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Keywords: Usury

  • ECONOMICS

    Why debt forgiveness may be inevitable

    • David James
    • 25 July 2022
    3 Comments

    Monetary authorities are caught in an impossible situation. Inflation is rising: it is over 5 per cent in Australia and over 9 per cent in the United States. Inflation is often seen as a way out of excessive debt because it erodes the real value of money and therefore the real value of the debt. But what is increasingly being discussed are ways to cancel the debt.

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  • ECONOMICS

    Finance needs common sense, not cleverness

    • David James
    • 10 December 2020
    1 Comment

    The world’s financial markets are afflicted by a deep irrationality that imperils their very existence. On the surface, finance looks logical enough with its numbers, charts, mathematics, forecasts, ‘modelling’ and so on. But this only masks the fact that the system itself has been working on underlying assumptions that are either contradictory — such as that you can ‘deregulate’ finance when finance consists of rules — narrow minded or absurd.

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  • ECONOMICS

    NZ's riposte to modern economic myths

    • David James
    • 02 July 2019
    5 Comments

    While money can be transacted for things that are bad — air pollution, road deaths, cigarette ads — as long as more transactions occur, it creates the illusion the economy is growing, which, ipso facto, is good. Thus, Japan's GDP rose sharply after the tsunami disaster. New Zealand's initiative will track better what is really happening in the country.

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  • ECONOMICS

    The true lesson of capitalism

    • David James
    • 15 January 2019
    2 Comments

    One of the most basic distinctions in finance, with which any stockbroker or fund manager is familiar, is that between equity and debt. As the global economy teeters on the edge of a debt and banking crisis, with global debt more than 300 per cent of global GDP, the merits of equity is something that needs to be better understood.

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  • ECONOMICS

    Compound interest is the root of banks' evil

    • David James
    • 04 December 2018
    7 Comments

    The problem goes much deeper than a few crooked operatives and it will not be fixed by changing the corporate 'culture'. The fundamental evil is the arithmetic of compound interest. Interest on debt rises exponentially, while economic activity is linear. That means that sooner or later those in a weaker position are unable to pay.

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  • ECONOMICS

    In the end, debts cannot be paid

    • David James
    • 08 November 2017
    3 Comments

    Once upon a time, usury was considered a sin and lending was subject to strict controls. Now, the world is in the grip of usury. It cannot continue. At some point it will have to be retired, or swapped to equity. A good place to start is third world debt, which is the most immoral variant.

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  • ECONOMICS

    Where is money headed?

    • David James
    • 30 July 2017
    2 Comments

    The daily fluctuations of financial markets and the fractious debates over economic policy are concealing something deeper and much more disturbing. The future of money itself is in question. A decade after world banking almost collapsed in the global financial crisis, the questions raised have not been answered.

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  • RELIGION

    Becoming a church for mission 2030

    • Frank Brennan
    • 17 May 2017

    As the Church of 2030, we need to be more attentive to the contemplation of believers and our experience of spiritual realities, as well as the preaching of the church. Pope Francis has no time whatever for the notion of the Church as a perfect society. But, there is no way that Francis wants to abandon the ideals and the commitment to truth and justice so well exemplified by his predecessors John Paul II and Benedict.

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  • ECONOMICS

    Serfs sucked dry in the kingdom of banks

    • David James
    • 18 April 2016
    11 Comments

    Three finance-related events are currently gaining great attention in the media. One is the so-called Panama Papers. Another is the proposal to have a royal commission into the banks. And a third is the furore over the unaffordability of homes and the debate over negative gearing. On the surface they would seem to be quite separate issues. But all three issues demonstrate yet again that banks are, if not the most malign organisations on the planet, then certainly among the most dangerous.

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  • Frank Brennan, Ambassador from the Republic of Conscience

    • Kristina Keneally
    • 04 June 2015
    12 Comments

    'As a legislator and a Catholic, I often felt gratitude for Frank Brennan's ambassadorship from the republic of conscience. I found the need to weave, this need to take 'data points' from many places and form my conscience. I regarded Frank as a bit of a hero.' Kristina Keneally launches Fr Frank Brennan SJ's book Amplifying That Still, Small Voice at Our Lady of the Way Parish, North Sydney, 2 June 2015.

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  • MEDIA

    Exploiting consumers needs to be illegal

    • Michael Mullins
    • 10 February 2014
    7 Comments

    The ANZ Bank faces a huge payout after a class action by its customers secured a partial but significant victory against the bank's unfair and illegal credit card late payment fees. This is happening because we have laws to protect consumers. The Federal Government is well advanced in its efforts to wind back existing and planned laws that protect consumers, as they are considered red tape that places an unnecessary burden on business.

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  • ECONOMICS

    How financial devils came to rule the universe

    • David James
    • 05 June 2013
    7 Comments

    Religious authorities may not spend a lot of time pondering the nature of global financial systems, but the Pope's recent comment that 'money has to serve, not rule' suggests it can be useful when they do. Given scope to become rule makers, rather than just people who know how to exploit the rules, financiers have moved themselves to a position of mastery.

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