Marching Toward the Mark - Terry James - http://www.raptureready.com/rap16.html
I preface what follows by saying that in understandings of economics on the scale needed to truly make heads or tails of what is coming at us, I am woefully, educationally challenged. Even thus, however, I can clearly envision what lies in the not-too-distant future for America and the world. There is coming a collapse of unprecedented magnitude, and the ramifications will bring about worldwide calamity, the nucleus of which will involve famine and military conflict. This much I know from what Bible prophecy tells us about the wrap-up of human history, a time in which I'm convinced we find ourselves at the present hour.
Even the neophyte student of economics, after a quick look at how things are shaping financially, comes away with the foreboding sense of gloom and doom. It is a sense of inevitability. The whole thing--the financial structure undergirding, propping up the system--is made not of steel and concrete, but of faith based upon...nothing. Why it hasn't already collapsed into a heap is the overwhelming puzzlement that the examining student comes to.
A prime example of the smoke and mirrors involved in the state of the monetary world can be seen in microcosm with a statement by the man who once headed one of the financial quandary's chief perpetrators.
Alan Greenspan, former chairman of the Federal Reserve, said a Social Security Trust Fund does not exist and that the U.S. is "way underestimating" the size of its national debt.
"The notion that we have a trust fund is nonsense - that trust fund has no meaning whatsoever... That means the trust fund is a meaningless instrument that has no function ... it's exactly the same thing as current expenses," he said. ("Greenspan: Social Security Trust Fund 'Nonsense' and 'Meaningless,' Newsmax, 6/8/15)
Greenspan was saying with his characterization of what's been going on with Social Security for decades that it has been and is now all a big lie. There is no "trust fund" to guarantee Social Security payments to recipients. The program is subject to collapse at any moment of crisis.
The same vulnerability is true of the whole economic system of this nation and of the world--all nations of which are intricately linked to the U.S. economy in one way or another. The dollar, despite its problems and rumored problems to come, continues to sit atop the global monetary structure.
Our current money system began in 1971. It has survived many credit crunches since that time, but the currency is no longer backed by substantial gold reserves, because Nixon took the U.S. off the Gold Standard in that year. Paper currency, therefore, is based upon nothing more than a credit system--i.e., it is a system built on who is willing to give and receive credit based upon faith that the dollar, unbacked by tangible assets, has purchasing power.
Adding to the worrisome reality that any breach of this credit system along the way, in which the buying and selling would no longer be accepted in good faith--thus setting in motion a global financial collapse--is an even bigger, building problem.
As bad as the 2007-2008 financial collapse was, the next crisis could be very different. World-wide debt, again, based upon nothing but smoke and mirrors, according to experts, presents a recipe for economic cataclysm.
According to a recent study by McKinsey, the world's total debt (at least as officially recorded) now stands at $200 trillion - up $57 trillion since 2007. That's 286% of global GDP... and far in excess of what the real economy can support.
At some point, a debt correction is inevitable. Debt expansions are always - always - followed by debt contractions. There is no other way. Debt cannot increase forever.
And when it happens, ZIRP and QE [manipulative monetary processes] will not be enough to reverse the process, because they are already running at open throttle. ("Literally, Your ATM Won't Work," Bill Bonner Of Bonner And Partners, Zero Hedge 6/7/15)
My understanding in these matters is very limited from the standpoint of how all of this economic intricacy fits together. However, the authorities who claim to understand predict that cash to buy and sell will be in critically short supply when all of this collapses in upon the world of consumers. They liken it to a tsunami.
The cash will first be sucked almost completely out of circulation, at which time a massive tidal wave of inflation-driven depression will crash upon all nations of the world.
Sounds very much like something of which I am somewhat a student. It sounds very much like the third rider and his black horse of Revelation chapter 6.
All of this, of course--it makes sense--could easily set up apocalyptic things for the man with the plan who will ride in on the white horse of that same chapter.
The complexities that have created this tsunami will be dealt with, no doubt, by computers, satellites, bioelectronic chips, and a system of buying and selling using numbers within a cashless system involving electronic funds transfer.
That smacks of Revelation 13:16-18, does it not? Indeed, this generation is marching toward the mark.
I preface what follows by saying that in understandings of economics on the scale needed to truly make heads or tails of what is coming at us, I am woefully, educationally challenged. Even thus, however, I can clearly envision what lies in the not-too-distant future for America and the world. There is coming a collapse of unprecedented magnitude, and the ramifications will bring about worldwide calamity, the nucleus of which will involve famine and military conflict. This much I know from what Bible prophecy tells us about the wrap-up of human history, a time in which I'm convinced we find ourselves at the present hour.
Even the neophyte student of economics, after a quick look at how things are shaping financially, comes away with the foreboding sense of gloom and doom. It is a sense of inevitability. The whole thing--the financial structure undergirding, propping up the system--is made not of steel and concrete, but of faith based upon...nothing. Why it hasn't already collapsed into a heap is the overwhelming puzzlement that the examining student comes to.
A prime example of the smoke and mirrors involved in the state of the monetary world can be seen in microcosm with a statement by the man who once headed one of the financial quandary's chief perpetrators.
Alan Greenspan, former chairman of the Federal Reserve, said a Social Security Trust Fund does not exist and that the U.S. is "way underestimating" the size of its national debt.
"The notion that we have a trust fund is nonsense - that trust fund has no meaning whatsoever... That means the trust fund is a meaningless instrument that has no function ... it's exactly the same thing as current expenses," he said. ("Greenspan: Social Security Trust Fund 'Nonsense' and 'Meaningless,' Newsmax, 6/8/15)
Greenspan was saying with his characterization of what's been going on with Social Security for decades that it has been and is now all a big lie. There is no "trust fund" to guarantee Social Security payments to recipients. The program is subject to collapse at any moment of crisis.
The same vulnerability is true of the whole economic system of this nation and of the world--all nations of which are intricately linked to the U.S. economy in one way or another. The dollar, despite its problems and rumored problems to come, continues to sit atop the global monetary structure.
Our current money system began in 1971. It has survived many credit crunches since that time, but the currency is no longer backed by substantial gold reserves, because Nixon took the U.S. off the Gold Standard in that year. Paper currency, therefore, is based upon nothing more than a credit system--i.e., it is a system built on who is willing to give and receive credit based upon faith that the dollar, unbacked by tangible assets, has purchasing power.
Adding to the worrisome reality that any breach of this credit system along the way, in which the buying and selling would no longer be accepted in good faith--thus setting in motion a global financial collapse--is an even bigger, building problem.
As bad as the 2007-2008 financial collapse was, the next crisis could be very different. World-wide debt, again, based upon nothing but smoke and mirrors, according to experts, presents a recipe for economic cataclysm.
According to a recent study by McKinsey, the world's total debt (at least as officially recorded) now stands at $200 trillion - up $57 trillion since 2007. That's 286% of global GDP... and far in excess of what the real economy can support.
At some point, a debt correction is inevitable. Debt expansions are always - always - followed by debt contractions. There is no other way. Debt cannot increase forever.
And when it happens, ZIRP and QE [manipulative monetary processes] will not be enough to reverse the process, because they are already running at open throttle. ("Literally, Your ATM Won't Work," Bill Bonner Of Bonner And Partners, Zero Hedge 6/7/15)
My understanding in these matters is very limited from the standpoint of how all of this economic intricacy fits together. However, the authorities who claim to understand predict that cash to buy and sell will be in critically short supply when all of this collapses in upon the world of consumers. They liken it to a tsunami.
The cash will first be sucked almost completely out of circulation, at which time a massive tidal wave of inflation-driven depression will crash upon all nations of the world.
Sounds very much like something of which I am somewhat a student. It sounds very much like the third rider and his black horse of Revelation chapter 6.
All of this, of course--it makes sense--could easily set up apocalyptic things for the man with the plan who will ride in on the white horse of that same chapter.
The complexities that have created this tsunami will be dealt with, no doubt, by computers, satellites, bioelectronic chips, and a system of buying and selling using numbers within a cashless system involving electronic funds transfer.
That smacks of Revelation 13:16-18, does it not? Indeed, this generation is marching toward the mark.
BE SURE TO CHECK OUT MY ALL NEW PROPHECY AND CREATION DESIGN WEBSITES. THERE IS A LOT TO SEE AND DO..........
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.