“I will break the pride of your power” (Leviticus 26:19)
Boston Federal Reserve President Rosengren calls for continuing QE3 for a while:
Bloomberg - 1 November 2012
Federal Reserve Bank of Boston President Eric Rosengren said the Fed should buy mortgage bonds until the jobless rate falls to 7.25 percent and hold the target interest rate near zero until hitting 6.5 percent unemployment.
QE3 stands for the third round of “quantitative easing.” Quantitative easing is sometimes called an “asset repurchasing” program that the US Federal Reserve does. Yet, this is mainly a sham operation that debases the value of the U.S. dollar (mainly the government prints up money electronically and the “asset” purchased is a U.S. treasury note, not a real asset like, let’s say, an oil well; yes there are also some mortgages purchased which have ties to real assets, but there are problems there as well).
The hope is that the “cost” to doing this will be ignored and printing more money will stimulate the economy enough to reduce unemployment, so in theory, the economy will improve and the excessive electronic money printing will no longer be necessary. It is an interesting form of deceit that normally has some seemingly positive benefits (sort of like the so-called “pleasures of sin” per Hebrews 11:25)–and the Boston Fed President thinks it helps (see Eric Rosengren says Fed’s latest stimulus efforts are helping US economy). But there is a real cost.
Inflating the money supply through currency debasing (QE1, QE2, and QE3) and debt (“stimulus” programs) is not something advocated in the Bible. Notice:
4 Take away the dross from silver (Proverbs 25:4a).
25 I will turn My hand against you,
And thoroughly purge away your dross,
And take away all your alloy. (Isaiah 1:25)
22 Your silver has become dross, Your wine mixed with water. (Isaiah 1:22)
Dross is a cheaper metal that is normally placed inside a covering of a precious metal like silver. Governments began to do this thousands of years ago when they had financial problems. Putting dross into silver cheapens currency, just like putting water into wine dilutes the wine’s value. In modern times, government spending in excess of revenues and quantitative easing programs (QE1, QE2, and QE3 from the Federal Reserve) are a way to dilute the value of currencies. This is not the biblical solution to US economic problems.
QE3 is sending a strong signal to the world that the USA does not know how to truly fix its economy, but that it hopes because its dollar is the primary world’s reserve currency that it can get away with currency debasement and the rest of the world will put up with it–and while that may be true in the short run, it is sending a signal to the rest of the world that the US dollar needs to be replaced as the world’s primary reserve currency.
Now, the real cause of why all of this is happening to the USA is sin. Because of it’s increasing secularism, greed, and tolerance for sexual, abortive, violence, and other sins, the USA is getting closer to reaping more what it has sown:
7 Do not be deceived, God is not mocked; for whatever a man sows, that he will also reap. 8 For he who sows to his flesh will of the flesh reap corruption, but he who sows to the Spirit will of the Spirit reap everlasting life. (Galatians 6:7-8)
One of the many cursings that were prophesied in the Bible to be reaped for disobedience was that of accumulation of debt:
43 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. 45 Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed, because you did not obey the voice of the LORD your God, to keep His commandments and His statutes which He commanded you (Deuteronomy 28:42-45).
As the Anglo-American nations have not kept God’s commandments, they have become the greatest debtor nations of all time. And while some do not count quantitative easing as “debt”, it is an improper “solution” to the USA’s economic woes.
But since the Federal Reserve will not advocate that the USA turn to God, at least some of its leaders seem to think that diluting the currency is the best choice (the Federal Reserve Chairman, Ben Bernanke, also supports QE3).
The economy, debt situation, and moral situation in the USA is serious. None of them can continue indefinitely and will end in ways that most Americans really do not believe is possible. But right now, Federal Reserve leaders and various media leaders are advocating something that is more dangerous than they probably realize.
To learn more, please check out the following articles:
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?
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?
LCG: Pornography, Who’s Tempting Whom? This is some information about the prevalence and dangers of pornography from the Living Church of God.
CG7 on Pornography This is an article excerpt from the Church of God, 7th Day-Denver about pornography.
Abortion, the Bible, and a Woman’s Right to Choose Do you know what the Bible teaches on this? Has the Roman Catholic Church allowed abortions? What about the Living Church of God?
LCG: Homosexuals Gaining Ground “Same-sex marriage” is becoming more acceptable to many. What does the Bible teach about homosexuality?
Is American Football Evil? Is the most popular spectator sport in the USA something that Christians should watch? What do the Bible and early writings show?
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about?
What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
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.