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

Central banking is a relatively new concept in human history. Only as recently as the year 1900, there were just 18 such institutions in the world. At the time, all of these were in Europe, with the single exception of the Bank of Japan. The system of central banking then spread widely between the two World Wars. By 1980, over 100 or so were in operation. Following the rapid spread of globalization, there are now over 170. Even former and presently Communist countries followed suit. Consider that China’s central bank is today the second largest in the world. Readers will understand just how recent this global system of central banks has emerged.

By and large, all central banks have adopted the same basic operating policies. They claim that they can regulate the ebb and flow of inflation as well as debt growth in the commercial banking system. They do so through various means (the details of which we will spare the reader). Some central banks may be more constrained than others due to different country statutes and laws.

All the same, all central banks have one most powerful ability. Technically, they can “create” money out of thin air. Think about this for a moment: You the reader, and this writer, can only accumulate money through earnings and investment gains. We cannot lawfully create money; perhaps adding zeros to our bank account, or printing counterfeit notes. However, a central bank can effectively redistribute the existing savings of the entire country (and, we should add, the whole world) by creating more money.  And, incidentally, central bankers are not elected officials.

Economic Beliefs Proven to be Immoral

Are macroeconomics and fractional reserve monetary systems immoral? Using the Bible as our reference point, the answer must be in the affirmative. 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 they can better 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 highly revered economists. The morality of such “science” is never questioned.

Consider this question facing economists today: 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. As we have already documented, this is indeed occurring around the globe. 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, or the defenseless. Those in the know or in advantageous positions become wealthier; the unwitting ever poorer. These effects are known by economists, but shockingly, these policies are endorsed nonetheless.

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 an utter collapse of global financial systems.

We will highlight one last accepted immoral foundation of today’s economic policymakers: It is validly acknowledged that over-indebtedness has been a major contributor to financial and economic ailments facing the world today. Yet, well-known economists seriously recommend that much higher government debt levels are required to boost economies back into recovery mode and long-term health.

Only a senseless person without reference to Biblical morality, 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 experiences no shame or loss of credibility believing such things.

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 30:10).

The only difference today is that this condition applies globally, not to just one or two countries, such as was the case during the times of 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 were always given great respect and credibility, though they were exactly that—shamans and false prophets.

The Biblical Standard of Moral Money

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). There are many other Scriptures that we could quote.

Crucially, it is these “known” weights that were tampered with. In so doing, they were tampering with God’s truths. It is He who 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).

The OT prophets indicate to us how corrupt Israel had become economically. A culture of deceit and 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 standard practices. In our day, an interconnected global money system has been built on exactly such a foundation.

In this writer’s opinion, conditions today are similar, yet much, much worse. Of note is the fact that the words “scales” and “balances” are in the plural form.

Thoughts to Ponder

Without a doubt, we are now witnessing an era where economic policymakers and the major central banks of the world are desperate. They have chosen to break all the rules and have abandoned any semblance of probity and integrity. They are manipulating monetary systems and are creating “infinite” money as never before, openly and brazenly corrupting the “scales.” They have gone past the point of no return, knowingly and willing choosing to brazenly “steal and thieve.” It is awe-striking to witness.

But, what about the potential for explosiveness of this endtime “burning fuse”? More than anything, financial systems are highly prone to sudden changes. This is for two reasons. First, the workings of this system are dependent upon confidence. Human confidence can disappear in an instant. Second, financial systems are based on debt and fractional reserve banking. That produces a condition of acute instability … a very low margin for error.

Observers of financial systems have noted that while it may take a long, long time for crises to finally break out, when they do so they unfold extremely quickly. As such, the collapse of the financial belief systems can indeed be sudden and explosive. Bible prophecy appears to forewarn of the “suddenness” of key events.

For example, “While people are saying, ‘Peace and safety,’ destruction will come on them suddenly, as labor pains on a pregnant woman, and they will not escape” (1 Thessalonians 5:3). Though our Lord may be tarrying, when the time of judgment arrives it will unfold with lightning speed. We also note the suddenness of the final world power regime that will rule the world. Prior to the appearance of the Antichrist, it will come to form very quickly and will be on the stage for only “one hour” (Revelation 17:12). As well, the Antichrist, who is also identified as the 8th king who belongs to the prior 7 world hegemonic kingdoms, will exist but a “little while” (Revelation 17:10).

We continue with the 5th “burning fuse” of the end times. What is it? Prophecy confirms this development we are about to explain. The Bible tells us that a time will come when commerce—the act of buying and selling—can be controlled worldwide. This facility will actually be invoked at one point during the Great Tribulation period, “He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name” (Revelation 13:16-17).

This is an oft-referenced verse, frequently misquoted and misinterpreted. It is the source of much speculation about the identity of the “mark” and the “number.” However, the most critical error concerns the identity of who it is that actually brings in these controls. It is not the first beast with 7 heads that comes out of the sea, which is of the lineage that gives rise to the physical Antichrist. Rather, it is the second beast (which emerges from earth and has two horns like a lamb) that brings in these commercial controls. This latter beast is commonly linked with the False Prophet, who is mentioned in Revelation 16:13.

Assuming that this connection is correct, it is telling that it will be a religious figure that ends up being the world’s last “economic guru.” This is not accidental. Why? Because free market macroeconomics (and its global spread, this being globalization) is the world’s largest and fastest growing religion (belief system). The beliefs imbedded in this bosom ideology are the hope of humanity today, though an increasing number of observers may be having their doubts.

The spectacular Global Financial Crisis (GFC) that has played out in recent years, provides a foreshadowing of the final economic and financial collapses yet to come. As such, this development definitely qualifies as one of the burning fuses of the end times. To recall, it is the change in human “beliefs” that is the common thread that defines our selection of the 12 endtime fuses of this series.

Idolatry of Modern Economics

What is idolatry? To answer this question, we first need to examine its object … the idol itself. Just what is an idol? Consulting a dictionary, we read descriptions such as this: “[…] a representation or symbol of an object of worship […] a false conception […]” and so on. The Bible, however, provides an easy, useful definition: An idol is any object of human reliance that is vulnerable to toppling. For example: “A man too poor to present such an offering selects wood that will not rot. He looks for a skilled craftsman to set up an idol that will not topple” (Isaiah 40:20). This is a most humorous depiction. After all, why worship something that we ourselves must prevent from toppling with our own hands?

Again, Isaiah tells us: “The craftsman encourages the goldsmith, and he who smooths with the hammer spurs on him who strikes the anvil. He says of the welding, ‘It is good.’ He nails down the idol so it will not topple” (Isaiah 41:7). Jeremiah, too, made the same observation: “[…] they cut a tree out of the forest, and a craftsman shapes it with his chisel. They adorn it with silver and gold; they fasten it with hammer and nails so it will not totter” (Jeremiah 10:3-4).

God must surely laugh at mankind’s attempts to build and set up his own gods. He chuckles that mankind does not see the futility of his idols if they indeed must be nailed down and defended. Said Gideon’s father, Joash, when coming to his senses after Gideon smashed his idols: “If Baal really is a god, he can defend himself when someone breaks down his altar” (Judges 6:31). Anything that mankind allows to become an idol will be sure to disappoint and come up empty.

Modern day idols may not take the form of figurines and statues. They are more likely to comprise “isms” and systems … i.e. capitalism, globalism, technology … etc. These can be idols nonetheless.

This is one of the key lessons of the Global Financial Crisis (GFC), which continues at this present time. Idols topple and totter. Things held to be venerable emblems of mankind’s achievements and hopes, are vulnerable to toppling. Comically, they must then be propped up by man. Therefore, we see politicians and policymakers around the world desperately trying to prop up their belief systems … trying to cover up the futility and falsehoods of these beliefs. Countries such as Greece and Cypress needed to be bailed out. More and much bigger bailouts lie ahead. As the great idol of global commercialism crumbles, policymakers are becoming increasingly desperate, resorting to theft and deception.

Idolatry Gone Rampant

Anyone who has eyes to see knows that the world today is governed by materialism. More than ever, people, nations and virtually the entire world are almost totally preoccupied with the human pursuit of happiness, peace and material prosperity. God does indeed want us all to be joyful, prosperous and at peace. But not without Him, the true Source. Not without reverence and glorification. Instead, what we have today is the accepted perversion that peace and happiness are directly linked to prosperity. There’s no need for God. Give people prosperity, and there will be peace and happiness.

The working theory has been this: All we need to do to solve the instabilities of our geopolitical world, is to have everyone engaged in the pursuit of “free market” economics … to become prosperous. That’s the presumption behind many efforts to bring peace.

For example, among many, the World Economic Forum—hardly an altruistic entity, as its membership is comprised of approximately 1,000 multinational corporations—takes this view.1 Typically, their thinking is that a free-market and capitalistic revolution will solve all the problems of political and religious unrest. Closing the large gap between the financial and economic wealth of the West will fix the problem. In their eyes, this disparity must be the main source of the problems.

Governments and various global agencies are all united in this view, supremely confident that the model of free markets, consumerism and inflated financial wealth will bring contentment and peace.

Manmade Prosperity as the Solution

How did this modern perspective of materialism and “greed is good” come into such wide acceptance? It is a relatively recent phenomenon in world history. We will attempt a brief summary.

Down through the centuries, Christians sought to find themselves on the right side of the divide between God and Mammon. Generally, the pursuit of material gain had been frowned upon since it was seen to be incompatible with a virtuous life. In fact, for a long time the Church—at the time, the Roman Catholic Church—saw it as its duty to regulate economics and commerce. These fields were not necessarily under the rule of kings and sovereigns. Whether Christian or not, the Church sought to enforce moral conduct upon society overall. Greed, usury and materialism were definitely the emblems of Mammon. These were to be stamped out.

Responses ranged from Monasticism—hiding away in monasteries and taking vows of poverty—to the rigid enforcement of feudal life, in the belief that as not all men are made equal or the same, they should remain in their station, whether peasant, priest or lords of estates. The concept that all wealth or anything material is bad—in other words, the natural world that God created is to be detested—were among the extreme interpretations.

However, perspectives began to change noticeably as of the 1700s. Christianity was at the very center of this shift. A transition was influenced by new philosophies, technologies and discoveries, and most importantly religious beliefs. The greatest of these was the Reformation, which indirectly encouraged a strong work ethic and capitalism. All of these forces working together—sometimes in opposition and parallel—gave rise to a cauldron of change.

At first, devotion to serving God and Christian stewardship brought rewards. These were not the object of faith, just the attendant blessings that God gave in grace. As these rewards accumulated—mostly in forms of wealth, technology and comforts—the pursuit of godliness for the sake of wealth itself become the focus. Idolatry began to take root. Next, the focus shifted to the process of creating wealth and comforts—any kind, for that matter. Then, the “pursuit” of wealth and possessions became the idol. Lastly, wealth itself became the false god.

So societies gave way to the “spirit of capitalism,” and more recently, to the full-fledged, society-wide endorsed “love of money.” Today, the “love of money” is invoked as both the solution to the world’s troubles as well as the hope for future progress. What at first was a gradual development, eventually gave way to a flood of materialism and the worship of material wealth that we presently witness.

Today, modern commerce has become the most powerful force on earth … a figurative tyrant. Mostly, this tyrant is held in high regard by much of modern Christianity. In fact, so-called Christian organizations exist to validate the ideas of “free markets” and the “spirit of capitalism” as scripturally-endorsed forces for good. Yes, Scripture endorses good works. But these come from inspired individual hearts, not systems or machines. True capitalism, like democracy, is only good if the majority of people have the One that is Good living in their hearts.

Max Weber’s The Protestant Ethic and the “Spirit” of Capitalism2 and R. H. Tawney’s Religion and the Rise of Capitalism3 provide excellent documentaries of how this progression to mass idolatry came about. Both of them were spurred to write about these issues already at the turn of the 20th century. Were they to have lived to see our day, they would probably have been shocked. What is still called capitalism by name today is only a faint parody of its early roots, a far cry from honest labor and godly stewardship. Today, we live in the “Age of Money,” “The Age of Global Capital.” It involves a religion … a faith in the ways (financial and economic theories of wealth) of mankind.

Today, our societies endorse greed as good… at least some measure of it. Too much, of course, is not completely condoned. But the definition of what is too much or not enough is a relative concept and in constant flux. All the same, the very pillar of modern day economy and its theories is indeed the “spirit of greed.” Says one writer, “The essence of this philosophy of avarice is the idea or of the duty of the individual to work towards the increase of his wealth, which is assumed to be an end in itself.”4 Most of us live right at “ground zero” of this phenomenon. According to one influential business writer about the US, “The American way of business has been hijacked by the values of a financial community that is so preoccupied with trading and deal-making that it has lost sight of the purpose of its own existence.”5

Points to Ponder

The conditions of materialism and economic oppression witnessed today—even in such advanced nations as the U.S., Canada and others—is at least as rampant as during the times that the prophets sounded the warnings and indictments against Judah and Israel. To date, global leaders and finance ministers from the major nations have no answer to the Global Financial Crisis other than to reshuffle debt and to shift liabilities upon governments and aging populations. The result is even greater financial slavery for the average citizen; even greater relative wealth of the “haves.”

We see that what began from good motives has long ago given way to the “doctrines of demons.” It is a system that has become little more than the worship of self-interest and greed as the common givers of good and prosperity for mankind. It is this “doctrine of greed” that today plays the role of a new secular religion, one that is unifying much of the world—and also pulling the entire world into a common net.

According to this perspective, freely-trading financial markets are all-wise and all-knowing. False and deceiving forms of wealth are considered just as acceptable as real wealth. Economic growth, for its own sake, is good. Consumption must be maximized as an inaeliable proof of progress.

It used to be the other way around. The most beneficial activity for society overall was the act of frugality and denial. Now that this system of frugality and honest work has produced great wealth, the system itself is being worshiped apart from the workings of God’s grace. And, therefore, it is ripe for total collapse.

The fact that today’s popular theories are false as relates to the peace and godliness of mankind is widely evident, yet purposely ignored. Even though many nations have become richer (in the world’s definition), survey after survey shows that people in America, Europe and Japan are less pleased with their circumstances than 50 years ago. Why? According to the Bible, and evidenced by surveys, the problem is envy, greed and idolatry. More will never be enough,“man cannot live by bread alone” (Deuteronomy 8:3).

So, we see that a large part of the world has traveled the slippery slope from piety to rampant greed. Applying the language of our day, what once was honest vocation led to capitalism, then to the “spirit of capitalism,” and in recent decades, the outright idolatry of materialism and “greed is good.” In this process, we see the five-stage progression of sin. First, man sins. Then man finds ways to justify it. Next, he boasts about the sin. Finally, good and truth are torn down. But, that is not the end. Lastly comes judgment.

At that time there will be such a crisis, that people will likely respond as they did to Joseph in the third year of the famine: “[…] Buy us and our land in exchange for food, and we with our land will be in bondage to Pharaoh” (Genesis 47:19). This “burning fuse” is getting very short in this writer’s opinion. As this article lays out, the world is ripe to have its financial and economic control systems put at the disposal of the False Prophet and the evil purposes of the Antichrist.