"The international monetary system has failed"

The bible shows us that by the time of the first judgments of the tribulation which are the four horsemen, that currency is worth next to nothing for most people. The third horseman is the one carrying the scales in his hand, with the angel saying that a loaf of bread costs a day’s pay.

“When the Lamb opened the third seal, I heard the third living creature say, “Come!” I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “Two pounds of wheat for a day’s wages, and six pounds of barley for a day’s wages, and do not damage the oil and the wine!”(Rev 6:5-6) I believe that the scales are held aloft to show the relative value of currency and food. The only thing that matters, practically, for our fleshly body is food and water. Without either, one cannot live. Yet the fourth seal judgment is death and one of the ways of death is famine.

“When the Lamb opened the fourth seal, I heard the voice of the fourth living creature say, “Come!”  I looked, and there before me was a pale horse! Its rider was named Death, and Hades was following close behind him. They were given power over a fourth of the earth to kill by sword, famine and plague, and by the wild beasts of the earth.” (Rev 6:7-8)

Imagine toiling all day just to buy a loaf of bread to feed your family! Imagine further that your daily toil only earns you a few dollars, or perhaps many dollars but it takes a wheelbarrow full of them to buy that one loaf. Currency is so devalued by the time the first set of judgments come around that it is for all intents and purposes, worthless. But we are told that the currency will be worthless, “Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal.” (Mt 6:19) and “Your wealth has rotted, and moths have eaten your clothes.” (James 5:2)

Wealth is rotting! Worthless! Has no buying power! We’re almost there!

Ireland is failing. A bank run this weekend cost 10 bn. “There was a bank run in Ireland on Wednesday. LCH Clearnet, a London based clearinghouse, surprised the markets by announcing it would increase margin requirements on Irish debt by 15 percent. That’s all it took to send investors fleeing for the exits. Yields on Irish bonds spiked sharply as banks tried to close positions or raise the capital needed to meet the new requirements. The Irish 10-year bond soared to 8.9 percent by day’s end, more than 6 percentage points higher than “risk free” German sovereign debt. The ECB will have to intervene. Ireland is on its way to default.”

French citizens are calling for a bank run. In this google-translated article:
‘French activists call for a Europe-wide and joint account termination on 7 December 2010. “Everyone should get his money from the account.” What does this protest? In France the last few weeks has been enough protest. Since demonstrating in the street have brought us nothing we understand that the real power lies in the hands of international banks and corporations. All citizens of the country resolve your accounts in cash. The activists suggest, one can first put the money in a suitcase or invest it in a social bank.
So far 7000 people have signed up.'”

Greece’s debt load is staggering, more than even previously suspected: “The ratio of deficit to GDP for the country is the highest in the eurozone and the EU as a whole, even though Ireland is in 2010 expected to leapfrog Greece due to the cost of bank rescues. The country’s overall public debt meanwhile amounted to 126.8 percent of GDP, also up from the 115.1 spring estimate from Eurostat.”

In the US, we are not doing so well either. “Regulators Closed Three Banks, Bringing the Total Number of Bank Failures in 2010 to 146“. On Friday, Federal and State regulators closed another three banks, two in Georgia and one in Arizona, as the total number of bank failures this year rise to 146, surpassing 2009 which saw a total of 140 bank failures. The three failed banks had assets totaling $1.0 billlion and are estimated to cost the FDIC a total of $204.4 million.”

There is a currency war going on right now among the top nations of the globe, the Daily Star reported. “Currency now seems to have become a new “weapon” in the arsenals of developed and emerging economies. Earlier it was “tariff,” which was used by different nations to regulate the direction of trade. So now we are witnessing “currency war” instead of “tariff war.” US has been saying for some time now that China needs to revalue it currency. It blames the artificially devalued Yuan as the main cause for its enormous trade surplus and consequent economic growth. US also wanted a concrete timetable to remove trade imbalances and asked trade surplus nations to take steps to reduce their surplus. Economic theory says that when a nation devalues its currency, all other variables remaining constant, its exportable becomes cheaper, which boosts export earning. Alternatively, instead of devaluing, a country can prevent the currency from rising in value. The US Federal Reserve is accused of trying to devalue the dollar to boost exports. China, Brazil, South Africa and Germany stiffly opposed the move and pointed out that the attempt by the US Federal Reserve to inject $600 billion in the US economy will effectively devalue the US dollar. That, they say, will have terrible implications for the world economy. Other countries will also be tempted to devalue their money to protect their industries and exports. In fact it will start a “currency war,” from which no one will gain. The Federal Reserve says it is “quantitative easing” (QE) to spur growth.”

 The Telegraph UK’s article “How the Tea Party is brewing up trouble for the world’s currencies” they wrote something VERY interesting:

“The Seoul summit, with its botched compromises and unresolved differences, has only underlined the problem. It acknowledged that there is a growing tension between nations over their currency policies, but revealed that no one can agree on what to do about it. It stopped short of banning competitive devaluation, or setting limits on current account deficits or surpluses, instead retrenching to tried-and-tested phrases from previous agreements. It isn’t merely that the summit failed to come up with any decent solutions: it failed to diagnose the problem itself properly. The fact that countries are becoming aggressive about currencies is merely a symptom of a far deeper issue: that the international monetary system has failed, and there is no one willing or able to come up with a reconstruction job.”

Yes, the international monetary system has failed. Rev 6 shows us that. It is interesting that the first seal is the antichrist loosed upon the world. The third seal is the devalued currency and worthlessness of its buying power. However, there WILL be one person able, willing, and prophesied to step up to the job: the antichrist. By Revelation 13:15-17 the False Prophet is putting the mark on people, the mark of the Beast, without which no one can buy nor sell. And where power exists of determining who may “buy and sell,” there is absolute control over the wealth of the world.

And we are almost there. If economists are saying that the international monetary system has failed, and is actively looking for someone, anyone, to step up and fix it, you know that the antichrist is about to ride. And before he rides, we are taken off this earth and into the arms of Jesus. Lord, soon come!
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