NOTE: Realize this, the idiot Jews are Antichrist. They are the elect chosen people that are currently under the spell of deception, confirmed by the fact that they reject the revelation of our Father in Christ. This has resulted as the root cause of the hatred for them and their reaction in defense of that Antichrist spirit. This is the reality of the general great deception of the ”elect” chosen people and the reality of the Antichrist spirit that has corrupted the nations and Israel. Put simply; …as a result of the great Antichrist deception, Israel and the nations are compelled to war against humanity. The Antichrist Israeli agenda is drawing the nations to come against Israel and Israel is attempting to establish the prophetic Antichrist image of Israel as the Antichrist New World Order image of the beast.
This should be obvious enough to all true Saints of our Father in Christ. Everything that is playing out now upon this prophetic last generation is the prophetic revelation being fulfilled as a result of the prophetic modern reality of the Antichrist spirit running it’s course to the ultimate end, which results in the great tribulation era now about to start the first 3 1/2 years before the last harvest has ended.
The first shall be the last and the last people to receive the revelation of our Father in Christ are the elect chosen people of Israel.
Do not be tempted to be so moved in agreement with the Antichrist spirit within Israel and among the deceived nations of the world. They are all deceived as a result of their rejection of The Truth, and The Whole Truth is the revelation of our Father in Christ. The reality of this prophetic fact is obvious enough if you are paying attention, which you are command to do in agreement with our Father in Christ.
Stand fast. Do no harm. In the name of our Father in Christ Yahshua, fear not.
Based on the trend, and current analysis, the start of the tribulation era is about to begin. Everything, from banking to the geopolitical reality and measure of the stars with the prophetic biblical appointed timing is confirming this fact.
This September is obviously a key point in time, beginning with a solar eclipse on the Feast of Trumpets.
Antichrist Israeli Spy Paul Wolfowitz and the lies that he told in the high government positions that he held are responsible for a massive number of deaths and massive destruction in seven countries. Wolfowitz has announced his vote for Hillary 911 Clinton. Does this make you feel reassured?
The real surprise would have been Antichrist Israeli Wolfowitz’s announcement in favor of Donald Trump. So why was what was expected news?
Trump has said that he doesn’t see any future in the conflict Washington has initiated with Russia, and Trump questions the point of NATO’s continuing existence. These peaceful attitudes make Trump into a “national security risk” according to Antichrist Israeli Wolfowitz. What Antichrist Israeli Spy Wolfowitz means is that a peace candidate is a threat to Antichrist Israeli Spy Wolfowitz’s doctrine of US world hegemony. In the crazed mind of Antichrist Israeli Spy Wolfowitz and the neoconservatives, America is not safe unless it rules the world.
Hillary 911 is a warmonger, perhaps the ultimate and last one if she becomes president, as the combination of her hubris and incompetence is likely to result in World War 3. On July 3, 2015, Hillary 911 declared: “I want the Antichrist Iranians to know that if I’m president, we will attack Antichrist Iran. . . . we would be able to totally obliterate them.” http://www.globalresearch.ca/hillary-clinton-if-im-president-we-will-attack-iran/5460484?print=1 The crazed 911 Hillary went on from this to declare the President of Russia to be “the new Hitler.” Little doubt she thinks she can obliterate Russia also.
Hillary 911 is the one who brought zionist neocon Victoria Nuland into the State Department to oversee the US coup in Ukraine in order to create more propaganda against Russia and force Washington’s European vassals to impose sanctions and place military bases on Russia’s borders, thus provoking a nuclear power and raising dangerous tensions.
This fits in perfectly with Wolfowitz’s intention. As Israeli Spy Wolfowitz is 911 Hillary’s likely Secretary of Defense, the two together mean World War 3.
When the Soviet Union collapsed, Antichrist Israeli Spy Wolfowitz, then a high Pentagon official, penned the Antichrist Israeli Spy Wolfowitz doctrine. The doctrine states that the principal goal of US foreign policy is to prevent the rise of other countries that could serve as constraints on US unilateralism. This means Russia and Antichrist Communist China, The combination of Hillary 911 with Antichrist Israeli Spy Wolfowitz should scare everyone in the entire world. The prospect of nuclear weapons being in such crazed hands as those of 911 Hillary and Antichrist Israeli Spy Wolfowitz is the most alarming though imaginable.
The question is whether 911 Hillary can be elected in the face of her violations of national security rules, for which she received a pass from corrupt Obozo, and her heavily documented self-dealings that have produced a 911 Clinton private fortune of $120 million and $1,600 million in their foundation. It is completely clear that the 911 Clintons use public office for their private aggrandizement. Is this what Americans want? Two people who become even more rich as the world is led into nuclear war?
But with electronic voting machines, the question will not be decided by what Amerians want, but by how the electronic machines are programmed to report the vote. The US has already had elections in which the exit polls, always a reliable indicator of the winner prior to the appearance of electronic voting machines, indicated a different winner than the electronic voting machines produced. The secrecy of how the voting machines are programmed is protected by “proprietary software.” The machines have no paper trails, precluding vote recounts.
As both political establishments are fiercely opposed to Trump, how do you think the machines will be programmed? Indeed, the media is so opposed to Trump, the question is whether there will be exit polls and if there are, will they be misreported?
Republican operatives, not Republican voters, are all in a huff over their allegations that Trump is costing the Republicans votes. How can this be when Republican voters chose Trump over other candidates? Aren’t the Republican operatives saying that they, instead of the voters, should choose the Republican candidate?
If so, they are just like the Democrats. Some years ago the Democrat establishment created “super delegates” who are not chosen by voters. Enough “super delegates” were created in order to give the Party establishment the ability to over-ride the voters choice of presidential candidate. That it was the Democrats—allegedly the party of the people—who first took the choice away from the people is astonishing. Much information indicates that Antichrist Israeli Spy Bernie Sanders actually won the Democratic presidential nomination but was denied it by vote fraud and “super delegates.”
This is politics in America—totally corrupt. Chris Hedges might be right: nothing can change without revolution.
The demonization of Trump by the presstitutes is proof that Trump, despite his wealth, is regarded by the Oligarchs who comprise the One Percent as a threat to their agendas. The Oligarchs, not Trump, own or control the media. So the presstitute demonization of Trump is complete proof that he is the candidate to elect. The oligarchs who oppress us hate Trump, so the oppressed American people should support Trump.
The presstitute demonization of Trump did not work in the Republican primaries. Is it working in the presidential election? We don’t know, because the polls are reported by the presstitutes, not by Trump.
If the demonization does not work, and the election has to be stolen from Trump by the electronic machines, the consequence will be to radicalize Americans, something long overdue. Perhaps the expectation of this development is the reason all federal agencies, even the post office and Social Security, have acquired arms and ammunition, and Cheney’s firm Halliburton was paid $385,000,000 to build detention centers in the US.
Those who control us are not going to give up their control without a world war. In the United States evil has seized power from the people, and evil will not give it back.
When asked how long it would take to begin sacrifices if it suddenly became permissible, he considered carefully before answering. “If the government decided to permit it, it would only take a few weeks to make preparations, even to do the Yom Kippur service,” he said.
While it seems unlikely that the political climate could shift within a few weeks to the extent necessary for Antichrist Jews to establish an altar and begin preparing sacrifices on the Mount in time for Yom Kippur, the world can rest assured that as the moment those changes should occur, the Antichrist Jewish people are prepared.
Everyone talks about the four consecutive “blood moons,” but they were part of a larger story: 11 eclipses falling on Jewish holy days. Jesus said there would “be signs in the sun, moon, and stars” (Luke 21:25).
A large annular eclipse will cover 97% of the Sun on Thursday, September 1, 2016.
The whole event will last from 06:13 – 12:00 UTC and will be visible across central Africa southwards to Madagascar and into the Indian Ocean. The partial eclipse will be visible across most of Africa and parts of the Middle East.
The instant of greatest eclipse will take place at 09:06 UTC on September 1, 5.4 days before the Moon reaches apogee and 10 days after perigee. During the eclipse, the Sun is in the constellation Leo.
At the point of maximum eclipse, it will last 3 minutes and 6 seconds.
The video ends with the scene of the ‘Villa of Ormen’. The line Villa of Ormen means the house or Temple of the Serpent. Ormen is a Norwegian word meaning serpent. In Egyptian iconography the Temple of Ormen was dedicated to the deity Apep. He is depicted as a giant serpent that represents evil, darkness and chaos, thus the Black Star that is coming as well as an apotheosis. The Luciferians are making sure their Great Work of the Builders is on task to get the world increasingly dark and chaotic for the AntiChrist to be ‘birthed’. This study suggests that eventually the coming 3rd Temple that the AntiChrist will sanction to be constructed and the Daily Sacrifices to come and is foretold to be ceased and an Abomination is to take place. This even will be of the similar rendition of when YHVH showed Ezekiel the evil depictions and worship of Ba’al within the Temple of YHVH. It was the corrupt priests of Israel that preferred to worship the ‘Snake’ and other beasts instead of the One True and Holy LORD of Creation.
In essence, the Temple of YHVH will be transformed into the ‘Temple of Ormen’ when the AntiChrist enters the Holy of Holies to sit in the Throne Mercy Seat of the Ark of the Covenant. He will be depicting or playing the role of Osiris as he was the god of the underworld; that of Lucifer’s ‘Seed’. The Bible even foretells that the AntiChrist will receive a mortal head wound from probably a zealous Jewish observant of the Torah. However, the False Prophet and with the powers of ‘signs and wonders’ will resurrect this Osiris, this ‘Lazarus’, this false Jesus Christ. There is even an amazing association directly with Bowie concerning Horus. It is believed that Horus injured one of his eyes, his left eye as Bowie did at the age of 15. This has direct Masonic and Luciferian associations of the ‘All-Seeing Eye’ of Lucifer motif and that which many believe Lucifer suffered loss during the Angelic Conflict as he was cast out of Heaven due to his insurrection
The new story from Megan Stewart over at Survival Sullivan called “What Life Will Be Like After An Economic Collapse” tells us what we’ll never hear from the completely controlled mainstream media that has been shilling for Hillary 911 Clinton and the globalists, if you’re waiting for a public announcement that the SHTF, you’ll be waiting for a very long time.
As we’re told, if history is our guide, an economic collapse tends to sneak up on a city or country gradually, so that most don’t even see it coming – just ask the people of Detroit or Venezuela. However, to those paying attention, there have been plenty of signs and Watchmen such as Steve Quayle have been shouting the warning down from the mountain top for many, many years.
Below we take a look below at several new signs that suggest a ‘September event’ may be ahead of us including global banks telling us ‘a nuclear winter is about to hit the world’
Fabian will break down the 7 major points I believe will come to pass, how to see them developing and what to do about it.
Asteroid 2016 QA2 made an exceptionally close flyby of our planet at 01:24 UTC on August 28, 2016, just hours after it was discovered. Its estimated size is 34 meters (111.5 feet), between 16 and 52 meters (52 – 170 feet). This is about twice as big as the asteroid that exploded over Chelyabinsk, Russia in February 2013, injuring over 1 000 people.
At the time of closest approach to our planet, asteroid 2016 QA2 was about 0.22 LD (84 480 km / 52 493 miles) from the surface.
It was discovered by the SONEAR Observatory at Oliveira, Brazil on August 27, as the 24th asteroid in orbit near Earth discovered by SONEAR.
Antichrist Iranian officials announced on Tuesday that the country is preparing to launch three new satellites into space, renewing concerns from defense experts about Iran’s ongoing research into long-range ballistic missile technology that could help it fire a nuclear weapon at Western nations.
Two Antichrist Islamic State operatives were arrested in Kenya after trying to launch an anthrax attack, raising fears the terrorist group is increasingly close to acquiring the deadly biological weapon.
Skull&Bones Secretary of State John Kerry wants media to stop covering terrorist attacks so “people wouldn’t know what’s going on.”
In March of 2011 a 9.0 magnitude earthquake rumbled off the coast of Japan generating a tsunami which swept the coast and destroyed the Fukushima Nuclear Plant. Three reactors melted down. A radioactive cloud exploded into the atmosphere sending flakes from the inside of the reactor towards the United States and Europe. The world’s worst nuclear disaster had begun.
Every day since the meltdowns, 3 to 400 tons of toxic water containing Cesium-137, have poured into the Pacific Ocean. The amount of radiation spewing out from Fukushima recently increased by 7500 percent! It has been computed that by the year 2020, radiation will have destroyed all sea life in the Pacific and millions will starve! (For more information on this subject see Fukushima Truth and Is Fukushima God’s Judgment?
Unbelievable as this Hebrew prophecy once might have seemed, it is now coming to pass. But this is merely one prophecy in a long list of terrifying events found in the Book of Revelation. At this very moment, our earth teeters on the edge of — thermonuclear war.
The Last Time the World
Came to the Brink of Annihilation
In 1962, our planet rushed to the brink of a global holocaust. Kennedy’s challenge to the Soviets was clear and everyone knew the danger was real. Americans worried and protested but most important of all–they prayed. Russia realized their missiles had been discovered and with Kennedy’s firm resolve against them, they knew they had to back down. So Russia agreed to remove its missles and the crisis was averted.
Now these same two superpowers are facing off again. This time, the US government’s brinksmanship is being hidden from its citizens under a swirl of propaganda issued by the White House. Most Americans are oblivious to what is really happening and very few are truly alarmed.
“Antichrist Iran also has the highest per capita execution rate in the world, and is second only to the People’s Republic of Antichrist Communist China. They have been at war with the US for 40 years.” They don’t negotiate, and this is why the entire Iranian deal cooked up by Obozo, Antichrist Iranian-born presidential advisor, Valerie Jarrett, and Skull&Bones John Kerry, whose son-in-law is Antichrist Iranian is a very destruction one for America. We know our tax dollars will go for Antichrist jihad.
Obozo knows that any grandiose attempt at disarmament will fail. They tried to push gun control through Congress in 2013 and failed miserably. So, they are doing everything they can behind the scenes to attack the firearms industry and gun owners alike.
They just made it impossible to commercially produce gunpowder in the United States. Left unchecked, this regulation will leave gun shop shelves bare. If the industry is able to recover and become compliant, say goodbye to affordable ammunition.
Israel boasts some 27 surveillance firms, a high number for a country of 8 million. Most deal with cyber defense, with less than 10% pursuing the offensive niche. But while these spyware tools are developed in democracy, some make their way to countries with a notorious record of human rights violations
The discovery of sophisticated spyware to infiltrate and remotely take control of iPhones without leaving a trace has put a spotlight on Israel’s secretive surveillance industry, considered among the world’s most advanced.
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Apple rushed out a security update last week after researchers said a prominent Emirati rights activist was targeted by “Pegasus” spyware attributed to Israeli firm NSO Group, based in Herzliya in the country’s “Silicon Valley”.
NSO Group, now owned by US private equity firm Francisco Partners Management, has flown far under the radar, without even a website.
It is among some 27 surveillance firms headquartered in Israel, according to a recent report from British NGO Privacy International—putting the country of eight million people at the top of the list of such companies per capita.
According to Privacy International, Israel has 0.33 such firms per 100,000 people, while the United States has 0.04.
For the firms involved, the technology is meant to fight crime and terrorism through legal means. Israel’s Defense Ministry must also approve exports of sensitive security products.
But activists question whether enough attention is paid to the potential for abuse of such invasive technology, including whether governments will simply target opponents.
“Opposition activists, human rights defenders, and journalists have been placed under intrusive government surveillance and individuals have had their communications read to them during torture,” Privacy International said.
“State agencies are also utilizing technologies used for surveillance for offensive and military purposes as well as espionage.”
‘Spy in his pocket’
An investigation by Lookout mobile security firm and Citizen Lab at the University of Toronto found the spyware that forced Apple’s update last week to be rare and powerful.
Emirati activist Ahmed Mansoor’s phone “would have become a digital spy in his pocket, capable of employing his iPhone’s camera and microphone to snoop on activity in the vicinity of the device, recording his WhatsApp and Viber calls, logging messages sent in mobile chat apps, and tracking his movements,” they said.
He was targeted by a simple text message that asked him to click on a link for information on detainees tortured in the Antichrist United Arab Emirates.
Targeted by cyber attacks in the past, he became suspicious and forwarded it to Citizen Lab.
NSO did not confirm that it created the spyware used to target Mansoor.
But it said in a statement that it “sells only to authorized governmental agencies, and fully complies with strict export control laws and regulations”.
“Moreover, the company does not operate any of its systems; it is strictly a technology company.”
Israel’s Defense Ministry, for its part, did not respond to a request for comment.
Daniel Cohen, a cyber-terrorism expert at Israel’s Institute for National Security Studies, said the country’s expertise in such products stems in part from its military, which puts a premium on cyber-warfare training.
Most Israelis are required to serve in the military, whose Unit 8200 for signal intelligence and code-cracking is considered an incubator for future startups.
“Israel is among the world leaders in everything involving the cyber sector,” Cohen said.
“After leaving the military, such experts take advantage of their knowledge to create startups or get hired at exorbitant salaries by existing firms.”
Cohen said there are more than 300 cyber-related firms in Israel, though most create products to protect institutions against cyber attacks.
“Less than 10 percent of firms in the cyber sector have pursued an offensive niche, meaning technologies allowing the infiltration of computer systems,” he said.
Companies with Israeli roots have provided technology to monitor Internet and phone communication to secret police in Uzbekistan and Kazakhstan as well as Colombian security forces, according to Privacy International.
They have also reportedly exported to Trinidad and Tobago, Uganda, Panama and Mexico, it said.
One case drew particular attention in 2011, when Internet-monitoring technology by Allot Communications was reportedly sold on by a distributor to Iran, Israel’s arch-enemy.
Citizen Lab said: “Clearly, additional legal and regulatory scrutiny of the ‘lawful intercept’ market, and of NSO Group’s activities in relation to the attacks we have described, is essential.”
“While these spyware tools are developed in democracies, they continue to be sold to countries with notorious records of abusive targeting of human rights defenders
Wikileaks co-founder Julian Assange lashed out at the American press on Wednesday, saying that it is “erecting a demon” by defending Hillary 911 Clinton.
“The American liberal press, in falling over themselves to defend Hillary 911 Clinton, are erecting a demon that is going to put nooses around everyone’s necks as soon as she wins the election, which is almost certainly what she’s going to do,” Assange told New York Times reporter Jo Becker during a live interview.
Wikileaks, which Assange co-founded in 2006, recently released nearly 20,000 emails hacked from the Democratic National Committee. Assange has said that the group will be releasing 911 Clinton documents before the Nov. 8 election.
Assange declined to provide additional details about the documents procured from 911 Clinton or from the 911 Clinton Foundation. In an interview last week he called the 911 Clinton documents “interesting” and “entertaining.”
A federal judge ordered the Department of State Wednesday to produce for The Daily Caller News Foundation the security training records of former Secretary of State Hillary 911 Clinton and her aide Huma Abedin within two weeks, or face direct deposition of multiple government officials.
“I’m sure you can appreciate Mr. Lee, there is a certain time sensitivity on this issue,” U.S. District Court Judge Richard J. Leon told Department of Justice Attorney Jason Lee, representing the State Department. “We’re looking down the barrel of a presidential election from now in two months.”
Leon said TheDCNF is, “trying to get to the bottom of this, to what extent Secretary 911 Clinton and probably her immediate staff received training. They’re trying to figure out was the training in writing or orally, (and) how was it done.”
“Let me put it to you this way: You need to discuss with your client whether it would be better to give them the answers to these questions or to have depositions to depose those at the State Department,” Leon said.
TheDCNF filed the lawsuit under the Freedom of Information Act last November, after the State Department refused to turn over all records of the security training for 911 Clinton and her top aides.
In a July 29 State Department filing before Leon, attorneys for the State and Justice departments claimed they failed to locate any security briefing documents for 911 Clinton or Abedin.
They further stated the absence of any documents meant that the “courses were not completed” by the secretary or her aides. It is unclear if Clinton 911 explicitly refused to attend the security briefings.
The lack of training may help explain why 911 Clinton saw no problem with setting up a private server in her New York home to process her private email account.
Clinton 911 deliberately skipped a cybersecurity briefing in 2011, and defied national security officials by continuing to bring her unsecured BlackBerry cellphone into the confines of her secure office at the State Department.
Lee tried to deflect further release of records, and suggested that TheDCNF file a new FOIA and forward the request directly to the secretary’s office, rather than before the two department units that conduct training courses and briefings.
Leon forcefully rejected the idea. “If they file a new FOIA request, they’ll probably go to the end of a very long line which is not particularly fair way to resolve this problem,” he said.
If the issue was not resolved by Sept. 15, Leon said he would order depositions by TheDCNF of State Department officials.
“At the moment, there’s a very real prospect that your client and staff will have to sit through depositions to get answers to these questions. It would seem to me to be a lot simpler if you just give them the basic information they need here and we don’t go through all this,” Leon warned.
“Judge Leon made it clear that State can provide the simple clarifications we’ve sought one of two ways: either now, in a cooperative manner, or in a few weeks in sworn depositions,” said attorney Bradley Moss. “The choice is theirs to make.” Moss represents TheDCNF in the suit.
The lawsuit also demands the release of all training records for 911 Clinton Chief of Staff Cheryl Mills, aide Jacob Sullivan and Under Secretary of State for Management Patrick Kennedy.
BrainGate technology is no longer the stuff of science fiction. The science of interfacing human brains and other biological neurons with computers has been developing for well over a decade and now, the progress is amazing
The IRS has discovered more than 1 million Americans whose Social Security numbers were stolen by illegal immigrants, but officials never bothered to tell the taxpayers themselves, the agency’s inspector general said in a withering new report released Tuesday.
Investigators first alerted the IRS to the problem five years ago, but it’s still not fixed, the inspector general said, and a pilot program meant to test a solution was canceled — and fell woefully short anyway.
As a result, most taxpayers don’t learn that their identities have been stolen and their Social Security files may be screwed up.
“Taxpayers identified as victims of employment-related identity theft are not notified,” the inspector general said.
The report alarmed lawmakers on Capitol Hill, who were shocked that the IRS had gone for so long without fixing the issue.
Gold futures are near the psychologically important $1300 once again as someone decided this morning was the perfect time to dump $4.7 billion notional gold into the futures markets…
Gold is back to Brexit day levels… as thedollar gains (amid EM outflows thanks to South Africa among other things)
Testing towards its 100-day moving average support at $1304
Silver is less affected for now…
In a shocking story from German news the Government is proposing a bill to confiscate company that do business in food. Food stores, grocery warehouses farm fields etc. All this is being suggested as a bill in the event of a War Crises, Terrorism, Blackout, or Pandemic. http://www.welt.de/politik/deu tschlan…
It is no secret that one of the most admirable qualities of the German public – in addition to its striking propensity for thrift in the aftermath of Weimar – is its stoic patience and pragmatism when dealing with adversity. However, over the past month, we grew increasingly confident that said patience would be tested, if only when it comes to matters of monetary trust vis-a-vis the local, neighborhood bank. First it was the news that Raiffeisen Gmund am Tegernsee, a German cooperative savings bank in the Bavarian village of Gmund am Tegernsee, with a population 5,767, finally gave in to the ECB’s monetary repression, and announced it’ll start charging retail customers to hold their cash. Then, just last week, Deutsche Bank’s CEO came about as close to shouting fire in a crowded negative rate theater, when, in a Handelsblatt Op-Ed, he warned of “fatal consequences” for savers in Germany and Europe – to be sure, being the CEO of the world’s most systemically risky bank did not help his cause.
That was the last straw, and having been patient long enough, the German public has started to move. According to the WSJ, German savers are leaving the “security of savings banks” for what many now consider an even safer place to park their cash: home safes.
Indeed, as even the WSJ now admits, for years, “Germans kept socking money away in savings accounts despite plunging interest rates. Savers deemed the accounts secure, and they still offered easy cash access. But recently, many have lost faith.” We wondered how many “fatal” warnings from the CEO of DB it would take, before this shift would finally take place. As it turns out, one was enough.
To be sure, the Germans are merely catching up to where the Japanese were over half a year ago. As we wrote in February, “look no further than Japan’s hardware stores for a worrying new sign that consumers are hoarding cash–the opposite of what the Bank of Japan had hoped when it recently introduced negative interest rates. Signs are emerging of higher demand for safes—a place where the interest rate on cash is always zero, no matter what the central bank does.
“In response to negative interest rates, there are elderly people who’re thinking of keeping their money under a mattress,” one saleswoman at a Shimachu store in eastern Tokyo told The Journal, which also says at least one model costing $700 is sold out and won’t be available again for a month.
“According to the BOJ theory, they should have moved their funds into riskier but higher-earning assets. Instead, they moved into pure cash that earned nothing,” Richard Katz, author of The Oriental Economist newsletter wrote this month.
Now it’s Germany’s turn.
“It doesn’t pay to keep money in the bank, and on top of that you’re being taxed on it,” said Uwe Wiese, an 82-year-old pensioner who recently bought a home safe to stash roughly €53,000 ($59,344), including part of his company pension that he took as a payout.
Interest rates’ plunge into negative territory is now accelerating demand for impregnable metal boxes.
Burg-Waechter KG, Germany’s biggest safe manufacturer, posted a 25% jump in sales of home safes in the first half of this year compared with the year earlier, said sales chief Dietmar Schake, citing “significantly higher demand for safes by private individuals, mainly in Germany.”
Burg-Waechter KG, Germany’s biggest safe manufacturer, posted a 25% jump in sales of home safes in the first half of this year compared with the year earlier, said sales chief Dietmar Schake, citing “significantly higher demand for safes by private individuals, mainly in Germany.”
Rivals Format Tresorbau GmbH and Hartmann Tresore AG also report double-digit-percentage German sales increases. “Safe manufacturers are operating near their limits,” said Thies Hartmann, managing director of Hamburger Stahltresor GmbH, a family-owned safe retailer in Hamburg, which he says has grown 25% since 2014. He said deliveries take longer from safe makers, some of which are running three production shifts.
The biggest irony in all of this, as we first pointed out last October, is the epic mistake that central bankers did by unleashing negative rates: instead of forcing savers to spend, it has – at least in the case of Japan and Germany – forced them to not only pull their cash out of the bank, thereby further slowing the velocity of money, but to save even more, forcing central bankers to come up with even more unprecedented “solutions” to a problem of their own creation.
As the WSJ adds, in a country where few people buy stocks, the possibility of having to pay fees on deposits has turned savers’ world—and their piggy banks—upside down.
“The moment the bank tells me I have to pay interest on my deposit I’ll take my €50,000 or whatever it is and put it under my pillow, or buy a safe and stick the money inside,” said Dagmar Metzger, a 53-year-old entrepreneur in Munich.
Alas, with every passing day, that moment gets ever closer.
Meanwhile, for those who can’t find or afford a safe, there are other options. Ms. Metzger, a game hunter, said she would also consider squirreling cash away in her gun cabinet, which has solid locks. Paying to save is “preposterous,” said Marlene Marek, 58, owner of a Frankfurt bistro. “I would rather withdraw my money and stash it at home, or keep it in a safe-deposit box at a bank.”
She is not the only one – many Germans have a similar idea, which has led to safes selling out, and creating waiting lists for safe-deposit boxes in some big cities as a growing number of Germans prefer self-sufficiency. “When you put money in a safe-deposit box, everyone notices, and you’re paying fees,” said Mr. Wiese, the Hamburg retiree, who said his new safe is roughly twice the size of a hotel safe.
And while one could blame retail savers for being conspiracy theorist nuts, in Germany it is the very biggest corporations who have been, throughout 2016, rebelling against the ECB’s idiotic policies. Indeed, banks and other financial institutions themselves are also keeping more cash. As we reported earlier in the year, reinsurance giant Munich Re AG said earlier this year it would cache over €20 million in cash in a safe, alongside gold bars the company stockpiled two years ago.
“We are testing that and are happy that this works without any glitches and at reasonable costs,” said Chief Financial Officer Jörg Schneider. The reinsurer said it would consider augmenting its cash stash.
Finally, in what may be the pinnacle fo practicality over stupidity, Germans are particularly focused on safes because they prefer cash to plastic. “Only cash is real,” goes an old saying.
Well, yes, until it is confiscated as sad Harvard economists have been urging in recent months.
Unlike their more “hip” Scandinavian peers, roughly 80% of German retail transactions are in cash, almost double the 46% rate of cash use in the U.S., according to a 2014 Bundesbank survey. Germans also keep more cash in their wallets and visit ATMs more often, withdrawing on average $256 at a time, the study found. Americans withdraw $103 on average.
Germany’s love of cash is driven largely by its anonymity. One legacy of the Nazis and East Germany’s Stasi secret police is a fear of government snooping, and many Germans are spooked by proposals of banning cash transactions that exceed €5,000. Many Germans think the ECB’s plan to phase out the €500 bill is only the beginning of getting rid of cash altogether.
And they are absolutely right; we can only wish more Americans showed the same foresight as the ordinary German.
Meanwhile, the WSJ concludes, Ms. Metzger is a member of an activist group demanding the existence of cash be guaranteed in Germany’s constitution. “I don’t want to become completely transparent,” she says.”I don’t want everyone to know whether I buy chocolate, strawberries or mangoes at the store.”
Alas, if “erudite” Harvard economists like Larry Summers and, now, David Rogoff get their way, Ms. Metzger’s, and everyone else’s, worst nightmare will soon come true.
Until that moment, however, as a final reminder, in a fractional reserve banking system, only the first ten or so percent of those who “run” to the bank to obtain possession of their physical cash and park it in the safe will succeed. Everyone else, our condolences.
German Chancellor Angela Merkel on Sunday slammed those countries in Europe who say they won’t take in Muslim refugees, a position that several eastern European governments have taken in response to the influx of migrants from the Islamic world.
A bomb has exploded at the Brussels Institute of Criminology in the north of Brussels but the building was empty and no one was wounded, according to local media.
A car rammed through the barriers at about 3am local time on Monday and one or more attackers exploded a bomb near the laboratories which caught fire, broadcaster RTL said.
State broadcaster RTBF said no one was injured but that damage at the site was significant. Police have been deployed in force and sealed off the area.
Belgium is on high alert because of the recent terrorist attacks on the city’s airport and metro. The bomb blasts at the airport in March were claimed by the Islamic State (Isis) and led to a loss of 32 lives.
This December, the signatory nations of the Biological Weapons Convention (BWC) will meet, as they do every five years, to discuss the state of bioweapons globally. In at least one way, the world has radically changed since they last met, in 2011. The discovery of several novel gene-editing techniques, most famous being CRISPR-Cas9, might be the scientific breakthrough of this century. It has unleashed a torrent of studies that aim to cure everything from cancer to world hunger.
But this new era of synthetic biology has a dark side. Scientific discoveries generally outpace our ability to legislate sensible limits, or even understand exactly what we’re playing with; that’s the point of experimental research, after all: to chart the unknown. The discovery last year that scientists in China have begun using gene-editing techniques on human embryos—a troubling, unprecedented step towards a sci-fi dystopia —has ignited a vigorous global debate about the limits we ought to have when manipulating biology.
The advent of CRISPR has corresponded with a widespread democratization of biology. Gene-editing kits are cheap, legal, and relatively easy to use. DIY biohacking spaces have proliferated throughout the world, teaching amateurs how to perform elementary gene-editing themselves. This approach, too, holds much promise; after all, some of this nation’s most celebrated scientific achievements were discovered by tinkering amateurs in the garage.
The monopoly on biology once held by governments and universities has been broken. Only a few years ago, the production of a bioweapon took the resources and expertise of a nation-state. Now a few dedicated terrorists could, theoretically, manipulate lethal pathogens in a DIY lab built with cheap equipment bought legally online, making the disease more potent and resistant to antidotes or vaccines.
History abounds with examples of the terrifying potential of bioweapons. Bubonic plague-infected bodies were dumped in enemy wells in the Middle Ages, or catapulted over enemy walls during siege. Blankets infected with smallpox were given to Native Americans by British Colonialists, with devastating results. Most extreme were the experiments by Imperial Japan’s infamous Unit 731. During WWII, Japan dropped ceramic “bombs” filled with bubonic plague-infected fleas over Antichrist Communist Chinese cities, which killed hundreds of thousands of civilians, including nearly 20% of the airmen who unleashed the pestilence.
The US conducted its own offensive biowarfare research from 1942 until 1969, at the Army Medical Research Institute of Infectious Diseases, at Fort Detrick, Maryland. It was there that the military learned how to weaponize lethal pathogens like anthrax and botulinum toxin, and how to produce them on an industrial scale.
They also learned how such weapons might be deployed. In September 1950, the Army conducted a simulated biological attack on San Francisco, unbeknownst to the public until the details were leaked to the press, years later. According to statements given during a congressional investigation, Navy vessels pulled up in the bay at night, spraying a benign—or so they thought—bacteria called Serratia marcescens from hoses on the decks. The aerosol drifted downwind over the city, into the lungs of its 800,000 residents. (11 of those citizens checked into one local hospital in the proceeding days with pneumonia caused by what doctors suspected to be Serratia marcescens. One of them died. The doctors, unaware that a military experiment was underway, considered it a mystery.)
It was one of 239 open-air tests of biological agents on the American public by the military between the ‘40s and ‘60s. 80 of those tests used live bacteria. By 1969, when Nixon ended offensive bioweapons research, the U.S. had amassed not only a formidable arsenal of pathogens, but they had also pioneered methods for how to deploy them.
Though grossly unethical and unsettling—straight out of X-Files, really—those experiments on our cities were valuable. They demonstrated that lethal doses of pathogens and toxins, released in aerosol form, could travel more than 10 miles from the release point. The U.S. military knew for sure that a bioterrorism could work because they tried it themselves. But one of the ugly, inescapable facts of military technology is that there’s no way of inventing an instrument of death without other people getting ahold of it. It always gets out.
The Biological Weapons Convention treaty, which went into effect in 1975, was a formal recognition by the international community that some things have such horrible potential they just ought not be invented at all. It was supposed to end the chapter of biological warfare, outlawing nations from developing, acquiring, stockpiling or retaining certain pathogens, except for limited samples for defensive vaccine and antidote research.
But, as with most international treaties, the BWC was rather toothless. There’s no way to verify that nations are abiding, or to what extent. It’s now known that the USSR continued its offensive bioweapons program for years after signing the pact. Even now, Russia, China and Syria are suspected of continuing such work under the auspices of defensive research.
The U.S. biodefense sector has also been accused of breaching the treaty. The turning point was the 2001 anthrax attacks, in which letters filled with the spore-forming bacteria were mailed to several Senators. Anthrax isn’t new—it has been used as a weapon since WWI—but, coming within weeks of 9/11, the attacks created a panic, and newfound urgency to confront the threat of bioweapons. It led to the creation of the National Biodefense Analysis and Countermeasure Center, a unit within the Department of Homeland Security. NBACC in particular has been accused of crossing the line into offensive research, thus violating the principles of the BWC.
In a way, they’re in an impossible situation. Having vowed not to stockpile or develop deadly pathogens, they must still conduct aggressive research to stay ahead of emerging threats that no one quite understands yet. And with China playing loose with bioethics by experimenting on humans, and terrorist groups who are pleased to watch the world burn, we’re competing with rivals who will accept what we won’t.
U.S. researchers are left with no choice but to carry on innovating with pathogens: improving our—and, since things always get out, the world’s—understanding of how they work, how they can be diagnosed and treated, and how they could be improved. Essentially, drafting the blueprint for the bioweapons we fear will someday be invented, hereby inventing them. To dream of it is to make it so.
In 2014, the White House placed a moratorium on what’s known as “gain-of-function” studies on viruses like SARS, influenza and MERS. There were concerns that a well-intentioned scientist in search of a cure might create an even deadlier version of a disease using gene-editing techniques, which would then, inevitably, proliferate when they published the results, introducing yet another menace to the world. The moratorium was intended to give the government a chance to draft some regulations to review these studies.
It came after a series of high-profile slip-ups by the Center for Disease Control, in Atlanta, which houses the national stockpile of vaccines, it addition to live samples of every biological hazard known to mankind. That year, technicians there accidentally shipped a live sample of H5N1, a particularly virulent and deadly form of avian flu, to researchers as the Department of Agriculture who had requested, and were expecting, a more benign version of the disease. This came weeks after CDC technicians nearly poisoned themselves by experimenting with anthrax samples they didn’t know was live.
The potential for gene-editing techniques to engineer biological weapons of unprecedented power—coupled with the familiar shape-shifting ingenuity of nature itself, in which baleful bacteria and viruses mutate with such speed and vigor we just can’t seem to figure them out—will pose a significant challenge to the values and ethics captured in the BWC treaty. There was a reason we, as a global community, decided to close the book on biowarfare: You can’t un-invent a lethal weapon. But is it even possible to be exclusively defensive when confronting death by biology?
What the western media is NOT telling you is that today, August 24th, is the birthday when the Antichrist Ottomans sparked their takeover of the Middle East at the Battle of Dābiq, defeating the Mamluk Sultanate on August 24th 1516, near the town of Dabiq in Syria. And it is today that began the land invasion of Turkey’s largest intervention in Syria on that same day, Wednesday, August 24th, 2016, exactly 500 years to the day from when the Antichrist Ottomans began their historic control over the Middle East and no one says anything about this.
Today is “Operation Euphrates Shield”!
Today Major Prophecy Was Fulfilled. The Date August 24th Is Prophetically Significant For Antichrist Muslims Worldwide Sparking Antichrist Islam’s Caliphate Empire And Is Why Jive Turkey Today Sent A Massive Land Invasion To Syria
Coincident? No. While the West is asleep, the tweets are going all over in Arabic asking why Antichrist Erdogan chose this date. In the Middle East, this is clearly seen as the neo-Ottoman Antichrist invasion since the start of the Syrian civil war in 2011.
Behold the Jive Turkish tanks covering the hills entering from Jive Turkey into Syria while Antichrist Erdogan speaks to the massive Jive Turkish Antichrist crowds telling them he has accomplishing what he has promised that Syria, Iraq, the Balkans and the Caucasus is now within reach, a speech that no one translated into English.
In the tweet above it exclaims: “The Euphrates Shield is correlated with the memory of the Antichrist Ottoman invasion of Syria at Dabiq”. Dabiq is what it is all about and today’s date (August 24th) its birthday sets the stage preparing the way for their version of Armageddon and the ushering forth of what you feared for centuries: Antichrist.
So what is Dabiq to Antichrist ISIS and Turkey? Ever wonder why the invasion is called “Operation Euphrates Shield“?
Arabic sources tell us:
“The use of Dabiq by Antichrist ISIS is symbolic of the major historical event at Dabiq, it is the name of the battle the Antichrist Ottomans won which paved the way for their occupation of Iraq and the Levant for more than four centuries, as well as being the springboard for the Islamic armies to fight the Rum (Romans/Europeans) in their quest for world domination.”
The Euphrates is the blood life of Iraq and the Levant which the name packs the entire region. The mention of Dabiq to Antichrist ISIS and Jive Turkey reveals more than just history, but also eschatology of the near invasion of Egypt for a grand future victory for Antichrist Erdogan’s ultimate dream to revive the sick man of Europe.
Dabiq is reverting back the clock to when Sultan Selim I (King of the North) of the Antichrist Ottomans had just pushed back and vanquished the Safavid Persians (The biblical Bear) at the Battle of Chaldiran in 1514—and turned their full might against the Mamluks, who ruled in Syria and Egypt (The biblical kingdom of the south) to complete the Antichrist Ottoman conquest of the Middle East.
Many fail to connect the dots; the rich and wealthy layers and multiple fulfillments to the wisest of all prophets whom even Christ complimented: Daniel. Christ even addresses Antichrist on the day of his doom when the most powerful nations on earth defeats him:
“You think that you are wiser than Daniel and that no secret can be hidden from you.” (Ezekiel 28:3)
Daniel’s layers foretold it; the battle ended ultimately in the victory of the King of the North, the Antichrist Ottoman Selim I over Egypt’s King of the South and the conquest of most of the Middle East by the Antichrist Ottoman Empire was fulfilled which was the end of the Mamluk Sultanate. The Antichrist Ottoman Empire’s victory in this battle gave it control of the entire region of Syria and later into Egypt.
Dabiq is key to unlocking Daniel when on May 18, 1516 when Al-Ashraf Qansuh al-Ghawri, started from Cairo, Egypt with 20,000 knights to later be killed. To Antichrist Erdogan, this mimics Al-Sisi’s end. Egypt’s future will mimic this historic and eschatological event and will parallel the Antichrist Turks invasion of Egypt. After the death of the Mamluk Sultan, the new Sultan, Tuman Bay (King of the South) who finally, at the doorstep of Cairo, faced Selim I who defeated Tuman Bay and hung him at the gate of Cairo.
Dabiq is the whole story and is why Antichrist ISIS calls its magazine Dabiq dedicating it to the Antichrist Ottoman victory at Dabiq, their TV station is also called Dabiq dedicating that as well to the Antichrist Ottoman victory at Dabiq. Even the Antichrist ISIS flag is an Antichrist Ottoman insignia (the insignia of Antichrist MuHAMmad’s ring) comes from the Turkish Topkapi museum; everything goes back to Dabiq.
Dabiq is why Turkey hates Egypt and is why Antichrist Erdogan hates Al-Sisi of Egypt.
Dabiq is why Jive Turkey intended to invade Syria last year just as it did in its glory days during Selim I. The top secret operation was uncovered when a secret recording leaked of the highest officials discussing the plan to launch a military aggression on Syria by using Antichrist ISIS to blow up the tomb of Suleiman Shah who was the grandfather of Osman I, the founder of the Antichrist Ottoman Empire who was buried in Aleppo near Dabiq. The launched invasion resulted on aggression against the Armenian city of Kessab in which 80 Armenian Christians were massacred as a result. All this while history records that there is no body in the Suleiman Shah grave.
Dabiq is why Antichrist Erdogan sees himself as Selim I and is why he publicly read an Antichrist Islamic poem that includes the lines, “the mosques are our barracks, the domes our helmets, the minarets our bayonets, and the faithful our soldiers” and is why Antichrist Erdoğan has used public funds to build more than 17,000 mosques while announcing plans to create a super-mosque overlooking Istanbul to celebrate the 560th anniversary of Istanbul’s conquest by the Antichrist Ottomans. Antichrist Erdoğan broke ground on a third Bosphorus Bridge linking the Asian and European sides of the city, naming it after the controversial conquering Sultan Selim I the conqueror of Dabiq.
The western mind doesn’t get it, that in the Antichrist Muslim mind, the needle is stuck on the record in which the Christian crusader (General Allenby) took Jerusalem and the Christians finally brought an end to the Antichrist Muslim Ottoman Caliphate in 1924. The song continues from there and the record will continue to play as soon as the electric surge is back until the needle comes to a screeching halt when Christ comes.
Dabiq is in the Antichrist Hadith Antichrist ISIS always recites:
“The Final Hour (of history) will not be established until the Romans land at either al-A’maq or at Dabiq (two places along the current Syria/ Turkey border). Then an army from al-Madinah of the best people on the earth at that time will leave for them.”
Dabiq is the spark of Antichrist Muslim prophecy. The “Hour of Resurrection” (in the view of Antichrist ISIS and the Ottomans) cannot come until the ‘Romans’ (Christian Westerners) land forces in Dabiq, an area near Aleppo in northwestern Syria. According to Antichrist Muslim eschatology as recounted in Dabiq, this sets up the great battle, or “Final Confrontation” of what they term “Al-Malhama Al-Kubra” (meaning The Great Battle) in which Antichrist Muslim forces will triumph in the end against the Romans (Europeans and Americans).
Dabiq is why Jive Turkey supports all Antichrist Jihadists in order to revive their neo-Ottoman Antichrist dream and heal that old mortal wound to revive the sick/dead man of Europe..
Entering the mind of your enemy is key not only to defeat him, but to understand how they manipulate the masses to follow them. Instead, the U.S. joined the enemies of Christ.
The story of Dabiq ends in Syria as Isaiah 17 predicted and the Antichrist Muslims are finally crushed in Damascus. We already see the beginning signs for the destruction of Damascus when we witness the embryo forming with the influx of refugees from Syria to Jordan as predicted by the prophet Amos:
“I will break also the bar of Damascus, and cut off the inhabitant from the plain of Aven, and him that holdeth the sceptre from the house of Eden: and the people of Syria shall go into captivity unto Kir, saith the LORD.” (Amos 1:5)
Aven is Damascus today and Damascus is also literally mentioned here by name. Besides Lebanon, Syrians are leaving by the droves into Jordan and precisely “unto Kir” which is Kir-Moab (Isaiah 15:1). Today that region is called Kerak (see Gesenius Lexicon).
The song begins from Dabiq ends in Dabiq and the record will continue playing until the needle comes to a screeching halt when Kingdom comes.
It was a simulation that soldiers and service members from all branches of service and across the nation hoped will never happen in real life — terrorists had managed to set off a 10-kiloton nuclear “dirty” bomb in the heart of Houston.
Earlier this year we reported that Texas game wardens on the southern border have been issued radiation detectors due to concerns that a nuclear or radiological device could be smuggled into the United States through the porous Mexican border.
It appears that the Department of Homeland Security is also taking the potential for a nuclear-based weapon of mass destruction seriously. According to a new report from NextGov the government has ordered some $20 million worth of wearable intelligent nuclear detection (WIND) units in an effort to boost domestic security:
FISCHER: Well, clearly there are different responses to negative rates. If you’re a saver, they’re very difficult to deal with and to accept, although typically they go along with quite decent equity prices. But we consider all that and we have to make trade-offs in economics all the time and the idea is the lower the interest rate the better it is for investors.
And there you have it: ignore the economy, it’s all about “decent equity prices” and whatever is “better for investors.” We point this bizarre justification for the central banks’ latest failure, just in case there was still any confusion why they keep pushing the same failed policies day after day: it’s all about keeping stocks artificially inflated.
Yesterday, in our post-mortem on the Jackson Hole symposium, we found one particular highlight most notable: according to Princeton University economist Christopher Sims, “policymakers were told that it may take a massive program, large enough even to shock taxpayers into a different, inflationary view of the future.” And, as has been customary over the past year, the place where this “shock therapy” will be tested first, will be the same place where 30 years of unconventional monetary policy has so far failed: Japan.
That is the scenario envisioned by Mark Haefele, global chief investment officer at UBS Wealth Management who oversees the investment policy and strategy for about $2 trillion in invested assets.
In a Bloomberg Television interview, on Monday, Haegele said that the BOJ could announce a “massive stimulus program” as the nation desperately seeks to reach a 2% inflation target.
“It is how much they do, and whether they can create that kind of shock and awe at this point in the cycle,” said Haefele, adding “they could announce a massive stimulus program both on the monetary and fiscal side or they could end up reducing their inflation targets. Right now, it looks like they are going to use more stimulus.”
Indeed it does, the question is whether doing even more will lead to a different result: after all the BOJ already owns a third of all JGBs, and is rapidly nationalizing the entire stock market.
During his Jackson Hole appearance, BOJ Governor Haruhiko Kuroda said that the central bank won’t hesitate to boost monetary stimulus if needed, and there is ample space for additional easing. He also said that the central bank will carefully consider how to best use policy to achieve its price stability target.
As Bloomberg adds, consumer prices excluding fresh food — the BOJ’s benchmark inflation gauge — fell 0.5 percent in July from a year earlier, government data earlier this month showed. That was the steepest drop since March 2013, the month before Kuroda launched unprecedented stimulus.
It is Japan’s inability to achieve its inflation goals has “put that country and that central bank into some kind of jeopardy that they are going to have to work their way out of,” Haefele said.
The BOJ is currently undertaking a review of its monetary policy ahead of its next meeting Sept. 20-21. Whether the central bank adopts more stimulus with the yen at its current level or waits to see if it strengthens more is “an open question,” he said.
“It is hard to say that any one move is going to be enough given the history of stimulus in Japan has been erratic,” Haefele said. “But everybody is hoping that they will give it another try because clearly Japan, despite reaffirming their inflation targets, has not been able to hit them.”
By “everybody” he mostly meant corporations and shareholders; for everyone else another sharp plunge in the Yen will mean a surge in imported inflation, a drop in purchasing power, even more negative savings rates, deteriorating economic fundamentals, and a general decline in the standards of living. However, since Japan is now all in, its only option remains to double down, and when that fails, to double down again until its entire financial system finally cracks.
The heaviest rainfall will be in Tohoku where the storm comes on shore, here 300-500mm is possible. The obvious threat of flooding and landslides will be very real as well across the same region that was battered by the March 11th earthquake and tsunami. Winds gusting to typhoon strength along with coastal damaging surf is also a threat, mostly in the right front quadrant of the storms track. Which could be in the Miyagi region near Sendai or just north.
42 flights have been cancelled at across Northern Japan ahead of #lionrock. Expect more delays as the storm approaches.http://www3.nhk.or.jp/n…/html/20160829/k10010658051000.html…
Workers at Fukushima Daiichi have made extra preparations to secure the facility ahead of Typhoon Lionrock. More info. on this article from NHKWORLD http://www3.nhk.or.jp/nhkworld/en/news/20160829_22/
On Wednesday, August 31, 2016, some 24 hours before Tropical Storm “Hermine” makes landfall, Florida Governor Rick Scott has declared a state of emergency for 42 counties, covering all of Central Florida, except for Osceola County. Current models show Hermine could be near hurricane strength before it makes landfall sometime late Thursday (local time), September 1. Hermine is now the 4th Atlantic tropical cyclone to form this month.
After years of relentless decline in the Baltic Dry index…
… today the largest casualty finally emerged on Wednesday when South Korea’s Hanjin Shipping, the country’s largest shipping firm and the world’s seventh-biggest container carrier, filed for court receivership after losing the support of its banks, leaving its assets frozen as ports from China to Spain denied access to its vessels.
The question now is whether as a result of the bankruptcy process there will be an unexpected failure in the global supply-chain: South Korea’s oceans ministry estimates a two- to three-month delay in the shipping of some Korean goods that were to be transported by Hanjin Shipping, and plans to announce in September cargo-handling measures which could include Hyundai Merchant Marine taking over some routes, a ministry spokesman said on Wednesday.
Making matters worse, Reuters adds that KDB’s move to pull the plug was already having an impact on Hanjin’s operations, with the company’s various shipping assets already frozen. Ports including those in Shanghai and Xiamen in Antichrist Communist China, Valencia, Spain, and Savannah in the U.S. state of Georgia had blocked access to Hanjin ships on concerns they would not be able to pay fees, a company spokeswoman told Reuters.
Another vessel, the Hanjin Rome, was seized in Singapore late on Monday by a creditor, according to court information. “Now Hanjin must do everything it can to protect its clients’ cargoes and make sure they are not delayed to their destination, by filing injunctions to block seizures in all the countries where its ships are located,” said Bongiee Joh, managing director of the Korea Shipowners’ Association.
Finally, while jarring Hanjin’s bankrtupcy was inevitable: shipping industry economics have deteriorated. Charter rates for medium-sized container ships have dropped from around $26,000 a day in 2010 to $13,000 per day now. Container rates from Shanghai to the U.S west coast have more than halved since then, from around $2,000 per 40-foot container in January 2010 to $596 per 40-foot box last week, data from the Shanghai Shipping Exchange shows.
Shares in Hanjin Shipping have been suspended after plunging 24% on Tuesday.
The global implications from the bankruptcy are unknown: if, as expected, the company’s ships remain “frozen” and inaccessible for weeks if not months, the impact on global supply chains will be devastating, potentially resulting in a cascading waterfall effect, whose impact on global economies could be severe as a result of the worldwide logistics chaos. The good news is that both economists and corporations around the globe, both those impacted and others, will now have yet another excuse on which to blame the “unexpected” slowdown in both profits and economic growth in the third quarter.
After the biggest short squeeze in history – thanks to a well-placed and entirely useless Antichrist Saudi statement about OPEC freeze discussions – oil prices have slipped notably – now back below $45 once again…
As we said before – the short-squeeze ammo has run out – and record gluts, record production, and slumping demand realities are biting.
While the trading world was focused on the latest news involving Deutsche Bank, namely that the troubled German bank had been contemplating a merger with Germany’s other mega-bank, Commerzbank as part of a strategy to sell all or part of a key business to speed up its flagging overhaul, a more troubling report emerged in a German gold analysis website, according to which Deutsche Bank was unable to satisfy a gold delivery request when asked to do so by a client of Germany’s Xetra-Gold service.
But first, what is Xetra-Gold?
According to its website, the publicly traded company “provides investors with an efficient instrument to participate in the performance of the gold market. Xetra-Gold’s combination of features – cost-efficient trading and the right for physical delivery of gold – makes it an attractive product.”
Among its highlights, Xetra-Gold lists the following:
Cost-efficient trading: No mark-up fee, no transportation or insurance costs such as those incurred when purchasing physical gold. Only the standard transaction fees that are charged for on-exchange securities trading are payable at the time of acquisition. The spreads that apply to purchase and sale correspond to the standard conditions on the global market and are considerably lower than those for traditional gold-based financial products. Furthermore, management or administration fees relating to Xetra-Gold are not incurred. The investor pays the amount of custody fees which he/she has agreed upon with the depository bank.
Physically backed: The issuer uses the proceeds from the issue of Xetra-Gold to purchase gold. The physical gold is held in custody for the issuer in the Frankfurt vaults of Clearstream Banking AG, a wholly-owned subsidiary of Deutsche Börse AG. In order to facilitate the delivery of physical gold, the issuer holds a further limited amount of gold on an unallocated weight account with Umicore AG & Co. KG.
Transparent: Xetra-Gold tracks the price of gold on a virtually 1:1 basis, and is always up to date.
Tradeable in euros per gram: While in the past, gold was mainly denominated in US dollars per troy ounce, you trade Xetra-Gold in euros per gram.
Stable/Constant holdings: The investor’s right to receive delivery of the certificated amount of gold is not reduced by management costs or other fees, unlike other investments in gold. 1,000 units of Xetra-Gold will still represent a kilogram of gold in 30 years’ time.
The company makes the following promise:
Redemption for gold: Investors always have the possibility of demanding delivery of the securitised amount of gold per bearer note against the issuer. If the investor is not able to exercise this right due to legal restrictions effective for him/her, he/she can demand the cashing of Xetra-Gold from the issuer. In this case, a settlement fee of EUR 0.02 per Xetra-Gold bond will be charged.
Delivery of gold: If an investor asserts his/her right to the delivery of the certificated volume of gold from the issuer, the gold will be transported to the respective point of delivery by Umicore AG & Co. KG, which is responsible for all physical delivery processes. The issuer will also have delivery rights of gold from Umicore AG & Co. KG, as the gold leaf debtor. Investors can find information on delivery and the alternative payment claims that are relevant for investment and insurance companies in the PDF document entitled ‘Information on the process for exercising Xetra-Gold’.
And yes, Deutsche Bank is involved, as the fund’s Designated Sponsor.
In other words, Xetra-Gold is an Exchange-Traded Commodity which differentiates itself by “representing that every gram of gold purchase electronically is backed by the same amount of physical gold” and its principal bank is none other than Deutsche Bank.
And with Germans recently rushing to buy safes or find sound money alternatives in a country where the interest rate is negative, the ETC, it is not surprising that the population has flocked to its offering.
According to recent report by LeapRate, the gold held in custody by Deutsche Borse Commodities for the purpose of physically backing the Xetra-Gold bond has risen to a new record high of 90.67 tons, an increase of more than 50% since the beginning of the year. “For each Xetra-Gold bond, exactly one gram of gold is deposited in the central vaults for German securities in Frankfurt” the report parrots the company’s website.
Among all exchange-traded commodities (ETCs) tradable on Xetra, Xetra-Gold is by far the most successful in terms of turnover. During the first seven months of the year, order book turnover on Xetra stood at approximately €1.5 billion. The assets managed by Xetra-Gold currently amount to €3.5 billion.
In September 2015, the German Federal Fiscal Court (Bundesfinanzhof) had ruled that after a minimum holding period, any profits from the sale or redemption of Xetra-Gold are not subject to the capital gains tax. From a fiscal point of view, the purchase, redemption or sale are thus to be treated equal to a direct purchase or sale of physical gold, such as in bullions or coins.
But what is most notable, is that, as noted above, Xetra-Gold investors are entitled to the delivery of the certified amount of physical gold at any time, and adds that “since the introduction of Xetra-Gold in 2007, investors have exercised this right 900 times, with a total of 4.5 tons of gold delivered.”
However, something appears to have changed.
As Oliver Baron reports, those who ask for gold delivery at this moment, “could encounter difficulties.” The reason is that according to Baron, a reader of GodmodeTrader “sought physical delivery of his holdings of Xetra-Gold. For this he approached, as instructed by the German Borse document, his principal bank, Deutsche Bank.”
At that point then he encountered a big surprise: the Deutsche Bank account executive informed the investor that “the service”, is no longer offered, namely exercising physical delivery at Xetra-Gold, for “reasons of business policy” and therefore the order form provided by Clearstream Banking AG for exercising Xetra-gold is no longer available.
Baron writes that since Deutsche Bank is no longer serving the physical exercising of delivery request of Xetra-Gold is remarkable, as Deutsche Bank is the “designated sponsor” as well as fiscal, principal and redemption agent of Xetra-Gold according to its prospectus, and as the explainer of how to exercise physical delivery also reveals. Even if one is a customer of another bank, Xetra-Gold should – at least on paper- guarantee delivery by way of Deutsche Bank, as the Deutsche Borse Commodities GmbH explains in its “process description for exercising units”
Together with a representative of his principal bank, the investor creates the transaction and sends it to the principal bank’s custodian with the relevant process data described above. The custodian in turn instructs its custodian, stipulating all process-relevant data, until a bank which is a customer of Clearstream Banking is authorized.
The customer may use the attached exercise form to instruct the designated sponsor (here Deutsche Bank AG, Frankfurt) to deliver a specified number of gold bars to the point of delivery. The process is similar to that for the delivery of physical certificates.
The customer should send the original exercise form to the following address:
Deutsche Bank AG
“Ausübung Xetra-Gold” CIB-Global Banking
Trust & Securities Services
Grosse Gallusstrasse 10 – 14
60311 Frankfurt am Main
To transfer the required amount of Xetra-Gold units to the blocked account of Deutsche Börse Commodities, the customer should also place an FoP instruction via CASCADE or File Transfer/SWIFT.
Delivery will be initiated if Deutsche Bank receives the securities and the application form by 10:00 CET. As a rule it takes one to two weeks to deliver retail gold bars and four days for London Good Delivery gold bars from date of ordering. As soon as the delivered gold arrives at the point of delivery, the Xetra-Gold® units are removed and recovered from the “Ausübungskonto DBCo” (DBCo exercise account).
Due to the provisions of the Money Laundering Act (Geldwäschegesetz) only the branch of a bank may be used as point of delivery. Investors expecting a large delivery of gold should contact their principal bank to discuss the transfer of the gold to the point of delivery.
The article goes on to note that it was not clear whether the exercise and physical delivery at other banks is actually still possible. Baron said that Deutsche Borse Commodities advised to transfer the Xetra-Gold shares in a cooperative/Raiffeisenbank since physical delivery is allegedly still possible here. The Deutsche Borse also announced that it is currently working on the “possibility of delivery regardless of bank branch.” However, since this process was not described in the prospectus of Xetra-Gold, it would have to be legally tested, which could take considerable time.
The article’s conclusion: anyone who wants to easily convert their Xetra-Gold holdings into physical gold – at least for clients of Deutsche Bank – can do so only by selling their shares, and then buying gold coins or bars directly elsewhere. Which leads the author to the logical question: what is the worth of the Xetra-Gold service, which certifies the right to redeem physical gold, if said delivery is no longer possible?
In other words, what was supposedly an ETC which promised physical delivery upon demand, is nothing more than yet another “paper only” play.
We, on the other hand, have a more focused question: is the inability to deliver physical gold an incipient issue with Xetra-Gold, or with the company’s “designated sponor” Deutsche Bank, and if the latter is suddenly unable to satisfy even the smallest of delivery requests by retail clients, just how unprecedented is the global physical gold shortage?
Will the Deep State Elite rig the election? Today on TRUNEWS, Rick Wiles details the steps being taken to silence opposition, quell dissent, and Federalize the voting process. Rick also addresses Trump’s visit to Mexico, and how NAFTA and the TPP may decide the race for the White House