OLD WORLD OUT..NEW WORLD IN!WE ARE WITNESSING THE COLLAPSE OF WHITE POWER

Société Générale tells clients how to prepare for potential ‘global collapse’
Société Générale has advised clients to be ready for a possible “global economic collapse” over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.

By Ambrose Evans-Pritchard
Published: 6:12PM GMT 18 Nov 2009

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Explosion of debt: Japan’s public debt could reach as much as 270pc of GDP in the next two years. A bullet train is pictured speeding past Mount Fuji in Fuji city, west of Tokyo Photo: Reuters In a report entitled “Worst-case debt scenario”, the bank’s asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.

Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of “deleveraging”, for years.

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‘Debt levels risk another crisis’ “As yet, nobody can say with any certainty whether we have in fact escaped the prospect of a global economic collapse,” said the 68-page report, headed by asset chief Daniel Fermon. It is an exploration of the dangers, not a forecast.

Under the French bank’s “Bear Case” scenario (the gloomiest of three possible outcomes), the dollar would slide further and global equities would retest the March lows. Property prices would tumble again. Oil would fall back to $50 in 2010.

Governments have already shot their fiscal bolts. Even without fresh spending, public debt would explode within two years to 105pc of GDP in the UK, 125pc in the US and the eurozone, and 270pc in Japan. Worldwide state debt would reach $45 trillion, up two-and-a-half times in a decade.

(UK figures look low because debt started from a low base. Mr Ferman said the UK would converge with Europe at 130pc of GDP by 2015 under the bear case).

The underlying debt burden is greater than it was after the Second World War, when nominal levels looked similar. Ageing populations will make it harder to erode debt through growth. “High public debt looks entirely unsustainable in the long run. We have almost reached a point of no return for government debt,” it said.

Inflating debt away might be seen by some governments as a lesser of evils.

If so, gold would go “up, and up, and up” as the only safe haven from fiat paper money. Private debt is also crippling. Even if the US savings rate stabilises at 7pc, and all of it is used to pay down debt, it will still take nine years for households to reduce debt/income ratios to the safe levels of the 1980s.

The bank said the current crisis displays “compelling similarities” with Japan during its Lost Decade (or two), with a big difference: Japan was able to stay afloat by exporting into a robust global economy and by letting the yen fall. It is not possible for half the world to pursue this strategy at the same time.

SocGen advises bears to sell the dollar and to “short” cyclical equities such as technology, auto, and travel to avoid being caught in the “inherent deflationary spiral”. Emerging markets would not be spared. Paradoxically, they are more leveraged to the US growth than Wall Street itself. Farm commodities would hold up well, led by sugar.

Mr Fermon said junk bonds would lose 31pc of their value in 2010 alone. However, sovereign bonds would “generate turbo-charged returns” mimicking the secular slide in yields seen in Japan as the slump ground on. At one point Japan’s 10-year yield dropped to 0.40pc. The Fed would hold down yields by purchasing more bonds. The European Central Bank would do less, for political reasons.

SocGen’s case for buying sovereign bonds is controversial. A number of funds doubt whether the Japan scenario will be repeated, not least because Tokyo itself may be on the cusp of a debt compound crisis.

Mr Fermon said his report had electrified clients on both sides of the Atlantic. “Everybody wants to know what the impact will be. A lot of hedge funds and bankers are worried,” he said. “——————NOW,WORDS FROM ELIJAH(OUR SAVIOUR HAS ARRIVED);”Old World Going Out;
New World Come In

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1 the Old World of mischiefmaking and bloodshed is now on its way out in order to make room for the new world of Righteousness and Peace.

2 For the past 6,000 years we have had to live in an evil world that was designed to destroy the peace of man and to shed his blood.

3 All around the earth, there has not been one section of the world in which the Original Man has been or where he now lives that has not been touched or ruled by the evil of gods of the old world.

4 The God of Righteousness and peace, today, has Made His Appearance to Take to Himself the Rule of the Nations under the government of Peace, Freedom, Justice, and Equality.

5 Allah (God) Seeks to separate the evil from the good and the good from the evil. He Declared Himself as Coming to Seek and to Save the Black Man (so-called Negro) from his kidnappers (the white race).

6 Allah (God) Came to unite and Restore the Black Man again to his Own and Bless Him with the rule of the Nations of earth, as declared by the prophets, Abraham, Moses, and Jesus.

Fall of Ancient Babylon

7 In the Fall of Ancient Babylon Jer. 50:46, “At the noise of the taking of Babylon the earth is moved, and the cry is heard among the nations.” here the Bible teaches us and we see today, at the fall of the old world, there is a great noise of war, the fighting of war, the destruction of nations, towns, and cities and the killing of their citizens. There is disagreement and confusion of the heads of nations.

8 It is a very dreadful time that the populations of the earth are now living in. This is the time of the destruction of a world. It is not to be compared with the destruction of an organization or a few towns as it was in the days of Noah. The destruction today is the destruction of a whole world. The prophets could not have given us a better picture of what we may expect today than the picture of what took place in the fall of ancient Babylon.

9 The Earth, land, and sea are set in battle array. Every type of deadly weapon is fashioned and is now being used against man and man. See Holy Qur’an Chap. 30:41. There cannot be any peace for man under these conditions.”————-“Time

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1 If you who disbelieve in the Truth would only consider the time in which we now live, you would bear witness that it is the very truth from your God that I am teaching. Just when should we expect Truth to be triumphant? The answer is. after the removal of falsehood.

2 The Time referred to in this book is the time of the present world as Allah (God) has revealed it. This time covers a period of six thousand years. It began from the day that the first white person was made which was in the year nine thousand of our calendar history.

3 This date is taken from the beginning of the present cycle of world history writings by 24 black scientists of which only 23 actually do the writing, and the 24th one acts as judge of the writings of the other 23. This takes place once every 25 thousand years. In this history is written everything that will come to pass for the next 25 thousand years.

4 The original scriptures of the Bible and Holy Qur’an were taken from it and revealed by word of mouth and inspiration to prophets. We are now in the 16th thousand year of this cycle and have nine thousand, nine hundred and fifty six years to be finished before the next cycle. But we are not concerned with that which the present time holds for us. A thorough knowledge of the time and changes to be made is the important factor for you and me.

5 The time given to the white race (Yakub’s grafted people) to rule the world is between the ninth and fifteenth thousandth year of our cycle of 25 thousand years which is six thousand years.

6 This time expired in 1914. A few years of grace have been given to complete the resurrection of the Black man, and especially the so-called Negroes whom Allah has chosen for the change (a new nation and world). They (so-called Negroes) have been made so completely mentally dead by the enemy (white race) that the extra time is allowed.

7 The time (six thousand years) ruled by the white race has been the worst of our known history; a time of complete trouble-making, war, bloodshed, and death of both the righteous and the wicked as never before. Therefore, the black nation and our God, Who is the Originator of the universe, have decided to remove the troublemakers from our planet Earth, as there is no way of the black nations getting along in peace with this wicked, grafted race known as the white race. They have flooded the nations with deceit and divisions.

8 The time now has arrived for plain truth, wherein you shudder and call the truth a lie and call falsehood the truth. This is due to your being reared and taught by the deceiver! But your disbelief in the truth will not hinder its progress, for it is the Time of Truth and this Truth is in our favor.

9 The white race progressed under falsehood for the past four thousand years because it was given to them. Now, that time has expired and the time of truth and righteousness again will rule. The interval of six thousand years of evil and falsehood makes the average person think that the original black nation was never anything worthwhile. Consider the time!

10 Most surely man is in loss except those who believe and do good and enjoin on each other truth (Holy Qur’an 103:1-3). The time of the white race is divided into three periods of two thousand years each. The first two thousand years was the period between Yakub, the father and grafter of the white race, to the birth of Musa (Moses) to the birth of Isa (Jesus), the last Great Prophet to the white race. The third two thousand year period is from the birth of Isa (Jesus) to the coming of Allah, often referred to by the Christians as. “The coming of God, the Christ, the Messiah, the Son of Man”, or the “second coming of Jesus.” In Islam, it is referred to as the “Coming of the Great Madhi, the coming of Allah” to the birth of Muhammad. “

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