Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.”
-Jim Bakker in “Prosperity and the Coming Apocalypse”
Eurozone ministers are gathering in Luxembourg to discuss plans to lower government borrowing costs as Spain’s bond yields hit a 16 year high.
The government paid a yield of 6.07% on five year bonds up from 4.96% in May. The 2.2 billion euros raised will fund 61% of the Spanish government’s operations and debt payments for the rest of 2012.
Despite the bailout from the EU, investors are apparently keeping some faith in Spain’s ability to repay debts based on the level of investment money pouring into the bonds.
Independent auditors are scheduled on Thursday to reveal the size of debts by Spanish banks related to risky lending practices. The Spanish government was reportedly waiting for the auditor results before making a formal request for bailout funds. In a previous meeting, the EU leaders approved up to 100 billion euro in bailout money.
