In James 5:2-3 James uses three illustrations to the temporary nature of wealth that these believers who idolized the wealthy had failed to realize. In each case the Greek wording anticipates their future demise as already happening with the use of the word “ARE” as in “your garments ARE moth-eaten”.
• Your riches ARE corrupted: When we think of wealth today, we think of real estate, stocks and bonds and precious metals but wealth has always been a cultural reality as in an agrarian society it would be measured in a different kind of stock, ones with four legs.
Here it appears that James has in view produce as he says they are susceptible to decay. His point is that the hoarding away of produce without the ability to resist decay isn’t something to be admired because the storage makes it worthless and keeps others from being able to use it. The wastefulness of the wealthy is what James is speaking on that their extravagant lifestyle wastes resources others could use as they don’t have enough because the wealthy have taken it and wasted it.
• Your garments ARE moth-eaten: Another evidence of wealth was the wardrobe of the rich. They bought extravagant garments to flaunt their wealth. With all the expense of their clothing living in the middle east made such garments vulnerable to moth and insects that would make them nothing more than high priced rags.
While in the Dominican Republic I had the opportunity to visit a museum that just so happened to be displaying the Dominican fashion designer Oscar De La Renta, these gowns were worn by the most famous people and went for millions and now were behind glass adorning mannequins.
• Your gold and silver ARE corroded: It is clear that James is using this expression figuratively saying that such precious metals that are being stored up for the future without an understanding of WHO hold the future might as well be iron.
Each of these three examples express the futility of keeping in storage things that should be put to use for the glory of God. The believers are to not idolize such folks who so live in the world’s ways as to admire them. True wealth is never to be measure by what a person HAS but rather by what a person DOES with what they have! The truth of the matter was that in less than 30 years when the Roman general invaded Jerusalem he destroyed it and all the riches that the wealth had gathered became the Roman’s spoil. God is always better honored when His people are funnels and not sponges to the resources God has given us!