LDS Freedom Forum

While America basks in Obama, Europe quietly fell further apart over the week-end. On Martin Luther King Day, the British government announced more hundreds of billions to prop up banks and bad bets. Stocks in Barclay Bank fell to 25 percent in less than an hour. The largest, Royal Bank of Scotland, is already 80 percent owned by the government.

The same in Ireland. Both countries look close to nationalization of their banking system. Even some government officials wonder whether Britian itself faces either bankruptcy or a complete collapse of the British pound. Unthinkable stuff.

Jim Rogers, the famous expatriate American billionaire, says the big American banks are bankrupt themselves. Hardly anyone argues that point any more. The U.S. government tossed another 20 billion dollars to the Bank of America, and guaranteed more than a hundred billion dollars in worthless paper generated by the former Merrill Lynch. The world's largest bank, Citi Group, has lost more billions, and is splitting up into two.

At least a dozen countries, national governments, are close to bankruptcy. Not just former success stories like Iceland and Ireland. The credit rating of Spain has been downgraded. Italy may be technically bankrupt. The Balkans are a mess, as is most of Eastern Europe, right up to Latvia and Lithuania.

we're entering something this world has never seen before in terms of financial and economic turmoil.

kathyn wrote:Col. Flagg,

we're entering something this world has never seen before in terms of financial and economic turmoil.

I also believe that what we're going to experience pretty soon is unprecedented and no one knows what it will be like. I remember the stories my mom used to tell me about the Depression. I used to think that was awful, but it will seem downright cheery compared to what I see coming 'round the bend. People back then were fairly civil and decent, plus most people had some land so they could grow something. Few of us have the luxury of having much land and many people today have never had to go without entertainment and fun, let alone go hungry. We are a soft and spoiled people and it will get ugly really quickly. (Remember Katrina?)

pritchet1 wrote:You still have money in a bank? Some of us live on faith and not much else.

Expect the gadianton gangs to quickly fill in the power vacuum.

World War III is on the horizon. Can you see it?

SwissMrs&Pitchfire wrote:Don't think collapse so much as controlled and orderly shutdown. It won't happen quickly, but it will happen.

However, I've got an inkling the Lord wishes to remind a few people He's still in control. A slow shutdown benefits those who plan for totalitarianism, which could just as easily destroy the church. The Lord may pull a few supports out sooner than they plan, both to protect His people as well as to preach His sermon. I would not be surprised to see a support pulled this year.