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Message 5431
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| Subject: | Re: [socialcredit] Definition of usury. | | Date: | Sunday, June 29, 2008 20:07:17 (-0600) | | From: | Martin Hattersley <jmartinh @....ca>
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I think you're right, Per. Getting out of the usury mess, and its economic
consequences, would be something like unscrambling eggs. Maybe that is why
Douglas suggested ways of countering its effects, rather than abolishing the
whole concept!
Martin Hattersley, 5929-189 St.,
EDMONTON AB CANADA T6M 2J1
Phone (780) 483-5442
e-mail <jmartinh@shaw.ca>
----- Original Message -----
From: "Per Almgren" <almgren_per@telia.com>
To: <socialcredit@elistas.com>
Sent: Sunday, June 29, 2008 1:29 PM
Subject: Re: [socialcredit] Definition of usury.
Joe Thomson skrev:
> (Martin wrote, quoting from R H Tawney's "Religion and the Rise of
> Capitalism" :-) "What remained to the end unlawful was that which appears
> in modern
> economics textbooks as 'pure interest' - interest as a fixed payment
> stipulated in advance for a loan of money or wares without risk to the
> lender.... The essence or usury was that it was certain, and that whether
> the borrower gained or lost, the usurer took his pound of flesh."
>
> -------------------------------------------------
> (Joe asks:- ) Wouldn't the money the Banks now PAY their depositors as
> interest on their deposits meet Tawney's description of "pure interest"
> and
> be the "essence of usury" by his definition?
>
> On a typical term deposit the interest is certain regardless of whether
> the
> Bank is gaining or losing in its business activities. It's a fixed
> payment
> stipulated in advance. And since there is now Deposit Insurance coverage
> to stipulated amounts per deposit, by staying within those limits per
> deposit
> there is virtually no risk to the 'creditor', (depositor ~ if Bank
> deposits
> are not 'bailments' in law but are classed as 'debts' of the Banks
> instead,
> as was discussed on here some time ago).
>
> So are we all committing some "unlawful" sin by RECEIVING "usury" on our
> deposits?
>
>
Not all of us. Some of us has put our money into interst-free accounts. :-}
Per Almgren
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