Since the COVID-19 pandemic began, people talked about it possibly marking the biblical end times. Get ready, because if that's true, then more hardship lies ahead.
The COVID-19 crisis is regarded as a black swan, a once-in-a-century event affecting the entire world.
So, what might be next? A Christian financial expert says get ready for something known as gray swan events—trends we are already experiencing that are likely to transcend the pandemic.
"A gray swan is an event that is obvious, it's out in the open, people see it, they know that it is there, they know it is a significant threat, but they tend to ignore it and do nothing about it," Crown Financial CEO and radio host Chuck Bentley insisted.
Bentley explains this further in his new book, Seven Gray Swans: Trends That Threaten Our Financial Future.
Digital Currency and a Cashless Society
Among the seven: the global move toward digital currency and a cashless society. Bentley said the transition actually began years ago and has proceeded rapidly since COVID-19 hit.
"Especially with the threat [that] our actual physical currency may be tainted with the virus. And over time, the Bible warns that ultimately the Antichrist will control the world through the economy, and so I think we need to be aware that it is moving in that direction rapidly and to do our part to be prepared for that."
Stimulus Payments and Universal Basic Income
Also, when the U.S. Congress considered another multibillion-dollar stimulus package, most Americans wanted to know how much to expect in their bank accounts or mailboxes. Bentley warns temporary relief payments could easily turn into a permanent, universal basic income program.
"Those types of programs are very hard to stop. But my hope is that we will not endorse this policy, to see that continue because ultimately we cannot afford it. It would be like eating sugar for your diet. It feels good for a little while, but it doesn't do good in the long term."
Skyrocketing Debt Crisis
Bentley believes this is a result of the U.S. embracing the modern monetary theory that debt doesn't matter, so the Fed goes on printing dollars indefinitely.
A similar trend in Venezuela led to hyperinflation with an overall five-year rate that rose a whopping 53 million percent.
America's stunning $30.4 trillion national debt now exceeds the size of the entire U.S. economy and is expected to total 102% of the U.S. gross domestic product by the end of this fiscal year. Bentley doubts the debt will ever be repaid, and that would lead America's creditors to inflict some painful options on the public.
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