moonbat1775

Banks Not Lending Anymore? Simply Untrue

" the more I think about it the more the Biblical practice of debt Jubilee makes sense." Smarty

While working on that equity backed money and banking model, I was reminded of several Biblical parallels including zero percent loans between fellow Israelites. However, foreigners could be charged interest. Thus loans to companies wholly owned by a bank's money backing could be considered a "fellow Israelite". The zero interest rate in those cases make perfect sense since the money backing is in effect lending to itself.