[jdotjdot]

Some of the comments in the FAQ don't make any sense.

  Q: Why does Freicoin use demurrage? I'm worried that my coins will just fade away.
  A: Worried? It's a good thing. If the amount of money was stable, people would prefer saving it as opposed to spending it. This would decrease the quantity of money circulated, which in turn would act against the main purpose of money - a medium of exchange. With demurrage in place, you should think about money as it's meant to be, not as a storage medium of wealth.

This is quite an assertion--generally, money is taught to be both a store of value and a medium of exchange. What are you exchanging if there's no value in it?

There are also some really odd grammatical errors:

  Q: With a zero interest rate, investments will be impossible!
  A: It's already possible, for example, in Islam banking...

"Islam banking"?

[smnrchrds]

He means Islamic bank, which is basically a bank without riba. If you are interested you should look at wikipedia articles [1] and [2].

Funny thing is in Iran, which considers itself an Islamic country and says it follows Islamic laws in banking, interest rates are as high as 20%.

[1] http://en.wikipedia.org/wiki/Islamic_bank [2] http://en.wikipedia.org/wiki/Riba

[jdotjdot]

I knew what he meant about Islamic banking, was more commenting on the grammar.

Interest rates can be high (or exist at all) in Iran because legally it's not actually interest. I understand it to be some sort of equity arrangement legally where the interest is actually dividends. But for macro purposes, it's interest rates.

[rmc]

Fun fact: Charging interest used to be against Christian principles aswell. Instead people would borrow from Jews (who did charge interest). The Magna Carta (in England) has sections on what exactly happens if someone ones money to Jews and dies (for example).

[jdotjdot]

That's why usury was traditionally a Jewish profession in the Middle Ages--they were the only ones allowed to do it (and sometimes it was the only thing they were allowed to do).