#544

The Collapsing World Economy

A Bad Week

The world economy is having a bad week and economists are pointing to a variety of reasons for it as we read in an article from BBC.com:

Over the past few days, global stock markets have been plummeting. Trading screens across the US, Asia and, to a certain extent, Europe are awash with blinking red numbers heading south.

The sudden turn comes as fears grow that the US economy - the world's biggest - is slowing down. Experts say the main reason for this fear is that US jobs data for July, released on Friday, was much worse than expected. However, for some, talk of an economic slowdown - or even a (whisper it) recession - is a little premature. So, what did the official figures show us? As always with economics, there is good news and bad news. Bad news first. US employers created 114,000 jobs in July which was way below expectations of 175,000 new roles.

The rate of unemployment also rose to 4.3%, a near three-year high, which triggered something known as the "Sahm rule". Named after American economist Claudia Sahm, the rule says if the average unemployment rate over three months is half a percentage point higher than the lowest level over the past 12 months then the country is at the beginning of a recession.

We’ve seen worse downturns in both the US economy and around the world, but the dynamics of our world are vastly different than they were in say 2008. And while downturns always happen, the significance of the weakening of the US dollar is significant.

The Dollar Has To Die

As Bible prophecy students we know two things about the end times and the rise of a one world government. First there will be a system in place where everyone’s buying power will be governed by a centralized government. That would be the infamous mark of the beast seen in Revelation 13:16-17:

He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name. (NKJV)

Right now, the dollar is in the way of that system. It has to be replaced by something that is global and can be controlled globally. The second thing we know is that the United States doesn’t appear to be seen in Bible prophecy and for such a world power to not be even talked about like say Russia, Turkey, Iran and Israel to name just a few, there has to be a reason. Could it be that this time the dollar won’t recover? And with our economic power diminished it is also possible that our place as a super power will go with it. This is not just a theory. There are already plans in place for such an occurrence.

That Darn WEF

A Digital world currency is already being discussed and as we see on the World Economic Forum (WEF) website, the logic is oh so nice and humanitarian as we read in an article from them:

The World Bank estimates that 1.4 billion people worldwide are unbanked. While the GSMA estimates that 345 million of the 400 million micro-enterprises in emerging markets are informal, highlighting a significant gap in the global financial landscape.

This lack of access to financial resources creates a major hurdle, especially for citizens and microentrepreneurs who are the lifeblood of developing economies. These people drive development, create employment opportunities and often improve the quality of life across their communities.

According to the UN, micro, small and medium enterprises (MSMEs) account for 90% of businesses, more than 70% of employment and 50% of GDP worldwide. It’s essential for them, therefore, to have access to the resources and tools they need to expand operations and manage bigger product orders and growing demand.

See how they create new words like “unbanked?” And how having a digital currency raises the quality of life? They weave their web even more this way by fixing the unbanked crisis with what they call “financial inclusion”:

By leveraging digital technologies, fintech solutions can provide a sustainable means for unbanked and underserved populations to contribute to the global economy. This transformative promise is becoming a reality as innovative solutions break down barriers and drive financial inclusion at an unprecedented scale.

Telcos and technology companies are in a unique position to accelerate financial inclusion and create a more equitable financial system. Thus, they have a shared responsibility to bridge the access gap by leveraging their strengths in digital infrastructure, network connectivity, cross-border capabilities and customer reach.

Lost in that mumbo jumbo is techy sounding jargon is that they are developing a system that all people in all nations can use. Without so much as saying it, national currencies are in the way and need to, pardon the pun, buy into this new system.

More Acronyms To Hide The Truth

Well how do we get the world’s mover and shakers to get behind this new financial system? There is a thing that’s being implemented called Environmental, Social, and Governance (ESG) scores which the world banking systems are using to make these companies fall in line or else. So if a company, let’s say Target wants to keep getting the loans and financial access to banks they need to run their company they need to have a good ESG score. Environmental just means buying into the “green” energy logic. That one’s a little easier since that movement has been drilled into the collective world psyche for decades. Social score? Well that one is newer and could explain why they opened themselves up to boycotts over their pushing all the LGBTQIA+ agenda. And why companies like Bud Light, Cracker Barrel and even Tractor Supply Company started to run campaigns doing the same. You see that social score needed them to do that even if it meant tanking from customers bombarding them with complaints and then hitting them in the literal pocketbook by not buying their products. And by falling on the ESG sword, those bankers kept their companies afloat by still getting the funds as a reward. But that doesn’t affect us does it? Think again.

Social Scores Are Coming

If we just take a look at China, that bastion of freedom we see that citizens are “rewarded” for good behavior. The government issues credit cards to everyone and can then control their money. If you are seen at a protest against the government, well you get a mark on your social credit score and can’t use your finances to say buy gas or groceries for a time. If you jaywalk, again, you get marked and even have your picture on billboards to shame you. That sounds like it could never happen here in America. And yet it already is. Did you know that some conservative companies and Christian ministries have had their bank accounts closed by banks that deem their causes controversial or even worse a threat to society? Political movements are seeing their accounts closed as well as we see in an article from Newsweek.com:

Bank of America is facing calls for a boycott over allegations it is closing accounts of customers based on their political views.

Multiple MAGA profiles and Republicans have criticized the bank in recent days over claims, which have been denied by the company, that it is allegedly engaging in a practice known as "de-banking" because of customers' religious and political beliefs.

John Eastman, a former lawyer for Donald Trump, recently claimed his Bank of America and USAA accounts were closed in response to his attempts to help the former president overturn the 2020 election results. Eastman was recommended for disbarment from practicing law in March after a judge found his efforts to overturn the results of the 2020 results in favor of Trump had violated attorney conduct rules.

A number of pro-Trump and MAGA social media profiles are now calling for a boycott of Bank of America over the alleged de-banking.

The article goes on to note that Bank of America also gave access to the government the records of their customers who attended the January 6th rally in 2021, a clear violation of their privacy rights and something that

The letter (a response from Bank of America) came after Bank of America was said to have sent the FBI and U.S. Treasury private consumer financial data in order to assist with investigations into the January 6 attack at the Capitol in 2021, DailyMail.com reported.

In a post on X, Missouri Attorney General Andrew Bailey wrote: "Proud to be one of 15 AGs demanding answers from Bank of America for reportedly debanking Missourians.

"If any company is punishing consumers because of their political beliefs, that may constitute a serious violation of the First Amendment. We will get to the bottom of it."

Hopefully they will get some actions taken, but the very fact that it is happening is chilling.

Fight Like Daniel

Of course I’ll turn to the Bible for an example of a government that wants to come after your religious freedoms. Who will I pick? Daniel of course. He was very popular in Babylon and he did it without compromising his belief in God. Here is how the story goes:

It pleased Darius to set over the kingdom one hundred and twenty satraps, to be over the whole kingdom; 2 and over these, three governors, of whom Daniel was one, that the satraps might give account to them, so that the king would suffer no loss. 3 Then this Daniel distinguished himself above the governors and satraps, because an excellent spirit was in him; and the king gave thought to setting him over the whole realm. 4 So the governors and satraps sought to find some charge against Daniel concerning the kingdom; but they could find no charge or fault, because he was faithful; nor was there any error or fault found in him. 5 Then these men said, “We shall not find any charge against this Daniel unless we find it against him concerning the law of his God.” (Dan 6:1-5, NKJV)

The way they tried to trap Daniel was by making it illegal for him to pray to God alone, something they new was important to him and something he wouldn’t stop doing even it was illegal. We know that he not only didn’t stop praying, but he did it so anyone could hear him. Could he have just done it behind closed doors until the 30 day time period ended? Sure, but Daniel wasn’t about to do that. And as all you Sunday School scholars know, Daniel was thrown into the lions den to be killed for his faith. And you also know that the mouths of the lions were shut by angels and he survived. If you need a New Testament example read about how Peter and John refused to stop telling people about Jesus and having the gall to pray for people to be healed (see Acts 4:1-31). Obviously the move to control you and your movements was on display during the pandemic as clear as day for anyone willing to see it and that could have been the trial run for the one-world government. But as for me and my house, we will serve the Lord! He will supply all our needs if we continue to seek Him and His kingdom and righteousness first. And even if we are thrown into the lions den or a fiery furnace of the world’s making He will shut the lion’s mouths and protect us from the heat of persecution thrown our way. Yes, there will eventually be a government that controls the people of the world. But not on our watch.