The Most Important Event Of 2010

I … The world passed from the age of investment leverage and into the age of investment deleverage on December 15, 2010, as the European Leaders met and decided to “kick the can down the road” as John Mauldin relates, by not coming to a comprehensive solution to the European Sovereign Debt and Bank Debt Crisis. It was at that time that sovereign debt interest rates rose globally and World Government Debt, BWX, and major currencies, DBV, and emerging market currencies. CEW, fell lower in an Elliott Wave 3 of 3 Down  

I add that the world will be passing from the age of care and assistance and into the age of disrespect and disregard in January 2010, when Medicaid austerity cuts stop funding of foot care and eye care as well as elimination of TANF.

II … John Mauldin In Business Insider relates Hooray! Europe Just Kicked The Can Down The Road

The PIIGS collectively owe over $2 trillion to European and US banks. German, French, British, Dutch, and Spanish banks are owed some $1.5 trillion of that by Portugal, Ireland, Spain, and Greece by the end of June, 2010. That figure is down some $400 billion so far this year, which means that the ECB is taking on that debt, helping banks push it off their balance sheets.

Robert Lenzner notes something very interesting about the latest BIS report, out this week:

“What’s curious, though, is that for the first time the BIS has broken out a new debt category termed ‘other exposures’, which it defines as ‘other exposures consist of the positive market value of derivative contracts, guarantees extended and credit commitments.’ These ‘other exposures’ – quite clearly meant to be abstruse – amount to $668 billion of the $2 trillion in loans to the PIIGS. “So, bank analysts everywhere; you now have to cope with evaluating derivative contracts that could expose lenders to losses on sovereign debt. Be on notice!”

What did I write just last week? That it is derivative exposure to European banks that is a very major concern for the world and the US in particular. It is not just a European problem

A collapse of a major European bank could trigger all sorts of counterparty mayhem in the US banking system, at least among our major investment banks. And then people would want to know which bank was next. This is yet another reason why the recent financial-system reform was not real reform.

We still have investment banks committing bank capital to derivatives trading overseen by regulators who don’t really understand the risk. Who knew that AIG was a counterparty risk until it was? Lehman was solid only a month before until it evaporated. On paper, I am sure that every one of our banks is solid – good as gold – because they have their risks balanced with counterparties all over the globe and they have their models to show why you should go back to sleep.

At first, the political types came up with the stabilization pact in conjunction with the IMF. But this was never a real solution, other than for the immediate case of Greece … and then Ireland. It has some real problems associated with it. It could deal with Portugal but is clearly not large enough for Spain. It is worth nothing that the political leaders of both the latter countries have loudly denied they need any help. Hmm. I seem to remember the same vows just the week before Ireland decided to take the money.

One of my favorite writers, Michael Pettis penned this note: “Its official – Spain and Portugal will need to be bailed out soon. How do I know? In one of my favorite TV shows, Yes Minister, the all-knowing civil servant Sir Humphrey explains to cabinet minister Jim Hacker that you can never be certain that something will happen until the government denies it.”

III … A Götterdämmerung, that is an investment flameout, is coming soon.

A … And while globalization has been most destructive God’s word reveals that people will embrace global corporatism and global governance all the more after the soon coming financial collapse, as revealed in Revelation 13,4:  So they worshiped the dragon who gave authority to the beast; and they worshiped the beast, saying, “Who is like the beast? Who is able to make war with him?” … The world worships the beast acknowledging that it is invincible.

With globalization, there has been a continual growing cohesive integration of mankind’s institutions. Rather than independence, there has been growing interdependence, as held forth by Eric J. Chaisson, who spoke at the Humanity and the Biosphere conference in Paris, France in September 2006, who elaborated on the need for a planetary civilization, the elimination of cherished concepts like national sovereignty, and an environmentally efficient symbiosis with networked machines in a merging of mankind and technology.  Chaisson states: “the next great evolutionary leap forward could be labeled “ethical evolution” – the espousal and development of a global culture, one where planetary citizenship becomes as important for us as it is for microbial life forms.”

The Beast System of global corporatism and global governance seen by the Apostle John in Revelation 13:1-4 is  also the same one seen by the prophet Daniel in Daniel 7:7. And Rudy Sanchez remarks that Ten Region World Division Could Fulfill Revelation 17:12-13.

Heartlight provides the Scofield Reference Notes (1917 Edition) for commentary on Revelation Chapter 13.

DontBeFooled666Blog in article The Fourth Kingdom–Iron And Clay, relates that the Beast System is the fourth kingdom mentioned in Daniel Chapter, strong as iron, for iron breaks and smashes everything, Daniel 2: 40-44: “Accordingly, in the not-so-distant future, America (or the coalition of nations) will suffer a potentially fatal wound to one of its ‘heads’. Once revived, and as a result of the trauma from the near-fatal blow, it will have a different character than before.  It will be anti-God through and through.  It will dominate by strong displays of power.”  Frank Dimora wrote in The Last Chronicles Of Planet Earth and suggests that the Eurozone has been coming forth as the final beast of iron and clay since the 1950s: :Since the early beginnings of the European Union in 1957, Italy has played a major role. In 1957, six European nations met in Sicily. They all signed a treaty named the “Treaty of Rome.” The goal of the newly signed treaty was to remove trade barriers, establish a single trade policy, and coordinate transportation, agriculture, and ease the movement of capital and labor  across borders. This treaty was the birth of the revived Roman Empire that Daniel saw in the king’s dream. On January 1, 1958 the EEC was officially formed. On December 1991 the Masticate Treaty was signed by the members of the EU, (twelve at the time). Its purpose was to form a super-state with no borders and a common monetary system. The Council of the European Union would then have a (rotating president) from each member nation for a period of six months. For example, Italy’s President would become the EU President for 6 months, when his term was up France’s President would take over for 6 months and so on.”

B. Revelation 13:5-10 tells of a sovereign king, that is a monarch, who has sovereign power and authority to rule.

The global leader of Revelation 13:5-10 is knowable: scripture provides insight to be able to identify him.

1) Dan 8,9:  And out of one of them came forth a little horn, which waxed exceeding great, toward the south, and toward the east, and toward the pleasant land …   A seemingly innocuous leader comes from the North and West, that is he comes from England or the European Union to Israel.

2) Dan 8,11:  Yea, he magnified himself even to the prince of the host, and by him the daily sacrifice was taken away, and the place of his sanctuary was cast down:…  He may be Jewish, this would help him, as he gains access to Israeli government and the Jewish Temple, taking away Jewish Temple sacrifice, exalting  himself to the level of the Messiah, and finally making himself out to be The Messiah.

3) Dan 8,23:  And in the latter time of their kingdom, when the transgressors are come to the full, a king of fierce countenance, and understanding dark sentences, shall stand up … He, being in the lineage of kings, uses this to claim world leadership; and he is amongst the world’s leading occultists.

4) Revelation 13,18:  Here is wisdom; let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six …. He is a man whose gematria when decoded, comes out numerically to be 666.

One individual who might rise to power as the world’s Sovereign, is co-chair of the Council on Foreign Relations, the CFR, Robert Rubin, who was Treasury Secretary. He is shown in a 1995 photo by Stephen Crowley of The New York Times, with Alan Greenspan, who was Federal Reserve Chairman, at a House Hearing, in The New York Times article The Reckoning Taking Hard New Look At A Greenspan Legacy by Peter S. Goodman, who said of Alan Greenspan: “And his views held the greatest sway in debates about the regulation and use of derivatives, exotic contracts that promised to protect investors from losses, thereby stimulating riskier practices that led to the financial crisis. For more than a decade, Alan Greenspan has fiercely objected whenever derivatives have come under scrutiny in Congress or on Wall Street.

“What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so,” Mr. Greenspan told the Senate Banking Committee in 2003. “We think it would be a mistake” to more deeply regulate the contracts, he added.

Another who might rise to power is covered in the Afteramerica website, that being Herman Van Rompuy, who announced that nation states are dead … The EU chief relates the belief that countries can stand alone, is a ‘lie and an illusion!’

C. Revelation 13:11-18 tells of a globally sovereign religious leader and banker.

He is the Seignior, meaning, top dog who takes a cut; in modern-day terms, a banker, he is also the world’s religious leader, and via investment and commerce connections institutes a global seigniorage wealth and commerce system.  Seigniorage means top dog bank-note system, and comes from the Scottish and Bank of England financial system which was devised to maintain the value of currency The History of Seigniorage Wealth Elaine Meinel Supkis February 7, 2008 Money Matters Blog.

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