Forecasting & truth?

Though previously scorned, in the hands of Bernoulli, the art of forecasting becomes ‘a branch of mathematics and of truth;

The Sin of Usury

The “Monti di Pietà” were charitable institutions that emerged in Italy during the Middle Ages, primarily to offer financial assistance to individuals in need, through the provision of low-interest loans secured by pawned goods. The first of such institutions was founded in Perugia in 1462. The concept was motivated by a desire to provide an ethical lending alternative to the usurious practices prevalent at the time, especially those conducted by moneylenders.

Monti di Pietà were a significant development in the history of banking and social welfare. They aimed to combat poverty and usury by providing a more humane lending service to the poor. Clients could pawn their belongings in exchange for loans at minimal interest rates, which were often used to cover basic needs or to get through difficult times until they could redeem their pawned items.

Over time, some of these institutions evolved into modern banks, while others continued their original charitable functions. The Monti di Pietà played a crucial role in the economic and social fabric of many Italian cities and had a profound impact on the development of ethical banking practices.