Yuyutsu,Don't be too precious.This is about stopping a major conflict in the Middle East.It is also interesting to note that both Syria and Iran do not conform to the international central banking system.Their religion does not permit usery.

They are a bad example to the rest of us debt slaves that panders to a system that steals by counterfeiting money.The IMF has just created another $ trillion which depreciates our currencies and then have the audacity to charge interest on forged money.Kevin Rudd did not have to borrow from China since the RBA put up rates to decrease inflation.So on borrowed money we had a depreciation of our currency and paid the double whammy of interest.We are being milked by the Global Reserve Banking System.

Iran has done no wrong.It is the neo-cons of "The New World Order" pushing this agenda.They want a world Govt under one currency they own and there will be no democracy.

Dear Arjay,

Very nice of you to want to stop a major conflict in the Middle East.
Very nice of you to want to curb inflation and counterfeit money.

However, if it is my family who need to pay the price of your noble endeavours with their lives, then fight they will and nuke they will and win they will - or take the rest of the world with them to the grave. So would your family do in their place if they had the means to defend themselves.

Don't get too carried away Arjay.

>>It is also interesting to note that both Syria and Iran do not conform to the international central banking system.Their religion does not permit usery.<<

You are of course right, in theory. But in order to compete out in the real world, they have had to create "instruments" that provide a return to the investor, in much the same way as interest payments do.

Enter the sukuk.

http://www.arabianbusiness.com/585878-kuwaits-iig-to-restructure-after-default-on-sukuk

Note the key phrase, that the group were "defaulting on a payment for its $200m Islamic bond." The difference between failing to make "the periodic distribution amount of $3.35 million", and failing to meet interest payments on a loan, is discernible only to the religious eye. To a banker, there is no effective difference.

As we discovered last year in Dubai.

http://www.theaustralian.com.au/business/dubai-worlds-debt-default-will-put-islamic-finance-to-test/story-e6frg8zx-1225804745267

I think you will find that Syria, too, is starting to join the wider financial world.

http://www.qatarmorningpost.com/news/newsfull.php?newid=285268

"The financial sector in Syria has not reached the level achieved in other countries," [Finance Minister Mohammad Al-Hussein] said. "We are interested to learn from other systems in the world."

Not sure about Iran, though.

Oh, wait...

http://www.developing8.org/2009/12/11/muslim-countries-eye-sukuk-issue-to-boost-liquidity/

"Mahnaz Bahrami, the Iran central bank’s director of banking studies and regulations said governments of Muslim countries would issue sukuk to each other which could transfer them to their financial institutions under the initiative"

And why would they do this?

"... the maturity mismatch on the balance sheet of Islamic banks is typically larger than at their conventional peers, as their funding mostly relies on short-term customer deposits due to the lack a long-term funding instruments."

The reality is that debt is debt, and has the same characteristics wherever it is incurred.

And whatever you choose to call it.

Pericles,I agree that there should be a price for money,but we do not need an international bunch of parasites creating it from nothing,thus diluting all our wealth.It is theft by stealth.

We need sorvereign Govts that can generate their own money,not a Global Coballe of facists dictating their agendas.

The Fed and the Res Banks of Europe created this GFC and are still profiteering via the demise of the Euro.This GFC was orchestrated just like the Great Depression.

Sorry Arjay, but your post makes absolutely no sense, from any direction and at any level.

1. money cannot be "created from nothing". There is always a corresponding responsibility to repay.

2. Sovereign governments do, after a fashion, "generate their own money", but once again, there is always a corresponding requirement to repay.

3. The GFC was not created by the "Fed and the Res Banks of Europe", or indeed any one agency. In the sense that you use here, i.e. deliberately caused, nobody "created" the GFC.

4. >>This GFC was orchestrated just like the Great Depression.<< You are either kidding, or totally misled.

You still need some very basic education on the topic of finance, Arjay. You will have a far more contented life if you were to get some.

Selective logic again Pericles.The IMF created $ trillion 12 mths ago and called it cyber money.They are doing it again to bail our the Euro.Let the derivatives and phoney banks fail.Save the real economy.

Surprise,surprise.They just found $ trillion in natural resources in Afghanistan.The corp media spin.Well they can wean the Taliban off poppy seeds and give them some of their resources instead.The Taliban had the production of heroine stopped prior 911.That area now produces 90% of the world's heroine.Grand theft and hypocracy by the neo-cons.