UCG: America’s Financial Decline

The Strength of Dollars Have Long Been Part of the “Pride of the Power” of the USA
(which will be broken per Leviticus 26:19)


In the current issue of UCG’s World News & Prophecy is the following article:

Farewell to America as a Financial World Power

A major shift in world financial power centers is on the horizon. America is on the decline, while Asia and Europe are on the rise.

by Paul Kieffer

Just five years ago, it would have been hard to imagine an official representative of the German government making such statements in a speech outlining his government’s position in Germany’s parliament, the Bundestag. Yet at the end of September German Finance Minister Peer Steinbrück bluntly stated his view of the world financial crisis.

For Steinbrück one thing is absolutely clear: “The United States is the place of origin and the focal point of the crisis.” Although the long-term effects of the crisis are as yet undetermined, Germany’s finance minister prophesied that America “will lose its status as [the] superpower of the world’s financial systems.”

It doesn’t take a lot of insight to identify America as the cause of the turbulence in the world’s financial markets…

The EU and Asia are also pushing for new regulations to oversee the world’s financial markets…

The damage to America’s standing in the world community as a result of the current crisis will be irreversible. Government intervention in the U.S. economy and the nationalization of financial institutions defies the principles of free capitalist markets. The inherent weaknesses in America’s economic system are being exposed, just as were those of the Soviet system…

Will China and other nations that have been major purchasers of U.S. treasury securities in recent years—countries like Russia and the petrodollar nations lining the Persian Gulf—continue to support the U.S. dollar as the world’s leading currency? Or will the current crisis be the impetus that eventually leads to moving away from the dollar?

Whatever the answer is, the United States won’t be determining the answer on its own…

Currently the publicly held portion of the national debt accounts for about 37 percent of the U.S. gross domestic product. When that portion of the national debt held by U.S. governmental agencies is factored in, the percentage rises to 65 percent. That is twice as high as at the end of World War II, which was the most expensive war in U.S. history. By contrast, the current ratio of national debt to GDP for China is only about 19 percent…

Proverbs 22:7 reveals an interesting principle that this development will have on America’s status as a world leader: “The rich rules over the poor, and the borrower is servant to the lender.” Most Christians do not realize that America’s greatness as a nation—and her impending decline—was prophesied in the Bible. America’s real heritage can be traced back to the ancient nation of Israel, comprised of the 12 tribes of Israel.

UCG is correct that the USA is in financial decline.

Notice the following biblical prophecy:

15 “But it shall come to pass, if you do not obey the voice of the LORD your God, to observe carefully all His commandments and His statutes which I command you today, that all these curses will come upon you and overtake you:…

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).

Notice the following news article:

China lectures US on economy
Financial Times

The US was lectured about its economic fragilities…as senior Chinese officials urged the administration to stabilise its economy, boost its savings rate and protect Chinese investments.

The message went to Hank Paulson, the US Treasury secretary, in Beijing for the strategic economic dialogue he helped launch to discuss long-term issues between the two countries.

As expected, Mr Paulson urged Beijing not to abandon efforts to let the renminbi appreciate, said US officials, amid fears China might want to let its currency weaken to help local exporters weather the global slowdown.

But Mr Paulson also found himself facing calls for the US to address its own economic problems. Wang Qishan, a vice-premier and leader of the Chinese delegation at the two-day talks, called on the US to take swift action to address the crisis.

“We hope the US side will take the necessary measures to stabilise the economy and financial markets as well as guarantee the safety of China’s assets and investments in the US,” he said.

The dialogue was dominated by the global crisis. Zhou Xiaochuan, governor of the Chinese central bank, urged the US to rebalance its economy. “Over-consumption and a high reliance on credit is the cause of the US financial crisis,” he said. “As the largest and most important economy in the world, the US should take the initiative to adjust its policies, raise its savings ratio appropriately and reduce its trade and fiscal deficits.”

Although China also faces a rapidly slowing economy and rising unemployment, the tone of the comments reflected an underlying shift in power.

Eswar Prasad, a senior fellow at the Brookings Institution, said: “One result of the crisis is that the US no longer holds the high ground to lecture China on financial or macroeconomic policies.” http://www.ft.com/cms/s/0/48ac15fc-c1bc-11dd-831e-000077b07658.html

Truly the USA is no longer the head in world finance, but is becoming the tail because of its debt.  Debt that will lead to its destruction (cf. Habakkuk 2:6-7).

Several 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?
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about 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.
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.
The Ten Commandments Reflect Love, Breaking them is Evil Some feel that the ten commandments are a burden. Is that what Jesus, Paul, Peter, James, and John taught?
Was the Commandment to Love the Only Command? Some have stated that John’s writings teach this, but is that what the Bible really says?
The Ten Commandments and the Early Church Did Jesus and the Early Church keep the ten commandments? What order were they in? Here are quotes from the Bible and early writings.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel.
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for China? Is it a “King of the East”? What will happen to nearly all the Chinese, Russians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon?

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