Materials of my writing this time is to address the Business News Network that discusses the phenomenon of Gold Backwardation in the international gold market.
This is exemplified directly with a very famous saying that Rasulullah Aslim Taslam which means "to embrace Islam was you, surely you will survive (the world and the Hereafter)." (Narrated by Bukhari).
So far, we might have a bad feeling to bring Islam into our friend's apartment nearby, close neighbors, office staff and others. a non-Muslim religion. But the sermon Ustadz Ihsan gives another perspective on this sermon obligations.
Because we believe that Islam is the true religion and we are confident that by this way we will survive in this world and hereafter, are not we too selfish if we want to enjoy it yourself - without inviting people we know (who is not Muslim) to follow it also?.
Compassion for others is what makes the Prophet Muhammad always invited to Islam by the words Aslim Taslam each meet new people who knew. He who wants affection for all those who knew survivors in the world and the Hereafter.
So what relevance this invitation to Islam by the global crisis is happening right now, especially in the gold market phenomenon called Backwardation?.
The answer thus;
The global financial crisis is well recognized by economists, the head of state nor the market makers as the crisis is very, very serious. Obama and his own economic team that many expected the world, stating that this crisis will get worse before eventually improving.
With what the world financial system will be improved? a lively discussion is to replace fiat money is not worth the money with minimal intrinsic no backups are worth gold.That is why the Bretton Woods II, is mentioned a lot. In one night alone last night I watched two television programs that discuss this issue.
The first is his interview with DR. Mahatir Muhammad in one of our national television, and the second is the event at the Business News Network, interviewed John Ing market players - from independent Canadian research-based institutional investment dealer. If you have good bandwidth to enjoy the direct interview.
John Ing reviews the phenomenon that is happening in the world gold market, called the Gold Backwardation; the spot gold price higher than futures prices. Generally, the gold market in contango condition in which futures prices are higher than spot prices.The phenomenon of backwardation is driven by physical demand of gold is high, this is one of the signals that people began to lack confidence in paper money and various other transaction papers and switch to physical transaction.
The phenomenon of backwardation is precisely what makes our price charts on www.geraidinar.com not completely follow the trend of international prices; regular graph we had to do a correction with the physical gold price in Jakarta local market - especially in precious metal prices, PT. Aneka Tambang Tbk. which became our main partners.
At this point you probably can not see the relevance ....
When gold crowded discussed as a solution and start hunting people physically, even by John Ing gold is the antidote or antidote of the crisis that hit the world today - they all really like chasing a mirage.
As I wrote in the article "Gold Enough ...", Gold will be enough and could indeed be a fair money and value is not corrupted by time - but the gold will not be a solution for this crisis.
New Gold will be a solution if the user follows the rules that are very detailed at the only Islamic law. No rules or other law anywhere in this world that govern the use of gold as details of Islamic law.
These detailed rules concerning its use as jewelry (which does not allow Muslim men to use it); ban on hoarding, ban on usury, the drive for gold is spinning and so on.
· Ban Muslim men use gold as jewelry will have an impact on the availability of gold for money, with the only woman to use gold as jewelry alone, my data in previous papers revealed that 51% of the world used gold jewelry. What happens when men come lacquers use this gold as jewelry?.
· Gold banned because regardless of the availability of stockpiled on earth would not be enough when gold hoarding. The implementation of this ban can not be done by the government like in America in the 1930s that prohibits its citizens to save gold, but by an awareness of the community who fear the day late and dis-incentives reduced hoarding treasures from time to time because of zakat.
· The prohibition of usury will push gold to productive activities. Is it related to investment, consumption or for religious purposes infaq on to Allah - this is all going to encourage the circulation of money and moving the production sector and the market.
· Gold or treasure that always turn will make enough to meet the needs of the people, not the number that determines but the round was the one who determines the adequacy of this gold.
The efforts of experts and leaders / former world leaders to push gold as the solution of this financial crisis is the effort that direction is correct, but not enough. Missing link is the only existing detailed rules on the Islamic Shari'a.
Without these detailed rules, the use of gold as a standard such as the Bretton Woods for example-will not succeed.
Because we know that their efforts will not succeed without following these Shari'a - then with our love, we called them to follow the Shari'a, because this is the only way - for us all and they were successful or safe world and the hereafter.
To be able to adhere to the rules of Shari'a - we all must become true Muslims; So here's the relevance of all of us to disseminate this invitation to convert to Islam, this invitation is very relevant when the world was hit by the crisis - and we see that the Islamic solution.
So Aslim Taslam, Come in Islam then you will be safe ...
