US Treasury Depts promotion of Sharia-compliant finance.

I couldn't find this as a separate topic titled to underscore the subversive promotion of Islamic Law by our governement, so I'm setting this one up.

This is REALLY scary, folks! More of the "legacy" of the great traitor Dubya; I can just imagine what he & Obama had to talk about...Obama must have been very grateful! Imagine, Bush helps him by starting up BOTH socialism AND Islamic Law practices before Obama is even inaugurated.

Here's more on this treachery of creeping Shariah, from the folks at JihadWatch. The link is:
http://www.jihadwatch.org/archives/023385.php
and text is:

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November 5, 2008
Coalition to Stop Shariah to Protest U.S. Treasury Department's Efforts to Promote Seditious Shariah-Compliant Finance

A press release from the Coalition to Stop Shariah:

Washington, DC: A new interfaith, bipartisan coalition of public policy organizations, human rights activists and religious groups, the Coalition to Stop Shariah, will hold a press conference Thursday morning, November 6, to challenge the U.S. Treasury Department's sponsorship of a training seminar for government employees on managing U.S. financial assets in compliance with Shariah Law. Shariah Compliant Finance is a program that has been described by its leading practitioners as "financial jihad" against the United States.

Leading members of the Coalition will be holding a press conference at the National Press Club's West Room at 10:00 a.m. They will be calling upon the Treasury to cancel the seminar it is co-sponsoring that afternoon with the country's most prominent academic boosters of Shariah-Compliant Finance: Harvard University Law School's Islamic Finance Project.

Thursday's "seminar for the policy community" is entitled "Islamic Finance 101." It will be held in Treasury's headquarters building next to the White House and - judging by the slated speakers - it will amount to little more than a vehicle for promoting Shariah-Compliant Finance. Apparently, there will be no discussion of the seditious nature of Shariah, which explicitly seeks to destroy the government and Constitution of the United States in favor of a global theocracy.

Speakers will include Robert Spencer, renowned author and expert on Shariah law, Jihadwatch.org project of the David Horowitz Freedom Center; Frank Gaffney, Center for Security Policy; Dan Pollak for Mort Klein, Zionist Organization of America; Andrea Lafferty, Traditional Values Coalition, and others. Speaker updates will be listed at www.usastopshariah.org

Members of the Coalition include Concerned Women for America, ACT for America, Institute for the Study of Islam and Christianity, the Zionist Organization of America, Traditional Values Coalition, Center for Security Policy, Endowment for Middle East Truth, Unity Coalition for Israel, Let Freedom Ring, Christian Solidarity International, Tradition Family & Property Inc., Women United, Jewish Action Alliance, Florida Security Council, Society of Americans for National Existence and the Center for Security Policy.

The Coalition to Stop Shariah speaks for peoples of all faiths and political affiliations who do not want to submit to the jihadist doctrine of Shariah. Its members have joined forces to oppose those seeking to impose Shariah's intolerant, barbaric code in America through the stealthy penetration of, among other things, our culture, legal system and capital markets. The Coalition is particularly concerned about the possibility that the Treasury Department will use the vast powers it has been given to cope with the subprime financial crisis as a means of promoting Shariah-Compliant Finance - a fear only heightened by the fact that the host of Thursday's seminar is the same Treasury official responsible for the $700 billion Troubled Asset Relief Program (TARP), Assistant Secretary Neel Kashkari.

The Coalition to Stop Shariah calls on the Treasury Department to cancel this indoctrination session, to cease its efforts to promote Shariah-Compliant Finance and to recognize Shariah for what it is - sedition - and treat it accordingly by, among other things, banning its application to U.S. financial institutions and products.

Coalition founder Frank Gaffney said, "The first campaign of the Coalition to Stop Shariah will be to challenge the Obama Treasury Department Transition Team to repudiate the U.S. Treasury Department's embrace of Shariah Compliant finance. Coalition members are preparing a more credible "Shariah Compliant Finance 101" course for the Obama Treasury Department Transition Team, and for members of the 111th Congress. The Coalition is alerting the Obama transition team and the U.S. Treasury Department that they are endangering America's taxpayers, financial institutions and legal system by this introduction of Shariah law to the United States."

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The follow-up entry is here:
http://www.jihadwatch.org/archives/023457.php
Also, watch these videos from the press conference on 11/6 to protest the :
http://www.youtube.com/user/USAStopShariah
Be sure to watch all 6 of them & support these people who have been vigilant about this for a very long time! :idea: :idea: :idea:

This all makes Obama's job much easier & sets up a precedent that will justify his own probable desire to continue down the same slippery slope to Marxist Islam, which is right up his alley. I don't call him IDIot AMIN for nothin'!

What Is Sharia Finance? Don't Ask the Treasury

by Alex Alexiev
11/12/2008

As news reports trickle in indicating that the overwhelming majority of American Muslims voted for Barack Obama, the Wahhabi/Muslim Brotherhood-dominated Muslim establishment can barely conceal its glee at the prospect of the Obama presidency opening vast new opportunities for radical Islam in America. Whether such hopes are realistic or not remains to be seen. But, in the meantime, the outgoing administration with little fanfare and less notice has obligingly opened yet another avenue for the Islamists to pursue their ultimate objective of imposing barbaric sharia law in America.

The event in question was a Treasury Department seminar held last week entitled “Islamic Finance 101.â€

Thanks, Tex. That was most illuminating! I wish Bush & Paulsen both might choke on a Koran! :twisted:

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purification’ of ‘unclean’ income that must be given away

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Now that I like! :lol: IMO the only way to purify unclean income these days is to give it away to the American taxpayers that are funding this unclean income-producing companies who pay for spas, luxury resorts and hunting trips in England, running major corporations without business plans for the future, offshoring operations and insourcing cheap labor. Now that is what I call unclean income.

Interest in Shariah Finance Opens Dangerous Doors, Critics Say

Thursday, November 13, 2008



Shariah-compliant banking, sometimes called Islamic banking, is growing in popularity in the Western and Islamic worlds. But critics say American interest in the system at a time of economic crisis is opening the door to increased Islamic influence in the American banking system. Worse yet, some fear the banks may be helping to finance international terrorism.

In Shariah-compliant banking, lenders may not charge interest and investors cannot make money from forbidden industries like gambling, alcohol, pork and pornography. Selling debt, devising derivatives and short selling are also prohibited, and investments must be closely tied to actual assets.

In the U.S., the Dow Jones Islamic Index tracks Shariah-compliant companies and funds, and funds have sprung up like the Amana Mutual Funds Trust and the Azzad Asset Management.

American investment funds, like those offered by TD Ameritrade and Charles Schwab, can invest in Shariah-compliant companies, and those companies can offer investments in American companies. Top holdings in the Azzad Ethical Midcap Fund, for example, include Western Digital Corp., Southwest Electric Co. and Apple Computer, Inc.

But allowing Shariah-compliant finance in the U.S. is green-lighting a seditious system that supports jihad, said Frank Gaffney, founder and president of the Center for Security Policy in Washington, D.C.

"If you understand what Shariah is, you understand that it is a pretty awful system. Not something that you'd want insinuated in your society and becoming a major feature of your economic system," Gaffney said.

"Shariah (Islamic law as dictated by the Koran) governs all aspects of life, from the personal practice of the faith to how you relate to your family to how you relate to your business partners, to your community ... all the way up to how the world is run, and it is all one seamless program. You can't say 'I'll take the personal pietistic practice ... and skip the beheading and the flogging and the stoning and the global theocracy,'" he said.

Punishments for some crimes under Shariah law include amputation and stoning to death. On Tuesday it was revealed that a 53-year-old Egyptian doctor had been sentenced under Shariah law in Saudi Arabia to 15 years in prison and 1,500 lashes for allegedly getting a Saudi princess in his care addicted to drugs.

But despite Islamic banking's association with Shariah's harsh practices, the U.S. government is taking an interest in it.

On Oct. 25, while on an official visit to Saudi Arabia, Deputy Secretary of the Treasury Robert M. Kimmitt told reporters that the U.S. was interested in learning more about Islamic finance, and the Treasury Department held an "Islamic Finance 101" course in Washington on Nov. 6 to educate government officials on its ins and outs.

Islamic banking and investment products sprang up beginning in the 1970s when the Middle East experienced its first oil boom, and have been growing in popularity as oil prices soared in the past few years.

Yet it's unclear who is investing in Shariah-compliant mutual funds and other investments, Gaffney said. "An awful lot of them seem to be petrodollar-rich potentates and companies and royal families."

Nicholas Kaiser, fund manager at Amana Mutual Funds Trust in Bellingham, Wash., said that his company's Shariah-compliant mutual fund products are no different from any other religious funds and that the company carefully screens its investors.

"Our shareholders are American. We don't take money from non-Americans because of money-laundering laws. We have to know our shareholders and be sure they aren't engaged in nefarious activities. We screen and check and verify every shareholder," Kaiser said.

He disagrees with Gaffney's assertion that Islamic funds are a threat to the American way of life.

"We simply take people's money, invest it and give it back to them when they want it. We don't try and convert the country. We don't have any religious position. We aren't evangelical. We aren't zealots. We're money managers," Kaiser said. "I happen to be Episcopalian."

Azzad Asset Management declined to be interviewed for this story.

Estimates put the Islamic banking industry in the hundreds of billions of dollars. And while it's a small portion of the global finance industry, the Islamic sector is growing — by more than 30 percent in 2007.

A board of Shariah scholars determines which investments are compliant.

As Shariah law forbids charging interest, Shariah-compliant mortgages, like those offered by Devon Bank in Chicago and Guidance Residential, which operates in 23 states, are attracting pious Muslim buyers.

In one type of Shariah-compliant mortgage the bank buys a home and then either leases or re-sells it to the purchaser in monthly installments — interest-free, but at a higher price.

The bank's profit and the buyer's payments wind up being similiar to what they would be if the bank charged interest, said Ibrahim Warde, adjunct professor of international business at Tufts University.

"In the Koran there's a verse saying that making money from trade is good and making money from money lending is not, so basically whenever transactions are structured, they are sales transactions," he said.

Rachel Ehrenfeld, director of the American Center for Democracy, said that whether they're sound investments or not, conforming to Shariah shouldn't be American policy.

"We should not allow Islamic banking to continue and definitely not to flourish in this country," Ehrenfeld said.

"Muslims in the United States who want to conduct their business according to Islamic banks can do it with mortgages ... but to allow Islamic banking as a rule to operate — it's our money and we shouldn't be abiding by Islamic laws. Period. I don’t want to have any kind of association with any laws that dictate wife-beating in Saudi Arabia," she said.

Ehrenfeld said that the practice of "zakat" — giving alms to the poor — while innocent on the surface can in fact be used to promote terrorism and the spread of radical Islam.

She said that that the money the Shariah banks give to charities goes to build madrassas and mosques and spread radical Islam and anti-American sentiment.

"They also send money to Hamas. They also send money to Al Qaeda," she said. "This is a huge Pandora's box. We don't know what the hell is going on with their charities ... even if nobody will say openly that they're giving money to terrorism."

In June, the Kuwait-based charity Revivial of Islamic Heritage Society was designated by the U.S. Treasury for providing money and material support to Al Qaeda, its affilitates and to acts of terrorism.

"It is illegal for anyone in the United States to provide funds to charities that have been designated by the Treasury Department as supporters of terrorism under Executive Order 13224. If the Treasury Department has information that anyone in the United States were engaged in such activity, we would take appropriate action," said Treasury spokesman Andrew DeSouza.

Warde, however, said that there is no reason to think that all Islamic financial institutions have terrorist ties.

"There are some people who equate all things Islamic to terrorism," he said. "Some people look at the world that way. We've seen that during the presidential campaign with the insinuations that Obama was a Muslim, therefore a terrorist. I don't think we should give much credence to that."

He said critics are not being fair to the system.

"People who don't like Islam and who are afraid of Islam would obviously not like the notion of Islamic finance. I'm not sure that those who hold this view necessarily know much about it, but it's some kind of visceral view that some people hold," Warde said.

Sharia Finance: Last Gasp of a Doomed American Economy



November 11, 2008 | From theTrumpet.com
Forget forced Islamic compliance and the risk of extortion; America may not be able to survive without sharia money. By Robert Morley

Over the next year, the U.S. government will need to borrow somewhere in the neighborhood of $1 trillion, the most ever by far. Estimates go as high as $2 trillion, depending on how quickly the economy cools and how fast tax revenues fall. The simple question most of America has not asked is this: Where is the money going to come from? The federal government already knows the answer to that question, and it has implications Americans are not ready for but will soon be faced with.

America is going cap in hand to Middle East oil exporters. What government officials are not telling you is this: Islamic money comes with strings attached. Yes, sharia law “stipulates that money must not be used for a purpose incompatible with Islamâ€

Here they go again...back in time!

Here's a real good explaination of how this crap works:
http://www.youtube.com/watch?v=VmRbu...eature=related

BACK TO THE FRIGGIN TOP--Please watch this video!
http://www.youtube.com/watch?v=VmRbu...eature=related

Thanks, Rockfish! I will be passing this video link along to my other contacts.
8O :!: :idea:

BTTT

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Originally Posted by Rockfish

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Don't read this if you scare easily

CCUSA posted

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Wall Street is broken, and Treasury officials realize the size of the crisis may exceed the government’s ability to contain it. As a result, the Treasury is doing everything it can to make foreign money available.

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As banks borrow and lend and borrowers borrow from those banks, each time money exchanges hands, the enforcement of Sharia law will be there :evil: :evil:

[quote]“Sharia-compliant finance serves as a leading edge of the spear for those seeking to insinuate sharia into Western societies,â€

From: "The Washington Times"
EHRENFELD/ABADY: Islamic banking
Is Treasury complicit?

Rachel Ehrenfeld and Samuel A. Abady
Thursday, December 11, 2008

OP-ED:

If "cash is king," then Middle East coffers are irresistibly enticing. During a recent tour of Saudi Arabia and the Gulf states, Deputy Treasury Secretary Robert Kimmitt applauded the "growing role" of Arab banks in the U.S. economy. Treasury is seeking buyers for its newly acquired bailout assets because more than $1 trillion in cash is urgently needed to rescue the largest U.S. banks.

However, cash from the Arabian Gulf comes with a vital string attached: Islamic banking, erroneously viewed as an ancient practice. In fact, Islamic banking is a newly invented institution: "Neither classical nor medieval Islamic civilization featured banks in the modern sense, let alone 'Islamic' banks," notes Timur Kuran, professor of economics and law at the University of Southern California. According to the Dinar Standard, "assets managed by Islamic banks are in excess of $700 billion - predominantly concentrated in the Middle East."

Islamic banking took off in the 1970s, but was first concocted by Muslim Brotherhood founder Hassan al-Banna in the 1920s. The stated goal was to penetrate the Western finance system, corrupting it from within in hopes of creating a parallel system to re-establish a global Islamic empire governed by Islamic law (Shariah). Islamic rules of commerce (fiqh al-muamalat) forbid interest (riba) and investing in a prohibited (hara'am) enterprise. They also mandate tithes on wealth (zakat). However, the Koran fails to precisely define these concepts. Imams and ayatollahs differ, for example, on whether riba prohibits all interest or only usurious interest.

While the overhaul of American and Western banking regulations is urgent, Islamic banking cannot be the answer because Muslim clerics - not U.S. laws and regulators - make the rules. In 1969, the Saudis created the Organization of the Islamic Conference (OIC), which is now leading the charge for global expansion of Islamic banking and has established new regulatory, accounting and auditing organizations to govern such banks. Notably, the OIC's charter is to "liberate Jerusalem and Al-Aqsa [mosque] from Zionist occupation."

Not surprisingly, zakat from Islamic banks often funds terrorist groups like the Muslim Brotherhood's Hamas. That organization's agenda was exposed during the Dallas trial of The Holy Land Foundation, a Hamas front group and an American Muslim charity just convicted of terrorism crimes. Evidence of the charity's true purpose included an 18-page "explanatory memorandum" outlining its "strategic goal … that all their work in America is a kind of grand Jihad (holy war) in eliminating and destroying the Western civilization from within."

Sharia financing forbids loans to entities labeled hara'am, such as industries that use alcohol, and to all Israeli businesses The Arab League Council established the boycott against Israel on December 2, 1945, (more than two years before creation of the Jewish state). The boycott prohibits all Arab states, companies and individuals from any financial or trade relations with Israel. Companies worldwide are blacklisted for doing business with Israel, as are companies doing business with boycotted firms. The OIC high commissioner for the boycott of Israel coordinates the efforts of its 57 member states from the Central Boycott Office in Damascus.

In response, the United States made it illegal for individuals or companies to cooperate with the Arab boycott. The law mandates reporting of boycott requests and imposes civil and criminal penalties against boycott participants. Arab boycott requests have risen sharply in tandem with the U.S. financial crisis and the rapid growth of Islamic banking. The Commerce Department's Bureau of Industry and Security reported a 20 percent increase in Arab boycott requests overall from 2005 to 2006, and the Congressional Research Service reported 24 boycott requests to U.S. companies in fiscal 2007 from little Bahrain alone.

On April 5, 2006, Congress unanimously condemned Saudi Arabia for its continued enforcement of the boycott - which violated commitments the Saudis made to the World Trade Organization in 2005. Nonetheless, last August Saudi Arabia and other Gulf states threatened to boycott Nissan, which aired a commercial on Israeli television promoting a fuel-efficient car, and demanded the Japanese carmaker's apology. Not a word from Washington.

Instead, the Treasury Department, hungry for petrodollars, is holding seminars to promote Islamic banking and U.S. taxpayers are footing the bill. This practice must stop. Islamic banking corrupts our financial system, enables the illegal Arab economic boycott of Israel and entangles government with Islam in violation of the First Amendment's Establishment Clause.

Rachel Ehrenfeld is director of the American Center for Democracy. Samuel A. Abady is a civil rights lawyer.

http://www.washingtontimes.com/news/200 ... c-banking/