Discussion in 'Financial Cents' started by Ganado, Dec 9, 2016.
Gold Can Be Used In the Islamic Finance Business for the First Time
" Shariah-compliant rules for trading the metal." WTF is that?????????????
If it's metal they want, I'll pay them in copper and lead...
No jew gold unless you killed the jew and stole it fair and square.
The bank you purchased the gold (or silver) from either has or can get you the pm in one day.
No more inane than the rules regarding usury in the OT....Usury was only proscribed with regards to business with fellow Jews....but infidels (including Christians): not a problem!
I'm sure jewelry teeth will get 3 or 4 times the spot price.
Kind of like natural nuggets.
you can make all the jokes you want but this is a game changer. now we won't trade oil in anythign but gold. THis means the petro dollar is dead which means prices in this country will skyrocket. You will be using your preps in the next 2 years for economic reasons..... that's my prediction....
and of course there could be a change in how power is distributed.
Jew gold has been very acceptable to Christians....some, at times were not overly fussy how it was extracted.....
Aktion Reinhard Economics
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@chelloveck I wasn't posting this based on religion.... the post is really about oil. It just happens that the countries the USA trades oil with in petro dollars are Islamic. That is what makes trading gold for oil a game changer in financial markets.
I would rather give them lead
Understood, and I appreciate your take on the economic implications of the accommodation by which Muslims may now trade gold. Unfortunately, as often is the case, when sharia, Islam or Muslims are mentioned (even tangentally)....the topic or subject seems to almost invariably become a lightening rod for religious cheap shots at Muslims expense.
I have no particular affection for Islam, and I consider Sharia law as pestiferous to humanity as (Christian) church canon law; but Christians and Christianity needn't assume the moral high ground when it comes to their treatment of Islam and their Muslim bretheren: Christians, have, in living memory, perpetrated against the Jews, the very worst crimes against humanity imaginable. I just point out that Christians have been offering Muslims, many splendid examples of how Jews can be persecuted, on an industrial scale. Any wealth plundered is simply a bonus.
Every Muslim i have met are RICH .
A representative sample of all Muslims?
In the USA, according to Pew research, as a cohort, Muslims do only slightly above, or slightly below the national average income for each of the five income bands*.....I think that any income envy in the USA might be directed at those damnably polytheistic Hindus.
* Although the referenced Pew statistics are about 7 years old, I doubt that there'd have been any radical changes in the numbers since then.
Via:Income Distribution Within U.S. Religious Groups
Religious Landscape Study
The Jews just don't advertise that they are rich.
For the life of me, I fail to see how gold will be forced into use as the only medium of exchange. They can eat their oil or trade for wheat and rocky mountain oysters. Gold has always been acceptable, tho' rather inconvenient to ship around in lieu of currency certificates, either as paper or as electronic credits.
20 or 30 years ago, yes, gold would be the one "Hard Currency" internationally accepted with out qualm. However, the switch to "credits" in trade, be it actual tangible substance, or "virtual credit" insures the switch from Strategic Metal Assets to virtual assets makes this economic exchange largely academic. The largest share holders of Gold are the only ones that benefit in this deal, and the U.S. and Russia are not part of that. China has been gathering up all the Gold it can lay it's hands on, and building up its treasuries to insure a global monopoly for which to force trade on its own terms to what ever detriment of other nations that would mean. China is by far the largest consumer of Oil, so in order to insure a continuing supply, a switch to gold as hard currency in trade for oil at the supply source makes perfect sence. Not sure what that means to the rest of the world, but those that have Gold will be in a better position then those that do not!
you have to do your homework on the petrodollar and international trade. i can't lay it out any more simply than I did.
and @Ura-Ki you are correct on China being the largest gold holder. China will be the next global super power if this keeps going. They won't have to exchange thru the US dollar any more now they can trade directly with the middle east.
@chelloveck I have problems with how those statistics are compiled. Many of Muslim families have multiple wives. They come into the USA as part of an extended family but are really the wives of the guy who is living in a big house with lots of money but because polygamy is illegal, the women file for welfare as a head of house hold and are counted at the poveryt level in statistics but the reality is they carry Prada bags and drive large SUV's. So how statistics are counted is critical to actually determining the poverty level of any group.
Yup! Some say that trade in actual assets is dead, with virtual trade the running trend, and with the super powers leading that trend, I see no way for gold to usurp this with out a quantum shift in the way trades are carried out. As pointed out, a truck or plane load of gold is heavy and a pretty big target, so I see gold as a largely moot. And with China ( and most of the rest of the world) moving away from the Dollar as the bench mark of trade currency, this brings international competition back into the mix. The big problems with the U.S. is the switch from the dollar makes trade incentives less favorable to the U.S. and so taxes and import restrictions, and a more aggressive trade status will need to be rolled out, or we will fall way behind the curve. This is where I see, and hope, Mr Trump can shore up U.S. business dealings with the rest of the world!
You should be lucky to have a TRUMP on this news. Having a EBT elected "Banded Cat " that knows squat is as bad as Canada having a school teacher running the show.
Let's hope that Yosemite Sam has just been asked to clean house, and restore our western ways !
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