James 5:1 (KJV) Go to now, ye rich men, weep and howl for your miseries that shall come upon you.

Wednesday, September 8, 2010

Global Financial Collapse

Many economists believe the entire global financial system will collapse in the next few months. Some have been saying this for two or three years.

If you keep up with such things, you will recognize Chairman of the Federal Reserve Ben Bernanke's use of the term "Quantitative Easing." This term means nothing more than the printing of 'money.' Bernanke recently warned that the outlook is uncertain and that the economy "remains vulnerable to unexpected developments." These unexpected developments to which he referred is the collapse of the global banks. These were code words of warning to those in the know. The global bankers and the elites are terrified of what may be inevitable.

Some economists believed Bernanke's story that QE (quantitative easing) would place banks in a position to lend money to businesses, which would jump start the economy. We all know this did not happen. There is no lending going on. Why not?

Because the idea that the banks are flush with cash is only an illusion. Due to a devious scheme by the FED designed to hide the junk assets being held on the balance sheets of the banks, this kept a run on the banks at bay. In actuality, the cash was paid back to the FED as reserves, and the FED bought the toxic assets through creative accounting entries going in one door and out the other. The entire thing consisted of meaningless transactions designed to hide the fact the the banks are actually insolvent.

There is no solution but to continue the charade and attempt to embark on QE2, an attempt to hide all of this from the public and continue creating money out of thin air through the use of creative accounting entries - in one door and out the other - which is nothing but continuous in-and-out computer entries. This is nothing but a scam to avoid a run on too-big-to-fail banks.

When the game falls of its own weight they will try to stave off bank runs by not allowing cash withdrawals beyond a certain limit per day, possibly restricting gold and silver transactions, and similar restrictions. Some banks have already imposed unusual limits without actually announcing it. You find out only when you try to make certain transactions. The secrecy cannot be maintained.

Individuals should rearrange their bank accounts and investments accordingly, and ahead of time. Now. It would be a good idea to have some gold and silver and cash 'in hand' to enable you to get ahead of the game as much as is possible.

When the game stops, that would be an excellent time for a new global financial system and a global currency to be announced.

As always, it is far more important to have your spiritual ducks in a row than to worry about earthly 'money' that has no lasting value.

Royal Heir