Economic Disaster

Discussion in 'Other Christian Denominations' started by Dr. Walter, Feb 17, 2011.

  1. Dr. Walter

    Dr. Walter
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    Through the past couple years I have been doing a little research on the American econcomy and especially the international monetary standard - the dollar - and the possibility of major nations and world banks thinking about changing the monetary standard from the dollar to another standard.

    Some conservative economists believe this is in the works now and will be changed sometime this year. Few realize the immediate and drastic affect that such a change will have upon the American econcomy. Inflation would skyrocket almost immediately and a loaf of bread would cost $100.00 worth of paper money within a year.

    Do you believe that Pastors should warn their people of this coming disaster and counsel them to prepare for it in practical ways?
     
  2. Zenas

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    I can't rule out this doomsday scenario but your post would have a lot more credibility if you would name names rather than just making vague allegations. I have heard of other doomsday scenarios but not this one.
     
  3. Ruiz

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    Should Pastors be economists? Not unless they are so by training. I have the unique qualification of holding an MBA, MDiv, and MA. Thus, I have training in economics and theology. While there are economic principles from the Bible, economics is not purely a Biblical issue.

    There are many theories in economics and a portions of economic theory is speculative. While the ethics of economics is clearly addressed Biblically, forecasting could be dangerous. I would tend to remain faithful to exposition of Scripture.

    I relay this to the old Y2K incident. Speculative posturing was not helpful.

    Now, as one who loves economics I do address economic issues, but not as a Pastor.
     
  4. Dr. Walter

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    Fox ran an add yesterday that advertised a website that presented the evidence for this scenario. It was produced by "Stanberry's Investment Advisory." I followed it up with research on the web and it seems that other economists are predicting the same thing. However, Stanberry's website offered over 30 minutes of documentary.
     
  5. BobRyan

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    If the US dollar went to the the point where it was only worth about 3 dollars - and if it is true as we claim that the U.S consumes 70 or 80% of the world's resources - what would the rest of the world have for buying that loaf of bread?

    Are they really claiming that 70% of the world will die this year?

    Let us suppose for the sake of argument that the dire warning they give is overblown -- instead of 70% of the world dying this year - some lesser disaster takes place - and economic stress and hardship results -- even if not quite as dire as the loss of 70% of the population.

    1. This year is the start of an election sequence.
    2. Next year - an election year.

    What stops the U.S. from going into an Egypt-like meltdown seeking a change in leadership?

    As for what Pastors should be saying -- the tribulation is near - is almost upon us. People should at least form the ability to grow food on the land around their homes.
     
    #5 BobRyan, Feb 18, 2011
    Last edited by a moderator: Feb 18, 2011
  6. glfredrick

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    I see the same cause for alarm that Dr. W does... When I track the FRED I see a spike in our monetary supply that almost insures that it will be worthless one of these days. In fact, we've already crashed, but simply do not know it -- being propped up by faith and the printing press.

    Here is the graph I am talking about:

    [​IMG]

    The amount of dollars being pumped into our system are absolutely astounding! And I do greatly fear that we'll see times like the Wiemar Republic in Germany, or more recently, the meltdown in Argentina and Brazil:

    http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic

    http://www.thefreemanonline.org/columns/hyperinflation-lessons-from-south-america/

    If there is a huge supply of fiat money in the system, sooner or later -- unless inflation can be managed to equal out the money supply -- hyperinflation will kick in and the result is the same in every place where that has happened. Everything apart from durable goods and food are worthless, and durable goods and food increase in price so rapidly that between receiving a paycheck (assuming that one is still employed once manufacturers and service sector employees can no longer collect from their market) that the check may not cover the cost of anything if not spent almost immediately.

    How do we prepare our people for such an eventuality? Truth is, we cannot... First, no one will really believe that it is possible to melt down as a nation (save perhaps a couple of the oldest members of the church that still remember the Great Depression and what that did to America). Second, we have essentially lost the necessary skills (and ability, even if skills are at hand) to live off the land as did our forbearer's. People don't know how to grow gardens and farms. They don't know how to raise animals and what to do with those animals if they somehow happen to raise them. We "buy" stuff, we don't "make stuff" and the moment that Wally-world runs out of product, we'll see mass panic. Neighbors will not be seen as friends -- instead they will be seen as "resources" for those strong enough to take what they need. How can we prepare people for that if they are not already?

    I DO recommend that we start talking about "reasonable" efforts to return to helping each other via community gardens, raising small animals (rabbits, chickens, etc.) and learning alternative forms of transportation such as bikes, carts, walking, etc. If we do this now, as an exercise in good stewardship and an effort to be "sustainable" (not a bad thing!) we can see a resurgence of interest and ability that has been lost in the past couple of generations.

    I also advocate taking a very biblical perspective on "community" for we will only survive as do those people in 3rd worlds, where "community" is the only means possible to meet the overall needs of the people. No one person or family will make it with an independent spirit. They simply cannot produce everything needed to live unless they are VERY intentional, but in community, one can do this, another that, and together, insure survival.

    Is my stance "extreme"? Not really... We should have been in this place all along. We are now mere consumers, driven by the winds of the world to have whatever the world tells us we need to have instead of a people that steward God's world well, so as to make our lives better and more fulfilling in gospel community. I expect we'll learn this lesson well, but whether (like a person with diabetes) we learn this before we need to to avoid the big problems that comes once we do need to, or learn it the hard way with many tears and hungry nights, we, in all likelihood, will learn...
     
  7. Dr. Walter

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    When, not "if" this hits the paper money will be worthless. People with money should transfer it right now to usable silver and gold coins because silver and gold will hold their value. Some are suggesting that a mix of pre-64 sliver dimes purchased in bags of 10,000 present at $1000.00 and kruggerands are the best ways to transfer. If they don't transfer them soon the paper value will continue to inflate and when it happens the paper money will be virtually worthless and banks will be shut down the wall street stocks and bonds will be worthless.

    Having a good water purfication system like the Berkey purification system ($225.00) on hand that you can literally take water out of the mud puddle and run it through the Berkey for matchless clean water.

    Having a well supplied First aide kit on hand.

    Start storing dry foods (rice, beans) and can foods so that you have at least six months supply.

    Obtaining emmergency chemical tolet supplies.

    Having a good camping supplies (tent, sleeping bag, propane stove) and warm outdoor waterproof clothing and winter boots.

    Some of these things people with very little resources can start doing.

    However, the big problem is the "normlacy factor"! As you pointed out, probably the only ones who will believe this is possible are those still alive from the Great Depression.


     

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