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/biz/ - Business & Finance

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1027067 No.1027067 [Reply] [Original]

So what's up with the OFS (Orthodox Financial System)? The idea is to establish an international bank that doesn't charge any interest except to match inflation rates. The loans would be based on investment rather than usury, and the money garnered from that investment would be spread in further loans, allowing many workings to have Independent businesses. The idea behind it is a new financial system based on "social wealth" as opposed to "personal wealth"

Could it work?

http://www.themoscowtimes.com/business/article/orthodox-church-calls-for-alternative-financial-system-in-russia/527781.html

https://www.youtube.com/watch?v=AE1FzSC8DBs
https://www.youtube.com/watch?v=noetoc2W4Pc
https://www.youtube.com/watch?v=0JnCO0OlhlE

>> No.1027256

That's pretty much how it worked before usury became legal.

So no, not as well as usury does. Because usury forces the loantaker to produce in order to be able to pay off the interest.

A no interest loan lacks that incentive and historically usually was only given to mighty people as a bribe in order for the moneylenders to be allowed to conduct actually profitable business. Medieval banks got their profits from helping people transfer money over large distances in return for a percentage of the money.

>> No.1027261

>>1027067
>Economically destroyed country wants to implement economically destructive policies

>> No.1028677

>>1027067
The Saudis have been barking up that tree for years. Google 'Halal Finance'

>> No.1028714

>>1027256
>System that was functional and successful before usury is inferior to usury because reasons

Found the Jew.

>> No.1028728

>>1028714
>>>/pol/
>>>/x/
>>>/stormfront/

>> No.1028732
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1028732

>>1028728
>tfw the goyim find out

>> No.1028760

>>1028714
It was not very successful in doing anything except making guys like the Medici super rich.

>> No.1028772
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1028772

>>1028732