With the discussion of De-Dollarization, comes one of alternatives currency options. We know that the dollar will not be replaced in this system, even if countries begin to move away from the dollar to other currencies in an attempt to decrease their reliance on US currency. So, the other option is the Gold Standard. We […]
As the rupee continues to plummet in value, sparking huge inflation, doubts and fears are mounting over the country’s economic health, particularly its ability to pay the import bill, for essential items, in the coming weeks. There has been a steep decline in the central bank’s foreign exchange reserves, which have shrunk to a near […]
Bangladesh Bank created fresh money of more than Taka 500 billion in the July-December period in the name of budget support, the highest in recent history (The Business Standard, January 03, 2023), to compensate the money looted from the banks by the Capitalists elites. The default loans of the commercial banks have already reached Taka […]
The world of today is still living on the impact of renewed economic crises, but it continues to be relieved of bad treatments and their distance from the serious issue of the economy, especially in light of the control of the global capitalist system and its global banks and funds in the paths of countries, […]
Nureddin Nebati, Minister of Treasury and Finance, said, “High increases in international commodity prices, especially food and energy, triggered by the global pandemic and war circumstances, and some disruptions in supply chains play a fundamental role in high inflation rates in our country, as in all other countries in the world.” said. (03.06.2022 Akşam)
Kenya is Sh1 trillion shy of hitting the Sh9.1 trillion debt ceiling. The latest National Treasury debt registry shows the country’s gross public debt stood at Sh8.2 trillion by last December. Total external loan was Sh4.174 trillion with multilateral loans standing at Sh1.782 trillion, commercial Sh1.208 trillion and bilateral Sh1.17 trillion. Kenya might have to […]
Since the end of the Second World War, the political status quo has been maintained under a neo colonial model dominated by American hegemony. Although European countries, like Britain and France, play certain roles in Africa and the Middle East, it is America that has been dominating the global politics and it was able to […]
The Rupees is tied to the dollar The Rupee is constantly weakening, causing huge inflation. In 2018, one dollar bought 120 Rupees On 26 October 2021, one dollar bought 175 Rupees. The Messenger of Allah (saw) declared gold and silver as the basis for currency. The prices in the Khilafah were stable for centuries. #KhilafahEndsAmericanEconomicOrder
At a Senate Banking Committee hearing of 28 September 2021, US Treasury Secretary, Janet L. Yellen, warned US lawmakers on 28 September of “catastrophic” consequences, if Congress failed to raise or suspend the statutory debt limit by 18 October 2021, saying inaction could lead to a self-inflicted economic recession and a financial crisis. Then on […]
