Government oversteps Biblical principles

How the Government,
through the Federal Reserve, oversteps Biblical Principles

Over the past years, Americans have
faced and suffered multiple challenges influencing the government to implement
questionable strategies for alleviating suffering. Some of the solutions
overstep biblical principles and cause current and continuous problems. Evaluating
the Federal Reserve policy from a Christian view requires the consideration of
economic and ethical factors (Ritenour, 2009). The government has implemented
inflationary policies that harm the economy through the Federal Reserve. The
Federal Reserve’s actions are economically inappropriate and unethical. Controversies
of inflation focus on the association between monetary inflation and property
rights. This is because the government monopolizes money production and engages
in monetary inflation. Therefore, it violates voluntary exchange ethical
principles making it inherently fraudulent. These aspects imply that inflation
cannot be accepted as an ethical, economic policy.

Considering the basement and
valuation of metallic currency would help further understand the ethical issue
of inflation. Basement and valuation are initiatives that lead to using unjust
scales. In this case, money is issued specifying that it is a specific weight
of gold or silver, but it contains less (Ritenour, 2009). Christian principles
detest using false weights and scales, similar to fraud and theft. The holy
scriptures teach the need to use just balances as God considers false scales an
abomination.

The bible contains case studies on
different governments that and attracted God’s wrath. One of
the cases is when Isaiah was prophesying about Jerusalem’s unfaithfulness. He
specifically talked about the monetary basement as one of the sins. He said, “Thy silver is become dross” (Isaiah 1:22a,
King James Bible). Money holding and the Federal Reserve policies present a
similar type of fraud. This aspect is because the money banks create with the
central bank’s full support is presented as billable when demanded. However,
the banks cannot keep all their promises as they only hold a portion of
reserves required to cover all outstanding money warehouse receipts.

Federal Reserve policies increase
inflation, thus redistribution of wealth. Inflation increases wealth for
individuals receiving new money earlier and detracts it from those that receive
money later or not at all (Ritenour, 2009). This approach for redistributing
wealth defies the biblical principle of voluntary exchange and private
property. The state dominates money production and uses its monopoly to control
monetary supply. Therefore, the inflation generated through the Federal Reserve
ends up forcibly taking money from some individuals and transferring it to
others. This aspect points to government-sponsored theft that violates the
Christian principle, “Thou shall not steal” (Exodus 20:15, King James
Bible).

Monetary inflation is an unsound
approach for economic and ethical reasons. This aspect is because increasing or
regulating the money supply does not benefit society. Inflation increases
commodity prices and does not increase capital goods, labor, and land stocks.
Increasing the money supply does not allow productivity growth to satisfy
individual needs (Van, 2019). Instead, it
increases the amount of money spent on the same volume of commodities. This
aspect shows no public social benefits of inflation, reducing the currency’s
purchasing power.

In conclusion, through the Federal
Reserve, the government has overstepped biblical principles. The scriptures
specify the government’s role in society, and America was founded on biblical
principles. Christian values explore the crucial topic of economics guiding how
people use God-given resources, ideas, and energy to meet social needs and
glorify God. Christian principles focus on installing internal liberty on
people and establishing a foundation for a Christian economy. Observing
Christian principles would ensure that the government does not steal and
establishes solid ethical approaches for regulation inflation and money supply.