Category: Past Events Published Date
Date: 10 Oct 2008
Title: HOW THE BANKERS WON THE WORLD - A film showing plus discussion
Speakers: Tarek Diwany (islamic-finance.com), Rev. Peter Challen (Christian Council for Monetary Justice)
Event Details
Given recent events related to the "credit crunch," perhaps it is now time to re-examine the foundations of our banking system and money supply.
What is money today? How is money added to the economy? How is it that the UK government does not have much money for schools, hospitals and public services but yet manages to find tens of billions of pounds to save private banks?
Does the global financial system, by its very nature, contribute to crippling, unpayable national debts, rising food prices, the destruction of the environment, and wars over natural resources?
Both speakers argue that fractional-reserve banking based on fiat money (money with no intrinsic value) must be abandoned in favour of a return to intrinsically-valuable money such as gold and silver. The current rush by investors to buy gold, as has always happened in times of banking crises, would suggest that this is a natural solution. But is it viable in the modern world?
Join us for a fascinating discussion about a critical issue for the whole world.
TAREK DIWANY worked as a city financier and later in the "Islamic banking" sector for many years. He is the author of the best-selling book, "The Problem with Interest" and runs the website, www.islamic-finance.com. Some of his articles have been published in the Financial Times.
REV. PETER CHALLEN runs the Christian Council for Monetary Justice, a group set up in the 1970's after a Church of Scotland report into the modern financial system concluded that the latter was "fraudulent."