Citi's Willem Buiter Says Europe Could Just Have Days Before A Financial Catastrophe

Prophecy Sign: The collapse of world markets - a coming new world order economic system


Europe only a matter of days away from default and a financial catastrophe? A contagion tightening its grip on Europe? The likely spreading of this contagion across the Atlanticto North American banks? Pretty scary news, don't you think?

When you understand bible prophecy, that these events must be, (although to happen on God's time-plan only), then we can understand that as Christians, we need not be terrified about what may happen. We only need to trust God that he will shepherd his flock, (the Church), through these coming traumatic times. It is our personal believe that the church, the Bride of Christ, will be taken away to meet the Groom, Jesus Christ, before things get really bad. However, there may be much that we will still have to endure, but God had promised to always be there for each and every person that knows his son, Jesus Christ.

Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more important than food, and the body more important than clothes? Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Matthew 6:25-26 NIV

From the articles:

This is a fantastic interview with Citi's Willem Buiter on Bloomberg TV.  You can hear the anger in his voice as he argues that Europe may have a matter of days before an unnecessary default and a financial catastrophe. The answer: the ECB must act fast, and ignore the Germans who don't get it. While some people don't think that the ECB can really monetize sovereign debt this way, Buiter believes there's absolutely nothing preventing the ECB from doing whatever it wants on the secondary market.

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Contagion’s grip tightened on European debt markets Wednesday, putting an end to the brief respite that followed last week’s political developments. Fresh petitions were issued by politicians and financiers, again urging Europe to intervene with appropriate force and urgency, lest a messy market event precipitate a systemic crisis. French borrowing rates have spiked at an alarming rate, joining Italy among the eurozone’s core powers for which the market registers the greatest concern. “The crisis is broadening,” said Marc Chandler, head of Canadian fixed income and currency research at RBC Capital Markets. “There’s a sense that something has to be done. Many people look to the European Central Bank, but they can’t do anything.”
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Fitch Ratings warned that it may reduce its “stable” rating outlook for U.S. banks with large capital markets businesses because of contagion from problems in troubled European markets. “Unless the euro zone debt crisis is resolved in a timely and orderly manner, the broad outlook for U.S. banks will darken,” Fitch said. “The risks of a negative shock are rising.”

 

Citi's Willem Buiter Says Europe Could Just Have Days Before A Financial Catastrophe

http://www.businessinsider.com/must-watch-citis-willem-buiter-says-europe-might-just-have-days-before-a-financial-catastrophe-2011-11

Contagion tightens its grip on Europe

http://business.financialpost.com/2011/11/16/contagion-tightens-its-grip-on-europe/

Ratings agency Fitch issues warning for U.S. banks

http://www.theglobeandmail.com/globe-investor/ratings-agency-fitch-issues-warning-for-us-banks/article2238540/