By Imran Akhtar Financially strong, secure, and reliable money

Money in the Quran Number of verses that directly reference money: Spend money in the cause of God Give money to charity Your money will not help you One beautiful verse says: GOD has bought from the believers their lives and their money in exchange for Paradise [9:111]. But these verses don’t talk about Sound/Reliable Money 2

Another concept about Money [11:85] O my people, you shall give full measure and full weight, equitably. Do not cheat the people out of their rights, and do not roam the earth corruptingly. [6:152] … You shall give full weight and full measure when you trade, equitably. … [7:85] … You shall give full weight and full measure when you trade. Do not cheat the people out of their rights. [11:84]… Do not cheat when you measure or weigh. 3

Verses from Quran (cont.) [17:35] You shall give full measure when you trade, and weigh equitably. This is better and more righteous. [26:181] "You shall give full measure when you trade; do not cheat. [83:2] Who demand full measure when receiving from the people. [83:3] But when giving them the measures or weights, they cheat. FULL WEIGHT and FULL MEASURE 4

Full Weight & Measure in Bible [Leviticus 19:36] Your scales and weights must be accurate. Your containers for measuring dry materials or liquids must be accurate. I am the LORD your God who brought you out of the land of Egypt. [Proverbs 11:1] The LORD abhors dishonest scales, but accurate weights are his delight. [Proverbs 20:23] The LORD detests differing weights, and dishonest scales do not please him. 5

Short History of Money Barter system involved trading one good for another I need rice, you need eggs, we swap Problem: requires a ‘coincidence of wants’, cumbersome Solution: use commodity money (like copper, gold, shells, salt, etc.) Metals emerged as money over commodities like cattle or shells Then Gold and Silver emerged from Asia to entire world as the most common form of money 6

History of Money (cont.) Savers deposited their Gold and Silver coins at goldsmiths. Received a note/certificate for their deposit. Once notes became trusted medium of exchange, an early from of paper money was born. As notes were used directly in trade, goldsmiths observed people would not usually redeem all their notes at the same time. Goldsmiths saw the opportunity to invest their coin reserves in interest-bearing loans and bills. 7

Fractional Reserve Banking Bank decides to keep only 20% on reserve For example, I deposit $100 at a bank Bank keeps $20 for reserves and lends out $80 The $80 is deposited in a bank, bank keeps $16 (20%) and lends out $64. This process continues until maximum total deposit created is $500 and the max increase in money supply is $400 8

Fiat Money Not backed by reserves of a commodity Money is given value by government decree US Dollar went off the gold standard in 1971 under Richard Nixon 9

Fast forward to Today Using Fiat Money and Fractional Reserve Banking, banks start giving very risky loans to earn more money. Loans fail, financial crisis. Central Bank prints more money to give to banks, creates inflation. Money printing is possible because of Fiat money, money not tied to any commodity 10

Honest Weights and Measures You worked for 4 hours, were given $100 When bank prints money, your $100 is worth less because money was created out of ‘thin air’, someone got money for free. An unlimited amount of money can be created this way. Full measure of 4 hours changed. [26:181] You shall give full weight and full measure when you trade; do not cheat. We are violating the Quranic and Biblical law! 11

Effect of Violation Inflation is very high in countries around the globe. Too much money printing causes entire countries to be destroyed and people lose all their wealth. US engaged in money printing, so we’ll eventually see inflation rise here too Zimbabwe and Argentina examples of too much printing. Zimbabwe the bread basket of Africa to basket case. Inflation hit 100,000% Zimbabwe bank issues $10million bill - but it won't even buy you a hamburger in Harare (Capital city) Revolutions in Egypt, Tunisia, Yemen caused by Inflation 12

High Inflation Inflation is a stealth form of Taxation CountryInflation rate annually Liberia11.2% India11.7% Sudan11.8% Iran11.8% Yemen12.2% Egypt12.8% Pakistan13.4% Argentina22% Venezuela29.8% At 12% inflation, $100 becomes $52 after 5 years 13

Beautiful Notes Not Worth Much Won’t buy a hamburger 14

Vietnam 500,000 Dong = $

Indonesia 100,000 Rupiah = $

Guinea 10,000 franc = $

Iran 50,000 Rial = $

Sao Tome and Principe 50,000 Dobra = $

Sound US Dollar Countless wars have been fought and countless people killed over currency control. The same inflation can happen to the ‘mighty’ US$ We should support people who stand for sound money. Of all the presidential candidates only 75 year old Dr. Ron Paul has been advocating sound money for the last 30 years. You want sound policies and a more peaceful Earth, look up this man! 20

Conclusion We should understand God’s laws on Sound/Reliable Money and follow them. Otherwise we bring untold suffering on the people Full Weight and Full Measure = Sound/Reliable Money [11:85] …You shall give full measure and full weight, equitably. Do not cheat the people out of their rights, and do not roam the earth corruptingly. [Proverbs 11:1] The LORD abhors dishonest scales, but accurate weights are his delight. 21