Prophecy Sign: The collapse of the global economic system
Greece will default, (according to many economic gurus), causing untold damage to the already fragile eurozone. In fact, the Italian Prime Minister is warning that unless something significant comes out of the upcoming EU leaders summit next week, there will be "apocalyptic consequences". Meanwhile, 15 of the largest banks in the world have seen their credit ratings downgraded by Moody s, signalling to already jittery world markets that the worst is still to come. It's going to happen folks. Buckle up.
We believe as part of the bride of Christ, we will be removed to a heavenly abode by the groom, Jesus Christ, prior to the Tribulation judgements of God, (the Rapture of the Church). However, an economic collapse may be something all of us will have to endure for a time until the Antichrist enters the scene and begins the process of implementing a new economic world order.
“Surely he will have no respite from his craving; he cannot save himself by his treasure. Nothing is left for him to devour; his prosperity will not endure. In the midst of his plenty, distress will overtake him; the full force of misery will come upon him. Job 20:20-22 NIV
From the articles:
If you want to be scared, truly terrified, listen to Mark J. Grant. He might be right. For the past two years, Grant, a managing director at a regional investment bank in Florida , has been predicting the bankruptcy of Greece and a cascade of chaos across the global economy, attracting quite a following on Wall Street in the process. "Greece will be forced to return to the drachma and devalue, and the default will cause bank runs and money flowing into Germany and the United States as the only viable safe haven bets," he declared in the days before Sunday's Greek elections, irrespective of which party would win. "Greece will default because there is no other choice regardless of anyone's politics."
Moody's Investors Service lowered the credit ratings of 15 the world's largest banks late Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking. The ratings agency said it was especially concerned about banks with significant financial markets businesses because those markets have become so volatile. Some of the largest European banks were also downgraded, including Barclays, Deutsche Bank and HSBC. The downgrades mean Moody's is more concerned about the ability of the banks to repay their debts. Moody's had said in February that it was considering downgrading the credit ratings of major banks in the U.S. and in Europe .
Welcome to Doomsday, warns Wall Street seer
Mario Monti: we have a week to save the eurozone
Major lenders humiliated by credit agencies
Moody's cuts credit ratings on 15 major banks
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