The Gold Standard & Islamic Economics

What are the origins of the Gold Standard and why did it fail?

[@CoolWinter]

sir you're amazing teacher mjhy economics ki a b c d b nhi pta lkin apki bt itny axhy sy smj ayi mjy itna knoledgable feel hora 😁😁

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@MuhammadAwais-ul7cf]

Bahut hi khoob Dr. Taimor sb. Excellently explained this very complicated subject.

[@aaschannel5264]

Would love to have your thoughts on the following two comments. A) I feel that the argument that the gold standard is inadequate simply because when the economy expands rapidly not enough gold can be mined fast enough to support it is not a valid one. In such situations all that needs to be done is increase the price of an ounce of gold. There is absolutely no need to increase the supply of gold. Especially in our age when digital equivalent of gold can be used to divide gold almost infinitely the argument of “very small amounts cannot be exchanged” is also ruled out. Gold is not meant to be an asset. Its meant to be money. Its supposed to facilitate transactions of real assets. Its the plumbing of the system. There is no need to keep mining more of it in those rare times when economies grow much faster than their typical average rates of a few percentage points. The stock of gold naturally grows by similar amounts. Currently the central banks of the world own about 30,000 tons of gold and around 3000 tons are mined every year. That’s more than enough to absorb even large economy growths even without changing price. But with the option to increase price if accomodate abnormal growth periods, the problem totally disappears. The argument that large trade deficits mean that gold will disappear from those economies is not necessarily valid. As economic wealth will decrease so will salaries and once again their goods will start becoming more attractive in the global market and similarly as the gold reserves of a great economy will increase, so too will their life standards and this will eventually reduce their exports thereby restoring the gold balance. B) The example of the gold standard failing in times like the Great Depression is valid. However it must be realized that this does not imply that the alternative, namely unbacked limitless paper is better. Even the best systems can go through rough periods. Reasonable money printing may be tolerated in extinction level events, but unfortunately what has happened is that Keynesian economics has made governments trigger happy with money printing leading to artificial economies where real assets are few and far between and the paper which represents them is rampant. The amount of damage the paper money system has done to the underprivileged in the last 50 years ever since Nixon took the world completely off the gold standard in 1971 was I am quite sure not anticipated by Keynes. Many have corrected the flaws of Keynesian economics but greed knows no bounds and governments would much rather be able to print their way out of problems even if it meant putting future generations in unlimited debt. Please consider the above two comments as genuine inquiries and give your valuable feedback. Thankyou

[@rutariq]

Sir/Mame! You're thinking in the right direction. The intent of the Keynesian economics was certainly not what they've done in 1971, in 2000, and especially 2008. And now in the last 18 months. In the last 18 months Fed_reserve has printed as many USD since all in the history they've printed. This scale of their balance sheet expansion is unprecedented. And now they're talking about inflation? As dr sahib stressed, there is only a few handles that a central bank has, interest rate or bonds/yield quantitative easing or tightening. Again current crisis we have now landed (had been gradual in fact) is a supply-push rather that cost-pull, as you said greed based. And in fact a true demonstration of failure of capitalism.

[@rutariq]

@MMM Not really. The Chicago Merchantile Exchange (CME) and @NYMEX where the GOld Future are reckon to fix the Spot prices globally. The fact is that all commodities (Crude, Natural Gas, Silver, Wheat, Cotton, even within Equities (S&P500, NASDAQ, DOW30) and Bonds and currencies including USD/EURO/AUS/JPY/CAD/Pound and others) are all traded with their Future contracts. That dictates the Internation spot prices. That's the whole purpose of International Trade Exchanges which are 'almost' synch Internationally across the globe such HENKSENG/CHINA/INDIA/FRANCE/GERMANY/UK/US. In practical I agree there is rigging in prices by some large traders, we're especially seeing nowadays in Crude/Gold/Silver. The reasons may not self-explanatory but maybe out of the scope of this comment.

[@rajakhokhar9731]

If countries don't have gold as in case of UK during WW1 period, they will face deficits. How UK was supposed to stabilize its economy in such a short war period! Your suggestions are valid but for long term. Huge US gold reserves would have increased prices of US products but also in the long term. What countries are supposed to do in case of emergency.

[@aaschannel5264]

@MMM Its impossible to raise or lower the price of something like gold only in a single country. That wouldn’t make sense. It would mean something like saying that the dollar is worth 200 Pak Rupees in Pakistan but 300 Pak Rupees in the USA. That kind of exchange rate spread would be meaningless if international convertibility exists. So since gold would be “money” it would need to have an international price just like it has now. The argument is simply this that “not enough gold” is not a valid argument. One can simply raise or lower the price according to global GDP. In times of global conflict or when trust in the authorities who set the gold price breaks down completely, (which is basically a very extreme scenario), countries could even decide to shut trade with such countries which are not changing the price of gold fairly and only trade with those countries which are. International trade could still exist. Countries with different GDPs will simply benefit or lose in accordance with their contributions to global GDP. And furthermore the lower salaries in countries with less per capita gold will make their exports more lucrative and vice versa thereby creating a nice centering effect. Yes “fixed or limited supply” systems tend to become very difficult to sustain in times of extreme pressure like world wars or existential threats. In those “very very rare” cases I would allow “borrowing from future generations” by printing paper and lowering the “backing ratio” since if it wasn’t allowed even then, the future generations we are trying to save wouldn’t exist. But barring those extreme circumstances, allowing unbacked money, which by the way only benefits the elite because of the Cantillon effect, is uncalled for. Its like telling a cat to look after somebody else’s milk. Why create such a system?

[@aaschannel5264]

@MMM God bless you as well. Stay safe.

[@beyondgalaxies3960]

زبردست ایک مشکل ٹاپک کو آسان ترین طریقے سے سمجھایا آپ نے۔

[@rymaustudio5683]

A man and his love can change the world 🌍. Thanks for your contribution

[@haroon420]

I like your passion for economics. And how you attempt to explain it to lay persons. Well done. 👍🏽

[@hashimawan2433]

He's a Marxist/Leninist, if you don't know what they are then I suggest you to read this,Lenin said: “Destruction of three quarters of the world is nothing; what matters is that the remaining quarter become communist.”

[@haroon420]

@@hashimawan2433 oi bewakuf insaan. Quotes parna aur parhana chor.

[@hashimawan2433]

@@haroon420 Pandu,Jawab de,this guy has an agenda!!!!! Naive people like you get entrapped and then realize that these people are filled with Ahmedis and Atheists and Murtads!!!! I know their lot!

[@RaptorBot]

@@hashimawan2433 Lenin was not a true Marxist

[@hashimawan2433]

@@RaptorBot Give this crap to Pol Pot and Mao and Enver Hoxha of Albania! Pandu

[@sheikhhashimi5082]

First of all, thanks for informative informations. Kindly make in episode, so we can benefit from you in-depth.

[@Telecomguy1]

I always learn more that I ever imagined with your V-Logs Dr. Sahab. Looking forward to Money Supply and Commercial Banks episode. Can you also do a V-Log on Bonds and how they effect the capitalist economy and how Pakistan can issue bonds to foreign investors to grow its economy.

[@zraruko9683]

Informative and thought-provoking.

[@umairhasan5373]

A final year MBBS student studying medicine midnight listening to you as a break time 💗💙

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@beyondgalaxies3960]

یار میڈیسن پڑھ کے کیا کرنا؟ کوئی بزنس وغیرہ کریں اور ایم بی بی ایس بس شوق کی حد تک کریں۔ بلکہ فزیشن سے آگے ریسرچر تک جائیں، لیکن روزگار کیلئے حکومت اور پرائیویٹ اداروں کی غلامی کی نیت توڑ دیں۔ مجھے کیلے کا ٹھیلا لگا کے زیادہ آمدن ہو گی بجائے اس کے کہ مجھے ڈی ایچ کیو میں جاب مل جائے۔

[@M.Sajid98]

SAME!

[@TPMThePeoplesMedia]

Thank you sir, nice presentation.

[@rutariq]

Thanks again dr sahib as always extremely engaging lecture. Two comments: - COMMENT # 1 : The hegemony of an imperial is indeed reflected in the economic advancements into their currency .. in principle you're right, however, cause causality is rather flipped in our case (in most cases fact if you study the past imperialists) especially with US-imperialism. Until the advent of Neo-Liberalism / Globalization (70's especially) this had been more or less true. Since then there had been mass exodus of Industrialization and rather transformation into financialization, nevertheless representing virtual economies (debt-backed and its derivative-based economies). The IOU's are rather worthless across various central banks nowadays if you investigate and various financial institutions around the world with Asset to Equity ratios raising to alarming scales never been. The only reason they're keeping there hegemony employing the triple terrible (IMF/WTO/World-bank) and using large CIA/Military's global foot-print investing into AI/war driven economies. So its their 'PETRO" dollar that has kept their hegemony so far using sanctions and fear factor. i.e. by might rather than real economic advancements. .. this lead to the 2nd comment.. - COMMENT # 2 : About the gold standard. We do have to recognize. US had been 'The' major contributor towards the weaponry-war economics. We should not even call it economics, rather de-economy due to the fact it is destructive economics. Every dollar you spend on creating weapons' you destroy equal or lot more resources. Thus the produce/product that was tangible to gold has been destroyed. So this 'Weapon-Incorporated' is one of the few example that hurts Gold Standards model in its current form. As free Stock markets inflates at various instance (like Y20k DOT.com bubble). Trade imbalance as you said. There should rather be mechanism towards that to account for such disentanglements, for instance as we segregate indices like CPI vs Core-CPI etc. Point is the Gold Standard should be modified not abandoned. My point is that Gold Standard is not the failure. Rather the intent was malicious: Since Bretton Woods until 1971 Nixon's dollar-gold detachment the purpose/promise of the World-Bank was to balance currency exchange rates to facilitate trading, and as this Development Bank to help out nations in the times or trouble. Malicious part became obvious when the troubles were created within nations to bring them into crisis. The notoriety became obvious when that detachment happened from dollar to Gold, while USD was being the sole floating currency against the 6 currencies. They started printing and are printing and will be printing at their own discretion. Thus turning PETRO-Dollar as their sole weapon. However,, its a fact now that when Russia trades in currencies other than USD or China or Iran or KSA anyone does, its a declaration against that fear-factor i.e. PETRO-Dollar. Although we agree in order to create a proper market for any currency standard you need to establish a prevalent Bond/Yield market in order for your clearing houses to sustain and operate. Which we find nothing at this time other than USD. But again it's a matter of time.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@KamranZParacha]

Oh Taimur, you get so excited when you talk about abolishing Capitalism and adopting Socialism ❤️

[@hashimawan2433]

By making subtle anti Islamic videos,he's showing his agenda,you Marxist lot were defeated so badly that your entire system broke down in 1991,this is communism,Lenin said: “Destruction of three quarters of the world is nothing; what matters is that the remaining quarter become communist.”

[@anordinaryman3885]

nice, i may disagree with him some time , especially on Russian oil issue ,but the way he explain things is fantastic and easy to digest .

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@mohammadrizwan1347]

Sir, great efforts thankyou

[@tanveerjamee3300]

this is such an excellent discussion, what muslims primarily lack is proper education. thank you for this priceless discussion

[@bilaljournalist]

Very informative session. Every thing is explained perfectly

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@baruchthinker334]

What a great lecture sir G

[@Physicsmenia]

اسلام علیکم بھائی جان آج ہی پہلی دفعہ آپکے لیکچر سنے اور اپکو فالو کیا۔ زبردست سلام پیش کرتا ہوں

[@hassanhamza5614]

Excellent Lecture!!! Kudos to you.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@MuhammadAwais-ul7cf]

Excellent conversation

[@ahmednaeem5729]

Hats off to you... Perfect explanation! Looking forward to learn from you in LUMS ( I have been admitted in MGSHSS for class of 2026)

[@hashimawan2433]

Yeah,Hats off to a Marxist/Communist Atheist subtle anti Islamic videos!!!!!!!!!

[@ahmednaeem5729]

@@hashimawan2433 He is a Muslim...

[@hashimawan2433]

@@ahmednaeem5729 A Marxist/Communist can't be a Muslim,read the Fatawas of Saudi scholars,and also Indonesian and Malaysian scholars!!!!!! Lenin said: “Destruction of three quarters of the world is nothing; what matters is that the remaining quarter become communist.”

[@hashimawan2433]

@@ahmednaeem5729 Their lot is filled with Ahmedis and Atheists and Murtads!!!!!

[@waqasshahid4484]

We have to wear our religion on our sleeves. This country needs a miracle to get out of this mindset. Everything is a conspiracy against Islam. Even a lecture on Gold Standard. A mob of fools is what Pakistan has become.

[@MuhammadAwais-ul7cf]

Marvelously explained

[@kazimustaqeem]

Such a beautiful explanation. Professor saab is doing noble work.

[@hashimawan2433]

He's a Marxist/Leninist atheist!!!!! ......This guy has an agenda,he makes subtle anti Islamic videos.........This is Communism,Lenin said: “Destruction of three quarters of the world is nothing; what matters is that the remaining quarter become communist.”

[@advocateinn8155]

Difficult concept explain very well thanks sir

[@muhammadshahbazahmed9905]

Thanks sir good working..

[@bilalbashir]

Very good vlog

[@Farooq_Tv]

یہ موجودہ سودی نظام قائم ہی اسی کیپٹلسٹ بنکنگ سسٹم کی بنیاد ہے۔یہاں امیر ،امیر تر ہوتا جا رہا ہے اور غریب، غریب تر

[@MuhammadAwais-ul7cf]

Marvelous analysis

[@dannys4702]

You didn't addressed the Removal of Gold backing on current currencies. Which has also multiplied the effect of Capitalism on the masses.

[@sharjeeljawaid]

Very well explained

[@Azizdik]

Thanks for sharing your thoughts on this topic. Sir please make a video on how IMF works and Pakistan journey with IMF.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@dann5480]

Great lecture. Regards from J&K , India.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@sairaqureshi8470]

Informative. Mike Maloney in his vlogs proposes to go back to ‘ silver and gold’ trade . Why does he say so ? Can you please answer me ,

[@muddasarnazar]

Another one Going to start now

[@aftabnaveed]

There are two types on money in capitalism, 1) Hard money 2) Soft money. Hard money is hard to earn you produce and soft money is you print money and printing money creates inflation. The only solution to stop the inflation is to work hard and produce more and only a free and fair capitalist society enables you to do that.

[@vipanrana2919]

Sir, can you explain Deleuze and Guattaris's Anti-Oedipus

[@muhammadqasim8650]

Yes but printing money, not matter if you increase production accordingly, it can increase the imports because some money goes to people which can increase imports

[@alijawadkhalidpakist]

Wry nice lecture filled with true facts and without any biases. Hats off to you Dr sahib

[@reviewsviewsssaazs8243]

Nice analysis, Dr sb please also explain what is petrodollar and how it emerged. Why petroleum producing countries selling their petrol in dollars not in their own currency.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@r3activi5t13]

kambakht Lever Brothers aiwee ragray gaye :xD Good work, professor sb.

[@lubnakhan9734]

May Allah bless you Dear Sir .. great effort 👍

[@pankaja7974]

he is not promoting jiziya. why will Allah bless him ?

[@nasirmahmood5026]

Dear Sir, we can understand paper money, intrinsic gold or silver but I could not understand what is gold standard if it is neither paper money nor gold and silver? Thanking you sir for informative lecture.

[@ASIFMALIK-to9yu]

اسلام علیکم Sir kindly explains the complete Islamic economy system (A to Z).

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@abdullahsyyd]

what whould you say about the recent Gold Stanadard put by Russia for Russian Rubble. It has improved a lot their economy.

[@ahmedhumayunrasheed2434]

Utopia is living in a world of your own

[@AimsChannel]

Economic growth in Gold standard can be possible if instead of diluting the currency we say good bye to free market economy and manually control the prices to cause deflation... Thus adjusting a bigger economy with the same amount of money and gold reserve... Deflation in prices would also lead into export potential of the goods resulting into more foreign reserves which could finally be converted into gold reserves and more local currency...

[@advocateinn8155]

Sir excellent u are the best

[@kumailnaqvi3234]

Sir ehsan Iqbal ki ragging video Mai apko dekha green shirt Mai Acha laga apko Khush dekh kr😉😂❤️

[@umairyounuus108]

Hold mein trade kis standard py hoti the??

[@asimjabbar8445]

The currency of countries with less gold should have devalued or the entire Govt would have collapsed. The moment the decoupled fiat currencies from the Gold standard, inflation kicked in and every state on the planet Earth acrued huge debts and now sunk under the ocean of debts and paying their interests. We still use gold standard today in Zakat and other grains/resins standard for fitrana etc. Why US refused to give gold to France in 1970s as USD was assured to be backed by Gold by then!

[@muhammadalianwar7870]

Dr Taimur, this is the first time I heard views of the other side. Before this I always heard all bad things about the paper currency. KZbin is filled with videos on gold standard. But I think this subject demands an indepth discussion, I'm not completely satisfied with your 23 minute video because it left a lot of questions un answered. You have to bring the arguments of the other side and take them one by one.

[@roshanchapagain5335]

What about food standard currency as why to state fund money for maintaining gold price hoarding and speculation

[@asimjabbar8445]

Food is a standard of currency in Islam as Gold, silver till this date. We donate money like Zakat as per gold/silver standard and other smaller mandatory donations as per food grains/resins standards like the mandatory fitrana donation at the end of every Ramadan (Eid UL Fitr)

[@ieltsAsad]

lookingfor money supply video.

[@nabeelsafdar5969]

Deficit driven economies have always failed. Whenever one party (usually governments or banks) artificially dilutes the value of money/currency (which are half of any business transaction), that tends to create inflation. Such dilution is done to cover the deficits of overspending. Gold/Silver based system does not necessarily need to increase money supply infinitely. Improvements in technology can reduce costs and keep the trade moving forward. The gold standard was absolved by Nixon as they had already started pumping more dollars than the gold reserves they had. They couldn't deliver their promises such as dollar to gold conversion demanded by Charles de Gaulle of france. So instead of defaulting on their promises, they simply abandoned the gold standard which they could get away with due to their military might. If you get some extra time to watch web series 'Hidden secrets of Money' by Mike Maloney, I would like to have your comment on that.

[@akbarali-fh4rb]

Bhai do not argue so called Dr. Feku bcz he is Jackle of all and master of none.

[@atifrehmanfarooqui1429]

Yes you are correct. The fractional reserve system of banking is the core reason why the economy goes through a recession after a few decades. Gold reserve system would have kept this in check all the time.

[@irfaneffi3237]

Magnificent 🔥🔥

[@mohammedkhan9439]

یہ تاریخی معاملات مخصوص تاریخی معاملات میں، یعنی جنگوں کے بے ہنگم اخراجات کی وجہ سے گولڈ اسٹینڈرڈ کا خاتمہ ہوا۔ یہ۔مثالیں اوقات امن کے لیے مناسب نہیں ہیں۔ اور کسی نہ کسی سطح پر گولڈ سے کرنسی کا تعلق باقی رہنا چاہیے

[@asadabbasmirza9519]

Listen to Sh. Imran Hussain

[@umaisalisajid7052]

Can you tell me , why Gaddafi, saddam were done with Because they were changing Dollars as base currency

[@tanveerjamee3300]

Gaddafi and saddam came into power by murdering and then someone else came into power by murdering them ... its that simple

[@hamzaaslam1999]

Thanks ❤️

[@TALAYAGAR]

thank you

[@tahiraziz9168]

taimur bhai..is wqt k graet scholar jo shah waliullah k thought k revival hain..unho ny economic system ki definition with exact specificity aur relation of production ko jadeed bnyado p smjhay h.. ap waisy molveo s ghbraty hain q k unhon ny jahalat phailai..lkn m khalos e dil s apko un s aik bar mlny ka mshwara zror dnga... Name- shah abdul khaliq azad raipuri Location- Queens road institute of Rahimaia Sciences Lahore usk bad ap khud kaho gy k capitalism s onward aur islam ka apna specific system waqae hai.. bqi apki mrzi..mera comment prh k ignore krein ya positive way m aik bar mil lain

[@whiteholeeducationcenter]

Un ka koi Vedio hai economic system par?

[@tahiraziz9168]

@@whiteholeeducationcenter nh mulaqat hskti h..baqi unka youtube channel h..wo us p jald economic system ki detail vdeos upload krny jarhy..

[@tahiraziz9168]

@@whiteholeeducationcenter Rahimaia institute of Quranic Sciences lahore ye channel ka nam hai

[@tahiraziz9168]

@@whiteholeeducationcenter asal mulaqat taimur bhai ki krani h jo sach m pareshan hain k history m islam asiatic mode of production system p tha..apnna nh tha system koi..to unki tasalli hgi tb jaa k bht faida hna pakistan ko...q k taimur bhai ko abhi tak koi aisa bnda ya literature nh mila jis s unki tasalli ho

[@whiteholeeducationcenter]

@@tahiraziz9168 Qasir Ahmad Raja Nae Tamoor Sahabh ko discussion ka kha hoa hai lslamic economic system Par Tamoor Sahabh khud nahi gate kae khi un ka jhoot fash na ho gae. Sare seculars ka yahi tariqa e wardat hai.

[@alphagaming8446]

U haven't discussed about link between oil and dollar

[@hassananjum3782]

Love you Sir 💕♥️

[@ahmedhumayunrasheed2434]

Doc what about Platinum!

[@izax1686]

So what is today's paper currency based on? Standard wise

[@WST126]

Where's the next video???

[@traveler6062]

Around ww1, or may be now, if some countries spent all their gold reserves due to lots of expenditures and imports then they should increase their production, services and efficiency etc. to earn the gold back. How can just printing your own paper money make you wealthy again? The problem with gold, which Dr. Taimoor is mentioning, also exist in current paper currency world. As US dollar is the dominant currency, what if some countries run out of US dollars, e.g. like PAKISTAN? They have to increase their production and efficiency. So, I don't see problem with gold, except that it's not convenient to carry.

[@adnankhan1326]

Why does money depreciate? How can the value be maintained to avoid RIBA?

[@SUPERNVA-gr4sr]

LoL

[@rfarooqi]

Let's also explore the coins which Prophet SAW and Sahaba used. The coins in use were issued were Byzantine and Persian. Gold, silver and copper. The coins were minted with images of the kings of esch dynasty. Muslim coins were not minted until about 150 years. I would assume that the power to issue currency is also a key par of an economic system. Issuance of currency When a friends advisesxme not to keep photographs at hone since it affects Salah, I cant help imagine the couns with clear images being used and kept at homes ar that time.

[@theknowledgedragon4837]

Sir,yeah gold age of Muslims kia hai?Aap is ko kis tarah dheakte hai wo kon c wajhut the specifically aap k kheal mai wo develop kar rahe thay-

[@whiteholeeducationcenter]

Bhi dako science mei joo bhi development hoi hai Woo military expansionism ki waga sae hoi . Muslim uss time apnae empires ko expand kar rahae thae. Iss lia woo Technological advancements mei bhi baki sab sae agae thae

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@tanseerahmad6586]

Amazing , thanks for explaining , rather debunking the so called Islamic financing system . Please continue This series .

[@realislam4865]

Fandaaaaaa

[@farhantariq4232]

Sir , socialism kessy Pakistan ko technologically advance kar skti hy. Asal bat tu technology advancement hy. Chahy wo socialism ho or capitalism.

[@asimjabbar8445]

To technology advancement feudalism q nhi kr skti? Hr feudal Lord apni Zameen me tra tra ki factories lgay r us area k logon ko factories me forced labour krvay. Cheap labour, cheaper products, better market competition with all those capatalist, socialist etc 😜

[@AbuHaiderSafdar]

Sir you should read the book"Economic Terrorism by Zaid Zaman Hamid" he explains how big power controlling you by paper currency. If we'd have real currency no body could control our economy by decreasing value like why there is 1 dollars equals to 250 pkr? Cqn one dirham equals to 250 dirham??

[@knowledgehub.4601]

sir masla ye k ap porana book parh rahy h......agr govt islamic system lana chahty h gu yaqenon ye porana system nhe chalyga.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@naumanmustafa7728]

Correction please, the term Islamic financial system is a misnomer People make systems, not religion. Islam gives guidelines for economy

[@rajkumarsingh7850]

May you send your mail?I want to share my thoughts and documents on this topic.

[@jalalhassan4009]

What about today? Is there still gold standard operative in the world? If not, then, is there any other standard?

[@user-mn9gp4tl1b]

اسلام ہر چیز کے حوالے سے ایک بنیادی تصور اور اصول دیتا ہے ۔۔اور معاشی حوالے سے بھی اسلام عدل و انصاف کے کچھ بنیادی ضابطے بیان کرتا ہے۔۔۔ باقی وقت کے تقاضوں کے مطابق اس میں تبدیلی لائی جاتی ہے لیکن جو بنیادی اصول اور ضابطہ ہے ان کے تحت۔۔

[@ahmedhumayunrasheed2434]

Gold is nice idea just like antiquity! Wow!

[@realislam4865]

U need read Syed madudi for system

[@gamerzone3427]

Aap Ubaid Ullah Sindhi ko aik martaba parhain unho ne baray wazeh or logical dalail diye hain me aapko link share kardonga agar aap intersted hain to

[@gamerzone3427]

rahimia-resources-prod.s3.amazonaws.com/media/publications/2020/07/09/5-RP-Khutbaat-o-Maqalaat_Book.pdf

[@MohsinExperiments]

We should not adopt the gold standard. We should trade in gold at the state level. And the state bank should convert foreign remittances to the current equivalent valued gold.

[@farhantariq4232]

Hum ne tu capitalist countries ko progress karty deekha. For example, 1970 main china ne free market ko adopt kia phir hi traqi ki. Cuba , Soviet union mao's china sab failure thay.

[@Syychro]

Agar China capitalist bana 1970 mein to phir Pakistan, India, Bangladesh ki development China ke saamne itni low kyun hai? Pakistan to China se pehle "capitalist" tha

[@farhantariq4232]

Bhi phir b india or Bangladesh grow kar rhy. Bat capitalism or socialism ki nhi bat governance, rule of law, political consistency ki hy. In kay bagair socialism b koch nhi kar skti.

[@junaidjadoon1703]

Incomplete analysis which only covers the "medium of exchange" part - others aspects of currency like "containment of value" and "measure of value" if touched upon would give a better conclusion\

[@atharali1027]

sir i wish you would become senator in pakisatn senate and raise your voice on international level.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@saimaahmed8759]

Taimur, Meray comments Baar Baar mitaae jaa rahay hain aapki inn videos Kay neechay say?

[@khalidmustafa7844]

Hmmm question mark

[@Taimur_Laal]

I haven’t even looked at the comments. Why would I delete them?

[@bayofbolan2118]

reasonably explained.

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@muhammadrafiq2722]

Assalam u alaikum

[@abdullahrizwan668]

Why don't you sit with academic scholar (not controversial) and have a healthy debate session ? Don't come up with an argument that Scholars are uneducated yes they are but not each of them many of them are very well aware and educated like Raja Zia ul haq,Hafiz zubair,Mufti Syed adnan Kakakhail Mufti Taqi usmani,Danial( Muslim skeptic,his channel on YT) and list goes on..

[@mystery15]

Brother Daniel haqiqatjo k sath krna chaiye inhein...

[@thelyceumacademy7852]

💗💗💗

[@shabhibinshakeel2660]

utopiyaie .... is this a word sir ?? i would like to believe it was suppose to be utopian. right ??

[@uah9031]

It is UTOPIA

[@karachilahore619]

Islam just give economic principles such as interest free, no monopoly, no black market and Zakat , ushrs as instruments for circulating money between different class. not. a rigid economic system as proclaimed by molanas. by including above principles we can apply any system left to right.

[@babarazam900]

❤️❤️

[@muhammadnaqash2309]

I have to ask .what is the back of dollar as a guaranty .its a jews project dollar project not an American project.

[@akbarali-fh4rb]

When u wear glasses of prejudice then u cannot see with clearly. Why US stocks are expensive? When US removed Gold standard then US never imagined that it will cause stocks to be very expensive. Gold standard is the only benchmark to stop inflation. It is also true that this standard hinders elastic flow of money but take a look of countries which took advantage of this elasticity and ended up in debt. Now the biggest problem every country is facing is debt. Even US is suffering from debt but we cannot feel it because 80% of lenders of US are actually American citizens and US debt is denominated in its own currency. These two factors solely prevents US from feeling the heat of debt. Now a days every youtuber thinks he is master of this whole universe.

[@asimtahir7859]

President Vladimir Putin said on Wednesday that the BRICS countries - Brazil, Russia, India, China, and South Africa - are currently working on setting up a new global reserve currency.....Should pakistan work with them your coments?

[@deendrifts]

Jzk but my dear brother you’re conflating two issues and arriving at the wrong conclusion. The argument against the Islamic gold standard is poor because you mention realities that are only applicable to Capitalism. For example, the stock market crash is a capitalist issue due to the people borrowing money to plug into the market for magical capital gains return rather than true investment into a company based on the product/service being offered. This created an inflated market (over value of companies) based on “hope” which didn’t reflect the true reality on the ground. In Islam we don’t have this virtual market that sits on top of the real market. Furthermore we don’t have the market of derivatives that further sits on top of the stock market - speculation upon speculation! Therefore these volatile markets don’t exist that can cause a huge loss of wealth needing stimulus by tampering with money. We have stable markets with no need to tamper with the money supply. The beauty about the gold standard is that it is not open to manipulation which is the stability it offers and hence the attraction to it. It stores value at all times. #khilafah is the answer

[@phenomenalone4554]

Just because you don't understand how stock market works doesn't mean it's a virtual market

[@IdreesKhan-ts5fp]

kzbin.info/www/bejne/bnfCaYVtZrl0m68

[@deendrifts]

@@phenomenalone4554 the market cap far exceeds real capital. This is evidence of being divorced from reality and hence what I call virtual on metaphorical sense.

[@hassanhamza5614]

@@deendrifts Lecture is on islamic gold standard not stock market

[@deendrifts]

@@hassanhamza5614 he argues against gold standard as being a utopia given that gold cannot handle economic crisis’. Stock market is the example he gave which is why I present that stock market crash and recessions in general are a western phenomenon due to capitalism and not a reality for Islam. Eg the boom and bust caused by a banking industry is alien to Islam. We won’t experience such realities under the Islamic economic system

[@Farooq_Tv]

آپ کو کون کہتا ہے کہ ان کو اپڈیٹ یعنی موجودہ دور کی ٹیکنالوجی سے ہم آہنگ کئے بغیر ہی اپلائی کریں گے

[@babarazam900]

❤️❤️❤️💯🔥