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Regime Change in America

Jan 19, 2009

Three weeks ago a $25 billion Zimbabwe note would buy 20 loaves of bread. Now they have issued a $50 billion note, which will only buy one loaf of bread.


What a difference three weeks makes.

Wait till they print up notes for a Trillion. That should occur by the end of February. Soon the whole note will be consumed with zeros, and they won't have room for a picture.

Obviously, Zimbabwe is an extreme example of a currency gone bad. It would probably take longer for a larger economy such as ours to get to that point. And no doubt we have smarter Babylonians in our own treasury department, so they would know how to use such a situation to declare a financial monarchy in the name of national security.

Up to now, most of our treasury bonds have been purchased by money from other countries--money that was created in the past. Whatever money is relocated here does not increase the overall supply. It merely supplies us with the money we need.

But when those foreign nations are unable or unwilling to buy our debt, the Fed has to create new money to purchase those treasury debt notes. That's the point where the money supply begins to increase rapidly and the value of each dollar is diluted. We call it "inflation," because we relate it to the price of goods and services. But it is actually a deflated value of the dollar.

With the price of oil down to roughly $40/barrel (give or take a few bucks), the oil-producing countries are running out of cash and have to spend their dollar reserves on their own people, rather than buying our debt. Dubai has stopped its huge building projects because of a shortage of money and falling property prices. They had been building the tallest building in the world--one kilometer high--but had to stop building "for a year." I suspect that it will prove to be a Tower of Babel type and will never be completed.

Just one more sign of the demise of Babylon.

We are about to see regime change in America. I suspect that the powers that think-they-be have pushed for an Obama presidency in order to collapse the economy on his watch. It is a rather cruel joke on all those who look to Obama as the one to solve the problems of the Bush administration. Obama has discovered, however, that most of his cabinet has been pre-picked for him, and I suspect he is just now beginning to see that he has less power as president than he once thought. I understand that he only picked two of his cabinet members--and that he had to fight with his own party leaders to get his way.

In my view, it hardly matters any more. The cracks in the system are too massive to fix. They will try to save the day by more massive power grabs and perhaps by declaring martial law.

Obama is being compared to Lincoln and Roosevelt. It is interesting that Lincoln had no choice but to become a virtual dictator, because when the southern state delegates walked out of congress, there was no legal government left. And three days after Roosevelt became president, he induced congress to declare a national emergency which suspended the Constitution itself. (The bill was carefully pre-written long before Roosevelt's inauguration, of course, because there is no way he could have written it in three days.)

Are we being prepared for another Lincoln and Roosevelt? What will this actually mean insofar as the economic crisis is concerned? In 1933 the big bankers foreclosed on the American government and then began working to foreclose on individual American property. Will we now see this process come to completion? Will we become virtually a nation of renters? I doubt that this was part of Martin Luther King's dream, or else he would have said, "I have a nightmare."

If the government "buys bad mortgages," it probably means that the government would end up owning all that property and will magnanimously rent it to the current occupants. The banks own the government, the government owns the property. I think this is the plan, but I also believe that it will fail in the end. Yet I do not think it will fail until the Church repents, for God's purpose in all of this is to judge America until the Church repents. Pray that this happens sooner rather than later.

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Category: News Commentary

Dr. Stephen Jones

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