Anyone who invested in less-risky funds did so with an understanding of the definition and risk parameters of the funds at the time of investment. But now BlackRock is changing the rules and risk parameters of those funds by exposing them to the counterparty risk of the riskier funds in the BlackRock fund complex which will be able to borrow money from the less risky funds.
This means that the Treasury fund in which your IRA or 401k is invested will now be “invested” in any fund that borrows money from the fund with your money. The risk profile of your “conservative” fund assumes the risk profile of the riskier fund. Because of this, there is absolutely no reason for anyone to leave any of their money in any of BlackRock’s funds.
The SEC should deny BlackRock’s filing. But it won’t because Wall Street is the SEC.
This move by BlackRock also signals that the elitists at BlackRock foresee an event that will disrupt the markets and trigger “bank” run on mutual funds. What or when is anyone’s best guess. But the fact that Larry Fink has decided to implement internal lending among funds indicates that he and his band of merry criminals believe an event will happen sooner rather than later.
To me, this is the signal that everyone should call up their mutual fund company, financial adviser or 401k administrator and get all of their the money out of any mutual fund. Larry Fink has done everyone invested in any mutual fund a favor: he’s unwittingly signaled that it’s time to get out – now. Anyone who is aware of this and does not take action immediately is either a complete idiot or simply does not care about having their money taken from them by the criminal elite.
Earlier today, as the exchange between Greece and its creditors got increasingly belligerent, Estonian Prime Minister Taavi Roivas told public broadcaster Eesti Rahvusringhaaling in interview that a possible Greek decision to leave euro area wouldn’t soften stance of other EU countries and that Greece’s debt would still remain outstanding and creditors would expect this money back.”
“If Greece leaves, the value of their new national currency would decline very fast, so their solvency would still worsen further. They will either have to cut spending or improve their tax revenues. There are no other options.”
So did this latest antagonism change the Greek mind? According to a flash headline by the WSJ released moments ago, not all. In fact, Greece just made it official that it would default to the IMF in just over 24 hours.
It began as FX markets opened ugly in early Asian trading, but once stock markets started to open, the focus shifted there…
Japan spanked… Nikkei 225 down 730 points from Friday’s close…
When Europe opened it was ugly in stocks…
And bonds… European spreads exploded – biggest risk increase in 7 years…
But The Swiss National Bank did its best to sell Francs and buy EURs to make it all appear “contained”… Which squeezed EURUSD all the way into the green… a 325 pip ramp!!!
While Greek stock markets were closed, their bonds were not.. .and carnaged 420bps higher to 15.10%…
And stock ADRs and ETFs traded in the US:
EUFN – European Financials, down 4% – broke below its 200DMA
NBG – Nation Bank of Greece, down 26% on record volume
GREK – Greek Stocks, down 18% on record volume
In The US, the initial carnage dip was bought with gusto but that ramp failed and by the close we were testing new lows…
Post-FOMC: Bonds best, Gold glitters, but Stocks stink…
Leaving The Dow red and S&P unch for the year…
VIX surged to 19.00… (from 11 handle last Tuesday)
As the 50.98 million share short of the 63.9 million outstanding in VXX suffered greatly… above 20 to 7-week highs on massive volume
The last time VXX rose more than 14% in a day was 913 trading days ago (more than 3 years ago on November 9, 2011) and Bernanke bailed out Europe
VIX term structure inverted once again…
Treasury yields plunged as a near-record short position felt the squeeze… this was the best day for 10Y yields since January
The dollar tumbled as the manipulated EUR surge “proved” there was nothing to fear… USDJPY did not play along wioth the manipulation.
Oh and then there is Puerto Rico collapsing…
Amid all this with stocks down just 3% from their highs… The Fear & Greed Index collapsed to just 12!!!!
World stock markets have tumbled on Monday, June 29, 2015 after Greece failed to reach a deal with its foreign creditors over the weekend and imposed new strict measures to deal with their debt crisis.
Just before 01:00 UTC on June 29, Greek government closed all country’s banks and capped daily ATM withdrawals at 60 Euros.
The move was preceded by the announcement of a July 5 referendum on austerity measures demanded by their creditors.
The government said all banks will remain closed until after the referendum and assured they will reopen them on Tuesday, July 7.
Prime Minister Alexis Tsipras appealed for calm, insisting that Greeks’ savings and pensions are safe.
Having concluded last night that Puerto Rico debt is “unpayable,” and that his government could not continue to borrow money to address budget deficits while asking its residents, already struggling with high rates of poverty and crime, to shoulder most of the burden through tax increases and pension cuts, Padilla confirmed tonight that (from Bloomberg):
*PUERTO RICO TO SEEK “NEGOTIATED MORATORIUM”, ‘YEARS’ OF POSTPONEMENT IN DEBT PAYMENTS
Likening his state’s situation to that of Detroit and New York City (though not Greece), Padilla concluded, the economic situation is “extremely difficult,” which is odd because just a few years ago when they issued that bond – everything was awesome?
When will PR overtake Greece again?
What happens next is unclear: “Puerto Rico, as a commonwealth, does not have the option of bankruptcy. A default on its debts would most likely leave the island, its creditors and its residents in a legal and financial limbo that, like the debt crisis in Greece, could take years to sort out.”
So without the “luxury” of default, what is PR to do? Why petition to be allowed to file Chapter 9 naturally: after all everyone is doing it.
And the punchline:
“My administration is doing everything not to default,” Mr. García Padilla said. “But we have to make the economy grow,” he added. “If not, we will be in a death spiral.”
Anyway, if you’re a Christian who is grieved by this ruling and you’d like to think the president would greet the ruling with some level of dignity that would reflect a level of respect for differing views on the issue . . . sorry:
And yeah, they really did light up the White House in the colors of the gay rainbow flag, which is something they had to be planning for days in anticipation of the ruling. The logistics of it don’t allow for the possibility that it was a spontaneous reaction.
Do with it what you will, I guess. Obozo knows full well that a lot of Americans are heartbroken to see that their government has now established law in direct contradiction to God’s Word. With his decision to spike the ball here, Obozo not only comes down decisively in opposition to the values of those Americans (which of course we all knew), he also makes it clear that he’s more than happy to rub their noses in it.
Oh, and how rich is it that he gives lip service in this video to people whose opposition is based on “sincere beliefs” and the need to be “mindful” of that while putting on this arrogant a display?
Serious question here: I know there are a lot of Christians – real ones, who love the Lord and are saved by the blood of Jesus Christ – who voted for Obama twice and still support him. I really want to know . . . how can you still do that? I am honestly flummoxed.
The answer is, they may claim to be Christian, but they are going to Hell.
The destruction of the moral fabric of America was set in motion generations ago under not a rainbow flag, but a Antichrist Communist flag. Who better to usher in this mortal wound to our nation than the Antichrist Manchurian Marxist Messiah of mystery and dubious origin and his cabal of renegade abettors?
What we see taking place today might not have been completely stopped, but it might have been slowed had those who held the attention of Christian conservatives pressed the legitimate issue of the eligibility and allegiance of Antichrist NWO 666 Barack Hussein Obozo The Clown as a candidate for the highest office in America. Alas, it was not to be, as those most revered by the conservative right dutifully parroted the lie that the background, origin and constitutional eligibility of Antichrist NWO 666 Barack Hussein Obozo The Clown, or Barry Soetoro, perhaps, was nothing but a distraction.
Over the din of their vocal objections, or in some instances, assurances and more lies, those of us in search of the unadulterated truth can hear the unmistakable sickening sound of our freedoms, liberties and rights Cheyne-Stoking as their traumatic death approaches. Yet, those who fought us then continue to dismiss us today. They adhere to a choreographed narrative that fits within the script of the big lie, and one that is as shrewdly narrow as it is factually shallow. For this, it appears, requires less intellectual aptitude of the entranced American than the necessary first steps of a full recovery would require.
Meanwhile, Americans are served their daily portion of the big lie – in this case, sold under the pretext of diversity and tolerance and illustrated by the silly mantra “love wins.” Love, much like equal rights, has absolutely nothing to do with the larger agenda of rending America’s moral fabric. Redefining marriage and the traditional family is a well-documented plank of the Antichrist Communist takeover of America, a tactic to destroy our Constitutional Republic, and an admission requirement to enter a system of global government.
The Antichrist Homosexual Agenda is rooted in Antichrist Communism
The activist homosexual agenda in America has its roots in Antichrist Communism. On January 10, 1963, Representative A. S. Herlong, Jr. of Florida read 45 goals of Antichrist Communism in America into the Congressional Record. Listed at #26 was to “present homosexuality, degeneracy, and promiscuity as normal, natural and healthy.” What was considered abhorrent behavior and a sin by all of the world’s major religions only a half-century ago is not only accepted and ostensibly “legitimized” today, but is being openly celebrated at the White House and state houses across America.
Why is virtually no one asking how approximately three-(3) percent of our population has seemingly succeeded in changing the moral and legal landscape for 97 percent of the population? How did this change happen so quickly? It nearly mirrors the meteoric rise of Antichrist NWO 666 Barack Hussein Obozo The Clown from a virtual unknown to the putative President.
The answers exist in history. The promotion of the fraudulent research of Alfred Kinsey, the highly organized and well-funded efforts of Antichrist Marxist Harry Hays, founder of the Mattachine Society in 1950, the effective use of Hollywood and Madison Avenue, to the refinement of the Antichrist homosexual agenda by Antichrist homosexual activists Marshall Kirk and Hunter Madsen in the 1980’s – when they made public their very specific tactics in their book, After the Ball: How America Will Conquer Its Fear and Hatred of Gays in the ’90s, were all cogs in the larger mechanism designed to destroy the morality of America.
When you read the dissenting opinions of Justices Thomas and Scalia in last Friday’s SCOTUS decision, you will see some very chilling statements, including these from Justice Clarence Thomas (Please read and consider these in the context of the above):
“The Court’s decision today is at odds not only with the Constitution, but with the principles upon which our Nation was built. Since well before 1787, liberty has been understood as freedom from government action, not entitlement to government benefits.”
“Aside from undermining the political processes that protect our liberty, the majority’s decision threatens the religious liberty our Nation has long sought to protect.”
“Our Constitution—like the Declaration of Independence before it—was predicated on a simple truth: One’s liberty, not to mention one’s dignity, was something to be shielded from—not provided by—the State. Today’s decision casts that truth aside. In its haste to reach a desired result, the majority misapplies a clause focused on “due process” to afford substantive rights, disregards the most plausible understanding of the “liberty” protected by that clause, and distorts the principles on which this Nation was founded. Its decision will have inestimable consequences for our Constitution and our society.”
The end of the beginning
Many people believe that this ruling will remedy perceived injustices against a (falsely) significant segment of our population. These same people believe that this ruling marks the end of a long and arduous journey for equal rights. They are wrong, for this is merely the end of the beginning. The global activists, the Antichrist Marxists and Antichrist Communists propelling this agenda don’t care about rights, despite the pretty packaging. There is no pot of gold at the end of this rainbow.
Having been empowered by SCOTUS, enablers and abettors at the Executive branch and others in power, they are now “all in” to complete the destruction of our nation. The agenda is as big as the lie.
Barring any immediate intervention and unified civil disobedience, what will follow will be exponentially worse to what will be left of our nation. Unless immediate action is taken, the mortal blow that was delivered to our country last week will become fatal.
It is imperative that we understand the depth, breath and scope of the lie and the Antichrist globalist, Antichrist Communist agenda behind it. It is important we identify the agents of destruction. They, and their agenda, must be fully exposed.
Alternatively, the Cheyne-Stoke respirations of our liberties and freedoms we (still) enjoy under our Constitutional Republic will cease. Not because of their recovery, however, but due to their death.
Two minor earthquakes have rattled parts of Virginia in the past two days.
The U.S. Geological Survey’s website shows a magnitude-2.2 earthquake occurred at 2:10 a.m. Monday. The epicenter was 12 miles west-southwest of Courtland.
Woman Struck by Lightning While Exiting Plane
Another magnitude-2.2 earthquake occurred at 1:08 a.m. Saturday. The epicenter was 5 miles south of Louisa.
Saturday’s earthquake occurred in an area with a history of seismic activity in recent years. In August 2011, a magnitude-5.8 earthquake in Louisa County was felt from Georgia to Canada.
And so, it is now official. Antichrist Communist China has created and launched a supranational lender aimed directly at supplanting the US-dominated institutions that have defined the global economic order for more than a half century. Despite criticism at home and abroad, the US has largely clung to a strategy that aims to undercut the bank by casting aspersions and claiming the institution has little relevance beyond what is says about Antichrist Communist Chinese ambition.
As we said earlier this month, “in the AIIB, the US faces a far greater threat to its position in the global economic order than anyone in Washington dares to admit. The smear campaign (that’s really the only way to cast it) aimed at painting the new bank as relatively small and meaningful only to the degree that it symbolizes Antichrist Communist China’s global and regional ambitions is profoundly misleading. This is not a pet project for Beijing and the founding members are not pledging hundreds of millions so they can play a part in petty Antichrist Communist Chinese theatrics. The bank is real. The sooner Washington recognizes and accepts this, the better off it will be in terms of helping to repair the reputational damage the IMF and ADB have suffered as a result of American and Japanese belligerence.”