Modern Monetary Theory

During the past several years, the Federal Reserve has been managing our growing national debt by using a series of financial terms. The shell game started with the Fed taking on the role of our rich uncle and did Quantitative Easing. The Fed reinflated the stock market by loaning the Treasury $3.5 trillion.

Then came Operation Twist in 2011 where the Fed sold short-term Treasury securities and bought long-term Treasuries. By selling a two-year bond and buying a 30-year bond, the Fed was giving Washington 28 years to balance its financial books.

Next came Quantitative Tightening where the Fed would sell off the bond it had on its balance sheet. When Wall Street had a negative reaction to the actual unloading of bonds, the Fed said our credit is so good, it would end the program and hold onto the bonds forever.

The new term that is becoming popular in Washington is Modern Monetary Theory. The core teaching of MMT is that a nation with the ability to print its own money can never go bankrupt. It can always fund its spending by printing more money. The nation’s deficit can be managed by simply printing money to pay for the shortfall.

MMT can trace its origins back over 100 years, but it has gained renewed popularity in recent months thanks to freshman Democratic Congresswoman Alexandria Ocasio-Cortez and economist Stephanie Kelton. When people add the cost of her proposed Green New Deal to an insane $22 trillion-dollar national debt, AOC said we can use MMT to pay for her program.

Some would argue that the Federal Reserve would never fall for MMT, but former head Ben Bernanke has already laid out the framework for how MMT could work. Bernanke traveled to Tokyo in July 2016 and suggested a way to stimulate the Japanese economy. He said the Ministry of Finance, Japan’s equivalent to our Treasury, should issue non-marketable perpetual bonds with a zero-coupon that the Bank of Japan would buy with printed money. The Japanese government could then use the money from these bond sales to pay its bills.

A perpetual zero-coupon bond means the principal never has to be repaid, and no interest payment is ever due. Bernanke was basically suggesting the issuance of a new form of currency. Cash never matures, and you do not have to pay interest for holding it. He should have just said that Japan should print vast amounts of yen.

Abraham Lincoln once posed the question: “If you call a dog’s tail a leg, how many legs does it have?” and then answered his own query: “Four, because calling a tail a leg doesn’t make it one.” Abe would have felt lonely on Wall Street. MMT is simply the printing of money for the purposes of funding government spending. It has been tried hundreds of times and has always led to massive inflation.

The Treasury Department is currently using “extraordinary measures” to prevent the US from breaching the debt ceiling. As of the 9th of March, the US officially hit the debt ceiling, capping the national debt at just over $22 trillion. The Treasury can fund the government until late September or early October by using an array of bookkeeping tricks.

The US is not the only nation that is allying MMT to its government spending. Last month, China unleashed a massive credit expansion. In what was dubbed the Shanghai Accord 2.0, the People’s Bank of China announced it had flooded the economy with a gargantuan 4.64 trillion yuan in various new forms of debt. Injecting nearly $700 billion in credit in one month was more than the GDP of Saudi Arabia. In the past 40 years, Beijing has increased the money supply by an amazing 10,000-fold.

Since assuming the premiership in 2013, President Xi Jinping has been a consistent critic of the large-scale stimulus that their predecessors launched in response to the 2008 financial crisis. It is dumbfounding to traders that Xi complains about the dangerous increase in debt by others, and then does the same thing himself.

In a normal world, any attempt to implement MMT would mean instant financial disaster. The same basic financial rule has worked for thousands of years. If you print too much of your own currency, its value will collapse.

The ability of the world’s central banks to throw all cares to the wind is not the result of some new economic miracle. I am convinced that the rapture is the reason why such reckless spending is going unpunished. Everything is to remain calm right up to the moment the Church is removed. To reach the irrational level of MMT spending, it tells us that the end must be very near.

“Therefore be ye also ready: for in such an hour as ye think not the Son of man cometh” (Mat. 24:44).

–Todd

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Third Temple and Trump

For as the rain and the snow come down from heaven, And do not return there without watering the earth And making it bear and sprout, And furnishing seed to the sower and bread to the eater; So will My word be which goes forth from My mouth; It will not return to Me empty, Without accomplishing what I desire, And without succeeding in the matter for which I sent it. (Isaiah 50:10-11) 

God has spoken the precise consummation of history. His Word about these matters will come to pass. The world’s global elite might not like it; the diplomats of the world might resent it. God’s word about the wind-up of history, however, cannot–will not–be changed.

In filming documentaries on prophecy, whether it’s about Bible prophecy, or prophecy by the Nostradamuses of their times throughout history, the documentarians make sure a certain statement is made in summation: “These prophecies are given as a warning. They are given so we can alter things we as human beings do in order that these terrible things not come to pass. Man can change the outcome if he only strives to do so.”

The Lord of all Creation says: “So will My word be which goes forth from My mouth; It will not return to Me empty, Without accomplishing what I desire, And without succeeding in the matter for which I sent it.” His Word says further: “yea, let God be true, but every man a liar” (Romans 3:4).

God’s prophetic Word will come to pass–100 percent, even if it comes to pass in ways and through people, places, and things we don’t necessarily foresee or understand.

Developments of a profound nature seem in the making. some who observe things going on behind the scenes in Israel believe those developments are farther along than might be suspected by those of us who are most diligent in observing and reporting on the prophetic weather. I must admit that I don’t particularly like the way things are shaping–that is, I don’t like to have dissolved my neat, little order of how I perceive prophecy unfolding.

The Lord doesn’t always proceed in neat, little ways in order to get things done. Looks like I would have figured that out in 76-plus years of living. He, as often as not, uses the good, bad, and the ugly to work in fulfilling His ultimate will.

While not a sure thing, it looks to some as if He might be allowing the unfolding of a couple of prophecies, using all three ingredients to bring about stage-setting for the Tribulation and Armageddon.

Movement toward the building of the Third Temple in Jerusalem is almost certainly and swiftly racing forward. My friend, Tom Horn, CEO of SkyWatch TV is, in my estimation, among those leading in the examination of developments in Jerusalem concerning building of the Third Temple. Recent developments indicate just how near the Tribulation era might be, based upon apparent Temple planning.

Horn states on his ministry website that developments in the plans for the Third Temple “are, in fact, earth-shattering, and will accomplish nothing less than altering the course of history. What is about to unfold could set in motion arrival of Antichrist and Armageddon, followed by the Second Coming of Jesus Christ.”

Regarding intrigues in Temple planning, he writes further, “It’s happening right now behind the scenes in clandestine negotiations between global powers and religious leaders.” Horn and others observe that some of the Jewish clerical hierarchy are convinced that American President Donald Trump equates to the reincarnation of a Cyrus-like figure. Cyrus was a king whom some rabbis believe the God of Israel raised up to initiate the Messianic era and construction of the Third Temple.

On a more cautious note, I’ll report that Tom Horn offers that Saudi Arabia, Jewish religious leaders, and Donald Trump are negotiating behind the scenes to transfer control of Israel’s holy sites—including the Temple Mount—to the Saudis, to complete a “peace covenant” that could result in, among other things, the building of the Third Temple. This unverifiable conjecture–as I view it at this point–has yet to be seen, but it is worthy of consideration because of other developments of significance.

A Jerusalem Post article reports the following:

A senior reporter for the Al Riyadh, one of Saudi Arabia’s most prominent newspapers, claimed that the US President Donald Trump’s “Deal of the Century” will divide Jerusalem.

The reporter Hadeel Oueis wrote on her twitter account that “The Old City of Jerusalem will be divided in half: the Arab and Christian quarters will go to the PA [Palestinian Authority], while the Jewish and Armenian quarters will fall under Israeli control.”…

Oueis further tweeted that “Arab areas adjacent to Palestinian Area A and B will go to a future Palestinian capital in East Jerusalem.”

Saudi Arabia has been in touch with the US administration regarding the peace initiative, as it was rumored that the deal will include recognition of Israel by surrounding Arab countries. (“The U.S. Peace Plan Will Divide Jerusalem,” Hadeel Oueis [@hadeelOueiss] March 5, 2019])

It is quite disconcerting to yours truly that this president could be complicit in developing plans that God’s Word says will leave to His bringing all nations into the Valley of Jehosephat and the killing fields of Armageddon. However, the Lord’s prophetic Word will be accomplished, regardless of the people, places, and things involved in its fulfillment.

You and I need not be a part of that history-ending conflict and all the carnage leading up to that bloodiest of all wars. Simply and genuinely believe that Jesus Christ died to redeem you from the dread sway of sin. Then confess with your mouth that God has raised Him from death, and you will be saved. You will go to be with Christ instantaneously when your heart beats its last beat, or at that glorious moment of Rapture when the living and dead are called into His presence forever.

–Terry

Unabashed Anti-Semitism

The phrase “Never again” has long been linked to the aftermath of the Holocaust. The first usage of Never Again is murky, but most likely began in postwar Israel. The phrase was used in secular kibbutzim there in the late 1940s; it was used in a Swedish documentary on the Holocaust in 1961.

The “never again” cry is one that could have been declared several times in history. There have been at least 20 occasions when some power has decided to wipe out the Jewish race. When the Spanish Inquisition chased them out of Spain and Portugal, the Sultan of Turkey issued a formal invitation to Jews, and they started arriving in the empire in great numbers. He couldn’t believe that the Catholic church was driving out doctors, lawyers, and men of good business skills.

In the Western world, the lessons of the Holocaust have for decades maintained a no-tolerance policy against any form of anti-Semitism. I remember when anyone who dared to downsize the horrors of World War II would be in immediate trouble. Even the liberal press would get on their case. In many countries, it was illegal to own a copy of Hitler’s Mein Kampf.

In the past few years, there has been a rapid erosion of the “never again” pledge. Then-President Barack Obama used the phrase in a universal sense in marking International Holocaust Remembrance Day in 2011. In Parkland it was used as a call for gun control. In other ways, it’s been a call for anti-militancy.

We have quickly reached the point where it is possible for people who are openly anti-Semitic to have a foothold in society. Most of these people are members of the Islamic faith. In Europe, there are continuous anti-Semitic hate crimes committed by Muslims, and they go unpunished because the citizens of Europe are too timid in dealing with the massive problem.

Last year, Robert D. Bowers shot and killed 11 people at the Tree of Life synagogue in Pittsburgh, the deadliest attack on the Jewish community in the United States. Bowers had no previous criminal history. His evil act just came out of nowhere.

The recent election of Minnesota Democratic Rep. Ilhan Omar is very troubling because she is clearly a person with deep-seated anti-Semitic views. Since she has been in office, her fixation has been on making racist remarks again Jews. When one mistake turns into six anti-Semitic remarks, you have someone who has proven herself as a Jew hater.

Omar was appearing at a forum in Washington, and she claimed everything she says about Israel is construed as anti-Semitic because she’s Muslim. Omar is a racist because she says racist things about Jews, which she did at the forum. Omar revived an old trope about divided loyalties among Jewish-Americans when she criticized the idea that it’s “OK for people to push for allegiance to a foreign country.”

Omar repeated her remorse for the pain that her previous comments have caused. This is a standard excuse used by racists. They regret the pain caused by their words, but not the words themselves.

The House Democrats had planned to vote on a resolution to formally condemn recent anti-Semitic statements by Omar, but it was shelved after several progressive groups and lawmakers came to Omar’s defense. What finally passed was a motion to condemn all forms of prejudice. Since Omar thinks that she is being singled out because of her Islamic faith, she will see no rebuke in this pointless resolution.

Noura Erakat, a leftist assistant professor at George Mason University, came to Omar’s defense with the insane logic that permeates the Democratic Party. She said, in addition to being a visible, black, Muslim woman who is also a refugee, it becomes too easy for Omar’s attackers to lean into racist, Islamophobic attacks to silence her.

There is a meme poster that has sparked controversy on social media. It consists of two photos. The upper photo was a picture of the World Trade Center towers during the 9/11 attack. A caption read, “‘NEVER FORGET’ – YOU SAID…”  Below it was a photo of Omar wearing a hijab. That picture’s caption said, “I AM PROOF – YOU HAVE FORGOTTEN.”

I think the creator of the poster makes a fair point. Omar has proven herself to be a friend of terrorists. I think the people of her district have lost their minds to have this dingbat represent them.

To have a freshman congresswoman able to be an Unabashed anti-Semitic will open the floodgates of anti-Jewish hate. Many years ago, I realized that Bible prophecy seemed to indicate that America would likely become hostile to people of the Jewish race. Just as quickly as the tide has changed in Europe, the day may soon come when American Jews would feel safer in Israel.

“For I will take you from among the nations, gather you out of all countries, and bring you into your own land” (Ezek. 36:24).

“I will bring back the captives of My people Israel; they shall build the waste cities and inhabit them; they shall plant vineyards and drink wine from them… I will plant them in their land, and no longer shall they be pulled up from the land I have given them” (Amos 9:14-15).

–Todd

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Tearing Down the Walls

I preface this commentary with an acknowledgement that rumors have it that the Trump administration might insist that Israel tear down some of its walls that separate that tiny nation from its blood-vowed enemies–thus to put together “the deal of the century.”

This, of course, brings to mind the prophet Ezekiel’s foretelling that Israel will be a ”land of unwalled villages” at the time of the Gog-Magog attack. We will address that at another time, if true that this administration will make that wall removal part of “the deal. And I assure the assessment here, if this turns out to be fact, will not be gentle.

Most people as young as 20, and certainly those of us of sufficient age in the late 1980s, know the source of the phrase. President Ronald Reagan demanded, while standing at the Berlin Wall in Germany: “Mr. Gorbachev, tear down this wall!”

The reference, of course, was to that hideous, concrete and iron edifice that scarred the middle of Berlin, separating the western part of the city from the east.

The purpose of the Berlin Wall was not to keep people out of Soviet-dominated East Berlin. It was to keep east Berliners from escaping from the dehumanizing, communist regime that was the puppet of Soviet dictator Mikhail Gorbachev’s Soviet Union.

U.S. President John F. Kennedy had in 1961 stood near the same spot as Reagan and pointed for all the world to see and hear the evil represented by the wall. President Kennedy  said to anyone who wanted to see the difference between the free world and the iron curtain regimes: “Let them come to Berlin!”

Today we are inundated every day by mainstream news reports that try to equate that enslaving wall those decades ago to the wall or barrier on the southern U.S. border that President Donald J. Trump is determined to build.

That wall, of course, is to keep invaders from coming into America, not to keep the American people from leaving this nation. And, make no mistake, those who want to enter America illegally are invaders, not innocent people just seeking a better life.

It is true that many among the invaders are innocent in age and motive. These are unwitting tools of those who profit from the invasion.

The evil, criminal forces that are expert at piercing security at the borders profit monetarily. Those among the deep state and “progressive” political elements within the U.S. are intent on gaining greatly and permanently from the invasion. They want the wall torn down where it exists and kept from construction in areas Mr. Trump is determined to fortify against invasion. These political entities–both in government and in media–want as many illegals as possible to keep pouring into the country in order to procure a permanent underclass that will be forever beholden to them. They want voters who will keep them in power in perpetuity.

And this brings us to the crux of the subject of “walls” I wish to address. The tearing down of walls is one of the most relevant of all of the end-times signs.

Worldwide, those of the “progressive” mindset–the deep-state types, if you will–are determined to tear down, on a global scale, all walls that separate humanity. They want all borders erased. They want a return to Babel like times reported in Genesis chapter 11, so that, as Vladimir Lenin dreamed and John Lennon wrote and sang, all the world will be as one.

They are striving mightily to achieve this worldwide condition. The election of Donald Trump to the presidency dramatically disrupted their plans. They are in an absolute rage because of the disruption. It is destined to grow much more intense in every respect.

Satan wants a global platform from which to launch his man of sin–Antichrist. And, there is no doubt about it. According to Bible prophecy, this will be accomplished. The world will pay a horrendous price for welcoming such a tearing down of borders–the walls of separation between nations- that the Lord of Heaven commanded, following Nimrod’s one-world attempt on the plains of Shinar.

The effort is right in our faces, although much of America hasn’t been given much information about the attempt to set up this neo-Tower of Babel. The American and international news media have done their best to not alarm the American public with their plans to control every aspect of life in their planning for their new world order.

We haven’t heard much about the World Government Summit, except in places like Rapture Ready columns by writer/observers like my great friend and authority on global, end-times issues, Daymond Duck.

Here’s a brief summary of what has just taken place in regard to the World Government Summit.

Top globalists are coming out of the closet. Thousands of leading globalists, communists, Islamists and others from around the world converged on the Arabian Peninsula this month for the World Government Summit. Their goal: promote technocratic globalism and plot the future of what they often call their “New World Order.” Senior officials from the United Nations, the World Bank, the International Monetary Fund, the European Union, Communist China, central banks, and even the Trump administration showed up to mingle with heads of state and advocates of Islamic Sharia law from across the region. Even Pope Francis delivered a message. As usual, despite top U.S. media outlets partnering with the summit, the establishment press in the United States largely failed to inform Americans about it. (“World Government Summit,” Globalists Push UN Agenda 2030, by Alex Newman, taken from news source posted on SkyWatch TV website)

So-called Christendom, represented by Catholic Pope Francis, has signed on, joining with representatives of Islam and many other religionists, invoking the name of God to give His blessings. We can only surmise, with great trepidation, who this god is whose blessings they seek.

These are UN goals according to examination of the World Government Summit by the writer of the report: national and global wealth redistribution, government control over the economy, globalist indoctrination of all children, surrendering more sovereignty to global institutions, and much more. They are essentially a “master plan for humanity,” as UN bosses put it, to build a global technocratic government that would dominate every facet of human existence.

So, while tearing down the walls of borders that God deemed to be erected following Babel, these minions of the evil one are constructing walls even more dehumanizing, more enslaving than that wall that separated west from east Berlin. It will be the devil’s wall–the wall separating lost mankind from their Creator Redeemer–that will bring about the most terrible era of human history, according to Jesus (Matthew 24: 21).

But the Christian of this age–the Church Age–need not fear what is coming from this evil, supernatural, wall construction. The believer in Jesus Christ for salvation, according to Romans 10:9-10, will go to be with Christ when He calls (Revelation 4:1).

The Rapture will take God’s children out of harm’s way, where they will live gloriously in His magnificent presence for all of eternity.

–Terry