What does Genesis 47:16 mean?
Joseph's plan to help Egypt and the nearby nations survive seven years of famine had worked beautifully (Genesis 41:33–36). Under the authority of Pharaoh, Joseph had sold food to the people for the first two to three years (Genesis 41:55–57). Before long, this used up the cash reserves of the people; Pharaoh's house had all the money in the region (Genesis 47:13–14).Now the people have no money, but they continue to be desperate for food (Genesis 47:15). When they come back and demand food, Joseph offers an alternative plan: trading for livestock. Joseph suggested trading their cows, sheep, horses, and donkeys for food. It's not likely that Joseph was taking direct possession of every animal, though it would make sense that some would be given over physically in exchange for food. More than likely, Joseph is mortgaging or taking ownership of the animals in some sense. This, as well, drastically increases the wealth and power of the Egyptian Pharaoh (Genesis 47:17).