Chapter 42 - Quotes on The Effects of Usury


"Homelessness is absolutely guaranteed to some borrowers regardless of how hard they work, how many jobs they have, or how well intended they are. Sadly families go homeless with their children living in cars. The parents blame themselves which increases alcoholism, divorce and crime."



"Usury has been the opiate that has ruined the ingenuity of many of its civilizations."

[ Usury and its Effect on Rome and Early Christianity by Eduardo]

Rev. Henry Swabey

"The Usurer grew in significance as society made greater use of money."

[Usury and the Church of England by Rev. Henry Swabey]

cor-mariae writes about Barnaby Joyce

"Federal Agriculture Minister Barnaby Joyce has issued an ultimatum to the major banks, telling them to stop throwing drought-stricken farmers off their properties or risk government intervention.

Mr. Joyce yesterday called on the banks to be "fair, decent and patient" with north Australian farmers unable to pay their debts, and to "wait for the rain" instead of forcibly evicting them from their homes. "They must sort out this problem (of the mounting toll of farm foreclosures) or we will," an angry Mr Joyce told The Australian last night.

The desperate plight of dozens of farmers who have had their stations repossessed and sold by the banks this year and been left as "refugees in their own land" was also highlighted at a rural debt crisis rally in Winton, in outback Queensland last Friday. The meeting, which heard from tearful farmers pushed off their land from Charleville to the Gulf, called for an immediate moratorium on all bank repossessions until the drought breaks.

Mr Joyce reminded the big banks - ANZ, NAB, Westpac and the Commonwealth, as well as other rural lenders such as Rabo-bank, Suncorp and the Rural Bank - that it was the taxpayer who had propped them up with multi-billion-dollar guarantees during the global financial crisis.

"It's a very good question for the banks: that if you want us to underwrite you in the GFC, why shouldn't the banks return some of that favour now?" Mr Joyce said.

More than 46 farm families have been driven from their homes and properties in the past six months in the bone-dry Longreach-Muttaburra district.

In remote northwest Queensland and the Gulf, now desperately praying for a wet season, there are an estimated nine farm foreclosures and two suicides a week.

The most poignant case of farm foreclosures recently spurred national outrage - that of Charlie Phillott, 80, and his wife, Anne, evicted in March from rugged Carisbrooke station in the upper Diamantina by the ANZ Bank.

Their predicament arose after a $1.5 million loan was classed as an unpayable bad debt as land values fell because of the drought, despite Mr Phillott not having missed a loan repayment until the bank called in its loan in March 2012."