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)
More News of the Day
June 2, 2010
As I wrote in the last issue, there are so many things happening in the world today that it is hard to
decide which ones to report on. I couldn’t fit them all in one issue, so here are a few more recent
happenings in the world.
Dubai delays payment: Dubai International Capital asked for a three-month extension to repay
some of its debt. They also have a $1.25 billion loan that is due in June. An official of the Dubai Emirate
stated, “No need to overreact.” As for Dubai World, which has been restructuring their debt after also
delaying payments, the same official stated: “I applaud them for the process taken to resolve the debt
True to form, Babylonian leaders do not want the truth to be known about the true state of the global
financial system, which is close to collapse.
Remember the word I shared last year: “Watch Dubai!” See issues #03-09181, November 27, 2009,
Today’s News: “Watch Dubai!” and #03-09127, May 26, 2009, The Coming Irreversible Collapse .
Japan holds the most government debt in the world: It is estimated that Japan’s general
government debt as a percentage of GDP will rise from 167% in 2007 to 197% in 2010. During the same
period, Greece will go from 104% to 123%, and the US will go from 62% to 92%. The media outlets do
not mention Japan very often in their commentary on the current global financial system; however,
they should do so, for Japan is a key player in buying US debt. We need to be reminded that the last
decade for Japan has been called the “lost decade.” Perhaps, the US will be next. Watch!
I am reminded of the dream I had on February 22, 2009 of a FedEx box truck flying through the air and
crashing to the ground. I specifically recall the truck “tumbling” through the air. It was a strange dream,
since, obviously, a truck cannot fly. Exactly one month later, a FedEx cargo plane crashed on landing in
Tokyo, Japan. One report I watched described the plane as “tumbling” down the runway.
This makes me wonder if this is a sign that the United States’ connection to Japan could play a major
role in the world economy in the coming days. The cargo truck or plane signifies commerce, and
commerce signifies economy. A US cargo plane crashing in Japan may signify an economic collapse that
will extend from Washington to Tokyo.
Bank failures: So far in 2010, there have been 78 US bank failures, which is on track to beat the 140
failures that occurred in 2009. The FDIC has increased the number of potential problem banks from
702 (three months earlier) to 775 and has estimated that bank failures over the next four years could
cost the insurance fund $100 billion to resolve.
How much propping up of this Babylonian system can occur before the weight of its failure brings it to
its knees? This reminds me of a word spoken through Habakkuk, a prophet for our time as well.
(6) ‘Woe to him who increases what is not his―for how long―and makes himself rich
with loans?’ (7) “Will not your creditors rise up suddenly, and those who collect from you
awaken? Indeed, you will become plunder for them.” (Habakkuk 2:6-7 NASB)
Today, banks can borrow money from the Federal Reserve at near 0% interest, which means they
receive money at little to no cost to them, and then they lend it out at 3% or more, which is pure gravy
(i.e., profit) for them. Will they themselves become plunder for the Federal Reserve that is part of
Babylon’s global financial system?
CEO compensation: In light of the verse from Habakkuk, Morgan Stanley, one of the big investment
banking firms, announced that they are giving their CEO a raise in excess of one million dollars so that
he will now make $2 million per year. Woe to him who increases what is not his, making
himself rich with loans. Morgan Stanley borrows money at near 0% interest, just like other banks.
Anyone could make money with this type of deal, so how could one man be worth such gain?
Shift in income: In the US, a major shift in the source of personal income is underway. A recent
report reveals that 41.9% of the nation’s personal income comes from private wages, which is down
from 44.6%, based on December 2007 figures. However, income coming directly from the US
government has increased from 14.2% to 17.9%. In other words, the government is increasingly
becoming a major income source for Americans. Some see this as a good thing as it means that the
Federal stimulus program is working. Others see it as a very dangerous trend that is not sustainable,
since the government relies on private wages to pay for government wages and benefits, along with
entitlements. If this is a true trend, which, based on the course set by the present administration seems
to be so, then we are headed for trouble. Government has become a business that feeds off the people.
This is not the way of the kingdom of God.
Stock Market plunge: Some now say that the Stock Market plunge (called a “flash crash”) of 1,000
points on May 6 th was no fluke but an indication of what is coming. In spite of the rise in the DOW to
above 11,000, it was simply a temporary rally that could not hold. Now, the DOW is hovering around
10,000. In fact, it was an intermission between the Housing and Debt Crisis of 2008-2009, which
wiped out half of America’s stock value, and the great Sovereign Debt Crisis of 2010 that has just
begun. Some experts claim that this crisis will grow into a Currency Crisis . Watch!
The job offer: US Congressman Joe Sestak made the news when he told a reporter some three months
back that he had been offered a job by the White House through a phone call by former president Bill
Clinton. Whether this was legal or not is up to the legal experts to decide; although it seems mighty
fishy to me. My theory is that Bill Clinton was asked to call Joe Sestak and mention some vague non-
paying job just to see if he were remotely open to being talked (i.e., bribed) out of running against Arlen
Specter. It was a fishing expedition with very little bait. To his credit, Mr. Sestak smelled the bait and
refused to even consider it. To Mr. Clinton’s credit or, better yet, perhaps to his political/legal savvy, he
quickly backed away when the bait he was offering was too slimy to hold. What has bothered me as I
have listened to the news coverage is the collective response from the Washington insiders, especially
the politicians and legal experts. They responded that this is the way Washington works; it is done all
the time; therefore, there is nothing wrong with it. Do you get the logic in their response? It is not a
question of legality or ethics to them; it is a question of whether it is an accepted norm. It is like saying
that lawlessness is the accepted norm; therefore, whatever is done is lawful. Stealing is an accepted
norm among thieves, but no matter how one cuts it, their actions are still lawless and against God’s law.
Bribery is an accepted norm among politicians, but no matter how one cuts it, their actions are morally
bankrupt and against God’s law. Is it any wonder that God is going to cut this cord of falsehood that is
tied to the American people?
Israeli commando raid: The state of Israel finds itself in the crucible of world criticism once again as
a result of it storming a flotilla of ships, supposedly carrying aid to the Gaza Strip, and 9 were killed.
Add to this the coldness of the US relationship with Israel and it becomes apparent that Israel is
becoming more and more isolated. This should remind us of Jeremiah’s unfilled prophecy regarding
Jerusalem: “Just so will I break this people and this city, even as one breaks a potter’s
vessel, which cannot again be repaired” (Jeremiah 19:11 NASB). See issue #03-09119, August 5,
2009, Two Unfilled Prophecies . Watch!
The Upward Call: #04-1059
by: Stuart H. Pouliot