Big Crisis = Big Change III

This theme keeps repeating, but it is extremely important. A big crisis can also equal a big tipping point. First, we should take a look at what biblical prophecy tells us what to expect.

We know that a time will come which is perfect for the antichrist to rise to power. Many of us expect the various conflicts in the Middle East to precipitate his rise (the Isaiah 17 scenario and the aftermath of the epic Gog-MaGog conflict of Ezekiel 38-39). This looks like a very likely scenario, and following these two epic battles/wars, with Israel severely beat up and the surrounding Islamic groups virtually destroyed, it is easy to see the road paved for the confirming of the "covenant" and the rebuilding of the Temple.

Additionally, we have to look at the revived Roman Empire and it's fate.

Based on Daniel 2 and 7, we also know that there will only be four world kingdoms who will rule over Israel, beginning with the Babylonian empire. The last of these four kingdoms is unequivocally the Roman Empire - an empire that will transform from "iron" (Daniel 2) to an empire in the last days which will be "iron and clay". There will not be a fifth kingdom, so the kingdom which is in place at the time of the Second Coming will be some changed form of the Roman Empire.

We also know from Daniel 2/7 and Revelation 13/17 that the Roman Empire will morph into a ten kings phase - the form of the revived Roman Empire which will rule with the antichrist.

So, we are looking at world events and trying to envision how exactly today's Roman Empire will become the 10 kings phase and we are looking at the set of conditions which will precipitate the rise of the antichrist.

This backdrop takes us to today's news:

1. Modern Day Roman Empire:

Today's Roman Empire is on the brink of huge change. Because we know there is no interim form between the "iron and clay" mixture (aka EU/Med Union) and the 10 kings phase, then we would expect to see an immediate transformation into the 10 kings.

Big crisis = big change. We are most definitely seeing "big crisis", so we can fully expect "big change" to be coming soon - the dominoes are beginning to fall rapidly in the EU:

Eurozone Agrees Up To 100 Billion Bail-out for Spain's Banks

Eurozone finance ministers on Saturday (9 June) agreed to disburse up to €100bn for Spain's troubled banks, but without an accompanying austerity programme as for Greece, Ireland and Portugal.

The prospect of Greece cancelling its second bail-out and possibly exiting the eurozone drove Spain's borrowing costs into bail-out territory and led to a downgrade by Fitch ratings agency.

Two other independent audits are expected later this month, after which the final sum will be revealed. Unclear is also which bail-out fund will be used - the temporary European Financial Stability Facility or the upcoming European Stability Mechanism, due to come into force early July.

Spain And Greece Top EU Agenda Next Week

A Spanish bank bail-out - potentially - and Greek elections are the big events on the EU calendar next week.

Reuters and the Financial Times on Friday (8 June) reported that eurozone finance ministers are to hold a special teleconfrence on Saturday at which Spain will formally request help for its banks.

If it happens, it will be the fourth bail-out since the crisis began.

For its part, the IMF will in a report on Monday say how much money Spanish banks need.

The window of opportunity for Spain is closing.

The budgetary discipline bill applies to eurozone countries only and represents a quantum leap in European Commission power.

A quick thanks to my brother for this one :)

Europe Bailout Of Spain Could Cost $125 Billion

Spain became the fourth and largest country Saturday to ask Europe to rescue its failing banks, a bailout of up to (EURO)100 billion ($125 billion) that leaders hoped would stabilize a financial crisis that threatens to break apart the 17-country eurozone.

The rescue offer follows growing pressure from international investors and the Obama administration and comes a week before elections in Greece, whose voters could decide whether the country leaves the euro.

Europe's widening recession and financial crisis has hurt companies and investors around the world. Providing a financial lifeline to Spanish banks is likely to relieve anxiety on the Spanish economy - which is five times larger than Greece's - and on markets concerned about the country's ability to pay its way.

"What the markets are looking for is essentially the Spanish government's acceptance that its banks are broke," said Jacob Kirkegaard, a research fellow at the Peterson Institute for International Economics in Washington.

International pressure on Spain to solve its financial problems has grown more urgent in recent weeks. On Thursday ratings agency Fitch hit Spain with a three-notch downgrade of its credit rating. That left it two levels above junk status. Then on Friday, Moody's Investor Services warned it could downgrade Spain and other countries in the eurozone.

Below we see how the dominoes are beginning to fall:

Spain IS Greece After All: Here Are The Main Outstanding Items Following The Spanish Bailout

After two years of denials, we finally have the right answer: Spain IS Greece. Only much bigger (it is also the US, although while the US TARP was $700 billion or 5% of then GDP, the just announced Spanish tarp is 10% of Spanish GDP, so technically Spain is 2x the US). So now that the European bailout has moved from Greece, Ireland and Portugal on to the big one, Spain, here are the key outstanding questions.

Which brings us to a bigger question: now that Spain is officially to be bailed out, what happens next. And by that we mean of course the big one: Italy. Recall that as we posted in Brussels… We Have A Problem, once the contagion spreads again to Italy, and that country also needs a bailout, it is game over. From the world’s biggest hedge fund Bridgewater:

Naturally with Spain now officially biting the bullet, the only question remaining is: when is Italy going to drop next.

The long-term reaction is obvious: this latest confirmation that Europe is a sinking ship has been predicted by many for years. As such, that European risk markets will continue sinking, and capital flows continue rushing to Germany, is a given.

Here They Come: Ireland Demands Renegotiation Of Its Bailout Terms

Well that didn't take long. The ink on the #Spailout is not dry yet (well technically there is no ink, because none of the actual details of the Spanish banking system rescue are even remotely known, and likely won't be because when it comes to answering where themoney comes from there simply is no answer) and we already have an answer to one of our questions.

"Ireland wants to renegotiate its rescue plan to benefit from the same treatment as Spain, which looks set to win a bailout for its banks without any broader economic reforms in return, European sources said on Saturday."

And with Ireland on the renegotiation train, next comes Greece. Only with Greece the wheels for a bailout overhaul are already in motion

Congrats Germany: you have now opened the Pandora's box of infinite moral hazard, bailout renegotiations and unconditional rescues.

Brace Yourselves: Spain's No-Austerity Rescue Package Will Lead To EU Countries Reneging On Their Bail-Out Agreements

Did you catch that? Spain scored itself a massive no-strings-attached bailout deal. Clearly, this sets them apart from the other eurozone countries that were forced to agree to austerity measures in order to be eligible for financial aid.

“Ireland wants to renegotiate its rescue plan to benefit from the same treatment as Spain, which looks set to win a bailout for its banks without any broader economic reforms in return,” the AFPreports.

You know what this means, right? Ireland isn’t going to be the only bailed out country crying foul.

You know who else is going to be unhappy about this?

“[W]ith Ireland on the renegotiation train, next comes Greece. Only with Greece the wheels for a bailout overhaul are already in motion

Indeed, if you thought the situation in the EU was dire, consider a scenario where previously rescued countries decide to renege on the terms of their bailouts.

Spain To Seek Monstrous Bailout

Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.

After a 2-1/2-hour conference call of the 17 finance ministers, which several sources described as heated, the Eurogroup and Madrid said the amount of the bailout would be sufficiently large to banish any doubts.

And during a big crisis, we see situations arise like the following:

Underestimating The New Nazis In Greece: The Golden Dawn Party

Such moments of destiny now test us in our turn. Two short weeks ago, across Everests of whipped cream and dense cappuccino fog, our iPads blipped something or other about the Greek Neo-Nazi party winning seven percent in elections held amid Weimar-like disintegration of that country’s economy. A hundred million eyes rolled, five million deigned to snort, and all buried their minds, ostrich-like, in caffeinated indifference.

The once-obscure Greek Golden Dawn is worthy of more than snorting disdain. Its growth and the conditions in Greece are reminiscent of pre-War Germany.

The organization owes its advent in part to a band of new Eckarts, men who use religion to mask their antisemitic ideology and socialist economic theory in Europe and the United States. The organization’s growing popularity demonstrates how quickly small numbers and risible doctrines can achieve power given favorable social factors.

The real Europe, to rise again, will need a single political center that embodies a compelling Idea. This will only happen with a state entity, by its nature “superior” to individual people and offering them a great historic mission: that of “order” making the world a mirror of the Order of heaven. The Idea is the rediscovery of the imperial (not imperialist!) (It is the Idea) of a power “consecrated” from on High and rooted in many people- related, similar and united — but still distinct and vital. It will be one hundred flags of the European Empire.

If that isn't enough, we see the following:

The ENF embraces an economic policy that opposes the “effects of Zionism.” It advocates distributism, a social philosophy erroneously claiming to be based on that of Popes Leo XIII and Pius XI, who outlined solutions for the ill effects of the Industrial Revolution and the rise of Communism.

Radical distributists wax eloquent concerning the role of “Zionist international banking empires” in the present state of Europe, but are shy when asked for details concerning the distribution of presently-held “Zionist” wealth. The implementation of distributism requires stringent state involvement.

We have five million unemployed people and people have a lot to do to look for jobs and they are worrying about their future. Especially in the time if you have economical problems, then the young people are easy to influence, to seduce. If one politician tells to the people, “The Turkish guys, or the foreign guys, or the Jewish guys are responsible, then you believe it and you vote for the Nazis.”

First it was Greece. Now we see Spain, Ireland, Portugal ready to collapse. The EU simply cannot continue to support these collapsing economies - there just isn't enough money. The revived Roman Empire is on the brink of huge, epic changes.

We know from biblical prophecy, namely Daniel 2 and 7 there there will be no further empires after the Roman Empire is regathered. The next stage in the Roman Empire's development comes in the form of it's 10 kings phase - the phase which produces the antichrist.

We should pause and connect some dots.

The current form of the EU cannot be sustained. Period.

We know that the next phase in the development of the revived Roman Empire is the formation of 10 kings. We also know that the 10 kings phase will produce the antichrist (Daniel 7:7, 20-25).

Again, this is worth repeating: The EU cannot exist much longer in it's current form. Therefore it must undergo a big change, and the prophetic scriptures tell us that the next phase is the 10 kings. Simple logic tells us that we are in the very threshold of seeing the realization of the 10 kings.

Not long after that, the antichrist will rise to power. He will rule the world with these 10 kings (Revelation 13 and 17). When this happens, the Tribulation will soon begin, as the antichrist marks his rise to power by confirming the covenant of Daniel 9:27.

We most definitely seem to be on the brink of such changes - changes which lead directly into the Tribulation. We know this for the simple fact that the EU cannot exist in it's present form much longer. We know that there is only one more form of this Roman Empire to come - the 10 kings.

Along this road, we are certain that Jesus will return to "gather up" His bride.

It won't be much longer. We are also at the very end of the generation that Jesus spoke of in Matthew 24.

A simple matter of connecting these obvious dots leads us into these conclusions.

One can almost hear the footsteps of the Messiah - coming for His bride. It won't be much longer.

Maranatha! Our Lord Comes for His bride.

As stated in Luke 21:28-31, it is clearly time to be looking up for His return.