March 24, 2008

Credit Cards and Usury in America

by @ 8:02 pm. Filed under Business

Given how Pulpit Pimps seem to be OK with them when being used on their behalf, I wanted to provide a bit more information about how credit cards have caused many of America’s current issues. And there’s plenty of blame to go around, but the bottom line is that America has a debt problem now from top to bottom. With the average consumer, credit cards are a major source and it started being big once our government made it easier for banks to practice usury.


1. the lending or practice of lending money at an exorbitant interest.
2. an exorbitant amount or rate of interest, esp. in excess of the legal rate.
3. Obsolete. interest paid for the use of money.

I hope you noticed definition #3. Once upon a time on planet earth, charging any interest on money loaned to someone else was the definition of usury. In time it has changed to being very high interest rates, which credit cards are for many.

Below is a video that details how the credit card industry started booming in America. Of course almost all of us have helped in that.

Frontline – Secret History of the Credit Card (2004)

Under the old covenant the nation of Israel was forbidden to charge interest on loans to their own people. They could charge interest to people outside of their nation that they loaned money to. While we are not under the old covenant, the biblical definition of usury is still something to think about.

I’m having trouble finding biblical justification for Christians to engage in any sort of usury when I consider the following.

Matthew 5:42 (New American Standard Bible)

42 “Give to him who asks of you, and do not turn away from him who wants to borrow from you.

I’ve found that scripture offers a very logical reason for nations to flat out ban usury. So I just want to share that with you, hoping perhaps the video helps drive the point home.

Nehemiah 5:1-13 (New American Standard Bible)

1 Now there was a great outcry of the people and of their wives against their Jewish brothers.

2 For there were those who said, “We, our sons and our daughters are many; therefore let us get grain that we may eat and live.”

3 There were others who said, “We are mortgaging our fields, our vineyards and our houses that we might get grain because of the famine.”

4Also there were those who said, “We have borrowed money for the king’s tax on our fields and our vineyards.

5 “Now our flesh is like the flesh of our brothers, our children like their children Yet behold, we are forcing our sons and our daughters to be slaves, and some of our daughters are forced into bondage already, and we are helpless because our fields and vineyards belong to others.”

6 Then I was very angry when I had heard their outcry and these words.

7 I consulted with myself and contended with the nobles and the rulers and said to them, “You are exacting usury, each from his brother!” Therefore, I held a great assembly against them.

8 I said to them, “We according to our ability have redeemed our Jewish brothers who were sold to the nations; now would you even sell your brothers that they may be sold to us?” Then they were silent and could not find a word to say.

9 Again I said, “The thing which you are doing is not good; should you not walk in the fear of our God because of the reproach of the nations, our enemies?

10 “And likewise I, my brothers and my servants are lending them money and grain. Please, let us leave off this usury.

11 “Please, give back to them this very day their fields, their vineyards, their olive groves and their houses, also the hundredth part of the money and of the grain, the new wine and the oil that you are exacting from them.”

12 Then they said, “We will give it back and will require nothing from them; we will do exactly as you say ” So I called the priests and took an oath from them that they would do according to this promise.

13 I also shook out the front of my garment and said, “Thus may God shake out every man from his house and from his possessions who does not fulfill this promise; even thus may he be shaken out and emptied ” And all the assembly said, “Amen!” And they praised the LORD. Then the people did according to this promise.

Usury causes a nation to feed on its self, especially in times of financial crisis. Leaving the rich with everything and the rest struggling to eat. I’m not trying to have America “ban” all usury as the term is defined biblically. There were money changers when Jesus walked the earth in flesh and He didn’t turn over their tables when they operated outside the temple, He just didn’t allow them INSIDE. But I do find that America’s financial crisis becomes worse with more people owing more and government even owing more to foreign nations. And really our fiat currency system has gotten to a point where nobody having any loans would oddly result in America having less money or some say no money. It seems that it would be good practice by a government to keep interest rates under some sort of control. This does not mean I feel people with bad credit should get loans at the lowest rate or no interest rate, but perhaps people with bad credit would be better off if they were denied loans till they saved more?

Anyone without Christ is going to burn, but I’m just pondering this fine credit mess America is in. Because it’s becoming apparent to me that uncapped usury is not a good thing. And pulpit pimps only prove themselves to be vipers by participating in accepting credit cards for church donations.

Anyway, avoid debt as best you can.

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6 Responses to “Credit Cards and Usury in America”

  1. KyleAndrews Says:

    70% of our economy is consumer driven and much of that is by debt. We recently have entered a period where as a whole we have negative savings. In other words our debt exceeds our bank deposits. The real question that needs to be answered is how long can we do this. The Federal Reserve is like ancient alchemist. They create something of value out of nothing. Like them we too as consumers are surrounded by things which have “value” but were purchased with IOUs or credit. As long as the game of fiat money creation can be maintained then we can and will continue. However, we are seeing stresses in the system where consumers can no longer pay back their debt load. And unlike Bear Sterns don’t expect the Fed to bail you out for pennies on the dollar. When the “personal” credit bubble bursts that will be the time when we will call our currency. We are not far off. That being said, the Fed has begun it’s corporate welfare scheme and may be able to avert a major economic catastrophe this time. We will be the ones paying for it. That being said if we avert the BIG ONE this time around the next one will hit us because that is going to be the consumer debt bubble. FYI, 1980s Savings and Loans, 1990s Telecom-Internet, 2000s Housing Crises, Very soon Consumer debt implosion. The time gap between this fiasco we are in and the Consumer debt bubble collapse is going to be short. But in the mean time the Fed “may” have averted the Big One this time around. Not so next time.


  2. IndependentConservative Says:

    The Federal Reserve is like ancient alchemist. They create something of value out of nothing.

    It’s sad, but so funny 😆 .

    And unlike Bear Sterns don’t expect the Fed to bail you out for pennies on the dollar.

    You got that right. Run from debt as best you can. The average consumer is doing a circus stunt with no net.

    This debt snowball is not going to just melt and vanish, it’s going to hit us, because we are the ones being given the load of all these bailouts.

  3. speakingtruth Says:

    This is another glimpse of our future in America. Sadly, many Christians keep assisting in this debacle by funding (on credit) not only their opulent lifestyles, but the lifestyles of their pulpit pimp.

    All of these new beautiful churches aren’t being built on the donations of their members (otherwise they wouldn’t look like they do). No, they’re built on “giving campaigns” that only pay the monthly mortgage instead of paying for the edifice outright.

    Doesn’t the bible say that we’re supposed to lend to nations?

    Then, the pimp lies and says “look at how good God is”.

    God is good, but do we really think that He is pleased when we adopt a corrupt world system and go to them to fund these massive “houses of worship” so that we can “testi-lie”?

    Kyle is right – the consumer debt bubble will burst soon, but do you think these pimps will help their congregation when the going get’s tough? I think not.

  4. IndependentConservative Says:

    Hey speakingtruth,

    Deuteronomy 15:6 does not apply to our dispensation of grace as it did the nation of Israel. With money, we are supposed to be content with simply basic needs met, 1 Timothy 6. We Christians are not at all promised that before the Lord’s return we would lend money to nations. The nations are being consumed under the control of the Anti-Christ, so it would be oxymoronic for nations to be in debt to saints. They are under the influence of the god of this world, Satan, 2 Corinthians 4:3-4.

    What we offer is something greater than money, we share the message of salvation in the Lord Jesus Christ. Our Lord’s kingdom is not of this world, John 18:36. Money of this world is the wealth of unrighteousness, while we work towards building up heavenly rewards, Luke 16:9. That’s not to say being earthly rich is evil in its self, but for us this life is as vapor and we simply live monetarily as the Lord wills, James 4:13-17.

    The monetary system of this world is to be ruled by our adversary, some day it will not even be accessible to us and only used by those who take the mark of the beast, Revelation 13:11-18.

  5. speakingtruth Says:

    I stand corrected about Deut. 15:6 – and my view of our place in this economy. I still find myself “squeezing” the WOF stuff out of my system, and I’m still surprised at how much it shaped my thinking.

    I’m free of the plantation, but I’m still working on renewing my mind…thanks for your help.

  6. Theopolitan Says:

    A few comments:

    1) An elastic, fiat currency violates the law of just weights and measures under the 8th Commandment.
    2) Usury directly violates the 8th Commandment.
    3) The imposition of involuntary debt on the innocent is sinful, therefore is a violation of God’s law and cannot be justified under any circumstances.
    4) All involuntary debt must be repudiated before any nation can find favor with Christ our Lord — that is not to say that other sins are acceptable, but certainly no, common, institutional, or national sin of any kind is compatible with the kingdom of God.
    5)The example is clear: don’t just stop usury from this point forward….. give it all back… even the 1%……Justice demands that a victim of theft must be made whole! —–“Please, give back to them this very day their fields, their vineyards, their olive groves and their houses, also the hundredth part of the money and of the grain, the new wine and the oil that you are exacting from them.”
    6) America must repent and do justice, protect and defend the innocent, acknowledge the sovereignty of Christ in all things. Absent this, she will be dismantled brick by brick and tossed in the dust bin of history. None can save her from destruction except the obedience of faith in Christ the Lord.

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