- Last year, Oxfam said billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over
- The report is timely as the global political and business elite gather in snow-clad Davos for the World Economic Forum’s annual meeting this week more …
Opinion: The wealth gap got turbo-charged in 2008-9 during the worst economic crisis since the great depression, as the Federal Reserve bank began an experiment called Quantitative Easing (QE).
The Fed under Ben Bernanke, with the help of George Bush and Barack Obama, pulled off the greatest wealth builder of all time while the world worried that all was lost.
QE definition: Central banks create money – give it to banks – banks buy stocks and bonds, and wham-o the rich grow much, much richer.
Fast forward to 2018: The stock market and real estate markets are flying high, while a cryptocurrency craze has baffled investors as sophisticated as Jamie Diamon, who called it a fraud, and is now changing his mind.
Cryptos are a symptom of the signs of the times. While QE created over $12 trillion of fake money globally, Bitcoin has a limited issuance.
The public has lost faith in paper money and according to Bible prophecy it will be gone, so that a global government will be in control of every transaction (Revelation 13:16-17).
Every dollar, Euro, and Yuan created as stimulus has eroded the value of money in existence, making everything more expensive and causing the middle class to be poorer, the lower class more dependent. The mega rich, however, watched their wealth grow so fast that rising prices were meaningless.
Now the US central bankers want to unwind the mountain of debt they created, which has never been done before either. The problem is that, with all the stimulus, it is possible the Fed could have over-ignited the economy and inflation could get out of control.
The interesting part is how few people see the fulfillment of prophecy in this. If we have the sequence of events right, a lot will happen before the collapse:
Note: We can speculate that the church could be on earth for all or part of Ezekiel’s war. However, the church will necessarily be gone before Antichrist is revealed and the Day of the Lord begins:
- Israel dwells securely; the wall of separation comes down (Ezek. 38:11)
- Russia (Iran/Turkey/North Africa) launch a surprise attack to take plunder (Ezek. 38:13)
- God intervenes (Ezek. 38:18-23)
- Jews recognize God’s hand in victory “from that day forward”, return to covenant relationship and demand a temple (Ezek. 39:22)
- Rapture of the Church and Bema Seat Judgment (1 Thess. 4:13-18; 1 Cor. 15:51-58; 2 Cor. 3:11-15)
- The diaspora is complete and the last of the Jews return to the land “not leaving any behind” (Ezek. 39:28)
- The Tribulation/Day of the Lord Begins: (Jeremiah 30:7; Rev. 6:1-8)
It is in the 3rd judgment (Rev. 6:5-6) that the financial collapse takes place.
(see more on ‘Unfulfilled Prophecy’ in BP 101 chapter 10 here)