NINNIES, KNOW-NOTHINGS
AND THE "FALLING DOLLAR"

INTRODUCTION

There is a great deal of talk today by "ninnies" and "know-nothings" that the falling dollar on the world's monetary exchanges denotes the collapse of the American Imperial System and the rise of Europe. Much is being made of the fact that as the dollar declines, the world's central banks will trade in their dollars for euros, displacing the dollar as the world's central currency.

Certainly, this is what some Arab and Islamic politicians are hoping for. This is what Hugo Chavez of Venezuela wants. And this is what a growing number of Europeans, who for the past sixty years have been chafing under the yoke of America's New World Order System, desire as well.

Indeed, as famed economist, Dr. Michael Hudson, the author of Super Imperialism: The Origin and Fundamentals of U.S. World Dominance, says -

"If this were the 1960s, central banks throughout the world would be cashing in their dollar inflows for gold reducing the dollar's preeminence to the status of just one more currency on the world's exchanges, and knocking the U.S. off its perch as the world's single super-power."

But this is not the 1960s; and, as Hudson explains -

"Since the United States went off gold in 1971, a built-in market for U.S. Treasury bills has emerged as the only practical alternative to gold."

NOTHING SEEMS ABLE TO SHAKE
THE DOLLAR'S PREEMINENCE

The fact is, nothing seems able to shake the dollar's preeminence - not even a thirty-five percent devaluation of the dollar against the euro. As Hudson remarks, the central bank market for U.S. Treasury securities seems to be infinite, and - as a result -

"The spate of anti-Americanism by foreign central banks, has a silver lining for the U.S. economy."

And why is that? - because if OPEC-held dollars (OPEC - meaning the Organization of Petroleum-Exporting Countries) or OPEC-held U.S. Treasury bonds are exchanged for securities denominated in euros, these dollar securities simply will be passed on to the central banks of Europe.

THIS WOULD CAUSE A MASSIVE PANIC IN EUROPE BECAUSE IT WOULD OBLIGE EUROPEAN BANKS TO CHOOSE BETWEEN (1) "LENDING" THEIR DOLLAR INFLOWS BACK TO THE UNITED STATES BY BUYING U.S. TREASURY SECURITIES (AND FINANCING AMERICA'S BUDGET DEFICIT IN THE PROCESS), OR (2) SEEING THEIR CURRENCIES APPRECIATE EVEN MORE AGAINST THE DOLLAR, MAKING IT IMPOSSIBLE FOR EUROPEAN INDUSTRY TO COMPETE WITH THE U.S. IN THE WORLD MARKET PLACE - after all, a thirty-five percent devaluation of the dollar on the world's monetary exchanges in essence makes U.S. products thirty-five percent cheaper on the world market, all other things being equal.

As Hudson explains,

"If countries do … begin to diversify their central bank reserves, the move into the euro will aggravate Europe’s dollar dilemma, PUSHING EUROPE TO THE BRINK OF AN [ECONOMIC] AND POLITICAL BREAKING POINT."

A MASSIVE GAME OF "CHICKEN"

In other words, if Europe refuses to "buy-up" the dollars that OPEC and other nations "sell-off" in exchange for euros, the products they sell on the world market will suffer an even greater rate-hike than they are already suffering today against similar products produced in the United States, beggaring European industry and causing MASSIVE unemployment in the nations of the E.C. (the European Community). AND IT ISN'T AS IF THE U.S. IS NOT AWARE OF ALL THIS, WHICH IS WHY THE "FALLING DOLLAR" IS TREATED WITH SO MUCH "BENIGN NEGLECT" BY THE U.S. TREASURY.

IN ESSENCE, THE UNITED STATES IS PLAYING A GAME OF "CHICKEN" WITH THE EUROPEANS: Buy up the dollars America's enemies are threatening to exchange for euros, OR suffer MASSIVE unemployment and the concomitant political turmoil that would result in the nations of the E.C.

Indeed, European exporters are already complaining that the game of "chicken" the U.S. is playing with them is threatening to price their products out of world markets. To prevent this from occurring, European countries receiving central bank inflows from OPEC already are coming under pressure to hold down the euro’s exchange rate by using these dollar inflows to buy yet more U.S. Treasury bills. IT IS PRECISELY FOR THIS REASON THAT EUROPE HAS BEEN PLAYING "NICE" WITH THE U.S. IN RECENT MONTHS, WITH BOTH THE FRENCH PRESIDENT AND THE GERMAN CHANCELLOR TRUDGING TO WASHINGTON TO SCRAPE AND BOW DOWN TO BUSH, AND IN ESSENCE PLEDGE THEIR CONTINUED SUPPORT AS "PLEBES" TO THEIR AMERICAN MASTER, hoping against hope that the U.S. will relent in its game of "chicken."

HOW THINGS HAVE CHANGED

All this indicates how enormously things have changed since the U.S. forced the world off the gold standard in 1971, and compelled the nations of the earth to accept dollars as the world's "reserve currency."

Prior to 1971, an anti-dollar shift by OPEC or other countries would have been quite different: Under the gold-exchange standard, the U.S. Treasury would have lost gold to Europe’s central banks. Using the precious metal as a thermometer of international financial power, America’s loss would have been Europe’s gain, without forcing up European exchange rates as surplus dollars were spent on importing gold.

Today, 36 years later, the effect of a shift in international reserves from dollars to euros is quite different. It is, as we just indicated, forcing up the exchange rate of the euro, and in the process imposing an economic cost that European industry is UNABLE to absorb as the devalued dollar in effect forces up the price of European exports to uncompetitive levels, through no fault of Europe’s own domestic policies.

THE SWISS SYNDROME

Hudson writes:

"Those who expect America’s present dollar glut to represent Europe’s gain should ask the Swiss, whose currency has been a prime vehicle for capital flight. The Swiss Syndrome may be defined as a condition in which an autonomous capital inflow forces up a country’s exchange rate to a point that threatens the competitiveness of its exports.

"In the late 1960s this became the almost chronic condition of Switzerland’s franc as a result of that country’s role as an offshore tax and capital-flight haven. The franc’s appreciation caused massive problems for Swiss pharmaceutical companies and other exporters ... Europe is [now] threatened with a similar effect as a result of other countries moving into euros.

"Some amelioration would occur on capital account as a falling value of the dollar relative to the euro would improve the capital balances of Latin American and Asian debtor countries. Their debts are serviced in dollars, whose relative value would fall. The effect on their trade account would depend on their ability to receive more for exports to Europe, relative to paying more for their imports from that continent, and on the relative weighting of exports and imports as between European and North American markets and suppliers.

"But creditor nations would experience the reverse balance-sheet phenomenon in proportion to the extent to which their financial claims are dollarized. Europe, China and Japan have been the major regions building up dollar reserves and dollar loans generally. [Some in China and other creditor nations in Asia] are beginning to ask themselves just what practical use these dollar claims are, and how much value they will retain as their magnitude exceeds the U.S. ability or WILLINGNESS to pay in a meaningful way. This line of thought has prompted them to discuss ways in which the world debt and payments system may be made more symmetrical and hence fairer."

The problem is, as Hudson explains -

"… THERE IS NO SUCH SYSTEM PRESENTLY ON THE HORIZON."

And there is no chance that there ever will be. The result is, as Hudson explains -

"The United States is able to run trade and payments deficits amounting to hundreds of billions of dollars annually with no protest from the rest of the world."

AND THERE IS SOMETHING MORE

And there is something more! - THE EUROPEANS SIMPLY DO NOT HAVE THE MILITARY MUSCLE TO "BACK-UP" THE EURO AS A "RESERVE CURRENCY" SHOULD THE EURO EVER REALLY THREATEN TO DISPLACE THE DOLLAR AS THE WORLD'S CENTRAL CURRENCY.

It takes a lot of muscle to "back-up" a "reserve currency" and enforce the "rules of the economic game" on the world at large; after all, the "rules of the game" that Europe would have to impose on the world in order to enforce compliance to the regulations of a "euro-zone" would be every bit as onerous and oppressive as the rules presently applied by the U.S. insofar as the American New World Order System is concerned.

The fact is, however, EUROPE SIMPLY DOES NOT HAVE THE MILITARY BRAWN TO DO SO, and it possesses no chance of ever building a truly viable military establishment since Europe, unlike the U.S. - which finances it military might through its world-wide system of tribute - would have to finance its military build-up by transferring money from its massive social-services sector to finance its arms build-up. But this is something that would drive European voters out into the streets in protest, which is exactly what happens in Britain, Germany and France when major social spending is threatened. To average Europeans, their "right" to their governments' massive social spending is an INHERENT "right;" it is one that was built into their economic systems after World War II in order to prevent a communist take-over of the continent in the years following that war. There's no going back now.

EUROPE IS DEPENDENT UPON AMERICAN MILITARY
MIGHT FOR ACCESS TO THE WORLD AT LARGE

As a result, Europe's access to the markets and resources of Africa, Asia and Latin America exists only because its "right of entry" to these markets and resources is made possible by American military might - and that only as a "JUNIOR PARTNER" in the American Imperial System, OR does one really think that the nations of Africa, Asia and Latin America would long suffer the rapacious trade policies forced on them by European multi-national corporations without being compelled to do so under the "threat of a gun?"

Given this reality, does one really think that the "pygmy" military establishments that the Germans, and the French, and the Italians, and the Dutch, and the Danes, or even the British presently possess have the muscle (together or separately) to send a naval battle group and the thousands and thousands of soldiers that would necessarily be part of such a force to any of these continents to enforce their will? Where, after all, are their super-carrier battle groups? THEY HAVE NONE! - unless one is prepared to "count" the few miniature "jump-jet" carriers the British and the French have - non-nuclear carriers only one-quarter the size of America's 13 super-carriers (with 12 more in reserve). [Please see "Part 2: U.S. Military Supremacy" in Chapter XII of the NEW ANTIPAS PAPERS, "The Beast of Revelation 17."]

NO ESCAPE NOW

The truth is, there is simply no way Europe or the world at large can escape either politically or economically from the grip of the American New World Order System, a system that - as we indicated in the NEW ANTIPAS PAPERS - is analogous to a MAFIA PROTECTION RACKET where shop keepers and other business people are forced to pay "protection" to the local Mafia Don in order to do business (which is precisely what these countries are doing when they "buy-up" U.S. Treasury notes) - and God help those who don't pay!

The local Mafia Don (in this case, the U.S.) would consider that an "UNFRIENDLY ACT" - and, again, who would want to get on the wrong side of a Mafia Don?

AN UNFRIENDLY ACT

NO! - nobody wants to get on the wrong side of the United States insofar as its PROTECTION RACKET is concerned. After all, America is the CAPO DI TUTI (the "Don of all Dons") - and one has only to view the wreckage of the old Soviet Union, Cuba, Iraq, North Korea, etc. to see what happens to countries that the U.S. views as "unfriendly."

The fact that China has not suffered the same fate as the old Soviet Union is because China has now become a compliant member of America's New World Order System - all the rhetoric of political nincompoops to the contrary notwithstanding. Their dollar surpluses are regularly "loaned" back to the U.S. as TRIBUTE for entry into "the game" - a "game" that greatly benefits a minority of the Chinese population, and beggars the rest as slave-laborers" in the factories of America's multi-national corporations in China making toys, electronic goods and other "goodies" for American consumers.

The Chinese complain, of course, just as the Japanese did before them; but they have no real recourse. The wealth that the Chinese elites have been piling up would vanish overnight should China ever rebel against paying its "tribute" as the price into the American system.

IT'S THE GREATEST "RIP-OFF"
IN THE HISTORY OF THE WORLD

As famed economist Herbert Kahn says of this PROTECTION RACKET, it's "the greatest rip-off the world has ever seen" - and while many in the outside world might realize what's happening, what does one do when confronted by a thief who has a gun pointed at his head? One hands over the cash and keeps his mouth shut! And besides, as we have already indicted, the elites in these countries are greatly benefiting from this system - a fact that goes a long way in keeping their mouths shut.

And anyway, What choice do they really have? - in the end, as the elites in China and the rest of the world know intuitively, "POWER FLOWS OUT OF THE BARREL OF A GUN," as Mao himself once remarked, and America has the "biggest and badest" guns in the world. IT'S THIS FACT THAT MAKES AMERICA'S PROTECTION RACKET WORK. [Please see "Part 3: U.S. Economic Supremacy" of Chapter XII in the NEW ANTIPAS PAPERS, "The Beast of Revelation 17."]

THERE IS NO END TO AMERICA'S
ECONOMIC PREEMINENCE

And one should be clear here - biblically speaking, America's economic preeminence will continue all the way through the "Tribulation Period." Indeed, it will not end until America is destroyed by a "stone cut out without hands" - a stone "which will smite … [America], and brake it to pieces;" that is to say, America's economic and military preeminence will NOT end until just prior to the coming of the Lord in Glory. (Daniel 2:31-45).

So much then for those "ninnies" and "know-nothings" that are looking for a resurgence of Europe over and against the American New World Order System.

All this is confirmed by Revelation 11:

"Then I was given a reed like a measuring rod. And the angel stood, saying, Rise and measure the temple of God, the altar, and those who worship there.

"But leave out the court which is outside the temple, and do not measure it, for it has been given to the Gentiles. And they will tread the holy city under foot for forty-two months. [3-1/2years]

"And I will give power to my TWO WITNESSES, and they will prophesy one thousand two hundred and sixty days [3-1/2 years], clothed in sackcloth.

"These are the TWO OLIVE TREES and the TWO LAMPSTANDS standing before the God of the earth.

"And if anyone wants to harm them, fire proceeds from their mouth and devours their enemies. And if anyone wants to harm them, he must be killed in this manner.

"These have power to shut heaven, so that no rain falls in the days of their prophecy; and they have power over waters to turn them to blood, and to strike the earth with all plagues, as often as they desire'.

"Now when they finish their testimony, the beast that ascends out of the bottomless pit will make war against them, overcome them, and kill them.

"And their dead bodies will lie in the street of the great city which spiritually is called Sodom and Egypt, where also our Lord was crucified.

"Then those from the peoples, tribes, tongues, and nations will see their dead bodies three and a half days, and not allow their dead bodies to be put into graves.

"And those who dwell on the earth will rejoice over them, make merry, and send gifts to one another, because these two prophets tormented those who dwell on the earth.

"Now after the three and a half days the breath of life from God entered them, and they stood on their feet, and great fear fell on those who saw them.

"And they heard a loud voice from heaven saying to them, 'Come up here'. And they ascended to heaven in a cloud, and their enemies saw them. (Revelation 11:1-12)

Now, it's not our purpose here to explain everything that is happening in this portion of Scripture. All that is necessary now is for you to grasp the fact that the "time-table" that is "in play" here is that "3 1/2 days" in this passage of Scripture represents "3 1/2 years;" The "Two Witnesses" are slain after 3 1/2 years of testimony in that "Great City" (i.e., Babylon), after which their "dead bodies" will lie in the streets of that "Great City" for another 3 1/2 years, at which time, the resurrection and the rapture will occur. [For those who wish an understanding of what's being described here, we urge you to see "Part 4: The Two Witnesses" of Chapter VIII, "Tribulation & Judgment" in the NEW ANTIPAS PAPERS; indeed, one is urged to read all of Chapter VIII.]

VERY OBVIOUSLY, THEN …

Very obviously, then, that "Great City" [which is Babylon, i.e., the United States] will not be destroyed or suffer a diminution of its power until the very end of the Tribulation Period, for how then would it be possible for the "Two Witnesses" to "lie in the streets" of that "Great City" if that city is destroyed? - all of which gives meaning to Babylon's (America's) boast in Revelation 18:

"I sit a queen, and am no widow, and shall see no sorrow." (Revelation 18:7)

A boast that the very next verse in this passage of Scripture says will ultimately (at the time of the end) prove to be an empty one:

"Therefore shall her plagues come IN ONE DAY, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her." (Revelation 18:8)

A DESCRIPTION OF THE AMERICAN IMPERIAL SYSTEM -
ONE THAT COULD NOT POSSIBLY BE "HAPPEN-CHANCE"

Finally, the fact that we are here talking about the American New World Order System is substantiated by Revelation 18:1-21. As you read these verses which describe the ultimate demise of "Babylon the Great" - i.e., the American New World Order System - NOTE CAREFULLY HOW THE SCRIPTURES DESCRIBE THAT SYSTEM AND THE LAMENT THAT GOES UP BY ALL THOSE WHO HAVE BEEN BENEFITING FROM THAT SYSTEM - specifically, "The Merchants of the earth:"

"And after these things I saw another angel come down from heaven, having great power; and the earth was lightened with his glory.

"And he cried mightily with a strong voice, saying, BABYLON THE GREAT IS FALLEN, IS FALLEN, and is become the habitation of devils, and the hold of every foul spirit, and a cage of every unclean and hateful bird.

"For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies.

"And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues.

"For her sins have reached unto heaven, and God hath remembered her iniquities.

"Reward her even as she rewarded you, and double unto her double according to her works: in the cup which she hath filled fill to her double.

"How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow.

"Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her.

"AND THE KINGS OF THE EARTH WHO HAVE COMMITTED FORNICATION AND LIVED DELICIOUSLY WITH HER, SHALL BEWAIL HER, AND LAMENT FOR HER, WHEN THEY SHALL SEE THE SMOKE OF HER BURNING,

"STANDING AFAR OFF FOR THE FEAR OF HER TORMENT, SAYING, ALAS, ALAS, THAT GREAT CITY BABYLON, THAT MIGHTY CITY! FOR IN ONE HOUR IS THY JUDGMENT.

"AND THE MERCHANTS OF THE EARTH SHALL WEEP AND MOURN OVER HER; FOR NO MAN BUYETH THEIR MERCHANDISE ANY MORE:

"The merchandise of gold, and silver, and precious stones, and of pearls, and fine linen, and purple, and silk, and scarlet, and all thyine wood, and all manner vessels of ivory, and all manner vessels of most precious wood, and of brass, and iron, and marble,

"And cinnamon, and odours, and ointments, and frankincense, and wine, and oil, and fine flour, and wheat, and beasts, and sheep, and horses, and chariots, and slaves, and souls of men.

"And the fruits that thy soul lusted after are departed from thee, and all things which were dainty and goodly are departed from thee, and thou shalt find them no more at all.

"THE MERCHANTS OF THESE THINGS, WHICH WERE MADE RICH BY HER, SHALL STAND AFAR OFF FOR THE FEAR OF HER TORMENT, WEEPING AND WAILING,

"And saying, Alas, alas, that great city, that was clothed in fine linen, and purple, and scarlet, and decked with gold, and precious stones, and pearls!

"For in one hour so great riches is come to nought. AND EVERY SHIPMASTER, AND ALL THE COMPANY IN SHIPS, AND SAILORS, AND AS MANY AS TRADE BY THE SEA, STOOD AFAR OFF,

"And cried when they saw the smoke of her burning, saying, What city is like unto this great city!

"And they cast dust on their heads, and cried, weeping and wailing, saying, ALAS, ALAS, THAT GREAT CITY, WHEREIN WERE MADE RICH ALL THAT HAD SHIPS IN THE SEA BY REASON OF HER COSTLINESS! FOR IN ONE HOUR IS SHE MADE DESOLATE.

"Rejoice over her, thou heaven, and ye holy apostles and prophets; for God hath avenged you on her.

"And a mighty angel took up a stone like a great millstone, and cast it into the sea, saying, Thus with violence shall that great city Babylon be thrown down, and shall be found no more at all." (Revelation 18:1-21)

NOTE: One would do well to take note of what the last verse here - i.e., Revelation 18:21 - says: "And a mighty angel took up a stone like a GREAT MILLSTONE, and cast it into the sea, saying, Thus with violence shall that great city Babylon be thrown down, and shall be found no more at all." (Revelation 18:21). This substantiates Daniel prediction of Babylon's destruction by "a stone cut out without hands" (see Daniel 2:31-45); in other words, Babylon will be destroyed by God Himself, working alone without the aid of any surrogates - FOR SUCH IS THE EXTENT OF GOD'S BURNING WRATH AGAINST THE PEOPLE AND NATION OF BABYLON.

NOW, COME ON!

Now, come on! What economic system is the Bible describing here? - a system that "buys-up" the goods of the earth, and is the "market place" for the whole world, running up huge trade deficits in the process. Come on, now! - be honest here! What nation alone among all the other nations of the world could "run-up" the kind of massive trade deficits with the type of impunity described in Revelation 18? - and so much so that the "merchants of the earth" lament, " FOR NO MAN BUYETH OUR MERCHANDISE ANY MORE."

There is only one nation on earth that can be described in this fashion: THE UNITED STATES. The American New World Order System makes rich "the merchants of the earth!" - but not necessarily "the people" of these nations; only the elites who manage the economies of those countries that have been reduced to subservience in that system. Is that not the case with China? With the nations of Africa, Latin America, and Asia? - all of which possess an extravagantly wealth elite class, and masses of poor people who derive no benefit at all from the American Imperial System.

And more than that, What nation is the ONLY nation on earth which must of necessity trade with the rest of the world by sea? Europe doesn't do that; it manages its trade in oil and gas - the premier commodities in today's world trade - via pipelines from Eurasia and the Middle East.

So, come on now! - be honest! What nation is the Bible talking about here? New Zealand? Australia? Tahiti? Madagascar? Not even Japan - an island nation whose economy is larger than that of the EC's, but is less than half that of America's - can be said to qualify here. And beside all that, Japan is not the "market place" of the world. It does everything it can to keep its imports low in comparison to its exports. It doesn't want European, or American, or Chinese imports flooding its home market. And, of course, the same thing could be said of the EC.

Very obviously, then, only America can answer to the description given in Revelation 18.

So much, then, for the nincompoops, ninnies, and know-nothings that look for a European "resurgence" at America's expense - AND ONE SHOULD NOT BE DISTRACTED FROM THIS FACT BY THE "UPS AND DOWNS" OF THE WORLD'S EXCHANGE MARKETS, and the rise and fall of the euro over and against the dollar.

GET OUT WHILE YOU CAN

Brothers and sisters, if this is America's situation, one would be well advised to get away from America as quickly and as far as one can. One does not want to face the kind of red-hot fury the Lord has stored up against America - the kind of fury which He ALONE can dispose of. Believe me when I tell you that this kind of fury is not something one should be cavalier about. The Bible says:

"It is a fearful [awful, horrible, appalling] thing to fall into the hands of the living God." (Hebrews 10:31)

And the Bible goes on to say:

"Be not afraid of them that kill the body, and after that have no more that they can do.

"But I will forewarn you whom ye shall fear: FEAR HIM (i.e., GOD), WHICH AFTER HE HATH KILLED HATH POWER TO CAST INTO HELL; YEA, I SAY UNTO YOU, FEAR HIM. (Luke 12:4-5)

It is, thus, not without reason that the Lord warns His followers to -

"COME OUT OF HER [i.e., Babylon, that is to say, the United States], my people, that ye be not partakers of her sins, and that ye receive not of her plagues." (Revelation 18:4)

One would be well advised to ponder the awful meaning behind this command: No where else in human history has God ever ordered His people out of a certain country; not even in the case of Nazi Germany. But here He does so. YOU SHOULD THINK LONG AND HARD ABOUT THIS.

God bless you all,

S.R. Shearer
Antipas Ministries

P.S. IF YOU HAVEN'T ALREADY, ORDER YOUR FREE DVD ON THE AMERICAN NEW WORLD ORDER SYSTEM NOW.

PRESS HERE!

Finally, Remember the Word of God:

"IF WE HAVE SOWN UNTO YOU SPIRITUAL THINGS, IS IT A GREAT THING IF WE SHALL REAP YOUR CARNAL (MATERIAL) THINGS?" (1 Cor. 9:11)