Banking & Finance Mountain
From the beginning, God told people they could not serve God and money. It's one or the other. That is because money is one of the evil systems Satan uses to control people.
The world's banking systems have become corrupted by their integration with the Mountains of Government and Multinational Corporations. Today, money deposited in banks doesn't belong to the depositors; in a crisis, it becomes an asset and equity share of the bank itself (thanks to the Dodd-Frank Act passed after the 2008 financial meltdown).
In some areas, depositors are charged interest for the privilege of making deposits, and banks may cancel depositor relationships at any time without explanation or recourse.
This is not how God directed money to be handled. It is not that money in itself is evil, but that God knew that the riches of this world would be incredibly enticing and evil forces would use it to hook people looking for power, influence, security, and self-gratification to do evil things - like trafficking/enslaving/exploiting other humans.
This Banking-Finance Section points out how people currently focus on obtaining money for food, shelter, education, living expenses, and more to achieve happiness, pleasure, and more. It will focus on putting God first and receiving blessings from a personal relationship with Him for doing so.
The events in this Mountain and their consequences are contrasted with God's Plumbline of Truth.
We have underlined added links to supplemental information below.
What Are World Reserve Currencies?
Government counts on the fact that the average citizen does not understand the global banking system. Today, almost every nation has its paper currency used as a media of exchange within that nation to buy or sell goods and services. Many, including the U.S. Dollar, are not backed by anything (or precious metals).
However, when it comes to buying and selling between countries (or between multi-national corporations located in two different countries) two different currencies are involved - the currency of the buyer and the currency of the seller. In which currency will the deal be settled? Each country would like it to be done in their own currency, of which they have plenty and not in the other currency, of which they may have little. Certain currencies have been picked as currencies to settle international transactions in. These are called World Reserve Currencies. At present, the U.S. Dollar is one of these World Reserve Currencies (WRC). If a currency loses its status as a WRC, their foreign exchange can be disrupted, e.g. what they can import and export.
WRCs are specific currencies central banks and governments hold in significant quantities as part of their foreign exchange reserves. The advantage of the country whose currency is a WRC, is that the country can simply PRINT new money to purchase goods and services, whenever it wants to.
Today, world reserve currencies include the U.S. dollar, Euro, Japanese yen, and the British pound. Note that all of these are currencies of Western alliance countries, those hostile to non-democratic societies, especially Russia, China, Brazil, India, Venezuela and most of the third world and the Middle Eastern countries. These countries do not like the ability of these other countries, particularly the USA ,to control their foreign exchange transactions for political purposes. As a result, they formed the BRICS alliance so they can trade in any of their currencies, instead of in U.S. dollars.
As the value of the U.S. dollar declines, these are becoming more attractive currencies in which to conduct international trade among nations.
IMF
The International Monetary Fund (IMF), a global financial institution, recognizes eight major reserve currencies. These currencies are crucial because they facilitate cross-border transactions, reduce exchange rate risks, and enhance economic stability. The U.S. dollar has been the dominant reserve currency since World War II, supported by its global use in trade and investment. It is involved in 90% of foreign exchange, 85% of spot, forward, and swap markets, and 60% of officially disclosed foreign reserves, although this has declining.
Many countries, including the BRICS (Brazil, Russia, India, China, South Africa (and other)) countries, are working to undermine the U.S. dollar or offer an alternative, such as the World Reserve Currency. This would prevent the U.S. from applying sanctions on other countries at its whim for geo-political and foreign policy purposes. The BRICS alliance expanded substantially in 2023. The Chinese renminbi is now used as a world exchange currency as well, particularly by BRICS countries.
How Reserve Currencies Are Used: When countries trade goods and services, they often use reserve currencies for invoicing. For example, oil transactions are typically priced in U.S. dollars. So any other nation must have dollars in order to buy oil, which means that they must sell their goods to the U.S. or someone else who will pay them in U.S. dollars, so they have come to purchase things that must be paid for in U.S. dollars.
Foreign Exchange Reserves: Central banks hold reserve currencies to stabilize their currencies and manage exchange rate fluctuations.
Investment and Bonds: Foreign governments invest in U.S. Treasury bonds and other assets denominated in reserve currencies.
Settling International Debts: Countries settle debts and obligations using reserve currencies, ensuring smooth cross-border payments made through the International Bank of Settlements (IBS).
Role of the IMF: The IMF monitors the international monetary system and encourages cooperation among countries. It provides liquidity to member countries in times of crisis through its reserve asset called the Special Drawing Rights (SDR), which is a basket of major reserve currencies.
Crypto Currency & Tokens
Cyber currencies were created to circumvent the bank's and government's ability to track, control, and block the use of funds or expenditures. Bitcoin (BTC) and Ethereum (ETH) are today's best-known cybercurrencies. There are many others, including stable cyber coins.
The value of these cyber currencies changes are based on the availability of 1) supply, 2) demand, and 3) faith in them as assets. Faith in cyber assets refers to the belief that these cyber currencies have value and can be converted when necessary to other non-cyber (fiat) currencies or, in some cases (stable coins) used to purchase goods and services directly.
This faith is similar to faith in printed paper currencies like the U.S. dollar, which has nothing of value backing them. The difference in cyber currencies is that they cannot be created by governments printing them, nor does their existence cause inflation when created. Their appeal is that they are not subject to government oversight and control. As worldwide central banks switch to digital currencies, consumers increasingly value freedom from surveillance or government and traditional bank control.
Cybercurrency may become more important as a global, one-world government attempts to reset the world, take control of all countries, and eliminate all national borders.
Bias Against Small Businesses
Before the COVID-19 pandemic, there were 5.6 million small businesses (with less than 250 employees each) in the USA, employing over 8 million people. During pandemic lockdowns, over 100,000 of these businesses closed and never reopened. This resulted in a net job loss of over 1.7 million fewer small business jobs.
Small businesses have historically created more new jobs than large ones. Growing market chaos, violence in urban areas, and rapidly increasing inflations have continued to stifle business recovery, and open borders and minimum wage increases are likely to reduce small business employment even further. Automation is eliminating jobs previously performed by humans in small businesses.
The Banking and Finance segment has always been biased toward favoring larger businesses. Bias against small businesses is most robust if the business is minority-owned or in troubled urban markets. Banks make it substantially easier for larger firms to receive loans and capture investment capital without putting the company's officers at personal risk for corporate financial losses, which small businesses cannot do. Many small business ventures fail due to personal financial bankruptcies.
Quality of Work Force
The government is working to eliminate jobs for unskilled workers and workers with limited skills, preparing students more poorly in high school and raising minimum wages to levels where small businesses can't afford to pay them. At the same time, the government is flooding the U.S. market with uncontrolled, uneducated individuals who do not speak English and are competing for the lowest-income jobs or are trafficked or slave workers for illegal cartels. The intent seems to be class warfare and chaos in America, with escalating violence due to a lack of law enforcement for those illegally within the USA.
Summary
