Monday, January 11, 2010

Sarkozy calls for overhaul of "international monetary system"

Timing is everything. Just as soon as we observe the big push to get the satellites up and running for project Galileo (Project Galileo link), we now see French President Sarkozy continuing the push for an international monetary system.

According to Mr Sarkozy:

"He has said he wants to transform the international monetary system when France takes over the leadership of the G20 in 2011."


"The monetary disorder has become unacceptable,'' said Mr Sarkozy, who later this month is due to address the world economic forum in Davos."

"The world is multipolar, the monetary system must become multi-monetary,'' he said in an apparent call for other currencies to be promoted over the greenback."

This is more interesting, given that France takes over the leadership of the G20 in 2011. Additionally, Mr Sarkozy's statements were echoed and supported by Nobel Prize winning economist Joseph Stiglitz who stated the following:

"A dollar-based system ... might have made sense in the 20th century but doesn't make sense in the 21th century."

The entire article can be found here.

This article reveals that the calls for an "international monetary system" will not go away, and reveals that Europe is quite serious about it. This article also underscores the fundamental weakness in the dollar, a decline which will only accelerate in the coming weeks and months - and that, in turn will further consolidate the opinion that we need to move to an international system such as a single currency. It also serves as an indicator of the overall weakness of the United States on the world economic stage.

I believe both things must happen as we approach the Tribulation: a significantly weakened U.S. and a global financial system. America simply is not a world power during the Tribulation. The speculation on why this is, ranges from the Rapture disproportionately affecting the U.S. and serving as the cause of the U.S. demise - to an economic collapse and resulting removal from the world stage. Perhaps the U.S. simply gets swallowed up into the growth of the revived Roman Empire.

As seen with the other signs that we watch, the overall progress towards the Tribulation continues - here, we see serious discussions and calls by world's leaders to create a single world financial system, possibly including a single currency - just as we would expect from understanding biblical prophecy.

Its just a matter of time.

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