Abolish Capitalism to Strengthen Currency, End Rampant Inflation
Pakistan’s Finance Minister, Mr. Ishaq Dar, is misleading the people about the weakening of the Rupee, which is leading to rampant inflation in the country. He claims that market speculation is the root cause, when in fact the root cause is the very system that his government is implementing, Capitalism.
Like other currencies, the Dollar, the Pound and the Franc, originally, the Rupee was backed by real tangible wealth in the form of a precious metal. In the case of the Dollar, it was gold, in the case of the Rupee it was silver. This system stabilized the value of the monetary unit both internally within the region and externally in international trade, such that under Islam, the Indian Subcontinent was an economic powerhouse for the global economy.