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Farage

Nigel Farage and others bid farewell to the EU Parliament, January 29, 2020.

“There’s a historic battle going on now across the West, in Europe, America and elsewhere. It is globalism against populism.  And you may loath populism, but I tell you a funny thing, it’s becoming very popular.”

  • Nigel Farage

 

As of January 31, 2020, Great Britain is no longer part of the European Union (EU).  Britain’s success in parting ways with the EU, what is commonly called Brexit, short for British Exit from the EU, is the culmination of nearly 30 years of work by Britons opposed to the Maastricht Treaty, which the was signed by the U.K.’s conservative government in 1992, making Great Britain part of the EU.

In June 2016, a referendum was held asking voters whether they wanted to remain in the EU or leave.  Despite a great deal of opposition from the establishment, the vote went 52% in favor of Brexit, with 48% electing to remain in the EU.

Although interests dedicated to keeping Britain in the EU worked hard to subvert Brexit, the resounding victory of the conservatives under the leadership of Boris Johnson on December 12, 2019, effectively guaranteed the success of Brexit.

In this post, I don’t intend to get into the weeds of the political process that brought about Brexit.  Neither do I intend to write much about the principle figures who supported Brexit or opposed it.  My aim here is to step back and to view Brexit in its larger historical context, that of conflict between the Protestant Westphalian World Order and the New World Order globalism of the Roman Catholic Church-State (RCCS).

Though very little attention has been paid to the religious aspect of Brexit by mainstream journalism, and though it may seem strange to some to speak of any relationship between the 16th century Protestant Reformation and the 21st century Brexit, this author holds that, not only is there a relationship between the Reformation and Brexit, but that the relationship is a close one.  Indeed, it is not an overstatement to put the relationship in these terms:  No Protestant Reformation, no Brexit.  It’s that simple.

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2020

Once again, I find myself looking back at the year past and peering forward at the one to come.   As is no doubt the case with many, this is for me a bittersweet annual experience.  By God’s grace, I can say that I have been partially successful in redeeming the time.  But a little honest reflection convicts me that I could have, and should have, done better.

Sin, it would seem, is ever present with me, tainting even my best works.

But thanks be to God, for it is not my own works that justify me.  Rather, I am acceptable to God “only for the righteousness of Christ imputed to [me], and received by faith [belief] alone.”

Truly, the grace of God is amazing toward sinners! It’s as if God were to say to us wretched rebels, “All your guilt, all your hopelessness, all your fear of death and of righteous judgment and of eternal punishment, these things I have taken away in my Son.  Only believe in him and be saved from the wrath to come.”

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“Unless I am convicted by Scripture and plain reason – I do not accept the authority of popes and councils, for they have contradicted each other – my conscience is captive to the Word of God. I cannot and I will not recant anything, for to go against conscience is neither right nor safe. God help me, Amen.”

    – Martin Luther

Here I Stand, A Life of Martin Luther by Roland Bainton (New York, New York: Meridian, 1995, 302 pages with bibliography, references, source of illustrations and index).

Luther_HIS

Many years ago, when first I began to read about the Reformation, I came across Roland Bainton’s biography of Martin Luther and couldn’t put it down. I thought then, and think to this day, that it is a classic on the subject of Martin Luther and the Reformation.

Born in England in 1894, Bainton lived most of his life in the United States, graduating from Yale University with a Ph.D., where he later served as the Titus Street Professor of Ecclesiastical History. With a background like that, readers it may be tempted to suppose that Bainton’s writing, while scholarly, would have little appeal to the non-specialist. He would be half right. While it is true that Bainton was a gifted scholar, Here I Stand is anything but a dull read.

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“The greatest threat facing middle and working class Americans is our depreciating paper currency.”

    – Ron Paul

Gold, Peace, And Prosperity, The Birth Of A New Currency
by Congressman Ron Paul (Auburn, Alabama: Ludwig Von Mises Institute, 2011, 91 pages with index).

There is, perhaps, no more critical subject facing our nation at the moment than the activities of the Federal Reserve, the central bank of the United States of America. But while the Fed’s actions over the past 100 years have had a profoundly negative effect on the lives of nearly all Americans, very few people are aware of the ways in which they are robbed by Fed policy. Even more frustrating from the standpoint of those who believe in sound money is that that there appears to be little desire on the part of Americans to cure their ignorance by studying the machinations of these masters of the universe who run the Fed.

Gold_Peace_Prosperity

One of the principle reasons people remain in the chains of ignorance concerning the Fed is the reporting of mainstream financial journalists. The stories one sees in the mainstream press about financial matters – whether in print or on television, it matters not – seem designed more to steer people away from the truth about the workings of the Fed rather than lead them to understanding.

In stark contrast to the long-winded flim-flam one hears on most news outlets about the Fed, Ron Paul’s Gold, Peace, An Prosperity, The Birth Of A New Currency (hereafter Gold, Peace And Prosperity) is a breath of fresh air. In his typical fashion, Paul manages to be both profound and concise in his comments. This book, a short 91 pages including introductions by Henry Hazlitt and Murray Rothbard plus an index, equips the reader with more sound teaching about the problems with our current Federal Reserve system as well as how to fix it than entire shelves full of books by most authors.

Did I mention that this is a short book? Just to give you a sense of what I mean, it can be read in one sitting. When I re-read it for this review, it took me a little over two hours reading at a leisurely pace and taking notes. As John Robbins noted in his exposition of Philemon, many scholars make the assumption that nothing short can be profound. But this is a mistake. Gold, Peace, An Prosperity stands as proof of this.

Worth noting is that this book was first published in 1981. That is significant for the reason that Ron Paul was part of the Gold Commission convened by President Reagan at the time to study the possibility of returning the United States to the gold standard, an option that ultimately was voted down by the Commission. The next year, the Minority Report of the Gold Commission was published under the title The Case for Gold (see here for free pdf and epub downloads), which is considered something of a modern day classic by advocates of sound money. I would by all means recommend reading The Case for Gold, but I think Gold, Peace, An Prosperity is an even better place to start. While The Case for Gold provides more detail than Gold, Peace, And Prosperity, the latter is less technical in its language and much shorter, making it an ideal read for those just starting to learn about sound money, or, for that matter, those who would like a refresher course from one of the few statesmen of recent times who actually understands the monetary problems we face as a nation as well as what is needed to fix them.

In the first chapter of the book titled “Impending Social Strife?,” Paul writes, “We probably will see widespread civil disorder in the 1980s.” Looking back 38 years, some may be tempted to discount Paul’s argument for sound money by accusing him of being an alarmist. “You see,” they will say, “we didn’t have widespread civil unrest in the 1980s, so all this talk about economic collapse in 2019 is just so much conspiracy theory nonsense.”

What shall we say to this? Does the fact that widespread civil unrest did not occur in America in the 1980s refute Paul’s argument against the Fed and for sound money? No, it does not. While it may seem odd to many today that there was serious consideration of a return to the gold standard in the early 1980s, one has to remember the context. America had just gone through the terrible stagflation – stagflation was a term coined in the 1970s to describe a situation where there was simultaneous inflation and little or no economic growth, a state of affairs that the standard Keynesian economics of that time could not account for – of the 1970s that followed hard on the heels of President Nixon’s decision to take America off the Bretton Woods gold exchange standard in 1971. Just to give you a sense of the inflation of the 1970s, gold went from $35 dollars and ounce in 1971 to around $800 an ounce at its peak in 1980, a surge of roughly 2000%.

Second, all the problems that Paul identified in 1981 with the Fed are still with us today and are far larger than what they were when he first wrote. On October 22, 1981, 38 years ago almost to the day, the federal debt first topped $1 trillion. Today in 2019, it stands at over $22 trillion. According to this CCN article, the 2019 federal deficit – the deficit is the yearly amount by which federal spending outstrips tax revenue; the debt the total of all previous budgetary shortfalls – was $984 billion. Stop and think about that for a moment. It took the federal government over 200 years to accumulate $1 trillion debt, an amount it’s now adding on a yearly basis.

What Ron Paul did not foresee in 1981 was the cunning ruthlessness of the central bankers and the politicians to not only maintain the corrupt system, but also to expand it. In 1981, there was no Plunge Protection Team. No one had ever heard of Quantitative Easing and if anyone had spoken of negative interest rates, he would have been laughed to scorn. Yet the bankers, politicians and news media have managed not only to sell the public on all this financial flim-flam, but they make it seem downright normal. This was possible largely because the American people did not take to heart Paul’s warnings from 1981.

Ron Paul was right on target when he wrote, “The greatest threat facing middle and working class Americans is our depreciating paper currency.” This was true in 1981, and it’s true today in 2019.

I highly recommend Gold, Peace, An Prosperity. Not only is it a great primer on the dangers of the central banking, paper money and the importance of sound money, reading it makes me want to shout the title of a more recent book by Paul, End the Fed!

Chapters include: Foreword by Henry Hazlitt; Preface by Murray Rothbard; Impending Social Strife?; The People are Demanding an End to Inflation; Depreciation is Nothing New; “Not Worth a Continental”; The Best Medium of Exchange; Cross of Paper; How Our Money was Ruined; The Stage is Set; Is Business to Blame?; Are Banks to Blame?; Are Unions to Blame?; Inflation and the Business Cycle; The Guilt of the Economists; The Alternative to Inflation; Money and the Constitution; Morality and Transfer Payments; Citizen Control of Money; Day of Reckoning; Free Market Money?; Legal Tender Laws; An Historical Precedent; The End – or the Beginning; Index.

 

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Financial Crisis

A prudent man foresees evil and hides himself, but the simple pass on and are punished.

    Proverbs 22:3

It was back in August that we began our look at the ongoing 2008 financial crisis. The immediate occasion for my writing on this topic was the sudden plunge in the US stock indices following the Federal Reserve’s decision to raise interest rates in late July. The market sold off hard, but managed to stabilize, or more accurately, was stabilized by the powers that be after a phone call by President Trump with three major bank CEO’s.

This was a similar situation to what happened around the end of the year in 2018. On December 23, the day before the Dow and S&P indices had their largest ever declines on Christmas Eve, Treasury Secretary Steve Mnuchin placed individual calls to America’s six largest banks – Brian Moynihan, Bank of America; Michael Corbat, Citi; David Solomon, Goldman Sachs; Jamie Dimon, JP Morgan Chase; James Gorman, Morgan Stanley; Tim Sloan, Wells Fargo. When the market re-opened after the Christmas break on December 26, the Dow closed up 1,086.25 points, the largest single day gain in the history of the index. This huge day was after a terrible December and in the absence of any news that would have caused a market surge.

Was there a relationship between Mnuchin’s call on December 23 and the blast off in the stock market three days later? While this can’t be formally proven, in the opinion of this author it is the most likely explanation. In short, I think that Mnuchin told these CEO’s to buy the market and that they obliged.

If my understanding is correct, this means that at least twice in the period of eight months orders came down from on high to rescue the stock markets. What, I would ask you, does this say about the state of our financial system? What are we to think of a system that requires this level of manipulation to keep from crashing?

Of course, calls from Trump and Mnuchin are not the only sort of manipulation in the financial system. In the short time that I’ve been writing this series, we’ve seen additional extraordinary measures taken by the Fed to prop up the system.

First there was the bailout of the overnight Repo market. Originally, this was to be for a few days in September. Next, they extended it to a couple weeks. Then it got pushed out to the second week of November, then it was January 2020. Just last week, Fed President James Bullard expressed his preference for a “standing repo facility.” By this he seems to mean that he wants the current repo market intervention by the Fed to become a permanent policy tool of the central bank.

And that’s not all. Last week on Wednesday, the Fed started QE4. With this latest iteration of what in 2008 was termed an “emergency policy,” the Fed will by purchasing $60 billion a month in T-Bill (T-Bills are short-term US Treasury debt instruments). Where, you ask, does the Fed get the $60 billion per month to conduct QE4? They get it by a process that, were you or I to try it, we’d be arrested. In short, they counterfeit it out of thin air.

Here’s another question you may want to ask yourself. If the economy is doing so great as we’re constantly being told by the mainstream financial press, why is the Fed running simultaneous bailouts of both the overnight repo market and the bond market, both of which are designed to prop up the stock market? The obvious answer is that, far from being the greatest economy ever, the US, and indeed the world’s, financial markets are a mess and getting messier by the day. All the hype you hear about how great the economy is doing is propaganda designed to keep you locked into the system for the benefit of those who run it.

In light of the enormous lies that are being told to the American people by government officials, by bankers, and by the press, in the opinion of this author it is imperative that God’s people hear the truth about the financial state of the country and some sound advice about how to take measures to protect themselves financially. That is the purpose of this week’s installment.

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El Paso

A couple console each other near an El Paso Walmart where a mass shooting occurred Saturday.  Photo: Ivan Pierre Aguirre for The Texas Tribune

Mass shootings. What are Christians to make of them? But before we answer this question, perhaps we should sharpen the question a bit, asking instead, What are American Christians to make of them?

The obvious motive for my writing on this subject is the report from El Paso, TX, where another mass shooting has left many dead and injured, not to mention many other traumatized by the sinful violence of the event.

If that weren’t enough, I woke up this morning to hear of another mass shooting, this time in nearby Dayton, OH which reportedly has left 9 dead.

Oddly enough, both these shootings in far apart places – Dayton and El Paso are over 1,500 miles apart – both have a personal connection to me. El Paso is the home of several friends of mine from ThornCrown Ministries, while I personally know a man who currently serves as an officer on the Dayton police force. My friends are all safe, but clearly there are many people in both places who have suffered great loss.

The response from the news media and other Second Amendment foes is predictable: Guns are the problem and must be more strictly regulated. The ultimate goal of these people seems to be the complete disarmament of the American people.

As Christians, what are we to say to this? Certainly, in the wake of such tragedies it is tempting to go along with the anti-gun rhetoric. But we must ask, What does the Bible say about the right of private citizens to bear arms? Does Scripture prohibit private citizens from owning weapons, or does it support their doing so?

Another question related to this is what does the Bible say about criminal justice? Does the Bible call for crime punishment or crime prevention? How we answer these questions will serve to guide us as we evaluate the statements we see in the news concerning the El Paso and Dayton shootings.

The short answer to the first question is, yes, the Bible allows for private citizens to own weapons. To the second question, we answer that the Bible calls, not for crime prevention, but for crime punishment.

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