Ponzi, Madoff, and Babylon the Great

We have of course been enlightened to the deep recesses of imaginary finance through our most recent casualty Bernie Madoff. But he is just the ghost of Ponzi present so-to-speak. In the past Mr Charles Ponzi, ghost of Ponzi past, gives a look back into the basics of what this scheme really is. It is trust or faith. Faith in the hopes that the money you put in will be the money you get out.

Looking at his scheme, we see that is not the case. People's hard earned money disappeared and all that was left was hurt feelings, regret, and reduced purchasing power. The money disappeared into thin air.

Ghost of Ponzi present, Bernie Madoff's scheme follows his predecessor but with new age computer technology. The same trusting and sure face was applied to front the scheme. Thus billions were invested and just like that; the money is gone. All that was left was hurt feelings, regret, and reduced purchasing power.

How about the ghost of Ponzi future? Well to figure that out let's go to a biblical prophecy concerning Babylon the Great. She is described as being clothed in riches and having influence over merchants and sellers. She is said to sit a queen over the kings of the world. She is eventually taken down by this beast she rides and is destroyed forever. Revelation 18.

It was not a simple process to figure out that Babylon the Great was the biggest Ponzi scheme ever known to man and is about to collapse. Prophetic scholars often relate her to some nation or people. Since the bible depicts Babylon the Great as a woman, it can be seen as some system, function, or even religion. But what system has this odd influence over the world today?

Money. Money makes the world go round. Money is the root to all evil. Money, money, money, money... Money! For the love of money, by the Ojays.

Mankind is so enamored by the green stuff that rarely do we think about what supports the faith we put in it. A dollar is in simple terms, a promise. Its like writing IOU on a sheet of paper and giving it to a friend except its the government making the IOU so it looks a whole lot better.

One of the wisest statements ever made is "follow the money". There are two directions you can go on that. You can follow the bank route which leads you to the Federal Reserve and how they magically create money out of thin air. That in itself is amazing. Or you can follow the historical value route which leads back into ancient antiquity to the nation of Babylon's doorstep.

For the purpose of linking in Babylonian history with Babylon the Great of Revelation, this is the route I will go.

Most people assume that the US dollar and other currencies are backed up by real gold. This is no longer true as of 1971. Thanks Nixon. There was a US order to abolish the long standing relationship of gold to money. When that occurred, no longer were we purchasing things we needed with a percentage of gold but we now purchased things with debt.

In simple terms, if everyone paid back their debts, there would be no money in circulation because no value exists in the dollar itself. It is fiat money or monopoly money depending on what side of the tracks you are from.

The only reason this Ponzi scheme has not faltered is because most people believe the dollar still has a gold backed value. But this is changing.

Let's go deeper into this rabbit hole if you will.

Gold is accepted all over the world as having de facto value. Its unquestioned because it is what it is. But why do humans value gold over tin, silver, iron, or other metal enough to pin our means of exchange to it?

This is where we go back in history to when the first coins were minted as exchange for real goods. This is first recorded in Babylon around 600BC.

The interesting thing about gold is that prior to being accepted as money, it was used as ornaments and religious implements throughout the lands of Egypt and Sumeria. The Mayans also held gold in high esteem. The back drop was set when the king of Babylon decided to incorporate gold into a means of exchange for real goods.

No longer would the bartering system hinder trade. Plus this pushed international trade further than it ever had before.

Interestingly the first banks were temples because they were the places that would be trusted the most because they would already have most of it. Of course the first bankers would be the priests. It wasn't seen as problematic cause the priests were supposed to be the most trust worthy in the community.

For centuries after this point in history humans have naturally trusted the money they used in exchange because it was so closely attached to a faith.

Why is this in jeopardy now?

The US is supposed to keep a stock pile of gold locked away in Fort Knox in Kentucky. Just recently a shipment of gold was made to China for payment of debts. China drilled the gold bricks to make sure of its value and discovered that the load of gold bricks were only gold plated. This of course reduced the value of the shipment significantly.

This discovery further undermines the basic assumed value of the dollar we use today. Not only that but calls into question the largest stock pile of gold in the world which supports a system of monetary exchange that many nations use today.

If it is true that our gold supply is missing or at least greatly reduced, then our great economic system will have the legs cut out from under it.

Babylon the great is the worlds faith in what we call money, exchange, or trade. We are seeing the first cracks by the falling dollar and sky rocketing gold. It is a bubble and the greatest Ponzi scheme to ever hit mankind.

Just like the sad investors wanting Madoff to be held responsible for his crimes, most people on the earth will want to hold someone responsible for this great lie. Unfortunately we will have no one else to blame but ourselves.

We might find the Lord's discipline harsh at first, but it is for our own good and strengthening for what's to come.