![Photo: USURY IS A POISONOUS APPLE FROM GARDEN OF EDEN
"A TIME WILL COME OVER PEOPLE WHEN NOT A SINGLE PERSON WILL REMAIN WHO DOES NOT SWALOW DOWN USURY , AND IF ONE DOES NOT SWALLOW IT, ITS VAPOR WILL OVERTAKE HIM."
(Prophet Muhammad SAW, Hadith Abu Dawud Mishkat 12:4)
"The 7.00 AM is a time to be FED into Seven deadly sins of the World Commerce Seven Headed Dragon of Pride, Greed, Lust, Envy, Wrath, Sloth and Gluttony, and some are of religious devotees, trapped in a never-ending sin-and-repent cycle in a temple"
"LUCIFER HAD SUCCESSFULLY FED THE ENTIRE GLOBAL POPULATION'S MINDS AND SOULS WITH A USURY POISONED APPLE FROM THE MOST EVIL ILLUSION AND MIND-SET TREE OF CAPITALISM, THE ENTHUSASTIC AND SUPERTITIOUS SCIENCE. THEY ARE CUSTOMARILY BRAINWASHED, BLINDLY VICTIMISED AND SYSTEMATICALLY ENSLAVED AND KEEPING IN THE CONSTANT JAHILIYYAH HIJAB (IGNORANCE WALL) ON BABYLONIAN - PHARAONIST ROMAN EMPIRE ARMS, DEBTS, AND THEN MAGICALLY FLOCKED INTO CEREMONIAL AND OFFICIAL NATION STATES RELIGIONS WHICH ARE THE GREATEST MANIPULATORS OF INTEREST BANKING SYSTEM CLAIM. ALL GOVERNED BY MAJOR KHAZAR (FAKE) JEWISH BANKSTERS WHO OWN EACH OTHER OF MOST TRANSNATIONAL BANKS AND CORPORATIONS PLUS A HUGE CHUNK OF WORLD LAND.:
The fight against usury goes back to the earliest known beginnings of civilization. From the days of Sumer to the present, decent people have struggled against this fruit of the tree of darkness. Charging interest was condemned by the ancient Greek philosophers. Money was to them something dead; something dead cannot be allowed to grow. Aristotle wrote in his work Politics (Book One, Part X):
“The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest… Wherefore of all modes of getting wealth this is the most unnatural.” "No one shall deposit money with anyone he does not trust, nor lend at interest, since it is permissible for the borrower to refuse entirely to pay back either interest or principle." (Plato, Laws) "The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid greed.... Hence of all the kinds of wealth acquisition this one is the most unnatural". (Aristotle, Politics)
The practice of usury can be traced back approximately four thousand years (Jain, 1929), and during its subsequent history it has been repeatedly condemned, prohibited, scorned and restricted, mainly on moral, ethical, religious and legal grounds. Among its most visible and vocal critics have been the religious institutions of Hinduism, Buddhism, Judaism, Islam, Christianity, Ancient Philosophers and Politicians, as well as various modern Socio-Economic Reformers. Up until the end of the Middle Ages it was forbidden for Christians to charge interest. To charge interest on a loan was tantamount to murder and robbery, and were treated as heretics. Later, usury had been the cause above all modern secret crimes, impenetrable and hidden in the most civil wars , monarchs and state leaders assassinations, French, Bolshevik revolutions, Opium wars in China, World War 1 & 2, Titanic, Pearl Harbor, 9/11 and so on
JEWISH USURY ENSLAVEMENT OF EUROPEAN THROUGH CALVINIST-PURITAN AMSTERDAMERS AND LONDON GATE
.The Jews had been expelled from Britain in 1290. This was a few decades after the Magna Carta, which clearly points at Jewish Usury as a huge problem at the time.---Cromwell, who was a calvinist Puritan, negotiated extensively with Amsterdam Jews about resettlement.
Resettlement came with the promise of making London a better Amsterdam. And while British merchants (and many others too) were against the readmittance of the Jews, Cromwell went ahead anyway. The Puritans were optimistic and naive and thought they could ‘redeem’ the Jews. But while Jewish Capital indeed pushed Britain’s Empire to unprecedented heights, there was no redemption: by the end of the 19th century the British Aristocracy had been entirely Judaized.
While Cromwell, as a tool of Amsterdam Imperialism, ultimately failed, the Jews did not relent and they had a second shot at London with the Glorious Revolution, when William III of Orange, Stadtholder of Holland, became William III of Britain and the Dutch Republic and England were united in a personal union.
He repaid his financial backers by chartering the Bank of England in 1694 and this was the official entry of Capitalism in Britain. It came with the end of sovereign money and the ascent of Gold: until then the British economy had been financed with Talley Sticks, simple pieces of wood issued by the King. British partners in the Bank paid for their shares with them, but the first thing the Bank did was take them out of circulation. The Bank of England is only the eigth bank in history and is the second oldest to survive today.
THE JEWISH USURY ENSLAVEMENT IN UNITED STATES.THROUGH LONDON, CIVIL WARS, VATICAN, ASSASSINATION OF LINCOLN BY A FREEMASON BOTHA, AND KENNEDY BY GAMBINO MAFIA FAMILY
-The real history of the United States is not about the War of Independence and the Constitution. It’s about banking. The United States did not revolt over ‘taxes without representation’. According to Benjamin Franklin the real reason for the War of Independence was that Whitehall forced scarce money through Britain’s Gold Standard on the Colonies, who had thrived with their own Colonial Scrip. A depression was the inevitable result. Only a few years after nominal independence, Hamilton’s first Bank of the United States brought Capitalism to the United States. It was closed in 1800, but in 1816, in the aftermath of the war with Britain, a second Bank of the United States (a privately owned corporation) was opened with a 20 year charter. The heroic President Andrew Jackson did not renew this charter and miraculously survived an attempt on his life. His last words, ‘I killed the Bank’ still ring triumphantly through the ages. Unfortunately, he failed to replace it with a decent monetary system and the country was plunged in a depression because of a tanking money supply. This left the Whigs, Abraham Lincoln prominently among them, plenty of scope to campaign for a new ‘National’ Bank, which came in the aftermath of the Civil War. In 1913 the Federal Reserve Bank was founded. This privately owned corporation is owned by primarily Jewish ‘member banks’. The presidents of the Federal Reserve are always Jewish and by far most of its board members are too. It’s no secret Wall Street is run by the Jews and is now the global standard bearer of Jewish Usury with derivatives being the scam du jour.
Of course there are Americans in Wall Street too, just as there are Englishmen in the City or Germans in Deutsche Bank, but whereas these nationalities compete amongst each other, the Jews are strong in all nations and this gives them supremacy. Equally true is that the Jewish many gain nothing from the banking prowess of their ‘elites’. They may have some privileges, but on the other hand they’re also easily duped into nasty affairs or sacrificed like the pawns we all are.
But considering the above history of Capitalism and Jewish Usury, it is very hard to avoid the conclusion that they are the same thing. The North during the Civil War was financed by the Rothschilds through their America agent August Belmont (actually Schoenberg) and the South by the Erlanger brothers who were related to the Rothschild family.
The Civil War ended on April 9, 1865, and International Jewish Usury got busy to remove President Lincoln. The assassination of Lincoln was carried out by John Wilkes Booth (Botha), a Freemason of the 33rd degree, on April 15, 1865, in Washington, D.C., only six days after the end of the Civil War. Izola Forrester, Booth’s granddaughter, stated in her book, This One Mad Act (1937), that Booth belonged to the lodge Knights of the Golden Circle and also Giuseppe Mazzini’s “revolutionary” movement Young America. Izola Forrester revealed in detail that the Freemasons were involved in the assassination of the president. Booth was soon eliminated. (Capitalism is jewish Usury - Anthony Migchels) : http://realcurrencies.wordpress.com/2014/06/05/capitalism-is-jewish-usury/ -
Why President John F. Kennedy was assassinated? Notice the top bill (newly printed courtesy of JFK in 1963), reads (on the very top) "United States Note", while the bottom bill reads "Federal Reserve Note" (as bills still read today).
On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned (and thus ILLEGALLY placed in control of our currency, 100 years ago) Federal Reserve Bank would soon be out of :http://worldtruth.tv/
business:http://www.fivefamiliesnyc.com/2011/02/mafia-killed-jfk-says-author.html
http://the-tap.blogspot.com/2013/12/vatican-killed-kennedy-says-mafia-boss.html
http://www.alamoministries.com/content/english/newsreleases/mafia_vatican.html
http://www.globalsecurity.org/intell/ops/mongoose-jfk-mob.htm
http://projectavalon.net/forum4/showthread.php?67383-Grandson-of-Lucky-Luciano-
EVERY RELIGION WARS AGAINST USURY :
Buddhism
"One discerns wrong livelihood as wrong livelihood, and right livelihood as right livelihood. And what is wrong livelihood? Scheming, persuading, hinting, belittling, and charging interest. This is wrong livelihood."
--Siddharta Gautama Buddha in his sermon on the Eightfold Path (Majjhima Nikaya Suttra 117)
Judaism
If one has charged interest or taken increase-- shall he then live? He shall not live! If he has done any of these abominations, he shall surely die; his blood shall be upon him. Prophet Ezekiel (18:13) He does not put out his money at interest, nor does he take a bribe against the innocent. He who does these things will never be shaken.(David, Psalm 15:5) , (Solomon, Proverbs 28:8), (Moses, Deuteronomy 23:19) There were also some who said, "We have mortgaged our lands and vineyards and houses, that we might buy grain because of the famine." There were also those who said, "We have borrowed money for the king's tax on our lands and vineyards... and indeed we are forcing our sons and our daughters to be slaves, and some of our daughters have been brought into slavery. It is not in our power to redeem them, for other men have our lands and vineyards."
And I became very angry when I heard their outcry and these words. After serious thought, I rebuked the nobles and rulers, and said to them," Each of you is exacting usury from his brother."So I called a great assembly against them....
"Please, let us stop this usury! Restore now to them, even this day, their lands, their vineyards, their olive groves, and their houses, also one percent of the money and the grain, the new wine and the oil, that you have charged them."
(Nehemiah 5:3-7,10-11) Note how Nehemiah was utterly appalled about even 1% interest! This would be considered charity by today's banking standards! This blows the argument of many self-proclaimed Jews & Christians who claim, along with many Muslims, Buddhists, & Hindus, that usury is "excessive interest," while "regular interest" is okay. Usury is interest is usury is interest: there is no difference.
Christianity
Jesus said, "If you have money, do not lend it at interest. Rather, give to someone from whom you will not get it back." (Gospel of Thomas 95)
Many "Christian" businessmen theologians erroneously state that the New Testament is silent about forbidding interest. But the New Testament clearly goes even a step beyond forbidding interest, telling us to lend, expecting nothing at all in return. On top of that, we are to not even owe. On top of that, we are to forgive all debts!
Islam
Those who swallow down interest cannot arise except as one whom Satan has prostrated by his touch does raise. . . . . Allah does not bless charging interest, and He causes charitable deeds to prosper, and Allah does not love any ungrateful sinner. Surely they who believe and do good deeds and keep up prayer and give charity, they shall have their reward from their Lord, and they shall have no fear, nor shall they grieve. O you who believe! Be careful of your duty to Allah and forgive what remains due from charging interest, if you are believers. (Quran 2:275-278)
And whatever you give in interest, so that it may increase in the property of men, it shall not increase with Allah; and whatever you give in charity, desiring Allah's pleasure-- it is you who shall receive manifold. (Quran 30:39)
O you who believe, you shall not take interest, compounded over and over. Observe God, that you may succeed. (Quran 3:130)
And for charging interest, which was forbidden, and for consuming the people's money illicitly. We have prepared for the disbelievers among them painful retribution. (Quran 4:161)
The Messenger of God used to pray in his prayers, and said:
"O Allah! I seek refuge in you from sin and from being in debt."
Someone asked him, "How often do you, O Messenger of Allah, seek refuge from being in debt?" He said: "When a man is in debt he speaks and tells lies, and he promises and breaks the promise." (Hadith, Bukhari 43:10)
And if the debtor is in straightness, then let there be a postponement until he is in ease; and if you forgive it as charity it is better for you, if you knew. (Quran 2:280)
"The Messenger of God said, cursed is the usurer and the man who pays usury and the writer of the transaction and the two witnesses thereof,"
and he said, "They are alike." (Hadith, Muslim Mishkat 12:4)
Even despite Islam's clear denouncement of all forms of interest, there are businessmen "Muslims" who pull the same trick as westerners, claiming that "usury" means "excessive interest" and that "regular interest" is okay. Yet, the scriptural Arabic word for usury is riba (an excess or addition), meaning an addition over and above the principal sum that is lent [Lane's Arabic-English Lexicon], showing no distinction between usury and interest. Then there are others who disagree, yet support "Islamic" banking which claims not to charge interest. Instead, the "Islamic" bank buys the item the borrower wants to buy and sells it to the borrower at a profit. Isn't charging interest under such pretense even more deceptive than out-rightly charging interest?
Hinduism
A Brâhmana and a Kshatriya shall not lend anything at interest... 'He who acquiring property cheap, gives it for a high price, is called a usurer and blamed among those who recite the Veda.'
'God weighed in the scales the crime of killing a learned Brâhmana against the crime of charging interest; the slayer of the Brâhmana remained at the top, the charger of interest sank downwards.' (Vasishtha, The Sacred Laws of the Aryas, Part II, Chptr 2, vs 40-42) Note how the Hindu Sage Vasishtha considered charging interest a crime worse than murder. Real and blatant slavery of men, women and children, is rampant in India because of India's disregard for her own Hindu principles. Also, as in Christianity, we see in the Bhagavad Gita that later Hinduism goes even a step beyond forbidding charging interest, imploring us over and over and over to do nothing for the sake of reward, give expecting nothing in return, but simply to do for the sake of
Sikhism
My only Support is the Naam,
the Name of the Lord;
as He keeps me, I survive.
The leaders and kings shall not remain.
The bankers shall die,
after accumulating their wealth and money.
Grant me, O Lord,
the wealth of Your Ambrosial Naam.
(Guru Nanak Dev,
The scope will not extend to a full exploration of some of the proposed modern alternatives to usury, except to describe the growing practice of Islamic banking as an example. A previous section on Islamic prohibition of usury made mention of the rejection by Islam of financial interest or riba, largely on the grounds of its negative distributive justice and equity effects (Khan, 1986). Out of this prohibition has developed perhaps the most sophisticated and complete theoretical systems of interest-free political economy in the world (Chouhury & Malik, 1992).
The specific methods for implementing Islamic banking have centred around financial equity based approaches, most notably Mudarabah - a joint venture between the bank and a ‘partner’ with both contributing to the capital of the project and sharing the profit or loss - and Musharakah - in which all the capital for an investment is provided by the bank in return for a predetermined share of the profit or loss of the business undertaking (Kahn & Mirakhor, 1986).
The first modern Islamic bank was established in the 1960s in Egypt (The Banker, 1989) and in the ensuing three decades, Islamic banking has grown into an industry with $80 billion in deposits and 100 banks and finance houses (Khalaf, 1995). Much of this growth has been as a result of the comprehensive attempts by Iran, Pakistan and Sudan over past 10 years to restructure their national banking systems to bring them into accordance with Islamic law of the Shari’ah (Aftab, 1986; The Economist, 1992a). In addition, increasing numbers of banks outside these countries, including in Western countries, have begun to offer parallel Islamic banking services (O’Brien & Palmer, 1993). As recently as 1996, the UK joined these latter ranks, with Flemmings Merchant Bank (1996) offering the first Islamic banking service, the Oasis Fund, to British customers.
The claimed advantages of the Islamic banking approach to finance are that it results in: more just and equitable distribution of resources; more responsible and profitable lending due to the necessarily closer bank-client relationship; less volatile business cycles; and more stable banking systems (Taylor & Evans, 1987); as well as “the relative efficiency of the interest-free money system over the alternative interest-based system” (Darrat, 1988). On the other hand, the Islamic banking industry has been criticised on a number of counts too: for its lack of uniformity and standardisation of products, accounting systems and endorsements by different sharia boards (Khalaf op.cit); various bad-debt complications (Shreeve, 1988); the information-gathering burden on potential consumers and banks themselves to ensure the security and profitability of their funds, as well the lack of an interest-rate mechanism to use as a macro-economic tool (The Economist, 1992b). However, these limitations must be viewed against the backdrop of Islamic banking as a young and innovative growth market.
The fact that we live in a global economic system which is more usurious/interest-based than ever before begs the question, therefore: Are any of these criticisms of the past either serious and convincing enough or currently relevant enough to merit a legitimate challenge to the status quo? In conclusion, every one of the reasons cited in the critique of usury, perhaps with the exception of “double billing”, seems more pressing and relevant now than ever. In particular, it is believed that individuals or organisations in the West with money to invest, especially those which like to consider themselves as being ethical, might have rather more to learn from Islam than is generally acknowledged. But first, society needs to be re-conscientised to the relevance of the age-old usury debate in modern times.](https://fbcdn-sphotos-f-a.akamaihd.net/hphotos-ak-xfp1/t1.0-9/10389479_1433849000219578_2554883132279875485_n.jpg)
USURY IS A POISONOUS APPLE FROM GARDEN OF EDEN
"A TIME WILL COME OVER PEOPLE WHEN NOT A SINGLE PERSON WILL REMAIN WHO DOES NOT SWALOW DOWN USURY , AND IF ONE DOES NOT SWALLOW IT, ITS VAPOR WILL OVERTAKE HIM."
(Prophet Muhammad SAW, Hadith Abu Dawud Mishkat 12:4)
"The 7.00 AM is a time to be FED into Seven deadly sins of the World Commerce Seven Headed Dragon of Pride, Greed, Lust, Envy, Wrath, Sloth and Gluttony, and some are of religious devotees, trapped in a never-ending sin-and-repent cycle in a temple"
"LUCIFER HAD SUCCESSFULLY FED THE ENTIRE GLOBAL POPULATION'S MINDS AND SOULS WITH A USURY POISONED APPLE FROM THE MOST EVIL ILLUSION AND MIND-SET TREE OF CAPITALISM, THE ENTHUSASTIC AND SUPERTITIOUS SCIENCE. THEY ARE CUSTOMARILY BRAINWASHED, BLINDLY VICTIMISED AND SYSTEMATICALLY ENSLAVED AND KEEPING IN THE CONSTANT JAHILIYYAH HIJAB (IGNORANCE WALL) ON BABYLONIAN - PHARAONIST ROMAN EMPIRE ARMS, DEBTS, AND THEN MAGICALLY FLOCKED INTO CEREMONIAL AND OFFICIAL NATION STATES RELIGIONS WHICH ARE THE GREATEST MANIPULATORS OF INTEREST BANKING SYSTEM CLAIM. ALL GOVERNED BY MAJOR KHAZAR (FAKE) JEWISH BANKSTERS WHO OWN EACH OTHER OF MOST TRANSNATIONAL BANKS AND CORPORATIONS PLUS A HUGE CHUNK OF WORLD LAND.:
The fight against usury goes back to the earliest known beginnings of civilization. From the days of Sumer to the present, decent people have struggled against this fruit of the tree of darkness. Charging interest was condemned by the ancient Greek philosophers. Money was to them something dead; something dead cannot be allowed to grow. Aristotle wrote in his work Politics (Book One, Part X):
“The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest… Wherefore of all modes of getting wealth this is the most unnatural.” "No one shall deposit money with anyone he does not trust, nor lend at interest, since it is permissible for the borrower to refuse entirely to pay back either interest or principle." (Plato, Laws) "The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid greed.... Hence of all the kinds of wealth acquisition this one is the most unnatural". (Aristotle, Politics)
The practice of usury can be traced back approximately four thousand years (Jain, 1929), and during its subsequent history it has been repeatedly condemned, prohibited, scorned and restricted, mainly on moral, ethical, religious and legal grounds. Among its most visible and vocal critics have been the religious institutions of Hinduism, Buddhism, Judaism, Islam, Christianity, Ancient Philosophers and Politicians, as well as various modern Socio-Economic Reformers. Up until the end of the Middle Ages it was forbidden for Christians to charge interest. To charge interest on a loan was tantamount to murder and robbery, and were treated as heretics. Later, usury had been the cause above all modern secret crimes, impenetrable and hidden in the most civil wars , monarchs and state leaders assassinations, French, Bolshevik revolutions, Opium wars in China, World War 1 & 2, Titanic, Pearl Harbor, 9/11 and so on
JEWISH USURY ENSLAVEMENT OF EUROPEAN THROUGH CALVINIST-PURITAN AMSTERDAMERS AND LONDON GATE
.The Jews had been expelled from Britain in 1290. This was a few decades after the Magna Carta, which clearly points at Jewish Usury as a huge problem at the time.---Cromwell, who was a calvinist Puritan, negotiated extensively with Amsterdam Jews about resettlement.
Resettlement came with the promise of making London a better Amsterdam. And while British merchants (and many others too) were against the readmittance of the Jews, Cromwell went ahead anyway. The Puritans were optimistic and naive and thought they could ‘redeem’ the Jews. But while Jewish Capital indeed pushed Britain’s Empire to unprecedented heights, there was no redemption: by the end of the 19th century the British Aristocracy had been entirely Judaized.
While Cromwell, as a tool of Amsterdam Imperialism, ultimately failed, the Jews did not relent and they had a second shot at London with the Glorious Revolution, when William III of Orange, Stadtholder of Holland, became William III of Britain and the Dutch Republic and England were united in a personal union.
He repaid his financial backers by chartering the Bank of England in 1694 and this was the official entry of Capitalism in Britain. It came with the end of sovereign money and the ascent of Gold: until then the British economy had been financed with Talley Sticks, simple pieces of wood issued by the King. British partners in the Bank paid for their shares with them, but the first thing the Bank did was take them out of circulation. The Bank of England is only the eigth bank in history and is the second oldest to survive today.
THE JEWISH USURY ENSLAVEMENT IN UNITED STATES.THROUGH LONDON, CIVIL WARS, VATICAN, ASSASSINATION OF LINCOLN BY A FREEMASON BOTHA, AND KENNEDY BY GAMBINO MAFIA FAMILY
-The real history of the United States is not about the War of Independence and the Constitution. It’s about banking. The United States did not revolt over ‘taxes without representation’. According to Benjamin Franklin the real reason for the War of Independence was that Whitehall forced scarce money through Britain’s Gold Standard on the Colonies, who had thrived with their own Colonial Scrip. A depression was the inevitable result. Only a few years after nominal independence, Hamilton’s first Bank of the United States brought Capitalism to the United States. It was closed in 1800, but in 1816, in the aftermath of the war with Britain, a second Bank of the United States (a privately owned corporation) was opened with a 20 year charter. The heroic President Andrew Jackson did not renew this charter and miraculously survived an attempt on his life. His last words, ‘I killed the Bank’ still ring triumphantly through the ages. Unfortunately, he failed to replace it with a decent monetary system and the country was plunged in a depression because of a tanking money supply. This left the Whigs, Abraham Lincoln prominently among them, plenty of scope to campaign for a new ‘National’ Bank, which came in the aftermath of the Civil War. In 1913 the Federal Reserve Bank was founded. This privately owned corporation is owned by primarily Jewish ‘member banks’. The presidents of the Federal Reserve are always Jewish and by far most of its board members are too. It’s no secret Wall Street is run by the Jews and is now the global standard bearer of Jewish Usury with derivatives being the scam du jour.
Of course there are Americans in Wall Street too, just as there are Englishmen in the City or Germans in Deutsche Bank, but whereas these nationalities compete amongst each other, the Jews are strong in all nations and this gives them supremacy. Equally true is that the Jewish many gain nothing from the banking prowess of their ‘elites’. They may have some privileges, but on the other hand they’re also easily duped into nasty affairs or sacrificed like the pawns we all are.
But considering the above history of Capitalism and Jewish Usury, it is very hard to avoid the conclusion that they are the same thing. The North during the Civil War was financed by the Rothschilds through their America agent August Belmont (actually Schoenberg) and the South by the Erlanger brothers who were related to the Rothschild family.
The Civil War ended on April 9, 1865, and International Jewish Usury got busy to remove President Lincoln. The assassination of Lincoln was carried out by John Wilkes Booth (Botha), a Freemason of the 33rd degree, on April 15, 1865, in Washington, D.C., only six days after the end of the Civil War. Izola Forrester, Booth’s granddaughter, stated in her book, This One Mad Act (1937), that Booth belonged to the lodge Knights of the Golden Circle and also Giuseppe Mazzini’s “revolutionary” movement Young America. Izola Forrester revealed in detail that the Freemasons were involved in the assassination of the president. Booth was soon eliminated. (Capitalism is jewish Usury - Anthony Migchels) :http://realcurrencies.wordpress.com/2014/06/05/capitalism-is-jewish-usury/ -
Why President John F. Kennedy was assassinated? Notice the top bill (newly printed courtesy of JFK in 1963), reads (on the very top) "United States Note", while the bottom bill reads "Federal Reserve Note" (as bills still read today).
On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned (and thus ILLEGALLY placed in control of our currency, 100 years ago) Federal Reserve Bank would soon be out of :http://worldtruth.tv/
business:http://www.fivefamiliesnyc.com/2011/02/mafia-killed-jfk-says-author.html
http://the-tap.blogspot.com/2013/12/vatican-killed-kennedy-says-mafia-boss.html
http://www.alamoministries.com/content/english/newsreleases/mafia_vatican.html
http://www.globalsecurity.org/intell/ops/mongoose-jfk-mob.htm
http://projectavalon.net/forum4/showthread.php?67383-Grandson-of-Lucky-Luciano-
EVERY RELIGION WARS AGAINST USURY :
Buddhism
"One discerns wrong livelihood as wrong livelihood, and right livelihood as right livelihood. And what is wrong livelihood? Scheming, persuading, hinting, belittling, and charging interest. This is wrong livelihood."
--Siddharta Gautama Buddha in his sermon on the Eightfold Path (Majjhima Nikaya Suttra 117)
Judaism
If one has charged interest or taken increase-- shall he then live? He shall not live! If he has done any of these abominations, he shall surely die; his blood shall be upon him. Prophet Ezekiel (18:13) He does not put out his money at interest, nor does he take a bribe against the innocent. He who does these things will never be shaken.(David, Psalm 15:5) , (Solomon, Proverbs 28:8), (Moses, Deuteronomy 23:19) There were also some who said, "We have mortgaged our lands and vineyards and houses, that we might buy grain because of the famine." There were also those who said, "We have borrowed money for the king's tax on our lands and vineyards... and indeed we are forcing our sons and our daughters to be slaves, and some of our daughters have been brought into slavery. It is not in our power to redeem them, for other men have our lands and vineyards."
And I became very angry when I heard their outcry and these words. After serious thought, I rebuked the nobles and rulers, and said to them," Each of you is exacting usury from his brother."So I called a great assembly against them....
"Please, let us stop this usury! Restore now to them, even this day, their lands, their vineyards, their olive groves, and their houses, also one percent of the money and the grain, the new wine and the oil, that you have charged them."
(Nehemiah 5:3-7,10-11) Note how Nehemiah was utterly appalled about even 1% interest! This would be considered charity by today's banking standards! This blows the argument of many self-proclaimed Jews & Christians who claim, along with many Muslims, Buddhists, & Hindus, that usury is "excessive interest," while "regular interest" is okay. Usury is interest is usury is interest: there is no difference.
Christianity
Jesus said, "If you have money, do not lend it at interest. Rather, give to someone from whom you will not get it back." (Gospel of Thomas 95)
Many "Christian" businessmen theologians erroneously state that the New Testament is silent about forbidding interest. But the New Testament clearly goes even a step beyond forbidding interest, telling us to lend, expecting nothing at all in return. On top of that, we are to not even owe. On top of that, we are to forgive all debts!
Islam
Those who swallow down interest cannot arise except as one whom Satan has prostrated by his touch does raise. . . . . Allah does not bless charging interest, and He causes charitable deeds to prosper, and Allah does not love any ungrateful sinner. Surely they who believe and do good deeds and keep up prayer and give charity, they shall have their reward from their Lord, and they shall have no fear, nor shall they grieve. O you who believe! Be careful of your duty to Allah and forgive what remains due from charging interest, if you are believers. (Quran 2:275-278)
And whatever you give in interest, so that it may increase in the property of men, it shall not increase with Allah; and whatever you give in charity, desiring Allah's pleasure-- it is you who shall receive manifold. (Quran 30:39)
O you who believe, you shall not take interest, compounded over and over. Observe God, that you may succeed. (Quran 3:130)
And for charging interest, which was forbidden, and for consuming the people's money illicitly. We have prepared for the disbelievers among them painful retribution. (Quran 4:161)
The Messenger of God used to pray in his prayers, and said:
"O Allah! I seek refuge in you from sin and from being in debt."
Someone asked him, "How often do you, O Messenger of Allah, seek refuge from being in debt?" He said: "When a man is in debt he speaks and tells lies, and he promises and breaks the promise." (Hadith, Bukhari 43:10)
And if the debtor is in straightness, then let there be a postponement until he is in ease; and if you forgive it as charity it is better for you, if you knew. (Quran 2:280)
"The Messenger of God said, cursed is the usurer and the man who pays usury and the writer of the transaction and the two witnesses thereof,"
and he said, "They are alike." (Hadith, Muslim Mishkat 12:4)
Even despite Islam's clear denouncement of all forms of interest, there are businessmen "Muslims" who pull the same trick as westerners, claiming that "usury" means "excessive interest" and that "regular interest" is okay. Yet, the scriptural Arabic word for usury is riba (an excess or addition), meaning an addition over and above the principal sum that is lent [Lane's Arabic-English Lexicon], showing no distinction between usury and interest. Then there are others who disagree, yet support "Islamic" banking which claims not to charge interest. Instead, the "Islamic" bank buys the item the borrower wants to buy and sells it to the borrower at a profit. Isn't charging interest under such pretense even more deceptive than out-rightly charging interest?
Hinduism
A Brâhmana and a Kshatriya shall not lend anything at interest... 'He who acquiring property cheap, gives it for a high price, is called a usurer and blamed among those who recite the Veda.'
'God weighed in the scales the crime of killing a learned Brâhmana against the crime of charging interest; the slayer of the Brâhmana remained at the top, the charger of interest sank downwards.' (Vasishtha, The Sacred Laws of the Aryas, Part II, Chptr 2, vs 40-42) Note how the Hindu Sage Vasishtha considered charging interest a crime worse than murder. Real and blatant slavery of men, women and children, is rampant in India because of India's disregard for her own Hindu principles. Also, as in Christianity, we see in the Bhagavad Gita that later Hinduism goes even a step beyond forbidding charging interest, imploring us over and over and over to do nothing for the sake of reward, give expecting nothing in return, but simply to do for the sake of
Sikhism
My only Support is the Naam,
the Name of the Lord;
as He keeps me, I survive.
The leaders and kings shall not remain.
The bankers shall die,
after accumulating their wealth and money.
Grant me, O Lord,
the wealth of Your Ambrosial Naam.
(Guru Nanak Dev,
The scope will not extend to a full exploration of some of the proposed modern alternatives to usury, except to describe the growing practice of Islamic banking as an example. A previous section on Islamic prohibition of usury made mention of the rejection by Islam of financial interest or riba, largely on the grounds of its negative distributive justice and equity effects (Khan, 1986). Out of this prohibition has developed perhaps the most sophisticated and complete theoretical systems of interest-free political economy in the world (Chouhury & Malik, 1992).
The specific methods for implementing Islamic banking have centred around financial equity based approaches, most notably Mudarabah - a joint venture between the bank and a ‘partner’ with both contributing to the capital of the project and sharing the profit or loss - and Musharakah - in which all the capital for an investment is provided by the bank in return for a predetermined share of the profit or loss of the business undertaking (Kahn & Mirakhor, 1986).
The first modern Islamic bank was established in the 1960s in Egypt (The Banker, 1989) and in the ensuing three decades, Islamic banking has grown into an industry with $80 billion in deposits and 100 banks and finance houses (Khalaf, 1995). Much of this growth has been as a result of the comprehensive attempts by Iran, Pakistan and Sudan over past 10 years to restructure their national banking systems to bring them into accordance with Islamic law of the Shari’ah (Aftab, 1986; The Economist, 1992a). In addition, increasing numbers of banks outside these countries, including in Western countries, have begun to offer parallel Islamic banking services (O’Brien & Palmer, 1993). As recently as 1996, the UK joined these latter ranks, with Flemmings Merchant Bank (1996) offering the first Islamic banking service, the Oasis Fund, to British customers.
The claimed advantages of the Islamic banking approach to finance are that it results in: more just and equitable distribution of resources; more responsible and profitable lending due to the necessarily closer bank-client relationship; less volatile business cycles; and more stable banking systems (Taylor & Evans, 1987); as well as “the relative efficiency of the interest-free money system over the alternative interest-based system” (Darrat, 1988). On the other hand, the Islamic banking industry has been criticised on a number of counts too: for its lack of uniformity and standardisation of products, accounting systems and endorsements by different sharia boards (Khalaf op.cit); various bad-debt complications (Shreeve, 1988); the information-gathering burden on potential consumers and banks themselves to ensure the security and profitability of their funds, as well the lack of an interest-rate mechanism to use as a macro-economic tool (The Economist, 1992b). However, these limitations must be viewed against the backdrop of Islamic banking as a young and innovative growth market.
The fact that we live in a global economic system which is more usurious/interest-based than ever before begs the question, therefore: Are any of these criticisms of the past either serious and convincing enough or currently relevant enough to merit a legitimate challenge to the status quo? In conclusion, every one of the reasons cited in the critique of usury, perhaps with the exception of “double billing”, seems more pressing and relevant now than ever. In particular, it is believed that individuals or organisations in the West with money to invest, especially those which like to consider themselves as being ethical, might have rather more to learn from Islam than is generally acknowledged. But first, society needs to be re-conscientised to the relevance of the age-old usury debate in modern times.
"A TIME WILL COME OVER PEOPLE WHEN NOT A SINGLE PERSON WILL REMAIN WHO DOES NOT SWALOW DOWN USURY , AND IF ONE DOES NOT SWALLOW IT, ITS VAPOR WILL OVERTAKE HIM."
(Prophet Muhammad SAW, Hadith Abu Dawud Mishkat 12:4)
"The 7.00 AM is a time to be FED into Seven deadly sins of the World Commerce Seven Headed Dragon of Pride, Greed, Lust, Envy, Wrath, Sloth and Gluttony, and some are of religious devotees, trapped in a never-ending sin-and-repent cycle in a temple"
"LUCIFER HAD SUCCESSFULLY FED THE ENTIRE GLOBAL POPULATION'S MINDS AND SOULS WITH A USURY POISONED APPLE FROM THE MOST EVIL ILLUSION AND MIND-SET TREE OF CAPITALISM, THE ENTHUSASTIC AND SUPERTITIOUS SCIENCE. THEY ARE CUSTOMARILY BRAINWASHED, BLINDLY VICTIMISED AND SYSTEMATICALLY ENSLAVED AND KEEPING IN THE CONSTANT JAHILIYYAH HIJAB (IGNORANCE WALL) ON BABYLONIAN - PHARAONIST ROMAN EMPIRE ARMS, DEBTS, AND THEN MAGICALLY FLOCKED INTO CEREMONIAL AND OFFICIAL NATION STATES RELIGIONS WHICH ARE THE GREATEST MANIPULATORS OF INTEREST BANKING SYSTEM CLAIM. ALL GOVERNED BY MAJOR KHAZAR (FAKE) JEWISH BANKSTERS WHO OWN EACH OTHER OF MOST TRANSNATIONAL BANKS AND CORPORATIONS PLUS A HUGE CHUNK OF WORLD LAND.:
The fight against usury goes back to the earliest known beginnings of civilization. From the days of Sumer to the present, decent people have struggled against this fruit of the tree of darkness. Charging interest was condemned by the ancient Greek philosophers. Money was to them something dead; something dead cannot be allowed to grow. Aristotle wrote in his work Politics (Book One, Part X):
“The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest… Wherefore of all modes of getting wealth this is the most unnatural.” "No one shall deposit money with anyone he does not trust, nor lend at interest, since it is permissible for the borrower to refuse entirely to pay back either interest or principle." (Plato, Laws) "The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid greed.... Hence of all the kinds of wealth acquisition this one is the most unnatural". (Aristotle, Politics)
The practice of usury can be traced back approximately four thousand years (Jain, 1929), and during its subsequent history it has been repeatedly condemned, prohibited, scorned and restricted, mainly on moral, ethical, religious and legal grounds. Among its most visible and vocal critics have been the religious institutions of Hinduism, Buddhism, Judaism, Islam, Christianity, Ancient Philosophers and Politicians, as well as various modern Socio-Economic Reformers. Up until the end of the Middle Ages it was forbidden for Christians to charge interest. To charge interest on a loan was tantamount to murder and robbery, and were treated as heretics. Later, usury had been the cause above all modern secret crimes, impenetrable and hidden in the most civil wars , monarchs and state leaders assassinations, French, Bolshevik revolutions, Opium wars in China, World War 1 & 2, Titanic, Pearl Harbor, 9/11 and so on
JEWISH USURY ENSLAVEMENT OF EUROPEAN THROUGH CALVINIST-PURITAN AMSTERDAMERS AND LONDON GATE
.The Jews had been expelled from Britain in 1290. This was a few decades after the Magna Carta, which clearly points at Jewish Usury as a huge problem at the time.---Cromwell, who was a calvinist Puritan, negotiated extensively with Amsterdam Jews about resettlement.
Resettlement came with the promise of making London a better Amsterdam. And while British merchants (and many others too) were against the readmittance of the Jews, Cromwell went ahead anyway. The Puritans were optimistic and naive and thought they could ‘redeem’ the Jews. But while Jewish Capital indeed pushed Britain’s Empire to unprecedented heights, there was no redemption: by the end of the 19th century the British Aristocracy had been entirely Judaized.
While Cromwell, as a tool of Amsterdam Imperialism, ultimately failed, the Jews did not relent and they had a second shot at London with the Glorious Revolution, when William III of Orange, Stadtholder of Holland, became William III of Britain and the Dutch Republic and England were united in a personal union.
He repaid his financial backers by chartering the Bank of England in 1694 and this was the official entry of Capitalism in Britain. It came with the end of sovereign money and the ascent of Gold: until then the British economy had been financed with Talley Sticks, simple pieces of wood issued by the King. British partners in the Bank paid for their shares with them, but the first thing the Bank did was take them out of circulation. The Bank of England is only the eigth bank in history and is the second oldest to survive today.
THE JEWISH USURY ENSLAVEMENT IN UNITED STATES.THROUGH LONDON, CIVIL WARS, VATICAN, ASSASSINATION OF LINCOLN BY A FREEMASON BOTHA, AND KENNEDY BY GAMBINO MAFIA FAMILY
-The real history of the United States is not about the War of Independence and the Constitution. It’s about banking. The United States did not revolt over ‘taxes without representation’. According to Benjamin Franklin the real reason for the War of Independence was that Whitehall forced scarce money through Britain’s Gold Standard on the Colonies, who had thrived with their own Colonial Scrip. A depression was the inevitable result. Only a few years after nominal independence, Hamilton’s first Bank of the United States brought Capitalism to the United States. It was closed in 1800, but in 1816, in the aftermath of the war with Britain, a second Bank of the United States (a privately owned corporation) was opened with a 20 year charter. The heroic President Andrew Jackson did not renew this charter and miraculously survived an attempt on his life. His last words, ‘I killed the Bank’ still ring triumphantly through the ages. Unfortunately, he failed to replace it with a decent monetary system and the country was plunged in a depression because of a tanking money supply. This left the Whigs, Abraham Lincoln prominently among them, plenty of scope to campaign for a new ‘National’ Bank, which came in the aftermath of the Civil War. In 1913 the Federal Reserve Bank was founded. This privately owned corporation is owned by primarily Jewish ‘member banks’. The presidents of the Federal Reserve are always Jewish and by far most of its board members are too. It’s no secret Wall Street is run by the Jews and is now the global standard bearer of Jewish Usury with derivatives being the scam du jour.
Of course there are Americans in Wall Street too, just as there are Englishmen in the City or Germans in Deutsche Bank, but whereas these nationalities compete amongst each other, the Jews are strong in all nations and this gives them supremacy. Equally true is that the Jewish many gain nothing from the banking prowess of their ‘elites’. They may have some privileges, but on the other hand they’re also easily duped into nasty affairs or sacrificed like the pawns we all are.
But considering the above history of Capitalism and Jewish Usury, it is very hard to avoid the conclusion that they are the same thing. The North during the Civil War was financed by the Rothschilds through their America agent August Belmont (actually Schoenberg) and the South by the Erlanger brothers who were related to the Rothschild family.
The Civil War ended on April 9, 1865, and International Jewish Usury got busy to remove President Lincoln. The assassination of Lincoln was carried out by John Wilkes Booth (Botha), a Freemason of the 33rd degree, on April 15, 1865, in Washington, D.C., only six days after the end of the Civil War. Izola Forrester, Booth’s granddaughter, stated in her book, This One Mad Act (1937), that Booth belonged to the lodge Knights of the Golden Circle and also Giuseppe Mazzini’s “revolutionary” movement Young America. Izola Forrester revealed in detail that the Freemasons were involved in the assassination of the president. Booth was soon eliminated. (Capitalism is jewish Usury - Anthony Migchels) :http://realcurrencies.wordpress.com/2014/06/05/capitalism-is-jewish-usury/ -
Why President John F. Kennedy was assassinated? Notice the top bill (newly printed courtesy of JFK in 1963), reads (on the very top) "United States Note", while the bottom bill reads "Federal Reserve Note" (as bills still read today).
On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned (and thus ILLEGALLY placed in control of our currency, 100 years ago) Federal Reserve Bank would soon be out of :http://worldtruth.tv/
business:http://www.fivefamiliesnyc.com/2011/02/mafia-killed-jfk-says-author.html
http://the-tap.blogspot.com/2013/12/vatican-killed-kennedy-says-mafia-boss.html
http://www.alamoministries.com/content/english/newsreleases/mafia_vatican.html
http://www.globalsecurity.org/intell/ops/mongoose-jfk-mob.htm
http://projectavalon.net/forum4/showthread.php?67383-Grandson-of-Lucky-Luciano-
EVERY RELIGION WARS AGAINST USURY :
Buddhism
"One discerns wrong livelihood as wrong livelihood, and right livelihood as right livelihood. And what is wrong livelihood? Scheming, persuading, hinting, belittling, and charging interest. This is wrong livelihood."
--Siddharta Gautama Buddha in his sermon on the Eightfold Path (Majjhima Nikaya Suttra 117)
Judaism
If one has charged interest or taken increase-- shall he then live? He shall not live! If he has done any of these abominations, he shall surely die; his blood shall be upon him. Prophet Ezekiel (18:13) He does not put out his money at interest, nor does he take a bribe against the innocent. He who does these things will never be shaken.(David, Psalm 15:5) , (Solomon, Proverbs 28:8), (Moses, Deuteronomy 23:19) There were also some who said, "We have mortgaged our lands and vineyards and houses, that we might buy grain because of the famine." There were also those who said, "We have borrowed money for the king's tax on our lands and vineyards... and indeed we are forcing our sons and our daughters to be slaves, and some of our daughters have been brought into slavery. It is not in our power to redeem them, for other men have our lands and vineyards."
And I became very angry when I heard their outcry and these words. After serious thought, I rebuked the nobles and rulers, and said to them," Each of you is exacting usury from his brother."So I called a great assembly against them....
"Please, let us stop this usury! Restore now to them, even this day, their lands, their vineyards, their olive groves, and their houses, also one percent of the money and the grain, the new wine and the oil, that you have charged them."
(Nehemiah 5:3-7,10-11) Note how Nehemiah was utterly appalled about even 1% interest! This would be considered charity by today's banking standards! This blows the argument of many self-proclaimed Jews & Christians who claim, along with many Muslims, Buddhists, & Hindus, that usury is "excessive interest," while "regular interest" is okay. Usury is interest is usury is interest: there is no difference.
Christianity
Jesus said, "If you have money, do not lend it at interest. Rather, give to someone from whom you will not get it back." (Gospel of Thomas 95)
Many "Christian" businessmen theologians erroneously state that the New Testament is silent about forbidding interest. But the New Testament clearly goes even a step beyond forbidding interest, telling us to lend, expecting nothing at all in return. On top of that, we are to not even owe. On top of that, we are to forgive all debts!
Islam
Those who swallow down interest cannot arise except as one whom Satan has prostrated by his touch does raise. . . . . Allah does not bless charging interest, and He causes charitable deeds to prosper, and Allah does not love any ungrateful sinner. Surely they who believe and do good deeds and keep up prayer and give charity, they shall have their reward from their Lord, and they shall have no fear, nor shall they grieve. O you who believe! Be careful of your duty to Allah and forgive what remains due from charging interest, if you are believers. (Quran 2:275-278)
And whatever you give in interest, so that it may increase in the property of men, it shall not increase with Allah; and whatever you give in charity, desiring Allah's pleasure-- it is you who shall receive manifold. (Quran 30:39)
O you who believe, you shall not take interest, compounded over and over. Observe God, that you may succeed. (Quran 3:130)
And for charging interest, which was forbidden, and for consuming the people's money illicitly. We have prepared for the disbelievers among them painful retribution. (Quran 4:161)
The Messenger of God used to pray in his prayers, and said:
"O Allah! I seek refuge in you from sin and from being in debt."
Someone asked him, "How often do you, O Messenger of Allah, seek refuge from being in debt?" He said: "When a man is in debt he speaks and tells lies, and he promises and breaks the promise." (Hadith, Bukhari 43:10)
And if the debtor is in straightness, then let there be a postponement until he is in ease; and if you forgive it as charity it is better for you, if you knew. (Quran 2:280)
"The Messenger of God said, cursed is the usurer and the man who pays usury and the writer of the transaction and the two witnesses thereof,"
and he said, "They are alike." (Hadith, Muslim Mishkat 12:4)
Even despite Islam's clear denouncement of all forms of interest, there are businessmen "Muslims" who pull the same trick as westerners, claiming that "usury" means "excessive interest" and that "regular interest" is okay. Yet, the scriptural Arabic word for usury is riba (an excess or addition), meaning an addition over and above the principal sum that is lent [Lane's Arabic-English Lexicon], showing no distinction between usury and interest. Then there are others who disagree, yet support "Islamic" banking which claims not to charge interest. Instead, the "Islamic" bank buys the item the borrower wants to buy and sells it to the borrower at a profit. Isn't charging interest under such pretense even more deceptive than out-rightly charging interest?
Hinduism
A Brâhmana and a Kshatriya shall not lend anything at interest... 'He who acquiring property cheap, gives it for a high price, is called a usurer and blamed among those who recite the Veda.'
'God weighed in the scales the crime of killing a learned Brâhmana against the crime of charging interest; the slayer of the Brâhmana remained at the top, the charger of interest sank downwards.' (Vasishtha, The Sacred Laws of the Aryas, Part II, Chptr 2, vs 40-42) Note how the Hindu Sage Vasishtha considered charging interest a crime worse than murder. Real and blatant slavery of men, women and children, is rampant in India because of India's disregard for her own Hindu principles. Also, as in Christianity, we see in the Bhagavad Gita that later Hinduism goes even a step beyond forbidding charging interest, imploring us over and over and over to do nothing for the sake of reward, give expecting nothing in return, but simply to do for the sake of
Sikhism
My only Support is the Naam,
the Name of the Lord;
as He keeps me, I survive.
The leaders and kings shall not remain.
The bankers shall die,
after accumulating their wealth and money.
Grant me, O Lord,
the wealth of Your Ambrosial Naam.
(Guru Nanak Dev,
The scope will not extend to a full exploration of some of the proposed modern alternatives to usury, except to describe the growing practice of Islamic banking as an example. A previous section on Islamic prohibition of usury made mention of the rejection by Islam of financial interest or riba, largely on the grounds of its negative distributive justice and equity effects (Khan, 1986). Out of this prohibition has developed perhaps the most sophisticated and complete theoretical systems of interest-free political economy in the world (Chouhury & Malik, 1992).
The specific methods for implementing Islamic banking have centred around financial equity based approaches, most notably Mudarabah - a joint venture between the bank and a ‘partner’ with both contributing to the capital of the project and sharing the profit or loss - and Musharakah - in which all the capital for an investment is provided by the bank in return for a predetermined share of the profit or loss of the business undertaking (Kahn & Mirakhor, 1986).
The first modern Islamic bank was established in the 1960s in Egypt (The Banker, 1989) and in the ensuing three decades, Islamic banking has grown into an industry with $80 billion in deposits and 100 banks and finance houses (Khalaf, 1995). Much of this growth has been as a result of the comprehensive attempts by Iran, Pakistan and Sudan over past 10 years to restructure their national banking systems to bring them into accordance with Islamic law of the Shari’ah (Aftab, 1986; The Economist, 1992a). In addition, increasing numbers of banks outside these countries, including in Western countries, have begun to offer parallel Islamic banking services (O’Brien & Palmer, 1993). As recently as 1996, the UK joined these latter ranks, with Flemmings Merchant Bank (1996) offering the first Islamic banking service, the Oasis Fund, to British customers.
The claimed advantages of the Islamic banking approach to finance are that it results in: more just and equitable distribution of resources; more responsible and profitable lending due to the necessarily closer bank-client relationship; less volatile business cycles; and more stable banking systems (Taylor & Evans, 1987); as well as “the relative efficiency of the interest-free money system over the alternative interest-based system” (Darrat, 1988). On the other hand, the Islamic banking industry has been criticised on a number of counts too: for its lack of uniformity and standardisation of products, accounting systems and endorsements by different sharia boards (Khalaf op.cit); various bad-debt complications (Shreeve, 1988); the information-gathering burden on potential consumers and banks themselves to ensure the security and profitability of their funds, as well the lack of an interest-rate mechanism to use as a macro-economic tool (The Economist, 1992b). However, these limitations must be viewed against the backdrop of Islamic banking as a young and innovative growth market.
The fact that we live in a global economic system which is more usurious/interest-based than ever before begs the question, therefore: Are any of these criticisms of the past either serious and convincing enough or currently relevant enough to merit a legitimate challenge to the status quo? In conclusion, every one of the reasons cited in the critique of usury, perhaps with the exception of “double billing”, seems more pressing and relevant now than ever. In particular, it is believed that individuals or organisations in the West with money to invest, especially those which like to consider themselves as being ethical, might have rather more to learn from Islam than is generally acknowledged. But first, society needs to be re-conscientised to the relevance of the age-old usury debate in modern times.
No comments:
Post a Comment