Jul 022015
 

Market Watch: “When Chicago Public Schools announced on June 24 that it would borrow $1 billion to make a $600 million-plus pension payment due June 30 an eerie feeling spread across bond investors and taxpayers alike.

It was the same feeling that gripped investors when Moody’s Investors Service downgraded Chicago’s credit rating to junk based almost entirely on the city’s pension problems.

The fear was that elevated pension costs, in cities like Chicago, might push these public entities into insolvency, wiping out much of the holdings of municipal-bond investors.”

MW-DP017_pensio_20150629114556_ZH

Opinion: In a post from May 28, 2015 economist Martin Armstrong warned “Kiss Your Pension Plan Goodbye” thanks to another Supreme Court ruling that was hidden by the mainstream press.

“The amount in private pension funds is about $19.4 trillion. The question that has been debated in secret behind the curtain is how to justify to the people taking that over. I have been warning that if this is seized by government, it will come after 2015.75. Just how that is to be accomplished was finally settled by the Supreme Court without any justification constitutionally.

“The US Supreme Court ruled last week in the unanimous, 8-page decision in Tibble v. Edison holding that employers have a duty to protect workers in their 401(k) plans from mutual funds that are too expensive or perform poorly. That is simply astonishing since there is no constitutional requirement for even government to provide social benefits.”

How many pension plan failures does the government need to justify a government takeover of the $19.4 sitting in pensions and IRAs?

I’m guessing one big one should do it.

(Thanks to Leo for sending this in)

 

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Jul 012015
 

The Washington Free Beacon: “A new poll by the Anti-Defamation League found that the majority of Greeks continue to hold anti-Semitic views about Jewish control over finance and the global economy, despite a recent drop in anti-Jewish attitudes in other parts of Europe.

Greece—which faces the prospect of economic default at midnight on Wednesday—surpasses Iran and trails just slightly behind Turkey in the percentage of its residents who hold anti-Semitic views.”

Opinion: 100% of Greeks are standing in a hole; best to stop digging Genesis 12:3.

Demonstrators hold Greek flags during a rally organized by supporters of the YES vote to the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015 Greece's European creditors were assessing a last-minute proposal Athens made for a new two-year rescue deal, submitted just hours before the country's international bailout program expires and it loses access to billions of euros in funds. (AP Photo/Petros Karadjias)

Demonstrators hold Greek flags during a rally organized by supporters of the YES vote to the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015 Greece’s European creditors were assessing a last-minute proposal Athens made for a new two-year rescue deal, submitted just hours before the country’s international bailout program expires and it loses access to billions of euros in funds. (AP Photo/Petros Karadjias)

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Jun 292015
 

Zero Hedge: ““They want to be on the top table in all areas of international trade and this is no different,” Sharps Pixley CEO told Bloomberg earlier this month, tying China’s move to participate in the twice-daily auction that determines London gold prices to Beijing’s efforts to embed the yuan more deeply in international investment and trade.

As a reminder, the auction has its roots in efforts to deter manipulation. Here’s what we said last month:

A long time ago, in a financial galaxy far, far away, a “fringe” blog raised the topic of gold market manipulation during the London AM fix. Several years later (which, incidentally, is about average in terms of the lag time between when something is actually going on and when the mainstream financial media finally figures it out and reports on it), it was revealed that in fact, shenanigans were likely afoot and indeed, regulators are still trying to sort out what happened. The ‘fix’ for the ‘fixed’ gold fix (only in the world of corrupt high finance is such a hilariously absurd passage possible) is supposedly a new system whereby the fixings are derived electronically. 

Opinion: In the fiction chapter of our book Antichrist: The Search For Amalek, we noted that since 2011, China has been buying vast amounts of gold which was being manipulated lower by Central banks and now it is now becoming clear as to why.

Globalist governments and organizations they control via lobbies understand that for a world government to be established the US dollar must be removed as world reserve currency and with it lone superpower status.

But before that happens, in order to avoid a world-wide depression, a temporary alternative to the dollar would need to be established prior to a single currency.

Enter the SDR or Special Depository Receipts. In our post on April 27, 2015 we said this:

The SDR:

  • A basket on currencies (money) defined and maintained by the International Monetary Fund (IMF)
  • SDR is a currency created by the International Monetary Fund used for payments between countries
  • The currencies chosen  are reviewed by IMF every five years, the last review was 2010
  • The SDR interest rate provides the basis for calculating the interest charged to borrowing members. Currently, SDRs include: US dollar, Euro, Pound Sterling and Japanese yen

China’s currency, renminbi, was rejected by the IMF in 2010 due to a lack of global liquidity. Since then China has been boosting gold reserves (with the help of central manipulation) to strengthen the case for inclusion in the SDR basket.

In April  20, 1015, a meeting in Washington hosted by the Official Monetary and Financial Institutions Forum (OMFIF) to discuss the future relationship, if any, of gold with the Special Drawing Rights (SDR).

The next review of the SDR is October 2015.

If renminbi and gold were to be included in the SDR, the nations whose currencies are in the basket would no longer be able to print money.

Over time the dollar, euro, and yen would necessarily be dropped – leaving a single currency, renminbi, along with gold in the basket.

Under normal conditions the US would simply block the Chinese, but these are not normal times:

  1. Full faith and credit of the dollar is deteriorating
  2. The US debt including unfunded liabilities is anywhere from 120-200 trillion dollars
  3. The number of nations joining the recent Asian Infrastructure International Bank (AIIB) was a huge embarrassment to the Obama administration and further weakened the dollar

The global economic chaos that would come from a crashing US dollar with an illiquid renminbi gold-backed reserve currency would logically lead to the creation of a cashless digital currency.

And a single currency is precisely what a leader of the revived Roman Empire would need in order to control buying and selling, Revelation 13:15-16.

logd

 

 

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Jun 262015
 
Australia Enlists As Founding Member Of China’s AIIB Bank

Morning News USA: “Australia, an ally of the United States, has finally enlisted to become one of the founding members of the Chinese-led Asian Infrastructure Investment Bank (AIIB). Not only has it enlisted, it has also pledged to contribute AU$930 million ($718.5 million; £455 million), making it the sixth biggest shareholder of the bank that could

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Jun 232015
 
Greece Capitulates: Tsipras Crosses "Red Line", Will Accept Bailout Extension

Zero Hedge: “Under pressure from all sides (and most importantly from Mario Draghi who holds the fate of the Greek banking sector in his hands) Greece looks to have folded and is now set to accept an extension of its current bailout program. PM Alexis Tsipras now faces an uphill battle to unite Syriza around

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Jun 182015
 
FOMC Press Conference: Yellen Explains Why Everything Will Be Awesome In The Future

Zero Hedge: YELLEN: WAITING TOO LONG TO RAISE RISKS OVERSHOOTING INFLATION (in financial assets?) *YELLEN SAYS POLICY MOVES TO DEPEND ON WIDE RANGE OF DATA (any excuse) *YELLEN: WHAT SHOULD MATTER TO MARKETS IS THE ENTIRE POLICY PATH (Do Not Sell!) *YELLEN SAYS THERE HAS BEEN SOME PROGRESS ON INFLATION (but do not sell) *YELLEN

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Israel Braces for Propaganda Assault by the U.N.

 anti-Semitism, Economy, Election 2016, Hamas, Israel, UN  Comments Off on Israel Braces for Propaganda Assault by the U.N.
Jun 172015
 
Israel Braces for Propaganda Assault by the U.N.

Front Page Mag: “The United Nations Human Rights Council is set to shortly release a so-called fact-finding report on the war last year in Gaza between Israel and Hamas, prepared by its “commission of inquiry.” The report is scheduled for “debate” by the Human Rights Council members on June 29th. The only thing that is

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