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"You must have accurate and honest weights and measures, so that you may live long in the land the LORD your God is giving you." Deut. 25:15
Why do we have this financial crisis? Many point to surface causes and seek bandaid solutions. The root cause is really simple. We do not operate our money system according to God's laws. I have said for a long time that the money system must totally collapse - that hasn't happened yet - for the simple reason that ANY system that violates the Word of God must sooner or later collapse unless it returns to a Godly base. It is inevitable, since only God's systems work.
In fact, the first report I wrote in the Financial Section, There Is Counterfeit Money In Your Wallet, was along these lines. Many Christians don't even realize that God has a way for the money system to operate. They have rejected Biblical Law so they are stuck with the ever-worsening "solutions" of the world. Christians need to take time to study economics [and other issues] from God's perspective.
What is God's system? Basically, it is to have honest weights and measures. In relationship to money, that means that money has to have value. In other words, money has to be backed by something. Normally, it has been gold, but what it is backed by doesn't matter as much as that it is backed by something that people want. This prevents governments from inflating the currency. No more paper money or digital dollars can be created than they have gold [or whatever] to redeemed it.
Inflation, deflation, recession, depression and other financial crisis all come as a result of unbacked currency. It is often called "hidden" taxation, and it is always theft. It steals from people because their money is worth less than it was before. That cannot happen on a gold standard, which is why governments hate the gold standard - it limits and restrains them.
Fractional Reserve Banking is a part of this system and also represents theft. It loans out more money that it has. In an honest system, you can only loan what you have - not what you don't have.
When will the money system totally collapse? Only God knows. It may last for hundreds of year yet going through its cycles, or it may totally collapse in a few years. As Christians we do not live in fear, but we need to be wise and prepared. Both Gary North and Tom Rose have books out on Christian Economics. It is certainly an area that Christians need to know and understand. We also need to follow God's laws to avoid an unnecessary financial crisis in our personal lives.
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