Wallace Smith Reports About Possible Global Financial Collapse
220 kg Gold brick
At his Thoughts in Route site, LCG’s Wallace Smith reported the following:
Someone recently sent this to me: “Société Générale tells clients how to prepare for potential ‘global collapse’”
For those who do not think that “doomsday scenarios” are realistic, articles like this should cause them to think again. Global financial services companies like Société Générale, one of the oldest banks in France, do not waste time and money needlessly scaring their investors with information like this if they did not feel it was important to consider.
Habakkuk 2:6-8 describes the possible ultimate result of taking on too much national debt. And while Habakkuk 2 does not necessarily prophesy directly of the U.S. and the U.K. (it was written concerning Babylon and the Chaldeans, not Israel or Judah), Deuteronomy 28:43-51 does. For those who want details, our free booklet is a great place to start: The United States and Great Britain in Prophecy.
And here are a couple of comments reported about that Société Générale report:
In a report entitled “Worst-case debt scenario”, the bank’s asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.
Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of “deleveraging”, for years.
There will be chaos next decade and ups and downs (and for the USA more downs than ups) the next several years. The idea of a global collapse of the US dollar is becoming more and more recognized. And is probably the major reason that gold, an asset that does not pay interest, hit record highs last week (which also means that the price of gold may come way down for a while).
Of course, the possibility of gold confiscation by governments is a very real scenario as it has happened before. But make no mistake about it, the US dollar will ultimately collapse, but as my book 2012 and the Rise of the Secret Sect explains, according to the Bible it will not totally happen prior to 2012.
For more information on what lies ahead for the next decade based upon a biblical perspective, please check out the following:
2012 and the Rise of the Secret Sect This is a link related to a book by Bob Thiel (COGwriter). This also has YouTube videos related to 2012. The book is for those truly interested in understanding how prophecies inter-relate and who want to see a real sequence of end time events. It goes into details concerning prophecies that involve the rising up of a European power, including the King of the North/the Beast and the Antichrist that line up with biblical prophecies. It analyzes others that involve the USA, UK, Canada, Australia, New Zealand, Russia, and Asia.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Prophecies of Barack Obama? Eight reasons why Barack Obama is apocalyptic and eight reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests?
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”, based up an early 20th century writing.
Prophecies of Barack Obama in the eXaminer Since it became obvious that Barack Obama may become the President of the United States, many have claimed certain predictions and prophecies apply to him. Here are some.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe?
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