~ an Islamic Way of Life ~

Posts tagged ‘Shaykh Abu Yusuf Riyadh ul Haq’

Be Prepared for Food Crisis during Hyperinflation

Are we in a crisis of inflation, yet? Or is the inflation simply part of a routine that occurs year after year? According to Gerard Adams, the president of National Inflation Association, “We currently have a currency crisis that could soon turn into hyperinflation and a complete societal collapse”.

In a recent article published in NIA, it announced the release of NIA’s special U.S. food price projection report. In this report, it uncovered the huge price increases in commodity such as cotton (by 54%), corn (by 29%), soybeans (by 22%), orange juice (by 17%), and sugar (by 51%) during the months of September and October 2010.

In the beginning of year 2009, the US owed the rest of the world over 12 trillion US dollars ($12,000,000,000,000). With an increasing rate of over 1 trillion US dollars per 15 months of the US foreign debts and coupled with the flawed financial system, there is no doubt that we are destined to face hyperinflation.

The issue of hyperinflation is not a matter of if but a matter of when.

Islamic Finance

The financial system practiced in the non-Islamic world was developed by the Jews and basically is about lending money to their clients using other clients’ money. The bank not only loans the money that does not belong to the bank in the first place but also, on top of that, collects interest.

In his lecture “An Islamic Perspective on the Credit Crunch”, Shaykh Abu Yusuf Riyadh ul Haq said, “If people would have followed Allah’s and Prophet’s (SAW) teachings, there would have been no credit crunch” (By the way, this 90-min long lecture in three parts only costs $1.99 from iTune store).

Islam forbids the collection of riba (interest). Islamic finance is not merely a replacement of the existing financial system to avoid collecting riba. It is a comprehensive financial system that deals with lending and borrowing in a humane way.

It is clearly stated in the Qu’ran that if a loan should be established, no riba should be collected at the time of the return of the loan. In fact, if there is any hardship in returning the loan on time, then extend the lending period to ease that hardship, or, better yet, give away as sadaqah (charity). Islam encourages of spending in the name of Allah so that the money will not stay and circle around only within the wealthy.

What is the difference between sadaqah and riba? “Sadaqah is to give without anything in return while riba is to take without anything in return”, says the Shaykh.

A financial system that does not follow Allah and Prophet’s (SAW) teachings is doomed to fail. That is what is happening right now, right in front of our eyes.

So, what can we do now to deal with the food crisis?

  • Eat healthy: During the period of hyperinflation, it is wise to stay healthy. The last thing you want to get is the sickness. Eating simple is the key to being healthy, no more junk foods at any given time of the day (and night). Prepare our own meals at home with fresh produce. Do not heavily process your fresh produce. Lightly steam the veggies, or better yet, eat them raw. Meat should not be consumed on a daily basis. Consume only organic meat whenever possible.
  • Plan to grow your own foods: Next time when you shop at your local supermarket, ask them where those fresh veggies and fruits come from. You’ll be very surprised to learn that the majority, if it’s not all, of the fresh produce is from elsewhere (either from a remote state or from another country). In other words, they arrive at the shelf of your supermarket via plane and/or truck. During the hyperinflation, the link of the transportation would be broken due to the skyrocketed gas price. Replace the flowers (unless edible flowers) with veggies/fruits in your yard.
  • Store water: If you live in Mecca, Saudi Arabia, you’ll be so thankful during the hyperinflation that zamzam water is available without any interruption. The rain is mentioned time and time again in the Qu’ran as Allah’s bounty to the mankind. Indeed, water enters into every aspect of our lives. Here’s a link where you can find spring water from your local area. Save at least six-month’s worth of water supply.
  • Store some dry foods such as seeds, beans, nuts, grains, and sea veggies: Get them organic and raw!
    • Seeds such as quinoa (read as KEENwa, a type of seed, can replace rice), pumpkin seeds, and sunflower seeds (raw seeds, not the roasted ones) are worth storing.
    • Red beans, kidney beans, pinto beans, mung beans, black beans, lima beans, and many others can be stored dried or frozen.
    • Nuts (again, raw nuts only) include walnuts, almonds (European almonds, not US almonds), Brazil nuts, cashews, pine nuts, and macadamia nuts. Mix with some raisins and you have your own trail mix!
    • Grains such as buckwheat, barley, and oats can be stored for long period of time. They could be either whole grain or in powdered form (to make your own pancakes).
    • Non-roasted sea veggies such as nori (Learn how to make raw sushi), dulse, kombu, wakame and so on are highly nutritious and filled with minerals.

It’s possible that when we wake up the next day, everything has changed. Are you prepared for that day?