EconomicWar- Flashback 1215: Usury Forbidden by Magna Carta until 1694 when Private Bank of England Chartered by King of crooks…..

Natural Increase

When you plant one grain of corn, it will yield an increase of several hundred grains – this is God's gift of increase. Animals also produce increase, but money, in any form, cannot increase, yet people believe it does, and today, many people live off interest. 

Money is a great system, far superior to barter. Creating money to equate the real wealth of a nation or giving credit to an individual, is not the problem. It is the charging of INTEREST that is the root cause of all our economic problems. We are told that all nations are in debt. Ask yourself, or any politician - if all nations are in debt, who is the creditor ?

Thou shalt not lend upon usury (interest) to thy brother, interest on the money, or on anything that is lent with interest.

Deut – 23.19

He that putteth not out his money to usury, nor taketh reward against the innocent, he that doeth these things shall never be moved.

Psalm 15:5

Similar verses against the Babylonian practice of Usury are found in the Koran.

Sooner or later, the words of Lord Acton will materialise – he said – "... the issue which has swept down the centuries and will have to be fought sooner or later is THE PEOPLE VERSUS THE BANKS."

"Poor people have access to the courts in the same sense that Christians had access to the lions." - Justice Earl Johnson, Jr.

“The Bank [his bank of England] hat benefit of interest on all moneys which it creates out of nothing…” – 1694, William Patterson, founder of the private Bank of England and the imperial/colonial company known as the East-India Company

 

“You see, a legitimate government can both spend and lend money into circulation, while banks can only lend significant amounts of their promissory bank notes, for they can neither give away nor spend but a tiny fraction of the money the people need. Thus, when your bankers here in England place money in circulation, there is always a debt principal to be returned and usury to be paid. The result is that you have always too little credit in circulation to give the workers full employment. You do not have too many workers, you have too little money in circulation, and that [money] which circulates all bears the endless burden of unpayable debt and usury…..In the Colonies, we issue our own money. It is called Colonial Scrip [interest-free, wealth-based money issued by The Colonies 1750-1764 before Bank of England crooks made it illegal]. We issue it in proper proportion to make the products pass easily from the producers to the consumers. In this manner, creating ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one….” – Benjamin Franklin (US statesman, political theorist, genius inventor), speaking at the London Parliament, 1763.

 

In 1764, England outlawed all forms of paper money issued by The American Colonies and forced them to use Bank of England notes.

 

http://www.usdebtclock.org/money-history/money-timeline1100-1791.html 

http://olldownload.libertyfund.org/?option=com_staticxt <http://olldownload.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27> &staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27


CHAPTER TEN. - Misc (Magna Carta), Magna Carta: A Commentary on the Great Charter of King John, with an Historical Introduction [1215]


Si quis mutuo ceperit aliquid a Judeis, plus vel minus, et moriatur antequam illud solvatur, debitum non usuret quamdiu heres fuerit infra etatem, de quocumque teneat; et si debitum illud inciderit in manus nostras, nos non capiemus nisi catallum contentum in carta.

If one who has borrowed from the Jews any sum, great or small, die before that loan be repaid, the debt shall not bear interest while the heir is under age, of whomsoever he may hold;1 <http://olldownload.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27#lf0032_footnote_nt532>  and if the debt fall into our hands, we will not take anything except the principal sum2 <http://olldownload.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27#lf0032_footnote_nt533>  contained in the bond.

Usury, denied by law to Christians, was carried on by Jews under disadvantages and risks. The rates of interest were proportionately high, ranging in normal cases from two to four pence per pound per week; that is, from 43⅓ to 86⅔ per cent. per annum.3 <http://olldownload.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27#lf0032_footnote_nt534>  During his nonage a ward had nothing wherewith to discharge either principal or interest, since he who had the wardship drew the revenue. At the end of a long minority, an heir would have found the richest estates swallowed up by a debt which had increased automatically ten or twenty–fold.4 <http://olldownload.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27#lf0032_footnote_nt535> 

Magna Carta prevented this injustice to the ward; During the minority no interest at all, it was provided, should accrue to Jew or other usurer; while, if the debt passed to the Crown, the King must not use his prerogative to extort more than a private debtor might; he must confine himself to the principal sum specified in the document of debt. The provision that no interest should run during minorities was confirmed by the Statute of Merton,1 <http://olldownload.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27#lf0032_footnote_nt536>  which made it clear, however, that its provisions should not operate to discharge the principal sum or interest accrued before the ancestor’s death. The Statute of Jewry, of uncertain date,2 <http://olldownload.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=338&chapter=48798&layout=html&Itemid=27#lf0032_footnote_nt537>  made interest irrecoverable by legal process. All previous acts against usury were repealed by the statute 37 Henry VIII. c. 9, which, however, forbade the exaction of interest at a higher rate than 10 per cent., and this remained the legal rate until reduced to 8 per cent. by 21 James I. c. 17.

http://forumnews.wordpress.com/public-interest-article/111-usury-free-banking-as-social-business/


11.1 Usury-Free Banking as Social Business...
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