Quote from: Bastet on June 26, 2011, 12:51:35 PM

Quote from: relative on June 26, 2011, 12:28:01 PM

Quote from: Bastet on June 26, 2011, 12:19:55 PM

Quote from: Alex Beckenham on June 26, 2011, 10:57:47 AM

Is it evil to rent a house?
Is it evil to rent a car?
...
Is it evil to rent a sum of money?

Is it evil to rent a sum of money? In my opinion, absolutely! Because interest to be paid on your loan, in simplistic terms, doesn't exist. You must pay back the original principal + interest. The interest portion doesn't exist and cannot be created out of thin air.

so profit doesn't exist either, eh?

jeez...a bunch of economic illiterates trying to run a currency.

work for a car company. take out a loan from them to buy a car from them. earn part of their profits for your work in the future and pay back the loan with interest

everything "existed" and nothing is created out of thin air. as simple as this is, the real world works the same there are just more intermediary steps.

if bitcoin will ever be widely accepted, there automatically will banking, there will even be fractional reserve banking, there will be interest.

Never said profit doesn't exist. Profit is just an increase in value. You can create profit by adding value to something either by effort, time, resources or demand.

Lending money for money creates nothing of value. Money is simply a medium of exchange. Adding interest to money is a sure way for someone to get it all in the end, much like we'll have soon in the reality of this world. Explain to me how can every country be in debt? The only way for someone to get out of debt is to put someone else in even more debt. The game is rigged and we are all losers when interest comes in play. Interest is an insatiable monster that will eventually swallow everything, including the lender.

Lending money is also a great way to create slaves...Usury, was once punishable by death. That's when they use to understand what it caused. Now, most don't give a f*ck as long as they make something for nothing, much like the speculators. Good luck with that.

put aside your ideology and try to think for a moment.

you didnt say profit doesnt exist, but you imply that by saying the interest portion of a loan doesnt exist.
profit requires running a business, running a business requires capital, like machines. the guy who provides machines ( = the money to buy them) doesnt like to take that risk for free. his compensation is interest and is payed from the business' profit.

nothing is out of thin air, and nothing of this is evil.

Quote

The only way for someone to get out of debt is to put someone else in even more debt.

nonsense.