Euro currency remains a work in progress on 20th birthday
December 28, 2018
FRANKFURT, Germany (AP) — The euro is about to celebrate its 20th birthday, but the countries that use it are still wrestling with how the shared currency should work and how to fix flaws exposed by the debt crisis that marred its second decade.
The euro was launched on Jan. 1, 1999, when 10 countries fixed their exchange rates to it and handed decisions on interest rates to the newly-founded European Central Bank. Euro notes and coins went into circulation three years later. …
19 of 28 EU countries use the euro.
The euro is credited with increasing trade between members. But countries have struggled to adjust to trouble after giving up two big safety valves: the ability to let their currency’s exchange rate fall to boost exports, and to adjust their own interest rates to stimulate business activity. …
Meanwhile, the possibility of a new crisis like the one that threatened to break up the euro in 2010-2012 lurks. …
Germany and northern European governments like the Netherlands resist sharing risks and spending, fearing they’ll end up paying for shenanigans in less well-run economies. From the other direction, France’s Macron has pushed for a substantial central budget, against considerable resistance. …
Considering the pain Greeks endured to keep the euro, the EU’s single currency remains remarkably popular. Sixty percent say it’s good for the country and 71 percent believe it’s good for the EU — only slightly below average among currency bloc members as a whole, at 64 and 74 percent. https://www.apnews.com/ace67a72f4fd4c8ba93067ffc540ce8d
The euro is quite popular. While it has not surpassed the USA dollar as the world’s primary reserve currency, it is one of the leading “reserve currencies” in the world today.
Back in 1971, the old Worldwide Church of God clearly taught that the Europeans would get their own currency:
Envision the startling future of Western Europe… A “United States of Europe” possessing one single currency – a currency so strong that it will replace the U.S. dollar as the kingpin currency of world trade. (Hogberg G. EUROPE’S COMMON MARKET RISING WORLD COLOSSUS. Plain Truth, May 1971)
The Europeans do have their own currency, and while it has not yet replaced the dollar, the time will come when the world will NOT keep the US dollar as its primary reserve currency.
That being said, in 1978 the old Worldwide Church of God also published the following:
The U.S. dollar is on its way down and out as the free world’s leading currency. Its place may soon be taken by a powerful European currency unit (ECU) heavily backed by gold and the mighty deutsche mark. When that happens a United Europe in command of world trade will be but a step or two from reality — setting the stage for remarkable prophecies in the book of Revelation. (Hogberg G. HOW THE DOLLAR CRISIS IS FORGING A UNITED EUROPE! Plain Truth, October-November 1978)
While in a real sense, the German economy (the one that once had the deutsche mark) has been backing the Euro, the Europeans have not yet gotten to the point that the Euro is backed by gold. Now, this is something that I have long written was likely, but that is still a future event (see also The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?).
Notice one move this past Summer by the Germans related to the euro:
Deutsche Bank has moved a “large part” of its euro clearing activity to Frankfurt from London in a boost to the efforts of the eurozone’s top financial centre to lure business away from the City before Brexit. … the change, confirmed by a spokesman and first reported by the Financial Times, will be seen as a victory in Deutsche Börse’s campaign to grab a larger slice of the euro clearing market. …
A spokeswoman for Eurex said it had a market share of 8% of euro clearing, up from virtually zero a year ago.
Hubertus Väth, the chief executive of the marketing group Frankfurt Main Finance, told the FT that moving euro clearing from London to Frankfurt was “on top of our priority list from the very first day after the Brexit referendum”.
Clearing houses act as an intermediary and guarantor between firms that buy and sell financial instruments such as interest rate swaps.
London hosted about 70% of euro transaction clearing as of 2013, according to the Bank for International Settlements.
So, because of Brexit, the Europeans are taking steps to get more control over the Euro.
That being said, Europe will have issues and the Euro will have issues. The Euro has already had issues that many have wondered about this year (watch End of the Eurozone?).
The Bible shows that the final European Beast power will not be naturally-united:
41 Whereas you saw the feet and toes, partly of potter’s clay and partly of iron, the kingdom shall be divided; yet the strength of the iron shall be in it, just as you saw the iron mixed with ceramic clay. 42 And as the toes of the feet were partly of iron and partly of clay, so the kingdom shall be partly strong and partly fragile. 43 As you saw iron mixed with ceramic clay, they will mingle with the seed of men; but they will not adhere to one another, just as iron does not mix with clay. (Daniel 2:41-43)
Spain, Greece, Italy, France, Germany, and other parts of Europe will have unrest. Cracks in the Eurozone could well lead to not just difficulties, but to temporal unification.
…European countries urgently want political union, the very UNITED STATES OF EUROPE I have been assuring PLAIN TRUTH readers for 31 years is definitely coming. It will unite them into a giant third World Power…
There is a definite German “Kultur! There is a French culture that is in many respects quite different. Then there is a still different Italian culture, a Spanish culture, a Scandinavian culture, a Swiss culture–and all are different! European nations speak different languages, have different aspirations, different customs, different traditions. Europe is often called a “crazy-quilt” of nations.
HOW, THEN, CAN THEY AGREE TOGETHER AND UNITE? For years The PLAIN TRUTH has said these nations are going to have to realize their inability to unite themselves politically-to choose a common political-military Leader that all can trust. They are going to finally face the fact they must look to a Supreme Authority they can all trust! That Supreme Authority cannot be a politician, or a general (De Gaulle is both). The only possible answer is a Religious Leader! (Armstrong HW. Personal. Plain Truth, November 1965, pp.1-2)
So, he felt that while they needed a political-military leader, he also felt some type of religious leader was needed to unify Europeans.
But there was more. In a sermon on July 7, 1984, he added:
And I can see now, the event that is going to trigger the formation of the reunification in Europe; the resurrection of the medieval Holy Roman Empire that we’ve been looking forward to that is prophesied to come…
But I believe that some event is going to happen suddenly just like out a blue sky that is going to shock the whole world and is going to cause the nations in Europe to realize they must unite! … Well now I think I can see what may be the very event that is going to trigger … that is the economic situation in the world …
The whole banking structure in the United States is a network all jointed together. But not only that, one nation has to deal with other nations and imports and exports. And so they have to have a means of transforming money from one nation to another. And so the banking structure is international and interwoven …
Now when the financial structure breaks down, all civilization is going to break down …
As the Associated Press reported at the beginning of this post, there are concerns that the euro could face another crisis. That is expected. Hence, we are likely to see something along the lines of what the late Herbert W. Armstrong warned about.
Europe will reorganize and unite for a time.
Various European leaders have dropped hints about reorganizing, notice a report related to something that Angela Merkel said in the German language last month:
“Nation states must today be prepared to give up their sovereignty”, according to German Chancellor Angela Merkel, who told an audience in Berlin that sovereign nation states must not listen to the will of their citizens when it comes to questions of immigration, borders, or even sovereignty.
A militaristic leader will rise up in Europe and gain control. Angela Merkel does not seem to realize what will happen when there is a loss of sovereignty in Europe.
A loss of sovereignty is consistent with the following prophecy of European reorganization:
12 “The ten horns which you saw are ten kings who have received no kingdom as yet, but they receive authority for one hour as kings with the beast. 13 These are of one mind, and they will give their power and authority to the beast. (Revelation 17:12-13)
Europe will reorganize and there will be a loss of national sovereignty.
But as far as the euro and the US dollar go, back in 2009, I wrote the following:
It would seem that once the U.S. dollar totally collapses people all around the world will consider that even if the Euro is strong, having a more gold-backed currency would be safer. 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) may greatly increase European credibility, prosperity, and influence around the globe.
And I have quoted that at this news page off and on since then. Here are some things I wrote in 2017 in my book Donald Trump and America’s Apocalypse:
While the Bible shows the Europeans will have difficulties being together (Daniel 2:41-43), it also shows that they will reorganize and unite (Revelation 17:12-13). …
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” (Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016).
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 reality is that the Eurozone has issues, but Europe and others are taking steps to replace the US dollar as the world’s primary reserve currency and are using gold as part of their plan.
Whether it is to head off a crisis, back the euro or some future currency, or to dethrone the US dollar, the Europeans are preparing for financial change.
Europe intends to trade with Iran without using US dollars and via bypassing US financial controls:
Europe Finally Has an Excuse to Challenge the Dollar
The plan for a “special purpose vehicle” to bypass U.S. sanctions on Iran could test American dominance of the global financial system. …
October 4, 2018
Federica Mogherini, the European Union’s top foreign-policy official, said in New York on Monday that the plan to create a “special purpose vehicle” for trade with Iran “will mean that EU member states will set up a legal entity to facilitate legitimate financial transactions with Iran, and this will allow European companies to continue trade with Iran.” … it is clear to the Europeans (as well as the Chinese and Russians) that any future transactions with Iran must go through entities insulated from the American financial system. …
Mogherini indicated that Germany, France and the U.K. would set up a multinational state-backed financial intermediary that would deal with companies interested in Iran transactions and with Iranian counter-parties. Such transactions, presumably in euros and pounds sterling, would not be transparent to American authorities. European companies dealing with the state-owned intermediary technically might not even be in violation of the U.S. sanctions as currently written. The system would be likely be open to Russia and China as well. https://www.bloomberg.com/view/articles/2018-09-25/europe-finally-has-an-excuse-to-challenge-the-dollar
Professor Abramov: “If Russia succeeds in convincing European Union countries, as our main consumers, to make oil payments in euros rather than dollars, this would be a real, tangible blow to the dollar.
Note the question: “Why would they want to force a confrontation between Europe and the United States?”
Well, because Europe wants to rule the world and it more and more sees that the USA is in its way. Whether it uses the euro, some basket of currencies, or something else, it is looking at financial ways to push the USA aside.
Furthermore, Europe wants its own military and its own empire. The Continuing Church of God has put together the following video on our Bible News Prophecy YouTube channel:
In November 2018, French President Macron called for a “true European army” because of China, Russia, and the USA. Some others in Europe have echoed that sentiment. On November 9, 2018, US President Donald Trump called that an insult, but the next day said that the USA wanted “a very strong Europe.” Emmanuel Macron referred to Donald Trump as “my friend” and indicated a desire to strengthen Europe’s military spending. In December 2017, 25 European nations agreed to be part of a military alliance called PESCO. Europe also has NATO and IEI. Will Europe end up with “a great army”? Has Donald Trump’s announcement to withdraw from the 1987 Intermediate-Range Nuclear Forces Treaty gotten some to say that Europe must rebel against the USA? Is the idea of a United States of Europe and a European army a “paranoid fantasy” or a biblical reality? Will the USA regret Europe becoming a stronger military power? Will the USA be betrayed by “friends” such as its continental European allies? Does the Bible teach any or all of this? Are there connections to the Beast of Revelation or the King of the North of Daniel 11? Dr. Thiel addresses these matters in this video.
Let’s not forget China is also working to bypass the US dollar. The Continuing Church of God has put together the following video on our Bible News Prophecy YouTube channel:
The US dollar has been the world’s primary reserve currency for decades. Is this about to change? What is going on with the Chinese yuan and oil and gold? What do the BRICS nations want? What did Venezuela do? Do the Europeans want to dislodge the US dollar as the world’s primary reserve currency? Does US debt play any role? Does the Bible tell us what will happen to the USA and its dollar? What happens if the USA loses its status? Will gold outlast the US dollar? Dr. Thiel addresses those issues and more.
The reality is that the world will one day dump US dollars.
European currency ambitions and gold look to play an important role.
It will happen, though it will take some time. But many are working on it now!
The more final drop basically could happen with a combination of multi-national cooperation (of which we are seeing more of against the USA dollar), natural and/or man-made disasters impacting the USA, and increasing USA debt (which keeps happening).
USA policies and sanctions are also encouraging this to happen. Here is a video on our Bible News Prophecy YouTube channel related to the sanctions matter:
Russian Prime Minister Dmitry Medvedev said new US sanctions would be a declaration of economic war. Iran, North Korea, China, Europe, and Turkey are also upset about USA sanctions and tariffs. A Turk asserted “Somebody must find a solution and stop the USA.” The BRICS nations see US sanctions and tariffs as helpful to their objectives to trade without the USA. Are “unintended consequences” of USA policies threatening the current Anglo-American world order and leading to a New World Order? What has ‘Lord’ Jacob Rothschild and Russian President Vladimir Putin stated? Does Bible prophecy say that a confederation of Turks, Arabs, and Europeans pose a real threat to the USA and UK? Is the final time of the Gentiles coming? Will it be worse than people imagine? Dr. Thiel addresses these issues and more.
As I warned prior to Donald Trump’s inauguration, there will be many “unintended consequences” to some of his policies and statements.
Europe, China, Iran, North Korea, Russia, the other BRICS nations, and other lands want to topple USA dominance. The euro is a part of the plan to do so.
The days of the US dollar’s dominance are numbered. The time will come when the USA, itself, will not continue (Daniel 11:39; Habakkuk 2:6-8).
Sure, there are problems with the Eurozone.
Yes, there are problems in Europe.
Yes, I expect more problems in Europe.
However, the Bible shows that Europe will reorganize (Revelation 17:12-13), eliminate the USA (Daniel 11:39), and dominate the world scene for a time (Revelation 13,17,18) just before Jesus returns.
Do not be surprised to see crises in Europe before many of those events are fulfilled.
Some items of possibly related interest may include:
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. Financial Reset by 2022? Euro Pacific Capital CEO says the US economy is about to crash because of debt. US National Security Adviser John Bolton declared debt as a threat to society. Forbes writer John Mauldin says that a financial reset is expected in the 2020s, as does Willem Middelkoop, who believes gold may be part of a reset. Morgan Stanley believes the end of the current economic cycle may be in 2021. MIT pointed to changes in the 2020s. How much debt does the USA add daily? Does any of this tie in with biblical prophecies? Does Habakkuk 2 have applicability to the USA? Is it wise to try to discount debt and not pay it back in full? Dr. Thiel addresses these issues in the light of scripture in this video. 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? A video of related interest may be: Germany, Gold, and the US Dollar. Trade Disputes: CCOG Warnings Are Coming to Pass Trade tensions and talks of trade wars have escalated. US President Donald Trump has put Europe, China, Mexico, and other lands on notice that he wants to change how international trade with the USA has been going. Tariffs, retaliatory tariffs, and even more tariffs are being implemented. Is this all just happenstance? Are we yet in a trade war? What will Europe do? Has the Church of God been warning about trade disputes and a coming trade war for decades? What about the Continuing Church of God (CCOG)? What has been warned, what has been happening, and what will happen? Will trade disputes be a factor in World War III (WW3)? Dr. Thiel explains what has been taught and what to expect. Trade Wars: Are COG warnings coming to pass? Trade issues, tariffs, and talk of trade wars are in the news. Can trade wars lead to World War III like they did to World War II? Are the events going on with the USA, UK, Asia, and Europe consistent with warnings published by the true Church of God (COG) over the past several years and decades? Do Germany and China hope to take advantage of trade frictions involving the Trump Administration and the Trans-Pacific Partnership agreement? What about Mexico and South America? Does the Bible teach that Europe will become a major trading power? Will the final European Babylonian trading power be destroyed? Dr. Thiel addresses these issues and more in this video. 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? Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. 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. Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the former German Defense Minister (who is also the former German Minister for Economics and Technology) one to watch? What do Catholic, Byzantine, and biblical prophecies suggest? Germany’s Assyrian Roots Throughout History Are the Germanic peoples descended from Asshur of the Bible? Have there been real Christians in Germanic history? What about the “Holy Roman Empire”? There is also a You-Tube video sermon on this titled Germany’s Biblical Origins. Germany in Biblical and Catholic Prophecy Does Assyria in the Bible equate to an end time power inhabiting the area of the old Roman Empire? What does prophecy say Germany will do and what does it say will happen to most of the German people? 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 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. The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? A sermon of related interest is also available: Great Monarch: Messiah or False Christ? 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. USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA? 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 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? Forbes’ Brexit Monster is the Beast of Revelation Various ones have been properly convinced that there is a plan for a European superstate. Forbes’ writer Tom Worstall wrote that the Brexit vote was about the United Kingdom “not joining the monster of the European Union to come.” The Bible tells of a Beast monster that will arise in the end times in Europe. Dr. Thiel cites news reports, as well as the Old and New Testaments, to show that the monster many fear will arise in Europe, despite the vote by the British to exit the European Union. This is a video. Post Brexit Prophecy On June 23, 2016, the voters of the United Kingdom of Great Britain and Northern Ireland (UK) chose to leave the European Union. Now with this BRitish EXIT (Brexit) vote, what is prophesied to happen to the UK? Will the UK do well or be taken over and made slaves? Dr. Thiel explains from biblical prophecies what is ahead for the UK, Europe, and even the USA, Canada, Australia, and New Zealand. This is a video. Brexit and the fate of Northern Ireland, Gibraltar, the UK, and the USA On April 29, 2017, 27 of the nations of the European Union agreed to certain guidelines for the negotiations with the United Kingdom of Great Britain and Northern Ireland which gave its notice to leave on March 29, 2017. These guidelines are contrary to what the UK wants. Does the EU intend the UK to pay a price for leaving the EU? What does Spain want? What does the Republic of Ireland want? Will Northern Ireland and Gibraltar eventually fall under European control? Will the UK and USA be conquered? What does the Bible teach? Dr. Thiel answer these questions and more in this video. 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.
