Updated: May 31
A deacon informed me of this book, and as I searched through my old journals earlier this year, I came upon a lot of quotes that I had written from this book in 2017. The excerpts from this book and from another both stirred me towards writing a word upon our finances.
Bankruptcy of Our Nation was published in August 2012. For years men have been speaking upon and warning of what is imminent.
So then, my title upon finances will not necessarily be along those same lines. Although, it shall speak upon the times.
By way of this title by Jerry Robinson, I first learned about fiat currency ( Or, it is I came to understand.) Also, I saw an article on Saturday which read, “Why it matters if Saudi Arabia sells oil in Chines yuan instead of US dollars.”
It was because I read this book I already understood the hazard at hand before clicking and reading the article. This book had already informed me of what petrodollars are.
This author is well accomplished. He’s an economist, serial entrepreneur, and radio host of Follow the Money Weekly, and much more. But, without question, what I enjoyed is the scriptures he utilizes to convey what God’s word has to say regarding man’s handling of money. In addition, he provides a history and the inconsistencies of man relative to the Dollar. This book does a tremendous job of enlightening one’s eyes. To give just an excerpt, he wrote,
Now ask yourself: What gives the U.S. dollar its value? And why are so many people willing to exchange their valuable goods and services, or work long hours at jobs they may or may not enjoy, for these small pieces of green paper?
Answer: Faith in the scarcity of the dollar.
Allow me to elaborate on this answer.
Since fiat currencies are not physically backed up . . .
Through the use of constitutional contortion, the United States has created a national demand for fiat currency. Maintaining the dollar’s value requires that the monetary authorities avoid reckless increase of the U.S. money supply. Historically speaking, such increases have had disastrous effects upon the purchasing power of the underlying currency. Avoiding a dollar collapse requires a perpetual faith among the American public in the Fed’s willingness and ability to keep the currency in a limited supply.
From what I can recall, the author does not utilize this title to remark upon inflation and taxes, but these are means to counter not having a dollar scarcity. I learned much from reading this book. It was not a waste of time in no way. This book informs and educates the reader upon the very subject and history of its title: Bankruptcy of Our Nation.
Sadly, this book has been in Backorder for a long while. However, one can at least check it out. Follow the link to read more upon this title (thanks): https://bookshop.org/a/56410/9780892217137