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secular humanism
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Dear Grim,
That is not quite accurate. In 1123 at the Lateran Council the Catholic bishops decided that Christians could not lend each other money. They had done so previously. Slightly earlier the medieval guilds arose excluding Jews so there were no more Jewish goldsmiths, silversmiths and glass-blowers which were Jewish trades up to that time. Jews were also excluded by the Lateran Councils from owning land, holding office, and from being doctors and lawyers.
The money lenders were the support of the Jewish community which was impoverished by its exclusion from other trades. At that time Jews became the only money lenders in Christian Europe. The bishops knew that you have to charge interest to have banking, and you had to have banking to have economic development, otherwise there is no growth and your economy stagnates. Someone had to lend money. That someone, the bishops decided, would be the Jews.
What happened next is that Jews were not allowed to live in various cities in Europe, unless they supplied a certain number of money-lenders. If the local nobleman or bishop decided not to pay the Jew back he'd accuse the Jew of doing something terrible -- like killing a Christian baby. That way he could renege on his loans, confiscate all Jewish property, and then expel or even kill the Jews. That is how Jews were expelled from England in 1290.
Some have claimed that it was Jewish money-lending practices that engendered such actions and, indeed, were responsible for a great deal of anti-Semitism. This is myth. Jews charged an average interest rate of between 33% and 43% on loans. This is high by today's standards, but the Lombards, the Christian Italian bankers living under the nose of the Vatican, charged rates as high as 250%. The Jewish money lending monopoly was a consequence rather than a cause of Christian Jew hatred.