Killing Reconciliation: Military Raids, Backing of Corrupt Government Undermining Stated US Goals in Afghanistan

The Obama administration says it is backing a strategy of reconciliation with the Taliban. But just back from Afghanistan, unembedded investigative journalists Jeremy Scahill and Rick Rowley say night raids by US Special Operations are killing the reconciliation the administration claims to support

Bank of England Chief Mervyn King Proposes Eliminating Fractional Reserve Banking

This is an important call that should be coming from those that are so adament about shariah-compliant finance...
Source Mervyn King - the governor of the Bank of England - has proposed abolishing fractional reserve banking.

As the BBC noted last week:

Mervyn King, the governor of the Bank of England, has tonight made a big intervention into the debate on banking reform. In a speech at Buttonwood, New York, he [listed] much more radical proposals.

1. Forcing the riskiest banks to hold capital "several times the magnitude" of requirements at present.

2. The Volcker rule-style enforced breakup of banks into speculative and non-speculative arms.

3. The "Kotlikoff proposal", which forces banks to match each pool of risks with a requisite amount of capital, preventing losses in one spilling over into another.

4. Stunningly, Mervyn King imagines the "abolition of fractional reserve banking":

"Eliminating fractional reserve banking explicitly recognises that the pretence that risk-free deposits can be supported by risky assets is alchemy. If there is a need for genuinely safe deposits the only way they can be provided, while ensuring costs and benefits are fully aligned, is to insist such deposits do not co-exist with risky assets."

King does not advocate any of these radical plans - but the fact that he goes out of his way to list them, and to place them on the agenda of the UK's Independent Commission on Banking, means that we are not yet at the end of the debate about long-term reform of the banks.

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Beyond the technicalities, the fact that a central banker in a G7 country is prepared to imagine such outcomes is itself significant.

Moreover, King wrote to Ben Dyson and stated:

 You suggest that banks should be forced to conform to the underlying purpose of the 1844 Bank Reform Act. You might be aware that I have said publicly that I think ideas in this spirit - such as those advocated by John Kay - certainly merit serious consideration in the debate as to how we reform our financial system. I remain sympathetic to these views. But as I said in my previous letter, I do not want to prejudice the outcome of the Banking commission's deliberations. Now the Commission has been set up, I think we all should wait to see its conclusions."

 As Dyson explains:

The 1844 Bank Charter Act ('Reform' is a typo) was a piece of legislation that prohibited commercial banks from printing paper notes (£1, £5, £10 and so on). Before this law was passed, banks were permitted to print as many paper notes as they wanted, up to the point where they printed too many and went bankrupt (as everyone cashed in their paper notes at once).

That situation should sound very similar to the situation that we have today - we currently allow commercial banks to 'print' money in the form of digital bank deposits (the numbers in your bank account). In the years up to 2007, the banks 'printed' far too much of this digital money, to the extent that they - and the economy - started to collapse.

The 'underlying purpose' of the 1844 Bank Charter Act was to prevent the commercial banks creating money and to restore that privilege to the state. It had become obvious to the government of the day that if banks were allowed to create money, they would keep creating money up until the point where it destabilized the economy, so they could not be trusted with this responsibility.

So, in plain English, Mervyn King appears to be saying:

"I agree that banks should probably be stopped from creating money, and recommend John Kay (or Laurence Kotlikoff's) proposals. But it's not for me to say - let's leave it to the Banking Commission."

It's very reassuring to know that the top guy at the Bank of England understands the root of the issue and is promoting solutions that would go a long way to addressing it. Both John Kay and Laurence Kotlikoff's proposals would prevent commercial banks from creating money (or 'issuing credit') for their own benefit at the expense of the wider economy and the public.

Ironically, while King is proposing the potential elimination of fractional reserve banking (i.e. a return to 100% reserves), Ben Bernanke has proposed the elimination of all reserve requirements (i.e. requiring no reserves):

The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system.

Kalamullah.com releases Collection of Fatawaa from Ibn Uthmayin

LINK TO DOWNLOADS HERE

Oil, Islam, and Conflict: Central Asia since 1945

Oil, Islam, and Conflict: Central Asia since 1945 (Reaktion Books - Contemporary Worlds) By Rob Johnson
Publisher: Reaktion Books | Pages: 240 | Date: 2007-10-15 | ISBN: 1861893396 | PDF | 1MB

The Taliban is resurgent in Afghanistan while Chechnya still struggles under a shadow of violence, and the nations surrounding them are barely more stable. Add in the significant reserves scattered throughout Central Asia and you have a volatile political cocktail that makes the region, in Rob Johnson’s words, the “new Middle East.” In Oil, Islam and Conflict, Johnson provides an essential analysis of the region’s tumultuous history and uncertain future.Johnson examines the problems that have plagued the region, including civil wars in Afghanistan and Tajikistan and burgeoning Islamist terrorist movements in several nations. He explains the complex role played by narcotics, ethnic tensions, and the potential wealth from oil and gas reserves in the region’s political maneuverings, and delineates the complex links between civil violence and the policies of Central Asian governments on such crucial issues as human rights, economic development and energy.A timely investigation, Oil, Islam and Conflict will be required reading for all those invested in the threat of terrorism and the future of energy security.

DOWNLOAD HERE

The United States of Inequality

The distribution of income and wealth has become increasingly unequal. Middle-class incomes have stagnated while the top one percent of earners have seen their share of national income climb to 24 percent. Workers no longer benefit from productivity increases, and upward mobility, long the saving grace of the American economy, has faltered. Why is this happening? In a recent 10-part series in Slate, Timothy Noah weighed eight possible causes of the Great Divergence and what it might mean for our collective future. Join us for a discussion of these trends and their causes, costs, and consequences. 

An account of the martyrdom of Syed Qutb:

 There was a man called Fawad Dajawi - the coward, who claimed to be a judge (even though he was an ignorant commoner), he would make judgments upon the Ikhwanis’ in court. To show how much of a coward he was, when he went to fight the Jews in 1956, and the Jews surrounded the Muslims, he joined the side of the Jews against the Muslims. So the Jews let him go due to his betrayal of the Muslims. This man was the judge against Syed Qutb, and he was extremely rude to him.  Syed Qutb would look at Fawad Dajawi, and had no respect for him at all. He would look at him with such a harsh stare, that Dajawi became terrified of Syed Qutb. So in court, Syed Qutb took the blame for everything for the Ikhwani movement.  Syed Qutb was sentenced, and he knew that his execution was going to be near. So he sent letters from prison to his family during this period.

Human Rights Organisations, and many leaders [including Shaykh bin Baz) said that Syed Qutb should be released. When Malik Faisal [the king of Saudi Arabia], said he should be freed, Abdul Nasir became very angry and said that we will do the execution the next day.

His sister Hamidah was told to ask forgiveness from Abdul Nasir, and say that it wasn’t you who was responsible for this Ikhwani revolution. And that if you admit to this, then all charges will be lifted from you and you will be safe and free.

So Syed Qutb said;

I swear in the Name of Allah, if this "thing or talk" [of another group doing the revolution] was correct, then I would say it and there will be no force on the face of the earth that can prevent me from doing it. And I will not speak a lie, ever.

They tried to seek pardon from Syed Qutb in any way they could, but he didn’t change his word. Syed Qutb said to his sister.

He said, because Hasan Hudaibi was still really in charge of the Ikhwan al Muslimeen.

“If you see Hasan Hudaibi, the guide of the Ikhwan [brotherhood]. Then give him Salam (the greeting of Peace), and tell him that Syed has faced as much punishment as the human can suffer, so that you and the brotherhood as a whole does not suffer.”

They then came to him again on the last point before he was going to be executed, and said; Just say sorry you’re sorry for what you did and you will be free.

So Syed Qutb said

“I will never seek any excuse for work for the sake of Allah.”

They told him to say just a line or a few words to Abdul Nasir tosay that I’m sorry for what I did, and you won’t be executed, and you will be free.

So Syed Qutb said;

“Indeed this finger which testifies the Oneness of Allah in salah [prayer], it refuses to agree on anything – in support - of this oppressive regime.”

The Day of Syed Qutb’s Execution

Generally prisoners would not know when they are due to be executed because of public sensitivities. Consequently, the date of the execution of Syed Qutb was kept hidden even from Syed Qutb himself. On the day of his execution the military officer entered Syed Qutb’s cell under the pretext that he has been ordered to change his cell quarters. However ash-shaheed Syed Qutb knew that this was not just another cell change and said, ‘I know where you are taking me, for the Prophet Muhammed came to me in my dream and told me (about today), so take me. ’

So they took Syed Qutb to the place of his execution. Everybody saw him with a beaming smile on his face, he was extremely happy and waving to the prison guards.

He was saying before his execution; I am waiting for this moment.

And he said;

I am living a life that I have never lived before. I am feeling the true meaning of Emaan [true Belief]. I fully understand ‘Aqeedah (Islamic belief) as its meant to be understood more than ever before. I am waiting for my shahadah (martyrdom), and I have never lived a life better than the life I am living right now.

This is what he said before he was about to be executed.

"On receiving his death sentence in court, Sayyid Qutb said, 'Alhamdullilah (all praise is for Allah) I performed Jihad (struggle) for fifteen years until I earned this Shahadah (martyrdom).' "

His face was beaming, as was recorded on the cameras and TV. This was the reality of life, and he was expecting it, looking pleased to meet Allah. He knew that this was the truth, knowing that if you work sincerely in your life for the sake of Allah – then your end no doubt – will be shahadah (martyrdom) in Allah’s/God’s cause. This is what he had been waiting for, for so long. On the 29th August 1966, with Abdul Fattah Isma’il, and Muhammad Yusuf Hawash (who were also great leaders of the Ikhwan), they were all hanged, may Allah have mercy on them.

And relate to them the story of the two sons of Adam...

On that day, the Imam of the Ikhwan al Muslimeen in the Jumu’ah
[Friday congregation] prayer recited from the Qur’an Surah Maa’idah (5:27) on the two sons of Adam;

And relate to them the story of the two sons of Adam with truth when they both offered an offering, but it was accepted from one of them and was not accepted from the other. He said: I I will most certainly kill you. (The other) said: Allah only accepts from those who are Muttaqin [guard (against evil).]

When it was recited, they all burst into tears and began to cry. Syed Qutb became shaheed for the ideas he carried. And this shahadah brought life to the Ummah [muslim nation].He himself would say;

'Indeed our words will remain lifeless, barren, devoid of any passion, until we die as a result of these words, whereupon our words will suddenly spring to life and live on amongst the hearts that are dead, bringing them back to life as well…'

His books spread around Egypt even though the government tried to stop them. His books were handwritten – since the government made it illegal to publish his books - and they spread around the whole Muslim world at speed. So any Muslim that you see who is affected by Islamic revival today, has read his book Ma’alim fil Tareeq [Milestones], and any Muslim who has read his Fi Dhilal al Qur’an [Under the Shade of the Qur’an], this is when they started to understand the Deen [Religion] from a revival perspective properly and comprehensively.

Sick American Zionist calls for War with Iran to Boost Economy in Op-ed

This article is disgusting. Howevee, with Republicans expected to win big. The war push may be on as a quick fix to win the economy. If the U.S. chooses this route however, it will be fall much earlier than expected now.  Check out how sick-fascism is discreetly packaged by the mainstream press.  

How Obama Might Recover

SOURCE Washington Post - When the midterm election cycle began, the prevailing opinion was that Barack Obama was cleverer and more inspirational than anyone else on the scene. As it ends, nothing appears to have changed.

OH, YES, I know that Democrats have fallen into a peck of trouble and may lose control of Congress. But even if they do, Obama can still storm back to win a second term in 2012. He is that much better than the competition.

In what respects is he enduringly superior? Let's start with the basics. He is much smarter than his challengers in either party, better able to read the evidence and come to the right conclusions.
Over time, his conclusions are likely to stand scrutiny better than those of other politicians. The crucial case in point is his analysis of economic forces. No one would pretend that this is anything but a daunting situation. The nation is suffering simultaneously from high and persistent unemployment, lagging investment, massive public and private debt, and a highly inefficient tax system.

The steps that have been ordered so far in Washington have done nothing more than put the brakes on the runaway decline. They have not spurred new growth.

But if Obama cannot spur that growth by 2012, he is unlikely to be reelected. The lingering effects of the recession that accompanied him to the White House will probably doom him.
Can Obama harness the forces that might spur new growth? This is the key question for the next two years.

What are those forces? Essentially, there are two. One is the power of the business cycle, the tidal force that throughout history has dictated when the economy expands and when it contracts. Economists struggle to analyze this, but they almost inevitably conclude that it cannot be rushed and almost resists political command. As the saying goes, the market will go where it is going to go.
In this regard, Obama has no advantage over any other pol. Even in analyzing the tidal force correctly, he cannot control it.
What else might affect the economy? The answer is obvious, but its implications are frightening. War and peace influence the economy.
Look back at FDR and the Great Depression. What finally resolved that economic crisis? World War II.

Here is where Obama is likely to prevail. With strong Republican support in Congress for challenging Iran's ambition to become a nuclear power, he can spend much of 2011 and 2012 orchestrating a showdown with the mullahs. This will help him politically because the opposition party will be urging him on. And as tensions rise and we accelerate preparations for war, the economy will improve.

I am not suggesting, of course, that the president incite a war to get reelected. But the nation will rally around Obama because Iran is the greatest threat to the world in the young century. If he can confront this threat and contain Iran's nuclear ambitions, he will have made the world safer and may be regarded as one of the most successful presidents in history.

davidbroder@washpost.com