Looking for some help understanding something...

M

MaryJane Jan 21, 2016

Greetings

Today someone shared with me in great detail about possible future economic issues with the stock markets and the banks. I listened and tried to follow along but I will admit I don't understand all the workings of our countries economic situation. I realize there are needs and as the LORD leads I do my best to pray for others who are clearly struggling.

Having said that the topic of "bail-in" was shared with me. I didn't really know what that was until I looked it up. I think it has to do with what happened in Greece when the banks took peoples money. Anyway I was told that I should not keep any savings in the bank because when they have issue next time they won't be getting bail-outs from the government but can now legally take money from peoples savings and checking accounts???

For someone who better understands these things what are the chances there is truth in what I was told? Is this really possible?? Is it wise to have a savings account or no??? Just trying to understand what this person was trying to share with out sounding as dense on the matter as I currently feel :)

Anyone have any thoughts to share?

God bless
mj

Edit) I should add that my interest in this is not one based on fear as GOD is in control but more just attempting to understand where this person was coming from...

D

dolfan Jan 21, 2016

The risk is real but probably not imminent here.

Do you hear the words I used? Risk. Probably. These are all things that can and do happen in the world but no one you or I know --- or frankly, no one we read online --- knows with certainty IF they will happen here, WHEN they would, nor to WHAT EXTENT they will happen.

Fear mushrooms in the dark when it is fed fertilizer. Light, in the other hand, makes certainty grow. Let's walk in the light.

What do we know, certainly? We know history. We know something of current events. We know Jesus. History demonstrates these things as uncommon, but also severe yet endurable. Current events show that it happens now (Greece). Jesus is Jesus and He will not withhold His counsel from us as we walk with Him and ask Him, particularly as we walk in the fellowship of His Body.

What we don't know is details. Well, that is nothing new. God seldom gives them in advance. That has not changed, has it, even with all this going on. So, the God who reveals secrets has nothing more yet to tell us about banking going forward as we walk with Him in truth. You are left to the wisdom He supplies for now and that is enough.

Some wisdom already counsels us to be ready. So do things that make ready at least for a few weeks. I don't know how practical long term strategies are because of things devolve into real chaos, very few people will be able to stay in place to use their stores. IMO, (and here we go with opinions) cash in hand and gold or silver are not a bad idea for short to medium term needs. I know some believers who already divested from stocks. Beyond that, I am afraid I cannot be of much help practically speaking.

sermonindex Jan 21, 2016

HI Mary,

We are living in a constantly changing world. The current crisis seems to be set of by a number of combinations including the economic situation in China and the plunging price of a barrel of oil. Banks back these oil contracts and projects and can be directly affected when the price of oil plunges, bank stocks have taken a big hit in the last few days.

Its hard to imagine the scenario where you lose the money in your bank accounts. After the last financial disaster the bank had to " qualify," with a certain amount of liquid assets so as to avoid any future need to " bail out," the banks. Of course a bail in would be a picking of creditors to be paid in the event of bankruptcy and typically the little guy would not fare well.

I might add that I believe there is a judgement against the oil industry and the oil producing countries of the world going on right now. Who would have predicted a year ago that oil would plunge in price with total turmoil in the Middle East, typically turmoil leads to an increase in oil prices. Opec, led by Saudi Arabia, has decided to keep oil production high for their own reasons. I believe they thought they were being clever and it has now turned round and bitten them on the butt. The re-introduction of Iranian oil can only add to their woes.

Saudi Arabia is the beating heart of evil. It funds, with oil money, madrasses( militant radical muslim schools) all over the middle east and in place like Pakistan, teaching the most radical of all Muslim doctrines, Wahabiism. Groups like Al Qaeda and ISIS have for their doctrine Wahabiism......bro Frank

sermonindex Jan 22, 2016

Greetings MJ

firstly i would like to thank you for your many encouraging posts, pointing us to Him !

About your question, I'm not qualified to give you "professional" advice. But I believe you should listen to your friend, maybe God has a message for you through him/her.
This has nothing to do with fear, more with wisdom. For me it is a bit like trying to understand the weather and the weather forecast. Then we can prepare a bit better for what is coming. We need to know that whole world lies in the power of the evil one. (1 John 5:19)
So take your friends message serious, if you can, ask a few more trusted believers for advice and seek God's guidance in this matter and don't put specific stuff on the internet ! Hope that helps a bit, blessings!

G

ginnyrose Jan 23, 2016

Talking about oil....

You remember when it was rationed, the naysayers saying we will run out of it?

I asked our son who is involved in the oil industry why the price is so low - he said it is because there is plenty. He works as a captain and he said their wages have dropped 50% from a year ago. (No, he is not looking for another job.)

Mary Jane, I am confused about what the economists say. They predict such and such will happen and it does not. Since their credibility has become tarnished I cannot trust them so where does this leave a body? When I get to this point I am always reminded what happened when our daughter was ill with glioblastoma. The Holy Spirit so forcibly told me to live each day to the full and then when/if Regina dies He will comfort me. And he did. Powerful principle/truth.

Blessings,

Sandra