A while back I took a loan of approximately $170000 to buy my apartment.
While the apartment is a good investment that will yield a bunch (bought it at 75% of market price), I am now indebted to a bank.
It's no big problem as I will eventually sell it off with a gain and move somewhere else, but until then, I've been looking for a way to rid myself of the interest payment on my loan each month.

I recently found JAK ( http://jak.se/ ), which is a not-for-profit, non-interest membership bank where members save and loan from each others money.
I like this idea, since, as we all know, interest is one of the biggest scams ever.

If I become a member, I can take a loan from them to pay off my loan with the other bank.
But, since this loan is non-interest, it means that each time I pay off this loan, I'm actually reducing it instead of just maintaining status quo.
Eventually, even if I don't sell my place, I will get out of debt.

Now, this is a Swedish bank and a Swedish site, so this might be a good tip for any Swedish Wogs that wants a better banking deal.
If we're going to deal with banks at all, might as well deal with the better ones.

I don't know of any non-interest banks in the US or elsewhere, but if anyone do, please share your data.

I'll look into this...

Debt = slavery.

Once you have established this fact you can go from there.

I too am still paying off debt from 20 years ago...  student loans, credit cards, etc. I was almost done with it all when I met my wife. Needless to say, I added another 5 years on by assuming her debt. This is how our lives are wasted, working for shit we don't need, paying for educations we'll never use, and buying cars that will break down by the time they're paid off. Today I pay cash only for everything and hoard silver and a little gold.

That seems like a good deal for getting out of debt. If you can't pay those rates then you shouldn't be borrowing money at all. I especially like the part where you can be a lender and get 6-7% where a bank would only give you 3-5%.

After a little more research it seems that you can get much more. There are people getting 35% back on their loans.

I took this into calculation when I took the loan.
Now, it's more like I have transferred my money to real estate rather than to some fluff like education.
I own this place, or, until I've paid my debt, at least 33% of it, so I will at least get a bit of pocket change if something hits the fan.
But, yes, it it an accurate axiom.

I would avoid places that work with interest at all, because interest is a scam.
JAK has an "effective interest" of about 2.5%, because they take out an administrative fee, but still, that's lower than the 6% my current bank is taking.