Religion's Role in the Creation of the Banking System

[PepengAgimat]

Without getting into the history of religion, and speaking purely from an analytical perspective, the Roman civil law, as a base-model for commerce regulation, was developed out of necessity of the church to avoid political scrutiny for its handling of ever increasing amounts of precious metals. It had become a “‘storehouse’ for the money and property the people were persuaded to give in exchange for limited liability — go directly to heaven instead of hell. As the people became more educated and saw what was really behind the power of religion [in generating wealth], the Roman Church fell under greater and greater criticism. This led to the development of a banking system to handle and control church wealth and take the critical focus [away from the church.]”