That was the shortest possible I could have posted... I'll try to unfurl some more
The current fiat system works on levying interest over a specified period of time. In Islam, money has no time component you simply have to make the object whole again... such as gold... once mined it has a physical presence and value based on market. So, you do not commodity yourself for a specific period of time... i.e. indenture.
Contemporary scholarship deals with time instrument of interest as "an object" such as physical gold... but than to make it whole tries to put time coefficient going over hoops and optics. Essentially trying to declare their square peg round.
The two are incompatible.
The redefined money and markets, as done over past couple of centuries, has completely redefined what we call money today... it went from gold/silver... i.e physical money... to a paper tender in lieu such as in gold/silver standard. Codified by Bretton Woods agreement and it's spawned institutions... later abandoning the gold standard altogether and going full fiat... but mandating critical markets to function only in such fiat.
We completed the circle!
it is physically impossible to be perpetually earn more than lent sum... if money(the physical one) has a finite presence. Therefore, a fiat that keeps inflating into perpetuity is the only answer for the lenders to keep the enterprise alive.
British abolished slavery only to bring in indentured labor... hired over time and they get to keep their baggage. Meaning the investor was forever green... profitable in perpetuity. Which is what fiat essentially needed... a labor that is hired on time and slaves over time... making both the "lender" and owner/investor/borrower or whatever, profitable!
Over mankind!
The two remain irreconcilable!
The system essentially puts the inanimate "profit" as in charge and lender it's surrogate.
