Most Americans have never heard of , usury . Do you know what it stands for ?

Question

Usury , is rich people taking advantage of poor people by lending them money on terms that are sure to make them fail .

Aren't we having usury in America today ?

The three religions , Judaism , Christianity and Islam had a moral prohibtion against usury because they recognized that society can't function like that .

Why has it taken the Fed so long to put an end to predatory practices by the banks ?

Answer 1

In fact Judaism has no rules regarding usury.  When the catholic church declared it a sin in the middle ages, the only moneylenders left were Jewish.  If you read Shakespeare's Merchant of Venice you will find where the term Shylock (as a slang term for moneylender) came from.

It's why most of today's banks are owned by Jews, and they are the ones in America committing usury .

Answer 2

Ginger, thanks for an excellent observation and question.  In this cesspool of misinformed, muddled thinking called YA!  you are a breath of fresh air.

I've heard usury defined more loosely, as simply lending of money for interest. . .. but your moral slant is legitimate.  And by that definition, yep - this is usury all right.  I'm amazed the banks have gotten away with this nonsense for so long.  I remember my CC interest rate going from 8% to 19% overnight for no apparent reason - or any I could decifer in the small print anyway - and that was over 10 years ago.

Seems it has taken a crashing economy to finally force the legislature's hand to deal with the out of control lenders.  Sad.

Answer 3

Would you like to become the next Cuba?? ¿no?...Well..If you people start asking for "this" kind of self-protection , be sure: you will end as the foomen of the Castro´s.

Answer 4

mortgage rates are around 6.5 percent. that is not considered usury.