What is money worth? Governments print it, we spend, save, and invest it, but how do we know the real value of the money we use?
Edmund C. Moy knows about money, he was the director of the US Mint until 2011. Today he joins guest host Bill Arnold to talk about faith, money, gold, national debt, government policy and what it means that our money is stamped with “In God We Trust.”
Ed calls his time at the White House under President George W. Bush ”one of the great honors of my life.” Ed shares his realization that being in charge of an organization established since 1792 is a sobering and valuable experience. He encourages Christians everywhere to consider public service and share the gospel in their work!
What should we know about investment and the current financial climate? Ed suggests diversifying – invest in several different places to minimize the risk.
Ed tackles the tough questions about money and government:
- The value of a penny – Ed recommends turning in our pennies to help reduce the deficit
- The importance of praying for Christians in leadership and government – “Once you become a Christian, you become a target of the enemy.” Ed calls it a blessing to be able to serve in leadership. He took lessons from Joseph and the prophet Daniel and learned to build a strong support system of fellow believers to hold him accountable.
- What it’s like to be a Christian in government
- The significance of handling money that states “In God We Trust”
- Should we invest in gold? Ed is an advocate of a “balanced portfolio” – spread your investments across gold, cash, bonds, and tangible assets – your car, your home, etc. The price of gold has increased in recent years and is currently at roughly $1300 per ounce. If you invest, Ed recommends buying gold coins rather than gold bars and keeping your gold in a safety deposit box and part of it in your home.
Ed sees a challenge ahead – it’s an “accountability issue before the Lord” to have a balanced budget and no debt as a nation. Future generations will be “handcuffed” if we don’t take action to reverse current financial and spiritual practices in this country. We can turn the flow, but it will take sacrifice and effort on the part of ordinary citizens.
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