Army refuses to provide Honor Guard for church's July 4th celebration

Courtesy of Abilene Baptist Church

For nearly two decades, the U.S. Army has provided an honor guard for an Independence Day celebration at a Baptist church that predates the founding of the nation. But this year – that tradition has come to an end.
Officials at Fort Gordon say they will not be able to send an honor guard to a July 5^th service at Abilene Baptist Church because it violates a military policy banning any involvement in a religious service.
“While there are conditions under which the Army can participate in events conducted at a house of worship, we cannot participate in the context of a religious service,” Public Affairs Officer J.C. Mathews told me.
He said officials at Fort Gordon as well as the Office of the Staff Judge Advocate reviewed the church’s request and determined they were in fact holding a “religious service.”

So it’s OK to invite the troops so long as you don’t pray, talk about Jesus or read the Bible?

“As a result, the Army is not permitted to take part,” Mathews said.
That policy would be an offense to most churches in America – but it is especially offensive when you consider the Army just refused to provide an honor guard for a church whose first pastor was a chaplain in the Revolutionary Army.
CLICK HERE TO FOLLOW TODD ON FACEBOOK FOR PITHY CONSERVATIVE CONVERSATION!

Abilene Baptist Church was founded in 1774 – one of Georgia’s most historic churches and the second oldest in the state. The founding pastor was arrested by a colonial magistrate for “preaching in Georgia” and the first pastor, Reverend Loveless Savage, was a chaplain in the Revolutionary Army.
“It was an absolute shock,” said Brad Whitt, the current pastor of Abilene Baptist Church. “What a sad commentary on the state of affairs in America – when we cannot even allow the flags to fly if they are in a church building.”
“We’ve had a tremendous working relationship with the fort,” he told me. “We’ve hosted all sorts of events for military families. We really try to show our love and respect and we try to honor our military folks.”
The July 5^th church service is scheduled to be a “God and Country”-themed celebration with patriotic music and lots of red, white and blue. Afterwards, the church is hosting a Sunday picnic – complete with hot dogs and hamburgers. And for the sake of full disclosure, I’ve been invited to speak at the church service – as well as eat a hamburger afterwards.
Pastor Whitt said they were genuinely confused by the Army’s slight – seeing how Fort Gordon has been providing an honor guard for the past 20 years.
“They have participated for the past two decades and now they are saying – no,” he said. “This is just another example of the secularization of America.”
The church sent me photographs of the honor guard on the main platform of the church in 2007 and 2010. Last year, the church held their service in a local park – and once again – the military sent an honor guard.
So what changed?
Fort Gordon’s Public Affairs Office pointed me to Army Regulation 360-1 – dated May 2011.
The lengthy regulation states Army participation must not selectively benefit (or appear to benefit) any religious group. It also mandates that Army Public Affairs not support any event involving the promotion, endorsement or sponsorship of a religious movement.
According to public affairs, the 2007 church service was designated by the military as a “non-sectarian musical and patriotic program.”
According to the military’s calculations, 80 percent of the program was musical and the other 20 percent included narration and other patriotic elements.
“Because this was not a religious service, our participation was permitted,” he said.
He said the key is not whether the event is sponsored by a religious organization or held in a house of worship.
“Instead, the key factor is, whether or not the event is an actual religious service,” Mathews said.
So it’s okay to invite the troops so long as you don’t pray, talk about Jesus or read the Bible?
LISTEN: Todd’s interview with American Family Radio
“That’s what makes this so sad,” Pastor Whitt told me. “This is what we’ve come to in our nation – where even just representing the colors is some sort of political thing.”
While the Pentagon won’t allow an honor guard to set foot in a church, they have no problem allowing them to march in a gay pride parade.
Last year the Department of Defense gave permission for an honor guard to participate in Washington, D.C.’s gay pride parade – a historic first. An honor guard is also expected to march in the 2015 Capital Pride parade.
So if a military honor guard can celebrate gay pride in a public parade, why can’t they celebrate American pride inside a Baptist church?

The Satanic Temple to unveil 'Baphomet' monument in Detroit

• Courtesy photo

Atheist activist group The Satanic Temple is apparently making good on its mission to erect a statue of Satan, intended for an ultimate destination next to the Oklahoma State Capitol's monument of the Ten Commandments. In fact, TST plans to unveil the completed statue for the first time in Detroit next month.

Why Detroit? Last year, the group chose Detroit as the location for its first national chapter house. "Detroit is our first and primary chapter," spokesman Doug Mesner says by email. "We feel at home in Detroit."

The group of culture jammers pushes for a separation of church and state by distributing Satanic literature and fighting to be included alongside displays of Christianity on state grounds. Last year, the group erected a small temporary holiday display on Lansing's Capitol lawn when it was announced that a Nativity scene was being proposed for the location.

The finished Oklahoma sculpture depicts "Baphomet," Satanism's winged, goat-headed icon. In a press release, TST calls the bronze monument — which weighs one ton and stands at nearly nine feet tall — "already the most controversial and politically charged contemporary work of art in the world."

While Oklahoma's Ten Commandments statue was destroyed last year after being run over by a car, it was swiftly replaced in January. Meanwhile, the group's request to place the Satanic monument on the same grounds has not been granted. Mesner tells us that the Satanic Temple is currently gearing up for a lawsuit against Oklahoma; it is expected to be officially filed before the unveiling event.

In the meantime, the statue will get an unveiling party on Saturday, July 25 at Bert's Warehouse Theatre on 2739 Russell St. in Detroit. The party starts at 9 p.m. Tickets are $25 and $75 for VIP and available for purchase online.

VIP ticket holders get an exclusive opportunity to be photographed with the statue, receive a limited edition poster, and "an opportunity to meet and greet with TST Executive Ministry," according to a press release. "Cocktail attire" is encouraged — "dress to impress the devil."

THE "LEGAL" REASON WHY THE CABAL, THE FED AND THE MILITARY <(BAD MILITARY) WANT CONFEDERATE FLAG DESTROYED....

THIS INFO NEEDS "REPEATING"

THERE IS USUALLY ALWAYS MORE, AN UNDERLYING REASON,  AS TO "WHY" THINGS THAT APPEAR TO BE TOTALLY NOT RELEVANT.. ARE ACTUALLY "FRONT AND CENTER" AS PART OF THEIR CONTINUING TAKE DOWN OF AMERICA  AND IT'S PEOPLE...

READ THIS AND THE "HIGHLIGHTED" PARAGRAPH  (BELOW) SEVERAL TIMES UNTIL YOU FULLY UNDERSTAND IT.

====

Monday, June 29, 2015

WTF is going on with the Confederate Flag by One Pissed Off American

Everyone is wondering about all the hoopla about the Confederate flag and coming up with some interesting thoughts as to why.  One thought is to keep the division going and cause stifle. Another is that it is a distraction, etc…

How the Fed and the Cabal work, it is both of those plus I believe another important item that the public is missing because of the revisionist history and this nations “wonderful” public school system (and yes I am being sarcastic) – that the Confederate flag is the valid flag of an occupied nation that has never signed a peace treaty with the Union to end the Civil War.

If the symbol of this occupied country is destroyed and removed from public view, then the Fed, Cabal and Military will not have to sign a peace treaty to officially, legally and lawfully end the Civil War; the South’s occupation; and thus ending the Liber codes (General Order 100) which has enslave the public of both the Union and the South for 150+ years.

What does this mean to you and I? No need to have a war declared or continued every 2 years to justify maintaining a standing army, which takes a huge chunk of change out of the federal budget. States have their own rule back according to the 10^th Amendment of the Bill of Rights. Greatly reduced need for attorneys, since under Liber Code they are needed to deal with the general population on legal matters. The  real organic Constitution is awaken out of suspended animation and the final nail can be put
in the coffin of the defacto Corporate den of thieves that have been representing themselves as our government, when in fact they are the occupiers and jailers
of this country.

Noodle this around and do your own investigating and research. Obliviously the Fed and their cronies have after reading my stuff and others and by their actions, what they discovered scared the shit out of them. The Fed and the Cabal don’t want to lose their money and power, so remember always ask, who ultimately benefits by gaining or maintaining money and power, and you can usually figure out why the they are doing a certain action.

Boehner Got $5 million, Ryan $2 Million, McConnell $9 Million – Any Doubt Why TPA Passed?

June 30, 2015

tags: Mike McCarthy, paul ryan, Rep Bob Goodlatte, senate, Speaker John Boehner

Rick Wells
6/29/2015
Source …..

The politicians like to keep the money trail brushed as clean of their footprints as possible, to make it less blatantly obvious that they are exchanging votes for “campaign” cash. Money talks in DC. In our current government it is the only language other than Orwellian double speak which is understood.
John Boehner, Paul Ryan, Mike McCarthy and other House members did quite well for themselves financially in the pursuit of their corporate masters’ dreams of overthrowing the United States government.
Anyone who wonders how millionaires or billionaires are made on a Congressional salary can get some good insight from this information, published by Maplight.org.
In the instance of H.R. 1314, the legislative vehicle for moving Obamatrade, from the period of October 1^st of 2012 to September 30^th of 2014, the amount of “potentially” influential financial contributions heaped upon the largely unscrupulous members of Congress in both chambers was nothing short of obscene.
Contributions from pro-Obamatrade lobbyist alone were enough to make very wealthy people of those who are supposed to represent the citizens, and the period of time immediately preceding the vote, that between October 1^st of last year and June of 2015 is still unknown. Certainly the pot was “sweetened” considerably more as the deadline drew nearer.
Contributions to House members from forces favorable to Obamatrade outnumbered those from those opposed by a factor of 8.6 times, $197,869,145 to $23,065,231. The differences were even more stark in the Senate, with a total of $285,225,162 in financial incentives being meted out from supporting groups and only $27,569,149 from the opposition, over ten times as much. There were 32 House members with over a million dollars in contributions and many who were just below that threshold. In the Senate, only five Senators were below the one million dollar mark, and two of those, Senator Jeff Sessions (R-AL) and Mike Lee (R-UT) voted no, and against betrayal of their country.
The formula in the House seems fairly simple, at least as far as rewarding those in leadership positions. Speaker John Boehner (R-OH) got a cool $5 million and change, Mike McCarthy (R-CA) half that at $2.4 million, and Steve Scalise (R-LA) half again at $1.2 million. For Paul Ryan, the price of American sovereignty was $2.2 million.
Rep Bob Goodlatte (R-VA) was a member of the million dollar club at $1,053,646. Jeb Hensarling (R-TX) collected $1.4 million, Cathy McMorris Rogers received (R-WA) $900,732 and Mike Pompeo (R-KS) $949,708. Pete Sessions, House Rules Committee chairman, was compensated to the tune of $1,057,079, with his fellow Texan, Lamar Smith picking up $608K. Marsha Blackburn (R-TN), who fought against illegal immigration, we thought, during the amnesty battle, received $700,687 and voted for uncontrolled immigration and the usurpation of domestic American rule.
Financial gain doesn’t appear to be the only reason behind surprising anti-American votes in favor of the three secret bills, a dictatorship and foreign control of our nation. Disappointing betrayals by supposed champion of conservatism, Steve King (R-IA), who received only $382K, Jason Chaffetz (R-UT) $358K, and Trey Gowdy at $305K still don’t make sense.
In the Senate the picture is even uglier, and much more blatant. Mitch McConnell (R-KY) “acquired” $9.2 million, John Cornyn (R-TX) $5.3 million and Orrin Hatch $4.2, the third member of the Senate trio of traitors forcing this upon us.
Marco Rubio pocketed $3.9 million for voting to tie us to a bill he never read, with his fellow presidential candidate Lindsey Graham “earning” $3.4 million. Candidate Rand Paul (R-KY) voted against the package both times it came up in the Senate. Ted Cruz (R-TX) first voted in favor of it but was eventually forced to recognize the will of the people in the interest of the survival of his campaign and cast a meaningless vote once the debate and outcome was determined.
It is clear that money talks, and the people can take a hike. Once the numbers come in for the current year, it will be interesting to note just how much influence was purchased in the last days and weeks leading up to this betrayal. While nobody in the Senate is stupid enough to admit that their vote was purchased or influenced by being handed the equivalent of a mansion or a lifetime of earnings for most Americans, neither are we stupid enough to believe that a pattern of corruption doesn’t exist.
We were sold and our “representatives” were purchased. It’s that simple.
Statistical Source – Maplight.org
More stats …..

Bob Goodlatte (R-VA) and Barbara Comstock (R VA 10) were members of the million dollar club.
Both received $1,053,646 for their yes votes.

Robert Hurt (R VA 5) received  $545,954 for his yes vote

Scott Rigell (R VA 2) received  $397,998  for his yes vote

Gerry Connolly (D VA 11) received $397,305 for his yes vote

Randy Forbes (R VA 4) received $363,323 for his yes vote

Morgan Griffith (R VA 9) received $325,004 but still voted no
Rob Wittman (R VA 1) received $313,100 but still voted no
Bobby Scott (D VA 3) received $150,950 but still voted no
Dave Brat (R VA 7) received  $96,630  but still voted no

!!!!! Native Americans Say “No” to Gay Marriage

In the cultural battle over “same-sex” marriage, one of the American groups overlooked in the debate is the Native American population.  Organized along ancestral tribes, these groups form a diverse, yet significant portion of the U.S. population.
Native American tribal leaders have discussed the issue of “same-sex” marriage at length over the past several years as the debate has raged in America.
Where many of them have come out on the matter is sure to make liberals howl.

CNS News reports:

Tribal laws of the two largest Native American tribes in the United States prohibit gay marriage, as do the laws of nine other smaller tribes.
The Navajo and Cherokee Nations, the first and second largest tribes respectively, together have about 600,000 members. The nine smaller tribes that ban gay marriage have another 350,000 members. These tribes all either define marriage as between a man and a woman or explicitly prohibit same-sex marriage, according to the Associated Press (AP).
Since 2011, six of the eleven tribes revisited and upheld their preexisting legal definitions of marriage as between a man and a woman, AP researchers found.

It will not matter what the Supreme Court decides on “same-sex” marriage.  These tribes have their own sovereignty as CNS News reveals:

Due to their status as sovereign nations, these 11 tribes will not need to change their marriage laws, which govern nearly one million tribal members, even if the Supreme Court legalizes gay marriage later this month.
If the court’s Obergefell v. Hodges ruling determines that same-sex couples have a constitutional right to marry, Native American bans on gay marriage will remain in effect because federally-recognized tribes have the right to establish their own laws and are not subject to the U.S. Constitution.

These Native American tribes have thought through this issue and their statements are clear, concise, and legally binding as CNS News explains:

For example, the Cherokee Nation Marriage and Family Protection Act of 2004 defines marriage as “a civil contract between one man and one woman” and states that “no marriage shall be contracted…between parties of the same gender.”
Title 6 of Chickasaw tribal law states that “a marriage between persons of the same gender performed in any jurisdiction shall not be recognized as valid and binding in the Chickasaw Nation.” However, the law notes that it does not prohibit “members of the same sex from entering written contracts” with one another.
Many other tribes remain neutral, AP reports, neither taking steps to officially recognize gay marriage nor changing the wording of their marriage laws to include or preclude recognition of same-sex couples.
However, the legal language for some of these neutral tribes makes reference to heterosexual couples by use of such phrases as “husband and wife,” “a man and a woman,” and “unmarried male and…unmarried female.”
For example, the Northern Cheyenne Uniform Marriage and Divorce Act defines marriage as “a personal relationship between a man and a woman arising out of a civil contract to which the consent of the parties is essential,” in which spouses “take each other as husband and wife.”
To date, such laws have not been applied to same-sex couples.

The question, at this point, is whether homosexual rights bullies will eventually set their sites on these Native American tribes as they have done to various Christian businesses around the nation. It is doubtful such challenges could be successful.  But, that may not stop these extremist radicals from trying to foist their “gender confusion” onto Native Americans as well.
Native Americans have endured far worse in their past and survived.  They will probably overcome this threat to their way of life as well.

US Supreme Court Decisions Optional?

We The People, Sheriffs, and Larry Klayman,

When US Supreme Court decisions are optional for the Law Enforcement to make a personal decision on them, or they don't even know if they are legit if the individual brings it up, then where will the recent one on Gay Marriages stand?

Will it be that Pastors can be and will be arrested by Law Enforcement for not performing the Gay Marriage as it is discrimination as the Law Enforcement is mandated to follow the US Supreme Court decision?

While looking at numerous videos on the internet of what police, prosecutors, and Judges do they do ignore possibly 50% of the time of what the US Supreme Court decisions are or they just want the person arrested to get the funds coming thru the system for the courts to make even more money.

If you look at the video below you can see that the police officer did not comply with the policies, laws, and most likely US Supreme Court decisions that required Law Enforcement to not over step their bounds and not assault the arrested person, and this was at least the 2nd time for this officer.

People are arrested for not identifying themselves for just being out in public with a video camera as that is the 1st Amendment, and even filming police which the US Supreme Court decision said it is legal and lawful to film police and local laws to NOT supersede these decisions.

If this were the case that local and state laws supersede US Supreme Court decisions, as well as the US Constitution, then the States do not have to follow the recent Gay Marriage court decision, but if it were mandatory to follow the decisions then ALL arrests made on the people for filming police, not showing their ID when not under arrest, and not being allowed to open carry a firearm per the 2nd amendment and the State laws then there needs to be major removals of Government officials for approving the non-compliance of US Supreme Court decisions.

If it came down to a federal lawsuit on a city and their police for violating an individuals rights per US Supreme Court decisions with that individual winning the case and the city and their police have still failed to comply with those decisions with other people then those Government officials need to be removed.

If most ID checks per the Law Enforcement point of view is to verify for any warrants or illegal activity on that person then maybe it is in the best interest to go door to door on every household, or stop ALL people on the sidewalk and check their ID as well as pat them down for any weapons, but even if NO weapons that have ever been used in a crime can be brought into a building then a businessman wearing a necktie has committed a crime as it is very easy for anyone to walk near the man and grab that tie.

I would say at this point in time then there should be Anarchy as everyone is to be believed as being a criminal.

Video: Maniac Cop Straps Handcuffed Man To Chair And Tortures Him For “Resisting”
http://www.infowars.com/video-maniac-cop-straps-handcuffed-man-to-chair-and-tortures-him-for-resisting/
Officer pleads guilty to third-degree assault, had history of using excessive force
 by Steve Watson | InfoWars | June 30, 2015
Watch Video:

Dan

THE "TRUTH" about 'ORGANIC" and "CERTIFICATION"...<<< MORE DECEPTION -- MUST READ !!!!

THIS INFO IS "SICKENING".... READ SLOWLY AND DIGEST IT THOROUGHLY... 

 

The Truth About "Organic" And "Certification"

6/23/2015

 

When Words Are Used To Deliberately Mislead, And The Agencies Who Are Supposedly In Charge Of Insuring That Products Are Safe, Are Actually Controlled By The Corporations They Are Purportedly  Monitoring....

It is a sad state of affairs when a person can no longer trust any government agency to give them the truth about what is "safe" in any products that we are spending our money on  for our families.

The unfortunate truth is that ALL of the so called government(s) watch dog agencies are doing nothing to protect our families from the corruption that is rampant in the "Organic"  and "Healthy Lifestyle" companies.   Sadder yet is the fact that not only are these purported "safety agencies" NOT enforcing truth in the labeling of all the products that we thought were "healthy" or "good" for us, these same agencies are some of the very bullyboys who have forced truly "Organic" companies to bow to their pressure and deliberately pollute their products with GMOs (Genetically Modified Organisms), and chemicals. They have led the way to deliberately change the meanings of certain words used in advertising, such as:

"Organic"  & "Pure"

The FDA is a prime example of how language in labeling has been severely warped, and has led the way for lawyers to set precedents in court rooms that has now giving the green light for any company to use these words when in fact their products are not "Organic" nor "Pure".

There is currently a major battle going on in the USA in this arena.  Lobbyists for mega corporations like Monsanto (and their front companies) are paying huge sums of money to convince Congress to NOT force companies to label products that contain GMOs as having.... GMOs!   And when major players in the FDA are former Monsanto executives.... is that not a conflict of interest?

According to the United States Food and Drug Administration (FDA), its responsibilities include “[p]rotecting the public health by assuring that foods are safe, wholesome, sanitary and properly labeled.”  This responsibility entails regulating a large number of companies producing the nation’s food, making appointments to the high-level positions within the agency very important.

    "Over the past decades, at least 7 high-ranking employees in the FDA were employed with Monsanto."

Most high-level FDA employees have a background in either medicine or law, but one of the largest private-sector sources is the Monsanto Company. Over the past decades, at least seven high-ranking employees in the FDA have an employment history with the Monsanto Company.

http://ivn.us/2013/02/11/the-revolving-door-fda-and-the-monsanto-company/

Monsanto Controls both the White House and the US Congress
http://www.globalresearch.ca/monsanto-controls-both-the-white-house-and-the-us-congress/5336422

The FDA has recently pushed through legislation to allow companies to use the word "Organic" even if the product contains GMOs.   This has directly created a legal loophole for companies to put the word "Organic" on their labels, even when the product is not even remotely organic.  The same legal precedents have been set with descriptive words such as "Pure" and "Fresh" and "Natural".

I personally went toe to toe with an advertising executive from a very well known "Natural" products manufacturer, when I discovered that "Pure Aloe Vera", did NOT mean that the product contained PURE ALOE VERA.  His response ?  "Well.... the aloe vera in our products is pure, it's not fake, so therefore we can advertise it as "Pure"."      Now, just about every beauty and skin care product, and even "health" food products can have the words "Natural", and "Pure", and "Fresh", and yes, even "Organic" on their labels, knowing that they now have the legal ability to twist the meanings of those words.

We now live in a consumer environment where it is up to us to investigate everything ourselves.   If you really want to know what is in your shampoo, your skin cream or even your baby wash, I highly suggest you spend some time reviewing the "Skin Deep Database".  This data base is an excellent tool to decipher what's on your labels, what is actually IN your products and the information about the side effects, risks, and toxic background on every single ingredient.

As I wrote in the "Argan Oil" page here on Our Gaia's Gardens, the sad truth is that because Argan Oil has become very popular and is considered a "trending product", the vast majority of products that proclaim to contain "Argan Oil" contain amounts so small, and are contaminated with so many chemicals and perfume pollutants, that any health benefit that may have come from the Argan Oil, is diminished to almost zero.

The Argan Oil industry itself has also become rife with advertising corruption,  with impure Argan Oil, cut with mineral, corn or soya oil, being sold as "Pure".  Remember: all they have to say is that the Argan Oil in the product is "Pure"  and then they can call it "Pure Argan Oil".  Beware the twisting of words!

I have been a political activist in the arena of Maternal & Infant Health for over a decade,  and been very involved with many aspects of Natural Healing, through Aromatherapy, Herbal remedies, Acupressure, Massage Therapy and Energetic healing (Reiki and Therapudic Touch) for over 20 years.  Through my work, I have researched all of these aspects of corruption and fraud in the various "Watch dog" agencies of many governments.   I have been involved in several movements and organizations fighting against the Corporatization of Agencies who's jobs are purportedly to protect the public and the consumer.  The legal structures that have been set in place, in America, Canada, the UK, Australia and the EU pretty much guarantee that the corporations are allowed to put almost anything they want into a bottle and then label it with misinterpreted and twisted words, to fool the public into thinking they are buying some thing they are not.

And so..... when it comes to "Certifications of pureness" and "Organic certifications", I place almost zero respect  in any stamp or fancy paper.   Having said that,  the Women's Cooperative where we obtain all of our Moroccan Oils (Argan and Essential), is fully certified by these agencies.  The Argan Oil has the "Eco Cert" stamp of approval, and is Certified to be 100% "Organic" (which really is a joke as there is no such thing as GMO Argan Oil, and none of the Argan trees are sprayed with pesticides because they do not need it!).   But more importantly, all of our oils have MY Stamp of Approval.  For me, that is the highest level of "Certification" I can ever bring to my customers, because I can guarantee that I am WAY pickier and WAY more conscientious than ANY Government Agency.

The products I make, are used in our house every day by my children and all of our family.

Fund Manager Warns Puerto Rico Default May Trigger A “Black Swan” Derivatives Melt-Down!!!

Posted on June 30, 2015 by The Doc

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It is highly probable that the crashing stocks of MBIA, AMBAC and AGO are the alarm bells of a black swan landing. And, of course, no one has been talking about them…. until today.  
Although these firms are somewhat obscure and small compared to the size of the majority of financial companies, they are highly leveraged with massive off-balance-sheet liabilities for which they have zero hope of covering in the event of even relatively small bond defaults.   In other words, these firms are the ones most likely to set off the next financial collapse triggered by their counterparty defaults.

Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics:
I really had not been paying much attention to the Puerto Rico debt situation.  After all, $72 billion in debt that might go bad – big deal.  The Fed can print up $72 billion in credit lines with the push of a button.
But a friend of mine happened to mention to me today (Monday) that MBIA’s stock was down over 23% and Assured Guaranty’s stock was down over 13%.  That woke me up.

MBI guarantees $4.5 billion in par amount of Puerto Rico muni paper.  As of it’s latest 10-Q (March 31, 2015), MBI showed a book value of $3.9 billion. Puerto Rico alone could more than wipe out MBI’s net worth.  But that’s only a portion of the story. The bigger part of the story is buried off-balance sheet in the footnotes in opaque financial structures called Variable Interest Entities (VIE’s). Remember those from 2008?  I remember them vividly.
The VIEs are the off-balance sheet vehicles that triggered the massive chain of counterparty defaults which de facto collapsed the U.S. financial system in 2008.  The VIEs are where the credit default swaps and other nebulous forms of OTC derivatives bet slither around.
Companies like MBI and AMBAC underwrite  credit “enhancement” guarantees on these massive cesspools of debt – and the associated derivatives that are “wrapped around” the debt structures – and stick them in VIEs.  MBI’s 10-K has several pages of footnotes which vaguely describe the contents of its VIEs.   The problem is that MBI and its ilk are thinly capitalized relative to the potential size of the liabilities they face if the credit markets become volatile to the downside.

Toxicity plus toxicity does not equal purification.  But VIEs that contain off-balance sheet debt and derivative guaranteed equals toxicity cubed, at least.   In other words, whatever MBI lists as its “net” credit exposure in its financials, take that number and, at the very least, triple it.
But wait, the story gets even better.  As it turns out Warburg Pincus, one of the loftiest private equity firms on Wall Street,  is by far MBI’s largest shareholder.  Warburg announced a little over five weeks ago that it was going to unload 60% of its stake via over the counter negotiated sales – LINK.   The firm has been unloading these shares since May 18th.  We won’t know how successful this effort has been until the selling is completed.
Does Warburg Pincus sound recently familiar?   It’s the firm that hired “Turbo Tax” Tim Geithner shortly after he left his post as Treasury Secretary.   Remember, Geithner was head of the NY Fed at the time of the 2008 financial collapse.  In other words, he knows where a lot of the bodies in the financial system are buried.  I have no doubt that Geithner has played a significant role in advising Warburg on the need to unload its exposure to MBIA.  Anyone who takes the other side of this trade is a complete idiot.  
But this story isn’t just about MBI.  It’s about the companies that, along with MBIA, provide “insurance” for bonds and derivatives.  These firms have assumed potential liabilities that dwarf their ability to cover them.  Not just in the worst case scenario.  I believe Puerto Rico’s financial demise could trigger the dreaded financial nuclear daisy chain of counterparty defaults.
The problem with creating “actuarial” payout models for insurance guarantees on financial assets, and this especially true for derivatives, is that the outcome is pretty much binomial.  Either the assets pay off or they become worthless or near worthless.  Furthermore, with the extreme degree of Central Bank intervention, which has enabled literal financial zombies to continue living and has enveloped the entire financial system with opacity, it’s impossible to model in expectations on, and potential sources of, counterparty default risk.  It’s like lightening.  It can unexpectedly strike anywhere – just ask Hank Paulson and Goldman Sachs…
This is exactly what occurred in 2008.  Only this time around the problem is significantly greater than it was in 2008.  Global debt and gross derivatives outstanding are much bigger than in 2008.   And, except for the Plan B hyperinflation of the money supply, Central Banks are out of bullets.
I believe it is highly probable that the crashing stocks of MBIA, AMBAC and AGO are the alarm bells of a black swan landing.  And, of course, no one has been talking about them until today.  Although these firms are somewhat obscure and small compared to the size of the majority of financial companies, they are highly leveraged with massive off-balance-sheet liabilities for which they have zero hope of covering in the event of even relatively small bond defaults.   In other words, these firms are the ones most likely to set off the next financial collapse triggered by their counter-party defaults.

OFFLINE - PENTAGON ADMITS TRUTH ABOUT EMPs

OFFLINE - PENTAGON ADMITS TRUTH ABOUT EMPs

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miltoncare@aol.com	11:11 AM (12 hours ago)
to me G. Edward Griffin ge.griffin31@gmail.com Thursday, June 18, 2015 3:33 AM OFFLINE - PENTAGON ADMITS TRUTH ABOUT EMPs   2015 June 18                                 from G. Edward Griffin   The documentary, Offline, now is online for viewing by Unfiltered News subscribers, and the closing date has been extended to June 30 "Pentagon finally admits the truth about EMPs" (1) "Texas Senator, Bob Hall, says his bill to protect the grid was defeated by power-company lobbyists"  (2) If you are new to Unfiltered News, these recent headlines may need explanation to appreciate how incredibly important this topic is. If you already know about it, you can skip the following text window. However, even if you have read our previous reports, I urge you to take a moment to review. It is hard to imagine anything more important. If you are in a hurry to see the film, you can skip to the bottom of this page and click on the link ... but please came back and help us get this message to the world.   The topic of this documentary is about as serious as it gets: the possible end of civilization as we know it. That is not hyperbole or scare mongering, but the sober evaluation of analysts from many scientific disciplines. However, it's not just another end-of-world horror show. It's about what needs to be done and can be done to avert this outcome.  X-CLASS SOLAR STORMS We are talking about the probability ‒ astronomers call it the inevitability ‒ of the Earth being slammed by a mega solar flare. This is not the kind we read about in our newspapers every few months that interrupts communications and creates light shows in the Northern skies. We are talking about their big brothers that are hundreds and even thousands of times more powerful. These monsters deliver enough electromagnetic energy to completely blow apart the master transformers at generating plants that supply the planet's energy grids. If that happens, the lights go out and stay out for longer than anyone wants to even think about.  It takes about two years to build and deliver one of those transformers (about the size of a small house) ‒ and that's assuming the manufacturers themselves have electrical power, which is a questionable assumption. If hundreds of these transformers were destroyed at the same time, it could be at least twenty years before the grids becomes operable once again. Twenty years without electricity!   Imagine the chaos that would ensue ‒ no light, no water from pipes, no appliances, communications, gas pumps, transportation, food in grocery stores, fire-fighting, banking services, medical services, police protection ‒ you get the idea. It has been estimated that eighty to ninety percent of the population, especially in cities and towns, would perish.  Fortunately, these high-end X-Class solar storms don't hit the Earth very often, only every 150 years, on average. But unfortunately, the last one arrived 156 years ago, which means that, statistically, we are overdue.   THE CARRINGTON EVENT When the last one occurred ‒ it was called the Carrington Event ‒ power grids did not exist. However, the telegraph was coming into use then. The energy from the Carrington Event was picked up by telegraph cables, fried the wires, burned some of the poles, and set fire to equipment. The electronics in modern power systems are much more delicate than in telegraph systems, and multi-million-mile expanse of wires in today's power grids constitutes a more efficient antenna system to capture electromagnetic energy. It is the understatement of the century to say that we have been warned.   "It would literally paralyze all the United States, not just for a day or an hour, but for months to years." ~~ Michio Kaku, Professor of Theoretical Physics, City College of New York "Severe geomagnetic storms have the potential to cause long-duration outages to widespread areas of the North American grid." ~~ North American Electric Reliability Corporation and the US Department of Energy, High Impact, Low Frequency Event Risks to the North American Bulk Power System (June, 2010) Summary: Eventually, possibly within the next decade, Earth will be hit by a solar burst that will knock out the world's power grids for months or years. ~~ Severe Space Weather Events: Understanding Societal & Economic Impacts, December 2008, National Academy of Sciences in collaboration with NASA HOW NAIVE WE WERE When we began research for this documentary we naively thought it was our mission to inform government and industry leaders about the need to protect the grid, but we were in for a shock. After further research, we discovered that everything we were hoping to bring to the attention of these people was already known to them. The public may have been in the dark (pun intended, but government and industry officials have known about this for nearly two decades. In fact, we learned that some of them have taken steps to insure that they will survive what they consider to be an inevitable apocalypse, but they are doing very little to protect the rest of us. PRETENDED PREPAREDNESS The second shock was to learn that the same damage could be caused by the detonation of an EMP weapon in space and that many of the people who are responsible for protecting the grid from solar storms and EMPs publicly pretend that there is nothing to worry about. This documentary shows that such assurances are not even close to the trut h, and that pretended preparedness has become the most serious as pect of the problem. If those we trust to protect us are trying to cover up their failure or even if they are just trying to avert public panic, either way we are woefully unprotected ‒ while our rendezvous with the sun (or an EMP) is inexorably approaching.   There have been numerous documentaries and books on the vulnerability of the power grid, but all of them have uncritically accepted the assumption that government and industry are doing everything possible to protect us. No one has had the courage to challenge that assumption ‒ until now. OUR GOAL The purpose of this documentary is to create the momentum necessary to require retrofitting the master power transformers that supply the grid with protective devices, which currently are available at reasonable cost. To accomplish that, the public must be informed, governments must be compelled to stop pretending preparedness, and executives of utility companies must find the courage to speak the truth to their stockholders so they can fund the necessary retrofits ‒    and do it quickly.   WE ARE AT THE FINISH LINE FOR THE DOCUMENTARY Our goal is to release this program with sufficient image and sound quality to be suitable for theatrical and TV distribution. Patrea Patrick (our Producer and Editor) also has worked hard to prepare it for entry in film-festivals and Academy-Award competition. These efforts are aimed at reaching the largest audience possible. Even though the program is complete, it would benefit from color-correction to make all scenes consistent, re-mixing and equalizing music and audio, and purchasing the rights for several video clips taken from commercial sources. It would be a shame to have to delete these from the program. You probably have figured out where this is going. We are out of money to do these things, and we need your help to complete the mission. The production is funded by donations, and we are deeply grateful to those who already have generously supported this effort, but now the fund is empty just as we come to the finish line. So far, we have received $21,800 in donations. That is far short of what we anticipated, and it is a tribute to Patrea Patrick that she was able to accomplish so much for so little. When we started, we felt that we needed about $60,000 at a minimum, but Patrea brought it all together with what we had. She has worked tirelessly for almost a year, without compensation, to complete the program ‒ but now she must stop unless we can cover the cost of these final expenses. Please join with Patrea and me and the many others who already have donated to make Offline possible. Here's how you can help: Angels* donate $200 and receive a DVD autographed by the producers. Angels' names will appear on-screen at the end of the film. *Our Angels are not Hollywood investors but just common people who care about their families and the future of mankind. They are the real thing. Guardian Angels* donate $1,000 and also receive a handsome plaque acknowledging their role in making this production possible. You will be proud to display this in your home. *Guardian Angels, of course, are special. Everyone should have one. We are hoping for many.  Archangels* donate $5,000 and also receive an open invitation to a private lunch or dinner with the producers, G. Edward Griffin and Patrea Patrick, in the Los Angeles area.  *They say that Archangels are limited in number but very powerful. We sure could use a few. Cherubs* prepay $20 for the DVD including shipping and tax. Later, they will cost $19.50 plus shipping and tax, so this is a thrifty way to obtain your copy. Advance purchases are greatly appreciated, especially in quantity. They are ideal gifts for family and friends.  *Definition: Angels of the second order To become part of this urgent undertaking, click here. To see Offline, click here. The password is "offline". This version is intended to be viewed only by donors, those who are contemplating becoming donors, and subscribers to Unfiltered News. Any other use is prohibited at this time. Unauthorized posting to the Internet for general viewing may disqualify the program for TV use or entry in film festivals, so please keep this for your eyes only ‒ or for a friend who you think might help with completion. The program will be available for this restricted viewing through Tuesday, June 30.   Please help us put Offline ONLINE for everyone! click here G. Edward Griffin                    (1) OffTheGridNews, April 2015 (2) Offline trailer, Comment section, 2015 June 17       Click here to Reply or Forward 1.67 GB (11%) of 15 GB used Manage Terms - Privacy Last account activity: 0 minutes ago Details

Fwd: ZeroHedge Frontrunning: June 30

Frontrunning: June 30

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57 BRICS COUNTRIES SIGN TODAY WITH AIIB

Bulldog75: 57 BRICS COUNTRIES SIGN TODAY WITH AIIB

-OOM&F-

57 BRIC$ COUNTRIES SIGN TODAY WITH AIIB

06/29/2015

An astronomical amount of money is flowing from China. From Dragon$ to BRICS supporter nations, there are deep pocket dollars strengthening from the East. Watch closely Shanghai and Hong Kong Financial Centers. There is strength in numbers. Gold is golden. Silver is the glass slipper.

We are blessed and highly favored.

I Love You All, Bulldog75



China, India, Russia largest shareholders in China-led bank

June 29, 2015

Representatives of prospective founders of the Asian Infrastructure Investment Bank (AIIB) prepare to attend the signing ceremony of the articles of agreement of AIIB in Beijing, capital of China, June 29, 2015 [Xinhua]
Fifty countries on Monday signed the articles of agreement for the new China-led Asian Infrastructure Investment Bank, the first major global financial instrument independent from the Bretton Woods system.

Seven remaining countries out of the 57 that have applied to be founding members, Denmark, Kuwait, Malaysia, Philippines, Holland, South Africa and Thailand, are awaiting domestic approval.

“This will be a significant event. The constitution will lay a solid foundation for the establishment and operation of the AIIB,” said Chinese Finance Minister Lou Jiwei.

The AIIB will have an authorized capital of $100 billion, divided into shares that have a value of $100,000.

BRICS members China, India and Russia are the three largest shareholders, with a voting share of 26.06 per cent, 7.5 per cent and 5.92 per cent, respectively.

Following the signing of the bank’s charter, the agreement on the $100 billion AIIB will now have to be ratified by the parliaments of the founding members.

Asian countries will contribute up to 75 per cent of the total capital and be allocated a share of the quota based on their economic size.

Chinese Vice Finance Minister Shi Yaobin said China’s initial stake and voting share are “natural results” of current rules, and may be diluted as more members join.

Australia was first to sign the agreement in the Great Hall of the People in Beijing on Monday, state media reports said.

The Bank will base its headquarters in Beijing.

The Chinese Finance Ministry said the new lender will start operations by the end of 2015 under two preconditions: At least 10 prospective members ratify the agreement, and the initial subscribed capital is no less than 50 per cent of the authorized capital.

The AIIB will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan.


China and other emerging economies, including BRICS, have long protested against their limited voice at other multilateral development banks, including the World Bank, International Monetary Fund and Asian Development Bank (ADB).

China is grouped in the ‘Category II’ voting bloc at the World Bank while at the Asian Development Bank, China with a 5.5 per cent share is far outdone by America’s 15.7 per cent and Japan’s 15.6 per cent share.

The ADB has estimated that in the next decade Asian countries will need $8 trillion in infrastructure investments to maintain the current economic growth rate.

China scholar Asit Biswas at the Lee Kuan Yew School of Public Policy, Singapore, says Washington’s criticism of the China-led Bank is “childish”.

“Some critics argue that the AIIB will reduce the environmental, social and procurement standards in a race to the bottom. This is a childish criticism, especially because China has invited other governments to help with funding and governance,” he writes.

The US and Japan have not applied for the membership in the AIIB.

However, despite US pressures on its allies not to join the bank, Britain, France, Germany, Italy among others have signed on as founding members of the China-led Bank.

Meanwhile, New Zealand and Australia have already announced that they will invest $87.27 million and $718 million respectively as paid-in capital to the AIIB.

The new lender will finance infrastructure projects like the construction of roads, railways, and airports in the Asia-Pacific Region.

http://thebricspost.com/china-india-russia-largest-shareholders-in-china-led-bank/#.VZFy8NLbKcw

Posted by Terra Zetzz at 4:17:00 PM

Labels: News, OOM&F, Thoughts