Posted in Radio Lux Lucet | Tagged Gordon Clark, John Robbins, Scripturalism | 4 Comments »

Elisha Prophesies the End of Samaria’s Siege by Nicolas Fontaine, 1625-1709.
When beginning the Siege of Samaria series on Biblical economics, I never intended it to go on for more than two or perhaps three posts. Due to an embarrassment of material and positive response from the readers of this blog, the series stretched into five posts. In no small part the success of this series has been due to the generous support of Sean Gerety over at the God’s Hammer blog, who has been kind enough to republish my posts.
It’s certainly been an encouragement to me to see so many people interested in what the Bible has to teach us about economics. Most of the economic talk one hears in the mainstream media is misleading, and, I suspect, it’s designed to be that way. After all, if too many folks were to get wise to the economic evil troika of central banking, fiat currency and demand-side Keynesian economics, it would be a lot harder for the financial masters of the universe to loot the poor and middle class of the world for their benefit.
The lies of the statists enslave, but the truth of God’s Word makes men free. And it is to the end of furthering this truth that I have presented the series on Biblical economics.
And because Biblical economics is both a fascinating and worthwhile study, it seemed good to me to take this opportunity to share with others the intellectual ammunition I’ve found helpful in developing my understanding of the subject. Below is a list of resources along with my comments.
Posted in Economics, Scripturalism | Tagged Economics, Gordon Clark, Investing, John Robbins, Philosophy, Pope Francis, The Fed | 2 Comments »

I was shocked but not surprised. Shocked, because it’s so patently ridiculous. Not surprised, because it fits the same pattern we’ve seen time and again. I’m referring, of course, to the decision of FBI Director James Comey not to recommend charges be brought against Hillary Clinton over her mishandling of classified emails.
In a case such as this, it’s tempting to launch into writing some doom and gloom post proclaiming the end of the republic and, for that matter, the world as we know it too.
Ten years ago, John Robbins wrote a must read essay he titled The Religious Wars of the 21st Century, the basic thrust of which was that the ongoing civilizational collapse West, a collapse brought on by its rejection of the Gospel of Justification by Belief Alone, would lead to a terrible century of religious wars. Wars that would be all the more terrible because they would be fought with modern weapons in the name of the false medieval religions Islam, Judaism and Roman Catholicism.
Robbins had this to say about the collapse of the West,
The West has been in collapse for more than a century. The Biblical theology that created the Western civilization five hundred years ago has all be disappeared in the West. The rejection of Christianity in North America and Europe, and the rise of several false religions – including Arminianism, Romanism, Pentecostalism, atheism, and mysticism – have led to the collapse of the West. That collapse is marked by, or, more accurately, is the dissolution of the Biblical family (husband, wife, and children), the economic and political regimentation of the individual and business enterprises; government ownership and control of most educational institutions; the growth of crime; the waning of civility; the acceptance of public profanity, obscenity, and homosexuality; and the resurgence of brutality.
Robbins’ citation of the growth in crime is particularly apropos here. The sheer audacity of Hillary Clinton’s fraud – not just what Andrew Napolitano termed “her grossly negligent failure to keep state secrets in a secure venue,” but also the obvious manipulation of the justice system and the news media effected by her and her supporters – is breathtaking. I’ve never seen anything quite like it.
Woodward and Bernstein? Deep Throat? Forget ’em. Nobody needs those guys. Not when the Deep State oligarchy and its minions have gotten so brazen with their criminality that they hardly even both to hide it anymore.
According to Comey, he elected not to indict Clinton because there was no sign that Clinton meant to break the law. “We did not find evidence sufficient to establish that she knew she was sending classified information, beyond a reasonable doubt, to meet the intent standard,” Comey is quoted as saying.
But as Andrew Napolitano points out, “The espionage statue that criminalizes the knowing or grossly negligent failure to keep states secrets in a secure venue is the rare federal statute that can be violated and upon which a conviction may be based without the need of the government to prove intent.”
But beyond that, what part of setting up an unsecured server in her bathroom fails to rise to the level of intent? As former CIA Operations Officer Scott Uehlinger put it, “The fact that she set up a private server, in and of itself, means she is guilty of a felony right there. Obviously, by having a private server, she was conspiring to evade her signed sworn statements that she would uphold secrecy agreements. The fact that she simply established that (private server) regardless of what was on it, she intended to go around and circumvent the law.”
The FBI’s failure to recommend charges against Clinton is a travesty. One is reminded of Isaiah’s lament over Judah’s collapsing civilization. Wrote the prophet, “How the faithful city has become a harlot! It was full of justice; Righteousness lodged in it, But now murderers” (Isaiah 1:21).
So, is this the end of the republic? It’s tempting to say yes. But the truth is, none of us knows the future. When Isaiah wrote his lament, things looked pretty bleak for Judah. But not long after those words were penned, Hezekiah, one of the best kings ever to sit on the throne of David, would lead the nation to spiritual renewal. Has God’s arm been shorted that he cannot do the same in our time?
While we cannot say for certain that Hillary Clinton’s preternatural ability to dodge indictment represents the end of the republic, it is clear that the failure to charge her is a severe blow to the rule of law in this nation. If she’s allowed to get away with these crimes while a candidate, what she will attempt once in the Oval Office I care not to think about.
Posted in Politics | Tagged Hillary Clinton, John Robbins, Presidential Campaign 2016 | Leave a Comment »

Elisha Prophesies the End of Samaria’s Siege by Nicolas Fontaine, 1625-1709.
Inflation – What it is and what it isn’t (continued)
In the last installment of this series, I mentioned that the big takeaway point was the definition of inflation. As you may recall, we defined inflation a bit differently than is commonly understood. Most people, when they talk about inflation, mean to say that prices – the amount we pay for items such as gas or bread or rent – have gone up.
The most common statistic used to report rising prices is the Consumer Price Index (CPI). The CPI measures the cost of a representative basket of goods and services, comparing the average price of these items in one period with their average price in the following period.
When the CPI shows average prices going up from one reporting period to the next, the rising prices are reported in the news as inflation. Occasionally, average prices fall. When this happens, we are told that deflation has occurred.
But the definition of inflation that was presented in Part 4 of this series did not rely on measuring the average cost of goods. Instead, inflation was defined as the increase in the supply of money. Conversely, deflation was not defined as decreasing prices, but rather the decrease in the supply of money.
But even though inflation and deflation are not the same thing as rising and falling prices, there is a relationship among them. When the money supply increases, assuming the amount of goods and services in the economy remain the same, prices go up. Conversely, when the money supply falls, prices go down. As Peter Schiff puts it, “The money supply expands and contracts. Prices go up and down. Inflation and price increases are not the same thing. One is cause. The other is effect” (Crash Proof, 69).
Now you may be asking yourself why I bother to define inflation as I do. Isn’t the common definition of inflation good enough as long as we all agree that inflation is rising prices? Why confuse things be bringing in the concept of money supply?
The best argument for defining inflation as the increase in the supply of money is that it clearly identifies the cause of rising prices: central banks creating too much money, usually in response to governments spending too much money.
If we are satisfied with the usual definition of inflation, government officials can easily fool us into thinking that prices are going up for reasons that have nothing to do with their own policies. Bad weather, profiteering by greedy speculators and lack of sufficient governmental regulations are common scapegoats for rising prices, even though prodigal politicians and the central bankers that fund their wasteful spending are the real culprits.
Posted in Economics | Tagged Economics, John Robbins, Keynesianism, Money and Banking | 5 Comments »

In 1940, newly elected Prime Minister Winston Churchill rallied his countrymen to the looming Battle of Britain with the words, “Let us therefore brace ourselves to our duties, and so bear ourselves, that if the British Empire and it Commonwealth last for a thousand years, men will still say, This was their finest hour.”
I’m certainly not here to argue with Churchill’s assessment of his country’s finest hour. But if yesterday’s vote by the British to leave the European Union didn’t quite rise to the level of their stand against the Nazi war machine, it was, nevertheless, a most impressive feat. One I never thought I would see.
The globalists and oligarchs threw everything they could at the Brexit partisans, including their usual tired mix of fear mongering, dire warnings of economic catastrophe, and bogus charges of racism.
And it failed. All of it.
Likely, this won’t be the end of the issue. Globalists aren’t the sort to go quietly into that good night.
But for those who love liberty, this was a sweet victory. It proves that ordinary people can see the corrupt establishment demagoguery – the constant siren song wooing them trade their precious freedoms for a mirage of bureaucratic security – for the lie that it is. And it gives hope to others who seek to do likewise.
Posted in Politics, This 'n That | Tagged Economics, Foreign Policy, Homosexual Rights, John Robbins | Leave a Comment »

Elisha Prophesies the End of Samaria’s Siege by Nicolas Fontaine, 1625-1709.
My goal in this series is to demonstrate that many of key concepts of economics are either explicitly or implicitly taught in Bible’s account of the siege of Samaria as found in 2 Kings 6:24-7:20.
In Part One, we looked at 2 Kings 6:25 and what we could learn from the exorbitant prices people were paying for undesirable food under siege conditions. In Part 2, we looked at the relationship between two economics and politics. Especially, we considered how economic hardship is frequently brought on by the ill-conceived policies of politicians, who, being loath to take the blame themselves, often will attempt to find a scapegoat to divert public dissatisfaction away from themselves.
Today, I would like us to look at another important economic concept demonstrated in 2 Kings: opportunity cost. But before diving into that, perhaps it would be advisable to offer a definition of economics.
Economics, What is it?
In his lecture series on economics, John Robbins offered the following definition of economics: it is the study of the logic of choice.
That may sound a bit surprising to many people. It is common to think of economics as news about what the stock market did today, but that is history. Some may think of economics as mathematics. Still others, when they consider the subject at all, hold very negative views about economics. For example, 19th century Scottish thinker Thomas Carlyle famously dubbed economics “the dismal science.”
But starting with the axiom of Scripture, the idea that the Bible has a monopoly on truth, Robbins makes a strong case for his definition. He starts with four principle statements about man taken from Scripture:
- Men are rational creatures made in the image of God.
- Men always act purposefully.
- Men always act in their perceived self-interest.
- Only individuals choose/make plans/act.
From these concepts, Robbins provides us with the following chain of reasoning: To be human is to be rational > To be rational is to have purposes > To have purposes is to plan > To plan is to arrange ends and means (in other words, to choose). And economics, as Robbins defines it, is the study of the logic behind the choices we make.
Posted in Economics, Uncategorized | Tagged Economics, John Robbins | 2 Comments »
Today we may apply the Apostle’s words first to those (rulers) who without cogent cause inflict exorbitant taxes upon the people, or by changing and devaluating the currency, rob them, while at the same time they accuse their subjects of being greedy and avaricious.
– Martin Luther, Commentary on Romans 2:2, 3
Now, if the laws of buying and selling are corrupted, human society is in a manner dissolved; so that he who cheats by false weights and measures, differs little from him who utters false coin.
– John Calvin, Commentary on Leviticus 19:35
But if life is an equal value to all, there is something strange, when war comes and large military expenditures are necessary, in requiring the person who has saved for a life insurance policy to lose half its buying power by inflation, while the spendthrift loses nothing and enjoys high wages to boot.
– Gordon H. Clark, A Christian View of Men and Things, pp. 101-102
Posted in Economics, Uncategorized | Tagged Gordon Clark, Investing, John Calvin, Martin Luther, Money and Banking, The Fed | Leave a Comment »

Elisha Prophesies the End of Samaria’s Siege by Nicolas Fontaine, 1625-1709.
In the first installment in this series, we looked at some of the economic concepts taught in the Bible’s account of the siege of Samaria recorded for us in 2 Kings 6:24-7:20. In particular we looked at 2 Kings 6:25 and found that quite a bit of economics is packed in just that one verse. Today, we’ll continue the discussion of economic implications of Syria’s attack on the capital of the Northern Kingdom.
Politics, Economics and the Blame Game
As a kid, one of my favorite Saturday morning cartoons was Scooby Doo. The episodes were pretty formulaic, especially the ending where, as the bad guys were being hauled off to the paddy wagon, they inevitably would blurt out, “And I would have gotten away with it if it weren’t for you meddling kids!” They never blamed their downfall on their own criminality. It was all the fault of the interlopers.
Well, politicians are a lot like this. While being separate disciplines, politics and economics are closely related such that to talk about one often means brining up the other. This is especially common when a nation is struggling with economic difficulties.
And when economic troubles begin, so too does the blame game shuffle. Suppose the citizens experience a sharp upward spike in the cost of living, or wages stagnate or wave after wave of layoffs take place. Do the powers-that-be blame themselves? Of course not! Economic difficulty is NEVER related to the policies of the current president or Congress. No, not one bit.
The political class, and the academics whose ideas the politicians implement make it all very clear that they had nothing to do with the mess. We’re made to understand that our economic pain is always the fault of the intransigence of opposing party, or greedy market speculators, or bond vigilantes, or budget cuts, or lack of sufficient federal regulatory oversight, or not enough government spending, or cheap imports from China.
This blame game, this shifting of responsibility, is nothing new. In fact, we can say with confidence that it started six thousand years ago with Adam himself. As he put it in his own words, “The woman whom You gave to be with me, she gave me of the tree, and I ate” (Genesis 3:12). “It’s your fault, not mine!” That’s the gist of Adam’s argument to God.
Posted in Economics | Tagged John Robbins, Money and Banking, The Fed | 7 Comments »
Well, there were no gorilla shootings in Cincinnati this week. Or for that matter, giraffe, hippopotamus or hyena shootings either. And we can all be thankful for this. I know for my part I just really can’t take another week of listening to animal rights activists talking nonsense. Perhaps the most egregious offender in this regard was a gentleman from Cincinnati, who was quoted in the local paper referring to the departed gorilla as, “a fellow Cincinnatian” and a “400-pound person.”
Nope and nope. Animals are not people. People are not animals. See Genesis 1 for details.
Now then, let’s move onto the scintillating stories from this week.
Oligarchy and the American Jezebel
As the old saying goes, I was shocked but not surprised Monday night, a night when not a single Democratic primary vote was cast, to hear that Hillary Clinton had achieved the necessary delegates to seal the Democratic nomination for president.
It just so happened that scheduled the following day were primaries in California primary and New Jersey, and several other states. In the week leading up to the vote, polls in California indicated that Bernie Sanders and Hilary were neck and neck. And a loss there would have been a YUUUGE embarrassment both to Hillary and her supporters in the Deep State. In fact, a loss in California may very well have been the end of Clinton’s hopes to take the White House. And such things simply cannot be allowed to happen.
And they weren’t.
After Monday’s surprise announcement, Hillary went on to win California by a margin of 55% to 43% over Sanders.
No sooner had the polls closed but the MSM began its hagiography of Mrs. Clinton. And among the worst offenders in this regard, predictably, was CNBC. Their business and financial reporting, the networks raison d’être, is a pathetic mix of stock market cheerleading, Keynesian propaganda, and Federal Reserve worship. I stopped watching years ago. And given the networks ratings in recent years, so has nearly everyone else.
Nevertheless, I do admit to visiting CNBC online several times a day to check the markets. And what did I see there on Wednesday but the headline, “Trump’s going to get demolished by Clinton; Here’s why he needs to drop out now.” Yep. The Donald’s on the wrong side of history, according to the sages at CNBC. Just give up. Go home. It’s over.
I’m not here to flack for Trump, but the man just set a record for the highest vote total EVER in the Republican primaries. Somehow I doubt he’s going to listen to the advice of incompetent journalists at a dying cable network.
But back to Clinton. One thing that is almost never discussed regarding her campaign, even among Christians, is whether it would be Biblical to elect a woman as president. Questions of this sort are never asked by the MSM. Even a survey of blogs, podcasts and YouTube channels will show that almost no one, Christian or not, questions whether a woman could properly fill the role of Commander in Chief of the armed forces. The only question is whether she is qualified intellectually and ideologically to take the helm in the Oval Office.
But at least one Christian author has undertaken to answer that question. Paul Elliott wrote a piece a few years back titled Deborah & Esther: Are They Precedents for a Female President? And his answer to this question would likely shock and offend many, even many in the evangelical community. Elliott concludes,
The Bible tells us clearly that God has ordained male headship, and female submission to that headship, in the home, in the church, and in government…Because this is God’s ordained order, Christians must not seek to put a woman in the place of national rulership, no matter how much we may agree with her ideologically. To do so is, in fact, sin in the eyes of God.
Yes, Hillary is an appalling individual and will make a horrible president if elected. She was a disaster as Secretary of State. She’s an obvious felon. And she will continue Obama’s full-court press to further push the immoral LGBT agenda. In short, she will prove to be an American Jezebel.
But the answer is not for Christians to seek a better qualified woman to run against her. As with all areas of life, we must reason and act according to what Scripture teaches, and not according to the wisdom of this world.
Posted in This 'n That | Tagged Bernie Sanders, Donald Trump, Economics, Feminism, Gold and Silver, Hillary Clinton, Homosexual Rights, Investing, Money and Banking, Presidential Campaign 2016, The Fed | Leave a Comment »

Biblical Economics: The Siege of Samaria, Part 4
June 26, 2016 by Steve Matthews
Elisha Prophesies the End of Samaria’s Siege by Nicolas Fontaine, 1625-1709.
In our last installment, we discussed opportunity cost using the example of the four lepers at the gate of Samaria (2 Kings 7:3-5).
The prospects facing of these gentlemen were all seemingly poor. They could remain where they were and die, they could enter the city of Samaria and die, or they could defect to the Syrians and maybe die or maybe live. Choosing any one of the three options meant forgoing the other two opportunities.
Quite rationally, the lepers elected to forgo the opportunity of dying in Samaria, either outside its gates or within the city itself, for the outside chance that they might survive among the Syrians. The two options of dying in Samaria, we concluded, represented the opportunity cost to the lepers of their decision to go over to the Syrians.
The Samaritan Consumer Price Index
At the same time the lepers were reasoning among themselves about their opportunity cost, inside the city walls of Samaria another discussion was taking place.
By this point, King Jehoram of Israel had had quite enough of the whole siege business and was ready to take it out on someone. The most obvious scapegoat in his mind was the prophet Elisha. Such was the king’s anger with Elisha that he had dispatched one of his high ranking officers to take off the prophet’s head.
This came as no surprise to the prophet, who, apparently forewarned by God that a plot had been hatched against him, told those with whom he was sitting, “Do you see this son of a murderer has sent someone to take away my head? Look, when the messenger comes, shut the door, and hold him fast at the door. Is not the sound of his master’s feet behind him?” (2 Kings 6:32).
When the king’s messenger arrived, Elisha had a message for him. Said Elisha, “Hear the word of the LORD. Thus says the LORD: ‘Tomorrow about this time a seah of fine flour shall be sold for a shekel, and two seahs of barley for a shekel, at the gate of Samaria’ ” (7:1).
Incredulous, the officer responded, “Look, if the LORD would make windows in heaven, could this thing be?” To which Elisha answered, “In fact, you shall see it with your eyes, but you shall not eat of it” (7:2).
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Posted in Economics | Tagged Economics, Money and Banking, Scripture Commentary | 1 Comment »