Sheikh Umar Ibrahim Vadillo to give a speech on RIBA in Lahore on July 8th at 4:30 - Please share

AsifAmeer

Siasat.pk - Blogger
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indigo

Siasat.pk - Blogger
Those who thinks Interest is always bad for Economy, should know its not true, taking interest is actually a moral evil.
 

barhaich

Senator (1k+ posts)
Those who thinks Interest is always bad for Economy, should know its not true, taking interest is actually a moral evil.

Apart from being evil and disgusting.

It's terribly bad for the economy.

It has unlimited dimensions which creates a sick-impotent economy.

Inflation is an invention of interest. (TEXTBOOKS DON'T SAY THIS ANYMORE BUT IT'S TRUE!)

I'm an actuary with a Finance Master's degree.
 

indigo

Siasat.pk - Blogger
What I meant, is that Interest is always terrible for economy is not truth... It can be terrible at times but actually taking it is a moral evil, that's why Islam forbids...
Allow me mine, you can have your opinion...

Apart from being evil and disgusting.

It's terribly bad for the economy.

It has unlimited dimensions which creates a sick-impotent economy.

Inflation is an invention of interest. (TEXTBOOKS DON'T SAY THIS ANYMORE BUT IT'S TRUE!)

I'm an actuary with a Finance Master's degree.
 

barhaich

Senator (1k+ posts)
What I meant, is that Interest is always terrible for economy is not truth... It can be terrible at times but actually taking it is a moral evil, that's why Islam forbids...
Allow me mine, you can have your opinion...

Bro,

Academically and factually, interest is almost always damaging for an economy. It's just an incentive for the investors and nothing more than that.

The thing is that people mix profit with interest, however, profit is productive progress and interest is not. In fact, it's the total opposite of real profit.

I can explain further if you would care to know.
 

indigo

Siasat.pk - Blogger
Bro,
Academically and factually, interest is almost always damaging for an economy. It's just an incentive for the investors and nothing more than that.
The thing is that people mix profit with interest, however, profit is productive progress and interest is not. In fact, it's the total opposite of real profit.
I can explain further if you would care to know.


Lets have simple questions by me, I have no authority like you over either finance or economy... OK

What is Interest, explain in simple in relevance with Islam?

Taking interest or giving interest is always damaging for countries? or both are?

If Today Pakistan takes loan of $1000 Billion from IMF with fix charge of 1% on GDP per year how It is damaging for Pakistani Economy?

If Today USA takes loan of $1000 Billion from China with fix charge of 20% on GDP per year how It is not damaging for USA Economy?

Ceteris Paribus covering all, answer me these questions!

If you now think Interest can be beneficial at sometimes, Ok, good for all.

If you still thinks interest is always so bad than. laga reh!
 
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indigo

Siasat.pk - Blogger
At the age of Prophet saw, there was no paper money, no inflation there was simple trading...

Was Prophet saw forbidding paper money because it was the reason for inflation? As Inflation is an invention of interest?

Or was Prophet saw forbidding interest because it is a moral evil and zulm on borrower for he can't payback due to loss or his financial conditions...?
 

barhaich

Senator (1k+ posts)
Lets have simple questions by me, I have no authority like you over either finance or economy... OK

What is Interest, explain in simple in relevance with Islam?

Taking interest or giving interest is always damaging for countries? or both are?

If Today Pakistan takes loan of $1000 Billion from IMF with fix charge of 1% on GDP per year how It is damaging for Pakistani Economy?

If Today USA takes loan of $1000 Billion from China with fix charge of 20% on GDP per year how It is not damaging for USA Economy?

Ceteris Paribus covering all, answer me these questions!

If you now think Interest can be beneficial at sometimes, Ok, good for all.

If you still thinks interest is always so bad than. laga reh
!

Beta,

This Latin phrase you used is the delusion, it is delusional economics.

Let me explain simply that in the real world there is nothing which is constant, nothing at all.

Not even the value of money. And when this comes to loans, unstable markets lead our precious loan taking entity(country) to draw further loans,

which in turn limits the true economic potential of the entity leading to economic deficiencies like the recession-cycle.

In reality this naive phrase of your's is total BS.

Yes, if everything is stable then there is a possibility of economic growth because only then, and not in any other stituation, our economic entity has a good (or some) chance of knitting in with other entities for prosperity.

Which shows that interest is nothing more than an incentive for investment or an encouragement for interaction in the modern market, however, it in turn actually sickens and destroys the economy of any scale.


'Ceteris Paribus' has no connection to the real world, it's just a mathematical philosophy which was used to quickly assess extremely short term
economic activities (like days or few instances), and it even failed at that.

Therefore you should not act like some wannabe, telling people things you do not know crap about.

Interest kills any involved entity's economic cycle-- period

@wadaich
 
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barhaich

Senator (1k+ posts)
Japan has applied this theory,they dont take inetest almost 0%.

Not just interest, unstable false paper money has also played an equal part in being the back-bone of inflation.

We must deeply amend this economic system.
 

indigo

Siasat.pk - Blogger
Beta,

This Latin phrase you used is the delusion, it is delusional economics.

Let me explain simply that in the real world there is nothing which is constant, nothing at all.

Not even the value of money. And when this comes to loans, unstable markets lead our precious loan taking entity(country) to draw further loans,

which in turn limits the true economic potential of the entity leading to economic deficiencies like the recession-cycle.

In reality this naive phrase of your's is total BS.

Yes, if everything is stable then there is a possibility of economic growth because only then, and not in any other stituation, our economic entity has a good (or some) chance of knitting in with other entities for prosperity.

Which shows that interest is nothing more than an incentive for investment or an encouragement for interaction in the modern market, however, it in turn actually sickens and destroys the economy of any scale.


'Ceteris Paribus' has no connection to the real world, it's just a mathematical philosophy which was used to quickly assess extremely short term
economic activities (like days or few instances), and it even failed at that.

Therefore you should not act like some wannabe, telling people things you do not know crap about.

Interest kills any involved entity's economic cycle-- period

Not a single question is answered :13:

Mr Genius, inflation or paper money Hazoor saw ka zamanae me kaha thi, Lets go back at the times of Prophet pbuh

now answer the same questions, or again chicken out because in reality you cant go back at the times of prophet pbuh [hilar]
 

AsifAmeer

Siasat.pk - Blogger
I envy you mate!

A guy from Austin, Asif Shirazi, has set up a Gold Minting firm here. He's minting Dinar Gold and silver coins. He is tapping in Sheikh Umar Vadillo and Mufti Taqi Usmani.

A courageous move by an expat Pakistani. Every Pakistani & expat should be proud of Asif's efforts.
@AsifAmeer

gonna meet him on sunday inshaAllah.
 

AsifAmeer

Siasat.pk - Blogger
Interest even at 1% creates "moral hazard". When you have guaranteed profits on my investments, I wont care giving money wouldn't due-diligence.

Eak aur maamla. Its called the law of exponents. Even at 3%, your debt doubles in 26 years!

Interest causes social inequality.

Interest creates system risk.

Any one who has traded financial instruments, would know exactly what i m talking about

Bro,

Academically and factually, interest is almost always damaging for an economy. It's just an incentive for the investors and nothing more than that.

The thing is that people mix profit with interest, however, profit is productive progress and interest is not. In fact, it's the total opposite of real profit.

I can explain further if you would care to know.

Lets have simple questions by me, I have no authority like you over either finance or economy... OK

What is Interest, explain in simple in relevance with Islam?

Taking interest or giving interest is always damaging for countries? or both are?

If Today Pakistan takes loan of $1000 Billion from IMF with fix charge of 1% on GDP per year how It is damaging for Pakistani Economy?

If Today USA takes loan of $1000 Billion from China with fix charge of 20% on GDP per year how It is not damaging for USA Economy?

Ceteris Paribus covering all, answer me these questions!

If you now think Interest can be beneficial at sometimes, Ok, good for all.

If you still thinks interest is always so bad than. laga reh!
 

AsifAmeer

Siasat.pk - Blogger
been enjoying your comments. lekin i feel ur throwing the baby out with the bath water here.

Paper currency is not the problem. Its fiscal deficits and Central Bank borrowing . Thats the root problem.. Not paper currency. Control the quantity and paper currency can have more value than gold...

Not just interest, unstable false paper money has also played an equal part in being the back-bone of inflation.

We must deeply amend this economic system.
 

AsifAmeer

Siasat.pk - Blogger
[MENTION=8314]barhaich[/MENTION] ki kaee baatein sahi hain.

You arent wrong either. You both are arguing being both on the same side of the argument..

There was no need of paper currency before the industrial revolution. Productivity grew exponentially causing rapid deflation. To stop deflation from becoming depression and to fix the issue of hoarding, they came up with this "debt-based" currency model.

Guys, everything wasnt created with evil intentions. There are serious challenges to understanding the human nature. Gold vs paper.. There are pros and cons on both sides.
Not a single question is answered :13:

Mr Genius, inflation or paper money Hazoor saw ka zamanae me kaha thi, Lets go back at the times of Prophet pbuh

now answer the same questions, or again chicken out because in reality you cant go back at the times of prophet pbuh [hilar]