12 December, 2011

On Usury

Posted by Socrates in 'anti-Semitism', bankers, banking, Catholicism, intellectuals, interest payments, literature, loans, Socrates, usury at 2:51 am | Permanent Link

by Hilaire Belloc. (A Catholic writer, Belloc [1870-1953] has been accused of anti-Semitism, but he really wasn’t an anti-Semite).

[Article].


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  7. 10 Responses to “On Usury”

    1. George Lenz Says:

      An incorrect teaching from a man not familiar either with economics of his time or with the sound Christian doctrine

      Usury in a strict sense means taking any interest. Profit from an investment is derived from investing capital, sharing a risk of a productive enterprise, including loss of an invested principle and paid out of earning from such an enterprise. A party that shares not the risks of a productive enterprise is not entitled to the share of its profit. Prudently extended interest bearing loans involve no sharing of risks of productive enterprise, loan principle being guaranteed by liquid collateral and loan interest not dependent upon profitability of a productive enterprise, and therefore interest on loans constitutes usury strictly defined and should eventually be made unenforceable in courts of law.

      Usury in a less restrictive sense means taking high interest, above 10% p. a. on both productive and non-productive loans, as productive ventures after factors of production are paid and normal profit taken cannot pay interest rates above 10% on borrowed capital in a predominant majority of cases. Attempts to hold interest rates above 10% always lead to large scale speculative ventures, loss of investments and loan principles and eventually to bankruptcy of usurious financial institutions and public unrest. Less restrictive definition of usury can be employed in transition period when economy is being transferred from usurious to non-usurious basis.

      False catholic doctrines like that of Belloc were enshrined in various laws in Spain, Portugal, Italy and Eastern European catholic countries, partially leading to the present debt crisis in these countries and the wave of bankruptcies of small and medium sized firms, unable to service ever growing debts accumulating due to usurious interest. Attempts to charge usurious interest to productive firms is a prescription for unemployment and economic growth retardation, public unrest and accelerating inflation.

    2. CW-2 Says:

      Belloc, an ‘old-style Catholic’, writes an interesting article. His analogy of a self-contained economy to a date palm oasis is particularly apt. The ruinous effects of usury were masked during the great age of European world expansion when hard working and intelligent White people were increasing in number and able to bring into production vast agricultural and mineral resources.
      So ‘productive loans’ and capital accumulation during that golden age are now being wasted as ‘unproductive loans’ to the third world. Unproductive loans generate unsustainable debt, misery and inflation. We are witnessing this trend even within Europe. The Ejew and the jewro currency are bound to collapse because resources both physical and financial are being diverted from productive countries, mainly Germany, to countries such as Greece and Portugal which lack the material and human resources to produce a ‘return’ greater than that demanded by the banksters.

    3. Eumaeus Says:

      Usury is like an anabolic steroid for capitalism. The economies that embrace it muscle up faster and they also die faster.

      The unleashing of usury by Calvin fueled the industrial revolution in the countries which embraced the Rformd doctrine, speciifcally Nederlands and the United Kingdon.

      The compounding of interest enslaves poor people foolish enough to agree. Basically laws against usury stop people who make poor credit choices from getting enslaved by jews and banks due to a few poor chocies.

      usury is like gambling. A jewish tax on gentile cupidity.

      Make it illegal, at least in the sense it was illegal in the US before 92 or so, whenver it was legalized, such that banks cant charge more than ten percent over prime, then you will cut the guts out of the middle class equity stripping game that is the present Federal Reserve – big bank- jewish inspired socalled economy.

      Libertarians stupidly do not understand this, just like they cant fathom why we need to group to gether to fight jews.

    4. old dutch Says:

      @Eumaeus

      Calvin said “that money should be lent to people in dire need without hope of interest, while a modest interest rate of 5% should be permitted in relation to other borrowers.” That’s considerably less than your prime plus 10%.

      The Jews have been allowed to run wild in the US with schemes like payday loans, and “easy credit” at 21% and up.

      Now Jew owned casinos, & pro sports gambling all feed into the loan racket.

      Or the whole college education scam, that leaves young men and women with thousands of dollars of debt from which they have no way out.

      Some debt is necessary, but, not all debt is good!

    5. old dutch Says:

      @Eumaeus

      Calvin said “that money should be lent to people in dire need without hope of interest, while a modest interest rate of 5% should be permitted in relation to other borrowers.” That’s considerably less than your prime plus 10%.

      The Jews have been allowed to run wild in the US with schemes like payday loans, and “easy credit” at 21% and up.

      Now Jew owned casinos, & pro sports gambling all feed into the loan racket.

      Or the whole college education scam, that leaves young men and women with thousands of dollars of debt from which they have no way out.

      Some debt is necessary, but, not all debt is good!

    6. George Lenz Says:

      “Some debt is necessary, but, not all debt is good!”

      In fact, for a sound man debt is unnecessary.

      And under people-oriented free enterprise no interest-bearing debt is permitted: economic activity is funded by investment, and not interest bearing debt.

    7. Tim McGreen Says:

      Old Dutch is spot on. The Jew has a million and one schemes great and small to ensnare his goy victims with debt. But it is the establishment of the Jewish-controlled “Federal Reserve” that puts King Kike in total control.

    8. Emily Says:

      Thanks, Alex, for this posting this. Extremely useful for discussion. Especially the real reason for the Roman Empire’s breakdown, the temptation of usura personal financial loans. You can still argue they both exist today, usuria & law & order–like two opposite teams, both engaged to win. So, where do “you” stand? Generating your own mint as only one factor of the entire equation.

    9. Howdy Doody Says:

      http://www.youtube.com/watch?NR=1&feature=endscreen&v=_MetS3K3TC4

      Emily, as long as their in power you can trade/barter Carrots or turnips with out them coming after you.

      The work around scheming not only how rob US, but how to hurts US at the same time, their hate and greed are as one.

    10. Z.O.G. Says:

      Emily,

      Alex didn’t post this. In fact, Alex Linder is a die hard libertardian who thinks that gold is money and that money should be created by private banks, which is already the case, of course.