Archive for the 'Problems in Europe' Category
Americans must awaken to the reality that what has happened to the banking system in Cyprus can also happen here. In fact, the U.S. banking system almost collapsed in 2007, and the nation’s overall economy has still not recovered.
American history includes events related to those in Cyprus. sovereign-investor.com reveals such history in ‘Is America the Next Cyprus?: “During the Great Depression, over 9,000 banks failed––4,000 in 1933 alone––costing depositors more than $140 billion! That would be $2.45 trillion today.
“President Franklin Roosevelt’s first act as commander in chief was to declare a national “bank holiday––closing banks for a three-day cooling off period and setting limits to the amount depositors could withdraw.” Obvious similarities!
Since near disaster in 2007, the U.S. banking system is thriving. Certainly its stock market is. But our nation’s middle class is not doing nearly as well. As for Europe, its middle and lower classes are held down by no-growth austerity:
Two simultaneous events reveal failed banking systems within the European Union (EU): 1) EU’s attack on bank depositors in Cyprus; and 2) Investigative journalists opening millions of emails and bank records to expose thousands of off-shore bank accounts held by EU politicians and their super-rich supporters.
Obviously Europe’s middle classes are overloaded with taxes, while the elite oligarchy ‘hides’ their money in ‘off-shore’ banking havens. Using one middle-class family as an example, Liz Alderman points out that ‘Cypriot Middle Class Feels Betrayed by Europe Union:’
“What most pains him [30 year-old Charalambos Alexandrou, husband and father] and many others here, though, is the feeling that Cypriot solidarity with the European Union has been shattered by international finance officials willing to let their country’s 860,000 citizens suffer for the sins of a powerful few.
“And with losses of up to 60 percent being imposed on deposit accounts above €100,000 at the Bank of Cyprus, he said even many of his friends—not just Russian oligarchs—were losing big portions of savings they so diligently tucked away during the good years.”
Greatly embarrassed to find that the wealthy in their nations hide their riches in overseas havens to avoid paying taxes, European leaders say they are toughing laws against tax evaders. Considering the many off-shore banking havens where this nation’s wealthy hide their funds, it is time for American politicians to do the same. Otherwise, we may see the woes of Cyprus fall on our shoulders as well.
Christian messages point out that God’s judgment will soon turn such hoarded wealth against the covetous rich: “Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days (James 5: 1 – 3).”
While the world and the U.S. government, keep an eye on the Middle East––i.e. war in Syria, poverty in Egypt, refugees in Jordan, etc.––little is said about the Christians fleeing nations in that region, due to severe persecutions, incarcerations, unrelenting violence, and even murder believers have suffered in their Middle Eastern homelands, simply because of their faith in The LORD Jesus Christ.
Christians have been leaving the Middle East since World War I. But what was then a slight exodus has today turned to a torrent of expatriates forced to leave nations where their families have lived for hundreds, even thousands, of years.
For instance, in the early 20th century, Christians made up 53% of the population in Jerusalem. Now that figure is less than two percent. Eighty-five percent of the citizens of Bethlehem during World War II were Christians. Today that figure is 12% or less. Those statistics reflect the same in most Arab nations.
In ‘Middle East Christians Need Our Protection: Column,’ Kirsten Powers of USA Today writes: “Up to two-thirds of Christians have fled Iraq in the past ten years to escape massacres, church burnings and constant death threats. Many Christians fled to Syria, where they are experiencing persecution anew. In Iran, U.S. pastor Saeed Abedini has been sentenced to eight years in prison for preaching Christianity.”
Lebanon use to be known as a Christian nation, but believers in Christ Jesus have fled there in droves. Even Amin Gemayel, former President of that country, said over a year ago: “Massacres are taking place for no reason and without any justification against Christians. It is only because they are Christians.”
Even as they celebrate the new leader of the Coptic Church in Egypt, the eight million Christians there feel the heat of persecution on their heels. Job loses, police persecutions, and other factors of discrimination have increase under the new Egyptian President, Mohamed Mursi of the Moslem Brotherhood.
As Yasmine Saleh of Egypt reports for Reuters News Service: “Many fear their community, the biggest Christian group in the Middle East which has long complained of discrimination, will be squeezed to the sidelines of society under Islamists now ruling the Muslim-majority nation.”
Rupert Shortt of guardian.co.uk explains the persecution of Christians in, ‘In the Middle East, the Arab Spring Has Given Way to a Christian Winter:’ “The truth about religious oppression – that it is Christians who are targeted in greater numbers than any other faith group on earth ––thus comes as a surprise to many.
“ . . . some 200 million believers, or 10% of the global total, are threatened by discrimination or harassment or outright violence. The problem extends well outside Islamic countries to include India, the communist world, and even to Buddhist-majority societies such as Burma and Sri Lanka.”
Time is running out for Christians who ‘one day’ plan to work for God. As The LORD Jesus warned in Bible prophecies: “I must work the works of Him that sent Me, while it is day: the night cometh, when no man can work (John 9: 4).”
Either Germany’s European Union (EU) severely overplayed its hand in this continuing Cyprus bank crisis, or else this is the first step in their plan to squeeze nations into economic depression by seizing assets, collapsing jobs, and attacking small businesses in order to better ready member nations for WWWIII.
Bank depositors throughout the EU now greatly agitate over their finances. Harold Maass writes: ‘Forget Cyprus: Why You Should Really Be Worrying About Italy’: “ . . . the bailout imposes losses on people . . . unnerving investors in other eurozone countries, particularly Italy, where political instability threatens to undermine the government’s attempts to confront the country’s debt crisis.”
People in every EU nation find similar concerns on their own turf. Guy Verhoftstadt suggests in ‘Avoiding the Next Cyprus’: “Perhaps Malta, which has an even bigger banking sector than Cyprus . . . much of it highly reliant on offshore depositors. Or maybe Latvia, fast becoming the destination of choice for Russian funds flowing out of Cyprus and now on course to join the euro zone.
“Even Spain or Italy could be vulnerable to a similar bailout, now that the Dutch finance minister, Jeroen Dijsselbloem, who is president of the Euro Group of finance ministers, has hinted that Cyprus could provide a model for the resolution of future banking crises.”
Cyprus is the key to understanding why the EU will probably disintegrate. Bible prophecy students remain confident that the EUwill break up before the rise of anti-Christ and his seven-year reign.
Rule over Cyprus has always been a tense struggle between Greece and Turkey. Greece is an EU member, Turkey is not. It is so intense that the United Nations has a Peace Keeping Force there to keep them from further armed conflict.
Both countries are part of what will be known as the Revived Greek Empire in these last days. And they will, during the start of that seven year reign, be on one accord of agreement. Today they are not. The same holds true for several Eastern European countries, which were part of the Roman Empire, and will be in the soon coming Revised Roman Empire.
These issues are part of Dake’s Reference Bible, especially in the Book of Revelation in the New Testament, and of Daniel in the Old Testament. More depth is covered in Dake’s ‘Revelation Expounded: Eternal Mysteries Simplified.’
Individuals may not be able to control their bank funds, but they can control their futures in the next World War. Remember, only those who are ‘in Christ Jesus’ are assured of everlasting safety in that coming War:
“ . . . the Lion of the tribe of Juda, the Root of David, hath prevailed to open the book, and to loose the seven seals thereof. . . .Worthy is the Lamb that was slain to receive power, and riches, and wisdom, and strength, and honour, and glory, and blessing (Revelation 5: 5,12).” When those seals are opened, judgment will fall upon earth, such as has never seen before!
I often blog about bad times in Europe: suicides, families tumbling into poverty, mothers abandoning babies and millions of angry protesters. Other scholars agree––Europe slides into depression and Germany still pushes austerity!
Closely following Europe’s fall into the economic abyss is urgent for those who realize that it was economic depression that led to Hitler and World War II. Elder Nazis in Europe who served Hitler now train neo-Nazis to recruit unemployed youth who will join the coming wars to avoid hard economic times.
While most economists only say Europe may be headed into recession, in ‘Wake Up! 11 Facts That Show That Europe Is Heading Into An Economic Depression,’ economist Michael Snyder claims: “Europe is not just heading into another recession. . . . Europe is heading into a full-blown depression. . .
“In some nations in Europe, the unemployment rate is already significantly higher than anything the United States experienced during the Great Depression of the 1930s. Europe . . is collapsing under the weight of its own debt.”
Snyder, whose essay has been republished in scores of internet sites, lists extremely high unemployment rates as the major reason for Europe’s coming economic disaster. He also points to: 1) Two consecutive quarters of shrinking economies in 17 of the 27 European countries––especially Greece which will shrink over 12% by next year.; 2) The collapse of industrial production through the continent; 3) Moody’s downgrade of the France’s credit rating, as wealthy individuals leave that country to avoid rising taxes; 5) Even in Germany, factory orders decline from month to month; 6) The overwhelming debt burden of Greece.
Snyder’s main point is the high unemployment rate throughout most European countries. The average overall unemployment rate throughout all of Europe is 11.7 percent is high enough. But it is considerably higher in individual countries: 25.4 percent in Greece, and 26.2 percent in Spain. Youth unemployment is 60 percent in the two countries, helping neo-Nazis recruitment.
Gerald Celente, of trendsresearch.com––which is lauded for accurately forecasting hundreds of social, business, consumer, environmental, economic, political, etc. trends––says Europe is already in depression: “If you live in Greece, you’re in a depression; if you live in Spain, you’re in a depression; if you live in Portugal or Ireland, you’re in a depression. If you live in Lithuania, you’re running to the bank to get your money out of the bank . . . It’s a depression. Hungary, there’s a depression, and much of Eastern Europe, Romania, Bulgaria.”
Dr. Jael Ever’s study of Germany in worldscollide-culture-Christianity-endoftime.com. coincides with Snyder’s predictions. She would add that Germany is pushing Europe––and the rest of the world––into World War III. As a verse in online Bible lessons relates: “Jonathan David’s uncle was a counsellor, a wise man, and a scribe (1 Chronicles 27: 32).” Scribe is the Bible term for scholar. Snyder, Celente, Ever and other scholars try to warn the world that war is coming.
Several factors have led to Europe’s seemingly intractable problems. Perhaps the greatest of which are part-time work for full-time pay, short work weeks, early age retirements, extended vacations, etc. And when such activities (or lack thereof) helped to lead to two world wars, there were always allies to help out.
In his article, “The European Farce: Will the Continent Act to Avert An Economic Cataclysm?,” Niall Ferguson points out that in the midst Europe’s economic breakdown: 1) France just elected a socialist who promised to lower the retirement age even more; 2) The Greeks voted to have another election; 3) London transportation is still late because workers don’t show up; 4) The average German now works 1,000 hours a year less than the average South Korean, etc.
Anyone who has worked with overseas companies is familiar with offices in Germany where a boss may have two secretaries who work every other day, each at full pay. And that person knows how difficult it is to fire any incompetent employee there, without paying out full salary unemployment benefits for years.
Such socialistic arrangements are difficult for Americans to understand as our economy is structured on more of a capitalistic system. And the Protestant Work ethic––i.e. work hard at least 40 hours a week with two weeks annual vacation and retirement at age 65––has been our basic employment structure.
And with that structure, we have built the greatest country on Earth, winning two World Wars, sustaining an industrial base within a two-party democratic system, educating our kids, and establishing a strong Middle Class.
But, no matter, Europe still suffers from a sense of imperialism––i.e. their ‘work’ system is the inherited privilege of ‘superiority.’ Of course the colonies work harder and longer. And, even if the United States is suppose to be an ex-colony, she will still serve when called upon.
Such thinking has already dragged us into two European World Wars. And it is why our national budget is overburdened with military spending, while Europe spends much, much less, while calling upon us to protect their assets with our massive war machine.
As Nobel prize winner Thomas Sargent points out, “. . . a collapse of the financial system in Europe will cause a massive global recession. Once the global economy slides into another major recession, it is going to take years to recover. The pain is going to be immense.”
World War II was started in the midst of economic depression. Only strong Christian messages, and true repentance can stop the next War. But sometimes the strongest prayers can’t delay judgment. As God told Jeremiah, “Though Moses and Samuel stood before me, yet my mind could not be toward this people (15: 1). Let us pray that it is not too late to stop the coming judgment of World War III.
OK. So (after Germany spent massive amounts of money on negative warnings about the consequences of leaving the euro) Greece voted to stay in the European Union (EU). And now the drama shifts to Spain, no Italy, no Ireland, no . . . But why should Americans care?
Well, Wall Street watchers insists that the more the euro keeps Europe in turmoil pushes investors’ money to the United States, where––although not perfect––the market is safer, and will at least bring decent returns.
Need another reason? OK. The G-20 Leaders––including Germany––promise to emphasize growth and job creation instead of austerity. In a leaked draft communique, these leaders promise to: “act together to strengthen recovery and address financial market tensions . . . All G20 members will take the necessary actions to strengthen global growth and restore confidence.” But ‘draft’! OK?
Let’s see, for reason three: Even Germany’s dw.de site admits that all sorts of nations are insisting that Germany and the rest of the EU get their act together. The BRICS––Brazil, Russia, India, China and South Africa––and other emerging nations at the G20 Conference even pressed Germany to solve the euro crisis before it spreads. (Note that word: “spreads.”)
For instance, Yonhap News Agency reported that “Chinese Deputy Finance Minister Zhu Guangyao said the summit was important for limiting the risk of the crisis spreading. South Korean President Lee Myung-bak called for a radical overhaul of the eurozone’s financial system.”
Ah, but Jose Manuel Barroso, President of the European Commission, retorted that EU members would not be “lectured to by other G20 nations.” Yonhap and dw.de quotes Barroso as saying: “Frankly, we are not coming here to receive lessons in terms of democracy or in terms of how to run our economy.”
OK OK back to good reasons. Well Christine Lagarde, Managing Director of the International Monetary Fund that G20 members “had promised a total of $456 billion (361 billion euros) for its new crisis fund. The amount is $26 billion more than a target that was set in April.” Hm. Why give more than is needed?
“Countries large and small have rallied to our call for action, and more may join. I salute them and their commitment to multilateralism.” Lagarde said. These added donations doubled IMF’s lending capacity. Hm. Someone must see needs!
Ahhh. There’s more ‘good news,’ but I’ve run out of space. One last thing: Americans should care because Germany’s moves to control European finances is part of its economic attack on Europe and the world. These veiled economic war moves lead to World War III. Like Christian word puzzles, one must read and understand God’s Word––i.e. “rightly dividing The Word of Truth (2 Timothy 2: 15)” to solve Germany’s open riddle! Isn’t that good news??
I’ve been saying it and saying it. But is anyone listening??? Europe is at war, and Germany––the same nation that started World Wars I and II––started it again, and this time it looks like Hitler’s team is winning without firing a shot!
When they joined the European Union (EU), ‘chosen’ nations believed a joint economic system would bring assured growth. Some U.S. economists feared that the strong euro currency would soon eclipse the United States.
But other economists correctly asserted that EU’s loose economic system would never work without a unified centralized banking system, a monetary enforcer (i.e. Federal Reserve Board), an enforceable tax plan for every nation, etc.
Now too many European nations realize that those doomsayers were right–– most of them are deeply in debt to Germany! How did this happen? Because Germany always had the stronger economy, because part of the EU agreement included nations going into debt to buy products from Germany (which many didn’t need), because those nations made the mistake of trusting Germany again!
And now Hitler’s team tightens the screws. In “Europe Mulls Major Step Towards “Fiscal Union,” Reuters reports this morning: “German Chancellor Angela Merkel is pressing for much more ambitious measures, including a central authority to manage euro area finances, and major new powers for the European Commission, European Parliament and European Court of Justice.”
Further, German officials say that Merkel is “also seeking a coordinated European approach to reforming labor markets, social security systems and tax policies.” Until nations agree to her new proposal, she will not consider other proposed alternatives such as euro zone bonds, or a ‘banking union.’
In short, if EU nations agree to this ‘bullying,’ they lose their sovereignty. And Germany will have completely won this continent’s economic war!
The intensity of this type of war is well illustrated in Clive Owen’s film, “The International.” Owen plays an Interpol detective named Louis Salinger, who chases bankers, who are not only crooks, but murderers as well, all over Europe.
When he, and New York police detective Eleanor Whitman (played by Naomi Watts), interview Industrialist Umberto Calvini (played by Luca Barbareschi), the two ask Calvini why these bankers are funding arms for so many wars around the world. Calvini answers, “Its not about guns. It’s about debt. Whoever controls the debt controls the country!”
So the debt of European countries trusting Hitler’s Germany again has plunged them into the nightmare of all being German! As Bible prophecies warn: “But it is happened unto them according to the true proverb, The dog is turned to his own vomit again; and the sow that was washed to her wallowing in the mire (2 Peter 2: 22).” As our sister blog writes, the jackboots will soon march again!
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