Honest Money - Biblical Principles of Money and Banking.
Honest Money, Biblical Principles of Money and Banking, by Dr. Gary North answers what professional economics and theologians don't know how to answer. As you read through this book it explains what money is to people, and how much money is valued in peoples lives. There is a main principle which I will discuss in this report, and it is the only principle. This principle should be followed by anyone and everyone. I will also discuss what happens when the State monopolizes money.
Money is a very important social institution. "The government can influence money in the same way that it can influence language, but it is not the source of money's origins", said Mr. North. If people change their minds later on, they can change the government, or voluntarily change over to a new form of money. Many people chose a particular form of money. You might ask "Why?" They learn from experience that other people usually accept gold in exchange. The principle of honest money is very easy to understand but, can be hard for some people to follow. You deliver what you say you"re delivering. When you agree to give someone a certain amount of gold, then you must deliver the amount you agreed to. Not obeying this principle is just like stealing, it's a sin.
Governments began issuing gold, silver, gold-silver, and copper coins from 600 to 500 B.C. City-states claimed a political monopoly over money. Several centuries later, the Roman Empire decided to join the city-states claim. A temptation was placed in front of the government as people began to use the coins of particular governments due to the familiarity of the coins. This temptation was to lower the currency. Mr. North writes, "The government could buy extra goods and services for itself-initially, before prices started to rise-by spending new money into circulation." Using coins made it easier for corrupt governments to steal from other trusting citizens.