Eurogeddon?

As mentioned before, I believe we should cast a wide net when looking for prophecy related news, in an attempt to be more inclusive rather than exclusive in news sources. Additionally, who do we trust with the news? Is the NYTimes trustworthy just because of their name? Ever see any hidden agendas in their reporting? You could say the same about most news sources.

With this in mind, occasionally you find a good article from the source below and this one is very interesting:

Eurogeddon: What On Earth Next?

The entire world presently is fixated with the Eurozone’s financial struggles, and, for ample reason. Will this currency union of 17 nations collapse? Will some European countries default on their debt? Could a group of countries emerge in a fiscal union with a “new euro”? The consequences of a break-up of the Eurozone are truly dire. Why? For quite a number of reasons, but the most contagious of these being that numerous banks would collapse.

And don't forget, we are awaiting the emergence of the biblical 10 kings - which will represent the next step in the evolution of the revived Roman Empire - the same 10 kings who will produce the antichrist and rule the world with the antichrist during the Tribulation.

Should this occur, it would ripple out to the entire world financial system in a matter of nanoseconds. Credit markets would again seize up, contributing to another Great Recession … if not worse. The fact is that perhaps hundreds of banks (including some of the largest in the world) are already technically insolvent. It explains why key central banks are working together to ensure that no major banks get pushed to the wall should their funding dry up.

Looking ahead, what can we conclude? For one, the current situation is extremely dangerous. There is no telling how things will unfold. The fact is that there are no immediate and easy solutions.

This would involve the repayment of loans and/or the writing off or forgiveness of debts. For example, one recent study estimated that approximately $15 trillion in debt forgiveness would be required were America and Europe to reduce their total debt levels to a manageable 180% of GDP. Could this ever happen? Would the capital holders, the rich, the powers of this age allow this? You be the judge.

Now we get to the key statements:

The key question of the moment is this: Will the solution to current troubles be real and cooperative, or will an uncontrolled disaster unfold? Hollow, bogus policy actions will not work.

We anticipate that, eventually, a patchwork of countries will be cobbled together into a new financial union. Initially, this would comprise only European nations.

But this likely will not be the end of the transitionOne must recognize that none of this can happen without the aid and approval of America and other non-European nations. If it wasn’t for the massive swap facilities extended by America’s Federal Reserve, Europe’s financial system today would already have imploded.

In any case, any type of union such as we surmise will only happen with a further escalating crisis. Things are not yet critical enough for such measures to come to implementation. When it finally does, it will be a arrangement that will also not last. If so, perhaps only for “one hour” (Revelation 17:12).

As a final conclusion, the same problems that applied to Europe could next affect America. It is also caught in a similarly imbalanced situation. It is running huge deficits (both in its government budgets and externally on its trade accounts). At some point, the world’s attention will again be turned to the financial deterioration of America. Then, U.S sovereign bonds will no longer be so popular.

Once again we see the concept of "Big Crisis = Big Change" and this time we may be seeing the early stages into the EU's inevitable transition into the 10 kings phase. Stay tuned, this situation is evolving very rapidly.