Author Archives: Ann Barnhardt

A Little St. Catherine

From Letter 16, St. Catherine of Siena:

I beg you to make it so, so that hard word will not be said to you as a reprimand from the First Truth, saying, “Cursed be you who were silent.” Oh, be silent no more! Cry out with a hundred thousand tongues. I see that, through being silent, the world is spoiled, the Bride of Christ has paled, her color taken from her …Don’t sleep in negligence any longer. Act at the present time, however you can. I believe that there will come a time when you can no longer act; but now, at the present time, I invite you to strip your soul of all self-love, and dress it in hunger and real, true virtue, to the honor of God and the health of your soul.

St.-Catherine-of-Siena-10

On Jibberish, Flattery and Francis

I’ve had this piece bouncing around in my mind for a while.  If I stall around long enough, an email comes that acts as the perfect launch.  Well, here it is.  Emphases mine:

Dear Ann,
Thank you so much for this post!
I am a 21 year old woman who is in the process of figuring out my vocation. I have attended the Latin mass all of my life and find it incredibly difficult to be faithful to Catholicism in my relationships with non-Catholics and my Catholic friends who do not take their faith as seriously as I do. I am trying to be a good example to them while allowing our relationships to flourish and continuing to grow in my faith, but I’ve found that my commitment to my friendships is having a negative impact on my faith. I’m being forced to choose which is more important and I find that extremely painful. It is exactly as you say, my desire for human love and affection is interfering with my faith and principles; not on a serious level ….yet! But I do see that it is setting me up for bigger compromises down the road. This article clearly and uncompromisingly defines true love as Our Lord’s love for us, ie. selfless love solely for the sake of those beloved and doing what is best for THEM, regardless of the physical, mental, and emotional cost to HIM, the Lover.
Thank you so much for taking the time to explain a vital piece of Catholicism that has been hiding in plain sight all of my life! I’ve been trying to imitate Our Lord, but so far, I’ve been confused as to what I’m supposed to be imitating. There are so many twisted and warped ideas out there that have been messing me up, namely the media and the culture of “nice” that has seeped into me and all of the people around me. This non-contingent Christlike love is what I should be striving for in all of my relationships. I finally have the answer to a question that has been burning in my mind since I was fourteen years old. That question is “What is true love?” You’ve laid the answer out for me in black, white and red. For that I am eternally grateful!!

Why do you people all come here and read what I write and say, whether it be on financial markets, politics or theology?  How many of you came here due to one topic – say the MFGlobal meltdown – but now come and read my posts about Catholicism?  Or vice versa?  How many of you disagree with me, but still read every word I write and listen to every audio interview or video presentation I do?

The answer is because whenever I speak I always SAY SOMETHING CONCRETE, and I say it in extremely clear, even BLUNT language.  I make points.  Clear, explicit points.  I lay out a foundational premise, build a logical, rational framework on top of it, cite examples, make direct instructional analogues, and before you know it, we have all learned something.  This is called “rhetoric”, which is the art of discourse.  For some reason, I am really, really good at rhetoric, and good rhetoric is attractive.

There were never any conversations around a family dinner table that honed my rhetorical skills when I was a kid.  I was basically silent in school.  I just listened.  I suppose in all of that listening I learned how others successfully framed arguments and presented information in a compelling way and merely copied those techniques.  And, perhaps, I get help sometimes.  I will admit to having the experience while speaking extemporaneously before groups of listening to myself almost as an observer and – God forgive me – being impressed with something I said that had never occurred to me before the moment it came out of my mouth.  “Wow.  That was good.  Gotta remember that.”

Now there is an important catch in this.  There can be “attractive” rhetoric that is all lies, and great speakers who are utter loons, or worse.  Hitler comes to mind.  Hitler was making clear points, which were lies – but stated with great bluntness and clarity, and made logical progressions that were built completely on false premises, and was obviously a captivating speaker, and he was evil to the bone.  Just because the rhetoric qua rhetoric sounds “good” doesn’t mean that it is TRUE.  Always remember that.

Okay.  Enough of the self-congratulation.  Let’s talk about this modern problem of people speaking in mindless platitudes and even abject jibberish and being hailed as geniuses for doing so.  Two obvious examples of this are Obama and Francis.  I will be focusing on Francis, because I think we are all probably on the same page with regards to Obama’s mindlessness.

Last week a letter Francis wrote to an atheist journalist made headlines because in it Francis said something like, belief in God is not necessary – you only need follow your conscience.  He has said things like this before – do good works and we’ll meet each other there, etc.  The press picks these things up, splashes them all over every paper and website all over the planet, enormous, incalcuable damage is done to human souls by them, and never ONCE has Pope Francis made ANY effort whatsoever to clarify these horrific, horrific blunders and mis-statements.  And spare me the wailing and moaning – if you need 60,000 words on advanced Aristotelian or Thomistic thought as it applies to a pagan living in the Amazon River Basin in the third century Before Christ in order to make Pope Francis’ statement even MILDLY conform to, er, CATHOLICISM, then the problem is his, and it isn’t a problem of being “too smart”.  It is exactly the opposite.  Pope Francis is a theological and rhetorical idiot.

I actually read the entire text of the letter Francis sent in response to the inquiries of the atheist journalist about Christianity and the Church.  Several times.  It is utterly incomprehensible jibberish from beginning to end.  It is a series of buzzwords and catchphrases pasted together until something resembling paragraphs form.  I assume that the atheist journalist has a brain in his head, and has now received a letter from the Vicar of Christ in direct “response” to his questions about the Faith and the Church, and there isn’t a cogent, direct answer in the entire thing.  If I were the atheist journalist, I would now walk away from Christianity forever with a smug feeling of certitude that it is all nonsense, because the pope himself couldn’t even form a single lucid, much less persuasive point or explanation in response to my inquiries.

And the press and the politicians and the neo-con “Kathy’s” in the commboxes read this tripe, and being so eager to appear “smart” and “deep” and to build up (particularly the press) a man who is a veritable wrecking ball against the “brick-by-brick” attempted reconstruction of Christian Culture, SWOON and fawn over it, just as the people swooned and fawned over the buck-naked emperor as he paraded down the street.  What these people are doing is the sin of flattery.

It’s jibberish.  It is intellectual bluffing.  He is a contra-educated South American Jesuit.  There’s no “there” there.  These guys were taught Marxism and pop psychology in seminary, and then ordained priests.  They were taught to ruthlessly disdain and resent EVERYTHING “old”, including the Church Itself, and instead to stare intently down at their own navels, marvel at the lint, and then build a “newchurch” out of that lint.  Bluffing is all they can do, and edifices built out of lint can only ever collapse – but they are taught that these edifices of lint are vastly superior to anything before, and even to relish in their “nuanced dialogue”, aka jibberish, with the world.

I will leave you with two quotes.  The first is Pope Francis speaking yesterday.  The second is from the thirteenth chapter of the book of Ezechiel.  Be sure to read the footnotes.
Kyrie eleison.

“I dare say that the Church has never been so well as it is today. The Church does not collapse: I am sure of it, I am sure of it!”
Pope Francis, The Vicar of Jesus Christ on Earth, Successor to the See of Peter

–**–

Even the prophets of Israel that prophesy to Jerusalem, and that see visions of peace for her: and there is no peace, saith the Lord God. And thou, son of man, set thy face against the daughters of thy people that prophesy out of their own heart: and do thou prophesy against them, And say: Thus saith the Lord God: Woe to them that sew cushions under every elbow: and make pillows for the heads of persons of every age to catch souls: and when they caught the souls of my people, they gave life to their souls. And they violated me among my people, for a handful of barley, and a piece of bread, to kill souls which should not die, and to save souls alive which should not live, telling lies to my people that believe lies. Therefore thus saith the Lord God: Behold I declare against your cushions, wherewith you catch flying souls: and I will tear them off from your arms: and I will let go the souls that you catch, the souls that should fly.  And I will tear your pillows, and will deliver my people out of your hand, neither shall they be any more in your hands to be a prey: and you shall know that I am the Lord. Because with lies you have made the heart of the just to mourn, whom I have not made sorrowful: and have strengthened the hands of the wicked, that he should not return from his evil way, and live. Therefore you shall not see vain things, nor divine divinations any more, and I will deliver my people out of your hand: and you shall know that I am the Lord. 
Ezechiel 13: 16-23

Sew cushions: Viz., by making people easy in their sins, and promising them impunity.

They gave life to their souls: That is, they flattered them with promises of life, peace, and security.

Violated me: That is, dishonoured and discredited me.

To kill souls: That is, to sentence souls to death, which are not to die; and to promise life to them who are not to live.

Starting Monday Off Right

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.

That's St. Basil in the background cheering.

That’s St. Basil in the background cheering.

We have covered St. Mercurius (who was born Philopater) before.  This is him slaying Julius the Apostate.  Check the two-fisted technique.  And those are his BACK-UP systems.  He has already deployed his spear.

Saints Basil and Mercurius, pray for us!

This Is Why I Keep Doing This (401k Happy Story)

I posted a template letter here for folks to use when requesting that their employer let them out of their 401k and actually take possession of their money last August 23rd and received the following email today:

Miss. Barnhardt:
 
Thank you so much for being “a voice crying in the wilderness”. Prior to your warnings I liquidated any and all assets held in the U.S. marketplace.  The only place I was unable to rescue my family’s money was my 401k.  When I called the brokerage I was informed of the few and limiting reasons my 401k plan allowed withdrawals; I fit none of them and in-service wasn’t one of them.  So I prayed to God and “let go” of the money emotionally by offering it to Him.
 
Then you posted the form letter which requested the plan change to allow in-service withdrawals.  I formatted that letter to fit my situation (company names, etc.) and sent it to my company’s finiancial officers.  This week I was informed that they had approved my request and the plan will be amended to allow withdrawals.  I am grateful to you for all of your writings and example.
 
My wife and I pray for you.  May God’s peace be with you all the days.
Hooray!  Yay!  If that’s the only good I ever do, then it has all been worth it.  Yay!!  Here is the template again with a couple of minor additions:
—————————————–

This was drafted and sent in by a reader, and I think it is a great template for anyone who wants to petition their employer to let them out of their 401k. I would recommend sending it via certified mail – let them know you’re dead serious, and try to get as many of your co-workers to do the same as you possibly can.

*****MAKE CERTAIN THAT YOU REPLACE THE BRACKETED AREAS WITH INFORMATION SPECIFIC TO YOU AND YOUR COMPANY. FAILURE TO DO THIS WILL RESULT IN YOU MAKING A FOOL OUT OF YOURSELF AND DRASTICALLY REDUCING THE CHANCES THAT ANYONE WILL LISTEN TO YOU OR TAKE YOU SERIOUSLY.******

———————————————

To: [PLAN SPONSOR]
[PLAN SPONSOR ADDRESS]

Dear Plan Sponsor,

I am writing to petition that the [LEGAL NAME OF THE PLAN] be amended to allow in-service withdrawals. As the plan stands now, the only way for actively employed participants to retrieve money is through a 401K loan or a Hardship Withdrawal. Neither of these two options allow participants full access to their assets. While I understand the purpose of the [LEGAL NAME OF THE PLAN] is to encourage savings for retirement, I fear that my assets are not entirely safe from fraud and theft and will not be available to me at retirement.

Numerous recent examples indicate the financial markets are rife with fraud, often at the peril of the individual investor. From what I gather of recent events I do not feel that my money is safe and currently have no recourse to move my assets from the [LEGAL NAME OF THE PLAN] to other investment vehicles.

Examples of recent fraud and theft in the financial industry:

MF Global

MF Global was a global commodities brokerage that declared bankruptcy in October of 2011. It was discovered that approximately $1.6 Billion in customer segregated funds were stolen and used to meet capital requirements in the weeks leading up to bankruptcy. To date, no one stands to face criminal charges.

Peregrine Financial Group (PFGBest)

In July of 2012 it was discovered that PFGBest stole approximately $220 million of customer funds. While claiming to have over $200 million in bank accounts, it turned out that PFGBest held only close to $5 million. The fraud appears to have spanned multiple decades despite the firm being regularly audited. The PFGBest government-backed auditors were not independently verifying the bank account balances and were instead using forged documentation provided not by the bank, but by the firm itself.

Sentinel Management Group (SMG)

In August of 2007, Sentinel Management filed for Chapter 11 bankruptcy protection. Investigators found that Sentinel leveraged over $500 million in customer funds as collateral for a loan from Bank of NY Mellon. This loan was used to fund in-house speculative trading. The National Futures Association (NFA) was the auditor of Sentinel, and has admitted to signing off on audits despite not fully understanding the books or the accounting method used. The NFA admits that it didn’t audit SMG properly.

However, what is most frightening is the recent ruling in the Sentinel Management Group case by the 7th Circuit Court of Appeals. The court ruled that the Bank of NY Mellon be placed first in line ahead of customers seeking the return of their money.

“That Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted with actual intent to hinder, delay, or defraud its customers.”
U.S. Circuit Judge John D. Tinder

This ruling shows that not only does the Bank of NY Mellon move to the front of the line, but that using customer segregated funds as collateral is no longer considered a crime, and that co-mingling customer segregated funds with proprietary funds is no longer considered fraud. This ruling implies that customer assets held at a bank or trust are the legal property of any counterparty to loans the depository institution takes.

LIBOR Rate Manipulation

Last summer, Barclay’s Bank admitted that it tried to manipulate the LIBOR during the financial crisis in 2008. This rate is used as a reference for a range of financial products like car loans, adjustable-rate mortgages, student loans and credit cards. During the Barclay’s Bank inquiry it was discovered that many other banks may have also been manipulating LIBOR rates. This means that hundreds of millions of consumers, investors and businesses have been paying a manipulated interest rate.

Guaranteed Retirement Accounts (Nationalizing 401K Assets)

In 2010 the Employee Benefits Security Administration solicited feedback from plan administrators and other fiduciaries on the idea of whether or not they “could or should enhance, by regulation or otherwise, the retirement security of participants in employer-sponsored retirement plans and in individual retirement arrangements (IRAs) by facilitating access to, and use of, lifetime income or other arrangements designed to provide a lifetime stream of income after retirement.” This idea has also been called “Guaranteed Retirement Accounts” and been proposed by Vice President Biden and others in the current administration, with preliminary Senate hearings having been held on this plan in 2010. The core of the proposal is to force IRA and 401K plans to offer an annuity of sorts so participants are guaranteed a return on their assets in perpetuity. The preferred investment asset would likely be United States Treasury notes. As America stares down almost $16 Trillion of debt, conservatively projected to increase to $20 Trillion in 2016, forcing 401K and IRA assets into Treasury notes would be a tempting solution to shore up our nation’s dire financial situation.  In Europe, Poland just confiscated 50% of all private retirement accounts and pensions.

Source:
http://webapps.dol.gov/FederalRegister/HtmlDisplay.aspx?DocId=23512&AgencyId=8&DocumentType=1

As you can see, despite stringent controls that were placed on the financial industry following the collapse of Enron (Sarbanes-Oxley) and the 2008 financial crisis (Dodd-Frank), rampant fraud not only still occurs, but has increased exponentially, and the regulators charged with protecting the investor are either complicit or negligent. When there is a collapse the individual investor cannot find justice through the courts as Dodd-Frank has imparted a statutory “super-priority” to all megabank counterparties that makes recovering collateral from any institution or fund holding derivatives in its portfolio impossible.

I do not feel that my 401K assets are safe at this point and strongly believe that in the event of a collapse of the trustee [NAME OF THE TRUST WHERE ASSETS ARE HELD] I will have no recourse to recoup my investment. At this point I do not have the ability to withdraw any of my assets held by the plan. Therefore I petition you to consider adding an in-service withdrawal option to the [LEGAL NAME OF THE PLAN] that would enable participants like me to withdraw our assets entirely.

Thank you for your time and consideration.
[NAME]
[ADDRESS]
[EMAIL]
[PHONE]

Confirmation from the former Commandant of the US Army War College

Retired Army Major General Robert Scales in his piece from the Washington Post:

“Over the past few days, the opinions of officers confiding in me have changed to some degree. Resignation seems to be creeping into their sense of outrage. One officer told me: “To hell with them. If this guy wants this war, then let him have it. Looks like no one will get hurt anyway.”

Soon the military will salute respectfully and loose the hell of hundreds of cruise missiles in an effort that will, inevitably, kill a few of those we wish to protect. They will do it with all the professionalism and skill we expect from the world’s most proficient military.”

As a former commandant of the War College, Gen. Scales is himself personally responsible for the culture of effeminate capitulation, obsession with power and money, and abject moral cowardice that is the veritable hallmark of the United States military officer corps today.  This pathetic culture has been inculcated in the service academies and military academic centers (US Army War College, Command and General Staff College (CGSC), School of Advanced Military Studies (SAMS), etc.) by a culture planted and fertilized by the Communist infiltrators of the U.S. dating all the way back to the mid-20th century.  If you don’t believe me, just stop and consider how the leading tip of the “politically correct” culture today is the United States military.  Every day it seems there is a new moral outrage involving the celebration of sodomy, the protection of islam and the suppression of Christianity within the US military and service academies.

I erred in my recent interview with Elijah Jonson when I said that not a single man in the US Military was willing to stand up and call out the Obama regime.  LTC Terry Lakin did it.  And Terry spent five months in the Disciplinary Barracks at Ft. Leavenworth.  But beyond that, he lost his pension.  As a Lieutenant Colonel flight surgeon, that loss in lifetime benefits was estimated at over $2.5 million – and that was for a field grade reservist.  I apologize to LTC Dr. Lakin for my mistake.

Military personnel can retire after 20 years of active duty service. A military member who retires at 20 years of service receives 50 percent of his/her monthly base pay. For each year served over 20 years, the military member receives an additional 2.5 percent, up to a maximum of 100 percent of their base pay, at 40 years of service.

Additionally, the base pay used is called “High-3”, meaning that it is the average of the three highest years of the man’s career.  AND a Cost of Living Adjustment (COLA) tied to the CPI (Consumer Price Index) is added to the pay schedule every year.

We are talking about considerable amounts of money, easily into the seven figures for most of these guys, and remember, most guys retire young enough that they can embark on a “second career” and essentially have a double income in middle and/or late middle age.  Corporations are falling all over themselves to have retired Generals sitting on their boards, and those are basically meaningless figurehead positions.

Here is the 2013 pay table.  Scroll down as there are multiple pages.  As you can see, flag officers are generally looking at a five-figure per month lifetime pension.  That is the carrot these guys are all chasing and none are willing to sacrifice (LTC Lakin excluded, of course.)

What’s a man’s price?  Apparently the promise of a five-figure per month pension to be paid out by a cadre of neo-Stalinist oligarchs running a totally and completely insolvent, illegitimate government that likely won’t survive more than a few years, much less decades.

Good luck with that, gentlemen.

True Love is Not Contingent on Reciprocity

Have you ever loved someone who hates you?

If you haven’t, or don’t, then you’re missing out on one of the greatest graces in the earthly human experience.  I’m not sure how one could even begin to understand Christ Crucified if they have never shared in the foundation of His Passion, what I will henceforth call “non-contingent love”.  To look upon a crucifix is to look upon Love, but not just reciprocal love as most people experience it:  I love you, but ONLY IF you love me back.  If you don’t return my love, then I will stop loving you.

That is NOT love.  That is egoism, in all of its narcissistic glory.  And yes, here is where Ayn Rand’s “rational self-interest” gets smashed to dust and why her little world is every bit as disordered and doomed to failure as the Marxist world.

Let’s go through examples that everyone can easily relate to.  First, the love of parents for children.  Infants do not love.  Infants are completely self-centered and are incapable of self-sacrifice for another.  They are totally, completely dependent on others for their survival, and are incapable of feeling or showing gratitude, and beyond that will keep the people who provide for their survival up all night with no thought for their reciprocal well-being.  Any yet… parents love their children.  Grown adults in their prime feel such profound love for these screaming little poo factories that they would without hesitation die in order to save the lives of their children who as of yet do NOT reciprocate their love.  This is a form of non-contingent love.

Even as children grow older and become adults and fall into drugs and crime and perversion, some of whom viciously betray their parents in the process, most parents report that a wounded yet unshakable love always persists.  They can never, ever truly hate or be completely indifferent to their children, no matter how horrific the childrens’ descent and betrayal may be.  Sadly, many children are put on the path to ruin by parents who do indeed inordinately desire reciprocal love from their children and thus do not properly form and discipline the children in their formative years.

Now you might be wondering how this could possibly apply to marriage.  How could spousal love NOT be contingent upon reciprocity?  Isn’t reciprocal love the point in marriage?  Not according to the vows.  Proper, traditional marriage vows actually STRESS non-contingent love between spouses.  For better or for worse, for richer or for poorer, in sickness and in health, ’til death do us part. 

If your spouse comes down with Alzheimer’s Disease and in the early-to-mid stages becomes cruel and hateful toward you (as is not uncommon among Alzheimer’s patients), do you stop loving them?  Once your spouse is incapable of returning your love due to some physical limitation does your love for them then automatically evanesce?  The answer should be “no”.  “Divorcing” a stricken spouse is, of course, morally illicit and betrays the deeply flawed nature of the love between the two when both were in full health.

I heard a very moving anecdote once about a traditional Catholic woman who was stuck in a Novus Ordo parish with, naturally, an extremely poorly educated priest.  As is sadly common these days, the woman’s husband left her out of the blue after 30 years of marriage and took up with another woman.  This woman’s parish priest urged this lady to get an annullment and join the parish’s “mature singles” club and “move on”.  This was the woman’s reply:

Father, I am still married and will be married until the day either I or my husband die.  Just because my husband has chosen to not honor our perfectly valid marriage vows and no longer loves me does not alter the validity and permanence of those vows or my love for him.  Just because my husband has chosen to commit adultery within our marriage, this does not void our marriage and certainly does not give me some imagined “right” to also commit adultery.  I am Mrs. John Q. Smith, Father, and I would appreciate it if you would kindly remember that.

Pow.  While reciprocity in marital love is certainly a wonderful thing, even marital love should NOT be contingent upon reciprocity.

And this brings us to the true manifestation of caritas (charity, or love) in the world.  We must love people in TRUTH and in HONESTY, not allowing our desire for our love to be reciprocated to prevent us from loving in ways that appear or seem “unkind”.  If your toddler child is about to drink from a bottle of drain cleaner, do you not lunge at the child, yelling, and then smack the bottle out of the child’s hand – even though the child will speciously perceive your actions to be “mean” or even “violent” and then cry in anger at your reaction, which was borne completely on love?

In the same way, do we not tell the drug addict, the sodomite, or anyone else engaging in physically and/or spiritually lethal behavior that what they are doing is wrong and it is imperative that they stop even if that admonition means a reduction or elimination of their esteem for us?  How is their reciprocal esteem for us even relevant at that point?

True, non-contingent love yields honesty.
False, narcissistic love is a seedbed of lies and manipulations.

We cannot properly understand Christ’s admonition to “turn the other cheeck” unless we understand non-contingent love.  “Turn the other cheek” does not mean that we must allow evil and lies to run unchecked.  “Turn the other cheek” does not mean commit de facto suicide before stating harsh truths, and this includes imposing justice, which is itself a fully-enclosed subset of Truth.

“Turn the other cheek” means that we do and say what we must in true charity, and then KEEP LOVING even when our love is returned with a blow, be it physical or emotional.  The emotional blow can be either in the form of hatred, or in the form of indifference.  The point is, the more you love someone in truth, the more likely it is in this fallen world, and particularly this day and age, that your love will NOT be reciprocated, and then *THE MORE YOU MUST LOVE THEM* with no expectation or demand that they ever love you back.

Given all of this, consider our current political and social system.  Is our culture not totally contingent upon reciprocal esteem and quid pro quos?  Is not every word and every action measured by the amount of popularity it generates, with power and wealth coming behind as corollaries?  Is the need to be “liked” not central to most people’s existence?  No one will do the right thing or stand up for the truth because to do so would mean public scorn and ridicule, followed by loss of wealth and property, and THAT is the worst possible outcome according to this horrificly perverted culture.

Oh, it hurts.  It hurts, it hurts, it hurts.  It hurts when your beloved is indifferent toward or hates you.  But think of how Christ feels, and then realize that YOU are the one who callously and maliciously refuses to return His love with every sin and every ingratitude.  Then realize that He still burns with unquenchable love for you, and use that realization to turn around and love others without requiring or demanding reciprocity.

He told us.  Repeatedly.   He told us that we would be hated by the world.  He told us that we would be persecuted, both in macro contexts and in little ways in our individual day-to-day lives.  And then He showed us by dying for us at our own hand, never for a second depriving any of us of our freedom to choose our own actions or whether or not to Love Him.  Only tyrants demand reciprocal “love”, which is no love at all, and is at its core, extremely cowardly.  Be brave.  Love.  Ferociously.  And when your love is not reciprocated, persevere, love more.  That’s how you know it’s genuine.

 

 

Starting Sunday Off Right

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.

St. Nicolas.  Wielder of assault weapons and righteous puncher in the mouth of heretics.  Sigh....

St. Nicolas. Wielder of assault weapons and righteous puncher in the mouth of heretics. Sigh….

To All My Cattle People

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.

China just bought Smithfield.

No bacon for you, Gweilo.

On Poland and Detroit. Not For the Faint of Heart.

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.

RetirementFunds

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.

deriv-risk

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.

A Little Newman via Jesse

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.