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'''Usury''' is the fee, denominated in money, for the use (loan) of money. It is often considered to mean lending money at interest, but it also covers extending credit at interest. In has been modified by modern usage to mean the extraction of interest on a loan above the maximum rate permitted by statute.

'''Usury''' is the fee, denominated in money, for the use (loan) of money. It is often considered to mean lending money at interest, but it also covers extending credit at interest. In has been modified by modern usage to mean the extraction of interest on a loan above the maximum rate permitted by statute. However, long term usury is mathematically unsustainable in a finite money token system. Due to the exponential equation used to calculate compound interest, an infinite money supply is required. Short term usury is destructive, as well, since a portion of debtors must default because enough money never exists for all to repay their debt and interest. Gain from usury is also subject to an excise tax.

In the United States, most states have usury laws limiting interest rates. However, since 1933, only Federal Reserve Notes have circulated as current monies. By law, they are obligations to pay lawful money on demand (see Title 12 USC sec 411). But Congress repudiated that obligation in House Joint Resolution 192, June 1933, thus making said notes worthless (no par value).  

In the United States, most states have usury laws limiting interest rates. However, since 1933, only Federal Reserve Notes have circulated as current monies. By law, they are obligations to pay lawful money on demand (see Title 12 USC sec 411). But Congress repudiated that obligation in House Joint Resolution 192, June 1933, thus making said notes worthless (no par value).