
Origins of debt: Michael Hudson reveals how financial oligarchies in Greece & Rome shaped our world
Geopolitical Economy Report
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The Churchmen's Argument for a Low Interest 10% Interest Rate
Christian churchmen of the 12th century wrote that if there's a risk then you can charge interest for risk. This argument went on until about 1515 when Pope Leo convened a whole Lateran Council and said well we're going to call it interest now there's a new word with the new word that makes everything difference languages magic. The Roman papacy ended up sending the the fourth crusade to loot Constantinople and to essentially give 25% of all of the loot to Venice who advanced the money to hire the army to loot its way to by robbing Christian cities on the way to Constantinople.
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