We have written frequently on the topic of the Endtime Money Trap. A book entitled The Endtime Money Trap: How to live free was published on this topic in 2001. It documented the steadily accelerating trends toward financial controls, global financial interconnectedness and the financialization (money captivity) of an ever greater part of human activity. These trends indeed have continued to accelerate and remain a topic of interest at many levels.
A number of verses in the Bible point to the emergence of a potential “money trap.” Most specific is the following prophetic text: “[…] that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name?” (Revelation 13:17 KJV).
We note a number of new developments over recent years that could hasten the facilitation of just such an event as described. However, before pointing to these, it is worthwhile to first reflect on the implications of just such a prophecy. What does it mean that “no man might buy or sell”? It clearly means that NOBODY ANYWHERE will be able buy or sell ANYTHING unless they subordinate themselves to the “Beast and its image.” The question we wish to focus on is this: What systemic controls must be in place so that NO ONE on earth can either buy or sell without permission?
Essentially (and grossly simplified) for Revelation 13:17 to be fulfilled at least four things have to happen :
1. A globally integrated and closed financial system must exist. Necessary technologies must be in place. This means that not even a little bank in Tupelo, Mississippi or the Island of Tuvalu will be able to facilitate any type of transaction (whether buying food or selling a house) outside of this closed system.
2. A system of central banking must be endorsed everywhere and centrally coordinated. This must result in a commonly-shared monetary philosophy around the world, which, most importantly, achieves a strong influence over market and human behavior. In other words, the entire world must agree to play by the same rules and values, thereby obeying and following the actions of monetary officials (the modern money equivalent to suzerains).
3. The legal statutes and regulatory institutions that oversee financial activities of individual countries must be superseded by a centralized world-wide authority in order that unified actions can be enforced.
4. Finally, a unified global “political economy” must exist (either taking the form of a very small group of powerful countries or a single autocrat) that is powerful enough to enforce and authorize such controls upon the entire world at a given time.
How far along is the world with respect to the four steps mentioned? Steps #1 and #2 are well advanced. For all intents and purposes, we could say that they are already in place. Only the final two remain to be completed. In our view, global initiatives in this direction are already well in tow. However, further development in this direction is difficult. Why? Because individual countries must first give up a measure of sovereignty for these to occur. They will do so only very reluctantly. If this is the case, then how can these last steps ever fall in place?
As technocrats and political strategists well know, there is nothing as effective as crises and fear to unify political consensus or to compel change. In such desperate times people will be prone to strike deals that will hold them captive. An example of this tendency is shown in the Genesis account of the 7-year famine during the time of Joseph. In the later stages of the famine, people became so desperate they said: “[…] buy us and our land for bread, and we and our land will be servants unto Pharaoh.”
A major crisis occurred only recently — the Global Financial Crisis (GFC). It was most significant as it was a globally-interconnected and fiercely contagious financial disaster that elicited the greatest globally-coordinated response of all time. Almost instantly, the attention of the entire world was captured, triggering a global wave of fear and angst. The spectre of collapsing stock markets, banks and other financial institutions met a hurried and panicked response. The sheer financial immobilization of the crisis allowed regulators and policymakers to enforce measures that might otherwise have been considered illegal. Such is the effectiveness of crisis. It can galvanize responsive action. Invariably, the changes born of such crisis tend towards centralization, greater controls and, crucially, massive wealth transfers. A measure of all of these has played out in recent years.
Let’s return to our original inquiry. Just what significant new developments over recent years serve to hasten the future facilitation of the Revelation 13:17 money policy? We will mention three.
Firstly, in 2008, in response to the GFC, the Financial Stability Board (FSB) was formed by the G20 countries. It was established to coordinate internationally the work of national financial authorities and international standard-setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies.
As such, it brings together national authorities responsible for financial stability in significant international financial centres, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. As can be concluded from this description, it is yet one more transnational organization that is seeking to promote an internationally-connected and regulated financial system.
Most interesting is that the FSB has determined that some financial institutions around the globe are systemically important banks (G-SIB). It has identified 28 such G-SIBs, these being the biggest, most internationally-connected banks. What are the implications of this initiative? To our thinking, while these banks will be carefully monitored at the international level, they therefore will likely also be favored and protected during any future financial crisis. With this protected status, it would not be surprising if the entire world banking system were eventually centralized into a few institutions. That would certainly facilitate the ability to control all financial flows.
A second significant development in the effort to harmonize banks around the globe is the activity of the Bank of International Settlements (BIS) based in Basel, Switzerland. Its purpose is to foster international cooperation and to act as a bank for central banks. Sixty such central banks are members of this organization today and its board of directors includes members from China to Canada.
A major endeavor of the BIS is the monumental Basel III program. This initiative was also taken expressly in response to the financial instabilities of the GFC. The new Basel III operating standards are now foreseen to be in effect by 2018. Crucially, the BIS continues to successfully build a common and unified foundation for global financial institutions and their central banks. This serves to organize common operating procedures and philosophies of global financial systems around the globe.
Finally, we will mention one other critical development in central banking. This involves the adoption of unorthodox monetary tools by central banks that by any fair standard would be considered immoral. These methods are considered necessary in response to the economic fall-out of the GFC. Central banks are desperately hopeful that such actions will restore prosperity. We would not be surprised to see aggressive implementation of such ideas as “money finance” and Outright Permanent Money Finance (OPMF) in the future. These policies will cause massive and unjust wealth transfers and an even greater stratification of wealth than already exists. All of this breeds the type of instabilities and problems that will require even greater financial controls in the future.
In our view, the three developments we have briefly outlined could well pave the road to the ultimate advent of the final money trap. Just when can we expect the next crisis that will drive the “money trap” to its final snap? According to our understanding of Scripture, the final one will occur in the second half of the Tribulation. This crisis could very well be the next one. Maranatha.