Midas Touch: You’ve Got to Read This Book!

Charismatic Bible teacher Kenneth Hagin Sr. also known as “Dad Hagin” started a grass-roots movement in Oklahoma that produced Rhema Bible College and a crop of famous preachers including Kenneth Copeland, Jerry Savelle, Charles Capps, Jesse DuPlantis, Creflo Dollar and dozens of others—all of whom teach that Christians who give generously should expect financial rewards on this side of heaven.
Hagin clearly espoused that God is not glorified by financial poverty. However, he was also concerned that many associated with his ministry were distorting his original message and were in fact manipulating the Bible to support what he viewed as greed and selfish indulgence. He wrote a brutally honest book to address his concerns called, The Midas Touch.
Here is a summary of what Kenneth Hagin states in The Midas Touch:

  1. Financial prosperity is not a sign of God’s blessing. Hagin wrote: “If wealth alone were a sign of spirituality, then drug traffickers and crime bosses would be spiritual giants. Material wealth can be connected to the blessings of God or it can be totally disconnected from the blessings of God.”
  2. People should never give in order to get. Hagin was critical of those who “try to make the offering plate some kind of heavenly vending machine.” He denounced those who link giving to getting, especially those who give cars to get new cars or who give suits to get new suits. He wrote: “There is no spiritual formula to sow a Ford and reap a Mercedes.”
  3. It is not biblical to “name your seed” in an offering. Hagin was horrified by this practice, which was popularized in faith conferences during the 1980s. Faith preachers sometimes tell donors that when they give in an offering they should claim a specific benefit to get a blessing in return. Hagin rejected this idea and said that focusing on what you are going to receive “corrupts the very attitude of our giving nature.”
  4. The “hundredfold return” is not a biblical concept. Hagin did the math and figured out that if this bizarre notion were true, “we would have Christians walking around with not billions or trillions of dollars, but quadrillions of dollars!” He rejected the popular teaching that a believer should claim a specific monetary payback rate.
  5. Preachers who claim to have a “debt-breaking” anointing should not be trusted. Hagin was perplexed by ministers who promise “supernatural debt cancellation” to those who give in certain offerings. He wrote in The Midas Touch: “There is not one bit of Scripture I know about that validates such a practice. I’m afraid it is simply a scheme to raise money for the preacher, and ultimately it can turn out to be dangerous and destructive for all involved.”

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