Forbes: U.S. Dollar ‘Collapse’—Shock $8 Trillion Predicted Fed Inflation Flip To Spark A ‘Critical’ Bitcoin, Ethereum, XRP And Crypto Price Boom To Rival Gold
Tucker Carlson’s warning of the IMPENDING COLLAPSE of the US Dollar and subsequent GREAT DEPRESSION. My response. pic.twitter.com/NQVJ2lXRjD
— Meet Kevin (@realMeetKevin) August 31, 2023
RT posted the following:
Malaysia shifting away from US dollar
October 10, 2023
Malaysia is set to increase settlements in local currencies to reduce reliance on the US dollar, Prime Minister Anwar Ibrahim said on Tuesday.
“To entirely stop the reliance on the US dollar will be difficult, but Malaysia will be more active and aggressive in the use of ringgit (in trade),” Anwar told the parliament.
The process of de-dollarization is gaining momentum in Southeast Asia. The Malaysian prime minister noted that his country had agreements with Indonesia, Thailand, and China, its largest trading partner, to encourage more trade and investment in local currencies. …
Experts argue that the dollar and the financial institutions tied to it have become obsolete and should no longer be the primary reliance. https://www.rt.com/business/584537-malaysia-trade-local-currency/
While some may discount Malaysia, Indonesia, and Thailand, between them they have a population of over 378 million–compared to the USA with a population of about 332 million.
And then there are the so-called BRICS nations, which have billions of people and who also want to push aside the USA dollar (see also DW: BRICS summit: Leaders eye expansion, common currency).
When enough nations drop the USA dollar, this will be disastrous for the USA.
Sadly, the USA itself keeps taking steps that are encouraging other nations to look past its dollar.
Forbes posted the following:
U.S. Dollar ‘Collapse’—Shock $8 Trillion Predicted Fed Inflation Flip To Spark A ‘Critical’ Bitcoin, Ethereum, XRP And Crypto Price Boom To Rival Gold
October 10, 2023
Now, as the Federal Reserve grapples with a $33 trillion U.S. “debt death spiral,” Jefferies’ analysts have warned the Fed will be forced to restart its money printer—potentially collapsing the U.S. dollar and fueling a bitcoin price boom to rival gold.
“G7 central banks, including most importantly the Federal Reserve, will not be able to exit from unconventional monetary policy in a benign manner and will ultimately remain committed to ongoing central bank balance-sheet expansion in one form or another,” Christopher Wood, global head of equity strategy at Jefferies, wrote in a note to clients seen by CNBC, calling bitcoin and gold “critical hedges” against the return of inflation.
The Fed began the laborious task of shrinking its swollen near-$9 trillion balance sheet in the spring of 2022 following huge expansion though the Covid-19 pandemic and economically disastrous lockdowns. So-called quantitative tightening sees the Fed suck liquidity out the financial system, passing on the burden of freshly issued debt to the private sector.
As well as reducing its balance sheet, the Fed has been hiking interest rates at a historic clip as it struggles to bring soaring inflation under control, creating what some fear could become a counter-intuitive “death spiral” for the U.S. dollar that ultimately pushes up the bitcoin price. …
Meanwhile, bitcoin—and to a lesser extent other major cryptocurrencies such as ethereum and XRP—have seen a sharp rise in institutional interest, led by the world’s largest asset manager BlackRock. https://www.forbes.com/sites/digital-assets/2023/10/10/us-dollar-collapse-shock-8-trillion-predicted-fed-inflation-flip-to-spark-a-critical-bitcoin-ethereum-xrp-and-crypto-price-boom-to-rival-gold/?sh=42c091a26cec
Elon Musk Declares The U.S. Dollar ‘A Scam’ Amid Fears Of $33 Trillion U.S. ‘Debt Death Spiral’ As The Bitcoin Price Soars
Tesla TSLA -0.3% billionaire and X (Twitter) owner Elon Musk has weighed in on the current state of the U.S. dollar, calling it a scam.
Musk was commenting on an X post asking: What’s a scam that’s so normalized we don’t even realize it’s a scam anymore? “Fiat currency,” Musk replied, referring to state-issued money backed by government borrowing rather than a scarce resource like gold or bitcoin.
Over the last week, some fiat currency skeptics have warned soaring U.S. debt could create an inflationary “death spiral” for the U.S. dollar that ultimately pushes up the price of bitcoin. https://www.forbes.com/sites/digital-assets/2023/10/03/elon-musk-declares-the-us-dollar-a-scam-amid-fears-of-33-trillion-us-debt-death-spiral-as-the-bitcoin-price-soars/?sh=6dd4c2037d1a
Yes, one day the USA dollar will face an inflationary “death spiral.” What has been going on with it, and the rising USA debt, is a scam.
Tucker Carlson, Elon Musk, and others who say that the USA dollar will collapse are correct.
But, the situation will be worse than they and most others think.
Here are some comments from my free online book, Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?:
Many have complained about the U.S.A. “weaponizing” its dollar through sanctions, bank restrictions, and other means.[i] By doing so, the U.S.A. has inadvertently been building up a coalition to push aside the dollar—and this will happen when the timing is considered to be better. European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the U.S. dollar from its position as the world’s primary reserve currency. The fact that Europe would develop its own currency, as well as for that purpose, was predicted by Church of God writers no later than 1971[ii] –which is over two decades before the euro was officially agreed to.
Those in Iran and some of the Arab lands, along with nations such as Brazil, China, and India have discussed plans for the removal of the dominance of the U.S.A. in global trade as well. The former (again current) President of Brazil, Luiz Inácio Lula da Silva, even claimed that eliminating the U.S. dollar’s reserve currency status was one of the reasons that the BRICS alliance (Brazil, Russia, India, China, and South Africa) was formed in the first place. [iii] Others have noted that bypassing the USA dollar is still an object of BRICS—and officially BRICS nations “are currently working on setting up a new global reserve currency,”[iv] which may have gold-backing.[v] The expansion of BRICS (which is in progress[vi]) may ultimately even hurt Australian trade as well as “severely weaken primacy of the US Dollar as an international currency.”[vii]
The Bible clearly warns against cheapening the money supply and encourages having money hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Debt is also warned against (Habakkuk 2:6-8). Yet policies enacted under the Obama, Trump, and Biden Administrations, following certain other administrations, have ignored these warnings.
Destruction is coming.
However, the relationship between debt accumulation and prophesied destruction remains unapparent to many. Because there is a time lag, many ignore that there will be real consequences (cf. Ecclesiastes 8:11; Habakkuk 2:3,6-8). Yet, massive increases of debt are utterly dangerous.
When the time comes that the Federal Reserve is no longer able to keep interest rates low enough, the U.S.A. will continue past the point of no return. That will become one of the final factors that will cause creditors to rise up and destroy the U.S.A.
The Economy
While pushing biblically immoral ideas and massively accumulating debt are bad for the real economy, it should be noted that economies vary. A modern reality is that being the world’s de facto reserve currency has helped prolong the U.S.A.’s dominance.
When the U.S. dollar is no longer the world’s reserve currency, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will correctively punish the U.S.A. for (cf. Ezekiel 22:13-16).
Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, but not yet, the U.S.A. dollar will become worthless (worth no more than the scrap or sentimental value of the cotton-paper it is printed on). The same will basically happen to the British pound, as well as the Australian, Canadian, and New Zealand dollars.
Will it always be straight downhill for the economy of the U.S.A. or its British-descended allies?
No.
There are some reasons to have some temporary optimism. The U.S.A. has a wide diversity of agricultural, manufacturing, extraction (mining/pumping) and other industries as do its British-descended allies. In addition, technological and other developments may temporarily support the U.S. economy—as can reductions of regulatory burdens.
As far as delays to the end of the U.S.A. and its British-descended allies go, consider something that was told to a king who was prophesied to lose his kingdom:
27 Therefore, O king, let my advice be acceptable to you; break off your sins by being righteous, and your iniquities by showing mercy to the poor. Perhaps there may be a lengthening of your prosperity. (Daniel 4:27)
Repentance can prolong prosperity, but promotion of sin leads to destruction. However, it is not expected top U.S.A. leaders nor those of its British-descended allies will push for scriptural national repentance.[i] Jayakumar V. The weaponization of finance threatens the future of the dollar standard. The Hill, March 1, 2022
[ii] Hogberg G. Rising World Colossus. Plain Truth magazine, May 1971
[iii] Escobar P. BRICS was created as a tool of attack: Lula. Asia Times, August 28, 2019
[iv] BRICS developing new global reserve currency – Putin. RT, June 22, 2022
[v] Helms K. Economists Discuss Russia, China Potentially Developing Gold-Backed Currency. BRICS Information Portal, November 11, 2022
[vi] US Responds to Massive BRICS Expansion Effort As Nations Push to Launch Global Currency, Ditch Dollar. Daily Hodl, May 5, 2023
[vii] Hunter M. BRICS Is Becoming The Big Kid On The Block: Implications For Australia – Analysis. Eurasia Review, November 1, 2022
My book, Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?, also has the following related to the dollar and gold:
Since many are now questioning the role of the U.S.A. dollar as the world’s reserve currency, more are looking into other currencies as well as gold.
Gold will set records in U.S. dollar terms.
In 2017, I also published that last statement in my book related to Donald Trump, and it did hit records in July and August in 2020. [i] Now, despite having ups and downs, gold will set further records in U.S. dollar terms in the relatively near future.
It has been asserted that:
The only replacement for fiat {currency} is a currency credibly backed by gold.[ii]
Although the above can be debated, the reality is after the elimination of the U.S.A. and the crash of its dollar, the world will want something more stable than unbacked currency. Thus, it is likely that some type of gold-backed currency will emerge as the preferred reserve currency in the world.
It has long been reported that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”[iii] Various steps were also taken in 2022.[iv]
When the U.S. dollar totally collapses people all around the world will consider that even if the euro (or something similar) is strong, having a more gold-backed currency would be safer.
The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies. The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the U.S.A. dollar or various other currencies.
Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.
The debt accumulation policies of the Obama-Biden and the Trump-Pence Administrations, which were a massive acceleration of the previous policies of the Bush Administration, have to a large degree been continued by a Biden-Harris Administration.
The increases in America’s debt are leading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.
The U.S.A. and its dollar are at serious risk.
Ezekiel 5:4 seems to show that after the U.S.A. and its British-descended allies are eliminated, fire will spread to “all the house of Israel.” Amos 6:3-7 also shows captivity coming to remaining Israelites after the house of Joseph gets afflicted. Thus, all the “lost tribes” will be affected.
This would happen after the fulfillment of Daniel 11:39.
[i] Gold hits new record, posts best month since 2016 CNBC, July 30, 2020; Woodall T. Gold surges to new highs as US dollar weakens despite growing macro risks. S&P Global, August 10, 2020
[ii] MacLeod A. Designing a new currency is impractical. Goldmoney Insights, March 24, 2022
[iii] Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016
[iv] Guistra F. Why the U.S. dollar will be replaced as the dominant global currency — sooner than you think. Toronto Star, July 5, 2022
A while back, we put together the following video:
China introduced something that was called the gold-petro-yuan back in 2018. Since then, the global share of US-dollar-dominated exchange reserves have dropped to 59.0%. In April 2021, China became the first major economy to unleash a Central Bank Digital Currency. China also has given its banks permission to import large amounts of gold. Is China preparing for a gold-backed yuan to push aside the US dollar or to help it survive a US dollar cataclysm? Are other nations preparing to push the US dollar aside? Do Europeans seem to have the most gold? Are Europeans prophesied to gain more gold? Is the US debt trajectory sustainable per Fed Chairman Jerome Powell? Does the Bible warn of the end coming to the highly indebted in Habakkuk 2:6-8? Why does it looked like a gold-backed currency will replace the US dollar? Will the US dollar, ultimately, become essentially worthless? Dr Thiel addresses these issues and more.
Here is a link to our video: Gold Backed Currency to Replace the US Dollar?
Consider that the USA is also in more debt than any other nation in the history of the world.
A real reckoning will happen.
How do I know this?
Partially, because the Bible teaches the following:
12…Those who lead you cause you to err, And destroy the way of your paths.” (Isaiah 3:12)
16 For the leaders of this people cause them to err, And those who are led by them are destroyed (Isaiah 9:16).
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).
The above prophecy will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come,” Daniel 10:1,14). Daniel 8:19, 11:27,29,35 use the same Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently. Also, it makes little sense that Habakkuk 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 at the appointed time of the end.
The nation with the greatest debt of all time is the United States of America. Despite posturing, sequestration, budget committees, government shutdowns, etc. that were supposed to correct this, the USA is intent on increasing its total debt–this is unsustainable and cannot continue in perpetuity. The debt is much more dangerous than the predominant view that politicians in the USA publicly state.
Related to USA debt, we put out the following video:
And the Debt Goes On …
On June 3, 2023, US President Joe Biden signed a bill to increase the official debt-ceiling of the United States. According to the US Treasury the “ceiling” has been changed, increased, or delayed 78 other times. The official debt has nearly tripled since the Obama-Biden Administration. The official debt increased about $2 trillion per year under Donald Trump’s Administration and has done close to that in the Joe Biden Administration. While the USA has been able to increase debt with limited consequences (like inflation) so far, does the Bible show this can end in destruction? What did God warn about debt through the prophet Habakkuk? Is getting into high amounts of debt a blessing or curse according to the Bible? Do Democrats or Republicans currently have a plan that will now be implemented to pay off the debt? Has the USA been functioning as an international “leech” consistent with statements in the Book of Proverbs? Does the Bible say it is wicked to borrow money you do really intend to repay? Steve Dupuie and Dr. Thiel cover these matters.
Here is a link to our video: And the Debt Goes On …
The Bible teaches that debt is one of the curses that happen to the disobedient:
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: (Deuteronomy 28:15)
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. 46 And they shall be upon you for a sign and a wonder, and on your descendants forever.
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. (Deuteronomy 28:43-51)
The end result of the coming massive financial crisis will be the END OF THE USA!
However, this will not happen this month, this year, nor even during the first term of the Biden-Harris Administration.
But it will come to pass (Habakkuk 2:3,5,6-8; Deuteronomy 28:42-45,47-52).
This will not end well for the USA nor its Ango-Saxon-Celtic descended allies.
While your nation probably will not repent (Anglo or otherwise), you can. Do not wait until it is too late.
The fact that the USA continues to NOT solve its debt problems should serve as a wake-up call that the end of the USA will be coming as the Bible predicts.
Several 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.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Could 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? 2031 or 2025 or? There is also a video titledWhen Does the 6000 Years End? 2031? 2035? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
When Will the Great Tribulation Begin? 2023, 2024, or 2025? 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 la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Notice also: Can Jesus return in 2023 or 2024? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection; here is a message in Spanish: Me Está Llamando Dios Hoy? A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? Two related sermons about this are also available: Real Repentance and Real Christian Repentance.
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