The Beginning Of The End
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20 Quotes From European Leaders That Prove That They Know That The Financial System In Europe Is Doomed

The financial crisis in Europe has become so severe that it has put the future of the euro, and indeed the future of the EU itself, in doubt.  If the financial system in Europe collapses, it is going to plunge the entire globe into chaos.  The EU has a larger economy and a larger population than the United States does.  The EU also has more Fortune 500 companies that the United States does.  If the financial system in Europe breaks down, we are all doomed.  An economic collapse in Europe would unleash a financial tsunami that would sweep across the globe.  As I wrote about yesterday, the nightmarish sovereign debt crisis in Europe could potentially bring about the end of the euro.  The future of the monetary union in Europe is being questioned all over the continent.  Without massive bailouts, there are at least 5 or 6 nations in Europe that will likely soon default.  The political will for continued bailouts is rapidly failing in northern Europe, so something needs to be done quickly to avert disaster.  Unfortunately, as anyone that has ever lived in Europe knows, things tend to move very, very slowly in Europe.

If the bailouts end and Europe is not able to come up with another plan before then, mass chaos is going to unleashed.  Most major European banks are massively exposed to European sovereign debt, and most of them are also very, very highly leveraged.  If we see nations such as Greece, Portugal and Italy start to default, we could have quite a few major European banks go down in rapid succession.  That could be the "tipping point" that sets off mass financial panic around the globe.

Of course the governments of Europe would probably step in to bail out many of those banks, but when the U.S. did something similar back in 2008 that didn't prevent the world from plunging into a horrible worldwide recession.

Right now, the way that the monetary union is structured in Europe simply does not work.  Countries that are deep in debt have no flexibility in dealing with those debts, and citizens of wealthy countries such as Germany are becoming deeply resentful that they must keep shoveling money into the financial black holes of southern Europe.

These bailouts cannot go on indefinitely.  Political and financial authorities all over Europe know this and they also know that Europe is rapidly heading toward a day of reckoning.

The quotes that you are about to read are absolutely shocking.  In Europe they openly admit that the financial system is dying, that the euro is in danger of not surviving and that the EU does not work in its present form.

The following are 20 quotes from European leaders that prove that they know that the financial system in Europe is doomed....

#1 Polish finance minister Jacek Rostowski: "European elites, including German elites, must decide if they want the euro to survive - even at a high price - or not. If not, we should prepare for a controlled dismantling of the currency zone."

#2 Stephane Deo, Paul Donovan, and Larry Hatheway of Swiss banking giant UBS: "Under the current structure and with the current membership, the euro does not work. Either the current structure will have to change, or the current membership will have to change."

#3 EU President Herman Van Rompuy: "The euro has never had the infrastructure that it requires."

#4 German President Christian Wulff: "I regard the huge buy-up of bonds of individual states by the ECB as legally and politically questionable. Article 123 of the Treaty on the EU’s workings prohibits the ECB from directly purchasing debt instruments, in order to safeguard the central bank’s independence"

#5 Deutsche Bank CEO Josef Ackerman: "It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels."

#6 ECB President Jean-Claude Trichet: "We are experiencing very demanding times"

#7 International Monetary Fund Managing Director Christine Lagarde: "Developments this summer have indicated we are in a dangerous new phase"

#8 Prince Hermann Otto zu Solms-Hohensolms-Lich, the Bundestag's Deputy President: "We must consider whether it would not be better for the currency union and for Greece itself to go for debt restructuring and an exit from the euro"

#9 Alastair Newton, a strategist for Nomura Securities in London: "We believe that we are just about to enter a critical period for the eurozone and that the threat of some sort of break-up between now and year-end is greater than it has been at any time since the start of the crisis"

#10 Former German Chancellor Gerhard Schroeder: "The current crisis makes it relentlessly clear that we cannot have a common currency zone without a common fiscal, economic and social policy"

#11 Bank of England Governor Mervyn King: "Dealing with a banking crisis was difficult enough, but at least there were public-sector balance sheets on to which the problems could be moved. Once you move into sovereign debt, there is no answer; there's no backstop."

#12 George Soros: "We are on the verge of an economic collapse which starts, let's say, in Greece. The financial system remains extremely vulnerable."

#13 German Chancellor Angela Merkel: "The current crisis facing the euro is the biggest test Europe has faced for decades, even since the Treaty of Rome was signed in 1957."

#14 Stephane Deo, Paul Donovan, and Larry Hatheway of Swiss banking giant UBS: "Member states would be economically better off if they had never joined. European monetary union was generally mis-sold to the population of the Europe."

#15 Professor Giacomo Vaciago of Milan's Catholic University: "It's clear that the euro has virtually failed over the last ten years, even if you are not supposed to say that."

#16 EU President Herman Van Rompuy: "We’re in a survival crisis. We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union."

#17 German Chancellor Angela Merkel: "If the euro fails, then Europe fails."

#18 Deutsche Bank CEO Josef Ackerman: "All this reminds one of the autumn of 2008"

#19 International Monetary Fund Managing Director Christine Lagarde: "There has been a clear crisis of confidence that has seriously aggravated the situation. Measures need to be taken to ensure that this vicious circle is broken"

#20 German Chancellor Angela Merkel: "The euro is in danger ... If we don't deal with this danger, then the consequences for us in Europe are incalculable."

Most of the individuals quoted above desperately want to save the euro.  They are not going to go down without a fight.  The overwhelming consensus among the political and financial elite in Europe is that increased European integration in Europe is the answer.

For example, EU President Herman Van Rompuy is very clear about what he believes the final result of this crisis will be....

"This crisis in the euro zone will strengthen European integration. That is my firm belief."

Many of the elite in Europe are now openly talking about the need for a "United States of Europe".  Just consider what former German chancellor Gerhard Schroeder recently had to say....

"From the European Commission, we should make a government which would be supervised by the European Parliament. And that means the United States of Europe."

But as mentioned above, things in Europe tend to move very, very slowly.  The debt crisis in Europe is rapidly coming to a breaking point, and it is very doubtful that Europe will be able to move fast enough to head it off.

What we may actually see is at least a partial collapse of the euro and a massive financial crisis in Europe first, and then much deeper European integration being sold by authorities in Europe as "the solution" to the crisis.

This would be yet another example of the classic problem/reaction/solution paradigm.

The "problem" would be a horrible financial crisis and economic downturn in Europe.

The "reaction" would be a cry from the European public for someone to "fix" things and return things back to "normal".

The "solution" would be a "United States of Europe" with much deeper economic and political integration which is something that many among the political and financial elite of Europe have wanted for a long, long time.

Right now, the people of Europe are very much opposed to deeper economic and political integration. For example, 76 percent of Germans says that they have little or no faith in the euro and one recent poll found that German voters are against the introduction of "Eurobonds" by about a 5 to 1 margin.

It looks like it may take a major crisis in order to get the people of Europe to change their minds.

Unfortunately, it looks like that may be exactly what is going to happen.

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  • Helix

    Yep. The plan is working perfectly…

    • Dr. Chicago

      Hitler is cheering on from Hell.

    • http://globaleconomicwarning.blogspot.com Tori T

      Yep. Start preparing yourself.

      - C. Banks

      “HOW WILL YOU FACE THE AMERICAN APOCALYPSE IN 2011: how you can protect yourself and position yourself for the greatest wealth transfer in history.” See my vblog http://globaleconomicwarning.blogspot.com

  • http://www.placeofrefuge2012.com Sheila

    Wow, I’m speechless!!!!!!!!!!!!!!

    http://www.placeofrefuge2012.com

    • Cheryl

      I’m wondering if this site owners knows when people click on your solicitation link, it closes his site out and there’s no back button to get back to the site? That’s pretty rotten to do, and rather parasitical, don’t you think?

      • http://n/a Anonymous

        It opens a new window for me, which might explain why you cannot go back as the website is the first site visited in the new session.

      • Highspeed

        Couldn’y you just right click and open in a new window?

  • Rev. Reggie Jackson

    I always thought that the American economy would drag the whole world down with it. But then, when Greece and other European countries were defaulting; then I saw that the Europeans could very well collaspe and bring even America down. But either way; the International Bankers/Illuminati who started their empires in Europe; have had plenty of time to perfect their ability to crash the worlds economies.

    But though they will collaspe the economies of world and have their One World Luciferic Order; the Great God of Heaven will defeat them all and have them all screaming and hollering their heads off in the great lake of fire and brimstone!!

    • the Beast

      I say let them play with their horror plot of Global Domination. The Lord of All-things does not sleep nor ignores, and His plot devours all plots.

    • Cheryl

      Yup, the only problem is many of us clearly won’t survive to witness the evil one’s falling.

    • Jamaal

      Please excuse my ignorance:

      But will the euro failing reach all of the way to Africa? Are we not safe in Africa also? Do the pale Arabs depend on the euro and the dollar just as strong?

      As I understand it as of now, Qaddafi wants to make (or is making) a united African currency that will crush the euro and the dollar. And the militant pale Arabs don’t like that.

      How can the euro or the dollar affect Africa at all? They have all resources on their land. Why would they need to depend on European influence in anyway? Are they not self-independent? Or is it just they think they’re not? There must be a psychological stranglehold on them or something because they believe they need Europe when they do not.

      Please excuse my ignorance in any of this. And correct my misunderstandings to give understanding, please. I would greatly appreciate it.

      • Jeremy

        From a trade standpoint, a falling euro makes African imports into Europe more expensive. The potential collapse of the Euro could lead to short-term civil unrest, as some countries have currencies which are weaker in comparison to the Euro. Civil unrest makes for a less stable business environment for Africans to invest into European countries, and for Europeans to invest in Africa. In other words, a falling Euro stifles commerce between the Eurozone and Africa.

        The principle being discussed also is the implications for the global economy and the insolvency building among Ireland, Spain, Italy, Greece, and Portugal. African banks, just like banks in the North America, Asia, South America, Oceania, will be vulnerable (as both lenders and holders of European debt) with potential inability of European countries to pay their debt. The debt holdings, or potential “toxic” assets with this sovereign debt, will force African banks to hedge against risk, and under the concept of fractional reserve lending, lend less (because of forecasts of exposure to toxic assets) to entreprenuers. Once again, with the interconnected nature of the global economy, small and medium size businesses (and therefore its’ workers and subsidiary businesses) suffer. People do not have jobs, and stores face shortages on supply.

        • Jamaal

          “African banks… will be vulnerable…”

          Those banks that are “lenders and holders of European debt”, are they of the five nations that are not Rotchchild controlled central banks? (Libya, North Korea, Iran, Sudan, Cuba)

          If these banks hold no debt to Europe, can they feel the pressure from the global economy? Are these non-Rothchilds controlled central banks not self-independent from the global economy?

          • Jeremy

            Jamaal,

            Not only of those five central banks, but banks all over Africa. The issue is not whether a bank is controlled by the Rothschilds or not, but problems more fundamental to commercial lending and risk.

            You have to remember the original cause of the worldwide recession of 2008: the sales of financial instruments with “toxic” assets (unpaid mortgages) to banks first in Europe, and then to banks around the world.

            The danger is that there is no telling which banks hold these assets, and bonds sold by European countries such as Greece (this is why the interest rate on these bonds has increased — to hedge against the risk). So, it is difficult to say, but what is known is that banks around the world have incurred great risk in government bonds and these “toxic” assets. Which ones we do not know.

            So, as long as banks are engaged in asset transfers (sales, purchases) from abroad, they are not independent. This is why you continue to see global recession: business relies on short and intermediate lines of credit. Banks are reluctant, or unable, to lend to these businesses because of their exposure to these assets.

            This is an explanation of the fundamental lending problems in banks. Any question about the Rothschilds is a separate issue, and more concerns the variation in money supply, aka the “business cycle”.

  • Gary2

    Tax the rich and spread the wealth. The banks (rich) need to take a haircut. No to austerity. This mess was caused by the rich and the banks. F***them they can pay.

    • Michael

      I like your style Gary2.

      • James99119

        Oh, and since Michael’s in with Gary, 100% tax on Michael! Yaaaaay! We’ll all eat good tonight!

        • Michael

          No taxes on me please.

          Personally I would like to see the entire tax code eliminated and a new system built from scratch.

          Michael

    • knightowl77

      ugh…”The problem with socialism is that eventually you run out of other people’s money” Margaret Thatcher

      “Political tags – such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth – are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire.”
      Robert A. Heinlein

      Do not be in the same camp as the bankers, ie wanting to control someone else. As for me, leave me alone.

      • Rhinehart Fox

        I’m with you knightowl77. As has been pointed out many times, we could tax everybody 100% and not come up with enough money to pay off current obligations. Some people just want justice (per their perception of it). We’ve seen that form of justice before, in the French Revolution, the civil war in Rwanda, various forms of ethnic cleansing, the Final Solution. Believing in God makes my life much easier. The Scriptures tell us “Vengence is mine saith the LORD. I will repay.” I can let Him do His job while I do mine. That is preparing for difficult times ahead and ensuring the safety of my family.

        • McKinley Morganfield

          DC could confiscate EVERYTHING from the top 5% and not cover the $1.4 trillion dollar deficit for FY 2011.

          I like your reference to the French Revolution. Gary2 should read a little history; if he did he would know that Maximilien Robespierre eventually had a date with the guillotine and Trotsky had a date in Mexico City with an ice pick. The left always ends up eating its own.

      • Dr. Chicago

        Amen brother

    • James99119

      We’ve taken a vote. We’re going to tax everything Gary2 has at 100% (you can’t argue with the majority). We’ll all be rich and our problems will be over! Yaaaay!

  • http://www.hotbedinfo.com Kyle

    First goes europe then goes the U.S. about 2 weeks afterward, as Pastor Lindsey predicted on the alex jones show.

    10 ways to become self-sufficient

    http://hotbedinfo.com/2011/08/10-ways-to-become-self-sufficient/

    • Ben Dover

      Then China after their two largest customers go down in flames. China has a long way to go in developing domestic markets. They have a huge “potential” domestic market, but at present peasants in the countryside have no hope of buying the toys available in the cities.

      • Jeremy

        The communist government risks implosion if they allow for full-scale entrepreneurship for its peasants. Deng was blamed for this in the 1980s (when you saw Chinese development in its purest form) after Tianenmen Square, and there has been no one within the Party with enough backbone to support these policies. Deng’s creation of the “Town and Village Enterprises” were the closest thing to US-style small, hometown entrepreneurship, where you are presumed under the law to be free to start business.

        The hardliners did not like this approach, so one legacy of Chinese development since Deng’s death in 1997 is to continue capital-intensive investment, but to restrict labor intensive (or the creation of actual jobs through small-time domestic investment) investment. Jiang Zemin and Hu Jintao are political opportunists, and not what China needs if it wants to survive the downfall of the European economies and the US.

  • r.bitting

    I knew that wedding was too extravagant.

  • http://YAHOO RICHARD

    IT LOOKS LIKE THE EURO IS DOOMED TO ME. WHAT I CAN’T UNDERSTAND IF WHY OUR STOCK MARKET CAME BACK WITH ONLY A HUNDRED POINT DROP. SOME GUY YESTERDAY SAID HE THOUGHT WE WOULD HAVE A 600 POINT DROP AND I THOUGHT SO TO, BUT SOME HOW IT MANAGED TO COME BACK. GLAD TO SEE ALL YOUR POSTINGS YOUR REALLY ON IT.

    • Dr. Chicago

      We’re in a Zombie Stock Market. Before 2008, any single one of the many headlines today would have driven the market. But the professionals have become immune to bad news.

    • 007

      There is likely some market manipulation going on by the Fed to prop it up. Believe it or not, the Federal Reserve Act allows them to do it. Of course this is just pumping more dollars into the system. It is going to going to come back at bite us all with very high inflation. When the CPI reaches 5% watch out. That really means 10% real inflation. Many believe this will be the breaking point for the dollar and the treasury market.

  • Doug

    Problem is, many people here in the US think Europe’s problems won’t affect us. They couldn’t be anymore wrong. We are wrapped into Europe’s banks and governments to the tune of trillions, not to mention that Europe buys a substantial portion of our exports. WHEN Europe fails, the US will fail too, because we already gave everything to the criminal banksters in 2008.

  • http://inthiseconomy.110mb.com Jim

    The Euro project is all but in the can. As MEP Nigel Farage once said, it’s better to get the mess over with, scrap the whole deal, and have it “consigned to the dustbin of history”. How so many people can put their fate in the hands of so few (European Parliament), especially when the elite show so little interest in their welfare, is beyond me.

  • samseau

    sweet

  • http://lastdayrapture.blogspot.com/ TK

    Does anyone actually believe that the banks would allow their cash cow to die? NO WAY

    If the Euro goes down, it will be on purpose to bring in something that can be used to control even more people and lands.

    There is no way that the banks would give up that much power, no way at all.

    • Robert_Burt

      I agree. The European Union is an artificial construct motivated primarily by the interests of the Central bankers. Why should the people of the most prosperous nation pay the irresponsible obligations of the least prosperous. It won’t work. The prosperous will stop working, rather than give their gains away. That is what happened in the Soviet Union, and the European Union is no different. It was created for the purpose of destroying the nations and peoples of Europe. The people realize this, but their governments do not care about them. Their leaders are gullible and prefer high minded delusions.

  • Morphues

    Of course they know. They don’t know what to do either. Americas are standing up. To be great, we have to do great things. Lip service has gotten us nowhwere.

    I’m not afraid anymore!

    The Revolution has started -
    Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )

    FIGHT THE CAUSE – NOT THE SYMPTOM

  • Ben

    How far off can war be? Or civil skirmishes. Things are getting pretty sporty out there.

  • Muck

    In the Book of Daniel, of modern Europe, they shall not cleave one to another. The potential failure of a common currency helps to keep this prophecy intact.

  • Data

    Please put a DATE on your entries so we can reference them after the fact if needed.

    • Michael

      You can find a date on each full article page right before the comments begin. It can be hard to find but it is there. :)

      Michael

  • JasonW

    Considering the dream of Nebuchadnnezzar in Daniel 2, a disturbing vision of a great image symbolizing the descending empires of Ancient Babylon, Medo Persia, Greece, Rome and the week and strong countries of Europe represented by the feet of iron and clay.

    Does the Bible not predict today’s crisis in Europe precisely with the following?

    “Daniel 2:42: And as the toes of the feet were part of iron, and part of clay, so the kingdom shall be partly strong, and partly broken.
    Daniel 2:43: And whereas thou sawest iron mixed with miry clay, they shall mingle themselves with the seed of men: but they shall not cleave one to another, even as iron is not mixed with clay.”

    Its obvious which countries are fiscally strong like iron and which countries have broken and weak economies like miry clay. The Bible predicts “that they shall not cleave one to another,” so all this talk of the United Sates of Europe will certainly fail also. I believe the EU is heading for anarchy and chaos as history ushers in absolute regime change! The next line reads:

    “Daniel 2:44: And in the days of these kings shall the God of heaven set up a kingdom, which shall never be destroyed: and the kingdom shall not be left to other people, but it shall break in pieces and consume all these kingdoms, and it shall stand for ever.”

    • 007

      I have read other authors who interpret Revelations to mean 10 countries will join together in Europe. Ten kings turning in their crowns to become one country.

  • mondobeyondo

    The world is very interconnected these days. What happens in Europe is going to affect us in the United States, and vice versa. The U.S. unemployment report on Friday sent global stock markets reeling, even though Wall Street was closed on Monday.

    Hopefully the European Union can work things out and salvage the euro, but it’s not looking good. Half the countries are in financial straits. Germany could end up calling the shots, as they seem to be in the best financial shape.

    A “United States of Europe”? Nah, I doubt it. Too many cultural and language differences for it to work in the long run. And too many grievances and animosities. But I’ve been wrong before, soooo….

    • Michael

      Have things been going better for you lately Mondo?

      Michael

  • dan17

    how about no more bailouts. how would it be to come back to reality from the present bubble in Europe and U.S. Will those outrageous contracts be paid to ceo’s and sports superstars in the future? I don’t think so. will humanity turn away from materialism and greed? will we teach ourself to be kind and caring and not just lazy and greedy. will we teach our children that hard work will be rewarded and laziness not rewarded? can we turn away from the illusion of money taking care of things and value more humanity. the basic needs of humans are food, shelter and spiritual beliefs that form a culture. humanity is being held hostage by the money masters and a stupid slave to money masters media. we need to enter a new paradigm in the future, a future in which we are not the slaves of banks and ceo’s.

  • http://www.dodgewinston.com/blog/ Dodge

    Just want to say that I really enjoy this blog. I have referred to it several times in my own blog – http://www.dodgewinston.com/blog/

    The writing is spot on. As far as when the sky falls… that is the big question.

    I included some info about the PIIGS in my blog. They are going to default, hard. And those investors who buying those high yield instruments… BOOM! Stick a fork in it!

  • Maria

    You hit the nail on the head, Michael. The “crisis” was designed simply to usher in the “solution.” It is amazing that so few people have gained so much world control, and that so many people have allowed them to have it.

    On a side note…

    Do you realize there are a lot of people in this world who are thinking the human race is in its final days? I’d never read up on Elenin…I’ve never seen Star Wars either…just not my thing. But I spent 30 minutes on the internet learning all the theories about Elenin’s potential effect on Earth. Wow! What an eye opener that was! Judging by the popularity of some of the websites, quite a few people think this thing is going to annihilate Earth sometime in the next two months. Now they are thinking doomed with a capital D! I’m not sure, but I don’t think our depression economy is even a blip on their radar. Boy oh boy! Are they going to be happy when they wake up the morning after and find the world is still spinning.

    Sometimes, I feel like I’m living in the Twilight Zone.

    • r.bitting

      If you thought that was mind boggling, go to this website and watch this 15 min. video on Youtube….. “Elenin/ Nibiru confirms Fall 2011 Tribulation”. Then read Revelation ch. 12…

      • Otown Right Guy

        I saw the video. Some clown sitting in a truck thinks God is going to judge us because the Palestinians want statehood. Did you ever think God is judging the USA because we support the terrorist, secular, socialist state of Israel?

        • r.bitting

          Maybe you should read the Bible ( Old Testament ) so that you can make an accurate assessment of the current situation in the Middle East. First, read in Genesis, how God promised the land to Abraham’s children and that this would be an everlasting covenant. Then read later in Genesis, that God specifically states which line would recieve the land ( Jacob the son of Issac, Abraham’s son ). Notice also later in Genesis, that God promises to make the child Abraham had with his servant girl into a great nation as well ( Ishmail )the nation known in the Bible as Edom, but that they would not recieve the inheritance, only the seed of Issac ( Abraham’s child with his wife Sarah ) would. This is the Jewish nation. Then read in Ezekiel Ch. 35 & 36 what God has in store for the the nation of Edom because of the everlasting hatred they have for Israel. Then read Roman’s ch. 1-5 & in ch. 9-11 and better your understanding of God’s redemptive plan for his people Israel. As for the clown sitting in the truck, he has displayed more insight in a 15 minute video, than in all the Jimmy Carter books you have apparently been reading. Did it ever occur to you that the Palestinian people you are supporting are the very same people that want you dead. Of course you did’nt, Jimmy failed to tell you that, did’nt he.

      • Maria

        Watched the video and read the Bible passage. It is definitely interesting. I thought the guy in the truck was very genuine and obviously is trying to make a difference.

        I have questions.

        1) Has anyone tracked the paths of other comets that have crossed Earth’s orbit? Where are all of those videos? It seems to me that all of the previous comets would have made some interesting alignments as well. According to the scientists who study such objects, Elenin has no significantly threatening attributes and may actually be breaking apart.

        2) As Christians, aren’t we supposed to live each day as if it were our last…as if each day is an “Elenin” day?

        3) What happens if Elenin flops? It is possible that these Elenin videos will gain conversions. I just wonder how many will turn from their new found faith if the comet passes without causing complete destruction. Ironic, I know, but how many hearts will be hardened against the faith because of yet another false prophecy? I do not know my Bible as well as I should, but doesn’t it warn against such conversions? And prophecies?

        • r.bitting

          Maria, in respect to your first question, the premise for the connection with Elenin and the earthquakes is that a comet would not be able to project the kind of magnetic force neccessary to cause an earthquake, nevermind a major earthquake. You seem to have faith in science ( nothing wrong with that ) so here’s a link to the report made by the scientist who conducted the study on the relationship between planetary allignments and earthquakes…” Astronomical alignments as the cause of M6+ seismicity “. It’s a report you can read online by a Scientist named Mensur Omerbashish.. As you read the report note that he does’nt incorporate his religious beliefs into his results. Notice also how much of a factor Elenin has played since 2007, and that he assumes Elenin to be a comet, not a Brown Dwarf Star. As for your other question, Christ gave his followers the signs to look for prior to his return, why would he have given them if he did’nt intend for you to be able to recognize them. Moreover, Christ commanded you to watch for those signs. Again, why? Why would he do that if he knew you would not be able to tell the difference. Christ did tell you that no man knows the day or the hour, and of course that’s true but he also said you would know that it was near based on the signs around you. In addition, you should research the seven feasts of Israel, and the connection with the events that they forshadow ( Passover forshadows Christ’s death on the cross, and was fulfilled exactly on the day of Passover, as were the rest of the feasts fulfilled on their exact day such as Pentacost/ Feast of Weeks in Acts ch. 2 )and then consider what the Feast of Trumpets/ Rosh hashanah forshadows which by the way is known to the Jews as ” The day and the hour unknown ” because it was based on the firsrt sighting of the new moon as it entered the next cycle. Where have you heard that phrase before ” the day and the hour unknown “? Could it be that Christ had a different understanding of that phrase than the modern church does ? You should’nt worry about the new believers being let down, if God has saved them, then ” he who has began a good work in them, will bring it to completion until the day of Jesus Christ ” Phillipians 1:6. Besides, if you are not careful you will find yourself saying ” where is the promise of his coming? for ever since the fathers fell asleep,all things continue as they were from the creation”. 2 Peter 3:3-4. The reason i say this is because that is what i’m sensing in you right now… Read Matthew ch. 24-25 and Luke 17 & 21… May God Bless you in your search.

        • r.bitting

          I never said that I thought that Elenin was going to bring about the end. I do believe however, based on the evidence that Elenin is associated with the increase in major earthquakes. I do also find it very interesting that so many biblically relevent events take place during the end of Sept. ( Rosh Hashana, The sign of rev. 12 on the same day, the Palestinian UN vote on the 20th, Elenin, US and European economy on the brink, and all the disasters that are increasing in frequency and intensity ) Do I say it’s going to happen then, of course not, but I am also not about to dismiss it either ( actually, the events have served to sharpen my focus on the things of God ). You made a comment in one of your posts ” Boy, oh boy are they going to be happy when they wake up the next day and the world is still spinning “. Your comment seemed to suggest that you did’nt think Christ could return then. That’s why it appeared to me that you were scoffing at the possibliity. After reading your last comment however, it’s clear that you were referring only to Elenin being the cause. If I have offended you then I appologize. However, I know “Christians” who claim to believe the Bible,that don’t think that Christ will return. So please at least understand my concern for what I thought you were representing through your comment.

          • Maria

            Got it.

            Wow, “Christians” who claim to believe the Bible,that don’t think that Christ will return? Oxymoron?

            From what I am seeing in world events today, I would not be surprised if Jesus did return TODAY…Elenin or not.

            Nonetheless, you are right…I was scoffing…at some of the Elenin hype. Sorry. Not very gracious of me.

            Thanks for all your responses.

        • r.bitting

          Thank you, Maria…

    • Maria

      Michael, I know this is an economic minded website, but at the root of your writing there seems to be a desire to seek the truth and expose it. I believe that is what attracts such a broad spectrum of people to your blog including the theologically minded.

      I was amazed at how many people have read, commented and watched various articles on this comet. An overwhelming majority are of a religious nature. If the scientists are right, after Elenin passes, I hope people’s efforts refocus on preparing for the eventual collapse of the fiat financial system.

  • Martin

    So we are likely to get:

    1. Partial euro collapse.
    2. Deeper integration of Europe as a temporary “remedy”.
    3. General bankruptcy of United States of Europe few years later.
    4. Soviet styled collapse of united Europe possibly followed on by regional wars here and there.

    Global economy have reached limits of growth.
    There is no working remedy to address that.

    • Robert

      Martin,you are extremely right. A lot of people in Europe rekognized the problem 18 month ago, but the Europeen elite had left reality behind and put all the money citizens have and the money citizens will likely have the next 100 years into the big black bail out hole.
      The solution could have been the Greek bankruptcy with a new start without debt. But now the goose is cooked and there is no easy way out anymore.

      Greetings from Germany.

  • http://lnx-bsp.net/ Tel

    You guys have it backwards. Default is good for the Euro, flush the bad debt out of the system.

    We agree that pan-European governance (aka central planned economics) cannot work… but the Euro started life as a trade agreement, on a voluntary basis, amongst a smaller group of nations. If countries like Greece drop out and go back to their own currencies then the remaining countries are better off and Greece eventually will be better off as well. If allowed to go its own way, the thing will automatically right size to a sustainable entity, and the mistakes of the past will be paid for and done with.

    Trying to struggle on with an unworkable union just gets harder and harder, every day. Bigger crash eventually.

  • Jez

    Jim 12.23am. Nigel Farrage is spot on As leader of UKIP (United Kingdom Independence Party) he as his splendid colleagues have consistently exposed the venality – corruption – and arrogance of the EU’s political and bureaucratic elite. The whole stinking rotten disgusting edifice needs to be destroyed and it will be.
    You think that you know about corruption in the US? You ain’t seen nothing compared to the EU.

  • r.bitting

    If the owner of the house had known what hour the thief was coming, he would have stayed awake and not let his house be broken into. Be ye also ready, for the Son of Man is coming at an hour you do not expect…… With all thats happening in the world right now, do you really have an excuse if you are caught unprepared?

  • William

    If you do not know of the Rothschild banking dynasty, the Bilderbergers, the Illuminati or the City of London (not what you think it means), you have no idea of what this problem is, or how it came into being. Most Americans just do not have the intelligence or the intellectual curosity to find the truth. 911 is a good example of that. So, rock on, and reelect the IDIOT who represents you in the US Congress.

  • patriot alice

    Today (Sept 7 2011)stocks are up because the Germans have adjusted their laws about PIIGS bailout rules….If we can manufacture money, remake laws, set stages, forgive loans, forbid defaults, ban foreclosures (Now being tried in California), and remake the world to our liking, then nothing is real, no law has to be enforced, only changed or enforced when it’s convenient…It seems like we could forgive Greece’s and the other PIIS’s debts, and rescue/bailout the bank’s losses through legislational approval… Only enforce laws whenever and against whom ever..Even our debt in the USA could be dealt with in the same manner…Voodoo economics is alive and well…Religions behave the same way, you’ll go to Heaven if you belong to their religion, or else you’ll go to Hell…We really do live in a fantasy world where nothing is real, except FEAR AND GREED…

    • 007

      Amazing but you are right. The market went up 200 points because the Euro dodged a fatal bullet in the German courts. Yet, it faces a thousand more bullets on the way.

  • silver bean

    This article would have more credability if the dates when the statements were made were included. Knowing the dates would put things in context. Have all the statements been made in the last 3 months? We’re in for big trouble. Have they been made over the last 5 years, yawn, just more of the sky is falling. Go to the archives of various blogs such as Survivalblog, and read what the “experts” and analysts were saying the last half of February 2009, and the first half of March 2009. The world was ending. What happened, one great big bull market with stocks nearly doubling from the March lows. And then, of course, we have to mix in Daniel and Revelation. Just remember that the religous ‘experts” didn’t even recognize the Messiah when he came. Why? He didn’t fit their preconceived idea of the Messiah. Experts come and go, mostly go, and the very few that do make an accurate prediction are heralded as THE expert. At least until their next prediction that is totally wrong at which time they are discarded and another expert is idolized.

  • Cheryl

    I guess this means I won’t be taking a vacation to Europe, probably ever now.

  • http://Chateaug@ptsi.net Dr. J. Gayle Gibson

    Sirs, Fellow citizens this Euro finiancial collapse is the beginning of ONE WORLD ORDER.
    We should be preparing for the process to take place here in America, because it is starting in Europe this very week. WHAT !!! United States of Europe!!! The first zone of 10 divisions of World Order. God Bless America.

  • Ben Dover

    The fact is that Germany is not strong enough to carry 1/2 the continent. They alone cannot save the EU and trying will only wreck Germany.

    Average Germans can see that, but their “leaders” think they will survive any collapse unscathed.

  • Robert_Burt

    We live in a world gone mad. The people are gullible. They are willing to die for anything that feels good. They are willing to obey anyone who can make a good speech. They are willing to let enemies within our own nation plunder their wealth, and they do nothing. Worse than sheep, they don’t know how to make an effort to improve their own lives independently of others. They rely on persons who make false promises, even when they know they are false. For such people there is no hope.

  • KS

    SPOT ON EVERYONE!!!!!!

  • http://www.dodgewinston.com/blog/ Dodge

    George Soros said it best, “This crisis has the potential to be a lot worse than Lehman Brothers,” said George Soros, the hedge fund investor, citing the lack of an authoritative pan-European body to handle a banking crisis of this severity. “That is why the problem is so serious. You need a crisis to create the political will for Europe to create such an authority, but there is still no understanding as to what the authority will do.”

    Did you get that part? “You need a crisis to create the political will…”

    The crisis is manufactured by a steering committee then a government entity or process is created to stop it.

    In other words “they” put us in that spot. And our ignorance helped.

    Source: http://www.nytimes.com/2011/09/07/business/global/in-euro-zone-banking-fear-feeds-on-itself.html

    • 007

      That is the plan. Scare the hell out of the German people and then force economic integration. That is my bet.

  • HB

    I salute you all. Is the end of the euro in sight? As a Brit’ I say, unfortunately, probably not. Is the end of the EU in sight? Probably not. Again, unfortunately. I refer you all to Americas’ adopted daughter, Ayn Rand. Her insightful work, Atlas Shrugged, whilst written in the 1950′s appears to begin in a world that looks pretty much the way ours looks right now. Europe, because of our laid back nature as a people, will probably muddle through for a while, accepting ever increasing taxation and lower living standards. America’s elite may not be so forgiving of their governments increasing need to rape their wallets. I do hope so!

  • Lennie Pike

    All of those people quoted are Globalists. If they were willing to give up their country’s sovereignty to form the European Union, then why wouldn’t they be willing to give it up to form a World Union also? You didn’t think of that did you? But it makes sense doesn’t it?

    The European Union was a planned recipe for disaster from the beginning. All of these people work for Central Bankers – they all depend on fiat money don’t they?

    They all have to talk like they are trying to save the European Union because if they said the truth (which none of them ever do except for Nigel Farrage) saying that what they really want is a one world government, then not enough of their citizens would accept it. The only way they will accept it is if they think an emergency has arrived, that they are going to starve to death and be homeless, and that there is no other solution – so……….an emergency had to be planned.

    Why does anyone take seriously a single word any of them say? Why does no one realize that these people are very cunning and think that they have the well being of their citizen’s in mind That’s the big question that I’d like to have answered. THEY ALL WORK FOR CENTRAL BANKERS!!!! JUST LIKE IN THE U.S.!!! CENTRAL BANKERS DON’T CARE ABOUT YOU!!! T These people are born liars and are very expert at it. Born liars are sought out as political candidates by the Central Bankers and are elected through the use of the Media that the Central Bankers control and the money they forge.

    They are all profoundly aware of human nature and what it takes to fool everyone because they can look at human nature from the outside in – THEY DON’T HAVE ANY!!!!!! – and manipulate most people at will by the use of fear. Just about all of the governments of the world are now on board with the world plan including China. All countries government’s are now buying gold because it will be the currency of the Elite so that they will be kept honest with one another, the currency of the 99.9% of the slaves allowed to keep living will be purely electronic and controlled by the elite – that is if you choose to accept it.

    It’s the fiat money brought them so near to their planned goals – very very near.

    They will be attacking Syria and Iran soon, what will happen when they do?

  • JD

    I think that the euro should collapse. Then the entire world can start over again. Bailouts only prolong the misery without ever solving the problem. It hasnt done us much good.

  • SC23

    Ran across this jewel a minute ago…
    From Reuters:
    “Germany’s top court handed the country’s parliament a greater say over euro zone bailouts on Wednesday, in a closely-watched ruling that could hamper Berlin’s ability to act swiftly to counter a debt crisis that has plagued the currency bloc for two years.”
    http://www.reuters.com/article/2011/09/07/us-eurozone-idUSTRE78612C20110907

    Smells like the German people are getting fed up with paying everyones way.

  • dwayne

    i see here comments indicative of a deep understanding of biblical truths also an awareness of important historical events; this is both rare and encouraging. thank you.

  • Liquid Motion

    A possible solution to the q. of whether to dissolve the EUR or try to bond it through the making of a fiscal UNION….
    What seems apparent is that a decision, on either side of the fence, is a most difficult one.
    What is unfortunately required (touched on in this blog) is for an “Event” to occur that forces a paradigm shift. A little on that later. But first…

    If we analyse the international monetary system and the currencies that make up that system, then we can see from where the problems emanate. The world’s reserve currency has been butchered and mis-treated to the benefit of the holding country and will continue to be. All fiat currencies are manipulated to suit the needs of respective governments and CB’s and the banking fraternity (read fractional banking), and that includes the EURO. Debt money is a TRUE EVIL. Always has been and always will be.

    No matter whether the EUR is dissolved or unified. Dissolution just leads us all back to square one (distorted and manipulated paper money). Unification …well look at the USA for an idea about how that works (besides the fact that diff. cultures and languages would be a monumental challenge). Unification may give the impression of Strength seen through a “guiding hand” ….but this leads to control and power in an even more select “few” ……

    The paradigm shift….
    A world event …..a possible break down of the global financial system. One which by all intents and purposes is very likely to have its birth in Europe, spreading very fast to UK then across the Atlantic into USA then into China (Asia).
    When and if the system shuts down, the G20, IMF, IBS, ECB, FED will all be forced into action. The action would culminate in a NEW WORLD ORDER. One currency supported by precious metals, with representation on the New Governing Board from each of the G20 Nations.
    It has become very apparent that the current fiat monetary system does not work especially when the world banks have the power to leverage every single dollar that exists. Economic theory used as a basis for economic management has failed because the system was pushed to the extremities. The forces of nature take effect sooner or later. We have now passed the point of little or no return for every attempt through increased government/CB intervention. Governments will attempt to hold out until there is systemic failure for which they can then say we are not in this alone.
    There is no place to run and hide to. No currency to hold that is safe enough. Cherrish what you have today, for tomorrow will bring us all closer to the inevitable conclusion.

  • bob

    Don’t worry about European banks failing. The US Federal Reserve will “loan” them all the money they want at zero interest, never to be repaid. (Causing the US dollar to collapse in value) It is not publicized, but the Fed has been loaning trillions of dollars per year to the biggest US and foreign banks. The Federal Reserve has never served the American people, they serve the interests of the International banking cartel. The big bank cartel wants to crash the dollar and institute one global currency. (Which they can print at will without having to deal with any country’s congress.)

    • 007

      You are absolutely right. The Fed has a unlimited line of credit extended to the European central banks through “currency swaps”. They give us worthless Euros and we give them unlimited dollars. Eventually, all these dollars will come back to haunt us with very high inflation.

    • http://huffingtonpostvideo.blogspot.com In Demand

      The Federal Reserve is bankrupting the nation… paper money will become worthless… you have to prepare yourself and your family for the financial crisis ahead.

      (click on my profile name to go to my blog to see full video)

      This is a must see video… you have you prepare yourself and your loved ones before it’s too late.

      I’m posting my blog video here because I need to reach out to the real people who are effected by the Global Economic Crisis. Please pass this video on.

  • Kevin Beck

    Restating the best analysis of the Euro situation: “If the dollar is an IOU nothing, then the Euro is a Who-Owes-You nothing.”

    Source: Doug Casey

  • rockclimber

    There is an easy SOLUTION. Time for a GLOBAL JUBILEE. Spread the word.

  • http://globaleconomicwarning.blogspot.com Ogozi

    Government is only thinking of
    what will get them more money
    and get them re elected.

    They no longer care about the
    people they represent.

    Times are going to continue to
    get harder and harder.

    What to do about this?

    I am so glad I learned the
    answer in a web site I
    found put together by a
    millionaire.

    How to Profit like the Ultra-Rich in Times of Economic Chaos
    http://youtu.be/baFZtIfPs74

    I know this video can help you also.

  • http://theeconomiccollapseblog.com mintukumar

    The Federal Reserve is bankrupting the nation… paper money will become worthless… you have to prepare yourself and your family for the financial crisis ahead.

  • me

    “#12 George Soros: “We are on the verge of an economic collapse which starts, let’s say, in Greece. The financial system remains extremely vulnerable.”

    Huh…it sounds like Soros is almost PREDICTING what will happen.

  • Pete

    How about the Iraqui Dinar will that be re-evaluated? Does anyone have the real info on that

  • A.S.

    IN REFERENCE TO:

    #14 Stephane Deo, Paul Donovan, and Larry Hatheway of Swiss banking giant UBS: “Member states would be economically better off if they had never joined. European monetary union was generally mis-sold to the population of the Europe.”

    Sounds like the most logical and truthful comment of any European leader. The EU was a mistake and failure from the start. Lets take a lesson from them and prevent the Amero from coming into existence. Who in their right minds wants to merge the economies of Canada, U.S. and Mexico? Our economy is already bleeding to death. Why make things worse?

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