Nobel Peace Prize for introducing interest economy

suchandra · October 13, 2006

Nobels Fredspris 2006

Nobel's Peace Prize 2006

Nobel Peace Prize (prize money 2 millions US dollars) for introducing interest economy in Bangladesh - interest rates of 15%? Hard to believe that this is the key for peace - lending money to the poorest of the poor against interest? What happens if someone, mainly families, can't repay, indebtedness increases due interest rate? In Vedic Civilization there's no such thing as payment of interest - people pay 20% taxes from what they produce and thats it, no freeloaders who make a fortune out of the hardship of the poor and even get awarded with a Nobel Price for Peace. Looks rather like a clever coup of the Wall Street finance sharks....

"Muhammad Yunus, "Banker to the Poor": Micro-Lending and the Battle Against World Poverty"

"Nobel Peace Prize, http://www.nobelpeacecenter.org/index.php?page=news&id=122 for Yunus's Grameen Bank has provided 3.8 billion dollars to 2.4 million families in rural Bangladesh, small micro-loans at interest rates of just 15%."

http://www.namaste-direct.org/"Today, more than 250 institutions in nearly 100 countries operate micro-credit programs based on the Grameen methodology, placing Grameen at the forefront of a burgeoning world movement toward eradicating poverty through micro-lending."

"The system gives the poor small loans to start up businesses."

http://english.aljazeera.net/NR/exeres/A809772E-ABCE-4988-9731-11A613692464.htm