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by Bill Perkins
After 50+ years of liberals spending money they don't have, the world's fiat financial system is totally broken.
A patchwork financial dike is being held together by smoke and mirrors. If this dike breaks, and some believe it's inevitable, we'll end up with a new currency. The ramifications of this "reset" are being discussed, even the possibility that a new world currency could emerge.
This financial "reset" might even happen BEFORE the financial dam breaks, giving little or no warning. Don't think for a minute that can't happen. EVERY fiat currency in the history of the world has eventually failed. The question for the U.S. dollar is only "when."
Of course it's not just the United States who's having financial problems. Greece, Spain and Italy are bankrupt on paper but no one wants to admit it.
The euro is in worse shape than the dollar.
Spain just raised their national sales tax from 18% to 21%, to pay down their national debt, causing riots in the streets. The euro will probably hold together in the short-term, but it won't last forever and eventually it too will likely collapse and also need to be "reset."
Greece is out of cash and one breath away from default, despite all the promises of bailout. The ECU (think Germany) just checked on their 300 "conditions" they set for Greece to receive their bailout and discovered 210 of the conditions not only haven't been implemented but have been completely ignored.
If Greece doesn't get the bailout, not only do they default on their loans, they can't pay their government workers. And Moody's just downgraded Italy. Talk about a mess!
The cause of all this pain has been well- documented. Our American dollar was changed in 1971 from gold-backed paper dollars to just paper dollars with nothing backing them. We use the dollar by faith because it's worth only ... ???
A currency without gold or silver backing it is called a "fiat" currency. The result of the U.S. dropping the gold backing has been a 90% loss of value since 1971.
"The problem with socialism is that you eventually run out of other people's money." - Margaret Thatcher
But the real reason for the need for a "reset" is the out-of-control spending by our leaders of both parties, both national and local. Governments simply cannot spend more than they tax and not pay the price for it.
We have promised government workers fat retirements that are impossible to maintain. When a lifeguard can retire in 20 years with a $100,000+ retirement income, all sense of balance is gone. These factual stories are rampant today.
Think about this, the United States debt is growing at over ONE TRILLION dollars per year. And that number would be hugely higher if interest rates were not artificially being kept close to zero. We are currently paying about 7 trillion dollars in interest per year according to USDebtClock.org.
If interest rates were allowed to rise to normal levels, the national debt would be rising over four TRILLION dollars PER YEAR! And only half of Americans are actually paying taxes!
Add to that the fact we have liabilities for Medicare, Medicaid, and prescription drugs of over $61 trillion dollars. Some estimate this to be over $100 trillion.
Do you see a problem here? This fast-moving train is about to run out of track. </span
Worse, despite quantitative easing (dumping huge amounts of money into the system) and contrived low interest rates, recent releases of economic indicators around the world show the global economy is turning downward. You can only artificially manipulate the system for so long. Eventually true market forces catch up.
So the result of all the world governments' stimulus programs is that we now have more money chasing fewer goods and services. This is textbook inflation. When Germany tried this after WWI, also trying to jump start their stalled economy, they ended in hyper-inflation.
We need to be very aware of what is taking place. A major currency "reset" is highly probable.
A "reset" could happen anytime... before the November elections, just after, next spring, or possibly even out a year or two. But our current economic system is on it's last legs and Christians need to be aware.
The trigger could be anything, like the collapse of a major bank in the world. A European bank failure could easily cause the collapse of the European banking system which would lead to entire governments falling apart. If the euro goes, Britain's pound would not be far behind. And that would shake the financial foundations of the U.S., China and Japan.
This scenario would bring to an end the fractional banking system and fiat currency. A new currency would be introduced, probably gold-backed, as that's the only real money and trust would be at an all-time low.
The United States has the most gold in reserves (assuming it's still there) so they would still be in the driver's seat.
What we don't know is whether or not currencies will be individually "reset" for each country, or will the powers that be go for a world-wide currency. I can promise you it's being discussed.
The Bible tells us that during the Tribulation, the seven years following the Rapture, that a world-wide currency will be in place. So as we get close to the Rapture, we also should get close to the world currency... or even see the beginnings of it fall into place.
But the feared "666" Mark of the Beast (Rev 13:16) will not happen until after the Rapture. So you don't have to worry about using new money with a bar code prior to the rapture!! Nothing you do can separate you from the Lord Jesus in the Church Age.
For I am convinced that neither death, nor life, nor angels,nor principalities, nor things present, nor things to come, nor powers,
nor height, nor depth,nor any other created thing, shall be able to separate us from the love of God, which is in Christ Jesus our Lord.
Rom. 8:38-39
Most people are not even aware of how dire our monetary situation is in the United States. Four out of five Americans are living "paycheck to paycheck," meaning little or no savings or assets. These people would get hurt the most.
Those who DO have assets would be smart to think through what would happen if the system is "reset." You basically have to think the unthinkable. You have to stretch and go through the "what if" possibilities. Lots of cash sitting in a bank would not be good. Paid up assets such as real estate and precious metals will fare much better.
A U.S. or even worldwide financial "reset" would not be the end of the world. But some will fare better than others if they plan ahead. It most probably will come without warning, probably an "emergency" announcement over a weekend "to protect our citizens."
In 2007-2008 we saw a glimpse of what this would be like. That crisis affected corporations, institutions and most individuals.
The "reset" will be a perfect time for a major redistribution of wealth, something desired by Satanic forces for decades. They openly want the assets of the United States redistributed to other countries. (To see our previous eNews article on Agenda 21, CLICK HERE)
People who will lose the most will be those in cash and bonds. Wealthy people will see huge tax increases. The United Nations is already trying to tax billionaires with a global tax. And the UN is also trying to get a "transaction tax" passed so that every transaction in the world comes under UN control. During a system-wide "reset," expect new taxes like these to be implemented without opposition, "to 'sustain' the planet."
A "reset" is actually easier to implement today than ever before. In the past, new currency had to be distributed to everyone. Now most of it will just be a change in digits in your bank accounts. When Israel went through a "reset" in the 1980's, Israelis woke up one morning and three zeros had been slashed from their bank accounts and the old Israeli sheckle (IS) became the new Israeli sheckle (NIS).
New taxes for wealthy are already coming if Obama is reelected. As he told the Russians, he will have far more flexibility in what he does after he is reelected. If we are seeing Obama "restrained," I can't imagine what he will be like "unrestrained!"
His new taxes (just the ones we know of) include taxing more for Social Security, eliminating state and local deductions, eliminating mortgage interest deductions and limiting charitable contribution deductions. Plus doing away with the capital gains tax when you sell your home (you would have to pay full tax on profit on sale of home).
For singles or couples earning $250,000 per year, they will pay $35,000 to $40,000 MORE in taxes. Those earning $150,000 per year will pay an additional $15,000 or more. Just incredible.
The Obama reelection campaign is hoping everything holds together through November's elections. But even if Romney is elected, he will inherit a financial system that is already beyond repair.
History tells us that when politicians begin controlling currencies, the eventual result is economic chaos. And economic chaos is always followed by political chaos.
And of course, political chaos makes it possible for someone to rise to power promising order. Our constitution, guaranteeing our freedoms to work, play, worship, bear arms, etc., would be tested to the max during a "reset."
The balance to all this is that God is still in control. Pray for America's leaders, regardless of who they are. Even if the "reset" is inevitable, the transition could either go well or badly.
The king's heart is like channels of water in the hand of the LORD; He turns it wherever He wishes. Prov 21:1
Ultimately we know this all ends up with a one-world leader and a one-world currency.
And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, 1to be given a mark on their right hand, or on their forehead, and he provides that no one should be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. Rev 13:16-17
For that to be instituted, you would need a world-wide currency in place, and, someone controlling the entire world. What an amazing prophecy we are witnessing being fulfilled right in front of us!
How close? Pretty darn close! And Rapture has to come BEFORE the "Mark of the Beast." Now that's really exciting! It may still be a while, but hey, Rapture could happen any moment.
Consider four major prophecies
> Israel is in their homeland after almost 2000 years. (Ezek 37)
> The "apostasy" of doctrine has infiltrated churches worldwide (2 Thes 2:3).
> The Internet has given the world access to knowledge (Dan 12:4).
> The world's financial economy could now be controlled from one place by one person (Rev 13:16-17)
Yes, very exciting! Especially considering that these were written from 1900 to 2600 years ago!
Shalom!
Bill
