April 16, 2024

Did the Book of Mormon Foretell Inflation and Central Banking?

Did the Book of Mormon Foretell Inflation and Central Banking?

Intro:

The Book of Mormon is another testament of Christ, an ancient record translated by a modern day prophet named Joseph Smith in the early 1800’s. 

While the book and its origins are controversial to some, I have spent years studying doctrine of Catholicism and the Church of Jesus Christ of Latter-day Saints, and my faith lies with the latter. 

I view the Book of Mormon and the Bible similarly; both teach God’s word and point me to Christ. I study them both and find no contradictions between the two testimonies. I believe both come from the House of Israel, although one is a record of the old world, and the other a record from the new world, or Americas.

I am a Christian, and believe Christ is my Savior. I worship Christ and believe he worked out salvation for all who follow Him.

Joseph Smith was an uneducated young man and knew little of the world when he translated the Book of Mormon. I believe he was a prophet similar to Samuel, or many other prophets in Old and New Testament times.

Please consider reading this no matter your opinion on this particular church and book, I think you’ll find it interesting and engaging.

The Book of Mormon is an account of a group of ancestors of the native Americans, when a group of people fled Jerusalem around the time of Jeremiah, built ships, and made it to America (600 B.C.)

There, they lived the law of Moses and built civilizations, had times of peace and war, were visited by Christ after His resurrection and then fell into apostasy around 400 A.D.

Christ's Visit Post Resurrection and The Establishment of a Zion Society

In 4th Nephi vs 2-3 a Zion community is established similar to what is described in Acts 4 & 5. This takes place after Christ visits the people in America, teaches them the higher law, and ordains 12 apostles on the American continent.

2 And it came to pass in the thirty and sixth year, the people were all converted unto the Lord, upon all the face of the land, both Nephites and Lamanites, and there were no contentions and disputations among them, and every man did deal justly one with another.

3 And they had all things common among them; therefore there were not rich and poor, bond and free, but they were all made free, and partakers of the heavenly gift.

7 And the Lord did prosper them exceedingly in the land; yea, insomuch that they did build cities again where there had been cities burned.

10 And now, behold, it came to pass that the people of Nephi did wax strong, and did multiply exceedingly fast, and became an exceedingly fair and delightsome people.

11 And they were married, and given in marriage, and were blessed according to the multitude of the promises which the Lord had made unto them.

12 And they did not walk any more after the performances and ordinances of the law of Moses; but they did walk after the commandments which they had received from their Lord and their God, continuing in fasting and prayer, and in meeting together oft both to pray and to hear the word of the Lord.

13 And it came to pass that there was no contention among all the people, in all the land; but there were mighty miracles wrought among the disciples of Jesus.

15 And it came to pass that there was no contention in the land, because of the love of God which did dwell in the hearts of the people.

16 And there were no envyings, nor strifes, nor tumults, nor whoredoms, nor lyings, nor murders, nor any manner of lasciviousness; and surely there could not be a happier people among all the people who had been created by the hand of God.

17 There were no robbers, nor murderers, neither were there Lamanites, nor any manner of -ites; but they were in one, the children of Christ, and heirs to the kingdom of God.

18 And how blessed were they! For the Lord did bless them in all their doings; yea, even they were blessed and prospered until an hundred and ten years had passed away; and the first generation from Christ had passed away, and there was no contention in all the land.

Zion Society Begins to Fail:

Things changed in vs 20:

20 … and there was still peace in the land, save it were a small part of the people who had revolted from the church and taken upon them the name of Lamanites; therefore there began to be Lamanites again in the land.

They began to get rich and divide into classes:

23 And now I, Mormon, would that ye should know that the people had multiplied, insomuch that they were spread upon all the face of the land, and that they had become exceedingly rich, because of their prosperity in Christ.

24 And now, in this two hundred and first year there began to be among them those who were lifted up in pride, such as the wearing of costly apparel, and all manner of fine pearls, and of the fine things of the world.

25 And from that time forth they did have their goods and their substance no more common among them.

26 And they began to be divided into classes; and they began to build up churches unto themselves to get gain, and began to deny the true church of Christ.

27 And it came to pass that when two hundred and ten years had passed away there were many churches in the land; yea, there were many churches which professed to know the Christ, and yet they did deny the more parts of his gospel, insomuch that they did receive all manner of wickedness, and did administer that which was sacred unto him to whom it had been forbidden because of unworthiness.

28 And this church did multiply exceedingly because of iniquity, and because of the power of Satan who did get hold upon their hearts.

29 And again, there was another church which denied the Christ; and they did persecute the true church of Christ, because of their humility and their belief in Christ; and they did despise them because of the many miracles which were wrought among them.

Two Factions Form - the Nephites and Lamanites:

35 And now it came to pass in this year, yea, in the two hundred and thirty and first year, there was a great division among the people.

36 And it came to pass that in this year there arose a people who were called the Nephites, and they were true believers in Christ; and among them there were those who were called by the Lamanites—Jacobites, and Josephites, and Zoramites;

37 Therefore the true believers in Christ, and the true worshipers of Christ, (among whom were the three disciples of Jesus who should tarry) were called Nephites, and Jacobites, and Josephites, and Zoramites.

38 And it came to pass that they who rejected the gospel were called Lamanites, and Lemuelites, and Ishmaelites; and they did not dwindle in unbelief, but they did wilfully rebel against the gospel of Christ; and they did teach their children that they should not believe, even as their fathers, from the beginning, did dwindle.

39 And it was because of the wickedness and abomination of their fathers, even as it was in the beginning. And they were taught to hate the children of God, even as the Lamanites were taught to hate the children of Nephi from the beginning.

40 And it came to pass that two hundred and forty and four years had passed away, and thus were the affairs of the people. And the more wicked part of the people did wax strong, and became exceedingly more numerous than were the people of God.

41 And they did still continue to build up churches unto themselves, and adorn them with all manner of precious things. And thus did two hundred and fifty years pass away, and also two hundred and sixty years.

Government Corruption:

Reintroduction of Gadianton robbers, who infiltrate the government, causing chaos, and potentially stealing via monetary debasement:

42 And it came to pass that the wicked part of the people began again to build up the secret oaths and combinations of Gadianton.

46 And it came to pass that the robbers of Gadianton did spread over all the face of the land; and there were none that were righteous save it were the disciples of Jesus. And gold and silver did they lay up in store in abundance, and did traffic in all manner of traffic.

In Mormon chapter 1, with the reintroduction of the robbers we find something interesting happening.

18 And these Gadianton robbers, who were among the Lamanites, did infest the land, insomuch that the inhabitants thereof began to hide up their treasures in the earth; and they became slippery, because the Lord had cursed the land, that they could not hold them, nor retain them again.

19 And it came to pass that there were sorceries, and witchcrafts, and magics; and the power of the evil one was wrought upon all the face of the land, even unto the fulfilling of all the words of Abinadi, and also Samuel the Lamanite.

Possessions Become Slippery:

What is meant by possessions being slippery and the land being cursed that they could not hold them or retain them? Is this some sort of depression, where the elites seize land and possessions? Did their economy crash and the middle class hollow out? Did their currency get inflated into oblivion? Did property rights become tenuous?

Obviously, it’s hard to say and there’s no real way of knowing as details in the record are sparse.

I would argue that printing money out of nothing could be considered sorcery and it’s incredibly easy in our times. The central bank literally does alchemy of dollars and it makes possessions slippery, it makes it harder to retain possessions, or a certain standard of living. Most people have experienced this in America since 2020 when the government did massive stimulus, creating lots of debt and spending large deficits.

Many the world over experience this type of hyperinflation all the time (Weimar Germany, Zimbabwe, Argentina, Lebanon, Turkey, etc).

Moral Hazard In The Book of Mormon

There is another instance of this happening recorded in Helaman 13 and it is starting out talking about false teachers:

27 But behold, if a man shall come among you and shall say: Do this, and there is no iniquity; do that and ye shall not suffer; yea, he will say: Walk after the pride of your own hearts; yea, walk after the pride of your eyes, and do whatsoever your heart desireth—and if a man shall come among you and say this, ye will receive him, and say that he is a prophet.

The above verse talks about people separating action from consequence, but there are consequences to bad and immoral decisions. 

The following reminds me of student loan debt forgiveness. Take on debt, get a degree (useful or not), and then good luck. Politicians will cancel the debt (or rather, absorb it or nationalize it) to get your vote as described below:

28 Yea, ye will lift him up, and ye will give unto him of your substance; ye will give unto him of your gold, and of your silver, and ye will clothe him with costly apparel; and because he speaketh flattering words unto you, and he saith that all is well, then ye will not find fault with him.

29 O ye wicked and ye perverse generation; ye hardened and ye stiffnecked people, how long will ye suppose that the Lord will suffer you? Yea, how long will ye suffer yourselves to be led by foolish and blind guides? Yea, how long will ye choose darkness rather than light?

30 Yea, behold, the anger of the Lord is already kindled against you; behold, he hath cursed the land because of your iniquity.

31 And behold, the time cometh that he curseth your riches, that they become slippery, that ye cannot hold them; and in the days of your poverty ye cannot retain them.

32 And in the days of your poverty ye shall cry unto the Lord; and in vain shall ye cry, for your desolation is already come upon you, and your destruction is made sure; and then shall ye weep and howl in that day, saith the Lord of Hosts. And then shall ye lament, and say:

33 O that I had repented, and had not killed the prophets, and stoned them, and cast them out. Yea, in that day ye shall say: O that we had remembered the Lord our God in the day that he gave us our riches, and then they would not have become slippery that we should lose them; for behold, our riches are gone from us.

34 Behold, we lay a tool here and on the morrow it is gone; and behold, our swords are taken from us in the day we have sought them for battle.

35 Yea, we have hid up our treasures and they have slipped away from us, because of the curse of the land.

36 O that we had repented in the day that the word of the Lord came unto us; for behold the land is cursed, and all things are become slippery, and we cannot hold them.

37 Behold, we are surrounded by demons, yea, we are encircled about by the angels of him who hath sought to destroy our souls. Behold, our iniquities are great. O Lord, canst thou not turn away thine anger from us? And this shall be your language in those days.

Gadiantion Basic Operations:

Let’s get a little more context about the original Gadianton and the organization named after him. 

In the Book of Mormon, the main objective of the band of robbers was to gain power through murder and organized crime/robbery. It seems much of this was done by infiltrating the government. 

From the above verses, the people seem to have voted in dishonest people or “foolish and blind guides” and give them money because they speak flattering things. This sounds a lot like politicians promising this and that, debt forgiveness, stimulus checks, free healthcare, entitlements, etc. 

Is there much difference between central banking and Gadianton robbers?

Helaman 2:4 For there was one Gadianton, who was exceedingly expert in many words, and also in his craft, to carry on the secret work of murder and of robbery; therefore he became the leader of the band of Kishkumen.

5 Therefore he did flatter them, and also Kishkumen, that if they would place him in the judgment-seat he would grant unto those who belonged to his band that they should be placed in power and authority among the people; therefore Kishkumen sought to destroy Helaman.

6 And it came to pass as he went forth towards the judgment-seat to destroy Helaman, behold one of the servants of Helaman, having been out by night, and having obtained, through disguise, a knowledge of those plans which had been laid by this band to destroy Helaman—

7 And it came to pass that he met Kishkumen, and he gave unto him a sign; therefore Kishkumen made known unto him the object of his desire, desiring that he would conduct him to the judgment-seat that he might murder Helaman.

8 And when the servant of Helaman had known all the heart of Kishkumen, and how that it was his object to murder, and also that it was the object of all those who belonged to his band to murder, and to rob, and to gain power, (and this was their secret plan, and their combination) the servant of Helaman said unto Kishkumen: Let us go forth unto the judgment-seat.

From Helaman 6:

21 But behold, Satan did stir up the hearts of the more part of the Nephites, insomuch that they did unite with those bands of robbers, and did enter into their covenants and their oaths, that they would protect and preserve one another in whatsoever difficult circumstances they should be placed, that they should not suffer for their murders, and their plunderings, and their stealings.

22 And it came to pass that they did have their signs, yea, their secret signs, and their secret words; and this that they might distinguish a brother who had entered into the covenant, that whatsoever wickedness his brother should do he should not be injured by his brother, nor by those who did belong to his band, who had taken this covenant.

23 And thus they might murder, and plunder, and steal, and commit whoredoms and all manner of wickedness, contrary to the laws of their country and also the laws of their God.

24 And whosoever of those who belonged to their band should reveal unto the world of their wickedness and their abominations, should be tried, not according to the laws of their country, but according to the laws of their wickedness, which had been given by Gadianton and Kishkumen.

25 Now behold, it is these secret oaths and covenants which Alma commanded his son should not go forth unto the world, lest they should be a means of bringing down the people unto destruction.

26 Now behold, those secret oaths and covenants did not come forth unto Gadianton from the records which were delivered unto Helaman; but behold, they were put into the heart of Gadianton by that same being who did entice our first parents to partake of the forbidden fruit—

27 Yea, that same being who did plot with Cain, that if he would murder his brother Abel it should not be known unto the world. And he did plot with Cain and his followers from that time forth.

28 And also it is that same being who put it into the hearts of the people to build a tower sufficiently high that they might get to heaven. And it was that same being who led on the people who came from that tower into this land; who spread the works of darkness and abominations over all the face of the land, until he dragged the people down to an bentire destruction, and to an everlasting hell.

29 Yea, it is that same being who put it into the heart of Gadianton to still carry on the work of darkness, and of secret murder; and he has brought it forth from the beginning of man even down to this time.

30 And behold, it is he who is the author of all sin. And behold, he doth carry on his works of darkness and secret murder, and doth hand down their plots, and their oaths, and their covenants, and their plans of awful wickedness, from generation to generation according as he can get hold upon the hearts of the children of men.

The above passages seems to lay out a common pattern that takes place in many governments throughout the world when people are corrupted and dishonest.

Helaman 7: 

4 And seeing the people in a state of such awful wickedness, and those Gadianton robbers filling the judgment-seats—having usurped the power and authority of the land; laying aside the commandments of God, and not in the least aright before him; doing no justice unto the children of men;

5 Condemning the righteous because of their righteousness; letting the guilty and the wicked go unpunished because of their money; and moreover to be held in office at the head of government, to rule and do according to their wills, that they might get gain and glory of the world, and, moreover, that they might the more easily commit adultery, and steal, and kill, and do according to their own wills—

6 Now this great iniquity had come upon the Nephites, in the space of not many years

At other times the Gadianton robbers lived in the wilderness as described in 3 Nephi 4.

Here’s a graphic explaining how the Nephite monetary system worked, and an article that covers the Nephite monetary system more in depth

It’s not far fetched that they could have had inflation or debasement in a system similar to the Romans. There were periods of Roman hyperinflation after conquests, and debasement of currency over time accelerating into the fall of the empire.

What’s interesting about Ezra Taft Benson, once the leader of the Church, is that he served as a cabinet member to President Eisenhower in the Department of Agriculture.

Quote from President Ezra Taft Benson - ​​I Testify in October 1988:

“I testify that America is a choice land. (See 2 Ne. 1:5.) God raised up the founding fathers of the United States of America and established the inspired Constitution. (See D&C 101:77–80.) This was the required prologue for the restoration of the gospel. (See 3 Ne. 21:4.) America will be a blessed land unto the righteous forever and is the base from which God will continue to direct the worldwide latter-day operations of His kingdom. (See 2 Ne. 1:7.)

I testify that wickedness is rapidly expanding in every segment of our society. (See D&C 1:14–16; D&C 84:49–53.) It is more highly organized, more cleverly disguised, and more powerfully promoted than ever before. Secret combinations lusting for power, gain, and glory are flourishing. 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. (See Ether 8:18–25.)”

With all this said, what is to be done?

I believe the answer lies with Bitcoin.