preserving the free market
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Preserving the Free Market
Dan SmithwickNehemiah Institute
Topics of presentation
Overview of money- what is it?
Overview of banking
State of economy- why the mess?
Overview of Free Market Course
Certification process
Completion of full PEERS Test with reasonable results
Review of Free Market PP Presentation
Complete review of Free Market course
Good standing with local church
Quiz-
Which is more accurate-
A: Wealth produces money
or
B: Money produces wealth
Wealth & Money in the Bible
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
WEALTH VS. OTHER KEY THEMES IN THE BIBLE
Which is more accurate-
A: Wealth produces money
or
B: Money produces wealth
Correct Answer: A
Wealth vs. Money
Wealth- 1) Accumulation of natural assets
OR, 2) Conversion of raw assets into objects of perceived value.
Freedom to respond to gifting and calling of God
Money
A convenient commodity to facilitate ease of trading wealth between consenting individuals
Commodity: Physical object of perceived value
Not currency!
Characteristics of money (commodity)-
1. Divisibility
2. Durability
3. Recognizability
4. Transportability
5. Scarcity
Types of Money (Commodity)
Over 30 objects have been used
Creation of Banks
Duty-
Hold commodity and issue notes (currencies) to depositors which could be passed between consenting individuals for free-market exchange of goods and services.
Bank “banca”
Creation of Central Bank(Federal Reserve System – 1913)
Creature From Jeykll Island
Gang of 7 met with undisclosed purpose
Devise secret plan to:
1. Create ‘money’ out of nothing
2. Loan it out to public for interest
3. Become super wealthy
Creation of ‘Fractional Reserve Banking’
Customer deposits $1,000 Bank is required to keep 10% on reserve ($100), can
loan other $900, for interest Recipient of $900 loan deposits funds in his acct Bank must keep 10%, $90, can loan $810 Repeat, repeat,--- Can ultimately result in $9,000 of new “money”
Result of ‘Fractional Reserve Banking’
Called: Fiat money
Fiat- “let it be”
$9,000
$1,000
And God said, “Let there be--.”
New commodity-
X1900-1973
R.I.P.
Historical review--
wealth money currency$
Modern-day practice-
wealth Currency as moneyRemoval of
commodities
Paper as commodity-
____ Divisibility
____ Durability
____ Recognizability
____ Transportability
____ Scarcity
Yes
Yes
Yes
Yes
No
What is the result of ‘paper money?’
Currency inflation
Doctrine of ‘money’
Biblical doctrine of ‘just weights and measures.’
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 ofU.S. Economy
Future of U.S. Economy
1913 2020?
PEERS Trend Analysis
95% of Christian youth
2014-18
Key questions-
What is needed for creation of real wealth?
The fear of the LORD is the beginning of wisdom: and the knowledge of the holy is understanding.
(Proverbs. 9:10)
W ODS
How does one acquire wisdom?
I M
Politics How we govern
Economics How we prosper
Education How we learn
Religion What we worship
Social Issues How we relate
Worldview Categories
Two choices
“Obama” Plan Nehemiah Plan
Print more money Study/obey God’s Word
Course: Preserving the Free Market
Biblical Principles of Economics
Biblical Principles of Government
Course of Action- Where do we go from Here?
Course: Preserving the Free Market
Cost: $39.95 per person; $59.95 per couple(includes PEERS Test, taken in advance)
Length: 8 weeks at 50-minute sessions 12 weeks at 80-minute sessions
Call:1-800-948-3101
Certified Instructor Benefits
Teacher’s Edition
Set of Enhanced Position Papers
Power Point files
Sample Brochures & Business Cards
25% discount on Class Member Booklets
Ongoing training with Dan Smithwick
One-time certification fee: $95.00
The end--
“Come, let us build—”Neh. 2:17
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