Former Malaysian Prime Minister Dr Muhammad Mahathir wrote recently to give his views on this extremely dangerous development. This is what he had to say:
Q E II – 2: The world is being taken for a ride by the great western countries, Dr. Mahathir Mohamad, Prime Minister of Malaysia, 1981 – 2003
1. Q E II is not Queen Elizabeth the Second. It is a term invented in the West to describe printing money to pay debts or to revive the economy. It stands for Quantitative Easing No 2.
2. It is a great way to make money to replace the money that a nation has lost in a recession caused by abuses of the financial system. You just print more money.
3. Actually I don’t think they actually print currency notes amounting to the hundreds of billions of dollars or pounds to replace the money they have lost. The amount of printed currency notes would be huge and be very difficult to transport to the banks which have lost the money. There would be a stream of armoured cars from the mints to the banks.
4. I suspect what they do is to issue cheques in favour of the banks. The amount would be entered in the books of the banks.
5. If the banks need to pay or to lend money, again cheques would be issued or the amount credited to the person or entity in the books of the banks.
6. Should the persons or entities wish to pay for anything, again they would issue cheques. The amount in the cheques would be credited to the accounts of the persons or entities who would than be entitled to issue cheques in payment for whatever.
7. At no time will anyone get or be paid in cash. So what need is there to print money in the form of currency notes. Any time these countries lose money, all they need to do is to issue cheques to whatever amount they need.
8. However this Q E is a privilege for the rich nations only. When Greece lost money, it could not print currency notes or issue cheques to pay debts. Greece needs to borrow money from European countries to repay loans. Again no currency notes would be involved. The amount lent would be credited to the Central Bank of Greece which then would issue cheques to the commercial banks.
9. We hear that banks like Goldman Sachs have recovered and are able to pay back the loans given them by the Federal Reserve Bank. The quick recovery is through borrowing the Q E money from the Fed at no interest or minimal interest and then buying Government bonds. Buying Government bonds is actually lending money to the Government. The Government has to pay interest on the money borrowed, which gives Goldman Sachs a good return. Hence the quick return to profitability of Goldman Sachs.
10. I am not a financial or monetary expert but I would like to hear the experts say that what I describe here is not happening.
11. The world is being taken for a ride by the great western countries and their systems for everything. It is a case of doing as I tell you and not doing as I do. Rightly both the United States and United Kingdom should be bankrupt. To recover they should be selling all their banks, industries and other assets at fire-sale prices. That was what the Asian countries were forced to do after the currency traders forced many of them almost into bankruptcy. But the bankrupt powerful countries of the West don’t have to do that. They carry out Quantitative Easing, print money (issue cheques) and refinance their banks and bankrupt industries. And they talk about transparency in business practice.
Reference to the issuance of cheques today is achieved through the press of a computer button and the fine art of accounting (double-entry bookkeeping of debits and credits).
Kissinger also got agreement that windfall profits that would now come to the Arab oil-producing States from the ever-rising price of oil (consequent upon the ever-falling value of the dollar) would be invested in western banks in what common people recognize as Fixed Deposits. They would invest their petro-dollars in US Treasury bonds for example. Thus petro-dollars would transform them into money-lenders on interest.
I suspect that the quid-pro-quo for this agreement was a secret defence treaty in which USA guaranteed the security of the State of Saudi Arabia.
We are now located at that moment in the historical process when Dajjal is about to transit to the third and final stage of his mission. In Dajjal’s stage one of his mission the world experienced Pax Britanica and the British Sterling Pound as the international currency. In stage two, Pax Americana replaced Pax Britanica, and the US dollar replaced the British Sterling pound as the international currency. Our view expressed in Jerusalem in the Qur’an which was published in 2002, is that Pax Judaica will replace Pax Americana and that a new international currency will replace the US dollar.
We do not know whether that new international currency will be the Israeli Shekel, or whether Zionist bankers will coin a new name for electronic money (SDR or BANCOR). Whatever be the name of the new international currency that would succeed the US dollar, it should be clear that it will be based on the same petro-money foundation as the petro-dollar. This would not be possible without an alliance between Israel and Arab oil producing States – Saudi Arabia in particular. We are now able to understand more clearly why Prophet Muhammad (peace be upon him) made that ominous declaration concerning Najd, from whence the Saudi rulers of that country emerged. He said that “from Najd would emerge the horns of Satan”.
The greatest of all dangers posed by the petro-money monetary system is that it allows the Zionist-controlled banking system to create as much money as they wish. There is no legal limit to the creation of money, the sky is the limit. That wealth can then be used to enslave those who oppose Israel, while enriching those who support Israel. In fact many people in the world already live at the door of that slavery.
The Israelites were fortunate that they did not have to repent to gain the favor of Allah Most High to be led out of Pharaoh’s slavery. Since then no other nation gained this favor from Allah Most High, and even our beloved Prophet (peace and blessings of Allah Most High be upon him) had to struggle to liberate his companions out of oppression and to establish Islam. Only Allah Most High knows how long will slavery and injustice last this time, and what price in terms of faith, health, wealth, and life we will have to pay in order regain freedom under His favor.
We must repent for all the manifest violations of Allah’s Law that have continuously taken place before our very eyes these last 100 years in particular. We must repent for monstrous monetary Bid’ah (innovation) which has embraced us all. If Allah Most High accepts our repentance He may deliver us from slavery by sending the rightly-guided Imam who will unite the Ummah into one solid body to liberate the world from this oppression.
RESPONDING TO THE PETRO-DOLLAR
Since Prophet Muhammad (peace and blessings of Allah Most High be upon him) gave the order that “those present at that time should not touch that gold”, the implication is that Muslims in particular have a religious obligation to stop using today’s paper, plastic and electronic money that is bogus, fraudulent and Haram. If they do not do so, Allah Most High will not respond to change their hopeless condition.
Allah Most High has warned in the Qur’an:
(He believes that) he has hosts of helpers – both such as can be perceived by him and such as are hidden from him – who could preserve him from whatever Allah may have willed. (But he should know that) verily, Allah does not change men’s condition unless they take the initiative, while using His guidance) to change their own condition; and when Allah wills people to suffer evil [in consequence of their own evil deeds], there is none who could avert it: for they have none who could protect them from Him. Qur’an, al-R’ad, 13:11)
We have counseled a strategy of defiance of the legal prohibition of the use of gold as money. However, in view of the possibility of State violence in response to gold being used as money (including gold coins being seized by the State), and since there is no legal prohibition of the use of silver as money, Muslims should now lead the rest of the world in creating markets in which silver Dirhams would be used as the medium of exchange. It is unrealistic to assume that there is any possibility of getting petro-money out of circulation in the world of Islam. Hardly any government dares to defy the Zionists. And the Ulama or religious scholars of Islam have so far refused to declare paper, plastic and electronic money now in use to be Haram. Consequently silver Dirhams will circulate alongside petro-money. What problems are we likely to encounter when silver coins circulate alongside petro-money, and how should they be resolved? No one, perhaps, has done more research on this subject than our next speaker, Hugo Salinas Price of Mexico.