Greenspan’s predictions about a United States of Europe

Though Mr. Greenspan does not believe his solution for the survival of the euro will materialize, it is exactly in line with prophecy.  The Bible foretells of the coalescing of a German-led European union into 10 distinct nations and/or blocs, which will be the end-time beast power.

One of the reasons the EU fought so hard to work with Greece, was to not appear weak either at home or abroad.  With a “Grexit“, other countries may follow suit and leave, thus precipitating the number of nations involved pare its way down to requisite number to fulfill prophecy.

However these events may transpire, the one thing that we know for sure is that God’s word will be realized.

The former head of the US central bank, Alan Greenspan, has predicted that Greece will have to leave the eurozone.

He told the BBC he could not see who would be willing to put up more loans to bolster Greece’s struggling economy.

“The [bailout] conditions with Greece were generous, beyond all measure,” German Finance Minister Wolfgang Schaeuble said last week. He saw no justification for relaxing them further.

Greece wants to re-negotiate its bailout, but Mr Greenspan said “I don’t think it will be resolved without Greece leaving the eurozone”.

Mr Greenspan said: “All the cards are being held by members of the eurozone.”

“I believe [Greece] will eventually leave. I don’t think it helps them or the rest of the eurozone – it is just a matter of time before everyone recognises that parting is the best strategy.

“The problem is that there there is no way that I can conceive of the euro of continuing, unless and until all of the members of eurozone become politically integrated – actually even just fiscally integrated won’t do it.”

He also warned that trying to hold the 19-nation euro bloc together “is putting strain on everybody”. He said as well as Greece leaving the eurozone, there was a real risk of a “much bigger break-up” with other southern European countries forced out.

Alan Greenspan has long been a critic of the European single currency. Now, the 88-year-old former chairman of the US Federal Reserve has repeated a claim that nothing short of full political union – a United States of Europe – can save the euro from extinction.

Given that few (if any) of the current 19 sovereign governments which make up the eurozone would choose to create such an entity at this time, that means – for Greenspan at least – the euro is doomed.

Before all that, though, he foresees Greece quitting the single currency, but the euro surviving intact. Grexit, he says, is more manageable now than it would have been when Greece got its first EU bailout in 2010.

via BBC News – Greece: Greenspan predicts exit from euro inevitable.

Greece Struggles to Get Europe to Change Course on Austerity

OUT OF THE EURO ZONE?

Should the conflict between Greece and its creditors continue to worsen, an old question will once again surface: Should Greece stay in the euro zone or not? And how dangerous would a so-called “Grexit” be for the country and for the remainder of the common currency union? The second question is vital for determining who has the better cards in the poker game between Greece’s new government and the country’s creditors.

A possible Greek exit from the euro zone is not, obviously, a new concern. Three years ago, it looked like a realistic possibility until Berlin became convinced that the risks of contagion for other euro-zone countries was too great. But since then, the situation has changed dramatically. Both Greece and the euro zone are in better shape than they were in 2012 and would be better prepared to handle a Grexit.

Euro-zone countries may have established a functioning bailout fund and made progress on a banking union scheme, but a Greek exit could attract speculators. “International investors would quickly begin asking which country might fall next,” Ackermann believes….

Speculators could begin testing just how durable the rest of the euro zone really is and focus on countries like Portugal, Spain or Italy….

via Greece Struggles to Get Europe to Change Course on Austerity – SPIEGEL ONLINE.

Netanyahu: speech to US Congress about ‘the very survival of my country’

The diplomatic stand-off between Binyamin Netanyahu and US Democrats worsened on Tuesday as more congressmen threatened to boycott a speech by the Israeli prime minister ….

Netanyahu repeatedly defended his decision to accept an invitation from Republican leaders to address a joint session of Congress that the White House has called a partisan breach of protocol.

“I am going to the United States not because I seek a confrontation with the President, but to speak up for very survival of my country,” said the prime minister in of one several English-language tweets seemingly aimed directly at the US public.

“I intend to speak in the US Congress because Congress might have an important role on a nuclear deal with Iran,” he added, receiving over 4,000 retweets after asking followers if they supported his “determination” to speak in Congress.

Earlier, Patrick Leahy, the longest-serving Democrat in the Senate, became the latest senior figure to say he would not be attending next month’s address which was arranged by the House speaker, John Boehner, to highlight differences between Israel and Barack Obama over negotiations with Iran to prevent it developing nuclear weapons.

via Netanyahu: speech to US Congress about ‘the very survival of my country’ | World news | The Guardian.

Catholics and Lutherans together….

Revelation 17:3-5 describes the Catholic religion and those that have spawned off of it as being in the same category of spiritual harlotry.  Though many have left the mother church they willingly take of the mark of the beast, and will continue to do so….

“The fact that you come here together is itself a witness to the importance of efforts for unity. The fact that you pray together is a witness to our belief that only through the grace of God can that unity be achieved. The fact that you recite the Creed together is a witness to the one common faith of the whole of Christianity”. St. John Paul II addressed these words to the first Finnish ecumenical delegation of the Lutheran Church to come to Rome thirty years ago, and this morning, Pope Francis repeated them to the delegation present today on their annual ecumenical pilgrimage to celebrate the feast of St. Henry of Uppsala, the patron of Finland….

….A shared Christian witness is very much needed in the face of the mistrust, insecurity, persecution, pain and suffering experienced so widely in today’s world”.

He continued, “This common witness can be sustained and encouraged by progress in theological dialogue between the Churches. The Joint Declaration on the Doctrine on Justification, which was solemnly signed some fifteen years ago between the Lutheran World Federation and the Catholic Church, can produce further fruits of reconciliation and cooperation between us….Let us hope that further convergence will emerge from that dialogue on the concept of the Church, the sign and instrument of the salvation brought to us in Jesus Christ”.

via Catholics and Lutherans together can bear witness to God’s mercy in our societies.

Senator Rand Paul: Audit the Federal Reserve

If the Federal Reserve was a real bank, without extraordinary powers, it would be insolvent.

The Fed has $4.5 trillion in liabilities and only 57 billion dollars in equity. It is leveraged at 80:1, nearly three times greater than Lehman Brothers when it failed.

Nearly 40 percent of the Fed’s liabilities are said to be mortgage-backed securities – the question needs to be: How many are distressed home loans?

What does that mean? It means the dollar that was once as good as gold ultimately became backed by the full faith and credit of the U.S. government. And since the panic of 2008, your dollar is now backed by bad home loans, bad car loans, and derivatives.

Is anyone comforted?

Over the past one hundred years the dollar has lost 96 percent of its value.

If the Fed were forced to do, what every ordinary bank must do—take its “assets” and mark them to their current market value—many believe the Fed would be insolvent.

So, after the banking crisis of 2008, we got alarmed and we passed regulations. The only problem is, we passed regulations on the banks that weren’t involved and gave more power to the bank that was involved—the Fed.

No bank in Kentucky failed during this crisis, yet Dodd-Frank pummeled our small community banks with crippling regulations.

What we really needed was more oversight of the Fed, not small community banks.

If the Fed has purchased more than $2 trillion dollars of “distressed” assets, don’t taxpayers deserve to know what they bought?

Did they buy the assets of friends and acquaintances?

Did they buy any liabilities from companies they used to work for?

Maybe someone should ask about the revolving door from Wall Street to the Treasury to the Fed and back again. Are there any conflicts of interests?

Some worry that an audit would reveal which banks are shaky and lead to a panic.

Peter Bernholz writes that public deficits have frequently been the reason for hyperinflations.  The fight is twofold.

Audit the Fed is about transparency, but the fight is also about restoring fiscal sanity to our nation’s checkbook.

via Sen. Rand Paul: Audit the Fed – Breitbart.