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Debt

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					Country: USA

Total Debt: ~ $13,000,000,000,000

1/3: Other Countries

1/3: Public Debt (Business and People)

1/3: US owes to itself (Government Account securities)

Amount of debt owed to other countries: $4,000,000,000,000.00 = $4 trillion

Countries Owed:

Taiwan/China: 2.5 trillion

New Zealand: 3 billion

Japan: 500 billion

India: 70 billion

Egypt: 3 billion

Canada: 2 million

Brazil: 13 million

Australia: 14 million

Mongolia: 2 billion

France: 5 billion

Italy: 3 billion

Israel: 500 billion

South Korea: 13 million

North Korea: 50 billion

UAE: 12 million

Interest:

         Personal: Property loans, Car loans, bills and credit cards

         Local: Business loans

         Global: Foreign Government Account Securities

Religion:
       Haram-ness of debt: Eviction notices to Muslim brother/sisters in community. Interest rates are
growing higher and higher. Allah wages war upon a person with debt and interest and It is haram to
have any interest upon your belongings whether you are getting the money or someone else is.

Culture:

         Hate and interest: Ask others for money (wedding/investments) pay back later but lose job still
in debt. This represents the loss of a healthy give and take relationship between friends.

Economy:

         Interest rates, up and down economy: If the us dollar’s value falls then the debt repayment will
be in cheaper dollars. This will cause other countries to avoid treasury bonds which will create higher
interest rates for people around the world. When the baby boomers of 1945 will retire in 2010, funds
will be needed to be found to provide money towards social security. Taxes will be raised and if not then
the whole economy could collapse leaving America behind. The economy dropped to bail the American
Auto industry out of hot water and in return they have also lost all hope to bring back any money from
that end. They have lost to the Indian Tata Motors company in the auto industry.

Health:

         Depression and emotion: people go into depression when their interest rates and credit card
bills go up. They lose coverage in healthcare and cannot afford to make themselves well.

Quran and Sunnah:

           Quran:

And know that among you is Allah's Messenger; were he, in many matters, to follow your
(wishes), ye would certainly fall into misfortune. But Allah has endeared the Faith to you,
and has made it beautiful in your hearts, and He has made hateful to you Unbelief,
wickedness, and rebellion; such indeed are those who walk in righteousness; (hujurat aya
7)

If two parties among the Believers fall into a quarrel, make ye peace between them: but if
one of them transgresses beyond bounds against the other then fight ye (all) against the
one that transgresses until it complies with the command of Allah; but if it complies then
make peace between them with justice and be fair: for Allah loves those who are fair (and
just).(Hujurat aya 9)

           Ahadith:

Narrated Salama bin Al-Akwa: Once, while we were sitting in the company of Prophet, a dead man was
brought. The Prophet was requested to lead the funeral prayer for the deceased. He said, "Is he in
debt?" The people replied in the negative. He said, "Has he left any wealth?" They said, "No." So, he led
his funeral prayer. Another dead man was brought and the people said, "O Allah's Apostle! Lead his
funeral prayer." The Prophet said, "Is he in debt?" They said, "Yes." He said, "Has he left any wealth?"
They said, ''Three Dinars." So, he led the prayer. Then a third dead man was brought and the people said
(to the Prophet ), Please lead his funeral prayer." He said, "Has he left any wealth?" They said, "No." He
asked, "Is he in debt?" They said, ("Yes! He has to pay) three Dinars.’ He (refused to pray and) said,
"Then pray for your (dead) companion." Abu Qatada said, "O Allah's Apostle! Lead his funeral prayer,
and I will pay his debt." So, he led the prayer.
Narrated 'Aisha

Allah's Apostle used to invoke Allah in the prayer saying, "O Allah, Iseek refuge with you
from all sins, and from being in debt." Someone said, O Allah's Apostle! (I see you) very
often you seek refuge with Allah from being in debt. He replied, "If a person is in debt, he
tells lies when he speaks, and breaks his promises when he promises."

Narrated Abu Huraira:

The Prophet said, “Whoever takes the money of the people with the intention of repaying it, Allah will
repay it on his behalf, and whoever takes it in order to spoil it, then Allah will spoil him.”

                                                                                ^Sahih Bukhari

				
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posted:4/16/2012
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