If you’ve been following financial news over the weekend, then you’ll understand how today is a day of uncertainty for the American economy. Banking is largely built on trust. So when that trust disappears, so does the bank.
Last week thru the weekend (03.12.2023), depositors at two large banks lost trust that their deposits were safe, so there was a run on withdrawals. These banks didn’t have enough cash on hand for all the withdrawals because of their investments with depositors’ money. The FDIC covered up to $250k and promised more but the trust in banks today is weak, to say the least.
Will more banks have to close, as Silicon Valley Bank did last week and Signature Bank did yesterday? How will financial markets react? What will the federal government do? And will the current turmoil prove to be fleeting — or turn into a true crisis? Many people are worried and wondering if this will be another “Black Monday.”
As believers in Jesus, we look to Him on days of fear and anxiety. God promises again and again throughout Scripture, “Don’t be afraid and don’t panic, for I, the Lord your God, am with you in all you do” (see Joshua 1:9; Matthew 28:20; 2 Timothy 1:7). Our strength and security is not founded on banking systems, global economies, or government policies. Our trust is in the Lord, His presence with us, and His love for us.
In the context of walking with God by faith during times of economic hardship, the author of Hebrews encouraged believers in Jesus to, “Keep your life free from the love of money. Be satisfied with what you have, for he himself has said, I will never leave you or abandon you.” Hebrews 13:5
During days of financial turmoil, we turn to the LORD of Heaven and trust Him here on Earth.
When banking systems shake and financial structures crumble, we look to the LORD Jesus for help and for our security. He alone watches over our lives.
Follow me… as I follow Jesus Christ.