SECOND COUNCIL OF LYONS

Essentially, the Council voted to close all the banks of the day and get rid of all the bankers. Without banking economic development of Christian (Catholic) Europe stagnated and did not thrive until the Borgia’s used their banking prowess to actually attain the Papacy. Ironically, Christians, Jews and Muslims all had banned banking—usury—the charging of interest for borrowed money—as a serious sin. To this day there are orthodox fundamentalists of all three religions who decry modern banking, but the majority of Christians and Jews no longer have any problem with banking, and while the Muslims generally still decry it as a sin, the wealthy Muslims have come up with various fig leaves where they pretend that banking us not usury, and in the modern world, although they are castigated by a mullah or two, the essence of capitalism goes on even in Muslim countries.

Essentially, the Council voted to close all the banks of the day and get rid of all the bankers. Without banking economic development of Christian (Catholic) Europe stagnated and did not thrive until the Borgia’s used their banking prowess to actually attain the Papacy. Ironically, Christians, Jews and Muslims all had banned banking—usury—the charging of interest for borrowed money—as a serious sin. To this day there are orthodox fundamentalists of all three religions who decry modern banking, but the majority of Christians and Jews no longer have any problem with banking, and while the Muslims generally still decry it as a sin, the wealthy Muslims have come up with various fig leaves where they pretend that banking us not usury, and in the modern world, although they are castigated by a mullah or two, the essence of capitalism goes on even in Muslim countries.