102915 Gleaning

by amongthenumberedsaints

It is not possible to be a Christian in the Antichrist NWO 666 American Military, and it’s not possible to respect a government that places a young soldier in a combat situation that results in his death and the same government denies the soldier of his honor.

What kind of people would even consider putting on such a uniform at this point? There is no doubt what kind of people would do such a thing, FOOLS! AKA Mercenaries. At least in this case, some people were ”rescued”, lol. and now they face a lesser evil existence.

U.S. Soldier Killed by Antichrist ISIS, Pentagon Won’t Call It Combat 

The secular sabotage from fifth column apostate Americans is almost complete. The current inhabitants of our nation for the last 80 years have been indoctrinated with poisoned kool aid and brainwashed with the secular and godless ideologies of Marx, Nietzsche, Crowley, Dewey, Sanger, the Frankfurt School, Freud, Kinsley, Alinsky, J. Lennon, moral relativism, secularism, narcissism, socialism, subjectivism, pessimism, critical theory, secular and demonic euphemisms, godlessness and lawlessness (Rom.1:18-32). All of these have found their great fulfillment and means in Antichrist NWO 666 Barak H. Obozo The 911 Homosexual Climate Change Clown. He is the one and has been the one to fulfill all of these reprobates dreams and godless visions. He – for our nation – is the straw that broke the camel’s back and the man that our founding fathers warned us of who would come at the end of our nation’s journey.

Americans needs to wake up to the horrific realities which are at hand and until they do they will be continually swept away by the catastrophic floods of our nation’s calamities. My dear friends, I say this with no joy and with tears in my eyes that we are finished as a nation. The fat lady has sung! The jig is up! Put the fork in it! The curtain has closed! The camel’s back is broken! The final buzzer has rung! For the Day of the Lord is at hand and the Four Horsemen are about to ride and NOTHING can stop it from coming! It is now time that we as individuals and as a nation to look beyond the limited confines of this world and put aside all of its false saviors and focus on the Creator and Redeemer of all mankind. In the end all will depend on it.

The Kingdom of Heaven is at hand!

“You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything that is lent for interest. 20 You may charge a foreigner interest, but you may not charge your brother interest, that the Lord your God may bless you in all that you undertake in the land that you are entering to take possession of it.

Deuteronomy 23

^^^People are very very stupid and generally pathetic. They do not understand or ”reckon” the reality of the ”law” and how the above verse applies to the Antichrist NWO 666 Mark Of The Beast. They refuse to quantify even the reality of what is upon the prophetic last generation which is now risen. The reality of this verse proves beyond the shadow of doubt that the prophetic contemporary reality now at hand forces all ”watchful Saints of our Father in Christ” to consider and quantity the Antichrist NWO 666 Mark Of The Beast and reckon the really of the name and number of a man, The Antichrist, who’s image is quantified by the current false claim of dominion not only within Israel but the obvious current borderless reality of ”possession” or rule under law as a monitory standard ”seal of debt” as currency,

For instance, take the 666 talents of Solomon’s Gold and the ”tribute or tax” and replace the wisdom of sound money with a global Federal Reserve currency. Then reconsider the reality of the image of a man, lets use George Washington as the symbol of a man become a (g)od, as he is depicted on the ceiling of the United States Capitol Dome. On the Dollar are the words ”Debt Note” ”In (g)od We Trust”. So he is the ”occult” ”Antichrist” reality of the world reserve currency and the image of a man, who’s modern name and number are quantified by the Great (Pyramid) Seal of ”Debt as the global world reserve currency”.

Now we know the usual suspects, that funded the Bolshevik Antichrist Communist revolution etc… (lets call ”them” Spectre”) point to the Antichrist image representing the image of a man and his name and number, and nobody can legally buy sell or trade beyond the seal and image. This Antichrist image is what secures the current standing armies and the Antichrist government employees. This is a quantifiable fact, and every asshole you meet will proudly let you know that it is the military force that secures the Antichrist NWO 666 Mark Of The Beast within Israel and among all nations, and the nations and people that reject the Antichrist image of the beast are currently being destroyed. The Antichrist nation of Syria, with the fulfillment of the prophecy of Damascus become a ruinous heap now unfolding before this generation is proof of this fact. Libya is another example. The unfortunate reality is, lol, these are still Antichrist run nations and their efforts are fruitless.

Now consider the Antichrist Satanic Occult Masonic Order, and the fact that they venerate/worship their own image of a man, his name and number and they are all about Solomon’s Temple etc… These are the same usual suspects that built the Rothschild Israeli Supreme Court which looks like the back of the dollar bill. Now Consider the image of George Washington behind that Pyramid/AKA tomb.

…and if you consider the ridiculous reality of an Antichrist muslim prince proclaiming ”Israel” is better for the survival of the Antichrist ”debt based” petrodollar Kingdom you certainly are able to quantify the Nixon Default era now become the womb of Antichrist ISIS, that’s if you still have your head on your shoulders.

Antichrist Saudi Prince: “I’ll Side With Israel” Against Antichrist Palestinian Uprising and Antichrist Iran

There isn’t much point in going into complete detail on this, 99.9% of the world population can’t currently reckon the mark of the beast or quantify anything beyond the physical reality of what is being forced upon humanity. The Saints are certainly overcome and the watchful Saints are too few to make much of an impact at this point. Tribulation is unfolding before our eyes and those that have acquired wealth from this system have accepted the mark of the beast as the benefactors of their own cognitive dissonance or outright Antichrist spirit. The quantifiable reality of the mark of the beast rests upon the lack of foundation for the law, ”The Law” which in The Whole Holy Truth, is the sustaining law and revelation of our Father in Christ.

The Antichrist does not possess the Land Of Israel or any nation, in the end, because without foundation all is lost. Not only is the Antichrist Mark of the Beast at hand, the spiritual reality and image of a man, his name and number, has always existed in the case of the root of all evil on this Earth. The love of money confirms the Antichrist power and false claim of dominion among all nations and Israel. The prophetic reality of this last generation is very easy to recon, if you are a true ”watchful Saint of our Father in Christ”. All nations and Israel drink from the same cup of fornication, and ”NEWS FLASH” to them all. Christ drank from the cup, ”knowing” He is the proof of foundation, and suffered the pain of death and is The Whole Revelation of the risen sustaining law fulfilled.

The Antichrist false claim of dominion requires it’s reckoning, which is death and is the ”lie” and offer of ”temptation” declared by the Antichrist spirit among the nations and Israel. The lie proclaimed as such; ”you shall not surely die”.

The willful lie is the ”temporal earthly” Antichrist spirit which confirms the criminal and guilty cognitive dissonance, which market traders proclaim as ”don’t fight the Fed, trade the market you are given”. This is an abortion of (The Constitution/The Sustaining Law) humanity, and the ”moral hazard” expressed by the Fed Beast 666 Central Bankers themselves. ”They” are all going straight to Hell, along with their political Whores riding the grave(y)train (The Beast) straight to Hell in their own ”bucket” AKA prophetic Cup Of Fornication …which holds the wine of wrath and The Great Tribulation.

The New Secular Order/ New World Order is death. This is a very simple reckoning to understand.

Hopefully you get the picture, and you do not perish for being an Antichrist jerk, like a Rockerfeller etc… or some dipshit Antichrist King/Prime Minister/President etc…backed by hellhound government employees that are armed to the teeth with guns and nuclear ammunition. Lol, what a world. Remember, buying selling or trading the mark of the beast is not a choice, he/The Antichrist causes all, both rich and poor, large and small, free and bond to receive his Antichrist mark in order to buy sell or trade by his own false claim of dominion and possession of all nations and Israel. …but everyone that accepts the seal of our Father in Christ has rejected the Antichrist mark of the beast. There is no choice, once you ”know” The Truth by the power and authority confirmed and risen in Christ, you shall bow to the sustaining law of mercy. This generation is now increasing with ”knowledge”, which is another prophetic fulfillment now pouring out upon this prophetic terminal generation, and soon the time shall come when whole revelation shall be fulfilled and nobody on Earth shall have a doubt about their personal account and reckoning.

100 US CEO Have Greater Retirement Assets That 116 Million Americans

With another year of QE almost in the history books, we were looking for some great examples of how wealth disparity in the US between the pinnacle of the “wealth pyramid”, shown below and everyone else.

We got it thanks to a study by the Center for Effective Government and Institute for Policy Studies called “A Tale of Two Retirements“, which found that company-sponsored retirement assets of just 100 CEOs are equal to those of more than 40 percent of American families, roughly 50 million families or 116 million people.

Here are the findings which indicate a wealth divide so wide it could make Marie Antoinette blush:

The 100 largest CEO retirement funds are worth a combined $4.9 billion. That’s equal to the entire retirement account savings of 41 percent of American families – more than 50 million families and more than 116 million people.

On average, the CEOs’ nest eggs are worth more than $49.3 million, enough to generate a $277,686 monthly retirement check for the rest of their lives.

David Novak of YUM Brands had the largest retirement nest egg in the Fortune 500 in 2014, with $234 million, while hundreds of thousands of his Taco Bell, Pizza Hut, and KFC employees have no company retirement assets whatsoever. Novak transitioned from CEO to Executive Chairman in 2015.
The rich are not only richer, they are also legally allowed to pay far less taxes than most mere mortals: Fortune 500 CEOs have $3.2 billion in special tax-deferred compensation accounts that are exempt from the annual contribution limits imposed on ordinary 401(k)s.

Fortune 500 CEOs saved $78 million on their 2014 tax bills by putting $197 million more in these tax-deferred accounts than they could have if they were subject to the same rules as other workers. These special accounts grow tax-free until the executives retire and begin to withdraw the funds.
The Fortune 500 CEOs had more in their company-sponsored deferred compensation accounts than 53.8 percent of American families had in their deferred compensation accounts.

Glenn Renwick, CEO of The Progressive Corporation, transferred $26.2 million of his pay into his deferred compensation account last year, the most of any Fortune 500 CEO. That reduced his income tax bill by more than $10 million in 2014.

Remember that not only their year-end comp, but much of their retirement funds, are linked to stock performance thresholds, so the CEOs are explicitly motivated to boost their stock price. This means engaging in countless stock buybacks. However, when the debt spigot is put on hiatus and cash in must equal cash out, it means firing thousands workers. And if not firing, then merely reducing defined benefit plans should suffice.

Last year 18 percent of private sector workers were covered by a defined benefit pension, which guarantees monthly payments, down from 35 percent in the early 1990s. In contrast, 52 percent of Fortune 500 CEOs are covered by a company-sponsored pension.

Nearly half of all working age Americans have no access to any retirement plan at work. The median balance in a 401(k) plan at the end of 2013 was $18,433, enough to generate a monthly retirement check of $104.

Of workers aged 50-64, 29 percent have no defined benefit pension or retirement savings in a 401(k) or IRA. These workers will be wholly dependent on Social Security, which pays an average benefit of $1,223 per month.

It gets worse, and more tragic at the same time, because according to BlackRock, Americans and especially Millenials just have too much cash. No really, this is what Blackrock said:

While Americans said that they ideally should have 33% of their net worth in cash instruments, they admit to holding 65%–far too high an allocation to achieve their retirement goals, given low interest rates and the diminishing purchasing power of their cash related to the pressures of inflation. The current asset allocation of American portfolios according to the survey includes 65% in cash, 18% in equities, 6% in bonds, 4% in property, 2% in alternatives, 5% listed as “other.”

Well, perhaps Americans are simply not looking forward to buying what Wall Street and central banks have to sell just ahead of the ritual rug pulling that wipes out 50% of the market every few years. And then there is the question of just how much cash said Millennials have.

Here it the problem according to the Two Retirements report:

Younger Americans face a particularly difficult time saving for retirement. More than half of millennials have not yet begun to save for retirement, as they lack access to good jobs, and have staggering amounts of student loan debt. Americans under 40 today have saved 7 percent less for retirement than people in that age group were able to save in 1983.

So sorry Blackrock, but your feeble mind games will not work on us, even though we realize you would love for everyone to buy your flash-crashy ETFs. The reality is that Americans simply do not have any leftover funds, period, which to fund a retirement, be it invested in cash or BlackRock triple inverse ETFs.

CEOs, however, have nothing to worry about. Not only do they have Congress in their back pocket, they also get preferred treatment by the IRS.

On top of their massive annual compensation, CEOs of most large U.S. corporations have amassed gilded retirement fortunes. We analyzed SEC filings of publicly held Fortune 500 firms and found that the 100 largest CEO nest eggs were worth a combined $4.9 billion at the end of 2014. That sum is equal to the entire retirement account savings of 41 percent of American families (50 million families in total).

While the guaranteed monthly retirement check until death is a thing of the past for the vast majority of Americans, more than half of Fortune 500 CEOs receive company-sponsored pension plans. Their firms are allowed to deduct the cost of these often exorbitant plans from their taxes, even if they have cut worker pensions or never offered them at all.

Nearly three-quarters (73 percent) of Fortune 500 firms also have set up special tax-deferred compensation accounts for their executives. These are similar to the 401(k) plans that some Americans receive through their employers. But ordinary workers face strict limits on how much pre-tax income they can invest each year in these plans, while top executives do not. These privileged few are free to shelter unlimited amounts of compensation in these special pots, where their money can grow, tax-free, until they retire and start spending it.

The CEO-worker retirement divide turns our country’s already extreme income divide into an even wider economic chasm. New analysis by the Government Accountability Office shows that 29 percent of workers approaching retirement (aged 50-65) have neither a pension nor retirement savings in a 401(k) or Individual Retirement Account (IRA). According to a study by the Schwartz Center for Economic Policy Research at the New School, 55 percent of those aged 50-64 will be forced to rely almost solely on Social Security (which averages $1,233 a month).
And so on.

And because we know that readers are mostly interessted in names, here is a selection.

First, the 10 Largest CEO Retirement Funds

Second, the 10 Largest CEO Deferred Compensation Accounts.

A quick primer on these:

In 2014, 198 Fortune 500 CEOs invested a combined $197 million more of their pre-tax income in these plans than they would have been able to invest if they’d been subject to the maximum $24,000 cap that applies to ordinary workers. If they had been subject to this limit, they would’ve owed the U.S. Treasury $78 million more in income taxes last year.

The funds in these special tax-deferred accounts grow tax-free for the rest of the executives’ lives or until they are withdrawn. At that point, the executives make a one-time tax payment at an ordinary income rate. The Joint Committee on Taxation has produced a useful analysis of the financial benefits of tax deferral from the compounding of investment returns.

Executives can also choose where they live when they receive this compensation, including in a low-tax state. For example, CEOs who move after they retire from relatively high-tax New York to Florida, which has no state income tax, would pay substantially lower state taxes on this deferred compensation. These accounts can even be passed on to the executive’s heirs, allowing our country’s extreme wealth concentration to be passed on to future generations. These rules are contributing to the perpetuation of a new aristocracy.

And third, a quick look at the pension funding status at the corporations with the largest CEO retirement accounts:

Finally, here is the full breakdown of Fortune 500 CEOs’ retirement assets.

Spot The Defense Minister

Moore soon found himself two months behind on rent and at least 10 days from payday. In bed that night, he saw a TV ad for Future Income Payments, a company based in Irvine, Calif., that buys pensions in exchange for a lump sum. The company said it had worked with military personnel and government workers. Ten minutes later, he got up and made the call.

The next day, a company representative called Moore back and explained that he would receive a $5,000 cash advance for selling part of his pension. In exchange, Moore would have to pay the company $510 a month for five years — a total of $30,600.

If it were a typical loan, that would amount to $25,600 in interest — a rate of 512 percent.

Most of the companies advertise nationally on news sites and in military magazines, consumer advocates say. One ad highlighted in the recent congressional hearing on pension advances featured two smiling people in uniform below the words “This is our America.”

The effective interest rates charged by pension advance companies can be abusive, Cartwright said. But it is particularly “egregious” that the companies go after military retirees, targeting income streams that are backed by the federal government, he added.

– From the Washington Post article: Some Retirees are Making a Terrible Mistake with their Pensions

Welcome to the oligarch recovery. An economic rebound so robust that an ever increasing number of Americans are being forced to borrow money at usurious rates just to pay the bills. Today, I want to introduce you to the latest scheme to profit from poverty: Pension Advance Companies.
Here’s some of the Washington Post’s article on the subject from today:

Keith Moore, a 40-year-old military veteran recovering from post-traumatic stress disorder in Oklahoma, remembers the day last year when he sold off a chunk of his pension.

He had left the military after 21 years of service, because his disabilities — PTSD, arthritis and other injuries — made it difficult to work. But the transition to civilian life came with a different struggle: the need to provide for his family and pay the same bills with only half the paycheck.

Moore soon found himself two months behind on rent and at least 10 days from payday. In bed that night, he saw a TV ad for Future Income Payments, a company based in Irvine, Calif., that buys pensions in exchange for a lump sum. The company said it had worked with military personnel and government workers. Ten minutes later, he got up and made the call.

The next day, a company representative called Moore back and explained that he would receive a $5,000 cash advance for selling part of his pension. In exchange, Moore would have to pay the company $510 a month for five years — a total of $30,600.

If it were a typical loan, that would amount to $25,600 in interest — a rate of 512 percent.

Pension advances are complex products that offer retirees a lump-sum cash advance in exchange for all, or part, of their future pension payments. Consumer groups say they are pitched disproportionately to retired military members and federal retirees.

Future Income Payments is just one of the companies that offer such products. In a 2014 report, the Government Accountability Office identified 38 companies that had recently offered pension advances. At least 30 of the 38 companies were affiliated with one another in some way, sharing a parent company, a broker or another business relationship.

Future Income Payments did not return calls seeking comment.

Would you return a phone call when your business model consists of peddling 500% interest rate loans to broke U.S. military veterans?

The Oligarch Recovery – U.S. Military Veterans are Selling Their Pensions in Order to Pay the Bills 

Most of the companies advertise nationally on news sites and in military magazines, consumer advocates say. One ad highlighted in the recent congressional hearing on pension advances featured two smiling people in uniform below the words “This is our America.”

Because pension advance companies can describe their products as pension sales and not loans, they often avoid some of the stricter oversight required of lenders. That includes laws that protect consumers from high interest rates and regulations that require lenders to clearly disclose the interest rates consumers will face.

The effective interest rates charged by pension advance companies can be abusive, Cartwright said. But it is particularly “egregious” that the companies go after military retirees, targeting income streams that are backed by the federal government, he added.

Moore said that in hindsight he should have read the paperwork more closely. But at the time, he was worried about providing for his family.

His pension payments weren’t large enough to cover rent and electricity and other expenses for his wife and two children. Things piled on in the spring of 2014 when his car broke down.

Of course, this is just the latest example of average Americans being preyed upon as they descend further into inescapable poverty.

The power structure is beginning to panic as the public wakes up to the criminal climate engineering insanity. The growing police state is completely out of control and becoming unimaginably blatant with their actions. In recent weeks Washington has placed “gag orders” on the following agency employees, “The National Weather Service”, the “National Oceanic and Atmospheric Administration”, and the “US Department of Commerce”. This is a massive red flag that should trigger alarm bells everywhere.

Bill Hopkins, the executive vice president for the National Weather Service employees organization (NWSEO) said this:

“As a taxpayer, I find it highly disturbing that a government agency continues to push gag orders to hide how they operate. This is the work of the American government, owned by the American public, and should be open to the American public.”

Jeff Ruch, the executive director “PEER” (Public Employees for Environmental Responsibility) said this about the “gag orders”.

“The National Weather Service is about the last place where national security-style secrecy rules need to be enforced,” Ruch noted that the broad scope of the gag orders put much of what goes on inside the agency under wraps. “Everyone is free to talk about the weather except for the people working inside the National Weather Service. Go figure.”

Government Implements Illegal “Gag Order” On National Weather Service And NOAA Employees 

Some time ago I personally spoke to an NOAA scientist that said “we all know it is going on (climate engineering) but we are afraid to speak out, we have no first amendment protection”. The new “gag order” is a further muzzling of the NWS and NOAA. It is likely there are many in the National Weather Service and NOAA that have had enough of lying about what is really going on in our skies.

Other weather agencies and personnel have also been actively engaged in public deception. What did BBC “meteorologist” Ian Fergusson say about the picture below?

“When rain, ice crystals or snow falls but evaporates before reaching the ground, it’s a (natural) phenomenon called ‘virga’ or ‘fallstreak’.”

The so called “experts” are naming jet aircraft sprayed aerosol clouds as if they are produced by nature.

A report from PEER contains the following statement:

This summer, the National Weather Service began requiring a signed confidentiality agreement (Exhibit I) from NWSEO participants along with all participants on the OWA teams. These agreements purport to bind NWSEO representatives from communicating with its members, members of Congress or any other person regarding agency plans and how they are determined. These agreements also do not contain terms allowing reports of actual or impending law or rule violations, gross mismanagement, waste or abuse.

The PEER report continued with this:

The National Weather Service, NOAA and Commerce are presently implementing and enforcing nondisclosure agreements which violate the law.

We are officially living in an Orwellian police state where any who dare to try and tell the truth are dealt with severely. Forcing the employees of “national” weather and climate agencies to sign “confidentiality agreements is extremely alarming (with unimaginable potential consequences), but not surprising given what we know about the cataclysms being caused by the rapidly growing climate engineering elephant in the room. Some may mistake the “gag order” to be only about union issues, this is not the case as quotes above (taken from the PEER reports) make clear. The decimation and mortality that has already been inflicted on our biosphere and all life from global geoengineering is so immense it could never be calculated. The weather warfare insanity is finally becoming all but impossible to hide, the recent “gag orders” are a sign of true desperation on the part of the power structure. Now more than ever we must all keep up our pace in the battle to expose and halt climate engineering.
DW

Let’s get this straight. On Wednesday morning a new national poll revealed that 54% of Americans rate the economy as ‘poor.’ That’s after nearly seven years of Antichrist NWO 666 Barack Obozo The 911 Homosexual Climate Change Clown ‘s big government solutions. Republicans, of course, are especially gloomy about the economy.

That was Wednesday morning, teeing things up for CNBC, the self-described ‘world leader in business news.’ Surely the moderators would flood the zone with substantive questions about the U.S. economy.

Instead, Becky Quick quizzed Marco Rubio about his ‘lack of bookkeeping skills,’ Carl Quintanilla posed questions about homosexuality and fantasy football, and the astonishingly incompetent John Harwood expressed doubt about Donald Trump’s ‘moral authority.’

To be fair, CNBC’s triumvirate asked many questions about taxes and spending and deficits and Social Security, but way too many of those questions did not elicit solid answers. They seemed crafted to bring attention to the hosts, not the candidates.

But, as Contra Corner blog’s David Stockman details, almost with out exception the GOP candidates conveyed a compelling message that the state is not our savior, while the CNBC moderators spent the night fumbling with fantasy football and inanities about which vitamin supplements Ben Carson has used or endorsed.

But this was about more than tone. The interaction between the candidates and the CNBC moderators revealed the yawning gap between the bubble world at the intersection of Washington and Wall Street and the hard scrabble reality of economic stagnation and political alienation on main street America.

Yes, the CNBC moderators engaged in a deplorable display of gotcha journalism punctuated by a snarky self-righteousness that was downright offensive. John Harwood is surely secretly on the payroll of the Democratic National Committee and it was more than obvious why Becky Quick excels at serving tea to blathering old fools like Warren Buffett.

So they deserved the Cruz missile that came flying at them mid-way through the debate.

At that point the Senator from Texas had had enough, especially from Carl Quintanilla. The latter has spend years on CNBC commentating about the “market”, but wouldn’t know honest capitalism is if slapped him upside the head, and has apparently never meet a Washington intervention that he didn’t cheer on as something to help the stock averages go higher:

Let me say something at the outset. The questions that have been asked so far in this debate illustrate why the American people don’t trust the media. This is not a cage match. And if you look at he questions—Donald Trump, are you a comic book villain? Ben Carson, can you do math?… Marco Rubio, why don’t you resign? Jeb Bush, why have your numbers fallen? How about talking about substantive issues?”
Nor did the Texas Senator let up:

“Carl, I’m not finished yet. The contrast with the Democratic debate, where every thought and question form the media was ‘Which of you is more handsome and wise”

As one pundit put it afterwards, “given the grievous injuries inflicted on Team CNBC” by Cruz and the rest of the candidates, the only thing left to do was to “shoot the wounded”.

Actually, there is rather more. Last night was billed as a debate on domestic issues and the economy, and CNBC is the communications medium of record about the daily comings and goings of the US economy and the financial markets at its center. Yet not one of the three moderators during the entire two hour period asked a question about the elephant in the room.

They had to bring in from the sidelines the intrepid Rick Santelli to even get the Federal Reserve on the table. Its almost as if the CNBC commentators work on the set of the Truman Show and have no clue that it’s all make believe.

In the alternative, call this condition Bubble Blindness. It’s a contagious ideological disease that afflicts the entire corridor from Wall Street to Washington, and CNBC is the infected host that propagates it.

The fact is, the monetary madness in the Eccles Building is destroying free market capitalism by systematically and massively falsifying the prices of financial assets, and fueling a relentless, debilitating accumulation of debt throughout the warp and woof of the American economy and the rest of the world; and it’s simultaneously extinguishing political democracy by deeply subsidizing our crushing $19 trillion national debt.

The GOP politicians appropriately sputtered last night about the bipartisan beltway scam rammed through the House yesterday by Johnny Lawnchair, but they were given no opportunity by their clueless moderators to explore exactly why this kind of taxpayer betrayal happens over and over.

Well, there is a simple answer. The Fed’s elephantine $4.5 trillion balance sheet represents the greatest fiscal fraud ever conceived. Last year it paid the Treasury approximately $100 billion in absolutely phony profits scalped from its massive trove of Treasury debt and quasi-government GSE paper.

That is, over time Uncle Sam has purchased $4.5 trillion worth of real economic resources——in the form of goods, services, salaries and transfer payments——from the US economy, which were paid for with IOUs.

Under an honest financial regime these obligations would be eventually redeemed in equivalent goods and services, thereby causing a transfer from private to public use and a reallocation of savings from productive investment to the balance sheet of the state.

But no more. The Fed’s massive purchases of the public debt are funded not with society’s real savings from current income and production, but from fiat credits it conjures out of thin air.

And then the monetary charlatans behind the curtain at the Fed add insult to injury. Every year they send back to the US treasury the coupons earned on these airballs, causing the politicians to think the national debt is no problem; and that they can buy aircraft carriers and GS-15 salaries indefinitely while booking a “profit” on their borrowings.

Folks, this is just plain madness. Back in 1989 when the real median household income first hit its current level of about $54,000, this entire monetization scam would have been considered beyond the pale by even the inhabitants of the Eccles Building, and most certainly by everyone else in Washington——from the US Treasury, to the Congressional budget committees, to the summer interns in the Rayburn Building.

But after 25 years of central bank induced financialization of the US economy, there has developed a cult of the stock market and a Wall Street regime of relentless financial gambling in the guise of “investment”. Consequently, the massive aritificial inflation of financial asset values is not even recognized by CNBC and its fellow travelers in the main stream financial press—to say nothing of the very prosperous punters who inhabit the casino.

But here’s the thing. How did the real median household income stagnate at $54,000 while the real value of the S&P 500 soared by nearly 4X during the era of Bubble Finance?

The Debate: GOP Candidates Elevated, CNBC Eviscerated

Likewise, how did the aggregate “market cap” of US debt and business equity soar from 200% to 540% of GDP when main street living standards were not rising at all? Could it be that something rotten and deformed has been injected into the very financial bloodstream of American capitalism—-something which the CNBC cheerleaders dare not acknowledge or even allow conservative politicians to explore in a public forum?

Worse still, this entire Fed-driven regime of Bubble Finance has inculcated in the casino and its media megaphones the insidious notion that the arms and agencies of government exist for one purpose above all others. Namely, to do “whatever it takes” to keep the bubble inflated and the stock market averages rising—–preferably every single day the market is open.

There was no more dramatic demonstration of that proposition than after the Wall Street meltdown in September 2008 when the as yet un-house broken GOP had had the courage to vote down TARP.

But when they were dragged back into the House chambers by Goldman Sachs and its plenipotentiaries in the US Treasury, the message was unmistakable. On one side of the CNBC screen was the House electronic voting board and on the other side was the second-by-second path of the S&P 500. And delivering the voice-over narrative were the same clowns who could not even mention the Fed last night. The US Congress dare not vote down TARP again, they fulminated.

It obviously didn’t. Yet right then and there the conservative opposition was broken, and the present statist regime of Bubble Finance was off to the races.

During the coming decade the nation will be battered and shattered by a monumental fiscal crisis and the bankruptcy of the bogus “trust funds” which now pay out upwards of $2 trillion per year to 70 million citizens. At length, the bearers of pitchforks and torches descending on Washington will surely ask how this all happened.

But they will not need to look much beyond last night’s debate for the answers. The nation’s fiscal process has been literally shutdown by the Fed and the Wall Street gamblers and media cheerleaders who insouciantly and relentlessly demand of Washington that it do “whatever it takes” to keep the bubble inflated.

As a result, we have had the absurdity of 82 months of ZIRP and a orgy of public debt monetization that has driven the weighted average cost of the Federal debt to a mere 1.75%. That’s close enough to free for government purposes—–so exactly which heroic politicians are going to fall on the sword to stop the debt machine when they can kick the can without visible consequences?

And when a few courageous remnants of fiscal sanity like Senators Cruz and Rand Paul have had the courage to resist still another increase in the public debt ceiling, they have been treated as pariahs by Wall Street and the kind of snarky financial media types on display last night.

The fact is, the President has clear constitutional powers to prioritize spending in the absence of an increase in the debt ceiling. That is, he can pay the interest on the debt, keep the Veterans hospitals open, send out the social security checks and prioritize any other category of spending that he chooses from the current inflow of tax revenues, and for as long as it takes to legislate an honest fiscal retrenchment.

Needless to say, that would create howls of pain from the Federal vendors who wouldn’t get paid, the state and local governments which would have to wait for their grant payments and the Federal employees who would be put on furlough.

But that is not the reason that Mitch McConnell and Johnny Lawnchair have capitulated every time a debt ceiling crisis has reached the boiling point. That kind of action-forcing circumstance was managed by Washington innumerable times in the pre-Bubble Finance world, including on upwards of a dozen occasions during my time in the Reagan White House.

But back then no one thought that Wall Street would have a hissy fit if the government was shutdown for a few days or if the fiscal gravy train was temporarily put on hold; nor did politicians much care if it did.

My goodness. Paul Volcker had taught Wall Street a thing or two about the requisites of financial discipline in any event.

No, what is different now is that the establishment GOP politicians are petrified of a stock market collapse, and have been brow-beaten into the false belief that a government shutdown will create severe political costs.

Baloney. Even the totally botched affair in October 2013 created no lasting damage—-as attested to by the GOP sweep in the 2014 elections.

At the end of the day, all the hyperventilation about the political costs of a government shutdown or the forced prioritization of spending in the absence of a debt ceiling increase is pure Wall Street propaganda; and its an untruth amplified and repeated endlessly, loudly and often hysterically by its financial media handmaidens.

At least last night some GOP politicians gave it back to them good and hard.

Someone’s Still Lying

the divergence between “useless at this point in the business cycle” claims and ‘real’ job cuts has never been wider.

http://www.senate.gov/floor/ 

^^^9 PM EST Senator Ted Cruz is actually rebuking the entire Senate for being criminals. Having witnesses many floor speeches, this one is definitely one of the best ever and is certainly the most relevant contemporary rebuke of this criminal government. Cruz is actually speaking the truth. Lol, shocking. He’s actually being eloquent.

Senator @RandPaul speaks on Federal #Budget – LIVE on C-SPAN2 http://cs.pn/1ilHCyB #debtceiling

“But if Paul really wanted to filibuster the bipartisan deal to fund the government and raise the debt ceiling, he needed to be in Washington to halt McConnell from greasing the procedural skids. It would have been very difficult, physically, for Paul to speak continuously through the weekend to edge the country toward a Nov. 3 default. But after McConnell’s action on Wednesday, it’s impossible.”

Rand’s Filibuster Busted 

You remember his good buddy Mitch, right? That is what “playing politics” gets you, from your allies.

Rand Paul discusses CNBC Debate and his budget deal filibuster CNN

The “equal-weight” S&P 500 has dropped to near 3-year lows versus the cap-weighted version. Previous such events under similar conditions occurred at inauspicious times.

Continuing with the impromptu weekly theme regarding the relatively “thin” nature of the recent stock rally, today we take a look inside the S&P 500. Like yesterday’s post on the consumer discretionary sector, this one examines the “equal-weight version of the index versus the traditional cap-weighted version. Whereas the performance of the cap-weighted index can be subject to undue influence by the very largest components, a look at the equal-weight version can give us an idea of the health of the broad swathe of stocks within the index.

While the relative under-performance on the part of the equal-weight S&P 500 (as judged by the Rydex Equal-Weight S&P 500 ETF, RSP) may not be as egregious as in the consumer discretionary sector, it is still somewhat alarming. Despite the cap-weighted S&P 500 (as judged by the S&P 500 SPDR ETF, SPY) being reasonably close to its all-time highs again, the equal-weight:cap-weight ratio has dropped to near 3-year lows. Considering the context, the RSP:SPY ratio is at levels only seen just prior to substantial declines in July and back in 2007.

Eventually The Weight Becomes Too Much To Bear

Does this mean the market is on the verge of another collapse? Not necessarily. It doesn’t even mean that the rally cannot continue, for a time. It does mean that if one wants to participate on the long side, they are likely better suited being in those relatively few stocks or areas that are carrying the market at the moment.

That said, we are big proponents of good breadth as a sign of a healthy market. The more stocks that are participating in a rally, the better the foundation for the rally. Thus, when some, or a lot, of stocks invariably fall by the wayside, there are enough strong stocks to continue to carry the burden. When there are relatively few stocks doing all the heavy lifting, there is less margin for error.

Eventually, the weight will become too much to bear for just those few stocks. And, as we saw this summer, when those relatively few leaders begin to stumble, the market will again be vulnerable to significant damage.

Goldman ‘Explains’ This Is Not A “Low Quality” Rally, It Is “Macro-Free” – So Don’t Worry

So have no fear American investors, despite nothing behind this rally, keep buying (or holding) – because the professionals need someone to sell to…

As you will notice the only “net buyers” of equities have been “individuals,” while “professional” firms have been “net sellers.” This is the epitome of the classic “smart money/dumb money” analysis where individuals are used by institutions to offload positions that are no longer optimal.

The question is with corporate profits and earnings declining, weak economic data, and the threat of tighter monetary policy – will individuals once again be left “holding the bag” while institutions derisk portfolios in advance of the next decline?

7 Astounding Charts Show How Badly The Fed Failed The Housing Market

For generations, single family housing development was a driver of US economic growth. Today, there is no single family housing industry to speak of. These 7 charts derived from this week’s release of new house sales data from the Census Bureau illustrates just how bad things are.

New house sales fell versus September 2015 and remain barely above the housing depression lows, a mere fraction of 2005 bubble levels

his recovery has not even reached the levels reached at the bottom of the 1992 or 1974 recessions. It has gotten back to the 1982 recession low, but there are 45 million more households today than in 1982. This chart shows September sales in thousands for each year since 1972.

The number of full time jobs has returned to 2007 levels. Normally new house sales and jobs growth correlates somewhat. But while the number of jobs continued to grow since 2013, new home sales haven’t kept pace. That’s because most of the jobs being created are too low paying and too insecure to support the purchase of a home. Because of ZIRP, corporate executives find it more profitable to fund stock buybacks or buy competing companies and fire workers, than to invest in their workforces.

Homebuilders tell survey takers that business is great, but the facts say otherwise. The gap between what builders say and the actual level of sales is a measure of the uselessness of the survey. The NAHB survey is ruined by recency bias and survivorship bias. There are fewer builders dividing a smaller pie today than the housing bubble days. To the surviving builders, who mostly now build only high priced luxury housing, business looks good.

The Present Conditions Index represents one of the 3 questions which this survey asks of builders. This one asks them to rate sales as “good,” “fair” or “poor.” The index is almost back to the levels reached at the peak of the housing bubble.

While sales are terrible, price inflation rages. Economists don’t call it inflation becauses houses don’t count in inflation measures used by economists and the Fed, like the CPI and PCE Inflation measure favored by the Fed. Houses are considered assets, and economists and policy makers narrow the definition of “inflation” to exclude asset prices, particularly house prices. So the 13.5% year to year increase in new house prices is “appreciation,” not inflation.

While this measure is volatile, the trend is absolutely clear. It makes new housing less and less affordable for more and more American households. This is another artifact of ZIRP.

What growth there was in new home sales since the bottom in 2010 was only a result of the demographic trend of growing numbers of baby boomers entering the second home and retirement home markets. They moved South. Even that recovery has stalled this year. There has been no recovery whatsoever in the Northeast or the Midwest. September sales in the Northeast hit a new all time low. The West has continued to show some increase but its sales in September were only 36% of the level reached in 2005.

Considering that demographics drove most of the recovery in new house sales, we can deduce that ZIRP didn’t contribute to the recovery. Aging boomers are often cash buyers who would liquidate their existing home to make this move.

This chart shows September sales by region in thousands since 2002, just before the housing bubble took off.

At the US median household income of approximately $52,000 per year, households at or below the median can, with a small down payment, typically afford to purchase a home priced not more than $200,000 based on standard qualifying ratios. Sales in that price range just set a new September record low. Builders simply find it far more profitable to sell fewer houses at higher prices than to appeal to a mass market.

With near zero money costs, builders can afford to take longer to build larger houses with more expensive and profitable features. It enables them to build fewer, more profitable houses, and wait for the fewer upper income buyers to appear who can purchase them. Builders don’t need to build more houses faster to make money. They have no incentive to build mass market housing. In fact, their incentive has been to do the opposite. ZIRP has worked to the detriment the US median income family.

This chart shows total September sales in thousands for houses priced at $200,000 and less.

So the US housing market has had a 4 year dead cat bounce that hasn’t helped most Americans, hasn’t meaningfully contributed to US economic recovery, and now appears to be stalling. To the degree that this industry rebounded, it was driven by a demographic trend, not monetary policy. QE and ZIRP created perverse incentives to business to gamble and speculate, not to make real investments in growing their business in the US and providing good paying jobs that would enable American households to buy homes.

Today’s War Against Deflation Will Make Us All Poorer

Also, the growth momentum of the UK CPI fell into the negative in September with the yearly growth rate closing at minus 0.1 percent from 0 percent in August and 1.2 percent in September last year.

The growth momentum of China’s CPI eased in September with the yearly growth rate falling to 1.6 percent from 2 percent in August.

Deflation Fears Gain Steam

Consequently, many experts are expressing concern regarding the declining growth momentum of the CPI and are of the view that rather than tightening the monetary stance, central banks should loosen their stance further in order to counter the emergence of deflation, which is regarded as a major threat to economic well-being of individuals.

For most experts, deflation is bad news since it generates expectations of a decline in prices. As a result, they believe, consumers are likely to postpone their buying of goods at present since they expect to buy these goods at lower prices in the future.

This weakens the overall flow of spending and in turn weakens the economy. Hence, such commentators believe that policies that counter deflation will also counter the slump.

Will Reversing Deflation Prevent a Slump?

If deflation leads to an economic slump, then policies that reverse deflation should be good for the economy, so it is held.

Reversing deflation will simply involve introducing policies that support general increases in the prices of goods, i.e., price inflation. With this way of thinking inflation could actually be an agent of economic growth.

According to most experts, a little bit of inflation can actually be a good thing. Mainstream economists believe that inflation of 2 percent is not harmful to economic growth, but that inflation of 10 percent could be bad for the economy.

There’s good reason to believe, however, that at a rate of inflation of 10 percent, it is likely that consumers are going to form rising inflation expectations.

According to popular thinking, in response to a high rate of inflation, consumers will speed up their expenditures on goods at present, which should boost economic growth. So why then is a rate of inflation of 10 percent or higher regarded by experts as a bad thing?

Clearly there is a problem with the popular way of thinking.

Price Inflation vs. Money-Supply Inflation

Inflation is not about general increases in prices as such, but about the increase in the money supply. As a rule the increase in the money supply sets in motion general increases in prices. This, however, need not always be the case.

The price of a good is the amount of money asked per unit of it. For a constant amount of money and an expanding quantity of goods, prices will actually fall.

Prices will also fall when the rate of increase in the supply of goods exceeds the rate of increase in the money supply.

For instance, if the money supply increases by 5 percent and the quantity of goods increases by 10 percent, prices will fall by 5 percent.

A fall in prices cannot conceal the fact that we have inflation of 5 percent here on account of the increase in the money supply.

The Problem Is Really Wealth Formation, not Rising Prices

The reason why inflation is bad news is not because of increases in prices as such, but because of the damage inflation inflicts to the wealth-formation process. Here is why:

The chief role of money is the medium of exchange. Money enables us to exchange something we have for something we want.

Before an exchange can take place, an individual must have something useful that he can exchange for money. Once he secures the money, he can then exchange it for the good he wants.

But now consider a situation in which the money is created “out of thin air,” increasing the money supply.

This new money is no different from counterfeit money. The counterfeiter exchanges the printed money for goods without producing anything useful.

He in fact exchanges nothing for something. He takes from the pool of real goods without making any contribution to the pool.

The economic effect of money that was created out of thin air is exactly the same as that of counterfeit money — it impoverishes wealth generators.

The money created out of thin air diverts real wealth toward the holders of new money. This weakens the wealth generators ability to generate wealth and this in turn leads to a weakening in economic growth.

Note that as a result of the increase in the money supply what we have here is more money per unit of goods, and thus, higher prices.

What matters however is not that price rises, but the increase in the money supply that sets in motion the exchange of nothing for something, or “the counterfeit effect.”

The exchange of nothing for something, as we have seen, weakens the process of real wealth formation. Therefore, anything that promotes increases in the money supply can only make things much worse.

Why Falling Prices Are Good

Since changes in prices are just a symptom, as it were — and not the primary causative factor — obviously countering a falling growth momentum of the CPI by means of loose a monetary policy (i.e., by creating inflation) is bad news for the process of wealth generation, and hence for the economy.

In order to maintain their lives and well-being, individuals must buy goods and services in the present. So from this perspective a fall in prices cannot be bad for the economy.

Furthermore, if a fall in the growth momentum of prices emerges on the back of the collapse of bubble activities in response to a softer monetary growth then this should be seen as good news. The less non-productive bubble activities that are around the better it is for the wealth generators and hence for the overall pool of real wealth.

Likewise, if a fall in the growth momentum of the CPI emerges on account of the expansion in real wealth for a given stock of money, this is obviously great news since many more people could now benefit from the expanding pool of real wealth.

We can thus conclude that contrary to the popular view, a fall in the growth momentum of prices is always good news for the wealth generating process and hence for the economy.

EXPOSED: The Terrifying Truth About What We Are Facing In The Future 

Massive Inflation Has Been Caused By The Fed’s ZIRP… maybe not yet in standard CPI or PCE measurement terms – but while market participants are not paying any more monetary interest to the Fed, the interest being paid for their financial policy decisions has exploded over the last years. During the press conferences of the recent FOMC meetings, millions of well-educated investment professionals will have been sitting in front of their screens, chewing their fingernails, listening as if spellbound to what Janet Yellen has to tell them. Will she finally raise the federal funds rate that has been zero bound for over six years?

Obviously, each decision is accompanied by nervousness on the markets. Investors are fixated by a fidgety curiosity ahead of each Fed decision and fail to meticulously observe Janet Yellen and the FOMC and engage in monetary ornithology on doves (growth- and employment-oriented FOMC members) and hawks (inflation-oriented FOMC members); they also hope for some enlightening information from Ben Bernanke. According to Reuters, some market participants paid some $250,000 just to join one of several dinners, where the ex-chairman spilled the beans.

Apparently, he does not expect the federal funds rate to return to its long-term average of about 4% during his lifetime. In a conversation, Bernanke stated that a rate hike would only be possible in an environment in which “the U.S. economy is growing strongly enough to bear the costs of higher rates”. Moreover, a rate increase would have to be clearly communicated and anticipated by the markets – not to protect individual investors from losses, but rather to prevent jeopardizing the stability of the “system as a whole”.

It is on the one hand axiomatic that ZIRP cannot be a permanent fixture. Furthermore, Janet Yellen has been tweeting on about increasing rates for almost two years now. How much more lead time will it require to prepare the markets? In September, she once again chickened out, even though we are not talking about hiking the rate back to “monetary normalcy” in one blow. The decision on the table is whether or not to increase the rate by a trifling quarter point! It simply about a smooth beginning of a long drawn out and cautiously managed tightening process.

The Fed’s quandary can be understood a little better by examining what “monetary normalcy”, or a “normal interest rate”, is supposed to be. Or even more fundamentally: what is an interest rate? We “Austrians” understand an interest rate as an expression of market participants’ time preference. The underlying assumption is that people are inclined to consume a certain product sooner rather than later. Hence, if savers restrict their current consumption and provide the resources for investment instead, they do so only on condition that they will be compensated by increased consumptive opportunities in the future.

In free markets, the interest rate can be regarded as a measure of the compensation payment, where people are willing to trade present goods for future goods. Such an interest rate is commonly referred to as the “natural interest rate”. Consequently, the FOMC bureaucrats would ideally specify a “normal interest rate” that equals the “natural” one. This is, however, not very likely for the same reason that all forms of central planning and price dictation have to fail: a lack of knowledge on the part of the planners!

When resources are invested, this implies that they are tied in an irreversible process to a very concrete form and function. Since this is happening in all nooks and crannies of an economy where individuals detect potential for profit by means of their specific knowledge, capital should be understood as a heterogeneous structure resulting from evolutionary dynamics. Under free market conditions with a corresponding natural interest rate, this capital structure would be tailored according to the preferences of the people.

If the most important price in an economy, namely the price of credit, is subject to manipulation, this causes serious distortions in the capital structure. In the event of a liquidity crisis, artificially low interest rates may temporarily have a positive effect by fostering lending and hence compensating for excessive skepticism amongst market participants. As a permanent means, however, it triggers malinvestments, i.e. investments that would be unprofitable under normal conditions – hence, there is an increase in total investment and, at the same time, an incentive to consume more and save less.

How is this possible? How can more investment projects be launched while the pool of resources at the same time is in decline? It is only seemingly possible, as in a fiat money system credit can be generated ex nihilio. The lower the interest rate, the more the markets are flooded with credit.

ZIRP was introduced six years ago in response to the financial crisis, and three QE programs have been conducted. This so-called “unconventional monetary policy” is supposed to be abandoned as soon as the economy has gathered pace. Despite the tremendous magnitude of these market interventions, the momentum in the US economy is rather lame. Weak Q1 data, which probably resulted from a weak trade balance due to a 15% rise of the USD, shocked even the most pessimistic of analysts; the OECD and the IMF have revised down their 2015 growth estimates. A long-lasting, self-sustaining growth is out of the question. This confirms the assumption that ZIRP fuels everything under the sun (see The Unseen Consequences of Zero-Interest-Rate Policy) but long-term productive investment.

And what about unemployment and inflation that are key elements of the Fed’s mandate? The conventional unemployment rate (U3) has returned to its long-run normal level, so the view prevails that things are developing well. However, those figures conceal a participation rate that has fallen by more than 3% since 2008, indicating that some 2.5 million Americans are currently no longer actively looking for a new job. However, should the economic situation improve, they would likely rejoin the labor force. Furthermore, the proportion of those only working part-time due to a lack of full-time positions is much higher now than before the crisis. “True” unemployment currently stands rather at about 7,25%.1

With regard to inflation, the Fed’s target is 2%, as measured by growth of the PCE-index. This aims to buffer the fiat money system against the threat of deflation, i.e. against sinking prices, as in such an environment the debt-servicing capacity of market participants (e.g. governments, private enterprises, financial institutions, private households) would come under intense pressure and likely trigger a chain reaction in which loans collapse and the monetary system implodes. However, in many countries, and among them the USA, inflation is remarkably low – partly due to transitory effects of lower energy and import prices –, while low interest rates have merely weaved their way to asset price inflation so far. As price reactions to monetary policy maneuvers may occur with a lag of a few years, we should expect that sooner or later inflation will also spill over to normal markets.

Whereas as a response to the development of economic and employment data an intrepid rate hike is scarcely likely, an inflation-induced rate hike could occur anytime. Considering the current composition of the FOMC, which is extremely dovish – implying inflation-sensitive voices are relatively underrepresented – gives rise to the suspicion that this is not very likely the scenario in the short term. One is concerned about the economic development, which has a shaky foundation and headwinds from other parts of the world: it appears that growth has cooled down sustainably in the BRICS countries – Antichrist Communist China might be on the brink of a severe recession. (Indeed, Antichrist Communist China was possibly the most decisive factor to nudge the Fed away from raising rates in September.) This implies that world- wide interest rates will remain at very low levels and a significant rate hike in the USA would represent a sharp deviation in this environment, entraining massive competitive disadvantages.

The markets are noticeably pricing out a significant rate hike. Rate cuts are one-way streets, the production structure has long since adapted to ZIRP and “short-term gambling, punting on momentum-driven moves, on levered buybacks” are further lifting the opportunity costs of abandoning it. In order to try to rescue its credibility, the Fed may decide to try some timid, quarter- point alibi increases. But what will they do if markets really crash? Indeed, they are terrified of the avalanche that they might trigger! If there are be any symptoms that portend calamity, the Fed will inevitably return to ZIRP, launch a QE4, or might even introduce negative interest rates. Hence, there does not seem to be a considerable degree of latitude such that a return to conventional monetary policy could seriously be expected.

“The Fed is raising the rates!” – This has become a running gag.

The President of the Czech Republic has accused migrants and refugees ‘with iPhones’ of exploiting their children to get asylum in the EU. President Milos Zeman claimed that migrants are not in desperate need, but are economically wealthy and are using their children in order to gain sympathy from Europe.
His outburst comes just days after the United Nation’s human rights chief accused Prague of systematically detaining migrants and refugees in degrading conditions to put off others.

Migrants are using children ‘as human shields for men with iPhones’ to justify arriving in Europe, says Czech Republic’s president

In his latest outburst, Zeman accused the thousands of refugees and economic migrants who have arrived in Europe this year of being ‘wealthy’, something which he claims is proven by the fact that they have smartphones.

He accused them of risking their children’s lives crossing the Mediterranean in order to use them to secure a right to remain in the EU.

‘They serve as human shields for guys with iPhones to justify the wave of migrants,’ President Milos Zeman said in an interview with a Czech tabloid. ‘Those hiding behind the children … in my opinion, do not deserve any compassion,’ added the outspoken veteran leftwinger.

‘They bring the children over in rubber dingys, knowing they might drown,’ said Zeman, in office since 2013 as the Czech Republic’s first-ever directly elected president. The statements follow his earlier fiery remarks targeting refugees, including ‘no one invited you here.’

Zeman also recently said migrants would ‘respect sharia (Antichrist Islamic law) instead of Czech laws’ and that ‘unfaithful women will be stoned and thieves will have their hands cut off.’

He has lashed out at Islamic women wearing the veil saying ‘we’ll be deprived of women’s beauty, because they’ll be covered from head to toe.

The Antichrist Muslim Invasion of Europe Is Picking Up Where Hitler Left Off 

On Monday, we brought you a series of still shots along with a video which depicted the scope of Europe’s migrant crisis via drone footage.

The point in highlighting the imagery was to demonstrate just how futile the EU’s effort to establish a series of refugee “holding camps” along the Balkan route to Germany is likely to be.

As a reminder, Jean-Claude Juncker and Angela Merkel are attempting to convince recalcitrant states to support efforts to place hundreds of thousands of asylum seekers, but a mandatory quota system only served to enrage the likes of Hungary which quickly moved to close off its borders with Serbia and Croatia and that, in turn, set off a Balkan border battle.

This Is What The “Invasion Of Europe” Looks Like 

Now, Brussels is looking to provide shelter for the migrants as they make their way to Germany but as we noted earlier this week, these way stations will swiftly become overcrowded, unsafe refugee internment camps and they’ll likely be easy targets for vociferous anti-migrant protests or worse.

If you needed further evidence of the extent to which any attempt to shelter the flood of asylum seekers with makeshift camps is likely to prove not only futile, but dangerous, consider the following video which vividly demonstrates just how acute the crisis has become:

As you can see, the situation is quickly spiraling out of control and it isn’t at all clear that Europe can cope with the people flows even if it wanted to. This is nothing short of an epochal demographic shift and as we’ve documented on a number of occasions (see here and here for instance), it’s not at all clear that Europeans are prepared for it.

Caution: xenophobia ahead.

Over the past seven years, Antichrist NWO 666 Barack Obozo The 911 Homosexual Climate Change Clown has ushered in numerous changes to America, many of which have brought serious consternation to large numbers of American citizens.

For example, Obozo’s blatant disregard for American borders, language, and culture have caused the president to ignore existing immigration laws in favor of policies which encourage illegal immigration as part of his stated objective to “fundamentally transform America” from a Caucasian heritage to one in which people of color, and their language and cultures, are the majority.

Indeed, Obozo seems perfectly content to aid in the Reconquesta movement, which would empower Mexicans to re-take American land and claim such as their own, despite accords reached in
The 1848 Treaty of Guadalupe Hidalgo which ended the US-Mexican war in the 19th century.

While aggressively moving to surrender America to third-world Mexico, Obozo is simultaneously acting to bring large numbers of Antichrist Muslims into America, without appropriate oversight to screen out Antichrist Jihadists and potential terrorists.

This policy is consistent with Obozo’s naïve notion that America is not at war with Antichrist Islam, a position which utterly fails to recognize that Antichrist Islam is very much at war with America and American allies like Israel!

Obozo appears willing to abide, or even sponsor, Antichrist Muslim dominance of the US in a manner akin to that which is dividing and destroying Europe.

This is the future progressive immigration policies are bringing to Europe today and the United States tomorrow.

In the streets, you can hear German women talking about Islamists marching through their town.

Their voices and words display panic and fear:

While Obozo and progressive politicians salivate at the prospects of millions of new Democrat voters in the form of illegal aliens from South of our border and Antichrist Muslim refugees, little or no thought has been given to how these disparate groups might interact.

Will conflicts between Reconquesta soldiers and Jihadists lead to continual unrest and violence?

What will be the official language? Will Reconquesta devotees be required to observe Antichrist Ramadan and other Antichrist Muslim traditions?

Will decapitations supplant soccer as the most favored sport?

Will Antichrist Jihadists be forced to speak Spanish and eat pork-laden tacos on Cinco de Mayo?

Most important of all: Will future Americans ultimately decide that multiculturalism is a foolish waste of time that needlessly pits people against people?

PANIC AS ANTICHRIST MUSLIM MIGRANTS MARCH THROUGH HANNOVER AND CLAIM GERMANY FOR ANTICHRIST (a)LLAH 

Last week in the town of Hannover in Germany, Antichrist Muslim migrants, no longer pretending to be “refugees”, marched through the city streets waving the black flag of Antichrist ISIS and claiming the land for Antichrist (a)llah. I don’t know how many times we have to say it – but – they are not refugees and they are not migrants. They are Antichrist Islamic jihadis who are acting en masse to claim Europe for Antichrist (a)llah and Antichrist Islam. They are not assimilating and they will not assimilate into the culture of their host nations. They will demand that you submit to the Antichrist Sharia, and guess what? That’s exactly what’s happening. In England, it has already happened. If you ever wanted to know what it was like to watch the downfall of a major nation, you’re looking at it. This is what they desperately want to do in America, and Obozo is helping them to do it.

Battlefield America: Blood Will Run In the Streets 

A federal appeals court said police violated the free speech rights of Christian evangelists by telling them to leave a June 2012 Arab-American festival in Dearborn, Michigan after an angry crowd began pelting them with bottles, eggs and other objects.

By an 8-7 vote, the entire 6th U.S. Circuit Court of Appeals on Wednesday said Wayne County, Michigan and two deputy police chiefs were civilly liable to members of Bible Believers for violating their First Amendment rights.

The case now returns to a federal district judge to award damages and attorney’s fees.

Christian evangelists win Michigan speech case over Arab festival 

THE US- ANTICHRIST IRAN RELATIONSHIP REMAINS TENSE AND FRICTION-FILLED, DESPITE THE US-LED WORLD POWERS’ DEAL WITH ANTICHRIST IRAN, SEALED IN JULY, ON CURBING ITS NUCLEAR PROGRAM..

ANTICHRIST IRAN COMMANDERS TO SEND ‘FLEET OF WARSHIPS’ TO THE ATLANTIC OCEAN 

The Antichrist Netanyahu 911 administration has told New Zealand not to try its reported attempt to resurrect the “peace process” through the United Nations Security Council.

Netanyahu 911 Tells New Zealand to Forget about ‘Peace Process’

New Zealand now is a non-permanent member of the Security Council and reportedly is preparing a draft resolution for Israel and the Palestinian Authority to resume talks.

Channel 2 television said that government security advisers called New Zealand’s ambassador to Israel, Jonathan Curr, for a meeting on Wednesday and told him to forget the idea.

UN warns of Israel-Palestinian ‘catastrophe’ as attacks persist

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