The Church’s teaching against usury has been infallibly defined and confirmed over and over again, but especially in the Papal Letter of Benedict XIV known as Vix Pervenit. In that encyclical, the pope stated: The nature of the sin called usury has its proper place and origin in a loan contract … [which] 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…but any gain which exceeds the amount he gave is illicit and usurious. A lender has the right to be made whole…to be compensated for services and the effects of inflation…but he is not allowed to make a direct profit…or gain…upon the loan itself. The Holy Bible is very clear on this point. The Book of Exodus, for example, reads: If you lend money to one of your poor neighbors among My People, you shall not act like an extortioner toward him by demanding interest from him. The Psalms and the Prophets confirm this prohibition. King David wrote: Lord, who shall abide in thy tabernacle? Who shall dwell in thy holy hill?…He that does not ask interest on his loan. And Ezekiel added: The upright man is law-abiding and honest…He never charges usury on loans, takes no interest, abstains from evil…It is Yahweh who speaks. Usury is always the main cause of economic collapse. Usury is the root cause of business cycles…of rapid expansion and rapid contraction…of Bull and Bear Markets…and always guarantees the concentration of wealth and mammon in the hands of a few. Usury is the cause of countries being unable to pay their bills. Since 1950, the US Federal government has paid more than $10 trillion dollars in interest using the value the dollar today. It is compound interest that has bankrupted virtually every nation in the developed world. Making usury illegal would virtually eliminate many of these evils and would guarantee a wider distribution of ownership and wealth in society. The debt would be one-third of its current size without usury. Furthermore, without usury, money could be used in more productive ways as investment and could produce a just profit. Only when Shylocks are once again despised and unjust interest and profit are taken out of the lending process will sanity and justice return to the field of lending and borrowing. For more please visit www.reginaprophetarum.org & remember to say 3 Hail Marys for the priest
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