Thursday 26 June 2014

HERE IS THE VIDEO OF NEVILLE STEPHENS FROM THE PWMI SPEAKING AT "TURF" IN CROSS KEYS LAST WEEK ON THE CONTROVERSIAL SUBJECT OF "THE WATCHERS, THE FALLEN ANGELS, AND THE NEPHILIM".

WHO ARE THE ANGELIC BEINGS BEHIND THE UFO PHENOMENON? (ALSO SEE THE ABOVE VIDEO PRESENTATION).

BELOW IS AN INTRIGUING VIDEO DISCUSSION BY L.A.MARZULLI WITH HOST GARY STEARMAN ON HIS "PROPHECY IN THE NEWS TV PROGRAMME".

FOR YOUR INFORMATION, WE DID A SIMILAR PROGRAMME AT "TURF" IN CROSS KEYS LAST WEEK WHEN NEVILLE STEPHENS DID A POWERPOINT PRESENTATION ON VERY SIMILAR DEMONIC ACTIVITIES! WE HAVE POSTED IT ABOVE BY POPULAR REQUEST.

New post on These Christian Times

CLOAK OF SECRECY: Who Are The Angelic Beings Behind The UFO Phenomenon?

by joecruzmn
Ephesians 6:12- For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
 Has a race of Aliens traveled an ocean of stars to Planet Earth? Who are these Angelic beings behind the control of these vehicles? Is there a connection between the Nephilim and the Aliens who fly these UFO’s? What do these beings want from us? More evidence is accumulating that that the Alien Phenomenon isn’t what it seems. Would you be ready for the deceptive lie that will ensnare the world and shatter the belief in God? Deception is the end game and the world is walking towards it with an uncomprehending mind!  

Friday 20 June 2014

"THE LAODICEAN CHURCH ON DISPLAY" BY THE ALWAYS READABLE TERRY JAMES FROM RAPTURE READY.

Nearing Midnight: Laodicea on Display – Terry James

Prophecy coming to fulfillment was on full display while America’s number-one Christian preacher-in terms of numbers he draws to his events-gave the many thousands in attendance his version of “hope” for their lives.

Joel Osteen wrapped up his confirmation of this “hope” that resides within each by having them repeat his gleefully shouted words.

(I paraphrase, because I couldn’t find a transcript of the TV program.)

He said with a toothy smile, while holding up a Bible, “Repeat what I say!

He then proceeded:

 “I am favored by God!” (The audience jubilantly repeated the words.)
“I am special!”
 “I am destined for something great!”
 “I am important!”
 “I am deserving of all things good!”
 “I will overcome all problems!”
 “I will defeat all depression!”
 “I will take control of my own destiny!”

You get the point. This went on for many such “”I wills” and “I ams.” The many thousands were in rah – rah ecstasy by the time the head cheerleader concluded.

I heard no mention in Mr. Osteen’s sermon, I guess you could call it, of any of the “I wills and I ams” giving glory to the one who makes hope possible. I heard nowhere America’s most popular pastor of the moment mention the biblical “hope” that is in reality at the heart of the Christian’s glorious destiny-salvation from soul-destroying sin through the shed blood of the only begotten Son of God.

Instead, I heard the glorification of self, and how good everyone is, and how deserving everyone in attendance was to receive the very best God is obligated to bestow.

More troubling, as the program came to an end, was the perception that the “I wills and I cans” the mesmerized thousands shouted, repeating Osteen’s words of self-praise, reminded me of the “I wills” of Isaiah 14:13-15: “For thou hast said in thine heart, I will ascend into heaven, I will exalt my throne above the stars of God: I will sit also upon the mount of the congregation, in the sides of the north. I will ascend above the heights of the clouds; I will be like the most High.”

Jesus, resurrected and at the right hand of His Father, gave John, who penned Revelation, a vivid picture of the church that will, literally, make Him sick. That church was the last one the Lord addressed while going through the seven churches of the Church Age: And unto the angel of the church of the Laodiceans write; These things saith the Amen, the faithful and true witness, the beginning of the creation of God; I know thy works, that thou art neither cold nor hot: I would thou wert cold or hot. So then because thou art lukewarm, and neither cold nor hot, I will spue thee out of my mouth. Because thou sayest, I am rich, and increased with goods, and have need of nothing; and knowest not that thou art wretched, and miserable, and poor, and blind, and naked. (Revelation 3:14-17)

The Laodicean church bases its thoughts and actions on terms of 1) self-glorification and 2) physical prosperity, i.e., wealth. This end-of-days’ church is “lukewarm”; that is, it is tepid so far as teaching and preaching the gospel. This church preaches and teaches that people are good and deserving of God’s total blessings and adoration. It does not teach and preach that people are not good, that they are lost in sin, thus need a Savior.

The Laodicean church teaches and preaches that all is well, if money and physical comforts are in abundance. That prosperity is the key to a glorious future is the message sweet to the taste of those who sit in its luxuriant pews. It appeals to self, the same as did the serpent to Eve in Eden.

Another prophecy of Jesus comes into view when we consider the great moral degradation that has taken place in the last half-century. The prophecy is in line with the Laodicean church that, in my opinion, constitutes the majority of so-called Christendom today. Jesus, in His Olivet Discourse, forewarned first and foremost of deception which would mark the time just before His return. Many would, He warned, come in His name, proclaiming themselves to have Christ within themselves-to belong to Him. They would be deceiving themselves and those who followed them, according to what I see in my study of Paul’s words that in the last days evil men and seducers would come, deceiving and being deceived (2 Timothy 3:13).

Again, the apostle Paul put his prophetic finger on our time, and, I’m convinced, the sugary, feel-good sermonettes, the likes of which preachers like Mr. Osteen pour into the itching ears of today’s Laodiceans: “For the time will come when they will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears; And they shall turn away their ears from the truth, and shall be turned unto fables” (2 Timothy 4:3-4).

Questions that must be addressed are: Where is the proof that this coming forth of a more sinner-friendly church has done harm rather than good? What’s the harm in embracing all sinners and bringing them into the fold, without the condemnation that the Bible passages on sin throws at them? Isn’t Jesus a Lord of love and all-inclusiveness? Isn’t that accusation of Christianity’s “intolerance” the thing that brings the disdain of the world for the very name of Jesus Christ?

All that has to be said to answer the above is: Churches of America have indeed increasingly moved away from pointing at sin as requiring condemnation and sinners as requiring redemption. The result has been that the increased inclusiveness-this greater toleration of sinfulness, in concert with every imaginable evil gushing from Internet debauchery–has produced a society and culture rivaling that of Sodom and Gomorrah.

A recent article outlined some problems stemming from the church shirking responsibility in America.

The divorce rate has doubled, teen suicide has tripled, reported violent crime has quadrupled, the prison population has quintupled, the percentage of babies born out of wedlock has risen sixfold, couples living together out of wedlock have increased sevenfold, and gay marriage is now a legalized reality in a number of states, with many believing the end is not in sight. (Bert M. Farias, “The Great Deception in American Church,” Charisma News)

Paul prophesied as recorded in 2 Thessalonians chapter 2 that the Restrainer, resident within the church, would one day be removed from planet earth. Antichrist and complete lawlessness will then rule the world when the true church-all born-again believers-are called into Heaven.

The Laodicean church now on display, as forewarned by Jesus, Himself, surely must be a major indicator of where this generation stands on God’s prophetic timeline.

Sunday 15 June 2014

SOME GREAT IN-DEPTH READING MATERIAL FOR THE WEEKEND HERE FROM "THE RAPTURE FORUMS NEWSLETTER".

Rapture Forums Newsletter
          
Rapture Forums
Welcome to the Rapture Newsletter for 6/15/2014
 
Greetings in the name of the Lord Jesus Christ!
 
We have a new Rapture Forums Newsletter for your viewing pleasure. Please feel free to forward these emails to all your friends and family as well as to anyone else you think might enjoy them. 
 
A few newsletters ago we asked for folks to donate to Rapture Forums for our summer donation drive. We had several donations and we appreciate greatly those folks who helped us keep the ministry going. However, we were only able to raise about $600 for the 3 month period. This is well short of the $3,000 goal that we set to help support the site and the time it takes to keep this ministry active and thriving. While Rapture Forums has become one of the largest Bible prophecy website on the Internet, we have increased our reach across America as well as across the world. We update the website daily and add numerous articles each day. In order to do this, we need your help. We simply can't do this alone. While the time is closing before the rapture, the time to make eternal donations into your "heavenly bank accounts" is closing with each day. As the Bible tells us, "store up treasure in Heaven where moth and rust does not corrupt". Please pray about coming aboard with us and help us with the expenses we need to help keep this ministry up and running while there is still time to make a difference for the Lord. Time is short and there are souls to be won. 
 
 
God bless you all.
 
Chris Schang
Rapture Forums
The Latest Bible Study and Featured Commentary
 
This is a partial list of recently added article to Rapture Forums for the week. Please view the complete list by clicking here
 
No One Knows The Day Or The Hour --- click here for more...
 
Warnings About Riches: Old Testament --- click here for more...
 
What to do When Forced to Perform 'Gay Weddings' --- click here for more...
 
Just What Is Evil? --- click here for more...
 
Forum on the Millennium: Spiritual Versus Earthly Kingdoms --- click here for more...
 
Military Bases: Obama's New Illegal Alien Dumping Grounds --- click here for more...
 
Iran: 'We Won. The Americans Have Lost It.' --- click here for more...
 
The New York Times Defends Al-Qaeda --- click here for more...
 
U.S. Defunding the Palestinian Authority? --- click here for more...
 
Hezbollah and Israel's Lawyers-in-Chief --- click here for more...
 
Who Lost Iraq? --- click here for more...
 
The Bible According to Hollywood - Part 2 --- click here for more...
 
The Amazing Complexity of Life --- click here for more...
 
A Lie Can Be So Destructive! --- click here for more...
 
Train Up A Child In The Way He Should Go --- click here for more...
 
Buckle Your Rapture Seat Belts - Part Three --- click here for more...
 
Churches ORDERED to Perform Sodomy-Based Wedding Ceremonies --- click here for more...
 
 
The Plan of Salvation
 
If you or someone you know needs to be saved. Please click the link below for the Plan of Salvation:
 
 
 
Thank You For Being A Part of Rapture Forums!
 
We hope you have enjoyed this edition of Rapture Forums Newsletter. We have enjoyed watching for the return of the Lord Jesus Christ with you!! 
 
As always, keep looking up, our redemption is drawing nigh!
 
God bless you all!
 
Chris Schang
Rapture Forums
 

Thursday 12 June 2014

THE DECLINE OF AMERICA CONTINUES AS RUSSIA ABANDONS THE DOLLAR IN FAVOUR OF THE EURO FOR THEIR MEGA GAS DEALS!

Russia Is Doing It – Russia Is Actually Abandoning The Dollar

Vladimir PutinThe Russians are actually making a move against the petrodollar.  It appears that they are quite serious about their de-dollarizationstrategy.  The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments for natural gas from U.S. dollars to euros.  And Gazprom would have never done this without the full approval of the Russian government, because the Russian government holds a majority stake in Gazprom.  There hasn't been a word about this from the big mainstream news networks in the United States, but this ishuge.  When you are talking about Gazprom, you are talking about a company that is absolutely massive.  It is one of the largest companies in the entire world and it makes up 8 percent of Russian GDP all by itself.  It holds 18 percent of the natural gas reserves of the entire planet, and it is also a very large oil producer.  So for Gazprom to make a move like this is extremely significant.
When Barack Obama decided to slap some meaningless economic sanctions on Russia a while back, he probably figured that the world would forget about them after a few news cycles.
But the Russians do not forget, and they certainly do not forgive.
At this point the Russians are turning their back on the United States, and that includes the U.S. dollar.
What you are about to read is absolutely stunning, and yet you have not heard about it from any major U.S. news source.  But what Gazprom is now doing has the potential to really shake up the global financial landscape.  The following is an excerpt from a news report by the ITAR-TASS news agency...
Gazprom Neft had signed additional agreements with consumers on a possible switch from dollars to euros for payments under contracts, the oil company's head Alexander Dyukov told a press conference.
"Additional agreements of Gazprom Neft on the possibility to switch contracts from dollars to euros are signed. With Belarus, payments in roubles are agreed on," he said.
Dyukov said nine of ten consumers had agreed to switch to euros. And Gazprom is not the only big company in Russia that is moving away from the U.S. dollar. According to RT, other large Russian corporations are moving to other currencies as well...
Russia will start settling more contracts in Asian currencies, especially the yuan, in order to lessen its dependence on the dollar market, and because of Western-led sanctions that could freeze funds at any moment.
Over the last few weeks there has been a significant interest in the market from large Russian corporations to start using various products in renminbi and other Asian currencies, and to set up accounts in Asian locations,” Pavel Teplukhin, head of Deutsche Bank in Russia, told the Financial Times, which was published in an article on Sunday.
Diversifying trade accounts from dollars to the Chinese yuan and other Asian currencies such as the Hong Kong dollar and Singapore dollar has been a part of Russia’s pivot towards Asian as tension with Europe and the US remain strained over Russia’s action in Ukraine .And according to Zero Hedge, "expanding the use of non-dollar currencies" is one of the main things that major Russian banks are working on right now. Andrei Kostin, chief executive of state bank VTB, said that expanding the use of non-dollar currencies was one of the bank’s “main tasks”. “Given the extent of our bilateral trade with China, developing the use of settlements in roubles and yuan [renminbi] is a priority on the agenda, and so we are working on it now,” he told Russia’s President Vladimir Putin during a briefing. “Since May, we have been carrying out this work.”  “There is nothing wrong with Russia trying to reduce its dependency on the dollar, actually it is an entirely reasonable thing to do,” said the Russia head of another large European bank. He added that Russia’s large exposure to the dollar subjects it to more market volatility in times of crisis. “There is no reason why you have to settle trade you do with Japan in dollars,” he said. 

So in March, without waiting for the sanction spiral to kick in, Russians yanked their moolah out of US banks. Deposits by Russians in US banks suddenly plunged from $21.6 billion to $8.4 billion. They yanked out 61% of their deposits in just one month! They'd learned their lesson in Cyprus the hard way: get your money out while you still can before it gets confiscated.
For those that don't think that all of this could hurt the U.S. economy or the U.S. financial system, you really need to go back and read my previous article entitled "De-Dollarization: Russia Is On The Verge Of Dealing A Massive Blow To The Petrodollar".  The truth is that the U.S. economic system is extremely dependent on the financial behavior of the rest of the globe.
Because nearly everyone else around the rest of the planet uses our currency to trade with one another, that keeps the value of the U.S. dollar artificially high and it keeps our borrowing costs artificially low.
As Russia abandons the U.S. dollar that will hurt, but if other nations start following suit that could eventually cause a financial avalanche.
What we are witnessing right now is just a turning point.
The effects won't be felt right away.  So don't expect this to cause financial disaster next week or next month.
But this is definitely another element in the "perfect storm" that is starting to brew for the U.S. economy.
Yes, we have been living in a temporary bubble of false stability for a few years.  However, the long-term outlook has not gotten any better.  In fact, the long-term trends that are destroying our economic and financial foundations just continue to get even worse.
So enjoy the "good times" while you still can.
They certainly will not last too much longer.

Wednesday 11 June 2014

FALSE BIBLE TEACHER AND APOSTATE JOEL OSTEEN CHARGES $850 TO LISTEN TO HIS SMILING ANECDOTES AND "INSPIRATIONAL" TEACHING WHICH IS SO FAR AWAY FROM THE TRUE GOSPEL OF OUR LORD JESUS CHRIST!

New post on Now The End Begins

Joel Osteen Prosperity Gospel Revival Show Hits $850 For Top Ticket Price

by NTEB News Desk

Living his best life now for sure

"And unto the angel of the church of the Laodiceans write; These things saith the Amen, the faithful and true witness, the beginning of the creation of God; I know thy works, that thou art neither cold nor hot: I would thou wert cold or hot. So then because thou art lukewarm, and neither cold nor hot, I will spue thee out of my mouth." Revelation 3
Whether you are a fan of the motivational speaker from Texas or not, one thing is absolutely for certain. Joel and Victoria Osteen are, without a doubt, living their best life now.
joel-osteen-night-of-hope-christian-con-artists-church-laodicea-great-falling-away-best-life-now
"Because thou sayest, I am rich, and increased with goods, and have need of nothing; and knowest not that thou art wretched, and miserable, and poor, and blind, and naked:" Revelation 3
In the days before Christianity became the Church of Laodicea prophesied in the 3rd chapter of the book of Revelation, there were mighty men of God, great, Holy Spirit filled preachers who traveled the world setting up tents and seeing souls get saved. Men likeDL Moody and Billy Sunday who pounded the sawdust trail looking for lost sinners.
That day is not our day. Not even close.
Joel Osteen's version of the old-fashioned tent revival meetings are glitzy affairs attended by the upper-crust of society. With tickets prices being (yes, they charge you to come) starting at over $100.00 and going all the way up to $850.00, you would have to be pretty well of to afford to even walk through the door.
joel-osteen-night-of-hope-christian-con-artists-church-laodicea-great-falling-away-best-life-now-ticket-prices-1
"What is my reward then? Verily that, when I preach the gospel, I may make the gospel of Christ without charge, that I abuse not my power in the gospel." 1 Corinthians 9:18
This is light years removed from the day where the preacher raised all the money for the revival and depended completely on the love offerings from God's people to pay the expenses.
joel-osteen-night-of-hope-christian-con-artists-church-laodicea-great-falling-away-best-life-now-ticket-prices-2
"What is my reward then? Verily that, when I preach the gospel, I may make the gospel of Christ without charge, that I abuse not my power in the gospel." 1 Corinthians 9:18
It is well within your right to be a fan of this man's message, such as it is. Also within your rights to spend your hard-earned money to increase the size of his bank accounts. But do not call this man a preacher of the Gospel of Jesus Christ. That he absolutely is not. He is nothing more than Tony Robbins with a Jesus fish in a $4,000 suit.
The Apostle Paul said that to charge people to hear and receive the Gospel is an abuse of the preacher's power. But Joel Osteen can breathe easy on that count - he doesn't preach the Gospel. No, where he will be held accountable will be for leading millions of people astray and to Hell with the false Prosperity Gospel.
H/T to PimpPreacher.com for ticket price photos

Tuesday 10 June 2014

RESTORING THE WONDER OF CHRIST IN OUR SPIRITUAL LIVES AGAIN BY MARK BOOTH.

New post on MarkJemilBooth's Blog

Restoring the Wonder in Our Spiritual Lives

by markjemilbooth
His Name is Wonderful
Do you remember when you first became a Christian? Everything was new. The Bible was like an open book filled with treasures. Prayer was an exciting experience as we spoke to the Living God. Singing in church and hearing the Word of God was a fresh new blessing. Everything about God, the Word and the Christian life produced great wonder in our hearts.
As the years have passed, have we lost the wonder? Do we now read the Word; so we won't feel guilty? Is prayer a habit without any fervency? Has church become a bore? We know that we are saved, but have we lost the wonder of God? Without the wonder, our Christian life loses its excitement, joy and delight.
Have we lost the wonder of His person? "For unto us a child is born, unto us a son is given: and the government shall be upon his shoulder: and his name shall be called Wonderful, Counsellor, The mighty God,The everlasting Father, The Prince of Peace." (Isaiah 9:6) His name is called "Wonderful". There are several ways that His very person should naturally create wonder in our hearts.
  1. The Wonder of His Deity
  2. The Wonder of His Incarnation
  3. The Wonder of His Names
  4. The Wonder of His Love
Have we lost the wonder of His Word? "Open thou mine eyes, that I may behold wondrous things out of thy law." (119:18) The Psalmist understood how easy it is to take the Word of God for granted. His prayer was that he would once again approach the Word of God with great wonder. We find it easy to casually read the Word. We approach the Word like a textbook instead of retaining the wonder that God is actually speaking to me! Here are some ways that the Word of God creates wonder in our hearts.
  1. The Wonder of His Truth
  2. The Wonder of His Promises
  3. The Wonder of His Commands
  4. The Wonder of His People.
Have we lost the wonder of His works? "For thou art great, and doest wondrous things: thou art God alone." (Psalm  86:10) Many of us have heard the Bible stories since we were children. When we read about God's works in the Bible, we no longer view them with childlike wonder. This lack of wonder causes our faith to diminish. When we look at God's works from a fresh perspective the wonder will be restored. Here are some of His works that we can view with renewed wonder.
  1. The Wonder of His Creation
  2. The Wonder of His Salvation
  3. The Wonder of His Miracles
  4. The Wonder of His Judgment
  5. The Wonder of His Providence
"Dear Lord, I find it easy to lose the wonder in my spiritual walk with you. I have lost the wonder of your person, your Word and your works. Please forgive me for this. I need to restore this wonder. Help me to view all that you are with great wonder once again. Please restore the thrill of my spiritual walk with you. Amen"

Tuesday 3 June 2014

A FINANCIAL CRASH BIGGER THAN 2008 COULD HAPPEN AS DERIVATIVES BUBBLE OVER GLOBAL ECONOMY!

          Derivatives Bubble Over Global Economy

Reports state that according to the Bank for International Settlements, the total notional value of derivatives contracts around the world has ballooned to an astounding 710 trillion dollars ($710,000,000,000,000), with other estimates putting the grand total at well over a quadrillion (a thousand trillion) dollars. Michael Snyder, writing in the DCClothesline.com, states that the global derivatives bubble is now 20 percent bigger than it was just before the last great financial crisis struck in 2008 and concludes that: “A financial crisis far greater than what we experienced in 2008 is coming, and it is going to shock the world.”

So what exactly is a derivative? One definition offered is that a derivative is simply a contract between two parties whose value is determined by changes in the value of an underlying asset. Those assets could be bonds, equities, commodities or currencies. The majority of contracts are traded over the counter, where details about pricing, risk measurement and collateral, if any, are not available to the public.

Based on this definition, Snyder explains: “In other words, a derivative does not have any intrinsic value. It is essentially a side bet. Most commonly, derivative contracts have to do with the movement of interest rates. But there are many, many other kinds of derivatives as well. People are betting on just about anything and everything that you can imagine, and Wall Street has been transformed into the largest casino in the history of the planet.”

An perspective of how just how mind –boggling the size of this 710 trillion –dollar derivatives bubble is, can be illustrated based on projections that the U.S. GDP will be in the neighborhood of around 17 trillion dollars for 2014. Although insignificant in amount relative to the total notional value of derivatives contracts globally, 17 trillion dollars still represents a major and crippling debt crisis for the United States.

Snyder states that the United States has contributed to this imminent global derivatives crisis with some of the following actions:

1. U.S leaders have allowed the derivatives bubble and the big Wall Street banks to get larger than ever. Snyder explains: “They are collectively 37 percent larger than they were just prior to the last recession. “Too big to fail” is a far more massive problem than it was the last time around, and at some point this derivatives bubble is going to burst and start taking those banks down. When that day arrives, we are going to be facing a crisis that is going to make 2008 look like a Sunday picnic.”
2. Goldman Sachs has been increasing its derivatives volumes since the crisis, and it had a portfolio of about $48 trillion at the end of 2013 and is reportedly planning to sell more derivatives to clients. Citibank, too, has been increasing its derivatives portfolio which has risen by over 65 percent since the crisis to $62 trillion. In percentage terms, this derivatives portfolio growth is the highest of any of the four banks: JP Morgan, Citibank, Goldman Sachs and Bank of America. Collectively they are responsible for about 218 trillion dollars of derivative products, compared to a paltry $4.8million estimated value of their combined assets.
3. Virtually none of the underlying problems that caused the last financial crisis have been fixed: the problems and the financial bubbles have just kept on growing. According to official government numbers, the top 25 banks in the United States now have a grand total of more than 236 trillion dollars of exposure to derivatives.

Snyder decries the fact that most Americans are blissfully ignorant of imminent disaster, trusting that their leaders are able and willing to sort out the mess, and lulled into complacency by “the bubble of false stability that we have been enjoying for the last couple of years.”

Is there any way to avert this catastrophe? Snyder infers that there may be little hope left other than a stay of execution, a temporary reprieve: “If the stock market keeps going up, interest rates stay fairly stable and the global economy does not experience a major downturn, this bubble will probably not burst for a while. But if there is a major shock to the system, we could easily experience a major derivatives crisis very rapidly and several of those banks could fail simultaneously.”

With the five largest banks reported to account for 42 percent of all loans in the entire United States, and the six largest banks controlling 67 percent of all banking assets, they would certainly bring down the whole country with them.

It’s worth remembering however that it’s not just a U.S problem either: German banking giant Deutsche Bank is said to have more than 75 trillion dollars of exposure to derivatives, which is more than any single U.S. bank has. Matters are not helped by indications that the global community seems to equally hapless in this respect.

A recent report from The International Financing Review in an article titled ‘Derivatives: Work needed to spot next crisis’ highlighted some grave concerns that were raised at the Centre for Economic Policy Studies in Brussels (excerpted below):

•There remains widespread concern within the regulatory community over their ability to spot future blow-ups due to cross-border fragmentation and the sheer volume of data being collected. According to Uzma Wahhab, member of the secretariat at the Financial Stability Board, “Regulators are concerned they may not know how to predict the next crisis. I’m not sure anyone is in the position to say they have the confidence… to know specifically what they’re looking for.”

• Trade reporting is seen as a vital plank of the G20 reforms to help regulators identify AIG-like scenarios, but the practical implementation of the mandate has left many participants disillusioned. Rather than designating a single trade reporting utility to which global regulators enjoy unfettered access, around 20 trade repositories have sprung up worldwide, leading to issues around data fragmentation and potential duplication.

• Discrepancies in privacy laws and financial regulation across jurisdictions have caused further headaches. For instance, the European Market Infrastructure Regulation requires two-sided trade reporting for both futures and OTC transactions, while the US Dodd-Frank Act holds no such provision. The overall result is a complex web of reporting entities and venues, which leaves substantial room for overlap of data, or for it to slip through the cracks altogether.

Not a pretty picture. What hope is there to forestall any doomsday scenarios, when even global experts seem to be grasping at straws and seem more reminiscent of the language-confused builders of the historic Tower of Babel rather than capable solution providers who are in control?

No wonder Snyder commented: It is a financial bubble far larger than anything the world has ever seen, and when it finally bursts it is going to be “a complete and utter nightmare for the financial system of the planet.”

Read more at http://www.prophecynewswatch.com/2014/June03/035.html#SlZuwSMxf6jiTdCP.99