Global Markets Crash

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money

The Telegraph: “When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal.

Time is now rapidly running out. From China to Brazil, the central banks have lost control and at the same time the global economy is grinding to a halt. It is only a matter of time before stock markets collapse under the weight of their lofty expectations and record valuations.

The FTSE 100 has now erased its gains for the year, but there are signs things could get a whole lot worse.”

Opinion: “But seven years of famine will follow them. Then all the abundance in Egypt will be forgotten, and the famine will ravage the land.” Genesis 41:30

The 7 year Biblical cycle ends in a Shemittah year when debts are forgiven. Shemittah years are the last of a 7-year cycle and often are accompanied by financial turmoil.

One week ago today, the financial world wondered if the Federal Reserve would raise interest rates the next day or the next month. The markets were quiet.

On Wednesday, the Fed minutes were unclear saying that they would evaluate data to determine when they would raise. The markets, on the heels of massive Chinese currency manipulation, were not amused. The Fed had lost control.

So now what? Expect the experts to be negative short term but also expect to hear the words ‘buying opportunity’ over and over again.

We have been duped. The Fed and related government departments have been exaggerating economic data because the US economy has been rising on $4.5 trillion counterfeit dollars.

I am expecting violent rallies and steep declines and if we are where I think we are on the Bible’s timeline, the end result will be a global power shift away from the US dollar.