#legal moneylender

[avismoney]

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[cobragardens]

The Golden Lion

For all that Aziraphale is the more frightened of the two of them, Crowley is the snake: he camouflages himself carefully, and his first instinct is always to flee.

Aziraphale's is to stay. He insists on facing the Apocalypse. He insists on facing the Second Coming. He insists on trying to make a difference. He doesn't want to go up to Heaven, but he does it anyway, alone, because he wants to stop the destruction of Earth (again) and keep Crowley safe.

He's very difficult to shame, too. He never gives up his innocent pleasure in eating, even though Heaven, Hell, and probably people on Earth all mock him for it. He's soft and he remains soft, even after Gabriel shames him for both his physical and metaphorical softness. That takes a lot of strength and an unshakeable character.

You know the gold ring Aziraphale wears as a badge of office, that functions as the counterpart to Crowley's snake tattoo? The charge on that ring is a lion.

The heraldic attitude of the lion is rampant (i.e., reared up): it stands on its hind legs with its forelegs raised, as though attacking, and its head is forward-facing: it looks forward, toward the future.

Obviously in popular symbolism, lions represent bravery, and that definitely fits Aziraphale. He's literally leaving the only person who has ever loved him to go make the universe a better place for that person and for everyone, and he's going alone amongst the people who have despised and shamed him his whole existence and tried to kill him at least once; those people are mfing Heaven and have been entrenched in their power for thousands or millions of years. It doesn't get a whole lot braver than that.

In Christian symbolism specifically, the lion represents Christ. (He's referred to in the book of Revelation as the "lion of Judah" because the heraldic symbol for the tribe of Judah was a lion and Jesus was said to be from the tribe of Judah because his [step]father Joseph was from Judah.)

Normally when a story draws a parallel between a character and Christ, the parallel is one of self-sacrifice. That's not what's happening here. When symbolism for Christ represents his self-sacrifice, Jesus is invariably associated with a lamb--the sacrificial lamb--not a lion. When that symbolism represents Christ's mercy or holiness or divine nature/ordination, the dove of the Holy Spirit is used.

But the lion is a symbol inherited from the Old Testament. It represents royalty, power, threat, and seizure from others by force. Jesus is symbolically depicted as the lion upon his return to Earth during the book of Revelation. The lamb is Jesus' self-sacrifice and death for the sins of humanity, but the lion is Jesus' return, powerful, royal, and triumphant.

Does Aziraphale's ring foreshadow his involvement in the Second Coming of Christ? Probably! Is it a symbol that Heaven is the proverbial (and biblical) "lions' den" where they should be doves and lambs? Maybe.

I think it more likely that Aziraphale himself will be the lion, on a righteous rampage like Jesus chasing the moneylenders from the steps of the temple, telling them "It is written, My house shall be called the house of prayer; but ye have made it a den of thieves." Because the ring is a signet ring, meant to impress a seal that legally represented the wearer as an individual. So the lion is linked to Aziraphale himself.

Aziraphale is soft. It is one of his very best qualities. And soft and weak are not the same thing: because he is soft, he tried to kill the Antichrist, a child. Because he is soft, he stood alone before a demon in defiance of the will of Heaven and demanded with no power whatsoever to back him up that the demon spare children whose murder God had authorized. He, an angel of God, worked with a demon to deceive the Heavenly Host and, as he points out himself, thwart the will of God. Even before that, because he was soft, Aziraphale gave humans the gift of fire and self-protection and then lied to God Herself about it. I mean it literally does not get any more courageous than that.

And I can't stop thinking about what that lion, and that softness, and the link between the two is going to mean for S3.

[sad-eyed-lady-of-the-paperbacks]

Ok I should do an actual thoughtful post on this but instead I’m just gonna go off on a ramble. (I’m not a historian or a financial expert btw)

So I have always been interested in the discrepancy between Mitya’s assertion to Alyosha near the beginning that Grushenka “liked to make a bit of dough and made it by lending at wicked rates of interest, the cunning vixen, the rogue, without mercy.” (McDuff translation 1.3.5) and the narrator’s assertion in 3.7.3 “Not that she ever lent money on interest”. At first I chalked it up to Mitya just making assumptions about her, since he does say some things that are incorrect (for instance that Samsonov will leave her a considerable sum of money when he dies, when it is well known that he said he wouldn’t and, sure enough, did not even mention her in the will). However, I did think it was odd that a profit-motivated professional moneylender would never lend money on interest, and it feels even more odd now that I know there was a legal annual interest limit (6%). If it was legal to lend on interest, why wouldn’t she?

Well. I’m now reading the very fascinating Bankrupts and Usurers of Imperial Russia: Debt, Property, and the Law in the Age of Dostoevsky and Tolstoy by Sergei Antonov. And it’s fascinating getting context on all of this—and, bear in mind, context that Dostoevsky’s audience would have taken for granted.

There were a lot of regulatory laws that existed around moneylending and debt collecting, as usury was extremely frowned-upon legally, religiously, and socially. But these laws were very difficult to enforce, especially since moneylenders had all kinds of ways of skirting around them and hiding their more predatory practises. Besides, according to the above-mentioned reference work, “even at the highest levels the government realized that it was both impossible and undesirable to eliminate interest rates that exceeded the legally mandated maximum.” So, Antonov goes on to relate:

For example, an 1861 memo prepared by one of the tsar’s closest aides and a general in the Corps of Gendarmes, Ivan Annenkov, recognized that usurers in Russia enjoyed “complete immunity” but urged that “we must not [condemn as usurers] all persons who loan money for interest, even if under private agreements such interest would exceed the limit defined by the law. Everybody knows that no one has so far placed his capital in private hands in return for the legal 6% . . . [government’s policies] must not touch upon those private obligations and conditions that are founded upon mutual benefit.” Annenkov proposed a systematic procedure of identifying as many individual lenders as possible and then focusing on those known to engage in particularly abusive practices.

So this guy was like “yeah, even though what they’re doing is technically not legal, we kind of agree with it actually, and so instead of going after people based on the letter of the law, let’s just keep an eye on known moneylenders and go after the ones who are really crossing the line and hurting people.

Which meant that the police did keep detailed records of known moneylenders, and to the shock of absolutely no one, the notes beside the names in these records were heavily interested in the personal character of each lender. Political leanings, religion, whether they had a family, whether they were landowners, their morals and conduct, etc. I’m sure none of this led to any kind of discrimination in terms of who was allowed to get away with predatory moneylending practises and who was prosecuted for the very same. (Heavy sarcasm) 

Since Grushenka did not have a powerful family behind her and was widely known to be a fallen woman and Kuzma Samsonov’s mistress (despite the fact that she was definitively known not to be promiscuous and to reject the advances of any other men who tried it), it’s very likely to me that she would be under special scrutiny, especially in a small town where there weren’t as many moneylenders to keep an eye on as there were in, say, St. Petersburg. Given that she received a lot of business advice from Samsonov, and some of this advice might very likely have included those methods of getting away with practises of dubious legality without leaving a paper trail, and given the necessity of her being extra careful in order not to be prosecuted, it would make sense that the narrator (being himself a character and resident of the town, and thus only able to report things to us based on the information he has available and how it appears to him,) would not have any information or records available to him which would suggest that she was lending on interest at all, let alone above the legal rates. Given the strong negative feelings against usury, making such an accusation or implication without evidence would be highly slanderous, and the narrator would be unwise to risk that, thus his statement that Grushenka did not lend on interest at all.

Whereas it is possible that, given Mitya’s close association with Grushenka during the past month and the fact that she does confide some things in him (her feelings about Alyosha, letting him read the letter her officer sent, laughing about Fyodor’s scheme to have him jailed, etc.), he may have known something the narrator didn’t. Of course, it’s also possible that he was just making an assumption that happened to be correct, or at least more plausible than the narrator’s.

And I think that Dostoevsky meant for the narrator’s assertion that she never lent on interest to seem highly improbable, even implausible, given that his audience would have been very familiar with the widespread business of moneylending across all classes of society, and how it operated. Again, if there was a legal maximum interest rate, and plentiful ways to get away with illegally lending above that maximum rate, then why would a professional moneylender consistently lend money on no interest at all? She would at the very least be lending on legal rates to make a profit off of the interest, and more than likely at illegal rates as well, simply taking care to do so covertly. And I think the original audience would have understood this implicitly.

Hope this was somewhat coherent.

[charminglygrouped]

Town and Country

Fandom: Pride and Prejudice Words: 32,949 and counting Status: WIP Pairings: Elizabeth Bennet/Fitzwilliam Darcy; Jane Bennet/Charles Bingley (background) Rating: General Audiences Setting: Regency

Summary: Elizabeth Bennet is South Asian.

Sample:

When an Englishman desires activity, inactivity, change, stasis, simplicity, intricacy, strangeness, familiarity, or the pleasure of managing, of not managing, or of having his own way, he will look—very naturally—to India. However little calculated that land, in itself, may be to fulfill these little caprices, its ideal is so fixed in his mind, that he is sure to find something within the stores of its ancient civilisation to answer to his notions.

Such was the case with Mr. Edward Bennet. The second son of a minor country squire, he was faced, at his majority, with the necessity of fixing upon some course, which would enable him to make his own way in the world. From a scholarly bent, which gave him a good deal of inborn curiosity; and because the idleness of habits, which he had heard to be common in the East, attracted him more than the manly rigour required for the practice of the legal or ecclesiastical professions in England; from these reasons, and perhaps still others, he left a country happily enlightened by sound philosophy, and the only true revelation, for one burdened with superstition and gross idolatry: he joined, in short, in the service of the East India Company at Bombay, soon after it was ceded to the English, and before he had attained his sixteenth year. Once his innate indolence had overcome the exigencies of the journey thither, it was not often further disturbed by any requirements of his post. His work as a writer for the Company kept him largely within its settlements in the western part of the state of Hindoostan; on the rare occasions when he left Bombay, it was only for Chaul or Bassein.

Mr. Edward Bennet had always intended to marry upon returning to his native England, when his contributions of learning to the Company would have earned him an independence. He was yet in India, however, when he was nearing forty; he grew increasingly susceptible to beauty, and ripe for picking; he was caught at last by a girl with gentle manners, a generous dowry, and remarkable beauty (so far as we can reconcile beauty with the olive complexion). She was the daughter of a Mahomedan merchant and moneylender, who had much to do with the India Company, and was very pleased to furnish one of its votaries with this his most precious good.

[stephensmithuk]

Shoscombe Old Place

The final Holmes story published by Arthur Conan Doyle in 1927, this forms part of Case-Book. Doyle would write a number of other works, including two Professor Challenger stories, before his death in July 1930.

This was originally trailed as "The Adventure of the Black Spaniel".

Newmarket Heath is the sight of Newmarket Racecourse, one of the most prominent horse racing venues in the UK. Therefore, this was a rather public horsewhipping. I am pretty sure that the Jockey Club, which regulated the sport until 2006, would have a thing or two to say about actual bodily harm.

The Grand National takes place at Aintree every year and is the most famous steeplechase race in Europe; even those don't normally bet will take part, either directly or via a sweepstake.

The race has become controversial due to many horses being fatally injured when falling, frequently at the steep drop of Becher's Brook, and then euthanised over the years; various changes have been made to try to make things safer. There have been five horse deaths since the 2012 changes from 595 runners; you are fully entitled to think five is five too many. 2023 saw Animal Rising protestors attempt to stop the race and cause a delay; Hill Sixteen ended up dying, with his trainer blaming the protestors for spooking the horses.

"The Derby" refers to the Epsom Derby, held every year on the first Saturday of June. It is the flat race with the highest prize in British horse racing, with a first prize of £885,781.84 in 2023, when Ryan Moore won it riding Auguste Rodin.

"The Jews" refers to moneylenders, the stereotypical profession that Jewish people practiced. Most Jews by 1902 did not of course.

"Halt-on-demand" stations are those where passengers have to request the train stops there either via informing the guard in advance if getting off, or by other methods if getting on, like holding your arm out for a bus, although electronic methods are in increasing use. Great Britain has around 135 of them.

Historically fishing was a major source of food for poorer rural families. From 1865, you needed a licence for salmon and trout fishing, although not for other fish. The rod licence's provisions were expanded over time to prevent overfishing and you now need a licence, as well as permission of the property owner, for most fishing in England and Wales. Not in most of Scotland and Northern Ireland though. There will also be restrictions on what you can keep (which has caused issues with foreign anglers who generally don't operate on the 'put it back' principle) and the whole angling business is now pretty heavily regulated. Fish without a licence and you can be on the hook for a fine of up to £2,500.

It is a legal requirement to register a death within five days in England and Wales. There is also a separate offence of preventing a lawful and decent burial, which has a maximum penalty of life imprisonment, but it is fairly rare for someone to be charged with it unless as part of a homicide case.

[fate-motif]

what i want more than anything from a saw movie that would be new and exciting would be to talk about what jigsaw’s legacy has done to the people of the city.

saw’s always been partially a police procedural and it’s easy to understand why. cops have the guns and the legal framework to try and take down a serial killer. and it’s had very interesting conversations about what cops are actually like at their jobs, from the very start. but then we got to spiral and spiral tried to tell us what the first seven movies showed us (cops are only good at bullying vulnerable people and are cruel, self-righteous judgmental bastards who can’t save anyone). and then i wondered what other people dealing with jigsaw would look like. whether it’s, idk, a criminal organization or a gang or just a group of neighbors that’s banded together in fear, i want to see what other people do reacting to jigsaw. that’s actually one of the many reasons 3D compels me so badly in concept, because we talk about the survivors and how they feel, and what other people talk about when they talk about jigsaw.

do they live in fear of doing something wrong because then a creep will tie you to a bonkers contraption to mutilate or kill you in retaliation? do people see the worse victims, the murderers and the cops and the health insurance execs and the moneylenders, and see punitive justice done right? why the hell are so many people asking “but did you learn your lesson”? why is their society (and ours) so obsessed with trying to fit jigsaw’s horrific crimes into his own twisted and hypocritical ideological terms instead of just seeing it as what it is—a serial killing spree?

[todaysjewishholiday]

27 Tammuz 5784 (1-2 August 2024)

The centuries of the crusades were brutal for the Jewish population of Christian Europe, as both the Catholic Church and civil government whipped up a frenzy of xenophobia and antisemitism to promote their so-called holy wars in eretz yisroel and surrounding lands. Many of the central myths of European antisemitism, from that of the Jewish moneylender to the blood libel were developed in this era, and Christian monarchies often sought to fill their treasuries and boost their popularity and their favor with the church by forcibly expelling Jewish residents and seizing their property. When Jews were permitted to settle it was under onerous restrictions and exploitative taxation.

Between 4958 and 5155, the Jews of France were forcibly expelled four times, with the third expulsion taking place on the 27th of Tammuz 5082.

The first expulsion was announced near Pesach, and went into effect on the 24th of Tammuz 4958. The crown seized Jewish property and converted Frances’s synagogues into Catholic churches. When Jews were permitted to return, it was as serfs of the crown, with incredibly limited legal rights and freedom of movement. Despite Jewish moneylending (which was the result of legal prohibitions on Jewish involvement in numerous other trades) forming one of the French crown’s claimed justifications for their expulsion, the restrictions based on Jewish return to France even more deeply restricted Jews from engaging in other professions and very clearly tied their permission to return to the crown’s ability to extort revenue from Jewish banking activity.

While suffering significant discrimination, the Jews of France were at least not forced into exile for just over a century following their return from exile in 4958. Then, in 5066, the king of France ordered the entire Jewish population arrested and expelled on the 10th of Av. This was again a blatant cash-grab. Not only did the royal treasury once again seize Jewish property upon their expulsion, the crown claimed the right to collect all outstanding debts owed by his other subjects to Jewish moneylenders, insisting on repayment of loans that had been made by the very people he had forced out of his realm. A year later, he would repeat this successful strategy of extortion against the Knights Templar, arresting them on charges every bit as spurious as those he had leveled against his Jewish subjects and seizing the order’s wealth to fill his coffers.

This time the exile of the Jews lasted only nine years before another monarch, desperate for loans, allowed the Jews of France to return. But the return lasted only seven years before the third expulsion on the 27th of Tammuz 5082. The fourth expulsion, in 5155, was maintained for over two hundred years.

Now, France has the third largest Jewish population in the world, after Israel and the United States. But the legacy of antisemitism remains. French gentiles have not fully reckoned with the ways in which antisemitism still shapes French society.

The 27th of Tammuz this year is also Erev Shabbat. Shabbat HaMalka will join us eighteen minutes prior to sunset as we light the candles and welcome her. May you feel the peace of Shabbat.

[mellowchouchou]

Regina Spektor - Pound of Flesh Live at Bull Moose (2005)

context for this brilliant song:

In Shakespeare’s play The Merchant of Venice, Shylock is a Jew and moneylender in Venice who agrees to lend a sum of money to his enemy the merchant Antonio, a Christian and antisemite who has spat at, insulted, and humiliated him on dozens of occasions in the past - with the caveat of demanding a pound of his flesh as security on the loan. After his merchant ships are reported lost in a storm, the now-bankrupt Antonio defaults on the loan, and Shylock, adamant on claiming his revenge, pursues obtaining his pound of flesh in a legal court. The heroine of the play, Portia, points out that Antonio agreed to give up a pound of his flesh, but not his blood, and Shylock cannot gain his pound of flesh without drawing blood, something his contract does not allow for. Thus Shylock’s revenge is thwarted, and for his “villainy” he is punished with giving up his wealth and his forced conversion to Christianity. Although his motives stem from the very human feelings of humiliation and vengeance, his dogged pursuit of revenge has been held up as supporting racist views of Jews as greedy and vicious. The “pound of flesh” has become a famous phrase in culture as meaning any unnecessarily painful punishment or condition in a contract.

Ezra Pound was a Christian early-20th century poet who was a major figure in early modernist poetry. He was also violently antisemitic, and a fascist collaborator in Italy during WWII. During the war and the Holocaust in Italy, he made hundreds of paid radio broadcasts for the Italian government attacking the United States, Franklin D. Roosevelt, Great Britain, international finance, munitions makers and mongers, and Jews, among others, as causes, abettors and prolongers of the world war, as a result of which he was arrested in 1945 by American forces in Italy on charges of treason. Deemed unfit to stand trial, he was incarcerated in St. Elizabeths psychiatric hospital in Washington, D.C., for over 12 years. After a campaign by fellow writers, he was released in 1958, and lived in Italy until his death in 1972. His work remains controversial for his political and economic views.

In the song, a purgatorial, phantasmal Ezra Pound appears to the unnamed singer as a skeleton sitting on their bed, asking the singer to spare a pound of their flesh to cover his bared bones. This imagery, of an antisemite using the words of a (fictional) Jew, turns the famous phrase on its head and transforms its meaning into a powerful indictment of antisemitism through the concept of post-mortem spiritual torment and poetic justice.

Regina Spektor is a Jew of Russian heritage, and has tackled antisemitism in several of her songs, including “Pound of Flesh” and “Ink Stains”.

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[intern-seraph]

Hello. I hope you don't mind me asking. There aren't many Jewish people in my country and there never have been. I know very little of Jewish people and so do most of my countrymen. Because of the recent events I have had this, not even a conversation, just an offhanded remark, many times with many people: Why is it that the Jewish people are so hated? Why do so many people hate you? We genuinely don't understand or know. We have no hate for you, you are just people we don't know much about and don't really think about. Of course, we know about the holocaust and all that, but where does all this hate originate from? I'm honesty and genuinely confused. I'm really sorry that so many people hate you. I wish it weren't so.

<3 The confusion is understandable, and the answer likely won't help clarify much, because it's rather, uh, depressing. The following is a cursory summary of what, to my knowledge, are in the roots of antisemitism in its various waves and forms. This is the Wikipedia page on the history of antisemitism — yes, Wikipedia isn't the most reliable, but they cite their sources and this page has links to more detailed pages on antisemitism in specific regions and time periods— if you want to get in the dirt of it all. There are some parts I disagree with re: some of the descriptions of "New antisemitism", but the purpose of the page is to document it as an idea, not as an endorsement or as approval.

There is no reason, at least nothing actually rational or defensible (which is the nature of bigotry: it's irrational). It's because we're inconvenient (we're in the way, we're in the wrong place, we've become too successful where we live. which ties into...), we refuse to assimilate (we have maintained our traditions for thousands of years without giving in to larger cultural pressures to blend in, and thus disappear as a people), we were legally forced into certain roles that made us targets (the greedy Jew stereotype can be traced back to and was reinforced by Jews only being allowed to work as moneylenders and other money-related jobs considered "unsuitable" for Christians in Europe). Early antisemitism, back in the classical era, was ethnic. After Christianity, religious (but this cannot, of course, be separated from Jews being seen as a separate people (if people at all), so there was definitely ethnic components as well). When secularism started catching on, they latched on to more of the nonreligious canards ("Jews run the world", "Jews control the money", etc), but still linked Jewishness to being demons. Eventually it became racial (Jews weren't white or black but something Else (and certainly not full humans)).

These all still factor in to modern antisemitism — you've no doubt seen Zionist Occupied Government-type canards recently or accusations of (((Zionists))) running Hollywood or the banks or what-have you, most Jews have some story of being asked by a gentile "Where are your horns?", and you'd be hard-pressed to find a white supremacist who actually thinks Jews are white (they don't think we're human, really). Something consistent you'll see is the belief that Jews are foreigners no matter how long they've lived somewhere — before WWII, Jews in Europe were often told to "go back to Palestine", in fact. You can find photos of graffiti saying this exact phrase dating back to then. Those Jewish communities had been there for centuries by that point, and they considered these countries their homes. The feeling was not, of course, mutual.

I also hope that things change. Maybe one day, we'll be able to tell our children that this was the past, and now we are safe rather than safer. One can only hope.

[linalavender]

Been Playing some Great Ace Attorney for abit, and Im still amazed that the writing doesnt shy away from the discrimination of the time. Van Zieks is constantly dismissive of his "Learned Nipponese friend" and constantly scoffs at how supposedly Far behind Nippon's Legal system is, Magnus McGilded is referred to by literal Irish slurs, and also basically called a Jew by Van Zieks? (He uses the term Shylock, derived from the Play by the same name from Shakespeare, Shylock is a Jewish Moneylender, He claims "Shylocks have the darkest of souls. This is also a referrence to how Magnus is a Loanshark ofcourse but its still kinda ascoiated with Jewish people.) Soseki is called shifty and constantly called into question about his trustworthyness.

Its pretty interesting to me. Im sure they toned it down but Im suprised this aspect isnt ignored entirely. Victorian London cant have been that welcoming and its reflected in the writing.

[eaglesnick]

Is Capitalism Working: Landowners (1)

When I asked the question,  “Is capitalism working?" (see last post) I quoted Kate Raworth’s definition of capitalism wherein it is argued that our present economic system is designed to provide profit for the already wealthy – shareholders, landowners and moneylenders. It is certainly true that increases in share price and dividends are not matched by an equal increase in workers pay: shareholders increase their wealth at the expense of ordinary working people. Similarly, we can check if landowners and landlords have seen an increase in their wealth compared to the rest of us.

The whole question of land ownership and associated wealth is a complicated one, not least because landowners have been very good at hiding their assets, and therefore their wealth and income. An additional problem is that there are different types of landowner. Today I am going to deal with the aristocracy and gentry.

The aristocracy and gentry, relics of Britain’s feudal past, still own 30% of Britain’s land. Much of this is agricultural land and until we left the EU they received taxpayers money in the form of farming subsidies, based not on need but on the size of their land holdings. Under this scheme the aristocracy and landed gentry have received tens of millions of pounds of taxpayers money.   This has helped them double their wealth over recent years.

“Britain’s 600 aristocratic families have doubled their wealth in the last decade and are as ‘wealthy as at the height of Empire’” (inews: 19/07/19)

One reason their wealth has increased is because

Countless peers with major landholdings and stately homes have put all their assets into discretionary trusts, thereby evading both public scrutiny and inheritance tax." Guardian: 07/09/17)

In addition

 “The asset-owning super-rich to the extent that they include the aristocracy would appear to have benefited during the period after the financial crisis from factors such as quantitative easing which allowed them to use those assets to secure mortgages and debts to buy further assets.” (Inews.co: 19/07/19)

Put simply, quantitative easing (QE), the governments preferred way out of the financial crash of 2008, saw a massive increase in the money supply, which in turn saw a massive rise in wealth for the already wealthy. QE led directly to asset price inflation. In short the landowning aristocracy and gentry saw the value of their land rise and rise.

“QE…increases the prices of things such as shares and property”  (BBC News: 01/11/22)

Consequently, as the majority of the UK population saw a fall in their living standards and wages due to Tory austerity,  the aristocracy and landed gentry saw their wealth increase.

At this point it is important to note that the aristocracy have the legal right to sit in the House of Lords. They are not voted in. They represent no one but themselves, yet they are a powerful influence on the laws of this country. It is therefore inconceivable that the laws they influence do not profit them in some way.

One law in particular springs to mind.

“One legal provision unique to England and Wales has been of particular importance to these aristocratic landlords: over the centuries they built many millions of houses, mansion blocks and flats, which they sold on a leasehold rather than freehold basis. This meant that purchasers are not buying the property outright, but merely a time-limited interest in it, so even the “owners” of multimillion-pound residences have to pay ground rent to the owner of the freehold, to whom the property reverts when their leases (which in some areas of central London are for no more than 35 years) run out. This is unearned income par excellence.” (Chris Bryant, Guardian, 07.09.17)

Another use they make of the laws they themselves influence is the avoidance of inheritance tax. Quoting Chris Bryant again

The primary means of squirrelling away substantial assets so as to preserve them intact and deliver a healthy income for aristocratic descendants without bothering the taxman is the trust. Countless peers with major landholdings and stately homes have put all their assets into discretionary trusts, thereby evading both public scrutiny and inheritance tax.”

In conclusion, the evidence shows that certainly over the last 15 years, as the majority of working people have became poorer, the aristocracy and landed gentry have become steadily richer. This fits Kate Raworth’s definition of capitalism, not only because it sees the already wealthy making even more money at the expense of the rest of us, but it also demonstrates how they influence the legal and political system to secure and reproduce their already privilege position within society. 

[theankoletimes]

Interest Rates for Moneylenders Capped at 2.8% Per Month

(Kampala) – The Ugandan government has set a maximum interest rate for moneylenders to curb exploitative practices targeting individuals in financial distress. Finance Minister Matia Kasaija announced the new interest rate cap of 2.8% per month, equivalent to 33.6% annually, through a legal notice published on November 15, 2024. The measure is part of efforts to regulate the moneylending sector…

[darkmaga-returns]

Europeans been spendin’ most their lives livin’ in the banksta’s paradise

Alex Krainer

Oct 27, 2024

European Union’s eventual collapse is a certainty - it has been for a very long time. It’s been rigged for demolition through its financial architecture which institutionalizes a system of governance that’s typical of all historical eras where moneylending oligarchies gained the control of the political system. The predictable result of all this is that European economies are floundering: their entrepreneurial dynamism and competitiveness is being systematically suffocated and slowly consumed by the parasitic leech hidden behind the EU bureaucratic institutions. For the ordinary people and businesses, this system is driving a steady, inexorable descent into poverty.

European Stability Mechanism

One of the main components of Europe’s pathological financial architecture is the European Stability Mechanism (ESM): Eurozone’s permanent bailout fund. The ESM is not exactly a household name, but you can really think of it as a monstrous vampire leech attached to Europe’s economy.

The treaty establishing the ESM is an astonishing legal concoction which established a limitless, institutional conveyor belt of bailout funds from the European taxpayer, ultimately to the banking cartel. ESM’s capital was supposedly limited to €500 million (in some documents it says €700 million), but the Treaty sets no limits on the obligations imposed on European taxpayers, no room for negotiation, no legal recourse.

As drafted, the ESM Treaty was a violation of the EU Treaty (Treaty on the Functioning of the European Union) as well as constitutions and/or laws of EU member states as it restricts each member nation’s fiscal sovereignty. Ratifying it necessitated a dismayingly convoluted process of amending the EU treaty and circumventing member states’ domestic laws.

[homeloansguide101]

What is a Mortgage? Know the Basics of Mortgage Loan

In life, we experience certain situations, from where we cannot avoid some expenses. A number of these expenses include business expansion, marriage, medical emergencies, or education. One such solution to satisfy these needs would be to avail of a Mortgage loan. It is a secured loan. A borrower must mortgage a property with the lender to avail this sort of loan against the property. The collateral is held by the lender until full repayment of the loan is completed. Borrowers repay the loan in fixed monthly payments called equated monthly installments (EMIs).

What is a Mortgage Loan?

It is just a loan against a property that you simply own. The property in question might be your house, a shop, or maybe a non-agricultural piece of land. Banks and non-banking finance companies offer this. The lender provides you the principal loan amount and charges you an interest thereon. You’ll repay the loan in affordable monthly installments. Your property is your guarantee and it stays in possession of the lender until the loan is repaid fully. As such, the lender features a legal claim over the property for the tenure of the loan, and if the borrower defaults in paying off the loan, the lender has the right to seize it and auction it off.

Types:

There are various forms of mortgages:

Simple Mortgage: In such type, the borrower must sign an agreement stating that if he/she is unable to pay back the borrowed amount in a specified time duration, then the lender can sell the property to anyone to get a refund

Mortgage by Conditional Sale: Under it, the lender can put a particular number of conditions that the borrower must follow in terms of repayment. These conditions may include the sale of the property if there’s a delay within the monthly installments, a rise within the rate of interest due to delay in repayment, etc.

English Mortgage: In this, the borrower has got to transfer the property within the name of the lender at the time of taking money, at a condition that the property would be transferred back to the borrower once the entire amount is paid back

Fixed-Rate Mortgage: When the lender assures the borrower that the rate of interest will remain an equivalent throughout the loan period is named Fixed-Rate Mortgage

Usufructuary Mortgage: this type of mortgage gives a benefit to the lender. The lender has the proper over the property for the due course of the loan period, he can put the property on rent or use it for other purposes until the repayment of the quantity. But the most rights lie with the owner himself

Anomalous Mortgage: a mixture of various sorts of mortgages is named an Anomalous Mortgage

Reverse Mortgage: during this case, the lender lends money to the borrower on a monthly basis. The whole loan amount is split into installments and therefore the lender gives the borrower that money in installments

Equitable Mortgage: during this sort of mortgage, the title deeds of the property are given to the lender. This is often a standard phenomenon within the banking mortgage loans. It is done to secure the property

What is the Mortgage Agreement?

A mortgage loan agreement sets the conditions of the agreement between a bank and a borrower. When marked, the agreement gives the borrower access to the money. Such an agreement also gives the moneylender the right to claim the sold property if the borrower doesn’t pay the loan’s installments.

Importance:

Buying a house is probably going to be the greatest purchase you’ll ever make and a home loan will be your biggest obligation. Since you can spread the repayments on your home loan over many years, the amount you’ll repay each month is more reasonable and affordable!

When individuals take out their first loan, they usually select a long term. However, there are no guidelines about this and as we are living longer and the retirement age is going up, a 30-year mortgage is getting more normal. This can help cut your monthly payments down, yet on the other side, you’ll be burdened with the obligation for more.

It worth going for the briefest term you can afford – not only will you be mortgage-free sooner but you’ll also spare yourself a huge number of pounds in interest. Also, remember, when you remortgage and change to another product, you shouldn’t settle on another 25 or long term.

[carlimuja]

A Guide to Applying for a Fast Cash Loan in Singapore

Fast access to money is necessary because financial emergencies can happen at any time in today's hectic environment. For such circumstances, fast cash loans provide a practical answer. This tutorial offers a thorough rundown of the procedures involved in applying for a fast cash loan in Singapore, along with important points to keep in mind to make the process go well.

Fast Cash Loans

Fast cash loans, also known as quick loans, are short-term loans designed to provide borrowers with immediate access to funds. These loans are ideal for covering urgent expenses such as medical bills, car repairs, or other unforeseen financial needs. The primary appeal of fast cash loans is their quick processing time and straightforward application process, which often results in instant loan approval.

Evaluating Your Financial Needs

Before applying for a fast cash loan in Singapore, it's crucial to evaluate your financial situation and determine the exact amount you need. Borrow only what you can afford to repay comfortably within the loan's tenure. Assessing your financial needs accurately helps prevent over-borrowing and ensures that you use the loan for its intended purpose.

Researching Loan Providers

The next step is to research various fast loan Singapore providers. Look for licensed moneylenders regulated by the Ministry of Law, ensuring they adhere to legal lending practices and interest rate caps. Compare different lenders based on their interest rates, fees, repayment terms, and customer reviews. This research will help you identify reputable lenders who offer favourable loan terms.

Understanding the Terms and Conditions

Carefully review the terms and conditions of the fast cash loan before proceeding with the application. Pay attention to the interest rates, repayment schedule, late payment penalties, and any additional fees that may apply. Understanding these details is essential to avoid any surprises or hidden costs down the line. Ensure that the loan terms align with your financial capability to make timely repayments.

Preparing the Required Documentation

To expedite the loan application process, gather all necessary documentation beforehand. Typically, you will need to provide identification proof, proof of income (such as payslips or bank statements), and proof of residence. Having these documents ready will facilitate a quicker and smoother application, increasing your chances of instant loan approval.

Submitting the Loan Application

Once you have selected a reputable lender and prepared your documentation, you can proceed to submit your quick loan application. Most lenders offer online application platforms, allowing you to complete the process from the comfort of your home. Fill out the application form accurately, ensuring all information provided is correct and up to date. Double-check for any errors or missing details before submission.

Awaiting Loan Approval

After submitting your application, the lender will review your details and perform necessary credit checks. Thanks to technological advancements, many lenders can provide instant loan approval, with decisions made within minutes or hours. Stay accessible via phone or email in case the lender needs to contact you for additional information or verification.

Receiving the Loan Disbursement

Upon approval, the lender will disburse the loan amount directly to your bank account. The time frame for disbursement varies by lender, but in many cases, you can receive the funds on the same day or within 24 hours. Ensure you monitor your bank account to confirm the receipt of the funds and promptly address any discrepancies with the lender.

Managing Loan Repayments

Managing your loan repayments responsibly is critical to maintaining financial stability and avoiding additional fees. Set up reminders or automatic payments to ensure you make timely repayments according to the agreed schedule. If you anticipate difficulty in meeting a repayment, communicate with your lender proactively to discuss possible solutions or adjustments to your repayment plan.

Evaluating Your Experience

After repaying your loan, take the time to evaluate your overall experience with the fast cash loan process. Consider factors such as the lender's customer service, the transparency of the loan terms, and the ease of the application process. Reflecting on your experience can help you make better-informed decisions for future borrowing needs.

In conclusion, applying for a fast cash loan in Singapore requires careful planning and informed decision-making. By understanding your financial needs, researching reputable lenders, comprehensively reviewing loan terms, and managing repayments responsibly, you can navigate the loan application process smoothly and benefit from quick financial relief when needed. Always prioritise transparency, regulatory compliance, and responsible borrowing to ensure a positive experience with fast cash loans.

Contact Shenton Credit today for quick and reliable cash loan solutions tailored to your financial needs.