Home > Man-Made Disasters > The Western World is ‘Finished Financially’: Banks Told to ‘Prepare for Armageddon’ as Central Bank Action Buys Time for Europe

The Western World is ‘Finished Financially’: Banks Told to ‘Prepare for Armageddon’ as Central Bank Action Buys Time for Europe

12/01/2011 Leave a comment Go to comments

The roller coaster called Wall Street never ceases to amaze.  Upon hearing about a can-kicking band-aid solution to temporarily cover up the Euro debt mess, the DOW sees its highest one-day gain in years.  If concealing the bleeding can rally the market this much, imagine how hard the fall will be when they come to terms with the fact that after running its course the band-aid fix has solved nothing and we’re now left with an open, unstoppable bleeding wound …

By Deepanshu Bagchee – “Stocks in Asia surged on Thursday, after the coordinated action by global central banks to provide cheaper dollar funding to European banks spurred massive gains on Wall Street. But according to a number of analysts CNBC spoke to, the rally is unlikely to last, as the move merely bought time for European leaders and doesn’t solve the euro zone’s fundamental debt problems.

‘This liquidity is definitely something that’s addressing the symptoms of the problems, but we really need the Europeans themselves to be attacking the cause and the solvency issues,’ said Nick Bennenbroek, Head of Currency Strategy at Wells Fargo in New York.

Michael McCarthy, Chief Markets Strategist at CMC Markets in Sydney said the stock surge was typical of a bear market rally. ‘Right now Europe needs a leader, somebody who can take this situation by the scruff of the neck and bring all of European interests to bear to get them to act in concert,’ he added

Europe’s already crippling debt crisis is set to worsen in 2012, when many of the region’s governments are forced to refinance huge amounts of debt. According to Ilian Mihov, a professor of Economics at the INSEAD business school, Italy alone will have to roll over 400 billion euros ($538 billion) in 2012, about 20 percent of its total debt. With yields on bonds at 7 to 8 percent, that could be difficult, he added.” Read more.

‘Prepare for Armageddon’: Banks told to prepare for Eurozone collapse – “BRITAIN’S banks have been told to prepare for the end of the Eurozone, it emerged today. City regulator the Financial Services Authority has told banks to ready themselves for armageddon by running ‘stress tests’ on their balance sheets. FSA chief Hector Sants met the heads of BARCLAYS, SANTANDER, HSBC, LLOYDS and RBS last week. News of the shock warning came as the world’s biggest central banks today launched a desperate bid to save the global economy by flooding markets with cheaper cash. The Bank of England was one of six pledging to make it cheaper for big banks to access ‘unlimited amounts’ of US dollars.” Read more.

CIO at Emergent Asset Management: The Western World Is ‘Finished Financially’ – “The Western world has run out of ideas and is ‘finished financially’ while emerging economies across the world will continue to grow, David Murrin, CIO at Emergent Asset Management told CNBC on the tenth anniversary of coining of the so-called BRIC nations of Brazil, Russia, India and China, by Goldman Sachs’ Jim O’Neill. ‘I still subscribe and I’ve spoken about it regularly on this show that this is the moment when the Western world realizes it is finished financially and the implications are huge, whereas the emerging BRIC countries are at the beginning of their continuation cycle,’ Murrin told CNBC. Murrin added he believes the power shift from the West to emerging economies beyond Europe and the United States was ‘unstoppable’ …” Read more.

Categories: Man-Made Disasters
  1. Kurt J.'s avatar
    Kurt J.
    12/01/2011 at 3:08 PM
    Reply

    Your preamble is exactly right–the 500 pt Wall Street rally had the feeling of a desperate, last-gasp attempt to revive the good ol’ days.

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  2. ICA's avatar
    ICA
    12/01/2011 at 4:05 PM
    Reply

    Investor Sentiment of the Day: T’is better to have hoped and lost, than never to have hoped at all.

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  3. Unknown's avatar
    Anonymous
    12/01/2011 at 4:54 PM
    Reply

    I am not endorsing this but it is interesting none the same – I am sure many could have wrote this up in today’s world but the claim is?? two sources or 2 witnesses and the splitting of the US comes up quite often today along this Madrid Fault line scenario plus the financial collapse we all see coming

    http://www.fivedoves.com/letters/july2010/jim730.htm

    Just thinking but maybe this is the perfect setup where we could expect some super hero guru type of person to appear on the scene to sort out all of this mess – ???

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  4. ICA's avatar
    ICA
    12/01/2011 at 7:52 PM
    Reply

    Hi, thank you for your comment. I’ve read the link you posted and will say this: When someone claims to have received a “word from the Lord” and then that “word” goes on to describe a pre-trib rapture, I then know for certain that it is not from the Lord. Either they have diluted the message with their own assumed ideas in this regard with what the Spirit may have shared in their hearts, or they simply didn’t receive anything from the Spirit of God at all. The text of Scripture — which is God-breathed — does not teach a pre-trib rapture, or a pre-trib anything. It never has, and it never will. The only text that teaches a pre-trib gathering of His elect are the uninspired texts of man. I lay out reasons why I believe this in some of the articles posted on the Theology and Eschatology page.

    As for his comment regarding the “restrainer”, let’s think about the words of Paul in 2 Thessalonians very carefully. When Paul told the Christians of Thessalonica about the revealing of the “Man of Sin”, the one “Who opposeth and exalteth himself above all that is called God, or that is worshipped; so that he as God sitteth in the temple of God, shewing himself that he is God” (2:4) he was obviously alluding directly to the Prophet Daniel (Daniel 11:36-37) who spoke of the exact same event:

    Dan 11:36-37, “And the king shall do according to his will; and he shall exalt himself, and magnify himself above every god, and shall speak marvellous things against the God of gods … for he shall magnify himself above all.”

    In fact, Paul even continues by saying, “Remember ye not, that, when I was yet with you, I told you these things?” (2:5). Told them what things? The things that were written in the Book of Daniel. You see, up until then, the Old Testament was their only Scriptural reference to draw from and in teaching them the things of God, those were the texts that Paul used. After Paul reminds them that he told them these things from the Book of Daniel, he then continues, “And now ye know what withholdeth that he might be revealed in his time” (2:6). So, given the fact that Paul references the end of Daniel 11, what else does Daniel say that Paul’s words would have caused them to remember? A few verses later Daniel writes:

    Dan 12:1, “At that time Michael shall stand up, The great prince who stands watch over the sons of your people; And there shall be a time of trouble, Such as never was since there was a nation, Even to that time. And at that time your people shall be delivered, Every one who is found written in the book.”

    Here we discover that Archangel Michael has watched over the people of God throughout history and even today, but that a time would come when Michael will “stand up”. The Hebrew word for “stand up” in Dan 12:1 is “amad” (H5975) and it means “to stand aside or stand still, stop (moving or doing), to cease.” How do we know that this is the intended meaning? Because of the context. We know because after Michael does this we read about “a time of trouble, such as never was since there was a nation, even to that time”.

    This should immediately sound familiar to us. 2 Thess 2:7 says, “For the secret power of lawlessness is already at work; but the one who now holds it back will continue to do so till he is taken out of the way.” (NIV). The Greek for “taken out of the way” is “ginomai ek mesos” and the word “ginomai” is a deponent verb (middle for active voice), so it need not mean removal by an outside force, but rather removal through a determined act on the part of the subject. That is to say, the Restrainer moves HIMSELF out of the way or the midst by stepping aside or getting out from in between. To be “taken out of the way” does not mean to be completely removed but simply means to cease from standing in between or to refrain from actively restraining. The closest English translation for 2 Thess 2:7 is found in the NLT:

    2 Thess 2:7, “For this lawlessness is already at work secretly, and it will remain secret until the one who is holding it back steps out of the way.”

    And then the “lawless one” will be revealed (2 Thess 2:8). Look at what Jesus says in Matthew 24:15,21:

    Matt 24:14,21, “When ye therefore shall see the abomination of desolation, spoken of by Daniel the prophet, stand in the holy place … then shall be great tribulation, such as was not since the beginning of the world to this time, no, nor ever shall be.”

    Bingo. This is exactly what the prophet Daniel said would happen when Michael steps aside, that “there shall be a time of trouble, Such as never was since there was a nation, even to that time.” This is precisely what Paul reminded the Christians of Thessalonica about so that they would remember.

    Because of this, I therefore believe that the restrainer is Archangel Michael, and not the Bride of Christ.

    As for the Bride of Christ, let’s take a look to see what Scripture has to say in this regard. In Hosea 2:14,16,19 we read, “Therefore I am now going to allure her (Israel) … ‘In that day,’ declares the Lord, ‘you will call me ‘my husband‘; you will no longer call me ‘my master… [and] I will betroth you to me forever.’“

    God seems to be saying here that Israel is His Bride. Does Scripture confirm this elsewhere?

    Revelation 21:9-12, “And there came unto me one of the seven angels … saying, come hither, and I will shew thee the bride, THE LAMB’S WIFE. And he … shewed me that great city, the holy Jerusalem … which had a wall great and high, and twelve gates… and names written thereon which are the NAMES OF THE TWELVE TRIBES OF ISRAEL.”

    Let’s allow to Word of God to speak one more time in this regard:

    Isaiah 54:4-5 says, “For you [Israel] will forget the shame of your youth, And will not remember the reproach of your widowhood anymore. For YOUR MAKER IS YOUR HUSBAND — the LORD Almighty is his name — the Holy One of Israel is your Redeemer; he is called the God of all the earth.”

    Jesus Christ — the Lamb of God — is the One who created all things (Col 1:16, Rev 4:11). He is Israel’s Creator. He is Israel’s Maker. He is Israel’s Redeemer, and through Him, we are no longer excluded from citizenship of Israel and are no longer foreigners and aliens, but are now fellow citizens with God’s people and members of God’s household (Ephesians 2). The New Testament ‘Gentile’ Church is not the Bride. The New Testament ‘Gentile’ Church does not replace the Bride (Pre-tribism teaches a form of “replacement theology” without knowing it). As a part of Israel — as a part of Jacob — both believing Jew and believing Gentile are together the Bride of Christ.

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