Somewhere in my library I still have a copy of The Economist magazine from the late 1980s that states on the cover “Get Ready For A World Currency.”
Many economists around the world no longer trust that the dollar will remain stable and therefore wish to unpeg their currencies to it. There are over twenty countries which are not members of the EU yet link their nation’s currencies to the Euro, not the USD. As a result of binding themselves to the Euro, they have lowered inflation, increased trade, and have easier access to capital. These countries have also lowered their exchange rate risk.
The Euro is becoming, or attempting to become, the new gold standard. It should not surprise us if America pegs the USD to the Euro five years or more from now in order to avert an inflation crisis. Stranger things have happened to other countries. Why do some Americans believe we are immune to the same fate that has befallen other great world powers?
Why do Americans believe they will remain a Super Power when no other country on earth has ever remained in that position forever? We can rise and fall like the other great powers: Greece, Rome, Britain, the Ottomans, the Hapsburgs, the Tsars, France, Japan, Germany, and all the others.
We should be thankful that God chose America to be a great nation, even if for only a few hundred years.
The Scripture teaches that God has an eternal plan and that He is in control of every circumstance of life, including the rise and fall of great nations:
As for you, ye meant evil against me, but God meant it for good (Genesis 50:20).
I form the light, and create darkness: I make peace, and create calamity: I am Jehovah that doeth all these things (Is. 45:7).
Shall calamity befall a city and Jehovah hath not done it? (Amos 3:6)
Remember the former things of old; for I am God. and there is none else; I am God and there is none like me; declaring the end from the beginning, and from ancient times things that are not yet done, saying, My counsel shall stand, and I will do all my pleasure . . . . yea, I have spoken; I will also bring It to pass; I have purposed, I will also do it (Is. 46:9-11).
He changeth the times and the seasons; He removeth kings, and setteth up kings (Dan. 2:21).
Jehovah bringeth the counsel of the nations to naught; He maketh the thoughts of the people to be of none effect (Psalm 33:10).
For, lo, I raise up the Chaldeans, that bitter and hasty nation, that march through the breadth of the earth, to possess dwelling places that are not theirs (Hab. 1:6).
The king’s heart is in the hand of Jehovah as the watercourses; He turneth it whithersoever He will (Prov. 21:1).
A man’s heart deviseth his way, but the Lord directeth his steps (Prov. 16:9).
For we ought to say, if the Lord will, we shall both live, and do this or that (James 4:15).
For of a truth in this city against thy holy servant Jesus, whom thou didst anoint, both Herod and Pontius Pilate, and the Gentiles and the people of Israel, were gathered together, to do whatsoever thy hand and thy counsel foreordained to come to pass (Acts 4:27-28).
Jesus answered him (Pilate), Thou wouldst have no power against me, except it were given thee from above (John 19:11).
And I, behold I will harden the hearts of the Egyptians and they shall go in (the Red Sea) after them; and I will get me honor upon Pharaoh, and upon all his host, and upon his chariots, and upon his horsemen (Ex. 14:17).
A related topic: The EU elected Herman Van Rompuy as President. Tony Blair was at one time a contender for the position.