The United States Of Usury
The average rate for most mortgages in the US has risen to nearly 7.1% (30 rate fixed loans).
This is its highest level in over twenty years. The last time it was this high was in December 2001.
But home prices are nowhere near as cheap as they were in the past, even inflation adjusted. In fact, they are about double the CPI-Adjusted Price of 2001:
Given the astronomically higher prices attached with high interest rates, it is no surprise that sales of homes are dropping (19% year-over-year in June).
But what most people seem to not be discussing is the new change to the total interest expense over the life of the loan, given the higher rates.
At these prices and these interest rates, a buyer who is able to make a 20% down payment (which is rare, given the new average cost) at the median home cost (400k), would still pay over $470k in interest over the year of the loan—Which is more than the cost the house itself.
For a normal working-class person, who would put a more reasonable 10% down, we’re looking at over $510k in interest over the life of the loan.
You would pay more in interest on the loan the than actual principle itself. Completely absurd.
Half a million dollars—to subhuman bankers, simply for a place to call your own.
This is usury in plain sight.
It is so obvious and in-your-face that most people cannot even see it due to sheer proximity. This is why we used to have laws that interest could not exceed x% of a loan’s amount. Because now the interest on many loans is above 100% of the loan amount.
Not only is this usury, but it is usury in its worst form, regarding thieving and getting rich based on an essential need (shelter) from your own countrymen. It is despicable.
So many people blame the “housing crisis” for this, but that’s a smoke screen. A monkey could fix our housing problem. It is not difficult, it’s just not profitable to bankers, so it’ll never get done:
A separate group of imbeciles keep yelling that this is “muh normal interest rates in free market“—If this is the best the free market can do, is permit usurious actions by the bankers that result in interest expense of half a million dollars just for a normal working-class person to have a place to live, then the free market sucks and should go to hell where it belongs.
There are so many libertarian-types that keep repeating the mantra about “normal interest rates“. It always makes me laugh. Normal according to what? The last 100 years of the United States while we’ve been enslaved by a central bank? Yeah, that’s a great thing to emulate. These rates were not “normal” pre-Reconstruction in the United States, or in the entirety of Christendom, or even in Greco-Roman times. It’s only “normal” to the man that understands absolutely zero financial history of Western Civilization outside of the most recent century.
Caesar capped interest at 1% in the Roman Empire. The Greeks abhorred the practice. In the vast majority of Christendom, interest was banned or also capped at cost. Only under modernity do we suffer with this plague.
It’s only “normal” under the current wicked, evil, corrupt, and banker-controlled modernity. And the idiot market-worshippers always fall for it. “We need market-driven interest rates!”, yell the fools who don’t realize the bankers will always pervert this freedom to their advantage.
This slavery to banks does not have to be normal. It wasn’t normal throughout the near entirety of our Western history. The only exceptions were when bankers had too much control, which was typically right before a collapse, major war, or both.
This is yet another reason why Christendom, or even a Roman Caesar, is so much better than modernity. But especially Christendom, which has integrated morals regarding this evil:
“If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him
If he has exacted usury
Or taken increase—
Shall he then live?
He shall not live!
If he has done any of these abominations,
He shall surely die;
His blood shall be upon him.
19 “You shall not charge interest to your brother—interest on money or food or anything that is lent out at interest. 20 To a foreigner you may charge interest, but to your brother you shall not charge interest, that the Lord your God may bless you in all to which you set your hand in the land which you are entering to possess.
12 And forgive us our debts, as we forgive our debtors.
In Christendom, you can’t have usury. It is simply incompatible with the moral system commanded by God. (Which is another knock against the “Judeo-Christian” lie, as Jews do not have a problem with interest.)
There is a reason why usury was banned in all great civilizations in the past and in God’s word. It doesn’t take a genius to figure out why.
We’ve broken that golden rule. So now we are a nation of serfs, paying one-half of our income to the Lords of the field (the state and bankers). Personal and national debt have driven us to this point, which are both debt to the same bankers. Debt is always harmful for us but immensely profitable for the lenders. Which is why we are in more of it than ever in our nation’s history.
The conclusion? Simple: When we get our own nation-state, 1) we need a state bank and 2) usury must be banned.
If anyone breaks that second law, simply follow Ezekial 18:13.
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