The Euro…The New World Currency?By Chris Cumming
IT HAS ALREADY BEGUN! The handwriting is on the wall. The euro is heading to a position where it will dominate the World as its new currency of record. This is an element of unfolding Biblical prophecy that Garner Ted Armstrong has been predicting for years! This move is directly tied to oil, the world economy and new, emerging superpowers around the globe.
A new phrase is showing up in the news, "Euro Invoicing" or the practice of various industrialized corporations and companies demanding payment in euros rather than US dollars or other currencies. Like any process, it is beginning slowly and under the radar of some of the mainstream media.
In a recent article by Sify Finance, "Euro
Invoicing Continues to Rise" they write:
In a news story from last October, "Russia to price oil in euros to snub US", the Russians said that they were going to price oil in euros as a way of binding themselves to the EU. Their central bank has been collecting mass amounts of euros for several months. This type of political binding is reminiscent of what Russia did with Germany prior to Hitler invading.
In another story from last year, "[Hindu] Exporters shifting to euro invoicing", the author writes, "...it was true that there had been a shift, though small, from dollar invoicing to euro invoicing." This again showing how, in each instance, euro invoicing began almost unnoticed.
The euro is gaining in power on the World stage. As I write this, the US dollar is only worth 81 cents when compared with the euro. This sets up an interesting and dangerous scenario for countries who would seek to destroy the US. Instead of military conquest, all they need do is attack and destroy the US dollar and watch the United States economy collapse under it's own dead weight.
As has been previously discussed in these commentaries, China is a
rising superpower. It is in the interest of
most superpowers to lessen the power of any possible opponent, especially when
their goals and politics differ so vastly. China would clearly like to
dominate the US as a superpower. How can they achieve this? In an
editorial on the
currency war, published last year by Alex Wallenwein, he
The point of all this is the euro rises even more in becoming the dominate World currency as the US dollar is destroyed. The euro actually becomes the hammer of third-party countries to smash the economy of the United States.
Euro Pricing of Oil
I discussed this in our Word From on the impending
Oil Crisis. This US economy faces utter
collapse if OPEC and other oil-producing countries begin pricing their oil in
euros. With the euro worth more, the US will have to spend more of its
dollars for euros, thus driving the cost of oil up even more for Untied States
citizens. The idea of OPEC switching to euros has actually been around
since the 1970s. Notice this from a paper out of
So apparently the only factor holding them back from going ahead with the switch to the euro is hurting some of its own OPEC members who rely on the US economy for its trade. What if this changed overnight? What if those member nations changed over to trade with the EU or even China? What happens if the dollar becomes even weaker? Both seem to be where we are headed. The US is falling into disfavor with more and more countries, including more of those member nations of OPEC, including Venezuela and Saudi Arabia. Witness this breaking news story from 10 September.
We predict the euro will continue to rise against the Dollar.
As the euro becomes stronger, so will the EU. This will be the foundation
to its rise to superpower status. As these superpowers (EU and China)
rise, the US will continue in its decline as the world rushes headlong to the
end time events we see outlined in the Bible.
Breaking News Stories
See Word From, "Global Financial Meltdown...Now Near?"
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ECONOMIC, POLITICAL, AND RELIGIOUS IMPACT OF WAR WITH IRAQ"