"The
world with its billions does not have too many people, but it does have too
many in their thousands who think that they are worth a million others."
Barely
a year after European governments and the IMF had lent Greece $156bn to lighten
its debt burden; Europe is now embroiled in a new debt crisis. The magnitude of
this crisis is such that it threatens to engulf some of Europe's biggest
economies such as Spain and Italy. The debt 'contagion' is not limited to
Europe alone. Across the Atlantic, sees America a country that once boasted a
50 percent share of the world's GDP, controlled 75 percent of the world's gold
and once a creditor nation, is now on the brink of default at a time when
politicians on both sides of the political spectrum fail to agree on raising
the US debt ceiling that is currently set at $14.3 trillion. The convergence of
these two debt crisis has once again brought to the fore the prospects of
impending global economic collapse.
Yet
again, it is the intransigence of the super rich unwilling to share their
wealth that is heralding another economic collapse. In the aftermath of the
global financial crisis in 2008, the super rich were able to manipulate
governments to undertake actions and enact laws that legalized the daylight
robbery of ordinary citizens. Western governments were quick to bail out debt
laden banks, with billions of dollars of tax payers' money. Without any
consideration for the laymen, governments aptly converted the private debt
incurred by the super rich into public debt by moving it off the balance sheet
of troubled banks and onto the balance sheet of governments. In a further bid
to protect the material interests of the super rich, governments engaged in the
printing of money. This swiftly led to devaluation currencies around the world,
and heaped misery on the people through the rapid rise in the price of basic
commodities and services, which most could not afford. The super rich, on the
other hand, were shielded from the effects of currency debasement, through
their immense wealth and their ability to convert cash into tangible goods.
Three
years on, the super rich are again manipulating the political class, the media
and the financial institutions to safeguard their wealth at the expense of
peoples and nations. For instance, at the heart of Europe's economic woes is in
the reluctance of the super rich to write off debt owed to them by countries
like Ireland, Greece, Italy, Spain and Portugal. The super rich would rather
see countries indebted to them, paying exorbitant interest rates and their
respective populations stripped off wealth, than the cancellation of debt
payments and a reprieve for indebted countries to recover.
Likewise
in America, it is the super rich that are demanding that the American public
must pay for their economic mismanagement and excessive lifestyles. Both the
Democratic and the Republican parties are vying with each other to protect the
interests of the super rich. Cutting fiscal spending, reducing taxes or a
compromise between the two parties will no doubt save the wealth of the super
rich, but it will gravely hurt the majority of Americans.
Since
the rest of the world is dependent on the West and its financial institutions,
billions of people will suffer more than the average westerner.
The
monopoly of the super rich over the world's wealth, treasures and resources
exists only because there is no other ideology to challenge their greed and
hegemony. Islam is the only ideology in the world that categorically forbids
the super rich from hoarding their wealth. Allah mentions in Surah Al Hashr a
translated meaning of which is:
"And what Allah restored to His Messenger from the people of the
towns - it is for Allah and for the Messenger and for [his] near relatives and
orphans and the [stranded] traveler - so that it will not be a perpetual
distribution among the rich from among you. And whatever the Messenger has
given you - take; and what he has forbidden you - refrain from. And fear Allah;
indeed, Allah is severe in penalty."
[Al-Hashr: 7]
Only
in the Khilafah state you will find the super rich are unable to hoard and are
forced to share their wealth with the people through a variety of economic
rules based on Islam. In this way, all the citizens of the state are not
deprived of the basic necessities of life and have an opportunity to live
prosperously.
Or,
See
this Link:
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