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PRESS RELEASE
A call to thinkers across the world:

Reject Capitalism with its calamities and crises.

Here is a Real Alternative…

There is an overwhelming opinion amongst politicians, economists and thinkers across the world that the cause behind the ongoing disaster of the economic recession is the ideology of Capitalism itself. Capitalism protects the interests of the capitalists – filling their pockets at the expense of the rest of the people. It has deprived millions of a basic standard of living in order to secure the comforts and luxuries of the capitalists and has divided the world into two: the 5 per cent of people who own more than 80 per cent of the world’s wealth and resources and the remaining 95 per cent of the world’s population who barely own 20 per cent of the resources.

Political leaders and economists seem unconvinced that they are able to provide a solution to this serious recession. Indeed, they appear to believe that the capitalist ideology is unable to provide answers for this recession. Similar convictions have been expressed by senior politicians such as Nicholas Sarkozy, Gordon Brown and others. They have proposed temporary emergency measures – despite being aware of their futility – such as injecting capital into banks, markets and flagging companies. They have funded this from their own taxpayers – taking from the poor to give to the failing rich. Yet they persist on their age-old misguidance of maintaining wealthy capitalists at the expense of the poor.

The temporary measures proposed for the global recession have failed because the problem is endemic to the very ideology itself – and a corrupt ideology will inevitably cause corruption and lead to suffering and hardship for those who implement it. Any solutions emerging from that ideology will similarly be defective. This is what Capitalism has proved over the many decades that it has been implemented. In truth, capitalist countries have been forced to adopt solutions from the debunked socialist ideology, such as nationalisation, and forced to contradict their own beliefs by adopting protectionism and economic isolationism that run contrary to agreements such as GATT and indeed the very ideology itself.

Political leaders, economists and thinkers should now discard this ideology, but need look no further for an alternative, because for decades Hizb ut-Tahrir has proposed the real solution to all of humanity’s problems: Islam and its economic system. It was revealed from Allah (Most High) to the heart of His Trustworthy Messenger (may Allah bless him and give him peace) and was implemented through the ages and over a diverse range of nations. It achieved success and happiness for all human beings in that state, such that there was not a poor person in need of Zakat (charity).

In January 2009 in Khartoum, Sudan, Hizb ut-Tahrir convened a global economic conference discussing the global economic crisis, explaining its reality, critically examining its symptoms, accurately expounding its causes and then offering the only real and correct solution to the problem.

Now, Hizb ut-Tahrir is holding joint press conferences in Beirut and London to launch a new book that presents the papers that were delivered at this conference, outlining the real solution to this global crisis as well as the means of implementing them so that security, happiness and well being may be achieved for all of humanity.

We invite you to attend and take part in our two press conferences during which there will be an open opportunity for questions and discussion about the proposed solutions.

Hizb ut-Tahrir also invites you to watch the two press conferences live on the Internet and to send your questions and comments to the media office via its official website: http://www.hizb-ut-tahrir.info

Press Conferences

BEIRUT

Friday 8th Rabi` al-Akhar 1430 Hijri / 3rd April 2009

10:30 a.m. Medina and Beirut time.

As-Safir hotel in al-Rawsha, Beirut, Lebanon

LONDON

Friday 8th Rabi` al-Akhar 1430 Hijri / 3rd April 2009

6:30 p.m. BST (8:30 p.m. Medina and Beirut time).

The London Continental Hotel, 88 Gloucester Place, London, United Kingdom

The Media Office of Hizb ut-Tahrir

info-conf-en

Live coverage

http://kstreamvideo.blogspot.com/ – for video stream
http://kstreamaudio.blogspot.com/ – for audio stream only

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Picture taken from internet (My apology for being unable to quote the source).

capitalism-pyramid

Top layer: Capitalism (symbolized by a bag of money)

Second layer: “We Rule You”

Third layer: “We Fool You”

Fourth layer: “We Shoot at You”

Fifth layer: “We Eat for You”

Bottom layer: “We Work for All” ; “We Feed All”

The Truth that is Hard to Swallow ??

As I wrote this post, most people from all walks of life are heavily trapped in the middle of the oil price hike issue. Some were trying so hard to back the government’s move, and most of them oppose such move; while the rest (minority, perhaps) are simply being apathetic towards the issue. As the debate progresses, the intensity and degree of the heat are arising. Demonstrations were also held in certain part of the country, and many more to come in the near future.

Many have come with various possible options on how to survive the price hike. Some of the suggestions were rather very crude and simple such as spending wisely, while at the other end of the spectrum demands total change of the system. Somewhere in the middle, there are people who blame the government of the day for being unwise in facing such issue. Thus, they call for the change of the federal and state governments alike.

The oil price hike is not an isolated issue. In contrary, it is related to the broader aspect of the global economy, of which the main role is being played by United States of America (US). It is not simply a local issue, but this doesn’t mean that the local government is totally innocent. They also must be held responsible for adapting and embracing (read: submitting) to the western Capitalist system (which is based mainly on usury and speculations). I am very sure that some of you will not agree with my statement. I may not have a formal education on economy, but I do have some bits of knowledge that I learned from my friends and fellow teachers in economics. I may be wrong though, hence if I do, please correct me…

By the way, what is the Capitalist system is all about? As the name suggests, Capitalism was derived from its most prominent aspect – Capital, i.e. the accumulation of capital and making money out of money. Most of the wealth generated in Capitalist nations is from the financial sector that doesn’t actually produce anything but provide a service where one can bet on the future price of items. The highest aim of the capitalism is to obtain happiness, by gaining material benefits as much as possible. In this endeavour, Capitalism promotes securitization (trading) of any commodity whether it is real or imagined. Originally the stock market was created to bet on the future movement of the share prices as well as the performance of a company. Thereafter the derivatives market was created which is a ‘casino’ where betting takes place on the movement of the stock market and in the last two decades all commodities can be speculated upon.

The causes

All the price hike of the crude oil, food stock, and other commodities is due to the dependency on US dollars in the fiat monetary system (which forms the backbone of the Capitalist system). Most of the global trades were using US dollars as the currency. By doing this, US will not suffer the economic downturn alone. Instead, she will drag the global economy along the drain. While in fiat system, the value of the money is made out of the thin air. The role that is played by the central bank has caused inflation, or simply said – the money is made out of debt.

But how does the price hikes related to the system?

The unstable value of the dollar has caused panic among the speculators, leading them to put their funds into safe havens such as gold and oil, thus spiking up their prices. Since oil is very important in modern economy, slight changes in the price can adversely affecting the economies. Today oil is used for numerous everyday products across the world, most commonly for powering combustion engines such as fuel oil, diesel, and petrol. Oil is also used as fuel for heating and lighting (e.g. kerosene lamp). The petrochemicals industry produces many by-products such as plastics and lubricants. Solvents (alcohols) are also manufactured through oil, without which there would be no chemicals industry. The free flowing hydrocarbons allow many farming techniques and fertilizations. Hence small shifts in the price of oil have far reaching consequences. It is no wonder when the oil price increased, other commodities and food prices would follow.

Now we can conclude that the sudden oil price hike is not entirely blamed on increased appetite towards oil as some might suggest. (There is one opinion that totally blamed the economic progress China and India for this). Instead, it is mainly due to the market speculation. This is supported by a June 2006 US Senate Permanent Sub committee on Investigations report on “The Role of Market Speculation in rising oil and gas prices”. The report noted, “… there is substantial evidence supporting the conclusion that the large amount of speculation in the current market has significantly increased prices”.

One geo-political expert confirmed ‘Today 60% of crude oil price is pure speculation driven by large trader banks and hedge funds and with the development of unregulated international derivatives trading in oil futures over the past decade, the way has opened for the present speculative bubble in oil prices’.

[W Engdahl, ‘Speculators knock OPEC of oil-price perch,’ Asia Times Online, May 6th 2008.]

Conclusion

I have brought my arguments to prove that recent oil price hike and also increase in price of food and other commodities are not isolated issues. I also have provided the true cause of these problems. All these problems (among others) are caused by the adoption of the corrupt and vicious system, namely the Capitalism. Thus, the only solution is by totally rejecting the system and applying the alternative system which – for this instance – can ensure that there will be no central bank that operates based on usury and also denies the role of market speculation; the system that also put the intrinsic value into our money, based on stable, bimetallic system. The system that I meant is the one that had existed in the history of human civilizations for more than 1300 years – i.e. the Islamic system or, also known as the Caliphate.

Insya Allah, I will share with you on how Islam views and tackles these issues in the series of “Invitation to Islam” in my blog. I do not want to jump straight into discussing the system that is derived from Islamic creed before I completely shared about the creed itself. Because application of the system without proper understanding of its principle or creed that it is derived from is hollow and meaningless. But for the time being, I would like to suggest you to read more on this issue in the e-book “The Global Credit Crunch and The Crisis of Capitalism” written by Adnan Khan. The e-book is downloadable at www.khilafah.com. I referred mainly to this book for writing this post.

P/s: please excuse my terrible English…


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Reminder to All Muslims around the World

“Say: If it be that your fathers, your sons, your brothers, your mates, or your kindred; the wealth that ye have gained; the commerce in which ye fear a decline: or the dwellings in which ye delight – are dearer to you than Allah, or His Messenger, or the striving in His cause;- then wait until Allah brings about His decision (ie. Torment): and Allah guides not the rebellious.” [TMQ Surah At-Tawbah: 24]
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