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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (90486)	4/6/2003 10:18:23 AM
From: Ilaine	Read Replies (1) \| Respond to of 281500

>>you will enjoy studying Shia Fiqh<< I'll see if I can find some of it in English. Yes, I do like studying old law, and old economics (lots of overlaps). Much simpler and clearer than most modern law. Reading the US Code is like finding your way though a maze. But the person who translate the old foreign law needs to be someone who speaks English like a native and also understands the concepts being translated. Which reminds me - the other day I was talking about hawala and Kumar said it was very old - which I knew - and came from counries further east - which I suspected, but couldn't find anything when I was researching this last year. Probably most English commentators on law and economics can't read the old languages, and the people who can translate the old languages don't understand the significance. Hawala was, as far as I can tell, the first paper money. Let me back track here and say that it appears that the Sumerians had a similar system using clay. It's such a brilliant concept. Travellers don't have to carry "real" money, so they can't get robbed. I wish I knew when the persons holding the gold reserves first figured out that they could send out more symbolic money than they held in reserve. At some point they figured out that they only had to hold about 40% in reserve, and if there was a greater demand they could borrow it from each other. Very similar to the way the Federal Reserve works today.