Author Topic: Orthodox teaching on usury.  (Read 189 times)

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Offline Xavier

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Orthodox teaching on usury.
« on: August 04, 2017, 12:38:40 PM »
Does the Orthodox Church have any specific teaching on usury? The Bible and the Fathers speak against usury especially but not exclusively on loans to the poor. In the ot, it was forbidden to lend at interest (which is synonymous with usury, and Calvin was essentially the first to introduce an arbitrary distinction between the two, because usury was held in universal scorn) to one’s brethren and countrymen but permitted to lend to foreigners and enemies at usury. Our Lord goes further and tells us to lend freely to all without expecting a return thus to make brothers out of enemies,for usury can make brothers out of enemies. The Church has traditionally frowned upon interest and in most cases it is unnecessary and should be zero or at least nearly zero.

Most modern economic crises including recessions are due to central banking  (a Communist central planning idea advocated by Marx and Engels) and the high rates of interest they set. The federal funds rate was dramatically increased from 2.5 to 6.5 shortly before the ladt recession.

Interest is called the price of money, supposedly determined between savers and borrowers at a free market rate. But money being the medium of exchange in which prices are measured cannot have a price of its own, otherwise every good will have an inflated price because of it. The natural price of money is therefore zero and there should be no interest.

The time value of money - the final justification for interest - is a hoax. It is not true that a dollar today is worth less than a dollar tomorrow (or that $1 today=$1.1 next year) and that therefore a borrower should pay 10% interest. A dollar or any unit of currency is meant to be a stable measure of value and thus a dollar today must be equal to one tomorrow and so on in perpetuity. Which clearly shows any rate of interest (except zero) at all is.usury and unjust, though the travesty is worse the higher the rates are, especially with compound interest, and especially with fractional reserve banking as in most modern economies where money is created as debt, with interest on that fiat money created out of nothing. All recessions are caused by the fluctuations in the money supply caused by this.

Psalm 15:5 "He who does not put out his money at usury, Nor does he take a bribe against the innocent. He who does these things shall never be moved."
« Last Edit: August 04, 2017, 12:42:29 PM by Xavier »
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Offline Porter ODoran

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Re: Orthodox teaching on usury.
« Reply #3 on: August 04, 2017, 02:33:16 PM »,66181

Wow the claws came out really quickly in that thread. And the sophistications. To the glory of Christ, who prophesied, You cannot love and serve two masters.
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Offline Alpha60

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Re: Orthodox teaching on usury.
« Reply #4 on: August 11, 2017, 03:24:50 PM »,66181

Wow the claws came out really quickly in that thread. And the sophistications. To the glory of Christ, who prophesied, You cannot love and serve two masters.

+1   There was much casuistry and equivocation.
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