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Prophecy Sign: Revelation 13: 16 And he causeth all,
both small and great , rich and poor , free and bond, to receive a mark in their right hand ,
or in their foreheads: 17 And that no man might buy or sell , save he that had
the mark, or the name of the beast, or the number of his name. 18 Here is
wisdom. Let him that hath understanding count the number of the beast: for it is
the number of a man; and his number is Six hundred threescore and six.
So much is happening with the US financial system at the end of the year. What I did below is put the headline of an article with the link and a brief description of each one. They are not in any specific order. The magnitude of each one is alarming in its own right, but taken together it is financial Armageddon. This is why the world is dumping the dollar, not buying Treasury bonds, moving away from buying oil denominated in the dollar, and looking for an alternative world reserve currency. The US is about to become a Third World nation.
Tim
What is the Fiscal Cliff?
Here is a good article on the Fiscal Cliff. Basically, a combination of expiring tax law will automatically raise taxes an additional $600 billion dollars starting January 1, 2013. According to the article the Congressional Budget Office (CBO) estimates it will shrink Gross Domestic Product (GDP) by half of a percent.
The federal government is in $16 trillion dollars debt
Gross Domestic Product (GDP) of the US is around $15 trillion dollars so we are in more debt than all the money made in the US in a year (i.e. bankrupt).
The Fed's $16 Trillion Bailouts Under-reported
Did I just say the federal government is in debt for $16 trillion dollars? Well that figure does not include the ADDITIONAL $16 trillion dollars the Federal Reserve private bank as given out since the TARP bill was passed under Bush in 2008. So you can say the federal government is really in $32 trillion dollars debt, but that still doesn’t account for another $100 trillion in future liabilities.
QE3 Accelerates America's Economic Decline
QE (Quantitative Easing) is simply the Federal Reserve private bank authorizing the Treasury to print money, which is then handed to the Federal Reserve (because they are Federal Reserve Notes, not dollars) and then the Federal Reserve private bank buys bonds from the government. This is how they are currently funding the federal government. Any time you add money to an economy without an equal amount of goods (real money) it is called inflation. The official policy of QE3 is unlimited money printing, which means unlimited inflation. Inflation leads to higher prices and unlimited inflation means that the dollar will lose all value. Spend 10 minutes reading about post WW1 Germany, Weimar Republic, and you will quickly see what is about to happen to the US. In 1922 a gold Mark was worth less than 10 paper Marks. By the end of 1923 a gold Mark was worth $1,000,000,000 paper Marks (http://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic).
Now do you understand why I have said for the last 3 years to buy physical gold and silver?
Top Derivatives Expert Estimates Size of the Global Derivatives Market at $1,200 Trillion Dollars … 20 Times Larger than the Global Economy
There are many forms of derivatives and I do not pretend to understand them. Just realize there is a $1.2 quadrillion (I’ve heard as much as $1.6 quadrillion) house of cards. This is a hole that cannot be fixed, which is the reason the banks are too big to fail. One possible solution is a complete debt jubilee and a complete restart of the world system, but that would happen if you had good people actually wanting to fix the system. This is why it is important to understand who is behind this and what their agenda is. It is not to fix anything. This was a crisis meant to destabilize the world in order to usher in the New World Order with the antichrist in charge.
US Bank Run Imminent as FDIC Expanded Deposit Insurance Ends Dec 31st
According to this article in January 2013 the FDIC ends its unlimited insurance on bank accounts and will revert back to the $250,000 level. Any money you have in a bank account above $250,000 will then be at risk if the bank fails. The author says there is roughly $1.6 trillion dollars on deposit in banks. The owners will withdraw any money in their account over the $250,000 limit and invest it elsewhere since the protection is gone, causing a de facto bank run.
Durable Goods Drop 13% in Worst Plunge Since Recession
This is important because this shows a contraction of spending. Companies are being cautious on their purchases which stops the trickle-down effect.
Comcast closing California call centers, including in Sacramento
According to the article about 1,000 employees will lose their job.
Campbell Soup Shutting Down Sacramento Plant; 700 Jobs Being Cut
According to the article they will also be closing a plant in New Jersey.
RadioShack is now bankrupt
Radioshack has burned through $150 million of cash in the last three quarters. They have $355 million of debt due in the next twelve months. They had $500 million of cash left at the end of the last quarter. Their CEO quit today, 4 days before the end of this quarter. He was on the job for one year. I’m sure that bodes well for the next earnings report. Their stock has plummeted from $13 to $2 in the last twelve months. They operate 6,200 stores in the U.S. and employ 34,000 full time Americans.
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Author
It take many hours each day to do what I do for the Lord
but, I can tell you I am one of the happiest guys around because
I am doing what I love, pleasing Jesus.
Frank
your blog is really excellent. it inspires the readers who have that great desire to lead a better and happier life. thanks for sharing this information and hope to read more from you. lista de emails lista de emails lista de emails lista de emails lista de emails
Author
Thank for coming to my site. I have been doing this
for the past 36 years and won’t stop until my Lord
tells me this race He put me in is over. That being
said I am sure you will be reading a lot more of my
posts, God willing.
Frank DiMoa
Thanks again and looking forward for your post on making more.