well thats true, and im not saying lending is univesally bad. like there are other systems where the lender takes on part of the risk and makes profit when the venture is sucessful. or there is for example muslim banking etc which is less usurious due to religious restrictions

even in old italy there were lending systems that allowed for profit but iddnt technically violate ususry laws st in place by the church

I'm guessing by usury, you mean an excessive interest rate / APRC?

not that im saying the church should be the sole authority on this, just that they used to take an interst (pun intended) in it

charging interest at all in most cases is ususry, but especially compund interest. also related actiuons are usuurious like for example a grasping landlord etc

there are ways to get the equivalent of interest without violating ususry, but interest in general is a slippery slope

" the real meaning of usury: when, from its use, a thing which produces nothing is applied to the acquiring of gain and profit without any work, any expense or any risk"

Fifth Lateran Council

imo interest is an effective repayment guarantor. It could be argued that lending the money is a risk in and of itself.

Creditors just need to be careful not to cross a line of excess, and those that borrow need to make sure they don't get stitched up.

not when the lender can force repayment or confiscation of the debtors goods as repayment

rip

or you know, ruin their life through credit scores and bankruptcy

@pollyanna Well there is definitely risk in the stock market

the profit of leeches means nothing compared to even one ounce opf human suffering

imo If you're entering into debt where repossession is in the clause, that's the persons mistake.

i eman these people are vampires, i dont have any sympathy for thier *profits*

if it was uop to me we'd boil their bones and feed the orphans

That’s an *excellent* example!
I only know what I’ve read mostly from Wikipedia about muslim’s economic practices. But from what I little I know about it, isn’t Muslim lending able to be more lax partially because of Muslim borrowers feel a stronger Mora obligation to repay debts?

I’m Christian, but I’m disappointed in how many people in America don’t feel a stronger obligation to repay their debts.

I'd prefer a system where interest is returned to the debtor on completion of the entire loan.

like the abuses of this class of people are how the commies gain support in the first place

Something something federal buildings.

Did you fuckers already forget about CHAZ?

@PsyZarr never heard of that before, interesting

maybe minus a few percentage points would work

yeah some of the stabnility of muslim banking is cultural, but it has been applied or adapted in other areas. even the medicis for example i believe were influenced by arab practices

I think that attacking the capitol was bad but at least they were ungry with the government and attached the capitol not like BLM shit that was ungry with the government and looted shops

Yeah, the idea is maintaining an almost "deposit" as an "oath" of repayment. Because lending money with no interest offers no incentive for repayment.

no one attacked the capitol

AOC said the looters were just trying to feed their starving families. I guess black people eat nikes?

Yeah they just entered

If you give me $100 and I shake your hand and tell you I’ll give you $110 next week - you’re relying on that money.
What gives me the right to borrow that money and not feel a strong obligation to pay you as we agreed. Perhaps you need that $110 next week to pay off *your* debt.

I’m not American so I have some language barriers and I can’t tell my thoughts properly so sorry 😂

Arab medics? What do you mean?

@pollyanna love earthbound

what language

you are now pals with me 😄 im always happy when ppl recognize the icon 🙂

sweet

my favorite game I think