Prosperity gospels miss out on the point that our great examples are about labour in service to God, not wealth. If we regard gambling as evil, why do we respect it in the form of the Stock Market? We ought not to place trust in gambling. There may indeed be an issue soon as on 27 June 2017 it was reported that the new American Treasury Secretary Yellan had predicted: I Don't See a Financial Crisis Occurring 'In Our Lifetimes'. (After writing this GameStop exploded)
Labour not to be rich: cease from thine own wisdom. Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle toward heaven. Eat thou not the bread of him that has an evil eye, neither desire thou his dainty meats: (Proverbs 23:4-6)
Our Heavenly Father set out many principles of life. One principle is that we are to be like God himself who forgives our debts, and forgive our brother's debts against us. Those whose words are like swords, and who have no mercy at all, exact every debt, rather than asking their Heavenly Father to revenge with right judgement.
As symbol of moral debt forgiveness in the Commonwealth of Israel, God asked his peculiar people at the beginning of every seventh year to release all debtors from their obligations, so the unpaid portion of a loan became a gift.
At the end of every seven years thou shalt make a release. And this is the manner of the release: Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother; because it is called the LORD'S release. (Deuteronomy 15:1-2)
We do not know how long they kept this practice, but modern Jewish practice keeps the 'letter of the law' but avoids it totally in 'spirit'.
The Shemittah year waives all outstanding debts between Jewish debtors and creditors.
[Nowadays, a halachic mechanism called pruzbul circumvents this loan amnesty. chabad.org
(Keeping in mind that GameStop has produced a credit crisis: The platform 'for small investors' Robinhood that led the trading in GameStop Shares to take on the Hedge Funds “is Said to Draw on Credit Lines from Banks Amid Tumult”: Zero Hedge Jan 29 Twit “The firm reportedly drew on a line of credit from six banks amounting to between $500 million and $600 million to meet higher margin, or lending, requirements from its central clearing facility for stock trades” zerohedge.com)
Back in 2009 we wrote how globally the world had kept the year of release in the financial crisis.
In 2007/8, the most recent 7th year, the whole world experienced the effect of the release from debt of the Shmita year. In September 2007, the beginning of the 7th year, the Northern Rock Bank in England had troubles. But the real action was to be in the USA where from the end of 2007 loan defaults of sub-prime loans increased sharply. The year ended with the debts of a bank Lehmann Bros linked to Israel being cleared (in bankruptcy), at the same time as the Law required people to remit debts owned to their brethren. And the 1st year of the new 'week' began with the US government voting a package to rescue those who could not pay their debts, which was followed by many other nations. biblefocus Times Appointed Part 3 Sabbath
In 2009 we optimistically hoped that the next new Shemittah year of 2014 where Jews forgave debt it would bring our redemption - when all debt is finally forgiven. This did not occur. CNN money reported Sept. 30 after the Sept 24 the Jewish New Year the 'September stock slump' came back with a vengeance in 2014 and America was chasing banks globally with threats so they could access foreign accounts of Americans to pay their debts to the IRS.
Then on 27 June 2017 it was reported that Janet Yellen who was Chair of the Fed said they are much safer..
"Would I say there will never, ever be another financial crisis? ... Probably that would be going too far. But I do think we're much safer, and I hope that it will not be in our lifetimes, and I don't believe it will be," Yellen said. usnews.com
She also has said recently she wants to address income inequality and that climate change is “an existential threat” to the US economy. (The complaint from the traders of Robinhood is that they are being treated unfairly as the system is corruptly rigged against them, a system that Yellen was paid millions by including about $800,000 from Citadel that is invested in Melvin Capital the Hedge Fund at the centre of the GameStop Crisis! Melvin Capital is on the point of Bankruptcy)
Now she has power over the US Treasury. Already it is noted by a commentator that focuses on the stock market that it: is appropriate in a time when the Fed and Treasury are now inexorably linked as part of helicopter money which requires the constant cooperation of the debt printing and debt monetizing branches of universal basic income enabling government, which is where we find ourselves right now..
With her ascent to the Treasury Secretary post, which is also the top regulator of all US banks and financial companies, spending on Yellen speeches in the 2018-2020 period has just become the best return on investment for the dozens of firms (and especially Citadel) which paid Yellen $7.3 million in the past two years, and to whom the new Treasury Secretary now owes a "favor.”zerohedge.com
Then the commentator speaks of “the next crisis.” (GameStop hadn't broken yet!)
Many are speaking of those who are gambling in their greed affecting the Stock Market.
The integrity of the upright shall guide them: but the perverseness of transgressors shall destroy them. Riches profit not in the day of wrath: but righteousness delivereth from death. (Proverbs 11:3-4)
America has the highest debt in the world. Already in this year of 2021 the idea of debt forgiveness is out there with a promise to 'forgive' American student loans (with more American Treasury debt?). American student debt is large and a burden as the educational institutions are expensive, and those that loan for the education will do so even if the student has no aptitude to excel. There was also talk of reparations for slavery (another kind of debt forgiveness). America has trusted in its wealth.
He that trusteth in his riches shall fall: but the righteous shall flourish as a branch. (Proverbs 11:28)
Those that are upset over income inequality always miss the essential point of wisdom:
There is that maketh himself rich, yet hath nothing: there is that maketh himself poor, yet hath great riches. (Proverbs 13:7)
And Jesus looked round about, and saith unto his disciples, How hardly shall they that have riches enter into the kingdom of God! (Mark 10:23)
We may be soon given a great lesson on what is really important in life. We have had to give up socialising due the virus that emerged in Wuhan and then has mutated as it spreads about the world. We trust in God for our very life. Some have made money safely at home in stocks while others have been deprived of jobs, so they might also soon be taught that riches fly away. We trust in God for income and food. It is felt that there are issues with a Treasury led by the very rich Yellan due to her history with the Fed, but precisely when the pending crisis emerges is not yet known… (Is GameStop the beginning? Already there is great distress and protest!) Janet Yellan is Jewish. Due to 'identity' being a thing of note rather than performance, she is noted as 'the first Jewish woman' to be Secretary of the Treasury. The Jewish New Year where debt is forgiven occurs September 7 this year. The advice of Paul seems very relevant.
Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy; That they do good, that they be rich in good works, ready to distribute, willing to communicate; Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life. (1 Timothy 6:17-19)
