Saturday, October 18, 2008

European Leaders are Lobbying Bush to Hold a Financial Summit

Curt Here....

The current European leaders are lobbying President Bush to hold a global financial summit in which the rules of international finance are completely rewritten. These European leaders are using the excuse of the current economic crisis as their reasoning as to why this must occur. The real interesting part of all this, is that President Bush's term is ending very soon, and the next president of the US is going to have to deal with this issue. Those of us who are prophecy watchers have to realize what is really going on here. It is without a doubt a global economic power grab by the EU, plan and simple. Is the next American administration going to fight this power grab or embrace it?

Who says elections don't matter?

This is a very important article and very telling as to where we are heading, please take the time to read it.

I would also encourage all to watch this news video where the reporter clearly says "the EU wants to present a blueprint for a worldwide currency system." It is about 58 seconds in. Things are happening fast people.

2/16/09: Updated link below as above is not working anymore.



Bush plans to host world powers at economic summit

CAMP DAVID, Md. – President Bush, who is being pressed by European leaders to sign on to global financial market reform, will host a summit of nations in the near future to discuss the economic crisis that has shaken markets around the world, a senior administration official said Saturday.

Word of the impending announcement came at Camp David where European leaders are lobbying Bush to hold a summit by year's end.

The summit will focus on ideas to prevent a crisis from recurring and to preserve the free market system, said the Bush administration official, who spoke on condition of anonymity because the announcement has not yet been made. Bush is not expected to announce a date or site for the event.

French President Nicolas Sarkozy and European Commission President Jose Manual Barroso are trying to convince Bush that now is a good opportunity to tighten and better coordinate control of the financial markets, in response to the credit crisis.

The president has backed the steps European nations have taken to stem the downturn, and wants the summit to include the Group of Eight industrialized powers plus other emerging economies like China and India. The White House says Bush, who has just three months left in office, wants to listen to a broad range of ideas, not just from Europe, but from Asia and developing countries.

But the U.S. hasn't signed on to the more ambitious, broad-stroke revisions that some European leaders like Sarkozy have in mind for the world financial system. And with only three months left in office, reforming the global financial system likely will fall to his successor. It's unclear if the summit will be before or after the U.S. presidential election and whether the candidates, their representatives or the winner would attend.

Sarkozy and Barroso were stopping at Camp David to meet with Bush on their way home from a summit of French-speaking nations in Quebec City, Canada.

At the summit, U.N. Secretary General Ban Ki-moon offered Saturday to host an emergency G8 summit at New York's United Nations Secretariat to discuss the global financial crisis. Ban issued a statement backing Sarkozy's appeal to act aggressively and collectively to address the economic meltdown at a summit of the world's most influential nations by December.

"I strongly believe that holding the summit at the United Nations, the symbol of multilateralism, will lend universal legitimacy to this endeavor and demonstrate a collective will to face this serious global challenge," said Ban.

On Friday, Sarkozy repeated his call to overhaul the global financial system so that it can be better supervised in the wake of the crisis.

"Together we need to rebuild a capitalism that is more respectful to man, more respectful to the planet, more respectful to future generations and be finished with a capitalism obsessed by the frantic search for short-term profit," Sarkozy said

Sarkozy has floated the idea of reforming rating agencies and even exploring the future of currency systems. British Prime Minister Gordon Brown, who engineered a British bank bailout that inspired U.S. and European rescues, is proposing radical changes to the global capitalist system, including a cross-border mechanism to monitor the world's 30 biggest financial institutions.

In his weekly radio address, Bush on Saturday sought to reassure Americans about the cost and scope of the nation's financial bailout plan and said that in the long run "our economy will bounce back." He acknowledged that people are concerned about their finances and, while he offered assurances about an eventual recovery, he did not say when that would happen.

Since Oct. 9, 2007, when the Dow topped 14,000, investors have lost $8.3 trillion from pension funds, college savings plans, 401(k)s and other investments. Congress gave Bush a $700 billion plan to buy bad assets from banks and other institutions to shore up the financial industry.

"The federal government has responded to this crisis with systematic and aggressive measures to protect the financial security of the American people," Bush said in the radio broadcast.

"These actions will take more time to have their full impact. But they are big enough and bold enough to work."

Sunday, October 12, 2008

European Leaders Seek `One Voice' to Counter Crisis

Curt Here...

Europe is seeking one voice to counter the current economic crisis. This latest headline should catch our attention, because we know that some day, and it appears that some day soon, Europe will speak with one voice and one man will be in charge.

The ultimate goal of this man will be to make war with the Saints.

Keep looking up.

Stay tuned



Oct. 12 (Bloomberg) -- European leaders met to forge a new set of measures to combat the credit freeze after their failure to act a week ago contributed to the worst sell-off in the region's stocks in two decades.

``I want Europe to speak with one voice for Europe and for the world because this is a global crisis,'' French President Nicolas Sarkozy told reporters as he greeted European Commission President Jose Manuel Barroso at the Elysee Palace in Paris. Sarkozy said he's seeking ``an ambitious, coordinated plan.''

German Chancellor Angela Merkel, whose government earlier this month rejected French suggestions to form a joint bank- rescue fund, said yesterday the euro region will implement ``the same toolbox of instruments.'' Merkel, Sarkozy and their counterparts in the 15-nation euro region are being forced to shift stance as a deepening slide in financial markets has threatened to tip Europe into a prolonged recession.

``Measures by euro-area governments to end the financial crisis have been uncoordinated and insufficient,'' said Juergen Michels, a Citigroup Inc. economist in London. ``Increasing risks of an economic disaster might force governments to set up more coordinated and more comprehensive measures.''

U.K. Prime Minister Gordon Brown met Sarkozy, Barroso and European Central Bank President Jean-Claude Trichet. The leaders of the euro nations then gathered at 5 p.m. local time. The talks come after finance chiefs from the Group of Seven nations established guidelines on Oct. 10 for combating the credit crunch, while falling short of adopting new initiatives.

For more click the link...

Friday, October 10, 2008

Berlusconi Says Leaders May Close World's Markets

Curt Here....

Sorry for my absence, but it is very nice to be back posting on this blog. I wish I had better news to be talking about, but sadly I don't.

If you have at all been paying attention then you realize that the global financial world is in complete chaos. Governments from across the globe have been trying for several weeks now to halt the world wide stock sell off. Nothing has worked as we slowly but surely creep towards financial disaster.

The newest idea that seems to be breaking this morning is a complete and total shut down of all world markets as the global powers that be rewrite the rules of the international financial world. This is about the scariest idea that I have heard yet, and without a doubt has extreme prophetic implications.

You see, I have often wondered, how do we get to the point in human history where people willingly accept the Mark of the Beast and then turn around and worship the beast as if he is god. I understand some of the new age groups out there that have been waiting for this "savior" to appear on the world scene, but I could never understand how "normal" people get to that point. I know a lot of people that are not at all religious, and have no interest in religion of any kind. What makes these people take the Mark and worship the AC? After watching the current financial mess unfold, I think I have found the answer and I believe it is fear. Fear is what is going to drive these end times and the AC will appear to have an answer to all these fears. I think this current economic situation sheds light on where the world is heading.

The good news for us believers is that we should not have fear, but hope. Christ is our hope and because of His work on the cross for our sins, we will soon be with Him. This is good news and should not scare us but excite us.

Yes, it is going to get very bumpy and soon there will come a day when we will be forced to decide who's side we are on, but do not lose heart because Jesus is coming soon. So keep looking up and keep your eye on the prize.

Stay tuned.


Berlusconi Says Leaders May Close World's Markets (Update1)
By Steve Scherer

Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''

The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.

Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.