Sunday, September 21, 2008

If we were really a Christian nation . . .

If we were REALLY a Christian nation, or if all these "Christians" would read their friggin' bible, we wouldn't be in this credit crisis on the brink of a depression:

“He shall lend to you, but you will not lend to him; he shall be the head, and you will be the tail. So all these curses shall come on you and pursue you and overtake you until you are destroyed, because you would not obey the Lord your God by keeping His commandments and His statutes which He commanded you” (Deuteronomy 28:44-45).

Psalm 37:21, The wicked borrows and does not pay back, but the righteous is gracious and gives.”

Proverbs 22: 26-27
Be not you one of them that strike hands, or of them that are sureties for debts. If thou hast nothing to pay, why should he take away thy bed from under thee?

The only biblical way to borrow:*

Probably the most misunderstood financial principle in God's Word is His prohibition against surety (Proverbs 22:26-27 above). Surety is assuming an obligation to pay indebtedness without a sure way to pay it. Non-collateralized loans and cosigning are examples of surety.

Surety means that we presume on the future. If everything goes as expected, we should be able to pay the money back. But, if something goes wrong and we are not able to repay, then we are left with a debt.

It is only when collateral has been placed as security against the loan that is equal in value to the loan that we can avoid surety. If we are unable to pay the loan back, the creditor can repossess and sell the collateral, which will satisfy the total amount of the loan.

The Bible cautions against any type of loan that is not totally collateralized. If Christians would observe this one caution associated with borrowing, the most they could lose would be the security they had pledged against the loan.

* everything from this point was lifted completely from (http://www.crown.org/LIBRARY/ViewArticle.aspx?ArticleId=683)

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I am the author of 5 books: Android Down, Firewood for Cannibals, The Cubicles of Madness, Robot Stories, and most recently, Various Meats and Cheeses. I live and write in Michigan. My website is at danmanning.com