Friday 27 September 2013

ANOTHER WND EXCLUSIVE - "GOVERNMENTS STEALING FROM BANK ACCOUNTS"!!

WASHINGTON – The questionable practice of “bail-ins” begun by Cyprus a year ago to keep banks solvent is beginning to spread to other nations, and holders of large deposits are starting to see their balances plunge literally overnight.
A “bail-in,” as opposed to a bailout that countries especially in Europe have been seeking from the International Monetary Fund and the European Union, is a recognition that such outside monetary injections won’t be forthcoming.
Consequently, banks have been seeking money from another source – their large depositors. The funds are simply taken and applied to a bank’s recapitalization in lieu of government bailouts.
The practice essentially is a transfer from a personal savings account to the bank’s operating account, without the customers’ permission or even any notice.
The example set in Cyprus when the island nation confronted its financial crisis now is spreading to such other countries as Italy, Poland, New Zealand and now Canada.
Financial experts agree that the practice soon could spread to the United States.
The “bail-in” a year ago in Cyprus developed after the island nation was refused further outside financing from the IMF and the European Central Bank of the EU, of which the Mediterranean island is a member.
Cyprus never was looked upon as a place to spend money. Instead, it was seen more as a place to safely hide large deposits of cash for private individuals and companies not only in Europe and Russia but for major shareholders and top executives from all over the world.
Hiding huge sums of cash was made easy in Cyprus with such mechanisms as outright bank deposits, shell companies and holding companies, with massive transfers taking place between them.
“Cyprus was a leader – in some circles and for some applications, the leader – in quiet storage, management and structuring of exceptionally large sums for private individuals and corporations all over the world,” financial expert Franklin Raff wrote in a March 2013 WND article.
“Cypriots were fast learners in the fields of global asset protection and ‘tax optimization,’” Raff said. “Cyprus’ 2004 entrance into the E.U. gave financial operations a deeper veneer of legitimacy and security.
“All of this meant almost a decade of rapidly expanding business,” he said. “This was surely from Europeans and Russians wary of unpredictable tax laws and indiscriminate, extralegal confiscations, but also from entities in North America and elsewhere.”
Because a long line of EU banks had been bailed out at major public expense during the 2008-2009 financial crisis, the EU decided to turn down two of Cyprus’ major banks, Laiki and the Bank of Cyprus, for similar help.
In an effort to save the Cypriot economy from collapse, the government passed a law that took some 4.3 billion euros in deposits belonging to some 14,000 depositors just in the Laiki bank alone, leaving each depositor with no more than 100,000 euros, the limit on deposit insurance under EU regulations.
Ultimately, Laiki bank folded, with depositors’ diminished assets transferred to the Bank of Cyprus.
In an effort to recapitalize the Bank of Cyprus, Cypriot officials imposed a 47.5 percent loss on deposits exceeding the 100,000 euro limit, exchanging the seized deposits for shares in the bank.
Depositors in Cyprus lost an estimated total of 10.6 billion euros.
In viewing the recapitalization experience in Cyprus, financial experts say “bail-ins” are increasingly becoming accepted practice around the world due to the lack of any outside bailouts.
In jeopardy will be all private bank accounts and private pension funds.
Financial sources say that the government of Poland just “raided” private pension funds in an effort to reduce the size of the government debt.
According to a Reuters report, the Polish government will transfer to the state many of the assets held by private pension funds, slashing public debt but putting in doubt the future of the multi-billion-euro funds, much of which is foreign-owned.
“The Polish government is doing the best that it can to make this sound like some sort of complicated legal maneuver, but the truth is that what they have done is stolen private assets without giving any compensation in return,” said financial expert Michael Snyder writing for the Financial Collapse blog.
Now, finance ministers in the EU are undertaking a similar approach.
They have approved a plan to force bondholders and shareholders to finance future bank failures before going to taxpayers for bailouts.
This will apply to bondholders and shareholders with deposits over 100,000 euros. Those with less than 100,000 euros of insured deposits will be protected.
“What this means is that if you have over 100,000 euros in a bank account in Europe, you could lose every single bit of the unprotected amount if your bank collapses,” Snyder said.
Italy also is organizing a form of its own “bail-in” for the country’s oldest bank as it has halted any further interest payments and doesn’t intend to make up for the missed payments if and when they resume.
While deposits will remain untouched for now, financial experts believe it will only be a matter of time before its depositors experience a Cypriot-type “bail-in.”
In Canada, the government has actually written a “bail-in” provision into its new government budget proposal in its “Economic Action Plan 2013.”
“This new budget actually proposes to implement a ‘bail-in’ regime for systemically important banks’ in Canada,” Snyder said.
Snyder believes that governments throughout the world will be eyeing depositors’ money as part of the solution to halt future failures of major banks.
“As a result, there is no longer any truly ‘safe’ place to put your money,” Snyder said.
“One of the best ways to protect yourself is to spread your money around,” he said. “In other words, don’t put all of your eggs in one basket. If you have your money in a bunch of different places, it is going to be much harder for the government to grab it all.
“But if you don’t listen to the warnings and you continue to keep all of your wealth in one giant pile somewhere, don’t be surprised when you get wiped out in a single moment someday,” he added.
That certainly was the experience of the Andrew Georgiou family in Cyprus earlier this year. Literally overnight, his life’s savings of 750,000 euros, except for 100,000 euros which were covered by deposit insurance, were wiped out. Georgiou subsequently had a heart attack, though he survived.
He, like hundreds of other depositors in Cyprus, has gone to court against the central bank and the Cypriot government, but the outcome is far from certain.

Read more at http://www.wnd.com/2013/09/governments-coming-to-steal-savings-accounts/#VdhHYoSkK4zS388K.99

Thursday 26 September 2013

THE END TIME "WATCHMAN" WITH A VERY INTERESTING ARTICLE ON WARFARE, EMP GRENADES, AND NUCLEAR BOMBS!!

Old fashioned wars using the Millo and siege ramps, and future wars using EMP grenades and nuclear bombs

I am reading through 1 Kings and in chapter 9 and then chapter 11 and a mysterious thing called "the Millo" is mentioned. Here are two verses which mention the Millo, though certainly not the only verses in the only books of the Old Testament which mention this structure.

"And this is the account of the forced labor that King Solomon drafted to build the house of the Lord and his own house and the Millo and the wall of Jerusalem and Hazor and Megiddo and Gezer" (1 Kings 9:15)

"And this was the reason why he lifted up his hand against the king. Solomon built the Millo, and closed up the breach of the city of David his father." (1 Kings 11:27)

Other times the Millo is mentioned (and it is always the Millo) are 2 Samuel 5:91 Chronicles 11:8 and 2 Chronicles 32:5.

The context of the mentions is always in a militaristic context, so the Millo seems to be something like a wall or a fortress, or a defense structure of some kind. It is not THE wall, because the Millo is mentioned separately from the wall in the 1 Kings 9 verse. This article abstract from Biblical Archaeology Society explains:

Scholars’ Corner: Has Jerusalem’s Millo Been Found?
"One of the puzzles British archaeologist Kathleen Kenyon solved during her Jerusalem excavations of 1961–1967 was the meaning of the untranslatable Biblical word Millo. Or did she? On the steep eastern slope of the city of David (or Ophel), the site of the original city of Jerusalem south of the Temple Mount, Kenyon uncovered tier upon tier of architectural terracing buried beneath an avalanche of stone and debris. Kenyon identified this terracing, which had supported buildings of the city located on the slope, as the Millo of the Bible: “And David dwelt in the stronghold, and called it the city of David. And David built the city round about from the Millo inward” (2 Samuel 5:9). The Millo is also mentioned in 1 Kings 9:152411:271 Chronicles 11:8 and in 2 Chronicles 32:5. Etymologically, Millo is related to a root meaning “filling,” and here there was filling aplenty. Moreover, we know from the Bible that the Millo was located in Jerusalem and had to be repaired from time to time."

Here is a photo from Jerusalem 101 website which shows the wall Kenyon uncovered which they believe was part of the Millo mentioned in the Old Testament.

source

Interesting, isn't it?!

I really enjoy the military aspects of the bible. The battle strategies, the terms for weapons and defense. I did a blog essay on bucklers once. You know, the verse where it says "Take up the shield and buckler"? (Psalm 35:2)
For full article, please go to: http://the-end-time.blogspot.co.uk/2013/09/old-fashioned-wars-using-millo-and.html

THE HUGE FINANCIAL CRASH DRAWS EVER NEARER!! BUT THIS TIME IT WILL BE THE BIGGEST ONE THE WORLD HAS EVER SEEN!!

The Greatest Debt Crisis The World Has Ever Seen Is Coming 



The largest mountain of debt in the history of the world just continues to grow even larger, and everyone knows that this colossal debt spiral is not going to end well.

But we all keep playing along because nobody wants the party to end. Right now, there is an unprecedented ocean of red ink covering the planet. Globally, governments have never been in so much debt, corporations have never been in so much debt and consumers have never been in so much debt.
But every time someone suggests that this is a problem and that we should at least try to get debt levels to settle down a bit, people start screaming that “austerity” will hurt the global economy.

And of course it will. But we can’t continue to live way, way above our means indefinitely. Well, we can try, but at some point this entire house of cards is going to come crashing down and we are going to be facing the greatest economic crisis the world has ever seen.

It is kind of like watching a slow-motion train wreck that you have no chance of possibly stopping that you know will end up killing lots of innocent people.

This debt crisis is going to end up destroying the global financial system, but there is not a thing that you or I can do to prevent it from happening.

The unprecedented debt binge that we are witnessing right now is going to continue until someday we hit a brick wall of financial disaster. We can yell and we can scream, but it isn’t going to stop what is happening.

As the Telegraph recently noted, even the Bank for International Settlements is warning that debt levels are way too high. According to the BIS, total public and private debt levels are now 30 percent higher than they were in 2008…

“This looks like to me like 2007 all over again, but even worse,” said William White, the BIS’s former chief economist, famous for flagging the wild behavior in the debt markets before the global storm hit in 2008.

“All the previous imbalances are still there. Total public and private debt levels are 30pc higher as a share of GDP in the advanced economies than they were then, and we have added a whole new problem with bubbles in emerging markets that are ending in a boom-bust cycle,” said Mr White, now chairman of the OECD’s Economic Development and Review Committee.

The BIS can see the disaster coming, but even they have no chance of preventing it.

For the rest of this article, I am going to focus on government debt, but please keep in mind that corporate debt and consumer debt are also totally out of control globally. It would be very hard to overstate the nightmare that we are facing.

But of course national governments are the biggest offenders when it comes to debt…

Asia

Japan now has a debt to GDP ratio of more than 211 percent, and as Simon Black of the Sovereign Man blog recently detailed, they are rapidly heading toward a national financial meltdown…

Looking purely at the numbers, Japan’s medium-term fundamentals are among the bleakest in the world.

Total government debt amounts to over 200% of the country’s entire GDP– a figure so large that the Japanese government spends 51.5% of the 43 trillion yen ($430 billion) they collect in tax revenue just to pay interest!

Perhaps even more astounding is that ‘primary balance expenses,’ i.e. normal government expenditures, totaled 70.3 trillion yen, or 163% of tax revenue.

The only way they’ve managed to stay afloat is by issuing more debt, which makes the problem even worse. In fact, 46% of the 2013 budget is being financed by debt.

These guys are running out of rope. And fast.

China is facing a different sort of a problem. In that nation, the growth of private domestic debt is wildly out of control.

According to a recent World Bank report, private domestic debt in China has grown from 9 trillion dollars in 2008 to 23 trillion dollars today.

There is no way that is sustainable, and at some point that massive bubble is going to burst.

Europe

Even though some European nations have supposedly implemented “austerity measures” in recent years, debt levels continue to rise rapidly.

The following are some numbers that were recently released which show that government debt to GDP ratios for some of the most financially troubled nations in Europe are absolutely soaring…

•Euroarea: 92.2%, up from 88.2% a year ago

•Greece: 160.5%, up from 136.5% a year ago

•Italy: 130.3%; up from 123.8% a year ago

•Portugal: 127.2%, up from 112.3% a year ago

•Ireland: 125.1%, up from 106.8% a year ago

•Spain: 88.2%, up from 73.0% a year ago

•Netherlands: 72.0%, up from 66.7% a year ago

Anyone that tells you that the crisis in Europe is “over” is lying to you. The debt crisis is getting worse, not better.

The United States

The biggest mountain of debt of all can be found in the United States.

30 years ago, the national debt was a little bit above a trillion dollars.

Today, it is rapidly approaching 17 trillion dollars.

At this point, the U.S. already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain. And since Barack Obama entered the White House, the debt to GDP level has soared to unprecedented heights…

Sadly, this is just the beginning.

One reason for this is that the U.S. is facing some tremendous demographic challenges in the years ahead.

In other words, our population is getting older.

It is being projected that the number of Americans on Social Security will rise from 57 million today to more than 100 million in 25 years.

How in the world are we possibly going to pay for that?

Already, we are very heavily dependent on foreigners to pay our bills.

According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt at this point.

China and Russia account for about one-fourth of that total. Right now, China owns approximately 1.275 trillion dollars of our debt, and Russia owns approximately 138 billion dollars of our debt.

So what would happen if we went to war with Syria and they decided to quit borrowing from us and they started dumping our debt instead?

That is a very good question.

And actually, according to Zero Hedge foreigners have already started to dump a little bit of our debt…

Today’s TIC data showed something disturbing: for the fourth month in a row, foreigners were net sellers of US Treasury paper in July, as total foreign holdings declined from $5.600 trillion to $5.590 trillion which represents 49% of total marketable debt (including the debt owned by the Fed of course).

In other words, since peaking at $5.724 trillion in March, foreign-held debt has declined by $134 trillion, at a time when yields have surged on fears the Fed’s tapering of its own purchases of bonds will mean less Fed frontrunning opportunities.

We certainly cannot afford for that to continue, because we desperately need other nations to finance our reckless spending.

Our debt is wildly out of control, and the only way we can keep the entire system from collapsing is to go into even more debt.

As I noted recently, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.

That is a whole lot of money.

But most Americans do not consider it to be a problem because disaster has not struck yet.

Unfortunately, they simply don’t understand how quickly an exponential problem can overwhelm you. I think that the following illustration from Simon Black is particularly helpful…

Let’s say you’re at a party in a small apartment that’s about 500 square feet in size. Then suddenly, at 11pm, a pipe bursts, starting a trickle into the living room.

Aside from the petty annoyance, would you feel like you were in danger? Probably not. This is a linear problem– the rate at which the water is leaking is more or less constant, so the guests can keep partying through the night without worry.

But let’s assume that it’s an exponential leak.

At first, there’s just one drop of water. But each minute, the rate doubles. So by 11:01pm, there’s 2 drops. By 11:02, 4 drops. And so forth.

By 11:27pm, there’s only six inches of standing water. Yet by 11:31pm, just four minutes later, the entire room is under nearly 8 feet of water. And the party’s over.

For nearly half an hour, it all seemed safe and manageable. People had all the time in the world to leave, right up until the bitter end. 11:27, 11:28, 11:29. Then it all went from benign to deadly in a matter of minutes.

By the time that our politicians and the talking heads on the mainstream media admit that we have a debt emergency on our hands, it will probably be far, far too late.

The greatest debt crisis the world has ever seen is coming, and there is nothing that anyone can do to stop it.

Read more at http://www.prophecynewswatch.com/2013/September25/251.html#tqVYtGCqKvzOcRP0.99

Tuesday 24 September 2013

SECOND IDF SOLDIER MURDERED IN THREE DAYS AFTER HEBRON SHOOTING - PLUS MORE ACCOUNTS FROM OUR FRIENDS IN JERUSALEM!

Watch Now: You’re Invited: Feast Of Tabernacles 2013


BACK HOME NOW FROM THE USA. VERY GOOD WEEKEND IN LONDON AND THE SOUTH EAST. NOW FOR SOME MINISTRY IN THE NORTH. PLEASE COME ALONG AND SEE ME IF YOU CAN.

Dear Friends,

We finally arrived home last Thursday after two weeks of "rest" with family and friends in the States. I say "rest" euphemistically as the weather was very hot and humid, and having to deal with six children all under the age of seven, did nothing for my recent stress and blood pressure problems!

However, I survived! It is always good to come back home, and I am looking forward to resuming my ministry for the Lord. I have heard from the Lord to give me peace in this current very stressful situation, and also have been given an inside view of some of the lives of those who are attacking! So, I am fine dear friends,  but I must be ready for some doors to close to my ministry, as some believers seem to accept "the truth" of my accusers without having tested the evidence in all of its fullness! 

We were home for little more than 24 hours before we departed for a very busy weekend in London and the South East. We first of all took a splendid meeting at the Hephzbah Fellowship in Marlow, Bucks, hosted by our good friends Trevor and Maggie Stewart-Sweet who kindly offered us excellent accommodation and fellowship for the weekend. It was a fine time of ministry, fellowship, fun, and friendship and a good time seemed to be had by all.

On the Saturday we were hosted by our good friend Sally Richardson from London who laid on the meetings for us at the All Souls Church Clubhouse in Cleveland Street, London, where I spoke on "THE IMMEDIATE PROSPECTS FOR MANKIND IN THE LIGHT OF BIBLE PROPHECY". We had a very good attendance, and it was good to hear of the blessings received by chatting to the supporters and attendees at this conference.

The third segment of our long weekend took us to the Chartridge Mission Church in Chesham, Bucks for both the morning and evening services on the Sunday, and it was good to join in with this lovely fellowship.

Many thanks for your prayerful support for these meetings, which we believe brought praise and glory to the name of our great God and Saviour, the Lord Jesus Christ. Please continue to pray for us as a family, as we are still under Satanic attack from surprising so-called "Christian" circles, and also for the upcoming meetings which you will find listed below. 

Maranatha Blessings,

Brian and Gilly.

Friday 20 September 2013

HERE IS A CHAPTER FROM MY BOOKLET ON "THE MYSTERY OF INIQUITY REVEALED"....AND VERY APT FOR TODAY!!!

THE MYSTERY OF INIQUITY REVEALED, BY BRIAN GEMMELL.

The generation which has observed the post WW2 world has seen, amongst many changes, the shrinking of the planet to become the "Global Village" and the accelerating growth of the phenomena we call globalism. As mankind has been propelled together by warfare, pulled closer through huge developments technologically and politically manoevered and deceived into monetary and political unions, the pace of "one worldism" has increased exponentially and a single World Government looms near. The World Wide Web ties everything together and facilitates instant communication at all levels, from the domestic chatter of families spread abroad, to the secret signals of clandestine Intelligence outfits or Terrorist organisations. As far as the Internet is concerned the world is one place.

The words "Multinational Corporations",which were unknown during our childhood, are now common currency in all languages. And the organisations they represent own most of the worlds large commercial trading enterprises. Furthermore, these Corporations, linked with International Banks, have structures of ownership and control whose tentacles reach right down to the High St. and often share a common denominator in their institutional shareholders. Ownership of these shares is truly international with the Chinese Government, Middle and Far East interests taking ever higher stakes. From McDonalds to Rio Tinto mining the same companies operate within, and influence the governments of, many countries of the world. 
But it is not only the fields of commerce, finance and banking which have been internationalised. Charities and the Voluntary Sector, Non Government Organisations, Media, the Arts and even Sport now operate on an international level. The Olympics and the "World Cup" immediately come to mind, but from golf to tennis and Formula One to Ping Pong, sporting endeavours transcend borders. The soccer "industry" sees an international pool of players; long gone are the days when a local club was filled with the players born and bred within the city environs. The mind of the population is slowlly and subtly seduced towards a borderless world just as George Soros 's "Open Societies" organisation desires.

It appears to be that there has been a deliberaetly constructed policy to have nations INTERdependant on one another for resources. Despite huge tonnages of unmined coal in the UK most of our supplies are now imported. Much of the manufacturing of the UK, and increasingly also the USA, has been shipped East, with China having the lions share. Britain holds  major power when it comes to the Financial Services and London is becoming a centre for large financial transactions conducted under muslim Sharia Law. No one nation can survive alone, independent and self-sufficient. All must be party to regional trading and supply arrangements and these are subject to centralised global control, or, at least, the significant influence of internationalists. The International Monetary Fund, World Bank, the Eurozone and the G20 etc combine to exert a controlling influence ot the monetary and fiscal policies of the majority of nations the world over. 

We are seeing the active final preparations for a united yet diversified world, ready for a closing "crisis event" which will be used to usher in the new order of global fiance and governance , producing a single president, a "Captain" capable of solving humanities crises and giving the desparately sought leadership. The Global Elite sees Utopia within their grasp....the kingdom of God but excluding God, His Son, His Word and His righteousness.. A prosperous, peaceful Global Governance based on humanism is their goal. And it always has been as successive generations of so-called illuminated leaders and opinion formers have passed on their Godless vision from the days of Adam Weishaupt the 18th century founder of the Order of Illuminati. (for more information check him on Wikipedia) What Bible scholars know as the reign of the Lawless One, the Man of Sin, "that Wicked", the Anti-christ has never been more likely than in our immediate future. The mystery of iniquity, that was already at work when the Apostle Paul penned the second letter to the Thessalonians has, after two more millennia of covert operations, come to the point where the enemy of God and His people can brazenly display his intent and bring his nefarious plans to a creschendo.

So what of the immediate future? The relentless and irrevocable stampede towards a sustainable world under a single sovereignty, controlled by a sole all-powerful leader, will undoubtedly continue. The circle of technological development further facilitating global unity, which in turn stimulates new technology, will also continue to revolve. Scientific progress which is now uninhibited by a Godly morality and the limitations of Biblical behaviour, will take man into unknown and dangerous spheres from which YHWH has protected His creation since Babel. 

The realm of transhuman development, combining the human DNA with that of other species and even plant life, in total disobedience to Genesis 1:"according to its kind",will escalate. The final outcome of this is likely to parallel the Genesis 6 Nephilim and will warrant, and receive, final Divine judgement. No doubt the Large Hadron Collider on the Franco-Swiss border will feature highly in these last days. This international project [CERN], the largest piece of scientific equipment of all time costing approximately £7 billion, was dedicated to the Hindu deity Shiva in 2004 and a large statue of it is outside the main buildings. Although presented as the lord of the dance of creation, Shiva is in fact the god of destruction known in Hebrew as Abaddon and Greek as Appolyon. Compare this with Revelation 9:1-12 and comments from CERN officials about encountering the unknown and "this is where science ends and religion and philosophy begin" take on a different meaning. Gods injunction in Genesis 11: "...now nothing they propose to do will be witheld from them. Come, let Us go down and there confuse their language....." was essentially for mans benefit. The unity of thought and word which God has allowed in these days will bring man and Lucifers rebellion to a final head and ensuing judgement will be unavoidable. The sin of the global "Amorites" will be full and complete [Genesis 15:16] and their removal is inevitable. We are on the very edge of the Tribulation time.

The current tensions and uncertainty in the Middle East both internally in Arab States and between Israel and her Ishmaelite neighbours, Iran and the wider muslim world will shape the next series of prophetic events and may be the trigger mechanism which initiates the conflagration ushering the final detailed stages of World Government. 

The future roadmap for the believer is the Word of God. However events shape up in the world, our security rests in the faithfulness, love and care of our wonderful Triune God and His eternal promises..."I will never leave you or forsake you", Deuteronomy 13:6 and Hebrews 13:5. 

LOOK UP YOUR REDEMPTION DRAWS NEAR......MARANATHA.

Brian .

THE DOLLAR IS ABOUT TO LOSE ITS PLACE AS THE WORLD'S NUMBER ONE CURRENCY! GOOD ARTICLE FOR YOU TO READ HERE.

Ned Goodman:The dollar is about to be dethroned as the world's de facto currency (Video)

 

See also

September 18, 2013
 
On Sept. 15, Canadian billionaire Ned Goodman spoke at the Cambridge House regarding the U.S. dollar, and the state of the Western economies. In his nearly eight minute speech, the 75 year old CEO of Dundee Capital Markets and Chancellor of Brock University painted a picture of the upcoming change in reserve currencycontrol by the U.S., and how the dollar will soon be replaced as nations around the world rush to get rid of their currency reserves.
Ned Goodman: In my view, the dollar is about to become dethroned as the world's de facto currency. I'll tell you how I came to that conclusion so quickly... the new President of China, Xi Jinping, his first visit on the day of his becoming President, was at his request to meet with Mr. Putin. And he immediately made a deal with Mr. Putin to get all the oil that he needs, which he can buy in Renminbi.
We're headed to a period of stagflation, maybe serious inflation, but stagflation for sure, and the United States will be losing the privilege to print at its will, the world's reserve currency. A period that's going to be very inflationary, and I can tell you that before that happens, it is likely that it is going to get quite ugly. - Ned Goodman, Cambridge House
Goodman's assessment falls in line with astory we broke on Examiner over a year ago, where details of the oil agreement between Russia and China were provided to a source by officers within the oil industry. Besides being able to purchase oil using a currency other than the U.S. dollar, China began to wholesale Russian oil to countries around the world, including Iran who even today remains under UN sanctions.
In the wake of the banking crisis of 2008, the world has quickly begun moving away from U.S. dollars, and into trade agreements which bypass the reserve currency and SWIFT systems. In 2008, Chinese Yuan made up 0% of all international transactions, but in the five years since, the Asian currency is now involved in 12% of all global trade.
The death of the dollar, and its removal as the world's reserve currency, is no longer a conspiracy, or dreamed outcome by most of the financial world, and instead is an expected reality for the near future. When that day comes is a guess most analysts cannot predict, but in light of how Russia and other nations rejected the U.S. in their desire to chastise Syria last week, the fear of dollar hegemony no longer carries any real weight to it. And like the Suez Canal event in the 1950's, which saw the end of Britain as a global superpower, so too may the events of Syria spell the end of America's domination over the global economy.