“The tide of globalization is turning,” says Martin Wolf, the respected economics editor of London-based Financial Times. He cites proof. For example, trade trends have been flat relative to overall economic output in the world this past 8 years (following the Global Financial Crisis). Also, the stock of cross-border financial investment assets have peaked relative to global economic output, falling substantially. Many other statistics could be quoted.

Wolf’s statement is arresting. It is crucial to understand the significance of “globalization turning.” Globalization is and was the FOUNDATION of soaring global wealth this past half-century. It was the culmination of the great visions of many philosophers and visionaries who foresaw increasing cross-border commerce as the road to a common “one-world.” The common interest and global intertwining of prosperity would draw all nations together in world peace.

It is crucial to understand that globalization was the Holy Grail of all the significant global policy organizations from the International Monetary Fund, to the World Trade Organization, the World Economic Forum and many others. “Peace and safety” and “prosperity and the end of poverty” were the catch-slogans of our times.

And, for well over half of a century, cross border trade increased at many times the rate of overall world economic growth.

Globalization, of course, began much earlier … hundreds of years earlier. However, it has been the time span since 1970 or so over which globalization accelerated at double speed.

How has it all worked out? Indeed the world has become much more economically intertwined than ever before. Financial flows are interlinked as never before in world history. Some claim that extreme poverty in the world has diminished. Yet, it must also be noted that wealth distribution has become more uneven than perhaps ever before in world history. All the while, population migration between countries has not been any more significant than in other eras.

One goal has not been achieved: World peace. There remain many rumors of war, inter-tribal skirmishes and wars. And now, the “tide of globalization is turning.”

Observers lament recent declines in global trade volume growth, a broad shift to trade protectionism and a general unwinding of established financial capital flows. Through the current financial morass can be seen the glints of “natural” deflationary pressures that lie underneath. As mentioned, global trade volumes are still flat to down.

We can also point to shrinking bank balance sheets, declining currency reserves, declining foreign reserves deposited with the Fed, etc. Critically, global currency trading volumes for the first time on record have declined according to a recent report issued by the Bank of International Settlements. This last development is a hugely symbolic development as currency trading volume was the poster child of globalization, with trading volumes up by 10,000 per cent and more since 1970.

Prophetic Implications to Consider

Consider the developments of globalism and globalization. Fulfillment of Bible prophecy requires that these global developments must occur. Were this not so, it would not be possible for future prophecy to be fulfilled.

For example, were there no globalism, how would it be possible that Israel “[…] shall not be reckoned among the nations” (Numbers 23:9); that world rulers “will band together against the Lord” (Psalms 2:2-3); or that God’s last-day judgments could be shown to be a “global” punishment?

The rapid trend of globalization can be considered to be “prophetically significant” as it is a process that eventually enables the specific fulfillment of prophecy.

Then, what to make of the apparent “turning of globalization.” Will the fulfillment of some prophecies therefore be delayed?

We can point to events and processes of perhaps hundreds of years ago that have served to set the foundations of today’s globalism and globalization. Over such longer periods of time, trends can experience “ebbs and flows” — two steps forward, one back. Significant reversals can occur that may cause short-sighted observers to abandon the “prophetic significance” of longer-running developments such as globalization or globalism.

This apparent reversal is only modest to date … certainly not yet of the scale of the reversal that occurred as a result of WWI. The “Gilded Age” of globalization anchored by the British currency then experienced a harsh reversal.

The decline of globalization at that earlier time (or presently) did and does not negate the long-term trend of globalization. One would be wrong to make the pronouncement that the advance of globalization has ended and therefore is no longer “prophetically significant.” As mentioned, short-term trends can be notoriously misleading. In any case, today’s state of globalization and globalism is already so advanced that any reversal would hardly delay the fulfillment of prophecy.

Ship-Shape for the Endtimes

An interesting side-light to the discussion of globalization is the role of ocean-going ships. Even today over 90% of world trade still travels by ship. Ships therefore are the symbol of global trade. Therefore, the recent bankruptcy of Hanjin Shipping, the 7the largest ship company in the world, has caused quite a shock. Just why did this South Korea-based shipper run aground? World trade volumes have been flat to slightly negative; however, one would think that a small cyclical downturn should be easily survived.

Virtually every major industry can face steep cyclical downturns. This is rarely fatal. Why not so shippers? The modern container-ship shipping industry has never before experienced a prolonged downturn in growth. The great globalization boom resulted in massive trade volume expansion …. at an average of 7% per annum for over 50 years.

As such, the industry over-expanded its capacity, assuming global trade growth would resume. Since 2000, the total fleet capacity has risen four-fold. The “turning of globalization” has contributed to massive over-capacity, and as such, shipping costs have come under pressure.

It is interesting to recount how the revolutionary changes in the shipping industry contributed to the world boom in international trade. It was only in 1956 that the twenty foot container was invented by the Seal-Land company, which was founded by the shipping pioneer, Malcolm McLean. The container greatly increased the speed of shipments. They could be easily unloaded directly to railroad cars or transport trucks. Prior to that time, cargo would be loaded manually piece by piece.

We here insert an excerpt from the February 2005 article Ship-Shape for the Endtimes:

What’s Shaping Up for the Future?

The Bible says that the spirit of Tyre, that ancient city whose name was synonymous with Tarshish, shipping, trade and idolatry, will again re-appear on the world’s stage. “At the end of seventy years, the LORD will deal with Tyre. She will return to her hire as a prostitute and will ply her trade with all the kingdoms on the face of the earth” (Isaiah 23:16-17). Tyre has never re-emerged upon the world scene in any literal sense.

Likely, the Bible is referring to the spirit behind Tyre — a greed-infused emphasis upon materialism and commerce as the raison d’etre for mankind’s existence. In fact, Ezekiel identifies this very spirit as being Satan himself. (See Ezekiel 28:12-19.) Assuming that this interpretation is correct, we can anticipate that the “spirit of Tyre” will be a mark of the endtime world. The very same spirit is in clear evidence in Revelation 18 which describes a world-wide colossus dependent upon trading ships.

Is that time in the near future? Based on the evidence of trends of just this past half century — even just the past few decades — we would be unwise to not recognize the signs of the times. Even shipping trends and developments cry out their message. It would not be sensationalist to conclude that the time described in Revelation 18 is already in clear view. World trading activity has literally boomed unlike any other period ever before in history. And, moreover, the world trading system is dependent upon ships as ever, despite the emergence of other advanced forms of transport.

A large part — a third — of the world’s trade network is destroyed at the time of the second trumpet (Revelations 8:9). The entire trading system — at least its systemic hub, Babylon the Great — is destroyed in one hour. That same time may be depicted in this Old Testament prophecy: “The LORD Almighty has a day in store for all the proud and lofty, for all that is exalted (and they will be humbled), for all the cedars of Lebanon, tall and lofty, and all the oaks of Bashan, for all the towering mountains and all the high hills, for every lofty tower and every fortified wall, for every trading ship (ship of Tarshish) and every stately vessel. The arrogance of man will be brought low and the pride of men humbled; the LORD alone will be exalted in that day, and the idols will totally disappear” (Isaiah 2:12-18).

But before all this can happen, a world-wide trading and shipping colossus must emerge. We see that happening before our very eyes today … despite the ups and downs of business cycles and periodic financial crises.

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For resources on “endtime economics” and to subscribe to the free newsletter, Eternal Value Review, visit Wilfred’s website: www.eternalvalue.com or contact him at: staff@eternalvalue.com

About the Author: 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. His newest book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the future.

[Editors comment: Recently, C. Peter Wagner passed away. He was 86. One would have to agree that he was influential in religious circles. However, an internet search will reveal a wide range of opinion on the nature of this influence … from erraticism to supposed great Christian leader. Our ministry niche is quite specific, and so we rarely name people that we disagree with in matters of Scripture and theology. Doing so is sure to attract the distracting barbs of disgruntled readers. However, in this case, we did have direct contact with Mr. Wagner … though very briefly.

In 2004, I received a personal invitation from Mr. Wagner to attend an exclusive multi-day gathering of apostles, business leaders and money management professionals. There were to be only 20 or so people who would explore his prophetic view that a great money transfer was expected to be received by the Church. He theorized that one of the missing links that had delayed his envisioned wealth transfer was the Christian “money manager.”

Apparently, there were not many of these, perhaps partially explaining why I was contacted. Prior to that time, I had no awareness of the New Apostolic Reformation (NAR) movement that Wagner had founded. Naturally, upon receiving the invitation, I did some research. It was quickly apparent quickly that I could not have any fellowship with Mr. Wagner’s initiative. I declined the invitation. Sometime later (July 2008) I wrote the following article which exposed the non-biblical underpinning of the idea that the wealth of the wicked would be translated into a great endtime money transfer to the Church. A few minor updates have been made to the original.]

Wicked Money and the Great Endtime Money Transfer

Many researchers today say that America is in the midst of the biggest wealth transfer ever. Some $40 to $100 trillion and more will change hands as the older generation passes off its wealth to the next generation in future years. Similar such shifts, of course, apply everywhere. But there is yet one more great wealth transfer predicted to occur in the near future. According to some teachers, the Church with soon inherit the wealth of the wicked.

Reputedly, there is a Bible verse that supports this idea. Found in Proverbs 13:22, it reads, “A good man leaves an inheritance for his children’s children, but a sinner’s wealth is stored up for the righteous.” It is mainly from this one single verse that the “wealth of the wicked” is conjured up for divine distribution to Christians living today. But really, what does this verse mean and to whom does it apply?

There seem to be a number of answers that have gained popular support in recent years. Representing a growing view, says C. Peter Wagner, “[…] the body of Christ needs to come into alignment with God’s declared purpose to release unprecedented amounts of wealth for the extension of His kingdom on earth.”1

Wagner was one of the key proponents of the view that the transfer of the “wealth of the wicked” is a premillennial event and is specifically meant for the Church … more precisely, his own association of churches which is under his senior apostolic authority. Dr. Wagner, who was also a major impetus behind the “Church Growth Movement” and the “Third Wave,” has much influence. Supposedly, this wealth transfer is a glorious development of the last days that enables and honors the Church.

There are quite a number of loose interpretations of Proverbs 13:22. Applied to the Church, this concept is also often linked with the teaching that a massive, world-wide, last-day ingathering of souls will yet occur. It is also well known that prosperity gospel preachers like to hang their theology on this same Scripture verse found in Proverbs, though they apply it here to the individual Christian.

Can any of these ideas be broadly supported in Scripture? We want to investigate.

Undocumented Transfers

Will the Church soon be showered with the wealth of the unrighteous, thus being able to fund the last, great global harvest of souls? Again quoting C. Peter Wagner, “I think the time is ripe for those of us who are apostles to begin to understand the crucial role we have in God’s plan to release the wealth of the wicked for the advance of the kingdom of God.”2

But what does the Bible say? Pursuing a historical-grammatical interpretation—in other words, interpreting the Bible as it reads and means—try as one might, one cannot find this view supported in the Bible.

Dealing first with the “wealth transfer” notion, indeed, we do find that there is a great wealth transfer prophesied in Scripture. However, it has nothing to do with the Church, but rather applies to Israel and the Millennial period. There are many Scripture verses connecting this event to Israel; and none to the Church. Here are six:

1. “You will feed on the wealth of nations, and in their riches you will boast” (Isaiah 61:6).

2. “Then you will look and be radiant, your heart will throb and swell with joy; the wealth on the seas will be brought to you, to you the riches of the nations will come (Isaiah 60:5).

3. “I will extend peace to her like a river, and the wealth of nations like a flooding stream” (Isaiah 66:12).

4. “Rise and thresh, O Daughter of Zion, for I will give you horns of iron; I will give you hoofs of bronze and you will break to pieces many nations.” You will devote their ill-gotten gains to the LORD, their wealth to the Lord of all the earth (Micah 4.13).

5. “Your gates will always stand open, they will never be shut, day or night, so that men may bring you the wealth of the nations—their kings led in triumphal procession” (Isaiah 60:11).

6. “The wealth of all the surrounding nations will be collected—great quantities of gold and silver and clothing” (Zechariah 14:14).

There are additional indications of great wealth transfers prophesied in the Old Testament. Their context refers to the same general time—likely early in Millennial period. For example, a prophecy applying to Tyre—this city being a prefigurement of the godless commercial systems that aligns with the Babylon the Great of Revelation 18—speaks of wealth being set aside for “those who live before the Lord.”

“At the end of seventy years, the LORD will deal with Tyre. She will return to her hire as a prostitute and will ply her trade with all the kingdoms on the face of the earth. Yet her profit and her earnings will be set apart for the LORD; they will not be stored up or hoarded. Her profits will go to those who live before the LORD, for abundant food and fine clothes” (Isaiah 23:17-18).

This indeed speaks of wealth transfer, although certainly the time frame remains open to debate. Nevertheless, while we have not provided an exhaustive list of references, we have at least established broad Scriptural support for Israel being the recipient of a major wealth transfer.

Critically, there is not one verse we can find in the New Testament that even indirectly refers to a great endtime wealth transfer to the Church. Even the book of Revelation is silent on this topic, though it refers to the destruction of the wealth of Babylon the Great, which will “never be recovered” (Revelation 18:14). Assuredly, if great wealth were to be transferred to the Church, support for this concept would have been found in the New Testament. Instead, there we only find admonishments about the deceitfulness of wealth and how the faith of many will grow cold due to the cares of this life and money.

The Great Wealth Transfer Received

If there is any concept of the “wealth of the sinner” being transferred to the righteous, it clearly applies to the beginning Millennial period and not to any previous time. As it is, Proverbs 13:22 is grossly taken out of context by the Third Wave group of movements. This verse is not a prophecy, but rather, like most of the wisdom literature of Proverbs, only points to general principles or ideals.

In fact, in the very same chapter are found two additional statements about the wicked: “Misfortune pursues the sinner, but prosperity is the reward of the righteous” (verse 22); and, “The righteous eat to their hearts’ content, but the stomach of the wicked goes hungry” (verse 25). Wouldn’t these also rank the same in importance?

Again, neither of these can be prophecies unless, of course, these are entirely allegorical. Nevertheless, they would not fit. For one, there will be neither misfortune nor hunger in the Millennial period. Secondly, as general physical principles, the two maxims in these verses are simply not observable upon earth during this present dispensation. Other Scriptures clearly point out that the wicked do enjoy their riches and that God indeed allows the rain to fall upon both the wicked and righteous. (For example, see Job 21:7-9, Psalm 73:12.)

There are many other problems with the last-day wealth transfer notion applying to the Church. For example, it is claimed that there will yet be a last-day global harvest before the Lord returns, and that the Church will need great wealth to fund this objective as well as eradicating poverty in the world. Says Wagner, “In order to possess the gate of wealth to, among other things, develop plans to eradicate systemic poverty, we need to develop new structures of intercession to do the spiritual warfare necessary to transfer wealth. 3”

However, the Bible says directly otherwise. Clearly implying that there would be little faith upon earth when He returns, Christ asked the rhetorical question: “When the Son of Man comes, will he find faith on the earth?” (Luke 18:8). Sadly, whatever great harvests there might yet be, only a very small number of believers will remain at the time of Christ’s return. Other Scriptures also underline this general “cold” spiritual condition of the last days.

In addition, with respect to the poor, Christ said that they would be with us always (Matthew 26:11), indicating that the fallen state of mankind on earth was not going to be successfully transformed by the social initiatives of the Church nor any other organization.

A final point to consider in our brief review is that if the Church must first wait for one great and final ingathering before being raptured (as the Third Wave prophets and so-called apostles such as Dr. Wagner prophesy), then the Biblical principle of eminency is obviated. However, nothing more is required to happen before the Rapture can occur. It is imminent.

As such, it would be strange that the Holy Spirit himself would enable modern-day prophets and apostles to foretell that one great ingathering is yet ahead. If that were so, the Rapture would need to wait and the Trinity would have internal contradictions of truth.

As it is, there is a last-day ingathering prophesied in the Bible, however this occurs within the Tribulation period. Here may be involved the 144,000 that are sealed or the final Christian converts that may respond to the angel that “had the eternal gospel to proclaim to those who live on the earth—to every nation, tribe, language and people (Revelation 14:6).

Respect for Scripture

So is there a great, last-day wealth transfer to the Church? Scripture clearly settles this question. Yet, theologians who should have sufficient knowledge of what the Bible says4 instead prefer to trust their own intuitions and personal prophecies. This recent statement from Apostle Peter (aka C. Peter Wagner) provides an example of such vanity, in which he appears to make his own decrees supersede Scripture. Spoken on the great reverential authority of the claimed office of a New Testament apostle, he literally commands the earth’s obedience. Not even the first Apostle Peter spoke with such licence. (One also wonders why the foundations of the New Jerusalem will be named after the original 12 apostles and not more? —See Revelation 21:14.)

“I hereby take the apostolic authority that I have been given by God. I decree that vast amounts of wealth will be released supernaturally, even from godless and pagan sources. I decree that large numbers of God’s chosen people will be empowered in fresh and creative ways to gain wealth according to Deuteronomy 8:18. New inventions will multiply. Disruptive technologies will change the life patterns of the whole human race. The earth will disgorge vast riches of hidden resources. These will be entrusted to God’s agents. Profits will increase exponentially. It is spoken. So may it come to pass! Amen and amen!” 5

The reference to Deuteronomy 8:18 is also taken out of context. It states: “But remember the LORD your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today.” This does not provide any justification for the idea that one can conjure money. Wealth production, is mostly a function of savings and productive labor, In any case, this verse is directly addressing the Hebrews, not the Church.

Today, as all too frequently with other Third Wave Christian movements supposedly marked by “fresh moves of the Spirit,” new or revised theologies have been revealed on the strength of new prophecies uttered by their own prophets. The serious issue here is that these prophecies serve to revise what God originally said through his prophets and Scripture. Indeed, such revisions are not a new phenomenon, having been the mark of many if not all apostate movements or beliefs.

These prophecies reveal a lack of reverence and respect for what God has said. Consider that Christ himself never once claimed to correct or revise any “jot or tittle” of the Scripture and the Prophets. Jesus, though he was God, could not and did not have the temerity to revise and improve upon the testimony of the prophets. Yet, such conceit and disrespect of Scripture is legion amongst all revisionists. Doing so, they “reject authority and slander celestial beings” (Jude 1:8).

Thoughts to Ponder

The Bible does prophesy a major endtime wealth transfer. It is not to the Church, but rather to Israel and the righteous of the Millennial Kingdom. Yet, some churches today do hanker after worldly power and have set their eyes upon monetary wealth.

As America itself is in the midst of the largest wealth transfer in history, says the website of PhilanthroCorp, a fundraising consultancy, “Churches can capitalize on the opportunity presented by this huge wealth transfer by pursuing a strategic planned giving program.6” In fact, the apostate church and its many daughters, shown as Mystery Babylon the Whore in Revelation 17, are well on their way to a full union with commercial Babylon of Revelation 18.

The grand last-day ecumenical lie of serving both God and Mammon is far advanced. Since this is impossibility—“You cannot serve both God and Money.” (Matthew 6:24)—it is really a movement in which Mammon has robed itself in the garb of religion and apparent “Christian godliness.”

The true Church of the last days, if anything, is more of a remnant than it is resplendent with wealth. Revelation 3:8 says that the church of the “open door” is weak and feeble; far from being imbued with worldly power and wealth. It is this little Philadelphian band of believers, to which is promised, “Since you have kept my command to endure patiently, I will also keep you from the hour of trial that is going to come upon the whole world to test those who live on the earth” (Revelation 3:10). If the Third Wave movements are correct, one wonders why it is the rich Laodicean church that is being reprimanded by Christ.

The Bible says, “The testimony of Jesus is the spirit of prophecy” (Revelation 19:10). We therefore must ask: Is the spirit behind these prophecies of great wealth and power coming to the Church the testimony of the Spirit of Jesus? (Acts 16:7, Philippians 1:19). Such riches would surely corrupt for wealth is deceitful (Matthew 13:22). Christ pointed to the importance of true riches for His followers and the Church, saying: “So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches? And if you have not been trustworthy with someone else’s property, who will give you property of your own?” (Luke 16:11-12)

Where should we look for wealth and power? “Worthy is the Lamb, who was slain, to receive power and wealth and wisdom and strength and honor and glory and praise!” (Revelation 5:12).

Notes:

1. C. Peter Wagner, Personal invitation to this author to participate in an ad hoc “invitation-only” Apostolic Roundtable on Kingdom Wealth, in Colorado, October 2004. On file with The Mulberry Ministry.

2. C. Peter Wagner, Releasing Wealth in Apostolic Times. <http://www.globalharvest.org/index.asp?action=wealth> Accessed April 17, 2008.

3. C. Peter Wagner, Cindy Jacobs et al. January 10, 2008. <http://www.elijahlist.com/words/display_word/6056> Accessed April 18, 2008

4. Dr. Wagner was a long-time professor at Fuller Theological Seminary (28 years).

5. C. Peter Wagner, Global Link Volume 3, Issue 23, June 9, 2006. <http://www.globalharvest.org/global_link_95.htm> Accessed April 17, 2008.

6. PhilanthroCorp website: <http://www.aboutplannedgiving.com/page.php> Accessed April 25, 2008.

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For resources on “endtime economics” and to subscribe to the free newsletter, Eternal Value Review, visit Wilfred’s website: www.eternalvalue.com or contact him at: staff@eternalvalue.com

About the Author: 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 bookThe Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. His newest book,Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the future.