IMF Warns of Possible Dollar Collapse
The following news item was of interest:
IMF warns of abrupt dollar fall
Financial Times – Oct 22, 2007
The dollar hit a record low against the euro on Monday as Rodrigo Rato, managing director of the International Monetary Fund warned that the US currency could suffer a dramatic fall that would shake confidence in American assets.
The outgoing IMF managing director said the depreciation of the dollar had been orderly, but cautioned there was a risk of a runaway sell-off that would hit growth in major economies. http://www.ft.com/cms/s/fe12cdc8-80cc-11dc-9f14-0000779fd2ac,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Ffe12cdc8-80cc-11dc-9f14-0000779fd2ac.html%3Fnclick_check%3D1&_i_referer=http%3A%2F%
The time of the dollars’ collapse is not immediate.
Eventually, though, the world will run to Euros, oil, and probably preciously metals when the financial markets get shaky because of the overwhelming US debt. This eventually will lead to the fulfillment of prophecies in Habakkuk such as:
“Write the vision
And make it plain on tablets,
That he may run who reads it.
3 For the vision is yet for an appointed time;
But at the end it will speak, and it will not lie.
Though it tarries, wait for it;
Because it will surely come,
It will not tarry…
6 “Will not all these take up a proverb against him,
And a taunting riddle against him, and say,
‘Woe to him who increases
What is not his–how long?
And to him who loads himself with many pledges’?
7 Will not your creditors rise up suddenly?
Will they not awaken who oppress you?
And you will become their booty (Habakkuk 2:2-3,6-7).
No country on earth has ever loaded itself with more “pledges” (promises to pay debt) than the USA.
And it may well be that when the effects of weather difficulties severely affect the production of food/grain crops in the USA, that the creditors of the world will realize that the USA is NOT going to be able to pay back its massive debt.
But what about the Euro?
Now while Europe is also having some financial and weather issues, Bible prophecy indicates that it will rise while the USA will fall. Investors still are staying mainly in the US dollar, but that will eventually change.
And although the Euro will have some rough times ahead (see the article The King of the North), eventually it or something similar appears destined to dominate the world financial scene.
Two articles of possible interest may include:
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation?
Modern Nations and God’s Ancient Plan Many peoples are mentioned in the Bible. And other than the fact that the nation of Israel represents the ancient kingdom of Judah, do you know who any of these people are now?
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