By:Vernon S. Peters
"Go to now ye rich men,weep and howl,for your miseries that shall come upon you. your riches are corrupted,and your garments are motheaten. your gold and your silver is kankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days."(see James 5:1-8)
I remember back in high school when I first studied on the Stock Market crash of 1929. I asked my economics teacher if this could ever happen again,he said that,"There are mechanisms in place that would prevent what happened in 1929 from happening again. But we could see a major correction like we had in 1987." I was 16 then,frankly I didn't care too much...I just wanted to appear knowledgeable to my peers. However, I'd reflect on those words, a little over a year later in 1994. Thats when I was made aware of the volatile nature of the market.
That year I read "Illuminati 666" and "American Nightmare" a book and tract respectively,which in detail outlined the causes and effect of both the '29 and '87 market corrections. I began a daily log. For the three months I logged the progress of the market(just the Dow),the arrows mostly pointed south. I didn't think nothing of this until I read again "American Nightmare."
I had seen a sitcom Black Sheep,in the pilot the lead actor returns home after a market crash. What caught my eye though was the opening scenes. You see...it showed people en masse jumping off of buildings. This is what I was told happened in 1929.Then I began to hear a phrase that would be repeated many times,"...just like in 1929." This in relation to events that occured from 1994-1998. On the morning talk shows investors were saying that the market was overdue for a correction. A case and point of how turbulent the market is occured a few months back when the editor of "Money" magazine,a well-known "bull", announced that he was bearish concerning the market. That evening the Dow closed in negative territory. The next day he appeared on the "Today" show and told Matt Lauer that he might have jumped the gun...that evening,when the gavel came down on another day of trading,the arrow pointed up.
In this special bulletin,we will discuss the events that have led us to this point. But remember,what ever we may discuss is not to give you fear, but rather to stenghten your faith. For our kind Father in heaven loves you. He will protect you from y2k,the crash and all other trials that await you.Only believe and trust in Him.Take note of the parallels of the 1920s and the 1980s as you read on.
The 1980s according to Larry Burkett of Christian Financial concepts was,"the decade of greed." The United States was riding high on the wave of Reaganomics. The stock market was seeing the greatest "bull run" since the crash of '29. The '87 crash marked the end of a five year bull market that had seen the Dow average rise from 776.92 points in August 1982 to a high of 2,722.42 points in August 1987.The Dow average was computed from the stock prices of 30 major companies, selected for their broad level of public ownership and their total market value.(see below for the rest of this report).
The "circuit breaker" that was put in place after the '87 crash saw its first major test close to the ten year anniversary in 1997. During the session, the market plumetted more than 500 points. When the investors hit the "brakes" at the 250 and then again at the 400 they supposed that there would be an upturn before the closing bell. But the market continued its free fall...finally they stopped trading all together,and the market was down 512,the greatest single point drop since 1987,though less of an impact considering the inflated value of the market. But just like in 1987,the market reversed itself in trading during the following sessions. But the damage had been done. In an unprecedented move the central bank raised interest rates in two consecutive sessions. Chairman Alan Greespan had warned in the previous year about the,"irrational exhuberance in the market." Now look at this shocking statement made by Mr. Greenspan,back in 1967 when he was an Economic consultant:
"In the absence of the gold standard,there is no way to protect savings from confiscation through inflation. There is no safe store of value.Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no dificulty in understanding the statists[Ed.Note: The word "statists" is an euphemism for "politicians'] antagonism toward the gold standard."
On a recent edition of the Wall Street Minute,an Economist stated,"we shouldn't be surprised about a market correction of more than 2,000 after all it is over valued by the thousands." But later in that same program, Robert Drach,Publisher of Drach Weekly Research,said that there should be any fears about a major Stock Market crash,because there are currently different markets[Ed.Note:Thats what I believed too, until I realized that on most days when the Dow is down the NASDAQ and the AMEX and SP are also down].
The Agust 1997 issue of TRUMPET magazine(Free Subscription call:(405)340-7474),cover story was entitled,"America's Economy:Hanging By A Thread." Though I do not agree with all the assessments of the author(J.Tim Thompson),There were however some very good points worth repeating here,such as the quote from The Economist:"America is now in the [1997] seventh year of an orderly expansion,growing at an annual average rate of 2.5%,with no significant downturn in sight. Unemployment stands at around 4.8%[currently 4.5];yet astonishingly there are no signs of inflation. The stock market is at an all time high; Americans are being paid more,and they expect to hand their prosperity on to their children. That old ghost,worker insecurity,seems to have drifted away. To the perplexity and envy of the [June 1997] Denver summiteers, America with over 12 million new jobs since 1991,now seems to be an unstoppable job-creating machine."
It would seem irrational and almost laughable that there would be a cautionary article such as this,in the face of this overwhelming evidence of prosperity.But let me remind you that this warning comes to you via the Bible and the Spirit of Prophecy. Look at this warning from the pen of inspiration:
The time is right upon us when there will be sorrow in the world that no human balm can heal. The flattering monuments of men's greatness will be crumbled in the dust, even before the last great destruction comes upon the world(Selected Messages,book 3,p.418-19).
You see my dear friends,even though we are experiencing an unprecedented wave of prosperity,it still remains true that: there are still a majority of people living below the poverty line(1990 U.S. Census Bureau survey). The wages that most of middle income America earns is overly taxed,or it becomes the target of savvy retailers hocing every manner of merchandise. The fact remains that there is a trend in this country that is making the rich richer,and the poor poorer.Remember the verse above in James,it continues:
"Behold, the hire of the laborours who have reaped down your fields,which is of you kept back by fraud,crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth. Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts,as in a day of slaughter.Ye have condemned and killed the just; and he doth not resist you. Be patient therefore, brethren,unto the coming of the Lord...for the coming of the Lord draweth nigh."(James 5:5-8).
According to The Vatican's Billions published by Chick Publications,the Catholic Church's hierarchy is the wealthiest entity on earth. It says that, the Federal Reserve System, IRS,IMF and most of the world's super financial structures are controlled by Rome. Could this be the coffers from which the United Stated pulled out a surplus? And will this be the reason why the world's economic security would come under her control(see Rev.13:16,17).
Dear friend,though the Bible predicts that when the proverbial bear emerges from hybernation,it will bring the curtain down on the world's financial markets; you need not fear...for that same Word teaches that, as long as you are obedient to the will of God,your bread shall be given, and your water sure(seeRev.7:14-17;Isa 65). Our kind Father will never withold anything good from his faithful and obedient children(Psalms 84:11).
Learn More about the impending stock market crash and other end-time events
NEWSLETTER
Greenspan Alert
Causes of The Crash[1929]
CRASH OF 1987
Christian Financial Concepts
E L M S H A V EN
Please send US MAIL correspondence to: ELMSHAVEN MINISTRIES INC. P.O. Box 381862 Miami Fl 33238 You can also E-mail me at:
Copyright© 1999 byElmshaven Ministries Inc.