'For the Love of Money is the Root of all Evil (2 Timothy 6:10)
This aspect of life is probably THE most important to consider. Why?
Because the majority of people have little or no understanding about what money actually is. This may sound strange but just ask yourself the question – Do YOU know what money is and could you explain it? Most people will give all kinds of answers but they all seem to be a little basic and they generally fail to have any real appreciation of how to answer the question.
Answers range from: the government prints it; it grows on trees; it is produced in a paper printing factory owned by the government; the Bank of England prints it; It is produced when we spend it etc, etc. Virtually no-one understands that there are two types of money. Paper currency produced by Central Banks which represents about 3% of the United Kingdom currency and Digital money which is produced by Banks when they create loans.
BUT, don’t feel threatened by this fact. When asked the same question, the majority of politicians, accountants, and business people also cannot answer the question. This must seem VERY strange! In fact, it is not strange at all, because our Western Monetary system was created in such a way that people would not know what money was.
In other words, Banks have the main privilege to produce money out of thin air at the press of a computer button which is, in reality debt. As every loan is made the created digits are credited to someone’s account and then get spent on whatever they buy which places the money back into someone else’s account and represents a debt in society. Therefore, money equals debt. The Banks can create as much as they want and when they want to reduce the debt they recall the loans made.