During the Renaissance, Jews were tolerated in Venice, Italy because they could provide an invaluable service which Christian financiers and merchants were forbidden to do which was to charge interest upon a loan, a concept referred to as “usury”, derived from the Latin term “usura” which means “use” or “interest”. Christians considered charging interest to be a sin and therefore could not partake in this economic exchange. Unfortunately, the Catholic Church’s Medieval laws against usury acted as a major obstacle for the development of finance within Europe during this period. Jews were not technically permitted to lend capital with interest, but those who did relied upon a convenient clause found within the 23rd chapter of Deuteronomy of the Christian Bible which states that lending to a brother at interest was forbidden but that a stranger was a different matter all together. These Jewish lenders interpreted this scripture as a means to provide the ability to lend to Christians, as Christian’s were not considered brothers of the Jews in a religious context during this period, but they would still not be capable of lending finance to other fellow Jews, as these members of society were viewed as brothers regardless of familial ties. Eventually Christian’s were able to circumvent the prohibition of charging interest, primarily because of Giovanni di Bicci de’ Medici, one of the wealthiest entrepreneurs within Italy during the Renaissance. Medici was able to evade Christian usury legislation as Jewish bankers did because of a clever device of trade which made profit upon exchanging multiple currencies rather than interest rates alone. No “interest” paid to Medici meant no sin had been committed. Medici’s business model took a small commission for each currency conversion rendered, with the size of the loan directly impacting the commission of the person who lent it
Piers Gaveston, a minor noble who engaged in a homosexual relationship with Edward II, may have been overlooked during the 13th century if it were not for the lavish gifts Edward II showered upon Gaveston. Gaveston was exiled from the realm by Edward I for referring to Edward II as his brother. When Edward I died, his son Edward II brought Gaveston back into his kingdom and provided him with money, gold, title, and land. This caused the whole of England to murmur behind closed doors, against the king. It was not so much the act of homosexuality which infuriated the barons, it was the man of whom Edward II fell in love with. The nobles drafted a list of grievances against Edward II referred to as “The Ordinances”. Gaveston eventually fled and was captured by the Scots. Gaveston was sentenced as an enemy of the state and was executed despite Edward II’s attempted intervention