In Revelation there is a lament about the storied power of Babylon being brought next to nothing in one hour. It is one example that this ominous prophesy was for this time period we are currently in. Economic downturns can take place in minutes.http://www.signstimes.com/?p=article&a=40015601521.645
There are many that believe the Rapture of the Christian church will usher in such economic calamity that the world’s financial system would collapse. Movies suggesting what would happen in “Left Behind” and now “The Leftovers” attempt to convey what would happen if millions upon millions of people would suddenly disappear.
But this is only one scenario. There needs to be a cataclysmic event that brings the world’s entire financial system to its knees. The social and economic chaos will allow a dark figure to enter to the forefront and offer the world order. Countries consumed in fear will fall over themselves to set aside even their freedoms to buy into the solutions of this charismatic individual.
Not only will this pretended savior have economic solutions, he will also have political solutions to the insolvable issue regarding Jerusalem. The world will be amazed and enthralled by this mystery man.
The Rapture could well be the event that brings the world to a state of ruin, however there is another event that could unleash just as much turmoil. It perhaps is just as unthinkable as the Rapture for many in this country.
It will be far worse than the real estate bust of 2008, it will impact the stock market, bond market, investment funds, savings accounts, and even our standard of living believed to be impregnable.
What would happen if the world stopped using the “in God we trust” American dollar as the international standard for reserve currency?http://www.nytimes.com/2013/10/16/business/imagining-the-dollar-without-its-privilege.html?pagewanted=all&_r=0
Most Americans have no clue what that means.
Americans have long been the envy of the nations for its standard of living and economic dominance with its meteoric gross national product output.
Nations are forced to do business with America's currency because our dollar is the international standard for currency exchange. The price of oil is in dollars, thus countries must to business with each other in dollars even if America is not involved with the transaction. Our debts to other nations are paid with dollars.
The issue is the United States prints money which it uses to pay off its debts both foreign and domestic. One just cannot have a better setup. Unfortunately the days are numbered that America will continue to use this strategy without causing hyper-inflation at home. This only works if your currency is the preferred method of exchange.
The luxury of doing the same thing for years is finally going to catch up with America. The rumblings of what is to come are already beginning to take place where America’s dollar will not be the standard for foreign currency exchange.
China is already making moves to move away from the dollar. There was a high level economic meeting among some of the biggest economic countries as China, Saudi Arabia, Japan and a handful of others. The United States was not invited. Kuwait was among some of the countries conspicuously present…that is right, the country America helped to liberate from Iraq during the Gulf War. Memory can be short when dealing with finances.
Biblically Deuteronomy 28 outlines the blessings and cursing of obeying or disobeying the tenants of God’s law and economic hardship is clearly a consequence of turning away for God’s word. The accuracy of problems for non-compliance reads like a description for America’s issues.
Depending who one chooses to believe, America is racking up nearly $2.5 billion dollars a day in debt with over $17 trillion overall and climbing. Some economists put America’s debt well over $20 trillion. There is a point not too far down the road where America will not be able to pay the interest payments, particularly should the United States lose its favored status as the world’s currency standard.http://www.brillig.com/debt_clock/
The truth is nobody really knows what will happen with America’s current habitual spending spree combined with the issue of climbing debt and possibility that America could lose its status as the world’s currency exchange.
This is territory that has never been navigated before.