Banks Catalyst for Economic Crash

Below is a copy of September’s newsletter posted at In it contains prophecy that I would also like to share on this ministry page. Please be prayerful as you read so that you can hear instructions from the Lord for your personal situation.


It is good to communicate with you again. Please accept my apologies for the gap between newsletters. During the last 6 months, the Lord has been re-positioning me spiritually and also physically. Since I last communicated with you, I have moved out of California, am currently in Minnesota and preparing to move to Nebraska where the Lord is sending me. It is His will that The Cover Club be expanded there.  This summer I have been spending time with my family in Minnesota and healing from the spiritual battles I have had over the past several months. Now it is time to prepare for the next phase and also help the body of Christ prepare for what will eventually happen within our financial system in the United States. During this time the burden of The Cover Club has never left me. The Lord has reminded me that The Cover Club is a Joseph ministry. The Cover Club’s purpose is to serve as an interim financial safety net for the body of Christ in the mist of the financial and economic chaos when our country and the world transitions to new systems of commerce.

In fact,bank-collapse the Lord has been speaking to me about specific things concerning the state of our banking system and how the banking system in our country and around the world will be one of the catalysts for the financial downturn that is coming to America. In a previous newsletter no. 7 (volume 2, no 7) I spoke about Dubai becoming the new financial center for the world replacing Great Britain and New York. What I did not say and did not know at the time is that there will also be a new financial center for the United States. However, the new financial center must be prepared and brought in existence through both prayer and natural means. There is much preparation that needs to be made so that the new financial center is Kingdom focused. I will discuss America’s new financial center in more detail an upcoming newsletter.

Frankly, those who are in the banking and finance industry know that our financial system is going to fail us. It is just a matter of time.  There will be a new system of money, and new systems of commerce. The story of Joseph is about storing up grain as provision for the seven years of famine (Genesis 41). Those who are called to be Josephs in this hour are called to do the same in their respective areas of ministry. For The Cover Club, currency is our ‘grain’. In a time when the dollar will inflate to the point of no return, the specific currencies will increase in value in the world currency markets. When others are struggling because they do not have the necessary finances in USD, those of you who have seen and understood the vision of The Cover Club will have the resources and will then be in a position to carry out Kingdom work during this interim period. The interim period also serves as a bridge to the new economy.

According to Neville Johnson the economic meltdown is judgment on our system of greed and injustice and now is the time for the Josephs to rise up into power in preparation for an economic downturn crisis. The Lord is rising up Josephs around the world just as He is rising up The Cover Club, a strong natural and prophetic indication that there really is going to be an economic crisis in the earth. Because of the greed and injustice in our banking systems and because the lessons given by God were not learned with the 2008 financial crisis in our country and the world, the next crisis is going to be greater than the last. There are some that have prophesied that the New World Order wants to put in new systems of commerce replacing our current system possibly with a chip, I believe this to be true. But God also wants His economy in place. In either case, The Cover Club will act as an interim economic vehicle and also an instrument for wealth transfer as the economy and our world is transitioning.

What will happen with the Banks?

About 10 years ago, the Lord showed me that the people of the United States will barter for goods and services for a short period of time. He said, “What we see as valuable today will have no value during this time and what we perceive as having no value today will have great value for trading while we are in this temporary system”. Why will we barter? The reason is because we will not have access to our money that sits in our bank accounts.

I believe there will be events that will lead to banks shutting down, possibly for months. One aspect of the catalyst that will cause the American banks to shut down is a financial instrument called derivatives. Banks around the world are heavily investing into this volatile financial instrument. These investments have increased significantly since the 2008 mortgage crisis.

What is a Derivative?

A derivative is a financial security such as a futures contract and option contract or mortgage-backed security. Derivatives get their value from an underlying asset in which the agreement between a buyer and seller that predicts how much the asset price will change within a specified period of time. The underlying asset can be oil, gold, agricultural, energy products, stocks, bonds and even currencies including the US dollar. For example, if the current price of oil were trading at $48 dollars a barrel, a contract could be created to state that two days from now, oil will be trading at $50 a barrel.  You can purchase this option agreeing with the price of $50 a barrel or you can purchase the option disagreeing. At the end of the two days, if the price of oil is any amount less than $50 a barrel, then the person who agreed looses and has to pay the price difference to the person who disagreed. If the price of oil is more than $50 a barrel, say $55 then the person who agreed wins and gets a payment of $5 from the person who disagreed. A derivative is risky because with these contracts, it is not always possible to know what is actually happening with the underlying asset, especially if the contract will expire a few months or a few years in the future. Once a contract is made, the contract must be honored.

It is estimated that US banks have invested nearly $247 trillion dollars in derivatives. Outstanding derivatives contracts around the world are at $552.9 trillion dollars according to the Bank for International Settlements (

It is my belief that it will be the derivatives market crash that will cause the banks to shut down not giving Americans access to their funds for a short period of time, possibly as long as six months.

David Wilkerson, a prophet, received a prophecy many years ago concerning the collapse of banks. I would like to share an excerpt of the prophecy with you….

“It is just about to happen very soon; and I am speaking prophetically. If I’ve ever heard anything from God in my life I heard it! About the nations! Poland owes $30 billion and they haven’t even paid the interest in two years! Saudi Arabia is behind on their payments on $8 billion – the richest country in the world as far as Arab states and it is not paying its bills! Very soon a European or North African or Eastern nation is going to default on its international loan and when that happens within two weeks Mexico is going to default. Mexico owes $100 billion – 80% of it to American banks – and here is what is going to happen: About two weeks after the first country goes bankrupt we are going to survive that because most of that money is owed to European banks; German, Swiss and French banks. The 2nd country is going to go down probably Argentina or Brazil and we will kind of live that out and people will settle down and say “Well maybe it’s not going to hurt.” But two weeks after the first country goes down, Mexico is going to default on $100 billion. And when the banks open the next day at 9:00 am in the morning $15 billion an hour is going to be withdrawn from our American banks. They are going to be running our banks; the Arabs, all the Latin American countries. They are going to be running our banks – and before the day is over the United States is going to have to declare a bank holiday. And we are going into six months of the worst hell America has ever seen! There is going to be chaos! Not even the National Guard is going to be able to quiet it down. We are going to have to call out the whole United States Army.

“Now I’ve had visions recently for I’ve been in New York City and I was in Macy’s in vision and I saw people walking around stunned because they couldn’t get their money out the bank. Now I’m going to give you a word of advice. The first country that goes bankrupt, and I’ve documented this and I’ve got it sealed in an envelope and I’m going to call all my friends and I’m telling you – this is the first time I’ve said it in a public meeting like this – but the first country that bellies up you get every dime you have – church get your money out of the bank because you’ve got two weeks because there’s going to be a bank holiday and you won’t be able to get a dime for six months. ….”

How will the drama play out?

Because of the bank failure in 2008, laws have been changed and contingency plans put in place to protect the taxpayer. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 gives’ the Federal Deposit and Insurance Corporation (FDIC) broader powers to make decisions concerning banks in default.

However, Title II, Section 210 of the Dodd-Frank law legalized derivative contracts for banks and other financial institutions which make them legally binding and must be honored whether it is a loss or a gain regardless of whether the financial institution is insolvent or not. What this means is that if the banks have a bad derivative contract, by law they have to pay regardless of if they have the means to do so. These contracts are insured by the FDIC. Currently, it is estimated that the top 5 “Too Big to Fail” financial institutions have about $231 Trillion in derivative investments. The amount may not show up on their balance sheets because the contracts that are not yet due, some of them 10-20 years out, are not required to be reported. Not all of the derivative trading is risky, some are considered safe. But the trading that is more risky will affect all of the trading. More detail of the top banks and the amount of the derivative investments can be found on the website,

“I view derivatives as time bombs, both for the parties that deal in them and the economic system.” Warren Buffet, 2002

I believe the derivatives market is going to cause the banks to crash and will be a catalyst for a run on the banks. I also believe it is possible that the bank failure could result in a nationwide martial law that so many prophets have seen.

In the stock market crash of 1929, the run on the banks was primarily individual account holders. When the run on the banks in the United States happens, it is going to be countries and other foreign investors that will be pulling money out of American banks. However, they are not coming through the front doors of the banks to withdrawal the money so the average American will not be aware of what is happening. Banks transact business with each other electronically such as wire transfers and direct debits. The average American will not likely be aware of a problem until the doors of the bank are locked and they are unable to retrieve funds out of the ATM.

I don’t believe the FDIC will be much help for individual depositors because there just is not enough insurance to cover both failed derivative contracts and the US depositors. See Deposit chart at Further, the Dodd-Frank law gives the FDIC authority to use depositor funds to satisfy creditors in the case of bank default.

As Cover Club members, please pray for the Lord’s covering, His revelation strategy, and the necessary resources to accomplish His will as part of the Joseph Company.

Blessings and Shalom!


Sonja Felder

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