Steven Menking – The Amateur Society Current Economic Events & Practical Philosophy 1
Educational and Professional Background • Education • Internships • Professional • Current 2
Disclaimers • I am not a licensed financial advisor • My opinions represent my own research • I make mistakes • Take everything said here to the Lord in prayer and to the Word of God for confirmation 3
First: Get Right With God! • The economy of God takes priority over the economy of man • We cannot properly prepare for and deal with • Matthew 6:19-21 what is coming in our own strength • Lay not up for yourselves treasures upon earth, where moth and rust doth • Our financial affairs corrupt, and where thieves break through and steal: But lay up for yourselves cannot be put in order treasures in heaven, where neither moth nor rust doth corrupt, and where until our spiritual affairs thieves do not break through nor steal: For where your treasure is, there will are in order your heart be also. • Seeking the kingdom of God comes before our material needs • Matthew 6:31,33-34 • Therefore take no thought, saying, What shall we eat? or, What shall we drink? or, Wherewithal shall we be clothed?... But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you. Take therefore no thought for the morrow: for the morrow shall take thought for the things of itself. Sufficient unto the day is the evil thereof. • Does this imply that we should completely ignore financial affairs?... • Not at all! We are commanded to occupy and be stewards. However, in order to make proper financial decisions and prepare according to our moral duties we need to be in right relationship with God and to follow the leading of the Holy Spirit. 4
Second: Get Wisdom and Understanding • In order to make the right choices we need to have wisdom and understanding • The decisions you make for yourself and for • Proverbs 16:16 your family should be informed by prayer, the Word, and the Holy Spirit • How much better is it to get wisdom than gold! and to get understanding rather to be chosen than silver! • Please use this presentation as an • God is the source of wisdom and understanding educational resource, but go directly to God for • Proverbs 9:10 these crucial decisions • The fear of the Lord is the beginning of wisdom: and the knowledge of the holy is understanding. • In light of this, what should we do? • Go right to the source! We are commanded to pray without ceasing and because of Jesus we can come boldly to the throne of grace and ask for our eyes to be opened to the will of God for our lives and our ears to be unstopped that we would hear the Holy Spirit and the voice of God. 5
Third: Educate Yourself • Here are two YouTube playlists outlining critical basic information that are presented in a way that everyone can understand • Mike Maloney – Hidden Secrets of Money • https://www.youtube.com/watch?v=DyV0OfU3- FU&list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ • Eric deCarbonnel – The Exchange Stabilization Fund and Its History • https://www.youtube.com/watch?v=DyV0OfU3- FU&list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ • Other resources I follow regularly (not all approach economic matters from the Christian worldview) • Hagmann & Hagmann Report • TruNews • Steve Quayle • Caravan to Midnight • Weekend Vigilante • Peter Schiff • Bo Polny • Rob Kirby • Jim Willie • Gregory Mannarino • X22 Report • SRSrocco Report • ZeroHedge (avoid the comments section) 6
Fourth: Understand History • Understanding our past is the key to understanding our future • Ecclesiastes 1:9 • The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun. • The US petrodollar regime • Fiat currency • World reserve currency • Accumulation of debt and credit • The Federal Reserve • Threats to the petrodollar 7
Fifth: Be Aware of Current Events • Recognizing the economic signs of the times • Timeline from TruNews • http://www.trunews.com/37-events-which-signal-death-to-the-petrodollar/ • Key Themes • Saudi Arabia • Oil prices • Political turmoil • Global trade • Bank bail-ins • Negative interest rates (parable of the talents) • Parallel financial structures • Market manipulation • Precious metals • Shanghai Gold Exchange gold price benchmark begins tomorrow (April 19) 8
Sixth: Establish Priorities • Getting rid of counterparty risk • In the next credit crisis it will be difficult if not impossible to obtain anything that you own on paper but is not in your possession • Remove as much as you can from the financial system following proper protocol • Shift into tangible assets as anything connected to the current architecture is at total risk even in assets that have historically been considered risk-free • Specific tactical recommendations • If you are not a professional trader get out of the stock markets • Make sure you have clean food and water • Be able to physically protect yourself • Have some cash on hand for short term protection against capital controls • Shift surplus savings into silver and gold (http://sqmetals.com/) • Move your retirement accounts so that they can be used to purchase the kinds of tangible assets that will actually retain their value (https://survival401k.com/) • Pay down as much debt as possible 9
Seventh: Be Urgent and Diligent but Not Fearful • When should action be taken? • Immediately. • What do I do? • Seek God • Cry out in prayer • Ask for guidance • Listen for instructions • Obey God’s Word and the Holy Spirit • Take all necessary actions • Give everything to God and take everything to the Lord. Jesus is faithful and true! • 2 Timothy 1:7 • For God hath not given us the spirit of fear; but of power, and of love, and of a sound mind 10
Question & Answer Email: amateursociety@gmail.com The Amateur Society: https://www.facebook.com/theamateursociety Skype: amateursociety Join us on Skype Mondays at 8:00pm Eastern for our weekly call discussing philosophy, economics, and current events May God bless you and keep you in Jesus’ name! 11
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