Comments on: Nota Bene #45 http://www.scholarsandrogues.com/2008/10/20/nota-bene-scholars-roguess-world-famous-hot-links-7/ Think. It ain't illegal yet... Fri, 10 Feb 2012 05:13:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jeff http://www.scholarsandrogues.com/2008/10/20/nota-bene-scholars-roguess-world-famous-hot-links-7/comment-page-1/#comment-54742 jeff Tue, 21 Oct 2008 19:34:46 +0000 http://www.scholarsandrogues.com/?p=4796#comment-54742 Usury laws tend to make the flow of money go out of those areas and to areas where interest rates are higher and investors can get a better rate of return. I lived in a state in the 70's that had a usury law. As the prevailing national interest rates were higher, there was no local credit to be found, unless one paid a lot of points to make up the difference to get the loan. As far as those excessively high rates on some plastic, there is a lot of risk attached to those loans, and risk=higher rates. Jeff Usury laws tend to make the flow of money go out of those areas and to areas where interest rates are higher and investors can get a better rate of return. I lived in a state in the 70′s that had a usury law. As the prevailing national interest rates were higher, there was no local credit to be found, unless one paid a lot of points to make up the difference to get the loan. As far as those excessively high rates on some plastic, there is a lot of risk attached to those loans, and risk=higher rates.

Jeff

]]> By: Ingrid http://www.scholarsandrogues.com/2008/10/20/nota-bene-scholars-roguess-world-famous-hot-links-7/comment-page-1/#comment-54621 Ingrid Mon, 20 Oct 2008 18:22:32 +0000 http://www.scholarsandrogues.com/?p=4796#comment-54621 Russell, re. business usury..In Islam, it is actually not allowed. Banks are also not allowed to have interest on money owed. If memory serves me correctly, I'm sure there is a way around it (as with fasting during Ramadan [g]) but in essence, it ought to be interesting to do a comparison between Protestantism based capitalism and Islamic banking/business practices. As much as in the Western world there are many democracies, the ordinary person in essence has become subservient to the corporations such as here in the US. Corporations are considered legally a 'person' (how do they do it, perhaps when I commit an illegal act I can somehow convince 'the law' I'm an 'it' and therefore not responsible).. anyhow... socialism, or social equality is considered some kind of commie notion whereas subsidized malls/development is not considered a hand out of sorts. Perhaps that might be an apropos article in the light of our big banking fiasco? A comparison? just a thought, Ingrid Russell, re. business usury..In Islam, it is actually not allowed. Banks are also not allowed to have interest on money owed. If memory serves me correctly, I’m sure there is a way around it (as with fasting during Ramadan [g]) but in essence, it ought to be interesting to do a comparison between Protestantism based capitalism and Islamic banking/business practices. As much as in the Western world there are many democracies, the ordinary person in essence has become subservient to the corporations such as here in the US. Corporations are considered legally a ‘person’ (how do they do it, perhaps when I commit an illegal act I can somehow convince ‘the law’ I’m an ‘it’ and therefore not responsible)..
anyhow… socialism, or social equality is considered some kind of commie notion whereas subsidized malls/development is not considered a hand out of sorts.
Perhaps that might be an apropos article in the light of our big banking fiasco? A comparison?
just a thought,

Ingrid

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