Rich men, weep and howl for your miseries that shall come upon you

How Fiat Money Destroys Culture–Guido Hülsmann

 

The Ethics of Money Production: Accessible and Wise

 

James 5:1-6

Go to now, ye rich men, weep and howl for your miseries that shall come upon you.

Your riches are corrupted, and your garments are moth-eaten.

Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

Behold, the hire of the laborers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of Sabbath.

Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.

Ye have condemned and killed the just; and he doth not resist you

SEE:

Debasement and Crony Capitalism; Nothing is New Under the Sun

 

Isaiah’s Critique Of Inflation—Gary North

 

Prophets and priests (pastors) judge not the CAUSE of the fatherless, and the RIGHT of the needy; yet they prosper

 

Commands of the Bible that are being ignored–shout

 

Richard Duke:

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.”

Thornton shows that the biggest winners come from the Federal Reserve and the bank system’s creation of newly created currency and credit are the U.S. Government, its large contractors, such as weapons manufacturers, big banks, and Wall Street. The losers are also revealed: the labor class consisting of private-sector workers, those on pensions or fixed incomes.

Review by Richard Duke on the Mises Institute website of the book: The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century by Dr. Mark Thornton

 

Isaiah 58:1: Cry aloud, spare not, lift up thy voice like a trumpet,..show their transgression, and their sins

 

Praying against evil and evil men

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