A COUNTRY CAN BE DEVELOPED WITH JUST NUMBERS

Assalam. A country can be developed just with numbers. Imagine a new  undeveloped country that just started as a country and only have 4 economic parties – 1. A Central bank that acts like a commercial bank. 2. A company that own lands 3. A company that can provide labour and resources 4. A Port Developer. The country wishes to have a port. Things begin just by the Central Bank creating a number, say  RM200 million and put it in the current account of the Port Developer. The Port  Developer than transfers  RM100 million to the Landowner to buy land to build a port. Then it transfers RM100 million to the other company to buy labour and resources (cranes, equipment, cement, etc). In 18 months time the Port is ready. So what we learn here is there is no mystery with money. A Country can build a Port just with numbers! What the country cannot do is to buy things from another country. If it wants to buy rice from another country it has to sell something, say rubber it produces to get the foreign currency to buy the rice. As for the currency used inside the country we saw it was just numbers. What the country has to ensure it is not overproduced to create inflation sufferred by the poor. If the money is gold and silver – excellent! If it is papernotes backed by gold and silver – good!. If it is just numbers but the central bank can control its production and limit its creation only for the real economy also good. But get the Scholars to endorsed this. So there is no mystery about money. You do not need to borrow from the World Bank if all the resources you need is from inside the country. However the crazy system we have now is that the right to create money is given to the private banks and 80% of the loans/new money they create goes to personal loans, credit cards, housing, commercial properties and the financial sector. See the problem vis a vis inflation, expanding poverty gap etc.? A lot of new money is created without a corresponding increase in goods and services. And if the banks as they do now, funds only 20% of SME needs which sector creates 80% of jobs we will have youth and graduates unemployment. On an international scale the right to print money is given to the US ie the USD as international currency. The US leaders are owned by Israeli Lobby – so Palestine and AlAqsa is easily threatened. See how the son in law of President Trump now determines the rules that gives Jerusalem to Israel?! See why in Surah AlBaqarah Ayat 279 Allah swt and His Rasul declare war on the practitioners of riba? Riba is not a small matter. We can begin by reforming our own domestic monetary system. And internationally adopt a system that do not lead to the loss of Palestine and AlAqsa, and the destruction of Libya, Iraq, Afghanistan, Syria etc etc etc.

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