Tuesday, December 4, 2007

Shariah's Trojan horse

Frank Gaffney again points out another Islamic front in the war against the West. Recent developments in global finanancial inrodes by wealthy Saudis should raise red flags. To quote one "Sharia advisor" to Western bankers: "Shariah investing is simply "financial jihad" against the unbelievers."
FROM JEWISHWORLDREVIEW.COM:
Shariah's Trojan horse
By Frank J. Gaffney, Jr.
Suddenly, a new national debate is beginning about the national security, economic and other implications of Persian Gulf potentates using their petrodollars to buy up strategic American assets. Most recently, the Emir of Dubai's purchase at fire-sale prices of 4.9 percent of the largest U.S. bank, Citigroup, has caused a level of unease not seen since he tried to buy his way into a large number of this country's port facilities.

Almost completely unremarked thus far has been a parallel - and in many ways far more insidious - effort to penetrate, influence and dominate America's capital markets: so-called "Shariah finance." Some estimates suggest that there are approaching $1 trillion now being invested around the world under this rubric. If present trends continue, all other things being equal, such funds may grow to many times that amount within a few years.
READ IT ALL: