Bill Still speaks at The Multifaceted Global Crises of Riba: Resilience, Response & Reform in Malays

[AsifAmeer]

Rumor has it Sheikh Imran Hosein was there too. Listen very carefully to the arguments put forth by Bill Still.
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[Heart]

While I go through this video, just one question out of curiosity, Do you agree with the views of Sheikh Imran Hosein?

 

[AsifAmeer]

He has lots of views. Which view we talking about here?

While I go through this video, just one question out of curiosity, Do you agree with the views of Sheikh Imran Hosein?

 

[Heart]

Specifically about the international monetary economic and that gold and silver should be the currency instead of the fiat paper currency?

He has lots of views. Which view we talking about here?

 

[ASQR1]

Well we can all talk till the cows come home, it is only a talk and it is in Malaysia and not in New York where all those that speaker is talking about domicile, this talk is merely a ploy to get the blood pressure of common people higher, and nothing more. and to get this speaker a venue to speak. in my opinion al systems have the flaws, only system that can help mankind is Allah's system and mankind abandons it by making excuses about it being not applicable because it will be the most just and most fair of all the systems in the world and those who benefit from existing system do not like it, they oppose it by making excuses, and silly attachment to it.

 

[AsifAmeer]

Gold is a trap. Majority of the gold supplies sit in the vaults of the central banks.

Global currencies will be in enormous pressure. Chinese RMB is undervalued at the moment and China will try its best to maintain this balance. Dollar will continue to remain strong for short to medium term. In the long run, there has to be a war. Its the only logical conclusion.

Specifically about the international monetary economic and that gold and silver should be the currency instead of the fiat paper currency?

 

[Heart]

Atleast both Still and Imran Hosein agree that fractional reserve banking is cruel.

Gold is a trap. Majority of the gold supplies sit in the vaults of the central banks.

Global currencies will be in enormous pressure. Chinese RMB is undervalued at the moment and China will try its best to maintain this balance. Dollar will continue to remain strong for short to medium term. In the long run, there has to be a war. Its the only logical conclusion.

 

[AsifAmeer]

Enlighten us with details. Who controls the money supply? How does Capital formation take place? How do futures markets work? Waiting for details from you.

Well we can all talk till the cows come home, it is only a talk and it is in Malaysia and not in New York where all those that speaker is talking about domicile, this talk is merely a ploy to get the blood pressure of common people higher, and nothing more. and to get this speaker a venue to speak. in my opinion al systems have the flaws, only system that can help mankind is Allah's system and mankind abandons it by making excuses about it being not applicable because it will be the most just and most fair of all the systems in the world and those who benefit from existing system do not like it, they oppose it by making excuses, and silly attachment to it.

 

[AsifAmeer]

Add milton friedman to the list too.

Atleast both Still and Imran Hosein agree that fractional reserve banking is cruel.

 

[Heart]

Now when there is agreement on the cruelty of Fractional Reserve Banking, how do we ensure that the money supply is stable?

Add milton friedman to the list too.

 

[AsifAmeer]

@ASQR1 Kindly enlighten us... How do we ensure the money supply is stable?@xshadow @modern.fakiranyone? Champions of Faith.. any body?

Well we can all talk till the cows come home, it is only a talk and it is in Malaysia and not in New York where all those that speaker is talking about domicile, this talk is merely a ploy to get the blood pressure of common people higher, and nothing more. and to get this speaker a venue to speak. in my opinion al systems have the flaws, only system that can help mankind is Allah's system and mankind abandons it by making excuses about it being not applicable because it will be the most just and most fair of all the systems in the world and those who benefit from existing system do not like it, they oppose it by making excuses, and silly attachment to it.

Now when there is agreement on the cruelty of Fractional Reserve Banking, how do we ensure that the money supply is stable?

 

[Heart]

Also both agree that Media is also playing the devilish part in the society.

Add milton friedman to the list too.

 

[Heart]

Here is SIH's presentation in the 3rd Riba Conference.

http://www.youtube.com/watch?v=hzYe3BS71oY

While I go through this video, just one question out of curiosity, Do you agree with the views of Sheikh Imran Hosein?

 

[guest]

people who recommend gold standard should have their heads examined and the lead removed from it. this gold standad nonsense and the bigger nonsense of sharia based banking has to be the most irritating routine which makes periodic reappearances on the discussion stage.

 

[Heart]

What a great way to dive into a discussion. People should learn from your wisdom.
Instead of contributing a sound argument - you have the guts to say that this discussion is nonsense. Wow. People like you lead the world!!!!!!! - Unfortunately the world is inhabited by very people of unsound minds - so there is no place for people of sound mind like you.

people who recommend gold standard should have their heads examined and the lead removed from it. this gold standad nonsense and the bigger nonsense of sharia based banking has to be the most irritating routine which makes periodic reappearances on the discussion stage.

 

[AsifAmeer]

Guest,

I believed in a Gold Standard. I was a firm believer of Gold 3 years ago. Now, not so much... Point is, we learn and we evolve.. Thats how humans operate.

About "Sharia Based Banking". I dont quite like that term but I ABSOLUTELY LOVE the Equity-based Banking concept! Did you know before WW1, the German Banks were operating on Equity based Banking. Calling it Sharia Banking kinda shuts the door for non-muslim. Its like I wouldnt bank with a "Banking on Talmudic Principles" . Secondly, it kinda degrades religion in my opinion.. Look finance is a dirty business. With drag religion into it..

One of these days, I will write on the concept of Equity based Banking and how its the ONLY way of sustainable banking.

people who recommend gold standard should have their heads examined and the lead removed from it. this gold standad nonsense and the bigger nonsense of sharia based banking has to be the most irritating routine which makes periodic reappearances on the discussion stage.

Guest usually has good inputs. Different point of views are healthy.

What a great way to dive into a discussion. People should learn from your wisdom.
Instead of contributing a sound argument - you have the guts to say that this discussion is nonsense. Wow. People like you lead the world!!!!!!! - Unfortunately the world is inhabited by very people of unsound minds - so there is no place for people of sound mind like you.

 

[guest]

its same as the agha waqar story. if someone said he is making car run from water, it is so preposterous and self defeating that there is no need to make any rational argument to deride it. no sensible argument can be had with people who live TODAY (the TODAY is important) and talk of having gold standard. this is such a farce and such a misunderstanding of the global economy that other than some paleo-conservatives and of course some islamic economists (notably now zaid hamid) no one is idiotic enuff to even broach this debate. the sharia banking is a marginally more reasonable idea but still to extreme as of TODAY. and most of the sharia banking advocates are bent upon going as per the letter rather than the spirit of the abrhamic (and yes it is common to all 3 abrahamic faiths) injunction against usury. it is stupid, it is stupid, it is stupid.

What a great way to dive into a discussion. People should learn from your wisdom.
Instead of contributing a sound argument - you have the guts to say that this discussion is nonsense. Wow. People like you lead the world!!!!!!! - Unfortunately the world is inhabited by very people of unsound minds - so there is no place for people of sound mind like you.

 

[ASQR1]

@ASQR1 Kindly enlighten us... How do we ensure the money supply is stable?@xshadow @modern.fakiranyone? Champions of Faith.. any body?

Let me enlighten you, In the system of Allah,S.W.T. riba is prohibited, if it is only riba based on greed, and based on the ugly desires of those who control money, Money supply can be abundant if right decision are implemented. Decision about manufacturing quality products at competitive prices, and labor is well trained respected and motivated to produce goods second to none.

When leader act honest, brilliant and are approachable the way it is in Scandinavia, than leader well be respected and will be heard. negotiation are another tool for smart Leaders who when giving something get some thing of better value in return. they are walking the streets and stop and listen and help needy and pose humble and not ride bullet proof cars with their nose up in the air. Now let us see if this enlighten you, as this is what Islamic leaders did. Profit loss is shared, profit is based very much on your ability to export, export can be negotiated with friendly countries like Saudis, Bahrainis, Kuwaitis, Jordanians, Egyptians etc. etc. looking at your systems, labor and leaders, the whole world will be attracted to buy if you produce again I will say quality, earn respect and export excellence.

 

[AsifAmeer]

hmm... Here the question Heart and I asked "How do we ensure the money supply is stable?"

You said there's a "God's System". Now you are saying well trained and respected people producing goods... the likes of Scandinavian federations. I am a bit confused. Are you saying the Scandinavians have found the way of God?

But please do answer this "How do we ensure the money supply is stable?"

Let me enlighten you, In the system of Allah,S.W.T. riba is prohibited, if it is only riba based on greed, and based on the ugly desires of those who control money, Money supply can be abundant if right decision are implemented. Decision about manufacturing quality products at competitive prices, and labor is well trained respected and motivated to produce goods second to none.

When leader act honest, brilliant and are approachable the way it is in Scandinavia, than leader well be respected and will be heard. negotiation are another tool for smart Leaders who when giving something get some thing of better value in return. they are walking the streets and stop and listen and help needy and pose humble and not eride bullet proof cars with their nose up in the air. Now let us see if this enlighten you, as this is what Islamic leaders did.

 

[ASQR1]

hmm... Here the question Heart and I asked "How do we ensure the money supply is stable?"

You said there's a "God's System". Now you are saying well trained and respected people producing goods... the likes of Scandinavian federations. I am a bit confused. Are you saying the Scandinavians have found the way of God?

But please do answer this "How do we ensure the money supply is stable?"

Scandinavians are acting unknowingly on the rules set in Islam, and are reaping the benefits of it, Money supply as I said will be based on your exports and exports depend on quality, and quality depends on your Labor, and labor depends on motivation and motivation depend on Leaders.