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A comment on America's 1% Has Taken $50T From the Bottom 90%. Parent comment

Re:America's 1% Has Taken $50T From the Bottom 90% by jay_kyburz on Thursday February 11, 2021 @04:43PM (#26107730)
In utopian reality, you could run a state owned bank that was run not-for-profit and only charged interest enough to cover losses and expenses.
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Re:America's 1% Has Taken $50T From the Bottom 90% by User23 on Thursday February 11, 2021 @06:50PM (#26109149)
In real reality, Danish banks are charging 0% interest for mortgages and making their money off of closing fees[1]. Also the natural rate of interest is zero[2].

Just because you've been raised from birth to believe usury is necessary for the payment system (not the economy!) to function doesn't make it so.

[1] https://au.finance.yahoo.com/news/danish-bank-introduces-new...

[2] https://news.ycombinator.com/item?id=16414199 http://www.moslereconomics.com/wp-content/graphs/2009/07/nat... (link is broken in the HN post)

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