Negative interest rates

[zulaika]

We live in a world wired for "interest", that famous Hadith of dust of riba falling on the least involved in its trap couldn't be more true.

Nothing confuses more than the world of finance. I am always looking for ways to save money, invest better etc, and I hate banks and financial "analyst"..its dog eat dog world.. I'm always sceptical and every time I hand over my money to "invest"(in small increments), I literally think it's the last time I see it before it's lost to bad performance, market this, oil prices that etc. So my frustration continues...

Now, in light of this "negative" interest talk that supposedly will come to our shores, I understand it's currently between central banks and commercial banks, but I'm wondering when this will take effect to hit the average Joe and the little coins we have saved up is robbed.

The financial experts of Snet, your thoughts...please and thank you!

http://www.financialpost.com/m/wp/blog. ... fear-death

[Hyperactive]

fah posts this topic and i am sure i read your response


best way to invest your money is buying property. a year ago i bought a house and now if i sale it, i get at least 20 000 profit.

i know it's hard to avoid riba. i even feel wiswis about my salary.

http://www.somalinet.com/forums/viewtop ... 8&t=374354

[Strategic]

welcome zulaika cadey!

[Gaashaanle1000]

The reasoning I think behind negative interest rates is so that people go out and invest, buy and generally bump up the economy in order to get things moving again. More loans will be made and if invested properly more jobs created. It is to stop you from keeping the fake fiat currency in those criminal institutions we call banks.

But the truth is that the whole economic system is corrupted and soon to implode. For one the whole concept of fractional reserve banking whereby money is printed from thin air or La La land with added interest is day right robbery. Debt is built into the system, money is debt and debt is money. Most of the so called money in the market is credit which is a result of debt and I owe you, with the lender gaining and the borrower being in liability. In the end those rich banking family dynasties are the ones who win, as they own the system. We basically live in a modern day feudal society built around fake constructs and comforts. This is the reality!

My advice is to get out of the system if you can. Buy land and live of the land, become self sufficient, the world is bigger than the concrete jungles and indoctrination systems we are trapped in. This is indeed my goal, and In Shaa Allaah I will achieve this!

[zulaika]

fah posts this topic and i am sure i read your response


best way to invest your money is buying property. a year ago i bought a house and now if i sale it, i get at least 20 000 profit.

i know it's hard to avoid riba. i even feel wiswis about my salary.

http://www.somalinet.com/forums/viewtop ... 8&t=374354

I did not know of FAH's post, I don't recall seeing it or replying.. But thanks for the link, there's good input.

Honestly planning for the days ahead financially is getting murky.. Tried and tested methods are constantly challenged by manipulation of those who really control the system.

Good to know you had sucess with real estate.....may I ask how you "avoided" riba in the financing of the property you bought.

[zulaika]

welcome zulaika cadey!

Thanks walalo

[Hyperactive]

i got from my dad and mom some help too. that was the condition to have property. isnt easy to get to your country for some one from middle east.

[zulaika]

The reasoning I think behind negative interest rates is so that people go out and invest, buy and generally bump up the economy in order to get things moving again. More loans will be made and if invested properly more jobs created. It is to stop you from keeping the fake fiat currency in those criminal institutions we call banks.

But the truth is that the whole economic system is corrupted and soon to implode. For one the whole concept of fractional reserve banking whereby money is printed from thin air or La La land with added interest is day right robbery. Debt is built into the system, money is debt and debt is money. Most of the so called money in the market is credit which is a result of debt and I owe you, with the lender gaining and the borrower being in liability. In the end those rich banking family dynasties are the ones who win, as they own the system. We basically live in a modern day feudal society built around fake constructs and comforts. This is the reality!

My advice is to get out of the system if you can. Buy land and live of the land, become self sufficient, the world is bigger than the concrete jungles and indoctrination systems we are trapped in. This is indeed my goal, and In Shaa Allaah I will achieve this!

Walahi you're right. But it's not easy to exit the system and not suffer a bump along the way... living off the land is no longer self contained outside of the system.

Best of luck with your goal, I hope you achieve it inshallah.

[zulaika]

Hyper you're in Canada? wow, welcome huuno

[Hyperactive]

not yet sister. inshallah later this year. but i got my legal papers.

[gegiroor]

fah posts this topic and i am sure i read your response


best way to invest your money is buying property. a year ago i bought a house and now if i sale it, i get at least 20 000 profit.

i know it's hard to avoid riba. i even feel wiswis about my salary.

http://www.somalinet.com/forums/viewtop ... 8&t=374354

My wife knows this home buying business more than I and she always tells the same thing. I am very conservative when it comes to investing and don't take risks, but she explains to me it is the least risky because if you don't flip the houses in a good economy in order to make a profit, you can always rent it and earn money through that way while you have your equity as well.

Great advise Hyper

[Hyperactive]

gegi, my fear is in haraam iku so gabato. even kuwa islamic bank yiraah i dont trust. my guts tells me otherwise. haraam tabar uma hayo. dambigeygi kala ba ika batay.

[jamal9]

not yet sister. inshallah later this year. but i got my legal papers.

if you need a gun, let me know. since you're snet mod, I will give you 15% discount. most of the Imams in somali masjids in t.dot are OGs, so you will feel at home, Mr BigFeet

[gegiroor]

gegi, my fear is in haraam iku so gabato. even kuwa islamic bank yiraah i dont trust. my guts tells me otherwise. haraam tabar uma hayo. dambigeygi kala ba ika batay.

Hyper, if from what I was told is correct, some of these so-called 'Islamic banking' in the West is owned by people of the Bahai faith. They have elements of Islam in their beliefs but don't care about the interest part since they are not Muslims. They know that many Muslims don't want to pay interest, so they prey into their fears, telling them that it is compliant with sharia when it isn't.

Also, the largest so-called 'Islamic banking' in the US, the Guardian Financial, resells the homes they finance to Fannie Mae; therefore, there is nothing Islamic about the homes they finance. One expert that I talked to in Guardian in 2008 told me that they're required by law to state in the mortgage statement that they send to customers on how much of their payment is going to the principle and how much is going to interest. Even when they tell the Muslims, who finance their houses through them, that it is an interest free, the escrow account statement would state the part they call a profit as interest. In reality, it is no different from the mainstream banking systems.

[Gaashaanle1000]

gegi, my fear is in haraam iku so gabato. even kuwa islamic bank yiraah i dont trust. my guts tells me otherwise. haraam tabar uma hayo. dambigeygi kala ba ika batay.

Hyper, if from what I was told is correct, some of these so-called 'Islamic banking' in the West is owned by people of the Bahai faith. They have elements of Islam in their beliefs but don't care about the interest part since they are not Muslims. They know that many Muslims don't want to pay interest, so they prey into their fears, telling them that it is compliant with sharia when it isn't.

Also, the largest so-called 'Islamic banking' in the US, the Guardian Financial, resells the homes they finance to Fannie Mae; therefore, there is nothing Islamic about the homes they finance. One expert that I talked to in Guardian in 2008 told me that they're required by law to state in the mortgage statement that they send to customers on how much of their payment is going to the principle and how much is going to interest. Even when they tell the Muslims, who finance their houses through them, that it is an interest free, the escrow account statement would state the part they call a profit as interest. In reality, it is no different from the mainstream banking systems.

The whole system is corrupt and criminal, so how can anything good come out of it? How can anything Islamic run in a system built entirely on fairy tale money and interest?

This is what I don't understand, either people do not know how the economy works or they are willfully being ignorant. It is an oxymoron to say Islamic banking with no interest in the current monetary reserve fractional banking system can exist or be viable in any way shape or form!