World economic collapse: Why? – And how to fix it!

Meanwhile, the cost of the war in Iraq continues to rise; Nobel Prize-winning economist Joseph Stiglitz estimates that its expenditures will soon reach $3 trillion ("The $2 Trillion Nightmare," New York Times, March 4, 2008). The Wall Street Journal recently reported: "It's time the candidates devote less time on the minutiae of configuring the next economic stimulus package, or renegotiating the North American Free Trade Agreement. They should be thinking about how they will confront the imminent global currency crisis" ("It's the Dollar, Stupid," Wall Street Journal, March 5, 2008).

On April 2, 2008, the chairman of Swiss bank UBS resigned abruptly, as his institution reported a first-quarter loss of $12.1 billion and expects to write-down $19 billion because of the U.S. subprime lending crisis. Deutsche Bank has announced expected first-quarter write-downs of $4 billion, thanks to "significantly more challenging" market conditions triggered by the U.S. subprime collapse. The international banking system is on the edge; it appears that the moneychangers' tables are being overturned (Matthew 21:12).

The U.S. dollar has not been backed by gold, or any real value, for more than a generation. Its only value is the trust investors place in it. Now that trust is being lost, as greedy American mortgage lenders have caused billions of dollars in investments to become almost worthless! Banks and mortgage companies lent money to borrowers who could never afford to pay it back, and then sold the mortgages to domestic and foreign investors who now find they are holding worthless paper.

Why must the world's economy seemingly go through a drastic downturn every 50 or 60 years? Is there a financial system that would work better than all those that have been tried down through the ages? Communism, socialism, capitalism and every other economic system devised by man have all ended in debacle. Is there a system we have not yet tried, which would prevent the "boom and bust" cycles that now plague the world economy?

Yes, there is! It was established millennia ago, and even worked for a while before greedy men abandoned it and it fell into disuse. Put simply, in this system all loans are forgiven every seventh year, all debtors are released from their obligations. No interest is charged within the community. In this system, lenders obviously become very careful in making loans.

Additionally, almost all leases and land transfers are cancelled every 50 years, and the land returns to the family that originally owned it. This prevents too much wealth from being concentrated in the hands of just a few, and gives every family a "clean slate" financially every generation or two.

Where can we find this marvelous plan? You can read all about it in your Bible (Leviticus 25; Leviticus 27; Deuteronomy 15:1-11).

When Jesus Christ returns to establish His millennial rule over the earth, this is the financial plan that will be in effect everywhere! Poverty will be banished under this system. Free enterprise will flourish, but businesspeople will no longer be able to oppress their workers, their customers or their investors. Why wait for the Millennium? You can have God as your "financial partner" even now. Read our booklet God's People Tithe!, available in the booklet section of this site, or order a printed copy at absolutely no charge!