Forbes: Fed policies “have explicitly failed.” COGwriter: It is worse than Forbes portrays.

Janet Yellen, Federal Reserve Chair

Forbes has the following:

In congressional testimony last week, newly minted Fed Chairman Janet Yellen ably revealed why the central bank she runs is often such an imposing barrier to economic progress…

Responding to Sen. Tom Coburn’s skepticism about the Fed’s zero rate policies, Yellen said “The reason we have low interest rates is to deal with a very real problem, namely the economy is operating significantly short of its potential.” Where does one begin?

What an admission from the new Chair of the world’s foremost central bank. Indeed, if we accept for a moment the silly idea that the Fed should be responsible for economic growth, and Yellen accepts just that, her response to Coburn was an explicit acknowledgement that the Fed’s policies these last several years have gifted us with an economy that is “operating significantly short of its potential.”

Implicit in a zero rate of interest vainly set by the Fed is that yes, its economic program hasn’t worked. Why else, if we’re looking through the Fed’s blurry economic lens, would the rate be at zero unless the Fed’s policies had explicitly failed? http://www.forbes.com/sites/johntamny/2014/07/23/its-not-just-janet-yellen-richard-fisher-misses-the-point-of-monetary-policy-too/

The situation is much worse than the Forbes’ article portrays. While it can be argued whether (or how much) near zero interest rates truly help or hurt an economy, the reality is that the bigger problem is the amount of debt that the US government and the Federal Reserve have created.

The US Federal Reserve created a series of programs called quantitative easing (they have been numbered as QE1, QE2, and QE3). These programs have made USA interest rates artificially low by, instead of just borrowing from regular creditors, the US Federal Reserve essentially pretended to borrow money by electronically printing it up and at the same time getting US Treasury notes to supposedly back up what it printed. While other countries could not get away with this for long, because the US dollar remains the world’s reserve currency, it has, for now, appeared to have gotten away with it. This will not last forever (see, for example, Economist blames US dollar for global crisis and calls for the end of its dominance) and the creation of such ‘dishonest profits’ will come back to haunt the USA.

The Bible teaches the following:

13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. 16 You shall defile yourself in the sight of the nations; then you shall know that I am the Lord. (Ezekiel 22:13-16)

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…5 Indeed, because he transgresses by wine, He is a proud man… 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. 8 Because you have plundered many nations, All the remnant of the people shall plunder you (Habakkuk 2:3,5,6-8).

It is the the United States and its Anglo-allies that have loaded pledges of debt in these end times that they really do not expect to pay back. In that respect they have recently plundered many nations. And while much is owed to nations such as China, Japan, and the Arab World, the Europeans have trillions of dollars invested in the USA–money they may be disappointed to have devalued. Enough so that they may divide the land among themselves and other creditors (cf. Daniel 11:39; Habakkuk 2:6-8).

Many will dismiss this and conclude that since the USA has been able to increase its debts that this will be able to go on forever, despite what the Bible says. Those who doubt the Bible will be proven wrong. That being said, it is likely, because of the USA dollar’s position in the world, that it will take a combination of events for creditors to rise up.

As of April 2014, officially, the total national debt in the United States was $18.527 trillion (106% of the GDP). In other words, the US federal government owes more than the entire USA economy produces annually.

Currently, the US federal government brings in about $2.5 trillion per year in taxes and other revenues. The time will come when interest rates will rise. If they rise to a level like 10-15% and federal revenues remain about the same, this means that all money from taxes, etc. that the USA federal government brings in will simply go to paying interest. This means that the USA will have to borrow for ALL of its governmental expenses (military, federal agencies, welfare support, etc.). This will not bode well for the USA.

Once interest rates get too high, the USA will have an economic crisis of unbelievable magnitude. Worse than I believe that Janet Yellen or Forbes has considered.

Federal Reserve officials and others may wish to consider studying the following prophetically-oriented writings:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Hillary Clinton in Prophecy Prophecy, Hillary Clinton? Are there prophecies that Hillary Clinton may fulfill? Are there any prophecies that she has already helped fulfill? Could Hillary Clinton be apocalyptic? Could Hillary Clinton be the final Antichrist?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future.
Protestant and Church of God views of the United States in Bible Prophecy Is the USA mentioned in Bible prophecy? Some Protestants say yes, while others say no. What does the Bible really teach? Learn the truth about this. There is also a video available: Is The United States Mentioned In Bible Prophecy?
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? You can also see a YouTube video sermon The Gospel of the Kingdom.
Just What Do You Mean the Kingdom of God? A booklet that was written by Herbert Armstrong answers questions about the Kingdom.
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.