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
2) Are there signs that the EU and the Euro will have a crisis? US dollar collapse?
The PLO wants to be a full member of the UN (be recognized as a state) by September. The PLO is lobbying the Quartet (EU, US, UN and Russia) to declare a statement that they will recognize a PLO state based upon 67 borders with East Jerusalem as its capital. After that, the PLO would like the UN to unilaterally recognize a PLO state based upon 67 borders with East Jerusalem as its capital by September. PLO Prime Minister Salam Fayyad says that Benjamin Netanyahu needs to state whether he accepts a PLO state based upon 1967 borders in the near future. France has indicated that they will recognize a PLO state based upon 1967 borders with East Jerusalem as its capital in September if Israel doesn’t agree to the borders of a PLO state by that time. France is lobbying other EU countries to do the same. Feeling international pressure and the prospects of international isolation, Benjamin Netanyahu has announced that he will reveal a new diplomatic initiate in May in the USA. Israel government sources indicate that this plan would include a temporary PLO state now in about 50% of the West Bank while giving more control of the West Bank over to the PLO. The Israeli government would agree to negotiate the details of a final solution within a specified period of time. The PLO is rejecting this idea. Waiting to hear the details of Netanyahu’s new ideas, the Quartet canceled their March meeting to give Netanyahu more time to formulate and reveal his new position. Defense Minister Ehud Barak said that Netanyahu can’t wait until May to reveal his plan but needs to do so within the next couple of weeks.
An agreement to divide Jerusalem and establish a PLO state is a tribulation event.
The link to these articles are as follows:
1) Israel looks to surrender control of strategic land
2) Barak urges PM not to wait with peace initiative
3) Mideast Quartet Meeting Delayed Because Of ‘Changes’ In Mideast
4) Palestinian presidency urges Quartet to support European statement
5) France to recognize Palestinian state in September: official
6) Abbas calls for full Palestinian membership in the UN
7) PA pushing Quartet to recognize 1967 borders
8.) Fayyad asks Israeli PM to define Palestinian state
The world’s largest bond fund has sold all of its US Treasury notes (US government debt) due to fears of higher inflation and the collapse of the bond market. The Federal Reserve is now buying 70% of US Treasuries. QE2 is scheduled to end in June. If the Federal Reserve quits buying US Treasuries, who will buy the US debt? The US recorded its largest monthly budget deficit ever in February of over 222 billion dollars. There are growing signs that the EU will be facing another financial crisis soon. The debt of Spain has been downgraded and Spain needs money to recapitalize its banks. The cost to finance the debt of Greece and Portugal continue to grow. Because of this, there is concern that the EU will have another sovereign debt crisis in the near future. In December, we revealed that a “globalist insider” indicated that the Euro could collapse anywhere from March – July, 2011. If the Euro collapses then the US dollar will collapse also.
A collapse of the US dollar and the establishment of one world currency is a tribulation event.
The link to these articles are as follows:
1) World’s Largest Bond Fund exits government debt: report
2) Bill Gross: who will buy Treasuries when QE2 stops?
3) U.S. Posts Record Monthly Budget Deficit
4) Greek debt price soars as Moody’s cuts credit rating below Egypt
5) Moody’s downgrades Spain
6) Europe Debt Crisis May Boil to Surface This Week
7) EU paralysis drives fresh bond rout
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