AT THE END OF THIS POST READ ABOUT THE “CANTILLON EFFECT“–THE FIRST RECIPIENTS OF NEWLY-CREATED CURRENCY AND CREDIT [OUT OF THIN AIR] BENEFIT AT THE EXPENSE OF OTHERS, ESPECIALLY THE POOR [AND THIS IS AN ABOMINATION TO GOD]. Richard Duke
Different weights and measures in the Bible, refer primarily to debasing coins—placing debased materials in silver or gold coins—less gold or silver content. This is debasement [inflation] and IT IS AN ABOMINATION TO GOD. In the world (social order established by humans) today we have counterfeit paper and counterfeit digital entries–of currencies and credit. Just because the government gives legal tender status to this counterfeit currency and credit Does NOT CHANGE THE FACTS THAT IT IS COUNTERFEIT IN OPERATION AND DOES NOT CHANGE THE FACT THAT IT IS AN ABOMINATION TO GOD. Richard Duke
10 Divers [different] weights, and divers measures, both of them are alike abomination to the Lord.
35 ‘You shall do no wrong in judgment, in measurement of weight, or capacity.
36 You shall have just balances, just weights, a just ephah, and a just hin; I am the Lord your God, who brought you out from the land of Egypt.
37 You shall thus observe all My statutes and all My ordinances and do them; I am the Lord.’”
Micah 6: 10-16
10 Are there yet the treasures of wickedness in the house of the wicked, and the scant measure that is abominable?
11 Shall I count them pure with the wicked balances, and with the bag of deceitful weights? [modern day fiat currency and fiat fractional reserve credit]
12 For the rich men thereof are full of violence, and the inhabitants thereof have spoken lies, and their tongue is deceitful in their mouth.
13 Therefore also will I make thee sick in smiting thee, in making thee desolate because of thy sins.
14 Thou shalt eat, but not be satisfied; and thy casting down shall be in the midst of thee; and thou shalt take hold, but shalt not deliver; and that which thou deliverest will I give up to the sword.
15 Thou shalt sow, but thou shalt not reap; thou shalt tread the olives, but thou shalt not anoint thee with oil; and sweet wine, but shalt not drink wine.
16 For the statutes of Omri are kept, and all the works of the house of Ahab, and ye walk in their counsels; that I should make thee a desolation, and the inhabitants thereof an hissing: therefore ye shall bear the reproach of my people.
Mises explains inflation so that one can understand why debasing currency (unequal weights and measures) IS AN ABOMINATION TO GOD
They are waxen fat, they shine: yea, they overpass the deeds of the wicked: they judge not the cause, the cause of the fatherless, yet they prosper; and the right of the needy do they not judge. Jeremiah 5
Thornton begins with an important discussion of money creation and Richard Cantillon, writing: “… Richard Cantillon (1680s-1734?) [was] the first economic theorist and proto-Austrian economist …[he] showed how the interest rate and the money supply can create changes and distortions in the economy, a phenomenon now referred to as “Cantillon effects.”
Monetary inflation is affected by who gets the money and credit first and who gets it last. As fiat money is created by central banks, private banks are in a position to expand the amount of loans they make. The wealthy have established relationships with the banks, and they have the real estate and assets to provide collateral for the loans. Large, established companies and wealthy individuals are in favorable positions relative to small businesses and people with low or average incomes. The loans allow big companies and wealthy individuals to invest in capital goods during the boom phase of the business cycle. Central banks thereby create artificial inequality and poverty. This is the primary Cantillon effect of redistributing wealth.”