November 03, 2009

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Iran, Israel, and War Rumors of Iran, Israel, and war are everywhere you look in today’s news headlines, and for those with knowledge of bible prophecy, this should command immediate attention. Why? Because, when it comes to the end times, the bible has a lot to say about Israel and war with her neighbors. In fact, Iran is specifically mentioned in this context... 2,600 years ago, the prophet Ezekiel identified modern day Iran (Persia) as a key player in the last days Gog / Magog invasion: “This is another message that came to me from the Lord: ‘Son of man, prophesy against Gog of the land of Magog, the prince who rules over the nations of Meshech and Tubal. Give him this message from the Sovereign Lord: Gog, I am your enemy! I will turn you around and put hooks into your jaws to lead you out to your destruction. I will mobilize your troops and cavalry and make you a vast and mighty horde, all fully armed. Persia, Ethiopia, and Libya will join you, too, with all their weapons. Gomer and all its hordes will also join you, along with the armies of Beth-togarmah from the distant north and many others.’” Ezekiel 38:1-6 (NLT) In addition, Psalm 83 identifies Syria as a land that will conspire to destroy the nation of Israel: “‘O God, don’t sit idly by, silent and inactive! Don’t you hear the tumult of your enemies? Don’t you see what your arrogant enemies are doing? They devise crafty schemes against your people, laying plans against your precious ones. ‘Come,’ they say, ‘let us wipe out Israel as a nation. We will destroy the very memory of its existence.’ This was their unanimous decision. They signed a treaty as allies against you – these Edomites and Ishmaelites, Moabites and Hagrites, Gebalites, Ammonites, and Amalekites, and people from Philistia and Tyre. Assyria has joined them, too, and is allied with the descendants of Lot.” Psalm 83:1-8 (NLT) All that said, why should it matter that the prophets long ago identified these nations as end times enemies of Israel?
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Central banks lead subtle shift away from dollar Central banks with trillions of dollars in reserves that are already stepping up euro and yen purchases will likely continue doing so in coming years, driven by worries over the stability of the greenback. A record U.S. budget gap and the rise of dynamic developing economies like China suggest the dollar, down over 20 percent since 2002 on a trade-weighted basis, has further to fall. Of course, the dollar comprises some two-thirds of global reserves and will remain dominant in most holdings, as attempts to dump it would destroy the value of central bank portfolios. But with the speed of reserve accumulation increasing after a crisis-induced lull late last year, policy makers can choose to park more new cash in euros and yen without having to sell existing dollar assets. "I think 2009 will be remembered as a watershed moment for currencies," said Neil Mellor, strategist at BNY Mellon, which has some $20 trillion in assets under custody. "I don't think there will be an imminent move, but it is quite clear there's a plan to shift reserves to a more balanced portfolio." Barclays Capital research showed that central banks that report reserve breakdown put 63 percent of new cash coming into their coffers between April and July into non-U.S. currencies. "There's an incipient desire to reduce the dollar share of reserves, and central banks will use any opportunity to do it, provided it doesn't cause the dollar to fall out of bed," said Steven Englander, chief U.S. currency strategist at Barclays.

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I'm a watchman for Christ, looking on the horizon in expectation for the fulfillment of God's Word.

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