Future Prophesies - the Stage is Set (Can Happen Any Day)
ONE WORLD (BABYLON) - CASHLESS ECONOMY
End Time Cashless Society
See also: Destruction of the United States
Then Leslie Manookian explained how that is going on and controlled demolition of both our political and economic systems through:
retention of power;
centralized control of businesses, assets, natural resources and elected and accountable leaders;
super richer elites and a surf class;
zero resources for citizens, the result of political and finance system; and,
why that is happening now in the US – because summarising the 2008/2009 financial crisis – explosion of US debt, US unfunded pension liability, 2019 [Repo] crisis and developing countries borrowed in dollars.
And in Europe it is kind of the same:
2008/2009 financial crisis;
did not write off bank debt;
European debt not consolidated;
European Central Bank owns more than 40% of European debt;
negative interest rates since 2014; and,
unfunded public pensions.
Well, debt cannot be kicked downhill [down the road] for longer. If you want to control people, you have to get rid of small employers. That’s why the small businesses are being destroyed and the Covid crisis was an excuse for that. At the same time, Pharma buys influence in medicine, politics and media.
How are they doing this? Through:
central bank digital currency, that is in the plans;
[ ] transitions;
universal basic income;
elimination of small and medium employers;
banking and big tech;
end of cash; and,
One of the reasons is to cover up the mismanagement.
Central Bank Digital Currency (CBDC)
Investment "Guru" Jeff Brown - Great Reset Watch: A Cashless Society is Coming - Matrix: The Beast System
The ANTICHRIST'S CASHLESS society is COMING!!!
Cashless Society, The ANTICHRIST'S coming world, and BIBLE PROPHECY!!! Countdown 2 Eternity
Economic Reset - Billy Crone (Lamb & Lion Conference)
Does a cashless society have anything to do with the end times?
It is often postulated that, in order for the Antichrist or the beast to control all buying and selling (Revelation 13:17), a cashless society will be necessary during the tribulation. As long as people are using cash, transactions can be completed in private, but, if all currency becomes electronic, then every transaction can be monitored.
Be that as it may, a cashless society is not necessary to fulfill the conditions of Revelation 13:17, nor does moving toward a cashless society indicate that “the end is near” for the following reasons:
1. The “end times” started with the resurrection and ascension of Jesus. We have been in the “end times” for the last 2,000 years. Paul describes his contemporary generation as those “on whom the culmination of the ages has come” (1 Corinthians 10:11). He warns Timothy of conditions in the last days as though Timothy will encounter them (2 Timothy 3:1–5). In Peter’s sermon on the Day of Pentecost, he identifies the pouring out of God’s Spirit upon believers as a sign of the last days (Acts 2:17). James 5:3 warns the rich that they are hoarding wealth in the last days, when they should be helping the poor. We are currently living in the end times, cash or no cash.
2. The conditions described in Revelation 13:17 existed in the first century, without a cashless society. In Asia Minor (the area of the seven churches to whom the book is addressed), if a tradesman wanted to practice his craft, he would have to be a member of a trade guild. Each guild had a patron deity, and, in order to be a member of the guild, the tradesman would have to participate in worship of the deity. If a Christian tradesman refused to worship the deity and join the guild, he was prohibited from practicing his trade and thus unable to earn a living, effectively preventing him from buying and selling. This is the background of Revelation 13:17. In modern communist countries, Christians have sometimes been blackballed. The authorities make it clear that no one is allowed to buy or sell to Christians, nor is anyone allowed to help them with donations. If Christian parents are incarcerated, no one is allowed to help their children. Other groups have been persecuted in this way, too; a cashless society is not needed to keep certain people from doing business.
3. Even in a cashless society, there will always be ways around the system. Barter of goods and services and the black market will always exist. Revelation 13:17 does not require that the beast maintain absolute control over every single transaction, only that the official policy forbids these transactions, making them illegal and punishable and therefore more difficult.
In the final analysis, a cashless society may make it easier for a totalitarian government to control its citizens. This is a fact of human existence and not necessarily linked to the “end times.” A cashless society is not an indicator that the Lord’s return is imminent, because believers of all ages have been warned and encouraged that the Lord may return at any time. This was true when no one had even imagined electronic transactions. The most that can be said is that every day that passes brings us one day closer to the Lord’s return.
Does the Bible prophesy a one-world government and a one-world currency in the end times?
The Bible does not use the phrase “one-world government” or “one-world currency” in referring to the end times. It does, however, provide ample evidence to enable us to draw the conclusion that both will exist under the rule of the Antichrist in the last days.
In his apocalyptic vision in the Book of Revelation, the Apostle John sees the “beast,” also called the Antichrist, rising out of the sea having seven heads and ten horns (Revelation 13:1). Combining this vision with Daniel’s similar one (Daniel 7:16-24), we can conclude that some sort of world system will be inaugurated by the beast, the most powerful “horn,” who will defeat the other nine and will begin to wage war against Christians. The ten-nation confederacy is also seen in Daniel’s image of the statue in Daniel 2:41-42, where he pictures the final world government consisting of ten entities represented by the ten toes of the statue. Whoever the ten are and however they come to power, Scripture is clear that the beast will either destroy them or reduce their power to nothing more than figureheads. In the end, they will do his bidding.
John goes on to describe the ruler of this vast empire as having power and great authority, given to him by Satan himself (Revelation 13:2), being followed by and receiving worship from “all the world” (13:3-4), and having authority over “every tribe, people, language and nation” (13:7). From this description, it is logical to assume that this person is the leader of a one-world government which is recognized as sovereign over all other governments. It’s hard to imagine how such diverse systems of government as are in power today would willingly subjugate themselves to a single ruler, and there are many theories on the subject. A logical conclusion is that the disasters and plagues described in Revelation as the seal and trumpet judgments (chapters 6-11) will be so devastating and create such a monumental global crisis that people will embrace anything and anyone who promises to give them relief.
Once entrenched in power, the beast (Antichrist) and the power behind him (Satan) will move to establish absolute control over all peoples of the earth to accomplish their true end, the worship Satan has been seeking ever since being thrown out of heaven (Isaiah 14:12-14). One way they will accomplish this is by controlling all commerce, and this is where the idea of a one-world currency comes in. Revelation 13:16-17 describes some sort of satanic mark which will be required in order to buy and sell. This means anyone who refuses the mark will be unable to buy food, clothing or other necessities of life. No doubt the vast majority of people in the world will succumb to the mark simply to survive. Again, verse 16 makes it clear that this will be a universal system of control where everyone, rich and poor, great and small, will bear the mark on their hand or forehead. There is a great deal of speculation as to how exactly this mark will be affixed, but the technologies that are available right now could accomplish it very easily.
Those who are left behind after the Rapture of the Church will be faced with an excruciating choice—accept the mark of the beast in order to survive or face starvation and horrific persecution by the Antichrist and his followers. But those who come to Christ during this time, those whose names are written in the Lamb’s book of life (Revelation 13:8), will choose to endure, even to martyrdom.
Does the Bible prophesy a one-world government and a one-world currency in the end times? - GotQuestions.org
In a cashless society, ‘the chip will replace YOU!’ – Lionel
RT America - Cashless future
The Coming Cashless Society
The Bible says a time will come when a global dictator requires everyone on earth to receive a mark on the right hand or the forehead (Revelation 13:16). Those without the mark won't be able to buy or sell anything (Revelation 13:17). For centuries, Christians have wondered how this will even be possible. But in recent years, the rise of advanced technology has given us a glimpse as to how it might occur.
New technologies have driven endless speculation about what the mark will be. Some think it will be an implantable microchip. Others think it will be a visible tattoo. Still others think it will involve bar codes or RFID chips. And on and on. The fact is, we don't know. And we won't know until the mark actually appears.
However, we can know this - the technology is here to make such a mark possible. To control every buy and sell transaction in the world, the Antichrist will need to set up a system capable of tracking every transaction. And thanks to modern technology, we can easily envision such a system. Much of the foundation for one is in place. Electronic payments are already a way of life, and they foreshadow the coming of a cashless society. In fact, not only is a cashless society possible - it's inevitable.
The Future of Cash
For years, people have speculated as to how the Antichrist will exercise the immense power of Revelation 13:17. How will he control every buy and sell transaction? Many transactions, such as the buying and selling of illicit drugs, are already illegal. Yet despite this, black markets for these products thrive. People regularly buy and sell drugs and other illegal products "under the radar," where the government rarely sees, much less has the power to control, what's bought and sold.
Cash is critical to these black markets. Almost everyone accepts cash as a form of payment, and it's hard to track where cash goes and what it's used for. But the ability to use cash to hide your activities, or simply remain anonymous, is coming to an end. Why? Because cash (currency and coins) will soon disappear. Don't doubt it. It's going to happen. And it has nothing to do with a government desire to get rid of cash. It's a foregone conclusion because cash will soon be worthless.
That's right. If you hold on to your cash long enough, it will be worthless. Why do I say this? Because soon, the government will be unable to control the supply of cash. In the near future, counterfeiting will become impossible to prevent. Advanced technology ensures it.
In a world of new technologies where every molecule can be perfectly positioned, it won't be possible to stop counterfeiters. They'll be able to create exact replicas of every national currency. And when that happens, the world will be flooded with fake money - worthless fake money. And since no one will be able to tell the difference between the fake cash and the real cash, both will be worthless. In such a world, the only way to prevent counterfeiting will be some form of electronic tracking of cash. An electronic means to verify the authenticity of a cash note. But if you're using electronic tracking devices within cash, why bother to make physical currency at all? Why not just make all transactions electronic?
The Current Situation
Essentially, that's what we're seeing now. The majority of buy and sell transactions are electronic. Think about your daily routine. Whether it's the coffee shop, the grocery store, or Walmart, how do the people around you pay for what they're buying? If you take the time to look, I bet you'll see a lot of credit and debit cards - maybe even a mobile phone payment. According to a 2016 Gallup survey, only 24% of Americans make all or most of their payments with cash. And the younger you are, the less likely you are to use any cash. In the United States, cash is becoming obsolete.
Nevertheless, according to MasterCard Advisors, 85% of global payments are still made with cash. How will the Antichrist be able to control those transactions? He'll be able to control them, because the situation will quickly change. Take India for example. In late 2016, the Indian government announced a crackdown on tax evasion, black market goods, and counterfeiting. All existing 500 and 1,000 rupee notes would soon become worthless. Citizens needed to exchange them within a short timeframe for new 500 and 2,000 rupee notes. The result? No one wanted to accept the old notes as payment, so electronic transactions skyrocketed. According to The Wall Street Journal, mobile wallet payments jumped 104% in India between October 2016 and February 2017.
But while electronic payments are more efficient and convenient, they also create a problem. You can't hide them from the government. While this is good in some ways (catching criminals), it's terrible in others (government invasion of privacy). Without proper safeguards, governments will have the unprecedented power to monitor every buy and sell transaction you make. This is nothing new. For those of us who already use electronic payments for nearly everything, this is already the case. But in the future cashless society, you won't have a choice.
So why does any of this matter? Because of this... At some point in the near future, the Antichrist will seize power. When he does, a global electronic payment system will already exist. While it remains to be seen how he will control every buy and sell transaction, the stage is being set. Convenience has already led to most transactions going electronic. And soon, new technologies will make all paper currency obsolete. This will eventually create a situation where a global government could monitor and control every economic transaction on earth. Such a system has never existed in the nearly 2,000 years since the Book of Revelation said the Antichrist would control all buy and sell transactions (Revelation 13:17). In fact, such a system was impossible for all of those nearly 2,000 years. But today? Today is different. We see the groundwork for such a system coming into place. It's yet another sign of the soon return of Jesus Christ.
Global Debt Oppression Prophesied: Part I :: By Wilfred Hahn
What came first—money or debt? Most anthropologists claim that money came first. As mankind became more sophisticated and “advanced,” money was invented. So go their theories, further adding that mankind originally was comprised of “hunter-gatherer societies” that had no use for money. Such views are not Biblical.
What came first? Without a doubt, debt.
While there is no Biblical record of Adam having either borrowed or lent money, it can nevertheless be said that everyone is born with an innate sense of debt. From the beginning, we owe our Creator (this being called primordial debt). Mankind naturally has a sense of what others may owe to them. We all keep a private register in our minds as to who owes what.
So, it is not surprising that Assyriologists (these being anthropologists that study ancient Middle Eastern history) discovered that complex credit/debt systems existed well before the invention of money.
The topic of debt imbalances is, therefore, an old one. Living in a world of Mammon—the world of Money—and given the ingrained human proclivity to pursue riches and money, the topic of debt is a crucial one. It plays a key role in the cosmological story of mankind. It is, therefore, also a key topic of Bible prophecy.
In this two-part series, we will lay out the case as to why debt is a “ripening sign” of prophetic significance.
New Concepts of Debt in the Modern Era
An astounding philosophy is sweeping the world at this time. Global policymakers have found reason to want worldwide debt to soar. Actually, they are actively urging governments, corporations, and households to increase debts all at the same time … virtually without abandon. We would say that these policies are both desperate and risible, were it not for the coming tragic consequences and nefarious agendas.
We have many times written about the new wave of policymakers who are promoting what has been dubbed “Modern Monetary Theory” (MMT). It is gaining many adherents these days. (The most recent article on this topic was published in the October 2019 issue of MCM under the title, “Prophecy and Future Cash Flow: The World Economic Saga.”)
What is MMT? Actually, it is not a new idea nor a sophisticated one.
The biggest motivating idea behind MMT is the more people spend and consume with debt (whether consumer, corporate, government), the stronger will be the economy, household earnings, and corporate profits. It is even suggested that debt issued by governments (and bought by the central bank with fiat money) can be permanent … without harm and never to be repaid.
Anyone with a bit of common sense will see through the MMT gambit right away. The whole program requires massive issuance of new debt and massive increases in government deficits. Yes, in short, this is the new wisdom according to its promoters.
Will this tactic of pump-priming economic growth work? For one, say the experts, the funds being borrowed will have a powerful impact upon spending. Second, there is no need to worry about soaring debts these days because interest rates are very, very low, and population growth is flagging worldwide.
The usual side-effect of such reckless policies is rising inflation (possibly explosively). However, here we are told that this is not a serious risk. Were there to be a virulent outbreak of inflation, we are assured that policymakers will be on guard.
However, we have reason to be skeptical. Many classical economists have warned just how deceitful and invasive is the nature of inflation. Its many manifestations are difficult to discern … if at all. The venerated economist Ludwig von Mises warned that inflation has all kinds of pernicious effects. It is like a chameleon.
As it is, economists have overlooked some of the biggest inflationary trends of all time. Consider the steep rise in the cost of retirement in recent years. Very few policymakers have recognized this to be a pernicious form of inflation. Yet, the proponents of MMT confidently coo and coax that they can foresee and forewarn of its dangers.
Admittedly, we have grossly simplified the nuances of MMT. Economists are still trying to agree on its common definitions. Nevertheless, the alluring core of MMT’s supposed new wisdom is that high debts are not to be feared. Rather, they are beneficial … serving as a sort of economic savior for mankind.
In the face of criticism, MMT promoters make the case that debt increases are only intended for a short period of time. The massive debt hikes are being pitched as “temporary.” This reminds of a quip by the late Milton Friedman—a very influential economist: “Nothing is so permanent as a temporary government program.” The second reason has already been mentioned. We should not be troubled, apparently, because we can rely on wise policymakers to be on guard against any future harm.
Why this rapid shift in thinking? “There is no alternative” (TINA).
Consider that at the start of the Global Financial Crisis (GFC) 12 or so years ago, many economists were still of the opinion that debts must first decline before new economic recoveries could begin anew. That was the typical pattern observed in past centuries following financial crises. But, worryingly, this did not occur in the post-GFC period. Viewed on a worldwide scale, debt levels did not decline. So, what to do?
This predicament spurred policymakers to find a solution that we see today: The most politically enticing option to deal with problems is to defer them into the future. And so, debt is now soaring higher. Only a little more than a decade after the GFC, a completely opposite view is now being sanctioned and recommended by eminent economists.
As the situation exists now, with global debt levels already at all-time highs, the world finds itself reliant (addicted) upon continued borrowed economic growth. Why? Because there really is no possibility of reversal. The solutions to do so are much too unpalatable for politicians to carry out. And so, the world has entered upon a path of no return. This alone suggests prophetic significance: Today, there exists a world with record amounts of debt that is on an irreversible trajectory. Its final impact can only be of Biblical proportions, which aligns with Bible prophecy.
Can the MMT promoters instill any confidence? Would blind faith in their statements be warranted? One only needs to look at the track record of policymakers and central bankers over recent decades to answer this question. Was it not just a decade or so ago that the great Global Financial Crisis (GFC)—which ushered in the greatest economic recession since the 1930s—was blamed primarily upon over-indebtedness and the incompetence of macro-economists? How then do macro-economists and the promotion of even higher debt deserve any credibility today?
This revisionism of policies that is now underway reminds of a parallel situation: when Apostle Paul commented upon people’s preference: “[…] they will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears; And they […] shall be turned unto fables” (2 Timothy 4:3-4).
In a sense, the same is happening in the fields of public financial policy globally. People (including proverbial Wall Street) will favor any policy that slakes their desire for short-term profits, financial prosperity, and deferring problems to the future.
The economic lockdowns triggered by the massive, fear-driven hysterics surrounding the Covid-19 outbreak grease the slide into even more debt. Increases have literally mushroomed since Covid-19 came on the scene. Government fiscal deficits are blowing out, and central banks are expanding (inflating) their lending to levels no one would have imagined just a year ago.
According to estimates from S&P Global Ratings, total global outstanding debt—including that of governments, corporations and households—is to rise 10% to $200 trillion, peaking at 265% of gross domestic product (GDP) by 2020 year-end.
Can amounts this large be imagined? It will continue to rise rapidly as policymakers rampage ahead with MMT actions.
Debt: Reaping What Is Sown
We must collectively ask the following question: What will be the consequences of all the above-mentioned debt actions? Remarkably, very few of the promoters of MMT seem to acknowledge any serious dangers. This could not be more misleading.
First, one must recognize that for every lender, there is a borrower; for every creditor, a debtor; for every buyer, a seller. If debts are rising in a credit-based system, then so must also wealth (whether paper-based or tangible). For every person becoming more indebted, some other party is increasing its wealth.
Ultimately, therefore, high debt levels also produce a skewed wealth distribution … namely, the rich becoming richer. On the other hand, the poorer (those relatively poor) become more “captive” over time. These imbalances are already at extremes and will continue to widen. (See the articles in the MCM issues of August and September 2019, entitled “Ripening Times: An Endtime Wealth Explosion.”)
Prophetic Significance of Debt
We ask: Are these enormous debt developments that we see in the world today part of an end-time footprint … a “ripening” of the times? We must answer carefully, as prophetic interpretation down through the centuries has tended to be influenced by recency. Prophecy interpreters would often read their present era into the Bible.
Purely on the basis of simple logic, we have already concluded that the world’s debt imbalances are of “Biblical proportions.”
We will answer further: Based on the evidence, we are definitely convinced that mankind’s dealings with debt and credit have a cosmic timeline that will play (and are playing) a critical role in the Last Days.
If so, how close is the world to facing the economic and financial upheavals prophesied for the Last Days? Here we must provide a cautionary answer.
We can have no way of knowing the world’s exact position on this prophetic debt timeline. When mankind gives himself over to delusion, there is no telling just how severe and bizarre conditions might yet become. In addition: “[…] God sends them a powerful delusion so that they will believe the lie” (2 Thessalonians 2:11).
The Cosmic Timeline of Global Indebtedness
Is our era’s explosion in worldwide indebtedness of prophetic significance? We have said yes. However, we have yet to fully provide our reasoning.
To begin, we must recall a bit of history.
Living in our current pocket of time early in the 21st century, we may like to think that conditions of today have always existed. We might also believe that our current political economics are so much more enlightened than they were millennia ago. We, therefore, may imagine that the credit and debt dynamics of today have always been that way. But to believe this would be wrong.
Crucially, the basic creditor/debtor philosophies that dominate the current world system originated in the Roman Era. Indeed, much of the world today is modeled on Roman-based systems and philosophies.
Creditor relations were very different before that time.
In the Roman system, the creditor tended to come out on top. Roman laws protected the lender. Debtors were systemically oppressed in favor of the creditor.
When debts rise to such high levels that households become trapped and economies begin to falter, little relief is provided to the borrower. Eventually, a perpetual poor class would form.
But, as mentioned, this state of affairs did not exist from time immemorial. Indebtedness was handled very differently in earlier times. Whenever debts became unsustainable or oppressive, a debt forgiveness (Jubilee) would be announced by the ruler.
This is a new finding of great significance. Amazingly, Assyriologists in recent decades have discovered that debt forgiveness (also called a Clean Slate Law, debt amnesty, or Jubilee) was a normal practice in many societies before the Roman Era. Accounts from ancient Babylonia Akkadia, Sumer, Ur, and other Mid-East societies all mention debt jubilees.
This debt reduction policy, archaeologists have learned, was more the rule rather than the exception. This would not be the first time that a commonly held belief is discovered to be wrong, thanks to new archaeological discoveries.
In Part II of this series, we will prove why it is the Roman-based financial system that will be judged. Its growing global oppression is a ripening sign of prophetic significance.
Global Debt Oppression Prophesied: Part II :: By Wilfred Hahn
Over the decades, I have been to countless conferences (some of these prophecy conferences … others secular economics meetings) where at least one speaker will fire-up the audience with many charts showing soaring debts. A frequent representation has always been a picture showing stacks of $100 bills reaching the moon … and so on.
Catastrophe is always just around the corner according to these speakers … some even claiming that certain “insiders” have told them that a monetary collapse is just weeks away. But here we are, some half a century and more later, and outstanding debts are accelerating anew as perhaps never before in history.
These speakers (and we mean no personal harm when we say this) almost always miss the essential point. For one, we must not overlook that every penny of debt in the entire world is owned by someone or some entity somewhere. If debt is increasing overall (and we will not burden readers with reams of statistics), the heaping of wealth must also increase. Of course, there are many underlying processes at work that bring about such extreme wealth imbalances.
Why Was the Levitical System Needed?
Since time immemorial, there has always been a human tendency to produce a rich class. In part, it is the outcome of the innate human penchants (these being the greatest weaknesses of human beings) of the love of money and economic security. Wealth would heap itself up (see James 5).
Over time, left to its natural course, the majority of wealth will most always be held by a small minority. Here we again recall that debt imbalances almost always go hand in hand with the heaping up of wealth. Many economists overlook this flipside relationship, as mentioned.
Extreme debt levels lead to a destruction of benevolent governance, resulting in oligarchy and plutocracy. Why? Because, as already pointed out, the more debt that exists, the more concentrated wealth will become over time. The wealthy become wealthier.
There is a tendency then to become oppressors … not allowing the debt captivity of the populaces to be reversed. Arnold Toynbee was one of the very few modern economists who understood that the role of debt would lead to concentration of wealth. This is exactly the process unfolding today … worldwide.
Therefore, the emergence of an oppressive, entrenched rich class was always a threat to societies—to a greater or lesser extent. (Rest assured, this is not a diatribe against the rich. These are statements about natural, innate human behaviors.)
God commanded the Hebrews to follow the Levitical system … not one like the Roman system. Under the Levitical system, there still existed plenty of reward and opportunity for entrepreneurs and industrious workers.
Crucially, the Levitical laws prohibited (and prevented) chronic economic slavery and a perpetual poor class. We may call it the Ancient Monetary Theory. It stands in direct contrast to the new Modern Monetary Theory, as well as Roman philosophy, which upheld the sanctity of debt, not its cancellation.
Ancient Wisdom of Debt Forgiveness
In ancient agrarian societies, the burden of debt tended to expand until it exceeded the ability of the debtors to repay. One drought was often enough to force farmers into deep indebtedness. Often, they would need to borrow in order to pay their taxes. At the very least, farmers would need to buy their seed to be able to plant the next year’s crops.
Readers may be familiar with Hammurabi (who wrote the famous Code of Laws). He announced one or more debt Jubilees. (As an interesting time reference, he may actually have been a contemporary of Abraham of the Bible.) As part of a Jubilee (also referred to as a debt amnesty or clean slate), debts were written off or canceled.
Debt clean slates were a wise policy. It had a healthful impact on many households and overall economic activity. The rise of plutocrats (a super-rich class that dominated everything, including rulers) was held at bay by doing so.
The Levitical 7- and 50-year debt cycles of the Hebrews were very similar in effect. The Hebrews were mandated by God to flatten all debts every 7th and 50th year. In the latter cycle, labor contracts would be canceled, and property ownership would return to its original familial owners.
A leading researcher of Middle East cultures in this field has been Dr. Michael Hudson. His most recent book, …And Forgive Them Their Debts: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year (Dresden: ISLET-Verlag, 2018), lays out the history of these practices.
Of course, the status quo has not been quick to endorse his work. Much to the contrary. Why? Because, as mentioned, we today live in the Roman Era, which pursues a much more oppressive treatment of debt. The Roman-style creditor system is supreme and powerful today and has no intention of redistributing the wealth of its prosperous elites to the poor.
Given that the current-day systems are so entrenched and oppressive … holding captives … for this system to be overturned on earth requires a “deliverer.” Thankfully, the Bible says that there will be one such person.
That is the reason why the Lord Jesus Christ said, “The Spirit of the Lord is on me, because he has anointed me to proclaim good news to the poor. He has sent me to proclaim freedom for the prisoners and recovery of sight for the blind, to set the oppressed free, to proclaim the year of the Lord’s favor” (Luke 4:18-19; cf. Isaiah 61:1-2).
For the world systems, a great global Jubilee is prophesied, and it is identified with “the acceptable day of the Lord” (2 Corinthians 6:1-2).
Still Living in the Roman Era
There can be no doubt that we are still living in the Roman Era today. The Bible verifies this view. As such, it only follows that the creditor/debtor relations that prevail today are also of Roman origin.
According to the book of Revelation, the Roman Era is identified as the sixth king. We quote Apostle John, who said, “They are also seven kings. Five have fallen, one is, the other has not yet come; but when he does come, he must remain for only a little while” (Revelation 17:10).
The one “that is” (existing now) is most certainly the sixth and Roman king. Given the pace of acceleration in debt growth, however, we would not be surprised if the 7th king were at the very door. Whenever the rule of the 7th king emerges, it will be only for a short while. Clearly, it serves as a prelude to great disaster (The Great Tribulation).
Eight for Eight Reasons
We consider rising world indebtedness as one of the “signs of the ripening times.” In summary, what are the grounds for our case?
At the very beginning of this Ripening Times series, we laid out 8 qualifying criteria with which to screen end-time factors of significance. Above all, each “ripening” development must be supported Biblically. Crucially, the Bible does directly indicate that a worldwide debt explosion plays a key role in the Last Days. In addition, our screen of 7 other indicators also validates debt as a “ripening factor.” We will list them briefly.
Acceleration: Any “accelerating” trend, particularly so beginning after 1948 (this being the point in which God’s timepiece, Israel, again became a sovereign entity in its original land) and/or post 1880s (the beginning of Zionism). If the Lord sees fit to clearly alert us to such momentous time points in His plan, then we would be wise to expect other indicators to emerge as well.
Recency: While the “recency effect” (meaning that one tends to be biased by what is seen presently) is the bane of all secular forecasters and interpreters of Biblical signs alike, a “recently accelerating trend” is much more notable than one having begun a long time ago. Why? Because the Bible frequently tells us that last day events will come “quickly.” “The great day of the LORD is near—near and coming quickly” (Zephaniah 1:14). Pre-Rapture Christians should be able to discern increasing intensity in world affairs and the convergence of the signs of the times to final events.
Improbability: We find ourselves asking “why” regarding the unlikely emergence of a factor… and “why now and not at some other time in history.” Why would policymakers respond with policies that are directly contrary to historical knowledge? The very improbability and inexplicability of such emerging trends qualify as a possible sign.
Global Scope: Trends that have a worldwide influence (not just applying locally or to North America) are an indicative criterion… i.e., identifying them as a potential “significant” trend. After all, end-time Bible prophecy is global in scope. For example, the Tribulation … the world’s leaders conspiring to unshackle their chains (Psalm 2:3) … etc. are all global fulfillments. Therefore, we are particularly alert for “global” trends.
Interconnection: Any trend that has confluence or interconnection with another accelerating trend of “significance”—interweaving and reinforcing each other—likely qualifies as also being a “significant” trend. In this case, for example, global debt dynamics are interrelated to “heaping up of wealth” …another ripening sign of the times.
Suddenness: A tell-tale key identifying a “significant trend” is its suddenness and rapidity. The entire global rise of the credit/debtor situation that we witness today has unfolded in less than a century.
Godlessness: We have stated that significant “signs” are also likely to be in the service of Mammon, humanism, greed and immorality. It would not be incongruous if they cater to political and economic expediency. Godlessness is rife.
All seven characteristics validate an end-time debt explosion as a qualifying candidate trend of prophetic significance. While we will not want to engage in speculation on the near-term timing of the world’s debt explosion, we nevertheless can identify a clear-cut ripening trend of prophetic significance.
These “ripening signs” of the end times are indeed well underway, as we have shown in this series.
Points to Ponder
The Creator deliberately designed the universe to comprise dualities … good and bad, hot and cold … etc. But the major overriding duality of all consists of these two realms that oppose each other: God and Mammon. God created it as such that one must willingly continue (choose) to love Him completely.
It is not possible to love Mammon and to love God at the same time. And, God foreknew, of course, that Mammon—this being Satan’s realm of influence over humanity—would entirely mislead and corrupt the world. A Roman-style credit and debt system is a key part of this program.
Massive indebtedness is, therefore, a sign of the ripening times.
All of the above is not to say that God intended all to be equal … everything to be egalitarian. Far from it. The Bible recognizes that everyone has special giftings; that everyone is different. At the same time, people who do not work do not merit to eat: “[…] we gave you this rule: ‘The one who is unwilling to work shall not eat'” (2 Thessalonians 3:10).
It surely will not be overlooked that rising debt (in real and per capita terms) carries with it severe consequences “eventually.” The time point will arrive … as it must … where the debt piles implode upon themselves.
As the situation exists now, with global debt levels already at all-time highs, the world finds itself reliant (addicted) upon continued borrowed economic growth. Why? Because there really is no possibility of reversal. The world has embarked upon a path of no return. As we have said, this alone suggests prophetic significance: There exists today a record amount of debt globally, causing the world to be on an irreversible trajectory. Its final impact can only be of Biblical proportions, as described in Bible prophecy.
And, as we have shown, 8 of the 8 criteria that we use to confirm “ripening trends of prophetic significance” unanimously apply in the case of global indebtedness.
Complicating this situation is the fact that the world’s population continues to age. For now, these dynamics are contributing to elevated financial markets (for the short-term) … being deceptively and dangerously alluring. This delusive state of affairs could last some time yet because policymakers and individual citizens “want to believe.”
Why? “[…] Wickedness deceives those who are perishing. They perish because they refused to love the truth and so be saved” (2 Thessalonians 2:10). This is the aspect that many long-time “doom and gloom” forecasters have overlooked. While they may be correct in their theoretical diagnosis, they have failed to recognize the human capacity for self-deception. People will believe what they want to hear.
What is the Bible’s view on debt forgiveness? It is the same as with sin. Both are to be forgiven. Both sinners and debtors are captives. A great Jubilee is coming … a great resetting of the world’s systems. How wonderful are the words, “Forgive us our debts […]” (Matthew 6:12) to, “Forgive us our sins […]” (Luke 11:4)
End Time Economy :: by Howard Green
The Bible warns of a time when people will have to work an entire day just to have enough money to purchase a loaf of bread. It’s hard to imagine a time when our purchasing power will be diminished to the point of having to struggle just to be able to feed one person. Right now the economies of many nations seem to be stable despite a few crisis areas like Greece, Portugal, and others.
The notion that the economic condition of the world is fine right now is a false one. Regardless of what the Fed, the administration, or your personal financial portfolio communicates about the current economic situation…it won’t last. A time is coming when the dollar will collapse and the conditions will be set for a global economy under the control of the Antichrist. Let’s look at where we are now and what the Bible says about the end-times economy.
Revelation 6:5 “When he opened the third seal, I heard the third living creature say, ‘Come!’ And I looked, and behold, a black horse! And its rider had a pair of scales in his hand. And I heard what seemed to be a voice in the midst of the four living creatures, saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius, and do not harm the oil and wine!”
The current situation facing the US. economy is one of greed and illusion. The Fed continues to print money at a fevered pitch trying to revive the economy through quantitative easing (QE). The rationale is that by infusing enough “digital dollars” into the banking system, the economy will grow because borrowing, lending, and spending will increase. This “quick fix” hasn’t worked before and the end result is a larger federal deficit.
If people aren’t borrowing, buying, and selling…printing money and QE only adds massive debt. Washington has amassed so much debt and the number stands at 18.1 trillion dollars. Every day an average of 2.3 billion dollars is added. The current national debt parceled out to every US. citizen amounts to each of us being on the hook for $56,718.06.
The point I’m making is that this charade cannot continue much longer. The communist Chinese government, the Russians, India, and Brazil are very aware of our problems and there have been renewed calls for the replacement of the dollar as the world’s reserve currency. It’s hard to imagine the dollar being replaced by another currency as the world’s economic benchmark, but it could very well happen. It is possible to wake up one morning and see the dollar slide into a death spiral, stocks in a free fall, and hyper inflation…I believe it is.
James 5:1-6 “Come now, you rich, weep and howl for the miseries that are coming upon you. Your riches have rotted and your garments are moth-eaten. Your gold and silver have corroded, and their corrosion will be evidence against you and will eat your flesh like fire. You have laid up treasure in the last days.
Behold, the wages of the laborers who mowed your fields, which you kept back by fraud, are crying out against you, and the cries of the harvesters have reached the ears of the Lord of hosts. You have lived on the earth in luxury and in self-indulgence. You have fattened your hearts in a day of slaughter. You have condemned and murdered the righteous person. He does not resist you.”
The federal government is preparing for the possibility and aftermath of a sudden collapse of the economy. DHS, The Pentagon, FEMA, and other agencies have contingency plans in place. Here’s the thing, I know much has been written about a US or worldwide financial collapse. This can be an arena for sensationalism and over speculation.
On the other hand there is the other extreme of people burying their heads in the sand, ignoring the warnings, and proclaiming peace and safety regarding the solvency of the dollar. If we take the middle of the road view and look at current conditions, there is reason to believe we are indeed on the verge of dark financial times ahead.
People in the know are warning about a potential collapse of the US. economy. Breitbart News Network reports the following about
Senator Rand Paul and the demand for an audit of the Fed:
Senator Paul has said, “If the Fed was a normal bank without extraordinary powers, it would be insolvent.” Senator Paul notes that nearly 40 percent of the Fed’s liabilities are mortgage-backed securities and the question that needs to be asked is this: How many are distressed home loans?
The report continues and notes: “Once, the dollar was literally as good as gold and backed by the full faith and credit of the US. government. Since the panic of 2008…the dollar is backed by bad home loans, bad car loans, and derivatives.”
Jim Rickards is someone else in the know and he is sounding the alarm about the coming economic crisis. Rickards worked on Wall St. for 35 years, he is a regular financial commentator on media outlets, and author of the New York Times best seller Currency Wars.
Rickards has been called on to brief Congressional subcommittees about the economic situation. At a treasury meeting he said, “The Fed and the Treasury are the greatest threats to national security, not Al-qaeda.”
Rickards noted that in the 1950s and 60s, for every one dollar of debt, we realized $2.41 in growth measured in the GDP. Now for every dollar of US. debt, only .03 of growth is realized…and soon it will be in the negative. He said this debt to growth situation is a signal of a complex system about to collapse.
How will this economic crisis unfold? I don’t know. However, it’s a subject where speculation is rampant. Will the Chinese come calling and want the money they’ve loaned us to cover our debt? Will the recent volatility in the oil markets cause economic turmoil? It’s hard to say but, we witnessed the Russian Rubble drop 40 percent of its value in the last year due to the plunge in oil prices. The point is there are numerous conditions in play that could trigger a collapse of the US. and world’s economy.
Two other things need to be considered. First, we know that a collapse of the dollar would cause havoc on the world’s financial markets, but would the damage be limited and would the US. be the only major casualty? Second, if the collapse of the dollar sets in motion a global economic collapse, then what would the world’s “new economy” look like? I believe the second scenario is the most realistic, given the fact that the economies of the world are so interconnected.
What does this mean for the future, the world and for the believer in Jesus?
We know there is a time coming when this entire world’s economic structure will be under absolute control of the Antichrist. In fact, the Bible clearly states that this economy will be a religious – economic system. The final seven years of human history prior to the Second Coming of our Lord (The 70th week of Daniel) will be a time when the people of the world will have to choose between commerce or starvation.
Make no mistake about it…the choice is so much greater than simply deciding to partake in or opt out of modern commerce. It actually comes down to a system of worship. Either worship the world leader (Antichrist) as God and be able to buy, sell, feed your family, etc…or stand for Jesus and accept the consequences.
We don’t know if there will be a surge of the economic crisis, gradually peaking into a crescendo of problems that lead into a consolidation of the world economy under Antichrist or if the start of a one-world economic system will be sudden. The Bible clearly states that when this economy does exist, it will come down to taking the mark of the beast (Antichrist) on the right hand or forehead in order to participate in the market place.
Revelation 13:16 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Picture a person who has come to know Jesus as his or her Lord during this time of hell on earth. Perhaps they came to faith by the witness of one of the 144,000 Jews proclaiming the gospel or some other faithful witness. Regardless, here they are now perhaps with several mouths to feed at home, gas to buy, or a bank account they now cannot access because they refuse to renounce Christ and worship the world leader who claims to be God.
The ultimate destination of this current economic upheaval we are witnessing will eventually lead to the one world economic system under Antichrist.
It’s not my intention to get into the timing of the Rapture of the church although I do believe the church will not be here during the Great Tribulation and not endure ‘wrath on an unrepentant world. Here is the point I do want to make clear:
Right now…as you read this, there is a growing distain for Christians. This distain crosses socio-economic, political, and traditional barriers because the world hates who we are. We identify with Jesus as our Savior and in His own words, He warned us that the world will hate us too.
What does this have to do with the coming one world-global economic system? We are beginning to see consequences for taking a stand for our faith right now and it is a glimpse into what is coming on a global scale…and I believe it’s coming sooner than later.
Governments, prosecutors, and rogue judges are becoming increasingly hostile to people who are true Christians. Here is one recent example out of hundreds we could cover:
Barronelle Stutzman is the owner of Arlene’s Florist Shop in Washington state and she refused to make a flower arrangement for a gay couple’s “wedding.” The Attorney General has filed a lawsuit against Mrs. Stutzman and her business. She won’t make the flower arrangement because she believes as a Christian that “marriage is between a man and a woman.” She is facing heavy civil penalties, fines, and the forced closure of her business.
There are dozens if not hundreds of such cases involving Christians who own bakeries, photography studios, wedding venues, and others…they are facing the same harassment from the legal system. The bottom line is the only crime they are “guilty” of is practicing their Christian faith.
I don’t believe a Muslim owned business would face the same issues or have to deal with a legal system with an agenda…but I will address the issue of “tolerance” of everyone with the exception of Christians in a later article.
I firmly believe even before the Antichrist consolidates power, we are already seeing the spirit of Antichrist at work in the world right now.
Persecution, albeit limited to economic and legal harassment here in the West is already beginning. No matter what we face or how much suffering we must endure before the Rapture is in the hands of our Lord. As believers we will see increasing pressure to go with the flow, close our mouths about our faith, be politically correct, and tolerate everything or there will be a price to pay.
I want to encourage believers to stand firm in the faith, share the gospel, and live for Jesus because true security is found in Him alone. It is foolish to trust in wisdom of Man, the world system, and money.
This world will (not) continue on this path much longer. No one can say for certain when an economic collapse will come, but many analysts believe it is very near. In light of that I wanted to share a final thought on true security:
We should certainly be wise stewards of what the Lord has given us and be prudent about preparing for the safety and well being of our families. I’m not endorsing a survivalist mentality, nor am I endorsing an attitude of denial. We can see uncertain times and danger ahead and prepare accordingly.
Ultimately…our lives and the times are in God’s hands and no matter what, we belong to Him. Having our souls prepared for eternity is of utmost importance.
Proverbs 11:28 “Whoever trusts in his riches will fall, but the righteous will flourish like a green leaf.”
Matthew 6:19-21 “Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”
DESTROY THE CURRENT ECONOMIC SYSTEM
Looming Financial Collapse
Prophetic Perspectives #188 - Lamb & Lion Ministries
Inflation is much worse than we thought - Jim Cramer, CNBC
Here's what Democrats snuck into their "relief bill"
Gov. spending expert reports - NewsMax
Prepare for the Liberal Agenda - Rob Schmitt, NewsMax
Discussing Hyper Inflation, real Estate, Capitalism and Cryptocurrency - Rob McCoy and Mikey Taylor
Modern Monetary Theory -Rob McCoy
The "Transitory Hyperinflation" Catalyst
Rock Harbour Church Prophecy Update
Bank of America warns of HYPERINFLATION 'at the very least'
Glen Beck - Economy Update Part 1
A Geopolitical and Economic Crisis Is On the Horizon :: By Britt Gillette
If you listen to the mainstream media, you’ll hear a repeating narrative. You’ll hear we’re nearing the end of the pandemic. Just a few more “COVID jabs,” and restrictions will ease. Pent-up demand will explode throughout the world, and the global economy will be off and running. Record high stock markets, a hot housing market, and positive government economic data prove the economy is now roaring. That’s the belief. The pandemic is ending. The economy is growing. Everything is wonderful, and soon we’ll return to “normal.” That’s what’s happening, right?
I wish it were so, but a sober look at the global economy reveals a rough road ahead. Furthermore, the odds of global war haven’t been as high as they are now in decades. To see this is the case, you only need to look past the agenda-driven news headlines and focus on what’s really happening in the world.
The Broken Global Supply Chain
A year ago, many people warned the COVID shutdowns would have serious and lasting repercussions. Our modern economy runs on a complex just-in-time inventory and delivery system you can’t simply turn on and off. Global trade is geared toward efficiency, not resiliency. And when you shut down one node in a supply chain, the entire supply chain breaks.
What the global economy experienced last year was a lot like a high-speed car crash. Sometimes, you can wreck your car, get out, and walk away without a single scratch. Every outward sign indicates you survived the crash unscathed. But your outward appearance masks terrible life-threatening injuries. This is what happened in 2020. The media narrative says the economy is in full recovery. But most of the damage is hidden by trillions of dollars in government spending.
If you take a closer look, you’ll see the truth. The global economy is on life support, and nothing indicates this more than the broken global supply chain. When governments around the world shut down their economies and ordered citizens to stay home, it sparked a tectonic shift in demand. This shift in demand took place at the same time many businesses were shut down, restricting supplies of the very goods and services many people demanded. For example, demand for consumer toilet paper exploded when everyone was forced to stay home. Demand for commercial toilet paper (at offices, airports, restaurants, hotels, etc.) disappeared. Each type of toilet paper has a separate supply chain. Those chains weren’t created to be flexible. They couldn’t handle the unbalanced demand, and the result was easy to predict – widespread toilet paper shortages.
For similar reasons, we now see shortages of other products. For example, there’s now a global shortage of the semiconductor chips used in visual displays. This shortage is expected to last for the rest of the year, and the impact is widespread. Entire auto plants have ground to a halt because they lack this one component. Soon the shortage will spill over into other consumer products, such as laptops, tablets, phones, televisions, and video game consoles. As shortages in those products take hold, what ripple effects will they produce in the global economy? Compounding the problem, the ongoing chip shortage is now impacting the production of chip-making equipment itself, making the chip shortage even worse.
It’s not only semiconductors facing these supply chain woes. Other items are in short supply, such as:
And even Ketchup packets
The global supply chain is broken, and new disruptions could occur at any moment and make it worse. For example, when the cargo ship Ever Given became lodged in the Suez Canal last month, it blocked all traffic for six days. It’s estimated around 10% of global trade, including 7% of the world’s oil, travels through the Suez Canal. This only made the current situation worse. The impact on global shipping and supply chains will be felt for months. It’s the perfect illustration of the fragility of global supply chains. But a broken global supply chain isn’t the only problem.
Central Banks Have Blown Another Financial Bubble
The central bank response to the COVID crisis was swift and aggressive. All around the world, central banks lowered interest rates and purchased billions in bonds, all to prop up troubled businesses and prevent a financial collapse. While these measures prevented an immediate financial collapse, they further distorted the free market, giving rise to two simultaneous financial bubbles that make the global financial system even more fragile:
1) A Second Housing Bubble – According to Zillow, the past year has been the hottest year in real estate since 2007, with median sale prices in dozens of areas experiencing double-digit price increases. The reason? A combination of low rates, a moratorium on evictions and foreclosures, and in some cases, urban flight to suburban and rural areas. All these factors combined to create both a surge in demand for new and existing homes as well as a dwindling supply of listings.
The result is a housing market euphoria reminiscent of the 2002-2007 housing bubble. For instance, in January of this year, a 2,834 SF home in Toronto sold for $2,610,000 after two days on the market and 17 offers. This was $612,000 over the asking price. In Los Angeles, more than half the homes sold last month sold for more than their listing price. According to Redfin, March 2021 was the hottest month in housing history with a record high 42% of homes selling above their list price. Does this sound like a healthy, well-adjusted housing market? Or another giant housing bubble?
2) Another Stock Market Bubble – Since the March 2020 lows, the Dow is up 78%, the S&P 500 is up 81%, and the NASDAQ is up 104%. The rise in stocks since the March low is the third largest in 100 years. The only two times where the market performed better were July 1933 and March 1936 – both in the midst of the Great Depression. Just how overvalued is the stock market? The Buffet Indicator says very overvalued. Named for famed investor Warren Buffet, it measures the total market value of stocks relative to the nation’s economic output. At over 200%, the Buffet Indicator is at an all-time high right now – far higher than in 1929 and far higher than before the dot-com bubble burst. Does this sound like the ideal time to invest in stocks? Or the peak of a market mania?
Global Markets are Fragile
All bubbles eventually pop. The only question is when they’ll pop and what event will pop them. Because of the government policy response to COVID, the stock market is particularly vulnerable to collapse. And its collapse threatens the entire global financial system. Just how fragile is the system? In January, trading in a single stock almost caused a financial panic. While all the headlines at the time focused on the little guy vs. Wall Street, the big headline should have been that GameStop’s explosive stock price almost caused a meltdown of the global financial system. Not only did it destroy the hedge fund Melvin Capital, which had a heavy short position in GameStop, but it exposed brokerages like Robinhood, TD Ameritrade, and Charles Schwab to billions in potential losses if their customers couldn’t cover their margin debt.
For those who aren’t familiar, trading on margin means buying stocks with borrowed money. This enhances investor returns when the market is going up, but it can wipe investors out if the market goes down. Margin debt was a major factor in the 1929 stock market collapse, and now margin debt is making a comeback. As a percentage of real disposable income, margin debt is now higher than it’s been in more than 60 years. It’s higher than the dot-com bubble, and it’s higher than it was before the 1929 crash.
In March, Bill Hwang of Archegos Capital Management lost $20 billion in two days when he defaulted on borrowed funds he used to speculate in the stock market. Like the GameStop episode, this too could have caused a systemic collapse of the global financial system. It’s estimated Goldman Sachs, Morgan Stanley, Credit Suisse, Nomura, and other Wall Street players lost at least $30 billion. Their losses could have triggered a crisis in the more than $2 quadrillion derivatives market, bankrupting banks all over the world and destroying the global financial system. What’s most worrying is events like these are taking place when global markets are doing nothing but going straight up. What will happen when the market finally goes down?
Rumors of War Abound
Unfortunately, we’ve seen all this before. Shrinking global trade and collapsing markets were hallmarks of the 1930s. And so were regional conflicts and the rise of imperial powers. Germany, Italy, and Japan invaded neighboring nations in the 1930s. Totalitarianism swept across the globe. Like the 1930s, we see similar developments today.
Today’s headlines tell of wars and rumors of war. For example, China recently flew more than 20 warplanes over Taiwan’s airspace. They also threatened the Philippines, anchoring several hundred ships near a Philippine reef in the South China Sea. Meanwhile, the United States and Russia threaten to go to war over Ukraine, and Israel and Iran threaten to go to war over Iran’s nuclear program. Wars and violent conflict are nothing new. But frequent high-stakes confrontations between nuclear powers are new to the post-Cold War era. Like the Cuban Missile Crisis and other Cold War moments of brinksmanship, any one of these situations could suddenly escalate into World War III.
These are Dangerous Times
Despite media attempts to assure us all is well, these are dangerous times. A single bankruptcy, and global markets could collapse like a house of cards. One wrong decision, and superpowers could unleash a global war. Like 1914 and 1939, the world is on the eve of a new world order. The stage is set for a global economic crisis. International land disputes could trigger all-out war at a moment’s notice. It’s not a matter of if these events will happen; it’s only a matter of when. When they happen and the dust of war settles, the world will look different. The global power structure will be nothing like what we see today.
None of this should surprise you. The Bible says these same conditions will be present just before the Antichrist comes to power. The Bible says World War III (Revelation 6:4) and economic collapse (Revelation 6:5-6) will precede the rise of the Antichrist’s global empire (Revelation 13:7). Reading today’s headlines, it’s clear we’re drawing closer and closer to the events of the Tribulation. We’re in the midst of a global pandemic (Luke 21:11). Israel is back in the land (Jeremiah 23:7-8). The Jewish people are back in Jerusalem (Luke 21:24-28). And the Gospel is being preached throughout the world (Matthew 24:14). The end times approach. This means the rapture also draws near. So don’t despair; Jesus is coming soon!
Britt Gillette is author of the free ebook Coming to Jesus as well as the books Signs of the Second Coming, Racing Toward Armageddon, and The End Times. Receive his book 7 Signs of the End Times for free when you sign up for his monthly newsletter.
Top economist says ‘We’re about to abandon traditional system of money’ and not a single U.S. politician is talking about it: Why?
Could it be the same reason none want to talk about digital passports and killer injections?
Since I posted the article on March 30 about Pippa Malmgren’s bombshell statement at the World Government Summit on the coming global digital money system, I have been inundated with emails from worried readers.
They want to know what they should do to protect their assets in the face of such a dramatic change.
I have not been able to respond to all these emails so I will respond here. Ideally, these emails should be directed to your representatives in Congress, who actually have the ability to stop or slow down the rush toward a digital currency.
But instead, our senators and representatives, even those on the House and Senate banking and financial oversight committees, have remained silent on this issue.
I am not a professional investment adviser, so take this for what it’s worth.
Get out of debt.
Get large holdings of cash out of the banking system and only keep as much in there that you need to pay bills. In other words, do not use the banking system as a warehouse for your life’s savings.
Invest in hard assets that you can see and touch such as land, houses and precious metals, storable food, a good water purification system.
If there are any big ticket or even smaller items that you know you will need a year or two down the road, consider making those purchases now. Whether it’s a new vehicle or a pair of shoes, if you have the means to purchase those items now, then do it.
Start preparing now for a life off the grid without your cellphone.
Stop giving your money to useless Washington politicians just because some other useless politician told you to support them.
It should be evident by now that politicians are quickly becoming obsolete. They do not address key issues and don’t even like to talk about them until it’s too late. Even if they mean well and make nice-sounding promises, their authority has been neutered.
At this point, the only way to save the country would be to shut down entire federal agencies like the ATF, FBI, EPA, HUD, HHS, CDC, IRS and the Departments of Education and Energy. As long as those agencies exist and continue to accumulate power, this nation is doomed. We have seen how they can literally write new laws without ever passing them through Congress. This is tyranny.
With the exception of a really solid candidate on the state or local level, stop giving money to Washington politicians and take that money and invest it into individuals or groups that are actually telling the truth of what’s happening, waking people up, instructing in the appropriate actions to take.
One group I have donated to is Citizens for Free Speech headed by Patrick Wood.
“We are trying to tell people they need to fight for policy changes where they live,” Wood told me. “This whole operation over the last two years was meant to divide, isolate, and destroy your social skills. It’s time to reconnect with your neighbors and community.”
Everything we see on the news, all of the fear porn about war and famine, pandemics and cyber attacks, is designed to push us closer to the beast system spoken of in Revelation 13.
The Davos elites who attend meetings at the World Economic Forum, the World Government Summit and various U.N. working groups tell us they want to change the world. The question our politicians should be asking is, who are these people and what are the implications of the changes they are trying to force down our throats? What gives someone like Bill Gates or Mark Zuckerberg the right to dictate change since they were not elected by anybody?
For anyone paying attention, it’s become obvious what these globalist elites want to see implemented: Digital global money. Digital global IDs for all people. Continuous injections of DNA-altering “vaccines” for all people.
Why aren’t the politicians talking about this?
What more do they need to hear before they start to get curious?
Dr. Pippa Malmgren told the World Government Summit that “we are on the brink of abandoning the traditional system of money and accounting and introducing a new one…it means digital, it means having an almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what is going on.”
This bombshell statement by Malmgren did not take place in a vacuum.
It took place at a time when at least 91 nations, according to the Atlantic Council, are developing digital, programmable currencies.
Joe Biden on March 9 issued an executive order demanding several federal agencies present him with a plan within 180 days for creating a new Fed-controlled digital dollar.
The plan is to drive these two fundamental transformations of society – digital money and digital IDs for all people – into place on the backs of a series of crises that will carry us straight into their one-world beast system. It’s a well-set trap.
These crises will continue to come in waves. If you look at what’s happening in China with the hard lockdown of its biggest city, Shanghai, it appears they are planning another “variant” to scare people into submission. Philadelphia on Monday became the first major U.S. city to reinstate its mask mandate. Dr. Fauci has been rolled back out to warn us that “Americans should be prepared for new Covid restrictions.”
The winds of war are blowing and the term “food rationing” is actually being uttered publicly for the first time since the Great Depression. Baby formula is already being rationed at Target, Walgreens, CVS and Kroger.
Bill Gates, Klaus Schwab, Biden and the rest of the Western puppet politicians are all suddenly talking about food shortages.
Between starvation and war, they will have the cover they need for the mass die off that the gene-therapy injections has already set in motion. If you don’t believe me, just check the numbers of all-cause mortality rates since the shots were introduced in 2021. They are off the charts for people aged 18 to 49 in the most vaccinated nations.
Once the transition to the beast system is complete, with nearly everyone accepting the QR code on their phones and later under their skin, the trap door will shut, leaving those inside without an escape route. They will be getting regular boosters which permanently alter their DNA.
If your DNA has been permanently altered are you still a member of the species known as homo sapiens? Comments and writings from WEF thinkers such as Klaus Schwab and Yuval Noah Harari indicate that you won’t be fully human but will be part of an all-new category of beings. In their eyes, you will be some kind of hybrid. A transhuman.
If you are no longer fully human, do you still qualify for the full slate of human rights? Will you have rights or will you just have privileges, depending on your social credit score? These are questions still in search of answers.
What we do know is this: The world has come under the spell of globalist technocrats and Luciferians who possess scientific knowledge that was not available 20 or 25 years ago. They have CRISPR gene editing and artificial intelligence at their disposal, making them more dangerous than the Nazi scientists. Those Nazi doctors did not have the ability to manipulate DNA sequences using A.I. and instruct the body to create synthetic spike proteins through mRNA injections. While equally evil, they were limited by their lack of understanding of these deeper mysteries of human physiology.
God will only allow this technology to be in the hands of these Luciferians for a short time. Satan knows his time to exploit these scientific discoveries is limited. That’s why things are moving so fast, and are likely to speed up even more.
As I stated in my March 22 article, we are in a calm before the storm. They are giving us a reprieve in the run-up to the elections. Don’t be fooled. They’re gearing up for another round of chaos and nonstop fear-driven news cycles.
As Forbes reported on Feb. 24, the system is already in place. As of Feb. 24 no less than 21 states were “on board,” Forbes said, to implement the universally recognized QR Code system that will verify everybody’s vaccination status and “allow” us to travel and enter public places. Nearly half of these 21 states are solid-red Republican states which have already adopted or are planning to adopt the SMART Card digital ID system, which goes on your smartphone so that the “authorities” can scan your QR Code and prove you have the correct number of shots before allowing you to enter Building X or Venue Z (fill in the blank, the options are endless).
Anyone who does not see where such a system is taking us, I’m sorry, but you have zero discernment and clearly have never read Revelation, or you read it and don’t believe it. The time for you to repent and accept Jesus Christ as your Lord and Savior is growing short. Please don’t waste it.
We have Pippa Malmgren’s statement to the World Government Summit.
We have Biden’s executive order from March 9.
We have the warnings about famine, war and cyber attacks.
This is no longer just speculation about the future. This is happening now. It’s in our faces. You know they are entering their implementation stage when they are talking openly about such things that previously were regarded as “conspiracy theory.”
And yet, all of our elected politicians, including those many of us consider to be the best, are sitting this one out. They are sitting on the sidelines talking about other issues that may also be important but do not have the potential to transform society overnight. Something as fundamental as an all-new money system.
Digital tyranny is being set up in state after state completely under the radar and they are silent. Where is DeSantis? Where is Trump? Where is Rand Paul? Jim Jordan? Ted Cruz? Anyone? Hello? Are you there? The silence is deafening.
What about you pastors? Are you paying attention? Why aren’t you alerting the people to this digital trap?
Unless we the people have the discernment that can only come from Jesus Christ, we will walk into their trap like sheep to the slaughter.
This Inflation is Premeditated & Permanent
This coordinated primary central bank policy now delivers permanent massive untold damage to people's savings, and the worst repercussions have just begun to hit.
The lie that this significant ramp in secular inflation was only "transitory" was evident if you looked at their published August 2019 plans. Back before the NYFed REPO loan fiasco kicked off and many months before, the global economy reportedly was shut down by bat soup.
Having seen the unprecedented expansion of the major central bank's fiat monetary base supplies, it is also blatant a coordinated run for massive inflation for record debt, and unfunded liability debasement has begun in earnest.
As you likely know, virtually all fiat currency supply piles blew out in response to "Dealing with this downturn." They also see the driver of long-term inflation will come from their rapid fiat currency supply ramping. This permanent inflationary ramp was premeditated.
This Inflation is Permanent, Not Transitory - SD Bullion
For as frustrating, seemingly lawless, and humiliating it has been to be a precious metals bull for over a decade running.
Central bank fiat currency base blowouts will produce significant swing trade value gains for those who own bullion with a long-duration viewpoint.
blowing out the $USD Monetary Base via Helicopter spending and also driving the fiat Fed's balance sheet up a wall same time
Coordinated preplanned INFLATION policies from Aug 2019 before NY Fed Reverse Repo ramps & later Covid chaos https://t.co/8m8Q2gzonq
GOING DIRECT^ https://t.co/7msoKfxNv4 pic.twitter.com/UbA6emDZVl
— James Anderson (@jameshenryand) December 1, 2021
Take advantage of these spot price dips and acquire prudent bullion positions if you have not already.
You don't want to look back in regret after worsening inflation has devalued illusory paper wealth positions.
That's all for this week.
As always, all you out there, take great care of yourselves and those you love.
CHART SAYS:#INFLATION in fiat $USD supplies (black line) will drive price inflation (red line climbing) to heights never before suffered
Near $30 trillion in growing record debt, & nearly $200 trillion in unfunded liabilities that need legally defaulting in real term$ onwards https://t.co/l34hvOZ2dr pic.twitter.com/vbYMOzM8EP
— James Anderson (@jameshenryand) December 5, 2021
FREE MONEY? NO STRINGS ATTACHED?
Cities throughout the world have launched their Universal Basic Income (UBI) programs (see map), handing out free cash, monthly payments of up to $2,000 (Canada) to selected individuals.
Participants include Manitoba, Canada; Panthbadodiya, India; Oakland, California; Quatinga Velho, Brazil; Namibia, Africa; Finland; Kenya; Uganda. Many other cities are planning to do the same.
Free money, “no strings attached,” says Gangland Chicago!
No strings attached?
Have you ever heard the old saying (perhaps an old Italian saying, because they have so many old Italian sayings), “If it sounds too good to be true, it is – too good to be true!”
Before you start calling around, to see about the “free money,” why not take a look at the end of the matter first.
[*UBI has nothing to do with welfare for the poor. Welfare programs to help the poor are necessary and every country should have a welfare program for truly indigent people, not lazy people; it is Biblical (Psalm 41:1; Proverbs 29:7]
Follow me on this trail for just a bit and I will sum it up nicely at the end.
First, the Word of God tells us there will be a cashless monetary system at the end of days, during the seven-year tribulation (this seven years is derived from the prophecies given by the archangel Gabriel, found in Daniel 9:25-27 [a prophetic week is 7 years] and the great tribulation occurs during the last seven years of that prophecy), preceding the return of Christ:
“He (the false prophet) causes all, both small and great, rich and poor, free and bond, to receive a mark on their right hand, or on their foreheads, that no man might buy or sell, except he who has the mark, the name of the beast (antichrist), or the number of his name. Here is wisdom: Let him who has understanding count the number of the beast, for it is the number of a man, and his number is six hundred, sixty-six” Revelation 13:16-18 (ET – Elim אֵילִם Translation)
In this prophecy, John saw the false prophet, who rises up with the antichrist dictator, mandating that everyone receive a “mark” on his right hand, or forehead, “that no man might buy or sell” without the mark. A person will need that mark to buy food, pay bills, pay for housing – everything. No one will be able to sell anything without the mark either. Who can survive without receiving that mark?
The Word of God also tells us what will happen to those who refuse the “mark of the beast:”
“I saw thrones, and they (saints) sat on them, and judgment was given to them (to judge the inhabitants of the world), and the souls of those who were beheaded because of their testimony of Jesus and because of the Word of God, who had not worshiped the beast, nor his image (perhaps an avatar), neither had received his mark on their foreheads, or their hands, and they lived and reigned with Christ a thousand years” Revelation 20:4 (ET – Elim אֵילִם Translation)
The revelation given to John tells us that those saints who refused the mark of the beast, and refused to worship him, or his image, were beheaded for their testimony, and they too ruled and reigned with Christ for a thousand years, after the seven-year tribulation.
The parable of the The Ten Virgins found in Matthew 25 tells us that five out of 10 virgins, members of the church, who thought they were ready to be caught up in the “rapture” of the saints, but were actually not ready spiritually, will have to go through the seven-year tribulation. These will likely be the first to repent and be beheaded, rather than take the mark, because they already know from the Word of God that if they take that “mark of the beast” in order to buy or sell, which also includes worship of the beast (antichrist), they can never be redeemed.
The Word of God tells us,
“And a third angel followed them, saying with a loud voice, If anyone worships the beast and the image of it and receives a mark on his forehead, or on his hand, even he shall drink of the wine of the wrath of God, having been mixed undiluted in the cup of His wrath, and will be tormented by fire and brimstone before the holy angels and before the Lamb (Jesus); and the smoke of their torment ascends forever and ever, and those who worshiped the beast and the image of it, even anyone who receives the mark of the name of it. Here is the patience of the saints: those who keep the commandments of God and the faith of Jesus” Revelation 14:9-12 (ET – Elim אֵילִם Translation)
We are informed here that anyone who worships the beast, his image, and receives his mark (to buy and sell) is no longer redeemable; they are henceforth reprobate and damned to hell forever.
Getting back to the original point now, the “free money.” The globalists decided to start the Universal Basic Income throughout the four corners of the earth; and from there, it should spread throughout the nations. Once people have come to rely on the extra income, the globalists will likely notify every recipient that their free cash will come to them on an RFID chip, or perhaps a microchip tattoo, on their hand, or forehead, or their income will cease. Most people will yield to that requirement.
In that the Word of God tells us there will be a global cashless monetary system during the last days, this UBI could easily turn into that scenario. In fact, I believe it will, because there are other signs telling us that we are approaching the next Holocaust, worse, the great tribulation (Matthew 24:21).
Many establishments today already refuse to accept cash.
They are slowly bringing things together to formulate a global cashless totalitarian government, folks. If not by this scenario, it will be another, but they are determined and they are working fast to meet that end. Moreover, it will happen, because it has been prophesied, and all Biblical prophecies come to pass.
Would you like to escape with God’s people before you are presented with the option of receiving a mark and losing your soul to hell forever, or losing your head?
Repent, if you haven’t already, pray daily, obey God’s Word, and watch and wait for the catching up (rapture) of the saints, because it will happen before the cashless monetary system comes to fruition.
“For the Lord Himself will descend from heaven with a shout, with the voice of an archangel and with the trumpet of God, and the dead in Christ will rise first, then we who are alive and remain shall be caught up together with them in the clouds to meet the Lord in the air, and thus we shall always be with the Lord. Therefore comfort one another with these words” 1 Thessalonians 4:16-18
Christ has already promised that His “bride” (He compares us to a bride waiting for her husband – Matthew 25) will escape His wrath:
“For God has not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ” 1 Thessalonians 5:9
“Because you kept the Word of My patience (God’s commandments and the faith of Jesus), I also will keep you out of the hour of trial about to come upon all the inhabitants of the world, to try those dwelling on the earth” Revelation 3:10 (ET – Elim אֵילִם Translation)
“Be watchful then, praying that you are counted worthy to escape all these things that are about to come to pass, and to stand before the Son of man” Luke 21:36 (ET – Elim אֵילִם Translation)
“Blessed are those servants whom the Lord shall find watching when He comes. Truly I say to you that He will gird Himself and cause them to recline and will come to serve them” Luke 12:37 (ET – Elim אֵילִם Translation)
Those who miss out on the catching up of the saints (rapture – taken from the Latin translation of the Bible “rapere,” which means to be “caught up,” which was used in the English translation), will likely have to face beheading, if they want to escape eternal hell.
If you haven’t already done so, now is the time to get serious about your relationship with God and get ready for the rapture!
Salvation is offered to everyone who repents of sin and receives Jesus as their Lord and Savior; unless a person crosses a line with God, to the point of becoming reprobate (Romans 1:21-32; Hebrews 6:4-6). Now is the time of salvation for everyone; tomorrow, or even the next hour, could be too late.
Hundreds of Bible prophecies have been fulfilled and those remaining shall surely come to pass. Are you prepared to stand before God and give an account of the life you have lived on this earth (Revelation 20:12-15)? If not, salvation is only a prayer away. Please visit the How Can I Be Saved page – your eternal destiny depends on it. God bless you.
Looming Financial Collapse
America's $28T Debt Explained in one Chart
In response to the pandemic, the U.S. Government initially sent $2T of stimulus into the economy. Nearly a year later, they’re readying another set of relief money. Everything from direct payments to workers, guaranteed loans to small businesses, and unemployment benefits are on the table. All the activity from the first bill has been adding to the national debt, which as our latest visual illustrates, has been exploding for years. And this next bill could accelerate the move. You can check out the U.S. debt clock in real-time here.
Looming Financial Collapse
Prophetic Perspectives #188 - Lamb & Lion Ministries
For the first 50 years in our visual from 1929 until 1979, the U.S. national debt only grew gradually. It was just $16B in 1929 or about 16% of GDP, rising to $827B or 31% of GDP in 1979.
Debt levels started to explode during the 1980s and 1990s, rising from $908B when Volcker raised the Fed rate to 20% to tame inflation to $5.6T when the Glass-Steagall Act was repealed in 1999.
In the late 1990s, the growth of the national debt slowed down. The U.S. government actually ran a surplus in 2000, and the debt decreased as a percentage of GDP from 65% in 1995 to 55% in 2001.
The U.S. debt resumed its skyrocketing trajectory with the War on Terror, the Great Recession, and now the Coronavirus crisis. It already hit 127% of GDP in Q3 of 2020 and is projected to double to 202% by 2051.
We gathered figures for the national debt and a list of relevant events from The Balance and the U.S. Treasury, which adjusted debt figures for inflation. We added a color-coded schema making it easier to tell every time the country adds another $6T to the debt. Another way to think about national debt is to compare it to the size of the economy. A country with a small economy can’t afford to rack up as much debt as a large one.
Taking the long view of history illustrates how the national debt wasn’t always so enormous. It was less than $40B throughout the entire Great Depression, and it only started to rise when the U.S. entered World War II and ramped up spending to support the military. In fact, the debt topped $269B or 119% of GDP in 1946, the highest ever when measured as a percentage of GDP. As the country recovered from World War II, the debt-to-GDP ratio actually declined even as the overall debt slowly marched upward. Debt-to-GDP was as low as 32% when Nixon ended the gold standard, or $458B.
But then the national debt started to explode in the 1980s, rising in short order from $908B in 1980 to $3.2T by the end of the decade. The inexorable rising national debt didn’t slow until the late 1990s, and the country actually ran a surplus in 2000. Over the next two decades, the country saw one crisis after another. The terror attacks on 9/11, the Iraq War and the global financial crisis all required extensive government spending. And now the government is poised to add another couple trillion to the debt due to the coronavirus crisis. President Trump entered office promising to eliminate the deficit, but he may be overseeing the largest deficit ever at $4T. Of course, the size of the debt depends on the extent the coronavirus damages the economy and whether Congress passes yet another round of stimulus, so the final numbers remain to be seen. President Trump entered office promising to eliminate the deficit, but he oversaw the largest U.S. deficit ever at $3.1T. Although high, this was below some initial projections as the economy improved towards the end of 2020.
The Coming Market Crash :: By Britt Gillette
As COVID-19 spread across the world in early 2020, economic activity froze. Entire cities in China were put on lockdown, and the lockdowns soon spread to Europe, the United States, and the whole world. With people confined to their homes, many businesses closed. The global economy came to a grinding halt. Global supply chains broke, airlines canceled flights, and an oil glut drove down petroleum prices as supply outstripped demand.
The economic shock of the coronavirus hammered global markets. Bond markets went into freefall, stocks plummeted, and global trade slowed to a near stop. The abrupt impact of COVID-19 on the global economy caused panic around the world, and this panic forced governments and central banks to take unprecedented measures. As a result of trillions of dollars in stimulus, the U.S. stock market and markets around the world reversed course, and they’ve been on an upward trajectory ever since. Second-quarter U.S. Gross Domestic Product (GDP), which measures the economic output of the U.S. economy, was the worst on record at negative 31.4%, but third-quarter GDP was the best ever at 33.4%. Throw in the rollout of several vaccines in November/December 2020, and boundless optimism continues to drive markets higher on the idea the economy will reopen and the pandemic will end.
But is this really what will happen?
The Health of the Global Economy
As we begin 2021, global markets signal a rebound in economic activity. The widely held belief is everything will eventually bounce back to pre-pandemic levels once COVID is vanquished. At least, that’s the consensus. Unfortunately, it’s not reality. The global economy is in terrible shape, maybe even in terminal condition.
Right now, the global economy is much like someone who just survived a bad car wreck. Immediately afterward, they walk away. They feel and look fine, and they think they’ve escaped unharmed. They don’t yet realize the extent of their injuries and only discover how serious they are hours or days later. This is where we are right now with the global economy.
Government programs have covered up the true extent of the damage, but they can’t do so forever. Business bailouts, direct government payments to individuals, and rent and mortgage moratoriums have delayed the pain. Because of them, many people can’t see the true extent of the economic damage. But these government band-aids won’t prevent the inevitable. The economy won’t “spring back” due to pent-up demand. Yes, once the pandemic ends, more people might decide to take cruises or eat out at restaurants. But they won’t book two cruises for the same weekend or order 15 meals in a single night to make up for the cruises they would’ve taken or the meals they would’ve eaten. Those transactions are lost forever.
In many cases, the economic damage from COVID-19 is permanent. The National Restaurant Association reports more than 110,000 U.S. restaurants permanently closed their doors in 2020. This is compared to 2019 which saw an increase of more than 10,000 restaurants, and the carnage isn’t over yet. Many of the 2020 survivors will go out of business in 2021. More than 15,000 retail store locations closed their doors in 2020 in the United States alone. The list of companies impacted includes iconic brands like Pier 1 Imports, Lord & Taylor, and Neiman Marcus.
Rent and mortgage forbearance has kept many from losing their homes, but what about the landlords and bondholders who haven’t been paid? Eventually, someone has to pay for all those who have lived rent and mortgage free in 2020. And what about the commercial real estate industry? With restaurants and retailers not making their lease payments, commercial real estate firms face ruin. With many employees successfully working from home, many commercial real estate leases won’t be renewed. This leaves vast amounts of office space vacant in big cities throughout the world. And this is just one example of the coming debt defaults and bankruptcies that will soon ripple throughout the entire global economy.
Right now, the world is drowning in debt – $277 trillion in debt. Much of that will never be paid back. When the defaults and bankruptcies start to take place, they’ll cascade throughout the global banking system and create another financial crisis. The only way to avoid a massive deflationary spiral like the Great Depression will be for governments to print and hand out currency to keep people and businesses from going under. But this will create its own crisis – a hyperinflationary crisis. In other words, there’s no way out. We’re on the brink of a major financial crisis. Government policy can delay it, but any delay is simply the calm before the storm.
The Asset Bubble Collapse
Over the long-term, stock markets cannot outperform the economies they operate in. Yet that’s what we’ve seen since the COVID crisis. Global stock markets are up. Economic growth is down. By almost every measure, U.S. stock markets are more overvalued than any time in history.
Warren Buffett’s favorite metric for valuation of stocks is to divide the total value of the stock market by the GDP. When the market is fairly valued, this ratio is between 75% and 90%. Right now, the ratio is hovering around 190% – the highest in recorded history. This means the stock market is now in its largest bubble ever. This includes the 1929 bubble which led to a three-year 89% crash and ushered in the Great Depression. It includes the Dot Com Bubble which caused a mania of speculation and irrational exuberance and ultimately ended in a 78% crash of the NASDAQ.
And this isn’t confined to U.S. markets either. According to Siblis Research, the price-to-earnings ratio of the global stock market is over 27, considerably higher than the 30-year average. Combine these record valuations with an ailing global economy, and you have a recipe for disaster.
A Dangerous Economic Crisis
So, what does all this mean? It means a major economic crisis is on the horizon. It may be the worst global economic crisis ever – worse than the Great Depression. This is cause for concern for more than just financial reasons.
In times of chaos and economic instability, dangerous political leaders and demagogues capture the public imagination. Past economic crises led to the rise of Napoleon, the launch of the Bolshevik Revolution, and the consolidation of German state power in the hands of Adolph Hitler. All these events had grave consequences for the entire world, not just the individual nations in question. Why should we believe this time will be any different?
Why This is Relevant to Bible Prophecy
The Bible describes terrible economic conditions in the end times. Revelation 6 tells us an entire day’s wages will barely buy enough food to survive (Revelation 6:5-6). This describes a world ravaged by hyperinflation, and it’s the backdrop against which the Antichrist makes his drive for global conquest (Revelation 6:3-4).
Ultimately, the Antichrist will implement a global economic system which requires the people of the world to worship him. The Bible says he will require everyone on earth to receive a mark, and no one will be able to buy or sell without the mark (Revelation 13:17). We see the beginnings of this system today. Central banks openly discuss plans to replace national currencies with new cryptocurrencies, giving their governments unprecedented power. With such power, not only will government be able to track everything you buy or sell, it will be able to kick you out of the economic system – just as the Bible says.
What You Should Do
Knowing all this, what should you do? A global economic crisis is coming. How can you best prepare for it?
The most important thing you can do is to build your life on a firm foundation. Jesus says anyone who listens to Him and follows His teachings is wise, like a man who builds his house on solid rock. When the storm comes, his house won’t collapse because it’s built on solid rock. But anyone who hears His teachings and doesn’t obey is like a man who builds his house on shifting sand. When the storm comes, his house will collapse with a mighty crash (Matthew 7:24-27).
Be like the man who builds his house on solid rock. Build your life on the unmovable rock – Jesus Christ. If you do, not only will you survive in a global economic crisis, you’ll thrive. In fact, with Jesus, you can weather any crisis the world brings. Remember, in this world, you will face many trials and sorrows, but take heart, for He has overcome the world (John 16:33). The days ahead will be tough for the whole world, but those who trust in Him will not be disappointed (Romans 10:11).
The END of ATMs in Australia? Thousands of cash machines are removed across the country as banks go digital
ATM's and bank branches across Australia are continuing to close at a rapid rate
Switch by customers to digital banking seen 'Big Four' banks switch their focus
ANZ head of distribution Kath Bray said changes were a clear sign of the times
As Australian banks continue to focus on digital transactions for customers, ATMs and bank branches are disappearing across the country, according to new data.
The analysis revealed close to 460 bank branches have shut down across the nation in recent years, and dating back to 2020, approximately 3800 previously active ATMs have been removed.
NSW alone now has 140 fewer in-store banks, and almost 300 suburbs don't have a singular ATM to withdraw cash.
It is a similar story in Victoria, where 120 branches have permanently closed their doors to customers.
'Closures have a devastating impact on local communities,' Finance Sector Union national secretary Julia Angrisano said.
'Jobs are lost, business is impacted, and another local service disappears.'
The closures have hit hard in regional and rural areas, and for older citizens, Ms Angrisano added.
Another key factor for the branch closures and reduced ATM's is the fact that banks are bringing in a small fortune from daily digital transactions.
As Australia accelerates towards a cashless society, fees from either the customer or vender for online banking have become common place.
In a modern-day digital world, an estimated 80 per cent of Aussies prefer to bank online.
But the remaining 20 per cent, namely the disabled or those who are not digital savvy, have been left stranded.
Tellingly, CBA now has 875 bank branches nationwide - compared to 1134 in February 2020.
Their number of ATMs has reduced to just over 2000 - in 2019 there were 4118 ATM's in circulation.
Last year, ANZ head of distribution Kath Bray said bank branch closures were a sign of the times, with digital transactions now the primary focus for many.
Republicans to Reveal Biden Banking Nominee’s Radical Vision to Close Americans’ Bank Accounts
Senate Banking Committee Republicans plan to highlight how Saule Omarova, President Joe Biden’s Comptroller nominee, has written academic papers calling for the government to abolish private sector banking and put all bank accounts into the Federal Reserve.
The Senate Banking Committee will hold a hearing Thursday at 9:30 a.m. Eastern to consider the qualifications for Omarova, a Cornell law professor, to become the Comptroller of the Office of the Currency (OCC).
Senate Banking Republicans said they plan to highlight just how radical Omarova would be as the Comptroller.
“We have never in my lifetime, and I think the lifetime of many members of this committee, which runs up to 35 years, seen a nominee just for a regulatory spot who was so openly hostile to the industry that he or she would be responsible for regulating,” a senior Senate GOP aide said Tuesday.
The aide said we have a nominee who has “talked openly and repeatedly about forbidding banking and that entire sector of the economy.”
During a March conference, Omarova discussed one of her papers, “The People’s Ledger How to Democratize Money and Finance the Economy,” in which she calls for the destruction of all private sector banks by mandating the transfer of all bank deposits to “FedAccounts” at the Federal Reserve.
During her conference speech, she said, “There will be no more private bank accounts, and all of the deposit accounts will be held directly at the Fed”:
LPE Project's "Law & Political Economy: Democracy Beyond Neoliberalism" Conference
Sen. Steve Daines (R-MT) said Omarova’s “support of Communist ideals” disqualifies her for the position.
Omarova has also said she wants to see the bankruptcy of companies in the fossil fuel industry to pave the way for climate change policies.
“For certain troubled industries and firms that are in transition. And here what I’m thinking about is primarily coal industry and oil and gas industry,” she said.
“A lot of the smaller players in that industry are going to probably go bankrupt in short order – at least we want them to go bankrupt if we want to tackle climate change, right?” Omarova added.
Breitbart News Economics Editor John Carney noted Omarova would end community banking as we know it if the Senate confirms her.
The OCC is one of the most powerful financial regulators in the U.S., with primary responsibility over national bank charters. It is a part of the Treasury Department that can operate with wide autonomy. Since the position operates for five years, Omarova, if confirmed, could serve in the position beyond a one-term Biden presidency.
A former senior government official told Breitbart News if the Senate were to confirm Omarova, she would have the “most powerful, least accountable” position over America’s banking system.
Sen. Pat Toomey (R-PA), the ranking member of the Senate Banking Committee, has asked Omarova to provide the committee a copy of her thesis, “Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital.”
Omarova has not provided a copy of her 1989 Moscow State University thesis to the Banking Committee.
Omorova’s radical views on banking could harm her chances of getting confirmed in the Senate Banking Committee.
Axios reported that several Banking Committee Democrats such as Sens. Jon Tester (D-MT), Kyrsten Sinema (D-AZ), and Joe Manchin (D-WV) remain concerned about her views.
Beyond the Senate Banking Committee, Senate Democrats would have to confirm Omarova with a one-member majority in the Senate.
Toomey said, “Republicans will overwhelmingly oppose this self-described radical.”
In an interview with New York Magazine, Omarova dodged any accusations that she would eliminate national or community banks.
Of course, I expected that Wall Street banks would be strenuously opposing my nomination … because my work has been focused on how to minimize systemic risk that is created when large banking institutions start aggressively growing their trading operations and feed speculative booms that may be unsustainable. I expected that they would be worried about me becoming their regulator because they would know that I have strong views about not allowing another crisis to happen; they know I ask difficult questions and keep asking them, rather than being satisfied with superficially reassuring answers from the industry.
Omarova concluded her interview, claiming that banks have nothing to worry about concerning her nomination as long as they commit to “doing good for the United States.”
She said, “Any bank that wants to channel credit into the real communities, real economy, I’ll be their best friend. If wealthy banks genuinely commit to doing good for the United States, then they have nothing to be afraid of from me. Nothing.”
ONE WORLD ECONOMY