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The global house of cards is collapsing...
“… the disaster back in the 1920's, My children, was as nothing compared to what will happen now. I talk of a great depression coming upon mankind." - Jesus, October 1, 1988
Mathaba.net reported on August 13, 2007:
The core meltdown of the world financial system, which has been in preparation for a long time, has now occurred, with the collapse of the subprime mortgage market in the United States...
The core meltdown of the world financial system, which has been in preparation for a long time, has now occurred, with the collapse of the subprime mortgage market in the United States. Beginning with two hedge funds belonging to Bear Stearns, a series of such funds have gone to ground due to speculative failures, and the turbulence has finally spilled over into the international markets and implicated financial institutions in Germany, France, Great Britain, and Australia. And that is only the beginning.
While most of the press internationally is in full cover-up mode, the near collapse of the German "industrial credit bank" IKB has shocked some in Germany into recognizing the situation. Jochen Sanio, head of the German banking regulatory agency BAFIN, admitted that this amounted to the "worst banking crisis in Germany since 1931." According to the Süddeutsche Zeitung, the "whole German banking system" was in danger, which was obviously the reason for a temporary rescue of the IKB by the German government and the Kreditanstalt für Wiederaufbau (Reconstruction Finance Agency), at the tune of 8.1 billion euro (over $11 billion).
But this is only the tip of the iceberg; more U.S. mortgage banks, such as American Home Mortgage, are in serious distress. One reason for that lies in the practice of so-called "adjustable mortgages," whereby the buyers can acquire real estate they cannot afford, and in which, for a certain period of time, rather low interest rates on the mortgages fall due, but then, after a prescribed period, at most two years, are automatically raised. When the higher rate goes into effect, the payments rise in the range of hundreds of dollars per month. The adjustable mortgage market went into full swing in the Spring of 2005, thus, an avalanche of increases in the rates has occurred precisely at the present time.
All in all, increases in the interest rates on adjustable rate mortgages affect 12% of all mortgages in the United States, raising mortgage payments by a trillion dollars. In October alone, mortgages will be jacked up by over $50 billion, and eventually all categories of mortgages will be threatened. According to Moody's Economy.com, between 1995 and 2005, about 3.2 million homeowners bought houses on the basis of subprime mortgages or similar credit-terms, and thus, it is expected that about 2 million of these homes will be lost in the next months. The flood of housing foreclosures has led to a dramatic collapse in real estate prices; because of the exposed position of the financial institutions, it will become considerably harder to get new mortgages, and the effect on the real economy, including jobs in the construction sector, will be catastrophic.
END OF THE YEN CARRY TRADE
Much more dramatic than this situation, is the fact that the collapse has been accelerated by another process with very much more far-reaching consequences, namely the drying-up of the Japanese yen carry trade. With it, dried up the paradise of cheap liquidity, which for years permitted investors to borrow advantageously in yen at a zero interest rate, in order to invest in higher-interest-rate sectors around the world. The flood of liquidity from this source amounted to $500 billion, which has been as good as cut off. In the face of rising interest rates, now speculators who have contracted cheap yen credit, and were met with losses in the American mortgage market and in the hedge funds, have sought desperately to turn their investments into cash in order to pay back their yen loans, which has led to an up-valuation of the yen. Again, this increases the losses of the speculators. The reverse leverage, leading to the collapse of the speculative pyramid, is in full swing.
Banks and financial institutions are suffering from a kind of withdrawal shock. Because, while the takeover mania by the hedge funds and private equity funds has recently reached dimensions never known before—worldwide, the hedge funds in the first half of 2007 have taken over companies worth $2.3 trillion—they are sitting on a debt mountain of $1.5 trillion, of which a portion, in light of the always growing reach of the capital markets, threatens to become bad debt. The credit institutions, in a panic, are trying to get these debts off their books by year's end, because they could otherwise not undertake any new financial operations. For the market of mergers and takeovers, the honeymoon is definitely over.
Analysts from Crédit Suisse are warning that the banks are having great difficulties in selling new bonds—if they can't do this, the credit lines to the hedge funds and other market participants must be cut off, which must lead again to a cascade of liquidations.
We are now experiencing how the greatest liquidity bubble in the history of the financial markets is beginning to burst. Lyndon LaRouche incisively recognized the beginning of this development when he identified Nixon's intervention on Aug. 15, 1971, namely the loosening of the fixed-exchange-rate system, the separation of the dollar from the gold reserve standard, and the creation of the Eurdollar market, and with it, of private credit creation, as the beginning of a process which would lead to a new depression.
Alan Greenspan, who can take dubious credit for his part in this development, going down in history as "Mr. Bubble," is responsible for the recent explosion of the casino economy. After the Crash of 1987, which showed parallels with "Black Friday" of 1929, he had the glorious idea of inventing "creative financial instruments." To that category belonged, among other things, credit derivatives. By 1998, the volume of credit derivatives amounted to $180 billion. When, in September of 1998, the LTCM hedge fund, in the context of the Russian state bankrtupcy and the GKO crisis, threatened to go bankrupt, the G-8 nations decided to set a huge liquidity-pumping machine into motion. In 2006, the volume of the "wonder-weapons" of financial transactions, the so-called collateralized debt obligations (CDOs), reached a fabulous $3 trillion.
Through these "structural products," the bankers package credit risks of totally different kinds of debtors into bundles, divide them into different classes of risk, and sell them to investors. The defenders of this practice argue that the hedge funds thereby play a positive role, because they spread the risk onto many shoulders. This theory has only one devastating flaw: As long as all asset prices are rising, everything functions wonderfully—because there is also no risk; but at the moment a reverse-leverage collapse sets in, the linkage between the different market segments through the hedge funds drags the whole system into collapse.
A DRYING UP OF LIQUIDITY
A further problem arises from the fact that, through the instrument of the credit derivatives, a house of cards has been built up. The difference between creditors and debtors is wiped out, the debtor appears at the next moment as a creditor to another debtor, who again gives out credits from his side, and so on. This is, at the same time, the mechanism for the wondrous multiplication of money. Because when the market participant receives such a loan, this loan becomes the reserve capital for loaning a new credit to someone else. And thus, a further spiral goes into effect. Greater credit issuance provides more room for greater securitization; the creation of more liquidity again allows for greater credit issuance.
As they say, as long as the speculative bubble can inflate further, as long as the credit issuance increases, everything is fine (at least in the monetary realm, but not in the real economy, which has been sacrificed in this process). But if, as now, in the event of poor quality mortgage markets, there comes a break, and, as a result of the drying up of the liqudity pump which follows from the end of the yen carry trade, there occurs a reverse-leverage process in this pyramid, then the illusion bursts, and the system crashes. What we experience today, is the psychologically highly interesting process of how limitless greed, in the nature of physical lust, turns, almost overnight, into limitless angst. If no one believes any more that the emperor has new clothes, everyone sees that he is naked.
At the moment that the subprime mortgages, which were bundled into interest-bearing securities such as CDOs, fell in value, the banks and other financial institutions could no longer loan or borrow on the basis of these CDOs, as reserve capital or collateral. As a result, the global wave of liquidity dried up. A further aspect of the sell-off began when the banks had difficulties in financing the takeover of Chrysler through the private equity firm Cerberus (the locust fund which significantly bears the name of the hound of Hell).
Then where do we stand? Are those right, who say that there need only be a "straightening out" of the markets, and a little bloodletting, and then let the central bankers and established powers again take control?
It is interesting that an unorthodox newsletter in France, La Chronique Agora, asked July 31, under the headline, "Stockmarket Crash: Can You Still Escape?" The writer answered: "I don't think so. This time the crisis is too deep and the worry well installed.... This time the alert on the credit markets is of unprecedented magnitude. Long minimized, its gravity is becoming more obvious each day.... The ongoing phenomenon marks the end of an epoch: that of the illusion of unending world liquidity."
"My child and My
children, the days will grow darker, and there will be hunger in your land. Yes,
My child, what I brought you here for this evening is to tell the world that
there will be a crash in the monetary doings of your government—an absolute
crash that will affect every man, woman, and child in the United States and
Canada, and then, like a serpent, creep all over Europe, until the world sees
one big, massive depression. I can illustrate to you, My children, what I mean
by this monetary depression.
"Should you go and wish to buy a small instrument, even a guitar, that We
hear plucking away at the dervishly, and devilry, of what is called the musical
Mass, strung by guitars, and other creations of satan. My child, I go on to tell
you, you will say that the guitar is not a costly item, but in order to buy this
guitar you will carry an actual satchel, an overnight bag-size, My child—let Us
put it that way clearly—of notes, your currency. It will take a whole suitcase
of paper—paper money that no longer has a value. You will soon be reduced to
bartering for your food.
"My child, I know you are affrighted at this word 'war'; 'death', 'turmoil',
'depression', but what can I do but tell you the truth. I cannot smooth over it,
for I would be accepted like those upon earth who like ostriches, they walk
about, proud in their scientific knowledge." - Our Lady of the Roses,
September 7, 1985
The awesome Bayside Prophecies...
https://www.tldm.org/Bayside/default.htm
These prophecies came from Jesus, Mary, and the saints to Veronica
Lueken at Bayside, NY, from 1968 to 1995:
A godless nation shall
fall! . . .
"Without
My Son you are lost. A godless nation shall fall. A nation that has been eaten
away and rotted by sin shall fall. A nation that has turned itself back and
regressed to a state of animal living bordering on all sins of the flesh and
impurity; given over to all manner of seeking things of the world; power, lust,
envy, hate, murders, abortions, worship of false idols; loving money, power, and
lacking the instinct of survival when survival can only be reached by pleading
from them to the merciful heart of the Eternal Father." - Our Lady, June
13, 1981
A great money disaster . . .
"My child and My children, pray a constant vigilance of
prayer. Keep this going throughout the United States and all of the nations of
the world, for there is little time left. Soon, in the plans of the Eternal
Father, He shall set forth and allow to come upon mankind, a great money
disaster. In this way it will prove to you that the disaster back in the
1920's, My children, was as nothing compared to what will happen now. I talk of
a great depression coming upon mankind." - Jesus, October 1, 1988
Destruction of the world monetary systems . . .
"You
will understand and broadcast the message to the world that there will be a
great destruction in the monetary systems of the world. It will affect both the
United States and Canada, and all the great powers of the world. And I repeat
again: You will go to your stores to do your shopping carrying papers which may
as well be newspapers, for the value they will have to purchase even food will
be nil.
"How can a great country like the United States fall, you say, My child?
You ask Me in your heart. I read your heart. I will tell you why. Because they
have given themselves over to satan. When a country has lost its morality and
seeks the pleasures of the flesh, giving over, themselves over, to all manner of
abominations, like homosexuality, and condoning this up the highest courts of
the land, then that country shall fall." - Our Lady, November 1, 1985
Gathering of the world's
money to control the masses . . .
"Man
shall not create a new world as he seeks. For there cannot be a lasting world
without His God. And I speak not of the false idols and gods that man creates
in his human nature! There is only one Creator.
"You who cast aside this knowledge and choose to set yourselves up by power
and the gathering of the world's money to control the masses, you will find that
all of your power and all of your volumes of gold and silver cannot hold back
the heavens as they descend upon you in a just chastisement. The world, the
earth shall tremble, fear shall come upon mankind as he watches the approach of
the destruction that he himself has chosen to set loose." - Jesus,
February 10, 1978
Evil force like an
octopus . . .
"There is a great evil force now enshrouding your world; it is like an octopus
reaching out in every direction to ensnare the world. It is a force of evil set
up by satan. There are many arms of the octopus controlled by the monies of the
world.
"For the love of money and riches, many will sell their souls to get to the
head. O My children, what do you gain if you gather all of the riches of the
world and destroy your soul. When you come over the veil, and you will come over
the veil, what will you bring with you - nothing of the material. You must
gather your riches in Heaven now. They are supernatural: the graces, the merits
that will allow you to enter into the Kingdom of
your
God." - Our Lady, June 24, 1976
The Illuminati . . .
"There is a group in the United States and the world, a
group that started many years ago, calling itself the Illuminati, coming from
the word 'light bearer'. Naturally, My children, this light that they bear
stands for Lucifer, and as such they have gone through the world secretly known
as Luciferians. They have brought into your country, the United States, and
your neighbor Canada, a group of witchcraft practices. Well have they laid
their plan to destroy your children with drugs, using your school systems, your
medias of communication, your newspapers, your televisions, your radios: every
means of communication has been infiltrated by the member and sub-members of the
Illuminati, a conglomeration of individuals and powers and principalities
throughout the world, and banking systems. As you well know, My children, money
has always been the root of all evil, and many have sold their souls to get to
the head." - Our Lady, November 25, 1978
You are worshiping idols . . .
"My children, you must change your values back to the plan of your God. As a
nation, as a country, as in many countries throughout the world, you have become
paganized and immoral. My children, it is the gauge for the fall of mankind:
immorality and paganism. No nation shall stand without its God, the God in
Heaven.
"Man is creating many new gods, gods to feed his human nature; and it is a
basic carnal nature. Idolaters abound. When you worship in abundance things, My
children, you are worshiping idols! If you spend your time gathering things,
money, power, you are worshiping idols. Remove yourself from these worldly
pursuits.
"It is a narrow road to the Kingdom of your God, Heaven. Many are called
but few are chosen. The road with satan is wide. Many walk it and can never
leave, because there are too few prayers said for them and by them.
"Nothing is impossible to your God. Man shall never reach the highest
pinnacle of Heaven in knowledge." - Jesus, March 18, 1978
Many will sell their
souls to get to the head . . .
"The road to
Heaven, My children, is a narrow one; too few stay upon it. For they are
often carried away with the cares of the world, and the pleasures of the
materialistic pursuits, and their gathering of money and prestige and power.
For what? For the few short years allotted to each human upon earth.
I ask you to ask yourself: is it worth it to lose your soul? Many will
sell their souls to get to the head." - Our Lady, November 20, 1979
Gather your graces . . .
"You cannot accept
two masters. One you will love, and the other you will learn to hate. And
remember, My children, where your treasures are, your heart will always lie. And
better that you gather your treasures in a place where there is neither rusting,
nor attacks by moths, and robbers cannot take them from you. Store your
treasures in Heaven, My children. Gather your graces. You must ransom your soul
and the souls of your children, your households. Do not wait expecting to be
repatriated at the last moment, My children. Many are coming across the veil
unprepared, and, sadly, they cannot be accepted into the Kingdom." - Jesus,
August 5, 1977
Store canned goods,
water and blankets . . .
"My children, I caution you now, and I wish that you remember these
instructions from several years ago in earth's time that I gave to you, to keep
in your homes a good supply of canned good. They have shelf value, My children,
they will not spoil. But better that you keep them and they spoil than to have
come upon you the great Chastisement. It will be a ball of fire which will
ignite many of the chemicals that are being stored up for the destruction of the
nations.
"My children, not only with the canned foods will you store just food, but
you must also make known to your families and your friends that they had best
keep blankets and water in tight containers; for there will be on the onset of
the Chastisement, there will be nothing that you can buy due to contamination."
- Our Lady, July 1, 1985
Read the Bayside Prophecies:
Directives...
D213 - Riches, Part 1
D214 - Riches, Part 2
D215 - Money
D307 - Monetary crash
Articles...
Perfect storm of debt rattles Wall Street
https://www.tldm.org/News11/PerfectStormOfDebt.htmAsian stocks tumble the most in five months on credit concern
https://www.tldm.org/News11/AsianStocksTumble.htmSubprime panic points to taxpayer bailout
https://www.tldm.org/News11/SubprimePanicTaxpayerBailout.htmFed cowardice invites catastrophe
https://www.tldm.org/News11/FedCowardiceInvitesCatastrophe.htmForeign money props U.S. economy
https://www.tldm.org/News11/ForeignMoneyPropsUSEconomy.htmThe worst isn't over in mortgage meltdown
https://www.tldm.org/News11/MortgageMeltdown.htmU.S. Treasury Secretary Henry Paulson: Coming financial crash shows need for immediate monetary reform
https://www.tldm.org/News11/PaulsonComingFinancialCrash.htmSlow demise of the mighty greenback
https://www.tldm.org/News11/DemiseOfMightyGreenback.htmCredit spree could cause 1930s-style depression
https://www.tldm.org/News11/CreditSpreeCouldCauseDepression.htmGloom gathers over U.S. economy
https://www.tldm.org/News10/GloomGathersUSEconomy.htmIt’s official: The crash of the U.S. economy has begun
https://www.tldm.org/News10/CrashOfUSEconomyHasBegun.htmThe plan to destroy America - via the dollar
https://www.tldm.org/News9/PlanToDestroyAmericaViaDollar.htmOil producers shun the dollar; Russia and Opec shift revenues into euros, yen and sterling
https://www.tldm.org/News9/OilProducersShunDollar.htmU.S. Comptroller General warns the nation of economic calamity
https://www.tldm.org/news9/MonetaryCrashComptrollerGeneral.htmCentral banks caught in gold squeeze may crush dollar
https://www.tldm.org/News9/goldSqueezeMayCrushDollar.htm
Links...
Video: Money expert Jim Cramer of CNBC - "They're nuts, they know nothing! ... In the fixed income market, we have Armageddon"
http://www.youtube.com/watch?v=SWksEJQEYVUWall Street tremors, Asian markets' tsunami, Forbes.com, August 10, 2007
http://www.forbes.com/markets/2007/08/10/asian-markets-roundup-markets-equity-cx_vk_0810markets03.htmlWorld markets rattled amid Dow Jones crash, ABC News Australia, August 10, 2007
http://abc.net.au/news/stories/2007/08/10/2001292.htm?section=businessRisky home loans run a fever, and the market prays it doesn't spread, U.S. News and World Report, July 15, 2007
http://www.usnews.com/usnews/biztech/articles/070715/23subprime.htmU.S. dollar facing imminent collapse? WorldNetDaily, December 10, 2006
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53311USA Today report: Real federal deficit 3.5 trillion, Newsmax, August 3, 2006
http://www.newsmax.com/archives/articles/2006/8/3/123820.shtml?s=lh
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knowledge that you will not be protected without the sacramentals. Guard
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Remove them if necessary from the sources of contamination, be it your
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Your names have been written in Heaven… "It is not by accident that you are called by My Mother, for your names have been written in Heaven.... But with this great grace you have great responsibility to send this Message from Heaven throughout the world, for if you are able to recover just one more for Heaven, an additional star shall be placed in your crown." - Jesus, August 5, 1975
A great obligation to go forward... "It is not by accident that you are called by My Mother, for it is by merit and the prayers that have risen to Heaven for your salvation. For those who have received the grace to hear the Message from Heaven, you have a great obligation to go forward and bring this Message to your brothers and sisters. Do not expect a rest upon your earth, for you will have eternal rest very soon." - Jesus, June 12, 1976
The sin of omission... "The sin of omission shall condemn many to hell, be they layman or Hierarchy. I repeat: not the sin of commission, but the sin of omission will commit many to hell." Our Lady of the Roses, October 6, 1980
We encourage everyone to print or email copies of this web page to all the Bishops and all the clergy. Also, email or send this web page to the news media and as many people as possible.
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