For all of you cattle people who have been to my Cattle Marketing School (or bought the DVD – still on sale by the way!), do you remember my mini-rant about the importance of domestic ownership and control of food production? Do remember my other mini-rant about the dangers of vertical integration and how extreme concentration of essential industries (er, like FOOD) makes a nation vulnerable to overthrow and takeover?
Um, yeah.
No bacon for you, Gweilo.
Back to finance. Poland did exactly what I and a few others have been warning about for years with regards to private retirement accounts and pensions. Poland confiscated 50% of all private pension funds last week. PRIVATE pensions.
As Warren Pollock and I have been screaming, one of the largest chunks of collateral left in the system is private retirement money, both in the form of 401(k)s and IRAs and in private pension accounts. In the U.S., the latest data for 2012 shows that there are now $10.5 Trillion in private 401k and IRA holdings, with another $9 Trillion in pensions and annuities.
The regime has been fairly open about its plans to “nationalize”, read CONFISCATE, this collateral and implement a system of “mandatory retirement savings accounts”, which will be just another confiscatory redistribution into the hands of the oligarchs and their cronies. This what Poland just did. This is what MF Global was in its essence. This is what Cyprus was, except the Cypriot confiscation was done to demand deposit accounts instead of retirement accounts, which is now termed a “bail-in” – but it is all of the same stripe, namely the utter destruction of the notion of private property and the redistribution of all wealth into the hands of the oligarchs. In Poland, the private pension paradigm has now also been destroyed because no one will want to put money into a private pension after this knowing that it can and will be stolen by the government at any time with zero redress.
ZeroHedge has a piece up on this that is very good, but allow me to riff on it a bit. Poland has a “debt ceiling” that prevents it from issuing debt over 55% of GDP. By confiscating and stealing (“nationalizing”) the Polish citizens’ private pension money, they are now booking that money as a straight-up cash asset on the government’s balance sheet, thus “freeing up room” against the GDP-to-debt threshold so that the Polish government can … issue more debt and spend, spend, spend.
Now here’s the terrifying part. The US debt-to-GDP ratio is over 100%. $15.5 Trillion dollar economy; $16.0+ Trillion in debt. The day Obama usurped in January 2009, that ratio was 70% or so. This massive increase in debt is 100% intentional, being executed will full malice of forethought, and is called the “Cloward-Piven Strategy”.
As I have written recently, the Obama regime is already using pension money to manipulate the so-called debt ceiling, namely the Thrift Savings Plan money, which is the government 401(k) equivalent for government employees, government retirees and the U.S. military. Yeah, all of these US military officers who are “going along to get along” so they can “make it eight more years until I get my pension” are chasing money that is already gone. Morons. The regime has already taken it, and all that is sitting in those accounts are worthless IOUs issued by neo-Stalinist oligarchs. They’re just too uninformed and deluded to understand this. This is why the national debt figures published by the government have not changed in months and months. They are using the TSP money to fraudulently offset public debt on the balance sheet.
Now let’s tie everything together. Let’s talk about DETROIT.
If you have watched my 8-part YouTube presentation on the economy, you already have a working knowledge of what I am about to discuss. If you haven’t, I really do recommend it. A time investment of 2.5 hours is not a lot to ask in order to understand how and why your civilization is about to collapse. Really. My YouTube channel link is at the top of the page. It’s right there.
Because of the zero interest rate policy (ZIRP) forced upon us by the Federal Reserve, pension funds are holding an enormous amount of derivatives, namely Repurchase Agreements (“repos”) and credit default swaps (“CDS”). I explain what these instruments are in the YouTube presentation. The reason pension funds and everyone else are holding these derivatives is because these are the only instruments that are actually quoting a return. Since interest rates are at zero, traditional top-level instruments generate almost zero yield.
Now, for every derivatives contract, there must be a counter-party. Someone is selling these derivatives to these pension funds, brokerage firms, state and local governments and other smaller banks. It is basically FOUR banks selling these derivatives: JPMorgan, Citibank, Bank of America and Goldman Sachs. These FOUR BANKS are carrying on their books $208 TRILLION in notional value derivatives contracts. All US banks together are holding $223 TRILLION, so these FOUR banks are holding 93% of the total.
To put this in perspective, it is estimated that the total of all assets in the US, public, private and corporations, the total value of absolutely everything in the United States is $217 TRILLION. These FOUR banks are holding on their books notional value in derivatives contracts roughly equal to 96% of ABSOLUTELY EVERYTHING in the United States of America. Even if you give the value of these derivatives held by these FOUR banks a 90% haircut, these FOUR banks are still booking 135% of the US GDP ($15.5 Trillion per year GDP vs. $21 Trillion in derivatives after the haircut). Are we feeling this?
As MFGlobal proved, derivative counterparties (in that case JPMorgan and Goldman Sachs) now enjoy a bullet-proof, legally protected but utterly morally illicit super-priority. The derivatives counterparties go to the front of the line BEFORE THE LINE EVEN FORMS. Bankruptcy doesn’t even begin until AFTER these counterparties move on a failed company, government, bank or fund and have looted it for any remaining collateral AND have terminated all non-beneficial contracts with said entity completely outside the conventional Rule of Law. Dodd-Frank is what set this up. THIS is what Dodd-Frank is all about and why it exists. Everything else is window dressing.
Not only does this benefit the big banks qua counterparties, is massively incentivizes them to knowingly go after and sell these derivatives to extremely weak parties. When a failure happens, the big banks have carte blanche to go in and loot everything they can. They are ROOTING FOR and now ACTIVELY FOMENTING DEFAULT among their counterparties. Not only do they have essentially zero risk, the big banks actually MAKE OUT BETTER if their counterparty defaults!
Note that I said that state and local governments are a huge holder of these derivatives. Detroit is the poster child for this dynamic. Detroit was massively allocated into interest rate swaps which were marketed to them as a hedge against rising interest rates. We now know that the LIBOR rate has been manipulated for years by these very banks, and we also know that the big banks, especially Goldman and JPMorgan, send their own people into the Federal Reserve and the Treasury Department in order to do their will. So, the big banks sell interest rate swaps as a “hedge” against rising interest rates and then make @#$% sure that interest rates move to and then stay at zero, thus guaranteeing a massive profit on the interest rate derivatives they have sold to their prey. In Detroit, now utterly insolvent, the big bank counterparties are at the front of the line and the Detroit city employee pension funds have been confiscated and sent to the big-bank counterparties who now have statutory super-priority thanks to Dodd-Frank.
Guys, it isn’t just Detroit. Detroit, like MFGlobal, is the first major municipality to go because it was run by psychopaths and imbeciles. This is every major city. This is every state. This is every bank (as I cover in the YouTube presentation), every brokerage house, every pension fund, both public and private. They’re all up to their eyebrows in these derivatives. It’s the only game left in town – engineered with full malice of forethought by the bankster oligarchy. These big banks are the counterparty to all of these entities and they have given themselves a super-priority claim to all collateral via Dodd-Frank, and their agents in the FEDGOV will back their morally illicit “legal claims” until they are PHYSICALLY MADE TO STOP. Yes, that means counter-revolution and almost certainly war. Aside from a truly supernatural Divine Intervention I can see no other possible way out of this. This is math. Only God – ONLY GOD – can trump math. These people are never, ever going to peacably walk away. Ever.
Here is a detailed source citation over at The Automatic Earth.
I’m going to go scrub some calcified fecal matter out of toilet bowls now, and praise God with every scrub.
An old post from Jesse’s Cafe Americain in which Jesse compiled Newman quotes into a new whole. Bold emphases mine. Most excellent.——-
“We are slow to master the great truth that even now Christ is, as it were, walking among us, and by His hand, or eye, or voice, bidding us to follow Him. We do not understand that His call is a thing that takes place now. We think it took place in the Apostles’ days, but we do not believe in it; we do not look for it in our own case.
God’s presence is not discerned at the time when it is upon us, but afterwards, when we look back upon what is gone and over. The world seems to go on as usual. There is nothing of heaven in the face of society, in the news of the day.
And yet the ever-blessed Spirit of God is there, ten times more glorious, more powerful than when He trod the earth in our flesh.
God beholds you. He calls you by your name. He sees you and understands you as He made you. He knows what is in you, all your peculiar feelings and thoughts, your dispositions and likings, your strengths and your weaknesses. He views you in your day of rejoicing and in your day of sorrow. He sympathizes in your hopes and your temptations. He interests Himself in all your anxieties and remembrances, all the risings and fallings of your spirit.
He encompasses you round and bears you in His arms. He notes your very countenance, whether smiling or in tears. He looks tenderly upon you. He hears your voice, the beating of your heart, and your very breathing. You do not love yourself better than He loves you. You cannot shrink from pain more than He dislikes your bearing it; and if He puts it on you, it is as you would put it on yourself, if you would be wise, for a greater good afterwards.
There is an inward world, which none see but those who belong to it. There is an inward world into which they enter who come to Christ, though to men in general they seem as before. If they drank of Christ’s cup it is not with them as in time past. They came for a blessing, and they have found a work.
To their surprise, as time goes on, they find that their lot is changed. They find that in one shape or another adversity happens to them. If they refuse to afflict themselves, God afflicts them.
Why did you taste of His heavenly feast, but that it might work in you—why did you kneel beneath His hand, but that He might leave on you the print of His wounds?
God has created me to do Him some definite service; He has committed some work to me which He has not committed to another. I have my mission — I may never know it in this life but I shall be told it in the next.
I am a link in a chain, a bond of connection between persons. He has not created me for naught.
I shall do good, I shall do His work. I shall be an angel of peace, a preacher of truth in my own place while not intending it if I do but keep His commandments.
Therefore I will trust Him. Whatever I am, I can never be thrown away. If I am in sickness, my sickness may serve Him; in perplexity, my perplexity may serve Him. If I am in sorrow, my sorrow may serve Him.
He does nothing in vain. He knows what He is about.
He may take away my friends. He may throw me among strangers. He may make me feel desolate, make my spirits sink, hide my future from me — still He knows what He is about.
Let us feel what we really are–sinners attempting great things. Let us simply obey God’s will, whatever may come. He can turn all things to our eternal good. Easter day is preceded by the forty days of Lent, to show us that they only who sow in tears shall reap in joy.
Contemplate then yourself, not as yourself, but as you are in the Eternal God. Fall down in astonishment at the glories which are around you and in you, poured to and fro in such a wonderful way that you are dissolved into the Kingdom of God.
The more we do, the more shall we trust in Christ; and that surely is no morose doctrine, that leads us to soothe our selfish restlessness, and forget our fears, in the vision of the Incarnate Son of God.
May the Lord support us all the day long, till the shades lengthen, and the evening comes, and the busy world is hushed, and the fever of life is over, and our work is done.
Then in His mercy may He give us safe lodging, and a holy rest, and peace at last.”
John Henry Newman
*This is a collection of quotations from John Henry Cardinal Newman woven into a whole cloth by Le Proprietaire (Jesse) as a young man for a small circle of friends.
Yep. Honest, intelligent discourse is now the domain of a 17 year old homeschooled lad and a ten-bucks-per-hour toilet scrubber woman. It’s completely perfect.
We cover mostly Syria and political dynamics. I hope the audio format helps reach more folks than the written format does.
This was recorded on Monday, September 2nd.
“As the astronauts soar into the vast eternities of space, on earth the garbage piles higher; as the groves of academe extend their domain, their alumni’s arms reach lower; as the phallic cult spreads, so does impotence. In great wealth, great poverty; in health, sickness; in numbers, deception. Gorging, left hungry; sedated, left restless; telling all, hiding all; in flesh united, forever separate. So we press on through the valley of abundance that leads to the wasteland of satiety, passing through the gardens of fantasy, seeking happiness ever more ardently, and finding despair ever more surely.”
-Malcolm Muggeridge
The Estate Liquidation Elves in Colorado report that they wanna get my junk cleared out… er, excuse me, that they are ready to sell the hot beverage mugs! Thank you in advance for your kind consideration.
**All buyers from Ann Barnhardt’s eBay account go straight to the top of some FEDGOV list somewhere. Guaranteed. So you’ll have that going for you, which is nice.
My eBay handle is 720ann.
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This Buy-It-Now sale is for one random hot beverage mug from the Ann Barnhardt estate. Each mug has been thoroughly imbued with Ann Barnhardt’s slobber, cooties and possibly trench mouth (aka Acute Necrotizing Ulcerative Gingivitis). Not liable for loss of teeth or any other manifestation of cranial rot resulting from the use of these mugs. Buy-It-Now price is $75 for ONE RANDOM MUG. Some are ceramic, some are glass. When you receive yours, it will be a surprise – just like Christmas except with trench mouth. Free shipping within the U.S. Ann Barnhardt prays daily for her benefactors and receives Holy Communion for them not infrequently.
 Mmmm. Is that nutmeg? |
Too good not to post.
All I’m going to quote is the opening. The rest is 1500 words of standard musloid ranting jibberish in keeping with the, er, unfortunate situation vis-a-vis the whole musloid gene-pool-IQ-bellcurve situation. IYKWIMAITYD.
From: Sai ferrero [email protected]
Re: Your current circumstance is enouth proof for you
In the name of allah the most gracious full of mercy
Peace be upon those who walk the divine path
How does it feel to live the way you do? After all you put yourself in this situation.
Dear Sai ferrero,
Absoluthely, posithively fanthastic. So good that there is no way I can thake the credith for ith. There thimply aren’t wordths.
Thanks for athking.
Cheerths-
Ann
Our Father, Who art in heaven, hallowed be Thy Name. Thy kingdom come. Thy will be done, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but deliver us from evil.
Dialogue, dialogue, dialogue. Encounter. Who am I to judge? Encounter dialogue. The poor! Dialogue encounter. The poor.
So I came across a fascinating piece about the liturgical rubrics for the pontifical blessing of military armor, swords, and military banners. But how can this be? War is never the answer! Oh, except when it is. Anyway, here is what a bishop is to say when blessing a sword:
Let us pray. Deign Thou to + bless this sword, we ask Thee, Lord; and with the guard of Thy holiness defend this Thy servant, who at Thy inspiration desires to receive it, and keep him from every harm. Through Christ, our Lord. R. Amen.
The bishop sprinkles the sword with holy water, then hands it to the person who is to receive it as the latter kneels before him, saying:
Receive this sword, in the name of the Fa+ther, the + Son and the Holy + Spirit, and may thou use it for thy defense, and that of the Holy Church of God, and to the confounding of the enemies of the Cross of Christ, and of the Christian faith: and as far as human frailty shall permit, may thou harm no one with it unjustly. And may He deign to grant this to thee, Who with the Father and the Holy Spirit….
How ’bout them apples.
I was not aware of this when I wrote the post below.
Well, duh.
And remember, the only musloids who actually believe or buy into any of the “religious” nonsense are the mentally retarded plebs. That isn’t what islam is about. Islam is all about centralizing and expanding power and wealth in an oligarch class. Period. It is EXACTLY like Marxism. High-ranking Marxists know little-to-nothing and care exactly nothing about economics, “the poor” or any of the rest. Marxism is all about consolidating power among a cadre of oligarchs. All of the talk about heping the poor and the underclass is the faux-religious pose of Marxism that it uses to manipulate the ignorant masses.
So, could Obama, an atheist, be a musloid? Well, sure – in the true sense, which is the POLITICAL sense. He fits the mold of a wannabe musloid oligarch perfectly (complete with being a sodomite), exactly the same way that Obama, who knows NOTHING of economics is also a Marxist. Do you see why the two political systems go hand-in-hand and are explicitly allied throughout history?
1. Janitorial labor of late has focused on the cleaning of bathrooms. You know, as I scour the coffee-colored mixture of sloughed human skin and hair of strangers mixed with soap scum out of grout and shower door tracks at eight bucks an hour with Mozart’s Requiem Mass on my iPod, all I can say is, “Thank you, Jesus.” The bitterness comes when I get back to the Van and read the news.
2. Obama is the Muslim Brotherhood. The Muslim Brotherhood is al Qaeda. The Muslim Brotherhood is run out of Saudi Arabia. Obama was Khalid al Mansour’s boy and Mansour got Obama into Harvard Law and the Saudi “royal” family paid his way per Percy Sutton.
The Saudis and the Russians almost certainly have the goods on Obama’s identity. Obama is their boy, hence the bowing and scraping to both the Saudi “king” and to Putin. The Obama regime almost certainly supplied the Muslim Brotherhood, which is al Qaeda remember, with chem weapons which they then used to mass-murder civilians in order to create optics that would justify U.S. action “against Assad”. Hmmm. I’m getting the weirdest deja vu here. Oh, yeah! Remember when the Obama regime supplied arms to the Mexican drug cartels which were then used to mass-murder civilians in order to create optics that would justify suspending the Second Amendment? OH MY GOSH, Y’ALL. It’s almost like it’s the same strategery, or something. Eyeroll. Would you poeple wake the heck up already?
The Saudis have wanted Assad deposed forever. Obama, acting as their proxy, is creating the optics to put the U.S. military (such as it is) to work for the Muslim Brotherhood/Saudis. Cui bono? The Saudis and the Russians, Obama’s two likely funders and backers (in his youth) and blackmailers (today), are the two biggest nation-state beneficiaries in all of this. And of course the banksters who can always use war to consolidate power and confiscate more wealth.
Assad was ahead and had traction in his civil war. Why in the world would he bait the U.S. when things were going his way? It makes zero sense. By the way, Assad is evil, too. There are NO “good guys” in any of this, including the former United States. It’s all bad guys all around. What a satanic clusterbungle.
2. Okay. One. More. Time. Obama is the enemy. The U.S. government has been overthrown. They’re TRYING to destroy the facade of strength and potency that the U.S. has carried for the last century. Do you know that I overheard a U.S. Army field-grade officer say with a straight face to a group of civilians that the reason Obama didn’t go into Benghazi to save Chris Stevens was because “we didn’t have the assets to win the fight”. That’s right, according to the United States Army, we didn’t possess the “assets” to put down 250 inbred mentally retarded goathumpers with AKs and Viagra erections who were a few clicks due south of Sigonella. The brainwashing is complete – except it is the reverse of every other military brainwashing in history. Normally tyrants brainwash their military officers into believing they have MORE capability than they actually do. In this case, the tyrants have convinced the military that they are, in fact, helpless and completely impotent. Why? Because the objective of the tyrants is to DESTROY the U.S. from the inside out. Khrushchev was right, Khrushchev was right, Khrushchev was right.
3. Hey! You know why democracy-based political systems will never catch on in musloid countries? BECAUSE THEY ALREADY HAVE A POLITICAL SYSTEM IN MUSLOID COUNTRIES. It’s. Called. islam. And islam is (all together now) a militant, expansionist, totalitarian oligarchical political system from the pit of hell. The “religious” pose aspect of islam is a paper-thin facade. And I mean cheap toilet paper thin.
4. The only moral response of civilization toward islam is total extermination. Even quarantine is untenable as it is utterly lacking in charity toward the innocents (mostly children) stuck inside the diseased landmasses. If anyone actually cared about these people, a 72 hour warning would be given to evacuate Mecca and Medina and then both cities would be nuked to glass. Next Baghdad, Tehran and Cairo would be given 48 hours to raze every mosque. If the people didn’t take to the streets and comply, a 24 hour evac warning would be given and those three cities would be nuked to glass. This process would continue until the people themselves understood that it was over and took care of their own business themselves. It wouldn’t take long.
4. As you all know, Pope Francis, the Vicar of Christ, is a theologically and rhetorically illiterate nincompoop. He is a scourge on God’s Holy Church, which we all deserve for putting up with the abominable sacrilege of the Novus Ordo mass for these last 45 years. May I be permitted to quote John Senior?
“The crisis is over; we have lost. This is no longer just a prediction, it is a simple observation: Rome has been desecrated. We are in the age of darkness. Triumphalist reactions are in vain. The modern world and the Church deserve the punishment that God is raining down on us.”
– John Senior
Okay, given that, let me just make a couple of quick points. Pope Francis keeps talking about “peace”. Well, being a non-educated and contra-educated South American “Jesuit”, he doesn’t even know what peace is. Boys and girls, hate to break it to you, but PEACE IS THE PERFECT APPLICATION OF GOD’S JUSTICE.
Think about it. If “peace” is defined as merely the absence of war, or as “superficial societal quietude”, then North Korea is a bastion of peace. This is why police officers, who walk around with guns, are called “peace officers”. It is their job to ensure lawful justice, which yields a truly peaceful society. Same idea with the “Justice of the Peace”. He ensures the application of justice in society, which may require trials, incarceration, the issuing of arrest warrants, etc. in order to maintain the peace. And let me be frank, anyone with anarchist sympathies has got to be a complete imbecile. Sorry. In a fallen world all notions of anarchy are either evil or a function of a total disconnect from reality. I have no time for such irrational stupidity.
Blessed are the peacemakers. Blessed are those who work to bring about a state of true justice – an endless task in this fallen world. Oftentimes, due to the Fall and Original Sin, this absolutely, positively requires war. (See post immediately below wherein the Blessed Virgin helped the Holy League mete out some perfect justice on the musloid hoardes at Lepanto. And then there was PEACE.) If you don’t like that, then just go elsewhere and play with your dolls or something and leave the serious stuff to the people with brains and balls. And may the PEACE of Our Lord Jesus Christ be with you always.
5. Yeah, war is never the answer and never solves anything, EXCEPT WHEN IT IS AND WHEN IT DOES. Lepanto. Vienna. Tours. Belgrade. Just ask the Blessed Virgin, St. John Capistrano, and countless others. Who are you going to believe on this point? Are you going to believe a South American Jesuit who refuses to ever, ever, ever genuflect to Our Lord on the altar and can only spit out ridiculous and/or utterly meaningless platitudes in incomplete sentences bordering on jibberish, OR THE MOTHER OF GOD, QUEEN OF HEAVEN, SEAT OF WISDOM, MIRROR OF JUSTICE and DESTROYER OF HERESY?
6. Did I see Pope Francis bow to the “queen” of Jordan? Of course. Heck, I’m shocked he didn’t genuflect. Oh, but I forgot, he *can’t* genuflect, right? Eyeroll. Bottom line: As a “Jesuit”, Pope Bergoglio has been indoctrinated with a hatred of the See of Peter and, like all hippies, hates any notion of authority. (Who am I to judge? I’m just the super-humble chair of the diocesan community of Rome, man. Whazzup. #Selfie ) He refuses to comport himself with dignity, much less the dignity of his office, which by the way is an Absolute Monarch, because he doesn’t BELIEVE that Peter has any real authority, and he believes that the Church should be a decentralized quasi-democracy. The parallels to Obama really are striking. Like Obama, Bergoglio is an affirmative-action placement who is totally unqualified, completely infatuated with his own press and image, utterly incapable of intelligent extemporaneous speech and yet so lacking in self-awareness that he actually thinks his rhetoric is at genius-level because the lapdog press can’t flatter him enough, and, like Obama, has an agenda to deconstruct the very institution he heads from the inside-out. The man is a scourge.
And he is the Vicar of Christ on earth.
Our Lord is angry with His faithless, cowardly, lukewarm people. Very, very, very angry.
6. Now circling back, since the U.S. has been overthrown by a cadre of neo-Stalinists in an explicit alliance with the Muslim Brotherhood, do I think the former-U.S. should go to war in Syria? NO!!!!! The war that needs to happen is in the U.S. to depose the Obama regime. Remember, sedition is insurrection against a LEGITIMATE GOVERNMENT. The Obama regime is utterly, completely and totally illegitimate, therefore insurrection and counter-revolt against it is NOT sedition, it is a moral imperative. Either you depose these demonic wretches in Washington or they will start World War III without hesitation or compunction. It has been their plan since the beginning. Chaos is their stock and trade. These people will NEVER give up power peacably. The necessity for war with them was locked-in on November 4, ARSH 2008. The only question for you all to decide is WHEN. Will you do it now or will you do it when your world is a smoldering rubble and the New Caliphate is marching over Europe like the Uruk Hai marching to Helm’s Deep? Don’t say you weren’t warned.
7. This is what I listen to while scrubbing dead skin slime out of showers, and also what I posted the night Obama was elected, November 4, ARSH 2008: