Ann-
Fast Company just published this piece of dreck, so it might be time to explain “interest free” mortgages again.
Goodness, it’s JUST. SO. DUMB.
https://www.fastcompany.com/91191616/halal-mortgages-america-islam-muslims-explained
They linked to it on Canon212.
God Bless you,
S
The One About SHARIA FINANCE, BLANKIES and AXE BODY SPRAY
Originally penned and posted on January 21, ARSH 2012.
I have seen people erroneously claiming that musloids have financial markets and banking without any interest.
BULL. SHIT.
Musloids are some of the worst criminal usurers on the planet, charging criminally high interest – all the while making the abject bullshit claims that they don’t charge any interest at all.
Musloids and Marxists lie. You have to assume that every word out of the mouth of a musloid or a Marxist is a lie, including “and” and “the”. They are COMMANDED to lie; musloids by the suras and hadiths, Marxists by Marx, Lenin, Mao and Alinsky. If you haven’t figured this out yet just by watching the satanic farce that is politics today, then you are beyond all help.
Here is a piece I authored back on January 21, ARSH 2012 explaining “Sharia finance”.
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On Sharia Finance, Blankies and Axe Body Spray
Writing about Sharia finance is oddly refreshing. Why? Because it is a chance to point out the abject stupidity – and guys, we’re talking full-on drooling imbecility here – of islam without anyone getting their head sawed off with a dull Ginsu-II or a child getting raped.
Sharia finance is so monumentally stupid that it is actually hysterically funny. Have a few beers around a campfire and I could get you laughing so hard your ribs would ache.
So the entire premise of Sharia finance is that there is NO INTEREST. If you borrow money, it is at zero percent, because the paying of interest is “haram”, which means “forbidden”, according to Sharia law. Got it? Good. Now, let me walk you through the reality of Sharia finance, and I warn you, don’t drink while you’re reading this, because if you do, you stand a good chance of spewing your Dr. Pepper out your nose, and I won’t be responsible for that.
Let’s say a person buys a $150,000 home on a 15 year mortgage at 5%. Purely for the sake of simplicity, let’s just say zero down. The amortization table shows that over those 15 years, or 180 months, at 5% interest, the monthly payment would be $1186.19 and that the total interest expense paid over the life of the mortgage would be $63,514.28. So, principal ($150,000) plus interest ($63,514.28) would be $213,514.28 for the $150,000 property.
Now here is an “interest-free” Sharia loan scenario. And bear in mind that I am dead serious here. I’m not making this up.
A musloid walks in to a “Sharia-compliant” lender and tells them that they want to buy a $150,000 property on a 15 year term. The Sharia-compliant lender then looks up what the going INTEREST RATE is. (Uh, Houston, we have a problem.)
In our example, it is 5% on a 15 year mortgage. The musloid banker then calculates the amortization table on a 15 year loan on $150,000 at 5%. (Uh, Houston, we’ve had some sort of major malfunction here.)
He sees that the total interest expense would be $63,514.28. So, the “Sharia-compliant” lender then offers to buy the property at $150,000 and immediately sell it to the customer for . . . $213,514.28. The customer then sets up a note to repay the $213,514.28 in 180 equal monthly payments of $1186.19 at “zero percent”, because $213,514.28 divided by 180 is $1186.19. Voila! Zero interest!
That’s it. I’m not kidding. I’m not making this up. If I was going to make something up, I would make something up that wasn’t totally, completely, laughably stupid.
Um, soooooo, tell me Mister Musloid, what EXACTLY is the $63,514.28 markup? Uh, isn’t that … interest? How was that amount calculated? Uh, didn’t you ping the interest rate market and calculate an amortization table to come up with that number? Yes.
Isn’t the borrower paying the lender for the use of his money over the 15 year term? Yes.
Wouldn’t TRUE zero-interest lending mean that you paid a total of $150,000 for the property, and that your monthly payment would therefore be $150,000 divided by 180 months, or $833.33 per month? Yes.
And if you did a 30 year loan at true zero interest, your monthly payment would be $150,000 divided by 360, or $416.66 per month? Yes. THAT would be zero interest.
Sharia finance is “zero interest” about as much as I am a bottle of 1964 Chateau Latour.
Over the Christmas holiday, I had the occasion to be around a two year old while traveling. There was a blanket nearby, and we inevitably fell into the old game of “”hide under the blanket”. The toddler would pull the blanket over her head right in front of me, and then I would say, “Hey, where did she go? She was here just a minute ago. She just disappeared!” And then the toddler would pull the blanket off of her head and yell “HERE I AM!” and I would act like I had just witnessed some sort of miraculous manipulation of the fabric of space-time. You know the game. And you also know that toddlers at between the ages of three and four become self-aware, and possess enough cognitive sophistication to be able to perceive and extrapolate how OTHERS perceive THEM. And as soon as that intellectual benchmark is reached, the “hide under the blanket game” no longer works, because the child KNOWS YOU CAN SEE THEM.
This is pretty much the dynamic we are dealing with vis-a-vis the musloids. These people are intellectually and cognitively stunted due to 1400 years of inbreeding. As a result of this, they actually think that this Sharia finance ”work around” is somehow valid or legit – AND THAT WE CAN’T SEE IT. They think that we non-musloids look at this and say, “My goodness! Yes . . . yes. That truly is a zero interest mortgage! No interest there! Why didn’t we think of that?!”
The sad thing is that the politically correct morons who infest our culture think that it is somehow “tolerant” or “promoting diversity” to go along with the musloids and their intellectual retardation. And so, all of the megabanks are furiously scrambling to set up “Sharia-compliant” financial products, when the only appropriate response to such absurdity would be something along the lines of, ”DO YOU THINK THAT I’M STUPID? GET THE HELL OUT OF MY OFFICE, AND TAKE YOUR BRAIN-DAMAGED NONSENSE WITH YOU. NOW. I’M BUSY.”
Finally, just a word about this in terms of the faux-religious con of islam. Have you noticed that musloids are constantly trying to cheat, deceive, and concoct bullshit “work-arounds” of ol’ allah? Sharia finance is merely trying to come up with a childish legalistic way to claim that they aren’t paying interest, while they obviously are. Islam also teaches that men can sin and do whatever they please on Mondays and Thursdays, because these are the two days of the week that allah is “inventorying the deeds of men”, and thus allah ”is busy and isn’t watching you.” This is why the “Thursday Night Club” dynamic of musloid men cross-dressing and engaging in man-on-man sodomy happens on … Thursday nights.
I’m telling you, the stupid is STRONG with these people. What the hell kind of ”religion” is built upon screwing over the deity? Oh, yeah – a “religion” that isn’t a religion at all, but a stupid, evil totalitarian political cult that uses faux-religious myths and motifs to control its cognitively damaged slaves. THAT kind of “religion”.
Guys, it is one thing to play “hide under the blankie” with a two year old. It is quite another to play that game with a 55 year old man wanting to buy real estate who reeks of goat and Axe Body Spray, and also wants to kill you, marry your six year old daughter and rape your four year old son, and take over your country.
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1.) Money has time value because it is a proxy for human capacity to labor, produce and create through time,
2.) Lending involves intrinsic risk of default, otherwise known as a “cost structure component”,
3.) Money DOES ERODE over time if there is ANY inflation whatsoever. A 2% annual rate of inflation, which sounds so benign on the surface, will compound to 438% over an 85 year lifespan.
4.) And if you believe ANYTHING a musloid or a Marxist tells you, even about simple, rudimentary arithmetic, you deserve whatever hell you get.
