Wednesday, January 26, 2011
2 For yourselves know perfectly that the day of the Lord so cometh as a thief in the night.
3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.
4 But ye, brethren, are not in darkness, that that day should overtake you as a thief.
5 Ye are all the children of light, and the children of the day: we are not of the night, nor of darkness.
6 Therefore let us not sleep, as do others; but let us watch and be sober.
7 For they that sleep sleep in the night; and they that be drunken are drunken in the night.
2 THESSALONIANS 2:3-4
3 Let no man deceive you by any means: for that day shall not come, except there come a falling away first, and that man of sin be revealed,(EU WORLD DICTATOR)the son of perdition;
4 Who opposeth and exalteth himself above all that is called God, or that is worshipped; so that he as God sitteth in the temple of God, shewing himself that he is God.
EU DICTATOR (WORLD LEADER)
23 Thus he said, The fourth beast(THE EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADE BLOCKS)
24 And the ten horns out of this kingdom are ten kings that shall arise:(10 NATIONS) and another shall rise after them;(#11 SPAIN) and he shall be diverse from the first, and he shall subdue three kings.(BE HEAD OF 3 KINGS OR NATIONS).
12 And the ten horns (NATIONS) which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.(SOCIALISM)
13 These have one mind,(SOCIALISM) and shall give their power and strength unto the beast.
1 And I saw when the Lamb opened one of the seals, and I heard, as it were the noise of thunder, one of the four beasts saying, Come and see.
2 And I saw, and behold a white horse:(PEACE) and he that sat on him had a bow;(EU DICTATOR) and a crown was given unto him:(PRESIDENT OF THE EU) and he went forth conquering, and to conquer.(MILITARY GENIUS)
2 THESSALONIANS 2:9-12
9 Even him,(EU WORLD DICTATOR) whose coming is after the working of Satan with all power and signs and lying wonders,
10 And with all deceivableness of unrighteousness in them that perish; because they received not the love of the truth, that they might be saved.
11 And for this cause God shall send them strong delusion,(THE FALSE RESURRECTION BY THE WORLD DICTATOR) that they should believe a lie:
12 That they all might be damned who believed not the truth, but had pleasure in unrighteousness.
1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.(THE EU AND ITS DICTATOR IS GODLESS)
2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority.(DICTATOR COMES FROM NEW AGE OR OCCULT)
3 And I saw one of his heads as it were wounded to death;(MURDERERD) and his deadly wound was healed:(COMES BACK TO LIFE) and all the world wondered after the beast.(THE WORLD THINKS ITS GOD IN THE FLESH, MESSIAH TO ISRAEL)
4 And they worshipped the dragon (SATAN) which gave power unto the beast:(JEWISH EU DICTATOR) and they worshipped the beast, saying, Who is like unto the beast? who is able to make war with him?(FALSE RESURRECTION,SATAN BRINGS HIM TO LIFE)
5 And there was given unto him a mouth speaking great things and blasphemies; and power was given unto him to continue forty and two months.(GIVEN WORLD CONTROL FOR 3 1/2YRS)
6 And he opened his mouth in blasphemy against God,(HES A GOD HATER) to blaspheme his name, and his tabernacle, and them that dwell in heaven.(HES A LIBERAL OR DEMOCRAT,WILL PUT ANYTHING ABOUT GOD DOWN)
7 And it was given unto him to make war with the saints,(BEHEAD THEM) and to overcome them: and power was given him over all kindreds, and tongues, and nations.(WORLD DOMINATION)
8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.(WORLD DICTATOR)
9 If any man have an ear, let him hear.
10 He that leadeth into captivity shall go into captivity: he that killeth with the sword must be killed with the sword. Here is the patience and the faith of the saints.(SAVED CHRISTIANS AND JEWS DIE FOR THEIR FAITH AT THIS TIME,NOW WE ARE SAVED BY GRACE BUT DURING THE 7 YEARS OF HELL ON EARTH, PEOPLE WILL BE PUT TO DEATH (BEHEADINGS) FOR THEIR BELIEF IN GOD (JESUS) OR THE BIBLE.
26 And after threescore and two weeks shall Messiah be cut off, but not for himself: and the people of the prince that shall come (ROMANS IN AD 70) shall destroy the city and the sanctuary;(ROMANS DESTROYED THE 2ND TEMPLE) and the end thereof shall be with a flood, and unto the end of the war desolations are determined.
27 And he( EU ROMAN, JEWISH DICTATOR) shall confirm the covenant with many for one week:( 7 YEARS) and in the midst of the week he shall cause the sacrifice and the oblation to cease,( 3 1/2 YRS) and for the overspreading of abominations he shall make it desolate, even until the consummation, and that determined shall be poured upon the desolate.
We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent.James Paul Warburg appearing before the Senate on 7th February 1950
Like a famous WWII Belgian General,Paul Henry Spock said in 1957:We need no commission, we have already too many. What we need is a man who is great enough to be able to keep all the people in subjection to himself and to lift us out of the economic bog into which we threaten to sink. Send us such a man. Be he a god or a devil, we will accept him.And today, sadly, the world is indeed ready for such a man.
SPOOKY DUDE GEORGE SOROS WAS INTERVIEWED FROM DAVOS AND HE SAID EUROPE (EU) IS MAKING IT THROUGHT THIS ECONOMIC TROUBLE BUT IT WILL END UP TO BE A 2 TIER CLUB. JUST LIKE THE BIBLE SAYS SAYS 10 CORE NATIONS WITH WORLD GOVERNMENT CONTROL OF THE 10 WORLD REGIONS OF THE ECONOMY.
SPOOKY DUDE SOROS INTERVIEW AT DAVOS
TRICHET WAS ON CNBC ILL TRY TO GET THE EUROPEAN EU CONTROLLED BANKER INTERVIEW.TRICHET SAID IN THE INTERVIEW THAT THE EU MUST OBIDE BY THE IMF SANCTIONS AND TAKE THEIR LOANS AND LET THE IMF CONTROL THEIR STATES.MEANWHILE THE MONEY COMES FROM TRICHETS EUROPEAN CENTRAL BANK ALSO,SO ONCE AGAIN A BANKER-TRICHET AND THE IMF - BANKERS CONTROL THE EUROPEAN UNION.AS DOES THE BANKERS CONTROL AMERICA-THE FEDERAL RESERVE.(INDEPENDENT BANKERS)
DAVOS 2011 HAPPENINGS
Trichet Says Euro Debt Resolution Work in Progress
Published: Wednesday, 26 Jan 2011 | 1:09 PM ET By: Reuters
Well it is a work in progress of course and we are calling on all partners to do the job, Trichet told Reuters Insider television at the World Economic Forum in Davos.
They all have to be ahead of the curve in terms of proving to investors, savers, their own households and entrepreneurs that they are doing the job.Trichet repeated his call for the euro zone's rescue fund to be extended and made more flexible and said that could include allowing it to buy government bonds.That is part of the overall flexibility, he said.I don't want to dictate measures to governments.After a rocky start to the year, smooth debt auctions in countries like Portugal, Spain and Italy, and promises by euro zone leaders to unveil a new anti-crisis package at a March 24-25 summit have halted the contagion that led some experts to question last year whether the euro would survive.Trichet said he had nothing to add to the last ECB statement he delivered on inflation after the ECB left rates at a record low 1.0 percent earlier this month.A Reuters poll of 82 economists, published on Wednesday, produced a median forecast for the first ECB rate rise in the final three months of this year or early next.Euro zone inflation exceeded the European Central Bank's two percent target for the first time in two years last month.
Halftime: Trichet Comments Make Trader More Bullish on US
Published: Wednesday, 26 Jan 2011 | 1:47 PM ET By: Lee Brodie
This afternoon investors all over the world were glued to CNBC, as Mario Bartiromo spoke with European Central Bank President Jean-Claude Trichet in an exclusive interview.And immediately following the conversation the Fast traders believed some of those comments made by Trichet will be market moving in the days and week ahead.
But according to trader Steve Cortes –they’ll be bullish for the US- not Europe.
That may sound counter-intuitive but he felt the most important thing Trichet said had to do with inflation. Our doctrine is to do whatever is necessary to deliver price stability in the medium run, Trichet said.And he added, by continuing to have a solid anchoring of inflation expectations we are paving the way for sustainable growth and job creation. On top of that he said in the long-term the present level of interest rates was a problem.Cortes takes all that to mean keeping the inflation genie in the bottle is priority one for the ECB. And down the road that translates into a stronger euro [EUR=X 1.3681 -0.0004 (-0.03%) ] and higher rates - at least in some form.
Problem is, according to Cortes, a stronger euro and rising rates are about the last two things Europe needs right now.He argues a stronger euro could prevent Europe from exporting their way to prosperity. And he reminds the desk that in Spain unemployment is 20%. Among youth it's 40%. If you raise rates in that kind of environment I think it will be (catastrophic); even the end of the euro.In fact, to Cortes the Trichet comments serve as a reminder that I favor the US over Europe.
Trader Brian Kelly sees the trade a little differently. If you’re unemployed, higher prices make it worse,he says. If the central bank is trying to rein in prices – it’s better for you, at least in the short run.
Debt Restructuring Will Save the Euro
Posted By: Antonia Oprita | Web Producer, CNBC.com
CNBC.com | 25 Jan 2011 | 02:33 AM ET
Participants will arrive at the World Economic Forum in Davos with Swiss francs in their wallets – but their minds will be on the euro and its future. At least for this year, the European Monetary Union will remain united – in letter, if not in spirit – and no country is likely to renege on its debt obligations, analysts told CNBC.com. But debt restructuring is certainly on the horizon for later, they said.
This year I don't expect a default, Gudrun Egger, an euro zone analyst at Erste Bank told CNBC.com by telephone from Vienna. The assumption is that neither for the weaker nor for the stronger countries a break-up would be an advantage.If weaker countries decide to leave the euro zone to regain competitiveness by setting their own monetary policy, their debt would still be in euros and it would actually increase, while if stronger countries leave, their new currency would appreciate, stifling exports, Egger said.Yields on the debt of periphery euro zone countries – Greece, Ireland, Spain and Portugal – have been rising as investors speculated that one of them, at least, will default because it will not be able to reduce high levels of debt and bulging budget deficits in time.In May last year, the European Union, together with the International Monetary Fund, saved Greece with a bailout package totaling 110 billion euros ($147.4 billion).Eager to calm the markets, EU officials swiftly created the European Financial Stability Facility (EFSF), which will be able to provide up to 440 billion euros in aid to euro zone countries in difficulty.
But the establishment of the fund was not enough for nervy investors, who continued to sell the debt of the four countries – dubbed PIGS (Portugal, Italy, Greece, Spain) by market watchers – and in November 2010 the EU and the IMF had to come to the rescue again, this time helping Ireland with an 85-billion-euros bailout package.Debate about who is to blame for the crisis and who is going to pick up the tab is vociferous as the increasing problem pits poorer and richer members of the euro zone against each other.Slovakia, the poorest, announced last year that it was not going to take part in the Greek bailout and recently its finance minister said Greece would do better to restructure its bonds. Germany, the EU's growth engine, is against issuing a common Eurobond to consolidate euro-zone debt and scoffed at proposals of greater fiscal consolidation, for fear it will end up paying for less competitive countries. It also opposes boosting the EFSF.On Monday, French Economy Minister Christine Lagarde told CNBC France was still opposing the common Eurobond idea, which, she said, would mean putting the cart before the horses as it would dilute the strength of some members of the euro zone.In these conditions, it will be nearly impossible for EU policy makers to come up with a solution that will satisfy the markets, Stefan Schneider, euro zone analyst at Deutsche Bank, told CNBC.com.
The perception of the market is so wavered … I can't imagine a solution where the market will say yes, that's credible, this is it,Schneider said.Part of the problem is the fact that the EFSF, the European Union's emergency fund, is only a fraction of what it should be, Willem Buiter, a former member of the Bank of England's Monetary Policy Committee and currently an analyst with Citigroup, wrote in a recent research report.To deter runs on sovereign debt or self-validating refusals to roll over maturing debt, there is a need for a safety net big enough to satisfy any conceivable sovereign liquidity need and this, for the euro zone, should be around 2 trillion euros, according to Buiter.The size of the financial envelope of the EFSF represents underwhelming force and far too small a bazooka to deter denial of market access to even the smallest sovereign borrowers, he wrote.
A break-up of the euro zone is highly unlikely, according to Buiter, but its likelihood could increase without the right reforms, which include debt restructuring.He imagined four scenarios for the euro-zone's break-up: Greece being the only country to leave, Greece and other weaker members leaving, Germany and other strong countries exiting and a collective decision to dissolve the EMU altogether.However, analysts agree that policy makers will do everything in their power to save the monetary union.The euro zone will survive, Schneider said. In the spring of this year we'll see a stability mechanism that will foresee an institution of debt restructuring.Orderly restructuring of debt is crucial to the survival of the single currency and it will have to take place, Buiter wrote.Despite the recent drama, we believe we have only seen the opening and second act (of the debt crisis), with the rest of the plot still evolving,he wrote.In Buiter's opinion, Ireland, with its too big to save banks, is insolvent just like Greece with its spiraling debt, while Portugal is quietly insolvent at the current levels of interest rates and with its anemic growth.To prevent disorderly, involuntary defaults, European policymakers will have to set up a clear way for restructuring sovereign debt once a new, permanent European Stability Mechanism is put in place when the EFSF expires in mid-2013, he wrote.EU finance ministers refused, in a recent meeting, to commit to increasing the EFSF and for the moment all countries – even Greece – deny that debt restructuring will take place, although murmurs have started to appear.
Don't Touch the Banks?
Policymakers are taking into consideration all kinds of solutions to come up with the cash needed. One recent proposal suggested imposing a one-off tax on banks to fund the European Stability Mechanism.But, as some analysts point out, this could actually exacerbate the problem since European banks are so exposed to the sovereign debt.The proposal … would be counterproductive, Schneider said. Banks also need to be recapitalized. If you weaken the banking system, there will be spillover effects.
The European Central Bank's credibility, already hit hard, is likely to suffer further as it will keep its central role in fighting the crisis.With EU leaders unwilling to take action to cure the sovereign solvency issues, the burden to maintain stability within the euro zone rests entirely on the ECB's shoulders, Peter Vanden Houte, chief euro zone economist at ING, said.Because of this, despite signs of rising inflationary pressures, it is very unlikely that the ECB will be raising the rates in 2011, Vanden Houte added.What happens in Spain, the biggest of the euro zone periphery countries, is now crucial. Spain is, according to some analysts, the most solid and if it manages to make it through the market turmoil without a bailout, the crisis will likely be contained.Spain doesn't have such a competitiveness problem, doesn't have such a huge public debt problem, Schneider said. If there is a need to recapitalize banks, they could cope with that internally.
Politicians hope to draw the line in the sand before Spain,he added.
CNBC's Davos 2011: Downside of Globalization Tests Economic Cooperation
CNBC.com | 24 Jan 2011 | 11:36 AM ET
Political and business leaders invited to the World Economic Forum's annual meeting in Davos this week will sift through the blessings and curses of global interdependence that not only brought the world’s economies to a collective low three years ago but also provide the only realistic return to prosperity.Economic growth has resumed in much of the world, but recovery has been slight and fragile.
The world is no position to face major, new shocks, concluded the World Economic Forum’s annual risk survey. The financial crisis has reduced global economic resilience, while increasing geo-political tension and heightened social concerns suggest that both governments and societies are less able than ever to cope with global challenges.The report, meant to set the table for Davos’ attendees, set an ominous tone underscored by WEF founder Klaus Schwab.We should not look to old-world recipes, since unfettered capitalism and state-directed collectivism have both been bankrupted as guiding ideologies, he sais in a recent media briefing. Our only way out is the stakeholder concept. The pursuit of our own interests can only be substantially realized by incorporating the interests of all those with whom we have a mutually dependent relationship.
Two Sides Of Globalization
Over the past 50 years, the global exchange of information, goods, services, capital, technology, ideas and people has fostered a rise in standards of living throughout much of the world. Yet, as the editors of a new book, The Dark Side of Globalization, point out, The growth in transnational flows has not been matched by an equivalent growth in global governance mechanisms to regulate them.Jorge Heine & Ramesh Thakur, two political science professors from the University of Waterloo, Ontario, write, The notion that endless liberalization, deregulation and relaxation of capital and all border controls (except labor) will assure perpetual self-sustaining growth and prosperity has proven to be delusional.The new year finds the European Union still mired in its first major test—stronger members like Germany and France propping up debt-heavy ones like Greece, Ireland and Portugal.The EU has a monetary union but not a fiscal or regulatory union, says Jamie Metzl, executive vice president of the Asia Society. That puts pressure on countries like Germany that have to bear enormous responsibility for the well-being of the whole union. It’s going to cause enormous problems since there are such diverse regulatory environments.
Push Vs. Pull
As French President Nicolas Sarkozy observed: We can't share the same currency and have different economic strategies.China, India and other emerging countries struggle to restrain inflation that is driving up the cost of goods and labor in ways that threaten their reputations as low-cost havens. In November, China posted a 5.1-percent annual gain in its consumer price index, the largest in more than two years. Defensive measures brought it down to 4.6 percent in December.The United States and China accuse each other of engaging in currency wars that threaten to undermine the cooperation needed for global recovery.And while engineering its own economic recovery, the U.S. continues to increase its deficit while largely ignoring calls to cut spending.The bond crises we’ve seen in Greece and Ireland may not be unique to them, says Metzl, a National Security Council staffer in the Clinton Administration. If the U.S. continues to amass debt like we have, we’ll have a bond crisis here. It may not be the same, but it won’t be entirely different.
The current global order is built around the notion that some countries will be consumers and some will be producers, said Armagan Gezici, a Turkish-born economics professor at Keene State College in New Hampshire.This order is fed by an increasingly fragile global financial order, she says. Countries that can still export and generate exports revenues seem to emerge as strong ones, while the economies of the others have been struggling. The latter group now includes the U.S. and the U.K., which have not been known as the weak countries in the world.Such countries should accept that they cannot go on living on debt forever, adds Gezici, especially if the debt creation is completely left into unregulated hands of a global financial industry. Finance capital is a too dangerous of a beast to be the engine of long-term, stable growth.The Davos risk survey refers to the threat of a new economic crisis, which could arise from the tension between the increasing power and wealth of emerging economies and the high levels of debt in the west.
Despite continued economic turmoil, various frameworks for global governance continue to grapple with its causes, as evidence of global teamwork emerges.In recent weeks, Japan pledged to buy 20 percent of the EU bonds that will be issued soon to support Ireland. Also this month, China agreed to buy debt from Spain, the EU’s fourth-largest economy, after agreeing last year to buy bonds issued by Greece.
Earlier this month, banking regulators representing 27 of the world’s largest economies agreed to raise worldwide capital requirements whenever a country declares its economy is overheated.Members of The Basel Committee on Banking Supervision voted to require banks within the country to hold extra capital to protect against potential losses, and other countries with exposure to the bubble country would follow suit.This is very significant, because it takes the regulatory community into protecting the health of the entire system rather than just individual banks, said Paul Tucker, deputy governor of the Bank of England. They’ve crossed a Rubicon, says Barbara Matthews, a U.S.-based regulatory consultant. Up until now the Basel committee has been about making banks safe. They are now implementing a tool kit that blurs the line between regulation and economic policy.
G-20 Steps Up, Falls Down
In 2009, the so-called G-20, which is made up of countries that represent 85 percent of the world’s economies, agreed in at its meeting in Pittsburgh to become the new permanent council for international economic cooperation, replacing the smaller G8.
At the outset of the global financial crisis, measures taken appeared ad hoc or temporary, says Gezici. But the decision at the Pittsburgh Summit in September 2009 to institutionalize the Group of 20 reflects a marked shift in the locus of leadership.The G-20 adopted a proposal from President Obama that outlined a process for economic cooperation to help ensure that worldwide recovery is sustained. It’s the first time such a large number of countries agreed to work together on each others’ economies, regulatory reforms and future growth. But the group’s subsequent meeting last November in Korea stalled, failing to capitalize on earlier progress as members disagreed on how to best foster global growth.Korea showed that the G20 goal of strong, sustainable and balanced growth is nothing but a mantra with few follow-through policies, says Gezici. The underlying problem is that it is impossible to force nations to agree when they have irreconcilable differences over their global economics analysis and policy prescriptions.Davos founder Schwab said this year, the G20 will have to demonstrate that it can address not only the necessary financial reforms but also questions of global governance, the reform of the global monetary system and the scarcity and fair distribution of natural resources.An individual nation’s economic troubles now ripple across world markets in hours, even minutes yet global solutions remain elusive and nearly impossible to implement. We are entering uncharted waters, says Metzl.American debt is a big challenge, as is the overheating of the Chinese economy and the growing debt crisis in the European Union. We have lived in a U.S.-led, rules-based economy for some seven decades, and something new is now emerging. In a post-American world, no one knows yet what the rules are or appreciates the dangers.URL: http://www.cnbc.com/id/40794881/
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