IMF set to expand its reach
World financial leaders are meeting in Washington this weekend to begin working out the details of a new, more powerful International Monetary Fund. President Obama fully backs the plan.
Inside a cavernous assembly hall in downtown Washington, dignitaries gather twice a year for routine meetings of the International Monetary Fund. Before long, though, the room could take center stage in the IMF’s transformation into a veritable United Nations for the global economy.
Surrounded by blond wood paneling and a digital screen the size of a cinema’s, central bankers and finance ministers would meet to convene a financial security council of sorts. Serving almost as ambassadors to the IMF, they would debate ways to put out the world’s economic fires and stifle reckless policies before they ignite new ones.
Bowing to a new economic world order, the IMF would grant fresh powers to the likes of China, India and Brazil. It would have vastly expanded authority to act as a global banker to governments rich and poor. And with more flexibility to effectively print its own money, it would have the ability to inject liquidity into global markets in a way once limited to major central banks, including the U.S. Federal Reserve.
That image of a radically transformed IMF — whose role in the global economy had turned largely advisory in recent years — is now coming together through internal IMF documents, interviews and think-tank reports. Finance ministers from major nations will begin grappling with the formidable details of the IMF’s makeover this weekend when they converge in Washington for the fund’s biannual assembly.
The changes, broadly outlined by President Obama and other leaders of the Group of 20 nations in London earlier this month, could take months, even years to take shape. But the IMF is all but certain to take a central role in managing the world economy. As a result, Washington is poised to become the power center for global financial policy, much as the United Nations has long made New York the world center for diplomacy.
The IMF’s mission is expanding so broadly that its managing director, Dominique Strauss-Kahn, said in an interview that the organization — which underwent deep cuts last year before the financial crisis swept the globe — may boost staffing in coming months, potentially creating dozens of high-paying jobs in the District.
“The IMF is changing, and with it, there will be a sea change in the way the world economy is run,” said C. Fred Bergsten, director of the Peterson Institute for International Economics. “Their role will dramatically shift. You’re talking about monitoring fiscal stimulus, moving toward tighter regulations for financial institutions. You’re talking about global economic management in a way we have never seen.”
The “power center for global financial policy” will be the EU, not Washington.
The Antichrist will arise out of the Revived Roman Empire, which is the European Union (Daniel 7:20, 24). How do we know the EU is the Revived Roman Empire? In 1948, three events happened that keyed the start to the final countdown before Christ returns: Israel became a nation (Ezekiel 36:24, 37:11-12; Amos 9:15; Matthew 24:31-32); the World Council of Churches was officially chartered, becoming the future home of the False Prophet (Mark 13:22, Revelation 13:13-14); and the Benelux Customs Union was formed.
Comprised of Belgium, the Netherlands, and Luxembourg, Benelux was the foundation of what today has become the European Union. When Benelux expanded in 1957, bringing in Germany, France, and Italy, it was ratified by a document titled The Treaty of Rome. That treaty is still used by the European Union today, and the EU governs itself by what they call the Laws of Rome, requiring all members to submit to “Roman law.”
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