Ten major Threats Facing the Dollar in 2009
Jan 05, 2009
Here is a good summary of what to expect in 2009 and 2010 insofar as the dollar is concerned. In view of my previous postings about the drop in oil prices (as told by Lindsey Williams), one statement is most significant in the following article:
"Oil producing nations have built up lavish spending habits and large dollar reserve in recent years as a result of profits from rising oil prices. Now that commodity prices have crashed, those profits are gone, and those Oil producing nations will have to bankroll their spending by selling their accumulated dollar assets. Saudi Arabia, for example, is projecting a 2009 Budget Deficit, which it intends to finance by selling off its US holdings. Russia, meanwhile, has already sold over 20% of its $598.1 billion reserves, and it can be expected to continue doing so this year."
He also reminds us of the warnings in past decades about mortgaging our children's futures by deficit spending. . . We ARE the children, and the time to pay the piper is now.
Don't worry about the children
"For years Americans have worried about passing on our enormous federal debts to our children. Well there is good news on this front: you don't have to worry about the children anymore. America's massive debts aren't going to be paid for by a future generation. They will be paid for today through a massive devaluation of our currency."
The cumulative effects of the huge increase in deficit spending, he says, means that the value of the dollar will be worthless by the end of 2009. He writes:
"The current rally in treasuries and the dollar is the latest in a long line of bubbles. Those same commentator which got it wrong on previous occasions are now predicting months of deflation and a new multi-year bull market for the dollar (worst prediction ever). Out of all the bubbles so far, this current rally in treasuries and the dollar is the most ridiculous. The fundamentals behind the dollar, as outlined in this article, are horrendous. There is simply no rational reason to believe the dollar will retain an ounce of value by the end of 2009."
It is possible that he is right, of course. Who am I to argue? But from the standpoint of prophetic timing, I see the year 2010 as being the critical year for America. Of course, by Hebrew time, 2010 begins Sept. 19, 2009, so his prediction may well come to pass. But keep in mind that these dire predictions are about Babylon and its collapse. It says nothing about the reconstruction of the Kingdom of God, which is taking place at the same time. I will next post what the Father gave me last night about the positive side of all this. Meanwhile, however, here is the full article about the Bad News for Babylon for you to read:
Dr. Stephen Jones