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Usury
RaceBannon
Member, Swaye's Wigwam Posts: 101,173
in Tug Tavern
Question: "What is usury in the Bible?"
Answer: Usury is, by modern definition, the illegal practice of lending money at unreasonably high rates of interest. Usury is usually carried out with the intention of the lender, or usurer, gaining an unfair profit from the loan. A modern slang term for a usurer is loan shark. Somewhat complicating the matter is the fact that, before the creation of usury laws, usury could refer to interest in general. Now, usury refers to exorbitantly (and illegally) high interest rates. The King James Version uses the word usury in its now obsolete sense. For example, in Exodus 22:25, the basic rule regarding interest is “If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury” (KJV). However, in the English Standard Version, the same verse reads, “If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him.”
In the Old Testament, the Israelites were forbidden from charging “usury,” or interest, on loans to fellow Jews (Deuteronomy 23:19), but they were allowed to charge interest on loans to foreigners (Deuteronomy 23:20). The earlier iterations of this law in Exodus 22:25 and Leviticus 25:36–36 make it clear that it deals with loans made to fellow Israelites who were experiencing poverty. Having to pay back the loan with “usury,” or interest, would only put them further into debt and was not beneficial to the economy. Loans to foreigners, however, were considered more of a business deal—such loans were seen as international commerce and therefore allowed. This law served as a reminder to the Jews that helping those in need is something that should be done without expecting anything in return.
Many of the loans we are familiar with in modern times come from banks, and the Bible doesn’t say much about this. While the Bible does not prohibit the charging of interest, it does warn against becoming too concerned with money, telling us that we cannot serve both God and money at the same time (Matthew 6:24). We are reminded that the desire to be rich leads to destruction and that the love of money is the root of all sorts of evil (1 Timothy 6:9–10).
Early Christians found interest to be a sin which led to Jews becoming the bank and was an anti semetic tool used to justify pogroms among other reasons. Today's anti semitics are still at it
Payday loans disappearing will not help the people that rely on them despite how stupid it is. Same with high interest credit cards. These laws will simply widen the gap between the haves and have nots. I don't care either way like @GrundleStiltzkin
By the way how come leftists are always trying to impose their religious beliefs on us? Is this the looming theocracy I've been hearing about?
Answer: Usury is, by modern definition, the illegal practice of lending money at unreasonably high rates of interest. Usury is usually carried out with the intention of the lender, or usurer, gaining an unfair profit from the loan. A modern slang term for a usurer is loan shark. Somewhat complicating the matter is the fact that, before the creation of usury laws, usury could refer to interest in general. Now, usury refers to exorbitantly (and illegally) high interest rates. The King James Version uses the word usury in its now obsolete sense. For example, in Exodus 22:25, the basic rule regarding interest is “If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury” (KJV). However, in the English Standard Version, the same verse reads, “If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him.”
In the Old Testament, the Israelites were forbidden from charging “usury,” or interest, on loans to fellow Jews (Deuteronomy 23:19), but they were allowed to charge interest on loans to foreigners (Deuteronomy 23:20). The earlier iterations of this law in Exodus 22:25 and Leviticus 25:36–36 make it clear that it deals with loans made to fellow Israelites who were experiencing poverty. Having to pay back the loan with “usury,” or interest, would only put them further into debt and was not beneficial to the economy. Loans to foreigners, however, were considered more of a business deal—such loans were seen as international commerce and therefore allowed. This law served as a reminder to the Jews that helping those in need is something that should be done without expecting anything in return.
Many of the loans we are familiar with in modern times come from banks, and the Bible doesn’t say much about this. While the Bible does not prohibit the charging of interest, it does warn against becoming too concerned with money, telling us that we cannot serve both God and money at the same time (Matthew 6:24). We are reminded that the desire to be rich leads to destruction and that the love of money is the root of all sorts of evil (1 Timothy 6:9–10).
Early Christians found interest to be a sin which led to Jews becoming the bank and was an anti semetic tool used to justify pogroms among other reasons. Today's anti semitics are still at it
Payday loans disappearing will not help the people that rely on them despite how stupid it is. Same with high interest credit cards. These laws will simply widen the gap between the haves and have nots. I don't care either way like @GrundleStiltzkin
By the way how come leftists are always trying to impose their religious beliefs on us? Is this the looming theocracy I've been hearing about?
Comments
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