Jul 17, 2011

ATTENTION Congress, Bernanke and Your Majesty !

Common Sense Commentary:   Deut. 25:15  "But thou shalt have a perfect and just weight, a perfect and just measure shalt thou have: that thy days may be lengthened in the land which the LORD thy God giveth thee."  In this first of God's commands for honesty in "weights and measures", given in 1451 BC, He was establishing the rules of buying and selling in the commerce of exchange of things of value.  This was extremely important since God knew that fallen human nature was inclined to  fudge a little (steal) from those they bartered or traded with.  In those days, vegetables, meat and grain were exchanged like money.  These weights and measures were soon simplified by the minting of coins of certain weights to reflect their value as compared to a certain amount of grain or whatever.  This led to the minting of one ounce, half ounce and quarter ounce gold and silver coins which in turn finally transitioned into paper, gold and silver certificates to simplify exchange so they didn't have to carry a bunch of gold and silver coins around. God said in the next verse of Deut. that anyone who violated this rule by tampering with the true, legal value of people's money was "an abomination unto the Lord" and those who were honest in these rules, that their "days would be lengthened".   This was so important to God because a persons grain, vegetables, wool and meat animals represented their time, labor, ability, and diligence.  In other words, their LIFE.  God has much to say about honest wages and honest money for that reason.  It was, of course, politicians who did away with gold and silver certificates because it limited them in how much  money they could  print up backed by real gold and silver in the vault.

Now look what an unrepairable economic mess they have made by not obeying God's "Rules for money".  I have said several times on this blog that our government only has two options with which to deal with the financial/economic problems they have created in this country.  The problem is by now obvious to anyone who can read.  Massive, Unpayable Debt is the problem.  "Massive" means 14.6 Trillion dollars in actual debt borrowed from our citizens and other nations by exchanging green, printed, beautiful Treasury Bonds, earning interest, for their money.   That doesn't count the common estimates of approximately 100 Trillion dollars in guaranteed Social Security, Medicaid, Medicare, Food Stamps, Unemployment, Home Loans, Government Retirement Debts and so on.

The fact is, we cannot even pay the interest on the measly 14.6 Trillion (14.6 Thousand Billion).
This is the main reason the politicians don't want the interest on that to go up by raising the interest rate.  They are frantically trying to hold it down.

In reference to this gigantic debt, I have said they only have two options .... DEFAULT (refuse to repay the debt as Iceland did) or just PRINT  up another 14.6 Trillion in dollars, load it up on a hundred or so container ships and send  "Paid In Full" statements for everybody on earth to sign.  Either way our brilliant Congress and President decide will destroy the buying power of the dollar and ruin our credit which is already falling like a burned out sky rocket.  The fallout will be equally devastating to our already ruined economy.  Both choices lead to a Greater Depression than 1929.

A third choice occurred to me this week.  It would be the best option of the three.  What is it?  Re- monetize gold and silver as money which it has already been for 6000 years until a few years ago. Forty one years ago you could take a $100 dollar bill to the bank and exchange it for silver at the going rate.   "Silver Certificate" was printed right on the bill.  That fact limited the amount of currency the Federal Reserve could print to the amount of silver in the vaults.  Gone With The Wind. 

The only problem with this option is, our government has sold the thousands of tons of strategic silver we had in reserve into the electronics, hi-tech and other industries and we have no more silver reserves.  Our national gold reserves haven't been audited in 30 or 40 years but they claim to still have about 8000 tons of gold in reserve.  If that is true, just to pay our 14.6 Trillion dollar debt, each ounce would have to be worth $70,000.  It has risen several hundred percent in the last ten years to nearly $1,600 per ounce from $250.   Well, now that I've typed my idea, that one won't work either.
Pr 16:11 "A just weight and balance are the LORD’S: all the weights of the bag are his work."If it is His Work ..... it is HOLY WORK.   That is why I am compelled to cover it here. People's money represents whatever amount of their time, talents, labor and diligence they GAVE OF THEMSELVES to earn that money.  So it cost them part of their lives in exchange for it.  God is concerned with people's welfare. Politicians, hear this.  Do not steal people's savings and the value of their money with inflation .... or deflation for that matter.  God spoke to that subject.

Pass it on. RB

1 comment:

Bob Blair said...

Amen and amen!