Thursday, April 18, 2013

"Does the Bible Predict the Death of the Dollar?"

Some believe the recent fall in gold prices signals the end of our financial troubles. What do we think? Hooray--if it's true.

The financial crisis of 2007-2008 was the worst since the Great Depression. It resulted in the failure of large financial institutions, bank bailouts, a housing bubble, and prolonged unemployment. In fact, the downturn in the economy was so severe it led to the 2008-2012 global recession and contributed to the European sovereign-debt crisis. The financial crisis was triggered by a complex web of greed, debt, and more debt.

And guess what? They really haven't fixed anything. The same debt-based system is still in place.

The Federal government has only three ways to get money:
  1. tax
  2. borrow
  3. print
With the U.S. National Debt Clock running to the tune of 16 trillion and counting, they cannot tax or borrow enough money to even make a dent. They must resort to printing money out of thin air.

Sound good? Not!

The printing of money with nothing to back it is essentially counterfeiting by the government. You can expect high levels of inflation to follow eventually. How long? Nobody knows.

WARNING: Whatever recovery we might experience is distorted by the Fed flooding the economy with $85 billion per month (or 1 trillion dollars per year) of counterfeit money. The fact that this so called 'recovery' is so weak in spite of this infusion of cash is very telling.

The truth is this: We are in a failing financial system across the globe. Printing money to pay the government's bills is not something to be taken lightly. It is one of the last and most desperate measures.

What can we do?

First, remember that God is in control no matter what happens (Isaiah 46:9-11).

Second, remember that knowing God is in control does not remove our responsibility to do everything possible to prepare ourselves (Proverbs 22:3).

It's important to do your own homework. Find out for yourself what's really going on. Figure out what your options are and pray for discernment. And then consider whether the following options (taken from Christian Financial Concepts, Inc.) make sense in your own situation:
  • Have an emergency fund. Plan for the unexpected like you should for an earthquake or a job loss (Proverbs 6:6-11).
  • Get out of debt. No one can indefinitely spend more than they make. What you own belongs to you and not to a lender. Many could be debt-free just by moving funds from one investment to another, such as withdrawing funds from a retirement account to pay off their home mortgage. Sound drastic? What makes sense in a stable economy may not in a volatile one. Pay off all credit card debt. Paying interest makes no sense if you can avoid it (Proverbs 28:8).
  • For those who are at least 20 years from retirement, concentrate on paying off debt before saving for retirement. Set a goal to be debt-free ASAP (Romans 13:8; Proverbs 22:27).
  • Diversify as much as possible. Don't put all your eggs in one basket, all your money in one bank, and for those of you with substantial assets--all your investments in one country.
Remember what happened in Cyprus last month when its banking system nearly collapsed? They put depositors on the hook for the bailout! And not only that, but Dutch Finance Minister, Jeroen Dijsselbloem said that the Cyprus deal will serve as a 'template' for future bank bailouts. That sets a precedent. IF they can do it there--they can do it here. What happened in Cyprus put a spotlight on the economic woes that are still there just below the thin veneer of 'recovery'.

While the Bible doesn't use the phrase 'one world currency', it provides enough evidence to enable us to draw that conclusion. Most likely it will be a virtual or digital form of currency. Revelation 13:16-17 describes some sort of specific mark on the right hand or forehand that will be required to be able to buy and sell. We believe the church will be gone at this point, but the fact remains: Our current banking system will no longer exist. Could we be in the beginning of that process now?

Check out these opposing views on where the economy is going.
Bullion Brawl: Doug Kass vs. Peter Schiff

For a very interesting, but more extreme view of where things might be headed go to:
Very Dangerous Market Distortions by Gregory Mannarino @

A wise man once said: "Just as the day of the Lord will come as a thief in the night, so economic collapse will come in the midst of what appears to be economic prosperity. The very debt that creates the prosperity ultimately destroys it." Larry Burkett, founder of Christian Financial Concepts, Inc.

"Dear brothers and sisters, whenever trouble comes your way, let it be an opportunity for joy. For when your faith is tested, your endurance has a chance to grow. So let it grow, for when your endurance is fully developed, you will be strong in character and ready for anything."


  • World Magnitude 7.8 earthquake rocks Iran. Second large quake within 7 days. Dozens dead.
  • CNS New immigration bill guarantees rush across border; legalizes illegals' relatives previously deported, shredding current laws.
  • Live Science: New study finds 'supervolcano' magma reservoir under Yellowstone is at least 50% larger than previously thought; an eruption could alter the planet.
  • Daily Express: North Korea vows blitz attack on South Korea warning: retaliation will start without notice.

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