On April 12th, it was announced that Spanish banks increased their borrowing from the ECB (European Central Bank) by over 50% in March. It was also announced that their holding of Spanish government debt increase. Spanish banks increased their borrowing from the ECB by about 75 billion Euros and they increased their holdings of Spanish government bonds by about 50 billion Euros. Not only are many Spanish banks de facto bankrupt as they are locked out of the money markets and are forced to borrow from the ECB, but they are acting like crack fueled gambling addicts and increasing their leverage to buy more highly risky Spanish government debt. This so superbly illustrates the insanity that has engulfed those responsible for the massive problems in the financial world. The ECB and the Fed are as culpable as the greedy bankers and irresponsible governments. The central banks will most likely keep printing money as governments are unwilling to pay the costs to defaulting on their debt and the subsequent collapse of their domestic banking system — even without the Spanish government defaulting on their debt, the Spanish banking system would collapse without the special ECB funding.
In the end, perhaps it will the simultaneous collapse of government finances and the private banking sector that will usher in a new monetary system where all banks are controlled by the government, cash transactions will be halted, paper money no longer printed, and the Mark will required for all transactions. This would represent the loss of economic freedom and the intrusion of government into every aspect of people’s lives.
Not every nation will share such a fate — only the 10 nations that will fall under the sway of the Anti-Christ. Believers in each country must fight to try and keep their country away from the dominion of the Beast. Those in the European Union must become involved in the political process to stop the children of the Beast, and have their country withdraw from the Euro block. It seems ironic that the problem nations like Greece, Spain, and Italy have the greatest chance of leaving the Euro, and thus have the best chance to escape from the Beast. It is up to the Believers to fight for their freedom as the children of the Beast are working so hard to usher in his rise.