As the world economy teeters with massive global unemployment and systems of government crumble, precious metals soar in price alongside ballooning cryptocurrencies. One rabbi suggests the solution is to be found in a Temple-based commandment that stabilized the economy and the kingdom while bringing people to serve God.
Temple Coin: Money That is Actually Worth Something
Rabbi Hillel Weiss, the former spokesman for the Sanhedrin, is planning on releasing a new coin dedicated to the establishment of the Davidic Dynasty and the rebuilding of the Jewish Temple in Jerusalem. The coin is intended to be more than a symbolic gesture.
“Many basic systems that are essential to society are disintegrating,” Rabbi Weiss told Israel365 News. “Many governments, including the US and Israel, are having a crisis in government. At the same time, we are seeing basic issues in the very concept of money.”
Rabbi Weiss emphasized that the full economic effects of the global pandemic have yet to be seen.
“The global markets for precious metals are off the charts,” Rabbi Weiss said. “Throughout history, governments issued coins to establish their sovereignty and to mark the passage of an era. It is a well-known axiom in finance that when faith in the government weakens, the value of the currency goes down and the value of precious metals rises. What we are seeing is that the trust in governments is failing and this necessarily has a negative impact on the value of the currency.”
Money and Government: Two Sides of the Same Coin “Under God”
Rabbi Weiss emphasized that the solution to both the failing economy and the lack of faith in governments was the same: the reestablishment of the Davidic Dynasty based in the Temple in Jerusalem.
“Some people believe that God is above economics and has no dealings with money,” Rabbi Weiss said. “But this is not true.”
He cited a verse from Haggai to prove his point:
Silver is Mine and gold is Mine—says the lord of Hosts. Haggai 2:8
The connection between the Temple and currency was manifested through the Biblical mandate of the half-shekel every male over the age of 20 contributed to the Temple. Regardless of personal wealth, every Jewish man was required each year to give a half-shekel weight of pure silver in the form of a coin to the Temple.
Everyone who is numbered, from twenty years old and over, shall give the contribution to the Lord. The rich shall not pay more and the poor shall not pay less than the half shekel, when you give the contribution to the Lord to make atonement for yourselves.” Exodus 30:15
“In Biblical terms, currency must be based on actual value,” Rabbi Weiss said. “If the currency does not have any connection to anything of value, then the entire world turns into a virtual concept, like the stock market but even worse, more like gambling. Every time you use money, its value will be fluid and random.”
For this reason, coins were made of precious metals and even paper currency was, until not so long ago, based on actual gold that was in possession of the government.”
The gold standard was widely used in the 19th and early part of the 20th century. Most nations abandoned the gold standard as the basis of their monetary systems at some point in the 20th century, although many still hold substantial gold reserves.
“We need to re-establish a universal basis for currency,” Rabbi Weiss suggested. “In ancient Israel, this was done through the Temple and the silver that it received. This should have been carried out by the United Nations but that organization failed in its Biblical mandate by rejecting the Bible.”
Rabbi Weiss suggested that an organization of 70 nations based in Jerusalem and associated with the Davidic Dynasty would reestablish faith in governments and stabilize the economy.
Cryptocurrency is Gambling
Rabbi Weiss referred to the massive inflation of Bitcoin. At its inception in 2009, the first Bitcoin transaction involved the purchase of two pizzas for 10,000 Bitcoins. The current rate has a single Bitcoin worth almost $50,000. Rabbi Weiss also referred to the recent crisis concerning the “short squeeze” of Gamestop stocks.
“A group of people was able to manipulate the price of the stock,” Rabbi Weiss said. “If a country’s economy is not based in any real value, another government with substantial economic clout, for example, China could destroy another country’s economy if it is not based on anything of real-world value. An organization of 70 nations, based in Jerusalem, based in the half-shekel, connected to the Davidic Dynasty, would absolutely prevent this.”
Following this principle, the Sanhedrin first began minting coins in 2018 with the initial effort being a coin bearing the images of President Trump and Persian King Cyrus. The flip side featured a stylized image of the Third Temple. The response exceeded all their expectations and thousands of coins were sold around the world. They followed the first coin up the next year by minting a gold coin honoring King David.
In Temple times, the value of silver was emphasized every year when the nation began to give the half-shekel on the fifteenth day of the Hebrew month Adar at collection tables around the country. It falls on February 27 this year. On the 25th of the month, tables would be set up in Jerusalem for collecting the half-shekel.
“When the Jews were set free of slavery in Egypt, God ensured that freedom by establishing the mitzvah (Torah commandment) of the silver half-shekel,” Rabbi Weiss said. “Reestablishing a Temple-based silver standard can ensure that the nations of the world remain free.”
The half-shekels funded the costs of the Temple service. It was also required in order for public offerings to be considered communal since every Jewish household had contributed towards its purchase.
Rabbi Moshe Ben Maimon, a renowned Torah scholar from the Middle Ages, who is more famously known as the “Rambam,” said that the weight of the coin was equal to 160 grains of barley, which in modern measurements would be approximately eight grams of silver. The value of the coin is dependent upon whatever the market’s value is on silver.
Half-Shekel and Coronavirus
The return to a Biblical silver standard may bear an additional benefit. It was precisely the silver half-shekel that prevented a plague from engulfing Israel.
When you take a census of B’nei Yisrael according to their enrollment, each shall pay Hashem a ransom for himself on being enrolled, that no plague may come upon them through their being enrolled. Exodus 30:12
King David forgot this prohibition and counted the Jews directly, resulting in a plague that killed some 70,000 Jews.
And David built there a mizbayach to Hashem and sacrificed burnt offerings and offerings of well-being. Hashem responded to the plea for the land, and the plague against Yisrael was checked. II Samuel 24:25