EVR~Why the Global Financial System Must Survive For Some Time Longer

By Wilfred Hahn

[ The following is an excerpt from a chapter contributed to the book

How to Overcome the Most Frightening Issues You Will Face This Century

(Defender 2009). While the title of the book was sensationalist,

insinuating that the collapse of financial institutions was frightening, the real risks

for Christians and humanity that we laid out were very different.]

As never before, a virtual financial storm ripped through the world’s

financial securities and credit markets [in 2007 to 2009], shaking the

infrastructure of mankind’s money systems to the very foundation. Every type of

financial institution was touched, from banks to insurers, brokers, hedge funds,

pensions, central banks, and SWFs. We can hardly attempt to completely recount the

many rescued or folded financial institutions during this period. Without a doubt, it was

an unprecedented financial debacle; it was more complex and potentially more lethal

than even the disastrous financial conditions of the 1930s.

Yet despite the epic scale of the crisis, as of yet the world’s financial system still

stands. This is a significant point, though it may be obvious. While the global financial

edifice may still be quivering and parts of it greatly weakened or collapsed, these

international systems remain operative. This system is not yet at an end, but rather is experiencing a transition.

Serve Him in the Waiting