Mario Draghi’s Moment—the Devil’s in the Details
The president of the European Central Bank, Mario Draghi, has, seemingly overnight, become the most powerful single personality having influence over the world economy.
Long predicted by the Trumpet, this outcome should be no surprise to our readers. In less than a year since taking over the European Central Bank presidency in November 2011, the Jesuit-educated son of Rome, Mario Draghi, suddenly holds power far in excess of his counterparts at the Federal Reserve, the International Monetary Fund and the World Bank.
As Associated Press reported yesterday,
The European Central Bank president is overtaking the Federal Reserve chairman … as the central banker with the most influence on the global economy and markets. … As head of the ecb, which meets Thursday, Draghi also has more ammunition left than Bernanke does. … [T]he focus of the global financial world has shifted to Draghi. …
”Draghi’s role in averting an implosion of the eurozone puts him in the unfortunate position of being the central banker with the greatest influence on global financial stability in the short term,” says Eswar Prasad, professor of trade policy at Cornell University.
However, there is one powerful influence that places limits on Draghi’s initiatives—the combined political and economic clout of Europe’s most dominant nation, Germany.
“Theoretically, Draghi has limitless power to print money to pour into bond purchases. But Germany’s conservative Bundesbank opposes the purchase plan. It says governments could become addicted to central bank support—and slack off on cutting their deficits” (ibid).
As Julian Brigden, managing partner of Macro Intelligence 2 Partners, an investment consultancy, reportedly observed, “Draghi can do a lot, but he’s significantly more constrained by politics” (ibid). Those politics are overwhelmingly German. Recognizing this, last week Draghi sent out a special appeal to the German electorate to support his initiatives.
“Draghi urged Germans to support his efforts to rescue the euro. Writing in the German weekly Die Zeit, he said the ecb sometimes must use ‘exceptional measures’ to stabilize the currency alliance” (ibid).
Thus it is, as we have publicized in the recent past, Europe is once again at the behest of a Rome/Berlin axis. To the extent that Mario Draghi’s decisions in concert with Berlin impact global markets—and the possibility is considerable—this really means that the global economy is currently at the disposal of decisions made by the Rome/Berlin axis.
That this current outcome rings with powerfully prophetic overtones will be dramatically obvious to anyone even with a surface knowledge of the prophecies of Revelation 13 and 17.
That the devil’s in the details is made quite apparent by the inerrant prophecies contained in Revelation 13:2, 4, 16-17.
That the massively disruptive outcome of this scenario is now so imminent should be obvious to all students of Bible prophecy. There has never been a time when the need to warn the world of this outcome was more urgent!
Read our booklet Who or What Is the Prophetic Beast? for an educated approach on this vital and timely subject.