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"We cannot lend money to each other because of the church's usury rules. But it's useful for business, so we need you to run the banks."
Later...
"Noooo, why does it seem like you have all the money???!!1"
The tyrannical act that followed after:
"Fine, we've set aside a place for you people to live. It's land we stole from people who hate you even more than we do where you'll be utterly surrounded. Hopefully you and they shall destroy each other since we hate you both."
It was more
Those GREEDY JEWS know how to start economies, let's invite them here with promising wealth and so forth!
Banking in a lowly sinful job only Jews will do it.
Also will kill them if we end up owing too much money!!
It's a perfect plan!!!
100s of years later
Why are all the greedy Jews bankers!!!!
"It must be some kind of conspiracy!"
Yeh, I don't think it was quite like that. More like "I need more talented people in my court, let's bring some of those already trained Jews in.", then a couple of plagues, wars and succession assassinations later, random authoritarian 'lord' that siezed power sees the treasury empty and says " I need money. Let's kill whoever still has some... Oh look, a bunch of rich Jews! How fortuitous, for me!"
You would be surprised. There are multiple incidents of the same medieval Christian European ruler inviting in, and then subsequently expelling (and seizing the property of) Jewish communities, often accompanied by extremely antisemitic rhetoric.
Uhuh. Its almost as if EVERYBODY got fucked by tyrant kings who'd have thought. Pretty sus time to flash the poor jews card.