Friday, November 07, 2008





One of the big imponderable enigmas hovering over Obama’s campaign and his chances of becoming the 44th President of the United State of America was how the Israel Lobby and the neo-cons will let it happen. Obama was able to circumvent two of their most potent instruments of coercion on the Presidential Hopeful: massive funding potential and the united Jewish vote. Obama had very successfully neutralized both, one by collecting small donations from millions through email canvassing and second by dividing the Jewish vote on partisan and economic lines. However, both the Israeli Lobby and the Neo-cons are part and parcel of US nation and at the first opportunity, they will try to infiltrate his administration, to subvert and deflect his inconvenient strains of initiatives that will adversely affect the old neo-con agenda. With placements of people like Dennis Ross in any influential position to influence Obama’s foreign policies which are bound to differ from that of Bush and Neocon, if America has to see the change that he had so emphatically promised to the nation, the ‘evil empire’ is fighting back. One of the latest moves is to taint Arab money and finance as anti-American. The whole world is aware that the massive Sovereign Funds of oil rich Gulf countries are all locked up with the West and there has never been any reference to Islamic Banking conditionalities over any such investments. However, now that the last Bretton Woods has miserably failed due to the greed of the same Neo-con finance manipulators, any new world reorganization will have to find better solutions to the next big crisis and if even a cursory reference is made to even study the relevance of Islamic Banking and Finance to the new World Financial Order, the gnomes have started ganging up on Obama. Obama will have uphill task to put them in place at the very start of his administration. Any pandering to the interests that are responsible to the destruction of America as a economic superpower, will bound to go a long way in reforming the whole mess left by the rogue Bush administration.


The world has tried both the Marxist and the capitalist economic alternatives. In fact, devoid of the human and humane element that Islamic Finance is all about, the old order had played havoc with the lives of billions of people on the surface of the globe. The time has come to give the third alternative a chance to bring in an ethical and moral dimension to how the next financial order should play out. Islamic experts are bound to be represented on the table when the Bretton Woods II is next called in. The world should be prepared for the despoiling role of neo-cons, whose future is all tied up as to how world is messed up and destroyed so that they can pick up the pieces.



Ghulam Muhammed, Mumbai


Expert Warns Obama To Avoid Islamic Finance


Wednesday, November 5, 2008 1:44 PM

By: Dave Eberhart

Article Font Size  



Frank Gaffney of the Center for Security Policy warns that the president-elect should avoid financing his great society with tainted Islamic-correct petro dollars, saying their strings might be attached inextricably to the nation’s worst extremist enemies.

With Barack Obama’s victory Tuesday sucking the oxygen from the air, few are focusing on Thursday, the day the U.S. Treasury Department will embrace the so-called “Shariah-Compliant Finance” or SCF.

If “Shariah” doesn’t ring any bells other than sounding foreign and somewhat ominous, it is simply the “religio-political-legal code authoritative Islam seeks to impose worldwide under a global theocracy,” Gaffney said.

The Treasury Department will host a “seminar for the policy community” entitled “Islamic Finance 101,” and it’s all about getting warm and fuzzy with SCF. Co-sponsoring the event is the Islamic Finance Project at Harvard Law School.

Harvard has benefitted mightily from the infusion of millions of dollars from a Wahhabi Saudi prince and his government, Gaffney said.

Yes, it’s all about money.

U.S. financial institutions, reeling from the credit crunch, are hungrily eyeballing more than $1 trillion in petrodollars, including Shariah-compliant bonds, mutual funds, mortgages, insurance, hedge funds, and real estate investment trusts.

Dow Jones Corp. has even created its own index for Islamic-correct investments: the Dow Jones Islamic Index, according to The Coalition to Stop Shariah.

Enter Uncle Sam, the always cash-strapped giant that must feed at any convenient trough these days, regardless of what strings are attached.

And what a trough it is. The global Shariah market is growing at a 15 percent pace, courtesy of the oil boom and resurgence in Islamic fundamentalism, according to the Center for Security Policy. It’s expected to more than double during the next 10 years.

Attractive chunk of available change and maybe even an imperative, but some watchdogs are ringing alarm bells.

Investors Business Daily recently examined Shariah-compliant finance and its involvement with investments and other transactions that have been structured to conform to the orthodox teachings of Islamic law.

“That means they can’t charge or earn interest, the cornerstone of our credit-driven economy,” the business publication advised. “Nor can they take any stake in ‘haram,’ or forbidden, industries, including meat and beverage producers (if they process any pork or alcohol); entertainment; gaming; and interest-based financing.

“Wall Street is jumping into this hot new market oblivious to the risks not just to the bottom line, but to national security. It knows little about Shariah law and is turning to consultants to create ‘ethical’ products to sell.

“Lost in the hype over these Muslim-friendly funds is that they must ‘purify’ their returns by transferring at least 3 percent into Islamic charities, many of which funnel funds to terrorists.”

Bottom line: Shariah law obligates that a sizable portion of “zakat,” or giving — one of the pillars of Islam — go to support jihad. So many of the purification donations generated from Shariah finance could wind up in the hands of our enemy.

Gaffney sees the latest Federal interest in SCF products as leading to dangerous ends.

“Such submission — the literal meaning of ‘Islam’ — is not likely to remain confined long to the Treasury or its sister agencies,” he said. “Thanks to the extraordinary authority conferred on Treasury since September, backed by the $700 billion Troubled Asset Relief, the department is now in a position to impose its embrace of Shariah on the U.S. financial sector.

“The nationalization of Fannie Mae and Freddie Mac, Treasury’s purchase of — at last count — 17 banks and the ability to provide, or withhold, funds from its new slush fund can translate into unprecedented coercive power,” the expert said.

Gaffney has called upon the new president to nix the outgoing administration’s determination to advance the Islamist agenda via such projects as “Islamic Finance 101,” and what flows from them.

He calls the embrace of SCF “the first far-reaching policy decision inherited by the new president-elect.”

Gaffney’s advice: “Pull the plug on Thursday’s indoctrination program and the insidious industry it is meant to foist on the ‘policy community,’ our capital markets, and our country.”

“After all, the object of Shariah is the supplanting of our government and Constitution, through violent means if possible and, until then, through stealthy ones,” he said.

© 2008 Newsmax. All rights reserved.





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