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 an author, business owner, husband and father of two children. His vision is to broadcast the good news of Jesus Christ through blog sites and other media outlets.
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[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
And now the IMF is trying to put all the Euro debt (Greece) on their backs to make them toe the line…..Germany first, Mexico next, then 2 weeks US (Wilkerson)
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.
Exposing the lie of islam PDF The Torah Exposed PDF Exposingchristianity.com PDF free ebooks
BREAKING NEWS!(April 9th 2016) Reports are surfacing of leaked information, that IMF are intending to blackmail and force Germany to offset a big portion of Greece’s debt Greece seems to be trying to push for filing bankruptcy to get out of it all together & reset. IMF reportedly planning a credit crisis to sink Germany and Greece into further hot water,in what they claim will “help” Greece & Germany back on track. IMF also threatning to walk away from brokering this disaster which would leave Germany carring all the burden from all of this in an unpresidented way. The leader of Greece is hoping to achieve a reset /walk off scott free, or at least recieve another bail out BEFORE APril 22nd. Which is
when the IMF will review this whole disater and decide the fate of Greece,which is ultimately Germany’s. But tension is high between IMF and these EU countries. Did you guys know Britian is voting on whether to leave EU this summer,keep in mind Britian is the 2nd largest and healthiest economy in the EU after Germany! That combined with refugee influx into both Greece & Germany ,how many wooden planks can be removed before a ship sinks????
https://youtu.be/bjtkrnsBd2w
http://m.huffpost.com/us/entry/imf-greece-leak_us_57001521e4b0a06d5805ddf6
http://www.ekathimerini.com/207732/article/ekathimerini/news/greece-hopes-for-draft-deal-this-week-despite-eu-imf-rift-sources-say
Evil forces are definitely trying to bring Germany, home of the Reformation, down. Remember the the huge recall of Volkswagens, the mysterious explosions that took place in China that destroyed the Volkswagen plant, not to mention the invasion of Muslims. Germany has been a vassal of the US ever since we and the Brits carpet bombed German cities day and night in WW II. Merkel is a CIA pawn, former communist youth leader in East Germany. All of this is because our news media has been radical left wing for fifty years spinning everything.
two pertinent links related to this article:
http://theeconomiccollapseblog.com/archives/watch-japan-for-all-is-not-well-in-the-land-of-the-rising-sun
**
http://www.zerohedge.com/news/2016-04-05/deutsche-bank-dead-cat-bounce-dies-bund-yields-collapse-near-record-lows
**Latter link is from:
Greg L April 5, 2016 at 11:45 am
Here’s the lead-up to the 25th.
http://www.zerohedge.com/news/2016-04-05/deutsche-bank-dead-cat-bounce-dies-bund-yields-collapse-near-record-lows
DB collapse would take Germany down in flames since that’s about the only chef in their kitchen.
It should be noted that eastern European nation has, in fact, defaulted as of January 31, 2015. That nation is Ukraine who has officially defaulted on their loan to Russia. At the same time, Brazil is on the verge of their own financial collapse that, if this prophecy is being fulfilled, could very well happen this week. Everyone who pays heed to the prophecies of David Wilkerson should take note.
Something Is Very Wrong At Mexico’s Largest Construction Company.. http://www.zerohedge.com/news/2015-08-26/something-very-wrong-mexicos-largest-construction-company
Looks like mexico is ready to go after Germany. WE could be so close to the six months that David warns about that come after mexico defaults.
I forgot about that (Wilkerson’s) prophesy…… It is no secret MANY countries are on the precipice. Mexico’s economy has to be suffering because of the global slow down (everyone will). Mexico’s trade balance is also hurting because oil production has falling off a cliff (where have I heard that description lately). Oil production has been falling 10%+ annually. I don’t know what these bank loans are but I’ll bet they are for oil because that’s been the hot investment for years……. Now, whatever loan debts for oil Mexico has you can multiply by 100 for our own US oil debt problems. The shale oil story is nothing but another Ponzi scheme and they are going bankrupt. Truth be known, everything has been a big lie Ponzi scheme. The banks themselves have always been bankrupt. To drive the market higher companies keep buying their own stock WITH BORROWED MONEY. Does buying at the top with borrowed money sound like a problem when the market falls ? Now put all this together….. Banks already broke but hiding the fact, banks making loans to oil firms that are going broke, banks loaning money to collapsing countries, and banks loaning to companies that turn around and use the money to buy their stock at record levels……… What could possibly go wrong ?…….Now do you see the wisdom James has presented to you by buying FAZ……. Go buy more tomorrow.
This is true. When oil was high, Mexico was thinking of the unthinkable which was to sell off parts of Pemex to foreign companies since Pemex oil production is crappy for the amount of oil they have. Oil, remittances from the states, and foreign companies like Airbus, Ford and so forth keep Mexico somewhat afloat but the peso is tied a lot with higher oil prices or lower ones.
What this article says Wilkerson prophesied:(link —
http://www.ubm1.org/?page=wilkerson
It’s about to happen—very soon, one nation, and I’m speaking prophetically–if I’ve ever heard anything from God in my life, I heard it. Very soon a European or North African or Eastern nation is going to default on its international loan and when that happens, within two weeks, Mexico is going to default. (Mexico owes $100 billion — 80% of it to American banks. This was true at the time of this prophecy but Mexico’s debt now stands at $500 billion; I am not sure how much of it is held by US banks.) — and here’s what is going to happen: about two weeks after the first country goes bankrupt, (we’re going to survive that, because most of that (money of the first country) is owed to European banks—German, Swiss and French banks) but a second country is going to go down, probably Argentina or Brazil, and we’ll kind of live that down and say: “Well, maybe it’s not going to hurt,” but two weeks after the first country goes down, Mexico’s going to default.And when the banks open the next day at 9 in the morning, $15 billion an hour is going to be withdrawn from our American banks -they’re going to be running our banks—the Arabs—all the Latin American countries, they’re going to be running our banks–and before the day is over, the USA is going to have to declare a “bank holiday
article about German resistance to Greek bailout:
https://ca.finance.yahoo.com/news/german-lawmakers-debate-greek-bailout-merkel-faces-rebellion-114234171–sector.html
article about Brazil in turmoil:
http://www.bloomberg.com/news/articles/2015-08-18/from-planes-to-cafes-brazil-s-economy-on-hold-as-crisis-deepens