By Imran N Hosein

Show description

Read or Download Islam and the Future of Money PDF

Similar religion books

Reading and Re-Reading Scripture at Qumran, Volume 1: Genesis and its Interpretation (Studies on the Texts of the Desert of Judah, Volume 107)

This choice of essays brings jointly in a single handy position the distinctive insights of 1 of the top specialists within the interpretation of Scripture within the moment Temple interval. The essays are fantastically crafted, completely engaged with the first texts, rather well honed methodologically, and hugely informative.

Extra resources for Islam and the Future of Money

Sample text

In addition, such coins would function as a ‘store of value’ and provide the rich with a 44 means of securing their wealth from losses that attend the devaluation of paper money. Minting gold coins and putting them on sale offers little relief to the poor destitute masses who would have difficulty in buying and then storing even a single Gold Dinār. However, minting the Gold Dinār and Silver Dirham and offering them for sale is certainly of value in furthering the process of public education. It is when gold and silver coins enter a market to function as a ‘medium of exchange’ and as a ‘measure of value’, that Sunnah money would be fully restored.

However, many Muslims cannot be convinced of the fraudulent nature of paper money in today’s monetary system so long as the Ulama themselves do not understand the subject and persist in defending the validity of such money. It might thus be helpful if the Muslim peoples could be made aware of the Hadīth in which the blessed Prophet warned of an age when the ‘Ulamā of Islam would betray Islam to such an extent that they would become “the worst people beneath the sky” and that “nothing would remain of Islam but the name”: “It would not be long before that time comes when nothing would remain of Islam but the name, and nothing would remain of the Qur’ān but the (traces of the) writing.

The reader can easily recognize the very heart of the process of legalized theft in the international monetary system that the Judeo-Christian alliance has created by focusing attention on an event that occurred in April 1933. The US Government enacted legislation at that time prohibiting American residents from keeping gold coins, bullion or gold certificates in their possession. Gold coins were demonetized, and were no longer permitted as legal tender. They could not be used as money. If anyone was caught with such gold after a 34 certain date, he could be fined $10,000 and/or be imprisoned for six months.

Download PDF sample

Rated 4.12 of 5 – based on 23 votes