Riba (Interest) and its Dust

So where then are you headed?

[Quran: 81:26]

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 Vast Topic: Basic Outline only
The Financial System of the world today arose out
of a certain soil a certain dust.
Namely, the legalization of Interest and its
accompanying financial architecture.
Today Interest based Money permeates all our
relationships, all of our social constructs.
Interest has a logic of its own that forces us all as
society to adopt certain roles.

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 The Story of Interest
15th Century Christian reformism
The Story of the Goldsmith Bankers
Formation of first Central Bank in 1694
Formation of first limited liability Multinational
Corporation in 1602
Formation of IMF and World Bank
Formation of GATT and WTO
Result = Banks and Corporations control the world!

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 The Logic of Interest
Step 1 - Making Interest Permissible
Whom: In early 16th century, Primarily Christian
Effect: Social tolerance acquired for interest, false
Reformists in Western Europe, such as Luther
dichotomy between interest and usury
and Calvin

Step 2 - Birth of Modern Banking

Whom: In 16th century, Goldsmiths who kept Effect: Birth of Modern Banking through money
gold deposits and issued receipts in exchange to creation, lending at interest and then destroying
be redeemed later on payment

Step 3 - Creation of First Central Bank

Whom: In 1694, Banks in England lent King Effect: Bankers nationalized the debt, forming in
William 1.2 million at interest to fight his war of return the first independent central bank; gaining
succession the right to print paper currency to the same rate

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 The Quran on Interest
Those who consume interest cannot stand except as one who stands being touched
by the Devilish touch into insanity.

That is because they say, "Trade is [just] like interest." But God has permitted
trade and forbidden interest.

So whosoever receives an admonition from his Lord and desists may have what is past,
while his affair rests with God. But whosoever returns to [dealing in interest] - they are
the companions of the Blaze; abiding eternally therein. God destroys interest and
gives growth to charity

O you who have believed, fear God and give up what remains [due to you] of interest, if
you be believers.

And if you do not, then be informed of a war [against you] from God and His
Messenger. But if you repent, you may keep your principal oppress not and you
will not be oppressed.

[Quran, Al-Baqarah, 2:275-279]

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 The Qurans warning
The definitive Quranic Verse on Riba.
The Devilish Touch of - Scarcity and Greed.
The Distortion of Trade Trade is not like Interest.
Perpetual Growth versus sustainable growth.
War of all against all.
Structural Oppression of interest inflation, wealth
polarization and boom and bust.

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The Logic of Interest is
the Logic of an Addict.
(Charles Eisenstein, The Ascent of Humanity)

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 Interest and Perpetual Growth

Interest and the

Debt-based financial
system is the major
cause of Global
Warming.

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 The Dust of Riba
There will come a time when you will not
be able to find a single person in the
world who will not be consuming riba.
And if anyone claims that he is not
consuming riba then surely the dust of
riba will reach him.
Abu-Dawood Hadith 3325

Dust of Riba on Global Trade

Dust of Riba on Healthcare
Dust of Riba on Agriculture
Dust of Riba on Food
Dust of Riba on Education
Dust of Riba on Technology
Dust of Riba on Community

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 Look at larger picture
and long term
Islam is concerned with the
well-being of community,
sometimes at the immediate
expense of the individual
A single interest-based loan
may *seem* harmless, but
an entire economy based on
interest can have
devastating consequences
for everyone

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No need for conspiracy theories!
Swiss Federal
Institute of
Technology in
Zurich:

Study published in
Forbes and New
Scientist Magazine

Says majority of world

wealth is controlled by
150 Corporations of
which The top 50
(actually 49) are all
connected to Financial
Services.

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The Dust of Riba on Global Trade
Effects of First Major
Multinationals
How IMF, World Bank and WTO
work together
Debt = Corporate Opportunity
Ecological diversity replaced by
Monoculture
Interest leads to Speculative
trade

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The Dust of Riba on Healthcare
Lack of accessible healthcare in
poor countries due to
sovereign debt
Increasing costs of private
insurance
Deliberate stifling of natural
products and remedies by
pharmaceutical industry
Making money out of illness,
disease and death?

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The Dust of Riba on Agriculture
Displacement of local
economies through cash crops
for export
Long term land damage
Water crisis
The Agribusiness monopoly
Increased use of toxins,
hormones and Genetic
engineering crisis after crisis.

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The Dust of Riba on Food
Virtually everything we eat is
controlled by a handful of
multinationals
The Corn Industry
The Natural Flavor Industry
The Sugar Industry
The Meat Industry
You are what you eat

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The Dust of Riba on Education
Mass Schooling sets our
children up to be consumers
It commoditizes children by
requiring they be labeled,
measured and graded.
It destroys innate creativity
and the Fitrah
Introduces laziness and apathy
Grades = Money = Success?

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The Dust of Riba on Technology
Increasing use of technology
bereft of wisdom destructive
and reductionist
Technology to manipulate and
control often causes more
problems than it solves
The Technological and Scientific
Program of Modern Man
The need for Appropriate
Technology

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The Dust of Riba on Community
Destruction of local produce
and home markets by the
global supermarket
Monetization of societal roles
Increasingly separated we
are alone within a crowd
Loss of public space
No societal obligations no
connections

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How do we remove the Dust ?
Awareness
Real cost-benefit analysis
What about our children?
Localization
Re-introducing Commodity and
Community Currencies
The Democratization of Finance
Being Stewards on Earth

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 Recommended Reading
An analysis of the nature of the Debt based financial system :

The Grip of Death: A Study of Modern Money, Debt Slavery and

Destructive Economics.
(Michael Rowbotham, 1998)

An analysis of the role of the IMF and the World Bank since inception:

Goodbye America!: Globalisation, Debt and the Dollar Empire.

(Michael Rowbotham, 2000)

An explanation on how Banks create money:

Where does Money come from: A guide to the UK Monetary

and Banking System (Josh Ryan-Collins , Tony Greenham and
Richard Werner, 2011)

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 Recommended Reading
An analysis on Corporations:

The Corporation: The Pathological Pursuit of Profit and Power

(Joel Bakan, 2004)

An analysis on dominant themes connecting economics and society:

Sacred Economics: Money, Gift and Society in the Age of

Transition (Charles Eisenstein, 2011)

The Ascent of Humanity (Charles Eisenstein, 2007)

A good explanation of the problems caused by Interest from an Islamic

perspective:

The Problem with Interest (Tarek El-Diwany, 2010)

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 Recommended Reading
So how do we change things ? :

Agenda of a New Economy: From Phatnom Wealth to Real

Wealth (David.C.Korten, 2010)

Ending the Global Casino? (Ad Broere, 2010)

New Money for a New World (Bernard Lietar, 2011)

The Theft of Nations: Returning to Gold (Ahmed Kameel Mydin

Meera, 2004)

The Growth Illusion: How Economic Growth has enriched the

few, impoverished the many and endangered the planet.
(Richard Douthwaite, 1992)

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 Questions ?

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