Who Is To Blame For The Financial Crisis?

12 10 2008

Its an oft-heard misnomer that the contraction of credit (or “freezing up” of the credit markets as the talking heads repeat incessantly) is the grand villain which threatens our financial freedom. But rather, it is credit itself which is our financial Ahab, and usury our Jezebel.

And it is no less true that just as God gives us rulers which reflect the condition of our own heart, he has given us financial taskmasters which do the same. For during this present time, when God is shaking out the kingdoms of this world and calling the extortioners to account, should not God’s people be rejoicing? And yet we seem as distressed and in peril as they! Perhaps we should consider the extent to which we have thrown in our lot with Babylon the Great by “investing” our resources in it, enticed by its hollow promises of profits without liability.

One of America’s greatest Congressman said this:

Many of us were children when the extortion began, and we can hardly blame our parents for permitting the initiation of what we have allowed to be developed into a full-fledged, scientific, legalized system of extortion. But now, since we understand its effects, our children ought to look back on us with shame if we permit its continuance. It is not the bankers who have primarily fastened upon us this system of capitalizing our life energies for their own selfish use. It is the banking and currency system, which we have allowed to remain in operation, and create special interests. The people alone have the power to amend or change it. Therefore we and not the bankers are responsible for the existence of the present system.

~ Charles A. Lindbergh, Banking and Currency and The Money Trust, National Capital Press, 1913, p. 47.

Let us not be men upon which our children must be ashamed. Let us remove ourselves, our families, and our communities from the tentacles of this monstrous “money” system, and bequeath to our children the gifts of freedom, a noble heritage, and an example that the promises of God are more precious than the promises of usurious mammon.




One response

12 10 2008
Boyd Livingstone

Thanks, Floyd, for the words of exhortation.

I was hoping that I might get an invitation to hear the proceedings of the G-7 over the weekend, but I guess my invitation was lost in the mail.

I think that I have mixed feelings about rejoicing in what could be the demise of the extortioners. On one hand, I find a certain fascinating interest in the proceedings, while on the other hand I recognize that the majority of my neighbors have, perhaps unwittingly, thrown themselves into the fray.

It can be difficult to detach one’s family from the tentacles of the great society. We’ve been trying for some time to move in that direction, but are not quite there.

I think the heaviness in my heart stems from the knowledge that even in the pale of the church, not many preachers have faithfully taught the whole counsel of the Word as it applies to finance. Many well intentioned believers have bought into the status quo.

A few have tried, no doubt, only to glean a smile and a wink across the room. “Ahh, off on that tangent again. Well, he’s a good hearted rascal anyway!”

Of course, while American are outraged at the $440,000 spent by the AIG execs, they are still looking forward to Hanks and the rest of the rescue team, hoping that the free flow of credit will resume and continue. I heard on the news “The government just has to do something!” by one alarmed 401K contributor. So we have come to that, have we? I fear that perhaps more is being done that they know.

Barnes captures the truth of the sad end of the wicked: “Alas! what multitudes there are who thus live—whose only aim is to secure the wealth and the honors of this life—who have no more thought of a future state, and who form no more plans in regard to a future world, than do the brutes!

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