Why is Interest so bad? Riba has the potential to corrupt a society in a way that zina and other crimes can never do. Many religious figures and philosophers have commented about the evil nature of usury (interest): To take usury for money lent is unjust in itself, because this is to sell what does not exist, and this evidently leads to inequality which is contrary to justice -Thomas Aquinas[1] You cannot make money just with money. -Martin Luther[2] The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself and not from the natural object of it. For money was intended to be used in exchange but not to increase at interest. And this term interest (tokos), which means the birth of money from money is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth, this is the most unnatural.” -Aristotle[3] An important distinction that earlier religious clerics understood was that money is a means of exchange. It is not meant in it of itself to be a source of income. You can invest money by buying goods and products and selling them as a businessman. But when you loan money and make money off the money, you have perverted the purpose of money which is a means of exchange. And you have made it an end. [4] Today riba gives banks and the rich an incentive to lend money without fear of loss. Sequential years of banks lending/borrowing to the people helps stretch the gap between the rich and the poor. In the last few decades entire countries, governments and corporations have also gotten involved in riba on a massive scale. And we now live in a time where its actually possible to see the aftermath dealing with Interest on a global scale. The global economy is collapsing and we have front row seats. Consider going through some documentaries and see the key role Interest plays: Money As Debt 97% Owned Money As Debt Part 2 Riba helps create massive and permanent gaps between the rich and the poor. And unless we make radical changes soon; you can expect this gap to only widen further: In 1960, the 20% of the world’s people in the richest countries had 30 times the income of the poorest 20% — in 1997, 74 times as much.[5] The wealthiest nation on Earth has the widest gap between rich and poor of any industrialized nation.[6] The poorest 40 percent of the world’s population accounts for 5 percent of global income. The richest 20 percent accounts for three-quarters of world income. [7] At the end of the day, we can only make guesses about the full wisdom on why riba in all of its forms is so evil. Whether its $1 or $1000, by taking interest you are supporting this economic slavery system. Allah knows best.
Posted on: Tue, 21 Oct 2014 13:56:32 +0000
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