"Listen, my fellow siblings in Christ, has not God chosen the poor to this world, yet rich in faith, and heirs of the kingdom which He has promised to those that love Him." Interpretation of James 2:5
Key points:
1) beloved brethren refers to James' fellow Christians, rather than Jews or just men.
2) The idea is God has chosen individuals who were poor in the eyes of the world, or poor according to the world's value system.
3) The verb "chosen" has three objects or receptors of its action: (a) those poor to this world, (b) those rich in faith, and (c) those who love God and therefore heirs to the kingdom promised.
4) In order to be poor to this world those chosen were existing in the world when chosen, not foreseen individuals before creation.
5) In order to be rich in faith, those chosen were existing in the world and had their faith credited as righteousness by God.
6) In order to be heirs to the promised kingdom, those chosen were existing in the world and loved God, rather than foreseen individuals who would love God