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Today’s Issues, From a Biblical Perspective!

Are Christians Tainted by ‘Dirty Money?’

Posted by truthtalklive on April 29, 2008

Today’s guest is Richard Dail of www.rldailinvestments.com and he guides us towards investing Biblically.

Listen to this show online after 6:30pm EST at www.wtru.com

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15 Responses to “Are Christians Tainted by ‘Dirty Money?’”

  1. Mike said

    Is every advisor able to tell me what my investments are supporting?

    OUTSTANDING! mg

  2. Mike said

    Caesar’s money went to Crucifying Christ

  3. Angela said

    Do you completely trust that God can provide for you in any way? Or are you trusting in your own knowledge and desire for wealth?

  4. Mike said

    I contend that our very money is Satanic. God gave us gold and silver to use as money. It is honest money. In Prov.20:10, Lev.19:35, and Deu.25:15 God’s word is very clear that he hates diverse weights and diverse measures. He even uses the word Abomination in Proverb 20:10 when refering to diverse weights and diverse measure.

    Our money is a diverse weight and measure. It use to be based on a gold and silver standard, but all that ended with FDR and finally with Richard Nixon when he closed the gold window. The US dollar is a mere shadow of what it once was. It has lost over 95% of its value since the creation of the Federal Reserve.

    What’s more it has enslaved Christians and non Christians alike. It has robbed us of our wealth and will in the end destroy the US. How has this happened?

    Simple, easy money made for easy credit. IT allowed the government to go into massive debt, currently running at $9 trillion with unfunded liabilities over $50 trillion. This is more than 5 times US GDP. It was easy money and credit that allowed the dot com bubble to inflate then it burst. The Fed then lowered rates to 1% and the Real Estate Bubble was created. Now that one has popped.

    The next inflation created by the Fed, supported and promoted by the Government is now creating even more money out of thin air, which is what is causing inflation.

    Christians have been enslaved by our monetary system. With easy credit we no longer had to do without while we saved for what we wanted. We were able to “Charge it.” Christians began to worship at the alter of materialism. The easy money allowed us to buy houses that we could not ordinarily afford, take vacations that were out of our reach, eat out more often than our parents ever did, and buy cars that ordinarily afford. We had a new idol.

    In the mean time rising wages put us into higher tax brackets, inflated house prices led to higher real estate taxes, rising prices for goods and service led to higher sales taxes. So when we were on a sound monetary system one wage earner could support a family, send kids to college, and should he be unable to work, it left the wife in reserve to bring home the bacon. Now, not only do both have to work bringing to us a new term, latch key children in the late 70s, but we started using up our savings and by the 90s we started going into debt. All thanks to our Satanic Fiat currency, which is a fraud.

    Do you really think credit would have been so easy if our money was backed by gold or silver. NO WAY would we have seen: No doc. loans, interest only loans, easy auto loans, and a massive flood of credit cards. Gold and silver is much to precious but a fiat currency that can be printed out of thin air and therefore basically worthless is easy to lend. It is nothing more than fancy Monopoly Money.

    It is a fraud and that fraud is now coming into view for all to see. The rising food prices, energy prices, all commodities is exposing the very fraud perpitrated on us by our government. But let’s be honest, God has made it clear…VERY CLEAR…in his word and we have disobeyed God. The next 3 to 4 years are going to be miserable for the American people as we experience something similar to what Germany’s Weimar Republic went through after WW I.

  5. ADB said

    I don’t wish to be provoke debate or argument, but may I suggest you read some history. In the late 19th century the defenders of the ordinary folks were the ones attacking the gold-standard. William Jennings Bryan, who defended the Fundamentalist position at the famous Scopes Trial in Tennesee, gave a famous “Cross of Gold” speech in which he said that ordinary everyday Americans were being crucified on a cross of gold. By the way, I don’t think the scriptures you reference are particularly applicable to this either. They refer to using unjust scales, so that what a person thinks is a shekel of something is actually measured to be be 1 1/4 shekel, resulting in an unjustly high price. America has certainly acted unjustly at times over the years, but I don’t think that the lack of a gold standard and the creation of the Federal Reserve are bringing God’s wrath on us.

    Best wishes in Christ,

    A curmdugeonly pastor 🙂

  6. Mike said

    Curmdugeonly pastor,
    I appreciate your response, and I am familiar with the whole William Jennings Bryan Populist gold vs. silver debate. The issue back then centered around farmers debt vs. big bank credit. The gold standard kept inflation in check which is beneficial to creditors and detrimental to debtors. By moving to a silver standard the currency would inflate, thus allowing farmers to sell product at higher prices and lowering their debt burden. Bryan knew that by increasing the money supply you lowered the value of money. It is the simple law of supply and demand.

    Now let’s interpret the Bible literally. Proverbs 20:10 says nothing about unjust scales. It says “weights and measure.” How do we measure wealth? We say a person is worth xXXX number of dollars. What is your house worth? It is worth XXXX number of dollars. The currency is a measure of wealth and value, just like a yard stick measures distance.

    If someone were to ask me, “How tall are you?” I could say I am 68 inches or 5ft. 8 inches tall as long as 1 ft. = 12 in. But now let’s say we change that measure to 1 ft. = 10 inches. Now I can say I am 6 ft. 8 in. tall.

    The same is true for the US dollar. If you were supporting a family during the inflation of the 70s, you will recall how prices soared, even as the economy slowed. The word stagflation entered our vocabulary. What caused that inflation?

    In 1971, Nixon closed the gold window to prevent the draining of US gold reserves led primary by France. IN the late 60s America was embroiled in an expensive war and Johnson instituted his Great Society. Guns and Butter cannot be sustained in any economy. So after 1971 the US dollar was completely cut from its gold teather. The Money supply could now grow without restraint. In 1970 M3 stood at $650 billion. By 1980 it was over $2 trillion.

    Inflation had run amoke due to excessive growth of the M3 money supply. Jimmy Carter appoints Paul Volcker, who knows the inflation monster must be slain and he jacks up interest rates to double digits and chokes off the money supply. He had to do this because the US dollar was in danger of losing its reserve currency status, established at Bretton Woods 1944.

    Volcker brought on a recession that many called the worst since the great depression. Bankruptcies wiped out all the excess money and a brand new economy was born with the capital that was left. The money supply was now in balance with the economy.

    Fast forward to 1987 and Alan Greenspan. He used the Federal Reserve and additional liquidity to support the stock market after the 87 crash. Then came the real estate / savings and loan crisis of the early 90s followed by the Asian currency crisis, the Russian default, LTCM hedge fund blow up in 1997, and all they hyped up fear of Y2K. Everyone of these was met with the Federal Reserve’s injecting more and more liquidity (read more money and credit) into the system.

    Like all inflations, the early stages feel real good as asset prices begin to inflate first. The stock market took off and real estate prices began to rise during the 90s.

    All this excess liquidity (easy money via easy credit) goosed the economy but it was an illusion of wealth. All those injections of liquidity led to malinvestments and we got the dot com / tech bubble. When that bubble popped the Fed created more excess liquidity to deal with that crisis which led to the real estate bubble. More malinvestments on a scale never before seen in human history. The OTC derivatives imbedded within the STructured INvestment Vehicles (SIV) amount to 10s of trillions of dollars. Total Worldwide derivatives, which back in 1994 stood at $1 trillion, are now listed at $516 trillion, with Credit Default swaps running at $20 trillion. This is the Financial crisis the Fed is dealing with now and guess what they are doing? If you guessed, “exploding the money supply,” you would be correct.

    This is what is causing the US dollar to fall off a cliff and creating all the inflation.

    And at the root of the whole mess is the fiat currency that can be created out of thin air. If we had stayed on a sound monetary system, anchored by gold and silver (remember most of our coins were made of 90% silver) none of the above would ever had taken place. Yes we would have had recessions but they would have been short lived as most were prior to the creation of the Federal Reserve in 1913.

    God hates a diverse weight or measure because it is a lie. It cheats people. God want honesty no deception. Deception is of Satan and since our currency is being created at an astronomical rate, thus being debased, it is a lie. How much are worth? That is not as important as, “HOw much is your money worth?” How much will it be worth 5 years from now?

    Now let me demonstrate the deception of our current monetary system. In Oct. 2007 the Dow Jones Industrial Average hit a new high of 14,200. In 2000 it reached a peak of 11,500, so in a span of 7 years it was up nearly 3000 points. Investors were delighted, but were they wealthier? Actually, no they weren’t, they had actually lost more than 1/2 of their wealth by October 2007.

    In 2000:

    1. Gasoline was right around $1 to $1.20. So the DOW bought you say 10,000 gallons of gas.

    2. Eggs were around $.50 so the Dow bought 20,000 dozen eggs.

    3. Gold was at $250 so it took about 45 oz. of gold to buy the DOW. Silver was at $4 so it took 2,850 oz. of silve to buy the DOW.

    Fast forward to Oct. 2007 with the DOW at 14,200.

    1. Gasoline was at $2.75 so the Dow bought you 5,200 gallons of gas.

    2. Eggs were at $1.25 so the Dow bought you 11,300 doz. eggs.

    3. Gold was around $800 so it took 18 oz. of gold to buy the DOW and silver was at $16 so it took 900 oz. of silver to buy the DOW.

    If a person was a European investor they would have been devasted as the value of the Euro has gone from $.90 = 1 Euro to $1.55 = 1 Euro.

    IN EVERY MEASURE, EXCEPT THE US DOLLAR, THE DOW JONES INDUSTRIAL AVERAGE IS DOWN. It is an inflated Market, just the way the Weimar stock market went from 89 marks to 500,000,000,000 marks as a pound of potatoes went from .25 marks to 60,000,000,000 marks. (1919 to 1924).

    Pastor, may I suggest you read what the Bible says about wealth creation, stewardship, debt, and honesty. What does God honor? After all He is Truth while Satan is a lie.

    Our whole monetary system is a lie and our economy is a cartoon. That cartoon is no longer funny and just like a drug addict will be destroyed by the very drugs he has abused, so will we when the house of cards comes crashing down. It is happening and anyone that can look around is seeing it. We are being impoverished and it will get worse. We have turned our backs on God and being the Gentleman that He is, He has decided to let us have our way. My prayer is we return to Him in obediance.

  7. zerxil said

    The good news?? The national debt is actually getting lower because pretty soon we can use our gold & or silver reserves to break even.

  8. Brad said

    Mike,

    The money system isn’t the problem – it’s just a by-product of the actual problem. While I don’t disagree with your comments (you’ve obviously researched it more than I, and they are very interesting observations, by the way, that I and probably a lot of others haven’t thought of), I think to link the actual problem to our currency is off. What’s the real problem?

    Greed. The love of money. Doesn’t the Bible speak of it? “You cannot serve both God and mammon.” “The love of money is the root of all evil.” It’s not MONEY that’s the root cause, but the LOVE OF MONEY that is the problem. It’s that greed that has caused us to always bail out those who scream loudest, that always has both Americans and American corporations looking to get more, more, more, more, more. That’s the problem.

  9. Mike said

    Zerxil, How I wish that were true. First of all no one knows what gold we have in the vault. The last time it was audited I was in elementary school and commercial airliners were prop driven. America had not yet landed a man on the moon as a matter of fact, the Russians had not launched Sputnik, scarring everyone half to death. Elvis was unknown and Buddy Holly was just getting started. We had a Republican President and no one had ever heard of Vietnam. That was the last audit of our gold reserves.

    But taking the figures from back then, gold would have to be valued at $65,000 per oz. to support the amount of dollars in circulation.

    Besides the true debt is over $60 trillion. Last years deficit was $168 billion but that was on a cash in cash out basis. Using GAAP, which is the second set of numbers presented by the GAO to Congress, the true deficit was over $4 trillion. In other words you could tax the American people at 100% of their income and you could not bring down the deficit. Every year we add to that deficit.

    By the way, very few people can fathom $1 trillion. HEre is how to imagine this amount.

    1 million seconds = 11 days
    1 billion seconds = 35 years
    1 trillion seconds = 33,000 years.

    $1 trillion is equal to a stack of 1000 dollar bills 67 miles high.

    US unfunded liabilities = $60 trillion. There isn’t enough gold on the planet.

    As a matter of fact almost all the gold ever mined is still in existence. If you could melt into one cube it would equal a cube 4 stories in dimention (4 stories high, 4 stories deep, and 4 stories wide.)

    The market cap of General Electric is twice the market cap of all the gold miner on the Gold / Silver index. If you owned all the Disney stock you could sell about 2/3 of it and buy all the gold and silver mines in the world.

    If Warren Buffett wanted to buy the same amount of Silver he bought in 1997, he could not do it. There is not enough silver on the Comex.

    If the American people put 2% of their assets into gold they would buy all the gold in the world.

    Shall I continue?

  10. zerxil said

    Whenever money is made off the suffering of others it is tainted. If someone gives you this money & you know where it came from you are than tainted. If you pay to support such activity you are the one tainting the money and people. I feel GREAT sorrow for you because you are Satin’s brother.

  11. Mike said

    The Bottomline: The Bible is very clear. God’s money is gold and silver. Wealth is created by producing (Abraham was rich in sheep, cattle, gold and silver). Same for Jacob, Issac, etc. AT the height of its glory, Israel was the most productive nation on earth. It wasn’t called the land of milk and honey because the bought milk from Egypt and the honey from the Assyrians. Silver was plentiful under Solomon. Do you suppose Israel mined all that silver or do you suppose they got it by selling to other nations.

    God is very clear in Due.8: 10 – 20 on what will happen to Israel should they forsake the Lord their God. It was a warning to Israel, God’s chosen people, his children. America was blessed by God so long as we obeyed Him and made Him the focus of our attention. Does that exist today or do we worship another god, like dinner at our favorite restaraunt, or vacation at a resort, or the biggest most luxurious SUV we can borrow the money for, or the biggest home in the neighborhood, or that 20th pair of shoes, or the latest bass boat, or the best shotgun in the field or….you fill in the blank with the idol of your choice. All these idols were made possible through easy credit, which was made possible by a Federal Reserve unleashed to create as much money as it desired, and in doing so we have ignored God’s warning in Deu.15: 8. not to mention the warnings about debt.

    When all those dollar floating around the world come home to roost, inflation will take off like a Saturn Rocket coming out of its silo. But God’s money will preserve it value.

    Think about this. During the 1960 gold price was set at $35 by the government. Actually gold’s price fluctuated between $35 and $45. Oil’s price fluctuated between $3 and $4. So we can say that 1 oz. of gold bought 10 bar. of oil (sometimes more sometimes less.)

    Today gold is at $875 and Oil is at $115. So a barrel of oil goes for 7.6 oz. of gold. When gold was at $1011 recently and oil was $105, and oz. of gold bought 10 brls of oil. Therefore 1 oz. of gold still buys between 7 and 10 barrels of oil. In ancient Rome a good Roman outfit with foot wear sold for 1 oz. of gold. Today 1 oz. of gold will still buy you a fine suit, shirt, tie, shoes and socks.

    Silver is the common man’s money. It has served the same function.

    Gold and Silver are God’s creation. Federal Reserves notes come from Satan himself. But he is smart enough to use dead Presidents or famous Americans to decorate the face of the notes, then applies “In God We Trust.” thereby using the Lord’s name in vain.

    Satan hasn’t changed since the Garden of Eden and neither has man. He’s slick as a snake and we are just as gullible as ever.

  12. Mike said

    Zerxil, what do you think makes wars possible? Funny money. Nations experience inflation during time of war because Warring nations must print extra dough to finance the war. All fiat money is a debt. It is a claim on the nation’s assets. Haven’t you ever noticed that gold and silver have no allegiance to any government or nation. A 1 ounce gold coin from China is valued anywhere in the world. Today the most inflated currency is the Zimbabwae dollar. It is basically worthless. But if I had a Zimbabwae Gold dollar it would have value anywhere on earth.

    As a matter of fact I have a Cuban Silver dollar minted in 1953. It has the same size and weight of silver as the US silver dollars. So while the Cuban peso is basically worthless, this Cuban silver dollar will be accepted for its silver content anywhere in the world. It is not the fact that it is Cuban, it is the fact that it is made of God’s money Silver.

  13. Mike said

    Brad, I failed to see your comment. In the past those that loved money hoarded it. They were stingy. They did not want to spend it. When the Bible speaks of the Love of money it is referring to MONEY. Federal Reserves notes are not Money, they are debt obligations. We just think they are money because we are forced to accept them. Take a dollar bill. Read the part about “legal tender.”

    Legal Tender means you are required to accept those green, now peach and pink pieces of paper or you go to jail. No one ever had to write “legal tender” on a gold or silver coin. It had intrinsic value.

    If we loved money we would not be in debt up to our yang yangs. Our idols are the things that money use to buy, but now we use little digits to buy them. We can borrow these little digit (creating money out of thin air) to the tune of $14 trillion, which is the combined mortgage and total credit debt in America.

    Like I said, the monetary system has created a vast array of idols for us to worship. For some it is going out to eat, for others it is a bass boat, a new dress, a new set of gold clubs, or a great vacation. Far too many people acquired these things without ever having to work for them, thanks to VISA, Discover, Mastercard, and good old American Express. By the way does American Express still print travelers checks or did they go the way of Christmas Club savings accounts?

  14. zerxil said

    So MIKE the Federal Reserve is Satan, or are you saying the US mint is?
    “Federal Reserves notes come from Satan himself”
    they still have Christmas Club savings accounts here…I’m not in debt except my house. No I didn’t overspend, it was a repo home. Credit cards are for stupid people. Oh wait, I have 2, but I pay them totally off when I get the bill. by the way most credit card companies are owned by non-Americans. I believe it’s yin yangs (I wanted to say yen). how many people worship going out to eat, or a vacation? or better yet how do you? If you use gold clubs they will bend. A lot of people don’t use their bass boats now.

  15. zerxil said

    so how could we use gold & silver for money if there isn’t enough of it?

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