Episode 11 - Islamic Economics with Dr. Abdullah bin Hamid Ali
The Muslim Bitcoiner Podcast
00:00
The Complexity of Ribo
The current system that we have set up, the nature of it works by fractional reserves. With COVID and the lockdowns, we don't even have fractional reserve banking. I do think there's a lot to be said for that hadith concerning gold, silver, rice, barley, dates, and wheat. But you can't just take a literalist approach and just say like, oh, we can't apply riba on these things because they don't need these six criteria or whatever.
Play episode from 49:49
Transcript
