Bady@lemmy.ml to Asklemmy@lemmy.ml · 1 year agoWhat are some notable scams in history that went unnoticed for so long?message-squaremessage-square462fedilinkarrow-up1392arrow-down17
arrow-up1385arrow-down1message-squareWhat are some notable scams in history that went unnoticed for so long?Bady@lemmy.ml to Asklemmy@lemmy.ml · 1 year agomessage-square462fedilink
minus-squareRich Aten@lemmy.worldlinkfedilinkEnglisharrow-up12arrow-down2·1 year agoIn what way is compound interest a scam? Who has been “scammed” by compound interest and how?
minus-squareRodeo@lemmy.calinkfedilinkarrow-up13arrow-down3·1 year agoFor most of history charging interest was considered very unethical. There’s even a derogatory term for it: usury. It’s a rather recent phenomenon that usury has become acceptable.
minus-squareMrTulip@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up12arrow-down1·1 year agoYep. The one time Jesus got violent in the Bible, it was against the money lenders.
Compound interest
In what way is compound interest a scam? Who has been “scammed” by compound interest and how?
For most of history charging interest was considered very unethical. There’s even a derogatory term for it: usury.
It’s a rather recent phenomenon that usury has become acceptable.
Yep. The one time Jesus got violent in the Bible, it was against the money lenders.