ChristiansUnite Forums

I don't want to alarm anyone, but anyone getting updates from World Net Daily has already seen today's warning from them about the collapse of the dollar.

We've also gotten another warning last week from Ray Gano at Prophezine. It was startling. We were also warned awhile ago by Larry Bates, an economist and banker, that when the dollar loses a certain amount of value the banks will close.

The dollar has lost so much value; Japan is quietly dumping our T-bills.

We are watching the Dollar Index, as we're led to believe the banks will begin to fail as the price drops below 70. That means no one will be buying our T-bills - we need $3 billion a day to keep our economy afloat, we've been told.

Anyone else getting these warnings or have any more information?

This has been expected since the gold standard was dropped in 1971. That put our dollar in a very precarious position to begin with. Now with other nations holding such a large amount of our dollar assets it puts the dollar in even more danger. All it would take is for one of those nations (especially China) to put those assets for sale on the open market then have no one else want to buy them. It would drop our dollar to a value of zero within minutes.

Amen, Pastor Roger!

We just saw this interview this morning on AngelOne TV. The interviewer is Jonathan Bernis who is speaking with the author of a new book, 'Are You Ready - A Warning on Globalization, and how it could usher in the AntiChrist', Paul McGuire:

Bernis: Paul, you begin the book with a passage from Zecharia 12, why do you do that? Talk about that...
McGuire: Well, I grew up in a Jewish neighborhood, and I didn't really understand why the Lord had me grow up in a Jewish neighborhood, all my friends were Jewish. I forgot about it for 20 years, then I began studying Bible Prophecy and I realized you can't understand prophecy until you understand Israel. And Israel, as you know, is the center or the world; world peace. Whether we survive as a nation or we go under is contingent upon our relationship with Israel...
Bernis: Can you tell our president that please? He doesn't get it, does he...
McGuire: No, he doesn't. As I was speaking in a conference the other day, I said 'I fear for our nation.' Because as you know the Abrahamic covenant 'Those that bless Israel will be blessed, and those that curse them will be cursed'...

                     Cont'd...

Cont'd...

Bernis: Talk about the blessings and curses in the light of America, that's what concerns me...
McGuire: It concerns me deeply. In fact I shake in my boots, even as you say that I tremble with fear. 'The fear of the LORD is the beginning of understanding', He's a Holy God, He's a Loving God. But He made an everlasting covenant with Abraham and his descendents, to give them the land of Israel. And, as you know, it's not contingent upon their performance (even though they fell many times). It's a covenant, you can't take it away. In that covenant, God says I'll bless those nations that bless you and curse those that curse you. I believe America has come to a place where it has cursed Israel. Perhaps Israel's last friend among the nations - I think we turned our back on Israel, I think we're pressuring an internationalized Jerusalem, we're placating the enemies of Israel who have sworn to wipe them out, completely off the map. As such, God will keep His Word, and our nation, I believe the protective hand of God has been lifted from our nation...
Bernis: Talk about being on the catastrophic edge as a nation. Why do you believe that?
McGuire: I believe that the church is asleep, but not everybody, there's just a remnant that's awake. But I would say the average evangelical is the Laodicean church, neither hot nor cold, and He said He would vomit them out of His mouth. They cannot see the obvious. And the obvious is that America is on the verge of destruction. It's plain to anybody that can see. But as you know, in that passage Jesus lovingly rebuked that church and told them they needed the eye salve...
                  Cont'd...

Cont'd...

McGuire: ...and that eye salve is the annointing of God, placed on the spiritual eyes of the church so that their vision can be restored. And if their vision was restored, then they can see that we are on the edge of destruction. I don't want to sound sensationalistic, but it's true...
Bernis: It's actually coming sensationalistic, literally...we are experiencing that reality...
McGuire: Yes, we could wake up tomorrow, literally, and there could be an announcement saying that, America, for it's economic survival, is now merged officially with Canada and Mexico, and we have now become the North American Union.
Bernis: Right around the corner?
McGuire: It could be tomorrow morning.
Bernis: Woe! I want to talk about - you quote Francis Schaefer, one of my favorite authors of all times, who criticized America for worshipping the gods of peace and prosperity, rather than the God of the Bible. Talk about what the consequece of that is...
McGuire: Well, Francis Schaefer probably had the deepest theological influence on me. As you know, he warned the evangelical church...
           Cont'd...

Cont'd...

McGuire: ...he said, the great sin of the evangelical church is accomodation, giving in to the world, surrendering truth to be the 'friend' of the world. But you and I know, Jesus didn't go around being a friend of the world. He didn't get cruicified because He was buddying up to them, He was crucified because He spoke Truth. So Schaefer warned that as we give up truth to befriend the world - which he called accomodation... He continued to say that, inevitably, chaos will occur, and authoritarianism, or totalitarian gov't, either from the right or the left will emerge to manage the chaos and we're at that moment...
Bernis: ...Sobering! Let's talk about the supernatural. You write about the seat of satan (the temple of zeuss), in influencing the occult and so on...give us a picture of this from throughout history until today...
McGuire: In the research I've done for other books I've done extensive research on Adolf Hitler, the holocaust...that entire situation. I was stunned to discover, because I wasn't taught this in college or school, that the Nazi party was first and foremost an occult party. It was a political party second, but primarily an occult party. And all of Hitler's key leaders, the men that put him into position and taught him to speak in stadiums, and Hitler himself, were deeply involved in the occult. This seat of satan was origially Babylon, which was the fountainhead of all the occultic religions. Then in Pergamus, the seat of satan.. that religion began to spring up again. Then it found itself in Rome...and today, and it was there during Hitler's time, is behind the Reichstag in Germany. So, isn't it interesting that the occult powers, the pricipalities and powers...
            Cont'd...

Cont'd...

McGuire: ...demons, powerful spiritual beings, were behind the third reich - that's why they hated the Jews - it was a sacrifice to satan and satan hates the Jews, that throne is headquarted there in Germany.
Bernis: You say in the book that the US is going to be swallowed up into another economic region, which is something we've talked about a number of different times, that the US, if it's ever mentioned in Scripture it's very little. So what do you believe? Talk about the US being swallowed up into 5 global regions - that was very compelling..
McGuire: Well, I asked the former White House Sec'y, Tony Snow, under the Bush administration, if there was going to be a merger of Canada, Mexico and the US and he laughed and said no. I was talking about this on the radio and Christians would call up and say it was a lie. But, right now there's 5 regional global gov'ts, the European Union is probably the most pronounced. They incrementally, and very subtlely, through a series of obscure, economic treaties, created a European Union. The Europeans had no idea what they were getting into. They have a European Constitution that the Pope and even a well known atheist called the most AntiChrist document he'd ever seen - an atheist called the document that! And they have a EuroDollar, common currency. The game plan is to make a N. American Union, which is a model of the EU; the AmeroDollar, which is a model of the Euro, then after these regional global gov'ts wanted Asia, wanted Africa - after these are put into place, then the puzzle pieces are put together and you have one Global Government!
    Cont'd...

Cont'd...

Bernis: And really the planning has been going on a long time, hasn't it?
McGuire: You're right. It took off heavily in the 1870's with the Fabian Socialists out of England - HG Wells, the science fiction writer; Bertrand Russel, the intellectual atheist; Council on Foreign Relations. I was standing outside the CFR building the other day, and I'm laughing because the guy standing next to me was one of the world's most powerful financial men in the world - I was shooting a documentary about the real capital of the US isn't in Washington, but right there, the CFR. The purpose of CFR is global gov't; the purpose of the UN is global gov't. We're already in a global gov't - the dollar's being destroyed, world currency has risen. The architecture both economically and politically, and militarilly of the global gov't is already put in place. The illusion of soveignty is maintained to keep Americans happy!
Bernis: What is our calling as we approach these end times - dangerous times?
McGuire: Well, it goes without saying PREACH THE GOSPEL, because it's the most powerful weapon we have; intercessory prayer, because our fight isn't against flesh and blood but against pricipalities and powers. But, given those 2 things, where Christians fail, and you know that Francis Schaefer talked about that, STAND UP FOR RIGHTEOUSNESS in concrete, practical ways. Get involved - vote, speak out, be informed, be intelligent. God didn't call us to be monks living on a hill, but to tell His people...

Fox News Poll: 79% Say U.S. Economy Could Collapse
March 23, 2010
By Dana Blanton
FOXNews.com

The latest Fox News poll finds that 79 percent of voters think it’s possible the economy could collapse, including large majorities of Democrats (72 percent), Republicans (84 percent) and independents (80 percent).

Most American voters believe it’s possible the nation’s economy could collapse, and majorities don’t think elected officials in Washington have ideas for fixing it.

The latest Fox News poll finds that 79 percent of voters think it’s possible the economy could collapse, including large majorities of Democrats (72 percent), Republicans (84 percent) and independents (80 percent).

Just 18 percent think the economy is "so big and strong it could never collapse."

Moreover, 78 percent of voters believe the federal government is "larger and more costly" than it has ever been before, and by nearly three-to-one more voters think the national debt (65 percent) is a greater potential threat to the country’s future than terrorism (23 percent).

Who has a plan for dealing with the economy?

Overall, 35 percent of voters think the Obama administration has a clear plan for fixing the economy, down from 42 percent last summer (July 21-22, 2009).

At the same time the number saying the White House doesn’t have a plan for the economy has increased from 53 percent in July to 62 percent in the new poll. That includes almost all Republicans (88 percent), two-thirds of independents (67 percent), as well as a third of Democrats (33 percent).

Even fewer people think Democrats in Congress (24 percent) and Republicans in Congress (16 percent) have clear plans to fix the economy.

There is a large gap in party support, as Democrats (46 percent) are significantly more likely than Republicans (25 percent) to think their party has a strategy for the economy.

The national telephone poll was conducted for Fox News by Opinion Dynamics Corp. among 900 registered voters from March 16 to March 17. For the total sample, the poll has a margin of sampling error of plus or minus 3 percentage points.

"These results reveal a deep anxiety about the fragility of our economy, as voters face continued uncertainty about jobs and an expanding commitment to public sector spending," said Ernest Paicopolos, a principal of Opinion Dynamics.

Three in 10 American voters (30 percent) say they are comfortable with the size and role of the federal government right now, while 65 percent say the government has become too big and "is restricting American freedoms."

Sizable majorities of Republicans (84 percent) and independents (74 percent) think the government is too big, while just over half of Democrats (51 percent) are okay with the size of government.

Fox News Poll: 79% Say U.S. Economy Could Collapse (http://www.foxnews.com/politics/2010/03/23/fox-news-poll-say-economy-collapse/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+foxnews/politics+(Text+-+Politics)&utm_content=Google+Reader)

Debt will rise to 90% of GDP

By David M. Dickson

President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

In its 2011 budget, which the White House Office of Management and Budget (OMB) released Feb. 1, the administration projected a 10-year deficit total of $8.53 trillion. After looking it over, CBO said in its final analysis, released Thursday, that the president's budget would generate a combined $9.75 trillion in deficits over the next decade.

"An additional $1.2 trillion in debt dumped on [GDP] to our children makes a huge difference," said Brian Riedl, a budget analyst at the conservative Heritage Foundation. "That represents an additional debt of $10,000 per household above and beyond the federal debt they are already carrying."

The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it's headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO's deficit estimates.

That figure would equal 90 percent of the estimated gross domestic product in 2020, up from 40 percent at the end of fiscal 2008. By comparison, America's debt-to-GDP ratio peaked at 109 percent at the end of World War II, while the ratio for economically troubled Greece hit 115 percent last year.

"That level of debt is extremely problematic, particularly given the upward debt path beyond the 10-year budget window," said Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget.

For countries with debt-to-GDP ratios "above 90 percent, median growth rates fall by 1 percent, and average growth falls considerably more," according to a recent research paper by economists Kenneth S. Rogoff of Harvard and Carmen M. Reinhart of the University of Maryland.

CBO projected the 2011 deficit will be $1.34 trillion, not much different from the administration's estimate of $1.27 trillion. However, CBO's estimate of the 2020 deficit at $1.25 trillion significantly exceeds the administration's $1 trillion estimate.

"The biggest part of the deficit difference is lower tax revenue due to the different economic assumptions," said James R. Horney, a federal-budget analyst at the liberal Center on Budget and Policy Priorities. "The administration assumes GDP and incomes will be higher, and that translates into higher revenues than CBO expects. Relatively small differences in economic assumptions can add up to big differences over 10 years."

While Ms. MacGuineas agreed that "economic forecasts have a large impact on budgetary projections," she cautioned that such differing assumptions, often called the "rosy scenario," could account for just $350 billion of the 10-year, $1.2 trillion difference between the White House and CBO.

The president has established a fiscal commission to propose actions to reach his goal of balancing the budget by 2015, except for net interest payments, which CBO projects to total $520 billion that year. The president's budget, however, will generate a $793 billion deficit in 2015, according to CBO.

"The proposed budget is woefully insufficient to achieve the president's goal or the important fiscal goal of stabilizing the debt at a reasonable level in the medium and long term," Ms. MacGuineas said.

The CBO and the administration expect the deficit for fiscal 2010, which ends Sept. 30, to approximate $1.5 trillion and exceed 10 percent of GDP, the first time that threshold will have been reached since World War II. Before last year's deficit reached an eye-popping 9.9 percent of GDP, the biggest postwar deficit was 6 percent of GDP in fiscal 1983.

In addition to the free-spending fiscal policy the U.S. government will pursue, monetary policy will remain loose in the near term, Federal Reserve Chairman Ben S. Bernanke told a congressional committee Thursday.

Citing still-fragile economic conditions and noting the low level of inflation, Mr. Bernanke told the House Financial Services Committee that the Fed would maintain historically low short-term interest rates for the time being.

Tightening would not begin until the "expansion matures," he said, though he did not provide a specific timetable for ratcheting up interest rates.

Indicative of the economy's ongoing fragility, especially in the labor market, was the fact that first-time claims for unemployment benefits were still a relatively high 442,000 last week, the Labor Department reported Thursday. The number was a decline of 14,000 over the previous week's seasonally adjusted number.

Economists disagree over the propriety of running a $1.5 trillion deficit this year as the economy shifts into recovery mode. But they generally agree that budget deficits should proceed along a consistent, downward path as the expansion matures. Most economists, therefore, fear the prospect of rising deficits in the latter part of this decade, long after steady economic growth has returned and unemployment has plunged.

In a worrisome development, CBO projects that federal budget deficits, after dropping sharply, then will begin to rise continuously from 4.1 percent of GDP in 2014 to 5.6 percent in 2020.

For the 2016-20 period, CBO estimates that deficits will average more than 5 percent of GDP, even while assuming the economy will be near full employment, with an average jobless rate of 5 percent during that same five-year period.

One economist concerned about unsustainable fiscal policy in the out years is OMB Director Peter R. Orszag.

"Deficits in the, let's say, 5 percent of GDP range would lead to rising debt-to-GDP ratios in a manner that would ultimately not be sustainable," Mr. Orszag acknowledged to reporters on March 20, 2009, two months after the administration entered office.

Debt will rise to 90% of GDP (http://www.washingtontimes.com/news/2010/mar/26/cbos-2020-vision-debt-will-rise-to-90-of-gdp/print/)