Vatic Note: This piece is part I of the issue of the Muslim states reverting back to their Gold and Silver standards for currency. It was precipitated by a piece sent to us by VK Durnham, who is an expert in global investments/trusts/and currencies given her past history in dealing with these matters. When I read it, I realized we have no deep history of the islamic worlds relationship to currency and thus why the zionists were so intent and determined to bring them into the fiat currency system. At first I thought it was to globalize and make all currencies alike in order to do so and I am sure that is still the case, but with the Muslim states, the issue of value to currency is greater than just materialistic, its also religious. In searching I found this site and presentation which did a fine job of providing perspective and thus expectations on how the globalist international bankers (Zionists) will react to VK's article about Malaysia converting their currency back to gold and silver. In our country, when JFK tried, he was assassinated, so watch for that with respect to Malaysia. The "useless feeder" bankers cannot let that challange go unanswered. VK's article that triggered all this is Part II, so watch for it right after this one.
Islamic Gold Dinar is REAL money
Gold and silver are the most stable currency the world has ever seen.
From the beginning of Islam until today, the value of the Islamic bimetallic currency has remained surprisingly stable in relation to basic consumable goods: A chicken at the time of the Prophet, salla'llahu alaihi wa sallam, cost one dirham; today, 1,400 years later, a chicken costs approximately one dirham.
In 1,400 years inflation is zero. Could we say the same about the dollar or any other paper currency in the last 25 years?
In the long term the bimetallic currency has proved to be the most stable currency the world has ever seen. It has survived, despite all the attempts by governments to transform it into a symbolic currency by imposing a nominal value different from its weight.
Gold cannot be inflated by printing more of it; it cannot be devalued by government decree, and unlike paper currency it is an asset which does not depend upon anybody's promise to pay.
Portability and anonymity of gold are both important, but the most significant fact is that gold is an asset that is no-one else´s liability.
All forms of paper assets: bonds, shares, and even bank deposits, are promises to repay money borrowed. Their value is dependent upon the investor's belief that the promise will be fulfilled. As junk bonds and the Mexican peso have illustrated, a questionable promise soon loses value.
Gold is not like this. A piece of gold is independent of the financial system, and its worth is underwritten by 5,000 years of human experience.
The Holy Koran says in Verse 161 of Surah An Nisaa’:
That they took usury, though they were forbidden; and that they devoured men’s substance wrongfully;- we have prepared for those among them who reject faith a grievous punishment.
When one party gives something of value and the other party pays him with something, in this case paper, of no value, and when one party’s wealth is created out of thin air, while the other party has to slave and earn to pay off the ill-gotten credit or loan, is this not devouring of other people’s wealth?
This means that money in Islam must have intrinsic value. If not, the buyer is devouring the seller’s wealth.
There is moreover a Hadith of Prophet Muhammed (Peace and Prayers be upon Him) in the Sahih Muslim which teaches:
“Abu Said 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 more, he has dealt in riba, the receiver and the giver being equally guilty.”
This Hadith of Prophet Muhammed establishes two things:
ONE ‘money’ in Islam is either precious metals such as gold and silver, or commodities such as wheat, barley, dates and salt.
TWO when gold, silver, wheat, barley, dates and salt were used as money, their value was ‘inside’ and not outside’ the money.
Hence, it is established that ‘money’ in Islam must possess intrinsic value.
Some powerful quotes to end with: “The current economic crisis, which began with the collapse of the mortgage market United States, suggests that the advent of the Islamic financial system to replace capitalism is not far off“ – Sheikh Abdul Qadir
"In order for Islamic finance to help break the vicious cycle of boom and bust, Islamic finance must return intrinsic value to money." Ivo Cerckel - www.bphouse.com/honest_money
“If we follow the Deen of Allah we shall most certainly succeed in this world and the hereafter, if we follow the Kuffar we’ll end up in disaster as we already did” Umar Pasha - muamalahcouncil.com
"We see the Islamic Gold Dinar and Silver Dirham as the most important political event for the Ummah in the 21st century. The Gold Dinar and Silver Dirham are mentioned in the Quran and Hadith, they are integral components of the Sunna and Amal of Ahl al-Madina, that is why they had been known as Shariah Money and had always been the currency of the Muslims throughout history." http://www.muamalahcouncil.com/
“Everyone aiming to change the world but they forget to change theirselves” http://www.islamic-gold-dinar.blogspot.com/
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