The Birth Pangs of the Amero

On Sunday George Soros was interviewed on CNN for his opinion on the present financial crisis. George Soros said that the days of the United States borrowing from China were over. The position of the United States as financial leader of the world is now compromised. The US debt load is going to dramatically increase in the coming months. Just too much growing leverage. The middle class will be squeezed out and down. The era of the past 30 years are over. A new world order is now being established.  >>>>>

West turning to sukuk as debt markets dry up

“I think foreign companies realise there are alternatives and they will explore more, and look at new initiatives at Islamic banks to draw more capital and resources to service their clients. This is certainly growing,” Pitsuan told Arabian Business on the sidelines of the conference. >>>>>

Financial crisis: Countries at risk of bankruptcy from Pakistan to Baltics

There are mounting fears that Ukraine, Kazakhstan, and Argentina could all now slide into a downward spiral towards bankruptcy, while western banks exposed to property bubble across Eastern Europe have seen their share price crushed.

The markets are pricing an 80pc risk that Ukraine will default, based on five-year credit default swaps (CDS) – an insurance policy on a country being able to pay its debts.  >>>>>

For a rational solution to this, go to the next post.

Prudent economics – “Replace capitalism with Islamic financial system,” says cleric

In response to: Replace capitalism with Islamic financial system: cleric

“The collapse of the capitalist system based on usury and paper and not on goods traded on the market is proof that it is in crisis and shows that Islamic economic philosophy is holding up,” said the Egyptian-born, Qatar-based cleric.

“The Western system has collapsed and we have a complete economic philosophy as well as spiritual strength,” he said at Sunday’s opening of a conference on Jerusalem. >>>>>

In an economic “system based on usury and paper and not on goods traded on the market” the borrower, (the average Westerner), is in a state of crisis from the signing of the contract.  The primary reason why many Western experts oppose this, is not because of the name Islam, but because Muslims are amongst the primary whistle-blowers about the inevitability of unjust economic enslavement of the average person.

Those who stand to benefit in a system that practices usury/interest are amongst the primary public-relations representative and co-conspirators of establishing a state of Islamophobia.

Take away the label of Islam, and deal with pure mathematics, logic, social conscience and justice — and the Islamic economic system is no doubt superior to capitalism and communism – put together.

Like the term ‘democracy,’ ‘capitalism’ is purported as great, but in practice is not even applied by the people who champion the cause.

Anti-Democratic Nature of US Capitalism is Being Exposed

Such interventionism is a regular feature of state capitalism, though the scale today is unusual. A study by international economists Winfried Ruigrok and Rob van Tulder 15 years ago found that at least 20 companies in the Fortune 100 would not have survived if they had not been saved by their respective governments, and that many of the rest gained substantially by demanding that governments “socialise their losses,” as in today’s taxpayer-financed bailout. Such government intervention “has been the rule rather than the exception over the past two centuries”, they conclude. >>>>>

Indonesia keeps stock exchanged closed

But President Susilo Bambang Yudhoyono and his economic team have sought this week to reassure investors that the economy is in much better placed now to weather any crisis.

The chairman of Indonesia’s capital market watchdog Fuad Rahmany says they suspended the stock exchange because the market had become panicky and irrational.  >>>>>

Bush, McCain abuse their legacy

I am not a conventionally religious man, or even a very superstitious one, but I do wish George W. Bush would stop asking God to bless America.  Every time he does, we seem to be visited with another plague, suggesting divine wrath over our president’s evil ways. How else to explain the persistent calamity that has marked this administration: a pointless but very costly war over nonexistent Iraqi WMD, the destruction by flood of New Orleans, the betrayal of the nation by the moneychangers – from Enron to Goldman Sachs – who Bush welcomed into the temple of the White House?  >>>>>

Oil, war, lies and bulls**t

There’s hardly any doubt that the George W Bush administration lied rather consciously about the cause of invasion and subsequent occupation of Iraq. President George W Bush also has been deliberately untruthful to the American public on a number of domestic issues, such as illegal, indiscriminate wiretapping of US citizens, torture of foreign detainees and American political prisoners, and limitless encroachment on civil, human, and legal rights of the American citizenry at large.  >>>>>

Cambodia’s Muslims as geopolitical pawns

PHNOM PENH – Competition for influence in Cambodia, recently seen as a two-country race between the United States and China, has now seen another deep-pocketed suitor emerge: petrodollar-rich Gulf states.

While Washington has required counter-terrorism cooperation for its assistance, and Beijing has sought greater access to markets, Middle Eastern countries seem keen to build religious ties with Cambodia’s Muslim Cham minority.  >>>>>

Iraq to Give 82% of Proven Oil Reserves to International Oil Companies

A new decision by the Iraqi parliament leaves Iraqi minorities with no representation in the country’s provincial councils as well as the legislature, Nidhal al-Laithi reports for Azzaman. By an overwhelming majority, the parliament early this week revoked paragraph 50 from the constitution under which Iraqi minorities were assigned a set of seats in legislative and municipal councils. The revocation has sparked mass demonstrations in areas where these minorities live, particularly in the northern Province of Nineveh of which Mosul is the capital.  >>>>>

Shock and Awe: Bipartisan Beltway Terrorists Launch Economic 9/11 on the American People

You’ve seen the news. You know the score. The House of Representatives has now completed the economic terrorist attack inflicted on the American people by the nation’s elite

The bailout bill — or as Arthur Silber more rightly terms it, the “Extortion Bill” — is already law, thanks to the Democrats in Congress, and to Barack Obama, who spent the day working the phones and twisting arms to make sure the $700 billion bonanza for the filthy rich passed without any more of the hiccups that held it up earlier this week.  >>>>>

Populists Back Ron Paul’s Plan To Kill the Fed

The trillion-dollar Wall Street bailout plan negotiated by the White House and Congress has reinvigorated the debate about Texas Republican Rep. Ron Paul’s Federal Reserve Board Abolition Act (HR 2755), which was introduced into Congress in June 2007…

However, there has been a great deal of discussion about this landmark legislation on the Internet and in the alternative press. Constitution Party presidential candidate Chuck Baldwin has even made abolishing the Fed one of the top planks in his platform.  >>>>>

The fundamental mess that is glossed over is not the name of the organization known as the Federal Reserve Bank (not officially a part of the U.S. Government – as its name suggests).  It is, rather, the practice of financial usury/interest.  It is this that is a great enemy to Muslims, yet is used as a tool of oppression – and indeed is financial terrorism – against the masses in the U.S. and around the world.  Muslims champion the elimination of this practice.  However, the Western populous usually doesn’t see this because the Islamic World is busy dodging the smear campaign of being terrorists when not dodging bombs and bullets by the real terrorists.

Credit crunch derails growth of Islamic debt instruments

London: Until recently, the Islamic debt market was expanding at a clip, doubling in size every year from 2004 to reach a total outstanding figure of $90 billion. Even the British government was mulling an issue to burnish its credentials as a centre for Islamic finance. >>>>>

Gangsters Now Demanding that Europe pay 440 Billion dollars to Bailout Continent

What the hell is going on here?

Since the Federal Reserve and the US Treasury Department have made it clear that they will be bailing out European banks, why is more money needed for this scheme?

Will US banks and those on the continent engage in some type of complex scheme, where their books show “illiquid” assets to be bought by the US, then have those transferred to Europe, so they will collect twice on this blackmail scheme?

The Western world is rife with the most unjust and poorest (pun intended) fundamental economic policy (relying on interest/usury).  Those enemies of Islam, have duped their own country folk into letting them cash out on something more than the abusive system these very same countrymen live under.  This level of oppression continues to rock the Western World, while the payment of blood, natural resources and sovereignty is paid by Muslim people(s).

U.S. Ships 800 Billion “AMEROS” to China; prepares to De-Monetize U.S. Dollar

The US Secretary of the Treasury has informed the China Development Bank that the US has shipped $800 Billion of a new currency called the Amero, which is to be based upon the merging of the economies of The United States, Mexico and Canada into what is termed as The North American Union. >>>>>

Exit Tax for U.S. Expatriates Becomes Law

The new tax regime applies to certain individuals who relinquish their US citizenship and certain long-term U.S. residents (i.e., green card holders) who terminate their U.S. residence (hereafter referred to as ‘expatriates’). The so-called ‘mark-to-market’ tax will apply to the net unrealized gain on the expatriate’s worldwide assets as if such property were sold (the ‘deemed sale’) for its fair market value on the day before the expatriation date.  Any net gain on this deemed sale in excess of US$600,000 will be taxable.

In addition, trustees of non-grantor trusts must withhold and pay over to the IRS 30 percent of the portion of any distribution (whether direct or indirect) that would have been taxable to the expatriate had he not expatriated.  Failure to withhold the tax could subject the trustee to direct liability for the unpaid U.S. tax. >>>>>

The Rich Are Staging a Coup This Morning …a message from Michael Moore

Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies — who must soon vacate the White House — are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.  >>>>>

Investment scam shocks muslims in Chicago

State regulators are considering criminal charges against a developer named Ibrahim, who fraudulently persuaded hundreds of muslims to invest in real estate deals. Some gave Ibrahim their life savings or mortgaged their homes before he disappeared in August. Investors say they may loose more than USD 50 million.

Salman Ibrahim, CEO and President of the Chicago-based Shariah compliant financial services firm, which provided the market with competent and innovative Shariah Compliant investment products and services, duped the community. >>>>>

Muslims are not immune to crime or sin. Let’s hope that this case is not used as a case against sharia by Islamophobes. The focus should be whether the allegations are accurate.   If so, this is a criminal matter committed against Muslims based on domestic secular laws, and of course, these actions have not gone unnoticed by a Higher Power.

Credit Crunch ‘Will Help Islamic Banking’

With usury from loans banned by Islam, the leverage – or, more simply, the amount of money owed – by Islamic financial institutions also tends to be lower.

“Further growth of Islamic banking in the UK will also be attributed to their more conservative approach to financing, as the risks are shared with the investor…it is more difficult for Islamic financial institutions to use leverage; therefore their risk profile is naturally lower.”  >>>>>

What the West has called ‘conservative‘ seems to be radically liberal, not to mention corrupt, according to Islamic systems.  Today’s economic crises are proving this and showing how not only is it radical and corrupt; but entirely ineffective – for the masses, with an extra ‘bailout’ for the relatively few crooked.

This is a chance for Muslims to educate Westerners on some of the abuses on their own rights (in this case economic) which have caused a catastrophe that has not yet reached it’s highest pain threshold. This is not preaching; this is educating.

Usury, also known as interest (of any amount in Islam) continues to be overlooked by economic pundits as the root cause of the overall problem.  Even the founding fathers of American history warned us against it – (in case you need credible sources that are not Islamists).

At present, the bankers and U.S. Government are playing the biggest shell game with the US citizenry being the betters.  Not discussing Usury/Interest is like removing the pea from underneath all three shells.  Try to find the pea now.

Ministers to bring politics to pulpits

That would allow their patron, the conservative legal group Alliance Defense Fund, to challenge the IRS rules, a risky strategy that one defense fund attorney acknowledged could cost the churches their tax-exempt status. Congress made it illegal in 1954 for tax-exempt groups to support or oppose political candidates publicly.

“I’m going to talk about the un-biblical stands that Barack Obama takes. Nobody who follows the Bible can vote for him,” said the Rev. Wiley S. Drake of First Southern Baptist Church of Buena Park, Calif. “We may not be politically correct, but we are going to be biblically correct. We are going to vote for those who follow the Bible.”  >>>>>

Who is it that wants to attack the secular notion of democracy and bring about a theocracy to this nation?