Interest rate is amount charged for use of money, divided by the principle,
expressed as a percentage. Once upon a time it was real money that was lent.
Nowadays it is simply figures created in the bank's computers. No "real money"
involved. Anything divided by nothing equals infinity.
I do admit I was oversimplifying and being a bit facetious, which is why I was
prepared to accept some ratio less than infinity. Interesting concept though,
surely? Beats ordinary usury hollow!
And greetings, Joe!
John R.
From: Joe Thomson <thomsonhiyu@shaw.ca>
Reply-To:
socialcredit@elistas.com
To: socialcredit@elistas.com
Subject: Re:
[socialcredit] The Monopoly of Credit--Usury
Date: Mon, 25 Sep 2006 21:07:18
-0400
(John Rawson wrote:-) Fair enough. But what is the real interest rate on
money created "out of nothing" by the bank? One thousand percent? Infinity?
(Joe asks:-) Could you elaborate a little bit on this, please? Not quite sure
what you're getting at here.
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