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US Treasury Submits to Sharia

post #1 of 14
Thread Starter 
Certainly a step that direction, it seems.

http://washingtontimes.com/news/2008...ts-to-shariah/

The U.S. Treasury Department is submitting to Shariah - the seditious religio-political-legal code authoritative Islam seeks to impose worldwide under a global theocracy.

As reported in this space last week, Deputy Secretary of the Treasury Robert Kimmitt set the stage with his recent visit to Saudi Arabia and other oil-rich Persian Gulf states. His stated purpose was to promote the recycling of petrodollars in the form of foreign investment here.

Evidently, the price demanded by his hosts is that the U.S. government get with the Islamist financial program. While in Riyadh, Mr. Kimmitt announced: "The U.S. government is currently studying the salient features of Islamic banking to ascertain how far it could be useful in fighting the ongoing world economic crisis."

"Islamic banking" is a euphemism for a practice better known as "Shariah-Compliant Finance (SFC)." And it turns out that this week the Treasury will be taking officials from various federal agencies literally to school on SFC.
post #2 of 14
blah dont worry,
after obama wins you will get your free prayer rug and burka with in the 90 day limit he promised.
if not, have you dh file a complint with the obama local security force.
post #3 of 14
Sharia forbids interest. But there's not much difference between 1% (the current fed funds rate) and 0%, is there?
post #4 of 14
Yep, with Obama as President the banks will be charging us to keep our money in the govt banks.

The country has started down that slippery slope. One good thing is, I am not just starting out, I am on the down side.
post #5 of 14
Doing business demands flexibility. If doing business with Islamic countries means that those business transactions be done in a way that doesn't violate their religious laws, I can't see any problem with that. It's not like the US Treasury is submitting to Sharia, as the OP contends. Besides, if they want to lend us money without demanding any interest, I really can't see why anyone would want to complain about that.
post #6 of 14
Sharia-Compliant-Finance has been around for a long time. Most major international banks have sharia-compliant-finance funds, the UK has been issuing sharia-compliant financial instruments for at least two years, and sharia-compliant mortgages have been available in the U.S. for some time.

http://www.connpost.com/ci_10876051
http://news.bbc.co.uk/2/hi/middle_east/5064058.stm

About 25% of the world population is Muslim. Sharia-compliant finance basically means that the contracts are written differently, but in today's capitalist world, the end result is the same. This is not about charity, it is about profits.

"Social Responsibility" type funds have been around for decades, and they are vehicles for Mormons and other "people of conscience" that do not want to invest in gambling, alcohol, etc.

It's about time the U.S. government caught up. It would provide another vehicle by which we can do business with Saudi Arabia, other Gulf states, Malaysia, Indonesia, etc.

You want us to ignore 25% of the world?

Laurie
post #7 of 14
Quote:
Originally Posted by LDG View Post
You want us to ignore 25% of the world?

Laurie
in this country YES i do
post #8 of 14
Quote:
Originally Posted by theimp98 View Post
in this country YES i do
Why?

Laurie
post #9 of 14
Thread Starter 
Quote:
Originally Posted by LDG View Post
You want us to ignore 25% of the world?

Laurie
Why do we need to owe anyone else any more of our money???? As if China owning most of our debt isn't enough....

IMO it's another step towards having our government taken over by another Country, just through the back door.
post #10 of 14
But it's the OTHER countries that are taking the risk when they lend us money. There's no danger of them taking over the US government. I think we have more power over them than they have over us. In the past we've frozen the assets of countries with whom we've had disputes. We could also freeze debt service. They'd be stuck with worthless Treasury paper. It's kind of like MAD - mutual assured destruction - from the Cold War era. If they try to ruin our economy, we could ruin theirs in return. Since they're taking the first step in buying our debt, they're actually taking the greater risk.
post #11 of 14
Quote:
Originally Posted by neetanddave View Post
Why do we need to owe anyone else any more of our money???? As if China owning most of our debt isn't enough....

IMO it's another step towards having our government taken over by another Country, just through the back door.
Cause we done spent a lot of $$ on Iraq.
http://www.washingtonpost.com/wp-dyn...702846_pf.html

The policy hasn't been "tax and spend" but "run up debt and spend."
Quote:
On the day President Bush was sworn in, the debt stood at $5.7 trillion. Less than eight years later, the it’s within days of having swelled $5 trillion dollars on his watch - an embarrassing milestone for a president who considers himself a conservative and an advocate of fiscal discipline.
http://www.cbsnews.com/stories/2008/...n4562416.shtml
post #12 of 14
Every time you fill your gas tank you are supporting Sharia.

And the article, which is a commentary in a conservative newspaper, says that treasury department officials will be learning about the type of banking used in Saudi Arabia. One of the richest countries in the world. Gosh, that kind of education will surely result in women being forced to wear burqas!!!!
post #13 of 14
Quote:
Originally Posted by 2dogmom View Post
Cause we done spent a lot of $$ on Iraq.
http://www.washingtonpost.com/wp-dyn...702846_pf.html

The policy hasn't been "tax and spend" but "run up debt and spend."
http://www.cbsnews.com/stories/2008/...n4562416.shtml
Yes. Yes. Yes. NO fiscal responsibility. Our children's children's children will be paying for W's policies. But then, "run up debt and spend" has been the cornerstone of our economy for years.

And I just don't understand all this fear-mongering about Obama as a closet Muslim. Since when?

Sharia is actually not a bad thing. But I don't think it would fly in a capitalist society because of the lack of interest charged, as another poster noted. Hey if they want to borrow money from us interest-free... uh, nope. If they want to LEND us money interest free - hey ,great.
post #14 of 14
Actually, my post was just a BIT facetious. Although they can't charge or receive interest, they do make money on their financial transactions. It's just structured differently so there's no interest involved. Or nothing they could technically call interest, anyway. I'm not sure of the exact details, but I do remember readiing about it and it was quite clear that there is financial gain.
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