Note: a warning against the Modernist Movement and the allowance of usury
FATWA ON PAPER MONEY
Paper Money is not a legal medium of exchange
If paper money is a debt representing a merchandise (dayn):
The debt must have a definition of what is owed.
But even if it is defined as a proper debt, a debt cannot be used
as a medium of exchange. Concerning paper-money as wealth
entrusted to non-Muslims, this is not allowed.
If paper money is a tangible merchandise ('ayn):
Its value corresponds only to its weight as paper. Equally we
take the value of the dinar by its weight not by its nominal
value.
Either way, paper money cannot be accepted as a medium of
exchange.
An Instrument of tyranny
We have heard economists saying:
"We need a flexible currency"
"We need a currency that can be expanded or contracted
according to the needs of the economy"
"An increase in currency will quicken industry"
These are all fallacies to justifiy the insolvency of the issuers of
the notes in order to avoid their obligations to pay.
There is, in truth, a great charm in the idea of being able to pay
off all our needs, satisfy all the government expenses and to
make the whole communtiy prosperous, just by printing a few
characters on bits of paper. But when a man is capable of
believing that, he will believe anything.
Another fallacy to justify theft is to say:"It is an emergency"
indeed a war can influence anybody to accept what appear to be
solutions. After the emergency comes the semi-emergency of a
crisis, or an almost-emergency time or an almost-normal time.
In every case our individual rights are no longer in our hands.
Any failure to repay in whole or in part what is due by the
promissory note is but a form of theft
THE RING - The trap and decay of the Khalifate
Up until the XV century the Muslims were in total charge of
world trading. From then on the Europeans started to take over
by the power of the ring.
The ring is a simple mathematical equation, which, as mentioned
by Richard Wagner in his famous opera, gives total power to
the person who uses it, although it contains a curse: "Whoever
uses it, will never be loved". Power was not wielded by gold,
but by storing it in a guarded cave. People slaved to mine it, but
were ruled by whoever possessed the ring.
This mathematical formula attached to debt and symbolic money
destroyed the Muslim Khalifate.
This mathematical formula is what banking is all about.
The formula needs a pre-condition: the existence and acceptance
of symbolic money.
Then it consists of lending 'at interest' symbolic money they [the
banks] do not have.
By lending 20 times more than they have, all repayments of 10%
become in accounting like 200% (20x10%).
We pay 10%, but they collect 200%.
But if everyone seems to win, who is the loser?
The losers are all passive holders of the currency who will suffer
the inflation originated by the money created out of nothing.
That is it !
Once the Muslims accepted their symbolic money they
inadvertedly authorised the magical system which gave the
banks a previously undreamed of world dominion.
The ring did not just conquer the states, its power was so
fascinating, that it transformed the states into banks.
And the States became banks
This convenient method of 'coining credit', was soon discovered
by the governments and they issued their own promissory
notes in paymnet of their expenses; a resource the more useful,
because it was the only mode in which they were able to
borrow money without paying interest, their promises to pay
on demand being, in the estimation of the holders, equivalent to
money in hand.
The governments incapable of containing their own expanding
deficits then created the legal money. The law of legal tender
established that all money issued by the issuing authority must
be accepted by force in payment of any debt.
The legal money abolished the contractual law that guaranteed
the freedom of the people to choose and imposed on the citizens
an artificial currency with a legal value established by the
government.
This convenient method of 'coining credit', was soon discovered
by the governments and they issued their own promissory
notes in payment of their expenses; a resource the more useful,
because it was the only mode in which they were able to
borrow money without paying interest
In the beginning there was gold...
then paper was issued as a promise to pay in gold
and finally the issuers broke their promise and transformed paper
into a non-redeemable official note.
We should now reverse the process...
governments should freely convert their currency
and finally eliminate all paper currencies.
If paper money is a debt representing a merchandise (dayn):
The debt must have a definition of what is owed.
But even if it is defined as a proper debt, a debt cannot be used
as a medium of exchange. Concerning paper-money as wealth
entrusted to non-Muslims, this is not allowed.
If paper money is a tangible merchandise ('ayn):
Its value corresponds only to its weight as paper. Equally we
take the value of the dinar by its weight not by its nominal
value.
Either way, paper money cannot be accepted as a medium of
exchange.
An Instrument of tyranny
We have heard economists saying:
"We need a flexible currency"
"We need a currency that can be expanded or contracted
according to the needs of the economy"
"An increase in currency will quicken industry"
These are all fallacies to justifiy the insolvency of the issuers of
the notes in order to avoid their obligations to pay.
There is, in truth, a great charm in the idea of being able to pay
off all our needs, satisfy all the government expenses and to
make the whole communtiy prosperous, just by printing a few
characters on bits of paper. But when a man is capable of
believing that, he will believe anything.
Another fallacy to justify theft is to say:"It is an emergency"
indeed a war can influence anybody to accept what appear to be
solutions. After the emergency comes the semi-emergency of a
crisis, or an almost-emergency time or an almost-normal time.
In every case our individual rights are no longer in our hands.
Any failure to repay in whole or in part what is due by the
promissory note is but a form of theft
THE RING - The trap and decay of the Khalifate
Up until the XV century the Muslims were in total charge of
world trading. From then on the Europeans started to take over
by the power of the ring.
The ring is a simple mathematical equation, which, as mentioned
by Richard Wagner in his famous opera, gives total power to
the person who uses it, although it contains a curse: "Whoever
uses it, will never be loved". Power was not wielded by gold,
but by storing it in a guarded cave. People slaved to mine it, but
were ruled by whoever possessed the ring.
This mathematical formula attached to debt and symbolic money
destroyed the Muslim Khalifate.
This mathematical formula is what banking is all about.
The formula needs a pre-condition: the existence and acceptance
of symbolic money.
Then it consists of lending 'at interest' symbolic money they [the
banks] do not have.
By lending 20 times more than they have, all repayments of 10%
become in accounting like 200% (20x10%).
We pay 10%, but they collect 200%.
But if everyone seems to win, who is the loser?
The losers are all passive holders of the currency who will suffer
the inflation originated by the money created out of nothing.
That is it !
Once the Muslims accepted their symbolic money they
inadvertedly authorised the magical system which gave the
banks a previously undreamed of world dominion.
The ring did not just conquer the states, its power was so
fascinating, that it transformed the states into banks.
And the States became banks
This convenient method of 'coining credit', was soon discovered
by the governments and they issued their own promissory
notes in paymnet of their expenses; a resource the more useful,
because it was the only mode in which they were able to
borrow money without paying interest, their promises to pay
on demand being, in the estimation of the holders, equivalent to
money in hand.
The governments incapable of containing their own expanding
deficits then created the legal money. The law of legal tender
established that all money issued by the issuing authority must
be accepted by force in payment of any debt.
The legal money abolished the contractual law that guaranteed
the freedom of the people to choose and imposed on the citizens
an artificial currency with a legal value established by the
government.
This convenient method of 'coining credit', was soon discovered
by the governments and they issued their own promissory
notes in payment of their expenses; a resource the more useful,
because it was the only mode in which they were able to
borrow money without paying interest
In the beginning there was gold...
then paper was issued as a promise to pay in gold
and finally the issuers broke their promise and transformed paper
into a non-redeemable official note.
We should now reverse the process...
governments should freely convert their currency
and finally eliminate all paper currencies.
BUY, USE, ZAKAT AND TRADE WITH GOLD DINAR AND SILVER DIRHAM NOW !
No comments:
Post a Comment