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Case: One of my best students asked about the situation in which, in his youth, he would lend money with interest by using a heter iska (a rabbinical device that structures an ostensible loan into a permitted investment), according to the ruling he received from a rav. After studying the issues involved in Shas and poskim, he has decided to return the interest to the borrowers. In our country, the bank notes have been devalued, and the government has required people to pay a larger sum of money than their original loans’ face value to the point that they return the same value of the original loan (Ed. note – we would call this linked to the inflation rate). However, my student does not have enough money to return the ribbit (interest) according to the increased amount.
Ruling: According to Torah law, one pays a loan according to the original face value and does not adjust it for inflation. This is the case even when the currency is locally disqualified, as long as he can take the money to a place where he can use it (Bava Kama 97b, Shulchan Aruch, Choshen Mishpat 74). The matter is all the more clear when the currency is still valid, just that it is not as valuable as it once was.
P'ninat Mishpat (825)
Various Rabbis
335 - Adding on to Old Present or Setting New One?
336 - Returning Ribbit With Devalued Currency
337 - Late Demand of Expenses
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However, this is not a simple manner. If the Torah requires payment and dina d’malchuta determines what currency is valid, from a Torah perspective as well, then my student would not be paying properly. The fact that the Torah recognizes dina d’malchuta regarding currencies even in regard to Torah law appears clear from the fact that the gemara (ibid.) assumes that if a currency cannot be used for payment because of disqualification, it also cannot be used to redeemma’aser sheni.
Nevertheless, my student is required to pay only the face value he received as ribbit. Dina d’malchuta is valid in regard to matters that are related to the operation of the kingdom, such as the use of its currency. Had the kingdom not made a decree in regard to payment of a devalued currency, the Torah law would have not required it, but once they did make a decree, we see it as a matter of their discretion, and halacha also requires additional payment. However, regarding the ability of one to repent and return ribbit he took, we have reason to be lenient to enable repentance. Since this type of payment is unusual, we assume that the kingdom did not mean to institute their rule in regard to a type of obligation that they do not recognize legally. Therefore, my student should pay only according to the face value without adjustment for inflation.
P'ninat Mishpat P'ninat Mishpat: Agricultural Water Rights – part II
based on ruling 84122 of the Eretz Hemdah-Gazit Rabbinical Courts
P'ninat Mishpat P'ninat Mishpat: Unsuccessful Transfer of Yeshiva – part V
based on appeal ruling 82138 of the Eretz Hemdah-Gazit Rabbinical Courts
P'ninat Mishpat P'ninat Mishpat: Undoing a Problematic Partnership – part II
based on ruling 84061 of the Eretz Hemdah-Gazit Rabbinical Courts
P'ninat Mishpat P'ninat Mishpat: How Many Dayanim?
based on ruling 84139-1 of the Eretz Hemdah-Gazit Rabbinical Courts
Peninei Halakha 5. Weddings and Engagements during the Omer Period
Chapter 3: Customs of Mourning during the Omer Period
Rabbis in Midrash
Lessons
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Kuzari -Rabbi Ari Shvat Kuzari class 5- "Proofs of G-d"
This may be the most important class of the entire book, where we finally get to the Jewish proof of the existence of G-d and truth of the Torah. We should follow His own direction where He tells us how to get to Him: through the Nation of Israel: Jewish history, Jewish prophets (and today, prophecies fulfilled), and national reward & punishment towards Am Yisrael.
Ein Aya One Humanity, One Creator, One Jerusalem
Rav Kook innovatively and beautifully explains this aggadeta where our sages say that after Jerusalem was destroyed her cinnamon fragrance is only found locked in a particular kingdom's treasury.
Shlach Lecha "Why So Many Don't Make Aliya?" - Parshat Shlach
This short article deals with the weird phenomena that every single time Am Yisrael is meant to enter the Land of Israel, throughout the Tanach, 2nd Temple and until today, they "chicken out" and look for excuses. What's the problem with this mitzvah that proves so challenging. The article, based on sources, suggests that the difficulties of Eretz Yisrael is precisely her secret and beauty!
Kuzari -Rabbi Ari Shvat Kuzari class 4
The class deals with Islam and how the Muslim tries convincing the King of the Khazars, and why he was also rejected.
Beha'alotcha JEWISH STATE= GUIDE TO G-DLINESS & SELFLESSNESS
A Jewish State not only is a good idea, but educates us towards selflessness, altruism and G-dliness in our daily lives.
Ein Aya In Zion Even the Smoke of the Bark is Sweet
Just as Jewish nationalism is different from others, so too our capitol of Jerusalem is totally different than other national capitols. Rav Kook beautifully explains the passage in the Talmud that the trees of Yerushalayim were cinnamon trees.
Kuzari -Rabbi Ari Shvat Kuzari class 3
The second speaker invited to convince the Khazar King is the Christian, who presents their beliefs. Even before the questions of the King, "between the lines", the author R. Yehuda HaLevi already begins disproving them.
Ein Aya "Intimacy: Love, Life & Giving or Egocentric Taking & Expiration"
Today, many confuse between intimacy in marriage, based on love, giving and life which are diametrically opposed to empty "sex", pornography and prostitution which destroyed the Beit HaMikdash. The practical importance of clarifying this topic in today's western society is obvious, especially for young adults.