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15190964? ago

Interest is not an evil.

It is a reflection of values inherent in the universal truth about human action, which is positive time preference.

It is an economic law based on what we are.

All else equal, a good or service is worth more the closer in time it is to an individual's utility.

$10,000 received in the year 2068 is worth less than $10,000 received today.

In order to convince me to give up $10,000 for 50 years, which is value given by me voluntarily to a borrower, I am not a sheep, I expect value to be given by the borrower to me. If they're greedy to want the $10,000, I'll be greedy to want something in return.

If the borrower offers me a larger payback in 50 years, I just might agree to lend them the $10,000 today.

CALL THIS "USURY" ALL YOU WANT. POINT A GUN AT LENDERS AND BORROWERS ALL YOU WANT, YOU CANNOT OVERTURN ECONOMIC LAWS BY PHYSICAL FORCE.

In every attempt throughout human history to stop "usury", including some of the backwards civilizations whose governments have laws against it, they don't actually stop it because the economic laws manifest in lenders and borrowers still paying and receiving interest, it just takes a different form, but the interest is there. Only a FOOL would lend and lend and lend and lend and agree to have one sided trade "deals" where the borrowers get value but the lenders don't. If its greedy to charge interest, SO IS ASKING FOR INTEREST FREE LOANS, WHICH IS EFFECTIVELY MONEY FOR NOTHING (and the chicks for free)

15192391? ago

It's good to see you don't have a clue how the monetary system works.

The basic premise is that I make you believe that I'm giving you something of Value when I'm actually giving you nothing, and then I tell you you have to pay me back the nothing I gave you as well a bit extra for the privilege of me lending you nothing.

15193329? ago

I have a PhD in economics, specializing in international foreign exchange and debt channels.

Your post contradicts itself by the way.

If the loan is worth nothing because it's toilet paper money, then the interest is also worth nothing because it's in the same denomination, numbnuts.

Or, NEWS FLASH, while said toilet paper money can be argued as not an ideal currency if the goal is to prevent a bunch of satanic bastards from taking control of the production and distribution of money to plunge the world into darkness, the law still requires us to pay taxes in that shit, so unfortunately the people are being effectively forced to act as if the toilet paper has value, and from a shaky perspective even fiat is valued in the market, such that people seek to borrow AND pay interest.

Interest and loans would still be around even with a pure 100% reserve gold standard.

15201677? ago

Interest and Loans may still be around...only for the stupid. But you've been indoctrinated by the cabal system.

15202684? ago

^ ^ ^

Communist projecting it's programmed by the communist cabal.

STOOPID