Greece: Bank Run

In the previous post I mentioned some of the financial problems in Greece, and the actions by the Greek government in banning cash transactions. I made an editorial comment about how these things frequently have unintended consequences. Here is one unintended consequence: A run on the banks in Greece.

I found this bit of news on one of my favorite blogs on economics, :

Greeks Scramble To Pull Out €8 Billion From Local Banks As Greece Responds With Money Control Measures

We previously wrote about the possibility of a bank run in Greece following unsubstantiated reports that Greek citizens don’t trust the Greek financial system all that much anymore, courtesy of the whole bailout and GDP reporting fraud thing. The rumor was not only just confirmed and also quantified: Dow Jones reports that in the past three months Greeks have moved about €8 billion out of local banks “fearing a possible new tax on bank accounts, increased government scrutiny on assets and a run on the banks if Athens is forced to turn to the International Monetary Fund.” This represents over a quarter of the money held by private banks in the country.

… More at the Zerohedge link …

Zerohedge article on Greek Bank Run

hmmm… Sounds like “unintended consequences” to me…

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Post written by admin on Tuesday, March 2, 2010 at 12:40 PM

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Greece Financial Reform:
Now Banning Some Cash Transactions

I was wandering through my usual collection of financial forums and stumbled upon this bit of news from Reuters:

Greek FinMin unveils tax reform, wage policy

In particular I found this paragraph interesting:

“From 1. Jan. 2011, every transaction above 1,500 euros between natural persons and businesses, or between businesses, will not be considered legal if it is done in cash. Transactions will have to be done through debit or credit cards”

hmmm… interesting. Currently they are banning cash transactions above 1,500 euros. That is certainly something to think about. Here is something else to think about, from the Bible:

And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
(Revelation 13:17, KJV)

The reason for this new law, of course, is that Greece is essentially bankrupt, and requires a bailout from the European Union. This measure would presumably cut back on the black market economy and raise taxes. Some things however have unintended consequences.

hmmm… I wonder what this ban on cash transactions will lead to…


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Post written by admin on Saturday, February 20, 2010 at 3:20 PM

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Now Banning Some Cash Transactions

Best Buy on AFA’s “Naughty” List:
ho ho harummpph.

Welcome to the Christmas season, and the annual begathon for your shopping dollars from some of the major chains in the name of the “Season”, without of course using the name of the Lord… or hinting at Christ… or any association with Him or the reason for Christmas. This year many retailers are avoiding or marginalizing the word Christmas in ads as they compete for your shopping dollars. This open competition is what makes free markets great, and is no different than previous years, but what is relatively new and disturbing is the ever lengthening list of retailers that refuse to use the word “Christmas” in their ads and promotional material.

There is a “reason for the season”, a phrase you still see on occasional billboards along the road, and still alive in millions of families throughout the world. The reason is Jesus Christ, and His virgin birth, which was a sign from God as prophesied in the Bible:

Therefore the Lord himself shall give you a sign; Behold, a virgin shall conceive, and bear a son, and shall call his name Immanuel.
(Isaiah 7:14, KJV)

God sent His Son as a perfect sacrifice for you, to get to know you, and have a relationship with you. One of the many signs that it was His Son was the virgin birth spoken of in Isaiah, and this is what we celebrate at Christmas: the birth of Jesus Christ, the Lamb of God. This Gift from God was the greatest Gift of all. This is the “reason for the season”, and why we remember Christ at Christmas.

Now… if you really want to get into the spirit of Christmas giving, then consider reaching out and helping those that are going through hard times – now more than ever there is a need for help due to the economy. There is probably a Christian homeless shelter or kitchen in a city near you that targets its giving to those that are truly in need. Consider contacting them and sending a Christmas gift that in turn helps others. One of the best ministries in most major cities is the Salvation Army, which has an excellent track record of stewardship. Sadly, a number of large chain stores no longer want Salvation Army donation collections anywhere near their stores (it is not politically correct). Here is a link to Salvation Army if you are looking for a place to donate, and can’t find one of those familiar red kettles nearby:

When it comes to the word “Christmas”, we have some new players in the “banned speech” department this year. Each year, the American Family Association publishes its “naughty and nice” list of stores that are avoiding the use of the word Christmas in advertising and greeting, and apparently specializing in “holiday” gifts. Best Buy in particular has had a bit of controversy lately after heavily advertising for an Islamic holiday during the Thanksgiving Friday sales for Christmas, while avoiding using the word Christmas. If you do shop at any of the big retailers that ban the word Christmas, be sure to give a big smile, and wish them a very Merry Christmas. Some of the employees are not as politically correct as the management, and understand the “reason for the season”…

The table below is from American Family Action, with the link below:
AFA’s list


American Family Association List of Stores Supporting Christmas

Companies FOR “Christmas”
updated 11-24-09
Bath & Body Works
Bed Bath & Beyond
Big Lots
Collective Brands
Dollar Tree
Family Dollar
Dollar General
H.E.B. Stores
Harris Teeter Stores
Hobby Lobby
Home Depot
JC Penney
JoAnn Fabrics & Crafts Stores
Michael’s Stores
Neiman Marcus
Pier One Imports
Rite Aid
Super D Drug Stores
Wal-Mart/Sam’s Club

Companies marginalizing “Christmas”

updated 11-24-09

Bass Pro Shops
Banana Republic
Barnes & Noble
Gap Stores
Hancock Fabrics
Hy-Vee Stores
Old Navy
Toys R Us
Whole Foods

Companies against “Christmas”
updated 11-24-09

Advance Auto Parts
Barnes & Noble
Best Buy
CVS Pharmacy
Dick’s Sporting Goods
Home Shopping Network
Limited Brands
Office Depot
Radio Shack
Victoria’s Secret

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Post written by admin on Wednesday, December 9, 2009 at 9:19 AM

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ho ho harummpph.

Happy Thanksgiving

Thanksgiving is an long standing American holiday and tradition, when we take time out with our families and friends and give thanks to the Lord for everything He has done and is doing in our lives. Not only has He blessed us individually, but He has blessed our nation with great farmland, factories, resources, and an industrious and free people with the spirit and faith to know that the Blessings come from Him. These are trying times economically for the nation and its people, but with faith in Him, His blessings will continue to flow, and He will lead us through the hard times. We are all praying for a healthy economy, and a peaceful world, but understand that there will be trials in a fallen world, and will continue to praise Him.

Take a few moments out this Thanksgiving and make it a point at your Thanksgiving dinner prayers and conversations to thank the Lord for His blessings, even in hard times, and to explain to others where blessings come from. Remember to also tell them that God the Father sent His Son Jesus Christ to bring you into a closer relationship with Him. Clearly, THAT is something to be thankful for.

I would also encourage you to give food, labor, and other offerings to the many charities that are helping people through hard times. There is probably a Christian ministry in YOUR city that is feeding the hungry and homeless, so get involved this holiday season, and stay involved throughout the year.

34 Then shall the King say unto them on his right hand, Come, ye blessed of my Father, inherit the kingdom prepared for you from the foundation of the world:

35 For I was an hungred, and ye gave me meat: I was thirsty, and ye gave me drink: I was a stranger, and ye took me in:

36 Naked, and ye clothed me: I was sick, and ye visited me: I was in prison, and ye came unto me.

37 Then shall the righteous answer him, saying, Lord, when saw we thee an hungred, and fed thee? or thirsty, and gave thee drink?

38 When saw we thee a stranger, and took thee in? or naked, and clothed thee?

39 Or when saw we thee sick, or in prison, and came unto thee?

40 And the King shall answer and say unto them, Verily I say unto you, Inasmuch as ye have done it unto one of the least of these my brethren, ye have done it unto me.

(Matthew 25:34-40, KJV)

34 “Then the King will say to those on His right, ‘Come, you who are blessed of My Father, inherit the kingdom prepared for you from the foundation of the world.

35 ‘For I was hungry, and you gave Me something to eat; I was thirsty, and you gave Me something to drink; I was a stranger, and you invited Me in;

36 naked, and you clothed Me; I was sick, and you visited Me; I was in prison, and you came to Me.’

37 “Then the righteous will answer Him, ‘Lord, when did we see You hungry, and feed You, or thirsty, and give You something to drink?

38 ‘And when did we see You a stranger, and invite You in, or naked, and clothe You?

39 ‘When did we see You sick, or in prison, and come to You?’

40 “The King will answer and say to them, ‘Truly I say to you, to the extent that you did it to one of these brothers of Mine, even the least of them, you did it to Me.’

(Matthew 25:34-40, NASB)

Happy Thanksgiving,

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Post written by admin on Wednesday, November 25, 2009 at 9:03 PM

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Nobel Peace Prize: A Completely Meaningless Award

Mr. Obama was nominated for the nobel peace prize only 12 days after being sworn in as President of the United States. Today the Nobel Committee announced that Mr. Obama was the winner of the prize. President Obama is now in the same league as other winners of this silly prize like Yasser Arafat and Al Gore (who also won the “Peace Prize” for political reasons). It is now abundantly clear that the “Nobel Peace Prize” is a completely meaningless award, given randomly to terrorists, new Presidents, or President “wannabes” for completely political reasons. Perhaps it is time to rename the prize the “Nobel Politically Correct Prize“.

Could somebody please explain what Mr. Obama did in his first 12 days in office to warrant the award of this prize? The Nobel Committee should consider expanding on this now meaningless honor, and award President Obama the Nobel Prize in Physics as an additional honor!

After awarding the terrorist Yasser Arafat the Nobel “Peace” Prize, the Nobel committee decided to add a punch line to the Nobel Comedy Series… yesterday’s nomination of Barack Obama after 12 days in office was that much needed punch line.

There is a message here: Man’s awards and gifts will all pass away. The only award that will ever count is the one that is written in the Lamb’s Book of Life: having the label “Saved” after your name. Some of you may have not won many of mankind’s great awards, or achieved the fame and fortune that go along with worldly awards. But those of you that know Jesus Christ as your personal Lord and Savior have won the greatest award of all, salvation and eternal life.

Woe unto you, when all men shall speak well of you! for so did their fathers to the false prophets.

(Luke 6:26, KJV)


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Post written by admin on Friday, October 9, 2009 at 4:50 PM

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Bank of America Removes American Flags Honoring Fallen Marine

I think this story needs a bit of attention (of course avoided by the Main Stream Media). A parade for Lance Corporal Christopher Fowlkes, a fallen marine, was given in Gaffney, South Carolina. American flags were placed along the parade route. Apparently Bank of America thought that the American flag would be offensive to some of the Bank of America customers, so the branch manager removed the flags. hmmmm… Perhaps the Bank of America needs a new name if their customers are offended by the American flag. Here is a youtube video (below), followed by a blog from South Carolina that is covering the story. A large number of people have been moving their cash savings from banks to credit unions over this and other incidents. Credit unions are also somewhat safer in this period of (ahem…) questionable banking decisions. Bank of America was also a major recipient of TARP funds in the bailout.

Here is a post from a local blog covering the story:


Yours in Christ,

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Post written by admin on Thursday, September 24, 2009 at 11:36 AM

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Be Careful of Who and What You Worship

As the saying goes, a picture is worth a thousand words:

Obama Bowing to Saudi King

President Obama bowing to the king of Saudi Arabia.


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Post written by admin on Friday, April 17, 2009 at 11:04 PM

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Happy Easter – He is Risen!

This morning brought some great news! The Somali pirates that kidnapped Captain Phillips met with a big dose of Justice:

Captain Phillips was safely rescued, 3 pirates were killed, and 1 captured. Sounds like Captain Phillips family is going to have one happy Easter. His priest came out after the rescue and made the comment that evil never wins in the end. never.

What a wonderful Lord and Saviour we serve. He is risen, and still working miracles.

One more comment: Captain Phillips was a hero. One of my pet peeves is the misuse of the word “Hero”. Captain Phillips surrendered himself in order to gain the release of his crew after trying to fight them off. Then he tried to escape twice under automatic weapons fire, the second time successfully gaining his freedom. This is a hero.

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Post written by admin on Sunday, April 12, 2009 at 12:14 PM

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Change you can believe in

Barack Hussein Obama was elected on a platform of “Change you can believe in”.

Here is an update on some of the “Changes” that you need to plan for, and prepare. It deals with the possible collapse of Mexico, and its impact on America:

I just love Alan Keyes. The guy never real had a chance in the polls, which says more about the electorate than about Keyes. The man is brilliant, and the video below describes another aspect of “Change You Can Believe In”:

Are you PREPARED for these Changes?


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Post written by admin on Monday, February 23, 2009 at 8:31 PM

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Are You Prepared?

I knew major “Change” was coming in political and economic terms some time ago, and most recently made a major change in my own course in mid 2007. The stock market was at an all time high of 14,000 on the DOW for the first time, and all of the TV commentators were glassy eyed and talking about how DOW 15,000 was right around the corner. America had been on a huge drinking binge for some time, and was ready for more. The binge buying and selling went into overdrive during the war, which of course is never a good idea. So I changed course and sold. It was time to adjust according to the signs and prepare for a different world.

Over the years I have been through three flooded homes, a couple of hurricanes, tornadoes, earthquakes, and riots, similar to a lot of people to a greater or lesser degree. In my early years I was into backpacking and camping, and even spent a whole year living on a glacier in a remote station in Antarctica, so I have always been an advocate of “Emergency Preparedness” and planning for “Change”, both expected and unexpected change, and of course preparation for both good and bad change. I did just that back in 2007, and planned for “change”.

While preparing is second nature to me, I thought it might be time to discuss emergency preparedness with our readers. This is not an “end of the world” post, but a post about common sense and preparation for emergencies. Only the Lord knows what the stock market or your 401k or other savings will be like tomorrow, but the Word has certainly given us plenty of examples of preparation. Perhaps one of the most famous examples was the instruction by Joseph to Pharaoh to store food for seven years of plenty, in preparation for seven years of famine. The story begins with Joseph interpreting Pharaoh’s dream as a message from God:

25 And Joseph said unto Pharaoh, The dream of Pharaoh is one: God hath shewed Pharaoh what he is about to do.
26 The seven good kine are seven years; and the seven good ears are seven years: the dream is one.
27 And the seven thin and ill favoured kine that came up after them are seven years; and the seven empty ears blasted with the east wind shall be seven years of famine.
28 This is the thing which I have spoken unto Pharaoh: What God is about to do he sheweth unto Pharaoh.
29 Behold, there come seven years of great plenty throughout all the land of Egypt:
30 And there shall arise after them seven years of famine; and all the plenty shall be forgotten in the land of Egypt; and the famine shall consume the land;
31 And the plenty shall not be known in the land by reason of that famine following; for it shall be very grievous.

(Genesis 41:25-31, KJV)

God has always been faithful in leading His people, and showing them both what is to come, and how to deal with it. The story continues, with Joseph counseling Pharaoh about this dream, and the instruction from God:

34 Let Pharaoh do this, and let him appoint officers over the land, and take up the fifth part of the land of Egypt in the seven plenteous years.
35 And let them gather all the food of those good years that come, and lay up corn under the hand of Pharaoh, and let them keep food in the cities.
36 And that food shall be for store to the land against the seven years of famine, which shall be in the land of Egypt; that the land perish not through the famine.

(Genesis 41:34-36, KJV)

America, and the entire world, has had a long period of abundance, combined with ample cheap fuel (oil) to build a robust society and infrastructure. At this point in time (February 2009), oil is cheap again, around $37 per barrel, but of course the economy is heavily in debt and on the verge of bankruptcy. When we combine the drunken stupor brought on by sub-prime loans and easy credit to the uncreditworty, with the massive spending on social engineering, it is easy to see how we got into this mess, and yes, it was easy to see this coming.

Part of the “Change” that has been decided upon is to inflate the currency as a way out of debt, which is always a dangerous path. This is *particularly* true when we try to boost the economy through social means and social engineering, as opposed to *real* engineering with tangible outcome. As with all government programs, this will cost us for generations to come. So here is an early warning message: the “stimulus” and “bailout” packages may make matters worse, and you should prepare for the possibility of further economic problems. We will all pray that things improve, but as a practical matter we should prepare, and save… While we are to trust in the Lord, He has also given us some solid wisdom through His Word, and as Christians we should act upon that wisdom found in the Bible.

So prepare yourself and your family by “saving” and preparing for emergencies. In America that “saving” word is almost heresy, where the populace is accustomed to running up consumer debt, housing debt, education debt, car debt… always a “good” reason of course, along with myriad bad reasons for debt, like entertainment, expensive vacations, gambling, smoking, etc.

Some of you have fallen into this mode of belief that the Lord will take you away in the rapture before anything remotely unpleasant will occur in your life. I am not going to launch into a doctrinal discussion of “pre-trib” or “post-trib” rapture. This site has a focus of unity in Christ through essential Christian doctrine, and “pre-trib” or “post-trib” interpretation of scripture is not an essential element of the faith. What I will say, however, is that those that are hoping for a “pre-trib” rapture to take you out of the world should at least be prepared for emergencies, wars, riots, and economic hardships that just might come along before your anticipated rapture. Just remember that “times can be tough” without the world entering into the “great tribulation”.

If you have not yet started saving and preparing for emergencies, then perhaps you should sit down with the family and discuss plans for the future. I will expand on this theme in the next few months, but for many of you, it is time for *you* to get started.

Yours in Christ,

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Post written by admin on Tuesday, February 17, 2009 at 12:40 AM

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