Reading Between the Lines

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0 height="100%"><tr> <td valign="top" width=168 BGCOLOR="#000000" TEXT="#F7F7FF" background="129a11c3.png"> <div> <A HREF="index.htm" TARGET="_top" TITLE="Welcome to the Heart4God Website!"><U><B><IMG SRC="4b55a500.png" border=0 width="90" height="80" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></U></A></div> <bR> <div> <A HREF="id2.htm" TARGET="_top" TITLE="The Writings of Joseph Herrin"><U><B>Writings by Date</B></U></A></div> <div> <A HREF="id212.htm" TARGET="_top" TITLE="The Writings of Joseph Herrin Organized "><U><B>Writings by Topic</B></U></A></div> <div> <A HREF="http://www.heart4god.ws/Audio/index.htm" TARGET="_top" TITLE="http://www.heart4god.ws/Audio/index.htm"><U><B>Audio Files</B></U></A></div> <div> <A HREF="id690.htm" TARGET="_top" TITLE="Videos"><U><B>Videos</B></U></A></div> <div> <A HREF="id323.htm" TARGET="_top" TITLE="Writings of Others"><U><B>Other Authors</B></U></A></div> <div> <A HREF="id324.htm" TARGET="_top" TITLE="Links"><U><B>Links</B></U></A></div> <div> <A HREF="id339.htm" TARGET="_top" TITLE="Questions and Answers"><U><B>Q&A</B></U></A></div> <bR> <div> <A HREF="id328.htm" TARGET="_top" TITLE="Heart4God Email List"><U><B>Heart4God E-mail List</B></U></A></div> <div> <A HREF="http://www.parablesblog.blogspot.com" TARGET="_top" TITLE="http://www.parablesblog.blogspot.com"><U><B>Parables Blog</B></U></A></div> <bR> <div> <A HREF="id306.htm" TARGET="_top" TITLE="File Downloads"><U><B><IMG SRC="2b264140.png" border=0 width="100" height="20" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></U></A></div> <bR> </td> <td valign="top" BGCOLOR="#000000" TEXT="#F7F7FF"> <bR> <div> <B>Reading Between the Lines</B></div> <div> <IMG SRC="c2827160.png" border=0 width="807" height="22" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></div> <bR> <div> Dear Brothers and Sisters in Christ,</div> <bR> <div> I found it very profitable recently to hear from various ones on this mailing list concerning the things the Spirit was speaking to you. As I was able to share these things with others on this mailing list, many more were encouraged, exhorted, and instructed.</div> <bR> <div> I would now like to ask you what, if anything, you are hearing on another topic in order that I might also share these things with the rest of our brothers and sisters that they might prepare in whatever way the Spirit should lead them. The topic I am speaking of is the impending economic collapse of America.</div> <bR> <div> There has been much in the news recently relating to economic upheaval, and the President of the United States has even addressed the nation specifically to calm people's fears relating to the economy. Indeed, there is much to be concerned about.</div> <bR> <div> Those of you who have been receiving these writings for some time know that the Lord has revealed through numerous signs that a great collapse will come suddenly to America. My most recent writing on this topic was <I>The Sign of Comet Holmes</I>. My friend Randy Simmons, who the Lord has said is to join me in the coming work He will raise up, was asking the Lord about those things foretold in this writing. He said that he did not doubt that judgment was coming to America and that the economy would fall, but he wanted the Lord to speak it plainly to him.</div> <bR> <div> As he was driving down the Interstate outside of Macon, Georgia, he prayed asking God about this matter. He then looked over to the Interstate off ramp and he saw approximately twenty motorcycles riding together in pairs. All of the men had on black jackets, except for one man who was in the last pair of riders. This man had on a leather jacket with large red, white and blue stripes and stars on it as well. The motorcycles stopped at a traffic light, and as they did Randy witnessed the last man, the one with the American flag jacket, fall over. The person next to him tried to catch him, but could not keep him from falling. The man just lay on the ground and did not get up as if he had a heart attack. As Randy was on the Interstate, he could not stop and help out, but he was deeply impressed as he had just asked the Lord to show him if America was going to fall.</div> <bR> <div> Most of you probably don't need me to tell you that America's economy is in a desperate condition. Some have compared its current state to the perfect storm. It is being buffeted on many sides. Weekly, and sometimes daily, we are reading about some government action to stave off impending collapse. Just this past week the Federal Reserve took the extremely unusual action of pumping $200 billion dollars into the banking system in response to the collapse of the major investment bank Bear Stearns' liquidity problems. News reports have declared that this step was necessary as the collapse of this one bank would have had a domino effect on many other financial institutions.</div> <bR> <div> Fortune magazine last week had an article titled "Bear Stearns' No. 1 Foe, Fear Itself." In the article the following was stated:</div> <bR> <div> <I>The Fed's role in the deal suggests federal officials fear a systemic collapse of the U.S. financial system were Bear Stearns to fail. The fear stems from Bear Stearn's central role in a multitrillion-dollar web of interconnecting derivative contracts...</I></div> <bR> <div> <I>The bottom fell out on Thursday, Bear Stearns CFO Molinaro told investors. The demands for cash came from counterparties as well as hedge fund clients who wanted to close out their prime brokerage accounts. The market voted with its feet and wallets...</I></div> <bR> <div> <I>If the panic doesn't subside soon, Bear Stearns may be the least of the Fed's problems.</I></div> <div> [Source: <FONT SIZE="4" COLOR="#0000FF" FACE="Georgia" ><A HREF="http://money.cnn.com/2008/03/14/news/bearstearns.fortune/index.htm" TARGET="_top" TITLE="http://money.cnn.com/2008/03/14/news/bea"><U><U>http://money.cnn.com/2008/03/14/news/bearstearns.fortune/index.htm</U></U></A></FONT>]</div> <bR> <div> The same week the dollar sank to all time record lows in its exchange rate with major world currencies. For the first time ever the dollar and the French Franc traded at even parity. The dollar also hit record lows against the Chinese Yuan and the Euro. Some who are very knowledgeable about financial matters, such as billionaire Jim Rogers, have shared that it appears that the Federal Reserve does not care about the value of the dollar at all, but are taking steps to deliberately devalue it. In an interview with Fortune magazine he stated:</div> <bR> <div> <I>What I said was, if they cut interest rates it’s going to be a signal to the rest of the world that we don’t care about the dollar, that we want the dollar to go down.</I> </div> <div> [Source: <FONT SIZE="4" COLOR="#0000FF" FACE="Georgia" ><A HREF="http://www.boom2bust.com/2007/12/27/jim-rogers-packs-his-bags/" TARGET="_top" TITLE="http://www.boom2bust.com/2007/12/27/jim-"><U><U>http://www.boom2bust.com/2007/12/27/jim-rogers-packs-his-bags/</U></U></A></FONT>]</div> <bR> <div> Now many nations are speaking of divesting themselves of all their holdings that are dollar denominated. The United States has been selling hundreds of billions of dollars worth of financial securities every year to foreign investors. This money has been used to fund America's governmental spending, including her military spending and her many social programs. Should these foreign investors cease buying these American securities, and even begin to dump them onto a market where there are no buyers, then America would immediately be brought to the same condition as the investment bank Bear Stearns.</div> <bR> <div> This is already beginning to happen. China has been the largest purchaser of these American securities, and she has recently indicated that she will not be buying them to the degree she had been, but will seek other investment opportunities. Other nations have followed suit.</div> <bR> <div> At the same time, the dollar is being rejected as the reserve currency of the world. Nations, companies, and individuals are choosing to trade in other currencies, such as the Euro, the Yen, or the Chinese Yuan. Even oil, which has been for decades traded almost exclusively in dollars is now seeing a departure from this trend. Iran recently set up its own trading board and is conducting all oil trades in Euros. Venezuela has followed suit, and others are sure to follow.</div> <bR> <div> I have recently read a couple of news articles relating to Americans fleeing the dollar. Among those doing so is the Vice President Dick Cheney who recently moved a major portion of his investments out of the dollar and into Europe. He also recently purchased a home in Dubai. What Dick Cheney did quietly, another American who is a billionaire has done publicly. Billionaire Jim Rogers has gotten out of the dollar in favor of the Chinese Yuan, and he has even moved his family to Asia where he says he wants his children to grow up.</div> <bR> <div> See News links: </div> <div> <A HREF="http://www.counterpunch.org/whitney07052006.html" TARGET="_top" TITLE="http://www.counterpunch.org/whitney07052"><U><U>http://www.counterpunch.org/whitney07052006.html</U></U></A><FONT SIZE="4" COLOR="#FFFFCC" FACE="Georgia" > </FONT></div> <div> <A HREF="http://www.bloomberg.com/apps/news?pid=20601087&sid=amQBwDBSDvBE&refer=home" TARGET="_top" TITLE="http://www.bloomberg.com/apps/news?pid=2"><U><U>http://www.bloomberg.com/apps/news?pid=20601087&sid=amQBwDBSDvBE&refer=home</U></U></A></div> <bR> <div> If you read the article on Counterpunch at the above link, you may not agree with all that is said about the government collusion in seeking to transfer the wealth of America's middle class to an elite class. Yet, I have little doubt that such events are being done intentionally. The bankers at Bear Stearns have made billions of dollars in recent years, and now that the bank is teetering from having cashed out all the profits it accrued in years of largesse, it is the taxpayer who will ultimately foot the bill.</div> <bR> <div> Should you think that it is merely a coincidence that New York Governor Eliot Spitzer was picked up by an FBI wiretapping operation that was investigating prostitution rings, then you may think differently when you learn that George Bush and those in league with him had reason to want to bring Spitzer down. Just last month in the Washington Post Spitzer wrote an article about the predatory lending practices of Wall Street Banks and Bush's complicity in it. You can find the article here: </div> <div> <A HREF="http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html" TARGET="_top" TITLE="http://www.washingtonpost.com/wp-dyn/con"><U><U>http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html</U></U></A></div> <bR> <div> I don't believe the FBI just happened to be investigating the prostitution house he patronized. Spitzer wrote in the article dated February 13, 2008:</div> <bR> <div> <I>Even though predatory lending was becoming a national problem, the Bush administration looked the other way and did nothing to protect American homeowners. In fact, the government chose instead to align itself with the banks that were victimizing consumers...</I></div> <bR> <div> <I>Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures, including New York's, enacted laws aimed at curbing such practices.</I></div> <bR> <div> <I>What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge? As Americans are now painfully aware, with hundreds of thousands of homeowners facing foreclosure and our markets reeling, the answer is a resounding no.</I></div> <bR> <div> <I>Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.</I></div> <bR> <div> <I>Let me explain: The administration accomplished this feat through an obscure federal agency called the Office of the Comptroller of the Currency (OCC). The OCC has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks to make sure they were balanced, an important but uncontroversial function. But a few years ago, for the first time in its history, the OCC was used as a tool against consumers.</I></div> <bR> <div> <I>In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules.</I></div> <bR> <div> <I>But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration in its goal of protecting the banks. In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation.</I></div> <bR> <div> As Governor of New York, Spitzer had credibility and a wide audience, and this was a threat to those who do not want their activities to be exposed. Spitzer's credibility has now been cast into doubt and his criticism silenced.</div> <bR> <div> Whether you believe that there are men and women in government and banking who are intentionally setting America up for a fall, doesn't have bearing upon the fact that a fall is coming. Understanding a collapse is near, what should Christian's be doing to make themselves ready? I believe the answer is not found so much in stockpiling food and supplies as some did prior to Y2K, although there are certainly practical steps that should be taken. The foremost practicality is to get out of all debt. I don't know how much time is left to do so. Many Christians who are sensitive to the Spirit began hearing the Spirit leading them to do this years ago, and are now completely out of debt. This is to be desired greatly.</div> <bR> <div> Yet the greatest preparation by far is that of learning to trust God for all direction and provision. Those who make Yahweh their refuge will be sustained in coming days. It is imperative, however, that our lives be focused on seeking God's will and doing it above all else. It is a pursuit of selfish desires and fleshly passions that has led God to make the judgment that America should fall, and that those in the church should be judged along with her. God wants a purified church, and the wake-up call is going to come very hard for most who have not been pure in their devotion to Christ, having divided hearts that have run after the world and all it has to offer.</div> <bR> <div> I am interested in hearing what others on this list have been hearing the Spirit speak about impending judgment and financial collapse. The Lord has said that we are to understand the times that we live in. As we do, we will live sober lives pursuing Christ with all our heart.</div> <bR> <div> I Thessalonians 5:4-6</div> <div> But you, brethren, are not in darkness, so that this Day should overtake you as a thief... Therefore let us not sleep, as others do, but let us watch and be sober.</div> <bR> <div> May you be blessed with peace and understanding in these days, </div> <bR> <div> Joseph Herrin</div> <bR> </td> </tr></table></body>