Quote:
Originally Posted by blankall
To be honest, I don't think it would have been such a big deal in the serf system though. The vast majority of people would have no reason to get a loan since there was zero possibility of ever owning anything.
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In those days the people who needed loans were the barons & kings to pay soldiers. Sure, kings could tax, but that could cost you allies. As a king, your soldiers want to be paid, borrow cash from Jews. Find you can't pay them back (regardless of the interest), then just kick them out of your country (happened a lot).
Historically Jews couldn't own property and thrived in "cash" businesses - tailors, cobblers, merchants. This also allowed Jews to keep their wealth liquid and transferable (hence lots of Jews in the diamond industry) for when they got kicked out of countries.