Posted: 19 Sep 2016 Michael Snyder THE ECONOMIC COLLAPSE BLOG
The pinnacle of the global financial system is warning that conditions are right for a “full-blown banking crisis” in China. Since the last financial crisis, there has been a credit boom in China that is really unprecedented in world history. At this point the total value of all outstanding loans in China has hit a grand total of more than 28 trillion dollars. That is essentially equivalent to the commercial banking systems of the United States and Japan combined. While it is true that government debt is under control in China, corporate debt is now 171 percent of GDP, and it is only a matter of time before that debt bubble horribly bursts. The situation in China has already grown so dire that the Bank for International Settlements is sounding the alarm…
A key gauge of credit vulnerability is now three times over the danger threshold and has continued to deteriorate, despite pledges by Chinese premier Li Keqiang to wean the economy off debt-driven growth before it is too late.If you are not familiar with the Bank for International Settlements, just think of it as the capstone of the worldwide financial pyramid. It wields enormous global power, and yet it is accountable to nobody. The following is a summary of how the Bank for International Settlements works that comes from one of my previous articles entitled “Who Controls The Money? An Unelected, Unaccountable Central Bank Of The World Secretly Does“… An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe. It is called the Bank for International Settlements, and it is the central bank of central banks. It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City. It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws. Even Wikipedia admits that “it is not accountable to any single national government.” The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system. Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does. Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”. During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on. The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.Normally the Bank for International Settlements is not prone to making extremely bold pronouncements, and so this warning about China seems a bit out of character. Is something going on behind the scenes that we don’t know about? Without a doubt, the global financial system is shakier and more vulnerable than most people would dare to imagine. Global central banks have been on the greatest money creation spree in recorded history, and interest rates have been pushed to ridiculously low levels. If you can believe it, approximately 10 trillion dollars worth of bonds are trading at negative interest rates right now. This is completely and utterly irrational, and when this giant bond bubble finally explodes it is going to create a crisis unlike anything the world has ever seen before. Just recently, Michael Pento of Pento Portfolio Strategies commented on this bubble… He said the current financial conditions are “the most dangerous markets i have ever witnessed in my entire life – and i’ve been investing for over 25 years… The membrane has been stretched so wide and so tight that its about to burst.”Pento believes that once the bond crash happens, it will trigger a cataclysmic wave of crashes throughout the entire global financial system… Mr Pento has now warned that when policymakers signal they are set to stop buying, which will stop bond prices rising, there is going to be a devastating crash – not just in bond markets but across all investment assets.Many had been anticipating that we would have already seen a major financial crash in 2016, but so far things have been pretty stable, and this has lulled many into a false sense of complacency. But it is important to remember that we have seen corporate earnings fall for five quarters in a row, and it is expected to be six when the final numbers for the third quarter come in. Never before in history have we had a stretch like this without major economic and financial consequences. The following comes from a recent Fortune article which referred to an earlier piece authored by Jim Bianco… None of this, however, is apparent from how stock market indexes have been moving lately, which unlike the charts above have been going up and to the right. “Since 1947, every time profits fell this much, or for this long, a recession was either underway or about to begin,” writes Bianco.“The only exception was the middle of 1986 to early 1987.”It is only a matter of time before this earnings recession takes a major bite out of Wall Street. Stock prices can stay at irrationally high levels for quite a while, but history has shown that every bubble bursts eventually. And when this bubble bursts, it is going to make 2008 look like a walk in the park. |
Cindy Jacobs: Prophetically, America Is at a Tipping Point
CHARISMA NEWS
"Righteousness exalts a nation, but sin is a reproach to any people" (Prov. 14:34).
When the Apostolic Council of Prophetic Elders met in November 2015, I asked them, "Do you have a word about the elections?" In my opinion, this strategic gathering that includes some of the most respected prophets in the United States is a highlight for my year.
We prayed and listened to the Lord. The only thing He said to us was that He was preparing a patriot for the nation, and, if we prayed, that person would win the elections. It was frustrating!
However, God had admonished us to pray for just such a person, and pray we did.
This was puzzling, as we have received very accurate and broad-sweeping prophecies in the past. For instance, we were shown that the E.U. would fragment. We were told the U.S. dollar would remain a haven for investors and, in the midst of worldwide shaking, it remained so. Then, we were shown that economy of Europe would shake and while this would affect the U.S., we would not have 2008 meltdown. This is not to say that the nation will never see that in the future. Frankly, it depends on our prayers.
In personally seeking God as to the "why" He wasn't more specific with us, I realized He had already spoken! We need to see which candidate most lined up with biblical values. The Word of God tells us that righteousness exalts a nation and sin is a reproach. I realize that to use the biblical word, "sin," is not politically correct. This is because even the church has become a bastion of cultural relativism. The more preferred words are, messed up" or "shouldn't have done it." Some even go so far as to say the word "sin" is offensive to sinners!
I believe that such things as abortion, the murder of the unborn in the womb, are offensive to God. Other things like lying and stealing are forbidden as part of God's rules! Therefore, we need to vote accordingly. I also realize that the president is not a "pastor-in-chief," but a commander-in-chief. Still, we need to look at what policies the candidate will advocate and the outcome of those policies.
What does this have to do with the election and why can't I just refuse to vote because I they are not the candidates I would have chosen? If I may digress for a moment, God placed us on earth to be its stewards. We are to disciple nations. To do so includes the need to see that it becomes a nation that God deems righteous. To abstain from the political process and not participate in the process is to advocate this role to others. This comes down to this statement for me-voting is a spiritual exercise.
In order to see that righteousness exalts our nation, we have to vote. Prophetically, I believe we are at a tipping point. We have already lost a large measure of the greatness that God gave the United States to be salt and light in the Earth. I know, because Mike and I travel around the world and listen to people say this very thing in nation after nation. My heart grows heavy when I hear this discussed and I am frankly embarrassed before God. Of course, I know God loves every nation and every one has a unique, important role. However, I love my nation too! God purposed me to be an American.
It may be that God is not speaking to me about a particular candidate and is using others instead. That could very well be. There is one thing that I do know! It is time to pray and act!
Faith without works is dead! If we want a righteous nation our faith must be in the voting booth as well as a church building.
We have to look at the candidates, even though there are flawed, and vote for the ones that will establish righteousness for the unborn, fight against poverty and racism and biblical, foundational truth. God is not for a political party. They are all flawed. However, there are certain candidates who will fight for our religious freedoms and biblical values such as life in the womb.
Perhaps we do not need another word because He already given it and we only need to read the Lawgiver's Manuel and vote our biblical conscious. 
3 Reasons Why you should read Life in the Spirit. 1) Get to know the Holy Spirit. 2) Learn to enter God's presence 3) Hear God's voice clearly! Go deeper!
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