Debt – A ‘modern’ form of slavery.

Almost all of us are in debt. This no-punches-pulled video explains the origins of this modern form of slavery. 

Usury – the lending of money at interest – has always been condemned in traditional Christian teaching. That it is no longer so in the West is just another sign of the liberal decay afflicting the Church and society in general.

Pope Benedict XIV:

The nature of the sin called usury has its proper place and origin in a loan contract [in contractu mutui]. This financial contract between consenting parties demands, by its very nature, that one return to another only as much as he has received. The sin rests on the fact that sometimes the creditor desires more than he has given. Therefore he contends some gain is owned him beyond that which he loaned, but any gain which exceeds the amount he gave is illicit and usurious.

One cannot condone the sin of usury by arguing that the gain is not great or excessive, but rather moderate or small; neither can it be condoned by arguing that the borrower is rich; nor even by arguing that the money borrowed is not left idle, but is spent usefully, either to increase one’s fortune…or to engage in business transactions. The law governing loans consists necessarily in the equality of what is given and returned; once the equality has been established, whoever demands more than that violates the terms of the loan….

By these remarks, however, We do not deny that at times together with the loan contract certain other titles – which are not at all intrinsic to the contract – may run parallel with it. From these other titles, entirely just and legitimate reasons arise to demand something over and above the amount due on the contract.

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