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Is Usury A Good Thing

Is usury or increase as spoken of in the Bible, good or bad?

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 ---Mima on 1/21/08
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frances008:

Yes. On several occasions, I've had situations when I had $20 in the bank, and a $22 internet fee came through, so the bank charged me $39 additional for going over my limit. (so I basically got charged 3x the monthly fee because I was short $2).

It's a big racket.
---StrongAxe on 3/4/08


I heard that a lot of Jews became Christian because they thought it would permit them to set up banks that had usury as their main income. I am particularly against banks that charge monthly fees to those whose balance falls below a certain level. This is actually robbing the poor to give to the rich.
---frances008 on 3/4/08


The parable of the talents is not about a bank. Try to double your money in a bank in the short time frame mentioned. It was invested, buying and selling. Still the best way to make a profit. Usuary is abusive and cruel, it is practiced today by banks in loans and credit cards. Interest from banks does not even keep up with inflation.
---dan on 3/4/08


Ginette:

Still, in the parable, Jesus recommends a bank - something he probably wouldn't have done if he found the practice of banking (making a profit by lending money out for more than you pay out) was morally objectionable.
---StrongAxe on 3/4/08


Strong Axe: When you get interest on your money through a bank it's a lot less than what the bank charges for their loans.
I agree with others that banks, especially through their credit cards, charge excessive interest. Now they also charge excessive high fees if you're even 1 day late paying. I think this policy by banks is not too bright since many are reneging on their credit cards and loans.
---Ginette on 3/2/08




A note on credit cards: Many people frown on the use of them and judge others who use them. Well, I happen to know that many working class people need to use their credit cards to finance things like getting their cars fixed, getting a warm coat, buying warm clothing, etc. My mother was very frugal with her cards and once in awhile she'd buy a frivolous item but most of the time she used her card for necessities.
---Ginette on 3/2/08


Usury>>>Sum of money charged for a loan. OT laws prohibited a Jew from charging another Jew usury but permitted it when money was loaned to a Gentile. Although the world has negative connotation today, it was not so in Biblical days when usury simply was the interest charged for a loan. However, excessive usury was condemned. >>>Chargeing high interest today is the norm and is a SIN.
---catherine on 2/21/08


It's curious that in the Parable of the Talents, the master chastizes the foolish servant because he kept his talent under his bed, rather than giving it to a bank where it would EARN INTEREST.

So Jesus seemed to indicate that it wasn't a problem.
---StrongAxe on 1/24/08


Mima ... Darlene has said it so much better than I did
---alan_of_UK on 1/23/08


Just a point,usuary is not merely getting interest on money,it is charging a huge amount on every loan which is usually higher than prevailing interest rates. I know,we owned a Pawn Shop in the 1960's and I worked in it making loans. We charged the rate which was being used in other shops and allowed by law but it still was high to people who were desperate enough to pawn anything of value. That's whats wrong with usuary and also why it's different from making money by investment.
---Darlene_1 on 1/23/08




I'm not sure, but in my heart it doesn't feel right. Thank you.
---melinda on 1/22/08


OT, De 23:20 Unto a stranger thou mayest lend upon usuary,but unto thy brother thou shalt not lend upon usuary,that the Lord thy God mayest bless thee in all thou settest thy hand to in the land whither thou goest to possess it. NT, Luke 6,30 & 35 Give to every man who ask of thee,and of him that taketh away thy goods,ask not again. -love your enemies,and do good,and lend,hoping for nothing again, Usuary allowed in OT but not in NT.
---Darlene_1 on 1/22/08


In the parable of the talents 2 of the men were praised for increasing the amount entrusted to them but the third man, who buried his money, was reprimanded. That must be stating that gaining interest was a good thing then, and most of us, I'm sure, think it's a good thing now.
---RitaH on 1/22/08


Mima ... You are right of course, but there is a huge differenc ebetween usury and the gaining of increase by your own hard work.
Mind you, I do not regard lending money to people that need it as being wrong
---alan_of_UK on 1/22/08


Mima ... You are right of course, but there is a huge differenc ebetween usury and the gaining of increase by your own hard work.
Mind you, I do not regard lending money to people that need it as being wrong
---alan_of_UK on 1/22/08


--alan_of_UK -surely you would agree that usury(interest on your money) is a form of increasing your money. Do you agree?
---Mima on 1/22/08


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It is my observation that usury is like interest or a charge for using. This can be looked at as an increase. The Israelites were told not to do charge usery to eachother. On the other hand when Jesus gave the talents to the three people he expected the guy with the one talent to at least have given it to the bank so he could have received some usery. Usery is allowed unless you are under the law and an Israelite. God promises to supply increase when we use what he gives us.
---john on 1/22/08


Surely they are by no means the same thing?
---alan_of_UK on 1/21/08


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