KING JESUS IS COMING FOR US ANY TIME NOW. THE RAPTURE. BE PREPARED TO GO.
In his first conversation of three hours with Israeli Prime Minister Binyamin Netanyahu on Day One, March 20, of US President Barack Obama’s visit to Israel, the two leaders finally put to rest their long dispute over a unilateral Israeli strike against Iran’s nuclear sites. In their news conference that night, both reiterated the principle that Israel has the right to independently defend itself against a perceived palpable threat from Iran - even if Washington does not share that perception. The practical application of this principle was rather different: Obama and Netanyahu spoke highly and repeatedly of the close military and intelligence cooperation their governments had developed and which they would hate above all to jeopardize. Obama: “There’s not much daylight between us on where Iran is at. Israel is differently situated than us. I would not expect Israel to defer to anyone in its decisions on this.” Netanyahu: “We do have a common intelligence assessment on this. Although the US and Israel have different vulnerabilities and capabilities… there is no argument… I am absolutely convinced that Obama is committed to preventing Iran obtaining a nuclear bomb.” He added: “Iran has not yet reached the red line I defined in my UN speech, but it is getting closer all the time.” The impression they both conveyed was that Israel’s right to strike Iran would be respected but not pursued without prior consultation with Washington. In return for this concession, the US president pledged to deepen US military assistance – hardware, funding and technology - for maintaining its qualitative military edge so as to be able to defend itself in the future as well as the present: He disclosed he had set up a team to work on extending the US military assistance program to Israel for a further 10-year period beyond the date of its expiry in 2017. Following the reports of a chemical attack in Syria and a Syrian air strike inside Lebanon this week, neither Obama nor Netanyahu showed any inclination toward possible military intervention for containing the expansion of the civil conflict raging there, although the US president did use some strong words.Having ordered a thorough inquiry into the reported chemical attack, he said: “If true, it would be a game changer and there will be consequences,” adding: “When you let that genie out of the bottle - a weapon that can cause mass devastation and death - you have to act on the information. I would be deeply skeptical of any claim that the Syrian opposition used chemical weapons.” By the time the experts determine the nature of the chemical attack and who was responsible, the dust will have settled, say debkafile's military sources.Facing the two leaders from the press seats were also top US and Israeli officials, including Secretary of State John Kerry and Defense Minister Moshe Yaalon. Kerry will be handling the Palestinian side of the Obama visit after the president’s side trip to Ramallah Thursday to meet Palestinian leader Mahmoud Abbas.Referring to peace talks with the Palestinians, the president stressed that “Israel’s security is non-negotiable” and must be assured in any peace settlement that established a sovereign Palestinian state. Netanyahu reiterated his commitment to a two-state solution based on mutual recognition and called on the Palestinians to set aside their preconditions and sit down to discuss ending their conflict once and for all. The Obama visit has evidently not generated any major moves on the Palestinian issue but will result in small Israeli-Palestinian steps for strengthening stable Palestinian Authority rule over the West Bank under Mahmoud Abbas’s leadership. The PA’s institutions and security institutions will be strengthened and US funds directed to pulling the Palestinian economy out of its hole. Abbas is expected to reciprocate by suspending anti-Israeli actions at the UN and international institutions.
THE CYPRIOTS ARE FLOCKING TO THE ATMS TODAY TO TRY TO GET THEIR CASH OUT AS I DON'T THINK THE BANKS ARE REOPENING TILL MAR 26,13 NOW.THE LINUPS ARE CRAZY I SEEN ON TV. EVEN THE DICTATOR RUSSIAN GOVERNMENT WHO HOARDED CASH IN CYPRUS BANKS CAN'T GET THEIR MONEY OUT.
Russian Prime Minister Dmitry Medvedev complained Thursday that
accounts of Russian government agencies in Cyprus had been blocked as
Cypriot Finance Minister Michalis Sarris was set to resume talks in
Moscow to secure aid.In comments released early Thursday, Medvedev warned that Russia would take a "firm" stand on Cyprus because the accounts of governmment structures had been blocked on the island.
Obama and Netanyahu agree: No Israeli strike on Iran without US assent
DEBKAfile Special Report March 20, 2013, 11:30 PM (GMT+02:00)
Obama's Israel visit starts with good cheer
In his first conversation of three hours with Israeli Prime Minister Binyamin Netanyahu on Day One, March 20, of US President Barack Obama’s visit to Israel, the two leaders finally put to rest their long dispute over a unilateral Israeli strike against Iran’s nuclear sites. In their news conference that night, both reiterated the principle that Israel has the right to independently defend itself against a perceived palpable threat from Iran - even if Washington does not share that perception. The practical application of this principle was rather different: Obama and Netanyahu spoke highly and repeatedly of the close military and intelligence cooperation their governments had developed and which they would hate above all to jeopardize. Obama: “There’s not much daylight between us on where Iran is at. Israel is differently situated than us. I would not expect Israel to defer to anyone in its decisions on this.” Netanyahu: “We do have a common intelligence assessment on this. Although the US and Israel have different vulnerabilities and capabilities… there is no argument… I am absolutely convinced that Obama is committed to preventing Iran obtaining a nuclear bomb.” He added: “Iran has not yet reached the red line I defined in my UN speech, but it is getting closer all the time.” The impression they both conveyed was that Israel’s right to strike Iran would be respected but not pursued without prior consultation with Washington. In return for this concession, the US president pledged to deepen US military assistance – hardware, funding and technology - for maintaining its qualitative military edge so as to be able to defend itself in the future as well as the present: He disclosed he had set up a team to work on extending the US military assistance program to Israel for a further 10-year period beyond the date of its expiry in 2017. Following the reports of a chemical attack in Syria and a Syrian air strike inside Lebanon this week, neither Obama nor Netanyahu showed any inclination toward possible military intervention for containing the expansion of the civil conflict raging there, although the US president did use some strong words.Having ordered a thorough inquiry into the reported chemical attack, he said: “If true, it would be a game changer and there will be consequences,” adding: “When you let that genie out of the bottle - a weapon that can cause mass devastation and death - you have to act on the information. I would be deeply skeptical of any claim that the Syrian opposition used chemical weapons.” By the time the experts determine the nature of the chemical attack and who was responsible, the dust will have settled, say debkafile's military sources.Facing the two leaders from the press seats were also top US and Israeli officials, including Secretary of State John Kerry and Defense Minister Moshe Yaalon. Kerry will be handling the Palestinian side of the Obama visit after the president’s side trip to Ramallah Thursday to meet Palestinian leader Mahmoud Abbas.Referring to peace talks with the Palestinians, the president stressed that “Israel’s security is non-negotiable” and must be assured in any peace settlement that established a sovereign Palestinian state. Netanyahu reiterated his commitment to a two-state solution based on mutual recognition and called on the Palestinians to set aside their preconditions and sit down to discuss ending their conflict once and for all. The Obama visit has evidently not generated any major moves on the Palestinian issue but will result in small Israeli-Palestinian steps for strengthening stable Palestinian Authority rule over the West Bank under Mahmoud Abbas’s leadership. The PA’s institutions and security institutions will be strengthened and US funds directed to pulling the Palestinian economy out of its hole. Abbas is expected to reciprocate by suspending anti-Israeli actions at the UN and international institutions.
THE CYPRIOTS ARE FLOCKING TO THE ATMS TODAY TO TRY TO GET THEIR CASH OUT AS I DON'T THINK THE BANKS ARE REOPENING TILL MAR 26,13 NOW.THE LINUPS ARE CRAZY I SEEN ON TV. EVEN THE DICTATOR RUSSIAN GOVERNMENT WHO HOARDED CASH IN CYPRUS BANKS CAN'T GET THEIR MONEY OUT.
Two-thirds of Cypriots happy to quit euro
Today @ 10:51 MAR 21,13
A poll by Prime Consulting published on Thursday says that 67.3
percent of Cypriots would be happy to quit the euro and to forge better
relations with Russia. It adds that 91 percent of them backed the
Cypriot parliament's decision, earlier this week, to dump the EU bailout
plan.
Russia complains government accounts blocked in Cyprus
"A large number of our open public structures work through Cyprus.
They now have money blocked for reasons that are unclear, because the
source of that money is obvious. This money is declared everywhere.
These include government structures," Medvedev said in an interview
published early Thursday on the Russian government website."That's why we have to take quite a firm position on the events around Cyprus and regulating the debt of Cyprus," he said.Sarris was expected to continue talks Thursday after holding meetings
with his Russian counterpart Anton Siluanov and First Deputy Prime
Minister Igor Shuvalov on Wednesday that failed to produce tangible
results as Russia sought lucractive assets in exchange for more help.The head of the European Commission, Jose Manuel Barroso, was also set to begin talks with Medvedev on Thursday, with Cyprus to top the agenda.Sarris has vowed to stay in Moscow until some agreement is reached
that could help his country's banks avoid bankruptcy and the island from
going into default.The Cypriot finance minister also hopes to ease the terms of a
2.5-billion-euro ($3.2-billion) loan that Moscow afforded Nicosia in
2011 and which matures in 2016.A spokesman for the Russian finance ministry said Thursday morning that he could not comment on what talks were planned.Officials familiar with Wednesday's talks were cited by Vedomosti
business daily as saying there were no concrete results and that Cyprus
did not make any offers to Russia that were immediately attractive,
although Russia was analysing them.The chief executive of Russia's largest lender, Sberbank, German
Gref, told Prime news agency late Wednesday that Cyprus had offered it
the opportunity to acquire a Cypriot bank but that Sberbank "did not
express interest."am/pvh-http://www.globalpost.com/dispatch/news/afp/130321/russia-complains-government-accounts-blocked-cyprus
Russian PM lectures Barroso on Cyprus
Today @ 13:51 MAR 21,13
By Andrew Rettman
BRUSSELS - Russian Prime Minister
Dmitry Medvedev humbled European Commission chief Jose Manuel Barroso in
public remarks on Thursday (21 March) over the EU's handling of Cyprus.Speaking alongside Barroso at a conference in Moscow, he called the
EU's original Cypriot bailout idea "to put it mildly, surprising …
absurd ... preposterous.""The situation is unpredictable and inconsistent. It [the bailout
model] has been reviewed several times. I browsed the Internet this
morning and I saw another Plan B, or a Plan C or whatever," he noted.He upbraided EU institutions for failing to give Moscow due notice of its decision.
"The system of early warning did not work very well ... that means we need to work on it," he said.
He also quoted unnamed Russian "eurosceptics" as saying: "The euro crisis has strengthened ideas that Europe is in decline in the 21st century … that the European project has turned out to be too cumbersome."
Earlier the same say, he told Russian newswire Interfax that he is thinking of reducing Russia's holding of euro-denominated currency reserves.In a sign of broader Russian upset, Leonid Grigoriev, an academic and a former Russian deputy finance minister, told a separate news conference that Russian money is no longer safe anywhere in the EU."The Cyprus situation has created new uncertainty in the banking sector. People have started thinking whether the same can happen elsewhere, in Spain, Portugal, Ireland?" he said.
The EU's Plan A for Cyprus was to lend it €10 billion, but to impose a 7-to-10 percent levy on all Cypriot savers, including Russian expats, who alone stood to lose €2 billion.It has now been scrapped.It is unclear what new model might be found.But the Cypriot finance minister, Michael Sarris, also in Moscow on Thursday, said he is in talks to give Russia shares in Cypriot "banks, natural gas [reserves]" in return for Russian bailout money.For his part, Barroso told Medvedev that the EU could not have warned Russia even if it wanted to."Regarding the conclusions of the last Eurogroup [euro finance ministers, who drew up Plan A], Russia was not informed because the governments of Europe were not informed - let's be completely open and honest about that issue. There was not a pre-decision before the Eurogroup meeting. The Eurogroup meeting concluded, I think, in the very early hours of Saturday and the decision was the result of a compromise," he said.He added: "Don't believe in this idea of the decline of Europe … The European Union is stronger than it is today fashionable to admit."Leaked documents on internal EU talks seen by the Reuters news agency give substance to Russia's criticism, however.The notes record remarks by finance officials from euro-using countries during a panicky conference call about Cyprus held on Wednesday.
According to Reuters, a French official said Cyprus' decision not to take part in the phone-debate is "a big problem … We have never seen this."A German official said Cyprus might quit the euro and there is a need to "ring-fence" other countries from contagion.A European Central Bank official said there is a "very difficult situation" because savers might pull money from the island if banks re-open next week.Meanwhile, Thomas Wieser, an Austrian-origin EU official who chaired the phone-meeting, described the situation as "foggy." He added: "The economy is going to tank in Cyprus no matter what."
"The system of early warning did not work very well ... that means we need to work on it," he said.
He also quoted unnamed Russian "eurosceptics" as saying: "The euro crisis has strengthened ideas that Europe is in decline in the 21st century … that the European project has turned out to be too cumbersome."
Earlier the same say, he told Russian newswire Interfax that he is thinking of reducing Russia's holding of euro-denominated currency reserves.In a sign of broader Russian upset, Leonid Grigoriev, an academic and a former Russian deputy finance minister, told a separate news conference that Russian money is no longer safe anywhere in the EU."The Cyprus situation has created new uncertainty in the banking sector. People have started thinking whether the same can happen elsewhere, in Spain, Portugal, Ireland?" he said.
The EU's Plan A for Cyprus was to lend it €10 billion, but to impose a 7-to-10 percent levy on all Cypriot savers, including Russian expats, who alone stood to lose €2 billion.It has now been scrapped.It is unclear what new model might be found.But the Cypriot finance minister, Michael Sarris, also in Moscow on Thursday, said he is in talks to give Russia shares in Cypriot "banks, natural gas [reserves]" in return for Russian bailout money.For his part, Barroso told Medvedev that the EU could not have warned Russia even if it wanted to."Regarding the conclusions of the last Eurogroup [euro finance ministers, who drew up Plan A], Russia was not informed because the governments of Europe were not informed - let's be completely open and honest about that issue. There was not a pre-decision before the Eurogroup meeting. The Eurogroup meeting concluded, I think, in the very early hours of Saturday and the decision was the result of a compromise," he said.He added: "Don't believe in this idea of the decline of Europe … The European Union is stronger than it is today fashionable to admit."Leaked documents on internal EU talks seen by the Reuters news agency give substance to Russia's criticism, however.The notes record remarks by finance officials from euro-using countries during a panicky conference call about Cyprus held on Wednesday.
According to Reuters, a French official said Cyprus' decision not to take part in the phone-debate is "a big problem … We have never seen this."A German official said Cyprus might quit the euro and there is a need to "ring-fence" other countries from contagion.A European Central Bank official said there is a "very difficult situation" because savers might pull money from the island if banks re-open next week.Meanwhile, Thomas Wieser, an Austrian-origin EU official who chaired the phone-meeting, described the situation as "foggy." He added: "The economy is going to tank in Cyprus no matter what."
EU commission prepares ground for far-reaching economic powers
Today @ 17:46 MAR 21,13
By Honor Mahony
BRUSSELS - The European Commission has
started preparing the ground for legislation that would prevent member
states from undertaking major tax, labour or financial reforms without
running it by the commission and other governments first.In an ideas paper published Wednesday (20 March), the commission said
this ex-ante co-ordination should concern "major national economic
reform plans and should take place at an early stage before the measures
are adopted."The suggested scope of covered policies would implicate virtually all
national government legislation - including competitiveness and
employment laws, reforms that cover product and services markets, as
well as those affecting tax systems and network industries.Financial stability and fiscal sustainability are also suggested
benchmarks for whether legislation should first be discussed in Brussels
before being implemented at home.The proposals - to eventually take shape as a draft legislation later
this year - are part of a general attempt to induce the interdependent
17-country eurozone to behave more as one political and economic entity.The current eurozone crisis has driven home how connected euro countries are.Small, about-to-be-bailout-out Cyprus, with a vastly inflated banking
sector, is considered a "systemic risk" to the rest of the eurozone.Fears that markets would drive Italy in the same direction saw EU
leaders in 2011 persuade former prime minister Silvio Berlusconi to step
down in favour of reform-minded technocrat leader Mario Monti.And member states already snipe at one another for what they consider unfair practices among their neighbours.Ireland and Cyprus are frequently criticised for their low corporate
taxes, while the Belgian government recently indicated it would complain
to the European Commission about Germany's low wages.The law could also hand far more power to the European Commission,
which already has greatly increased oversight on national budgets since
the start of the crisis in 2008.One of the questions it is asking to be considered ahead of drawing
up the legislation is whether it can have the power to make spontaneous
requests for policy information from governments and whether it make
changes to the proposed measures.The commission is also working on a proposal for "contractual
arrangements," whereby governments would enter into a contract with the
EU executive to undertake specific economic reforms.The idea was originally raised by the Netherlands, keen for a mechanism to rein in fiscally miscreant states.Key details will be whether it is only economically ailing euro
states that will undertake these contracts and whether it will be
voluntary for them to sign.As a sweetener, the commission is suggesting that member states
signing up to the contracts will have financial help under "strict
conditions" to make the reforms. But it remains unclear where this money
would come from.EU leaders are to discuss these ideas in detail at their June summit.But the legislative proposals, when they come, are bound to once more
raise questions about how to balance democratic concerns with the need
to ensure economic harmony in the eurozone.So far, EU policy makers have struggled to find a way to compensate
for national law-makers having much less say over domestic budgets.This issue is set to become much more acute when national taxation
and labour policies - key and emotive policy areas - become the business
of other member states and Brussels.
Michael Snyder
Economic Collapse
March 21, 2013
Why is the global economy in so much trouble? How can so many people be so absolutely certain that the world financial system is going to crash? Well, the truth is that when you take a look at the cold, hard numbers it is not difficult to see why the global financial pyramid scheme is destined to fail. In the United States today, there is approximately 56 trillion dollars of total debt in our financial system, but there is only about 9 trillion dollars in our bank accounts. So you could take every single penny out of the banks, multiply it by six, and you still would not have enough money to pay off all of our debts. Overall, there is about 190 trillion dollars of total debt on the planet. But global GDP is only about 70 trillion dollars. And the total notional value of all derivatives around the globe is somewhere between 600 trillion and 1500 trillion dollars. So we have a gigantic problem on our hands. The global financial system is a very shaky house of cards that has been constructed on a foundation of debt, leverage and incredibly risky derivatives. We are living in the greatest financial bubble in world history, and it isn’t going to take much to topple the entire thing. And when it falls, it is going to be the largest financial disaster in the history of the planet.The global financial system is more interconnected today than ever before, and a crisis at one major bank or in one area of the world can spread at lightning speed. As I wrote about yesterday, the entire European banking system is leveraged 26 to 1 at this point. A decline in asset values of just 4 percent would totally wipe out the equity of many of those banks, and once a financial panic begins we could potentially see major financial institutions start to go down like dominoes.We got a small taste of what that is like back in 2008, and it is inevitable that it will happen again.Anyone that would tell you that the current global financial system is sustainable does not know what they are talking about. Just look at the numbers that I have posted below.The following is the global financial pyramid scheme by the numbers…-$9,283,000,000,000 – The total amount of all bank deposits in the United States. The FDIC has just 25 billion dollars in the deposit insurance fund that is supposed to “guarantee” those deposits. In other words, the ratio of total bank deposits to insurance fund money is more than 371 to 1.-$10,012,800,000,000 – The total amount of mortgage debt in the United States. As you can see, you could take every penny out of every bank account in America and it still would not cover it.
-$10,409,500,000,000 – The M2 money supply in the United States. This is probably the most commonly used measure of the total amount of money in the U.S. economy.-$15,094,000,000,000 – U.S. GDP. It is a measure of all economic activity in the United States for a single year.-$16,749,269,587,407.53 – The size of the U.S. national debt. It has grown by more than 10 trillion dollars over the past ten years. -$32,000,000,000,000 – The total amount of money that the global elite have stashed in offshore banks (that we know about).-$50,230,844,000,000 – The total amount of government debt in the world.
-$56,280,790,000,000 – The total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system.-$61,000,000,000,000 – The combined total assets of the 50 largest banks in the world.
-$70,000,000,000,000 – The approximate size of total world GDP.-$190,000,000,000,000 – The approximate size of the total amount of debt in the entire world. It has nearly doubled in size over the past decade.-$212,525,587,000,000 – According to the U.S. government, this is the notional value of the derivatives that are being held by the top 25 banks in the United States. But those banks only have total assets of about 8.9 trillion dollars combined. In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 24 to 1.-$600,000,000,000,000 to $1,500,000,000,000,000 – The estimates of the total notional value of all global derivatives generally fall within this range. At the high end of the range, the ratio of derivatives to global GDP is more than 21 to 1.
Are you starting to get the picture? Every single day, the total amount of debt will continue to grow faster than the total amount of money until the day that this bubble bursts.What we witnessed back in 2008 was just a little “hiccup” in the system. It caused the worst economic downturn since the Great Depression, but global financial authorities were able to get things stabilized.Next time it won’t be so easy.The next wave of the economic collapse is quickly approaching. A full-blown economic depression has already started in southern Europe. Unemployment is at record highs and economic activity is contracting rapidly.The major offshore banking centers in Cyprus are on the verge of collapsing. It was just announced that they will now be closed until Tuesday, but nobody really knows for sure when they will be allowed to reopen. And there is already talk that when they do reopen that there will be strict limits on how much money people can take out.
And now the IMF is warning that the three biggest banks in Slovenia are failing and that a billion euros will be needed to bail them out.The dominoes are starting to tumble, and the United States won’t be immune. In fact, the greatest financial problems that the United States has ever seen are on the horizon.But you can just have faith that Ben Bernanke, Barack Obama and the U.S. Congress know exactly what they are doing and will be able to save us from the coming financial collapse if you want.The mainstream media will provide you with all of the positive economic news that you could possibly want. They are giddy about the fact that the Dow keeps hitting all-time highs and they would have us all believe that we are in the midst of a robust economic recovery. You can listen to them if you want to.But when you are tempted to believe that everything is going to be “okay” somehow, just go back and look at the numbers there were posted above one more time.There is no way that the global financial pyramid scheme is going to be able to hold up for too much longer. At some point it is going to totally collapse. When that happens, will you be ready?
This article was posted: Thursday, March 21, 2013 at 6:53 am
Why Is The World Economy Doomed? The Global Financial Pyramid Scheme By The Numbers
Economic Collapse
March 21, 2013
Why is the global economy in so much trouble? How can so many people be so absolutely certain that the world financial system is going to crash? Well, the truth is that when you take a look at the cold, hard numbers it is not difficult to see why the global financial pyramid scheme is destined to fail. In the United States today, there is approximately 56 trillion dollars of total debt in our financial system, but there is only about 9 trillion dollars in our bank accounts. So you could take every single penny out of the banks, multiply it by six, and you still would not have enough money to pay off all of our debts. Overall, there is about 190 trillion dollars of total debt on the planet. But global GDP is only about 70 trillion dollars. And the total notional value of all derivatives around the globe is somewhere between 600 trillion and 1500 trillion dollars. So we have a gigantic problem on our hands. The global financial system is a very shaky house of cards that has been constructed on a foundation of debt, leverage and incredibly risky derivatives. We are living in the greatest financial bubble in world history, and it isn’t going to take much to topple the entire thing. And when it falls, it is going to be the largest financial disaster in the history of the planet.The global financial system is more interconnected today than ever before, and a crisis at one major bank or in one area of the world can spread at lightning speed. As I wrote about yesterday, the entire European banking system is leveraged 26 to 1 at this point. A decline in asset values of just 4 percent would totally wipe out the equity of many of those banks, and once a financial panic begins we could potentially see major financial institutions start to go down like dominoes.We got a small taste of what that is like back in 2008, and it is inevitable that it will happen again.Anyone that would tell you that the current global financial system is sustainable does not know what they are talking about. Just look at the numbers that I have posted below.The following is the global financial pyramid scheme by the numbers…-$9,283,000,000,000 – The total amount of all bank deposits in the United States. The FDIC has just 25 billion dollars in the deposit insurance fund that is supposed to “guarantee” those deposits. In other words, the ratio of total bank deposits to insurance fund money is more than 371 to 1.-$10,012,800,000,000 – The total amount of mortgage debt in the United States. As you can see, you could take every penny out of every bank account in America and it still would not cover it.
-$10,409,500,000,000 – The M2 money supply in the United States. This is probably the most commonly used measure of the total amount of money in the U.S. economy.-$15,094,000,000,000 – U.S. GDP. It is a measure of all economic activity in the United States for a single year.-$16,749,269,587,407.53 – The size of the U.S. national debt. It has grown by more than 10 trillion dollars over the past ten years. -$32,000,000,000,000 – The total amount of money that the global elite have stashed in offshore banks (that we know about).-$50,230,844,000,000 – The total amount of government debt in the world.
-$56,280,790,000,000 – The total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system.-$61,000,000,000,000 – The combined total assets of the 50 largest banks in the world.
-$70,000,000,000,000 – The approximate size of total world GDP.-$190,000,000,000,000 – The approximate size of the total amount of debt in the entire world. It has nearly doubled in size over the past decade.-$212,525,587,000,000 – According to the U.S. government, this is the notional value of the derivatives that are being held by the top 25 banks in the United States. But those banks only have total assets of about 8.9 trillion dollars combined. In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 24 to 1.-$600,000,000,000,000 to $1,500,000,000,000,000 – The estimates of the total notional value of all global derivatives generally fall within this range. At the high end of the range, the ratio of derivatives to global GDP is more than 21 to 1.
Are you starting to get the picture? Every single day, the total amount of debt will continue to grow faster than the total amount of money until the day that this bubble bursts.What we witnessed back in 2008 was just a little “hiccup” in the system. It caused the worst economic downturn since the Great Depression, but global financial authorities were able to get things stabilized.Next time it won’t be so easy.The next wave of the economic collapse is quickly approaching. A full-blown economic depression has already started in southern Europe. Unemployment is at record highs and economic activity is contracting rapidly.The major offshore banking centers in Cyprus are on the verge of collapsing. It was just announced that they will now be closed until Tuesday, but nobody really knows for sure when they will be allowed to reopen. And there is already talk that when they do reopen that there will be strict limits on how much money people can take out.
And now the IMF is warning that the three biggest banks in Slovenia are failing and that a billion euros will be needed to bail them out.The dominoes are starting to tumble, and the United States won’t be immune. In fact, the greatest financial problems that the United States has ever seen are on the horizon.But you can just have faith that Ben Bernanke, Barack Obama and the U.S. Congress know exactly what they are doing and will be able to save us from the coming financial collapse if you want.The mainstream media will provide you with all of the positive economic news that you could possibly want. They are giddy about the fact that the Dow keeps hitting all-time highs and they would have us all believe that we are in the midst of a robust economic recovery. You can listen to them if you want to.But when you are tempted to believe that everything is going to be “okay” somehow, just go back and look at the numbers there were posted above one more time.There is no way that the global financial pyramid scheme is going to be able to hold up for too much longer. At some point it is going to totally collapse. When that happens, will you be ready?
This article was posted: Thursday, March 21, 2013 at 6:53 am
