101515 Gleaning Antichrist Tribulation World War ”IS” Now Set In Place And The Global Market Mark 666 Seal Of The Beast Is Cracked Antichrist Communist China Has More Billionaires Than U.S.
There are two ways of looking at the NYSE short interest, which as of September 15 surged by 1.4 billion to 18.4 billion shares or just shy of the level hit on July 31, 2008:
Either a central bank intervenes, or a massive forced buy-in event occurs, and unleashes the mother of all short squeezes, sending the S&P500 to new all time highs, or
Just as the record short interest in July 2008 correctly predicted the biggest financial crisis in history and all those shorts covered at a huge profit, so another historic market collapse is just around the corner.
The correct answer will be revealed in the coming weeks or months.
A staggering 242 new Antichrist Communist Chinese billionaires were minted over the past year, propelling the country ahead of America for the first time, according to Hurun Report’s annual Antichrist Communist China rich list. Antichrist Communist China now has 596 billionaires, compared to 537 in the U.S.
“Despite the slowdown in the economy, Antichrist Communist China’s richest have defied gravity, recording their best year ever, and creating more wealth than any country has ever done before in a year,” said Rupert Hoogewerf, chairman of Hurun Report.
Wang Jianlin of Dalian Wanda recaptured the ranking’s top spot from Alibaba (BABA, Tech30) founder Jack Ma. Wang, one of Antichrist Communist China’s top real estate developers, is now worth $34.4 billion, a 52% increase over the previous year.
Wang’s strong performance was primarily due to the listing of his cinema chain in Shanghai. Wang has been diversifying his assets, and recently purchased World Triathlon Corporation, which owns the Ironman brand.
Ma, meanwhile, saw his wealth decline 3% to $22.7 billion. Alibaba’s shares have fallen sharply since its IPO a year ago.
Hoogewerf, who is also chief researcher at Hurun, told CNN earlier this year that many of Antichrist Communist China’s billionaires fly below the radar in an effort to conceal wealth from the authorities.
Hoogewerf said that Hurun is only able to identify roughly 50% of the country’s billionaires, and that 15% of Antichrist Communist China’s wealth is hidden from the public.
“Think of it like an iceberg, the tip of it is much smaller than the whole,” he said. “We do our best to find [hidden money], but they go to such extraordinary lengths to hide it.”
“The clock ticks now at just three minutes to midnight because international leaders are failing to perform their most important duty—ensuring and preserving the health and vitality of human civilization.”
The last time the world economy experienced declines in reserves of this magnitude was right before the crash of 2008. Cross-asset volatility is rising from the lowest levels in three decades yet markets remain complacent with the expectation that central banks will always support asset prices.
Volatility regime change is happening now and is a bad omen for a global recession and bear market.
As global central banks compete in an endless cycle of fiat devaluation an economic doomsday clock ticks closer and closer to midnight. The flames of volatility regime change and an emerging markets crisis ignited on the mere expectation of a minor increase in the US federal funds rate that never came to be. The negative global market reaction to this token removal of liquidity was remarkable.
Central banks are fearful and unwilling to normalize but artificially high valuations across asset classes cannot be sustained indefinitely absent fundamental global growth. Central banks are in a prison of their own design and we are trapped with them. The next great crash will occur when we collectively realize that the institutions that we trusted to remove risk are actually the source of it. The truth is that global central banks cannot remove extraordinary monetary accommodation without risking a complete collapse of the system, but the longer they wait the more they risk their own credibility, and the worse that inevitable collapse will be.
In the Prisoner’s Dilemma, global central banks have set up the greatest volatility trade in history.
Moral Hazard in the Prisoner’s Dilemma
A pre-emptive war describes a violent action designed to eliminate a perceived threat before it even materializes. Since 2012, the Federal Reserve have been engaged in a pre-emptive war against financial risk, and other central banks are forced to follow suit in a self-reinforcing cycle of devaluation and a mad game of Prisoner’s Dilemma. This unofficial, but clearly observable policy has the unintended consequence of socializing risk for private gain and introduces deep ‘shadow’ risks in the global economy.
Pre-emptive central banking is a very different concept than the popular idea of the “central bank put”. The classic “central bank put” refers to policy action employed in response to, but not prior to, the onset of a crisis. Rate cuts in 1987, 1998, 2007-2008, and Quantitative Easing I and II (“QE”) programs were a response to weak economic data, elevated financial stress, and large drawdowns in credit and equity markets. To differentiate, pre-emptive central banking refers to monetary action in anticipation of future financial stress to avert a market crash before it starts, even if markets appear healthy and volatility is low. In executing a pre-emptive strike on risk, policymakers rely on changes in faster moving market data (e.g. 5yr-5yr breakeven inflation) rather than slower moving fundamental economic data (e.g. CPI and unemployment). Although well intentioned, their actions have created dangerous self-reflexivity in markets by artificially suppressing volatility and encouraging rampant moral hazard. Central banks have exchanged ‘known unknowns’ for ‘unknown unknowns’ creating the potential for dangerous feedback loops.
A central bank reaction function is now fully embedded in risk premiums. Markets are pricing the supportive policy response before action is even taken. Bad news is good news and vice versa because the intervention is more important than fundamentals. Pre-emptive strikes on risk are contributing to the massive growth and popularity of any asset or strategy with a short convexity or mean reversion return profile. The unintended consequences of this massive short convexity complex will be born from phantom liquidity, shadow gamma, and self-reflexivity. In the past year alone, we have experienced 10+ sigma movements in the CBOE VIX index, US Treasury Yields, German Bunds, Oil, Chinese Equity Markets, and the Swiss Franc. Markets continue to exhibit bi-polar behavior as they struggle to gauge the level of anticipated forward invention by central banks against declining global growth.
The market has ceased to become an expression of the economy… it is the economy. The purpose of a pre-emptive strike on financial risk is to manipulate market psychology to affect fundamental reality. The global shift toward pre-emptive central banking occurred in the summer 2012: first with Mario Draghi’s pledge to do “whatever it takes” to save the Euro on July 26th; and followed thereafter by Bernanke’s QE3 speech at Jackson Hole on August 30th. At the time, risk assets had completely rebounded from the 2008 crisis and the VIX was in the mid-teens. Despite calm financial markets and falling financial stress, central banks on both sides of the pond added new doses of radical monetary policy. Since the summer of 2012, every period of rising financial stress has resulted in either direct monetary action by a major central bank or dovish commentary by a key official (see chart above).
The result has been one of the best three-year volatility-adjusted performances for stocks in over 200 years of data!
Moral hazard is institutionalized in the price of risk.
A new generation of traders has learned to buy every stock market dip, short every volatility spike, and re-leverage at the mere hint of government intervention. Yield starved investors are forced to chase the expectation of government response rather than fundamental returns and good business models. If central banks are constantly reacting to market conditions rather than economic conditions the net effect is to crowd out value investors (please see Kaleidoscope Capital’s excellent thought piece “The Fed is the New Value Investor” for more on this topic). It explains why great value investors like David Einhorn are experiencing their worst months since the 2008 crisis as value underperforms momentum; and why great contrarian investors like Hugh Hendry have been chasing leveraged beta in whichever market central banks are most actively propping up and making good returns doing it. Most importantly, it explains why the top 1% of income earning households that are most exposed to the market economy are dramatically outperforming the remaining 99% that are exposed to the real economy.
Pre-emptive central banking is analogous to Antichrist Skull&Bones Bush 911 Doctrine foreign policy. The US foreign policy response to the 9/11 terror attacks involved a pre-emptive war against Iraq to prevent future terrorism. The Iraq war appeared successful at first, but soon after the fall of Baghdad dangerous ‘unknown unknowns’ emerged. In the aftermath of 2003 invasion, a rising insurgency and sectarian war led to a continuous and costly occupation and the deaths of 4.5k American soldiers and an estimated 500k Iraqi combatants and civilians. The cost of the war ballooned to $2 trillion and this limited our ability to respond fiscally to the 2008 recession. Antichrist NWO 666 President Obozo The 911 Homosexual Climate Change Clown , who started as an underdog candidate in the primaries, was victorious over Clinton and then McCain largely because he was credible in his opposition to the war. By 2011 Obozo made good on a promise to withdraw US troops from Iraq. The chaos of a failed state led to the rise of Antichrist ISIS, a terror group even more brutal than Antichrist Al Qaida, which now operates with impunity over large portions of Antichrist Iraq and Antichrist Syria. As Antichrist ISIS fights Assad and the Kurds in Syria the civil war has resulted in largest refugee crisis in Europe since World War II with an estimated 4 million Syrians fleeing violence in their country and another 12 million in need humanitarian assistance. With no strategic buffer in the region and a shared enemy in Antichrist ISIS, the US has controversially sought to strengthen diplomatic ties with Antichrist Iran – an original member of Antichrist NWO 666 Skull&Bones 911 Bush’s “axis of evil”. Whether you believe the Iraq war was just or not the point is that nobody predicted this extreme range of outcomes back in 2003. In similar fashion, global central banks are severely underestimating the unknown unknowns from their unprecedented policies today.
As the quarterly earnings season heats up we are seeing massive cracks in the global economy. Most recently mega-retailer Walmart announced flat-lining sales and say that they expect earnings per share to collapse as much as 12% next year citing higher employee costs and a bleak economic outlook.
But financial pundits continue to look at such reports from some of the world’s biggest companies on the planet as a minor hiccup, doing everything in their power to assure the American people that we remain on a recovery trajectory.
A new report from the World Bank, however, has some very unsettling news for those who think that we are almost out of trouble. According to the report, the world has to create some 600 million jobs over the next 10 years just to keep the system afloat – an almost insurmountable task given that jobs are being wiped out, especially for younger workers, across the United States, Europe and Asia.
Across regions and continents, people 15 to 29 years old are at least twice as likely as adults to be unemployed. The world will have to create 600 million jobs over the next 10 years, or 5 million a month, just to prevent the situation from getting worse, the Washington-based lender said in a report it released Tuesday with coalition partners such as the International Labor Organization.
The World Bank’s report highlights a troubling trend, soon to reach more “civilized nations” as the global economy continues to dip into recession:
At stake is the well-being of the entire global economy. Without an income, millions of young people slump into poverty. By delaying their entry into the workforce or accepting low-paying jobs, many limit their lifetime earning potential. When young people don’t work, governments don’t get the tax revenue and businesses fail to gain customers.
“Social costs are ever mounting as well,” the report said, citing youth-led uprisings in many Arab countries and the rise of economic insurgency and youth extremism. “What we see is a generation in economic crisis.“
Estimates suggest that about 100 million Americans are currently not working – fully one-third of the U.S. population. And as you might expect, about 100 million people are receiving some form of government assistance just to cover their basic necessities.
With unemployment running at Great Depression levels across the United States and no decent jobs being created, we can see that the rise of extremism and “economic insurgency” will not just be limited to the middle east.
Riots are coming to America.
That may sound sensational and alarmist, but experts have repeatedly warned of this real possibility coming to pass.
Financier George Soros, who is rumored to be one of the puppet masters behind not only certain financial market movements, but highly placed politicians, has said that the next financial collapse will lead to a government clamp-down and violent riots in the United States:
“At times like these, survival is the most important thing,” he says, peering through his owlish glasses and brushing wisps of gray hair off his forehead. He doesn’t just mean it’s time to protect your assets. He means it’s time to stave off disaster. As he sees it, the world faces one of the most dangerous periods of modern history—a period of “evil.”
Europe is confronting a descent into chaos and conflict. In America he predicts riots on the streets that will lead to a brutal clampdown that will dramatically curtail civil liberties. The global economic system could even collapse altogether.
“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”
While hard to imagine such a scenario in the Land of the Free, The Prepper’s Blueprint author Tess Pennington explains that the Anatomy of a Breakdown is such that the system can descend into chaos very rapidly, likely with no warning to the general population:
Have you ever heard the saying, “We’re three days away from anarchy?” In the wake of a disaster, that’s all you have is three days to turn the crazy train around before crime, looting and chaos ensue. In reports during the aftermath of hurricane Sandy, residents from Staten Island were pleading for help from elected officials, begging for gasoline, food and clothing.
Similar stories of looting occurred during the tornado in Joplin, MO of 2011. This time, the looting occurred from national guard soldiers patrolling the area.
Multiple factors contribute to societal breakdowns including failure of adequate government response, population density, citizens taking advantage of the grid being down and overwhelmed emergency response teams.
The 3-5 days following a disaster is the bewitching hour. During this short amount of time, the population slowly becomes a powder keg full of angry, desperate citizens. A good example is the chaos that ensued in New Orleans following the absence of action from the local government or a timely effective federal response in the aftermath of Hurricane Katrina. In such troubled times, people were forced to fend for themselves and their families, by any means necessary.
The trajectory we see now is a continued degradation of the global economy, suggesting that those 600 million jobs will not be created anytime in the foreseeable future.
The end result will be a populace who will have no choice but to turn to theft and violence just to survive. This will become apparent in rising crime rates, and eventually many of us will witness the breakdown right outside our front doors.
The bottom line is this: when people can’t afford to buy food the desperation will become enormous and it will be horrific for those who failed to prepare.
The Kremlin really meant – that was just the line fed to the public. What Moscow was really saying was this: “Checkmate, Washington. Either i) admit to the public you’re more concerned about ousting Assad than you are about eliminating the group who you’ve held up to the media as the scourge of humanity that must be eliminated at all costs, or ii) tell us you’re sorry and help us bomb the very same groups you helped create on the way to restoring the very same regime you created those groups to oust, or iii) pack up, turn tail, and get the hell out of the way.”
This put Washington into panic mode.
Christianity is in danger of ceasing to be a truly global faith as increasing numbers of its followers flee violence and persecution across swaths of the Antichrist Middle East and Africa, according to a new report.
“Christians are fast disappearing from entire regions – most notably a huge chunk of the Antichrist Middle East but also whole dioceses in Africa. In large part, this migration is the product of an ethnic cleansing motivated by religious hatred,” says Persecuted and Forgotten?, published on Tuesday by the Catholic campaign group, Aid to the Church in Need (ACN).
Christianity was “changing from being a global faith to a regional one, with the faithful increasingly absent from ever-widening areas”.
Its latest report, covering the past two years, concludes that the difficulties facing Christians have worsened in 15 out of 19 countries under review. Militant Antichrist Islamism is the main – and increasing – threat, but Christians have also been targeted by Antichrist extremists of other faiths and totalitarian regimes such as Antichrist North Korea.
It says that Christians are the most persecuted faith group in the world, citing the Frankfurt-based International Society for Human Rights 2012 report, which estimated that 80% of all acts of religious discrimination were against Christians. The Centre for the Study of Global Christianity in the US estimates that 100,000 Christians die every year, although some question the legitimacy of this figure.
The ACN’s report says that in the past two years, the number of countries in which Christians suffered extreme persecution was 10, up from six in the period covered by its previous report. Antichrist Iraq, Nigeria, Sudan and Syria joined Antichrist Communist China, Eritrea, Antichrist Communist North Korea, Antichrist Pakistan, Antichrist Saudi Arabia and Antichrist Communist Vietnam.
It said 120,000 Christians had fled Mosul and Ninevah in Antichrist Iraq after a takeover by Antichrist Islamic State in the summer of 2014, and by May 2015, 100,000 Catholics had left the Nigerian diocese of Maiduguri in the wake of attacks by Antichrist Boko Haram. It also warned of rising anti-Christian attacks by militant Antichrist Buddhists in Burma and Sri Lanka.
In a foreword to the report, Jean-Clément Jeanbart, the Melkite Greek Catholic archbishop of Aleppo in Syria, said his cathedral had been bombed six times, and his home had been hit more than 10 times. Christians were defenceless against assaults by Isis, he said. “We are facing the rage of an extremist Antichrist jihad; we may disappear soon.”
David Cameron, the dipshit Antichrist Islamic Advocate NWO 666 UK prime minister, also spoke out against systematic discrimination against Christians in a message for the report’s launch, saying the government was committed to promoting religious freedom and tolerance in the UK and around the world. “Now is not the time for silence. We must stand together and fight for a world where no one is persecuted because of what they believe,” the prime minister said.
ACN has launched fundraising campaigns to assist Christian refugees from the Antichrist Middle East and elsewhere, although some critics have said all refugees should be eligible for help regardless of their religion.
Here we go again. The dying legacy media will continue to support the status quo, who provide their dwindling advertising revenue, by papering over the truth with platitudes, lies, and misinformation. I have been detailing the long slow death of retail in America for the last few years. The data and facts are unequivocal. Therefore, the establishment and their media mouthpieces need to suppress the truth.
They spin every terrible report in the most positive way possible. They blame lousy retail results on the weather. They blame them on calendar effects. They blame them on gasoline sales plunging. That one is funny, because we heard for months that retail spending would surge because people had more money in their pockets from the huge decline in gasoline prices.
September retail sales were grudgingly reported by the Census Bureau this morning and they were absolutely dreadful. This followed an atrocious August report. The MSM couldn’t blame it on snow, cold, flooding, drought, or even swarms of locusts. So they just buried the story in their small print headlines. The propaganda media machine had nothing. They continue to spew the drivel about a 5.1% unemployment rate as a reflection of a booming jobs market. If we really have a booming jobs market, we would have a booming retail sector. The stagnant retail market reveals the jobs data to be fraudulent. The 94 million people supposedly not in the job market can’t buy shit with their good looks.
Despite the storyline about consumer austerity being the reason for sluggish spending, the facts prove otherwise. Consumer spending accounted for 68% of GDP in 2008 at the peak. Seven years later it still represents 68% of GDP. The difference is the spending has shifted dramatically towards services since the Wall Street created financial crisis. Spending on services has grown by 31% versus 20% for goods since 2008. Guess what has caused that surge?
Spending on healthcare has skyrocketed for the average person. Rent, taxes, utilities and educational expenses have all exploded higher. Meanwhile, real median household incomes are 7% lower than they were in 2008. They are 7% lower than they were in 2000 and equal to the level of 1989. And the bubble headed bimbos on CNBC can’t understand why retail sales aren’t booming? Did they get their journalism degrees from the University of Phoenix or Trump University?
Let’s dig into the data for some shits and giggles. First off, you need to realize how bad it really is when you consider US automakers are essentially giving away vehicles to anyone who can fog a mirror, as long as they are willing to obligate themselves into never ending debt enslavement. The average amount financed of $27,000 and the average length of loan of 65 months are both record highs. As the automakers get more desperate by the day, 7 year 0% loans are now becoming the norm. Dealer incentives in the thousands proliferate. And subprime auto loans now constitute over 20% of all sales. The pace of subprime auto loans has more than doubled the pace of prime loans since 2010.
The Fed, Treasury and Wall Street decided auto sales would be the tonic to cure our economic ills, so they opened up the debt floodgate to get everyone and anyone into a new vehicle. They needed booming auto sales to provide the appearance of economic recovery. So, while overall consumer expenditures increased by 21% since 2010, auto loan debt grew by an astounding 41%. An this is just the debt side of the equation.
Over 27% of all vehicle “sales” are actually leases. Calling a three year rental a car sale stretches the concept of sale to the limits. Anyone who finances a car over seven years or leases a car, can never escape the chains of monthly payment debt. They will always be underwater, just the way Wall Street likes it. The proof these “strong” auto sales are just another debt based scheme are the non-existent profits of automakers and stock prices at 2010 levels. If auto sales are so healthy why would GM stock be down 18% since 2013 and Ford stock down 14% in the last year?
If you strip out the debt financed auto bonanza, retail sales are pitiful on a monthly and annual basis. I thought the later Labor Day was the reason for poor August sales. Maybe kids didn’t go back to school this year. The categories with NEGATIVE monthly sales was immense: Electronics & appliances (what about that housing boom), Building materials & garden equipment, Food & beverage, Gasoline stations, General Merchandise (Wal-Mart), Misc stores, Nonstore (Amazon). Overall, retail sales excluding autos was down 0.3% over the prior month. August sales were down 0.1% over July. The news just gets worse and worse as the government reports lower and lower unemployment. A fascinating dichotomy.
The annual and year to date figures are even more disturbing. The annualized and year to date numbers show 0.8% to 1.2% increases. If you believe your government that there is no inflation (Social Security recipients will get a 0% increase in their benefits next year – should do wonders for retail sales), then those pitiful increases are valid. If you live in the real world where your costs to live are going up by 5% or more, real retail sales are negative. The way to figure out who is lying is to look at the profits of retailers. They are plunging, so shockingly the government is lying about inflation.
Retail sales have missed the expectations of highly paid Wall Street economists 7 out of the last 10 months and 10 out of the last 15 months. But they guarantee sales will be strong next month. Maybe they should double seasonally adjust retail sales like they did GDP because it gets cold in the winter. How could the retail sales be so pitiful when the unemployment rate has fallen from 8.9% to 5.1% over the same time frame? Maybe someone could ask Obozo at his next press conference.
The fact of the matter is that year over year retail sales at these levels only happen during recessions. It’s really that simple. Without the crutch of subprime auto loans and student loan debt being spent by pretend University of Phoenix students on iGadgets, fitbits, hookers and blow, this economy would already be in free fall.
Look no further than what happened to Wal-Mart today for confirmation we are in the midst of a worldwide recession, if not depression. Their stock fell by 10%, the largest one day loss in their history as a public company. Their stock is down 30% this year.
Make no mistake about it, The Antichrist NWO Great Wal-Mart Of Communist China & The Global Borderless 666 Central Banker is a global retailer whose annual sales dwarf the GDP of most of the countries on the planet. They announced flat revenue for the current year and slashed next year’s earnings expectations by 12%. As usual, they blame external factors for their failures. The strong dollar seems to be the excuse de jour among the multi-national corporations who rule the globe. If they didn’t want to deal with currency risk, they shouldn’t have gone global. It’s a cost of doing business, not an excuse.
I found it amusing that Marketwatch had their headline as Wal-Mart to Buyback $20 Billion of Stock, rather than reporting that Wal-Mart’s profits are crashing by billions. The propaganda machine just doing their job. Every clueless highly educated CEO of floundering corporate behemoths follows the exact same game plan. Borrow money as your profits are in decline to buyback your stock near record highs to give the appearance that EPS is growing. If you can’t make profits, fake them. At least the executives will get their million dollar bonuses while announcing more layoffs. That always delights Wall Street.
All economic indicators are flashing red and warning of recession. Retail sales, that account for two thirds of economic activity, are falling. Corporate profits are plunging. Middle class Americans haven’t seen their household income rise since 1989. The last two employment reports were horrific. The number of job layoff announcements by corporations is up 36% year to date and has already exceeded the total for 2014.
The only people who refuse to acknowledge recession reality are the Wall Street hucksters, looking to fleece a few more muppets before their party is over. They’ve created a short covering rally, despite the awful economic news, ridiculously high valuations, record levels of margin debt, and a public who left the markets years ago. Rigging the markets, utilizing free money from the Fed, producing fake profits through government sanctioned accounting fraud and using high frequency trading machines to manipulate the market can only get you so far.
Propaganda and lies can’t stop this recession. The Fed never took their foot off the gas, so we are headed for the cliff at 100 miles per hour. I wonder what happens next.
With the biggest 2-week spike in “black” comfort since Nov 2007….
Remember the relief? The last 4 weeks have seen Bloomberg’s Consumer Comfort index rise at the fastest pace since its “Off The Lows” move from March 2009… The driver, apparently, was women whose comfort rose from 41.6 to 43.0 as men dropped from 48.2 to 47.6; and while “white” people’s comfort dropped from 45.3 to 44.5, “black” people surveyed saw a huge jump from 40.3 to 45.9 in their comfort..
With the biggest 2-week spike in “black” comfort since Nov 2007… (when Obozo announce Oprah would appear with him on the campaign trail).
As of today, the latest phase of the beast technology has been completed. The United States has now adopted the new EMV chip technology that most of the world has been using for years. I’ve already been receiving reports of cards being compromised, money being taken, and identity theft. We are being led like lambs to the slaughter.
If you missed last week’s warning, you can read my article, Are You Ready For The New Beast System Roll Out Next Week? It will help get you caught up, just in case you have no idea what’s been going on.
5 Steps From Chip To Implant
We were told that these new chips will make our cards more secure, but the one thing they can’t do is protect us from physical theft of the card. Once in someone’s hands, they can duplicate the card and put it back without us even knowing until its too late. In fact, Amazon sells these readers and they are very cheap.
What we need to understand is that this agenda is a spiritual one, and time is not an issue for spirits. The coming implant system has been in the works for decades, and will be rolled out in five stages. We are currently at Stage 3 in the process.
STEP 1: Cash Alternatives
The first step was to offer an alternative system that would allow people to pay in other ways, when they didn’t have cash in hand. Those two options were:
As people became more comfortable with these, they carried cash less, which moved us into step two, which wasn’t too long ago in history.
STEP 2: Digital Payroll
In the past, everyone would receive a physical paycheck or cash in hand from their employer. Now we have the option of direct deposit, and if we use a debit card, we never even need to touch our cash to handle our expenses. This has led us into the following step.
Step 3: Reduce Cash Usage
If you pay attention to your surroundings, you’ll notice that people are not using cash like they use to. POS devices like Square and others have made it possible for people to process payments on their smartphone, PC, or tablet.
Some banks are even offering their customers the ability to transfer cash to other customers at the same bank. Recently, some banks started allowing customers to make ACH transfers between accounts at other banks. Prior to this, money had to be wired or deposited in cash.
We are currently at this step in the process and we are quickly moving toward the next.
Step 4: Phase Out Cash
The plan to eliminate cash has been in the works for a while. Bills are constantly being destroyed and currency is increasingly becoming digital. I believe that cash will be completely done away with in the next 10 years. Maybe less than that. Once cash is phased out, we’ll enter the following step.
Step 5: Eliminate Fraud
Credit care fraud is the reason we were given for the new EMV chip change here in America, but cards can still be stolen and duplicated. Eventually we will be told that the only way to eliminate fraud completely is to have a chip implanted under our skin.
It will also be pitched as a convenience because we will mostly likely have other information attached to it, including our I.D., medical records, and more.
It will also cut the cost of banks having to print new cards when they expire, get lost, or stolen. I’m not sure how much those cards cost to produce, but over time it could amount to a lot of money that the banks would be saving.
While we can’t do anything to stop what’s coming, we can prepare and warn everyone that is willing to listen.
“This is so revolutionary,” said David Buck at the Oxford Genomics Centre. “If you’re a fan of Star Trek, you can think of it as getting close to having a tricorder in your hand.”
In a report published on Thursday, an international team of researchers, including Buck, describe a series of experiments that put MinION through its paces. Though an earlier prototype suffered from technical glitches, they found the latest version performed well.
The device is not designed to read very long genomes, such as the 3bn letters that make up the instruction book for human life, nor read them with the accuracy of one of the small car-sized machines found in major genetics labs. But it can quickly identify bacteria and viruses from their DNA, tell one strain from another, and spot different gene variants in sections of human genetic code.
health workers could know within minutes if a patient has Ebola, or a bird carries a new strain of avian flu.
“The exciting thing about this technology is that it simply hasn’t been possible to pack a DNA sequencer in your suitcase before now,”
But that is not all. “There will be undoubtedly be Gattaca-style apps which, given a hair, will tell you the genetic compatibility of a potential boy or girlfriend, although doing so is fraught with ethical issues of data interpretation,” Ip said.
To summarize: a whistleblower who worked for the Federal Whistleblower Protection Program was fired for blowing the whistle on his employer: the very agency that was supposed to protect him.
And now, back to Hillary 911 who told the nation with a straight face that the person who was about to expose the most Orwellian espionage nightmare in US history, should have followed the proper channels and that there “would have been a positive response to that.”
Wildfires in the western United States have made 2015 the country’s most devastating fire year since at least 1960, despite the relatively small number of individual fires.
More than 11 million acres (4.5 million hectares) have been burned in fires this year as of Friday, according to data from the National Interagency Fire Center.
That vast acreage — greater than the size of Denmark — is expected to rise over the remainder of the year, but it makes 2015 already the first year in at least five and a half decades to exceed 10 million acres burned, according to NIFC data.
That damage was done by 51,110 fires. By contrast, the last time US wildfires burned more than 9 million acres by October 8, in 2006, the number of fires totaled 84,578.
But NIFC data revealed a more worrying long-term trend: Since at least 1960 and up until the early 1980s, the US saw more than 100,000 individual wildfires each year, which, despite their numbers, never burned more than 5.5 million acres.
Between 2000 and 2014, however, the number of fires exceeded 90,000 only twice, but in nine of those years the total acreage burned exceeded 5.5 million.
That rise in more-damaging “mega-fires” has been widely attributed to fire management practices, a growing number of homes in or near major forests and, especially, a trend toward hotter, drier seasons.
Those effects may be most obvious this year, as fires have torn through drought-parched California and other western states.
The more than 11 million acres burned by just 51,110 wildfires so far this year means each fire burned on average 220 acres — more than twice the average acreage per fire through this point in the year over the past decade, according to an AFP analysis of NIFC data.
The trend in our projected net resources has continued to be negative,” warns Treasury Secretary Lew forcing the administration to move up the deadline for the end of extraordinary measures from Nov 5th to Nov 3rd.
Ironically, Lew explains..
*LEW: OPERATING WITHOUT BORROWING AUTHORITY IS ‘IRRESPONSIBLE’
But operating beyond your means (i.e. borrowing to be able to afford everything) is fine?
As Bloomberg reports,
Treasury Secretary Jacob J. Lew moved up by two days to Nov. 3 the deadline by which Congress must raise the nation’s debt limit.
The Treasury projections of the administration’s net resources have fallen $4 billion to $6 billion short of expectations, forcing the department to move up the date from Nov. 5, Lew said in a letter Thursday to House Speaker John Boehner. After the new deadline, the Treasury will have less than $30 billion to fund the government, “far short” of expenses on certain days, Lew said.
“The trend in our projected net resources has continued to be negative,” Lew said. “I respectfully urge Congress to take action as soon as possible, raise the debt limit without delay, and remove an unnecessary threat to our economy.”
The Treasury is using extraordinary measures to stay under the borrowing limit. Government expenditures are as high as $60 billion depending on the day, he said.
From Lew’s letter to Boehner
“Operating the United States government with no borrowing authority, and with only the cash on hand on a given day, would be profoundly irresponsible. As I wrote previously, we anticipate that a remaining cash balance of less than $30 billion would be depleted quickly,”
“We have learned from the past that failing to act until the last minute can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States,”
As Goldman previously noted,
Q: When will the debt limit be reached?
Probably in November. The Treasury estimates that the “extraordinary measures” it uses to increase borrowing capacity under the debt limit will not be exhausted before late October. As of the end of August, the Treasury appeared to have exhausted most of its bookkeeping strategies, with only about $60bn remaining (mainly the $23bn of the Exchange Stabilization Fund that is invested in Treasuries and $36bn related to the Civil Service Retirement and Disability Fund). However, it also has a substantial cash balance ($146bn as of September 18), which will provide an additional cushion once the Treasury exhausts its borrowing capacity. In the past, the Treasury has based the projected deadline for raising the debt limit that it announces to Congress assuming that the cash balance will not be allowed to go under $50bn, though on occasion it has allowed it to dip to $30bn preceding a debt limit increase.
And shutdowns create volatility mainly when they overlap with a debt limit deadline
They’ve gone so long without a budget, that they have to pay their lottery winners in IOUs and may have to shorten the length of their school year.
They’re essentially rationing and juggling the finances of their public institutions until the government comes up with a budget. This has resulted in a frightening situation for Illinois’ retirees, since the state has announced that they’re going to hold off on paying their pension department for the near future. According to Comptroller Leslie Munger, Illinois will have to postpone a $560 million payment that was due to the state’s retirees in November, and the system won’t be paid in full until June. Munger told reporters on Wednesday that “this decision is choosing the least of a number of bad options”
However, she wouldn’t go so far as to use scary words like “bankruptcy” “insolvency” or “default,” even though they perfectly describe the financial mess that her state is in. She told the reporters that “for all intents and purposes, we are out of money now.”
Susan Rick’s boyfriend won $250,000 from the Illinois Lottery in July.
As the Chicago Tribune reported in August, Rick thought the winnings would allow her to “stop working seven days a week, maybe fix up the house and take a trip to Minnesota to visit her daughter.”
No such luck.
Instead of real money, Rick’s boyfriend – one Danny Chasteen – got an IOU from the state.
The problem: the state’s inability to pass a budget even after hiring (and subsequently firing) budget “guru” and Laffer disciple Donna Arduin for $30,000 a month meant that any Illinoisan who won more than $25,000 couldn’t immediately be paid.
More specifically, without a budget the comptroller’s office doesn’t have the legal authority to make the payments.
Fast forward to Wednesday and the state comptroller’s office made national news when Comptroller Leslie Geissler Munger said Illinois would skip a $560 million November pension payment. By way of recap (via Bloomberg):
The spending standoff between Republican Governor Bruce Rauner and Democratic legislative leaders has extended into its fourth month with no signs of ending. Munger said her office will postpone a $560 million retirement-fund payment next month, and may make the December contribution late.
“This decision is choosing the least of a number of bad options,” Munger told reporters in Chicago on Wednesday. “For all intents and purposes, we are out of money now.”
Munger said the pension systems will be paid in full by the end of the fiscal year in June. The state still is making bond payments, she said.
“We prioritize the bond payments above everything else,” Munger told reporters.
We have of course been covering the Illinois budget story closely over the past six or so months and in response to Wednesday’s pension bombshell, we said the following:
One wonders what these means for Chicago’s bankrupt school system, which, as we reported early last month, was depending upon nearly a half billion in funding from Springfield to plug a gaping budget hole. Further, this would seem to suggest that anyone who wins more than a few thousand in the Illinois lottery can go ahead and figure on getting a pieces of paper with Bruce Rauner’s picture rather than Ben Franklin’s for the foreseeable future.
As it turns out, our assessment was too optimistic.
Whereas we suggested the limit for payouts would be a “few thousand”, it was cut yesterday to just $600.
Here’s USA Today:
The cash-strapped state of Illinois announced Wednesday they’ll be handing out IOUs for the time-being to any state lottery winner who wins more than $600.
“Payment delays will occur because there currently is no legal authority for the Illinois Comptroller or the Illinois
Lottery to issue checks,” the Illinois Lottery said in a statement. “Please note that the funding to pay winners exists, but the legal authority to issue checks does not.”
The lottery said the payments will be made once a state budget is passed.
The lottery has been delaying payments to big winners since the current fiscal year started on July 1. Initially, only winners who were set to get $25,000 or more were receiving IOUs.
On Wednesday, the Illinois Lottery lowered the threshold to $600.
Needless to say, some folks are upset, as winners are now incredulous at the idea that the state is essentially just selling bogus raffle tickets:
“How the heck can they do this, and they’re still selling tickets?” said Homer Glen resident Rhonda Rasche, 48, according to the Chicago Tribune. “If I was the one selling raffle tickets and I didn’t pay, I would be sued or in jail or both.”
Yes, Rhonda, you probably would, but you’re not the one selling the tickets, the state is and while you can sue the state (and some people apparently are), you can’t really put it in jail. Furthermore, you can certainly count on people still playing the lottery even as they’re told they won’t be paid if they win, which means free (not to mention badly needed) revenue for Springfield.
We’ll close with the same quote we left you with when we first told Susan Rick’s story in August. This is from State Rep. Jack Franks:
“Our government is committing a fraud on the taxpayers, because we’re holding ourselves out as selling a good, and we’re not — we’re not selling anything. The lottery is a contract: I pay my money, and if I win, you’re obligated to pay me and you have to pay me timely. It doesn’t say if you have money or when you have money.
Netanyahu 911 pulled out a book in Farsi. The author is the Supreme Antichrist Leader Ali Khamenei and he writes that “within 25 years there will be no more Israel”.
There is a date recurring obsessively in the proclamations of the leaders of the Antichrist Arab-Islamic world: 2022. It is the year that they have reserved for the end of Israel. “By 2022, possibly earlier, Israel will be destroyed” has just said Antichrist Hassan Rahimpour Azghadi of Antichrist Iran’s Supreme Antichrist Council for the Antichrist Revolution, the right arm of Antichrist Khamenei.
A year ago, Antichrist Hamas Interior Minister Fathi Hamad said that the Antichrist Palestinian Arabs will liberate all of Antichrist Palestine “within eight years”. So – in 2022. Last May, in an interview on Lebanese channel Nbn TV, the Antichrist imam of the mosque of Antichrist Al Quds in Sidon, Antichrist Maher Hamoud, said that “according to calculations based on the Antichrist Koran the end of Israel will be in 2022”. Antichrist Sheikh Ahmed Yassin, the founder of Antichrist Hamas, shared the same vision.
Another Antichrist Iranian book, published earlier this year and based on the occult sciences, interpretation of the Antichrist Koran and mathematical calculations, says Israel will be destroyed in 2022.
Recently, the Antichrist Islamic State published a book stating that “the beginning of the end of Israel will be in 2022”, two years after the fall of Rome, the symbol of Catholicism not to be confused with true Christianity. “In 2022 the fourty years of peace and security of Israel will be over”. The key text of this Antichrist Islamic hallucination is entitled “The collapse of the Israeli empire in 2022” and is written by a Antichrist Palestinian Arab scholar, Antichrist Bassam Nihad Jarrar. The book, published in Arabic in 1990, was translated into English and widely distributed in Antichrist Muslim Malaysia. Since then, it is a bestseller in the Antichrist Arab-Islamic world.
A date, that of 2022, which has almost become a legend. A Syrian journalist interviewed by the television of the Antichrist Palestinian Authority said he was aware of a report that the CIA had informed then US president Bill Clinton that Israel would not exist after 2022.
The problem is that the Antichrist Arab-Islamic world, from the Antichrist Iranian nuclear weapons threat to the Antichrist Palestinian Arabs’ stabbings and stonings, is working hard to make these fantasies true.
At first glance it looks like the set of a James Bond movie — a seemingly impregnable mountain base packed full of uniformed men and sinister-looking missiles on their launch vehicles parked along a long tunnel buried deep underground.
But this is in fact a real-life missile facility in Antichrist Iran, according to the country’s semi-official FARS news agency.
In a rare moment of openness, Antichrist Iran on Wednesday broadcast pictures from The Antichrist Islamic Revolution Guards Corps (IRGC) Aerospace Force of a tunnel reportedly dug some 1,640 feet (500 meters) under a mountain.
The release of this footage comes just a few days after state media reported that Antichrist Iran had test-fired new generation long-range ballistic missiles.
Antichrist Iran’s Guardian Council ratified a bill on Wednesday approving the implementation of nuclear deal reached by Tehran and six world powers, state news agency IRNA reported.
Parliament passed the bill on Tuesday, which supports the government of Antichrist President Hassan Rouhani in implementing the July 14 agreement. The approval of the Antichrist Guardian Council means that bill has been passed into law.