There are signs of financial and economic disaster on the horizon for America. In a recent article the Chinese gave a stern warning to America about printing money. The result will be inflation and China will lose value on the two trillion US dollars they hold in reserve. China and several other nations have been calling for a new reserve currency, they feel it is the only way to protect themselves from the damage that will be caused by the inflation of the US dollar.
Word now comes that US government will borrow nearly 40% of what it spends in 2010. It is not hard to realize that America is headed for disaster. With the tremendous debt they already have and with falling confidence in the dollar, what happens, if as is likely, the nations refuse to fund America's debt? The US will be forced to print more money and that will bring about inflation that will destroy the American economy and drive others further away from the dollar.
The Telegraph states, In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.
It added that the present system, under which the dollar acts as the world's reserve currency , should be subject to a wholesale reconsideration.
Although a number of countries, including China and Russia, have suggested replacing the dollar as the world's reserve currency, the UNCTAD report is the first time a major multinational institution has made such a suggestion.
The future of the American dollar and the stability of the US economy are somewhat clouded by these developments. Mr. Obama`s policies toward Israel have put Israel`s very existence in jeopardy. Mr. Obama is inviting the judgment of God to fall upon his country. The judgment of God may fall on America in the near future for their treatment of Israel and that judgment could be economic in nature. I would not be a surprise if along with economic chaos the collapse of social order were to follow. Troubling times may lie ahead.
Bible prophecy makes no mention of America in the end time scenario. The fact is that America is so powerful both militarily and economically that she is in the way of the unfolding of end time prophecies. It seems that we are looking at an inevitable judgment soon to befall the US. Bible prophecy will be fulfilled, we ignore it at our peril.
I submit to you that we stand on the threshold of a disastrous situation for our society, and that we stand on the threshold of the Rapture of the Church. Which will come first ? Only the Lord knows. We need to live in the light of these things.