Slavery by Consent Pt.1 (Opener)
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Goggle: OurName4Freedom
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@Bushwackk So the Islamic banks get a share of the company they are "loaning" to? That's not loaning anymore that's investing, which is much riskier and thus very few chances will be taken. Also since the whole complaint is about people sitting back and making money by using their money how is loaning at interest different then investing? Bank loan people aren't going to be punching a time card at a new factory.
The lack of opportunity is because they shut out the opportunity to loan
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@Hashishin13 Not true, instead of charging interest, an Islamic bank would lend the money and join in the business venture, whatever it may be. Whether the business venture makes gains, or ends up being a loss, it is shared equally with all parties involved. Why does a bank have to make money, if they're lending money that's not even theirs to begin with? As for your comment regarding technology etc. the simple answer is lack of opportunity, and war.
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@Bushwackk Without interest on loans there are very few loans and the economy stagnates. Nobody is holding technology back from Islamic countries, so why are they living a lot like they were 150+ years ago? Its because nobody wants to invest in those countries, no interest=no investment=no progress.
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@kingofthepaupers Time based currency was realized as idiotic all the say back in medieval days. Value is subjective and the value of labour or time is no different. Minimum wages aren't good either so there really is no logical point to pin a time based currency on. Gold, silver and the things people would CHOOSE to use as money are the best, simply because people know what they want. Don't continue top down coercive monetary policy, allow free banking.
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@fterrel21 THE ISLAMIC PARADISE: flex.com/~jai/satyamevajayate/
heaven.html -
@Bushwackk THE ISLAMIC PARADISE: flex.com/~jai/satyamevajayate/
heaven.html -
THE ISLAMIC PARADISE: flex.com/~jai/satyamevajayate/
heaven.html
Jct: Sure everybody's talking about slavery. The Abolitionist movement ended slavery, slavery with metal chains that is, but missed the invisible chains of debt. That's for my Abolitionist Party of Canada to finish the job by installing a CanLETS or UNILETS time-based currency for everyone. Anyone else offering an interest-free banking system as the route to debt liberation?
kingofthepaupers 1 year ago 8
@kingofthepaupers, Greetings John, yes Islam's banking system, and entire economy for that matter would be based on interest free transactions, however I understand how scary the word Islam has become, thanks to mainstream media. So, why aren't you being much louder, and getting much more exposure than you currently are?
Bushwackk 1 year ago 6