ICG, LCG, and BP on the Economic Turmoil

The Strength of Dollars Have Long Been Part of the “Pride of the Power” of the USA

In the past couple of days, several affiliated with the COGs have commented about the current financial turmoil.

Here is what ICG’s Mark Armstrong sent out last night:

News has it that the Federal Reserve is in a full-fledged crisis mode, moving rapidly to try to shore up America’s largest financial institutions. It’s being called the boldest action taken since the Depression. The stock market is nervous, recording wild volatility as investors bet on whether liquidity manipulations will stabilize the situation. This week has seen the collapse of Carlyle Capital, a $22 billion mortgage hedge fund, leading to concern over the viability of one of Wall Street’s top five banks, Bear Stearns.

Today’s Wall Street Journal carried the following unnerving quote, “The involvement of the Fed — coordinating with the Treasury Department and the Securities and Exchange Commission – made clear authorities were concerned about the risks to the broader financial system.”

This comes in the wake of what’s been called a “meltdown” in the largest of the Federally guaranteed mortgage institutions. The dollar is losing its international value at a frightening pace, as it is constantly devalued alongside other currencies, including gold. and we are all watching it lose it’s domestic value as well as our basic necessities soar dramatically in price. Milk, eggs, butter, chicken, bread, have posted price increases in excess of 40% over the past year alone, and according to near unanimous agreement among experts, this can be attributed to the idiotic idea that our farm produce should be converted into ethanol. And that wrong-headed idea stems in large degree to the political clout of the environmental movement that is so self-important that it thinks that it can “save the planet” at the expense of its inhabitants.

America has turned its back on God, religiously and socially.

Here is some of what LCG’s D. Winnail sent out:

The beautiful blossoms of spring are beginning to burst forth here in Charlotte. However, political, economic and weather-related storm clouds continue to gather on the global horizon…

Grain and food commodity prices are increasing because of high energy costs, the shift to bio-fuel production, droughts, and the increased global demand for breads and cereals…Last year, wheat prices nearly tripled worldwide, while consumer prices for bread increased by about 50%. Other crops are also more expensive, including sunflower seeds, soybeans and canola—all major sources of cooking oil. Grain prices are forecasted to continue rising for well over a decade, while some suggest that to raise adequate amounts for everyone, we would “need another two or three globes to grow it all” (New York Times, March 8, 2008). Rising food prices are expected to lead to more starvation and anarchy in developing nations, while wealthy nations want to hold onto bio-fuel goals that suppress food availability (International Herald Tribune, March 6, 2008). God warned of hyperinflation and scarcity at the end of the age, especially related to grains and oil. “A quart of wheat for a denarius [day’s wages], and three quarts of barley for a denarius, and do not harm the oil and the wine” (Revelation 6:6). Will we see food grown in the U.S. “bread basket” sold abroad because it is more profitable, instead of being consumed at home?

And here are some comments from an email I received this morning from Bruce Porteus of New Zealand:

For years the USA and the other Anglo-Saxon countries have lived beyond their means, relying on borrowing money from overseas creditors to finance their domestic consummation and military adventures abroad. Domestic saving in the Anglo-Saxon nations have declined to almost zero, as a greater percentage of income is absorbed into serving debt to international bankers. To maintain growth in the US economy, the Federal Reserve has continued to expand the money supply (print money) to allow the banking system to lend funds to stimulate domestic spending. Under normal circumstances, this would be inflationary, but as the USA has exported these “created” dollars to finance its imports, the inflationary effect on the USA has been minimal to date. This is about to change…

This past week we have seen the economic collapse of the US dollar and America gain momentum. The average citizen still has not fully comprehended what the impact of the collapsing dollar will have…

We are now entering the time when there will be no more tricks to pull of the Fed’s bag, and we can solve our problems by creating money. The economic collapse of the Anglo-Saxon nations could be sudden and have disastrous consequences upon our people. It will be the precursor for the time described in the Bible of great tribulation.

As I have written before, I believe we may be close to the time that Jesus referred to as the “beginning of sorrows” (Matthew 24:8).

Americans have long been proud of their dollar, but this is going to change (Leviticus 26:18). And when crop failures also hit here (Leviticus 26:19-25), then watch out!

Habakkuk teaches:

2 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…
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 2:2-3,6-8).

The USA is the most debt-ridden country now in the history of the world having loaded itself up with T Bills and other “pledges”. And while it has not happened yet, the appointed time (which is also discussed in Daniel 11) is coming when complete disaster will be here.

Several articles of related interest may include:

Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies 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?
End of Mayan Calendar 2012–Might 2012 Mean Something? There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans and the Hindu Indians (who were not even on the same continent). Do these Mayan/Hindu/Hopi prophecies have any value? Why might Satan have inspired this date? Can the great tribulation start before 2012?
Two Horned Beast of Revelation and 666 This article explains how the Living Church of God views this, and compares this to Ellen White.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”?