Correct Debt Calculation

Dr. Michael LaitmanQuestion: It has happened since ancient times that money lenders were mostly Jewish. It is believed that they specifically started the matter of collecting exorbitant interest.

Answer: It isn’t high interest or compound interest, the essence of which is now well understood by economists. Today it exists in any bank, in any business. The Jews began to collect interest because they knew how to correctly calculate the debt. Let’s suppose that I give you 100 dollars and you need to return the same amount to me the next day, but you return it to me after 20 days. So then, how much do you need to return? If you had immediately returned the money to me, then I could have invested it in a business and could have profited from it tomorrow, the next day, and so on, according to the cumulative calculation.

Thus, you need to compensate me for the amount that I lose because of you. The interest is not like the bank interest. If this amount wasn’t invested in circulation, then you wouldn’t owe me anything. But since I take it away from the circulating money, then you simply need to compensate me on what I lost.

Let’s suppose that with the same 100 dollars that I loaned you, I could have opened a line to manufacture cups and instead of $100, I would earn $200 a month. This means that you need to return $200 and there is no interest here. If you don’t return the money in time, but only after 2 months, then you need to return to me what I could have earned during those months with that same $100.

It’s the right move. There is no interest here! If the banks charge interest in addition, it’s because they exist on the account of interest, and it’s a totally different issue. One must differentiate between the two.
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From KabTV’s “Secrets of the Eternal Book” 5/27/13

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One Comment

  1. It is much easier. Where is no creditor , there is no Debitor.

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