gearing up the economy

CMI WHITE PAPER 1: POSSIBLE SCENARIO FOR THE DECLINE OF THE US AND RISE OF A GLOBAL SUPRA AUTHORITY

02/21/09 2 © 2009 Congdon Ministries International, Inc.

Engrenage – the “slow, insidious process of EU [European Union] economic integration...in the Monnet mould – being the precursor to and the mechanism for political integration.”1

European Union founder and visionary, Jean Monnet, achieved worldwide recognition for promoting the

establishment of this unique supra-government primarily through the application of a technique called

engrenage. Engrenage is a process that begins with a seemingly insignificant act and then leverages or

multiplies this initial action into one of far-reaching and significant impact. This term is most often

utilized when discussing government and economic change, for it provides the means for implementing it

with the least resistance from those who would otherwise oppose it. It seems that this same mechanism is

being employed today, not only in our nation but, also, in the world at large by those who desire to bring

about change and a new global order. While you may be unfamiliar with the term engrenage, the process

itself is very familiar to you if you drive a car, for it is simply the French term for gearing-up.

For example: When you start the engine of your car, it moves very slowly at first. As you increase the

pressure on the accelerator, the engine shifts gears and the car moves faster. The first shift of gears seems to

do very little toward achieving the desired speed, but each subsequent shift of gears promotes greater

velocity until the desired rate of motion is attained. In the governmental and economic world this gearing-

up or engrenage process is being applied by those who have specific goals they desire to attain.

Engrenage is often used in the political and economic realm to achieve a goal. A principle or precedent

is concealed within a minor act, project, or decision of government officials and becomes established. Once

established and accepted, this foundational principle is geared-up and applied to areas of greater

significance and impact. Thus, a seemingly insignificant law or economic act that initially affected only a

small segment of society is later utilized in such a way that it influences and impacts an increasingly

greater portion of the populace. Like the moving car, this hidden principle gears-up and gains momentum

until it has achieved the originators’ desired goals within society at large.

The effectiveness of engrenage lies in its subtlety, for “The genius of engrenage…is that nobody notices.

Each step can be justified, in isolation, on apparently good grounds....”2 Like the gentle shifts of a car with

automatic transmission, the key is to cloak the process until the final steps have been accomplished. An

intentional lack of clarity in presenting or suggesting the ultimate goal of the project prevents opposition

1 “Engrenage Again” EU Referendum, 01/03/2009 http://eureferendum.blogspot.com/2008/11/engrenage-again.html 01/03/2009. 2 Ibid.

CMI White Paper 1: POSSIBLE SCENARIO FOR THE DECLINE OF THE US AND RISE OF A GLOBAL SUPRA AUTHORITY


from forming and stopping the engrenage process before it can gear up.3 The danger of engrenage is that

this technique enables those who use it to conceal their agenda or ultimate goal until it is so advanced

and powerful that it cannot be stopped. Because this subtle process is being employed today to change

the very foundations of our nation as well as the world order, a review of the use of engrenage in the

formation of the European Union would be beneficial in helping us to understand and recognize how it is

being used today.

ENGRENAGE AND GLOBALIZATION

From the European Union’s inception, EU leaders have applied the engrenage method in their quest toward

achieving global influence and domination. This technique has been so effective that they now refer to it as

the “Monnet Method” in honor of the EU’s founding father. It is quite feasible that the European Union’s

ever-increasing growth and influence is leading to the fulfillment of biblical prophecy as it relates to the

world-wide government and economic system of the latter days.

A BRIEF HISTORY OF THE EU

The gearing-up for what was eventually to become the EU began when Jean Monnet, a

little-known French bureaucrat, employed engrenage to solve logistical shipping problems

during World War I. With this method in mind, he quietly established key principles related

to allied shipping. The experience gained and the success achieved in bringing about

cooperation between the Allies for a common cause, encouraged him to use this method

again when at the end of the war he played a significant role in the establishment of the League of Nations.

The League of Nations was formed in the hope of achieving permanent peace between world governments

as well as economic prosperity for all, two key goals that are sought today by the EU.

Following the Second World War, Monnet continued his quest toward worldwide cooperation when he

was instrumental in forming the European Coal and Steel Community. Although this controlling

authority affected only two major industries of Europe and was motivated by mutual economic interests, it

established regulating principles that eventually led to the formation of the 27-nation European Union.4

Monnet’s method successfully utilized common economic concerns to unite the culturally diverse nations

of Europe.

It is important to note and remember that political and economic crises provide windows of

3 Christopher Booker and Richard North. The Great Deception: A Secret History of the European Union. (London: Continuum, 2003), 428 4 Ibid., 57.



opportunity to bring about significant change through engrenage. Those who would seek to unite the

nations of the world under one central government—a supra-government, are using this same approach

today. This goal of world unification under one central governing body is not new.

Monnet was influenced by utopian dreamers of the past such as Dante, who in 1308 wrote of a plan for a

worldwide government. Dante, “an admirer of the Holy Roman Empire...suggested that there must be one

'empire' above them all....Such a power would be 'supranational'.”5

“His [Monnet’s] shining dream was of that supranational government of the future, run by

technocrats, rising above all the messy complications of nationalism and democracy.”6

Monnet hoped to attain his goal of a supranational government through the European Union Commission,

its governing authority that is directed by individuals who are expected to make decisions apart from

personal and national self interest—a super-human feat indeed!

He planned “the surrender of national sovereignty over a wide strategic and economic field.”7 Monnet

believed that world unity, lasting peace, and prosperity could be achieved by utilizing the economy and

environment as “gears” in the engrenage mechanism. He was convinced that they could be more effective

than armies in achieving a worldwide empire. These are the same two gears that are being implemented in

bringing about change in our nation and the world today.

THE REAL CONFLICT

Having considered the mechanism of engrenage and how it was the means to achieving the goal of uniting

the diverse nations of Europe, it is imperative to understand that although men such as Jean Monnet were

instrumental in bringing it about, there is an unseen spiritual battle being waged between principalities

and powers in high places of far greater influence. The Bible says that:

We wrestle not against flesh and blood, but against principalities, against powers, against the rulers of darkness of this world, against spiritual wickedness in high places.

Ephesians 6:12 There really are demons who influence and direct people who hold positions of high office in the nations of

the world. Satan really is heading for a “showdown” in the valley of Armageddon where he will unite the

armies of the world in his attempt to stop Christ’s return to establish His kingdom (Rev. 16:13-16).

Satan is very skilled at using engrenage as a means to achieving his rebellious ends.

5 Ibid., 12. 6 Booker, 453. 7 Booker quoting Hugo Young, This Blessed Plot-Britain and Europe, From Churchill to Blair (London, Routledge), Ibid., 59



He is able to orchestrate crises that open windows of opportunity. To do this he uses human agents to attain

his goal by appealing to unregenerate man’s fallen sin nature, especially the inherent selfish desire for

power and wealth (greed). In light of these thoughts, it seems appropriate to consider the possibility

that the current world-wide economic crisis is providing the opportunity for Satan to lay the

groundwork for the economic system of the Antichrist that will come to full fruition during the seven-

year Tribulation. Although believers will not be on earth at this time, the Church having been removed in

the Rapture prior to the Tribulation, there is nothing to indicate that the signs of such a scenario will not

be evident toward the end of the Church Age. The economic crisis of today may lead to the

establishment of principles that will be geared-up, paving the way for world-wide economic control during

the Tribulation. In order to understand just how this economic transition or “bridge” between the latter days

of the Church Age and the Tribulation may take place, a review of biblical prophecy is necessary:

ECONOMICS DURING THE TRIBULATION

According to Revelation, the Tribulation will begin when Christ as the Lamb of God takes the scroll and

opens the seven sequential seals of judgment on the unbelieving world (Rev. 5:5). The first four seals will

release the Four Horsemen of the Apocalypse:

• The white horse will be first to go forth, representing the false Messiah or Antichrist who will

conquer and dominate the earth.

• The next horse is red, bringing war to the earth, and

• The black horse of famine will follow on his heels. Then the last and final,

• Pale horse will bring death to one-fourth of the earth’s population (Rev. 6:1-8).

Each seal is a judgment against the world systems and the unbelievers who have opposed God, his

people, and His ways! Following the seven seals, a progression of trumpet and vial judgments outline

God’s purpose for the Tribulation—to awaken and restore His nation, Israel; to call out citizens from all

nations to populate his coming kingdom; and to judge the unbelieving people and nations of the earth:

So will I make my holy name known in the midst of my people Israel; and I will not let them pollute my holy name any more: and the heathen shall know that I am the LORD, the Holy One in Israel.

Ezekiel 39:7

During the Tribulation,

God will pour out His wrath on three ungodly world systems—religious, governmental, and

economic. We will focus primarily on government and economic conditions during the time of the

Antichrist.



In Revelation 13:1, the false Messiah or Antichrist is presented as a “beast.” This beast represents not only a

specific individual but also the worldwide governmental system that he will head. He is better known as the

“Antichrist,” a name that identifies him not only as Satan’s counterpart to Jesus Christ but also the one

who opposes Him. As a man of the people,8 he will arise from a union of ten nations or regions and

become its dominating king or ruler, supreme to the other ten (Dan. 2:40-44; 7:7-9, 24). His power will

come from Satan (Rev. 13:1, 2), enabling him to employ skillful political maneuvers rather than armies to

conquer.

As the Antichrist rises to power governmentally, the rebuilt city of Babylon will regain world renown for

its economic prosperity and opulence. In addition to being the Antichrist’s capital, wealth and commerce

will bring this city great prominence. It will become the shipping capital of the world9 and will be known as

“that great city, Babylon, that mighty city” (Rev. 18:10-17). Significantly, the Bible describes Babylon

during the Tribulation as being a city of wealth for those who are rich and prosperous, and that it will

offer every kind of opulence such as precious stones, silver, and gold. This description is reminiscent of

ancient Babylon that Daniel described as being the head of gold in Nebuchadnezzar’s statue (Dan. 2). Not

only will this city become the governmental and economic center of world but also, it will become the

center for the worldwide religious system of the Antichrist. In Revelation this religious system is called

“Mystery, Babylon the Great, the Mother of Harlots and Abominations of the Earth” (Rev. 17:5).

Despite Babylon’s prosperity, the after-effects of the first two seals that unleashed the conquering Antichrist

and brought war will cause the world economy to stager under eight-fold hyper-inflation:

And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and wine.

Revelation 6:5-6

As prices soar, the “balances” mentioned in this passage indicate that there will be a

system of enforced rationing as the third seal, famine, is opened. “The penny is a day's

wages and buys only enough for one person (Matt. 20:2, 9)…Three measures of

barley is the ration for animals, suggesting that people have finally been forced to the

extreme by hunger.”10 Predictably, this famine will be followed by the fourth seal,

8 explain - “out of the sea” is defined in Rev. 17:15. 9 The Euphrates once was navigable for ships up to 500 miles from its mouth, according to Henry Morris, quoted in Thomas,

Revelation 8 to 22: An Exegetical Commentary, 316-317. 10 Hoyt, p. 53, 54.



death, as one-fourth of the world’s human and animal population perishes from hunger, sword, and

pestilence (Rev. 6:8); but for the rich (including those in Babylon), the “oil and wine” that represent wealth

will continue. It appears that there will be an elite, wealthy ruling class dwelling in the capital city.

At the onset of the Tribulation and following the removal of all righteous (saved) beings at the Rapture, the

two witnesses of Revelation 11 will begin their ministry of evangelism. The fruit of their labors will

result in the salvation and commissioning of 144,000 Jewish evangelists, 12,000 from each of Israel’s

twelve tribes. As they spread throughout the entire earth proclaiming the gospel, great numbers of people

will turn to the Lord Jesus Christ for salvation (Rev. 7). In opposition to this spiritual movement, the

Antichrist will begin persecuting those who have trusted Christ and many will be martyred. As these dead

souls they cry out to the Lord for justice, they will be given white robes of righteousness and be told that a

time of vengeance will come just as soon as the final Tribulation martyrs are added to their numbers

(Rev. 6:10-11). This promise of vengeance is the fifth seal to be opened.

The sixth seal (Rev. 6:12-17) will release natural disasters, sent from the hand of God upon those who have

used the environment as a means to achieving world control and domination. Earthquakes, darkness, and

meteor showers will cause much damage to the earth and men will cry out to the rocks and mountains to

hide them from the wrath of God. Then the seventh and final seal will unleash the seven trumpet

judgments that will be followed by the seven vial judgments as God pours out His wrath upon

rebellious nations and unbelievers.

During times of economic and natural disasters people look for causes to blame.

The Antichrist will take advantage of this tendency to further his goal of attaining worldwide domination

and control. He will accuse believers in Christ of being responsible for the world’s troubles and will strive

to identify them by proclaiming that all loyal citizens must bear his mark in their hand or forehead in order

to buy or sell anything (Rev. 6:9-11). Those refusing the mark will be identified as God’s people (Rev.

12:11; 13:7, 15-17).

Such a program on a worldwide scale will require a sophisticated communication network as well as a

government network of enforcers (v. 16). The chief enforcer will be a man whom the Bible declares to

be “another beast,” the Antichrist’s false prophet (Rev. 13:11-18). He will be a counterfeit version of

the genuine Elijah, who according to the Old Testament prophets, will reappear prior to Jesus Christ’s

return to earth as Messiah and Deliverer. Elijah will return, indeed, as one of the two witnesses already

mentioned (the other most likely being Moses) and both will perform many confirming signs and wonders,

as they did in the Old Testament times, with the intention of drawing God’s chosen nation of Israel back to



Him. The false prophet (the “Anti” Elijah) however, will perform signs and wonders so as to deceive the

nation of Israel and the world at large. The controlling of buying and selling will lead to worldwide

business monopolies. Many believers who refuse the mark will be beheaded and added to the company of

martyrs; while others will survive by God’s providence and later enter the Christ’s millennial kingdom

(Matt. 25:32-34).

Revelation describes Babylon as a gloriously affluent and secure city amidst a markedly contrasting

dark world that is beset with poverty, famine, hyper-inflation, persecution, and grave natural

disasters. At last God will judge this wicked city for its abominable acts by destroying it with fire in just

one hour: “and the merchants of the earth shall weep and mourn over her” (Rev. 18:11). Certainly, there are

many other Tribulation events foretold in Revelation, but these are the ones that picture the economic

system of this future time.

Is it possible that the ancient city of Babylon will be rebuilt and regain the greatness that it once had?

Two key prophecies suggest an answer:

According to the prophet Daniel, the ancient Roman Empire will regain world prominence as a global

government in the latter days (Daniel 2, 7, and 9). If the Roman Empire will re-emerge, there appears to be

no reason why Babylon could not do the same. Additionally, Isaiah and Jeremiah also indicate that at

some future time God will destroy Babylon totally, leaving it forever uninhabitable (Isaiah 13:19-22; Jer.

50:1-46). This never has taken place, for although Babylon was conquered by other nations; it never has

been totally uninhabitable as the following brief review of Babylon’s history reveals:

The first recorded mention of Babylon in the Bible is found in chapter 11 of Genesis where the mighty

hunter, Nimrod, gathered and coordinated mankind in an attempt to build the Tower of Babel. Centuries

later, Babylon apparently had reached the apex of honor and fame when Daniel identified it as being the

head of gold in Nebuchadnezzar’s dream (Dan. 2). Since that time, recorded history reveals that the land

that was Babylon has been occupied continually11: Historian, Herodotus (484-425 BC), visited and wrote

from ancient Babylon; Alexander the Great (356-323 BC) of Greece conquered and died there; General

Seleucus of Greece (358-281 BC) conquered Babylon as well; and Greek historian, Strabo, (63/64 BC-AD

25) visited and wrote about this city and place. In New Testament times, there were Jewish people from

Babylon visiting Jerusalem at Pentecost (Acts 2:8-10) and Peter wrote his first epistle from there (1 Peter

5:13), and in the 5th Century AD the Babylonian Talmud was written in Babylon. In our time, Babylon is a

11 Andy Wood. “What is the Identity of Babylon in Revelation 17-18.” Pre-Trib Org. Footnote 108. http://Pre-Trib.org/archieves



war-torn, derelict city that is inhabited by a sparse population, but it still exists. The prophecy of total

destruction that will render it uninhabitable has not been fulfilled as yet; in fact, the plan to rebuild

Babylon is as fresh as today’s news. In 1985, Saddam Hussein began to implement his extensive plans to

restore this city to the original glory of Nebuchadnezzar’s day. Since his demise, UNESCO announced in

2006 that the United Nations plans to continue its restoration. 12 There is no reason to believe that the

Babylon of Revelation will not be the literal, revived Babylon of ancient days.

SUMMARY OF TRIBULATION ECONOMICS

• The Antichrist will gain control of a union of ten nations or regions with the intention of forming a

worldwide kingdom that opposes Christ.

• The government of the Antichrist will carry out his policies in the political, economic, and religious

realms.

• Babylon will become the center of a worldwide government, commerce, and religion.

• Financial centers of today most likely will be replaced with Babylon becoming the financial hub of

the world

• Babylon will achieve preeminence among the cities and nations of the world and be regarded as

“the glory of kingdoms” (Isa. 13:19).

• War, famine, and natural disasters will cause the world to experience hyper-inflation.

• Believers will experience persecution and deprivation through governmental and economic policies.

THE ECONOMIC BRIDGE INTO THE TRIBULATION

The following scenario is presented with the admission that it

is only a POSSIBLE scenario of events to come that is based

upon observation and analysis of current and historical events

that have been extrapolated into the future by adhering to the revealed prophecies, truths, and principles of

Scripture. It is presented with the intention of warning Church Age believers and those who are yet unsaved

that the Rapture of the Church and the Great Tribulation could be very near indeed. It is important,

however, to recognize and acknowledge that the Rapture or “catching-up” of the Church could happen at

any moment, for nothing needs to be fulfilled before this event takes place (1 Thess. 4:17). Its immanency

3/13/09. 12 Jeffrey Gettleman, “Unesco Intends to put the Magic Back in Babylon.” International Herald Tribune-online, April 21, 2006.

http://www.iht.com/articles/2006/04/13/news/babylon.php



has been the “blessed hope” of believers throughout the Church Age (Titus 2:13). Christians have

always been admonished to be on the watch, to pay attention to the signs, and to be ready to meet

their Lord in the air at any moment. This scenario will begin with a brief history that has brought the

world to its current economic “crisis.”

THE ECONOMIC CRISIS OF THE 21ST CENTURY

In the United States, the heart of the current economic crisis began when the

government leaders decided to make housing available to greater numbers

of people, primarily to low income minorities and immigrants who

normally would not meet the requirements for a mortgage loan. They did

this through the Federal National Mortgage Association [Fannie Mae] and Federal Home Loan Mortgage

Corporation [Freddie Mac].13 14 The sale of homes soared as people bought houses, many with variable

interest rate mortgages. In 2005, 35% of all new mortgages were variable rate mortgages.15 These loans had

an initial low interest rate for the first several years of the mortgage and were obtained with the

understanding that a significant rate increase would “kick in” at a specified later date. Believing that house

values would continue to go up and average incomes would continue to increase, those in the

mortgage industry decided to forgo sound economic principles and move into legal “gray areas” as

they sought immediate financial gain. However, because many homes were purchased with little or no

down-payment and many people were put in the precarious situation of having to default when variable

interest rates increased but salaries stayed the same or jobs were lost when the economy slowed down.

Greed for money and political power had motivated those in both the banking industry and

government to abandon sound economic principles that would have regulated these bank loans.16

Politicians were eager to pass legislation that would gain them popularity with minority voting blocks, and

banks were happy to comply for a profit. The increasingly predominant “left” leaning philosophy in our

government leaders has promoted the general belief that everyone is entitled to home ownership.17 This is

an outcome of the socialistic concept that wealth must be redistributed and spread more evenly throughout

13 Steven A Holmes. “Fannie Mae Eases Credit to Aid Mortgage Lending.” The New York Times, September 30, 1999.

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260 3/19/09. 14 Charle W. Calomiris and Peter J. Wallison. “Blame Fannie Mae and Congress for the Credit Mess.” Wall Street Journal,

September 23, 2008. http://online.wsj.com/article/SB122212948811465427.html?mod=googlenews.wsj 3/19/09. 15 William Engdahl. “Is a USA Economic Collapse Due in 2005?” Studien von Zeitfragen, July 26, 2004. http://www.studien-

von-zeitfragen.net/Zeitfragen/Collapse_in_2005_/collapse_in_2005_.html 3/19/09. 16 “Fed Cuts Bank Reserve Requirements” Chicago Sun Times, Dec. 4, 1990. 17 Janet Albrechtsen. “Not Everyone Should Own a Home” Wall Street Journal, Oct. 6, 2008.

http://online.wsj.com/article/SB122325772150706655.html 3/19/09.



society. Those who hold to this ideology believe that the government must pass laws to control and

redistribute wealth.

In order to highlight the various “gear shifts” in the engrenage mechanism that brought us to this crisis it

is necessary to turn back the clock to the 1960’s, when the mention of God, Bible reading, and prayer

came under attack. It was during this decade that laws were passed prohibiting Bible reading and prayer in

many public schools and places. Organizations such as the ACLU began to erode and eradicate

Judeo/Christian values from society at large. Situation ethics began to be promoted by liberal teachers

across America and absolutes of right and wrong were lost, leaving many without a moral compass and

believing the new philosophy that “the ends justify the means.” As engrenage began moving Satan’s

program slowly forward, individuals who grew up under this educational philosophy came into positions of

leadership and influence within government, finance, and the world at large.

When great numbers of baby boomers began to enter society as young adults looking for jobs and crowding

universities, liberal thinkers of the time began to warn of a coming threat of over-population if birth rates

were not checked. This seemed especially likely to happen since the lowered moral standards of the

rebellious sixties increased the birthrate of babies to unwed mothers. More effective birth control methods

like the pill were promoted, and in 1972, Roe v Wade legalized abortion. This was another gearing-up move

in Satan’s plan. The desire for material goods and pleasure took precedence over having large

families. Many of the children of baby boomers grew up amidst affluence, have gone to college, married

late if at all, and have had few if any children. This has left an enormous vacuum in the work force that

needs people who are willing to do menial labor. The influx of immigrants (many illegal) from Latin

America and other third world countries filled this vacuum but at a great price: Not only have billions

of American dollars in wages been sent from the country to other nations, especially Latin America, but

along with the immigrants has come drugs and an increase in crime; an increased need for medical care and

schools and, of course, a need for housing. The massive invasion from south of the border is a major

contributing factor in the housing market crisis. Politicians are well aware of the voting power that this and

other minority groups represent. That is a major reason why they have failed to act in such a way as to stop

the banks from giving out high-risk mortgages. Greed for power and for profit is greasing Satan’s

engrenage mechanism.

Also during this period, American industrial productivity declined as foreign competition and

globalization encouraged businesses to move manufacturing offshore, primarily to China but also to Latin

America, India, and other Asian countries. The economy seemed to flourish as product availability



increased along with lower prices that encouraged people to buy on credit, believing that the economic

“boom” would never end. Few seemed to recognize or even consider that the “boom” which took place in

developed countries of the world was largely at the expense of sweatshop laborers in nations that have no

regard for human life, rights, and dignity.18 This could only be possible because business owners in Western

nations are greedy for profit and buyers of these products are either ignorant or willfully blind to the plight

of exploited human beings in foreign sweatshops because they want the inexpensive goods. Because we

now live in a global economy and rub shoulders and do business with nations that do not adhere to

the basic human rights that we hold dear, business owners and government leaders have had to make

moral choices as to whether or not to do business abroad. At the founding of our nation French observer,

Alexis de Tocqueville, said of our democratic republic:

“America is great because she is good. If America ceases to be good, America will cease to be great.”19

Surely God sees all that is transpiring and one day will bring justice. He may be allowing America to

decline for her many sins. He certainly did not spare nations of the past. He may use personal, business,

and government debt to bring America to her knees.

As buying increased and credit card debt mounted during the past two decades, the government ignored the

warning signs and relaxed cash reserve requirements for banks on all but checking accounts in the

early 1990’s.20 This was another move forward in the engrenage machine. As in the late 1920’s, people

thought that prosperity never would end. However, as it became more and more apparent that a credit

crunch was inevitable, home values began to tumble and many began to worry that a domino effect would

cause banks to fail and the economy to face a serious downturn. This is just what has happened, but other

factors have contributed to the current economic crisis as well.

On other fronts, the wars in Iraq and Afghanistan and the homeland war against terror have drained

US government reserves significantly; trade debt, especially with China, has caused the US dollar to

decline in value on the world market, and the high price of oil has “fueled” the crisis even further.

The United States has become like a leaking sieve with money pouring out through many holes. Not only is

the American economy at risk, but also, that of the world economy at large, for the complex intertwining of

18 Olivia Green. “Frequently Asked Questions about Sweatshops and Women Workers” Feminists Against Sweatshops, Sept.

1997. http://feminist.org/other/sweatshops/sweatfaq.html 3/19/09. 19 “Alexis de Tocqueville Quotes” Brainy Quote, BrainyMedia.com.

http://www.brainyquote.com/quotes/authors/a/alexis_de_tocqueville.html 3/19/09. 20 “Money Supply” Wikipedia. Wikimedia Foundation, Inc., 13 January 2009. http://en.wikipedia.org/wiki/Money_supply

1/17/09.



multinational businesses and industries makes this inevitable. Cleverly, Satan has orchestrated a window of

opportunity through which he can proceed toward his goal of world domination. As he brings the world to

the edge of depression, it is apparent that he is using the economy in his engrenage mechanism to

further his ends.

In an attempt to prevent further economic decline, US government leaders have passed what is considered

to be the largest stimulus package in history ($787 billion), one that will saddle the nation and generations

yet unborn with debt far into the future. This package includes a number of “bailouts” for major banks and

businesses because many believe that they are too big to fail, for many people would lose jobs and the

unemployment rate has been climbing. In spite of the bailouts, banks are reluctant to give out loans. The

stimulus package also included many so called “earmarks” that give massive amounts of money to “pet”

projects of politicians that have little, if anything, to do with creating jobs or stimulating the economy. All

of this has influenced the stock market that depends on loan availability and investment to promote growth

and productivity.

The Dow Jones average has plunged as the stock market continues to fall dramatically, causing many to be

apprehensive about their future financial security. Consumers have begun to cut spending and those in or

near retirement are seeing their investments shrink and 401K’s lose value. On the world market, the US

dollar and British pound have continued to depreciate against the Euro and the value of gold has risen

dramatically. Initially, countries within the EU followed the US in attempting to resolve economic problems

through measures taken within their own countries, but this aroused accusations of national

protectionism and threatened to unravel the unity of the European Union. Investors around the world

are beginning to clamber for a new global regulatory system as they lose confidence in individual

government solutions. Britain’s Prime Minister Gordon Brown has called for a global “New Deal,” and

German Chancellor Angela Merkel has proposed a new institution “which will take on more

responsibility for global [financial] mechanisms.”21 It appears that the interwoven fabric that binds

economies around the globe today has prepared the nations of the world to accept global restructuring on

a grand scale—world leaders have begun to call for a global regulatory system that is patterned after

the 1944 Bretton Woods agreement.22

Bretton Woods (New Jersey) was a meeting of 44 allied nations that was held near the end of World War II.

21 “Brown: World needs ‘global New Deal’” CNN.com/Europe Feb. 22, 2009

http://www.cnn.com/2009/WORLD/europe/02/22/germany.financial.summit/index.html 2/23/09. 22 “2008 G-20 Washington Summit” Wikipedia, the Free Encyclopedia, Wikimedia Foundation, Inc. March 2, 2009.

http://en.wikipedia.org/wiki/2008_G_20_Washington_Summit 3/19/09.



It established a system of rules, institutions, and procedures to regulate the international monetary system.23

Basically, Bretton Woods established international currency exchange rates based upon the gold standard.

In 1971 the strong US dollar replaced gold as the standard and became what is called the “reserve

currency.” The success of the Bretton Wood’s system called for “tight controls on the value of

currencies.”24 It was formulated by those who wanted to avoid another depression and believed that it

would eliminate trade and exchange rate issues that had contributed to the Great Depression of the 1930’s.

Believing that the current world economic crisis calls for a solution similar to the Bretton Woods system,

French President Sarkozy recently voiced his opinion that world economic leaders need to rethink “the

financial system from scratch, as at Bretton Woods.”25 This is a brief review of events that have contributed

to building the economic “bridge” that will connect the pre-Tribulation, pre-Rapture world economy with

the world economy of the Tribulation. From this point on the following is speculation:

A LIKELY SCENARIO OF ECONOMIC EVENTS TO COME

As individual national governments continue to intervene in their economies at home, it seems probable

that some will follow the example of the United States by giving grants and bailouts to banks, insurance

companies, and vital industries (effectively buying debt). This will impact other nations because of the

intertwining of national economies as previously noted. Inequalities will begin to grow, creating tensions

between nations.

Consumers around the world will increasingly save rather than spend or invest money, causing the

economic crisis will worsen.

As exchange rates begin to fluctuate, some people will begin to invest in other currencies in the hope of

gaining a profit while others will seek offshore banking as hiding places for their earnings and to avoid

increasing taxes at home. The worsening world economic crisis will be accompanied by world leaders

demanding intervention on a global scale and will be viewed as the only viable solution to the problem.

This will be the temptation that will make Satan’s engrenage solution irresistible.

In April 2009 the G20 (a group of twenty industrial nations that began in 1977 as the G7 and has been

added to since) will meet to discuss this issue in the hope of developing a global economic strategy. This

upcoming meeting has been named “Bretton Woods II.” The G20 met November 14-15, 2008 and agreed

23 “Bretton Woods System” Wikipedia, the Free Encyclopedia, Wikimedia Foundation, Inc. Jan. 11, 2009.

http://en.wikipedia.org/wiki/Bretton_Woods_system 1/15/09. 24 Ibid. 25 Ibid., quoting George Parker, Tony Barber, and Dnaile Dombey (October 9, 2008). “Senior figures call for new Bretton Woods



that an “all-encompassing reform of the international financial system” is needed.26 It was here that the

European Union Council representative called for global standards of regulation.27 Nigel Pain of the

Organisation for Economic Cooperation and Development requested that the EU establish just such a

regulatory group with a supranational form.28 German Chancellor Merkel and French President Sarkozy

have united in calling for a “new architecture for managing global capitalism.”29 Merkel noted, “no country

can act alone in this day and age, not even the United States, however powerful they may be.”30 Since the

November meeting, world leaders have increasingly begun to talk of the need for a single financial system

over all the industrialized countries of the world. It appears that Satan is furthering his plan for controlling

the world’s economy and eventually the nations of the world by using the EU’s leadership. It is quite

possible that decisions that come from the April gathering of the G20 will add momentum to his “gearing

up” process. Most likely this will involve proposals for a supranational economic agency and a single

currency. Both the United Nations and Russia have called for the elimination of the US dollar as the

reserve currency of the world, citing the success of the Euro.31 In a recent Cal Thomas article, Thomas

quoted Australian historian Geoffrey Blainey as saying, “For the first time in human history, world

government of some sort is now possible.”32 At the conclusion of his column

Thomas said, “So yes, I’m starting to believe in the possibility of one-world government and it should

be vigorously opposed if America, as we know it, is to be preserved.”33

Americans easily will fall prey to this solution if government spending continues to spiral out of control and

one more factor kicks in—hyperinflation.

In the near future the US economy will begin to experience hyperinflation as bailouts and enormous

budgets grow to record heights, forcing the government to print more money.34 As the dollar drastically

ahead of Bank/Fund meeting” http://www.eurodad.org/whatsnew/articles.sapx?id-2988 . 1/15/09. 26 “2008 G-20 Washington Summit” Wikipedia, the Free Encyclopedia, Wikimedia Foundation, Inc. Dec. 4, 2008.

http://en.wikipedia.org/wiki/Bretton_Woods_II 12/16/08. 27 Ibid. 28 “Report Cites need for Eurozone Central Regulator.” EUobserver.com, 1/14/09. http://euobserver.com/9/27409?print=1

1/14/09. 29 “Merkel and Sarkozy call for global ‘economic security council’” Euobserver, 1/9/09. http://eurobserver.com/9/27373 1/9/09. 30 Ibid. 31 Jeremy Gaunt. “U.N. Panel says World Should Ditch Dollar” Reuters News Service, Mar. 18, 2009.

http://www.reuters.com/article/newOne/idUSTRE52H2CY20090318 32 Cal Thomas. “Think Globally; Act Globally?” Townhall.com

http://townhall.com/columnists/calthomas/2008/12/11/think_globally;_act_globally?page=full&cmments=true 12/13/08. 33 Ibid. 34 “Media Alert: Hyperinflation is Big Risk for US Economy in 2010” MSNBC Wire Service, March 11, 2009.

http://www.msnbc.msn.com/id/29637046/ 3/19/09.



drops in value, nations such as China will begin to call in US debt obligations.35 A black market and

barter system will develop rapidly as people struggle to make ends meet and avoid paying

government taxes. Some will exchange their cash for more valuable currencies such as the Euro or

purchase tangible assets such as gold. Eventually the US government will follow other nations by

bringing in tax cuts, but by then individuals literally will be hiding their money or stashing it in

offshore bank shelters abroad, causing government tax revenues to decline. Some countries will begin

to impose trade barriers to hinder their own people from buying goods from countries with low-

valued currency. When all this takes place, the Bretton Wood’s II proposal for a single world currency will

seem to provide a solution to an urgent need for economic stability.

A SINGLE CURRENCY

Initially, a single global currency would be seen as offering a solution to many of the world’s economic ills:

it would eliminate exchange rate investments, even out trade by removing barriers between nations, and

allow national debts to be adjusted. The changeover would require that people bring in their money and

exchange it for the new currency. This would force people to reveal their total worth in assets at home

and abroad, making taxation easier. Because the “Euro” has been gaining value against the dollar it quite

possibly will be the currency that is chosen. The need for expediency may force the nations to turn to

the Euro, for it offers a minimal switchover time and an existing system. However, a new currency could

be proposed. Once established, the new system will require international regulation.

Patterning their actions after Monnet’s supranational governing model, a system which places officials who

are supposedly above personal and national self-interest in positions of authority, an economics regulations

and control department will be established. EU analysts “point to the borderless nature of international

finance as a reason for supranational regulation.”36 Sarkozy has already suggested that the countries

using the Euro need an “economic government.”37 It is likely that the European Union will become the

center of this agency, at least in the beginning. In order to limit the size of this unwieldy, multinational

regulating body, the world’s nations will be divided into economic zones (perhaps ten as the prophet,

Daniel, foretold [Daniel 7:24]). The groundwork for this restructuring has already been laid within the EU’s

governing body that has a Committee of Regions. In many ways both large and small, Satan has been

35 Keith Bradsher. “US Debt is Losing its Appeal in China” International Herald Tribune online, January 8, 2009.

http://www.iht.com/articles/2009/01/07/business/yuan.php?d=1 1/8/09. 36 Willis, “Report cites need for eurozone central regulator.” 37 Charles Bremner. “Israel Mission shows Super Sarko Leadership will not End with EU Presidency” Time Online, Dec. 31,

2008. http://www.timesonline.co.uk/tol/news/world/europe/ariicle5423771.ece?print=yes& randnum=1230820215543 1/1/09.



“gearing up” the world and waiting for an opportunity such as this. As the engrenage process gains

momentum, the EU will grow as it continues to absorb nation-states, making them part of what possibly

may come simply to be called, “the Union.” Competition and tensions between countries will be

eliminated. With free borders, free trade, and a common currency, the world economic crisis will be averted

and prosperity will prevail, but it will come at an enormous price—the yielding-up of sovereignties and

self-determination by the nations of the world! The location that will be chosen for the center of this

supranational, economic governing body will solve other tensions as well.

To eliminate any possible tension between the United States, the European Union, and other nations of the

world, the economic center will be moved to a more neutral location, Babylon. This will appear to be

the perfect place for the world’s economic headquarters for a number of reasons:

• First, it will soothe the consciences of those who objected to the war in Iraq and will help to bring it

stability, peace, and prosperity;

• second, the rebuilding of Babylon will become a project that unites the peoples of the world; and

• finally, the Arab and Muslim nations will be appeased as money and honor flows to their region

assuring them of their importance.

Like Babel it will become a symbol of world unification. The only remaining economic issue will be one

that is common today—identity theft.

The buying and selling of goods between nations will be improved by using the common currency, but it

will not solve all problems for not all transactions will be open and transparent and there will be a black

market. Also, some individuals will want to avoid paying taxes, hoard money, counterfeit, steal, deal in

credit card fraud, and use fake identity cards. This is when the Union will offer another solution in its

continuing engrenage moves toward complete economic control—cash will be done away with and all

buying and selling will be monitored through centralized computers that keep track of everyone’s

assets. This will lead to one final step in Satan’s plan to attain world economic control.

To verify identification and avoid fraud, every individual will be ordered to receive a mark (most likely

a chip implant) in his or her hand or forehead. This mark probably will bear the person’s identity number as

well as the number of the Antichrist (Rev. 13:17). This move will be made in the guise of economic

prudence but in reality, it will expose those who are not loyal to the Antichrist. Those who are saved after

the removal of Church Age believers will be put to the test when they must decide whether or not to take

the mark. Most who refuse will be killed, but a remnant will be allowed to survive by God’s providence and



to enter the Millennial Kingdom of Christ at the end of the Tribulation. The development of the chip

implant for the beneficial purpose of keeping track of pets, individuals with health conditions, and for a

variety of other reasons has been just another of the engrenage moves that Satan has used to forward his

plan for world domination and control. However, it is important to understand that technological devices

such as computers and chip implants are not evil in and of themselves, for they are just neutral carriers

of information that can be used for good as well as evil.

This concludes the sequential portrayal of events that may connect the economic crisis of today with the all-

encompassing control of the world’s economy by the Antichrist during the Tribulation. Only time will

reveal whether these predictions are accurate or not. If the precise details should prove to be in error due to

the fallibility of the human agent one thing is certain, what the Bible says about future events is true, for

God never fails to keep His word. The world with its ungodly people, nations, and false religions is heading

toward the Great Tribulation. As God pours out His wrath on ungodly people and nations He will also be

calling out individuals from the gentile nations and His chosen nation, Israel. Jesus Christ will return with

His Bride in great glory to rule and reign the restored earth with Him for one thousand years and on into

eternity.

Unlike Satan who employs devious and subtle methods such as engrenage to achieve his ends, God is

always open and “above board” in His dealings with humanity. He has given us the Scriptures that not

only tell us His goals, and purposes for the earth and mankind, but also, He has invited us to be a part of

His glorious plan through faith in the redeeming work of His Son, the Lord Jesus Christ. Along with

salvation comes the indwelling power of the Holy Spirit who enables us to understand God’s Word more

fully and to walk by faith in a godless world. He equips us with the armor that we need to withstand all

of the onslaughts of the Devil and gives us the power to influence and change circumstances through

prayer—prayer that reaches directly to the throne of God! In light of these truths two questions come to

mind: Is the Church in any way responsible for what is happening in the world today? How should

believers respond to what is taking place around them?

Our next White Paper will answer these two questions.