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Dow enters bear territory

Perfect storm of debt rattles Wall Street...

“… 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

The [U.K.] Observer reported on August 12, 2007:

Hedge funds are collapsing and banks fear plunging profits, but low-income Americans will be the real victims. James Doran reports from New York.

A rare tornado wreaked havoc in New York last week, sparking chaos across the city. But, as commuters picked through broken tree limbs and flattened cars, a whirlwind of another kind tore along Wall Street.

What started as a squall at the grubby end of the mortgage market has become a perfect storm of debt. Wall Street's giant investment banks are being sucked into a crippling credit crunch. The Securities and Exchange Commission is even rumoured to be examining the major banks to determine their vulnerability to the defaults. Two hedge funds run by bank Bear Stearns have been made bankrupt and a third frozen. The company has now hired law firm Davis Polk & Wardell to conduct an inquiry into the collapses.

Less than an hour after the bankruptcy filing, Warren Spector, the bank's co-president and supposedly one of Wall Street's best debt and mortgage market men, was summoned to the office of James Cayne, his chief executive. Cayne said he should take responsibility for the bank's failure to protect itself. The share price was down 27 per cent and Standard & Poor's, the credit rating agency, had raised a red flag over the bank, shifting its outlook from 'stable' to 'negative'. Someone had to take the fall.

Spector had been considered the most likely to succeed his chief; now he was the first high-profile casualty. As he now watches from his home on Martha's Vineyard, more twisters are touching down on Wall Street, sending investors and bankers running for cover.

Bear Stearns was not the only bank with huge amounts of mortgage business. Lehman Brothers did the largest amount on Wall Street, analysts say, but it seems to have avoided Bear Stearns' troubles thus far.

Goldman Sachs, the most profitable investment bank on the Street, revealed that two of its hedge funds were experiencing difficulties. Then BNP Paribas, the French banking group, admitted similar related woes at three of its hedge funds.

But, big as the problems facing Goldman, Bear Stearns and BNP seem, these are isolated showers compared with the storm brewing. There are few buyers for even the least risky of bonds, while those labelled junk will not be touched with a barge pole. Similarly sentiment is gripping the equities markets, with shares plunging each time more bad mortgage news emerges.

The European Central Bank, the US Federal Reserve and the Bank of Japan were all forced to inject cash into the financial system because there was too little liquidity - meaning very low levels of trading - and banks are not generating revenue so profits are set to dive.

Indeed, many analysts believe that Wall Street profits for the second half of the year will be 30 per cent lower, the greatest drop in years. This would be difficult to weather without passing on the pain to bankers tightening their belts for an expected round of job cuts.

But the banks and the bankers will survive. The real victims are ordinary Americans, for whom buying a house and all the prosperity and security that comes with it is now just out of reach. The sub-prime market was not designed to saddle the unsuspecting borrower with usurious terms for life. In fact, there were some very useful mortgage products that gave many Americans a leg-up on to the housing ladder .

Now, with the banks in panic mode, the American Dream will be banished for many until Wall Street wakes up from its credit-crunch nightmare.

'I am fighting. I don't want to lose my home'

Paulina Matherin has dreamed of owning her own home in the United States ever since she was a teenager in St Lucia. But her hopes have turned to dust as she and her brother John have fallen victim to the US housing crash and face losing their home.

Unlike many others, Paulina and John resisted taking on too much debt at a time when interest rates were low but still found themselves unable to afford repayments when the cost of borrowing rose.

The Matherins were stalked by predatory lenders who persuaded them to remortgage their house before using their credentials to obtain hundreds of thousands of dollars in their name. And theirs is not isolated case. Lax lending rules have allowed American homeowners to amass billions of dollars of mortgage debt they have no means of repaying. They have also left the door open for countless fraudsters who have exploited their clients' desperation to obtain the loan funds.

'The man we dealt with is wanted for defrauding more than 200 other people in New York alone,' says Paulina.

Paulina, who is 58 and practises alternative medicine from her house in Brooklyn, New York, saved for 15 years to afford the modest $169,000 (about £83,000) mortgage she needed to buy her first home in 1996. 'I have lived in the US for 24 years and I never thought it would come to this,' she says, 'I am fighting this all the way. I don't want to lose my home.'

Her story charts the rise and fall of the US housing market and shows how unscrupulous banks and brokers have ensnared vulnerable clients in a cycle of debt and default.

Paulina's first mortgage was taken out with a small sub-prime lender called Apple Credit. As she had a poor credit history, she needed her son to co-sign her loan and Apple sold her a loan with high fees.

But, like many other small sub-prime lenders whose collapse has contributed to the current credit crunch affecting banks as far apart as France, Germany and Hong Kong, Apple Credit didn't last long and soon went bust itself.

'They were involved in some kind of fraud and closed down,' Paulina says. 'I kept sending my payments through Western Union, but nobody told me that before they went bust Apple Credit had sold my mortgage to the Bank of New York.' She continued to send her payments to Apple Credit and the Bank of New York received nothing. After six months, the bank initiated automatic foreclosure proceedings.

However, as soon as her house was listed as ready for foreclosure, Paulina was inundated with offers of new loans from local brokers eager to capitalise on the housing boom in 2004.

'A company called Lost and Found promised to get my house off the foreclosure list, pay my mortgage for a year, restore my credit and sort everything out,' says Paulina. Instead, it is alleged, brokers dealing with her case applied for loans worth hundreds of thousands of dollars in her name. Her house was back on the foreclosure list.

Although Paulina's case might seem unusual, the increase in recent years of fraudulent mortgage schemes and loan defaults are both key factors in the current global credit crunch.

'While the lending guidelines were loose and house prices were rising the increase in the number of frauds was crazy,' says David Tankin, Paulina's lawyer who specialises in helping homeowners prevent foreclosure. 'The fraud problem has reached such epic proportions that it is hitting ordinary middle class people and not just the sub-prime end of the market.'

Scott and Latosha Bickel live near Paulina in Brooklyn. The couple are both teachers and own their own home. They spent the summer trying to buy a holiday home but almost lost all their savings when their mortgage company went bust on the day their purchase was due to complete. Their lender was American Home Mortgage, which reportedly lends only to borrowers with employment and income history.

The Bickels were lucky enough to find another lender but Paulina - and millions like her - could still lose everything.


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"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

graphicMany 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:
   
  September 7, 1985 message -- World monetary crash: "One massive depression" (click here)Eve of the Feast of the Nativity of Our Lady - 9/7/85

Directives...

D213 - Riches, Part 1   PDF Logo PDF
D214 - Riches, Part 2   PDF Logo PDF
D215 - Money   PDF Logo PDF
D307 -
Monetary crash
New

Articles...

Asian stocks tumble the most in five months on credit concern
https://www.tldm.org/News11/AsianStocksTumble.htm

Subprime panic points to taxpayer bailout
https://www.tldm.org/News11/SubprimePanicTaxpayerBailout.htm

Fed cowardice invites catastrophe
https://www.tldm.org/News11/FedCowardiceInvitesCatastrophe.htm

Foreign money props U.S. economy
https://www.tldm.org/News11/ForeignMoneyPropsUSEconomy.htm

The worst isn't over in mortgage meltdown
https://www.tldm.org/News11/MortgageMeltdown.htm

U.S. Treasury Secretary Henry Paulson: Coming financial crash shows need for immediate monetary reform
https://www.tldm.org/News11/PaulsonComingFinancialCrash.htm

Slow demise of the mighty greenback
https://www.tldm.org/News11/DemiseOfMightyGreenback.htm

Credit spree could cause 1930s-style depression
https://www.tldm.org/News11/CreditSpreeCouldCauseDepression.htm

Gloom gathers over U.S. economy
https://www.tldm.org/News10/GloomGathersUSEconomy.htm

It’s official: The crash of the U.S. economy has begun
https://www.tldm.org/News10/CrashOfUSEconomyHasBegun.htm

The plan to destroy America - via the dollar
https://www.tldm.org/News9/PlanToDestroyAmericaViaDollar.htm

Oil producers shun the dollar; Russia and Opec shift revenues into euros, yen and sterling
https://www.tldm.org/News9/OilProducersShunDollar.htm

U.S. Comptroller General warns the nation of economic calamity
https://www.tldm.org/news9/MonetaryCrashComptrollerGeneral.htm

Central 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=SWksEJQEYVU

Wall 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.html

World markets rattled amid Dow Jones crash, ABC News Australia, August 10, 2007
http://abc.net.au/news/stories/2007/08/10/2001292.htm?section=business

Risky 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.htm

U.S. dollar facing imminent collapse? WorldNetDaily, December 10, 2006
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53311

USA 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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    "I must ask you all to read but a few short chapters a day now, the Book of life and love, your Bible. Knowledge must be gained for all the disciples of My Son, for you will be attacked by scientific minds. But do not be concerned what you will say to them when accosted, for the words will be given to you by the Spirit." - Our Lady, April 10, 1976
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Our Lady tells us to be protected from all evil, we must wear the following sacramentals around our necks: a Rosary, a crucifix, the St. Benedict medal, Our Lady of the Roses medal, the Miraculous Medal, and the scapular. We have all of these sacramentals in a packet we call "Heaven's Personal Protection Packet." This packet is available for a donation of $5.00 plus $3.00 shipping and handling. Send $8.00 to TLD Ministries, P.O. Box 40, Lowell, MI 49331. Item # P5  (Order Form)

    Our Lady of the Roses, Mary Help of Mothers promises to help protect our children. On September 13, 1977, She said, "He has an army of ogres wandering now throughout your country and all of the countries of the world. They are in possession of great power; so wear your sacramentals, and protect your children and your households. Learn the use every day of holy water throughout your household. Insist even with obstructions, insist that your children always wear a sacramental. One day they will understand that they will repel the demons."
    On February 1, 1974, Our Lady said, "My children, know the value of these sacramentals. Guard your children well. You must awaken to the knowledge that you will not be protected without the sacramentals. Guard your children's souls. They must be surrounded with an aura of purity. Remove them if necessary from the sources of contamination, be it your schools or even false pastors."
    This Heaven’s Personal Protection Packet is available for a donation of $5.00 plus $3.00 shipping and handling. Send $8.00 to TLD Ministries, P.O. Box 40, Lowell, MI 49331. You may use your MasterCard, VISA, or American Express and call 1-616-698-6448.  Item # P5
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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

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