Wednesday, October 22, 2008

Usury

Hi All,

its been a while since this blog has hosted any discussion, so I thought I would ask around and see what is out there.

I have never been taught much about money. My parents did a good job of ensuring that I knew the value and importance of tithing, so that has never been a question in my life, but I had no idea that Usury was such a big deal, recently I came across a video, which I have posted here that explains the way that banks make money. It shows that in the past, money was based on an agreed upon measurement of gold that the bank had and could produce on request, but now banks give out loans based on other people's agreements to pay back loans, which in essence, is a license to print money. This video explains in cleverly simple graphics and clear language how Usury is the cause of the problems that we are facing economically. It doesn't mention it specifically, but the inference is not hard to make or see.
A sort of local monk once told me that participating in the banking system was less than ideal, but as people who live in the world, there are not many options. Perhaps barter systems or interest free banking is an option?

5 comments:

matushkadonna said...

Hey,people, to facilitate sharing & discussion about posts like this & between members who have blogs of their own, I've added a blog feed in the right hand column. Scroll down below the pic of bells & quote from Saint Herman.

Since David linked to his blog in this post, I assumed he would want to be in that list; however, I know not everybody wants to make their blogs that easily accessible to anyone who views Spruce Island. So please let me know if you want to have your blog included in that feed; otherwise I will not add it.

matushkadonna said...

oh, and hey, David-- I added 'labels' to your post. If we label posts with 'discussion' and the topic, we'll be able to find them again more easily when they've moved downward.

elizabeth said...

Mat. Donna - i guess i thought our blogs were accessible via our names as contributors to the blog...

Hey Dave,

i am not sure i have anything to say about the question of usury. to me banks being the main finacial insitution, it seems a bit unavoidable; even the parable of the talents mentions banks, which i do not bring up to justify banks, but to show how they have been around a long time...

i was challenged yesterday when at a teaching by my parish priest and he talked about the fact that too many questions can distract us from the real question we need to be asking ourselves; that really made me think... so no answer to the question other than a thought about how i need to think about my own questions and what they may be doing to me!

take care. :)

matushkadonna said...

yes, Elizabeth, people can find out about our blogs if they click your name on the contributor list and go to your profile (unless you have your privacy settings so that they can't). What I am offering is to put a direct link/feed right on the blog page, where people can click straight through. I will only do that with people who are clear they want people to reach their blogs that easily.

Sorry, Dave, didn't mean to hijack your topic. I will leave this now and make a separate post about it next week-- after I post the newsletter stuff this weekend.

eileen mountain said...

Hi Dave, Usury probably refers to the loaning of money at such high interest rates that people are unable to pay back down the principle thereby remaining in debt forever. Loaning money at reasonable rates..say below 14% probably does not qualify as usury.