Article: Global Monetary Trend

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MMJ’s views on the Global Monetary Trend

The biggest hurdle to understanding each nation’s economy in relation to the world monetary trend is that we grew up in a box, we were educated in the box and we try to find solutions staying in the box. There are two levels of not understanding the monetary system, domestic or international. 

One, we do not understand how wrong this economy is compared to the one we are supposed to be operating in as Khalifatul Ardh, or the Vice Regent of Allah on this Earth. Whilst we are in the eye of the Storm of the Palestine/Israeli War we wish to remind the Israelis that God makes mankind His Vice Regent on Earth. As Muslims we find unspeakable, the notion of the Children of God, Allah the Most Gracious and the Most Merciful loves all His creations equally, and He wants all to recognize that there can only be One God, and for all mankind to worship Him as the One and Only God for all mankind, no partners has He, and Muhammad is His Messenger, the last of His Messengers.

The second level of misunderstanding is not to recognize the bare truth in the operations of the system, lost in the spiel taught over generations.

One basic failure of truth in the Education System is the failure of Economics as a subject not to recognize the truth of banks as the nation’s money creators. Of all subjects in our education system, Economics plays the most crucial part in moving the nation and the economy. 

Governing a nation is essentially about ensuring the well-being and prosperity of its people. And this is done by managing the Economy of the nation. Universities teach Economics, people graduate as Economists, and they advise governments how to manage the economy. And yet these people are taught banks are neutral institutions moving money from deposits to loans, from surplus units to deficit units. The banks are neutral, they are taught. 

This is a fundamental flaw in the subject of Economics. Banks are havoc money creators in any nation; they can destroy economies with their self-preferred policies. If you are the money creator in a nation – and its proven banks create 95% -97% of monies in any nation. And this money is not paper notes but numbers money the banks just create when they give out loans. 

Banks creating numbers money is known and approved by Central banks (confirmed by Bank of England, Central European Bank and the Federal Reserve). Imagine the Economists in the Economics Planning Unit of a nation not understanding this! What a disaster!

If you are a money creator and you direct the money/your loans to the real sector, the real economy of companies and businesses we can’t fault you, for that will create jobs and economic output. 

But if you prefer to direct money/loans to personal loans and credit cards and generally to the personal sector in your self-interest, that is wrong! You will create permanent inflation of food and other prices in the nation. You will further create rocketing house prices, widening poverty gaps, rocketing house prices, unemployed youths, and graduates and because people must eat and thus grab any job, depressed wages, and salaries for everyone. 

The SME sector creates 70% of jobs in any nation, and throughout the world, but the SME sector gets only 7%-16% of money loans from the banks. This means every year too few jobs are created compared to the number of youths and graduates joining the job mgenerally,d generally there are too few jobs compared to the size of the working population. 

As a result of facing an employers’ market, wages and salaries for the most people in the nation are low and depressed whilst inflation is sky rocketing. And while the nation suffers the banks cream off billions in Profit. In Malaysia, the banks grabbed RM44 billion profits per year come rain or shine. In the UK, its GBP44 billion p.a. come rain or shine

You may wonder why the Central Bank does not interfere to solve the problem. The short answer is the Central Bank is the problem! Lost in their own world, Central bankers never question the validity of their job – everyone engrossed in their ambition to be the next Governor, they never question the veracity or the validity of the system they are promoting. 

They take instructions from the Bank of International Settlements (BIS), Basel, Switzerland. They don’t know or don’t care who these people are. The first Board of Directors of BIS includes two ex-Governors of the Bank of Israel and three Federal Reserve Directors. Basel is also the birthplace of the World Zionist Organisation, BIS is controlled by the Federal Reserve, the Private Sector owned Central Bank of America owned by five banking families, Rothschild, Rockefeller, Morgan, Warburg and Koeb-Luhn.

They don’t know or glossed over this information. They are the go-to Advisors to the government of a nation who sadly declares they have absolute freedom to make any decision. The government is also surrounded by Economic Advisors and Economics Professors who do not even recognize that banks create money. These people still believe that Investments will happen in a nation when the people have done enough Savings. They totally missed out the fact that Investments happen when Credit Committee of Banks approves a loan and nothing to do with Savings by the people. 

The international economy or monetary system is the ultimate nightmare for those who understand what the Quran demands. Surah Al Baqarah ayat 279 states Allah and His Rasul declares war on the practitioners of Riba. The international economy and the international monetary system are the ultimate pinnacle in the evolution of Riba. 

The international system is riba, the domestic system is riba, the government do not understand the riba system it is operating, the economic advisers were educated in riba, the central bankers are the secret agents of riba, the newspapers speak of riba, the journalists know and write nothing else but riba, and the people are drowning in debt and riba. There were advisors who were supposed to remove riba, they were frowned upon by the Central Bankers and their limited education in key areas made them ill equipped to fight riba. They managed however to remove the name, riba.

In the ultimate ribafied international currency system all the Superpower have to do is increase their riba rate and their currency value is back hunky dory, leaving a wave of devalued currencies all over the world.

How do you begin to fight and reform this system? First observe the Islamic hadith (mafhum) – Letakkan tugas pada ahlinya – leave the duty to the experts on the matter, the possessor of true knowledge on the matter. Begin with the domestic monetary and economic system. Once that is achieved, assist and apply the same reform to all friendly nations. Then move on to the international system. In sya Allah khair

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Dikemaskini [Updated]: Sam Ahmad 20231122