No, although you'd be excused for thinking so -- I co-invented Freicoin afterall (http://freico.in/ http://freico.in/). I'm against nominal interest, which is t

No, although you'd be excused for thinking so -- I co-invented Freicoin afterall (http://freico.in/ http://freico.in/). I'm against nominal interest, which is the non-risk portion of the interest rate. But that is of zero relevance here. The point is that when I make a loan the interest rate is based on the risk of default, not how quickly it will be paid back. The rate shouldn't go up just because it's a short-term loan. Additionally, none of this loans are carrying enough risk to justify 5000% APR. This is pure extortion.