Sep 10, 2012
China Is Slowly Sawing Away at the Branch America Is Perched On
The economic policy of China has long been harmful to the U.S. economy. Cheap imports from our communist trading partner have devastated huge areas of our manufacturing base. It was initially done to save on the cost of production. This dependency on low wages in Asia has progressed to the point where we now lack the ability to produce some of the most common items we have around our houses.
We've also run up a huge tab from decades of one-sided imports. The U.S. now owes the rest of the world $5 trillion. With money comes power, so to keep our economic system afloat, we increasingly need to do things to please our debt holders.
One sign of how dependent we've become on China was an offer we recently made that would allow the Chinese to buy bonds directly from the Treasury. Currently, only primary dealers can buy bonds. The Chinese didn't seem to show any interest in the plan. They have actually gone cold turkey on us. After being the biggest buyers of U.S. debt for years, Beijing has suddenly decreased its holdings, dropping from $1.31 trillion in June 2011 to $1.16 trillion a year later.
In the past few years, there have been growing signs that China is seeking to undermine America's financial dominance in the world. Beijing has made a host of trade agreements that would erode the dollar's role as the international reserve currency.
In 2009 and 2010, China signed a host of bilateral currency swap agreements with Indonesia to Belarus and Argentina. Last year, it signed an agreement with Russia to use the ruble and yuan to settle trade. A few months later, it signed a similar pact with Japan. This year, China has agreed with Germany to use euros and the yuan for trade.
Probably the greatest indication that China intends to replace the dollar with a currency it controls is its ongoing accumulation of gold. A cable released by Wikileaks had a title that couldn't be more blunt: “China increases its gold reserves in order to kill two birds with one stone.” The cable was a warning sent to Washington by the U.S. embassy in Beijing.
China’s central bank has become a major buyer on physical gold on exchanges. In just the past six months, it has imported over 400 tons of gold. This amount is greater than the gold held by Portugal. All the gold mined in China goes directly to the national treasury. The citizens of that nation are highly encouraged to buy gold as part of their savings.
If China introduced a gold-backed yuan, it would give the dollar major competition. Since we just passed the $16 trillion mark in our national debt, there is a growing possibility that the world will suddenly realize the greenback is greatly overvalued.
I think it is possible that China may initiate a nightmare scenario by suddenly dumping its dollar reserves on the market. If we woke up some morning to the news that China had sold a huge chunk of its reserves, there would be a massive panic that could cause the dollar to implode.
This scenario would be an insane move for your average investor, but China's interests are not just about making more money. Just like with any totalitarian state, its top priority is to achieve global dominance. If Beijing could destroy the dollar, it would replace America as the key military power in the Asian theater.
Our military might is directly linked to the value of our currency. It costs us $100 billion a year to maintain a presence in Afghanistan. If the dollar collapsed, the cost of deploying our troops to a major campaign would become prohibitively expensive.
Bible prophecy seems to imply that there is going to be a return to the gold standard during the Tribulation hour. The prophet Daniel said the Antichrist will have his trust in gold and silver. James warns that it will do him no good.
"But in his estate shall he honour the God of forces: and a god whom his fathers knew not shall he honour with gold, and silver, and with precious stones, and pleasant things" (Daniel 11:38).
"But he shall have power over the treasures of gold and of silver" (Daniel 11:43).
"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" (James 5:3).
Restrainer at Work
In presenting this week’s commentary, I must be careful to preface my thoughts. This is to make clear that I fully realize that the nation of which I am a citizen has no special, private, import, or status within God’s prophetic dealing with mankind, so far as its people being a restraint against the influence of evil is concerned. I can say only that I believe America is, very likely, the nation in which the highest number of Christians reside.
By “Christians,” I mean people who are “born again” in the sense of the words Jesus spoke on the matter of salvation as recorded in John 3:3-7. As a matter of fact, the United States has descended from being the most Christ-centered to, perhaps, the most base nation on the planet, in terms of exportation of the world’s entertainment filth. With the constitutionally legalized murder of more than 4,000 babies in the womb per day, we have spit in the face of the Almighty, telling Him that His love for the human race means nothing in view of expediency in the matter of lust for pleasure.
That established–that America is no longer the shining city on the hill to be admired--the United States still possesses the residual vestiges of greatness. The nation retains, I believe, remnants of the Christian ethic sufficient to be an influence in these closing days of the Age of Grace.
What I am saying–at least it is my intention to say--is that the born again within this nation do, indeed, have a special and private duty to perform in these times that look to be very near the first phase of Christ’s Second Coming. Because of American Christians and their position within present history as the Church Age closes, I’m convinced that we can examine a specific prophetic section of God’s Word and receive insight as to precisely where we stand as a generation on Heaven’s prophetic timeline. That specific prophetic section is found in the following verses:
And now ye know what withholdeth that he might be revealed in his time. For the mystery of iniquity doth already work: only he who now letteth will let, until he be taken out of the way. And then shall that Wicked be revealed, whom the Lord shall consume with the spirit of his mouth, and shall destroy with the brightness of his coming. (2 Thessalonians 2:6-8)
The reference “he who now letteth” in this passage is to God, the Holy Spirit–the third Person of the Trinity. The Holy Spirit, Paul is prophesying, has been and is acting as restrainer of evil in the present world. God, the Holy Spirit, will continue to restrain the end-times evil until God removes from acting as the restraining influence during this Church-Age dispensation.
We who believe in the pretribulation, premillennial view of Bible prophecy hold that the Holy Spirit indwells each born again (saved) person during this Age of Grace (Church Age). Christians are thus known, collectively, as the church. The church, indwelt by God the Holy Spirit, is the Body of Christ, individually and corporately. It is this body of believers who act as salt and light for a world of corruptive evil that would otherwise bring about total decay, causing every area of human existence to implode.
The Holy Spirit will, therefore, the above prophecy informs, live within and exert influence through believers in Jesus Christ until the moment God no longer acts as restrainer of this world’s evil. This truth provides the answer to the question that is being asked prolifically in one form or another: When will all of the evil that is threatening America and the world bring civilization crashing down?
Some of that evil that looms threateningly over our daily lives brings worried glances from even the most ardent skeptics of Bible prophecy. An economic storm of unprecedented magnitude hangs angrily above America, with national debt that just turned $16 trillion as the Democrat Party–chief among contributors to the fiscal madness—began its convention the week just past. (The Republican Party, it must be said, contributed mightily to the staggering debt load as well.)
It amazes even the global gurus of finance as to why the world isn’t already crushed by the impending economic crash. Iran’s leadership tells Israeli leaders practically every day that they intend to wipe the Jewish state from the face of the earth. They do little to hide the fact that they are in the process of bringing into reality nuclear weapons that can make their destructive wishes a fait accompli.
With such an avowed, blood-thirsty enemy, missiles trained on Israel and, some believe, on the very brink of producing atomic weaponry, it astonishes many observers that the Israeli Defense Force hasn’t already risked initiating all-out war by destroying Iran’s nuclear production facilities.
Absolute evil pervades every strata of society. The days like those of Sodom and of the antediluvian times of Noah inflict debauchery and violence that only a decade ago would have seemed far distant. Islam is allowed to usurp, in some cases, the U.S. Constitution, favoring Sharia Law in order to show tolerance. At the same time, Christianity is pushed to the margins of society and held up as intolerant by the tolerance police–through the insane institutions many of the federal courts have become.
Yet, the world holds together, while seeming to be on the very cusp of “Implosion,” as the title of Joel Rosenberg’s book would have it.
The Restrainer is at work. I believe that’s the answer to why the implosion has not happened, bringing total devastation to this judgment-bound earth. When the Restrainer removes and the church is called to be with Christ, I’m convinced the impending horrors that have for so long engendered the questions about the end will fall instantly upon a Christ-rejecting world.
Are you Rapture Ready?
We often get requests, asking: “ Do you know of a good church in our
I want to remind those of you in the Denver, colorado area of a church
that was recently established.
The pastor is Dr. Dix Winston, a close personal friend of mine who wrote
a chapter for my book, The Departure.
He has for thirty-five years been a superb teacher and preacher of God’s
Word, and by that I mean the whole Bible. He is not timid about
getting into the prophetic Word in these crucial times.
Dix puts forth the dispensational, premillennial, pretrib view of Bible
prophecy in a dynamic way that too often is missing in pulpits across
Dr. Winston plans to launch an annual Bible prophecy conference as part
of his ministry as senior pastor. I promise that you are in for a
spiritual treat when you visit this church:
Crosspoint Community Church in Lone Tree, Colorado.
For directions and a map to Lone Tree Elementary School, where the
church is housed for now, click here:
9375 Heritage Hills Circle.
Early fellowship and coffee at 9 a.m.
Lesson from 9:30-10:30 a.m.
Q & A and more fellowship time from 10:30-11:00 a.m.
Feel free to contact Dr. Winston at