Capitalism is failing us all. Could Islamic economics be the answer?

[KhalaiMakhlooq]

While your questions are valid from the perspective of a person less familiar with intricacies of finance and economy.

You may be surprised, three of my least famous threads:

https://defence.pk/pdf/threads/free-money-central-bank-the-solution.591524/
https://defence.pk/pdf/threads/wher...ic-introduction-banking-secret-videos.591808/
https://defence.pk/pdf/threads/why-pakistan-is-wealthier-than-india.591761/

Plumber comes under microfinance not even SME and as such doesn't need an underlying asset.

You said you wanted gold as medium of exchange, instead of cash. Everyday example.

For a developer undertaking a $100 million project he will not just pop out it would be an engineering firm (registered with PEC) which has made its way through the ranks. I have dealt with such concerns trust me they have assets well above the project they are handling.

Legal standards and procurement policies and irrelevant. This industry uses bond issuing, that won't be possible. You wont be able to raise finance.

Please understand Islamic model doesn't always have to deal with underlying assets, it is based around trading what it prohibts is riba and gharar which are the foundations of Capitalist economy.

I understand the Islamic model. Its a communist social wealth system where, given a long enough time line each member would equally end up with the exact same amount of wealth. Its a beautiful way but that would mean the King and the beggars would eventually end up with the equal amount of wealth. Do the mathematical models, it will prove it.

If you can't do the math, use the apple example. There are 100 apples, 100 people, and one apple tree that produces 10 apples a year. Each apple is taxed at 2.5% that will then eventually redistributed equally to all.

Assets are of various types even Islamic ones and not all are gold backed.

Yes, but assets are not a medium of exchange. Cash is a medium of exchange, when you package cash into a product, this is called capital. Then you can securitise this like any other asset. Whats the point you end up back with cash?

I don't claim I have the absolute solution to all problems,it is a thread where the topic is can Islamic mode of economics be a replacement for capitalism. Like the doctors/pharma companies do before launching a product, they conduct trials small scale, large scale I understand they call it blind, double blind and vs placebo. Economic model will also have to be tested on small scale then large scale and then larger scale.

You need to back to basics of what you speak about, you don't understand it.

That's one of the reason Debt based model is failing there is less of concern about human dignity or humanity.

You need to go right back to start and look at origination.

2.5% is paid on your wealth, every year. Not your income. And this is redistributed to all people, eventually.

Think about that .

Person A = no wealth
Person B = Lots of wealth

Action = Take 2.5% from B and give to A.

Repeat. It works the same if you have a million people or a billion people.

When trade profits have been made, this is returned to the members. Those members wealth increases and this will be taxed 2.5% and redistributed back to all the people.

So you see how one business venture helps all. And all help all, eventually, its a social wealth system. Make sense?

 

[ps3linux]

You said you wanted gold as medium of exchange, instead of cash. Everyday example.

Your entire premise is based around above, I may have forgotten but can you point out where I wrote that?

One of the mods was more forthcoming by admitting he did interpret my post wrong. Unless fiance and economics are your filed we could discuss, I mean intellectually discuss. I don't the propensity despite being a finance guy telling a doctor how better he could treat a patient by listening to my criticism, something we all have an abundance of.

Some of the more wise ones start their theater every day on media channels from 7 pm to 12 am in the morning they know every thing finance, economics, black scholes model, geology, astronomy, quantum physic, politics, international relation and what else well I guess very thing except their own job, all centered around criticism. There is a difference between criticism and critique, former is what normally these geniuses do, later one carries a possible solution well we do know how difficult that could be.

 

[KhalaiMakhlooq]

Your entire premise is based around above, I may have forgotten but can you point out where I wrote that?

One of the mods was more forthcoming by admitting he did interpret my post wrong. Unless fiance and economics are your filed we could discuss, I mean intellectually discuss. I don't the propensity despite being a finance guy telling a doctor how better he could treat a patient by listening to my criticism, something we all have an abundance of.

Some of the more wise ones start their theater every day on medial channels from 70 pm to 12 am in the morning they know every thing finance, economics, black scholes model, geology, astronomy, quantum physic, politics, international relation and what else well I guess very thing except their own job

Its not just that, your entire premise of the current financial system is wrong. Then your foundation understanding of the Islamic finance model is wrong.

Please start off with knowing what is money and where it comes from. Then we can have conversations about wealth systems.

 

[ps3linux]

Its not just that, your entire premise of the current financial system is wrong. Then your foundation understanding of the Islamic finance model is wrong.

Please start off with knowing what is money and where it comes from. Then we can have conversations about wealth systems.

There is a difference between criticism and critique, former is what normally these geniuses do, later one carries a possible solution well we do know how difficult that could be.

When I want to start a petty squabble, or want to know what other qualification I need to get an understanding of finance I know whom to contact, thanks.

where did i suggest I wanted gold as medium of exchange.

 

[KhalaiMakhlooq]

There is a difference between criticism and critique, former is what normally these geniuses do, later one carries a possible solution well we do know how difficult that could be.

When I want to start a petty squabble, or want to know what other qualification I need to get an understanding of finance I know whom to contact, thanks.

Start here:

Then ask the experts:

 

[ps3linux]

Seriously. Goodness what's it from elementary school book or college book.

Please enlighten a financial engineer, i plead you.

 

[KhalaiMakhlooq]

Seriously. Goodness what's it from elementary school book or college book.

Please enlighten a financial engineer, i plead you.

 

[God Parshuram]

What is Islamic Economic model which can be adopted by other nation to sustain their economy? Can anybody please explain?

 

[ps3linux]

Better nonetheless.

My views on gold as a medium of exchange, or copper, or leather have few considerations. the volatility in the exchange rates (if metals are chosen as medium of exchange) due to changes in international prices, safe keeping, prove to forgery, frauds , how to produce/extract more of it. Our own economy and exchange rates did better as long as we printed currency having 1/3 gold backed.

What is Islamic Economic model which can be adopted by other nation to sustain their economy? Can anybody please explain?

I am working with few people preparing a working paper, JAK bank is being used an example. Many people are working along different lines frankly without a serious sovereign support and a test bed I don't think the idea is going to be implemented in the near future.

 

[Ahmad Saleem]

https://twitter.com/x/status/1258417555833675777