Category: Global Economy

Dec 08

Israel Will Require All Citizens to be Biometrically Scanned

December 01, 2016

Israel to Require Citizens to Have Biometric Mark

 (JERUSALEM) For years, Bible prophecy teachers have warned about a last days attempt to place a mark on every individual, in fulfillment of foretellings from the book of Revelation in the New Testament, but will it be the Holy Land of Israel itself that will be the forerunner to implement ‘The Mark of the Beast’?

The Jersusalem Post has reported that the Interior Ministry has decided to push to make joining the national biometric database, including taking finger prints and facial recognition pictures, a requirement for all identity cards going forward.

There has been a backlash from a group called The Movement for Digital Rights.  They oppose the required ‘mark’ on the grounds that it invades privacy, and also opens individuals up to cyber-hacking in the future.

In 2009, the Israeli Knesset enacted the ” Inclusion of Biometric Means of Identification in Identity Documents and in an Information Database Law”, 5770-2009 (the Biometric Database Law).

The law establishes arrangements to enable identification and authentication of Israeli residents by means of including biometric data in identification documents, in a manner that will prevent forgery and the use of a different identity.

The law regulates the establishment of a biometric database, which will be managed by a dedicated and separate authority:  the Biometric Database Management Authority, and in which the biometric information will be kept in a secure and encrypted manner, separate from any other communication network, and in particular from the Population Registry. The database will not include any identifying information of the residents of Israel.

According to the law,  smart documentation – ID cards and travel documents – will  include the following biometric means and data: an image of the facial features and images of the fingerprints of both forefingers, which are means of identification intended of preventing fraud and identity theft.

The smart documentation, which includes many overt and covert security measures that cannot be forged, will provide its holder with personal security and peace of mind against document forging and against identity theft and impersonation. Other benefits include:

The smart ID card will allow its holders, should they wish to do so, to safely identify themselves online from home and save significant time and hassle when obtaining government services from government websites using a personal password (for electronic identity authentication).

The smart ID card will allow the use of certified electronic signature for those who choose it.

The new passport is at the global forefront of using sophisticated anti-counterfeit measures and is designed according to the standard of the International Civil Aviation Organization (ICAO) under the auspices of the UN.  More than one hundred countries are already issuing passports and smart electronic travel documents under this standard. The technology embedded in the new passport will enable faster travel at airports and at border crossings in Israel and in the world and will facilitate the process of border control.

How will proponents of Israel as the centerpiece of Bible prophecy respond to this news that the Holy Land may actually be the first nation to require a mark?  How can Israel be God’s favored nation and implement the anti-God forerunner to ‘The Mark of the Beast’?  Will Evangelical leaders call out Israel for this, or will they continue to blatantly ignore other actions, such as celebrations of homosexuality, and their apparent connections to ISIS?

Revelation 13:16-18 – Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666

Permanent link to this article: http://discerningthetimes.me/?p=8250

Nov 16

The Election Of Donald Trump Is Already Having An Enormous Impact On The Economy

By Michael Snyder, on November 14th, 2016

The election of Donald Trump has sent shockwaves through the U.S. economy and the U.S. financial system.  Since November 8th, the Dow has hit a brand new all-time record high, the U.S. dollar has strengthened greatly, and bank stocks are way up.  But not all of the economic news is good news.  Unlike stocks, bonds have reacted very negatively to Trump’s election victory.  The past week has been an absolute bloodbath for bond traders, and as you will see below this is going to have dramatic implications for all U.S. consumers moving forward.

Over just a two day period, more than a trillion dollars was wiped out as bond yields spiked all over the globe.  As CNN has noted, this type of “violent reaction” in the bond market has only happened three other times within the past ten years…

The rate on 10-year Treasury notes has surged to 2.3%, from 1.77% before the election. Last week’s spike in Treasury rates was so big, that it had only happened three times before in the last decade.

BlackRock’s Russ Koesterich called it a “violent reaction.”

The move stands to have broad repercussions for all Americans. Not only will the U.S. government have to pay more to borrow money, but mortgage rates and car loan costs should also rise. That’s because Treasuries are used as the benchmark for many other forms of credit.

As interest rates rise, virtually everyone in our society is going to feel the pain.

Those that need an auto loan in order to purchase a vehicle are going to find that loan payments are significantly higher than they were before.

Credit card rates will also go up, and those just getting out of school will discover that their student loan payments are even more suffocating.

But the biggest impact will be felt in the housing market.  The average rate on a 30-year fixed mortgage just hit the psychologically-important 4 percent barrier, and that could mean big trouble for the housing market in 2017

The average contract rate on the popular 30-year fixed mortgage hit 4 percent, according to Mortgage News Daily, a level most didn’t expect to see until the middle of next year. Rates have now moved nearly a half a percentage point higher since Donald Trump was elected president.

“The situation on the ground is panicked. Damage control,” said Matthew Graham, chief operating officer of Mortgage News Daily. “People were trying to lock loans quickly last week and are now facing a tough choice to lock today or hope for a bounce. Many hoped for a bounce last week heading into the long weekend and we obviously didn’t get it.”

Rising interest rates was one of the key factors that precipitated the financial crisis of 2008, and many fear that it could happen again.

And without a doubt, this rise in rates is going to affect the affordability of homes that are already on the market

“If you’re going to buy a house and your mortgage payment went up by $200 or $300, you may buy a smaller house. There’s impact on interest rate sensitive sectors, like autos and housing, and also corporate bonds themselves, where financial engineering has helped juice up the equity market,” said George Goncalves, head of rate strategy at Nomura.

In addition, rising rates will make it more difficult for those with adjustable rate mortgages to keep their homes.  Foreclosure activity was already up 27 percent during the month of October, and many are projecting that we could see another giant spike in foreclosures during the months ahead that is similar to what we saw during the last financial crisis.

Many Trump supporters don’t really care what the rest of the world thinks of our new president, but this is an area where what the rest of the world thinks really, really matters.

The truth is that the rest of the planet is not all too fond of Trump, and if that makes them a lot less eager to lend us money that is a major problem.

The only way that we can maintain our massively inflated debt-fueled standard of living is to continue to borrow gigantic mountains of money from the rest of the world at ultra-low interest rates.

If the rest of the world starts demanding higher rates of return now that Trump is president, we are going to experience economic pain on a scale that most Americans don’t believe is possible.

One of our big lenders has been China, and right now they are deeply concerned about what a Trump presidency might mean.  Trump has talked very tough about trade with China, and the Chinese are gearing up for a major trade war.  The following comes from CNBC

During his election campaign this year, Trump spoke of a 45 percent import tariff on all Chinese goods while failing to outline how it would work. Should any such policy come into effect, China will take a “tit-for-tat approach”, according to an opinion piece in the Global Times, a newspaper backed by the Communist party.

“A batch of Boeing orders will be replaced by Airbus. U.S. auto and iPhone sales in China will suffer a setback, and U.S. soybean and maize imports will be halted. China can also limit the number of Chinese students studying in the U.S.,” the Global Times article read.

Most Trump supporters assume that since Trump has been a very successful businessman that he will be able to strengthen the U.S. economy.

But it isn’t that simple.

The only reason we are able to live the way that we live today is because we have been able to borrow trillions upon trillions of dollars at irrationally low interest rates.

The moment the rest of the world decides that they are not going to loan us money at irrationally low interest rates any longer the game is over, and it won’t really matter who is in the White House at that point.

So watch interest rates very carefully.  If they keep going up, it is inevitable that a major economic slowdown will follow no matter what economic policies the new Trump administration implements.

Permanent link to this article: http://discerningthetimes.me/?p=8222

Oct 12

During The Coming Economic Crisis Two-Thirds Of The Country Will Be Out Of Cash Almost Immediately

By Michael Snyder, on October 10th, 2016

Did you know that almost 70 percent of the U.S. population is essentially living paycheck to paycheck?  As you will see below, a brand new survey has found that 69 percent of all Americans have less than $1,000 in savings.  Of course one of the primary reasons for this is that most of us are absolutely drowning in debt.  In fact, the total amount of household debt in the United States now exceeds 12 trillion dollars.  So many Americans are so busy just trying to pay off their existing debts that they can’t even think about saving anything for the future.  If economic conditions remain relatively stable, the fact that so many of us are living on the edge probably won’t kill us.  But the moment the economy plunges into another 2008-style crisis (or worse), we could be facing a situation where two-thirds of the country is in imminent danger of running out of cash.

If you are living paycheck to paycheck, you live under the constant threat of your life being totally turned upside down if that paycheck ever goes away.  During the last crisis, millions of Americans lost their jobs very rapidly, and because so many of them were living paycheck to paycheck all of a sudden large numbers of people couldn’t pay their mortgages.  As a result, multitudes of American families went through the extremely painful process of foreclosure.

Unfortunately, it appears that we have not learned anything from the last go around.  According to the brand new survey that I mentioned above, 69 percent of all Americans have less than $1,000 in savings…

Last year, GoBankingRates surveyed more than 5,000 Americans only to uncover that 62% of them had less than $1,000 in savings. Last month GoBankingRates again posed the question to Americans of how much they had in their savings account, only this time it asked 7,052 people. The result? Nearly seven in 10 Americans (69%) had less than $1,000 in their savings account.

Breaking the survey data down a bit further, we find that 34% of Americans don’t have a dime in their savings account, while another 35% have less than $1,000. Of the remaining survey-takers, 11% have between $1,000 and $4,999, 4% have between $5,000 and $9,999, and 15% have more than $10,000.

Perhaps the most alarming fact from this survey is that 62 percent of all Americans had less than $1,000 in savings last year.  So that means that this number has gotten 7 percent worse over the last 12 months.

How did that happen?  I thought the mainstream media was telling us that the economy was getting better…

Look, if you don’t have an emergency fund you are in danger of losing everything.  This is a point that I have been making over and over again for years, and in an article about this new survey USA Today made this point very strongly as well…

This data is particularly worrisome since the recommendation is for Americans to have six months in expenses saved in case of an emergency, such as a large medical expense, car repair bill, or losing your job. Without this emergency fund to fall back on, millions of Americans could be risking financial disaster.

As the publisher of The Economic Collapse Blog, people are constantly asking me what they should do to get prepared for what is coming.

The number one thing that I always suggest is to build up an emergency fund.

In a chaotic situation it is always hard to anticipate accurately what is going to happen, but without a doubt we are all going to need to continue to pay our bills and to buy things for our families during the next crisis.

Yes, someday the U.S. dollar will become rather worthless, but until that happens you are going to need to continue to put a roof over the heads of your family and to put food on the table.

And you are going to need money to do those things.

Some time ago, the Federal Reserve also found that a large percentage of Americans are living on the edge of financial disaster.  They discovered that 47 percent of all Americans could not even come up with $400 to pay for an unexpected emergency room visit without borrowing the money or selling something that they own.

If you can’t even come up with $400 you are really hurting, but that is the status of about half the country these days.

We are continually being told that the economy is strong, but that is simply not the truth.

In fact, it turns out that the period from 2005 to 2015 was the worst period for per capita real GDP growth in modern American history.  The following comes from Zero Hedge

  1. Growth was unusually strong in the 1960s and early 1970s. In every year from 1966 through 1973, per-capita income was up between 30 percent and 40 percent from a decade earlier. Thus, it’s not surprising that many Americans recall this as a great period for the nation’s economy.
  2. In every year from 1984 to 2007 — a period that economists call the Great Moderation, because of the way both growth and interest rates stabilized — per-person income was up between 20 percent and 30 percent from a decade earlier. That’s ample reason for Americans to view this as a good period for the economy.
  3. Cumulative per-person growth from 2005 to 2015 was lower than in any prior decade in the sample. That certainly helps explain why many Americans are unhappy with the nation’s recent economic performance.

And as I repeat over and over, Barack Obama is on track to be the one and only president in all of American history to never have a single year when the economy grew by at least 3 percent, and he has had eight years to try to accomplish that feat.

Why doesn’t Donald Trump ever bring up that amazing fact?  I would think that he could get a lot of mileage out of that number.

At this point, nobody can deny that the middle class is shrinking.  61 percent of all Americans lived in middle class households in 1971, but now the middle class makes up a minority of the population for the very first time in our history.

Back in 1970, the middle class brought home approximately 62 percent of all income, but today that figure has plummeted to just 43 percent.

Those that are still doing well often dismiss those that are struggling by barking out such phrases as “get a job”, but the truth is that getting a good job is not so easy these days.

The most recent statistics show that there are 7.9 million Americans that are considered to be officially unemployed.  When you add that number to the 94.1 million working age Americans that are considered to be “not in the labor force”, you get a grand total of 102 million working age Americans that do not have a job right now.

And just because you do have a job does not mean that everything is okay.  As I have discussed previously, 51 percent of all U.S. workers make less than $30,000 a year according to the Social Security Administration.

Everywhere you look things seem to be getting worse and not better.  Not too long ago I documented the explosion of tent cities all over the country as poverty continues to rise, and I discussed how one study found that some young women in our impoverished inner cities are so desperate that they are actually trading sex for food.

Sadly, it isn’t just a few hard cases that we are talking about.  Even in areas of the country that are supposed to be “doing well” we are seeing record-setting poverty numbers.  For example, it was recently reported that the number of New Yorkers sleeping in homeless shelters just set a brand new all-time high, and the number of New York families permanently living in homeless shelters is up 60 percent over the past five years.

If things are this bad during an “economic recovery”, what are they going to look like once the economy really starts imploding?

And considering the fact that almost 70 percent of the population has virtually no savings, could our nation handle an extended economic downturn that may be even worse than what we experienced in 2008 and 2009?

As a nation we truly are living on the edge, and it isn’t going to take very much at all to push us into oblivion.

Permanent link to this article: http://discerningthetimes.me/?p=8167

Oct 05

Deutsche Bank Collapse: The Most Important Bank In Europe Is Facing A Major ‘Liquidity Event’

By Michael Snyder, on September 30th, 2016

The largest and most important bank in the largest and most important economy in Europe is imploding right in front of our eyes.  Deutsche Bank is the 11th biggest bank on the entire planet, and due to the enormous exposure to derivatives that it has, it has been called “the world’s most dangerous bank“.  Over the past year, I have repeatedly warned that Deutsche Bank is heading for disaster and is a likely candidate to be “the next Lehman Brothers”.  If you would like to review, you can do so here, here and here.  On September 16th, the Wall Street Journal reported that the U.S. Department of Justice wanted 14 billion dollars from Deutsche Bank to settle a case related to the mis-handling of mortgage-backed securities during the last financial crisis.  As a result of that announcement, confidence in the bank has been greatly shaken, the stock price has fallen to record lows, and analysts are warning that Deutsche Bank may be facing a “liquidity event” unlike anything that we have seen since the collapse of Lehman Brothers back in 2008.

At one point on Friday, Deutsche Bank stock fell below the 10 euro mark for the first time ever before bouncing back a bit.  A completely unverified rumor that was spreading on Twitter that claimed that Deutsche Bank would settle with the Department of Justice for only 5.4 billion dollars was the reason for the bounce.

But the size of the fine is not really the issue now.  Shares of Deutsche Bank have fallen by more than half so far in 2016, and this latest episode seems to have been the final straw for the deeply troubled financial institution.  Old sources of liquidity are being cut off, and nobody wants to be the idiot that offers Deutsche Bank a new source of liquidity at this point.

As a result, Deutsche Bank is potentially facing a “liquidity event” on a scale that we have not seen since the financial crisis of 2008.  The following comes from Zero Hedge

It is not solvency, or the lack of capital – a vague, synthetic, and usually quite arbitrary concept, determined by regulators – that kills a bank; it is – as Dick Fuld will tell anyone who bothers to listen – the loss of (access to) liquidity: cold, hard, fungible (something Jon Corzine knew all too well when he commingled and was caught) cash, that pushes a bank into its grave, usually quite rapidly: recall that it took Lehman just a few days for its stock to plunge from the high double digits to zero.

It is also liquidity, or rather concerns about it, that sent Deutsche Bank stock crashing to new all time lows earlier today: after all, the investing world already knew for nearly two weeks that its capitalization is insufficient. As we reported earlier this week, it was a report by Citigroup, among many other, that found how badly undercapitalized the German lender is, noting that DB’s “leverage ratio, at 3.4%, looks even worse relative to the 4.5% company target by 2018″ and calculated that while he only models €2.9bn in litigation charges over 2H16-2017 – far less than the $14 billion settlement figure proposed by the DOJ – and includes a successful disposal of a 70% stake in Postbank at end-2017 for 0.4x book he still only reaches a CET 1 ratio of 11.6% by end-2018, meaning the bank would have a Tier 1 capital €3bn shortfall to the company target of 12.5%, and a leverage ratio of 3.9%, resulting in an €8bn shortfall to the target of 4.5%.

The more the stock price drops, the faster other financial institutions, investors and regular banking clients are going to want to pull their money out of Deutsche Bank.  And every time there is news about people pulling money out of the bank, that is just going to drive the stock price even lower.

In other words, Deutsche Bank may be entering a death spiral that may be impossible to stop without a government bailout, and the German government has already stated that there will be no bailout for Deutsche Bank.

Banking customers have a total of approximately 566 billion euros deposited with the bank, and even if a small fraction of those clients start demanding their money back it is going to cause a major, major crunch.

Deutsche Bank CEO John Cryan attempted to calm nerves on Friday by releasing a memo to employees that blamed “speculators” for the decline in the stock price

Instead of doing what many have correctly suggested he should be doing, namely focusing on ways to raise more capital for the undercapitalized Deutsche Bank in order to stem the slow (at first) liquidity leak, first thing this morning CEO John Cryan issued another morale-boosting note to employees of Deustche Bank who have been watching their stock price crash to another record low, dipping under €10 in early trading for the first time ever. In the memo the embattled CEO worryingly did what Dick Fuld and other chief executives did when they felt the situation slipping out of control, namely blaming evil “rumor-spreading” shorts, saying “our bank has become subject to speculation. Ongoing rumours are causing significant swings in our stock price. … Trust is the foundation of banking. Some forces in the markets are currently trying to damage this trust.

Just as important, Cryan confirms the Bloomberg report that “a few of our hedge fund clients have reduced some activities with us. That is causing unjustified concerns.” As we explained last night, the concerns are very much justified if they spread to the biggest risk-factor for the German bank: its depositors, which collectively hold over €550 billion in liquidity-providing instruments.

If you would like to ready the full memo, you can do so right here.

One of the reasons why Deutsche Bank is considered to be so systemically “dangerous” is because it has 42 trillion euros worth of exposure to derivatives.  That is an amount of money that is 14 times larger than the GDP of the entire nation of Germany.

Some firms that were derivatives clients of the bank have already gotten spooked and have moved their business to other institutions.  It was this report from Bloomberg that really helped drive down the stock price of Deutsche Bank earlier this week…

The funds, a small subset of the more than 800 clients in the bank’s hedge fund business, have shifted part of their listed derivatives holdings to other firms this week, according to an internal bank document seen by Bloomberg News. Among them are Izzy Englander’s $34 billion Millennium Partners, Chris Rokos’s $4 billion Rokos Capital Management, and the $14 billion Capula Investment Management, said a person with knowledge of the situation who declined to be identified talking about confidential client matters.

“The issue here is now one of confidence,” said Chris Wheeler, a financial analyst with Atlantic Equities LLP in London.

So what comes next?

Monday is a banking holiday for Germany, so we may not see anything major happen until Tuesday.

An announcement of a major reduction in the Department of Justice fine may buy Deutsche Bank some time, but any reprieve would likely only be temporary.

What appears to be more likely is the scenario that Jeffrey Gundlach is suggesting

But Jeffrey Gundlach, chief executive of DoubleLine Capital, said investors betting that Berlin would not rescue Deutsche could find themselves nursing big losses.

The market is going to push down Deutsche Bank until there is some recognition of support. They will get assistance, if need be,’ said Gundlach, who oversees more than $100 billion at Los Angeles-based DoubleLine.

It will be very interesting to see how desperate things become before the German government finally gives in to the pressure.

The complete and total collapse of Deutsche Bank would be an event many times more significant for the global financial system than the collapse of Lehman Brothers was.  Global leaders simply cannot afford for such a thing to happen, but without serious intervention it appears that is precisely where we are heading.

Personally, I don’t know exactly what will happen next, but it will be fascinating to watch

Permanent link to this article: http://discerningthetimes.me/?p=8158

Jul 05

The UK Splitting From The European Union Is Predicted In Bible Prophecy And Is Victory For God. Examining What Lays Ahead

By Walid Shoebat
The red crucifix of the UK emerging out of the EU’s flag of stars in a circle is a great sight to see. Britain’s exit costs the EU one of its wealthiest members and one of its biggest military powers is a sign that the Bible is true’ God ordained nationalism for a reason to keep evil in check. What happens next is not anyone’s guess. In fact it is easily predictable. Prime Minister David Cameron who cyber-rattled against Donald Trump has already announced he will resign after failing to convince voters to stay in the union.
Conservative politicians in France, the Netherlands and other EU member states are calling for similar votes in their countries. Prophecy has already etched the future of Europe as we shall further explain. You do not have to monitor the media which falsely predicted that the UK will remain in order to understand that God’s ways is not man’s.
But first, the EU is weighed down with economic and Muslim migration crises which as we accurately predicted will play a major factor resulting in the Euroskeptic defeating the Eurocentric in the UK. Europe converting to Islam as many predicted is out the window.
The trend we predicted has begun and the clock is turning in reverse of what many falsely predicted.
In the U.S. it will be Trump’s victory of Americanism vs. Hillary’s Globalism. Prophecy teachers for decades were dead wrong on the EU. They spoke of the European Common Market controlling the ‘buying and selling,’ that the EU is “the revived Roman Empire”, that the Eurocentric and the globalist one-world-government was this coming Antichrist, that the single European currency will become the standard, that the Treaty of Rome with all the nonsense will control the world … they were all dead wrong.
In the last three months we saw this coming and pre warned with several detailed articles encouraging you to ignore the false information and to focus on the Euroskeptic defeating the Eurocentric. In the UK, this is exactly what happened and in March we predicted:
“The European Union will first disintegrate as we see this is beginning to happen”.
And on April 3rd, we asked you to focus on the key biblical component:
Evil always starts with abandonment of nationalism (reverse to what God did at Babel) and ends by nationalism (aversion from Babel) and the reversion to nationalism was what brought the Ottoman Empire to collapse as we have seen with the Communist and every other evil empire. It all starts in Genesis and ends in Genesis where the war is between the seed of the woman and the seed of satan is reversed and Babel retreats.
Keeping these principles is key to stop believing in the success of a one world order and we see Europe reverting to nationalism which will eventually defeat globalism’s European Union, while the Muslim is reverting back to Babel attempting a one world language, one world religion (Islam) and one world government (Sharia).
God’s refinement is by reversing the Babel effect where the two (reverse as in Euroskeptic and unite as in Eurocentric) are colliding together. The Euroskeptic results from the massive Muslim locust invasion and the falling away results in Eurocentric.
Even the polls were dead wrong as we predicted. Investors wrongly hedged their bets on polls showing a narrow lead for the ‘Remain in the EU’. Political analyst Peter Kellner, a former president of YouGov, predicted Remain would win by 8.5 per cent on Thursday. Populus had also previously put Remain ahead by 10 points at 55%, against 45% for leaving the EU. Ipsos Mori, for the Evening Standard gave remain a four-point lead at 52%, against 48%. They all predicted the UK will remain in the EU and they were dead wrong.
If polls underestimated right-wing support in the U.K., they could very well be miscalculating it in the U.S. As Bill Kristol said “if polls show Clinton up 5, could Trump be even?”
Polls can be wrong when people vote. When it comes to nationalism, jobs, economy, Trump leads Hillary. Europe is now clinging to nationalism. In April we predicted it warning:
Europe will bust and as the local election in the UK draws near in two weeks on May 5th 2016, the European Union gets closer to the explosion where it enters a crisis level getting us closer to what prophecy foretold.
Indeed, Europe plays a role in end-times, but not as you have been taught in the last few decades and this will not happen quick. This splitting process alongside Muslim unification process will take years and will not happen overnight and will be the subject of the news in the next decade or so. Christ is not returning in 2016 or 2018.
The prophetic question many failed to ask is this: if a one world government is to take place or a European Union is to control the entire continent, how then will God “divide the nations”? How then will “nation war against nation, kingdom against kingdom” and how will God “divide the nations” “sheep from goats”?
For decades people ignored these key verses and have been fed hype about a single currency. Europe in the next decade will face splits galore. Scotland last year forgot the history of William Wallace and voted to remain with the UK to gain benefits breast-feeding from the EU’s udder, and now that the tit is dry they too are entertaining a split from the UK itself.
The U.K. Scotland’s First Minister Nicola Sturgeon said the Scottish National Party would seek to hold a new referendum on secession. Sinn Fein, Northern Ireland’s second-largest party, renewed its calls for a vote there on leaving the U.K. and joining the Republic of Ireland.
Even in Spain, the Spanish want to control the key entry between Muslim north Africa to Europe, the Gibraltar. As soon the the UK voted to split from the EU, Spain’s Foreign Minister, Jose Manuel Garcia-Margallo, stated:
“I hope the formula of co-sovereignity – to be clear, the Spanish flag on the Rock [Gibraltar]– is much closer than before”.
And Germany’s right wing party too wants to split the E.U. saying: “France and southern EU states – Portugal, Spain, Italy and Greece among them – to be banished from Eurozone, as they lack “cultures of stability” like Germany’s.”
So its time to revive my previous article I wrote a month ago to remind you why I insisted on writing on Europe. Few examine prophecies that predict a split in Europe (explained here in detail). Even in Belgium itself, the central headquarters of the EU, there are prophecies that speak of regions like Wallonia which comprise 55% of Belgium and prophecies of civil struggles between Northern and Southern Europe where Germany will turn against France and we have seen official statements coming from Germany’s AfD Alexander Gauland which confirm these predictions.
We are beginning to see the signs of a future split in Europe, even states within states, separating between sheep and goat nations where France, parts of Italy, Spain and Portugal will be destined as sheep nations, while Germany, the Netherlands, Finland and the Baltic states or major parts of these will remain liberal and anti-God to be destined as goat nations. Austria could go sheep or goat, we do not know.
And if in doubt that these prophecies are just archaic fairytale, just look at what Germany’s Gauland said last month:
“We [Germany] can have a common currency with the Netherlands, Austria, Finland or Baltic states. They have similar cultures of stability like ours, but the French have a different one, not to mention the Italians, Spaniards, Portuguese and Greeks. They don’t want austerity at all.”
The remarks made by the AfD deputy leader Alexander Gauland and party’s federal spokesman and co-leader Joerg Meuthen in the interview to German Frankfurter Allgemeine Zeitung says it all.
And just in case you still persist in your view that south splitting from north as religious folktale, here is one major secular strategist, Stratfor’s renown George Friedman, just last month, he says that France will break up with Germany and will lead a “Mediterranean bloc”:
Alternatively, France could become the leader of a Mediterranean bloc, splitting the eurozone in two (with a “northern euro” and a “southern euro“) or reinstating separate national currencies.
And if Christ “goes with the whirlwinds of the south,” as Zechariah 9:13 predicted, in Europe, it will be the same, where south will go against north.
And while many focus on Germany’s Merkel lack of popularity, this matters little. Even if Germany be ruled by the right like the AfD or by Merkel, the writing is on the wall; Germany wants to rule the EU and wants some European states to leave while it cuddles up to the goat nation of Turkey getting further from what will become the sheep nation of France. Alexander Gauland added that it was good for Paris to share the common currency, “but if it will not or cannot afford that economically, then one must find other structures.”
What other structures? Besides the coming split between Germany and France, recent reports show that German Air Force is reportedly having its own section at the Turkish Incirlik Air Base regardless that Turkey has gone to such low that it is now refusing entry to any foreign journalists and they are doing it without providing any explanation for its actions.
The Muslim immigration has played the agent for a major shift in Europe. Even in Austria reports reveal:
“The migrant crisis has divided the country and, in a major U-turn, the government, who initially backed German chancellor Angela Merkel’s open-door policy, shut Austria’s borders.”
Things are shifting in Austria where the conservative right are gaining momentum:
“Norbert Hofer, the candidate for Austria’s right-wing Freedom Party (FPÖ), won 36.4 per cent of the vote”.
Is it possible that Germany resorted to its historic evils and have brought in the Muslim immigrants to create a shift? The leading power in Austria are “anti-immigrant and anti-European Union”. Austria is now even mimicking the U.S. where “gun ownership has been on the rise in Austria” as result of Muslim immigration. Showing the far right’s growing confidence in Europe, Marine Le Pen, leader of France’s National Front, hailed a “beautiful result”, writing on Twitter: “Bravo to the Austrian people”. FPÖ leader Heinz-Christian Strache said:
“This is the beginning of a new political era. Today political history is being written in Austria.”
We have been telling you this before. Even in the U.S. from when Donald Trump first announced his desire to run with as low as 4% approval, we went against the tide and accurately predicted his rise over a year ago. Westerners get super tired of traditional parties.
Hope is on the horizon, but this will take a decade or so and will not be easy.
And in France, which is the Eurozone’s second-biggest economy, bested only by Germany, it has been struggling to reduce both its national debt and an unemployment rate of 10.2 percent. French President Francois Hollande’s latest labor reforms were not met with enthusiasm in the country, which has seen a wave of violent protests rolling through Paris, Nantes and other cities.
In France, one of our main focus nations, French voters, like in the U.S. are also disenchanted with traditional political parties setting the course of the country’s future and that of splitting from the European Union as a whole.
WHAT LAYS AHEAD
It will take several years for sheep nations to split from goat nations. While the splits begin as result of national interest, it will take time and much turmoil to revive its Christian spirit which will only happen as gold is refined–through fire. This fire will be an internal revolution with Islam. It was France that was the forerunners to the European Union. The French however are stiff-necked and always guarded their national sovereignty’s jealously rejecting initiatives that could weaken France’s autonomy refusing to create a European Defense Community.
One nation out of several, that the wise French Yves Dupont, the collector of saintly prophecies after studying volumes from reputable saints said that it will be from “France that the Great King, according to all prophecies, will begin his work” to defeat the invasion from Hagar (Islam):
“… Then will the people of the half-moon of the tribe of Agar … will stay three years destroying everything. Yet, in the third year, will one of the unconquerable Eagles who reigns over the enlightened nation between the Rhine and the North Sea” [France].
“Revolution will break out in Italy almost at the same time as in France. For some time, the Church will be without a Pope. England, too, will have much to suffer”
Even Ezekiel speaks of “the young lions” (from Europe and the U.S.) speaking out against Gog (Ezekiel 38:13). One must wonder why God gave us types of fulfillment in past history to be replicated in the coming war with Islam when France under Charles Martel (the Hammer), who stopped Abdul-Rahman Al-Ghafiqi at the battle of Pottier. Christianity, like the Old Testament is not void of the heroism of the older hammer, the Maccabees (Maccabee literally means ‘hammer’). Christianity is the continuation of true Judaism all with its heroic action. The Church is not just singing hymnals.
This will be repeated when “Hagar/Agar” as Monk Hilarion predicted, will rise again. John also predicted as well in Revelations, with the “wounded beast,” and for over three years (as Daniel also predicted) will rain hell on earth to desecrate the Christian Communion.
France is concerned about the political influence that its neighbor’s economic power Germany has yielded after the eurozone crisis especially that Germany has become Europe’s political beacon.
But despite Germany’s rise, France is still a fundamentally wealthy nation whose global reach knows no rival in Europe and is blessed to have some of the highest birthrates in Europe and in time it will probably have the largest population on the Continent. God is planning this for a reason.
And with the largest Muslim community in Western Europe, France will soon explode into nationalism and bloody civil unrest as a reaction to the role of Muslims in Europe. And as Germany will keep relations with Turkey, and if and when the E.U under Germany receives Turkey with open arms, this will flood whatever is left of the E.U with Muslim immigration where Germany eventually will elect a clandestine Muslim Obama type just as we had in the U.S.
As the bridge between Northern and Southern Europe falls, France will continue to play an important role on the Continent. Why France is crucial is that France is the bridge between northern Europe and southern Europe just as Turkey (the gatekeeper to the Black and Mediterranean seas) is the bridge between Asia and Europe.
And as we see Muslim immigration into the western promised land splitting southern Europe from northern, France becomes a key player since without it, there cannot be a unified Europe.
France is the focus of so many predictions where it will face Germany. This will start by an Obama like-figure elected in Germany. This is not far-fetched. Who would have ever dreamt that the most powerful nation on earth would be ruled by a clandestine Muslim named Barack son of Hussein bin Obama who was well disguised as Christian? The Muslims have caught up with this brilliant tactic and a repeat of this could happen in Germany. In fact, it is etched in an Old Saxon prediction which talks of an Obama-like figure who claims Christianity yet he is a Turk and will rule Germany while France will refine to combat this axis of evil:
“The Dog shall enter Germany but shall afterwards forsake his master and choose for himself a new man, whereby Scripture shall be fulfilled. This Dog shall signify the Turk which shall forsake his Mohammed and choose unto him the name Christian, which is a sign the day of doom is at hand, when all the earth is subject unto God, or that all people acknowledge one only God. The Fleur-de-Lys (lily) and France shall live long at variance, but at last agree. Then shall the clear Word spring forth and flourish throughout the world.”
What the signs tell us from the news are the same signs that are showing from prophecy. France has so many saints predict will rise to shine while Germany will collaborate with the Muslim as they did in the days of the Calvinists and later with Hitler.
If one follows these prophecies, Belgium will split, north Italy from southern Italy, Spain could also have a split which it is already doing as I write. In Europe Separatism and Regionalism is a growing phenomenon. Europe’s artificial construct and the French aren’t so keen on Germans telling them it’s time to lose their sovereignty. Many European states reject Germany’s control with its Baltic and European sidekicks.
The way prophecy works is simple. Nationalism is God made planed right after the Tower of Babel stopping any One World Order attempts. The Italians, Spaniards, Portuguese and even the English are feeling enormous closeness to Tsipras of Greece where northern Europe is polarized against southern Europe.

Permanent link to this article: http://discerningthetimes.me/?p=8022

Jun 29

We Just Witnessed The Greatest One Day Global Stock Market Loss In World History

By Michael Snyder, on June 26th, 2016
More stock market wealth was lost on Friday than on any other day in world history. As you will see below, global investors lost two trillion dollars on the day following the Brexit vote. And remember, this is on top of the trillions that global investors have already lost over the past 12 months. It is important to understand that the Brexit vote was not the beginning of a new crisis – it has simply accelerated a global financial crisis that started last year and that was already in the process of unfolding. As I noted on Friday, we have been waiting for “the next Lehman Brothers moment” that would really unleash fear and panic globally, and now we have it. The next six months should be absolutely fascinating to watch.
According to CNBC, the total amount of money lost on global stock markets on Friday surpassed anything that we had ever seen before, and that includes the darkest days of the financial crisis of 2008…
Worldwide markets hemorrhaged more than $2 trillion in paper wealth on Friday, according to data from S&P Global, the worst on record. For context, that figure eclipsed the whipsaw trading sessions of the 2008 financial crisis, according to S&P analyst Howard Silverblatt.
The prior one day sell-off record was $1.9 trillion back in September of 2008, Silverblatt noted. According to S&P’s Broad Market Index, combined market capitalization is currently worth nearly $42 trillion.
And of course many of the wealthiest individuals on the planet got absolutely hammered. According to Bloomberg, the 400 richest people in the world lost a total of $127.4 billion dollars on Friday…
The world’s 400 richest people lost $127.4 billion Friday as global equity markets reeled from the news that British voters elected to leave the European Union. The billionaires lost 3.2 percent of their total net worth, bringing the combined sum to $3.9 trillion, according to the Bloomberg Billionaires Index. The biggest decline belonged to Europe’s richest person, Amancio Ortega, who lost more than $6 billion, while nine others dropped more than $1 billion, including Bill Gates, Jeff Bezos and Gerald Cavendish Grosvenor, the wealthiest person in the U.K.
Could you imagine losing a billion dollars on a single day?
I am sure that Bill Gates and Jeff Bezos are not shivering in their boots quite yet, but what if the markets keep on bleeding like they did in 2008?
On the other hand, globalist magnate George Soros made a ton of money on Friday because he had positioned himself for a Brexit ahead of time. The following comes from the London Independent…
The billionaire who predicted Brexit would bring about “Black Friday” and a crisis for the finances of ordinary people appears to have profited hugely from the UK’s surprise exit from the EU.
George Soros is widely known as the man who “broke” the Bank of England in 1992, when he bet against the pound and made a reported £1.5bn.
Although the exact amount Mr Soros has gained after Brexit is not known, public filings show he doubled his bets earlier this year that stocks would fall.
What’s next? From a game theory perspective, the EU and ECB need to crush the UK. It’s like the Greek debt negotiations … it was never about Greece, it was always about sending a signal that dissent and departure will not be tolerated to the countries that matter to the survival of the Eurozone (France, Italy, maybe Spain). Now they (and by “they” I mean the status quo politicians throughout the EU, not just Germany) are going to send that same signal to the same countries by hurting the UK any way they can, creating a Narrative that it’s economic death to leave the EU, much less the Eurozone. It’s not spite. It’s purely rational. It’s the smart move.
The elite need a crisis now in order to show everyone that globalism is the answer and not the problem. If the British people were allowed to thrive once they walked away, that would only encourage more countries to go down the exact same path. This is something that the elite are determined to avoid.
The Brexit vote has barely sunk in, and Bank of America and Goldman Sachs are already projecting a recession for the United Kingdom. Sadly, I believe that this is what we will see happen.
But it won’t just be the British that suffer.
On Friday, European banking stocks had their worst day ever. In particular, Deutsche Bank fell an astounding 17.49 percent to an all-time record closing low of 14.72. I have warned repeatedly about the implosion of Deutsche Bank, and this crisis could be the catalyst for it.
In addition, I have repeatedly warned about the slow-motion meltdown that is happening in Japan. On Friday, Japanese stocks lost 1286 points, and the yen surged in the exact opposite direction that the government is trying to send it…
Tokyo, we have a problem.
Last week, market tumult stemming from the U.K.’s vote to quit the European Union drove the British pound to its weakest levels in three decades.
Yet it also sent investors flocking to traditional safe haven assets like the U.S. dollar, gold and the yen, the latter surging against every major currency as the results of Brexit became clear: Dollar/yen spiked from a Thursday high near 107 to a two-year low near 99.
Just like in 2008, there will be days when global markets will be green. When that happens, it will not mean that the crisis is over.
If you follow my work closely, then you know that it is imperative to look at the bigger picture. Over the past 12 months, there have been some very nice market rallies around the world, but investors have still lost trillions of dollars overall.
What happens on any one particular day is not the story. Rather, the key is to focus on the long-term trends.
And without a doubt, this Brexit vote could be “the tipping point” that greatly accelerates our ongoing woes…
“Brexit is the biggest global monetary shock since 2008,” said David Beckworth, a scholar at the Mercatus Center at George Mason University, in a blog post on Friday. “This could be the tipping point that turns the existing global slowdown of 2016 into a global recession.”
We were already dealing with a new global economic crisis without the Brexit vote. But what this does is it introduces an element of panic and fear that had been missing up until this current time.
And markets do not like panic and fear very much. In general, markets tend to go up when things are calm and predictable, and they tend to go down when chaos reigns.
Unfortunately, I believe that we are going to see quite a bit more chaos for the rest of 2016, and the trillions that were lost on Friday may turn out to be just the tip of the iceberg.

Permanent link to this article: http://discerningthetimes.me/?p=8018

Jun 26

Black Friday: Shocking Brexit Vote Result Causes The 9th Largest Stock Market Crash In U.S. History

By Michael Snyder, on June 24th, 2016
Has the next Lehman Brothers moment arrived? Late Thursday night we learned that the British people had voted to leave the European Union, and this could be the “trigger event” that unleashes great financial panic all over the planet. Of course stocks have already been crashing all over the globe over the past year, but up until now we had not seen the kind of stark fear that the crash of 2008 created following the collapse of Lehman Brothers. The British people are certainly to be congratulated for choosing to leave the tyrannical EU, and if I could have voted I would have voted to “leave” as well. But just as I warned 10 days ago, choosing to leave will “throw the entire continent into a state of economic and financial chaos”. And “Black Friday” was just the beginning – the pain from this event is going to continue to be felt for months to come.
The shocking outcome of the Brexit vote caught financial markets completely off guard, and the carnage that we witnessed on Friday was absolutely staggering…
-The Dow Jones Industrial Average plunged 610 points, and this represented the 9th largest one day stock market crash in the history of the Dow.
-The Nasdaq was hit even harder than the Dow. It declined 4.12 percent which was the biggest one day decline since 2011.
-Overall, Black Friday erased approximately 800 billion dollars of stock market wealth in the United States.
-Thursday was the worst day ever for the British pound, and investors were stunned to see it collapse to a 31 year low.
-Friday was the worst day ever for European banking stocks.
-Friday was the worst day for Italian stocks since 1997.
-Friday was the worst day for Spanish stocks since 1987.
-Japan experienced tremendous chaos as well. The Nikkei fell an astounding 1286 points, and this was the biggest drop that we have seen in more than 16 years.
-Banking stocks all over the planet got absolutely pummeled on Black Friday. The following comes from USA Today…
Stocks of some British-based banks suffered double-digit losses in heavy U.S. trading. Barclays (BCS) shares plunged 20.48% to close at $8.89. HSBC (HSBC) shares closed down 9.04% at $30.68. And shares of Royal Bank of Scotland (RBS) plummeted 27.5% to a $5.43 close.
Top U.S. banks also suffered from the Brexit fallout, although not as badly as their British counterparts.
Shares of JPMorgan Chase (JPM) closed down 6.95% at $59.60. Bank of America (BAC) shares fell 7.41% to a $13 close. Citigroup (C) shares dropped 9.36% to close at $40.30. And Wells Fargo (WFC) closed 4.59% lower at $45.71.
-Friday was the best day for gold since the collapse of Lehman Brothers.
-George Soros made a killing on Black Friday because he had already positioned his company to greatly benefit from the Brexit vote ahead of time.
But please don’t think that “Black Friday” was just a one day thing. As I warned before, the Brexit vote “could be the trigger that changes everything“. And if you don’t believe me on this, perhaps you will listen to former Federal Reserve Chairman Alan Greenspan. This is what he told CNBC on Friday…
“This is the worst period, I recall since I’ve been in public service,” Greenspan said on “Squawk on the Street.”
“There’s nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away.”
I completely agree with Greenspan on this point. This “corrosive effect” on global markets is not going to go away any time soon. Sure there will be days when the markets are green just like there were after the collapse of Lehman Brothers, but overall the trend will be down.
Now that the United Kingdom has decided to leave the EU, financial markets have been gripped by fear and uncertainty, and there is a great deal of concern that this Brexit “could harm the economies of everyone involved”…
Important British trading partners — including India and China — indicated they were worried that an exit would create regulatory and political volatility that could harm the economies of everyone involved.
The U.K.’s Treasury itself reported that its analysis showed the nation “would be permanently poorer” if it left the EU and adopted any of a number of likely alternatives. “Productivity and GDP per person would be lower in all these alternative scenarios, as the costs would substantially outweigh any potential benefit of leaving the EU,” a summary of the report said.
This threat even extends to the United States. CNN just published an article that lists four ways the U.S. could be significantly affected by all of this…
1. Fears that the EU may be falling apart
2. Volatile markets slow down the engine of U.S. growth
3. Brexit triggers a strong dollar, which hurts U.S. trade
4. Brexit forces the Fed to rewrite its rate hike playbook
Fortunately we are now heading into the weekend, and that might have a calming effect on the markets.
Or it might just cause financial tension to build up to an extremely high level which will subsequently be released on Monday morning.
We shall see.
RCB’s Charlie McElligott is warning that Black Friday was just the beginning and that “today is the appetizer for Monday”.
And UBS derivatives strategist Rebecca Cheong says that we could see more than a hundred billion dollars of selling over the next two to three trading days…
Strategies designed to mitigate risk will actually add to downward pressure in the S&P 500 over the next week as computerized selling ramps up to keep pace with falling prices. It reminds Cheong of the rapid stock selling that roiled markets in August, when the S&P 500 fell 11 percent to a 10-month low while facing similar behavior from algorithmic traders.
“The bigger the down move today, the more they have to sell, which would basically create a vicious cycle,” Cheong, head of Americas equity derivatives strategy at UBS, said in a phone interview. “We’ll see front-loaded selling in the range of $100 billion to $150 billion over the next two to three days. It could be very similar to August in terms of model-based selling.”
Personally, I am hoping for calm when the markets open on Monday. But without a doubt, something has now shifted as a result of this Brexit vote, and things have suddenly become a whole lot more serious.

Permanent link to this article: http://discerningthetimes.me/?p=8011

Apr 20

Corporations Are Defaulting On Their Debts Like It’s 2008 All Over Again

Corporations Are Defaulting On Their Debts Like It’s 2008 All Over Again
By Michael Snyder, on April 18th, 2016
The Dow closed above 18,000 on Monday for the first time since July. Isn’t that great news? I truly wish that it was. If the Dow actually reflected economic reality, I could stop writing about “economic collapse” and start blogging about cats or football. Unfortunately, the stock market and the economy are moving in two completely different directions right now. Even as stock prices soar, big corporations are defaulting on their debts at a level that we have not seen since the last financial crisis. In fact, this wave of debt defaults have become so dramatic that even USA Today is reporting on it…
Get ready to step over some landmines, investors. The number of companies defaulting on their debt is hitting levels not seen since the financial crisis, and it’s not just a problem for bondholders.
So far this year, 46 companies have defaulted on their debt, the highest level since 2009, according to S&P Ratings Services. Five companies defaulted this week, based on the latest data available from S&P Ratings Services. That includes New Jersey-based specialty chemical company Vertellus Specialties and Ohio-based iron ore producer Cliffs Natural. Of the world’s defaults this year, 37 are of companies based in the U.S.
Meanwhile, coal producer Peabody Energy (BTU) and surfwear seller Pacific Sunwear (PSUN) this week filed plans for bankruptcy protection. Shares of Peabody have dropped 97% over the past year to $2 a share and Pacific Sunwear stock is off 98% to 4 cents a share.
A lot of big companies in this country have fallen on hard times, and it looks like bankruptcy attorneys are going to be absolutely swamped with work for the foreseeable future.
So why are stock prices soaring right now? After all, it doesn’t seem to make any sense whatsoever.
And it isn’t just a few bad apples that we are talking about. All across the spectrum, corporate revenues and corporate earnings are down. At this point, earnings for companies on the S&P 500 have plunged a total of 18.5 percent from their peak in late 2014, and it is being projected that corporate earnings overall will be down 8.5 percent for the first quarter of 2016 compared to one year ago.
As earnings decline, a lot of big companies are getting into trouble with debt, and we have already seen a very large number of corporate debt downgrades. In recent interviews, I have been bringing up the fact that the average rating on U.S. corporate debt has now fallen to “BB”, which is already lower than it was at any point during the last financial crisis.
A lot of people don’t seem to believe me when I share that fact, but it is absolutely true.
One of the big reasons why corporate debt is being downgraded is because a lot of these big companies have been going into enormous amounts of debt in order to buy back their own stock. The following comes from Wolf Richter…
Downgrades ascribed to “shareholder compensation,” as Moody’s calls share buybacks and dividends, have been soaring, according to John Lonski, Chief Economist at Moody’s Capital Markets Research. The moving 12-month sum of Moody’s credit rating downgrades of US companies, jumped from 32 in March 2015, to 48 in December 2015, and to 61 in March 2016, nearly doubling within a year.
The last time the number of downgrades attributed to financial engineering reached 61 was in early 2007. It would hit its peak of 79 in mid- 2007, a few months before the beginning of the Great Recession in Q4 2007. At the time, stocks were on the verge of commencing their epic crash.
When corporations go into the market and buy back their own stock, they are slowly cannibalizing themselves. But we have seen these stock buybacks soar to record levels for a couple of reasons. Number one, big investors want to see stock prices go up, and so big investors tend to really like these stock buybacks and will generally support corporate executives that wish to engage in doing this. Number two, if you are a greedy corporate executive that is heavily compensated by stock options, you very much want to see the stock price go up as well.
So the name of the game is greed, and stock buybacks have been fueling much of the rise in U.S. stock prices that we have been seeing recently.
However, the truth is that nothing in the financial world lasts forever, and this irrational bubble will ultimately come to an end as well.
Earlier today, I am across an article that included a comment from Michael Hartnett of Bank of America Merrill Lynch. He believes that there are a lot of parallels between what is happening today and the period of time that immediately preceded the bursting of the dotcom bubble…
Back then, as could be the case today, a bull market & a US-led economic recovery was rudely interrupted by a crisis in Emerging Markets. The crisis threatened to hurt Main Street via Wall Street (the Nasdaq fell 33% between Jul-Oct 1998, when [Long-Term Capital Management] went under). Policy makers panicked and monetary policy was eased (with hindsight unnecessarily). Fresh liquidity combined with apocalyptic investor sentiment very quickly morphed into a violent but narrow equity bull market/bubble in 1998/99, one which ultimately took valuations & interest rates sharply higher to levels that eventually caused a “pop”.
Like Hartnett, I definitely believe that a major “pop” is on the way, although I would like for it to be delayed for as long as possible.
Someday we will look back on these times with utter amazement. It has been absolutely incredible how the financial markets have been able to defy economic reality for so long.
But they can’t do it forever, and according to a brand new CNN survey Americans are becoming increasingly pessimistic about where the real economy is heading…
In a new CNNMoney/E*Trade survey of Americans who have at least $10,000 in an online trading account, over half (52%) gave the U.S. economy as a “C” grade. Another 15% rated the economy a “D” or “F.”
This gloom persists despite the fact that the stock market is on the upswing again. The Dow topped 18,000 Monday for the first time since July 2015.
If some Americans think that the U.S. economy deserves a “D” or an “F” grade right now, just wait until they see what is in our immediate future.
Personally, I give our economy an “A” for being able to maintain our unsustainable debt-fueled standard of living for as long as it has. Somehow we have managed to consume far more than we produce for decades, and the largest debt bubble in the history of the planet just keeps getting bigger and bigger and bigger.
Of course we are very much living on borrowed time at this point, but I truly hope that the bubble economy can keep going for at least a little while longer, because nobody should want to see what is coming afterwards.

Permanent link to this article: http://discerningthetimes.me/?p=7900

Apr 18

Will April 19th Events Lead To Summer Chaos? CEO Of JPMorgan Chase Has Ominous Warning For America Of Economic Tragedy On Horizon

‘If We Get Lulled Into A False Sense Of Security, It’s Going To Be Too Late’

By Stefan Stanford – All News Pipeline – Live Free Or Die

Less than 2 weeks ago, ANP told you that there are more and more signs of ‘coming mayhem’ with nearly 1 out of every 3 Americans now unable to cover basic necessities. The story from Michael Snyder over at the Economic Collapse Blog tells us that global leaders across the planet are beginning to panic as the reality of the global collapse happening now begins to set in. Telling us that we’re only now beginning to witness the “opening chapters of a crushing economic crisis that will affect every man, woman and child in the entire world”, Snyder continues to break down the signs that the mainstream media is now just beginning to cover, and for once actually using the term ‘economic collapse’, at least to describe what’s now happening in South America.

According to two CEO’s of major US companies including insider Jamie Dimon, the CEO of JPMorgan Chase, economic tragedy is surely on the horizon. CEO Keith Neumeyer, one of the world’s top primary silver producers First Majestic Silver and the Chairman of mineral bank firm First Mining Finance, tells SGT Report, “there’s going to be a major revolt” and “we could well see riots in the streets” in the 2nd video . Neumeyer’s warning combined with a new SQAlert from the website of Steve Quayle republished below could be huge indicators of future stress and unrest in the financial world as China has announced a gold-backed yuan to be unveiled April 19th. Combined with warnings of ‘elite blood sacrifices’ for this period of time offer Americans another opportunity to be prepared for absolutely anything to happen.

With the final months of Barack Obama’s presidency combined with the chaotic politics we’re now seeing within both the Democratic and Republican parties as well as emergency meetings undertaken between Obama, Biden, members of the Federal Reserve and elitist bankers from around the world, we feel that we’re near that boiling point where absolutely anything is possible. As past history during this time period indicates, a false flag or something horrific is a possibility any time in the near future into this summer and through the November election. The new SQAlert.:

HEADS UP ON THE 19TH – CHINA HAS ANNOUNCED GOLD BACKED YUAN ON THIS DATE, WILL THIS ANNOUNCEMENT SYNC, WITH ALL THE WARNINGS CONCERNING PENDING TERROR ATTACKS?
THE TENSION BEHIND THE SCENES BETWEEN THE U.S. AND CHINA IS BUILDING AND THIS MAY BE THE REASON FOR THE EMERGENCY MEETING BETWEEN OBAMA AND BIDEN TODAY WITH JANET YELLEN. CONSIDER IF YOU WILL THE OUTCOME OF THE CHINESE GOLD BACKED YUAN WHEN CHINA RELEASES THEIR TRUE GOLD HOARD NUMBERS TO THE WORLD AND ALLOW INDEPENDENT AUDIT. REAL WORLD NUMBERS, OF THOSE IN THE KNOW ESTIMATE BETWEEN 19-29 THOUSAND TONS! STRATEGIC DECEPTION BY THE CHINESE IN STATING VERY LOW NUMBERS OF TONNAGE HAVE ENABLED THEM TO ACQUIRE GOLD AND SILVER AT HISTORICALLY LOW PRICES OVER THE LAST 5 YEARS – THE U.S. HAS NO GOLD RESERVES ANY LONGER TO MATCH THE CHINESE – COUPLED WITH ALL THE APRIL 19TH EVENTS SOMETHING HAS CHANGED LAST NIGHT IN THE OVERSEAS GOLD AND SILVER MARKETS – COULD WE BE FACED WITH A MASSIVE US DOLLAR DEVALUATION COUPLED WITH ORCHESTRATED TERROR EVENTS IN SPECIFIC WORLD CITIES INCLUDING THE UNITED STATES? I AM GOING LONG TODAY, MEANING BUYING ADDITIONAL PHYSICAL METALS, AND EVEN IF THE PAPER MARKET SHORTS SELL THEIR PAPER GOLD AND SILVER TO SKIM THE LAST PROFITS POSSIBLE, THERE WILL COME A TIME AFTER SUCH ANNOUNCEMENT WHERE LESS AND LESS PHYSICAL METALS ARE AVAILABLE FOR PURCHASE – WHEN THE AMERICAN PUBLIC FINALLY GETS IT – IT WILL BE TOO LATE – CALL US AT 406-586-4840 AND GET WHAT YOU CAN AFFORD WHILE YOU CAN – STEVE
As Gary Franchi of the Next News Network tells us in the 1st video below, Jamie Dimon, the CEO of JPMorgan Chase has just issued a very ominous warning to America and the world of ‘economic tragedy’ upon the horizon. As Franchi drives into our head, the fact that a major CEO of a financial institution is telling us that economic tragedy is imminent is something that we need to take heed of….”if we get lulled into a false sense of security, it’s going to be too late.”
Over at Zero Hedge we have several recent stories including a warning from Bill Dudley, the President of the extremely powerful New York Federal Reserve Bank that ‘the American dream has left the house and gone abroad’ just the latest concrete sign of where this is all headed while another Zero Hedge story tells us that the problems that we face are unfixable. We also learn from Zero Hedge and the former Chief Economist with the IMF that Japan’s economic endgame scenario is now in play. How long before the same thing is happening here?

It may soon be too late for the msm to admit what’s happening here in America and the western world as the rich have begun fleeing Chicago amid racial strife and the city turning into a ‘crime infested hellhole’ according to this story at The Daily Sheeple. Will America ever see any real change? As we learn in the final video below featuring Bill Holter with Future Money Trends, “when control is lost, world markets will crash in 24 hours.” We’re also warned why we need precious metals if we’re to weather that coming storm: “Gold and silver is God’s money” we are told.
As SGT Report echos, there is no incentive for them to change the system except for the time when people actually do reach their boiling point and start to march in the streets because they’ve been thrown under the bus for much too long.
And when those riots do start, just as Zero Hedge previously reported during the Greek riots, the price of physical precious metals versus the bank manipulated paper prices will skyrocket. In 2010 the price difference between the two was as high as 40% above the paper spot price as Greeks scrambled for real money in the midst of their country’s collapse.
Things will be no different in America when a jobless, hungry, and marginalized majority takes to the streets. When that comes to pass we will see the real value of physical silver and gold emerge, and you can be almost certain that it will be significantly higher than the suppressed paper prices the banks want us to believe.

Permanent link to this article: http://discerningthetimes.me/?p=7892

Apr 12

Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic

By Michael Snyder, on April 10th, 2016
Mainstream news outlets are already starting to use the phrase “economic collapse” to describe what is going on in some areas of our world right now. For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last year is starting to get a lot worse. In this article, we are going to examine evidence of this from South America, Europe, Asia and North America. Once we are done, it should be obvious that there is absolutely no reason to be optimistic about the direction of the global economy right now. The warnings of so many prominent experts are now becoming a reality, and what we have witnessed so far are just the early chapters of a crushing economic crisis that will affect every man, woman and child in the entire world.
Let’s start with Brazil. It has the 7th largest economy on the entire planet, and it is already enduring its worst recession in 25 years. In fact, at the end of last year Goldman Sachs said that what was going on down there was actually a “depression“.
But now the crisis in Brazil has escalated significantly.
I want to share with you an excerpt from a recent article entitled “Brazil: Economic collapse worse than feared“. I know, that title sounds like it comes directly from The Economic Collapse Blog, but I didn’t write it.
It actually comes from CNN…
Amid political chaos, Brazil’s economic collapse is worse than its government once believed.
In the midst of rising calls to impeach President Dilma Rousseff, Brazil’s central bank announced Thursday that it now expects the country’s economy to shrink 3.5% this year.
That’s worse than the central bank’s previous estimate for a 1.9% contraction. The darker forecast matches what the International Monetary Fund projected for Brazil — Latin America’s largest country — and what many independent economists have suspected.
It is one thing for Michael Snyder to tell you that Brazil is in the midst of “economic collapse”, but it is another thing entirely for CNN to say it.
And of course I have been warning about the crisis down in Brazil for quite some time now. For much more on this, please see my previous article entitled “The Economic Collapse Of South America Is Well Underway“.
Meanwhile, things are actually much worse in Venezuela than they are in Brazil. Food and basic supplies are in short supply, the inflation rate has hit 720 percent, and crime is completely out of control.
The following is from an article in the Independent entitled “Venezuela is on the brink of complete economic collapse“…
The only question now is whether Venezuela’s government or economy will completely collapse first.
The key word there is “completely.” Both are well into their death throes. Indeed, Venezuela’s ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it’s hard to see that getting any better for them any time soon — or ever.
Incumbents, after all, don’t tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It’s no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt.
Once again we see a very respected mainstream publication using the phrase “economic collapse” to describe what is happening in South America.
You can find some stunning video of the “economic Armageddon” that is taking place in Venezuela right here. I would encourage you to watch that video, because what is happening down there will eventually be happening here.
Meanwhile, over in Europe the collapse of the Italian banking system has entered a disturbing new chapter. Italy’s finance minister has called a meeting in Rome for Monday that will be focusing on a “last resort” bailout plan for the troubled banks…
Finance minister Pier Carlo Padoan has called a meeting in Rome on Monday with executives from Italy’s largest financial institutions to agree final details of a “last resort” bailout plan.
Yet on the eve of that gathering, concerns remain as to whether the plan will be sufficient to ringfence the weakest of Italy’s large banks, Monte dei Paschi di Siena, from contagion, according to people involved in the talks.
Italian bank shares have lost almost half their value so far this year amid investor worries over a €360bn pile of non-performing loans — equivalent to about a fifth of GDP. Lenders’ profitability has been hit by a crippling three-year recession.
As Italy descends into financial chaos, the rest of the continent better be paying attention.
Do you remember how hard it was for the rest of Europe to rescue Greece?
Well, Greece has the 44th largest economy on the planet.
Italy has the 8th.
It would be hard to overstate the seriousness of what is going on over in Europe, and it is not just Italy we are talking about. All over the continent major banks are in deep trouble, and the chairman of France’s second largest retail bank recently told reporters that “I am much more worried than I was in 2009“.
And there is very good reason for concern. On Sunday, we learned that a major “bail-in” had just been announced for one of Austria’s most prominent banks. The following comes from Zero Hedge…
And then today, following a decision by the Austrian Banking Regulator, the Finanzmarktaufsicht or Financial Market Authority, Austria officially became the first European country to use a new law under the framework imposed by Bank the European Recovery and Resolution Directive to share losses of a failed bank with senior creditors as it slashed the value of debt owed by Heta Asset Resolution AG.
The highlights from the announcement:
Today, the Austrian Financial Market Authority (FMA) in its function as the resolution authority pursuant to the Bank Recovery and Resolution Act (BaSAG – Bundesgesetz über die Sanierung und Abwicklung von Banken) has issued the key features for the further steps for the resolution of HETA ASSET RESOLUTION AG. The most significant measures are:
• a 100% bail-in for all subordinated liabilities,
• a 53.98% bail-in, resulting in a 46.02% quota, for all eligible preferential liabilities,
• the cancellation of all interest payments from 01.03.2015, when HETA was placed into resolution pursuant to BaSAG,
• as well as a harmonisation of the maturities of all eligible liabilities to 31.12.2023.
According to the current resolution plan for HETA, the wind-down process should be concluded by 2020, although the repayment of all claims as well as the legally binding conclusion of all currently outstanding legal disputes will realistically only be concluded by the end of 2023. Only at that point will it be possible to finally distribute the assets and to liquidate the company.
The dominoes are starting to fall in Europe, and I would expect even bigger announcements in the weeks and months to come.
Over in Asia, economic chaos is beginning to prevail as well.
In China, the stock market is already down more than 40 percent from the peak, Chinese exports were down 25.4 percent on a year over year basis in February, and Chinese economic numbers overall have not been this poor since the depths of the last global recession.

At the same time, the Japanese economy is really struggling right now. As I wrote about the other day, Japanese GDP has shrunk for two out of the last three quarters, we just saw Japanese industrial production experience the biggest one month decline that we have witnessed since the tsunami of 2011, and business sentiment has fallen to a three year low. The Nikkei has dropped by about 5,000 points from where it was last summer, and some analysts believe that Japanese markets “are being destroyed” due to massive intervention by the Bank of Japan.
Here in the United States, we haven’t been hit quite as hard as the rest of the world just yet, but there are lots of very disturbing warning signs all around us.
At the end of last week, we learned that it is being projected that U.S. GDP will have grown by just 0.1 or 0.2 percent during the first quarter of 2016. And on Monday corporate earnings reporting season begins, and it is expected to be a very, very bad one. The following comes from Business Insider…
We are about to get confirmation that earnings growth for America’s biggest companies was negative in the first quarter, compared to the same period a year ago.
When aluminum giant Alcoa releases its results on Monday, it will mark the unofficial start of the heaviest reporting season for S&P 500 companies.
The final scoreboard is expected to show a 9.1% earnings drop for the quarter, according to FactSet senior earnings analyst John Butters.
If these projections turn out to be accurate, it will be the fourth quarter in a row of earnings declines. This is something that we never see outside of a recession.
And for a whole bunch more numbers which indicate that the U.S. economy is in very serious trouble, please see my previous article entitled “19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago“.
Of course I am just another voice in the crowd when it comes to predicting that the U.S. economy is headed for rough times. For example, just check out what Societe Generale economist Albert Edwards is saying…
A tidal wave is coming to the US economy, according to Albert Edwards, and when it crashes it’s going to throw the economy into recession.
…the profit recession facing American corporations is going to lead to a collapse in corporate credit.
“Despite risk assets enjoying a few weeks in the sun our fail-safe recession indicator has stopped flashing amber and turned to red”

He continued:
Whole economy profits never normally fall this deeply without a recession unfolding. And with the US corporate sector up to its eyes in debt, the one asset class to be avoided — even more so than the ridiculously overvalued equity market — is US corporate debt. The economy will surely be swept away by a tidal wave of corporate default.
As you can see, it isn’t just one nation or one region of the world that we need to be concerned about.
Economic chaos is erupting literally all over the planet, and global leaders are starting to panic.
Unfortunately, they have had seven years to try to fix things since the last global recession, and they didn’t get the job done. Anyone that believes that by some miracle they will be able to pull us out of the fire this time and that everything will somehow be okay is simply engaged in wishful thinking.

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