Another Sign of the Times

Yesterday cnbc.com published an article that grabbed my attention.  It is titled, "Watch Out, World Bank: Here Comes the BRICS Bank."  The article originated with The Associated Press and Reuters.  BRICS stands for Brazil, Russia, India, China, and South Africa; these nations have been petitioning for a new world currency.  The article began: "Leaders of the five BRICS nations plan to create a development bank in a direct challenge to the World Bank that they accuse of Western bias.  The bank would use $50 billion of seed capital shared equally between Brazil, Russia, India, China and South Africa but would undoubtedly be dominated by China.  It would be the first institution of the informal forum started in 2009 amid the economic meltdown to chart a new and more equitable world economic order.  At a summit meeting on Wednesday in Durban, South Africa, Russian President Vladimir Putin gave support for the bank but cautioned it 'must work on market principles.'  India's trade minister said BRICS will 'have a defining influence on the global order of this century.'  The five countries represent a fifth of global GDP and share high growth and geopolitical importance in their separate regions, but have struggled to find common ground that would convert their economic weight into joint political clout."

The article continued, "At the Durban summit, the group's fifth since 2009, the BRICS leaders were also expected to endorse plans to create a joint foreign exchange reserves pool.  The proposed development bank and reserves pool reflect frustration among emerging nations at having to rely on the World Bank and International Monetary Fund, which some see as reflecting the interests of rich nations.  The reserves pool of central bank money would be available to emerging economies facing balance of payment difficulties or could be tapped to stabilize economies during crises, according to documents obtained by Reuters outlining it."

Now you might be asking why this article caught my attention.  The world's financial condition is approaching a crisis.  These five countries, as I have stated above and in previous blogs, have indicated that they desire a new monetary system, replacing that built upon the America dollar.  Now they are stating powerfully to those third world countries - targeting especially Africa and Latin America - that they do not have to depend upon pleading with the Western-focused World Bank and International Monetary Fund, but now have friends who can assist them with capital funds, providing jobs for roads, ports, railroads, and power facilities. 

I believe this is simply another step forward toward the creation of a universal monetary system.  The Bible, especially in Revelation 13, strongly indicates that a day is coming when one person will have absolute influence over the economies of the world.  We are getting closer to the unveiling of that one person. 

You can find the above cited article at www.cnbc.com/id/100596232.

Again, I wish you a Blessed Easter and Resurrection Sunday. 

P.S. There will not be a blog next week as I will be taking a few days off to spend time with family in Florida.