You don’t necessarily want to hit the panic button with every fluctuation of the market. However there are more than a few signs that even though the American economy seems to be swimming along ok, danger may lie just around the next bend. First, a bit of unexpected (to some) good news. The Trump tax cut is already starting to pay for itself. Fueled by significantly more money in the economy, the CBO revised its growth estimate from 2% to 3.3% for this year – and up nearly a percentage point for next. They’ve also revised their long range forecast, predicting the economy will grow by an additional $ 6.1 trillion by 2027. And the tax cut will produce $1.1 trillion in new revenues.[i] Already in February, the Treasury took in $1.4 billion more than the year before.[ii] That’s the first month the tax cuts would have had any real effect at all. But the US national debt stands at $19.19 trillion. And elsewhere, as Shakespaere might say it: There is something truly “rotten in the state of Denmark.” Only now, it’s in Italy, and Spain and Germany, perhaps.
Here’s a Zero Hedge headline from earlier this week: “Panic, Crisis In Italy: Dealers Pull Bids As Bonds, Stocks Crash; Euro, Deutsche Bank Tumble As Contagion Spreads. There is a giant sell-off of Italian bonds as their values tumble. Zero Hedge’s conclusion: Europe is once again facing to both its currency, as well as its very existence.”[iii] This is an analysis concurred in by Greg Hunter of USA Watchdog and his regular guest, analyst and trader Gregory Mannarino. Mannarino believes we’ll soon be in for a replay of financial crisis of 2008. “The European debt crisis was never fixed. They kind of just added more debt onto a debt issue….The Fed is not magic. …Quantitative easing never stopped, and it is continuing on as we speak. We also know the world central banks are doing things like buy each other’s debt to try to keep this propped up. This issue that is unfolding in Europe has the potential to be a tsunami.” He sees a rapid sell-off of bonds and when that happens, the central banks won’t “be able to stop the bleeding.” Money / currency will be looking for a safe landing. So gold and silver will spike,[iv] as they always do in times of crisis. That means a weaker dollar, a higher cost to borrow – even to just service the debt. And that could serve as the trigger point of an American crisis. Now we’ve got none other than George Soros chiming in and agreeing with the doom-sayers with regard to Europe. “Europe is in existential danger; it is the harsh reality.” His context though is a little different. Soros is trying to protect the international drive toward globalization. So he blames it on things like, Brexit and Trump and the end of the Iranian nuclear farce.[v] In addition to Italy, Spain is threatening a bond crisis, Germany’s Deutsche Bank is in trouble – both of which are putting pressure on the Euro, and just for giggles, Turkish currency has been plummeting, falling 20% against the dollar since the beginning of the year.[vi] So the table is set for some potential trouble. [In fact, as this was going to press, Deutsche Bank stocks had crashed to all-time lows and Standards & Poor’s had downgraded their bonds to BBB+]
All of this brings us to a prophetic word given by the late Rev David Wilkerson. whose statements on other subjects have proven so eerily accurate over the years. This word came during a 1994 sermon, and we’ve talked about it here before. Now this is NOT biblical prophecy and so does NOT hold the same weight, but with other pronouncements, Rev Wilkerson has, over the years, been eerily accurate. So here’s what he had to say. The crisis would begin when “a European or North African or Eastern nation….[defaulted] on its international loan and when that happens, within two weeks, Mexico is going to default.” He went on to explain. “Here’s what is going to happen: about two weeks after the first country goes bankrupt, (we’re going to survive that, because most of that (money of the first country) is owed to European banks—German, Swiss and French banks) but a second country is going to go down, probably Argentina or Brazil, and we’ll kind of live that down and say: ‘Well, maybe it’s not going to hurt,’ but two weeks after the first country goes down, Mexico’s going to default on $100 billion. And when the banks open the next day at 9 in the morning, $15 billion an hour is going to be withdrawn from our American banks -they’re going to be running our banks—the Arabs—all the Latin American countries, they’re going to be running our banks–and before the day is over, the USA is going to have to declare a ‘bank holiday.’”
Wilkersons’ vision went beyond the mere financial crisis. Before his death he foresaw a total unraveling of the social fabric of the nation. “And we’re going into six months of the worst hell America has ever seen—there’s going to be chaos—not even the National Guard’s going to be able to quiet it down—we’re going to have to call out the whole US Army.” He went on. “I was in Macy’s in a vision, and I saw people walking around stunned because they couldn’t get their money out of the bank. Now I’m going to give you a word of advice, the first country goes bankrupt…. but the first country that bellies up, you go get every dime you have—church get your money out of the bank–because there’s going to be a ‘bank holiday’ and you won’t be able to get a dime for six months. Now, of course, there’s going to be -restored, but the nation will never be like it is again. There’s going to be fear like we’ve never known—judgment at the door.”[vii] I don’t know if this is a word for today….but it is interesting nonetheless.
Long Term Goal: Death To The Dollar
Now all of this could play into Globalist’s dream. The elimination of the dollar as the reserve currency is essential to achieving their One World Order regime. Let’s start with this: The dollar has been in long term collapse since the establishment of the Federal Reserve about 100 years ago. Gregory Mannarino describes it as the “US Dollar Death Spiral.” This long-term downward trend is due to the fact that “we have a runaway central bank (The Federal Reserve) who continues to print dollars/add them to a digital screen at a blinding pace.”[viii] This comes at a time when China and Russia and other nations are moving away from the dollar as the world’s reserve currency. They are setting up alternatives to the petrodollar. They are preparing the way for the next global financial phase. One likely dollar alternative will consist of a basket of currencies – and it is no accident, that China is on the cutting edge of preparations for that move. Both Moscow and Beijing have been importing gold at astounding rates. All of this is an attempt, in the words of Brandon Smith, to achieve a long planned for endgame. “The goal of the endgame: to remove the dollar’s world reserve status and to pressure the American people into conforming or even begging for centralized administration of our economy by the IMF.”[ix]
[i] It’s Official: Trump Tax Cuts Are Boosting Growth And Mostly Paying For Themselves, Investors Business Daily, April 10, 2018
[ii] Federal Tax Revenues Hit Record Highs, Investors Business Daily, March 13, 2018
[iii] Panic, Crisis in Italy, Zero Hedge, May 29, 2018
[iv] Europe and World Facing Another Debt Crisis – Gregory Mannarino, Greg Hunter’s USA Watchdog, May 30, 2018
[v] George Soros Claims New Global Financial Crisis Coming, The Christian Journal, May 29, 2018
[vi] ERDOGAN URGES TURKS TO STICK WITH COLLAPSING LIRA, Zero Hedge, May 26, 2018
[vii] It’s About To Happen, ANP, June 25, 2015
[viii] Gregory Mannarino, Proof Of The Continuing US Dollar Death Spiral, Seeking Alpha, July 7, 2015
[ix] Brandon Smith, IMF Now Ready To Slam The Door On The U.S. And The Dollar, Alt-Market, December 17, 2014