Past posts at this blogsite have warned that the global financial system called “Babylon the Great” in Revelation 17-18 is heading for a collapse at some point in our latter day period. My past posts have also identified the US Federal Reserve Board, in particular, and the global central bank system, in general, as the beating hearts of Babylon the Great’s financial system. [See my article, What Kind of Captivity?, for detailed documentation that the world’s modern banking system began in ancient Babylon.]

Surprisingly, even the “establishment” media is now beginning to question not only the reckless money-creation actions of the Fed, but even the need for its existence! The first link, from the Wall Street Journal, is an editorial entitled “Why Do We Have a Central Bank?” It describes the Fed’s actions in the Great Depression as “disastrous,” and states that “central banking has been neither necessary nor sufficient for the development of a modern economy and financial system.” Did you ever think you would see such a statement in a Wall Street Journal editorial? It also cites the Fed’s critics who see it as “an unelected fiscal authority.”

The second link is a short YouTube interview with Ron Paul by another establishment media source, Bloomberg News. It also notes that, based on seniority, Rep. Paul is due to take over the chairmanship of the House Committee which oversees the Fed. It adds that the Big Banks are lobbying the GOP House leadership to deny Rep. Paul the chairmanship of that committee. No wonder! The Big Banks do not want their leading bank (the Fed is a private bank with a federal charter) investigated as that could lead to all kinds of counterparty shenanigans by the other Big Banks being revealed as well. If the House GOP leadership denies Rep. Paul the chairmanship of that committee, it could face a revolt within its own ranks by the large number of Tea Party sympathizers who will serve as GOP House members starting in January. Watch this outcome carefully. If the GOP House leaders refuse to give Ron Paul the chairmanship of that committee, it will be clear evidence that the House GOP leadership is serving as puppets (and defenders) of Babylon the Great.

The fact that establishment media sources are now openly criticizing and questioning the Fed may be a signal that the insiders have decided to eventually “pull the plug” on the Fed at some future point. Perhaps the Fed will take custody of all kinds of worthless “paper” and then collapse after its charter is removed by the US Congress. If that occurs, one wonders if all the bad investment paper, derivatives contracts, etc. in the Fed portfolio would simply disappear into a regulatory and statistical “black hole” when/if the Fed disappears. It also could be a windfall for the US Federal government. I’m no accountant, but if the Fed simply disappears, will all the debt owed to the Fed by the US Government simply disappear as well?

The US dollar has been the global reserve currency for many decades so the US dollar is currently the fiat currency of Babylon the Great’s global financial system. If the Fed falls, what happens to the US dollar? All of the paper money in your wallets are “Federal Reserve Notes.” Will any of them still function as “money” when/if the Fed goes out of existence? Will the US Treasury honor them temporarily while it replaces such notes with US Treasury dollar notes? Such an action may be an effort to prolong the dominance of Babylon the Great’s major currency or it could lead to the unraveling of global confidence in all fiat currencies. The final three links [3, 4, 5] reveal just how close the Euro currency is to either unraveling or being restructured to enable it to survive in a new form (my thanks to readers for sending two of these links). However it happens, at some point the global financial system as we have known it is going to collapse. Revelation 17-18 guarantees that outcome. We do not know when this will happen, but we can see more and more fractures appearing in the foundation of the current global financial system, so it is evident that this epochal prophesied event is drawing nearer.

Remember that when the current system collapses, Revelation 17:8-17 also reveals that the final “beast” system will replace it with a new global financial system (also discussed in Revelation 13:16-18). The vast majority of modern Christians are not ready for the global and personal disruptions that lie ahead of us. The complacent Christians of the western world are especially not ready for what is coming (as those who have read my new homepage article, A New Look at the Seven Churches of Revelation, have seen biblically documented). When Babylon the Great falls, it will hit the world (and all Christians too!) like a sudden financial/monetary equivalent of Hurricane Katrina. Are you making any preparations for this event? if not, I urge you to read my article, Should Christians Prepare for Future Hard Times?, available at the articles page of my website. Christians who think that they need not prepare for the future at all because they blithely assume “God will take care of them” will see in my article that they are on very shaky biblical ground.