Bankruptcy of Our Nation (Revised and Expanded). Jerry Robinson

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СКАЧАТЬ the perplexities, confusion, and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit, and circulation.2

      — John Adams

      OVERVIEW: Money has taken many different forms throughout history: shells, feathers, salt, gold, silver, and paper currency. This chapter lays the groundwork for understanding the current crisis confronting the U.S. dollar by examining the underlying concepts of money. What exactly is money? How is it measured? What gives it value? In addition to answering these questions, this chapter will also explain the three types of money that have been used throughout history: commodity money, receipt money, and fiat money.

There is an old joke about money that goes something like this: “Money may not buy happiness, it sure does buy everything else.” Benjamin Franklin referred to man’s obsession with money this way: “He that is of the opinion money will do everything may well be suspected of doing everything for money.”3 Regardless of our own view of money, one thing is certain: Money is a necessity for life in this world.

      Before attempting to answer the essential question of what money really is, let us first consider how the American culture, and our own upbringing, has affected our view of money. From my own research, I have discovered that an individual’s view of money is determined by at least three fundamental factors.

      Economic System. The first and perhaps most influential factor that affects a person’s view or conception of money is the economic system into which the person is born. For example, a person born and raised in the United States is introduced to a capitalistic economic system from birth. The virtues espoused under capitalism include the right to private property, the division of labor, and individual rights.

In contrast, those who are born in China are taught to view money through the lens of a communistic economic system. Under communism, individuals have fewer rights and the government plays a much greater role in every aspect of life.4

      Family Financial Philosophy. The second factor that shapes a person’s view of money is the financial philosophy espoused by his family. Whether they realize it or not, parents are teaching their children by their words, and more importantly by their actions, about what is important in life. For example, a mother who spends excessive amounts of money teaches a different set of financial values to her children than a mother who is an avid saver or astute investor. The spendthrift mother is silently teaching her children that overconsumption is a desirable and perhaps even a virtuous act. Meanwhile, the mother who gains joy from saving and investing is teaching her children that preserving and growing money is far more important than spending it.

      To use another example, a father who exemplifies a strong work ethic to his children is teaching them that money is best earned through hard labor. In contrast, a father who runs his own successful business is silently teaching his children that money is best earned through a combination of personal hard work and by employing the efforts of others.

      Finally, some families treat the topic of money as taboo and rarely discuss it around their children. Inevitably, these families are teaching their children that silence about financial matters is preferable to openly discussing the topic.

      Spiritual Values. The third factor that ultimately determines a person’s view on money is rooted in their religious and moral understanding of life itself. For example, it is common for a person who has had a strict religious upbringing to view money as inherently evil.

      To illustrate this point, allow me to tell you about a Christian woman I once counseled named “Margaret.” Like many Christians, Margaret was taught from a young age that that money was unspiritual and dirty. Once, during a conversation with her, I asked her why she considered money to be evil. Apparently, this question was appalling to Margaret. She quickly retorted, “You are a minister! Don’t you read your Bible? The Bible clearly states that money is the root of all evil.”

      Margaret was feisty, to say the least. I decided to respond with a question of my own. (I’ll admit that I am a bit Socratic in my discussions on Christianity. By Socratic, I mean that when someone asks me a question, I will often reply with a question of my own. This is a method that Jesus used quite extensively. And if it was good enough for Him, it is good enough for me.)

      I politely replied, “Well, I feel rather embarrassed. I was not aware that the Bible said such a thing. Here, Margaret, here’s a Bible. Would you please show me where it says this so I can help others understand this, too?”

      “I do not know. But it is in there,” she replied with a tone of disgust.

      Knowing exactly the verse that she was taking out of context, I quickly turned my Bible to 1 Timothy 6:10 and read it aloud: “For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.”

      With her face aglow with a deep pride, she quickly chimed in, “That’s it. That’s the verse that I was talking about. Haven’t you ever read that before?”

      My Socratic tendencies would not allow me to give her a straight answer yet. It was too important for her to clearly see the folly of her logic. I responded, “Margaret, if this is true, do you realize how this changes everything that I have ever known and taught about money? In fact, I am thinking of another verse right now that I feel we should read, too. Can I read it to you?”

      With a smug assurance, Margaret nodded.

      I continued, “Well, if money is evil, then we better pay extremely close attention to this next verse. It is found in 1 Thessalonians 5:22. It says, ‘Abstain from every form of evil.’ Margaret, if this is true, and if money really is evil, then this means that you and I need to get rid of all of our money as quickly as possible!”

      Margaret laughed nervously and asked what I meant.

      With a more compassionate tone, I re-read 1 Timothy 6:10 to her and said, “Margaret, the Bible never says that money is evil. What this verse is saying is that the love of money is the root of all evil. If money itself was evil, then we would both be in violation of God’s Word simply by possessing it. Do you understand why this is an important difference?”

      Margaret took the Bible and read the verse again, as if for the first time. Then, the moment that I had been hoping for occurred as she gently said: “My father always told me that money was evil and those who had lots of money were not godly. But this verse does not say that, does it?” As she asked this question, her tone became much more accepting and friendly.

      “That’s right, Margaret. The Bible is extremely balanced in its view on money. In fact, the Bible never says that money is good or evil. You see, money is just an object. It is we humans who take money and perform good or evil works with it,” I said with even more compassion.

      Due to Margaret’s religiously dogmatic views on money, she had spent her entire life downplaying its importance in her life. She even avoided the topic out of perhaps an irrational fear that it was displeasing to God. This is just one example of how a person’s view of money can be shaped and influenced by their spiritual values. I believe money to be completely amoral. Money is not capable of being moral or immoral. It is merely an object. Instead, money can be used for good purposes or for bad purposes. Those who are searching for the morality of money do well to consider the intentions of its possessor, not the money itself.

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