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Ezra Taft Benson predicts the economic future

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The root of all evil is money, some say. But the root of our money evil is government. The very beginning of our troubles can be traced to the day when the federal government overstepped its proper defensive function and began to manipulate the monetary system to accomplish political objectives. The creation of the Federal Reserve Board made it possible in America for men arbitrarily to change the value of our money. Previously, that value had been determined solely by the natural interplay of the amount of precious metals held in reserve, the value men freely placed on those precious metals, and the amount of material goods which were available for sale or exchange. (An Enemy Hath Done This, pp. 213-14.)

The pending economic crisis that now faces America is painfully obvious. If even a fraction of potential foreign claims against our gold supply were presented to the Treasury, we would have to renege on our promise. We would be forced to repudiate our own currency on the world market. Foreign investors, who would be left holding the bag with American dollars, would dump them at tremendous discounts in return for more stable currencies, or for gold itself. The American dollar both abroad and at home would suffer the loss of public confidence. If the government can renege on its international monetary promises, what is to prevent it from doing the same on its domestic promises? How really secure would be government guarantees behind Federal Housing Administration loans, Savings and Loan Insurance, government bonds, or even Social Security?

Even though American citizens would still be forced by law to honor the same pieces of paper as though they were real money, instinctively they would rush and convert their paper currency into tangible material goods which could be used as barter. As in Germany and other nations that have previously traveled this road, the rush to get rid of dollars and acquire tangibles would rapidly accelerate the visible effects of inflation to where it might cost one hundred dollars or more for a single loaf of bread. Hoarded silver coins would begin to reappear as a separate monetary system which, since they have intrinsic value would remain firm, while printed paper money finally would become worth exactly its proper value-the paper it is printed on! Everyone's savings would be wiped out totally. No one could escape.

One can only imagine what such conditions would do to the stock market and to industry. Uncertainty over the future would cause the consumer to halt all spending except for the barest necessities. Market for such items as television sets, automobiles, furniture, new homes, and entertainment would dry up almost overnight. With no one buying, firms would have to close down and lay off their employees. Unemployment would further aggravate the buying freeze, and the nation would plunge into a depression that would make the 1930s look like prosperity. At least the dollar was sound in those days. In fact, since it was a firm currency, its value actually went up as related to the amount of goods, which declined through reduced production. Next time around, however, the problems of unemployment and low production will be compounded by a monetary system that will be utterly worthless. All the government controls and so-called guarantees in the world will not be able to prevent it, because every one of them is based on the assumption that the people will continue to honor printing press money. But once the government itself openly refuses to honor it-as it must if foreign demands for gold continue-it is likely that the American people will soon follow suit. This, in a nutshell, is the so-called "gold problem." (An Enemy Hath Done This, pp. 216-18.)

We have been feeling the exhilarating effects of inflation and have become numbed to the gradual dissipation of our gold reserves. In our economic stupor, when we manage to think ahead about the coming hangover, we have merely taken another swig from the bottle to reinforce the artificial sensation of prosperity. But each new drink at the cup of inflation, and each new drain on the gold supply of our bodily strength does not prevent the dreaded hangover, it merely postpones it a little longer and will make it that much worse when it finally comes. What should we do? We should get a hold on ourselves, come to our senses, stop adding to our intoxication, and face the music! (An Enemy Hath Done This, p. 218.)


(Ezra Taft Benson, The Teachings of Ezra Taft Benson [Salt Lake City: Bookcraft, 1988], 639.)
NoGreaterLove
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Ezra Taft Benson predicts the economic future

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Re: Ezra Taft Benson predicts the economic future

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This is brilliant, thank you!

I just ordered "An Enemy Hath Done This" and I'm stoked to read it. I always wondered if EZB had written/spoke about the Federal Reserve...

Why don't more LDS people wake up!

Anyone have more quotes from EZB on the Fed?
Last edited by iamse7en on Wed Oct 06, 2010 9:21 am, edited 1 time in total.
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Re: Ezra Taft Benson predicts the economic future

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I think the unemployment and escalated food prices we are going to see are the catalyst for the civil uprising in the U.S. which is pending.
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Re: Ezra Taft Benson predicts the economic future

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The thin veneer of civilization...
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Re: Ezra Taft Benson predicts the economic future

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iamse7en asks "Why don't more LDS people wake up?

1.) Many are overwhelmed with demanding job and family concerns that can be very draining on one's time and energy. Add on to that the challenges of church callings.

2.) Most are unfamiliar with the scriptures and past statements of prophets and apostles that call them to wake up.

3.) Most do not hear the subtle and infrequent calls by the Prophet and Apostles to wake up.

4.) Many do not want to address the very things they are commanded to wake up to because they can be so overwhelming.

5.) Many people who are awake do not make adequate attempts to awaken others.
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Re: Ezra Taft Benson predicts the economic future

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I agree completely. While recently serving in a Bishopric, our Bishop, in council, would ask things like, why this or why that? When I would give him insight based on my awakening and then show the parallels in the BOM, he would get the deer in a headlight look and tell me its not that way. The mist of darkness in Lehi's vision is thicker than I've ever imagined. I now am YM Pres. and am even more alarmed at the numbness. If we have to go another generation without more awakenings, were in for it.
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Re: Ezra Taft Benson predicts the economic future

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How absolutely pessimistic.....for shame!

Bang on though! Optimistically just means we are one step closer to Zion! Hallelujah!
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Re: Ezra Taft Benson predicts the economic future

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I think I feel RAIN..............................................................., my boat, where is it? :wink: :idea:
There are no mysteries, only undiscovered truths, have you found one today?
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Re: Ezra Taft Benson predicts the economic future

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d_no's comment calls my attention to a lack of awareness that I think could be remedied by the counsel given by President Uchtdorf, speaking in the Priesthood session of the October 2009 General Conference, as he told us that “For members of the Church, education is not merely a good idea—it’s a commandment. We are to learn (quoting part of D&C 88:79) “of things both in heaven and in the earth, and under the earth; things which have been, things which are, things which must shortly come to pass; things which are at home, things which are abroad;” The conference report referenced the entire verse, which continues “The wars and the perplexities of the nations, and the judgements which are on the land; and a knowledge also of countries and of kingdoms–"
I consider this a commandment because the word is used in Verse 77 and I think it appllies every bit to Verse 79. We are expected to find out as best we can what has been and what is going on in the world, and what is prophecied in our future.

This is a challenging assignment, since nearly all news reports consist of varying elements of truth, 1/2 truth, error, and disinformation. But as with other commandments, "I know that the Lord giveth no commandment s unto the children of men, save he shall prepare a way for them to accomplish the thing which he comandeth them."

I bring this up because of my awareness of people who scorn the idea of even listening to or reading MSM news reports, let alone other news sources because they say it upsets them and detracts from their spirituality.
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Re: Ezra Taft Benson predicts the economic future

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lundbaek wrote:d_no's comment calls my attention to a lack of awareness that I think could be remedied by the counsel given by President Uchtdorf, speaking in the Priesthood session of the October 2009 General Conference, as he told us that “For members of the Church, education is not merely a good idea—it’s a commandment. We are to learn (quoting part of D&C 88:79) “of things both in heaven and in the earth, and under the earth; things which have been, things which are, things which must shortly come to pass; things which are at home, things which are abroad;” The conference report referenced the entire verse, which continues “The wars and the perplexities of the nations, and the judgements which are on the land; and a knowledge also of countries and of kingdoms–"
I consider this a commandment because the word is used in Verse 77 and I think it appllies every bit to Verse 79. We are expected to find out as best we can what has been and what is going on in the world, and what is prophecied in our future.

This is a challenging assignment, since nearly all news reports consist of varying elements of truth, 1/2 truth, error, and disinformation. But as with other commandments, "I know that the Lord giveth no commandment s unto the children of men, save he shall prepare a way for them to accomplish the thing which he comandeth them."

I bring this up because of my awareness of people who scorn the idea of even listening to or reading MSM news reports, let alone other news sources because they say it upsets them and detracts from their spirituality.

Great observation and post! I agree! With so much mis information out there, the one source we can look to is the prophets and apostles. I believe it is imperative that we flood ourselves with truths from reliable sources to counter the flood of untruths that come our way daily.
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Re: Ezra Taft Benson predicts the economic future

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Prophets, both ancient and latter-day, have given us a certain amount of information Re. what is going on. For example, Nephi (ben Lehi) told us there would be secret combinations according to the combinations of the devil in our day. (2 Nephi 26: 14 & 22) Moroni also told us that a secret combinations would be among us. (Ether 8: 24) Other Book of Mormon prophets told us what the ancient secret combinations (a.k.a. gadiantons) strived for: wealth and control of government. A modern prophet (all be it a "dead prophet") told us that "A secret combination that seeks to overthrow the freedom of all lands, nations and countries is increasing its evil influence and control over America and the entire world." An apostle wrote that "Satan has control now. No matter where you look, he is in control, even in our own land. He is guiding the governments as far as the Lord will permit him." Another apostle told us that "Gadianton robbers fill the judgement seats in many nations. An evil power seeks to overthrow the freedom of all nations and countries." Then there is the recent reminder by President Packer in the August Ensign of the warning Moroni gave us. At the moment I cannot think of any deeper details other that the warnings of modern prophets and apostles about dangerous threats to our Constituiton. It seems we are left to ourselves to ferret out any details as we wish and as they concern us. It seems to me the Lord does help us with this as we do our own homework first.
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Re: Ezra Taft Benson predicts the economic future

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iamse7en wrote: Why don't more LDS people wake up!


Are you kidding? LDS can't follow the simplest of commandments, ugh... er... I mean suggestions from the Pro...um Presidency of the Church.

The saints abondoned Zion for Babylon shortly after reaching SLC. They are still enjoying it. They have large homes, boats, cars, vacations, and all the food & clothes they desire. The members who are most adapted to Babylon are trumpeted as heros and role models. Why would anyone want to wake up from such a delightful dream?
God give me courage to be the man the times require.
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Re: Ezra Taft Benson predicts the economic future

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tribrac wrote:
iamse7en wrote: Why don't more LDS people wake up!


Are you kidding? LDS can't follow the simplest of commandments, ugh... er... I mean suggestions from the Pro...um Presidency of the Church.

The saints abondoned Zion for Babylon shortly after reaching SLC. They are still enjoying it. They have large homes, boats, cars, vacations, and all the food & clothes they desire. The members who are most adapted to Babylon are trumpeted as heros and role models. Why would anyone want to wake up from such a delightful dream?


What? having large homes and boats, cars, vacations, etc....what does this have to do with following commandments or not? or ow does that make saints living in babylon? It might be nice not to make such broad statements.

I'm sure there are a lot of Apostles who weren't born nor lived/grew up in SLC...and some probably have a car...maybe 2. perhaps a boat, that they use on vacation.

waking up and realizing what is going on doesn't require giving up or never acquiring those things either...

Sorry, if I'm misunderstanding your post
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