In what should be reported as a major story in the financial press, a Brazilian bond-rating agency “will soon issue a judgment on American government bonds. Its verdict is not pretty: the company says it will issue a AA rating.”  Since American Treasury bonds have long been rated AAA quality, this means US Treasury bonds are being downgraded in Brazil. The link below also cites China’s growing concerns about the creditworthiness of US Treasury bonds as well as a possibility that Moody’s, an American rating agency, might also lower the rating of US Treasury bonds. The Brazilian agency also notes that the “structured products” issued in recent years by Wall Street (i.e. subprime loan bonds, derivatives, etc.) were “mistakenly” given top-level AAA ratings that they did not merit. Brazil is an important member of the increasingly influential BRIC nations (Brazil, Russia, India and China), so this action will set off alarm bells everywhere in global financial community. How many Americans are being told by the US media that their government’s bonds are being downgraded in Brazil and are likely to be downgraded elsewhere as the future unfolds. It is worth noting that Brazil was the only western hemisphere nation invited to the international financial conference held in Yekaterinburg, Russia (a conference which told the USA its representatives were not welcome).  I’m sure this is all just a “coincidence.”

A downgrading of US Treasuries by a foreign rating agency is major (and unprecedented) action in the global financial markets. I doubt it was mentioned much in the US media as this is very bad news for the Obama administration, the US dollar and the US T-bond market. Once one foreign rating agency downgrades US Treasury bonds, it will be easier for other nations to do so as well. Given that the Obama administration and our current Congress is spending money not like a proverbial “drunken sailor,” but rather like an entire ship full of “drunken sailors,” such downgrades would seem to be not only logical but inevitable in the future.

Many previous blogs have examined the deteriorating condition of the current global markets dominated by the USA and the US dollar. Even the establishment media have done many articles about calls by Russia, China, India, Germany, France and other nations that a replacement for the debauched US dollar as a global reserve currency must be found to protect other nations from the financial profligacy now being practiced in the USA. As this post is made, the Obama administration and the Democrat-led Congress are trying to quickly ram through another trillion-dollar spending  program to “reform” the US health care system. On the Lou Dobbs program on CNN tonight, he cited statistics that the US health care system is already about twice as expensive as the health care systems of other civilized nations. The Obama proposals, which would make the US health care system even more expensive, hardly constitutes “reform.” One is tempted to wonder if anyone in Washington, DC is ever sober when they consider or vote on each new spending boondoggle. Reports that the Congress is voting on lengthy bills without even bothering to read them makes one fear for the future of our nation. Such irresponsible action makes one wonder who is really running the nation. If Congress doesn’t even read the bills it votes on, it has become a rubber-stamp for whoever it is who has seized the reigns of government from the US Congress.

Revelation 17-18 prophesy that the current global financial system called “Babylon the Great” will eventually collapse. It almost collapsed in September, 2008, so the fulfillment of this prophecy could be months or years ahead of us. The Bible gives us no dates about when this event will occur, but it is adamant that it will happen. Revelation 17:9-16 prophesies that 17 nations and/or global entities (“the seven heads and ten horns”) will cooperate in toppling the current global system of world finance. The lowering of the US Treasury Bond rating by a Brazilian rating agency is another sign that the fulfillment of Revelation 17-18 is drawing closer.

For more information on why the current system of global world finance is called “Babylon the Great” in the Bible, please read my article “What Kind of Captivity?” at the articles link at this website. After reading that article, you will see that the institutions of the modern global system began in ancient Babylon. That ancient Babylonian system has grown global in today’s world, hence the title “Babylon the Great” in Revelation 17-18’s prophecy. For a more thorough examination of the eventual prophesied collapse of the troubled global financial system, I invite you to read my article “Is Babylon the Great about to Fall…Ushering in a Global Beast System?”