A guest on one of the TV financial programs has revealed the secret of how banks can create money even when they're short of cash - and it's perfectly legal!
He said he had once worked for a bank which ran short of money. The bank had a trading relationship with a large company so they asked it to buy some of their shares. The company also had insufficient money. No problem! The bank simply issued shares which the company bought, with money loaned by the bank! The company loan then became an asset on the bank's balance sheet. Thus the debt was transformed into an asset. From minus to plus, at the click of a few buttons.....
Similar things are happening now in Spain, where the Spanish government deposited some of its debt with a troubled bank, which then counted it as an asset. The bank could then go to the ECB, the European Central Bank, and get a big loan. Easy peasy! The taxpayer pays, as usual.
The next danger is that investors start drawing billions of Euros out of Spanish and Italian banks as they fear they could go the way of bankrupt Greece. That really would put huge pressure on the European Central bank, The International Money Fund and the treasuries of nations like Britain and Germany which would have to bail ever more furiously, even though we have troubles of our own. We are well into the funny money era, but the laughter is strained. It's a bit like a mad pass the parcel game.
The system is creaking and some drastic solutions will have to be found, as I have written before. We're running out of time, which is why I have for years advised people to put some of their money into gold. This is the reason we allow just one advertisement on our site- bullionvault.com, which deals fairly with investors.
What's this got to do with Bible prophecy? A great deal. Because we are told in the Book of Revelation that the coming antichrist will create a one-world government and banking system and nobody will be able to buy or sell without taking his mark- 666- the mark of the beast. First, cash will have to crash. Out of disorder will rise the New World Order.
I do a Powerpoint talk on the building of this New World Order, for which the false prophets and teachers are prepping the world. If any church can put aside their Rick Warren candyfloss Christianity for a few minutes to hear the reality of what is happening, I am available for church presentations, in Britain and, this October and November, in America- plus in the States in Texas next June (2013) at Dave Reagan's prophecy conference. Time is short, my friends. Let's not waste it by listening to preachers who tickle itching ears......