9-28-22 Nearing Midnight: Is the Dollar about to Be Dethroned as the World’s Reserve Currency?

Nearing Midnight: Is the Dollar about to Be Dethroned as the World’s Reserve Currency? – Todd Strandberg - https://www.raptureready.com/category/nearing-midnight/ The dollar has been the world’s reserve currency since the U.S. and its allies agreed at the 1944 Bretton Woods conference. According to the International Monetary Fund, the dollar’s share of global reserves stands at 59%, far above the euro at 20.5%. After the euro, there’s a steep drop to the No. 3 slot, which is occupied by Japan’s yen at 5.83%. What really cements the dollar as the world’s reserve currency is an agreement reached with Saudi Arabia. The U.S. promised to protect Saudi Arabia if it would require that all oil sales be made in dollars. If a nation wants oil from the kingdom, they would have to go to the F.X. market and buy dollars. The majority of global oil sales—around 80%—are done in dollars. As the world’s primary reserve currency, the U.S. enjoys the “exorbitant privilege” that goes along with that, such as interest rates that are lower than they might otherwise be and the government being able to fund budget deficits in perpetuity. The U.S. has a massive shortfall in trading with the rest of the world. The U.S. goods trade deficit reached a record $1.09 trillion in 2021—an increase of $168.7 billion (18.3%) from the 2020 trade deficit—according to new U.S. Census Bureau data. In 1991 our trade deficit was only $28 billion. There is very little concern about the deficit because we can simply print the money to pay for our imports. We do export a lot of goods and services to our trading partners. In December of 2001, the value of our exports was $228.1 Billion, but we imported $308 Billion worth of stuff, leaving us with a deficit of $80 Billion. Over the years, the quantity of dollars has built to a huge amount. According to the U.S. Department of the Treasury, foreign countries held a total of $8 trillion dollars. It would be very natural to assume that the $1 dollar bill has the highest quantity in circulation. There are actually more $100 bills in circulation than $1 bills. The dollar has been slowly losing its status as the reserve currency. After peaking at 73% of all currency transactions in 2001, the dollar has been in constant decline. The one thing that is preventing a collapse in the dollar is that no other currency is set to capture the world’s reserve currency title. One of the greatest dangers to the dollar is inflation. High levels of inflation are eating away at the purchasing power of the dollar. Once people realize what is happening, they will use their dollars to buy hard assets like gold, silver or real estate. Another reason for nations to back away from the dollar is sanctions. The U.S. has frequently used the dollar to punish rogue nations. Over the years, the White House has increasingly turned to economic sanctions to punish other nations. In the 90s, there were about 20 sanctions issued every year. In 2021 there were over 100 sanctions issued. One explanation for the massive increase in the number of sanctions is the start of issuing them against individuals. Russia is currently the top target because of its invasion of Ukraine. Putin has been very crafty at avoiding sanctions. He sold off all of Russia’s holdings of U.S. bonds and purchased large quantities of gold, which has no financial loyalty to any nation. The latest move by Putin is to require all purchases of Russian commodities to be made in rubles. This is very clever because many nations need Russian natural gas, oil, and fertilizer. By forcing them to buy rubles, Putin will gain access to foreign currency. China is making moves that may harm the dollar. It is in active talks with Saudi Arabia to price some of its oil purchases in yuan. This move would dent the U.S. dollar’s dominance of the global petroleum market. Because America is not mentioned in Bible prophecy, it is very likely that the U.S. is going to suffer a financial meltdown or some other calamity. If the Antichrist is able to control the world’s financial centers, the Mark of the beast will clearly become the world’s reserve currency. “He causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name” (Rev 13:16-17).

Comments

Post a Comment

Popular posts from this blog

9-18-23 Rage Against Jesus And His People — The Ominous Trend Of 2022

Rage Against Jesus And His People — The Ominous Trend Of 2022 – By Hal Lindsey - https://harbingersdaily.com/rage-against-jesus-and-his-people-the-ominous-trend-of-2022/ By the end of 2022, eight billion people lived on the earth. They were besieged by a series of plagues, droughts, false prophets, war, the threat of greater war, hatred, rage, theft, and violence. The eight billion were fragmented in a variety of ways — according to their nations, level of income, race, gender, various understandings of gender and human sexuality, along with religion or the lack thereof. Change became overwhelming to most of the eight billion. For those over 40, it was almost unfathomable that by the end of 2022, not even half the students at Cambridge University identified as heterosexual. In 2022, deception ruled the day. Trust in government, educational institutions, and the news media had been largely obliterated. Trust in health officials and doctors had become severely damaged. In suc
Read more

9-17-23 Now It Is Obvious Why

Now It Is Obvious Why :: By Dennis Huebshman Published on: December 24, 2022 by RR10 Category:General Articles Once again, 2 Timothy 3:1-5, “But understand this, that in the last days, there will come times of difficulty. For people will be lovers of self, lovers of money, proud, arrogant, abusive, disobedient to their parents, ungrateful, unholy, heartless, unappeasable, slanderous, without self-control, brutal, not loving good, treacherous, reckless, swollen with conceit, lovers of pleasure rather than lovers of God, having the appearance of godliness, but denying its power. Avoid such people.” (ESV – all emphasis mine) Going from cover to cover in the Bible, we see many countries mentioned as being in the end-time activities. However, the once most powerful nation on earth, America, is not specifically mentioned. One would think that this country would be listed because of all it has accomplished up to now. The possibility here could be found in Genesis 12:3; “I will bless those wh
Read more

9-18-23 Power of God’s Control

Power of God’s Control – Terry James - https://terryjamesprophecyline.com/2022/12/25/power-of-gods-control/ Going back just a way in my personal history, I’ll divulge my one-time wanting more than anything to be a cape-wearing, soaring superhero. In that regard, there’s a photograph somewhere in the family archive of myself, Pappy, and David all wearing capes (towels). All three of us were about 6, I think—the age when I was saved in the Seventh Street Tabernacle Church on the corner of Seventh and Derby in Pekin, Illinois. Superman was the rage in the “funny books” (my sons mock me now for using that term for comic books). We studied the Man of Steel and wanted more than anything to fly and perform super feats of strength. Sometimes it got us in trouble –like when we jumped from places higher than were safe for mere mortals with towels affixed around necks. So Pappy, David, and I proved that human beings’ desire for supernatural powers must begin early in life. But what we
Read more