The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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The Mystery Of The Shemitah

The Air Has Been Let Out Of The Balloon

Do you hear that sound?  It is the sound of Europe being hit with a cold dose of financial reality.  The air has been let out of the balloon, and investors all over the world are realizing that absolutely nothing has been solved in Europe.  The solutions being proposed by the politicians in Europe are just going to make things worse.  You don't solve a sovereign debt crisis by shredding confidence in sovereign debt.  But that is exactly what the "voluntary 50% haircut" has done.  You don't solve a sovereign debt crisis by pumping up your "bailout fund" with borrowed money from China, Russia and Brazil.  More debt is just going to make things even worse down the road.  You don't solve a sovereign debt crisis by causing a massive credit crunch.  By giving European banks only until June 2012 to dramatically improve their credit ratios, it is going to force many of them to seriously cut back on lending.  A massive credit crunch would significantly slow down economic activity in Europe and that is about the last thing that the Europeans need right now.  If the deal that was reached last week was the "best shot" that Europe has got, then we are all in for a world of hurt.

On Monday, investors all over the globe began to understand the situation that we are now facing.  The Dow was down 276 points, and the euphoria of late last week had almost entirely dissipated.

But much more important is what is happening to European bonds.

Investors are reacting very negatively to the European debt deal by demanding higher returns on bonds.

Perhaps the most important financial number in the world right now is the yield on 10 year Italian bonds.

The yield on 10 year Italian bonds is up over 6 percent, and the 6 percent mark is a key psychological barrier.  If it stays above this mark or goes even higher, that is going to mean big trouble for Italy.

The Italian government just can't afford for debt to be this expensive.  The higher the yield on 10 year bonds goes, the worse things are going to be for Italy financially.

Of course it was completely and totally predictable that this would happen as a result of the "voluntary 50% haircut" that is being forced on private Greek bondholders, but the politicians over in Europe decided to go this route anyway.

Major Italian banks also got hammered on Monday.  The following is how a CNN article described the carnage....

Shares of UniCredit, the largest bank in Italy, sunk more than 4% on Friday in Milan and were down nearly another 6% Monday. Intesa, the second-largest Italian bank, slipped 7% Monday, while Mediobanca, Italy's third-largest financial institution, fell about 4%.

The financial world can handle a financial collapse in Greece.  But a financial collapse in Italy would essentially be the equivalent of financial armageddon for Europe.

That is why Italy is so vitally important.

Another EU nation to watch closely is Portugal.

The yield on 2 year Portuguese bonds is now over 18 percent.  A year ago, the yield on those bonds was about 4 percent.

In many ways, Portugal is in even worse shape than Greece.

A recent article by Ambrose Evans-Pritchard discussed the debt problems that Portugal is faced with.  The following statistic was quite eye-opening for me....

Portugal’s public and private debt will reach 360pc of GDP by next year, far higher than in Greece.

Like Greece, Portugal is essentially insolvent at this point.  Their current financial situation is unsustainable and politicians in Portugal are already suggesting that they should be able to get a "sweet deal" similar to what Greece just got.

You see, the truth is that what this Greek debt deal has done is that it has opened up Pandora's Box.  Most of the financially troubled nations in Europe are eventually going to want a "deal", and this uncertainty is going to drive investors crazy.

There is very little positive that can be said about this debt deal.  It has bought Europe a few months perhaps, but that is about it.

As the new week dawned, financial professionals all over the globe were harshly criticizing this deal....

*The CEO of TrimTabs Investment Research, Charles Biderman, says that the big problem with this deal is that the fundamental issues have not been addressed....

"The euphoria about the latest euro zone bailout will fade quickly, as investors realize that the underlying solvency issues have not been addressed"

*Bob Janjuah of Nomura Securities International in London was even harsher....

"This latest round of euro zone shock and awe is, in my view, nothing more than a confidence trick and has possibly even set up an even worse financial outcome."

In fact, Janjuah says that the debt deal is essentially a "Ponzi scheme"....

This latest bailout relies on the market not calling what I see is a huge "bluff", because if the market does call it, the bailout simply won't be credible or even deliverable. It is instead akin to a self-referencing ponzi scheme, and I can't believe eurozone policymakers have even considered going down this route. After all, we all have recent experience of how such ponzi schemes end, and we all remember how eurozone officials often belittled and berated US policymakers for their role in the US housing/CDO/SIV financial bubble.

*The chief economist at High Frequency Economics, Carl Weinberg, is calling the European debt deal a scheme "of Madoffian proportions"....

"Now they (EU Leaders) are keen to tap into resources that are not their own to fund this crazy scheme of guarantees, leveraged off guarantees to sell bonds and bank shares that no one may want to buy, (in order) to restore value in the banking system destroyed by other bonds that no one wants to own right now. This is a construct of Madoffian proportions"

Even George Soros is criticizing the deal.  George Soros is saying that this European debt deal will help stabilize things for a maximum of three months.

Of course with Soros there is always an agenda and you never know what his motives are.  Perhaps he is honestly concerned about the financial health of Europe, or perhaps he is trying to feed the panic to get Europe to crash even faster.  With Soros you never really know what he is up to.

In any event, the crisis in Europe is already claiming financial casualties in the United States.

MF Global, a securities firm headed up by former New Jersey governor Jon Corzine, has filed for bankruptcy protection.

As a recent CNBC article noted, the firm failed because of bad debts on European sovereign debt....

The bankruptcy protection filing from MF Global — a mid-sized trading firm run by former New Jersey Gov. and Goldman Sachs CEO Jon Corzine — only helped amplify the realization that more difficulties remain. MF Global got into trouble mainly because Corzine made tragically wrong bets on European sovereigns that unraveled when it became clear that bondholders of Greek debt will not be made whole as the nation tries to make its way out of its fiscal morass.

As time goes on, there will be more financial casualties.  The truth is that someone is going to pay the price for the financial foolishness of these countries in Europe.

Politicians in Europe did not want to increase the "bailout fund" with any of their own money, so they are going to go crawling to China, Russia and Brazil and beg those countries to lend them huge amounts of money.

This is incredibly foolish, and it is already fairly clear that China is going to play hardball with Europe.  China has Europe exactly where China wants them, and China will likely demand all sorts of crazy things before they will lend Europe any cash for this bailout fund.

As a recent CNN article noted, Europe is going to be in a lot of trouble if they can't get money out of China, Russia and Brazil....

The hope is that China and other sovereign wealth fund will invest in new special vehicles that will allow the EFSF to add leverage to increase the amount of funding available.

Without the help of China, Brazil, Russia and others, Europe is back where it started. And it still seems clear that the stronger northern European nations aren't keen on the idea of a full bailout of their southern siblings.

What a mess.

It is a comedy of errors for the politicians over in Europe.  They can't seem to get anything right.  In fact, everything that they do seems to make a financial collapse in Europe even more likely.

Keep a close eye on the bond yields over in Europe.  Especially keep a close eye on the yield on 10 year Italian bonds.

A massive financial storm is coming to Europe.

It is going to rock the entire globe.

Now is the time to make certain that your financial house is not built on a foundation of sand.  Get your assets into safe places and keep them safe because the road ahead is going to be quite rocky.

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  • r.bitting

    The judgment of God is falling upon the world, and because thats what it is, you will not be able to escape it unless you know the Lord Jesus Christ. If you have not placed your trust in his sacrificial death on the cross to atone for your sins, then I can tell you with all certainty that no amount of storing food or savings, or gold and silver or weaponry will keep you from recieving his wrath.

    • Arkaden

      So God and Jesus will pay my mortgage when the SHTF? No? Maybe if I just sit home and pray, God will swing by my house and just deliver Chinese food when I’m hungry. No? Oh will God or Jesus disarm the crazed lunatic that’s trying to rob me for food? Hmm.

      I’m not bashing religion, but I am emphasizing common sense. Having faith is a great way to get yourself through tough times but when it comes time for physical survival through what’s coming down the road and I’m given a choice to bring home a pile of food, metals, and ammo for my family or just a bible, guess who’s eating tonight?

      • TX4Life

        I believe the point is that your human efforts alone will not be enough. You will need Jesus to survive what we all know is coming. Not making a choice between Jesus and preparing.

      • r.bitting

        If faith is not based in a reality, then is it a practical faith? You have a lot to say about faith not being able to deliver, while in the same breath issuing a disclaimer about not bashing religion. As for faith in God’s inability to get you through ” phyical survival ” there are many who have been there and done that who would beg to differ with you.

      • http://endtimeinfo.com Doe

        God and Jesus COULD do all that and they do many times in answer to prayer.
        God however, will not interfere with many things because he gave men free will. If he would step in and stop wars, or the ‘lunatic’ and stop this that and the other, where would you draw the line? You either have free will or you don’t.

        This might help you understand the concept:
        http://endtimeinfo.com/2011/01/in-search-of-the-truth/

    • Its the economy stupid

      Shut up about god and fairy tales. This website is about the real world. Read and prepare for what is coming. This blog should be your bible.

      • Michael

        Actually, I think that the Bible does a great good job of being the Bible. :)

        This website will stick to being a blog. ;)

        Michael

        • Tim

          No, he’s right on this one Michael.

          The Bible would not have been written if there were copyright laws. From God to Moses to Jesus, I mean Rah to Sargon to Dionysus. Yep, even your gods and prophets (my old ones)are not even original. It crushed me to find the truth out, but I realized something more important,the faith of children can only carry you so far before you parrish like so, it may be innocence, but it is not intelligent. Use that before faith, always reason and logic before faith and you will do great things. Good luck to everyone for the game will soon begin.

          • Michael

            Tim:

            I have studied this very, very intensively, and you are completely and utterly wrong about this.

            I encourage you to go back and study this more.

            Michael

          • r.bitting

            Jim Jones, Adolf Hitler and Joseph Stalin all, at one time in their lives were followers of Jesus Christ. All died athiests. Stalin, on his death bed, lifted his arm toward heaven a shook his fist at God, then he died ( but I thought he was an athiest ). Sounds like he was second guessing in the end. Maybe you should start applying some of that logic you claim to possess, put down the Richard Dawkins garbage, and just ask yourself the same question that your idol Dawkins could’nt, how can something come from nothing, or, how did it all begin. If you can provide me with the evolutionary theorists explanation of that, I will hear what you have to say. It takes more faith to believe that something came from nothing than to believe in God as our creator… You just want to be the captain of your own ship, and not have to answer to anybody..Guess again brother.

          • http://www.rembrandtphoto.com Mike L.

            I’m with you, Tim. Horus, an Egyptian god from around 3000 B.C. is the basis for Jesus. But people can believe what they want to believe. Please people just keep your religion to yourself! I was raised Catholic. But I try to keep an open mind. The more I learn, the more I realize it’s all bogus. I used to believe in Santa and the Easter bunny, too! This comment probably won’t get posted since my last “Jesus is not real” comment was edited out, too.

          • Michael

            The Horus/Jesus connection has been debunked so severely that I can’t really believe that anyone is still raising it.

            If you want to dig into some real history, look into the connections between Horus and somebody named Nimrod.

            Then you might actually be getting somewhere.

            Michael

      • Mal R.

        Well golly gee Beav. Name for me what the US
        Constitution is based on more than anything else. – Book of Deuteronomy.

        Name for me where you got your moral code – that is, unless your an amoral godless liberal animal. Was is fairy tales and God?

        • Tim

          No,actually the the Oldest Code of Laws in the World is The Code of
          Laws Promulgated by Hammurabi, King of Babylon, B.C. 2285-2242. But yes, your fairy tale there Wally stole some of those too. Sorry try again. :( – I could do this all day. there is no better high than teaching Christians the truth, for I too was lost, but have now found logic and faith and it sure does feel good to be right alllllll the time. Just kidding, you see, you kinda gain some sense of humor in the whole thing too once it starts unraveling. Brain games is now over :(

    • BraneFrees

      ::Sigh::

      So this article’s comments just HAD to start out with the inevitable, obligatory TEOTWAWKI bible-thumping.

      ::sigh again::

      • r.bitting

        Brain freeze indeed.

    • http://goto.glocalnet.net/pdn/ Perdavid Nygren

      This is the Illuminati (brotherhood of the Snake) causing order through chaos to bring forth the NWO and their “messiah”, don´t blame this on God. Even though I´m a christian and believes in Jesus Christ I also know that he that see what´s coming and still doesn´t prepare for the times ahead, he is a fool. Help from God doesn´t come like colorful magic spells as in Disney or Harry Potter.

      • r.bitting

        You should try reading the Book of Romans sometime. You will see there that God does judge often times by giving the people over to their own ways when they turn their back on him. Romans ch. 1 vs. 24 thru 28 ( God gave them over )… read it for yourself.

        • Tim

          You should try reading “The God Delusion”, it’s a 2006 bestselling non-fiction book by British biologist Richard Dawkins, professorial fellow of New College, Oxford and inaugural holder of the Charles Simonyi Chair for the Public Understanding of Science at the University of Oxford. I have read yours, will you have the guts to read mine?

          • r.bitting

            YOU should try reading the Dawkins dillusion by Ravi Zacharias. Only a fool believes in effect without cause. But please, if not God, then explain the origin of the universe, because you are stating that without a creator the universe brought itself into existence ” out of nothing, nothing comes ” without a force that transcends time and space then you still have nothing. Also, explain the moral law ( anyone who is honest with himself knows that there is objective, not subjective, but objective right and wrong ) and if right and wrong exist, then there has to be an objective moral law in which to base right and wrong on, and if theres a moral law, then there has to be a moral law giver apart from man, or else right and wrong become subjective, so that right and wrong would just be a matter of personal preference i.e I think stealing is wrong but someone else thinks it’s o.k ( until someone steals from him and then he gets upset, which disproves his whole worldview, and proves that he’s living a lie ). You are living proof of Romans ch. 1:22 ( Professing to be wise, they became fools ).

      • Charles_Texas

        I agree 100%. Although the comment “God helps those that help themselves” isn’t in the Bible, I still believe it is completely true. I for one will be prepared and have both the Bible close and a 308 locked and loaded.

    • JR

      Very true. Thank you.

    • StephenC

      Great to have this at the top of the list. It is true and hope this posting will get people reconsidering their priorities of life.

    • HerrLT

      +1 r.bitting

      God bless – we all will need his mercy for the mess we’ve created.

  • Barn Cat

    You’d have to be nuts to have any money in European government bonds. There could be a sudden loss in market value for them on almost any day.

    • McKinley Morganfield

      The bond vigilantes are not going to prop up EU private or public debt. Greece is already offering 40+% interest on 1 year T-bonds and can not find a sucker to buy into their soon to be default status. Same goes for Illinois, California, NY, etc. Contraction is the name of the game for the foreseeable future. Get ready for a rough decade ahead.

  • http://georgesblogforum.wordpress.com George Forfa

    We are watching this come top a bad end. It’s a race to the bottom, among currencies. There is a way to sort out this photo finish.

    http://georgesblogforum.wordpress.com/2011/10/31/photo-finish-update-10312011/

  • Americans For Stopping Treason

    The objective the ECB and its “Branch Banks” in Europe, is the same exact objective as the Federal Reserve Bank of the US, which is:

    1) To indebt nation(s) beyond their worth. – Check

    2) To extract every last penny of wealth. – Check.

    3) To assume control of all sovereign assest of nations. – Check

    4) To impoverish the peoples of these nations. – Check

    5) To eliminate the capacity for self-sufficiency. – Check

    6) To eliminate the nations industrial capacity. – Check

    7) To reduce populations – In progress.

    8) To assume complete control of populations. – In progress.

    NOTE: Nowhere in the UN’s, IMF’s, CFR’s, World Bank’s, Tri-lateral Commision’s and other NWO Organzations is the welfare and benefit of any nations, or its people of any regard.

    In fact, it is their mission to eliminate us,.. and they are now starting to succeed.

    Solution: Declare the UN, IMF, CFR and all other Global Organzations for what they are,.. they only real Terrorist Organzations that threaten our security, our prosperity and our very lives.

    Declare them Terror Organzations, then hold them all for the NEW Nuremburg Trials of the 21st Century.

    Hang them all!

    US Marines.

  • mondobeyondo

    European debt won’t be the first bubble to burst. Not by a long shot. And it won’t be the last, either.

    Everyone knows about the housing bubble that popped, crashed and burned. The stock market bubble will be next. History repeats itself.

    Not many people know this, but there was a huge land boom in Florida in the mid-1920′s. (It was made famous in the Marx Brothers’ movie “The Cocoanuts” in 1929.) A hurricane came along in 1926 and pretty much wiped out the Florida land boom. And in 1929, the market crashed.

    Sound familiar?

    • McKinley Morganfield

      “Everyone knows about the housing bubble that popped, crashed and burned. The stock market bubble will be next. History repeats itself.”

      1. The housing bubble has popped but not crashed and burned. Over all, real estate (residential & commercial) is still over valued buy 25% or more. 2. Yes, the equity market is way over valued. DJIA at 1,000 within a year is very possible. 3.) History does repeat as there is no new thing under the sun.

      • mondobeyondo

        If the housing market hasn’t already crashed and burned, it’s just a matter of time.
        Who’s gonna buy up all that excess inventory? Not the middle class. Many of them are unemployed, and those who do have jobs aren’t making enough money to buy a house. So I guess that leaves Fannie Mae and Freddie Mac…

        And you are correct: The stock market is one giant bubble. The only thing holding it up is all that money created during QE1 and QE2. They should replace that bull statue on Wall Street with a logo of Mr. Bubble (from the bath soap).

  • mondobeyondo

    Mamma Mia! Those poor Italians won’t be able to afford any Prego or Ragu for their spaghetti. The price of pepperoni is going up. Waaaaah!!

    Join the crowd. Some of us Americans can barely afford to buy a McRib sandwich.

    • mondobeyondo

      And, just like the average American, I would love to travel to Rome to see the Mona Lisa at the Colliseum.

      Um… yeah.

  • mondobeyondo

    And Betty Boop said, “Boom-boom-ka booom…”

  • http://markwandreysbooks.wordpress.com/ Mark Wandrey

    It’s been going in circles for years. It’s like a big game of musical chairs, only difference is there are millions of players, and only one chair. Sooner or later someone (probably China) is going to start cashing in billions one bright sunny morning, and it will all come down in flames. They’ll try to put the $hit back in the horse, but by then it will be too late.

  • McKinley Morganfield

    “The financial world can handle a financial collapse in Greece. But a financial collapse in Italy would essentially be the equivalent of financial armageddon for Europe…… Like Greece, Portugal is essentially insolvent at this point. ”

    Sorry to disagree, but the financial world can not handle the collapse of Greece simply because Greece (or Portugal) will be the pebble that starts the avalanche. Once the first one collapses into default (bankruptcy) the others will follow as investors run for the exits.

    Ask yourself this question: If you were offered 50% interest on a 1 year Italian or Spanish T-bond would you pony up to buy the bond?

  • honestann

    So, what is the solution? Simple.

    Governments must spend VASTLY LESS MONEY.

    That is the ONLY solution that works, and simultaneously the ONLY solution governments will not consider… not even for a moment.

    Therefore, the reality will be TOTAL COLLAPSE.

  • http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b John Jackson

    We are about to embark on the biggest debt bubble BURST in history. This is going to result in the biggest transfer of wealth in history. Less than 1 in 100 people know how to protect their finances moving forward. To educate yourself and preserve your purchasing power, you owe it to yourself to sign up for a free webinar that can change your life:

    http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b

  • Gary2

    Follow Icelands lead-tell the banks to ****************** themselves and default on them.

    • Mal R.

      Name the place where that tactic ended successfully.

    • McKinley Morganfield

      WoW! We’re on the same page for once. Throwing more money at the big banks to maintain ‘liquidity’ when those very same banks have trillions of junk ‘assets’ does not solve the over leveraged status of those banks. And it does nothing for the economy of main street. All that ‘liquidity’ has been used to hyper inflate the equity market and buy many billions of US T-bonds which allows DC to continue to spend like drunken sailors. Big banks are to big government as Tweedledee is to Tweedledum.

  • mark

    This is a big shell game. It will fail since you can’t fix a debt problem with more debt. The markets keep smoking hopium and want the worlds leaders to pull a rabbit out of a hat. Sorry won’t work. The problem can only be repaired over time by shrinking governments size and huge cuts in spending. People will not be willing to take the comming pain so they will riot and countries will try to print their way out of debt. This will just buy some time until a collaspe happens. Why would they be stupid enough to beg China for more cash since China has printed more of their money than Uncle Ben has. This is how fiat money always ends up when it is not backed by real wealth. You just can’t print gold and silver or pull PMs out of a hat. Maybe this blog should write about what ideas are out there to store your wealth safely from the coming depression.

  • Erin

    “As a recent CNN article noted, Europe is going to be in a lot of trouble if they can’t get money out of China, Russia and Brazil….”

    lol. CNN analytical incompetence at its best. Only the vastly greater incompetence of EU economists and politicians makes their evaluation seem vaguely credible.

  • Jeremy

    China MUST invest in Europe because it needs foreign investment inflows. The US and Europe have heavily financed Chinese development because rules and regulations from the Beijing government since the death of Deng make it very difficult (without major bribery money) for native Chinese to start business within Chinese borders.

    Chinese banks are also highly leveraged as well, and looming in the background is keeping the currency pegged with the US$. This keeps the Euro, and thus the US$, from collapsing. If the dollar collapses, then Chinese imports into the US will be even more dirt cheap than before, and workers in China will take a drastic paycut.

    These workers will then protest, and the LAST thing the Beijing government wants is social disorder (Tiananmen Square, Falun Gong, Financial crisis 2008, and recent protests in Guangzhou).

  • Josh

    Hello, thanks for the recent articles.

    Can you please write an article detailing what you mean by:
    “Now is the time to make certain that your financial house is not built on a foundation of sand. Get your assets into safe places and keep them safe because the road ahead is going to be quite rocky”.
    Besides getting out of debt, storing up precious metals and food, what are you talking about? I would like some of your thoughts on specific actions to take.

  • what?

    Is it safe to keep $ in TFSA secure savings accounts with ING bank? Aren’t they dutch owned (European derived)?

    • Otown Right Guy

      Its not safe to keep money in ANY bank ANY where right now. Get it out now and avoid the rush. Convert to silver. Its not like they are paying you any interest.

  • karen

    Read the paper Marc Faber has on WW 111, Drug Abuse and the Welfare State, he is an outspoken investment adviser. the goverments are going to stick it to you.

  • PatriotRider

    And now the Greeks have thrown gasoline on the fire by announcing this morning that they are going to have a referendum on the “debt deal”.

    I expect the DOW to drop about 4-5% today. This is as much a vote on the fraudulent EU deal as it is to stay in the EU.

    With this announcement there is effectively NO DEAL.

    Hang on, strap in, and put your tray tables in the upright position…this is going to be a rough ride..

  • jerry O

    Somebody is going to have
    to pay for all this borrowing.

    Unfortunately it is you and I.

    The only way to get money back
    is in higher taxes.

    This solution did not fix the
    problem, it only made it worse.

    While it may make things go along
    a little longer, it is about to
    blow up and economic chaos will
    continue.

    See what one millionaire has predicted
    this situation and how you can
    prepare yourself and follow
    the example of the ultra rich.

    http://theelevationgroup.net/presentation/register.php?a_aid=160667&a_bid=290b868b&chan=y

    You will be amazed at how history
    is about to repeat itself.

  • knightowl77

    I think the comparison to Ponzi is very apt….the markets are clearly irrational with their wild swings as if something had been fixed and then the realization that it hadn’t…..

    Curiouser and curiouser…

  • El Pollo de Oro

    Michael T. Snyder notes that “the financial world can handle a financial collapse in Greece, but a financial collapse in Italy would essentially be the equivalent of financial armageddon for Europe.” Yes, if Italia (Europe’s third largest economy) suffers a major financial meltdown, the repercussions will be NASTY. No doubt about it. And I would add that we also need to be very concerned about Spain, which is Europe’s fifth largest economy and has the highest unemployment in Western Europe. Unemployment among youths in the 18-25 age group is a whopping 45% in Spain. Think about it: almost one in two of college-age youths in Spain are unemployed. That’s mind-boggling. I have a lot of friends and business contacts in Europe, and make no mistake: times are incredibly bad in España.

  • Freedom!!!

    There appears to be emerging a picture of Obama whereby he is allegedly involved somehow in the MF Global fiasco. Allegedly the parties involved in MF Global are tied to Obama and it is potentially another Solyndra fiasco for the White House. In the meantime, Wall Street financing for Obama’s reelection run has run dry…but the mainstream media is currently ignoring the connection of all of this.

  • And Do What

    Re: “Now is the time to make certain that your financial house is not built on a foundation of sand. Get your assets into safe places and keep them safe because the road ahead is going to be quite rocky.” So what do you recommend? Banks, safe deposit boxes, stocks, foreign investments…nothing is safe.

  • R. N. Paling

    What you sow you reap,Greece has forty three percent of its working population on the government pay roll whenever any country has more than ten per cent of its working population on government pay rolls that country is in trouble how big is our’s? and we are in trouble just check Fort Knox it is practically empty.

  • http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b John Jackson

    We are in the midst of the biggest debt bubble the global economy has ever seen. When it bursts, it will not be pretty for most. To learn more about how YOU can become a part of our movement to restore personal wealth and freedom please visit:

    http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b

  • r.bitting

    Real change will have to happen at the family level, with a return to morality, before you will ever ( and I mean ever ) see positive change at any higher level, be it city, state, or national. It begins with a return to the God of the bible. Which is why the Book of Revelation was written in the first place. Because he knew in advance that it was’nt going to happen. Truth has stumbled in the street. The people have itching ears and have heaped to themselves those that tell them what they want to hear ( not what they need to hear ).

    • Christian for Israel

      Harvest time is almost here.

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

      Great Point!

      Family’s in America are falling apart at the seams because of a lack of True Biblical Love and Morality.

  • Kathy Smith

    r.bitting keep up the wonderful biblical messages,I am also a Christian & I believe taking GOD out of this country is why we are suffering so now. At one time this entire country was based on GOD now not so much.

  • liberranter

    The sad part about all of this is that the sheeple, both European and Amerikan, never learning **************** from history, will throw themselves at the feet of their respective governments, kicking, screaming, and demanding that these governments “do something!” Do something these governments will – shaft the little people good and hard, which is, frankly, what the majority deserves right now for its nearly century-long slumber of stupidity and ignorance.

  • http://www.learcapital.com/exactprice Hal (GT)

    “It is a comedy of errors for the politicians over in Europe.”

    At this point I think it’s more tragedy than comedy.

    But of course the truth is that they’ve not yet come to a point where they are willing to face reality. They insist on maintaining their socialistic and fascistic mindset.

  • http://YAHOO RICHARD

    FOR THOSE WHO DON’T REMEMBER THE PAST ARE DOOMED TO REPEAT IT.

  • Piglet

    “As a recent CNN article noted, Europe is going to be in a lot of trouble if they can’t get money out of China, Russia and Brazil….”

    NATO should have thought of that before Europeans bombed Libya to chase out 30,000 Chinese workers and get a percentage of the country’s oil output. Checkmate.

  • Colin

    The situation is growing worse in Europe. The government in Greece is on the verge of collapse after the country’s leader called for a referendum on the bailout.

    http://www.huffingtonpost.com/2011/11/01/greece-referendum-bombshell-george-papandreou_n_1069634.html

  • mondobeyondo

    Looks like the Greece bailout deal has run into rough seas. That’s not good. Hope they can get it together, before their youth decide to march on the Acrapolis. (Yes, I intentionally misspelled that. Well, *I* thought it was funny.)

  • Louise in MO

    In my opinion, stock markets are giant casinos where people play the odds and are happy when they win and cry when they lose. As in casino betting more people lose than win. The slots are fixed and the house always wins. There are no safe places to invest capital today and only the foolhardy believe there are.

    Banks are failing because people are getting wise; incurring no new debt and paying down the old. Bank interest rates on credit card debt have skyrocketed and people are angry and determined to give no more money to greedy bank CEOs. If you don’t have the cash….don’t buy it!

    The recent attempt by Bank of America to charge ATM fees for people using their OWN money is just one example……greed!

    Don’t alllow banks to use your money to make money for themselves. Keep discretionary money in cash at home.

    I worked for American Express some years ago and learned how credit card banks make money on the “float” on travelers checks for example.

    Simple rule….don’t by anything you don’t need and quit using credit cards!

  • OPEN UR EYES

    This blog is just plain proof of the selfishness, arrogance and pride that have consumed humanity since its reign of the earth. Everybody quick to give there opinion, deeming they are the right ones, he/she is the wrong one. Only yourself knows the truth, you just have to find it and follow the paths given to you whilst being kind to others. Having a gun, or food in storage for the “end times” is all good and well, but will only last for so long. The economic collapse will be the start of the most devastating times that our generation has known and possibly any other, all that i can really say now is that from my research and search for answers, religion, science, politics and philosophy are all linked as one. This being the higher conscious. Life is too vast to ignore the times that are and the times that have been so lets all wise up stop fighting each other. If you take the time to do some research on the “The Quickening” or the “Global mind shift” aswell as other such related articles then we would all realise the magnitude of life itself, and not the selfish ways of this material world.

  • Kathleen

    I am a Christian who believes Jesus is at the door opening it to bring His people home through the Rapture. I see what is happening and those who do believe in the Rapture will not have to worry about the world anymore. However, with increased lawlessness around us, a loaded “power tool” under your pillow can’t hurt.
    BTW where exactly is a “safe place” to put your money? Probably under the floor boards.

    • robert donaldson new zealand

      kathleen why would you be concerned for ye money lass..its not going to be worth anything in heaven, and if ye should be left here waiting for the last call then ye power tools will be most helpfilled indeed..best get a supply of batteries for the drilling machines tehehehehehehe.

  • bobbobbobbob

    amerikkka is thefailed state greeks still have universalhealth care. u want 0-care i want o-obama care. amerikkkans are the cadavers 4 med schools. see u there

  • robert donaldson new zealand

    great its finally happening,canny wait for the balloon to land ruptured..this has been all orchestrated by the moneymen..the sooner the fan picks up the scent the better..Jesus is on the way folks,… keep looking up for your redemption is near.

  • Crack Head

    I’m opting out of the elite game plan and rules. If I go down, I’ll take them with me.

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