SIIR2011 Sponsorship/Donations

Sponsor a delegate (US$40) or donate towards the costs for the next retreat. Any amount appreciated!

Please use your debit card as per this FAQ

Login and Register

ccBoard-Popular Posts

Muslim Village 2009-02-27 21:14:00 Omar Farook Khan

"Baruch" Obama as First Jewish President? 2009-07-27 22:43:47 adam

Step by Step Process Of The Muslim Village 2009-04-22 00:20:12 malayo

Children of gog and magog will be killed by nuclear radiation? 2009-08-08 17:23:35 adam

Beware! I was very upset by a statement of the RETREAT TO TRINIDAD posted on wakeupproject My REPLY 2009-06-23 16:46:31 UmmYusuf/Karimah

is Dajjal(the fake messiah) has free??are the US nation and its allies are "gog & magog"?? 2010-03-31 16:37:21 Ahmad mohd

Latest news on sea of Galilee 2009-05-10 15:50:21 Miraj

Establishing Islamic Bank - An idea 2009-06-06 16:20:35 addiyat

2nd International Islamic Retreat

Register early to avoid disappointment!

INH Forum :: Economics, Usury and Money

Board Index	Latest Posts				Welcome Guest [Register] [Login]
All posts are the opinion of the posters. To make a post enter the forum you wish to post in.

Subject :Re:Signs of what's Ahead!.. 2009-12-23 17:32:11

shabz

Joined: 2009-10-30 18:39:02
Posts: 5
Location:

http://www.youtube.com/watch?v=lJ3r93ELuB4

"The collapes" a movie by Michael c ruppert. This is just the trailer, infortunately

Talking about everything sheikh Imran has mentioned many times.

A must watch for those who choose not to believe, in other words The skeptics.

IP Logged

Last Edited On: 2009-12-23 17:32:11 By shabz

Subject :Re:Signs of what's Ahead!.. 2009-11-14 16:22:11

admin

Joined: 2008-09-03 16:35:47
Posts: 123
Location: Cape Town, South Africa

HussamHariri - If you have not found practical solutions in the work, I would like to suggest that you continue studying it - all of it. If you have questions, post them in the new student section.

There is also a very long thread on the Muslim Village covering economy, education and Jobs etc

Unfortunately if one is not happy with the concept of the village, there is nothing more we can offer, besides taking to the mountainside and chewing on roots.

Today Islam thrives in the 10 000 villages which Said Nursi called for in Turkey and you would find many other villages offering a good Islamic environment.

My advice is to stop worrying and to start living your deen, ask Him and He will guide you as NTalibah found, the ultimate success is with Allah!

TomMarAlem1987: There were many who did not have funds and who came from further than the USA...They relied on and asked Allah, like they do everyday, and He provided for them, protected them and strengthened them. But one needs to act before the barakah and blessings manifest themselves and part of this action is to improve oneself before being concerned with others.

IP Logged

Last Edited On: 2009-11-14 16:22:11 By admin

Mogamat Abrahams,
imranhosein.org caretaker.

Subject :Re:Re:Re:Signs of what's Ahead!.. 2009-11-14 12:54:41

HussamHariri

Joined: 2009-10-28 01:10:19
Posts: 23
Location:

I'm not married either (I'm 30 now, in Canada), but I've been reading and worrying all alone, no one in my family (parents, siblings) or friends feels like there's anything we can do about whatever it is that's coming our way. Even if it were Planet X, 2012, the Yellowstone volcanoe, or even mass concentration camps for Western Muslims,...we can't do anything about it...

Allahul Musta3aan...

IP Logged

Subject :Re:Re:Signs of what's Ahead!.. 2009-11-13 18:24:38

UmmYusuf/Karimah

Joined: 2009-03-16 13:06:52
Posts: 200
Location: California

WHO'S TO BLAME!

We can't blame anyone for our disobedience to Allah s.w.t! We can't blame anyone for neglecting our Obligations to Allah s.w.t! We can't blame anyone for feeling hopeless, depressed and doomed except OURSELVES! وَلاَ تَهِنُوا وَلاَ تَحْزَنُوا وَأَنتُمُ الأَعْلَوْنَ إِن كُنتُم مُّؤْمِنِينَ (3:139)

3:139 So lose not heart, nor fall into despair: For ye must gain mastery if ye are true in Faith.

If we go to the doctors seeking a cure for a physical illnesses such as Diabetics and we are given a regimen but we don't follow what was prescribed then we are at fault if we become fatigue, gangrenous, blind and debilitated not the doctor. Let's leave our Shuyukh and Iemmah out of the equation for a moment. We have been given a blueprint 1400 years ago that if we implement it we are guaranteed SUCCESS! If we can't submit to the Book of Allah and the Sunnah of Muhammad s.a.a.w.s. then how can we following any other source. I am a women with 7 children and I left my country, U.S.A. in 1999 and again 6 months ago depending solely and completely on Allah s.w.t. and left some very close and dear family members behind including children because Allah s.w.t. comes before all of His creation including our Nafs (THE SELF) denying the self for the SAKE of ALLAH is the GREATEST challenge for HUMANITY!

Most of us want safe havens from physical strife and oppression but we are not willing to sacrifice anything to obtain it. Whether you agree 100% with any scholars solutions to the horrific state that the Ummah is in you must recognize that they have put their lives, and their family lives on the line just to try and give guidance to many of us that are only looking for a quick fix of safety and security of lives and our wealth. How many did not come to the RETREAT not because of financial difficulties but because of FEAR of being labeled by ASSOCIATION with someone that could be called a Radical Muslim! I am appalled to hear MEN or should I say so CALLED MEN making weak accusations via cy-ber world while Imarn Hosein, Imam Luqman Abdullah, Commander Khattab, Imam Al-Awlaki, Rachel Corrie a non muslim women who was killed for our muslim people in Palestine http://www.youtube.com/watch?v=O3JI-axaRF4 are and have put their lives on the Line. We must ask ourselves what have we done to even be worried that someone is out to get us? What most wanted list is looking for us when we are spending our time browsing forums paranoid, confused and engaging in mindless discussions. What threat do we pose to anyone except our own SOULS and IMAN! Is it that we are worried about DEATH a state that is destined for every living organism except for the Lord of the Worlds. Our fear and despair is only chains and shackles to keep us in bondage to our nafs. Get up! Be who you were created to be Khalifah of the earth we are BANI ADAM be the true children of Adam! Be Adamic people and not Dajjalic people. Adamic people take care of what Allah s.w.t. has left in their charge, they are the ones who, "amir bil ma'aruf wa nahi anil munkar" command what has been made halal and ordered by Allah s.w.t. and they forbid what is wrong and made Haram by Allah s.w.t. They are controlled by their Ruh(soul) the highest station of the self and they command their Nafs to submit only to THE LAW OF ALLAH! Dajjalic people are controlled by their desires their nafs this is why it is easy for them to submit to Ad Dajjal because he threatens them with material things such as false WEALTH, poisonous FOOD and contaminated WATERS, glitter, nakedness, music that appeals only to the Nafs and suppress the spirit. They are co-dependent on this deceptive lifestyle that he has presented before them because they are weak and easily manipulated. Read this post if you haven't had a chance and view people that are and have made a difference even if it's in one person's life, http://www.imranhosein.org/forum/view-postlist/forum-3-islam-and-politics/topic-248-important-post-i-posted-on-another-forum-inshaallah-we-all-can-benefit.html "If You want to Know the State of the Ummah just Look at many of the Forums and the Postings on them! Ya Rabb!"

I AM WEEPING PROFUSELY AT WHAT HAS HAPPEN TO MY BROTHERS, MY SONS, MY FATHERS, MY LEADERS, MY TEACHERS HOW SPINELESS THEY HAVE BECOME! Every night that I rise before Fajr for (Qiyyamul Layl) screaming out to the Lord of the Worlds to give us, the WOMEN strength and ability to motivate our MEN to get back their BACKBONES they once had centuries ago! Du'a silahi muslim! Supplication/Prayer is the WEAPON of the Believers and many of us are too weak to even RISE up and perform that minor but powerful function!

WHO AM I TO SAY ANYTING:
I am Aisha from Palestine, I am Khadijah from Afganistan, I am Sumayyah from Egypt, I am Laylah from Pakistan, I am Fatimah from Iraq, I am Anisah from Yemen, I am NTalibah from America, I am Umm Kathum from Nigeria, I am Yasmin from Bosnia! I am your daughter, I am your sister, I am your Mother, I am your wife, I am your aunt, I am every muslim woman that is screaming, beaten, murdered, raped, frightened, hungry....I am waiting for you! You my BROTHER to liberate me from this OPPRESSION! I will continue Calling you until you wake up from this SOMULENT STATE!

-------------

was salaamu alaykum with love!

Hajjah Karimah!

and We have sent down to thee the Book explaining all things, a Guide, a Mercy, and Glad Tidings to those who Submit. (16:89)

'The real prisoner is someone whose heart is imprisoned from his Lord; the true captive is someone captured by his desires.'

By Ibn Al Qayyum on Ibn Taymiyyah

-------------

was salaamu alaykum with love!

Hajjah Karimah!

and We have sent down to thee the Book explaining all things, a Guide, a Mercy, and Glad Tidings to those who Submit. (16:89)

'The real prisoner is someone whose heart is imprisoned from his Lord; the true captive is someone captured by his desires.'

By Ibn Al Qayyum on Ibn Taymiyyah

[TomMarAlem1987 2009-11-13 06:14:22]:

As-Salamu 'Alaykum wa Rahmatullahi wa Barakatuh:

Akhi Hussam, barakAllahu feek wa Jazak Allahu Khayr. That question is the best thus far.

All the talk and conjecture and, especially, the books written and lectures are worthless unless and until they start to be implemented in everyday life.

Those villages will be prime targets which will be labelled as "Terror training grounds designed to build jihadi fighters who want to kill us and make sure we're all slaughtered."
I am here in America and subjected to hearing such constant propaganda and fear tactics.

The retreat to Trinidad and Tobago that was held some months ago is an example of the difficulty in this whole matter. How many of us wanted to go and were not able to muster the funds or find the way to get there?

We have no protector other than Allah, only by his power and guidance will we be able to be saved from the fitnat.

Allah is the creator of knowledge, I am a witness to that.

I admonish anyone thinking to come to America. STAY AWAY! This place is not good for anyone who wants to come here and preserve the deen and practice. STAY AWAY! I ask Allah to give you all wisdom to heed this admonition. Ameen.

I confess to you that I am facing such difficulties, the most frequent of which is that I am not waking up for Fajr. STAY AWAY FROM AMERICA OH MUSLIMS, SO THAT YOU MAY PROSPER!

Was-Salamu 'Alaykum wa Rahmatullahi wa Barakatuh.

IP Logged

Last Edited On: 2009-11-13 18:24:38 By UmmYusuf/Karimah

May Allah s.w.t. allow us to SEE things as they TRULY are and not as we PERCEIVE things to be.

Subject :Re:Re:Signs of what's Ahead!.. 2009-11-13 15:53:37

NTalibah

Joined: 2009-08-02 19:30:42
Posts: 23
Location:

I have not yet married, I am presently staying with a Christian family member. Al-Hamdu Lilah, the dua of the Qur'an are soothing to the heart.

I hope not to go it alone, but if there is no others means or way, I will “eat the bark of the tree.” Our beloved Rasuul(saw) has answered my question. Allah ta'aala gave me 2 feet to get there, Al-Hamdu Lilah.

[HussamHariri 2009-11-13 07:18:00]:

Jazak Allah khair, bro/sis...

The Prophet (pbuh) had advised Muslims to move to ash-Shaam / Levant / Greater Syria..near the End Times. There must be a reason for that. He didn't tell us to start such villages like the shaikh did; he could have alluded to those somehow, I think. It would have helped us alot, beside surah al-Kahf he told us would save us from Dajjal, if he (pbuh) had known (from Allah, through 'wahy') that there's something MORE that needs to be done to save oneself from Dajjal..BESIDE the said Surah!!!

I feel I must tell you, brohters and sisters, that he himself had also said: "if the people of Shaam were to get corrupted, then your affairs (O Muslims) will never be established (aright) - إذا فسد أهل الشام فلا قيامة لكم".

I'm yet to read the shaikh's 'new' tafseer of al-Kahf chapter. I gotta admit that I've always read the surah on Fridays, but wondered as to HOW it's supposed to protect me from the Dajjal! I hope his tafseer will provide me with those long-lost answers.

IP Logged

Last Edited On: 2009-11-13 15:53:37 By NTalibah

Subject :Re:Re:Signs of what's Ahead!.. 2009-11-13 15:41:01

NTalibah

Joined: 2009-08-02 19:30:42
Posts: 23
Location:

I too am presently located in the US. I am, in the worldly sense, finanicialy devistated by the fiasco of 2008. But Al-Hamdu Lilah, blessings come in ways we cannot percieve nor count. Had I still been working, it may be that I would not have even been nudged to wake up. Jazak Allah khayr Sheik Imraan.

When I learned how our beloved Rasuul (saw) would go to sleep, I did as he did. Al-Hamdu Lilah, I awaken earlier than fajr. Offer salaah, and read from Qur'an. You won't be tired in the day, Al-Hamdu Lilah.

At night:

You may want to change the wording, as this is my personal suppliction. Allahuma, Most Liberal Giver, if you grant me entry in the morrow kindly allow me that I may supplicate to You at an early time.

I abandoned the television a year ago. What peace it brings.

[TomMarAlem1987 2009-11-13 06:14:22]:

IP Logged

Subject :Re:Signs of what's Ahead!.. 2009-11-13 15:25:08

Abu Rania

Joined: 2009-10-12 15:59:18
Posts: 325
Location:

Here is a passage in surat Alkahf in which Allah talks about those young men who went to the cave, but notice one thing. I highligted the verse which I want you to check verse 16. That verse is not in the past term, it is in future term, it is an order.

(

١٢) نَّحۡنُ نَقُصُّ عَلَيۡكَ نَبَأَهُم بِٱلۡحَقِّ‌ۚ إِنَّہُمۡ فِتۡيَةٌ ءَامَنُواْ بِرَبِّهِ

مۡ وَزِدۡنَـٰهُمۡ هُدً۬ى (١٣) وَرَبَطۡنَا عَلَىٰ قُلُوبِهِمۡ إِذۡ قَامُواْ فَقَالُواْ رَبُّنَ

ا رَبُّ ٱلسَّمَـٰوَٲتِ وَٱلۡأَرۡضِ لَن نَّدۡعُوَاْ مِن دُونِهِۦۤ إِلَـٰهً۬ا‌ۖ لَّقَدۡ قُلۡنَآ إِذً۬

شَطَطًا (١٤) هَـٰٓؤُلَآءِ قَوۡمُنَا ٱتَّخَذُواْ مِن دُونِهِۦۤ ءَالِهَةً۬‌ۖ لَّوۡلَا يَأۡتُونَ

عَلَيۡهِم بِسُلۡطَـٰنِۭ بَيِّنٍ۬‌ۖ فَمَنۡ أَظۡلَمُ مِمَّنِ ٱفۡتَرَىٰ عَلَى ٱللَّهِ كَذِبً۬

ا (١٥) وَإِذِ ٱعۡتَزَلۡتُمُوهُمۡ وَمَا يَعۡبُدُونَ إِلَّا ٱللَّهَ فَأۡوُ ۥۤاْ إِلَى ٱلۡكَهۡفِ

يَنشُرۡ لَكُمۡ رَبُّكُم مِّن رَّحۡمَتِهِۦ وَيُهَيِّئۡ لَكُم مِّنۡ أَمۡرِكُم مِّرۡفَقً۬ا (١٦)

English translation:

(12) We narrate unto thee their story with truth. Lo! they were young men who believed in their Lord, and We increased them in guidance. (13) And We made firm their hearts when they stood forth and said: Our Lord is the Lord of the heavens and the earth. We cry unto no god beside Him, for then should we utter an enormity. (14) These, our people, have chosen (other) gods beside Him though they bring no clear warrant (vouchsafed) to them. And who doth greater wrong than he who inventeth a lie concerning Allah? (15) And when ye withdraw from them and that which they worship except Allah, then seek refuge in the Cave; your Lord will spread for you of His mercy and will prepare for you a pillow in your plight. (16)

IP Logged

Subject :Re:Signs of what's Ahead!.. 2009-11-13 07:18:00

HussamHariri

Joined: 2009-10-28 01:10:19
Posts: 23
Location:

Jazak Allah khair, bro/sis...

IP Logged

Last Edited On: 2009-11-13 07:18:00 By HussamHariri

Subject :Re:Signs of what's Ahead!.. 2009-11-13 06:14:22

TomMarAlem1987

Joined: 2009-09-25 02:59:20
Posts: 103
Location:

IP Logged

Last Edited On: 2009-11-13 06:14:22 By TomMarAlem1987

Subject :Re:Signs of what's Ahead!.. 2009-11-13 05:17:17

HussamHariri

Joined: 2009-10-28 01:10:19
Posts: 23
Location:

I was initially happy when I found the shaikh's works and lectures, but I haven't learned ONE thing that's PRACTICAL that I can do..to save myself and my loved ones...from what's about to befall the world!!!!

It's like our destruction is inevitable!!! There is no way for 'salvation' but with the "Musliim village" (the way of the Ahlul-Kahf / the People of the Cave, the men who slept for 300+ years as mentioned in Surah al-Kahf)???? That's not practical!!! What kind of jobs will we do, where will our kids go for school, etc etc?!?!

Or is Trinidad & Tobago ready for that dreadful scenario???

Wouldn't these 'Muslim villages' be under siege from the 'New World Government' and their inhabitants FORCED to become subjects of the Dajjal's government???

That shaikh may be right about the problems facing the world and the background factors, but his solution seems very impractical!! It will be like staring Taliban-style mini-states everywhere, dotting the world here and there, with absolutely no means to overcome the Dajjal or communicate between 'brother mini-states' in far areas (like in other continents).

Don't forget that the internet might also fall completely under their control!! That will only make matters worse!!!

IP Logged

Subject :Re:Signs of what's Ahead!.. 2009-11-13 00:20:35

TomMarAlem1987

Joined: 2009-09-25 02:59:20
Posts: 103
Location:

As-Salamu 'Alaykum wa Rahmatullahi wa Barakatuh:

Density of Gold:
"

Cutnell, John D. and Kenneth W. Johnson. Physics 4th Edition. New York: Wiley. 1998: 308.

Substance	Density (kg/m³)
Gold	19 300

19,300 kg/m³

CRC Handbook of Chemistry & Physics. 55th ed. Ohio: Chemical Rubber Co. 1974-75: B-15.

"b.p 2807C; sp. gr. 19.32 (20C); valence 1 or 3. Known and highly valued from earliest times."

19,320 kg/m³

Huber, Carol. Gold Panning. Chugach National Forest. 1997.

"Gold has a specific gravity of 19.3, meaning it is more than 19 times heavier than an equal volume of water."

19,300 kg/m³

The Illustrated Science and Invention Encyclopedia. Connecticut. H.S. Stutmann, 1974.

"Its tarnish-free surface, attractive colour and very high density -- one cubic foot (0.028m³) weighs over half a ton -- as well as its rarity, make it highly prized."

18,000 kg/m³

The Educators Resource Guide to the Klondike Gold Rush of 1898. Klondike Gold Rush National Historical Park. Seattle, Washington.

"Gold is an extremely dense mineral with a specific gravity of 19.2 (19.2 times heavier than water)."

19,200 kg/m³

" http://hypertextbook.com/facts/2004/RuwanMeepagala.shtml

Let's use the value given of 19,300kg/m^3. This means that in a box with the dimensions of 1 meter by 1 meter by 1 meter filled with gold the weight will be 19,300kg.

Lets convert kg to lbs. 1kg=2.2lbs so multiply by 2.2. We get 42,460lbs/m^3.
200 tons, 1 ton=2,000lbs so multiply 200 by 2,000 and you get 400,000.

Density=Mass/volume so volume=mass/density and we have 400,000/42,460 which equals 9.420631182...m3. It is a cube so we must cube root.

If x*x*x=x^3 then we must do (x^3)^1/3 so that 3*1/3=1 and we have x^1=x.
We find (9.420631182...)^1/3=2.111997179...

For you the Metric system is standard and something you are well acquainted with, I presume.

So 200 tons of Gold would fit into a box with the dimensions of 7 feet by 7 feet by 7 feet.

Was-Salamu 'Alaykum wa Rahmatullahi wa Barakatuh.

IP Logged

Subject :Re:Signs of what's Ahead!.. 2009-11-12 23:13:35

Abu Rania

Joined: 2009-10-12 15:59:18
Posts: 325
Location:

The next collapse is no way of return including himself, he is so sure :-)

IP Logged

Subject :Re:Signs of what's Ahead!.. 2009-11-12 21:11:45

umar77

Joined: 2009-06-25 20:09:50
Posts: 10
Location:

As Salaamu alaykum

200 tons is a lot of gold where are they going to put it all - may it's just paper gold certificates - joking! Our beloved prophet Muhammad (PBUH) has given humanity many direct and indirect warnings on usury. Unfortunately they've mocked the message so now it's time for humanity to taste the pain of their own actions.

Sheikh Imran Hosein predicted the economic collapse long ago and before anyone else; and we are very lucky that we have such an amazing scholar who can explain the monetary system based on Qu'ran and hadith!

Please watch the below youtube video and forward to 4:45 mins to 6 mins - i found it quite interesting, yet funny, when Dr Faber talks about the coming economic collapse.

Dr Marc Faber: Gloom, Boom & Doom
http://www.youtube.com/watch?v=UfuiNjvH9_c

Wa'salaam

IP Logged

Subject :Signs of what's Ahead!.. 2009-11-12 17:44:58

UmmYusuf/Karimah

Joined: 2009-03-16 13:06:52
Posts: 200
Location: California

Indian reserve bank buys 200tonnes of gold from IMF/ China Set to Buy $50 Billion in IMF Notes! Signs of what's to come!

كَذَلِكَ يُبَيِّنُ اللّهُ لَكُمْ آيَاتِهِ لَعَلَّكُمْ تَعْقِلُونَ (2:242)

2:242 (Y. Ali) Thus doth Allah Make clear His signs to you: In order that ye may understand.

In order to bring in this New bogus fraudulent monetary system the old bogus fraudulent system must fall! Electronic money is making it's way fast and the dollar is crashing at a speed of 1000 miles per minute...Just look at the SIGNS if you want to SEE!

RBI may’ve sold US T-bills to buy gold

7 Nov 2009, 0217 hrs IST, ET Bureau

Print EMail Discuss Share Save CommentText:
MUMBAI: The Reserve Bank of India (RBI) may have sold US Treasuries to
fund its gold purchase from the International Monetary Fund. Last
week,
RBI purchased 200 tonnes of IMF gold for $6.7 billion, increasing the
share of gold in its reserves by 250 basis points.

“This purchase suggests that the Indian monetary authorities are
seeking to change the composition of their foreign reserve holdings,
most likely diversifying away from US Treasury securities,” said
Nikhilesh Bhattacharya, an economist with the research arm of ratings
firm Moody’s in a report. He added that the move was prudent as India
needed liquid assets as a buffer against sudden, destabilising capital
outflows.

The central bank has, however, refrained from disclosing the details
of the transaction in its weekly statistical supplement released on
Friday. According to the RBI release, total foreign exchange reserves
including gold and SDR (special drawing rights—the reserve currency
with IMF) dipped $1.129 billion to $284.4 billion during the week
ended October 30. While foreign currency assets dipped $1.580 billion,
the value of SDR dipped $25 million. The value of gold in reserves
rose $484 million to $10.8 billion.

Going by the current composition of reserves comprising various
foreign currency assets, SDR, gold and reserves with the IMF, gold
which is valued at the month-end bullion prices at the London bullion
exchange has for long hovered around $10 billion and roughly accounts
for 4% of the total reserves.

Had last week’s purchase been reflected in the latest reserves
figures, the value of gold would have gone up by at least 50%. One
would also know how the central bank has funded this purchase.
According to an RBI official, the purchase was out of the foreign
currency assets and not SDR.
From: http://economictimes.indiatimes.com/news/economy/finance/RBI-mayve-...

-------------
By MEENA THIRUVENGADAM
WASHINGTON -- China is on track to become the first purchaser of notes issued by the International Monetary Fund, a move that would diversify its foreign asset holdings and could give the IMF's quasi-currency more clout.

The IMF on Wednesday said China has signed an agreement to purchase approximately $50 billion in notes from the fund. The notes are denominated in Special Drawing Rights, a quasi-currency issued by the fund and promoted by China as a potential replacement for the dollar as the world's reserve currency.

The agreement is the first of its kind for the fund and marks China's most visible step toward shifting its investment focus away from the U.S. Treasurys market.

"The symbolism is very important here. It is no longer the U.S. dollar alone that the Chinese have access to," said Eswar Prasad, a senior fellow at the Brookings Institution and former head of the IMF's China division.

Countries including Brazil, Russia and India also have expressed interest in purchasing IMF notes, whose issuance is meant to bolster the fund's lending capacity and help fulfill a Group of 20 pledge to strengthen the Fund's own capital position.

Still, "For China this is particularly significant in the context of their strong desire to have an alternative to the dollar for parking their reserves," Mr. Prasad said. "Having a large stock of IMF bonds in circulation that are denominated in SDRs is definitely going to give a boost to the Chinese proposal of increasing the importance of the SDR."

But with a limited market for IMF notes, Eurasia Group Associate Nicholas Consonery doesn't expect the agreement will spur sharp declines in China's purchases of Treasury securities. "At the margin they are trying to make efforts to diversity future asset purchases, but we have no expectation that this, in any immediate sense, will present a real viable alternative for China," he said.

China in June held more than $776 billion worth of U.S. Treasury securities, several times the total amount of notes the IMF is expected to issue. China is the largest foreign holder of U.S. Treasury Securities.

While Mr. Prasad expects the agreement won't have a significant short-term impact on the U.S. dollar, he notes the situation could change in the longer-term.

"It is no longer a pipe dream for the SDR to become a serious reserve currency," he said.

A Treasury spokesman had no comment

IP Logged

May Allah s.w.t. allow us to SEE things as they TRULY are and not as we PERCEIVE things to be.


	Page #

SIIR2011 Sponsorship/Donations

Login and Register

ccBoard-Popular Posts

2nd International Islamic Retreat

Top 10 Articles

Newsletter

Users Online