{"id":38553,"date":"2016-10-10T07:00:59","date_gmt":"2016-10-10T15:00:59","guid":{"rendered":"http:\/\/www.cogwriter.com\/news\/?p=38553"},"modified":"2016-09-17T14:07:25","modified_gmt":"2016-09-17T22:07:25","slug":"ken-rogoff%e2%80%99s-government-debt-default-plan","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/ken-rogoff%e2%80%99s-government-debt-default-plan\/","title":{"rendered":"‘Ken Rogoff\u2019s Government Debt Default Plan’"},"content":{"rendered":"

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<\/em><\/p>\n

COGwriter<\/a><\/p>\n

Here are some comments\u00a0by Peter Diekmeyer related to book that came out recently titled The Curse of Cash<\/em>:<\/a><\/p>\n

Ken Rogoff\u2019s Government Debt Default Plan<\/strong><\/p>\n

Ken Rogoff is by all accounts a brilliant man. The Harvard professor and former IMF chief economist is a chess grandmaster. His thesis committee included current Fed vice-chair Stanley Fischer. But like many survivors of Ivy League hoop jumping, the poor fellow appears to have emerged punch drunk.<\/p>\n

That\u2019s the only conclusion to be drawn from Rogoff\u2019s new book, The Curse of Cash <\/em>, which, in effect, proposes a ban on paper currency.<\/p>\n

It\u2019s terrifying piece of work, for several reasons.<\/p>\n

First, the cashless society, which Rogoff proposes in order to make it easier for the US government to confiscate private wealth, in effect, amounts to an admission that Washington can\u2019t pay back its debts.<\/p>\n

Second, the fact that Rogoff uses the fight against \u201cterrorism\u201d and \u201ccrime\u201d arguments in selling his proposals to the public – justifications which he as a mathematician should know are farcical – suggest that his arguments hide another agenda.<\/p>\n

Third, and most important, is the fact that not only would banning cash not achieve Rogoff\u2019s objectives \u2013 it could cause irreparable harm to the dollar\u2019s role in the American economy and as a reserve currency.<\/p>\n

Rogoff’s \u201ccashless society\u201d is an elegant solution to a key problem bedeviling the Federal Reserve: with interest rates at the zero bound, the US central bank has no ammunition left to fight the next recession – because if cuts rates below zero, savers will withdraw their cash and put it under their mattresses.<\/p>\n

\u201cIn principle, cutting interest rates below zero ought to stimulate consumption and investment in the same way as normal monetary policy,\u201d Rogoff writes. \u201cUnfortunately, the existence of cash gums up the works.\u201d<\/p>\n

That argument is spurious at best.<\/p>\n

By now, it is fairly clear from experiences in Japan and the US since 2008 that below neutral level interest rates provide little or no net new economic stimulus. At best, easy monetary policy brings forward spending and investment from the future into the present.<\/p>\n

However, the US government and the Federal Reserve have spent, borrowed, and printed so much that there is no future left to mortgage.<\/p>\n

Rogoff, one of the country\u2019s top economists, knows this; which is an important clue that there is much more to his proposals than meet the eye.<\/p>\n

It seems clear that Rogoff\u2019s negative interest rate\/cashless society proposal is structured to engineer a back-door US government debt default.<\/p>\n

Over the long term, by forcing savers, businesses, and banks to give the US government their money, and allowing Washington to repay less of that money each year, the US can legally default \u2013 on all that it owes.<\/p>\n

More worrying for investors: the fact that Rogoff, Ben Bernanke and others are proposing negative rates despite the considerable evidence that they will do no economic good suggests that they believe that the US government cannot pay back its debts \u2013 that it is already insolvent. 09\/17\/16 http:\/\/www.zerohedge.com\/news\/2016-09-17\/ken-rogoff%E2%80%99s-government-debt-default-plan<\/a><\/p><\/blockquote>\n

I reported on this book once before (\u2018The Curse of Cash\u2019<\/a>), as well as the move towards cashlessness before from other sources (see, for example, M&M & CNN: European and other governments pushing towards cashless society where 666 can operate<\/a> and \u2018The End of the 500 Euro Note Could Lead to a Cashless Economy\u2019<\/a> and Harvard economist advises elimination of the one hundred dollar bill<\/a>). I also made videos about it (e.g. Cashless society in 2016?<\/a> and Eliminate the $100 bill?<\/a>).<\/p>\n

As many understand, electronic currency is easier for countries to control and even manipulate its value. Governments will be able to come up with more ways to tax and take.<\/p>\n

One reason\u00a0 I reported about it today was Peter Diekmeyer’s suggestion that eliminating cash will make it easier for the government of the USA to default on its debts.<\/p>\n

The Bible speaks of those that do “not like to retain God in their knowledge,” therefore,” God gave them over to a debased mind, to do those things which are not fitting” (Romans 1:28). And this is becoming more and more the case with some of the people that are considered to be ‘brilliant’ in this world.<\/p>\n

The idea of debt defaults through going cashless or somehow debasing the currency (which the US Federal Reserve and US federal government have both done) is wrong:<\/p>\n

The wicked borrows and does not repay (Psalms 37:21)<\/p><\/blockquote>\n

The USA will not be able to get away with defaulting on its debts\/pledges:<\/p>\n

6 “Will not all these take up a proverb against him,
\nAnd a taunting riddle against him, and say,
\n‘Woe to him who increases
\nWhat is not his \u2014 how long?
\nAnd to him who loads himself with many pledges’?
\n7 Will not your creditors rise up suddenly?
\nWill they not awaken who oppress you?
\nAnd you will become their booty. (Habakkuk 2:6-7)<\/p><\/blockquote>\n

Plans to not repay the USA debt will partially be responsible for the destruction that is coming to the USA (cf. Daniel 11:39).<\/p>\n

As far as a cashless society goes, the Bible has a prophecy consistent with having electronic currency and not cash:<\/p>\n

16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.<\/p>\n

18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666. (Revelation 13:16-18)<\/p><\/blockquote>\n

Though the USA is making some moves towards cashlessness, it will be a European power that will fulfill the above prophecy of 666 (watch Can You Prove that the Beast to Come is European?<\/a>).<\/p>\n

This type of financial surveillance could not have happened during the time of the Apostle John<\/a> as there was no real way to monitor many financial transactions then (despite the fact that \u2018preterists\u2019 believe this was fulfilled almost 2000 years ago, see also The Dangerous Rise of Preterists<\/a>). The same was true for all the centuries that followed until the late 20th and now the 21st century. But now not only does the technology exist to monitor most financial transactions, the political will is there as well.<\/p>\n

We are nearing the time of great distress and even more massive financial monitoring. More and more are publicly calling for it.<\/p>\n

Can you see this?<\/p>\n

We appear to be in the time that Jesus referred to as \u201cthe beginning of sorrows\u201d (Matthew 24:4-8), which will be followed by the \u201cgreat tribulation\u201d (Matthew 24:21)\u2013which while not here yet, will include a time of monitoring and control of buying and selling (Revelation 13:16-18).<\/p>\n

If the USA does decide to basically go cashless to default on its debts, this will not be without cost. Debt and other wrong policies will not end well for the USA (cf. Habakkuk 2:6-8; Daniel 11:39).<\/p>\n

Some items of possibly related interest may include:<\/em><\/p>\n

<\/em>Cashless society in 2016?<\/a> Is the world moving towards a cashless society? What are some of the advantages and some of the problems associated with a cashless society? Are there governments planning on implementing steps in 2016 that are encouraging a cashless society? Is the United Nations pushing for this? What about the Bilderberg Group? Are there steps in Europe, Africa, Asia, Australia, Latin America, and North America being taken to move towards cashlessness? Does the Bible tell of a European power that intends to control buying and selling? This is a video.
\nAmerica\u2019s Day of Reckoning 2017 Dollar Collapse?<\/a> Economist James Dale Davidson says that a financial bloodbath will hit the USA and there is nothing that Washington can do to stop it. He claims that at least 57 nations have gotten together to dethrone the US dollar as the world\u2019s reserve currency. He claims this can happen any day or in a few months. He mentions China, Russia, the AIIB, and gold. He claims his track record in predicting massive shifts in the past should assure people that he is right about this. He claims that there will be massive unemployment, near elimination of social security benefits, and more. In a post he sent me a link to July 13, 2016, James Dale Davidson wrote, \u201cDuring the next six months, you will see the stock market plummet by at least 50%, real estate will drop 40%, savings accounts will lose 30%, and unemployment will triple. It\u2019s already starting to unfold.\u201d Is James Dale Davidson possibly right on any of this? Dr. Thiel goes over many of his claims and explains what the Bible shows related to the coming collapse of the US dollar. This is a video.
\nEliminate the $100 bill?<\/a> Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
\nCollapse of the Euro and Dollar? War in 2020?<\/a> 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 \u2018granddaddy of all cycles\u201d? 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.
\nPreparing for the \u2018Short Work\u2019 and The Famine of the Word<\/a>
Project Prophecy: Economic Collapse Starting in 2015?<\/a> Jim Rickards once worked for the CIA and also was once part of a a USA government program called called \u2018Project Prophecy.\u2019 He has a video were he claims that starting in 2015, the USA may have economic collapse resulting in a 25-Year Great Depression. He mainly cites debt figures and claims advises alternatives to the USA dollar which he says will collapse? What did Rand Paul state? Can the USA dollar collapse? This is a video.
\nThe Plain Truth About Gold in Prophecy. How Should a Christian View Gold?<\/a> 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?
\nCan those in the USA\/UK see the Handwriting on the Wall<\/em>?<\/a> Is everything fine in the USA\/UK or is it like the days of Noah? Can we learn from the handwriting that appeared on a wall thousands of years ago? Here is a link to a related YouTube video Can you see the ‘Handwriting on the Wall’?<\/a>
\nWhen Will the Great Tribulation Begin? 2016, 2017, or 2018?<\/a> 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: \u00bfPuede comenzar la Gran Tribulaci\u00f3n en 2016 o 2017? \u00bfEs el Tiempo de los Gentiles?<\/a> You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives<\/a> and Can the Great Tribulation begin before 2020?<\/a> A shorter video is: Can the Great Tribulation Start in 2016?<\/a>
\nTwo Horned Beast of Revelation and 666<\/a> Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?<\/a>
\nThe Mark of Antichrist<\/a> 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’?<\/a>
\nMark of the Beast<\/a> 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’?<\/a>
\nEuropa, the Beast, and Revelation<\/a> 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?<\/a>
\nMust the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations?<\/a> 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<\/a>.
\nWorld War III: Steps in Progress<\/a> 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?<\/a>
\nDoes God Have a 6,000 Year Plan? What Year Does the 6,000 Years End?<\/a> 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? 2024 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?<\/a>
\nAnglo \u2013 America in Prophecy & the Lost Tribes of Israel<\/a> 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-Am\u00e9rica & las Tribus Perdidas de Israel<\/a>. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter?<\/a> and British are the Covenant People<\/a>. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse<\/a>.
\nThe Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church<\/a> 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.
\nDid The Early Church Teach Millenarianism?<\/a> 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? A related sermon is titled The Millennium.<\/a>
\nEuropa, the Beast, and Revelation<\/a> 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?<\/a>
\nEuropean Technology and the Beast of Revelation<\/a> 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<\/a>.
\nMust the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations?<\/a> 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<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

COGwriter Here are some comments\u00a0by Peter Diekmeyer related to book that came out recently titled The Curse of Cash: Ken Rogoff\u2019s Government Debt Default Plan Ken Rogoff is by all accounts a brilliant man. The Harvard professor and former IMF chief economist is a chess grandmaster. His thesis committee included current Fed vice-chair Stanley Fischer. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38553","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/38553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/comments?post=38553"}],"version-history":[{"count":4,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/38553\/revisions"}],"predecessor-version":[{"id":38555,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/38553\/revisions\/38555"}],"wp:attachment":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/media?parent=38553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/categories?post=38553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/tags?post=38553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}