Interest Rates

[Thinkingstuff]

The bible has specific things to say about interest rates and charging people interest. The US has revelled in the marvel of compound interest (and suffered for it too). Yet does what scripture teach in favor or opposed to such application? Are we appling biblical principles to our economy? If not are we sinning?

Exodus 22:25

25 "If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest. [a]

Leviticus 25:36-37

Do not take interest of any kind from him, but fear your God, so that your countryman may continue to live among you You must not lend him money at interest or sell him food at a profit.

Would these following verse be applicable to compound interest?
Deuteronomy 23:19

Do not charge your brother interest, whether on money or food or anything else that may earn interest.

Proverbs 28:8

He who increases his wealth by exorbitant interest amasses it for another, who will be kind to the poor.

Ezekiel 18:8

He does not lend at usury or take excessive interest. He withholds his hand from doing wrong and judges fairly between man and man.

Ezekiel 18:13

He lends at usury and takes excessive interest. Will such a man live? He will not! Because he has done all these detestable things, he will surely be put to death and his blood will be on his own head.

But then
Duteronomy 23:20

You may charge a foreigner interest, but not a brother Israelite, so that the LORD your God may bless you in everything you put your hand to in the land you are entering to possess.

Matthew 25:27

Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest

Luke 19:23

Why then didn't you put my money on deposit, so that when I came back, I could have collected it with interest?'

 

[Deacon]

Quote: "You probably read this prohibition of interest the way I do: that was then and this is now.
Reading the Bible like this is reading the Bible as Story. It unfolds and propels us to live out the Bible in our day in our way."

The Blue Parakeet, Rethinking How You Read the Bible
By Scot McKnight (Zondervan, 2008) p 57

 

[Thinkingstuff]

Quote: "You probably read this prohibition of interest the way I do: that was then and this is now.
Reading the Bible like this is reading the Bible as Story. It unfolds and propels us to live out the Bible in our day in our way."

The Blue Parakeet, Rethinking How You Read the Bible
By Scot McKnight (Zondervan, 2008) p 57

You make a good point. However, it fall short with this aspect. Is their a principle that is unchanging as God and which he wants to get accross to us? Interest as used in this country for bebt and (other things) are often at Usery levels. Yet our financial system revolves around it like a fat greedy sun. We understand God is unchanging in who and what he is. whether old or new. In the old testiment people didn't understand about things like bacteria or the effect and how to attract mold. God encorporated in his law rules that taught a primitive humanity how to avoid problems associated with it. Now we understand about mold and do those things naturally or things that will have the same effect. However, what about interest are there natural pitfalls in this system that can harm humanity? I believe there is. In our society human life has been devalued to the point where abortion reigns because of a financial hinderance on the family. Land developers are constantly buying up farm land to build new suberbs. There is no natural growth and decline bacuase of credit. So are there more issues than just the acquisition of wealth? Is there a spiritual principle here?

 

[billwald]

We understand God is unchanging in who and what he is. whether old or new. In the old testiment people didn't understand about things like bacteria or the effect and how to attract mold. God encorporated in his law rules that taught a primitive humanity how to avoid problems associated with it. Now we understand about mold and do those things naturally or things that will have the same effect.

Why is this methodology OK for microbiology but not for astronomy and other areas of knowledge?

 

[Thinkingstuff]

We understand God is unchanging in who and what he is. whether old or new. In the old testiment people didn't understand about things like bacteria or the effect and how to attract mold. God encorporated in his law rules that taught a primitive humanity how to avoid problems associated with it. Now we understand about mold and do those things naturally or things that will have the same effect.

Why is this methodology OK for microbiology but not for astronomy and other areas of knowledge?

I'm not sure what you're referrencing?

 

[billwald]

In the same way that the people in bible times didn't understand germs so you say that God gave a sanitary code that they could understand.In the same way, they would not have understood atomic structure and atomic and sub atomic reactions so God told them a story of a six day creation.

So when Jesus taught

John 12:24
Verily, verily, I say unto you, Except a corn of wheat fall into the ground and die, it abideth alone: but if it die, it bringeth forth much fruit

I suspect that he was referring to the best agricultural theory of that day. We know that farmers "proof" their seed because dead seed does not sprout.

 

[Thinkingstuff]

In the same way that the people in bible times didn't understand germs so you say that God gave a sanitary code that they could understand.In the same way, they would not have understood atomic structure and atomic and sub atomic reactions so God told them a story of a six day creation.

So when Jesus taught

John 12:24
Verily, verily, I say unto you, Except a corn of wheat fall into the ground and die, it abideth alone: but if it die, it bringeth forth much fruit

I suspect that he was referring to the best agricultural theory of that day. We know that farmers "proof" their seed because dead seed does not sprout.

Ok. So ultimately what's he getting at? That this isn't a principle? Spell it out a bit for me. I think its a little over my head what point is bieng made. Sorry I'm not the shapest tool in the shed.