You may view the 5 minute update this week via audio:
In this week’s 5 minute update, we focused on several things:
1) The current status of the Israel / PLO peace process
3) Prospects for US economic collapse and the devaluation of the US dollar
The 10 month settlement freeze in the West Bank ended on September 26. The USA proposed to extend the settlement freeze for 2-3 months while offering Israel various incentives to do so. If a settlement freeze is extended, the goal will be to agree to the borders of a PLO state during this time. If Israel does agree to an extension, they want the US to agree that in any final status deal that Israel will keep the large settlement blocs and limited construction would be allowed in the settlements while talks are being held. If an agreement on the borders of a PLO state does not materialize during a proposed 2-3 month settlement freeze extension, a senior Israeli official has stated that Obama will never agree to the resumption of building in the West Bank. It is reported that Netanyahu tried to persuade his government to accept the US proposal but a majority in his government will not agree. The PLO have agreed in principle to agree to continuing direct talks with Israel for a 2-3 month settlement extension if it will result in an agreement on borders of a PLO state during this time. If Israel doesn’t agree to an extension of the settlement freeze, Mahmood Abbas has stated his intention to resign from being President of the PLO. Meanwhile, the Arab League has agreed to support Abbas to end direct talks with Israel if Israel doesn’t extend the settlement freeze and agreed to give the USA one more month to convince Israel to extend the settlement freeze.
An agreement to divide Jerusalem and establish a PLO state is a tribulation event.
The link to these articles are as follows:
1) Obama asks for 2-month building moratorium
2) US scrambles to save peace talks
3) Oren: US offered Israel incentives to encourage freeze
4) Palestinian state within 2 months?
5) Proposal: Limited Construction during Talks
6) Israel PM urges Obama to back earlier commitments
7) Jerusalem Source: ‘No Chance’ Obama will agree to End Freeze
8) PM testing waters in cabinet on freeze extension
9) Abbas to Mitchell: I will resign if settlement construction continues
10) For Netanyahu to accept new freeze, US might have to sweeten the deal
11) Palestinians accept 2-month freeze entension proposal
12) Arab League supports Abbas’s decision to halt talks
13) Abbas may ask US recognition for state in 1967 borders
The Federal Reserve has announced plans to monetize the US debt (print money). In the short term, this causes stocks to rise, interest rates to fall and gold to rise. Ultimately, this causes a crisis in confidence in the US dollar which will result in the crash of the bond market (higher interest rates) and hyperinflation. In a recent speech, Ben Bernanke indicated that the US is on the path of financial collapse if spending and debt continues to increase at the current rate. Golden Sachs is forecasting a sharp decline in the dollar for 2011. It appears that the US has started down the path of dollar devaluation. This is causing the beginning of currency wars around the globe as countries around the world don’t want a strong currency against the US dollar as it will weaken their export economy to the USA. As a result, their is a call for the G20 to coordinate dollar devaluation so that it won’t adversely affect the global economy.
A collapse of the US dollar and the establishment of one world currency is a tribulation event.
The link to these articles is as follows:
1) Bernanke Tells the Truth: The United States is on the Brink of Financial Disaster
2) Is the Fed playing with fire?
3) Dollar falls on policy, imbalance concerns
4) Dollar set for sharp decline, Goldman forecasts
5) IMF chief fears risk of currency war after Japan’s zero interest rate move
6) Currency war heats up
7) Analysis: G20 proximity talks needed to avert FX war
8) FDIC Board Proposes Rules on Temporary Unlimited Deposit Insurance Coverage for Noninterest-Bearing Transaction Accounts
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