Rubbish!

The shariahfinancewatch.org blog is a project of the Center for Security Policy’s program to educate the public and policymakers about the dangers of shariah law.

On September 12th, in the DGC Magazine blog I posted an excellent article relating to Islamic Finance. One of the central themes of the text is “The money creation function should be returned to the system that worked so well in the era of commodity money.”

In my Digital Gold Currency world, we appreciate quality information and discussion on topics such as privacy, fiat money, sound money, ‘gold and silver as everyday money’ and the outrageous interest ‘bankers’ charge which has enslaved American society.

Today the US Congress, White House and the US Treasury Dept are all in a huddle rushing to to create a Bill that will BAIL OUT the toxic American financial system created by debt products!  This is a $700 billion dollar Bill and most agree it’s a big band aid and will not solve the real problems. Big debt causes big problems and creates an artificial world where consumers become financial slaves.

Returning to a gold backed financial product and a sound money payments system is our suggestion and that idea is echoed in my Sept. 12 post. The concept of gold and silver as money is very common throughout Islamic Finance and one idea, I happen to agree with 100%.  I do not think credit or debt should be abolished, but I truly believe returning a good portion of our finances to ‘sound money’ will help us all. I certainly DO NOT think our point of view frames DGC Magazine as a ‘propaganda’ machine for any concept other than gold as money. We certainly hope that Dr. Ron Paul is not in the same ‘propaganda’ category?

Tarek El Diwany authored a great book entitled, The Problem With Interest, and operates the web site www.islamic-finance.com Below are some excerpts from a 2007 interview. Nadine Marroushi interviewed Tarek El Diwany in London during the summer of 2007.

In the coming October issue of DGC Magazine please look for another informative and intelligent article entitled, Pay Zakat in Gold, By Omar Javaid, Sr.Editor CRITIC Magazine (http://www.criticmagazine.pk)

The Arafat photo comes from http://www.christiansstandingwithisrael.com/ the link in the post is incorrect.  Despite my occasional cheap shot at the current US Republican Administration, we try and stick to finance. Please remember this is a financial web site, not political.