Will the mighty U.S. dollar fall?

Wallace G. Smith
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The front page headline of the Wall Street Journal on October 8, 2010, should grab every American's attention: "Dollar's Fall Roils World."  The article points out how the U.S. dollar has fallen to historic lows against many of the world's currencies.  Why?  Other nations' continuing fear of the Federal Reserve's reckless injections of "Monopoly money" into the financial markets to prop up America's faltering economy.

As the article points out, some are beginning to speculate that it will be necessary to form an "agreement by governments around the world to manage the dollar's decline."

Does the United States see how, slowly but surely, its fate is being placed in the hands of foreign nations and enemies? Do you?

If not, maybe another article from the week before might help: "US Is 'Practically Owned' by China: Analyst" (CNBC, 9/27/2010). The "analyst" in the title, Tom Winnifrith of Riverton Street Holdings, predicts that due to their spending habits, "[t]he 200 years when Britain and the US were the top two economies were an aberration and that will change … The decline of empires has happened much faster than folks think."

America is spending like a proverbial drunken sailor. But even drunken sailors must eventually pay their dues.

God's word gives powerful warnings and principles that any nation taking the same foolhardy and reckless approach to its economy should soberly heed.

For instance, Proverbs 22:7 points out to all of us that "the borrower is the slave of the lender" (English Standard Version). Also, in God's prophecy concerning Babylon, recorded before its demise, He highlights their ravenous desire to conquer the lands around them, taking what is not theirs by violence (Habakkuk 1:6-10; 2:5) and compares it to a "debt" built up by their violent greed:

Will not all these take up a proverb against him, and a taunting riddle against him, and say, 'Woe to him who increases what is not his – how long? And to him who loads himself with many pledges'? Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty (Habakkuk 2:6-7).

Indeed, all debtors are at the mercy of their creditors! Why doesn't America understand this?

And though Habakkuk's comments were directed against ancient Babylon (and may have something yet to say to the future Babylon forming before our eyes in Europe), there are other Biblical prophecies that are directed at the United States! When one learns how to recognize our modern nations in the prophecies of Scripture, the perilous economic condition of the United States – and its true cause – becomes absolutely clear!

Consider these prophetic warnings (among many) directed to the U.S.:

The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail … Because you did not serve the Lord your God with joy and gladness of heart, for the abundance of everything, therefore you shall serve your enemies, whom the Lord will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you (Deuteronomy 28:43-44, 47-48).

While America's citizens debate endlessly about which economic approach will reverse the nation's accelerating descent into the bottomless abyss of debt and devalued currency, God Almighty declares that the only real solution will be nothing short of national repentance and turning to Him in humble obedience!

For more information about identifying the modern nations of the world in the ancient prophecies of your Bible, please read our booklet The United States and Great Britain in Prophecy. And concerning the economic woes of today and what they mean for America, read our recent Tomorrow's World article "Debt, Disobedience and Demise of Nations".