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Originally Posted by schola  On a side note, just consider this. Have you ever loaned a friend money at interest? I haven't. What kind of friend would do that? Banks aren't your friend. |
Do you want a world with only barter? In such a world the concept of insurance could not exist. Insurance when done correctly improves society. There are nearly countless ways that money has allowed the world to advance itself.
Do you want a world where no money is lent?
Lastly, when I lend my friend 20 bucks for dinner I don’t charge interest. Now, if my friend asked me for $10,000 for the duration of a year. If don’t charge interest than I am losing about 400 dollars in interest income that I can make by keeping my money at bank, not the mention what it could yield in another investment. I am in the habit of buying lunch for a friend; I am NOT in the habit of giving my friends 400 dollars.
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Originally Posted by schola I mean usury as the charging of any interest on the loaning of money. I don't like to pay for being loaned unreal things. |
Money is a product just like anything else invented by men.