Gold, Europe, and the US Dollar
Gold bullion
A reader sent the following from a Swiss America newsletter:
August 12, 2019
Now that it seems to be open season for central banks in Europe to begin buying gold, the ECB still has an input on the subject, saying its governing council update, also 26th July, that the decision not to renew the CBGA “is without prejudice to each national central bank’s competences regarding the management of its own gold reserves.” …
The CBGA member press releases acknowledge the eagerness to buy gold, saying that “central banks and other official institutions in general have become net buyers of gold” and that “the signatories confirm that gold remains an important element of global monetary reserves, as it continues to provide asset diversification benefits.” The Swiss National Bank press release adds some flavor claiming that the “gold agreement [is] no longer necessary due to changes in market conditions and in central bank activities.”…..
If everybody in the 1% including now almost all of the Central Banks are buying and holding gold to protect against a falling dollar – how do you protect yourself? …
By Not Renewing The CBGA, Central Banks In Europe Are Ready To Buy Gold
by Tyler Durden – Sun, 07/28/2019 – Submitted by Ronan Manly
Last month, a BullionStar article titled “The Fifth Wave: A new Central Bank Gold Agreement?” brought your attention to the fact that the fourth and current round of the Central Bank Gold Agreement (CBGA) run by a cartel of heavyweight central banks in Europe was about to expire …
Open Season on Gold Buying
While waiting for word from the European Central Bank (ECB) about a fifth CBGA, the conclusion here last month was that:
“Given that the whole CBGA scheme was a cover whose main purpose has already been achieved, there is no compelling logic for a fifth CBGA, except of course unless there have been further physical gold flows out of western central banks which need to be squared off in the books.”
Well, we don’t have to wait any longer, since the ECB, Swiss National Bank, and Swedish Riksbank have all issued coordinated press releases dated 26th July, confirming that there will not be a fifth central bank gold agreement when the current agreement expires in September 2019.
The same reader also sent a link to the following:
August 12, 2019
The U.S. dollar is the strongest major currency, by far. The demand for it in these uncertain times is massive. This becomes especially evident when realizing that the Treasury pays the highest interest rates of all developed economies.
The dollar is TOO TRUSTED (hard to believe).
Russia has jumped ship, though, and will soon prove that it can stabilize its currency using gold reserves. China will attempt to break loose of the dollar in the next 5-10 years and by 2029, once millennials’ peak employment is reached, the U.S. will not have the same status and empire symbolism it still possesses. It will stagnate.
This decade (2020-2029) marks the transition and some people will benefit greatly from it, while others will lose a fortune. We stand to greatly benefit, by owning metals. https://www.kitco.com/commentaries/2019-08-12/Keep-Cutting-Morons-Watch-Gold-Go-Straight-Up.html?utm_source=spotim&utm_medium=spotim_recirculation&spotim_referrer=recirculation
For the next few years, gold prices will tend to rise and fall in relationship to the US dollar. Gold prices are currently at historic highs in some currencies other than the US dollar.
As far as the Europeans go, last month it was reported that Poland accumulated 100 tons of gold this year (https://www.zerohedge.com/news/2019-07-08/poland-joins-hungary-huge-gold-purchase-and-repatriation)
I have long believed that Europe will one-day have some type of gold-backing for its currency (and published about that back in 2009).
After the US dollar is gone, the Bible shows that Europe will dominate international trade and finance, and this will involve gold (cf. Daniel 11:37-43; Revelation 18).
The Bible shows that the European King of the North will end up with gold. Notice something that I wrote about this in my 2017 book Donald Trump and America’s Apocalypse:
Donald Trump’s foreign policy statements have unsettled many—in the U.S.A. as well as foreign nations. He seems like he will more unpredictable than Richard Nixon.
There is also something referred to as the “law of unintended consequences.” There are consequences for the U.S.A., Europe, and elsewhere that have and will occur because of Donald Trump’s statements and actions. …
Daniel 11:43:
43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; also the Libyans and Ethiopians shall follow at his heels.
The “he” is the King of the North. This is the same King of the North that valued gold and silver in Daniel 11:38. Although other scriptures also show that gold and silver will have value around this time (like Revelation 18; 9:20), the Bible is clear that gold and silver will be worthless for a short time before Jesus returns, e.g. Ezekiel 7:19.
The fact that the King of the North himself will accumulate gold (and some silver) is consistent with several Byzantine (“Greek” Orthodox) prophecies of their expected Great Monarch:
Emperor Leo the Philosopher (died 912): You will amass gold…And you will be the leader of the surrounding nations…
Addressed to Emperor Manuel II Palaeogous (died 1425): The Emperor…will discover gold and silver…
Saint Andrew Fool-for-Christ (c. 4th century): God will reveal to this king all the gold wherever it happen to lay concealed from view…
One side note is that, in Egypt, major gold deposits were found in 2006. This is relevant as it does prove that Egypt now has enough gold that a foreign power could be interested in taking/using it as Bible prophecy teaches.
Since many are now questioning the role of the US dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in US dollar terms.
It has been proposed that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”
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 USA dollar will shake a lot of the world’s confidence in non-gold backed currencies.
The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar.
Having the European power acquiring more gold to back the Euro or possibly another 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, even if the backing is only implied.
The debt accumulation policies of the Obama Administration, which are a massive acceleration of the previous policies of the Bush Administration, look like they will be continued by Donald Trump.
The increases in America’s debt are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.
A Donald Trump Administration would need to make massive changes to possibly prevent this.
The USA and its dollar are at serious risk.
The Trump Administration did increase US debt since that writing was published (which was a day or two before Donald Trump took office).
And even Germany is getting more gold. And yes, there will be reorganization in Europe (Revelation 17:12-13; see also Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations?).
The time will come when the USA dollar will be worthless and gold will be even more valuable.
The Russians and Chinese have been making gold moves (watch US Dollar being challenged by Gold-Petro-Yuan). Russia and China are working towards a world where the US dollar is not the world’s primary reserve currency and a world where gold rises up (see The End of US Dollar Dominance).
Here are some items from the old Plain Truth magazine, as well as scriptures and comments, about gold.
Because the USA was starting to not have enough gold to back its dollar, way back in 1961, the Plain Truth reported:
Germany, Japan have the largest surpluses of GOLD and DOLLARS…Rich Uncle {Sam} has the greatest deficit in governmental history and a GREATER DEBT than all the REST OF THE WORLD COMBINED!…
Vast foreign aid programs drain the U.S. Treasury … American spending to supply services and to support our troops in foreign countries and military installations around the world amounts to…dollars flowing out of the frightened U.S. Treasury. All of these factors, combined with heavy taxes, gigantic public and private debt, and no gold backing for our own currency if foreign investors demanded gold for their dollars, adds up to the staggering revelation that the U.S., richest nation in the world, is bordering on bankruptcy! (Hill DJ. What the US Gold Crisis Means to You. Plain Truth. February 1961, p. 9).
Back in 1971, the Plain Truth mentioned gold and that a currency coming out of Europe would replace the USA dollar:
FOR 40 YEARS, (1931 to 1971) the American dollar reigned supreme in world trade and finance. From 1945 to 1958, the dollar was considered better than gold to most developing economies…
On August 15, 1971, President Nixon revealed his new economic plan. One part of the strategy was to cut loose the dollar from gold, in effect letting it “float” in foreign transactions until natural market pressure would decide its best value…
The European Common Currency appears to be the most likely successor to the dollar in this long line of monetary dynasties. Europe is the only continent with sufficient gold backing…
… and What About Gold?
The gold standard is not sacred. It is only about 100 years old in the history of man, a product of evolution as much as any social institution. But in a world of sovereign powers, there must be some standard to finance international trade and domestic currency. Gold has the confidence of more people than any other standard, especially in Europe. (Alexander G. America faces “The Dollar Crisis”. Plain Truth magazine, October 1971, pp. 3-4)
Notice a 1981 article about inflation and gold:
Why Gold?
What does uncertainty in the world’s financial system portend for the future? How will it affect you? And what about the value of gold? Gold has been the most sought after form of money for thousands of years. By universally accepted definition, money is anything that serves as a store of value and as a medium of exchange. Historically, gold has fit that description better than anything else. Because it is relatively scarce, virtually indestructible and possesses a wide range of artistic and functional uses, gold became the standard in most economies. It was easily coined, highly portable and universally recognized for its value.
Even though the supply of gold is limited, demand for the metal seems to be infinite. Commodities such as food crops or industrial output can have price swings based on demand, weather, poor economic policies or disasters. None of these affects the total supply of gold. It maintains its value in relation to other commodities regardless. Thus it has acted as a financial constraint and stabilizing factor. People trust gold because it has been an instrument of monetary discipline and a standard of measure by which to measure other commodities.
Gold acts as a check on governments and politicians. Paper money came into use because it was more convenient to use than gold.
However, historically the amount of paper money in circulation was tied to the amount of gold a nation possessed. When people knew that gold backed up their currency, they trusted their money. But even though people may trust gold, they don’t necessarily trust their leaders. In the words of George Bernard Shaw: “The most important thing about money is to maintain its stability…. With paper money this stability has to be maintained by the government. With a gold currency, it tends to maintain itself…. You have to choose as a voter between trusting the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect for these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.” The goal of every political leader is to remain in power. In a democracy, he must retain his popularity to be reelected.
Extravagant social welfare schemes and public works help to perpetuate the government’s power, even though the country may not be able to afford the expense. If a political leader can get rid of the gold standard, then there is no restraint on the amount of paper money the government can print. The deficit between collected taxes and government spending can be made up through printing extra money. But the effect of these shortsighted policies soon becomes apparent. More and more paper money chases the available goods and services — the result is inflation. Witness the situation in the United States today. Since 1971 the dollar has had no relationship to gold.
Multibillion dollar deficits in government spending have been covered by printing extra dollars. Because the dollar is not convertible to gold, there is no check on government spending and the citizens suffer from consequent inflation. Inflation becomes a vicious circle with everyone eventually losing. As Voltaire concluded, “All paper eventually returns to its intrinsic value — zero.” In 1871 the British economist David Ricardo noted, “Experience has shown that neither a state nor a bank ever had the unrestricted power of issuing paper money without abusing that power.” The United States, blessed with staggering wealth, vast natural resources, and phenomenal industrial and agricultural output, is in a serious financial situation. It makes no sense — except for the fact that national leaders were quite prepared to dilute the value of the nation’s money supply. The decision defrauded the citizens by stealing the purchasing power of wages and savings. This sinister aspect of inflation was explained by the British economist John Maynard Keyes in 1919: “By a continuing process of inflation, governments can secretly and unobserved, confiscate an important part of the wealth of their citizens.” Mr. Keynes himself advocated this form of government policy. But as people begin to experience inflation and see their wealth quickly disappearing, they try to protect themselves through investing and speculating in more stable commodities, including gold.
Speculation in gold is a symptom, and a warning, of a distorted government-ravished economy. It is a sign of loss of trust and faith by men in their own system and political leaders. (Curry J. HOW GOLD, INFLATION AND GOVERNMENT IMPACT YOU. Plain Truth, April 1981)
Other articles from the old WCG also predicted that the Europeans would end up with their own European currency and that it would be expected to replace the dollar.
Now see something from a secular source:
Is there an alternative to the dollar? I heard that question several times in the last few months. First, let me tell you that as much as you like it or not there is always an alternative to almost anything. It doesn’t have to be better or worse, but there is one. It is arrogant and shows a lack of understanding of history and nature to pretend there is no alternative to the dollar. The world existed before the British pound and before the US dollar, and it has survived the British pound and will survive also the US dollar when it collapses. To pretend that the world will collapse or disappear without the dollar is simply American egocentrism. (Popescu D. Gold is the Dollar’s Achilles’ Heel. November 16, 2015)
Yes, the world will survive the end of the US dollar (though the US as we know it will not).
It should be noted that the Bible does show that gold will have value into at least the first few couple of years of the Great Tribulation. Here are some end time prophecies from scripture that help show that:
40 “At the time of the end…43 He shall have power over the treasures of gold and silver (Daniel 11:40,43)
14… And the wealth of all the surrounding nations
Shall be gathered together:
Gold, silver, and apparel in great abundance. (Zechariah 14:14)12 … merchandise of gold and silver, precious stones and pearls … 16 … ‘Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! (Revelation 18:12, 16)
4 The woman was arrayed in purple and scarlet, and adorned with gold and precious stones and pearls (Revelation 17:4)
There are no similar statements backing up the future value of paper items, like the US dollar or the British pound (scripture, indirectly, teaches their elimination, for details see Anglo – America in Prophecy & the Lost Tribes of Israel). Daniel 11:24 shows that the leader mentioned in Daniel 11:40-43 will somehow also be accumulating wealth prior to this time, and that may involve gold accumulation (cf. Daniel 11:38). Perhaps to back up a European supported currency, he also may end up with personal and/or national gold reserves and/or wealth from the Vatican. The Vatican has a vast amount of wealth and is prophesied to be improperly involved with the kings of the earth in the end times per Revelation 17.
Although gold will be tossed into the street later per Ezekiel 7: 19, that will be AFTER the US dollar collapses as scriptures like Habakkuk 2:6-8 and Daniel 11:39 point to. Daniel 11:39 is the start of the time of Jacob’s trouble (Jeremiah 30:7) also known as the Great Tribulation (Matthew 24:21).
The world will have been used to the stability of the US dollar and Europe will want to try to have that type of confidence in its final currency. It will get more gold!
The Continuing Church of God (CCOG) has the following video on our Bible News Prophecy YouTube channel:
Gold is so valuable it is called a precious metal. What nation has the most of it? Is there an area of nations with more? Will gold last longer than the USA dollar? Are there properties about the Beast and/or the Antichrist in the Bible that show that the European Babylonian Beast power will amass gold during the time of the Great Tribulation? Are there Eastern Orthodox prophecies that look forward to this? Are there biblical and Roman Catholic prophecies that warn against this? Are European central banks already accumulating gold? Did Swiss America state that some central banks are leaning towards a gold standard? Might the coming King of the North accumulate gold to use to help shore up his currency after the demise of the US dollar? Dr. Thiel addresses these issues and more.
Here is a link to the sermonette video: Beast Prophecies and European Gold.
The Europeans, Russians, Chinese, and others are in the process of accumulating gold.
Biblically, we can be sure that Europe will amass more gold shortly after the start of the Great Tribulation (cf. Daniel 11:43; Revelation 18:12,16).
Major economies of the world are increasing gold reserves, and part of the reason is to dethrone the US dollar.
One day, he US dollar will cease to be worth any more than the scrap value of the cotton-paper it is printed on.
Some items of possibly related interest may include:
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? Two videos of related interest are Beast Prophecies and European Gold and Germany, Gold, and the US Dollar.
Some Doctrines of Antichrist Are there any doctrines taught outside the Churches of God which can be considered as doctrines of antichrist? This article suggests at least three. It also provides information on 666 and the identity of “the false prophet.” Plus it shows that several Catholic writers seem to warn about an ecumenical antipope that will support heresy. You can also watch a video titled What Does the Bible teach about the Antichrist?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
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? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
Jesus Returning, David’s Throne, and the Stone of Destiny Will Jesus return to the throne of David? What about the Stone of Scone? Here is a link to a related video: Stone of Destiny and Jesus’ Return.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
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. Here is a link to a related sermon: Physical preparedness for Christians.
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
Do Christians Sin? This is an article by Herbert W. Armstrong.
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”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? Two YouTube video are Is China THE Threat to the United States of America? and China: A King of the East.
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-Celtic 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?
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. A sermon of related interest is also available: Canada in Prophecy.
Australia and New Zealand in Prophecy Do biblical prophecies help explain the wealth blessings for Australia and New Zealand? Might cursings from disobedience come in the 21st century? Here is a link to a related sermon: Australia and New Zealand: Origins and Prophecy.
When Will the Great Tribulation Begin? 2019, 2020, or 2021? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter and newer video is: Might the Great Tribulation start in 2019?
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? What about the Eurasian Economic Union (EAEU)? A related video would be Is The Eurasian Union Rising?
Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon. Other videos include: Armageddon Will it come on Trump’s watch?, Iraq, Armageddon, & Prophecy, Freemasonry, Armageddon, and Rome, Is China paving roads to Armageddon?, and Jordan, Petra, and Armageddon.
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. 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 Donald Trump and America’s Apocalypse-Kindle Edition.
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