The VERY Essence Of The Banking Industry...

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The VERY Essence Of The Banking Industry...

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nota
Member

Posted 1 year ago on 07 Oct 2010 5:26 #
shafiq12
member

bank are the tool of democratic system to make people poor and to create environment to trap people, Once u are in trap of Interest u will no be able to getout of it, U will waste ur whole life.

Posted 1 year ago on 07 Oct 2010 5:30 #
toamin
member

slaves to debt -impressive sum up in less than 2 minutes!

Posted 1 year ago on 07 Oct 2010 5:37 #
nota
Member

Some additional reading...
Germany STILL PAYING WWI debt

Money is Power: A Inside View of the IMF's Massive Global Influence

Pentagon: More War Will Promote Reconciliation

Killing Each Taliban Soldier Costs $50 Million

Cashing In On Soldiers' Deaths

Last but not least:
War is a Racket by Major General Smedley D. Butler

Posted 1 year ago on 07 Oct 2010 6:03 #
Beenai
Moderator

the whole banking industry is facing a trust deficit , world wide ...banking system has no more reliable for the people .

as most of the world consumers has found out the disadvantages or may i say ,curses of Credit Card .
most of the consumers has came to know , what Home Loan , Auto Loan and Vacation Loan is all about ?

that's why many banks are getting bankrupt .
we can see many international banks winding up their businesses all over .
we can see merger of two banks .
so they can support each other .

same is true for Pakistan .

i use to have my salary account with Prime Bank .
after an year , i was informed that it has been purchased by ABN AMRO bank .
so i got the ABN AMRO cheque book and ATM.

after exact one more year , i was informed by another letter from the bank that now ABN AMRO has been purchased by Royal Bank of Scotland .
so i got the things changed .

now few months back , i got another letter .
that Royal Bank of Scotland has been sold to Muslim Commercial Bank (MCB) ....

in 5 years .... 4 banks has been sold ............
i can judge from my own place .
why Banking industry is suffering badly ?

Posted 1 year ago on 07 Oct 2010 6:13 #
voxlibertas
Member

Indonesia recently switched to the Gold Standard.

Posted 1 year ago on 07 Oct 2010 6:17 #
nota
Member

"i can judge from my own place .
why Banking industry is suffering badly ?"

I think that is way oversimplifying AND distorting the issue...

"Banking industry" is NOT sufferring. Only depositors are. In each of the cases you mentioned, each of the bankers laughed all the way to the bank :-p

Are you aware banks are making record profits (and not just here) in these times of "suffering"? Hell, I'd like to suffer like that!
(Do a google search on "bank record profit" and you will see what I mean...)

The bankers never suffer. The system is designed that way...

Posted 1 year ago on 07 Oct 2010 6:32 #
voxlibertas
Member

Indonesia recently switched to the Gold Standard.

Actually traditional Islamic banking is quite close to the Austrian Gold standard system.

Posted 1 year ago on 07 Oct 2010 6:37 #
sasherwani
Members

i dont really agree.. it all depends on how immature one is with managing his/her financials.. i extensively use credit cards but have never paid interest on it..i had a 5 yrs mortgage that ends this yr. If it werent for the mortgage i would never have owned a nice house. I have a car on installments that i shall pay off by Apr '10. I lost my job during the recession but I still kept paying the bank from my savings..the bank was nice enough to give me extension on my mortgage till i got a new job.

I dont consider banking bad or evil. I think its the people or the countries who arent financially savvy enough to communicate with banks properly.

Posted 1 year ago on 07 Oct 2010 7:20 #
Beenai
Moderator

When u have auto loan , u always ended up paying much more and getting a car on a much higher cost .
its given .

Posted 1 year ago on 07 Oct 2010 7:29 #
Truthlover
Member

The whole financial system is a tool to enslave the individuals and the nations. Banks are like fish, larger fish swallowing smaller ones, these never ending mergers shall finally lead to control of the whole system in few hands, the super controllers. In time and space we are not far from that stage, when Antichrist or Dajal can have an absolute control over all resources.

Posted 1 year ago on 07 Oct 2010 8:14 #
shafiq12
member

Truthlover

you said=

The whole financial system is a tool to enslave the individuals and the nations. Banks are like fish, larger fish swallowing smaller ones, these never ending mergers shall finally lead to control of the whole system in few hands, the super controllers. In time and space we are not far from that stage, when Antichrist or Dajal can have an absolute control over all resources.

That is what i am trying u to explain u in past discussion. But u never agree but luckly u utter the words. There is need of Islamic System based on Quraninic Teaching.

Posted 1 year ago on 07 Oct 2010 8:26 #
shafiq12
member

Every Muslim is required to examine carefully his income sources to ensure piety and freedom from all types of prohibited transactions and doubtful matters. If a person's religious sentiment is weak, he will fall into doubtful ways of earning money. This will eventually lead to ways that are clearly prohibited. Nowadays many do not care about their source of earning, whether it is halal or haram.

The Messenger of Allah, sallallahu `alaihi wa sallam, said:
"Verily, a time will reach the people, when the believer would not be concerned how he earned money, whether from Halal or Haram." (A sound hadith narrated by Imam Ahmad)

Posted 1 year ago on 07 Oct 2010 8:29 #
choosy
Member

aik purany shair Urdu kay kehtay hain Banko kay baray mein :

Kothi mein hay jama, na deposits banks mein
Qallash kar diya mujhay 2 , 4 thanks mein

shayad Akbar Allaha Abadi ka shair hay .
i love it... he he he

Posted 1 year ago on 07 Oct 2010 9:47 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@nota: Excellent! video.

ALL the wars happening in the world, they are all about;

(1) 'control'
(2) 'slavery'
(3) 'slavery' to 'debt'

These wars are being 'forced' or 'waged' so that entire populations are put into 'debt' 'slavery'.

Pakistan is doing the same thing. Pakistan has incurred, Pakistan has added Rs. 4 trillion to internal/local debt as a result of 'taking part' in the American 'war on terror'. This has happened in these last 2 years, under 'democratic' rule, ballooning Pakistan's internal debt from Rs. 4.x trillion to Rs. 8.x trillion, in these last 2 years.

Today Pakistan owes $70+ billion to international banks. Plus Rs. 8.x trillion of internal debt. And these figures are rising!.

When everyone in the entire world becomes a 'slave' to 'debt' money that is (actually) coming from these banks, everyone will become 'slaves' of the 'bank'.

..and the bank owners are Zionists/Unjust Jews, who are the worst of enemies of Islam, of all people in this entire world.

The time is close, when Muslims will only have Islam, and non-Muslims will pit the entire world against us. Yet we/Muslims will prevail. But only at a time when we adhere to Islam. Not otherwise. Otherwise we will incur very very heavy losses, of all kind.

Posted 1 year ago on 07 Oct 2010 10:34 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@sasherwani: You say that because you haven't seen what banks do, how they operate .. yet.

Dig deep, dig deeper, conduct your own independent research into;

(1) banking
(2) 'interest' based business
(3) Jews
(4) Practices of Jews
(5) 'Why' Europeans treated Jews as they did when Europeans 'evicted' Jews from their land
(6) etc etc

There's a 2000 year long history you can look into for this as 'repeated' evidence.

Posted 1 year ago on 07 Oct 2010 10:45 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@VOX: Indonesian people are smart. They are changing their practices to save their hard earned money from being 'forcefully' 'stripped' off of its value, its worth, which is 'stolen' and pocketed by the same banks.

I plan to do the same i.e., switch all my assets to gold. Of-course, I'll keep some small amount of money in hand for living.

Posted 1 year ago on 07 Oct 2010 11:00 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

ALL these wars, they will not only continue, they will 'escalate' so long as;

(1) 'banks'
(2) banking system
(3) interest based business
(4) fractional reserve currency

continues to 'exist'.

Posted 1 year ago on 07 Oct 2010 11:02 #
shafiq12
member

We Need a System based on Quranic Teaching not a system based on Jew Mythology.

Allah subhanahu wa ta`ala said:
"And do not eat up property among yourselves for vanities, nor use it as bribes for the judges, with intention to eat up a little of (other) people's property wrongfully and knowingly." (Al Baqara, 2:218)

Besides the three primary physical needs of man, which are apt to make him greedy, there is a fourth greed in society, the greed of wealth and property. The purpose of fasting is not completed until this fourth greed is also restrained. Ordinary, honest men are content if they refrain from robbery, theft, or embezzlement. Two more subtle forms of greed are mentioned in the verse. One is where one uses one's own property to corrupt others - judges or those in authority - so as to obtain some material gain, even under the cover and protection of the law. The words translated "other people's property" may also mean "public property". A still more subtle form is where we use our own property or property under our control - "among yourselves" in the Text - for vain or frivolous use. Under the Islamic guidelines, this is also greed. Property carries with it its own responsibilities. If we fail to understand and fulfill them, we have not learned the full lesson of restraint while fasting.

Posted 1 year ago on 07 Oct 2010 11:09 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

Video: Gerald Celente - don't get fooled again

29-November-2009
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Source: Youtube Channel: netlethe

Posted 1 year ago on 07 Oct 2010 11:37 #
Truthlover
Member

"sasherwani,
Your description doesn't sound correct, even though the banks can be reasonable at times. They are so not for your good and benefit but to keep you in their tight grip and in order not to aqueeze you to death.
Now tell me, what kind of mortgage are we talking about that could be paid in five years time? For most of the average house prices, one is lucky to be able to pay just interest, while the real mortgage can linger forever without diminishing a bit.
Yes one can pay the interest through savings for a brief period but to pay it without a job is impossible.
Do you know anything about banking or the process of enslavment?
One simple truth,
If you can't afford something through cash payment, you can never afford it through installment, as the price is atleast 50 to 100 percent more at the end of the day.
Please wake up!

Posted 1 year ago on 07 Oct 2010 12:11 #
shimatoree
Member

The answer about banking industry lies in the question-

How many bankers you know who are poor ?

Posted 1 year ago on 07 Oct 2010 12:30 #
gv
Member

Wow how very insightful

baaaaaaanking is baaaaaaad lets all go baaaaack to a nice fuzzy and warm feeling baaaarter system which is so much more godly and moral

No doubt bankers are a crooked and greedy lot and need heavy regulation in order to protect the consumer (and the economy) ... to deny that modern finance provides considerable impetus to economic growth is imbecilic and backward looking...

Posted 1 year ago on 07 Oct 2010 12:42 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: Weren't they 'already' in place some time in history ?

Those regulations were 'systematically' 'dismantled'. Remember ?

Posted 1 year ago on 07 Oct 2010 12:58 #
gv
Member

@hk

and thats the problem - politicians need to stand up to pressure (read bribes) from wealthy industries that want to have their cake and eat it too..

Posted 1 year ago on 07 Oct 2010 13:01 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: What's your point ?

Why do you want to allow the already 'consistently' 'liar' politicians to have 'more'! chances at this ?

Isn't the experience of the last 110 or plus years already more than enough ?

You want to 'continue' to 'allow' 'criminals' to die of old age ?

Isn't it already enough that most of the wealth of the planet is in the hands of the 'few', while the 'many' are 'barely' 'surviving' ? Which in-fact is causing 'severe' problems, all over the globe ?

Posted 1 year ago on 07 Oct 2010 13:03 #
Truthlover
Member

@gv,
No one is denying the importance of financial institutions in our present world. The whole system of economic growth revolves around it. It has gone that strong that it controls all other fields of life and by that I mean political, social, religious,......
This newly evolved god is the most powerful one, a new golden calf.
This is the most powerful instrument that genious of our race have invented and it's all prevailing, all- embracing and omni potent, right?
Create a need when there is no such, is the slogan of this seductive system and thus makes the world a colourful but shallow place of misery.
Where new dreams are woven by the threads of vanity and illusion, very backward looking indeed!
This system gives to you all that you can't afford in return for I.O.U. A price tag that is much more than you think it is. That's slavery but cleverheads like you prefer to ignore such facts suimply because the awareness of the truth is not good forthe system, the consciousness among masses shall bring this system to a collapse, so keep selling the dreams in return for slavery.
Banks are traps devised for individuals and nations.
The financial system keeps forging the money, the non-existing money.
For what's money, except a trust that can be breached!

Posted 1 year ago on 07 Oct 2010 13:06 #
gv
Member

fine replace politicians with government representative of your choice...

sheep, monkeys, insects, etc etc

Posted 1 year ago on 07 Oct 2010 13:07 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: How do you substantiate this claim ?

P.S. I wonder if your argument above has something to do with the fact that you yourself work in the banking system ?

Not interested in doing 'productive' work, eh ? Yet willing to stash more cash in your pockets at the same time ? Too bad, your willing to be unjust at the expense of countless millions.

Posted 1 year ago on 07 Oct 2010 13:10 #
gv
Member

@TL

That's very poetic.. (though i resent being called a 'clever head' :P )

However, you can't blame an insititution for a society's ills...

The instituition is merely a projection of the society's value system..

The problems lies much deeper than the banking system..

@hk

yes that;s why i consider myself qualified to have an opinion about it..

Posted 1 year ago on 07 Oct 2010 13:12 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: That's exactly why you aren't qualified i.e., there's a conflict of interest.

..and yes, please enlighten us all with the underlying problem.

Posted 1 year ago on 07 Oct 2010 13:13 #
gv
Member

@hk

for crying out loud read my posts for gods sake... im in agreement of heavy regulation of the banking industry which i believe to be heavily flawed in favour of the banks interests and not the consumer's...

Posted 1 year ago on 07 Oct 2010 13:15 #
toamin
member

currently currencies are mostly dollar based, so changing the base from dollar to gold doesn't mean going back to barter system, in fact just few decades ago dollar itself was based on gold

so why not make currency gold based, it will KILL inflation instantly?

Posted 1 year ago on 07 Oct 2010 13:18 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: ..and I just told you 'regulations' 'were already in place'. And we know all of the history around it. We know all that went on.

You profess to know history more than me. So, you should be informed more intimately than I am.

So, what is it ?

*hint* Having regulations doesn't mean they will never be side-stepped, they will never be 'manipulated'. We have seen them having been 'consistently' side-stepped, 'consistently' 'manipulated' in these last 100-200 years.

Posted 1 year ago on 07 Oct 2010 13:22 #
Truthlover
Member

@gv,
It wasn't my intention to be rude, sorry!
Yes, I agree that the whole financial system is just an instrument in the hands of mighty but what to do about it, we just see these tools and not the figures behind the scenes, running the world, strangling the masses with fetters.
I don't blame these institutions for anything and yet believe these to be an evil instruments in hands of Evil.

Posted 1 year ago on 07 Oct 2010 13:22 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: Do you think there would be any 'motives' for having banks, banking system when we 'remove' 'interest' from the picture, at the back ?

'Interest', 'interest' 'based' 'business' is the 'driving' 'engine/force' behind 'most all' 'injustice' all over the globe today. Is it not ?

P.S. Why do you think ALLAH ALMIGHTY 'declared' 'war' in the Quran, on those who establish, run, who propagate 'interest based business' ?

Posted 1 year ago on 07 Oct 2010 13:24 #
gv
Member

@salam

Firstly there is a limited gold supply in the world,

Secondly gold prices can be manipulated by speculators

Thirdly using the gold standard tends to favour wealth hoarding as cash money now has intrinsic value-- which means less investment

Fourthly inflation is driven by gold supply (or lack of)

fifthly you cannot use 'loose' monetary policy to lessen the impact of economic down turns as you can with fiat money..

need i go on..

Posted 1 year ago on 07 Oct 2010 13:32 #
gv
Member

@TL

no offence taken :) though we can use that same evil instrument analogy for the simple pen (or keyboard in our case)

@HK

yet again i give up in the face of your superior debating skills.

Posted 1 year ago on 07 Oct 2010 13:34 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: How about this one ?

Gold allows human beings all over the globe to 'safeguard' themselves from being 'ripped off' from the worth of the money they work very hard! to earn while working under increasingly worse situations, fiscal policies, state policies, international conspiracies, etc etc ?!

Posted 1 year ago on 07 Oct 2010 13:35 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: Why don't you answer my question ?

In your opinion, would there be any 'motive(s)' for having;

(1) banks
(2) banking system
(3) fractional reserve currency

when we 'remove' 'interest' from the picture, at the back ?

Posted 1 year ago on 07 Oct 2010 13:38 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: First two of your points above are unsubstantiated. I would call it, utter! BS.

Point #3, as far as my knowledge is, at the point in time, be it in a 'capitalist' or a 'Muslim' society, both societies have a 'financial system' that 'encourages' people to invest, rather than 'horde' money.

The only reason people would 'horde' money is when they have reason to 'fear' that 'injustice' has gone 'out of control'. That injustice is spreading 'far and wide'. That injustice is going on unchecked.

Posted 1 year ago on 07 Oct 2010 13:41 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: I want you to substantiate all of your 5 claims above.

I have reason to believe, these points 'represent' 'your' 'fear(s)'. Nothing more.

Posted 1 year ago on 07 Oct 2010 13:45 #
gv
Member

@hk

its ok hk you win - let me know when you implement your perfect utopian system will you ? :)

Posted 1 year ago on 07 Oct 2010 13:46 #
toamin
member

gv,

issue isn't limited gold or silver or precious material, issue is having virtual money, it is that virtual money that creates inflation.

if currency is backed by gold/silver that ensures that there is no inflation, it is virtual currency that leads to inflation.

investment is compulsory because hording is haram in islam (welcome to islam's economic principles)

Posted 1 year ago on 07 Oct 2010 13:48 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: I am not taking part in this discussion to 'win' or to 'win something'.

Why can't you carry on a rational, reasonable discussion ?

Posted 1 year ago on 07 Oct 2010 13:48 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: I posted information on Islam's financial system. In these videos Dr. Israr compares Islam's financial system with many other man made systems.

Video: Islami Riyasat Ka Maashi Nizam

Haven't you gone through it ?

Posted 1 year ago on 07 Oct 2010 13:51 #
gv
Member

@salam

Gold being a commodity is valued(priced) by its demand and supply. Therefore your currency will fluctuate based on global demand and supply of gold

Secondly how do you enforce ivnesting? i.e. how do you prevent hoarding in an economy of 180m people

Posted 1 year ago on 07 Oct 2010 13:52 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@gv: This question was answered in the above mentioned videos.

You don't 'enforce' 'investing'. You 'make it' 'feasible'. You 'encourage', you 'attract' 'investment' by;

(1) Implementing Islam's ways, standards
(2) 'bringing about' a 'just' 'environment', which 'automatically' 'attracts' 'investment'

It is all explained in that 4 part video.

Posted 1 year ago on 07 Oct 2010 13:55 #
gv
Member

@hk

if you think my 'claims' are fears ask me a specific question which demonstrates you understand the context and i'll reply

Posted 1 year ago on 07 Oct 2010 13:56 #
toamin
member

gv,

demand/supply do not impact value of currency, you will have 100 rupees if you have 1 tola gold, that is point.

100 rupees will only become 200 when you have 2 tola gold to back it up.

you can't have 1 tola gold and inflate it to 1.1 tola, but you can do that with currency if it is not backed by gold/silver

so it is not about supply/demand, it is about how is your currency backed.

Posted 1 year ago on 07 Oct 2010 14:00 #