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Topic: Interest

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- moi
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Interest
OP - June 04, 2016, 03:30 PM

Reading "the reckoning" by Jacob soll.

It seems that Islamic systems are basically pawnbrokerage systems that were replaced in the west with the rise of capitalism by credit systems - basically an invention to "account" for actions.

Credit is only a tool to let someone have money on a contract that means they can repay it over time and pay you for the privilege of using someone else's tool - the money.

So why on earth did Islam get its knickers in a twist about credit and not the invention credit is a development of, money? Technically Islam should have made money illegal!

When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it.

A.A. Milne,

"We cannot slaughter each other out of the human impasse"
- Ursus
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Interest
Reply #1 - June 04, 2016, 10:27 PM

I guess it could be a random remark from Mo, regarding someone he owed money, and who were a bit tough with the interests.
(Kings and the like always pay high interests. They are notorious for being bad creditors)

And casual remarks from someone who is considered a prophet, has a tendency to linger.
Think of the mormons: the prophet mentions that "late 18th century long sleeved underwear is really practical " and presto, they have been wearing "holy undies" ever since!
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