They need Fiat because of exponential growth. Only Fiat (paper or electronic) can fulfill that cancerous desire. It is a big mistake to think that Fiat money can be seperated from the economic philosophy that created it, Fiat is not a neutral tool, like the nuclear bomb, you cant make it islamic, because it is not neutral, it is value laden, it is a product of a Faasid and Mufsid (rosak dan merosakkan) aqidah & worldview, for the nuclear bomb one of them is social darwinism whereas for Fiat it is the hidden hand , exponential growth , resources are scarce and human needs are unlimited etc, from this came fractional reserve banking, seignorage, credit economy etc, its lifeblood is none other than Fiat. Proper Fiqh on this issue is to take all these into serious scrutiny; the philosophy, the objective of creation, the history of zulm it brought together with the thing itself. I have written a small book on this issue, I invite serious seekers for a discussion. Please PM me if you are interested.
Posted on: Sat, 22 Nov 2014 04:35:30 +0000
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