Money, Consumerism and our Future

 This is a multipart presentation in which I discuss how money is created by banks, how consumerism creates false needs and how these two seemingly isolated aspects of capitalism merge to fool ordinary people to buy things that they don't need with money that they don't have.

Remaining parts of the presentation are as follows: 

Part2, Part3 Part4 Part5 Part6 Part7, Part8

Part9, Part10, Part11, Part12 Part13 Part14

Money Creation and Islamic Banks

Creation of Money and Islamic Banks

Dr. Asad Zaman[1]

1      Introduction

In ancient times, alchemists searched for the secrets of turning base metals into gold. In modern times, the fractional reserve banking system has turned the dreams of the alchemists into a reality. However, the secrets of credit creation by banks are kept hidden from the general public. For this reason, discussions and controversies about Islamic banking have not mentioned this crucial issue, even though rulings about the legitimacy or otherwise of financial transaction within Islamic law depend on it.