Empty the Piggy Bank

Greece then Ireland, Portugal then Spain? How many countries in the Eurozone will need a bail out? Can the Eurozone start massive money printing (quantitative easing) like the USA has to "pay" for all these bailouts? As of now it sounds like the Eurozone has a "piggy bank" with some actual saved money in it to bail out some of the tinier countries....but if Spain goes....the piggy bank may get totally shattered. Then what?

Portugal has been told to apply for a rescue from the EU bail-out fund lest Spain be sucked into the vortex, according to reports in German media.

The European Central Bank and a majority of member states in the eurozone are laying heavy pressure on the narrow Iberian nation to be the third country to tap the European Financial Stability Facility, according to a report based on unnamed sources in the Financial Times Deutschland.

European leaders and a number of analysts fear that should Portugal default, Spain too would be dragged down. While the debts of Greece, Ireland and Portugal are thought to so far be manageable, Spain would empty the eurozone's emergency piggy bank.

See it here; http://euobserver.com/9/31362

So....if the USA has no REAL money and is printing it for our daily bills....and the Eurozone ends up with a broken piggy bank and has no real money left to pay its daily bills....what will the outcome be?

It sure seems possible the entire Western world may soon need a bailout from the lender of last resort...THE INTERNATIONAL MONETARY FUND.

Wow! That sure sounds like it could be the start of a one-world-currency...doesn't it?

Turkish Relations Deteriorate

As the article says, Turkey was recently one of Israel's only friends in the Muslim world, but that now seems to have come to a very quick end. So much so that Turkey has recently issued language that sounds an awful lot like serious war talk.

Turkish Prime Minister Recep Tayyip Erdogan said Thursday that Turkey would not remain silent if Israel attacked Lebanon or Gaza, French News Agency AFP reported.

"Does (Israel) think it can enter Lebanon with the most modern aircraft and tanks to kill women and children, and destroy schools and hospitals, and then expect us to remain silent?" Erdogan said at a conference in Lebanon organized by the Union of Arab Banks.

"Does it think it can use the most modern weapons, phosphorus munitions and cluster bombs to kill children in Gaza and then expect us to remain silent?," AFP reported Erdogan as saying. "We will not be silent and we will support justice by all means available to us."

Now pay even closer attention to this next paragraph;

Erdogan called on the five permanent members of the United Nations Security Council to pressure Israel over its nuclear program in the same way that the international community has been dealing with Iran.

See it here: http://www.haaretz.com/news/diplomacy-defense/erdogan-turkey-will-not-remain-silent-if-israel-attacks-lebanon-1.326844

It seems that some Satanic blindness may be coming over Turkey and it's leaders. Do the Israeli's make TV shows about the glory of killing Arabs? No...but the Palestinians make those shows about Jews. Did Israel attack Arab nations in quest of acquiring more land? No....but the Arabs have done exactly that in an attempt to wipe Israel off the map. Has Israel ever announced it's nuclear intentions and then gone on to threaten others with annihilation? No....but Iran seems to doing that on a daily basis and now Turkey wants the world to treat Israel "in the same way" that it is treating Iran.

This makes no logical sense....so, as we have said in the past, there must be some supernatural force acting on the situation.

Of course we all know that Turkey will play a major role is the Last Days scenario by being part of a coalition consisting of Russia, Iran and other Muslim nations. And we can know this by reading Ezekiel 38.

So should this news coming out of Turkey surprise us? No. But it should encourage and motivate us to realize that we are drawing VERY close to the end of the age. What age? The Age of Grace.

Warning Shot

Remember last week's news about a potential missile contrail that no one could explain happening over California? Some people came forward and said it was simply jet-exhaust. No one really bought that...I think we have all seen plenty of passenger jets fly over and all know what the exhaust looks like.

Today some pretty scary/interesting news is bubbling out on what this may have been...

Experts: Mystery contrail was from Chinese missile

Two governmental military experts with extensive experience working with missiles and computer security systems have examined the television video and conclude the mysterious contrail originating some 30 miles off the coast near Los Angeles did not come from a jet – but rather, they say the exhaust and the billowing plume emanated from a single source nozzle of a missile, probably made in China.

They further suggest the missile was fired from a submerged Chinese nuclear submarine off America's coast, and point out that the timing of the alleged Chinese missile shot coincided with an increasing confrontation between the U.S. and China, and was likely meant to send a message to Washington.

Even more ominously, cautioned Cash: "We must question the timing of this shot across our bow. The president was abroad being diplomatic, which means trying to placate China which is becoming overly concerned with our handling a totally out-of-control deficit in spending."

See it here; http://www.wnd.com/index.php?fa=PAGE.printable&pageId=230425

Wow! As we have talked about in the past....we owe China about $1 trillion dollars. And that's not chump-change for a country where most folks work for $1 per hour. Why would they allow us to print off $1 trillion more of paper money and pay them back with worthless paper backed by nothing?

Also, they want Taiwan back and we have our military positioned all over and around Taiwan. So how does that work that China loans us $1 trillion and we use the money to run our military so we can threaten China? I'm sure that thought has crossed the Chinese leaders minds.

If this is true and China did launch a missile off the coast of California to send a message to Washington....then the world REALLY may be getting ready to spiral out of control.

"There will be wars......"

North Shells South

The leader of North Korea (aka Gopher in a pantsuit) seems to rattling his sabre again. Of course he wants the world to pay attention to him. So he shelled an island in South Korea.

(Reuters) - North Korea fired scores of artillery shells at a South Korean island on Tuesday, killing two soldiers, in one of the heaviest attacks on its neighbor since the Korean War ended in 1953.

The barrage -- the South fired back and sent a fighter jet to the area -- was close to a disputed maritime border on the west of the divided peninsula and the scene of deadly clashes in the past. South Korea was conducting military drills in the area at the time but said it had not been firing at the North.

See it here; http://www.reuters.com/article/idUSTRE6AM0YS20101123

Of course there will be "wars and rumors of wars"....so all this commotion should NOT surprise us. This is simply more evidence that the perfect storm continues to brew.

Horrible Truth

As we continue to watch the bail out news coming from Greece and now Ireland...the "horrible truth" is maybe starting to dawn on the European Union.

The entire European Project is now at risk of disintegration, with strategic and economic consequences that are very hard to predict.

In a speech this morning, EU President Herman Van Rompuy (poet, and writer of Japanese and Latin verse) warned that if Europe’s leaders mishandle the current crisis and allow the eurozone to break up, they will destroy the European Union itself.

“We’re in a survival crisis. We all have to work together in order to survive with the euro zone, because if we don’t survive with the euro zone we will not survive with the European Union,” he said.

See it here; http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100008667/the-horrible-truth-starts-to-dawn-on-europes-leaders/

Of course we know a day is coming (maybe sooner than later) that the world will have one currency and one government. So it would only be logical to understand that the existing unions and currencies will need to be torn down first.

Interesting times.

Past the Point of No Return?

Recently we made the comment in adult ed that we weren't all that excited about the Tea Party/Republican victories in the House and Senate. We believe it may be too little too late. The tipping point may have been reached...and there is much evidence today surrounding Ireland and the Eurozone that the entire Western world may also have surpassed the point of no return.

Sobering times.

Today the world's #1 prophecy site, Rapture Ready, wrote comments in their weekly update. They seem to have arrived at the same conclusion.

The clock is rapidly running out on Bernanke's gamble. In 2006, the federal debt has increased by more than half. It now stands at $13.8 trillion and has morphed to 94 percent of GDP. With shortfall of $1.5 trillion projected for the next several years, the debt will quickly reach $20 trillion by 2015.

I have been following the financial markets all my adult life, and am at loss to describe how hopeless the odds are against us solving this crisis. If the mortgage mess and debt bubble don't get us, contagion from Europe ’s debt problems or the looming pension crisis will sink us.

Terry and I often talk about financial matters, and we believe this debt nightmare will unfold within the next couple of years. We can only guess where the Rapture fits in, but logic tells us it must be very near.

See it here; http://raptureready.com/rap16.html

Of course, if, as a nation we would, "humble ourselves and pray"...God could heal our land. That's a promise. But as you look around the landscape at your neighbors, friends and co-workers...what do you believe to be the likelihood of that event happening?

On the contrary, we seem to be even more caught up in trying to resurrect the god of Mammon. Hoping beyond hope that we can get back to the "glory" days of home equity gains, unlimited credit cards, stock market advances and government budget surpluses....so we can start consuming copious amounts of goods.

Meanwhile, our adversary prowls around like a hungry lion...waiting to devour.

So where is our hope? "Our hope is built on nothing less than Jesus' blood and righteousness."

Raise U.S. Debt Limit

Believe it or not, the USA has a credit limit...just like you do on your credit card. The major difference though is that your bank imposes the credit limit on you....and Congress is who imposes the credit limit on the USA....and since it is Congress who votes on how to spend the money...isn't that a glaring conflict of interest? (Shut up Dennis!! You are such a downer!)

Wait...what? How does that work?

Well...it works just like it sounds. Congress started off decades ago saying they could only borrow a billion....then when that ceiling was reached they voted to raise their borrowing limit to $2 billion...and when that was reached....$5 billion. This little charade of fiscal responsibility has been going on for some time.

Currently the limit is set at $14.3 trillion...but that limit is soon going to be reached.

So what ever will we do??

The government is authorized to borrow $14.3 trillion and is expected to hit that amount within a few months. If the limit is not raised, it could signal to the markets that the U.S. isn't prepared to meet its obligations and send tremors through the financial system.

See it here; http://online.wsj.com/article/SB10001424052748704264804575626850936997596.html?mod=googlenews_wsj

Also please notice that this little debate is going to test the new Republican leadership because some of the newly elected members ran on the promise to not keep raising the debt limit....thereby FORCING the USA to cut costs....which will prove to be impossible. (Hey...do you think it's a coincidence that the new blockbuster movie which just hit theatres is about a runaway train?)

So of course we will have to raise it and "borrow" more. Of course you and I know this is simply a printing press, Ponzi scheme going on...and Japan, China and Brazil aren't really going to loan us another $14 trillion.... so we will have no choice but to simply keep printing it to meet our "financial obligations."

We all know what is going to happen when the world and the welfare citizens of the USA finally realize we are playing with the very last foot of rope?....things will get REALLY strange REALLY fast.

Pray for the Lord to increase our faith so that we are prepared to potentially endure REALLY strange times.

Even so....Come Lord Jesus!