Report From The Tower
The Lord had told me to expect that events He had shown me would begin to transpire between September and November, 2008. He gave me this word on May 28, 2008 regarding Seventeen Years And Then The Events Will Come The revelations referred to a September, 1991 prophecy about economic collapse and a November 21, 1991 prophecy about Chaos and Tumult seen over Europe...Financial Reversal To Herald Calamity
The first hint that something big was starting for me occurred on August 25, 2008 where the Lord spoke a word to me that "the devil's allotted time to hinder our work has expired". Then, on the morning of August 29, 2008, I awoke at 3:50 AM and the Lord led me to leave now, to go to meet with my fellow prophet in Amherst, VA. The drive took me 19 hours to complete. When I left Florida, Gustav was a tropical storm. When I arrived in Virginia, Gustav was now a hurricane with winds of 145 mph. This was significant because the name Gustav means "The Staff Of The Lord". The next day, August 31, 2008, saw stock market volatility. The Government was conducting hearings on the Financial crisis. Prophet Matthew presented me with my cedar staff in the afternoon that he had chopped down and brought to me from the State of Washington.
Ike became a hurricane on September 3, 2008 and it hit Galveston with a direct hit on September 13, 2008. The false teacher Pat Holliday, who had confronted us, calling us false prophets and who had publicly told the people of Galveston that they did not need to leave their island, but that Jesus would protect them, now had blood on her hands as thousands were killed and missing.
The rest of the events that I will talk about between September, 2008 through March, 2009 have to do with the financial crisis. The stock market, as displayed by changes in the Dow Jones Industrial Average, reached its pre-crash, all-time high on October 9, 2007, closing at 14,164.43. Almost 18 months later, The DOW had fallen more than 50% to 6,594.44 on March 5, 2009. This timeline summarizes the financial highlight events of the period:
Sunday, September 14, 2008
Lehman Brothers collapses. Lehman Brothers stock lost 94% of their value, making them nearly worthless after markets closed on Sept. 15. The company announced its intention to file for Chapter 11 with the U.S. Bankruptcy Court, the largest ever announced in the United States.
Bank of America brought Merrill Lynch for $50 billion in stock.
American International Group (AIG), the nation's largest insurer, said that it planned to sell some of its troubled assets in order to raise cash and boost investors confidence.
The Federal Reserve, along with 10 banks, announced a $70 billion pool of funds to aid troubled financial firms. It also loosened its lending restrictions.
Monday, September 15, 2008
DOW lost more than 500 points after Lehman Brothers' collapse and Bank of America buyout.
American International Group (AIG) was downgraded with $1.1 trillions in assets. Investors feared that a collapse would severely hurt consumers and tighten the credit crunch.
Tuesday, September 16, 2008
DOW jumped 140 points at closing.
British bank Barclays agreed to buy up to $2 billions of Lehman Brothers' assets.
The Federal government allowed an $85 billion bailout to AIG and now had 80% stake in company
Wednesday, September 17, 2008
The price of gold rose $70, to a new record
The price of oil rose $6, its largest jump.
Yield on 3 months Treasury note fell .02%, lowest level since 1940.
DOW dropped 450 points.
Goldman Sachs shares dropped to less than $100, first time since 2005.
Thursday, September 18, 2008
The Fed convinced five other central banks worldwide to invest $180 billions in global financial markets.
American International Group replaced with food giant Kraft in DOW.
Dow gained more than 400 points.
Department of Treasury Secretary Paulson met with Congressional leaders about details of large scale bailout.
Friday, September 19, 2008
U.S Securities and Exchange Commission (SEC) took "emergency action" temporarily banned investors from short selling.
Department of Treasury insured up to $50 billions in struggling money market fund investments at financial companies.
Saturday, September 20, 2008
The DOW fell 777.68 points: the most in any single day in history
The administration asked for $700 billion to buy troubled mortgage assets and get the financial system flowing again.
Monday, September 22, 2008
The price of oil surged more than $25, its biggest dollar gain ever, to $130 a barrel before settling at $120 as big investor scrambled to fill obligations as the October contract expired.
Tuesday, September 23, 2008
Department Treasury Secretary Paulson and Federal Reserve Chairman Bernanke went before the Senate Banking Committee to defend the Bush administration's bailout plan. The two faced strong criticism from both Democrats and Republicans who argued that the program needed more restrictions.
After the market close, Goldman Sachs announced that it will raise capital by selling $5 billion of preferred stock to Berkshire Hathaway.
Wednesday, September 24, 2008
Debate about the Bush administration's proposed $700 billion continued in front of the House Financial Services Committee.
President Bush made a televised speech. "We are in the midst of a serious financial crisis," he said. "Our entire economy is in danger."
Thursday, September 25, 2008
Key lawmakers announced that they reached an agreement on set principles for legislation in order to enact the Bush administration's proposal.
Congressional leaders and presidential nominees Barack Obama and John McCain met with President Bush and Secretary Paulson at the White House, the negotiations broke down, revealing a split between Democrats and Republicans.
Washington Mutual collapsed, marking the biggest bank failure in history.
Federal regulators orchestrated a deal in which JPMorgan Chase paid $1.9 billion for Washington Mutual's assets.
Saturday, September 27, 2008
Negotiators contacted billionaire investor Warren Buffet for guidance, and according to two sources, he warned if Congress did not act, the nation would face the "biggest financial meltdown in American history."
After midnight, congressional leaders said they reached a tentative deal and aimed to have draft legislation by Sunday evening.
Key points included who would oversee the program, when the money would go out, government stakes in companies to mitigate taxpayer losses and curbs on executive compensation.
Monday, October 6, 2008
The DOW dropped 800 points, closing below 10,000 points for the first time in four years.
November 20, 2008
The DOW had now plummeted to 7,552.29, a new low. But the stock market crash of 2008 was not yet over. 7,552.29, a new low.But the stock market crash of 2008 was not yet over.
December 29, 2008
The Federal bailout of General Motors begins, which will eventually cost the government more than $11 Billion.
March 5, 2009
The Dow plummeted to 6,594.44 on March 5, 2009. This was the true market bottom.
Stephen L. Bening
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