Notice the following:
October 4, 2016
The International Monetary Fund warned three months ago that Deutsche Bank posed a potential systemic threat to the global financial system. Today the problems facing Germany’s largest lender are fueling a different kind of risk: that of a growing nationalist backlash in Germany.
On Monday, the chairman of the German parliament’s economics committee Peter Ramsauer gave an interview to Welt am Sonntag in which he called the $14 billion fine over Deutsche Bank’s mortgage-backed securities business dating back to the financial crisis “extortionate” and said the fine “has the characteristics of an economic war.” …
Instead of parceling some of the blame on Deutsche’s management, many Germans are circling the nationalist wagons. The idea that Deutsche Bank is in large part a victim feeds into an increasingly popular narrative that Germany’s traditions, standards and institutions are under threat from outside. As we saw with opposition to genetically modified foods and the Trans-Atlantic Trade and Investment Partnership (TTIP), once entrenched, these views can create powerful policy red-lines. …
Germany is pretty much the reason there is a European Union at all: The European Coal and Steel Community was formed in 1951 to harness German industrial might to French statecraft. The euro — which Germany accepted as the price for reunification — was fundamentally a political project to further tighten the knot. And export-oriented Germany has reaped the benefits of a currency that is substantially weaker than the Deutsche mark would have been, giving it an enormous trade surplus. https://www.bloomberg.com/view/articles/2016-10-04/deutsche-s-troubles-touch-a-nationalist-nerve
Germany has influence. Problems with its banks can affect Europe in many ways.
Former German Economics Minister and Defense Minister Karl-Theodor zu Guttenberg (often referred to as ‘KT’), mentioned concerns and warnings related to his former boss and the banking situation in Europe:
The man who was once tipped to be the next German chancellor has given a gloomy assessment of the country’s banking sector, telling CNBC that he would hesitate to invest in European banks.
“I’m not a big optimist on European banking stocks,” Karl-Theodor Zu Guttenberg, the founder of New York-based Spitzberg Partners, told CNBC Monday.
Guttenberg was the former German economics and technology minister and was part of Angela Merkel‘s Christian Democratic Union party (CDU) but left the government in 2011 after being engulfed by a plagiarism scandal. He explained that the recent saga surroundingDeutsche Bank could heap more difficulties on the German chancellor as she would not want to push through an unpopular bailout for the embattled bank but also would not want to sacrifice a “German symbol.”
The government has denied any public backstop for the bank which has been asked by the U.S. Department of Justice to pay a settlement of $14 billion. However, Guttenberg said that it would be highly likely that policymakers were making some sort of contingency plans in the background.
“She’d (Merkel) be extremely reckless to not prepare for plan B,” he told CNBC.
He said that the best-case scenario was for the proposed penalty to be negotiated down and for Deutsche to come up with a “viable strategy” for the future that meant that it wasn’t just “muddling through.” 10/03/16 http://www.cnbc.com/2016/10/03/im-not-a-big-optimist-on-europe-banks-right-now-former-german-economy-minister-says.html
Ahead of next year’s election, the German Chancellor must react to the woes of Deutsch carefully or risk the wrath of her electorate, according to Karl-Theodor Zu Guttenberg, former German politician and founder of New York-based Spitzberg Partners.It comes after Mrs Merkel ruled out the possibility of the Italian government rescuing its banks.
Mr Guttenberg told CNBC: “It is a quite toxic combination for Angela Merkel, she has to be careful in the direction to move. If she offers a bailout too early, it could backfire from the German public.
“If she doesn’t, she could sacrifice a German symbol, so it’s an awkward position for her right now.
“If she offers a bailout after her stance towards Italy, it could even undermine European structures again, so it’s highly complex, it’s not over this story.” 10/03/16http://www.express.co.uk/finance/city/717125/Toxic-Deutsche-is-huge-problem-for-EU-and-Merkel-warns-ex-minister
Before his plagiarism scandal, KT was widely believed to be the one who could succeed Angela Merkel.
He has been in self-imposed exile in the USA for a while, though it seems like he visits Germany almost every month. Yet, Herr Guttenberg has NOT been shy about his criticisms of USA politicians.
Now he is issuing warnings related to Germany. In the past, he has also issued some related to Europe. Historically, Winston Churchill issued many warnings for years–that most in the UK ignored. But in the crisis that became WWII, the UK turned to him. Herr Guttenberg may be somewhat following in Winston Churchill’s footsteps this way.
KT’s comments are interesting in many ways as I have long expected that there would be some type of financial problems in Europe before it will unite behind a strong leader (cf. Revelation 17:12-13).
We know that the Bible teaches that “signs and lying wonders” (2 Thessalonians 2:9-12) will bring people to support the final Beast (see also Who is the Man of Sin of 2 Thessalonians 2?). But economic concerns, civil unrest, and religion will also play a role (cf. Revelation 13).
As far as economic concerns go, consider that in a sermon on July 7, 1984, the late Herbert W. Armstrong wrote:
And I can see now, the event that is going to trigger the formation of the reunification in Europe; the resurrection of the medieval Holy Roman Empire that we’ve been looking forward to that is prophesied to come…
But I believe that some event is going to happen suddenly just like out a blue sky that is going to shock the whole world and is going to cause the nations in Europe to realize they must unite! … Well now I think I can see what may bethe very event that is going to trigger…that is the economic situation in the world…
The whole banking structure in the United States is a network all jointed together. But not only that, one nation has to deal with other nations and imports and exports. And so they have to have a means of transforming money from one nation to another. And so the banking structure is international and interwoven…
Now when the financial structure breaks down, all civilization is going to break down…
German banks have been highly instrumental in helping Greece and supporting eastern Europe. And now, they seem to be in trouble. They may well trigger various crises and civil unrest. So much so that Europe will turn to a strong leader to resolve the problems (like many feel that Adolf Hitler initially did) and then lead a unified Europe.
Karl-Theodor zu Guttenberg is the type of ‘strong man’ Europe may well turn to in times of crisis (cf. Revelation 17:12-13).
His comments seem consistent with one who hopes to one day lead Europe.
Of course, Karl-Theodor zu Guttenberg could simply be a normal politician. And all his intentions could be fine. We will see. But Karl-Theodor zu Guttenberg does seem, to me at least, to be taking the types of steps that one who could possibly be the final King of the North would actually take. And his ability to gain popularity seems consistent with scripture.
It is important to remember that there are more than a dozen New Testament admonitions to watch and be alert to the signs of the times in the last days (see Matthew 24:42-44; 25:13; Mark 13:33-37; Luke 21:34-36; Acts 20:31; 1 Thessalonians 5:6, 20).
Although Karl Guttenberg may not become the European Beast leader, at this time, it still seems that the Baron is one to watch.
Much is happening on the world scene.
News presenter: John Hickey