Iran vs West, strategies & tactics – Jerusalem Studio 442
Published on Aug 24, 2019
Gibraltar Authorities ended a weekly long stalemate between Britain and the Islamic Republic last week, by releasing an Iranian oil tanker that was seized upon the request of the United States. This would seemingly help relieve some of the tensions revolving the confrontation between Washington and Tehran, but the so-called Grace affair, is only one part of a multi-dimensional strife between the Trump Administration and the Khamenei regime. Panel: -Jonathan Hessen, host. -Amir Oren, analyst. -Dr. Eldad Pardo, Research Director – Impact SE & Lecturer on Iran Hebrew University Jerusalem. -Dr. Eran Lerman vice president of the Jerusalem Institute of Strategy and Security and a lecturer at Shalem College.
President Abbas: We Shall Enter Jerusalem w/ Millions of Fighters-China & US tensions Sky Rocket
Published on Aug 24, 2019
You will hear the following in this Broadcast: -PA President Abbas: We Shall Enter Jerusalem — Millions of Fighters! -Iran Kicks Off ‘Massive’ War Games, Unveils Homemade Russian Missile System -Putin orders ‘symmetrical’ response to US missile test, says Washington worked to breach INF -U.S. military ship passes through strategic Taiwan Strait -China warned crackdown on Beijing supremacy ‘no1 priority’ of US – ‘Watching carefully’ -Trump: US Companies Must Find ‘Alternative to China’ -Trump announces increased tariffs on China in latest trade war salvo
Watchman Report: Why Does Satan Hate Israel?
Published on Aug 25, 2019
Watchman Report: Why Does Satan Hate Israel? Pastor Brandon Holthaus http://rockharborchurch.net/ All the signs of the last days are converging at the same time. Bible Prophecy is happening right before our eyes and like birth pains, the predicted events are happening more frequently and more intently. Never, in the history throughout the world have so many forces, including economic, scientific, techno-logic, ecologic, cultural, geopolitical, moral, spiritual and religion, converged together to bring this world that’s already teetering over the edge into the abyss, to a point of no return. Jesus said when you see all these signs happening, know that I am near, even at the door.
LATEST WORLD NEWS CLIPS – ARTICLES – SUNDAY AUGUST 25th 2019
PUT YOUR TRUST AND FAITH IN JESUS CHRIST (OUR SAVIOUR):
(Romans 12:2) to seek God’s will, the Lord says, “Do not worry about what you’ll eat or drink or wear. But seek first His Kingdom and His righteousness and all these things will be given to you as well”
Eph. 4:23 And be renewed in the spirit of your mind;
Eph. 4:24 And that ye put on the new man, which after God is created in righteousness and true holiness.
Eph. 4:25 Wherefore putting away lying, speak every man truth with his neighbour: for we are members one of another
Phil. 4:8 Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good report; if there be any virtue, and if there be any praise, think on these things
DAILY CHRISTIAN BIBLICAL QUESTIONS AND ANSWERS:
MUSLIM VS. CHRISTIAN PROPHECY
QUESTION: I’ve noticed many times that when speaking of End Times, many teachers seem to give the Islamic prophecies the same credence as they do to Biblical prophecies. Is there a basis for belief in any Islamic prophecies? Some Christian teachers compare the Mahdi with the AC as if he is really going to show up in the End Times.
ANSWER: I can’t speak for the motives of other teachers but I find it interesting that the one some Muslims look to as a messiah figure bears a striking resemblance to the one Christians know as the anti-Christ. For example, they’ll both come on the scene during a time of great chaos, they’ll both claim to be peacemakers, both will have 7-year reigns after which comes judgement, both will head up a one world government and a one world religion. This can’t be coincidental.
Do I think al Mahdi will come? Absolutely. But not because Muslim prophecies say so. I believe he’ll come because Biblical prophecies say the anti-Christ is coming.
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WEBPAGE ADMINISTRATOR: PLEASE NOTE: The Roman Catholic Church (Jesuit Priesthood) Was ordered by the “Then” Roman Church to “Create” a “New Document” (From parts of the Bible, and other documentation handed down through the ages) it was called the “Koran” and this led to the creation of a Muslim Army to wipe out the “Factions” creating havoc and killing in the Roman Catholic held territories. Unfortunately the army created turned on the “Then” Church of Rome, and the Christian wars in the Middle East and Elsewhere were the result. The Elite of our time “Now” are using the Muslim Religion to bring in a One World Government a “totalitarian State” of mind and “Total Control” World Wide. The integration of Muslim’s into Christian Countries is the beginning and end of this mess, and the World’s “ELITE” taking control of the whole World, but God also has a plan to stop them, and it starts in Revelation 6: but the good News is Many Muslim’s are turning to Jesus Christ as their Saviour, “IRAN” is a prime example of this fact where millions of people over the past few years have converted to “Christianity”.
NEWS CLIPS OBTAINED FROM MANY SOURCES – INCLUDING
Tracking bible prophecy.org
Rapture Ready News
Main News Channels
End Times Headlines
Other Christian Sites
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I AM GOING TO MAKE JERUSALEM A CUP THAT SENDS ALL THE SURROUNDING PEOPLES REELING … Zech. 12:2-3
God is in control, and He told the nations the consequences of dividing the Promised Land and declaring peace and safety on their own terms (Joel 3:1-2; I Thess. 5:3)
WORLD TERRORISM – WARS
GENERAL WORLD NEWS:
1Tim. 6:10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows
Rev. 6:5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
Rev. 6:6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine
MASSIVE EARTH CHANGES/EARTHQUAKES/VOLCANOES ETC:
2Chr. 7:13 If I shut up heaven that there be no rain, or if I command the locusts to devour the land, or if I send pestilence among my people;
2Chr. 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land
CHRISTIAN AND RELIGIOUS WORLD NEWS:
Matt. 24:9 Then shall they deliver you up to be afflicted, and shall kill you: and ye shall be hated of all nations for my name’s sake.
Matt. 24:10 And then shall many be offended, and shall betray one another, and shall hate one another
EXTRA WORLD – ALTERNATIVE NEWS:
WORLD – PROPHETIC NEWS ARTICLES PRESENTATION – LATEST WORLD NEWS CLIPS – ARTICLES – SUNDAY AUGUST 25th 2019
MIDDLE EAST AND WORLD WAR LOOMING THE BUILD UP TO PSALM 83 – ISAIAH 17 AND GOG OF MAGOG WARS EZEKIEL 38:
THE WHOLE WORLD IS UNSTABLE FINANCIALLY, POLITICALLY, PHYSICALLY, MORALLY, GODLY: – AND BECOMING MORE SO DAILY. (WE ARE IN THE BEGINNING OF SORROWS (MATT 24:8)
THE BIBLE STATES THAT IT WILL ONLY GET WORSE BEFORE THE START OF THE TRIBULATION OF MANKIND – (REVELATION 6)
Matt. 24:6 And ye shall hear of WARS AND RUMOURS OF WARS: see that ye be not troubled: for all these things must come to pass, but the end is not yet.
Matt. 24:7 FOR NATION SHALL RISE AGAINST NATION, AND KINGDOM AGAINST KINGDOM: and there shall be famines, and pestilences, and earthquakes, in divers places.
ISAIAH 17/PSALM 83:
THE DESTRUCTION OF DAMASCUS and
Muslim Countries in the Middle East will launch an attack on Israel
PROPHECY OF ELAM – (Possible Attack on Iran’s Nuclear Program
PALESTINIAN AUTHORITY PRESIDENT MAHMOUD ABBAS VOWS THAT ‘MILLIONS OF FIGHTERS’ WILL ENTER THE GATES OF JERUSALEM, SAYS ‘TERROR FUNDING WILL NOT STOP’ NO MATTER WHAT
https://www.nowtheendbegins.com/palestinian-authority-president-mahmoud-abbas-vows-millions-of-fighters-will-enter-gates-jerusalem-says-terror-funding-israel-not-stopping/ – by Geoffrey Grider August 23, 2019
“To Jerusalem we march, martyrs by the millions!” he was quoted as saying, according to a translation by the Middle East Media Research Institute, or MEMRI, a media watchdog site. Mahmoud Abbas, in an Arabic language speech at Jalazone Refugee Camp near Ramallah that was heavy with threats of destruction, doubled down on the Palestinian government’s policy of using public money to pay convicted terrorists and their families, telling his audience, “We will not accept their designation of our martyrs as terrorists. Our martyrs are the martyrs of the homeland.”
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Palestinian Authority President Mahmoud Abbas threatened this week that “million of fighters” would swarm Jerusalem and topple the Jewish state’s capital city, warning that “no matter how many houses and how many settlements they declare that they plan to build here and there—they shall all be destroyed.”
I almost feel sorry for Mahmoud Abbas in his recent vitriolic threats against Israel where he promised that ‘millions of fighter’ will storm the gates of Jerusalem and take it. Why? Because he’s right but he has no idea why he is right or how and when it will all take place. Turning the pages to land on Luke 21, there we see Abbas’ threat fully realized and come to life. Tomorrow’s headline still can’t catch up to the power of the King James Bible. See Abbas’ threat fulfilled here:
“And when ye shall see Jerusalem compassed with armies, then know that the desolation thereof is nigh. Then let them which are in Judaea flee to the mountains; and let them which are in the midst of it depart out; and let not them that are in the countries enter there into. For these be the days of vengeance, that all things which are written may be fulfilled.” Luke 21:20-22 (KJV)
Jerusalem will indeed be set upon by an invading army during the time of Jacob’s trouble, it will be the armies of Antichrist under the direction of the Catholic pope and millions of Islamic soldiers will stream in like so many cockroaches at your local Motel 6. Where will the church be when this is happening? Safely up in Heaven for we will already have been removed in the Rapture by this point on the timeline. And where will the Jewish remnant be? Safely hiding in the clefts of the red rock city of Selah Petra.
Anytime, Lord, come get us anytime. We are all ready.
PA President Abbas: ‘MILLIONS OF FIGHTERS’ WILL TAKE OVER JERUSALEM
FROM THE FREEBEACON: Mahmoud Abbas, in an Arabic language speech at Jalazone Refugee Camp near Ramallah that was heavy with threats of destruction, doubled down on the Palestinian government’s policy of using public money to pay convicted terrorists and their families, telling his audience, “We will not accept their designation of our martyrs as terrorists. Our martyrs are the martyrs of the homeland.”
Abbas went on to rally those in attendance to swarm the city of Jerusalem and destroy all Jewish people living there. His remarks are the clearest sign to date that the leader has no interest in playing a role in a revamped peace process spearheaded by President Donald Trump’s White House.
“To Jerusalem we march, martyrs by the millions!” he was quoted as saying, according to a translation by the Middle East Media Research Institute, or MEMRI, a media watchdog site.
“We shall enter Jerusalem—millions of fighters! We shall enter it! All of us, the entire Palestinian people, the entire Arab nation, the Islamic nation, and the Christian nation,” Abbas said. “They shall all enter Jerusalem.”
Homes and cities built by Jews and other ethnic groups living in Israel “will all go to the garbage bin of history,” Abbas said.
“We shall remain here, and nobody can remove us from our homeland,” the leader continued. “If they want, they themselves can leave. Those who are foreign to this land have no right to it. So we say to them: Every stone you have [used] to build on our land, and every house you have built on our land, is bound to be destroyed, Allah willing.”
THIS IS WHERE THE JEWS WILL HIDE WHEN THE ARMIES OF ANTICHRIST TAKE OVER JERUSALEM
Pivoting to the payments for convicted terrorists, a policy known as pay to slay, Abbas said the payments will never cease, despite increasing international pressure from the West.
“We will not accept their designation of our martyrs as terrorists,” Abbas said. “Our martyrs are the martyrs of the homeland. We will not allow them to deduct a single penny from their money. All the money will go back to them, because the martyrs, the wounded, and the prisoners are the most sacred things we have.” READ MORE:
PA President Mahmoud Abbas at Jalazone Refugee Camp: We Will Enter Jerusalem as Millions of Fighters
Palestinian President Mahmoud Abbas said in an address at the Jalazone Refugee Camp near Ramallah that the Palestinians cannot be removed from their homeland and that every building built by the Zionist occupation will be destroyed and thrown in the garbage bin of history. He claimed that the Palestinians are the Canaanites who have lived in Palestine for 5,000 years, and he rejected the conferences in Warsaw and Manama as unacceptable to the Palestinian people. He said that Jerusalem belongs to the Palestinians, and the audience began to chant: “The Jerusalem we march, martyrs by the millions!” Abbas continued, saying that the entire Palestinian nation will enter Jerusalem as millions of fighters, along with the Arab, Islamic, and Christian nations, and he said that he rejects the designation of Palestinian martyrs as terrorists. He added that the families of Palestinian martyrs, injured people, and prisoners will continue to receive salaries from the PA because they are the most sacred thing the Palestinians have. The video was uploaded to Abbas’ Facebook page on August 10, 2019.
https://prophecyupdate.blogspot.com/ – By David P. Goldman
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So at the risk of spending the next month dodging rotten eggs and ripe tomatoes, I’ll say it: The way things stand, we’re going to get our heads handed to us, and President Trump’s chances of re-election will drop considerably. I’m a Trump supporter, and I want him to be re-elected, but I think he’s walking into a Chinese trap. Remember, Xi Jinping doesn’t have an election in 2020.
Today’s announcement of Chinese tariffs on $75 billion of U.S. goods and President Trump’s promise of retaliation may mark a turning point. China has taken the offensive. In fact, it did so August 6 when it allowed the RMB to depreciate to less than 7 RMB per U.S. dollar, as I explained in an Asia Times analysis at the time (below).
China appears to believe that it can win a trade war against the United States.
Of course, no-one wins. Both sides lose. The question is how each side deals with the consequences of losing. For the past year, I’ve argued that the time is long past when the U.S. can inflict sufficient pain on China to impose our will. Since the 2008 crisis, China has been shifting its economy toward the home market and away from exports. Only 5% of its manufacturing now goes to the U.S., and most of that is on the low end of the value-added spectrum. When President Trump tweets that we don’t need China, by contrast, he appears unaware of the vast network of specialized manufacturers, skilled engineers and workers, and suppliers that produce the computers and consumer electronics we buy from China. You can’t wave a magic wand and replace twenty years’ worth of investment and training.
Every Mainland Chinese in a position of influence whom I’ve spoken to in the past several weeks tells more or less the same story:
China has 1.4 billion people and has a domestic market big enough to replace most of the demand lost in a trade war;
China has become self-sufficient in virtually all the important technologies it needs to dominate high-tech manufacturing as well as advanced computation;
Washington’s failure to dissuade its allies from buying Huawei’s 5G mobile broadband technology shows that China can’t be stopped.
Trump touched a tripwire last week, moreover, when he linked the trade negotiations to “humane” treatment of the Hong Kong demonstrators. The Chinese think the U.S. is behind the demonstrations and suspect the worst.
U.S. manufacturing, meanwhile, shrank in July for the first time in 10 years, according to the Markit survey of purchasing managers. Manufacturing has shrunk year-on-year, according to the Federal Reserve’s index. That can’t be good for the president’s re-election prospects. He won by carrying the Upper Midwest, and made the restoration of U.S. manufacturing a central commitment of his administration. The U.S. economy is still growing because consumers are spending, but the more they spend, the more we import from China. Consumer demand has NOT supported U.S. manufacturing.
Tariffs are the wrong way to restore U.S. manufacturing (except in special cases, where they are a useful micro-management tool). The right way is to concentrate federal funds on frontier R&D in game-changing technologies and reserve federal education subsidies for engineering and the sciences, as JFK and Reagan did.
The escalating conflict between China and the US will likely be long and debilitating
Today’s stock market crash announces a new and dire phase in the US-China trade war. Beijing has signaled that it is prepared to endure a long and debilitating trade war with the United States, after President Donald Trump announced an additional 10% tariff on $300 billion of Chinese imports following meetings in Shanghai between his top trade officials and their Chinese counterparts.
A reported directive to Chinese companies to refrain from buying US farm products seems an in-your-face challenge to the US president. And China’s decision to let the RMB depreciate past the 7.00 mark rebukes Trump’s insistence that China boosted exports by manipulating its currency.
Still, Trump came out firing on Twitter. “China dropped the price of their currency to an almost historic low. It’s called ‘currency manipulation,’” he tweeted.
Yet China clearly believes that it can boost domestic demand to compensate for reduced exports to the United States, through a combination of monetary ease, tax cuts and public spending. Today’s drop in the RMB to 7.04 to the dollar represented an ease in monetary policy.
The PBOC has undertaken a textbook maneuver under stress. It is doing what the other major central banks of the world do, that is, manage its affairs according to domestic needs, as opposed to the preferences of trading partners.
That leaves Trump with few good alternatives. He has already fired his reserve ammunition, or rather threatened to fire it on September 1 when the new round of tariffs will take effect. He could conceivably impose even harsher tariffs on China, but at a gruesome cost. US consumers already will pay more for consumer electrics before the holiday season, and a punitive tariff would hit consumers right as the next presidential campaign begins.
The trade war evidently has contributed to the sharp slowdown in US economic growth. On Monday the National Association of Purchasing Managers reported the worst print in three years for its widely-followed services gauge. It had reported an even weaker number for manufacturing last week. Tax increases are not the recommended treatment for a slowing economy. Trump, as I wrote last week, is risking a recession by raising taxes on imports.
Trump’s other attempts to put pressure on China have failed. The ban on exports to Huawei has not hindered the telecom giant from proceeding with the rollout of 5G mobile broadband on the whole of the Eurasian continent as well as England. The US also signaled that it would stop Huawei, the world’s second-largest handset manufacturer, from obtaining updates to Google’s Android operating system.
It is far from clear where the trade wars will go from here. For a US president who gauges his success by the stock market, the five-day descent of the major American stock indices cannot be encouraging. But the administration’s combination of bluff and bluster makes de-escalation difficult.
In many ways Trump is the victim of his own success. So skillfully has Trump shaped public opinion about China that he is the victim of his own success. If he appears to show weakness in negotiating with China, his Democratic opponents will savage him.
That leaves us with an all-or-nothing outcome, with nothing looking a bit more probable at the moment. Presidents Trump and Xi could announce a grand deal (or at least something that can be framed to look like a grand deal in the dusk with the light behind it). That would include Chinese farm and fuel imports, some mechanism for dealing with intellectual property issues, China opening its financial sector to directed foreign investment, and so forth.
Or they could do nothing and let the escalation proceed. China evidently believes that its economy will weather another year or two of trade war as well as it did during the past year.
In an unprecedented escalation which could reshape alliances in the Middle East, American officials have confirmed that Israel was behind an airstrike on an Iraqi ammunition depot operated by a pro-Iran militia last month, according to The Associated Press:
Two American officials said Israel carried out an attack on an Iranian weapons depot in July that killed two Iranian military commanders. The U.S. officials spoke on condition of anonymity because they were not authorized to discuss the matter with the media.
The admission comes after two more mystery explosions rocked paramilitary basesin and around Baghdad within the last two weeks, resulting in multiple paramilitary members killed, at least one civilian death, and dozens of injured, and which prompted Iraq’s Prime Minister Abdul-Mahdi to close the country’s airspace to all “unauthorized flights”.
Baghdad has threatened “strong response” if it is confirmed Israeli drones or jets are behind the attacks, and further the military is ready to shoot down any unauthorized aircraft over Iraqi soil.
Amid the spate of ‘mystery explosions’ recently rocking the Iraqi capital, Israeli Prime Minister Benjamin Netanyahu on Monday of this week actually seemed to positively boast that the Israeli Air Force was behind airstrikes on pro-Iran militia bases in Iraq, saying that Israel will “continue to act militarily” to curtail Iranian expansion in the region, according to The Times of Israel.
“Iran has no immunity, anywhere,” he told reporters while on a state visit to Kiev early this week. He was responding to a specific question about the mystery attacks on Iraq. “We will act — and currently are acting — against them, wherever it is necessary,” he declared.
“We act in many arenas against a country that desires to annihilate us. Of course I gave the security forces a free hand and the instruction to do what is needed to thwart these plans of Iran,” Netanyahu said.
Both Israeli and Arabic media took it as a tacit admission that Israel is now conducing air raids over Iraqi soil — which if confirmed would mark a huge escalation following repeat airstrikes on Syria of the past couple years.
The terrorist attack at a spring near Dolev on Friday, in which Rina Shnerb was killed and her father and brother were injured, was far from a bolt from the blue given the current atmosphere among Palestinians in the West Bank. And there are growing concerns that things could get far worse.
As so often in the past, the initial reaction from some in Prime Minister Benjamin Netanyahu’s government focused on the Palestinian Authority and its president, Mahmoud Abbas, blamed as the inciter of terrorism. Transportation Minister Bezalel Smotrich, for instance, called for the dismantling of the PA and Israeli annexation of the West Bank, neglecting to mention that the PA has been working in coordination with the IDF to try to thwart terror attacks.
The ferment among West Bank Palestinians, the growing calls for violence and the escalation in terrorism are being stirred from Gaza by its ruling terror group, Hamas, in its ongoing face-off with Netanyahu.
What Netanyahu’s bitter critic and former defense minister Avigdor Liberman described Friday as the prime minister’s “surrender” to the terrorists — his agreement to allow Qatar to distribute funds in Gaza to needy families (and in the past to Hamas employees), the easing of certain restrictions at border crossings, the improved electricity supply — amid intermittent rocket fire from Gaza into Israel, is seen on the Palestinian side as proof of weakness. Weakness to be exploited.
Israel is understood to be capitulating to Hamas demands, more than in the past, precisely when the level of violence is rising — with the rocket attacks, attempts by armed infiltrators to breach the Gaza border fence, violent demonstrations at the border and more.
The Israeli government, including Minister Smotrich of course, is seen to be following a policy of seeking to pay off Hamas in return for relative calm. This is being internalized in the West Bank too, which means not only that more terrorism seems likely, but that the West Bank is generally in greater ferment, with Fatah activists also perceiving an Israeli capitulation.
The rising tension also comes after six months during which the PA — fuming that Israel was holding back part of the tax funds it collects on behalf of Ramallah, to compensate for the PA’s payments to the families of dead terrorists and to jailed terrorists and security prisoners — refused to accept any of the tax payments at all. That meant some 160,000 employees were receiving only half their salaries. This week, the PA announced that it had accepted a partial payment, of just over half a billion dollars, after reaching an agreement with Israel on the issue, in order to avert the collapse of the PA.
The reduced salaries are only one factor behind the rising tensions in the West Bank. There is also the diplomatic crisis between the US and Israel on one side, and the Palestinians on the other. Even as Israel celebrates the pro-Israel declarations of the Trump administration and the growth of settlements, such moves prompt rising antipathy, and calls for violence, on the Palestinian side, including within Abbas’s Fatah faction.
There are indications that we could be near to an eruption of terrorism and/or widespread protests akin to the start of the second intifada in 2000 or the so-called “stabbing intifada” in the fall of 2015.
Needless to say, Hamas is doing its utmost to exploit the bitterness in the West Bank. The Gaza leadership (even as it negotiates indirectly with Israel), and the leadership overseas headed by Saleh al-Arouri, are working relentlessly to orchestrate terror attacks in the West Bank. Most are being thwarted. But, as we saw on Friday, not all.
https://prophecyupdate.blogspot.com/ – Elad Benari
French President Emmanuel Macron said on Wednesday that he did not hang his hopes on US President Donald Trump’s peace deal for Israel and the Palestinian Authority.
Macron told Kan News that an agreement cannot be imposed on parties that do not want to negotiate.
“I am no longer waiting for President Trump’s ‘Deal of the Century’. But I am continuing to work on suggestions in this regard,” said the French President.
The peace initiative, partially unveiled at a Bahrain conference in June, dangled the prospect of pumping $50 billion-worth of investment into the Palestinian Authority economy.
Little is known about the political component of the peace plan, but Jared Kushner, Trump’s senior adviser and one of the authors of the plan, indicated in April that the plan would not focus on the two-state solution.
Earlier this week, Trump said he will likely wait until after the September elections in Israel to release his peace plan, but added that he could release some parts of the plan before the elections.
European countries have backed the PA and have stressed the importance of the “two-state solution” to the decades old conflict with Israel.
In April former European officials, including former prime ministers and foreign ministers, called on the European Union to reject Trump’s proposed peace plan.
IS A NEW FINANCIAL SYSTEM ON THE WAY? BOE’S MARK CARNEY URGES REPLACING DOLLAR WITH LIBRA-LIKE RESERVE CURRENCY
IN UNPRECEDENTED, SHOCKING PROPOSAL, BOE’S MARK CARNEY URGES REPLACING DOLLAR WITH LIBRA-LIKE RESERVE CURRENCY
After Jerome Powell’s neutral-to-slightly-dovish-but-mostly-boring speech on Friday morning, investors could be forgiven for suspecting that this year’s Fed-sponsored gathering in Jackson Hole might be disappointingly dull (especially with all that’s going on in Trump’s twitter feed, the escalating trade war and escalating geopolitical unrest).
Then along came former Goldman banker and current (outgoing) BOE governor, Mark Carney, who in his lunchtime address laid out a shocking, radical proposal – perhaps the most stunning thing to ever be unveiled at Jackson Hole – urging to replace the US Dollar with a “Libra-like” reserve currency in a dramatic revamp of the global monetary, financial and economic order.
While it was unclear if Carney was focusing on Libra as the new reserve currency, or simply was hoping to find something against which the dollar could be devalued, the proposal was clearly shocking as it suggests that the central bank quiet acceptance of cryptocurrencies (especially in Japan) has been what many have speculated all along: a “currency” against which fiat money can be devalued in hopes of sparking fiat hyperinflation that inflates away record amounts of fiat debt.
Of course, such a new system would bring about the end of US hegemony, and effectively end the dollar-based global financial system, dramatically scaling back the US’s influence in the global economy, and making rising powers like China and Russia critical players an increasingly multipolar world….
…especially if they propose a gold-backed dollar alternative to the world. That this would quickly emerge as the new reserve currency – together with whatever stablecoin/crypto central bankers deign to be the dollar’s replacement – goes without saying.
Carney’s proposal comes just a few months before he’s due to step down from his position leading the Bank of England.
We note that, because it is a well known fact that central bankers tend to speak the truth once they have quit their position of power and influence. Yet it is quite shocking for Carnery to do so while still in office; the bottom line, Carney sounded like nothing less than an Austrian-school economist, who admits that the existing neo-liberal/Keynesian system has collapsed.
“In the longer term, we need to change the game,” Carney said. “When change comes, it shouldn’t be to swap one currency hegemon for another.”
This is where, if Carney indeed speaks for his central banking peers, one can say “game over” for the fiat system, which now even establishment members admit will need to devalue against something outside of the fiat system, such as Gold (as Pimco’s Harley Bassman suggested back in 2016), or cryptocurrency/stable coins, like Libra.
There has hardly been a more appropriate time for such a proposal. Trade wars and now the threat of currency wars are upending multilateral cooperation. Central bankers are trapped in a low interest-rate world, and the threat of Modern Monetary Theory has reared its ugly head. Yet, the establishment has so far been unable to come up with its own alternative to combat MMT.
“The combination of heightened economic policy uncertainty, outright protectionism and concerns that further, negative shocks could not be adequately offset because of limited policy space is exacerbating the disinflationary bias in the global economy,” Carney said. “What then must be done?”
Well, the creation of a virtual non-fiat currency, against which all other central-bank backed fiat currencies could be devalued, is certainly one solution.
Which means that the only practical alternative is a central bank endorsed cryptocurrency, or – wait for it – gold.
In light of this shocking capitulation by a member of the central bank establishment, we leave you with some levity, as the alternative is simply dire, and what happens next as the fiat world unwinds – or devalues against some non-fiat construct – will be very unpleasant for all those who are unprepared and had believed that central bankers actually know what they are doing. Luckily, none of our readers fall into that category.
August 23, 2019 by Michael Snyder – http://theeconomiccollapseblog.com/