Why do we allow bankers to charge interest on loans?

Why do we allow bankers to charge interest on loans?
Added (1). Should it be illegal to charge interest on loans?

Let me outline my reasons to justify why usury should be outlawed:

1.) Increases income inequality.
There is naturally a huge disparity in wealth between the rich and the poor. The bottom 90% is in debt to the top 10%. Interest payments are a transfer of wealth from borrowers to lenders, in other words from the bottom 90% to the top 10%.
Added (2). 2.) Causes economic stagnation.
Charging interest on loans turns money from a means of exchange into a cumulative resource. It reduces the circulation of money and makes the economy weaker as a result. Usury encourages the hoarding of money and this leads to the problems described by the ‘Paradox of Thrift’.
Added (3). 3.) Causes inflation.
Interest payments also inflate prices. If a shopkeeper buys a building on a loan that costs interest, they will have to pay back the interest using money made from sales of goods. In other words, they will have to increase prices to make up for the interest payments.

4.) Encourages parasitic banking
By allowing bankers to charge interest, we subsidise the banking industry and create a class of parasitic rentiers, who do know work, but simply live off their investments
Added (4). 5.) Interest as compensation for default is a myth.
You might say that we need to allow bankers to charge interest in order to compensate for their losses when borrowers default. In reality, the government always intervenes in any banking crisis; there is no downside risk for bankers. When bankers lend money, the money is created out of thin air, this is called endogenous lending, and bankers don’t lend any of their actual money.
Added (5). 6.) Usury causes inevitable default
Because when everyone borrows Principal and owe Principal and Interest, only P/(P+I) can pay back their mortgage and the remainder I/(P+I) cannot pay back their death-gamble and are foreclosed into poverty. Assuming of course, that there is no inflation.

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