Rickards: Is This The Moment Of Truth? COGwriter: No, but the stage is being set for the end of the US dollar

Is the US dollar about to collapse? Jim Rickards seems to think so:

Is This The Moment Of Truth?

The U.S. national debt has been accumulating slowly for decades. There is no plan to make it sustainable; just a vague wish that the creditors will keep expanding the debt or rolling it over.

The U.S. has a lot of “friends,” both at home and abroad, who expect benefits whether in the form of entitlements, foreign aid, government contracts, or tax breaks. Clearly the U.S. Congress and White House each exhibit a complete lack of control. The café scene is complete.

The question is whether the U.S. is now at the point of “suddenly” going bankrupt. Of course, the U.S. won’t actually go bankrupt. It can print all the money it needs to pay off its debts in nominal terms. The issue then is a matter of when that kind of money printing becomes necessary, and under what conditions. …

What if the dollar suddenly became as unwanted as the French franc in 1925?

Consider the evidence that the U.S. may now be dangerously close to the “suddenly” stage of Hemingway’s bankruptcy scenario after years in the “gradually” stage:

Congress has enacted the Trump tax cut, which blows a $1.5 trillion hole in the budget deficit. The belief that tax cuts will stimulate enough growth to pay for themselves is a sheer fantasy shared by Larry Kudlow, Art Laffer, and very few others.

Congress has also removed discretionary spending caps on domestic and defense spending that have been in place since 2011. At the same time, Congress reinstated “earmarks” that allow members to spend money on pet projects. These two acts will add another $300 billion per year to the U.S. deficit.

Student loan defaults are now running at 20% per year and the volume of student loans exceeds $1.5 trillion, far more than the amount of junk mortgages in 2007, and with a much higher default rate. Covering these losses will add another $200 billion per year to federal deficits for years to come.

The U.S. debt-to-GDP ratio is now over 105%. This is well past the 90% “danger zone” identified by economists Ken Rogoff and Carmen Reinhart. Once in the danger zone further borrowing actually causes growth to decline rather than acting as a “stimulus.”

Russia, China, Iran, Turkey and other adversaries of the U.S. are stockpiling thousands of tons of gold as a hedge against the inflation they expect as the U.S. tries to print its way out of its non-sustainable debt.

There are many other signs that the day of reckoning on the U.S. debt situation is coming much faster than experts believe. Fiscal policy is now characterized by a complete “lack of control” …

bankruptcy comes much faster than anyone, especially the bankrupted himself, expects.

The U.S. is much closer to an inflection point than the Congress and the White House realize. The pot is beginning to boil. 04/10/18 https://dailyreckoning.com/is-this-the-moment-of-truth/

The rise of US debt was listed by me as number 10 of 18 items to prophetically watch in 2018 (here is a link to a related sermon: 18 items to prophetically watch in 2018).

The USA is getting closer to the time when its dollar will collapse.

The USA is on a “road to ruin.”

But “the end is not yet” (Mark 13:7).

What we now see are various nations around the world, along with organizations like the International Monetary Fund, taking steps to dethrone the US dollar as the world’s primary reserve currency.

Yet, as far as timing goes, Jim Rickards is correct that the fall of the USA is expected to be sudden.

Consider that the Apostle Paul wrote:

3 For when they say, “Peace and safety!” then sudden destruction comes upon them, as labor pains upon a pregnant woman. And they shall not escape. (1 Thessalonians 5:3)

While the Bible shows that debt will be one of the reasons (cf. Habakkuk 2:2-8) leading to the destruction of the USA, Jesus laid out various issues and troubles (Matthew 24:4-8, Mark 13:5-8) that will occur BEFORE the Great Tribulation (Matthew 24:21-22) begins.

The Bible shows that the Anglo-American world order will come to an end (Jeremiah 30:7; Daniel 8:24-25, 11:39) and be replaced by the final time of the Gentiles (see also The Time of the Gentiles).

The USA will have a financial crisis beyond what even Jim Rickards would consider possible.

Those who think the current world order with the USA’s dollar on top will last several decades are in error.

The idea that the debt does not matter is a false and arrogant belief.

The Bible teaches:

18 Pride goes before destruction, And a haughty spirit before a fall. (Proverbs 16:18)

It is prideful arrogance that gets humans to think that they can essentially completely control the economy and just borrow and print up money. They cannot. Weather, political events, diseases, wars, morality, technology, and other factors play a role.

Plus, there is also the matter of debt accumulation by the USA and biblical prophecy.

Those who will believe the Bible will take the words that God spoke to the prophet Habakkuk seriously.

Now, consider the following news item from Business Insider:

You’re making a high-stakes bet that everything is going to be ok in that one country — forever.

All it would take is for the economy to tank, a natural disaster to hit, or the political system to go into turmoil and you could lose everything—your money, your assets, and possibly even your freedom. 03/21/18 http://www.businessinsider.com/the-national-debt-is-rising-much-faster-than-the-economy-2018-3

One of the reasons that the above was interesting to me is that I wrote the following in my book Donald Trump and America’s Apocalypse:

The debt situation of the U.S.A. is putting it at risk of being unable to recover should it be hit by weather problems, terrorist acts, war, riots, solar flares, severe earthquakes, civil unrest, devastation of their genetically-modified food supplies, food shortages, and/or various pestilences–an intensity of “sorrows” such as Jesus discussed in Matthew 24:4-8 leading up to the time of the Great Tribulation. Political issues, climate change, trade policies, communication’s deals, and other events are pushing the U.S.A. to a position that will encourage its takeover someday. Disasters, especially if there is an ElectroMagnetic Pulse (EMP) attack or a severe solar flare storm, could be part of a so-called “perfect storm” of events that could set the USA for destruction. (Thiel B. Donald Trump and America’s Apocalypse. Nazarene Books, 2017)

Neither the Federal Reserve nor the US government can stop weather problems, earthquakes, or the prophecies in Matthew 24:4-8 that will lead up to the time of the Great Tribulation. It is likely that the combination of debt and disasters will lead to the sudden collapse of the USA dollar.

Do not believe that the USA will continue indefinitely and that its dollar will reign supreme internationally.

The USA and its Anglo-Saxon allies will not last to the end of this century (watch also End of the Anglo-American Order).

Some items of possibly related interest include the following:

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.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
End of the Anglo-American Order In mid-2017, BBC ran an article under the headline of “End of the Anglo-American order?” Is that really a question or the biblical reality? After the Brexit vote, the election of US President Donald Trump, and US rejection of the Paris accords on climate change, is the world really going to put in a different order? Some are claiming that Europe or Germany will head up this new world order–an order that sounds eerily similar to one essentially proposed and approved by the United Nation in 2015. Is the UN’s “Agenda 2030” a false gospel? How will this end for the USA, UK, Australia, Canada, and New Zealand? Will there later be something better to replace it? Dr. Thiel addresses these issues and more. This is a video.
Are You Being Called by God? Norman Shoaf wrote various points to consider.
Is God Calling You? Alfred E Carrozzo wrote this.
What Did Christ Mean Many Are Called, But Few Are Chosen? This article was by Raymond McNair.
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (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-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?
Will the Anglo-Saxon 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? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
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?
When Will the Great Tribulation Begin? 2018, 2019, or 2020? 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 video is: Can the Great Tribulation begin in 2018?
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.
Protestant and Church of God views of the United States in Bible Prophecy Is the USA mentioned in Bible prophecy? Some Protestants say yes, while others say no. What does the Bible really teach? Learn the truth about this. There is also a video available: Is The United States Mentioned In Bible Prophecy?
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
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?
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? Here is a link to a video titled: The Future King of the North.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
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.
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?