March 16th, The Day that changed the world

On 16 March, everything changed. The European Central Bank (ECB), the International Monetary Fund (IMF), and the German government led by Angela Merkel forced the Cyprus leadership to cross a line that can never be forgotten: Unauthorized withdrawals from bank deposits. This amounts to confiscation, initially set at 6.75%  if your account was less than 100,000 Euros ($128,000 USD) or 9.90% if over the threshold.

Who should have taken a “haircut”?  Answer: Shareholders, Creditors, and Bondholders, not the holders of deposit accounts in debt-ridden banks. They thought it would be much easier to rob the depositors in Cyprus ( including Russian mobsters using the banks as a tax haven) than it is to extract money from the Germans and other Northern Members of the EU.

Angela Merkel, the IMF and the ECB  can never put the genie back in the bottle.  The 17 member states of the Eurogroup took the unforgivable action and they will do it again: all Europeans must realize they are the target of a financial policy determined to rob them of the fruits of their labors on the pretext of balancing the books.

Do you think they made this decision independent of the Federal Reserve Bank?  I doubt it.  Do you think this was a test case for future action?  Absolutely.  There is not enough “printed” money in the world to reconcile the books of all the technically insolvent banks around the globe.  Only additional money printing and confiscation could relieve the liability pressure of the current system.  Excessive money printing could destroy the confidence in the current system.  With the continued missteps by the powers that be, it seems that is exactly where we are heading.  This is not surprising to Our Heavenly Father.  HE will raise a remnant at the appropriate time to bring forth righteousness and expose the lawlessness with the Light of HIS Word.  It will be first death of the system, then resurrection of the saints and glorification of the remnant.  Yes my friends, the tomb IS empty!

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