John, to be honest, does the 'principal' in Islamic finance not merely equal 'principal plus accrued interest over the lifetime of the loan' in Western finance?
If it doesn't fine. But what matters is the total paid over the totality of the loan, not what the interest rates were.
However, the money conjured is still debt-based money. The money-as-debt system has to be changed to a money-as-proxy-for-actually-existing-stuff system. Gold, silver, grain, salt, oil, "stuff".
It's very hard too see how Biden has a defence in law, let alone in moral terms, against the charge that he 'supports genocide' in Gaza.
1. He refuses to call for a ceasefire, which means he will do nothing to stop Israel continuing the murders, now around 15,000 and at least 10 times the numbers of Israelis claimed dead on October 7th.
2. He seeks to suppress the right to free speech of a duly elected Congresswoman of Palestinian descent, who is admirably free of the need to suck AIPAC's financial genitalia.
So Biden won't stop the killing and he tells those that call it out for what it is to shut up.
If I were on a jury and Biden were in the dock, I'd ask the judge if I could make a statement after delivering our verdict, as I would like POTUS to hear the full opprobrium of those who hold him- and almost all of his Capitol Hill grifters in contempt.
Rachida Tlaib is a jackal in a sheep's clothing. And both of them ( Biden & Tlaib) are from the same party that hates America let alone the Jewish people.
It's fair to say that 'the Jewish People' hate the Palestinians and much more genocidal in demonstrating that. You might not like what Tlaib has said, but she hasn't just bombed 15,000 mothers, fathers and children to a pulp, has she? And nor has Hamas.....
And the bankers just keep rolling in the dough.
Game of Thrones.
The world needs to eliminate bankers.
Islamic Finance is probably OK.
John, to be honest, does the 'principal' in Islamic finance not merely equal 'principal plus accrued interest over the lifetime of the loan' in Western finance?
If it doesn't fine. But what matters is the total paid over the totality of the loan, not what the interest rates were.
I am no expert, but usury puts the risk all on the borrower, and Islamic finance shares risk and benefit/profit between lender and borrower.
Islamic finance is more of a partnership-in-enterprise arrangement.
Russia has set up 5 Islamic financial institutions recently, as I recall.
The digital Rouble is not an interest-bearing instrument.
Lots of things lead to collapse, like bad weather and used-up farmland.
In a period of expansion through war and colonization, usury kicks ass, but it can't do steady-state.
I read that North Africa and the Sahara used to be lush.
;-(
If you eliminate usury, again, finally, you will much curtail the bankers.
However, the money conjured is still debt-based money. The money-as-debt system has to be changed to a money-as-proxy-for-actually-existing-stuff system. Gold, silver, grain, salt, oil, "stuff".
Michael Hudson: This is not a new problem. The ancients could deal with it.
https://jacobin.com/2021/12/michael-hudson-interview-debt-forgiveness-cancellation-ancient-rome-christianity
America has lost any claim to moral superiority over the nations of the planet. Are we men or are we beasts? Genocide is NEVER right.
Let us have madness openly.
0 men Of my generation.
Let us follow
The footsteps of this slaughtered age:
See it trail across Time's dim land
Into the closed house of eternity
With the noise that dying has,
With the face that dead things wear--
nor ever say
We wanted more; we looked to find
An open door, an utter deed of love,
Transforming day's evil darkness;
but We found extended hell and fog Upon the earth,
and within the head
A rotting bog of lean huge graves.
Kenneth Patchen
Patchen seemed too dark for me just a few years ago. Now, sadly, not.
Ah. I loved his poetry in college. And to this day obviously.https://youtu.be/82COs3cuLC8
Hi John, thanks for your valued service! By the way, thanks also for sharing this picture of a young man.
Thanks Frank. The yellow Tokyo Tower t-shirt my son brought me from his recent work-trip makes me look younger.
It's very hard too see how Biden has a defence in law, let alone in moral terms, against the charge that he 'supports genocide' in Gaza.
1. He refuses to call for a ceasefire, which means he will do nothing to stop Israel continuing the murders, now around 15,000 and at least 10 times the numbers of Israelis claimed dead on October 7th.
2. He seeks to suppress the right to free speech of a duly elected Congresswoman of Palestinian descent, who is admirably free of the need to suck AIPAC's financial genitalia.
So Biden won't stop the killing and he tells those that call it out for what it is to shut up.
If I were on a jury and Biden were in the dock, I'd ask the judge if I could make a statement after delivering our verdict, as I would like POTUS to hear the full opprobrium of those who hold him- and almost all of his Capitol Hill grifters in contempt.
Rachida Tlaib is a jackal in a sheep's clothing. And both of them ( Biden & Tlaib) are from the same party that hates America let alone the Jewish people.
It's fair to say that 'the Jewish People' hate the Palestinians and much more genocidal in demonstrating that. You might not like what Tlaib has said, but she hasn't just bombed 15,000 mothers, fathers and children to a pulp, has she? And nor has Hamas.....
If Ram is a typical Zionists, hating "Jews"(Ashkenazis) is worse than bombing Palestinians.
I left you some comments on some of your blog posts.
Your "avatar" reminds me of Cheech Wizard.
Shredded cedar.