LCG: Nations Moving Away from US Dollar. 2018?

World Currencies

This past week saw further dropping in the value of the USA dollar compared to many other world currencies. Concerns about rising USA debt, “quantitative easing” by its Federal Reserve, and other USA actions which will ultimately highly devalue the USA dollar has many nations trying to change away from dependence on the USA dollar for various aspects of foreign trade.

Notice a news item from late Thursday:

The dollar tumbled against most major currencies on Thursday, prompting warnings that the weakness of the world’s reserve currency could destabilise the global economy and push other countries into retaliatory devaluations to underwrite their exports.

Increasing expectations the Federal Reserve will pump more money into the US economy next month under a policy known as quantitative easing sent the dollar to new lows against the Chinese renminbi, Swiss franc and Australian dollar. It dropped to a 15-year low against the yen and an eight-month low against the euro. (http://www.ft.com/cms/s/0/5505a7f0-d7c2-11df-b478-00144feabdc0.html?ftcamp=rss)

In its latest weekly update announced at Sabbath services today, LCG reported:

Squeezing Out the U.S.? Last Autumn, a British newspaper reported, “In the most profound financial change in recent Middle East history, Gulf Arabs are planning—along with China, Russia, Japan and France—to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar. Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.” One Chinese banking source also predicted the Russian ruble would be brought into the “basket” of currencies in the future too. The deadline for converting completely away from the dollar is now eight years away—2018. Obviously missing from those “secret” financial meetings were the bulk of European nations—including Germany and Britain (Independent, October 6, 2010). Little has been run in the popular press since, but this past summer China detached itself from the bilateral exchange rate with the U.S. dollar, instead choosing to compare itself to a “basket” of other currencies. One reason was to deflect attention away from the U.S. dollar (Reuters, July 22, 2010). Nations of the world are increasingly concerned about the U.S. dollar and spiraling U.S. sovereign debt. The U.S. debt is also acting to polarize nations and even drive some nations together—for example the gulf nations. The Bible makes clear that debt can move one from a position of leadership to one of being a servant (Proverbs 22:7). We appear to be watching this global power-shift occur.

Now, because the “end is not yet” (cf. Matthew 24:6), though soon (see Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End?), there will likely be economic, civil, and other problems in Europe and elsewhere that will continue to keep the USA dollar from being totally worthless for at least a couple of more years. It is not likely to last to 2018 (though it might)–USA actions to inflate its currency will likely accelerate the efforts to decouple from it.

Notice a news article from yesterday:

Whether we realize it or not, we compete with other nations around the world for resources. Historically, our currency – as the world’s reserve currency – has given us an enormous advantage. Coal, for example, is priced in dollars. But we stand on the verge of losing that advantage… and the consequences will be drastic. (http://www.marketoracle.co.uk/Article23525.html)

A power-shift is most definitely occurring. The USA is hopelessly in debt and there are more nations calling for a de-linking from the USA dollar as the world’s reserve currency than there ever have been. And they are trying to take steps (though they will stumble at times) to create a world that is no longer economically dominated by the USA.

Most of those who live in the USA have no idea how much this will impact them. At minimum this will result in about a 30% reduction in individual wealth. But ultimately this goal will lead to the end of the USA, meaning its dollar will be less than worthless (it will be hated) and its lands (and people) taking over and divided by its future enemies.

Some prophetic articles of possibly related interest may include:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of 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? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? 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?
Prophecies of Barack Obama? Eight reasons why Barack Obama is apocalyptic and eight reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests? This is the longest and most complete article on this page on Barack Obama prophecies. Read it and decide for yourself if President Obama seems to be fulfilling various prophecies.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”, based up an early 20th century writing.
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? Where is the nation of Israel in all of this?
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? Does the Bible give any indication about 2018?
Can the Great Tribulation Begin in 2010, 2011, or 2012? Can the Great Tribulation begin today? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord?