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

a believer and follower of Jesus Christ, it is my earnest belief that hope is never completely lost, because God’s sovereign plan of the ages will forever prevail — no matter how desperate things may appear on the surface. But if my brief time on this earth, and my understanding of history, have taught me anything, it is that only fools place their trust in man’s ability to rule himself. In fact, if history is a guide to anything, it is a guide to the consistent knuckleheaded acts of mankind throughout the ages. From a spiritual perspective, I believe that mankind’s current predicament stems from the fact that man was not designed nor was he ever meant to rule himself. According to an orthodox view of the Christian faith, human suffering is rooted in man’s rejection of the omnipotent rule of his Creator. When given a choice, man opted for self-rule. This ancient act of rebellion, in the Garden of Eden, explains humanity’s pain and suffering over the last 6,000 years. And if we choose to believe the Bible when it explains that mankind’s rebellion will become worse with time, it would also explain why the 20th century has been noted as the “bloodiest century” on record.9 (Ironically, the 20th century has also been labeled the “American Century.”)

In many ways, America represents the culmination of all that man has ever aspired to: life, liberty, and the pursuit of happiness. And yet despite the amazing personal freedoms, rights, and liberties that the “American experiment” graced upon the Western hemisphere, man’s inability to lead himself has continually bubbled to the surface. Unable to personally rid himself of his true sin nature, man has attempted in vain to cloak his inherent deficiencies at self-rule. As a result, America is following the same path as every economic empire before it. And lest we confuse ourselves, American Christians must quickly grasp this point: America is not the light of the world. The sun shone before America was here, and it will continue to shine long after our nation’s self-inflicted demise. So let us not proceed in shock or surprise at the complex political and economic webs that have been woven in America. Despite what the Western-centric thinker may suggest, the ancient writings of the Bible are clear. They confirm that the biblical prophecies concerning the “last days” are Israel-centric and Middle Eastern-centric. They are anything but America-centric. In other words, I believe that the Bible clearly suggests that the global political and economic spotlight will be firmly transferred to this volatile region in the coming years.10

      Put simply, America’s fall is historically identifiable, though unfortunate. And it is all but certain.

      Endnotes

1. Laura Smitherman, “Personal Savings Rate Dips to Zero for First Time Since Great Depression,” The Baltimore Sun, January 31, 2006.

2. For the most up-to-date personal U.S. savings rate, see the report on Personal Income and Outlays from the Bureau of Economic Analysis, http://www.bea.gov/national/index.htm#personal.

3. From a 1900 campaign poster for the Republican party, July 12, 1900.

4. Paul Eckert, “Analysis: Pinched U.S. Seen Holding onto Big Pacific Presence,” Reuters, http://www.reuters.com/article/2011/08/12/us-usa-defense-asia-idUSTRE77B0K020110812, August 12, 2011.

5. Ibid.

6. Ibid.

7. “Russia confirms 2011 defense spending hike,” UPI, http://www.upi.com/Business_News/Security-Industry/2010/11/10/Russia-confirms-2011-defense-spending-hike/UPI-91241289393180/, November 10, 2010.

8. David L. Wood, Why Worry About the Gradual Loss of Our Liberties? (Oakland, OR: Elderberry Press, 2003), p. 36.

9. Numerous biblical references point to the increase of wickedness as mankind nears what the Apostle Paul called “the last days” (2 Timothy 3:1–5). See also Matthew 24:12. For documentation on the 20th century being termed the “bloodiest century,” see Niall Ferguson’s book, The War of the World: Twentieth-Century Conflict and the Descent of the West (New York: Penguin Press, 2006).

10. The writings of the biblical prophets Daniel, Ezekiel, Zechariah, and the Apostle John, envision a time when the Middle East, and Israel, in particular, play the dominant role in the fulfillment of biblical prophecy. See Daniel 2 and 7, Ezekiel 38 and 39, Zechariah 12, and the Book of Revelation. See also the Olivet discourse, which provides an overview of the “last days” as delivered by Jesus Christ himself in Matthew 24, Mark 13, and Luke 21.

      Chapter 1

      What Is Money . . . Really?

Permit me to issue and control the money of a nation, and I care not who makes its laws.1

       — Mayer Anselm Rothschild of the Rothschild banking family

All 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