Perhaps, but when talking of lending, how does one ensure repayment?
Of course, banks and the like offer no interest if paid in X amount of time that you agree to when making a purchase -- so the goal isn't always to directly make money from every purchase using credit.
But when you fail to make payments on time, the price goes up and they end up making money off of you. They are able to enforce this because of government, police, etc.
How do we peaceably lend -- at any interest rate -- without essentially footing the bill for them? We wouldn't be able to wage war for those ends or forcibly take equivalent value from them.
Obviously lending has to be done sensibly, in considerably small numbers, and if payment is missed then said country should go into bad standing and if another payment is missed, then they are blacklisted for X amount of years from any lending including aid for national disasters -- or alternatively, blacklisted until their debt is paid off with interest.
Agree, what about 0% interest with huge fines or late fees?
Perhaps, but when talking of lending, how does one ensure repayment?
Of course, banks and the like offer no interest if paid in X amount of time that you agree to when making a purchase -- so the goal isn't always to directly make money from every purchase using credit.
But when you fail to make payments on time, the price goes up and they end up making money off of you. They are able to enforce this because of government, police, etc.
How do we peaceably lend -- at any interest rate -- without essentially footing the bill for them? We wouldn't be able to wage war for those ends or forcibly take equivalent value from them.
Obviously lending has to be done sensibly, in considerably small numbers, and if payment is missed then said country should go into bad standing and if another payment is missed, then they are blacklisted for X amount of years from any lending including aid for national disasters -- or alternatively, blacklisted until their debt is paid off with interest.