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Muamalat Vs Islamisation of Banking and Capitalism by Prof Umar Ibrahim Vadillo

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Published on Apr 1, 2011

The Gold Dinar is piece of gold of a weight known as the mithqal, that is, 4.25 gr. Gold is a commodity like potatoes and rice. When used in an exchange is not a promise of payment, but a payment.

Unlike paper money it does not require to be backed up by any legal authority, nor does it seek to be backed. Its value, unlike paper money, does not depend on legal compulsion but freedom.

Dinar and Dirham have been the currency (known as Shariah currency) of the Muslim Ummah from the beginning of Islam until the fall of the Khalifat.

After the fall of the Khalifate, the newly born postcolonial Muslim States were legally bound by their GIVEN constitutions, a final present of the colonial masters that granted them the continuation of their colonial rule by other means: monetary economics.

Essentially it forced the post-colonial states to accept the paper of the old colonies to back their own papers. This New World Order gave the USA the right to give pieces of paper (dollars) in exchange of oil, aluminium, gas, etc. If the need more they printed more.

Three critical instruments present in all constitutions: Central Bank, National Debt and Legal Tender; granted capitalism total dominance. These instruments perpetuate Riba and thus the hegemony of banking.

In order to achieve this, a brain washing was needed that would keep political debate off the subject.

That was easily achieved by the complete deification of an old ideology, economics (known as the sect in XVIII Europe) into the realm of pure science (scientism). The rest is the identification of political rule with economic rational.

Islam had to be curved of 2/3 of its fiqh, those parts relating to the matters of muamalat, and this job was given to the "Islamic modernists" or "Islamic Protestants", the same people that brought us the so-called Islamic banking.

Ignorance of muamalat is the dominant fact of the current Islamic debate, and thus it is impossible to understand the difference between Dinar and Ringgit, freedom and legal tender, suqs and malls, caravans and monopolistic distribution, guilds and capitalist production, riba and interest, shirkat and majority share contracts.

The consequence is a hilarious debate the nature of which was best expressed by Humpty Dumpty in "Alice in Wonderland": "the meaning of the words is whatever I wish them to be".

The Dinar is not the solution to everything, but it is a fundamental response to the monetary slavery of the Legal Tender.

It will help to remove the label: "I am totally stupid" from our foreheads; it will finish the theft of inflation once for all; it will eliminate foreign exchange; it will eliminate banking in all its forms (commercial, so-called Islamic, central, etc); it will restore freedom to choose and freedom to trade as the foundational right granted by Allah in Qur'an: "Trade with mutual consent".

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