Recent events regarding the collapse of several high-profile banks on the west coast have heightened interest, as well as nerves, for many economists that a domino or ripple affect might follow and subsequently collapse the dollar’s value across the globe. Many people do not realize that the American dollar is considered the reserve currency of the world. In other words, it is the basis upon which almost all other currencies derive their value. In fact, many countries buy U.S. debt as a means of securing their own money. It is their means of savings. China for instance owns more than a trillion dollars of U.S. debt. The current arrangement gives the U.S. government power over the financial system. And we've increasingly used that power to sanction adversaries like Iran and Russia. It is the primary reason that Vladimir Putin has been working to end Russia's reliance on the dollar. But Putin is not alone when it comes to trying to shift global reliance on the U.S. dollar. A coalition of nations referred to as BRICS (Brazil, Russia, India, China, and South Africa) make up a growing BRICS economic system specifically focused on becoming the dominate global economy by 2050 and rendering the dollar as just another national currency. Just this year the coalition has engaged the membership process to add Saudi Arabia, Turkey, and Egypt.
The global interest in a world currency is increasing. Bringing it about would likely require the collapse of the U.S. dollar along with the creation of an emergency global digital currency to keep the national and “world” economy functioning while subsequently shifting the balance of financial power to the International Monetary Fund (IMF) or something like it. Most prophecy teachers point to Revelation 13 as an indicator of a last day’s global economy under the oversight of the Antichrist. Mark Hitchcock has written that “the quickest, simplest way to take the reins of the world economy is to implement a global cashless economy—a cashless revolution.” Certainly the stage is being set for a new kind of economic operation. The fact is, there is a Great Economic Reset coming. With that said it is my “studied” opinion that you can expect to see the following things in the years, possibly even months, ahead.
It is happening in Europe (Sweden has made it a national goal to no longer use cash by the end of this year) and China already has. Even in America some places are posting signs at the entrances of their business stating that they no longer accept cash. COVID caused many businesses to refuse cash out of fear of transferring contamination and thus helped conveniently accelerate a trend that was already underway. An article in the New York Times from July 6, 2020 was headlined, “Our Cash-Free Future is Getting Closer.”
Biometrics—face, palm, and/or speech recognition technologies will continue to be offered as the solution for fast and cashless purchasing and making payments. While these things are not the “mark of the beast,” they are the technological precursors. Keep your eyes on “FedNow” a service being launched by the Federal Reserve Bank in July designed to expedite direct payments while allowing the Feds to monitor your expenditures and perhaps, down the road, the possible restriction of spending as a form of punishment to organizations and individuals that do not follow cultural rules.
From Forbes, July 1, 2020, “U.S. Moves Closer to Digital Dollar.” This is a response to how cryptocurrencies have decentralized the control of currencies resulting in central banks pursuing the development of their own national digital currencies. A clash between cryptos and digital currency is inevitable. Whatever comes of it, it foreshadows a future of digitized money and a cashless economy.
There is so much more to write on this subject but column space just doesn’t allow it. But we do know where this is going. The coming economic reset and cashless agenda is a necessary catalyst that helps set the stage for the last-days economic system of the Antichrist. Keep reading, and remember God is always trying to take you someplace new.
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