Breaking News May 31, 2011

ECONOMIC NEWS

From www.coveringdelta.wordpress.com

• ACCUSATIONS OF TREASON IN THE GREEK PARLIAMENT

Recently, in an interview on Greek television, Member of Parliament for New Democracy, Mr. Panos Kammenos, made allegations that if true, could very well constitute treason for the Greek Prime Minister, members of his staff and possibly members of his own family. Implicit in these most recent and quite damming accusations therefore, is that the Prime Minister not only arranged for, facilitated and possibly forced the sale of a national asset (the 1.3 billion in CDS that would turn into 27 billion – a roughly 2,700% gain – if the type of partial default priced in by markets were, in fact, to occur) to a private firm that he or members of his family had a personal stake in, but that he also did so during a period where he knew that the value of this asset would rise substantially. In fact, his own words and actions had the potential to positively affect the outcome. Read more

From www.SGTREPORT.COM

• WHEN FAITH IN THE DOLLAR AND U.S. DEBT DIES IT’S GAME OVER – THAT DAY IS CLOSER THAN YOU MAY THINK

A day is coming when the rest of the world will decide that it no longer has faith in U.S. dollars or in U.S. debt. When that day arrives, the game will be over.

Traditionally, two of the biggest things that the U.S. economy has had going for it were the U.S. dollar and U.S. Treasuries. The U.S. dollar has been the default reserve currency of the world for decades. All over the globe it was seen as a strong, stable currency that was desirable for international trade. U.S. government debt has long been considered the “safest debt” in the entire world. Whenever there was a major crisis, investors would flock to U.S. Treasuries because they were considered a rock. Sadly, all of this is now changing. Today the rest of the world is losing faith in the U.S. financial system. In fact, even the United Nations is now warning of the collapse of the dollar…Read more

Many have speculated going back several years that the fulfillment of end of the world prophecies would begin with a collapse of the US dollar; this will be a more earth shaking event than a 9.5 magnitude earthquake. The demise of the dollar becomes more and more imminent with each passing day. When the day arrives that China begins to openly dump the dollar, the world as we know it will end overnight. China is now doing it covertly but still openly enough that it is being noticed by other nations that have begun to do the same.

Breaking News May 29, 2011

ECONOMIC NEWS

From www.MoneyNews.com

• BOND EXPERT GUNDLACH: HOUSING COLLAPSE TO SPARK SECOND FINANCIAL MELTDOWN

“The housing market is dropping . . . and about to go to a new low," he tells CNBC. "I think we're looking at some type of echo in the credit crisis coming up here. That's what I'm afraid of." “There is very little, if any, good news about housing,” David Blitzer, chairman of the Case-Shiller index committee at S&P, said in a statement accompanying the latest report. “The 20-city composite is within a hair’s breadth of a double-dip.” Read more: Bond Expert Gundlach: Housing Collapse to Spark Second Financial Meltdown

 

Any Economy that has to depend on a residential housing market for its health is doomed. People can only buy houses when they have jobs; so without first creating jobs that pay a decent wage, building houses is like putting the cart before the horse. And since most of the good manufacturing have been shipped overseas, and continue to be shipped overseas, there will neither be a housing market recovery nor an Economic recovery; it’s all a mirage!

DEVELOPING FAMINES AND FOOD SHORTAGES

From Guardian UK: http://www.guardian.co.uk/

•  UN WARNS OF FOOD RIOTS IN DEVELOPING WORLD AS DROUGHT PUSHES UP PRICES

European dry spell and commodities speculation combine to push up average cereal costs by 71% to record levels. Food prices are expected to hit new highs in the coming weeks, tightening the squeeze on UK households and potentially triggering further unrest in developing countries unless there is heavy rainfall across drought-affected Europe, the United Nations has warned. With the dry spell forecast to continue for several weeks across Europe, Abdolreza Abbassian, senior grains economist at the FAO, said: "Europe is entering a very critical month. We can't do without rain any more. If the current situation continues prices will respond very aggressively."

Economic Collapse & Other News May 27, 2011

In the News this week:

ECONOMY: Eurozone in crisis mode, UN is predicting a collapse of  the US Dollar

WORLD WARS: Netanyahu addresses Congress, Palestinians call it a declaration of war; US drone attacks continue on Pakistan, unrest continues all over Middle East

EXTREME WEATHER: Drought in China, Tornadoes and more extreme weather in the US, Fukushima disaster is worse than Chernobyl, a fact not being admitted by the MSM

Breaking News May 27, 2011

Economic News

From GLOBAL NEWS: http://www.globalnews.ca/

• U.S. dollar could 'collapse': UN

UNITED NATIONS – The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline. In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system. Read it on Global News: U.S. dollar could 'collapse': UN

 

From Website: www.SHTFplan.com

Author: Mac Slavo Date: May 26th, 2011

• Pinks Slips Coming For 450,000 State and Local Government Employees in 2012

Around 450,000 people who work for U.S. states, counties, cities, towns and villages could get pink slips in fiscal 2012, sharply up from the 300,000 positions shed this year, a report said on Monday. 

How’s that for a jobless recovery? Less and less jobs all the time, so how can there be a recovery?

From Voice of Russia: http://english.ruvr.ru/

• Greeks to choose between euro and drachma

Athens is ready to stop using the euro and go back to the drachma. This was announced by European Commissioner for Greece Maria Damanaki. An official message placed on her web site on the 25th of May reads that “the scenario of Greece being distanced from the euro is now on the table”.

Announcer: There is every reason for Brussels to be seriously alarmed on hearing such declarations. Greece’s departure from the euro zone would not only hit the euro and the economies of the countries for which it is the national currency but also seriously damage the EU’s political reputation.

Alarm bells are going off all around the world as Greece contemplates a default. Will Greece be declared a ‘terrorist’ state and invaded by NATO, how about Portugal, Spain, Italy??? Every debt that is owed anywhere in the world to institutions should be defaulted upon; the sun will still rise and the world will go on. And all politicians and bankers should be put on trial for treason. Since there is no chance of this happening, look for a descent into anarchy all around the world in the not too distant future. What does Anarchy look like? The following video report from Russia Today is a very mild version of the real thing when it arrives. I believe we will see much more violent and bloody versions of these Spanish / Greek protests in the US and possibly in the UK, France and Italy.

Breaking News May 26, 2011

THE ECONOMY: Why IMF chief Dominique Strauss-Kahn was truly arrested?

Arrest of Strauss-Kahn Marks Crucial Shift

May 24, 2011 (EIRNS)—The arrest of IMF chief Dominique Strauss-Kahn in New York on May 15 has brought the entire global financial bailout to a halt. The "clean job" that was pulled on Strauss-Kahn had been in preparation for some time, to the purpose of achieving exactly those effects it did achieve. "What the outcome of those effects will be, is uncertain, but the effects ... cannot be avoided," Lyndon LaRouche commented in a discussion with associates on May 21.

"The entire system is now going to crash in one of two ways. Either, by some unlikely prospect, the backers of Obama, Geithner, and Bernanke will survive this, in which case all Hell busts loose, or they won't survive it, and the situation becomes much more interesting. And what happened to Strauss-Kahn, is an absolutely crucial part of this turning point which has been reached in the past two weeks." Read more

U.S. dollar could 'collapse': UN

UNITED NATIONS – The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline.

In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system. Read it on Global News: U.S. dollar could 'collapse': UN

 

Fringe ‘conspiracy theory’ stuff such as the collapse of the dollar is no longer fringe or conspiracy. It would appear that there is some infighting or a lot of infighting at the highest levels of global financiers. It appears that this infighting is going to hasten the collapse of the global economy. They could barely keep the global economy together when they were working in concert; it will be impossible to do so if they are at each other’s throats. There’s no honor among thieves, and these thieves are of a variety that give ordinary thieves a bad name. So infighting amongst themselves as evidenced by the IMF chief’s arrest in NY is not at all surprising. This will be a very eventful summer – stay tuned!

THE DESTRUCTION OF PLANET EARTH – THE WARS OF WOLRD WAR 3

Although this is a video game, there is much subliminal messaging that goes into video games. I believe extreme weather events will greatly weaken formerly formidable military powers such as The US and UK, and they will be conquered militarily; the only question is how close are we to this time?

EXTREME WEATHER

• Geologists fear aftershocks in Japan may trigger other faults to erupt

May 26, 2011 – TOKYO  - Japan’s recent magnitude 9.0 earthquake, which triggered a devastating tsunami, relieved stress along part of the quake fault but also has contributed to the build-up of stress in other areas, putting some of the country at risk for up to years of sizeable aftershocks and perhaps new main shocks, scientists say.  Read more

• Wiped off the map: Shocking before and after images reveal how giant tornado ripped apart Joplin's city landmarks

 

As shell-shocked residents of tornado-hit Joplin braced themselves for another powerful storm system this evening, new aerial images emerged showing in terrifying detail the path of the twister which destroyed the Missouri city.

The shocking photos reveal for the first time the true extent of the damage caused when the mile-wide tornado that killed at least 122 people blasted much of the city off the map and slammed straight into its hospital. Read more 

The above story has some amazing photos that show the utter devastation of this Missouri town. How long before we see devastation of much bigger cities and towns as shown in movies such as Day After Tomorrow and 2012?

View of Joplin street before the tornado

 View of same street afterwards: This scene reminds me of Hiroshima at the end of WWII

 

WARS, FAMINES, PANDEMICS, and EARTHQUAKES are the four riders of the Apocalypse that will claim hundreds of millions of lives in less than a decade. I believe the decade of 2010’s is this decade, and no part of the globe will be spared. When these four horsemen are riding in every corner of the earth, we can be sure that the end of this present world has begun. There is nothing anyone can do to stop it but by believing in Him who alone has determined this end a long time ago, we can be secure in the knowledge that our souls will be saved, and possibly our bodies as well. His Name is Jesus Christ.

Matthew 24:7 For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places. 8 All these are the beginning of sorrows.

Breaking News May 25, 2011

THE ECONOMY: Eurozone problems escalating

UK Telegraph - What happens when Greece defaults / It is when, not if. Financial markets merely aren’t sure whether it’ll be tomorrow, a month’s time, a year’s time, or two years’ time (it won’t be longer than that). Given that the ECB has played the “final card” it employed to force a bailout upon the Irish – threatening to bankrupt the country’s banking sector – presumably we will now see either another Greek bailout or default within days.

What happens when Greece defaults. Here are a few things:

• Every bank in Greece will instantly go insolvent.
• The Greek government will nationalise every bank in Greece.
• The Greek government will forbid withdrawals from Greek banks.
• To prevent Greek depositors from rioting on the streets, Argentina-2002-style (when the Argentinian president had to flee by helicopter from the roof of the presidential palace to evade a mob of such depositors), the Greek government will declare a curfew, perhaps even general martial law.  

Read more

 

Greece is the trailer of the movie that will be played in full length and in high definition color all around the world. The ultimate screen on which it will be played will be the USA; the only question is when and how quickly will anarchy spread around the world? As reasoned over the years the seminal event to bring about this worldwide societal breakdown will be the collapse of the US dollar with many variables thrown in for good measure such as a mag. 9.5+ earthquake in a heavily populated developed country (bigger version of what happened in Japan), a major war, possibly nuclear, one or more major terrorist strikes, possibly nuclear or biological, a major pandemic outbreak, famines in poor but heavily populated countries such as India and China leading to mass uprisings. The world is a tinderbox waiting to be lit and the fuses are short and numerous, we will probably not get through 2011 without the world being turned upside down, economically, politically, societally, and climatically. Those who cannot see the signs all around blazing in glowing neon have truly been blinded by the glitter of this world, which exists only in fantasy not in reality. Disneyworld is about to be blown apart by the real world and the shock alone will prove fatal to untold numbers of presently slumbering citizens of this world.

Welcome to the real world! Take the red pill now before it’s too late!!!

Breaking News May 24, 2011

ECONOMY: Summer of unrest / revolutions / civil wars: As austerity is imposed by traitorous governments on their own citizens, watch for formerly prosperous and stable nations, such as Spain and Italy and many many others descend into anarchy. The game will be over when this anarchy spread to the US, which it will as soon as the dollar collapses.

 THE REVOLUTION HAS STARTED - SPAIN

 

The Eurozone is getting ready to expolde as Spain and Italy follow Ireland, Greece and Portugal into death by debt. However citizens are beginning to fight back but that may prove to be a suicidal move as the powers that be have taken steps already to crush any rebellions or let a state of anarchy prevail for a season in which the masses do their dirty work for them and kill each other by the millions. This is a fulfillment of Revelation 6:4 as peace is taken from the earth, people turn upon each other and kill each other without understanding the real cause of their problems, which are their political, financial and religious leaders who will all safely hide behind walls of their paid mercenaries, otherwise known as police forces.

Breaking News May 23, 2011

Joplin, Missouri Tornado on Sunday, May 22 - dozens dead 

US debt default likely

U.S. Rep. Barney Frank (D-Newton) says America might have to default on its bills for the first time ever because Democrats and Republicans can’t agree to raise the government’s $14.3 trillion debt ceiling.

“I’m pessimistic about anything reasonable (winning congressional approval) in the near term,” Frank, the ranking Democrat on the House Financial Services Committee, told the New England Council in a Boston speech today. “It may be that we’re going to have to see some failure to raise the debt limit and some temporary hiatus in our ability to pay our bills (for lawmakers to act).”

The U.S. government officially hit its congressionally mandated debt ceiling on Monday when the nation’s red ink reached $14.3 trillion. Read More

The hunger to come in Egypt By Spengler

Egypt is running out of food, and, more gradually, running out of money with which to buy it. The most populous country in the Arab world shows all the symptoms of national bankruptcy - the kind that produced hyperinflation in several Latin American countries during the 1970s and 1980s - with a deadly difference: Egypt imports half its wheat, and the collapse of its external credit means starvation. Read More

Breaking News May 22, 2011

 Death toll rises in Malaysia landslide

Economic Collapse & Other News May 21, 2011

IN THE NEWS THIS WEEK:

• ECONOMY: IMF Chief arrested – what’s the real story?
• WORLD WARS: Israel, Pakistan, Libya, Syria, the list grows
• EXTREME WEATHER: Scientists call for new climate ‘Normal’; Fiji tsunami, Turkey quake, dead sharks, more
• EXPLODING TRANSFORMERS: Everyday some new and strange phenomenon is being experienced in the world
• JUDGMENT DAY: May 21?

 IN RELATED NEWS:

Judgment Day on May 21? Setting dates for the end of the world

Setting dates for ‘The End of the World’ has become something of an international pastime since before Y2K. With 2012 fast approaching, and a doomsday cult in the US and Canada predicting Judgment Day on May 21^stof this year, I thought I would throw my hat into the ring and set some dates of my own. Mind you, I do this not by pulling numbers out of a hat but by a careful study of the prophetic portions of scripture, which provide us with a great deal of information, both on the events that will transpire as the world ends and the approximate amount of time that must pass from beginning to end. So rather than debate the claims of such false prophets, wolves in sheep’s clothing such as this May 21^st Judgment Day cult, I thought it might be more expedient to calculate the length of time that must pass before the end of the world and the return of Jesus Christ, His Second Coming.

From the prophetic portions of the Gospels, particularly Matthew 24, and from the book of Revelation, it is possible to calculate a timeline of events that are prophesied to transpire before the end comes. And from this timeline, it is possible to calculate a minimum amount of time from the beginning of the end to the final close of this age, which is the age of flesh and blood man on Earth. The Bible tells us that ‘flesh and blood cannot inherit the Kingdom of God’ (1 Corinthians 15:50), and since the King of kings, and Lord of lords, the Lord Jesus Christ is returning to set up His eternal Kingdom on Earth, this Kingdom will not belong to flesh and blood man but to the New creature in Christ. 

The Coming Great Inflation

The Coming Great Inflation

"The table displayed immediately below is likely to surprise even our most-jaded readers. It shows the astronomical increase in cash prices for well-known food commodities over the past 12 months. With inarguable exactness, it contradicts the nearly constant prattle in the mainstream press that inflation is under control, or that it is peaking and likely to come under control sometime soon. Some items on the list have doubled -- even tripled -- in price over the past year. Others have risen at mere double-digit rates. These numbers signal a potentially serious inflation shock for the American consumer down the road as wholesale food inflation feeds through to consumer prices. It should be noted too that these are the rates of increase AFTER the highly publicized corrections during the first two weeks of May" READ MORE

The Lies of Fukushima being exposed one by one

FUKUSHIMA SPEWING UNTOLD QUANTITY OF RADIATION: One by one the lies are being exposed as it is not possible to keep them under wraps forever. As Prof. Busby concludes in this Russia Today TV report there really is nothing much that TEPCO can do to contain this problem. He also concludes as we surmised on March 12th that this is a Global problem and the solution should have been sought by all countries with Nuclear expertise, particularly The US and Russia. Since the international community has washed its hands of this catastrophe, it would be fair to surmise that Japan has been sacrificed on the altar of depopulation; there is no other logical explanation as to why these reactors were not entombed immediately or some other solution sought right away rather than allowing them to spew deadly highly toxic radiation across the planet for months and possibly years. Those post apocalyptic movies no longer seem to be fiction.

 Bye Bye world!!!, and so begins the end!

Told you so - The Economy: it is a sinking like the Titanic...

World on course for next crisis, warns Gordon Brown /The global economy is heading towards another meltdown despite the lessons of the last financial crisis, Gordon Brown has warned.

 For the past 3 years since this blog came to life, I have written many an article, and posted many a video on the coming Global Economic and financial Collapse. The reason this collapse has to be Global, has to worldwide, is because every nation is now inextricably connected to the current financial system which has taken shape since World War II. This fact was recently confirmed by insider elite, and former PM of Great Britain, Gordon Brown who is warning that the 2008 financial crisis was only a preview, a trailer to the full length movie of the real worldwide Economic collapse that is yet to transpire. Here's what PM Brown had to say: "The former prime minister said that unless leaders take more action, the recent credit crunch could prove just the "trailer" to a string of crises."In 2008, when we were hours away from ATMs running out of money, small businesses being unable to pay their staffs, and schools and hospitals closing down through lack of cash flow, it felt as if the crisis of the century was upon us," he wrote in US magazine Newsweek. "But if the world continues on its current path, the historians of the future will say that the great financial collapse of three years ago was simply the trailer for a succession of avoidable crises that eroded popular consent for globalisation itself."

 And the following quote from the same UK Telegraph article is by another inside financial analyst:

"They fear "with good cause" that if Greece has to restructure its debt - effectively default - it could unravel a chain of trades based on the problematic debt and lay bare the interconnectedness of institutions around the world, said Stephen Lewis, an analyst at Monument Securities."