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Magna Carta stated "applying interest to a loan, shall be punishable with Death"
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[quote:Duncan Kunz:MV8xOTU1NDRfMzc1MjYzMV9BMkRGN0QxRg==] Indigo454 says: "1...It must be remembered that Magna Carta stated that the charging or collecting of interest carried the death penalty." That is simply not true. Here is a translation of the Magna Carta,along with the original (which I can read, albeit slowly): http://www.bl.uk/treasures/magnacarta/translation.html If you go through it, the only place it even mentions interest is in section 10: "10. Si quis mutuo ceperit aliquid a Judeis, plus vel minus, et moriatur antequam debitum illud solvatur, debitum non usuret quamdiu heres fuerit infra etatem, de quocumque teneat; et si debitum illud inciderit in manus nostras, nos non capiemus nisi catallum contentum in carta." In English: "(10) If anyone who has borrowed a sum of money from Jews dies before the debt has been repaid, his heir shall pay no interest on the debt for so long as he remains under age, irrespective of whom he holds his lands. If such a debt falls into the hands of the Crown, it will take nothing except the principal sum specified in the bond." This is implicit in permitting the charging of interest on a debt, even if you're a (gasp!) Jew. [/quote]
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Electronic transactions control our lives.....
The Bank of England was first formed in 1694. King William of Orange was in financial difficulties as a result of a war with France. The Goldsmiths "lent him" 1.2 million pounds (a staggering amount in those days) with certain conditions:
1.The interest rate was to be 8%. It must be remembered that Magna Carta stated that the charging or collecting of interest carried the death penalty.
2.The King was to grant the goldsmiths a charter for the bank which gave them the right to issue credit.
Prior to this, their operations of issuing receipts for more money than they held in deposits was totally illegal. The charter made it legal.
In 1694 William Patterson obtained the Charter for the Bank of England.
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