There is persistent chatter about a Greek default over the weekend, which Greece denied, but the denier refused to be named. If it’s not true, then put your damned name on the statement or be considered what you are – liars. Greece failed to place their short-term bill rollover. That’s a declaration by the market thateven for short-term paper the market has utterly lost confidence in Greece and the Euro.
Germany’s DAX market relative to the United States just hit a five year low today.
To add to the “liar liar pants on fire” calls Germany is now reported to be working a plan to recapitalize their banks if Greece defaults. This in turn means three things:
- A Greek default is considered credible by Germany and they are taking official actions related to that possibility. So much for the denials.
- German banks (and presumably French banks and all the other big banks too) are insolvent as they are carrying these bonds at well above their actual value in the marketplace. If the bonds were carried at the claimed “loss” values, which is quoted as 50%, then there would be no need to recapitalize them would there? This is an official statement of proof that the banks are lying about asset values and are in fact insolvent.
- Remember that we were just told days ago that these banks were fine and needed no capital and in fact calls for more capital by the IMF were officially refused. The same claim has been made about our banks. You were just told officially by Germany that their claim of adequate capital just days ago was a lie as they are now planning to recapitalize the banks. Do you believe our banks are not similarly exposed and also insolvent? YOU’RE BETTING YOUR FUTURE ON THE BELIEF THAT THEY ARE, SO THIS QUESTION IS QUITE GERMANE AND TIMELY: ARE YOU SURE YOU’RE NOT BEING LIED TO EXACTLY AS WE WERE ABOUT GERMAN BANKS?
Please read the complete article at the top link.
Comment by Wickus:
I am going to throw something out here that is not in line with popular teaching.
1Th 5:3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.
This is the verse that “proofs” to the pre-trib camp that the 7 year confirmed covenant is a peace treaty. Well, first of all, I think it is a big push to say that the “they” in this verse is for Israel only. “They” is a general term and does not specify a specific group of people.
Now lets look at the words, peace and safety. I have gone to good old Strong’s again to see what the meaning of these words are in the original language. Great was my surprise to learn the following:
1) Peace can also be translated by implication as Prosperity.
2) Safety can also be translated as Security.
So when they shall say Prosperity and Security then a sudden destruction cometh upon them…
Prosperity and security are usually associated with money. Since the economic collapse of 2008, the world is calling and trying everything to get prosperity and security back into the system. Trillions has been wasted and lots of plans has been made by governments to get prosperity and security going again. As seen by the article on top, they have failed.
Is this what Paul was trying to say to us and will sudden destruction follow soon? Will the all out imminent collapse of the worlds economy be the trigger to push the end time scenario into higher gear?
Plausible or busted? Your input is welcome.