On my summer/fall read list is a book called Killing Jesus written by Bill O’Reilly. There are two things I can assure you about this book, even before I read it. One, it will spend months atop the bestseller’s list, and two, it will be extremely controversial as well – nothing stirs emotions like religion. Regardless your faith, regardless your view, the Bible is full of fascinating factual mentions of money. For the record, there is no mention, to my knowledge, of paper currency…… just silver and gold. With that, let’s dive into one of the most intriguing mentions of “real wealth” in human history.
I recently had an interesting consultation with a pastor of a small church. One comment this pastor made stands out as much, or more, than anything I’d heard before as a PM consultant. As our hour began to wrap, he said, “Well, if silver/gold are good enough for God – then they’re good enough for me. I need no other proof than this.”
Now folks, I’ve heard every reason under the sun to own gold, but this was a faithful first. This man’s faith leads me to ask if it’s possible we’re over thinking personal investing and monetary rule. Is it possible our world is so economic chaotic because of our failure to follow biblical recommendations of sound money? As with all things written here at TPS, the final decision is yours and yours alone.
The word gold is mentioned 417 times in the King James Bible. Silver, respectively, is mentioned 320 times and the world for money is mentioned an additional 140 times, as well. Both Hebrew and Greek words for silver/gold/money are mentioned throughout the bible and always regarded as noble, rare, durable, and malleable. It is estimated that Solomon’s Temple was made of over 3000 tonnes of gold (measured in talent, a talent is equal to 75 pounds).
To this day, each time we describe an athlete or entertainer as talented – we’re comparing these individuals to silver or gold according to biblical terminology. The bible often mentions Kings and Queens paid in gold/silver as part of God’s commandment. Not only does the bible compare PM to wealth but both Old and New Testaments compare the metal to knowledge, wisdom and faith.
Gold and silver are often compared to spiritual wealth within the bible. Some confuse 1 Timothy 6:10 with money as the root of all evil, but the scripture is often misunderstood. The correct reference is “for the love of money is the root of all kinds of evil”.
While researching today’s post I found myself intrigued. Few in today’s society stop to consider what the most popular book written has to say about silver, gold, or all things monetarily significant. By the way and for those interested, the bible makes the first mention of gold within the first few hundred words of Genesis (first book of the Old Testament). Genesis[2:12] “and the gold of that land is good; bdellium and onyx stone are there.”
The word of God & gold in 2013:
Few will argue the monetary role of sound money in biblical terms. It is obvious gold’s primary purpose was, and still is, storage of wealth and value while silver’s purpose was, and still should be, used for daily trade. I personally believe that God created gold to be the foundation of an economic system that would be solid, stable and not subject to manipulation.
Flashing forward to 2013 we find physical silver and gold somewhat irrelevant in today’s economic system. Not one currency on earth still uses a gold standard to restrain government fiscal irresponsibility or monetary stability. This means it’s up to each of us individually to find and follow a monetary plan founded on sound money and fiscal prudence.
Not a day passes without someone reminding me that both silver and gold are worth much less than not long ago. I can’t argue this fact but the truth is today’s PM price has little to do with a monetary law of sound money principles. It is only from manipulation and intervention that we question, or even doubt, the benefit of storing wealth in precious metal.
Over the last few weeks we are reminded what happens when governments expand without restraint or fiscal prudence. The losses of American liberties are now too long to list but few associate how today’s fiat system allows leadership to expand without constraint. This trend, in my opinion, will worsen as fiat economies continue to rob the wealth of those not protected with sound money (silver or gold).
No different today than the words written thousands of years ago, “and the gold of the land is good”.
QUESTION: I read where you still buy silver each month. Do you buy online or in person?
TPS Reply: This is true; I still buy physical silver each month and have no plans to stop. Purchasing silver online or in person each has benefits over the other. Online precious metal brokers and dealers can sell physical PM, usually, for less than brick-and-mortar outlets. The key, regardless the method, is to find someone reputable that is willing to play a vital role in your long-term PM plan. To answer your question I use both methods to add to my stack.
The thought of purchasing physical metal stirs anxiety within most new to silver or gold. Even the author of a NY Times bestseller on investing once admitted, to me, her fear while making a first online gold purchase. The goal here at TPS is to offer peace of mind for those willing to trade fiat dollars for sound money. The key is to know what you what to buy, and willing to pay, before contacting a PM seller.
The benefit of buying silver in person is obvious. You hand the seller cash and they in return hand you physical silver. No waiting, no prolonged anxiety either. Another benefit of buying in person is developing a local PM relationship just in case you need to liquidate a few ounces in haste. Regardless the method, my advice is to ask plenty of questions all while practicing due diligence along the way. Thanks for the question.
DC Carlton is founder of The Prospector Site and author of the Amazon Kindle #1 Bestsellers Why Silver and Gold Will Go Higher and Storing Silver & Gold. If you’re looking for trustworthy PM assistance feel free to contact DC regarding his personalized consulting service. TPS doesn’t sell silver or gold; we represent you, the buyer, looking for affordable precious metal from honest trustworthy sources. Feel free to register here for his free online newsletter that provides precious metal insight rarely mentioned from mainstream media sources.