IMF Did Not Resolve Currency Issues, Trade War Possible

World Currencies

Concerns about nations devaluing their currencies and related matters were not truly resolved in IMF (International Monetary Fund) meetings yesterday and today according to the following report from the Wall Street Journal:

The International Monetary Fund’s annual meeting this weekend failed to ease currency battles roiling markets, pushing the dispute off to a summit next month of leaders of Group of 20 countries, with no clear resolution in sight…

The U.S., European nations and a number of emerging-market countries complain that China is deliberately undervaluing its dollar to aid its exporters. To compete, South Korea Brazil and other Asian and Latin American nations have taken measures to beat down the value of their currencies as well, leading to fears that these efforts may presage a trade war. (Davis B. IMF Meeting Fails to Resolve Conflict Over Currencies. Wall Street Journal, 10/10/10. http://online.wsj.com/article/SB10001424052748704127904575543801865057796.html?mod=googlenews_wsj)

Trade wars were a factor in triggering both the Great Depression and World War II. Such events could be a factor in triggering what the Anglo-nations might consider to be World War III–the time of Jacob’s trouble (Jeremiah 30:7), and the start of the Great Tribulation.

The Church of God for many decades has warned that major trade wars were likely. For example, the front cover of the June-July 1970 Plain Truth magazine stated “World Trade Crisis?”, had a lead article titled Is America losing…the battle for economic survival?, and showed copies of previous articles (dating back many years) about trade wars in that issue. Notice some comments:

Trade War…

How long will the strained foreign confidence in the undisciplined American economy continue?

For a little while longer, at least…

But should there be another international currency crisis…the time table could be stepped up. (Hogberg G, Armstrong Garner Ted. Is America losing…the battle for economic survival? Plain Truth, June-July 1970, pp. 2,7).

World events seem to suggest that a currency crisis is developing. Back in 1970, the old WCG in that Plain Truth article essentially warned that should circumstances ultimately cause the world to use something other than the US dollar as the “international reserve currency” (p. 7), the USA would face “economic collapse” (p.7). The article also discussed the idea that the Europeans were developing their own plans and were expecting other nations to join the then “Common Market” (p. 5), which they did–the old Common Market, became the modern European Union (and also created the Euro).

World events are leading in that direction. And with its massive deficits (c.f. Habakkuk 2:3,5,6-8), the USA is somewhat pushing the world to do so. Prophecy is being fulfilled.

Without massive national repentance, the Bible is clear that complete destruction of the economy, and even government, of the USA and its Anglo-allies is certain.

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?
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?