QuickBooks Desktop 2023. Adjusting entry and reversing entry journal reports. Let's do it within two weeks. QuickBooks Desktop 2023. Support Accounting Instruction by clicking the link below, giving you a free month membership to all of the content on our website broken out by category further broken out by course. Each course then organized in a logical, reasonable fashion, making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files, and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. Here we are in QuickBooks Desktop get great guitars practice file going through the setup process we do every time maximize the home page to the gray area in the view drop down we got the hide icon bar open windows list checked off open windows open on the left reports drop down company and financial P and L profit and loss I'm going to bring the range from January through March remembering that the end of February was our cut off but we had some reversing entries in March. So I'm going to take this from 010123 to 033123 and then let's change it from the totals to the months month by month comparison and then I'm going to go to the customize and fonts and numbers changing the font bringing it on up to 14 okay yes and okay let's do the same for the balance sheet and the reports drop down company and financial the big balance sheet standard customize it so we can change in the range in 010123 to 033123 let's do first three months drop down let's change it to the months month by month breakouts what I'd like to see the side by side the fonts the numbers changing it to equal the 14 which we had on the P to the L and there we have it so that's the setup process that we do every time we now have implemented all the adjusting entries that we're going to do at this point in time so now you can kind of compare your numbers looking at the balance sheet and the income statement and then we'll also print out a trial balance and then we'll export these reports now obviously if you're on the bookkeeping side of things if you were to be doing bookkeeping or in the accounting department then you would you would wait till after you do the bank reconciliation and after you do adjusting entries to provide the financial statements then to clients for example however note that if you're doing accounting or bookkeeping for a smaller company then you might not have a kind of as much of a formal adjusting entries at the end of the month but rather might be waiting till like the end of the year possibly to do the adjusting entries necessary at least for taxes to get the tax preparation correct and the reporting correct at that time so it kind of depends on how often you know how you're going to set up your routine for doing the adjusting process and who's going to be involved within it so in any case we're going to check our numbers here this is what we have thus far these are the the February numbers and then the March numbers after we have reversed and then we're going to go to the profit and loss same thing here we've got the cutoff date is February and then we we had some reversing entries in March which basically reversed out most of them have fully reversed out by the end of March this one hasn't because we still haven't entered the transaction for interest in the following month but that is our profit and loss now let's open our trial balance reports drop down accounting and taxes the trustee trial balance opening it up and take that from 010123 to let's go to 022823 that's the cutoff date and then customize this report we'll go to the fonts and numbers changing the font up to let's do this one at well let's keep it at 14 to be the same so i'm going to export these to excel eventually so there's there we have these numbers so you can check as of the cutoff date on the trial balance which is probably the easiest way to check the numbers if anything is off here then what we're going to do next is look at what we did different in this section or this course which was the adjusting entries if you have the beginning balances correct and then these adjusting entries were entered then the Indian balance has to be basically correct if your beginning balances are wrong then you can go back and kind of check out from the prior section so in other words you might want to if you have an issue uh run you know run the report possibly as of the end of uh 227 the day before the end of the year because i don't believe we had any actual transactions on the 28th we may have that which you would have to account for and then and then you can kind of compare this this was our beginning balances then before we entered the adjusting entries and you can kind of check out the beginning balances and then if your beginning balances are correct and then all we did in this section or course is do the adjusting entries then your ending balances would have to be correct so this is where we stand as of that point now i'm going to look at the transactions that we took place notice i'm going to go to the reports drop down we're going to go to the accounting and taxes in prior sections or courses we have taken a look at the transaction list by date now just to note we could still kind of look at that i could look at my transaction list by date and and bring this as of all the transactions we put in place were 228 0228 23 so 0228 23 and so actually we did have a whole lot of transactions that happened on that day February 28th so if you were trying to look at the beginning balances you would have to account for a whole lot of transactions that happened on that date but in any case so we could look at this and if i was to customize it i want to look at just the journals go to the customized reports and then we're going to say let's try to filter it and just look at the transactions type and then i want to change this to just the journal entries and then fonts and numbers let's bring the font up to 11 okay yes and okay so there we have the journal entries you know that's one way that that you can look at it but the adjusting entries because there could be more than two accounts affected and because they're not using some other form i think are quite useful oftentimes to actually see in the form of debits and credits so i'm going to open up then the other report reports drop down and then accounting and taxes the journal report now because it's a journal report you might think that you just have journal entries in it but it actually is going to show everything let's do it again 0228 23 just as of the day of the cutoff 0228 23 because all of our adjusting entries were as of that day and let's customize it first just for the size so we can see what it is in total in a bit more detail this time i'll bring it to well can i do 14 to make everything the same let's try it's going to be quite expanded for this particular type of report but we'll give it a shot you know give it a shot that's what i say give it a shot man okay that's not bad so then notice that it's not just the type of transactions that are journal entries it's using every transaction and showing the journal entry related to it that is a really good report if you're trying to understand debits and credits and see the impact so it's the same transactions as the transaction report we just did we just looked at but now it gives you it in terms of debits and credits and if there's more than two accounts impacted it shows you all the detail as this as as we can see with this paycheck one which is quite complex so that's a nice report but we once again want to just look at the journals so i'm going to say the journal entries let's customize it up top let's go to the header no let's go to the filters and i'm going to filter it by type and just look at the journal transactions and then okay boom so there are our adjusting entries now we know they are adjusting entries by one they were entered as of February 28th 2023 and two they're journal type of transactions we didn't enter invoices for the adjusting entries and three we put in the memo that they're adjusting entries now because there were no other actual journal type forms as of 228 which is what got me kind of confused thinking we didn't enter anything as of 228 but what we didn't enter any other journal entries as of 228 therefore we don't have any other things i can filter down and just see our adjusting entries if we did have another journal entry as of the end of the year it just wouldn't have the memo and i can i can then account for it possibly one way you could do that is to is to export this to excel and then delete anything that you don't want in excel because this is a report that you might want to be using to communicate to your to your client or to the accounting department if you're doing the adjusting process this is what we did and this is the report showing exactly you know what we did okay so those are the reports and uh like i say if if if you're you enter these just as they are here as of 228 and your beginning balances were correct then the ending balances should be correct as of 228 and then we did the adjusting entries the adjusting entries bringing this up a day so these are the ones that i'm sorry these are the reversing entries to reverse some of the adjusting entries as of the first day of the following period and so you could check these out and then double check your numbers as of the end of of uh march because these are only the trans transactions by the way that were the reversal transactions we did enter a couple other transactions in march in our practice problem so but these are the the reversing entries okay let's print these out and uh and print them out so i'm going to go back up to the balance sheet we're going to print them as we have in other sections as a pdf try to think about how we can sort them and organize them we'll export them to excel as well and use excel as well as a pdf printer to put them all on one page now note that we're we now that we have two months i'm going to add the third month here even though it's not been completed so this isn't like a perfect thing that we would give to a client per se but but i want to print it in a similar way as we would if we were given it to a client so remember if you're given something to a client you got to think how often you're going to do that the end of the month the end of the quarter the end of the year what reports are you going to include are you going to have a summary balance sheet and then a comparative balance sheet for example multiple comparative balance sheets comparing month by month comparing this month of the prior month there's a whole lot of different detailed reports you can organize those by memorizing them and then have some system that you can give the reports in a very nice way i'm going to just going to use this report because it gives us both months and and the third month here to see to see our totals for our practice problem so let's customize it i'm going to go to the header and footer let's get rid of the date time report basis as has been our custom put our name in the footer you can put your name i'll put my name and then i'll say we want parentheses around the the negatives and i'll remove do i want the pennies let's keep the pennies for this one so you can check your numbers with them so i'm going to say okay boom on that let's go ahead and say that i want to print these to save as a pdf and then i'm going to go to the drop down this is going to be on the desktop i put a folder in here quickbooks it's going to go into the quickbooks ggg reports let's make another one new let's make these the adjusted reports adjusted reports after the adjusting entries is what i'm trying to indicate there and then i'm just going to say that this is going to be balance sheet boom and then we'll save it and then do the income statement otherwise known as the p to the l let's customize it let's go to the headers and footers let's call it an income statement just because we can we probably should get rid of the subtitle date time report basis name in the footer and then fonts to the numbers parentheses and i'll keep i'll make it red but i'll keep the pennies boom and then printing to the p to the e to the d to the f there's no e there's no e in it this is the income statement okay and then we'll go to the trial balance and go print report save it as a pdf actually i should do my standardized customize header footer date time report basis footer footer and then fonts and numbers parentheses reddited okay now do it now you can do it okay now i'll do it here save it and this is going to be the trial balance and then we'll do our journal reports i'm not going to do the transaction list by date but we're going to use the journal reports instead let's first do the ones as of the cutoff date february 28 customizing font let's go to here get rid of the date time name in the footer fonts negative numbers with parentheses and red and boom and then i'll say print it to save as a pdf so these are the adjusting entries and then i'll take one day up one day up three one those are the reversing entries and we'll print that out report and save as and this will be the reversing entries so there we have those i'm going to say there it is hopefully i'll be able to provide you with these items there's the reports adjusting reports i'm going to put them in another folder i'm going to make them large put them in another folder here new folder adj reports and then if i wanted to give this to someone i can put them all in that folder i can put them on a cloud drive like one drive or something like that or i can zip them and give them to someone in an email in a zipped format so your zipped format might not look like this but it'll be zipped so i can attach it now let's export them to excel and then make one pdf with all the reports on them like we've done in the past so i'm going to go balance sheet let's export it create a new worksheet i'll do this faster because we've seen this before in prior sections i'm going to say it's going to go to a new workbook you're going to need excel in order for it to export to excel and then i'll make this large so it opened up excel there's our tab does it fit on one page wide that's all i care about right now no it doesn't so i'm going to i can get rid of the skinnies like that skinny holding down control and that skinny don't need the skinnies i'm going to delete the skinnies it still doesn't do it i'm going to move the a cut paste i'm going to move these two cut control x paste and then i'm going to get rid of column a altogether you're gone a but then a new a takes its place that's what happens when you try to get rid of the a they're like terrorists it's like another one just takes their place you're like what the what is going on here i just got rid of one of these things so there it is i don't know what i'm talking about anyways was is going to go save let's save this thing save and as and we'll put it on the desktop and then we'll put this in to the data file what is quickbooks data no the ggg reports man get with it this is going to be the adj reports boom and hold on hold on it opened that i can't name it the same thing or it tries to open it up ports let's put a period after it this is what the file name don't open up the folder excel what are you doing close it i gotta close it to open the next report and then profit and loss will do the same thing here export create a new worksheet but this time it's going to go to an existing workbook i don't think it's going to the right one though so i'm going to fix it ggg reports adjusting entries that's the one adju what's the i guess that makes sense export the specific file could not be found what do it it's right there it's right okay hold on a second okay i fixed it now apparently the the quickbooks doesn't like it when you name a file with a dot or period so i had to put a one there and then it read it so good to know good to know so i'm going to then drag this to the right this is going to be the ink double clicking on an income statement and go to the second tab does it fit on one page no no of course not so i'm going to then let's get rid of the skinnies holding down control skinnies i don't need those delete and not there yet so let's get rid of the column a control x delete column a delete and then i'm just going to force it to work by making that skinny all right closing that back out let's then go to the next one ad trial balance that's the one i need let's go ahead and export that excel create a new one and then existing workbook are you going to the right one no it's not going you should know where to go by now you should know where to go it's going to go to that one and then export and then there it is pulling that to the right double clicking on the name tb trustee trial balance that's not tuberculosis it's trial balance that's what it stands for and then i'm going to get rid of the column i don't need this total over here get rid of column a delete none of these fit on a page this one has this long name because of the sub accounts so you could go through here and delete the sub accounts because you don't really need those and you know those are actually kind of confusing way to do it but i'm just going to skin arise them like that till they fit on a page like so like so delete it and then do it again now i'm on the journal reports i need two of these first for 228 228 228 because that's the cutoff date 228 is the cutoff date whoo that's a rhymer we're going to export this one to the does it know where it's going yet okay then now it's going to the right place export i'm not even going to check next time i'm going to live dangerous flying by the seat of the pants drag this one to the right this one's totally not going to fit on a page check it out no we're going to have to reorientate that one for sure we're going to go to the orientation landscape and then it's that's not enough i'm going to get rid of the total i don't need that total at all column a delete it but then the terrorists put a new leader in there so it's still there but it's okay that one's not as crazy so i'm holding down control selecting all the skinnies and then we'll right click and delete all that stuff and then then maybe i don't need the journal stuff really because i know it's a journal i'm just going to make that skinny skinny skinny and then i could i could uh maybe i'm going to take this whole thing and say that i'm going to wrap that wrap it like that and then i can make that whole thing smaller and then it should wrap the text but then i don't like it's like it's on the bottom of the cell so i usually fix that by selecting the whole thing here and say i want it to be at the top of the cell that's how i like to see it that's how i like to see it okay it's still not on one page though almost there oh come on are you kidding me i don't need this stuff oh this is ridiculous you're making me look stupid okay i'm just going to wrap this one too i'm going to wrap this one we'll wrap that now i can be as small as i want there it is okay so these are the adj entry and then one more round one more round i didn't hear no bell dang it i only stop when bells are ringing i'm not sure if they're real or not let's export it to excel export it to excel and i'm not even going to check it this time i'm just going to export it and assume it's going it doesn't know where it's going okay whatever i have to check it i thought you i thought you'd be able to do it yourself excel but no maybe it's because it's open right here i gotta close it first okay okay i fixed it i fixed it come on okay it crashed but i'm back now so i'm gonna say reports drop down let's go ahead and create a new worksheet we'll try it again try it again and then it's going to the right place boom so there it is and then export there it should go last one ultra they're gonna pull this to the right double click these are the reversing entries entries and let's this is not going to fit on a page of course let's make it land escape landscape and then i'll get rid of the total column don't need that delete get rid of the skinnies a control holding down f h j l n p right click and delete that stuff and then i'm going to take all of this i'm i'm going to say wrap the text on that stuff wrap it wrapping and then i'm going to skinnerize all of them maybe at the same time this time see if i could do this faster did it wrap where's the wrapping where's the wrapping wrap the wrap there we go then i'm going to select the whole thing i'm going to put it on i want it all at the top of the cell and then i think that's good is it now i messed up hold on hold on it's got to be a little bit a little bit skinnerized just a little bit a little bit more just how about this one i can make this one smaller boom all right so now we got it we're going to go to the print file and we're going to put this all on one page with a cute pdf printer which is free if you don't have one i think you can get it for free i'm not advertising for them we're not affiliated at all hitting the drop down i want to look at the entire work book so we've got the balance sheet we got the income statement we got the tb we got the journal report for the adjusting entries and then the reversing entries looks good movie bn how you being i'm movie being hippies are just being man but i'm movie bn that's way better so i'm going to the home to here edit where's this quick books we're going to put this on the ggg file and this is going to be that okay let's save it so now we can provide it to somebody and hopefully i'll be providing uh you guys with this so you can check your numbers with it as well but we've got the reports here in the adjusting area we can give them the reports one at a time i'm going to make it large we can give them an excel worksheet we can attach them to to uh a one drive or something or we can have this one file now with all of the reports in them which is super fancy and like in a good way not too many not too frilly you know you get too fancy with too much stuff going on at one time this is but this is good no notice the landscape stuff shows up vertically here so you can still read it properly and that is that


Amen, so Genesis chapter 11 we're going to focus on the beginning part of course we see the introduction of Abram in Genesis chapter 11 but we're going to focus on the beginning of the chapter, so this morning I want to give you some thoughts on science this morning just a couple of thoughts, I want to give you some, some just some things to think about when you think about when you see all these different advancements that we read about in the news you know technological advancements, medical advancements, whatever it may be I want to give you a couple biblical thoughts this morning on how we are to view these things and how God actually views a lot of these things that we're seeing today just give you some biblical perspective on things that you're going to see going forward and that you've probably already seen throughout most of your life so look down there at Genesis chapter 11 and let me just give you some thoughts on modern day science and technology this morning look at Genesis chapter 11 and verse number one and let's just look at this story of what happens here of this society that was happening or that was being formed at this time and what they were doing look at verse number one of Genesis chapter 11 the Bible says and the whole earth was of one language and of one speech so you wonder where did all these different languages come from, where did all these different nations come from this is the story in the Bible that explains all of that and it came out of something that wasn't a good thing it was something that God did to fix a problem look at verse number two and it came to pass as they journeyed from the east that they found a plane in the land of Shinar and they dwelt there and they said to one another go to let us make brick and burn them thoroughly and they had brick for stone and slime they had for mortar so what is happening here in this story basically what you have happening here is what you'll see happening you know even in modern times you have in verse number three you have a building material advancement here you have a technological discovery here the one thing this actually this one particular thing actually it holds up a lot of progress even today building materials the availability of certain materials these people found out how to make bricks or how to make cement and mortar and these types of things to build a tower we'll see that they start building it with and look we have the same exact problem today building things ok we have look we have models we have simulations we have calculations where we could make all of these these machines that generate our power we could make them way more efficient than they are today why don't we do it because we simply don't have the materials that can stand up to the pressures and the temperatures that this machine would call for this machine that would be more efficient would produce ok we could make your car way more efficient than it is today and you could get much better gas mileage than you do today but the problem is is a material problem so these machines these next generation machines they remain theoretical they remain not be able to build because we haven't built the materials yet we haven't found a way to make materials metals that are strong enough to contain you know the pressures and temperatures that these machines would produce it's very simple so but these folks in Genesis chapter eleven they had a breakthrough here they had a breakthrough they found out how to make bricks they found out how to make cement and mortar and look at verse number four this is what they did with it they had a breakthrough where they could now advance their civilization and this is what they did with it and they said go to let us build a city in a tower well that doesn't sound too bad let's go build a city with this new technology these new materials and then look what the Bible says whose top may reach unto heaven and let us make a name lest we be scattered abroad upon the face of the whole earth so there we see therein lies the problem in verse number four with these people and the Lord came down to see the city in the tower which the children of men build it and the Lord said behold the people is one and they all have one language and this they begin to do and now nothing will be restrained from them which they have imagined to do and then in verse number seven the Bible says go to let us go down and therefore confound their language that they may not understand one another's speech so here's the trinity in the Bible first of all this is very similar to Genesis chapter one in verse 26 where you know God says let us make man in our own image he's talking about the Father the Son and the Holy Spirit he's speaking in plural about God about the trinity that's just a side note look at verse number eight so the Lord scattered them abroad from thence upon the face of all the earth and they left off to build the city therefore is the name of it called Babel because the Lord did there confound the language of all the earth and from thence did the Lord scattered them abroad upon the face of the earth so God you know all of a sudden makes them all speak different languages this is where all of our different languages came in the world the Bible's explaining it to us here and that puts an end to their technological advancement right there I mean imagine you know if you had a bunch of people working together on a project and all of a sudden every single one of them spoke a different language and they couldn't understand what they were saying you know the project would end very quickly and that's what happened here so as we look at this story what was the problem you know the material advancement you know the engineering advancement was not the problem the problem is they were trying to reach heaven they were trying to reach God they got prideful they got lifted up and you know God destroyed their society for it okay so I mean you know there's some thoughts here look at verse number eleven as we go into the genealogies you know just a side thought as well you know on verse number eleven the Bible says and Shen lived after he got Arfixad five hundred years and he got sons and daughters look men were also living so long that you know they were figuring things out I mean I tell you what if you give me eight hundred years I'm gonna be an expert on a lot of stuff okay if you give me eight hundred years and you give me sons you know if I have sons and daughters when I'm two hundred years old three hundred years old and I can just relay all that information from generation to generation and then I live another six hundred years boy I'm gonna figure some things out in this world okay God also started limiting life spans of men you know that's another and I believe that this is one of the reasons why he's managing the situation on earth after the flood he limits you know the you know he starts to limit man's age and around the exodus period you know you got men living seventy eighty years you know Moses and Joshua were some of the you know the last men that lived to be 120 years old so we see that you know God starts limiting men's age at that point as well so look there was now but here's what's interesting so you say what is the point of all this how does this you know apply to us what's interesting is this okay in the last two hundred years or so in our society in our country and really in our world especially in our country especially the last hundred years we see a steady exponential ramp of learning and information that's available okay it seems it seems that God is allowing it again turn to Daniel chapter 12 so I want to explore this morning you know what are the limits of these things what does God think about these things and why is God limiting or why is God allowing this steady information this exponential ramp of knowledge that's happening today well look at Daniel chapter 12 and I believe the Bible tells us right here look at Daniel chapter 12 and verse number four so we had in Genesis chapter 11 once again we had man advancing technologically they got prideful they tried to reach heaven they tried to reach God and God shut them down for it but today in the last you know in the last couple of hundred years we've had a lot of advancements as compared to you know the rest of the history of mankind look at Daniel chapter 12 verse number four the Bible tells us that this will happen look what the Bible says you know Daniel shut up the words and seal the book even to the time of the end and the Bible says many shall run to and fro and knowledge shall be increased well look the world has never seen anything like the last hundred years the world has never seen you know advancements in the industrial age advancements in technology machines and just knowledge in general the availability of knowledge in our world today has never been as it is right now there's never been more knowledge available freely to the common man in our world than there is right now that's quite a statement that's quite a statement to say that all this knowledge is available to us so while the world has never seen anything like this you know what does it mean what does God think about it why is it happening well the Bible says in Daniel chapter 12 verse number four that it's a sign of the end times no look I'm not going to start predicting the end of the world here don't get nervous on me but I'm saying we ought to notice these things we've got an enormous amount of information available to us look I'm working on an engine at home and you know I don't know the things that I'm working on but it's incredibly easy to find out all the different things I'm working on a 1983 short walk Chevy is what I'm working on and I don't know my way in and out of this motor but it's very easy to learn by just finding some video on the internet of somebody that's already done it I mean look it's quite a machine you say it's built in 1983 look it's quite a machine it's quite a piece of technology it's like a finely tuned clock everything works perfectly in tune but it's fairly easy to learn because all the knowledge is available it's just it's right there there's videos on everything from the fuel system to the timing to the whole thing it's all available anybody can learn it anybody can learn it so here we have all of this information available now turn it turn to Romans chapter one I mean this is just one small example all this information on all these different machines and all this different technology it's all available to anybody that can hear the words coming out of my mouth but here's the irony of what's happening today well all that knowledge is available all that knowledge is available look it is a sign you actually don't have to turn to Romans chapter one but basically it's a sign that it's not a really a blessing as society our society as a collective we have never been dumber than we are today look at that all of this knowledge that's so freely available it's never been so available but we as a society have never been dumber with all the technology just think about this for a minute all the technology all the smart phones all the computers all the gadgets all the engines all the drones it would be difficult to find a teenager today that knew his way around a motor it would be difficult to find that I mean even an adult it would be hard to find an adult that knew his way around a motor that was 40 years old it would be tough that the single guys just went on a hike yesterday I wanted to go so bad but my wife said you're not single and you're too old I think I could have made it but here's the thing it would be difficult to find someone today that could use a compass it would be difficult to find somebody today that could give a map to and give a compass to and say find your way out of the woods here's the map here's the compass you would be hard pressed to find somebody that could do that even in the areas of literacy of reading of writing of education in general look it doesn't take long reading a classic you know like just take a classic author like Charles Dickens a secular author you read a book Charles Dickens and you can understand why most people today would have a hard time understanding that kind of writing I mean they wouldn't be able to understand the language they wouldn't be able to have the comprehension of all the different I mean he was so detailed in the way he described things it was like you're there the way he wrote things but you'd be hard pressed to find somebody today that could understand that type of that type of writing even the writings you know I think about even the writings of like the founders of the country I think about you know the federalist papers I think about some of the things that these men wrote and I think today and when I read those things I'm like you know what people today not only would they not have the knowledge the wisdom to understand the language that's being written down but they wouldn't even be able to comprehend the thoughts that these men are talking about so the ideas that they were setting forth are hard to comprehend for most people today even adults today so look as a whole what I'm trying to get you to understand is there's a real dichotomy here there's a real problem here where there's the most knowledge available to us there's all these great technologies and all these things but as a society we're dumb you know we're not that advanced as a society we're not as bright as men used to be is what I'm trying to get you to understand so for some reason for some reason God is allowing these advancements right now as we advance as knowledge increases and as we depart from God this is what the Bible says in Romans 1 it says as we depart from God professing themselves to be wise they became fools that's what's happening here because as Genesis chapter 11 as the people in Babel building the tower trying to reach God they profess themselves to be wise they didn't say you know our wisdom comes from God our wisdom comes from God everything that we have comes from God they try to become their own gods and that's what's happening in our country yes knowledge is increasing Daniel chapter 12 verse number 4 tells us that knowledge will increase in the time of the end but we are becoming fools because we're professing ourselves to be wise so that's the first thing look that is that is science of the last hundred years folks science of the last hundred years is professing ourselves to be wise and you can see that we're becoming fools because what science of the last hundred years is it's we're trying to we're proclaiming ourselves as God that's science of the last hundred years you know or at least that we don't need God as we push scientific theories like you know the big bang theory and evolution and all these different things we're getting rid of God we don't need him we can reach heaven ourselves is what we're saying and look as this happens he's you know we are becoming he is causing us to become fools that's why you see this happen look it's poetic justice it's poetic justice when you think about it that way but look these advancements will have their limits and God will limit these advancements just like he did in Genesis chapter 11 and that's really you know what I want to get at this morning what those limits are are defined in the Bible now this is what really let me give you the first limit that God will always keep and enforce and the first limit is this and this is kind of the inspiration for this sermon is when I read this article that I read this last week and I've read many articles like this but I'm just like you know what this deserves a sermon this deserves some thoughts and hopefully I'm not just confusing you all because a lot of these are just things that I think about according to the Bible but here's the first thing here's the first rule that God will always enforce God is the life giver God is the life giver when we read you an article from Science Daily that I just read a few days ago the Bible said science daily says this investigators in China and the United States have injected human stem cells into primate embryos and were able to grow chimeric embryos for a significant period of time up to 20 days the research despite its ethical concerns has the potential to provide new insights into development of biology and evolution it also has implications for developing new models of human biology and disease the work appears in the April 15th in the journal cell so a couple things first of all the press is usually misleading with clickbait type articles like this because when you actually read into the details of what first of all they said they created chimeras okay so a chimera is like a mythical creature it's a mythical mix of two animals so it's like a horse body with a lion head that's a chimera okay so what they're saying is that they produced a chimera here and what they actually did was they took a monkey embryo okay a fertilized monkey embryo they injected human cells into it and it died they basically poisoned it with human cells okay but they're mixing you know cells with animal cells okay and like despite its ethical concerns you know they brush that one off quickly right they're talking about creating super humans and all this kind of stuff okay but look it's a misleading article you know I mean they said you know it lived for a significant period of time up to 20 days basically when you read what actually happened most of them died right away one lived for like 19 days or something but they basically killed this living thing is what they did by mixing human and animal cells together okay so this wasn't a human monkey mix as they would try to make you think in the traditional you know in the article title okay they're trying to get you to click on articles everything's trying to get you to click on articles by the way but it wasn't a human monkey mix as would be thought of in a traditional you know reading situation okay they simply poisoned a monkey embryo with you know human cells so that would be less exciting if they put it that way though but look it's a celebrated article turn to Genesis chapter 1 and let's look at why they died okay let's look at why this embryo died when they put the human cells into the monkey embryo why did it die turn to Genesis chapter 1 and look at verse 24 if people would just read the Bible they would just understand how things work better they would understand you know not only how things work and why they work but what we should do and what we shouldn't do okay look at Genesis chapter 1 verse 24 why did it die and God said let the earth bring forth the living creature after it's kind after his kind cattle and creeping thing and the beast of the earth after his kind and it was so everything will be able to bring forth after its own kind folks that is how God designed it these are the rules and they will always be the rules humans after humans monkeys after monkeys dogs after dogs look that's why there's many different kinds of dogs look there wasn't there wasn't you're like there's like ten thousand different breeds of dogs out there but they can all intermingle because they're the same kind they're the same kind a Labrador and a pit bull they can breed together because they're the same kind so there wasn't ten thousand dogs on the ark there was two there was two and then you know they can be bred into different traits and things like this you know there's many different kinds of dogs cattle after cattle it's the same thing many different kinds of cattle but you can't breed a cow with a dog it won't work you know there's different kinds so what are we doing here look I mean as a matter of fact God actually controls this very closely because if I mean there's certain cases where like a horse and a donkey who are very similar they can have offspring and that's what that's what a mule is you ever heard of a mule it's a cross between a horse and a donkey but guess what a mule cannot reproduce it's very similar to in North Dakota we have two types of deer we have mule deer and then we have whitetail deer every now and then you'll hear about you know they live in different they live in different terrains they have different habits and they eat different things and they like different climates so you won't usually find them together but there's some certain places in North Dakota where you have whitetail deer and mule deer and you can get across every now and then you'll hear about a cross between a whitetail and a mule deer but guess what that cross cannot produce its own offspring GMO seeds I could really get into conspiracy stuff with you here on GMO seeds but here's the thing with GMO seeds so they take seeds they take a natural thing that God has you know you know that wheat will bring forth wheat and it will produce seeds of wheat you know what my grandpa used to do he used to save 10% of his crop he would farm and he would take 90% of his crop and sell it and then he would take 10% of the best part of his crop and use it for seed for the next year because it brought forth after its own kind the seeds you know brought forth the seeds of the same plant but guess what so we can take these plants and we can we can you know take put proteins in them and do all these different things to make them resistant to certain pesticides and herbicides and we can make them produce more seeds and we can make them you know now my grandpa used to get about 30 bushels to the acre now if you're not getting 60 to 80 bushels to the acre you're out of business because of the GMO seeds and the different ways of fertilizing but here's what the GMO seeds what you can't do what you can't do with the GMO seed is keep 10% of it for next year because the GMO seed is not an heirloom seed it can't reproduce one time so you have to go back to the same company and buy more seeds the next year and more seeds the next year so to stay in business you must use the GMO seeds and you have to keep going back to the same company this is where the conspiracy comes in that basically one company controls the food supply the entire world but no big deal I'm sure it'll be fine but my point is it goes to god laid out rules and if you play with those rules it's not going to work he's going to limit there's limits of things that we can do so kind brings forth after kind so what are we doing mixing kinds together especially with human life turn to Leviticus chapter 20 look some things will just not be allowed as a matter of fact humans mixing with animals into a traditional breeding situation is actually punished by death in the Old Testament I mean it's an unnatural thing that we don't even like to think about but god had to point it out I mean you think about the rules that god had to make and you're just like wow you had to think of everything but look at Leviticus chapter 20 in verse number 15 the bible says and if man lie with a beast he shall surely be put to death usually slay the beast so this is what we know the point I'm trying to make is this we already know what god thinks of this we already know what god thinks of this and considering how god reacted to people pushing limits in the beginning in Genesis chapter 11 it's probably not going to be good you know we're just heading into turn to Genesis chapter 2 it's probably not going to be good but god is the life giver look at Genesis 2 in verse 7 the bible says and I can read you verse after verse after verse I'll just read you a couple but the bible says and the lord god formed man out of the dust of the ground and breathed into his nostrils the breath of life and man became a living soul look first of all animals don't have living souls by the way you'll never see that in the bible no dogs don't go to heaven you're like that's why you know look it's sad look it's sad when a pet dies we just had a pet die okay look it's sad we missed the pet but look the pet you know where the pet is the pet's in the ground or the landfill or wherever they took it you know the pet is not does not have a living soul okay there goes half the church just is leaving but man is the only one that has a living soul and he has that living soul because god breathed life into him god specifically gave life look at Job chapter 33 animals don't have living souls it only says this in the bible about the man the bible says the breath of the almighty have given me life look god gives life to our bodies and our souls every person alive today every single person that is alive today or that has ever lived has been given this life and this soul so this is what you can say to the guy that you're out soul waiting that doesn't believe in god or doesn't like god or whatever and says what has god ever done for me he breathed into you your life and your soul he breathed it into you even though you don't you're not going to respect him for that you're not going to thank him for that look god has given every single person who has ever lived the most precious thing that they will ever have which is their life and their soul and it's interesting because with all the advancement now think about this machines with all the rockets I love rockets with all the technology the capabilities of just what we can do I mean I toured an oil rig one time just like you say an oil rig I mean this oil rig I toured this guy the foreman on the oil rig said they're drilling 5 miles into the ground they're drilling I'm like how do you know there's oil down there there's a spot like 10 feet wide 5 miles away that they have to get into and I'm like they know because they have technology that tells them what's in the ground 5 miles away I said how do you know you can get there he said I can hit a coffee can 5 miles away with this drill bit that's technology that's impressive I love stuff like that but with all these capabilities we can't create one living cell we can't create one living cell we can't create you say oh the robots the AI the self-driving cars get in one you'll die okay don't get me started on self-driving cars I used to build control systems for a living there's a lot of problems there 99.8% is not good enough you can't kill the driver 0.2% of the time it's not going to work but look we can't create one living all the I think of the robots the robot dog you ever seen that one the military robot dog we can't create a robot that has even one life cell in it we can't create a robot that is as complicated as even a fruit fly is even the smallest thing that we don't even think about I just smashed like one of the most complicated machines that man will never be able to build not one living cell but we can toy with life can't we isn't that what we're doing we're taking something that we can't we can't create but we're toying with it we can mess with it we can poison it we can clone it shoot electricity into it and shoot some more cells into it we can do all these things we can inject things into that life that God has already made that was punishable by death which I showed you we can harvest things from life we can take you know what God has created and we can harvest things like stem cells from it which leads me to my next point you know what we're really good at you know what we're really good at we can't create a single cell and because God's the life giver it's very clear I could have read you 100 verses in the Bible talking about how God is the life giver you know what man's really good at though we're gonna take it away we're gonna take it away life you know what we're really good at we're good at murder you know what we're really good at we're good at abortion that's what we're good at we're good at wrecking it we're good at destroying it you know we're good at war we're good at wars that kill millions of people we're really good at that we're good at killing the most innocent life that God has ever created and not only that, but we're good at killing that life and then extracting, you know, parts from that life and doing sick experiments on animals with that murdered life. That's what we're good at. No thanks. I'll stick to rockets.  Taking life is also God's domain. Giving life is God's domain and taking life is God's domain. I'm telling you, God will end these advancements. Just like he stopped what was happening in Genesis chapter 11, God will not allow certain things. If man doesn't have enough respect to respect God's boundaries, like kind after kind, look, God doesn't change. God, he will intervene, just like he did in Genesis chapter 11. But we push these limits. We push these limits and you know what they did in Genesis chapter 11? They pushed the limits. They pushed God. They tempted, they tempted God. We ought not to tempt God. We ought not to test God. Hey, who thinks it's a good idea to see how far we can push the Lord? Whenever you see man toying with this life that we can't create and messing with it, this is like a mixing beast with man in any way, this is, this is testing God. When you read articles like that you say, you know what? We're testing God. Whenever you see man taking away life like it's nothing. Look at Manasseh. He sacrificed children. He sacrificed human beings. He was just taking away life. We're doing the same thing way worse today. We're testing God. But here's the thing. Here's why you have to care. Here's why you have to care right here today. You read an article like that and you say, you know what? I'm not for this. I'm not doing that. But you know what happened in Babel in Genesis chapter 11? You know what happened with Manasseh and the nation of Judah? You know what happened there? The entire nation paid the price. God didn't just go into Babel and say, you know what? The U engineers making these bricks and you project managers that are trying to reach heaven. It's like just you guys, I'm throwing you out. I'm throwing you out to Mongolia. Get out of here. No, the entire, all of them paid. They all paid. Look, the entire nation will pay.  But here's another thought. So that's the first thing. If we don't watch it, if we tempt God, God will intervene. God will intervene and the entire nation, everybody will pay. So we should care. We should care what's happening. But here's another thing. Just another thought for you. Turn to Psalm chapter 19. What about other advances?  What about other advances? Are these okay? You know, what about just technology in general? Are these okay? Let me give you a couple more thoughts on this.  I mean, I love this stuff. Look at Psalm chapter 19. Look what the Bible says in Psalm chapter 19 in verse number one. The Bible says, the heavens declare the glory of God and the firmament showeth his handiwork. Have you ever seen images from the Hubble Space Telescope? We've got this telescope that orbits the earth and it's taking all these shots for the last, I don't know how many years, you know, decades. It's taking all these shots of distant galaxies and, you know, the Bible says that all those galaxies in the heavens, those heavens, you know, the heavens that we're looking at in space, the Bible says that that declares the glory of God. As that we're doing, we take the Hubble Space Telescope pictures and be like, can you believe, you think the engineers at NASA are like, look at the beautiful glory of God. You think that's what they're saying? You know what they're saying? You know what they're saying? They're like, I mean, what do we do with it? What do we do with all these images and all these beautiful galaxies that we found and these stars and all these things? They're like, man, are there any aliens out there? You know, we're looking for aliens. This is what we're doing with it. We're looking for super, we're looking for, we're looking for the super civilization. That's what these guys are doing.  They're looking for the super civilization and they're looking for Martians. Okay? I'm like, man, could we get Stephen Hawking to just design a better lawn mower? That would have been better for the world. Instead, he's like imagining different universes that all happen at the same. This is what he believed. He believed that every different possible, I mean, no, this is real. Okay? Listen. This is what Stephen Hawking, one of the most, the most, and I believe that he had an IQ that was as high as they say it was. He had the capability. He had a machine upstairs that was capable of doing a lot of math faster than probably any of us. But here's what he believed. He believed that every single possibility of any moment in time existed in its own universe.  It's fine. It's not in this universe, brother. It's not right now. Okay? No, it is now, but it's in a different universe. It's a multiverse. Every possibility. Me running up and down screaming and, you know, running around and giving Matt a high five and then going to, I mean, there are infinite possibilities. They all exist in different universes. I mean, this is what he believed. Like I said, can we get you to get a car? Make a car. Make a small block Chevy that gets a hundred miles to the gallon. Please. That's what we should have done with his time. Instead, we're looking for super civilizations. They're looking for aliens. And look, we're not gonna find aliens, folks. Look, I'm telling you, we're not gonna find aliens. You're like, how do I know? You're like, how do you know that? How do you know that there's no aliens? Don't you know that people have been abducted by aliens? Look, folks, there's no aliens. Why? How do you know? Because, I mean, have you read the Bible? Have you read the Bible? Here's what the Bible's about. Let me just, let me give you the Bible in 20 seconds. The Bible, the Bible, the focus in the Bible is on us, on the earthlings. Okay? It's about our relationship, our relationship with God. That's what it's about. There's no third party. Okay? There's no third party. There's no Martians that come in. They're like, Beep, beep, beep, beep, beep. Who's Jesus? Beep, beep, beep, beep, beep. Okay, look, it's not real. Okay? People do stuff to make money. People write books. I got abducted by aliens.  That's what it is. So there, there.   There's UFOs. I believe in UFOs. You know what? Unidentified flying object. It means that something's flying around and they don't know what it is. UFO. That's, that's it. Turn to Genesis chapter one. So what, I mean, what about all the galaxies?  Yes, that's what I'm telling you. How do you know? Because turn to Genesis chapter one. Turn to Genesis chapter one.  I'm not going to give it away. Go to Genesis chapter one, verse 14. I'm going to tell you what all that is about. Genesis chapter one, verse 14. Look what the Bible says. And God said, Let there be lights in the firmament of the heaven to divide the day from the night. And let them be for signs and for seasons and for days and for years. And let them be for lights in the firmament of heaven to give light upon the earth. And it was so. And God made two great lights. The greater light to rule the day, the sun, and the lesser light to rule the night, the moon. And He made the stars also. And God set them in the firmament of heaven to give light upon the earth and to rule over day and night and divide the light from the darkness. And God saw that it was good. So look, we have the reasons right here. So the heavens and the stars and the galaxies and everything in the firmament. What is the purpose? Number one, it's light. Number one, it's light. And interestingly enough, as we've already talked, light, it gives life. Did you know that if we didn't have the sun, which lights up the moon, by the way, that if we didn't have the sun, that everything would die? That all the plants, you ever heard of photosynthesis, all the plants that need the sunlight would die, all the animals that eat the plants would die, and eventually we would die. If there was no light, we would freeze the death much sooner if there was no light. But look, interesting, everything would die without the sun. Everything, even us. So it's light. It's light. That's the first thing. Number two is seasons. And for seasons, verse number 14, I mean, the sun, the moon, the tides, the weather, think about this, we still can't predict weather past 10 days. And even the 10 day forecast is, you know, past 10 days. Yet we're confident enough to say that we know what's going to happen in 20 years or 30 years. Every single prediction in the past, it's almost like God is confounding us. Every single prediction of global warming, global cooling, whatever has been wrong, has been wrong. We can't predict the weather past 10 days. But that's what that all this stuff is for. The sun, the moon, the stars, it's all for the seasons. I mean, it's actually pretty amazing when you look at it how stable the seasons and how stable the climate of our planet actually is when you think about it. How about days and nights?  I mean, there's times in Alaska where the sun just shines like 23 hours a day. That would be terrible. It's for days and nights. And finally, it's to show the glory of God. It's to show the glory of God. Look, these things are put there.  It's this huge clock. It's this huge clock where everything's moving and rotating perfectly in time with one another to give us the seasons that we need to give us the day and the night to give us the tides, to give us the rain and the wind and the clouds and all these different things. This is the clock that God has designed. And we ought to be able to look at that and just say, man, look at the glory of God. We cannot predict it. We cannot control it. I mean, just look at the glory of God. That's what it's for. Turn to Romans chapter one. Go there this time. So that's what the heavens are for. That's what the stars are for. It's not, there's no aliens. What about technological limits? How much will God allow us to invent in this world? And I want to ask you this question, and this is something I think about a lot. But look at Romans chapter one. Let me ask you this question. Are we really inventing anything in this world? Look at Romans chapter one and verse 20. The Bible says, for the invisible things of Him from the creation of the world are clearly seen being understood by the things that are made, even His eternal power and Godhead, so that they are without excuse. Now the context of this is that we should be able to look at creation. We should be able to look at everything that God made, and we have no excuse for not recognizing God. None. Nobody has that because everybody can see this. But what's interesting is the first part of this verse says some things that are really interesting. Because looked at more specifically we see that the invisible things of creation are understood by the things that are made. So when we make things, when we invent things, look, these are things, these are things that are here already. When we see the things of creation, the trees, the plants, the materials, they can be used to understand the invisible things. Okay? Now follow me here. Follow me here because this is, we don't really invent anything. And follow my thought process here. These things that are here already, the creation, the trees, the plants, the materials, the iron ore in the ground, they can be used to understand the invisible things. And when we do use those things to understand the invisible things, that's what we would call invention today. But look, let me give you an example. We find a rock. We find a rock. And this rock, for some mystical reason, it attracts other rocks. I'm speaking of a magnet. We find a magnet in the ground and it attracts certain rocks that have iron in it. And then we find that when you move this rock across other types of rock, that it induces an electrical charge into that other rock. So here we have, we're just, we're just playing around with rocks here. And we just found, look, we found some of these invisible things. Electricity is one of these invisible things. Look, electricity was always there. The rock was always there. They are the things that were made. We just figured out how to use them together. We just became understanding of that thing that God had already made. We just gained understanding through that. We didn't invent it. It was there.  Any invention could follow this same thing. Look, I have two patents. I have two patents. I'm not telling you that because of how great I am. I have two patents where I've just, I figured out how, you know, I figured out something that was already there and you put this over here and put this over there and, you know, it became a new idea. And you know where the idea to even put those two rocks together in my case came from? That came from God. I have no idea how I got that idea. It came from God. And, but it wasn't anything new. It was already there. It was just understanding of the things that were made, that was given. Something invisible that was already there. There was just a first person to discover all these things. But they're the invisible things of God and God had created them. They were already there. Electricity, silicon. The silicon transistor, probably one of the best inventions of the last hundred years. I mean, silicon was already there. It already existed. We just put things together to unlock these invisible things. So what I'm talking about is, well, how much is God going to allow? How much is God going to allow? Why didn't, I mean, why didn't Adam, you think about this, why didn't Adam, God, look, these things happen, these advances happen because God allows it. This is what I'm trying to get you to understand. These things are already there. I don't know how many things, how many invisible things are still there. There's probably a lot. A lot of invisible things that are still there that we haven't unlocked. God just allows them to be unlocked. You say, why didn't Adam, if you lived 800 years, why didn't Adam unlock a lot of these things? Well, first of all, there's a lot of evidence that pre-flood civilizations had a lot of technology. There's a lot of evidence for that. But you know what? That doesn't fit. And I'm talking about batteries, electricity, you know, plumbing. Even, you know, some people even say that they might have, there might be airplanes. There might have been, you know, flight, pre-flood. There's evidence for that stuff. There's drawings for that things. There's things that have been found. There's evidence for it. I don't know how much there was and there wasn't. But the point is this, the point is this. It's because God allowed it. That's it. God will choose what He unlocks and what He doesn't and when He does so. And I believe, I believe that one of the main reasons that I think that our current society, and this is my opinion now, that I think that our current society in the advances that we are now having are part of, or a sign, at least a sign of the end times is because they are certainly no longer a blessing on our society. So God is either blessing a society, which I believe was the case at the beginning of our country. You know, many of the men in the 1700s and the 1800s, many of those scientists, they were actually engineers who were experimenting and inventing things, motors, engines, all these different things. You know, processes to make more materials and different materials. Many of these men, I mean, I'm not saying they're all saved, but they at least acknowledged God. They at least acknowledged God, and some of them were saved, I believe. But that's different. That's a blessing on a society. That's a blessing on a society that knows that they're just unlocking the invisible things of God. That's not us today. So it must be, it must be a sign of the end times, in my opinion. But look, instead, you know, instead today, these advancements, they're about us elevating ourselves. Even in the case of the biology experiment that I talked about that inspired this sermon, it's about us becoming superhuman. They even said it in the article. It's about advancing humankind over what it is. Hey, how about just, you know, be happy with the perfect thing that God made and quit trying to mess it up? It becomes more about man elevating himself. More about evolution. More about theories to get rid of God. This is the advancements that we see today and the reasons for them. And these advancements today are not factories and machines to better mankind. It seems like a lot of it is technology to drive us further into sin. There's a lot of good things about the internet. There's a lot of bad things about the internet, too. And I think, man, I think because of the knowledge, look, there's this great increase of knowledge called the internet where anything is available to us. And I think man is generally using it to become a worse man. That's what I think. It's great to be able to fix a motor yourself at home, but it's worse to fall into sin. It's worse to get into sin so deep that maybe you don't even care about God anymore. To scar your own conscience to the point where if somebody came and preached the gospel to you, you wouldn't even want to hear it. Sin can do that to you. Sin can put you in such a scarred conscience situation where you could care less about God or knowing about it or even turn against him. This is technology today. This is technology. Professing ourselves to be wise, we become fools. It's one of the biggest signs I see of end times. And if it's not end times, then it's just God removing his blessing from our countries. But look, two points to interesting times ahead. Two points to summarize my random thought process this morning. Let me just summarize the two points. If we were smart, if we were smart, we would respect the rules and limits God has placed on life.  And he has specific rules on ending it, on toying with it, on mixing it up. And we ought to respect that or we're testing God and it will never, I mean people that tested God in the Bible, it never works out well for them. And God does not change. He feels the same way about this stuff that he did from the beginning of time. And the second thing is this. God decides, the second point is this, God decides just to summarize what he will unlock of the invisible things and what he will not. God decides that. And he will always decide that. It's really, you know, it's really too bad. It's really too bad that we're not a society that is glorifying God.  A society that praise God as Daniel did and every wonderful miracle that Daniel, you know, did or prophesied, he said, glory to God, I did nothing. I did nothing and it came from God. And God just kept elevating and elevating and elevating. And look, we could be that Daniel society, but that's not us. That's not us. And it's going to come to an end. Because we're testing God in a lot of these different areas. And even the technology that we're inventing today and that we're using today with all this knowledge, as Daniel talks about in Daniel chapter 12, it's being used to destroy us. We're destroying ourselves with it. It's not God's blessing. You can clearly see that. But we should use it for that at least, but it's not God's blessing on our nation. We are testing God with this stuff. It's a shame. You know, the heavens declare the glory of God. All these things, all these advancements, all these invisible things, they're not from us. It's the glory of God. It's the glory of creation, as Romans 1 says. All these, every single invisible thing that is invented or come up with, it's just, it's just unlocking the invisible thing of God. But we don't give God that glory. We take it for ourselves and we try to, we try to reach the heavens ourselves. And it's going to end the same way that it ended for all these societies here. Let's bow our heads and have a word of prayer.


The need to separate those out so that the implicit taxpayer guarantee which was and should be given to the retail banks isn't used by the banks to bail them out when they behave recklessly within the investment arms of their banks. That's what they concentrated on. Unfortunately, they fluffed it. They got the question wrong. And even the one they did try and answer, they fluffed because they have what they've actually done is to set up what are best described as Chinese walls. Between so that it's not a complete split. But there are supposed to be divisions between them, which are going to be sufficient to maintain that separateness. I bet you within five years and probably considerably less the banks will have found a perfect answer to get rounded. Secondly, the Basel three proposals decided that the main way to control the banks was increasing the capital ratios. The amount of capital they have to have relative to the amount of lending that they make. They propose that it should be written increased from 7 to 10%. For all the reasons you will. I think I've heard about this morning. Capital ratios are not going to be an adequate way or whatever figure you choose to control the banks. And when you think this is going to come in, because we've just had a financial crash, a lot of people are talking about a possibly equally serious one, not very far hence. So what did our politicians and our regulators decide it should come in in 2019? What does that tell you? So what should be done? Right, control of the money supply should be brought back into the public domain. That is the central requirement. Direct credit controls and this is not a partisan objective. This is not a lefty vaguely progressive idea. This is something that has been tried by many of the most successful countries in the 20th century, by Japan, by Korea, by Taiwan and many others which have had phenomenal success using this particular requirement. The only way to control credit is direct credit controls, not by imposing fancy financial instruments of one kind or another in respect of the banks. The so-called window guidance is perhaps a bit more than windows. It's pretty, pretty strong, but it is necessary central as a central bank would determine the desired nominal GDP growth. If you work out what you expect or want the GDP growth to be, you then estimate the amount of credit creation which is necessary to achieve that and you then allocate this credit across various types of banks and across industrial sectors. It is a form of dirigism. That's perfectly true. I think it should be kept to a minimum, but that minimum is I think what is necessary compared to the exact opposite that we've had which is total unregulated unfettered freedom in the terms of market forces. Now, unproductive credit creation under this system, for example speculative transactions like today's lending to hedge funds, was firmly suppressed in these countries and consumer loans on any significant scale which would trigger an inflationary demand for consumer goods and would certainly draw in more imports. We're discouraged, not impossible, but certainly discouraged and pretty hard to get, but the priority was given to productive investment, to plant and equipment, to key services, to enhance productivity with new technology and R&D and I simply say if we want to escape from the unsustainability of our current economic course. If we are going to be able to justify our standard of living by the goods and services that we produce and sell, I simply submit that some system of this kind has got to be introduced into this country. It is probably, I know we'll be talking about the NHS, we'll be talking about jobs, no doubt we'll be talking about Europe and this is probably the single most important issue at the next election for a genuinely reforming political party. I can't actually see one on the horizon at the moment, but the state of events does produce the consequences that are needed. The powers of public institutions in credit creation and allocation have clearly got to be greatly increased and there are very good reasons for that. Banking crises are basically down to credit driven asset bubbles and it is the role of public monetary policy to be able to prevent these and to have the powers in order to be able to do that. Secondly, restrictions on direct government credit creation imposed by the Maastricht Treaty I think should be reconsidered. I recognise that that has very significant EU implications but those, after all, the Tories are very keen on renegotiating Maastricht in order to get back powers over social, environmental and labour legislation. Well, I think we can equally be looking for major changes in a very different direction. But partly, I think it has to be reconsidered because the system has been put under enormous strain by the Eurozone's sovereign debt crisis, but also the main reason is because the direct creation of money by government itself may well be needed to ensure that the economy reaches its full growth potential. And there couldn't be a better time for saying this than now because I think with the last speaker where you had a question about growth, where's the growth? I think it was saying, or perhaps you were saying you didn't want growth but a lot of people are saying they do want growth and where is it? And the answer is in a recession, the private sector is never going to invest because there's no demand, there's no aggregate demand for its goods and services. The only way you can get out of a recession is when the public sector, when the government or backed by the government, generates those demands by creating jobs, creating infrastructure improvement, improvements in the digital and green economy, all the rest. That's the way in which it needs to be done and the government needs to have the power to do that. And there are very good reasons why the government should have it because there are no servicing costs in terms of interest or interest upon interest, what's called compounded interest, which makes it a lot more efficient and cost effective. And the last point I want to make is why we need greater powers of public institutions is control over financial derivatives. The structured investment vehicles and collateralized debt obligations and above all the credit default swaps. The size of credit default swaps in the city of London would stagger you. It is well over 60 trillion pounds. It is absolutely staggering. I'm not saying it's all wrong or all bad. I'm saying quite a lot of it is corrupt and bad, but it needs to be effectively controlled, either prohibited or certainly tightly controlled. Now, I've probably gone on for my time. I will just say this because certain things I've not mentioned, this is going to take 30 seconds and no more. There are, of course, other issues with regard to the banks. The full separation of retail from investment. We need specialist banks, not just four big banks, banks that deal with infrastructure, banks which deal with knowledge and R&D, banks which deal with mortgages, perhaps Northern Rock for low income households, banks that deal with the green economy, which is coming and specializing in that. There are problems, of course, over credit agencies, credit rating agencies. I didn't go into that, but it's a really serious problem. Proprietary trading by the banks and, of course, bonuses. But the key issue, the central issue, the overwhelming issue, which this country has got to face up to, is the restoration of democratic accountability via the control over the money supply. And I must say, I play a tremendous tribute to Ben Dyson and the other people in positive money, New Economics Foundation, because I think they are saying something of enormous overriding importance for this country, with the politicians, the opinion makers in the media and everyone else have ignored. And I am very grateful that you are finally bringing it to public attention. Thank you.