Remarkably, I'm free from any questions in my head, that's possibly because I already have one from the other day. That's finance!
This is a big one...Islamic Finance!!!
The system in place in the majority of the world has failed. It's not supposition it's fact. Who can deny it...I watched Top Gear on Sunday and saw the three musketeers drive through Spain where the motorways were empty, towns where huge amounts of brand new real estate sits there empty. 57% youth unemployment. Come on that's not a healthy vibrant economy.
This isn't an attack on western idealogy it's an observation. I'm not a financial wizard, or any economics guru, I've suffered as a result of the "credit crunch", is it a crunch or actually a crash!
Call a spade a spade I say...
I'm not going to spurt out stats or compare x and y. We know where we are as a nation. " We live in austere times", well most of us do while others are just plain fine and dandy(there I go again, sounding like a communist) communism failed too. Chinese communism is a hybrid; not sure how to deal with that one, it's a free market in a bamboo cage, ill leave that with you. The thing about bamboo is its very flexible!
It's not worth ranting on about what's wrong with it, I think we know we overspent now the bills arrived, we haven't got the cash to pay the tab, so we're all washing dishes to pay for it!
Those of us with jobs and an income are still feeling the pinch, no one is really exempt, even the rich don't flaunt it as much so as not to rub "joe the plumbers" nose in it...
This is more like a social commentary than a diary, but what are diaries if not social commentaries. It's a document of a subject in a certain place at a certain time, it captures a mood and the environment in which it's set.
Now, no more pointing out the obvious and get to looking into the less obvious.
Apparently the largest Islamic Finance hub outside the Islamic world is; good ole blighty...London to be exact. What does that tell you. If there's money to be made, the city of London will be in on it...
My understanding of it is simple. No interest to be paid or received for financial transactions, like loans, mortgages etc. so how is money made? Ill find out...
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