Currency wars being considered

World Currencies

Potential currency wars are a topic of major international concern this week:

10 February 2013

PARIS- The strength of the euro, the state of the global monetary system and controversy over a so-called “currency war” will dominate the economic stage at eurozone and G20 ministerial meetings this week.

The currency issue has been revived by Japan and is beginning to cause concern in some quarters in Europe…

France wants the eurozone to arm itself with a policy for the foreign exchange rate. The external value of the euro should not be left to market forces of the moment, French President Francois Hollande has argued…

Rich countries, forced to contain or reduce debt, are injecting huge amounts of money into their economies to support activity.

Leading central banks have used various levers to this end, notably the United States. The Japanese government has just convinced its central bank to go down this road in an attempt to arrest a deflationary spiral that has sapped its economy. http://business.inquirer.net/106895/currency-wars-back-on-international-agenda

As debate about potential currency wars heats up, commentators including myself have called out the likely losers…the currency market is a zero-sum game – as one currency declines, another must go up…Now I know that some will point to gold being money and the ultimate winner of the race to the currency bottom…The safe haven status of the Australian dollar, Canadian loonie and Norwegian krone will be under threat…I’m not optimistic on a U.S. recovery…Many argue that the Chinese yuan is undervalued and will inevitably appreciate in future. Particularly as other countries seek to become more competitive by devaluing their own currencies. But I couldn’t disagree more with this assessment. http://asiaconf.com/2013/02/08/who-will-win-the-currency-wars/

On Feb. 8, the nation of Venezuela became the 8th country to enter into the global currency war as it devalued its currency by 46% in an attempt to halt inflation and rising prices. Venezuela now joins Japan, Germany, the United Kingdom, South Korea, and three others in the race to the bottom in an attempt to push up exports, and fix their recessionary economies.

While the rest of the developed world is scrambling here and there, politely prodding its central bankers to destroy their relative currencies, all the while naming said devaluation assorted names, “quantitative easing” being the most popular, here comes Venezuela and shows the banana republics of the developed world what lobbing a nuclear bomb into a currency war knife fight looks like http://www.examiner.com/article/venezuela-becomes-eight-country-to-enter-into-currency-war-with-new-devaluation

Here is a more radical assessment of this by a source quite outside of the mainstream news:

Currency war, (World War C) also known as competitive devaluation, is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their own currency. As the price to buy a particular currency falls so too does the real price of exports from the country.

Imports become more expensive. So domestic industry, and thus employment, receives a boost in demand from both domestic and foreign markets.

However, the price increase for imports can harm citizens’ purchasing power. The policy can also trigger retaliatory action by other countries which in turn can lead to a general decline in international trade, harming all countries.

Brazilian Finance Minister Guido Mantega, widely credited with coining the term “currency war”, further warned yesterday that the global situation could get even worse if Europe joins the fray, and which this MOF report warns the will have to do in the “very near future.”…

Richey says, for the US Federal Reserve, the Swiss National Bank, the Bank of Japan, the Central Bank of Brazil, and the People’s Bank of China, all of whom have been very interested in the relative valuation of their currencies. And this is a list that matters because three of the top five global currencies are represented on that list and all of them have been engaged in competitive devaluations of their currency in order to promote their own exports…the US propaganda media is failing to alert the American people to the shattering of their economy…http://www.whatdoesitmean.com/index1656.htm

The economies of the world will change.

The current world order with the USA and the Anglo-descended nations will change–and this is starting to happen. Furthermore, a power in Europe will control much of the world’s economies for a while–and some of the steps for this to occur have already happened. And eventually, after massive devastation (the Great Tribulation and the Day of the Lord), Jesus will return and establish His kingdom.

And Jesus will return relatively soon–but not until at least 2020.

But before then, we may see serious currency wars that could impact the world economy. But have no doubts about it, the USA is engaged in a currency devaluation scheme with its “quantitative easing” program where the US Federal Reserve “creates” about $85,000,000,000 is USA currency each month, along with the approximately $60,000,000,000-100,000,000,000 created each month by the increasing USA federal debt.

Here are some comments related to the future of the USA dollar from my book Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term:

The Bible clearly warns against cheapening the money supply and encourages having it hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Barack Obama’s policies, following certain other administrations, have ignored these warnings.

Furthermore, the time will come when the U.S.A. government will no longer be able to borrow at low interest rates and/or it will create more money electronically and/or via the printing press to try to continue. Massive inflation is coming. Make no mistake about it, the U.S.A. dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19)…

The U.S.A. lost its “AAA” credit rating during the Obama Administration. The credit rating for the U.S.A. will drop further (though it could temporarily improve).

When the U.S. dollar is no longer the de facto reserve currency for the world, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the U.S.A. for (cf. Ezekiel 22:13-16). Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, and not in Barack Obama’s second term, the U.S.A. dollar will become worthless…

It seems since many are now questioning the role of the U.S. dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in U.S. dollar terms. When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer. The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies.

Having the European power acquiring a lot more gold to back the Euro (even if the backing is only implied) or possibly other future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe.

The financial policies of the Obama Administration (which are a massive acceleration of the previous policies of the Bush Administration) are heading the world into the direction that something other than the U.S. dollar will be valued as its reserve currency. (Thiel B. Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term. Nazarene Books, 2013, pp. 15,67,133)

Some in Europe are already concerned about what the USA is doing to its dollar and the impact that this is starting to have on the Euro. The USA, and certain other nations, are on a slippery slope with their direct and indirect currency devaluations and this will not end up well for the USA or its Anglo-descended allies.

For some items of possibly related interest, please check out the following:

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?
Did The Early Church Teach Millenarianism? Was the millennium (sometimes called chiliasm) taught by early Christians? Who condemned it? Will Jesus literally reign for 1000 years on the earth? Is this time near?
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”? What is ahead for Europe?
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?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British-English, Scottish, Welsh, Australians, Anglo (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 nations? Why might God allow them to be punished first?
Will the Anglo-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?
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.
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?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? When does the six thousand years of human rule end?
Can the Great Tribulation Begin in 2013, 2014, or 2015? Can the Great Tribulation begin today? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord?
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.