Posts 365+2Q

10 Jul

1) Al Malhama Al Kubra: The Great War ….. LINK 


Hadith on #Jordan River ====>> LINK 

Nahik Ibn Suraym Al-Sakuni (ra) relates that the Prophet (saw) said, “You will fight the pagans until the remnant of you fights on the river of Jordan, you to the east of it (present day Jordan) and they to the west of it (occupied Palestine)”. (Ibn Hajar Al-Asqalani)


“let the banks fail” ====>> #banking ….. LINK 

When Iceland’s President Olafur Ragnar Grimmson was asked whether or not other countries – Europe in particular – would succeed with Iceland’s “let the banks fail” policy, he stated the following:

“Why are the banks considered to be the holy churches of the modern economy? Why are private banks not like airlines and telecommunication companies and allowed to go bankrupt if they have been run in an irresponsible way? The theory that you have to bail out banks is a theory that you allow bankers enjoy for their own profit, their success, and then let ordinary people bear their failure through taxes and austerity. People in enlightened democracies are not going to accept that in the long run.”


Nixon Shock and its impact on monetary policy …….. LINK 

Debate over the Nixon Shock has persisted to the present day, with economists and politicians across the political spectrum trying to make sense of the Nixon Shock and its impact on monetary policy in the light of the financial crisis of 2007–08. Conservative columnist David Frum sums up the situation this way:

5) What is Sovereign Money?
And why a transition from bank money to sovereign money is the obvious next step in modernising the monetary and banking system …..
sovereign money VS bank money =====>>  LINK 
For a better understanding of what sovereign money is and what it implies, it is useful to compare it with bank money, i.e. the present system of fractional reserve banking. Normally, bank money is as liquid as sovereign money, i.e. available any time on demand. But sovereign money does in fact exist; it is the safe property of the customer who owns the money. Bank money, by contrast, does not exist. Demand ‘deposits’, strictly speaking, are not money, but a claim on money, a claim on having paid out cash, or having transferred such ‘deposits’ on demand. Bank money is unsafe and unstable. In a banking crisis, money in a bank account may disappear. Bank money, as monetary theory rightly states in this regard, is but a money surrogate we use as if it were money, in fact a cash debt, a liability of the bank to the customer. …..

(N.B. updated upto 2 July, 2015 from the very beginning, done on 10 July, 2015)

Leave a comment

Posted by on July 10, 2015 in Uncategorized


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: