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Posts Tagged ‘The Fed’

Financial Crisis

A prudent man foresees evil and hides himself; The simple pass on and are punished.

    – Proverbs 27:12

In light of the recent upheavals in the financial markets, it seemed good to me to take this occasion to update my comments on ongoing financial crisis. I say ongoing, because it is my contention that the crisis that first manifested itself in 2008 has never really gone away.

In Ezekiel we read God’s complaint against the prophets of Israel. At one point he says, “Because, indeed, because they [the prophets] have seduced My people, saying, ‘Peace!’ when there is no peace – and one builds a wall, and they plaster it with untempered mortar – say to those who plaster it with untempered mortar, that it will fall. There will be flooding rain, and you, O great hailstones, shall fall; and a stormy wind shall tear it down. Surely, when the wall has fallen, will it not be said to you, ‘Where is the mortar with which you plastered it?’ ”

Such a wall, one built with untempered mortar, may appear sound. But when faced with the elements, it’s shoddy construction becomes evident to all.

In his Sermon on the Mount, Jesus expressed a similar idea when he compared the man who built his house on sand with the man who built upon the rock. For all we know, the house built on sand may have been beautiful in appearance, but it lacked a firm foundation and it fell. The house built on the rock took the beating and stood strong.

It is the contention of this author that the relative prosperity that the West has enjoyed since 2008 is rapidly coming to an end for the same reason that both Ezekiel and Jesus described: The real causes of the 2008 crisis have never been addressed, only papered over with fake solutions. Fakery, it would appear, is coming to an end.

In the following post, and perhaps posts, I’d like to explore at least some of the factors that are driving the West to bankruptcy. I’d also like to discuss what Christians can do to prepare themselves for the difficult financial times that lie ahead. Finally, I’d like to discuss what Christians can do once the collapse occurs to begin to rebuild our civilization on a sounder footing than we have today.

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Please click the link below the story quoting Pippa Malmgren stating “there’s no price discovery anymore” http://www.zerohedge.com/news/2015-02-23/ex-plunge-protection-team-whistleblower-governments-control-markets-there-no-price-d

Please click the following link for Sean Gerety’s article Faith Alive http://www.trinityfoundation.org/latest.php

 

 

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Elisha Prophesies the End of Samaria's Siege

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.

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meltdown-620Today 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

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Elisha Prophesies the End of Samaria's Siege

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.

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ready for oligarchyWell, 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.

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Elisha Prophesies the End of Samaria's Siege.jpg

Elisha Prophesies the End of Samaria’s Siege by Nicolas Fontaine, 1625-1709.

The Bible has a monopoly on truth. This simple idea is basic to the entire Scripturalist enterprise. Yet while the idea itself is simple and ought to be taught and understood by every Christian, it’s one that often is denied.

 

Speaking for myself, many times I’ve fallen into the trap of thinking that the Bible is good for learning about God and salvation, but it’s not a textbook on economics, or politics or history. Revelation alone is the source of all knowledge, but my belief that Bible is not a textbook on fill-in-the-blank was a sinful denial of this premise.

I mention this by way of introduction to today’s post on Biblical economics. and for today’s lesson, I’d like to look at the siege of Samaria as related in 2 Kings 6:24-7:20.

The Siege of Samaria

Samaria was the capital of the Northern Kingdom and had come under attack by Ben-Hadad, king of Syria. Sieges in the ancient world were horrific events, and doubtless left survivors deeply scarred both physically and emotionally. For example, when the Assyrians were threatening to besiege Jerusalem, the commander of their army told Hezekiah’s representatives and all the people who were assembled on the city wall, “Has my master sent me to your master and to you to speak these words, and not to the men who sit on the wall, who will eat and drink their own waste [during the coming siege of Jerusalem] with you” (Isaiah 36:12). And this leaves unsaid the lack of sanitation, disease, stench and death that would all be part of the package deal.

Regarding the siege of Samaria, the Bible tells us, “And there was a great famine in Samaria; and indeed they [the Syrians] besieged it until a donkey’s head was sold for eighty shekels of silver, and one-fourth of a kab of dove droppings for five shekels of silver” (2 Kings 6:25).

There are a number of important economic ideas packed into this verse. Let’s take a look at them.

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