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The world is currently in a precarious financial position given the huge debt burden and trouble some of the major banks have been experiencing. These major banks hold trillions (thousands of billions) of dollars in derivative debt liability. These derivatives are bets on the performance of assets. As world economic instability occurs, derivative failure of the largest banks in the world can occur.
Since the 2008 world financial crisis governments around the world added an additional $100 trillion of debt. Instead of paying down the debt levels, to reduce the ongoing debt obligations, the world debt levels were only increased by rampant borrowing, standing now at upwards of $240 Trillion dollars, increasing the money supply and inflation, reducing the value of the currencies. The current system operates by banks generally issuing debt at very low interest rates, creating amounts of debt that we are told is meant to be an investment that will bring about growth. Unfortunately with world debt levels so high, and when economic conditions and growth contract, due to the size of the massive debts and repayments, the increase in debt is not bringing about proportionate growth. With Banks in Italy having needed bail outs, EU’s largest bank Deutsche Bank of Germany holding huge derivative liability exposure, systemic risk of a total world financial crisis is growing.
Financial instability causes great and cascading social problems. Consider Venezuela and other countries suffering from financial strife and hyperinflation, and imagine this across the world. A collapse of the stock market, the failure of derivatives, the failure of the major banks, and hyperinflation from huge bailouts could cause an irreversible and catastrophic economic collapse worldwide, destroying the fiat (paper money) monetary system in short order. Governments may attempt to bail out banks to buy some more time (like they did in 2008) with huge sums of money, but this will only rampantly increase inflation. During a banking crisis, banks can be bailed in (customers money deposited in the bank seized to cover bank debt shortfalls), currency quickly hyper-inflating to worthless levels and credit and loans ceasing.
In a serious enough collapse, transport, food distribution, water, power, gas, coal, medical, fuel, and distribution can all be strongly effected. Businesses cannot operate with hyper-inflated currency and when the banks have failed. Our modern society would grind to a halt, throwing us essentially back into an age of old. Very quickly food may be stripped from the supermarkets, there would be riots and looting, robbery, crime and violence. The water in the taps may fail if infrastructure and wage costs cannot be met, or the currency is worth so little nobody will go to work, meaning very quickly food and water disruptions, and economic paralysis. A city is a large place with little to no natural resources and a large population in the same position competing for those resources.
The Bible prophesies in the Book of Revelation by the first 4 seals that during the tribulation there will be great famine and death, a serious economic collapse and world war, killing up to one fourth of the earths population, before the emergence of a world government led by the Antichrist. We as a society are so reliant on modern systems of technology and our functioning economy, we are not ready to live off the land and be self-sufficient.
The times are coming when the economy will fail, as it did in the Bible in Egypt during famine, where the money failed and became hyperinflated. The people only survived due to a man of God, Joseph, who by God interpreted Pharaoh’s dream, and led the storing of a great harvest of grain and produce for the seven years of plenty, to prepare for the seven years of famine. Those seven years of famine came and were terrible, the people sold everything they had to Pharaoh for food, including their livestock, their lands and even themselves. But the people and many nations survived due to the preparations made by the man of God Joseph, and the grace of God to bring this vision of coming disaster that was taken seriously and acted upon. This is a strong example of wise preparation. We have many signs warning us to prepare ourselves, many prophetic dreams and visions of God telling us we are in the last days. We are warned in the word of God by Jesus that the end days will involve famines (Matthew 24), so I believe preparation for these coming times in having stored food, water and being as self-sufficient as you can is important. Your faith in Jesus Christ is most important.
Please consider the times we are living in, and the consequences that could take place from a serious economic collapse or crash. Gold and silver would likely have an increase in price in times leading to and during an economic collapse, as paper money can become hyperinflated. But it’s also important to remember that gold and silver will not satisfy your stomach themselves, they cannot be eaten, so a comprehensive preparation is best.
Food, water, survival equipment, money, gold/silver, a means of protection, gardens, a good location away from the city and in the country with natural resources is ideal. Keep close to Jesus Christ and repent of your sins, doing your best in faithful obedience to the Lord. Wherever you are, if you are in the city, in the suburbs, prepare in whatever way the Lord leads you. Pray to the Lord Jesus Christ in all things, and rely on Him as our Rock, our fortress and our deliverer! Faith in Jesus in these coming times will be imperative.
Here is a video discussing vital information for the coming times:
God bless you. Christopher.