Shadee Elmasry – NBF 203 Affairs of the Ummah
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salam ala Rasulillah while early he was happy to Manuela, we're
gonna have a mini stream today
we had a couple of reasons to be late and as usually happens is
Ramadan is a bit of a wacky and crazy schedule that's how it is
but we'll try to get something going today and we got a little
bit of a stream today so we're going to do our dua we'll start
off with our da if you're Walmart when you're ready with that tell
me we'll start with our dua for Wednesday, we will read some
affairs of the OMA the collapse the shifting away of the dollar.
Are you familiar with this? Are you aware of this? Like this is
one of the biggest things that's happening that no one's talking
about.
Now like Saudi Brazil, India, they're no longer going to use the
dollar
you want Yeah, yeah, I saw that. Yeah, they're either gonna do with
their own currency directly or they're gonna go with the yuan and
that's something that sounds like a bit abstract for a lot of people
but the actual impact of it is probably worse than a war Yeah,
the to do that too. And then the hilarious thing Biden spokesperson
comes up and says we will not stand this is against Americans
rights.
Are you like seriously in another world? Seriously in another world?
Okay, we're ready for the dot.
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All right, listen up in a little bit, we are going to zoom and
we're going to be with oh you close it
yeah, sorry about that in a little bit. We are going to zoom and we
will be
we're going to be on U of T
we're going to be on the University of Toronto MSA
operation Okay, so
just join us there but let's read our quick story here
on the currency and let me pull that up real quick
who's there Hamadani is that you?
So that give her what you up to
Alright, let's get the just the quickest breaking summary breaking
news on on this
this is going to be something where like
it's one of those things that goes unnoticed not really much talked
about in the mainstream of the world.
Where I've Been where you going?
Yeah, consider what is going on. Why are they screaming like that?
Weirdos is that
Bloomberg can't read it paywall.
Okay
so everyone makes sure you hop onto the Zoom link that I just put
up there. Okay.
You don't have to register for anything.
Just go to the Zoom link, because
we're going to go there in a little bit to talk to
the University of Toronto students. Since World War Two, the
US dollar has been the world's strongest currency. What does that
mean? It means that because the people believe in the stability of
the United States, that's really what it is. It's essentially
trust. They trust that the United States they're stable, their
currency is going to be stable. They're working, they're producing
stuff, they're producing wealth. Okay. When two nations trade, they
usually trade through the dollar. Okay, so when they make a deal of
some sort, the currency in the middle is the dollar. Well, what
does that mean? That means more people are buying the dollar. So
that further boosts up the dollar and this has been the case since
World War Two.
Okay. And but economic
Experts far and wide are now warning that this power is waning
in a severe way. Now, people also Americans, we just live with the
assumption that we got the greatest country in the world and
it's the strongest power.
And not like that's something that
can be can go away. And the weird thing is, this is the most
important thing. The most important factor that would cause
a currency to decline is that nations governments will not trade
through it anymore
when they deal with other nations.
All right, Breitbart economics editor, John Carney.
I don't know why they're setting him but warned that the dollars
feeble valuation could be a serious threat to the US is
crucial influence on the world stage, Russia, China may be
preparing a new gold backed currency.
They want stability, but experts assure the US dollar is still the
safest. Okay. That's what some said.
It's not only that's, by the way, that was a headline, another
headline. It's not only a serious threat, he's that he says it's an
inevitability. We went through three stages. As you said, after
World War Two, the US was the biggest economy in the world. In
the 70s, global banking became basically dollar Central. So when
you with the fall of the Soviet Union, the entire world, more or
less came under the * of the US dollar is the most trusted
currency. We're going to trade through it. That is now drifting
away, China and Russia are starting to build an alternative
block of currency. Okay. economic experts comments come in response
to China's ongoing effort to disband from the dollar. They
began the strategic process of D dollar rising their business
dealings during Russia's invasion of Crimea.
Okay, well, Kane reported that as a result, 3% of reserve portfolios
are currently sitting in the Chinese you want. Over the last
two decades, the US dollar has lost 12 percentage points of
market share falling from 71 to 59%. According to the IMF, Kane
subsequently asked, how viable is China's alternative?
I don't think in the long run, that the yuan is actually a threat
that is ever going to become the dominant currency of the world
because the Chinese Communist system is not open enough. The US
system is very open. Other countries can trust that our
reserve currency that we're not manipulating it.
So I don't think China is going to become the dominant currency, he
says, and I think Europe, all right, and our closest allies, and
Japan will remain on the dollar. And I think that the Saudis and
most oil countries want to have a good relationship with the dollar.
However, I think we're going to have alternate blocks that we
haven't had for a long time.
Carney further argued that the US choosing to actively dwindle, its
trade deficit with China will economically benefit the nation's
economy and bolster the strength of the dollar. Okay, a whole bunch
of blah, blah, blah, basically summaries there is that
the US dollar is
when it when it when people stop trading in it, you're going to
notice that it's so it gets weaker. And when it gets weaker,
you're going to have issues inside the country. Because once you have
situations of
not going to say poverty, but I'm going to say
prices are going up and prices are going up in an insane way. The way
prices are going up.
Let me just tell everyone here to come at 310.
The way prices are going up is pretty absurd. If you look at the
cost of livings everywhere, people are moving to places like the
south Atlanta, but then salaries are also lower. Go into Atlanta
and go into Texas only makes sense if you have an online business.
Right or your salary is going to be matching because people go to
those states and they see homes. We huge lawns going for 250 K and
a swimming pool and they go crazy. We got to move here. Yeah, but
your salary is also less two
unless your
wealth is coming from an online
operation. Okay. All right. So as I said, we have a mini meat we
have a mini stream today.
Go to the link I just posted the link I'll put it again. Okay, I'll
put it up again. We're gonna go here as soon as we log off
Here, we're going to the university to Toronto MSA to give
a talk on the heckum of IB and I thought, okay, if you're on
Instagram, you're listening on any other. Good. Go to
YouTube
and get the link from the chat. Okay, we put the link a couple
times.
All right, that's where the link is. And that's where we'll have
the rest of our stream today. Now, I think it's so important
to have a believers worldview when it comes to wealth, okay?
To have a believers worldview, when it comes to wealth, life is
good, life will be good. Alright, provided that we are in obedience
of Allah and His messenger and in much remembrance. That is a
guarantee. Fella, no he or no higher than tayyiba, those who
believe and do good works.
And have a good opinion always of Allah who maybe namah Tierra
Bacova Hadith and are always speaking the good. And I do also
feel that there is some worth to this because it does
prove in a sense, disobedience leads to poverty.
And we are going so far off the fitrah.
And I have a personal challenge to myself, I'm not going to speak
about certain subjects that I used to always usually speak on from
this goes on to next, I will see if I can do it.
Right. It's just become insane. It's become too much. It's their
interface all day, and all night. And they're controlling what we're
talking about some. So I don't like the feeling of being like
manipulating control like this. So I'm not going to talk about it.
But that stuff. General disobedience of Allah always leads
to poverty. Why is it lead to poverty because disobedience of
Allah to Allah leads to lack of discipline, it leads to your whims
taking over. Right, that's what it leads to. And resulted that is
that.
It that trickles down into regular life. Okay, it starts out with
your beliefs and your morals, but then it trickles down into
everyday life.
Melody says, not a bad idea, a basket of currencies, you know,
the concept of the basket of goods. The best way to measure
like wealth, or to be stabilized wealth is to get a basket of
diverse goods. If you ever get to retirement, a retirement fund
what's what stocks are in their retirement fund things from all
across the industries, you will have stuff that is like tech, and
you have medical, and you have agricultural, and you'll have like
maybe oil and gas companies, and you'll have back end businesses
there are so many massive back in businesses that
you'll never hear about, like, for example, who's produces the steel
for buildings? Who there are, there's stuff that's needed in the
steel.
Stuff that you when I when I looked at some of these things
that I'm involved in, like What in the world's companies this who
would even know this stuff exists? The stuff that goes in the stuff
that makes that's like behind our ceilings and our walls, okay, that
you'll you'll just never in your life as a regular consumer ever
buy it. But it's a massive business. And it's stable. Right?
Because there's not a lot of competition, right?
There's not a lot of competition in these in these industries that
are behind the scene industries. So we when people look at stocks
they tend to look at, and when they look at the production of a
country, they tend to look at what consumers buy, like Apple, Google,
Samsung, well, there's so many industries that are behind the
scenes that are business to business, that that are also a
source of stability.
So that's the idea of a bundle of goods. And let's say let's take
this as an example. Someone says I'm going to lend you 50 grant or
two grands a decent chunk of money, you're not going to get
your money back very soon. You may get it back in 10 years. Let's say
the guy says I'll pay you back in 10 years you're doing me a big
favor. Well in 10 years 50 grand is not worth
what it is now. So people are upset about this and they said
this is why they want interest. Okay, they want to to take
inflation into account when you pay me back. Well we say that's a
debit. They said well how do I get my fair amount of money by the
value of my money? How do I get that back? We say that you pin the
loan to a bundle of goods. Okay, so bundle of goods you mean
alright this much gold, this much silver, this much grain this much
Ship gas, this much the value of that weight or measure of those
commodities. See, yeah, who's got it? All right, he says you got to
lend a basket of commodities. So right now, this measure of
commodities is worth 50 50k. And I'm not lending you 50k, I'm
lending you this value, this amount of commodities of a diverse
range of commodities, then
we might we monitor that somehow, you can create a little piece of
software that monitors the value of these things. So if oil was to
go down, sugar would to go up. If gold was to go down, Silver was to
go up, silver hardly moves, but that's how it would work. Okay, so
that where it would things would even out at the end. And in 10
years, you get pretty much the same value.
Oh, no, almost. They want us at 315. Yeah, 315. Yeah. So you can
just delete those things that for? Sorry, it wasn't clear.
Does that make sense? Does that make sense? The basket of goods,
the bundle of goods? Does it make sense to you? Right? It doesn't
make sense to you yet. All right. So if I lend you 50k Right now,
and it's the year 2023. And you say I'll pay you back in 20. By
2030 $50,000 is not worth the same amount of money. It's not the same
value, sorry.
The value goes go down. So what I can buy with 50k. Now I can't buy
a 50k in 2030.
No, 50k $50,000, right. So if I could buy like two Honda's right
now, I can't buy two Honda's in 2030 to 50k, the value goes down.
Because it's because deflation, the the devaluation of the
currencies, always. It's steady, right? So how do I get my fair
share of value back? I get my shear fair by saying listen,
forget this. We're going to do a bundle of goods from diverse
facets industries of life, that if one was to go up, the other was go
down, it'll even out.
You see? Yeah, so I'm not lending you 50k I'm lending you this value
of these diverse commodities, like things that are unrelated gold,
silver, sugar, oil,
things that are far across the board. So that if we had a house
up if the market crashed for gold, it wouldn't crash from sugar.
Right? You see what I'm saying?
You're following along? A spectrum. Yeah. opposite spectrum.
diverse spectrum.
Yes, yes. A measure of these commodities
buy.
I'm gonna give it to you and the value of this in cash right now.
Right, but the what I'm loaning you is this value, this chart that
we made or this table that we made, okay, right now, it's valued
at 50k. So I'm gonna give you 50k.
In 2030, when you pay me back, you're gonna pay me the dollar
amount that this list of stuff equals, you see what I mean?
No, equivalent to the chart of the bath bundle of goods, because that
way I get them that might share value back. Does that make sense
to you? All right. Do we have to go now?
Crazy, crazy, crazy crazy. What a short stream. This has been. How
long has how many minutes we've been on? This is a record. While
everyone let's go over to
I'm going to put the link again. Let's go over to the U of T
chat actually ran out so you put it up.
The link is pinned on the YouTube. Thank you very much Subhanak hola
como Byham dekhna shadow Allah Illa Illa and iStockphoto Kana to
Boyd eek. Well asked in Santa Fe host Illa Allah Dena Manu, I'm in
Australia.
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