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Wednesday, 12 November 2014

Western banking is run on usurious principles and no Western politician is prepared to consider running it on Islamic principles






I should also mention that I asked what he thought of Islamic banking. He responded by saying that Muslim countries were basket cases (or words to that effect) and gave me a long list of Muslim countries he thought were basket cases. I interrupted him by saying that I was not asking what he thought of Muslim countries but about Western economies run on non-usurious principles. His response was that it was not his business to think about things that are unlikely to happen. I further asked him he thought was the evil the prohibition against usury was intended to discourage. He answered correctly, saying that it was to prevent the rich (eg bankers) from having all the money and using their leverage to oppress and exploit their borrowers. Then he said "Anyway ... " turned on his heels and headed towards the gents, I think.  I thanked him for giving me his time.  

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