Today’s Scripture Reading [September 4, 2011]
Let us hear the conclusion of the whole matter: Fear God, and keep his commandments: for this is the whole duty of man. [Ecclesiastes 12:13. KJV]
Today, the buzz word in the financial news is “double-dip recession.” It is simply defined as an extended decline in economic activity following an aborted recovery from a previous recession. Since the U.S. housing mortgage and loan bubbles burst just couple years ago that saw thousands of property foreclosures, economic activities and labour employment in the U.S. has been in a dire state even until now. Many economists, though they are the last to be trusted for what they said, nonetheless, have viewed that the last housing bubble bust and together with the turmoil in the financial industry, the U.S. economy has never recovered. In fact, the worst is yet to come and many people are losing sleep over the frequent warning that a “double-dip recession is likely”. We saw in today’s paper that this is indeed one of the headlines in the front page news! Just the first paragraph of this article can easily send a cold chill to most readers. It simply read “Business leaders and finance experts gathered in Italy have offered a downbeat assessment of the global economy – with several predicting another recession due to a calamitous cocktail of sluggish growth, euro zone dysfunction, and financial market volatility.” We pray and hope these ‘business leaders and financial experts’ are wrong! Basic economic theory tells us that a weak economic recovery will cause investors to worry about their investments, and due to the lack of confidence that the economy can be picked up, many investors will not be willing to invest in capital investments that are essential for the efficient and productive running of the factories thus putting greater pressure on the productivity and economic growth. Business confidence is one of the most important factors in reversing any economic decline and sadly this is something that is lacking very badly today. Today, both consumers and business leaders have very little faith in the immediate future of the global economy. Government can pour money into the economy, can print money to pay for the public expenditure but they cannot change people’s level of confidence.
So, what does all this mean to us as Christian, as children of God? Thankfully though the word of God, the Bible, is largely about God’s love for mankind and His sacrificial efforts to redeem the sinners, there are many writings in the Bible that give us life’s practical lessons and teach us how not to lose sleep over such issues like potential economic and financial turmoil. In particular, we can find these life practical lessons in the Book of Ecclesiastes which offers the Christian an opportunity to understand the emptiness and despair that those who do not know God grapple with. Those who do not have a saving faith in Christ are faced with a life that will ultimately end and become irrelevant. If there is no salvation, and no God, then not only is there no point to life, but no purpose, meaning or direction to it, either. That’s admit, apart from God, the world “under the sun” is frustrating, cruel, unfair, brief, and “utterly meaningless.” The process of life that all of us who are still living in this unfair world – happiness to sadness and back to happiness – repeats itself like a never-ending ocean current! But with Christ, life is but a shadow of the glories to come in a heaven that is only accessible through Him, and the wise man should understand this, and prepare himself for the ups and downs in life by not acquiring or pursuing material and worldly happiness but by fearing God and keeping His commandments (Ecclesiastes 12:13).
Largely because of the financial news of the U.S. economy and together with the news of mounting debts in several European countries that are coming out every hour, many have sought safe haven in their investment in gold. The price of gold has gone all time high hitting to near US 1,900 per oz. In times of economic uncertainty, gold seems to be the safest investment, at least many people thought so! Can gold, and for that matter other worldly riches offer to fill up the vacuum, the despair and the emptiness? Can these ‘assets’ be our safe haven for our future while we are on this earth? If so, it would be contradictory to what the message we read in the Book of Ecclesiastes. So, how safe is gold and silver? Following is an article from a Christian writer: Gold: The best end-time investment strategy? I pray that this article will provide us some comforting words that the safest haven for our lives is not in gold or silver but our steadfast faith in Christ Jesus, and our true happiness can only come if we live in godly fear and obey His commandments.
------------------ Gold: The best end-time investment strategy? ------------------
Fears of a “double-dip” recession, or an economic depression are growing. Some financial experts now urge: “Buy gold. Buy silver. Get as far away as you can from U.S. currency and the U.S. economy” (YahooFinance.com, August 4, 2011). Considering recent stock-market trauma, and recent record gold highs approaching $1,850/oz., many are turning to gold. So, what is a Christian’s best investment strategy?
While gold has always been precious, its rapid price gains are a recent phenomenon. Only in the last 40 years has gold been a high-yield investment - one that some believe may now be the only “safe-haven” (CNBC.com, August 18, 2011). For example, a $5,000 investment in gold in 1810 would have still been worth about $5,000 an entire century later! The price of gold gradually increased to about $35-$40/oz. during World War I and World War II, and it basically remained at that level until 1971 - the year when the post-war “Bretton Woods system” of international financial relations was dismantled, and the U.S. dollar became in effect the world’s reserve currency.
If you had purchased $5,000 in gold in 1971, at about $35/oz., you would as of August 30 have an investment worth approximately $250,000 (assuming a price of $1,750/oz.). Had you purchased $5,000 worth of gold in 2005 (at about $445/oz.) your investment would be worth about $20,000 today. That sounds like an excellent return. So, is gold really our best investment strategy? The biblical account of the gold used in the Ark of the Covenant and in Solomon’s Temple reveals an important lesson.
The Ark of the Covenant and the “mercy seat” were beautiful. They were plated inside and out with pure gold. They were covered by solid gold cherubim (Exodus 25:10-11; 18-20). The ark was transported by two gold-covered poles running through gold rings (Exodus 25:15; 17). Beyond that, the Temple that Solomon would build would contain a phenomenal amount of gold and would be of unsurpassed beauty!
King David alone contributed 3,000 talents of gold (about 90 metric tons, or 2,893,500 troy ounces) and 7,000 talents of silver (about 210 tons) to the Temple project. At a conservative $1,750/oz., this would be $5.064 billion in gold alone! Scripture reveals that Solomon greatly added to this wealth. The Queen of Sheba (1 Kings 10; 2 Chronicles 9) brought Solomon another 120 talents of gold (3.599 metric tons, or more than $202 million at August 2011 prices)! Solomon accumulated additional vast amounts of gold through extensive trade and mining operations (1 Kings 9:11; 14; 10:22), much of which was put into the Temple of the Lord (1 Kings 6:18, 30; 7:48-49; 2 Chronicles 3:5).
God certainly was honored by this beautiful Temple. Yet, ultimately, gold or riches will not save us, and do not impress the Creator. Remember, because of Israel’s sins, God eventually allowed the Temple to be plundered (2 Chronicles 36:18-19; 2 Kings 25). Gold can be stolen or debased. A fortune based on gold can vanish in an instant. Even a diversified portfolio can crash, and may be lost or confiscated in times of war or national collapse.
But there is a resource that can last even when gold fails. Faith can withstand war, or famine, or national collapse. Moreover, it can yield immortality in the Kingdom of God (1 Peter 1:7-9)! Scripture warns us that, at the very end of this present age, gold will be worthless, because it will not be able to deliver suffering humanity from the Great Tribulation or the Day of the Lord (Ezekiel 7:19; Zephaniah 1:18)!
Moreover, no amount of gold, silver, euros, dollars or yuan can purchase entry into the Kingdom of God. A Christian’s best investment strategy is to develop a spiritual investment portfolio rich in the fruits of the spirit (Galatians 5:22-23), humble in God’s word (Isaiah 66:1-2), and full of “spiritual oil” - the oil of deep faith through Christ living in us. This investment strategy will survive the collapse of nations, and will yield as its dividend immortality in the Kingdom of God (Matthew 25:1-12)!
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