The Bankers discovered how to exploit
Human credibility in the days when they were goldsmiths in the Middle Ages. They were the people who had strong vaults in which to store their stock. Other rich folk would hire space in the goldsmiths’ vaults to protect their valuables. The goldsmiths would issue written receipts for the gold and other precious items they took in for safe keeping. In due course these receipts became items of transaction. Then the goldsmiths realised that they could make loans in the form of paper receipts rather than actual gold or silver coinage.
To begin with, they only loaned an amount which was equivalent to the total worth of the valuables they held in store. Eventually, when they realised that rarely, if ever, all their clients simultaneously withdrew their valuables from storage, they began to issue ‘paper’ loans far in excess of the actual wealth in their vaults.
Thus began the great swindle that was to accrete
To the Bankers their enormous affluence and inordinate power. How that wealth and power built up can be appreciated from the fact that in England, prior to their expulsion in 1290, Jewish bankers vendors were charging their clients two pence (2d.) in the shilling per week interest. [12 pennies in one shilling, 20 shillings in £1—remember?] At the end of just one year, even at simple interest, the borrower would owe eight shillings and eight pence in interest plus the original one shilling ‘capital’. At compound interest, at the end of a year the borrower would owe a staggering one hundred and eleven pounds, five shillings—plus the original shilling!
Early in 1991 a very brief reference to this usury
Was made in a BBC2 TV ‘documentary’ about the ‘persecution’ of the Jews in England in mediaeval times. The programme quite ignored the terrible social consequences of such usury, and merely remarked that such interest rates were “usual”! That fact served to show who was ‘persecuting’ whom in those days—as in these! As an aside, it is noteworthy that the Jewish-run film and TV media love to churn out films about Italian/Sicilian Mafia “loan sharks” whose activities are rightly put on a par with drug-dealing and prostitution. When did you last see a film about Jewish money-lenders—even mediaeval ones—with their activities thus described? Where Jewish money-lenders.