Showing posts from October 25, 2011

Elder Bednar: Testimony will not be enough 10/23/11

Elder Bednar: Testimony will not be enough 10/23/11 Visiting in SLC yesterday at the Spoken Word and had the opportunity to listen afterwards at a Regional Conference in the Conference Center. Sister Dalton, Craig Christianson of the Seventy and Elder Bednar of the Twelve spoke. I will try to convey what I heard and felt from the last speaker

The point was shared that testimony will not be enough in the coming days, that we need a conversion to the Lord strengthened by 1) Conversion 2) character of Christ 3) Atonement. It was stressed the need to read and study the references given and to find more examples.
1) Look up Alma 23:5 That thousands were brought to the knowledge of the Lord (testimony) and when they had testimony and conversion they never fell away. We must convert to the Lord and again stressed that testimony alone will not be enough in latter-days.

Look up Matt 25 and the Parable of the Ten Virgins, liking lamp to testimony and oil to conversion and read thewhole scripture u…

Euro Plunges/Gold Soars/Coming Apart?

Euro Plunges/Gold Soars/Coming Apart?

As we warned an hour or so ago... Euro plunges.

According to the Zerohedge, three potential stories are driving it.

1. Italy ready to collapse
2. France cancels Wednesday meeting, but Europe is calling for IMF to run a $1.4 trillion dollar ESFS to deal with crisis (where do you think IMF gets the money to do this hint hint)
3. Fed may print $600 billion more

Guess Who’s Even More Leveraged Than the European Banks?

While the world is awash in liquidity, no one seems to notice that it’s actually in the form of leverage or cheap debt, NOT real capital or equity.

The US banking system as a whole is leveraged at 13-to-1. While this is not horrible relative to Europe’s banking system (more on this in a moment), these levels still mean that an 8% drop in asset values wipes out ALL equity.

Then you have Europe’s banking system, which is leveraged at 26-to-1. Anecdotally, this is borderline Lehman Brothers (30 …