Professional Documents
Culture Documents
Dan Smithwick
Nehemiah Institute
Topics of presentation
Overview of banking
Not currency!
Characteristics of money (commodity)-
1. Divisibility
2. Durability
3. Recognizability
4. Transportability
5. Scarcity
Types of Money (Commodity)
Bank “banca”
Creation of Central Bank
(Federal Reserve System – 1913)
Creature From Jeykll Island
$9,000
Called: Fiat money
$1,000
And God said,
“Let there be--.”
New commodity-
R.I.P.
X
1900-1973
Historical review--
wealth money currency
Modern-day practice-
wealth Removal of
commodities Currency as money
Paper as commodity-
Yes Divisibility
____
Yes Durability
____
Yes Recognizability
____
____
Yes Transportability
No Scarcity
____
Lev 19:35,36
You shall do no wrong in judgment, in
measurement of weight, or capacity. 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.
Doctrine of ‘money’
Proverbs 16:11
A just balance and scales belong to the LORD; All
the weights of the bag are His concern.
Proverbs 20:10
Differing weights and differing measures, Both of
them are abominable to the LORD.
Doctrine of ‘money’
Deut. 8:18
But you shall remember the LORD your God, for it is He who
is giving you power to make wealth, that He may establish
His covenant which He swore to your fathers, as it is this
day.
Point:
Sound money comes only with sound theology.
Financial crisis
State of Future of
U.S. Economy U.S. Economy
1913 2020?
Worldview of youth
Biblical Theism
Two choices