Bail ins. Bail outs. Financial repression. NIRP, ZIRP, and QE. These are just a few of the puzzling terms one is confronted with in the course of reading financial journalism. And all of them, though intellectually defended by prestigious academics and widely practiced by powerful central bankers, are the unbiblical, unchristian, immoral fruit of economic thought divorced from the authority of God’s Word. Describing the current world monetary system, Ronald L. Cooper put it this way,
“[T]he monetary system is a Satanic monetary system. It’s under the kingdom of Satan. There’s no place in the bible for a central bank” (The Failure of Secular Economic Policy, Trinity Foundation Conference on Christianity and Economics, Lecture 5).
Many Christians would recognize that there are problems with our economy. Some would even own that, yes, central banking as practiced by the US Federal Reserve (hereafter, the Fed) is the source of much misery in this nation. But to call the current economic and monetary system of the US satanic would very likely shock even most Evangelicals. Surely that cannot be so.
And yet there is a great deal of evidence that central banking is indeed the satanic monstrosity Cooper made it out to be. The aim of the following essay is to make manifest the reason why this is so.