by Andrew Von Sonn, J.D.
Our current monetary system is about the loaning of "money" into existence; and then loaning it some more.
Once it enters the system, it becomes more individualized. The big players get their share first. As it trickles down, the cost goes up.
Interestingly, both the Bible and the Koran contain prohibitions against usury which they define as any interest at all on the loaning of money or goods.
In our current system, we define it as an interest rate above a certain percentage. Charging 18% to a single mom trying to feed and clothe her children is not usury in the United States.
You borrow $100, you pay back $118. Where's the other $18 gonna come from? Guess?
The original definition of usury prohibited interest on real money or goods. I don't know what they'd say about the loaning of "money" created by a pen, computer, or slick math which has to be paid back with real sweat.
Thomas Jefferson is reported to have said this about giving banks power over our monetary system:
"If the American People ever allow private banks to control the issue of their currency; first by inflation then by deflation, the banks and corporations that will grow up around them will deprive the People of their property until their children will wake up homeless on the continent their fathers conquered."
Our monetary system - lending "money" into existence is usury maximus. It's very hungry and gobbles up everything.
The U.S. Constitution gives Congress power over, and responsibility for, operation of our monetary system. See Article I Section 8.