Usury

Editor’s Note: Following last month’s article on Martin Luther’s view of usury and usurers, it is appropriate that special correspondent Don Robson enlightens us further with an explanation of God’s Law on Usury and the Law of Release.

As we stumble towards that great day of God Almighty, and the enemies of Jesus Christ continue implementation of their plan for the destruction of God’s people and any vestige of Christianity, we may look to usury as a primary cause of our distress. We all know the borrower is servant to the lender, and most of thc population is in bondage with mortgages, credit card debts and borrowings from banks. Most of the bank debts are secured by collateral, so we pay the banks or lose our assets.

Before proceeding with this discussion, we shall review some of the things the Bible has to say about usury. Deut 23. 19, “Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury: Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: that the Lord thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it.” Now this is only one of several statements found in the books of the law but it does not stop there. The issue of lending also involves the release from debt (unpaid debt). This is a part of the law of the Sabbath which requires rest from all labour, rest for the land (no farming) and release of slaves or indentured workers. Deut 15: 1 & 2, “At the end of every seven years thou shalt make a release. And this is the manner of the release; Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother, because it is called the Lord’s release.” Further, the Lord cautions about not lending because of the approaching release. Consider Deut 15: 9 & 10, “Beware that there not be a thought in thy wicked heart, saying, the seventh year, the year of release is at hand; and thy eye be evil against thy poor brother, and thou gavest him nought; and he cry unto the Lord against thee, and it be a sin unto thee. Thou shalt surely give him, and thy heart shall not be grieved when thou givest unto him: because for this thing the Lord thy God shall bless thee in all thy works, and in all that thou puttest thy hand unto.” So, God in effect, is saying that he will take on the forgiven debt by blessing our endeavours so that we will not be hurt by releasing the debt!

How far we have strayed from these rules; we do the exact opposite! We allow and charge interest and we do not forgive debt. Yes, we have bankruptcy rules designed to help bankrupt persons to get a fresh start, but if we followed God’s rules we would have no bankruptcies and no need for such laws. By the way, in God’s laws, there is no taxation on property, just a tithe on the increase; so, if there is no increase (say a crop failure) then there is no tax on the property. It is God’s wish that each member of the community should have his own inheritance in the land in perpetuity. As you are well aware, failure to pay our property taxes can result in the property being sold for the tax money. Many have enriched themselves by this means.

In 1913, the Federal Reserve Act was passed in Washington beginning a new era in finance in America. The Federal Reserve Bank is a private bank owned by eight private banks holding controlling stock. They control the money supply in the United States. So, the American government has given up the right to issue and control the money supply; the same applies in Canada. The government has two methods of financing its undertakings. The obvious one is taxation and the other is borrowing from banks at interest. Billions of dollars of taxation go to service the debt. In third world countries, their debt is such that it takes all the production of the countries to service the debt so all the wealth of the countries goes to the bankers in the form of interest. They have NO hope of ever paying off the debt but there have been some discussions on cancellation of debt. I am happy to say that, in some cases, Canada has released countries from debt, but it is not nearly enough.

Now, the Bible says that Israel shall not borrow; it is all right to lend (at one time, America was the world’s largest creditor) but not to borrow (now America is the most indebted nation!). I am focused on America, because that situation is well publicized. Recently, the law which placed a ceiling on borrowing at EIGHT Trillion dollars was altered so that more could be borrowed! It is reported that America borrows 50 billion dollars per month from China to finance its wars and over spending. One percent of one trillion dollars is ten billion dollars and I am sure there are no international interest rates of one percent. Can this debt ever be repaid? Compounding the issue is the fact the American public carries enormous debt and already one mortgage company has filed for bankruptcy protection.

I am led to the conclusion that, just as the wealth of third world countries is siphoned off to the international bankers, the wealth of America is being siphoned off and when the financial system collapses, those same bankers will come, pockets bursting with money, to buy up the devalued assets that belonged to America and Americans. No, pockets would not be enough; they will come with wheel barrows full of money! Maybe truck loads! !

So, because of our greed, we abandoned the Lord’s counsel and have dug ourselves into a deep financial hole. Is there any escape? Perhaps “escape” is a poor word and we should be thinking termination. The book of Revelation describes the ending of the Babylonish system. The following quotes are from chapter eighteen. “Merchants saying, Alas, alas that great city that was clothed in fine linen, and purple and scarlet, and decked with gold and precious stones and pearls! For in one hour is so great riches come to naught. Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate! Rejoice over her, thou heaven, and ye holy apostles and prophets; for God hath avenged you on her.”

So, I conclude there will be no relief for us from the Babylonish system until it is brought down by God. Since many of Jesus’ indicators of the times of the end are with us now, we may expect this destruction soon. We pray that the Lord will preserve us so that we may join with heaven in rejoicing, knowing that,” God hath avenged you on her”!