Usury is Plutocracy. Compound interest makes it unavoidable that the very richest own everything in generations.
And this is indeed what happened: Capitalism is one huge global monopoly. All the major banks own each other and most Transnationals plus a huge chunk of land. This juggernaut was built with the plunder of Usury.
We have all seen that Rothschild was worth 50 billion in 1850. At 5% per year, this fortune would now be a trillion, at 8% per year Rothschild would now be worth hundreds of trillions.
This is why it has been said that ‘compound interest is the strongest force in the Universe’
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2 comments:
There's no excuse for usury anymore. Usury is the taking of any interest on loans. It's not the "time value of money." At best, it's an insurance policy masquerading as the price of forgoing one's money for a time.
Usury in the aggregate is fraudulent, because it's a mathematically certain impossibility to pay back all loans without continually having to borrow.
The very fact that some people default is what keeps the money supply from continually increasing exponentially. Don't accept the slogan "free market" as justification for a flawed system. It's a privilege to issue credit tied to the nation's money supply, so it would be 100% free market for government to abolish usury by any bank given the privilege to create such credit.
There is no excuse to take a loan of any kind. You save and then buy what you can afford. Usury is for the useful idiots.
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