The New War

In order to try to save the dwindling world economy – a war will be started in 2009.  My guess it will be between India and Pakistan.  The world is changing quickly.  Keep your eyes open as things will change quicker then you think…

Post-Christmas Depression

Wow.  It is hard to believe that the Christmas season has come and gone so quickly.  I barely had time to recover from Thanksgiving then suddenly Christmas was here and gone.  I vow next year to savor this time of year even more then I did this year.  I vow to take it easy, slow down, and meditate on the wonders of the love of God.

The Global Crash = Islamic Economic System

Im not saying 100% that this will happen in the future.  The future is very tricky to predict as those in the past can attest to.  We do know a couple of things for sure though:

1)  The current economic crash is much greater in depth and width then we had first thought.

2)  The globe is in a season of transition.  Things are changing quickly as the nations are shaken. 

3)  There are certain types of economic systems that are staying, for the most part, steady during these unstable times.

4)  The Islamic Banking System is one of those systems that are enduring.

Below is an article I read recently in regards to this.  I find it very enlightening.

Islamic Banking: Steady in Shaky Times

Principles Based on Religious Law Insulate Industry From Worst of Financial Crisis

By Faiza Saleh Ambah

Washington Post Foreign Service

Friday, October 31, 2008; Page A16

JIDDAH, Saudi Arabia — As big Western financial institutions have teetered one after the other in the crisis of recent weeks, another financial sector is gaining new confidence: Islamic banking.

Proponents of the ancient practice, which looks to sharia law for guidance and bans interest and trading in debt, have been promoting Islamic finance as a cure for the global financial meltdown.

This week, Kuwait’s commerce minister, Ahmad Baqer, was quoted as saying that the global crisis will prompt more countries to use Islamic principles in running their economies. U.S. Deputy Treasury Secretary Robert M. Kimmet, visiting Jiddah, said experts at his agency have been learning the features of Islamic banking.

Though the trillion-dollar Islamic banking industry faces challenges with the slump in real estate and stock prices, advocates say the system has built-in protection from the kind of runaway collapse that has afflicted so many institutions. For one thing, the use of financial instruments such as derivatives, blamed for the downfall of banking, insurance and investment giants, is banned. So is excessive risk-taking.

“The beauty of Islamic banking and the reason it can be used as a replacement for the current market is that you only promise what you own. Islamic banks are not protected if the economy goes down — they suffer — but you don’t lose your shirt,” said Majed al-Refaie, who heads Bahrain-based Unicorn Investment Bank.

The Fall of the Almighty Dollar

My New Blog

This is the start of my new blog. I recently ran a different blog but when it got hacked I decided to delete it and start over. I hope you will find this enjoyable, provoking, encouraging and enlightening.