Usury, that is taking or paying interest at any rate for any amount of money at any duration is strictly forbidden in Catholic teaching. There are many who attempt to contradict this fact, but they fail to do so. That 99% of Catholics violate the teaching merely highlights being Catholic is voluntary, as all human institutions need be.
In 2009 Pope Benedict reiterated the condemnation, and suggested some areas in which study might advance a usury-free economy:
https://zip.kiva.org/
https://www.communitysourcedcapital.com/
And what is needed is a USA WIR, for people to get oout of the dollar and have a free economy within the hegemon's territory.
Micro-credit that is usury-based is to be cndemned, for it just replaces what was once usury free micro loans with usury-based microloans, introducing injustice where there was none before.
Feel free to forward this by email to three of your friends.
In 2009 Pope Benedict reiterated the condemnation, and suggested some areas in which study might advance a usury-free economy:
Furthermore, the experience of micro-finance, which has its roots in the thinking and activity of the civil humanists — I am thinking especially of the birth of pawnbroking — should be strengthened and fine-tuned. This is all the more necessary in these days when financial difficulties can become severe for many of the more vulnerable sectors of the population, who should be protected from the risk of usury and from despair. The weakest members of society should be helped to defend themselves against usury, just as poor peoples should be helped to derive real benefit from micro-credit, in order to discourage the exploitation that is possible in these two areas. Since rich countries are also experiencing new forms of poverty, micro-finance can give practical assistance by launching new initiatives and opening up new sectors for the benefit of the weaker elements in society, even at a time of general economic downturn.Yes, the protection is in the provision of alternatives. When the state outlaws, or makes the provision thereof onerous, of alternatives to usury, then there is a problem. The solutions are emerging...
https://zip.kiva.org/
https://www.communitysourcedcapital.com/
And what is needed is a USA WIR, for people to get oout of the dollar and have a free economy within the hegemon's territory.
Micro-credit that is usury-based is to be cndemned, for it just replaces what was once usury free micro loans with usury-based microloans, introducing injustice where there was none before.
Feel free to forward this by email to three of your friends.
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