G-20 Heralds Global Regulation
BRUSSELS—Here in Belgium, host nation to the seat of the European Union based in Brussels, the nation’s capital, few signs of the current global economic stress are evident other than less traffic at the capital’s usually bustling airport. But in Pittsburgh today, the leaders of the top 20 world economies meet to find a way forward in the effort to stabilize the global economy.
The current meeting of the leaders of the top 20 economies in the world is set to bring global regulation of the world economy one step closer.
For many years this magazine has watched, prophesied and reported on the progress of the descent of the global economy into its present crisis. In all of this we have been anticipating the day when the prophecy of Revelation 13:11-18 would be fulfilled.
September 2008 heralded the early rise of a European regulatory authority which will be the catalyst to fulfill this inerrant Bible prophecy for our times. A major consequence of the global financial crash of September 2008 was the rise of the Financial Stability Board (fsb), an EU-controlled regulatory authority, into a place of prominence on the world scene. As a direct consequence of the global crash, all G-20 nations have signed up to a plan to permit the fsb to regulate their economies. The latest G-20 meeting being held in Pittsburgh this week will further accelerate the regulation of the global economy by EU central bankers.
With climate control and a proposed cap on excessive executive bonuses, though spurious to the central themes of financial control, being dwelled on by our greatly uneducated press and mass media, one has to dig deeper to find the matters of greatest concern in the G-20 debate.
EU Observer reports that “serious debate in the area of increased capital for banks is expected, with EU banks concerned this will have a disproportionate effect on them. The chair of the Financial Stability Board, Mario Draghi, is expected to come forward with proposals in this area” (September 24). The same source mentions that, in relation to the bonus issue, “Mr. Sarkozy in particular has played up to public outrage in France, while the Dutch government decided to seize the moral high-ground with a unilateral action to limit bonuses just days after a meeting of G-20 finance ministers in London this month called on the Financial Stability Board to come up with a solution.”
However, of greatest concern as the G-20 meet are the bullying comments made by Germany’s minister of finance regarding Britain. Reporting for the Telegraph, Ambrose Evans-Pritchard elucidates on what he terms “the latest breathtaking provocations of German Finance Minister Peer Steinbrück,” speaking “officially for the German government and for the German nation on the international stage.” In a recent interview with the German magazine Stern, Steinbruck “accused the UK government of ‘doing its best’ to sabotage stricter financial regulation at the G-20 in Pittsburgh. This resistance will be crushed. ‘We will effectively change the rules on the financial markets.’
“What he said, in effect, is that Germany will marshal its forces to ensure that a chunk of the British economy is shut down—whatever the social consequences. This is the closest thing I have seen to a declaration of economic warfare in Western Europe in my lifetime” (September 22).
Coming hard on the heels of French President Sarkozy threatening the Czech Republic with “dire consequences” if that nation frustrates the Lisbon Treaty ratification, it seems that the EU beast is suddenly baring its teeth.
Watch the Pittsburgh G-20 meeting for the continuing supine submission of the Anglo-Saxon nations to the imposition by the EU-controlled fsb of enforceable regulations by that body on their respective economies.
As you watch, know that these events are falling into place exactly as Herbert W. Armstrong prophesied they would.
Read our booklet The Rising Beast for a deeper understanding of what is happening in Pittsburgh this week.