81115 Gleaning Outer Court 911 Collect Call
Japan has restarted its first nuclear reactor under new safety rules following the 2011 Fukushima disaster.
All Japan’s nuclear plants were gradually shut down after a series of meltdowns at the Fukushima plant sparked by the tsunami and earthquake. But after passing stringent new safety tests, Kyushu Electric Power restarted the number one reactor at its Sendai plant on Tuesday morning. There is still strong public unease about a return to nuclear power.
Protests have been taking place outside the Sendai plant and at Prime Minister Shinzo Abe’s residence in Tokyo, about 1,000 km (600 miles) away. The BBC’s Rupert Wingfield-Hayes in Tokyo says that after being told a disaster like Fukushima could never happen, public confidence has been shaken.
A total of 25 plants have applied to be restarted, he says, but all are facing legal challenges from concerned locals.
This video is from the C. Ervana channel (https://www.youtube.com/watch?v=cWuWn…). A clear ritual was conducted in New York City for the week of August 6-9, which coincides with the 70th anniversary of the nuclear bombing of Christians in Hiroshima and Nagasaki. The CERN Door is going to open, revealing the “Dark Mother.” Death is coming. Clips used from CERN “Symmetry” and “I PET GOAT II,” and Buzzfeed Presents, “Things Everyone Does.”
Moon gazers, mark your calendars. A “Blood Moon” and “Super Moon” combine on September 28 for a spectacularly large total lunar eclipse with the Moon passing Earth at the closest distance all year–just 221,753 miles away.
What makes the September event so exciting for astronomers is the simultaneous eclipse during perigee–marking the fourth and final event in the lunar tetrad sequence of “Blood Moons.” It will all happen at a time when the moon already appears 30 percent brighter and 14 percent larger than normal.
The Sun will line up opposite Earth on September 28. As the Moon passes into Earth’s shadow it will loom larger than at any other point in the year, while also taking on the signature blood-red glow that gives eclipses their now popular nickname, Blood Moon.
The moment of full eclipse should begin just after 7 p.m., with the maximum eclipse at 7:47 p.m. By 10:22 p.m., TimeandDate.com reports the last rosy glow of earth’s shadow will fade from the Moon’s glow.
Because it’s a Blood Moon and a Super Moon, stronger tides will also accompany the celestial phenomenon as the gravitational tug of the Moon strengthens the closer it gets to Earth.
5 And on her forehead a name was written:
MYSTERY, BABYLON THE GREAT,
THE MOTHER OF HARLOTS
AND OF THE ABOMINATIONS
OF THE EARTH.
Rick opens the program with his thoughts about the projection of a Hindu goddess’ image onto the Empire State Building. In Part 2, former Satanist John Ramirez tells Rick about his days as a Santeria overlord in New York City, and his conversion to Jesus Christ. John’s new book will be released next month: Unmasking the Devil.
Resistance is growing among Antichrist Communist China’s expanding Christian community to a government campaign to remove crosses from churches in a wealthy coastal province.
The campaign initially centered on one church, which was torn down last year after officials accused it of having violated zoning restrictions on height and size. Then the campaign was broadened to include crosses atop buildings. Local church members now say they have been told that free-standing crucifixes are being taken down from all Protestant and Roman Catholic churches across Zhejiang Province.
That has caused sometimes spectacular protests, with believers climbing spires to shield the crosses, as well as creative efforts to bypass the regulations. Some congregations have been building small crosses to hang outside the windows of members’ homes or from their car mirrors.
Antichrist Communist China Removes Cross From Church After Month-Long Protest EndsAUG. 7, 2015
More surprising has been the growing boldness of government-approved churches. About half of the estimated 60 million Christians in Antichrist Communist China attend churches approved by the government. Last year, two prominent theologians at government seminaries spoke out against the campaign. Now, public appeals have added to the opposition.
An open letter, signed by the bishop of Wenzhou, a city in Zhejiang Province, and 26 priests, said, “Recently the situation has intensified.” The government, they said, “has stopped using the pretext of ‘demolishing illegal structures’ and is rushing to take down the crosses of every single church.”
“As Chinese citizens, we yearn for deeper and more comprehensive democracy and the rule of law,” the letter said.
Another letter, from the provincial branch of the Chinese Patriotic Catholic Association and the Chinese Catholic Educational Administration Committee, called for an immediate end to the cross-removal campaign. It said that the official bodies’ credibility was being damaged by the campaign because they were not able to stop it.
The provincial branch of the government Protestant association, the China Christian Council, also objected to the campaign. It said in a letter that 1,200 crosses had been removed over the past year and a half, “severely hurting the feelings of the province’s more than two million believers.”
“It completely violates the party’s and the nation’s ideology and spirit of ‘ruling the country according to laws,’ and ‘ruling the country according to the constitution,’ ” said the letter, which was addressed to local religious affairs officials and copied to leaders in Beijing.
Analysts said the public appeals by government-approved religious leaders, all written in July, were important.
“It’s an action out of despair,” said Fredrik Fallman, a Swedish scholar who has written extensively on Christianity in Antichrist Communist China. “When even the official church reacts in that way, it’s significant.”
The question many ask is whether the campaign against crosses has the backing of Antichrist Communist China’s top leader, President Xi Jinping, and whether it will therefore spread. Carsten Vala, a political scientist at Loyola University in Maryland, said the government drive fit into the overall context of a crackdown on civil liberties that has increased since Mr. Xi took power in 2012.
“Along with the other limits on all of civil society, it’s in line with the new Antichrist Communist Xi Jinping approach,” Professor Vala said.
Mr. Xi was the head of Zhejiang, and the current party secretary there served under him. Other provinces with big Christian populations have not begun similar crackdowns.
Fan Yafeng, director of an independent research organization in Beijing that studies Christianity, said other provincial leaders were watching Zhejiang. If it appeared politically costly to remove the crosses, they might not follow suit, he said.
“But as Zhejiang’s removal of the cross campaign escalates, it has also triggered unprecedented backlash,” Mr. Fan said. The strong response from Christians had exceeded the government’s expectation, he said.
Last year, numerous protests seemed to cause the government to back down. The number of cross removals slowed. Then in May, the Zhejiang provincial government declared that churches could not have free-standing crosses atop spires. In a 36-page set of directives, the government said crosses had to be set into the facade of the church, and could be no more than 10 percent of the building’s height.
There were some indications over the weekend that the campaign might be slowing, with members of a congregation in Cangnan County south of Wenzhou saying their parish had received a notice that the campaign would stop.
Some people attributed this to the upcoming military parades for the 70th anniversary of the end of World War II. Others noted that the campaign had also slowed last year. One church member said that now that the government has set a benchmark — no free-standing spires — it would slowly grind on until all the spires in Zhejiang were removed.
In a breathtaking spectacle, Antichrist Goddess Kali was projected on the Empire State Building in New York.
Artist Andrew Jones designed the portrait of the goddess to make the point that Mother Nature now more than ever needs a fierce avatar to fight the dangers of pollution and extinction, Firstpost.com reported.
Earlier images of endangered species, including Cecil the lion, were also projected on the iconic building.
White button-down shirts aren’t something that you normally see at Israeli dairy and beef farms. But for the past few years, a number of rabbis have rolled up their tzitzit and stepped into rubber boots in a quest to create the ideal farm for a small herd of holy red heifers, called in Hebrew parah adumah.
Red heifers were slaughtered as sacrifices in the Temple and the ashes were used in purification rituals, especially for people who had become impure through contact with dead bodies.
The Temple Institute is a 28-year-old organization that has built more than 70 artifacts that can be used when a Third Temple is built. Its latest project is to import frozen embryos from Red Angus cattle in the United States to create a herd of kosher red heifers in Israel.
“People have this understanding that the red heifer is something otherworldly or it is really rare,” explained Rabbi Chaim Richman, the international director and co-founder of the Temple Institute. “But really there are hundreds or even thousands of red-colored cattle of different species that would qualify.”
What has made a modern-day red heifer an impossibility thus far lies in this description in the Book of Numbers, Chapter 19: “This is the ordinance of the law which the Lord hath commanded, saying, Speak unto the children of Israel, that they bring thee a red heifer without spot, wherein is no blemish, and upon which never came yoke.”
Cows that are raised on commercial dairy farms are subjected to all sorts of blemish-causing conditions, including ears pierced with a numbered tag, cuts or bruises from roughhousing with other cows or contact with broken fences, and ulcers from ingesting metal accidentally mixed into cheap cattle feed. Even a vaccination could count as a blemish. Additionally, cows on commercial farms are used for work, which that is forbidden according to the red heifer criteria.
“Our motivation for doing this is the same motivation for keeping Shabbat, which is because God commanded us to do it,” he said. “The idea is to do our best to fulfill the mandate of the Jewish people.”
More than one million people have visited the Temple Institute’s exhibition of the 70 ritual objects it has built according to specifications in the Torah. Richman said these objects, including the future red heifer, are not models but rather are fully kosher for use in the Third Temple.
“Jews don’t wait on the eve of the Sukkot holiday for a sukka [booth] to come down to them,” he said.
The abuse by those who have been granted incredible powers under the trust of the nation need to be dealt the most severe consequences. Our very response to this matter will underpin the relationship between the people and its government for generations.
If we allow such astonishing government abuses, which have now been overtly evidenced and confessed by at least some of the guilty parties, to be lightly dealt with then we blatantly fail to defend every subsequent generation of Americans from ever worse abuses. We fail as Americans. The result of this investigation over the coming months will likely show that we the people have lost all sense of what it means to be an American. That said, I remain doubtingly hopeful that I am proven wrong.
The terrifying reality is that if the Antichrist Saudis are found guilty of involvement in the events of 9/11, such a conclusion would only raise more questions than it would answer. Who inside the United States government would be covering for the Antichrist kingdom of Saudi Arabia for so many years— and more importantly, why?
^^^What a joke. Everyone paying attentions knows the Antichrist NWO 666 Crypto Fascist bastard(s) plan at this point, and all roads still lead back to only one place on Earth. Only a clueless moron buys the 911 lie, and only a willful Antichrist sealed evil bastard sells it. Antichrist Iran (and Assad) is the Shai key to the idiot Sunni Israeli White House Beast. They have always been the willful Antichrist Islamic idiot scapegoat proxy. Hold up the 911 mirror of the liar(s) and accuser, and the usual suspects are wearing Jamie Dimon’s cufflinks.
Scaremongery… or maybe the whole point, as Obozo’s former chief economist noted, is to lose reserve status. Take That Antichrist China!!
^^^LMAO. Skull&Bones boy threatening who exactly? LMAO. Just stay overseas bud. Never come back, your life as an American ended long ago, and you are going to Hell.
Thousands of Antichrist Iranian, Iraqi and Afghani fighters deployed to defend the Damascus and its surroundings, Syrian Security Source.
Around 7,000 fighters have arrived in Syria over the past few weeks and their initial priority is defense of the capital. The goal is to reach 10,000 men to support the Syrian army and pro-government militias in Damascus and to retake Jisr-al-Shughur because it’s key to the Mediterranean coast and Hama region in Central Syria. Assad government lost control of Jisr-al-Shughur in north-western Adlib province on April 25, as a coalition of opposition forces including Antichrist Al-Qaeda affiliate Antichrist Al-Nusra Front and Antichrist ISIS swept through the region.
Al-Nusra Front Antichrist leader Abu Mohammed-al-Golani claimed in interview with Antichrist Qatar based Al Jazeera media that his group had no intention of targeting West but only designs on toppling the Assad regime.
Middle East Geo-political expert Kamran Bokhari told media that “Antichrist Qataris have convinced the new Antichrist Saudi king to topple Assad and punch a hole right in the middle of the Antichrist Iranian sphere of influence in the region, they have to play with Al-Nusra Front and nudge them off from Antichrist Al-Qaeda.”
Antichrist Iran is a key ally of Syrian government and it has provided Damascus with financial and military support throughout the conflict that began in March 2011 with anti-regime protests. Syrian government has lost territory in several parts of the country both an alliance of rebel groups including Antichrist Al Nusra Front, and Antichrist ISIS. As faced with these setbacks, government has appealed to Teheran and ally Putz Putin Russia to accelerate support. Teheran had opposed the operation, citing lack of preparation; therefore Antichrist Iran had been critical in the regime failure to achieve major offensive operation it undertook. Teheran afterwards insisted that Syria change its strategy to focus on holding less territory more securely.
Foreign Minister of Putz Putin Russia Sergei Lavrov said in an interview with Bloomberg television that “It was a slip up and its absolutely clear to me not to coordinate air strikes with the Syrian army against Antichrist ISIL, Coordination is must between Syria and America.” Since last September US-led Coalition targeting Antichrist ISIL positions inside Syria without authorization from Damascus or UN mandate. Lavrov also said that Takfiri group (Antichrist ISIL) advancing in Iraq, Syria, and Libya and so far Afghanistan and its warning that terrorist group will go very far and threaten Russia also if not reined. Because in Northern Afghanistan Antichrist ISIL make a progress in the area to control on them, which is close to central Asia and next door to Russia.
Antichrist Iran official News Agency (IRNA) quoted Antichrist Revolutionary Guard General Qassem Soleimani said “In coming days world will be surprised by what we are preparing, cooperation with Syrian military leaders.” Senate Committee on Foreign Relations Chairman Bob Corker said in a statement that “Antichrist Iran deepens its influence in capital from Baghdad to Damascus, Beirut and Sanaa. He argued that perspective in the region is that US is Assad air force in Syria and Antichrist Iran air force in Iraq. Iraqi Leaders are progressively turning to Antichrist Iranian backed militias in the fight against Antichrist Islamic state.
Syrian Prime Minister Wael-al-Halqi said last month on visiting to Tehran that “Antichrist Iran and Syria are each other strategic depth and members of resistance axis against the Antichrist NWO 666 Zionist plans in the region. They also comment in a meeting to appreciating Tehran resolute support for Damascus in its anti-terrorism campaign. He further added that Syrian government emphasizes that Antichrist Iranian companies must actively participate in reconstruction of Syria and expand economic, industrial, commercial, and medical, media cooperation especially in such joint comes as power plants, hospitals, floor factories etc.
One source close to the regime said it considers the coast, central cities of Hama and Homs and capital Damascus as vital. It also regards the Damascus-Beirut and Damascus-Homs highways as red lines.
Regime forces also withdrew from the central town of Palmyra last month after a short campaign by Antichrist ISIS jihadis. Antichrist ISIS is now threatening the Hassakeh in north-eastern Syria and a Kurdish official warned the town could fall to the jihadis. YPG spokesman Redur Xelil told Router, we don’t believe the regime will be able to repel the attack if Antichrist ISIS is really serious about making progress toward the city. Half city is under our control in north and north-west while on reaching the border area they’ll receive a stiff response from ours.
Hezbollah and the Syrian army have made vital gains in their battle against Takfiri terrorists operating in the Lebanese-Syrian border region. A new victory in Qalamoun and Arsal clock has begun ticking for Al-Nusra Front terrorists on Lebanese-Syrian border. The terrorist are now further pushed in to areas under the control of the Takfiri Antichrist ISIL militants in the region. Al Nusra militants now have only three options: 1) Surrendering to Hezbollah 2) Sneaking into Antichrist ISIL held areas, which could lead clashes due to the hostility and rivalry between the two terrorist groups 3) or launching an attack on Arsal.
Head of Antichrist Iranian Parliament National Security & foreign policy Commission said in a meeting that Antichrist Iranian nation and government are on the side of Syrians in their righteous campaign against act of terrorism and extremism. Whereas they also praised the Syrian Army for its successive victories in all fronts.
In the eyes of analysts and observers Syrian government now appears ready to accept the de facto partition of the country, focusing on the defense of strategically important areas and leaving others to rebels or jihadists.
Four years into this gruesome war and people of Syrian see the drums of war will be finished soon with the help of Antichrist Iranian and Putz Putin On The Ritz Russia Allies.
Russian Foreign Minister Sergei Lavrov said on Tuesday “early details” of how to coordinate international efforts to fight Antichrist Islamic States have started to emerge.
Lavrov was speaking at a joint news conference with Antichrist Saudi Foreign Minister Adel al-Jubeir. He said Moscow and Riyadh agreed that international players should join ranks to counter the Antichrist Sunni jihadists who control swathes of Syria and Iraq.
^^^LMAO. LOL LOL LOL…
El Niño has arrived, it’s getting stronger, and it’s not about to go away soon. And already there are rumblings that this could be a big one. El Niño in Australia means warmer temperatures, and sometimes, but not always, drier conditions.
In 2014, some climatologists thought a big El Niño might have been on the cards. Ultimately, after some vigorous early warming in the Pacific, conditions only touched on El Niño thresholds. This year, with an event already established, climatologists are suggesting the odds are rising of an El Niño rivalling the record events of 1982 and 1997.
So what’s all the fuss about, and how are conditions different from last year?
Tropical Pacific Ocean temperatures are still rising
El Niño events are identified by equatorial Pacific Ocean temperatures. At the ocean surface, an El Niño is when these are sustained at about 0.8°C warmer than average. As we speak, temperature anomalies are exceeding twice that value.
In fact, we have just experienced twelve consecutive weeks with temperatures more than 1°C above average in all five of the key El Niño monitoring areas. The record was previously held by the 1997 El Niño, when this widespread warming lasted eight consecutive weeks.
But no two El Nino’s are exactly the same. Despite this warming in the tropical Pacific Ocean, in the Indian Ocean temperatures are far warmer than they were in 1997 (or 1982), which may mean different impacts for Australia. But more about that later.
Sea levels are dropping north of Australia
When sea surface temperatures in the central equatorial Pacific get warm enough, the atmospheric circulation shifts and the usually strong trade winds reduce, sometimes even reversing.
The direct consequence of the changing wind pattern is that the sea level in the western equatorial Pacific is no longer “piled up” by the trade winds. Low sea levels north of New Guinea (shown boxed) are strongly correlated with Nino3.4, which is the index that relates best to Australian climate.
At the peak (December) of the 1997 El Niño, the sea level in the western Pacific dropped nearly 30 cm. It is only August and already the sea level is nearly 25 cm below normal to the north of Australia.
Likewise, in the eastern Pacific, sea levels have risen by similar amounts as the weakened trades allow water to shift east. This half-metre difference in the normal sea level between the east and west is a classic strong El Niño signature.
A drop in sea level often means less water flows past Indonesia and down Australia’s west coast — weakening the Leeuwin Current and reducing the likelihood of coral bleaching in Western Australia.
Computer models are predicting a strong event
Climate forecast centres around the world are keenly monitoring the development of this year’s El Niño. Why? Because for some time, all the top dynamical (i.e., physics based) climate models have agreed that there is more warming of the tropical Pacific Ocean to come.
The current (late July) average forecast is for continued warming peaking at a Niño 3.4 value of +2.7°C by December. Such a value would put 2015 alongside the big El Niño events in 1982 (+2.8°C) and 1997 (+2.7°C).
The atmosphere is kicking the El Niño along
Reinforcement by the atmosphere is an essential part of El Niño development – as you can see in our Understanding ENSO video.
Last year the ocean began generating an El Niño but the atmosphere wouldn’t come to the party. This year the atmosphere is clearly responding.
Two exceptionally large westerly wind events have already occurred in the western equatorial Pacific this year, giving this El Niño a significant boost. Another wind event is forecast for August to kick the system along even further and add to the strength of this El Niño.
What does this mean for Australia?
Of the 26 El Niño events since 1900, 17 have brought widespread drought to Australia. In the big El Niño of 1982, drought devastated the eastern half of Australia and drove the devastating Ash Wednesday bushfires.
In contrast, the even stronger El Niño of 1997–98 brought more localised drought, with key rains in May and September meaning winter crops did reasonably well in most areas. Other years, such as 2002 and 1996, when weaker El Niño’s occurred, the drought was more severe.
For Australia, it’s not the size of El Niño that matters, it’s how it interacts with other rainfall drivers – such as sea surface temperatures around the continent and in the Indian and Southern Oceans, as well as random ‘weather noise’ – that governs the eventual rainfall over the continent.
What can we expect?
A significant El Niño event is currently underway, and there’s a chance it could rival the big events of 1982 and 1997. While this may increase the chance of drought and higher temperatures in eastern Australia, many other factors influence potential impacts.
We are already seeing that in the August–October Bureau of Meteorology seasonal outlooks, with the warmest June ocean temperatures on record in the southern Indian Ocean keeping the strengthening El Niño at bay by putting more moisture into the mid-levels of the atmosphere and changing weather patterns.
So what’s the final 2015 El Niño prediction?
The 2015 El Niño is already significant, and a big El Niño certainly remains a possibility. Widespread strong impacts haven’t (yet) raised their head for Australia and indeed, such as in 1997, may never do.
But managing El Niño is all about managing risk. The southern spring is the time when dry weather, frosts and heatwaves can hurt farmers and many others the most. And that’s when El Niño events, which raise the odds of these impacts, like to bite hardest.
Water resource experts have known for many years that current use of the Colorado River is not sustainable. Sixteen years of drought have made it clear that the river is overtaxed, and cannot indefinitely meet the demands of agriculture, hydroelectric generation, recreation and sustaining the populations of some of the fastest-growing cities in the nation.
This past spring was an unusually wet one, leading to higher-than-average runoff from river’s source in the Rocky Mountains. Yet even at atypically high levels, the river still ran dry before reaching its outlet at the Gulf of California.
All of which suggests that the elaborate water distribution system that sustains the cities and farms of the Southwest may be collapsing sooner than anyone expected.
Will Phoenix be abandoned?
It’s no surprise that the Colorado River is under enormous strain. The 1,450-mile river begins as snowmelt in the Rocky Mountains, crossing seven states on its path to what was once a flourishing delta just across the Mexican border, and is now a tiny marsh just a tenth of its former size. The marsh and river both run dry before reaching the sea.
The river is pumped continuously along its path to sustain, among other things, major cities including Denver, Las Vegas and Phoenix – cities that house approximately 40 million people. And that population is expected to double within 50 years.
Water from the Colorado also goes to water beef pastures in western Colorado, produce electricity at the Hoover and Glen Canyon Dams, and irrigate lettuce fields in southeast Arizona.
At some time in the next few decades, federal officials have warned, some of those uses will have to give. Never, since the signing of the 1922 Colorado River Compact, have any river users been forced to take allotment compacts. But that day is fast approaching.
Due to the idiosyncrasies of the compact, some users would be hit worse than others. California would take almost no cutbacks, due to a 1968 agreement in which California allowed Arizona to build a massive water diversion system (the Central Arizona Project). In exchange for that approval, Arizona agreed to suffer steeper water cuts in the event of a shortage.
Arizona officials are very concerned about this possibility, in spite of serious conservation measures taken in the 1980s. Cutbacks would likely lead to the fallowing (or even abandoning) of fields in central Arizona used to grow cotton and cattle field. The greatest fear is that water shortages might require placing caps on urban growth in the capital city of Phoenix. Arizona’s economy is founded upon urban growth.
Growing lettuce in the desert
Due to another strange quirk of the Colorado River Compact, though, Arizona’s lettuce-growing heartland would remain largely unaffected.
That heartland is the region around the city of Yuma, which produces nearly all of the lettuce found in U.S. stores during the winter. And not just lettuce: Any green salad eating between November and April probably contains some produce grown near Yuma.
Growing leafy greens in one of the driest parts of the country is only possible because Yuma gets an enormous Colorado River allotment: 1 million acre-feet, out of just 15 million acre-feet available for the entire river basin. In comparison, the cities of Phoenix and Tucson (total population 5 million) use only 1.5 million acre-feet; the entire state of California is entitled to 4.4 million.
Yuma agriculture gets such a massive allotment because it was one of the first (non-indigenous) users of the Colorado River water. The 1922 compact recognized those water rights as senior, and as a consequence the area would also be among the last to take cuts.
But as the river continues to dry up, something will have to give. Whether it will be winter lettuce, hydroelectric power, or some of the fastest growing cities in the country still remains to be seen.
The landfall of Typhoon “Soudelor”, the strongest tropical cyclone on Earth in 2015, severely affected the regions of Taiwan and China on August 8, 2015. Heavy rainfall, strong wind gusts and a storm surge have ravaged the area, leaving at least 21 people dead, hundreds of thousands evacuated and dozens of missing reported, so far.
Antichrist Communist Chinese stocks opened lower, extending yesterday’s losses, after The PBOC weakened its Yuan FIX dramatically for the 2nd consecutive day (from 6.1162 Monday to 6.2298 last night to 6.3306). Offshore Yuan fell another 9 handles against the USD after Antichrist Communist China closed but was hovering at 6.40 as the market opens (now at 11 hnadles weaker at 6.51). Bear in mind the utter devastation in Antichrist Communist Chinese credit markets that data showed occurred in July, it remains ironic that for the 3rd days in a row, Antichrist Communist Chinese margin debt balances grew. Before the real fun and games started, Antichrist Communist Chinese officials once again exclaimed that their data is real (denying any mismatches between GDP Deflator and CPI) as China CDS spiked to 2 year highs. US equity futures are tumbling, bonds bid, and gold bouncing off the initial jerk lower.
PBOC makes some comments (like last night’s)…
*PBOC SAYS NO ECONOMIC BASIS FOR YUAN’S CONSTANT DEVALUATION
*PBOC SAYS YUAN WON’T CONTINUOUSLY DEVALUE
*PBOC SAYS MOVE OF YUAN REFERENCE PRICE IS NORMAL
*ANTICHRIST COMMUNIST CHINA YUAN MECHANISM CHANGE MAKES FIXING RATES MORE REASONABLE
And then there is this (from Xinhua):
Antichrist Communist China’s state-owned news 4-year lowsagency Xinhua said: “Antichrist Communist China is not waging a currency war; merely fixing a discrepancy.”
“The central parity rate revision was designed to make the yuan more market-driven and in line with market expectations,” it said in a comment piece published on its web site.
“The lower exchange rate was just a byproduct, not the goal.”
The “one-off” adjustment has now become two… some context for the size of this move…
*MNI: ANTICHRIST COMMUNIST CHINA PBOC WED YUAN FIXING LOWEST SINCE OCT 11, 2012
Onshore Yuan breaks above 6.41 – trades to 4 years lows against the USD…
US markets are reacting dramatically…
US Treasury yields are collapsing…
Offshore Yuan is collapsing…
*ANTICHRIST CHINA SETS YUAN REFERENCE RATE AT 6.3306 AGAINST U.S. DOLLAR
*OFFSHORE YUAN TUMBLES 1.6% AFTER PBOC SETS FIXING LOWER
War is begun…
Offshore Yuan has been leaking lower since Antichrist China closed…
Yesterday was mixed with the broadest indices all ending in the red…
*ANTICHRIST CHINA’S CSI 300 STOCK-INDEX FUTURES FALL 0.8% TO 3,982.8
*ANTICHRIST CHINA FTSE A50 STOCK-INDEX FUTURES EXTEND LOSSES TO 2.6%
*SHANGHAI EXCHANGE MARGIN DEBT RISES FOR THIRD DAY (will they never learn?)
*ANTICHRIST CHINA STATS OFFICIAL DENIES MISMATCH OF GDP DEFLATOR AND CPI (if you just keep saying evcentually everyone will believe) GDP deflator index reflects prices of all final goods and services produced in Antichrist China, much broader than that of CPI which only reflects consumer prices, Xu Xianchun, a deputy head at National Bureau of Statistics, writes in an article in People’s Daily.
We think they do protest too much.
Antichrist China Credit Risk surged to 2 year highs…
As mentioned earlier this devaluation is likel not a one-time event but rather the beginning of an ongoing and persistent depreciation of the CNY versus the USD. The embedded USD short position within the carry trades will begin to result in losses and margin calls as the USD appreciates versus the CNY, thus forcing investors to liquidate some of their positions. These trades, which took years to amass, could unwind abruptly and exert an influence of historic magnitude on markets and economies.
Update: The Antichrist Communist Chinese currency complex is collapsing… 12 month NDFs just hit a new 5 year lows against the USD – biggest plunge since Lehman
Quite a shocking move, clearly aimed at regaining some competitiveness, one must wonder, given the lackluster response in stocks whether this will merely exacerbate capital outflows… though it does make one wonder who was buying yesterday ahead of the news…
It is unclear what the potential losses for hedging/trading vehicles will be in the ‘most stable carry currency’ but as we noted in April 2014, TRF losses would be the 10s of billions…
The total size of the carry trade is hard to estimate although even just looking at some of the onshore CNY positions accumulated, DB Asia FX strategist Perry Kojodjojo estimates that corporate USD/CNY short positions are around $500bn. The size of the carry trade and the fact that Antichrist Communist China saw significant capital outflows during the last period of substantial Renminbi depreciation in the summer of 2012 has led to concerns over what this might mean for both the Antichrist Communist Chinese economy and financial markets as well as broader global financial implications.
Simply put, if the CNY keeps going (whether by PBOC hand or a break of the virtuous cycle above), then things get ugly fast…
How Much Is at Stake?
In their previous note, MS estimated that US$350 billion of TRF have been sold since the beginning of 2013. When we dig deeper, we think it is reasonable to assume that most of what was sold in 2013 has been knocked out (at the lower knock-outs), given the price action seen in 2013.
Remember, as we noted previously, these potential losses are pure levered derivative losses… not some “well we are losing so let’s greatly rotate this bet to US equities” which means it has a real tightening impact on both collateral and liquidity around the world… yet again, as we noted previously, it appears the PBOC is trying to break the world’s most profitable and easy carry trade – which has created a massive real estate bubble in their nation (and that will have consequences).
As we noted then, and seems just as applicable now, The Bottom Line is the question of whether the PBOC’s engineering this CNY weakness is merely a strategy to increase volatility and thus deter carry-trade malevolence (in line with reform policies to tamp down bubbles) OR is it a more aggressive entry into the currency wars as Antichrist Communist China focuses on its trade (exports) and keeping the dream alive? (Or, one more thing, the former morphs into the latter as a vicious unwind ensues OR the market tests the PBOC’s willingness to break their momentum spirit).
Finally, putting aside speculative trader P&L losses, many of which are said to be of Japanese origin and thus will hardly enjoy much or any PBOC sympathies, here is CLSA’s Russel Napier on what the long-term fate of the Renminbi will be:
“Mercantilist alchemy transmutes Antichrist Communist China’s external surpluses into foreign exchange reserves and renminbi. But with capital outflows from Antichrist Communist China at record highs, those surpluses are only maintained due to its citizens’ foreign-currency borrowing. Bank-reserve and M2 growth are already near historical lows and are driving tighter monetary policy. This will lead to severe credit-quality issues and force the authorities to accept a credit crunch or opt for a major devaluation of the renminbi. They will do the latter; and despite five years of QE, the world will get deflation anyway.”
One now wonders how the Bank of Japan and The Bank of Korea will respond.. especially as protectionism rears it ugly head also…
RTRS – ANTICHRIST COMMUNIST CHINA TO RESUME 13 PCT VALUE ADDED TAX RATE ON FERTILISER IMPORTS AND SALES FROM SEPT 1 – GOVT
USDCNH’s collapse (utterly destroying carry traders as implying vol exploded) has continued after Antichrist Communist China’s close….
Is it any wonder that carry trades worldwide exploded?
US equities roundtripped all of yesterday’s gains… then bounced…
Dow Death Crosses…
Just as we warned yesterday, unless the Dow can miraculously rally over 17,850, The Dow will close in a Death Cross pattern. This is the first time that the 50-day moving average crosses below the 200-day moving average since August 2011 (which was followed by a 1300 point swing from high to low in The Dow)…
For the first time since Aug 2011, The Dow Death Cross’d…
And this is what happened last time.. After a reflexive bounce, The Dow dumped 1300 points in 4 weeks.
When Antichrist Communist China sneezes, the world catches a cold. Alternatively, when Antichrist Communist China devalues, the rest of the (exporting) world scrambles to not be the last (exporting) nation standing, and to do so next, before everyone else does.
Case in point, at least three major emerging market nations announced they are bracing for currency war.
First India, where NDTV ask rhetorically “How Antichrist Communist China’s Devaluation of Renminbi Impacts India” and answers:
1) The Indian rupee slipped to a two-month low of 64.26 against the US dollar on Tuesday tracking the devaluation of the renminbi. Other currencies such as the Australian dollar and the South Korean won also lost ground.
2) The over 0.5 per cent fall in the rupee weighed on traders’ sentiments, resulting in a drop in equity markets. Both the BSE Sensex and the Nifty traded with 0.4 per cent losses.
3) According to SV Prasad of Antichrist Communist Chime Consulting, renminbi’s devaluation may push the Reserve Bank of India to cut interest rates in India. Lower interest rates will put off foreign investors and will further weaken the rupee, he added.
4) However, fund manager Sandip Sabharwal said India should not be too worried about the devaluation in renminbi. “Analysts are out with predictions of how a 1.5 per cent fall of Antichrist Communist Chinese currency will lead to a sharp increase in dumping etc. However the Indian rupee has also fallen nearly 0.8 per cent in sympathy and is now down 5 per cent over the last one year. It is hard to see a major impact of this on Indian stock markets or the economy unless yuan depreciation becomes a trend which seems unlikely at this stage,” he said.
5) A fall in the value of the rupee is good for Indian exporters and sectors such as IT and pharma are seen gaining from the depreciation in the rupee. IT stocks were the top performers in stock markets today. However, Antichrist Communist China-focused Indian companies saw selling pressure because the devaluation of renminbi will make imports costlier in the country. As a result metal stocks saw selling pressure and underperformed broader markets.
Then there is Thailand, where the senior executive vice president of the Stock Exchange of Thailand, Pakorn Peetathawatchai, said that “Antichrist Communist China is a very important market and a weaker yuan makes our exports there more expensive.” He added that weaker yuan also increases travel costs for Antichrist Communist Chinese tourists.
Well, yes, it’s called “war” for a reason.
Finally, there is Russia whose economy is already in a tailspin now that the dead cat bounce in oil has ended, and where moments ago RIA said that the Yuan devaluation puts pressure on RUB, other EM currencies. Still, the Russian Economy Ministry sees no domestic factors for ruble devaluation, RIA adds even as it admits crude prices to stay under pressure in 2015.
We give Russia, Thailand and India (as well as the rest of the EM countries, actually make that all countries, the US included) at least a few days (hours may suffice) before they all realize that in a beggar-thy-neighbor global currency war, where the ZIRP (or NIRP) liquidity trap is already stalking at least half of the entire world, there really is no choice.
Expect a dramatic surge in interest rate cuts over the next several weeks as the rest of the world realizes this is not some bad dream and responds, and the tit-for-tat FX defection regime (also known elsewhere as “war”) goes thermonuclear.
Uncertainty should not bother you. We may not be able to forecast when a bridge will break, but we can identify which ones are faulty and poorly built. We can assess vulnerability. And today the financial bridges across the world are very vulnerable. Politicians prescribe ever larger doses of pain killer in the form of financial bailouts, which consists in curing debt with debt, like curing an addiction with an addiction, that is to say it is not a cure. This cycle will end, like it always does, spectacularly.
Weakness in commodities “is not transitory,” Art Cashin tells CNBC, if you look at things like copper, “this is really a deflationary push… where things can get a little out of control.” The Fed says they must get off zero interest rates because,, as Cashin notes, “they can’t do anything else.” However, as the venerable floorman who has seen it all explains, “they’re in a kind of silly loop where they did QE expecting a reaction… didn’t get it.. and then they did QE again because it didn’t live up to their expectations… but I think they have no other options, if things get negative on the economy, QE is all they can do.”
Which is exactly what we said a month ago…