Monetary Reform - Need and Method (excerpt 1 (1939))

"Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of anything that is lent upon usury" - Deut. 23:19-20 and Lev. 25:35-37 -- exacting interest - a false system of economy - such a system obviously heavily penalises the "have not's" in favor of those who "have", bringing widespread discontent and envy, and giving greater power to those already in power and greater servitude to those who serve, the process being progressively and continuously cumulative, going from bad to worse - usury therefore "devours poor men's houses" for the benefit and profit of the rich - ultimate impossibility of the usury system - the money to repay does not exist - any system based in any manner upon usury is certain to fail - money is credit created out of nothing - banks create credit; they lend out what they themselves do not possess and charge a nice sum for it.