A truly remarkable development has occurred in the world of global banking, and I wanted readers to know about this right away.
As the first link puts it: “The ECB [European Central Bank] took the radical step of cutting its deposit rate to a negative 0.1 percent.” The first link also points out no central bank has ever attempted to do this before. It is truly bizarre as it means that if you deposited money at their bank, you would have to pay the bank interest to accept your deposit! The second link calls this action the “monetary twilight zone.” I invite you to read the analysis in the two links about this unprecedented step. Ask yourself the question: If your bank tried to charge you interest just to accept your deposits, would you make a deposit at that bank? I can’t imagine that anyone would do so. Indeed, this smacks of growing desperation on the part of ECB and the global banking system.
I suspect the ECB is doing this as a test case to see what the reaction to this action is. If so, it won’t be much of a valid test as the ECB is not a retail bank, but a central bank. If actual retail banks dealing with the public tried to do this, can you imagine the tidal wave of deposit withdrawals that bank customers would make? If retail/consumer banks ever try to do this, I think it will be a sign that currency controls are imminent–not just internationally, but domestically as well. This kind of action could cause such a massive loss of confidence in banks that it could trigger the collapse of the global financial/monetary/commercial system that is prophesied in Revelation 17-18 to occur in the latter days of our age. This blog has noted in past posts a variety of possible triggers that could fulfill the prophecy of Revelation 17-18. Add this strange banking action as one more possible trigger that could eventually trigger the prophesied collapse of our current global financial system. Keep in mind that Revelation 17 specifically reveals that the collapse of the current global financial system will result in the “beast” system being imposed globally as a replacement financial system, and that Revelation 13 adds that the “beast” system will at some point become very dictatorial and controlling (see verses 15-18). The good news is that the beast system will be limited by Divine decree to survive only 42 months (Rev. 13:5). There is even better news. Jesus Christ himself prophesied that the end-time timetables of prophetic “days” would have to be shortened (Matthew 24:21-22). Indeed, the end-time prophetic timetables may be shortened a great deal. The parable in Matthew 25:1-13 repeats this same theme as it warns believers in the latter days that Jesus Christ’s Second Coming will occur considerably sooner than any of the believers expect. That is really good news! When you see the fulfillment of Revelation 17-18’s prophecy, rejoice that Jesus Christ’s return is drawing very imminent.
What we do not know from biblical prophecy is whether there will be a period of financial chaos between the fall of the current system and the imposition of the beast system or whether there will be a seamless transition which is already being planned behind the scenes. Either alternative is possible, but it seems logical to me that a period of chaos would serve the interests of the new beast system very well. The nations will be reluctant to yield very much sovereignty to the new beast system if there is no chaotic period. The longer the chaotic period is allowed to last, the more the masses will clamor for the nations to “do something” and nations will be more motivated to yield parts of their sovereignty to the new beast system.
We are certainly in for a wild ride in the years ahead of us as biblical prophecies are fulfilled.
Thanks to a reader who sent me one of these links!