The Contemporary Economic System and Islam

In today's world, we see that the number of people struggling with poverty, unhappiness, and future concerns is increasing. A person grappling with livelihood difficulties cannot generate new ideas or have the necessary conditions for self-improvement.

Meanwhile, the rich are getting richer every day. Small businesses like local grocery stores, greengrocers, and tailors are closing down, making way for large corporate firms. For example, a farmer who grows tomatoes on his own land is forced to make agreements with corporate companies to market his produce, and these companies determine the price of tomatoes, leaving the farmer with only a small profit or sometimes even a loss. The farmer is not allowed to market his own product profitably. This situation is observed in every sector.  

The Simple History of Economics

In the past, countries replaced the traveling merchants who brought goods with them by large corporate websites. These companies sit back and make profits ranging from 30-50% from product sales, while buyers and sellers suffer. Even local marketplace websites in small countries are bought by global corporations, transferring the values ​​of these countries into the pockets of capital owners. Insatiable! They act as if they have an infinite life.

In the past, trade was conducted with gold. People who couldn't protect their gold at home paid a fee to a few smart merchants in the city to keep their gold safe. These merchants gave them a piece of paper, a bank-note, recording the transaction. The term "banknote" comes from this, and it is considered the invention of money.

Then, as this trade spread internationally, international maritime trade began using "banknotes" printed by certain large families. Later on, national governments started making gold transfers for banknotes backed by gold.

However, due to potential risks, in 1944, the Bretton Woods Agreement fixed the exchange rate at 1 ounce of gold = $35. However, with the United States not adhering to this agreement and printing excessive dollars, the USD became dominant in the market. In France, the Bretton Woods system was referred to as 'America's outrageous privilege'. In February 1965, French President Charles de Gaulle announced his intention to exchange U.S. dollar reserves for gold at the official exchange rate. Subsequently, Germany and Switzerland left the system. U.S. President Richard Nixon, in a televised speech in 1971, announced that he was 'closed the gold window ', dealing a severe blow to the global economy. Did he do it himself, or was it orchestrated by the wealthy elite families? You know the answer. 

https://en.wikipedia.org/wiki/Nixon_shock     

Americans and citizens of other countries think of the USD as the currency of the American state. The Federal Reserve (FED) is composed of 12 families, and the total number of partners does not exceed 300. FED shareholders are all banker families. The US government does not even own shares in the FED. Bankers have divided America into 12 regions and share it among themselves. The Fed is printing trillions of American dollars without gold backing. It acts as a central bank, lending money to banks in America. Thus, dollars circulate in the American economy. The shareholders of the FED, 12 families including the Rockefellers, formulating the FED. FED shareholders, bankers and individuals make tremendous profits from interest without paying taxes.

The founders of the Fed consist of Zionist families including Rockefeller. Here are the mysterious families that founded the Fed: Rothschild family, Rockefeller family, Goldman Sachs family, Kuhn Loeb family, Warburg family, Lazard family, Moses Seifs family.  

After stocking up as much gold reserve as they could, an estimated amount of more than 20 times the world's gold reserves were printed without backing USD, and with these currencies, people's values were purchased. This shows how people's money in their pockets is stolen and it demonstrates how they use the taxes people struggle to pay for their own benefit. Now, there was plenty of gold in the vaults of the rich, and the next step was to seize the remaining gold and wealth of the world and, of course, they did this with a simple piece of paper. If we ever hear that this paper currency is being withdrawn from circulation and if one day we hear that the United States has established a new central bank and printed its own new currency, it wouldn't be surprising. ..

People have been so accustomed to this paper that they have forgotten what gold and precious metals are. But is it over? No, people's money is also being taken away through the vortex of the stock market and interest. Some people are unaware that what they think they earned in the stock market is actually a loss. So what's next? Surprise, "Virtual Money"...

Let's give an example: There is a trade bowl with 1000 gold in it, and there are 100 people there. In other words, there are 10 gold per person. Everyone takes gold from the bowl for the services they provide. The owner of the bowl also returns the gold to the bowl by providing other services in exchange for the gold received. Thus, everyone is offered the opportunity to earn. However, a few greedy people take 990 gold from the bowl and they deceive other people by putting paper pieces supposedly equivalent to gold instead of gold into the bowl. In this case, actually only 10 gold coins remain in the bowl, and a bunch of worthless paper, the remaining 95 people are trying to work with a small amount of gold and a bunch of paper. But if one day the greedy set fire to the bowl and the paper burned, what would remain? 10 gold, 995 people, and chaos...

Throughout history, due to the accumulation of capital in certain hands, various revolts and conflicts have occurred worldwide. Despite new regulations being put in place as a result, these individuals have managed to manipulate revolts in their favor again. Examples include the French Revolution (1789)...

What could they have done for money? They have controlled industries such as the arms industry, pharmaceuticals, energy, trade, and media. Through this control, they manipulate individuals and societies as they wish, even starting wars and sowing seeds of discord to make people dependent on drugs for their greater interests. Instead of producing drugs that would definitively cure human diseases, they preferred to make them addicted. And many more... Pages would not be enough for explain this issue. While these individuals act for their own interests with dulled eyes, they are actually cutting the branch they are sitting on...  

Islamic Economy...

However, in the Islamic economic model, anything must have a commercial counterpart to have commercial value. This model is based on a just and transparent economic system, which ensures that everyone receives their due and enhances the prosperity of society.

The Islamic economic model is entirely based on justice, transparency, and service. If we eliminate some instigators who want to harm Islam, abandon prejudice, and truly understand the Quran, we will understand this better.

During the time of the Prophet, there were various sources of revenue for the Islamic treasury, and the most important of these was zakat, which was collected annually at a rate of 2.5% from wealth and is obligatory for Muslims according to the Quran. Zakat is the right of the poor and needy within the wealth of the rich. Zakat is calculated annually and collected by the Islamic state and distributed to the poor and needy. It is applied at a rate of 10% for agricultural products. It was forbidden for the Prophet and his family to receive zakat and charity. The only recipients of zakat should be those mentioned in the Quran as needy.

“Zakah expenditures are only for the poor and for the needy and for those employed to collect [zakah] and for bringing hearts together [for Islam] and for freeing captives [or slaves] and for those in debt and for the cause of Allah and for the [stranded] traveler - an obligation [imposed] by Allah . And Allah is Knowing and Wise.” (Quran 9-60) 

Other sources of income in Islam apart from Zakat include leasing of state-owned land, mining, customs duties, donations (such as those collected for building schools, bridges, roads, etc.), fair taxes collected from non-Muslims, one-fifth of war spoils, etc. Public expenditures, military expenditures, salaries of officials other than Zakat officers, etc., were covered by these incomes.  

The duty of a piety Muslim is to imitate the Prophet and his companions. In a verse of the Quran related to spending, it says:

"They ask you about wine and gambling. Say, "In them is great sin and [yet, some] benefit for people. But their sin is greater than their benefit." And they ask you what they should spend. Say, "The excess [beyond needs]." Thus Allah makes clear to you the verses [of revelation] that you might give thought."(Quran Surah Al-Baqarah 2-219) 

Surplus...

For instance, considering piety in light of this verse, a wealthy individual has a business; after deducting the annual capital, tools and equipment, salary expenses, expenses for improving the business, and all kinds of needs for further employment, what remains and the earnings should be spent in charity for the poor. Similarly, an average-income person should also spend beyond their needs in charity.

Assistance to the poor and needy should not be limited to gambling or games of chance or the Zakat of the wealthy. It should be spread to a wider spectrum, encouraging individuals who have surplus in terms of personal and familial needs to donate food, clothing, and other essentials to the poor. If this broad source of charity is utilized, there will be no one left in society who cannot meet their basic needs, and such cases will become rare.

In the Ottoman period, there is a history related to stones called 'alms stones,' which you can find in almost every historical mosque courtyard. The wealthy would place their alms into these stones and leave. Poor individuals would then come to these stones, take as much money as they needed, and leave the rest for other needy people. The situation had advanced to such an extent that even a destitute person who received alms from these stones was no longer left. This exemplifies that when divine rules are followed, the welfare of people in this world increases, while the rewards in the hereafter are separate.  

So, what will you receive in return? God's pleasure, hopefully, pure happinest from orphaned children, the poor, and the needy, magnificent peace, and eternal paradise...

Let's conclude our article with a few examples from our Prophet.

During the time of the Prophet Muhammad (peace be upon him), guests would frequently visit to learn about the religion he preached. Among these visitors were significant figures. Bilal ibn Rabah (may Allah be pleased with him) began to collect dates to offer guests so that the Prophet (peace be upon him) wouldn't feel embarrassed, as often he could only offer water to guests. He would then become concerned that it might belittle him and his religion, causing distress and lowering his morale. When the Prophet (peace be upon him) discovered the dates Bilal had collected hidden behind a door one day, he asked where they came from. Bilal (may Allah be pleased with him) explained the situation, feeling embarrassed. Upon hearing this, the Prophet (peace be upon him) said, 'O Bilal, distribute these dates immediately! Don't you know that this religion is not about hoarding dates? Allah did not create you to hoard dates.'

Although Prophet Muhammad (peace be upon him) had the means, he never aspired to wealth and comfort but rather prepared himself for the hereafter.

The following narrative from Hz. Umar presents a striking example for contemporary Muslims:

One day, Hz. Umar quietly entered the room where Prophet Muhammad (peace be upon him) was resting and looked around for a moment. Inside, he found a few kilograms of barley in a dried leather bag hanging from the ceiling, a few tree leaves leaning against the wall, and the rough mat woven from palm fibers on which Prophet Muhammad (peace be upon him) was sleeping on the ground. Overwhelmed by this sight, Hz. Umar began to cry silently, and his sobbing woke the Prophet (peace be upon him). When he saw the marks on the mat left on the Prophet's body and noticed his skin had turned red, Hz. Omar continued to sob, shaking his shoulders. Astonished, Prophet Muhammad (peace be upon him) asked:

'O son of Al-Khattab, why are you crying?'

'O Messenger of Allah,' replied Hz. Umar, 'while the Persians keep their king in palaces and the Byzantines lavish their emperor with luxury and splendor, You, who are the Messenger of Allah, permit us...'

The Messenger of Allah interrupted Hz. Umar's words with a sad smile and a gentle gesture, and after reciting the verse 'This worldly life is no more than play and amusement. But the Hereafter is indeed the real life, if only they knew.' [Quran 29:64], he added:

'Do you not wish that, O Umar? Let them have this world, and let us have the Hereafter.'

It is clear from such examples that the Islamic faith is a beautiful religion that considers the welfare of its followers, from moral conduct to economic matters. Why, then, do some try to portray Islam negatively?