In March this year some of the world’s biggest financial thinkers gathered in Melbourne for a two-day investment summit entitled WORLD WAR D – Money, War & Survival in the Digital Age. Below is an abbreviated report on the outcome of the conference by one of the conference organizers. It would be humorous except it is factual and reveals a world in crisis. “NO WAY OUT” was the rather sobering conclusion to Satyajit Das’ 90 minute presentation at the World War D conference. Das was dressed for the occasion, wearing all black. And it was a fitting conclusion given he spent the entire presentation explaining exactly why the exits are closed. In a word, it’s because of debt. There is simply too much of it, and we’re trying to create more of it in the belief that it’s some kind of solution. No wonder Das thinks there’s no way out; we’re trying to exit through the roof. What about going the other way? Back down the stairs and out the front door? That’s not likely. The way Das tells it, downstairs is completely flooded. Or as he put it: ‘The low rates, mispricing of risk and excessive debt levels that were the causes of the crisis are now considered the ‘solution’. ‘ Ultimately, the policies being used to manage the crisis punish frugality and thrift, instead rewarding borrowing, profligacy, excess and waste.’ A new study from Princeton and Northwestern Universities concluded that the US government represents not the interests of the majority of citizens but those of the rich and powerful. ‘The central point that emerges from our research is that economic elites and organized groups representing business interests have substantial independent impacts on US government policy, while mass-based interest groups and average citizens have little or no independent influence,” says the peer-reviewed study. ’ Yes, dear reader, the elite run things. That’s why we have QE (quantitative easing), for example. The banking cartel is perhaps the most powerful group in America. Its oligarchs want to make a profit. How better to do so than to lend themselves money for practically zero interest…then use that money to lend to Washington at a higher rate? Everybody wins, right? Washington gets the cheap funding it needs to continue handing out billion-dollar contracts for things we don’t need…and banks earn a fat margin on the newly created money. Hey, and maybe the ‘wealth effect’ will drip a few shekels onto the poor schmucks who still think their votes decide things. ‘Last week’s budget debate showed how little difference there lies between the parties when it comes to preserving the warfare-welfare state. One side may prefer more warfare while the other prefers more welfare, but neither side actually wants to significantly reduce the size and scope of government. ’ Now we know: There is nothing ‘wrong’ in Washington. There is nothing we can fix. No one is making a mistake. This is just the way government operates: It rewards the people who control it…and punishes everyone else.
Whilst this report refers mainly to the US Economic Crisis, the Conference presenters stated the European situation is no better and in fact worse because the levels of unemployment are much higher particularly below the age of twenty five; countries such as Spain and Italy over fifty percent are unemployed. A level at which anarchy is imminent.
The Bible predicts events such as these in the end times. A time when Christians will have unprecedented opportunities to present the GOOD NEWS and that the King is returning to put things right. At that time every knee will bow and every tongue confess that JESUS CHRIST is Lord regardless of whether they want to or not.