Would you like to deal in facts and the truth? Really? Because most just say so with their tongues while within their hearts they shudder, hide and attempt to bury any facts or truths. I sincerely hope you’re cut of the former fabric rather than the latter because you won’t like what I’m about to write. You’ll have a built in tendency to deny, attempt to hide from, explain away with feebleness, and shudder within while being another among the world’s great actors and actresses never up for or ever winning an Oscar or a BAFTA award.
I’m not an economist, nor highly educated. I’m more self-educated [as directed by the Spirit of God in large part] than well schooled, thankfully! Whatever finite gifts or abilities or mind I have to use none of that is of my doing. It’s all about how God knitted me together in my mother’s womb, and knew me before the foundations of the world were brought about by God’s will and words, “Let there be…”
Prior to being changed within, within my heart, mind, spirit, and soul by the Supernatural unexplainable power of the Spirit of God due to my simple acknowledgment of God’s inerrant infallibly living Word, yet much more than mere acknowledgment — by my faith alone, by my acknowledgment more of my sin and need of salvation, by my confessing my sin and repenting and asking God to forgive me and to save me I wrote a blog called The Write Stuff that was one hundred percent political. And heavily into world economics, which I studied daily putting pieces of the jagged and hidden, the lying and attempting to misdirect puzzle together.
At the height of this, just prior to my conversion to have Jesus as Lord of my life, there was the Great Economic Upheavel and Recession and Woes of [2007 when I noticed what was happening and that everyone in the world was in a heap of economic trouble but no one believed it] 2008 to the present.
Although “to the present” doesn’t resonate with people as to the economic actions or failure to act of the 2008-2010 timeline being directly related to the bank failures witnessed presently — and these will continue like dominoes falling in a game, but those people who’s names are not known by most, those of wealth beyond comprehension, those that imagine themselves in power, being the power, and their insatiable greed and lusts aren’t playing with black wooden rectangles with imprinted white dots on them on a tabletop — these folks are playing what they deem “a game” with the world’s material economy. Everyone’s money. And they play this game with everyone else’s money. Not their own.
I’m almost finished here before directing you to the article below — I wrote of what I’m about to write DAILY and I wrote the facts, the truth and no one cared. No one believed. No one listened. Well, my lovely wife did, but from the time I saw what was happening and what was eventually going to happen — which is this very moment where you sit reading this — I wrote that due to the convening of government committees to appear in charge and “doing something” about the economic collapse and various financial instruments and actions permitted that brought about the Great Economic Upheavel and Recession and Woes that were easily seen in 2007 to even a person such as me, if only they would have bothered to look while also applying history and human nature to the mix — THAT NOTHING WAS EVER REALLY DONE TO ACCOMPLISH THE HOW AND WHY OF THE ECONOMIC TROUBLES.
But who cared when it was more important to them to know what Tom Brady and Giselle were doing, or who won on some rigged American television program, and they could not pull themselves away from the scripted, edited, and constructed with the purpose to appeal to human natures lowest common denominators, to otherwise be always occupied while making sure to deny and hide from reality. From the facts and the truth. Loving to inhale all the smoke generated and keep gazing into all the mirrors providing endless angles and images to conceal what actually lay behind the reflective glass, not unlike the fool behind the curtain in Oz.
What was the leading culprit to the economic woes of 15 years ago that only appeared to disappear only to now reappear bigger and badder than back then?
A number of factors, but in essence CREDIT DEFAULT SWAPS, which are financial instruments that every financial institution were heavily involved in, including banks since banking reforms of the recent past permitted banks to become gambling institutions not much different than the casinos the lost and deluded enter in the foolish hope of hitting it big — credit default swaps are literal gambling on companies, nations economies with money they don’t have. And when things go south as they did back 15 years or so ago — and credit default swaps only came into existence in 1994 at J.P. Morgan by Blythe Masters. The thing with credit default swaps is simply that the buyer of these financial instruments may default on the contract thereby denying the seller their expected revenue. And all of this is done without having the actual funding to back them up.
It’s like if you or I as individuals wrote up a financial instrument to sell, let’s say $20,000,000,000.00 and we had a signed contract from a buyer for that amount. And the buyer defaulted and could not pay up when required. This would create a rather large gap in our liquidity, and our assets would it not?
Now increase this by EVERY financial institution in the world dealing in credit default swaps to the tune of HUNDREDS OF TRILLIONS OF DOLLARS — a far greater dollar value than exists worldwide in assets, and, well money, and then the feces hits the fan. And the gambling doesn’t work out?
This happened big time about 15 years ago but had been occurring for years prior due to insatiable greed. Ever wonder how not long ago we had millionaires, and then some folks worth hundred of millions not long ago, to then suddenly we had billionaires? Many of them now. And we now are in the age of creating the trillionaire?
There was the usual scrambling about, a lot of hot lying air spewed, scenes wherein politicians would stand before an array of microphones and video cameras espousing how they would get to the bottom of this, there would be reforms, this would never happen again!
And they all in reality did nothing. Not one thing to abate, slow down, or halt the diseases built into the system. In fact, they only tossed gasoline onto the already raging out of control fire.
And credit default swaps are in use in greater numbers now, leading up to this current economic collapse which has only become visible but was eroding and crumbling for years prior.
The Federal Reserve Bank of the United States, along with the Central Banks of many nations attempted to hide all the “bad money” and economic woes by buying up as much as they could but what to do with them all there were so many? And there would come a time their lies, their attempt to delude and hide all the problems away would be found out. That pile of dung can only get so high under the carpet before people begin tripping, falling over it and notice.
And we’re now there.
How deep, how far, and how long will this present worldwide economic collapse go that only recently has become visible to those who should have been paying attention along the way?
they don’t know. And they continue to lie, deceive and hide from reality, the truth, as they always have, always do, and always will.
To the suffering and expense of the people of the world. Who seem to only care about what their favorite sports team is doing, who the masked singer is, or in the myriad other ways they make sure they hide from and deny reality. Living their pretend lives that are in truth so utterly serious, eternally serious yet they treat so lightly and horribly.
And it’ll only get worse. And worse. And worse still.
And while this may not seem a matter of faith, a matter of God, the Lord Jesus Christ, the Holy Spirit, and the Holy Bible there is nothing that occurs within an individuals life, the life and actions of a nation, that actions taken by the people of this world that are separate from the spiritual warfare taking place and always escalating in intensity leading up to the appearance and rise to power of the Antichrist and his false prophet, and in large part his appearance and rise will be directly tied to him claiming to have the answers, the solutions to the woes of the people. And they will believe him. To the degree that they will have his name branded into their bodies as they worship him as a god.
Yes, dear ones, friends, foes, fellow believers, the unbelieving, the pagan, the reprobate — one and all — we’re hurtling towards that time and money, money, money, money, and investing, banking, the monetary economies of individuals and nations play a huge role in bringing about the appearance and rise to power of the Antichrist.
Tragically, few even now pay attention. Few believe. And most will choose to serve him as they now serve this world and Satan refusing the truth of God, the life only found in the Lord Jesus Christ, the truth imparted by the Holy Spirit and the inerrant infallibly living and active Word of God.
All monetary economies are built upon greed. Smoke and mirrors. Never satiated, never satisfied, ready willing, and able to destroy whoever or whatever may interfere with their insatiable accumulation of material wealth.
What is the root of all evil?
Is money bad? Certainly not, and no person on earth has what they have it isn’t really theirs without God Almighty providing it and making it possible. God provides material needs and wealth to people. God provides. Man is the one, the only one who corrupts, perverts and from their inherently evil natures continues to rebel against God and His blessings. Denying God as they plunder, lie, and are never satisfied.
And that is one reason massive crashes occur. The inherently evil nature within every man and woman, and yes, child, and they’re being not unlike the men who began building the Tower of Babel and all those throughout history vainly, foolishly imagining themselves to be gods not in need of the One True God!
Greater and greater economic woes and troubles lie ahead. Part and parcel of the swiftly coming Great Tribulation. It’s all related, all connected, and all within God’s Word to anyone willing to read, study, mediate upon — deeply think about what is read and studied — and believe. Thusly living accordingly.
You think things are shaky, worrisome, or bad now? Just wait. We haven’t seen anything yet because what is coming the likes of which the world has never witnessed nor ever will again. It’s going to be horrific beyond human comprehension. Not when the Antichrist and his false prophet appear in their grand, massive worldwide deception, the greatest deception ever played out upon the people of the world.
“For then there will be great tribulation, such as has not been from the beginning of the world until now, no, and never will be. And if those days had not been cut short, no human being would be saved. But for the sake of the elect those days will be cut short.”
Whoever believes in the Son has eternal life; whoever does not obey the Son shall not see life, but the wrath of God remains on him.
Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter!
Are you a denier, a hider, fearful though playing what is tragically called a game, appearing stoic, among the great actors and actresses of this fallen and lost world, or a true believer?
Ken Pullen, A CROOKED PATH, Thursday, March 16th, 2023
Credit Suisse is just the ‘tip of the iceberg’ as banking turmoil snarls financial markets, JPMorgan Asset Management investment chief says
Thursday, March 16, 2023
By Morgan Chittum
Reprinted from Markets Insider
- JPMorgan Asset Management’s CIO predicts more pain ahead for the banking sector and the economy.
- Turmoil at Credit Suisse is just the “tip of the iceberg,” JPMorgan’s Bob Michele told Bloomberg.
- Michele says a recession is “inevitable” as panic ripples through markets.
JPMorgan Asset Management Chief Investment Officer says the contagion that’s gripped the global banking sector has just begun as turmoil erupts at Credit Suisse on the heels of the largest US bank failure since 2008.
“You’re going to get those long and variable, cumulative and lagged impacts hitting the market further. I think this is the tip of the iceberg,” Bob Michele said on Bloomberg TV Wednesday.
Michele added: “I think there’s a lot more consolidation to come, a lot more pain yet to come.”
Credit Suisse shares shed as much as 30% on Wednesday as waning investor confidence in the bank was sparked by one of the bank’s largest shareholders stating that it would not lend any further financial support. Shares of Credit Suisse endured their largest single-day selloff Wednesday.
The volatility follows the collapse of Silicon Valley Bank, the second-largest US bank failure ever. Add that with the closure of Signature Bank by regulators and the wind down of Silvergate Bank, and investors are bracing for a full-blown crisis in the sector.
The JPMorgan exec says a recession is “inevitable” as panic ripples through the banking world, adding that the Federal Reserve will mostly likely pause interest rate hikes on concerns that the economy may be too fragile to handle even higher interest rates.
The market will go through a “washing out process” in the coming months, Michele says, adding that “we expect more problems.”
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