There is much exuberance today in France as voters go to the polls; but of greater importance is the dream given to the Apostle John by angels and presented as bible prophecy in the Revelation of Jesus Christ, which foretells that a revived Roman Empire, Daniel 2:40-43, Revelation 17:17, in the form of a united Europe is coming out of the chaos of soon coming Financial Armageddon, that is a credit bust and financial system breakdown, Revelation 13:3-4, where the economic head of the Beast Regime, suffers an apparent mortal wound.
The totalitarian and statist monster that God is developing, has six other heads, that is things which increasingly think, reason, speak and govern in mankind’s institutions; these being military, education, health care, media, religion, and science and technology.
This is the backdrop to the rise of one of seeming little authority, the Little Horn, Daniel 7:8, Revelation 13; 5-10, who will be accompanied in rise to power by a banker, Revelation 13:11-18. This sovereign will play the lead role in brokering a future middle east peace plan, Daniel 9:25-27, which comes after the global Eurasia War, the Ezekiel 38 War.
His rise to power will be characterized by working in regional framework agreements, Daniel 8:23, to change our times and laws, Daniel 7:25. He will be one who honors a god of military power, Daniel 11:38-39.
Euroland will be one of the ten regions of global government foretold by Daniel in Daniel 2:31-33, and by John in Revelation 13:1-4; these are the very ten political jurisdictions called for by the Club of Rome in 1972 to 1976.
The inflection trade lower in world stocks, VT, this month evidences the death of fiat money and credit, as well as capitalism. Confirmation of such comes from this month’s trade lower in Commodities, DBC.
Debt deflation is seen in the Small Cap Pure Value Shares, RZV, Large Cap Growth, JKE, Agricultural Commodities, RJA, DBA, Base Metals, DBB, Oil, USO, all trading lower this month on the exhaustion of the world central banks’ monetary policies to sustain growth, and the failure of debt sovereignty of the peripheral European nations.
Insolvent sovereigns and insolvent banks can’t support either capitalism or European Socialism. Sovereign debt insolvency means that sovereign fiscal spending is unsustainable. The baton of sovereign authority is passing from sovereign nation states to sovereign bodies, such as the ECB and EU ECB IMF Troika. Both European socialism and capitalism are dying and regional global governance is rising in its place.
Money and credit as they have traditionally been known, is history; capitalism is no longer providing money and credit in the Euro zone; neo liberal credit has been extinguished.
Neoauthoritarian money and credit is flowing as economic resource. Neoauthoritarian money and credit is rising to power Europe’s economy.
The PIIGS profligate spending, coupled with the world central banks’ monetary policies have pushed sovereign debt to the point where it is no longer sustainable. The seigniorage, that is the moneyness, of capitalism is history. The seigniorage, that is the moneyness of regional integrated banking and government is rising. Eurozone fiscal spending is not sustainable as the periphery nations have lost debt sovereignty. Current fiscal spending is being provided courtesy of the ECB; this will not continue much longer.
In April 13 TIME Global Spin Blog article Time Interviews French Presidential Front-Runner François Hollande, the Socialist candidate communicated that the Election is about priorities and values, specifically fairness, as well as a revived Franco German motor for Europe.
He said, “We need the help of other member countries and leaders who, like us, want to see a change in Europe’s direction. That’s also my logic when I tell voters that electing me president will not only shape France’s future, but also initiate change across all of Europe. People, everywhere, don’t just want things done differently, they want things done more fairly.”
“I think the priority now is to improve ways the European Union operates and strengthen its practices as we go forward together. I’m favorable to countries wanting to push ahead faster with common projects and initiatives being allowed to do so. That could be done with European defense accords, industrial projects, fiscal harmonization, or, indeed, on a common tax on financial transactions. We shouldn’t be waiting for unanimous agreement that isn’t always possible, and can’t always be obtained in respect of national sovereignty concerns. The existing treaty allows countries desiring to move forward faster together to do just that when others prefer to opt out. We should do that when it appears productive and possible.”
Socialist Hollande will waive sovereignty if the result appears to be fair, productive and possible.
MacroAndCheeseOrg writes in Zero Hedge French Toast.
The strength of Hollande’s lead is rather surprising given that along with Germany, France is navigating the financial crisis rather well. Sarkozy has Merkel’s explicit endorsement, and though he has had his own share of gaffes, on balance his policies are more moderate and sensible than his opponent’s. So why is he losing?
According to my French colleagues, Sarkozy acts like a nouveau riche, he flaunts his wealth and status. This, in France, is just not done. At a time when the French economy is wobbling, Sarkozy’s display of the good life, often in exotic locations with his glamorous wife, has not played well among the French populace. With his approval rating stuck in the low 30s for years, Sarkozy has dug himself into a hole.
But Sarkozy’s hole will be nothing like the Hollande tunnel. Francois Hollande is a socialist, and his prescription for France’s economy is sculpted along socialist lines. He has quite a program in store:
- Hire 60,000 teachers in a country of 65mm
- Balance budget by 2017
- Tax income above EUR 1 million
- Reduce consumer utility bills
- Lower retirement to 60 for those who have worked 41 years or more
- Reduce payroll tax
- Renegotiate European treaty
- Separate commercial and investment banking
By themselves, these planks don’t seem particularly onerous, but taken together and put in the context of a European recession, the prospects for the French economy are not good
Please consider Revelation 13:3-4, “And I saw one of his heads, as if had been mortally wounded, and his deadly wound was healed. And all the world marveled and followed after the beast and they worshiped the beast saying, Who is like the beast and who is able to make war with him.” Then verse 5 transitions to the word he, so verse 5, must be about a person and not a regime. The world global trade, investment and banking system is going to be massively wiped out. Then people will follow after the beast regime of Neoauthoritarianism where people will give allegiance to diktat. With the Neoliberal economic system wiped out, people will not be turning to Gilders, D-Marks, and Drachmas; but, rather they will place their confidence and trust in diktat. People will wonder and follow after the word will and way of regional leaders and bodies, actually worshiping them, saying who can rise to challenge their authority. There’s no stopping what can’t be stopped; no killing what can’t be killed. Seeing this predator, I observe death all around.
The fiat money system is going to be replaced by the diktat money system. Seigniorage, that is moneyness, will no longer come from creditism and faith in debt. Seigniorage will come from regionalism and faith and obedience to diktat.
After the soon coming Financial Armageddon, that is credit bust and economic collapse, all of those living in the Euro zone will be debt serfs living in a Eurozone regional of global governance, as called for by the Club of Rome in 1972 to 1976. All will be residents of a debt gulag, and a totalitarian collective, where the debts of Neoliberalism are applied to every man woman and child. Financial Armageddon will dramatically reduce the US and UK hegemony that has ruled the world since the late 1700s, as the dynamos of global growth, trade, and corporate profitability, wind down; and the dynamos of regional security, stability and sustainability power up.
Soon EU leaders will meet in summits to waive national sovereignty, and pool regional sovereignty, to announce regional framework agreements, where new monetary authority and new sovereigns, such as the Sovereign, foretold in Revelation 13:5-10, and the Seignior, Revelation 13:11-18, will be announced.
In Europe, these will install monetary cardinals, and public private partnerships to oversee economic activity, and fiscal budget commissioners to enforce austerity measures and debt servitude.
Global economics is increasingly being governed by statism as neo liberal credit fails. In the age of regional global governance, the Eurozone will be the first region to see banks integrated with government; these will be known as Government Banks or Gov Banks for short. Bloomberg reports, The debt of banks is trading at the biggest discount to the broader corporate bond market since the depths of the funding squeeze in November as Europe’s sovereign crisis again threatens to rattle global financial markets. From Spain’s Banco Santander SA to Morgan Stanley, the cost of credit-default swaps on a basket of the largest banks in Europe and the U.S. is 266 bps, compared with 137 for the Markit iTraxx Europe Index of 125 companies with investment-grade ratings. The 129 basis-point spread is the most since it reached 133 on Nov. 30… ‘The problem with emergency liquidity injections is that they become addictive,’ said Alex Bellefleur, an analyst at Brockhouse & Cooper Inc. ‘That is especially the case when injections are trying to fight underlying flows that are accelerating. This is the dynamic we are currently in.’” Bloomberg reports Greece’s four biggest banks reported a combined loss of 27.9 billion euros ($36.9bn) for last year after participating in the country’s debt exchange, the largest sovereign restructuring in history.
Regionalization of banks will be one of the outcomes of the 1972 to 1976 Clarion Call of the Club of Rome for regional global governance, just as the Milton Friedman Free To Choose script underwrote floating currencies, which enabled the global debt trade, and carry trade investing, to establish and empower creditism.
For the last forty years bankers have waived wands of creditism that marked the age of Neoliberalism; but soon leaders will meet in summits and wave announcements of regionalization that will mark the age of Neoauthoritarianism.
Because of acceptance of Economic Positivism and later because of acceptance of Milton Friedman’s Free To Choose script, Nixon took the US off the gold standard, and the US Dollar became the reserve currency, and the Floating Currency System has governed till this year, when the US Dollar started to rise and world currencies, traded by the ETF, DBV, started to fall. These include the Japanese Yen, the Australian Dollar, and the Brazil Real. These have not fallen very much, but, the rise in the US Dollar, has stopped the global government debt trade, as is seen in World Treasuries, BWX, trading lower in value.
Gradually, Positivism gave rise to Creditism, Inflationism, Creeping Tyranny, specifically European Socialism, and Crony Capitalism, as well as to the rise of the iron rule of UK and US Global Hegemony.
But in April 2010, World Stocks, VT, and Commodities, DBC, traded lower on exhaustion of world central banks’ monetary authority as well as contagion fears of the European Sovereign Debt Crisis and the Greek Sovereign Debt Crisis.
Global Economics is passing through an inflection point where Inflationism is turning to Destructionism. Tyler Durden reflects on the nature of the US Federal Reserve relating, Four time Fed Chairman Marriner Eccles: “As long as the Federal Reserve is required to buy government securities at the will of the market for the purpose of defending a fixed pattern of interest rates established by the Treasury, it must stand ready to create new bank reserves in unlimited amount. This policy makes the entire banking system, through the action of the Federal Reserve System, an engine of inflation. (U.S. Congress 1951, p. 158)… [We are making] it possible for the public to convert Government securities into money to expand the money supply….We are almost solely responsible for this inflation. It is not deficit financing that is responsible because there has been surplus in the Treasury right along; the whole question of having rationing and price controls is due to the fact that we have this monetary inflation, and this committee is the only agency in existence that can curb and stop the growth of money.. . . [W]e should tell the Treasury, the President, and the Congress these facts, and do something about it….We have not only the power but the responsibility….If Congress does not like what we are doing, then they can change the rules. (FOMC Minutes, 2/6/51, pp. 50–51)”
Soon out of Financial Armageddon, that is a credit bust and global financial breakdown, fate, not any human action, operating through Creative Destruction, will bring forth Regional Global Governance to replace Capitalism, as foretold in bible prophecy of Revelation 13:3-4, and Daniel 2:31-33.
There will not be a return to Gilders, D-Marks or Drachmas, as such come by national sovereignty.
In Europe, Germany will arise as preeminent in a type of revived Roman Empire. Germany and The European Investment Bank will be the leaders in the New Europe, where a One Euro Government will rule politically, monetarily and fiscally, and a One Euro Bank will rule financially.
Testosterone Pit in Zero Hedge article Drachma Clauses relates, The European Investment Bank, which was watching this imbroglio from the sidelines while shaking its institutional head, wised up to reality. For loans to state-owned enterprises in Greece, it started using contracts that are under British law and include “drachma clauses”, in case Greece were to exit the Eurozone, or in case the Eurozone itself were to break up. The first such contract was used two weeks ago for funding a natural gas power plant of the Public Power Corporation. Planning for Greece’s exit from the Eurozone has now seeped down into the language of contracts. Thus, the drumbeat of Greece’s economic horror show continues in its own manner and to its bitter end. For that unrelenting debacle and its consequences, read in A harder Default To Come.
Europe will be a gulag of debt servitude and regional statism, as Totalitarian Collectivism rules.
The dynamos of growth and profit that empowered Capitalism are winding down. The dynamos of regional security, stability, and sustainability that empower Regional Global Government, are powering up.
Volatility, TVIX, increased this month evidencing growing financial system instability. The current unsustainable Euro zone economic and political situation will implode. There will not be a de-eurorization, but rather a eurofication, that is an eventual Euro integration, coming though a global credit bust and economic collapse, where leaders meet in summits and announce regional framework agreements, which waive national sovereignty, and produce a Federal Europe.
Fiscal unsustainability is now ever-increasing. The loss of debt sovereignty by the PIIGS carries with it the eventual awareness that the spending by these nations is not fiscally sustainable. As this reality settles in, then the investment demand for gold will increase. Gold will increasingly be known as “money good”. Gold and diktat will be the two types of sovereign wealth in the age of devolution.
My parents practiced individualism and objectivism; they pursued their own happiness and rational self-interest as they amassed property to ever increase their happiness.
I practice liberalism in the like precious faith of Jesus Christ, by following the example of the Apostle Peter who encouraged in 2 Peter 1:1-10, that one ad virtue and love to one’s faith, thereby partaking of the Divine nature, so as to receive the exceedingly great promises of God, and to bear Spiritual fruit, and in so doing, find the meaning of life. What kind of liberalism, might one ask, the kind that encourages women to participate in worship along the lines of egalitarian meetings of Living Stream Ministries.
Unfortunately, I live in a libertine world, where the media head of the Beast System of Revelation 13:1-4, maintains the knowledge cage; and keeps the circus action going with ring masters such as the Cato Institute, and provides show announcers, such as those featured in the Economic Policy Journal article Borderline Propaganda
I am acquainted with many psychopaths, as I live in an inner city neighborhood; one of the individuals who I had lunch with recently at the soup kitchen, mentioned he is a Libertarian. I said nothing, as such chameleons say they are most anything, but cannot tell you what the word Libertarian means; knowing him he would say, “it means I am free to do as I please”.