Magnanimitas22

About Magnanimitas22

Once the state admits the licit nature of usurious contracts, state-sponsored usury insures that everyone in the capitalist state, including the state itself, eventually gets saddled with unrepayable debt. At this point, with liquidity gone, the state allows the usurers (and the elected representatives they have put in office) to loot labor to pay for the usury burden. That means layoffs, reduced pay, outsourcing, pension fund looting, and all of the other methods that create anger and frustration. It also means that capitalism will increase the money supply to meet the debt burden, which means an on-going debasement of the currency, causing hardship for everyone but most especially for those on fixed incomes.