Friday, October 24, 2008

THE PARTY BEGINS - I'M LOVIN' IT

THANK YOU Lehman Brothers for starting the PARTY. As this blog is community centric, I will be writing only from our perspective. We are a trading community, so every one is well aware of the implication of the recent economic meltdown.

But you will be wondering why I am going out of my way, thanking Lehman Brothers Be ready, I am in the best Party mood now, so you are bound to notice, a little change in my style of writing this post.

AQA MOULA (TUS) had been telling all along, particularly with great emphasis after Al-Multaqul- Fatemi-ul- Ilmi 1398H (1977-78). I will not go into the details. Every one is well aware of, and his keynote address is on record. Syedi Sadik Ali sahib had said it long back, in his most inimitable style, in nashihat after nashihat. But pray who was listening.

Foreclosure, insider trading, forward trading, leverage, mortgages, investments parked in different weird financial products, that few really understood, were ruling the minds of, sorry to say, many of our own community members, many, sorry to say who were regarded as Intellectuals, purely on the basis of the assets they possessed. They strutted around on community platforms and forums. The Fatemi attire was all in place, the platitudes, outward pretence, was all in place, but inside something real was missing.

It is Lehman Brothers who have proved Aqa Moula (TUS) right by going bust, and starting a tsunami all around the world, leading to carnage, blood bath, rising and falling like gigantic Mexican wave, that has rumbled through the global markets, ripping pockets and reputation.

Here in this post I am only concerned with the reputation and ripping of the pockets of our community members. If any one cares to read my blog profile, they will come to know that ‘social work’ is my passion. I do not myself know why, and although I get a lot of ‘stick’ at times, I continue to indulge in my passion.

Now when many of our own brethrens, termed paper wealth parvenus (as put in by The Telegraph Friday 24th) are at the risk of turning into paupers, how can I remain immune. All these years, it has been my lot to reach out to all those, who somehow came to me for medical aid, educational aid etc: and although I have failed many a times, I have tried to assuage a few, by seeking financial help from donors.

So my immediate concern when the economic meltdown story made the headlines, was towards our brethren. I am a real dud when it comes to understanding economy, and matters of finance. However, the plight is such, that I have skipped work today, just in order to find out, if I can be of any help to my fellow mumineen.

I am so very pained to see their sullen faces, and I want to reach out to them, in this time of their need. So in order to understand the reason I simply googled ‘the main reason for the economic meltdown,’ and thousands of links popped up on my browser. As I told you earlier, I am real dud, when it comes to matters of finance, I was simply overwhelmed by the statistic and data, but it was my passion to reach out to fellow mumineen, who are in ‘real soup’ mumineen, who are with each passing day seeing their investments dwindle, mumineen who cannot fathom what is happening, why it is happening, so I tried my level best to understand the root of the problem.

After spending nearly six long hours at the computer, skipping lunch, and being reprimanded by my wife, for being good for nothing, pursuing matters, which least concerns us, I finally found the answer. If you are diseased and once you come to know the cause of your illness, chances of your recovery will be fast. So first the prime cause, has to be ascertained. After much effort and pain I have found out the real cause of this economic meltdown. It is my dear friends



THE GREED OF MANKIND TO ACQUIRE WEALTH

Are you surprised at this simple answer, arrived after so much research. Believe me, this is the truth friends, and remember, truth is always simple, falsehood is more complex ( read the earlier paragraph starting ‘ foreclosure, insider trading etcJ

Hope I have made my point clear. What I have found out after so much painstaking effort, had already been around for so many years. Rasulallah (S.A.) Moulana Ali (SA) Imams (SA) Doat Mutlaqeen (RA) and our beloved Aqa Moula (TUS) has been saying it all along.

But it needed a Jewish family controlled firm LEHMAN BROTHERS to emphatically bring in the truth to our believing mumineen, by going bust.

Hope I have made my point clear. More about Lehhman Brothers in future post. I would like to get views and opinions on my post, and any one brave enough to write, how the meltdown has effected his holdings. They need not disclose their name, only an admission from them will suffice.

10 comments:

Anonymous said...

We mumineen are very fortunate and indebted to have a leader as our Aqamola Syedna Dr Mohamed Burhanuddin [T.U.S.].He regularly gives us guidance and advises for our benefit with upliftment.If you adhere your entire lifestyle leading a lifestyle of “ Hayadh Tayibath”and as per his farman and khushi then in Duniya plus Aakhiraat there should be no need of any worries or misfortunes. Aqamola is ultimate doctor of all our necessities, requirements and problems arising.You are safe sitting in his Hakul Dawah’s Safina without any problems whatsoever.On the other hand you want lead a lifestyle according to your own principles and decision. Then the consequences will be not only 1 party that will begin but will be followed by numerous one after the other instantly.Likewise one muharamat leads you to another without any hesitation or warning.

Concerned Moomin Bhai.

Liz said...

Well, I'm not sure it's greedy to acquire wealth -- I just want to invest to have money for college and for retirement! I don't think that's greedy. The causes of this meltdown are many, with many horrific ramifications for many of us. Jose Roncal and Jose Abbo have written a great book, "The Big Gamble," that essentially points out that "investing" is really "speculating." The book gives a fresh perspective as to what "speculation" AKA "investing" really means. But you'll also learn good financial advice. It's very useful.

MH said...

Its your intention to invest that counts and where you invest. Investment per se is not bad and infact encouraged and for economic growth is necessary. BUT if you invest in STOCK MARKET which has become a big Casino and akin to gambling and in companies which do not do business in "HALAL" way then your temporary gains will lead ultimately to the present situtation and all your investment and your life savings will be siphoned off to a few who are manipulating the market.
But alas memories are short and when the this drema is played out and the stock market bounces back the "investors" will be back and the cycle aka THE PARTY BEGINS once again.
MHTopiwala
Singapore.

Shakir said...

It's nice to read about 'economic meltdown' in your posts but the point is will people take this simple and plain truth seriously. I strongly say NO because the times are bad for people who were greedy in acquiring more wealth. Soon they will be back again in market with their greed and might to acquire more than what they have lost in this meltdown.

MIND MINTS said...

Dear Liz, (or whoever)
to acquire weatlh is not at all greedy, and acquring of wealth is a part and parcel of our Deen.

The basic question is, how it has to be acquired.

The economic meltdown, has brought into focus many factors and has proved beyond doubt,that what Aqa Moula (TUS) had been saying all along, to avoid overtrading, avoid speculation, not to depend on 'paper trading' and have fatih in Allah and not the stock market etc: etc:

In my earlier post on 'Call Centre jobs' I had quoted a news report, where a muslim had taken up employment in an English Club, and within years, he graduated to becoming the most sought after bartender for the patrons of the Club, he was known for his poke steaks, and his son joined him also.

Nothing wrong in making a living, but from our community prespective, how we make a living counts.

The other day I was discussing with my friend Mohammad Rangoonwala, and he made an interesting point.

WHY GO TO A BAR TO DRINK A GLASS OF WATER !!!! Precisely the problem lies here.

I am a great admirer of our Prime Minister Dr. Manmohan singh. His policies and decisions are for the common good of the people in general, but as with all Govt: Policies, which are excellent on Paper, are derailed by greedy cacaus.

In a recent interview he has blamed the economic neltdown on 'casino capatilism' he has hit the nail right on the head. He admitted that speculators have had a free hand for far too long, and although India has enough built in stabilization, it is not in control, as bigger players are out there, saving their own skins, and we are the victims of quick fix measurers adopted by them.

So my dear Liz, to invest to earn for a decent lifestyle is all fine and noble. However, you will have to agree with me, that the present state is on account of GREED !!

Thanks for your book recommend, and I read the blog entry, and in it Donald J. Trump has said it very rightly that - ' the first mistake people make with financial decision is to confuse investments with speculation'

It is precisley to safeguard mumineen, that we are told not to go to the bar to get a glass of cold water, nothing wrong apparently, but who knows, may be we may fall 'in line' someday. Thank You - Lehman Brothers, for sounding the 'wake up' call.

MIND MINTS said...

Bhai Shakir,
you may be right, but with respect to our community, a strong message has been received, by those who were in doubt, who were lured into making it fast and easy.
In the process what happened, was that they lost on many opportunities of receiving 'barakat' by spending some of their surplus fund for good causes.

Real Estate investments in our community is of a very sizable nature. The rates of real estate is also going to come down drasticaaly, once the builders lobby, which is holding forte, as of now succums under market compulsions.

In the past approach any one for funding of a good cause, and you would have received a likely reply, that see my funds are blocked in buying of 2 flats, I am anticipating a good return on the investments, the value is going up.

If you approach him after a few months, thinking he may have sold of the flats, and now will be having funds to finanace your good cause, you will be surprised to receive an answer, that a investing opportunity presented itself, and he has sold his 2 flats and bought another big property, and has 2-3 lac short, could you help in arranging that amount. !!!!

The cycle so continued, the value of the assets increased many folds, untill Lehman Brothers did them all in. Sorry but I am in real party mood, for I have experienced bad times, when Lehamn Brothers and their ilk were fooling the world.

Sorry to say many of our community were lured into a trap, and now the real truth is staring right at their faces.

No doubt I am feeling sorry for them, but the economic meltdown is proving to be a good medicine, to bring back people to their right senses.

moiz said...

Neither it is a time for party nor it is a time to be angry. It is a time for realism.That is to say that the belief that matters has actual existence.
Now do all of us not need to find time, if it is at all a time to ponder on our belief and belief-system granted to us eternally by the chain of recognised prophets and books of Allah, of course last among them being Rasul-e-Akram Nabi Mohammed S.A. and Al-Quran Al Majid. ? As Al Quran Says: Ahallahul baiaa' wa harram-ur-riba. Baiaa' ( vepaar) is Halal While Riba (vyaaj) is Haraam. It further says: Maysar (Jugaar) is an act of Satan (Shaitaan). Why Baiaa' is halal / Because it involves exchange of product with money. Why Riba is Haraam / Because it breeds money on money. Neither Shares of any kind nor the financial investments which generally and perceivably or jointly and severally we talk about involves any product in its real existence. It grows and falls on its own fictious values accompanied only by speculative overtures. Thus it carries both Riba as well as maysar (jugar) in its ambit in its own inimitible style and methods. The prices of the product do not get afffected per say it either goes down if the value of the share Certificate given in lieu of it increases thereby benefitting the actual consumer or user or goes up if the value of the Share certificate decreases in the stock Exchange -A CASINO in its own right as it is riughtly referred to by our P.M. Mr. Manmohan Singh. He said by quoting John Meynard Keynes : If capital development of a country becomes a by-product of activities of Casino, then the job is to be ill-done (The Telegraph 24th Oct. 08).On the contrary investments in gold and land directly interacts in reality with with the rise and falls in its prices. Can we not do away with Jose roncal and Jose Abbo with this simple investment methods ? MOHAMMED RANGOONWALA

Anonymous said...

Well the article is very timely and true enough to force us everyone to go for self introspection.I agree with the point that aquiring wealth is not Greed-because i believe aquiring wealth is a intrinsic human basic instinct(to survive and excel).However the means and limits can be variable and topic of open discussion.Here is where we need to heed to the spiritual guidance-which thanks to our Maula is readly accessible.So everyone to themself time to ask-i stand where?

Dr Aliasgar Lokhandwala
AbuDhabi

Huzaifa said...

I wud love to sound funny rather than diplomatic... its sad they have got burst but we have got good reason to prove the world that interest-based business, or what-they-say Financial planning is not-at-all burst-proof... Khuda Aqa Maula ne ghani ane ghani jazaa-e-Khair aape... Ameen

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