"INTEREST"

[Theja]

In the past this has been abused by lenders. But now with government regulation controlling its acceptable highs and lows, it has proven to be the modern Goose laying golden eggs for businnesses and boosting economies.

I understand Islam forbids the practice of 'interest'. Is this true in Morocco?

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In America, because of this 'dynamic of interest' millions of people can buy homes, cars, take vacations, build businesses, get professional/academic degrees, etc. In short, it has become the lifeblood of modern economy -- without it, the world's economy will collapse.

[Theja]

I have a friend whom I will call X here.

Because both X and his wife works in California, they got a loan to buy a house. After some years, X's father in Maine died, leaving the mother alone as the rest of the children lived miles away in different places.

The mother of X invited my friend and family (two adopted daughters from India) to come to Maine and offered them 5 acrers of land (very huge) right in her backyard (Maine is thinly populated and land is vast).

So last year X and family sold their house and returned to Maine (living in California is good but very expensive and stressful). Now they cut their own Christmas tree and even hunt turkey for thanksgiving right in their backyard -- less expenses. Also no need to buy wood to warm the house indoor.

Well, by the time they left for Maine their house in California appreciated. As they sell the house, they profited over $100,000, which enabled them to pay off their credit card debts and car loans -- still with plenty of disposable cash.

Credit cards, car loans, house, all with interest payment. In the end, they profited from the system coming out debt free, plus thousands of dollars extra on hand.
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America has creative ways to circulate and spend and create money, and the world pours billions of dollars everyday into the system as investments to keep the system running. This engine is running on the gas (oil) not from Saudi Arabia, but from the dynamic called "INTEREST". In computer parlance, it can be compared to the DRIVER.

Originally posted by Theja
In the past this has been abused by lenders. But now with government regulation controlling its acceptable highs and lows, it has proven to be the modern Goose laying golden eggs for businnesses and boosting economies.

I understand Islam forbids the practice of 'interest'. Is this true in Morocco?

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In America, because of this 'dynamic of interest' millions of people can buy homes, cars, take vacations, build businesses, get professional/academic degrees, etc. In short, it has become the lifeblood of modern economy -- without it, the world's economy will collapse.

I see you have very obsessed with Islam. Maybe you should talk to a woman named Tudie.

[Theja]

Tudie, please come and talk to me.....

Hongkong is an island with hardly any natural resources. The real resources are its people. The entrepreneural spirit of the people have made it a financial giant in the world of commerce.

Dubai has now sort of become the Hongkong of the Middle East.

Jeff, I'm hinting here that with the initiative of the government and the reorientation of its educated population, Morocco can create wealth for its people, learning from the experiences of Hongkong, Dubai and Ireland (now among the highest income group in the world).

[Theja]

1. USA -- without California.

2. Japan.
3. Germany.
4. Canada.
5. Britain (or California)
6. France
7. Italy.
(revised)

(The budget of Los Angeles County is larger than Brazil).

[Anonymous]

Originally posted by Theja
In the past this has been abused by lenders. But now with government regulation controlling its acceptable highs and lows, it has proven to be the modern Goose laying golden eggs for businnesses and boosting economies.

I understand Islam forbids the practice of 'interest'. Is this true in Morocco?

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Theja , it may interest you to know that while the majority of Moroccans are Muslim, Moroccan - by definition - is not an Islamic state. There should be no monarchy in Islam to begin with.

You are actually becoming a bit boring Under the guise of simple questions like "is interest allowed in Maroc", you are findings ways to attach Islam.

Just remember that empires rise and fall. We live in a time when the West is the strongest, so we have to play by their rules (i.e. interest) however things could be very different in the coming generations.

[Theja]

Well, facts can be boring, I admit that.

Thanks for clarifying Morocco's situation concerning 'Islamic State'; but it is a Muslim majority nation so most of their policies will reflect that. So far no one has offered to answer the issue of "interest" in Morocco.
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Yes, the West is strong now in terms of technology and wealth. Unfortunately it is the extremists and terrorists who are trying to disrupt their power through Murder and propaganda. In the sight of God, these murderers are filled with jealousy and hatred and are doing the works of Satan.