zaid hamid: the future of global economy -- class warfare blowback

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    With Goldman Sachs conquering Europe, Occupy Wall Street protests going global, Global

    Insurrection Against Banker Occupation (GIABO) going viral, the European Union and its

    currencyThe Euro, teetering on the brink of collapse, more Central Banks adding to their gold

    reserves, 2012 is poised to be the most fascinating year of the 21 st century so far. These are truly

    testing times for every paper currency in the world. All of them are getting devalued against real

    money gold and silver. 2012 should take this devaluation to the next step daily volatile

    swings. Already, the markets around the globe have become so volatile that its a big risk to

    second guess any market now. As people are finding out now, nothing is for sure. Only gold and

    silver are. They have never lost value or become worthless ever since their inception. So lets

    first turn our attention to whats causing havoc in the international markets and every singleeconomy around the globe.

    The New Masters of the Euro Zone:

    It was mentioned in our previous articles and especially the one titled Currency Wars in the

    April - 2011 edition of this magazine that the eurozone is on the verge of collapse. It was shown

    that the debts far exceed the annual income. These countries, also mentioned previously, issue

    debt-instruments bonds, to run their governments. The public sector is at the mercy of these

    debt instruments and as long as there is confidence that the governments will keep making

    payments, there will not be any problem. But then again, it turned out that these countries were

    bankrupt but still were able to keep up with the payments. What came to light was that these

    nations were printing money and paying back in worth less amounts of paper currency. This is

    where investors lose confidence. The payments you receive are worth less and less every month

    and buy you less amounts. In such a scenario, investors now have 2 choices:

    1. Sell your holdings of bonds and exit the country, or2. Ask for a higher return (a higher interest rate)

    Both of the above can also take place as they did in Greece! The yield on the 1 yr bond reached

    as far as 100%! It is natural for the interest rate to go up as investors want a higher return to

    compensate for the loss in purchasing power of the printed currency. This is exactly the samething that happened in the United States of America. But over there, the central bank, which is

    private bank, the Federal Reserve, stepped in and bought all the bonds when no one else wanted

    to buy at such low interest rates. They called it Quantitative Easing 1 and then 2. The net result

    was massive inflation. That nation is trapped now. If it lets the interest rates go up, the country

    goes bankrupt because the debt payments will go sky high. If the Federal Reserve keeps printing

    money and buying all the debt instruments from its own government, net result is hyperinflation

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    down the road. In either case, you are a defaulter! They have chosen the path of defaulting via

    hyperinflation. But in the eurozone, the European Central Bank (ECB) has so far to an extent

    resisted the call to buy bonds from the different governments that are in trouble, namely the

    PIIGS Portugal, Ireland, Iceland, Greece & Spain. The reason is the largest economy in the

    zone Germany. This particular country is wary of such an act as it remembers the

    hyperinflation it experienced under the Weimer Republic in the 1920s when massive amounts of

    paper was printed to back the debts incurred after the Treaty Of Versailles put all the cost of

    World War 1 on Germany. So what happened when the ECB resisted?! The interest rates on the

    bonds for Greece, Italy and Spain shot up! Italy is the third largest economy in Europe and its

    failure to keep up with her debt payments has dealt a huge blow to the entire eurozone. So what

    exactly is going on here?! It is interesting to note that Italy now has a technocratic government

    run by bankers after Prime Minister Silvio Berlusconi was forced to resign during the crisis! The

    entire eurozone is rolling over its debt paying off previous debt by buying new debt! Thats

    like paying off one credit card from another. It does not solve the problem, it just delays it! So

    what all these governments have done is to kick the can down the road and buy some time.The plan is to collateralize national heritage sights, ports and natural resources to the newly

    issued debt. This is what happened to Greece and this is exactly what is being done to Italy and

    Spain now. In between, the ECB has offered to buy bonds by printing money, but the amount

    required is somewhere around $6 trillion which will unleash hyperinflation down the road in the

    eurozone too! So the debate rages on, and the end game keeps on being delayed. The further the

    delay, the bigger the bust! This collapse will make the Great Depression of the 1900s seem like

    a walk in the park.

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    During all this mess, bankers have taken control of high profile positions in the eurozone to push

    for policies that they deem fit for them. It is interesting to note that all of them currently or

    previously belonged to a bank we identified as the biggest Financial Terrorist in our previous

    article, Goldman Sachs!

    IrelandPeter Sutherland: Former Attorney General of Ireland; prominent voice during

    Irelands bailout; non-executive director of Goldman Sachs International

    France Antonio Borges: Former head of IMFs European Department (resigned in

    November, 2011); former chairman of Goldman Sachs International

    ItalyMario Monti: Italys new prime minister; international advisor to Goldman Sachs

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    Belgium Karel van Miert: Former EU Commissioner and ex-international advisor toGolman Sachs

    Germany Otmar Issing: Former board member of Bundesbank and the ECB; helped

    create the Euro; advisor to Goldman Sachs

    GreeceLucas Papademos: Greeces new prime minister; ran the central bank of Greece

    during the controversial derivatives deals with Goldman Sachs that enabled Greece to

    hide the size of its debt

    o Petros Christodoulou: Head of Greeces debt management agency; began hiscareer at Goldman Sachs

    European Union Mario Draghi: New head of the European Central Bank; former

    managing director of Goldman Sachs International

    Europe stands at the brink of a crisis partially orchestrated by the bankers to get more control

    over policy making. The governments are not bailing out themselves or the people. It is the

    bankers that stand to lose if the governments default on their debts. Majority of these debts areheld by private banks with a habit for uncontrolled gambling on commodities, foreign exchange,

    stocks and bonds, disguised as trading.

    The eurozone might be able to buy some more time like the United States of America by printing

    money. But its more difficult here because there are many countries that have different

    languages and culture and they have a past of total war. Not all of them are on the same page.

    Already, the UK has voiced concern about Germany taking over the entire eurozone if it buysdebt of certain countries in need. We know the history of these two countries. So the stage is set.

    Every single option required printing more money now. It is the public vs. the bankers! The

    governments are in the pockets of these bankers. The civil unrest and riots in the eurozone

    covered in the last article are poised to go viral in the entire eurozone. Civil liberties are being

    quashed and new laws put in place to make it seem like a civil martial law now. The Euro will

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    fall apart and not exist as we know it today. The eurozone and with it NATO, faces utter

    annihilation in the shape they are today not long from now.

    United States of Americans on Food Stamps:

    Another month, another record! According to the Supplemental Nutrition Assistance Program

    (SNAP), the usage of food stamps, the minimal way subsistence, hit an all time record of 46.3

    million in the United States of America! The rate of increase is frightening for anyone to

    observe. The economy is not recovering at all, and simply cannot as the fundamentals are so

    woeful; it makes the hair on the back of your head stand up!

    With ever increasing dependency of the public on government subsidies or free giveaways to just

    survive, financed by printing more money, the capacity to support many wars around the globe

    seems like a dream. This particular dream is turning into a nightmare for the United States ofAmerica as foreigners have started dumping the US treasuries (bonds) at a record pace and

    amount. We have explained in detail in the past articles that how the United States of America

    has financed its entire economy and war machine on the back of fake paper money that was de

    pegged from gold in 1971 and the usage of US treasuries (bonds). Well, now since the world is

    waking up to the fact that this nation is just printing money and paying the bills, other nations

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    around the world have started accumulating gold and silver as they want real wealth that always

    retain its value in times of crisis, when everything else is falling apart.

    Jan 2008-Oct 2011: Increasing when the Federal Reserve buys the US treasuries by printing money, Quantitative

    Easing 1 & 2. Inflation went from 2% to 10%-12% now. The recent drop may call for another round of quantitative

    easing (QE3) that will unleash hyperinflation down the road. 20%-50%. Once it goes to those levels, there is no wayto stop it from going higher.

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    Feb 2003-Sept 2011: Another precursor to the next round of Quantitative Easing (QE3)?!

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    It is interesting to note that whenever a crisis starts to unfold in the US dollar, some massive war

    campaign starts and fear mongering begins. The idea is to get people back into buying US

    treasuries as they are considered a safe-heaven in times of crisis. Well now, the crisis is

    coming home to the United States of America and this time, as more fear mongering is being

    spread about Iran, Middle East and Pakistan, China and Russia have had enough! In the report

    published in October, 2011, a record number of US treasuries, $74 billion, were sold in 6

    consecutive weeks. Cunningly, the US would like this to become $740 billion, but judging by the

    response of previous metals; gold and silver appreciated to this news to this sell off in treasuries

    as the exited money entered the metals market, the US better wait until it forces the Federal

    Reserve to intervene and buy out all the bonds to finance the already bankrupt government when

    again, there is no buyer left. So the stage is set on this side of the Atlantic as well! 2012 will

    bring more money printing both in Europe and the United States of America. It will make things

    look a bit rosy for a little as the politicians use the media to say how this is the time of so-called

    economic recovery like President Obama of the United States of America dubbed the summer

    of 2010 as the Recovery Summer. What recovery indeed! One year on, gold skyrocketed to anall time high in the summer of 2011, record number of food stamps issued, and zero jobs created

    in August-2011! ZERO! Not even part time jobs. So when the cover comes off the lid, and

    inflation skyrockets further and possibly heads towards hyperinflation, more people are laid off,

    diminishing purchasing power of fiat currencies goes mainstream, there could be huge civil

    unrest around the globe. In this case again, there is no choice but to print money for the

    politicians!

    So, the markets are extremely volatile and in a downtrend, a sell off in treasuries a reality,

    where is all this money heading to?

    Central Banks Add To Gold Holdings:

    Central Banks are all adding gold and silver to their reserves at a frantic pace. In October alone,

    Russian central bank added 19.5 tonnes of gold reserves. Thailand, Bolivia, South Korea added

    as well. All emerging economies are also reporting increases. Furthermore, China is one country

    which always understates her holdings. Every year, they report a sharp increase in their revised

    numbers. As mentioned before, Chinas target is to have the largest amount of gold reserves in

    the world before it floats her blocked currency. This will add lots of muscle to it and shield it

    from speculative attacks.

    A month after prices rose to a record, Russia, Colombia, Belarus, Kazakhstan and Mexico added

    a combined 25.7 metric tonnes in October alone. Mexico is talking about a silver backed peso

    and even their parliamentarians, almost all of them, are no on board.

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    Russia marches on towards its official target of accumulating around 120,000 ounces. Currently at around 28

    million. Big orders coming up for sure in 2012!

    Russian President, Vladimir Putin shows off some real money!

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    The biggest shift in psychology is the fact that after nearly 2-3 decades, Central Banks around

    the world are now net-buyers of gold. The chart shows the change clearly. During the first

    decade of the 21st century, Central Banks were still net sellers and this is while the price was still

    going up! It rose by a total of 500%! This is the second phase of this bull market is gold (and

    silver). Central Banks have joined the party and they bring along a huge pile of fake paper

    currency which for the time being can be redeemable for a lot of gold, but not for long! Prices

    are set to resume their upward trend after taking a breather in the last month and it will take more

    and more paper to purchase gold in 2012. This bull market in gold (and silver) is just starting!

    If you add the accumulation done after April2011, 2011 has exceeded 2010. Look for another record in 2012.

    As mentioned in our previous article, a big game changer that took place was President of

    Venezuela, Hugo Chavez, claiming physical delivery of the countrys gold holdings that were

    held with banks in England, Canada, Switzerland and the United States of America. So against

    all odds, Venezuela took the shipment amidst tight security. The following was reported on

    November 29th, 2011, by MSNBC on the event:

    http://www.msnbc.msn.com/id/45481474/ns/world_news-

    christian_science_monitor/t/venezuelas-first-batch-repatriated-gold-comes-home/#.TuTcivIppIE

    CARACAS, VenezuelaMany experts laughed off the plan, claiming it unfeasible and nothingmore than a publicity stunt that would never materialize. Yet, just three months after announcing

    his intent to bring home Venezuela's international gold reserves and end the dictatorship of

    http://www.msnbc.msn.com/id/45481474/ns/world_news-christian_science_monitor/t/venezuelas-first-batch-repatriated-gold-comes-home/%23.TuTcivIppIEhttp://www.msnbc.msn.com/id/45481474/ns/world_news-christian_science_monitor/t/venezuelas-first-batch-repatriated-gold-comes-home/%23.TuTcivIppIEhttp://www.msnbc.msn.com/id/45481474/ns/world_news-christian_science_monitor/t/venezuelas-first-batch-repatriated-gold-comes-home/%23.TuTcivIppIEhttp://www.msnbc.msn.com/id/45481474/ns/world_news-christian_science_monitor/t/venezuelas-first-batch-repatriated-gold-comes-home/%23.TuTcivIppIEhttp://www.msnbc.msn.com/id/45481474/ns/world_news-christian_science_monitor/t/venezuelas-first-batch-repatriated-gold-comes-home/%23.TuTcivIppIE
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    the US dollar, President Hugo Chvez has pulled off at least the initial portion of the feat, with

    trademark theater.

    The first shipment of the precious metal landed at Caracas Maiquetia International Airport late

    on Friday night to great fanfare. Pallets carrying the ingots traveled along the runway with an

    armed soldier on top of each. They were loaded onto armored vehicles and carried to Caracasas supporters celebrated in the streets.

    Soldiers stand guard as an armored truck containing gold reserves arrives to the Central Bank in Caracas,Venezuela on Friday Nov. 25, 2011. President Hugo Chavez's government has begun repatriating Venezuela's gold

    reserves from European banks.

    All this drama of money printing, bond exiting and gold accumulation is not oblivious to thepublic. People have woken up to the con of paper money and fractional reserve banking systemand they are not staying silent anymore.

    Occupy Wall Street and Global Insurrection Against Banker Occupation (GIABO):

    They public in the United States of America knows that the Federal Reserve has totally takenover the nations economy and every decision is now made by big banks. The reaction to this hasbeen movements dubbed as Occupy Wall Street (OWS) and Global Insurrection Against Banker

    Occupation (GIABO). OWS has taken some serious shape in the past few months. It started offwith people in the United States of America camping outside Wall Street in New York and non-violently expressing their anger against the big banks who were given bailouts or free moneyby the Federal Reserve with the approval of the US government in Washington. All the freemoney went to the big banks and nothing to the people, all of it for Wall Street, and nothing forwhat they call Main Street. This money did not pass on to the public and in the meantime, thebanks gave out record bonuses while not really reporting record profits. Wall Street bankers havebeen lobbying in Washington for a long time and it is no surprise that they are now in total

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    control of the decisions made there. It was shown in the previous article how they plunderedfarm land in Africa before and now they have taken over the entire eurozone. The United Statesof America is at their mercy now. It is a matter of time when they attempt to do what manyfinancial war analysts are expecting.

    George Soros and other elite bankers are attempting to hijack the Occupy Wall Street movementand get the population to become violent. So far, the protestors have been non violent. However,the police have used extensive force against them. Tear gas and pepper spray has been used bythe police as if it were normal procedure. Reaction to this has been a movement called OccupyEverywhere and this movement has gone global and more than 100 cities around the globe haveseen this movement against big banks. In the United States of America, the plan seems to forcethe protestors to become violent and as a result, the big banks can lobby in Washington to passlaws that would eventually lead to a martial law like situation! The idea would be to hijack suchmovements and then lobby for bills like Senate Bill S. 1867 which was passed 93-7 in theSenate. Such bills are attempts to give the military the power to detain, arrest, interrogate, andassassinate a US citizen if they the person is deemed a threat to national security. This tussle

    has been going on for the past decade and every year the bankers and the government seize morecontrol over the population. How this movement unfolds is yet to be seen, but what is clear isthat the so called elite bankers are looking at every opportunity to seize more and more controlover the population.

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    So, no solution but to print money and civil disobedience movements going global, do theCentral Banks, and especially, does the Federal Reserve have any trick up its sleeve to furtherfool the people and keep the house of cards from falling?

    The 5 Tools of Monetary Policy Under a Reserve Currency:

    The Chairman of the Federal Reserve, Ben Bernanke, outlined the 5 tools he believes can beused to rein in a collapsing economy that results in deflation. He has gone on record to say thatdeflation should be avoided at all costs. The policies he outlined are supposed to boost theeconomy by providing access to cheap(er) money which shall entice more borrowing andinvesting. So far, he has been true to his policies of avoiding deflation at all costs. The tools hecited can be summarized as follows:

    1. Drop Interest Rates to Zero,2. Offer zero percent interest rates to banks to inject money into the economy,3. Purchase unlimited treasuries (US bonds) to keep the interest rates low,4.

    Manipulate the Treasuries structure to keep interest rates low to boost the housing marketby forcing low mortgage rates.

    All these 4 tools have been implemented as explained in this and the previous articles. All ofthem have failed. The 5th one can be deduced by the following remarks Bernanke made beforethe National Economists Club, Washington, D.C. November 21st, 2002. titled, Deflation:Making Sure "It" Doesn't Happen Here:

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    "It's worth noting that there have been times when exchange rate policy has been an effective

    weapon against deflation. A striking example from U.S. history is Franklin Roosevelt's 40

    percent devaluation of the dollar against gold in 1933-34, enforced by a program of gold

    purchases and domestic money creation. The devaluation and the rapid increase in money

    supply it permitted ended the U.S. deflation remarkably quickly. Indeed, consumer price inflation

    in the United States, year on year, went from -10.3 percent in 1932 to -5.1 percent in 1933 to 3.4percent in 1934.17

    The economy grew strongly, and by the way, 1934 was one of the best years of

    the century for the stock market. If nothing else, the episode illustrates that monetary actions can

    have powerful effects on the economy, even when the nominal interest rate is at or near zero, as

    was the case at the time of Roosevelt's devaluation. "

    5. It is obvious that the final tool is revaluating gold.What is also obvious is that under this chairman of the Federal Reserve, inflation was and still isguaranteed! It is comical to listen to economists talk about how the chairman is saving theeconomy by injecting more money in the system, while at the same time, they fail to recognize

    that all he is doing is devalue the dollar deliberately and cause inflation to make things look rosyso the war machine can go around the world and plunder natural resources. He has said it inpublic he will inflate the economy no matter what!

    Whether gold is deliberately revalued or not, it will revalue by itself as mentioned and explainedin the previous articles. Eventually, the free market forces will take over as they have for the pastthousands of years, and then gold and silver will end up at astronomical numbers. It is certain totake place during this decade. This decade will be unlike any other. 2012 seems to be the start ofthe next phase of this shift in psychology. It will require nerves of steel to go through theeconomic Armageddon thats staring us right in the face. Only the prepared shall survive.Nothing is for certain. Only gold and silver are. Paper assets are poised to collapse when

    measured against real money.

    What of Pakistan?

    It is very comical that after all these developments, the Government of Pakistan Finance DivisionEstimates of Foreign Assistance 2011-2012 showed plans to sell Eurobonds worth Rs. 44 billion!A Eurobond is an international bond, denominated in a currency other than the currency of theissuing country. When countries in Europe are begging the world to buy their bonds and UStreasuries experiencing a steady sell off, who would want to buy Eurobonds from Pakistan?!Furthermore, there are expectations of loans and grants from the United States of American,Japan, United Kingdom, European Union, Asian Development Bank, Islamic Development Bankand various other countries. These countries are bankrupt themselves. Their economies are in arecession, pensions are being slashed just to finance the current governments, riots have gonemain stream, and their financial system is on a path towards total meltdown. Yet our governmentexpects them to provide us with loans and grants. This tells us of the competence level of theadvisors, the economic team and the ruling class.

    http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm#fn17http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm#fn17http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm#fn17http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm#fn17
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    Source: Federal Budget: Estimates of Foreign Assistance 2011-2012

    When its time to start accumulating real money, gold and silver, and focus on debt reductionrather than debt re-financing, the Ministry of Finance and the State Bank of Pakistan are busy in

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    making use of this interest based banking system. A country that was founded on the basis of areal-wealth based economic system now has so called elite economists telling us how themodern banking system is good for us, and we cannot do without this collapsing system! Deepdown, even they know that this is most ill-conceived system and not suitable for the worldanymore. The world has woken up to this con. Our beloved founder, Quaid-e-Azam Muhammad

    Ali Jinnah knew about this sick system based on excessive credit and debt. He clearly gave usthe right direction at the inauguration of the State Bank of Pakistan on July 1st, 1948. Thefollowing is pulled from the Jinnah archives is also available on the State Bank of Pakistans

    website:

    The opening of the State Bank of Pakistan symbolizes the sovereignty of our State in the financial

    sphere and I am very glad to be here today to perform the opening ceremony. It was not

    considered feasible to start a bank of our own simultaneously with the coming into being ofPakistan in August last year. A good deal of preparatory work must precede the inauguration of

    an institution responsible for such technical and delicate work as note issue and banking. To

    allow for this preparation, it was provided, under the Pakistan Monetary System and Reserve

    Bank Order, 1947, that the Reserve Bank of India should continue to be the currency and

    banking authority in Pakistan till the 30th September, 1948.

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    Later on it was felt that it would be in the best interest of our State if the Reserve Bank of India

    were relieved of its functions in Pakistan as early as possible. The date of transfer of these

    functions to a Pakistan agency was consequently advanced by three months in agreement with

    the Government of India and the Reserve Bank. It was at the same time decided to establish a

    Central Bank of Pakistan in preference to any other agency for managing our currency and

    banking.

    This decision left very little time for the small band of trained personnel in this field in Pakistan

    to complete the preliminaries, and they have by their untiring effort and hard work completed

    their task by the due date which is very creditable to them, and I wish to record a note of our

    appreciation of their labours.

    As you have observed, Mr. Governor, in undivided India banking was kept a close preserve of

    non-Muslims, and their migration from Western Pakistan has caused a good deal of dislocation

    in the economic life of our young State. In order that the wheels of commerce and industry

    should run smoothly, it is imperative that the vacuum caused by the exodus of non-Muslims

    should be filled without delay. I am glad to note that schemes for training Pakistan nationals inbanking are in hand. I will watch their progress with interest and I am confident that the State

    Bank will receive the cooperation of all concerned including the banks and universities in

    pushing them forward. Banking will provide a new and wide field in which the genius of our

    young men can find full play. I am sure that they will come forward in large numbers to take

    advantage of the training facilities which are proposed to be provided. While doing so, they will

    not only be benefiting themselves but also contributing to the well-being of our State.

    I need hardly dilate on the important role that the State Bank will have to play in regulating the

    economic life of our country. The monetary policy of the bank will have a direct bearing on our

    trade and commerce, both inside Pakistan as well as with the outside world and it is only to be

    desired that your policy should encourage maximum production and a free flow of trade. Themonetary policy pursued during the war years contributed, in no small measure, to our present

    day economic problems. The abnormal rise in the cost of living has hit the poorer sections of

    society including those with fixed incomes very hard indeed and is responsible to a great extent

    for the prevailing unrest in the country. The policy of the Pakistan Government is to stabilize

    prices at a level that would be fair to the producer, as well as to the consumer. I hope your

    efforts will be directed in the same direction in order to tackle this crucial problem with success.

    I shall watch with keenness the work of your Research Organisation in evolving bankingpractices compatible with Islamic ideals of social and economic life. The economic system of

    the West has created almost insoluble problems for humanity and to many of us it appears that

    only a miracle can save it from the disaster that is now facing the world. It has failed to do

    justice between man and man and to eradicate friction from the international field. On thecontrary it was largely responsible for the two world wars in the last half century. The Western

    world, in spite of its advantages of mechanization and industrial efficiency is today in a worse

    mess than ever before in history. The adoption of Western economic theory and practice will

    not help us in achieving our goal of creating a happy and contented people. We must work ourdestiny in our own way and present to the world an economic system based on the true Islamic

    concept of equality of manhood and social justice. We will thereby be fulfilling our mission as

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    Muslims and giving to humanity the message of peace which alone can save it and secure thewelfare, happiness and prosperity of mankind. May the State Bank of Pakistan prosper and

    fulfil the high ideals which have been set as its goal.

    In the end I thank you, Mr Governor, for the warm welcome given to me by you and your

    colleagues and the distinguished guests who have graced this occasion as a mark of their goodwishes and the honor you have done me in inviting me to perform this historic opening ceremony

    of the State Bank which I feel will develop into one of our greatest national institutions and play

    its part fully throughout the world.

    Well, it is obvious the direction was not acted upon. We now live in a Pakistan that is infectedwith the disease of fractional reserve banking where so many people are now living off savingsbonds or simply, interest payments, not realizing that such policies are inflationary inthemselves. Instead of honest money, people are being forced to resort to easy money. Thesystem is designed to discourage people from even attempting to make honest money. Debtfinancing and printing of currency has led to so much inflation in the past four decades that it is

    impossible for the majority to support their families.

    We have promoted the idea of accumulating gold and silver on an individual and collective basisfor a couple of years now. What is also required is an overhaul of the current fractional reservebanking system in Pakistan as well. The steps to be taken to install a gold (and silver) standardinside Pakistan will be discussed in the upcoming articles.