The Absurdity of Usury

What is Usury?  A simple definition: the charging of interest on a loan.  What upsets me about our banking industry, which the FED supports, is that they charge interest on money through nothing.  Let me explain:  let’s say a house cost $100,000; $30,000 for represents the cost of the land, sales commission etc and the rest ($70,000) is the cost of labor & builiding materials.  If the home buyer puts down $30,000, then $70,000 needs to be borrowed.  The bank charges a % interest for the loan and over the period of the loan will make an x-amount of money over and above what the loan was for – but here’s the kicker:  the lender (the bank) did nothing to earn that money, had not saved it, and, in fact, simply created it out of thin air (goes back to fractional banking).  With that being said, the figure that a true lender makes on his money is based on time-value and easily justified on the basis that a lender deserves to be compensated for surrendering the use of his capital.  What is the time-value of nothing?  The bank did nothing to earn the money they lent.  Folks, the banks have us coming and going.  They give you nothing on your money and use nothing to lend out money.  What a racket!!  They use usury to their advantage, turning us into identured servants.  The FED has been doing this for almost 100 years and the cause of many of our financial woes!!

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One comment on “The Absurdity of Usury
  1. nagalman says:

    Its not entirely fair to state that the bank did nothing to earn that money. They did pay for administrative and advertising costs. The biggest thing they did was to make the money available in the first place.

    I agree that the whole idea of an investment making money for an investor while the investor does little to no work is very frustrating though. There are a fair amount of people who just live off the “profit” of invested funds, certainly the banking industry is a perfrect example of this.

    Again, the best thing you can do is move all of your money and banking services to a federal credit union. They still charge interest, but it is generally much lower and the depositors (members of the credit union) are the owners of the credit union.

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