China’s Belt and Road forum kicks off … Arab nation attendance provides a strong confirmation to end of Petrodollar
Sir Isaac Newton’s third law of physics was, “For every action, there is an equal and opposite reaction.” While that is not completely applicable in international politics, the reality is that there are ‘unintended consequences’ with sanctions, threats, tariffs, military interventions, etc.
US trade policies have increased the desire of certain nations to topple the US dollar’s position as the world’s primary reserve currency.
One that most Americans seem to know little about has to do with China’s ‘Silk Road’ project, officially called the Belt and Road Initiative. Notice the following reports:
China’s Belt and Road forum kicks off … Arab nation attendance provides a strong confirmation to end of Petrodollar
China’s Belt and Road confab … with representatives from 17 Arab countries confirmed to be participating in the new Silk Road project, it all but validates that the long-standing Petrodollar system is at an end. …
All in all, representatives from 37 countries will be attending this forum between April 22-25. And what makes this trade project a real threat to the U.S. and dollar hegemony is that much of it will be done bilaterally, and in currencies that are outside the global reserve. …
While President Trump continues to try to break apart global trade through the use of tariffs and economic sanctions, China appears to be focusing on new markets where competitive advantages are being tied to the strength of each nation’s own money, and not within the restrictions formed on them through the Petrodollar. http://www.shotguneconomics.com/2019/04/as-chinas-belt-and-road-forum-kicks-off.html
China’s economic war against the United States has entered a new and deadlier phase. After gutting U.S. manufacturing under the guise of “free” trade, China is co-opting America’s high-tech dominance by wooing tech giants, like Apple and Google.
Meanwhile, China expands its reach by building out its Belt and Road Initiative (also known as One Belt, One Road), aimed at linking all of Eurasia and Africa together under Chinese-dominated trading routes. As this has occurred, Beijing has taken aim at the very heart of America’s global dominance: the U.S. dollar.
Herein lies the most significant threat to the American-led world order since its inception following the end of World War II. And, unlike previous threats to that order, China’s attempt to kill King Dollar just might work. …
Should the U.S. dollar cease to be the world’s reserve currency then Washington not only would have to reform its absurd spending policies virtually overnight (fat chance of that happening), but America would be on the proverbial hook to quickly repay its vast international debt—which is almost impossible.
With a debt-to-GDP ratio of 100 percent, there is no realistic way for the United States to pay down its debt should those foreign powers demand it. In essence, it would lead to the end of the American world order and it would cause utter chaos in the U.S. socio-economic and political system as America struggled to repay its onerous debt. …
In 2018, China made an historic deal with Saudi Arabia that allowed for some oil to be traded in China’s currency. Thus, the petro-yuan was born.
The move had significant backing in places like Saudi Arabia and France. Russia, which has been squeezed hard by American sanctions since the illegal annexation of Crimea in 2014, supported the move to allow for oil to be traded on the petro-yuan as well.
Other American rivals, including Iran and Venezuela, have long desired to trade oil in currencies other than the dollar, so as to avoid U.S. sanctions. https://amgreatness.com/2019/04/11/china-is-slowly-killing-king-dollar/
China’s BRI project, its economic development, and its willingness to engage Asia, Europe, and Africa, has gotten the attention of the Arab world. Deals are in the process of being done.
Earlier this month, Saudi Arabia threatened to ditch the ‘petro-dollar’ if the US passed certain legislation (see Saudi threatens to ditch ”Petro-Dollar’ trade scheme).
What is the petrodollar?
Essentially, it is the fact that although the US dollar is no longer backed by gold, since most oil is priced in US dollars, that gives the US dollar a type of backing in a broadly needed commodity. This insures that, internationally, the US dollar will have value. So it is sometimes called a petrodollar.
Here is more about that:
After the collapse of the Bretton Woods gold standard in the early 1970s, the U.S. struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a paradigm shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.
The petrodollar system elevated the U.S. dollar to the world’s reserve currency and through this status, the U.S. is able to enjoy persistent trade deficits, and become a global economic hegemony. The petrodollar system also provides the United States’ financial markets with a source of liquidity and foreign capital inflows through petrodollar “recycling.” However, before the effects of the petrodollars on the U.S. dollar can be examined, a brief history lesson is in order. …
Since the most sought after commodity in the world–oil–is priced in U.S. dollars, the petrodollar helped elevated the greenback as the world’s dominant currency. In fact, according to the Bank for International Settlements (BIS) triennial survey, 87 percent of all foreign exchanges deals initiated in April 2013, involved the USD on one side. With this status, the U.S. dollar was able to enjoy, what some have asserted to be an “exorbitant privilege” of perpetually financing its current account deficit by issuing dollar denominated assets at very low rates of interest, as well as, becoming a global economic hegemony.
For instance, countries like China, who hold vast quantities of U.S. debt have voiced their concerns in the past about the possible dilutive effects to their asset holdings should the dollar depreciate. However, the privileges associated with being able to run persistent current account deficits come at a price. As the reserve currency, the U.S. is obligated to run these deficits to fulfill reserve requirements in an ever in an ever-expanding global economy. If the United States were to stop running these deficits, the resulting shortage of liquidity can pull the world into an economic contraction. However, if the persistent deficits continued ad infinitum, eventually foreign countries will begin to doubt the valuation of the dollar and the greenback may lose its role as the reserve currency; this is known as the Triffin Dilemma. http://www.investopedia.com/articles/forex/072915/how-petrodollars-affect-us-dollar.asp#ixzz4iqqtZ9CU accessed 06/02/17
If enough oil producing nations stop pricing oil in US dollars, the theory is that the US dollar will drop, or even collapse.
Someone said this could happen as early as 2015:
Market Collapse then New World Order in 2015? A long-time financial adviser named Harvey Organ claims that claims that because of insufficient gold in the central banks of USA and UK, that Shanghai would bring about exposing this and that this would lead to a massive, overnight, rise in the price of gold and silver, diminished value of their currencies. He states a market collapse will occur before the end of 2014, that the petroyuan will replace the petrodollar, and that a Chinese led New World Order will be in place for 2015. Is this possible? Where does the leader of the ‘New World Order’ come from? What does the Bible teach? This is a video.
Although I did not believe such a collapse could have happened in 2015 (nor do I believe such for 2019), the reality is that the Bible tells of a time when the US will be taken over (Daniel 11:39).
The massive debts of the USA will be a factor:
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, Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:6-8)
Actually, with an admitted debt of over $22 trillion dollars and plans to increase that much further, the USA has increased pledges more than any nation in the history of the planet. Foreign creditors will rise up.
Some, like China, are also taking steps to topple US dollar dominance.
Yesterday, the USA announced that it intends to impose sanctions against countries, like China, if they continue to purchase oil from Iran (see ‘US won’t renew sanctions waivers for importing Iranian oil’)–which China already does without US dollars because of US sanctions against Iran.
The existence of the ‘petrodollar’ seems to have helped the USA be in a position to increase its debt and that will not end well (cf. Habakkuk 2:2-8; Daniel 11:39; see also USA in Prophecy: The Strongest Fortresses).
As far as the Arab world goes, while many of the Sunni Muslim nations consider themselves to be US allies (and many still feel the need for US military protection), one day they are prophesied to break ties with the US and plot for its downfall (cf. Psalm 83:2-8; see also Is the Future King of the South Rising Up?).
In 1966 and 1979, the old Radio/Worldwide Church of God taught that the mainly Arabic King of the South power would arise and make a deal with the European King of the North as shown in Psalm 83:
But who is the “king of the south”?…in verse 40 we skip to “the time of the end”…The verse undoubtedly found partial fulfillment in the offensive of 1896…But Mussolini did not finish the prophecy…Just as there is yet to be a final “king of the north”…there may very well emerge in the same manner a final “king of the south”–an overall leader of an Arab-Moslem confederation, possibly bearing the very title Mahdi…a prophetic psalm (Psalm 83) provides additional insight into the Mideast picture. Germany (Assyria in Bible prophecy) and perhaps the rest of Europe will be in league in the future with a union of Arab nations…But in the end, this European-Arab alliance will prove short-lived…And the king of the north shall come against him [the king of the south]…Daniel 11:40-41…The Arab-Moslem Confederation will, of course, be thrown into chaotic disarray in the fact of invasion. (Stump K. The Arab World in Prophecy. Plain Truth, December 1979, pp. 11-12).
They have said, Come, and let us cut them off from being a nation; that the name of Israel may be no more in remembrance. For they have consulted together with one consent: they are confederate against thee: The tabernacles of Edom [Esau or modern-day Turkey, a non-Arab but Islamic nation] and the Ishmaelites [Saudi Arabia]; of Moab [part of Jordan] and the Hagarenes [anciently these people dwelt in the land known as Syria today]; Gebal [Lebanon], and Ammon [modern Jordan], and Amalek [part of the Turks]; the Philistines [the modern Palestinian Arabs] with the inhabitants of Tyre [Lebanon]; Assur [whose descendants, the Assyrians, migrated to Germany] also is joined with them: (Stump K. The Arab World in Prophecy. Plain Truth, December 1979).
Turn to the astounding prophecy found in Psalm 83:1-8. David, inspired of God, predicted the coming time when ALL of Israel’s enemies would join together in an effort to crush out even the name “Israel” from the face of the earth! (Verse 4) “For they have consulted together with one consent: they are confederate against thee…” (verse 5). Notice the nations making up this confederation. “Edom [Turkey], and the Ishmaelites [Saudi Arabia]; Moab [Jordan], and the Hagarenes [they anciently dwelt in the land known as Syria today]; Gebal {Lebanon}, and Ammon [Jordan] and Amalek; the Philistines with the inhabitants of Tyre; Assur [whose descendants migrated to Germany] is joined with them; they have helped the children of Lot” {Moab and Ammon in modern Jordan). Here we see that the Arab nations mentioned are allied with Germany (Assur) which we know from other prophecies will be the military leader — naturally so — of a United States of Europe…Egypt…will provoke the prophesied United Europe (Dan. 11:40). This European power — called the “king of the north” in Daniel 11 — shall invade and occupy the “glorious land” of Palestine (verse 41). “And the land of Egypt shall not escape”(Boraker R. SYRIA RAIDS ISRAEL – Where Is It Leading? Plain Truth. November 1966)
In the 21st century, former WCG member Craig White had a slightly different identification of the nations in Psalm 83:
“Keep not Thou silence O God …
For lo, Thine enemies make a tumult …
They have taken crafty counsel against Thy people …
They have said, ‘Come and let us cut them off from being a nation: that the name of Israel may be no more in remembrance.’
They are confederate against thee:
The Tabernacles of Edom [Turkey and Central Asia], and the Ishmaelites [Saudi Arabia], Of Moab [Jordan, with some in Syria and Iraq] and the Hagarenes [Saudi Arabia]:
Gebal [in Lebanon] and Ammon [Jordan], and Amalek [Central Asians]: the Philistines [Berbers and possibly the Palestinians] with the inhabitants of Tyre [southern Italians, symbolic also of the United Europe]
Assur [Germany] also is joined with them” (Ps 83:1-8). (White C. : Rise of the King of the North. Email, received September 12, 2015)
Psalm 83 is very likely to involve terrorism–taking “crafty counsel” sounds like plotting terrorism (see also Why Terrorism? Is Terrorism Prophesied?). The Europeans will make a destructive deal with those of the Middle East and North Africa. It would seem that the King of the South will employ some type of warfare and terrorism against the descendants of Israel. The Bible specifically warns about “terror” as a curse for the descendants of Jacob (Leviticus 26:16; Jeremiah 15:8; Deuteronomy 32:25) and since terrorism has often been used by Islamists, this may be part of how they will contribute to the destruction of the nation of Israel and the Anglo-descended peoples that Psalm 83 and Daniel 11:39 alludes to. Some Muslims want a leader called the Imam Mahdi, while others call for a Caliph, to lead them and create some type of Islamic empire in the 21st century (see also The Prophesied ‘Islamic’ Confederation. This deal in the 83rd Psalm will affect the USA, Canada, UK, and possibly Australia and even New Zealand.
The conference going on in China right now seems to be a step to further separate the Arabs from the Anglo-Americans.
But you will not hear much about it by most of the American media.
Although secular sources do not realize it, many events are aligning with properly understood biblical prophecies.
Some items of possibly related interest may include:
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Is the Future King of the South Rising Up? Some no longer believe there needs to be a future King of the South. Might Egypt, Islam, Iran, Arabs, or Ethiopia be involved? Might this King be called the Mahdi or Caliph? What does the Bible say? A YouTube video of related interest may be: The Future King of the South is Rising.
The Arab and Islamic World In the Bible, 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? What about the Imam Mahdi? What lies ahead for Turkey, Iran, and the other non-Arabic Muslims? An item of possibly related interest in the Spanish language would be: Líderes iraníes condenan la hipocresía de Occidente y declaran que ahora es tiempo para prepararse para el Armagedón, la guerra, y el Imán Mahdi.
China’s Silk Road and Babylon the Great China has been embarking on a multi-trillion dollar project to build roads and ports to connect more of Asia, Africa, the Middle East, and Europe to it. This has been called the ‘Belt and Road Initiative,’ Silk Road Project, Silk Road 2.0, and the One Belt, One Road Initiative. While this is expected to benefit Chinese trade (as well as provide infrastructure for the gathering at Armageddon), could this also benefit the rise of Babylon the Great foretold in the Book of Revelation and scriptures in the Old Testament? What about the proposed Polar Silk Road? Will the benefits to Europe last or will the end time ‘daughter of Babylon’ possibly face invasion from nations involved with the Silk Road project? Dr. Thiel addresses these issues with scriptures from the Bible in this video.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? 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. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
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 Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? Two YouTube video are Is China THE Threat to the United States of America? and China: A King of the East.
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? What about the Eurasian Economic Union (EAEU)? A related video would be Is The Eurasian Union Rising?
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
Gentile Cryptocurrency Proposal Two Russian leaders have called for a BRICS-wide and/or EAEU-wide cryptocurrency. This is hoped to be used to replace the US dollar for international trade. BRICS stands for Brazil, Russia, India, China, and South Africa. The BRICS nations represent 3.6 billion people. The EAEU includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Will Gentiles rise up? Are there any prophetic ramifications of what these nations are looking to do? This is a video.
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”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2027 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
When Will the Great Tribulation Begin? 2019, 2020, or 2021? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter and newer video is: Might the Great Tribulation start in 2019?
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon. Other videos include: Armageddon Will it come on Trump’s watch?, Iraq, Armageddon, & Prophecy, Freemasonry, Armageddon, and Rome, Is China paving roads to Armageddon?, and Jordan, Petra, and Armageddon.
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? 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 Donald Trump and America’s Apocalypse-Kindle Edition.
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