Question: Are we heading towards a crash of the markets and then building up something new, or are we more dealing with a gradual change towards a new economy? Can you elaborate on that a little more?
Answer from Ascended Master Saint Germain through Kim Michaels.
Well, it is both. We are working on a gradual change towards a new economy, and there is a gradual upward movement. As is always the case, and as Mother Mary said about the pendulum swinging back and forth, it is still necessary that people see extremes before they can free themselves from the old consciousness. So there will be ups and downs in the market.
There is no question about it. Will there be a crash as severe as 2008 or 1929? Again, this is very difficult to predict because it depends on how people respond. What I have said before is that you have an economy today that is entirely driven by perception. If people go into a panic and think that the market is going to crash, and it is about pulling your money out as soon as you can and taking whatever losses you have to take in order to have something left, then the crash could be precipitated within 24 hours.
I will say, as we have said before, that there was the potential for a third world war, and every day that passed without the war manifesting in the physical, the less likely it would be that it would happen. It is the same way with the economy right now. For every day that passes, there is less of a risk. I will say that the months of September and October or the first half of October , especially this year, do carry a certain risk of some very big swings in the markets around the world, especially in the United States and Europe. There will also, of course, be a severe challenge to Europe and the Euro not only because of the Greek debt crisis but because of the planetary debt crisis.
In terms of a new money system, yes, there will be a new money system that will gradually be brought forth. What will, first of all, happen is that there will be a challenge to the debt-based money system. It will come simply because of the fact that not only Greece but many other countries will have reached a level of national debt where the interest payments have become too big to sustain the economy and the living standard in the country. There are two solutions to this. One is to create an entirely new money system that is not based on debt. Since those in control of the economy are not likely to accept this potential, then the more likely scenario is that they will have to find a way to simply neutralize and nullify debt.
It will be necessary to say that certain countries have gotten into such steep national debt that, for the sake of maintaining the present monetary system, it is necessary to simply nullify the debt as if it never happened. There may be different transitions that they will attempt to come up with where they will say that the countries do no longer have the debt but they should still pay the interest, or that the debt is nullified but the countries still owe the interest and now will have to start paying interest on the interest.
They will come up with all kinds of schemes in order to keep having that flow of money from the interest on money that they created out of nothing and therefore do not deserve to receive interest from. They did nothing of value to deserve the return, and that is how the fallen beings steal people’s labor. Because it is, of course, people’s labor and ingenuity that adds value to the economy and therefore creates the increase that makes the economy grow. Interest payments on debt created out of nothing are just sucking the lifeblood out of that upward spiral of the economy.
Copyright © 2015 Kim Michaels