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From: "john courtneidge" <[EMAIL PROTECTED]>
To: [EMAIL PROTECTED]
Subject: Best News of 99 Arrives - just in time!
Date: Fri, Dec 31, 1999, 1:58 PM
Dear Friends, all,
(Apologies to any that dislike multiple cc's, but this news seems
mega-important.)
First of all, my love to you all.
Secondly: my thanks to all, for all their postings of the year.
Finally, the following is a Letter To The Editor about the news:
'that Pakistan's Supreme Court has ruled "interest un-Islamic" '
and
' "the country must introduce an interest-free economic system
by 2001." '
Wow!
Thanks to all who helped bring this about.
Abundant hugs
j
**************
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From: "john courtneidge" <[EMAIL PROTECTED]>
To: [EMAIL PROTECTED]
Subject: <no subject>
Date: Wed, Dec 29, 1999, 3:45 PM
Could you please consider the following as a Letter to The Editor?
Thanks
STARTS
Canada and the whole developed world should study the Reuters' news report
('The Toronto Star' A35, Friday December 24, 1999). This tells us that
Pakistan's Supreme Court has ruled "interest un-Islamic" and "the country
must introduce an interest-free economic system by 2001."
Since charging interest on lent money is a cost on production, and,
therefore, a barrier to job creation and economic well-being, Pakistan, and
all those countries which follow this lead, will have a significant economic
advantage.
The mechanism of compound interest ('riba' in the Muslim world) was, in both
Jewish and Christian traditions, entirely forbidden before its legalisation
by Henry VIII in 1545 ( Psalm 15 in the Old Testament, Luke Chapter 6 in the
New, and Verse 65 in the recently excavated Gospel of Thomas, are worth
reading in this context.)
The exponential nature of compound interest was recognised by both Napoleon
and by Einstein as the root cause of war, poverty and distress. More-over,
this exponential math diverts resources away, not only from the poor, but
from middle income families too. This is why 450 people in the world own
more than the 3billion poorest, and that the net effect of interest is to
impoverish all but the most wealthy 10-15%, even in a country as wealthy as
Germany.
If we in the Western world don't follow the Pakistani lead, we will find
ourselves falling prey to these ills in the Twenty-First Century, as the
economic advantages of interest-free economics show them selves: our present
life-styles will slip into mass poverty, insecurity, crime and fear.
However, the solution, for us, is straight-forward.
Our Public Libraries show that the community can operate an 'interest-free'
lending system where books, and so on, are available, free of loan charge
to responsible borrowers, all overseen by professionally trained, Public
Service librarians.
One can easily see a Public Service Banking system, lending interest-free,
overseen by Public Service Bankers. Such a service would retain global
competitiveness and create economic well-being for all.
Now, wouldn't that be a gift to the next generations!
ENDS
Dr John Courtneidge
<[EMAIL PROTECTED]>
107 Golden Avenue, Markham, Ontario, Canada
(905) 471 0320
