Financial collapse postponed - Bill Wilson - www.dailyjot.com
The financial devastation and subsequent collapse of America prophesied by those who are predicting the judgment of God on the US between now and the end of Shemitah on September 13 may have been postponed. Whether it is a delay in judgment or actually just another putting off of the consequences of bad stewardship remains to be seen. Was there some temporary supernatural event that stepped between America and catastrophe or a human decision? This time, it may well have been the very same as the last time and the time before that--the Federal Reserve. The Fed signaled last week to the banking community that it would keep interest rates the same. Poof! No more immediate market fear.
The UK Guardian reports: "Like children clinging to their parents, stock market traders turned to their central banks last week as they sought protection from the frightening economic figures coming out of China. Surely, they asked, the central banks would ward off the approaching bogeymen, as they had so many times since the 2008 crash. The US Federal Reserve came up with the goods. William Dudley, president of the bank's New York branch, hinted that the interest rate rise many had expected next month was likely to be delayed. A signal that borrowing costs would remain at rock bottom was all it took. After Black Monday and Wobbly Tuesday, the markets recovered to regain almost all their recent losses."
Some have prophesied that the Shemitah "ordained, spelled out, and determined the collapse of the American and global economy...even the exact timing down to the exact day." Several have pointed to this year's Shemitah as the harbinger for this event, which they call the judgment of God on America. Shemitah is the seven year cycle where Jewish law requires a year of rest, of land to remain fallow, and debt to be remitted. At the end of the Shemitah, there is a blessing. When Israel didn't keep the Shemitah for seven cycles, he judged Israel with the Babylonian captivity. Some are saying that in this year's Shemitah America will be judged by God with destruction through the collapse of the US stock market before September 13.
The stock market is due for a crash. It has been pumped up by the US Treasury through the Federal Reserve, accumulating record $18-plus trillion debt. And when it crashes, it will be devastating. I would, however, hesitate to call it judgment. We did it to ourselves through our own actions. When judgment truly comes, no one will want to experience or see it. You can read about it in Revelation. Another point: America is not Israel. This country did not replace Israel in God's covenant. While turning against God has its consequences for all who break God's laws, there is only one nation that God has brought into covenant--Israel. As the Lord says in Genesis 12:3, "And I will bless them that bless thee, and curse him that curses thee: and in thee shall all families of earth be blessed." Remember, this is the Abrahamic Covenant, not the American covenant.
Greece Bailout Crisis Intensifies as Prime Minister Alexis Tsipras Prepares Resignation
There was a major development in the Greece bailout crisis today (Thursday) as Prime Minister Alexis Tsipras plans to hand in his resignation this evening.
According to reports, Tsipras intends to tell Greece's head of state, President Prokopis Pavlopoulos, late Thursday he can no longer continue as premier due to the lack of a stable governing majority in parliament.
Tsipras is expected to propose Sept. 20 as the date for new parliamentary elections. However, the decision on the date for the new parliamentary election rests in Pavlopoulos' hands. The government is expected to announce its intentions publicly Thursday evening.
Tspiras hopes that new elections will allow him to win a stronger mandate to implement the bailout deal.
That news came after cash-strapped Greece avoided defaulting on a debt payment earlier in the day. The Greek government made a crucial payment to the European Central Bank Thursday after receiving fresh aid from its Eurozone allies.
The European Stability Mechanism board on Wednesday said it "will provide up to 86 billion euros ($95 billion) in financial assistance to Greece over three years." Greece received the first 13 billion euros ($14.5 billion) on Thursday. That allowed it to repay its debt due to the ECB, thus avoiding a chaotic default.
The bulk of the new aid package will be used to pay down exiting debt rather than rebuilding Greece's ravaged economy. That has drawn widespread criticism that Eurozone creditors are simply repeating the same austerity policies that have led to six straight years of recession in Greece.
In order to qualify for the aid, Greece was forced to agree to a lengthy list of changes aimed at improving the way the country operates. Those changes include scraping a range of exemptions and amnesties applied in tax collections, key reforms to healthcare, and more.
Those stringent terms have left the ruling left-wing Syriza party split. The political turmoil led to Tsipras's resignation, which will clear the way for early elections.
Opinion polls suggest the widely popular Mr. Tsipras is well poised to win another term as prime minister. Still, he might need coalition partners.
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