pay zakat in gold - critic magzine
TRANSCRIPT
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papercurrencybackedbynothingand itsvalue isdeterminedbyfloatingexchangerates. If itsbackedstrictlybygold
then it isnotpossible todoFRB simplybecauseaphysicalgold coin cannotbepassedon tomany in formof loan
enablingthemtouseitsimultaneously!
FromPapertoBitsIn reality,Paper currency isahoax (payorders,bonds, chequesandother receipts included)anddigitalcurrency (debt/creditcards)are
evenbiggerhoax,asitwassupposedtobebackedbygoldbutitsnot.
The reason paper currency superseded gold and silver was that it
couldbeproducedeffortlesslyandmultipliedmanytimesoverinform
ofdebtbypassing it through theFRBsystem.Thedigitalcurrency in
form of credit and debit cards has even eliminated minor
repercussionswhichpapercurrencyhad,likeprintinganddistribution,
asnowitsevenmoreeasiertogenerateandmultiplyitindigitalform,
thanksto
the
latest
information
technology.
The result is constantdepreciation of currencys value as itmultiplieswith time, in the formofdebt,when passes
throughtheFRBsystemofbanking(thesugarcoatedtermforthisphenomenon ineconomics istheMoneyMultiplie
Effect).Today3%ofBritainmoneysupply iscontrolledbygovernmentwhereas97% iscontrolledbybanks informof
debt3,evenworstisthecaseinUSA.Theresultisstaggeringinflationanddevaluation/debasementofpapercurrency
andthehardesthitarethepoorastheirsavingsdisintegratewiththerateof inflationcasedbyexcessmoneysupply
henceforth theyhave toputadditionalbackbreakingeffortjust tomaintain it.From Islamic standpoint,Ahadithand
Quranicverses,describing theeconomicruling,arebasedonDharamandDinnars,whichhasalwaysbeen in formo
goldandsilver.Bytheway1400yearsagoachickenpricetagwas1dinnarandtodayitsstill1dharami.e.3gramso
silvermeans
zero
inflation
in
terms
of
silver
currency
4
.
Paper currency isapivotalelementofDebt / Interestbasedeconomicenvironmentwhichenablesworldpowers to
accomplishtheiragendaofEconomicdominationandslavery(fordetailsofthisagendareadthebookbyConfessiono
anEconomicHitmanbyJohnPerkinswhoworkedatIMF),asitallowsthebankstocontrol,issueanddevaluethemoney
supply.
Devaluation of currency is practiced to keep countries under their economic rule. You must have noticed the
devaluationofRupee inthepastandmoresignificantly inrecenttimes.TheWorldBankoccasionallypushesPakistan
governmenttodevaluethecurrency(sourceDawnnewspaper)simplybecauseitincreasestheamountofdebtindollars
andtheinterestonthatdebt(previouslytopayback1dollar,wehadtoearnRs.60,nowwehavetoearnRs.70)asa
resultPakistan
has
to
pay
more
out
of
its
savings
for
an
even
longer
period
of
time.
TheGoldStandardof2.5%Weallknowthatthecurrencyused1400yearsbackwasDharamandDinnar,whichwereinfactgoldandsilvercoins
HenceforthZakatwasimpliedonindividualswhosesavingsweremorethanaspecificamounti.e.85gramsofgold,595
gramssilveror653kilogramsofcertaingrains.MinimumlimitofZakatwas2.5%ofthesavingindharam/dinarorothe
tradinggoodsand5~10%ongrains instockexceeding theminimum limit.Thisextractedamountofsavingsgoesto
3UK Money Supply Has Tripled Since 1997: www.dailyreckoning.com.au/ukmoneysupply/2007/10/09/, also see
www.prosperityuk.com/prosperity/prosperity.html4
www.goldprice.org/buying
gold/2006/02/islamic
gold
coins.html
"The dollar is America's greatest success
story, because each one costs less than a
pennytoproduceandyet,issoldthroughout
the world for $1 apiece. What American
export can match that?"Jim Grant, Grant's
InterestRateObserver,NYCConference
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pooranddeservingpeopleofthesociety.Todaywecalculateandpayintermsofpapercurrency.Ifthepoorguyspends
itimmediatelythenhehasnothingtolose.However,ifhekeptitforsaving,papercurrencydisintegrateswiththerate
ofinflation.
Pleasenote thatZakatcannotbepaidondebt! Itspaidon theRealWealth if itexceeds then limitsdefinedabove
Consideringan
economy
such
as
of
UK
as
example,
where
97%
of
all
the
money
supply
is
in
the
form
of
debt
created
by
fractionalreservesystemsofcommercialbanking,assumingthemassesareallMuslimandwantstopayZakatonthei
monetaryreservesthentheywillbeonlyabletopay2.5%ofthe3%ofrealmoneycirculating intheeconomy.Simila
wouldbethecase inUnitedStatesoranyotherdevelopedcountrywithsimilareconomicscenario.Thissimplymeans
thataMuslimeconomyifgetsmoreandmoredependentontheinterest/debtbasedfractionalreservebankingsystem
then themasseswillbecome increasinglyhandicapped topayZakat.Furthermore,wheneverapersonasks for some
debt from thebank, thebank in returnaskshim topledgewhatever realwealthhehas so thatbank can secure its
investment in case thecreditorgetsbankrupt.Thuspledging furtherdisables the creditor toextractaportionofhis
savingstohelpthepoorofthesociety.LittlesurprisewhenwesayRichsaregettingricherandpooraregettingpoorer
intodaysdebtreddenedsocalleddevelopedcountries
On the other side, It's estimated that the amount of gold mined
throughouthistoryisabout140,000tons.At$1,000perounce,thisis
worthabout$4trillion.IfthewholeworldpaysZakatonthatamount
(2.5%),theresultwouldbe$100billionannually.Wheatproductionis
expected to reach 645million tons in the 2008/2009 season. If the
wholeworldpaysZakat on that amount (5%forwheat), the result
wouldtotalmorethan32milliontonsforthisyear.Riceproductionis
421million tonsfor the2007/2008 season. If thewholeworldpays
Zakat on that amount, the resultwould totalmore than 21million
tons
for
this
year
5
.
This amount ismany timesmore than needed to raise all the poor
(more than half of the world population) to their feet!!! But the
prevailing situation is in fact entirely opposite simply because
economiesarebeingdrivenbyinterest/debtbasedFRBsystemwhich
areextractingalltheremnantsofRealwealth fromnockandcorners
oftheirrespectivesocieties,inexchangeofdebt,makingonlytherich
evenricherandthepoortodiewithhunger;25millionperyeartobe
exact6!!!
TheAlternateKeep inviewtheabovestatedpointsitsbecomesblatantlyclearthat ifwewanttoraisethestandardsof livingofthe
halfof theworldspopulation livingbelow thepoverty line thenwe reallyneed to get ridof interest /debtbased
economicsystemoperatingthroughFRB.The firstandmostconvenientstepwouldbe togetridofpaperanddigita
currencyandreplaceitwithGoldandsilver,simplybecauseitsnotpossibletoissue,controlanddevalueitasdonewith
existingformsofcurrency.
5http://en.wikipedia.org/wiki/Zakat6
25
million
die
of
hunger
ayear:
UN.
Source:
www.cbc.ca/news/story/2003/11/25/hunger031125.html
"Bankingwas conceived in iniquityandwas
borninsin.TheBankersowntheEarth.Take
it away from them, but leave them the
power tocreatedeposits,andwith the flick
of thepen theywill createenoughdeposits
tobuy itbackagain.However, take itaway
from them, and all the great fortunes like
mine will disappear, and they ought to
disappear,for
this
would
be
ahappier
and
better world to live in. But if you wish to
remain the slaves of Bankers and pay the
costofyourownslavery, let them continue
to create deposits." Sir Josiah Stamp,
PresidentoftheBankofEnglandinthe1920's,
thesecondrichestmaninBritain
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Asitisclearthatthepoorinthesocietyaregettingpoorerwitharate
currencyisbeingdevaluedwhichisinfacttherateofinflation,thusas
Muslimsour firstpriority shouldbe to save thepoor class from the
clawsofprevailingevilsoftheeconomicengine.
TheZakat
paid
by
Pakistanis
is
60
~70
billions
of
rupees.
If
this
is
paid
informofGoldandsilver,willbringfollowingadvantages
1. PoorclasswillbeabletodeveloptheirmonetaryreservesinformofGoldand Silver,which they areunable todevelop
duetotheirnegligibleincome.Asweknowthatthepriceof
GoldandSilverhasbeen increasingwithtime,thusthiswill
profitpoorclassinmonetaryterms.
2. If thismuchgoldandsilver is injectedatthebottomof thesociety, itwillencouragetheuseofgoldandsilverasaunit
of exchange. Hence, the circulation of gold and silver will
begin in the society,which is a pivotal element of Islamic
Economicsystem.Asyoumightknowthat insomecitiesof
upperPunjabdollarandpoundsareused simplybecausea
memberofeachfamilyisabroadandsendbackhissavingsin
formofdollarsthusmakingitamediumofexchangeforthe
wholecity.InMalaysiauseofGoldasamediumofexchange
hasalreadystarted,soitreallyhappensifpeopleinitiateit.
3. Thiswillbeamove inthedirectiontomakeGoldandSilversupersedepapercurrency,thiswillbethestrongestblowto
the
interest/debt
based
economic
system,
as
it
will
disable
them to dominate and exploit countries that they do through fractional reserve / interest / debt based
banking.Fractional reservewillnotbepossible inpresenceofgoldcurrency thus theiragendaofeconomic
dominationwillbedeterredeffectivelyastheywillnotbeabletocontrolandmanipulatethemoneysupplyas
theydowithpapercurrency.
Translatedfromthe"AlFathAl'AliAlMaliki"page.164165"ThisFatwaconsiderspapermoneytobefulus(lowe
categoryofcurrencywithlimitedused),becauseitonlyrepresentsmoneyanddoesnothavevalueasmerchandise
ItfollowsthatsinceZakatcannotbepaid infulus,whichhasnovalueasmerchandise, itcannotbepaid inpaper
money,whichvalueasweightofpaperisnull.Onthisbasis,itbecomescleartheurgentneedtorestoretheuseof
theDinarandtheDirhamaspaymentofZakat.IfthemillionsofMuslimswhonowmaketheirpaymentofZakatin
papermoney
would
do
it
in
newly
minted
Dinars
and
Dirham's,
they
will
put
in
circulation
millions
of
gold
and
silver
coins intothemainstreamofdailycommercialactivitiesofourcommunities.Thatsingleactwillbecamethemos
importantpolitical act of the century, opening thepath towards the establishment our own halalfree currency
breaking awayfrom the usuriousfinancial system. The return to thepayment ofZakat in gold and silver is an
essentialpartofthereestablishmentofIslam."
"Iamhoweverstartingtothinkthattheplan
for the GoldDinar and support from other
Islamicnationsisaplannedoffensiveagainst
theuseofthedollarasasettlementcurrency
foroil.
It
is
perceived,
and
correctly
so,
that
theIslamicworldiscontrolledviatheuseof
the US dollar as the main settlement
currency. When I say "controlled" I mean
whatever happens economically in theUSA
isexported therevia thedollar ...Whatwe
are hearing now is that theGoldDinarwill
beusedasa"measure"settledquarterly in
gold on an Islamic intra nation basis, but
that could change quickly. A review of the
trade balances of Malaysia and its intra
Islamic trade partners indicates that if the
GoldDinar
is
employed
as
now
suggested,
it
would tie up approximately 200 tonnes of
gold production equal to 10%of newmine
supply. If Malaysia went all the way and
wenttoconvertibilitywitha15%goldcover,
theywouldutilizemore than300 tonnesof
new production. Either way, this is the
WildestofWild Cards forGold." THEGOLD
DINAR:ANUCLEARWILDCARD JimSinclair,
TanrangeOctober28,2002