The Biblical Case for Gold
In the 21st Century
by
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<p>...to stress the sophistication needed to conduct these affairs, [one consideration] comes from Numbers 31. After conquering the Midianites, the Israelite army brought to the encampment 800,000 head of new livestock ($200 million?) and 30,000 virgin slaves. The army had not lost a single casualty. In gratitude (and obedience) the army brought an atonement offering to Moses and the priest Eleazar. This memorial offering was apparently 500 pounds of gold which might be valued today at $11-12 million. Can you conceive of having to provide for 30,000 new residents overnight and shepherding 800,000 new head of animals? The date for this immense booty might have been around 1420 B.C. and the sanctuary fee would also remain unchanged for the next 1,400 years.</p>
<p>The prophet Ezekiel lived nearly 900 years later or around 550 B.C. What I find informative is, during Ezekiel’s day, he defines a “just” shekel as still being twenty gerahs.</p>
<p>Still more informative—Jesus tells Peter to go catch a fish, and in its mouth, he will find a shekel and that one shekel coin will pay the atonement memorial at the temple for both Peter and Jesus (Matt. 17:24-27)—1,400 years after Moses, the sanctuary fee had not changed.</p>
<p>As a retired investment advisor, I had to marvel that from 1420 B.C. to 550 B.C. to 30 A.D. the “temple tax” had never suffered inflation. NEVER. Israel had endured several upheavals but the temple tax stayed consistent. I ponder, how is it that for 1,500 years Israel experienced no inflation, no revaluing of its currency, no deficit spending? Granted they had endured wars and upheavals and even 70 years in exile in Babylon, but upon their return, the temple tax was unchanged in price or value in 510 B.C. from the rate Moses had set in about 1400 B.C.</p>
<p>This is unfathomable to Americans today. Previously we acknowledged inflation as an increase in pricing, but not a corresponding increase in the quantity of merchandise.</p>
<p>Let’s now redefine inflation from the other perspective. Why does a nation such as Venezuela or Turkey have 100% or 700% inflation? The quantity of the goods available for purchase hasn’t increased but the value of the currency has decreased by 100% or 700%. When a transaction occurs, the asset value bought should equal the money paid. If the supply of goods is constant, but when a government prints more paper, lira, pesos or dollars, then each unit of money is worth less. Ancient Israel’s temple tax being constant for 1,500 years confirms and validates sound money principles based on a gold- silver standard. That same standard that controlled and limited corrupt Hebrew kings or French monarchs or the U.S. Congress for the first 140 years of the Unites States’ existence, is still as valid today as God had first stated in Genesis 2:12.</p>
<p>It may seem hard for U.S. citizens to believe today, but from 1870 – 1914, the U.S. experienced NO inflation. Expressed in modern terms—what cost $12 in 1940, 80 years later would cost over $300 in 2020. It’s not that the item had increased in price, but that Washington had debased the value of its paper money’s value by 96%. My great grandfather had fought in the Civil War as a twenty-year-old. When he got home, he never saw the price of a plow, sugar, salt, or saltines ever change in price. There were panics and prices declined, but for over 40 years prices had very small differences and even earlier, from 1791 to 1837, the rate of inflation was 4/10 of 1 percent per year. What these two periods of 46 years and then 44 years had in common was America being basically on a gold and/or silver standard.</p>
<p>In Britain, Sir Isaac Newton, the famous scientist, was appointed Warden of the Mint (1696 - 1727). With Newton’s wisdom, Britain had an even better record; the price of gold was fixed in London at the Royal Mint from 1730 until 1931—over 200 years.</p>
<p>Records show bank clerks (tellers) in London salaries were unchanged for nearly a century during this era because England suffered no inflation.</p>
<p>The conclusion? Whether in ancient Israel with “gold being good” for a fixed price for almost 1,500 years, in England for 201 years of no inflation, or in the United States for two separate 40+ year periods, the common thread was basically a gold standard of money. The fixed price of gold and silver forced the politicians to accept a fixed budget. This in turn limits pressure from all the special interest groups, such as farmers, educational institutions, labor unions or the medical industry. It shrinks the number of bureaucrats supervising the government programs. Lobbyists become unemployed. Davy Crockett saw it correctly, as did Grover Cleveland.</p>
<p>When the $100 worth of silver weighs a hundred times more than the $1 of silver, the rules are set. The shekel was defined as a “weight”. A paper $100 bill weighing the same as a $1 bill, gives the politician more power, his access to more money is multiplied by “paper” dollars and not stymied by the weight of silver dollars. So, officials then can gain more influence and power that increases their chances to get re- elected for the next term.</p>
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About the Book
For over 1,400 years in ancient Israel, the Sanctuary Tax was unchanged. God had created a sound monetary system that experienced no inflation, despite wars, royal intrigue, foreign invaders, and 70 years spent in Babylonian captivity. Furthermore, the prophet Ezekiel describes a third temple to be built 5, 50, or 500 years from now. In this future temple, the Sanctuary Tax is the same as it was in the days of Moses. So, what’s the answer? A partial answer is discovered in the Hebrew word “shekel.” The definition of shekel is “weight.” As recently as the 18th Century, the British Empire had two centuries of no inflation. During this period, bank clerks’ salaries were unchanged for a century, all because of no inflation. With paper currencies, the world’s monies have lost their weight. Consequently, this book offers alternatives for 21st Century citizens to help protect their finances--and have more control over their assets, regardless of the evening news.
About the Author
As a college professor of investment courses and an investment advisor for 45 years, I slowly began to develop an appreciation for precious metals—and especially gold.
During this same period of time, my spiritual maturity was likewise increasing. Eventually these two areas of special interest in my life began to merge, with each reinforcing the other. About 20 years ago I wanted to write this book, but the Holy Spirit had other plans. The idea of writing this book bobbled up again about five years ago. The Holy Spirit again said “No.” Recently I was shocked to hear a pastor’s message about the elderly Moses and God’s directive: “Go Forward!” (Exodus 14:15-16). This book is the product, as a result of that sermon.
Judd F. Allen spent nearly a half century helping families with their investments, financial, and estate planning. He was co-founder of the financial planning firm of Allen Wealth Management. One of his special interests is Bible study. A prior book he wrote, The Royal Seed, is a study of Jesus’ genealogy. He and his wife, Pat, live in Boone, North Carolina.