- Daniel 11:37-39 (New King James Version)
37 He shall regard neither the God[a] of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all. 38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain.
- We are at the end game of this sovereign debt crisis. It probaby has another year to play out before: global financial, economic and monetary meltdown. Greece has agreed to a $110B Euro bailout over 3 years. The country is as good as sold to the banksters! The people will suffer. Which country is next? Take your pick from the PIIGS. One by one, the countries will go through this. Thereafter, UK, Japan and finally America. The end result of this Great Depression 2.0 will be world war. The banksters need to create a massive distraction to hide their theft from the sheeple. They will undoubtedly activate their Illuminist depopulation plan.
Boy, what a week! I’ve been warning about a troubled euro and a building sovereign debt crisis for some time. And the bond and currency market activities this past week are a clear example that the momentum is picking up. There’s a bumpy road ahead … and not just for Greece.
For those of you who aren’t closely monitoring this drama in Europe, you should be. … the events in Greece will likely impact your investments and the economy, both in the U.S. and abroad. And if you haven’t followed the events of the past five days, here’s a brief recap of what’s transpired, the impact on global financial markets, and what to expect from here on out …
First, the Greek government’s official request for a rescue package from its European partners and the IMF did not calm fears. Instead, the Greek bond market shifted into another gear of panic. Investors and speculators rushed out of Greek debt, driving up two-year borrowing costs for the Greek government to over 18 percent. But that wasn’t all. The contagion factor started rearing its head.
The grim outlook for Greece sent investors and speculators looking at the next likely victim, Portugal. And Portugal’s debt was aggressively sold, sending yields jumping to more than three times the levels of early last month. And downgrades soon followed. S&P downgraded Portugal’s credit rating two notches and downgraded Greece by three notches, to junk status. There was more …
With the Portugal domino starting to wobble, the biggest, most threatening weak spot in the euro zone, Spain, came under the spotlight. As a result Spanish bonds were dumped, and S&P responded in kind, with a downgrade on Spain and warnings of possible further downgrades.
All of this sent the euro tumbling further, and sent shockwaves through global financial markets. This is a scenario I’ve expected to unfold since Dubai failed to make good on their sovereign debt last year. And these recent events in Europe are just a few more steps in what will likely be early innings of a full blown global sovereign debt crisis.
For those who have convinced themselves that a V-shaped economic recovery is underway, and that the problems in Europe will stay in Europe, they should be very careful. Here’s why …
The Global Picture
This most recent recession shares two key features found in three other recessions in the past fifty years:
1. Global synchronization — According to the IMF, at the trough of the recent recession a whopping 65 percent of world economies were in a recession, too.
2. Financial crisis — In recessions associated with a financial crisis, the recoveries were slower because households are in saving mode, credit is tight and demand is weak.
It all boils down then to knowing where the global economy stands after emerging from the most severe economic downturn since the Great Depression. For that answer, let’s look at:
The Four Stages of Collateral
Damage of Past Financial Crises
When tax revenues decline and government stimulus spending rises, countries tend to swiftly turn budget surpluses into deficits. And for countries already running deficits, the deficits just get bigger.
Facing weak growth and dwindling tax revenues, those deficits turn into debt. Soaring debt with questionable growth prospects ultimately flash warning signals to global investors.
Those warning signals turn into credit downgrades.
And finally, credit downgrades tend to drive borrowing costs higher, which can force the fiscally fragile into default. History also shows that sovereign debt defaults can be contagious.
Nonetheless, the dominos for a sovereign debt crisis are clearly in line. As fears over deficits and debt continue to spread, expect the problems in Europe to test the lifespan of the euro, and ultimately present challenges to global financial markets and global economic recovery as fears spread to the UK, Japan and the U.S.
- This is an excellent book explaining how banksters have taken over the world via the central banking cartel. These globalists are intent on a One World Government run by banksters. The plan for a global fascist police state is taking shape with the microchipping of all citizens with ’666′. If you do not have time the read the entire book, read this 8 pages synopsis. Excerpts:
Thesis: That the U.S. monetary system is based on a combination of fraud and sleight of hand that allows private debt (i.e. debt created by private banks) to masquerade as public money. This has permitted a shadowy, parasitical, malign élite she calls “the banking spider” to enrich itself while dominating the global economy and, more often than not, politics.
Banking is mystified; corruption is rampant (xi-xii). Quotes from FDR (1933) and Rep. Louis McFadden (1932) show that private control of the money supply was once well-known but “is largely unknown today” (xii-xiii). Brown presents “credible evidence . . . of a world power elite intent on gaining absolute control over the planet and its natural resources”
Introduction: Captured by the Debt Spider.
Prof. Carroll Quigley [1910-1977] of Georgetown U. said an “elite clique of global financiers” control the world (1-2). Henry C.K. Liu called our monetary system a “cruel hoax” (2). The power to create money should be returned to the government (3). Summary of little-known facts about money (3-6). Baum’s The Wonderful Wizard of Oz (1900) was a monetary allegory about the struggle against the “the Morgan/Rockefeller banking cartel” (6-8).
Ch. 2: Behind the Curtain: The Federal Reserve and the Federal Debt.
The Federal Reserve chairman is not accountable to the public (23-24). The “Fed” is not federal; it is actually a private corporation owned by other banks, esp. Citibank & J.P Morgan Chase; it has no assets back “Federal Reserve notes,” not even a “reserve” of its own notes—its “cash reserves” are merely bookkeeping entries (24-25). In a practice (fractional reserve lending) that would be a tort involving any other property, banks create most money out of nothing, “by sleight of hand”; “Contrary to popular belief, loans become deposits rather than the reverse” (30; 26; 25-30). Since banks lend only the principal but demand this back plus interest, “the system as a whole is always short of funds, and somebody has to default”; inflation is “necessary to keep the scheme going” (31 [emphasis in original], 30-32). The monetary system is based on debt that is never repaid; the federal government plays that role (32-34).
Ch.12: Talking Heads and Invisible Hands: The Secret Government.
Bankers, esp. Morgan and Rothschild, were behind the Robber Barons; a rumor asserted that Morgan was a front to evade anti-Semitism (113-20).
Ch. 13: Witches’ Coven: The Jekyll Island Affair and the Federal Reserve Act of 1913.
Achievement of the Federal Reserve Act was “a major coup for the international bankers” (124; 121-25). The Federal Reserve (125-26). The “master spider” moved to America (127). The Bank of International Settlements in Basel allows foreign banking interests to control the U.S. Federal Reserve (128-29). The Bilderberg group controls media and the masses (universal education are elements of its design) (129-30).
- See also:
European Central Bank President Calls for Corrupt BIS to Boss Global Government in CFR Speech !
Money, Banking and the Federal Reserve !
Bob Chapman: The Illuminati Want to Bankrupt the World And Usher in World Government!
Rothschilds and the Federal Reserve !
Federal Reserve Bank Con-Job Exposed!
Max Keiser: Bankster Theft of America. Catherine Austin Fitts: Between 1997 and 2002, $4 Trillion Went Missing From US Government!
FED GAVE Banks Access to $23.7 TRILLION DOLLARS NOT $700 Billion!
Bloomberg David Reilly: Secret Banking Cabal Emerges From AIG Shadows!
The Monopoly Men: The Illuminati Bankster Shadow Government!
The Federal Reserve: Secretive And Incompetent Organization ! The Creature From Jekyll Island.
History of Money & Fractional Reserve Banking System
How International Bankers Gained Control of America!
Federal Reserve is a Private Company.
The End of Money -> 666 !
Banks Run Congress, Top Democrat Says
Implantable RFID MicroChip: Mass Conditioning for ‘666′ Has Begun!
- This is correct. Historically, Jews have lived peacefully in Muslim countries. Muslim countries are/were very hospitable to Jews. They did not persecute or demean Jews. Before the Zionist came, Jews and Muslim were living peacefully in Jerusalem. Their children played together and there were peace.
- Therefore, people who paint this “Clash of Civilization’ between Muslim and Judeo-Christian world is talking a bunch of garbage. This is fabricated by the PTB who want to further their Satanic 3 World Wars Plan. The sad fact is that Zionist Israel is using Nazi tactics to ethnically cleanse the Palestinian population (30% Christians, 70% Muslims). We find so-called Jews using the memory of the Holocaust to justify genocide. This is sick and reprehensible. What has the Palestinian people to do with the genocide of millions of Jews by the Nazis? People who use this justification are not Jews but are the Synagogue of Satan!
‘Unlike Europe, Iran never hurt Jews’
An Iranian lawmaker representing the country’s Jewish minority says Iran has never harmed its Jewish community, condemning Western propaganda against Iran. “While Jews were hurt by European churches during the Middle Ages, no case of a crackdown against Jews by Muslims has been reported in historical records,” Siamak Morsadegh said in a conference on religious minorities that was held in Paris on Saturday.
Iran’s embassy in France had organized the conference that brought together a number of French intellectuals and scholars. “Jews have been in Iran for the past 3,000 years, they consider themselves Iranian and they were martyred during the war” the Iranian lawmaker said, pointing to the 1980-88 Iran-Iraq war.
He also condemned Western propaganda against Iran calling it “baseless”, IRNA reported. The Jewish lawmaker objected Israel’s ongoing crackdown on Palestinians and stressed that the “Zionist school of thought” does not represent Judaism in any way, just as al-Qaeda does not represent Islam.
- Do you smell the coming global monetary crisis? It is getting more obvious by the day. The inane idea banksters are promoting will not work this time round. You cannot solve a debt and bankruptcy problem with more debts. If I am bankrupt, have no ability to pay and live a profligate life style do you think banks will lend me more money to solve my problem? The reality is: banksters must take a haircut for Greece’s debts. Try 50% debt forgiveness. The country must pull together and get rid of superfluous and profligate expenditures. Getting Greece into even more debt at a higher interest rate is not the solution.
- The banksters have engineered this crisis so that they can take over countries by stealth. For the past 2 years, private debts (and in particular bankster debts) have been dumped onto the populace. From a banking industry bankruptcy, it has been turned into a sovereign debt default. The final move to get out of all these debts is the debasement of currencies. These governments will print money out of thin air (QE) until all currencies become worthless! Remember: he who has the gold makes the rules! Gold is your insurance against currency debauchery!
Greek crisis will produce ‘high drama,’ Berkshire chairman predicts
Warren Buffett said Saturday that he’s bearish about the ability of all currencies to hold their value over time because of massive deficits being run up by governments in the wake of the global financial crisis. The Berkshire Hathaway Inc. … chairman also warned shareholders attending the company’s annual meeting that the Greek debt crisis will produce “high drama” and said it’s unclear how it ultimately will be resolved.
The financial crisis was stemmed by massive monetary and fiscal intervention in developed economies like the U.S. and the U.K. That’s shifted a private-sector debt mountain on to governments, increasing concern about sovereign risks.
One concern is that governments will print lots of new money to pay debts, undermining the value of currencies and triggering a damaging bout of inflation. “Events in the world over the last few years make me more bearish on all currencies in terms of holding their value over time,” Buffett said. If countries could run deficits of 10% of GDP and do it for a long time “the world would have been doing this for a long time already,” Buffett said. “It can’t be kept up.”
“How the world weans itself off huge deficit financing is going to be difficult to watch,” he added. Still, Buffett noted that as long as the U.S. borrows in U.S. dollars, there’s “no possibility of default.” “You don’t default when you can print your own currency,” he added.
Sovereign debt concerns have hit Greece hardest so far because the country has one of the biggest budget deficits and debt loads of any country in Europe’s single-currency zone. The country was also found to have understated its deficit twice, shaking investor confidence. Greek bond yields have soared and the country’s debt rating has been slashed to junk status. This has made it almost impossible for the country to refinance some of its debt mountain at realistic interest rates.
Buffett said Saturday that Europe’s monetary union has created a “really interesting situation.” Greece is a sovereign country in terms of its own budget, “but they can’t print their own currency,” he noted. “You may be seeing a test case play out there. A country not using its own currency and yet it is sovereign in terms of making its own promises to its citizens,” Buffett explained. “I don’t know how this movie ends,” he warned. “I try not to go to movies like that.”