Bernanke Clueless on Economy, Bible is Not

Ben Bernanke

The U.S. Federal Reserve Chairman apparently does not understand the USA economy according to an article in Forbes late today:

Brutally honest, Bernanke admitted that he had no clue what was actually causing the current fragility in the U.S. economic recovery.

Perhaps he should read the scriptures on blessings and cursings in the Bible as they mention that being confused is a curse from God:

20 The Lord will send on you cursing, confusion, and rebuke in all that you set your hand to do, until you are destroyed and until you perish quickly, because of the wickedness of your doings in which you have forsaken Me. 21 The Lord will make the plague cling to you until He has consumed you from the land which you are going to possess. 22 The Lord will strike you with consumption, with fever, with inflammation, with severe burning fever, with the sword, with scorching, and with mildew; they shall pursue you until you perish. (Deuteronomy 28:20-22)

(Biblical concepts such as tithing, land sabbaths, and observance of jubilee years are something else the Fed Chairman does not understand–and they impact the economic cycles.)

The same Forbes article today also stated:

Patting himself on the back, Bernanke once again defended his controversial programs of long-term asset purchases, dubbed QE1 and 2. “People don’t appreciate how pernicious deflation could be” for the economy, said the chairman, who then said QE2 saved the economy from deflation and was completely justified at the time. “[Back then] we were missing on both sides of our dual mandate, today we are much closer [to fulfilling it].” http://blogs.forbes.com/afontevecchia/2011/06/22/bernanke-admits-hes-clueless-on-economys-soft-patch/

Yet, inflating the money supply through currency debasing (QE1 and QE2) 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 and QE2, from the Fed Chairman) are a way to dilute the value of currencies. This is not the biblical solution to US economic problems.

Now, the real cause of why all of this is happening is sin. Because of it’s increasing secularism, greed, and tolerance for sexual, abortive, 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!

WORLD FOREX: Bernanke Shoots Down QE3 Speculation, Lifting Dollar

Wall Street Journal – ‎22 June 2011

NEW YORK (Dow Jones)–Federal Reserve Chairman Ben Bernanke Wednesday quashed speculation about another round of stimulative bond purchases, boosting the dollar. http://online.wsj.com/article/BT-CO-20110622-713773.html

Bernanke Leaves Door Open to Further Easing
Bloomberg

Federal Reserve Chairman Ben S. Bernanke left the door open to a fresh shot of monetary stimulus should the economic rebound he’s predicting fail to materialize.

The Fed would be “prepared to take additional action, obviously, if conditions warranted,” including the purchase of more Treasury securities, Bernanke said…http://www.bloomberg.com/news/2011-06-23/bernanke-leaves-door-open-to-easing-if-economy-weakens-further.html

Despite the Fed’s Chairman’s views, quantitative easing has been another way that the USA has been plundering nations. It was producing currency without the production of goods to back it up. It still seems that there will be a QE3 or “stimulus” (or something similar but probably called something else) as inflating the money supply seems to be the approach that the US government has taken to attempt to “fix” the economy. It is not that “quantitative easing”, etc. cannot have any temporary positive effects, it is that it does not get to the cause of the problem–which is sin that requires repentance. And repentance is not an option that many government leaders have seriously considered.

At some point in time, the USA will likely start to experience massive inflation (which is something that the Fed Chairman should realize). And afterwards, its creditors will rise up.

The world is changing and the USA and its Anglo-descended allies are losing their financial dominance in the world. And while there will be some temporary rises in the value of the US dollar for a while (and likely when there is more civil unrest in Europe), the trend for the US dollar and economy is clearly down.

Quantitative easing will apparently help fulfill the prophecy in Habakkuk 2:3,6,7. Notice that God mentions that that destruction will happen to those that increased their debt at the end time:

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).

The above prophecy will be fulfilled at the time of the end and seems to be directed to one or more nations like the USA. It makes little sense that it would be directed towards the modern nation of Israel as it does not have enemy creditors. It must be a nation or group of nations with some prominence.

Since the USA has the most debt of any nation of all time, it seems to be a leading (though not necessarily only) candidate to be included in it. Increasing deficits puts the USA in a dangerous position that Bible prophecy indicates that it will not be able to recover from.

Let’s briefly look at another warning in Isaiah 30:12-13:

12 Therefore thus says the Holy One of Israel:

“Because you despise this word, And trust in oppression and perversity, And rely on them, 13 Therefore this iniquity shall be to you Like a breach ready to fall, A bulge in a high wall, Whose breaking comes suddenly, in an instant.

Of course, more and more, the Anglo-American nations are trusting in policies that encourage perversity. Prostitution is legal in New Zealand, Australia, and parts of the USA. New Zealand, interestingly, has the highest promiscuity rate for women in the entire world according to one study (New Zealand women most promiscuous Sydney Morning Herald AAP – Oct 13, 2007. http://www.smh.com.au/articles/2007/10/13/1191696214489.html). The Anglo-nations have seen rises in homosexuality and are often changing laws to accomodate this biblically prohibited practice.

While there is oppression in these nations (especially racial), the Hebrew word for it can also be translated “unjust gain”. This can include not just the historical exploitation of of various peoples, but can probably also include the fact that the economies of the Anglo-American nations for the past few decades has been benefiting from the gains of foreigners loaning money to it.

Since the Roe vs. Wade pro-abortion decision, the USA has became the greatest debtor nation in the history of humankind. Since the USA owes alien nations trillions of dollars, it appears that the curse in Deuteronomy 28:44 of having to borrow from aliens is happening to it now.

US President Barack Obama has repeatedly put forth economic policies that have and will increase that debt–even more than former President Bush. Additionally, one of the first actual changes that Barack Obama implemented was reversing one or more executive orders that will likely lead to more abortions (see Obama’s Abortion Changes). Yet, abortion is wrong (see Abortion, the Bible, and a Woman’s Right to Choose) and a terrible national sin. And on March 9, 2009 President Obama lifted a ban on embryonic stem cell research (see LCG on Stem Cells) another morally wrong sin.

Without massive national repentance, the Bible is clear that complete destruction of the economy, and even government, of the USA is certain. This is something that leaders, such as the Fed Chairman, need to know.

Ben Bernanke and others may wish to consider studying the following prophetically-oriented articles:

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.
Abortion, the Bible, and a Woman’s Right to Choose Is abortion sin? What exactly are a woman’s reproductive rights? Do you know what the Bible teaches on this?