Gold-backed currency? The true purpose of gold

Gold … more than currency backing or a store of value

Anyone who has studied economics will know that one of the hotly debated topics is whether the move from a gold-backed currency standard to a fiat-based currency system is the right thing. The concept of being able to “print money” couldn’t occur for instance if money had to be secured agains a precious metal like gold.

The Bible mentions gold 426 times. Many of it is in the context of a medium of value and exchange which you would expect as was true in the civilisation of that age.

There are however some noteworthy and interesting concepts to explore.

The first time gold was ever mentioned in the Old Testament was in Genesis 2:11.

10 Now a river flowed out of Eden to water the garden; and from there it divided and became four rivers. 11 The name of the first is Pishon; it flows around the whole land of Havilah, where there is gold. 12 The gold of that land is good; the bdellium and the onyx stone are there.

The first time gold is then mentioned in the New Testament is Matthew 2:11 (notice the same numbering - by coincidence or Divine inspiration, you decide!)

11 After coming into the house they (the wise men) saw the Child with Mary His mother; and they fell to the ground and worshiped Him. Then, opening their treasures, they presented to Him gifts of gold, frankincense, and myrrh.

The purpose of gold introduced here is to worship God! Gold will never compete with God, rather it is used to serve and honour Him.

I love the depiction of the use of gold in Revelation:

Revelation 21:21 And the twelve gates were twelve pearls; each one of the gates was a single pearl. And the street of the city was pure gold, like transparent glass.

Revelation 22:1 Then he showed me a river of the water of life, clear as crystal, coming from the throne of God and of the Lamb, 2 in the middle of its street. On either side of the river was the tree of life…

This is such a powerful image - the river of life flowing in the middle of the street of gold (which is also transparent and shows the river flowing beneath it). The river of life, flowing from the Throne of God, is central to any path or street we walk on. Gold, as a street, is an enabler for us to get from one place to another.

I’ve never seen transparent gold - but that image says to me forget about the gold and see the river of life! Keep our focus on Him, and make gold an enabler for His purpose!