Islamic Currency
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Peace,
There is nothing wrong with paper money except that there should always be a balance between the total value of goods and services and the money in circulation. Gold etc on its own would be deflationary and restrict trade. On the other hand what most countries are doing with paper money is they're mortgaging their future by pumping money to fuel a debt bubble and add to inflation. Both deflation and inflation are unjust.
There needs to be integrity and sound policy in the control of money. Money is an IOU and it should probably be backed with something behind it.
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Peace be upon you Sha,
What will it be like? How will it be different? Any views?
I guess it will grow a beard and fold up in your pocket 5 times a day
Just joking, but thats all I could think of with that label "Islamic". Lets continue to speak in english so we don't apply the wrong ideas to these words.
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Peace be upon you Ali Omar,
lol Sorry, I was in a silly mood lol
Glad I could bring some laughter
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I suppose then the currency
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Should be backed by some sort of reserves (not necessarily gold) to give it REAL value.
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Should be pegged to the value of gold to keep it from inflationary tendencies.
Ps.
Peace idolfree
What wrong ideas are you referring to?
And I don't think you should make fun of anyones religion. Humility? Compassion? Tolerance?
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Peace be upon you Sha,
Peace idolfree
What wrong ideas are you referring to?
The term "islamic" currency, how can currency 'peacefully submit'? To describe currency as "islamic" is not HOLISTIC thinking. We are not being taught a "religion" for a select group of people under the title "MUSLIM", we arebeing taught the system for HUMANITY.
And I don't think you should make fun of anyones religion. Humility? Compassion? Tolerance?
I am here on this list because I have faith in the message of this reading(quran). There is no such thing as "religion". I only intended to show the incorrectness of the term "islamic currency" with light humor. No disrespect was intended to the money in your pocket, please apologize to any of your dollar bills that might have been offended. (Smile, it was more humor)