Richard Ames on Debt and Protection

Living Church of God Evangelist Richard Ames

Evangelist Richard Ames reported the following in his latest co-worker letter of the Living Church of God:

German leaders have even pressed for the right to manage Greece’s national budget, evoking cries of protest that Greek sovereignty was at risk. We all need to realize, individually and nationally, that “The rich rules over the poor, and the borrower is servant to the lender” (Proverbs 22:7). As the EU struggles, the U.S. continues to print more and more currency without any material backing. Our Tomorrow’s World magazine cover article, “The Debt Bomb”—written by Mr. Dexter Wakefield, our Director of Business Operations—warned: “Estimates suggest that the total federal budget deficit in 2011 will reach $1.6 trillion! Along with this sobering news, the International Monetary Fund projects that total U.S. debt will exceed the nation’s annual output of goods and services sometime in 2012!” (July-August, 2011). In fact, as of February 2012, the Congressional Budget Office was reporting the U.S. federal budget deficit for 2011 as having reached 1.6 trillion, while by the end of 2011 the total federal debt had already exceeded 100 percent of Gross Domestic Product! Unless our Western nations repent of their serious financial irresponsibility, these dangerous trends will continue and intensify!

In its Winter 2012 issue, The Wilson Quarterly featured a series of eye-opening articles titled “Lessons of the Great Depression.” The cover photo, from 1930, shows an unemployed man in front of the U.S. Capitol Building in Washington, DC, selling an apple to a congressman for five cents. How serious are Western financial troubles? “The recession of 2008-09 and its aftermath more closely resemble the Great Depression than any of the other Post-World War II recessions. Indeed, this episode might aptly be called the Mini-Depression of 2008-2009. Both economic declines involved the interplay among the collapse of real estate values, the decline of banks’ capital and their willingness to lend, and the desire of households to rebuild financial wealth” (“Great Recession or Mini-Depression?,” Robert Z. Aliber, p. 56).

What were the causes? “In both the 1920s and the mid-2000s, economic euphoria was pervasive as bubbles in asset prices led to surges in spending—and those spending increases further inflated the bubbles that had fostered them in the first place. Then asset prices imploded, household wealth shrank, and banks suffered large losses when borrowers were unable to repay their loans” (ibid.).

Will we individually and nationally learn our lesson? The Creator and Governor of the universe gave ancient Israel a prophetic warning that also applies to us today, “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. And they shall be upon you for a sign and a wonder, and on your descendants forever” (Deuteronomy 28:43-46).

Unless the Western nations repent of their increasing transgressions and rebellion against God, we will not see a reversal of the dangerous downward financial trends we have been experiencing! The U.S., once the world’s greatest creditor, seems bent in solidifying its status as the world’s greatest debtor nation! The nation of China alone currently holds about $1.1 trillion of U.S. national debt, followed by Japan with $1.0 trillion—each overshadowing the third-place creditor nation, the United Kingdom, which holds $429 billion.

My friends, in what can we have confidence in these difficult times? In our wealth? No! We need to draw closer than ever to God as the end of this present age comes ever nearer. God has given His people many comforting promises, such as Philippians 4:19, “And my God shall supply all your need according to His riches in glory by Christ Jesus.” Jesus Himself promised us the gift of faith, as well as our physical needs, if we commit ourselves to the greatest goal ever given to human beings: “But seek first the kingdom of God and His righteousness, and all these things shall be added to you” (Matthew 6:33).

We can have faith as we zealously strive to fulfill the Great Commission to preach the gospel to the whole world. Jesus stated, “And this gospel of the kingdom will be preached in all the world as a witness to all the nations, and then the end will come” (Matthew 24:14). In the previous verses, He gave us prophetic warning signs leading up to the Great Tribulation. As Dr. Meredith reported in last month’s co-worker letter, “The Doomsday Clock, a symbolic gauge of nuclear danger, has moved one minute closer to midnight because of ‘inadequate progress’ on nuclear and climate issues. The Bulletin of the Atomic Scientists (BAS) announced the move—to five minutes before midnight—on Tuesday. The clock last moved one minute back in 2010.”

Yes, it is symbolically only five minutes to midnight! Will we soon experience the “midnight” doomsday? The Bulletin announcement concluded with this sobering warning: “The clock is ticking.” Yes, the time is growing shorter and shorter. But God promises protection for His spiritually alert people in the dangerous times ahead. Jesus exhorts us, “Watch therefore, and pray always that you may be counted worthy to escape all these things that will come to pass, and to stand before the Son of Man” (Luke 21:36).

Some financial planners recognize that the clock is ticking. Barron’s: The Dow Jones Business and Financial Weekly assembled a “2012 Roundtable” consisting of ten investment experts, and asked them to analyze and discuss the financial “big picture.” How can investors profit in the unpredictable and unstable world financial condition? One analyst, Mark Faber, stated: “On another optimistic note, World War III will occur in the next five years. That means the Middle East will blow up. New regimes there will be less Western-friendly. The West has also figured out it can’t contain China, which is rising rapidly and will have more military and naval power in Southeast Asia. The only way for the West to contain China is to control the oil tap in the Middle East” (January 16, 2012, p. 35).

Faber also commented on the price of oil: “Oil is around $100 a barrel now. How high it goes depends on how much [Federal Reserve Chairman Ben] Bernanke prints. If there is a disturbance in the Middle East, the sky is the limit” (ibid., p. 36). These factors affect the profit of cagey speculative investors. By the way, if you have not read our insightful booklet, The Middle East in Prophecy, be sure to request your free copy.

Many economists and financial experts know the challenges of our changing global economic realities. They are focused on how to profit from times of crisis. But what they do not know is that Bible prophecy reveals not only the amazing sequence of world events actually leading up to World War III and Armageddon, but also how God’s most faithful people will be protected through these difficult times, and will receive God’s blessings far beyond what today’s financial planners can begin to understand. Our Tomorrow’s World magazine and our weekly telecasts document these vital truths of Bible prophecy. Watch for my upcoming Tomorrow’s World program, currently scheduled for April 12-18, titled “2012 and the Apocalypse.” And do not miss Dr. Meredith’s powerful program, “How to Watch World Events,” scheduled to air April 5-11.

Even though “the clock is ticking,” God does not want us to be fearful. Our Father in heaven expects His servants not only to do their part in supporting His Work, but also to grow personally in the grace and knowledge of Christ (2 Peter 3:18). One way we grow is through earnest Bible study and seeking God’s precious truth…

Brethren and co-workers, in order to meet the many challenges of these end-times in which we now live, we must go forward in faith in completing the Great Commission, and we must continue to grow in the grace and knowledge of Jesus Christ. Jesus gave this encouraging truth: “Blessed is that servant whom his master will find so doing when he comes” (Luke 12:43). Let us all work while it is day in preparing the world, the Church and ourselves for the coming of the King of kings. Jesus said, “I must work the works of Him who sent Me while it is day; the night is coming when no one can work” (John 9:4).

May God bless you all as we individually and collectively serve our Lord and Savior in completing His Work while it is day!

With love, in Jesus’ name,

Richard F. Ames

The debt situations in Europe, the USA, and UK are serious. They are starting to result in changes in those societies, and many of those changes will ultimately not be good. Notice also the following:

The United States has the largest debt in the world…

US News & World Report – Jan 28, 2011 http://www.usnews.com/news/articles/2011/01/28/the-10-countries-with-the-most-debt

Americans do not realize that for the last four decades that they have been spending their assets and getting into debt to finance their lifestyles–and that nation has even if not all individuals have. But as that nation continues to print currency, eventually all who continue to depend on the USA dollar will suffer when it becomes worthless; and the same can be said of the British pound. And the value of the euro is likely to continue to fluctuate as debt, austerity, and more civil unrest are likely to shake investors confidence in that partially fragile union (cf. Daniel 2:41-43).

We in the Living Church of God believe that we must strive to fulfill Jesus’ statements He made about gospel proclamation in scriptural passages such as Matthew 24:14; 28:19-20. And we believe that now is the time for people to take spiritual and physical action as time is getting shorter.

(The rest of the latest co-worker letter, including the portions related to Living University and LCG income, etc., is available at the News of the Living Church of God page.)

Some articles of possibly related interest may include:

The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? True religion should be based upon the true gospel.
Are You Saved? Do You Love Jesus? What is a True Christian? What is the Gospel? Evangelist Richard Ames answers those important questions.
True vs. False Conversion Are you really converted or willing to be? What is true conversion? What is false conversion? What are the dangers of false conversion? Evangelist Roderick Meredith provides information on those important questions.
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.
Getting the Gospel Out is More than a Local Job Discusses Biblical rationale for doing an international, and not just a local, work.
Should the Church Still Try to Place its Top Priority on Proclaiming the Gospel or Did Herbert W. Armstrong Change that Priority for the Work? Some say the Church should mainly feed the flock now as that is what Herbert W. Armstrong reportedly said. Is that what he said? Is that what the Bible says? What did Paul and Herbert W. Armstrong expect from evangelists?
There are Many COGs: Why Support the Living Church of God? This is an article for those who wish to more easily sort out the different COGs. It really should be a MUST READ for current and former WCG members or any interested in supporting the faithful church. It also explains a lot of what the COGs are all about.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in 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 and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? 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?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future.
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
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?
Did The Early Church Teach Millenarianism? Was the millennium (sometimes called chiliasm) taught by early Christians? Who condemned it. Will Jesus literally reign for 1000 years on the earth? Is this time near?
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? What year may the six thousand years of human rule end? When will Jesus return? 2018 or 2019?
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something?
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?
When Will the Great Tribulation Begin? 2012, 2013, or 2014? 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?