Re:Bank Run at Silicon Valley Bank
by selimthegrim on Thursday March 09, 2023 @08:58PM
(#35089522)
I look forward to your interview with the Taliban finance ministry and Afghan central bank - let us know how they’re doing
[ Parent
| on HN ]
Re:Bank Run at Silicon Valley Bank
by brutusborn on Friday March 10, 2023 @01:07AM
(#35090976)
I must have missed this one in my Inbox - I look forward to it too haha
But to be serious, I'm not arguing that the Islamic system is "better", just that it removes certain risks that unrestricted lending cause. I don't think the solution is to ban lending but instead to be aware of the risks and make sure your regulation and enforcement is adequate.
I hate knee jerk dismissal of alternative policies, so I felt I needed to point out to the parent commenter that there are places where there is no debt, and no hunger.
Re:Bank Run at Silicon Valley Bank
by selimthegrim on Friday March 10, 2023 @05:49AM
(#35092849)
Believe me I wish there was no hunger in those places too
Re:Bank Run at Silicon Valley Bank
by brutusborn on Friday March 10, 2023 @08:45AM
(#35094231)
I definitely misspoke there: I meant that they have no debt and no mass starvation. I’m aware there’s a lot of poverty in the Islamic world, but it’s not because Usury is illegal.
It isn't not because of that either.
Re:Bank Run at Silicon Valley Bank
by brutusborn on Friday March 10, 2023 @09:09PM
(#35104376)
I’d need to see some statistics to be convinced either way.
When I think of poverty, I think of sub Saharan Africa. I believe debt is legal in most of those countries, so the odds are that banning debt is a small part of the poverty picture.