Ali Hasan’s interjection regarding the issue of paper currency
Machine translationRead the Arabic original
onAl-Halabi : As a difficulty regarding the issue of currency exchange.
The Shaykh : The issue.
onAl-Halabi : Currency exchange.
The Shaykh : Yes, that is correct.
Al-Halabi : If it were said today that these dinars and paper currency are no longer backed by gold, but are now backed by politics, power, coercion, and the economy?
The Shaykh : And it has been said.
onAl-Halabi : And it has been said.
The Shaykh : Yes, exactly.
onAl-Halabi : Consequently, this makes the ruling different in its origin. And now, contemporary economic theories confirm this. The business of gold, as they say, is an old model now. I mean, America, for instance, does not have gold, but by its power, iron, and fire—nuclear and military, and so on—its dollar is number one in the world, or something like that. So what is the answer we can give to the one who argues against us with this statement regarding the origin of the issue?
The Shaykh : I think a type of answer has preceded, which is gambling.
Ali: Ah, that is it. So, another aspect, I mean.
The Shaykh : Yes, exactly.
onAl-Halabi : But there is no clarity, as in that we may open the listener’s chest to the truth. We cannot open his chest with certainty. You might say, “By Allah, this is trade,” and he might say, “Trade that loses and gains, or something.”
The Shaykh : No, this is correct, but the statement regarding paper currency is not trade.
onAl-Halabi: Yes.
The Shaykh : Now, you mentioned the American dollar.
onAl-Halabi: Yes.
The Shaykh : That it is the strongest paper currency in the world, and that paper currency follows its country in strength or weakness. Yes, this is a conceded point in general. But I think you know with me that the policy of a strong country itself may sometimes see fit to lower the value of the paper currency.
onAl-Halabi : Yes, that is correct.
The Shaykh : And it may see the opposite as well.
Another questioner : As is happening now.
The Shaykh: Yes.
Another questioner : As is happening now.
The Shaykh : As is happening now. So, the issue falls under risk and gambling. And the previous answer remains within the limits of dire necessity and pressing need. As for...
onAl-Halabi : Confirmation of the words of...The Shaykh : In this issue, it is mentioned that in Brazil, they sometimes destroy tons of coffee to maintain the height of its price and its economic strength, and something like that.
The Shaykh : Yes, exactly.
Another questioner : Allahu Akbar. The methods of politicians.
onAl-Halabi : Ibn al-Qayyim, O Shaykh, has a good word in this in *Al-Turuq al-Hukmiyyah*.
The Shaykh : And it is.
onAl-Halabi : By saying that paper currency, or in this sense, was created or is used for something external to it, not for its own sake.
The Shaykh : Very good.
onAl-Halabi : Yes, not for its own sake. I mean, by Allah, they do not trade in it itself. No, it is merely a means for other needs and requirements, and the like.
The Shaykh : Yes, exactly.
The Shaykh : The issue.
onAl-Halabi : Currency exchange.
The Shaykh : Yes, that is correct.
Al-Halabi : If it were said today that these dinars and paper currency are no longer backed by gold, but are now backed by politics, power, coercion, and the economy?
The Shaykh : And it has been said.
onAl-Halabi : And it has been said.
The Shaykh : Yes, exactly.
onAl-Halabi : Consequently, this makes the ruling different in its origin. And now, contemporary economic theories confirm this. The business of gold, as they say, is an old model now. I mean, America, for instance, does not have gold, but by its power, iron, and fire—nuclear and military, and so on—its dollar is number one in the world, or something like that. So what is the answer we can give to the one who argues against us with this statement regarding the origin of the issue?
The Shaykh : I think a type of answer has preceded, which is gambling.
Ali: Ah, that is it. So, another aspect, I mean.
The Shaykh : Yes, exactly.
onAl-Halabi : But there is no clarity, as in that we may open the listener’s chest to the truth. We cannot open his chest with certainty. You might say, “By Allah, this is trade,” and he might say, “Trade that loses and gains, or something.”
The Shaykh : No, this is correct, but the statement regarding paper currency is not trade.
onAl-Halabi: Yes.
The Shaykh : Now, you mentioned the American dollar.
onAl-Halabi: Yes.
The Shaykh : That it is the strongest paper currency in the world, and that paper currency follows its country in strength or weakness. Yes, this is a conceded point in general. But I think you know with me that the policy of a strong country itself may sometimes see fit to lower the value of the paper currency.
onAl-Halabi : Yes, that is correct.
The Shaykh : And it may see the opposite as well.
Another questioner : As is happening now.
The Shaykh: Yes.
Another questioner : As is happening now.
The Shaykh : As is happening now. So, the issue falls under risk and gambling. And the previous answer remains within the limits of dire necessity and pressing need. As for...
onAl-Halabi : Confirmation of the words of...The Shaykh : In this issue, it is mentioned that in Brazil, they sometimes destroy tons of coffee to maintain the height of its price and its economic strength, and something like that.
The Shaykh : Yes, exactly.
Another questioner : Allahu Akbar. The methods of politicians.
onAl-Halabi : Ibn al-Qayyim, O Shaykh, has a good word in this in *Al-Turuq al-Hukmiyyah*.
The Shaykh : And it is.
onAl-Halabi : By saying that paper currency, or in this sense, was created or is used for something external to it, not for its own sake.
The Shaykh : Very good.
onAl-Halabi : Yes, not for its own sake. I mean, by Allah, they do not trade in it itself. No, it is merely a means for other needs and requirements, and the like.
The Shaykh : Yes, exactly.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.