A bulge in a high wall

A bulge in a high wall
By Rod King

The third week of September 2008 may well prove to have been the axis of the shift from an American/Anglo centre of world financial influence to one centred on the sovereign funds of the Middle East and China. New powers are rising around the world. A resurgent Russia and a dynamic India are vying with Europe and China for their “place in the sun.”

The American government’s response to the imminent collapse of the insurance giant AIG may have been the best for them, but what signal does it send to the markets? The message is simple: “You can break all the rules of prudent financial management, and can pay yourself a high salary and bonuses but you do not have to ‘pay the piper’ when it falls apart.”

Whatever happened to sound business practice? It appears that the ethics of fair and honest trading have been flayed and shredded for all to see. Shareholders in the affected banks and large financial institutions do not see or hear the crying children being evicted from their homes. They do not feel their heartache. But God does.

“Woe to those who … rob the needy of justice … that widows may be their prey, and that they may rob the fatherless” (Isaiah 10:1, 2).

God is watching, and His word describes the sins of the descendants of the ancient House of Jacob. Bible prophecy identifies Jacob’s modern descendants as the United States and the British-descended peoples.

Isaiah wrote about a sinful nation, and warned of what would happen in the last days: “Therefore thus says the Holy One of Israel: ‘Because you despise this word, and trust in oppression and perversity, and rely on them, therefore this iniquity shall be to you like a breach ready to fall, a bulge in a high wall, whose breaking comes suddenly, in an instant” (Isaiah 30:12-13).

God likens the sins of our people to the swirling, muddy waters of a flood damming up behind a wall. Though we rush to build the wall higher, the inevitable will come – “in an instant.” We are told that God will “break it like the breaking of the potter’s vessel, which is broken in pieces; He shall not spare” (v. 14).

The accounting practices of too many banks and financial institutions have relied on “oppression and perversity.” Harsh repossession orders have brought foreclosures on tens of thousands of Americans who have faithfully paid their monthly mortgages for years. Without mercy, and with impunity, some banks have evicted the customers on whom they had poured out cheap “sub-prime” money.

Treasury Secretary Henry M. Paulson’s efforts to save the world’s largest insurance company (along with Fannie Mae and Freddie Mac) may delay the inevitable, but God’s word tells us a day of reckoning is coming. The financial dam "high wall" is ready to burst.

What can we do to escape the horrible time that is prophesied to come upon the English-speaking peoples of the world? Firstly, we should be doing what we can to reduce our debt. Living within our means is not easy when the swipe of a credit card seems to be the answer. Downsizing our house or car may be necessary to bring about a realistic reflection of where we really stand financially.

Secondly, we need to put our finances in God’s hands. Make Him your silent business partner. If you have not discovered the principle of biblical tithing, you may want to request our booklet, God’s People Tithe. This free publication will explain how God protects His people when they commit their financial future into His hands. You will be glad you ordered this booklet. Request your copy now!