Usury - Mathmatical Fraud Explained

Summary

In this conversation, the speaker critiques the financial system that relies on interest, arguing that it creates an unsustainable cycle where debt cannot be fully repaid. Drawing on religious teachings from Christianity, Islam, and Judaism, the speaker condemns usury as exploitative. Using metaphors like Ponzi schemes and musical chairs, they explain how the system inevitably leads to victims. The speaker proposes an alternative: a monetary system without interest, where money is given freely, allowing everyone the chance to succeed and ensuring a fair, sustainable economy for all.

Takeaways

• 😀 The current financial system is based on a mathematical flaw, where interest-based loans create more debt than money available, making it impossible for everyone to repay their loans.
• 😀 Interest is seen as a form of 'mathematical fraud' because not all borrowers can pay back their debts when the money in the system is insufficient.
• 😀 The concept of usury or interest is forbidden in multiple religions, including Judaism, Christianity, and Islam, as it leads to unjust financial exploitation.
• 😀 The speaker compares the interest-based financial system to a Ponzi scheme, where some people succeed, but most are doomed to failure because the system is unsustainable.
• 😀 Interest creates a vicious cycle where money must be borrowed to pay back existing debts, but this system leads to a shortage of money, perpetuating poverty and inequality.
• 😀 The 'musical chairs' analogy is used to describe the current monetary system: there are always fewer 'seats' (money) than 'players' (borrowers), resulting in inevitable losers.
• 😀 The speaker argues that no matter how good someone's business plan is or how hard they work, they cannot overcome the inherent flaws in a system based on interest and debt.
• 😀 The speaker advocates for a monetary system that does not rely on interest, where money is given away or loaned interest-free, allowing everyone to succeed without creating victims.
• 😀 According to the speaker, every dollar in the economy is created as debt, with interest, making the entire money supply inherently flawed and unsustainable.
• 😀 The goal is to create a more equitable financial system where all individuals have access to enough money to repay their debts, eliminating systemic victimization and financial inequality.

Q & A

What is the main issue the speaker has with the current monetary and lending system?

The speaker argues that the current monetary system, particularly interest-based loans, is mathematically flawed and unsustainable. They believe it creates a cycle of debt where some people can never fully repay their loans because the total amount owed exceeds the money in circulation, leading to unfair financial outcomes.

How does the speaker explain the concept of interest as a 'mathematical fraud'?

The speaker explains that when loans are given with interest, the total debt exceeds the amount of money available in society. For example, if $10 people each owe $100,000 with 1% interest, the total debt is more than the $1,000,000 available, making it impossible for everyone to pay back their loans.

Why does the speaker reference religious texts like the Bible, Quran, and Torah in their argument?

The speaker references religious texts to support their argument against charging interest, or usury, which is condemned in many religious teachings. They believe that interest is morally wrong and exploitative, drawing from religious principles that prohibit such practices.

What does the speaker mean by 'usury' and how does it relate to interest?

Usury refers to the practice of charging excessive or unjust interest on loans, which is forbidden in several religious traditions. The speaker uses the term to describe the harmful effects of interest-based lending, which they believe leads to financial exploitation and inequality.

What is the analogy of the Ponzi scheme used to illustrate the issue with interest-based lending?

The speaker compares the interest-based lending system to a Ponzi scheme, where some people may receive payouts, but the system ultimately collapses because there aren't enough new participants (or money) to sustain it. In both cases, the system is inherently flawed, and not everyone benefits.

How does the speaker propose to fix the financial system?

The speaker suggests eliminating interest in lending and instead providing loans without interest. This would create a more equitable system where everyone could pay back their loans, thus avoiding the cycle of debt and financial exploitation.

What does the speaker mean by 'musical chairs' in the context of the financial system?

The 'musical chairs' analogy is used to illustrate how the current financial system works—there are more people seeking money (or 'chairs') than there are resources (or 'seats'). This results in some people being left out or unable to repay their debts, creating inequality and financial instability.

Why does the speaker believe that people cannot 'create money' through business or loans?

The speaker argues that money must already exist in the system in order to repay debts. While individuals can create value or wealth through business, they cannot create the money itself. Without enough money in the economy, it's mathematically impossible for everyone to repay their debts, no matter how successful their businesses are.

What does the speaker suggest as an alternative to the current lending system?

The speaker advocates for a system where money is loaned out without interest, ensuring that the total amount owed does not exceed the amount available in society. This would allow everyone to repay their debts and prevent the creation of financial victims.

How does the speaker view the current financial system in relation to 'God' or moral principles?

The speaker believes that the current financial system, particularly the charging of interest, is morally wrong and goes against divine principles. They suggest that the practice of charging interest is akin to theft, as it leads to unjust outcomes and financial enslavement, violating spiritual and moral teachings.