Showing posts with label g7. Show all posts
Showing posts with label g7. Show all posts

Wednesday, June 17, 2026

'I'm the boss', Trump tells G7 counterparts


Evian (France) (AFP) – The G7 summit of world powers in France is being chaired by President Emmanuel Macron as host but on Wednesday his guest US President Donald Trump left no doubt over who he believed was in charge.

Issued on: 17/06/2026 - 12:27


I'm the boss, said Trump as he entered the session © Ludovic MARIN / AFP


"I'm the boss," Trump said as he strode in to the morning session of the last day of the three-day G7 summit, with the other leaders already in their seats.

Amid laughter, Macron appeared to take the comment with good humour. "How are you?" the French president asked.

"Good, thank you," replied Trump, a tycoon before becoming president who famously hosted the TV show "The Apprentice" with its catchphrase "You're fired!", as he finally took his seat.

Fresh from clinching an accord to end the war with Iran and celebrating his 80th birthday, Trump's presence has dominated the summit in the spa town of Evian on Lake Geneva.

French officials will be satisfied that the mercurial US president has stayed for the entire event and signed on to the G7 communique -- in contrast to the previous gathering in Canada, where he left early.

In an unusual gesture, Macron has invited Trump to dinner at the Palace of Versailles outside Paris after the summit winds down on Wednesday afternoon.

Macron, under pressure to show he is not fawning over Trump, has already said the evening at Versailles will not be a "gala" dinner.

© 2026 AFP




Wednesday, June 06, 2018

All eyes on Canada as first G7 nation prepares to make marijuana legal


From crime to health to business, Canada’s decision to legalize marijuana is a grand progressive experiment that promises to answer a host of questions


Selena Ross in Montreal

Wed 6 Jun 2018 02.00 EDT Last modified on Wed 6 Jun 2018 17.00 EDT



Marijuana legalization could affect Canada’s crime patterns, health and countless other factors. Photograph: Bernard Weil/Toronto Star via Getty Images


When Canopy Growth opened its first cannabis factory in an old chocolate plant near Ottawa four years ago, it did so predicting a bright future. Canada had already legalized medical marijuana, and Canopy predicted full legalization for recreational use to be next.

What the company hadn’t predicted, however, was the sudden flood of foreign visitors. Politicians and police authorities from Jamaica, Germany, Denmark, the Netherlands, Greece and Australia have all come knocking, as well as doctors from New Zealand, Brazil and Chile, along with groups of corporate investors and bankers – so many that Canopy now sometimes splits up the groups according to their birthdays.

“We knew we’d have to give a lot of tours, so we just cut a window into the wall,” said the company spokesman, Jordan Sinclair. “We put windows in all of the doors.” 

Canada will be thrust even more directly under the international microscope on Thursday, when a vote in the Senate is expected to ratify Bill C-45, effectively making Canada the first G20 nation to legalize recreational marijuana.

Thursday, May 26, 2016

In a rare occurrence, Obama speaks his mind about Trump for the world to hear


The Debrief: An occasional series offering a reporter’s insights

Obama says world leaders are 'rattled' by Trump


While at the G-7 Summit in Japan, President Obama says world leaders are "rattled" by Republican presidential candidate Donald Trump. He also told reporters that Trump displays ignorance of world affairs. (AP)


By Juliet Eilperin
Politics
May 26 at 7:39 PM

The scene was striking: an American president, standing before reporters on foreign soil, declaring that one of his potential successors had “rattled” other heads of state because he had displayed “either an ignorance of world affairs or a cavalier attitude” about them.

President Obama’s public disparagement Thursday of Donald Trump, the presumptive Republican nominee, during a news conference in Ise City, Japan, obliterated the now-quaint political convention that partisanship stops at the water’s edge. It also revealed a stark truth: The world is worried about Trump.

Although he is not on the November ticket, Obama has a foreign policy legacy to protect, particularly against Trump, who has called the president’s approach weak and incoherent.

[With his legacy in the balance, Obama works to boost Democrats in 2016]

The billionaire, who has openly mocked foreign dignitaries for questioning his capacity to serve as America’s leader, remained unapologetic in the face of Obama’s critique.


U.S. President Obama talks with Italian Prime Minister Matteo Renzi, left, as they arrive at the second working session during the 2016 Ise-Shima G-7 Summit in Shima, Japan, on May 26. (Carlos Barria/Pool photo via Associated Press)

“When you rattle someone, that’s good because many of the world, as you know, many of the countries in our world, our beautiful world, have been absolutely abusing us and taking advantage of us,” he said at a news conference in Bismarck, N.D. “So if they’re rattled, in a friendly way, we’re going to have great relationships with these countries.”

Several historians said it was rare, if not unprecedented, for an outgoing president to criticize the foreign policy position of someone from the opposite party by name while traveling abroad.

President Dwight D. Eisenhower thought John F. Kennedy was too inexperienced for the job, but he made only an oblique reference to this at the end of the campaign between Kennedy and Richard M. Nixon.“We need a leader who will not, one day, say that the United States government should intervene in Cuba and then retract it the next day,” Eisenhower said at the time.

Lyndon B. Johnson detested his 1964 opponent, Barry Goldwater, but refused to mention him by name while on the campaign trail. Instead, according to University of Utah history professor Robert A. Goldberg, he warned voters of having a “reckless” and “radical” leader with his hand on the nuclear trigger.

The closest an outgoing president has come to launching into a foreign policy critique of a possible successor while abroad was George W. Bush, when he spoke before the Israeli parliament in 2008.

“Some seem to believe that we should negotiate with the terrorists and radicals, as if some ingenious argument will persuade them they have been wrong all along,” Bush said, without naming anyone.

Obama has explicitly criticized Trump several times this year, saying the presidency requires sober judgment, and some leaders have asked him about Trump’s most controversial remarks. But he went even further at the close of this week’s G-7 summit. The president said foreign leaders are “surprised” by Trump and that they “are not sure how seriously to take some of his pronouncements.”


What Obama is doing on his historic Asia trip


The president arrived in Japan for the Group of Seven summit, where the leaders of the seven advanced economies are meeting for two days. The president will also visit Hiroshima, the Japanese city where the United States dropped an atomic bomb in 1945.

“But they’re rattled by it — and for good reason — because a lot of the proposals that he’s made display either ignorance of world affairs or a cavalier attitude or an interest in getting tweets and headlines instead of actually thinking through what it is that is required to keep America safe and secure and prosperous, and what’s required to keep the world on an even keel,” he said.

Just four years ago, Obama chastised an adviser to his then-GOP rival Mitt Romney, Glenn Hubbard, for questioning his economic policies in the opinion pages of a German newspaper. “And I think, traditionally, the notion has been that America’s political differences end at the water’s edge,” he said after the G-20 summit in Los Cabos, Mexico.

But standing on the world stage Thursday, Obama showed no hesi­ta­tion to attack Trump. Fredrik Logevall, the Laurence D. Belfer professor of international affairs at Harvard University, said in an email that outgoing presidents “typically maintain a low profile in these situations. They seek to remain above the fray — it’s more dignified, more presidential.

“I can’t think of a prior post-World War II case in which a sitting president has questioned publicly and openly the fitness for office of a major party nominee,” Logevall added.

For months, Obama operated on the assumption that Trump would simply not become president. During a trip to Asia in February, he said Americans are too “sensible” to elect him. In April, he recounted how he had reassured one of his wealthy Hollywood donors, “Mr. Trump is not succeeding me.”

But as polls show a dead heat between Trump and Hillary Clinton, and concerns about her use of a private email server at the State Department persist, the president has become increasingly vocal about the prospect of Trump taking office.

To some extent, the entire concept of political feuds ending at U.S. shores is “an aphorism that serves to shore up an apparent consensus while quieting dissenters,” said Nicole Hemmer, a visiting research associate at the University of Virginia’s Miller Center. What started as a pledge to forge a united front during the Cold War with the Soviet Union showed cracks even during that period and has become even more visible on foreign trips in recent years.

Obama criticized Bush’s foreign policy during a visit to Germany during his 2008 presidential bid. Romney repaid the favor to Obama during a trip to Europe and Israel four years later. But Trump’s political rise has upended the traditional calculations both in Washington and world capitals across the globe. The Republican has suggested that Japan, South Korea and Saudi Arabia should consider developing nuclear weapons, because proliferation is “going to happen anyway.”

He argues for erecting a wall on the southern border to keep undocumented Mexican immigrants out of the United States and that the United States should have a “total and complete” ban on Muslims ” until our country’s representatives can figure out what is doing on.”

British Prime Minister David Cameron called the proposed Muslim ban “stupid and wrong,”



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Tuesday, June 03, 2014

G7 Summit in Brussels, 4 – 5 June 2014: Background note and facts about the EU's role and actions







European Commission

MEMO

Brussels, 3 June 2014



The Brussels G7 Summit will take place on 4-5 June. At their meeting in The Hague on 24 March, the G7 at leaders' level (Canada, France, Germany, Italy, Japan, the United Kingdom, the President of the European Council and the President of the European Commission decided not to participate in the planned G8 Summit in Sochi (Russia) as a reaction to the Russian Federation's violation of Ukraine's sovereignty and territorial integrity. Instead, they decided to meet in Brussels in the G7 format on the same days.

The Brussels G7 Summit will be hosted by the European Union. The European Union is represented by European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso.

At the Brussels Summit, Leaders will discuss the situation in Ukraine and the relations with Russia as well as other foreign policy issues, the global economy, energy, climate change and development.

1. Foreign policy

As the first topic, the G7 leaders are expected to discuss foreign policy challenges at their working dinner on the evening of 4 June. The leaders will focus their discussions on Ukraine and Russia but they may also address the latest developments on other foreign policy issues.

In the last months and following the outbreak of the Ukraine crisis, the G7 leaders have issued several declarations condemning the Russian Federation's clear violation of the sovereignty and territorial integrity of Ukraine (see statement of 3 March), condemning the illegal referendum and the illegal attempt by Russia to annex Crimea in contravention of international law and specific international obligations (see The Hague Declaration following the G7 meeting on 24 March) and expressing their deep concern at the continued efforts by separatists backed by Russia to destabilise eastern Ukraine (see statement of 26 April).

At the Brussels G7 Summit leaders are expected to discuss the latest developments following the presidential elections held in Ukraine on 25 May. They will discuss the continued work to support Ukraine's economic and political reforms as well as their continued readiness to intensify targeted sanctions and to impose further costs on Russia should events so require.

Role of the EU: In response to Russian actions so far, the EU has cancelled the next EU-Russia summit and member states' regular bilateral summits with Russia have also been annulled. Negotiations on visa matters and a new agreement with Russia have been suspended. The EU has also targeted 61 persons responsible for actions that threaten or undermine the territorial integrity, sovereignty and independence of Ukraine with asset freezes and bans from entering the EU. Two confiscated entities in Crimea and Sevastopol are also subject to an asset freeze.

At the same time the EU continues to roll out a €11 billion support package to Ukraine including a €1.6 billion of Macro-financial assistance to contribute to covering Ukraine's urgent balance-of-payments needs (of which the first €100 million were paid out on 20 May) and a €365m state-building contract to help the country's transition and boost the role of civil society, promoting democratic reforms and inclusive socio-economic development.

On 21 March the political chapters of the EU-Ukraine Association Agreement were signed. The EU remains committed to signing the full agreement including the deep and comprehensive free trade area. Even ahead of the signature of the provisions on free trade, temporary EU trade preferences for Ukraine apply since 23 April. More information on the EU support for Ukraine:

http://europa.eu/rapid/press-release_MEMO-14-279_en.htm

2. Global economy

The first working session of the second day, Thursday 5 June, is on the global economic outlook. The discussions are expected to focus on the improved prospect of global growth and how to tackle the remaining serious challenges such as high unemployment. Leaders will also address trade issues including the active and ambitious trade agenda of the G7 members with a number of bilateral, plurilateral and multilateral negotiations ongoing.

Supporting growth and jobs remains the key priority for the G7 members and the recovery is strengthening/continuing. Leaders are expected to call for continued and sustained growth in order to bring down unemployment, particularly among young people and the long term unemployed. Structural reforms, as well as completing key aspects of core financial reforms, such as building resilient financial institutions and ending too-big-to-fail, remain important in order to achieve this common objective.

Role of the EU: The economic and financial situation in the euro area has stabilised since last summer thanks to the determined and comprehensive crisis response by the EU. There are genuine signs that a more lasting recovery is now taking place in the EU and the euro area. GDP is expected to grow by 1.6% in the EU this year, before speeding up to 2% in 2015. Unemployment rates have stopped increasing since mid-2013 in most of the EU while remaining, however, at unacceptably high levels.

Leaders are expected to also address and reaffirm their commitment to tackling tax avoidance, including through the G20/OECD Base Erosion and Profit Shifting Action Plan, and tax evasion, where the aim is to focus on the rapid implementation of the new single global standard for automatic exchange of tax information.

Role of the EU: thanks to its experience and pioneering role on tax transparency and tax good governance the EU and its member states play a central role in fora like the G7/G8, the G20 and the OECD to ensure fairness and transparency in taxation at global level. More on the EU's policy to fight tax fraud and tax avoidance: http://ec.europa.eu/taxation_customs/taxation/tax_fraud_evasion/index_en.htm

Under the trade and investment umbrella, leaders are expected to reconfirm their commitment to fight protectionism. The leaders will also take stock of the WTO negotiations and prioritise the swift implementation of the Bali package and continue the current Aid for Trade commitments.

Role of the EU: Together, the European Union's 28 members account for 19% of world imports and exports. Trade remains an important driver for growth and jobs. That is why it is a key priority for the EU to open up more market opportunities for European business by negotiating new Free Trade Agreements with key partners, in particular the G7 members Canada, Japan and the United States). If the EU was to complete all its current free trade talks tomorrow, it could add 2.2% to the EU's GDP or €275 billion. In terms of employment, these agreements could generate 2.2 million new jobs or additional 1% of the EU total workforce.

EU trade policy aims to working to:


create a global system for fair and open trade, through active support to the agreements and obligations overseen by the WTO; the focus is on implementing the Bali Trade Facilitation Agreement and on developing a future WTO work programme.


further open up markets with key partner countries – cf. the ongoing trade negotiations with the USA (Transatlantic Trade and Investment Partnership), , Canada (Comprehensive Economic and Trade Agreement), Japan (Free Trade Agreement) and China (EU-China Investment Agreement). Free Trade Agreements were recently concluded with Singapore and are under negotiation with Malaysia and Vietnam. Various Deep and Comprehensive Free Trade Agreements are concluded or are under negotiation with several countries in the EU's Southern and Eastern Neighbourhood, including Ukraine;


lift barriers, open markets and ensure that trade is fair;


ensure that trade is a force for sustainable development, opening EU markets to all imports from the world's poorest countries and supporting developing countries to build the capacity to take advantage of trade.

More info and key figures on EU trade policy on http://ec.europa.eu/trade/

3. Energy and climate change

The discussions on energy and climate change at the second working session on Thursday 5 June will be two-fold.

First, leaders will discuss energy security in light of the Ukraine crisis and building on the Rome G7 energy initiative for energy security agreed by the G7 energy ministers on 6 May (see statement of 6 May). Leaders will be looking at identifying and implementing concrete domestic policies separately and together to build a more competitive, diversified, resilient and low-carbon energy system. Focus will be put on diversification of routes and sources, upgrading of energy infrastructure, development of indigenous resources and energy efficiency, while reducing greenhouse gas emissions. Clean technology is another important element to this.

Role of the EU: The EU has continuously sought to improve the energy security of its Member States through a variety of policies and actions. Most recently, in response to the crisis in Ukraine and the request by the European Council, the European Commission has tabled a European Energy Security Strategy (see the press release and the MEMO) as a basis for further discussion with Heads of States and Governments at the June European Council. The G7 Energy summit (Rome 5-6 May 2014) has built upon the Commission’s efforts to develop energy emergency plans for winter 2014-2015 at regional level, to exchange best practices for assessing energy security vulnerabilities, for IEA to prepare options for individual and collective actions of G7 in the field of gas security, and to supply technical assistance and facilitate exchanges with Ukraine and other European countries seeking to develop indigenous hydrocarbons, renewables and improve energy efficiency.

On climate change, leaders are expected to reaffirm their commitment to limit effectively the increase in global temperature below 2°C above pre-industrial levels and express their strong determination to adopt in 2015 a global agreement, ahead of the Climate Summit of the United Nations General Assembly in September and the upcoming COP2015 in Paris.

Role of the EU: the EU continues to pioneer global climate action thanks to its ambitious and legally binding framework. It remains fully committed to a multilateral legally binding approach to tackling climate change and to reshape the global climate agenda, working towards the UN climate conferences in Lima in 2014 and in Paris in 2015. The EU is on track with its domestic preparations on an ambitious 2030 climate and energy framework. The European Heads of State and Government agreed to take final decision on this as quickly as possible, and no later than October 2014, which means that the EU would be ready for the first quarter of 2015 at the latest.

Significant financial resources are mobilised to help developing countries deal adequately with climate change, with substantial co-benefits in terms of energy security. For example, the EU has allocated 400 million EUR to promote access to sustainable energy for all (SE4ALL) in Africa, building on the ACP-EU Energy Facility and the EU-Africa Infrastructure Trust Fund.

The European Union is the largest contributor of climate finance to developing countries and the world's biggest aid donor, collectively providing more than half of global official development assistance (ODA). The EU and its Member States pledged €7.2 billion in "fast start" climate finance over 2010-2012, almost one-third of the total pledged by developed countries. Despite difficult economic circumstances, the EU met and even surpassed its commitment by providing €7.34 bn in fast start finance. This money is being spent on concrete climate actions in developing countries.

Climate change is being increasingly integrated into the EU's broader development strategy. 20% of the resources dedicated to international development aid from the new multiannual financial framework of the EU as well as 20% of the 11th European Development Fund for the period 2014-2020 are to be allocated to climate-relevant actions.

More info on 2030 climate and energy goals for a competitive, secure and low-carbon EU economy.

4. Development

Finally, the Thursday 5 June working lunch will be devoted to development issues with a view to taking stock of progress and reconfirming previous G7 commitments, such as the Muskoka initiative on maternal, new-born and child health, the GAVI alliance (global alliance for vaccines and immunization), the New Alliance for Food Security and Nutrition, the Deauville Partnership, tax evasion and illicit flows of finance.

Role of the EU: Despite the economic and financial context in Europe, the EU remains the biggest donor in the world – more than half of global development aid is provided by Europeans: Over the last ten years, the EU and its Member States have committed around 45 billion euro per year to development aid. This support has paid off: since 2004, the EU has contributed to the enrolment of more than 13 million boys and girls at school, to the vaccination of around 18 million children and to providing more than 70 million people with access to water around the world.

Food security remains in the centre of the EU's development policy. Since 2013, the EU has stepped up its efforts to fight against world hunger, food insecurity and malnutrition, with a new policy framework that delivers on the EU's commitment to help partner countries reduce stunting amongst children under five years of age by at least 10% (7 million) by 2025. Under-nutrition will also be contained through investment in rural development, sustainable agriculture, public health, water and sanitation, social protection and education.

On 20 May, the EU announced that it will provide €25 million per year in the period 2014-2020 to fund vaccines and immunisation programmes worldwide through the GAVI alliance – more than double than previously committed. Since 2003, the European Commission has committed over €83 million to the GAVI Alliance, coming in part from the Development Co-operation Instrument (DCI) and in part from the European Development Fund (EDF). Thanks to donors like the EU, close to half a billion children have been immunised since 2000, resulting in 6 million lives saved.

The leaders will also discuss the post-2015 agenda aiming at completing unfinished business of the Millennium Development Goals. This would include a focus on eradications of extreme poverty, promoting development and on balancing environmental, economic and social dimensions of sustainable development, including climate change.

Role of the EU: the Millennium Development Goals (MDGs) remain at the core of EU development policy and actions. The EU has implemented the 1 billion euro MDG initiative, launched at the 2010 MDG summit, targeting the most off-track MDGs: hunger, maternal health, child mortality and access to water and sanitation. The EU supports nearly 70 actions in 46 countries, with a focus on Least Developed Countries.

On 2 June 2014, the European Commission adopted a Communication to contribute to the EU position in international negotiations on Sustainable Development Goals (SDGs), as the follow-up to the Millennium Development Goals (MDGs). The proposal calls for tackling issues of global concern such as poverty, inequality, health, food security, education, gender equality, water and sanitation, sustainable energy, decent work, inclusive and sustainable growth, sustainable consumption and production, biodiversity, land degradation and sea and oceans. It will now be discussed by Council of Ministers and the European Parliament and the outcome will guide the EU's position in the negotiations at UN level.

5. The EU as G7/G8 member

The European Union is a full member in G7/G8 Summits and is represented by the President of the European Council and the President of the European Commission.

In 1977, representatives of the then European Community began participating in the London Summit. The first G7 summit was held two years earlier, in 1975 in Rambouillet (France). Originally, the EU had a limited role to those areas in which it had exclusive competences, but the EU’s role has grown with time. The European Commission was gradually included in all political discussions on the summit agenda and took part in all summit working sessions, as of the Ottawa Summit (1981). Commission President Barroso, who attended the G8 for the first time in Gleneagles in 2005, is participating for the 10th time, while Council President Van Rompuy has been attending the G8/G7 since the entry into force of the Lisbon Treaty (2009).

The Commission and the European Council have all the responsibilities of membership. The Summit Communiqué is politically binding for all G7 members.

The Presidency will continue in its rotation to Germany in 2015 (Summit 4-5 May 2015), Japan in 2016, Italy in 2017, Canada in 2018, France in 2019, and the USA in 2020.

Useful links

G7 2014 section on President Van Rompuy's website:

http://www.european-council.europa.eu/g7brussels

G7/G8/G20 section on President Barroso's website:

http://ec.europa.eu/commission_2010-2014/president/g20/index_en.htm

President Van Rompuy on Twitter and on Facebook

President Barroso on Twitter

Full video coverage of the G7 will be available for download in broadcast quality from the Council TV newsroom www.eucouncil.tv, and live events will be broadcast on Europe by Satellite (http://ec.europa.eu/avservices/ebs/schedule.cfm ) Photos covering the event will be available for download in high resolution from the Council Photo Library http://www.consilium.europa.eu/photo and the European Commission's audiovisual services (http://ec.europa.eu/avservices/photo/index.cfm

Source
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Tuesday, June 02, 2009

Economic Turmoil to Economic Takeover




Dear Friends,
Thank you for joining us this month. We at Keep the Faith Ministry are very thankful for your prayers and support. It means so much to us and to the Lord when you support the presentation of truth. Thank you for listening. May God help you as you plan for the future in light of the issues that face God’s people in these last days. We truly live in amazing times.


I want to again urge you to check out our website on a frequent basis so that you can read up on the most recent information concerning current prophetic developments. Moreover, I urge you to tell your friends about their very own free subscription to our monthly sermons on CD that is just waiting for them. Many people are just discovering the wealth of information contained in the little CD preachers from Keep the Faith.

Before we go to our study of prophecy this month, we need to understand that Jesus is looking after His church. He is looking after His faithful people. The good news is that if you are following His counsel and you have a daily walk with the Lord, you can be sure that Psalm 91:1, the heavenly 911 will be your sure and certain safety. You will be under the shadow of the Almighty.
I have said it before; because the global economic crisis continues to deepen and broaden and is affecting every nation on the globe we are going to see a dramatic change in the way the world functions economically. With the huge banks and multinational companies on life-support, forces are now coming into play that will overturn the existing order. There is nothing you can do about the changes except to prepare for it by following God’s counsel. The world as we know it presently is going to end. No, I’m not referring to the second coming. That is going to end the world too, and permanently, but that is later. Right now, the world as you know it is going to end. There is going to be a systematic and systemic change in the way the economy works.
I want to advise you that the things you will hear in this month’s message are not only real, but they are imminent. You need to prepare your hearts for the coming dramatic changes in your lifestyle and way of doing business. Now is the time to make your calling and election sure. Remember that the greatest conflict that has ever engulfed the world and consequently God’s people is soon to come. But first world economies must be brought under control by a few key people and institutions. This sermon is unusually documented. You’ll find that documentation on our website. Click on the sermons link, then click on this sermon and as you scroll down the text you’ll see the links at appropriate places throughout it.


Isaiah chapter 2:20 tells us that those that have made money their idol will cast it aside as worthless. “In that day a man shall cast his idols of silver, and his idols of gold, which they made each one for himself to worship, to the moles and to the bats…”

Furthermore, Revelation 18:15 says that the merchants of the earth, that is; the central bankers and those who control economies, are made rich by their cooperation with the Holy See. They are bold and corrupt. I have never in my lifetime seen such boldness among the merchants of the earth, as those dealing with the economic crisis. They boldly play with your money and spend your future. They boldly give billions of dollars to failing companies whose leaders were boldly taking advantage of circumstances and human nature by making risky loans and investments. Now they are getting their pockets lined with more money by government bailouts at taxpayers expense. They channel some of those bailouts into bonuses for themselves. Also, one company buys out another, and the resulting consolidation puts more power and control in the hands of fewer and fewer people, all in the name of solving the economic crisis on your behalf.


Moreover, governments, particularly the U.S. government, but also Iceland, and many European governments have been systematically nationalizing banks and major industries so that more power is centralized again.

Look at what Isaiah 23:8 says about the papacy and these bankers. “Who hath taken this counsel against Tyre, the crowning city, whose merchants are princes [that’s Rome’s priestly bankers], whose traffickers are the honorable of the earth? [That’s the global central bankers and economists].” I bet some of us never thought that this could be referring to those that control and manipulate earthly finance.

Rome’s merchants, my friends, are priests, or princes of the church who are in league with those same merchants who are the honored central bankers of the earth, like Henry Paulson, and now Timothy Geithner, Alan Greenspan and Ben Bernanke. Yes, they have fallen upon some criticism in recent times, but they are still honored and given almost free reign over the economy. But they are the front line. They are supposed to get criticism. There are others behind them, such as the Rothchilds, Rockefellers, and others who are immune to it, but have a lot of say about how things turn out.


Isaiah 47:15 again speaks of Rome when she is destroyed; “thus shall they be unto thee with whom thou hast labored, even thy merchants, from thy youth: they shall wander every one to his quarter; none shall save thee.”


Revelation 18:15 says something similar; “the merchants of these things, which were made rich by her, shall stand afar off for the fear of her torment…” They won’t help Rome when God finally undoes all that Rome has tried to do.


Now I’m going to read to you a most powerful statement from the Spirit of Prophecy that brings us up close and personal. It’s from Evangelism, page 62 and 63. Ellen White is addressing the stinginess of God’s people concerning the work of God, but she makes a startling prediction that is now in the process of being fulfilled. Listen to it carefully.


“Men will invest in patent rights and meet with heavy losses, and it is taken as a matter of course. But in the work and cause of God, men are afraid to venture. Money seems to them to be a dead loss that does not bring immediate returns when invested in the work of saving souls.” Now here comes the startling part: “The very means that is now so sparingly invested in the cause of God, and that is selfishly retained, will in a little while be cast with all idols to the moles and to the bats. Money will soon depreciate in value very suddenly when the reality of eternal scenes opens to the senses of man.”


I’m going to make a prediction that I am now confident is close to being reality. Some aspects of this I have been very skeptical about until recently, but not anymore. I have come to this conclusion after reading widely concerning the ongoing financial crisis and the actions of world leaders concerning the solution. Here is my heart pounding prediction. We are at the end, or nearly so, of the western economy as we know it. Moreover, the financial restructuring that is going on globally is going to change your life drastically. It will be forced on you whether you like it or not. Listen carefully. We are likely going to see a rapid devaluation of western currencies, just as God’s messenger predicted, and the revaluation of assets, or rather the re-inflation of assets under a new regionalized set of currencies. Let me say that again in a different way. We are going to see the devaluation of money, then a change in currency (which will make most people poorer) then a revaluation of tangible assets like real estate, so that those who have money to invest, or the rich, can make themselves richer by buying them cheaply before they are re-inflated. This has happened before in many countries, but it is now going to happen on a very broad scale among western countries, especially in the northern hemisphere. This is not about solving your economic problems. It is about consolidating power and money.
Just listen to the breathtaking statements of world leaders, the “kings of the earth,” and the bankers, or the “merchants of the earth.” After the Group of 20 (or the G20) economic summit in London in April, Gordon Brown, Prime Minister of Great Britain announced that the ‘old Washington consensus’ had come to an end. “I think a new world order is emerging with the foundation of a new progressive era of international cooperation.” he said.


In other words, Gordon Brown is saying that from now on Washington will no longer be able to use the U.S. dollar to dictate to the world what is going to happen in world economy. Instead the economy is going to be globalized and controlled by internationalists.


Among the ominous decisions that came out of the G20 meeting is included a “common approach to managing ‘toxic assets’ [which is the term they use for bad investments], radical reform of the banking system, [and] new regulatory systems…” wrote the Melbourne Age. What do they mean by the “radical reform of the banking system?”


Nicolas Sarkozy, the president of France said that “since Bretton Woods, the world has been living on… [an] Anglo-Saxon model,” meaning American and British of course. “It’s not my place to criticise it,” he said, “it has its advantages – clearly, today, a page has been turned.”
Angela Merkel, the German Chancellor said: “[The G20 meeting] is a victory for global co-operation… The things that got us into this crisis are not allowed to be repeated…”


Merkel is talking about the way that the U.S. banks and Wall Street worked together to create a global economic bubble especially in real estate. Essentially banks all over the world were loaning money to finance gambling on Wall Street and other stock markets and in the real estate market. Banks worldwide and stock markets followed the U.S. example and now they are also following the economic fallout in the U.S too.



But Sarkozy, Merkel and Brown were essentially repeating what they had said a few months before. In November, Sarkozy declared, “We must rethink the financial system from scratch, as at Bretton Woods…” and “we want to change the rules of the game,” while Merkel believes that the global financial markets need a “new constitution” to govern them.


Bloomberg News Article
Gordon Brown said we need a “new Bretton Woods,” “a new global order” and a “global new deal” to address the economic crisis. “We face a choice,” he said. “We could allow this crisis to start a retreat from globalization… or we could view the threats and challenges we face today as the difficult birth-pangs of a new global order – and our task now is nothing less than making the transition through a new internationalism to the benefits of an expanding global society.


Before we go any further we need to understand what these world leaders mean when they talk about another Bretton Woods. Bretton Woods is the town in the U.S. state of New Hampshire where an important economic meeting took place at the Mount Washington Hotel back in July of 1944.


After World War I considerable global financial instability arose because most nations were now off the gold standard. Nations could now create money out of thin air without any gold backing. Consequently they could inflate or contract their economies by controlling the money supply. This led to tremendous volatility and a global recession in between the two World Wars.
Toward the end of World War II, financial elites of the 44 allied countries gathered in New Hampshire for one of the most significant meetings the world had ever seen up to that time. Officially called the United Nations Monetary and Financial Conference, it is now remembered as Bretton Woods. The job of this elite group of financial gurus and national delegations was to create a mechanism to minimize currency instability and fight recession. Never before had international monetary cooperation been attempted on a permanent institutional basis. Their agenda included the creation of a global currency, and an international monetary fund to regulate it (known today as the IMF), a global body to regulate trade (which eventually became the World Trade Organization), and an international bank to provide loans to needy countries (which eventually became the World Bank).


All of the attendees were in agreement that an international overhaul of the global financial system was needed, and that it should be under some kind of government controls. Interestingly this was going on at the same time that a new political order was arising through the United Nations. In essence they hammered out a new system of global economy that laid the foundations of the financial order that persisted until the early 1970s when a financial crisis led to the collapse of the Bretton Woods system.

Up to the time of Bretton Woods, the British Pound was the major currency because Britain had been the sole global superpower. The Bretton Woods agreements provided that each country peg its currency to gold. But almost all the nations were not on a gold standard. Since the United States was the only nation that still had gold backing its currency, the U.S. dollar became an almost ideal substitute for gold and achieved great credibility. The Bretton Woods agreements resulted in the U.S. dollar becoming the currency to which all other currencies were, in practicality, pegged. As a result, the United States in essence became the money manager of the world and could manipulate it to its own advantage. That is why there is a strong feeling among world leaders that the system needs to change. They don’t like being at the mercy of the U.S. Federal Reserve.


The signers of the Bretton Woods agreements were essentially the architects of the way the global financial system has worked more or less for the last 60 years. The financial crisis in the 1970s destabilized the Bretton Woods agreements when the United States left the gold standard and no longer backed its dollars with the precious metal. However, because the U.S. dollar was still the main reserve currency, the U.S. was positioned to continue dictating monetary policy on a global scale through the Federal Reserve. The Federal Reserve used the respect and confidence in the dollar to manage, or rather manipulate the global economy. When the U.S. loosened things up, so did the rest of the world. When the Federal Reserve tightened monetary policy, so did the other nations more or less.



Now that is all changing. The economic crisis that has been fostered by the loose monetary policy of the Federal Reserve has spread around the world in wave after wave of bankrupt banks and financing corporations, faltering industry and commerce and teetering governments. Germany’s Finance Minister Peer Steinbrueck, likened it to a “poisonous oil spill,” and said that “the global financial system will become multipolar.” That means that it won’t be dominated by the U.S. dollar. The call for another Bretton Woods is nothing short of a global attempt to radically restructure the way the world does business and wrest the financial power from the United States and put it in the hands of internationalist bodies, essentially globalizing banking and finances. This does not threaten the Federal Reserve. It is not accountable to the political system of United States. The Fed itself is led by internationalists who want globalization of banking and finance, and is no doubt working to bring about the new global financial structure.



Now for more statements of world leaders. At the World Economic Forum, in Davos, Switzerland in February, Russia’s Prime Minister Putin said that “Excessive dependence on a single reserve currency,” meaning the U.S. dollar, “is dangerous for the global economy.” Putin also suggested that the International Monetary Fund should issue the reserve currency rather than allowing one country’s currency to be the international reserve currency.



Josef Ackerman, the Chief Executive Officer of Deutsche Bank, and the chairman of the Institute of International Finance, said about the G20 London meeting in April that the “benefits of a global financial system is absolutely key” to global recovery and stability. “To retreat from [the] global approach would in my view” he said “be a step in the wrong direction, even if understandable from the point of view of national governments and taxpayers.” In other words, he was saying that it doesn’t matter what taxpayers think, or the national interests of individual nations. Globalism is now going to bring the world economy under its control. Keep in mind the reasons why globalists want this. It will help them globalize politics easier. But there is an even more important reason prophetically speaking. Without globalized economics and politics, there can never be globalized religion.


Furthermore Ackerman said “If we go back to a bank-based approach – traditional, old-fashioned lending – that would require much more capital, which is clearly not available, and would have a very negative impact on global growth,” he said. In other words, traditional banking is now likely to change as a new global system emerges.


Alistair Darling, the British Chancellor of the Exchequer, even went so far as to say that governments should not “waste time talking about [their] constitutions.” In other words, nations will be pressured to join and cooperate with the global financial coalition no matter what their constitutions say about independence. As more money and power is in the control of fewer hands, nations will lose much of their sovereignty. The result will be that these global bankers will be able to reach down past national boundaries right down into your life, which is going to be more controlled than ever. Your government will not protect you from them.



The week before the G20 summit in London, China, which had kept a low profile during the crisis up to that time “dropped a bombshell,” wrote the Financial Times. Zhou Xiaochuan, the governor of the central bank, in an essay in The People’s Daily, the official newspaper of the Chinese Communist Party, publically called for a replacement for the U.S. dollar as the world’s reserve currency. “Mr. Zhou argued,” said the Financial Times, “that the costs of maintaining the current system in which the [U.S.] dollar dominates, surpassed the benefits… The world urgently needs to create a diversified currency and financial system and [a] fair and just financial order that is not dependent on the United States,” he said, as he warned of the threat of a “financial tsunami” and the need for a new global currency system controlled by the International Monetary Fund.”



Mr. Zhou’s argument is that because the U.S. dollar has been the world’s reserve currency, other nations parked a lot of money in U.S. funds [China having the most], thereby financing the U.S. economy. The Federal Reserve, the U.S. central bank, was able to pursue an irresponsible policy of keeping interest rates too low and thereby inflating the housing bubble. This also increased other nation’s vulnerability to an economic downturn in the U.S. By moving away from the dollar as the reserve currency, Mr. Zhou suggested that it would stabilize world economy. Mr. Zhou is advocating that the International Monetary Fund should expand its use of SDRs, or “Special Drawing Rights.” SDRs [which are essentially] a synthetic or artificial currency issued by the International Monetary Fund, were created by the IMF in the 1960s as a means of providing the nations of the world with an independent reserve currency, but it was never really used that way because the dollar was so respected. SDRs have merely been an accounting tool the IMF uses to keep track of its loans to various nations.



Not surprisingly even the United Nations is getting in on the wave of official enthusiasm for a globalized economy. In March a special UN Commission recommended that the dollar be replaced as the world’s reserve currency.




The UK Telegraph reported on a communiqué published after the April G20 meeting in London. “A single clause in Point 19 of the communiqué issued by the G20 leaders, amounts to revolution in the global financial order,” the Telegraph said. “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,” the communiqué said.


The Telegraph continued; “in effect, the G20 leaders have activated the IMF’s power to create money” in it’s attempt to stem the crisis. “In doing so, they are putting a de facto world currency into play,” said the Telegraph. “It is outside the control of any sovereign body… There is now a world currency in waiting. In time, SDRs are likely [to] evolve into a parking place for the foreign holdings of central banks, led by the People’s Bank of China…”

Just before the G7 meeting in Washington last November, Gordon Brown gave a speech before the Council on Foreign Relations. He said “I have no doubt that out of the discussions we are having… we’ll have an international financial monetary fund that looks more like an independent central bank.” In other words, the G7 is working on adjusting the IMF so that it functions like a global independent central bank complete with power to create money.



The implications of this are powerful. Imagine a world currency that replaces your Pounds, Euros or Dollars of whatever variety. This in effect would centralize control of all the world money under a small body of people that have no accountability other than to themselves.
Do you think Ellen White was talking about something like this when she said: “In the world gigantic monopolies will be formed. Men will bind themselves together in unions that will wrap them in the folds of the enemy. A few men will combine to grasp all the means to be obtained in certain lines of business…” That’s Selected Messages, Volume 2, page 142.


If ever there would be a giant monopoly, it would be a world currency. If ever there were a grasping for all the means in certain lines of business like banking and finance, this would be it. And through the financial system everything else is controlled; every industrial steel manufacturer, every car manufacturer, every airline, every food processor, every farm, every pharmaceutical company, every hospital… You name it, it is about to come under the full control of a few global bankers and world money managers. But look what it is doing. According to God’s messenger to the remnant, it is wrapping these men and millions of people in the folds of the enemy.


Frankly, I’m not yet convinced that a single world currency is going to happen very soon, at least not a currency that you and I would use in our day to day business. But there are secret meetings going on behind the scenes that are framing the new economic world order right now into regional currencies. I suspect from what I have read that there is going to be three to six regional currencies pegged to the new global shadow currency, or the “synthetic currency known as SDRs at the IMF. You won’t use the SDRs in your daily transactions at the grocery store, but they will control everything behind the scenes through the policies of the International Monetary Fund, the World Bank and other global institutions. We get little glimpses of what is being planned by paying attention to the language of those on the inside; those who are the architects of the new economic order.



Perhaps the most pointed statement came from Ewald Nowotny, a European Central Bank council member, who added a shocking revelation to the idea of moving away from the “centrality of the U.S. dollar.” He revealed that the U.S., Europe, and Asia are developing a “tri-polar global currency system” to replace the current dollar-centric reserve structure. “What I see” he said, “is a system where we have more centers of gravity…”



Think about what he said very carefully. What is a “tri-polar global currency system?” This was actually a patently clear statement of what is going on behind the scenes in those secret meetings. The United States, Europe, and Asia are secretly developing a three-currency system to replace the current U.S. dollar that countries keep as reserves. ”What he said was that behind closed doors, and in the backrooms of the leading economic powers of the world, and perhaps in and around these G group meetings in Davos, Washington, Rome and London, there are negotiations going on to radically revise the economic system of the entire world. This cannot be good for your pocketbook. Replacing currencies has always been at the expense of the average citizen by giving him less buying power in the exchange. While helping governments pay their debt at a significant discount because of the deflation. Therefore it is always in a government’s interest to deflate a currency value because it helps cover excessive government spending.
Ewald Nowotny said, along with quite a number of others, that the [U.S.] dollar will lose its position as the world’s reserve currency. He also said that the three currencies will be coordinated so that world economy will be balanced by “three centers of gravity” in the U.S., Europe and Asia, though he did not think that the exchange rates would be fixed. Perhaps I should warn you that this means that your cash will be of little good to you soon. It will be replaced and you will be less wealthy. This would be the time to get your money into God’s work and to make sure that most of what is left is tied up in real assets like your home.
No doubt much of this had already been hammered out long before the G20 summit in London. There have been many “G-meetings” to strategize and set the course for globalizing earthly finances. Once the Group of seven, or the seven largest economies known as the G7, met in Washington DC in October, 2008 to create a roadmap, they followed with a G20 meeting of the 20 largest economies of the world in Washington again, to get their cooperation. Then, as you would expect, the G7 or the seven leading merchants of the earth, gathered in Rome in mid-February 2009 to plan for the London G20 summit in April.


I wonder why they met in Rome besides to plan for the upcoming meeting in London. Perhaps they needed to bring the Vatican up do date on the planning and explain what they doing and seek advice. We don’t know for sure, but the Bible tells us that these merchants are in league with Holy See in their economic dealings. Zenit reported that the Vatican Secretary of State Tarcisio Bertoni sent a message to the G7 while in Rome urging them to put “the person before profit” and respect the rights of workers. No doubt these leaders are in contact with the Vatican on a regular basis. Incidentally, the Rome meeting was also attended by leaders of trade organizations, the World Bank, the IMF and Russia as observers.



The Vatican had already been involved in the process. On February 19, Gordon Brown, Britain’s Prime Minister and the host of the upcoming London summit, flew to Rome and met with Benedict XVI to discuss with him the economic crisis and their plans for globalizing it. No doubt the Vatican is very interested in this process for its own reasons. The prophetic meeting with the pope is the fourth of a British Prime Minister in six years, and was in conjunction with Mr. Brown’s meeting with Silvio Berlusconi, the chairman of the G7 at the time. Brown accompanied his visit with an invitation for Benedict to visit the UK. Papal cooperation in the economic solution is so important that the UK Telegraph said that the Prime Minister was going to Benedict to “seek divine guidance as he presses ahead with efforts to tackle the economic crisis.”
Following their meeting in Rome, Benedict and Brown exchanged letters in which they affirmed their commitment to wealth redistribution in order to help the poorest countries among other things. Then just before the London summit, on March 31, Brown “preached” a sermon on the morality of the economy at St. Paul’s Cathedral, in London before 2000 people. Never before had a Prime Minister spoken in historic St. Paul’s. Brown quoted scripture and used religious terms in calling for a new world order based on moral and ethical principles. Echoing Benedict’s emphasis on the dignity of the person, he emphasized that “market forces should be replaced by those of the ‘heart.’” He was joined by his Roman Catholic counterpart Kevin Rudd, Prime Minister of Australia, for a public discussion moderated by the Anglican bishop of London.



The Bible tells us that the leaders in this economic process are working with Rome and other churches to accomplish their purposes. They know that in a time when people are upset by a crisis, success of their plans can only come if they cooperate with religious powers led by Rome because Rome has enormous social and economic influence. That is one of the reasons they have meetings in Rome and private meetings with the pontiff. They know that if they talk in moral and religious terms, religious people are more likely to support their centralization of power. They know that if they help Rome, Rome will help them.


There were other planning meetings to prepare for the G20 summit in London, such as a G20 meeting in Berlin in late February and the ASEAN group, or the nations of Southeast Asia who met at the end of February to discuss the upcoming summit. By the time the London meeting began, the plans for economic globalization would have been quite mature and well communicated. After the London meeting, in which the nations agreed to have their economies overseen by the IMF there was planned a summit for the Asian nations, the intent of which would have been to bring all the Asian nations into harmony with the new economic order. But the ASEAN economic summit in Thailand was disrupted by protesters forcing the attendees to flee the meeting place. Perhaps the angels were holding back the process and thereby the winds of strife.



Globalizing the economy and banking while regionalizing currency into three major areas is not an easy task and no doubt will take many more meetings. But the fundamental principles are probably already in place and will just take time to work themselves out. You and I will see dramatic changes over the next few years in which this new globalized administration will regulate everything from banking policies to accounting standards, and even executive compensation. In the long run the new globalization of the economy will certainly shift wealth away from developed nations to developing ones. It is all spelled out in the communiqué from the G20 meeting. You can read it by going to our website and clicking on the appropriate link in the text of this sermon. Forget about banking secrecy. Tax havens will disappear. Every banking transaction will be transparent. Every transaction can potentially be controlled.
Friends, to put this prophetically, if there is going to be a global no-buy-no-sell law, as predicted in Revelation 13:16, there has to be transparency of all transactions. Terrorism first and now the economic crisis are the justifications for establishing a system that will eventually be used to enforce universal Sunday worship laws by preventing those that do not participate in them from buying or selling.



My friends, this is, in essence, the final, or near final centralization of the global economy in the hands of the bankers and global merchants. The bottom line is that the current economic crisis is being used as a means of taking economic power away from the United States and handing it to international bodies that would then manage it for all people of the world in classic socialistic globalism. Of course, the United States has not been a sterling example of fiscal responsibility, and now has no defense. But with the dismal track record of the UN, the World Bank and other international bodies to adequately manage political issues, what makes them think that similar international bodies controlling the whole world economy will be devoid of political agendas or vested interests?


Let us put this into the prophetic context again. Revelation 18 tells us that the merchants of the earth are working closely together with the Holy See to make themselves rich, while at the same time making Rome more powerful. There is no doubt in my mind that the new centralized economy and currencies will benefit Rome and these world economic controllers. While they tout the need for this new system because of the economic crisis, and to help poor nations, they are the very ones that to a large degree have created the crisis by loosening standards and oversight so that banks and other financial institutions in the western world could take advantage of human nature.


Remember that the love of money is the root of all evil. The economic crisis is largely the result of human nature’s ability to make use of an opportunity for personal enrichment at the expense of others. When this is done on a global scale, it ultimately leads to a global instability and an international economic crisis much like we have seen over the last couple of years.


Listen to this statement from the UK Telegraph: “The real sticking point of the new system is the set of ‘new rules aimed at avoiding excessive leverage [or debt], and forcing banks to put more money aside during good times,” said the Telegraph. “This is more or less what the authorities agreed after the Depression. [But] complacency chipped away at the rules as the decades passed. It is the human condition, and we can’t change that.”


So it is no surprise that given a loose environment for profiteering, human nature will exploit the opportunities leading to a cycle of risky investments, bubbles and then contractions in the economy. But the common solution presented for all these “crises” is more centralization of control, more globalism, more internationalism. Eventually the whole mess will be considered to be a moral crisis that only religious and moral austerity can resolve.


Listen to what the Vatican is saying about the economic crisis. “The current economic crisis,” said Pope Benedict XVI, “shows the importance of building our lives on the firm foundation of the Word.” Given Rome’s definition of the firm foundation of the word, which means papal interpretation of the word, or in more precise terms, papal pronouncements and canon law, Rome is patently attempting to put her own moral spin on the crisis and its solutions.
Concerning the UN sponsored Doha economic conference for financing developing nations, November 20 – December 2, 2008, in which representatives of 160 nations were present, the “Bishop of Rome praised the identification of ‘helpful criteria for directing the governance of the economic system and helping those who are most in need…’” wrote Zenit a Vatican news agency. “On a deeper level, bolstering the economy demands rebuilding confidence,” the pope said. “This goal will only be reached by implementing an ethics based on the innate dignity of the human person.’”



What Benedict is saying is that solutions to the economic problems of this world involve moral principles which Rome continues to position herself to define. But the following statement is the clearest concerning Rome’s support for a new system of economic governance. “The roots of the economic crisis point to the need for a new international structure, say [the] bishops of Latin America… Globalization, should abide by ethics, placing everything at the service of the human person created in the image and likeness of God.” This statement is a thinly veiled attempt to suggest that the Catholic Church should be recognized as the moral authority by which the ethics of the global economic system should operate.



So Rome is calling for a change in the global economic order too. But Rome wants more than just a new monetary system. Why would the Holy See want to see a new world order of economics? The Bible tells us that Rome is master of the economy. She gets these merchants of the earth involved with her behind the scenes. Rome is very shy about openly discussing her economic relationships. She will openly discuss her ecumenical relationships and many of her political relationships to some extent, but her economic relationships are a matter left largely to the imagination. But the Bible tells us clearly that in order for the Holy See to have a strong political power, she must of necessity have an economic influence that assists her in this.


Rome urges that religious principles should motivate world economy and politics. Since the economy is what often manipulates politics, she wants more say in economic matters. Her goal is to have the most influence possible on global economy, politics, governments, and the vast millions of citizens. When control of the economy is centralized into a few hands, it is so much easier for Rome to manipulate it, particularly when she has many of her own “merchants” in the seats of power. So the Papacy has an interest in restructuring the economic system. Perhaps she is in the middle of the negotiations. The kings of the earth, and the merchants of the earth give her what she wants, and she gives them what they want. She gets greater power and they get greater wealth.


Think about this in terms of prophecy again. Religion is the third leg of the three-legged stool of prophetic globalism. Once the political world is globalized (and it is well down that road already), and once the economic world is globalized (and this is now being formulated), you can expect that the next frontier of globalization will be religion (and that too has already started through the ecumenical movement). Furthermore, since the economy has become global and political, it is no surprise to students of prophecy that religion will also become political on a global scale. The universal no-buy-no-sell laws to enforce global worship laws cannot happen until every leg of the three-legged stool is in place. There must be economic consolidation on a global scale. That is now in process.


Listen to this statement from the pen of God’s messenger, Ellen White about the wickedness of the world. It is from Testimonies for the Church, Volume 7, page 141. “This earth has almost reached the place where God will permit the destroyer to work his will upon it. The substitution of the laws of men for the law of God, the exaltation, by merely human authority, of Sunday in place of the Bible Sabbath, is the last act in the drama. When this substitution becomes universal, God will reveal Himself. He will arise in His majesty to shake terribly the earth. He will come out of His place to punish the inhabitants of the world for their iniquity, and the earth shall disclose her blood, and shall no more cover her slain.”


Friends, the universal substitution is not yet in place, but the restructure of the economy is rapidly moving us in that direction.


Money is the medium by which people provide the daily necessities of life. Most people work to earn money so that they can provide for their families. But money is the fruit of our labor, which God has given us the ability to earn and use wisely for His cause. It is God’s, and we are the stewards.


My friends, we must now have our priorities straight. Money is to be used to provide our daily necessities and support the spread of the truth. It is not to be hoarded or used in a selfish way. When you are reduced to the barter system because you are faithful to the Lord, you won’t need your money. You need skills to minister to others. If you know how to help people by giving them a hydrotherapy treatment or a massage, they will give you food to eat. Medical missionary work is one of the very last things that can be done to win souls under the pressure of the Sunday laws that are coming upon this world once economic consolidation and control has been fully implemented. But it may well be the means by which God supports His faithful people.
People will eventually see the worthlessness of pursing economic priorities before spiritual things. Either you develop the right priorities now, or you will have them work against you in the future. It is better to be faithful to God now in all things and avoid his wrath in the day of wrath.
Listen carefully to what the apostle James has to say in chapter 5:1-3. “Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days…” Verse 5 says: “Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter…”


My friends, have you been wanton? Has money been your chief motive? Has it become your idol? God has a solution for the idolatry of money and wealth. He has given us the privilege of returning tithe and offerings. Returning tithe to the Lord’s work is the way we show God that we acknowledge His sovereignty over our lives. Offerings show God how much we love Him.
As the global economic system is revised, as currencies are consolidated, as assets are devalued and then re-inflated; and finally as we near the close of probation, James gives us very pertinent counsel in verse 7 and 8 of chapter 5. “Be patient therefore, brethren, unto the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth, and hath long patience for it, until he receive the early and latter rain. Be ye also patient; establish your hearts: for the coming of the Lord draweth nigh.”


To establish your hearts means that you have settled the matter of worldliness, materialism and selfishness in your life. You are precious to Jesus, and He wants to have you as part of the precious fruit of the earth. The really good news is that Jesus is near to coming again. Now is the time to align yourself with the precious principles of heaven and turn from the corrupt principles of this world.





Thursday, April 23, 2009

Global Economy Called Worst Since 1945


Joshua Roberts/Bloomberg News
Olivier Blanchard of the International Monetary Fund.


By BRIAN KNOWLTON
Published: April 22, 2009


WASHINGTON — The global economy will most likely contract this year for the first time since World War II, and the recovery will take longer than expected, the International Monetary Fund said Wednesday.

The I.M.F. projected a 1.3 percent decline in global economic activity for 2009, down sharply even from the modest 0.5 percent growth it had projected in January. In the United States, still the “epicenter” of the crisis, according to the fund, economic contraction would be even greater, at 2.8 percent this year, with zero growth for 2010.

Separately, the Treasury secretary, Timothy F. Geithner, cautioned against expecting a quick recovery, underscoring the complications of the world’s increasingly interwoven economies and financial systems.

“Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through,” he said in a speech before the Economic Club of Washington.

The international fund said that it expected global growth to resume in 2010, but only at a 1.9 percent rate, notably sluggish compared with past recoveries. In normal times, growth would be closer to 4 percent.

“The recovery may actually be slower than usual, leading to a slow decrease in unemployment,” said Olivier Blanchard, director of the I.M.F.’s research department, at a news conference at the fund’s headquarters in Washington. “Our forecasts imply that unemployment will crest only at the end of 2010.”

Mr. Blanchard, in unveiling the World Economic Outlook, said that the United States unemployment rate was likely to peak around 10 percent. It is currently 8.5 percent, after months of relentless job losses. The International Labor Organization has estimated that world unemployment could rise to 7 percent this year, up from about 6 percent in 2008.

“The current outlook is exceptionally uncertain,” said the executive summary of the I.M.F. report, “with risks still weighing to the downside.”

The report was issued as finance ministers and central bankers from around the world were beginning to gather in Washington for the spring meetings of the I.M.F. and the World Bank. On the sidelines of those meetings, officials of the Group of 7 industrialized nations and the Group of 20, an expanded group that also includes the major emerging economies, will meet for continued discussions on the economic crisis.

Even among the details of a largely cautionary report, I.M.F. officials saw some signs of hope, largely because of the forceful fiscal steps and other measures taken by the United States, some European governments, and also by China.

Mr. Blanchard said that the fiscal responses of several major countries had made “a gigantic difference.”

“If there had been no fiscal stimulus across the world, world growth in 2009 would be 1.5 to 2 percent less,” he said. “We would be in the middle of something very close to a depression.”

While saying that “there is light at the end of this long tunnel,” he cautioned against seeing, in mixed economic data, reason for complacency. “The need for strong policies on both the macro and especially the financial fronts is as acute as ever,” he said.

Mr. Geithner said that only 17 of the 182 economies followed by the I.M.F. are expected to grow at faster rates this year than last, and 30 of the 34 advanced economies are expected to shrink, amid a collapse in world trade that “will likely be the worst since the end of World War II.”

Even as globalization speeds the flow of economic benefits in good times, he said, “now we are learning that in times of contraction, globalization transmits trouble with enormous speed and force, affecting economies around the world — the relatively strong as well as the more vulnerable.”


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Monday, February 23, 2009

IMF chief Dominique Strauss-Kahn warns second wave of countries will require bail-out


IMF chief Dominique Strauss-Kahn warns second wave of countries will require bail-out


A "second wave" of countries will fall victim to the economic crisis and face being bailed out by the International Monetary Fund, its chief warned at the G7 summit in Rome.

Edmund Conway in Rome

Last Updated: 9:19PM GMT 15 Feb 2009


Dominique Strauss-Kahn's warning comes amid growing concern that at some point in the next year a major economy could have to seek support from the Fund. Mr Strauss-Kahn, who was yesterday attending the Group of Seven leading finance ministers' meeting in Rome, said: "I expect a second wave of countries to come knocking."

The IMF managing director also said the rich world was now in the midst of a "deep recession". It came as the G7 pledged to avoid slipping into protectionism and repeating the same political and economic mistakes as were made in the 1930s. Ministers also pledged to do more to support their banking systems, sparking speculation that a number of countries, including Germany and France, will unveil new bail-outs and possibly set up "bad banks" as they scramble to fight the crisis.

But with some countries' economies effectively dwarfed by the size of their banking sector and its financial liabilities, there are fears they could fall victim to balance of payments and currency crises, much as Iceland did before receiving emergency assistance from the IMF last year.

Some have speculated that the UK may have to seek IMF support if capital markets become frightened of the size of its foreign financial liabilities, which increasingly appear to have become supported by the state. But there are a swathe of Eastern European countries which appear particularly vulnerable and may need IMF support.

With the Fund's warchest expected to run dry later this year, the Japanese confirmed in Rome that they would supply an extra $200bn of capital to the Washington-based institution.

Mr Strauss-Kahn, who warned recently that his resources could run dry within six months, said: "This is the largest loan ever made in the history of humanity.

"The biggest concrete result of this summit is the loan by the Japanese... now I will continue with the objective of doubling the Fund's resources."

He added that it was now essential for countries to support their banking sectors.


Monday, February 16, 2009

New World Order



New World Order
By Justin Fox Thursday, Feb. 05, 2009

In recent weeks, the world has been politely standing by and watching how things play out with the fiscal stimulus and latest bank-bailout plans in Washington. Yes, there's been some grumbling overseas about "buy American" provisions in the stimulus bill, but for the most part, officials elsewhere don't want to step on the toes of a new President to whom they are favorably disposed. They also don't want to endanger legislation that they hope will help jump-start the global economy.

Just wait a couple of months, though. Politicians from Beijing to Berlin to Brasília see the current crisis as the product of a messed-up global financial infrastructure dominated by the U.S., and they will soon be pushing for big changes--whether Americans like them or not.

All this will begin to gel on April 2, when the newish international organization known as the G-20--the leaders of 19 of the world's biggest national economies, plus the European Union--meets in London. An unofficial meeting has already taken place, at the World Economic Forum in Davos, Switzerland, where G-20 officials (with the conspicuous exception of those from the U.S.) made speeches, conversed in the halls and gave a sense of the direction in which the world outside the U.S. wants to head. (Read TIME's special report on Davos 2009.)

The global discussion of the financial crisis is strikingly different from the one in the U.S. Here there's still something of a debate over whether the mess is the result of too much government interference in the housing market or too little government regulation of financial markets. In the rest of the world, that's no debate: inadequate and inconsistent financial regulation is uniformly blamed. What's more, a consensus seems to have emerged among the world's finance ministers and central-bank bosses that the chief underlying cause of the crisis was an unbalanced and out-of-control system of global capital flows in which some big-spender countries (namely the U.S.) ran up huge debts while big savers (China and India, for example) hoarded surpluses.

On the regulatory front, the path to a new global approach is pretty clear. Last spring the leaders of the G-7, a club of wealthy nations, agreed to create a "college of supervisors" to more closely coordinate regulation of multinational banks. The Group of Thirty, an influential organization of current and former central bankers and financial regulators, recommended in January that "systematically significant" financial institutions (those that are too big to fail) be identified in advance and subjected to higher capital requirements and tougher regulation. (See who's to blame for the financial crisis.)

Yet regulators around the world were already jointly setting bank-capital standards before the current crisis hit. A lot of good that did us. So there is also much talk about the need for a new architecture--"a new Bretton Woods" was a phrase that echoed around Davos--to rein in global financial flows.

Bretton Woods is the mountain resort in New Hampshire where in 1944 the Allied nations met--with the U.S. calling almost all the shots--to plan a postwar financial system. The Bretton Woods creations included the International Monetary Fund (IMF), the World Bank and a quarter-century of fixed exchange rates built around a U.S. dollar that was linked to gold. The fixed exchange rates and gold standard unraveled in the 1970s, and ever since we've had a system in which the IMF occasionally steps in to help countries in currency crises (usually imposing harsh terms in the process) but exercises no real control over the global financial system.

After the emerging-market currency collapses of the late 1990s, in which IMF aid wasn't much help, the lesson that emerging economies such as China and India took was that they needed to build up gigantic reserves of U.S. dollars to protect their currencies. To build those reserves, they ran big trade surpluses, which were in turn enabled mainly by record trade deficits in the U.S., which were in turn enabled by massive borrowing from around the world. It was an extremely unbalanced financial ballet, and it has now come crashing to the ground.

In the view of many outside the U.S. (and some within), the only way to limit such excesses is through a bigger, more powerful IMF that can act as a central bank to the world--and knock heads when needed. While everybody agrees that this new IMF needs to be less dominated by the U.S. and Western Europe, things get controversial as soon as you go past voting rights. Should capital flows be restricted? Should there be limits on trade deficits and surpluses? Should the IMF be able to order around even the U.S.? If the answer to any of these questions is yes, global capitalism will have entered a new and dramatically less freewheeling era.

To read Justin Fox's daily take on business and the economy, go to time.com/curiouscapitalist

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Source: http://www.time.com/time/magazine/article/0,9171,1877388,00.html
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