—From a Business Conference with Peter
1. WITH 71 BANKS CLOSING IN OHIO IN THE U.S. THIS IS QUITE A BIG FINANCIAL SCARE! They found out that this anti-Christ ESM Investment Company in Florida was not the only one to blame. Their Chicago auditors concealed their losses & the losses of their fellow companies under the same holding company umbrella, Grant something & some other Company, & they have been concealing it & defrauding—in other words, stealing money for five years, since 1980 by the millions until the loss is now 300 million Dollars! It's caused ESM to go broke & because all these banks in Ohio had so much money loaned out to them, now all these banks are in the hole to the tune of what is getting close to one billion Dollars! (See WND 72, pg. 12.)
2. WHEN THE FIRST BIG OHIO STATE SAVINGS & LOAN COMPANY, THE BIGGEST ONE IN OHIO FAILED & went into receivership the eighth of this month, just 10 days ago, that scared the people justifiably to start running to their banks & withdrawing their money until this last weekend.—And then the Governor closed the banks! He said it was just for the weekend‚ but now he has extended the bank holiday, as they so nicely put it—sounds nice‚ doesn't it, "bank holiday." It's literally bank closure, indefinitely until the State Legislature can solve the problem somehow, & they're going into the solvency of each one, exactly the same thing that Franklin Delano Roosevelt did with all the banks of the United States, & in the latest article in the paper, if you read it, it says it's the first time it's happened on such a large scale in 51 years since Roosevelt did it!
3. SO IT LOOKS TO ME, SON, LIKE IT'S REALLY GETTING SERIOUS & IT'S THE BEGINNING. Thank God He tipped us off ahead of time! Although we were a little bit slow, at least we got out. What makes me feel bad is that we got this Dollar Issue out so slow, I wonder what the Hell has been taking them so damned long! I'd hate to have our people losing a lot of money & then blame it on me because I didn't tell them soon enough! Well, I've been warning them for a long time. But you see‚ a lot of people are fools. They say, "Well‚ maybe Dad was wrong, look how the Dollar is going up, we're making money as long as we keep our money in the bank & keep Dollars, the Dollar is getting more valuable all the time. We don't want to sell out & buy Yen, of all things! We don't even want to sell out & buy Swiss Francs, much less Yen!"
4. MAYBE SOME OF THOSE WESTERNERS NEVER HEARD OF YEN, BUT THEY HAVE HEARD OF JAPAN‚ LET'S HOPE! But Yen are probably not too negotiable in the United States. And they're the ones of course who are going to be first & hardest hit. So thank God our people don't usually have enough money to save & put in savings banks! Most of them, if they have any kind of account‚ they have a checking account that their money just flows through‚ but if it's gone this far with those banks it's going to go beyond, because a lot of those banks may have money from the savings banks.
5. SAVINGS BANKS, YOU SEE‚ ARE SUPPOSED TO BE THE MOST SOLID OF ALL, the most reliable. They pay the lowest interest because they're supposed to be the least risky & they're supposed to have most of their assets in real estate. That's why they call them Building & Loan Associations usually, now they've gotten to calling them Savings & Loan Associations. And they've gotten a little bit away, as you notice, from just having their assets in real estate, which has lasting value. They've gotten a little more careless & more of the gambling spirit & are even investing in financial institutions like this supposed money-maker in Florida. run by a bunch of crook[s], of course. Also, the auditing company in Chicago that's been covering up their losses for the last five years is probably run by a bunch of ... gangsters or Mafia or something, & so there it's gone!
6. SO A LOT OF THE OTHER BANKS COULD HAVE EVEN HAD INVESTMENTS IN THE SAVINGS BANKS because their money is supposed to be so secure. And this Ohio State Deposit Insurance Corporation, which was not a state institution at all, it was nothing but a private insurance company, had these oval signs in the windows of those banks saying, "Your deposit is insured in full by the Ohio State Deposit Insurance Company‚" & to the simple dumb-headed sheep, this meant that the State Government had insured their deposits like the Federal Government insures up to a certain amount on other deposits‚ that their deposits were insured in full!
7. ALL OF A SUDDEN THEY FOUND OUT THAT IT'S ALL DOMINOED from the ESM to this Grant Company, now to that deposit company & that will mean the insurance company & then boom, boom, boom, the whole thing starts going down! This is the biggest bank closure in history since FDR closed the banks at the beginning of the Depression! Now if that doesn't wake people up I don't know what will! That's going to scare all the rest of the bank customers of any kind of banks in Ohio & finally slowly other people in other parts of the country are going to wake up & start worrying about their money & start pulling it out, & boom!—It goes! And as soon as the foreign depositors begin to see what's happening, they'll pull their money out too!
8. WELL, I'M A CALAMITY HOWLER, YOU CAN CALL ME THAT, I'VE BEEN HOWLING CALAMITY FOR THE LAST 20 YEARS! But it's happening. God's given people a lot of time. But now it's happening.
9. WELL, WHAT DO YOU SUPPOSE WILL HAPPEN IF IT GETS BAD, WHICH IT CAN & MAY & MOST LIKELY WILL! We know it is going to eventually. Now God has had a lot of mercy on us. He let us get ours exchanged first, & we hope that our people got the word in time to save themselves from the Dollar. Of course, that's not going to help our people in the U.S.A. Even if they went down to the bank & transferred their funds into Swiss Francs, the bank is a bank & if it closed it doesn't matter whether their money was in Dollars or Swiss Francs‚ it's gone! So you know what that's apt to do to our U.S. income if this thing snowballs like it can. Now if God has a little mercy on us, which we hope, to help us try to get our house in order before the whole thing comes down‚ maybe they will have gotten their money out of the banks soon enough that it is not going to hurt them immediately.
10. BUT WHEN THE DOMINOES BEGIN TO TUMBLE, even if they didn't lose it on the Dollar, even if they didn't lose it in the bank, do you know what happens next? (Peter: They lose on the Dollar.) All right, they've got their money out, let's say they got it out of Dollars, let's say they got it out of the bank, where are they getting their money now? (Peter: From the people.) So they're still getting it in what?—Dollars! So by the time they change those Dollars to Swiss Francs, they're going to get a lot less Swiss Francs for them, so what does that mean to us?
11. ALSO, AS THE THINGS BEGIN TO TUMBLE, this is just the way it works. I went through one Depression, I know what I'm talking about as I was old enough to read the papers! In fact I kept a news scrapbook. The next thing that happens is as the Dollar begins to tumble & the banks tumble‚ & the people begin to lose money‚ their invested money‚ etc., what tumbles next? (Peter: The Dollar itself, the value of it.) Yes, but in the United States it still has pretty much the same value between the people there. But that will affect us almost immediately because of the exchange value. But I'm talking about them & their income. The exchange value is affected immediately‚ but what about their giving, where do they get that money? The Dollars could continue to be the same to them, but we'd lose on exchange, it would mean the same to them, but then what? (Peter: But then the people who give them the Dollars aren't going to be giving them so many Dollars because they aren't going to have them anymore.) Well, they'll still have Dollars around there in the U.S. for a little while. (Peter: Because it's a Depression, they won't have'm for long!) I'm trying to get you to think.
12. IN A DEPRESSION WHAT HAPPENS BESIDES LOSING MONEY? First of all, the panic, the crash hits the money people who have got money in stocks, bonds, savings‚ banks, etc.—it hits them first & the money is gone! Then what happens? What tumbles next? I'm trying to get you to think. If they don't have the money to invest & to operate, where is that money that they had?—it's out in loans from their banks to what?—Businesses & industries! Suddenly they lose their money‚ they can't pay their debts!
13. THIS IS THE WAY IT WORKS: FIRST OF ALL THE MONEY STARTS TO CRUMBLE, NEXT THE MONEY INSTITUTIONS START TO CRUMBLE, BUT AS THEY CRUMBLE, THEN ACTUAL BUSINESSES & INDUSTRIES BEGIN TO CRUMBLE! What does this mean to the people? Employment begins to crumble, which means their income begins to crumble & it just dominoes right on down the line to the poor man! It starts with the rich people. God judges the rich first, then it goes right on down the line till it hits the poor people, who themselves, if they were still working for Mammon & putting Mammon first, are just as guilty as the rich. They went back home instead of being a missionary & thought they could live better at home & have a good job & live in comfort, ease & luxury the U.S. way with a good salary, but pretty soon the job is gone, & do you know what happens next?
14. WHEN THE JOB IS GONE WHAT HAPPENS TO THEM? (Peter: Well, then they're stuck, they don't have any money, they don't have any income.) They have no income so they live for awhile on what? (Peter: Probably with the money that they saved to leave.) If they had any! And if not, what do they manage to survive & eat on then for awhile?—Unemployment first, federal unemployment insurance‚ but that runs out. It used to be only for 20 weeks while I was there. I used mine up. It didn't take long for 20 weeks to go by & there was nothing left of my unemployment insurance! Also‚ what have they been spending their money for besides tithing? (Peter: Living expenses.) Well, that's a necessity, but most Americans don't just live. (Peter: Luxuries.) And how do they buy them? (Peter: On time.) Exactly, a little bit down & so much a month‚ but now they're on unemployment insurance & welfare & they just have enough to eat, they don't have enough money to pay their bills or meet their payments, & then what happens? The moving men start moving in, first they take the TV & then the car & then the furniture & finally what?—The house!
15. I MEAN I HAVE BEEN THROUGH IT & I'VE SEEN IT HAPPEN & THAT'S THE WAY IT HAPPENS! Mortgages were being repossessed, houses, cars, everything repossessed just hand-over-fist so fast they couldn't even hardly keep up with it, & they lose everything! They not only lose what they've got or thought they had, lose their money, their job & their income, but they lose everything they bought or thought they bought & they are not merely left with nothing, what are they left with?—A bunch of debts & unpaid bills! So they are stuck! A lot of them may be so unfortunate as to even be left with bills to the U.S. Government such as income tax payments, etc.‚ & if they don't run, they'll go to jail! It's God putting the squeeze on our folks, let me tell you, Brother! If they don't run, the U.S.A. is no longer a country which says it has no debtor prisons! The United States used to brag about being a country where you couldn't be put in prison for debt, but you can now! The Federal Government will slap you in Federal prisons in nothing flat for debts to the IRS‚ income tax debts!—And that's what people usually wind up with‚ & if they don't get out & get out fast, the debtors or the creditors, including the U.S. Government, are going to close in & they may never get out!
16. AND I GUESS YOU HEARD THE NEWS ABOUT THE AIRLINES FROM EUROPE TO THE MIDEAST: BECAUSE OF THE IRAQ-IRAN WAR NEARLY ALL OF THEM ARE CLOSING DOWN ROUTES THAT FLY THERE. Maybe you don't realise it but almost every single airline, Lufthansa, Swiss Air & Air France, etc., from Europe to the East fly, like we did‚ right near the battle zones! I was dumbfounded when we flew right over Beirut & then right on down the Arabian Peninsula in all that hot war area‚ right over the burning oil wells of Saudi Arabia & then across the bay to Bombay! And that's the way most of them go. Those European Family folks, members who have been stalling about going East & are waiting to get started to commence to go, they suddenly find that they can't even catch a plane East if the war spills over into neighbouring countries, & that whole area gets so hot that the airlines refuse to go that route! You know the only route that would be left open to them? (Peter: Over Moscow?) Exactly, that's the only route they'd be able to go, through Russia!
17. SO THE DOOR TO THE TUNNEL IS CLOSING! It's closing financially in the U.S.A. It's closing transportation-wise from Europe, & if those people don't get out in a hurry it may already be too late!
18. WE'VE PREDICTED THIS FOR 20 YEARS, & AS FAR AS I CAN NOW SEE, IT LOOKS TO ME LIKE IT HAS BEGUN‚ IT IS HERE! We have said several times lately & last year that it could be this year & it looks like this is it! And if our calculations & our interpretations could prove to be true & the Antichrist is to arise next year‚ he has got to arise for a reason. And the reason would be most likely what? (Peter: The Crash?) Which has occurred when? (Peter: Before he got there.) Which means when? (Peter: Now!) Right, this year! You can call me a prophet of doom & a calamity howler & I will accept the credit for it because I am, & that's what's happening & I believe it! I warned you about the Dollar & thank God we've been warning about that for years, but we didn't even pay enough attention to it ourselves, we didn't take our own warnings until finally I said you've got to go quick, dump your Dollars! We did just in time, right? Just in time!
19. THE DOLLAR MAY HAVE ONLY FALLEN FIVE PER CENT IN ONE DAY, BUT THE CLIMBING VALUE OF GOLD SHOWS THE DOLLAR HAS FALLEN ABOUT 20 PER CENT IN THE LAST THREE WEEKS! Now if that isn't quite a Dollar decline I don't know what is!—And if that doesn't begin to filter down to the lower levels amongst the masses which creates the final panic, I'll be surprised! See, the big money boys, the guys with the billions, they know it, they fear it & they hear it first because they've got the grapevine there at the top. They are the guys manipulating the money. So they don't lose!
20. IN THE "GREEN PAPER PIG" DREAM I SAW AS CLEAR AS ANYTHING THOSE OLD [ACs], WERE MANIPULATING THE GREEN PAPER PIG & they are the ones that shoved it off & sent it on its way! They know what's going on because they're doing it! They learn first & if they have been smart & not spread out their investments too thin, even if these banks underneath them begin to crumble & fail‚ where does the money go? If banks are losing money, failing & losing money, the people's money & businesses & industries & real estate & all of that‚ investors of every kind & people that have anything lose money‚ the money doesn't just disappear. Where does it go?—Just where it did in the great Depression!—It wasn't the Rothschilds & the J.P. Morgans & the guys at the top who have the money & all the people owing them money, they're not the ones who fail, they are the ones who clean up on a Depression, everybody owes them money! So they start foreclosing on the banks & the businesses & the industries & finally that filters right down to the little people & everybody owes the big boys money & they clean up on it! They wind up owning everything, not only the money, they own it all!
21. THIS IS JUST EXACTLY THE KIND OF SITUATION THE ... PROTOCOLS PREDICTED, & you might compare it to the way Joseph got the people of Egypt to sell their very bodies to them for food! They're not the ones who lose, the ones at the top, they now own countries! They have countries owing them millions, billions! They no longer just foreclose on the big banks at the top & savings & loans associations‚ businesses, industries & jobs, they start foreclosing on countries because the countries can't pay their debts!
22. MANY COUNTRIES HAVE HEAVED SIGHS OF RELIEF BECAUSE THEY HAVE BEEN ABLE TO BORROW MONEY TO SURVIVE, to try to keep from going completely broke & absolutely bankrupt & in financial chaos, the kind of chaos that usually results in overthrow of the government! For when the banks & the businesses & the economy collapses, often the government goes with it & the starving people rise up in insurrection & take over! A man will fight & die for his stomach & it's happened for thousands of years!
23. LET'S FIRST CONSIDER THE UNITED STATES WHERE MOST OF THESE BANKS & BANKERS ARE, PLUS EUROPE. As the Dollar tumbles & these banks see it & they help it tumble by unloading Dollars & the whole situation begins to start to come down‚ what chance do you think there is of these poor countries actually getting those loans? (Peter: Not much!) Do you think while those banks are failing & going broke & bankrupt & collapsing, they're going to shell out millions of Dollars to anyone?—No!—The countries & their governments will collapse & all Hell will break loose & it'll take a Superman—the Antichrist—to solve it!—So after the Crash, he comes next!—Are we ready? GBAKY investing in souls!—Souls that'll never be lost but saved forever!—In Jesus' name, amen!