This article was originally posted on May 11, 2015 and is being reposted due to recent financial trouble at Germany’s largest bank, Deutsch Bank.
In my previous post, Why the Greek Drama Will Soon Become a Tragedy, I shared a prophetic vision from the late David Wilkerson in which he warned of bank runs starting in the United States within about two weeks after the first country goes bankrupt. The purpose of this post is to clarify what he meant.
With all the focus on Greece, it would be easy to assume they will be the first country to default. However, in another message David Wilkerson said he saw it starting in Germany. So we could see a scenario where Greece misses one or more loan payments without causing a financial melt-down for European banks, at least not right away. However, the losses caused by the Greek default would make it very hard for European financial institutions to absorb, which could then cause Germany’s economy to collapse. The whole system would start coming unglued.
As Europe’s largest economy, Germany has been carrying more than their fair share of the load in the European Union. Over the past five years, they have been a major contributor to bail out funds not only for Greece, but also Portugal, Italy, Ireland, and Spain. In the process, they have put themselves at risk if any of those nations default.
Today we see Greece reaching a critical point of needing additional funds to avoid a banking crisis. However, Germany cannot continue to support the weaker European nations forever. After five years of playing “extend and pretend”, the German people are weary of sending their hard-earned money to bail out other nations, especially Greece because they are not showing signs of recovering and are not complying with the terms of the loans. But now the Germans have put themselves in a predicament because they have extended so much credit to Greece that a default there could take down Germany too. Recognizing this danger, the Germans have grown increasingly reluctant to continue sending more funds. The gig is just about up.
Professional violinist Maurice Sklar shared the following prophetic insight showing Germany would play the key role in the coming financial disaster in Europe:
There is an even greater financial disaster that is falling upon Europe that will collapse the euro, cause panic and chaos there. Germany will refuse to prop up the euro any more. Basic needs in the poorer European nations will be threatened. Many will lose their money overnight as the stage is set for the financial takeover of the Antichrist system. This is imminent, and the dollar will also follow, although it will survive for a season more.
I believe we are now very close to the day when Germany will refuse to send any more bailout funds, especially to Greece. However, the big question is what happens after that?
Only the Lord knows the answer because the global economy is now in uncharted territory for at least two reasons, derivatives and debt.
- Derivatives – Never before in history have so many financial institutions exposed themselves to so much risk in the form of derivatives, which are financial products that derive all of their value from an underlying asset. Derivatives allow financial institutions to leverage their assets many times over. As a result, many investors hold a claim to the same asset while none of them actually own anything of real value. This approach works great when market values are moving up because profits are multiplied, but it is very dangerous when market values are moving down because losses are multiplied too. Large losses can force even very large banks to go bankrupt.
- Debt – Never before in history have there been so many nations in so much debt. Sovereign debt levels have increased significantly among almost all developed nations since the 2008 collapse of the housing market. The enormous debt burden makes it almost impossible to absorb the cost of any unexpected disasters.
The combination of the derivatives and debt leaves no wiggle room. Any large default could cause the global financial system could come crashing down like a house of cards.
That is exactly what David Wilkerson saw happening. In the audio message shown at the bottom of this post, he reveals the first country to go bankrupt is Germany, not Greece. So when we hear the news that Greece has missed their first loan payment to the IMF or ECB, we should not panic or run out and withdraw all of our funds from the bank. If David Wilkerson’s vision is correct, the country to watch is Germany.
We should also keep in mind the difference between missing a payment and being declared in technical default, which occurs 60 days later if the payment is still due. So there is a question about when the two-week clock starts ticking.
Yesterday a visitor to this site, named Frank, shared more information about David Wilkerson’s vision.
I thought you might like to see the results of a bit of research I’ve done, in which I found an old audio message by David Wilkerson, in which he identifies the first important European country to suffer an economic collapse: Not Greece, but Germany! (Not to say Greece won’t collapse, but read on).
To give some background, first, in his book, “The Vision,” at the beginning of chapter 1, Wilkerson states, “I see total economic confusion striking Europe first, and then affecting Japan, the United States, Canada, and all other nations shortly thereafter.”
So, the economic collapse begins in Europe. There is a slightly different version of this which is circulating on various sites on the internet, usually titled “David Wilkerson’s Economic Vision.” This is the one you quoted, where he narrates how the collapse starts in Europe, spreads to South America, then Mexico, then the U.S. Notice he again mentions Europe first, and then later, “the first country (that) goes bankrupt,” but doesn’t identify the country. Well, I did some more digging and found this audio sermon by Wilkerson:
AT EXACTLY 2:03 (see audio below) HE STATES: “It’s going to start in GERMANY!!!” After that he says it will “spread to Japan, and finally to the U.S.” I believe Greece defaulting on its loan to the EU will certainly weaken Germany, but it’s when GERMANY, the economic powerhouse of Europe, defaults, that the real clock, according to Wilkerson, starts ticking.
Greece defaulting on one or more of its future commitments to the EU/Germany may take a long time to cause a collapse in Germany; however, since so much of world commerce is interlocked, a panic resulting from a Greek default or combination of defaults could also develop very quickly. The German banking system is tottering on the brink of collapse as we speak. About a month ago, Duesseldorfer Hypothekenbank AG, a German bank, nearly collapsed after a margin call for $375 million. Deutsche Bank had a $75 trillion derivative exposure, and that was reported a year ago:
So, it wouldn’t take much to tip Germany (and other EU) countries over the edge, setting of a panic in short order. I’m thinking that if Wilkerson’s vision in this case plays out, and it sure looks that way, Greece will start defaulting on some of those debts, and the EU will be able to withstand some of these for a short while. But when Germany, considered the most financially solid of all EU countries, defaults, it will cause investors to totally lose confidence, and we will see a frenzied run on banks, a bank holiday, Cyprus-like currency reset (or worse), followed by a collapse, which then spreads worldwide.
Thanks Frank for sharing those excellent points!
Author: James Bailey
James Bailey is a blogger, business owner, husband and father of two grown children. In 1982, he surrendered his life to the Lord Jesus Christ. In 2012, he founded Z3news.com to broadcast the message of salvation by reporting end time news before it happens.
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David Wilkerson touched so many lives. It’s amazing when you look at true men of God and how many lives they touched. How they got where they were and how God used them in many ways. I was lucky enough to hear him speak at a Christian summer camp. I don’t believe he was a scheduled speaker but just showed up. He made a profound difference in my life……. His book was good also.
On ABC news today July 17th: news report says – Christine Le Guarde ( Head Of IMF.) has just stepped down from that role & now will take up a position as being Head of The European Central Bank.
I remember a video I looked @ a couple of yrs ago ..Christine Le Guarde was talking and mentioned the word Magic 7″s ..I don’t remember exactly what that was about but may re look & listen ..only The Holy Spirit can tell me what she meant by that TERM..
Interesting post re Deutsche Bank by James & all the details .Zero hedge. .etc
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I am a great believer in the PURE PROPHETIC WORD & THAT IS; IF OUR LORD SAID IT; THEN IT WILL COME TO PASS REGARDLESS OF ALL OUR HEAD KNOWLEDGE & UNDERSTANDING..INTERPRETACIONS ETC.GOD’S TIMING IN EVERYTHING IS ALWAYS PERFECT.
Magic 7 was the shemitha year cycle and a crypted message for a 2015 crash which god has prevented.
Wilkerson never said Germany will default. He said the crisis would start in Germany. The crisis will start from a derivatives meltdown. Deutschabank is highly corrupt and WAY overexposed to derivatives to the tune of $75T. The likely scenario is China will announce their massive gold holdings. Gold skyrockets. Deutschabank PM derivatives implode. The daisy chain then takes down other Euro banks and more. Europe goes. Japan goes. We go.
Great points. Thanks!
In the First year of Youngbrandts prelude Judgement economic problems start in a July , unknown year . What Wilkerson was shown lines up with what Youngbrandt & Duduman were shown . This appears to be Youngbrandts year one of the prelude judgement leading to the nuke attack on America 2-3 years latter . All three are on the money I believe , events should start to happen rapidly now , if I am correct . Blessings
[b]The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash[/b]
http://www.zerohedge.com/news/2016-09-29/run-begins-deutsche-bank-hedge-fund-clients-cut-collateral-exposure
What makes the dream even more personal is that I was born in Munich!
I just stumbled across this article and was blown away! I had a dream earlier this year that I believed revealed a collapse of Germany and I have been saying that was coming by the start of the next school year. The first part of the dream has occurred.
Regarding the recording of Rev. Wilkerson. The above message is obviously a totally different message than the one that mentions Mexico. I had a transcription of that one which was kept in the front of my finances drawer for decades (probably got lost in all the moves). That message discusses homosexual gang rampages, young people stealing everything in Macys clear to the walls in an hour’s time when people suddenly realized that their money was worthless, Mexico’s default signalling that we had two weeks to get our money out of the banks . . . i forget the other ‘agenda items’ at the moment. It would be great if anyone could get the recording of that message as well!
Hi there and greetings in the Name of Our Lord Jesus Christ of Nazareth!
Thank you for this prophecy from David Wilkerson, its amazing. I a interested in hearing what the conversation James Grubbs is discussing re CERN and the msg he received as I believe CERN is extremely occult and NOT JUST SCIENCE!
Bless you all and any word or confirmation on the following places please: Yellowstone, Petra (JORDAN) and Plano (!?) Texas? Just asking as for some reason these town names keep popping up?
Thank you and please excuse my simplicity I am not a prophet, nor a theological student bt I love Jesus and await His return and I pray that He finds me righteous and worthy to escape His wrath and His judgment!
Amen
Al
Kimberly Rogers, who lives in Jordan, released a teaching entitled The Time To Flee, in 2015. In the latter portion she explores what Scripture seems to point to as one location to which we can flee and attendant considerations. http://themessianicmessage.com/time_to_flee.htm
What did you think of the comment I emailed you. You know it reminded me of the General that retired and moved to South America that Rick Wiles told us about. I think the next month will see more of this type exodus by those able to do so but that’s my opinion. I have been gardening, canning and gather as much food as possible. My intent is to help as many as possible that are taken by surprise. My neighbors and friends around here respect me but won’t listen, repent and prepare. They can’t believe that the time is short or that things are going to be worse than 2008. It’s not hard to see what the Lord meant by blinding those who wouldn’t repent. You know whats really sad? These people aren’t stupid, actually far from stupid and that is what makes it even more difficult.
I have not seen any email from you. Sorry to say! Could you resend it using the contact us form? Sounds like you are on the right track about helping your neighbors because God will multiply it right back to you.