Deuteronomy 23:19: “You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest.”

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Everyone hates tax collecters and such

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In the Old Testament, the Israelites were forbidden from charging “usury,” or interest, on loans to fellow Jews (Deuteronomy 23:19), but they were allowed to charge interest on loans to foreigners (Deuteronomy 23:20). The earlier iterations of this law in Exodus 22:25 and Leviticus 25:35–38 make it clear that it deals with loans made to fellow Israelites who were experiencing poverty. Having to pay back the loan with “usury,” or interest, would only put them further into debt and was not beneficial to the economy. Loans to foreigners, however, were considered more of a business deal—such loans were seen as international commerce and therefore allowed. This law served as a reminder to the Jews that helping those in need is something that should be done without expecting anything in return.

https://www.gotquestions.org/usury-Bible.html

For one thing, Israel was to be a nation devoted to God as a Holy nation of priests to the rest of the world. They were to act holy to one another. They were allowed to charge interests on foreigners, but the idea was that profit should not be the basis of lending money; it should be a charitable act.

The clear teaching of the Bible is that God expects His children to act righteously when lending money. And it helps us to remember that our ability to produce wealth comes from God (Deuteronomy 8:18) and it is God who “sends [both] poverty and wealth; He humbles and He exalts” (1 Samuel 2:7). Now, there is nothing wrong with legitimately loaning money and expecting to be repaid at a fair rate of interest. Yet we need to remember that the Bible’s teaching on money matters also includes borrowing money and indebtedness. Although the Bible does not expressly forbid borrowing money, it doesn’t encourage it, either. It is not God’s best for His people, as debt essentially makes one a slave to the lender (Proverbs 22:7). God would rather have us look to Him for our needs than rely on lenders. Additionally, as the psalmist makes clear, we are to repay our debts (Psalm 37:21). When we loan money to someone, we increase that person’s debt load and make it easier for him to stumble.

Someone once said, “Before borrowing money from a friend, decide which you need most.” There is no doubt that friendships have been strained or even lost due to the lending of money. Yet, if both parties stay within biblical parameters, there shouldn’t be a problem. Nonetheless, to forego jeopardizing a relationship you value, in some situations a gift may be better than a loan. God expects His children to give to those in need, so we give of our time, talents and treasure. As Jesus taught us, “Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you”

https://www.gotquestions.org/Bible-lending-money.html

Jesus also gave us a couple of Parables (of the Talents and the Minas) in which the lazy worker was asked why he didn't give the money to the bankers so that the lord could receive his money back with interest;

"24 He also who had received the one talent came forward, saying, ‘Master, I knew you to be a hard man, reaping where you did not sow, and gathering where you scattered no seed, 25 so I was afraid, and I went and hid your talent in the ground. Here, you have what is yours.’ 26 But his master answered him, ‘You wicked and slothful servant! You knew that I reap where I have not sown and gather where I scattered no seed? 27 Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest." - Matthew 25:24-27, ESV.

20 “Then another servant came and said, ‘Sir, here is your mina; I have kept it laid away in a piece of cloth. 21 I was afraid of you, because you are a hard man. You take out what you did not put in and reap what you did not sow.’

22 “His master replied, ‘I will judge you by your own words, you wicked servant! You knew, did you, that I am a hard man, taking out what I did not put in, and reaping what I did not sow? 23 Why then didn’t you put my money on deposit, so that when I came back, I could have collected it with interest?’" - Luke 19:20-23.

Now, Jesus was using these two parables to explain that God expects His people to do godly works for Him, that when Christ returns, He may reward them. However, lending money with the expectation of a fair amount of interest isn't ungodly so long as the money isn't wrongly used. The problem comes from greed and a desire for profit that turns one into a Scrooge instead of a godly giver. To paraphrase what my NASB Study Bible says on the matter in a note about a similar passage, the law did not discourage lending interest so much as it encouraged charitable giving (NASB Study Bible by Zondervan, note on Leviticus 25:36, page 168). There is a rightful fear in the Bible that money can become our god and leave the poor and needy without the financial support they need to live. It was, I believe, the compassion for the widow, the fatherless (i.e. orphan), and the poor that led God to make these laws.

It must be noted that God's vision of the nation of Israel included returning land that had bought from poor Israelites was to be returned to them on the year of Jubilee, which occurred once every fifty years (Lev. 25:13) and all debts cancelled every seven years (Deut. 15:1-11); anyone who had fallen into debt slavery was to be freed on the seventh year (Deut. 15:12-15). Land was not to be sold permanently; a relative (kinsman-redeemer) held the right to recover it for the original owner (Lev. 25:23-31). As such, poverty was not to be permanent; one way or another, poor people could recover property and be set free from slavery, and these laws were designed to prevent rich people from purchasing land at the expense of the poor and to prevent a permanent underclass of poor and homeless people from arising. Sadly, as much later books attest, these laws were frequently disobeyed, much to the oppression of the poor (Nehemiah 5:1-13, Ezekiel 18:10-13, Ezekiel 22:12, Amos 2:6, Micah 2:2, Micha 6:9-16, etc.). Human greed all too often is the norm, instead of compassionate and charitable giving.

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Theoretically, if the American economy was based fully on the principles of the Torah, what would it look like?

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I do not know, though for the fun of alternate history/reality I could try to make an educated guess.

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Oh what a world that would be. Though to be honest, knowing the History of the Hebrews in the Bible, it may not be far off from today, except nations would be more isolationist.

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Maybe, but more fair-minded, at least in regards to poor people. But then again, Christ said to go out and make disciples of all nations, so isolation would be a hinderance to that goal.