NEW WORLD ORDER

[Joe Ross]

At the start of the euro, when I was still writing the monthly version of Traders Notebook, I quoted Donald MacDougall, a distinguished Oxford professor:

"...all other monetary unions in history had need to control something like 20-25 percent of the union's gross domestic product in order to make the transfer payments from rich (or hard-working) countries to poor (or feckless) ones that could fix such imbalances. Europe itself might get away with rather less, perhaps 10 percent if it were lucky, but certainly sums that were orders of magnitude higher than the 1.2 percent of Europe's GDP that the EU currently commands."

In fact, such transfers were made from Germany and France to the southern countries, but they were made by banks and investors who thought they were investing in reliable euro bonds that happened to be issued by Greece and Spain. The banks have now discovered that they were not buying euros that were as safe as German D-marks, but euros that were really as unsound as Italian lire and Greek drachma.

It should therefore come as no surprise that Europe's trillion-dollar Band-Aid isn't working, and will not work. The wound goes much too deep. Either the eurozone now integrates and becomes a federal state like the United States and under German economic management, or it collapses, and the Greeks and other profligate countries devalue and the banks (German, French, British and American) lose hundreds of billions. This will trigger the second global wave of economic crisis, just as the financial crash of 1929 gave way to the government insolvency crash of 1931.

Bible prophecy calls for just such a federal state to arise among a ten nation conglomerate. It will be the final resurrection of the Holy Roman Empire. The banking families who run this world, are not about to lose hundreds of billions. They will bring about whatever crises are neeeded to make the federal state a reality.

Scripture shows that the federal state will consist of 5 strong nations and 5 weak (feckless, ineffective) nations. It is pictured in scripture as feet having ten toes comprised of iron and clay--iron mixed with clay--strong mixed with weak.

German Chancellor Angela Merkel spoke the obvious when she declared last week that "If the euro fails, Europe fails." The trouble is that not one of the available ways to fix the euro problem yet appears to be politically possible.

However, you can get an awful lot done by creating a crisis. Merkel knows this, which is why she went on to say, "The current crisis facing the euro is the biggest test Europe has faced for decades, even since the Treaty of Rome was signed in 1957."

As long ago as 1968, I have been aware that somehow, some way, we would see a ten nation power rise up in Europe. Frankly, I had no idea how it would or could come about. However, I see now, and we are actually living in the time that the prophecy is going to happen. It is a prelude to the final showdown at the end of the age, which will bring about Armageddon and the return of Christ. Every bit of which was predicted over 4,000 years ago.