Friday, January 26, 2007

The Gold Standard in writing

I tried to read this because it seemed there might some meaty analysis of the our parlous state from the Muslim point of view. Oh my God!

"From the 1950s onwards, the oligarchs who had underwritten the long war began to stake their claim. It was a brilliant move and utterly successful. What they said sounded so good. “The government’s job is to govern-but the markets must be free to adjust and develop their processes without state intervention.” In one move on the chess-board, the political ruler, assuming he was inside the democratic system, that is, playing by the rules of the game, had been check-mated. Political power had been stripped of its very motor-force, wealth. Politics itself had become a service industry. The financiers determined the value of the currency. They determined the complex taxation practices. They allotted the political state its budget. In many cases, they determined in detail on what that budget should be spent."


"It is not, of course, sustained by magic, but by the anxiety of debt, which makes man blind. The split in the wealth system is that while at the present time it has taken complete control of the world’s commodities, that is to say, everything that has come out of the ground, its hold on that wealth is sustained by the pseudo-wealth it has created with a world system of ‘national’ currencies which are in themselves utterly worthless. In short, base-metal coins, paper notes, and numbers transfer which only exist as electronic signals passing from computer to computer-none of this has either substantive reality or value."


Give that man an honorary Economics MSc and an honorary Political Science MSc! But wait for the coup-de-grace-

"The great financial systems of the past, based on the usage of gold metal, created the great civilisations. The current financial system, based on electronic numbers and the world credit systems’ gold plastic cards, has in our lifetime destroyed our continuity with these past civilisations and plunged us into the current ecological and biological disaster-area called modern life."

We are doomed because we don't use gold coins any more. Got it. Thanks.

*** NB I found this by googling the word 'Kuffar'. Have a go, there's not telling how much fun you can have :-)

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