All Time Market High Black Hole Bastille Day Nice Attack & Jive Turkey False Flag Coup To Seal Edrogen’s Antichrist Muslim Power

by amongthenumberedsaints

The Antichrist NWO 666 Central Banker Cabal Need To Detonate A WMD(Will It Happen Before The American Election Or After?)

Author Tom Horn says the Antichrist Islamic State has a weapon of mass destruction they will detonate in the next year or two.

“It’s going to cause Muslims to believe that their war is playing out according to their hadith (Islamic prophecy),” Horn tells Zach Drew. “It’s going to cause the Catholics to really start talking about the final Roman emperor. They’re going to believe it’s a fulfillment of their apocalyptica. But there are some other things.”

Tom Horn: Antichrist ISIS Will Detonate a Weapon of Mass Destruction

EXCLUSIVE: Antichrist Iran conducts 4th missile test since signing nuke deal

On the surface, things seem pretty quiet in mid-July 2016. The biggest news stories are about the speculation surrounding Donald Trump’s choice of running mate, the stock market in the U.S. keeps setting new all-time record highs, and the media seems completely obsessed with Taylor Swift’s love life. But underneath the surface, it is a very different story. As you will see below, the conditions for a “perfect storm” are coming together very rapidly, and the rest of 2016 promises to be much more chaotic than what we have seen so far.

Let’s start with Antichrist Communist China. On Tuesday, an international tribunal in the Hague ruled against Antichrist Communist China’s territorial claims in the South China Sea. The Antichrist Communist Chinese government announced ahead of time that they do not recognize the jurisdiction of the tribunal, and they have absolutely no intention of abiding by the ruling. In fact, Antichrist Communist China is becoming even more defiant in the aftermath of this ruling. We aren’t hearing much about it in the U.S. media, but according to international news reports Antichrist Communist Chinese president Xi Jinping has ordered the People’s Liberation Army “to prepare for combat” with the United States if the Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown administration presses Antichrist Communist China to abandon the islands that they are currently occupying in the South China Sea…

“Antichrist Communist Chinese president Xi Jinping has reportedly ordered the Antichrist Communist People’s Liberation Army to prepare for combat,” reports Arirang.com. “U.S.-based Boxun News said Tuesday that the instruction was given in case the United States takes provocative action in the waters once the ruling is made.”

A U.S. aircraft carrier and fighter jets were already sent to the region in anticipation of the ruling, with the Antichrist Communist Chinese Navy also carrying out exercises near the disputed Paracel islands.

Last October, Antichrist Communist China said it was “not frightened” to fight a war with the U.S. following an incident where the guided-missile destroyer USS Lassen violated the 12-nautical mile zone Antichrist Communist China claims around Subi and Mischief reefs in the Spratly archipelago.

Meanwhile, the relationship between the United States and Russia continues to go from bad to worse. The installation of a missile defense system in Romania is just the latest incident that has the Russians absolutely steaming, and during a public appearance on June 17th Russian President Vladimir Putz Putin tried to get western reporters to understand that the world is being pulled toward war…

“We know year by year what’s going to happen, and they know that we know. It’s only you that they tell tall tales to, and you buy it, and spread it to the citizens of your countries. You people in turn do not feel a sense of the impending danger – this is what worries me. How do you not understand that the world is being pulled in an irreversible direction? While they pretend that nothing is going on. I don’t know how to get through to you anymore.”

And of course the Russians have been feverishly updating and modernizing their military in preparation for a potential future conflict with the United States. Just today we learned that the Russians are working to develop a hypersonic strategic bomber that is going to have the capability of striking targets with nuclear warheads from outer space.

Unfortunately, the Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown  administration does not feel a similar sense of urgency. The size of our strategic nuclear arsenal has declined by about 95 percent since the peak of the Cold War, and many of our installations are still actually using rotary phones and the kind of 8 inch floppy disks for computers that were widely used back in the 1970s.

But I don’t expect war with Antichrist Communist China or Russia to erupt by the end of 2016. Of much more immediate concern is what is going on in the Antichrist Middle East. The situation in Syria continues to deteriorate, but it is Israel that could soon be the center of attention.

War Is Coming And The Global Financial Situation Is A Lot Worse Than You May Think

Back in March, the Wall Street Journal reported that the Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown administration wanted to revive the peace process in the Middle East before Obozo left office, and that a UN Security Council resolution that would divide the land of Israel and set the parameters for a Antichrist Palestinian state was still definitely on the table…

The White House is working on plans for reviving long-stalled Middle East negotiations before Antichrist NWO 666 President Barack Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown leaves office, including a possible (Prophetic Antichrist Covenant With Many) United Nations Security Council resolution that would outline steps toward a deal between the Antichrist Israelis and Antichrist Palestinians, according to senior U.S. officials.

And just this week, the Washington Post reported that there were renewed “rumblings” about just such a resolution…

Israel is facing a restive European Union, which is backing a French initiative that seeks to outline a future peace deal by year’s end that would probably include a call for the withdrawal of Israeli troops and the creation of a Antichrist Palestinian state. There are also rumblings that the U.N. Security Council might again hear resolutions about the conflict.

For years, Antichrist NWO 666 Barack Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown  has stressed the need for a Palestinian state, and now that his second term is drawing to a close he certainly realizes that this is his last chance to take action at the United Nations. If he is going to pull the trigger and support a UN resolution formally establishing a Antichrist Palestinian state, it will almost certainly happen before the election in November. So over the coming months we will be watching these developments very carefully.

And it is interesting to note that there is an organization called “Americans For Peace Now” that is collecting signatures and strongly urging Obozo to support a UN resolution of this nature. The following comes from their official website…

Now is the time for real leadership that can revive and re-accredit the two-state solution as Antichrist NWO 666 President Obozo 911 Homosexual Climate Change no Boots SPECTRE Clown enters his final months in office. And he can do this – he can lay the groundwork for a two-state agreement in the future by supporting an (THE PROPHETIC ANTICHRIST) Israeli-Palestinian two-state resolution in the United Nations Security Council.

Such a resolution would restore U.S. leadership in the Israeli-Palestinian arena. It would preserve the now-foundering The Antichrist prophetic two-state outcome. And it would be a gift to the next president, leaving her or him constructive options for consequential actions in the Antichrist Israeli-Palestinian arena, in place of the ever-worsening, politically stalemated status quo there is today.

Sadly, a UN resolution that divides the land of Israel and that formally establishes a Antichrist Palestinian state would not bring lasting peace. Instead, it would be the biggest mistake of the Obozo era, and it would set the stage for a major war between Israel and her neighbors. This is something that I discussed during a recent televised appearance down at Morningside that you can watch right here…

At the same time all of this is going on, the global economic crisis continues to escalate. Even though U.S. financial markets are in great shape at the moment, the same cannot be said for much of the rest of the world.

Just look at the country that is hosting the Olympics this summer. Brazil is mired in the worst economic downturn that it has seen since the Great Depression of the 1930s, and Rio de Janeiro’s governor has declared “a state of financial emergency“.

Next door, the Venezuelan economy has completely collapsed, and some people have become so desperate that they are actually hunting cats, dogs and pigeons for food.

Elsewhere, Antichrist Communist China is experiencing the worst economic downturn that they have seen in decades, the Japanese are still trying to find the end of their “lost decade”, and the banking crisis in Europe is getting worse with each passing month.

In quite a few articles recently, I have discussed the ongoing implosion of the biggest and most important bank in Germany. But I am certainly not the only one warning about this. In one of his recent articles, Simon Black also commented on the turmoil at “the most dangerous bank in Europe”…

Well-capitalized banks are supposed to have double-digit capital levels while making low risk investments.

Deutsche Bank, on the other hand, has a capital level of less that 3% (just like Lehman), and an incredibly risky asset base that boasts notional derivatives exposure of more than $70 trillion, roughly the size of world GDP.

But of course Deutsche Bank isn’t getting a lot of attention from the mainstream media right now because of the stunning meltdown of banks in Italy, Spain and Greece. Here is more from Simon Black…

Italian banks are sitting on over 360 billion euros in bad loans right now and are in desperate need of a massive bailout.

IMF calculations show that Italian banks’ capital levels are among the lowest in the world, just ahead of Bangladesh.

And this doesn’t even scratch the surface of problems in other banking jurisdictions.

Spanish banks have been scrambling to raise billions in capital to cover persistent losses that still haven’t healed from the last crisis.

In Greece, over 35% of all loans in the banking system are classified as “non-performing”.

Even though U.S. stocks are doing well for the moment, the truth is that trillions of dollars of stock market wealth has been lost globally since this time last year. If you are not familiar with what has been going on around the rest of the planet, this may come as a surprise to you. During my recent appearance at Morningside, I shared some very startling charts which show how dramatically global markets have shifted over the past 12 months. You can view the segment in which I shared these charts right here…

I would really like it if the rest of 2016 was as quiet and peaceful as the past couple of days have been.

Unfortunately, I don’t believe that is going to be the case at all.

The storm clouds are rising and the conditions for a “perfect storm” are brewing. Sadly, most people are not going to understand what is happening until it is far too late.

Emergency Meeting In Russia: State Department / White House Acting Strange 

The FBI told police in South Florida it knew of a “credible threat”

A joint task force of law enforcement said the public was not in danger

FBI issues ‘credible threat’ warning to South Florida law enforcement.

Police departments across South Florida took precaution

REALIST NEWS – The Big Event at the DC Mall Tomorrow – Ripe for a False Flag?

The Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown administration has released “tens of thousands” of illegal aliens convicted of crimes in the U.S. because their home countries refused to take them back.

And a “substantial number” of those involve serious crimes, a government official said Thursday during a House Oversight and Government Reform Committee on so-called recalcitrant countries.

Nations like Antichrist Communist China, Liberia and Guinea often refuse to take back their own citizens after being convicted of crimes in the U.S.

The issue entered the national spotlight here after a Haitian national named Jean Jacques killed 25-year-old Casey Chadwick last year in her Connecticut apartment after being released from prison after serving 17 years in prison for attempted murder. Immigration and Customs Enforcement (ICE) was unable to deport Jacques back to Haiti because the Caribbean nation refused to take him back.

Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown  Admin Has Released ‘Tens Of Thousands’ Of Criminal Illegal Aliens Because Their Home Countries Won’t Take Them Back

He had some parting thoughts about “eliminating” the Antichrist ISIS threat: “We can take care of these Antichrist ISIS thugs in about a month.” One still wonders why that hasn’t happened…

“This Is Going To Get Very Ugly” – Former Top CIA Officer Says “Obozo Has Lost Control Of The Middle East”.

Antichrist Islamic State claimed responsibility for the truck attack on the French city of Nice on Saturday as French police arrested three people there in connection with the carnage that claimed the lives of at least 84 people.

“The person who carried out the operation in Nice, France, to run down people was one of the soldiers of Antichrist Islamic State,” the news agency Amaq, which supports Antichrist Islamic State, said via its Telegram account.

“He carried out the operation in response to calls to target nationals of states that are part of the coalition fighting Antichrist Islamic State,” the statement said.

Antichrist ISIS claims responsibility for Nice attack.

A French government committee has heard testimony, suppressed by the French government at the time and not published online until this week, that the killers in the Bataclan appear to have tortured their victims on the second floor of the club.

The chief police witness in Parliament testified that on the night of the attacks, an investigating officer, tears streaming down his face, rushed out of the Bataclan and vomited in front of him just after seeing the disfigured bodies.

The 14-hour testimony about the November attacks took place March 21st.

According to this testimony, Antichrist Wahhabist killers reportedly gouged out eyes, castrated victims, and shoved their testicles in their mouths. They may also have disemboweled some poor souls. Women were reportedly stabbed in the genitals – and the torture was, victims told police, filmed for Daesh or Antichrist Islamic State propaganda. For that reason, medics did not release the bodies of torture victims to the families, investigators said.

But prosecutors at the hearing claimed these reports of torture were “a rumor” on the grounds that sharp knives were not found at the scene. They also claimed that maybe shrapnel had caused the injuries.

Q. For the information of the Commission of Inquiry….can you tell us how you learned that there had been acts of barbarism within the Bataclan: beheadings, evisceration, eyes gouged out …?

Investigator: After the assault, we were with colleagues at the passage Saint-Pierre Amelot when I saw weeping from one of our colleagues who came outside to vomit. He told us what he had seen.

Q. Acts of torture happened on the second floor?
Further on the investigator described how this was kept from relatives:

A. Bodies have not been presented to families because there were beheaded people there, the murdered people, people who have been disemboweled . There are women who had their genitals stabbed.

Q. All this would have been videotaped for Daesh !

A. I believe so. Survivors have said so.
Elsewhere, the investigator says, women were sexually tortured, stabbed in the genitals, and their eyes were plucked out. People were decapitated.

French Government Forced To Admit It “Suppressed News Of Gruesome Torture” At Bataclan Massacre.

The clerk of the inquiry (or “rapporteur”) pressed the chief of committee for clarity on whether victims were decapitated or mutilated. The committee chief replied that the authorities had given out conflicting information that said victims were merely shot or blown up. He then added this damning statement about one victim’s father discovering the gruesome truth in the morgue:

Mr. President Georges Fenech Indeed, the Committee is troubled by this information which has appeared nowhere [in the media]. Thus, the father of one of the victims sent me a copy of a letter he sent to the investigating judge, which I quote in summary: “On the causes of the death of my son A., at the forensic institute in Paris, I was told, and what a shock it was for me at that moment, they had cut off his testicles, had put them in his mouth, and he was disemboweled. When I saw him behind glass, lying on a table, a white shroud covering it up to the neck, a psychologist was with me. He said: This is “the only presentable part, your son’s left profile.” I found that he had no right eye. I made the remark; I was informed that they had punctured his eye and sliced down the right side of his face, where there was a very large hematoma that we could all see. ”

This particular witness could corroborate the statements that we heard from one of the BAC officials, that one of his investigators vomited immediately on leaving the Bataclan after finding a decapitation and evisceration. Are you aware of such facts?

A prosecutor appearing before the inquiry replied lamely that no sharp knife had been found at the scene that could have been used for torture. Perhaps shrapnel had caused the mutilation, he said. The head of the committee asked if an explosion would have placed testicles in a victim’s mouth:

Prosecutor: I specify, for the sake of clarity: some of the bodies found at the Bataclan were extremely mutilated by the explosions and weapons, to the point that it was sometimes difficult to reconstruct the dismembered bodies. In other words, injuries described this father may also have been caused by automatic weapons, by explosions or projections of nails and bolts that have resulted.

Q. Would those have put a man’s balls in in his own mouth?

Prosecutor: I do not have that information.
The news follows reports that German police sat on the huge number of sexual assaults committed by Islamist migrants in Cologne, which a secret report estimated at thousands, not hundreds.

What is there to add? Why suppress it? Is this just more disgusting appeasement, pandering, and suppression to ensure some fear-based control.. but not total economically-crushing terror? Tell The Truth!!

LIVE: BREAKING Attempted Military Coup Underway In Turkey

With the Vehicular Jihad in France, military coup in Turkey, and threat of communist revolution in America, has Satan finally overplayed his hand? Today on TRUNEWS, Rick Wiles will discuss these developments, the declassified 9/11 28 page report, and a Christian call for a Day of Praise. In part 2, Rick is joined by Mychal Massie who shares the Instigator-in-Chief’s plan to start a race war.

WATCH Turkey Coup: Live Stream & Videos You Need to See

Turkey #BREAKING

The Moment Turkish Army opens Fire on Civilians.

Turkey Military Coup: Helicopter Seen Firing Shots

Turkey Coup: Tank Runs Over Multiple Cars

Tank Drives Over Citizen

Turkey: Dead bodies litter streets of Ankara following coup violence *GRAPHIC*

F-16 bombing government building in Ankara.

HUGE Explosion near Turkish Parliament in Ankara

Turkey Coup: Bomb Attack at Parliament in Ankara

Video shows damage inside Turkey’s parliament after coup attempt

TURKISH MILITARY COUP: Chaos in Ankara as armed forced attempt to overthrow Erdogan.

LIVE: BREAKING!! MILITARY COUP UNDERWAY IN TURKEY!! TRT NEWS STATION DESTROYED!! MARTIAL LAW TURKEY!

Turkish Military Coup: Army Takes Control Of Country, Declares Martial Law; Erdogan Urges Turks “Resist Coup To Death”

Soldiers fire at people on Istanbul’s Bosporus bridge, some injured – reports

ISTANBUL/ANKARA, -Forces loyal to Turkey’s government fought on Saturday to crush the last remnants of a military coup attempt which collapsed after crowds answered President Tayyip Erdogan’s call to take to the streets and dozens of rebels abandoned their tanks.

More than 160 people were killed, including many civilians, after a faction of the armed forces tried to seize power using tanks and attack helicopters. Some strafed the headquarters of Turkish intelligence and parliament in the capital, Ankara, and others seized a major bridge in Istanbul.

Erdogan accused the coup plotters of trying to kill him and launched a purge of the armed forces, which last used force to stage a successful coup more than 30 years ago.

Antichrist Jive urkish forces fight to crush coup remnants after Erdogan returns

When we described the aftermath of Turkey’s failed, and painfully disorganized military coup attempt, we asked rhetorically, “Who wins?” To which we answered: “Why Erdogan of course. As he said during a press conference upon his arrival back in Istanbul in the early Saturday morning hours, the coup is an opportunity to “to purge the military.” Erdogan also vowed to exact “the highest price” from the perpetrators. Or, to summarize, the military said Erdogan’s power consolidation justifies the attempted coup; Erdogan said the coup justifies further consolidation of power.”

Overnight, when analyzing the market’s take of the coup, Renaissance Capital’s Michael Harris said that “for markets to respond positively, we think Erdogan must go the reconciliation route, pledging not to hold elections for the coming year and committing to a consensus approach to constitutional change. More likely, though, Erdogan will seek to leverage this into a constitutional super-majority via a snap election.”

Their conclusion: “A military coup has failed, but if Erdogan responds to this historic moment the wrong way, a democratic coup could be the result.”

Not surprisingly, as of this morning, Erdogan is indeed responding to this historic moment the “wrong way.” But before we get to that point, there are questions whether this coup was even that.

As a NYT analyst on the ground pointed out, confirming what we said last night, the planning, organization and implementation of the attempted military overthrow were suspect at best and outright laughable at worst:

The Counter-Coup Begins: Erdogan Purges 2,745 Judges, Prosecutors; Arrests Hundreds.

We don’t have to remind readers that when military coups take place in the middle-east, they are i) ruthless, ii) extremely well-organized and planned, and iii) succeed on virtually every occasion. But not this one. The question why is what the media (or at least its fringes) will be pondering over the next few days and weeks.

What there is no question about, however, is Erdogan’s response, which as he warned last night, would begin with a quick crackdown against the army. As of this moment, hundreds of soldiers have already been arrested.

As AP adds, local NTV television has shown footage of a Turkish colonel and other soldiers being taken into custody at military headquarters. The video shows them being hand-searched by special forces police, their hands behind their heads. Some are later seen kneeling on the ground, their hands still held behind their heads.

According to Hurriyet newspaper’s online edition, some of the privates who were detained told interrogators they were not aware that they were part of a coup attempt. They had been told by commanders they were taking part in military maneuvers. Some said they understood that it was a coup attempt when they saw civilians climb on tanks.

The pro-Erdogan, state-run Anadolu Agency added all soldiers involved in the attempted coup at the military headquarters in the capital, Ankara, have been taken into custody. The report says anti-terrorism police will now conduct a “detailed search” at the headquarters.

However, the real punchline was revealed moments ago when Anadolu said a top body overseeing judges and prosecutors has dismissed 2,745 judges across the country. Anadolu Agency says the emergency meeting of the Judges and Prosecutors High Council was held Saturday, mere hours after Turkish forces quashed an attempted coup, and promptly purged the slate clean of anyone in the judicial branch who was seen as even remotely opposed to Erdogan.

Not just that, both moments ago NTV added that Turkey has issued arrest warrants for 140 appeals court members, as if they also had something to do with the army’s failed putsch.

The report said the meeting was called to discuss disciplinary measures against members suspected of links to the movement led by the U.S.-based Antichrist Muslim cleric Fethullah Gulen. The government says the attempted coup was carried out by a clique within the military loyal to Gulen’s movement.

However, as we reported last night, the cleric Antichrist Muslim Fethullah Gulen, who is currently residing in the US, said he condemned the coup “in the strongest terms.” Gulen, as those who have followed recent Turkish history know, is Erdogan’s quasi-imaginary bogeyman nemesis; Erdogan has repeatedly accused Gulen of plotting a “parallel state” whose intention is to overthrow Erdogan, and has used that strawman narrative as justification to expand his powers and to push for a shift from a parliamentary to a presidential regime.

Gulen wrote in his blog that “As someone who suffered under multiple military coups during the past five decades, it is especially insulting to be accused of having any link to such an attempt. I categorically deny such accusations.”

Was Gulen behind the coup? Hardly. But as over the past several years, the spectre of a Gulen “coup” – now culminating with last night’s events – is all that Erdogan will need to further cement his ruthelss, authoritarian grasp over the country, which this morning, with gun shots still heard in Turkey, began with the cleansing of all judges and prosecutors even remotely critical of the “president.” Recall that just two months ago, we reported that “Erdogan Nears Absolute Power With Appointment Of Puppet Premier, Stripping MPs Of Immunity.”

As of right now, Antichrist Erdogan has removed the two last hurdles on his way to absolute, supreme power: holdouts in Turkey’s judicial branch and in the army.

As such, the path forward for Antichrist Muslim Jive Turkey Erdogan – now left with no domestic opposition whatsoever – is all too clear.

Who Is Behind The Coup In Turkey

Following the failed Turkish coup, U.S. military operations out of Turkey’s giant Incirlik Air Base – critical in the ongoing campaign against Antichrist ISIS – came to a halt Saturday afternoon as the Turkish military closed the airspace around the base and suspended all US-led operations, mostly targeting the Islamic State.

A statement posted by the US embassy in Turkey said that local authorities are denying movements on to and off of Incirlik Air Base adding that the power there has also been cut.

Emergency Message for U.S. Citizens: Incirlik Air Base and Adana Airport Information, July 16

Be advised that local authorities are denying movements on to and off of Incirlik Air Base. The power there has also been cut. Please avoid the air base until normal operations have been restored.

In addition, the Adana airport has re-opened but flights to and from Istanbul and Ankara remain suspended. Please check the website of your airline for up to date flight information before going to the airport.

This was confirmed moments ago by ABC’s Jon Williams:

Jive Turkey Suspends All US Operations Against Antichrist ISIS At Incirlik Airbase, Which Vaults B61 Nuclear Bombs.

The Pentagon’s press secretary, Peter Cook, said Saturday that U.S. officials are working with Turkish officials to get permission to resume air operations as soon as possible following the attempted coup. The U.S. has been flying Air Force A-10 attack planes from Incirlik base as part of its air campaign against the Islamic State. Cook says U.S. Central Command is adjusting flight operations in the anti-IS campaign to minimize the effect of the closure of Turkish airspace. Cook also confirmed that Incirlik lost commercial electrical power.

The also NYT added that Turkish authorities’ suspension of American-led strike missions against the Islamic State was “the first major impact of the coup on the broader allied campaign against the group.”

“At this time, Turkish authorities are not permitting aircraft to depart Incirlik,” an American military official said on Saturday morning.

The American official said the United States was seeking an explanation for the decision and other details. As the NYT adds, the move may reflect a desire by Turkey to control its airspace for a time today, as opposed to any shift on its policy toward Antichrist ISIS, although that remains to be seen especially with Skull&Bones Kerry and Lavrov concluding their agreement on how to extend the “long-term ceasefire” in Syria.

Pentagon officials had said late Friday that the unfolding coup had not affected the bombing and surveillance missions from Incirlik, the opening of which to the allies has enabled commanders to accelerate and intensify airstrikes against Islamic State targets in Iraq and Syria.

Antichrist NWO 666 President Obozo 911 homosexual Climate Change No Boots SPECTRE Clown planned to convene a meeting Saturday morning with his national security and foreign policy team about Turkey.

Unconfirmed media reports have since reported that the airspace has been reopened, but there was no update on the status.

Some have speculated that the airbase may be held “hostage” by Ankara as a bargaining chip ahead of demands for the repatriation of Erdogan’s arch enemy, Gulen, currently a resident of the state of Pennsylvanua. As a reminder, Germany’s Deutsche Welle recently estimated that Incirlik’s vaults currently held 50 B61 nuclear bombs.

Skull&Bones John Kerry Blasts Turkey For Accusing US Of Orchestrating Failed Coup, Admits US Had No Idea It Was Coming

Looking back at the failed Turkish coup, one question that nobody has been able to answer is why, if the coup was indeed a serious attempt at government overthrow, did the organizers not do the first thing that military coups have done since time immemorial: either capture, or simply eliminate the existing ruler, the vacationing president Erdogan?

The following brief story will only add to the confusion (or maybe not).

As Reuters reports, at the height of the attempt to overthrow Turkish President Tayyip Erdogan, the rebel pilots of two F-16 fighter jets had Erdogan’s plane in their sights. And yet he was able to fly on.

The government narrative, completely fabricated as it may be, is the following:

Erdogan said as the coup unfolded that the plotters had tried to attack him in the resort town of Marmaris and had bombed places he had been at shortly after he left. He “evaded death by minutes”, the second official said. Around 25 soldiers in helicopters descended on a hotel in Marmaris on ropes, shooting, just after Erdogan had left in an apparent attempt to seize him, pro-government broadcaster CNN Turk said. Prime Minister Binali Yildirim had also been directly targeted in Istanbul during the coup bid and had narrowly escaped, the official said, without giving details.

Flight tracker websites showed a Gulfstream IV aircraft, a type of business jet owned by the Turkish government, take off from Dalaman airport, which is about an hour and a quarter’s drive from Marmaris, at about 2240 GMT on Friday. It later circled in what appeared to be a holding pattern just south of Istanbul, around the time when a Reuters witness in the airport was still hearing bursts of gunfire, before finally coming in to land.

“Why They Didn’t Fire Is A Mystery” – Coup Pilots Had Erdogan’s Plane In Their Sights And Did Nothing

It is what happened during Erdogan’s trip that is confusing. Again from Reuters:

The Turkish leader was returning to Istanbul from a holiday near the coastal resort of Marmaris after a faction in the military launched the coup attempt on Friday night, sealing off a bridge across the Bosphorus, trying to capture Istanbul’s main airport and sending tanks to parliament in Ankara.

A senior Turkish official confirmed to Reuters that Erdogan’s business jet had been harassed while flying from the airport that serves Marmaris by two F-16s commandeered by the coup plotters but that he had managed to reach Istanbul safely.

“At least two F-16s harassed Erdogan’s plane while it was in the air and en route to Istanbul. They locked their radars on his plane and on two other F-16s protecting him,” a former military officer with knowledge of the events told Reuters.

“Why they didn’t fire is a mystery,” he said.

Actually, now that we have seen the unprecedented crack down on all political opponents including the start of what is set to be a historic witch hunt, it is no mystery at all.

The popular image of Bastille Day, indeed of the French Revolution itself, is that the liberty-loving French folk in Paris spontaneously rose up against a tyrannical king and his haughty wife, and heroically stormed the symbol of the Old Regime — the prison fortress known as the Bastille — liberating hundreds of political prisoners. This led to an abolition of the monarchy and the establishment of a government dedicated to liberty for all the people of France.

Nothing could be further from the truth.

The French Revolution was actually the fruit of decades of radical agitation stirred up by anti-Christian, power-seeking secret societies which drank freely from the poison well of the Enlightenment, and it has served as the template for every radical leftist revolution since that time.

The first dictator of the Soviet Union, Vladimir Lenin, praised the French Revolution as a model for his own, saying, “although it was crushed, the French Revolution was nevertheless triumphant.” It was favorably referenced by other Communists, such as Karl Marx and Ho Chi Minh. Today we can discern the Revolution’s radicalism in the rhetoric of the modern Left.

To understand why such men of the Left so admired the French Revolution, with its savage attacks upon Christianity, liberty, property, and life itself — symbolized by the guillotine for “enemies of the people” — we need only note how and why it came about. This will also reveal why the popular image described above of the storming of the Bastille is a gross fabrication of actual historical events.

Bastille Day Is Nothing to Celebrate

Obviously only so much can be said in a short article; however, to begin: The seeds of the French Revolution were sown in the cafes, coffee houses, and secret societies that emerged in the Enlightenment. This is not to say that the entire Enlightenment was evil, but many of the personalities and ideas which emerged from it were certainly radical. The Enlightenment has been described as a philosophical movement which grew in strength in Europe throughout much of the 18th century. It was marked by an increasing opposition to the existing order, specifically orthodox Christianity.

For example, among the most important events of the Enlightenment was the publication between 1751 and 1772 of the 35-volume Encylopedia, compiled by the intensely anti-Christian Denis Diderot, and others of like mind. The first edition even featured a winged Lucifer on its title page. (One might note that Saul Alinsky dedicated his 1971 book Rules for Radicals to Lucifer, also known as the devil or Satan.) Few Enlightenment figures were openly atheist, but instead held to a new worldview known as deism. Under deism, God is the Creator, but His intervention into human affairs is denied, and the authority of the Bible is questioned, with particular opposition to literal miracles. In other words, it is a religious view which leaves man unrestrained.

Many of these Enlightenment figures became increasingly radical. A radical is defined as a person who desires the destruction of the present society, replacing it with a new order in the world.

With the continuing spread of these ideas — discussed openly in cafes, coffee houses, reading rooms, salons, and the like across Europe — some of these radicals began to discuss revolution, in secret societies.

One of these secret societies, the Bavarian Illuminati, was formed by Adam Weishaupt on May 1, 1776 (note that today Communists around the world celebrate May 1). Weishaupt’s godfather, Johann Adam Freiherr von Ickstatt, raised him after the death of the boy’s father. Ickstatt was deeply into the more radical ideas of the Enlightenment, and passed his rationalist views onto his godson. Weishaupt received his doctorate in law at the University of Ingolstadt, and became a law professor. He envisioned a society of “illumination, enlightening the understanding by the sun of reason, which will dispel the clouds of superstition and of prejudice.”

In his new book, To the Victors Go the Myths and Monuments, John Birch Society CEO Art Thompson lists the major goals of the Illuminati: 1) the destruction of Christianity; 2) the destruction of nations as such in favor of universal internationalism; 3) the discouragement of patriotism and the substitution of the cry for universal brotherhood; 4) the abolition of family ties and marriage by means of systematic corruption; and 5) the suppression of the rights of inheritance and property.

It is obvious that these nefarious goals are largely shared by many on the Left today. Some even postulate that this very same Illuminati is alive and well in our own time, directing an evil conspiracy to achieve this outcome. While it would be difficult to draw a direct line from the Illuminati to modern communists, socialists, and other radicals of our day, perhaps an illustration will help explain the ancestry of the philosophy of today’s radical Left. If a man is standing far back from a wooded area, and watches as a white horse with a brown mane runs into the woods, and a white horse with a brown mane emerges a few minutes later at the other end of the woods, it is safe to assume that it is the same horse.

While there may not even be an organization today which is known as the Illuminati, the basic goals of this organization from the 1700s are the same as those of radical leftists today. Perhaps the name has been changed — to protect the guilty.

Certainly, the ideas found in the Illuminati permeated radical clubs of pre-revolution France. The ruler of Bavaria, Elector Karl Theodor, became alarmed at the subversive intentions of the Illuminati and declared it illegal. With its banishment in Bavaria in 1784, the secret society migrated to Paris, which was awash in Enlightenment radicalism and multiple radical clubs that shared many of the ideas promoted by the Illuminati.

Whereas King Louis XVI and his wife, Marie Antoinette, are usually portrayed in the history books and in popular culture as tyrants of the worst sort, the truth is quite different. Marie Antoinette supposedly once remarked, “Let them eat cake,” in response to being informed that the poor had no bread. The real Antoinette said no such thing. In fact she lodged and fed 12 poor families, at her own expense, at Trianon. She founded the Society of Ladies of Maternal Charity. She even once stopped her carriage for over an hour to aid an injured person, and waited until a surgeon was located.

Historian Antonia Fraser disputed this cruel libel in her book Marie Antoinette, the Journey, writing, “As a handy journalistic cliché [“Let them eat cake”], it may never die,” adding that “such ignorant behavior would have been quite out of character. The unfashionably philanthropic Marie Antoinette would have been far more likely to bestow her own cake impulsively upon the starving people before her.”

Perhaps the greatest error of Marie Antoinette’s husband, Louis XVI of the House of Bourbon, was involving his nation in the war between Great Britain and her American colonies. Most of the debt of France was incurred before he came to the throne, during the four wars of Louis XIV, followed by the Seven Years’ War (known as the French and Indian War in America) under Louis XV. France had no business involving itself in yet another war. While some modern Americans even use the French intervention as a justification for American intervention into the affairs of other countries today, it could just as well be cited as a reason to refrain from such foreign adventures. It is not certain if Louis could have avoided national bankruptcy even if he had opted to stay out of the American Revolution, but he no doubt deepened the problem and hastened his own demise by jumping in.

By 1788, the fiscal situation for the French government was desperate, and Louis XVI called the Estates-General to help him. The Estates-General was divided into the three “Estates,” the first being the clergy, the second, the nobility, and the third, everyone else.

The radicals sensed that their time had come. On June 10, 1789, the Third Estate urged the nobles and the clergy to unite with them. Many did, and on June 17 they proclaimed themselves the National Assembly of France. On June 20, the new National Assembly found the meeting hall closed, so the deputies went to a nearby indoor tennis court to escape the rain. There, they took the Tennis-Court Oath, in which they pledged not to adjourn until they had adopted a new constitution for France.

The king’s cousin, the Duke of Orleans, began bribing hungry Parisians to rebel and overthrow the government. Thousands stood outside bakeries all day, waiting for bread. Rumors of all sorts were floated among the populace: one had it that the king had even mined the meeting hall of the National Assembly. On July 13, mobs were led to break into gunsmiths’ shops, searching for weapons. A new rumor circulated on July 14, causing the greatest alarm yet. According to this rumor, soldiers were supposedly poised to attack the city.

At this point, someone suggested that the mob attack the Hôtel des Invalides, where they found nearly 30,000 muskets. But since there were few cartridges, and only small stores of powder, someone then shouted that they should storm the Bastille, which was said to contain vast stores of both cartridges and gunpowder.

While the French Revolution has been presented as a spontaneous uprising, it seems there was guidance every step along the way.

The Bastille was a 14th-century castle that Louis XVI would have already destroyed, but he lacked the funds. At one time, during the absolute rule of his great-great-great grandfather, the “Sun King,” Louis XIV, the Bastille had housed hundreds of political prisoners. Now, it housed only seven inmates, four of whom were forgers, one in the jail for incest, and two others, probably insane. None was a “political” dissident.

But all this information was unknown to the mob. They were told the Bastille still held hundreds of political dissidents, suffering horrific tortures within its thick walls. Someone in the mob shouted that cannons atop the Bastille could kill many in the enraged Paris mob. Upon hearing this, the governor of the Bastille, Bernard-René De Launay, directed that the cannons be withdrawn from visibility. At this, someone shouted that they were loading the cannons, with intentions of murdering the mob.

Rather than fight, De Launay chose to open the doors. With shouts from within the mob to kill them all, De Launay was butchered — shot and stabbed. A sword was used, along with a pocket knife, to decapitate him. His severed head was then placed at the end of a pike and paraded through the streets of Paris.

Rumors spread that hundreds of political prisoners had been liberated from the Bastille.

This whole episode is hardly something to celebrate; however, it is held up by many — not only in France, but around the world, including in the United States — as somehow the equivalent of the embattled farmers standing at Lexington and Concord and firing the shot heard ‘round the world.

What nonsense!

The French Revolution became increasingly radical and violent. Louis XVI and Marie Antoinette were sent to the guillotine by a vote of the National Convention, which had been called by the National Assembly to write a new constitution for France. The National Convention now considered itself the ruling body of France, led by Jacobin Club radicals Maximilian Robespierre and Georges Danton, and they implemented a Reign of Terror, executing thousands of average French citizens with the sharp blade of the guillotine. While in power, the National Convention went to work in a fevered attempt to uproot the existing order in France. They voted to abolish Christianity, using church buildings and cathedrals as “temples of reason,” and substituting Enlightenment radicals such as Voltaire in place of Christian saints. They changed the calendar, the law code, and even playing cards (with soldiers and workers replacing kings and queens). One might say that the Jacobins closely resembled the same “horse” as the Illuminati.

Perhaps the radical frenzy of the National Convention, with the supposed purpose of simply writing a new constitution, partly explains James Madison’s fear of a second constitutional convention in America. Unfortunately, far too many are willing to take such a risk today, even with an American political class heavily populated with radicals, many spouting rhetoric amazingly similar to that of the Jacobins, the Illuminati, and other radical secret societies of that day.

Certainly George Washington was no supporter of the radical takeover of France. He feared that the madness that destroyed the existing order of France had made its way to America. In a letter written in the 1790s (long after some today argue that the Illuminati had ceased to exist), Washington declared, “It was not my intention to doubt that the doctrines of the Illuminati, and principles of Jacobinism had not spread in the United States. On the contrary, no one is more truly satisfied of this fact than I am. The idea that I meant to convey, was, that I did not believe that the Lodges of Free Masons in this Country had, as Societies, endeavored to propogate the diabolical tenets of the first, or pernicious principles of the latter (if they are susceptible of separation). That individuals of them may have done it, or that the founder, or instrument employed to found, the democratic societies in the United States, may have had these objects; and actually had a separation of the people from their government in view, is too evident to be questioned.”

Washington feared that the doctrines of the Illuminati — which had fostered the madness of the French Revolution through the Jacobins and other such radical clubs — had also been at work in the radical clubs in America, the so-called democratic societies.

It is inconceivable that the “Father of our country” would have approved of considering the storming of the Bastille and the violent French Revolution as anything to celebrate.

Jeff Berwick on Future Money Trends: Next Level Madness

Topics include: Brexit chaos and volatility, plans for a one world government, an uprising going on now, Bilderberg gets hard core this year, collapse of the E.U. and formation of a European super-state, uncertainty in the markets, women in top power positions and the use of feminism to keep the system going a little longer, the terrible mass crimes of Killary 911 Clinton, the hideous spectre of her presidency, the Gold and silver bull market and gold stocks, peaceful parenting and unschooling..

NICE: FRONT VIEW OF TRUCK ATTACK

Dramatic moment Antichrist ISIS fanatic was shot dead by police: French-Tunisian truck terrorist Mohamed Lahouaiej Bouhlel is gunned down after killing 84 including 10 children at Nice Bastille Day firework show

Paris-based PM: ‘France should learn to live with terrorism’

In the aftermath of last night’s latest tragic terrorist attack in Nice, French Prime Minister Manuel Valls made the statement: “Times have changed, and France is going to have to live with terrorism, and we must face this together and show our collective sang-froid,” he said. “France is a great country and a great democracy and we will not allow ourselves to be destabilized.”

French Prime Minister Slammed For Saying “France Will Have To Live With Terrorism”

Between 1914 and 2014, some 150 people were killed in bombings, targeted assassinations, and plane hijackings, the deadliest of which occurred in 1961, when 28 people were killed in the bombing of a Strasbourg-Paris train carried out by a far-right paramilitary organization opposed to the independence of Algeria called Organisation de l’armee secrete (OAS).

Not in Europe: 5 deadly terror attacks which failed to grab world’s attention like Brussels & Paris

The Nice truck tragedy is the third terror attack in France in less than two years. The first was an attack on the satirical Charlie Hebdo magazine in January of 2015, which was followed by the massacre in central Paris in November of the same year. Altogether, the three terror attacks have claimed more than 230 lives.

France’s terror log: 230+ killed in attacks since 2015, more than previous century of terrorism.

Bastille Day Attack

84 Dead, More Than 100 Injured After Truck Plows Into Crowd In Nice, France.

Bodies litter the streets in grim scenes in the south of France.

BASTILLE DAY MASSACRE At least 73 dead and 100 injured as lorry crashes into crowd of revellers celebrating in France ‘terror attack’

AT least 73 have been killed and 100 injured after a suspected terrorist ploughed a lorry into a crowd of people celebrating Bastille Day in France.

French President Francois Hollande told reporters that “about 50 people are in an absolute urgency between life and death” following the attack..

Witnesses reported an exchange of gunfire in the aftermath of the incident which happened shortly after 10.30pm on the Promenade des Anglais .

French Terror Suspect Named As Mohamed Lahouaiej Bouhlel, A “Well-Known” Tunisian Criminal.

Horrific images appeared online showing people lying motionless on the ground

The incident happened in the southern city of Nice on the French Riviera, where crowds had gathered for a firework display for the French national day.

Videos posted online showed panicked people running from the scene in fear, while witnesses reported terrified onlookers throwing themselves into the sea to escape the crush of bodies.

Victims were reportedly mown down over a 2km stretch of road, with some eye witnesses describing an exchange of gunfire between the driver and the police.

And photos emerging of what appeared to be the bullet-riddled windscreen of the abandoned lorry in the middle of the road seemed to confirm the reports of a shootout.

First Moment of Truck Terrorist Attack in Nice, France

Moment of Truck Terrorist Attack in Nice, France

France: Scores killed after attack on Bastille Day celebrations in Nice *GRAPHIC*

Coordinated Antichrist Muslim terrorist attacks in France

60 Dead, 100 Injured After Truck Plows Into Crowd In Nice, France Terrorism Act – Live Feed.

Truck used to run over people, gunman got out the truck and started shooting people

Dramatic Footage Shows Moment Police Killed Nice Truck Terrorist.

Coming Apocalypse “Nice France” Needs Prayers “Rachael’s Heart

One gunman dead, one on the loose.

Dozen of people shot by gunman in Nice France and Truck used to run over people and slaughter them.

Paris Burning As Multiple Coordinated Terror Attacks Hit France

FNN at least thirty dead. Hostages held in Buffalo Hotel and Meridian Hotel. 60 dead reported, more dead to be reported from other attack scenes.

LIVE Nice, France On Lockdown Amid Fears of Possible Attack

Video: TERROR ATTACK IN NICE FRANCE

Sky News Live

CNN blatantly cut off a reporter who dared to point out how hypocritical is it for Hillary Clinton to pretend to care about the black community after her and her husband helped shape the laws that put so many in prison.

CNN Cuts Off Reporter After She Calls Out Hillary’s Hypocrisy

we are now at Peak Debt. There is no balance sheet runway left.

The Most Important Article You Will Ever Read

The purpose of the systematic financial repression by the Fed and the rest of the world’s central banks is to flush savers and investors out of the money market and out the risk curve.

That’s why there is $13 trillion of subzero sovereign debt and growing by the day. That’s why there is a mad scramble for yield; and that’s why the global financial system is riven with FEDs (financial explosive devices) waiting to be ignited.

Today, Fitch Ratings spotlighted one more example of the Fed’s destructive regime of Bubble Finance at work.

The trailing 12-month junk-bond default rate hit a 6-year high in June at 4.9%, says Fitch Ratings, highlighting the ongoing pain from the oil patch.

Energy companies defaulted on $28.8 billion of debt the first half of this year, Fitch calculates, putting the sector’s default rate at 15%. For exploration and production, the rate is 29%.

A 29% default rate in the E&P sector!

Does Ms. Mester really believe that in a honest free market several hundred billions of high yield debt could have been sold by the rank commodity speculators who ply the shale patch?

Not in a month of Sundays.

By contrast, modern central banking is a doomsday machine of financial booms and busts and ever intensifying financial instability. One of these days—-perhaps when the current mother of all bubbles implodes——even the somnambulant Congressional Republicans may figure out the real enemy of American prosperity and productive capitalism.

That is, a rogue central bank that has seized plenary financial power already, and that is so mummified in groupthink that it will stop at nothing in the expansion of its remit. Even to the extent of sending clueless career apparatchiks like Loretta Mester to the ends of the earth to flog the unspeakable folly of “helicopter money”.

French President Slams Goldman’s Hire Of Former EU Chief Barroso As “Morally Unacceptable”

Last Friday, we were impressed by Goldman’s brazenness when the bank, whose alumni have populated virtually all prominent central banks, announced it had hired the former president of the EU Jose Manuel Barroso, as a non-executive chairman and advisor, in what was a clear move to lobby for even more clout within a Europe that is suddenly teetering on the edge of chaos, and where Goldman’s proximity will come in very lucrative when the Eurozone finally tips over.

Needless to say, Barroso’s decision to join Goldman was the peak of hyporcisy when one considers the following speech he had given just years earlier: “In the last three years, Member States – I should say taxpayers – have granted aid and provided guarantees of € 4.6 trillion to the financial sector. It is time for the financial sector to make a contribution back to society”

It appears that the Portuguese bureaucrat only had problem with the financial sector’s taxpayer bailout if it was not his multi-million sallary that was the use of proceeds.

However, while outside criticism of Barroso’s hypocrisy was is most certainly to be expected from outsiders, we were pleasantly surprised, and quite amused, when we saw that none other than French President Francois Hollande on Thursday became the most senior critic of former European Commission chief Jose Manuel Barroso’s decision to take a job at the investment bank Goldman Sachs.

Hollande noted that Barroso was running the European Union’s executive arm at the time of the U.S. subprime home-loans crisis, which has been blamed for the 2007-2008 global financial crisis.

He said Goldman Sachs was “one of the main institutions” involved in selling subprime debt, and also noted the U.S. bank’s role helping Greece establish credibility about its finances in the early 2000s. Understandably he did not bring up ECB head Mario Draghi who at the time was at Goldman himself, and was actively selling swap to Athens to help it mask its debt.

Earlier this week the French government called on Barroso to walk away from the job and the European Ombudsman called for the EU to tighten rules on commissioners taking appointments on leaving office.

“It’s not about Europe, it’s about morality,” said Hollande in his annual interview to mark Bastille day, France’s national day.

“Legally, it’s possible, but morally, it’s about the person, it’s morally unacceptable.”

For once we find outselves in total agreement with the French socialist.

Then again, we eagerly await Barroso’s reponse now that it has been revealed that Hollande himself has been quite generous with taxpayer funds himself, spending $11k per month in taxpayer funds on his own personal hairdresser as we reported yesterday. We assume that the retort of Goldman’s latest hire to yet another glaring instance of French presidential hypocrisy by the man whose own banks were bailed out in the crisis, and who singlehandedly defined “shampoo socialism” will be sufficient comic – and scathing – that it will need no help from us.

ITALY NEARS ECONOMIC COLLAPSE
Prices of bank stocks have decreased by more than 50%

It appears the machines were not expecting Mark Carney to disappoint this morning. When the Bank of England decision hit at 7amET, US equities instantly tumbled but VIX flash-crashed to almost an 11 handle, before reversing almost instantly back above 13.

Having run all the stops lower, it appears the machines have run out of VIX stomping ammo as stocks roll over at the open.

BOE “Disappointment” Leads To VIX Flash Crash.

Summer vacation is here, and the whole global family has arrived at Central-Bank Wonderland, the upside-down, inside-out world that banksters and their puppet politicians call “recovery.” Everyone is talking about it as wizened traders puzzle over how stocks and bonds soared, hand-in-hand, in face of the following list of economic thrills:

Britain voted to exit the EU, and a handful of other nations are talking openly along similar lines. One major crack in the European Union just happened, and others are forming. (Brexit is the name of this new Earthquake ride near the gates of Wonderland.)

Italy’s oldest bank (also the world’s oldest bank, Banca Monte dei Paschi di Siena) faces bankruptcy unless it gets bailed out. The bank that has survived the greatest tests of time (founded in 1472 before Columbus sailed the ocean blue) is going down unless it finds a savior! Italy’s prime minister is screaming for tax-payer bailouts. At the same time, one of Germany’s oldest banks and one of the largest —

Deutsche Bank — has just about become a penny stock and faces the likelihood of imminent collapse if not bailed out, too. (Welcome to Wonderland’s zombie freak show of the world’s oldest walking-dead banks dying again.)

Gold and silver have been soaring as though people are fleeing to safety (in Wonderland’s Bouncy House of Coins).

People are also fleeing to safety in bonds, bringing the US 10-year bond down to a 1.318% yield, its lowest yield in history. (Hit me on the head with a hammer like a pop-up gopher, and watch me smile.)
In many nations around the world, government bonds have been selling hotter than bombs in Syria even with negative interest rates, meaning you lose money every day you hold them. (The bonking game of bigger gophers for the near-sighted so that Wonderland remains handicap accessible.)

In Switzerland, people are cuing up in the ticket line to give the government their money to hold for a fifty year ride now that the Swiss 50-year bond has turned negative. (Wonderland’s biggest gopher for the totally blind. You don’t just hit this one; it takes you the ride of your life for the rest of your life. We call it “Gopher Broke.”)

US jobs crashed in May, causing stocks to drop, but rebounded in June, causing stocks to rise, so that May is now seen as an unexplained anomaly. (Welcome to Ripley’s House of Unexplained Economic Mysteries.)

The Great Britain Pound crashed to a thirty-year low against the dollar. (Enjoy your ride on the currency bumper cars!)

Japan’s decade of quantitative wheezing has accomplished so little that they’re going to cough up more of the same all over again because it was so much fun the first five times. (House of Bodily Humors and Horrors.)

Central banks in Europe say they need to and will crank their own quantitative easing back up, so effective have all previous rounds been. (And, so, the merry-go-round spins and the calliope plays its happy music in Euro Dizzyland.)

Falling oil prices, which contributed significantly to January’s spectacular stock market plunge, are going back down the pipeline while oversupply is building rapidly at the bottom again with the buildup reaching its highest point in ten weeks. (Wonderland’s log ride through oil with more than one crude splash.)

Venezuela and Brazil are collapsing into economic chaos. (It’s more fun than that bungy-jumping vehicle for two at the carnival.)
Etc. (I know, darn! Just as he was on a roll. Well, hang on…)

Yet, the S&P 500 and Dow have soared to all-time record highs! Whoohoo! Hold onto your safety harness and try not to choke on your popcorn for the fun never ends in Bankster Wonderland!

What’s up with stocks and down with bond yields?

US Stocks are flying high at the same time demand for sovereign bonds is soaring and precious metals are experiencing a bull market. That says to me that money is fleeing to safety, and the apparent irrational exuberance in the stock market, considering all the flights to safety, is partially fueled by foreign investors fleeing to US investments now that Europe’s cracks are showing like Frankensteins body seams.

This chart from David Stockman’s Contra Corner shows how people are piling into bonds right now:

As a result, US bond interest rates are the lowest they have been in the history of this nation! Here’s another chart from Contra Corner:

Whoohoo! Two massive records in one week. Highest stock market prices and lowest bond rates in the history of the United States! Does it get any better than this? Geez, I love this place!

We have never seen anything like this

Stocks are setting all-time record highs, and interest on US bonds is hitting all-time record lows. Money is running to gold and silver. Money is running to long-term sovereign bonds. And money is running to the US stock market all at the same time. Heck, money is running all over the place! What is there not to be happy about?

However, before you think, Whoo! the stock market is going up; there’s no crash happening, ask yourself what the heck is happening. We’ve never before seen either of these two extremes where stocks are free of all bondage and all bonds are free of their stocks. Only during the years of quantitative easing and zero-interest-rate policy have we seen bonds and stocks play together, but never to this extreme. So, when all the gauges on the instrument panel are pegging their needles past the red zone, including the one that says “We’re going super fast now,” you might want to say, “Whoa! What’s going on?” Maybe the engineer on this train has fallen dead over the throttle.

As Jesse Felder said on Contra Corner, “We’re witnessing the greatest dichotomy in the history of financial markets.” Interest rates on bonds have now gone below any low of any recession … ever. Far, far below. We’re digging out the sub basement to find where the money is buried. If you were to gauge the economy’s future based on where bonds have gone, you’d have to say, “This must be the scariest future ever because there has never been such a flight to presumably safe vehicles at any cost.”

At the same time, stocks have never been more overpriced than they are today. They hit their highest price ever during a period in which earnings have been flagging for many months. So, they’re not rising because, “Woohoo! Businesses are making bank!” No, they’re making new heights in spite of the fact that sales are down, profits are down, and wholesale inventories have remained locked in a highly backed-up position that is comparable only to the Great Recession and the dot-com crash … and while things are not looking generally good in the world economically. So, there is not a lot of reason to think sales will grow to fit the high stock values. In other words, median price-to-sales ratio (price of stocks compared to sales of the businesses) has also hit an all-time record high.

Three all-time records in one week! This is the funnest place in the universe!

Is this irrational euphoria among investors? Is it even people who are buying the bonds? Is it people who are buying the stocks? Or is it entities like central banks and their proxies — not buying them as investments, but buying them in mass to shore up the entire global economy and stop the crash that started right after Brexit … or that started right after December 16, 2015? (It’s just one crash right after another here at Wonderland’s National Demolition Derby.) Are central banks firing up all engines to stop a crash in its tracks with a massive coordinated salvo of purchases?

So, what is happening as central bankers watch each other in mutual admiration?

Says Jeff Cox of CNBC,

The reason anyone would buy negative-yielding debt is actually pretty simple: Because they have to. They are central bankers looking to help promote economic growth. They are insurance companies, pension funds and money managers who have to match liabilities with assets. They are not, by and large, retail investors who are so afraid of risk that they’re willing to pay for the privilege of lending money to a government. Together, those buyers have helped build a nearly $12 trillion funnel of negative-yielding sovereign debt — unprecedented in world history.

Gee, there are a lot of things breaking historic world records this week. That must mean it’s a great week!

Cox thinks the big buyers of bonds are central banks, pushing down interest rates to stimulate the economy. No surprise there. Central banks have been going pedal-to-the-metal to hold interest rates to the floor for almost a decade, so why not continue? The record highs in bond sales (with corresponding lows in interest) and high in stock sales most likely are due to rapid pressure being applied to the accelerator as a counter-measure to the concerns governments and bankers have had about Brexit.

Central banks could do that directly, or they could do it invisibly (since they operate under a cloak most of the time anyway) by offering enticements or pressure to their proxies. (“You want this mega-conglomerating merger to happen: buy ten billion dollars worth of US bonds, and then I’m sure we can get it approved.” If not that, there’s a thousand other ways for central banks to push money into markets now that they are accustomed to doing so in an unbridled fashion. It’s the new norm.)

That the stock markets are being driven up by central bank purchases can be seen in the following graph:

Emerging markets (EM) that were crashing at the start of 2016 offloaded assets to raise funds to keep the home front running at the start of the year. That contributed to January becoming the worst January in the history of the US stock market — worse than any start of a year in the Great Depression or the Great Recession. The central Bank of Japan and the European Central Bank increased their buying of those assets to offset that fall, and both recently announced they are going to apply a lot more stimulus.

Cox goes on to write,

Ostensibly, the global race to the bottom was supposed to stimulate growth, and it may just well keep pushing risk assets [stocks in particular] higher. But what awaits on the other side is adding to the worries of investing professionals. “Ultimately, there will be a day of reckoning,” said Erik Weisman, chief economist at MFS Investment Management…. There remains a pervasive feeling on Wall Street that the risk rally is built on sand, with a price to pay in a world where owning government debt no longer pays but rather costs.

Even central banksters who create money out of nothing cannot create a free lunch. Somebody pays, but probably you, not them. It’s an ominous feeling really — a sense that there is no underlying reality anymore — that the sands are shifting under your feet.

“There’s no doubt that there are and will continue to be unintended consequences, and the further we move away from something conventional into unconventional, the ratio of unintended consequences to intended consequences will rise,” Weisman said.

We’re seven years on since stimulus responses to the Great Recession began. These have also been the greatest stimulus measures in the history of the world. (No wonder these rides are so thrilling as they reach new world records multiple times a week.) However, outside of flying stocks, we still have a global economy that seems endlessly stuck in the dog days of summer. Or, to change to my old winter metaphor (now that summer has turned abnormally cold here where I write), the longer and harder the snow plows push the snow straight ahead, the more it piles up as an impossible obstacle ahead of them. The louder they get with chained tires clawing and engines roaring and smoking, the less snow they push. The plows are now grinding away at full throttle in the lowest gear they have, and it is looking like they are going to remain stuck in that gear for a very long time — maybe another decade … unless they simply give up the battle.

The world is buried under the highest mountains of the cheapest debt ever imaginable, and nothing is moving in the overall economy (except financial instruments that are trading places). And that is where I said we would wind up when I wrote my very first articles in my Downtime series on government bailouts and stimulus back at the start of the Great Recession. I said they were pushing all the snow straight ahead, instead of off to the side, so (quite a ways down the road) they would have a mountain of snow so high in front of them that all the plows in the world could push it no further. We are now quite a ways down the road.

The European banks that are screaming for bailouts are buried in bad debt they pushed forward from the Great Recession. They never wrote it off then because the damage to their balance sheets would have been so severe. As I said back then, such policies only meant the damage to their balance sheets in the future would be even more severe. The problem of bad debt owned by banks in Italy is now four times worse than it was at the bottom of the Great Recession.

Why did I know that would happen? Because nothing about this “recovery” is recovery. It has all been a forestalling of problems, “kicking the can further down the road,” with the inevitable pay-back time becoming worse the longer we forestall the inevitable write-off of bad debt. My Downtime articles years ago sounded many warnings that everything governments and central banks were doing was making a very bad situation worse just so we could avoid the pain at the time. Such actions resolved none of the true underlying problems that are built right into the foundation of our debt-based economy. Until we stop thinking we can build true monuments of wealth over ever-growing chasms of debt, we will solve nothing at all.

Europe’s banking troubles are now far deeper than they were at the belly of the Great Recession Part One. Europe endlessly scrambles to solve banking troubles that become harder to solve with each new phase. The snow plows I talked about in my Downtime series have not only stopped pushing the snow ahead, but the drift is now avalanching back onto them and pushing the plows backward, even as their wheels are spinning and screeching forward.

(This is what we do in the parking lots here in Winter Wonderland.)

Why else would the entire financial world be upside down?

Another explanation for the greatest dichotomy in financial history that is now happening in the US is that money is exiting European markets and fleeing to anything in the US because the US remains the best looking corpse in the cemetery; so, if you want to dance with stocks, do so with Stockzilla, bride of Bankenstein. What appears completely irrational is in part a flight of money from one part of the world to the last safe place on earth. (Safe for the moment, but moments count when you’re fleeing an avalanche.)

Central banks have become the biggest bullies in the playpen. With the biggest bullies pushing their weight around as much as they possibly can, there is no safe place for small investors in the playpen. So, individual investors around the world are fleeing to the safest investments they can think of. With Europe in such volatile flux and China being such an unknown with its own massive upheavals, what more readily comes to mind right now as a final resting place than the good ol’ US of A?

Naturally, the US will be the last major economy affected by the second avalanche of bank failures, which this time has started in Europe. Brexit isn’t likely to trigger anything in the US directly, other than the immediate panic selling that was seen in stocks right after the vote. Once it was clear that Brexit wasn’t going to destroy the United States, some euphoria within the US probably kicked in and helped push the stock market up rapidly past its long-standing ceiling because that euphoria was accompanied by even larger money flows from outside the nation as people ran for cover.

Brexit appears to be triggering the failure of banks that were too fat to fail, lest they flounder upon us and squish us all — some of the world’s most established banks. As things fall apart to this unprecedented degree in Europe, money has to run somewhere, and the US casino still has pretty lights that can be seen as far away as the growing darkness in Europe.

The United States will not remain immune to what is happening in Europe forever, but the hot air coming out of Europe’s balloon may fill the US sails for awhile. For the moment, the US is the beneficiary of Europe’s decline.

This could be a brief moment, however, as there are likely to be surprising connections (black-swan events) between Europe’s failing banks and US banks that materialize faster than anyone expects. We’re sailing in uncharted territory that looks nothing like anything we’ve seen before, so who knows what comes next in a world where stocks soar in the face of generally gloomy economic news while bond sales also soar at the lowest interest rates in history? (Welcome to our Pirates of the Caribbean boat ride where Mario Draghi plays the part of Jack Sparrow!)

With Europe reaping the whirlwind as its banks turn out the lights, with China looking lost and confused and sometimes spinning erratically, with Japan ecstatically voting to start its umpteenth round of unsuccessful quantitative easing, with South America breaking into greater anarchy every day of its pitiful, starving life, and with the US in longterm manufacturing decline with corporate profit growth also in continual decline, one cannot seriously think the world is just going to pull out of this!

That means those who are buying stocks because they believe there’s a new 30% rising bull market just beginning are taking euphoria to new heights, too. They are, in the very least, taking a perilous ride.

“Investors are buying bonds for capital appreciation and stocks for income. The world has turned upside down,” said James Abate, chief investment officer at Centre Asset Management LLC. The shift, according to Abate, has been fueled by central-bank stimulus inflating government-bond prices across the world, pushing yields on nearly $12 trillion of government debt into negative territory. And as bond yields tumble, more and more equities are yielding more than government bonds, spurring demand for companies offering sustainable income in the form of dividend payments. “It is a poison brew that central banks keep serving us,” Abate said. (MarketWatch)

Central Bank Wonderland is Complete and Now Open for Business — The Epocalypse Has Fully Begun

In other words, central banks have taken all rationality out of all financial markets … at least in one sense. Everything everywhere now is contingent upon what central banks are doing. The contagion of their poison is ubiquitous. There is another sense, however, in which this is all rational. I call it the new rationality: central banks have all the money, and money follows money. So, individual investors are doing the best they can in following the money. So, in terms of global economics and politics, its irrational; but in terms of following the makers of money who run the show, it makes perfect sense. It has is own mad mindset.

“There’s a perception there’s a greater fool behind you,” Kohli said, pointing to the strategy of buying a bond with the intention to sell later at a higher price. But the main forces behind the rally, Kohli added, are central-bank purchases that keep fueling demand and propelling prices higher.… What’s more, the recent divergence between the main U.S. equity indexes and benchmark Treasury yields has been flashing “mind the gap” signals that fuel fears of a sharp correction…. So, despite popular belief, the decline in interest rates “should be viewed as a bad sign,” noted BAML’s Global Rates and Currencies Research team, in a report released Monday. “Too often we have heard how declining interest rates are good news and are used as a justification for investors being pushed out the risk spectrum. We disagree and argue this time is different and the decline in rates should be interpreted as a bad sign,” the analysts noted. (MarketWatch)

If Kohli’s first statement doesn’t sound like the definition of a Ponzi scheme, what does?

In terms of everything that once made sense financially, central banks’ transformation of this world into Wonderland is now complete. In this topsy-turvy world, Mad Hatters may not be so mad as they look. Everyone is simply trying to maneuver around the biggest bullies in the playpen by finding the safest place to play. It’s the new rationality of a world intentionally turned on its head — at last, by nearly everyone’s recognition — even more than it is euphoria. The irrationality has become obvious. What is not so obvious is the rationality of the irrationality.

In other words, if investors take the bullish gamble on a rising stock market in the US at a time when most of the world is falling apart, they may be right for all the wrong reasons … for now. In Central Bank Wonderland, they have nowhere to fall but up. On a short-term basis (probably very short-term) market bulls could be right only because all the other circling drain holes around the world are dumping into sovereign bonds, precious metals … and the US stocks as the last casino open for business. Everything is now flowing into the extreme zone at the same time.

You can bet on the wild ride in US stocks, or you can bet on bonds that guarantee you almost nothing (or even less than nothing), or you can bet on precious metals. All three markets are rising together right now. The question is which one is likely to continue rising as Europe disintegrates, the oldest banks in the world crash, Antichrist Communist China teeters between crashes and stimulus while running the world’s most notoriously cooked books, Japan takes the governor off the throttle and flies with full-hot afterburners blazing into the rarified nozone, and South American economies implode into social chaos?

This is the crazy new zombie economy I call “The Epocalypse” — a world of economic collapse everywhere, apocalyptic in scale, epic in that it already exceeds the greatest extremes in history, and epoch in that it will come to be known as its own period in time. One word that says it all.

You have witnessed the beginning of this hideously convoluted world, and it only gets more distorted from here because nothing has been done to right the essential problems that are creating this grotesque chaos while ungoverned greed rules the day.

The children are no longer asking, “Are we almost there yet?” We’ve arrived, and they’re now asking if they can go home. Welcome to Central Bank Wonderland where Janet Yellen is the Queen of Hearts and all the little carnival riders are Mad Hatters whose moves are rational if you live in a world with irrational rules created by truly mad leaders. Dinner is served in our Zombie Epocalypse Room where only zombie banksters get to dine … and dinner is you! You see, if you were ever able to walk out the back door of Wonderland and look over your shoulder, the sign above the door says “Hotel California.” You are always welcome here … and can never leave.

Doest it get any more fun than this?

Sure it does. Wait till you see Act Two, which could be as early as next week!

Normalcy Bias (Day 1)

Gary Heavin, Steve Quayle, Timothy Alberino
Jim Bakker Show 2016 | Show# 3036 | Aired on July 14, 2016

SkyWatchTV News 7/12/16: Antichrist Muslim Religious Leader Looking Forward to Third Temple

The stock market has reached new all-time highs this week, just two weeks after plunging over the BREXIT result. The bulls are exuberant as they dance on the graves of short-sellers and the purveyors of doom. This is surely proof all is well in the country and the complaints of the lowly peasants are just background noise. Record highs for the stock market must mean the economy is strong, consumers are confident, and the future is bright.

All the troubles documented by myself and all the other so called “doomers” must have dissipated under the avalanche of central banker liquidity. Printing fiat and layering more unpayable debt on top of old unpayable debt really was the solution to all our problems. I’m so relieved. I think I’ll put my life savings into Amazon and Twitter stock now that the all clear signal has been given.

Technical analysts are giving the buy signal now that we’ve broken out of a 19 month consolidation period. Since the entire stock market is driven by HFT supercomputers and Ivy League MBA geniuses who all use the same algorithm in their proprietary trading software, the lemming like behavior will likely lead to even higher prices. Lance Roberts, someone whose opinion I respect, reluctantly agrees we could see a market melt up:

“Wave 5, “market melt-ups” are the last bastion of hope for the “always bullish.” Unlike, the previous advances that were backed by improving earnings and economic growth, the final wave is pure emotion and speculation based on “hopes” of a quick fundamental recovery to justify market overvaluations. Such environments have always had rather disastrous endings and this time, will likely be no different.”

As Benjamin Graham, a wise man who would be scorned and ridiculed by today’s Ivy League educated Wall Street HFT scum, sagely noted many decades ago:

“In the short run, the market is a voting machine but in the long run, it is a weighing machine.”

Short-term traders can make immediate profits using momentum techniques, following the herd, and picking up pennies in front of a steamroller. Remember your brother-in-law who was getting rich day trading stocks in 1999? Remember your cousin who was getting rich flipping houses in 2005? Remember The Big Short, where the Too Big To Trust Wall Street banks were getting rich creating fraudulent mortgage derivatives and selling them to suckers? There are always profits to be made for awhile. Then the bottom drops out, because fundamentals, cash flow, valuations, and reality matter in the long run.

Lance Roberts points out some inconvenient facts, and I’ll point out a few more.

“It is worth reminding you, that while the markets are moving higher and pushing new highs currently, it is doing so against a backdrop of weak fundamentals, high valuations, and deteriorating earnings.”

History might not repeat itself, but it certainly rhymes. Late in 2007, as the housing collapse was well under way, the stock market hit all-time highs of 1,575 in October. The bulls were exuberant, even as the greatest housing crash in history was evident to everyone except Bernanke and Paulson. Corporate earnings were falling. Valuations were at levels only seen in 1929 and 2000. The so called “doomers” like Hussman, Shiller and Schiff were warning of an impending crash. Very few heeded their warning. In retrospect, the economy was already in recession by December 2007 despite economic reports saying otherwise. GDP and other falsified economic indicators were revised negative years after initially being reported as positive. Familiar?

The stock market dropped 20% from the October high by March of 2008, as Bear Stearns collapsed and struck fear into the hearts of the Wall Street sociopaths. But the Fed and their Wall Street puppeteers needed to keep the game going a little longer so they could short their own fraudulent derivative creations and screw over their clients once more. JP Morgan, which was just as insolvent as Bear Stearns, bought them and restored confidence in the ponzi scheme. The market proceeded to soar by 12% over the next two months. All was well!!! Until the bottom fell out in September. By March 2009, the market had fallen 58% from its October 2007 high.

The market topped out in May of 2015 at 2,126. Since then, corporate profits have been in freefall, consumer spending has been in the toilet, GDP has been barely positive, and virtually every economic indicator has been falling. Valuations are now higher than at the 1929, 2000, and 2007 peaks. The median existing home price of $239,700 is 55% higher than the median price in 2012. At the peak of the housing bubble in 2005/2006 the median price to median wage ratio reached 9.5. In 2012 it had fallen to a reasonable level of 5.6. It currently stands at a bubble like level of 8.3.

The market meandered about for the next seven months going nowhere. It then suddenly dropped in January and February, falling 13% from its May 2015 high. This was unacceptable to central bankers around the globe who believe stock market gains are the only factor reflecting the health of our economic system. Maybe it’s because they are only beholden to bankers, oligarchs, corporate chieftains, corrupt politicians, and unaccountable bureaucrats. Central bankers from around the world have come to the rescue by buying stocks and providing unlimited liquidity to banks and corporations so they can buyback their own stocks. The result, is new record highs.

It has the feel of JP Morgan “rescuing” Bear Stearns and saving the world in early 2008. Smoke, mirrors, negative interest rates, debt creation, money printing and the artificial elevation of stock valuations by central bankers and their politician co-conspirators is not creating wealth. It is creating epic bubbles in stock markets, bond markets, home real estate markets, commercial real estate markets, and automobile markets. John Hussman chimes in with a reality based assessment of their reckless actions:

“Instead, central bankers seem to view elevated security valuations as “wealth.” The longer this fallacy persists, the worse the subsequent fallout will be. I have little doubt that future generations will look at the reckless arrogance of today’s central bankers no differently than we view speculators in the South Sea Bubble and the Dutch Tulip-mania. Unfortunately, there is no mechanism by which historically-informed pleas of “no, stop, don’t!” will penetrate their dogmatic conceit. Nor can we change the psychology of investors.”

Today is just a continuation of the bubble blowing policies of the Fed and their central banker cohorts at the ECB and BOJ. These policies are deranged, illogical, and always result in the destruction of real wealth. Promoting financial engineering, while destroying the incentive to save and invest in the real economy has gutted true investment in our country. This is why good paying jobs have disappeared and we are left with the gutted remains of decades of financialization and globalization. As Hussman points out, our real economy has died a long slow death, drowning in debt.

“One of the hallmarks of the bubble period since the late-1990’s is that the growth rate of real U.S. gross domestic investment has slowed to less than one-quarter of the rate it enjoyed in the preceding half-century. Yet because central banks have stomped on the accelerator at every turn, the quantity of outstanding debt has never been higher, and the combined value of corporate equities and debt (“enterprise value”) is now at the highest multiple of corporate gross value-added since the 2000 bubble extreme.”

Artificially boosting stock prices through convoluted liquidity schemes, devious machinations, backroom central banker deals, sending Bernanke to Japan, and helicopter money dropped on Wall Street only, has just exacerbated the wealth inequality permeating the world. The anger over this blatant pillaging by the .1% who rule the world is reflected in the chaos across Europe and the brewing civil war here in the U.S.

As Hussman notes, no wealth is being created because no productive investments are being made. Mega-corporations buying back hundreds of billions of their own stock to enrich their executives is not a productive wealth creating venture. We are in the midst of a sickening crisis created by appalling incentives, driven by sociopathic corporate and political leadership captured by their greedy desire for power wealth and control. The sickness is pervasive and terminal.

“In a healthy economy, savings are channeled to productive investment, and the new securities that are issued in the process are evidence of that transfer. In an unhealthy economy, and particularly one with very large wealth disparities, a large volume of securities may be created, but they are often simply a way of supporting debt-financed consumption. As a result, no productive investment occurs, and no national “wealth” is created. All that occurs is a wealth transfer from savers to dis-savers. Over the past 16 years, U.S. real gross domestic investment has crawled at a growth rate of just 1.0% annually, compared with a growth rate of 4.6% annually over the preceding half-century. There’s your trouble.”

A chart that caught my eye this week, along with dozens of other data points from the real world, reveals the phoniness of the stock market rally and the underlying weakness of this tottering edifice of debt. We are supposedly in the seventh year of an economic recovery. Corporate profits have been at record highs. Interest rates are at record low levels.

The Fed and the FASB have colluded to allow banks and commercial real estate companies to fake their financial statements and pretend their assets are worth more than they are and to pretend rental income from non-existent tenants in their malls and office buildings can cover their debt payments. And somehow delinquencies and charge-offs are soaring by levels seen during the height of the 2008/2009 financial crisis. It seems all those vacant mall storefronts and all those FOR LEASE signs in front of every other commercial building across America are finally coming home to roost.

“All-Time-Highs”

This faux economic recovery has been driven by debt, with much of it subprime. The shale oil scam was built on high yield debt and false promises. The Wall Street banks reported fake profits for years by relieving their loan loss reserves created in 2009. Now the table has turned.

The three largest banks in the US—Bank of America, JPMorgan Chase, and Wells Fargo—disclosed that the number of delinquent corporate loans increased by 67% in Q1.

JPMorgan’s delinquent corporate loans increased by 50% to $2.21 billion
Bank of America’s delinquent loans increased 32% to $1.6 billion
Wells Fargo’s delinquent loans increased by 64%, to $3.97 billion

The banking industry added $1.43 billion to the total money it has set aside to cover bad loans in Q4 2015, according to the FDIC. Making bad loans to deadbeats can make profits look spectacular in the short-term, but interest and principal can’t be paid with a cool business plan and a narrative. Cash flow is a necessary ingredient to servicing debt in the real world. The fun has just begun. Fitch Ratings just reported that the default rates for junk bonds rose to 3.9% this month, up from 2.1% in April 2015.

The “tremendous” auto recovery which drove sales (I use the term loosely since 31% of sales are actually leases and the rest are financed over an average of 67 months) from 10 million in 2010 to 18 million in 2015 has been completely driven by easy money provided to Wall Street. It’s amazing how many vehicles you can sell by doling out $350 billion in 0% loans and allowing “buyers” to finance 100% of the purchase

When they started to run out of legitimate suckers who liked being perpetual debt slaves, they used the tried and true method that worked so well with housing in the mid-2000s – loaning money to losers who weren’t capable of repaying them. This Wall Street mindset is driven by the free money provided them by the Fed. You borrow from the Fed at 0%, lend it to deadbeats at 12% for 72 months so they can “buy” that $40,000 Cadillac Escalade and boost the economy. Over 20% of all auto loans are now being made to subprime (aka deadbeat) borrowers. Now the shit is hitting the fan belt.

Financing 100% of overpriced automobiles, extending terms, pretending you will get repaid, and recording it as a sale is the corporate/banker method of creating wealth. Auto loan terms between 73 and 84 months more than doubled between 2010 and 2015. One quarter of all loans originated in Q3 2015 were between 73 and 84 month terms, compared to just 10% in Q3 2010. The average new-car loan rose to $29,551 during the fourth quarter of 2015, up more than 4% over the past year, according to Experian, one of the three major credit-reporting agencies.

The chickens are coming home to roost for subprime auto lenders and investors, with Fitch Ratings warning delinquencies in subprime car loans had reached a high not seen since October 1996. The number of borrowers who were more than 60 days late on their car bills in February rose 11.6% from the same period a year ago, bringing the delinquency rate to a total 5.16%. Subprime lending always ends in tears. Wall Street is probably betting against these packages of subprime slime while simultaneously selling them to their muppet clients. History rhymes.

These subprime auto loans look positively AAA compared to the hundreds of billions in subprime student loans distributed like candy by Obama and his government minions to artificially lower the unemployment rate and again boost the economy. Student loan delinquencies are already skyrocketing before the $400 billion doled out in the last four years has come due. The official delinquency rate reported by the government of 11% is another falsehood. The delinquency rate is really 17% when loans in deferment and forbearance — for which payments are postponed due to any reason — are included. The taxpayer will eventually foot the bill for at least $400 billion in losses.

We’ve been borrowing from the future for the last 16 years because real economic growth was killed by Greenspan, Bernanke, Yellen and the rest of the Fed yahoos. The stock market has returned 60% since the 2007 peak, three times the growth in corporate profits and GDP. The all-time highs in the stock market have been driven by the $3.4 trillion increase in the Fed’s balance sheet, hundreds of billions in stock buybacks, PE expansion, and ZIRP. The valuation of the median stock is now the highest in history.

For all I know the stock market could continue to rip higher. Madness knows no bounds. The general public is not involved in this madness. They were wiped out twice in the space of eight years. Wall Street and their media mouthpieces have been unable to lure the average Joe back into the casino because the average Joe has been impoverished by Fed policies designed to benefit the .1%. The Wall Street lemming herd has gone mad, but I’m not sure they will recover their senses before they burn the entire demented financial system to the ground. But enjoy the all-time highs while they last.

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” ? Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

AG Lynch Refuses to Answer Questions 74 Times

“I sat on the Intelligence Committee, which dealt with classified secrets of our nation, and terrorism, and I wanted to find out the whole truth on what was going on with terrorism and with our country. I had suspected that maybe we weren’t getting the whole story in front of my committee, and so my assistant brought Phil Haney to me.”

Haney shared some startling news with Bachmann. He revealed the administration’s stealth policy to protect Antichrist Islamic leaders with supremacist beliefs and ties to violent jihadists, allowing them to freely travel between the U.S. and the Middle East. He said the Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown  White House was opening its doors to members of Antichrist Muslim Brotherhood front groups and even letting them help craft U.S. national security policy.

Haney revealed the DHS had purged training materials that cast Antichrist Islam in a negative light. Worse, in 2009, Haney’s superiors ordered him to remove critical linking information from more than 800 records he had created on individuals associated with Antichrist Muslim Brotherhood front groups in the United States. Three years later, the higher-ups deleted all 67 records Haney had created on individuals associated with a worldwide Antichrist Islamic group called Tablighi Jamaat.

In both cases, the Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown  administration fretted Haney’s research violated the civil rights and civil liberties of the Muslims involved. In fact, Haney was investigated nine times during the course of his time at DHS.

He chronicled all this and more in his book, “See Something, Say Nothing: A Homeland Security Officer Exposes the Government’s Submission to Jihad.”

Bachmann, realizing how important this information was, began to meet with Haney on a regular basis.

“What I tried to do was introduce Phil to as many members of Congress as I could, keeping a protective shield over him, a bubble, so that he wouldn’t be fired,” Bachmann told Markell. “He had no reason to be fired, but he knew that he was operating in the Antichrist NWO 666 Obozo 911 Homosexual Climate Change No Boots SPECTRE Clown  administration and that he potentially could be fired.”

Bachmann took Haney to committee chairs, subcommittee chairs and other members of Congress.

“My goal was to see him granted either a subpoena to come and testify, a forced invitation to come and testify before Congress, or whistleblower status,” she said.

Bachmann said for many members of Congress, “their socks were blown off” when they listened to Haney’s allegations. However, that did not necessarily translate to action.

“The problem is to get members of Congress to go from hearing it to acting on it [is] something else, because they didn’t want to risk upsetting the political hierarchy in D.C.,” Bachmann explained.

Bachmann knows firsthand how risky it can be to upset the boat in Washington. In the summer of 2012, she and four other congressmen took Haney’s concerns public, warning that the Muslim Brotherhood had infiltrated the top levels of U.S. government. She singled out Hillary 911 Clinton aide Huma Abedin, who had three family members connected to the Muslim Brotherhood.

As WND has extensively reported, the Antichrist Muslim Brotherhood and Islamic supremacist connections not only extend to Abedin’s mother and father, who are both deeply tied to al-Qaida fronts, but to Abedin herself.

WHISTLEBLOWER WAS MY SOURCE

‘I had suspected that maybe we weren’t getting the whole story’

For that warning, Bachmann faced fierce pushback not only from Democrats, but from fellow Republicans as well.

“I had the presidential nominee of our own party come after me and castigate me on the Senate floor for raising questions about the influence of the Antichrist Muslim Brotherhood in our government – John McCain,” Bachmann recalled. “I had my own Speaker of the House, John Boehner, go after me. I had my own committee chair of the Intelligence Committee [Rep. Mike Rogers, R-Mich.] come after me, the ranking member, the minority leader, come after me, as well as members of Congress in my own state. It was stunning to see the entire lineup come after me in solid voice.”

Facing seemingly universal opposition from the political establishment, Bachmann dropped 17 points in the polls for her 2012 re-election bid. She knew she had to raise millions for her re-election campaign because Nancy Pelosi, as usual, had designated Bachmann as one of the top targets to defeat in the House races. Bachmann told Markell she also had to pay off a roughly $1 million debt from her presidential campaign, which she had suspended earlier in 2012. Yet none of these obstacles deterred the Minnesota congresswoman from doing what she thought was right.

“I didn’t really think twice about not pursuing this issue on the Antichrist Muslim Brotherhood infiltration in our government because I knew how serious it was,” she declared.

Bachmann assured Markell that she would not have done anything differently in her congressional career if she could go back in time. She is secure in the fact she trusted herself, she trusted Haney and she trusted in her Lord.

“I knew the information was right, and for me I was a believer in Jesus Christ, filled with the Holy Spirit,” Bachmann proclaimed. “That doesn’t mean I’m better than anyone else, but the blessing that I had is that I was guided by the still-small voice of the Holy Spirit, and that’s what I tried to actively listen to.”

How Many Associates Suffered Mysterious Deaths Working For the 911 Clintons?

As the article below points out, with Hillary 911 Clinton seeming more and more likely to be elected this November, one thing people should not be permitted to forget, so it’s incumbent upon those of us who know, to keep telling people about how time and time again, those who could have potentially threatened the success of the 911 Clinton family, have died in unusual fashion.

Who could forget the mysterious Vince Foster suicide, or the convenient James McDougal’s heart attack? There are 44 more names on that list. If you want to dig really deep inside the deaths of many of these people you can visit a site called Arkancide. What about Suzanne Coleman? For anyone who has never heard of Coleman before, she’s was one of Wild Bill’s many alleged victims, and she’s dead. I’m just getting started.

Suzanne Coleman “allegedly” died of a self-inflicted gunshot wound to the BACK of the head while allegedly pregnant with Bill Clinton’s illegitimate baby. I’ll leave it up to you whether or not you believe she committed suicide with a baby in her belly, and by reaching the gun around to the back of her head. The audio below is from a radio interview with Citizens United’s founder Floyd Brown, and it deals with Coleman’s death.

In the interview, Brown talks about the lengths 911 Hillary used to go to just to keep Bill safe from the repercussions that would have resulted from all his sexual escapades. Apparently, Floyd Brown had his suspicions about Coleman’s shady suicide, as did many people I’m sure, and he was prone to talking about it on his home telephone. Well, 911 Hillary illegally wire tapped Brown’s phone, and needless to say she didn’t like Brown discussing that issue because of the effect it could have while Bill was in office.

Think it ends there? In relatively recent news, and covered in a prior post titled, Another Clinton Associate Found Dead, Bill and 911 Hillary’s Body Count Increases, Clinton associate Walter Scheib was found dead. He was hired by the Clinton White House to work as a Chef, and continued to serve the Bush administration. Interestingly, he was reported missing during a hike, and his body was found almost 2 miles away at the bottom of a river. No cause of death has ever been made, but the death date is listed as June 13, 2015.

As DC Clothesline said a while back:

Who could forget the bombshell admission of Larry Nichols?

The answer to that is probably almost everyone because very few even know the admission happened:

“Whenever I got an F2 call, that meant go and kill. State police are not trained to kill in … the late ’70s, early ’80s. There were no SWAT teams…. I had an F2 call, that meant go in and kill a guy. I didn’t give a shit…. When it [the order to kill] came from the president [Reagan], it was for God and country. When it came from Clinton, hell, I didn’t give a damn. I just go kill somebody, cut his nuts off.”

Why is it that no one takes this interview seriously? Why has none of the mainstream media reported it? If it is untrue then expose Larry Nichols as a liar and let’s move on. But the media acts like the interview never happened. Larry Nichols and the Clinton’s should be investigated and likely stand trial. Nichols made these comments on a national radio show and no one seems to care. Want to hear the interview? Listen below. It will shock you!

Explosions heard in Brussels as huge fire rips through Belgian capital

NOTE: Christian Pastor Evan Mawarire, proclaiming his government evil and corrupt, asking the people of Zimbabwe to ”BOYCOTT AND DIVEST” nonviolently, is exactly the perfect response to government tyranny. It is the only intelligent human response by a freedom loving people, and most importantly, not only is it the correct response it is exactly what every Christian Saint on the planet is obligated to do.

The fact that all the so called pastors and churches in the United States remain silent on the obvious current global systemic corruption, and are still 501C3 compliant evil sold out government stooges, is a prophetic witness against them. The U.S. pastors and church members are the prophetic Laodicean lukewarm ”HELL BOUND FOOLS” for certain. They are doing nothing collectively and the voices of us calling for ”divestment from the black hole” are not even heard. Our prophetic witness is considered delusional at best and the government considers us as terrorists.

The fact that the ”African American” voters in America voted twice for Obozo the clown, and have been inspired to act violently, as they have been prompted by the true terrorist government they voted for and the likes of a true terrorist, like George Soros etc… Obozo and the Antichrist NWO 666 Central Bankers this government protects and serves, speaks to the evil and inherent stupidity of race bated morons that do not have the brains or moral character to weigh in the balance their want in the light of the prophetic reality and the soundness of a pastors call in Zimbabwe who is making the point, and confirming the fact, stupidity is highest among the violent and the evil among the nations and is at the prophetic peak of government corruption currently fomenting discord and war.

Among the ”African American Culture”, in the corrupted U.S., rests division, stupidity and violence that only provides the government with the ability to tax more and capture the heart and mind of idiots, that remain in silent pews, that shout out stupidity, as the lukewarm remain seated as condemned souls cresting on the verge of the prophetic tribulation.

Zimbabwe pastor Evan Mawarire ‘charged with inciting violence’

What had previously only been hinted by the likes of former US attorney general Eric Holder who infamous said some banks are “too big to prosecute” shortly before resigning, became fact when a US Congressional report found that US officials refused to prosecute HSBC for money laundering in 2012 because of concerns within the DOJ that it would cause a “global financial disaster.” The report also revealed that UK officials, including Chancellor George Osborne, added to pressure by warning the US it could lead to market turmoil. The report alleges the UK “hampered” the probe of the most systemically important UK bank, and “influenced” the outcome.

US Refused To Prosecute HSBC Over Fears Of “Global Financial Disaster”.

As BBC reminds us, some four years ago HSBC was accused of letting drug cartels use US banks to launder funds. The bank, which has its headquarters in London, paid a $1.92bn settlement but did not face criminal charges; likewise all top officials at HSBC avoided any charges.

According to the report “George Osborne, Chancellor of the Exchequer, the UK’s chief financial minister, intervened in the HSBC matter by sending a letter to Federal Reserve Chairman Ben Bernanke… to express the UK’s concerns regarding US enforcement actions against British banks.” The letter said that prosecuting HSBC could have “very serious implications for financial and economic stability, particularly in Europe and Asia”.

In other words, the US liasion who prevented justice at the time was not so much Eric Holder, who was merely doing as instructed, as the then-Fed chairman and resident helicopter money expert, Ben Shalom Bernanke.

Justice Department spokesman Peter Carr said a series of factors were considered when deciding how to resolve a case, including whether there may be “adverse consequences for innocent third parties, such as employees, customers, investors, pension holders and the public”. The report also accuses former US Attorney General Eric Holder of misleading Congress about the decision.

The report says Holder ignored the recommendations of more junior staff to prosecute HSBC because of the bank’s “systemic importance” to the financial markets.

“Rather than lacking adequate evidence to prove HSBC’s criminal conduct, internal Treasury documents show that DOJ [Department of Justice] leadership declined to pursue [the] recommendation to prosecute HSBC because senior DOJ leaders were concerned that prosecuting the bank ‘could result in a global financial disaster’,” the report said. Instead, the Department of Justice and HSBC reached the settlement, which some politicians criticised for being too lenient.

Testifying before Congress in 2013, Holder infamously said the size of some financial institutions can make it difficult to bring criminal charges. He later tried to clarify those remarks telling Congress: “If we find a bank or a financial institution that has done something wrong, if we can prove it beyond a reasonable doubt, those cases will be brought.”

That too was a lie. Congress’s report deemed these comments to be misleading in light of emails from Treasury Department staff that recommended criminal charges.

Eric Holder is now writing a book, due out in 2018. We doubt this episode will be featured in it.

The 2012 settlement with HSBC detailed how the bank violated US sanctions by conducting business for customers in Iran, Libya, Sudan, Burma and Cuba.

HSBC accounts were also used by the Sinaloa drug cartel in Mexico and Norte del Valle cartel in Colombia to launder $881m. The settlement allowed the bank to avoid pleading guilty to any wrongdoing.

If HSBC had been proven guilty of criminal action, it could have lost its banking charter in the US.

As BBC concludes, both HSBC and US regulators declined to comment on the report. The UK Treasury has not commented either. They would both rather comment on the economic recovery by pointing out the stock market being at all time highs.

CATHERINE AUSTIN FITTS: TRANSHUMANIST DEPOPULATION: ELITE ENDGAME – DARK JOURNALIST

CATHERINE AUSTIN FITTS – MATRIX REALITY & GLOBAL CONTROL GRID – DARK JOURNALIST.

Black Hole of Negative Rates Is Dragging Down Yields Everywhere

“Investors worldwide have never faced risk of the magnitude that the world is now exposed to. But sadly, very few are aware of this unprecedented risk. For the ones who understand risk and take the right decisions, it will “lead to fortune.” Only very few will choose that route. Instead, most investors will continue to live in the hope that current trends will go on forever, but sadly these people will end up “in shallows and in miseries.”…

DANGER: The World Is Now On The Verge Of The Largest Destruction Of Wealth In History

“Risk is now staring us all right in our face but as I said, very few people can actually see it. Let’s just be clear what some of these risks are:

* No Sovereign state will ever repay their debt – That is an irrefutable statement and anyone who doesn’t understand that lives in denial. Sovereign debt has increased exponentially in the last couple of decades and governments neither can nor have the intention of ever paying their creditors. They can’t even afford to pay the interest and this is why an ever increasing number of countries have negative interest rates. So not only will they not repay the capital but investors now pay bankrupt nations for the privilege of holding their worthless paper. It is incomprehensible that investors are prepared to hold nearer $100 trillion of debt with no yield or negative yield and no chance of getting their money back. No one worries about the return OF their money and now it seems that investors don’t even worry about getting a return ON their money. This is a shocking state of affairs that eventually will lead to a total collapse of all sovereign debt.

* No bank will ever give depositors their money back – I know that very few believe this statement. Because if bank depositors did, they would not keep around $200 trillion of assets in the financial system plus another $1.5 quadrillion in addition in the banking system. Bank stocks in Europe, whether it is Deutsche Bank in Germany or bank Monte Paschi in Italy, are continuing to crash to new lows. As I stated in a recent article, the share price of most European banks as well as many US banks like Citigroup or Bank of America have collapsed 70-95% since 2006 and they are on their way to ZERO. Consumer borrowing is still growing exponentially. Student loans in the US now total $1.4 trillion, up a MERE 3x since 2006. And the delinquency rate is increasing exponentially as most students can’t find a job.

* Stock markets will fall 90% or more – I know that most investors will think that this is a sensational statement from someone totally deranged. But let me just remind investors that when the Dow crashed 90% between 1929 and 1932, the economic conditions in the USA and the rest of the world were far superior to the ones we are experiencing currently. Economic conditions are deteriorating fast worldwide but stock markets are continuing to go up to dizzy levels. Investors are putting their faith in funny or printed money. S&P earnings have declined for 5 straight quarters. The Dow is now valued at a jaw-dropping 24x GAAP earnings. And sales revenue, adjusted for share buybacks, is down 1/3 since 2006. Yes, governments worldwide will, this year, launch the most massive money printing program in history. But that will be like pushing on a string and will have zero effect on the world economy. The time when the misconceived Keynesian methods of creating prosperity by printing worthless pieces of paper (or electronic money) is now passed. The printed money will only exacerbate the debt problem. And the world will soon learn that you cannot solve a problem by applying the same methods that caused the problem in the first place.

* Property markets will collapse – Low interest rates and speculative frenzy have created bubble property markets worldwide. We had the first warning signal in 2006, but through massive money printing and guarantees to the extent of US$25 trillion, governments and central banks managed to postpone the inevitable. Since then, global debt has increased by 2/3 and interest rates have declined from around 6% to zero or negative. In Switzerland, a 15-year mortgage now costs 1.25% and in Sweden you don’t need to ever amortize your mortgage. And in the UK, 6 major commercial property funds have now frozen redemptions. That represents 50% of the commercial property funds and is a grave sign that should be taken as seriously as the 2006 subprime crisis. China, with its $34 trillion debt and many ghost towns and empty properties, will also have massive problems.

* Currencies will go to ZERO – The deficit spending of most countries and ensuing debt explosion will put continued pressure on all currencies. Most currencies have lost 97 – 99% in real terms in the last 100 years. The last 2 – 3% fall will probably take place in the next 4 – 7 years. But the problem is that this last fall is 100% from here. This means that all currencies will go to their intrinsic value of ZERO in the next few years. So any cash savings will be worthless.

* Geopolitical risks and social unrest – These are higher than ever at any time in history, whether it is in the Middle East, between the US and Russia, China, etc, or civil unrest in Europe, the US, China or the rest of the world.

The Largest Destruction Of Wealth The World Has Ever Seen
The above may sound like a prophecy of doom and gloom. For investors who want the good news, they can just listen to any TV channel or read the newspapers. There are very few places where risk is spelled out properly. I obviously hope that my forecasts above are totally wrong but I fear that I will be right. And therefore, I believe that it is essential for investors as well as people who don’t have much to protect to take whatever safety measures they can.

Gold and silver will not solve all the potential problems or catastrophes that the world will encounter in the next few years. But it is probably the best insurance that investors can hold to protect their capital against potentially the largest destruction of wealth that the world has ever encountered. Naturally, it must be physical gold and silver and it must be held outside of the financial system.”

S&P 500 To Open At All Time Highs After Japan Soars, Yen Plunges On JPY10 Trillion Stimulus

Our good friend Michael Pollaro just sent a chart from the St. Louis Fed that shows the US drifting back into yet another banking crisis.

The green line tracks fluctuations in the US yield curve, defined as the difference in yield between 10-year and 2-year Treasuries. When the yield curve is steeply positive, banks are able to borrow short at low rates and lend long at higher rates, earning a nice return and in the process driving economic growth. When the yield curve flattens the opposite occurs, with banks unable to make money and becoming reluctant to lend. So a flattening yield curve implies a slowing economy. Note the similarity between the past few years’ spread contraction and the one that began in 2004 and culminated in the Great Recession.

Now check out the red and blue lines representing different measures of credit quality. The lower they are, the fewer loans are in various categories of “non-performance,” and vice versa. What’s happening now is similar to the spike in bad loans that started in 2005.

The implication: Despite the headline numbers (like Friday’s largely-fictitious jobs report) that imply a stable, modest expansion, under the surface the financial system — composed of business loans, bank profits, etc. — is deteriorating fast.

And since interest rates have fallen rather than risen post-Brexit, causing yield curves around the world to flatten further, it’s safe to say that these trends are accelerating.

That would explain why so many iconic money managers and speculators have turned publicly bearish recently. The latest is Jeremy Grantham of Boston-based hedge fund GMO. Here’s an excerpt from a MarketWatch article on his firm’s current stance:

Investment firm that called the 2008-09 crash doesn’t like most stocks or bonds

You need a portfolio of at least $5 million to get in the door as a client at Boston-based money management firm GMO.And with some reason. The firm is famous for predicting the last two financial crashes ahead of time, and firm chairman Jeremy Grantham is a legendary figure on Wall Street. His quarterly letters are required reading by anyone managing other people’s money.

GMO is usually seen as too bearish, but in an industry that is generally far too bullish that’s no bad thing. And often forgotten is that the firm has made some terrific contrarian buy recommendations too — such as emerging markets and value stocks at the start of the last decade, and of stocks generally in the wake of the 2008-09 crash.

But for those of us who don’t have $5 million or $10 million knocking around, what’s GMO’s best advice at the moment? To find out, I spoke to Matt Kadnar, a member of the firm’s asset allocation committee. Here’s what he said about how GMO perceives the current global investing environment:

1. The overall investment outlook is really, really dismal. “There is no asset out there that is cheap,” Kadnar says. None.

2. The outlook for U.S. stocks is terrible. GMO’s central forecast — which is a directional estimate more than a precise prediction — warns that U.S. large- and small-cap stock indices are now both so overpriced compared to history that they will probably lose value, compared to inflation, over the next seven or so years.

3. In the wake of the emerging markets slump and now Brexit, investors are becoming almost as dangerously fixated on U.S. stocks as they were (disastrously) in 2000, according to GMO. Kadnar says that once again, clients are starting to ask why anyone needs to own anything other than the S&P 500.

4. Investors also are likely to end up losing — after inflation — over the next seven years or so on U.S. bonds, cash, and small-cap international stocks, GMO’s current central forecast predicts. The firm also sees minuscule post-inflation, or “real” returns, on both international large-cap stocks and emerging-market bonds.

Equity investors have been fooled twice in the last six months… is 3rd time the charm?

http://finviz.com

After a full year of deliberation, the Nascent Sanhedrin has announced that this year is the first year in the counting of the 50-year Jubilee cycle. This not only reinstates a Biblical commandment, but it has implications for Israel’s status as a Biblically mandated nation, returning the land to the Jews and ensuring each Jew an inheritance in the land.

The Jubilee (Hayovel in Hebrew) is a Biblical commandment that is observed exclusively in the land of Israel. It is the fiftieth year that comes after a period seven sabbaticals. The year triggers a number of Biblical commandments concerning property rights and returning the land to its original inheritors, the Jews who were allocated the land by lottery. Debts were forgiven and slaves who sold themselves due to debt were set free.

Sanhedrin Declares Jubilee and the Third Arrival of the Jews in Israel

The Jubilee is dependant upon certain conditions pertaining to Jews being in the land, though there are many differing opinions about the specific requirements. As a result, the Jubilee has not been observed since the Second Temple when the Jews returned from the Babylonian Exile.

For the time being, there is no practical implication and in truth, very few Jews have acknowledged the Sanhedrin’s Jubilee decision. Nonetheless, this was a groundbreaking decision that will have tremendous consequences in the future.

Rabbi Hillel Weiss, secretary of the Nascent Sanhedrin, explained their controversial decision to reinstate the Jubilee to Breaking Israel News.

“First we had to decide if the conditions exist to do so. This is done by a bet din (Jewish court) when it has been established that Jews have returned to inherit the land as a nation, and not just as individuals,” the rabbi explained. Rabbi Weiss explained that unlike most Torah commandments which are based on the personal observance of each Jew, the Jubilee has to do with Israel’s national identity.

“The Jubilee is a national mitzvah (commandment) that requires an independent Jewish nation to be in the Land of Israel. The Sanhedrin has ruled that we are now clearly in the prophesied third inheritance of the land, the first being by Joshua, the second after the Babylonian exile.”

Rabbi Weiss stated, “It is time to begin observing the positive commandment of counting the Jubilee.”

“Most of the Jews who do not deny their Jewish identity are living in Israel today. There is no Jewish nation outside of the Land of Israel,” he said. “There must be at least 600,000 Jews, like the number that returned to Israel from Egypt under Joshua.”

Images for Jerusalem Masonic Supreme Court Antichrist

Genuine Born Again Christians have normally not given King Solomon’s Temple much thought, for we realize that Jesus Christ fulfilled all the types and shadows of the Old Testament law, of which the Temple was an integral part. Jesus foretold in Matthew 24 that the glorious Herodian Temple, which was modeled after the Solomon Temple, would be totally destroyed. Listen:

“And Jesus went out, and departed from the temple: and his disciples came to him for to show him the buildings of the temple. And Jesus said unto them, See ye not all these things? verily I say unto you, There shall not be left here one stone upon another, that shall not be thrown down.” [Matthew 24:2; Parallel Bible, KJV/Amplified Bible Commentary]

History records that this Temple which had so impressed Jesus’ disciples was destroyed in A.D. 70. It was destroyed by the Roman Army that had laid siege to the city; further, even though the soldiers were under strict orders to not destroy the Temple, they set fire to it, and caused that fire to burn so hot for so long, and so thoroughly, that the stones heated hot enough to turn the gold liquid, flowing out of even the mortars of the bricks. When the fire cooled, Jesus’ prophecy was exactly fulfilled..

FERVENT MASONIC DESIRE TO REBUILD SOLOMON’S TEMPLE IS THE DRIVING FORCE BEHIND THE EVENTS OF THE MID-EAST TODAY. ONCE COMPLETED, END TIMES’ PROPHECY WILL BE FULFILLED!

In New Testament Epistles, neither Paul nor any other Apostle emphasized the Temple; in fact, they virtually ignored it! The writer to the Hebrews made it quite clear that the Covenant of Jesus Christ completely abolished the First Covenant of which the magnificent Temple was such an important part. Listen to Hebrews:

“Now if perfection (a perfect relationship between God and the worshipper) had been attainable by the Levitical priesthood — for under it the people were given the Law — why was it further necessary that there should arise another, and different kind of Priest, one after the order of Melchizedek, rather than one appointed after the order and rank of Aaron? For when there is a change in the priesthood, there is of necessity an alteration in the law [concerning the priesthood) as well.” [Hebrews 7:11-12; Parallel Bible, KJV/Amplified Bible Commentary]

This passage makes it quite obvious that God considered the First Covenant to be defective, and in dire need of replacement! And, when you change the covenant, you change the priesthood, and the Law concerning the priesthood. It does not take too much imagination to realize that, if God was going to change the First Covenant and abolish its priesthood, He would abolish the Temple as well. For this reason, we read of God’s action taken when Jesus was hanging on the cross, immediately after He “gave up the ghost”:

“And, behold, the veil of the temple was rent in twain from the top to the bottom.” [Matthew 27:51; Parallel Bible, KJV/Amplified Bible Commentary]

God supernaturally ripped the Temple curtain separating the Holy Place from the Holy of Holies, while the sanctuary was filled with parishioners worshipping during the annual sacrifice for the sins of the Israel. Suddenly, they must have been filled with shock and fear as God abruptly ripped the curtain, throwing the Holy of Holies wide open. Many of them must have feared death, for no one could enter the Holy of Holies and live, except for the High Priest, and he only once a year. Tearing the curtain in two was God’s signal that the First Covenant, with its Temple and priesthood, was now irrelevant, and was now to be replaced by His Second Covenant through Jesus Christ.

The writer to the Hebrews picks up this very theme:

“In keeping with [the oath’s greater strength and force], Jesus has become the Guarantee of a better (stronger) agreement [a more excellent and more advantageous covenant].” [Hebrews 7:22; Ibid.]

Again, Hebrews says: “When God speaks of a new [covenant or agreement], He makes the first one obsolete (out of use). And what is obsolete (out of use and annulled because of age) is ripe for disappearance and to be dispensed with altogether.” [Hebrews 8:13; Ibid.]

Did you catch that? “… ripe for disappearance and to be dispensed with altogether.”

Therefore, genuine Christians have virtually ignored the Solomon and Herodian Temples, except to arrive at a proper understanding of the Old Testament Covenant. We certainly understand that God destroyed the Temple because He had instituted the superior Second Covenant through the new superior High Priest, Jesus Christ. To us, the Solomon Temple is just an interesting piece of Ancient History!

But, not so with the pagan Freemasons. In their religion, the Temple plays a very, very important role.

MASONS DECLARE FREEMASONRY TO BE A RELIGION!

Let us stop here for a moment, to dispense with the current Masonic lie that their organization is not a religion. Let us review some quotes:

“Every Masonic Lodge is a temple of religion, and its teachings are an instruction in religion.” [“Morals and Dogma”, Albert Pike, p. 231-L]

“It [Masonry] is the universal, eternal, immutable religion, such as God planted it in the heart of universal humanity.” [Ibid., p. 219-M]

“But the Masonic organizations in which these legends were cherished, like Masonic Lodges today, were religious bodies.” [The Holy Bible: The Great Light In Masonry”, King James Version, Temple Illustrated Edition, A.J. Holman Company, 1968, p. 26]

“… Masonry may rightfully claim to be called a religious institution.” [“A New and Revised Edition: An Encyclopaedia of Freemasonry and Its Kindred Sciences”, by Albert Mackey, M.D., 33º, Volume II, p. 618.

Do not be deceived; Freemasonry is a religion!

THE SOLOMON TEMPLE IS THE HEART AND SOUL OF FREEMASONRY!

Now that we have amply demonstrated that the genuine Christian has no close affinity to Solomon’s Temple, because He destroyed it and annulled the Levitical Priesthood that accompanied it, let us examine how important this temple is to the practice of the Masonic religion.

“Of all the objects which constitute the Masonic science of symbolism, the most important, the most cherished, by the Mason, and by far the most significant, is the Temple of Jerusalem. The spiritualizing of the Temple is the first, the most prominent and the most pervading, of all symbols of Freemasonry … Take from Freemasonry its dependence on the Temple; leave out of its ritual all references to that sacred edifice, and to the legends and traditions connected with it, and the system itself would at once decay and die … ” [“Encyclopaedia of Freemasonry”, by Albert Mackey, MD, 33º and Charles T. McClenachan, 33º, Revised Edition, by Edward L. Hawkins, 30º and William J. Hughan, 32º, Volume II, M-Z, published by The Masonic History Company, Chicago, New York, London, 1873, A.G. Mackey, 1927, by the Masonic History Company.]

Let us repeat the critical understanding that the noted 33º Masonic author, Albert Mackey, has just given us:

“Take from Freemasonry its dependence on the Temple; leave out of its ritual all references to that sacred edifice, and to the legends and traditions connected with it, and the system itself would at once decay and die … ”

Therefore, genuine Christians have virtually ignored the Solomon and Herodian Temples, except to arrive at a proper understanding of the Old Testament Covenant. We certainly understand that God destroyed the Temple because He had instituted the superior Second Covenant through the new superior High Priest, Jesus Christ. To us, the Solomon Temple is just an interesting piece of Ancient History!

But, not so with the pagan Freemasons. In their religion, the Temple plays a very, very important role.

MASONS DECLARE FREEMASONRY TO BE A RELIGION!

Let us stop here for a moment, to dispense with the current Masonic lie that their organization is not a religion. Let us review some quotes:

“Every Masonic Lodge is a temple of religion, and its teachings are an instruction in religion.” [“Morals and Dogma”, Albert Pike, p. 231-L]

“It [Masonry] is the universal, eternal, immutable religion, such as God planted it in the heart of universal humanity.” [Ibid., p. 219-M]

“But the Masonic organizations in which these legends were cherished, like Masonic Lodges today, were religious bodies.” [The Holy Bible: The Great Light In Masonry”, King James Version, Temple Illustrated Edition, A.J. Holman Company, 1968, p. 26]

“… Masonry may rightfully claim to be called a religious institution.” [“A New and Revised Edition: An Encyclopaedia of Freemasonry and Its Kindred Sciences”, by Albert Mackey, M.D., 33º, Volume II, p. 618.

Do not be deceived; Freemasonry is a religion!

THE SOLOMON TEMPLE IS THE HEART AND SOUL OF FREEMASONRY!

Now that we have amply demonstrated that the genuine Christian has no close affinity to Solomon’s Temple, because He destroyed it and annulled the Levitical Priesthood that accompanied it, let us examine how important this temple is to the practice of the Masonic religion.

“Of all the objects which constitute the Masonic science of symbolism, the most important, the most cherished, by the Mason, and by far the most significant, is the Temple of Jerusalem. The spiritualizing of the Temple is the first, the most prominent and the most pervading, of all symbols of Freemasonry … Take from Freemasonry its dependence on the Temple; leave out of its ritual all references to that sacred edifice, and to the legends and traditions connected with it, and the system itself would at once decay and die … ” [“Encyclopaedia of Freemasonry”, by Albert Mackey, MD, 33º and Charles T. McClenachan, 33º, Revised Edition, by Edward L. Hawkins, 30º and William J. Hughan, 32º, Volume II, M-Z, published by The Masonic History Company, Chicago, New York, London, 1873, A.G. Mackey, 1927, by the Masonic History Company.]

Let us repeat the critical understanding that the noted 33º Masonic author, Albert Mackey, has just given us:

“Take from Freemasonry its dependence on the Temple; leave out of its ritual all references to that sacred edifice, and to the legends and traditions connected with it, and the system itself would at once decay and die … ”

Therefore, the first understanding we want you to grasp is that Freemasonry is absolutely, completely, 100% devoted to the Solomon Temple, without which the entire structure and foundation of Freemasonry would die! Thus does Masonry stand in stark contrast to genuine, Biblical Christianity. In other words, Freemasonry is rooted at its deepest foundation to the First Covenant of the Old Testament, while Biblical Christianity is rooted to the Second Covenant of Jesus Christ as delineated in the New Testament!

Mackey makes this fact quite clear also: “Masonry has derived its temple symbolism, as it has almost all its symbolic ideas, from the Hebrew type …” [Ibid] Since the Old Testament was written originally in the Hebrew, and the New Testament in the Greek, Mackey is clearly stating that Freemasonry is rooted in the Old Testament!

In the Masonic Bible, quoted above, the Temple Illustrated Edition, the author of the Foreword sheds some further light upon the importance of Solomon’s Temple to Freemasonry.

“The traditions and romance of King Solomon’s Temple are of great interest to everyone who reads the Bible. They are of transcendent importance to Masons. The Temple is the outstanding symbol in Masonry, and the legendary story of the building of the Temple is the fundamental basis of the Masonic rule and guide for conduct in life … The cream of Masonic historical and philosophical writing has been drawn upon for his description of the Temple and its relation to Masonic ritual.” [The Holy Bible: The Great Light In Masonry”, King James Version, Temple Illustrated Edition, A.J. Holman Company, 1968, Forward entitled, “The Bible and King Solomon’s Temple in Masonry”, by John Wesley Kelchner].

Let us review the important segment:

“The traditions and romance of King Solomon’s Temple … are of transcendent importance to Masons.”

The word, “transcendent”, is used by genuine Biblical Christianity to describe God Himself. Just as the dictionary explains, God is truly “transcendent”, “to pass beyond the limit that humans can grasp”; “to exist above and independently of material experience or the universe”. In other words, Solomon’s Temple is to the Freemason what God is to the genuine Christian!

Thus, belief in Solomon’s Temple transcends all of Freemasonry itself, existing above and independently of it. Masonry has placed its “transcendent” faith in a building that the True God Himself destroyed, not once, but twice!

SPIRITUALIZING SOLOMON’S TEMPLE

Starting at the end of the quote from the Temple Illustrated Edition Bible, above, we read:

“… In all the rich symbolism of Ancient Craft Masonry two symbols, or symbolic themes, predominate. One is the search for light; the other is the labor of building. The source of light is the Holy Bible, and the grand representation of the builder’s art is King Solomon’s Temple …. It was natural that imaginative stone Masons, long before the development of anything like our modern fraternity, should have felt a kinship with the great builders of all ages. It was natural also that they should have acknowledge a peculiar attraction for the most famous and glorious of all building enterprises, King Solomon’s Temple and Citadel. Interest and attraction for the wonderful structure on Mt. Moriah have increased rather than diminished … until today the Temple of Solomon is the spiritual home of every Mason.” [Masonic Holy Bible, Temple Illustrated Edition, A.J. Holman Co., 1968, p. 11-14]

A short while later, these authors explain: “King Solomon’s Temple was the perfect architectural expression of the religious faith of a people.” [P. 25] “Perhaps Masonic interest also increased from a more or less incidental notice of the Temple to a final preoccupation with it as a symbol of spiritual man. [P. 29; Emphasis added]

Indeed, Masonic leadership has spiritualized the meaning of the Temple in the life of each and every Mason. Albert Mackey explains: “To the Master Mason, the Temple of Solomon is truly the symbol of human life … it becomes a fit symbol of human life occupied in the search after Divine Truth, which is nowhere to be found … Such is the symbolism of the first Temple, that of Solomon, as familiar to the class of Master Masons.” [“Encylopaedia of Freemasonry, Mackey, p. 774; Emphasis added]

However, while Solomon’s Temple is the symbol of mortal human life to the Master Mason, a higher class of Masons ascribe a different interpretation to yet another Temple. Listen to Mackey explain:

“But there is a second and higher class of the Fraternity, the Masons of the Royal Arch, by whom this temple symbolism is still further developed. This second class, leaving their early symbolism, and looking beyond this Temple of Solomon, find in Scriptural history another Temple, which years after the destruction of the first one, was erected upon its ruins; and they have selected the second Temple, the Temple of Zerubbabel, as their prominent symbol. And, as the first class of Masons find in their Temple the symbol of mortal life, limited and perishable, they, on the contrary, see in this second Temple, built upon the foundations of the first, a symbol of life eternal, where the lost truth shall be found, where new incense shall arise from a new altar, and whose perpetuity their great Master had promised when, in the very spirit of symbolism, he exclaimed, ‘Destroy this temple, and in three days I will raise it up’.”

“And so to these two classes or Orders of Masons the symbolism of the Temple presents itself in a connected and continuous form. To the Master Mason, the Temple of Solomon is the symbol of this life; to the Royal Arch Mason, the Temple of Zerubbabel is the symbol of the future life. To the former, his Temple is the symbol of the search for truth; to the latter, his is the symbol of the discovery of truth; and thus the circle is completed and the system made perfect.” [Ibid., Pages 774-775; Emphasis added]

The Temple is so very important to the Mason that he took the final step to spiritualize its meaning. Master Masons look upon Solomon’s Temple as their symbol of human life, while Royal Arch Masons consider the inferior Temple of Zerubbabel as their symbol of eternal life! The two symbols, taken together, form a spiritual circle, thus “perfecting” the Masonic symbolic system!

Now, you can understand how the Temple of Solomon became such a “transcendent” issue for the Mason!

LOGICAL CONCLUSION OF THIS TRANSCENDENT BELIEF IN SOLOMON’S TEMPLE

Since Freemasonry reverences Solomon’s Temple so very much, and since this Temple holds such a pre-eminent position in all of Freemasonry, from its foundation to its very roof, is it much of a stretch to understand that Freemasons might fervently desire to re-build Solomon’s Temple on the only place on earth it can possibly be built — the Temple Mount in Jerusalem?

Let us examine some of these writings to see the fervent desire of Freemasons to rebuild Solomon’s Temple!

“The Freemasons have, at all events, seized with avidity the idea of representing in their symbolic language the interior and spiritual man by a material temple … The great body of the Masonic Craft, looking only to this first Temple erected by the wisdom of King Solomon, make it the symbol of life; and as the great object of Masonry is the search after truth, they are directed to build up this temple as a fitting receptacle for truth …” [“Encyclopaedia of Freemasonry”, by Albert Mackey, MD, 33º and Charles T. McClenachan, 33º, Revised Edition, by Edward L. Hawkins, 30º and William J. Hughan, 32º, Volume II, M-Z, published by The Masonic History Company, Chicago, New York, London, 1873, A.G. Mackey, 1927, by the Masonic History Company, p. 774]

The word, “avidity” is defined as “eagerness, greed”. Therefore, we can see that they are “directed to build up this temple” with eagerness and greediness! Mackey then goes on to talk about this new temple and some of its new fixtures.

“… new incense shall arise from a new altar, and whose perpetuity their great Master had promised when, in the very spirit of symbolism, he exclaimed, ‘Destroy this temple, and in three days I will raise it up’.” [Ibid.]

“New incense” arising from a “new altar”, in a Temple that Mackey has just associated with the “great Master Mason”, Jesus Christ! In other words, Mackey has linked the new Temple with a Christ or Messianic figure. In another book, Masonic author, Edward Waite, is even more explicit. Listen:

“The Temple of Masonry is hence forward the house of Christ’ … [Edward Waite, p. 486-7, “A New Encyclopedia of Freemasonry and of Cognate Instituted Mysteries: The Rites, Literature and History”, Volume II, reprinted in 1970 by Weathervane Books., p. 314]

The new Solomon Temple is henceforth to be called the “house of Christ”. The naive might think Waite is referring to Jesus Christ, but Waite did not say that, did he? Do you know that the term “Christ” literally means the “office of the promised Messiah”? Jesus fulfilled that office when He lived and ministered among men, and He was recognized as having fulfilled that Messianic office. Listen:

“And Simon Peter answered and said, Thou art the Christ, the Son of the living God.” [Matthew 16:16] Notice Peter said “Thou are the Christ”; in other words, Peter recognized that Jesus was the Divine/human fulfillment of this office of Messiah.

“And the high priest answered and said unto him, I adjure thee by the living God, that thou tell us whether thou be the Christ, the Son of God.” [Matthew 26:63] The high priest asked Jesus point blank if He was the fulfillment of that Messianic office.

“… the people were in expectation, and all men mused in their hearts of John, whether he were the Christ, or not” [Luke 3:15] Even the common Jew understood this distinction between the office [“the Christ”] and the man Who would fill it.

However, the Bible says that another Christ shall arise, and he shall be the Antichrist, or one who comes in the guise of Christ, pretending to be the Messiah. Unfortunately, most the people living at that time will be deceived into believing him to be Messiah, and will enthusiastically follow him [Revelation 13:3b-4].

Since Masonry is a counterfeit Christianity, it seems logical that Mackey and Waite might be talking about Antichrist, not Jesus Christ. Therefore, Waite really said:

“The Temple of Masonry is hence forward the house of [anti-]Christ”.

If plans are really afoot to rebuild Solomon’s Temple, it will be for Antichrist, not Jesus Christ. And the Bible foretells just this kind of event, does it not? Listen:

“And many false prophets will rise up and deceive many into error [Verse 11] … “So when you see the appalling sacrilege [the abomination that astonishes and makes desolate], spoken of by the prophet Daniel, standing in the Holy Place ….” [Matthew 24:15; Parallel Bible, KJV/Amplified Bible Commentary]

Jesus is quoting Daniel 9:27, 11:31, and 12:11, in which Antichrist will go into the Holy of Holies and commit the “Abomination that Causes Desolation”. The Apostle Paul gives us more insight as to why Antichrist’s actions are so offensive to God.

“… and the man of lawlessness (sin) is revealed, who is the son of doom (of perdition), who opposes and exalts himself so proudly and insolently against and over all that is called God or that is worshipped [even to his actually] taking his seat in the Temple of God, proclaiming that he himself is God.’ [2 Thessalonians 2:3b-4; Parallel Bible, KJV/Amplified Bible Commentary]

Matthew 24:15 suddenly depicts Antichrist walking into the Holy of Holies to declare himself to be God, and proudly demanding that he be worshipped as God. Revelation 13:15 tells us that Antichrist will actually erect an image created in his likeness; this image will not only be able to speak, but will possess the supernatural power to kill anyone who does not worship it!

Now we understand. Antichrist will walk into a rebuilt Temple standing on the Temple Mount in Jerusalem, declare himself to be God, demand to be worshipped as such, and erect a talking image made in his likeness!

Therefore, the re-built Temple of which Jesus foretells is directly linked to Antichrist! Why should we be surprised to learn from Waite that “The Temple of Masonry is hence forward the house of Christ”? This planned new temple shall be the Temple of Antichrist, in complete fulfillment of Scripture.

BUILDING ANOTHER TEMPLE IN JERUSALEM

“… in the High Grades [of Masonry] we hear of a secret intention to build yet another temple at Jerusalem.” [Author, Edward Waite, p. 486-7, “A New Encyclopedia of Freemasonry and of Cognate Instituted Mysteries: The Rites, Literature and History”, Volume II, reprinted in 1970 by Weathervane Books].

In the late 1800’s, Masonic author and authority, Edward Waite, boldly stated that a secret plan does exist within Freemasonry to “build yet another temple at Jerusalem”. This poses a problem, does it not? In the mid-600’s, the Muslim Dome of the Rock was built squarely on the Temple Mount in Jerusalem. Therefore, any “secret intention” of the top Masonic leadership to rebuild Solomon’s Temple at Jerusalem must necessarily include a plan to remove the existing Dome of the Rock!

Thus we read of just such a plan being executed, in New World Order author, Peter Lemesurier, writing in his book, The Armageddon Script: “… it may be possible for the New David to ride into Jerusalem in all his resplendent majesty. Note the word ‘ride’ … on a donkey as predicted in Zechariah 9:9 … it would seem advisable for the new Messiah to repeat it, donkey and all … The processional route will, of course, lie directly across the Kidron ravine, as close as possible to the Temple Mount … he must be duly enthroned and anointed with oil (in token of Psalm 45:6-7) amid the rubble of the dome of the Rock …” [P.. 233-35]

Thus, you see clearly the plan to reduce the Dome of the Rock to rubble so Solomon’s Temple can be rebuilt; further, Lemesurier ties this destruction of the Dome of the Rock to the appearance of the “New David”, the New Age Christ — the Masonic Christ actually, whom the Bible calls Antichrist.

Adding to the declaration of the fervency of this “secret intention to build yet another temple at Jerusalem”, we read:

“Perhaps Masonic interest also increased from a more or less incidental notice of the Temple to a final preoccupation with it as a symbol of spiritual man.” [Masonic Holy Bible, Temple Illustrated Edition, 1968, P. 29]

To Reiterate:

Masons are “preoccupied” with King Solomon’s Temple.

They are so “preoccupied” that they have gone to great lengths to justify building a new Solomon’s Temple on the Temple Mount in Jerusalem. Listen:

“Concerning the building of this temple, the Zohar teaches that Solomon’s Temple was not built according to the original plans … In a word, the Lord did not build the House, and they laboured in vain that built it … There is a time, however, to come, when the Holy One shall remember His people, Israel, and the Lord shall build the House.” [Author, Edward Waite, p. 486-7, “A New Encyclopedia of Freemasonry and of Cognate Instituted Mysteries: The Rites, Literature and History”, Volume II, reprinted in 1970 by Weathervane Books].

To Reiterate:

“Zohar teaches that Solomon’s Temple was not built according to the original plans … In a word, the Lord did not build the House, and they laboured in vain that built it … There is a time, however, to come when the Holy One shall remember His people, Israel, and the Lord shall build the House.”

Now that we have been told that Solomon did not follow God’s original plan in building his Temple, we realize the importance Masons lay upon a “Holy One” that shall come, to “remember His people, Israel”, and shall commemorate that remembrance by finally building a house that He had originally intended Solomon to build! In other words, King Solomon messed up the royal plans for the Temple! He did not follow God’s original plan, so God allowed Solomon’s magnificent Temple to be destroyed! The Coming Christ will rebuild it, but shall build it according to the original Divine Plan.

Now, can you appreciate the ruling handed down a few years ago by the Orthodox Jewish leadership that “only Messiah can build the Temple”? When the Masonic Christ shall come, then shall be fulfilled Waite’s quote, “the Lord shall build the House”!

“AWAITING THE MAN”

Shockingly, the modern Masonic Bible, quoted above, verifies the fact that the Solomon Temple will have to await the appearance of a very special man. Listen:

“It is known to every reader of the Bible and student of Solomon’s days, that an amazingly detailed description of the Temple and its associated structures has been carried down from the mists of antiquity by the Scriptures. Lineal measurements, materials employed, and ornamental detail are so graphically presented that restoration of the Temple, at any time within a score of centuries past, awaited only the coming of a man with the vision to recognize its historic value, and the imagination to undertake the task.” [Foreword, “The Bible and King Solomon’s Temple in Masonry”, by John Wesley Kelchner, 1968, A. J. Holman Company.]

To Reiterate the Key Point:

“… restoration of the Temple … awaited only the coming of a man with the vision …”

TODAY’S NEWS EVENTS ARE BEING DRIVEN BY THIS PLAN

Once you understand that Middle Eastern events are being driven by this fervent Masonic desire to rebuild Solomon’s Temple on the Temple Mount in Jerusalem, then you will be able to make sense of what is occurring over there today. To finally realize this dream, control of Jerusalem generally, and of the Temple Mount, especially, must pass from Israeli control; but it must not pass to Arab control. Rather, control of Jerusalem must pass to the Illuminized International Community.

God is using this Masonic “preoccupation” with Jerusalem to pull all the nations of the world together against Jerusalem. Literally, out of the smoke, devastation, and terror of the planned World War III, The Christ [Antichrist] shall come striding, just as Peter Lemesurier indicated in his book, “The Armageddon Script”. [Note carefully, that Illuminized Freemasonry derives its entire Satanic religion from the Hebrew type; thus, the Arab is considered an enemy, to be vanquished. All Arabs need to understand they are targeted for extinction, as their strongly monotheistic religion will never allow them to completely accept the claims of The Christ. We have detailed the plan by which this eradication shall occur, in stages — NEWS1631, entitled, “Blood In The Streets”.]

The Christ shall enact the scenario Lemesurier outlined, where he shall be anointed Messiah, standing “amidst the rubble of the Dome of the Rock”. Illuminized Western Freemasonry — driven by the United Kingdom, the United States, and Israel — are carefully maneuvering events in the Middle East to so precipitate the war that will not only allow their Christ to arise [Tim Cohen, “Antichrist and A Cup of Tea”], but will destroy the Dome of the Rock by either a deliberately induced earthquake or war [Peter Lemesurier, “The Armageddon Script”].

As Cohen so strongly states, the key leadership in this script is in London, at the House of Windsor. They make the policy, and officials of the United Kingdom, the United States and Israel implement it. We have noted lately the true “Axis of Evil” driving world events — England, United States, and Israel. While some consider Spain’s King Juan Carlos to be a prime candidate for Antichrist, I have not read of a stronger case for either Prince Charles or William than Cohen presents in his “Antichrist and A Cup of Tea”. We have been able to trace the beginning of this entire modern flow of history all the way back to British Illuminist Francis Bacon and the equally Illuminist Queen Elizabeth I. But, that is the grist for another story to be told at another time! However, the point is that, as the beginning of the Illuminized plan for the New World Order can be traced back to the 1590’s to British leadership, it makes sense that Antichrist shall ultimately come from Great Britain.

Thus, we can understand the many plans the Illuminati has laid to make rebuilding Solomon’s Temple a reality. Consider our previous articles which have talked at length about International Control of Jerusalem:

Antichrist Muslim leader hosts Antichrist rabbis, welcomes 3rd Temple

A prominent Antichrist Jive Turkish Muslim leader hosted a gathering of Israeli Antichrist rabbis to call for an end of anti-Jewish sentiment in the Antichrist Islamic world, saying he looks forward to the rebuilding of the Third Temple in Jerusalem.

Oktar explained that the days when the Prophet Solomon’s Masjid and Palace (Solomon’s Temple) will be rebuilt in an atmosphere of global peace and tranquility are at hand. Abrahamson, a historian and consultant to the Sanhedrin regarding issues related to Islam, emphasized the rebuilding of the Temple is a very good development for all mankind.

Matthew 24

“So when you see the [b]abomination of desolation [the appalling sacrilege that astonishes and makes desolate], spoken of by the prophet Daniel, standing in the Holy Place (let the [c]reader understand), 16 then let those who are in Judea flee to the mountains [for refuge]. 17 “Whoever is on the housetop must not go down to get the things that are in his house [because there will not be enough time]. 18 “Whoever is in the field must not turn back to get his coat. 19 And woe to those who are pregnant and to those who are nursing babies in those days! 20 Pray that your flight [from persecution and suffering] will not be in winter, or on a Sabbath [when Jewish laws prohibit travel]. 21 For [d]at that time there will be a great tribulation (pressure, distress, oppression), such as has not occurred since the beginning of the world until now, nor ever will [again]. 22 And if those days [of tribulation] had not been cut short, no human life would be saved; but for the sake of the elect (God’s chosen ones) those days will be shortened.

Daniel 2

As the [ten] toes of the feet were partly of iron and partly of clay, so some of the kingdom will be strong, and another part of it will be brittle. 43 And as you saw the iron mixed with common clay, so they will combine with one another in the seed of men; but they will not merge [for such diverse things or ideologies cannot unite], even as iron does not mix with clay.

44 In the days of those [final ten] kings the God of heaven will set up a kingdom that will never be destroyed, nor will its sovereignty be left for another people; but it will crush and put an end to all these kingdoms, and it will stand forever. 45 Just as you saw that a stone was cut out of the mountain without hands and that it crushed the iron, the bronze, the clay, the silver and the gold, the great God has revealed to the king what will take place in the future; so the dream is true and its interpretation is trustworthy.”

Revelation 11

Then there was given to me a [a]measuring rod like a staff; and someone said, “[b]Rise and measure the temple of God and the altar [of incense], and [count] those who worship in it. 2 But leave out the court [of the Gentiles] which is outside the temple and do not measure it, because it has been given to the Gentiles (the nations); and they will trample the holy city for forty-two months (three and one-half years). 3 And I will grant authority to My two witnesses, and they will prophesy for twelve hundred and sixty days (forty-two months; three and one-half years), dressed in [c]sackcloth.” 4 These [witnesses] are the two olive trees and the two lampstands which stand before the Lord of the earth. 5 And if anyone wants to harm them, fire comes out of their mouth and devours their enemies; so if anyone wants to harm them, he must be killed in this way. 6 These [two witnesses] have the power [from God] to shut up the sky, so that no rain will fall during the days of their prophesying [regarding judgment and salvation]; and they have power over the waters (seas, rivers) to turn them into blood, and to strike the earth with every [kind of] plague, as often as they wish.

7 When they have finished their testimony and given their evidence, the beast that comes up out of the abyss (bottomless pit) will wage war with them, and overcome them and kill them. 8 And their dead bodies will lie exposed in the open street of the great city (Jerusalem), which in a spiritual sense is called [by the symbolic and allegorical names of] Sodom and Egypt, where also their Lord was crucified.

Shallow M6.0 earthquake hits Tonga region

A strong and shallow earthquake registered by the USGS as M6.3 hit Ecuador at 02:11 UTC on July 11, 2016. The agency is reporting a depth of 19.2 km (11.9 miles). The quake was preceded, 10 minutes earlier, by a M5.8 earthquake at a depth of 17.4 km (10.8 miles). Both quakes seem to be aftershocks of the powerful April 16th M7.8 earthquake.

Strong and shallow M6.3 earthquake hits Ecuador, school activities suspended.

According to the USGS, the epicenters were located about 32 km (19.9 mi) NW of Rosa Zarate, 41 km (25.5 mi) E of Muisne, 42 km (26.1 mi) S of Propecia, 105 km (65.2 mi) NNW of Santo Domingo de los Colorados, and 153 km (95.1 mi) NW of Quito, Ecuador.

There are 600 376 people living within 100 km (62 miles).

EXCLUSIVE: Congressman Says Fed Lab Closure For Data Manipulation Is ‘A Little Bit Suspicious’

Mis-conduct by two U.S. Geological Survey (USGS) officials led to the “suspicious” shutdown of a federal scientific lab in Lakewood, Colorado, without informing Congress, a skeptical lawmaker and career engineer told The Daily Caller News Foundation.

“The way they closed the facility without notifying Congress of it until after the fact, that seems a little suspicious,” said Rep. Bruce Westerman, an Arkansas Republican and member of the House Natural Resources Committee, in an interview Monday.

“If it was just some tweaking of the equipment, then something’s wrong. They didn’t close the facility over a piece of equipment being mis-calibrated,” Westerman told TheDCNF. To date, no federal official has publicly explained why the two analysts manipulated the data over such a long period of time.

The unusual closure occurred eight years after a USGS analyst resigned in 2008 while under investigation for manipulating energy-related data from 1996 to 2008. He had worked in the inorganic section of the Energy Geochemistry Laboratory. Despite the resignation, however, a second analyst almost immediately continued distorting research data until 2014.

USGS consequently closed the lab in March 2016, but Westerman thinks it is odd that an entire lab was shuttered without first telling Congress. (RELATED: Federal Lab Forced To Close After ‘Disturbing’ Data Manipulation)

The analysts consistently calibrated equipment beyond what’s typically allowed within the scientific community, which affected test outcomes, often altering data by as much as 20 percent, USGS spokeswoman Anne-Berry Wade previously told TheDCNF.

The manipulated data was “basic scientific research,” said Westerman, who was a professional engineer for 24 years before entering politics, with degrees in agricultural and biological engineering. “You’re talking about the building blocks of research.”

Because the data is so important, Westerman worries that “this stuff has a domino effect. If that data is flawed coming out of that research lab, then all that research downstream is flawed. I would hate to think that any kind of project or any big policy decisions were made by some flawed data.”

Westerman also wonders what happened to the backup data for the research done by the two former USGS employees and he’s not happy with what he’s been told to date by Department of Interior officials.

“Why were all of the notes and calculations and backup data either never produced or destroyed? Why did it go on for so long? Why can’t they just give us a straight answer,” Westerman asked. “It sure smells fishy. There’s just too many things that raise a red flag and I just don’t have a good feeling about it.”

USGS officials knew about the first analyst’s misconduct years before it was stopped but they were oblivious to the second analyst’s actions, even though data issues were widely known outside the lab, TheDCNF previously reported. The agency also procrastinated in notifying scientists who may have depended upon the flawed data.

USGS is unaware of any affected policy decisions, Wade previously told TheDCNF, but the Department of the Interior Inspector General disagreed, saying in a June 2016 report that “the full extent of the impacts are not yet known but … they will be serious and far ranging.”

USGS also continues investigating the effects of the data manipulations, but refuses to reveal what punishments the second analyst or any supervisors faced. No recommendations for prosecution were referred to the Department of Justice because the IG only conducted an inspection, which bears significantly less consequences than a full investigation or audit.

“Maybe they need to take an investigative approach,” Westerman told TheDCNF. “We need to raise the rug up and see what’s under it.”

Additionally, the watchdog knew about the second analyst’s manipulation more than a year before its inspection was published.

The IG was told that a USGS employee had boasted, saying “tell me what you want and I will get it for you. What we do is like magic,” although the exact context of that quote is unclear.

“That’s highly suspect when people talk like that,” Westerman said. “That’s not what you’d expect from a federal research lab.”

The IG, however, has said no further investigations are planned.

Arctic Alaska records highest temperature ever

The maximum daily temperature in Deadhorse, Far North Alaska reached 29.4 °C (85 °F) on Wednesday, July 13, 2016. This is the highest temperature ever known to be recorded in that area, NWS Fairbanks said. Although high temperatures were recorded across a wide region of Alaska, a sharp temperature drop is now underway.

On Wednesday, July 13, Deadhorse saw state’s highest temperature ever measured within 80 km (50 miles) of the Arctic. Fairbanks recorded 31.1 °C (88 °F) on the same day, the highest since 2009. Bettles and Eagle also saw 29.4 °C (the same as the New York City) while Fort Yukon reached 28.9 °C (84 °F).

On Thursday, July 14, Fairbanks hit 31.1 °C for the second day in a row while Fort Wainwright measured 31.7 °C (89 °F).

The high temperatures were caused by a very strong upper level ridge parked over northern Alaska. “It’s not that unusual, but this could be our warmest weather of the summer,” said NWS meteorologist Rick Thoman.

“It could get warmer later in the month, but after early August that is unlikely.”

So far in 2016, the state’s average temperature is -0.88 °C (30.4 °F), some 5 °C (9 °F) higher than normal, Dole Rice of the USA Today writes. The all-time record high temperature in Alaska is 37.8 °C (100 °F), set on June 27, 1915, in Fort Yukon.

A sharp temperature drop is expected by the weekend and during the next week as Arctic front sweeps over the region. Temperatures could drop as much as 11.1 °C (20 °F) below normal, the weather service said.

Rare July snowfall closes several mountain passes, Switzerland

SwissInfo is reporting an unexpected July snowfall has closed several mountain passes on Thursday, July 14, 2016.

According to the paper, the Säntis mountain in north-eastern Switzerland saw up to 13 cm (5.1 inches) of snow.

“It is very unusual to see snow below 2 000 m (6 500 feet) at this time of the year, but it was falling as low as 1 600 m (5 200 feet) in some parts of Switzerland,” the article said.

As a result, the Susten, Furka and Nufenen passes were closed. Video below shows snowfall in the canton Graubünden holiday resort of Arosa on July 13:

TRIBULATION DETONATION HOUR IS NEAR

Sudden Destruction Prophesied
We have been clearly warned of sudden destruction falling upon us. The prophets have all warned of a consuming fire of judgment upon a last-day people who boasted she sat as a queen in prosperity and was beyond the possibility of destruction. Isaiah warned, “For he bringeth down them that dwell on high; the lofty city, he layeth it low; he layeth it low, even to the ground; he bringeth it even to the dust” (Isaiah 26:5).

John saw in a vision the destruction of one-third of the earth’s population by fire and brimstone. The enemy would have an exceeding great army and armaments which would spew “out of their mouths fire, smoke and brimstone 8Revelation 9:16-17)-which I take to mean nuclear missiles.

As a result of this fiery “issue,” one third of mankind is destroyed. “By these three was the third part of men killed, by the fire, and by the smoke, and by the brimstone, which issued out of their mouths” (Revelation 9:17).

In one hour it will all be gone! The stock market will burn-with all the buildings, the investments. The skyscrapers will melt; the fire of divine vengeance will turn cities into polluted wildernesses. Our government, our transportation system, our food supplies, our communications network (radio, television)-all will be lost in one hour! Read it-it’s all there! “And it shall be, as with the people, so with the priest; as with the servant, so with his master; as with the maid, so with her mistress; as with the buyer, so with the seller;as with the lender, so with the borrower; as with the taker of usury, so with the giver of usury to him. The land shall be utterly emptied, and utterly spoiled: for the Lord hath spoken this word. The city of confusion is broken down: every house is shut up, that no man may come in. When thus it shall be in the midst of the land among the people, there shall be as a shaking of an olive tree, and as the gleaning grapes when the vintage is done (Isaiah 24:2,3,10,13). Isaiah is clearly speaking about these latter days.

What a horrific description of a hydrogen holocaust Isaiah gives. “The foundations of the earth do shake. The earth is utterly broken down, the earth is clean dissolved, the earth is moved exceedingly. The earth shall reel to and fro like a drunkard, and shall be removed like a cottage; and the transgression thereof shall be heavy upon it; and it shall fall, and not rise again. Then the moon shall be confounded, and the sun ashamed …” (Isaiah 24:18-20, 23).

God will “melt” America, just as He promised to do to Israel. “As they gather silver, and brass, and iron, and lead, and tin, into the midst of the furnace, to blow the fire upon it, to melt it; so will I gather you in mine anger and in my fury, and I will leave you there, and melt you. Yea, I will gather you, and blow upon you in the fire of my wrath, and ye shall be melted in the midst of the furnace, so shall ye be melted in the midst thereof; and ye shall know that I the Lord have poured out my fury upon you” (Ezekiel 22:20-22).

America’s cup of iniquity is full; the bear has prepared and is set to act-it is now only a matter of time. From over the North Pole the deadly missiles will come. Fear and some kind of supernatural impulse will cause the enemy to make the first strike. “For the spoilers shall come unto her from the north, saith the Lord” (Jeremiah 51:48). They themselves will be terrorized by the destruction and havoc they unleashed upon the earth. “The Lord of hosts hath purposed it, to stain the pride of all glory, and to bring into contempt all the honorable of the earth. He stretched out his hand over the sea, he shook the kingdoms: the Lord hath given a commandment against the merchant city, to destroy the strong hold thereof (Isaiah 23:9,11).

Soon, very soon, an economic nightmare will explode into reality. What frightful news it will be! “O thou that dwellest upon many waters, abundant in treasures, thine end is come, and the measure of thy covetousness” (Jeremiah 51:13). America is about to face a time of mass hysteria, as banks close and financial institutions crumble and our economy spins totally out of control. Gold and silver will also lose their value. “They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in a day of the wrath of the Lord: they shall not satisfy their souls, neither fill their bowels: because it is the stumbling block of their iniquity” (Ezekiel 7:19). The chaos that is coming cannot be stopped by our government. Ezekiel warned “The hands of the people of the land shall be troubled: I will do unto them after their way, and according to their deserts will I judge them” (Ezekiel 7:27). These prophecies once again reveal God’s judgmental decrees to wicked nations.

This destruction comes suddenly and without warning.

America is going to be destroyed by fire! Sudden destruction is coming and few will escape. Unexpectedly, and in one hour, a hydrogen holocaust will engulf America and this nation will be no more

Antichrist Communist China Has No Legal Claim to Most of South China Sea, UN Tribunal Finds

When we first heard this past Thursday that private blogger and Citadel employee Ben Bernanke was going to “secretly” meet with both the BOJ’s Haruhiko Kuroda and Japan PM Abe, we warned readers that “something big was coming.”

As noted late last week, “Bernanke will be in Japan next week. It has been arranged for him to meet officials including Abe and Bank of Japan Governor Haruhiko Kuroda, according to a government official speaking on condition of anonymity. Bernanke is expected to discuss Brexit and the BOJ’s negative interest rate policy with Abe and Kuroda, the official said.” Reuters also added that “some market players speculate Kuroda might decide, in a surprise, to provide “helicopter money.”

We concluded as follows:

So is it time? Is Bernanke about to unleash the next, and final, monetary policy evolutionary step, one which launches “helicopter money” in Japan, and if successful, brings it across the Pacific to the US?

We don’t know, but if anyone is still holding on to USDJPY shorts, now may be a good time to quietly close them out, because if Reuters is right, and a “helicopter money” is about to be served for the first time in modern history, things are about to get very volatile, very fast.
Two trading days later, Japan’s stocks have soared by 4% – the biggest one day gains since February – and the USDJPY is more than 200 pips higher…

“Something Big” Indeed Came – Bernanke’s Japan Visit Unveils “Helicopter Money”, Sparks Monster Rally

.. after something big indeed came overnight from Japan: nothing less than the first “lite” instance of helicopter money .

First, this is what Reuters reported overnight:

Ben Bernanke, a former Federal Reserve chairman, visited the Bank of Japan on Monday, according to a Reuters witness. Government sources told Reuters on Friday that Bernanke, who steered the United States through its worst financial crisis in modern times, would meet with Bank of Japan Governor Haruhiko Kuroda and Prime Minister Shinzo Abe this week. Reuters was not immediately able to confirm whether Bernanke met with Kuroda. Last week government sources said Bernanke was expected to discuss Britain’s vote to leave the European Union and the BOJ’s negative interest rate policy.
It would appear that something else discussed was the first iteration of helicopter money, because the catalyst that sent both the Nikkei soaring and the Yen tumbling, was not so much Kuroda’s whirlwind victory in Japan’s latest election – largely as expected – but Abe’s announcement that he may proceed with launching a JPY10 trillion stimulus, funded by Japan’s first new major debt issuance in four years. From Bloomberg:

The Topix jumped 3.8 percent to 1,255.79, its largest advance since Feb. 15, as Abe said he will order the preparation of an economic stimulus package tomorrow. A person familiar with the matter said Bank of Japan Governor Haruhiko Kuroda met with former Federal Reserve Chairman Ben S. Bernanke over lunch in Tokyo on Monday, also boosting speculation for easing. Japan stocks further benefited as better-than-expected U.S. payrolls helped spur a global equities rally.

“With hopes that stimulus will come earlier than expected, investors are seeing it as an opportunity to buy,” said Hiroaki Hiwada, a Tokyo-based strategist at Toyo Securities Co. The report on Bernanke’s visit “makes it natural for speculation to emerge on additional easing.”

Abe will hold a cabinet meeting on economic measures on Tuesday and consider more than 10 trillion yen ($98 billion) in stimulus, the Nikkei newspaper reported. Following the meeting with Kuroda on Monday, Bernanke will meet with Abe tomorrow, Reuters reported.

“It’s positive for stocks that the ruling party has won so many seats,” said Shoji Hirakawa, chief global strategist at Tokai Tokyo Research Center. “History shows that when the ruling party wins the upper house, Japanese stocks are stronger afterwards.”
Bloomberg adds the following, when reporting on Shinzo Abe overnight speech in Tokyo, a day after winning an increased majority in upper house elections.

Want to make most of zero interest rate environment to utilize fiscal investments
Economy stimulus to establish 21st century infrastructure; speed up construction of high-speed train lines
Will consider size of economic measures from now
Measures to support domestic demand
However, it is not just as $100 billion fiscal expansion coming out of Japan: it comes in conjunction with an imminent expansion of even more BOJ monetary stimulus: “The Bank of Japan is set to announce an expansion of its monthly bond and equity purchases on July 29 and Abe will probably introduce fiscal stimulus by year-end, according to Macquarie Bank Ltd.”

So is this the start of “helicopter money”? It would appear so.

Here is the broadest definition of the term from Jefferies: “The important distinction of helicopter money compared to QE or conventional deficit financing is that it is a combination of extreme monetary easing and fiscal relaxation.”

More from a just released note by Jefferies’ Sean Derby titled “Japan: An Equity Investor’s Guide To Helicopter Money” (we will say more on this later):

We believe Japan is closer to introducing helicopter money than consensus believes as the tapering of its JGB purchase program forces the BoJ to seek other routes to stimulate growth. Although the BoJ could accelerate buying of asset classes, there are worries over diminishing returns. Moreover, negative interest rates on deposits is deeply unpopular amongst the banks and seems to have been ill thought out.


‘Let us suppose now that one day a helicopter flies over this community and drops an additional $1,000 in bills from the sky, which is, of course, hastily collected by members of the community. Let us suppose further that everyone is convinced that this is a unique event which will never be repeated’, Milton Friedman, The Optimum Quantity of Money

‘People know that inflation erodes the real value of the government’s debt and, therefore, that it is in the interest of the government to create some inflation’, Ben Bernanke

‘In this sense, we continue to believe that the BoJ’s sudden policy U-turn on negative deposit rates in January was driven by the need to collapse the yield curve into negative territory as far as possible. The authorities are attempting to push bond yields down below existing nominal GDP, so that the existing debt can be converted or ‘consolidated’ into a perpetual zero coupon bond presumably before any ‘tapering announcement’’, Japan: It’s Time To Launch A Zero Coupon Perpetual JGB! (II), 6th April, 2016

‘With real rates negative, the government can finance its outstanding debt without penalty. It could then write off some of the debt held by the BoJ by announcing that the excess reserves used to purchase the bonds would remain on the BoJ’s balance sheet forever while the reserves would pay no interest. Effectively, the liability (NPV) would be worth zero. This would give the government a clean slate to increase spending or cut taxes’, Japan: Moving the Goalposts (IV)

At the end of the day, most central bank mandates is devoted to price stability. Deflation in the extreme cases epitomizes falling prices, declining wages and a lack of demand. In order to overcome this ‘nightmare’ scenario, an expansionist policy would need to combine both fiscal and monetary policy. The important distinction of helicopter money compared to QE or conventional deficit financing is that it is a combination of extreme monetary easing and fiscal relaxation.

Which, incidentally, is precisely what Japan is now planning to do, and in doing so, it has given the world a glimpse of not only how “helicopter money” will look, but also the market’s enthusiastic response, which needless to say is music to the ears of central bankers everywhere.

So well done, Blackhawk Ben: while you never managed to unleash helicopter money in the US, you finally succeeded in bringing it to Japan which will now be a trial balloon for the rest of the world: if it works, expect many more instances of “extreme monetary easing coupled with fiscal relaxation” around the globe, just as Russell Napier previewed yesterday.

“It’s Prohibited By Law” – A Problem Emerges For Japan’s “Helicopter Money” Plans

Over the past four days, risk assets have been on a tear, led by the collapsing Yen and soaring Nikkei, as the market has digested daily news that – as we predicted last week – Bernanke has been urging Japan to become the first developed country to unleash the monetary helicopter, in which the central banks directly funds government fiscal spending, most recently with an overnight report that Bernanke has pushed Abe and Kuroda to sell perpetual bonds, all of which would be bought by the BOJ.

There may be a very big problem with what the market is pricing in, however. As Reuters reports, citing government and central bank officials directly involved in policymaking, “there is no chance Japan will resort to helicopter money.” The problem: it is prohibited by law to directly underwrite government debt, which means parliament needs to revise the law for the central bank to start directly bank-rolling debt.

“Adopting helicopter money in the strict sense is impossible as it’s prohibited by law,” said one of the officials. “If it’s about the BOJ buying huge amounts of bonds and the government deploying fiscal stimulus, we’re already doing that.”

With the BOJ already keeping borrowing costs near zero with aggressive money printing, as the central bank already gobbles up more government bonds than is sold to the market each month under its massive monetary stimulus program, there is no strong push from premier Shinzo Abe’s administration to revise the law and force the central bank to resort to helicopter money, said the officials, who declined to be named due to the sensitivity of the matter.

While hardly a hurdle to Bernanke, the reality is that for Japan to adopt helicopter money, Abe would need to change the fundamental laws of central bank independence, and many are already rising up against this prospect. “It’s an illusion to think that a country can spend as much money as it wants, without having to pay it back,” said another official on condition of anonymity.

“I haven’t heard of any such discussions taking place in the Ministry of Finance,” a third source said, adding that adopting helicopter money was “unthinkable.”

One can probably discount what BOJ Governor Haruhiko Kuroda said when he dismissed the idea of helicopter money, stressing the central bank is buying bonds not to finance debt but to hit its 2 percent inflation target: recall that Kuroda said just one week before Japan unveiled NIRP that no NIRP would come to Japan, which certainly dilutes any credibility he may have.

However, the dissent to Bernanke’s plan has spread far and wide, spreading as far as Abe’s cabinet.

Masahiko Shibayama, an influential aide to Abe, voiced caution over helicopter money involving the issuance of perpetual bonds.

Koichi Hamada, another key economic adviser to Abe, told Reuters on Thursday Japan should not resort to helicopter money as it could lose control of inflation. “Resorting to such a step would be sending a grave message to the international community” on Japan’s fiscal management, he told Reuters on Thursday. “We need to think carefully about how markets will react if we even signal it as an option.”

Worse, quoted by the WSJ, Hamada hinted at what we have said all along: helicopter money would be the precursor to hyperinflation.

Japan shouldn’t make its central bank directly underwrite government borrowing, or it could suffer the kind of runaway spending and inflation that followed a similar move in the 1930s, said Hamada.

“It would be too tempting for politicians. They wouldn’t give it up once you made it possible for them to print and spend as much money as they please, either for political purposes or for their own ambitions,” said Koichi Hamada in an interview with The Wall Street Journal recently.

The stern warning from the Yale University professor comes as economists increasingly speculate that Mr. Abe may resort to the radical step to save his campaign to escape deflation, a negative cycle of price falls. Mr. Abe’s recent pledge to bolster spending and his meeting earlier this week with former Federal Reserve Chairman Ben Bernanke, an advocate of monetization, has fueled such speculation.
Which is not to say that helicopter money is impossible. Supporters of the measure, known as “helicopter money,” view it as the quickest, surest way to stimulate demand and create the 2% inflation wanted by Mr. Abe. But the problem is that politicians may not have the self-discipline to withdraw the policy before it destabilizes the economy, Mr. Hamada said, playing down a recent local newspaper report that portrayed him as supportive of helicopter money.

“There is a huge risk that fiscal expansion would get out of control” if the Bank of Japan started underwriting government borrowing, Mr. Hamada said.

The adviser called attention to the consequences of debt monetization in the 1930s by finance minister Korekiyo Takahashi. Mr. Takahashi’s powerful stimulus helped the nation escape the Great Depression, but Mr. Hamada said it opened the door to aggressive military spending that later caused sky high inflation.

Mr. Takahashi was assassinated by rebel officers in 1936.

Other aides to Mr. Abe, including Japan’s ambassador to Switzerland Etsuro Honda, see Mr. Takahashi as a national hero and put the blame for spiraling spending and inflation squarely on the military and capacity shortages in a war-torn economy.

For now, the reality is that with a political gate to helicopter money, the best Japan can hope for is to jawbone the Yen and markets higher; however for Abe to actually change the law a far more drastic deterioration in Japan’s inflationary picture will have to emerge.

Renewed debate over helicopter money underlines the continued radicalization of discussions over how to remedy Japan’s lost two decades. It also reflects frustrations over the limited effects so far of Abenomics.

Hamada agreed that expanding fiscal and monetary policies at the same time is likely to produce stronger stimulus effects than implementing them in isolation. But Mr. Hamada said that if the BOJ continues to buy debt from the markets, not directly from the government, the policy coordination wouldn’t amount to monetization by strict definition.

Speaking of the BOJ’s coming policy decision on July 29, Mr. Hamada said he “can’t say with absolute certainty for now” whether the central bank should undertake additional easing. “It depends on how much stock prices will have recovered and how much the yen’s upward momentum will have weakened by then,” he said.

However, that goes back to problem #1 for Japan: it has insufficient bonds to monetize, forcing the BOJ to increasingly soak up ETFs and other non-debt instruments. As such, continuing with merely more QE will lead to even lower record JGB rates, sending even more acut deflationary signals to the local and global economy, and forcing Japanese investors to buy even more record amounts of offshore debt.

Mr. Hamada said policy decisions are up to Mr. Kuroda to make, but added that Japan’s tightening labor market means that officials don’t need to debate the need for action at every meeting. He also urged Japanese companies to stop expecting too much from the BOJ and instead to put their savings to better use, by investing more or offering sharper pay raises.

“I am wondering if those corporate managers…understand that they are a drag on the Japanese economy,” Mr. Hamada said.

They do, however with the help of such “experts” as Kuroda and Bernanke, they have every reason to believe that the punch bowl will not only not be taken away but will be spiked even more. This time, however, that may not happen.

20 dead, dozens injured as trains collide head-on near Bari, Italy (VIDEO, PHOTOS)

Piling on to Italy’s growing mountain of worries, this evening the IMF itself warned that Europe’s third largest economy would grow by less than 1% this year and only marginally faster in 2017, slashing its previous forecasts of 1.1% and 1.25% growth for the next two years, mostly as a result of the most convenient scapegoat available in Europe at the moment: Brexit (which has become to Europe as “cold weather” has been to the US for the past two years).

Christine Lagarde’s organization said Italy was “recovering gradually from a deep and protracted recession”, but said the healing process was likely to be “prolonged and subject to risks”. It used its article IV consultation – an annual economic and financial health check – to stress that Italy was vulnerable to a cocktail of threats that could have knock-on effects for the rest of Europe and the world.

The IMF dour outlook may be overly generous. While economists have been racing to downgrade Italy’s outlook since the British referendum, Italy’s own employers’ lobby Confindustria now sees growth of just 0.8% this year dropping further to 0.6% in 2017. Italy, long one of Europe’s most sluggish economies, will struggle to close the gap with its peers even if recent reforms are fully implemented, the IMF report said.

The punchline: only by around 2025 will Italian output return to its 2008 peak before the global financial crisis, according to the IMF. In the same period, growth among Italy’s euro zone partners is expected to rise by 20–25% above their pre-crisis levels. In other words, Italy is now in the middle of what will end up being a two-decade recession.

“The authorities thus face a monumental challenge. The recovery needs to be strengthened to reduce high unemployment faster and buffers need to be built, including by repairing strained bank balance sheets and decisively lowering the very high public debt,” the report said.

“Downside risks arise from delays in addressing bank asset quality, intensified global financial market volatility – including from Brexit, the global trade slowdown weighing on exports, and the refugee influx and security threats that could further complicate policymaking,” said the IMF. “If downside risks were to materialise, regional and global spillovers could be significant, given Italy’s systemic weight.”

And speaking of Italy’s weakest links, the banks, the IMF said that “risks are tilted to the downside,” listing a raft of issues including the poor asset quality of Italy’s banks, financial market volatility and the impact of a global trade slowdown on exports.

“If downside risks were to materialize, regional and global spillovers could be significant given Italy’s systemic weight,” it said.

In an assessment that will hardly help Italian bank stocks, the IMF said that the country’s banks, which are saddled with some 360 billion euros of bad loans and whose share prices have fallen by more than 50 percent this year, are a particular threat to the economic outlook, the IMF said. “Unless asset quality and profitability problems are addressed in a timely manner, lingering problems of weaker banks can eventually weigh on the rest of the system,” it warned.

Finally, in keeping with the tradition of having political involvement, Lagarde sided with the side of Renzi and against Merkel and Dijsselbloem, both of whom have denied Italy’s repeated pleas for a bailout, saying that If EU-wide stress tests show that financial stability is at risk, there is scope for Italy to use public money to recapitalize its banks, the head of the IMF’s mission to Italy, Rishi Goyal, said in a conference call.

To what extent this could be done without triggering losses to investors under newly adopted “bail-in” rules would depend on negotiations between Italy and the EU, Goyal said.

It was also unclear just who would determine what conditions would define a financial system under stress.

Italy’s public debt, the highest in the euro zone after Greece’s, will not fall this year as targeted by the government of Prime Minister Matteo Renzi, the IMF said. In a forecast made before the UK referendum, the IMF said Italy’s debt would edge up to a new all-time peak of 132.9 percent of gross domestic product from 132.7 percent last year.

IMF Warns Of “Global Contagion” From Italy’s Bank Crisis; Forecasts Two-Decade Long Recession.

still, all of this may be moot if various unconfirmed rumors of Italian cashless ATMs end up being true. What is most troubling, however, if past is prologue is the desperate plea by Italy’s finance minister, Pier Carlo Padoan, to restore some confidence in Italy’s banks, to wit:

PADOAN SAYS THERE’S NO LOOMING BANKING CRISIS IN ITALY
Traditionally, it is such “political” (and futile) statements such as that one – especially when everyone knows they are false – which do precisely the opposite of their intended goal, and emerge just days before the worst case scenario becomes a reality.

Today I was interviewed by a Danish journalist about the Italian banking crisis (read the interview here). He asked me a very good question that I think is highly relevant for understanding not only the Italian banking crisis, but the Great Recession in general.

The question was: “Lars, why is there an Italian banking crisis – after all they did NOT have a property market bubble?”

That – my regular readers will realise – made me very happy because I could answer that the crisis had little to do with what happened before 2008 and rather was about monetary policy failure and in the case of the euro zone also why it is not an optimal currency area.

Said, in another way I repeated my view that the Italian banking crisis essentially is a consequence of too weak nominal GDP growth in Italy. As a consequence of Italy’s structural problems the country should have a significantly weaker “lira”, but given the fact that Italy is in the euro area the country instead gets far too tight monetary conditions and consequently since 2008 nominal GDP has fallen massively below the pre-crisis trend.

That is the cause of the sharp rise in non-performing loans and bad debt since 2008. The graph below clearly illustrates that.

I think it is pretty clear that had nominal GDP growth not fallen this sharply since 2008 then we wouldn’t be talking about an Italian banking crisis today. There was no Italian “bubble” prior to 2008 and there are no signs that Italian banks have been particularly irresponsible, but even the most conservative banks will get into trouble when nominal GDP drops 25% below the pre-crisis trend.

Therefore, I also don’t think that the “solution” to the crisis is a re-capitalisation of the Italian banks or of the entire European banking sector. Rather the solution is to ensure nominal stability in the euro zone. The best way of doing that would be for the ECB to aggressive increase the money base to ensure 4% NGDP growth in the euro zone (see my recent post on what the ECB in the present situation here and my post from 2012 on a cheap firewall against an escalation of the crisis here.)

A key problem, however, is that the euro zone is not an optimal currency area. In a good recent blog post my friend Marus Nunes rightly argued that there is a “Northern” part of the euro zone where monetary policy broadly speaking is “right” and a “Southern” part, where monetary policy is far too tight. Italy is part of this latter group.

This means that the question is whether keeping euro zone nominal demand “on track” is enough to ensure enough NGDP growth in the Southern countries to avoid banking and sovereign debt crisis coming back again and again. Unfortunately the development over the past eight years gives little reason for optimism.

P.S. There are now also increasing talk about problems in the German banking sector. Given the fact that the German economy has doing quite well compared to most other economies in Europe this is rather incredible. Therefore if we should talk about imprudent banking (due to moral hazard problems) then we might want to point the fingers at the German banks.

Germany Sells First Ever Negative-Yielding 10Y Treasury, Corporate Bonds.

Overnight, we previewed what was about to be a historic for the eurozone bond auction, when this morning Germany sold its first ever 10Y bonds with a zero coupon. As it turned out the issue was historic in another way as well: with the prevailing 10Y bond trading well in negative yield territory, it was largely expected that today’s bond auction would likewise issue at a negative yield, and that’s precisely what happened, when as the WSJ reports, Germany sold 10-year debt at a negative yield on Wednesday, “becoming the first eurozone nation to do so and setting a further milestone in the relentless fall of government bond yields around the world.”

To be fair, this was far less exciting than the media makes it out to be as primary issuance always tracks the secondary market and in the case of Bunds, these have been “sub-zero” for several weeks now. Still, it was an accomplishment for Germany to issue debt which not only does not pay a cash coupon, but which will end up reducing Germany’s total debt by the time it matures.

While today’s 10Y auction was historic, Eurozone countries, including Germany, have sold shorter-dated bonds at a negative yield before, and Switzerland and Japan have issued 10-year bonds at yields below zero. But the 10-year bund is considered the benchmark issue in Europe, a region of sheer monetary insanity.

Deutsche Bahn began marketing an expected €250m five-year deal at mid-swaps plus 20bp area, before setting guidance for an increased 350m deal at mid-swaps plus 16bp area with a plus and minus 1bp range. Joint leads BayernLB and Raiffeisen Bank set the final spread at plus 15bp as orders reached 840m. The deal priced with a negative 0.006% yield and a 0% coupon.

The issuer was last in the market on June 30 to print a 750m 15-year deal at 26bp over mid-swaps. The deal is now bid at plus 14bp, according to Tradeweb.

As with anything debt related these days, there was humor: “I’m not sure why they’re issuing so soon, probably because they can and there is demand,” one investor who placed an order for the deal said. “Compared to its last deal today’s price at plus 15bp still looks cheap on the curve and offers some value.”

Yes, a financial professional just said a -0.006% YTM “offers value.”

There is some speculation whether Deutsche Bahn is, in fact, a corporate: after all the company is 100% state-owned, leading some to question whether it counts as being the first ‘corporate’ issuer to sell negative-yielding debt. But, as Reuters reports, Deutsche Bahn’s debt has regularly been sold to investment-grade corporate investors, with its deals managed by the corporate banking syndicate teams. So the investment-grade corp glove fits…

While other international companies such as Sanofi, Engie and Unilever – have already sold 0% coupon bond issues with barely positive yields – the German railway operator is the first one to actually do so with a negative yield at auction.

As debt yields continue to slide ever lower and as to the monetary singularity and as fundamentals become meaningless in the global scramble for any yields, expect more companies to follow. The ECB’s aggressive approach to its corporate sector purchase program is expected to spark more sub-zero yielding debt as spreads continue to grind tighter.

Perhaps somewhat surprisingly, while the ECB said most recently that it had bought €1.676bn under the CSPP in the week to July 8, bringing purchases to €8.474bn, the heavy ECB buying has done little to spur new issuance, with just 13bn of investment-grade corporate debt printing since the ECB began buying corporate bonds – only 3bn more than in the same period of 2015, according to IFR data.

“We’re banging on the door of some issuers to encourage them to sell bond deals while the market remains stable, but not all are listening,” one banker away from Deutsche Bahn’s deal said.

“But as we’ve seen, investors are desperate to buy and the market is stable for now so it makes perfect sense to take advantage it all.”

For those confused, this means that not even with the ECB handing out European companies more than free money, they still refuse to borrow and use the proceeds for the same reason their US peers have over the past 5 years: to buy back their own stock and boost their management bonuses in the process.

Said even simpler: the ECB is giving management a raise, and management is saying no.

While we can overlook everything else, that fact that this is happening is perhaps the most troubling sign that something is truly broken in Europe…

Ann Barnhardt – The Economy Is Going To Implode Full Version

Earthquake, Twisters, Space Weather | S0 News Jul.14.2016

.

Stocks shrugged off Carney’s disappointment and focused on what Bernanke, Mester, Kuroda, and Abe had to say…

Stocks Soar Most Since 2011 Fed Rescue As Bernanke’s Masterplan Is Unveiled

The S&P 500 is as overbought as at any local high in the last year…

Notably the last two days have seen the same opening squeeze of shorts as before but unlike before, “Most Shorted” stocks have faded weaker for the rest of the day…

Small Caps underperformed…

And Small Caps are lagging post-Brexit while Trannies are soaring…

The last 12 days 8-plus percent surge in the S&P is the greatest since Oct 2011 – the last time Bernanke saved the world with FX Swap Lines…

This time he was at it again with a new masterplan…

Bernanke, who met Japanese leaders in Tokyo this week, had floated the idea of perpetual bonds during earlier discussions in Washington with one of Prime Minister Shinzo Abe’s key advisers. Abe advisor Etsuro Honda said that during an hour-long discussion with Bernanke in April the former Federal Reserve chief warned there was a risk Japan at any time could return to deflation. He noted that helicopter money could work as the strongest tool to overcome deflation, according to Honda. Bernanke noted it was an option. The implication, as we said last week when we previewed just this “big thing” is that Japan is indeed set to be the first testing ground of helicopter money in the modern financial system.
JPMorgan sparked some exuberance in financials… which finally snapped the sector green post-Brexit… this is the 7th straight Up-Day for financials – longest streak in 15 months…

But the decoupling is becoming farcical again…

VIX briefly flash-crashed this morning as Carney disappointed – dropping to 12.14 – the lowest since 8/5/15!! (VIX is down 11 of the last 13 days)

High yields bonds recovered all of the Icahn “Danger Ahead” losses (but not seem to have found resistance at this key level…

As HY Energy credit has decoupled notably from Oil prices…

But then again so have Energy stocks…

Treasury yields rose notably across the entire complex with the long-end underperforming…

With desk chatter of considerable 30Y selling which sparked the biggest 2s30s steepening since Dec 2nd 2015…

The USD Index limped lower today as GBP strength (Carney didn’t cut) and JPY weakness (more buffoonery) offset each other…

Notably this is the 11th day of Up-Down-Up trading in WTI Crude as oil has remained trapped for 6 days between its 100- and 200-day moving average…this also happened last July!!

The S&P 500 is now 200 points ‘rich’ to the Fed Balance Sheet – its richest ever…

And finally there’s this… the sixth quarterly decline in earnings as we soar to record high stock prices…

 

To sum up, growth is great but…business inventories are spiking, freight shipments are at six-year lows and the most recent regional manufacturing report is as close to no-growth as is possible without actually not growing. Which set of figures should we trust? Time will tell, but human nature being what it is, our money is on the bad ones.

Great Numbers! Curious Timing?

Pretend you’re running a corrupt government and something big and scary happens in another part of the world. Brexit, for instance. You’re quite naturally worried about the impact on your local economy and political system. What do you do?

Well, one obvious thing would be to call the statisticians who compile your economic reports and tell them to fudge the next batch of numbers.

Truck plows into crowd in Nice

Reports are coming in of an attack on July 14 celebrators in Nice, France. Gunfire and a car driving into a crowd at the Promenade des Anglais have been reported. CNN is reporting “dozens dead.” Is the Islamic State behind the attack? Right now it’s unclear. However, Terrorism Research & Analysis Consortium reports that Antichrist ISIS terrorist accounts are posting about it.

Is Antichrist ISIS Behind Bastille Day Terrorist Attack in Nice, France?

Video footage shows people fleeing the scene as witnesses described it as ‘chaos’

Bastille Day terror in Nice as ‘at least 30 dead’ and bodies strewn across street after truck ploughs into crowd

Live ’30 dead’ after truck crashes into crowd at Bastille Day celebrations in Nice ‘terror attack’

In other words, the US government knew about this terrorist front all the way back in 2001, even as Hillary’s right hand (wo)man was working for an affiliated entity for years later?

We hope to find out more after reading the full document shortly, although sadly we are convinced the important sections will be fully redacted

US Government Releases Redacted “28 Pages” Missing From 9/11 Report

US Using Events To Bring Forces Together For The Next Push In The Middle East – Episode 1023b

Space Weather, Bio-Effects, Huge Hail | S0 News Jul.15.2016

Russia’s new stealth bomber will reportedly be capable of launching nukes from space

Click here to see live solar update for current probable solar flare update

Reading for July 16, 2016 ~ Tammuz 3, 5776

Num 22:2-25:9 ~ Micah 5:6-6:8 ~ John 13-14

Saturday, July 16, 2016: Balak (Balak)

 

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