Thursday, June 18, 2009
We Must Change
As the above video series indicates, the Federal Reserve System is wicked and manipulative. When you go to take out a loan at a bank, the money that the bank lends to you is not money that has been deposited into someone’s savings account. The bank itself may not be one of the privileged few that can create money out of nothing, but they borrow money from (Central) banks that can. Of course, there are the restrictions on how much money these banks can create (fractional reserve requirements) and how much interest they can charge (the prime rate), but every time they do this, they are essentially robbing every American (or anyone holding U.S. Dollars) of the value of their money. The system encourages people to live beyond their means, and as, you may already see (explained further below) leads both citizens and governments into an endless cycle of debt.
THE FEDERAL GOVERNMENT ITSELF DOES NOT CREATE NEW MONEY. They borrow it from the Federal Reserve.
Now, whenever a loan is paid off, the principal (but not the interest) ceases to exist, just as it was created when it was loaned. So the banks get to earn interest on money that was created out of thin air. Almost all of the U.S. dollars that exist were created this way—out of debt. Therefore, this is a system of perpetual indebtedness to the banks. There is only enough money loaned out to pay back the principal of the loans. Every time you take out a loan at bank, you are creating debt that can NEVER be paid off. Even if the bank repossesses someone’s car, house, or other property, these things can’t be used as currency—they must be sold for paper money because it is the only “legal tender”—the only thing that will feed the monster we have created. It will get worse and worse until the system collapses or we ABOLISH THE SYSTEM ENTIRELY (unless, as the video series points out, we sustain exponential economic growth indefinitely). The U.S. DOLLAR IS AN ELABORATE PONZI SCHEME (OR PYRAMID SCHEME).
When Adam and Eve sinned in the Garden of Eden, God said:
…cursed is the ground for thy sake; in sorrow shalt thou eat of it all the days of thy life; Thorns also and thistles shall it bring forth to thee; and thou shalt eat the herb of the field; In the sweat of thy face shalt thou eat bread, till thou return unto the ground; for out of it wast thou taken: for dust thou art, and unto dust shalt thou return.
Genesis 3:17-19 (KJV)
This punishment for sin was a necessary consequence of God's sense of justice. But it made it harder for mankind to abstain from sinning. Because it then took hard work to get things to grow for food, there was more temptation to steal and kill for it instead. And in turn, other sins became more enticing as well. Later God established a covenant with Israel by which their sins could be “rolled back” through performing sacrifices. But just as the debt of money (under our current system) can never be paid off, so too was it impossible for the sins of mankind to be paid under the Old Covenant. Just as the incurring of debts under the Federal Reserve System inevitably leads to more debt and eventual collapse, so also sin inevitably leads to more sin and eventually death (both physical death and eternal separation from God). But when Christ died on the cross, the “system” of sin and death was changed. To be saved from eternal death you must believe in the One sent by God, admit that you are morally bankrupt, and turn away from sin. This is our “bankruptcy protection” from sin.
I applaud activists of various political stripes whose efforts are dedicated to restoring sound money and abolishing the Federal Reserve. But I suspect that their efforts will ultimately fail without spiritual revival. Christ is the only one who can “change the system” so as to eliminate the source of all corruption. To read more about how to saved from the curse of sin, click here.