Do You Believe in Usury?|
|Date:||February 7th, 2009 05:13 am (UTC)|| |
Re: All interest is usury
"I just want someone to tell me, with out a doubt, that I'm wrong."
I found someone to prove me wrong!
To sethb (and others), I apologize if this thread sounded like a flame war.
I think what you (sethb) was talking about when you say you gave $100 to a friend and they now have money to spend on something else is called the velocity of money. The frequency of exchange of money in the economy can allow even the originally created money as a debt to be reused over and over. Wow, this makes so much sense now. Just needed to hear the term velocity of money as it is applied to economic theory.
So, back to the usury/interest question? I don't know. I've always been inclined to say that it's your money so do with it what you want. Which I struggled with while under the illusion that all money used in any transaction had debt behind it. With the velocity of money theory, maybe charging interest is okay.