During this Christian holiday season, here is an interesting view about gold, silver, money, the Bible, and today’s economy. This article is a bit dated but serves its purpose nonetheless.
Written by Jason Hommel From: http://www.bibleprophesy.org/goldsilver.htm
To summarize a few of the main points of the economic system as given in the law, which are a contrast to what we have today:
1. Gold and Silver, as is all of creation, are from God, and given to man for good use, for a useful purpose. (Genesis 1:28, Gen 2:12.) Gold, silver, seed, and flour, were all used as money. (Lev 27:16, 2 Kings 7:1) The vast majority of the time that gold and silver are mentioned in the Bible, it is in reference to the wealth of the kings of Israel or to the wealth of the temple of the Lord. Gold and sliver were used in the workings and furnishings of the ark of the covenant, and the vessels in the temple. Therefore, gold is definitely the approved by God for men to use as money and as a store of wealth.
2. The people were to have and use “just weights and measures”. The standard Hebrew units to measure the weight of things such as iron, stone, flour or anything, were the shekel or talent (or other measures), and also used to measure the weight of gold and silver. Unjust weights and measures were “an abomination to the Lord”. (Lev 19:35, Deut 25:15, Prov 20:10)
3. Charging interest when lending money was forbidden, unless to a foreigner. (Exodus 22:25, Lev 25:36-37, Deut 23:19-20, Psalms 15:5, Prov 28:8, Ezek 18:12-13, Neh 5)
4. Every 7 years was to be a time of total debt forgiveness & slave release. (Deut 15:1-3)
5. Every 50th year there was not only debt forgiveness, but also the return of all land (except in cities) to the people which may have been loaned out or sold. (The 50th year, or Jubilee, was after seven sevens or 49 years) (Lev 25, 27:16-18)
6. Wages had to be paid every day, not every two weeks. (Lev 19:13)
7. There was to be an inheritance from fathers to their children, and even grandchildren. (Num 27:7-11, Prov 13:22)
8. They were to pay tithes and suburbs (land around the cities) to support the tribe of the Levites, one of the 12 tribes, who were the priests & ministers, lawyers & judges, scribes & teachers, and caretakers of the temple. (Num 18:23-24, 35:2-7)
Next, I will examine how the above laws contrast with our modern economy and system of money.
The two evils that are most frequently mentioned with regard to dollars is that, one, dollars are not a just weight and measure, and two, that all dollars brought into the economy are done so when either the government or the people borrow money from the banks (who borrow from the Federal Reserve) at interest. Most people understand that, originally, the dollar was defined as a weight of gold, 1/20 of an ounce, but they really don’t care all that much about it. The reason why is because when hard economic times come because the people are in debt and there is a perceived “lack of money”, the people actually prefer allowing inflation to continue, rather than let deflation make it impossible for them to pay off their debts. Therefore, it is much less well understood why lending at usury, or any interest rate, is wrong. I will attempt to briefly cover why charging any interest at all is unnecessary for an economy to prosper, but also evil.
There are many ways to cause wealth and capital to accumulate. You can invest capital (or time and labor) directly in some endeavor, such as a business, which involves both risk and work. Or, you can lend money out at interest, requiring collateral to eliminate risk, and charge interest, which involves no work. Obviously, the second way is easier, and it is dishonest because it involves no risk and no work. Contrary to popular thought, forbidding loans at interest would not destroy an economy. Money would still be put to good use as people invest it directly into the economy. In fact, people would be more likely to invest in stocks (directly into the economy) if bonds were simply not available. In fact, it is not even necessary to pass laws forbidding loans at interest, nor is it necessary to prosecute either borrowers or lenders for participating in such transactions. What is needed is for the government to simply not recognize contracts which charge interest as being valid contracts, just as any contract which is based on an illegal practice, combined with fraud and deception and lack of disclosure should not be valid. What this means is that lenders should not be able to demand that the government enforce payment or transfer of collateral when payment becomes impossible.
When you understand that those who loan money at interest will be able to enslave the people to whom they make loans, it helps to explain what is being described in Nehemiah Chapter 5, and it explains why God’s people are forbidden to lend at interest (usury) to their fellow people. Understanding the process of how usury works also explains how certain prophecies about the nation of Israel would be fulfilled. Israel would both lend to other nations and rule over them. (Deut 15:6, 28:12) Lending to others and ruling over them are concepts that are directly related, “the borrower is servant to the lender”. (Proverbs 22:7)
Investors are often regaled with stories of the power of compound interest, but they are not told the full story of precisely how powerful it can be. Typically, we are told by investment advisors that if we invest $2000 very early in life (and allow for 9 doublings), or $10,000 a bit later in life (7 doublings), we can retire with a million dollars. Great! However, they don’t tell you what is possible if your family dynasty invests a million dollars over a few generations. A million in gold, after 16 doublings, would come to about $64 Billion, which was way more than all the gold in the world back at $20/oz. After 20 doublings, a million turns into a trillion. See the following for proof: 1 1; 2 2; 3 4; 4 8; 5 16; 6 32; 7 64; 8 128; 9 256; 10 512; 11 1,024; 12 2,048; 13 4,096; 14 8,192; 15 16,384; 16 32,768; 17 65,536; 18 131,072; 19 262,144; 20 524,288; 21 1,048,576
Obviously, a single family, in only two-three generations, that started out moderately wealthy, if able to lend at interest, risk free, using loans secured by collateral and government enforcement of contracts, would be able to control all the wealth of the entire world. Again, just a small example of why lending at interest, risk free, using using loans secured by collateral and government enforcement of contracts is inherently unfair, and should not be legal.
Many people say that for the most part, the process of world ownership rapidly accelerated in the early 1900’s, and was greatly facilitated in 1913 at the founding of the Federal Reserve Bank, and was in full swing by about World War II. The proof is that the national debt of the United States at the end of WWII was 250 Billion dollars, and this can be seen at http://www.ustreas.gov/opc/opc0019.html
The $250 Billion x 1 oz/$35 = 7,142 million ounces of gold (worth of dollars) times 1 ton/32150oz. = 222,146 tons worth of gold that the U.S. supposedly borrowed from the Federal Reserve. That’s about twice the amount of gold that is estimated to exist in the world today! Back then, that was probably 4-5 times all the gold in all the world. Of course it is impossible to conceive how the U.S. was able to borrow, in value, more than what exists in the entire world, but somehow we did just that. It is mind boggling that a single private entity was able to create that many dollars out of thin air (because obviously they did not actually loan us more gold than exists), and loan them to the United States, at interest (the interest is the second fraud), and then demand payment in gold all the way up to the early 1970’s until Nixon finally closed the gold window.
Even today, with the debt at five trillion dollars, and all the gold in the entire world valued at one trillion dollars, something is seriously wrong with that. There is no way the United States can ever pay back, in value, 5 times as much gold as there exists in the entire world, and it is even more certain that we never borrowed any such thing in the first place.
Therefore, if we never actually received any tangible thing when we took out the loan, there is no reason to claim or think that we must pay anything back. Printing the presses wildly to pay off the debt is no different than what happened when the debt was created. The debt was loaned into existence with funny-money to begin with, therefore there is no reason that the debt should be paid back with “valuable” dollars.
At this point, attempting to keep the dollar valuable only continues the enslavement of the people and the nation. I say go ahead, monetize the debt, and let the printing presses run wild if the government needs money; don’t sell bonds, don’t even collect taxes, let the dollar collapse to zero, and let the people flee to ownership of gold and/or silver while the dollar can miraculously still purchase any.
This hopefully explains the two great evils of our monetary system which are that the dollar is not an accurate weight and measure, and that debt money and usury is evil. But more than that, it also explains why all debts, everywhere, for everyone, all at once, should be completely forgiven and wiped out every 7 years, so that this kind of enslavement debt can never be built up in the first place. Allowing the dollar to collapse to zero would be a great benefit to the economy, since all enslavement debt would be wiped out, and the entire system of fraudulent weights and measures would be forced to end.
Examining the process of evil that created our current economic problems hopefully can shed light on how it will end, and what will come next. It is a certainty that all paper money systems in all of history have eventually collapsed; therefore the dollar, like all the rest, is doomed to reach zero value at some point in the future, and anyone who saves money in dollar form is really just asking for trouble.
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