Sunday, January 07, 2007
History of Interest (Usury)
Because some people forget that money does not beget more money all by itself.
The article fails to discuss the role of the currency source issuer, typically the central bank, however it still serves useful to understand why the charging of interest on loans of money is unfounded where the charging of interest on loans of cattle or seed can be logically supported.
I am not entirely opposed to the notion of charging interest on money loans that are lent by private individuals. It is the loaning of money at interest by the central bank who is the source of all currency that creates the big systemic problem. Of course to the usurers, this is not a problem, just a way of life.
The article fails to discuss the role of the currency source issuer, typically the central bank, however it still serves useful to understand why the charging of interest on loans of money is unfounded where the charging of interest on loans of cattle or seed can be logically supported.
I am not entirely opposed to the notion of charging interest on money loans that are lent by private individuals. It is the loaning of money at interest by the central bank who is the source of all currency that creates the big systemic problem. Of course to the usurers, this is not a problem, just a way of life.
# posted by DeeLoaf @ 1:11 PM 
