Thursday, November 24, 2011

#OccupySF: Muslim protester opposed to interest

Muslim protester in opposition of interest:

" As Muslims we should all be acutely sensitive to the dangers of interest. There is a Hadith from the Prophet (saw) which reads:

“There will come a time when you will not be able to find a single person who will not be consuming riba. And if anyone claims that he is not consuming riba then surely the dust of riba will reach him.” (Abu-Dawood)

My feeling is that this system of fractional reserve lending is that dust, because even if you never take a loan and never pay a cent of interest, you are still losing purchasing power through inflation which is an effect of interest rates set by the Federal Reserve."

Dispatches from #OccupySF | Deen Feeds