God is a thought form
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The powers held by religion are social
The powers held by organized religion relate to their socio-economic influence rather then to any supernatural power
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The Argument
When we discus the powers held by institutionalized religion these powers are best understood in the same terms as we understand any other social institution. There is nothing particularly unique about god, it is just another idea that holds sway within the border battle of ideas. This is not to say it is not powerful as the idea of god has, and still does, controlled entire societies. When people reference the power of god, know it or not, they are referencing the power wielded by these institutions.