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The Chinese were the first in the world to invent paper money back in the 7th Century. After encountering paper money on his journey to China in the 13th Century, Marco Polo observed that the Mongol emperor "had a more extensive command of treasure than any sovereign in the universe."
Today, China is apparently at the forefront of monetary innovation and is on the cusp of eliminating cash and pushing the world toward total government surveillance.
This is significant as it relates to our own United States.
It is particularly significant to Bible-believing Christians and the fulfillment of biblical prophecy.
Be informed, not misled.
We're on the cusp...of what?
Bloomberg says China is on the cusp of launching a digital-only currency. Coins will also disappear.
The business site says:
"In preparation for becoming the world's first major economy to go fully cashless, several Chinese megacities marked the lunar year of the Ox, celebrated February 12, by handing out millions of yuan (or renminbi) worth of digital 'red packets' via a lottery. The virtual currency is supposed to circulate nationwide in time for the winter Olympics next year."
Bloomberg says, "As usage spreads, the rulers of modern-day China will also exert more control over a nation's wealth than any sovereign ever has."
The architects of the system stress its potential benefits in combating fraud and corruption.
Analysts with Bloomberg Intelligence imagine a future in which the central bank could ease the financial burden on rural households, or struggling enterprises, by "directly assigning them e-renminbi rather than lowering interest rates---a more indirect form of relief that's slower to take effect."
"The downside," the analysts ask, "for individuals from this monetary micromanagement?"
"A new form of state surveillance."
More control-- Less freedom.
Erik Bethel, former US executive director with the World Bank, tells CBN News it's important to understand this is not cryptocurrencies, they are not so-called coins, in effect, "they are the national physical currency of a country just presented in digital form."
Bethel says while the world fixates on private cryptocurrencies like Bitcoin, Beijing is busy building a digital version of its own currency, the Yuan, also known as the Renminbi, to control its citizens and eventually threaten the dominance of the US Dollar."
He says, "They've pretty much created all of the building blocks that will allow a central bank digital currency to flourish. US Congressman Michael McCaul (R-TX), the top Republican on the House Foreign Affairs Committee, says this gives "unprecedented access to people's financial transactions."
He says, "This will give the Chinese government"---the Communist Party-- "data on behavior and how people spend, and it will do so in real-time."
Bethel says, "There will be a point where the People's Bank of China, the central bank of their country, is going to be able to look, peer inside every single transaction, what everybody does, 24 hours a day, 7 days a week."
He explains that if you are a human rights activist ---or a Christian, authorities can use this new technology to punish you if you engage in activities they consider anti-government.
Former US Ambassador for International Religious Freedom under President Trump, Sam Brownback---an evangelical Christian and former US Senator---says:
"They've got cameras everywhere, social credit system, and if they get their money digitized, where there's no physical currency anymore, they will be able to track every transaction that's made with Chinese currency and they can shut you off, just shut you off if they decide they don't like who you are or what your faith is."
Experts agree, that eventually, the US and other foreign companies doing business in China will be required to use the government's new digital currency payment system.
We are already seeing forced compliance by some of America's largest companies with China's "Social Credit Score" program.
Would other nations consider joining China's digital currency system?
The short answer is "yes." They are already planning in that direction.
US Congressman Mike Waltz (R-FL) says he's worried that Beijing will use this form of payment to also skirt economic sanctions.
And he's sure China will be more than happy to share the technology with other rogue regimes that seek to enhance their own surveillance capabilities over their citizens.
He says, "So that those other countries in Africa, the Middle East and elsewhere, can dominate their people in line with the Chinese version of government, but then the data comes back to Beijing so that they will literally, through face recognition and voice recognition, be able to monitor the globe."
Waltz says the Chinese government will convince countries like Burma, Iran, North Korea, and others, to do business with China which will force them to enter China's digital currency system.
At least 12 other nations are reportedly going into or are considering Central Bank Digital currencies at this point.
What does all this mean to me?
Historically, Chinese empires collapsed when they lost control of the currency. This happened to both the Mongol Yuan dynasty and the Ming dynasty.
The Communists took power from the Nationalists, who ran the printing presses so hot printing currency to finance a war against Japan, that prices increased 35 million times by some calculations.
Some are saying the new Chinese digital currency will replace printed world currencies---even the US will ultimately join the new world economic order.
Other "experts" say ultimately this Chinese effort to dominate world currency will come to a crossroads. A choice: "Either they can have absolute control over digital money circulating at home, or an international currency. But they can't have both."
There is a biblical connection that is so obvious it cannot be overlooked by thoughtful people. Particularly biblical Christians.
While the Bible does not specifically say there will be a one-world government or one world economy or currency, or one world religion, it certainly describes that as the outcome in the end times.
From the writings in Revelation 13:1 and Daniel 7:16-24, we can conclude that some sort of world system will be inaugurated by the "beast."
John describes in the Revelation (13:2-4 ) that Satan himself will empower the Antichrist who will receive worship from "all the world." And he will have authority over "every tribe, people, language and nation" (13:7). From this, we can see clearly that from these diverse systems he will create one.
Revelation chapters 6-11 describes plagues or disasters so devastating they will create a monumental global crisis that will cause people to accept most anything they think will bring them relief.
Once entrenched in power, the beast (Antichrist) and the power behind him (Satan) will move to establish absolute control over all the peoples of the earth to accomplish their end, the worship Satan has been seeking ever since he was thrown out of Heaven (Isaiah 14: 12-14). One way they will accomplish this is by controlling a one-world economy, government and religion.
The push toward globalism is already well underway.
Is China, or some figure from China the Antichrist? No, I don't think so, but as John said, "The spirit of Antichrist is already among us." And the world is moving rapidly toward a situation the Bible refers to as the "end times."
I believe we are living in those "times" and there is a conditioning of the world culture even now to accept the agenda of the Antichrist.
In Luke 21:28 Jesus gives us an image of what those end times will look like. Then He says,
"And when you see these things coming to pass, then look up, and lift up your heads; for your redemption draweth nigh."
Be Prepared. Be Faithful. Be Informed. Be Discerning. Be Prayerful.