RE: [Futurework] (no subject)

[Lawrence DeBivort]

This definition of 'hawala' is nonsense. I would guess it is written by someone with an anti-Muslim agenda.

 

The hawala system is a type of fund transfer system (not a bank at all), quite akin to that developed by the Templars, but geared equally to large and small depositors. It is something like Western Union.  It makes no more sense to say that the hawala is "a banking system built for terrorism." than it does to say that the Templar system or Western Union is "a banking system built for terrorism."

 

Hawala are not particularly oriented to Dubai -- any more than any other place -- as it does not require a 'hub' at all.  Perhaps Time mistook the structure of hawala for the very large size of moneys flowing in and out of Dubai.  But I would guess that in Dubai the bulk of such funds flow through western-style international banks, and not the hawala.  Not that anyone ever mistook Time for a reliable source...

 

The hawala is a very interesting and sizable phenomenon, and merits for those interested in how human beings conduct their affairs serious study.

 

If anyone is interested in such study, I can point you to knowledgeable sources.

 

Cheers,

Lawry

 

-----Original Message-----
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]On Behalf Of Harry Pollard
Sent: Wed, October 29, 2003 4:25 PM
To: "Futurework" <
Subject: [Futurework] (no subject)

Hi,

Bruce Michels, a Georgist living in the San Joaquin Valley, sent this to me. He said:

-------------------------------------------

 I queried Google for hawala and came up with what follows:
 
http://freedom.orlingrabbe.com/lfetimes/hawala.htm         (there were other sites, too)
 
            "    ......,  Time magazine has called hawala "a banking system built for terrorism." They accused Dubai of being the hub of the hawala business. But Time gave its game away by ominously noting: "Dubai is a free trade zone with no limitations on the movement of goods or currency."

------------------------------------------

Wow! It's a free trade zone.

Something must be done!

Harry

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