Lending

Banks and the Bible. What  does the Bible say about lending money? Banks propagate an image of “being there for you” and “they care about you.” Banks are there for you, but, only if you have money. Banks don’t care about you, they care about money…your money, and how much can they make off your back.

So, what does the Bible have to say about this subject? There are numerous passages that make it clear if you lend someone money, do not charge interest. There are even passages that say you should lend money without an expectation of getting paid back. Furthermore, for a long time, European Christians were allowed to make loans, but, they could not charge interest. Even the Koran forbids this: you cannot lend money with the expectation of benefitting in some way. Wealth must be accrued through legitimate work, trade and investments.

Our banks obviously do not abide by these passages. Not only do they charge exorbitant interest rates (check out the interest rate on your credit cards, or, realize when buying a home with a mortgage that you will actually pay 2.5 times the actual value of the home); they pay out ridiculously low interest rates on savings accounts and other investment offerings.

You should also note that if everyone wanted to withdraw their money out of a banking institution at the same time, banks do not have anywhere near enough funds to pay out everyone, even though it’s your money. Comforting, right?

I’ve said this before and I will say it again: banks, at best, are immoral and unethical. Can you trust banks? Look at what Wells Fargo fraudulently did in creating bogus accounts at the expense of customers, or, that TD Bank in the United States pled guilty to money laundering and paid a penalty of US1.8 billion dollars to settle the case. Yet, we are brainwashed from birth that banks are our friend. They are not. They want to make money, lots and lots of money, far beyond reasonable amounts. Some things are truly and knowingly rigged. Our banking system is one of those entities.