SATANIC FINANCE: THE KEY FACTOR OF GLOBAL ECONOMIC ISSUE

‘Coincidence’ is a myth. There is no such thing as a coincidence. There will always be a captain for every economic cruise, including the crisis tragedy in 1997. In that case, Satan (or satanic human) is in charge.

Even though the main idea of this book is actually based on verses in Abrahamic religion holy books, e.g. Bible, Torah, and Koran, Dr. Ahmad narrates his argumentation from the perspective of Satan, which is so scintillating. Thus, instead of preaching, he gives the reader the experience of witnessing Satan’s confession.

Satanic finance itself refers to a deceitful practice on controlling economic system which was based on 3 elements—Dr. Ahmad names them as 3 pillars of evil. Those are fiat money, fractional reserve requirement, and interest. These elements are sourced from greed, which is a characteristic owned by Satan or a human possessed by satanic whisper.

By the story of Sukus and Tukus, Dr. Ahmad tells how those elements initiate chaos in human lives.

It is told that Sukus and Tukus were two peaceful villages where the inhabitants lived in harmony, solidarity, and generosity. They worked for a living by farming, fishing, crafting, and small-gold-mining. In fulfilling their needs, they exchanged their crops with the stuff they needed. Only after the village leader, Saka, molded coin out of gold that the villagers had one particular transaction medium.

One day, there came two voyagers with gallant look, Sago and Gago. They showed the villagers some golden coins they collected from villages they have visited and a sheet of paper called as money—later called as fiat money—that has been used in their place. They explained about the efficiency of money-based transaction and personally approached Saka to apply money in the village daily transaction by granting him fame as his face would be printed on the money. Deceived by momentary illusion of fame, Saka made Gago and Sago’s wishes come true.

Sago and Gago then distributed each villager 100 pieces of money as debt and they charged extra 10% of money—later called as interest—for the paying the service they have provided. Although Sago and Gago also had 100 fiat money for each, it was impossible that their share could cover all the extra money should be paid back by the villagers. Hence, when the debt payment due, there are some villagers could not pay the debt. Even if each villager could keep their 100 fiat money, they still could not pay the interest, because the extra money asked by Sago and Gago were actually never issued.

Meanwhile, fractional reserve requirement was related to deposit that people have in Sago and Gago. They realized that most people would only withdraw 10% of their saving in one time, so they issue the remaining 90% as debt for other and each debt is subject to 10% interest, which means, creating new money out of nothing.

In economy, there are two significant sectors that should support each other: real sector and monetary sector. Any changes in monetary sector shall automatically result in changes in real sector. Simply, the number of money affects the number and price of goods, and vice versa. If the number of money issued cannot be followed by the increase in the number of goods, the price shall increase—later called as inflation.

The inflation is worse if the interest policy is applied as it will increase the number of money circulating and make more people default in paying their debts. In case of default, there will be transfer of assets from the creditor to the debtor, which results in more poverty. And when the real sector has reached its full production capacity, while the number of money will keep growing, the economic balloon will surely explode. And this was what happen to the 1997 crisis in ASEAN.

In a nutshell, several people having control to the global financial institutions really understand that the 3 pillars of evil are designed to make victims, and ASEAN is just one example of it.

Meanwhile, the problem with fiat money is that it does not have any intrinsic value and is deemed worth only because it is issued by controlling government. It means that when the government is no longer trusted, the value of its fiat money will be depreciated. That’s why money in the form of metal like silver (Dirham) or gold (Dinar) are highly recommended by Koran, as it has intrinsic value that is considered stable.

The same idea about fiat money and fractional reserve requirement as the source of economic instability have been deeply described in a documentary movie ‘Zeitgeist: Addendum’ made in 2008 by non-profit organization, Zeitgeist Movement. The organization advocates a transformation of society and its economic system to a non-monetary system based on resource allocation and environmentalism.[1]

The difference is on the solution proposed. The Zeitgeist Movement plans to change the global socioeconomic system and invite people to ban most powerful banks in Federal Reserve System, big press media, military, energy company, and politics, and support the Zeitgeist Movement.[2]

Meanwhile, this book accentuates that Koran has long provided the best economic system by using gold and transaction medium and prohibiting ‘riba’ or interest.

Source:

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

https://id.wikipedia.org/wiki/Zeitgeist:_Addendum

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