In recent years, Americans are becoming increasingly aware that our nation is accumulating massive government debt in addition to record trade deficits and looming unfunded liabilities. As a nation we are entering into some dangerous territory. In the subtle words of former Federal Reserve Chairman, Alan Greenspan, “…the current imbalances are large and unusual from a historical perspective.” And indeed they are. When President Ronald Reagan took office in 1981 the national debt stood at $1 trillion dollars. While President Reagan considered this figure to be “incomprehensible” it might also be helpful to consider that a trillion seconds would take 30,000 years! With that in mind, the spending in Washington continues regardless of which political party is in power. During his tenure as Comptroller General of the U.S. from 1998-2008, David Walker embarked on a Fiscal Wake-Up Tour alerting fellow Americans that our nation is on an “unsustainable path.” Today he heads up the Comeback America Initiative issuing this same warning.
So what does this mean for the American people? Put simply, America is continuing on an unsustainable path toward fiscal bankruptcy, and our financial reckoning day is now looming on the horizon. In my previous edition I predicted the sub-prime real estate crisis, subsequent bailouts, the Fed’s action to become both the lender and buyer of last resort, China’s move away from our bond market, a global initiative to replace the dollar as the world’s reserve currency and much more. America is now the world’s largest debtor nation, and Fed chair Janet Yellen will not be successful in averting this monetary crisis. As Adam Smith has stated in his classic book The Wealth of Nations, the only way to “liberate” excessive national debt is through a bankruptcy. What is true for individuals is also true for nations. The theme of my book helps explain how we got into this mess and what the likely outcome will be as we go forward.
As I have noted in the Introduction of my book, several fine books have been written concerning these financial and economic issues, but my book is different in two important ways. First, I believe that many individuals who are responsible for our coming fiscal and monetary crisis are the same individuals who are also promoting an end to our national sovereignty and the establishment of regional and world government. This topic is covered throughout my book. Secondly, and more importantly, I have written this book from a distinctly Christian worldview which helps us comprehend the times in which we are living. “The grass withers, the flower fades, but the word of our God stands forever” (Is. 40:8).
Whereas the Bible contains timeless truths and moral guidance for our daily lives, it also contains prophetic insights, which relate to our present age. For example, the Bible has clearly predicted the rebirth of the nation of Israel, the Russian-Arab alliance in the Middle East, the rise of Europe and China on the world scene, and numerous other events which are essential for a complete understanding of our world and the ultimate destiny of America. In a significant way, this is my opportunity to finally explain several complex monetary-geopolitical-prophetic themes in their entirety instead of in bits and parts, which has so often been the case as a radio guest. It is my purpose to challenge your thinking and move you to make some important personal and financial decisions. At the very least, you will be making some new discoveries and learning some helpful, yet painful, truths that you need to know – and once you learn these truths you cannot unlearn them. “Because in much wisdom there is much grief,” said Solomon, “and increasing knowledge results in increasing pain” (Eccl. 1:18).
With respect to space limitations and for the sake of brevity, every attempt has been made to remain concise yet thorough in presenting the material in my book. Important websites have been inserted into the text of every chapter for your immediate referral and review. I have organized my book into four parts that follow in a logical and deductive manner. In Part One we consider a brief history of coin and currency and the evolution of paper money issued by central banks. This includes a rather lengthy discussion regarding the creation, operation, and legacy of the Federal Reserve System since 1913. In Part Two we examine the growth of the Welfare State, and the incredible burden which America’s retiring baby boomers will place upon our nation in the near future and how this will contribute to our unprecedented fiscal problems. We also see how domestic and foreign issues are converging to script the perfect financial storm – everything from massive unfunded liabilities, municipal bond defaults and derivatives exposure to an eventual U.S. sovereign debt default, currency collapse and hyperinflation. This section closes with a careful look at our day of reckoning and what we can expect when that fateful day finally arrives.
In Part Three I have outlined what I believe is America’s eventual road to Third World status, and it’s changing role among the nations of the world. This is necessarily a direct result of a financial and economic collapse in the United States. It will be noted how this new role for America is also being assisted by a policy of wholesale immigration and the promotion of NAFTA, CAFTA, the NAU and other schemes for an EU-style regional government within the Western Hemisphere. I also present significant changes, or paradigms, that are currently developing in the world that involves a new global realignment of power. This includes a review of the European Union, China, Russia, and the increasing volatility throughout the Middle East with respect to Islamic terrorism. Finally, in an effort to put all of this into perspective, we need to turn our attention to a prophetic scenario for the 21st century as indicated in the Bible, especially as it relates to the tiny nation of Israel. Here we see how world events are falling into a prophetic matrix just as the Bible has predicted hundreds of years ago. It is seriously time to dust off your Bible and realize the lateness of the hour we are all living in. In Part Four, I conclude with some thoughts for putting your personal and financial affairs in order. This is a book on how to survive America’s monetary and political decline in the 21st century. It is also a book, however, on hope and how you can ultimately survive your own reckoning day which lies ahead beyond this uncertain and transitory world. It is my prayer that all who read my book will earnestly seek the truth while it can still be found in God’s eternal Word. “For you shall know the truth, and the truth shall make you free” (Jn. 8:32).
Charles H. Coppes
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