What Usury Did to Serfs In Old Tibet

In old Tibet, the local government (including individual officials), monasteries and feudal lords all engaged in trade. Without exception, they also lent money at usurious rates. Interest-based profits were a major source of their incomes. To exploit serfs, the Dalai Lama and the Tibetan local government established special agencies to handle money-lending matters. The agency established by the Dalai Lama for the purpose was called