Over the past week the Euro has been decimated with the problems in Greece and the fear that contagion will hurt European banks and other European countries. A growing number of economic and financial experts foresee the disintegration of the Euro or a major scale back in the number of countries that will utilize the Euro. In this blog entry I’ll address whether it is biblically-possible for the Euro to remain a currency during the end times.
Ezekiel Chapter 7 and Zephaniah Chapter 1 mention that people will carry gold and silver with them while they are out and about during the End Times. In fact, Zephaniah 1:18 indicate that people will wrongly consider gold and silver as items that will bring them safety in times of trouble.
- Eze 7:19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
- Zep 1:18 Neither their silver nor their gold shall be able to deliver them in the day of the LORD'S wrath; but the whole land shall be devoured by the fire of his jealousy: for he shall make even a speedy riddance of all them that dwell in the land.
The role of gold and silver as items people will carry with them indicates that gold and silver will be accepted as a monetary unit of exchange during the End Times.
In contrast, I've had difficulty finding a prophetic passage that suggests that people will carry paper money with them during the End Times. Although you could argue that Revelation 6:6 suggests that people will utilize a monetary unit of exchange beyond gold and silver, it is difficult to use this verse to support the notion that paper money will be around during the end times. Revelation 6:6 speaks of how items will be priced in terms of a metallic coin-not in terms of paper money.
- Rev 6:6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.
The apparent absence of paper money in the End Times prophecy is an ominous sign about the prospects of paper money in the future. I suspect the absence of paper money in End Times prophecy is an indication that paper money will not be around during that period of time because the Bible would have made it clear that paper money would be used if it will be used.
One reason that paper money may not be around is that it may be destroyed through a process called hyperinflation during the time period leading up to the End Times. Hyperinflation occurs when too much money and credit is created at a time when the public losses confidence in paper money.
- The prospect of global hyperinflation is quite high in the future partly because so many countries must simultaneously tackle their massive debt problems while facing difficult economic and financial times (there are other reasons, but it’d take a long time to explain). Printing money is the favorite stimulus tool of governments because leaders do not have to make difficult decisions like the Greek government just made in face of angry mobs, so with the major fiscal, financial, and economic challenges ahead, money printing will be in vogue worldwide. Unfortunately, countries can only get away with money printing for a short period of time before the people realize what's going on and lose confidence in paper money. When the people lose confidence in paper money hyperinflation pretty much becomes difficult to stop from morphing into something that renders paper money worthless and into something that destroys society.
The conclusion that hyperinflation is a strong possibility to emerge as a result of difficult times echoes a prediction the Ascended Master (a spiritual being described in Ephesians 6:12 as the “spiritual wickedness in high places”) that advises Benjamin Creme (the official spokesmen of Maitreya, the leader of the Ascended Masters) made a couple of decades ago.
- According to Creme’s Master, a collapse in global stock markets will be followed by a period where the value of money will be destroyed worldwide: “very soon, there is going to be a complete transformation in the world’s economic systems due to the devaluation of money after the coming world stock market crash”.[1]
The prospects for paper money does not look good as the Bible indicates that paper money will not be used during the End Times, the current trajectory of world events suggests that global hyperinflation is a strong possibility, and an individual associated with the forces of evil suggests global hyperinflation is coming. Thus, it is unlikely that the Euro will survive along with the U.S. Dollar, the Japanese Yen, the Chinese Renminbi, the Canadian Dollar, the Australian Dollar, and any other paper currency you can think of. While the end of paper money is unlikely going to occur today, tomorrow, or even next year, it’s going to happen someday.
Reference
[1] Pitchon, Patricia. “Drugs: A World Problem-Interview with the Master-through Benjamin Creme”. 15. Oct. 2005. Last Accessed. 6. Jul. 2009. http://www.share-international.org/archives/Master_--/iv_drug-problem.htm
