Just Wave the Magic Wand

How will the USA and all the major nations of the world get rid of the $trillions of debt they have all racked up by borrowing from each other?

Simple...just wave the magic wand that the IMF has!

One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.

The conjuring trick is to replace our system of private bank-created money -- roughly 97pc of the money supply -- with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.

Specifically, it means an assault on "fractional reserve banking". If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.

The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. Accounting legerdemain will do the rest. That at least is the argument.

Some readers may already have seen the IMF study, by Jaromir Benes and Michael Kumhof, which came out in August and has begun to acquire a cult following around the world.

"If you enacted this plan, it would devastate bank profits and cause a massive deflationary disaster. There would have to do `QE squared' to offset it," he said.

The result would be a huge shift in bank balance sheets from private lending to government securities. This happened during World War Two, but that was the anomalous cost of defeating Fascism.

To do this on a permanent basis in peace-time would be to change in the nature of western capitalism. "People wouldn't be able to get money from banks. There would be huge damage to the efficiency of the economy," he said.

Here;  http://www.telegraph.co.uk/finance/comment/9623863/IMFs-epic-plan-to-conjure-away-debt-and-dethrone-bankers.html

I'm not even going to attempt to explain this using 'layman' terms, but suffice it to say that many of the financial elites around the world are realizing that their Ponzi Scheme of creating money out of thin air by loaning IOU's to each other...is coming to an end.

And it could be an ABRUPT end.

So naturally they are going to try and float some other scheme.

Of course we all must be aware that the world is moving to a single currency run by some type of Global Central Bank.  It simply has to. It will be claimed that this is just the 'natural order of things' that need to happen to run a global economy.

Of course those of us who read the Bible understand that we are running towards a ONE WORLD CURRENCY...and one day ANYONE LEFT ON PLANET EARTH will need to take some type of mark on his forehead or arm in order to access the system.

If you want to buy or sell anything....you will need, what the Bible calls, the MARK OF THE BEAST.

The intensely troubling side of this mark is that ANYONE who take it will forever lose their chance to see the Father.

Jesus...could you please come soon?  Amen.