You may view the 5 minute update this week via audio:
In this week’s 5 minute update, we focused on:
1) The current status of the Israel / PLO peace process
2) The European Debt Crisis
The July 11 Quartet meeting (US, UN, EU and Russia) regarding how to restart peace talks between the PLO and Israel did not result in a new policy statement due to disagreement among the Quartet members themselves. Russia was unwilling to support a Quartet statement recognizing Israel as a Jewish state. The PLO still does not want to recognize Israel as a Jewish state. Furthermore, the Quartet was unable to find an acceptable formula that both Israel and the PLO could agree. Despite these problems, Quartet envoy Tony Blair plans to travel to the Middle East to continue to seek to find a formula to renew peace talks.
The PLO have stated that peace talks have failed and they plan on continuing to pursue their efforts to get recognition of a PLO state this September at the UN. The Arab League has stated that they will submit a proposal to the UN to recognize a PLO state. The US opposes the Arab League plan. China, one of the five UN Security Council members, supports recognition of a PLO state at the UN. The PLO is planning for local elections in October.
An agreement to divide Jerusalem and establish a PLO state is a tribulation event.
The link to these articles are as follows:
1) Mediators unable to break deadlock on restarting Israeli-Palestinian talks
2) Israel and Palestinian sources to Haaretz: U.S. peace efforts have failed
3) Mideast Quartet talks failed due to disagreement over Israel as Jewish state
4) PA prevented Quartet statement
5) Quartet succumbed to Israeli pressure, PA says
6) Blair to return in search for statehood bid solution
7) ‘Arab League to ask UN to recognize Palestinian state’
8.) US rejects Arab League’s support for PA’s UN statehood bid
9) PLO official: Local elections to take place in October
10) China Supports Palestinian Membership of UN
US debt rating agencies have downgraded the debt of Portugal, Ireland and Greece to junk status. The Italian M1 money supply has contracted by 7% in the last 6 months. A contracting money supply indicates financial trouble for a country. Fed chairman Ben Bernanke says that while the debt problems of Portugal, Ireland and Greece are manageable, if the European debt crisis spreads on a greater level to Italy and Spain it could spell major problems for the US.
Worldwide economic collapse resulting in a one-world currency is a tribulation event.
The link to these articles are as follows:
1) Portugal downgraded to junk by Moody’s
2) Fitch Downgrades Greece on Lack of Funding Program
3) Ireland’s Bonds Downgraded to Junk
4) Italy money supply plunge flashes red warning signals
5) Eurozone crisis poses threat to US, warns Fed chairman Ben Bernanke
From a Biblical prophetic perspective, the reason why the God of Israel would allow these events to happen is because it will result in the end of the exile of the house of Jacob and the reunification of the 12 tribes of Israel (Ephraim and Judah).
We will to be “watchmen on the walls of Jerusalem” and we will not rest until the God of Israel makes Jerusalem a praise in the earth (Isaiah 62).
Shalom in Yeshua the Messiah,
Eddie Chumney
Hebraic Heritage Ministries Int’l