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The more fundamental problem is that interest is usury and usury is theft. And naturally, the entire modern banking system runs on interest (which is probably t

The more fundamental problem is that interest is usury and usury is theft. And naturally, the entire modern banking system runs on interest (which is probably the least egregious of all the wacky financial instruments out there). You'll hear nonsense about the opportunity cost and risk, none of which have any relevance to or rebut the notion that charging interest (as opposed to just fixed administrative fees) is theft. Time isn't a commodity, so why am I paying you more the longer it takes me to pay back my loan? Is your gold and silver ewes and rams? Shylock cannot tell. He makes it breed as fast.

bidirectional 6y ago
Of course time is a commodity. A (potentially false promise of a) dollar in one year is less useful than a dollar tomorrow which is less useful than a dollar right now. If you do believe interest is theft and time has no value, you can act as a kind of Robin Hood by putting all of your money into bonds from Goldman Sachs, the US government or whoever you deem the worst perpetrator of this theft. You'll literally be stealing from them!