No doubt, everybody would agree: Unprecedented times are upon the world. So many trends appear to be moving on fast-forward—geopolitical shifts, uprisings, rumors of war, the rise of extremist demagogues and policymakers; and, not to be forgotten, perverse monetary trends.
To no surprise, therefore, we receive many concerned questions about the puzzling monetary and financial environment being experienced worldwide. The general public is asking, “What is really going on?” Just which information sources can be relied upon?
Christians are also wondering whether current monetary developments have any prophetic implications. Are these signs of the endtimes? Some connect the fall of Babylon the Great—that great idolatrous, commercial colossus depicted in Revelation 18. And, relatedly therefore, what will the financial environment be like in the Tribulation, and its alignment with Babylon, if any?
These last two questions will surely seem without practical benefit to Christians who are anticipating the Rapture. If we are to be “snatched away,” why be concerned about what will occur in that terrible Tribulation period? It is an important question. Indeed, we need not take part in any speculations that are of little relevance to us. However, there is a connection here that should not be discarded lightly.
Some of the events that take place in the Tribulation period are “enabled” by the preparatory developments that take place before the Tribulation begins … i.e. visible in our time today … and perhaps earlier. For example, consider the actions shown in Revelation 13:17. Here it is mentioned that the 2nd beast (verse 11, sometimes also referred to as the False Prophet) has the ability to control all financial and economic transactions upon earth. How could this be possible if the technology and systems needed to do so, did not already exist?
Therefore, a sudden development of such a capability would indeed be “prophetically” significant. What seemed impossible to become fulfilled prophecy even 50 to 75 years ago, is technically possibility today! (Only multilateral political and sovereignty issues stand in the way.)
Biblical knowledge of the Book of Revelation and the post-Rapture environment is not without benefit. In this three-part series, we shall delve into all of the above-mentioned questions.
Unprecedented Money Events Occurring Today
Why are there great monetary worries today? There are at least two sets of reasons: One is comprised of populist reactions to the Great Financial Crisis (which continues today under changing guises), and the more recent emergence of “negative” interest rates.
Many are concerned today about ultra-low interest rates (at 5,000-year lows in some countries) and the seemingly reckless monetary policies of the world’s major central banks. Many countries have negative interest rates … yes, the investor will in this case be paying for the privilege of holding government bonds or depositing their savings in the bank. Indeed, the actions of the world’s major central banks are shocking.
Why? Because these interventionist policies create inequitable distortions and unwise incentives in the financial and economic system. Consider that one of its major distortions is to imbalance the wealth distribution. For example, effectively, wealth is being stolen from the elderly who are reliant upon financial income.
The second set concerns the causal reasons that are behind the financial decay (corrosion) of human wealth that is being observed today. Just why are the world’s central banks resorting to such unconventional policies today?
We observe that a global monetary experiment is underway as none ever before in human history. It is true that many of its features have occurred before in the timeline of mankind. In this sense, we agree with the Ecclesiastes writer, who said, “What has been will be again, what has been done will be done again; there is nothing new under the sun” (Ecclesiastes 1:9).
Yet, what is different today is that this “monetary experiment” is being experienced globally and systematically … and not just locally. Monetary policymakers around the world have all adopted the same policy “incantations” and “magical thinking” techniques.
This global “conversion” to the prosperity alchemy of monetarism has unfolded rapidly and relatively recently, as seen in the context of the human timeline upon earth. In less than half a century, common ideologies have been adopted, spanning from monetary and economic theories to central banking and fractional reserve banking systems; to the worldwide economic capture through “national accounting.”
Some of these terms may not be familiar to readers. Suffice it to say that, collectively, these developments are all an outgrowth of the worldwide proliferation of humanism and materialism.
In that sense, we would say that the concept of central banking is an emblem of the humanistic times. In fact, we would even venture to say that it is a sign of the endtimes. While it has been true that corruption and manipulation have plagued all of mankind’s history, what differentiates our day is the rapid and worldwide adoption of interlinked central banking systems … and the timing of their emergence.
This globally-intertwined, central banking system that we observe today has come about in less than one century or so. This is astounding. Why did this not occur earlier … why now at this time? As we have already shown, such a development must be considered “prophetically significant.” Therefore, its timing is also significant.
The collective actions of central banks around the globe betray incredible presumption and foolishness. To understand why, one must grasp the utter arrogance and blindness reflected by the policies of these leaders and their sovereign sponsors.
These leaders are part of the collective human leadership that is part of the historical Man-Satan Collusion; this being depicted in the Bible as the 7-headed beast (MCM 3-part series entitled “The Last-Day Global Power Coalition,” October to December 2006).
The absence of the “fear of God” in their policies aptly fits the description by King David found in Psalm 36:1-2, “I have a message from God in my heart concerning the sinfulness of the wicked: There is no fear of God before their eyes. In their own eyes they flatter themselves too much to detect or hate their sin.”
Consider these implied viewpoints of today’s elite leaders, policymakers, and those that idolize them:
· That real wealth can be created by sleight of hand. By tinkering with interest rates, prosperity can be created ex nihilo.
· That central banks can overcome the market-depressing impact of almost any social and economic problem.
· That there is no reason why the world will reap what it sows. Prosperity is alone determined by the “magic thinking” of humanity.
· That the creation of money out of thin air can be done with impunity and without consequence.
According to the Bible, the manipulative actions of central banks that we observe today are immoral. God many times warns of how much He hates “dishonest scales” (i.e. Ezekiel 45:10). The lack of the sense that acknowledges that God is not mocked and that all are sure to reap what is sown (Galatians 6:7-9) is chilling.
Helicopter Money: Money Ex Nihilo
Many readers will have recently encountered this term—Helicopter Money (HM). It is the latest nickname for a potentially explosive type of monetary alchemy. (It has also been named “money-finance,” Overt Permanent Money Finance or People’s Quantitative Easing.) The term “Helicopter Money” is more readily visualized. The basic idea is to effectively create lots of money (without needing to repay debts) and spread it around so that people and governments will spend it as if it would be “found money” that has been dumped by a helicopter from the air.
We need not review the technical details behind these contemplated policies. Frankly, it is nothing more than “magical thinking.” Suffice it to say that the net result is that money is created without being offset by new savings or the need to pay back debt in the future. The most shocking aspect of all concerning Helicopter Money is that many academic economists actually believe it will be without negative consequence.
Ultimately, these types of policies will trigger great social strife, as well as a further collapse in moral restraints. When honesty and stewardship are no longer regarded and honored, it can affect all aspects of life. Historians who have studied the monetary mismanagement of the Weimar Republic in 1930s Germany, observed that linkage. For example, pregnancies of unwed mothers increased sharply.
If central banks are creating unlimited money, it would be foolish to exchange an asset of limited and finite supply (i.e. gold or petroleum, for example) for a currency that has declining value and infinite supply. It is therefore likely that prices for “real” goods such as commodities, gold, real estate and alternative income sources will soar once the general populace discovers the deceits that are being perpetrated upon them.
Notably, a similar situation appears to be described in Revelation 6:6. One of the four living creatures says: “[…] Two pounds of wheat for a day’s wages, and six pounds of barley for a day’s wages, and do not damage the oil and the wine!” This occurs after the 3rd seal. At that time, the 3rd rider upon a black horse with a pair of scales is released. The black color of the horse and the pair of scales denote that a difficult economic time occurs upon earth. We see here that the prices of basic staples such as barley and wheat become unaffordable. The luxury goods of wine and oil are so expensive one dares not even touch them.
This same situation is certainly not being fulfilled today. The Tribulation period is yet future. However, we are certainly observing policies that could very well lead the entire globe to experience similar conditions.
Prognosis for Helicopter Money
Just how likely are new HM-type policies to be introduced around the world in the future? Actually, HM-type policies have already been introduced. They are already in force in some parts of the world. Looking ahead, we would judge that such policies will be vastly expanded … carrying on for years, perhaps decades. Why?
There are two main reasons. To begin, humanity has chosen unbiblical values, instead pursuing indulgence and its lusts. Of many symptoms, anti-familialism (the decline and repudiation of family formation and child-rearing) in particular is the most destructive. It is having a restraining effect upon economies, with much more to come. Anti-familialism will not reverse any time soon. If anything, the various forces undermining family formation will greatly worsen. A godless society will not repent, choosing instead to keep their tottering idols.
The second reason is that God has designed Creation with His foreknowledge. He created both the possibilities and the limitations of the physical world. There are limits to technology and productivity. The growth in prosperity and wealth that was achieved in the recent century cannot be assumed to continue forever.
The renowned economist, Robert J. Gordon, illustrates in his recent book (The Rise and Fall of American Growth1) the remarkable advances of the period between 1870 and 1970. He concludes that the great technological gains which contributed to an enormous increase in living standards over that historical period are not repeatable.
If Dr. Gordon’s predictions are correct and anti-familialism continues unabated, global economic systems will continue to decay and buckle as economic growth declines … and, eventually, reverse course. Such conditions will force policymakers to even greater levels of desperation and alchemy, embracing ever more manipulative responses and magical thinking. It would not be overly speculative to conclude that the economic and monetary trends that we are observing in our day are indeed in alignment with endtime prophecies.
(In Parts II and III we will present additional prophetic connections to our day, as well as comment on the likely time of the fall of Babylon the Great.)
1 Robert J. Gordon, The Rise and Fall of American Growth: The US Standard of Living Since the Civil War, Princeton University Press, 2016.