THE US-EU PARTNERSHIP
Of the “latter day” nations mentioned in the Scriptures, America receives no direct citation, except possibly in two passages. For those who live during America’s present era of prosperity and strength, this fact is puzzling. Some experts solve this puzzle by teaching that America is Babylon, and Jeremiah foretells its destruction. Babylon represents the European Union.
Given that the Union becomes the most powerful world empire to ever exist, the United States must lose its sole superpower status in the interim. Since the entire world worships the Beast, it is safe to conclude that the US will remain in a strong alliance with the EU.
America is the daughter country of its mother Europe. Without America, the EU would never have united. The unified Europe of 1992 evolved, perhaps inevitably, from the Marshall Plan. American leaders of the postwar period believed that a strong, independent Europe stood in the best long-term interest of the United States. The US supplied Europe with the funds to rebuild itself, and even provided for its defense against Communist forces in postwar Europe.
Since the 1950s, the United States has consistently supported the Union’s development. A stronger and more united Europe can share the burden of global responsibilities. Conservative President Ronald Reagan stated to the European Parliament in 1985: “We continue to see a strong and unified Europe not as a rival, but as an ever stronger partner.” The Bush Sr. Administration gave greater priority to improving ties with the Union than any previous American administration. Former President Bush Sr. stated that “a stronger Europe, a more united Europe, is good for my country, and it is a development to be welcomed, a natural evolution with an alliance, the product of true partnership, 40 years in the making.”
Bush viewed Europe as “a partner in world leadership.” He stated that he believed that a strong, united Europe meant a strong America. George Bush’s administration upgraded the diplomatic status of the EU Commission in Washington. President Bush strongly supported the Common Market. He urged the EU to continue with intense efforts towards European Unity.
After the fall of the Berlin Wall, the European Union became the “cornerstone” for the new European architecture. These changes strengthened the EU’s desire to speed unification and assume its newfound role as a political leader. The US encouraged such a role as a major step toward the kind of global “burden sharing” it has long urged upon its European allies. Former US Secretary of State James Baker proposed “that the United States and the European Union work together to achieve, whether in treaty or some other form, a significantly strengthened set of institutional and consultative links.” Baker believed that since the US and EU shared common ideals and values, and both faced the same challenges in economics, foreign policy, and a host of other fields, it was a matter of common course for both governments to work together.
The EU is America’s most important trading partner. Their combined GDP is around 60% of the world total while they constitute only around 10% of the world’s population. Together they account for 40% all world trade. They form the largest trading partnership in the world. The political, economic, and corporate links between the two are broad and deep. Even more important is their cumulative mutual investment stake in each other’s economy.
Europe’s investment in the US represents 75% of all European investment abroad and roughly 60% for all foreign direct investment in the United States. By 2001, the US investment stake in Europe grew to roughly half of all US investment abroad, and in 2001, this investment yielded half of all foreign earnings for US companies. Each has a significant stake in the prosperity of the other. For this reason former EU Commission President Jacques Delors called for a new and profound partnership between the EU and the United States.
THE US-EU PARTNERSHIP
An EU Economic Affairs Commissioner in the 1990’s made it clear that a stronger and larger EU would be in the best interest of the US. According to the Commissioner, by the end of the 1990s, Europe would be a political and economic entity with a crucial role, as a major engine of the world economy and as a stabilizing factor in world affairs. He believed that it was in America’s best interest that this evolution continues with as little friction as possible. He assumed the US would lend this process its full moral and political force. The EU’s new role will present the US with a challenge. Experts believe that the American ability to influence the policies of the European Union will decline.
Former President Clinton noted that he felt more favorably than his predecessors about “European Unity and…the European defense capacity to greater strength and unity within Europe.” He labeled Germany as the leader of Europe, and as the privileged partner of the US. Clinton viewed the Union as “America’s most valued partner in trade and investment.” He believed that a “strong and more unified Europe makes for a more effective economic and political partner.”
The Trans-Atlantic Declaration
In 1990, the US and EU agreed to strengthen their relations, when both sides signed the “Trans-Atlantic Declaration.” The US President and the Presidents of the European Council and EU Commission agreed to meet twice a year, and the US-EU relationship continues to evolve. At each summit, the EU and US set further goals for cooperation and joint action.
In 1995, the US and EU agreed to work together in promoting peace and democracy worldwide. Issues on their agenda are international crime, drug trafficking, terrorism, refuge problems, environmental damage, and the spread of infectious diseases. They also pledged to support the Middle East peace process, and to commit to developing a full and equal partnership. Initially, leaders met to create the world’s largest free trade zone. Instead, defense and social issues came to the forefront.
In 1997, the EU and US intensified their cooperation on key foreign policy issues, and made progress in issues of world trade and other global concerns. They signed the “Science and Technology and Cooperation Agreement,” which promotes closer cooperation between EU and US scientists and scientific institutions.
In 1998, the EU and US turned their attention to the new trans-Atlantic marketplace, after recognizing that they shared the world’s largest and most complex economic relationship (each accounting for half of the other’s foreign investment abroad), and that the prosperity of their populations intertwined. They decided that it was their task to work together to maintain open markets, and sustain the momentum of liberalization. They agreed to pursue their objectives together through the World Trade Organization, and renewed their commitment to political and economic support of the Middle East peace process. The EU and the US launched the Transatlantic Economic Partnership (TEP) at the London summit in May 1998.
In 1999, the EU and US added small arms and light weapons control to their agenda, and agreed that the destabilizing accumulation and spread of such weapons demanded the urgent attention of the international community. In the Bonn Declaration adopted at the 1999 EU-US summit in Bonn, both sides committed themselves to a “full and equal partnership” in economic, political and security affairs.
The next year, the EU and US agreed to work on accelerated action to combat AIDS in Africa, and continued to discuss the development of their joint role as peacekeepers. They committed to the construction of a new European Security Architecture in which NATO, the EU, the Western European Union (WEU), the Organization for Security and Cooperation in Europe (OSCE), and the Council of Europe would have complementary and mutually reinforcing roles to play.
At their 2001 summit, the EU and US discussed how they might use their partnership to solve trade disputes, and to promote peace and stability throughout the world. The US welcomed the efforts of the EU to acquire a civilian and military crisis management capability, which would reinforce the Union’s ability to contribute to international peace. They also agreed to strengthen and revitalize the UN. In May of 2002, the EU and US held a Quartet meeting that also included the UN and Russian Federation, to work jointly in support of a secure and lasting peace in the Middle East.
At the 2007 EU-US summit, leaders formed the Transatlantic Economic Integration Framework, creating the Transatlantic Economic Council (TEC). In the economic area the EU and the US mostly work
together within the framework of the Transatlantic Economic Partnership and under the multilateral umbrella of the WTO. They conducted a number of dialogues. The transatlantic business dialogue, a transatlantic labor dialogue, a consumer dialogue, an environmental dialogue and also the European Parliament/US Congress and Senate legislative dialogue. Other important projects such as the EU Centers in the US are also included under this chapter.
The European Union and the United States are the two largest economies in the world. They account together for about half the entire world economy. The EU and the US have also the biggest bilateral trading and investment relationship. Transatlantic flows of trade and investment amount to around $1 billion a day, and, jointly, their global trade accounts for almost 40% of world trade. With so much invested in each other’s economies the ties between both continents so deep their partnership will only continue to deepen. 
The EU-US partnership does not imply that all leaders and political experts view the EU as an entity of light. Conservative spokespersons such as Pat Buchanan, and magazines of conservative thought and opinion such as National Review, speak out against a federal united Europe. Their views reflect Thatcher’s position against bureaucratic centralism or a superstate that will rule all of Europe.
The Decline Of The US
With the rise of the EU to world empire status one cannot help but ask of the US’s position and standing alongside this final power. As the EU rises to superpower status, the role of the US will decline. Some say this decline has already begun. Jacques Attali, the former president of the Bank for Reconstruction and Development, referred to Bush’s victory in the Gulf War as the “last hurrah of a weakening global power.” The US’s influence is declining and America is eroding from within. Drugs and crime, are rampant. Its families are falling apart, and its educational system produces
test scores at an all-time low. According to a writer for the Academy of Political Science: “It has become cliché to say that unsatisfactory economic performance is undermining the United States’ global leadership position. The budget deficit, trade deficit, and the need to finance these deficits with a large inflow of foreign capital into the United States have seriously weakened the American claim to global economic leadership—and possibly to political leadership as well.” This deficit exploded with the onset of the Great Recession.
The dollar is no longer the world’s most stable currency. It has become a source of uncertainty and instability in the world economy. The US debt burden is so great that at the time of the fall of the Berlin Wall, aid to Eastern Europe on the scale of the Marshall Plan had become impossible. EU countries led by Germany made the main contributions.
America’s economic position will decline further as Asia and Europe continue to grow more rapidly than the US. Zbigniew Brzezinski commented in the last decade: “Unless America pays more attention to its domestic weaknesses, a new global pecking order could emerge early in the next century, in the event that a unifying Europe and an economically dynamic Japan were to assume large political and military responsibilities.” In the Gulf War, the US had to rely on the political and financial support of other countries. A New York Times editorial stated: “Superpowers can afford to pay for their own wars; we cannot.” Some experts argue that the United States needs a new vision of its role in the world, and that it will have less and less influence in world affairs.
Walter Russell Mead, senior fellow for international economics of the World Policy Institute, cited events that prove America’s decline and the erosion of its influence. He stated:
The East European countries decided to link their new trading regime to the European monetary system, rather than to the dollar. Sweden… took the dollar out of the basket of currencies against which the Kroner would float and based its value directly to EC currencies. Poland, too, downgraded the dollar.
The formerly Communist countries…It was to Bonn first and to Brussels second that they would turn for assistance, guidance, and models of economic and political behavior. …For the first time, prominent European financial and political leaders could be heard to say that Washington was a nonentity.
… Jacques Atali, head of the European Bank for Reconstruction and development, spoke dismissively of the United States as a failed nation; he argued that the great struggle of the future would be the battle between Europe and Japan for the global leadership that Washington had already and irretrievably lost.
The Europeans are creating a new Europe centered on the EU. They do not see the US as a partner in this process. In the early 1990’s commentators such as Lionel Barber, the editor of the Financial Times who then served as the Washington correspondent for the newspaper, commented: “Plenty of signs indicate that the United States will find it difficult to adjust to the ‘New World Order’ in which Washington’s leadership is open to challenge.” It was speculated that “the US will be a major player in the world economy but not a dominant one, and that it will achieve its goals only as part of a consensus with other countries.”
At the same time, Dominique Moisi, who was acting as the Associate Director of the Institute Français Des Relations Internationales, predicted: “The American Century is coming to an end. The United States will undoubtedly remain the strongest power in the community of North Atlantic democracies, but its days as a hegemonic and sole protective power for Europe are counted.” Mr. Moisi believes that “it is unlikely even that the twenty-first century will be dubbed, like the twentieth, the American Century.” Mr. Moisi stated: “The US has neither the desire nor the means to recapture that privileged moment it experienced after the Second World War. We are witnessing a transitional stage in the international system.…The role of the US will remain crucial, but it will stand alongside the other powers, and will no longer be alone in its category.”
The US’s position further deteriorated the first decade of the millennium. Since the millennium, the United States has fought two wars and funded the disasters left behind from the devastating hurricanes which included hurricane Katrina, which nearly sunk New Orleans. In addition the US funded the bailout for the Great Recession. The US deficit is now in the trillions. In 2009 the US deficit reached 12.3 % of the nation’s GDP.  The Financial Crisis which started with the US subprime mortgage market caused a domino effect around the globe and the loss of confidence of global powers in the US Financial system. From the BBC to the Financial Times, leading news services quoted experts who said that the US’s role as the leading superpower changed and would not be the sameafter the financial crisis. That the world was now multipolar with the emergence of better capitalized centers in Asia and Europe.
Former Belgian Prime Minister and EU Parliamentarian Guy Verhofstadt, summed up perfectly in his essay, “The Financial Crisis – Three Ways Out for Europe:”
The economic downturn in the West, and particularly the United States, will undoubtedly also cast a shadow over the former’s political dominance in the world. Not that this dominance will suddenly collapse: the power of the US, in particular, is too great and too multifaceted for that. Put another way, America’s absolute power will remain huge into the near future, but its relative power will crumble, thereby shifting the balance of power. For whereas the weight of other nations and blocks (China, India, Russia, Brazil, etc.) is increasing that of the United States has quite clearly reached its peak. 
The dollar’s decline is causing alarm for many countries that peg their currencies to the dollar and for countries that hold sizeable positions of US assets. Financial experts are questioning the dollar’s status as a global reserve currency. In addition no one knows the long term results of President Obama’s bailout plan, or the possible consequences of the US printing more money to fund the bail out. Quantitative easing i.e. the printing of money, if not done properly can destroy an economy by causing inflation and devaluing its currency. The policy destroyed the nation of Zimbabwe. 
The aftermath of the Great Recession will change the global pecking order and the US will lose its position as the leading nation in the world. The BBC reported in 2008, that “the US Superpower Status is Shaken.”
They quoted political philosopher John Gray and former professor at the London School of Economics as writing in the London paper, The Observer:
Here is a historic geopolitical shift, in which the balance of power in the world is being altered irrevocably…The era of American global leadership, reaching back to the Second World War, is over…The American free-market creed has self-destructed while countries that retained overall control of markets have been vindicated…In a change as far-reaching in its implications as the fall of the Soviet Union, an entire model of government and the economy has collapsed…How symbolic that Chinese astronauts take a spacewalk while the US Treasury Secretary is on his knees.”
Even the Financial Times, the world’s leading financial newspaper reported that “the US will lose its role as a global financial “superpower” in the wake of the financial crisis. The article quoted German finance minister Peer Steinbruck as blaming Washington for failing to take the regulatory steps that might have prevented the crisis. He stated: “The US will lose its status as the superpower of the world financial system. This world will become multipolar with the emergence of stronger, better capitalized centers in Asia and Europe, the world will never be the same again…if we look back 10 years from now, we will see 2008 as a fundamental rupture.”
Director of National Intelligence, Dennis Blair, told Congress that instability in countries around the world caused by the global economic crisis and its geopolitical implications, rather than terrorism, is the primary near-term security threat to the United States.
Paul Craig Roberts who was Assistant Secretary of the Treasury in the Reagan administration and Assistant Editor of the Wall Street Journal summarized the US economy in his article, “The Dollar’s Reserve Currency Role is Drawing to an End,” and commented that the US’s economic profile is that of a third world economy. According to Mr. Roberts: “If the US government cannot balance its budget by cutting its spending or by raising taxes, the day when it can no longer borrow will see the government paying its bills by printing money like a third world banana republic.
Inflation and more exchange rate depreciation will be the order of the day.”
If all of this is not bleak enough, Fred Bergstein, the Director of the economic think-tank The Peterson Institute, wrote in Foreign Affairs:
The Peterson Institute for International Economics projects that the international economic position of the United States is likely to deteriorate enormously as a result, with the current account deficit rising from a previous record of six percent of GDP to over 15 percent (more than $5 trillion annually) by 2030 and net debt climbing from $3.5 trillion today to $50 trillion (the equivalent of 140 percent of GDP and more than 700 percent of exports) by 2030. The United States would then be transferring a full seven percent ($2.5 trillion) of its entire economic output to foreigners every year in order to service its external debt.
The Rise of the Almighty Euro and The Fall of the Dollar
The Great Recession prompted by the financial crisis and America’s enormous deficit is affecting America’s greatest asset: the US Dollar. The US dollar has been the most widely held currency in the world and it stood as symbol of US strength and prosperity. It is the world’s reserve or anchor currency, this means that many governments and institutions used the dollar as part of their foreign exchange reserves. This number totaled about two thirds of the allocated reserves. The dollar became the international pricing currency for products traded on the global market such as oil and gold. This allowed the US to purchase the commodities at a marginally lower rate than other nations and to borrow at a better rate because there existed such a large market for the dollar. This allowed the US to run its high trade deficits and greatly postponed the economic impact. The dollar has been losing its role as the reserve currency and as Mr. Roberts noted above, “The Dollar’s Reserve Currency Role is Drawing to an End.” The dollar’s loss of its reserve status will have terrible effects on the US economy.
If the dollar loses it status of reserve currency, the US as we know it will be no more. According to financial guru Michael Murphy:
The US government will have less economic leeway to deal with the current financial mess, because excess Federal debt creation will lead immediately to a lower dollar and higher imported inflation. Longer term, the government will have to find another way to pay its debts than just selling Treasuries to the Fed. Most likely, they will have no choice. The price of gold and silver will go up as they are used more as a currency asset, competitive with the world and regional currencies. The price of oil and all other internationally traded commodities will go up in most currencies, and go up a lot in US dollars. American lifestyles and financial habits will be forced to change radically in a world where we have to pay as we go. Longer term, economic power and wealth will shift from the West to the East and, to a lesser extent, the Middle East. The US government will have no choice
but to tax US citizens and businesses more heavily.
While the US dollar erodes, the euro since its launch in 1999 has risen to become the second largest currency holding of foreign reserves.
As early as 2007 Alan Greenspan was quoted in a weekly German magazine Stern saying it was “absolutely conceivable that the euro will replace the dollar as the dominate foreign reserve currency, or will be traded as an equally important reserve currency.” According to Vanessa Cross a business writer, who wrote “Can the Euro Replace Dollar as Dominate Foreign Reserve Currency,” in supporting her view she quoted econometric analysis by Jeffrey Frankel and Menzie Chinn who indicated that the euro could replace the US dollar as the major reserve currency by 2020 if the dollar continued to depreciate and if the UK adopted the euro by 2020. She also noted the so-called BRIC nations – Brazil, Russia, India, and China – demanding the establishment of an international currency and for the dollar’s replacement as the world’s benchmark currency. China suggested that a new currency reserve system controlled by the International Monetary Fund (IMF) would be more stable. 
In September of 2009, the UN followed China and Russia and called for a new global currency to replace the dollar. The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent. Also in September of 2009, The New York Times reported that Robert Zoelick president of the World Bank came out and said that America’s days as an unchallenged economic superpower might benumbered and that the dollar was likely to lose its favored position as the euro and the Chinese renminbi assumed bigger roles. He added that the euro provided a “respectable alternative” for financing international transactions and that there was “every reason to believe that the euro’s acceptability could grow.” 
According to former Federal Reserve Chairman Alan Greenspan the dollar no longer had much of a lead over the euro, he said, adding that the European Central Bank had “developed into a global economic force to be taken seriously.”
Ambassador Guenter Burghardt, Head of the Delegation of the European Commission to the United States, noted in a speech to the Federal Reserve Bank in Atlanta Georgia, in as early as 2003, that “the euro has established itself as the second-most important currency after the US dollar on the world’s financial markets.” He noted that in 2003 the outstanding amount of bonds and notes in euros increased to 41% compared to the US’s 43%, and the euro’s money market instruments rose to almost 46%. Also by 2003 over 50 countries operated and managed exchange-rate arrangements that include the euro as a reference.
Meanwhile banks around the world such as the Central Bank of Russia, the Bank of Canada, central banks in Asia, Taiwan, Singapore and China have increased their euro holdings. He added that “the European Central Bank itself contributes to the prevailing role of the US currency as the official reserve currency.” Mr. Burghardt also pointed out in that speech that:
This enhanced profile in the monetary sphere has not yet translated into an appropriate external representation of the euro area. Despite the fact that the euro area today is the largest trading partner, main aid donor and second largest GDP
producer in the world, its influence in the shaping of global economic decisions does not yet correspond to those capabilities. To borrow and American analogy, we are punching far below our weight. 
We know from Scripture and in reviewing the climate within the EU that the day is coming when the EU will assert itself on the world stage. The Secretary General of the Union of European Federalists, Joan-Marc Simon reiterated and summarized what European think-tanks and leaders have been stating when she wrote:
The 20th century has seen the rise and consolidation of the US as the world superpower which has been interlinked with the establishment of the dollar as the world currency. The current economic crisis, with the US decline and the emergence of new world powers, is leading towards a multipolar world and this will result in a new world monetary order which will re-shape economics, internal policies and international relations for years to come. During the last decades the US has been exploiting the condition of the dollar as a reserve currency to run colossal deficits in its trade and current-accounts with which it has financed its economy and has managed to keep its status of the world superpower. This time it looks like the dollar domination is over and during next years most probably we will assist to the birth of a new monetary world order.
There are other variables that will also come into play such as the European Central Bank greatly reducing its dollar holdings, and other nations that will join the euro increasing its strength. When the dollar ceases to be the world reserve currency, this will officially mark the end of the US as the leading superpower. The economic impact will once again effect the global marketplace.
Spain’s former Secretary of State of Economy and Secretary General of Commerce, Guillermo de la Dehesa wrote an article questioning if the euro will ever replace the dollar as the reserve currency. He pointed out that if the UK joined the euro, given London’s position as one of the world’s two leading financial markets both in Euros and US Dollars, and because it has the EU’s second largest GDP after Germany, this would provide a major boost to the euro. He stated that the EU’s present union is a handicap because the EU is not an actual federal state but a union of independent nations. We know from Scripture this will change especially when the Union moves forward with its political core of members.
The Next Superpower
Ironically, in the early 1990’s, the US became concerned that Japan would become a dominant power that would undermine the economic security of the US and Europe by the middle of the next century. A CIA report stated: “Japan is a fundamentally amoral society that will dominate the world through its economic power.” At the time, The Economist stated that “while Americans fret over whether Japan will overtake them as an economic power, Uncle Sam is more likely to be knocked off his pedestal by the European Community.” The article pointed out that the EU’s population is a third larger than America’s, and that the EU, taken as a whole, is the world’s biggest exporter. Where America will take its biggest knock is at the IMF and the World Bank. Under institutional rules, the headquarters of these institutions are located in the territory of the member nation with the biggest quota. The headquarters will one day move from Washington to Brussels and The EU will have the dominant role in world economic management under the Antichrist.
European leaders have spoken out against Pax Americana, the American determination to enforce a worldwide peace. They observe that the UN and Europe could counterbalance what they view as the imperial outreach of the US. Europe will go beyond counterbalancing the US; it will be aiding the US’s economy through its policies. America views the Common Market as a bolster to the US economy. America, who once shouldered the world’s problems, views a burden-sharing Europe as a benefit. The European Union will grow above and beyond the expectation of any American administration. It will rise to superpower status and evolve into the most powerful dictatorship that ever existed.
America’s Last Stand
When the dollar officially collapses and we know this crash will happen, and when its effects ripple around the globe, the crisis will provide the Antichrist with the perfect platform to enact solutions that will bring the EU prosperity along with the nations of the world. As US President Obama shaped and instituted policy to help remedy the Great Recession, the Antichrist will do the same, only Scripture tells us that his policies succeed. During America’s broken condition, the EU will have opportunity to rise to its forecasted position of the greatest political power to ever have existed.
The Antichrist will bring the world back on financial tract and global economies will experience prosperity in the same way that Adolph Hitler brought wealth to Germany in his first few years of power. A writer stated that if Adolph Hitler died three years after gaining the chancellorship in Germany, history would have recorded him as Germany’s greatest chancellor. It will be exactly the same with the Antichrist.
Once the Antichrist signs the peace treaty with Israel, about three and a half years afterwards, he places the abomination of desolation in the Jewish Temple. At this time, his evil, diabolical side surfaces and the nations react. The destruction of the EU (Babylon) occurs just before the Battle of Armageddon. Rumors from the east and north trouble the Antichrist. He then sets out to conquer many nations, and he establishes himself in Jerusalem.
A people from the north and a great nation will come to destroy the land of Babylon (Jeremiah 4:6-7, Daniel 11:40, 45). This great nation may be the US, which unites with the Soviet Union to destroy the European Union. Jeremiah reiterates this, and tells us that the great nation is from the farthest parts of the earth (Jer. 6:22). After destroying Babylon (Europe), they come to take Jerusalem, which the Antichrist controls. China follows. Jeremiah 5:15-16 states: “Behold, I will bring a nation against you from afar, O house of Israel, says the Lord: it is a mighty nation, it is an ancient nation, a nation whose language you do not know, nor can you understand what they say. Their quiver is like an open tomb, they are all mighty men.”
The US position in the world will continue to decline as the EU rises to superpower status. When the EU becomes the final world empire, the US will remain a strong nation, though not a lone superpower. After the dollar’s fall, America’s prosperity will result from the Antichrist’s solutions. The US will endorse EU policy and support the Antichrist until near the end of the Tribulation. When the US discovers the Antichrist’s true colors and takes action, the nation will aid in carrying out Biblical prophecy. Fulfilling Babylon’s judgment, the US will launch an attack on Europe. From there, the US will join the world’s armies at the Battle of Armageddon. The US is a very trusting nation, and places great faith in its allies, especially in Europe. Their ties reach far and go deep. This reliance and the US’s weakened position will prevent the US from taking action until it is too late.
A View to the Past
It was American armed forces who claimed the victory at the end of World War II and undertook the task of rebuilding Europe. The Soviet Union, which lay on Western Europe’s borders, threatened to spread Communism to the ends of the earth. The Cold War between communism and Western democracy began, and global stability depended heavily on the United States. No country possessed America’s combination of military power, wealth, and political authority. The US supplied Europe with the funds to rebuild itself, and even provided for its defense against Communist forces in postwar Europe.
The US will never view the EU as a future military threat, or as the potential cause of war and conflict. America will follow the Antichrist blindly, just as the nation has endorsed other dictators throughout its history. In part, its blindness will be a symptom of its own internal problems. A lack of effective US leadership will also be responsible.
Many skeptics view the EU as an economic grouping with too many differences to ever amount to anything politically. Others blinded by the Antichrist himself, will believe in his solutions for the world’s ills. The rest will not care about world events while absorbed in their own personal lives, and will have no inkling that God’s judgments are about to be unleashed upon the world. By the time America realizes the depravity of the Antichrist and takes action, the armies of the world will be on the road to Armageddon.
- The European Community Pamphlet, EC Information Service, Washington, D.C. Robert S. Guttman, “Letter from the Editor,” Europe, April 1990, p. 8. Robert D. Hormats, “Redefining Europe and the Atlantic Link,” Foreign Affairs, Fall 1989, p. 75. Axel Krause, “What Ever Happened to Bush’s Europhoria?” European Affairs, June/July 1991, p. 45.
- Reginald Dale, “December a Month of Diplomatic Activity,” Europe, January/February 1990, pp. 35-37. “European Union a Call for US Support” and “Quotes,” Eurocom, May 1991.see also Bertrand Benoit, “US ‘will loose financial superpower status,’ Reuters, September 25, 2008, http://uk.reuters.com/article/idUKLNE48O02G20080925
- Horst Krenzler, “Toward Healthy and Open World Markets,” Europe, December 1989, p. 16. Keith M. Rockwell, “On the Way Up,” Europe, p. 68. “A New Europe, A New Atlanticism: Architecture for a New Era,” Address by Secretary of State James Baker, III, to the Berlin Press Club, Stegenberger Hotel, Berlin, Tuesday, 12 December, 1989.
- Carola Kaps, “Delors Proposes New Partnership with US” Europe, July/August 1989, p. 14.
- “EU-Clinton,” Associated Press, 3 December 1995. See also “US Sign Covenant for Tranatlantic Relations,” Reuters, 3 December 1995. “Clinton Meets with EU Leaders in Brussels,” Eurocom Bulletin, January 1994, p. 1. The European Press Survey, vol. 1, issue 13, 27 July-August 1994.
- The Council of the European Union, Brussels, “2009 EU-US Summit Declaration” November 4, 2009
- Leon T. Hadar, “United States, Europe, and Middle East Hegemony,” World Policy Journal, Summer 1991, p. 447.
- Stephen Cooney, “The Impact of 1992: The New Europe: Revolution in East-West Relations,” New York: Academy of Political Science, vol. 38, no. 1, 1991, p. 185.
- C. Fred Bergsten, “The World Economy after the Cold War,” Foreign Affairs, vol. 69, no. 3, Summer 1990, pp. 96-97. Zbigniew Brzezinski, “Selective Global Commitment,” Foreign Affairs, vol. 70, no. 3, Fal 1991, pp. 18-19.
- James Chase, “The Pentagon’s Superpower Fantasy,” New York Times, 16 March, 1992.
- Walter Russell Mead, “Saul Amongst the Prophets: The Bush Administration and the New World Order,” World Policy Journal, Summer 1991, pp. 407-409.
- Lionel Barber, “The View From America,” Europe, December 1990, p. 20.
- Robert D. Hormats, Europe Magazine, November 1991, p. 27.
- Dominique Moisi, “The US: An Anchor for Wary Europeans,” European Affairs, December 1991. See also Dominique Moisi, “Europe is Coming of Age,” European.
- Edward Hugh, “US Fiscal Deficit Projected at 12.3% of GDP in 2009,” “FistfulofEuros,”February 26, 2009, http://fistfulofeuros.net/afoe/economics-and-demography/us-fiscal-deficit-projected-at-123-of-gdp-in-2009/ Wikipedia contributors, “List of countries by current account balance,” Wikipedia, The Free Encyclopedia, http://en.wikipedia.org/w/index.php?title=List_of_countries_by_current_account_balance&oldid=320301145 (accessed November 20, 2009)
- Op. Cit. The Financial Crisis: Three Ways Out for Europe Guy Verhofstadt
Jeff Unger, “US No Longer Superpower, Now a Besieged Global Power, Scholars Say,” May 8, 2008, http://news.illinois.edu/NEWS/08/0508superpower.html
- Brad Bishop, “Quantative Easing and the US Dollar: Friends or Foes? Cayman Financial Review, October 5, 2009,http://www.compasscayman.com/cfr/cfr.aspx?id=6885
- Paul Reynolds, “US Superpower Status is Shaken,” BBC News, October 1, 2008, http://news.bbc.co.uk/2/hi/business/7645743.stm
- Op. Cit. Bertrand Benoit, “US ‘will loose financial superpower status, Financial Times, September 25, 2008 (accessed December 5,2009),Jeff Unger, “US No Longer Superpower, Now a Besieged Global Power, Scholars Say,” May 8, 2008, http://news.illinois.edu/NEWS/08/0508superpower.html
- Dick K. Nanto, “The Global Financial Crisis, Analysis and Policy Implications,” Congressional Research Service, /CRS Report for Congress, www.crs.gov, July 10, 2009
- Paul Craig Roberts, “The Dollar’s Reserve Currency Role is Drawing to an end,” GlobalResearch.ca, February 6, 2008, http://www.globalresearch.ca/index.php?context=va&aid=8021
- c. Fred Bergstein, “The Dollar and The Deficits,” Foreign Affairs, November/December 2009 http://www.foreignaffairs.com/articles/65446/c-fred-bergsten/the-dollar-and-the-deficits
- Michael Murphy, “Heads Up on the Dollar Today: The World’s Reserve Currency is Changing,” March 25, 2009, http://seekingalpha.com/article/127730-heads-up-on-the-dollar-today-the-world-s-reserve-currency-is-changing, )
- Vanessa Cross, “The Dollar vs. Euro: Can the Euro Replace Dollar as Dominate Foreign Reserve Currency,” November 27, 2009, http://business-market-analysis.suite101.com/article.cfm/the_dollar_vs_euro, “euro could replace dollar as top currency-Greenspan,” Reuters, September 17, 2009 see also “Dollar Days as Reserve Currency Are Numbered, “Gulf News: United Arab Emirates, September 1, 2009, http://www.highbeam.com/doc/1G1-206967328.html, Interview With LeMonde, “Jean-Claude Trichet, President of the ECB
conducted by Pierre-Antoine Delhommais and Arnaud Leparmentier
17 November 2009, http://www.ecb.int/press/key/date/2009/html/sp091117.en.html, Menzie Chinn, Jeffrey Frankel, “Will the Euro Eventually Surpass the Dollar as the Leading International Reserve Currency? NBER Working Paper No. 11510* Issued in August 2005, NBER Program(s) IFM, The National Bureau of Economic Research, http://www.nber.org/papers/w11510, “US dollar no longer a one-way bet,” Reuters, Friday November 20, 2009
“Who Saw the Crash Coming,” The Federal Union Blog, August 20,2009,
- Russia Dumps Dollar as Reserve Currency-Adopts Euro, Wednesday, May 20, 2009
- Op. Cit. “Euro could replace Dollar as top Currency-Greenspan,
- Dr. Guenter Burghardt, “EU-US Economic Relations in the Age of the Euro: An Indispensable Partnership” Delegation of the European Commission to the United States, November 20, 2003,
- Jon-Marc Simon, “The New World Monetary Order and the Need for an EU Foreign Monetary Policy, September 23, 2009, “European Federalists” http://federalists.cafebabel.com/en/post/2009/10/07/The-new-world-monetary-order-and-the-need-for-an-EU-foreign-monetary-policy
- Guillermo de la Dehas, “Will the Euro Overtake The Dollar as Dominant Currency?
http://www.europarl.europa.eu/document/activities/cont/200806/20080618ATT32194/20080618ATT32194EN.pdf, June 18, 2008
- Ferry Hoogendijk, “Japan: Friend or Foe,” European Affairs, August/September 1991, no. 4, pp. 4-5. Peter Montagnon, “EC Spies Its Big Potential in the World Economy,” Financial Times, January 1991.
- “The Future League of Nations,” Economist, 24 August, 1991, p. 56.
- Eric Cox, “Inside the Beltway,” World Federalist, Washington, vol. 16, no. 4, Autumn 1991, p. 5.
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