Professional Documents
Culture Documents
05 May 2009
05 May 2009
2020Rapture?
AngloIsrael
Translations
Pg. 43
18-30Year Olds
TheGlobal
Generation
Pg. 34
The International Prophetic Voice for the Endtimes
MAY 2009$4.75
LETTERS TO THE EDITOR
Posttribulationism
Pg. 19
TheDaysof OneWorld,
OneCrisis
Pg. 28
MC0509coverFINAL:MC0306 1A1B 4/2/09 8:48 AM Page 1
C O N T E N T S
8
FromWorldCrises
ToWorldLeader
By Norbert Lieth
The environmental crisis, international terrorismand
the worldwide financial crisis are driving our world
toward unity and in the direction of a last "world
giant" prophesied of in the Bible. Today, the stage is
being set for the coming antichristian world
kingdomand its leader.
19
Posttribulationism Part II
by Dr. Ron J. Bigalke Jr.
28 Money: Ends and Trends
The Days of OneWorld, One Crisis
By Wilfred Hahn
The recent shakings of the false gods of global prosperity have struck
fear into the remotest parts of the globe. In the midst of the chaos, we
are seeing something very remarkable: Never before has the entire
world behaved so much as one monolithic culture.
Midnight Call
MAY 2009
COVER STORY
38 CHINA
Foreign Secretary
Clinton Urges China
to Help
39 UK
Britain Accused of
Failing Children
40 USA
Worst Financial
Crisis in
Sixty Years
41 FRANCE
Unnatural
Selections
42 NORWAY
Homosexual
Marriages and
Adoptions Okayed
4 Editorial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .By Arno Froese
ZEPHANIAH 2:3
34 Missions Update . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . By Remsen Beitel, Jr.
18-30 YEAR OLDS THE GLOBAL GENERATION
43 Letters tothe Editor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .By Arno Froese
2020 RAPTURE?...ANGLO ISRAEL...TRANSLATIONS
1
DEPARTMENTS
$
Mc0509FINALrvsd.qxd:MC0306 1A1B 4/2/09 8:44 AM Page 3
4 M I D N I G H T C A L L
Seek ye the LORD, all ye
meek of the earth,
which have wrought his judgment; seek righteousness, seek
meekness: it may be ye shall be hid in the day of the LORD'S
anger (Zephaniah 2:3).
E D I T O R S N O T E
B y A r n o F r o e s e
1
T
here is no more appropriate
study of Scripture than the
prophets, who proclaim severe
judgment upon the people of Israel
generally and Judah in particular. This
is fitting for our global world.
For the first time, we are experiencing a
truly global recession. Some prognostica-
tors predict a full-fledged depression, al-
though no one really knows. What is
evident is that the signs of the times for the
world are definitely negative. But we must
not overlook the fact that the majority of
the people in the industrialized world are
still doing very well. Those who really hurt
are the poorest. That, doubtless, was the
case during the times of the prophets in the
land of Israel.
When we studied some of the other
prophets previously, we noticed how se-
verely the people of Israel treated the poor
amongst them (see Amos 2:6-7; 4:1; 5:11,
etc.). But when the judgment of God
comes, riches will no longer help. We saw
this in chapter 1, verse 18: Neither their
silver nor their gold shall be able to deliver
them. This warning is also given in the
New Testament: Go to now, ye rich men,
weep and howl for your miseries that shall
come upon you. Your riches are corrupted,
and your garments are motheaten. Your
gold and silver is cankered; and the rust of
them shall be a witness against you, and
shall eat your flesh as it were fire. Ye have
heaped treasure together for the last days
(James 5:1-3). Note particularly the words,
the last days. The obsession for more
possessions is playing a major role in these
end times.
Here is what it says in Zephaniah 2:1-2:
Gather yourselves together, yea, gather to-
gether, O nation not desired; Before the de-
cree bring forth, before the day pass as the
chaff, before the fierce anger of the LORD
come upon you, before the day of the
LORDS anger come upon you. Who is
this nation not desired? It is Israel collec-
tively, and Judah, in particular. Why should
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MAY 2009 5
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they gather themselves together? God is giving them the opportunity to
change before judgment comes. Here something marvelous is being said;
namely, Gods wonderful grace and mercy breaks through in the midst of
judgment. Note the word before. What are they to do before the Lords
fierce anger? Verse 3 answers: Seek ye the LORD, all ye meek of the earth,
which have wrought his judgment; seek righteousness, seek meekness: it
may be ye shall be hid in the day of the LORD'S anger. Quite apparently,
there is a remnant within the land of Judah who are admonished to seek
the Lord, to seek righteousness, to seek meekness. These are the ones who
would escape the destructive judgment that was to come upon the land.
The next verse reminds us of the place the worlds media is alarmed
about: For Gaza shall be forsaken, and Ashkelon a desolation: they shall
drive out Ashdod at the noonday, and Ekron shall be rooted up (verse 4).
Gaza is one of the oldest cities in the world. Biblically, she has been associ-
ated with Israels fiercest enemy, the Philistines. The cities of Ashkelon and
Ashdod have been newly established by the State of Israel in the same an-
cient place. The desolation and destruction are testified of by some ancient
ruins now uncovered by archaeologists.
Woe unto the inhabitants of the sea coast, the nation of the
Cherethites! the word of the LORD is against you; O Canaan, the land of
the Philistines, I will even destroy thee, that there shall be no inhabitant
(verse 5).The Mediterranean coast was virtually deserted without inhabi-
tants, until the Jews returned to the land of Israel and rebuilt the country.
The second largest city in Israel, Tel Aviv today, was established in 1909.
The city was literally built on sand dunes. Today the Tel Aviv metropolitan
area has a population of approximately 3,200,000. The virtually miracu-
lous success of the Jews in the land of Israel has become the envy of the
Arab world, and has contributed to their fierce hatred.
But that is fulfillment of prophecy. In spite of severe judgment, in spite
of total destruction and desolation, there is a remnant: And the sea coast
shall be dwellings and cottages for shepherds, and folds for flocks. And
the coast shall be for the remnant of the house of Judah; they shall feed
thereupon: in the houses of Ashkelon shall they lie down in the evening:
for the LORD their God shall visit them, and turn away their captivity
(verses 6-7). Indeed, Ashkelon is a modern-day miracle; it is a thriving,
prosperous city. Driving to Ashkelon from Tel Aviv or Jerusalem, one is
confronted with another miracle, namely the restoration and the resur-
rection of agriculture in the land of Israel. Before the Jews came, the land
of Israel was nothing more than a semi-desert, definitely unsuitable for
agriculture.
Next, the prophet turns to Israels neighbors. Let us read this very care-
fully: I have heard the reproach of Moab, and the revilings of the children
of Ammon, whereby they have reproached my people, and magnified
themselves against their border. Therefore as I live, saith the LORD of
hosts, the God of Israel, Surely Moab shall be as Sodom, and the children of
Ammon as Gomorrah, even the breeding of nettles, and saltpits, and a per-
Mc0509FINALrvsd.qxd:MC0306 1A1B 4/2/09 8:44 AM Page 5
petual desolation: the residue of my people shall spoil them, and the rem-
nant of my people shall possess them (verses 8-9). When reading these
verses, we are almost shocked at an apparent change of Gods attitude. The
chapter started with the degrading statement, O nation not desired.
Luther translated it, You are a nation of enemies. But now judgement is
pronounced against Israels neighbors. We must keep in mind that this is
between God and His people. The surrounding nations such as Moab and
Ammon had no right to reproach my people. Three times we read the
words my people in these two verses. God is watching over His own. He
will fulfill His promises in full in due time for His people. Actually, He con-
demns those who rejoice over Israels misfortune, although Israel had
brought it upon themselves.
This is an extremely important issue we need to discuss a little further. It
is a prophecy yet to be fulfilled. Although there are believers in every na-
tion of the world, the overwhelming majority rejects Jesus. The Bible
prophesies that one day, all will have to acknowledge Jesus. Here is what
Philippians 2:10-11 says: That at the name of Jesus every knee should
bow, of things in heaven, and things in earth, and things under the earth;
And that every tongue should confess that Jesus Christ is Lord, to the glory
of God the Father.
Next, a brief mention is made of Ethiopia: Ye Ethiopians also, ye shall
be slain by my sword (verse 12). No more is said. Ethiopia plays a signifi-
cant role in the Bible. The queen, for example, came to King Solomon in
Jerusalem and confessed that the God of Israel is the God of heaven and
earth. Later, we read of the Ethiopian finance minister who came to Israel
to the temple to worship. On his way back to Ethiopia, the Spirit of God
caused Philip to preach unto him that Jesus Christ is the Son of God. The
Ethiopians heart was opened; he received the truth and asked, What doth
hinder me to be baptized? (Acts 8:36). And Philip said, If thou believest
with all thine heart, thou mayest. And he answered and said, I believe that
Jesus Christ is the Son of God (Acts 8:37). There is a clear relationship be-
tween Ethiopia and Israel. Even in modern times, tens of thousands of
Ethiopians were accepted as Jews and became Israeli citizens in recent
years.
Another nation is specifically mentioned, and that is Assyria. Here is
what we read: And he will stretch out his hand against the north, and de-
stroy Assyria; and will make Nineveh a desolation, and dry like a wilder-
ness. And flocks shall lie down in the midst of her, all the beasts of the
nations: both the cormorant and the bittern shall lodge in the upper lintels
of it; their voice shall sing in the windows; desolation shall be in the
thresholds: for he shall uncover the cedar work. This is the rejoicing city
that dwelt carelessly, that said in her heart, I am, and there is none beside
me: how is she become a desolation, a place for beasts to lie down in! every
one that passeth by her shall hiss, and wag his hand (verses 13-15). The
epitome of rebellion and sin against God is exposed with their own words,
I am, and there is none beside me. This reminds us of the church of the
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E D I T O R S N O T E
1
MAY 2009 7
Laodiceans, where she exclaims, I am rich and increased with goods, and
have need of nothing.
What a fitting picture of our days. Churchianity is suffocating in riches
and luxuries, while members of the true Church are oppressed, disre-
garded, rejected, mocked, and sometimes persecuted. I take this opportu-
nity to call your attention to our brothers and sisters who are in deep
tribulation and extreme persecution in countries such as Iraq, Afghanistan,
and recently in Gaza. While we support Israels fight for freedom and secu-
rity, we must not overlook that our Lord who has stated, I will build my
church also has His children in the midst of the chaos of Gaza. From con-
fidential sources, we receive reports that many fear for their lives. The gen-
eral attitude is that the Church is visibly manifested to the world.
Subsequently, it is believed that the Church is somehow limited to Chris-
tianized Europe and the new countries. I venture to say that this is a great
mistake. While Christian activity is virtually monopolized by the European
world, or as we call it, the Western World, that in no way means that there
alone is the Church. I venture to say that if all churches were closed tomor-
row, that if all mission organizations with their respective work, missionar-
ies, radio, television, publishing houses, etc., were closed, it would do no
damage to His Church. While this work is important and we must do our
utmost in the propagation of the Gospel of Jesus Christ to all people, never
must we be so highminded as to assume that God depends on us. Remem-
ber, Jesus says, I will build my church. We can therefore assume that
when the Rapture takes place, the surprise will be overwhelming in rela-
tionship to church activity. It may well be that a relatively small number
will be raptured from the so-called Christian world, and surprisingly,
great numbers from the Muslim, Hindu, and communist world. If such is
the case, then we can understand how religious unity will be solidly estab-
lished among the Christians, Muslims, Hindus, Buddhists, etc. That will
add to the foundation for the fulfillment of Revelation 13:8: And all that
dwell upon the earth shall worship him [the Antichrist].
Everything else is in the full swing of preparation. The politicians, finan-
cial managers and global economists are feverishly busy to establish a uni-
fied world: one that is controlled, regulated, and readily prepared for one
person to rule, and that is Antichrist. MC
A
t the end of 2007 my wife and I re-
turned to the US after spending 14
years in Germany as missionaries
to be nearer our children and grandchil-
dren, but also to represent RADIO New
Hope (RNH) in the US, the satellite radio
ministry we founded there. During that
time we started two Christian satellite and
Internet radio stations: one broadcasting
throughout Western and Eastern Europe,
reaching over 97 million households; and
the other throughout the Middle East, in-
cluding northern Africa, southern Russia,
Turkey, Iraq, and Iran, reaching over 47.5
million households. This was the most
exciting and challenging experience in
our lives!
In my new role as Director of US Oper-
ations in Tulsa, Oklahoma, my primary
responsibilities for RNH include raising
funds to help keep both radio stations on
the air and developing new foreign lan-
guage program partners for broadcast
over RNH. These responsibilities require
that we spend a great deal of time travel-
ing around the US introducing RNH to in-
dividuals, churches and mission
organizations committed to proclaiming
the Gospel to the lost around the world as
commanded by Christ in Matt. 28:18-20
and Acts 1:8. This has been an eye-open-
ing experience for us, because so much
has changed in the Christian church in
America while we were gone.
One of the first things we noticed dur-
ing our travels was that many churches
were no longer having Wednesday and
Sunday night worship services, as was the
norm back in the early 90s. The reason
we heard most often was that congrega-
tions gradually just stopped attending.
We also learned about the sharp decline
in congregational interest in attending
mid-week Bible studies and annual mis-
sion conferences, ministries that were
once the backbone of most local
churches. We found it interesting that
these changes in the American church
took place during a period when it be-
came popular for churches to adopt
Madison Avenue marketing techniques
in an attempt to grow their congregations.
It was during this period of secular ex-
perimentation that the focus of many
churches was on growing big in the
manner of Willow Creek and often at the
expense of sound biblical doctrine. In-
stead of teaching the Word of God and re-
lying on the Holy Spirit to grow Christs
Body, as He deemed fit, it became fashion-
Remsen Beitel is the
founder of RADIO New
Hope, a Christian satellite
and Internet radio network
broadcasting the Word of
God throughout Europe
and the Middle East. Rem-
sen and his wife Ellen (a
Messianic Jew) went to
Germany as missionaries
in 1994, and during the
subsequent 14 years they
started RADIO New Hope,
taught Bible studies, and
ministered to the spiritual
needs of believing nation-
als. In 2006 RADIO New
Hope merged with Mid-
night Call and its broad-
cast studio was moved to
Zurich, Switzerland. At the
end of 2007 Remsen and
Ellen returned to the US,
where he serves as the
Director of US Operations
for RADIO New Hope, re-
sponsible for station fund
raising and for developing
new and maintaining ex-
isting foreign language
program partners. They
live in Tulsa, OK and can
be contacted at: rem-
sen.beitel@
radionewhope.org
Mc0509FINALrvsd.qxd:MC0306 1A1B 4/2/09 8:45 AM Page 34
MAY 2009 35
able for churches to offer people a positive
or memorable emotional experience
without the necessity of dealing with their
sin problem. And still many other
churches sought to attract the
unchurched (a new culturally accept-
able term for the spiritually lost in our so-
ciety today) with Christian rock music
and songs that reflected todays pop cul-
ture. As a consequence, many of our
churches became better known for their
entertainment, or places to go on Sunday
to feel good, rather than citadels of bib-
lical truth where people are confronted
with the real spiritual issues in their
lives.
The result of all these changes on the
American Church over time has been the
loss of interest in biblical evangelism, for-
eign missions, and genuine spiritual
growth where peoples lives are changed
to the point of wanting to serve the Living
God, before whom we will all have to give
an account (2 Cor. 5:10). It seems that
pastors and elders of many churches have
forsaken their spiritual responsibility to
shepherd the flock entrusted to them.
Could it be because they no longer fear
the One before whom Scripture says, all
things are naked and openedwith
whom we have to do (Heb. 4:13)?
Generally speaking, the Christian
Church today is in a very sad spiritual
state and not unlike the church that will
exist in the world during the End Times
described for us in Revelation! Given the
terrible economic turmoil that the US
and the world are presently experienc-
ing, many evangelicals believe that the
Rapture and the Tribulation are
closer than most Christians think. Per-
sonally, this writer believes the world is
experiencing the beginning birth
pangs leading up to those dramatic and
catastrophic events. Meaning, believers
today aught to be watching and antici-
pating Christs Coming for His Church at
any time (1 Thess. 4:13-18)!
Another phenomenon that caught our
attention as we traveled around our coun-
try last year was the absence of the 18-30
year-old generation in our churches.
This has recently attracted the attention
of some church leaders, as evidenced by
their growing concern for those they are
depending on to fill the pews and offer-
ing plates in the future. Sadly, their anxi-
ety seemed to be more economical than
spiritual, further illustrating my earlier
comment regarding the churchs coolness
today toward biblical evangelism and
missions. When I say biblical evangelism
and missions, I mean the kind that
demonstrates a genuine concern for the
spiritually lost in their community and
the world, and not just an interest in
warm bodies to grow their church. Im
afraid that many pastors and elders have
forgotten that it is Christ who builds His
Church, as they are faithful to teach His
Word and shepherd His Flock. Unfortu-
nately, most talk and act like it is their
church and their flock!
Since the primary goal of RADIO New
Hope is to proclaim the Gospel to the lost
of all ages worldwide, my personal interest
in the 18-30 generation is to learn how we
can effectively communicate with them.
This is also the desire of our program part-
ners who air their radio programs on
RNH. But before we can do that, we must
first understand why they left the church.
And it was for this reason that I began to
inquire of people and organizations that
track and research such trends in Chris-
tianity.
While the question is a complex one
and may indeed have multiple answers,
the one that sounds most plausible to me,
given the times we live in, can best be il-
lustrated by the Internet and the cell
phone we have all become so dependent
Missions Update
MAY 2009 37
the future of the church. Some misguided
church leaders are focusing their efforts
on trying to get this generation back
into the church. I say misguided because
they fail to understand the paradigm shift
that has taken place as a result of the
communication revolution that I de-
scribed earlier. I believe it is a mistake
and a waste of time and resources for
church leaders to think that they can im-
plement some new program to bring
the 18-30 generation back into the
church. In my opinion they are focusing
on the wrong solution! Instead, they
need to hire the right youth pastors and
empower their youth leaders by giving
them the tools, resources, and freedom to
meet the 18-30 generation where they
are: physically, mentally, and spiritually.
That means, going where they go and us-
ing websites, text messaging, e-mails, and
podcasting to communicate with them on
the spiritual, moral, and social issues that
concern them. And to do so takes time
and money!
To do so effectively, youth pastors and
leaders need to begin the process by con-
ducting meaningful focus group inter-
views with their high school students
early to learn what approaches and tech-
niques will work best in their community.
The good news is that when the above
methods are used properly, the 18-30
generation returns to the churches they
left after they get married and start hav-
ing children, because they want their
children to be raised in homes and
churches that care about them.
Presently I am working with churches,
mission organizations, and our program
partners to show them how they can uti-
lize satellite radio, the Internet, and their
individual websites combined with pod-
casting and text messaging to develop
meaningful relationships with their di-
verse audiences. I dont believe it is a co-
incidence that the Lord has given us
these mass communication tools at this
particular point in time to overcome the
political, social, and religious barriers
that exist around the world preventing
the Gospel from being proclaimed to all
nations, tribes, and peoples. However, to
take advantage of these new technologies,
it will be necessary for church organiza-
tions to think outside the box and
change the way they communicate with
the younger generation, as well as how
they administer their evangelism and
mission programs.
We at RADIO New Hope are also show-
ing churches and mission organizations
how they can partner with us to reach the
billions of spiritually lost people in Eu-
rope, the Middle East, India, and Russia,
including the Caucuses, who have not yet
heard the Good News of Jesus Christ, us-
ing our satellite and Internet radio net-
work. If you are interested in joining with
us in this endeavor, you can contact me at
remsen.beitel@radionewhope.org.
MCM I NTERNATI ONAL T H O M A S S U P P O R T MI DNI GHT CALL MI NI STRI ES
Mail to: Midnight Call Ministries, P.O. Box 280008, Columbia, S.C. 29228
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Mc0509FINALrvsd.qxd:MC0306 1A1B 4/2/09 8:45 AM Page 37
I certainly do think that
the Chinese govern-
ment and central bank are mak-
ing a smart decision by
continuing to invest in Treasury
bonds, she said during an inter-
view with the popular talk show
One on One. Its a safe invest-
ment. The United States has a
well-deserved financial reputa-
tion.
To boost the economy, the
U.S. has to incur more debt, she
said, shortly before departing for
Washington. It would not be in Chinas interest if we
were unable to get our economy moving, Clinton
said. So by continuing to support American Trea-
sury instruments, the Chinese are recognizing our
interconnection. We are truly going to rise or fall to-
gether. We are in the same boat and, thankfully, we
are rowing in the same direction.
Our economies are so intertwined, the Chinese
know that to start exporting again to their biggest
market, namely the United States, the United States
has to take some very drastic measures with this
stimulus package, which means we have to incur
more debt.
Foreign Minister Yang Jiechi responded that
China wants to see its foreign exchange reserves
the worlds largest at $1.95 trillion invested safety
and to continue working with the United States.
Clinton and Yang said regular dialogue on eco-
nomic issues would now include terrorism and other
security issues. We have every reason to believe
that the United States and China will recover and to-
gether we will help lead the world recovery, she told
reporters at a news conference with Yang.
-news.yahoo.com, 22 February 2009
Who would have thought a couple of
decades ago that communist China would
have the financial capability to keep capi-
talist U.S.A. from sinking further? This
article originates with the Associated
Press, which naturally tries to soften the
embarrassment, but a Chinese newspaper
bluntly stated, China responds gener-
ously to Americas plea for financial aid.
For Bible students, this should not be
surprising. Communist China, with the
worlds largest population, must become
an equal partner in the developing of the
global world. Thus we see the power
structure shifting in a more favorable
balance between capitalism and commu-
nism. 3459
C H I N A
Foreign Secretary Clinton Urges China to Help
Unicef looked at 40
indicators from the
years 2000-2003 including
poverty, family relation-
ships, and health.
One of the reports au-
thors told the BBC that un-
der-investment and a
dog-eat-dog society were
to blame for Britains poor
performance.
The government says its
policies have helped to im-
prove child welfare.
Unicefthe United Na-
tions childrens organiza-
tionsays Child Poverty in
Perspective: An Overview
of Child Well-being in Rich Countries is the
first study of childhood across the worlds
industrialized nations.
In its league table the Netherlands came
top, followed by Sweden, Denmark and Fin-
land.
The UK government said its initiatives in
areas such as poverty, pregnancy rates,
teenage smoking, drinking and risky sexual
behavior had helped improve childrens
welfare.
Welfare reform minister Jim Murphy said
the Unicef study was important, although it
used some data which was now out of date.
Hopefully, it leads to a wider conversa-
tion about what more we can do to eradi-
cate poverty, he said.
The Childrens Commissioner for Eng-
land, Professor Sir Al Aynsley-Green, said:
We are turning out a generation of young
people who are unhappy, unhealthy, engag-
ing in risky behavior, who have poor rela-
tionships with their family and their peers,
who have low expectations and
dont feel safe.
Colette Marshall, UK di-
rector of Save the Children,
said it was shameful to
see the UK at the bottom of
the table.
-news.bbc.co.uk
These findings deliver a devastating
blow to conservative opinions, who in-
sist stricter rules and enforcement will
improve the well-being of children. But
of the top 10 nations, five are ex-
tremely liberal, even forbidding the
corporal punishment of children in
their own homes. These findings will
contribute toward the outlawing of
scriptural instruction such as Proverbs
22:15: Foolishness is bound in the
heart of a child; but the rod of correc-
tion shall drive it far from him.
3445
MAY 2009 39
C H I N A
Foreign Secretary Clinton Urges China to Help
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R U S S I A
Beijing Undergirds
Russia with $25bn in
Exchange for Oil
Russia has won $25bn in loans from
China in return for agreeing to supply oil
from new fields in eastern Siberia for the next 20
years as Moscow seeks funds to see its oil in-
dustry through the financial crisis.
Igor Sechin, Russias energy tsar and first
deputy prime minister, told reporters as he left
Beijing after the deal was signed that Russia
agreed to supply China with 300,000 barrels of
oil a day, for the next 20 years.
The deal, the largest trade financing agree-
ment between the two countries, alleviates the
severe refinancing needs of Russias two state
energy groups as they seek to weather the
credit crisis with the country facing its first re-
cession in 10 years. It will also provide China,
the worlds number two oil importer, with an im-
portant new secured supply of oil to fuel eco-
nomic growth.
Oil output from Talakan and Vankor, two big
new Siberian fields, is intended to fill the east-
bound pipeline being built by Transneft, which will
have a capacity of 600,000 barrels a day, and have
a spur to China as well as to a hub on the Pacific.
Valery Nesterov, energy analyst at Troika Di-
alog, estimated the pipeline monopoly would
need about $600m to build the spur to the Chi-
nese border.
-Financial Times, 18 February 2009, pg. 2
This report is nothing short of sensa-
tional. Russia, liberated under Gor-
bachev from collective Soviet communism,
now finds itself in the straight jacket of
economic freedom and needs a bailout
from communist China. Oil is the adhesive
that holds the industrial world together,
without which the worlds industry would
collapse. How much oil is left? No one re-
ally knows. Russia, by far the worlds
largest country at 17.07 million sq. km.
(USA 9.82 sq. km.) has resources no one
really knows about. Russias renewed
friendship with China draws the Far East to
the West, thus forging a more solid com-
mercially necessitated union. 3460
U S A
Worst Financial Crisis in Sixty Years
The current financial crisis was precipitated by a bubble in the
US housing market. In some ways it resembles other crises
that have occurred since the second world war at intervals
ranging from four to 10 years.
40 M I D N I G H T C A L L
However, there is a profound difference:
the current crisis marks the end of an
era of credit expansion based on the dollar as
the international reserve currency. The periodic
crises were part of a larger boom-bust process.
The current crisis is the culmination of a super-
boom that has lasted for more than 60 years.
Boom-bust processes usually revolve
around credit and always involve a bias or
misconception. This is usually a failure to rec-
ognize a reflexive, circular connection be-
tween the willingness to lend and the value of
the collateral.
That created a system of asymmetric in-
centives also known as moral hazard, which
encouraged ever-greater credit expansion. It
was so successful that people came to be-
lieve in what former US president Ronald
Reagan called the magic of the marketplace
and I call market fundamentalism.
But market fundamentalism emerged as
the dominant ideology in the 1980s, when fi-
nancial markets started to become globalized
and the US started to run a current account
deficit.
Globalization allowed the US to suck up
the savings of the rest of the world and con-
sume more than it produced. The US current
account deficit reached 6.2 percent of gross
national product in 2006. The financial markets
encouraged consumers to borrow by introduc-
ing ever more sophisticated instruments and
more generous terms.
Credit expansion must now be followed by a
period of contraction, because some of the new
credit instruments and practices are unsound
and unsustainable. The ability of the financial
authorities to stimulate the economy is con-
strained by the unwillingness of the rest of the
world to accumulate additional dollar reserves.
So the current financial crisis is less likely
to cause a global recession than a radical re-
alignment of the global economy, with a rela-
tive decline of the US and the rise of China
and other developing countries.
The danger is that the resulting political
tensions, including US protectionism, may
disrupt the global economy and plunge the
world into recession or worse.
-Financial Times, 16 December 2008, pg. 1
(originally published 22 January 2008)
This article was written by George
Soros, considered to be an expert in
global finances. Note the date, 22 Jan-
uary 2008. In the meantime, his predic-
tion of a recession has materialized,
not only in the United States, but also
in most countries of the world.
What next? The answer lies in more
regulation instead of deregulation. A
new global financial order has to be es-
tablished. It will weld the worlds fi-
nancial and commercial system into an
inseparable global unity.
Quite obviously, Americas heyday
of spending foreign money will come
to an end, and the dominance of the US
dollar will take a thrashing. With this
new alignment, the world is being pre-
pared for the final rulership of a one-
world government that will be capable
of exerting total control. 3465
W O R L D
Estonians Least Religious in the World
Five EU members figure among the worlds top 10 least religious
countries, with Estonia leading the list, a new poll has shown.
Address letters for publication to: Letters to the Editor, Midnight Call, P.O. Box 280008,
Columbia, SC 29228. Include full name, address, and daytime phone number. Without name
and address, letters will be discarded unread. All material is subject to editing. Midnight Call
assumes all publishing rights on letters sent to the Editor.
2020 Rapture?
I have a subscription to Midnight
Call magazine, and enjoy reading
each issue.
A few years ago, I came across a de-
scription of a vision in the Bible that
the prophet Esdras had, which ap-
pears to contain two Bible verses
which can be used to calculate the ex-
act year, give or take a few months,
when the Second Coming of Jesus
will take place. They are verses 45 and
46 in chapter 10 in the book II Es-
dras, in the Apocrypha. (The prophet
Esdras in the Apocrypha is the same
person as the prophet Ezra in the Old
Testament). The verses state that
3,000 years passed until King
Solomon built the city of Jerusalem,
and started making animal sacrifices.
There is a theory that 7,000 years
are allocated for mankind. Suppos-
edly, the creation of the world, or
some other significant event, took
place at the beginning of this time pe-
riod, and the Second Coming will
take place at the end of the first 6,000
years. Fundamentalist Christian the-
ologians generally agree that the
world was created approximately
4,000 B.C. (If this is true, then we are
very close to the end of the 6,000-year
time period).
King Solomon embarked on his
building campaign in the 10th cen-
tury B.C. This is approximately 3,000
years after 4,000 B.C. So, it seems that
the point in time from which 3,000
years are counted out is the time of
the supposed creation of the world. If
this is true, then we know that the
midpoint of the 6,000 years is in the
10th century B.C. So, we can calculate
when the endpoint of the 6,000 years
MAY 2009 43
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44 M I D N I G H T C A L L
LETTERS TO THE EDI TOR