Brethren, I do not regard myself as having laid hold of it yet;
but one thing I do: forgetting what lies behind and reaching forward to what lies ahead,
I press on toward the goal for the prize of the upward call of God
(Philippians 3:13-14 NASB)
Today’s News – Feigned Outrage
March 18, 2009
There is a lot being reported in the news lately that should be of interest to all of us as we see the
continuation of the fall of the global financial beast of mystery Babylon . By the way, a beast is
not a person or even a single nation; rather, it is what could be called an organized system that directs
the affairs of man in some systematic and organized fashion, that stands in opposition to the kingdom
of God, and that, most definitely, refuses to submit to Christ.
AIG Bonuses & Bank Bailouts
The Washington buzz this week is over AIG, the insurance company that supposedly is too big to fail,
giving something like $165 million in bonuses to its people as required by contractual agreements and,
by the way, as allowed under the Obama stimulus bill that no one read. The whole political system is
atwitter this week with feigned outrage coming from the politicians, both left and right. I say
feigned outrage, for it seems that these politicians either knew this was going to occur and they are
covering their tracks by diversion, or they should have known it would occur and failed to stop it when
the money was first offered. Either way, it reveals their ineptitude, incompetence, and failure , as
well as their moral and ethical bankruptcy . So they scream: “How dare AIG honor its contracts and
give out bonuses? Give the money back, or we will tax 100% of it so that you will get none of it. We will
even release your names, even if it puts you and your family at risk from those who are threatening your
lives.” Now our politicians are becoming extortionists. It is the height of hypocrisy! Of course, these
politicians care more about their own power, position, and money, and covering the tracks of the mess
they have created, than about being open and honest. What happened to transparency? What they do
not seem to care about or, worse, to allow to be part of the public discussion and outrage is the fact that
AIG received $170 billion of bailout money and then gave about $93 billion of that to help bail out
banks with over half of the money going to foreign banks. Talk about a colossal money-laundering
Well, I do not need to dwell on the arguments and counter arguments that are being discussed ad
nauseam in Congress and by the media. What you will not hear coming from the politicians or the
media is that the political system of the US is being exposed for its true nature and is coming under the
judgment of God. On stage today is the corruption, hypocrisy, lies, immorality, injustice,
and lawlessness that have become the heart of the political system of the United States.
Please stay tuned for a series titled A Hammer Which Shatters A Rock that I will post on March
30, 2009 . In this series, I will share a word that I believe the Lord spoke to me recently.
China and US Treasury Bonds
Probably more worrisome to the US are recent comments coming out of the leadership of China that
they are concerned (“worried”) about their US Treasury holdings that have been estimated to be as high
as $1 trillion. According to reports, China is debating within their ranks whether or not they should
continue to buy US bonds. Their fear, which is a valid one, is that with so much spending coming out of
Washington, along with its concomitant debt, the value of the US dollar could weaken substantially,
thereby threatening the value of China’s investment. Couple this with recent talks by financial and
political leaders of other nations (G-20) that the world might need a new reserve currency other than
the US dollar, and there is reason to be worried that the financial beast could turn on the US and bring
her to her knees in short order. The current economic downturn would be likened to a ripple
compared to the tsunami that such a move would cause as it ignites inflation .
However, the thing that keeps this balancing act going is the fact that China and the US need each other
and are joined at the hip. This is the very strength of mystery Babylon. China’s growth has come
from its massive exports to the US. Just visit any Walmart and read the labels of the goods on the
shelves; most are made in China. In turn, the US’s growth has been financed by China buying our
bonds, which means our growth is based on debt. The US has become the debtor nation and China the
creditor nation. Read issues #03-0966, February 10, 2009, #6. The Law of Lending & Borrowing ; and
#03-0967, February 17, 2009, #7. The Law Against Usury , which are part of the series titled The
Kingdom of Our Lord , to see God’s perspective on the matter and why it is a very dangerous position
for the US to be in.
“Recession Could End Soon” – Ben Bernanke
After months of doom and gloom and being told that astronomical spending financed by astronomical
debt is necessary to stave off catastrophic collapse of the banking system and, consequently, the whole
global economy, the head of the Federal Reserve now tells us that all is going to be ok and the American
recession “probably” will end this year. We have averted the dreaded depression, and the big banks will
not fail under his watch, so the chairman states. If I owned the money printing press and had the power
over the money supply, I guess I would be singing the same tune. The same thing can be said for
President Obama and his team who are now speaking of the “sound economics” of our system that
candidate Obama derided John McCain for stating back in September. This is politics as usual and
again heightens the hypocrisy and lies of politicians who change their tune to achieve their end result
and to persuade public opinion like a tree swaying in the wind. One minute, we are swung to the
right , and, in the next minute, we are swung to the left ; pun intended. This is hope and change!
A word that keeps coming to me lately is this: And there is no creature hidden from His sight,
but all things are open and laid bare to the eyes of Him with whom we have to do (Hebrews
4:13 NASB). Those who practice lying are not part of New Jerusalem (Revelation 21:8; 22:15).
Boom-Years of Church Borrowing Over?
The church-at-large has not been immune to the current economic downturn, contrary to some
prosperity preachers that proclaim the church has a different economy and will increase its wealth. If
you have read some of my material, you will know that I am not a fan of the so-called prosperity gospel
that is not the good news of Scripture, which, as Paul would say, is another gospel. Through much
tribulation we must enter the kingdom of God (Acts 14:22), and through suffering comes glory (Romans
8:17; 2 Thessalonians 1:3-12; 1 Peter 4:12-13).
But there is more to report, for some of the mega-churches that have been on a roll, so to speak, as they
have been expanding their so-called campuses are now experiencing the credit squeeze. They began to
build their multi-million dollar complexes funded by credit and mortgages. In some cases, their grand
plans have come to a screeching halt as credit dried up in the midst of their construction projects. In
other cases, some churches have not been able to meet the debt obligation to their lenders, resulting in
foreclosure. One mega-church was reported as being forced into renegotiating an interest-only
mortgage. A Christian mortgage company reported that 10% of its outstanding loans were in default;
others report a noticeable increase in late payments. It shouldn’t surprise us that some Christian
lenders securitized church loans , which means they bundled church mortgages and sold them as
bonds, just like Fannie Mae and Freddie Mac did. We know how that has turned out!
I have quoted him elsewhere, but it is interesting that Warren Buffet stated that with the economy
falling off a cliff, people have changed their habits. To the capitalists, this is a bad thing, for it means
that Americans are not borrowing money at interest and buying things as before. However, there is a
silver lining in this if it leads to churches turning away from the ways of the financial beast of mystery
Babylon and seeking for God’s way, especially the way of God’s kingdom. We could call it the economics
of God’s kingdom. God has a better way, and we need to know His way. It is time for Christians to
change their habits or their ways, which is called repentance.
The Upward Call: #03-0940
by: Stuart H. Pouliot