Archive for December, 2007

New Year’s Was Condemned By Tertullian

Monday, December 31st, 2007

History of Early Christianity 

COGwriter 

Tonight, many around the world, including many who profess Christ will be celebrating New Year’s.

Not only was this day not observed by early true Christians, even the Roman Catholic supporting Tertullian condemned it in the early third century as he wrote:

The Minervalia are as much Minerva’s, as the Saturnalia Saturn’s; Saturn’s, which must necessarily be celebrated even by little slaves at the time of the Saturnalia. New-year’s gifts likewise must be caught at, and the Septimontium kept; and all the presents of Midwinter and the feast of Dear Kinsmanship must be exacted; the schools must be wreathed with flowers; the flamens’ wives and the aediles sacrifice; the school is honoured on the appointed holy-days. The same thing takes place on an idol’s birthday; every pomp of the devil is frequented. Who will think that these things are befitting to a Christian master, unless it be he who shall think them suitable likewise to one who is not a master? (Tertullian. On Idolatry, Chapter X. Translated by S. Thelwall. Excerpted from Ante-Nicene Fathers, Volume 3. Edited by Alexander Roberts and James Donaldson. American Edition, 1885. Online Edition Copyright © 2004 by K. Knight).

But, however, the majority (of Christians) have by this time induced the belief in their mind that it is pardonable if at any time they do what the heathen do, for fear “the Name be blasphemed”…To live with heathens is lawful, to die with them is not. Let us live with all; let us be glad with them, out of community of nature, not of superstition. We are peers in soul, not in discipline; fellow-possessors of the world, not of error. But if we have no right of communion in matters of this kind with strangers, how far more wicked to celebrate them among brethren! Who can maintain or defend this?…By us,…the Saturnalia and New-year’s and Midwinter’s festivals and Matronalia are frequented–presents come and go–New-year’s gifts–games join their noise–banquets join their din! Oh better fidelity of the nations to their own sect, which claims no solemnity of the Christians for itself!…Not the Lord’s day, not Pentecost, even it they had known them, would they have shared with us; for they would fear lest they should seem to be Christians. We are not apprehensive lest we seem to be heathens! (Tertullian. On Idolatry, Chapter XIV. Translated by S. Thelwall. Excerpted from Ante-Nicene Fathers, Volume 3. Edited by Alexander Roberts and James Donaldson. American Edition, 1885. Online Edition Copyright © 2004 by K. Knight).

What Tertullian seems to be saying is that observing New Year’s celebrations make Christians appear to be followers of pagan gods, and since the pagans would not intentionally celebrate days considered by many to be Christian, Christians should not celebrate days that are honored by the heathen. Specifically, he felt that those who profess Christ should not celebrate New Year’s or other pagan days, as even the observance is a form of idolatry.

The fact is that the December 25-January 1 period was originally a time for partying and honoring the sun and various pagan gods.  Modern people seem to ignore that, just like some unfaithful “Christians” did in the third century.

Three articles of related interest may include:

Is January 1st a Date for Christians Celebrate? Historical and biblical answers to this question about the world’s New Year’s day.

What Does the Catholic Church Teach About Christmas and the Holy Days? Do you know what the Catholic Church says were the original Christian holy days? Was Christmas among them?

Is There “An Annual Worship Calendar” In the Bible? This paper provides a biblical and historical critique of several articles, including one by WCG which states that this should be a local decision. What do the Holy Days mean? Also you can click here for the calendar of Holy Days.

United Church of God: Have the Correct Worldview

Sunday, December 30th, 2007

History of Early Christianity 

COGwriter 

In its latest weekly email, UCG states:

The basic building blocks of our faith do not change. They remain the same: prayer, Bible study, fasting (our reminder to stay close to God), meditation (critical thinking about God’s way and the culture in which we live) and fellowship (Christian communication).

John wrote the first-century Church to remind them, and us, of the core value to love God first above this world and its cultural pulls.

“And I heard another voice from heaven saying, ‘Come out of her, my people, lest you share in her sins, and lest you receive of her plagues'” (Revelation 18:4).

Notice John warns that we must come out of the worldview of our culture and continue to maintain a consistent biblical view. We must view the culture around us with a biblical worldview, rather than through the distorted prism of a postmodern worldview.

And that is correct.

Actually, the reason that so many do not understand true Christianity is because from the beginning of early Christianity, many wanted to retain practices of their culture instead of fully repenting and living according to what the Bible teaches.

More information can be found in the article The History of Early Christianity

ICG on Bhutto Assassination in Pakistan

Saturday, December 29th, 2007

 

Flags of the Arab League and the European Union 

Last night, ICG’s Mark Armstrong sent an email that stated:

Yesterday we were awakened by the sobering news of the assassination of Mrs. Benazir Bhutto in Pakistan.  An almost mythical figure in Pakistani politics, she was campaigning for a return to power, promoting democratic ideals and hoping to forge an atmosphere friendly toward the west. While the news was shocking, it was predictable. Pakistan’s population seethes with a hatred the western mind can barely comprehend.   With the realization that Pakistan has an operable nuclear arsenal, there is grave concern at the highest levels of the U.S. military and government as to the status and security of those weapons…

No one “in the know” seems inclined to downplay the importance or the catastrophic potential of the crisis in Pakistan. The whole of “Christian” Europe is surely very concerned to see tensions escalate so dangerously to their south, with radical Islam erupting in a renewed rage.  Will this situation contribute substantially to the “King of the North, King of the South scenario of Bible prophecy?  The situation in Pakistan, the whole of the Middle East and Europe has lots of angles and the potential for twists and turns ahead.  But the simple answer to the question just posed is YES. 

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Comments by COGwriter

I would have posted this earlier, but our server had a technical problem.

Anyway, assassinations are horrible and disruptive.  It is sad that humans do not yet know the way to peace.

 But until then, there will be a lot of problems. 

Some articles of possibly related interest may include:

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 There A Future King of the South? Some no longer believe there needs to be. Might Egypt, Islam, Iran, Arabs, or Ethiopia be involved? What does the Bible say?
Military Service and the Churches of God: Do Real Christians Participate in Carnal Warfare? Here are current and historical perspectives on a matter which show the beliefs of the true church on military participation.
India, Its Biblical Past and Future, Part I: Any Witness? The Bible discusses the origins of those of Indian heritage (including Pakistan) and discusses some of the witness to them.

Comet Coming: Is One Prophesied to Hit the Earth?

Friday, December 28th, 2007

“The Great Comet of 1996” Comet Hyakutake

COGWriter

The following news item was of interest:

“Comet 8P/Tuttle is approaching Earth for a 25 million mile close encounter on New Year’s Day. The green hue is a sign of cyanogen (a poisonous gas) and diatomic carbon (C2) in the comet’s atmosphere; both substances glow green when exposed to sunlight in the near-vacuum of space. This green color could intensify in the week ahead as the comet nears and brightens to a predicted magnitude of 5.7.”                                               – SpaceWeather Dec 27, 2007 http://spaceweather.com/

Now, I do not believe that that Comet 8P/Tuttle will have a massive impact upon this planet, but the Bible indicates that something from the sky, most probably a comet, will.

Over 1900 years ago, notice what the Apostle John was inspired to write in the Book of Revelation 8:10-11:

Then the third angel sounded: And a great star fell from heaven, burning like a torch, and it fell on a third of the rivers and on the springs of water.  The name of the star is Wormwood. A third of the waters became wormwood, and many men died from the water, because it was made bitter.

And while that does not have to be a comet, it certainly sounds like one.

Why?

In addition to looking like a star falling from the heavens looking like a torch, the comets appear with cyanogen.  Astronomers state hydrogen cyanide on comets may be their source of cyanogen gas.

Interestingly, the cyanogen gas mixes with water to form hydrogen cyanide, which has an almond odor and bitter taste, and reportedly causes death at concentrations over 5 parts per million.

And thus for Bible skeptics, the fact that before humans had any idea that comets could produce a poisonous bitter water, it is recorded in the Bible. This should be additional proof to those willing to see that the Bible has been inspired by God.

Perhaps those who realize it will then try to live by it.

Some articles of possibly related interest may include:

The Bible: Fact or Fiction? This is a booklet written by Douglas Winnail that answers if the Bible is just a collection of myths and legends or the inspired word of God.
Read the Bible Christians should read the Bible. This article gives some rationale for regular bible reading.
What is the Appropriate Form of Biblical Interpretation? Should the Bible be literally understood? What do the writings of the Bible, Origen, Herbert W. Armstrong, and Augustine show?
Bible and Historical Resources on the Internet Electronic bibles, Two Babylons, early Christian literature, photos, and even links to old Herbert W. Armstrong materials.
Is God’s Existence Logical? Some say it is not logical to believe in God. Is that true?
What is the Meaning of Life? Who does God say is happy? What is your ultimate destiny? Do you really know?

CG7 Continues to Distance Itself From Bible Prophecy

Thursday, December 27th, 2007

 

COGwriter

While yesterday I posted about some who are overly misfocused on prophecy as they falsely claim the end must begin in 2008, Church of God (Seventh day)-Denver seems to be on the other end of the spectrum.

It is not that CG7 does not believe any prophecies, it just seems to want to minimize the prophecies, and even prophetic books, of the Bible.

Here is what it is currently teaching in its Bible Advocate magazine:

The Apocalypse of Jesus Christ does not just signal the

end of the Bible; it discloses the very end of time. If the apparent doom it forecasts does not discourage us from further examination, then the bizarre imagery clinches it. The book is formidable, to be sure.

It is peculiar that a volume this obscure should be called Revelation…

The prophecy

The Apocalypse speaks the lyrical language of dream; our old senses cannot comprehend it. As with the seers Ezekiel and Daniel before him, what John sees defies rational explanation. To be “in the Spirit” is to be transported out of the prosaic confines of the literal and logical into the startling world of metaphor and mystery (1:10; 4:1; 17:3; 21:10). Seven times in twenty-two chapters (1:3; 11:6; 19:10; 22:7, 10, 18, 19) Revelation describes itself as prophecy. God will “show His servants — things which must shortly take place” (1:1; Amos 3:7).

But the future that John experiences and conveys is not brute history but more poetry. The divine glimpse of reality has urgency and grandeur that conventional discourse cannot contain. Heaven opens, human expression fails, and only inscrutable awe remains. Beauty is indefinable and melody unexplainable; they must be experienced, not translated, to be known.

Revelation is such a melody. It calls us to be a prophetic people, not just farsighted but capable of mediating in the Spirit the melodious beauty of encounter with the divine (1 Corinthians 12:10; 14:1-39; 2 Corinthians 12:1-7)…

The Word

The Apocalypse weaves the fabric of vision from the thread of memory. John states that his prophecy is the “word of God,” a phrase he uses seven times in the book (1:2, 9; 6:9; 17:17; 19:9, 13; 20:4). But this new song is taken from the old (5:9; Psalm 96:1). 

(Overman, Jason. Songs of the Apocalypse. Bible Advocate Online, December 2007). 

CG7 seems to discount biblical prophecy and the above simply is another indication of that CG7 is no place of safety.  Those who went to it from the old Worldwide Church of God need to realize that CG7 is losing truths that it has, and that it has a name that it is alive but is dead.

I believe that this lack of proper prophetic emphasis is part of why Jesus warned the remnant of the Sardis era, “you will not know what hour I will come upon you” (Revelation 3:3).

And while CG7 does teach that Jesus will return and thus a few prophetic teachings, so do most non-COG groups.  CG7 seems to wish to tell people that it accepts the fact that the Bible contains prophecy, but it does not really seem to wish to tell people much about what it means.

That is sad.  Hopefully some with CG7 will heed Jesus’ warning in Revelation 3:2-3:

Be watchful, and strengthen the things which remain, that are ready to die, for I have not found your works perfect before God.

Remember therefore how you have received and heard; hold fast and repent. Therefore if you will not watch, I will come upon you as a thief, and you will not know what hour I will come upon you.

Several articles of possible related interest may include:

Church of God, Seventh Day: History and Teachings Nearly all COG’s I am aware of trace their history through this group. Whaid Rose is the president of the largest CG7 group (Denver). Do you know much about them?  Do you know what it really teaches about prophecy?

5. The Sardis Church Era was predominant circa 1600 A.D. to circa 1933 A.D. Discusses earl;y history of the Seventh Day Baptists, Seventh-day Adventists, and COG-7th Day.

The Churches of Revelation 2 & 3 from 31 A.D. to present: information on all of the seven churches of Revelation 2 & 3.

There is a Place of Safety for the Philadelphians. Why it May Be Petra This article discusses a biblical ‘place of safety’ and includes quotes from the Bible and Herbert W. Armstrong on this subject–thus, there is a biblically supported alternative to the rapture theory.

At Least Two Wrongly Claim Great Tribulation Will Begin in 2008

Wednesday, December 26th, 2007

Pantheon of Rome: A Symbol of Unity Among Religious Error 

COGwriter

One of my personal goals is to warn people about false leaders/prophets/teachers who claim to be associated with the Churches of God (see also the article Why Be Concerned About False and Heretical Leaders?). 

I earlier wrote about one individual who wrongly indicates that the Great Tribulation may begin in the Spring of 2008 (see Sep-Oct 2007 Journal Out for details). Another individual that I never highlighted on this news page stated it had to begin in the Fall of 2007.

Yesterday I received an email from another apparently claiming that the Great Tribulation will begin in the Fall of 2008.  Here is what he wrote:

Please, do not confuse me with R Weinland.  I strongly disagree with most of what he says.  For one thing I endeavour to provide scriptural backing for everything that I say.  However I do say that 2008 is a critical year.  As stated on the website I expect the Abomination (the man of sin) to be set up at the end of Sep and to go to the Holy Place within 75 days, triggering the occupation of Jerusalem.  We shall know soon enough if I am correct!
 
Sincerely   James Malm

While I do not doubt his sincerity, he is wrong that the abomination will be set up in September 2008.  However, he is probably correct to indicate that we all may be able to agree on this in October 2008.

I am working on a detailed paper on Daniel 11 and perhaps will post it during 2008.  For now, there should be enough details in the article Who is the King of the North? to show people that September 2008 is simply too early.

But there is another, Ronald Weinland, who continues to make quite a stir on the internet as he too claims that the Great Tribulation will begin in 2008 (please see the article Concerns About Ronald Weinland’s Church of God-Preparing for the Kingdom of God).  Ron Weinland also falsely claims to be one of the prophesied two witnesses (to learn more about God’s final two, please see the article Who Are The Two Witnesses?).

He specifically teaches such things as:

2008—God’s Final Witness reveals the Seven Thunders of the Book of Revelation, which the apostle John was not allowed to record! It also gives more specific end-time prophecies that will sharply increase during the next year and one-half when the final tribulation of this world strikes (Quote online 6/13/07).

This first phaseof this Fifth Thunder has already begun in a very small way upon the Church of God that was scattered, after the prophesied apostasy (2 Thes. 2)…Instead, these will stubbornly cling to their own ideas of how they believe God should teach them through their own organizations. This phase of the Fifth Thunder is one of my own choosing, which God has granted me as part of His own will and purpose for the Church (2008 – God’s Final Witness, p. 92).

Irrespective of assertions by various self-appointed “prophets”, the fact is that the great tribulation as described in the Apocalypse (Book of Revelation) will not start in 2008.  

Why?

As I indicated above, the King of the North (Daniel 11) also known as the Beast (Revelation 13:1-10) is not ready.  The fact is that the European Union is still not the economic and military power it needs to be in order to eliminate the United States, the United Kingdom, Canada, Australia, and New Zealand. 

And even though events in Iraq and Iran may help lead to the ascension of a strong Muslim leader, the Arab League is still not united enough to be the prophesied King of the South.  And while I do agree that there are tensions in the Middle East, the infrastructure for a power there to challenge the European Union still is not there (more information is in the article The Bible and the Arab World In History and Prophecy).

While the European Union even signed an agreement to for additional military, political, and economic unity about two weeks ago, they simply are not ready yet to be the dominant leader of the world (though they are taking steps in that direction).

Even though Europe is filled with religious symbols and religious error, it still is not at all unified religiously at this time.  The European peoples are secular now and do not consider that they are united with each other.  And there is even discussion currently in Belgium about it splitting in two now (though both parts would remain part of the EU should this occur). 

One Greek told me last June (while I was in Greece) something to the effect that a Greek feels no reason to die for a German, no Italian would feel a reason to die for one who is French, etc.  He specifically stated that the peoples in Europe still do not consider themselves as “European” as opposed to being Greek, Serb, Dutch, Polish, German, etc.

The Europeans, thus, are simply not ready to fulfill their role as the supporters of the King of the North – the Final Beast  military power yet. 

Furthermore, the new religion of the King of the North  (apparently a more ecumenical version of Catholicism) has not even been announced, let alone accepted, yet.

Although the current Pope Benedict XVI is working on getting the Eastern Orthodox to be more unified with his church, even he is not ready to espouse the more ecumenical form of Catholicism that would be needed for the masses.  Nor do I believe that the Europeans themselves will become particularly religious until they become more determined to unite against a future Muslim entity–and while this will most likely occur in the relatively near future, it seems impossible for this to be the case by the end of 2008.

As I have written before, the Europeans have not completed their Galileo project; Galileo is a “GPS” system that will allow them to work independently of the US military’s system.  I believe a system like that will be essential to plans for a surprise attack–which is the type of attack I do anticipate.

And while the Europeans have somewhat strengthened their military significantly, it is not quite strong enough to try to take on the USA, etc.  Military action normally occurs when one side feels that it has an overwhelming military advantage–and the Europeans are not quite there.  And while surprise will most likely play a role, I simply do not believe that the European leaders have confidence that they could take the USA out at this time.  Nor do I believe that many of them even have any intentions to do that yet (see Isaiah 10).

And while “Galileo” itself is not a biblical requirement, the idea of having its own powerful military clearly is. Notice this verse describing the Beast:

So they worshiped the dragon who gave authority to the beast; and they worshiped the beast, saying, “Who is like the beast? Who is able to make war with him?” (Revelation 13:4).

The above would only be said of a power with massive and successful military abilities–and the EU is simply not there, yet

Furthermore, the ongoing bureaucratic discussions in Brussels still show that the Europeans have not finished their systems for “international prosperity”.  Nor have they acknowledged ten kings which need to be determined (Revelation 17:12)–though that particular step could happen immediately if appropriate. 

There are also events in Daniel 11, Matthew 24, and other prophecies that I do not believe have been fulfilled to the degree necessary for the actual final 3 1/2 year great tribulation to begin in 2008 (though it will start in the future, and actually could begin several years from now).

Even though even Catholic prophecies indicate a great ruler to arise in Europe who will eventually destroy the English (for documentation, see the article Who is the King of the North?), there simply is not such a person who could be ready for this by 2008.

Assertions from people who claim to be in the COG notwithstanding, the Great Tribulation will NOT start in 2008.

You Have a Day Off and the Stores Are Closed

Tuesday, December 25th, 2007

COGwriter

Okay, you know that the real reason that December 25th was chosen as “Christmas” to supposedly honor Jesus was because that date is the birthday of the sun-god Mithra.  So, since you do not celebrate it, and in most nations most of the stores are closed, other than cleaning up around the house (something that I hope to spend some time doing today), what can you do?

Game Seat

For amusement, you might want to play the Who Wants to be a Biblical Millionaire? game.  It is fairly popular and my son Michael is adding questions to it all the time.

History of Early Christianity

Another option would be to study more about the The History of Early Christianity .  There is always more to learn and I am always updating articles there.  FWIW, studying more about religious history is something that I also intend to do today.

Of course, you should “pray always” as Paul taught, and it is usually a good idea for Christians to Read the Bible.

Anyway, for those of you not working today, have a great day off!

Christmas Trees: A Symbol of the Trinity?

Monday, December 24th, 2007

COGwriter 

There are a lot of non-Christian symbols associated with the celebration of what is now called Christmas.

Most who have looked into the subject of Christmas trees are familiar with the passages in Jeremiah 10 that clearly seem to condemn pagan tree practices:

2″Do not learn the ways of the nations
or be terrified by signs in the sky,
though the nations are terrified by them.
3 For the customs of the peoples are worthless;
they cut a tree out of the forest,
and a craftsman shapes it with his chisel.
4 They adorn it with silver and gold;
they fasten it with hammer and nails
so it will not totter.
5 Like a scarecrow in a melon patch,
their idols cannot speak;
they must be carried
because they cannot walk.
Do not fear them;
they can do no harm
nor can they do any good.” (Jeremiah 10:2-5, NIV).

While the trees themselves cannot harm us, God says that they cannot do any good.

Even though there is nothing in the Bible to encourage putting a tree in one’s house to honor the Jesus or the Father, both Catholics and Protestants believe that they have a legitimate reason.

Catholics claim that once their St. Boniface chopped down an oak dedicated to Thor, a fir grew at the same place, and that he stated that “Its leaves remain evergreen in the darkest days: let Christ be your constant light” (Christmas Tree. Wikipedia, 12/22/07).  But the truth is that the evergreen tree had long been a pagan religious symbol in northern Europe.

According to the Historic Trinity Lutheran Church of Detroit:

Dr. Martin Luther is credited with originating the use of lighted pine trees in the home for Christmas (http://www.historictrinity.org/advent.html).

Here is one account of the

St. Boniface Story

Why do we have a decorated Christmas Tree? In the 7th century a monk from Crediton, Devonshire, went to Germany to teach the Word of God. He did many good works there, and spent much time in Thuringia, an area which was to become the cradle of the Christmas Decoration Industry.

Legend has it that he used the triangular shape of the Fir Tree to describe the Holy Trinity of God the Father, Son and Holy Spirit. The converted people began to revere the Fir tree as God’s Tree, as they had previously revered the Oak. By the 12th century it was being hung, upside-down, from ceilings at Christmastime in Central Europe, as a symbol of Christianity.

The first decorated tree was at Riga in Latvia, in 1510. In the early 16th century, Martin Luther is said to have decorated a small Christmas Tree with candles, to show his children how the stars twinkled through the dark night (The Chronological History of the Christmas Tree Copyright © 1998-2007 Maria Hubert von Staufer. http://www.christmasarchives.com/trees.html viewed 12/22/07). 

Of course, that once again is one of the problems of Christmas, it substitutes pagan symbols for that of the true God.

And if you are asking yourself, doesn’t the trinity represent God, you may wish to study more into the Bible and the History of Christianity and also read the article Did the True Church Ever Teach a Trinity?

Another aspect of history is that the early Church condemned winter celebrations like modern Christmas–Christmas was not observed by the early true church.  This is documented in the article What Does the Catholic Church Teach About Christmas and the Holy Days?

PCG, Foreign Bailouts, and the Economy

Sunday, December 23rd, 2007

PCG reported the following:

Morgan Stanley just posted its first quarterly loss ever—a whopping $3.59 billion…However, the most revealing statement as to its deteriorating financial condition was Morgan Stanley’s announcement that it went cap in hand to the Chinese government for a bailout. The China Investment Corporation, a state-owned investment fund, will purchase almost 10 percent of Morgan Stanley. More revealing yet is the fact that Morgan Stanley is paying the Chinese fund annual interest of 9 percent on its investment.

But Morgan Stanley is not alone. Citigroup, another of America’s largest banks, recently had to pay 11 percent interest to attract a state-owned United Arab Emirates investment fund to come to the rescue after multi-billion dollar losses. Then, analysts called the 11 percent interest a “loan-shark” rate. Nine percent, although better, is still in that category.

If America’s most prestigious financial institutions are in trouble—forced to borrow from foreign governments as well as pay exorbitant rates—what does that portend for the rest of the economy?

Here is a somewhat related news item:

Twenty billion dollars here, $20bn there, and a lush half-trillion from the European Central Bank at give-away rates for Christmas. Buckets of liquidity are being splashed over the North Atlantic banking system, so far with meagre or fleeting effects.

As the credit paralysis stretches through its fifth month, a chorus of economists has begun to warn that the world’s central banks are fighting the wrong war, and perhaps risk a policy error of epochal proportions.

Liquidity doesn’t do anything in this situation,” says Anna Schwartz, the doyenne of US monetarism and life-time student (with Milton Friedman) of the Great Depression.

“It cannot deal with the underlying fear that lots of firms are going bankrupt. The banks and the hedge funds have not fully acknowledged who is in trouble. That is the critical issue,” she adds…

New York’s Federal Reserve chief Tim Geithner echoed the words, warning of an “adverse self-reinforcing dynamic”, banker-speak for a downward spiral. The Fed has broken decades of practice by inviting all US depositary banks to its lending window, bringing dodgy mortgage securities as collateral.

Quietly, insiders are perusing an obscure paper by Fed staffers David Small and Jim Clouse. It explores what can be done under the Federal Reserve Act when all else fails…

Citigroup, Merrill Lynch, UBS, HSBC and others have stepped forward to reveal their losses. At some point, enough of the dirty linen will be on the line to let markets discern the shape of the debacle. We are not there yet.

Goldman Sachs caused shock last month when it predicted that total crunch losses would reach $500bn, leading to a $2 trillion contraction in lending as bank multiples kick into reverse. This already seems humdrum…

The International Monetary Fund still predicts blistering global growth of 5 per cent next year. If so, markets should roar back to life in January, as though the crunch were but a nightmare. There again, the credit soufflé may be hard to raise a second time.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/12/23/cccrisis123.xml&CMP=ILC-mostviewedbox
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Comments by COGwriter

I suspect that while things are precarious, and that there may be a downturn, that 2008 will not be the year that the economy truly tanks.  Also, the Great Tribulation Will Not Begin in 2008 (nor will Ronald Weinland be proven correct about 2008 being the time of some of the “thunders”).

But increasing dependence on the Chinese and Arabs, while helpful now, is not that way to truly solve the worlds’ economic problems.

Recall the following curse from the Bible:

The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower.  He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail.  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 28:43-45).

…the foreigner who comes from a far land, would say, when they see the plagues of that land and the sicknesses which the LORD has laid on it: ‘The whole land is brimstone, salt, and burning; it is not sown, nor does it bear, nor does any grass grow there, like the overthrow of Sodom and Gomorrah, Admah, and Zeboim, which the LORD overthrew in His anger and His wrath.’  “All nations would say, ‘Why has the LORD done so to this land? What does the heat of this great anger mean?’  “Then people would say: ‘Because they have forsaken the covenant of the LORD God of their fathers…’ ” (Deuteronomy 29:22-25).

An article of possibly related interest may be The Ten Commandments Reflect Love, Breaking them is Evil.

Intercontinental Church of God, World News, and Prophecy

Saturday, December 22nd, 2007

 

Flags of the Arab League and the European Union 

Last night, ICG’s Mark Armstrong reported:

Pakistan has a nuclear arsenal.  The country is politically unstable and there is news this week indicating that Al Qaeda is turning its attention toward Pakistan. 

Iran is spinning the centrifuges, enriching uranium, and elements within our own government have tried to tie the President’s hands, insisting that Iran “halted” its nuclear weapons development in 2003, a program they consistently claimed never existed.  

It seems now like it’s a matter of “when” rather than “if” nuclear weapons can be deployed by elements of radical Islam.  Maybe it’ll be a couple of years, maybe more depending on whom you believe, unless there’s intervention.  It could happen sooner if things should go wrong in Pakistan. 

Many of the dominoes have lined up for Europe, but by no means all.  They’ve got a common currency, a serious Muslim problem, and a German Pope.  But they have in recent years elected surprisingly conservative politicians, apparently in an attempt to reverse the ravages decades of socialism have wrought.  I’m amazed to see a French president who’s more pragmatic and pro-American than many of our own candidates.
Despite the advent and success of the EURO currency, Europe has not yet become the strong political and military power of Bible prophecy. 

Despite threats to Israel’s continued existence, no entity fitting the description of the prophesied “king of the South” has yet emerged.  Could it be Iran?  Will Al Qaeda gain acceptance throughout the Islamic nations and fulfill that role?  Could it be…?  Fact is, time will tell, and we just don’t know yet.

What about America?  While the prophetic scenario has not fully developed, we should remember that the United States doesn’t appear to be a player in the final scenario.  A case can now be logically made that the U.S. is in greater danger from those who would lead it than from any exterior threat.
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Three related articles of possible interest may include:

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”?
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 There A Future King of the South? Some no longer believe there needs to be. Might Egypt, Islam, Iran, Arabs, or Ethiopia be involved? What does the Bible say?
The Bible and the Arab World In History and Prophecy The Bible discusses the origins of the Arab world and discusses the Middle East in prophecy. What is ahead for the Middle East and those who follow Islam?