@bronzeagemantis Wow you really are Jewish

@bronzeagemantis Yes. Here's a thread on the difference between usury and other types of loans. https://x.com/FamedCelebrity/s...

@bronzeagemantis The interest rate exists by nature because human beings prefer present goods to future goods. Moreover, there is speculation and risk involved in allocating resources to capital projects instead of consuming them in the here and now. In order to engage in those projects, the

@bronzeagemantis Oh my God he really is Jewish

@bronzeagemantis LOL

@bronzeagemantis Loans to start a business and perhaps buy a house are investment and not usurious since the bank is essentially a partner. Credit cards and loans for consumption items should be banned for usury, since their purpose is to extract from idiot consumers, not partnership.

@bronzeagemantis Or we could just make fun of you being a jew.

@bronzeagemantis Usury - extortionate high interest loans targeted at low iq people or the youff.

@bronzeagemantis Offering credit cards below a certain level of understanding is like throwing lit firecrackers for a dog. It's wrong because the dog doesn't know any better. Not sure how this can be put into practice. What is to be done with marginal people.

@bronzeagemantis That’s easy. Any interest rate over 10% is usury. The interest compounds too quickly and is specifically predatory. It’s forever debt and creates no real value. Anyone willing to defend this doesn’t understand, or thinks of themselves as a wannabe slave owner. You’re welcome.

@bronzeagemantis 30% interest rates should be illegal. Banks claim they have no choice, as credit card lending to some people is just incredibly risky and they need to recoup their losses. Then those people shouldn't have credit. Do that instead of penalizing people who do pay their bills.

@bronzeagemantis Non defaultable student loans should be illegal for one

@bronzeagemantis Erm I don’t know anything

@bronzeagemantis "No, thanks. Going to watch anime instead."

@bronzeagemantis Usury is exploitative, distinct from the sound and ethical business practice of loaning at interest. Duke Power precludes the correct solution, which is to heavily restrict financing instruments for people with lower IQ scores.

@bronzeagemantis Switzerland sets a maximum interest rate of 10% above the SARON 3 month rate. Credit is too available to the bottom quintile. They take on high interest rates and seemingly don’t have the capacity to understand what they’re doing.

@bronzeagemantis

@bronzeagemantis It's a general term for malicious use of debt/interest.

@bronzeagemantis i think this may be the most jewish thing you have ever said

@bronzeagemantis Itshistorically been interest rates from 13%-20% much like credit cards. Against your enemies/foes usary was a tool to weaken them

@bronzeagemantis Can we skip to the part where you say this is just Schopenhauer?

@bronzeagemantis Actually I would say it started in 1971 when we went off the gold standard. Since 1971 all dollars have been loaned in to existence. That extension of credit is helpful when it’s aiding smart productive investment, but it can also act like a cancer on the economy.

@bronzeagemantis Not allowing student loans to be discharged in bankruptcy is a form of usury. They had to change the whole banking and loan system to enforce this and make student loans predatory.

@bronzeagemantis Aristotle defines it as making money from money instead of from increased production. Of course, increasing production requires investment in capital…

@bronzeagemantis You don't know what usury means?

@bronzeagemantis I don’t understand the problem with charging percent interest on a capital loan. The risk on a loan is greater than the principal itself. If the borrower doesn’t repay the $100, the lender didn’t just lose $100, he also lost all the future gains of that $100.

@bronzeagemantis I don’t think “buy now pay later” companies like Klarna should be allowed to exist. They are inherently usurious in nature. Relatedly, I also think credit in general should be harder to obtain. People being levered on so much debt is what’s created our “everything bubble”.

@bronzeagemantis I like usury, that's my contrarian take of the day.

@bronzeagemantis Eliminating government backed student loans and civil rights forcing banks to make bad loans would go a long way.

@bronzeagemantis I don't think it's inappropriate to use the term, as it provides context on how these exploitative practices were viewed historically. But you are right to ask for precision. Compound interest is usury and should be banned.

@bronzeagemantis The Abrahamic chokehold is real, it is especially real in law, economic relations, mortgages and other spells. You can’t look at a problem such as student loans or hospital bills or housing prices or national debt in the us and across the board without recognizing the energetic

@bronzeagemantis Usury requires the inability of the debtor to discharge in bankruptcy. I.e., the lender takes no risk. Student loans are the only type of loans I'm aware of that can't be discharged.

@bronzeagemantis Usury is when we make a trade and you change the value. Compounding interest is the worst form of this. Normal interest at a high rate is also usury. Buying a 250k house and paying 500k for it over time is essentially theft. Attach a loan convenience fee and stop using interest

@bronzeagemantis My only issue is shouldn't give loans unlikely to be repaid. Effort to make loans available to more people (student loans for ALL students and "equity" laws favoring populations) are predatory/can lead to failure cascade. Otherwise credit is powerful tool for wealth building.

@bronzeagemantis

@bronzeagemantis total financial illiteracy. peasants