The growth of the current global economy is fueled by debt and it is definitely not sustainable. The current banking system offers so many personal loans to satisfy consumers to be able to afford the desired standard of living. Such crippling debt enslaves the average modern man. God hates this usury system because it enslaves people with crippling debt. When God led the Israelites out of Egypt, He gave them repeated warnings about the danger of usury, which is borrowing money with an interest premium. (For further reading, you can refer to Ex 22:25; Lev 25:35-37; Deut 23:19). Obviously knowing the enslaving powers of debt, God mandated regular debt relief programs in the years of release (7 years apart) and the Jubilee Year (Deut 15:1-2). These institutions were designed to prevent debt from overwhelming and enslaving the Israelite population. – extracted from the book, The Coming Economic Flood.
You will notice that the major banking or economic crisis occurred 7 years apart since 1973 to 2015 which is surely no coincidence. I see God’s hand in these events for God will finally destroy Babylon and all her wealth in one hour.
1973 Oil Embargo. 45% loss in stock market.
1980 Savings and Loans crisis.
1987 Black October Monday stock market crash.
1994 Bond massacre.
2001 Sep Dot com bust. The judgment on symbol of Babylon – WTC.
2008 Sep The Great Recession. The judgment on Babylon. Near collapse.
2015 Sep The USD 11 trillion global market crash. Another Babylon warning.
When God finally judges Babylon mentioned in Rev 18, all 3 groups will weep – the kings of the earth, merchants and those who make their living by the sea. Babylon mentioned is unmistakably the alliance of governments (kings of the earth), all global MNCs and all SME enterprises (the merchants), and the global shipping lines and ports cum financial centers (those who make their living by the sea) forming a global supply chain and financial system engaged in globalised trade. All have grown rich as a result of this alliance. This is the current capitalism we know today.
I believe God is gracious and patient hoping to give more time to His people to come out of Babylon. The governments have continued to prop up the system with quantitative easing reaching incredibly high debt level now. And they will continue to print USD 3 to 4 trillion or more annually till it eventually collapses.
Again in Sep 2015 with global markets crashing and losing USD 11 trillion worldwide without any contagion due to quick quantitative easing measures to contain, how long can the system continue with the unsustainable exponential exploding debt fuelled measures ?
In the parable of the wicked tenants, after 3 failed attempts to collect from the tenants, the landowner eventually came and destroy the tenants. I was given the first vision in Sep 2001 and eventually I understood the whole message in early 2013. So in a parallel, with 3 consecutive warnings in Sep 2001, Sep 2008 and Sep 2015, will the global financial system eventually collapse by the next global crisis ?
Postscript (1st June 2020) : By September 2019, God impressed upon me that the next economic crisis may be way before Sep 2022. And from Oct to Dec 2019, I wrote several warning posts on my facebook timeline. (And I believed then the catalyst for the coming crisis might not be the deterioration of the financial situation but rather a calamity such as a massive earthquake hitting a major financial city or a global pestilence.
Postscript (1st Jan 2023) : The global financial collapse did not happen yet again. Though there was another spectacular stock market crash in Sep 2022 wiping off trillions of dollars from the S&P and DOW after the earlier spectacular crash in February / March 2020.
Postscript (1st March 2024): Kindly see my new post dated 1st April 2024 on this same subject.
