There are many indications that the global financial crisis is getting worse, and that it is heading for an epic crisis in the future. The links below have been accumulating in my burgeoning files, and it is time to share a number of them in this blog. Some links have been sent by readers.
The first link reveals how the German people have soured on the EURO currency due to the Greek sovereign debt crisis. A strong majority want to scrap the EURO and return to their German-based Deutschmark. If the Germans take such an action, the EURO (and perhaps the EU itself) could collapse. It seems more likely that there will be a realignment of the Eurozone with a new “core Euro” or “Northern Euro” emerging which will be much stronger than the current EURO which is being weighed down by the severe economic debt crisis that affects Greece, Spain, Italy, Portugal and Ireland. Great Britain also has severe sovereign debt problems too, but the new Tory coalition government with the Liberal Democrats is starting to implement some badly-needed austerity measures. The second and third links reveal just how fragile the current EURO has become. They note that not all EUROs are created equal. EURO currency notes are printed in a variety of nations, and the ones printed in the nations with severe debt problems are now being rejected or unloaded by citizens in the stronger European nations. German citizens are now rejecting EURO notes printed in some other nations, and there is a fear that EURO notes printed in the weak economic nations may lose their value entirely if the Eurozone essentially “kicks out” a number of nations with troubled or insolvent finances.
The fourth link offers a commentary on a recent report issued by the Bank of International Settlements (BIS). Few lay people known about this globalist bank, but it wields much power with little publicity. The BIS report itself is worded in banker jargon, but the article about the report translates its content into language we can all understand. The link states that the BIS report warns “The very fabric and the seams of the financial system are coming apart,” and it also warns about an “implosion of the current monetary system.”
The fifth link contains a very important fact that emerged at the recent G-20 Economic Summit in Canada. It reveals that Germany’s Prime Minister Angela Merkel successfully thwarted President Obama’s desire to engage in even wilder spending stimulus plans than Obama has already done. The G-20 nations adopted Germany’s position that governments need to adopt spending cuts to get their financial houses in order while Obama’s position was rejected. Merkel’s plan, in my opinion, is the obviously correct one, and other national leaders could see this fact too [Can we trade Obama and a first-round draft choice to Germany and get Merkel as our leader? Hey, if Obama doesn’t need a proven birth certificate to be the USA’s President, maybe Merkel can be President without one as well. Just kidding—or was I?] The fact that Obama’s wild-spending proposals were rejected at the G-20 Summit also indicates that the rest of the world sees Obama as a lightweight with no real gravitas on the world scene. As long as Obama is President, it appears to me that the USA will carry much less weight in global geopolitics.
Russia is steadily buying up a large supply of gold on the world market (see sixth link). Other nations such as China have reportedly also been doing the same thing, and media reports months ago reported that Hong Kong and other nations were yanking their gold reserves out of storage vaults in London to repatriate their gold reserves. These types of actions are indicative that more nations are fearful of a global melt-down in the world currency system, and they want gold as a back-up to the increasingly debauched fiat currencies of the modern world. The seventh link has a hint in it that a new EURO issued by the stronger European nations would be backed by “hard assets.” (which is code for gold). The eighth link reports on a surprising development which I’ll bet readers have not seen reported in their favorite American media. The link reports that “A new UN report…calls for the abandonment of the US dollar as the main global reserve currency.” That’s serious stuff, folks. Even the UN is urging the world to drop the US dollar as a global reserve currency! If (and when) this happens, Americans are in for a very rude awakening that the reckless fiscal policies of recent and current US Presidents (GOP and Democrat) and Congresses (GOP-led and Democrat-led) will cause economic hardships for American citizens that will make the recession to date look like good times by comparison.
The ninth link, from the respected Money and Markets report, warns that “Double-Dip Recession Warning Signs are Everywhere.” You likely haven’t heard this warning from the establishment media sources that are little more than Wall Street’s cheerleading section. The report cites a precipitous 33% drop in US new home sales, a drop in US durable goods sales and another precipitous drop in US consumer confidence levels from 62.9% in May to 52.9% in June. No doubt, these figures reflect the end of the new home sales incentives subsidized by the federal government. That is significant, because if the US economy was really rebounding, it would be gaining strength on its own and it would not need government stimulus programs. The fact that the economic statistics tanked as soon as the stimulus program ended indicates that the US economy is like a critical patient in the ER in a hospital—as soon as “life support” measures are withdrawn, the “patient” goes downhill fast. If you have not read my article, Should Christians Prepare for Future Hard Times?, available at the articles link at this website, you owe it to yourself to read it soon.
All the above information indicates that we are heading for a national and international financial/monetary crisis and realignment of historic proportions. This is exactly what biblical prophecy said would occur in Revelation 17-18. It prophecies that the current globalist economic system (called Babylon the Great or the Great Whore in these chapters) controlled by, and for the benefit of, an inner circle of global merchants and their governmental allies (Revelation 18:3) is doomed to take a very hard fall in the latter days (Revelation 17:16) a few years before Jesus Christ returns to set up his Global Kingdom. This is certain to occur as the Creator God who inspired the Bible has decreed it, and he controls national destinies. The only question is when it will occur. The warning signs are flashing all over that this collapse is drawing ever closer. It almost occurred in September, 2008. When the collapse occurs, it will lead to a new global economic system that will become the Beast system prophesied in Revelation 13 and Revelation 17:9-12. There is a question whether it will be a quick, seamless transition or whether there will be a period of global chaos before the beast system emerges to make the “global trains run on time.” My guess is that there will be a period of global chaos in order to motivate the nations to yield some sovereign powers to a global beast government for the sake of global order (Revelation 17:12). When this event happens, Believers should take heart (!) as it means the return of Jesus Christ is near as the beast power has only “42 months” to reign before Jesus Christ comes at the head of an unimaginably resplendent and openly-visible angelic army to destroy the beast government and set up the saints as rulers over all nations (Revelation 19:11-21, 20:1-4). May that event be hastened!