ISLAM AND THE FUTURE MONEY – Book Sample
INTRODUCTION – ISLAM AND THE FUTURE MONEY
Abū Bakr ibn Abi Maryam reported that he heard the Messenger of Allah say: “A time is certainly coming over mankind in which there will be nothing (left) that will be of use (or benefit) save a Dinār (i.e., a gold coin) and a Dirham (i.e., a silver coin).” [This prophecy clearly anticipates the eventual collapse of the fraudulent monetary system now functioning around the world.] (Musnad, Ahmad)
It is both strange and embarrassing that even at this late hour when enemies are about to weld into place the final iron gate of a financial Guantanamo, so many Muslims remain ignorant about the devilish nature of European-created money in the modern world. One has even criticised this writer for having “funny” views concerning money.
There seems to be little understanding of the role that a European-created money-system has been playing in delivering to enemies of Islam the capacity to engage in massive legalised theft of the wealth of mankind. Nor is there realization that those enemies have designed a monetary system that would eventually deliver to them financial dictatorship over the whole world. They have already succeeded in enslaving millions of Muslims (as well as others amongst mankind) with slave wages and even destitution, while pursuing a sinister global agenda on behalf of the Euro-Jewish State of Israel. It is truly pathetic to listen to those who blame Pakistanis and Indonesians for miserable poverty in Pakistan and Indonesia.
The news media, even in countries that declare ‘Islam’ to be the State religion, is notorious for blanking out all news reports concerning this important subject. An example of such was the important ‘International Conference on the Gold Dinār Economy’ that was held at Kuala Lumpur’s Putra World Trade Center on July 24th and 25th 2007. An excellent keynote address, delivered by a former Malaysian Prime Minister, Tun Dr. Mahathir Mohamad, set the stage for two days of intensive deliberations on the subject of ‘money’. This booklet is an expanded version of our paper entitled “Explaining the Disappearance of Money with Intrinsic Value” which we presented at the conference shortly after the feature address. Readers may wish to assess the coverage of that conference in the Malaysian English-language newspapers.
What is far worse than the news blackout is that classically trained scholars of Islam (i.e., ‘Ulamā) seem to share with ordinary Muslims this strange and highly embarrassing state of ignorance, or silence, concerning the fraudulent nature of modern money. Even when they realise that there is something dangerously wrong about modern money, so many in this strange modern age lack the courage to denounce the monetary system of non-redeemable paper money as fraudulent and, hence, Harām.
Governments who rule over Muslims present the most pathetic scene of all. Neither do they understand the dangerous reality of money today, nor do they want to know the subject. The reason for this is located in the subservient role to which they must adhere as governments in their relations with the Judeo-Christian alliance that now rules the world.
The solitary exception to this dismal state of affairs has been the former Prime Minister of Malaysia, Dr. Mahathir Mohamad. He not only understood the exploitative nature of the monetary system created by modern western civilization, but also, and quite correctly so, did what scarcely any of the Muftis of Islam have so far done, or dare to do. He called for the return to the Gold Dinār as money, in place of the money-system built around the utterly fraudulent US dollar, so that Muslims could extricate themselves from financial and economic oppression and exploitation.
We offer this essay on the ‘future of money’ for the benefit of those who believe in the Qur’ān as the revealed word of the One God, and in Muhammad (peace and blessings of Allah Most High be upon him) as the last of His Prophets. We are conscious of the fact that we must not only explain this subject adequately but that we must also pray that Allah Most Kind may intervene and remove the veils from so many eyes. Only then would they recognise the looming final stage of a fraudulent monetary system designed to impose complete financial slavery upon mankind. The system is designed to target in particular those who resist the mysterious Judeo-Christian alliance that now rules the world.
The final stage of evolution in their monetary system would witness the universal embrace of electronic money, the brightest jewel of their evil monetary crown, which would totally replace today’s fraudulent paper currencies. Indeed this final stage has already commenced, and all that the international monetary bandits now need is a world crisis (such as a nuclear attack on Iran which has not as yet occurred but which is expected at any time) that would result in a total collapse of the US dollar and a consequent mass stampede away from paper currencies.
Already the impending collapse of the US dollar is reflected in the rising price of gold – now close to the record of US$850 an ounce set in January 1980. The world can expect to
see the price of gold escalate to US$3000 or more per ounce. The same thing would happen to the price of oil. Perhaps the psychological shock of the collapse of the US dollar would produce the stampede through which electronic money would effortlessly replace paper money as the new cashless money- system of the world.
We attempt in this essay to introduce the reader to the subject of money as located in both the blessed Qur’ān and the Sunnah of the blessed Prophet (sallalahu ‘alaihi wa sallam). We demonstrate that such money (which we call Sunnah money) always possessed intrinsic value. By that, we mean that the value of the money, whatever that value might be, and regardless of changes in value that might naturally occur, was stored within the money, and was thus immune to arbitrary external manipulation and devaluation.
We further demonstrate that the monetary system created by the ruling European Judeo-Christian alliance was specifically designed to remove ‘money with intrinsic value’ from the money-system of the world, and to replace it with money that had no intrinsic value. Such non-redeemable paper currencies could then be devalued. When they were devalued, not only would it result in an unjust legalised theft of the wealth of those who used the devalued currency but additionally, it would become more and more expensive for such countries to repay loans which were taken on interest. Eventually these
countries would be trapped with debts they could never repay, and would thus be at the mercy of those whose suspiciously large loans to them were meant to deliver precisely such control over them. (See John Perkins, ‘Confessions of an Economic Hit- Man’).
As money was devalued, the cost of property, labour, goods and services in the territories of the devalued currencies would become cheaper and cheaper for those who created the monetary system. Eventually one part of the world could live very comfortably while the rest of the world, with their constantly devalued money, sweated and laboured in a new slavery to keep the bandits permanently rich and with permanent first class tickets on the ship of life. As poverty increased in the targeted countries, corruption naturally also increased. Those who had the intellectual acumen of cattle would then wonder loudly: why do Muslim countries suffer from so much corruption while the West (which had looted their wealth and was living off their sweat) was so free from corruption.
Then when the IMF forced privatization upon those whose money had lost value, the bandits could then buy out oil and gas fields, power-supply companies, telephone companies, etc., in such countries for a song and six-pence, i.e., for a price far less than their true value. It remains an enigma that Venezuela’s Hugo Chavez could understand the exploitative role of the IMF
and could terminate Venezuela’s membership in that organization, while the scholars of Islam remain amazingly silent on the subject.
This essay goes on to explain that the enemies are not content with simply living off the sweat of others through exploiting to their advantage a monetary system that is unjust and oppressive. Rather they have a grand design to so financially enslave the masses as to permit them to impose their dictatorship over the whole world. Their dictatorship would, in turn, pave the way for the Euro-Jewish State of Israel to become the ruling state in the world and, eventually, for a ruler of Israel to startle the world with the utterly fraudulent claim that he is the true Messiah. In fact, he would be Dajjāl the false Messiah or Anti-Christ! We are now so close to that event that this writer confidently predicts that children now at school would live to see it (See ‘Jerusalem in the Qur’an’ and the second chapter of ‘Sūrah al-Kahf and the Modern Age’ available for free download on the website: www.imranhosein.org).
Unless one has an understanding of the grand design behind the creation of the contemporary monetary system of non-redeemable paper money, one cannot respond properly to the challenge posed by that monetary system. Yet this writer has tried in vain to convince his distinguished and learned peers of the need to understand that grand design before embarking on an effort to restore the Gold Dinār as money.
MONEY IN THE QUR’AN AND SUNNAH
Many secularised Muslims in the modern age fervently believe that religion should have nothing to do with economic and political life. Such Muslims would be at a loss to explain, or even understand, the following incident in the life of Prophet Muhammad (sallalahu ‘alaihi wa sallam):
Abū Sa’īd al-Khudri said that Bilāl brought the Prophet some Barni dates, and when he asked him where he had gotten them he replied: “I had some inferior quality dates so I exchanged two Sa’s of them for one Sa’ (of this).” The Prophet responded: “Ah! This is the very essence of Ribā, the very essence of Ribā! Do not do so, but when you wish to buy, sell the dates in a separate transaction, then buy with what you get.”
We learn from the above that Prophet Muhammad (sallalahu ‘alaihi wa sallam) prohibited an unequal exchange of ‘dates’ for ‘dates’. He declared such an exchange to be the very essence of Ribā. Yet there is evidence that an unequal exchange of ‘camels’ for ‘camels’ was permitted:
Yahya related to me from Mālik from Nāf’i that Abdullah ibn Umar bought (i.e., exchanged) a female riding-camel for four camels and he guaranteed to give them in full to the buyer at ar-Rabādha. (Muwatta, Imām Mālik)
The question naturally arises: why was there a prohibition of an unequal exchange of dates, but no prohibition of an unequal exchange of camels?
The answer to that question, located in a very important Hadīth of the blessed Prophet (sallalahu ‘alaihi wa sallam) concerning Ribā, explains what is money in Islam:
Abī Sa’īd al-Khudri reported Allah’s Messenger as saying: “Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt. (When a transaction is) like for like, payment being made on the spot, then if anyone gives more or asks for more, he has dealt in Ribā, the receiver and the giver being equally guilty.”
The above Hadīth of Prophet Muhammad (sallalahu ‘alaihi wa sallam) has very clearly established three things:
Firstly, it established ‘money’ in Islam to be either precious metals such as gold and silver, or other commodities such as wheat, barley, dates and salt which are commodities of regular consumption as food but which have a shelf-life. Thus,
when there was a scarcity of gold and silver coins in the market in Madina, commodities such as dates, which were available in the market in abundant supply, and which had a shelf life, were used as money. Consequently, we can now answer the above question.
The unequal exchange of camels for camels was permissible since animals were never used as money. An unequal exchange of dates for dates had to be prohibited, however, because dates were used as money, and permission
for such an exchange would open the door for a moneylender to lend money on interest.1
If the same principle concerning the use of commodities such as dates as money, were to be applied in the Indonesian island of Java, for example, then rice could be used as money if gold and silver coins were to be in short supply in that market. In the island of Cuba on the other hand, sugar could be used as money, etc.
Some scholars of Islam argue that mankind is free to use anything, even a grain of sand, as money. Therefore, there is no prohibition to printing paper and assigning any value to the paper. Our response is that grains of sand or shells found on the seashore cannot qualify in Islam as money according to the Hadīth since they are neither precious metals nor or they commodities that are consumed regularly as food.
Secondly, when gold, silver, wheat, barley, dates and salt (rice, sugar, etc.) were used as money, the value of the money was ‘inside’ the money and not ‘outside’. Hence, the Hadīth established ‘money’ in Islam to possess intrinsic value.
Thirdly, money was always located within Allah’s creation in a commodity that was created by Allah Most High, with value assigned to it by Allah Most High Himself. He declared of Himself that He was al-Razzāck, the creator of wealth.
We may now describe money located in the Sunnah to be the following:
- precious metals or other commodities as described above,
- money with intrinsic value,
- money located within Allah’s creation with value assigned to such money by Allah Most High Himself Who is the creator of wealth.
Some scholars of Islam hasten to remind us that the Sunnah is comprised of two parts. The first is that which has come to us from the blessed Prophet but was based on Divine guidance. And the second is that which was based on his own opinion. The Prophet has himself advised his followers in respect of the second that “you are better informed about your worldly affairs.” The implication of this advice was that there was no obligation to follow such Sunnah.
The scholars go on to argue that ‘money’ falls in the second category. As a consequence, they argue, it is perfectly legitimate for Muslims to accept the present system of non- redeemable paper-money in which the Jewish-Christian ruling alliance simply has to print paper as money, assign a fictitious value to it, and in the process become creators of as much wealth as they want. They can then use their currencies to buy anything they want in any part of the world. However, when Muslims follow them in this blasphemous activity of creating wealth out of nothing, a suitcase filled with Indonesian Rupiahs or Pakistani Rupees cannot buy even a cup of coffee in Manhattan.
Such scholars of Islam have never declared the present monetary system of non-redeemable paper money to be Harām, and it seems as though they never will. They are, of course, very wrong in their judgement and they will have to face the consequences on the Day of Judgement for that atrocious failure. They do not consider that money in the form of precious metals created by Allah Most High with intrinsic value assigned to them by Allah Himself is firmly grounded in the blessed Qur’ān itself.
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