Archive for the ‘Uncategorized’ Category

VIEW: Banking on Bitcoin

Posted: September 12, 2017 in Uncategorized

Banking on Bitcoin Poster

Set before the 2017 hyper boom in all things cryptocurrency related and the continued emergence of crypto’s as a mainstream asset, in which nation states and renowned private institutions announcing various block chain initiatives and giving their approval for greater adoption, this documentary gives a good life to date overview of this particular crypto coin and all the developments to do with exchanges, regulation and scandals that have thus far taken place.

Worth a watch – I find the following items interesting;

  • Why is there still so much mystery in terms of the founder of this technology. A potential unmasking of the founder has not quelled this speculation, much is still unknown about his identity. Do not ask what is Bitcoin, but rather, who is Bitcoin

 

  • Its worthwhile noting that even at the accelerated pace of online evolution these days, that a number of large scandals have already taken place….yet this has not permanently damaged the lure of Bitcoin or any other crypto….yet it does clearly show that these can be highly speculative and abused just like any other asset.

 

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The IIBI (Institute of Islamic Banking and Insurance) hosted a lecture by Iqbal Asaria recently, for which I received this IIBI promotional mail.

I would like to draw your attention to the doubt cast upon the basis of the entire industry highlighted below;

Islamic finance has often been promoted as inherently ethical and therefore aligned with responsible finance. However, this claim rings hollow once one examines the actual workings of Islamic financial institutions.  The ethical content in their operations is very marginal and the claims look hollow.

From an established industry insider, this opinion carries some weight and once again is evidence of the reality being far from the projected image of this sector

Iqbal adds his concern to those of a number of others who have also exposed the underlying workings of Islamic Finance

An article from the 2008 economic crises written by the two scholars above makes for worthy reading.

I see it as evidence of calling the bluff of practitioners who dabble in nothing more than conventional finance twisted to fool millions who are easily swayed by superficiality

Boom, Bust, Crunch..

Platforms are rarely provided to scholars who wish to take one step back and question some of the fundamental concepts that are being applied. Few questions are raised regarding the validity of Islamic debt financing, limited liability structures, speculative methods of market trading, or the nature of the monetary system. Such matters are given little attention in the headlong rush to copy interest-based methodologies and this has resulted in a number of embarrassing paradoxes

A remarkable personality from Muslim history left his mark on the theory of matters economic as well as philosophical and sociological.

Read a summary of his life and work in this wiki post, further research would be highly recommended;

https://en.wikipedia.org/wiki/Ibn_Khaldun

A notable quote from this great scholar is on the effects of taxation and the state. His work underpins much of the contemporary view about low taxes maximizing incentives and government revenues, as this article draws attention to;

http://www.telegraph.co.uk/finance/economics/11857191/Stamp-duty-is-far-too-high-and-needs-to-be-slashed.html

Inflation IS policy

Posted: October 15, 2015 in Uncategorized

“The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.”

Ludwig Von Mises, Austrian Economist

DISTRIBUTISM

Posted: October 15, 2015 in Uncategorized

Consider the following blog site on a movement detailing an alternative system of distributing resources. A large range of articles and materials can be found for your perusal;

http://distributist.blogspot.co.uk/

In relation to the above, please also find this link to the Hilaire Belloc book; The Servile State

http://ldataworks.com/aqr/H_Belloc_The_Servile_State.pdf

Please consider reviewing the following article on the topic of Currency Devaluation and Resource Transfer from the South to the North by Mohameden Ould-Mey

http://web.archive.org/web/20060901144717/http://mama.indstate.edu/users/mouldmey/Currency%20Devaluation%20and%20Resource%20Transfer%20from%20the%20South%20to%20the%20North.pdf