Mario Draghi’s War of Words

In one fell swoop, ECB President Mario Draghi turned the tide in global financial markets with a verbal frontal attack.

With a name—Mario Draghi—that translates into English as “war dragon,” Mario Draghi is waging subtle warfare on the euro crisis, having major global players of financial and stock markets literally hanging on his every public statement.

Early last week, extremely nervous global markets were either stagnant or in free fall as players took an increasingly jaundiced view of the failure of Europe to effectively contend with its ongoing, worsening financial crisis.

In the middle of the week, Ben Stein summed up the mood thus: “[W]ent to sleep with foreboding. Europe is falling apart …. A cratered Europe will have immense effects on the world economy” (American Spectator, July 25). He expressed concern about what, if anything, Washington could do in terms of its clueless international economic policy “if we go into another leg of recession as demand for U.S. exports to Europe corrects.”

Then, on Thursday, toward the end of a dismal week, Mario Draghi simply sought to turn the tide with a war of words. No real action, just words. On Friday, the media carried the story of Draghi publicly and very confidently declaring that “the ecb is ready to do whatever it takes to save the euro.” This statement was seized upon by the European press, which quickly spread their view that Draghi had “sent a positive signal to the markets” (Presseurop, July 27).

All eyes will now be on “Super Mario” this coming Thursday as he leads the discussion at the ecb governing council meeting in Frankfurt. Till then, the markets, having given initial response to his announcement last week, will hold their breath.

The fact that just by making one public statement, Mario “the war dragon” Draghi is able to have such powerful effect on the global economy highlights two very prophetic aspects of the rising imperial power of which he is chief banker.

This rising United States of Europe, in reality the seventh and final resurrection of the Holy Roman Empire, is prophesied to be the dominant financial and economic power—a huge international trading bloc—at the close of the present age just prior to Jesus Christ’s return. It is prophesied to have the power to dictate trading terms that will either open or close the food markets of the world to any given nation or group of people (Revelation 13:16-17).

Full article: Mario Draghi’s War of Words (The Trumpet)

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