Credit Card Usury And The Christian Failure To Stop It
In November of 2010, Bishop Paul Peter Jesep, published the second edition of a book titled “Credit Card Usury And The Christian Failure To Stop It” with a subtitle “A Call To Social Justice Against The Money Changers.”
On pages 7 and 8 under the title “Call To Action” it is written: “The interconnected industries of banks, credit bureaus, and collection agencies have an enormous impact on the spiritual, emotional, and physical well-being of families and individuals.
Darwinian capitalism, evidenced in part by an absence of corporate ethics and responsibility, has caused a human rights crisis and many religious leaders do nothing about it. Fortunately, some are beginning to see the magnitude that debt (usury) has on the spiritual, emotional, and physical lives of their parishoners. Individual and collective consumer debt, which provides banks with a permanent, if not long-term revenue source, is increasingly being compared to modern slavery or debt serfdom. As banks exploit or enslave consumers, executives in the financial service industries are expected to receive a record $144 billion in benefits and compensation in 2010. It is a 4% increase over last year.
In light of the harm these industries are causing to families and individuals that range from arrests to driving some to suicide a response is needed comparable to Jesus chasing the money changers out of the temple.” (snip) ...
On page 75 and 76 it is written: “Here are further reasons why Christians should call for Jubilation and better monitoring and regulation of unjust gain:
- As of 2--8, 78% of America’s households had one or more credit cards;
- As of June 2009, Visa credit had 309 million cards in circulation;
- As of September 2009, MasterCard had 2111 million cards in circulation;
- In 2008, 26.5 billion credit card transactions occurred;
- About 88% of the credit card market were controlled by the top 10 credit card
issuers in 2006;
- About 14% of disposable consumer income went to service debt in the 4th quarter of
- Almost 15% of U.S. families ‘had debt exceeding 40% of their income;”
- Young adult households spent about 24% of income on debt payments;
- As reported in April 2009, 34 million Americans have been late making a credit card
payment and 18 million citizens have missed a payment;
- Based on April 2009, 58 million Americans admit not paying bills in a timely
- In 2009, $20.5 billion in penalty fees on credit cards will be assessed;
- According to a November 2007 survey, 90% of African-American families with an
income between $10,000 and $24,999 had credit card debt;
- In April 2009, 9 in 10 undergraduates reported paying for direct education with
credit cards; and
- Most people put credit card debt at the top of things to be discussed." (snip) ...
On page 79 is it written: “Credit card companies, by the way, refer to those who pay off debt each month as ‘dead beats’ and ‘free loaders." (snip) ...
On the back cover of the book it is written: “In this second edition, Bishop Paul Peter Jesep, documents that credit card usury is legal, widespread, and perceived as a legitimate form of commerce. Yet it causes despair, hopelessness, physical pain, emotional torment, and financial servitude. Long-term consequences due to a poor credit score include difficulty finding employment, higher car insurance, the ability to secure safe and affordable housing, and in some cases ineligibility for needed educational loans.
At a time when greed is at an all time high, Christian leaders have consistently failed to use their pulpits to speak our against credit bureaus, collection agencies, and credit card companies. Christians have long advocated for social and economic justice, but have overlooked the serious injuries this sector of the economy causes.” (snip) ...
The book is now available at Amazon at this link: http://www.amazon.com/Credit-Card-Usury-Christian-Failure/dp/145375329X and probably at other book stores also.
To communicate with Bishop Paul Peter Jesep, contact him by these details:
Bishop Paul Peter Jesep, Ukranian Orthodox Church, 1737 Union St. PMB 464, Schenectady, New York, 12309 Tel: 1-518-496-2096 Email: VladykaPaulPeter@aol.com
NOTE: On October 5, 2009 I posted an article at my blog - The UsuryFree Eye Opener titled: “Letter To Mainstream Religious Clergy About Usury.”
It is posted at this url:
I have sent this letter to various clergy from different religious organizations and I either got a form letter back which says thank you for you letter or in most cases there was absolutely no response at all. If any reader knows any clergy members who are ready and willing to address the evil and immoral aspects of usury, then please invite them to (a) read Peter Paul Jesep’s book and (b) spend some time reading the information compiled at The UsuryFree Eye Opener.
NOTE: More highlights from Paul Peter Jesep’s book at this website: