Islam is the enemy of… the bankers

Posted in Columns and Letters

The minions of Satan are very upset. They face huge problems these days, the biggest being that the illusion of a free world they created to fool the people is fading fast, and it seems that they made little preparation for such an eventuality. Capitalism, like Communism, was bound to fail one day. Its proponents thought they had evolved from monkeys into human beings and achieved perfection by changing the simple yet effective economics of bygone days into the rotten neo-liberal economies of today. They are now desperate to preserve the status quo and the so-called norms of modern civilization – the diseases known as banks, interest, fractional reserve lending, fiat currency, the futures market, taxes, inflation, patriotism, nationalism, nation states, integration and so on.

A long time ago, people used to do business by bartering, trading goods for goods. Then they started using precious metals as a means of exchange, and this was the origin of currency. A coin of gold or silver would represent a bag of rice, a number of fish or some clothes. A number of gold or silver coins could get you a horse. People soon exchanged goods and services on the spot with trading done in currency of gold or silver.

Imagine this… one day, the goldsmith of a town decided to setup a bank, and he told the people that they could store their gold in his bank and trade using receipts that he would issue to them for the currency.
At first he issued one receipt for every coin of gold he kept in his store. The goldsmith, however, was very cunning. He began lending receipts to people, and started charging them interest on their repayments. He even started issuing receipts for gold that he did not even possess, as people trusted his receipts. He told people that they were free to do business of all sorts, and encouraged them to take loans of his receipts so that he could continue to benefit from the interest he charged on them.

Eventually the whole town was trading using the goldsmith’s receipts, which were not entirely backed by actual wealth in the form of gold or silver. He was just creating money by issuing un-backed receipts and charging interest on their repayment. This automatically caused the price of everything to increase. Where previously a single receipt would buy a bag of rice, there were now two receipts in the market chasing the same number of goods. So obviously the price of the bag of rice went up to two receipts.

The goldsmith quickly became the richest person in his town. Then one night, the goldsmith disappeared. When people rushed up to his shop, they found there was nothing stored there. The goldsmith had run away with all the gold and silver, and the receipts he had issued were useless.

This is not a fairy tale. All of this is happening around you today. Governments have done away with the gold and silver standards and they print money out of nothing, mere fiat currency, in a process fancifully termed ‘quantitative easing’. This raises prices – in other words, causing inflation. Issuing loans greater than what the bank actually holds as a deposit is called fractional reserve banking, and for a recent example of a ‘run on the banks’ just remember Northern Rock in the UK back in 2008.

Islam is the enemy of the goldsmith who has deceived the masses and enriched himself with the hard-earned wealth of innocent people. This banker is essentially an economic terrorist and he knows it well. He knows that Islam will do away with all his dirty tricks of fractional reserve banking, fiat currency and interest-based transactions and loans. He is rich so he is using his wealth to stop Islam, but God willing he will fail. Soon.

One Comment

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    “Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world.”