Trillions have been stolen, with trillions more still at risk. Public confidence is the critical enabler that keeps the crime in motion. If that fails, the charade comes to an end. Staying informed is imperative.

Can you imagine a world that has rejected the dollar? The rest of the world can. What if the U.S. dollar lost its monopoly status in world trade?

It seems as if our current world monetary system is on the verge of collapse. What is the next step for money? We have written before on the concept of money and its history. The last time this topic was addressed in Personal UPDATE was when the U.S. Stimulus Package was passed by Congress when they no longer feared the concept of trillions of dollars in the yearly deficit.

In part one of this series, we covered the difference between fiat and commodity money. As countries moved toward a fiat currency, the money supply increased and started to lose value. Part two of the series explored the rise of the central banks.

Last month we covered the two basic types of money: commodity money and fiat money. Commodity money, such as gold and silver, are based on something tangible and has intrinsic value. Fiat money, such as paper money, is based on whatever a government says it is worth.

Everyone reading this article is being robbed. We all use paper money and every day, governments are lowering its value. That value is being stolen from us. To understand how this is happening, we need to get to the basics of money. What is it?

Even though the U.S. federal government’s tax revenue has more than tripled since 1965, the budget deficit will top $1.6 trillion in 2010. This spending hike would push spending to $36,000 per household by 2020. Obviously, something has to be done to reverse this trend.

On June 26, the U.S. House of Representatives passed the Waxman-Markey Global Warming Bill by a narrow margin of 219 to 212. Rep. John Dingell (D-Mich.) has called the bill’s Cap and Trade system on CO2 “a great big” tax.

The financial debacle we’ve all been plunged into was brought about by two bubbles: the real estate bubble and the associated credit bubble. A choreography of fiscal lunacy is well summarized in a New York Times article by Michael Lewis and David Einhorn:

2008 is an election year, and it also triggers a very significant change in our demographics: the first of 77 million retiring Baby Boomers becomes eligible for Social Security benefits, which will create one of the greatest economic challenges of the 21st century.

Last month we reviewed the increasingly difficult predicament we face in attempting to position ourselves-and our families-in this volatile world. In addition to the terrorist threats and other geopolitical tensions, the mismanagement of our own national financial scene appears increasingly problematic.

Events over the past few years have caused many informed observers to be concerned over the increased precariousness of our strategic horizon. In addition to natural disasters-such as Hurricane Katrina-and the continuing terrorist threats promising a major sequel to “9/11,” and the probability of rogue nuclear attacks of various kinds, anyone who is relying on smooth waters over the next 12-18 months is simply among the ranks of the under-informed.

Incoming! "Kahwump!" Few Americans have connected the collapse of Enron with the collapse of the World Trade Center and with the collapse of Argentina's currency. However, they are all opening salvos in the first war of the 21st century, which may well be recorded as World War III when the dust settles and the dead are tallied.

Without a doubt, there is a great need in Christianity to get back to the basics of God's Word. This is true whether we're talking about salvation, sanctification, service, or finances.