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Monday, 11 October 2010

CURRENCY WARS THREATEN GLOBAL FINANCIAL SYSTEM

 

It has finally happened. The global economic system has deteriorated to the point that many nations are trying to weaken their own currencies in order to boost exports in the hope that it will lift their respective economies out of continuing recessions. The problem, of course, is that as more nations implement such policies, the global financial system experiences increased strain and currency/trade wars break out.

The first link below cites Brazil’s Finance Minister as warning in late September that “an international currency war has broken out.” The second link cites the same official as reiterating the fact that “the world is involved in a trade war and an exchange rate war” and that “the main cause of this issue is that the world crisis was not adequately solved.” He also discusses the role of the USA, China, Europe and the IMF in this global currency war. The third link details that many nations are now involved in this currency war, and that “Finance ministers and central bankers from 187 countries [were convening] at the annual IMF meeting to address the beggar-thy-neighbor policies [which] could wreck the global recovery.”

Even the head of the IMF warned that “he is seriously concerned over the danger of a currency war between influential countries” (fourth link below). I believe that he is especially hinting that a trade/currency war between China and the USA could produce havoc in the global economic system. The Chinese-American controversy over China’s reportedly undervalued currency is discussed in several links below. The fifth link is a report on this subject by the respected Weiss Money and Markets website. It warns of “All Out Currency Wars!” coming in our immediate future and especially notes the US Federal Reserve Board is “hell-bent on devaluing the US dollar, that commodity prices are rapidly escalating and that central bankers themselves now believe that governments cannot stop the economic implosion occurring in the US and Europe (emphasis added).” You owe it to yourself to read this analysis as the trends it discusses will seriously affect all our lives in the months and years ahead of us.

This currency war is likely to escalate as nations become more desperate to salvage their own national economies and incumbent political leaders become more desperate to save their own positions by “doing something” to appease their respective populations. The USA and China appear headed for an inevitable confrontation over currency matters. The USA rightly charges that China has manipulated its currency to undervalue it so it retains an unfair competitive advantage over American producers, and China rightly charges that the American government cannot “get its own financial house in order” so why should the American government blame China for American policy mistakes? When each side has some merit to its position, expect this controversy to get uglier. The final link below (dated yesterday) reports that the global IMF meeting to prevent a global currency war has failed to do so. It states that “Global finance leaders failed Saturday to resolve deep differences that threaten the outbreak of a full-blown currency war.” Given the failure of the IMF meeting, this situation can only get worse.

The advent of a global currency war also accelerates the fulfillment of the prophecy in Revelation 17-18 that the banking-based global economic/monetary/commercial system called “Babylon the Great” will eventually collapse in the latter days, to be replaced by a new global system ruled by the “beast.” When our current system collapses, Christians can known that the advent of the new, global beast system is imminent. When the beast system forms and takes power over global finances (Revelation 13:15-18), Christians can know that we are within a little more than three and one-half years from the return of Jesus Christ because Revelation 13:5 limits the beast’s rule to only 42 months. It is the return of Jesus Christ at the head of a heavenly army that ends the beast’s reign (Revelation 19:11-21).

The worsening currency wars are one more sign that the collapse of Babylon the Great’s global monetary/financial system is drawing nearer. The accuracy of Bible prophecy is being made graphically obvious in modern geopolitics, confirming that the Creator God of the Bible is shaping overall world events to fulfill his prophecies for the latter-days. At this point, the only question is not “whether,” but “when” the collapse of our current, increasingly-unstable world economic system will occur. New readers who are not familiar with biblical prophetic terminology are recommended to read two articles available for free at the articles link of this website. The first is What Kind of Captivity?, which documents from secular sources that the modern banking-based financial system originated in ancient Babylon, hence the biblical prophetic term “Babylon the Great” to describe our global banking-based financial system. The second article is Is Babylon the Great About to Fall…Ushering in a New Beast System?, which examines in detail the biblical prophecies about the pending collapse of the current global system and its replacement by the long-awaited “beast” system as this age of mankind draws to a close.

We are living in momentous times when major biblical prophecies are about to be fulfilled before our eyes. Please forward this blog to all your Christian friends so they can be prepared for what is coming in the foreseeable future. This is no time for Christians to be complacent. This is all going to dramatically affect you, your families and your friends. Stay tuned to this blogsite for further updates as the global financial system weakens further.

I wish to thank two readers who sent me some of the links below.

http://stevenmcollins.com/WordPress/?p=3043

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