What About Usury?

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What About Usury? by anticorruptionsociety LET'S START BY LOOKING AT AN EXAMPLE OF MORTGAGE REPAYMENT AS IT IS INFLICTED ON THE GENERAL POPULATION TODAY: Typical bankster usery terms Mortgage amount: $100,000 Rate: 6% Term: 30 years Total amount paid to bank: $239,400 Amortized payment: $665 Non-egregious pay back terms - still allowing 6% interest Mortgage amount: $100,000 Rate: 6% Term: 30 years Total amount paid to bank: $106,000 Amount of 360 equal int/prin payments: $294 Considering the 'bank' has used not one red cent of its own money to make this loan - taken absolutely zero risk - this is not only usury, it is extortion!! (See Credit River Decision) ______________________________________________________ Norman Jones, Utah State University The Greek ht: 16.8pt;"> The question of when and if money can be lent at interest for a guaranteed return is one of the oldest moral and economic problems in Western Civilization. The Greeks argued about usury, Hebrews denounced it, Roman law controlled it, and Christians began pondering it in the late Roman Empire. Medieval canon lawyers adapted Greek and Roman ideas about usury to Christian theology, creating a body of Church law designed to control the sin of usury. By the early modern period the concept began to be secularized, but the issue of what usury is and when it occurs is still causing disputes in modern legal and theological systems. Aristotle The Greek philosophers wrestled with the question of whether money can be lent at interest. Most notably, Aristotle concluded that it could not. Aristotle defined money as a good that was consumed by use. Unlike houses and fields, which are not destroyed by use, money must be spent to be used. Therefore, as we cannot rent food, so we cannot rent money. Moreover, money does not reproduce. A house or a flock can produce new value by use, so it is not unreasonable to ask for a return on their use. Money, being barren, should not, therefore, be expected to produce excess value. Thus, interest is unnatural. Read more of this post anticorruptionsociety | February 24, 2013 at 7:54 p02 | Tags: banking, debt slaves, usury | Categories: Banking, corruption, Government | URL: http://wp.me/pL4fZ-22f Comment    See all comments