Friday, June 7, 2013

Banks VS Baitul Maal


We understand....

the humanity has been born into this economic slavery for at least 5 generations now since the creation of Federal reserve Bank in 1912. Now the slave generations have never seen any Gold based economic models nor touched any real gold and silver coins for trade, hence they ask really childish questions as to how will we carry coins to buy groceries or cars or house or how will we find such quantities of Gold and silver to act as currency??

Our answer to them : Please watch our series economic terrorism and read our book Khilafat e Rashida.

Understand the concept of state owned and controlled Baitul Maal, which is NOT a bank but a commodity storage, including Gold and Silver coins. Both the State and the common people can store their coins there and open accounts in real wealth, where a cheque book can be used to make payments against real wealth.

Difference between modern Riba based banks and Baitul Maal is that these banks deal in fake paper, store your fake wealth, offer you some services like cheques, deposit and withdrawals and then lend your money on interest ten times over to ordinary people under Fractional reserve banking -- lending out 1000 rupees against a deposit of 100 only !

If you take out the paper money, remove interest based lending, remove fractional reserve, remove private control of fake paper in private banks and keep the basic services of withdrawal, deposits and cheques against real wealth coins, under state control Bait ul Maal, then the system will become Islamic. Even today, many Gold exchanges have opened up which offer you Gold deposits and withdraws and allow you to transfer your coins through cheque. All state banks having Gold accounts also do this but they do not offer this service to ordinary people. We just have to extend that service to ordinary people. that's it.

For 5000 years, humans have been doing trade like this -- in real wealth from China to Sparta to Africa. This is the only tested, reliable and inflation free model ever known to man. don't argue about it. learn it.



 

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