Regular readers will know that I am an ardent opponent of the practice of usury.
In the classical meaning of the word.
Indeed, it is my view that the practice of usury is The Key to the power of the money-lenders.
While many others have argued that the key to their power is their exclusive right to create money (debt) whenever they make a loan, I tend to disagree.
In the absence of the legal right to charge interest (usury) on those loans, the money-lenders’ power would be effectively nobbled.
They could be replaced by full public banking. Or by alternate, free currency solutions like my own.
This key issue of the charging of interest on “money” lending, its origins, and its legal history, is awash with myths, theories, distortions, and outright falsehoods.
There are many eloquent and…
View original post 3,943 more words