In the modern world, countries are generally categorized as “Developed, Developing and Poor” or “1st World, 2nd World and 3rd World” etc., according to their ‘Financial Stability’.
THAT ‘Financial Stability’ of a country is currently determined by what is called “Gross Domestic Product” or simply GDP that replaced “Gross National Product” or GNP.
GDP is defined as the “Total Market Value of ‘Goods and Services’ exchanged in a country’s economy within a specified time period like one year, calculated in US $,”.
The Formula of Calculation is:-
GDP = Consumption (C) + Investment (I) + Government Spending (G or GS) + Net Exports (NX).
‘C’ means Consumption or Expenditures incurred by Households and Non-Profit making Organizations”; ‘I’ means “Investments made by various Business Establishments; ‘NX’ means “The Balance which remains once the Cost of the ‘Goods imported’ is deducted from the Value of Goods Exported ” and ‘G or GS’ means the Expenditure that the Government had to incur in running the country, within that time period.
‘Determining’ of the above is done by various National and International Bodies, the main one being “The Organization for Economic Co-operation and Development” (OECD). They are the ones who also decide, “Which currencies are Internationally Recognized and Accepted”.
What is stated above very briefly is the WAY various ‘Determinations’ are made and ‘categorizing’ is done IN Projecting and Positioning the countries of the world, according to their ECONOMIES.
Consequently, the country that HAS the MOST amount of ‘Surplus Money’ might NOT be considered the “No 1 ECONOMY” in the world.
It is clearly borne out by the FACT that, though China is reputed to have the “MOST amount of ‘Hard’ CASH”, United States of America CONTINUES to be considered the No 1 ECONOMY of the WORLD, as its GDP is US $19.485 Trillion compared to that of China’s 12.238 Trillion US $.
America’s growth in the field of International Finance hit ‘High Gear’, after the Second World War.
Economies of European Countries were in very bad shape then, including that of Great Britain which was the dominant one until the war. Out of the ‘Allies’, Russia was the country that experienced the worst destruction during the war. Adherence to a ‘Closed Economy’ due to Communist Ideology after the war did not afford much scope for USSR’s economy to develop. China that was ‘backward’ at the time, also became a communist country under Mao Zedong and hence became a ‘Closed Economy’.
Local Industries in the United States developed quite significantly after WW2, the main one being the Automobile Industry. Those Companies that were producing Military Equipment and Weapons during the war switched back to Auto Industry and became the largest supplier of motor vehicles in the world, dominated by the ‘Big Three’ General Motors, Ford and Chrysler. That continued for decades, until overtaken by European and especially Japanese markets. All the same THAT was ONE of the major contributory factors towards US becoming the No 1 Economy in the world.
YET there have been other, ‘NOT so obvious’ factors too.
The Bretton Woods Conference was held in 1944, resulting in the creation of ‘The Word Bank’ and the ‘International Monetary Fund’, the “Founding Fathers” being Harry Dexter White, a US Treasury Official and John Maynard Keynes the famous Economist. Both institutions were established in 1945 and have their main buildings IN Washington D C. They were ‘created’ to provide ‘Loans and Grants’ for Poor Countries, in order to ‘Help them Develop’.
Initially the available FUNDS were low, as most of the expected donors were still recovering from the effects of WW 2. As any bank would, they had their ‘Terms and Conditions’, in granting ANY assistance. It was borne out the ‘WAY’ the very first loan was given. France became the first country to receive a loan from the World Bank and was chosen by the then President of it John McCloy, over Poland and Chile, who also had applied for loans.
United States was the main donor to World Bank and consequently US State Department insisted that the French Government get rid of its Communist Coalition Partners. Within hours of the French Government doing so, the loan was released.
The track record of both the World Bank and IMF is that the countries who receive loans continue to be in debt to them and hence being under obligation to obey their demands. Before the ‘Covid pandemic’ arose, Greece was in ‘World News’, facing that kind of situation.
ALL the Presidents of WB have been Americans, the First being Eugene Meyer.
From 1995 – 2005 Australian born James Wolfensohn and from 2012 – 2019 South Korean Jim Yong Kim held that post. But BOTH of them too were “Naturalized U S Citizens”.
When Jim Yong Kim stepped down on 1st February 2019, Kristalina Georgieva of Bulgaria became the ACTING President, until the current one David Malpass took over on the 9th of April of the same year. Thus she became the ONLY ‘NON American’ to hold that post, for just over 2 months.
IMF which started with 29 member countries in 1945 has now grown to include 190 countries. Its Managing Director has ALWAYS been a European and the First Deputy MD an American. In 2011 a request was made that the position of its MD be chosen ‘on merit’.
When Christine Lagarde of France who held the post from 2011 to 2019 stepped down, Dr. Kristalina Georgieva of Bulgaria who served as the Acting President of WB as stated above, was appointed to the post which she still holds. It of course could have been ‘on merit’, as she is quite well qualified.
As can be seen from the above, BOTH those institutions that are supposed to be ‘looking after’ the interests of the “poor or developing countries” are under American influence.
The next major ‘Contributory Factor’ for the U S occupying No 1 spot in world Economy is the “PETRODOLLAR”.
U S is the biggest producer of oil in the world, which is over 14 million barrels a day. That means around 20% of world PRODUCTION.
At present Saudi Arabia and Russia keep on exchanging the ‘second and third places’ as their production is around 11%.
MOST of the U S production is CONSUMED LOCALLY. Hence Saudi Arabia remains as the biggest EXPORTER of oil, generally followed by Russia, Iraq and U S, in that order.
In early 1970s, United States of America reached an agreement with Saudi Arabia to standardize the ‘Sale and purchase of OIL, BASED on the U S Dollar’. That meant ALL the countries in the world HAD TO, either SELL or PURCHASE OIL, in U S dollars.
Consequently, the ‘National Income’ of “Oil Producing Countries” became DEPENDANT on the ‘Value of the U S Dollar’.
The term ‘Petrodollar’ was coined by William R. Clark, who wrote a book under the same title, with regard to the ‘Motivation of U S Military Offensives’, in order to PRESERVE the U S Dollar, as the ‘Dominant Reserve Currency’ OF THE WORLD.
“ECONOMICS” in the simplest form could be defined as, “PROVISION of Goods and Services, the PRICING of which generally DEPENDS on Demand and Supply”.
The main Forum in which that takes place is ‘TRADING’.
Therefore TRADINGS in ‘Stock\Share Markets’ have a huge influence on the Economy of most countries, especially in the ‘Developed World’.
IF the ‘Stock Market’ is healthy, MORE Investors would take part and if ‘poor’ they would go elsewhere.
WHEN a continuous downward plunge of the ‘Stock Market’ takes place even for a short period, which is known as a ‘Crash’, the relevant country would go in to RECESSION.
Wall Street Crash of October 1929 is called the “Great Depression”.
On Monday the 19th of October 1987 occurred the worst ‘single day crash’ in U S Stock Market history upto that time , when it experienced a 20% plunge in the ‘S & P 500 and Dow Jones Industrial Average’.
THAT ‘Day’ came to be known as “Black Monday” and what were called “Circuit Breakers” were introduced to PREVENT a repetition. That is ‘Trading’ would be suspended for 15 minutes, if there is a 7% drop. If after resumption a 13% drop is observed, again there would be another 15 minute suspension. If it continues to a 20% drop, ‘trading’ would be CLOSED for the DAY.
The Standard and Poor’s 500 also called the S&P 500 TRACKS the ‘Performance’ of 500 large companies on the list of Stock Exchanges in the U S. The top 10 companies on its list range from Apple Inc. and Microsoft to J P Morgan and Johnson and Johnson.
Dow Jones (DJIA) also does practically the same, but only for 30 prominent companies in the U S.
The last major ‘Crash’ occurred on 24th February 2020, when S&P 500 index dropped 34%. It was attributed to ‘Worldwide Recession’ caused by the Covid 19 pandemic.
ALL those who are interested in the ‘Share market’ world over have their attention focused on the PERFORMANCE of the New York Stock Exchange (NYSE), situated on Wall Street and Broad Street, in the Financial District of Lower Manhattan, in NEW YORK. With the ringing of the ‘opening bell’ at 9 am ‘Trading’ begins and is closed at 4 pm with the ringing of the ‘closing bell’, which are ceremoniously done. Apart from the National Holidays and weekends, it operates for an average of 253 trading days per year. From January 2007, its trading is done through an Electronic Hybrid Market, except for a small group of “very high priced stock”. Its estimated Market Capitalization as of April 2021 was 26.2 Trillion U S Dollars.
ALL the Stock markets from London (Largest in Europe) to Tokyo (Third Largest in the world and Largest in Asia), have their ‘eyes’ on the performance of NYSE and could be the reason why NYSE is also called “The Big Board”.
NASDAQ is another Stock Market BASED IN NEW YORK that operates electronically and is Second to NYSE and its Market Capitalization was estimated to be 19.4 Trillion U S $, in April 2021.
WHAT all this information clearly establishes is that the ‘City of NEW YORK’ has the major share of IMPACT or influence over the WAY the ‘Finances of the world’ in general is handled.
Living in the present times in which SO MANY BIBLICAL PROPHECIES are obviously Being FULFILLED, it is quite reasonable that the question “Does the BIBLE state anything about this CITY?” to arise in the minds of many.
Need to bear in mind the following, in order to get to the ‘Proper Answer’ to that question.
MOST of the current NAMES of the Cities and Countries were NOT being USED at the time the BOOKS of the BIBLE were WRITTEN. Also the BIBLE uses “Symbols and Allegories” in its narrative. Therefore in order to IDENTIFY an Event, a City or Country etc., anyone NEEDS to STUDY the INFORMATION GIVEN or the DESCRIPTION available in the BIBLE.
The original Writers of the Bible did NOT divide their Narratives into Chapters and Verses. That was done by different individuals from A D 1227 onwards and the ‘Format’ currently used in the Christian World in general is the ‘ONE’ presented in A D 1555. It is quite USEFUL in the “Preparation and the Presentation” of Biblical Messages. YET the FACT that ‘Certain Contextual Themes’ have been overlooked by those who did the Divisions are quite apparent now. That also is quite relevant in finding out about, WHAT the Bible says regarding the ‘CITY under reference’, as explained below.
In the last Book of the Bible called “Revelations”, the 17th Chapter gives a ‘Picture’ of the “Religious System” that has been in existence since the ancient times and is called “Mystery Babylon” in Verse 5. That description of the ‘religious system’ ENDS at Verse 16 in that Chapter.
Verse 17 states, ‘HOW GOD would bring HIS Judgment upon her, BY the very people who profited through that religious system’.
Throughout the Bible it is clearly stated that “WHAT is Sown, WILL BE REAPED”. Therefore GOD BEING ABSOLUTELY “FAIR AND JUST” HAS TO ALLOW the CONSEQUENCES to come UPON WHATEVER one DOES whether GOOD or BAD.
Verse 18, which is the last Verse in that Chapter indicates that the ‘kings of the world’, meaning the political leaders like Presidents and Prime Ministers etc. are affiliated with ‘her’ enjoying her affluence. Further it shows that ‘Religion and Riches’ also are inter-connected.
Chapter 18:1-7 state the “Pronunciation of GOD’S Judgment” upon ALL of THAT. First 18:4 states GOD Calling “HIS People to Come OUT, before that judgment falls”.
Verse 8 states that ‘her judgment’ would Come in ONE Day and ‘WHAT’ is described from there onwards gives the picture of a ‘CITY that HAS HAD tremendous INFLUENCE upon the riches and merchandise of the WORLD’.
Verses 9 & 10 state how the various ‘Rulers of the World’ mourn her destruction. From Verse 11 to the first part of Verse 17 state how the ‘Merchants of the world’ mourn and from the latter half of Verse 17 to 19 state how ‘Transporters’ of various goods mourn her destruction. And ALL 3 Groups make the identical statement, “In ONE HOUR”.
Those Verses clearly indicate the BIBLE Stating that, “The CITY that has the greatest INFLUENCE upon the ‘riches of the world’ would be DESTROYED in a single DAY and within ONE HOUR”.
That could raise the question, “HOW could GOD ALLOW THAT?” in the minds of many too.
Many Scriptures like Deuteronomy 12:5 & 11 clearly SHOW that the “CITY OF JERUSALEM IS THE PLACE WHERE GOD HAS PLACED HIS NAME and also HAS CHOSEN as HIS DWELLING”. Two Temples were built there in different times to Honour and Praise HIM. YET, HE ALLOWED NOT ONLY FOR THAT CITY TO BE DESTROYED, BUT ALSO FOR THE TEMPLES TO BE BURNT”, because the People to whom HE HAD ENTRUSTED that CITY did NOT follow “HIS Instructions”.
GOD IS ABSOLUTELY FAIR AND JUST AND HENCE SHOWS NO PARTIALITY – Romans 2 : 6 – 11.
It is NOT within the scope of this article to detail some of the ‘methods’ that had been adopted for the country under reference to be the ‘No 1 Economy’ and also subsequently to maintain ‘that position’ over the years, so that particular CITY COULD exert FINANCIAL INFLUENCE.
There are various books written about them and suffice it to state here that some of those ‘methods’ have NOT been ETHICAL.
BUT there is also a GREATER REASON.
BEFORE GOD brought the People of Israel OUT of Egypt, HE Demonstrated through nine miracles HE Performed through Moses, that HE IS GREATER than the gods that Egyptians depended upon. The 10th was the JUDGMENT as GOD Told through Moses BEFORE those 9 plagues struck. “Israel is My First Born. So I say to you let him go to serve ME. But if you refuse to let him go, then I Will Strike your first born” – Exodus 4:22 & 23.
People in the present world follow many formats and philosophies and those that follow what are called ‘Faiths and Religions’ go to certain ‘Places of Worship’ in order to pay obeisance to their Deity.
But in REALITY, the ‘God’ of ANYONE is the ‘Person or thing that OCCUPIES the FIRST PLACE, in that person’s HEART AND MIND’.
It is quite OBVIOUS that the THING that occupies that ‘First Place’ in the lives of MOST is WEALTH, whether that be ‘cash or commodities’.
Matthew 6:24 records CHRIST Saying “NO one can SERVE TWO Masters….” Scriptures clearly show that the ‘Battle is between the Kingdom of Light and the kingdom of darkness’. Hence HE should have gone on to illustrate the ‘Two’ as “GOD and devil”, but HE did NOT. Neither did HE Say ‘GOD and yourself‘, as even though they profess ‘GOD is First in their lives’, even MOST Believers seem to give priority to their own selves, IF the Prayers are any indication, inspite of Luke 9:23, “DENY yourself..”
But HE Said “GOD and mammon”.
“People will DO anything for money” is a common phrase and the ‘life styles’ of MOST clearly indicate that they DEPEND on Money, thereby proving what CHRIST SAID 2000 years back IS TRUE.
Just as The ALMIGHTY CREATOR GOD Struck the deities of Egypt BEFORE the judgment fell on that land, it appears that THE SAME GOD would Strike the ‘deity’ of the present world, BEFORE HIS Judgment falls upon it, as the Book of Revelations goes onto describe.
Also Scriptures like Numbers 23:19 and Malachi 3:6 clearly state that GOD NEVER CHANGES. That is, “The WAY HE ACTED IN THE PAST IS THE WAY HE WOULD ACT ALWAYS”.
Everything in this world is PERISHING as can be clearly OBSERVED and also recorded in Psalms 102:26 & 27 and quoted in Hebrews 1:11 & 12. It is called ‘Science of atrophy’ by academics.
YET as the above Verses and also other Scriptures clearly state throughout the Bible, GOD IS ETERNAL. Therefore HE DESIRES People to let go of WHAT is VANISHING and CLING TO THAT WHICH IS “TRUE AND EVERLASTING” – Matthew 6 : 19 -21.
Continuing HIS Teaching at that time, Christ also went on to Say, “SEEK you FIRST the Kingdom of GOD and Its RIGHTEOUSNESS and ALL these (the basic needs, as per the context) WILL BE GIVEN unto you”.
Many who profess to ‘Follow Christ’ also seem to ‘Seek His Kingdom’ WHILST SEEKING many other things. It is NOT recoded that HE Said, ‘Seek you ALSO the Kingdom…’ but “Seek you FIRST….” and ALSO “ITS RIGHTEOUSNESS” meaning “OBEY the Given INSTRUCTIONS”.
THAT OBEDIENCE would be THE PROOF that THE GOD WHO GAVE THE BIBLE IS FIRST in a Person’s life and SUCH a Person need NOT fear about “GOD’S PROVISION” in his\her life or about HIS PROTECTION, as Psalms 23 also aptly demonstrates.
The MOST important ASPECT of the SHEEP is that they are TOTALLY DEPENDANT upon their SHEPHERD.
