Europe opens doors to fraud

Europe opens doors to fraud

Europe opens doors to fraud

As we have stated already, the countries in Europe which are
adopting the Euro Dollar as their currency have until early next year to get rid
of the currency that they are presently using.

This is causing all sorts of problems as there is much black
economy and those who have money hidden under the mattress are desperately
trying to get rid of it as quickly as possible by building tennis courts,
swimming pools and so on. The other problem is that the majority of those black
marketers are tradesmen and therefore they are being loaded with national
currencies which they do not know what to do with. A suggestion would be that
they get on an airplane and start flying around the world to enjoy themselves
until the end of this year, when the Euro Dollar will become the currency of
standard use. We quote from The Straits Times in Singapore, 20 July 2001:

"The euro offers golden opportunity for card fraud -– Even
before euro notes and coins are introduced, the currency has become a source of
fraud.

A Dutch association has warned that foreign traders are
charging inattentive tourists in euros instead of the local currency.

Automobile association ANWB has advised Dutch tourists to
check their receipts carefully when they use their credit cards during holidays
abroad.

Its warning follows increasing complaints from angry
travellers who discover discrepancies in their bills only when they receive
their credit card statements at home....

Whether by design or mistake, some traders are putting the
euro sign where the local currency sign should be on credit card slips.

Since one euro is worth more than one unit of the currency of
all 12 participating countries except Ireland, the amounts involved can be
significant....

Media reports have described the incidents as fraud....

While euro notes and coins will be circulated only from Jan 1
next year, the euro already exists as a virtual currency which is used in
electronic transactions.

National currencies will circulate alongside the euro until
Feb 28 at the latest.

After that, the euro will be the only legal tender for 302
million people in 12 countries and there are fears of widespread confusion
during the changeover period."

It is clear that this is one of the three major currencies in
the world to be used alongside the American Dollar and an Asian currency yet to
be decided.

Ultimately this will lead on to a single currency and then
the mark of the beast as predicted in the Word of God in Revelation 13:16-18:

"And he causeth all, both small and great, rich and poor,
free and bond, to receive a mark in their right hand, or in their foreheads: And
that no man might buy or sell, save he that had the mark, or the name of the
beast, or the number of his name. Here is wisdom. Let him that hath
understanding count the number of the beast: for it is the number of a man; and
his number is Six hundred threescore and six."

Another note on the economy.

We find in the Herald Tribune, picked up in Singapore,
20 July 2001:

"Invisible Hand Guides Bush on Economy -– When world
leaders gather Friday for the Group of Eight summit meeting in Genoa, the most
influential member of President George W. Bush's economic team will be
missing.

Lawrence Lindsey, Mr Bush's chief economic adviser and
mastermind of his $1.35 billion tax cut, will be staying home to keep a close
eye on the rickety U.S. economy and world financial markets
.

Mr Lindsey has already briefed Mr Bush on what to say in
Genoa, where he hopes that the closest U.S. allies will endorse pro-growth,
free-trade policies to help out the ailing world economy....

But the main reason Mr Lindsey will not be in Genoa is that
he has no counterpart to meet with in any other government. His close personal
relationship with Mr Bush as economic counsellor and policy coordinator is
unparalleled in most other advanced countries.

In the White House, Mr Lindsey is the voice of deregulation,
free trade, low taxes and interest rates..." (emphasis added).