South Africa wants BRICS’ bank: Are we closer to the final time of the Gentiles?

Durban, South Africa

In another move that will tend to decouple international economies from the US dollar, South Africa has made a proposal:

January 15, 2013

PRETORIA — The newest member of BRICS, South Africa, will host this year’s summit of the group of emerging economies that comprises Brazil, Russia, India and China. South Africa says it wants emerging economies to have more say, internationally, and to flourish on their own terms, amid a global economic crisis caused by the world’s traditional superpowers. At this year’s summit, BRICS plans to take a decisive step in that direction by starting their own bank…

Together, these five nations represent about $13.7 trillion, which is about a fifth of the world’s GDP (gross domestic product). Fast-growing, resource-rich South Africa seems like a logical partner – it is the only African member of the G20 group of nations.

This year, South Africa will host the group’s summit in March, where they are expected to finalize preparations for their own development bank.

Ambassador Anil Sooklal, deputy director-general of South Africa’s Department of International Relations and Cooperation, says finance ministers have not decided where the bank will be or what the bank’s initial funding will be – the oft-discussed figure is $10 billion per nation, for a total of $50 billion. He says the members are “comfortable” with that figure.

“And, I should also point out there is the political will to have this bank. That there is no question around that, there is the political will from all the BRICS countries,” said Sooklal. “Given that within the multilateral development banks, the funds are drying up, they’re shrinking. And, countries of the north have their own challenges. So, liquid capital – in terms of addressing the development challenges of developing countries – is becoming more and more scarce. And therefore, the argument made was that the capital of… almost two-thirds of foreign reserves are held by developing countries today. And, a major part of that is from BRICS countries. That this liquid capital is being invested in sovereign wealth funds in the north. And, it’s felt that this should be invested in something that would work for ourselves.”

As many as 800 businesspeople from the BRICS nations are expected to attend its fifth summit and will have a chance to meet with high-level leadership.

The summit starts March 26 in Durban. http://www.voanews.com/content/south-africa-seeking-brics-bank/1584178.html

The BRICS include the nations of Brazil, Russia, India, China, and South Africa. The biblical reality is that they are NOT prophesied to be the main economic power of the world after the Anglo-nations lose dominance. But they, as a block, have seemed determined to try to avoid using the US dollar for their cross border trade, and the South African proposal is a step in that direction.

And yet, I have long expected the BRICS to have problems. China is likely to have civil uprisings, to cite one example. The BRICS also have concerns about each other.

However, the BRICS are starting to try to form a stronger alliance and that is consistent with the rise of the times of the Gentiles that the Bible refers to:

25… Gentiles, who do not know You…they have eaten up Jacob, Devoured him and consumed him,
And made his dwelling place desolate. (Jeremiah 10:25)

23 But woe to those who are pregnant and to those who are nursing babies in those days! For there will be great distress in the land and wrath upon this people. 24 And they will fall by the edge of the sword, and be led away captive into all nations. And Jerusalem will be trampled by Gentiles until the times of the Gentiles are fulfilled. (Luke 21:23-24)

2 But leave out the court which is outside the temple, and do not measure it, for it has been given to the Gentiles. And they will tread the holy city underfoot for forty-two months. (Revelation 11:2)

The Gentile powers will rise up. But the primary dominant economic power several years from now will be European (Revelation 13:1-4; 16-17)–the Beasts that Daniel saw (Daniel 7:2-7; 19-25) and what the Apostle John described (Revelation 13,17,18) were compromised mainly of people of which now are considered to have European, not BRICS, heritage.

As far as the BRICS go, they will be impacted by global economic conditions, but they are doing better than they were 10-12 years ago. The fact that they will have ups and downs is to be expected.

Many of the BRICS have suggested in the past that they will try to maneuver take steps to replace the US dollar as well as US influence. And while they have not yet succeeded, the time will come when Europe, and not the USA, is the major economic player in the world (cf. Revelation 13:16-17)–and the moves by the BRICS will likely at least help weaken some US dollar dominance.

And while all the BRICS will apparently cooperate with Europe for a time, it is likely that Russia, China, and probably India and perhaps South Africa will turn against Europe per Daniel 11:44 and other scriptures (Brazil is possible, but seems prophetically to be the least likely because of its cultural and connections to Europe).

Anyway, while we are getting closer to the final time of the Gentiles, we are not there yet. But regularly there are news items showing that steps are being taken consistent with that final rise. Watch (Mark 13:37).

Some articles of possibly related interest may include:

China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel.
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for China? Is it a “King of the East”? What will happen to nearly all the Chinese, Russians, and others of Asia? China in prophecy, where?
Africa: Its Biblical Past and Prophesied Future What does the Bible teach about Africa and its future? Did the early Church reach Africa? Will God call all the Africans?
India, Its Biblical Past and Future: Any Witness? The Bible discusses the origins of those of Indian heritage and discusses some of the witness to them (including those in Bangladesh, Pakistan, and Sri Lanka).
Russia: Its Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end?
Is Russia the King of the North? Some claim it is. But what does the Bible teach?
Mexico, Central America, South America, Brazil, and the Caribbean in Prophecy [Español: México, America Central, Suramérica, y el Brasil en profecíal] [Português: México, América Central, Ámérica do Sul, e Brasil na profecia] What will happen to those of Latin America? Will they have prosperity? Will they cooperate with Europe? Will they suffer in the future? What role might the various Caribbean nations/territories play?
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?
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 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?
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? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2019 or 202x?
When Will the Great Tribulation Begin? 2013, 2014, or 2015? 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?