World economic slump
For nearly forty years, this writer has toured many countries
warning the people of a new world monetary system, leading on ultimately to the
mark of the beast as spoken of in the book of Revelation 13:16-18.
In the year 2000, it was very clear that the nation of Japan
was economically collapsing, and therefore we simply watched for the United
States to follow suit. At this time of writing in early December, in the year
2001, we see that the Americans have cut their interest rate over nine times,
with countries like Argentina defaulting on their loans which will set up a
domino affect around the world, we can see that the writing is on the wall for
the whole world monetary system.
For your information, we now quote from the NZ Weekend
Herald, 10-11 November 2001. The headline is: "Europe cuts rates to
prevent worst slowdown for decade -– Europe's key central banks slashed
interest rates again yesterday, following the US Federal Reserve in a battle to
prevent the world's worst economic slowdown in a decade.
The European Central Bank and the Bank of England cut
rates by a half percentage point, to 3.25 and 4 per cent respectively, matching
the scale of the Fed's move this week as the woes of the global economy mount.
Plunging business confidence and a tide of job cuts
since the September 11 attacks on the United States have brought world growth to
a standstill, with Japan in recession, the US heading the same way and Europe on
Mass US layoffs have spread to the other side of the
Atlantic, with the collapse of Belgian airline Sabena this week placing a
further 12,000 jobs in jeopardy...
... evidence on the outlook now suggests that the global
slowdown may be somewhat deeper and longer than previously thought...
Euro zone business confidence hit a five year low in October,
industrial production is already in recession and the fallout for consumer
spending will be high.
Job creation has halted in mainland Europe and unemployment
in Germany, its largest economy, has risen every month this year except one and
now stands above 3.9 million.
'Confidence has been harder hit than we thought only
a few weeks ago,' (ECB president, Wim) Duisenberg said. Private economists
'We estimate that G4 (the US, euro zone, Japan and Britain)
business confidence has now fallen below the lows of the early 1990s recession
and is the lowest for 20 years,' US broker Schroder Saloman Smith Barney told
clients this week." (emphases added).
What a wonderful book the Bible is, as it speaks about every
We now turn to 1 Timothy 6:17-19, and read some verses
regarding the Christian's attitude to finance in these last days, just before
our Lord Jesus comes.
Verse 17: "Charge them that are rich in this world, that
they be not highminded, nor trust in uncertain riches, but in the living God,
who giveth us richly all things to enjoy;"
Verse 18: "That they do good, that they be rich in good
works, ready to distribute, willing to communicate;"
Verse 19: "Laying up in store for themselves a good
foundation against the time to come, that they may lay hold on eternal life."
In simple English, these verses point out that riches are
certainly uncertain, particularly at this time of history, and Christians should
hold lightly to them, using them well for the work of the Kingdom of God, that
ultimately when they reach heaven, they may receive reward for their good
stewardship of that which God has left with them.
There would be those who will not heed the warning, and
therefore this verse, 1 Timothy 6:10-11, is written specifically for those
Verse 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."
Verse 11: "But thou, O man of God, flee these things; and
follow after righteousness, godliness, faith, love, patience, meekness."
We must all admit that it is quite a task and yet God gives
us strength to fulfil His expectations of our changed lifestyles.