In my last article I began by giving you the first five points (out of ten) of what I am guess an economic collapse will be like, which will be caused by the Rapture of the church. Those five points were…
- Personal and business loss.
- Tax revenue loss.
- Hoarding of necessities.
- Collapse of the insurance industry.
- Stock market crash.
Here are the next five points in this economic collapse as I see it:
6. Bank freeze. As people all over the world realize what is going on with the economy, they will run to their banks seeking to grab what they can of their hard earned cash. In response major financial institutions will put a freeze on most or all banking transactions, including credit card transactions.
7. Unemployment. Due to the bank freeze, employers of businesses will be unable to make bank transactions to pay their employees. Consequently, most businesses will be forced to either go out of business or greatly reduce their work force, causing many to be unemployed.
8. Unemployment insurance companies will go bankrupt. With millions out of a job, unemployment claims will skyrocket. This of course will cause the unemployment industry to go bankrupt, leaving most people without money to pay their bills or even survive.
9. Inflation. When people realize that their hard earned wealth is about to evaporate, they will take drastic measures to prevent it. Those who own stores and businesses will jack their prices for goods and services way up, just to stay in business. Gas lines and rationing will be as it was in the 1970. But it will get worse, much worse. Soon, as Revelation 6:6 indicates, a loaf of bread will cost as much as a day’s pay.
10. The dollar collapse. As the financial condition in the United States reaches a new low, causing debt to grow faster than the economy, if foreign creditors are not being paid, nations around the world will abandon the dollar, concluding that it no longer has value.
Peter Garcia, who wrote an article in the Omega Letter, entitled, “A View of Life after the Rapture,” wrote,
By the end of the 7th-8th week [after the Rapture], all basic goods such as fuel, food, hygiene, and medical products will have been stripped from stores and hoarded. The US Dollar will no longer be sufficient for payment, as nations around the world abandon the Dollar wholesale, and people will have to resort to either bartering or taking things by force. The Dollar’s collapse will have a destabilizing effect on all nations, but those nations in particular who relied heavily on the US Dollar, will be hit the hardest.51
We can’t be certain of the timing of such collapses. We can only guess. However, if things seem to regress as we have indicated, it is logical that world leaders will get together and seek a global solution, including a global currency and economy.
51 Pete Garcia, “View of Life after the Rapture,” at http://www.omegaletter.com/articles/articles.asp?ArticleID=7709