Many consumers in the world are currently benefiting from lower oil and gas prices, but they are, in my opinion, mostly unaware of a titanic struggle that is occurring in the world’s financial and commodity markets for global dominance. The two major rivals are the US Federal Reserve Board and its many Wall Street/Big Business allies around the world. On the other side are Russia and China and their growing number of allies, who are slowly taking steps to replace the global dominance of the US Fed, Wall Street, etc. The Bible’s book of Revelation foretold approximately 2000 years ago that this very struggle would occur in the latter days of our current age. As long-time readers know, Revelation 17-18 symbolically identifies the bloc led by the US Federal Reserve Board, Wall Street and its allies as “Babylon the Great” (and also as “The Great Whore”). This is the bloc which has controlled global commerce and monetary matters since World War II. The same bloc also dominated global commerce, finance and monetary matters prior to World War II, but it was then dominated more by the British Empire and the Bank of England. The global bloc which is rising to challenge the dominance of the US Fed-led bloc is called “the seven heads and ten horns,” and the Bible prophesies that the “seven heads and ten horns” bloc will eventually win this struggle and overturn the dominance of the US Fed and its allies. The Bible does not predict when this will occur, and neither do I. What we are seeing is ever-more evidence that this titanic struggle is now already occurring, but mostly away from public view.

I’m sure all readers are following the global drop in oil prices which is also causing ripple effects in pulling down many commodity and precious and base metals markets around the world. Clearly, the USA, Saudi Arabia and others are currently targeting the rulership of Vladimir Putin of Russia as well as Russia itself. The first link examines this struggle and quotes Russia’s foreign minister as saying on French TV that “the sanctions [vs. Russia] were intended to end Putin’s regime.” He is likely right. The article’s analysis also warns that backing Russia into a corner could backfire as Russia may simply renege on its foreign debt obligations. This would leave many western banks “holding the bag” and suffering large losses. It may be that Putin, if he chooses that course of action, will announce to the world that OPEC, the USA, etc. forced him into taking this action and the world should blame OPEC and the USA for Russia’s actions. If Russia is forced into renouncing its foreign debt, some major western banks may have solvency problems and this could cause a crisis in the West’s banking system. A domino effect, cascading wave of failures isn’t impossible if this action leads to major traumas and collapses in the derivatives positions of major money-center banks.

The second link attempts to analyze who the winners and losers are in the current global crisis caused by falling oil prices. I agree with most of its analysis, but the lower oil prices will become a long-term threat to the USA’s entire oil/energy sector if they continue too long. At some point, if prolonged oil prices continue to drop, the USA’s North Dakota oil boom and fracking revolution which have jointly set the USA on the road to energy independence, will both be jeopardized (as the article alludes to). Many American jobs could disappear, many stocks will plummet on the US stock exchanges and a new American recession could be triggered. In the short term, American and western consumers will love the lower gas prices, but that will not last indefinitely.

The last link was sent to me by a reader and I thank him for drawing it to my attention. It offers an excellent analysis of one aspect of the global financial struggle between the two rival blocs which has not been mentioned on global media outlets, but which I think is central to this struggle. The link has several embedded links which are very worthy of your time to open and review as they give expanded analysis of this behind-the-scenes struggle. As a synopsis, the link reports that China, India, Iran and Turkey are some of Russia’s allies in this struggle. I suggest that other major minerals and commodity producers such as Brazil, South Africa, Canada, Australia, and many Latin American, African and Asian nations want the oil price to go up so the prices of their own exported commodities and minerals go back to normal prices as well. The major global financial struggle examined in the last link is the effort by Russia and China to set up a separate and rival clearance center for global banking and trading transactions. Currently, these transactions flow through (and are therefore controlled by) the SWIFT system which is part of the current Babylon the Great system. The links in this article report that Russia had intended to set up a rival global clearinghouse of such transactions in December, but those plans were put on hold by the sudden drop of oil prices (and the Russian ruble). Most interestingly, in light of the thwarted Russian plans for such a rival global exchange, China has invited Russia to participate in a new such global exchange to be opened in Hong Kong–Chinese territory. The link blames the USA for creating the Ukrainian crisis with Russia by overthrowing the elected (and pro-Russian) government of Ukraine and installing a pro-Western regime in a coup. If so, Russia’s Putin took advantage of the situation and seized the Crimea and effective control over several eastern Ukrainian provinces. I’m sure Putin is looking for ways to maneuver this current oil price crisis to his advantage as well. Setting up a rival currency-payments system in Hong Kong would gradually wrest control of global trade from the current Babylon the Great system. I also think that President Obama’s sudden effort to establish diplomatic relations with long-time Russian ally, Cuba, is not a mere coincidence. This is likely an attempt to draw Cuba out of the Russian orbit and transfer it into a new American dependency.

Interestingly, the writer of the last link, Dr. Stephen Jones, refers to the bloc led by the US Fed, Wall Street, etc. as “the Babylonian oligarchs,” which indicates that we are in agreement on the identification of who constitutes “Babylon the Great” in the modern world. However, at the end of his analysis, he asserts that the decline of the modern “Babylonian” alliance will fulfill a prophecy in Jeremiah 19:11 that the city of Jerusalem will fall. I admit I have no idea where he attains to such a conclusion. That is a “leap of logic” in my view and considerably out of context from that prophecy’s proper time setting. Jeremiah prophesied about the impending fall of the ancient city of Jerusalem (and the kingdom of Judah) in his prophecies, which were written about three decades prior to the actual fall of Jerusalem in the sixth century BC at the hands of the ancient Babylonians. There is nothing in Jeremiah 19:11’s prophecy which hints at any latter-day application for that prophecy. Indeed, references to the human-sacrifice rituals of Baal-worship being practiced in ancient Judah at the time of Jeremiah’s prophecy convince me that Jeremiah 19:11’s prophecy was fulfilled in ancient times. However, the fulfillment of Revelation 17-18 is clearly a latter-day prophecy and its fulfillment is drawing nearer.

Ultimately, an alliance of nations and perhaps other non-state entities will form the “seven heads and ten horns” which God has decreed will tear down and collapse the global dominance of the current “Babylon the Great” bloc led by the US Federal Reserve Board, Wall Street and its allies. Babylon the Great’s alliance will not yield power without a titanic fight, and the current oil wars are just one more symptom of that major struggle now being fought mostly out of public sight.