Should usury be outlawed?

[Tacitus]

Discuss.

[Tannhauser]

@Tacitus, Have you experienced unreasonably high rates?

[TheMaestro]

Never undestood why people cry about high rates of those kinds of things, noone is forcing you to borrow money. So I don't care whether there are high rates for borrowing money or not.

[Dragoon]

This is what I think:

A competing phrase for summing up Barren Metal could be “Capitalism is state-sponsored usury.” This is hardly a new idea, since German writer Werner Sombart explored the concept in depth in Jews and Modern Capitalism (1911). Jones describes Sombart’s idea thus: “capitalism is the philosophical and political sanctification of usury. Because money-lending, according to Sombart, is ‘one of the most important roots of capitalism,’ capitalism ‘derived its most important characteristics from money-lending’” (20).

Having looked at many instances of usury in the Western world, Jones argues that “usury … is the fundamental economic fact in the liberal state, and all political arrangements must deal with the unbridgeable chasm it creates. The creditor, who is on the positive side of usury, will prosper; the debtor who is on the negative side of the usurious equation, will sink into unrepayable debt and penury” (909).

https://www.theoccidentalobserver.ne...-usury-part-1/

[Blondie]

The complete bank sector is based on usury

[Zeno]

Yeah, because in a properly modern banking system, it shouldn't be allowed. I mean, today there's the means to sue the living shit out of a bank if it practices usury in your loans.

[Tacitus]

@Tacitus, Have you experienced unreasonably high rates?

Personally no, but I've seen it argued that charging *any* amount of interest constitutes as usury.

[Smaland]

1) (A Psalm of David.) LORD, who shall abide in thy tabernacle? who shall dwell in thy holy hill?

2) He that walketh uprightly, and worketh righteousness, and speaketh the truth in his heart.

3) He that backbiteth not with his tongue, nor doeth evil to his neighbour, nor taketh up a reproach against his neighbour.

4) In whose eyes a vile person is contemned; but he honoureth them that fear the LORD. He that sweareth to his own hurt, and changeth not.

5) He that putteth not out his money to usury, nor taketh reward against the innocent. He that doeth these things shall never be moved.

[KirillMazur]

The fact is that in the USSR, the private owner was not allowed to control the loan interest (except for short periods at the very end). Thus, the lending interest worked for the good of the whole society, and not for a bunch of greedy usurers.
Banks and their interest on loans are also means of production, and like all large, strategically important and state-forming means of production, as well as subsoil resources, must be deprivatized. Just imagine the resistance level - it will be huge.

Moreover, the modern development of IT technologies makes it possible to do this in the most reliable way.

But we live in an imperfect world and the instrument is often misused.

The de-privatization of interest rates will be used by globalists to destroy private property. One man with a mustache and smoking pipe knew how to deal with globalists, I hope this knowledge is not lost in the depths of the Kremlin.

[Daco Celtic]

At the very least, they should ban payday loan scams in the US. These hardly exited in the US until the 1990s.