The Sovereign Debt Crisis and Global Financial Control

This begins the first in a series of discussions on trends which align with biblical prophecy and sign of the times.

Today, the Vatican called for Global oversight of the world's finances reiterating the
" proposed establishment of a supranational authority to oversee the global economy."

The New York Time reports "The language in the document, which the Vatican refers to as a note, is distinctively strong. “We should not be afraid to propose new ideas, even if they might destabilize pre-existing balances of power that prevail over the weakest,” the document states. "

With the worsening global debt crisis, and the problems seen in Greece and Europe this year, and the our own countries $14 trillion+ dollar debt bubble set to severely destabilize world finances, the Vatican joins many others calling for Global Financial control.

In March of this year a panel of U.N. economist called for A new Global Reserve System stating, "the need to "lay the basis for the long-run reforms that will be necessary if we are to have a more stable and more prosperous global economy and avoid future global crises." "

In July, MarketWatch.com asked, "What will replace the dollar as global currency?" One person commenting on the article wrote, "They're running a special down at "Marko DeBeast." "

Over the last year I have read several articles, this next one being the most recent chronicling China's call for a new global currency.

On Aug. 9th of this year the New American posted a piece titled "China Calls for Global “Supervision” of Dollar, New World Currency." The Chinese said “International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country,” the regime said. “All Americans, both beltway politicians and those on Main Street, have to do some serious soul-searching to bring their country back from a potential financial abyss.”

The world is in a Sovereign Debt Crisis. A Sovereign Debt Crisis is defined in the following manner: A sovereign default is a failure by the government of a sovereign state to pay back its debt in full.

A great many of the the nation's of the world are in such a state and many economist are warning that a complete collapse is inevitable.

In a piece titled "The Sovereign Debt Crisis Is Never Going To End Until There Is A Major Global Financial Collapse."

The author gives a simple explanation of the debt crisis in Greece, Portugal, the EU an Japan, describing the debt burdens these nation are under, how they are connected, and why their collapses are imminent. He then goes on to talk about the 800lb gorilla in the room. The U.S..

He writes, "

Of course the biggest pile of debt sitting out there is the national debt of the United States. The U.S. is so enslaved to debt that there is literally no way out under the current system. To say that America is in big trouble would be a massive understatement.

In fact, the whole world is headed for trouble.

Right now government debt around the globe continues to soar at an exponential pace. At some point a wall is going to be hit.

The Wall Street Journal recently quoted Professor Carmen Reinhart as saying the following about what we are facing....

"These processes are not linear," warns Prof. Reinhart. "You can increase debt for a while and nothing happens. Then you hit the wall, and—bang!—what seem to be minor shocks that the markets would shrug off in other circumstances suddenly become big."

That is the nature of debt bubbles - they keep expanding and expanding until the day that they inevitably burst.

Governments around the world will issue somewhere in the neighborhood of 5 trillion dollars more debt this year alone. Debt to GDP ratios all over the globe continue to rise at a frightening pace.

Because the world is so interconnected today, the collapse of even one nation will devastate banks all over the planet. If even one domino is toppled there is no telling where things may end.

The combination of huge amounts of debt and huge amounts of leverage is incredibly toxic, and that is what we have all over the globe today. Almost every major nation is drowning in a sea of red ink and almost all of our major financial institutions are leveraged to the hilt.

There is only one way that the sovereign debt crisis can end.

Very, very badly.

I hope you are ready for what is coming."

I think we all instinctively know this, none of could get away with running our own finances like the governments of the world have. Unless we could print our own money like they do. Funny, they call it counterfeiting when we do it, but is what they're doing any different?

So what does any of this have to do with the "End Times" and bible prophecy? Let me direct you to a scripture that will be familiar to many of you.

Rev 13:16-17 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.

Obviously this passage is talking about the Antichrist, the beast, the man of lawlessness, the son of perdition. I will not be attempting to identify him, only to point out trends that are coming together to make it possible for this passage to become a reality.

First let me set the context, this event occurs somewhere in the middle of the tribulation, around the 3.5 yr point.

Secondly, this passage foretells of a time when one person could force all the world to obey his laws.

Thirdly, it speaks of a time when one person could control the commerce of all the world's population.

The brings up some obvious questions:

1. Have these conditions ever existed in the past?
2. Do the conditions exist now?
3. What would be required for these conditions to exist?

I think it's clear that the conditions to affect world wide commerce to this level have never existed in history and do not exist currently today. If this is the case then what conditions would need to be in place to allow prophesy to be fulfilled?

We all have probably heard about bar codes and RFID implants, cashless societies and global governance. Bible scholars and prophecy buffs have pointed to all of these as possible ways that this could be fulfilled.

I have believed for a long time that if we are in the "Last Days" we should see the coming together of conditions that would make what has been prophesied possible.

Somehow, Satan must take the world as it is now and has been since Christ's resurrection and move it to the place where what is stated in the passage is possible.

Is it possible that the current push for global governance (a topic for another article), the current financial crises and call for global currency are setting the stage for the kingdom of the beast?

Let me paint if I may, a scenario that could play out in the not to distant future.

The rioting in cities throughout the EU enter their third month as the fallout from the collapse of the Euro brought on by Greece and Portugal's default. No longer able to restructure their debt and secure loans from other EU member nations unwilling to continue to toxify their own economy with these nations debt, had no choice but to default sending global markets spiraling down. This was the straw that broke the camel's proverbial back as China and other holders of U.S. Treasury notes began to dump them wholesale, certain that the U.S. will no longer be able to borrow or print enough money to service it's $21 trillion+ growing debt balloon. The dollar and Euro are both in free fall and global hyper inflation ensues causing prices everywhere to skyrocket. (Rev.6:6)
The International Monetary Fund is empowered by the EU and the U.S. to enforce austerity measures in both nations, beginning by freezing wages and prices, deeply slashing welfare and defense spending and steeply increasing taxes. The people unused to such privation begin rioting in American cities. U.S. troops, many recently withdrawn from Iraq police the streets of U.S. cities.

Unable to bring the world's economies under control after enacting harsh austerity measures the IMF realizes that a global market reset is the only real option left to stop the downward spiral. A plan, postulated by a relatively unknown IMF economist proposes an idea from his peoples history, A year of debt forgiveness. His idea is to wipe away all nations debts, divide global wealth equally to the nations of the world, dissuade crime by making a transactions cashless and giving people in every nation a portion of the worlds wealth deposited in a World bank. Access to the funds would available globally via the use of a high tech digital signature unique to each individual, Where the technology is not available access would be given by a personal pin.


Hey, I'm no novelist, but you get the idea. It would not take much to "upset the apple cart" in a major way and have people willing to accept anything for relief.

Here is an over used quote but one I believe is more true today than when it was originally spoken.

“What we want is a man of sufficient stature to hold the alliances of all people and to lift us out of the economic morass into which we are sinking. Send us such a man, and be he god or devil, we will receive him.”

Henri Spaak circa 1957-1960 Secretary General of NATO

Additional reading: http://www.singleglobalcurrency.org/