Tuesday, July 12, 2016

Europe is Extremely Sick

The financial balance sheets don't look good in Europe.  Giving out free money usually only lasts for so long.  Just imagine how bad their finances would look if they hadn't been under the umbrella of the US Military for the past 70 years?

Brussels urgently needs a €150 billion bailout to begin a major recapitalization program for its banks, according to Deutsche Bank’s David Folkerts-Landau.

In the aftermath of UK’s Brexit vote, the focus of attention has switched to Italy’s banking sector, which has accumulated €360 billion in bad loans, and growing.
A former member of the ECB executive board Lorenzo Bini Smaghi, and now chairman at Societe Generale, has warned the banking crisis in Italy could spread to the entire EU.
“Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident. I’m no doomsday prophet, I am a realist,” he said in an interview to Welt am Sonntag.
According to Folkerts-Landau, Brussels should follow Washington’s steps that helped US banks with a $475 billion bailout.
"In Europe, the bailout does not need to be so large. A €150 billion program should be enough to help European banks recapitalize,” he said.
The decline in bank stocks is only the symptom of a much larger problem, which is low growth, high debt and dangerous deflation, Folkerts-Landau added.
Over the last 12 months, Deutsche Bank shares have plummeted 48 percent. Another major European bank, Credit Suisse is down 63 percent since July 31 last year. All in all, the Bloomberg Europe 500 Banks and Financial Services Index has nosedived 33 percent in 2015 to the lowest level in more than seven years as of last Thursday.
The nations are in distress....or at least they soon will be.  
The Bible tells us that the world will be pretty clueless just going out about their everyday business when the Lord comes for his bride.  Once those millions of people vanish, prophetic events will start to snowball pretty fast.  Many believe that America will not survive the rapture.  Just imagine the unwinding of trillions of dollars that the world has invested in the US Reserve Currency.  They will quickly need to find another currency the day the dollar dies.
Enter the Antichrist.  He will have some good ideas for a new global financial system.  We are quite certain he will have some explanation for where the Bible-believers went (aliens are the best guess) and he will be popular enough to pull the world together and get them on a track for a one world government and a one world financial system linked with a one world religion!
Sounds like Utopia!  
In reality, if you read the Bible....most people who are around to see that Utopia end up dying.
Europe's Union will pass away....maybe a lot sooner than anyone has a clue about.


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