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Immoral Interest Rates EuroNews Advert
Friday, October 5, 2012 1:10
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What is USURY ?
“Usury is the practice of making loans with excessive or abusive interest rates.” Wikipedia.
Condemned throughout history by so many religious and moral codes as the cause of evil, usury is alive and breeding like bacteria today in our slick modern but unethical world.
Marcus Porcius Cato in his “De Re Rustica” wrote:
”And what do you think of usury?” — “What do you think of murder?”
I am personally aware of several suicides that have resulted as a direct outcome of people feeling totally trapped by financial circumstances. Money lenders charging immoral levels of interest could be said to contribute to peoples misfortunes and even in some cases to their deaths.
So what has brought on this rant – you might ask? I was watching a news item on Euronews about how Greece is leading Europe in having set up an instant alert and rescue system to deal with missing children. Well done Greece I’m impressed.
The news item was followed by the usual advert break. I was horrified and sickened by one of the adverts which was selling loans at the incredulous interest rate of no less than 49.90% APR.
In my innocence, or if you like, ignorance, I had simply thought that this sort of money lending was outlawed by civilized countries.
In many desperate cases, lenders with their 50% interest rates might as well put heavy chains around a victims neck and toss them into the sea. I am truly outraged. No credit to EuroNews either for carrying this sort of advert.
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2012-10-05 01:00:22
Source: http://wood-pellet-ireland.blogspot.com/2012/10/immoral-interest-rates-euronews-advert.html
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