On the basis of Biblical benchmarks of truth and righteousness, we made the
statement in Part I of this article series that for the most part, the
prescriptions and advice of the modern-day political economic establishment
are corrupt and immoral. Let’s next cite a few simple examples as proof.
It is a virtual consensus today that countries need to have their own
currencies if they are to weather the unwanted consequences of their unwise
fiscal or monetary policies. Why? So the better that they can shove the
burden of their economic misalignments upon the rest of the world through
currency debasement. In a number of ways, this is the same as stealing. It
forces losses on foreign creditors and also has the stealthy impact of
illicitly transferring wealth. But that would be considered inconsequential.
To do so is considered “wise policy,” endorsed by the most revered shamans
of prosperity. The morality of such “science” is never questioned.
The question of the day is this: How to rescue a country’s economy without
raising debt levels further? Why, you must print new money … literally
creating money with a stroke of the pen. This is happening today in many
nations. In short, what this means again is that illicit wealth transfers
between different members of society and theft must be officially endorsed.
The victims may be the retired, the elderly, the defenseless. Those in the
know, tend to become wealthier; the unwitting ever poorer.
Another most perverse example we can cite, is that, again, the wages of past
wrongs are confused as the cause of the problem. In other words, it is not
the original “wrong” that is blamed, but rather the actions required to
rectify the past wrong. What is the answer to this dilemma today? Stop the
fixing! Let’s not pay for the past wrongs. Why? It is unpopular and will not
re-elect politicians. Let’s instead repudiate our debts. We will default on
our loans. Again, there are plenty of shaman policy economists today who
counsel the wisdom of debt default to individual countries. What they fail
to recognize is that were all the nations of the world to do so, we would
have utter collapse of global financial systems.
Only a senseless person would make the argument that what made the patient
sick, should also be prescribed to again make them better. Such medicine
would be considered flimflammery. Yet, the political economics establishment
has no hesitation to do so. It is validly acknowledged that
over-indebtedness has been a major contributor to financial and economic
ailments today. Yet, well-known economists seriously recommend that much
higher government debt levels are required to boost economies back into
There are other delusions that are being prescribed by political economists
today that we could outline. Nevertheless, policymakers still search out
their advice. Suffice it to make the observation that the attitude of the
nations is pretty much as it was in the time of Isaiah, “They say to the
seers, ‘Don’t see visions,’ and to the prophets, ‘Don’t give us visions of
what is right! Instead, tell us welcome things, prophesy illusions’” (Isaiah
The only difference today is that this condition applies globally, not to
just one or two countries such as was the case in ancient Israel. Though we
may think that our era deserves greater awe due to its apparently advanced
knowledge and “science,” it is no different than any other in this one
respect: Its shamans always were given great respect and credibility, though
they were exactly that—shamans.
Mount Carmel Defrocking: The Bible on Economists Today
Today’s desperate chants and ravings of the macroeconomic policymakers,
mirror the time of Elijah when he challenged the many priests of Baal and
Asherah on Mount Carmel (See 1 Kings 18). Their beliefs and chants were
totally ineffectual. They could not summon Baal to light their altar, though
they would have invoked all of their lofty mantras and supposedly wise
theories. Moreover, none of these shamans appeared to acknowledge that the
3-year drought in Samaria at that time had been the very consequence of
their heathen policies to begin with. The Bible doesn’t state it exactly as
such, though the essence is the same. God allowed the drought because Israel
had turned to worship pagan gods. These pagan gods had completely different
and immoral prescriptions for “prosperity.” “[…] The prophets prophesied by
Baal, following worthless idols” (Jeremiah 2:8).
What about the monetary charlatans and economic magicians of prosperity
today? Does the Bible have anything to say about them specifically? Very
The Bible frequently talks of scales (“balances” in the KJV). Honest scales
were a command to the Hebrews: “Use honest scales and honest weights, an
honest ephah and an honest hin” (Leviticus 19:36). The prophet Ezekiel
warned Israel and Judah: “You are to use accurate scales, an accurate ephah
and an accurate bath” (Ezekiel 45:10). Also, spoke the Prophet Micah, “Shall
I count them pure with the wicked balances, and with the bag of deceitful
weights?” (Micah 6:11). The Proverbs writer
confirms the gravity of disobeying this command a number of times. God
“detests dishonest scales” (Proverbs 11:1; 20:23).
The OT prophets indicate to us how corrupt Israel had become economically:
“The merchant uses dishonest scales and loves to defraud” (Hosea 12:7). In
fact, this attitude of fraud was imbedded in society. “‘When will the New
Moon be over that we may sell grain, and the Sabbath be ended that we may
market wheat?’—skimping on the measure, boosting the price and cheating with
dishonest scales […]” (Amos 8:5). Skimping, boosting, and cheating were
In this writer’s opinion, conditions today are similar, yet much, much
worse. Our society accepts that fraud, promotion, untrue advertising,
exaggerations, product fillers, “white lies,” greed of corporate executives,
biased corporate lobbyists, rigged financial markets, manipulations of
powerful financial elites … etc. is the normal way to do business. It is the
way of modern “free-market” commerce.
Of note is the fact that the words “scales” and “balances” are in the plural
form. Today, when we think of scales, we envision electronic or mechanical
devices with only one scale. In olden times, a balance of two was used. On
one side, one would put the item to be weighed; on the other, the known
weights to balance the scale (… these the standardized weights that were
carried in a bag … at least this was the case in OT times).
It is these “known” weights that were tampered with. In so doing, they were
tampering with God’s truths. It is He that provides the measuring line … the
ancient boundary stones. For, “Honest scales and balances belong to the
LORD; all the weights in the bag are of his making” (Proverbs 16:11).
God’s truths provide the standard not only for our morality and holiness,
but also for the world of commerce and math. To tamper with the “known”
weights is a grave dishonesty that the Lord detests. To do so with
modern-day monetary systems is the same transgression. The weights are being
tampered with on one side of the scale (namely, the liability side of the
central bank’s balance sheet). The value of our money and hard-earned
savings is being skimped and cheated. Indeed, we see that the Bible indicts
the monetary charlatans and economic magicians of today.
Micah Speaks Out Against Graft and Fraud
In Micah 6, the Prophet Micah speaks to the Hebrews. He outlines God’s laws
with respect to corrupt “scales.” What would be the ultimate outcome of such
corrupt practices? Micah goes on to explain some of the other manifestations
of a society with corrupt “scales.” Though spoken directly to the Hebrews,
we would not be wrong to draw some broader principles that would apply to
all peoples. After all, the Hebrews are God’s people, chosen to be an
example and a light to the world.
The retributive consequences of corrupt practices and tampered scales are
not necessarily a result of divine intervention. In part, we must also view
these as the natural workings of the created physical laws. Just as a
person’s skin will blister if exposed to open flame, so corrupt scales
tolerated in commerce in time are sure to wreak disastrous effects upon all
of society. Indeed, these consequences have played out repeatedly over
Does Micah’s following statement chime in with the environment that we see
today? Let the reader be the judge.
[…] what does the LORD require of
you? To act justly and to love mercy and to walk humbly with your God.
Listen! The LORD is calling to the city—and to fear your name is
wisdom—‘Heed the rod and the One who appointed it. Am I still to forget your
ill-gotten treasures, you wicked house, and the short ephah, which is
accursed? Shall I acquit someone with dishonest scales, with a bag of false
weights? Your rich people are violent; your inhabitants are liars and their
tongues speak deceitfully. Therefore, I have begun to destroy you, to ruin
you because of your sins. You will eat but not be satisfied; your stomach
will still be empty. You will store up but save nothing, because what you
save I will give to the sword. You will plant but not harvest; you will
press olives but not use the oil, you will crush grapes but not drink the
wine’ (Micah 6:8-15).
America is not Israel, nor is any other country save for the namesake. God
had a covenant with the Hebrews, not with America or Canada. As such, we
cannot apply Micah’s prophecy in its full sense to any nation other than
Israel. Nonetheless, we can be sure that the physical and spiritual laws
that God has set will work out their consequences upon all nations in
Thoughts to Ponder
While we have criticized the alchemy of modern-day “prosperity
macroeconomics,” we certainly do not suggest that all economists are either
misled or shamans. Far from it. Many are facing up to the facts. We are
particularly delighted with the research of the Czech economist Tomas
Sedlacek. He openly discusses the morality of “desire.” Human insatiability
… in other words, greed, and uncontrolled consumption. He broaches the issue
of what we see as the metaphysical impact of “human affections.” Says Tomas,
“An economy without morality is a zombie system: the robots function
perfectly, but in the end they leave behind a trail of devastation. We have
to return to our origins and talk about the soul of the economy.”1
Of course, there is no such thing as the “soul of the economy.” However,
were all individual human souls truly given over to the lordship of Jesus
Christ, and motivated by true love in everything that they do, economies
would indeed demonstrate virtuous outcomes. They would demonstrate the full
outworking of the two Royal Laws:
‘Love the Lord your God with all your heart and with all your soul and with
all your mind.’ This is the first and greatest commandment. And the second
is like it: ‘Love your neighbor as yourself.’ All the Law and the Prophets
hang on these two commandments (Matthew 22:37- 40).
We are persuaded that such conditions will prevail in the Millennium.
However, at present, we are in a completely different age. We live in an era
of the biggest accumulation of government debt ever in peacetime. This
applies globally. Our modern-day “free-market” philosophies of prosperity,
draw their fuel from the forces of self-interest and greed. This is the
nuclear power source that drives the false, unsustainable prosperity of our
modern-day. This is the world that Zechariah saw in his two visions
described in Zechariah 6, one that is defined by lying and stealing. The
ultimate result is that it will end up in the complete disruption of
society—a process that has already begun, in this writer’s opinion.
Why do we say that self-interest and greed are a nuclear-type of power?
Because nuclear fuel is extremely unstable and must be continually cooled to
control its reaction. As soon as cooling is removed, it becomes critical and
will melt down. Similarly, greed must be controlled by civil government and
financial regulators. Left to run rampant, greed will cause total economic
Emile Durkenheim, the influential French
sociologist (and son of a long line of rabbis—1858–1917) made this apt
comment: “From top to bottom of the ladder, greed is aroused without
knowing where to find ultimate foothold. Nothing can calm it, since its goal
is far beyond all it can attain. Reality seems valueless by comparison with
the dreams of fevered imaginations; reality is therefore abandoned.”
This is exactly the condition that has begun to emerge in Western (all?)
nations in recent decades. Greed has been running too hot as corruption at
high levels—both institutional and political—has increased.
That greed should find its sponsorship at such high levels is not surprising
or new. A recent study made
[…] the pursuit of self-interest is a more fundamental motive among
society’s elite, and the increased want associated with greater wealth and
status can promote wrongdoing. Unethical behavior in the service of
self-interest that enhances the individual’s wealth and rank may be a
self-perpetuating dynamic that further exacerbates economic disparities in
As already mentioned, the Bible comments on the similar conditions that
afflicted both Israel and Judah in Old Testament times as today: “The people
of the land practice extortion and commit robbery; they oppress the poor and
needy and mistreat the foreigner, denying them justice” (Ezekiel 22:29).
There are many similar indictments from the Bible that we could quote.
And with this comes a dire warning: “Woe to those who call evil good and
good evil, who put darkness for light and light for darkness, who put bitter
for sweet and sweet for bitter” (Isaiah 5:20). These “woes” are already
afflicting the world today.
For resources on “endtime economics” and to subscribe to the free
newsletter, Eternal Value Review, visit Wilfred’s website
or contact him at:
is a global economist/strategist. Formerly a top-ranked global analyst,
research director for a major Wall Street investment bank, and head of
Canada’s largest global investment operation, his writings focus on the
endtime roles of money, economics and globalization. He has been quoted
around the world and his writings reproduced in numerous other publications
and languages. His 2002 book The Endtime Money Snare: How to live free
accurately anticipated and prepared its readers for the Global Financial
Crisis. His newest book, Global Financial Apocalypse Prophesied:
Preserving true riches in an age of deception and trouble, looks further
into the future.
“Greed is the Beginning of Everything,” Interview with Tomas
Sedlacek, Spiegel Online, March 23, 2012.
“Higher social class predicts increased unethical behavior,” Paul K.
Piff, Daniel M. Stancato, Stephane Cote, Rodolfo Mendoza-Denton,
Dacher Keitner: Department of Psychology, University of California,