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Porter Stansberry reported the following as part of a long message:

Write Down This Date: July 1st, 2014
On this date, U.S. House of Representatives Bill “H.R. 2847” goes into effect. It will usher in the true collapse of the U.S. dollar, and will make millions of Americans poorer, overnight.

Life as we have known it for more than 40 years will essentially cease to exist. Our governments on both the Federal and State level will shut down. Banks will not open. Businesses will at least temporarily shutter their doors. I expect we’ll see martial law, enforced by the U.S. military…

Even as late as the 1970s, America was the world’s largest creditor. But by the mid-1980s we’d become a debtor to the world. And since the late 1990s we’ve been the world’s LARGEST debtor.

Today, our government owes more money to more people than anyone else in the world.

With all of these bad debts piling up, we’ve had to begin repaying our debts by printing trillions of new dollars.

With QE3, the latest round of “quantitative easing,” the Fed is printing $65 billion a month. That’s nearly a trillion dollars a year.

And now, finally, the impact of this is being felt in a big way.

As our creditors figure out what’s happening, we are beginning to have very, very big problems.

I believe our creditors (which include foreign countries and other investors here and abroad) will either completely stop accepting dollars in repayment… or greatly discount the value of these new dollars. I’m sure you think that sounds crazy, but as I’ll show you, it is already happening.

In fact, Zha Xiaogang, a researcher at the Shanghai Institutes for International Studies, recently said:

The shortcomings of the current international monetary system pose a big threat to China’s economy.”

That’s why China is now actively taking steps to phase out the U.S. dollar because of its frustration with the U.S. government’s mismanagement of our currency. And how does our government respond? We have the audacity to label China a “currency manipulator!”

Do you see the irony here?

As a result of what our government is doing today, I’m confident we will soon see an end of the U.S. dollar standard.
In fact, I’m 100% sure of it. It’s not a matter of “if,” but “when.” And I think it’s going to happen much, much sooner than most people think. In fact, I believe that a series of new laws, set to go into effect on July 1st, 2014, are going to accelerate this trend… in very dramatic fashion.

Even more importantly, these new regulations set to take place on July 1st will make it nearly impossible for most Americans to legally protect their savings…Anyone with any sense or basic understanding of economics can tell the U.S. dollar is doomed. And as it continues to collapse, it’s going to have major repercussions. Yet most Americans are completely clueless about what this all means…this entire process is going to accelerate dramatically in the next few months, because of a dramatic law change that takes effect July 1st, 2014.

Here’s what’s happening…

In 2010, the U.S. Congress passed House of Representatives bill H.R. 2847.

Hidden within this bill is a provision known as “FATCA,” which stands for the Foreign Account Tax Compliance Act.

This bill does several important things, as of July 1st, 2014:

1. It forces all worldwide banks to comply with the IRS if they have any transactions in U.S. dollars.

2. Because the U.S. dollar is still the world’s reserve currency, it essentially means ALL WORLDWIDE BANKS, except for the smallest community institutions, must comply.

3. To comply, banks can either spend a fortune segmenting, tracking, and potentially “taxing” their U.S. dollar transactions by as much as 30%… or they can simply get rid of all of their U.S. customers.

In other words, the U.S. government is saying to all banks around the world: If you deal in U.S. dollars in any way, you have to give us full, unfettered access to all of these transactions… or you have to get rid of all of your U.S. customers.

The repercussions here are enormous:

For one, it means more and more institutions will move AWAY from the U.S. dollar, accelerating the already rapid worldwide move away from the dollar as reserve currency.

For another, it essentially makes it extremely difficult, if not impossible, for the average American to get some of his money out of U.S. dollars, and into more stable currencies via foreign banks. http://endofamerica.com/intro-index.html?gclid=CNrt-bLl270CFUqUfgodVlYACQ

I reported some of this before, but added the foreign portion above.   Foreigners do not like FATCA–and partially because of that, the USA has delayed parts of it past the July 1, 2014 date.

Yet, while FATCA is not good for the economy of the USA, it of itself, is not enough to usher in the collapse of the USA dollar. FATCA (along with fallout from the Edward Snowden leaks) may be helping set up a system that will allow the coming European Beast power to fulfill the following:

16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name. (Revelation 13:16-17)

FATCA is a major step towards being able to control buying and selling. Porter Stansberry did not touch on that. Yet, he sees real problems in the fiscal situation in the USA.

As far as foreigners and debt, notice that the Bible teaches the following:

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…47 “Because you did not serve the LORD your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the LORD will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The LORD will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you. 52 They shall besiege you at all your gates until your high and fortified walls, in which you trust, come down throughout all your land; and they shall besiege you at all your gates throughout all your land which the LORD your God has given you (Deuteronomy 28:42-45,47-52)

3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his–how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you (Habakkuk 2:3,5,6-8).

It is the the United States and its Anglo-allies that have loaded pledges of debt in these end times that they really do not expect to pay back. In that respect they have recently plundered many nations. And while much is owed to nations such as China, Japan, and the Arab World, the Europeans have trillions of dollars invested in the USA–money they may be disappointed to have devalued. Enough so that they may divide the land among themselves and other creditors (cf. Daniel 11:39; Habakkuk 2:6-8).

Many will dismiss this and conclude that since the USA has been able to increase its debts that this will be able to go on forever, despite what the Bible says. Those who doubt the Bible will be proven wrong. That being said, it is likely, because of the USA dollar’s position in the world, that it will take a combination of events for creditors to rise up.

Porter Stansberry correctly suggested that foreign creditors will at some point in time rise up.  And while that will not happen as early as July 1, 2014, it will come to pass.

The end of the dominance of the USA and its Anglo-Saxon allies is coming.  Can you see the Handwriting on the Wall?

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This entry was posted on Tuesday, May 20th, 2014 at 12:06 am and is filed under Prophecy.

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