Category Archives: The US and Bible Prophecy

James Rickards on Dollar Collapse & Euro as Future Reserve

This article is one of a three-part series based on my interview with James Rickards

Europe is Doing Everything Right, Euro Will Replace Doomed Dollar & EU Bond Market Will Trigger Dollar Collapse: Euro Will Replace Doomed Dollar
These articles were first published on my blog at blogactiv eu “EU vs. US: Commentary From the US.

Europe is Doing Everything Right

In a time of euro skepticism and criticism of E.U. affairs from many corners, James Rickards declared in an interview, “Not only is Europe doing a lot of things right, in fact, I think they are doing everything right.”

U.S. Economist James Rickards, whose expertise lies in international finance and who has consulted the U.S. Pentagon and assumed such roles during his 35 years on Wall Street as Hedge Fund and Portfolio Manager, and Senior Managing Director for Market Intelligence OMNIS, spoke favorably of E.U. decisions and its handling of its sovereign debt crisis during our interview.

Each juncture of the E.U.’s evolution from its implementation of the Common Market directives in the mid-1990s, to the launch of the euro in 1999, to the E.U.’s ability to remedy its sovereign debt crisis has been met by financial and political experts with skepticism.

The E.U. currently has 508 million citizens to the U.S.’s 314 million, and its economy is now bigger than the U.S.’s. In addition, the E.U. is the headquarters to 178 of the Fortune 500 companies. I asked James Rickards, “While all of these facts that are found everywhere why is the E.U. underestimated by experts?”

“It is underestimated by experts in the United States … There’s almost a kind of euro hatred in the United States. I don’t know what to say about it except that they have been wrong for a long period of time.”

“If you go back three years to 2011 or even to early 2012 you had very prominent economists like Nouriel Roubini, Paul Krugman; some of them were Nobel Prize winners, and they’re running around with their hair on fire saying, “The euro is going to collapse. Greece is going to be kicked out of the euro.”

“I was the one three years ago who said that’s was all nonsense nobody is getting kicked out, no one is quitting. In fact the Eurozone will add members over time and the currency itself is strong and getting stronger, and it has played out exactly as I described.”

“As a political project if the political will is there to succeed, then it will succeed because states are very powerful, and more powerful than markets.”

James Rickards further added, “When you look at important parliamentary elections or referendums their pro- European forces have not lost one and there is very substantial progress in the direction of European economic integration.” Rickards cited the fiscal and uniform banking regulations as examples.

Concerning the experts who were wrong in predicting the collapse of the euro, he stated, “They were not only wrong, but you don’t hear much from them these days, you certainly don’t hear Nouriel Roubini going out talking about the end of the euro because that’s certainly not happening… how could so many smart people-these people are not dumb they are trained economists, and they have high IQ’s – and so many market participants be so wrong?”

James Rickards authored Currency Wars: the Making of the Next Global Crisis .and the New York Times best seller, The Death of Money: The Collapse of the International Monetary System, which is an extensive reference work on the reasons the dollar will cease to be the world’s reserve currency. Rickard’s book provides an overview of the current landscape of the international monetary system.

James Rickards Favors Euro as Future World’s Reserve Currency

Erika Grey, Yahoo Contributor Network
U.S. Economist James Rickards’ New York Times best-selling book, The Death of Money: The Collapse of The International Monetary System, is an extensive reference work on the reasons the dollar will cease to be the world’s reserve currency and provides an overview of the current landscape of the international monetary system.

Concerning the dollar collapse, he stated that it is inevitable, and at this point he is “waiting for an avalanche or a trigger for it to come tumbling down.” In my interview with James Rickards, I asked him is there the possibility, of a role reversal between the E.U. and U.S. after the dollar collapse.

“Yes and it is certainly a possibility. I won’t say the only possible outcome, but it is a very strong possibility. The European monetary zone, the euro zone already is larger and more powerful than the U.S. except for the fact that its fragmented into these 18 separate parts. They’re moving very quickly to unification; they’ve taken large steps …. They’ve got more steps in preparation. So the more integrated they are the more they will look like what’s called a United States of Europe.”

During my interview, he made another prediction and became the first economist to answer the question, “What currency will replace the dollar?” James Rickards forecasts that if “A catastrophic collapse of the dollar does not take place the euro may replace the dollar anyway.”

“The fact that Europe is making structural changes others are not; Europe is attracting Chinese capital. Europe is unifying Europe is doing pretty much everything right, so over time the world may find the euro as a very attractive alternative to the dollar. Actually, the currency already is… the problem isn’t the currency; the problem is the investable assets. Anything can be a trade currency; the euro is a trade currency, … but a reserve currency is different to be a reserve currency you need a large pool of investable assets, things that I can buy and put in my portfolio, and that’s where Europe actually falls down today. …they are broken down into these 18 separate debt markets they don’t want to have a unified sovereign debt market. You can see that coming.”

Rickards also talks favorably of the ECB versus the U.S. Federal Reserve, which he speaks negatively concerning Fed decisions. He stated concerning the ECB, ” you have a central bank that actually sticks to what it’s supposed to do, which is to maintain a sound currency and maintain price stability and doing a very good job of that.

He speaks very highly of the euro and favors it because of its gold reserves. In talking about the system after the dollar collapse he predicts, “It is entirely foreseeable what the new system look like and who the powers are who will be sitting around the table.”

“One of the points I make is that you think of it as a poker game as a game … and I’m not saying were automatically going to have a gold standard, but gold will be your pile of poker chips and gold is going to determine whether you get a seat at the table or in the backroom sitting against the wall.”

“Interestingly Europe, the European monetary zone that backs the euro-the 18 countries …they have the largest pile of chips, they have over 10 thousand tons of gold. The United States comes in second, we have about 8 thousand tons of gold, after that believe it or not is the IMF, the International Monetary Fund, they have almost 3 thousand tons of gold.”

“China is playing a very interesting game, China officially says that they have 154 tons, they said in 2009, but there is very good data that they have secretly acquired thousands of tons of gold since then. That’s not some deep dark conspiracy, we can see that with hard data, we can see it in Chinese mining operations and Chinese imports through Hong Kong and sources, and these are all discussed in Chapter 9 and 11 of my book, The Collapse of Money, so it is all very well documented. You can put China for 3 or 4 thousand tons of gold at this point, and they are still acquiring more.”

“So the collapse is coming, it is completely predictable, gold is going to determine who gets the biggest voice in the new system. And Europe has the largest pile of gold, so they are going to be the biggest player in this reset.”

EU Bond Market Will Trigger Dollar Collapse
E.U. Bond Market Will Trigger Dollar Collapse

U.S. Economist James Rickards’ New York Times bestselling book, The Death of Money: The Collapse of the International Monetary System, is an extensive reference work on the reasons the dollar will cease to be the world’s reserve currency and provides an overview of the current landscape of the international monetary system.

In an interview with James Rickards, he stated, “Europe is doing everything right” and he predicted that the euro would most likely overtake the dollar as the world’s reserve. He added that to be a reserve currency rather than a trade currency the E.U. needs a “unified sovereign debt market.”

“And that’s where Europe actually falls down today. …they are broken down into these 18 separate debt markets. They don’t want to have a unified sovereign debt market. You can see that coming at which point once you take the integration a few steps further…and create this unified European sovereign debt market where the bonds are issued or backed by the full faith and credit of the Eurozone; then it will be in a position to displace the dollar.”

“The next step, the next thing coming is the creation of a true European sovereign debt market, they don’t have that right now. When the total amount of euro denominated sovereign debt is comparable to the US treasury market … the euro is positioned to displace the dollar as the global reserve currency.”

“The reason that has not happened so far is because while the total European sovereign debt is comparable to the U.S. treasury market, it is broken into separate markets: you have Italian debt, Spanish debt, German debt, Netherlands debt etc. It’s all denominated in euros, but it comes from numerous different issuers and not one of those markets is able to absorb the capital flows we see going into treasuries.”

“Now what will happen next is that Europe will agree that European sovereign debt going forward will be backed by the full faith and credit of the Eurozone. That is an enormously important development… The euro actually could displace the dollar as the leading reserve currency at that point. Germany is controlling all this. Germany has not wanted to do that yet.”

“Have you had a chance to look that over the Commission Green Paper on Stability Bonds?”

I have and this is coming, but Merkel’s playing a very tough game. She doesn’t want to go there right away because she thinks it would be too easy…t would let the Greeks, the Portuguese and the Irish, it would let them off the hook. She wants to see more structural reforms. She wants to see more economic adjustment, fiscal responsibility, improvements in labor laws, and improvements in labor mobility, etc. ….When she gets it then she will embrace this unified debt market that were talking about, but not yet because she wants to see more progress, but we are getting progress. This is moving in the right direction…This might be three or four years away. It’s going to happen, and I expect that it will… I think that you’ll see the Chinese, The Russians, Arabs the remainder of the BRICS, and other countries around the world flocking into European Sovereign Debt, and that will be extremely detrimental to the role of the dollar. That’s kind of best case that’s if we don’t have a crisis.

The US and Bible Prophecy: Warning For US President

Below is the article written for my blogtalkradio show that aired:

The US and Bible Prophecy: Warning For US President

Today I am going to read my letter to the President of the United States about what the United States can expect in these end times and during the Tribulation..  When I started this work over 24 years ago I came to understand information that was ahead of its time.   Once I grasped that the European Community was the final world empire foretold by Daniel the Prophet and the Apostle John,  Emotionally it felt  like I walked into the Twilight Zone. I understood what parts of end time prophecies were being fulfilled and knew how policies would yet evolve in the European Union.  While no one knows how politicians will work out the finer details or historical events which are yet to come, I understood the bigger picture.

The European Community-it was the EC then- headed under former Commission President Jacques Delors was still completing the White Paper to Complete a Common Market.  This is where each of the member countries agreed to eliminate the barriers to trade and travel  from country to country. This agreement by European Community leaders for a Common Market made the European Union the empire that it is today.  The Union at that time only had 12 members.

While the European Community members implemented the directives of the 1995 White Paper for Completing the Common market,  The press screamed that the European Community would not succeed at forming their Common Market.   As I was reading federalist proposals from their think tanks and also the writings from the EU’s mover and shakers at the time, It didn’t take a rocket scientist to see that the aim of the EU’s economic union was political, it was a first step to political union.  The second step the Union took, the media again screamed would fail and that was the launch of the euro, which became the world’s second largest reserve money after the dollar. The media again is screaming that the European Union’s financial crisis will end the euro and possibly end the European Union. Wrong, the European union will emerge stronger after this crisis.  The Maastricht treaty which established the euro did not give the currency the political teeth to it needed.  That is all changing and the European Union is working out those details and as a result the Union will emerge stronger as will its currency.  And after they do a tectonic shift will take place in the global pecking order and the EU will overtake the United States as the leading superpower. There are currently around  10 or more treaties that make up the European Union along with what is called the Single European Act. They started out with three treaties and one treaty builds upon the other to iron out their wrinkles.   The recent treaty Union leaders signed is called the Lisbon treaty.  There is coming  another  agreement and this one will give the European union its final stroke and render it a full fledged political entity. Each of the  As I already stated, I  knew what the Bible had to say and I knew what was ahead and the direction this thing was going. I did not know the details or the timing but I understand the big picture.   I can tell you from history that the media has been screaming for some time that the EU would fail at each of its endeavors and it has not failed.   We know from the Bible that the EU will evolve into the most powerful empire the world has ever known.

I read an article in the Economist magazine 1992 about the US having a concern about Japan and the CIA was keeping its intelligence eye on them.  The article stated that while it was Japan the US was concerned about  it was most likely going to be knocked off its pedastle by the European Community, it was not called the European union at the time. The name was changed by the Maastricht treaty signed in 1993. The article argued that the EC would end up having the greatest say in world institutions and thus make the decisions for the world.  This did not exactly happen as the writer theorized because the world institutions did not quite no what to make of the European Union and it has been written off as an agreement among nations.   That will change and I am not only speaking as a prophecy writer but also because I follow the EU and know the proposals that are coming down the pike and I also follow its think thanks and political parties and how they want to drive the EU forward.

I knew what the future  threat to US security was going to be.  It was as the Economist stated but did not happen as soon as the writer for the economist thought, but he made a brilliant analysis none the less.

I have followed and watched as each US president republican or democrat said that a strong Europe is good for America and they want the EU to share some of the burden the US has shouldered.   Many have asked about the US in Bible Prophecy, does the Bible mention the United States.  I believe Jeremiah 6:22, states concerning the battle of Armageddon and I do believe this verse refers to Armageddon, Behold a people comes from the north country and a great nation from the farthest parts of the earth.  Verse 23 lets us know they are coming for war and will come to Jerusalem, The verse starts, “they will lay hold on bow and spear, which lets us know they come for war.  The great nation from the farthest parts of the earth I believe is the United States. It  should be noted that the US is today often referred to as a great nation.  My letter to the US president takes into account what Bible Prophecy  teaches and what purpose I believe the US will have in sending in its ships, aircraft and troops to the battle of Armageddon. ,  Here is now my message to the US President.

Dear Mr. President:

The future threat to the United States will come from the European union, Is no one in intelligence paying attention to the EU’s democratic deficit. To the institutional power balance that weighs too much power in the center, of the fact that its key decisions are made in secret. Didn’t anyone in government take note decades ago when their leaders spoke of the EU’s hoped for revival of the Roman Empire. Doesn’t the US get the picture that they are building an empire? Even without the Bible’s predictions, as the old saying goes, absolute power corrupts absolutely.

The increase in natural disasters is not caused by global warming but it is the hand of the Almighty God and these are signs of the Lord of Hosts. More are to come and these will be significant enough to effect prices, markets, and budgets, be prepared.

Any US President is going to have a difficult time because of the perilous times we live, and which are yet ahead. I would not want your job. Pray for wisdom for your most difficult job that is before you.

A geopolitical Tectonic shift will occur in the global pecking order and the US will no longer be the world’s top banana.  With our nations deficit and the quantitative easing the dollar has been eroding as the world’s reserve, which you know allows our country to borrow at low interest rates.   Our being the world’s reserve will come to an end either via our dollar topple or because of the EU’s success at coming out of its crisis, it will solidify its political backbone and give the euro teeth, it will most likely issue its own bonds akin to our treasuries which will compete with our treasuries.   The United States will continue to partner with the EU and this partnership will deepen with the US adopting EU proposals and taking joint action.  There might even be an international currency or the US will adopt Euros and begin trading in them in the same way other countries adopted the dollar along with their currencies.

The nemesis is here, The Prince on the white horse, the son of Dan, the viper by the way, the scavenger lion. He has one focus in mind, he has one mission.    He knows what he must do. He has been appointed for his purpose he will bring this world to its end. Appointed by the Lord of Hosts, he is the wicked branch, the Son of the Morning, Lucifer, the morning star.  He is a man, a politician, he wears a suit,  He is getting ready to take his place. You shall stand alongside of him and not know him. Neither will you have eyes to see.  Your eyes will be dimmed by your countries perils and its nation’s agenda.

In the interim you will partner with the EU and its future president for trade and foreign policy purposes and you will be oblivious to the monster you are dealing with in the same way the world was in the dark to Adolph Hitler in his early years in power.  The man you will be dealing with is the Son of Satan, the Devil himself.  Israel will make a pact with him and the Bible tells us that it with Hell itself they are in agreement.

While it is predicted that one fourth of the world will die in the ruthless dictator’s conquest, I do not believe the US will be attacked because of the partnership.  Scripture tells us that when the Antichrist goes into the Nations, he gathers them as a bird gathers its chicks to its nest and they do not so much as let out a peep.  The Bible only tells us in Daniel 11: 40 that “many countries will be overthrown.We know that he enters and takes over Israel, Egypt. Libya and Ethiopia. We do not know how many other African nations The Antichrist will conquer or how many Middle East nations or even his armies will travel as far as India into South America, or Canada.

The future EU leader will ignite world war 111 and you will send your troops to the battle, which will take place in Jerusalem because the EU will control the middle east during this time, and will control Israel. This is the battle of Armageddon, the Day of the Lord spoken of by the prophets of God.   You will have no choice but to go to Armageddon to defeat this beast.  You will partner with Russia in your attack. China will also join this battle.  The reason that you will go to battle is because of the beast that emerges, he will declare himself a god and will make war with many nations and go in and overthrow them.  At the rumors of yours and Russia’s and China’s attack he goes forth like a mad man.

Your troops will go to fight in the battle of Armageddon but that battle will not only be fierce but will coincide with cataclysmic natural disasters such as an earthquake so catastrophic it will be off the Richter scale and will be felt around the world and will destroy entire cities. The sun is going to darken and the moon will turn to blood.  At that moment Jesus will return and the world as we know it will come to its end.

This Mr. President is what is in store for the United States and what you can expect in the days ahead.

This concludes my letter to the US president, which presents a clear picture to all of you, of the United States and Bible Prophecy.

For more episodes go to my radio show Prophecy Talk

The US and Bible Prophecy- Links For Prophecy Watchers

In my book the Seat of the Antichrist: Bible Prophecy and the European Union I state that in Bible Prophecy the Bible does not refer to the US as the leading superpower.  The books of Daniel and the Revelation describe the Roman Empire as becoming the most powerful world power the world has ever known.

The US will loose it superpower status as the EU gains position as the world’s leading empire. In my book a chapter deals with this very topic and this page’s links acts as a continuation of  that chapter and provides updates on the US’s position as a superpower as well as the US/EU relationship.

A Key area to watch is the US deficit because the deficit is so damaging to the strength of the US.   In addition the US dollar which has been a symbol  of US strength and prosperity.

UPDATES ON AMERICA’s STATUS 

CBS REPORT: WHERE AMERICA STANDS

ARTICLE: America’s Deficit, the World’s Problem

ARTICLE: America’s Empire is Bankrupt

WIKIPEDIA : United States Public Debt

 

Who owns American’s Debt

US FEDERAL DEFECIT AS PERCENTAGE OF GDP

National Debt

US Debt Clock

World Military Strength Ranking

Ranking of the World’s Health Care Systems  

CIA WORLD FACTBOOK

 

 US/EU RELATIONSHIP

European Union Delegation to the United States of America

United States Mission to the European Union 

European Council On Foreign Relations:Rewriting the EU/US relationship 

ARTICLE: EUROSDUVILLIAGE.Com: EU/US Relations Under Obama

Wikipedia: European Union-United States Relations

ARTICLE: European Dialogue: Expert: EU-US Relations Ripe for Lisbon Treaty Upgrade

VIDEO EU in the US: A Long Standing Partnership

ARTICLE EurActiv: EU WANTS A NEW ATLANTACISM

ARTICLE EurActiv: EU -US Lawmakers Eye New Partnership

 

DOLLAR WATCH 

US DOLLAR WATCH

US INFLATION CALCULTOR

For more on the US in Bible Prophecy buy my Book: The Seat of the Antichrist:  Bib le Prophecy and the European Union. 

Who Can Blame Putin For Signing Anti-US Adoption Bill?

 

Russian President Vladimir Putin signed a bill banning adoptions of Russian children by US citizens, which will go into effect on January 1, 2013, and already is terminating adoptions that are underway.   The US media reported that some families who are adopting special needs children are quite upset and that there is a concern for special needs children in Russia who will not get the care that they can get in the US.   But, the reason for the bill is that 19 children were murdered by their adoptive parents.   These are couples who could not have children and wanted children so bad that they adopted.

In addition, one parent sent a special need 7 year old back to Russian by himself on a plane with a note to keep the child.  This boy had severe emotional difficulties which should have been no surprise to the parent who adopted him out of an orphanage. Some of these children suffer from reactive attachment disorder, which is one of the most difficult behavioral disorders to deal with.

Instead of America being upset at Mr. Putin, it should look at its record for caring for its children.  The BBC’s article American’s Child Death Shame reports on the number of deaths of American children compared to other countries. Our record is shocking!

This article was written pre Newtown shooter and does not count the 20 children that are dead from that shooting alone.   We are outraged at the Newtown shooter and also at Putin for protecting his nation’s orphans after 19 deaths and one case of severe neglect?  Mr. Putin made the right decision for his nation’s children by signing that bill.  Maybe the orphans cannot get the care the US would offer, and that is only hypothetical.  What happened to the 19 murdered adopted children, they did not benefit from any care the US offers.   I hate to even imagine thinking of what they suffered at the hands of their adoptive parents before their lives were finally taken.

Instead of blaming Putin this is a wakeup call to the US.  The US should be walking the walk of shame for its deplorable record. From a prophetic viewpoint we are in the perilous times of 11 Timothy with all of its brutality.  The bad news is that according to the Bible it is going to get worse.

Instead of the US media focusing on Russia’s inadequately cared for special needs orphans who can no longer be adopted, it should be showing the memorials and teddy bears for Russia’s 19  murdered children.  Mr. Putin, you did the right thing!

 

Impending Doom for the United States

The United States is in a downward spiral.  Between the US deficit and economy, there is no hope in sight.   Add Bible Prophecy to the equation and it spells IMPENDING DOOM for the United States.  No matter which way you look there is no solution, the US is going down.  The amount of the US deficit, the printing of more money–a sure formula for the destruction of any nation’s currency–the US dollar is ready to tank.  There are no new jobs, spending is down, foreclosures and short sales in every community, no growth, retail and internet sales crawling, real estate sales at a near stand still, and non-stop government spending.

Fifteen percent of the US population is on food stamps,  One in six Americans are now at poverty level,  The government gives out  entitlements and dollars, which it does not have. The US poor can get financial assistance,  food stamps, cell phones, internet, utility assistance, low income housing, and health insurance.  The US poor are rich compared to the poor of banana republics.

The US is in a damned if it does and damned if it doesn’t dilemma.  If they cut a program it caused this, if they try to stimulate the economy it causes that. For each entitlement that needs to be cut, politicians protest, along with protests for tax increases.

Its impending doom for the United States no matter which direction you look, there are no solutions at this point, not when a downward spiral is in motion. The US is in a downward spiral, it is going down!   Too much money has gone out of the coffer for wars, defense programs, moneys to other countries, pension programs and program upon programs.

The natural disasters that are occuring at an unprecidented rate do not help matters as they require a good deal of unexpected funds.   No differant than when you are trying to make ends meet and your roof springs a leak or your vehicle needs a major repair.   So it is with the United States, just when the nation is struggling financially, unexpected diasters strike that require funding.

Think of the United States like the Titanic, it was the greatest ship of its time and many thought it was unsinkable.  The United States has been the greatest nation in the world and many Americans believe the US is too great to ever go down.  The US has hit an iceberg and is beginning to sink.   Like the Titanic, US citizens still believe help is on the way, in the mean time the US is going down.  Like the Titanic there are not enough life boats.   The Carpathian of world empires will come along and try to keep the US from suffering from total collapse of its dollar and economy.  Like the Titanic, a great deal of wreckage will be left behind. With the collapse of the US dollar will come a shift in the global pecking order which will mirror the prophetic picture relayed by the prophet Daniel and John in the Revelation and bring us closer to the start of the Tribulation.