Nick Guarino writes in his monthly newsletter about, "The Coming $50 Trillion Derivative Wipe-Out." "Think the major banks can't go broke like they did in The Great Depression?
Think again. According to official government figures, U.S. commercial banks have a total derivative liability of $50 trillion--or five times the total Gross Domestic Product of the U.S. economy."
Nick says, "I've talked about derivatives for years. But never in my worst nightmares did I imagine the reckless, insane, compulsive gambling the nations major banks have indulged in over the past few years would get this far out of hand."
"Derivatives used to be a $1 trillion dollar a day casino. Now it's a $3 trillion a day casino. All the major banks --where a lot of people keep their life savings -- are out there gulping down shots of whiskey as they lay down stacks of $50 billion chips on high-risk futures, options, swaps and other leveraged securities."
Not too long ago a huge, old bank over in England lost everything in this giant, floating crap game and had to close its doors.
Friend, your and my financial future is at stake in all of this. We are also at jeopardy with a collapsing stock market and huge companies taking out bankruptcy (who will never recover). Enron, Worldcom, K-Mart and many, many others.
Why is all of this happening? you may ask. Open your Bibles and read the story of how God, under Moses leadership brought the Children of Israel out of Egypt to the land of Caanan (now Israel). Why did God tell Israel to put to death every man woman and child inhabiting the land (known as Caananites). Because, "The cup of their iniquity was full and overflowing."
Why is God letting all of this happen in the world today? Isn't it because "the world's cup of iniquity is full and overflowing."? God is about to turn this old world over to Satan, so he can have his five minutes of fame.
But before Satan can bring about its total destruction, Jesus Christ will come back and set up His kingdom, "Wherein dwelleth righteousness."
Friend, we may have some very hard times to go through in the next few years or we may be raptured and taken up to Heaven very shortly (this year?).
For those of you who do not know Jesus Christ as your personal Savior, the 3rd jeopardy is the worst of all. Open up your Bible and read John 3:16-18. God so loved the world that He gave the most precious gift He could give, the gift of His son Jesus to buy us back out of the slave-market of sin.
He that believeth (on Jesus as Savior) is not condemned, BUT he that believeth not is condemned already (will go to Hell) because he hath not believed in the name of the only begotten Son of God. Heaven can be yours if you believe on and ask Jesus Christ into your life as YOUR Savior. Won't you do it today?