Yes, it's perpetual debt if you don't pay it back.

No, it’s perpetual debt because it’s PERPETUALLY INCREASING.

Lending money is a service, it's not usury.

This was never questioned.

Usury implies taking advantage of a victim.

Interest takes advantage of a victim.

There is no victim in a voluntary agreement which mutually benefits the participants.

Interest is not a mutually beneficial agreement.

Like if you wanted to start a business, you would have to persuade a lender to let you borrow the money to finance the start up. The lender takes on risk to lend the money.

That’s fine.

In exchange, the borrower pays interest as fee

Why. This is unnecessary.

If the lender did not earn interest, then there would be no incentive to lend the capital.

It’s like you’re actively trying to make people believe that no other options exist.

Why take on risk when there's nothing to gain out of it?

So don’t. It’s really not that hard to come up with THE MOST OBVIOUS POSSIBLE SOLUTION, WHICH WAS ALREADY TRIED SUCCESSFULLY IN HISTORY.