preserving the free market

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