Monday, August 24, 2015

Dr. CHE Sadaphal — The Problem With Interest

Dr. CHE Sadaphal, a Libertarian physician and New York City-based minister, writes that despite the economic benefits of  charging interest, the Bible is opposed to it. 

He writes: "Many people think that the Bible says certain things, when in fact, it is silent on the matter. Others think the Bible is quiet on some issues, when in fact, its voice is loud and clear. The beauty of the text is that its value is eternal, so what applied to the ancients at the time it was written still has as much force and validity now. Here’s an example: What if I told you there are passages in the Bible that would revolutionize the way banks, mortgage brokers, and money lenders do business? What if I told you there is an explicit Biblical prohibition against charging interest? What if I told you that charging interest is so deeply embedded in our way of life that rejecting it would result in financial collapse?
Interest is “a sum paid or charged for the use of money or for borrowing money.” Interest is a bedrock of modern capitalism, but being obedient to God means rejecting this cornerstone of the modern financial system."

Read the full article HERE.