The majority of the world is facing a cost of living crisis, with many working people unable to afford basic necessities like housing, and the number of homeless people is on the rise. Houses that were once affordable now cost hundreds of thousands, and people work and save for their whole lives to pay off mortgages. There are 300,000 homeless people in the UK and over one million empty homes in England alone. With the rate of empty houses increasing, there are clearly enough homes for everyone. Furthermore, one-third of the food produced globally for human consumption is wasted, while nine million people dying of starvation per year. So, why has owning a home and affording a basic quality of life become so unattainable for the majority of people and reserved only for the rich?
Valueless Currency and It's Price
The paper and electronic currency we use today is intrinsically valueless. The paper note itself is a note that recognizes a debt, similar to a handwritten contract. It is not backed by anything real and depends on the government to uphold the debt.
Long ago, banks persuaded people to deposit their gold and silver and use paper notes instead, as they were easier to carry and trade. Over time, banks stopped giving out the gold and silver that backed these notes. This allowed them to print more money, giving them full financial control and causing the inflation we see today, making the cost of living unaffordable. Banks lending this printed money drove up prices much faster than wages increased, reducing the value of the money in circulation. As a result, people couldn't afford housing or basic necessities despite working. This shifted wealth from the poor to the rich, empowering banks and ultra-rich corporations, and leaving most people struggling financially.
The fact that fiat money has no real value is not a hidden matter; it is known, and information about it can be found easily.
"Since the official end of the gold standard in 1971, US fiat currency has been backed by "full faith and credit" of the U.S. government."
The Corporate Finance institute also stated something similar:
"Fiat currency is not supported by any physical commodity, but by the faith of its holders and virtue of a government declaration."
This type of currency, which has no real value backing it, depends on authorities to maintain its worth and gives the central banking system complete control over the economy. This system has proven to be ruthless in its pursuit of profit, allowing the rich to keep getting richer while workers are exploited; creating profit for their employers without receiving a fair share for their own labor.
Banks can create and lend unlimited amounts of money as long as there are borrowers. They create money from nothing and lend it at high interest rates. This creates an unbreakable structure where every government and individual eventually owes money to the financial elite. The owners of banks and central banks are at the top of the global power hierarchy. In the UK, people pay almost 200 million British pounds in interest to banks every day, which only serves to move money from the bottom to the top of the pyramid. This system allows financial elites to control the population, multinational corporations, and governments.
Bartering and the History of Money
Before money existed, people used bartering—the direct exchange of goods and services without currency. This ancient form of trade dates back to the earliest human societies, where individuals and groups met their needs and desires by exchanging items they possessed for those they lacked.
In the time of Adam and Eve, as recorded in the Abrahamic faiths there was no such thing as money or currency. Cain became a tiller of the ground and Abel a keeper of sheep. During this time the people practised bartering, working and fulfilling each other's needs. From the beginning mankind was supposed to benefit each other according to the profession each had and contribute to the wider society in this system of bartering. Many are aware of the story of Cain murdering Abel out of jealousy, however not all know about what Cain did afterwards which influenced later generations of mankind until today.
“Cain endeavoured to immortalise his name by means of monuments, and he became a builder of cities. The first of them he called Enoch, after his son, because it was at the birth of Enoch that he began to enjoy a measure of rest and peace. Besides, he founded six other cities. This building of cities was a godless deed, for he surrounded them with a wall, forcing his family to remain within. All his other doings were equally impious. The punishment God had ordained for him did not affect any improvement. He sinned in order to secure his own pleasure, though his neighbours suffered injury thereby. ... He also introduced a change in the ways of simplicity wherein men had lived before, and he was the author of measures and weights. And whereas men lived innocently and generously while they knew nothing of such arts, he changed the world into cunning craftiness. Like unto Cain were all his descendants, impious and godless, wherefore God resolved to destroy them.” - (The Legends of the Jews, Louis Ginzberg, Vol. 1, Chapter 3, pp. 115-116)
Cain changed the “simplicity wherein men had lived before and he was the author of measure and weights.” The corrupt capitalist system that we live in today was born out of the greed of Cain and his descendents, it was never how God intended humanity to live.
Bartering, unlike the current monetary system, eliminates the need for a centralised authority to control the flow of money. It encourages direct and fair exchanges, creating a sense of community and cooperation. In a bartering system, goods and services are traded based on their intrinsic value, not on artificial valuations imposed by market forces or manipulated by financial institutions. This leads to more stable and fair transactions, reducing the disparities seen in modern economies. Removing money means that it is not possible for people to accumulate wealth in the same way and to profit from the work of other people.
“The Goal of the Wise” states that in the Divine Just State money will be abolished and that every transaction will be backed by gold and silver until even that becomes worthless:
“The Imam (From Him is Peace) said, “Money and gold and other than that shall not have any value at that time, and people shall not care about it.’ I said, ‘So everyone shall be comfortable, and they will worship God?’ The Imam (From Him is Peace) said, ‘There shall not remain a single person in need, nor a hungry person then.’”- (The Goal of the Wise)
After this everyone will work to contribute to the state and have all their needs provided for — for free.
“The plumber works to better society and serve it and has access to everything he needs for free. The doctor in turn does his part and so does the lumberjack or the engineer or the teacher or the fireman. A society where no one must chase money, for money has no value, and all people are entitled to everything, and everyone works not for money but for the honor of contributing to mankind. People at that time will be motivated by honor and love of country and mankind, and not by greed and love of the self and the world.” - (The Goal of the Wise)
God has provided more than enough sustenance for everyone to have what they need for survival and to live a comfortable life. Imam Ali said:
“Allah ordained that the livelihood of the poor is in the wealth of the rich. Whenever a poor man is hungry it is because of what a rich man has enjoyed; and Allah will question them about it.” (Mizan Al-Hikmah (Scale of Wisdom), Mohammed Al-Reyshahri, Vol. 3, p. 2308)
It makes no sense that people continue to struggle so much to afford basic necessities. The power of the financial elite is based on an illusion and relies on the participation of the majority. There is no need for the people to continue propping up this system that allows others to oppress them and only benefits a very small minority of selfish people to have much more than they need.