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“Who does not put out his money at interest and does not take a bribe against the innocent. He who does these things shall never be moved.” Psalm 15:5
“You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest.” Deuteronomy 23:19-20
“If your brother becomes poor and cannot maintain himself with you, you shall support him as though he were a stranger and a sojourner, and he shall live with you. Take no interest from him or profit, but fear your God, that your brother may live beside you. You shall not lend him your money at interest, nor give him your food for profit.” Leviticus 25:35-37
“they say: "Trade is like usury," but Allah(God) hath permitted trade and forbidden usury.” The Qur'an Sura 2:275
"Those that live in usury shall rise up before God like men whom Satan has demented by his touch; for they claim that trading is no different from usury." The Cow 2:275] (alternate translation of the above)
"Let those who hoard the wealth which God has bestowed on them out of His bounty never think it good for them: it is nothing but evil." The Imrans 3:181
"There must be no lending at interest because it will be quite in order for the borrower to refuse absolutely to return both interest and principal."
"Money must not be deposited with anybody whom one does not trust."
"The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve"
" . . . [T]hose who follow illiberal occupations, like . . . moneylenders who make small loans at a high rate of interest; for all these receive more than is right, and not from the right source. Their common characteristic is obviously their sordid avarice . . . "
Originally posted by yourboycal2
If no interest then tell me good sir ...
what is the interest of a person lending you money ? if he makes nothing back from it ?
charity ? good will?
I belive interest should be applicable for gradification of giving a loan . But the rates much much much lower then what we see today.
edit on 28-11-2011 by yourboycal2 because: (no reason given)
Originally posted by sligtlyskeptical
Because of inflation, you need to earn interest or else when you get paid back your purchasing power will have decreased. What's the point in lending for a negative return? Eliminate inflation and you can eliminate much of the interest.
The real problem is that money is created with interest already attached.