Comments by "Omer عمر" (@Omer1996E.C) on "Turkey In 2023 - An Economy on The Brink?" video.

@untitled6391 according to Islam, having an interest based economy is the problem itself. Governments should stop controlling their people's money, this authoritarian thing is unislamic
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@untitled6391 this is not funny, because what Islam says and erdogan is going, are 2 different things. Having low interest rate is as bad as having a high interest rate, then why commit a sin of usury and harming the people at the same time
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This is a lie
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@kth6736 this is the real free market. You love economic boom, but you hate bust. Still, you shouldn't make an artificial government act to resist a recession, it can be painful, but it is a natural corrective event, where inefficient producers and consumers lose (but in real life, lobbies convince the government to pump stimulus packages to rescue themselves), thereby removing the most inefficient and harmful economic agents, and the economy would start fresh, with cheaper resources available for newer, smaller and more advanced industries. Play with free market, don't play on it
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@rohankishibe8259 whatever is your thoughts, you have to believe that having a low interest rate is as haram as higher interest rates. The haram is in the interest system itself, not the interest amount or rate. Government control over people's money is known to be unislamic anyways. And the Islamic sharia came to preserve 5 things, namely religion, wealth, life/health, dignity and genealogy. And the second pillar, wealth, is being destroyed by erdogan. Which makes his acts very unislamic
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It's evil. But the solution is not having an interest based monetary system, and lowering interest rate
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@موسى_7 islamically, having a high interest rate is as bad as low interest rate. What should be done, according to Islam, is having a totally Islamic banking system, or most favorably, having a currency that is backed by a strong asset, or the asset itself (like the old Islamic dinar or dirham), and government shouldn't control its people's money like this, this authoritarian thing is unislamic
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Who said it was?
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@danielcpt3819 since you are hearing, answer me pls
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@ling636 evil or not, this is not my subject. What I want to say is that what erdogan is doing is unislamic, but he's deceiving his people who are poor in Islamic knowledge, since the fall of the ottoman empire. The root cause of his ability to lie to his people is having a long aged secular education
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@guydreamr have you ever heard of a currency that doesn't depend on Central banks, and about Islamic banking. Are you ignorant or just ignoring facts? Have you read my replies on this issue, and that what erdogan is doing is basically unislamic, which means that still, the Islamic system is unused, and I completely believe it's much better than any other system, if it was implemented by Central Banks
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@FrantisekPicifuk prove it, don't speak like an idiot
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@nickrails you don't have to follow interest based system to be a successful country/economy. This is a myth. And I mean fiat currency is authoritarian, not interest rate Then, I believe interest based or interest free economic system can succeed in delivering economic growth, but we believe there is a better way of doing it, and in more fair ways And don't bring erogan's economic catastrophic beliefs here, neither I believe in it, nor it is Islamic
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@nickrails I don't agree with the existence of fiat currency, as it is an instrument to control something you don't rightfully own. It is curruptable, why would you have it when you can have something more natural, holds its value better, represents economic situations better and are harder to corrupt by governments and counterfeiters? Fiat currency gives permission for the government to make bad economic decisions, like to lend or borrow recklessly, that leads to unsustainable and mostly politically influenced economic growth, that is also unsustainable in of itself. Independent central banks aren't independent of some economists ideas or other economic and political goals, even if they were independent of the head of the government him/herself. All these lead to inefficient allocation of resources, that causes less economic growth in the long run
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@nickrails there isn't a country that did follow an Islamic economic system that way, since all Islamic countries have been forcefully secularized by foreign powers, so the school remains largely unstudied and corrupt officials don't want to risk trying to go against the status quo.
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@nickrails Iran is not Islamic, at least since the 1500s, and Saudi Arabia is a new country that doesn't follow the interest based system, but they weren't the one I meant in the first place
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@nickrails no, there are difference, even in Islamic economics when it comes to the iranian ideology and belief. But ok, let us go no further, and end it here. Good night, if it's night in your country at least
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