As Emma Duncan records in The Times and reported in The Weekend Australian, July 2nd, 2022.
Edward Chancellor has a gift for timing. Devil Take the Hindmost, his book on financial speculation, was published shortly before the stock market crash of 2000. His new book, The Price of Time, The Real Story of Interest, comes out just as tightening monetary policy threatens to tip the world into recession. He could have improved on the title, however:
Doomed! We’re All Doomed! would have better represented the book’s message.
Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded – including the extraordinary appearance of negative rates in Europe and Japan – and highlights how this has contributed to profound economic insecurity and financial fragility.
Chancellor reveals how extremely low-interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels, and the pensions crises that have afflicted the West in recent years – conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis.
As I have posted previously The World Economic Forum and the United Nations have realised that the time is right for The Great Financial Reset. Read what they say on the WEF website.
As we enter a unique window of opportunity to shape the recovery, this initiative will offer insights to help inform all those determining the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models, and the management of a global commons. Drawing from the vision and vast expertise of the leaders engaged across the Forum’s communities, the Great Reset initiative has a set of dimensions to build a new social contract that honours the dignity of every human being.
We are living in the time Biblical prophecy reveals is the time leading up to when the demonically inspired world leader (Antichrist) appears on the scene for his allotted time. We should not be surprised at what is unfolding in the world today. God has told us in advance so that we know He is in control of history and even allows the suffering and yes, the evil that happens for now within the context of His overall purpose.
“There shall be a fourth kingdom on earth, which shall be different from all the kingdoms, and it shall devour the whole earth, and trample it down, and break it to pieces.” Daniel 7:23
“And the beast (Antichrist) was given a mouth uttering haughty and blasphemous words, and it was allowed to exercise authority for forty-two months. It opened its mouth to utter blasphemies against God, blaspheming his name and his dwelling, that is, those who dwell in heaven. Also, it was allowed to make war on the saints and to conquer them. And authority was given it over every tribe and people and language and nation, and all who dwell on the earth will worship it, everyone whose name has not been written before the foundation of the world in the book of life of the Lamb who was slain.” Revelation 13:5-8
“For through Him (Jesus), we have access in one Spirit to the Father. So then you are no longer strangers and aliens, but you are fellow citizens with the saints and members of the household of God, built on the foundation of the apostles and prophets, Christ Jesus himself being the cornerstone, in whom the whole structure, being joined together, grows into a holy temple in the Lord. In Him, you also are being built together into a dwelling place for God by the Spirit.” Ephesians 2:18-22