Based on Russian law, Orthodox morals and Russian business traditions, the Orthodox Financial System is designed to be resilient to world crises and help reduce Russia's reliance on the Western banking system, the project's authors said.
The new system is not designed to replace traditional banking but to complement it, according to its authors.
The new financial system aims to incorporate respect for the law, charity, moderate consumption and quality goods and services that are safe for consumers' health, soul and the environment.
Other religions are welcome to participate within the Orthodox Financial System, on the condition that they follow these regulations.
Just like Islamic banking, the Orthodox Financial System does not allow service charges on loans. Participants of the system share risks, profits and losses. Speculative behavior is prohibited, as well as investments in gambling, drugs and other businesses that do not meet Orthodox Christian values.
Orthodox banking is made up of a low-risk credit organization that controls all transactions, and investment funds or companies that source investors and mediate project financing.
The authors claim that a low-risk credit organization will prove invulnerable given its avoidance of operations with active financial risks.
Priority is placed on ensuring financing of the real sector of the economy, according to Surmilo.
>The Orthodox Financial System was publicly unveiled by Chaplin in December [2014].
Does someone have a link to either the report in it's original language or, preferably, an English translation of the report?
Brayden Martin
People don't want a stable currency. They want inflation bubbles so that they can make money out of nothing. Look at what happened to Hitler after he kicked out the bankers and issued out his own stable currency that was backed by labor that benefited the country.
Why exactly would people invest in this currency when we can just invest it in index funds and watch it grow automatically. If we got rid of the federal reserve and the US dollar all together then I can see something like this orthodox currency being a good replacement, but that's not going to happen
Josiah Turner
>cathocucks and protestards will never ever have their own banks
Based Church. A true church wants its society to succeed.
Nicholas Clark
based orthodox from a muslim
Ethan Jackson
Its about bloody time, Is the Patriarch pushing for this?
Zachary Bailey
> What is KOM
Christian Powell
Lol, I guess if your stupid enough to believe in God you're likely to be an economic illiterate as well.
Parker Gutierrez
whats wrong with it economically?
Tyler Gutierrez
>Not into jewish banking rape of economies makes you economically illiterate.
Daniel White
k
Anthony Hughes
>no interest from loans Say goodbye to loans, they are not profitable and making one bad loan could destroy an institution. You're now back to a society where the only capital accumulation is from individuals saving for their own purposes.
Jonathan Walker
Give me secular banking plz.
Ryder Stewart
>no interest on loans How will this work??
Nathaniel Bennett
(((secular)))
Ethan Nelson
I don't know. I was hoping to read the report to find out.
Nathan Hernandez
Fees.
Jack Gutierrez
I'm quite interested despite being a Techno-Commercialist rather than a Theonomist. Competition is always good.
Robert Howard
Same as Muslim banking
No, there would be no fees.
Leo Johnson
>No, there would be no fees. Then how do banks and investors make money? What incentives are there to take a chance on a business?
It won't work through private investors, it's intended as a non-profit public service.
Jackson Walker
This has nothing to do with Marxism, it was always Church doctrine. It's not about everything being owned and managed by the state.
Gavin Jackson
I can't think of anything beside government and church coffers.
Maybe the Orthodox has enough dosh to act as a starter to show this can work, but I doubt it.
Ayden Roberts
> Participants of the system share risks, profits and losses. Speculative behavior is prohibited
So in extremely simple term basically the profit of one business that took the loan and was successful is responsible for the loss of money of a failed business from the loan. Which is why speculative behavior is a no no, because there could be potentially too much losses. Everyone has a vested interest in seeing that the loan is put to good use and the person made good use of the loan.
Joseph Barnes
>replace the state with the church >remove fees and interest >centralize the economy to a church inspector/controller >not the same Yeah what ever makes you sleep at night.
Oliver Smith
communism is just the satanic version of christianity at the end of the day
Evan Bennett
Church officials would inspect it to ensure it wasn't violating Orthodox guidelines, but it would be managed publicly. It's not just about businesses, it's also about providing loans for people to get houses with.
> (You) >State officials would inspect it to ensure it wasn't violating Socialist guidelines, but it would be managed publicly. It's not just about businesses, it's also about providing loans for people to get houses with. Yep. I know.. I know.. We had this too, but the atheist variant.
You can at least find comfort in that it Will work.... If people believe in it. But it will also damage the economy a bit.
Yep. Look at the kikes proposing this again.. In Russia. But now they use the love for their orthodox variant of kike death cult to lure them back into the dark age of communism.
It's working too! Holy fuck these people are good chess players.
Matthew Scott
How exactly does one share profits and not call it fees which is basically the same thing as interest on a loan?
You're forgetting that the Orthodox system being proposed isn't meant to replace the regular banking system.
So, the only way your doomsday thinking will come to pass is if the orthodox system actually works well enough to make most Russians switch to it and only then the system crashes and burns.
Cameron Johnson
Usury has been against Church rules for a couple of thousand years, it's nothing new. The credit system being the central focus of our economy, to the point that just getting by requires a credit rating, is relatively new though, and that's why it is being addressed.
Yeah, sure, Jews are behind a system that says Russia should leave the IMF
Juan Fisher
Profit-sharing in this case would mean just owning shares. In which case it wouldn't be a loan that had to be paid back, it would be selling part of the company for the investment. The return on that investment would be used to further invest as well as to provide interest-free loans on things like houses and small businesses. Whether or not a start-up qualified for a loan, or for an investment, would be determined by the Financial System based on factors like risk and market appeal.
James Lee
>You're forgetting that the Orthodox system being proposed isn't meant to replace the regular banking system. Only controlling it. I'm sure the regular banks really would like a priest to tell them what they should and shouldn't do. Unless that priest is extremely corrupt.. It seriously won't work.
It works with gov officials because the vast majority of them are ex-bus drivers and low educated shit people so they all tend to be corrupt.
But if the churxh is in any way serious about governing shit according to biblical texts and religious "should".. It won't last. Capitalism in it self is unbiblical and amoral.. That's why it has worked. You can't just remerchantilize everything after several years of free trade.
No. They are behind a system of centralized banking. They don't need the IMF if they are on both sides, it will be raw communism again. The church really only want more money with this, they need legislative power to " shut down " corporations that are "unethical" so they can get some of that sweet corruption money.
Meh.. Let's hope they do enact this. I have a feeling the oligarchs won't. I sure as hell wouldn't... You can't kill priests if they start asking for more... The people would get enraged.
Jackson Bell
>Orthodox morals Top kek
Asher Lopez
>to the point that just getting by requires a credit rating, is relatively new though W-w-was this what the Book of Revelations was talking about?
Revelation 13:16-17 The Mark of the Beast 16 And the second beast required all people small and great, rich and poor, free and slave, to receive a mark on their right hand or on their forehead, 17 so that no one could buy or sell unless he had the mark — the name of the beast or the number of its name.
Robert Williams
Russia should create it's own religion.
Fuck Orthodoxy, it's a dipshit religion.
Michael Sanders
Don't listen to them. They're money hungry kikes.
William Torres
Orthodox are state run so what for?
Alexander Hernandez
this thread should die.same as you. As a side note, in Russia there are links between secret sevices,politics and church.
Isaiah Hughes
>Only controlling it. You're reading too much into it. These are going to be separate organizations. If this one ever gets off the ground.
I don't see the head of the Russian state bank who's been entrusted by Putin with handling the economic impact of sanctions on Russia being told she has to have a priest watchdog breathing over her shoulder.
Nicholas Carter
No service charge. That's a cost on the loan and it's interest.
Levi Baker
there is no such thing as christian communism.Comunism is by default leftist atheist. Probably,christian religion would be used in this scenario as a way of propaganda, then would be removed.
Julian Smith
The achievements of Orthodoxy: * remove kebab * pay debnts * balkanization of every single country ever existed * claiming WE WUZ GREEKS AND ROMAN SHIT despite being shitskin
Yeah, dipshit religion. Russia should get rid of it, the same way they got rid of communism.
Zachary Wright
It only means the church if after more money through exploits and legislative power. Memes aside, do you think Putin is an honest anti-capitalist? I firmly believe, even he, would not endorse this because it literally means church control over politics and economics.
The very thing they struggled to shut down during the communist era. Putin (being ex KGB) if anyone should know what this attempt really is about.
And yes maybe I am reading too much into it.. But this is Russia, things tend to get a bit.. Extreme.
Yes it's a funny thing. But they motivate it with Christianity being the world's fist attempt at communism (which means a utopian community). And that Jesus' real message was about sharing and caring.. Etc.
Maybe it is propaganda, but it's probably very appealing to a hard core believer/world savior optimist complex.
Dominic Flores
BASED RUSSIA BASED PUTIN
FUCK THE IMF FUCK THE WTO
BURN IT DOWN! GAS THE KIKES! RACE. WAR. NOOOOOOOW!
Isaiah Rodriguez
Anti-capitalist Anti-communist*
Jason Sanders
the resemblance between christianity and communism was used as propaganda in Russia. theism and communism cannot coexist toghether.The chrsitian model is a spiritual one, not a financial one.
Ian Ross
And what are your achievements you useless wanker??
Nicholas Parker
Absolutely, but if the religion is used as a means of politics it doesn't become spiritual anymore. All the elements that Islamism has, Christianity can have too. Economically and socially through mosaic law.
This is a mere attempt at centralizing church influence and control. Chriatian communism and capitalism are really oxymorons, but the people will believe in it. Because it's all that it takes.
Asher Cruz
People liked the currency just fine, except the international kikes.
People would benefit enormously from a stable currency.
Xavier Watson
Of course they would but that's not going to happen because due to speculation all currencies eventually become backed by the US dollar.
Jackson Kelly
>that's not going to happen You don't know the future, nothing lasts forever you know.
China's already running their gold backed Yuan.
Dominic Brooks
>Gold backed Yeah, how redpilled of them. They're totally free from Jewish control
Jonathan Morales
Russia has LOTS of gold and the paper gold market (read kikes) is very fragile.
