Sven Longshanks presents a solo podcast that goes back to basics to explain why usury goes against the natural order and cannot be allowed in a Nationalist society. If you lend somebody a coat, you do not expect them to return a pair of trousers along with the coat when they hand it back and neither should the banks when they loan money. This is not to say that if you loan money for investment it should not make a profit, but that profit should be a shared profit from the venture along with a shared risk of loss.
Today we have a fiat banking system, which means it is our word that has the power to create money, but instead of zeroing the account once we have paid back what we created, the banks require interest on top. They have given nothing of their own in value, all they have done is publish or monetise the promise we make, to pay the amount back. Because the bank requires interest but has only provided principal, it then becomes necessary for someone else to take a loan out for there to be enough in circulation to pay back that interest. This means we have to have an infinite amount of debt just to pay the interest, which is guaranteed to crash the economy and allow the banks to purchase everything at low prices. If we removed usury from the system, a national bank would be paying us dividends instead of us paying taxes.
Presented by Sven Longshanks
The Daily Nationalist: Against Usury – DN 041018
Download (30:02)
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