7 Economic Decolonization: Anti-Sanctions League

BUILDING AN ISLAMIC ECONOMY

A healthy economy

Government intervention in the market – Socialism

Minimum wage

Allah has made business halaal, and riba haraam.

Business must involve the element of risk, profit or loss.

The bank imunizes itself from loss.

When the economy is based on riba, wealth will no longer circulate through the economy.

REDISTRIBUTION OF WEALTH

Wealth is circulating only among the wealthy

For that is Allāh, your Rabb, the Truth. And what can be beyond truth except error? So how are you averted? [Sūrah Yūnus: 32]

Everything is valued by how you use it – Based on the values

Usury and interest

When the Christians do it, its not usury

When they do it, its not a crime

They are ruthless, savage and barbaric – Why?

The growth of debt relative to output or income ?

Ponzi scheme – lend more money against real estate

Debt money used to inflate property prices.

Consumer debt is a small part of the debts.

SOCIAL MEDIA

Diffusing information

Corporations control them – They don’t have to uphold free speech

They are losing control of the narrative.

They don’t pretend to care as much as they used to.

New economic vision

Capitalism believes in the concentrations of wealth. Trickle down economics. Privatization.

Not divinely inscribed.

Economic of cooperation. It’s not about eliminating your competition.

Subverting Economies: The weakness of the Global South has nothing to do with market forces

The militarily powerful states have many tools at their disposal to coerce weaker states into complying with their rapacious demands.   The UN estimates that some $2 trillion are transferred annually from the “Third World” to the West through unfair trade practices and interest on loans.  Whenever a leader in a “Third-World” country attempts to implement policies to benefit his people, he is overthrown in a military coup and often assassinated.  Afghanistan, Iraq, Libya, and Syria offer ready examples. Millions have been killed and tens of millions turned into refugees.  After suffering decades of colonialism, most of these states do not have stable institutions and are easily manipulated.

How To Move Away From The US Dollar?

The third and probably most important aspect to consider is that the dollar’s demise is a process, not an event, unless there is a cataclysmic event such as a world war involving nuclear weapons.

Thus, it can be reasonably argued that as US hegemony is eroded and a multipolar world order becomes a reality, the US dollar will not enjoy the same status as it did during the hay-days of US power projection. This is almost becoming a mainstream conclusion now.

While the general parameters regarding erosion in the dominance of the dollar are widely discussed, the specific mechanics of what needs to be done to disarm Washington from utilizing its currency as an economic weapon is rarely debated in depth or plain language.

Currency is supposed to be a medium of exchange to facilitate trade. If one currency becomes dominant as a medium of exchange, its popularity, usage, and strength grow because global demand for it increases. Therefore, for other currencies to begin to neutralize the weaponization of the US dollar, trade between regional countries using local currencies must become more widespread. This will automatically increase demand for non-dollar currencies. For trade to grow, participating entities must produce goods and services which trading parties need.

The US regime has set up a global financial system where international trade, which is an essential part of a modern economic system, cannot take place without some exposure to the US financial system. Ironically, it is this feature of US policies which is contributing to the long-term weakening of its currency. The overuse of sanctions and other economic warfare tools are motivating powerful economic players to look for ways to decrease dollar exposure.

America’s state institutions know that if mass scale trade between vital economic sectors shifts to other currencies, the dollar will be marginalized. Considering the US political and economic track record, it is not far-fetched to conclude that if a significant portion of mass scale businesses turn to other currencies to settle transactions, they will face the full brunt of the US financial system via its laws and regulations.

Thus, it will be difficult for vital industrial scale businesses of developing economies to openly ditch the dollar. They will face politically driven pressures which will render them economically non-competitive.

It is easier to operate an economic system beneath the American financial and economic radar via small- and medium-sized enterprises. The reason is that their scale is of little interest to the US corporate cyclopes. Also, there exists an entire grey economic zone in most developing countries which is beyond the control and sometimes even understanding of formal west-centric economic institutions. The governments of developing economies must assist these sectors to thrive.

There will always be some problems that will be difficult to overcome in the short-term. At times, even small- and medium-sized businesses will need to import some goods from abroad (especially technological components that are only produced in a few industrialized countries). This will, of necessity, force them to use the US dollar and, hence abide by US regulations and sanctions.

Ditching the US dollar is not just a currency related issue. De-dollarization should be approached as a multifaceted economic strategy. Currency policy, manufacturing, payment systems, economic treaties and logistics must be addressed as a package. Simply refusing to pay or accept US dollars is not a strategic solution. The example of how quickly Turkiye buckled under US pressure and eliminated Russia’s Mir payment system is a good example of this. An economic ecosystem must be created where use of the US dollar is organically disincentivized via natural market mechanisms.

The vast majority of people in the world are poor and most have probably never even held a dollar in their hands. Their lives should not depend on a currency which has minimal direct relevance to their daily transactions.

Governments in developing countries must create an economic system detached from the US dollar, and soon. It is not to suggest that the dollar or the American people are inherently evil. The fact is that the US’s weaponization of its currency makes countries using the dollar vulnerable to Washington’s economic warfare which causes massive collateral damage.

Impact of boycott on pro-Israeli businesses

Muslims who have been for Hajj or Umrah will confirm that as soon as they exit the Haram (al-Masjid al-Haram), they are confronted by the sun-goddess idol figure of Starbucks.

Islam came to wipe out such symbols but the Saudi jahilshave brought them back right to the doorsteps of the two sacred Harams in Makkah and al-Madinah.

It also needs pointing out that McDonald’s burgers and french fries are extremely unhealthy.

Studies have shown that their regular consumption causes high blood pressure, diabetes as well as hypertension.

Not surprisingly, most people in America suffer from obesity because they consume too many greasy McDonald’s burgers.

Obesity also causes more than 300,000 deaths each year, far surpassing deaths from smoking.

The question arises, why do Muslim countries allow such outlets to sell unhealthy food to their citizens that result in major health problems and are a burden on the healthcare system?

Further, the meat that McDonald’s uses in its burgers is not halaal.

What the boycott of McDonald’s and Starbucks in Muslim countries shows is that if Muslims take a united stand, they can cause significant losses to American brands that are backing zionist crimes against the Palestinians.

The weaponization of the dollar though sanctions

• The weaponization of the Dollar, through sanctions has devastating effects on global economies.
• BRICS and Chinese consumption has provided alternatives to circumvent US Sanctions.