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1. :spinnenrad: Festivegoat :spinnenrad: (eiregoat@nicecrew.digital)'s status on Tuesday, 01-Oct-2024 07:27:14 JST :spinnenrad: Festivegoat :spinnenrad:

   • Tactical
   • Captain Ron Jon
   In order to have financial markets on a scale larger than a village there must be interest.
   
   Whether or not that is "usury" depends on which of the ten definitions you feel like using today. I'm not going to debate vague concepts you don't even understand yourself.
   • :spinnenrad: Festivegoat :spinnenrad: (eiregoat@nicecrew.digital)'s status on Tuesday, 01-Oct-2024 07:27:12 JST :spinnenrad: Festivegoat :spinnenrad:

     in reply to

     • Tactical
     • Quentel
     • Captain Ron Jon
     My proposal is that we should return to community based financial institutions such as savings and loan, credit unions and fraternal societies.
     
     They must be local and they must be open to competition, but they also must exist. Not having finance at all is like saying we shouldn't have guns because someone might get hurt. It's emotionally appealing but not a real option.
   • Woggy's Zeonic Frolicks (washedoutgundampilot@poa.st)'s status on Tuesday, 01-Oct-2024 07:27:12 JST Woggy's Zeonic Frolicks

     in reply to

     • Tactical
     • Quentel
     • Captain Ron Jon

     @Eiregoat @Quentel @LostShakerOfSalt @Tactical Like normal finance, but the highest level stakeholders are close enough to bleed if they deserve it?

   • Quentel (quentel@nicecrew.digital)'s status on Tuesday, 01-Oct-2024 07:27:13 JST Quentel

     in reply to

     • Tactical
     • Captain Ron Jon

     Compound interest becomes economic suffocation once those who are collecting most of the interest also buy up the majority of assets within the small villages.

   • :spinnenrad: Festivegoat :spinnenrad: (eiregoat@nicecrew.digital)'s status on Tuesday, 01-Oct-2024 07:27:13 JST :spinnenrad: Festivegoat :spinnenrad:

     in reply to

     • Tactical
     • Quentel
     • Captain Ron Jon
     Any debt can become suffocating if you have too much of it.
     
     Do you propose not having lending at all?
   • Quentel (quentel@nicecrew.digital)'s status on Tuesday, 01-Oct-2024 07:27:13 JST Quentel

     in reply to

     • Tactical
     • Captain Ron Jon

     There are no checks in-place within the current lending system. Large-scale lending systems cannot serve a population without also enslaving it since the stakeholders are only made up of lenders. Lending via compound interest is a one-way system with no reversal.

   • :spinnenrad: Festivegoat :spinnenrad: (eiregoat@nicecrew.digital)'s status on Tuesday, 01-Oct-2024 07:28:30 JST :spinnenrad: Festivegoat :spinnenrad:

     in reply to

     • Woggy's Zeonic Frolicks
     • Tactical
     • Quentel
     • Captain Ron Jon
     Yes. Anyone with power has to be physically vulnerable to the community they're serving. It doesn't even have to come to violence, usually social pressure is enough.
     
     Also there has to be actual potential for failure. No bailouts.
     Woggy's Zeonic Frolicks likes this.