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overtheedge
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Money and Credit 2: Credit - Nathan Lewis - New World Economics

Usury is consensual.
If an entity doesn't like the level of interest demanded, don't sign the contract.
To sign and then complain is conclusive evidence that the entity should have been charged double for the trouble.

Perhaps you forget that loans and particularly consumer loans are not an entitlement.
The very premise that the borrower and/or a third party assigns the risk level and consequently the interest rate constitutes seizure of private property.

Commented 3041 days ago

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Beginning of the headline :"Money and credit" have tended to be mishmashed together, but they are very distinct. This confusion stems from the common practice of banks in the past (mostly before 1914) to both issue currency and also make regular commercial loans, like banks today. However, it is best to think of them separately. They are separate today, as the currency issuer (central bank) is distinct from commercial banks. They were also separate in the past, when only bullion coinage was used as money. In practice, thi... Read More

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