USA Dollar Declines as its Debasement Becomes More Realized; ‘Euro is Clearly the Only Real Alternative’

“I will break the pride of your power” (Leviticus 26:19)

While the US dollar is still the world’s primary reserve currency, it is having some issues:

30 September 2012…

According to the International Monetary Fund data, the dollar’s share of known global reserves held by central banks slipped in the year’s second quarter.

The dollar’s share of the roughly 5.8 trillion of known reserves was 61.9 percent in the second quarter compared with 62.1 percent during the first three months of the year, Reuters reported…Despite the euro zone debt crisis, the euro’s share of global reserves increased to 25 percent from 24.9 percent in the first quarter. The central banks’ allocation to euros increased by 45.5 billion in the second quarter, the IMF data showed…

“The US dollar is still the “reserve currency of choice” in spite of slight dip of its share. As for the euro and despite its debt crisis, it is still maintaining its share in global ranking in reserves. Having said that, emerging markets have slowed their reliance on the euro as a reserve currency,” according to Basil Al-Ghalayini, CEO of BMG Financial Group…

Jarmo T. Kotilaine, a regional economist…According to Kotilaine, the euro is clearly the only real alternative to the dollar, even if it is lagging far behind…Asim Bukhtiar, vice president and head of research at Riyad Capital, said: “Some viable alternative to the dollar must emerge to displace the greenback from the reserve currency status and sustained declines in dollar holdings by the global central banks’ need to occur to establish a trend. Having said this, diversification is prudent which is driving the foray into alternative holdings and currencies.” http://www.menafn.com/menafn/1093564260/Is-dollar-still-reserve-currency-of-choice

Sept 29, 2012

The Dollar Index fell by the most since the first quarter of 2011 after the European Central Bank pledged to protect the euro from unraveling and the Federal Reserve committed to reduce unemployment via open-ended debt buying, which may debase the U.S. currency. http://www.bloomberg.com/news/2012-09-29/dollar-falls-most-since-2011-as-central-banks-bump-up-stimulus.html

September 24, 2012

Goldman Sachs GS CEO Lloyd Blankfein said Monday the “fiscal cliff” the U.S. faces if Congress doesn’t reach a compromise on automatic spending cuts and tax increases before the end of the year is real.

Appearing on a panel at the Clinton Global Initiative in New York City, Blankfein said the country faces a “substantial risk” if Congress doesn’t act. Even worse, the U.S. could eventually risk its status as the reserve currency of the world if Washington lawmakers don’t manage to shake off the reputation of being dysfunctional. “That’s the real cliff,” he said. http://blogs.marketwatch.com/thetell/2012/09/24/goldman-ceo-blankfein-fiscal-cliff-puts-dollars-reserve-currency-status-at-risk/

The economy, debt situation, and moral situation in the USA is serious. Notice the following quote from another news story:

Once the U.S. dollar loses reserve currency status, that will be a major turning point in the history of our country. http://etfdailynews.com/2012/09/11/why-the-u-s-dollars-reign-as-world-reserve-currency-is-ending/

Current US monetary policy cannot continue indefinitely. Printing money, borrowing money, and overall debasing the currency will lead to destruction (Habakkuk 2). Eventually the USA dollar will be replaced as the world’s reserve currency. At absolute minimum, this will cause significant inflation and a reduction in the standard of living for Americans.

But more than that, despite its problems (and it was prophesied to have them per Daniel 11:41-43), Europe is starting to rise up (and yes, it will have more problems). The Bible shows that the nation at the end that seems to have the strongest military will be destroyed by the end time European power (Daniel 11:39). A power that will also be considered a major economic power then as well (cf. Revelation 13, 17, and 18).

This will end in ways that most Americans really do not believe is possible as they have not put the scriptures together with what is really going on.

To learn more, please check out the following:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, 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?
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?
Barack Obama, Prophecy, and the Destruction of the United States This is a new 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 Mitt Romney. 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 Mitt Romney?
Barack Obama, Prophecy, and the Destruction of the United States–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: 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–Amazon Kindle edition.