THE MARK OF THE BEAST IS NOT TOO FAR OFF

The biggest asset bubble in history and booms always bust.

U.S Household Net Worth As A Percent of GDP - 11-07-19

In expectation of the next bust, there was this warning from the ‘central bank of central banks’…

Bank for International Settlements (BIS) chief Agustin Carstens has urged top central banks to preserve their ammunition for more serious economic downturns rather than deplete it chasing higher growth.

How much interest rate ammo does the IMF think the average central banker should have in reserve?

Severe recessions have historically required 3–6 percentage points cut in policy rates.

And as if we didn’t already know, the IMF tells us…

If another crisis happens, few countries would have that kind of room for monetary policy to respond.

Without the three–six percentage point buffer, how do our central banker bandits get out of this pickle?

Back in February 2019, the IMF released a paper titled…

Cashing In: How to Make Negative Interest Rates Work

The obvious problem with negative rates is that no one wants to be charged to deposit their funds with a bank…it goes against everything we’ve grown up with.

Better to take out the cash out and keep it under the mattress or in a safe-deposit box.

The banks are well aware that customers have this option…and have used this option.

This has been the experience in Europe. In their efforts to discourage customers from withdrawing cash, banks have been caught in a real bind.

The banks have elected to not pass on the negative rates to customer accounts…instead, they’re absorbing the costs. Not good for the bottom line. Hence, we can expect to see more Deutsche Bank scenarios; “European banking giant axes 18,000 jobs” BBC News,  10th July 2019.

The system has become so dependent on debt and central bank intervention that it’s incapable of functioning on its own.

The dire economic and social consequences of a collapsing system will force policy makers to act…do something, do anything.

And that something and anything, is most likely going to be deeply negative rates and the monetising of government deficits.

Modern Monetary Theory is nothing more than printing money to finance government deficits…allowing governments to go on an unlimited spend-a-thon.

Of course, we’ll be told this officially counterfeited money will be spent responsibly. The chaos we see unfolding in our time is exactly what God has told us in His Word will happen in the “end times”. Jesus said, “See, I have told you beforehand.” Matthew 24:25

Much of this post was taken from the article; “A Glimpse into the Future… It’s nor pretty” 10th July, 2019 by Vern Gowdie editor of The Rum Rebellion.

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