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Old 10-18-2011, 07:16 PM   #15
floadaVonfoli

Join Date
Oct 2005
Posts
417
Senior Member
Default


I think we have discussed this issue before when I was talking with our old br. celt. islam, laughinglion etc.. about the fiat money and the shar'i concept of thaman urfi.

essentially can one of your post in bullet form why should the current currency not be counted as viable shar'i means of transaction. That will save me some time.

i am not too sure myself and made this thread so i can explore details with the other members. i dont even understand fiat currency in detail, i just have a loose idea of it. ( i dont think we are meant to be able to understand it in detail!)

from what i know the whole system is based on riba. without riba the system of fiat currency cannot survive. the 'money' is created by giving out loans (which do not actually exist and are just an idea or a promise) and then interest is paid on these (non-existant) loans.....and this somehow created money (lolwut!)???
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