Financial Markets Rigged?|
You don't think the financial markets are rigged? Check this out…
"IMF TO URGE FURTHER DEPREICATION IN DOLLAR-PAPER
Sat. March 24, 2007, 8:42am ET
BERLIN, March 24 (Reuters) - The International Monetary Fund will say further depreciation by the U.S. dollar is needed to help correct global imbalances in its latest World Economic Outlook (WEO), Germany's Sueddeutsche Zeitung said on Saturday.
Quoting from a draft of the WEO, the paper said the Washington-based fund argued "extraordinarily aggressively" for a correction in exchange rates, above all so as to reduce the massive U.S. current account deficit.
The dollar, which slid to a 2-year low against the euro last week, should continue to depreciate in the mid-term, while the yen, the Chinese yuan and currencies of oil-exporting countries in the Middle East should all appreciate, the draft WEO said.
The WEO, which is due to be published in mid-April, will add that there is no great need for further interest rate increases by the European Central Bank, according to the paper.
Thanks to solid growth in the 13-nation euro zone, the ECB would not create problems by raising its main lending rate to about 4.0 percent from 3.75 percent at present, the IMF said."
Message for America
What does this mean to Americans?
Clothing, Shoes&Foreign Goods
It means that your Wal-Mart purchases of clothing, shoes, and other foreign made goods will substantially rise in price.
Medical Insurance Premiums
It means that medical insurance premiums will continue to skyrocket. This is because as the dollar becomes worth less it takes more dollars to pay transnational corporations so that their balance sheets look good. (Never mind that your salary has not risen along with the dollar devaluation).
Grocery Store&Gas Pump
It means that imported foods will show price hikes for fruits, veggies, and meats at your local grocery store. It means that gasoline prices will go up again and again. (It takes more U.S. dollars to pay for that same oil).
It means that you will see silver and gold prices continue to go up. It is not that the gold and silver have actually gone up - Rather, it is the dollar which has lost its value against gold and silver. It takes more dollars to buy those silver or gold coins.
Current Account Deficit
Finally, what does the IMF mean when it says the dollar should be devalued "so as to reduce the massive U.S. current account deficit?"
Think of it this way:
If the U.S. is paying a fixed rate of 5% on its debts, then if it prints more dollars (devalues the dollar) it can pay off the balance with its fake new money. The balance sheet improves through the use of "funny money."
In other words, if you could pay off your credit card debt today with "funny money" made at home, wouldn't you like that? (Never mind that you would go to jail for a long time).
What Can Christians Do?
The church needs to clearly understand that bible prophecy foretells terrible inflation:
"A quart of wheat for a denarius, and three quarts of barley for a denarius, and do not damage the oil and the wine" (Revelation 6:6).
A denarius was equal to a day's pay. During this period foretold in Revelation, a worker will spend an entire day's wages to feed himself. Never mind his ability to pay for his family's needs, shelter, medical care, college tuition, or cable TV! This describes hyperinflation.
Then? Or Now?
But, don't make the mistake of thinking that Revelation's economic woes won't affect us now. Circumstances leading to this state will probably build a long time beforehand.
So Christians need to quickly get out of debt, live modestly, invest wisely in several inflation hedges, and turn their attention to the God of the Universe.
DNA Records in Book of Life?
In the end, only God matters. Think about this. How long do you think people will remember you after you die? Maybe your children will think of you from time to time…perhaps your grandchildren…but that's all. Only God remembers you and cares enough about you to write your name in the Book of Life (which could be your DNA records, by the way).
Are you in the Book of Life?
…"if anyone's name was not found written in the book of life, he was thrown into the lake of fire" (Rev. 20:15).
Gotthardt, Alan. 2003. The eternity portfolio. Wheaton, ILL: Tyndale.
Kotlikoff, Laurence and Scott Burns. 2004. The coming generational storm: What you need to know about America's economic future. Cambridge, Massachusetts: The MIT Press.
1 Corinthians 15:1-4:
"And it is this Good News that saves you if you firmly believe it…that Christ died for our sins, just as the Scriptures said. He was buried, and He was raised from the dead on the third day as the Scriptures said" (NLT).