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Jamie
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Keep on trucking along and ignore the haters!

Replying to Avatar FLASH

⚡️💬 5 years ago I was very close to taking out a home loan (God forbid). But it frustrated me, I couldn't understand why I had to pay rent when I could "own" my own home for the same amount. Then I got interested in economics & finance and discovered the other side of the story and I understood...

Interest-bearing credit allows the rich (creditors) to get richer effortlessly and without risk, while the borrowers (often poor or vulnerable) get poorer because of the high interest payments.

Usurious interest feeds speculation (especially in real estate), and it's the middle classes who pay the highest price for housing.

States are over-indebted and dependent on the financial markets... they pass this on to the population to continue to incur debt and pay ever-higher interest rates (higher taxes, pension reforms, cuts in social benefits, etc.).

Usurious interest is responsible for inflation: the rich get richer by borrowing at low rates to accumulate assets, while the poor suffer the loss in value of money.

Certain powerful countries can go into almost infinite debt, and usurious interest finances and fuels wars around the world.

Over-consumption, waste, pollution... all the ills of this world, going back to the beginning, are always linked in one way or another to usurious interest.

🗣️ Did you know that usurious interest (i.e. lending money at interest) is forbidden in several religions?

➤ According to Islam: Formally forbidden, called riba in the Koran. Riba is considered a serious sin, as it is seen as a form of exploitation.

- Qur'anic example (Sura 2:275): "Those who consume usurious interest will only rise up (on the Day of Judgment) as one who has been upset by the devil's touch. (...) Allah has permitted trade and forbidden usury. (...) "

➤ According to Christianity: Usury was condemned in the first centuries of Christianity. The Gospels call for lending without expecting in return. Councils (Middle Ages) forbade Christians to practice usury. Today, churches no longer forbid moderate interest, but excessive usury remains morally condemned.

- Biblical example (Exodus 22:25): "If you lend money to one of my people, to the poor man who is with you, you shall not be to him as a creditor; you shall not charge him interest. "

➤ According to Judaism: The Torah forbids charging interest between Jews, but allows it towards non-Jews.

- Example (Deuteronomy 23:20-21): "You shall not lend interest to your brother..."

I tell myself that behind every prohibition there is God's wisdom, whether we understand it or not.

There's nothing fraternal about shaking hands with your banker after signing your loan; you literally go from free man to slave in one signature...

That's why bitcoin, that's why I put so much energy into Nostr, I'm looking for financial freedom while remaining FREE!

I have a different take. It is very important for someone’s growth to own their house. For almost all, this means debt and accountability to pay it back. If someone is paying rent then they are still a slave to the renter.

The game is live below your means, buy assets and, eventually, get yourself financial freedom. Waiting to buy a house can cause someone to not grow roots in their community.

Replying to Ailo

Listening to this reading of The Great Taking by nostr:nprofile1qqstnem9g6aqv3tw6vqaneftcj06frns56lj9q470gdww228vysz8hqpzdmhxue69uhkzmr8duh82arcduhx7mn9qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgdwaehxw309ahx7uewd3hkcam28zl definitely persuaded me against any kind of loan with Bitcoin as collateral. The whole rigging of the financial system beggars belief, and keeping your coins as far away from all that as possible is imperative.

Fantastic job Guy as always, although I was missing a fiery rant at the end. Then again, maybe the book speaks for itself.

https://fountain.fm/episode/CZUyoWaoWL1Kqr64Y4ER

I just listened to all 4 parts and am going to read the book. I need to better understand the risk to see if I should be adjusting my finances. Thanks Guy for turning me onto this book.

Great to see progress! With the creation of symbols, we are always going to have differing opinions. I look forward to me seeing the symbol in apps and immediately recognizing what it means.

Today is the day that I realize I follow too many Bitcoiners 😏🤘🚀

I was just thinking the other that there seems to be a shift to using the term “sats”. I don’t know when it happened but it is used everywhere and everyone understands that it is a smaller unit of a bitcoin. No need to change this at all.

I’m staying clear of XRP! The foundation of it is centralized so I’m concerned that incentives will cause it to be manipulated by whoever is in control. For those thinking of buying, do a little research before buying.

Honestly, this math doesn’t make any sense. There are 450 new bitcoin minted in a day. In a perfect scenario, they’d be able to purchase $250 million worth of Bitcoin based on what is minted. That means they have to purchase 2.75 billion from existing holders. This should make the price move higher than it has.

I don’t think these announcements align to what is actually being purchased. Funny business is going on here…

Pete Rose is now eligible for the Hall of Fame. They reinstated him less than a year after his death. He will never get the chance to receive the honour and they will surely make money of him.

Shame on you #mlb. You should have done it a long time ago.