The Great Ponzi Scheme
Thank You Br. Saeed
(PS: Join Br Saeed & I this next Thursday, 5:30 am, nyt)
This fractional-reserve banking, debt based monetary system and paper/electronic money has been a Ponzi scheme and confidence game all along...for those who understands the basics of Fiqh Mu'amalat.
This is what Shaykh Dr Mustafa Al Badawi (student of Habib Mashhur Al Haddad) wrote in "Man & Universe: An Islamic Perspective", that Shari'ah Principles should allow us to understand what is wrong in our world.
That is why Rais 'Omar Ibrahim Vadillo wrote two books, "The End of Economics" in early 1990s and now it is unfolding. The other is "The Return of Islamic Gold Dinar" in 2006.
Shaykh 'Omar has a good teacher, Shaykh AbdulQader Al Sufi (rahimuhullah) who knew the detailed story of bankers.
Here is a detailed account of one high-tech entrepreneur's struggle over the week to get his company's and personal savings out of Silicon Valley Bank:
I have known for a long time that it would come to this, but I never thought it would take this long because, I didn't expect that central banks could print $29 trillion dollars out of thin air in the last global financial crisis (without corresponding goods production) and not face inflationary (and even hyperinflationary) pressures knowing how such egregious money printing turned out in history.
Once confidence is shattered in this Ponzi scheme called fractional-reserve and international banking system it's game over. And the only option for the elite is kick the table over with a global war hoping to start over, or they face criminal charges, including Covid poison shots.
Thank Allah Azza wa Jaal for the wisdom that HE gave to our beloved Prophet (pbAbuh) to not involve in Riba; be debt-free; and put money in commodities.
Abu Hurayra (rAa) narrated that the Prophet (pbAbuh) said if you indulge in four things Allah Azza wa Jaal will humiliate you on this world:
1. Leave jihad/struggle against oppression for the sake of Allah,
2. Chasing the tail of Ox,
3. Indulge in agriculture,
4. Sale of dayn/debt, that is bonds and derivatives trading.
The last one is all about this debt-based monetary system that is collapsing now, and Allah Azza wa Jaal promised in The Noble Qur'an HE will destroy Riba.
Alhamdulillahi Rabbil 'Alameen!
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