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Interest - Drakenish - 09.05.2012 01:31

What a horrible system that is interest. Interest is non existant when you lend out $100 of existing currency then ask say 10$ of non existing currency to be paid back is nonsense. It makes it where there is more debt than actual currency. So the money in your pocket is in reality debt and is worth less than well nothing. The only way to pay back the debt would be to expand the amount of currency and just abolish interest all together..

For loans to still exist it would have to be loaned out from the government as 0% interest loans. As there would be no profit for private lenders.

Probably what I hate about the world we live in is that the system is horrid....This is just one problem(there are many others) and all have existed since the source of the problems has been created. All the politicians are still idiots as they seem to be blind.


RE: Interest - h3lblad3 - 09.05.2012 02:11

What reason do I, or anyone else, have to give you money in a loan without any return? If I did that to multiple people, some of them would lose that money, and then I'm out some money. Or I can make it out off the others so I'm not losing. I can only lose so much before I'm out.

I wouldn't buy materials to make a sandwich for $1.00 and then charge only $1.00 for the finished product. It's the same concept. A business exists for profit. Yes, even businesses that give loans.

Do I think some interest rates are ridiculous? Yes. But not letting them gain anything for the risk they're taking is ridiculous, too. It's like telling a business they aren't allowed to make money.


RE: Interest - Drakenish - 09.05.2012 02:35

h3lblad3 Wrote:
What reason do I, or anyone else, have to give you money in a loan without any return? If I did that to multiple people, some of them would lose that money, and then I'm out some money. Or I can make it out off the others so I'm not losing. I can only lose so much before I'm out.

I wouldn't buy materials to make a sandwich for $1.00 and then charge only $1.00 for the finished product. It's the same concept. A business exists for profit. Yes, even businesses that give loans.

Do I think some interest rates are ridiculous? Yes. But not letting them gain anything for the risk they're taking is ridiculous, too. It's like telling a business they aren't allowed to make money.


Are you blind( I dont think you understand what money is)? I mean really..When I sell a sandwich for $1.10(spend $1 for the materials) Im not creating any new currency..Someone just had $1.10 in their pocket......

Oh and if the person cant pay back their loan then their assets are taken.

And of course you would the lender be losing money (due to overhead etc) thus the government would be in charge.


RE: Interest - h3lblad3 - 09.05.2012 06:04

Maybe I'm not quite understanding you.
I think that's it.

I'm just sayin', I never said money was being taken out of nowhere.
I was just talking about taking someone else's money.

Also, for us Americans at least (I don't know about other countries), debt is how money is made. So yeah... Woo inflation!


RE: Interest - Helsworth - 09.05.2012 08:52

All money is debt. I invite you to this thread. http://forum.ars-regendi.com/to-understand-economics-you-must-understand-monetary-sovereignty-t-18799.html


RE: Interest - Usu - 09.05.2012 20:06

Trade with money is fraud, but trade without money is fraud, too. So what?


RE: Interest - h3lblad3 - 09.05.2012 21:32

Like I've said, I'm not intellectual.

But I'm perfectly willing to study. Tongue