"This 'demon' governs current global relations, condemning most of the world population to living under the sign of debt: i.e., each person born in Latin America owes already $1,600 in foreign debt; each individual being conceived in Sub-Saharan Africa carries the burden of a $336 debt, for something that its ancestors have long ago paid-off. In 1980 the Southern countries’ debt amounted to $567 billion; since then, they have paid $3,450 billion in interest and write-offs, six times the original amount. In spite of this, that debt had quadrupled by the year 2000, reaching $2,070 billion."10
Islamic scholars have been seeking to devise a global banking system that would serve as an alternative to the interest-based scheme that is in control of the world economy, and Iran has led the way in devising that model. Iran was able to escape the debt trap that captured other developing countries because it had its own oil. Few Islamic banks existed before Iran became an Islamic Republic in 1979, but the concept is now spreading globally. With the fall of the Iron Curtain in 1989, the viable economic model that threatens the global dominance of the Western banking clique may no longer be Communism. It may be the specter of an Islamic banking system that would strip a private banking cartel of the compound interest scheme that is its most powerful economic weapon.
President Bush assured allies before his Mideast trip, "It’s important for the people in the region to know that while all options remain on the table, that I believe we can solve this problem diplomatically, and the way to do that is to continue to isolate Iran in the international community."11 Isolate Iran from whom? Isolation is something that is done to prevent contagion. The contagion to be contained may be the creation of an Islamic State pursuing the principles of Sharia law, something that is now the rallying cry for many Muslims around the world.
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
