Since the beginning of the site, we have argued that a financial crisis would play a role in the introduction of the cashless state. A financial crisis of catastrophic proportions could also serve to be a catalyst for other changes as well.
Let us start with an extreme assumption, that the current global explosion of debt — government debt, mortgage debt, corporate debt, developed market and emerging market debt — served to fuel a giant, global Ponzi scheme in global financial assets. For a Ponzi scheme to last, it must be constantly fed with fresh net inflows of money — and the global surge in debt provided that. For a Ponzi scheme to end, and in ending to quickly implode, that inflow of fuel must stop. Once the inflows stop, the Ponzi scheme quickly implodes as minor outflows suddenly cause a collapse in prices. Perhaps this is why there is so much fear if the Federal Reserve raising one day interest rates by 0.25 percent — a quarter of one percent or 25 basis points. It is not the burden of paying 0.25% interest that is causing fear, but rather that any attempt to normalize rates will be sufficient cause to tip the Ponzi scheme to sudden implosion. Many commodity prices have crashed and with it, is causing downturns in many commodity driven economies. This has helped stop the inflows to the global debt driven Ponzi. We are now at the top of the roller coaster looking down, as global stock markets looked to have topped and have started their return to Earth. If this is the scenario facing us today, and the Ponzi scheme is about to burst, then what is its relevance in terms of Revelation?
Though it is too early for the ascension of the Beast, that does not mean the required changes cannot happen today. A catastrophic financial crisis could serve to further advance the political merging of the EU member nations. It could also serve as the excuse to link the US and the EU economies more closely — in preparation for the hoped for (by the children of the Beast) political merger of the US with the EU mega-state. The collapse of the private financial sector could move governments to take over the private banking sector, as this could help facilitate the introduction of the cashless society.
It may still be too early for the above scenario, but the monetary policies of the leading central banks (Federal Reserve, ECB, BOJ, Chinese government) have created a boom and bust cycle, and we could be very near to the next financial crisis.