We have just seen further evidence that the Eurozone financial/monetary crisis is hardly solved. Indeed, it is getting worse. It is also starting to cause collateral damage in the USA, which has plenty of financial/monetary problems of its own to deal with.

The first link, from the Washington Post, reports that several top American banks just have had their “viability ratings” downgraded by Fitch Ratings, one of the major rating agencies in the USA. The American banks downgraded were Goldman Sachs, Morgan Stanley and Bank of America. Other major banks in the UK, France, Switzerland, etc. were also downgraded. Fitch also had other blows to give to European sovereign nations regarding their debt ratings. Fitch lowered the credit ratings of six European nations, either by one or two notches and “placed the ratings of all investment grade rated eurozone sovereigns and their debt with Negative Outlook (emphasis added)” for the future (see second link). This means that further downgrades for European nations are likely. Fitch did have some qualifying positive things to say in the articles, but the credit downgrades speak the loudest. The six European nations whose credit ratings were downgraded are Belgium, Spain, Slovenia, Italy, Ireland and Cyprus. The third link reports on the same subject, but adds that Moody’s, another major ratings agency downgraded Belgium’s credit rating by two notches.

It seems that each time the Eurozone leaders declare their monetary crisis is resolved, the “solutions” quickly unravel. In a grim assessment of the global financial/monetary system’s crisis, the IMF’s head, Christine LaGarde, warned in the last link that “the world economic outlook…is quite gloomy,” and that “there is no economy in the world…that will be immune to the crisis that we see not only unfolding but escalating” (emphasis added). There you have it. Ignore the “happy talk” from the talking heads who claim on media programs that everything is under control, that there is no danger of a double-dip recession, etc. The head of the IMF says “every economy” (that includes the USA) will be affected in the future by the global financial crisis which is not only “unfolding,” but also “escalating.” In other words, the IMF leader warns we should all expect things to get worse in all nations. The year 2012 could prove to be much more interesting than any of us want it to be.

As my posts to this blog have warned for years, Revelation 17-18 warn that the global financial/monetary system of the latter days called “Babylon the Great” will experience a global collapse and be replaced by the “beast’s” global economic/monetary system which will be the final world system on the planet before Jesus Christ returns. Revelation 17 warns that “seven heads and ten horns” will lead the revolt against Babylon the Great’s global dominance and overthrow it. Babylon the Great’s beating heart is the US Federal Reserve Board and such Wall Street banks as Goldman Sachs, Morgan Stanley, etc. The USA is the “headquarters” of Babylon the Great’s system because the US dollar is the current global reserve currency…at least for a awhile yet. Seven heads and ten horns adds up to “17 entities” of some kind. Perhaps it is of imminent prophetic significance that the Eurozone has 17 nations in it who are getting increasingly angry at the global dominance of the US dollar and the shenanigans of Wall Street in recent years.

Revelation 13 reveals the “beast” global system which will replace the current global financial system, will have only 42 months to exist before it is itself overthrown (verse 5). Revelation 19:11-21 reveals that it is the return of Jesus Christ, the Son of God, which overthrows the beast system, and Jesus Christ will return at the head of a heavenly army of luminous beings (resurrected saints and righteous angels) to annihilate all human armies which oppose his return (Revelation 19:19-21). The beast system may very well have “luminous beings” of its own unveil themselves as allies of the beast system. These initial “luminous beings” will actually be demons manifesting as “light-bringers” or “light-bearers” to enlighten mankind about its cosmic destiny (or some such other grandiose, but cleverly-deceitful terminology).

You can do the math. When the current system collapses, it will eventually be replaced by a new global system called the “beast” system. About 42 months later, Jesus Christ’s return is scheduled to occur. Given that the current economic/monetary system is showing ever-more signs of the global stresses which will eventually lead to its collapse, we may not have many more years left for mankind to miserably misgovern the earth before Jesus Christ returns to become king of all nations and assign lesser positions to his resurrected saints (Revelation 20:4). From my point of view, the sooner he returns the better!

For in-depth material on this subject, I recommend you read these free articles: What Kind of “Captivity?” which explains the Babylonian origin of the modern banking system and why the Bible calls our modern economic system “Babylon the Great”, and Is “Babylon the Great” about to fall…Ushering in a Global Beast System?