VitalAccurateThinking

Islamic-Safe Finance Grows

To me, the entire Islamic-Safe finance industry is really just interest payments and borrowing money that uses different terminology. For instance:

Investors who need to earn a shorter-term return can contract to buy, say, $100 of copper today, and simultaneously pledge to sell copper in 90 days for, say, $103.

Let's just call it like it is: making money by lending it to another person in return for a payment and the principle back in a fixed time. It is intellectual dishonesty to call it something else.

I guess that is why capitalism is such a powerful equalizer. No matter what religion people believe in, they drop their pretenses to act like capitalists. That is why I am a big believer in free trade and the theory that where goods travel, troops will not follow.

posted by Jim VAT @ 3:08 PM