Truth in the Clouds

Revealingly, clouds are often mentioned in the Bible. The word cloud and its plural form is cited 149 times. We see that the Bible holds a fascination for them, repeatedly noting the critical and crucial roles that they play in life on earth and prophecy. They are wondrous. Marvels Job, “Do you know how the clouds hang poised?” (Job 37:16a).

As well, the use of clouds as literal imagery is expansive in the Bible. For example: “[…] he is coming with the clouds,’ and ‘every eye will see him, even those who pierced him’; and all peoples on earth ‘will mourn because of him […].” (Revelation 1:7). Or consider 1 Thessalonians 4:17a: “After that, we who are still alive and are left will be caught up together with them in the clouds to meet the Lord in the air.” Yes, “[…] you will see the Son of Man sitting at the right hand of the Mighty One and coming on the clouds of heaven” (Mark 14:62).

Querying the specter he sees of Jews migrating to Israel in the last days, Isaiah asks, “Who are these that fly along like clouds, like doves to their nests?” (Isaiah 60:8).

To be balanced, we must also mention that clouds are frequently used to symbolize gloomy occasions. These refer to both punishment and blessing … especially so in apocalyptic verses that have yet to be fulfilled.

For example, Zephaniah says, “That day will be a day of wrath—a day of distress and anguish, a day of trouble and ruin, a day of darkness and gloom, a day of clouds and blackness” (1:15). And so, the types of clouds that waft across the endtime world during the Tribulation period are of a less auspicious sort.

Head in the Clouds

Looking ahead at global affairs, not only is the outlook cloudy, but also mankind has become totally clouded in his thinking. Mankind increasingly has his “head in the clouds.” In the very last days, humanity is smitten with delusion and fanciful thinking … without foundation … rejecting the very Creator of clouds.

Today, we would agree with the opinion that the entirety of humanity has their collective “head in the clouds” as never before in history. We will yet provide a few examples of this being the case.

Of course, the reader will know that this phrase is a type of criticism … being accused of not being realistic or rational. Christians may very well have their eyes cast toward the clouds—”[…] stand up and lift up your heads, because your redemption is drawing near” (Luke 21:28)—yet we remain unclouded in our doctrines, with our feet firmly on the ground.

Not so the world. Instead, their doctrines are malleable and made of mist.

A New Type of Cloud

Perhaps not coincidentally, the meaning of the word “cloud” has gone through a modernization in our day. It’s taken on new meanings. It is a similar shift as applied to the word “gay.” Where once this word had idyllic meanings, today it has been hijacked as a descriptor for sexual orientation.

Today, the word “cloud” has been borrowed by the field of IT technology—applying to digital data and computer networks. You can have your data in “the cloud” (also called the iCloud). As such, this phrase (“the cloud”) has become an important marker of our age. Consider that “cloud” technologies today have been a major driver of “global interconnectedness” and the digital capture of mankind’s activities. People no longer find it extraordinary that we now “live in the cloud.”

As the case may be, there are many movements “driven by clouds” these days. We are referring here to mankind’s space travel to Mars, or the fanciful dreams of Tesla’s founder, Elon Musk, who believes that humans will someday populate other planets.

Most prominently, we think of trends that involve a belief in unlimited technology that may foster futuristic dreams and altered realities. Here we refer to such theories as transhumanism1 (see endnote) and “dematerialization.” There is no lack of delusion here. Consider also the ideology of Cosmism (a Russian variant). We will not discuss these notions, apart from saying that those who engage in such certainly have their “heads in the clouds.”

Not surprisingly, these theories go hand in hand with occult belief systems and those that wish to entirely nullify God. Instead, they conspire to take full power and authority for humanity. They want to “do what they wilt” (this the cry of occultists) without any consequences or limitation. This is “clouded thinking,” of course, as the created world has its boundaries and limits. Everyone must acknowledge this; it is a sign of the times, we believe. There is a broad abandonment of common sense and facts, instead believing in the ridiculous. We identify many recent trends and developments that ultimately will give “birth to wind” (Isaiah 26:18). There is an accelerating number of beliefs, values, and future expectations for mankind worldwide that are entirely decoupled from foundations, evidence, and sustainability.

Humanity is intent on making his own reality … his own future. This is a choice of mankind that the Bible foretells. The nations wish to rebel. They want to go their own way (Psalm 2:3). And the chief adversary is pursuing the same objective. He says: “I will ascend above the tops of the clouds; I will make myself like the Most High” (Isaiah 14:14).

In that sense, the “footloose and fancy-free” rebellion that we are witnessing today is a “sign of the times.” Let’s consider a few such examples of collective global humanity having their heads in the clouds.

1. Modern Monetary Theory: We have written about this newish theory several times in the past (most recently, in the January issue). It is not a new idea … just an old one in new garb. One of the most licentious tenets of this new policy is the idea that debt (government debt, primarily) can be increased virtually without limit (given certain conditions). Politicians and policymakers will be eager to boost spending and budget deficits. But who would doubt that debt increases will have consequences? To think otherwise is to be clouded. This writer would not be surprised if a massive inflationary spiral unfolds in the Tribulation period, which leads to the conditions of exorbitant wine prices and basic items of sustenance (barley) becoming unaffordable (Revelation 6:6).
2. Ex Nihilo—Cryptocurrencies: This new form of currency has become all the rage among speculating investors. Little more than a decade ago, this digital currency type did not exist. Bitcoin, the best-known crypto, was the first to launch in 2009. Just what are these cryptocurrencies comprised of, really? What purpose do they serve? Most will be stumped to find an answer … including financial professionals. Cryptocurrencies do not exist in physical form (like paper money). Many have no connection to a bank account, and typically are not issued by a central authority.

In this writer’s view, cryptocurrencies and their various derivations are basically speculative vehicles that should not be called currencies. Nevertheless, their value has boomed on crypto exchanges far beyond comprehension. Recently, the Financial Times2 reported that the value of outstanding digital securities reached 1,000 times the estimated value of the entire world’s wealth. Is this real? Hardly. Speculators have their heads in a cloud.

3. Financial Wealth at All-Time High. Primarily due to the massive monetary interventions of the world’s major central banks (due to sluggish economic growth worldwide and the negative economic effects of the Covid-19 pandemic), interest rates around the world have tumbled to all-time lows. In fact, most of the world’s government bonds yield a negative interest rate. This, in turn, has led to soaring stock markets … and somewhat more selectively, real estate prices are also rising to the surprise of many. Valuations are now probably the most extreme in modern financial history. There are no foundations or stable reference points to be found. They are all floating in the clouds somewhere.
4. Falling Fertility Rates. As is well known, human fertility rates continue to decline rapidly around the globe. These are at a record low in many countries. It is the new wisdom that population growth must decline to save the world. With respect to declining population growth, few are worried. Why? They believe that financial markets will miraculously yield enough investment income and gains so that pensions and personal savings will be sufficient to maintain reasonable lifestyles for the world’s future retirees. This is unlikely, of course. All the natural laws of creation would first need to be repealed before this can happen.

Nonetheless, policymakers wish to defer this grim outcome if at all possible. To do so, a Ponzi-like program must be pursued. Here again, we have an example of a belief of mankind that leads to a great, self-driven disaster. Again, it reveals an instance where mankind believes that he can slip the bounds of creation. Put simply, if humans stop having children, there can be no such thing as a comfortable retirement for all. It is impossible. All the same, policymakers are inflating financial asset values to hoodwink and delay the ultimate outcomes. This is already unfolding. Nevertheless, there will come a point where the clouds will lift, and policymakers will realize that real wealth cannot be found in the clouds.

Thoughts to Ponder

We have only scratched the surface in our list of “clouded” and “head in the clouds” thinking. With respect to clouds, just what is the weather forecast?

The world may think it is on Cloud Nine today. But in reality, it is unhinged and without moorings. While the world constructs its “cloud in the sky” of global data and electronic networks, we are to keep watching for our Lord, who is coming in the clouds.

According to Isaiah 55:8-9, humanity’s thoughts are not God’s thoughts: “For my thoughts are not your thoughts, neither are your ways my ways,’ declares the LORD. ‘As the heavens are higher than the earth, so are my ways higher than your ways and my thoughts than your thoughts.”

While the world continues to unfetter its chains and deny the Creator, what are we commanded to do? “[…] Since we are surrounded by such a great cloud of witnesses, let us throw off everything that hinders and the sin that so easily entangles. And let us run with perseverance the race marked out for us” (Hebrews 12:1).

We have the blessed hope.

Says Apostle Paul: “[…] we who are still alive and are left will be caught up together with them in the clouds to meet the Lord in the air. And so, we will be with the Lord forever” (1 Thessalonians 4:17).

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Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world, and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the prophetic future.

Contact Wilfred at: staff@eternalvalue.com

1 The belief or theory that the human race can evolve beyond its current physical and mental limitations, especially by means of science and technology.

2 “Crypto finally becomes bigger than … the world.” The Financial Times, January 15, 2021.

 

Ripening Times #9

Over the decades, I have been to countless conferences (some of these prophecy conferences … others secular economics meetings) where at least one speaker will fire-up the audience with many charts showing soaring debts. A frequent representation has always been a picture showing stacks of $100 bills reaching the moon … and so on.

Catastrophe is always just around the corner according to these speakers … some even claiming that certain “insiders” have told them that a monetary collapse is just weeks away. But here we are, some half a century and more later, and outstanding debts are accelerating anew as perhaps never before in history.

These speakers (and we mean no personal harm when we say this) almost always miss the essential point. For one, we must not overlook that every penny of debt in the entire world is owned by someone or some entity somewhere. If debt is increasing overall (and we will not burden readers with reams of statistics), the heaping of wealth must also increase. Of course, there are many underlying processes at work that bring about such extreme wealth imbalances.

Why Was the Levitical System Needed?

Since time immemorial, there has always been a human tendency to produce a rich class. In part, it is the outcome of the innate human penchants (these being the greatest weaknesses of human beings) of the love of money and economic security. Wealth would heap itself up (see James 5).

Over time, left to its natural course, the majority of wealth will most always be held by a small minority. Here we again recall that debt imbalances almost always go hand in hand with the heaping up of wealth. Many economists overlook this flipside relationship, as mentioned.

Extreme debt levels lead to a destruction of benevolent governance, resulting in oligarchy and plutocracy. Why? Because, as already pointed out, the more debt that exists, the more concentrated wealth will become over time. The wealthy become wealthier.

There is a tendency then to become oppressors … not allowing the debt captivity of the populaces to be reversed. Arnold Toynbee was one of the very few modern economists who understood that the role of debt would lead to concentration of wealth. This is exactly the process unfolding today … worldwide.

Therefore, the emergence of an oppressive, entrenched rich class was always a threat to societies—to a greater or lesser extent. (Rest assured, this is not a diatribe against the rich. These are statements about natural, innate human behaviors.)

God commanded the Hebrews to follow the Levitical system … not one like the Roman system. Under the Levitical system, there still existed plenty of reward and opportunity for entrepreneurs and industrious workers.

Crucially, the Levitical laws prohibited (and prevented) chronic economic slavery and a perpetual poor class. We may call it the Ancient Monetary Theory. It stands in direct contrast to the new Modern Monetary Theory, as well as Roman philosophy, which upheld the sanctity of debt, not its cancellation.

Ancient Wisdom of Debt Forgiveness

In ancient agrarian societies, the burden of debt tended to expand until it exceeded the ability of the debtors to repay. One drought was often enough to force farmers into deep indebtedness. Often, they would need to borrow in order to pay their taxes. At the very least, farmers would need to buy their seed to be able to plant the next year’s crops.

Readers may be familiar with Hammurabi (who wrote the famous Code of Laws). He announced one or more debt Jubilees. (As an interesting time reference, he may actually have been a contemporary of Abraham of the Bible.) As part of a Jubilee (also referred to as a debt amnesty or clean slate), debts were written off or canceled.

Debt clean slates were a wise policy. It had a healthful impact on many households and overall economic activity. The rise of plutocrats (a super-rich class that dominated everything, including rulers) was held at bay by doing so.

The Levitical 7- and 50-year debt cycles of the Hebrews were very similar in effect. The Hebrews were mandated by God to flatten all debts every 7th and 50th year. In the latter cycle, labor contracts would be canceled, and property ownership would return to its original familial owners.

A leading researcher of Middle East cultures in this field has been Dr. Michael Hudson. His most recent book, …And Forgive Them Their Debts: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year (Dresden: ISLET-Verlag, 2018), lays out the history of these practices.

Of course, the status quo has not been quick to endorse his work. Much to the contrary. Why? Because, as mentioned, we today live in the Roman Era, which pursues a much more oppressive treatment of debt. The Roman-style creditor system is supreme and powerful today and has no intention of redistributing the wealth of its prosperous elites to the poor.

Given that the current-day systems are so entrenched and oppressive … holding captives … for this system to be overturned on earth requires a “deliverer.” Thankfully, the Bible says that there will be one such person.

That is the reason why the Lord Jesus Christ said, “The Spirit of the Lord is on me, because he has anointed me to proclaim good news to the poor. He has sent me to proclaim freedom for the prisoners and recovery of sight for the blind, to set the oppressed free, to proclaim the year of the Lord’s favor” (Luke 4:18-19; cf. Isaiah 61:1-2).

For the world systems, a great global Jubilee is prophesied, and it is identified with “the acceptable day of the Lord” (2 Corinthians 6:1-2).

Still Living in the Roman Era

There can be no doubt that we are still living in the Roman Era today. The Bible verifies this view. As such, it only follows that the creditor/debtor relations that prevail today are also of Roman origin.

According to the book of Revelation, the Roman Era is identified as the sixth king. We quote Apostle John, who said, “They are also seven kings. Five have fallen, one is, the other has not yet come; but when he does come, he must remain for only a little while” (Revelation 17:10).

The one “that is” (existing now) is most certainly the sixth and Roman king. Given the pace of acceleration in debt growth, however, we would not be surprised if the 7th king were at the very door. Whenever the rule of the 7th king emerges, it will be only for a short while. Clearly, it serves as a prelude to great disaster (The Great Tribulation).

Eight for Eight Reasons

We consider rising world indebtedness as one of the “signs of the ripening times.” In summary, what are the grounds for our case?

At the very beginning of this Ripening Times series, we laid out 8 qualifying criteria with which to screen end-time factors of significance. Above all, each “ripening” development must be supported Biblically. Crucially, the Bible does directly indicate that a worldwide debt explosion plays a key role in the Last Days. In addition, our screen of 7 other indicators also validates debt as a “ripening factor.” We will list them briefly.

1. Acceleration: Any “accelerating” trend, particularly so beginning after 1948 (this being the point in which God’s timepiece, Israel, again became a sovereign entity in its original land) and/or post 1880s (the beginning of Zionism). If the Lord sees fit to clearly alert us to such momentous time points in His plan, then we would be wise to expect other indicators to emerge as well.
2. Recency: While the “recency effect” (meaning that one tends to be biased by what is seen presently) is the bane of all secular forecasters and interpreters of Biblical signs alike, a “recently accelerating trend” is much more notable than one having begun a long time ago. Why? Because the Bible frequently tells us that last day events will come “quickly.” “The great day of the LORD is near—near and coming quickly” (Zephaniah 1:14). Pre-Rapture Christians should be able to discern increasing intensity in world affairs and the convergence of the signs of the times to final events.
3. Improbability: We find ourselves asking “why” regarding the unlikely emergence of a factor… and “why now and not at some other time in history.” Why would policymakers respond with policies that are directly contrary to historical knowledge? The very improbability and inexplicability of such emerging trends qualify as a possible sign.
4. Global Scope: Trends that have a worldwide influence (not just applying locally or to North America) are an indicative criterion… i.e., identifying them as a potential “significant” trend. After all, end-time Bible prophecy is global in scope. For example, the Tribulation … the world’s leaders conspiring to unshackle their chains (Psalm 2:3) … etc. are all global fulfillments. Therefore, we are particularly alert for “global” trends.
5. Interconnection: Any trend that has confluence or interconnection with another accelerating trend of “significance”—interweaving and reinforcing each other—likely qualifies as also being a “significant” trend. In this case, for example, global debt dynamics are interrelated to “heaping up of wealth” …another ripening sign of the times.
6. Suddenness: A tell-tale key identifying a “significant trend” is its suddenness and rapidity. The entire global rise of the credit/debtor situation that we witness today has unfolded in less than a century.
7. Godlessness: We have stated that significant “signs” are also likely to be in the service of Mammon, humanism, greed and immorality. It would not be incongruous if they cater to political and economic expediency. Godlessness is rife.

All seven characteristics validate an end-time debt explosion as a qualifying candidate trend of prophetic significance. While we will not want to engage in speculation on the near-term timing of the world’s debt explosion, we nevertheless can identify a clear-cut ripening trend of prophetic significance.

These “ripening signs” of the end times are indeed well underway, as we have shown in this series.

Points to Ponder

The Creator deliberately designed the universe to comprise dualities … good and bad, hot and cold … etc. But the major overriding duality of all consists of these two realms that oppose each other: God and Mammon. God created it as such that one must willingly continue (choose) to love Him completely.

It is not possible to love Mammon and to love God at the same time. And, God foreknew, of course, that Mammon—this being Satan’s realm of influence over humanity—would entirely mislead and corrupt the world. A Roman-style credit and debt system is a key part of this program.

Massive indebtedness is, therefore, a sign of the ripening times.

All of the above is not to say that God intended all to be equal … everything to be egalitarian. Far from it. The Bible recognizes that everyone has special giftings; that everyone is different. At the same time, people who do not work do not merit to eat: “[…] we gave you this rule: ‘The one who is unwilling to work shall not eat'” (2 Thessalonians 3:10).

It surely will not be overlooked that rising debt (in real and per capita terms) carries with it severe consequences “eventually.” The time point will arrive … as it must … where the debt piles implode upon themselves.

As the situation exists now, with global debt levels already at all-time highs, the world finds itself reliant (addicted) upon continued borrowed economic growth. Why? Because there really is no possibility of reversal. The world has embarked upon a path of no return. As we have said, this alone suggests prophetic significance: There exists today a record amount of debt globally, causing the world to be on an irreversible trajectory. Its final impact can only be of Biblical proportions, as described in Bible prophecy.

And, as we have shown, 8 of the 8 criteria that we use to confirm “ripening trends of prophetic significance” unanimously apply in the case of global indebtedness.

Complicating this situation is the fact that the world’s population continues to age. For now, these dynamics are contributing to elevated financial markets (for the short-term) … being deceptively and dangerously alluring. This delusive state of affairs could last some time yet because policymakers and individual citizens “want to believe.”

Why? “[…] Wickedness deceives those who are perishing. They perish because they refused to love the truth and so be saved” (2 Thessalonians 2:10). This is the aspect that many long-time “doom and gloom” forecasters have overlooked. While they may be correct in their theoretical diagnosis, they have failed to recognize the human capacity for self-deception. People will believe what they want to hear.

What is the Bible’s view on debt forgiveness? It is the same as with sin. Both are to be forgiven. Both sinners and debtors are captives. A great Jubilee is coming … a great resetting of the world’s systems. How wonderful are the words, “Forgive us our debts […]” (Matthew 6:12) to, “Forgive us our sins […]” (Luke 11:4)

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Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the prophetic future.

Contact Wilfred at: staff@eternalvalue.com