49:00 CLAIRE KHAW joins to discuss the banning of usury.
51:00 Aunt and uncle who were missionaries in Colombia
53:00 There was a time when Christians did not practise usury in Christendom.
Jews were useful to Christians when Christians wanted to borrow money from them.
When Christian monarchs tired of paying back their loans, they would expel Jews from their kingdom.
54:00 Would Olson like to ban usury?
55:00 When Claire said "capital", she meant "principal", clearly. If you have repaid the principal, you can default on the interest payments. Banning usury would mean making all loan agreements contracted under usurious terms illegal contracts which courts would not enforce. Have you decided if Jesus was for or against usury?
56:00 Low interest rates would cause a housing bubble, wouldn't it?
59:00 So what causes boom-bust cycles?
59:30 What is the point of the Federal Reserve if not to regulate the economy through regulating interest rates to prevent boom-bust cycles?
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