The world's petro-rulers, who are watching the price of oil- their life blood - plunge at a rate they have not experienced since the dreaded year 2008. Industry analysts are using phrases such as "devastation" and "severe strain" to describe what is next for the petro-states should prices plummet as low as some fear. No one is as yet forecasting a fresh round of Arab Spring-like regime implosions. But that's the nightmare scenario if you happen to run a petrocracy. The state budgets of Iran, Russia, and Venezuela, all require more than $110-a-barrel Brent prices to break even, anything less, and their economies falter.
It all lines up, first Deflation, then lawlessness breaks out, then the new currency -Revelation 13:18
Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six. Definition of 'Deflation' A general decline in prices, often caused by a reduction in the supply of money or credit. Deflation can be caused also by a decrease in government, personal or investment spending. The opposite of inflation, deflation has the side effect of increased unemployment since there is a lower level of demand in the economy, which can lead to an economic depression.
Propping up those banks, will they have time before the next disaster? -
EU leaders to vow July 9th start for ESM permanent bailout fund- June 21st, 2012
BRUSSELS - European
Union leaders will declare this week
that the euro
zone's permanent
bailout fund, the European
Stability Mechanism (ESM), will become
operational on July 9th 2012, draft
conclusions for the EU summit June
28/29, showed.
A very
contentious issue because a
banking
union, will shift power
from national regulators to a
higher authority, such as the European
Central Bank
(ECB).
"We are talking
about very intrusive powers,"
said a second diplomat close to
the discussions. "Who
will have those powers?"
Britain's
Prime Minister David Cameron has
said the UK will not join such a
scheme, which he believes should
be limited to the single
currency area.
"Not having
the UK can create lots of
problems in the future. It
would be a further step in the
drifting apart of the UK from
the rest of the European
Union" said Fabian
Zuleeg of think-tank the
European Policy center.
Mid-Point-
March
21st, 2013
God
Bless,
gail
A very contentious issue because a banking union, will shift power from national regulators to a higher authority, such as the European Central Bank (ECB).
"We are talking about very intrusive powers," said a second diplomat close to the discussions. "Who will have those powers?"
Britain's Prime Minister David Cameron has said the UK will not join such a scheme, which he believes should be limited to the single currency area.
"Not having the UK can create lots of problems in the future. It would be a further step in the drifting apart of the UK from the rest of the European Union" said Fabian Zuleeg of think-tank the European Policy center.