On May 12, 2015, Cindy wrote a trip report letting you know what led up to last April’s prayer journey and shared briefly what the prophets and intercessors were saying regarding the U. S. economy shaking this coming fall. She shared that the foundation for the trip actually began in January 2008, when she heard the Lord say there was about to be a severe shaking of the economy and it had the potential to be as bad or worse than the Great Depression! His words were, “There will be no more business as usual.” She also called for prayer teams to come to New York at that time to pray over the financial arena on October 29, the anniversary of the 1929 stock market crash. The stock market crashed on September 9, 2008—just before we went.
During the 2008 trip, we were able to pray on the floor of the stock market, as well as at the Federal Reserve and at the bull on Wall Street.
- We asked the Lord to expose corruption in the financial systems and in specific types of stock trades.
- We repented publicly as a group for our personal and national financial sins of fear and greed.
- One of our teams declared that “flash-crashes” would cease. A flash crash is a rapid, deep fall in stock and other investment prices over an extremely short period of time facilitated by electronic trading.
- We prayed for grace for the stock traders working on the floor of the exchange who were clearly hurting. Many of them were fearful for the loss of their jobs and confused by some of the activity they were witnessing. They asked us for prayer as we walked the trading floor with them.
At the end of April this year, our Generals prayed similar things at similar locations in response to the many prophetic words regarding the potential for financial judgement this fall. On the trip and since we returned, we have found the following clear answers to our prayers, some being gradually answered since 2008. I believe the prayers of this April’s trip added to the prayers of the first trip resulted in the answers seen within weeks of returning from New York—most appearing to have been resolved as a result of that second dose of intercession this April!
- This year, we discovered that there are stock traders praying together regularly on the floor of the New York Stock Exchange that were not praying together in 2008. This was very encouraging! The traders, however, were still very concerned about what they were seeing on a day to day basis and expressed that concern to some of our Generals. Intercessors in NYC are planning to go back in and pray with them regularly.
- Stock manipulation schemes have been uncovered!1
- Flash crashes, reaching a height in 2008, have all but ended.2, 3 During the April event, Jerry Tuma, President of Cornerstone Financial Services, taught on the current state of the economy and on flash crashes and their effect on the stock markets. Decrees were made in April that this practice will stop. Continue to pray that this does not become a problem again this fall.
- Currency price manipulation, fueled by actions rooted in greed by the largest banks on Wall Street coupled with a few large international banks, has been exposed; convictions and fines have been levied since our April trip.4, 5, 6
One additional thing prayed for this year is that the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 be repealed. Meant to be a protectionist response to the financial collapse of 2008, the regulatory policies it instituted have hurt community banks and individuals, while large banks appear to have benefitted.7 Result:
- Within a month of our Generals praying in NYC, the Senate Banking Committee cleared legislation to provide relief from many components of the Dodd-Frank Act!8 On June 22, it was decided to be considered by the Senate as a whole.
I am sure there are many more examples and other laws that have been passed to help stop this level of corruption in answer to our prayers. The direct answers to prayer above give us something to thank the Lord for! Cindy is continuing to listen carefully to the Holy Spirit about this fall.
- U.S. Attorney’s Office. “Two Canadian Men Admit Roles in $17 Million Microcap Stock Manipulation Scheme.” FBI. 28 May 2015 www.fbi.gov/newark/press-releases/2015/two-canadian-men-admit-roles-in-17-million-microcap-stock-manipulation-scheme
- “Flash Equity Failures.” Nanex.net. 29 November 2010, updated 4 February 2011. www.nanex.net/FlashCrashEquities/FlashCrashAnalysis_Equities.html
- Rosenfeld, Everett. “UK trader charged for manipulation contributing to 2010 flash crash.” CNBC.com. 21 April 2015. www.cnbc.com/id/102573733
- Norris, Floyd. “Banks’ Ability to Rig Rates Shows Need For Change.” Off the Charts; NYTimes.com. 6 July 2012. www.nytimes.com/2012/07/07/business/economy/banks-ability-to-rig-libor-shows-a-change-is-needed.html
- Corkery, Michael and Protess, Ben. “Rigging of Foreign Exchange Market Makes Felons of Top Banks.” DealB%k; NYTimes.com. 20 May 2015. www.nytimes.com/2015/05/21/business/dealbook/5-big-banks-to-pay-billions-and-plead-guilty-in-currency-and-interest-rate-cases.html
- Protess, Ben, et.al. “U.S. Investigates Currency Trader by Major Banks”. DealB%k; NYTimes.com. 14 November 2013 dealbook.nytimes.com/2013/11/14/u-s-investigates-currency-trades-bymajorbanks/
- Morrisey, Edward. “The Spectacular Too Big Failure of Dodd-Frank.” TheFiscalTimes.com. 12 February 2015. www.thefiscaltimes.com/Columns/2015/02/12/Spectacular-Way-Too-Big-Failure-Dodd-Frank
- Flaherty, Michael and Lynch, Sarah. “Senate Committee Passes Dodd-Frank Relief Bill Without Democrats.” InsuranceJournal.com. 22 May 2015. www.insurancejournal.com/news/national/2015/05/22/369109.htm