“Once seen as the ‘decoupled’ vanguards of global financial change, emerging economies suddenly seem as vulnerable as ever to developments in the US. Brazil, which saw its credit rating downgraded to junk last week, is only the latest Brics economy to crumble in the face of a strong dollar, a global trade slowdown and the prospect of higher US interest rates. Russia is already in recession; many economists believe China is heading towards a ‘hard landing’; and South Africa, which managed to append itself to the emerging-markets club in 2010, is on the brink of recession.”
So many people keep preaching that America is going to fall and lose it’s status as the main world power. And that is because they do not see the truth that AMERICA IS THE EARTH BEAST OF REVELATION 13. And what does the ‘earth beast’ do according to Bible prophecy? It has CONTROL OVER THE WORLD, in order to cause ‘all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads.’ (Rev.13:16)
The dollar is strong, stronger indeed than it has been for years. Fears that the world’s leading currency could implode are now over. Good news, right? Not quite. Paradoxically, it is precisely this overly strong dollar that could threaten the world financial system: A growing number of experts worry that a severe debt crisis in the emerging economies may be brewing.
If the value of the dollar continues to rise, it could lead to a wave of bankruptcies in Russia, Brazil and other emerging economies, which would have a serious impact on Germany and other countries that rely on exports. Read More