this post was submitted on 10 Aug 2023
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[โ€“] rich8n 9 points 1 year ago (6 children)

In what way is compound interest a scam? Who has been "scammed" by compound interest and how?

[โ€“] [email protected] 12 points 1 year ago (5 children)

For most of history charging interest was considered very unethical. There's even a derogatory term for it: usury.

It's a rather recent phenomenon that usury has become acceptable.

[โ€“] [email protected] 13 points 1 year ago (1 children)

Yep. The one time Jesus got violent in the Bible, it was against the money lenders.

[โ€“] rich8n 0 points 1 year ago

And that means it's a scam today how exactly? The Bible was pretty explicitly against a lot of things. Are they scams? Is wearing two different fabrics a scam? Is eating shellfish a scam?

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