Usury Quotes
Summarizing his conclusions of the Judiciary Committee investigations regarding Wall Street and the bankers' role in the Great Depression:
There were little controls over usury in his time in India. Villagers often paid 500% or more to borrow money in a necessity like needing critical health care.
the prophet was hostile to all forms of monopoly which in his time for almost always granted through political corruption and favoritism. Before Christians even considered the issue, Islam considered monopolies anti-consumer and contrary to the interests of the Muslim society.
He was against paper money. At the time, any bank could issue its own paper money or “banknotes”. However other banks would not redeem the banknotes for the full amount; they would “discount” the note. Usually, the further away the bank was from the original bank, the more discount they took. Interstate commerce was almost impossible. Alexander Hamilton, Jefferson’s nemesis, had a much more modern point of view and fortunately his view prevailed. Paper money could only work if it was issued by a central bank with no discounting by other banks. The paper money had to be “legal tender”.
Interest is forbidden in all transaction, both business and personal.
Usury in orthodox Muslim terms means the charging of interest. Modern Islamic societies have developed a variety of methodologies for dealing with the usury prohibition yet functioning in a modern capitalist system. Orthodox Jews also have a Biblical prohibition against loans with interest. Fundamentalist Protestants of some sects also believe that loaning or borrowing money and charging interest is a sin prohibited by God.
Interest is forbidden in all transaction, both business and personal.
Ford was a notorious anti-Semite. He was also an enthusiastic supporter of Hitler and the German Nazi’s. He considered a run for the Presidency and published a highly political company newspaper, and thus was much more of a public figure than most industrialists. Later, he issued an apology and claimed that he never really was anti-Semitic. See {586941}.
Those who devour interest will not stand except as stands one whom Satan has driven mad by his touch
Interest is forbidden in all transaction, both business and personal.
