The Milton Friedman Free To Choose script of floating currencies has provided an ever-increasing moneyness of credit since 1971. But beginning in November 2010, with the trade lower in Chinese Industrials, CHII, and Chinese Small Caps, HAO, the seigniorage, that is the moneyness, of the world central banks’s monetary policies have begun to wane.
The monetary policies of the world central banks dramatically failed in March 2012 as the BRICs, EEB, Steel, SLX , and the Small Cap Value Shares, RZV, turned lower. Competitive currency devaluation is underway with the Australian Dollar, FXA, and the Brazilian Real, BZF, trading lower in March 2012. The global economic and tectonic plates have shifted and an authoritarian tsunami is on the way.
Through creative destruction, fate, not any human action, is now establishing the moneyness of diktat, as God’s Word is creating a monster of regional statism and totalitarian collectivism, that being Neoauthoritarianism. This behemoth is rising up out of the profligate Mediterranean Sea nations of Greece and Italy, to replace Neoliberalism, as foretold in Revelation 13:1-4. This behemoth has seven heads symbolic of its occupation in mankind’s seven institutions; and ten horns symbolic of its rule in each of the world’s ten regions.
The Economist Magazine writes, “Greece’s two big parties have become machines for dispensing patronage and pork on a scale that is amazing”. And Lorenzo Totaro of Bloomberg reports on corruption in Italy, “Italy’s underground economy last year amounted to 35% of the country’s gross domestic product, research institute Eurispes said. Transactions in the so called ‘black economy’ reached as much as 540 billion euros ($717bn) in 2011. The figures show ‘a loss of purchasing power, salaries among the lowest in Europe, a sharp rise of goods’ prices, wider use of consumer credit as a way to integrate salaries, and a subsequent increase of poverty,’ according to the report.”
John the Revelator wrote of his vision, a dream given to him by angels, where a head on this monster is wounded to death, Revelation 13:3. This head wound is a catastrophic global financial collapse. The head of finance, commerce and trade is going to suffer an apparent mortal wound. But through diktat, it will recover; and the people will be amazed, and give their allegiance to it; placing their trust and faith in the word, will and way of sovereign leaders, who rise to replace sovereign nation states, as foretold in bible prophecy of Revelation 13:3-4.
There is today, waiting in the wings of Europe’s stage, a seemingly one of little authority. This Little Horn, will rise through knowledge of framework agreements to rule the Eurozone. He will be the Sovereign, the Ruler, of Revelation 13:5-10. He will be accompanied by the Seignior, the Banker, of Revelation 13:11-18.
Eventually 10 kingdoms, each with their own king, will emerge as regional economic and political blocs, as foretold in Revelation 17:12; these will be the ten toes of iron and clay of Daniel 2:31-45, where iron is symbolic of diktat, and clay of democracy. Eventually this miry mixture will crumble and a totalitarian one world government will emerge, as foretold in Daniel 7:7.