As readers of my blog know, I regard the modern global economic/commercial system as the global economic/commercial system called “Babylon the Great” in Revelation 17 and 18. This globalist world economy is prophesied in these chapters of Revelation to take a very hard fall in the latter days, and be replaced by a new globalist “beast” system. In the old days, Wall Street and the Federal Reserve Board (beating hearts of Babylon the Great’s system) got just about everything it wanted from the White House, Congress and the courts.  Things are changing.

Previous blogs have noted that the US House of Representatives is poised to pass a bill to do a complete audit of the secretive Federal Reserve Board. Rep. Ron Paul’s bill to authorize the audit now has enough co-sponsors to pass the bill. Also, Germany’s Chancellor Merkel openly and harshly criticized the US Federal Reserve Board, and such nations as China, Russia, Germany, France, etc. have all been reported as calling for the replacement of the US dollar as a global reserve currency. Clearly, the foundations of the current global economic system are beginning to show fracture lines. More fracture lines in Babylon the Great’s hold on power are beginning to appear.

The first two links below (from USA Today and the New York Daily News) report details of a court case in which a federal judge issued a “sharp rebuke for both the Bank of America and the SEC.” The case involved the manner in which shareholders of Bank of America were “lied to” re: the Bank of America’s take-over of the defunct Merrill Lynch corporation. The federal judge sharply scolded the Bank of America and the SEC, writing that “the proposed consent judgment was a contrivance designed to provide the SEC with the facade of enforcement,” and he also issued a sharp rebuke to the Board of Directors of Bank of America for not acting in the interest of the shareholders.  The article also notes another court case in which the New York’s Attorney General’s office may bring criminal charges against Bank of America executives. The too-cozy relationship between the SEC and a major bank echoes Revelation 18:3’s prophecy that the global “merchants of the earth” would be in bed with the “kings of the earth” (the political establishment) to their mutual aggrandizement.

The third link details President Obama’s warning to Wall Street against a return to the “days of reckless behavior” on Wall Street as he proposes “the most ambitious overhaul of the financial system since the Great Depression.” Obama’s proposals would set up a “‘systemic risk’ council to oversee banks and investment firms” as well as establish an agency “to protect consumers from predatory loans and other financial abuses.”

It seems that Congress, the White House, the courts and foreign nations are all getting angry at the Wall Street/Federal Reserve Board axis which has controlled (and some websites allege “rigged”) the global economy for many years. A previous blog at this website detailed the quickly-covered up revelation that Goldman Sachs had developed a secret software program which could manipulate economic markets. One does wonder why Goldman Sachs would develop such a software program unless it intended to “manipulate markets.” That earlier story reported that a Russian national was arrested trying to leave the USA with that Goldman Sachs program, but that part of it had already been sent to Germany and Russia for analysis by forces opposed to Wall Street’s manipulations of the global economy.

The third link also cites New York Mayor, Michael Bloomberg, as saying “Congress has been unwilling to change regulation because too many of them [members of Congress] rely on campaign donations from a variety of people they regulate.” This scathing criticism of Congressional venality by Mayor Bloomberg reminds me of Isaiah 1:23’s prophecy that the “princes” of latter-day Israel would all “love bribes and follow after rewards.” Does God regard campaign contributions by the “merchants of the earth” to buy access to Congress and buy the votes of Congressional members on various bills as “bribes?” I am sure he does.

If even the Mayor of New York, where Wall Street is located, is getting disgusted with Congress for not regulating Wall Street correctly, one wonders how long it will be till Babylon the Great experiences its prophesied “fall.”