Believing Mammon’s Monetary Illusions - Burning Alight: 12 Endtime Fuses – Part V

By Wilfred Hahn ((Eternal Value Review)

We continue with our theme of 12 endtime fuses. Crucially, each of these “fuses” identifies a shift in mankind’s beliefs of endtime significance. This segment of the series discusses the 6th of these—a willing conversion to the immorality underlying a global economic/monetary system.

Money—assuredly one of the key factors that makes humans different from animals—is the commandeered medium of Mammon. Its strategic significance in the cosmology of mankind is more than it just being the chief temptation that qualifies “the love of money” as being “the root of all kinds of evil” (1 Timothy 6:10). Crucially, “money systems” also play a strategic eschatological role as can no other form of earthly rule. Why is this the case?

There is no more effective earthly way of controlling the entire world than through a worldwide money system. This offers an essential and strategic possibility to Satan and his hierarchy of fallen angels. They do not have omnipresence as does God, so they must use other means to achieve their objective of leading the entire world astray, the Bible tells us: “[…] that ancient serpent called the devil, or Satan, who leads the whole world astray” (Revelation 12:9). And, as is usually the case, “the way of Balaam” (2 Peter 2:15) lures many to complicity with this system that is also energized by the “love of money.”

That there will be such a controlling money system can be deduced from Bible prophecy. Revelation 13:17 tells us that it will be possible someday to control buying and selling worldwide. How is that achieved? With a closed, global financial system, outside of which no commerce can be possible, as is already the case for the most part today.

But how does such a system come about? It requires cooperation in the beliefs and confidence of most all mankind. If this were not so, there could be no global integrated system of money and commerce. These required beliefs of humanity have contributed to the proliferation of just such a system relatively recently … these being the acceptance of the theories of modern macroeconomics and monetarism.

Readers may be surprised to learn that this system is really dependent upon “beliefs.” As such, this trend qualifies as one of our 12 endtime “burning” fuses. We will explain why, as well as the potential for its rather sudden impact.

Recent Unorthodox Trends in Central Banking

As has been happening in recent years, central banks have created a lot of money … literally out of thin air. Consider the scale of these central bank interventions. Globally, we note that the 8 largest central banks of the world have expanded their balance sheets (an indication of how much printed money they are pushing into the commercial banking system as well as non-bank sectors) from $5 trillion to $15 trillion since 2007. These figures are shockingly large, yet few are warning about the disastrous consequences for the world.

Today, these central banks have swelled in size to the equivalent of nearly 25% of world GDP (gross domestic product)! This is incredible, as no one would have thought this possible even a few years ago. Yet, recently, the Bank of Japan has upped the recklessness even more, in relative terms virtually tripling the money creation of even the U.S. Federal Reserve.

Such central bankers as Dr. Ben Bernanke (head of the U.S. Central Bank), Mario Draghi (head of the European Central Bank), and Haruhiko Kuroda (the new head of the Bank of Japan) are the most powerful men in the world. They are celebrated today for their actions of massive illicit money printing and contributing to increasing government indebtedness. In this they are considered to be acting lawfully, and moreover, are considered geniuses for having supposedly forestalled deeper economic recessions.

But, the kudos are much too early. The final and most terrible consequences have yet to come. Observers and commentators confuse the pleasures of sin with the wages of sin. Short-term deferrals only lead to greater consequences over the long-term. The Bible outlines the folly of denying these truths. The world is assured that it will reap what it sows. “Whoever sows to please their flesh, from the flesh will reap destruction” (Galatians 6:8). Yet, for the time being, the world chooses to believe what it wants to believe.

No Escape of Consequences

Once on the path of infinite money, there is no easy road back. The ability to “create” unlimited money (whether technically, temporarily, or permanently) is a most powerful policy tool. Yet, the fact remains that governments alone cannot create wealth or growth. They may be able to delay the consequences of bad policies. But they cannot prevent the inevitable and consequential damages. Ultimately, all destruction of productive capital and illicit wealth transfers will come to roost, though its results may be diverted for a time.

God did not give mankind the ability to create wealth through money falsehoods, but only through labor and savings. Nevertheless, the human race has always been prone to believe “get rich” schemes. In this sense, modern-day central bankers and macroeconomists delude themselves, as well as all people who put their hope in them.

There is no such thing as a free lunch. Similarly, there is no such thing as costless, fabricated money or effortless prosperity. Ultimately, all money is owned by someone or some entity. When money is created fictitiously by the stroke of a pen, it may seem effortless, but it is not free. Over time it causes painful societal distortions, economic dysfunctions and uneven wealth distribution. It all leads to (or is symptomatic of) increasing distrust and lawlessness at many levels.

How did this state of false money come about?

The History of Fractional Reserve Banking

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