In this discussion, Mike Winther explores the significant topic of charity. Mike approaches this subject with caution to ensure that our actions align not only with our intentions but also with what God intends. He discusses the arguments for both large and small government structures, highlighting two main reasons why government expansion occurs. Mike examines what the Bible says about charity and assisting the poor, and he contrasts God's model of charity with that of Karl Marx.
Additionally, Mike addresses the issue of inflation, the increase in the money supply, and rising prices. We learn how inflation lowers the standard of living and serves as another means of wealth redistribution. The discussion also covers the influence of the wealthy and the pivotal meeting at Jekyll Island that led to the establishment of the Federal Reserve. Often, the solutions we devise are part of the problem itself. We further explore how inflation negatively impacts savings.
You'll Learn:
[01:03] What happens when we increase the money supply?
[02:34] Inflation reduces our standard of living and is another method of redistribution of wealth.
[03:16] Inflation is a hidden tax and even a moral evil.
[09:08] Mike talks about the private rail car taking the wealthy men who established the Federal Reserve to Jekyll Island. This gives monopoly control over our currency and interest rates to the semi-public semi-private institution.
[10:41] The Federal Reserve Act was sold as something to help the little guy. It actually did just the opposite.
[12:55] Mike talks about campaign finance reforms and how they backfired. It led to longer terms of office for the incumbents.
[16:17] Mike shares a hypothetical scenario that compares kids stealing a widows savings to losing savings when inflation is higher than interest rates.
[18:14] We have an ethical obligation to do something when we know an evil is occurring.
[21:01] Mike talks about how the government finances deficits. Methods include bonds, borrowing from foreign investors, and having the Federal Reserve create money in exchange for a bond.
[26:14] Debt is a bad thing.
[27:21] There's a battle over the size of the government.
[28:08] When people's safety feels threatened they allow the government to get bigger. We also expand government to help the poor.
[29:09] Who gets charity? Who gives charity? What are the standards for charity?
[30:03] Deuteronomy 10:17 through 19. Deuteronomy 14:28. Deuteronomy 24:19.
[38:10] The practical applications of this course are going to multiply. It's always a good idea to look at principles.
[42:26] Should we be forced to pay for someone else's education against our will?
[46:30] Is there a right to freedom of movement? What are the circumstances where you could legitimately reject someone from coming here?
[46:57] Individualism says the individual is most important. Collectivism says the group is most important.
