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overtheedge
Member since May 2012
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has posted a comment on the article :

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

Condescend: v.i., 1. to wave dignity and superiority voluntarily and assume equality with an inferior.

Emotive response. A response given as an emotional appeal. In the case of usury, given as a rail against the lender.
Yet here we are with interest at an all time low and you are still clamoring over usury?
One might get the idea that there exists a subset of the population that feels (an emotion) there must be laws/regulations from third parties governing the costs relating to the rental of capital to higher risk parties who shouldn't be borrowing in the first place.
I do not defend the rental of capital for non-productive purposes and feel the borrower deserves their just desserts.
It is a private contract between the lender and borrower. Once again, it is voluntary.

If a party gets up in the morning and eats not one, not two, but three heaping bowls of fiscal foolishness for breakfast and then complains about a plate full of consequences for dinner, then they will get no sympathy from me.
We reap what we sow.
I note that your replies rarely include any counter argument. Almost solely just emotive responses.

Oh and by the way I, perhaps foolishly, assumed that those commenting on these articles were my equals. Your claims of my condescension might be interpreted as I am wrong about equality. I'll have to work on that in the future.

Best of the holiday season to you and yours.

Commented 3043 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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