Banking Collapse from a personal perspective.

[Woody]

I have a friend in Germany. He works in the financial sector there. In August he wrote to me and warned that the entire banking system in the US would collapse before the election. And that our system would never be the same. Buying and selling would now be difficult.

I am not one for prophecies and conspiracies .... so I totally ignored his email. Just this week I got to thinking about him and his email.

HOW DID HE KNOW and PREDICT? This has blown my mind. And I don't have a lot of extra brain cells.

[carolaa]

Why don't you ask him? I'd love to know too.

[aldona]

I've been reading similar predictions coming from commentators in various countries for over 1-2 years now.

I have had the thought in the back of my mind now for over a year that the US economy is in deep, deep trouble.

I don't think you need to be a rocket scientist or a clairvoyant to come up with a prediction like that - or is the US the only country in the world where stuff like that has not been discussed in the media for a while now?

aldona

[John317]

I have a friend in Germany. He works in the financial sector there. In August he wrote to me and warned that the entire banking system in the US would collapse before the election. And that our system would never be the same. Buying and selling would now be difficult....

This kind of news has been coming from many different quarters, actually. It's not mystery or a prophecy. It's economic analysis.

How bad it will get nobody really knows, but it probably hasn't seen the worst yet. That could be months away yet. Hold on for the ride! Next president, no matter who it is, is going to have a whole lotta fixing to do. Hope he's up to it.

[CyberGuy]

It has been in the news journals for sometime of the eventual collapse of the american banking system. They get that info from the financial statements of the big banking institutions. It was obvious that a collapse was coming. The liabilities or money owned was far more than the assets or assets that could be turned into cash to pay for the liabilities was not enough to pay for the liabilities. Most people were turning a deaf ear to these nay sayers as they have been hearing those for a year or more and nothing had happened.

Now all the banks are merging into three super banks.

Bank of America

JP Morgan and Chase or chase as it is known on its credit cards

Citi Corp or Citibank as it is known on its credit cards.

How will the credit crunch affect us.

Some are already happening.

Credit limits are being reduced on credit cards.

Banks are raising credit card interest rates. I had one credit card raise their rates from 16.9 percent to 24.9 percent in the last month. I am paying off that balance in two weeks. That is outrageous interest rates.

Banks are denying car loans and house loans because of lack of funds.

The super banks are extended themselves with the recent purchases.

JP Morgan and chase had to devalue their stock with the recent purchase of Washington Mutual so as to not put them in a financial crunch.

So I would advise everyone to pay off those credit card with balances right away. Interest rates are raising soon if they have not already. Keep the balances down. Build up some savings for that eventual unexpected expenses like car repairs or other repairs that will happen from time to time.

[Amelia]

Quote:

Banks are raising credit card interest rates. I had one credit card raise their rates from 16.9 percent to 24.9 percent in the last month.

This happened to me too. Went from 5.9% to 29.9%

[Guest truthseeker007]

Everywhere banks are being nationalised. If we are really heading toward a severe depression then governments will decide who gets permission to get loans from the bank. This reminds me of the prophecy that says that no sabbath keeper shall be able to buy or sell. In case of a national crisis, in combination with the rise of the supernatural (the jesus imitation of satan) and the infiltration by Catholic agencies in the government, this could, in theory, become reality very soon. Actually when i look at the world, i don t know why it takes so long for the final events to unfold. According to the bible we are already living in the very final phase of the endtimed. I hope Jesus comes soon.

[Gail]

I just got emailed information that said that Canada's banking system is the strongest in the world right now. America came in at 44th, if I recall correctly.

Tough times ahead!

[carolaa]

One person I work with just transferred a bunch of money to Canada this week.

[John317]

.... Actually when i look at the world, i don t know why it takes so long for the final events to unfold. According to the bible we are already living in the very final phase of the endtimed. I hope Jesus comes soon.

There's no question in my mind that you're right here, truthseeker.

The main thing to remember, though, is that God is really looking at what is happening spiritually among those who claim to be His followers. I don't believe He'll allow the end-time events, such as the great tribulation and Sunday law, to occur until His church is ready for those things. Of course only God knows when the church has reached that point. The reason He waits is that He knows a lot of people aren't strong enough spiritually to face what's going to happen. The only reason anybody will make it through is the Holy Spirit in their lives.

But you are exactly right, that the world is full of many signs showing we're living very close to when Christ returns. All the signs are there.

[LifeHiscost]

Fixed rates on credit cards are a big help when following through with good discipline in maintaining payments. I understand when one misses payments on one card, many other credit card accounts to the same person will raise their rates. I'm supposing that could only be on a variable rate card.

The banks are not as worrisome as when the state you're living in informs you they're not able to give a previously OKed grant because of insufficient funds, something that happened just this week to my family.

Also one might not recognize how they might react when a rightfully expected federal check fails to show up in the electronic deposit as had been established for the last nine years. For me it was rather like heeding the biblical advice for another set of circumstances in a different context.

"And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name." Revelation 13:16-18 KJV

Regards!

[Lineman]

Actually when i look at the world, i don t know why it takes so long for the final events to unfold. According to the bible we are already living in the very final phase of the endtimed. I hope Jesus comes soon.

[fccool]

I have a friend in Germany. He works in the financial sector there. In August he wrote to me and warned that the entire banking system in the US would collapse before the election. And that our system would never be the same. Buying and selling would now be difficult.

I am not one for prophecies and conspiracies .... so I totally ignored his email. Just this week I got to thinking about him and his email.

HOW DID HE KNOW and PREDICT? This has blown my mind. And I don't have a lot of extra brain cells.

Redwood, read the very first post I've had on this forum.

http://www.clubadventist.com/forum/ubbth..._mil#Post151946

This is not something that it not a commons sense to any person who does a minimal amount of research. If you begin to understand the way banking system and wall street work, you will realize that they were doomed from the very beginning.

You say you don't believe in conspiracy theories, but that's not true. You believe that papacy is joining protestantism to bring about Sunday worship law. If that does not sound like a conspiracy theory, then I don't know what is.

My point is that conspiracies are real. People conspire together to do various things. It's not a dirty word... And the large the scheme, the more unbelievable it seems. That's why largely people just dismiss the evidence prior to any evaluation of the facts.

That's the case with anything you will encounter. For example... the 9/11 conspiracy theories are due to unanswered questions/ludicrous explanations of the events transpired that day.

A very obvious one is..

How can a jetliner fit in the above hole in the wall... without leaving any broken parts, or not taking the pictured cars with it? It's ludicrous! It makes the official story look like a conspiracy theory.

So, the obvious question would be... if the plane could not do that... then what did it... where is the original plane... and what happened to the people on that plane?

Of course we could only give theoretical answers to the above.... but these answers do not invalidate the original assumption! A passenger plane could not fit into that hole, and it could not simply disintegrate without leaving large peaces, such as engines and that should at least damage the places next to that hole.

My point is, you can't just dismiss valid questions as being "conspiracies". It's not a theory yet, it's an honest observation and a question. I understand you need to look sane under the peer pressure of this world. But the truth is, the world is insane, and they want you to be insane with them. Any sane people are ridiculed.

I abandoned my International Business Degree in my college because I saw through the system once I've learned the mechanics of it. I understood that it doomed to fail. I was tired of questioning my professors about the nature of the fractional reserve system, about the fairness of the dollar economy and the illusion of prosperity it brings, and how it will eventually fail.

The people who buy the inherent "goodness" and "fairness" of it all, have an inherent bias to keep it seem that way. All of us are deceiving ourselves into doing so, once we are conditioned to do that by society around us.

So no people are asking me, how did you know... too. If you roll a ball of the cliff, you can sure that it will fall. It's not a matter of prophesy in this case, but simple math and statistics.

[Woody]

911 is not the topic of this thread. Thanks.

[Robert]

Unless limits are placed on the market...unless Wall Street is regulated, it will collapse under its own greed and corruption.

Keep in mind that most Republicans like to dumb down regulation. This way they can make more money. They don't mind gambling with your money as long as they can make more. Besides, if the cookie crumbles they hold out their fat little hands for some corporate welfare (better known as socialism).

Ain't it ironic that the very folks who hate socialism are the first ones to turn to it when they need money? Hmmm...

[fccool]

911 is not the topic of this thread. Thanks.

I did not make it a topic. I just addressed your assumptions about conspiracies as being untrue, instead of asking the unanswered questions.

[Guest truthseeker007]

I was just thinking, i remember that Walter Veith quoted some verses of Ellen White in which she said that the labor unions and monopolies of this world would create worldwide chaos. Does anybody here know the writings i am talking about? A financial crisis in which the financial agencies only serve their own interest is likely to end up in a great economic disaster. Interesting to me, when you check out http://www.share-international.org/ this 'master' is constantly saying that he is willing to make himself known when people need him the most. He implicitly refers to the possible coming economic crisis. I don t know whether this Maitreya guy is just a fairytale made up by money-loving people, but the organisation that is backing him up has very strong ties with blavatzky, etc.

[Amelia]

Quote:

The Adventist Home (1952), page 136, paragraph 4

Chapter Title: The Family and the City

Labor Troubles.--Through the working of trusts and the results of labor unions and strikes, the conditions of life in the city are constantly becoming more and more difficult. Serious troubles are before us, and for many families removal from the cities will become a necessity.

Quote:

Country Living (1946), page 10, paragraph 2

Chapter Title: Section II - Avoiding Labor Conflicts

Labor Trouble Ahead

The trades unions will be one of the agencies that will bring upon this earth a time of trouble such as has not been since the world began.--Letter 200, 1903.

Quote:

Last Day Events (1992), page 117, paragraph 3

Chapter Title: The Cities

The time is fast coming when the controlling power of the labor unions will be very oppressive.--2SM 141 (1904).

Quote:

Maranatha (1976), page 182, paragraph 2

Chapter Title: Labor Unions and Trusts

In all our great cities there will be a binding up in bundles by the confederacies and unions formed. Men will rule other men and demand much of them. The lives of those who refuse to unite with these unions, will be in peril.

[Guest truthseeker007]

Thanks Amelia. Anyone else has some thoughts about this Maitreya being? Walter Veith claims he had an encounter with him once. While he was giving prophecy lectures, the room nearby was filled with Maitreya believers who ran on the streets claiming Maitreya manifested itself.