IMF Advisor: Could See Eurozone 'Meltdown' in 2 Or 3 Weeks

Prophecy Sign: The collapse of the world markets and the global economy

More bad news on the global economic front. Just read these articlse and watch the videos.

We continue to warn that the world is heading towards an economic collapse. This collapse will then set the stage for the future system of the Antichrist. We believe this future system will have much in common with state capitalism, (the system Chinauses), with a whole lot of socialistic tendencies. At first this new system will seem to prosper under the hand of the Antichrist, and will work alongside the false religious system in remaking the world in some sort of social gospel utopia. The world will then worship at the alter of this new false economic/religious new world order, and will accept the Antichrist, (who will seem to prosper at whatever he does), as God.

The king will do as he pleases. He will exalt and magnify himself above every god and will say unheard-of things against the God of gods. He will be successful until the time of wrath is completed, for what has been determined must take place. Daniel 11:36NIV

From the article:

"If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world.

This would be a crisis that would be in my view more serious than the crisis in 2008.... What we don't know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems."

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The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.

Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead. Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster. “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

IMF Advisor: Could See Eurozone 'Meltdown' in 2 Or 3 Weeks

http://www.businessinsider.com/imf-advisor-could-see-eurozone-meltdown-in-2-or-3-weeks-2011-10

World facing worst financial crisis in history, Bank of England Governor says

http://www.telegraph.co.uk/finance/financialcrisis/8812260/World-facing-worst-financial-crisis-in-history-Bank-of-England-Governor-says.html