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This room is for discussion for anyone who adheres to the Extraordinary form of the mass and any issues related to the practices of Eastern Rite Catholicism.

Saint Athanasius is counted as one of the four Great Doctors of the Church.
Learn More:Saint Athanasius

Here you go. He's one of the few people who speaks out against Usury in the modern world.

More emotional than reasoned, but still to hear about it as a sin at all is unusual.

ncronline.org

Feb 2nd 2014 new
Too bad the author went on to equate excessive interest to usury...otherwise, it's interesting that the Holy Father talked about usury.
Feb 2nd 2014 new
(quote) Chelsea-743484 said: Too bad the author went on to equate excessive interest to usury...otherwise, it's interesting that the Holy Father talked about usury.
Getting interest at all with inflating fiat currency generated out of nothing by our banks is usury too. The banks, thanks to fractional reserve, create 90% (it may be more nowadays) of the "money" lent out of nothing but numbers on a computer screen sent to another address.

But you have to give your work and labor to them as if it was something.
Feb 3rd 2014 new
(quote) Chelsea-743484 said: Too bad the author went on to equate excessive interest to usury...otherwise, it's interesting that the Holy Father talked about usury.
According to my dictionary, charging excessive interest is usury. Apparently, the obsolete definition is that of simply paying interest to use money.


dictionary.reference.com

usury

"Dictionary.com" definition:
1. the lending or practice of lending money at an exorbitant interest.
2. an exorbitant amount or rate of interest, especially in excess of the legal rate.
3. Obsolete . interest paid for the use of money.


"World English Dictionary" difinition (at the same URL, at bottom of page):
usury
1. the act or practice of loaning money at an exorbitant rate of interest
2. an exorbitant or unlawfully high amount or rate of interest
3. obsolete moneylending

Ed
Feb 3rd 2014 new
Yessirree. It's so much easier to understand usury if one sticks to the solemn judgment on the matter:

"For this reason they cannot avoid the crime of usury or injustice, that is to say a clearly defined evil, since our Lord, according to Luke the evangelist, has bound us by a clear command that we ought not to expect any addition to the capital sum when we grant a loan.

"For, that is the real meaning of usury: when, from its use, a thing which produces nothing is applied to the acquiring of gain and profit without any work, any expense or any risk." (Fifth Lateran Council)

Feb 3rd 2014 new
(quote) Chelsea-743484 said: Yessirree. It's so much easier to understand usury if one sticks to the solemn judgment on the matter:

"For this reason they cannot avoid the crime of usury or injustice, that is to say a clearly defined evil, since our Lord, according to Luke the evangelist, has bound us by a clear command that we ought not to expect any addition to the capital sum when we grant a loan.

"For, that is the real meaning of usury: when, from its use, a thing which produces nothing is applied to the acquiring of gain and profit without any work, any expense or any risk." (Fifth Lateran Council)

Of course, lending money at interest is hardly "without any....risk" to the lender. It is because of the risk that people with poor credit records have to pay higher interest than those who already have a record of paying their debts.
Feb 3rd 2014 new
(quote) Paul-1049651 said: Of course, lending money at interest is hardly "without any....risk" to the lender. It is because of the risk that people with poor credit records have to pay higher interest than those who already have a record of paying their debts.
I suggest that everyone should read the article; "The Red Herring of Usuary" by David J. Palm.

You can find it here:

www.catholicculture.org/culture/library/view.cfm?recnum=646

The Church's teaching on usuary has not changed. But the nature of money has. Therefore, the Church teaches that money can be lent at interest. Lending money at interest is even supported by the words of our Lord, where in the parable he tells the one servant who only returned to the boss man the single coin he was given to do soemthing with while the boss man went elsewhere. "Why did you not put the coin with the bankers so that I might have earned interest on it?" In the Old Testament loaning money at interest to foreigners was approved.

To summerise the Church's position in the most simple terms: is that usury is wrong but lending money at interest is not usury unless an excessive rate of interest is charged or when the loan is made to a poor man making him even poorer.
Feb 3rd 2014 new
(quote) Paul-866591 said: I suggest that everyone should read the article; "The Red Herring of Usuary" by David J. Palm.

You can find it here:

www.catholicculture.org/culture/library/view.cfm?recnum=646

The Church's teaching on usuary has not changed. But the nature of money has. Therefore, the Church teaches that money can be lent at interest. Lending money at interest is even supported by the words of our Lord, where in the parable he tells the one servant who only returned to the boss man the single coin he was given to do soemthing with while the boss man went elsewhere. "Why did you not put the coin with the bankers so that I might have earned interest on it?" In the Old Testament loaning money at interest to foreigners was approved.

To summerise the Church's position in the most simple terms: is that usury is wrong but lending money at interest is not usury unless an excessive rate of interest is charged or when the loan is made to a poor man making him even poorer.
Thank you for this article. I am still reading it.
Don't we have such an intelligible pope? He is right again.


Feb 3rd 2014 new
So, according to Jesus in the gospel, is it wrong for us to take our money and bury it in our mattress? Wonder if the person doesn't want to put it in the bank, is that a sin?

Must you make interest money your money?
Feb 3rd 2014 new
(quote) Paul-1049651 said: Of course, lending money at interest is hardly "without any....risk" to the lender. It is because of the risk that people with poor credit records have to pay higher interest than those who already have a record of paying their debts.
What's the difference in risk in the day when Our Lord taught to lend money expecting NOTHING thereby and now?
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