Thursday, November 6, 2008

Shariah Islamic Finance 101 By Joy Brighton

As a Columbia MBA, Wall Street trader, and college professor of investments, I'm here to break the silence and tell you about more greed and negligence on Wall Street and in Washington. While YOU and our government focus on the sub-prime market collapse, there is another financial crisis brewing. The same disastrous formula - Wall Street and their lawyers jumping on board without truly kicking the tires, too much focus on profit and not enough on risk, creation of newfangled derivatives and Washington paying little attention to protecting Americans. It's called Shariah Islamic Finance - the newest and fastest growing financial market in the world... and, oh yes, Wall Street is on board. Big time!

Harvard Law School is presenting Opportunities in Islamic Banking to the U.S. Treasury and will likely explain to the U.S. TSY that Shariah-Compliant Islamic Banking is the answer to our economic crisis. We all know what finance is. But what is Shariah Finance? Two Words. Though Wall Street is focused on the money side of Shariah Finance, Shariahis the reason this market exists.

Shariah Islamic Law is not "law" as we think of it to protect citizens, but "rules" to dominate and control Muslims. Muslim rules like: Muslim women are the property of men, polygamy, forced child marriages, death to homosexuals, and the obligation to wage "holy war." If you criticize Shariah Law, you are not a "true" Muslim and must be killed. Shariah Law is the written doctrine of radical Islam. Who practices this Islamic law? The government of Saudi Arabia, Iran, Sudan and the Taliban and Al-Qaeda regimes.

So how did Shariah Finance, the most effective tool of radical Islam, become accepted in the West? In the spirit of "multiculturalism" and "political correctness" gone way overboard, Wall Street has bought into a one-sided billion dollar Middle East advertising campaign, without asking questions. Fancy hotel conferences persuade businessmen that "Muslims have religious banking requirements, and if you create investments according to Shariah Law, 1.2 billion Muslims loaded with oil money in their pockets will beat a path to Wall Street."

The idea of Shariah Banking was created by radicals like Sheikh Qaradawi, a terrorist today who is banned from entering the United States and Great Britain, who today leads international Islamic finance agencies. How does he describe Shariah Finance? He says, "I like to call it Jihad with money, because God has ordered us to fight enemies with our lives and our money."

These financial institutions are offering Shariah bonds, mutual funds, hedge funds, and insurance. They are not only lining the pockets of our enemies, but, worse, they are branding Shariah as legitimate, Western, friendly and safe to trusting Americans.

Here is a list of those banking institutions:

Citibank
HSBC
Dow Jones
Standard & Poor's
UBS
Barclays
Goldman Sachs
Deutsche Bank
Wachovia
Lloyds of London
Morgan Stanley
JP Morgan Chase
Blackstone
Blackrock
Millennium Hedge Fund
Ospraie Capital Hedge Fund
Paulson & Company
Arcapita, Inc. (previously Crescent Capital)
BNP Paribas
Guidance Residential
Zweig-DiMenna

New reports show that Al-Qaeda carried out Sept 11th with money received from "Shariah Bank" donations. And yet U.S. banks are still in this game.

Joy Brighton is a Columbia MBA holder, a former Wall Street trader and a Wall Street consultant. She is a Shariah Finance watch expert for ACT for America.org - the largest national security citizen action network with 220 chapters across America.

1 comment:

Unknown said...

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