So even if you disagree with me about the nature of currency, our different views on currency do not have any effect on the condemnation of usurious loans denominated in those currencies
No. Usury and the creation of faux-wealth through usurious contracts is a pervasive problem in modern economies, and the nature of currency has not changed. However, even if we postulate that the nature of currency guaranteed installment loans for bad credit West Virginia has changed, that does not alter the prohibition of usurious lending, properly understood.
It turns out that the kind of currency used is irrelevant to the issue of usury (Question 35), so various opinions about fiat currency, so-called “hard” currency, and other trading tokens or fungible commodities are entirely distinct from the subject of usury per se.
We exhort you not to listen to those who say that today the issue of usury is present in name only, since gain is almost always obtained from money given to another. How false is this opinion and how far removed from the truth! We can easily understand this if we consider that the nature of one contract differs from the nature of another. – Vix Pervenit
No. A sovereign guarantee is not the same thing as a personal guarantee. Two of the most important are that the sovereign is not a person but, qua sovereign, is an institution; and the sovereign has the power to issue currency. The sovereign may pay “interest” with tax receipts, but it is no part of the contract that he must do so; so even the notion that government debt intrinsically requires full recourse to taxpayers is wrong.Continue reading