What is Money? - Sep 2, 2025

[Sherman]

What is Money?

2010 Rerun:
Definition of Money: In the 1990s here at Bob Enyart Live, I wrongly claimed that justice required a return to the gold standard, whereby currency was formerly backed by reserves of precious metals. Years ago you could return a $10 bill, also called a gold certificate, to a bank and receive a certain amount of gold. After studying and thinking about money for years, reading economic texts and reflecting on the Bible, asking questions of internationally renowned economists, I now know that the definition of money is not gold or silver (although they can be used as money). But money is more like a transferable IOU. Most accurately, money is the accounting of transferable incomplete transactions. That is what money actually is. You can see the rest of this at KGOV.com/money...

* Post-show Note: You're invited to also see our KGOV Political Spectrums chart and program.

Today’s Resource: You can enjoy one or two of Bob Enyart’s entertaining and insightful videos each month, mailed to you automatically, simply by subscribing to the BEL Monthly Topical Videos service! Also, you can check out the other great BEL subscription services!

 

[Ps82]

My thoughts ... I'm no expert ... and admit I haven't taken the time to check out the above links. They're probably over my head anyway. But, my family and I do think about money and how to manage it.

Gold has been a good back up for money for 1,000s of years. It was and is still desired for all sorts of things: jewelry, idols, beautification projects. Even coins. Jesus used coins out of a fishes mouth to pay taxes owed because it was the accepted way.

However, in our time gold is probably more rare and even more difficult to mine. Then our money was turned into a government promissory note. Our government and economy has been one of the most secure and has worked in our favor, but now...??? Not so sure.

All our savings, which we intend to leave to our children, seems so risky to me. It has become just numbers in computers managed by people we don't know well. I think: One day some entity with power and authority can just hit a delete key. Scripture says that the Anti-christ just might do things like that to persecute believers. China, I've heard, already does!

So, I have a suggestion for our younger generation.
Learn where their real security lies. Skilled workers are always needed; so, whether you become a big executive or a pencil pusher or a computer operator in an office your best back up plan for security is to have knowledge of multiple basic skills. The more the better. Jobs are not guaranteed these days. Certainly ones with retirement plans are more rare. You and your family will be decimated if you loose any job. Sure, skilled jobs do not lead to fat salaries, but they will put food on your table and maybe more when you need it. In fact farming skills would be a blessing and I know an electrician who do very well even now.

With multiple skills you can even barter for things you need. Everyone should have a skill to trade for things they need. Bartering would not be buying and selling; so, it might become a survival loop-hole if needed in our life-time if the anti-christ comes before we are raptured. I think this is the new money in times to come.

 

[Right Divider]

Gold has been a good back up for money for 1,000s of years.

If gold has been a "good back up for money"... what is "real money"?

However, in our time gold is probably more rare and even more difficult to mine.

Its rarity is one of the things that make it good money.

Then our money was turned into a government promissory note.

Which is a complete disaster.

Our government and economy has been one of the most secure and has worked in our favor, but now...??? Not so sure.

You are misinformed. The printing of money out of thin air benefits the wealthy and connected that get the "new money" first. Everyone else gets the value of their money reduced (i.e., stolen).