Roundtable Discussion
Banking Crisis
We discuss the emerging banking crisis with the very recent failure of Silverlake, Silicon Valley Bank, Signature Bank, and now even larger and multi-national Credit Suisse. Who’s next? What’s next? Is this the big one? What to do?
Background
Sometimes it takes a Crisis: Bear market begins – May 2022 NBB discussion
More Trouble: UK Gilts, Swaps and Credit Suisse – Oct 2022 NBB discussion
Crypto Implosion: FTX fails, un”stable” coins – Nov 2022 NBB discussion
Scenario Planning – Bank runs?: – Jan 2023 NBB discussion
Relevant Articles for Recent Troubles
Smartphone run on Silicon Valley Bank – WSJ
Treasury, Federal Reserve, FDIC press release on systemic risk – Fed PR
Credit Suisse’s Death Gives Birth to New Type of Bank Crisis – WSJ
Now, those who have been with the New Breed for a while know God has been warning us about shakings coming to the US financial system and how to repent and prepare by Coming out of Babylon and entering into the Storehouse Vision. In January of this year, God impressed us to hold a “Scenario Planning” discussion. Remarkably, there were several quotes from the various scenarios which turned out to be prophetic:
Select Quotes from NBB January 2023 Scenarios
“The Fed tries to keep raising interest rates to tamp inflation, but now all sorts of unintended consequences arise.”
“People panic and a run on the banks ensues.”
“A new global financial crisis emerges and US banks close… when the banks reopen the government bails-in the banking system.”
“the Fed reverses course [on interest rates].”
Actual Headlines
US regulators bail out Silicon Valley Bank customers (Business Insider – March 13, 2023)
Fed’s Tightening Plans Collide With SVB Fallout (Heard on the Street, WSJ – March 14, 2023)
Remarkably, the 3 hypothetical scenarios touched on MUCH OF WHAT IS GOING ON RIGHT NOW. Praise God for the preparation of his people.
“Surely the Sovereign LORD does nothing without revealing his plan to his servants the prophets.”
Amos 3:7
Prophetic Word from 2008
Just as it looked like there was light at the end of the tunnel during the 2008 financial crisis (after TARP, bailouts, Lehman’s failure, etc.), I felt the Lord say:
“this is not the end – it is only the beginning of the end”.
With that He gave me Ezekiel 29-32, a section of scripture known as the “Coming judgment of Egypt”.
This is also known as the “seven-fold judgment against Egypt”
There is a timeframe in this passage of 40 years
And I felt like the Lord was saying this is coming in waves of shaking – possibly 7 waves or a ‘complete set’ of waves, which started in 2001:
2001 911 Attacks
2007-9 Financial Crisis
2020 Covid19
2022-23 the emerging banking crisis…
Further, I felt the Lord was saying the US led Global Financial Markets and Banking (ie, Milton Freedman’s clinical capitalism) were likened to the pride of “Pharaoh” and the strength of “Egypt” and was being judged accordingly.
The main sins of Egypt were: pride, self-interest, self-made man, worship of man’s hands (eg, technology), military power, idolatry of money, exploitation of the poor, etc. AND the seduction of the Church (Israel) into all of the same.
This passage has several prophetic keys:
Ezekiel 29: 3-9
“Pharaoh king of Egypt,
the great dragon that lies
in the midst of his streams,
that says, ‘My Nile is my own;
I made it for myself.’
I will put hooks in your jaws,
and make the fish of your streams stick to your scales;
and I will draw you up out of the midst of your streams,
with all the fish of your streams
that stick to your scales.
And I will cast you out into the wilderness,
you and all the fish of your streams;
you shall fall on the open field,
and not be brought together or gathered.
To the beasts of the earth and to the birds of the heavens
I give you as food.
Then all the inhabitants of Egypt shall know that I am the Lord.
“Because you have been a staff of reed to the house of Israel,
when they grasped you with the hand, you broke and tore all their shoulders;
and when they leaned on you, you broke and made all their loins to shake.
Therefore thus says the Lord God: Behold, I will bring a sword upon you,
and will cut off from you man and beast,
and the land of Egypt shall be a desolation and a waste
Then they will know that I am the Lord.
Deutsche Bank Next?
Is Deutsche Bank next?
AT1 bonds are a newfangled instrument that changes the capital structure. Dubbed bail out bonds, the bonds aren’t worth anything if the bank fails through central bank bailout or government takeover.
What to Do?
As always, we will discuss how the Storehouse Vision is already directly addressing these financial judgments through repentance/reformation, and by bringing believers together in community to “love one another” which means to invest in one another. The question is not: how do I preserve my wealth? But: What is God saying in the midst of this shaking and how do I respond to come into alignment with heaven?
In that way “there shall be no poor among you”
Deut 15:4 & Acts 4:34
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