Moody’s, a top-tier credit-rating agency has warned that the United States of America may lose its AAA credit rating unless it mends its fiscal waywardness very quickly (see first link below). This is an extremely-important story, but the establishment media is largely keeping this growing risk from the American people. If the USA’s credit rating is downgraded, it will have immediate and negative effects on the U.S. economy, U.S. consumers and the ability of the government to finance and/or hide the true extent of its debt woes, etc.
The article warns that the USA “is drawing closer to the kind of debt crisis plaguing some European countries.” Moody’s warns that “the U.S. could lose its gold-plated AAA credit rating in coming years unless it quickly puts into place plans to curb budget deficits of more than #1 trillion…(emphasis added).” This statement is somewhat weasel-worded. It says the loss of the top credit rating could come “in years,” but it also warns that it will happen unless major spending cuts are put into place “quickly” (which implies the loss of the AAA rating could come sooner than a few years from now). To highlight the severe threat posed to the nation by the profligate spending of President Obama and the current Congress, former U.S. Senator Pete Domenici warned that “we risk undermining U.S. economic strength and becoming a second-rate power” [due to high debt levels]. Many readers know the nation of Iceland went into fiscal insolvency. The article adds that Ireland and Japan have lost their AAA credit ratings already and that Greece, Portugal and Italy “have faced similar or worse pressures.” Spain and the United Kingdom are also named as nations at risk financially in some reports.
How bad is the European financial crisis? Although Germany is leading a rescue effort to salvage the nation of Greece from economic collapse, a leading French bank has just warned that the Euro currency is risking “an inevitable break-up” and that “the Euro could be headed for total collapse” (see second link below). That such a warning could be issued by France, one of the major nations in the Eurozone is very striking. This warning was countered by a high official in the British government, who likely acted to try and stem momentum toward a Eurozone meltdown. Another source in Brussels echoed the French warning and said the Euro system was “flawed…from the very beginning.”
The cracks in the foundation underpinning the modern globalist financial system of “Babylon the Great” are getting wider and harder to conceal. It is not just the Euro and U.S. dollar that are in trouble. It would appear that all fiat currencies are at risk as nations drown in unserviceable sovereign debts. The third link reports that the IMF is loaning billions to many nations to help keep them afloat. The list at this link includes Belgium, Malta, Slovakia, Japan, Spain, the Netherlands, France, Denmark, etc. This is another clear indication that the entire global financial system is creaking under the weight of impossible levels of debt.
The USA is showing new stresses as well in its financial system. Thirty senators voted against Ben Bernanke’s confirmation to another term of Chairman of the Federal Reserve Board. Such a high level of formal opposition is unusual in such nomination votes, and it signals a growing Congressional distrust of the Fed. The House already has enough co-sponsors of Rep. Ron Paul’s bill to audit the Fed to pass it easily it on the House floor. You can be sure the Fed is very afraid of this bill and will do everything it can to prevent an audit which would allow the Congress to know the hidden deals and activities the Fed has been involved in for decades.
There is an old adage that says: “Don’t believe anything until it has been officially denied.” Well, the danger of the U.S. losing its AAA rating has just been “officially denied.” The fourth link below reports that U.S. Treasury Secretary Tim Geithner has just declared that the loss of the AAA credit rating is something that will “never happen to this country.” Based on the wisdom of that old adage, it would appear inevitable that it is only a matter of time until the U.S. government loses its AAA rating. The warning from Moody’s all but guarantees that it is only a matter of time until this happens because there isn’t the slightest bit of evidence that the Obama administration or the current Congress will abandon their policies of financial profligacy and return to stable fiscal policies.
These trends are fulfilling Bible prophecy for the latter days. Revelation 17 and 18 foretell that the end-time global financial/monetary/commercial system will collapse at some point, resulting in a period of instability of indeterminate length before a “beast” system imposes a new global system to replace the one that collapsed. The current global system of “Babylon the Great” is based on fiat currencies and central banks. Since the USA has the global reserve currency (the U.S. dollar), the U.S. Federal Reserve Board is the beating heart of the modern system of Babylon the Great. Revelation 17-18 prophesy the entire current system will someday collapse like a house of cards. I do not know the year that this will occur, but it clear that the current global financial system is coming under ever-greater pressure. With each passing year, we are getting closer to the fulfillment of the prophesies of Revelation 17-18. When this happens, we will experience major national traumas and Christians/believers will know that we are very close to the end of this age.