IMF warns of global meltdown!

IMF in global ‘meltdown’ warning

 

 (see Bob’s comment below this BBC article)

 

BBC 11th October

IMF in Global ‘meltdown’ warning

 

The world financial system is teetering on the “brink of systemic meltdown”, the head of the International Monetary Fund (IMF) has warned in Washington.

Dominique Strauss-Kahn said the crisis was being fanned by fears over debt-ridden banks but added rich nations had so far failed to restore confidence.

He spoke after talks with US President George W Bush, Group of Seven (G7) finance ministers and the World Bank.

Mr Bush said the global economic crisis needed a united international response.

Speaking in the US capital on Saturday, Mr Strauss-Kahn said: “Intensifying solvency concerns about a number of the largest US-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown.”

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George Bush says the US will lead the response to the crisis.

The IMF chief was joined at the White House by finance ministers from the G7 most-industrialised nations (the US, Canada, France, Germany, Britain, Italy and Japan), as well as World Bank President Robert Zoellick. Following talks with the economic leaders, Mr Bush said: “We must ensure the actions of one country do not contradict or undermine the actions of another. “In an interconnected world, no nation will gain by driving down the fortunes of another. We are in this together. We will come through it together.”

Panic selling

The meeting came a day after Asian, European and US markets continued to panic sell despite rate cuts and cash injections by central banks, amid widespread fears of a global recession.

Late on Friday, US Treasury Secretary Henry Paulson said the US planned to invest directly in banks for the first since the 1930s, following a similar UK programme of partial bank nationalisation.

The G7 had earlier not ruled out adopting another part of the British plan – to guarantee borrowing between banks – as they issued a five-point communique in Washington.

 

[We must] redirect the markets so that they serve the people, and not ruin them
Angela Merkel
German Chancellor

 

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/7665515.stm
Published: 2008/10/11 18:11:36 GMT

 

_____________________________________________________________________________________

Bob’s comment:

 

Don’t be fooled disciples; THIS IS ALL ORCHESTRATED CHAOS! It is orchestrated by the New World Order to rid the world of disciples of Christ and God’s influence over the lives of mankind. How foolish they are and the Lord Himself will undo them! 

Just last week I quoted Psalm 2:4-6 about God laughing at mankind and their desire to control their destiny.

Why did I refer to that passage? Because of what is written before it in Psalm 2:1-3. Now it is time to quote those passages because this news today highlights that man is still trying to be God and hallelujah, we are getting in their way!

Psalm 2:1-3, “Why do the nations rage, and the people plot a vain thing? 2. The kings of the earth set themselves, and the rulers take counsel together, against the Lord and against His anointed, saying, 3. “Let us break Their bonds in pieces and cast away Their cords from us”. “

 

What’s next?

The worst possibilities are:

1. The banking system will be crashed worldwide in days.

2. All currencies of the world will be negated. Cash will be useless.

3. A new global financial system will be introduced based on credits, not cash.

4. All debts will be forgiven. 

5. Access to the credits to live by and negated debt, will only be available to those who align with the New World Order.

6. Chaos and war with Iran will create fear on a scale never seen before and all public gatherings, especially religious ones, will be outlawed.

7. Laws, already signed into legislation but never implimented over the last 40 years by western parliaments and which grant the UN rights over food, fibre, minerals and families, will be enacted.

 

I think I will stop there, as I am sure you don’t want to hear much more.

Bob

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