By charging additional money on a loan, you create a debt that runs in excess of the amount of money that exists to pay the debt off.
This ball of debt then just grows forever, it gets passed around from one person to another, spread our among multiple individuals, and other techniques that exist to make keeping track of it hard.
Eventually the debt consumed the whole society and the vultures of international banking descend to devour the carrion of what was once a living thriving economy.
That's why I keep saying that the only acceptable interest rate is zero.
AntiPostmodernist 0 points 9 months ago
Interest is a cancer.
By charging additional money on a loan, you create a debt that runs in excess of the amount of money that exists to pay the debt off.
This ball of debt then just grows forever, it gets passed around from one person to another, spread our among multiple individuals, and other techniques that exist to make keeping track of it hard.
Eventually the debt consumed the whole society and the vultures of international banking descend to devour the carrion of what was once a living thriving economy.
That's why I keep saying that the only acceptable interest rate is zero.