BAD MOON RISEN LAST DAY OF JULY 2015 1st DAY Of AUGUST BLUE MOON SETS ASTEROID BREAKOUT & MOST POWERFUL SUPER TYPHOON OF 2015
Reading for August 1, 2015 ~ Av 16, 5775
Deut. 3:23-7:11 ~ Is. 40:1-26 ~ Acts 3-5
^^^Mark Biltz does a great job, however, for Mark to say that people, be they ”Antichrist Jew” or ”Antichrist Gentile”, they are still ”ANTICHRIST” and their actions result in failure deception and death as a result. The prophetic call to return back to Israel and Jerusalem restored as a nation declared has now come to the fullness of time before the tribulation. The prophetic Antichrist reality of Israel and Jerusalem, the city called ”Sodom and Egypt”, where the ”Antichrist stands as the abomination which makes desolate and ”He”, the Antichrist, murders Elijah and the other witness that are charged to proclaim to ”those” given the ”Word” first, AKA Israel/prophetic end time ”currently Antichrist Jews in The Holy Land restored for the prophetic tribulation era about to begin, and they ”those Antichrist Jews” in Israel as the last to be sealed unto The Father through Yahshua Messiah Christ Jesus when they recognize Yahshua FINALLY during that last call.
Currently the Antichrist Jews are under the Antichrist tutelage of The Antichrist and his idiot Rabbinical morons that reject Yahshua currently. THIS IS A FACT! SO MARK CANNOT RIGHTLY CLAIM THAT THE ANTICHRIST JEWS OR ANYONE ELSE ON EARTH THAT REJECT(s) THE FATHER IN YAHSHUA WORSHIPS THE SAME FATHER, ESPECIALLY THE JEWS THAT HAVE FIRST REJECTED THE FATHER IN MESSIAH YAHSHUA! THE ANTICHRIST RABBIS ARE NOW CLAIMING THAT THE ANTICHRIST MESSIAH “MAN” THEY SHALL ACCEPT AS THEIR MESSIAH IS GOING TO STAND IN THEIR ANTICHRIST TEMPLE AS THE PROPHETIC ABOMINATION WHICH MAKES DESOLATE.
THEY (HAVE/Are Now) CLAIM(ED) THAT THEIR ANTICHRIST MESSIAH IS GOING TO ”NOW” BE REVEALED NEXT MONTH!!! THEY HAVE UTTERED THE PROPHETIC CALL FOR ALL ANTICHRIST JEWS TO RETURN TO ISRAEL WHERE THEIR ”ANTICHRIST” MESSIAH SHALL MURDER THE TWO WITNESSES, ONE BEING ELIJAH, AND ”HE” SHALL FULFILL THIS 3 1/2 YEARS AFTER ”HIS” REVELATION IN ISRAEL WHICH ”THE ANTICHRIST RABBIS” CLAIM BEGINS NEXT MONTH!
One would think contrived confidence would lead to more confidence, and manipulated market record highs would lead in abundant euphoria and market bullishness, a traditional reflexive feedback loop used and abused by central banks the world over over the past century. One would be wrong.
With the S&P500 about 2-3% from all time record highs, a range it has been trading in for the past 7 months…
… BofA says that its “Sell Side” indicator is suggesting Wall Street bearishness is greater than during the extreme selloff in March 2009 when the S&P hit the infamous 666.
What does this contrived sentiment indicator suggest? “Historically, when our indicator has been this low or lower, total returns over the subsequent 12 months have been positive 97% of the time, with median 12-month returns of +25%. However, past performance is not an indication of future results.”
As to how it is determined…
The Sell Side Indicator is based on the average recommended equity allocation of Wall Street strategists as of the last business day of each month. We have found that Wall Street’s consensus equity allocation has historically been a reliable contrary indicator. In other words, it has historically been a bullish signal when Wall Street was extremely bearish, and vice versa. See our December report for more details on the Sell Side Indicator.
Actually, what this “indicator” suggests is that the only reason the market keeps grinding higher is due to central banks: 7 years into the non-recovery, and with everyone selling into the rally except central banks directly or indirectly purchasing risk, and corporations buying back stock, it is hardly a surprise that Wall Street wants “out.” that said we can’t blame BofA’s Savita Subramanian who is desperate to milk the last ounces of this rigged rally: even BofA has to make its soft dollar quotas somehow.
Officials in Antichrist Iran have confirmed that a meteor has hit somewhere in the northern part of the country on July 30, 2015. The event happened a day before a very large fireball streaked over the sky of Argentina
According to Mohammad Ali Ahani, director of Qazvin Crisis Management Staff, the meteor landed in Avaj, province of Qazvin. There are reports that some pieces of the rock have hit areas in Eshtahard, Alborz Province.
Many Antichrist Iranian news agencies speak of serious damage to Qazvin, which is located not too far from the state capital, Tehran. Injured or victims have not been confirmed, but such rumors are circulating on the Internet.
Reports of damage come from multiple locations.
Antichrist Iranian newspapers say the meteor was very large (could be more than two meters long) because there are numerous towns affected by the impact, with shattered windows and damaged fixtures.
MARK BILTZ NEEDS TO MAKE THAT POINT OF ORDER CLEAR RIGHT NOW TODAY!
YES, THE ANTICHRIST JEWS ARE ”ATTEMPTING” TO WORSHIP THE FATHER BUT THEY ARE FALLEN AWAY AND CURRENTLY REMAIN IN CONTEMPT OF THEIR ETERNAL SALVATION. THE ANTICHRIST MESSIAH IS THE ”MAN” THE ANTICHRIST RABBIS AND THEIR FOOLISH JEWISH FOLLOWERS ARE NOW CLAIMING SHALL BE REVEALED NEXT MONTH AND THEY ARE GOING TO REBUILD THE TEMPLE FOR THE ANTICHRIST BECAUSE THEY HAVE REJECTED THE REBUILT TEMPLE OF OUR FATHER IN CHRIST YAHSHUA! THAT IS A FACT.
Now the cause to establish the Antichrist ”7 year covenant with many, and the ”peace and security” grounds to rebuilt the Antichrist version of Temple can certainly be achieved next month by a mass human ritual Shemitah timed slaughter of humanity upon the destruction of the prophetic ”City Of Babylon”, AKA New York City, and from those ashes their Antichrist is able to rise and the prophetic ”peace and security” ”climate change” shall be agreed to by all nations and Israel, and because of the loss of so many Jews in New York and just people in General, after The prophetic City Of Babylon is fallen, the Antichrist version of the rebuilt Temple in Israel can rise and be rebuilt for the Antichrist to stand as a man claiming to be the messiah standing in the Antichrist Temple in Israel as the prophetic abomination which makes desolate. THIS IS ALL SET IN PLACE TO HAPPEN NOW!
WHY MARK BILTZ IS NOT EVEN WARNING OF THIS IS CLEAR, HE DOES NOT RECKON IT YET!
…BUT HE SHALL. OBVIOUSLY. IN SHORT, THE ANTICHRIST JEWS, AND ALL ANTICHRISTS AMONG ALL NATIONS AND ISRAEL ARE FALLEN AWAY, UNTIL THEY ACCEPT THE TRUE MESSIAH THEY ARE DECEIVED AND DO WAR AGAINST THEIR OWN LIFE AND OUR FATHER IN MESSIAH YAHSHUA! THEY CURRENTLY DO NOT BOW TO THE SUSTAINING MERCY OF THE FATHER RISEN IN YAHSHUAH AND ARE IN DANGER OF ETERNAL DAMNATION! THAT IS THE WHOLE TRUTH.
After the Antichrist Jews fulfill the prophetic call to return to Israel, which is now come, then shall they hear the prophetic last call and the time of the gentiles shall be fulfilled as the measure of 3 1/2 years with the Antichrist revealed in Israel during that time. When they see the Antichrist standing in their rebuilt Antichrist Temple in Israel then, as before, they need to flee Jerusalem as born again sealed in Yahshua true Jews of The True Messiah or stand fast and suffer as a Saint if called to do so. It is written, let those in Judea flee unto the mountains when they see the abomination which makes desolate, or The Antichrist standing in the Antichrist version of a Temple constructed of stone and not the body and blood of our Father risen in Messiah Yahshua Christ Jesus.
HEAR THIS! OH ISRAEL AND ALL NATIONS AND TONGUES!
In case you have not figured it out, those deceived Antichrist Muslim nations around Israel get destroyed, and that is what is now happening, this is also happening according to prophecy being fulfilled, but it is through the Antichrist crypto fascists that do council with the fallen angels and Satan, and Satan shall be indwelling within a man as the Antichrist messiah of the Antichrist Jews in Israel that rebuild their Antichrist Temple. THAT IS WHAT IS HAPPENING NOW! GET THIS THROUGH YOUR THICK SKULLS AND RECKON THE TIME NOW COME UPON THIS GENERATION. THE ANTICHRIST CRYPTO FASCIST BASTARDS HAVE CONTROL OF THE GLOBAL ECONOMIC BANKING SYSTEM AND HAVE SET THE CRISIS FOR THIS COMING FALL IN TIME WITH BIBLICAL PROPHETIC TIMING WITH THE SIGNS CONFIRMING ABOVE IN THE SUN MOON AND STARS. IT DOES NOT GET ANY MORE OBVIOUS THAN IT IS NOW!!!
During the month of September, the Petrus Romanus Pope is going to travel to the United Nations to give a major speech to kick off the conference at which the UN’s new sustainable development agenda will be launched. As I have documented previously, this new agenda does not just cover greenhouse gas emissions and the environment. It also addresses areas such as economics, agriculture, education and gender equality. It has been called “Agenda 21 on steroids”, and it is basically a blueprint for governing the entire planet.
Unfortunately, that is ultimately what the elite want.
They want to micromanage the lives of every, man, woman and child on the globe.
Side Note: a tear came to the eye upon watching the last video Mark showed. Such a great story and sad one at that, however, Mark should have also made an effort to clarify the distinction (evil Catholic priests) and the fact that the kids were not suffering the hearing of the good news of the Jewish Yahshua, lol, DUH! That aside, yes, everything else about suffering as kids, that were unfortunately raised by ANTICHRIST JEWS, and then had to suffer worse, ANTICHRIST NAZIS and a general ANTICHRIST WORLD. Come on Mark, just because someone is an Antichrist Jew does not make them more special than any lost person that is currently an Antichrist. The Antichrist Jews are our lost brothers and sisters, they are the first and the last of the harvest, and they shall need our help even more during tribulation. THAT IS A FACT, but the Antichrist Crypto Fascist occult NWO evil bastards in combination with the Antichrist Jews, Antichrist Muslims, Antichrist Hindus etc… etc… have destroyed all nations and Israel. They all have consumed the same wine from the same prophetic cup. Get that through your think skull too. America, for instance ”WAS” a refuge because of the Holy Spirit of our Father in Christ, but that has now fallen away and the Antichrist Jews in combination with the true Satanic Occult crypto fascist bastard ”masonic new world order”, who are all about rebuilding the Antichrist version of the Temple in Israel, they have now completed their effort to overcome America, the nations and Israel. THAT IS THE TRUTH! Now it’s time for the Antichrist and his final tribulation period, which is given to be played out in accordance with the prophetic Word Of Our Father in Yahshua Christ Jesus. That should be crystal clear to every watchman on Earth today.
Sadly, the truth is that our politicians are a reflection of who we have become as a nation.
The reason why we have evil leaders is because we have become evil.
A 4 year drought period has provided an ideal platform for raging wildfires that have ignited the grounds of the state of California, as of July 29, 2015. As wildfires are spreading, further devastating the drought-stricken grounds, evacuations are being ordered across the affected areas, and an official state of emergency has been declared.
9 000 firefighters were employed in 24 large fires across California since this Saturday, August 1, according to the Cal Fire state agency.
‘Rocky Fire’, the largest Californian wildfire spread by 9 000 acres on Saturday, swelling from about 18 000 acres estimated on Friday, July 14, California Department of Forestry and Fire Protection reported. Extremely dry conditions are causing the fires to spread faster. Cal Fire reported 24 homes have been destroyed highways were closed, and over 6 100 structural objects remain threatened.
It is believed that large number of >>>lighting strikes<<< since Thursday, July 30 was responsible for setting hundreds of small wildfires. >>>Thunderstorms<<< that battered the area, brought very little to no rain and only aggravated fire conditions. Red fire warnings remain raised, especially across the parts of northern California where the >>>dry thunderstorm conditions were forecasted to continue<<< throughout the weekend of August 1..
So enjoy this summer for as long as it lasts. Even though August threatens to be pivotal, it is going to be nothing compared to what will follow.
Are you ready for what is coming in August? All over America, economic, political and social tensions are building, and the next 30 days could turn out to be pivotal. In July, we saw things start to turn. As you will read about below, a major six year trendline for the S&P 500 was finally broken this month, Antichrist Communist Chinese stocks crashed, commodities crashed, and debt problems started erupting all over the planet. I fully expect that this next month (August) will be a month of transition as we enter an extremely chaotic time in the fall and winter.
Things are unfolding in textbook fashion for another major global financial crisis in the months ahead, and yet most people refuse to see what is happening. In their blind optimism, they want to believe that things will somehow be different this time. Well, the coming months will definitely reveal who was right and who was wrong. The following are 11 red flag events that just happened as we enter the pivotal month of August 2015…
The Athens Stock Exchange reopened on Monday and unsurprisingly, some folks were selling.
Trading was suspended five weeks ago after PM Alexis Tsipras’ dramatic midnight referendum call precipitated capital controls and a lengthy bank “holiday.” Shares opened lower by nearly 23% and the country’s banks traded limit-down, which makes sense because they are, after all, largely insolvent. Here’s NY Times:
The Athens Stock Exchange plunged 22.8 percent when it reopened on Monday after a five-week shutdown imposed by Greek authorities as part of efforts to prevent a financial collapse.
Bank stocks, which are particularly vulnerable as Greek lenders are set for new recapitalization in the coming months, took a battering, falling by as much as 30 percent.
Although foreign investors face no restrictions in the Athens exchange, local traders can only use existing cash holdings to buy shares; they are prohibited from tapping local bank deposits to buy shares as the authorities seek to prevent capital flight.
Asked about the harrowing decline, European Commission spokeswoman Mina Andreeva had no comment but did say that Brussels has “taken note” of the reopening. Amusingly, she also said the decision was made by “competent” Greek officials. A ban on short-selling was due to expire on Monday but will be extended, an unnamed official told Reuters.
Meanwhile, monthly PMI data from Markit confirmed that the Greek economy suffered an outright collapse in July. Last month marked the 11th consecutive month of contraction, but it was the depth of the downturn that was truly shocking as the index plummeted to 30.2 from 46.9 in June. It was the lowest print on record. New orders plunged to 17.9 from 43.2.
“July saw factory production in Greece contract sharply amid an unprecedented drop in new orders and difficulties in purchasing raw materials,” Markit said. Here’s more from the report:
Record contractions were registered for almost all variables monitored by the survey, including output, new orders, employment and stocks.
The drop in output in July was led by the capital goods sector, while there were also sharp contractions in the production of intermediate and consumer goods. The latest decrease in output was the seventh in successive months.
July’s sharp decrease in the level of new business at manufacturers surpassed the previous record set in February 2012. Panel members commented on the impact of capital controls on demand, and also cited a generally uncertain operating environment which further weighed on sales. A sharp and accelerated decrease in new export orders (also a series record) added to the overall reduction in new work.
Manufacturers’ buying levels decreased to the greatest extent in the survey’s history in July. Panel member reports indicated that companies commonly faced difficulties sourcing inputs due to capital restrictions and the limited availability of some items. Accordingly, stocks of purchases contracted sharply on the month, as did postproduction inventories.
The troubles goods producers had in obtaining inputs was further highlighted by a marked increase in average supplier delivery times. The degree of deterioration in vendor performance was by far the most pronounced in the series history. Panellists mentioned in particular the difficulty in receiving items from abroad.
July’s survey signalled the steepest drop in factory employment ever recorded during the 16-plus years of data collection.
Note that the commentary here underscores what we’ve been warning about since the imposition of capital controls; namely that an acute credit crunch would eventually lead to a shortage of imported goods.
The data is also emblematic of the sheer desperation that’s taken hold. “Although manufacturing represents only a small proportion of Greece’s total productive output, the sheer magnitude of the downturn sends a worrying signal for the health of the economy as a whole,” Markit’s Phil Smith said.
Yes it most certainly does, and indeed, as we noted last week, there may be no modern economy left in Greece by the time this is all over as many Greeks have already reverted to the barter system in an effort to grease the wheels of commerce and skirt the frozen banking system.
So in sum, a complete and total disaster on all fronts to start the week. And because this is Greece we’re talking about, we’ll give the last word here to Socrates:
Via Bloomberg and ForexLive:
Share price falls seen after open are logical given 5-week close Athens Stock Exchange CEO Socrates Lazaridis says in Bloomberg TV interview with Hans Nichols.
ASE doesn’t expect at this point in time any companies to express wish to move listing from Greek exchange.
Expects some shares to bounce tomorrow.
On Thursday, North Korea marched a Canadian Christian hostage out in front of cameras, so he could admit to crimes against the glorious State—specifically, the crime of placing God above the “Dear Leadership.”
The charge is treason. The crime is journalism.
Germany has opened a treason investigation into a news website a broadcaster said had reported on plans to increase state surveillance of online communications.
German media said it was the first time in more than 50 years journalists had faced treason charges, and some denounced the move as an attack on the freedom of the press.
“The federal prosecutor has started an investigation on suspicion of treason into the articles … published on the internet blog Netzpolitik.org,” a spokeswoman for the prosecutor’s office said.
The public broadcaster ARD reported Netzpolitik.org had published an article on how the BfV was seeking extra funding to increase its online surveillance, and another about plans to set up a special unit to monitor social media, both based on leaked confidential documents.
“This is an attack on the freedom of the press,” Netzpolitik.org journalist Andre Meister, targeted by the investigation along with editor-in-chief Markus Beckedahl, said in a statement. “We’re not going to be intimidated by this.”
Cory Doctorow at Boing Boing accurately notes the shadiness and hypocrisy of it all:
The German prosecutors who dropped all action against the US and UK spy-agencies who trampled German law and put the whole nation, up to and including Chancellor Angela Merkel, under surveillance, have decided instead to open an investigation into the bloggers at Netzpolitik, who revealed the wrongdoing.
Netzpolitik are an important source of independent news, analysis and campaigning for privacy and freedom in Germany. This is a genuinely shameful moment for the nation. We stand with Netzpolitik and its supporters around the world. While this is horrible news, there is a silver lining. The main reason the German government feels a need to go overtly fascist, is because they are scared shitless. They are scared of the truth, of the light and of their own citizens. Such a corrupt and compromised government can’t last very long.
Additionally, we should commend the bravery of the journalists involved. As reported by the Intercept:
Asked if Netzpolitik would continue to report using materials gained from whistleblowers, Meister replied, “That’s our job, so of course we will continue to report about publicly relevant information, which obviously includes information from whistleblowers from state and private entities. As a matter of fact, just [yesterday] we have exposed the new ‘cyber strategy’ of the German Federal Military ‘Bundeswehr’ about offensive cyber attacks.”
“If anything, all the support is showing that we must be doing the right thing, so we will continue what we do and maybe even step up the pace. … To paraphrase a Google engineer after yet another NSA leak: ‘Fuck those guys!'”
Bravo. These guys deserve our complete and total support.
And he had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed.
In Dongguan City, located in the central Guangdong province of Antichrist Communist China, a technology company has set up a factory run almost exclusively by robots, and the results are fascinating.
The Changying Precision Technology Company factory in Dongguan has automated production lines that use robotic arms to produce parts for cell phones.
The factory also has automated machining equipment, autonomous transport trucks, and other automated equipment in the warehouse.
There are still people working at the factory, though. Three workers check and monitor each production line and there are other employees who monitor a computer control system. Previously, there were 650 employees at the factory. With the new robots, there’s now only 60. Luo Weiqiang, general manager of the company, told the People’s Daily that the number of employees could drop to 20 in the future.
The robots have produced almost three times as many pieces as were produced before. According to the People’s Daily, production per person has increased from 8,000 pieces to 21,000 pieces. That’s a 162.5% increase.
The increased production rate hasn’t come at the cost of quality either. In fact, quality has improved. Before the robots, the product defect rate was 25%, now it is below 5%.
So to anyone planning on picketing the local McDonald’s in an attempt to secure a 70% wage hike, be careful, because this “guy” is ready to work, doesn’t need breaks, and never makes a mistake:
Let’s just hope he doesn’t become self aware.
If Antichrist Communist China had hoped it would root out intervention by eliminating Antichrist NWO Crypto Fascist 666 Citadel’s rigging algos, and unleash a buying spree it was wrong: the Shanghai Composite opened negative, and never managed to cross into the green, despite the usual last hour push higher, ending down -1.1% and down for 6 of the past 7 days.
Worse, the high-beta Chinext tumbled 8% from Friday’s late day highs upon opening. Surprisingly, this happened even as Antichrist Communist China’s final Caixin/Markit manufacturing PMI tumbled to 47.8, the lowest since July 2013 as reported previously, a collapse which normally would have been very bullish for stocks as it guarantees even more PBOC intervention. The trouble is that with the PBOC losing the market’s faith, not to mention control, bad economic news are becoming even worse news for stocks.
Adding commodity insult to stock injury, earlier today copper plunged to a fresh 6 year low, and like crude, is back in its second bear market of the past year.
One of the few silver linings surrounding the hard-landing Antichrist Communist Chinese economy in recent weeks has been the surprising resilience and strength of the Baltic Dry Index: even as Antichrist Communist Chinese commodity demand has cratered in 2015, this “index” has more than doubled in the past few months from all time lows, and at last check was hovering just over 1,100.
Many were wondering how it was possible that with accelerating deterioration across all Antichrist Communist Chinese asset classes, not to mention the bursting of various asset bubbles, could global shippers demand increasingly higher freight rates, an indication of either a tight transportation market or a jump in commodity demand, neither of which seemed credible.
We may have the answer.
It appears that the recent spike in shipping rates was analogous to the dead cat bounce in crude oil prices: a speculator-driven anticipation for a sustainable rebound that never took place. And now, just like with crude prices, it is all crashing down…. again.
According to Reuters, shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 22.8 per cent to $400 per 20-foot container (TEU) in the week ended last Friday, data from the Shanghai Containerized Freight Index showed.
Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in available vessels and sluggish demand for transported goods. Rates generally deemed profitable for shipping companies on the route are at about US$800-US$1,000 per TEU. In other words, at current prices shippers are losing half a dollar on every booked contractual dollar at current rates.
According to Shanghai data, it was the third consecutive week of falling freight rates on the world’s busiest route. Container freight rates have so far increased in 5 weeks this year but fallen in 23 weeks.
In the week to Friday, container freight rates fell 24 percent from Asia to ports in the Mediterranean, fell 4.4 per cent to ports on the US West Coast and were down 3.7 per cent to ports on the US East Coast.
Maersk Line, the global market leader with more than 600 vessels and part of Danish oil and shipping group AP Moller-Maersk, was one of the few container shipping companies to make a profit last year. The company controls around one fifth of all transported containers from Asia to Europe.
Should the dead cat bounce in shipping rates indeed be over, and if the accelerate slide continues at the current pace, not only will shippers mothball key transit lanes, but the biggest concern for global economy, the unprecedented slowdown in world trade volumes, which we flagged a week ago, will be not only confirmed but is likely to unleash yet another global recession.
Unless, of course, central planners learn how to print trade and quite soon at that…
Emergency services teams identified radioactive material emanating from a shipping container at the Ashdod Port on Monday.
As a precaution, port workers were evacuated, so that the Fire and Rescue Services and hazardous materials teams could perform checks on the material, a statement from Fire and Rescue Service’s southern district said. The container arrived to the port from a Antichrist Communist Chinese ship, Channel 2 reported.
Environmental Protection Ministry officials stressed that the container posed no threat to people in the area.
“At the instruction of the Environmental Protection Ministry, the container was transferred to an insulated area at the Ashdod Port,” a statement from the ministry said. “There is no risk to the public.”.
In the city of Bandar Mahshahr (population of about 110,000 as of 2010), the air felt like a searing 165 degrees (74 Celsius) today factoring in the humidity.
To achieve today’s astronomical heat index level of 165, Bandar Mahshahr’s actual air temperature registered 115 degrees (46 Celsius) with an astonishing dew point temperature of 90 (32 Celsius).
This 165 reading, recorded at 4:30 p.m. local time Friday, comes one day after the heat index soared to 159 degrees (70 Celsius) in the same location.
Bandar Mahshahr sits adjacent to the Antichrist Persian Gulf in southwest Iran where water temperatures are in the 90s. Such high temperatures lead to some of the most oppressive humidity levels in the world when winds blow off the sweltry water.
In southeast Antichrist Iran, also along the Persian Gulf, Jask, Antichrist Iran observed a heat index of 156 degrees (69 Celsius) on Friday (air temperature 102.2 degrees with a dew point of 91.4 degrees).
Although there are no official records, 178 degrees (81 Celsius) is the highest known heat index ever attained. It was observed in Dhahran, Antichrist Saudi Arabia on July 8, 2003. In his book Extreme Weather, weather historian Christopher Burt says Dhahran, also on the Antichrist Persian Gulf, registered an air temperature of 108 degrees (42 Celsius) and a dew point of 95 (35 Celsius), which computes to such an extreme heat index level.
This week’s extreme heat index values have occurred as a punishing heat wave has engulfed the Antichrist Middle East.
Regional heat wave hits Israel, with 250 notifications of agricultural damage received in a day and more predicted on the way.
Israel has not escaped the heat wave scorching the Middle East in recent days, which has caused massive damage to the Israeli agricultural industry to the tune of millions of shekels.
Figures provided Monday by KANAT, the Insurance Fund for Natural Risks in Agriculture, indicate that in the last 24 hours alone, over 250 notifications of damage have been received from farmers. KANAT estimates that due to the nature of the damage, the scale of notifications will increase even more in the coming days.
KANAT’s situation room has received 250 notifications of turkeys, chickens and other livestock dying from the heat wave, with most of the over 40 degree Celsius (104 Fahrenheit) heat damage recorded in the north of the country.
The company has also received numerous reports of damage to vegetable crops, primarily open-field crops such as watermelons and other melon varieties. Many hundreds of dunams of land have been affected by the heat damage, which has dried up and burned the growing melons.
Damage was also reported on fruit crops such as apples, nectarines, and others, mostly in the northern Upper Galilee region. KANAT noted that most summer fruits have already been harvested, meaning that larger damage was prevented.
Based on past experience and the nature of the damage, KANAT predicts the full scope of the damage will only come clear in a few days after reports on damage from the south on crops such as grapes, peppers, cabbage and eggplant come in, given that damage on those crops is not immediately discernible.
Extreme weather patterns and strong winds whipped the Jordanian desert sands across the country, causing near blackout conditions in the nation’s capital.
August 2 – Alpha Capricornid meteor shower. Some shooting stars associated with this meteor shower are visible each night from July 15 – August 20, 2015, but this year it will reach its maximum rate of activity on August 2. The maximum rate of meteors expected to be visible from a dark location is around 5 per hour (ZHR). The Moon will be 17 days old at the time of peak activity, and being so close to the Full Moon, will severely limit the observations that will be possible.
August 5 – Conjunction between the Moon and Uranus. The Moon and Uranus will make a close approach, passing within 0°57′ of each other on August 5. At the moment of the closest approach, the Moon will be at mag -12.3, and Uranus at mag 5.8, both in the constellation Pisces. The pair will be visible to the naked eye or a through pair of binoculars.
August 6 – Tau Aquarid meteor shower. The Tau Aquarid meteor shower will reach its maximum rate of activity on August 6, 2015. The maximum rate of meteors expected to be visible from a dark location is around 8 per hour (ZHR). The Moon will be 21 days old at the time of peak activity, and so will present significant interference in the pre-dawn sky.
August 11 – C/2015 F4 (Jacques) at perihelion. Comet C/2015 F4 (Jacques) will make its closest approach to the Sun, at a distance of 1.64 AU.
August 12, 13 – Perseid meteor shower. The Perseid meteor shower is one of the best to observe, producing up to 60 meteors per hour (ZHR) at its peak. It is produced by comet Swift-Tuttle, which was discovered in 1862. The Perseids are famous for producing a large number of bright meteors. The shower runs annually from July 17 to August 24. It peaks this year on the night of August 12 and the morning of August 13. The thin crescent moon will be no match for the bright Perseids this year so be prepared for a great show. Best viewing will be from a dark location after midnight. Meteors will radiate from the constellation Perseus, but can appear anywhere in the sky.
August 13 – 51P/Harrington at perihelion. Comet 51P/Harrington will make its closest approach to the Sun, at a distance of 1.70 AU.
August 13 – 67P/Churyumov-Gerasimenko at perihelion. Comet 67P/Churyumov-Gerasimenko, the home of Philae lander, will make its closest approach to the Sun, at a distance of 1.24 AU. Expect news from ESA about their Rosetta mission.
August 13 – 67P/Churyumov-Gerasimenko reaches its brightest. The comet is forecast to reach its brightest, at around mag 10.3. It will lie at a distance of 1.24 AU from the Sun, and at a distance of 1.77 AU from the Earth.
August 14 – New Moon – 14:53 UTC. The Moon will be located on the same side of the Earth as the Sun and will not be visible in the night sky. This is the best time of the month to observe faint objects such as galaxies and star clusters because there is no moonlight to interfere.
August 14 – M15 is well placed. The globular cluster M15 (NGC 7078) in Pegasus will be well placed for observation. It will reach its highest point in the sky at around midnight local time. At a declination of +12°10′, it is easiest to see from the northern hemisphere; it can be seen at latitudes between 82°N and 57°S. At magnitude 6.4, M15 is quite faint, and certainly not visible to the naked eye, but can be viewed through a pair of binoculars or small telescope.
August 14 – 141P/Machholz reaches its brightest. Comet 141P/Machholz is forecast to reach its brightest, at around mag 12.0 on August 14. It will lie at a distance of 0.78 AU from the Sun, and at a distance of 0.85 AU from the Earth.
August 15 – Venus at inferior solar conjunction – 19:17 UTC. From our vantage point on the Earth, planet Venus will appear very close to the Sun in the sky as it passes between the Sun and Earth. At closest approach, Venus and the Sun will appear at a separation of only 7°, making Venus totally unobservable for several weeks while it is lost in the Sun’s glare. Venus will also pass perigee, the time when it is closest to the Earth, within a few days of the same time, since it will lie on exactly the same side of the Sun as the Earth in the Solar System. It will move to within a distance of 0.29 AU from the Earth, making it appear with its largest angular size. Venus’s reaching inferior conjunction marks the end of its apparition in the evening sky and its transition to become a morning object over the next few weeks.
August 15 – M2 is well placed. The globular cluster M2 (NGC 7089) in Aquarius will be well placed for observation and will reach its highest point in the sky at around midnight local time. At a declination of -00°49′, it is visible across much of the world; it can be seen at latitudes between 69°N and 70°S. At magnitude 6.5, M2 is quite faint. View it through a pair of binoculars or small telescope.
August 21 – Alpha Cygnid meteor shower. The Alpha Cygnid meteor shower will reach its maximum rate of activity on August 21. The maximum rate of meteors expected to be visible from a dark location is around 5 per hour (ZHR). The Moon will be 7 days old at the time of peak activity, and so will present significant interference in the early evening sky.
August 22 – Conjunction between the Moon and Saturn. The Moon and Saturn will make a close approach, passing within 2°30′ of each other on August 22. At the moment of closest approach, the Moon will be at mag -11.8, and Saturn at mag 1.0, both in the constellation Libra. The pair will be too widely separated to fit within the field of view of a telescope, but will be visible to the naked eye or through a pair of binoculars.
August 25 – 141P/Machholz at perihelion. Comet 141P/Machholz will make its closest approach to the Sun, at a distance of 0.76 AU.
August 27 – Jupiter at solar conjunction – 22:07 UTC. From our vantage point on the Earth, Jupiter will appear very close to the Sun in the sky as it passes around the far side of the solar system from the Earth. At closest approach, Jupiter and the Sun will appear at a separation of only 0°52′, making Jupiter totally unobservable for several weeks while it is lost in the Sun’s glare. At around the same time, Jupiter will also be at its most distant from the Earth, receding to a distance of 6.40 AU, since the two planets will lie on opposite sides of the solar system. If Jupiter could be observed at this time, it would appear at its smallest and faintest on account of its large distance. It would measure 30.1 arcsec in diameter. Over following weeks and months, Jupiter will re-emerge to the west of the Sun, gradually becoming visible for ever-longer periods in the pre-dawn sky.
August 29 – Full Moon, Supermoon – 18:35 UTC. The Moon will be located on the opposite side of the Earth as the Sun and its face will be will be fully illuminated. This full moon was known by early Native American tribes as the Full Sturgeon Moon because the large sturgeon fish of the Great Lakes and other major lakes were more easily caught at this time of year. This moon has also been known as the Green Corn Moon and the Grain Moon. This is also the first of three supermoons for 2015. The Moon will be at its closest approach to the Earth and may look slightly larger and brighter than usual.
Émigrés from Antichrist Iran and Antichrist Communist Cuba are at the top of Skull&Bones Spawn Jeb Bush’s record-breaking presidential fundraising haul, according to campaign finance disclosures that paint the former Florida governor’s opposition to Antichrist NWO 666 Barack Obozo The 911 Homosexual Climate Change Clown’s twin foreign policy priorities in stark new light..
Antichrist NWO 666 Skull&Bones Spawn Jeb Bush grabs cash from Antichrist Iran (like Antichrist Father selling missiles to Iran while running drugs into Mena Arkansas) and Antichrist Communist Cuba (probably has another Jesuit carved Antichrist Communist crucifix waiting for Pertrus Romanu’s visit) émigrés while opposing Obozo’s Antichrist NWO 666 global crypto fascist policies
Antichrist Planned Parenthood President Cecile Richards, head of the taxpayer-subsidized abortion giant currently facing a firestorm for allegedly selling body parts harvested from aborted babies, has made personal visits to the White House 39 times since Antichrist NWO 666 Crypto Fascist 911 Homosexual Climate Change Clown President Barack Obozo took office in 2009, White House records show.
An Obozo-appointed district judge fined a Mississippi school district over $7500 after a pastor led a prayer before an optional school assembly.
Suddenly that ”500 Days Climate Chaos” ”Day Of Atonement” ”Petrus Romanus September Visit To Mystery Babylon New York City” ”Jupiter Venus Regulus Lineup” ”One World Trade Ground Zero Federal Reserve ICU 911 Call To Pre-emptively Move Their Satellite Office To Chicago Based On Possible…
“The New York branch of the U.S. Federal Reserve, wary that a natural disaster or other eventuality could shut down its market operations as it approaches an interest rate hike, has added staff and bulked up its satellite office in Chicago”
NATURAL OR OTHER DISASTER
…WELL THAT FED MOVE LOOKS MORE THAN PERFECTLY TIMED WITH THE PETRUS ROMANUS POPE VISIT TO CUBA WASHINGTON D.C. AND THE UNITED NATIONS IN NEW YORK CITY/AKA THE PROPHETIC CITY OF BABYLON IS FALLEN …IS FALLEN AND IMF LAGARD ”NUMEROLOGY MYSTERY 7” MEASURED WITH THE FRENCH FOREIGN MINISTER’S ”500 DAYS TO AVOID CLIMATE CHAOS” CALL THAT JUST HAPPENS TO FALL ON ”THE DAY OF ATONEMENT” YOM KIPPUR SEPTEMBER 22-23, 2015 AFTER THIS FALL FEAST OF TRUMPETS ELUL 29 SEPTEMBER 13th BEFORE THE FRIDAY MARKET CLOSE ON 911 LEADING UP TO THE FOLLOWING START OF THE JUBILEE TWO DAYS AFTER THE ANTICHRIST ISRAELI SANHEDRIN CONVICTS THE POPE FOR THE PROPHETIC ”TWO STATE SOLUTION” DIVIDING OF JERUSALEM AFTER THEY CONVICT OBOZO ON SEPTEMBER 9th FOR THE ANTICHRIST IRAN NUCLEAR DEAL.
A slow moving and very bright fireball was observed and recorded over Argentina around midnight UTC on July 31, 2015 (21:00 local time on July 30).
Observers say the spectacle lasted about 10 seconds, turning the whole sky green. No sound was associated with the event.
According to media reports, the bright object could be clearly seen from Argentina’s capital of Buenos Aires, Brazil’s southern state of Rio Grande do Sul, as well as neighboring Uruguay.
Stocks were rolling over hard and then…
The Market Broke – 1532ET *NYSE HAVING BINARY GATEWAY LATENCY ISSUE ON IP 188.8.131.52
And so VIX was slammed…to ensure S&P holds the all-important 2100 level…
Year-to-Date… Dow’s down, Bonds down-er, Crude down-est… as The US Dollar is up 7.5%…
Bonds had their best month since January… (TLT +4.3%) – 2s30s biggest flattening (-23bps) since January
Commodities worst month since Sept 2011… to the lowest since April 2002
WTI Crude’s worst month since Oct 2008 (down 20.5%) – lowest close since March 2015
Copper’s worst month since Jan 2015 (down 10%) – lowest close since June 2009
Gold’s worst month since June 2013 (down 6.5%) – lowest monthly close since Jan 2010
Silver’s worst month since Sept 2014 (down 6%) – lowest monthly close since July 2009
This seemed to sum the talking heads up today…
Finally – despite all the huffing and puffing over how Antichrist Communist China saved the world again with their intervention, Antichrist Communist Chinese stocks suffered their worst week in the last 5, crashing 9-12%…
The Shanghai Composite closed July down 14.4% – the worst month since August 2009.
Bonus Chart: “Smart” Money Flow Continues To Signal Rotation To Weak Hands…
The burden of Damascus. Behold, Damascus is taken away from being a city, and it shall be a ruinous heap.
Once again, Antichrist ISIS is but a distraction here. The goal from the start was to destabilize the Assad government and ultimately to bring about regime change in order to facilitate the geopolitical and economic agenda of the US and its regional allies. Antichrist Islamic State was and is simply a cover story. What’s particularly unnerving is the degree to which the group is now being used by Antichrist Turkey as an excuse to exterminate Ankara’s political rivals. In other words, Antichrist ISIS is no longer just a red herring for the willful usurpation of Assad – it now appears as though NATO members have been given free reign to capitalize politically and economically on the world’s detestation of Antichrist Islamic State..
When Russia’s enemies impose the Cold War logic on international diplomacy and threaten with the Third World War it is important to remember that such conflict would be the last in human history, State Duma Chairman Sergey Naryshkin says.
If NATO threatens Russia’s territories Moscow will respond to the threat accordingly, said Crypto Fascist President Vladimir Putz Putin On The Ritz. This comes after he announced Russia’s strategic forces will be getting over 40 new intercontinental ballistic missiles in 2015.
“If someone threatens our territories, it means that we will have to aim our armed forces accordingly at the territories from where the threat is coming. How else could it be? It is NATO that approaching our borders, it’s not like we are moving anywhere,” Putz Putin said speaking at a joint media conference with Finland’s President Sauli Niinisto in Moscow on Tuesday.
He said at the moment he sees no threat in the alliance’s activities, since the missile defense system wide deployment is a bigger threat.
“I’d refrain from whipping up emotions. Of course, we will analyze everything but so far I see nothing that might prompt us to [take responsive measures],” he said. “What worries us more is the anti-missile defense system that is being deployed – that is a significant thing of strategic importance.”
The comments come after The New York Times ran a piece Saturday, which said the Pentagon could store “battle tanks, infantry fighting vehicles and other heavy weapons for as many as 5,000 American troops in several Baltic and Eastern European countries.”
Day later, Poland and Lithuania revealed on-going talks with Washington to host US military equipment warehouses. This prompted a harsh reaction from Moscow; Russia warned that it has no binding obligations limiting its armed forces in its Western region.
“Russia will have no other choice but to boost its military potential along its western borders,” General Yury Yakubov, a senior Defense Ministry official told Interfax Monday. He added that a military buildup would affect tactical groupings in the Belarus and Kaliningrad region.
On Tuesday morning Putz Putin stated that in 2015 Russia’s strategic forces will be getting over 40 new intercontinental ballistic missiles (ICBMs).
In response to all these statements, NATO Secretary General Jens Stoltenberg accused Russia of “saber-rattling.”
“This nuclear sabre-rattling of Russia is unjustified. It’s destabilizing and it’s dangerous. This is something which we are addressing, and it’s also one of the reasons we are now increasing the readiness and preparedness of our forces,” Stoltenberg said during a news briefing in Brussels on Tuesday.
He added that NATO is making sure it “provides the terms of protection of all allies against the enemy.”
NATO forces are currently holding military exercises in Poland codenamed Noble Jump. Their aim, according to Stoltenberg’s interview to the Polish Press Agency, is to show that the Alliance can quickly deploy its forces to any of the member countries.
So was the world’s 4th largest hedge fund using an alleged frontrunning criminal as its head trader for 3 years? We won’t know until the SEC investigation is complete. That said, rereading Cliff Asness’s Op-Ed “Why I Love High-Speed Trading“, with all of this latest information certainly leads us to believe that he may not have listed all the reasons why he loves HFT.
What we do know, is that AQR Capital will want to update Item 11 “Disclosure Information” of its Form ADV in the coming days.
Shortly after we reported the latest market-rigging scandal, in which ITG was busted for frontrunning sellside clients in its dark pool in what has been since dubbed a “trading experiment” (because it sounds better than criminal conspiracy to defraud clients), and which will cost the company a record for a private Wall Street firm $22 million settlement, we had one question for AQR’s Cliff Asness yesterday morning:
Hi @Cimmerian999, is Hitesh Mittal the AQR employee who was formerly at ITG and is part of the SEC settlement?
9:52 AM – 30 Jul 2015
Here is a quick bio of Hitesh from FX Week:
Hitesh is the head of AQR’s Global Trading Strategies group, running the firm’s trading desk and overseeing the group that builds automated trading models and does transaction cost analysis for equities, futures and FX globally. Prior to AQR, he was the global head of liquidity management at Investment Technology Group, where he built its algorithmic trading platform and managed its crossing network, POSIT. He has published several papers on market structure, algorithmic trading, dark pools and transaction cost analysis, and is listed as a co-inventor on three patents. Hitesh earned a B.Eng. in computer science and engineering from JNV University in Jodhpur, India, and an M.B.A. from New York University.
We got no answer from the AQR head, who we assumes failed to noticed our inquiry, despite his notorious chattiness on Twitter where he regularly enjoys berating and mocking HFT critics.
Luckily, Bloomberg noticed, and as it turns out the answer to our question was a resounding yes.
As a reminder, the SEC accused ITG of two gross violations:
The investigation is focused on customer disclosures, Form ATS regulatory filings and customer information controls relating to the pilot’s trading activity, which included (a) crossing against sell-side clients in POSIT and (b) violations of ITG policy and procedures by a former employee. These violations principally involved information breaches for a period of several months in 2010 regarding sell-side parent orders flowing into ITG’s algorithms and executions by all customers in non-POSIT markets that were not otherwise available to ITG clients.
As ITG CEO Bob Gasser noted, “The problematic behavior was led by a senior employee who operated in a manner that violated ITG policy, Gasser said Thursday, without identifying the former worker.”
In short, the “former employee” was frontrunning external orders in ITG’s own prop-trading dark pool/HFT pod.
Previously, ITG Chief Executive Officer Bob Gasser made several references Thursday to a former employee he didn’t identify who was purportedly involved in the case. While apologizing during the conference call with analysts, the CEO highlighted the actions of the former employee, who Gasser said was “ultimately severed from the company.”
That former employee is precisely the Hitesh Mittal we inquired about: it turns out he quietly quit ITG by July in what Traders Magazine article reported then was a “cost-cutting measure.” It now appears that he had merely been busted for engaging in what the SEC now confirms was illegal activity (and if ITG was hiding his criminal behavior it would explain why Kevin O’Hara, a former SEC enforcer, demonstratively quit the ITG board the same day).
But it’s not what he did there that is notable. It’s where he went after – the place: the world’s 4th biggest hedge fund, AQR Capital with $136 billion in AUM, run by the outspoken Cliff Asness, who just happens to be one of the biggest supporters of HFT there is.
Hitesh Mittal, the head of trading at AQR Capital Management, is voluntarily taking a leave of absence amid a regulatory investigation of his former employer, Investment Technology Group Inc…. Although ITG didn’t identify anyone involved by name, Mittal is a key figure in that inquiry, according to two people familiar with the matter, who asked not to be named because the investigation is private.
AQR was quick to distance itself from Mittal’s allegedly criminal client frontrunning while at ITG:
“This investigation relates to alleged misconduct that occurred in 2010 and 2011 while Mr. Mittal was employed at his former employer, ITG,” according to a statement from Edelman’s Mike Geller, a spokesman for AQR, which oversees about $136 billion of assets. “Mr. Mittal subsequently joined AQR in 2012 and we had no knowledge of the issues in question. Mr. Mittal is taking a temporary paid leave from AQR while the firm diligently reviews the issues.”
Great job on the background check there guys. And while AQR will surely deny, deny, deny it knew anything about Mittal’s prior trading record, and will certainly deny he was hired to implement a comparable strategy at AQR, he will no longer be in charge of trading over $100 billion in assets, most likely permanently:
During Mittal’s leave, AQR principal Brian Hurst “will assume the management of the firm’s trading operations,” Geller said. “AQR has an exceptional trading team with a deep bench of talent.” Mittal didn’t respond to requests for comment.
And lest anyone gets the impression we are talking some tiny boiler room whose “principals” spend their time on CNBC every day instead of actually managing money, as a reminder, this is where AQR falls among the world’s largest hedge funds according to the latest Institutional Investor AUM ranking: at #4!
In “signs of the coming financial apocalypse” news, ETF trading has now eclipsed US GDP.
You read that correctly. Here’s Bloomberg:
In the past 12 months investors traded $18.2 trillion worth of ETF shares, according to data from the New York Stock Exchange and Bloomberg. That’s a 17 percent increase from the 12 months prior and more than triple what it was 10 years ago. For perspective, that means the amount of dollars exchanging hands through ETFs is now more than the U.S. gross domestic product, which stands at $17.4 trillion.
To the Zero Hedge faithful, it should be immediately clear why this is so frightening, but for anyone who may be new to the “why BlackRock is a dangerous company” (to quote Carl Icahn) debate, allow us to explain, and because we’ve covered this extensively, we’ll stick to the high points.
First, the post-crisis proliferation of ETFs has funneled massive amounts of retail money into corners of the market where mom and pop previously never dared to tread. This trend has been exacerbated by ultra accommodative central bank policy, which has had the effect of herding investors into riskier assets in a desperate search for yield.
This comes as banks have pulled back from their traditional role as middlemen in the secondary market, meaning that while instruments like HY bond ETFs give the impression of daily liquidity, they cannot, by definition, be more liquid than the underlying assets they reference, and if dealers are unwilling to expand their inventories in a sell-off, fund managers facing sizeable redemptions could find that transacting in size is virtually impossible without having a significant negative impact on prices.
So far, the diversifiable nature of fund flows (i.e. when one fund faces redemptions, other funds are seeing inflows) has allowed fund managers to use portfolio products in place of sellside dealer books. But that won’t work when flows become unidirectional (i.e. when everyone is selling) and if the underlying cash market is inordinately thin when fund managers finally need to sell assets, a fire sale could ensue due to a dearth of willing buyers.
In essence, the ETF market is a mirage – a shiny veneer that masks a very ugly underlying situation.
If you need proof of how dangerous things have become, you needn’t look further than the fact that some of the world’s largest asset managers – Vanguard among them – have lined up emergency liquidity lines that can be tapped in the event a rate hike, a wave of bankruptcies in HY, or some exogenous shock sends ETF holders to the exits all at once (for the complete guide to ETF phantom liquidity, see here).
Think about that for a minute – what does it say about the market when fund managers plan to borrow money from banks to meet redemptions rather than risk selling the underlying assets?
Of course the greatest tragedy here is that the continued use of ETFs and other portfolio products to satisfy diversifiable flows and the prospect of cashing investors out with borrowed money rather than the proceeds from asset sales in the event flows suddenly become decisively non-diversifiable only serves to exacerbate the situation – that is, the more you avoid the underlying market, the more illiquid it becomes.
Here’s Bloomberg with some numbers which help to illustrate the narrative outlined above:
But perhaps even more astonishing than the raw amount of trading is that U.S. ETFs only have $2.1 trillion in assets. In other words, the turnover in ETFs is about 870 percent a year. This is more than four times the turnover for U.S. stocks, which comes in at about 200 percent.
The increase in volume over the years can be attributed to both repeat customers as well as new participants who like anonymously darting in and out of everything from small-cap stocks to high-yield bonds to oil futures in an instrument that trades like a stock. Like a snowball rolling downhill, as an ETF sees volume increase it tends to attracts more, and bigger, investors, which in turn increase the volume.
All this manic trading is led by the insanely active SPDR S&P 500 ETF (SPY), which makes up a third of the total, or $6 trillion. That breaks down to about $24 billion a day, which is four times more than any other security on the planet and more than the next nine most traded equities combined. With $177 billion in assets, SPY’s yearly turnover equates to a mind-boggling 3,400 percent.
Beyond SPY, ETFs account for three of the top four most active equities, with the iShares Russell 2000 ETF (IWM) and the Powershares QQQ Trust (QQQ) trading over $3 billion a day each. Beyond equities, another big-time contributor to the trading volume is the iShares 20+ Year Treasury Bond ETF (TLT), which trades $1.1 billion a day, or more than what Citigroup stock trades. TLT’s massive volume shows just how thirstyinvestors are to trade bonds like stocks. (Individual bonds traditionally trade over the counter, and investors’ use of ETFs to dip in and out of less liquid fixed-income assets has prompted quite a bit of controversy in recent years.)
The takeaway here, in the simplest possible terms, is this: underlying asset markets are disappearing while the vehicles that reference them are rapidly proliferating.
Obviously, this is an untenable situation and the worst part of the entire charade is that it’s being perpetuated under the guise of safety, liquidity, and transparency by the companies investors trust most.
GFI’s John Spallanzani came on CNBC today and decided to make the case that there is a bubble. But not a bubble in stocks which are trading 1% off their all time highs, at a 20x real P/E multiple, and 1400 days without a 10% correction, mind you, but a bubble in pessimism.
Here is his “argument”, deconstructed in its several key components.
“If there’s a bubble in bonds, there has to be a bubble in pessimism.”
Apparently, Mr. Spallanzani does not quite grasp that the only reason bond prices are as high as they are (to him, that means a bubble), is because the central banks are now buying more than 100% of all net issuance.
It also appears that the very logical conclusion that if there is a bubble in bonds, then there is clearly a bubble in stocks, because once the bond bubble bursts and interest rates soar, what happens to earnings? Or perhaps GFI employees just haven’t covered yet the arcane linkage between the balance sheet and the income statement.
Ironically, in the very next sentence the CNBC guest says that “there is a shortage of quality assets in the world” (which actually is spot on as we showed in May of 2013), but apparently another class not discussed at GFI is that “quality assets” are bonds, not 100x (or Div/0) biotech stocks.
Then there is a lot of even more confused words, followed by this pearl: “the only way the Fed is going to hike is basically the S&P going toward 2200. If we stay at 2100 or below, the Fed doesn’t go in September.”
Then comes even more confusion: “the only game in town right now are equities to drive the balance sheet of the individual investor and also the consumer.”
Unwilling to risk a subdural hematoma from trying to decipher what, if anything, that sentence even means, we trudge on:
“If you take energy out right… energy really cratered… the earnings are not that bad”, and when someone interjects that revenues are bad, John’s response is: “obviously we can debate that.”
Actually, no we can’t:
… and as Factset notes, “Revenue Growth Not Expected to Return Until 2016”
But ignore reality because John plows on: “the trajectory of earnings is up, we’re not going into a recession, therefore all the liquidity that’s sitting on a sideline has to go somewhere and that place that it’s eventually going to is equities, that’s what happens.”
Uh, what… again? Some circular argument which is made whole not because of some cause-effect link but because “that’s what happens”?
At this point we are getting concerned that Mr. Spallanzani has absolutely no idea what he is talking about.
For better or worse, his CNBC hosts did too, and the camel’s back finally broke when asked if he has any clue about ETF flows (he does because “I trade ETFs all day”) he, surprisingly accurately, notes that “flows are going into IWM, into biotechs and going into QQQs”, which incidentally are only the story stocks, those trading in triple digit or higher PE, Spallanzani totally cracked, and having no response at all, came out with the following absolute stunner:
“There’s a bubble in pessimism worldwide, come on you read Zero Hedge.”
And cue laughter.
So there you have it: when you are fresh out of any legitimate arguments, what do you do? You name drop Zero Hedge and use its readership as a benchmark of rationality or, as the case may in this particular very, very confused case, hope it’s sufficient to “prove” that there is a bubble in pessimism… or something. It wasn’t exactly clear by this point in the interview what John’s point was, or if he even had one.
And while we probably should be grateful for that assessment, because for whatever reason Zero Hedge traffic was indeed an all time high in July, the fact that it originates from someone as confused, albeit a religious reader of this website, as Spallanzani we’ll just avoid commenting altogether.
Exactly three months ago, the Swiss National Bank issued a report which everyone was eagerly anticipating: its interim results for the quarter ended March 31 in which it laid out just how much it had loss after it took on an “artificially strong” Swiss Franc market back in September 2011… and admitted defeat when on January 15 in a shocking statement, it announced it would remove the EURCHF 1.20 peg despite reiterating just days earlier the peg was rock solid. The result: a record loss of CHF 29.3 billion ($32 billion).
Earlier today, the SNB which is perhaps the most transparent hedge fund of all central banks and actually lays out its financial statements in a respectable manner every quarter, released its results for the second quarter (and first half) of 2015. The result: another absolutely epic loss, amounting to €50.1 billion ($51.8 billion) of which €47.2 billion on currency positions – a whopping 7% of Swiss GDP – meaning that in Q2 the SNB lost another €20 billion even though the CHF crosses barely registered any of the mammoth moves experienced in the first quarter, suggesting that the SNB was hit by the double whammy of its own currency devaluation in Q1, followed by the launch of ECB’s QE which crushed the EUR in Q2, and which happens to be the currency in which the bulk of SNB FX holdings are denominated.
Amusingly, the FX loss was despite a CHF530 gain resulting from negative deposit rates charged on sight deposit account balances since January 22, 2015 when Switzerland went full-NIRP.
This is how tthe SNB described its loss:
The Swiss National Bank (SNB) is reporting a loss of CHF 50.1 billion for the first half of 2015.
The loss on foreign currency positions amounted to CHF 47.2 billion. A valuation loss of CHF 3.2 billion was recorded on gold holdings.
The SNB’s financial result depends largely on developments in the gold, foreign exchange and capital markets. Strong fluctuations are therefore to be expected, and only provisional conclusions are possible as regards the annual result.
Loss on foreign currency positions
The negative result on foreign currency positions amounted to CHF 47.2 billion in total.
On 15 January 2015, the SNB decided to discontinue the minimum exchange rate of CHF 1.20 per euro with immediate effect. The subsequent appreciation of the Swiss franc led to exchange rate-related losses on all investment currencies. For the first half of 2015, these amounted to a total of CHF 52.2 billion.
Interest income provided a positive contribution, at CHF 3.5 billion, as did dividend income, at CHF 1.2 billion. Movements in bond prices differed from those in share prices. A loss of CHF 3.9 billion was recorded on interest-bearing paper and instruments. By contrast, equity securities and instruments benefited from the favourable stock market environment and contributed CHF 4.1 billion to the net result.
As the WSJ notes, the SNB, like most other central banks, is mandated to secure price stability and isn’t obliged to make a book profit. After all, it can just print its way out of any undercapitalized position even though the SNB, which is publicly traded and which issues 13-Fs every quarter, has private shareholders. And as CA’s Valentin Marinov reminds us, “SNB profit goes to its shareholders – the Swiss Cantons – the impact of the loss is comparable to a sizeable fiscal austerity.”
Expect tortured screams from the 26 Swiss cantons once the realize that none of the billions in proceeds they are used to obtaining from the SNB will be forthcoming this year as a result of the massive loss which will not be made whole unless both the CHF crashes and the EUR soars, offsetting all the year to date losses. The WSJ adds:
The central bank’s loss could jeopardize the customary payments it makes to Switzerland’s federal and regional governments. The payments are politically sensitive in Switzerland, where many of the country’s smaller cantons rely on them to help balance their budgets.
The SNB came in for criticism when it canceled the payments in 2013 for the first time in its history after posting an annual loss on falling gold prices.
Stopping the payments might add to pressure on the SNB, which has been criticized for imposing negative interest rates on deposits it holds as part of effort to blunt the strength of the franc. Critics say the minus 0.75% rate—an effective charge—penalizes savers, especially because it has been levied on government-run vocational pension funds and other private funds.
An SNB spokesman said it was too early to make assumptions about the central bank’s full-year result, but that if returns don’t improve then the payments and dividends could be suspended again.
It would be ironic if what many consider to be Europe’s soundest and best positioned economy, undergoes a bout of “austerity” that puts to shame the spending cuts that Greece is looking at.
We are confident the Swiss can handle it, and if not – maybe they should just petition the SNB to stop charging them 75 bps for funding Swiss banks with their deposits.
And yet, like last quarter, what once again caught our attention was not the SNB Income Statement but its Balance Sheet. Here, we find that while the total assets of the SNB have risen to CHF577 billion as of March 31 from CHF 561 billion at the start of the year, of which the bulk was due to “foreign currency investments”, which amounted to CHF530 billion.
That’s impressive, but that’s not the punchline.
What is, just like back in April, was the following table, according to which 17%, or CHF91 ($94 billion) of the foreign currency investments and CHF bond investments assets held on the SNB’s balance sheet are foreign stocks…
… Such as AAPL, of which as we revealed back in May, the SNB owns a whopping $1.1 billion in stock. … and numerous other US stocks:
In other words, the SNB holds 15% of Switzerland’s GDP in equities!
We’ll give the SNB credit: while every other central bank is loaded to its gills in stocks, few dare admit it. At least the SNB files a quarterly 13-F.
So here hoping that other money printing hedge funds central banks follow suit: hedge funds such as the NY Fed, which having participated directly and indirectly (via Citadel) in the market for the past decade if not longer, are holding hundreds of billions, if not more, in equity exposure either on its balance sheet or in off-balance sheet vehicles (via Citadel).
After all, both the Fed, the SNB and all their peers are desperate to “reflate” the world in the only way they can – through stock market levitation. So if anything, admitting to the world not only that they buy stocks outright, but show which stocks they buy, would result in massive future lagged frontrunning of such central bank 13-F purchases, and everyone jumping into the stock market. After all, piggybacking on a central bank is as close to a riskless trade as exists, at least until they all lose control.
We can hope, but it is that kind of “transparency” that the NY Fed will never agree to because, gasp, someone may just admit that while central banks like the SNB, the BOJ and, of course, the Chinese in the past month, have been openly buying stocks, the “value” of the S&P500 is nothing more than a function of how many times the NY Fed’s trading desk at 33 Liberty Street pushes the “buy” button on any given day.
The Antichrist Communist Chinese have clearly shown investors that using Yoga-like mind games (or indeed loose money) to elevate the stock-market will end in tears.
This is undoubtedly a global story and I have not one scintilla of doubt that the western central banks have set us up for an even bigger version of the 2008 Great Financial Crisis/Recession – but this time rock bottom interest rates and large fiscal deficits will mean only one thing; QE will be stepped up to such a pace that you will hear the roar of the printing presses from Mars.
FOMC inflation fears… Weak GDP…
Piss-poor wage growth… buy it all
If last week’s shocking crash in the Employment Cost Index (ECI) to the smallest increase on record, was enough for some to seal the deal that the Fed will not hike rates for the balance of 2015 (and perhaps ever), here comes the Fed’s unofficial mouthpiece, WSJ’s Jon “Stingy Consumers” Hilsenrath, to debunk any such speculation with a note which likely came straight from the Fed titled the “Fed Doesn’t Demand Wage Growth Before Increasing Interest Rate.“
Here is how the Fed is willing to goalseek its constantly shifting “data dependency” just so it can hike rates at least 1-2 times in a rerun of “ghost of 1937” before it can then unleash a repeat of the “1939” scenario or worse.
Federal Reserve officials have fuzzy views on how wage growth fits in with their objectives for the economy. They would like to see wages growing faster. It would give them confidence that the economy is closer to their dual goals of producing healthy job growth and modestly rising inflation. But the linkages between wages, jobs and inflation are unclear, and so they’re not banking on faster wage growth materializing.
It gets better: the Fed which has been “convential data dependent”, is now suggesting the conventional data has been all wrong.
In classical models of the economy, as the unemployment rate falls, slack in the job market diminishes, producing upward pressure on wages. Because wages are such a large component of business costs, wage pressures in turn get passed on to consumers in the form of higher consumer prices. But a growing body of research suggests the economy hasn’t been working like this for decades. Other factors — including global pressures, in addition to household and business views about the stability of inflation — have large effects that potentially outweigh any impact from domestic wages on prices.
Enter the goalseeked “explanation” why suddenly wage growth does not matter:
A recent paper by Fed board economists Ekaterina Peneva and Jeremy Rudd finds little evidence that the ups and downs of wages had large effects on broader consumer price trends either before or after the 2007-2009 recession. “Wage developments are unlikely to be an important independent driver of (or an especially good guide to) future price developments,” they conclude.
So what would the Fed want you to know as a result of all these conflicting data points? Here is the mouthpiece again:
Ms. Yellen said explicitly in that March speech that she is prepared to start moving interest rates up even before she sees sure signs that wages are rising faster. “That said,” she added, “I would be uncomfortable raising the federal funds rate if readings on wage growth, core consumer prices, and other indicators of underlying inflation pressures were to weaken.”
Given her stance, Friday’s employment cost report doesn’t look like a deal breaker for the Fed in its long-running debate about when to raise short-term interest rates. Wages appear to be stagnant but not clearly weakening, which is what she set out as her threshold for not acting. Still, it creates new doubts for officials and doesn’t help them build the confidence they’re hoping to build that the job market is nearing full employment and inflation rising toward 2%.
The September policy meeting is thus shaping up to be a cliffhanger for the Fed and markets. Officials could decide they want to take a bit more time to makes sense of all of this. Still, other evidence could emerge before then that convinces them to look past the report and act on rates. This coming Friday’s jobs report, and its measures of average hourly earnings of workers, now becomes all the more important for the Fed in its continued search for evidence that the economy is truly on the mend.
So another “most important jobs report ever” coming up. Great.
One thing that Hilsenrath did not touch upon however, is that there are only 3 months left before it snows. And everyone know by now the Fed never hikes when it snows. Inquiring minds want to know how the climatic conditions factor into the Fed’s thinking. We are confident Jon can relay the Fed’s position on US weather forecasts shortly.
While engaging in the mundane task of gathering financial statements for a “secure retirement” meeting with my husband’s and my adviser, this Baby Boomer stumbled upon documented proof that our nation does not have the guts to confront one of its most serious economic problems. The realization came when I pulled from my files a document statement innocently titled, “Your Social Security Statement.”
At first glance, the statement did not appear menacing. I was told I could expect to receive a benefit of “about $2,136 a month” upon reaching age 70 — which certainly seems like good news. But immediately I thought of a parallel of Antichrist NWO 666 President Obozo The 911 Homosexual Climate Change Clown’s infamous Obozocare promise: “If you like your Social Security, you can keep your Social Security.” Then, as if on cue, I saw an asterisk with the following message: The law governing benefit amounts may change because, by 2033, the payroll taxes collected will be enough to pay only about 77 percent of scheduled
I could not believe I was seeing the equivalent of what I was just thinking, but with a new twist, “If I like my Social Security, I can keep 77 percent of it.” With an asterisk, my beloved government was informing me that they will be unable to fulfill their part of a financial arrangement into which, as their statement attested, I had been making mandatory (AT THE POINT OF AN ARMED CRIMINAL IRS AGENT HOLDING A DEADLY WEAPON) contributions starting in 1971 at age 16.
This impending “benefit rationing,” reducing my future financial “security” by $492 a month, may, in fact, not be the worst of it. Sitting in the back of my Social Security file was an earlier statement dated March 10, 2009. Again, followed by an asterisk was a sentence that read exactly like my 2015 statement except for two major differences (emphasis added): The law governing benefit amounts may change because, by 2041, the payroll taxes collected will be enough to pay only about 78 percent of your scheduled benefits.
Clearly, in 2009, the government’s prediction — that Social Security would have to be cut to 78 percent of benefits come 2041 — was overly optimistic. Now, in 2015, they are projecting 2033, eight years earlier, with one percentage point less of my projected benefits. The projections have steadily worsened over the past few years, helped by a much weaker economy than the federal government expected. Does anyone really expect these numbers to get better? The skepticism I felt when I saw my initial monthly benefit was entirely justified. There are just too many Baby Boomers and too many financial promises with elected leaders too afraid to inflict the necessary pain of real reform.
The so-called “trustees” of the social security system issued their annual report last week and the stenographers of the financial press dutifully reported that the day of reckoning when the trust funds run dry has been put off another year—-until 2034.
So take a breath and kick the can. That’s five Presidential elections away!
Except that is not what the report really says. On a cash basis, the OASDI (retirement and disability) funds spent $859 billion during 2014 but took in only $786 billion in taxes, thereby generating $73 billion in red ink. And by the trustees’ own reckoning, the OASDI funds will spew a cumulative cash deficit of $1.6 trillion during the 12-years covering 2015-2026.
So measured by the only thing that matters—-hard cash income and outgo—-the social security system has already gone bust. What’s more, even under the White House’s rosy scenario budget forecasts, general fund outlays will exceed general revenues ex-payroll taxes by $8 trillion over the next twelve years.
Needless to say, this means there will be no general fund surplus to pay the OASDI shortfall. Uncle Sam will finance the entire $1.6 trillion cash deficit by adding to the public debt. That is, Washington plans to make social security ends meet by burying unborn taxpayers even deeper in national debt in order to fund unaffordable entitlements for the current generation of retirees.
The question thus recurs. How did the untrustworthies led by Treasury Secretary Jacob Lew, who signed the 2015 report, manage to turn today’s river of red ink into another 20 years of respite for our cowardly beltway politicians?
They did it, in a word, by redeeming phony assets; booking phony interest income on those non-existent assets; and projecting implausible GDP growth and phantom payroll tax revenues.
And that’s only the half of it!
The fact is, the whole rigmarole of trust fund accounting enables these phony assumptions to compound one another, thereby obfuscating the fast approaching bankruptcy of the system. And, as will be demonstrated below, that’s what’s really happening—–even if you give credit to the $2.79 trillion of so-called “assets” which were in the OASDI funds at the end of 2014.
Stated differently, the OASDI trust funds could be empty as soon as 2026, thereby triggering a devastating 33% across the board cut in benefits to affluent duffers living on Florida golf courses and destitute widows alike. Needless to say, the army of beneficiaries projected for the middle of the next decade—what will amount to the 8th largest nation on the planet—- would not take that lying down.
There would be blood in the streets in Washington and eventually staggering tax increases to fund the shortfall. Such desperate measures, of course, would sink once and for all whatever faint impulse of economic growth and job creation that remained alive in the US economy at the time.
In short, this year’s untrustworthies report amounts to an accounting and forecasting house of cards that is camouflaging an impending social, political and economic crisis of a magnitude not seen since the Great Depression or even the Civil War. So here follows an unpacking of the phony accounting edifice that obscures the imminent danger.
The place to start is with the one data series in the report that is rock solid. Namely, the projected cost of $15.5 trillion over the next 12 years to pay for retirement and disability benefits and the related (minor) administrative costs.
This staggering figure is derived from the fact that the number of beneficiaries will grow from 59 million to 79 million over the next twelve years, and that each and every one of these citizens has a payroll record that entitles them to an exact monthly benefit as a matter of law. Even the assumed COLA adjustment between 2-3% each year is pretty hard to argue with—-since it is nearly dead-on the actual CPI increase average since the year 2000.
By contrast, the funny money aspect comes in on the funding side. The latter starts with the $2.79 trillion of “assets” sitting in the OASDI trust funds at the end of 2014.
In truth, there is nothing there except government accounting confetti. This figure allegedly represents the accumulated excess of trust fund income over outgo historically, but every dime of that was spent long ago on aircraft carriers, cotton subsidies, green energy boondoggles, prison facilities for pot smokers, education grants, NSA’s cellphone monitors, space launches and the rest of Washington’s general government spending machine.
So when the untrustworthies claim that that social security is “solvent” until 2034 the only thing they are really saying is that this $2.79 trillion accounting artifact has not yet been liquidated according to the rules of trust fund arithmetic. And under those “rules” its pretty hard to actually accomplish that—-not the least due to the compounding of phantom interest on these phantom assets.
To wit, the 2015 report says that the OASDI funds will earn $1.2 trillion of interest income during the next twelve years. To be sure, the nation’s retirees and savers might well ask how Washington’s bookkeepers could manage to get the assumed 3.5% interest rate on the government’s assets compared to the 0.3% ordinary citizens earn on a bank account or even 2.2% on a 10-year treasury bond.
But that’s not the real scam. The skunk in the woodpile is actually an utterly arbitrary and unjustifiable assumption about the rate of nominal GDP growth and therefore the associated gain in projected payroll tax revenues coming into the trust fund.
What the untrustworthies have done here is indulge in the perfidious game of goal-seeked forecasting. That is, they have backed into a GDP growth rate sufficient to keep payroll tax revenues close to the level of benefit payouts, thereby minimizing the annual cash deficit.
This, in turn, ensures that the trust fund asset balance stays close to its current $2.7 trillion level in the years just ahead, and, mirabile dictu, permits it to earn upwards of $100 billion of “interest” each year. Too be sure, beneficiaries could not actually pay for their groceries and rent with this sort of trust fund “income”, but it does keep the asset balance high and the solvency can bouncing down the road a few more years.
But here’s the thing. Plug in a realistic figure for GDP growth and payroll tax revenue increases and the whole trust fund accounting scheme collapses; the bouncing can runs smack dab into a wall of trust fund insolvency.
To wit, the untrustworthies who wrote the report assumed that nominal GDP would grow at a 5.1% annual rate for the next 12 years. Yet the actual growth rate has never come close to that during the entire 21st century to date. At best these people are dreaming, but the truth is they are either lying or stupid.
Given the self-evident headwinds everywhere in the world, and year after year of failed “escape velocity” at home, no one paying a modicum of attention would expect US GDP to suddenly get up on its hind legs and race forward as far as the eye can see. Yet that’s exactly what the social security untrustworthies have done by assuming nominal GDP growth 35% higher than the actual 3.8% compound growth rate since the year 2000.
But its actually worse. Since reaching peak debt just prior to the financial crisis, the US rate of GDP growth has decelerated even more. And going forward, there is no meaningful prospect of recovery in the face of the growing deflationary tide in the global economy and the unavoidable necessity for the Fed and other central banks to normalize interest rates in the decade ahead. Failing that they will literally blow-up the world’s monetary system in a devastating currency race to the bottom.
Thus, during Q1 2008, which marked the end of the domestic credit binge, nominal GDP posted at $14.67 trillion, and during the most recent quarter it came in at $17.69 trillion. That amounts to an seven-year gain of just $3 trillion and an annual growth rate of 2.7%.
Now surely there will be another recession before 2026. If not, we will end up with 200 straight quarters of business cycle expansion—-a preposterous prospect never remotely experienced previously. Indeed, in our modern central bank driven world, where both recessions this century have resulted from the bursting of financial bubbles, the proposition is even starker. Namely, no bursting bubbles or market crashes for 18 years!
No, the historical business cycle expansions depicted below make clear that there will be another business cycle downturn. After all, contrary to the untrustworthies assumption that the current business cycle will last forever, and, in the analysis at hand for 200 months through the end of 2026, the average expansion has lasted just 39 months and the longest ever was only 119 months.
During the last business cycle contraction, in fact, nominal GDP declined by 3.4% between Q3 2008 and Q2 2009. And when you average that in with the 3.3% nominal GDP growth rate which we have had during the so-called recovery of the last four years, you not only get the aforementioned 2.7% trend rate of nominal GDP growth, but you are also hard-pressed to say how it can be bested in the years ahead.
Indeed, there is a now an unprecedented deflationary tide rolling through the world economy owing to the last 15 years of rampant money printing and financial repression by the central banks. By collectively monetizing upwards of $20 trillion of public debt and other existing securities and driving interest rates toward the zero bound in nominal terms and deep into negative territory in real terms, they have generated two massive, deflationary distortions that have now sunk deep roots in the world economy.
First, credit market debt outstanding has soared from $85 trillion to $200 trillion. This means future economic growth practically everywhere on the planet will be freighted-down by unprecedented, debilitating debt service costs.
At the same time, massive overinvestment in mining, energy, shipping and manufacturing spurred by central bank enabled cheap capital has generated a huge overhang of excess capacity. This is already fueling a downward spiral of commodity and industrial prices and profit margins, and there is no end in sight.
Iron ore prices which peaked at $200 per ton a few years back, for example, are now under $50 and heading for $30. Likewise, met coal prices which peaked at $400 per ton are heading under $100, while crude oil is heading for a retest of the $35 level hit during the financial crisis, and copper is on track to plunge from its recent peak of $4/pound toward $1.
These deflationary currents will suppress nominal income growth for a decade or longer owing to a now commencing counter-trend of low capital investment, shrinking industrial profits, tepid wage growth and falling prices for tradable goods and services. Accordingly, even maintaining the average nominal GDP growth rate of 2.7% realized over the last seven years will be a tall order for the US economy.
Needless to say, the law of compound arithmetic can be a brutal thing if you start with a delusional hockey stick and seek to bend it back to earth. In this case, the trustee report’s 5.1% GDP growth rate assumption results in $31 trillion of GDP by 2026. Stated differently, compared to only $3 trillion of nominal GDP growth in the last 7 years we are purportedly going to get $14 trillion in the next 12 years.
But let’s see. If we stay on the current 2.7% growth track, then GDP will come in at $24 trillion in 2026. Since OASDI payroll taxes amount to about 4.5% of GDP, it doesn’t take a lot of figuring to see that trust fund income would be dramatically lower in a $7 trillion smaller economy.
To be exact, the untrustworthies have goal-seeked their report to generate $1.425 trillion of payroll tax revenue 12-years from now. Yet based on a simple continuation of the deeply embedded GDP growth trend of the last seven years, payroll revenue would come in at only $1.1 trillion in 2026 or $325 billion lower in that year alone.
And here’s where the self-feeding illusion of trust fund accounting rears its ugly head. What counts is not simply the end-year delta, but the entire area of difference under the curve. That’s because every cumulative dollar of payroll tax shortfall not only reduces the reserve asset balance, but also the phantom interest income earned on it.
So what happens under a scenario of lower payroll tax revenues is that the $2.7 trillion of current trust fund “assets” begins circling the accounting drain with increasing velocity as time passes. In effect, the permission granted to Washington to kick the can by this year’s untrustworthies report gets revoked, and right fast.
To wit, instead of a cumulative total of $13.2 trillion of payroll tax revenue over the next 12 years, the actual, demonstrated GDP growth path of the present era would generate only $11.2 trillion during that period. That $2 trillion revenue difference not only ionizes most of the so-called trust fund assets, but also reduces the ending balance so rapidly that by the final year interest income computes to only $25 billion, not $100 billion as under the current report.
In short, by 2026 trust fund revenue would be $400 billion per year lower owing to lower taxes and less phantom interest. Accordingly, the current modest projected trust fund deficit of $150 billion would explode to upwards of $600 billion after the last of the phony interest income was booked.
Needless to say, that massive shortfall would amount to nearly 33% of the projected OASDI outgo of $1.8 trillion for 2026. More importantly, instead of a healthy cushion of $2.4 trillion of assets (or two year’s outgo) as the untrustworthies projected last week, the fund balance would be down to just $80 billion at year-end 2026.
Now that’s about 15 days of the next year’s OASDI outlays. The system would go tilt. Benefits would be automatically cut back to the level of tax revenue or by 33%. The greatest social crisis of the century would be storming out of every hill and dale in the land.
Yes, Jacob Lew is a Washington-Wall Street apparatchik who wouldn’t grasp the self-destructing flaws of trust fund accounting if they smacked him in the forehead. And the same is apparently true for the other trustees.
But here’s where the venality comes in. In order to goal-seek to 5% nominal GDP growth, the trustees report assumes that real GDP will average 3.1% per year through the year 2020.
Now, c’mon folks. Since the pre-crisis peak in late 2007, real GDP growth has averaged only 1.2% annually, and only 1.8% per year during the entire 15-years of this century.
Anybody who signed up for 3.1% real growth through 2020——that is, for scorching growth during month 67 through month 140 of a tepid business cycle expansion which is already long-in-the-tooth by historical standards—-is flat-out irresponsible and dishonest.
Calling their mendacious handiwork the “untrustworthies report” is actually more flattering than they deserve.
Of course it helps to have a cover for a brutal crackdown on one’s political foes, especially when the result will likely amount to the nullification of a democratic election outcome, which is why the Antichrist ISIS-inspired suicide bombing in Suruc on July 20 looks rather convenient, as it prompted an angry and, more importantly, a predictable response from the PKK which allowed Erdogan to go straight to the US and then to NATO with a claim that in addition to launching airstrikes against Antichrist ISIS, Turkey would need to hit the PKK as well. After all, they’re both officially labeled as “terrorist” organizations.
Now, Turkey’s crackdown on political dissidents is officially sanctioned by NATO and Washington.
Against that backdrop we bring you some fantastically metaphysical excerpts from a new piece by Stratfor. The following analysis of Turkey’s role in shaping the future of geopolitics is by Stratfor’s Vice President of Global Analysis Reva Bhalla who suggests that if one simply looks “through the lens of quantum theory”, Turkey may be heading down an “unlikely path” to establishing a modern day Antichrist Crypto Fascist Masonic Occult Created Ottoman Empire.
* * *
Turkey’s unlikely path
Albert Einstein described space-time as a smooth fabric distorted by objects in the universe. For him, the separation between past, present and future was merely a “stubbornly persistent illusion.” Building on Einstein’s ideas, celebrated U.S. physicist and Nobel Laureate Richard Feynman, some of whose best ideas came from drawings he scribbled on cocktail napkins in bars and strip clubs, focused on how a particle can travel in waves from point A to point B along a number of potential paths, each with a certain probability amplitude. In other words, a particle will not travel in linear fashion; it will go up, down and around in space, skirting other particle paths and colliding into others, sometimes reinforcing or canceling out another completely. According to Feynman’s theory, the sum of all the amplitudes of the different paths would give you the “sum over histories” — the path that the particle actually follows in the end.
The behavior of communities, proto-states and nation-states (at least on our humble and familiar planet Earth) arguably follows a similar path…
If we apply the nation-state as an organizing principle for the modern era (recognizing the prevalence of artificial boundaries and the existence of both nations without states and states without nations), the possibilities of a state’s path are seemingly endless. However, a probability of a state’s path can be constructed to sketch out a picture of the future.
Take Turkey, for example. For years, we have heard political elites in the United States, Eastern Europe and the Middle East lament a Turkey obsessed with Islamism and unwilling or incapable of matching words with action in dealing with regional competitors like Iran and Russia. Turkey was in many ways overlooked as a regional player, too consumed by its domestic troubles and too ideologically predisposed toward Islamist groups to be considered useful to the West. But Turkey’s resurgence would not follow a linear path. There have been ripples and turns along the way, distorting the perception of a country whose regional role is, in the end, profoundly shaped by its position as a land bridge between Europe and Asia and the gatekeeper between the Black and Mediterranean seas.
How, then, can we explain a week’s worth of events in which Turkey launched airstrikes at Antichrist Islamic State forces and Kurdish rebels while preparing to extend a buffer zone into northern Syria — actions that mark a sharp departure from the timid Turkey to which the world had grown accustomed? We must look at the distant past, when Alexander the Great passed through the Cilician Gates to claim a natural harbor on the eastern Mediterranean (the eponymous city of Alexandretta, contemporarily known as Iskenderun) and the ancient city of Antioch (Antakya) as an opening into the fertile Orontes River Valley and onward to Mesopotamia. We move from the point when Seljuk Turks conquered Aleppo in the 11th century all the way up to the crumbling of the Antichrist Ottoman Empire in the wake of World War I, when a fledgling Turkish republic used all the diplomatic might it could muster to retake the strategic territories of Antioch and Alexandretta, which today constitute Hatay province outlining the Syrian-Turkish border.
We must simultaneously look at the present. A contemporary map of the Syria-Turkey border looks quite odd, with the nub of Hatay province anchored to the Gulf of Iskenderun but looking as though it should extend eastward toward Aleppo, the historical trading hub of the northern Levant, and onward through Kurdish lands to northern Iraq, where the oil riches of Kirkuk lie in what was formerly the Ottoman province of Mosul.
We then take a long look out into the future. Turkey’s interest in northern Syria and northern Iraq is not an abstraction triggered by a group of religious fanatics calling themselves the Antichrist Islamic State; it is the bypass, intersection and reinforcement of multiple geopolitical wavelengths creating an invisible force behind Ankara to re-extend Turkey’s formal and informal boundaries beyond Anatolia.
Over the past two days, we’ve documented the escalating violence in Turkey, tracing the roots of Ankara’s newfound zeal for combating Antichrist Islamic State to a long-running conflict with the Kurdistan Workers’ Party and, more specifically, to an electoral setback for AKP.
In short, Antichrist President Recep Tayyip Erdogan’s push to consolidate his power by transforming the country into a presidential republic was derailed last month when, for the first time in more than a decade, AKP lost its absolute majority in parliament thanks to the pro-Kurdish HDP which won 13% of the vote.
In the final analysis, Turkey wants Assad out of Syria and that means backing anyone and everyone who is willing to help make that happen (including Antichrist ISIS) with the exception of the PKK, who Ankara is keen on crushing especially after June’s election results. So now, Turkey will use Antichrist ISIS as an excuse to procure NATO support for a politically motivated rout of Kurdish “terrorists”. The West will hope that Antichrist ISIS will suffer more damage than YPG, Turkey will hope that PKK and, by extension, YPG will suffer more damage than Antichrist ISIS, and everyone – Ankara, Washington, Antichrist ISIS, and PKK – will hope the when the dust (and blood) finally settles, Bashar al-Assad will have met a Gaddafi-esque end.
And all for what, you ask? All for this:
“In 2009 – the same year former French foreign minister Dumas alleges the Antichrist Crypto Fascist NWO 666 Rothschild British began planning operations in Syria – Assad refused to sign a proposed agreement with Antichrist Qatar that would run a pipeline from the latter’s North field, contiguous with Antichrist Iran’s South Pars field, through Antichrist Saudi Arabia, Antichrist Hashemite Jordan, Antichrist Syria and on to Antichrist Turkey, with a view to supply European Europa Whore markets – albeit crucially bypassing Putz Putin On The Russia Ritz.”
Top Russian Crypto Fascist official quoted by Antichrist Iranian official press says advanced missile defense system being tweaked – against potential Antichrist Israeli strike?
The West has long pressured Russia not to deliver its advanced S-300 missile defense system to Antichrist Iran, but a senior Russian official on Thursday said the system is being upgraded ahead of delivery to the Antichrist Islamic republic.
Antichrist Iran’s state-run media PressTV quoted Vladimir Kozhin, Russian President Vladimir Putz Putin’s aide on military and technical cooperation, saying that the system is to be modernized before being delivered to Iran. He gave no date for the delivery.
The comment refers to the fact that the original 2007 sales contract for the system was to have it delivered in 2010, but Russia withdrew its intention to sell due to pressure from the European Union (EU), which noted that UN nuclear sanctions banned the delivery.
But now with the Antichrist Iran nuclear deal it would appear Russia may go ahead on the transaction, after chief executive Yan Novikov of the Russian state arms producer Almaz-Antey hinted as much in comments last month cited by PressTV.
“All restrictions have been lifted by the political authorities. When there is a contract, we will supply the system, including to Antichrist Iran,” Novikov said.
Russia caused a diplomatic stir in April when Putz Putin On The Ritz signed a decree lifting a ban on the delivery of S-300 to Antichrist Iran; it later retracted and said no date has been set for the shipment.
Antichrist Iran meanwhile announced that it is planning to unveil its own Bavar 373 alternative to the S-300 in early September.
The transaction is highly significant because experts have warned that the S-300, and likely the Bavar 373 as well, would be able to block an Israeli or American airstrike aiming to take out Iran’s covert nuclear program that reportedly is aiming to build a nuclear arsenal.
The development is all the more troubling because the Iran nuclear deal stipulates that the West will train Antichrist Iran to block sabotage attempts on its nuclear program, meaning a possible Israeli cyber attempt to foul up Antichrist Iran’s march to the atomic bomb would also be thwarted.
Since the lows after the October 1987 crash, XOM has ‘trended’ positively for 28 years… finding support at a critical trendline four times over that period… until now. While internals of the market are weak, the fact that the world’s second largest stock has broken an historic trendline is notably concerning and confirmed by what will be the 3rd monthly close below the level today…
It is perhaps most ironic that XOM is cutting its buyback program… just as its stock shits a 52-week low. It appears the old “buy high, sell low” corporate strategy is in play.
Question to ask is not why the shares are down but why the such a large oil company is selling overseas assets in almost a panic fashio over the last few years?
Massive trouble in Venezuela including freezing of assets which they won and it has been disruptive for Exxon.
Lost Abu Dhabi concession: http://www.thenational.ae/business/energy/sharp-fall-in-profit-for-exxon…
Even Buffett sold their shares recently. http://www.cbc.ca/news/business/berkshire-hathaway-sells-exxon-stake-but…
Why are they selling all these assets?
What do they know that we don’t?
The video below, by the good Pastor Paul Begley, confirms EXACTLY WHAT ”THEY KNOW”.
A mighty angel took up a stone like a great millstone and cast it into the sea, saying, “Thus with violence will Babylon, the great city, be thrown down, and will be found no more at all.
A massive tornado event took place near Pierson in the Canadian Manitoba province, around 01:30 UTC on Monday, July 28, 2015. Tornado roared through the province for almost 3 hours, until about 03:55 UTC, possibly setting the record for the longest lasting tornado touch-down in Canada and maybe even worldwide. No injuries or victims were reported.
The violent tornado was rated in EF-2 category, which means the wind speeds were ranging between 179 to 218 km/h (111 to 135 mph) leading to severe infrastructural damage, including uprooted trees, roofs blown off houses, destroyed sheds and upturned mobile homes. This tornado tore it’s way through rural southwest of Manitoba province, severely damaged trees, farms and roads, however, luckily, no cities or settlements were lying on it’s path, Environment Canada reported.
According to radar imagery, the twister stayed on the ground for more than two and a half hours, which is an extremely rare event in Canada where tornado touch-downs usually last for a few minutes, Mike Macdonald, Environment Canada meteorologist, explained. “To be on the ground for 2.5 to three hours is phenomenal … and to miss everything is basically a miracle”, he concluded.
David Wills, a tornado expert of Environment Canada, said that if the conclusive analysis determined that the tornado touch down indeed lasted for three hours, “that would likely be among the longest tornado tracks in Canada … Perhaps the longest”.
The weather system responsible for the twister event also brought snow and icy weather accompanied with cold winds to parts of the U.S. Rocky Mountains and strong hailstorm across the regions of northern Plains.
“This pattern should not happen in July,” said the weather service forecast office in Billings.
At least 20 people have been killed in a landslide as monsoon rains continue to batter parts of South-East Asia.
The landslip in the eastern Indian state of Manipur buried a whole village, Indian media reported.
In neighbouring Myanmar, four western regions have been declared disaster zones after heavy floods left at least 27 people dead.
Landslides in Nepal, caused by the heavy rainfall on Thursday, July 30, killed at least 30 people in the villages near Pokhara town, while 42 others remain missing.
Heavy rainfall affected western Nepal over the last couple of days. 116 mm (4.56 inches) of rain was measured in Pokhara city in a 24 hour period, between July 29 and July 30.
Landslide related incidents happened near the start of the Annapurna Circuit, a famous hiking route, around the 10th tallest mountain in the world, visited by more than 100 000 tourists a year.
Around half of the homes in the Lumle village were buried by a strong and fast moving stream of mud and rocks. “We have recovered 15 dead bodies in Lumle alone and another 28 people have gone missing as 14 houses were buried in the landslide, ” chief district officer of Kaski District, Krishna Bahadur Raut, said to Xinhua.
This year, Nepal was already a victim of two severe earthquakes which killed almost 9 000 people. The earthquake occurrence has increased the risk of landslides across the region which is especially prone to them between June and September, during the monsoon rain season.
The drop took place even as 505 companies were still halted on the Shanghai and Shenzhen exchanges on Friday, or 18% of all listings. Energy and industrial stocks dropped before Saturday’s manufacturing data. PetroChina Co., the biggest oil producer, slid 5.3 percent. Air Antichrist Communist China Ltd. dropped 10 percent; as these companies were among the mostly supported by the government it appears that the Antichrist Communist Chinese plunge protection team took today off.
This caps the worst month for Antichrist Communist Chinese stocks since since August 2009, as the government struggles to rekindle investor interest amid a $3.5 trillion rout, one which has sent the Shanghai market lower by 15% – the biggest loss among 93 global benchmark gauges tracked by Bloomberg, as margin traders cashed out and new equity-account openings tumbled amid concern valuations are unsustainable.
Following last night’s afternoon session plungefest (with ChiNext’s biggest drop in a month), as it appeared the government experimented with ‘free’ markets briefly, regulators have “asked” insurance companies to be “net sellers” of stocks going forward. With margin debt dropping for the 4th day in a row (to fresh 4-month lows), Markit noted that accusations of foreigners short selling shares is “overblown” by Antichrist Communist Chinese market regulators and not the cause of a recent rout in the stock market, according to the SCMP. The requests and threats appear to not be working as CSI-300 futures open down 0.7%.
As a reminder, this is how things ended last night…
And tonight we are seeing losses extend…
*ANTICHRIST COMMUNIST CHINA’S CSI 300 INDEX SET TO OPEN DOWN 1% TO 3,777.15
*ANTICHRIST COMMUNIST CHINA SHANGHAI COMPOSITE SET TO OPEN DOWN 1.4% TO 3,655.67
Antichrist Communist China Insurance Regulatory Commission asked insurers to try their best to avoid net sales of equities in near future, Shanghai Securities News reports, citing an unidentified person from an insurer.
And refutations to Antichrist Communist China’s claims that foreign sellers were “waging economic war”
Accusations of foreigners short selling shares is “overblown” by Antichrist Communist Chinese market regulators and not the cause of a recent rout in the stock market, South China Morning Post cites financial data co. Markit analyst Relte Stephen Schutte as saying. Official data shows minimal short selling of individual shares with shorting of domestic ETFs at only 1.2% of total domestic ETFs under management, Schutte is cited as saying
* * *
On a more sombre note, the first major casualty of the Antichrist Communist Chinese stock market disaster has happened as Caixin reports well-known fund manager, Liu Qiang, a 36-year-old fund manager at Ruilin Jiachi, jumped to his death from a high-rise in downtown Beijing, angry the government intervened in the stock market rout, people who knew him say…
Several people close to Liu said he suffered from depression and returned to work in April after spending three years in the southwestern province of Yunnan where he was seeking treatment for depression. “He has had a very tough time in recent years,” one of Liu’s friends said.
Some of Liu’s friends said he had been very frustrated by the government’s efforts to support the bourse amid recent turmoil because he believed this upset market order. He thought that “the rules and order of the market had been broken … and was desperate, feeling that he was at his wit’s end,” one of his friends said.
Publicly available data show that the fund he managed, which invests in stocks and futures, had lost about 18 percent of its value this year and would be liquidated if losses exceeded 20 percent. But a person close to Liu said most of the fund’s investors were his friends who agreed with his belief in long-term investment. They were not eager to liquidate the fund, he said.
In a blog dated July 7, Liu wrote: “The stock market disaster has turned many of my investment principles upside down … and made me doubt many times whether I’m still suitable for the market.”
posing a question just what is going on in the country with the biggest debt load in Europe, and more importantly how is it that Rome is still unable to benefit from the ECB’s QE which has pushed Italian yields far below those of the US despite an economy which is suddenly taking on water.
And nowhere was this more visible than in Italy’s youth unemployment rate, which surprisingly jumped by nearly 2% to 44.2%, a record level, and one which is starting to rival some of Europe’s most troubled nations, such as Spain and of course Greece.
As Bloomberg put it, “Italy’s jobless rate unexpectedly rose in June as businesses continue to dismiss workers amid concerns that the country’s exit from recession may not be sustainable. Youth unemployment jumped to a record-high 44.2 percent.
Unemployment increased to 12.7 percent from a revised 12.5 percent in May, statistics agency Istat said in a preliminary report in Rome on Friday. The median estimate in a survey of nine analysts called for a rate of 12.3 percent.
Youth unemployment in June rose to the highest rate since the series began in 2004, from 42.4 percent in May. Employment dropped for a second month in a row, with about 22,000 jobs lost in June alone, according to the report.
In an indicative case study that not all is well in Italy, Bloomberg reminds us that Telecom Italia SpA said this month it plans to eliminate 1,700 jobs, representing about 3 percent of its workforce, and is delaying a youth-hiring program as Italy’s biggest phone company seeks to reduce labor costs.
Put in context, joblessness in Italy, the euro area’s third-largest economy, has been at 12% or above for more than two years as the record slump deepened before gross domestic product started to rise again at the end of 2014.”
On Monday, the International Monetary Fund said in a report that “without a significant pick-up in growth,” it would take Italy “nearly 20 years to reduce the unemployment rate to pre-crisis” levels of about half the current one.
Prime Minister Matteo Renzi’s changes to Italy’s labor code showed early results as the number of open-ended contracts taking effect in the first half increased, the government said. Still, executives’ confidence declined this month amid doubts on the outlook for economic recovery and employment.
How long before Italy’s repeat-disgruntled youth realizes it was duped once again, and Beppe Grillo emerges on the Italian scene with renewed vigor, and the Greek tragicomedy gets a sequel in the old, Roman style?
I must work the works of him that sent me, while it is day: the night cometh, when no man can work.
5 As long as I am in the world, I am the light of the world.
And this gospel of the kingdom shall be preached in all the world for a witness unto all nations; and then shall the end come.
15 When ye therefore shall see the abomination of desolation, spoken of by Daniel the prophet, stand in the holy place, (whoso readeth, let him understand:)
16 Then let them which be in Judaea flee into the mountains:
A 4.3-magnitude earthquake occurred early Thursday in Israel. No injuries or damage were reported.
An Antichrist ultra-Orthodox Jewish man stabbed and wounded six participants, two of them seriously, in the annual Antichrist Homosexual Pride parade in Jerusalem on Thursday, with police saying the suspect was jailed for a similar attack 10 years ago.
About 5,000 people celebrating the event were marching along an avenue when a man jumped into the crowd, apparently from a supermarket, and plunged a knife into some of the participants, witnesses said.
“We heard people screaming, everyone ran for cover, and there were bloodied people on the ground,” Shai Aviyor, a witness interviewed on Israel’s Channel 2, said.
It was the worst attack in years on the event in Jerusalem, a divided city where the religious population is more prominent than in other parts of Israel and highlighted the tension nationwide among disparate social groups.
Antichrist Prime Minister Benjamin 911 Netanyahu called it “a despicable hate crime”, and Antichrist President Reuven Rivlin warned that social intolerance could spell disaster for Israel.
A reed [as a measuring rod] was then given to me, [shaped] like a staff, and I was told: Rise up and measure the sanctuary of God and the altar [of incense], and [number] those who worship there.
2 But leave out of your measuring the court outside the sanctuary of God; omit that, for it is given over to the Gentiles (the nations), and they will trample the holy city underfoot for 42 months (three and one-half years). 3 And I will grant the power of prophecy to My two witnesses for 1,260 (42 months; three and one-half years), dressed in sackcloth.
4 These [witnesses] are the two olive trees and the two lampstands which stand before the Lord of the earth. 5 And if anyone attempts to injure them, fire pours from their mouth and consumes their enemies; if anyone should attempt to harm them, thus he is doomed to be slain.
6 These [two witnesses] have power to shut up the sky, so that no rain may fall during the days of their prophesying (their [a]prediction of events relating to Christ’s kingdom and its speedy triumph); and they also have power to turn the waters into blood and to smite and scourge the earth with all manner of plagues as often as they choose.
7 But when they have finished their testimony and their evidence is all in, the beast (monster) that comes up out of the Abyss (bottomless pit) will wage war on them, and conquer them and kill them. 8 And their dead bodies [will lie exposed] in the open street ([b]a public square) of the great city which is in a spiritual sense called [by the mystical and allegorical names of] Sodom and Egypt, where also their Lord was crucified.
9 For three and a half days men from the races and tribes and languages and nations will gaze at their dead bodies and will not allow them to be put in a tomb. 10 And those who dwell on the earth will gloat and exult over them and rejoice exceedingly, taking their ease and sending presents [in congratulation] to one another, because these two prophets had been such a vexation and trouble and torment to all the dwellers on the earth.
11 But after three and a half days, by God’s gift the breath of life again entered into them, and they rose up on their feet, and great dread and terror fell on those who watched them. 12 Then [the two witnesses] heard a strong voice from heaven calling to them, Come up here! And before the very eyes of their enemies they ascended into heaven in a cloud.
The Shemitah is part of a larger framework of seven Shemitah cycles, in which we count 49 years, and then the 50th year is the Jubilee year, as described in Leviticus, chapter 25. The Jubilee year is observed only when all of the Nation of Israel is in the Land of Israel. Therefore, when the Jews returned from Babylonian Exile, since many chose to remain in the Diaspora, the Jubilee was not observed. For the same reason, it is not observed today in modern Israel.
It is interesting to note that despite the initiation of the Shemitah year being determined by the actions of the Jews, it worked out that the first Shemitah year was a multiple of seven since the creation of the world, according to the Jewish calendar. The year after the destruction of the Second Temple, 3829, was also known to be a Shemitah year, 547 seven year cycles since the creation of the world. The current Hebrew year is 5775; precisely 825 Shemitah cycles.
The Babylonian Talmud in the Tractate of Sanhedrin, 97a, brings the verse from >>>Amos 9:11:<<<
“On that day, will I raise up the fallen booth (Sukkah) of David.”
This verse comes in the context of a prophecy about God bringing the nation of Israel back from exile among the nations. Amidst descriptions of the days preceding the Messiah, the Talmud says:
“As it is written, in that day I will raise up the tabernacle of David that is fallen. Our Rabbis taught: in the seven year cycle at the end of which the son of David will come-in the first year, this verse will be fulfilled.”
The Talmud is saying explicitly that the Messiah will come in the first year after the Shemitah. It should be noted that the Talmud describes the days before the Messiah in depth, and they are especially difficult times.
Long before Cahn penned “The Harbinger” or gave his first teaching on the connections he found between Sept. 11 and Isaiah 9:10, the editors of “The One-Year Bible,” which has 365 days of Scripture readings, decided to include that verse in the Sept. 11 reading.
Isaiah 9:10 is included that day in every version for the 16 years prior to 9/11 and the 13 years since.
“This has been the case since 1985,” said Cahn. “It’s been there for years. Millions of Americans have been reading this verse on Sept. 11 for 16 years before 2001.”
“It’s a remarkable coincidence,” said Joseph Farah, producer of “The Isaiah 9:10 Judgment.” “Unless it’s not coincidence at all. That would make it even more remarkable.”
In 1985, “The One-Year Bible” was published using the text of many different Bible translations around the world – from the Living Bible to the Catholic Bible to the New King James version to the New American Standard and the English Standard Bible.
A reader who turns to the date of Sept. 11 – no matter the year – sees Isaiah 9:10: “The bricks are fallen down, but we will build with hewn stones: the sycomores are cut down, but we will change them into cedars.” (KJV)
Isaiah 9:10 911 Harbinger Sign On One World Trade In New York City Of Babylon Destroyed 22nd Floor Same Date 22nd September 2015 Day Of Atonement Yom Kippur Start Of The Jubilee U.N. Year Of Light Petrus Romanus Pope Visit To D.C. And New York For Prophetic Peace And Security Two State Final Israel Solution Climate Change Global Satanic Agenda.
While Obozo was creating a stir in Manhattan with star-studded celebrity fundraisers, he also took a side trip that got less publicity. His official presidential business was a visit to the new World Trade Center building site where he signed a steel girder with a message of interest to the hundreds of thousands who have read “The Harbinger” or seen the video documentary “The Isaiah 9:10 Judgment.”
“We remember,” he wrote. “We rebuild. We come back stronger!”
The book and the video have shocked readers and viewers around the country and the world by showing the eerie and striking parallels between the vows of the leaders of ancient Israel before its judgment and fall and those of American leaders since Sept. 11, 2001.
“What was foreshadowed in ‘The Harbinger’ and ‘The Isaiah 9:10 Judgment’ film is now being fulfilled by the president of the United States,” said Jonathan Cahn, the messianic rabbi-pastor and author.
The book and film specifically connect Obozo’s words from his first State of the Union message in January 2009 with the ancient vow that brought judgment to ancient Israel.
The ancient vow begins with these words: ‘The bricks have fallen, but we will rebuild with hewn stone,’” explains Cahn. “The vow declares Israel’s defiance of God, in the face of a devastating strike on the land. The hewn stone, which begins the rebuilding, symbolizes the nation’s intention to come back stronger than before. The book then reveals the parallel a proclamation given by Obama:
“Tonight I want every American to know this: We will rebuild. And the United States of America will emerge stronger than before,” he said.
However, that comment, which represented the theme of his first major speech upon taking office, was not addressing the attack of 9/11. It was addressing the economy and the state of the country generally. Yesterday, Cahn points out, Obozo returned to the location of the attack – bringing the message full circle.
He points out how Obozo’s words even parallel a Bible commentary on the verse Isaiah 9:10: “They boasted that they would rebuild their devastated country and make it stronger than ever before.”
In “The Harbinger” and “The Isaiah 9:10 Judgment,” the focal point of this vow of judgment is the tower rising up out of the ruins of Ground Zero. It comprises the fourth harbinger – and remains the one harbinger that is still under construction.
“On June 14, two of the mysteries of ‘The Harbinger,’ foreshadowed in the book came true,” explained Cahn. “Obozo went to Ground Zero to see the still rising tower. He was given a beam which will constitute the tower’s final and highest beam. On the beam, the president wrote eight words – which were, in effect, a summation of the ancient vow of judgment: ‘We Remember, We Rebuild, We Come Back Stronger!’”
Cahn continued: “So now the now the tower will be crowned and finished with words paralleling Isaiah 9:10, the ancient vow of national judgment. The tower was begun with the laying down of a hewn stone, the very same object mentioned in Isaiah 9:10 which begins the rebuilding.”
“Now the words and the tower have been joined together in reality – and the one who did it was the president of the United States,” he told WND. “One subtle difference in the words, is that the vow is spoken in the future tense. But now the words inscribed on the towers are in the present tense. In other words, they not only speak of the defiant vow, but of the fact that the vow is being fulfilled. This,” says Cahn, “constitutes another ominous sign.”
Antichrist NWO 666 President Barack Obozo The 911 Homosexual Climate Change Crypto Fascist Clown has “a painful, unpleasant, shocking sympathy to radical Antichrist Islam,” Morton Klein, president of Antichrist Zionist Organization of America and former economist for Presidents Richard Nixon, Gerald Ford and Jimmy Carter, tells Newsmax TV.
“This is a man who refuses to use the term Antichrist Islamic terrorism, a man who refused to go to the Paris march to fight against Antichrist Islamic terrorism, a man who fought to get rid of [Hosni] Mubarak in Egypt, an ally,” Klein said Thursday on “The Steve Malzberg Show.”
“[With] Guantanamo, he’s released dozens of extremely high risk terrorists, virtually for nothing and when the Antichrist Palestine Authority joined with Antichrist Hamas, [he] said nothing and kept giving money to the Antichrist Palestine Authority.
“This is painful to say … the evidence requires me to believe that he has a painful, unpleasant, shocking sympathy to radical Antichrist Islam.”
Klein is also disturbed with what he believes is the commander in chief’s lack of criticism toward Antichrist Iran. Despite protests from Israel, the U.S. and other world powers hammered out a deal limiting the Antichrist Middle East nation’s ability to build nuclear bombs in exchange for economic sanctions being lifted.
“He has never criticized Antichrist Iran even once. He’s never said, ‘Stop saying death to America,'” Klein said.
“When [Antichrist Iran President] Hassan Rouhani last week said ‘death to America to say is easy, what we need is death to America with action,’ and Obozo doesn’t criticize him, I’m worried about where he stands on these issues.”
Despite protests from Israel, the U.S. and other world powers hammered out a deal limiting the Antichrist Middle East nation’s ability to build nuclear bombs in exchange for economic sanctions being lifted.
“This deal gives them hundreds of billions of dollars in money … as the world’s leading country who funds and arms Islamic terrorists … You’re going to see a dramatic increase of Antichrist Islamic terrorism because they’re going to be funding them,” Klein said.
“They already give hundreds of millions of dollars a year to Hamas and Hezbollah, they’ve already given tens of thousands even 100,000 missiles to Antichrist Hezbollah. There will be more, they have 80 training camps in South America of Antichrist jihadists training for terrorism. They’re doing terrorism in 30 countries on five continents.
“This is an insane deal to be funding and giving all this money to a country that promotes Antichrist Islamic terrorism. As [Sen.] Ted Cruz said, ‘It’ll make America the biggest financier of Antichrist Islamic terrorism on Earth.'”
Klein’s group, the oldest pro- Antichrist Israel organization in the United States, describes itself as “dedicated to educating the public, elected officials, media, and college/high school students about the truth of the ongoing and relentless Antichrist Arab war against Antichrist Israel.”
I found this quote, where Katherine Hepburn is trying to convince Montgomery Clift to lobotomize Elizabeth Taylor so that she’d forget her former life and be less fearful and anxious … less volatile, in other words … to be an eerily apt description of what Central Bankers have tried to do with markets.
We endured an event last summer that, just as in the movie, ultimately brings all the mendacity out of the shadows and into the open. When Yellen declared last summer that the Fed had now firmly embraced a tightening bias, followed by the rest of the world declaring that they were doubling down on extraordinary monetary policy easing, the entire world was set on a path where all of the political fragmentation – all of the deep fissures within and between countries – would be inexorably revealed. Suddenly last summer, the mask of global monetary policy cooperation was ripped away, and the investment world will never be the same.
Here are two Bloomberg charts that show what I mean. On the top is a 5-year chart of DXY – the trade-weighted dollar index. On the bottom is a 5-year chart of WTI crude oil spot prices. Does this look like an accidental relationship to you? Can we just stop with all the hand-wringing about how there’s suddenly too much oil in the world, or how the Saudis are trying to crush US shale production, or any of the other spurious supply-and-demand “explanations” for why oil prices have collapsed? Seriously. Can we just stop?
Monetary policy divergence manifests itself first in currencies, because currencies aren’t an asset class at all, but a political construction that represents and symbolizes monetary policy. Then the divergence manifests itself in those asset classes, like commodities, that have no internal dynamics or cash flows and are thus only slightly removed in their construction and meaning from however they’re priced in this currency or that. From there the divergence spreads like a cancer (or like a cure for cancer, depending on your perspective) into commodity-sensitive real-world companies and national economies. Eventually – and this is the Big Point – the divergence spreads into everything, everywhere. Some things will go up, and some things will go down. But the days of ALL financial assets inflating in lock-step … the days of everything, everywhere going up together … that’s over.
For a lot of active investment managers, this is great news.
For a lot of politicians and central bankers – particularly the weaker ones, either in resources or in willpower (yes, I’m looking at you, Alexis Tsipras) – this is terrible news.
For investors? Well, it’s a mixed bag. Certainly it’s a more difficult bag, where so many of the learned behaviors of the past five years that worked so well in an environment of monetary policy coordination will fail miserably in an environment of monetary policy competition. But it beats getting a lobotomy. I think. We’ll see.
Trade Recommendation and Conclusion
Aggressive investors can take advantage of this analysis by shorting the six highlighted companies on a market neutral basis and countering the short positions with long positions in companies offering fair valuations. Conservative investors may want to sell holdings in these firms or shy away from future purchases in them.
P/E ratios calculated with past, present and future EPS along with many other valuation techniques currently register in the extreme upper tiers of historical readings (click here to reference “Courage” in which we illustrate the currently rich valuations). Investors in companies or indices containing a significant number of companies conducting buybacks should carefully consider the effects, distortions and long term ramifications of share buybacks.
The contradiction of buybacks is apparent; a company should not have a higher P/E multiple resulting from buyback actions when those actions at the same time reduce the company’s ability to achieve the additional growth required to justify the higher P/E multiple.
The best way to avoid the permanent impairment of capital is to never overpay for an asset.
“…the [CDC] co-authors scheduled a meeting to destroy documents related to the [MMR vaccine] study. The remaining four co-authors all met and brought a big garbage can into the meeting room and reviewed and went through all the hard copy documents that we had thought we should discard and put them in a huge garbage can.” (William Thompson, CDC researcher)
On July 29, US Congressman Bill Posey made his last stand on the floor of the House. Granted five minutes to speak, he laid bare the lying of the CDC in a now-famous 2004 study that exonerated the MMR vaccine and claimed it had no connection to autism.
“No connection to autism” was the lie.
Congressman Posey read a statement from long-time CDC researcher William Thompson, one of the authors of the 2004 Pediatrics study designed to determine, once and for all, whether the Measles-Mumps-Rubella vaccine could cause autism.
Thompson saw and participated in violating the protocol of the study. He was there. He helped his co-authors destroy documents that would have shown an MMR-autism link.
Of note: two of the CDC researchers on the infamous 2004 study, who according to Thompson, destroyed vital documents, are Coleen Boyle and Frank DeStefano. They are both high-ranking executives at the CDC in the area of vaccine safety.
This calls into question every single CDC study, under their tenure, that claims vaccines are safe.
CDC whistleblower Thompson’s statement, which Posey read on the House floor, includes this bombshell:
“However, because I [Thompson] assumed it [destroying the documents] was illegal and would violate both FOIA and DOJ requests, I kept hard copies of all documents in my office and I retained all associated computer files. I believe we intentionally withheld controversial findings from the final draft of the Pediatrics paper.”
Thompson has the smoking-gun documents. So does Congressman Posey. I believe others do as well.
So: publish them. Publish them now.
There are lawsuits to be filed. Eleven years have passed since the CDC committed its crime of concealing the MMR vaccine-autism connection. How many parents, never informed of the truth, have permitted their children to receive this vaccine? How many children have been struck down by the vaccine?
The lawsuits should be filed against the CDC and the individual authors of the 2004 study. Lawyers must depose every CDC employee who had knowledge of the crime.
And what about the fact that the MMR vaccine is one of the shots that has been mandated, by law, in California, in other states, and in Australia? Mandating neurological destruction of children is a crime that must be investigated and punished. If these states (and other countries) insist on keeping the MMR on their schedules, they are guilty parties.
Understand what we are dealing with here, in terms of public exposure: the author of a peer-reviewed and published study; the author who has worked for many years at the CDC; the author who participated in destruction of vital documents; the author has come forward and admitted his crime and the crime of his colleagues. This kind of confession never happens.
But it did happen.
And this story and what it means must not die, no matter how major media outlets try to spin it or ignore it.
Parents who are, in ignorance, allowing their children to receive the MMR vaccine, must be informed. They must know what is going on. They must know the danger to their children.
Australia, Canada, England, New Zealand, Germany, France, India, Antichrist Communist China, South Africa…wherever the MMR vaccine is given…parents must be made aware they’re gambling with their children’s lives.
Government officials anywhere in the world who make this continuing crime possible are liable.
So are manufacturers of the MMR.
Get busy. Expose the truth.
A powerful new technique for generating “supercharged” genetically modified organisms that can spread rapidly in the wild has caused alarm among scientists who fear that it may be misused, accidentally or deliberately, and cause a health emergency or environmental disaster.
The development of so-called “gene drive” technology promises to revolutionise medicine and agriculture because it can in theory stop the spread of mosquito-borne illnesses, such as malaria and yellow fever, as well as eliminate crop pests and invasive species such as rats and cane toads.
However, scientists at the forefront of the development believe that in the wrong hands gene-drive technology poses a serious threat to the environment and human health if accidentally or deliberately released from a laboratory without adequate safeguards. Some believe it could even be used as a terrorist bio-weapon directed against people or livestock because gene drives – which enable GM genes to spread rapidly like a viral infection within a population – will eventually be easy and cheap to generate.
Back in April, Deutsche Bank agreed to pay $2.5 billion (or around $25,475 per employee) to the DoJ, the CFTC, the NY Department for Financial Services, and the UK’s FCA in connection with the bank’s role in the global conspiracy to rig LIBOR (and EURIBOR, and TIBOR, but who’s counting). The fine marked the largest LIBOR-related settlement thus far but as usual, regulators stopped short of insisting that the actual human beings responsible for the manipulation of a benchmark upon which trillions in financial assets are based be put behind bars. In other words, no people were held accountable.
That said, we got a faint glimmer of hope on the accountability front when, late last month, FT reported that the German financial watchdog BaFin was looking into whether (former) co-CEO Anshu Jain lied to the Bundesbank about when he first learned that his traders and submitters might have been involved in fixing the LIBOR fixes.
A few weeks later, the full BaFin letter sent to Deutsche Bank was released by WSJ and sure enough, the regulator says very plainly that Jain has “been proven to have learned about discussion in the market concerning the susceptibility of the LIBOR to manipulation in 2008,” despite having told the Bundesbank that he had no such knowledge until at least three years later.
The report also details Jain’s cozy relationship with rate rigger extraordinaire Christian Bittar as well as outlining how it was indeed Anshu Jain who personally oversaw a seating assignment change in 2005 that deliberately placed traders next to submitters in order to facilitate communication between the two. Unsurprisingly, BaFin promptly decided that it was just kidding and that the very thing it was absolutely sure of in May was actually “unsubstantiated” – Jain was subsequently cleared of any malfeasance.
On Thursday, WSJ reported the latest absurd twist in the Deutsche Bank LIBOR manipulation saga. Apparently, just one month after the April settlement with regulators, the bank said it had “lost” records of chats between employees dating back to 2005. Deutsche Bank couldn’t say how many chats might have disappeared, and although the bank promised to try very hard to recover them, it did concede that unfortunately, they may be lost forever which could mean that its disclosures in connection with the settlement are incomplete. Here’s more:
A month after reaching a $2.5 billion settlement over interest rate rigging, Deutsche Bank AG told regulators its disclosures may have been incomplete because it accidentally failed to archive electronic chats involving its employees, people familiar with the matter said.
The bank is working to recover the records from its systems but might have permanently lost an unknown number of chats dating back to 2005, the people said.
The disclosure poses a new regulatory headache for the German lender. Deutsche Bank already has been criticized by regulators for shortcomings in retaining data, including the destruction of hundreds of audiotapes that U.K. regulators said could have been relevant to their investigation into manipulation of the London interbank offered rate, or Libor.
Deutsche Bank disclosed the problem to regulators, including the New York Department of Financial Services, in May, a month after the bank entered into the settlement with a handful of authorities in the U.S. and the U.K., the people familiar with the matter said.
“After we discovered this software defect in one of our internal messaging systems, we reported it to our regulators and are presently working with them to rectify it,” the bank said in an emailed statement. “We have been able to recover a majority of the chats via a backup system.”
Yes, Deutsche Bank has recovered “a majority of the chats” and wouldn’t you know it, none of the recovered chats contains “any communications the bank considers new or relevant to the Libor investigation.”
As much as everyone wants to believe that a rogue software program may be responsible for the selective deletion of LIBOR related internal chats, The Department of Financial Services is going to look into it anyway because after all, it’s certainly possible that Deutsche Bank simply wiped the chats away so as to cover up something even worse than what’s already out there regarding the bank’s role in rate setting collusion.
The bank’s lawyers told officials at the department that the failure to archive was caused by an unintentional software glitch and that it learned about the error after the settlement, two people familiar with the matter said. The purely internal messaging system, called “DB Chat,” was used by employees going back more than a decade.
The Department of Financial Services, New York state’s top banking regulator, has begun a probe of the incident. It is examining whether potential violations that should have been covered by the Libor settlement weren’t reported because of the error, according to one of the people familiar with the matter. The office is also investigating whether or not the error was intentional and when the bank discovered it.
Amusingly, the chats “date back to 2005”, which is precisely when Anshu Jain instituted the new seating arrangement that greased the wheels of the rate rigging machine at Deutsche.
So we won’t hold our breath waiting for Deutsche Bank’s rigorous internal investigation to uncover anything material here and even if this ends up causing the New York Department of Financial Services to revisit the terms of the settlement, any additional fines or “punshments” will of course be inconsequential, but what is interesting is that given the sheer depravity revealed in the transcripts of chats that were uncovered in the course of the original probe, one shutters to think what was so bad that it had to be selectively and deliberately purged forever.
Then again (and we’d be remiss if we didn’t draw this rather obvious parallel): “what difference at this point does it actually make?”
A few weeks after Hillary Clinton was sworn in as secretary of state in early 2009, she was summoned to Geneva by her Swiss counterpart to discuss an urgent matter. The Internal Revenue Service was suing UBS AG to get the identities of Americans with secret accounts.
If the case proceeded, Switzerland’s largest bank would face an impossible choice: Violate Swiss secrecy laws by handing over the names, or refuse and face criminal charges in U.S. federal court.
Within months, Mrs. Clinton announced a tentative legal settlement—an unusual intervention by the top U.S. diplomat. UBS ultimately turned over information on 4,450 accounts, a fraction of the 52,000 sought by the IRS, an outcome that drew criticism from some lawmakers who wanted a more extensive crackdown.
From that point on, UBS’s engagement with the Clinton family’s charitable organization increased. Total donations by UBS to the Clinton Foundation grew from less than $60,000 through 2008 to a cumulative total of about $600,000 by the end of 2014, according the foundation and the bank.
The bank also joined the Clinton Foundation to launch entrepreneurship and inner-city loan programs, through which it lent $32 million. And it paid former president Bill Clinton $1.5 million to participate in a series of question-and-answer sessions with UBS Wealth Management Chief Executive Bob McCann, making UBS his biggest single corporate source of speech income disclosed since he left the White House.
– From today’s Wall Street Journal article: UBS Deal Shows Clinton’s Complicated Ties
The best part about Hillary Clinton’s run for the Presidency, is the endless series of scandals and shadiness that inevitably comes along with being part of an entrenched status quo family that prioritizes the accumulation of wealth and power above all else. The reason Barack Obozo was able to generate so much genuine “hope” prior to his election is 2008, is because he was a complete unknown. He could say all the right things, and it was easy for people to believe the hype.
The exact oppositie is true of Hillary. No one believes anything that comes out of her mouth. Everyone knows she is dishonest, shady, and as Camille Paglia perfectly summarized in her Salon article today:
Hillary has accomplished nothing substantial in her life. She’s been pushed along, coasting on her husband’s coattails, and every job she’s been given fizzled out into time-serving or overt disaster. Hillary constantly strikes attitudes and claims she’s “passionate” about this or that, but there’s never any sustained follow-through. She’s just a classic, corporate exec or bureaucrat type who would prefer to be at her desk behind closed doors, imposing her power schemes on the proletariat. She has no discernible political skills of any kind, which is why she needs a big, shifting army of consultants, advisors, and toadies to whisper in her ear and write her policy statements. There’s this ridiculous new theme in the media about people needing to learn who the “real” Hillary Clinton is. What? Everything they’re saying about what a wonderful person Hillary is in private tells us that she’s not competent or credible as a public figure! A politician, particularly a president, must have a distinct skill or expertise in communicating with the masses. It’s the absolutely basic requirement for any career in politics.
Now, let’s take a look at the pantsuit revolutionary’s latest scandal, outlined in today’s Wall Street Journal:
A few weeks after Hillary Clinton was sworn in as secretary of state in early 2009, she was summoned to Geneva by her Swiss counterpart to discuss an urgent matter. The Internal Revenue Service was suing UBS AG to get the identities of Americans with secret accounts.
If the case proceeded, Switzerland’s largest bank would face an impossible choice: Violate Swiss secrecy laws by handing over the names, or refuse and face criminal charges in U.S. federal court.
Within months, Mrs. Clinton announced a tentative legal settlement—an unusual intervention by the top U.S. diplomat. UBS ultimately turned over information on 4,450 accounts, a fraction of the 52,000 sought by the IRS, an outcome that drew criticism from some lawmakers who wanted a more extensive crackdown.
From that point on, UBS’s engagement with the Clinton family’s charitable organization increased. Total donations by UBS to the Clinton Foundation grew from less than $60,000 through 2008 to a cumulative total of about $600,000 by the end of 2014, according the foundation and the bank.
The bank also joined the Clinton Foundation to launch entrepreneurship and inner-city loan programs, through which it lent $32 million. And it paid former president Bill Clinton $1.5 million to participate in a series of question-and-answer sessions with UBS Wealth Management Chief Executive Bob McCann, making UBS his biggest single corporate source of speech income disclosed since he left the White House.
The UBS matter involved her helping solve a problem for a foreign bank—not a popular constituency among Democrats—and stepping into an area where government prosecutors had been taking the lead.
Banks are not a “popular constituent among Democrats.” What planet are you living on?
UBS officials deny any connection between the legal case and the foundation donations. “Any insinuation that any of our philanthropic or business initiatives stems from support received from any current or former government official is ludicrous and without merit,” a bank spokeswoman said. UBS said the speeches by Mr. Clinton and the donations were part of a program to respond to the 2008 economic downturn.
UBS’s troubles began in 2007 when an American banker working in Switzerland told the U.S. Justice Department that UBS had recruited thousands of U.S. customers seeking to avoid U.S. taxes. The disclosure led UBS to enter into a deferred-prosecution agreement with the Justice Department in 2009. The bank admitted to helping set up sham companies, creating phony paperwork and deceiving customs officials. It paid a $780 million fine and turned over the names of 250 account holders.
If you or I were caught doing 0.5% of what UBS did we would be thrown in the gulag for life.
On July 31, Ms. Calmy-Rey appeared with Mrs. Clinton at the State Department to announce a deal in principle. The Justice Department and IRS agreed to dismiss the lawsuit and settle the disagreement under a U.S.-Swiss tax treaty, as Ms. Calmy-Rey had sought. UBS would turn over information on about 4,450 accounts, not 52,000.
“Our governments have worked very hard to reach this point,” Mrs. Clinton said.
Ms. Calmy-Rey called the agreement a “Peace Treaty” and UBS praised it.
Mr. DiCicco, the senior Justice Department tax lawyer on the case who has since retired, said the State Department didn’t get involved in details of the settlement, but did warn about the ramifications of taking a tough line.
“There is a risk that if a large bank is indicted it would lose its ability to do business in the U.S.,” he said. “That was a consideration.” He said there was no “pressure” from the State Department on that issue.
Now you see what happens when banks become too big and too powerful to be indicted: Oligarchy. Rampant elite criminality. Unimaginable corruption.
Mr. Clinton earned $1.5 million for 11 appearances in New York, Dallas, Miami, Pittsburgh, San Francisco, Nashville and other cities. Mr. McCann, the UBS Wealth Management executive, conducted the panel discussions with Messrs. Clinton and Bush. Spokesmen for Mr. Bush and UBS declined to comment on how much Mr. Bush was paid.
Citizens’ Commission on Benghazi (CCB) member Clare Lopez, believes that in 2011 Hillary Clinton’s State Department was orchestrating its own gun running operation to the Libyan rebels—and that arms dealer Marc Turi has been set up to take the fall for these “illicit arms deals.”
“The Justice Department has charged Turi with lying on an export-license application, alleging he hid his intent to ship weapons and ammunition to Libya in direct violation of United Nations Security Council Resolution 170,” reports Jerome Corsi for WorldNetDaily.
“Marc Turi was set up and framed for something he didn’t do, while others, who actually did collaborate with Qatar and the UAE to deliver the weapons under U.S. and NATO protection and supervision, are not only not prosecuted like Marc Turi, they’re not even mentioned,” Lopez told Corsi.
“Lopez made it clear she was speaking for herself and not for the commission,” he reports.
Corsi has written several previous articles about the work of the CCB, which was established by Accuracy in Media back in 2013. “The commission has been working behind the scenes for the past two years to ensure Congress uncovers what really happened in the Sept. 11, 2012, attack in Benghazi that killed U.S. Ambassador Christopher Stevens and three other Americans,” writes Corsi.
“Lopez [said the] ‘key point is that Marc Turi, despite receiving written approval from the U.S. government to broker weapons to Antichrist Qatar and the Antichrist United Arab Emirates, never actually went through [with] any weapons purchases or shipments to Antichrist Qatar, to the Antichrist UAE or to Libya,” he writes.
Lopez referred to the Citizens’ Commission’s April 2014 interim report, which stated: “Even more disturbingly, the U.S. was fully aware of and facilitating the delivery of weapons to the Antichrist al-Qa’eda-dominated rebel militias throughout the 2011 rebellion. The Antichrist jihadist agenda of AQIM, the Libyan Islamic Fighting Group (LIFG), and other Antichrist Islamic terror groups represented among the rebel forces was well known to U.S. officials responsible for Libya policy.”
In fact, “The rebels made no secret of their Antichrist al-Qa’eda affiliation, openly flying and speaking in front of the black flag of Islamic jihad…” states the report.
When Hillary Clinton’s Libya-related emails were released, they exposed how Mrs. Clinton was interested in arming the rebels before they were “formally recognized by the U.S. or United Nations,” according to Catherine Herridge and Pamela Browne.
Fox News previously reported that Turi had said the “weapons supplied to Libya were in the hands of the U.S. government and the State Department’s Bureau of Political and Military Affairs, headed by key Hillary Clinton aide Andrew Shapiro,” reports Corsi. “Shapiro was responsible to oversee the export control process at the State Department.”
Mrs. Clinton exchanged emails with the Director of Policy Planning for the Department of State, Anne-Marie Slaughter, in the spring of 2011. On March 30, 2011, Slaughter counseled Hillary Clinton that she was “VERY dubious about arming the Libyan rebels.” When Hillary Clinton asked why, Slaughter argued that “sending more arms into a society generally… will result in more violence—against each other” and “adding even more weapons does not make sense.”
Yet Mrs. Clinton emailed her aide, Jake Sullivan, on April 8, 2011, that “FYI. The idea of using private security experts to arm the opposition should be considered.”
Years after the intervention, Libya remains a broken state marred by ongoing violence.
It’s already been established that Mrs. Clinton failed to turn over all of her work related emails, allowed sensitive and classified material on her private email server, and lied about both. Yet we are asked to believe that the more than 30,000 emails that she had deleted and wiped from her server were all personal emails. It’s clear that even her allies in the media are getting nervous about where all of this is headed, since she is the presumed Democratic Party standard bearer. The question is, will she ever be held accountable, and judged by the same standards as others who have “mishandled” classified information? And what about her role in the Libyan and Benghazi scandals?
What is especially curious is that the jet’s registration number, HZ-IBN, was used by Osama bin Laden’s father, Mohammed. who was also a victim of an aircraft accident, and used the same ID when he crashed in a small Beechcraft plane in 1967.
The family is believed to have retained the number, and now there have been two fatal airplane crashes with the identical registration number, resulting in the death of even more family members of Osama bin Laden whose official death took place, according to the US government in 2011 when he was killed by US special forces in Pakistan’s Abbottabad. Many members of the special forces team subsequently died under strange circumstances themselves.
We are confident many will be curious to learn the reasons for the crash and the contents of the black box, whose unsealing we hope will be less of a tainted political farce than what happened one year ago with the “black box” discovery of the tragic MH-17 flight over east Ukraine.
Planned Parenthood lobbied the Department of State many times during Hillary Clinton’s tenure there and received tens of millions of dollars from foreign policy agencies over the past few years, according to a new report.
As secretary of state, Clinton attacked the Mexico City Policy, which bans federal funding of abortion overseas. Her husband revoked the policy during his administration and Antichrist NWO 666 President Obozo The 911 Homosexual Climate Change Clown lifted the ban upon taking office in 2009. The United States Agency for International Development (USAID), which is tied to the State Department, steered more than $100 million in funding to Antichrist Planned Parenthood, its international affiliates, and the pro-abortion Population Council between 2010 and 2012, according to the Government Accountability Office—about 20 percent of the nearly $500 million pro-abortion organizations received from taxpayers during that time frame.
The taxpayer dollars that Antichrist Planned Parenthood received dwarfed the $3.4 million that Planned Parenthood spent on lobbying during Antichrist NWO 666 President Obozo 911 Homosexual Climate Change Clown’s first term, according to a report from Women Speak Out PAC, a partner of the Susan B. Anthony List, and American Rising. Government records document more than 30 instances of Antichrist Planned Parenthood lobbying federal agencies, including the State Department while Clinton was serving there.
Congress is now considering bills to deny taxpayer funds to the nation’s largest abortion provider after undercover video surfaced from the non-profit Center for Medical Progress showing Planned Parenthood officials casually discussing the harvesting of fetal organs and the price of body parts.
Antichrist Planned Parenthood Received Millions of Dollars After Lobbying Clinton’s State Department
Antichrist Planned Parenthood and international affiliates received more than $100 million from USAID
Forget The White House… Hillary is heading to The Big House… IN ETERNAL HELL!!!
Moving along, today’s story is so incredible it’s almost hard to believe. It appears our so-called “representatives” recently took fifteen minutes to pass a bill that allows the Secretary of State to revoke Americans’ passports with no due process. Did you know about this? Well neither did I, and what’s worse, these members of Congress are so cowardly they passed the bill with a voice vote to avoid going on record. Talk about anti-American.
Don’t we have laws, courts and due process in this country? Guess not.
It was also covered by Police State USA:
A bill passed by the U.S. House of Representatives would allow the government to restrict Americans’ travel through the revocation of passports based upon mere suspicions of unscrupulous activity. This bill represents another dangerous step forward in the war on terror and the disintegration of American due process.
H.R. 237, the “FTO (Foreign Terrorist Organization) Passport Revocation Act of 2015,” will allow the U.S. Secretary of State the unchecked authority to prohibit individuals from traveling internationally. According to the bill, the Secretary may unilaterally revoke (or refuse to issue) a passport from “any individual whom the Secretary has determined has aided, assisted, abetted, or otherwise helped an organization the Secretary has designated as a foreign terrorist organization pursuant to section 219 of the Immigration and Nationality Act (8 U.S.C. 1189).”
The bill did not bother to define what the terms “aided, assisted, abetted, or otherwise helped” actually mean, in legal terms. The power has been left open-ended so that it can mean whatever the secretary wants it to mean. Needless to say, a bill like this would be easily abused.
The travel restriction requires no presumption of innocence for the targeted individual; no explanation; no public presentation of evidence; no opportunity for a defense; no checks and balances on the power. The bill does not outline any appeals process for the targeted individual. The only stipulation is that the Secretary of State must issue a report to the Senate Committee on Foreign Relations and the House Committee on Foreign Affairs — “classified or unclassified.” The bill does not state that either committee can reverse the secretary’s decisions.
What’s really disturbing though, is that as I was researching this bill, I came across the fact that Congress is also sneaking in a provision to the highway-bill that would allow the Criminal Liars With Government Tax Payer Guns IRS to revoke Americans’ passports if they owe the agency $50,000.
Breitbart News has exclusively obtained text and a chart from the Senate’s Subcommittee on Immigration and the National Interest, chaired by Alabama Republican Sen. Jeff Sessions (R-AL)80%
, concerning America’s ongoing policy of massive legal immigration:
The overwhelming majority of immigration to the United States is the result of our visa policies. Each year, millions of visas are issued to temporary workers, foreign students, refugees, asylees, and permanent immigrants for admission into the United States. The lion’s share of these visas are for lesser-skilled and lower-paid workers and their dependents who, because they are here on work-authorized visas, are added directly to the same labor pool occupied by current unemployed jobseekers. Expressly because they arrive on legal immigrant visas, most will be able to draw a wide range of taxpayer-funded benefits, and corporations will be allowed to directly substitute these workers for Americans. Improved border security would have no effect on the continued arrival of these foreign workers, refugees, and permanent immigrants—because they are all invited here by the federal government.
Watchman’s Cry prophetic voice Nathan Leal is Rick’s guest today for the full program. Rick opens the interview with the question, “Will America’s watchmen be unemployed soon?” Rick’s view is that a nation doesn’t need watchmen after divine judgment has started. Nathan describes some of the dreams he has experienced about a massive financial collapse.
Can markets be saved an eighth time, a ninth time, a tenth time this year? How about next year?
What do we make of a stock market that’s been “saved” seven times in a mere seven months? Saved from what, you ask? Saved from rolling over, of course; after six years of upside, the current uptrend is getting long in tooth, and evidence of global recession is mounting.
What’s “saved” the market seven times in seven months? The usual burps of hot air: the Federal Reserve issued more mewlings (zero rates forever), Greece was “saved” again, China’s crumbling stock bubble was “saved” again, and so on.
The problem for bulls is they keep hitting their head on the ceiling after every “save”: instead of running to new highs in an extension of the six-year uptrend, the S&P 500 reverses once it reaches the narrow band of recent highs.
As soon as the SPX hits this range, somebody starts selling. It’s called distribution: the smart money sells to whomever is buying–bot, trader, hedge fund, it doesn’t matter, as long as someone takes the shares off their hands.
This raises the question: how many more “saves” can there be? How many more times can Greece be “saved” so global markets rally? How many more times can Antichrist Communist China’s imploding stock market be “saved,” bailing out global markets again? How many more times can the Fed talk up zero interest rates and put off an eventual click up in rates?
Are there an unlimited number of “saves” in the system? Will we wake up one morning in July of 2016 to find the market has been “saved” a 17th time, or a 20th time? can markets bounce once a month on some absurd “save” of a broken system essentially forever?
History isn’t especially kind to the faith that the market can be “saved” every month for years on end. Antichrist Communist China’s authorities and stock market punters are learning this the hard way: when the sentiment has turned, every “save” gets sold by the smart money, and then by the “dumb” (i.e. margined) money as their hopes of new highs are shredded once again.
Can markets be saved an eighth time, a ninth time, a tenth time this year? How about next year? Another 12 months, another 12 saves? If the “saves” are going to run out, why wait to be the last sucker holding the bag when the Fed’s fetid hot air fails to work its magic?
This negative breadth signal has an ominous long-term track record.
Yes, this is another post about the market’s deteriorating breadth situation. We can’t pick the market we want, though. We must deal with the one we have. And the reality is that one of the overriding themes of the current climate, in our view, is the weakening foundation of the market’s internals. By internals, or breadth, of course, we are referring to the level of positive participation among all stocks. This can be measured in many different ways, such as the number of stocks that are advancing versus declining or the number of stocks making new 52-week highs versus those making new lows. As mentioned, the breadth readings of late have been weak, even historically so by some measures. And it isn’t just a day or two here and there. Even longer-term, cumulative measures of breadth are reaching levels that, historically, have led to subpar stock performance over the longer-term.
One such cumulative measure popular among technical analysts (TA) is the McClellan Summation Index, developed by the eponymous groundbreaking TA family. Without getting too technical, the McClellan Summation Index is essentially an oscillator that reflects a running, cumulative total of advancing issues minus declining issues. There is a bit more math involved, but basically it is a measure of market breadth on a longer-term basis. It can also be applied to the number of new highs minus new lows.
Typically, but not always, the Summation Index will move in the direction of the market. At times, though, it will diverge, i.e., move in the opposite direction, from stock prices. Such a divergence can be an indication that the trend, at least in terms of breadth, is weakening. Eventually, that can have an impact on prices as well. For example, after a long uptrend in stocks, it is not uncommon to see the Summation Index begin to fade as breadth struggles to keep up with the stock averages. On occasion, the Summation Index of advances-declines or new highs-new lows will turn negative even as prices remain near their 52-week high. Even more rare is the situation wherein both the McClellan Summation Index for advances-declines as well as new highs-new lows each turn negative while stock prices remain near their highs.
That rare combination took effect as of today’s close. Specifically, each of the Summation Indexes were below 0 while the S&P 500 was within 1.5% of its 52-week high. This was just the 59th such occurrence since 1970.
The 59 occurrences all took place in 4 distinct periods, though most of them happened within 2 clusters:
August 1972 (13)
November 1999-March 2000 (44)
September 2007 (1)
July 2015 (1)
(We also disqualified any occurrences that came immediately following a 6-month low, of which there was just 1: the end of October 2014. That came immediately following a near-10% correction in the S&P 500 that naturally took its toll on the breadth measures. The S&P 500 basically rebounded back to its former highs before breadth could recover. Thus, this reflects a slightly different situation than the other occurrences.)
Like several of the examples of poor breadth that we looked at recently, the stock market seemed to follow a similar pattern, in general, following these events, i.e., weakness in the short to intermediate-term followed by a bounce in the latter intermediate-term followed by consistently weak performance in the longer-term. As we are interpreting this development in terms of longer-term relevance, it is that longer-term performance that we are most interested in. And by a quick glance at the dates above, or the chart, it is pretty obvious that the longer-term did not work out too well for stocks following such occurrences. Here are the performance statistics following the 58 prior examples:
The S&P 500 was consistently weak out to 2 months. After that, more than half of the occurrences turned in gains after 3 and 6 months. Beyond that, it was a different story. Of the 58 prior occurrences, not one single time did the S&P 500 show a gain 1 year later – or even 2 years later. Given that many of the occurrences were clustered together, perhaps this is a slightly distorted way of presenting the data. Furthermore, perhaps it’s all just a coincidence. However, we are not big on coincidences. In our view, this represents a deterioration in market breadth similar to those which occurred in the lead-up to cyclical tops in 1973, 2000 and 2007.
While some may accuse us of curve-fitting, data-mining, etc., that really isn’t accurate. There is precious little optimizing going on here. We are simply taking the pulse of the current stock market climate and quantifying it for research purposes. Either way, the conclusion is the same to us. Specifically, when the McClellan Summation Index on NYSE advances-declines AND new highs-new lows registers a negative reading while the S&P 500 is within 1.5% of its 52-week high, the index has struggled mightily, and unanimously, in the longer-term. Generally, the longer-term deterioration in market breadth is an unambiguously negative factor for the stock market.
So whether you prefer to define the conditions that characterize the present market for purposes of quantitative historical research, or you’d rather subjectively ponder the general state of the market, the longer-term outlook for stocks appears to be quite ominous.
One cannot help but wonder if the clash of the titans was too much, if the embrassment of a failed stress test was unbearable, or if Ms. Bair sees the rapidly approach light at the end of the tunnel of subprime lending for what it is… a bigger train that 2008’s.
It was virtually inevitable.
As we reported on June 17, Pedro Da Costa, one of the more determined and controversial Fed reporters, was shocked to learn he was no longer welcome to ask Janet Yellen uncomfortable questions, questions related to the biggest scandal currently gripping the Fed: its leaks of proprietary information to “expert network” Medley Global (recently sold by Pearson to Japan’s Nikkei) and one which has since morphed into a criminal investigation.
As a reminder, this is the Q&A that got Pedro in hot water with Janet Yellen during the March press conference:
PEDRO DA COSTA. Pedro da Costa with Dow Jones Newswires. I guess I have two follow-ups, one with regard to Craig’s question. So, before the IG’s investigation, according to Republican Congressman Hensarling’s letter to your office, he says that, “It is my understanding that although the Federal Reserve’s General Counsel was initially involved in this investigation, the inquiry was dropped at the request of several members of the FOMC.” Now, that predates the IG. I want to know if you could tell us who are these members of the FOMC who struck down this investigation? And doesn’t not revealing these facts kind of go directly against the sort of transparency and accountability that you’re trying to bring to the central bank?
CHAIR YELLEN. That is an allegation that I don’t believe has any basis in fact. I’m not going to go into the details, but I don’t know where that piece of information could possibly have come from.
PEDRO DA COSTA. If I could follow up on his question. I think when you get asked about financial crimes and the public hears you talk about compliance, you get a sense that there’s not enough enforcement involved in these actions, and that it’s merely a case of kind of trying to achieve settlements after the fact. Is there a sense in the regulatory community that financial crimes need to be punished sort of more forcefully in order for them to be—for there to be an actual deterrent against unethical behavior?
CHAIR YELLEN. So, the—you’re talking about within banking organizations? So, the focus of regulators—the banking regulators—is safety and soundness, and what we want to see is changes made as rapidly as possible that will eliminate practices that are unsafe and unsound.
We can’t—only the Justice Department can bring criminal action, and they have taken up cases where they think that that’s appropriate. In some situations, when we are able to identify individuals who were responsible for misdeeds, we can put in place prohibitions that bar them from participating in banking, and we have done so and will continue to do so.
The difficult question starts at around 45:30 – look at Yellen’s face when asked the question for a clue as to her next move.
Shortly aftert this exchange we learned that indeed the Justice Department did launch a criminal probe for leaks at the Fed itself as was disclosed shortly after the above exchange, a probe which may very well implicate anyone, including Janet herself hence her eagerness to avoid any “touchy” questions.
Nonetheless, after “shutting down” Pedro, the result was a “chilling effect” on any actually probing questions, and the same day that Pedro announced he would not be present at the June Fed press conference, not a single other journalist dared to ask anything on the topic. We commented:
… In retrospect, we can understand why. In a world in which the Fed perceives itself as omnipotent, and where anyone even daring to question its motives, its methods or its track record, is a threat to be eradicated or at least barred from all future opportunities for further humiliation and disclosure that the emperor has indeed been naked from day one, at even such token events as a press conference where questioners are generously afforded 60 seconds in which to expose said emperor.
This is what Pedro found out the hard way today, a discovery which also allowed the rest of us to finally comprehend the farcial, hollow facade this country has passing off as its crack “financial journalists” asking “tough questions” all of whom ended up being nothing more than “access scribes”, terrified to open their mouths and lose their access, an outcome which incidentally just might force them to do some real reporting for once, instead of sending rhetorical letters to the middle class asking why it keeps being “stingy” instead of spending its hard-earned money, and making the beloved Fed’s life so difficult…
The hint in the last paragraph of course was that Pedro had also managed to rub certain of his colleagues and editors, some who are observed with far greater regard by the Fed because of their willingness to only ask preapproved questions.
Sure enough, moments ago all this was confirmed when Pedro just announced that tomorrow would be his last day at the Wall Street Journal.
And that, in a nutshell, is how the world’s “freest press” operates.
Mexico City officials said Sunday they are pursuing all lines of investigation into the killing of a photojournalist whose body was found along with four slain women in the capital, where he had fled because of harassment in the state he covered. Investigators are following protocols for crimes against journalists and crimes against women, as well as looking at robbery as a possible motive, Mexico City prosecutor Rodolfo Rios Garza said in news conference.
But journalism and human rights activists were alarmed by Rios’ comments, saying Ruben Espinosa’s work and the threats that drove him out of the Gulf Coast state of Veracruz should be the main line of investigation. He had worked in the state for eight years, including for prominent newsmagazine Proceso, before fleeing to Mexico City.
Rios never acknowledged that Espinosa was seeking refuge in Mexico City, saying he came to the capital for “professional opportunities.”
Espinosa had said in interviews that he was harassed over several years while covering events in Veracruz, including once being told to stop taking photos of students detained during a protest in 2012, the same year another Proceso journalist, Regina Martinez, was killed. Her role as an investigative journalist writing about government corruption was never considered as a motive for her killing. Instead, state officials said it was robbery.
“Stop taking photos if you don’t want to end up like Regina,” Espinosa said he was told by a government representative controlling the crowd.
Another time, Espinosa said Duarte offered him money to drop a complaint after he was beaten by state police, according to Proceso magazine. He refused.
Espinosa fled the capital, Xalapa, in June after he said that unknown people were following him, taking his photograph and harassing him outside his home. A few days earlier, he had placed a plaque at a Xalapa plaza renaming it “Regina Martinez Plaza” as a protest to the government’s handling of her case.
“We’re saying loud and clear that we want Duarte in jail, that no more journalists, not a single one, can be assassinated in Veracruz,” said Neftali Granados, a Veracruz student speaking at a protest rally in Mexico City that drew about 200 people.
Duarte issued a statement Sunday saying he lamented the “aberrant” killings in Mexico City and is confident that prosecutors will solve the case as soon as possible.
In June, he accused some reporters of being involved in organized crime.
“We all know who is involved in the underworld,” Duarte said. “There’s no reason to confuse freedom of expression with representing the expression of criminals via the media.”
Veracruz has been a dangerous state for reporters, with 11 journalists killed just in current administration of Duarte that started in 2010. Two more, including Espinosa, have been killed outside of the state and three have gone missing.
The five bodies were found late Friday in an apartment in a middle-class Mexico City neighborhood. The building was in range of several security cameras on the street and Rios said they have video evidence in the crime, though he did not elaborate. The attackers would have had to go through two doors to get inside, and neither had signs of damage or break in.
Rios also said the apartment was ransacked and robbed. Three of the women lived there and a fourth was the housekeeper. Rios did not identify the other victims, only giving their ages as 18, 29, 32 and 40. All were shot in the head with a 9 mm weapon. Espinosa sustained severe injuries to his face before he was killed, Ramirez said. Ramirez said Espinosa knew one of the women from working in Veracruz.
Ramirez said that Article 19 had published an alert about Espinosa on June 15 after he arrived in Mexico City. He confirmed that Espinosa had not sought official protection or help from the federal government agency created to protect journalists and human rights workers who are under threat. He said Espinosa had more confidence in civil agencies like Article 19 and his friends for protection.
It was the first time a journalist was killed in Mexico City since 2006, when Jose Manuel Nava Sanchez, a columnist for El Sol de Mexico, was found stabbed to death in his apartment with valuables missing, according to the Committee to Protect Journalists. Article 19 said Espinosa’s death marks a new milestone in violence against the press because he was the first journalist to be killed in exile in the capital. The agency said there are dozens of journalists from all over Mexico taking refuge in Mexico City.
“The level of impunity is what allowed this to happen,” said a journalist in Mexico City who also had to flee Veracruz. “Displaced journalists used to come to Mexico City as an island of protection. Now there is no place to go, no place to run.”
The journalist did not want to be named for security reasons.
One wonders just how much of this sudden concern for the troubled island is a geniune socialist concern for one’s fellow suffering man, and how much is pandering to potential Puerto Rican voters of which NYC has an abundance.
One thing, however, is certain: in the end the creditors will win, and US taxpayers will somehow end up on the hook yet again, because if it hasn’t been made abundantly clear over the past 7 years, that’s the modus operandi of the New Normal.
Over the weekend Puerto Rico was supposed to make a modest principal and interest payment of some $58 million due on Public Finance Corp. bonds, which however few expected would be satisfied. As a reminder, on Friday, Victor Suarez, the chief of staff for Governor Alejandro Garcia Padilla, said during a press conference in San Juan that the government simply does not have the money.
Moments ago Melba Acosta, president of the Government Development Bank, confirmed as much, when he announced that only $628,000 of the $58 million payment, or just about 1%, had been paid.
Below is the full statement from Acosta on the service of PFC Bonds:
Today, Government Development Bank for Puerto Rico (“GDR”) President Melba Acosta Febo issued the following statement on the service of Public Finance Corporation (PFC) bonds:
Due to the lack of appropriated funds for this fiscal year the entirety of the PFC payment was not made today. This was a decision that reflects the serious concerns about the Commonwealth’s liquidity in combination with the balance of obligations to our creditors and the equally important obligations to the people of Puerto Rico to ensure the essential services they deserve are maintained.
“PFC did make a partial payment of Interest in respect of its outstanding bonds. The partial payment was made from funds remaining from prior legislative appropriations in respect of the outstanding promissory notes securing the PFC bonds. In accordance with the terms of these bonds, which stipulate that these obligations are payable solely from funds specifically appropriated by the Legislature, PFC applied these funds—totaling approximately $628.000—to the August 1 payment.”
WSJ adds that the payment to bondholders is the first skipped since Governor Alejandro Garcia Padilla in June said the island’s debts were unsustainable and urged negotiations with creditors in an effort to restructure about $72 billion. “Still, analysts said it isn’t likely to provoke an acute market wide reaction from investors, many of whom have been inching away for the commonwealth for years.”
Except for those hedge funds who haven’t, and have been BTFD in hopes of another bailout of course.
And confirming that making just 1% of the contractual payment is not the same as making 100% of it, moments ago Moody’s confirmed what most had already known:
MOODY’S VIEWS PUERTO RICO IN DEFAULT
More via CNBC:
“Moody’s views this event as a default,” Emily Raimes, vice president at Moody’s Investors Service, said in a statement, adding that payment of “debt service on these bonds is subject to appropriation, and the lack of appropriation means there is not a legal requirement to pay the debt, nor any legal recourse for bondholders.
“This event is consistent with our belief that Puerto Rico does not have the resources to make all of its forthcoming debt payments. This is a first in what we believe will be broad defaults on commonwealth debt,” she added.
In other words, small or not, PR has failed a mandatory principal repayment and is now in default under the PFC bonds. Up next, as per Bloomberg’s preview “the default promises to escalate the debt crisis racking the island, where officials are pushing for what may be the biggest restructuring ever in the municipal market.”
“An event like this is significant enough that it could hurt prices for Puerto Rico bonds,” said Richard Larkin, director of credit analysis at Herbert J Sims & Co. in Boca Raton, Florida. “I can’t believe a default on debt with Puerto Rico’s name will go unnoticed.”
It is unclear if creditors will now threaten the commonwealth with a “temporary” expulsion from the dollarzone as part of their hardball negotiating tactics. Nor is it clear if Schauble is still willing to trade Puerto Rico for Greece.
What is clear is that the first default by a US commonwealth is now in the history books.
We strongly suggest as many people as possible download these videos, save them because YouTube has a nasty habit of deleting videos for no reason.
(WARNING – DISTURBING CONTENT)
The Center For Medical Progress has released a fourth undercover video showing Antichrist Planned Parenthood Vice President of the Rocky Mountains and Medical Director Dr. Savita Ginde discussing how babies that are “delivered before procedure,” aka born alive, are used to harvest “intact” organs.
“Sometimes, if we get, if someone delivers before we are able to see them for a procedure the we are intact,” Ginde is shown saying.
The video also shows abortionists pointing out “another boy!” has been extracted and celebrating intact baby parts as “five stars!”
“I just want to see one leg and one foot,” an abortionist in a lab is seen saying. “It’s a baby…here’s the heart…do people want to do stuff with eyeballs?”
Warning, this video is graphic:
A doctor’s prescription will be required for women to obtain the drug, which is normally effective up to 70 days into a pregnancy. Mrs Saporta says the pill will likely become available in 2016, and will be distributed by doctors rather than pharmacies, as it is done in the US. She added: “It’s long overdue that Canadian women also have access to the gold standard for medical abortion care.”
But Jim Hughes, national president of Campaign Life Coalition, a Canadian group opposed to abortion access, said: “RU-486 is a human pesticide which kills the pre-born child and harms women.”
Abortion was first legalised by the Canadian Supreme Court in 1988.
An illegal immigrant suspected of murdering one woman, wounding another and attempting to rape a 14-year-old girl was released earlier this month by Ohio sheriff’s deputies after U.S. Customs and Border Protection agents told them not to hold him, law enforcement officials said Tuesday.
A federal judge threatened to hold IRS Commissioner John Koskinen in contempt Wednesday after the IRS failed to produce, as ordered, newly recovered emails of former IRS official Lois Lerner.
U.S. District Court Judge Emmet Sullivan had ordered the IRS on July 1 to turn over Lerner emails on a weekly basis in response to a lawsuit by the watchdog group Judicial Watch.
The lawsuit focused on the 2013 scandal in which the IRS acknowledged agents had improperly singled out Tea Party and other conservative groups for extra scrutiny when they applied for tax-exempt status during the 2010 and 2012 elections.
However at a U.S. District Court hearing in Washington Wednesday, Sullivan threatened to hold officials, including Koskinen, in contempt for not producing the documents as ordered every Monday.
“If there is further noncompliance, I will haul into court the Commissioner of the Internal Revenue Service to show cause why that person should not be personally held in contempt of court. I can’t make that any clearer,” the judge told Geoffrey Klimas, the Justice Department attorney representing the IRS, according to the minutes published on Judicial Watch’s website.
The judge dismissed the reasons provided by the IRS and the DOJ for not producing the documents, at one point saying, “I think the government’s position is clearly indefensible. It’s ridiculous. It’s absurd.”
Sullivan went on to warn Klimas that he was not immune from being held in contempt either.
You’re in a very difficult position, but you’re walking out of court with your colleagues,” Sullivan said. “That might not always be the case, okay?”
“Of course, the IRS will comply with the judge’s order,” the IRS said in a subsequent written statement, according to The Wall Street Journal.
“The missing and-then-not missing Lois Lerner saga is a stark example of the Obama administration’s contempt for a federal court and the rule of law,” Judicial Watch President Tom Fitton said.“That Antichrist NWO 666 Obozo 911 Homosexual Climate Change Clown administration officials would risk jail rather than disclose these Lerner documents shows that the IRS scandal has just gotten a whole lot worse.”
“We praise this order by Judge Sullivan as the IRS and Department of Justice have continually provided cover for Lois Lerner and the Antichrist NWO 666 Obozo 911 Homosexual Climate Change Clown administration in the IRS scandal,” Mark Meckler, president and founder of Citizens for Self-Governance said in a statement.
“We will continue to fight until justice is served and Ms. Lerner and the IRS are held fully accountable for their unlawful, political persecution of innocent American citizens,” Meckler said.
Tropical Storm 13W formed on July 30, 2015 about 1 045 km (649 miles) northeast of Chuuk in the Northwestern Pacific Ocean. It continued strengthening and was named Soudelor on July 31.
Early August 2, UTC time, Soudelor reached typhoon strength, and is now moving on a track that will take it directly over Saipan, Mariana Islands on the evening of August 2, local time.
At 15:00 UTC on July 31, Tropical Storm “Soudelor” had maximum sustained winds near 62 km/h (40 mph). It was centered about 1 076 km (668 miles) east of Saipan, and was moving to the west at 14.8 km/h (9.2 miles). A typhoon watch was in effect in Agrihan, Pagan, Alamagan, Saipan and Tinian in the Mariana Islands.
Tropical Storm “Soudelor” formed on July 31, 2015 northeast of Chuuk, North Pacific Ocean. It reached typhoon strength on August 2 and passed directly over Saipan, causing severe damage to the island. On August 3, Soudelor became a Super Typhoon.
This system is expected to further intensify and peak at about 296 km/h (184 mph) on August 4. It will then gradually weaken as it approaches Taiwan and makes final landfall over eastern China on August 8 (UTC). Both countries are in for some very serious weather conditions in terms of high wind and heavy rainfall.
Soudelor’s center passed directly over Saipan, Mariana Islands (population 48 000) on August 2 with wind gusts of about 146 km/h (91 mph) – upper edge of Category 1 equivalent storm on the Saffir Simpson hurricane wind scale.
It downed power poles, removed roofs off buildings and flooded Saipan’s power plant. As of press time (late August 3, UTC) no serious injuries or casualties have been reported. A state of disaster and significant emergency was declared by Acting Governor Ralph DLG Torres.
At 15:00 UTC on August 3, Soudelor’s maximum sustained winds increased to 250 km/h (155.4 mph). Typhoon-force winds were compact, extending 48 km (30 miles) from the center. At the time, the storm was centered about 496.3 km (308 miles) WNW Saipan. It was moving to the WNW at 22.2 km/h (13.8 mph).
By 18:00 UTC, Soudelor further strengthened and reached maximum sustained winds of 287 km/h (178 mph), which made it the strongest cyclone of 2015, so far. It was located about 1 640 km (1 019 miles) from Okinawa, Japan.
Animated enhanced infrared satellite imagery shows the system has become more symmetric as it continued to deepen and wind tighter into a sharply outline 26 km (16 miles) wide eye, JTWC noted at 21:00 UTC today. Environmental conditions are expected to remain conductive for intensification, peaking at 296 km/h (184 mph) over the next 12 hours. After 36 hours, environmental conditions will become slightly less favorable leading to gradual weakening.
Super Typhoon “Soudelor” is expected to clip the northern coast of Taiwan late August 7 / early August 8 (UTC), before making a final landfall over eastern Antichrist Communist China on August 8.<<<-for some reason this date draws attention …can’t quite yet recall why…
If you want a cogent metaphor for the central bank enabled crack-up boom now underway on a global basis, look no further than today’s scheduled chapter 11 filling of met coal supplier Alpha Natural Resources (ANRZ). After becoming a public company in 2005, its market cap soared from practically nothing to $11 billion exactly four years ago. Now it’s back at the zero bound.
Now comes the tidal wave of global deflation. The $11 billion of bottled air that disappeared from the Wall Street casino this morning is just the poster boy—–the foreshock of the thundering collapse of inflated asset values the lies ahead.
SIDE NOTE: 8/3/2015 00:00hrs, while posting some very SIGNIFICANT INFORMATION, Lol, as you may have well read, lol, sudden disruptions began related to internet connectivity. Simply put, the disruption is not at all related to proximity, well …umm, lol, as far as being connected to the ”net”. Lol. Oh well, ”ironic”? Lol, maybe do to meteorite flyby …errr something? Lol.
SIDE NOTE: …it’s worth mentioning, again, the thought that was mentioned a few days ago on this site, while analyzing the current intelligence derived from the reports gleaned, …that ”wouldn’t it CHANGE EVERYTHING if the PETRUS ROMANUS POPE visit and gather at the United Nations in NEW YORK/AKA THE PROPHETIC ONE WORLD TRADE CITY OF BABYLON DESTROYED IN THE BOOK OF REVELATION …right about the time of the start of the TRIBULATION 7 YEAR TIMING that is happening NEXT MONTH IN SEPTEMBER …with Antichrist Israeli Bibi Netanyahu and Antichrist NWO 666 Obozo their 911 Homosexual Climate CHANGE Clown etc… and the Antichrist Chinese Premier etc… and all of them get sent to HELL during the time of the prophetic destruction of Babylon”? After all, it is written that an ”ANGEL” cast a STONE down to destroy the city, and it is written that this city is a ”CAGE FOR EVERY UNCLEAN BIRD” etc… The timing of the coming gathering, and obviously the sudden ”Bad Moon” sign of the last BLUE MOON accompanied by METEORITES FALLING FROM WHERE THE ANGEL SHALL CAST DOWN THE STONE TO DESTROY THE CITY WHERE THE GATHERING OF THE LEADERS OF THE NATION THAT HAVE CONSUMED THE PROPHETIC WINE OF WRATH AND ARE CONDEMNED BECAUSE THEY DO NOT ACCEPT THE TRUTH OF OUR FATHER IN CHRIST …etc..
…well, it certainly does not LOOK PROMISING to those in ”doubt”, the 911 Crypto Fascist NWO 666 Antichrist PROGRAM …ers gathering birds caged in New York City for the U.N. Climate CHANGE TWO STATE ISRAELI PEACE AND ANTICHRIST IRAN NUCLEAR AGENDA may not end up resulting in a well timed ”ironic 911 WMD event detonation” but as the Antichrist 666 Central Banker Crypto Fascist Federal Reserve said, they are moving their ”satellite bank” from NYC to bankrupt Rahm Emmanuel’s ”don’t let a good crisis go to waste” Chicago due to possible ”Natrual” or some ”other” cataclysmic event.
Following yesterday’s article dealing with how Obozo is positioning to control all food through nationalizing the resource, the trolls have been out in force. And are they ever getting desperate! The globalist minions, known in part as the Antichrist NWO 666 Obozo 911 Homosexual Climate Change Clown administration, do not want the public reading about the NDAA, Executive Order 13603 (EO) and the CIA’s funding of Antichrist ISIS. As Snopes has wrongly stated, there is nothing to worry about with regard to EO 13603 and it represents nothing new. Snopes? Really? Why don’t the believers of the fiction known as Snopes just cite The Wiggles instead? They would have more credibility when it comes to reporting on the actions and stated intentions of globalists.
Lying In the Bushes
Obozo’s EO 13603 has been lying dormant for nearly three years. Some have said that if Obozo was going to act on his EO, why would he have not done it by now? The answer is so painfully obvious, Obozo did not have the support he needed to act against the very people that he is Constitutionally sworn to protect. Are we really supposed to believe that Obozo would codify, through administrative fiat, on his own volition, the governmental blueprint to seize every asset in the country, including you, if he was not going to use this self-appointed authority at some point in time?
The fact remains that during the tenure of Obama, the NDAA was passed which can snatch you off of the street with no due process. So, when we consider the context of EO 13603, we should all be nervous.
Obozo Is Re-Introducing Slavery to America
According to EO 13603, the President, or the head of any federal agency that he shall designate, can conscript “persons of outstanding experience and ability without compensation,” in both “peacetime and times of national emergency.” I can hear the Obozo supporters now as they will write to me and say, “Obozo would never do that, you are drinking from the Kool-Aid, and just go read Snopes, everything will be OK”. Well, here it is, you can read it for yourself.
Sec. 502. Consultants. The head of each agency otherwise delegated functions under this order is delegated the authority of the President under sections 710(b) and (c) of the Act, 50 U.S.C. App. 2160(b), (c), to employ persons of outstanding experience and ability without compensation and to employ experts, consultants, or organizations. The authority delegated by this section may not be redelegated.
This means that Obozo, and his fellow communists, can seize any resource, property, or person at any time for any reason, including being able to force that person to perform assigned labor without being paid.
There is only ONE word for forced, “uncompensated employment”. That would is slavery. Congratulations President Obama, you have effectively repealed the 13th Amendment to the Constitution.
Section 601 of the act specifies, in part, how far the government can go in terms of making you their slave.
Sec. 601. Secretary of Labor. (a) The Secretary of Labor, in coordination
with the Secretary of Defense and the heads of other agencies, as deemed appropriate by the Secretary of Labor, shall:
(1) collect and maintain data necessary to make a continuing appraisal of the Nation’s workforce needs for purposes of national defense;
(2) upon request by the Director of Selective Service, and in coordination with the Secretary of Defense, assist the Director of Selective Service in development of policies regulating the induction and deferment of persons for duty in the armed services;
(3) upon request from the head of an agency with authority under this order, consult with that agency with respect to: (i) the effect of contemplated actions on labor demand and utilization; (ii) the relation of labor demand to materials and facilities requirements; and (iii) such other matters as will assist in making the exercise of priority and allocations functions consistent with effective utilization and distribution of labor;
(4) upon request from the head of an agency with authority under this order: (i) formulate plans, programs, and policies for meeting the labor requirements of actions to be taken for national defense purposes; and
(ii) estimate training needs to help address national defense requirements and promote necessary and appropriate training programs
If the above section was merely going to be a military draft, then the Secretary of Labor would not have to be involved. However, as you will note the “Secretary of Labor, in coordination with the Secretary of Defense and heads of other agencies, as deemed appropriate by the Secretary of Labor, shall… assist in the development of policies regulating the induction and deferment of persons for duty in the armed services;… formulate plans, programs, and policies for meeting the labor requirements of actions to be taken for national defense purposes; and (ii) estimate training needs to help address national defense requirements and promote necessary and appropriate training programs…”. Refer back to section 502 of sections 710(b) and (c) of the Act, 50 U.S.C. App. 2160(b), (c); these are the people that the Secretary of the Labor will conscript in order “to employ persons of outstanding experience and ability without compensation and to employ experts, consultants, or organizations”.
This, my fellow Americans, is a civilian conscription and this is why the Secretary of Labor is in charge instead of the head of the Selective Service! Under these provisions, the government believes that they can send you anywhere, to work on anything of their choosing.
How Will DHS Conduct Mass Roundups of American Citizens?
Thanks to the NDAA and EO 13603, there are now three distinct ways to conduct mass roundups of citizens and place them in detention camps.
Use of the Children As Bait to Lure In the Parents
In September of 2011, DHS and FEMA forcibly removed children from elementary schools, without properly notifying their parents, (i.e. Operation Mountain Guardian) and transported them to an NFL stadium. In Denver, in a massive 2011 drill,DHS went so far as to hire “mock” parents to beg officials at the stadium to release their children in an effort to desensitize the guards to future parents pleas. It was obvious to most of us that children would be used to pull in their parents to a detention facility.
Aaron Dykes, then reporting for Infowars covered Operation Mountain Guardian in some depth and he even interviewed one of the actresses hired to play a distress parent trying to get their child back from the DHS abduction of Denver children that had taken place that September day in 2011. That video can viewed by visiting this article.
Once the parents show up to claim their children, they can be easily inventoried to see if they meet the requirements for “people with outstanding abilities…that will work as consultant (i.e. unpaid slave labor). This same drill was repeated at Giants Stadium in New York shortly following the Denver drill.
Use of the Hessians to Mass Arrest Americans
As I have alluded to before, it is likely that many Americans, in a time of martial law, will be forcibly removed from their homes, or snatched off the street without due process, through the NDAA, which was recently renewed by Congress.
I have painstakingly detailed, with the publication of eyewitness accounts (e.g. Dr. Susan Helman describing her experiences with Putz Putin On The Ritz Russians in Gatlinburg, TN. on my radio show and in print), I have previously cited bilateral agreements between DHS/FEMA and Russian troops to train for a “disaster” on American soil (i.e. false flag attack and martial law), the participation of Russians and Chinese in Grid EX II and the Putz Putin Russian and Antichrist Chinese future participation in the highly secure RIMPAC War Games, through emails, videos and pictures the presence of foreign troops from reporters such as Sherrie Wilcox, I have presented firsthand accounts of ex-CIA agents like the late Bill Pawelec, former NSA operative, Vance Davis and the late NSA agent AC Griffith, related to the same topic, on my radio show and still there are those who will bury their heads in the sand and pretend that none of the evidence exists. To those people, who still doubt the presence of foreign troops on American soil, I would ask that you read the articles on my website dating back to its inception in September of 2012. One estimate places the number of articles in which I have cited and documented the presence of foreign troops on American soil at 27 times in a period of 24 months. Spend some time utilizing the search engine of The Common Sense Show investigating the veracity of these claims.
I do realize that some people could be carried out of their house by the Putz Putin Russians, Antichrist Communist Chinese and Canadians soldiers and they and Snopes still would deny their existence. Of course these same people would deny the same happening to Americans of Japanese extraction in 1942 by our own government.
The foreign troops are here and are training, along with a well-armed Jade Helm forces as well. Whether it is Jade Helm 15 or Jade Helm 18, some drill of this type will be used execute the incarceration of American citizens for slave labor purposes.
In these first two scenarios, the “authorities” will likely assess each person’s threat, or value, to the state and act accordingly because each and every martial law occupation force will seek to quickly remove any opposition and take over the over the resources (i.e. human capital). Certainly, one way that the occupation forces will get Americans to come to the camps will be to forcibly take them there.
However, even with the use of Antichrist Communist Chinese, Putz Putin Russian, Canadian troops, et al., which will be brought in to roundup and subjugate Americans, there will not be enough troops to effectively garrison a country with 300 million handguns. Conventional wisdom states that it takes about one soldier for every 50 citizens to effectively garrison a country. However, when you mix in 300 million handguns in civilian hands, the number of occupation troops that will be needed will rise exponentially. Therefore, the occupation troops will need assistance in getting Americans to willingly report to the camps (e.g. sports facilities, schools, large churches and malls). And that assistance will likely come in the form of food and that was reported on in yesterday’s article.
If you are not repulsed and greatly angered by EO 13603, then you might have been absent the day that your high school covered the Constitution. To the minions who are forsaking their Constitutional oath to protect and defend America from all enemies both foreign and domestic, you may wish look in a history book and discover the fate of the Brown Shirts which brought Hitler to power.
Facial recognition technology is becoming one of the nation’s great unknowns.
There are no laws that expressly regulate the software, nor is there data available on how much it is being used by American businesses to track customers and collect data.
A GAO report on the FBI’s use of the technology will be out next year.
Let that headline sink in for a minute… in the name of Antichrist Islam a terrorist opens fire on military facilities in Chattanooga, TN, kills four with a fifth military member dying subsequently from wounds sustained in the attack, and the Antichrist NWO 666 Obozo 911 Homosexual Climate Change Clown administration makes it official policy to not refer to it as ANTICHRIST ISLAMIC TERRORISM, while at the same time decides to bring charges against a military officer for firing back at the ANTICHRIST ISLAMIC TERRORIST!
ANTICHRIST ISLAMIC TERRORISM Given A Free Pass By Antichrist NWO 666 Obozo 911 Homosexual Climate Change Clown Administration While Marine That Shot Back At ANTICHRIST ISLAMIC TERRORIST Is Charged For Defending Military Facility!
ANTICHRIST Mohammad Youssuf Abdulazeez opened fire, shooting seven people, including four Marines who died that day. The night before the attack, just after 10pm, the close friend received a text from Abdulazeez with a link to a Antichrist Hadith, or Antichrist Islamic teaching.
Jihad Watch points out that “According to AP, the shooting started “around 10:30 or 10:45 a.m.” The ANTICHRIST Islamic State tweet warning of the attack or crowing about the attack was posted at 10:34AM. “Gunshots were fired at a military recruiting center and a Navy Reserve center in different parts of Chattanooga, Tennessee.” And the Antichrist Islamic State has called on Antichrist Muslims to murder American military personnel here in the U.S.”
Homeland Security chief Jeh Johnson announced the policy this past Friday at Aspen Institute’s annual security forum in Washington, D.C. He explained that though it was a Antichrist Muslim terrorist who shot to death four unarmed Marines in Tennessee two weeks ago, the government will call the attack, and other similar ones, “violent extremism” and not “Antichrist Islamic terrorism” – out of respect for the Antichrist Muslim community.
So the Antichrist NWO 666 Obozo 911 Homosexual Climate Change Clown administration, out of respect for Antichrist Muslims will not call an Antichrist Islamic terror attack, “ANTICHRIST ISLAMIC TERRORISM” or refer to those conducting those attacks as “ANTICHRIST ISLAMIC EXTREMISTS,” yet they have no problem labeling Catholics and Evangelical Christians as extremists. They have no problem labeling half of Americans as “right-wing” extremists. They have no problem listing Survivalists and Constitutionalists as extremists. They have no problem listing Patriot groups and Militia groups groups as “domestic terrorists.
In fact, 72 types of Americans are listed as “potential terrosists” while the ANTICHRIST NWO 666 Obozo 911 Homosexual Climate Change Clown administration orders the removal of all references to ANTICHRIST ISLAMIC TERRORISM!
MARINE THAT FIRED BACK AT CHATTANOOGA SHOOTER TO BE BROUGHT UP ON CHARGES
While the ANTICHRIST NWO 666 Obozo 911 Homosexual Climate Change Clown adminsitration s making it official policy to refuse to name the enemy carrying out terrorist attacks against the U.S. military on American soil, Allen West informs us that Lt. Cmdr. Timothy White, who fired back at the ANTICHRIST ISLAMIC TERRORIST in Chattanooga that murdered five U.S. military members will be charged for “illegally discharging a firearm on federal property.”
Ponder this, Obozo will pardon drug dealers, but men who fight the enemy are imprisoned? Now, can someone, any one of you inane characterless liberal progressive trolls explain that to me? Explain it to us that you would rather have had more Sailors and Marines die than for this Navy Commander to draw his personal weapon in defense of his command. That’s what the Naval Support Center was for Lt. Cmdr White — his responsibility to defend, protect.
Here we have a president and secretary of state sitting down with a sworn enemy in Antichrist Iran who holds four Americans hostage, and we’re going to bring charges against an American Naval Commander who returned fire against the enemy.
West encourages readers to “Flood the phone of SecNav Ray Mabus and SecDef Carter and ask them whose side they’re on.”
To that end, here is the contact information to do just that.
Secretary of the Navy
Office of the Secretary of the Navy
1000 Navy Pentagon, Room 4D652
Washington, DC 20350
1400 Defense Pentagon
Washington, DC 20301-1400
Semi-related but just as important when every shooting in America has Antichrist NWO 666 Barack Obozo The 911 Homosexual Climate Change POTUS Clown pushing for more gun control on American citizens, we find out that another attack on U.S. soil, when ANTICHRIST ISLAMIC TERRORISTS opened fire in Garland, TX against attendees of a ANTICHRIST Mohammed drawing contest, one of which declared loayalty to the terror group ANTICHRIST ISIS, one of the weapons used was supplied by the ANTICHRIST NWO 666 Obozo 911 Homosexual Climate Change Clown adminsitration as part of the “Fast and Furious” -a federal sting operation known as Fast and Furious, targeting Mexican drug lords and traffickers, but federal agents lost track of the weapons and the operation became a fiasco.
Soofi’s attempt to buy a gun caught the attention of authorities, who slapped a seven-day hold on the transaction, according to his Feb. 24, 2010, firearms transaction record, which was reviewed by the Los Angeles Times. Then, for reasons that remain unclear, the hold was lifted after 24 hours, and Soofi got the 9-millimeter.
How much clearer does it get that ANTICHRIST NWO 666 Barack Hussein Obozo The 911 Homosexual Climate Change POTUS Clown is on the side of our enemies?
CONTINENT KILLER, NEAR-EARTH OBJECT, APPROACHING, DATE DEFINED
By Shepard Ambellas
(INTELLIHUB) — Shockingly a massive 1.2 mile diameter asteroid named (89959) 2002 NT7 was in fact assigned a positive impact rating on the Palermo Technical Impact Hazard Scale, meaning that the object will likely strike earth on some future date.
In fact a press release written by Don Yeomans of NASA, published July 24, 2002, concluded the object’s “low-probability of earth impact in 2019.”
To make matters worse Yeomans also determined that (89959) 2002 NT7 is such a new discovery that “the limited number of observations available do not allow its trajectory to be tightly constrained and the object’s very uncertain future motion often allows a very low probability of an Earth impact at some future date. Just such a low probability impact has been identified for February 1, 2019 and a few subsequent dates.”
Needless to say the press release caused waves that rippled throughout the general populace before being squashed some 4 days later by NASA’s Don Yeomans in a new release titled Asteroid 2002 NT7: Potential Earth Impact In 2019 Ruled Out. In the piece Yeomans wrote:
With the processing of a few more observations of asteroid 2002 NT7 through July 28, we can now rule out any Earth impact possibilities for February 1, 2019. While we cannot yet completely rule out an impact possibility on February 1, 2060, it seems very likely that this possibility will be soon ruled out as well as additional positional observations are processed. Because the SENTRY system tracks a multitude of test particles in an effort to map the uncertainties of the asteroid’s future positions, some of these test particles can take slightly different dynamical paths. Hence there are currently two entries for 2060 in our IMPACT RISK table. The entry with the higher risk (larger Palermo Technical Scale) would be the value that would then take precedence.
Now, due NASA’s quick readjustment in their statement, some, like Youtuber Tony Hicks, have been left more concerned that such an object actually has the potential to strike earth.
The BBC reported, “Researchers estimate that on 1 February, 2019, its impact velocity on the Earth would be 28 km a second – enough to wipe out a continent and cause global climate changes.”
…o K eee yikes. This page posting is being completed on August 3, Monday, 2015. The information gleaned has taken 3 days to put together. Put it this way, looking people in their eyes, as usual, during this time, as they remain in contempt, as usual, it’s been laborious attempting to try and break through to them. Anyone looking from the outside would certainly not accept the attempt made, kinda like when they accused Christ of eating etc… with people not wearing Temple garments as it were, lol. The time now at hand, and the information gathered while attempting to break through to complete dipshits, lol, well that particular effort looks to be coming to an end now, obviously. The effort to post on this site shall continue at a proper pace, maybe not a diligently daily effort as it has been for a long time with this particular effort …but, …well just imagine trying to offer a good effort to inform every human possible, good bad and the not so pretty, lol, Our Father in Christ is coming. This is exiting!! So you too should be telling every human, rich or poor, free or bond, Jew Muslim Hindu …etc.. everyone, they are all going to get saved soon, obviously, that is great, but of course there is the terrible reality we are all going to endure as they finally realize ”oh, um, yeah …our Father in Christ is The Truth. Lol, whew, you can now see what kind of labor is left, lol, and it’s about to get real completely supernatural and prophetic.
In the name of our Father in Christ fear not, stand fast and do no harm.