Banking Without Usury: A Thought Experiment (Ep.111)
In a financial system where we have a banking system that generates money out of nothing, what is the purpose of borrowers paying any interest at all? What is the societal purpose of banks to begin with? If usury is wrong at any level, even at a 1% interest, how could we have a banking system where it’s worth it to even be a bank? I think I have an idea.
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There is a reason that ‘usury’ has been considered immoral by many cultures. That reason is based on how effective ‘debt’ can be used to trap humans into slavery without hope of escaping. Historically, this debt trap degrades humans quickly into becoming sub-humans in the eyes of society leading to horrific violation of basic human rights from God. The ‘aggregated effect’ of this behavior also degrades an economy into classes of the very rich and the very poor, which suffuses the whole economic paradigm of an economy with stagnation of material wealth, innovation, and spiritual degradation from God’s plan for his creation of ‘Man/woman’. Jewish culture made provisions for debt relief called the seven-year ‘Jubilee’ to thwart the actions by unscrupulous people of using ‘debt’ and the ‘sin of usury’ to enslave people. The ancient punishment for the non-payment of ‘debt’ was harsh, and interest rates were ‘traps’, because the price of a slave, usually including the whole family, was always multiples of value greater than any debt. So it has been historically recognized as a ‘sin’ and ‘malignant’ process used by ‘demonic humans’ for the enslavement of humanity for the benefit of a small elite within all of mankind. It was not unusual for ‘interest rates’ to be 30% in ancient times…the goal being to make it impossible to ever pay back, so that the confiscation of labor and materials could be taken without effort with the benefit of also selling the whole family, usually divided up, into slavery. Many young boys were sent to the ‘Eunuch’ factories in Spain…as a Eunuch was worth multiple times more than an intact male. The elite wanted Eunuchs as servants to the females, where their insecurities about the males having sex were inculcated into the whole ancient cultural society. The young women were sold into sex slavery and intact males into death labor camps. It was not a desirable outcome for anyone accept the elite who built the customs, laws, and spiritual rituals to inculcate their money monopoly into the culture and also to protect their ‘demonic vileness’. “Money from nothing” is the oldest game in man’s history, which has always been used to inculcate the profit from ‘prostitution’ in some form…the second oldest profession in history. All usury leads to the same place…serfdom in the end.
Very true indeed. I’d also add that the ancient Sumerians and Mesopotamians had such Jubilees, in order to make up for unforseen tragedies like bad harvests etc.
There is a reason that ‘usury’ has been considered immoral by many cultures. That reason is based on how effective ‘debt’ can be used to trap humans into slavery without hope of escaping. Historically, this debt trap degrades humans quickly into becoming sub-humans in the eyes of society leading to horrific violation of basic human rights from God. The ‘aggregated effect’ of this behavior also degrades an economy into classes of the very rich and the very poor, which suffuses the whole economic paradigm of an economy with stagnation of material wealth, innovation, and spiritual degradation from God’s plan for his creation of ‘Man/woman’. Jewish culture made provisions for debt relief called the seven-year ‘Jubilee’ to thwart the actions by unscrupulous people of using ‘debt’ and the ‘sin of usury’ to enslave people. The ancient punishment for the non-payment of ‘debt’ was harsh, and interest rates were ‘traps’, because the price of a slave, usually including the whole family, was always multiples of value greater than any debt. So it has been historically recognized as a ‘sin’ and ‘malignant’ process used by ‘demonic humans’ for the enslavement of humanity for the benefit of a small elite within all of mankind. It was not unusual for ‘interest rates’ to be 30% in ancient times…the goal being to make it impossible to ever pay back, so that the confiscation of labor and materials could be taken without effort with the benefit of also selling the whole family, usually divided up, into slavery. Many young boys were sent to the ‘Eunuch’ factories in Spain…as a Eunuch was worth multiple times more than an intact male. The elite wanted Eunuchs as servants to the females, where their insecurities about the males having sex were inculcated into the whole ancient cultural society. The young women were sold into sex slavery and intact males into death labor camps. It was not a desirable outcome for anyone accept the elite who built the customs, laws, and spiritual rituals to inculcate their money monopoly into the culture and also to protect their ‘demonic vileness’. “Money from nothing” is the oldest game in man’s history, which has always been used to inculcate the profit from ‘prostitution’ in some form…the second oldest profession in history. All usury leads to the same place…serfdom in the end.
Very true indeed. I’d also add that the ancient Sumerians and Mesopotamians had such Jubilees, in order to make up for unforseen tragedies like bad harvests etc.