كتب غير متبناة
Rajab 1418 AH - November 1997 CE
The Turbulence of the Stock Markets: Their Causes & the Shari'ah Rule pertaining to these Causes
Abdul Qadeem Zallum
This booklet discusses the sharp drop in stock prices in major financial markets in October 1997, starting from Hong Kong and reaching America, comparing it to what happened in 1987 and 1929, with a focus on the panic accompanying the decline.
مقدمة / Introduction
In the last week of October 1997, a sharp drop occurred in stock prices in major financial markets, starting in Hong Kong, moving to Japan, then to Europe, and then to America. The decline continued from one country to another as the sun rose in each. The sharp drop was accompanied by fervent panic that what was happening was a repeat of what happened in October 1987 when the stock price index in New York fell 22% in one day, or worse, what happened in 1929 when the collapse of stock values in America led to a great economic depression that is still called in history books the "Great Depression," which lasted more than ten years of poverty, hunger, and loss, and did not recover until Franklin Roosevelt decided to involve America in World War II and revitalize its economy with massive war production.خاتمة / Conclusion
The occurrence of these shocks in the financial markets in the West and the rest of the world demonstrates the corruption of the capitalist economic system, the corruption of the joint-stock company system, the corruption of the banking usury system, and the corruption of the mandatory paper money system. It also shows that there is no salvation for the world from the corruption of the capitalist economic system, and from these shocks in the financial markets, as long as these systems exist. What saves the world from the corruption of this capitalist economic system, the corruption of the joint-stock company system, the banking usury system, and the mandatory paper money system is the abolition of this corrupt capitalist economic system, the abolition of the joint-stock company system, or its transformation into Islamic companies, the complete abolition of the banking and non-banking usury system, and the abolition of the mandatory paper money system, and the return to the gold and silver standard. This will end the terrible inflation in money, the usurious bank loans, and the speculations that affect the occurrence of these shocks in the financial markets, as well as the need for the existence of usurious banks. This will stabilize the economic conditions in the world, end the monetary crises, and end the justification for the existence of financial markets, and consequently end the economic crises. May God bless and grant peace to our Prophet Muhammad, his family, his companions, and those who follow them in goodness until the Day of Judgment.
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