Having lived in Southern California, I can tell you that every time the earth would twitch, the question on anyone’s lips was, “Could this be day it happens?” Of course, “it” refers to the prediction by scientist that a massive quake will one day hit and half the state slide into the ocean—commonly known as “the big one”.
Today, it has another meaning for those with an eye on the world’s financial crises. The volatility of intra-day 1,000 point market swings is worse than riding the Wild Mouse at Coney Island. With every market drop, the questions come: “Is this it—the big meltdown? Where will it end and what will be the outcome? Are we headed for another Great Depression?”
As the heads of state from around the globe scurry to plug the leaks in the financial systems of the world, a new cry comes forth calling for global financial reforms. The intent is to relieve the fears of the populace in the hopes of bringing a new format to build the future upon.
President Bush is scheduled to have a dinner discussion at Camp David with French President Nicolas Sarkozy and European Commission President José Manuel Barroso to discuss global financial reforms.
Meanwhile, British Prime Minister Gordon Brown is proposing holding a second Bretton Woods, a reference to the 1944 conference that set up the post-World War II global financial architecture and created the International Monetary Fund. The Wall Street Journal noted, "The U.S. is particularly queasy about international oversight of big banks…European leaders have political momentum, having played a lead role in finding a workable solution to the crisis, and some believe that the lame-duck Bush administration would have trouble resisting their proposals."
Students of bible prophecy should find all of this of interest, for it is the forerunner of the coming Mark of the Beast predicted in Revelation 13. Of particular interest, should be a focus upon the European Union—let me explain why.
Until now, the world already has had a universal currency –the US dollar. It's been the international benchmark since the middle of the last century. However, faced with a staggering national debt, the U.S. is losing its stature in world matters as it has become a debtor to other nations. Proverbs 22:7 tells us, “The borrower is servant to the lender.” One cannot demand anything from a ‘borrower’ position.
The global credit crunch in the world markets now has Europeans calling for the creation of a global central bank organized along the lines of the US Federal Reserve. The European Union has a unified currency in the Euro, but it has no central bank like the U.S. to regulate it. Because of this problem, European leaders are pressing for changes including global standards for regulation and banking. Along with leaders of other nations, there is a call for consideration of a centralized global currency.
The idea of a centralized global currency administered by a global central bank is not new. There have been plans for years for a replacement global currency called the 'dey' for Dollar, Euro, and Yen.
The lyrics of an old song remind us, “there’s a new day coming, and it’s just around the bend.” Except this time, the ‘day’ points to another ‘dey’ and the present financial crises are forerunner events leading to the coming of the Antichrist and his system.
"And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draws near." Jesus Christ is coming soon—and that’s a day I’m waiting for!