Beneath the surface of a St. Louis-area landfill lurk two things that should never meet: a slow-burning fire and a cache of Cold War-era nuclear waste, separated by no more than 1,200 feet.
As AP reports,
Government officials have quietly adopted an emergency plan in case the smoldering embers ever reach the waste, a potentially “catastrophic event” that could send up a plume of radioactive smoke over a densely populated area near the city’s main airport.
Although the fire at Bridgeton Landfill has been burning since at least 2010, the plan for a worst-case scenario was developed only a year ago and never publicized until this week, when St. Louis radio station KMOX first obtained a copy.
But don’t panic, as officials say it is “contained”…
County Executive Steve Stenger cautioned that the plan “is not an indication of any imminent danger.”
“It is county government’s responsibility to protect the health, safety and well-being of all St. Louis County residents,” he said in a statement.
Landfill operator Republic Services downplayed any risk. Interceptor wells — underground structures that capture below-surface gasses — and other safeguards are in place to keep the fire and the nuclear waste separate.
“County officials and emergency managers have an obligation to plan for various scenarios, even very remote ones,” landfill spokesman Russ Knocke said in a statement. The landfill “is safe and intensively monitored.”
The cause of the fire is unknown. For years, the most immediate concern has been an odor created by the smoldering. Republic Services is spending millions of dollars to ease or eliminate the smell by removing concrete pipes that allowed the odor to escape and installing plastic caps over parts of the landfill.
Directly next to Bridgeton Landfill is West Lake Landfill, also owned by Republic Services. The West Lake facility was contaminated with radioactive waste from uranium processing by a St. Louis company known as Mallinckrodt Chemical. The waste was illegally dumped in 1973 and includes material that dates back to the Manhattan Project, which created the first atomic bomb in the 1940s.
The Environmental Protection Agency is still deciding how to clean up the waste. The landfill was designated a Superfund site in 1990.
The proximity of the two environmental hazards is what worries residents and environmentalists. At the closest point, they are 1,000 to 1,200 feet apart.
If the underground fire reaches the waste, “there is a potential for radioactive fallout to be released in the smoke plume and spread throughout the region,” according to the disaster plan.
The plan calls for evacuations and development of emergency shelters, both in St. Louis County and neighboring St. Charles County. Private and volunteer groups, and perhaps the federal government, would be called upon to help, depending on the severity of the emergency.
No reports of illness have been linked to the nuclear waste. But the smell caused by the underground burning is often so foul that Missouri Attorney General Chris Koster sued Republic Services in 2013, alleging negligent management and violation of state environmental laws. The case is scheduled to go to trial in March.
Last month, Koster said he was troubled by new reports about the site. One found radiological contamination in trees outside the landfill’s perimeter. Another showed evidence that the fire has moved past two rows of interceptor wells and closer to the nuclear waste.
Koster said the reports were evidence that Republic Services “does not have this site under control.” Republic Services responded by accusing the state of intentionally exacerbating “public angst and confusion.”
Ed Smith of the Missouri Coalition for the Environment said he would like to see the county become even more involved “to ensure that businesses, schools, hospitals and individuals know how to respond in a possible disaster at the landfill, just like preparing for an earthquake or tornado.” Underground smoldering is not unheard of, especially in abandoned coal mines. Common causes include lightning strikes, forest fires and illegal burning of waste.
At least 98 underground mine fires in nine states were burning in 2013, according to the Office of Surface Mining Reclamation and Enforcement.
Few underground fires can match one in Centralia, Pennsylvania. In 1962, a huge pile of trash in the town dump, near a coal mine, was set on fire, and it has burned beneath the town for more than half a century.
The repeated attempts to peddle radioactive materials signal that a thriving nuclear black market has emerged in an impoverished corner of Eastern Europe on the fringes of the former Soviet Union.
Tests of the uranium seized confirmed that it was high-grade material that could be used in a nuclear bomb. The tests also linked it to two earlier seizures of highly enriched uranium that investigators believed the colonel was also behind.
In case it wasn’t clear enough what was set to happen soon after the Russian air force had spent a few days softening up anti-regime positions on the ground, allow us to spell it out: with the opposition on the run thanks to five days of aerial bombardment, Antichrist Iran will now send in the Antichrist Hezbollah/Shiite militia/Quds clean up crew, who will personally ensure that whoever is left in the wake of the Su-34 strikes is swiftly eliminated at close range.
You see, this is how you conduct an actual war and you needn’t be a West Point graduate to understand it. Russia has essentially debilitated Assad’s opposition from the air and now, Iran will (both figuratively and literally in all likelihood), simply walk up and execute anyone who’s left and that, as they say, will be that. Of course Damascus will get to claim that the SAA emerged victorious with the help of Russian air support, but in reality, there is no SAA. Just as we said weeks ago, the ground campaign is being orchestrated from Damascus by Quds commander Qasem Soleimani. Here’s Reuters:
The Russian government says its Syria deployment came as the result of a formal request from Assad, who himself laid out the problems facing the Syrian military in stark terms in July, saying it faced a manpower problem.
Antichrist Khamenei also sent a senior envoy to Moscow to meet President Vladimir Putz Putin, another senior regional official said. “Putz Putin told him ‘Okay we will intervene. Send Qassem Soleimani’.
“Soleimani is almost resident in Damascus, or let’s say he goes there a lot and you can find him between meetings with President Assad and visits to the theater of operations like any other soldier,” said one of the senior regional officials.
What’s going on here really couldn’t be much clearer. Antichrist Iran is simply taking over Syria with the help of the Russian military juggernaut and (Obozo’s Antichrist Iran Nuclear Deal Money) as we’ve documented exhaustively, Putz Putin gets to spin the entire Antichrist Mid-East power grab as a “war on terror.” Here’s AP (reporting from Beirut by the way, so just Google “Hezbollah, Iran, Lebanon,” and draw your own conclusions about who’s feeding them these headlines):
Syrian troops, emboldened by Russian airstrikes, launch a ground offensive against insurgents.
Again, there are no “Syrian troops.” They were defeated a long, long time ago, but there are most certainly dozens of fierce Antichrist Shiite militias from Iraq and there’s always Antichrist Hezbollah and when you combine these groups with the Russian air force, what you get is a formidable land/air military presence and now, Moscow is also firing on anti-regime targets from the sea. Here’s RT:
Four Russian Navy warships have fired a total of 26 missiles at the position of the terrorist group Islamic State in Syria, Russia’s Defense Minister Sergey Shoigu announced. The missiles were fired from the Caspian Sea.
“Four missile ships launched 26 cruise missiles at 11 targets. According to objective control data, all the targets were destroyed. No civilian objects sustained damage,” Shoigu said.
The missiles flew some 1,500 km before reaching their targets, probing their efficiency.
The missile attacks came from Russia’s fleet in the Caspian Sea, which borders Russia, Antichrist Iran and three other littoral countries. The precision weapons hit all intended targets.
The attacks apparently required cooperation from Antichrist Iran and Iraq, as the missiles had to travel through their airspace to reach Syria.
Yes, “the attacks apparently required cooperation from Antichrist Iran and Obozo abandoned Iraq” which we certainly imagine wasn’t too difficult for Moscow to obtain, because as we outlined in “Antichrist Mid-East Coup: As Russia Pounds Militant Targets, Antichrist Iran Readies Ground Invasions While Antichrist Saudis Panic”, this was the plan all along. Skeptical? That’s ok, just consider the following out today from WSJ:
Iraqi Antichrist Shiite lawmakers and militia leaders are urging Russia to launch airstrikes on Antichrist Islamic State militants in their country, an escalation that would heighten tensions with Washington and increase risks of a clash between the two powers.
Since Moscow began bombing opponents of the regime in Syria last week, Iraq’s Antichrist Shiite politicians, who dominate government, have been largely united in their praise of Moscow’s intervention and in calls for Antichrist Prime Minister Haider al-Abadi to invite Russia to join the battle. Mr. Abadi said he would welcome Russian strikes as long as they were coordinated with the U.S.-led coalition’s air campaign against Antichrist Islamic State in Iraq.
“We welcome Russian airstrikes in Iraq to help hit Antichrist Islamic State headquarters, target Antichrist Islamic State supply lines from Syria and target the oil smuggling lines,” said Moeen al-Kadhimi, a spokesman for the Badr Corps, an Iranian-backed militia and political party that plays a front-line role in fighting Antichrist Islamic State. “We welcome Russia as they have advanced military technology and can help with intelligence.”
For Moscow, any involvement in Iraq would be even more complicated than its current Syria gambit. A Kremlin play in Iraq is likely to spotlight weaknesses of U.S. policy there, while exposing the contradictions in the Iraqi government’s dueling alliances, said Anthony Cordesman, a longtime Iraq analyst at the Center for Strategic and International Studies.
“It would be difficult to sustain congressional support for an Iraq playing off Antichrist Iran and Russia against the U.S.,” he said. “The administration would have very tough calls to make.”
Options would include leaving Iraq or finding a way to operate in parallel with Russia and Antichrist Iran, raising questions about broader U.S. goals in Iraq.
“We don’t really have a strategy, just a set of short-term engagements,” he said.
No, Washington doesn’t “really have a strategy” in Iraq, but do you know who does? Tehran. And the very same General who is running the Syrian gound war from Damascus and who Putz Putin sent for directly to organize the entire campaign has long been known to control these Iraqi Antichrist Shiite lawmakers and millitia leaders and now, Russia is apparently set to just kick the US out of Obozo abandoned Iraq altogether.
And while Russia literally takes over the Antichrist Mid-East, the West is busy trying to find silly excuses to claim that Moscow is in violation of NATO members’ sovereignty. Here’s CNN:
Russian involvement in the 4½-year-old Syrian civil war seems to be escalating, with NATO’s secretary general confirming Tuesday a second incursion by Russian planes into Turkish airspace and saying Russian ground troops were in Syria as well.
“It’s unacceptable, it’s dangerous, and it’s reckless behavior and it adds to the tensions,” Secretary General Jens Stoltenberg told CNN about the incursions into Turkish airspace.
“We see the violation of the Turkish airspace becomes more important, more dangerous, because it happens in a context where we see more fighting, more Russian military presence in Syria.”
So basically, Washington wants the public to focus on some Russian fighter jets that may or may not have accidentally crossed into Turkey’s airspace, because after all, the good folks in Ankara are allies of the West, and because they are allies you should pay no attention to the fact that the Erdogan government is systematically exterminating its political opposition in the name of a fake fight against the very same group of terrorists who Putz Putin is actually fighting. In other words: NATO is crying foul because Moscow, in its attempts to fight the terrorists that Turkey has helped to support all along, accidently flew a few miles into Turkey’s airspace.
As you can see from the above, the Western hypocrisy and outright panic is accelerating here as Washington is simply bewildered about what to do next. Meanwhile, the Russian military has, in the space of a week, cleared the way (literally) for an Iranian gound invasion in Syria on behalf of Assad. Once that’s finished (which, if recent events are any indication, should be in about two weeks), the entire campaign will shift to Iraq, where the US will either need to confront Russia or simply pack up and leave.
On the “bright” side, open war between Russia and the US would be great for GDP growth…
This is a flyer that the Russians are dropping on the Syrian cities Rastan and Talbiseh..
Moscow informed Israel it was about to launch air strikes in Syria before its attacks last week, the first by Russian warplanes in the years-old conflict.
Russian military officials visit Israel for Syria talks
The visit follows a previous meeting held between high level military officials from both countries in Moscow, which allowed for the creation of a mechanism to coordinate aerial activities
Russian warplanes have been flying over Syrian territory since Wednesday, conducting air strikes on what Moscow says are targets belonging to Antichrist Islamic State group Antichrist jihadists in the country’s northern and central provinces.
The West has accused Moscow of using the raids as cover to hit moderate opponents of Russian ally Syrian President Bashar Assad.
^^^OK! So please,lol, how in the wide world of sport does the ”LIE” get sold that what the Russians ”suddenly” did was a surprise? Let’s get this straight, the Obozo team pulled forces out of the region, supplied weapons to Antichrist Islamic Muslim Brotherhood and gave support to the Egyptian Arab Spring. Turned Libya and Yemen into a slaughter zone along with Syria and Iraq and somehow was surprised when the Russians came in after Obozo brokered his Antichrist Iran Nuclear deal?
LMAO. THIS IS ALL BULLSHIT! Nobody is that stupid. This is all a coordinated slaughter and destabilizing the countries around the prophetic point of order benefits one country that the Russians just politely informed before beginning bombing! Come on.
MOSCOW – The Russian defense ministry has invited foreign military officers to Moscow to coordinate work on fighting Antichrist Islamic State militants in Syria, said Deputy Defense Minister Anatoly Antonov, according to the TASS news agency.
Antonov was also quoted as saying that members of the US-led coalition conducting air strikes in Syria should pass Russia intelligence on the positions of Antichrist IS militants.
Amid numerous rumors that Deutsche Bank is among the corporations exposed to the VW fiasco, and to be clear there is no news to confirm that, DB has just kitchen-sinked it in a pre-announcement:
*DEUTSCHE BANK SEES 3Q NET LOSS EUR 6.2 BLN
*DEUTSCHE BANK TO RECOMMEND DIVIDEND CUT OR POSSIBLE ELIMINATION
Deutsche Bank stock is crashing down around 6% after-hours on the news.
Full Press release: Deutsche Bank expects to incur charges that will materially impact third quarter 2015 results:
An impairment of all goodwill and certain intangibles in Corporate Banking & Securities (CB&S) and Private & Business Clients (PBC) of approximately EUR 5.8 billion. This is largely driven by the impact of expected higher regulatory capital requirements on the measurement of the value of these segments as well as current expectations regarding the disposal of Postbank.
An impairment of the carrying value of Deutsche Bank’s 19.99% stake in Hua Xia Bank Co. Ltd. of approximately EUR 0.6 billion. This reflects an updated valuation triggered by a change of the intent of the holding as Deutsche Bank no longer considers this stake to be strategic.
Litigation provisions of approximately EUR 1.2 billion, the majority of which are not expected to be tax deductible. Final litigation provisions in the quarter may be affected by further events before we finalize and report third quarter results.
The impairment of goodwill and intangibles and of the Hua Xia investment will have no significant impact on Deutsche Bank’s regulatory capital ratios. Deutsche Bank currently expects to report a fully-loaded CRR/CRD4 Common Equity Tier 1 ratio for the third quarter of approximately 11%, which includes the impact of European Banking Authority Regulatory Technical Standards (\”Prudential Valuation\”) that were adopted in the quarter.
Based on these charges, Deutsche Bank expects to report a third quarter income before income taxes (IBIT) loss of approximately EUR 6.0 billion and a net loss of EUR 6.2 billion. Year-to-date results through the third quarter are expected to be an IBIT loss of approximately EUR 3.3 billion and a net loss of EUR 4.8 billion.
Excluding the impact of the impairment of goodwill and intangibles, the third quarter IBIT loss would be approximately EUR 0.2 billion and the net loss would be approximately EUR 0.4 billion, largely reflecting the litigation provisions and Hua Xia impairment. On the same basis, Deutsche Bank expects to remain profitable year-to-date through the third quarter with IBIT of approximately EUR 2.5 billion and net income of approximately EUR 0.9 billion.
As part of the planning for the implementation of Strategy 2020, the Management Board will recommend a reduction or possible elimination of the Deutsche Bank common share dividend for the fiscal year of 2015.
All the aforementioned amounts are estimates. The final amounts will be determined in the coming weeks and will be disclosed in our announcement of third quarter results, together with details of the implementation of Strategy 2020, which is now scheduled to occur on October 29.
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Is this the first crack (or the kitchen-sink’d last one?) As we asked previously, Is Deutsche Bank the next Lehman?
Submitted by NotQuant.com
Looking back at the Lehman Brothers collapse of 2008, it’s amazing how quickly it all happened. In hindsight there were a few early-warning signs, but the true scale of the disaster publicly unfolded only in the final moments before it became apparent that Lehman was doomed.
First, for purposes of drawing a parallel, let’s re-cap the events of 2007-2008:
There were few early indicators of Lehman’s plight. Insiders however, were well aware: In late 2007, Goldman Sachs placed a massive proprietary bet against Lehman which would be known internally as the “Big Short”. (It’s a bet that would later profit from during the crisis).
In the summer 2007 subprime loans were beginning to perform poorly in the marketplace. By August of 2007, the commercial paper market saw liquidity evaporating quickly and funding for all types of asset-backed security was drying up.
But still — even in late 2007, there was little public indication that Lehman was circling the drain.
Probably the first public indication that things were heading downhill for Lehman wasn’t until June 9th, 2008, when Fitch Ratings cut Lehman’s rating to AA-minus, outlook negative. (ironically, 7 years to the day before S&P would cut DB)
The “negative outlook” indicates that another further downgrade is likely. In this particular case, it was the understatement of all time.
A mere 3 months later, in the course of just one week, Lehman would announce a major loss and file for bankruptcy.
And the rest is history.
Could this happen to Deutsche Bank?
First, we must state the obvious: If Deutsche Bank is the next Lehman, we will not know until events are moving at an uncontrollable and accelerating speed. The nature of all fractional-reserve banks — who are by definition bankrupt at all times – is to project an aura of stability until that illusion has already begun to implode.
By the time we are aware of a crisis – if one is in the offing — it will already be a roaring blaze by the time it is known publicly. It is by now well-established that truth is the first casualty of all banking crises. There will be little in the way of early warnings. To that end, we begin connecting the dots:
Here’s a re-cap of what’s happened at Deutsche Bank over the past 15 months:
In April of 2014, Deutsche Bank was forced to raise an additional 1.5 Billion of Tier 1 capital to support it’s capital structure. Why?
1 month later in May of 2014, the scramble for liquidity continued as DB announced the selling of 8 billion euros worth of stock – at up to a 30% discount. Why again? It was a move which raised eyebrows across the financial media. The calm outward image of Deutsche Bank did not seem to reflect their rushed efforts to raise liquidity. Something was decidedly rotten behind the curtain.
Fast forwarding to March of this year: Deutsche Bank fails the banking industry’s “stress tests” and is given a stern warning to shore up it’s capital structure.
In April, Deutsche Bank confirms it’s agreement to a joint settlement with the US and UK regarding the manipulation of LIBOR. The bank is saddled with a massive $2.1 billion payment to the DOJ. (Still, a small fraction of their winnings from the crime).
In May, one of Deutsche Bank’s CEOs, Anshu Jain is given an enormous amount of new authority by the board of directors. We guess that this is a “crisis move”. In times of crisis the power of the executive is often increased.
June 5: Greece misses it’s payment to the IMF. The risk of default across all of it’s debt is now considered acute. This has massive implications for Deutsche Bank.
June 6/7: (A Saturday/Sunday, and immediately following Greece’s missed payment to the IMF) Deutsche Bank’s two CEO’s announce their surprise departure from the company. (Just one month after Jain is given his new expanded powers). Anshu Jain will step down first at the end of June. Jürgen Fitschen will step down next May.
June 9: S&P lowers the rating of Deutsche Bank to BBB+ Just three notches above “junk”. (Incidentally, BBB+ is even lower than Lehman’s downgrade – which preceded it’s collapse by just 3 months)
And that’s where we are now. How bad is it? We don’t know because we won’t be permitted to know. But these are not the moves of a healthy company.
How exposed is Deutsche Bank?
The trouble for Deutsche Bank is that it’s conventional retail banking operations are not a significant profit center. To maintain margins, Deutsche Bank has been forced into riskier asset classes than it’s peers.
Deutsche Bank is sitting on more than $75 Trillion in derivatives bets — an amount that is twenty times greater than German GDP. Their derivatives exposure dwarfs even JP Morgan’s exposure – by a staggering $5 trillion.
With that kind of exposure, relatively small moves can precipitate catastrophic losses. Again, we must note that Greece just missed it’s payment to the IMF – and further defaults are most certainly not beyond the realm of possibility.
And if the dominos were not adequately stacked already, there is one final domino which perfects the setup.
Meet Tom Humphrey. He heads up Deutsche Bank’s Investment Banking operations on Wall Street.
He was also head of fixed income at Lehman.
History never repeats. But it does rhyme. In market terms, it tends to rhyme just about every 7 years.
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For more read the Zero Hedge piece from April 2014: The Elephant In The Room: Deutsche Bank’s $75 Trillion In Derivatives Is 20 Times Greater Than German GDP
The worst stock market crashes in U.S. history have come during the month of October. There is just something about this time of the year that seems to be conducive to financial panic. For example, on October 28th, 1929 the biggest stock market crash in U.S. history up until that time helped usher in the Great Depression of the 1930s. And the largest percentage crash in the history of the Dow Jones Industrial Average by a very wide margin happened on October 19th, 1987. Overall, 9 of the 16 largest single day percentage crashes that we have ever seen happened during the month of October. Of course that does not mean that something will happen this October, but after what we just witnessed in September we should all be on alert.
Clearly, there is a tremendous amount of momentum toward the downside right now. As you can see from the chart below, all of the gains for the Dow since the end of the 2013 calendar year have already been wiped out…
It had been quite a downcast start to the third quarter earnings season following very disappointing earnings from Illumina, Adobe and Yum Brand. Then Moments ago agri-giant Monsanto made it four out of four when it reported a huge miss on both the top and bottom line, with Q4 revenue of $2.36 billion, far below the $2.79 billion consensus estimate and down 10% from a year ago. The EPS was likewise a disaster, which at at loss of $0.19 in Q4, was also far below the consensus estimate of ($0.03).
This is what the company justified the disappointing result:
Full-year net sales results were driven by the performance of the company’s Seeds and Genomics segment and licensing agreements, which were more than offset by foreign currency headwinds, declining corn acres and declines in glyphosate pricing. Then there was the topic of cash flow: Monsanto was proud to announce that in 2015 it $3.1 billion in cash from operations, the same as in fiscal year 2014. Free cash flow was a source of $2.1 billion in fiscal year 2015, compared with a source of $959 million in fiscal year 2014. The fiscal year 2015 cash flow results primarily reflected the absence of The Climate Corporation acquisition and the BioAg Alliance with Novozymes.
So, great news right: the company was generating solid cash flow right. Well, yes, until one realizes that in 2014 MON repurchased $7.1 billion in stocks, and then another $835 million in 2015. In other words the company spent more than it generated in the past two years on buybacks.
Worse, MON spent $7.1 billion buying back stock at an average price of just over $110/share in 2014. Its stock is now $85, or a great way to generate a -25% return on cash investment…
… but at least the shareholders are happy.
As for MON, we are happy that the company has not learned its lesson:
Monsanto plans to enter into a new $3 billion accelerated share repurchase program under its current share repurchase authorization, as it progresses toward its targeted capital structure. The company plans to begin the new accelerated share repurchase program in the near-term and complete it sometime in the next six months. Because when all else fails, a short-term pop and a long-term drop is precisely what “activist shareholders” demand.
And as for all else failing, one just needs to look at the outlook:
Monsanto expects to achieve ongoing EPS of $5.10 to $5.60 in fiscal year 2016.
This compares to consensus estimates of $6.22. What is to blame this time?
Ongoing EPS guidance reflects in part an estimated $0.35 to $0.40 of headwinds from currency, $0.50 to $0.85 of headwinds from Agricultural Productivity pricing declines and $0.20 to $0.30 from elevated cost of goods for corn and the anticipated launch costs of Roundup Ready® Xtend soybeans. EPS on an as-reported basis is expected to be $4.44 to $5.01 in fiscal year 2016, reflecting additional charges related to the first phase of announced restructuring actions.
So pretty much everything including central bankers.
It gets worse:
The company projects free cash flow in the range of $1.6 billion to $1.8 billion for fiscal year 2016. The company expects net cash provided by operating activities to be $2.7 billion to $3.1 billion, and net cash required by investing activities to be approximately $1.1 billion to $1.3 billion.
Consensus cash flow estimate: $2.56 billion. But at least more than all of the company’s net cash will be used to fund the stock buyback.
And while Monsanto management is delighted to hand over all of its cash flows to investors (and management’s equity-linked compensation bonus), there is something for workers too: a pink slip.
The plans also include an expected separation of approximately 2,600 employees over the next 18-24 months.
Which, incidentally, is what in the New Normal is called “growth.”
As we noted last week, one of the biggest problems for the Central Banks is actual physical cash.
The financial system is predominantly comprised of digital money. Actual physical Dollars bills and coins only amount to $1.36 trillion. This is only a little over 10% of the $10 trillion sitting in bank accounts. And it’s a tiny fraction of the $20 trillion in stocks, $38 trillion in bonds and $58 trillion in credit instruments floating around the system.
Suffice to say, if a significant percentage of people ever actually moved their money into physical cash, it could very quickly become a systemic problem.
Indeed, this is precisely what caused the 2008 meltdown, when nearly 24% of the assets in Money Market funds were liquidated in the course of four weeks. The ensuing liquidity crush nearly imploded the system.
Because of this, Central Banks and the regulators have declared a War on Cash in an effort to stop people trying to get their money out of the system.
One policy they are considering is to put a carry tax on physical cash meaning that your Dollar bills would gradually depreciate once they were taken out of the bank. Another idea is to do away with actual physical cash completely.
Perhaps the most concerning is the fact that should a “systemically important” financial entity go bust, any deposits above $250,000 located therein could be converted to equity… at which point if the company’s shares, your wealth evaporates.
Indeed, the FDIC published a paper proposing precisely this back in December 2012. Below are some excerpts worth your attention.
This paper focuses on the application of “top-down” resolution strategies that involve a single resolution authority applying its powers to the top of a financial group, that is, at the parent company level. The paper discusses how such a top-down strategy could be implemented for a U.S. or a U.K. financial group in a cross-border context…
These strategies have been designed to enable large and complex cross- border firms to be resolved without threatening financial stability and without putting public funds at risk…
An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company into equity. In the U.S., the new equity would become capital in one or more newly formed operating entities.
…Insured depositors themselves would remain unaffected. Uninsured deposits would be treated in line with other similarly ranked liabilities in the resolution process, with the expectation that they might be written down.
In other words… any liability at the bank is in danger of being written-down should the bank fail. And guess what? Deposits are considered liabilities according to US Banking Law. In this legal framework, depositors are creditors.
So… if a large bank fails in the US, your deposits at this bank would either be “written-down” (read: disappear) or converted into equity or stock shares in the company. And once they are converted to equity you are a shareholder not a depositor… so you are no longer insured by the FDIC.
So if the bank then fails (meaning its shares fall)… so does your deposit.
Let’s run through this.
Let’s say ABC bank fails in the US. ABC bank is too big for the FDIC to make hold. So…
1) The FDIC takes over the bank.
2) The bank’s managers are forced out.
3) The bank’s debts and liabilities are converted into equity or the bank’s stock. And yes, your deposits are considered a “liability” for the bank.
4) Whatever happens to the bank’s stock, affects your wealth. If the bank’s stock falls at this point because everyone has figured out the bank is in major trouble… your wealth falls too.
This is precisely what has happened in Spain during the 2012 banking crisis over there. Since then it’s also happened in Cyprus, Greece…and it is now perfectly legal in the US courtesy of a clause in the Dodd-Frank bill.
This is just the start of a much larger strategy of declaring War on Cash. The goal is to stop people from being able to move their money into physical cash and to keep their wealth in the financial system at all cost.
This is just the start of a much larger strategy of declaring War on Cash. The goal is to stop people from being able to move their money into physical cash and to keep their wealth in the financial system at all costs.
Indeed, we’ve uncovered a secret document outlining how the Fed plans to incinerate savings to force investors away from cash and into riskier assets.
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.
And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
And the weight of the gold that hath come to Solomon in one year is six hundred sixty and six talents of gold,
The Antichrist Saudis bulldozed the bodies after the deadly stampede.
The Antichrist Islamic State (ISIS/ISIL) executed 12 Christians, including a 12-year-old boy, after they refused to abandon their faith and convert to Antichrist Islam. The murders occurred on August 28 outside of Aleppo.
“In front of the team leader and relatives in the crowd, the Antichrist Islamic extremists cut off the fingertips of the boy and severely beat him, telling his father they would stop the torture only if he, the father, returned to Antichrist Islam,” revealed Christian Aid Mission. “When the team leader refused, relatives said, the Antichrist ISIS militants also tortured and beat him and the two other ministry workers. The three men and the boy then met their deaths in crucifixion.”
The boy’s father was a “ministry team leader who planted nine churches.” One woman allegedly yelled “Jesus!” right before the terrorists beheaded her. Militants took eight aid workers, two of them females, to another village. They proceeded to rape the two females before they executed them.
“Villagers said some were praying in the name of Jesus, others said some were praying the Lord’s Prayer, and others said some of them lifted their heads to commend their spirits to Jesus,” described one source. “One of the women looked up and seemed to be almost smiling as she said, ‘Jesus!’”
The barbaric radical Islamic group has executed more than 11,000 people in “Iraq and Syria since its establishment of a self-proclaimed caliphate in June 2014.” Antichrist ISIS captured Mosul, Iraq’s second largest city, in that month. For over 2,000 years, Christians and Antichrist Muslims lived peacefully with each other. But when Antichrist ISIS invaded, the Christians were told to either leave, convert, or pay a subjugation tax. They kidnapped the majority of the females to sell on their sex slave market while they slaughtered the males in front of their families.
“It is like going back 1,000 years seeing the barbarity that Christians are having to live under. I think we are dealing with a group which makes Nazism pale in comparison and I think they have lost all respect for human life,” explained Patrick Sookhdeo, founder of Barnabas Fund. “Crucifying these people is sending a message and they are using forms of killing which they believe have been sanctioned by Antichrist Sharia law. For them what they are doing is perfectly normal and they don’t see a problem with it. It is that religious justification which is so appalling.”
In July 2014, Andrew White, the vicar of the only Anglican church in Iraq, told BBC Radio 4 that Christianity is coming to an end in the Antichrist Middle Eastern country.
“Things are so desperate, our people are disappearing,” he said. “We have had people massacred, their heads chopped off. The Christians are in grave danger. There are literally Christians living in the desert and on the street. They have nowhere to go.”
“Are we seeing the end of Christianity?” he continued. “We are committed come what may, we will keep going to the end, but it looks as though the end could be very near.”
Christians have spoken out about the treatment they endured from Antichrist ISIS. They said Antichrist ISIS destroyed churches and statues of Jesus Christ and the Virgin Mary, and raised the black flag in Mary’s place. Terrorists robbed the Christians at checkpoints, taking the earrings women were wearing.
“There is not a single Christian family left in Mosul,” said Bashar Nasih Behnam, who left with his two children. “The last one was a disabled Christian woman. She stayed because she could not get out. They came to her and said you have to get out and if you don’t we will cut off your head with a sword. That was the last family.”
On Wednesday, Attorney General Loretta Lynch announced at the United Nations that her office would be working in several American cities to form what she called the Strong Cities Network (SCN), a law enforcement initiative that would encompass the globe.
This amounts to nothing less than the overriding of American laws, up to and including the United States Constitution, in favor of United Nations laws that would henceforth be implemented in the United States itself – without any consultation of Congress at all.
The United Nations is a ANTICHRIST sharia-compliant world body, and Obozo, speaking there just days ago, insisted that “violent extremism” is not exclusive to Antichrist Islam (which it is). Obozo is redefining Antichrist jihad terror to include everyone but the Antichrist jihadists. So will the UN, driven largely by the Antichrist sharia-enforcing Organization of Antichrist Islamic Cooperation (OIC) and the pro-Antichrist Islamic post-American President Obozo, use a “global police force” to crush counter-Antichrist jihad forces?
After all, with Obozo knowingly aiding Antichrist al-Qaeda forces in Syria, how likely is it that he will use his “global police force” against actual Antichrist Islamic jihadists? I suspect that instead, this global police force will be used to impose the Antichrist blasphemy laws under the Antichrist sharia (Antichrist Islamic law), and to silence all criticism of Antichrist Islam for the President who proclaimed that “the future must not belong to those who slander the Antichrist prophet of Antichrist Islam.”
What is a global police force doing in our cities? This is exactly the abdication of American sovereignty that I warned about in my book, The Post-American Presidency: The Antichrist NWO 666 Obozo 911 Homosexual Climate Change Clown Administration’s War on America. The Obozo Department of Justice made it clear that it was exactly that when it distributed a press release last week announcing the “Launch of Strong Cities Network to Strengthen Community Resilience Against Violent Extremism.” In that press release, the DoJ complained that “while many cities and local authorities are developing innovative responses to address this challenge, no systematic efforts are in place to share experiences, pool resources and build a community of cities to inspire local action on a global scale.”
So if the local and municipal effort to counter the euphemistic and disingenuous “violent extremism” is inadequate and hasn’t developed “systematic efforts are in place to share experiences, pool resources and build a community of cities to inspire local action on a global scale,” the feds – and the UN – have to step in. Thus the groundwork is being laid for federal and international interference down to the local level. “The Strong Cities Network,” Lynch declared, “will serve as a vital tool to strengthen capacity-building and improve collaboration” – i.e., local dependence on federal and international authorities.
Lynch made the global (that is, United Nations) involvement clear when she added: “As we continue to counter a range of domestic and global terror threats, this innovative platform will enable cities to learn from one another, to develop best practices and to build social cohesion and community resilience here at home and around the world.”
This internationalist character was brought to the fore by the fact that the Strong Cities Network was launched on September 29 not at the White House or the Department of Homeland Security, or at the FBI headquarters or anywhere else that might be fitting for a national project, but at the United Nations.
Even more ominously, the DoJ press release says that the Strong Cities Network “will strengthen strategic planning and practices to address violent extremism in all its forms by fostering collaboration among cities, municipalities and other sub-national authorities.” Sub-national and international: the press release then quotes Governing Mayor Stian Berger Røsland of Oslo, Norway, a participant in the Strong Cities Network, saying: “To counter violent extremism we need determined action at all levels of governance. To succeed, we must coordinate our efforts and cooperate across borders. The Strong Cities Network will enable cities across the globe pool our resources, knowledge and best practices together and thus leave us standing stronger in the fight against one of the greatest threats to modern society.”
But what is that greatest threat, exactly? Remember, the DoJ presser says that the SCN will “address violent extremism in all its forms.” It also says that it will aid initiatives that are working toward “building social cohesion and resilience to violent extremism.” “Building social cohesion” is a euphemism for keeping peace between non-Muslim and Antichrist Muslim communities – mostly by making sure that non-Muslims don’t complain too loudly about, much less work against, rapidly expanding Antichrist Muslim populations and the Antichrist Islamization of their communities.
The DoJ presser noted that at the launch of the Strong Cities Network, “welcoming remarks” would be offered by the United Nations High Commissioner for Human Rights, Antichrist Prince Zeid Ra’ad Al Hussein and Mayor Bill de Blasio of New York City. The involvement of New York City’s Antichrist Marxist internationalist mayor is yet another warning sign.
‘It’s also deeply disappointing to see the U.S. and the UK – who are among the Antichrist Saudis’ closest allies – failing to intervene strongly to stop these executions from going ahead.
‘It is grossly hypocritical for David Cameron to say he opposes these sentences, while his government is bidding to support the very prisons service who will be responsible for carrying them out.
One of the most egregious attacks on American sovereignty just happened where our rights, constitutionally guaranteed, just got sold down the river in the guise of “protection.”
ANP recently highlighted the terminology Antichrist NWO 666 Barack Obozo The 911 Homosexual Climate Change Clown used in his UNGA speech, specifically his repeated references to “”international system,” a “system of international rules and norms,” an “international order,” an “integrated world,” as well as “international norms and principles and law,” and the pièce de résistance of Obozo’s comments where he says “strong nations, above all, have a responsibility to uphold this international order.”
Obozo was using his speech as a passive-agreesive attack on Vladimir Putz Putin, but it was the terminology listed above that was truly concerning as he never bothered referencing American sovereignty but instead focused on “international” rules.
We believe that all part of his setting up America for the ultimate betrayal.
OBOZO’S BETRAYAL OF AMERICA, HER CITIZENS AND THE U.S. CONSTITUTION
Can you imagine it being a crime to report corporate wrongdoing “through a computer system,” when the majority of the public now depend on online new sources to get the news?
Did you ever imagine that a U.S. president would sign off on a deal where companies based in America, such as YouTube and Facebook would be forced to remove content if they receive ONE complaint because someone in another country was offended by our constitutionally guranteed right of free speech?
Did you ever imagine we would come to a point where your Internet Service provider (ISP) could be required to “police” you as a user, remove your Internet content, and literally cut you off from the Internet?
It is here, it has happened, and all in the guise of a “trade” agreement called the Trans-Pacific Partnership (TPP) to which tech experts have written to Congress stating “Despite containing many provisions that go far beyond the scope of traditional trade policy, the public is kept in the dark as these deals continue to be negotiated behind closed doors with heavy influence from only a limited subset of stakeholders.”
Signatories include Brunei, Chile, Singapore, New Zealand, United States, Australia, Peru, Vietnam, Malaysia, Mexico, Canada, and Japan.
Many people wave away and ignore talk of the TPP because they cannot imagine how a “trade deal” could affect them…. because the “agreement has been made in secret and will not be fully published publicly for years.”
They have hidden the the actual text and content from “we the people,” and pretend this is a good deal for Americans.
WHAT DOES THIS MEAN FOR YOU
According to Expose the TPP:
Of the TPP’s 29 draft chapters, only 5 deal with traditional trade issues. Most would set rules on non-trade matters that affect our daily lives:
Food safety, internet freedom, medicine costs, job off-shoring, financial regulation, and more.
Our domestic policies would be required to comply with the TPP rules.
What this means for you is less news that does not comply with Washington’s propaganda, because as the Independent points out “Experts have pointed out that the wording is very vague, and could lead to whistleblowers being penalized for sharing important information, and lead to journalists stopping reporting on them.”
What this means for you is if you comment on Facebook or share something you think is important and it happens to “offend” someone, they could be forced to remove it…. Goodbye free speech and freedom of expression.
It means if you publish a video exposing what you believe to be important and it recieves a complaint, YouTube, owned by Google, will remove it.
Reports already indicate that Google, via YouTube are attacking alternative media personalities.
More from the Electronic Frontier Foundation who has called this the “biggest global threat to the Internet”:
TPP raises significant concerns about citizens’ freedom of expression, due process, innovation, the future of the Internet’s global infrastructure, and the right of sovereign nations to develop policies and laws that best meet their domestic priorities. In sum, the TPP puts at risk some of the most fundamental rights that enable access to knowledge for the world’s citizens.
If this passes Congress and becomes the “law of the land,” sites that do not comply, do not report on only what Washington wants them to report, will have their Internet free speech forcefully stifled, then they will be purged and finally completely shut down. People need to understand the end is not just “near,” it is already here.
Intellihub accurately describes where this is all heading:
Internet Police, Thought Police, bans on free speech, an Internet kill switch you name it, it’s coming. Especially if we keep heading down the path mentioned herein. Soon we will all be slaves of our own environments–unable to do or think for ourselves. …
The only thing even more disturbing than a U.S. president basically handing over American sovereignty, is that we have to depend on a weak, dysfunctional Congress to stop it.
Dr. Church, alarmed at BIDMC’s mindless crusade to normalize Antichrist homosexual behavior, began posting medical information about the health consequences of Antichrist homosexuality on the hospital’s internal internet communications portal where his colleagues could read it.
He quite correctly pointed out that Antichrist homosexual conduct leads to a higher incidence of HIV/AIDS, STD’s, hepatitis, parasitic infections, anal cancers, and psychiatric disorders.
The hospital has never contested the accuracy of any of Dr. Church’s statements about the dangers of homosexuality, and he’s never been “accused” of sharing this information with actual patients.
But for doing nothing more than communicating medical truth, Dr. Church was formally accused of “discrimination,” “harassment,” and “unprofessional conduct.” Furthermore, posting Bible verses on the topic were labeled “offensive” and discriminatory, and were added to his catalogue of crimes against Big Gay.
It’s worth noting that Dr. Church asked to have his name removed from the internal email list used by the hospital to send out its pro-sodomy material because he found it offensive. But his request was, as you might expect, ignored. While offending touchy Antichrist homosexual activists is now a career ending crime, offending the sensibilities of Christians is something that can be done with absolute impunity.
Astronomers have discovered unique and unusual features within the dusty disc of the AU Microscopii star on images from the NASA/ESA Hubble Space Telescope and ESO’s Very Large Telescope. Curious features are moving with an unusually fast speed, and are unlike anything discovered so far. Their origin presents a new challenge for the astronomers.
Machines that ‘surf’ particles on electric fields could reach high energies at a lower price..
William Guy Carr, a former Intelligence Officer in the Royal Canadian Navy, wrote that Satan has his “agentur within the hierarchy of Roman Catholicism just as they had Judas amongst Christ’s own apostles.” Of course, we dealt with this very real satanic group that the former Jesuit scholar, Malachi Martin, dubbed the “Roman Phalanx.” As we go to press a controversial biography of Belgian Cardinal Godfried Danneels. Catholic journalist Edward Pentin wrote concerning a conspiracy to drum Pope Benedict out of the petrine office:
At the launch of the book in Brussels this week, the cardinal said he was part of a secret club of cardinals opposed to Pope Benedict XVI.
He called it a “mafia” club that bore the name of St. Gallen. The group wanted a drastic reform of the Church, to make it “much more modern”, and for Cardinal Jorge Bergoglio to head it. The group, which also comprised Cardinal Walter Kasper and the late Jesuit Cardinal Carlo Maria Martini, has been documented in Austen Ivereigh’s biography of Pope Francis, The Great Reformer.
Bergoglio’s papal namesake, Saint Francis of Assis, warned a small group of his followers about of seven prophetic travails centering on a pope who is labeled a destroyer. In our first co-written work, Petrus Romanus Tom Horn and I connected this prophecy to St, Malachy’s Prophecy of the Popes, predicting the judgment and destruction of Rome during the reign of Pope Francis.
Further speculation about the Masonic plot originally spelled out in the Alta Vendita does seem related to what went on in the 1958 and 1963 conclaves because it was under these secret meetings when the popes were “elected” that would implement the Second Vatican Council and its Vendita-like heretical decrees. Of course we could cite once again a plethora of Church Fathers, Marian apparitions, and Catholic seers down through time that had forecast these events as a pre-game for the arrival of Petrus Romanus. Even Saint Francis of Assisi—one of the most venerated religious figures in history—gathered his devotees shortly before his death and prophesied that: “At the time of this tribulation a man, not canonically elected, will be raised to the Pontificate, who, by his cunning, will endeavor to draw many into error and death… Some preachers will keep silence about the truth, and others will trample it under foot and deny it…for in those days Jesus Christ will send them not a true Pastor, but a destroyer.” (Petrus Romanus 478-479).
Doesn’t election by conspiracy seem to qualify as “non-canonical”? We think so… We see no reason to diverge from our original thesis that this very well may be the second beast:
“And I saw another beast coming up from the earth, and he had two horns like a lamb, and he was speaking like a dragon.”(Revelation 13:11)
Two horns “like a lamb” seems to forecast a powerful Christian (lamb like) leader, clandestinely doing the bidding of Satan (the dragon in the passage). Tom Horn and I are currently co-writing our fourth book, this time connecting the dots to biblical and Islamic eschatology and pointing out how all of this is leading to a showdown with radical Antichrist Islam, the New World Order, and a Antichrist One World Religion based in Jerusalem.
Monday, September 14, 2015
After Tom Horn and Cris Putnam publicly proclaimed Pope Benedict would resign, The Vatican asked how they knew in advance. God told them. Now they’ve gotten a download on what is shortly going to happen…in the Antichrist Middle East. (Note: This is the audio from the Horn & Putnam TV interview with Sid.)
 William Guy Carr, Satan Prince of this World, 71. https://www.scribd.com/doc/3221212/carr-william-guy-satan-prince-of-this-world-1959#scribd
 Rod Dreher, “The Anti-Benedict Conspiracy,” The American Conservative, September 25, 2015, http://www.theamericanconservative.com/dreher/the-anti-benedict-conspiracy/ accessed October 6, 2015.
  St. Francis Of Assisi, Works of the Seraphic Father St. Francis Of Assisi, (Washbourne, 1882), 248-250. https://archive.org/details/worksseraphicfa00frangoog
Our planet is under the influence of positive polarity coronal hole today which is causing enhanced geomagnetic conditions. Geomagnetic K-index of 6 (G2-Moderate geomagnetic storm) threshold was first reached at 05:17 UTC today. Geomagnetic K-index of 7 (G3 – Strong geomagnetic storm) was reached at 19:08 UTC.
Shortly after 02:00 UTC on October 7, Earth’s magnetic field experienced an enhancement, as Bt increased to 14 nT initially, eventually seeing values near 20 nT.
The question today is merely one of timing. How long before a negative trigger is introduced