November 19, 2011: Weekly 5 minute update (Audio Only)

You may view the 5 minute update this week via audio:

1) Listen to the audio

In this week’s 5 minute update, we focused on:

1) The current status of the Israel / PLO peace process
2) The prospects for war with Iran
3) The US and European Debt Situation

The Quartet (US, EU, UN and Russia) met with Israeli and PLO leaders on Monday to seek the resumption of direct peace talks. There was no agreement. The PLO insists that they will not have direct peace talks with Israel as long as Israel continues to build in the West Bank and East Jerusalem. Because of the PLO application and acceptance into the UN agency UNESCO, Israel have frozen the transfer of tax funds to the PLO.  France has agreed to help the PLO get acceptance for a PLO state in the UN General Assembly.  Fatah and Hamas have agreed on the terms to set up a unity government which excludes current PLO Prime Minister Salam Fayyad being in leadership. Fayyad is preferred by the US and Europe but opposed by Hamas.  Mahmood Abbas has a scheduled meeting with Hamas leader Khaled Mashaal on November 25 to discuss the details of the formation of the PLO unity government.

An agreement to divide Jerusalem and establish a PLO state is a tribulation event.

The link to these articles are as follows:

1) No gains after Quartet meets Israelis, Palestinians
2) Top Palestinian official: Settlements and two-state solution ‘mutually exclusive’
3) France Ready to Cooperate with Palestinians on General Assembly 
4) Fatah, Hamas agree to establish caretaker government without Palestinian PM Fayyad
5) Abbas says he will meet Mashaal on Nov 25

The 22-member Arab league demanded that Syria implement a peace plan regarding Syrian civil unrest or face increased economic and political penalties from Arab nations. In last week’s International Atomic Energy Agency report on Iran, DEBKA reports that the IAEA report did not include the status of the Iranian nuclear program for the last 2 years because of pressure from the US so that President Obama can have 6-10 more months to decide how to handle the threat.  DEBKA’s intelligence sources indicate that Iran will have about 5 nuclear bombs by April, 2012 and the USA and Israel only has 2-3 months to launch a military attack to prevent it.  USA and Israel are in advanced planning to bomb Iran and believe that they will only need 10-14 days to successfully attack Iran.

A US war with Iran is a tribulation event.

The link to this article is as follows:

1) Arab League votes to suspend Syria
2) Iran’s Nuclear Warheads Were Edited out of the Nuclear Agency Report
3) Iran will have five nukes by April 2012. Only 2-3 months left for military option
4) The Odd Couple in the Lead – Obama and Netanyahu

The US Federal now is now above $15 trillion dollars. The Federal Reserve is now the largest holder of US debt surpassing China. The Federal Reserve and foreign countries now own 61% of the US debt.  Spain will pay its highest cost of borrowing 10-year debt which will be above 6% since the creation of the euro. A 10-year yield above 7% is generally agreed as being unsustainable for European countries to finance their government debt. European Commission President Jose Manuel Barroso and EU President Herman Van Rompuy are calling for deeper integration between European Union countries regarding economic issues.  In Italy, unelected economist Mario Monti who is a former European Union commissioner became interim Prime Minister. He selected a Cabinet of technocrats to try to impose austerity measures upon the citizens of Italy. German Chancellor Angela Merkel is calling for the economic and political union of Europe.  A summit is being planned on Dec. 9 to discuss making changes to the EU’s treaty to facilitate this idea. Germany wants concrete proposals to change the Lisbon treaty which established the European Union by spring 2012.  Germany wants changes to the Lisbon treaty to be done and ready to be implemented by the end of 2012 so that EU institutions can dictate the terms of economic policies to individual nation states.  If individual nations do not agree to do what they are told then they can be punished with sanctions as specified by the treaty or through a European court.  An economic and political union of Europe with a common currency has been the vision and goal of its founders from the beginning of their plans.

Worldwide economic collapse resulting in a one-world currency is a tribulation event.

The link to these articles are as follows:

1) Federal debt tops $15 trillion
2) Fed Now Largest Owner of U.S. Gov’t Debt—Surpassing China
3) Spain 10-yr debt costs to hit new high as crisis deepens
4) EU Leaders Call for Continent’s Economic Consolidation
5) Merkel Risks EU Clash Over Political Union Push to End Crisis
6) Merkel wants change to EU charter by end 2012
7) Creating a European Superstate

From a Biblical prophetic perspective, the reason why the God of Israel would allow these events to happen is because it will result in the end of the exile of the house of Jacob and the reunification of the 12 tribes of Israel (Ephraim and Judah).

We will to be “watchmen on the walls of Jerusalem” and we will not rest until the God of Israel makes Jerusalem a praise in the earth (Isaiah 62).

Shalom in Yeshua the Messiah,

Eddie Chumney
Hebraic Heritage Ministries Int’l

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