Iranian President Mahmoud Ahmadinejad told Obama to choose Israel or choose Iran: "The support of both Israel and Iran can't go hand and hand," he said. Obama has already chosen Iran. See an important video below.
Ahmadinejad spoke at the 25th Session of Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of the Islamic Conference (OIC), and the little banty rooster took capitalism to the woodshed. Going in the back door, he tried to pump up the drive for Shariah Compliant Finance in the U.S., indeed throughout the West, through his admonishment of capitalism. God forbid, we have the Democrats echoing him. Forget choosing between Israel and Iran. That little sound bite is a diversion - all of Achmidinejad's sound bites are diversions.
Addressing the same conference a day earlier, Ahmadinejad said that capitalist excesses caused the global economic meltdown and were un-Islamic, as leaders at a Muslim forum touted their religion's banking system a way to revive battered economies.
He also slammed investments that pay interest, deemed usury by Muslims, and said they had contributed to financial and social problems such as homelessness...
"Usury, which is entrenched in the capitalist system, is perhaps the main reason why the system has gone bankrupt," Ahmadinejad said. "It is a way of accumulating capital without working. Usury, according to the Koran, is fighting with Allah."One year ago, Frank Gaffney writing for the Washington Times, told us how it is happening in the U.S. with the Harvard Law School's Project on Islamic Finance leading the way.
The department [U.S. Treasury] is hosting a half-day course entitled "Islamic Finance 101" on Thursday at its headquarters building.
Treasury's self-described "seminar for the policy community" is co-sponsored with the leading academic promoters of Shariah and SCF in the United States: Harvard University Law School's Project on Islamic Finance.
At the very least, the U.S. government evidently hopes to emulate Harvard's success in securing immense amounts of Wahhabi money in exchange for conforming to the Islamists' agenda. Like Harvard, Treasury seems utterly disinterested in what Shariah actually is, and portends.
Unfortunately, such submission - the literal meaning of "Islam" - is not likely to remain confined long to the Treasury or its sister agencies. Thanks to the extraordinary authority conferred on Treasury since September, backed by the $700 billion Troubled Asset Relief Program (TARP), the department is now in a position to impose its embrace of Shariah on the U.S. financial sector.
The nationalization of Fannie Mae and Freddie Mac, Treasury's purchase of - at last count - 17 banks and the ability to provide, or withhold, funds from its new slush-fund can translate into unprecedented coercive power.From Australian Islamist Monitor:
SCF or Sharia Compliant Finance is now the hottest product in the financial markets around the world. Wall Street in America is on board big time with this Islamic Banking scheme, although you would think Wall Street would be more careful especially as they are still enduring the GFC (Global Financial Crises) and suffered badly after the 9/11 attacks on the World Trade Centre in 2001.
Ironic, isn’t it, that Al-Qaeda used funds derived from Sharia Finance to finance the terrorist act on America. But does Wall Street care? Not when your mantra is “Greed is Good”. It is estimated that the annual profits flowing into the Arab oil states is around one trillion dollars which means the Arab banks are awash with money.
As we will see, part of the profit of Sharia Compliant Finance must be paid as Zakat to Islamic Charities. Now it is up to a board of Islamic clerics to decide which charities are the beneficiaries of this money. [Zakat is paid by American banks instituting Shariah Compliant Financing].
Does the humanitarian side to Islam shine here and do we see billions going to feed the hungry in Sudan, or build infrastructure in Gaza and the West Bank to improve living conditions for the poor Palestinians? No, in fact it is exactly the lack of this humanitarian side which exposes the fraud in Islamic charity. Sadly, much of the money finds its way into the hands of terrorist organizations like Hamas or Hezbollah.From Human Events: Sharia-Compliant Finance Funds Jihad:
Turn your clock back 70 years. Imagine that Wall Street banks and brokerages sold Nuremberg-compliant bonds and stock funds in 1938. American Nazi sympathizers bought financial instruments certified by Berlin-based advisors as free of “Jewish profits” from, say, Salomon Brothers and Bloomingdale’s.
In turn, a percentage of such funds’ gains underwrote pro-Nazi charities, like the German-American Bund, and similar organizations in the Fatherland, like the Hitler Youth.
Seventy years hence, an analogous outrage grows on Wall Street, only this time for real.
Sharia-compliant finance (SCF) is expanding among banks and securities houses eager to absorb the hundreds of billions of petrodollars cascading into the Middle East, thanks to $100-per-barrel oil.
To lure this cash, financial companies increasingly offer vehicles that neither pay interest nor benefit from gambling, entertainment, alcohol, pork, or anything considered “haram” or “un-kosher” in Islam. Bahrain’s International Islamic Financial Market (IIFM) counts $97 billion in Islamic bonds in circulation with another $66 billion forecast through 2008 -- and SCF is not limited to the bond market.What is your bank doing? I plan to find out about mine.
SCF goes far beyond marketing to Muslims and Middle Easterners. IIFM lists “wider sharia acceptance” among its goals. Selling sharia-compliant investments legitimizes a barbaric theocratic orthodoxy that should be defeated, not promoted.
From the Tehran Times:
Assets held by fully Shariah-compliant banks or Islamic banking windows of conventional banks, rose by 28.6 percent, to $822b from $639b in 2008.From Shariah Finance Watch:
Shariah-compliant Finance Helps Terrorist Banks in Iran:Shariah-compliant financing, funds terrorists. It is really, really simple:
If ever there was evidence of the sinister nature of Shariah-Compliant Finance, it can be found in Iran.
Iran is the world’s foremost terrorist-sponsoring nation, a country which sponsors Hezbollah, HAMAS and Al Qaeda.
Iran also supports the Taliban with weaponry in their fight against NATO forces in Afghanistan. And it is common knowledge that Iran is the principle supplier and training ground for insurgents in Iraq.
...a boom in Islamic financing has added much-needed ballast to banks' bottom lines. Iranian banks now hold $235bn of sharia-compliant assets, which makes up 37.5% of total sharia-compliant assets worldwide.The Australian Islamist Monitor turns the 2.5% zakat (donation to Islamic charities) into something easily understood: one dollar in very $40 dollars earned - goes to Islamic countries to support their
In fact, The Banker's Top 500 Islamic Institutions ranking, published last October, shows Iran has more Islamic assets than all other countries and its banks account for six of the top 10 Islamic institutions worldwide. Bank Melli Iran has the most sharia-compliant assets in the world at $48bn. The others in the top 10 are Bank Saderat Iran, Bank Mellat, Bank Tejarat, Bank Sepah and Bank Keshavarzi.
Shariah-compliant credit cards - see information here. You don't even have to be Muslim to have a Shariah-compliant credit card. You can fund jihad when you buy your groceries. MasterCard and Visa process these cards.
Thanks to ACT! for America for the video