The UsuryFree Eye Opener

The UsuryFree Eye Opener is the electronic arm of the UsuryFree Network. It seeks active usuryfree creatives to help advance our mission of creating a usuryfree lifestyle for everyone on this planet. Our motto is 'peace and plenty before 2020.' The UsuryFree Eye Opener publishes not only articles related to the problems associated with our orthodox, usury-based 1/(s-i) system but also to the solutions as offered by active usuryfree creatives - and much more for your re-education.

Tuesday, August 02, 2011

The Sin of Usury

by Michael

"I'm not going to research this article, because if I started to do that I would never even begin to be able to write about a very important topic. So this is just off the top of my head and I may get some of my facts wrong. I'll also engage in "sweeping generalities" but again I'm trying to get across the big picture and I'm not inclined to spend the time researching this right now.

In other words, this article is strictly my opinion. You may say that isn't any different from my other articles, but I usually spend a lot of time finding online references to back up my opinion. So don't expect to find any links in this article, not that most people follow links anyway.

I'm going to start off by giving my definition of usury. Again, this is just off the top of my head. If I were to look up an exact definition, that would just get me started down a giant rabbit hole of how to exactly define the word and how different people have defined it different ways at different times. I'm not interested in that right now.

I define usury as lending money at interest. And of course if someone is lending the money, then someone else is borrowing it.

Some may say that what is important is the interest rate. And that it only becomes usury when it involves high interest rates. I'm not going to make that distinction. I'm also not going to distinguish between simple interest and compound interest. Although obviously, compound interest only compounds the sin.

My understanding is that usury was a sin as defined by the Catholic Church throughout history. I don't know about the pre-Christian Jewish definitions so I won't get into that. I also won't get into whether or not Jewish merchants in medieval times were the source of usurious lending. I'm not interested in that, and it is another black-hole that I don't want to explore at this time.

The big change as I understand it happened with the Protestant Reformation. And the key figure was Calvin. He was the one that decided that usury should no longer be a sin. His followers became the Calvinists.

I don't know which Protestant denominations are considered the most Calvinist, but it doesn't really matter. As far as usury goes, virtually all Protestants have full adopted the Calvinist position that usury is not a sin.

Catholicism I believe still considers this to be a sin -- although you wouldn't know it in practice. The Church probably nuances it with some statement about very high interest rates, but that is like trying to distinguish between different forms of contraception and labeling some a sin while others OK.

Usury was what allowed capitalism to flourish. Capitalism is not just about a free economy, it is also about "capital" -- that is, money. And it is about banks. It is about an abstraction of money, which is no longer something tangible. It is just a line in a balance sheet. It is a number. It doesn't necessarily reflect a physical reality like so many cattle, or acres of land, or barrels of wine.

Money takes on a life of its own. It becomes a god.

All this is possible because of usury. Because without the lending of money, then once a transaction is completed it is over. You exchange your two pieces of silver for two rabbits and the deal is done. There is no need to maintain a record of the transaction.

But if you borrow the money to buy the rabbits then the transaction is not over. A record must be kept. And as money is borrowed to repay another lender, the web of debt gets ever more thick and complicated.

This begins to quickly affect prices. If people had to save up money to buy a home, and then pay in cash then undoubtedly home prices would be lower.

And it would also be true that people would purchase smaller and more modest homes because they wouldn't be able to save up enough money to purchase a larger and more luxurious home. And maybe that would be a good thing.

Like all false gods, this one is eventually exposed when the drought comes. No longer do the sacrifices to the false idols bring the rain. They never did, it was all just an illusion; a hoax perpetrated by the priests of the religion.

When the magic fails, the people who placed their belief in false gods become disillusioned. The faithful that trust in the LORD have no reason to lose their faith. In fact their faith will be increased.

Trust in the LORD!" (snip) ...

NOTE: This article is originally published at this website:

Michael's blog has many other relevant articles:


At 6:16 PM, Blogger Sam said...

The problem with usury is the interest cannot ever be repaid in additional currency, only assets. The trick is people only think on a small personal scale. I can borrow $5000 from the bank, make payments with interest from the income from my job (which the car is needed for), and eventually pay off the loan. The bank got interest and I got a car before I could afford it. Win win.

However, if you step back and look at the fact that all the currency in the world is earning interest right now, simultaneously, you will see the scam. Even if you have cash in a sock drawer your government borrowed the currency from a central bank that charges interest on the currency it printed from thin air. If all the currency in the world is earning interest, then technically there is physically and literally no additional currency to pay back that interest. All currency is either loaned out or in a bank. If you buy something it simply transfers from your interest bearing account to someone else’s interest bearing account. Loans simply transfer money from the lenders bank to the seller’s bank.

Now why is this good for banks? It’s like an evil game of musical chairs. At first the world as a whole can service their debt with more debt, but the day will come when they can’t service their debt anymore with more debt. The only way to pay back the interest is with assets. Businesses, homes, products….they will all be taken as payment on debt at some point. Usury is slow, complicated, scheme of theft.


Post a Comment

<< Home