Keeping the record straight
January 30, 2015 § 34 Comments
Some folks who don’t agree with my writing on usury, while apparently lacking any argument against, are reduced to slander:
“I’m just some guy. I have an MBA, I’ve started and run a few small companies, and I have quite a bit of experience as an investor. I became interested in usury in 2008 during the financial crisis, and was surprised to find myself in perfect agreement (as best as I can tell) with St. Thomas Aquinas on the subject. I’ve read every single Magisterial statement on the subject in Denzinger, everything I could find by Aquinas, a number of old books, some academic papers, and a bunch of stuff on the web. I think I have it right, but I’m not some high-falutin authority.”
Above translated using Google Life Experience.
I was wiped out in 2008 and wanted to intellectually justify not paying my debts, rather than simply being declared a bankrupt and starting over with no debts and no credit. With all my spare time I read Denzinger and then Aquinas.
Had I made a ton of money with my leveraged gamble, rather than losing, it I wouldn’t be against usury. I am the fox without a tail. If I can pin the blame on others then I won’t have to change myself which I would find difficult and scary.
Since I cannot borrow money for the next 5-10 years because of my poor Credit Rating I don’t want anyone else to either.
They can just delay starting families and buying homes until they have saved up 500,000 dollars in cash, in a zero interest environment. Maybe by the time they are 40, with a little luck, they’ll be able to have a child.
For the record I’ve never been ‘wiped out’ financially, no investor other than myself has ever lost money investing in one of my personal ventures (though not many have had the opportunity), I actually made money during the 2008 crisis because I was in a position to buy when everyone was selling, and I’ve never failed to repay a debt (whether usurious or not).
Oh, and I don’t give financial advice.
Commenter TM Lutas is now posting in the linked forum too. Feel free to check it out. When he posted a comment here calling me a liar (among other things) I put him into moderation. Folks can feel free to engage in that sort of content-free discourse somewhere other than here.