“Financing” Disasters in 2012?
World Currencies
Recent news reports suggest that financial and financing disasters may happen in or near 2012. Notice the first one:
Banks face trillion-dollar rollover crunch
Sydney Morning Herald – July 13, 2010New York Times JACK EWING, FRANKFURTTHE sovereign debt crisis has created worry enough for European banks, but there is another threat that has not garnered as much notice. Financial institutions must repay or roll over trillions of dollars in short-term borrowing in the next two years.
The European Central Bank, the Bank of England and the International Monetary Fund have all warned of a looming crunch, especially in Europe, where banks have struggled to raise money.
The concern is that banks hungry for refinancing will compete with governments – which must also roll over huge sums – for the bond market’s favour. As a result, credit for business and consumers could become more costly and scarce.
Banks worldwide owe nearly $US5 trillion ($A5.7 trillion) to bondholders and other creditors that must be refinanced by 2012, according to the Bank for International Settlements. About $US2.6 trillion is in Europe.
US banks must refinance about $US1.3 trillion by 2012. While that sum is nothing to scoff at, analysts seem most concerned about Europe because its banking system is already weighed down by the sovereign debt crisis.
Additionally, other reports are indicating that certain USA states are about to hurt, big time:
States Can’t Count on Bailout, Obama Appointees SayBloomberg – July 12, 2010States can’t count on the federal government for more budget bailouts, the heads of President Barack Obama’s debt commission told governors.States expecting Congress to authorize more assistance are “going to be left with a very large hole to fill,” said Erskine Bowles, co-chairman of the National Commission on Fiscal Responsibility and Reform. States including New York and California have urged Congress to extend stimulus spending authorized to combat the recession, including extra Medicaid funding and money to pay public school teachers.“I don’t think we can count on the federal government again,” Bowles, White House chief of staff under former President Bill Clinton, said yesterday at the National Governors Association meeting in Boston. “They just do not have the financial resources.”While the economy has been expanding, states have yet to recover from the longest recession since the Great Depression. The rout cut into tax collections and led them to raise taxes and slash spending on schools, social services and other expenses. States have projected total budget deficits of $127 billion through 2012, according to a report last month by the governors association and the National Association of State Budget Officers.http://www.businessweek.com/news/2010-07-12/states-can-t-count-on-bailout-obama-appointees-say.html
Financing and financial systems are in rough shape. This is sadly consistent with biblical prophecy and warnings against debt accumulation. Savings are supposed to happen during positive economic times, and those savings used during recessions/depressions. But because the USA federal government, and state governments such as California, increased borrowing, and not savings during the better times, they are in much worse shape now than they should have been.
Of course, other governments are affected as well. But according to biblical prophecy, the USA and its Anglo-allies are likely to be the ones that suffer fairly hard and fairly quickly from it. They, who have so many Bibles, should have known better.
For more information, please check out the following:
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? This is a lengthy article with many prophecies that Barack Obama may end up fulfilling.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled by him?
Barack Obama in Islamic Prophecy? There is actually a 17th century Shiite prophecy that some believe that Barack Obama will fulfill that will lead to a rising up of Islam.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
2012 and the Rise of the Secret Sect This is a link related to a book by Bob Thiel (COGwriter). This also has YouTube videos. This book documents and explains hundreds of prophecies. And since it was published, many have already started to come to pass.
2012 y el surgimiento de la secta secreta Nuevo libro del Dr. Thiel en Español.
2012 und das Auftreten der geheimen Sekte (German Edition) 2012 Buch von Dr. Thiel in deutscher Sprache.
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