First, the three seven year periods should be laid out from 2008 to 2029 (even though Terry himself says “2028” this could be a verbal miscue). If the Hebrew year starts around Yom Kippur in the Fall of most years the first period is:
1) from Fall 2008 to Fall 2015 [Economic upheaval];
2) second period from Fall 2015 to Fall 2022 [Political-governmental upheaval];
3) third period from Fall 2022 to Fall 2029 [Religious upheaval].
The second problem with Bailey’s interpretive framework is that his predictions – written in 2013 and 2014 – have already proven inaccurate. CS believes this is due to common interpretive errors regarding many prophetic pronouncements.
The first error is not to take into account the intercession and redemptive actions of the church and how this causes God to change His mind or delay certain prophetic words and judgments (see Evaluating Prophets and Prophecy). As Terry himself says in the transcript of the recording: “I was instructed to pray that certain things could be averted with those whom I shared, which was a fairly large number of people although I did not go public with that. I shared it in the hopes that, as the body of Christ, we would pray and we could see some things averted.” The second error is an erroneous understanding of the nature of prophetic revelation itself.
CS believes that prophetic revelation displays the reality in the Spirit. The spiritual reality is, of course, true reality. But spiritual reality leads to a manifestation of that reality in the natural. In so doing, there is a delayed effect. Manifestation in the natural is a process. This is one explanation for why an angel might pronounce something during a time period that does not have its full effect in that time period. The effects of that prophecy start during that time period, but the process does not reach maturity in the natural until much later.
Evidence of this is seen in the book of Revelation. Each of the first five trumpets of Revelation 8ff start in chapter 8, but do not have their full effect until much later. This can be understood more clearly if you realize the time scheme of the book: there are no time demarcations between the first 5 trumpets [at least, not in the Greek]. The first time marker, “after these things” occurs at Revelation 9:12. This means that the effect of each of the first five trumpets continues into the sounding of the next trumpet. The effects are building or accumulating, as it were, until we come to the fifth trumpet, also called the ‘first woe’. Each of the first two woes (fifth and sixth trumpets) is then a complete event, building on the events-trumpets before it.
This is also how things evolve in the natural. A stock market crash does not happen in isolation apart from the cumulative effects that build towards the market crash. And a stock market crash can itself be the cause of something even more calamitous – like a global economic crash or recession. Each event leads to another and another to a climax in a process that takes time.
As of the time of the transcript, Terry apparently does not see things this way – at least as to one aspect of the revelation. As he says, “And I am not saying that anything has been or will be averted. It is just obvious to me since we are now past 2008 that surely something was not averted because of what we have gone through.” So, he assumes that because of the events of the Great Financial Crisis that nothing of the revelation has been averted. CS believes this may be an erroneous conclusion due to the emotional impact of then present events. Terry may have also – since then, and over time – changed the way he views his past interpretation of these revelations.
And later on, Terry says, “2011 was directly spoken to me by the angel that there would be the attaining of a goal in 2011, economically speaking. That goal being a downward turn unlike any other downward turn in the history of the nations. I do not believe it is all going to hit in 2011. I believe 2011 is the beginning of it, of what I call another wave. I was actually shown another wave past that in the 2013-2014 area that will be larger than the 2008 wave and the 2011 wave.”
So, here he obviously understands what we describe from the book of Revelation above: these things are the beginning of processes that gradually unfold. And based on the fact that we have not seen a larger economic crash in 2013-14, either they have been delayed as a result of God’s grace and the Body’s intercession, or there was a mistake in interpretation and timing somewhere. As John Wimber used to say about prophecy – there is a big gap between revelation, interpretation, and application that explains much of the confusion surrounding the gift of prophecy and those in the prophetic office.
For example, Terry says, “What I saw in that was the stock market in the United States of America drop below 500 points. That is not 5,000 points. It is 500 points.” [The stock market’s lowest point after the 2008 housing market collapse was 6,469, so by this he appears to mean the DOW].
But he does not clarify which stock index he saw going to 500 points. If it is the DOW, a level of 500 would mean the end of the United States economy as we know it – but it would also signify global collapse because approximately 50% of the profits of the total of 30 Dow companies come from ex-US sources. But, if a level of 500 refers to the S&P 500, 500 companies which are generally considered a better indication of the health of the US economy, then 500 is about one or two steps below where the S&P has ended up in most recent economic crashes, including the one in 2008 [Its low level at that time was about 666]. That would indicate serious economic trouble – but not necessarily a national and global collapse.
Does Terry mix up the revelation with a misinterpretation? That is, does he conflate two different stock indexes, both of which can be symbolic for the US Economy? Since he is not specific regarding which index he saw hit 500, it is impossible to determine.
One way to understand the timing of all of these events is a statement Terry makes within the transcript: “The angel made it very clear to me concerning four nations. He said to me in 2001, “I want you to watch four nations. They are sign-posts for what is going to happen [emphasis CS]. The four nations were Greece, Italy, Spain, and France” [emphasis CS].
None of these nations is in visible crisis as of January 2017 – but all of them have issues that could come to the forefront again during this year. Greece does not by itself have a large enough economy to impact world events – and the signpost of Greece has really already occurred in that it was the first to struggle and make an impact on the EZ and global economic events. The nations to watch more closely now are: Italy, France, and CS believes, particularly Spain.
The reason for this is because all of these nations have significant GDP’s and interlocking banking relationships relative to the rest of Europe that could affect the entire continent if their individual economies begin to struggle or slip into crisis. Spain, in particular, has enmeshed relationships between the government and the banking system, had chronic real estate issues connected to the banks coming out of the Great Financial Crisis, has interlocking banking issues with the whole continent, and is facing secession issues with its wealthiest and largest region, Catalonia. Spain is therefore a key country to watch for critical issues that could spread to the rest of Europe and then to the U.S.
These comments at the end of Bailey’s commentary are comments CS agrees with:
“The pastor hosting this meeting then made the following comments to share other insights that Terry Bennett had shared with him separately. Terry Bennett agreed with these comments.”
“These three seven-year periods are laying the foundation for the antichrist world system. That does not mean the antichrist is coming in 2028, but it does mean certain foundations are being laid. Not all nations will adopt all three of these systems. Some nations will adopt one or two while others will adopt all three. Each nation made its own decision. The intercessors will also determine to what degree the nations will adopt these evil systems and to what degree the nations will become refuge nations. There will be many sheep nations that will refuse to adopt these evil systems. Believers must take action because their cities can be cities of refuge if they will make it be so. Our nation will be a sheep nation if we choose to make it be so and if we pray for it.”
The link below and CS commentary on it brings further light to what Terry was shown. But, as stated, CS does not agree with Bailey’s interpretive framework for Terry’s revelation or Bailey’s interpretive work on the book of Revelation.