Comments for Essay: Virtual Economy - Root Cause Analysis of The Current Financial Crisis at http://www.khilafah.com/kcom , comment 1 to 2 out of 2 comments http://www.khilafah.com/kcom Wed, 17 Mar 2010 15:42:05 +0100 FeedCreator 1.7.3 http://www.khilafah.com/kcom/index.php/the-khilafah/economy/4324-essay-virtual-economy-root-cause-analysis-of-the-current-financial-crisis#comment-759 The artificial expansion of the money supply, based on the combined implementation of usury and fractional reserve banking, serves as the basis of economic activity -- virtual or real -- throughout the world today. Unfortunately, this practice dominates the behavior of Muslim and non-Muslim leaders of government and economic institutions. Today, over 90% of the money in circulation in the world is debt money. Debt money is money that banks create "on the books" that does not actually exist but serves as credit for a loan. The combination of usury and fractional reserve banking is among the worst forms of oppression ever introduced because it systematically forces people worldwide to conduct their financial affairs to benefit a few. For more information on this topic, please refer to [https://ijtihadtoday.org/reason/index.php?title=How_to_Transition_to_a_Just_Monetary_System]. - Khalil Abdul-Rahman Tue, 09 Dec 2008 04:12:33 +0100 http://www.khilafah.com/kcom/index.php/the-khilafah/economy/4324-essay-virtual-economy-root-cause-analysis-of-the-current-financial-crisis#comment-646 On a note of interest with some historical references: The G-20 Economic Summit Won’t Change the "Financial Crime Scene" by Richard C. Cook http://www.globalresearch.ca/index.php?context=va&aid=10987 - Zeital Tue, 18 Nov 2008 15:43:40 +0100