As I watched how the global crisis is affecting nations around the world and how it is said to be the ‘worst recession since 1930”, I wondered how we got into this position in the first place. While looking for answers about the origins of this financial meltdown I found an interesting fact in history that predates this crisis way back before the Great Depression, and that this would be the beginning of a world where a great financial shake up like this was possible to take place.
The theory began with how money was originally created and used in the past and how it has changed in today’s world. In the beginning, money was used to represent value of gold and silver that a person had saved in a bank. It was a receipt that could be redeemed for a fixed weight of gold or silver. Today, a paper or digital dollar can only be redeemed by a paper or digital dollar. Over the years the function of money shifted from representing actual vaue of gold or silver to representing debt. To learn more about this twisted historical fact of the origins of money, watch the 5 part video about the Corrupt Banking System.
How far back into history the cause of today’s global financial crisis is and what exactly is the cause, we can probably never be too sure. As right now the only thing that people are more concerned about is how to survive, many don’t even like to even think of how the future is going to be, throughout the global crisis and out of it, if we can ever get out at all – let alone trying to understand the cause of it in the past. But understanding the past may be the only key to predict the future in order to survive the present all the way into the future.
Some predict that the global crisis will only last for a short time. In the beginning of this crisis, it was believed that the world’s largest economies were only experiencing a sudden short-term panic. But a year into the crisis now, this idea seems more and more strained. There have been different predictions about how long this recession is going to last. Some say it will extend until 2010 and some others predict that it will take up to 20 years to recover.
According to Kirby Daley, senior strategist in the Newedge Group, back in October 2008, the US will either fall into a deep abyss or into a deep long recession.
Gerald Cassente, CEO of The Trends Research Institute, even drew a gloomer picture of the future of the US. According to him, under the Obama administration, the US will be the first undeveoped nation of the world by2012. He predicted food riots, tax riots and revolution, job riots and even kidnapping as seen in the third-world countries today, happening in the US.
As I heard of the Zimbabweans panning for gold in the rivers to buy a loaf of bread, I wondered whether the whole world would actually come to this point. The Zimbabwean dollar had become less and less valuable over the past few months/ years which forces shops to only receive gold as the currency. It is expected that the British Pounds and the US dollar currencies have and are still going to weaken through the year (2009). Will we come to the point where eventually the world decides to follow the steps of Zimbabwe, where gold is the only currency that the whole world will accept?
Morris Cerullo, a minister and evangelist, believes that the financial shake up will lead to the fulfillment of a well-known prophecy in the Books of Revelation chapter 13 — the creation of a one world currency under a one world government. If the world’s currencies continue to lose their value, maybe what happened to Zimbabwe will eventually happen to the rest of the world.
But there is also a prediction saying that the global crisis today will lead to a new geopolitical, economic world order that ends Western domination. As Morris Cerullo believes that there will be a wealth transfer happening among nations, Dick Kamuganga, a writer at the New Vision, Uganda’s leading news website, predicts that a shifting of economic power of nations will occur through this financial shake up. This is based on historical events where a great shake up in the financial and economic world would always result in a new geopolitical, economic world order. The latest shift happened in the Great Depression in 1930 where the center of gravity of the global economic power was shifted from Europe to the United States.
The changes in world power and wealth distribution geographically and politically is happening under the impact of the economic crisis, as the US commentators in the G20 summit have come to terms regarding the new patterns of geopolitics and geo-economics. According to Dicky Kamuganga, the nations that were predicted to become the next centers of gravity of the economic power and wealth distribution are in Asia. They are China, India, Korea, Taiwan, Singapore, Thailand, Malaysia and Indonesia.