Iran, a nation out of the control of the International Bankers?
What the International bankers call the "miracle" of compound interest is called "usury" under Islamic law and is considered a crime. It was also a crime under Old English law until the sixteenth century, when Martin Luther redefined the offense of "usury" to mean the taking of "excess" interest. Modern Islamic thinkers are not averse to a profitable return on investment when it takes the form of "profit-sharing," with investors taking some risk and sharing in business losses; but the usurer gets his interest no matter what. In fact he does better when the borrower fails. The borrower who cannot afford to pay off his loans sinks deeper and deeper into debt, as interest compounds annually to the lender
Islamic scholars have been seeking to devise a global banking system that would serve as an alternative to the usury-based scheme now in control internationally, and Iran has led the way in devising that model. Iran's state-owned central bank issues the national currency, with the seigniorage accruing to the government rather than to private banks. The Iranian government is among the few to have very little foreign debt. It uses its state-owned banks to make loans and credits available to industrial and agricultural projects. The most unique feature of the Iranian banking system, however, is that it follows the Islamic proscription against usury. That means loans are made interest-free.
At least, that is true in principle. To make their system work with the prevailing scheme, Islamic economists have had to come up with some creative definitions of "interest." Assuming Iran can develop a workable alternative model, however, it might well threaten the usury-based banking system that now dominates international finance and trade. If governments were to start doing what banks do now – advancing "credit" created out of nothing with accounting entries – they could sidestep the hefty interest that is the principal cost of most government programs today. It has been estimated that eliminating interest charges could cut the average cost of infrastructure, sustainable energy development, and other programs in half. Third World economies might finally escape the iron grip of the international bankers, bringing a 300-year global banking empire crashing down.
A coordinated and simultaneous large scale default on international debt obligations could quite easily damage the Western monetary system, and the West knows it. There might be a war of course, or the threat of it, accompanied perhaps by lectures on financial morality from Washington, but would it matter when there is so little left to lose? In due course, every oppressed people comes to know that it is better to die with dignity than to live in slavery. Lenders everywhere should remember that lesson well.
That could explain the big guns aimed at Iran, and the tightening of economic sanctions against it. Dominoes that won't fall into the debt trap must be pushed. Like in the brutal attacks in Lebanon in July 2006, the military targets in Iran are liable to be economic ones – ports, bridges, roads, airports, refining infrastructure. The threat posed by Iran's alternative economic model will be obliterated by blasting it back into the Stone Age.
http://www.webofdebt.com/articles/war-with-iran.php
What the International bankers call the "miracle" of compound interest is called "usury" under Islamic law and is considered a crime. It was also a crime under Old English law until the sixteenth century, when Martin Luther redefined the offense of "usury" to mean the taking of "excess" interest. Modern Islamic thinkers are not averse to a profitable return on investment when it takes the form of "profit-sharing," with investors taking some risk and sharing in business losses; but the usurer gets his interest no matter what. In fact he does better when the borrower fails. The borrower who cannot afford to pay off his loans sinks deeper and deeper into debt, as interest compounds annually to the lender
Islamic scholars have been seeking to devise a global banking system that would serve as an alternative to the usury-based scheme now in control internationally, and Iran has led the way in devising that model. Iran's state-owned central bank issues the national currency, with the seigniorage accruing to the government rather than to private banks. The Iranian government is among the few to have very little foreign debt. It uses its state-owned banks to make loans and credits available to industrial and agricultural projects. The most unique feature of the Iranian banking system, however, is that it follows the Islamic proscription against usury. That means loans are made interest-free.
At least, that is true in principle. To make their system work with the prevailing scheme, Islamic economists have had to come up with some creative definitions of "interest." Assuming Iran can develop a workable alternative model, however, it might well threaten the usury-based banking system that now dominates international finance and trade. If governments were to start doing what banks do now – advancing "credit" created out of nothing with accounting entries – they could sidestep the hefty interest that is the principal cost of most government programs today. It has been estimated that eliminating interest charges could cut the average cost of infrastructure, sustainable energy development, and other programs in half. Third World economies might finally escape the iron grip of the international bankers, bringing a 300-year global banking empire crashing down.
A coordinated and simultaneous large scale default on international debt obligations could quite easily damage the Western monetary system, and the West knows it. There might be a war of course, or the threat of it, accompanied perhaps by lectures on financial morality from Washington, but would it matter when there is so little left to lose? In due course, every oppressed people comes to know that it is better to die with dignity than to live in slavery. Lenders everywhere should remember that lesson well.
That could explain the big guns aimed at Iran, and the tightening of economic sanctions against it. Dominoes that won't fall into the debt trap must be pushed. Like in the brutal attacks in Lebanon in July 2006, the military targets in Iran are liable to be economic ones – ports, bridges, roads, airports, refining infrastructure. The threat posed by Iran's alternative economic model will be obliterated by blasting it back into the Stone Age.
http://www.webofdebt.com/articles/war-with-iran.php
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