Sabbath 2/4/34/120

Dear Friends,

God has promised what is to befall Israel in the last days. God remembers their evil deeds and requites them on their own heads.

Hosea 7:1-16
[1] when I would heal Israel, the corruption of E'phraim is revealed, and the wicked deeds of Sama'ria; for they deal falsely, the thief breaks in, and the bandits raid without. [2] But they do not consider that I remember all their evil works. Now their deeds encompass them, they are before my face. [3] By their wickedness they make the king glad, and the princes by their treachery. [4] They are all adulterers;  they are like a heated oven, whose baker ceases to stir the fire, from the kneading of the dough until it is leavened. [5] On the day of our king the princes became sick with the heat of wine; he stretched out his hand with mockers. [6] For like an oven their hearts burn with intrigue; all night their anger smolders; in the morning it blazes like a flaming fire. [7] All of them are hot as an oven, and they devour their rulers. All their kings have fallen; and none of them calls upon me. [8] E'phraim mixes himself with the peoples; E'phraim is a cake not turned. [9] Aliens devour his strength, and he knows it not; gray hairs are sprinkled upon him, and he knows it not. [10] The pride of Israel witnesses against him; yet they do not return to the LORD their God, nor seek him, for all this. [11] E'phraim is like a dove, silly and without sense, calling to Egypt, going to Assyria. [12] As they go, I will spread over them my net; I will bring them down like birds of the air; I will chastise them for their wicked deeds. [13] Woe to them, for they have strayed from me! Destruction to them, for they have rebelled against me! I would redeem them, but they speak lies against me. [14] They do not cry to me from the heart, but they wail upon their beds; for grain and wine they gash themselves, they rebel against me. [15] Although I trained and strengthened their arms, yet they devise evil against me. [16] They turn to Ba'al; they are like a treacherous bow, their princes shall fall by the sword because of the insolence of their tongue. This shall be their derision in the land of Egypt.

We are an aging populace with a female population that murders its young and the aliens devour our wealth and strength. 83% of Australian mining operations are owned by foreigners.

Our nations are in poverty. 50% of the Greek populations are Semitic of the sons of Abraham and they owe 142% of GDP.

These are some facts that should wake us up. Europe is in a great mess and the US is as bad.

According to CNN reports- Fourteen out of 27 countries in the European Union had public debt exceeding 60% of their gross domestic product at the end of 2010, according to official statistics. The report by Eurostat, the statistical office of the European Union, showed that the ratio of government debt to GDP across all 27 member states increased from 74.4% in 2009 to 80.0% in 2010.

“For the 17 euro zone countries, the debt is even higher, increasing from 79.3% in 2009 to 85.1% last year.

Topping the European debt league is Greece with 142.8% government debt to GDP ratio, followed by Italy (119.0%), Belgium (96.8%) Ireland (96.2%), Portugal (93.0%), Germany (83.2%), France (81.7%) Hungary (80.2%) and the United Kingdom (80.0%).

The lowest government debt to GDP ratios were recorded in Estonia (6.6%), Bulgaria (16.2%) and Luxembourg (18.4%), according to the Eurostat report.

Under the Stability and growth pact, agreed when the euro began in 1999, member states are supposed to ensure their debt does not exceed 60% of their GDP.”
Anatole Kaletsky, writing for The Times June 30, 2011 12:00AM says there are two possible solutions for the Greek crisis.

“The first solution would be for Greece to default on its debts and leave the euro. This would allow a return to business as usual. By issuing a new paper currency that it could print without limit, the Greek government could provide itself with the wherewithal to continue paying its civil servants, pensioners and corrupt officials, albeit at the risk of suffering Weimar-style inflation.
The second would be for the EU to accept collective responsibility for roughly half of Athens' debts. If its debt burden were lightened from the present 150 per cent of GDP to about 80 per cent - roughly the level in Germany, France and Britain - Greece could hope to become a functioning economy again.”

He thinks that this second solution is much more likely, “because a break-up of the euro is unacceptable to the German and French governments - and a break-up would surely follow a sudden Greek default. If Greece found itself unable to borrow in euros and devalued its citizens' savings into a new currency, the Irish would fear similar treatment and immediately transfer their savings to German banks, destroying Ireland's banks and forcing it to exit the euro. That capital flight, in turn, would pose a mortal danger to the membership of Portugal, Spain, Italy, Belgium and even France.

Europe will therefore be compelled to give Greece more money even if its politicians vote against the austerity policies today. And having lifted a large part of the Greek debt burden, Europe can hardly deny equal treatment to Ireland and Portugal, which are far less culpable for their financial plight.

In the end, the creditworthy euro members will have to accept collective responsibility for about 500 billion ($681bn) of Greek, Irish and Portuguese debts if they want to ensure the single currency's survival. That may sound like a huge figure, but in relation to the eurozone's total GDP of more than 10 trillion, it is an easily manageable sum.

Politically, however, it will be impossible to transfer this debt from national to pan-European taxpayers without some big institutional changes. As explained this month by the president of the European Central Bank, Jean-Claude Trichet, the EU will have to create a new institution fulfilling the key functions of a federal European finance ministry: to manage and guarantee public debts on behalf of all the eurozone nations and to exercise a power of veto over tax, spending and social policies in all the eurozone states.

If the EU could create such an institution, it could quickly resolve the euro crisis. What, then, is the problem? Quite simply, the fiscal federation proposed by Trichet is at present unacceptable to public opinion both in solvent countries such as Germany and bankrupt ones such as Greece.

The creditor countries do not want to accept an additional euro-federal debt burden, while the debtor countries are even more resistant to the loss of national sovereignty and democratic self-determination that centralised tax, spending and social welfare policies would imply.

The implication is that both the creditor and the debtor countries will resist the only possible solution to the euro crisis until they have exhausted every possible alternative.”

This crisis is deliberately engineered so that the Euro does collapse and the World system goes into total collapse so that the SDR system of a NWO one world currency is set up.

Watch it commence to happen over the next six months.

This crisis is therefore required. Kaletsky considers that: “Even to maintain the present unstable equilibrium in the European financial system will require a continuous sense of crisis. For only in an atmosphere of crisis will Germany continue financing the debts of the bankrupt nations - and only in a desperate situation will Greece, along with other debtor nations, even pretend to implement the painful austerity policies the Germans demand as a quid pro quo.

Ironically, therefore, a continuous threat of crisis is the necessary condition for even temporary financial stability in Europe. As for the "quantum leap" to fiscal federalism that Trichet has rightly identified as the key to the crisis, the logical requirement for this to happen is the crisis must get even worse.

European leaders hope, by contrast, that the crisis can be resolved gradually, avoiding the need for radical measures, because conditions will improve through the passage of time. This approach of ‘kicking the can down the road’ is by no means stupid. Banks can rebuild their capital, the world economy can strengthen and voters can be reconciled to fiscal federalism.

There are, however, two much more powerful ways in which time works against the euro's survival. The first is random shocks and policy misjudgments. If progress can be achieved only by bringing the euro to the brink of collapse and then pulling it back with an improved ad hoc solution - and if this continues for years rather than months - then it becomes much more likely that someone will step over the brink, as the US government did in the Lehman disaster.”

He says that: “The second big risk is that time will make public opinion more hostile instead of more compliant, especially in the debtor countries. Voters in debtor countries will also realise that they have more bargaining power than their leaders let on.

Default might not be a disaster. Nations have often defied creditors, restructured debts and then returned to prosperity, belying the dire prophecies of their own leaders. The latest example was Iceland, where a referendum repudiated a debt deal with Britain and The Netherlands last month. The consequence was not the financial meltdown predicted by Icelandic leaders. Instead, Iceland's credit rating was upgraded and its access to global bond markets restored. Whether Greece, Ireland or Portugal would enjoy similar benefits from default is unclear, but their voters might be tempted to try their luck.

‘Kicking the can down the road’ is therefore a strategy for disintegration and conflict.
If Europe's politicians genuinely want to save the euro, they must make the quantum leap to a fiscal federation - and do it soon.”

The reality is that we face financial collapse to force us into the NWO one world currency and that right soon.

Wade Cox
Coordinator General