This Happened On Planet Earth…July 2019…End Times Signs
Published on Jul 25, 2019
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Matthew 24:3-14 3 Now as He sat on the Mount of Olives, the disciples came to Him privately, saying, “Tell us, when will these things be? And what will be the sign of Your coming, and of the end of the age?” 4 And Jesus answered and said to them: “Take heed that no one deceives you. 5 For many will come in My name, saying, ‘I am the Christ,’ and will deceive many. 6 And you will hear of wars and rumours of wars. See that you are not troubled; for all[a] these things must come to pass, but the end is not yet. 7 For nation will rise against nation, and kingdom against kingdom. And there will be famines, pestilences,[b] and earthquakes in various places. 8 All these are the beginning of sorrows. 9 “Then they will deliver you up to tribulation and kill you, and you will be hated by all nations for My name’s sake. 10 And then many will be offended, will betray one another, and will hate one another. 11 Then many false prophets will rise up and deceive many. 12 And because lawlessness will abound, the love of many will grow cold. 13 But he who endures to the end shall be saved. 14 And this gospel of the kingdom will be preached in all the world as a witness to all the nations, and then the end will come.
BRINK OF WW3!! AMERICA SENDS THOUSANDS TROOPS TO SAUDI MILITARY BASE!
The Judgement of Helel Ben Shachar Genesis 3
LATEST WORLD NEWS CLIPS – ARTICLES – THURSDAY JULY 25th 2019
John 8:32 And ye shall know the truth, and the truth shall make you free
“My people are destroyed for lack of knowledge” (Hosea 4:6)
1Cor. 12:3 Wherefore I give you to understand, that no man speaking by the Spirit of God calleth Jesus accursed: AND THAT NO MAN CAN SAY THAT JESUS IS THE LORD, BUT BY THE HOLY GHOST.
THE TRIBULATION OF THE UNJUST (Those who have rejected Jesus Christ as their Saviour) IN THE BOOK OF REVELATION CHAPTER’S 6 to 22:
TRIBULATION IS COMING AND THE REMOVAL OF THE CHURCH IS IMMINENT.
THE GREAT “DECEPTION” IS READY TO BE IMPLEMENTED BY THE ONE WORLD GOVERNMENT. ARE YOU READY FOR JESUS CHRIST RETURN
Rev. 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth:
Luke 12:37 Blessed are those servants, whom the lord when he cometh shall find watching: verily I say unto you, that he shall gird himself, and make them to sit down to meat, and will come forth and serve them
so won’t you accept Jesus now and be removed from that event and live forever with Jesus in the Family of God?
2 “(For he saith, I have heard thee in a time accepted, and in the day of salvation have I succoured thee: behold, now is the accepted time; behold, now is the day of salvation.)” (2nd Corinthians 2:6)
DAILY CHRISTIAN BIBLICAL QUESTIONS AND ANSWERS:
Blessing And Cursing
QUESTION: I know God wants us to love everyone as if they were our brother. But if God said that He will curse those who curse Israel are we also permitted to do the same?
I have a hard time with having a loving feeling towards anyone who hates Israel. Could you please advise me of what you think.
Thanks for your blessed work. We really need your guidance and knowledge of understanding prophecy at this time.
ANSWER: God reserves the right of vengeance to Himself (Deuteronomy 32:35)
As for us, we’re required to love our enemies (Matthew 6:44)
In His promise to Abraham , He said that He would bless and He would curse. Throughout the Old Testament He did this through both human and supernatural agencies but it was always at His direction. I believe we can have sympathy toward Israel without hating Israel’s enemies.
It helps to remember that in the Middle East the people actually dying are under the powerful influence of a religion that has taught them that persecuting Israel is God’s will, and that obedience brings great rewards. It’s the only thing they’ve ever heard.
As for Christian anti-Semites, many of them are also life long victims of false teaching. The heresy called replacement theology has misled much of denominational Christianity, from which many of us have sprung, into believing that the Church has inherited the promise of Israel, and therefore there’s no reason for a Jewish Homeland today.
Both these groups are in desperate need of our intercessory prayer.
The more we see the fruition of God’s plan in the events of the nation of Israel the more difficult it is to remain objective in our view of Israel’s enemies. But while at His return the Lord distributes great rewards to those who helped “these brothers of mine,” there’s no such recognition for those who hated their enemies.
QUESTION: A thought has occurred to me…If Christians are saved by grace, and sealed with the Holy Spirit, what about “Christians” Who curse Israel? Some mainline Protestants seem to blame Israel for all the world’s problems. Their anti-semitic rants must rile the Lord. Would Gen. 12:3 apply?
ANSWER: If a person is truly saved and has been taught some form of replacement theology or has an anti-Israel bias from some other source, God will forgive this even though it grieves His Spirit to have one of His children feel this way. I’m not saying that believers have to blindly go along with whatever the Government of Israel does. The Bible said that Israel would be re-gathered in unbelief and we know its government is secular and has yet to acknowledge God’s hand upon them. That will soon change.
But in the meantime Bible believing Christians should understand that God’s gift of the promised land to Israel is “an everlasting possession” (Genesis 17:8). We should know that He promised them He would bring them back into the Land in the latter days, (Isaiah 11:11) and that selling it or giving it away is prohibited. (Leviticus 25:23) So on that issue there should be no doubt.
Aside from the fact that it hasn’t worked, efforts to try and achieve peace by giving His land away are contrary to His will and put those encouraging or supporting it in opposition to Him. It goes without saying that a believer should not support something that is in opposition to God’s will. It’s a losing strategy. Will it endanger their salvation? No, but it does grieve the Holy Spirit, something we’re advised to avoid. (Ephes. 4:30)
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I AM GOING TO MAKE JERUSALEM A CUP THAT SENDS ALL THE SURROUNDING PEOPLES REELING … Zech. 12:2
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:
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
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WORLD – PROPHETIC NEWS ARTICLES PRESENTATION – THURSDAY JULY 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
It is funny – for decades we have never had any problems with commercial ships passing through the Persian Gulf, but all of a sudden it has become a major flashpoint. As you will see below, the Iranians are now warning that they plan to “secure” the Strait of Hormuz, and meanwhile a plan for a European-led naval task force to confront the Iranians is rapidly coming together. The seizure of a British tanker a few days ago really rattled British officials, and they are determined to make sure that it doesn’t happen again. Of course the more the Persian Gulf region becomes saturated with military assets, the more likely it is that a “mistake” will happen, and it sure won’t take much of a spark to start World War 3 at this point.
Today, close to 20 percent of all the oil produced in the entire world passes through the Strait of Hormuz, and that makes it an exceedingly important waterway. U.S. and European officials continue to stress the importance of freedom of navigation through the area, and they appear to be losing patience with the Iranians.
But Iran does not intend to back down one bit. On Tuesday, Iranian Deputy Foreign Minister Abbas Araqchi said that his country “will use its best efforts” to secure the Strait of Hormuz. The following comes from the Jerusalem Post…
“Iran will use its best efforts to secure the region, particularly the Strait of Hormuz, and will not allow any disturbance in shipping in this sensitive area,” Araqchi told French Foreign Minister Jean-Yves Le Drian, IRNA reported.
So what does that mean exactly?
Do the Iranians plan to keep grabbing oil tankers whenever it suits them?
The seizure of the Stena Impero pushed us dangerously close to war, and the British government is still hoping that negotiations will result in the release of that tanker.
However, the British also plan to flex their military muscles in order to keep such an incident from happening again, and they are calling for other European nations to join them…
France, Italy and Denmark gave initial support for a British plan for a European-led naval mission to ensure safe shipping through the Strait of Hormuz, proposed after Iran’s seizure of a British-flagged tanker, three senior EU diplomats said on Tuesday.
The cautious backing at a meeting of EU envoys in Brussels contrasts sharply with the lukewarm response shown by European allies to a similar American call first voiced at NATO in late June, when countries feared they could make U.S.-Iranian tensions worse.
Could this be the very beginning of a “coalition of the willing”?
According to Reuters, this task force would likely include “aircraft too”, and that is definitely raising some eyebrows…
British foreign ministry and defense officials have also discussed a possible mission, which would likely involve not just ships but aircraft too, directly with their Italian, Spanish, French and German counterparts.
A senior German diplomat in Berlin said Foreign Minister Heiko Maas was in close contact with his British and French counterparts, Hunt and Jean-Yves Le Drian, to “contribute to the security” of the Gulf including on maritime security.
Meanwhile, the U.S. military is making headlines as well. In an interview with CBS News, CENTCOM Commander General Kenneth McKenzie claimed that U.S. forces may have actually shot down at least two Iranian drones last week…
The U.S. believes it may have brought down two Iranian drones last week, rather than just the one that has been reported, CENTCOM Commander Gen. Kenneth McKenzie told CBS News’ David Martin in an interview Tuesday aboard the USS Boxer, the ship that took action against the drones. Asked by Martin whether it was “only one drone,” McKenzie revealed that he believed the Boxer had engaged two drones “successfully” and perhaps even more.
“As always it was a complex tactical picture, we believe two drones. We believe two drones were successfully — there may have been more that we are not aware of — those are the two that we engaged successfully,” said McKenzie.
We should be very thankful that there is no more shooting for the moment, but that could change at any time.
And even if things stabilize in the short-term, the truth is that it is going to be exceedingly difficult to stop the countdown to war at this point. The U.S. and Israel have both made it exceedingly clear that they will never allow the Iranians to develop their nuclear program past a certain level, and the Iranians have been racing to move their program forward ever since the U.S. left Obama’s nuclear agreement.
Unless there is some sort of crazy miracle and another nuclear agreement happens, it appears that war is on the horizon.
Also, I wanted to mention that we just witnessed a very alarming “incident” off the coast of South Korea on Tuesday…
South Korea’s Joint Chiefs of Staff issued a statement claiming they had fired more than 300 warning shots at a Russian A-50 command and control military aircraft early Tuesday morning after it had twice violated the country’s airspace, the first such incident between the countries.
Moscow furiously denied Seoul’s account of the encounter, claiming that South Korean military jets had dangerously intercepted two of its bombers during a planned flight over neutral waters.
That is a huge number of “warning shots”, and it is yet another example of how tense things are all over the world at this point.
Without a doubt, we are living during a time of “wars and rumors of wars”, and once World War 3 begins we will not be able to stop it.
So let us pray for peace, because the alternative is too horrible to even think about right now.
by Tyler Durden
Hopefully it doesn’t lead to a let’s roll! moment at the White House, where super-hawk national security adviser John Bolton has no doubt been itching for escalation: moments ago Iran’s Deputy Foreign Minister announced military forces will “secure” the Strait of Hormuz.
Iran will “not allow disturbance in shipping in this sensitive area” Deputy Foreign Minister Abbas Araghchi was quoted as saying in state media, while leading a delegation to Paris, Reuters reports. However, it’s unclear at this point how far Iran is willing to go in this escalating game of chicken with the US and UK – both of which have warships and other military assets in the gulf region.
“Iran will use its best efforts to secure the region, particularly the Strait of Hormuz, and will not allow any disturbance in shipping in this sensitive area,” Araqchi told French Foreign Minister Jean-Yves Le Drian during a meeting.
The announcement comes amidst threats and counter threats ongoing between London and Tehran, with each demanding the release of their tanker. Early this month the Royal Navy seized the Grace 1, carrying 2 million barrels of oil, off Gibraltar; and in turn Iran last Friday captured the British-flagged Stena Impero in the Strait of Hormuz.
To be sure, this is not the first time Iran has made such a threat: back in April and before that in December Iran warned it would close the global oil chokepoint, when it said that “if someday, the United States decides to block Iran’s oil (exports), no oil will be exported from the Persian Gulf.”
Meanwhile, Iranian vice-president, Eshaq Jahangiri, said that Iran rejects UK-led attempts to establish a “joint European task force” to monitor and patrol the Persian Gulf in order to protect international shipping, countering that it would only bring “insecurity”.
“There is no need to form a coalition because these kinds of coalitions and the presence of foreigners in the region by itself creates insecurity,” he said. And added, “And other than increasing insecurity it will not achieve anything else.” France, Italy, the Netherlands and Denmark indicated Tuesday they would support a European-led naval mission to ensure international vessels’ safe passage in the gulf.
Is Iran now making good on its threats to block global oil shipping out of the vital strait?
Reuters / Gil Nahushtan
Missiles presumably fired by Israeli jets have struck a strategic mountain area of Tal al-Hara in the Daraa province of Syria, causing material damage but no casualties, state media has reported.
Tal al-Hara is the highest point in the Daraa governorate and overlooks the Golan Heights, which Israel occupied in 1967 and annexed in 1981. Israel has struck the strategic location before, firing a number of missiles at Tal al-Hara on June 12.
The Israeli military does not usually comment on airstrikes against Syria, with the official line in Tel Aviv being that they are part of defending Israeli national security by any means necessary. PM Benjamin Netanyahu has vowed to continue attacking “Iranian” forces in Syria – including the local Hezbollah militia, backed by Tehran – which are helping Damascus against militants and Islamic State (IS, formerly ISIS) terrorists.
Syria has repeatedly condemned the attacks as a violation of its sovereignty and said they boost the morale of the remaining terrorists. On Tuesday Damascus once again urged the UN to put an end to Israeli strikes and intervene to stop these violations, without effect.
By TOI STAFF
Israel’s ambassador to the United Nations on Tuesday accused Iran of exploiting civilian companies and maritime channels to smuggle weapons manufacturing equipment to its Lebanese proxy group, Hezbollah.
In the quarterly meeting on the Middle East, Ambassador Danny Danon told the Security Council that Israeli intelligence has uncovered evidence showing Iran’s Quds Force has been using the port of Beirut to ship items to the terror group since last year.
“In the years 2018-2019, Israel found that dual-use items are smuggled into Lebanon to advance Hezbollah’s rocket and missile capabilities,” he said.
“Iran and the Quds Force have begun to advance the exploitation of the civilian maritime channels, and specifically the Port of Beirut,” Danon said. “The Port of Beirut has become the Port of Hezbollah.”
In a statement, the Israeli mission said “Syrian agents” purchased the dual use items from foreign companies under false pretenses, and handed it over to the terrorist group after picking up the shipments from the port.
Danon presented the Security Council with a map of the Hezbollah transfer routes that included major hubs at the Damascus airport, Beirut’s port and airport and the official border crossings between Syria and Lebanon, such as the Masnaa crossings.
He said the weapons transfers violated UN resolution 1701, which ended the 2006 Second Lebanon War between Hezbollah and Israel.
Danon did not detail what items were obtained by the terror group through these means or name the companies behind the shipments.
On Friday, several Hezbollah commanders told the Daily Beast that the Iran-backed group was deploying forces for a possible war with Israel, warning that the growing pressure from US sanctions on Tehran could trigger such a conflict sooner rather than later.
The officers said Hezbollah forces were setting up for war on both Lebanon’s and Syria’s border with Israel, and their fighters were better prepared to confront Israel than in 2006, after sending thousands to fight alongside the troops of President Bashar Assad in Syria.
In the years since the 2006 summer war, Israel has repeatedly accused Hezbollah of violating resolution 1701, which calls for all armed groups besides the Lebanese military to remain above the country’s Litani River. Israel maintains that Hezbollah is in constant violation of this, keeping a significant percentage of its 100,000-strong arsenal of rockets and mortar shells in southern Lebanon, as well as conducting patrols and other military activities along the border.
Hezbollah, Baram said, was “building infrastructure in the villages right here across [the border] and trying to threaten us with attack forces.”
The IDF Northern Command chief said that in a future war against the terror group the country of Lebanon was likely to “pay a heavy price” for allowing Hezbollah to take root there.
Israel has accused Iran of seeking to establish a military presence in Syria that could threaten Israeli security and attempting to transfer advanced weaponry to Hezbollah, which Jerusalem has vowed to prevent.
Syrian state media on Tuesday night reported Israel carried out airstrikes in the nation’s south, close to the Israeli border.
Local media reported that air defenses short down several missiles around half past midnight.
State news agency SANA and state TV added that the “Israeli aggression” struck al-Harra hill that is home to Syrian army posts adding that it only caused material damage and did not inflict any casualties.
According to Reuters Western intelligence sources have said the area is home to several Iranian-backed militias.
The Israeli military has acknowledged carrying out hundreds of airstrikes in Syria in recent years, on targets linked to Iran, which is backing President Bashar Assad’s regime in the Syrian civil war.
The last reported strikes took place earlier this month, when multiple Iranian-linked targets were hit near Homs and Damascus, reportedly killing 15 people including six civilians.
Syria then accused Israel of committing “state terrorism.”
Israel did not comment on the attack — one of the most extensive series of strikes in several months.
Syria’s foreign ministry filed a complaint with the United Nations Security Council over the attack, demanding accountability, according to the official SANA news agency.
A private Israeli intelligence firm identified one of the sites targeted in the alleged Israeli airstrike as a hangar likely storing advanced weaponry or other military equipment.
ImageSat International, a satellite imagery analysis firm, released a photograph of one of the targets, a hangar located at the Syrian Scientific Studies and Research Center (SSRC) in Jamraya, outside Damascus.
The Hezbollah terror group and Iran’s Islamic Revolutionary Guard Corp have been said to maintain a presence at the Jamraya facility.
EREZ LINN AND DANIELLE ROTH-AVNERI
As tensions in the Persian Gulf continue to rise, commanders of the Lebanese terrorist group say it is “ready to initiate hostilities, if and when Tehran deems that necessary.”
View of the border fence between Israel and Lebanon as seen from the northern Israeli town of Metula, April 20, 2019. Photo by Flash90.
Hezbollah is reportedly deploying its forces on the Lebanon-Israel border, The Daily Beast reported over the weekend, linking the move by the Iranian-backed Shi’ite terrorist group to the rising tensions in the Persian Gulf.
According to the report, while the majority of the deployment has taken place on the Lebanon-Israel border, Hezbollah has also bolstered its forces in the Syrian Golan Heights.
A Hezbollah commander The Daily Beast identified only as “Samir” said the group was feeling the bite of the sanctions the United States has imposed on Iran, which he said have cut into Hezbollah’s budget. The salaries of Hezbollah fighters have been cut in half, according to the report.
Hezbollah is “ready to initiate hostilities—if and when Tehran deems that necessary,” said Samir. “The sanctions now have us preparing for dealing with the Israeli front. … We will fire the first shot this time,” he said.
He further boasted that Hezbollah has new drone capabilities and new anti-aircraft and anti-naval weapons acquired in Syria, alongside a more seasoned fighting force. He emphasized the importance of the Lebanese terrorist group’s positions in the Syrian Golan, which he said give it the ability to open a second front against Israel.
According to the report, Samir is in charge of 800 fighters on Lebanon’s border with Israel.
Israeli military intelligence pegs Hezbollah’s missile arsenal at 150,000, and estimates that all of Israel is within their range.
“Our wish before the war in Syria was to go and open a front in the Golan but [the Syrian government] set a red line,” said Samir, referring to the limitations Syrian President Bashar Assad imposed on Hezbollah’s activities in Syria prior to the onset of the 2011 civil war.
“Now there are no red lines,” he said.
Blue and White leader Benny Gantz commented on the report, saying that Hezbollah leader Hassan Nasrallah “knows well that any threat to Israel will meet a forceful response. He has to understand that this time, he won’t be able to make it back to the bunker.”
Nasrallah has been in hiding since the 2006 Second Lebanon War and is believed to be living in a bunker from which he rarely emerges.
In a speech last Friday marking the 13th anniversary of the 2006 Second Lebanon War, Hezbollah leader Hassan Nasrallah boasted of the terrorist organization’s expanded military capabilities and threatened that another war would “bring Israel to the brink of extinction.”
Israeli Prime Minister Benjamin Netanyahu responded on Sunday by threatening to deal Lebanon and Hezbollah “a crushing military blow” if Hezbollah attacks.
by Soeren Kern
An examination of von der Leyen’s main policy proposals reveals that she is calling for a massive expansion of top-down powers of the European Commission. Her proposals would substantially increase the role of Brussels in virtually all aspects of economic and social life in Europe — all at the expense of national sovereignty.
Von der Leyen warned that Brussels would overrule EU member states opposed to her tax overhaul… She called for a comprehensive “European Rule of Law Mechanism” to ensure the primacy of EU law over the national laws of EU member states. She warned that there would be financial consequences for member states that refuse to comply…. She called for a change in rules so that the EU could act even without the unanimous consent of EU member states.
“What you’ve seen from Ursula von der Leyen today is an attempt by the EU to take control of every single aspect of our lives. She wants to build a centralized, undemocratic, updated form of Communism that will render [obsolete] nation state parliaments, where the state controls everything, where nation state parliaments will cease to have any relevance at all.” — Nigel Farage, European Parliament, July 16, 2019.
Former German Defense Minister Ursula von der Leyen has been narrowly confirmed as the next President of the European Commission, the powerful administrative arm of the European Union.
In a secret ballot in the European Parliament on July 16, von der Leyen, a close ally of German Chancellor Angela Merkel, received 383 votes, only nine more than the 374 required — the lowest margin since the position of President was established in 1958. She will take over from Jean-Claude Junker in November 2019 for a five-year term.
Before the vote, von der Leyen promised an ambitious left-leaning policy program on climate change, taxes, migration and the rule of law. Many of her pledges — which would require transferring yet more national sovereignty to unelected bureaucrats in Brussels — appeared aimed at enticing support for her candidacy from Greens and Socialists in the European Parliament.
In the final vote, however, the Socialists were divided in their support for von der Leyen and the Greens formally opposed her. Interestingly, von der Leyen won with the support of eurosceptics in Central and Eastern Europe after she publicly criticized the way the EU has treated them due to their opposition to mass migration.
In the past, von der Leyen has called for the creation of a European superstate: “My aim is the United States of Europe, on the model of federal states such as Switzerland, Germany or the United States,” she said in an August 2011 interview with the German newsmagazine Der Spiegel. More recently, however, she appeared to scale back her ambitions: she said that her dream of a federalized EU had become “more mature and more realistic.” In comments apparently aimed at appeasing Central and Eastern Europe, she added: “In the European Union, there is unity in diversity. That is different from federalism. I think that is the right way.”
An examination of von der Leyen’s policy proposals, however, reveals that she is calling for a massive expansion of top-down powers of the European Commission. Her proposals would substantially increase the role of Brussels in virtually all aspects of economic and social life in Europe — all at the expense of national sovereignty.
Following is a brief summary of von der Leyen’s main proposals for the next five years, as outlined in a 24-page document titled, “My Agenda for Europe”:
Almost eight year ago, we first presented a chart first created by JPMorgan’s Michael Cembalest, which showed very simply and vividly that reserve currencies don’t last forever, and that in the not too distant future, the US Dollar would also lose its status as the world’s most important currency, since it is never different this time.
As Cembalest put it back in January 2012, “I am reminded of the following remark from late MIT economist Rudiger Dornbusch: ‘Crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.’”
Perhaps it is not a coincidence then that in light of the growing number of mentions of MMT and various other terminal, destructive monetary policies that have been proposed to kick on the current financial system the can just a little bit longer, that the topic of longevity of reserve currency status is once again becoming all the rage, and none other than JPMorgan’s Private Bank ask in this month’s investment strategy note whether “the dollar’s “exorbitant privilege” is coming to an end?”
So why is JPM, after first creating the iconic chart above which has since spread virally across all financial corners of the internet, not only worried that the dollar’s reserve status may be coming to an end, but in fact goes so far as to state that “we believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments.”
Read on to learn why even the largest US bank has started to lose faith in the world’s most powerful currency.
IS THE DOLLAR’S “EXORBITANT PRIVILEGE” COMING TO AN END?
The U.S. dollar (USD) has been the world’s dominant reserve currency for almost a century. As such, many investors today, even outside the United States, have built and become comfortable with sizable USD overweights in their portfolios. However, we believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments.
Recent data on currency reserve holdings among global central banks suggests this shift may already be under way. As a share of overall central bank reserves, the USD’s role has been declining ever since the Great Recession (see chart). The most recent central bank reserve flow data also suggests that for the first time since the euro’s introduction in 1999, central banks simultaneously sold dollars and bought euros.
Central banks across the globe are also adding to gold reserves at their strongest pace on record. 2018 saw the strongest demand for gold from central banks since 1971 and a rolling four-quarter sum of gold purchases is the strongest on record. To us, this makes sense: gold is a stable source of value with thousands of years of trust among humans supporting it.
Trade Wars have long-term consequences
The current U.S. administration has called into question agreements with nearly all of its largest partners—tariffs on China, Mexico and the European Union, renegotiating NAFTA, as well as abandoning the Trans Pacific Partnership. A more adversarial U.S. administration could also encourage countries to reduce their reliance on USD in trade. Currently 85% of all currency transactions involve the USD despite the U.S. accounting for only roughly 25% of global GDP.
Countries around the world are already developing payment mechanisms that would avoid using the dollar. These systems are small and still developing but this is likely to be a structural story that will extend beyond one particular administration.
SOUTH KOREA AND RUSSIA HAVE ‘MIDAIR CONFRONTATION’: 360 ROUNDS OF WARNING SHOTS FIRED AT RUSSIAN JET
For the first time since the fall of the Soviet Union, Russian jets flying through South Korean airspace provoked the South Korean military into a “midair confrontation” that involved firing hundreds of warning shots. All told, South Korean jets fired 360 machine-gun rounds and at least 20 flares, Bloomberg reports.
Three Russian military planes (two Tu-95 bombers and one A-50 airborne early warning and control aircraft) entered South Korea’s air defense identification zone off the country’s east coast, the South Korean Defense Ministry said. South Korean fighter jets scrambled in response, and fired 80 rounds of machine gun fire and 10 flares – what they described as “warning shots.”
Two Chinese bombers joined with the Russian planes on Tuesday, and even violated South Korea’s airspace from the Southwest, though media reports didn’t specify whether they were participating in some kind of exercise with the Russian planes, or whether it was a separate incident entirely. It’s not uncommon for Chinese jets to wander into South Korean airspace.
The Russian jets retreated, but one of them returned later, prompting South Korea to scramble its jets again for a second confrontation. This time, they fired 280 machine-gun rounds, and another 10 flares.
South Korea wasn’t the only country to lodge a protest. Japan’s Chief Cabinet Secretary Yoshihide Suga made what the Japanese government described as a “stern protest” to Russia, based on the perception that the Russian plane violated Japanese airspace.
The former Soviet Union supported the North during the Korean War, which left millions of Koreans dead. In 1983, a Soviet fighter jet fired an air-to-air missile at a South Korean passenger plane that strayed into Soviet territory, killing all 269 people on board. In later years, diplomatic relations between the two countries gradually improved in the years before the Soviet Union fell.
Moscow swiftly denied that its jets had violated South Korean airspace, and it also denied that the “mid-air confrontation” had taken place.
The airspace allegedly violated by Russia lies over a string of South Korea-held islands roughly halfway between South Korea and Japan, which makes it a sensitive area.
South Korea and Japan remain locked in a trade confrontation that has prompted a slowdown in the South Korean export machine. But for a short time on Tuesday, they shared an adversary. But whatever Russia was trying to accomplish with these exercises – if anything – remains unclear.
ISRAEL WATCH: ENEMY IN THE CAMP
Jim Fletcher – [email protected]
There’s been a lot of ink lately about whether Israel’s Benjamin Netanyahu will deny entry into the country by radical U.S. House members Ilhan Omar and Rashida Tlaib (of Minnesota and Michigan, respectively).
Omar in particular has been a lightning rod of controversy since her election. The Somalia-born representative of Minnesota’s 5th congressional district, which includes Minneapolis, is widely known for her viciously anti-Semitic statements.
Tlaib, perhaps most famous for her extremely vulgar vow to take down President Trump, is from Detroit. Her parents were born in Ramallah and east Jerusalem.
Let me clear about something: there are still far too many Americans who either don’t understand what people like this are, or they stick their heads in the sand.
Maybe that will delay their beheadings one day.
Omar has introduced a pro-BDS resolution into Congress. Of course this refers to the totalitarian-style “Boycott/Divestment/Sanctions” movement designed to cripple Israel economically.
(By the way, Omar was preceded in office by Keith Ellison, the first Muslim to hop out of the Trojan Horse and land in Congress. He is now attorney general of Minnesota! Their aim is to eventually establish sharia law in the U.S., and conquer our country for Allah. If you don’t believe me, educate yourself.)
The women are apparently headed to Israel soon.
“Israeli Ambassador to the US Ron Dermer announced Friday evening that ‘out of respect for the US Congress and the great alliance between Israel and America, we would not deny entry to any member of Congress into Israel.’”
It isn’t a sure thing that the visits will take place, but I disagree with the decision to let them enter Israel, if that indeed takes place. Look, Israel’s security is set and I don’t worry about that, but I do question allowing an avowed enemy into your home. From a symbolic standpoint, Omar & Co. should be permanently barred.
I have a theory.
I believe the West has been and is too tolerant of evil. It is endangering us, because the tactic of jihadists (specifically, the Muslim Brotherhood) is to infiltrate, gather strength over many years, then take control. It saddens me very much that our leaders are allowing this to continue.
The recent ridiculous controversy over Trump’s tweet about “The Squad” (including Omar’s buddy, Alexandria Ocasio-Cortez) and his view that they can “go back” to where they came from and see how it is…it was allowed to be used as propaganda against the President and his supporters.
Most of us are aware that “America: Love it Or Leave It” has been a mantra of conservatives for years. It’s my mantra.
But this view is now looked on as too intolerant, or not nice.
Amazing! Just like Hitler’s Mein Kampf, the jihadists are telegraphing to us exactly what they have planned for us infidels.
As I said, I don’t worry about Israel’s security, not really. If Netanyahu wants to let another jihadist into the country, that’s his business.
But I am saddened and alarmed that the Muslim Brotherhood playbook is being implemented according to plan. America one day will look very different, and our national weakness will be the cause.
And it should be no surprise that Obama allowed thousands of Somalis to enter our country and settle in Minnesota. Why do you think he did that?
We have enemies among us.
We have raised an entire generation of Americans that have no respect for the law, and now we are reaping what we have sown. I cannot even begin to tell you how alarmed I am by some of the videos that I have been watching lately. As you will see below, all over the nation young people are brazenly flouting the law, obstructing and assaulting law enforcement officers, and committing criminal acts in large groups. I think that “lawlessness” is perhaps the best word to describe what is happening, and many believe that what we have witnessed so far is just the beginning. I have so much respect for the good law enforcement officers across the country that put their lives on the line day after day to protect all of us, but I wouldn’t want to be in their shoes at this point. If you wonder why I would say such a thing, just consider what just happened in New York City… (READ MORE…)