Prophecy Sign: The collapse of the world markets and the global economy
No matter what Europe tries to do, the world markets pretty much revert back to a panic situation. How else to describe headlines that warn that the eurozone banking system is but weeks away from collapse, and that the bond rating services are still not convinced anything is any different and they will still likely downgrade the status of most Eurozone states in 2012. And then you have a very well known market investor and market watcher who is convinced the whole global derivative system, (credit swaps), upon which the sovereign debt house of cards is built upon, will collapse very shortly, (see video below). It's coming folks, the collapse of the global markets, and with it, the establishment of the new global financial system of the future Antichrist and his 10 sidekicks, (10 Kingdoms of Revelation 17).
Now listen, you rich people, weep and wail because of the misery that is coming upon you. Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. James 5:1-3 NIV
From the articles:
The eurozone banking system is on the edge of collapse as major lenders begin to run out of the assets they need to keep vital funding lines open. Senior analysts and traders warned of impending bank failures as a summit intended to solve the European crisis failed to deliver a solution that eased concerns over bank funding. The European Central Bank admitted it had held meetings about providing emergency funding to the region's struggling banks, however City figures said a "collateral crunch" was looming. "If anyone thinks things are getting better then they simply don't understand how severe the problems are. I think a major bank could fail within weeks," said one London-based executive at a major global bank.
_____________________________________________Twenty-six of the 27 European Union leaders on Friday agreed to pursue stricter budget rules for the single currency area and also to have euro zone states and others provide up to 200 billion euros ($267 billion) in bilateral loans to the International Monetary Fund to help tackle the crisis. "In substance, however, the communiqué offers few new measures, and does not change our view that risks to the cohesion of the euro area continue to rise," Moody's said in its weekly credit report. "As we announced in November, unless credit market conditions stabilize in the near future, our ratings of all EU sovereigns will need to be revisited. The communiqué does not change that view, and we continue to expect to complete such a repositioning during the first quarter of 2012."
Eurozone banking system on the edge of collapse
http://www.telegraph.co.uk/finance/financialcrisis/8947470/Eurozone-banking-system-on-the-edge-of-collapse.html
Is The Eurozone Banking System About To Collapse?
http://seekingalpha.com/article/313085-is-the-eurozone-banking-system-about-to-collapse
Moody's: Pressure Remains on Euro Sovereigns Despite Summit Deal
http://www.cnbc.com/id/45636510/
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