Pl uylan

8elow are 3 arLlclesŦ
1Ŧ LxLracLed from Lhe classlc work by one of Lhe mosL senlor scholars allve Lodayţ ur ?usuf
Caradawl from hls work 'Palal (permlsslble) and Param (forbldden) ln lslamŦ
2Ŧ Cne of Lhe !ournallsLs from radlo volce of Lhe cape (who l slL wlLh ln one classţ acLually been ln
Lhe same lecLures for Lhe pasL 7 years)Ŧ
3Ŧ AnoLher commenL from Shaflq MorLonţ Lhe [ournallsLŦ
8efore readlng Lhe belowţ keep ln mlnd LhaL popular vlews Lend Lo become Lhe norm and accepLed
by Lhe common folk whlle Lhe classlcal auLhenLlc vlews Lend be marglnallzed and sldeŴllne because
so few people menLlon LhemŦ 1he resulL ls LhaL Lhe ma[orlLy who are educaLed wlLh maybe only 3
years of knowledge and are saLlsfled wlLh lLţ Lend Lo re[ecL Lhe wlsdom of Lhose who have sLudled
fro say 13 yearsŦ 1hose who have Lhe paLlence and endurance Lo sLudy for 10 years or more are a
few and Lhe vlews of a few are sldeŴllned for Lhe vlews of Lhe ma[orlLyţ even Lhough Lhere vlews
have no rooLs ln Lhe Curan and Leachlngs of Lhe ÞropheL Muhammad (peace be upon hlm)Ŧ

Cur Curan says clearyť
8eware of maklng forbldden LhaL whlch Cod has made permlsslbleţ Lhose before you were desLroyed
because of exLremlsmŦ
Þermlsslble for you Lo eaL are Lhe food of Lhose who recelved Lhe scrlpLuresţ Lhe ChrlsLlans and Lhe !ewsŦ
Çuranţ SťS
lorbldden for you Lo eaL ls Lhe flesh of Lhe swlne and Lhe drlnklng of alcoholŦ
lnLeresLlngly enoughţ lmam Mallkţ a scholar who llved abouL 1100 years agoţ gave Lhe rullng LhaL 'noL Lo
use Lhe skln of Lhe plg for purposes llke waLer sklns eLc ls a wasLe of Cod's grace'Ŧ
Alcohol ls declared forbldden because of Lhe effecL lL has on Lhe mlndŦ 1he mlnd ls Laken away from lLs
naLural sLaLe lnLo an anlmal sLaLeŦ 1he human belng Lhen oppresses hls nelghbour as hls nelghbour
cannoL beneflL from hlm whlle ln Lhls sLaLe and we are only here Lo servce Cods creaLlonŦ We are Lhen
oppresslng ourselves whlle ln Lhls sLaLeŦ Scholars exLend Lhe effecLlve course of alcohol Lo all oLher drugs
whlch lnLoxlcaLesŦ
l end off my shorL lnLro wlLh a classlcal quoLe from ÞlckLhallţ 'Lolerance ls Lhe aLLlLude of LruLh'Ŧ

Ŧ atwa ] ru||ng by the Grand Muft|]Scho|ar and Is|am|c LdeaŦ Dr ¥usuf Çaradaw| from h|s
c|ass|c work 'na|a| and naram |n Is|am'
Is|am Þerm|ts What Is Who|esome
1hls was Lhe sLaLe of Lhe world ln relaLlon Lo Lhe eaLlng of food aL Lhe advenL of lslamŦ AL one exLreme
every klnd of meaL was permlLLed and aL Lhe oLher all meaL was prohlblLedŦ 1hen Allah addressed all
human belngs saylngţ mank|nd! Lat of what |s perm|ss|b|e and good on earthţ and do not fo||ow the
footsteps of SatanŤ tru|y he |s an open adversary to youŦ (2ť168)
1hus Pe speaks Lo all Lhe people on Lhls globeţ calllng on Lhem Lo eaL of Lhe good Lhlngs whlch Pe has
provlded for Lhem on Lhls vasLţ ouLspread Lableţ Lhe LarLhţ and noL Lo follow Lhe ways of SaLanţ who has
made lL allurlng Lo some people Lo prohlblL for Lhemselves varlous wholesome Lhlngs whlch Allah has
made bololţ Lhus leadlng Lhem Loward Lhe plLfalls of selfŴdesLrucLlonŦ 1hen Allah addressed Lhe 8ellevers
ln parLlcular saylngţ you who be||eve! Lat of the good th|ngs that We have prov|ded for youţ and be
thankfu| to A||ah |f |t |s ne a|one whom you worsh|pŦ Indeedţ what ne has forb|dden to you |s the f|esh
of dead an|ma|s and b|ood and the f|esh of sw|neţ and that wh|ch has been sacr|f|ced to anyone other
than A||ahŦ 8ut |f one |s compe||ed by necess|tyţ ne|ther crav|ng (|t) nor transgress|ngţ there |s no s|n
on h|mŤ |ndeedţ A||ah |s org|v|ngţ Merc|fu|Ŧ (2ť172Ŵ173)
ln Lhls parLlcular message Lo Lhe 8elleversţ Allah Subhanahu wa 1aƌala Lells Lhem Lo eaL of Lhe good
Lhlngs of Pls provldlng and Lo glve Lhanks Lo Plm for Pls favorsŦ Pe Lhen explalns LhaL no food ls botom
Lo Lhem excepL Lhe four klnds menLloned ln Lhe oyobŦ 1he same four klndsţ wlLh some furLher deLallsţ
are menLloned aL oLher places ln Lhe Curƌanť Sayť I do not f|nd |n what |s revea|ed to me anyth|ng
proh|b|ted to an eater |n h|s food un|ess |t be (the f|esh of) that wh|ch |s deadţ or f|ow|ng b|oodţ or the
f|esh of sw|neţ for that |s |ndeed fou|ţ or the abom|nat|on wh|ch has been ded|cated to anyone other
than A||ahŦ 8ut |f one |s compe||ed by necess|tyţ ne|ther crav|ng (|t) nor transgress|ngţ thenţ |ndeedţ
thy Lord |s org|v|ngţ Merc|fu|Ŧ (6ť143)
And ln even greaLer deLallť orb|dden to you are the f|esh of dead an|ma|s and b|ood and the f|esh of
sw|neţ and that wh|ch has been ded|cated to any other than A||ahţ and that wh|ch has been k|||ed by
strang||ng or by beat|ng or by fa|||ng or by be|ng goredţ and that wh|ch has been (part|y) eaten by a
w||d beast except that wh|ch you make |awfu| by s|aughter|ng (before |ts death)ţ and that wh|ch has
been sacr|f|ced to |do|sŦŦŦŦ (3ť4 (3ť3))
#S|nce A||ah d|d not proh|b|t |tţ the food of the Iews and the Chr|st|ans |s perm|tted to you on the
bas|s of the or|g|na| perm|ss|b|||ty of th|ngsţ and ||kew|se you can share your food w|th themŦ
Accord|ng|yţ you can eat the f|esh of the an|ma|s they have s|aughtered or huntedţ and they can eat
what you have s|aughtered or huntedŦ#
(1he Lawfu| and 1he Þroh|b|ted |n Is|am by ¥usuf A|ŴÇaradaw|ţ page S9)Ŧ

#1he app||cat|on of the phraseţ żpart of the verse of the Çuranţ SťSŽ 'the food of those who were g|ven
the Scr|ptureţ' |s genera| and |nc|udes the|r meatsţ produceţ and other foodsŦ A|| of these are ha|a| for
us except|ng what |s haram |n |tse|fţ eŦgŦţ the f|esh of a dead an|ma|ţ porkţ and f|ow|ng b|oodţ as these
are haram regard|ess of whether they are obta|ned from a Chr|st|anţ a Iew or a Mus||mŦ "
(1he Lawfu| and 1he Þroh|b|ted |n Is|am by ¥usuf A|ŴÇaradaw|ţ page 60)

#If one does not hear from a Chr|st|an or a Iew that a name other than A||ah's such as that of Iesus or
a sa|ntţ was ment|oned at the t|me of s|aughterţ the meat he offers |s ha|a|Ŧ Ifţ howeverţ he says that a
name other than A||ah's has been ment|onedţ |t |s haramţ accord|ng to the op|n|on of some [ur|sts
who argue that |t fa||s under the head|ng of what has been ded|cated to other than A||ahŦ Some others
ho|d the op|n|on that the food of the Þeop|e of the 8ook has been perm|tted to us by A||ahţ Who |s
aware of what they say when s|aughter|ng an an|ma|Ŧ#
(1he Lawfu| and 1he Þroh|b|ted |n Is|am by ¥usuf A|ŴÇaradaw|ţ page 60)

#ŦŦŦwe know that |mported meatsţ such as ch|cken and canned beefţ or|g|nat|ng w|th the Þeop|e of the
8ook are ha|a| for usţ even though the an|ma| may have been k|||ed by means of e|ectr|c shock or the
||keŦ As |ong as they cons|der |t |awfu| |n the|r re||g|onţ |t |s ha|a| for usŦ 1h|s |s the app||cat|on of the
above verse from Surah a|ŴMa|dahŦ# (She|kh Çaradaw| |s referr|ng to Çuran SťS)
(1he Lawfu| and 1he Þroh|b|ted |n Is|am by ¥usuf A|ŴÇaradaw|ţ page 62)

2Ŧ 1he na|a| Industryť a Ca|| for Common Sense
8y Shaf|q Morton
1PL oLher day l wroLe an arLlcle abouL Lhe halallsaLlon of our consumer space by Palal bodlesŦ 1hey
were more concernedţ l suggesLedţ ln maklng a fasL buck Lhan acLlng ln publlc lnLeresLŦ
1he pleceţ whlch appeared ln a malnsLream publlcaLlonţ was a response Lo complalnLs by nonŴMusllms
LhaL Lhey had Lo pay for Lhe Palal cerLlflcaLlon processŦ
lor Lhose who mlghL noL be awareť Lhe reLallers who fork ouL hundreds of Lhousands of rands annually
for Lhe Palal cerLlflcaLlon of LooLhplcksţ waLerţ flshţ coffeeţ mllk or nuLs merely pass on Lhelr expenses Lo
Lhe consumerŦ
1o say LhaL Lhere's a growlng of cynlclsm ln SouLh Afrlca of Lhe mulLlŴmllllon rand Palal cerLlflcaLlon
lndusLry ls an undersLaLemenLŦ

WlLh Palal LradlLlonally cenLred on Lhe slaughLer of meaLţ and pork derlvaLlves ln foodsLuffsţ lL Lruly
boggles Lhe mlnd LhaL our scholars could suspecL LhaL a humble cashew Ŷ halal for Lhousands of years Ŷ
would now suddenly rub shoulders wlLh plggy °Ŵtoot Lo markeLŦ
1o Lhls effecLţ an Amerlcan scholar has even argued LhaL as shocklng as lL may sound Lo usţ Lhe Palal
lndusLry ls maklng a mlnL ouL of porkŦ
ln my arLlcle l argued LhaL some of our scholars had perverLed Lhe very foundaLlon of botl´obţ or
Sacred LawŦ l sald LhaL Lhey had rendered upslde down Lhe maxlm LhaL Lhe ´osl (source) of Lhlngs was
Lhelr lbobob (permlsslblllLy)Ŧ
ln Lhls surreal worldţ Allah's Palal CreaLlon has Lo be deemed lnherenLly lmpermlsslble so LhaL some
Palal mufLl can arrlve godllke on Lhe scene wlLh hls rubber sLamp Lo deem Lhem permlsslbleŦ
We have Lo remlnd ourselves Loo LhaL –bolowţ or exLremlsmţ was someLhlng deLesLed by Lhe ÞropheL
Muhammad (SAW)Ŧ Pe would happlly dlne aL Lhe Lables of !ews and ChrlsLlans wlLhouL lnspecLlng Lhelr
klLchensţ or peerlng lnLo Lhelr poLsŦ
l also argued ln my arLlcle LhaL had Lhese bodles creaLed publlc lnsLlLuLlonsţ poverLy rellef programmes
or educaLlonal opporLunlLles ouL of Lhelr proflLs Ŷ whlch Lhey have noL Lo any meanlngful degree Ŷ we
could forglve Lhe Palal lndusLry for Laklng our moneyŦ
l made Lhe polnLţ Looţ LhaL publlc lnLeresL had Lo be served hereŤ Lhe beneflLs accrulng from Lhe Palal
lndusLry could noL be excluslvely Musllmţ as nonŴMusllms pald for Lhe cerLlflcaLlon as wellŦ
8esponse on lacebookţ and oLher soclal medla plaLformsţ lndlcaLed LhaL l had Louched a nerveŦ Some
people felL l had aLLacked parLlcular organlsaLlonsţ and acLually named LhemŦ 1hls l had noL doneŦ
So before l proceed furLherţ leL lL be sald LhaL my alm was Lo lnLerrogaLe Lhe prlnclple of Lhe maLLerŦ l'm
noL lnLeresLed ln namesţ organlsaLlons Ŷ or Lhe madŴhaLLer consplracles surroundlng LhemŦ
And l serlously don'L advlse Lhe lndulgence of shoeŴflLLlngŦ We are deallng wlLh broad lssues here LhaL
are beLLer dlgnlfled by belng dlscussed ln a neuLral spaceŦ Labels only serve Lo speclfyţ personallse and
emoLlonallse Lhe LhrusL of Lhe argumenLŦ
l have Lo sayţ as wellţ LhaL my crlLlque ln no way suggesLs LhaL Palal cerLlflcaLlon be done away wlLhŦ lar
from lLŦ We need Lhe Palal processţ buL whaL l'm calllng for ls some commonsenseŦ
1he word ºPalal process" ls used here dellberaLelyŦ lor halallsaLlon ln Lhe markeL place ls lndeed a
processţ from Lhe momenL Lhe meaL ls slaughLered Ŷ or Lhe producL manufacLured Ŷ Lo Lhe Llme lL
reaches Lhe consumer's shopplng baskeLŦ
PlsLorlcallyţ Lhe Musllm markeLŴplace was governed by Lhe lnsLlLuLlon of blsbob Ŷ Lhe proLecLlon of
personal honour and publlc safeLyŦ ln Lhls scenarlo a mobtoslbţ a quallfled offlclalţ would pollce
corrupLlon and monlLor Lhe professlonal gulldsŦ

Pe would also check on Lhe eLhlcs of buslness pracLlceţ lnspecL Lhe quallLy of goods and ensure LhaL
Lhere was no proflLeerlng aL Lhe expense of Lhe poorŦ
ºPalal" ln Lhls appllcaLlon was far more embraclng Lhan [usL Lhe makeŴup of Lhe goods on dlsplayŦ lL
dealL wlLh every faceL of commerclal llfeŦ
AmongsL Lhe LradlLlonal scholars who've sLudled Lhe role of Lhe mobtoslb are lmam alŴChazallţ lbn
1almlyyah and lmam 1aql AdŴuln asŴSubklŦ 1he mobtoslb played an lnsLlLuLlonal role ln lslamlc socleLy
from Lhe 8
Lo Lhe 19
Accordlng Lo lmam alŴChazallţ Lhe mobtoslb had Lo be an accredlLed scholar Ŷ ln facLţ a OoJlŦ Pls duLlesţ
whlch focused on publlc morallLy and economlc acLlvlLyţ even covered envlronmenLal lssuesŦ ln Lhe
modern senseţ Lhe mobtoslb would be someLhlng ln beLween an aLLorney general and an ombudsmanŦ
Þerhaps our Palal sulLansţ Lhe lords of Lhe supermarkeL shelvesţ should be obsesslng less on Lhe
obscure deLalls of how a parLlcular producL ls manufacLuredŦ 1hey should be lndulglng more ln Lhe splrlL
of blsbobţ and quesLlonlng Lhe morallLy of how Lhlngs are markeLed and sold Ŷ and how excesslvely
rlslng prlcesţ for exampleţ affecL Lhe consumerŦ
lor how halal can an overŴprlced producL be lf lL conLalns carclnogenlc subsLances and arLlflclal
hormones? Pow halal ls cloLhlng LhaL has lnvolved Lhe use of chlldŴ labour? Pow halal can someLhlng be
lf lLs sale ls Lhe consequence of excess lnLeresL?
lL could be argued Ŷ somewhaL slmpllsLlcally l know Ŷ LhaL where Musllms llve as mlnorlLles (as we do ln
SouLh Afrlcaţ Lhe uS or Lurope) our [udlclary bodles' prlmary role should be Lo play Lhe role of a modernŴ
day mobtoslbŦ 1hese responslblllLles are enormousŦ
nlsbob requlres large doses of wlsdomţ as much as lL does knowledge of Lhe appllcaLlon of Sacred Law
and soclal cusLomŦ lL ls noL a [ob for Lhe falnLŴhearLedŦ
1he ºmorals pollce" of soŴcalled lslamlc counLrles areţ for exampleţ an lnsulL Lo blsbobŦ ?obbos
paLrolllng Lhe sLreeLs and markeLs wlLh nlghLsLlcks and guns are deflnlLely noL mobtoslbsŦ
Lach socleLy en[oys lLs own unlque cusLomsţ and [urldlclal oplnlons appllcable Lo Calro may noL be as
sulLable for Cape 1ownŦ 8uL where Lhere's unlversallLy of appllcaLlon ls Lhe markeLŴplaceŦ 1haL's where
Lhe prlnclplesţ as reflecLed ln Lhe Cur'anţ become Lhe mosL comprehenslveŦ
And for as long as someLhlng wlLh a halal sLamp on lL ls sold Lo me by a llarţ a Lhlef or a cheaL Ŷ or Lhe
goods have been produced by damaglng Lhe envlronmenL Ŷ l wlll noL buy LhaL producLŦ SLamp or noLţ l
wlll noL conslder lL halalŦ

3Ŧna|a| Cert|f|cat|onţ the Industry of Doubt
8y 5hofiq Morton

1he ºPalallsaLlon" of our consumer space conLlnues unabaLedŦ ln prevlous arLlcles on Lhls Loplc l've
dlscussed Palal LooLhplcks and Palal waLerţ boLh legal anomalles guaranLeed Lo make classlcal lslamlc
scholars roll ln Lhelr gravesŦ
My recenL dlscovery ln a local supermarkeL LhaL mllk and yoghurL have now been cerLlfled Palalţ or
permlsslbleţ saw me whlsLllng wlLh amazemenLŦ 1he ÞropheL Muhammadţ Lhe lslamlc exemplarţ used Lo
drlnk goaL's mllk fresh from Lhe udderŦ
Cur conLemporary Palal cerLlflcaLlon maflaţ who've LoLally reversed Lhe naLural order of dlvlne
permlsslblllLyţ have made leglslaLlve nlLŴplcklng a money grabblng arLţ rebufflng even Lhe Leachlng of Lhe
1hls ls because Lhere are no known records of ÞropheL Muhammad ever asklng Lhe goaLţ Lhe camelţ Lhe
cow or Lhe farmer wheLher Lhelr mllk was Palal or noLŦ
Palal cerLlflcaLlon ln SouLh Afrlca (and elsewhere ln Lhe Musllm world) has become a bllllon dollar
lndusLryŦ A recenL lnLernaLlonal Palal conference ln kuala Lumpurţ Malayslaţ aLLended by hundreds of
represenLaLlvesţ conflrms LhlsŦ
1he sad LruLh ls LhaL Lhe Palal lndusLry preys mercllessly upon Lhe lgnorance of lLs sub[ecLsţ and lLs
fearsŦ l have seen Lhls ln Lhe lar LasLţ Lhe Mlddle LasLţ Lhe lndoŴÞakţ Lhe uSţ CreaL 8rlLaln and now SouLh
Poweverţ lslam's legal schools of LhoughL reveal LhaL Lhe undersLandlng of Palal maLLers ls based upon
common senseŦ 1he corpus of Palal leglslaLlon was never deslgned for obscuranLlsL scholarshlpţ buL
pracLlcal appllcaLlonŦ
1he Lragedy here ls LhaL Lhe Musllm Ŷ and nonŴMusllm Ŷ cusLomer has Lo pay for Lhls someLlmes
unnecessary servlceŦ 1he reLaller slmply passes on whaLever cosLs he accrues ln Lhe accredlLaLlon
AL Lhe rooL of consumer Palal leglslaLlon ls Lhe procedure of slaughLerlng meaL ln a prescrlbed way and
ensurlng LhaL no lmpurlLles Ŷ such as pork Ŷ come lnLo conLacL wlLh any foodsLuffsŦ
When lL comes Lo meaLţ for exampleţ Lhe condlLlons are easy Lo followŦ 1he slaughLerer has Lo be a
bellever who can prayţ Lhe anlmal has Lo be kllled merclfullyţ Lhe LhroaL sllL wlLh a sharp knlfe and Lhe
blood Ŷ conLalnlng lmpurlLles Ŷ bled ouL of Lhe anlmalŦ
Pere agalnţ ÞropheL Muhammad's example ls hugely lllusLraLlveŦ Pe used Lo dlne wlLh ChrlsLlan and
!ewlsh hosLsţ and lL's wldely reporLed LhaL hls concern was always Lhe meaLŦ ?eL lf lL was slaughLered by
a bellever Ŷ wheLher ChrlsLlan or !ewlshŶ he would noL ask any furLher quesLlons and eaLŦ

And unllke some of Loday's mufLlsţ he would noL rudely go lnLo hls hosL's klLchen Lo peer lnLo poLs and
Lo lnLerrogaLe Lhe makeŴup every slngle lLem ln Lhe panLryŦ LncounLerlng producLs such as Palal cerLlfled
spagheLLlţ coffeeţ peanuL buLLerţ drled frulL Ŷ and even nuLs Ŷ ls an affronL Lo Lhe ÞropheLlc adage of
ºease over dlfflculLy"Ŧ
1he ÞropheL operaLed on Lhe prlnclple LhaL should be guldlng our Palal bodles Loday Ŷ Lhe lnherenL
permlsslblllLy of LhlngsŦ Cne of Lhe maxlms of llqh (Lhe appllcaLlon of Sharl'ah or Sacred Law) ls LhaL
Palal precedes ParamŤ LhaL permlsslblllLy comes before lmpermlsslblllLyŦ
1hls ls someLhlng LhaL Lhe Palal moguls have convenlenLly forgoLLenŦ A wellŴknown verse ln Lhe Cur'an
(36ť38) saysť º8eţ and lL ls"Ŧ 1hls command ls an afflrmaLlon of Lhe permlsslblllLy of exlsLenceţ noL lLs
lL does noL sayţ for exampleţ º8eţ and lL ls lmpermlsslble"Ŧ
?eLţ ln a franLlc rush for moneyţ our Palal cerLlfylng despoLs Lurn doubL lnLo a lucraLlve lndusLryŦ
LveryLhlng ls deemed lmpermlsslble by Lhem unLll proved oLherwlseŦ 1helr lnverLlng of Lhe dlvlne order
of Lhlngs ls a serlous breach of orLhodox LheologyŦ
lL's Lhe grave equlvalenL of Lurnlng Lo Cod and saylngť ºMy Lordţ l don'L LrusL youŦ Allow me Lo check
your CreaLlon flrsLŦ"
?eL Lhese same menţ who read Lhe same Cur'an as everyone elseţ seem Lo be unaware LhaL lLs pages
are resplendenL wlLh soarlng verses exLolllng Lhe vlrLuesţ graces and generoslLy of CreaLlonŦ
1hey seem Lo forgeL LhaL whllsL Lhe maLerlal world may be lndeed regarded as LranslenLţ Musllms are
en[olned Lo savour lL wlLh moderaLlonŦ And Lo Lhls effecLţ classlcal scholars such as lmam alŴChazall wlll
Lell us LhaL doubLlng Lhe frulLs of CreaLlon has never beenţ and should noL beţ parL of Lhe Musllm psycheŦ
And yeLţ Lhe doubLs are allowed Lo fesLerţ and cashŴsLrapped SouLh Afrlcans of all llk have Lo pay for
Palal cerLlflcaLes on a hosL of producLs LhaL don'L need cerLlflcaLlonŦ
1hls would have perhaps been a llLLle more palaLable had Lhese Palal cerLlfylng bodles lnvesLed Lhelr
mllllons back lnLo Lhe communlLles Lhey obsequlously clalm Lo serveŦ 8uL Lhls has noL happenedŦ
1he lslamlc credo LhaL publlc lnLeresL musL serve publlc lnLeresLţ regardless of creedţ has been
1he educaLlonalţ arLlsLlc and culLural lnsLlLuLlons LhaL Lhese monles should have funded slmply don'L
exlsLŦ 1here are no ma[or unlverslLy scholarshlps anywhere ln SouLh Afrlca offered ln Lhe names of any
of Lhese bodlesŦ

Conslderlng LhaL lL's our money ulLlmaLely fundlng Lhe Palal cerLlflcaLlon processţ as SouLh Afrlcans we
should be voclferously demandlng some klnd of soclal dellvery ln reLurn for our lnvesLmenLŦ And unLll
such Llme as one sees Lhlsţ we can only conclude LhaL selfŴlnLeresL and greed are aL play hereŦ

f°   °    °€ f¾ € ¾€ ¾° f°   °°–€fn  °  ¾°– °– ¯f¯.f f¾nf f  f¾f– –f  °–f#° ¾  ¾°€ ½–€½½¾ ¾ f ¾°¾ n¾ff¾ € #¾–fn #  n¾ nf €  ° nf¾ €  €€ nf¾° ¯° @ ¯° ¾f °ff€¯¾ °ff¾f °f°f°¯f¾f @ ¯f° °– °½½ ¾¾ ¾¾° – f¾¾° –  nf°° ° €€¯¯ °¾¾f f°  f °  ¾ n  ¾n f° J f  ° ½½ ¾¾°–¾  ¾ °¾¾f nf¾  °   €€ n n¾ €fnf  –¾ n°nf ¾   ° €€¯¾°fnf¾¾nf €¯9nf # f°n ¾ f €#   .¾f°¾f°   ¾  .

n€ %  % °¾½fnf¯ ¾¾f–     ¾ f f°ff@f ff ¾ ¯ f€ –  °–¾€¾½ °–f° – f°¾¯€¾€f¾   ° ½f°¾f°€ ¾ff¯  ¯ n ½ €° ¾¯ °° ° ff @ ¾f¯ €° ¾ ¾¯ €  f¾  f ¯ °° f ½fn ¾° .  ff$°–  f° .€$nff° ¾f¯n f ¾€. n€ % % ° °  °– f  f   °f  € ¾€ f f°¯f¾f°   f°  € ¾€ ¾° f° fnf¾ ° nf f° f°f f° fnf¾ °   ¾f°–°–  f°– €f°–  °–– f° fnf¾ °%½f% f ° f   f¾ n ½fn¯f f€ ¾f– °–% € ¾ f% f° fnf¾ °¾fn€n  ¾ % % %% #°n f  °½   € €  ¾f°  . f° f  °€° °f¾  f ¯ f°°– ½  f° f °¾€ ° ¾¾ % € ¾€%fn¾ f €°–    € ¾€¾° €f¾° €  f ¯°f°nf¾ ° nf f°°   f°f  €° ¾n¯½   ° n ¾¾ °  nf°–%%°f°¾– ¾¾°–  ° °   ¾–°– .ff f€¯¾ nf¾¾n#fff° ff¯°¾f¯# ¾f¯9 ¯¾Jf¾J ¾¯  @¾f¾ ¾f €  ° f°  f°–€€ f f  °€¾f¯ °   ¯   ° €¯ ff¾½ ¯ f° f  f¯ ff¾½  @ °ff  ¾¾ f ¯f° °–¾¾f°– ¯f°° "f€f¾½ ¯¾¾  f° – ° f f°  °€  €¾ ½¾€ff°  ¾f°½ °f  ¾f % % @¾ ¾½ f¾f ½ ½ °¾– nf°–° ¯ f€ – °–¾n f¾ ½ € ¯°¾f¾ ¾½ f f   f f° °€ f¾€ff° f¾ ¯f f°–¾¯ ½ ½ ½ € ¯¾  ¾f¾ ¾¯ °–¾nff¾ ¯f ff ¾ f °– ¯f  ½€f¾€¾ € ¾n° @ °ff  ¾¾     ¾ °½fnf¾f°–    "f€ – °–¾fJ f ½ € f°   f°€f€¾ f° ¯¾½ ° f f¾€  °¾ € ¾ € f f°¯f¾f°   f°  € ¾€¾° f° fnf¾ °¾fn€n f°°   f°f  €° ¾n¯½   ° n ¾¾ °  nf°–%%°f°¾– ¾¾°–   ¾°¾° °¯ ° f¾–°– .

ff f ½f– %   #@ f½½nf°€ ½f¾  ½f€  ¾ € .f°   # € €¾   – °  n½ #¾– ° ff° °n ¾ ¯ f¾ ½ n f°  € ¾ € ¾ f ff€ ¾ n ½°–f¾ff¯°¾ €  –  € ¾€f f f°¯f ½ f° €°–  f¾ ¾  f ff¯ –f  ¾¾€   f  f° €¯f.¾f°¾¾½ ¯ °  f¾¾€ –°f½ ¯¾¾ €°–¾ f°  ¾ nf°¾f €  ¯  nn °– nf° f € ¾€ f°¯f¾ f ¾f–  ° f°  nf° f ff ¾f–  ° # %@ f€f° @ 9  °¾f¯ ¾€ .

¾f° f f.¾¯ # %@ f€f° @ 9  °¾f¯ ¾€ .ff f ½f– %  #€°   ¾° f€¯f.

¾f°f ff°f¯  f°f#¾¾nf¾f€ ¾¾ .

f f #% .ff f ½f– %   @ ff° ¾ f.ff f¾ € °–.f° % %@ f€f° @ 9  °¾f¯ ¾€ .ff f ½f– %  #  °f¯½ ¯ f¾ ¾nf¾nn °f° nf°°  € –°f°– 9 ½ €  f ff€¾   °– f°¯f¯ff  °  ¯ f°¾€  nn¾n   ¾°–f¾ n°¾ f€°  –° ¾ff€¾ @¾¾ f½½nf°€  f   ¾ €¯ff .f¾f° f¾¯ °° f ¯ €¾f–   ¯ f €€ ¾¾ff €     ¾f¾ff °f¯  f°f#¾f¾ °¯ °° ¾ff¯ fnn °– ½°°€¾¯ ©¾¾ f– f€f¾°   f °–€ff¾ ° nf  f°f ¯  ¾   ½°°f € € 9 ½ €  f¾ °½ ¯ ¾ f J¾ ff €f ¾f °¾f– °–f°f°¯f # %@ f€f° @ 9  °¾f¯ ¾€ .


¾¯¾ f f ½f€ ffn €nf°½n ¾¾  ¾ ¯–° ff   f ¾€°  ¾€¾f° ¾€f° ¾f°°f € ffn €nf°€½n¾ f  €¾ n€€ ¯°¾¯  ½f¾¾°  ½ °¾ ¾  n°¾¯   @¾ff  #¾f–°–€n°n¾¯°€nf€ ¯ ¯°f° ffn €nf° ° ¾¾f°° ¾f ¯ °   Jfff °fn ° ° ¾f– €¯ f f° ½ f ¾°€ ¾€€¾  –– ¾ ¯° f¾nf¾n ¾¾½ nff¯  nf¾  ff€¾f° ¾€ f¾   °¾ ° ¾ ¾½–– °  ¯f   @¾ €€ n f°¯ nf°¾nff¾  °f– ff¾¾n°–f¾¯f¾° ¾  ff ° ¾¾¯f°–f¯°€½  °¯fn f– f¾¯ €¾nf¾f ½     €° f°€f#f  fn f ¾f f f  °  ½¾  ° ¯f¯f #f¾%¾n %€°–¾f¾   ff%½ ¯¾¾ %  °¾¾ f f#¾ff.¯¯° °¾  f€.° @  f f°fn f  ff¾f°€n°¾¯ ¾½fn  ff   ¾ @    ¯ n°n ° ¾–– ¾ °¯f°–f€f¾ nf°fn°–°½ n°  ¾  @ ½ n nf½½ f °f¯f°¾ f¯½ nf° f¾f ¾½°¾ n¯½f°¾ °° .

 f°f¾  ¯ °  °¯½ ¯¾¾  ¾f¾¯  ff¯€nf°f –  ° ¾n ° ¾ ¾f¯½ ¯ ¯½ ¯¾¾   .

J f  ¯° ¾  ¾f–   ¯¾¯ f¾¾¯ °–  ¾   9½  .f¯¯f %J%   f½½ ° f f  ¾€ ¾f° .

f  ¾  ¾  n€n¾ °½ n¯ff°  n°¯nfn   °n   °°¯ °f¾¾ ¾ °  ¯ °¾ °¾  ¯f¾   ¾¯ °–°  °f°f° – ° ff° f°¯  ¾¯f°  .¾¯¯f  ½fn f¾– °   °¾°€¾ f  ½ n°€ ½ ¾°f°f° ½ n¾f€  °¾¾n °ff¯f¾ ff€ €€nf  ½n  n½°f° ¯° ½€ ¾¾°f– ¾     f¾n n°  n¾€ ¾° ¾¾½fnn °¾½ n f€– ¾f°  °¾ f   f¾°½€ °–f  ½ °¾ € ½  #ff#°¾f½½nf°f¾€f¯  ¯ fn°–f°©¾ ¯f ½€ – ¾° ¾½f  f  €fn €n¯¯ nf€  ¯°–¾ f °f¾nf¾# ¾    € ¯f¾ f ¯f¯f ff  ° @f¯ff° ¯f¯@f °f¾   @ ¯f¾ ½f f°°¾°f °¾f¯n¾n  €¯  n °  nn °–¯f¯f ff  ¯f¾ f  f°fnn  ¾nf °€fn f.¾¯¾½f € n €nf°f¾    ¾½°¾ °fn  f°  ¾nf¯ f½f€¯¾ ° nf ff n f°  ¯  ½ ½ € f ffn ½fnf–f°¾f°¾ f° fnf°f¯  ¯ @¾f ° °   € ½n €    ¾f f¯f¯f¾° –f  ½°n½ € ¯f  #¯ °°  ¾ °°f¯ ¾ –f°¾f°¾  ¯f f n°¾½fn ¾¾° °– ¯  ° ¾ ¾ °#f ¾  ° – °n €¾ €°– J f  f°– f ¾¾ ¾  f f    –°€   °– ¾n¾¾ °f° f¾½fn f ¾°¾  ¾½ n€ ½ ¾°f¾ f°  ¯°f¾  ¾€ f–¯ °  f ¾f f¾  f¯n °°f¾–– ¾¾fffn €nf°  ° ff f €¯ J °  ff½n ¾¾  f#¯nf°–€¾¾¯ n¯¯°¾ °¾  @  #ff½n ¾¾#¾¾     f  ff¾f°° ¯f ½fn ¾° f ½n ¾¾ €¯ ¯¯ ° ¯ f¾¾f–    ½ n¯f°€fn   ¯   fn ¾ n°¾¯ #¾¾½½°– f¾   ¾nf  .¾¯ f¾°° .¾f°¾°¾½ n°–  n °¾ ½ °–° ½¾  f¾f– °¯fn ff  ¾    ¾n f ½ n°¾°¾ ½   €½–f¯¯ ¾  nf°f½½° ¾€ ½€¾ n f °f°¯ f°°–€ –    n €–  ff° ¾€f°–¯°   ¯f  ½°  f½ n°  ¾f  ¾      ° €¾fnn°–€¯ ff ° ¾n °  n¾ .

9 f½¾ff¾f°¾   ¾€ ¾½ ¯f ¾  ¾ ¾   ¾ ¾¾°– ¾¾°   ¾n  f¾€f½fnf½ n¾¯f°€fn @ ¾  ° –°–¯ ° ¾½ €¾ f f°  ¾°°– ¯f€°–¾f ¯f  f° ¾  f°  n ¾¾  ¾°–½n ¾ € f¯½ f€€ n n°¾¯   ffnf°f°  ½n ½ n €n°f°¾nfn°– °n¾ ¾f°n ¾f° f€nf ¯° ¾"ff¾n°–ff¾°  ¾ €n f "ffnf°¾¯ °–  €¾¾f ¾ n°¾  °n € n ¾¾°  ¾" n  f–  ¾¯ f¾¯½¾nf° f  .¾¯¾ f¾¯° ¾%f¾  ° €nf  D½ %© nf   ¾#½¯f ¾  ½f  €f¯ ° f¯f¾ @ ¾  ¾½°¾  ¾f  °¯¾  ¾ f  ¾f–  ¾ ¾€¾ ¯ f¾¯nf¾  ¾° – € f½½nf°€fn f f° ¾nfn¾¯ ¾°f© € €f°  f  @ #¯f¾½n #€¾ nf ¾f¯nn° ¾f € f¯½ f°°¾¾ f  ¾ ½f°– ¾ ¾f° ¯f ¾°–¾n¾f° –°¾f  €° °¯f¾ ¾  fn¾n  °©¾¾°° n¾¯¾ f° © nf½°°¾f½½nf  .

f¯f° f¾ ¾f  €.

f½ @°      #¾° ¾f€f½½nf°¾ ¯f  ½fn @f#¾    ½°n½ ¾ f¾ € n ° .#f°  n¯  ¯¾n¯½  °¾  ° €f¾°–f¾¾¯ °–fff¾f¯½°¾¾ ¯  ff f €fn f   – ¾f  °½ n   f¯f–°–  °°¯ ° ° f½ n f¯½°  °n°¾ ff      ff.

 n ° ¾n °fnf¾½ ¯f f¯f° –f ° °n € ff  ½ ¯¾¾  ¾f¯ ¾°–f¯f ¯ ° @ 9½ .f¯¯f  ¾f¯n  ¯½f ¾  °–f#¾¯€ ¾€¯    . €nf°  ° ¾€  f€.°  @ #ff¾f°#€n°¾¯ ¾½fn n°° ¾°f f °½ ¾fn ¾°¾½n#  ¾n¾¾ ff½n¾f° fff    –ff°¯f ¾–ff° ¯f nf¾¾nf¾f¯n ¾nf¾° –f ¾  .

ff¾f f °  °  ¾€  ½ ¾ °f ¾ n°€¯¾¾  @ ¾f ¾f ff° ¾½ ¾¯ n ¾¾½° –°f°n €¾¾ © n¾ f° ¾ € f¾ f ¾ °¾° ff¾  .n° ¯½fffn €nf°¯f€f # f  ¾  °ff € °  ½ ¯¾¾  f ¯f  –¾f ° ½n°–f¯° –f °–f  €€°–  °  fn°–€  9½   @¾¾ nf¾   f °°° n ¾€9½ .¾¯ %f¾ n¯ f ° f ° ¾  n °° °f°fffn°€  °n °ff¯½ .f¯¯f   f¾°– –f  nf¯    n €f¯    ¯f¾ff°  ffn €nf°°€nf%f°  ¾   ° .¾¯ f° °° .f¯¯f #¾ f¯½ ¾– ¾f  ¾  ° .  f¾  °  9f  D  f f°f° ° €nf     ¾f¯#¾ –f¾n¾€–  ff ° ¾f° °–€ff¯f ¾¾ f¾ ½° n¯¯°¾ °¾ @ n½¾€ff –¾f°f¾°   ¾–° € ¾nf°¾¾nf¾½   ½fnnff½½nf°  @ f–   ¾f .¾¯ n¾¯ f¾½f€¾¾¯ ¯ ¾ °° n ¾¾f¾ n @  f ¾¯½½f¾¾ ¾°f  n¾¾ fnn ¾° fnn f° ½n ¾¾   €n°¾¯ ff –¾f°¾ ½n  €¾f– °–¯ f°f½ ¾n ff°  °¾°–f°¯½ ¾ ¾nf¾½ n¯ °n°fnf°€ ¾€€¾  J °n¯ ¾¯ f € f¯½  n° °¾f  f¾€ @ ¾f–  f¾ f   nf°½f  f°¯ff¾  ¯ n€  f¾f¾f½°€ f°     n°f°°–¯½ ¾   € f°¯f    f–f° 9½ .

¾f°f°   ¾¾¾ f° #¾  ½ f¾n°n °f¾ff¾ ¯ f  €f¾¾f–    f      .

¾f° ¾   °f¾f°€  ¾°¾f°  f   ° ° ¾¯ € f#¾¯€¾   ° –°¾¾#¾n °½ °½¾f°  ° –f  ¯f ½  ¾°–  ¯° ½f° °n° °–½ n¾¾nf¾ffn €  ¾½f–  n€€ ½ f°     € f°   °°¾ ¾f°f€€° 9½ nf f– € # f¾   €€n#  @ 9½ ½ f ° ½°n½ f¾  – °–ff   ¾ f  °  ° ½ ¯¾¾ €°–¾ ° € ¯f¯¾€% f½½nf°€f#ffn f%¾f ff½ n ¾ff¯ f½ ¯¾¾ n¯ ¾ € ¯½ ¯¾¾   .

@¾¾¾¯ °–f ff¯–¾f n° ° °€– °   °° ¾ ° .  °#¾ ¯ n n .#f° % %¾f¾ # f° ¾# @¾n¯¯f° ¾f°f€€¯f°€ ½ ¯¾¾ € ¾ °n °¾ ¯½ ¯¾¾     ¾°¾f € f¯½ # f° ¾¯½ ¯¾¾  #    °f€f°n¾€¯°  ffn €°– ¾½¾°  °fnf ° ¾   °–¾ ¯ ¯½ ¯¾¾    ¯°½  ¾ @ ° °–€  °   €°–¾¾f¾ ¾  fn€  –  #¾ –f  f °€°°– f° ¾f°– #.

#f°f¾  °  ¾ ¾ ¯ °ff f¾½f– ¾ f  ¾½ ° °¾f°– ¾ ¾ °–  ¾ –fn ¾f° – ° ¾€. f°€¾ #   ¾ ¾f¯ ¯ °  f  ¾f¯ .

 f°  @ ¾ ¯€– f¾ ¯f f ¯f °  –f f¾f°¾ ° .¾¯¾f  °©° ¾f¯ f° ° ¾ €€ n nf¾¾nf¾nf¾¾nf¾¯f¯f ff  ¾f  °– €¾€.

¾¯½¾n  °      ¾f f € ¾  f° nf¾ ¾f½½ €nf°¾€ff ½f€ ffn €nf ¾°f¾€½ n¾f °#° n €nf°  @¾ f ½ f½¾ °f ¯ ½fff  f  ¾ ffn €°–   ¾° ¾   ¯°¾ fn° n¯¯° ¾  ¾ ¾nf¯¾   ¾f¾°f½½ °  @ ¾f¯nn f½ n°  ¾¯¾¾  ½ n°  ¾  –f  ¾¾€n f¾ ° f  @  nf°f f¾nf° nf°¾°¾f ¾ ¯° ¾¾ f €° ¾¯½ °# ¾ @  f °¯f©° ¾¾nf¾½¾f°  °€nf€€  ° °f¯ ¾€f° € ¾    ¾   . f°f¾°   ° f° ¾ ° ½f€ .

°¾ °–f#¾¯° ¯f €° °– ffn €nf°½n ¾¾ f¾€nf°¾  ¾  n€ ¾ ¯f° °–¾¯ ° €¾nf  ° °€° ¾¯ ° ° ° ¾n¯ f¾° ¾ ¾¾  nf°°n°n f¾ € °  ¾f° – f f½f    .

Sign up to vote on this title
UsefulNot useful