“History is a set of lies agreed upon.” – Napoleon Bonaparte
- Truth hurts! I have experienced it myself when I awakened and realized that I have been lied to all my life. When I realized that easily 50% of what I view as truth in the MSM, society, schools… are lies. Our world is build on lies, propaganda and half-truths. People lie to themselves because the truth is just too painful. (See also: Hexagram: Star Of David Or Star Of Lucifer?)
- To those who study real history and not what the PTB shove upon us, we know the painful truth! The truth is: the modern Zionist State of Israel is founded/ financed by generational Satanists. It is a Rothschild counterfeit. The deception is so deep that few Christians have their eyes opened. The Star of David is no more Jewish in its origins than my pet goldfish. It is a Satanic symbol. Will God use ’666′ for His beloved Israel? I don’t think so!
- The deeper meaning behind this occult symbol used by Zionist Israel is really painful. This nation is founded to welcome/usher in the return of the Dark Lord: Lucifer and the Man of Sin. Every time the army of Israel fly their Star of David flag into war: what does it symbolizes? Does it symbolize the armies of God or the armies of Satan? Look at the murder, genocide and ethnic cleansing of the Palestinians for the past 60+ years! Of God or of the devil?
- The word ‘hex’ means curse essentially from the word hexagram, the 6 pointed star. If you put a hexagram on a person, the occult meaning is: you are putting a curse on a person. When you put a hexagram on a nation, the occult significance is that the nation is under a Satanic hex. You cannot convince me that putting the Star of David on everything Israel is of God !
- The whole founding of the Zionist state is for the Satanic endgame of enthroning the Anti-Christ onto the temple of God in Jerusalem. The sheeple in the Zionist state and Zionist Christians have wool pulled over their eyes. They are being blinded by the ‘god’ of this world: Lucifer. They are not necessarily bad people just blinded, deceived, misled into doing things which they would otherwise not do. Chief of which is in supporting the numerous murderous wars by the Synagogue of Satan. They need to awaken and see how far along the Satanic plan is. (See: The Synagogue of Satan! , The Roots of Evil in Jerusalem!)
- I do not believe or accept that the modern Zionist state of Israel is the Israel of the bible. I do not believe that the bible teaches that Khazarian gentile converts, non semitic Ashkenazi about 80-90% of modern Israel, are now the Israel of the bible. God has not abandoned the biological descendents of Israel. God will never abandon the apple of His eye: Israel. The Israel as taught in the bible are the biological descendents of the 12 tribes.
Jacob’s Last Words to His Sons
1 And Jacob called his sons and said, “Gather together, that I may tell you what shall befall you in the last days: …..
Revelation 7:4-8 (New King James Version)
4 And I heard the number of those who were sealed. One hundred and forty-four thousand of all the tribes of the children of Israel were sealed: ……
- Above verses clearly teaches that at the endtimes Israel is still defined as the biological descendents of the 12 tribes of Jacob. The covenant of God was with the biological descendents of Jacob. Jacob took over Esau’s birthright ie a right you get only by birth. Only the tribe of Aaron (biological descendents) can serve in the temple of God. There is nothing wrong with Gentile converts to Judaism but they are not the biological descendents of the 12 tribes.
- What is unsettling in the Satanic World War 3 Plan, is that both the Muslim world and Zionist Israel will be destroyed by the Illuminist Synagogue of Satan. A blood sacrifice is being prepared in Palestine. Those who choose to go along with this Satanic World War 3 plan will be the target. It is time to wake up! Denounce genocide, ethnic cleansing, evil, fear, hate for/of our fellowmen. This horrendous blood sacrifice will be done to welcome the Dark Lord. He draws power from sin, fear, hate, death and all things evil. It will be the precursor to the coming of the Anti-Christ!
- The good news for all those who love God is that God will preserve them. I have no doubts that God will preserve the faithful remnant of His beloved Israel. Those who love God will love Jews, gentiles and also the Palestinian people. God loves strangers, so should we!
“You shall neither mistreat a stranger nor oppress him, for you were strangers in the land of Egypt.
“Also you shall not oppress a stranger, for you know the heart of a stranger, because you were strangers in the land of Egypt.
‘And if a stranger dwells with you in your land, you shall not mistreat him.’
The stranger who dwells among you shall be to you as one born among you, and you shall love him as yourself; for you were strangers in the land of Egypt: I am the LORD your God.
- Dr. O.J. Graham on the Six Pointed ’666′ Star of David:
FOR THOSE WHO BELIEVE THE JEWS WILL RECEIVE ANTICHRIST.
JESUS says, “I am come in my Father’s name, and ye receive me not: if another shall come in his own name, him ye will receive”(JOHN 5:43).
Our intellectual conversation covered many topics which included the so-called Star of David, which he said he did not use as the symbol G-d really gave the children of Israel …. he challenged me to explore the six-pointed star. And I accepted the challenge, with the plan that I would prove its Jewishness. After all, I wore one and felt I had to defend it, even to him.
Jewish sources said it wasn’t originally Jewish. So, what was it? That took four years of research. From archive to archive, library to library…history book to history book.
The first mention of the star was in Amos 5:26 regarding the trek from Egypt to Canaan. Then in 922 B.C., when Solomon married the daughter of Pharoah and went into magic and witchcraft and built an altar to Ashtoroth and Moloch. The book traces the six pointed star from Egypt to Solomon, to Arab Magic and Witchcraft, to Druid use(references are documented). The book traces the star through Freemasonry usage to Mayer Amschel Bauer, who, in the 17th century, changed his name to depict the red six-pointed star (or shield) which he had hung on his door in Germany, and thus began the family of “Red Shield” or Rothschild. The research carried on through this family, to their court of arms, to Cabala, to Astrology, to Hitler and his putting a yellow six-pointed star on all Jews during the holocaust, to the Zionist symbol, and finally to the flag of the State of Israel and beyond.
Because this symbol is comprised of a six within a six within a six (6 points, 6 triangles, 6 sides of the hexagon in the middle) the research also included a look at the 666 prophecies in the Book of Daniel etc., regarding the “wilful King” (anti-Christ) and the “mark of the beast”. …
I started out to defend this symbol, but ended up shocked and quite devasted with the evidence gleaned from the academic research. It is the only book on the origin and history of the six-pointed star or hexagram. Have a good read, check the references yourself, and I would be happy to hear your comments. All the best to you.
The shield of David is not mentioned in rabbinic literature. Notably, not a single archeological proof exists as yet concerning the use of this symbol in the Holy Land in ancient times, even after King David. A David’s shield has recently been noted on a Jewish tombstone at Tarentum, in southern Italy, which may date as early as the third century of the common era. The earliest Jewish literary source which mentions it, the Eshkol ha-Kofer of the Karaite Judah Hadassi (middle of the 12th cent.), says, in ch. 242: ‘Seven names of angels precede the mezuzah: Michael, Gabriel, etc…. Tetragrammaton protect thee! And likewise the sign called ”David’s shield” is placed beside the name of each angel.’ It was, therefore, at this time a sign on amulets? (Bigpedia).
”The Universal Jewish Encyclopedia declares that the SIX-POINTED STAR…according to the Rosicrucians…was known to the ancient Egyptians” (Graham, p. 13 as cited in Aho).
Regarding Star-Worship, the Jewish Encyclopedia says, This is perhaps the oldest form of idolatry practised by the ancients. According to Wisdom xiii. 2, the observation of the stars in the East very early led the people to regard the planets and the fixed stars as gods. The religion of the ancient Egyptians is known to have consisted preeminently of sun-worship. Moses sternly warned the Israelites against worshiping the sun, moon, stars, and all the host of heaven (Deut. iv. 19, xvii. 3); it may be said that the prohibition of making and worshiping any image of that which is in heaven above (Ex. xx. 4; Deut. v. 8 ) implies also the stars and the other celestial bodies. The Israelites fell into this kind of idolatry, and as early as the time of Amos they had the images of Siccuth and Chiun, “the stars of their god” (Amos v. 26, R. V.); the latter name is generally supposed to denote the planet Saturn (Seligsohn, et al.).
In the book THE HISTORY AND PRACTICE OF MAGIC, Vol. 2, the six-pointed star is called the talisman of Saturn. It is illustrated obverse and reverse. The latter is the Seal of Solomon; the former is the five pointed star, commonly called the pentagram. Details are given on how to make these symbols and the materials to use? (Dispatch Magazine).
According to Wolf Carnahan’s web site, theTalisman of Saturn has the pentagram on the obverse side and the hexagram on the reverse side.
Some researchers have theorized that the hexagram represents the astrological chart at the time of David’s birth or anointment as king. The hexagram is also known as the ‘King’s Star’ in astrological circles, and was an important astrological symbol in Zoroastrianism (Wikipedia, Star of David).
The Jewish view of God, which permitted no images of Him, was and still is opposed to the acceptance of any symbols, and neither the Bible nor the Talmud recognizes their existence. It is noteworthy, moreover, that the shield of David is not mentioned in rabbinical literature. The “Magen Dawid,” therefore, probably did not originate withinRabbinism [sic], the official and dominant Judaism for more than 2,000 years? (Jacobs and Blau).
’(Heb. ‘Shield of David’): Mystical symbol consisting of two superimposed triangles forming a star or hexagram; today regarded as a Jewish symbol. Although occurring in the Capernaum synagogue (3rd cent. CE), it was in ancient times predominantly a non-Jewish decorative motif (e.g. on Roman mosaic pavements), and is found in Christian churches in the Middle Ages, while absent from contemporary Jewish decoration and not mentioned in rabbinic literature.
The name figures from the 13th cent. in the ‘practical Kabbalah,’ where it is a magic symbol associated with the pentagram or ‘Star of Solomon’ (with which it is frequently confused). The origin and period of its adoption as a Jewish symbol is a matter of dispute. It occurs in a specifically Jewish context in Prague in the 17th cent. The M.D. was adopted by the First Zionist Congress (1897) as a symbol, and figures on the flags of the Zionist Organization and of the State of Israel. It was used by the Nazis, in the form of a yellow star, as the Jewish ‘Badge of shame.’ . . .A ‘magic symbol associated with the pentagram’ ! The pentagram is one of the most powerful symbols of the occult. The Lord specifically warns against this kind of thing in His Torah. As Jews, and certainly as followers of Yeshua, we are not to look to magicians, mediums or sorcerers, etc. to guide us in our walk with the Lord, or protect us. And we are certainly not to use their symbols as representative of Yahveh or His People Israel (AvramYehoshua).?
There is no biblical evidence, whether Scriptural or archeological [sic], that the so called ’Star of David’ is a God given symbol for His People Israel. But there is extensive evidence that the ‘Star of David’ originated in the occult and continues to occupy a place in it today. I could not see how I, as a representative of Yeshua (Truth), could give legitimacy to an anti-biblical symbol. Therefore, I discontinued using the Star of David because I could not biblically justify it. It was from ancient time, and still is today, a symbol of the occult, long before it came to be a symbol for the Jewish People? (AvramYehoshua).
Speaking of the Star of David, Yehoshua says, What makes it so anti-Torah, and therefore anti-Yahveh, is that this lends credence to magic and the occult, which Yahveh soundly condemns. Unfortunately, this practice is prevalent within Judaism (and Christianity), today. An interweaving of occult mysticism, with the Scriptures and the traditions of the Jewish (or Christian) People. The Talmud was begun in Babylon, with all its pagan-occult influences, long after King’s David and Solomon were dead. And the Kabala 5 is not part of the Word of God. Kabala is Jewish sorcery? (AvramYehoshua).
The so-called ‘Star of David’ is essentially a ‘hexagram,’ nothing more, nothing less. There is no Biblical or Jewish evidence that traces this ancient occult symbol with king David of Israel. However, there is evidence that it was used by king Solomon, after he turned to pagan gods and the occult, late in his life, causing God to become very angry with him (Dankenbring).
Some Orthodox Jewish groups reject the use of the hexagram Star of David because of its association with magic and the occult. They do not recognize it as a Jewish symbol. Some Haredi groups, such as Neturei Karta, reject it because of its association with Zionism (Wikipedia,Star of David).
If you examine the so-called ‘Star of David,’ or hexagram, closely, you will discover something astonishing. It has six points, forms six equilateral triangles, and in its interior forms a six sided hexagon — thus it reveals the number of Satan the devil, or the beast of Revelation — 66, and 6 — 666 !!! (Dankenbring).
… to continue reading click here!
- The Zionist Synagogue of Satan has attempted to rewrite history many times. You cannot fool all the people all the time. Here are some truths:
OBFUSCATION 1: Israelis and Zionists never target Jews
REALITY: “about 125,000 Jews left Iraq for Israel in the late 1940s and into 1952, mostly because they had been lied to and put into a panic by what I came to learn were Zionist bombs [referring to the bombings done at Synagogues and other areas of Jewish public concentration]” Naeim Giladi, an Iraqi Jew in his book: Ben Gurion’s Scandals (Flushing: Glilit Pub. Co., 1995).
On November 25, 1940, Zionists attacked with explosives in Haifa Harbor the S.S. Patria carrying illegal Jewish immigrants. The attack was meant to embarrass the British and was also a result of rivalry among Zionist groups. In that incident 268 Jewish immigrants drowned. See these books for details on many more of these issues.
-The Transfer Agreement (Edwin Black)
-Original Sins (Benjamin Beit-Hallami)
-Beyond Innocence and Redemption: Confronting the Holocaust and Israeli Power (Dr. Marc H. Ellis)
-Ben-Gurions Scandals (Noam Giladi)
-Unholy Alliance (Marc H. Ellis)
-Ending Auschwitz (Marc H. Ellis)
-Selected essays in the compendium “Walking the Red Line” (ed. Deena Hurwitz). For example, the essay “Living Comfortably with —-Taboos” by Rabbi Gary Nitzan-Ginzberg, asserts that many aspects of Zionism in theory and as practiced can be categorized as racist.
-The Seventh Million (Tom Segev)
-The Holocaust Industry (Norman Finkelstein)- Perfidy (Ben Hecht)
-The Holocaust Victims Accuse (Neturei Karta)
-Ben-Gurion and the Holocaust (Shabbtai Teveth)
-Zionism in the Age of the Dictators (Lenni Brenner)
-51 Documents: Zionist Collaboration with the Nazis (Lenni Brenner)
OBFUSCATION 2: “We don’t start wars: This war was forced on us. Arafat is responsible for all. He made his strategic decision of terrorism to reach diplomatic achievements by murdering. In this, he chose terrorism.” Ariel Sharon, December 2, 2001
REALITY: In a Los Angeles Times column published October 13, Rabbi Michael Lerner wrote:
“The preponderance of responsibility lies with Israel and with an international media that continue to obscure the basic realities facing the Palestinian people, and continue to treat the death of Israeli soldiers enforcing a brutal occupation as somehow more outrageous and barbarous than the killing of many times as many Palestinian teenagers who were resisting the occupation.”
See also http://al-awda.org/media/myths.html
OBFUSCATION 3: Zionism is a rational discourse in a world of turmoil
REALITY: ” You would like me to look at it objectively. Objectively, I agree: we are only breeding more hatred and violence. You want me to imagine how I would feel if I were a Palestinian. I suppose that if I were, I might want to kill Israelis myself. But I am not objective and I am not a Palestinian. It’s not that the lives of Palestinians don’t matter to me. But Israeli lives matter more. I know this doesn’t sound terribly enlightened. And it certainly doesn’t lead to any of the political solutions that we both know are necessary if this horror is going to end.” Hillel Halkin ,?Objectivity is morally overrated?, Jerusalem Post, 14 November 2002. Also on the web at
OBFUSCATION 6: Israel is a reliable ally and a true friend of the US
REALITY: Time and time again, Israel has been shown to be a strategic liability for America and counter to America’s national interest. By being associated with Israel’s actions, America’s standing in the entire Muslim world is damaged. Israel routinely spies on the United States and carries out espionage and political assassinations on the soil of America’s allies.
And on June 8, 1967, with no other combat taking place nearby, Israeli warplanes and torpedo boats repeatedly attacked the U.S. intelligence ship Liberty off the Sinai coast, killing American sailors and wounding 171. Though Israel insists the attack was an accident, abundant evidence has surfaced that Israel deliberately attacked the ship, fearing it would monitor Israeli preparations for an attack on the Golan Heights the next day. In 1991, columnists Rowland Evans and Robert Novak discovered that the US embassy in Beirut had intercepted Israeli radio traffic in which an Israeli pilot reported: “It’s an American ship.” The Israeli command ignored the report and ordered the pilot to press the attack.
Even in commercial areas important to a few in the US, Israel has become a major competitor of the US by selling American technology given free to Israel to others (this includes military and military related high tech sales which are now Israel’s biggest exports). Research has also shown that Israel’s cost to US taxpayers ranged from a few hundred billion dollars to nearly $4 Trillion.
OBFUSCATION 7: Israel seeks peace based on International law
REALITY: ” It seems almost inevitable that the United States will initiate new peace efforts, but it is unlikely that real progress can be made on any of these issues as long as Israel insists on its settlement policy, illegal under international laws that are supported by the United States and all other nations. There are many questions as we continue to seek an end to violence in the Middle East, but there is no way to escape the vital one: Land or peace?” President Jimmy Carter, Washington Post, November 26, 2000
Israel is currently in violation of 69 UN Security Council resolutions and countless UN General Assembly resolutions.
OBFUSCATION 8: Zionism was a rational response to anti-Semitism of Europe
REALITY: Zionism and Nazism were twins in their narrow nationalism and even collaborated against the public. The Zionists thus found no reason not to collaborate with the Nazis in the mid-thirties to rid Europe of its Jews. The details of this transfer agreement were given by Edwin Black’s book, The Transfer Agreement: the Untold Story of the Secret Pact Between the Third Reich & Jewish Palestine (New York: Macmillan Publishing Co., London: Collier Macmillan Publishers, 1984). After commencement of attacks on Jews under German control, the British, in the hope of easing the pressure for increased immigration into Palestine, proposed that thousands of Jewish children be admitted directly into Britain. Ben-Gurion, the recognized leader of labor Zionism at the time was absolutely against the plan, telling a meeting of Labour Zionist leaders on 7 Dec. 1938:
“If I knew that it would be possible to save all the children in Germany by bringing them over to England, and only half of them by transporting them to Eretz Yisrael, then I would opt for the second alternative. For we must weigh not only the life of these children, but also the history of the People of Israel” Lenni Brenner, The Iron Wall: Zionist Revisionism from Jabotinsky to Shamir (Zed Books, 1984). cites as reference no. 23: Yoav Gelber, ‘ Zionist Policy and the Fate of European Jewry (1939-42)’ Yad Vashem Studies, vol. XII, p. 199.
…. to continue reading click here!
- See also: Israel & The Arabs and Zionist Myths .
- Who is the war monger here? The American Illuminist ruling elite and Zionist Israel. Who has 150-300 nuclear bombs but refuses to admit it and refuses to sign the Nuclear Non Proliferation Treaty? Zionist Israel! Who is the aggressor here? The Zionist Synagogue of Satan. The Guardian UK:
Speaking in New York, Mahmoud Ahmadinejad says sanctions are unwelcome but his country is not scared and ‘if we wanted the bomb we would tell the world’
- Reuters is a Rothschild owned mouthpiece I believe. This article highlights a coming financial tsunami! Via this engineered crisis and orchestrated attacks, the ECB is increasingly seen as the solution. They will soon have the full approval/mandate to print Euros out of thin air to bailout the Eurozone. National economic sovereignty will thus be surrendered and with it politicians will have to take orders from the ECB banksters.
Many possible triggers for wider euro debt crisis
Europe may be months, conceivably weeks away from an expanded debt crisis that cuts more countries off from access to the markets and forces fresh emergency action by rich governments or the European Central Bank.
The many potential triggers for an expanded crisis include a failed bond auction, any signs that Athens or donor nations were backing away from a 110 billion euro ($141 billion) bailout of Greece, and a freezing up of Europe’s interbank money market. For now, Portugal, Ireland and Spain, widely seen as the next possible “dominos” after Greece, remain in significantly better shape. The interbank market is far from grinding to a halt as it did after Lehman Brothers collapsed in late 2008.
But the spread of investor jitters in the past 24 hours, affecting markets as distant as yen swaps in Tokyo, suggests market conditions could deteriorate as rapidly as they did during the global financial crisis of 2007-2009. “In my view there is a 10-20 percent chance that at least one more country will need rescuing as it finds itself shut out of the markets,” said Marco Annunziata, chief economist at Italy’s UniCredit bank. “If it happens, it is most likely to happen in the coming six months.”
Lena Komileva, head of G7 market economics at money broker Tullett Prebon, said the crisis over Greece’s solvency had morphed into a capital markets crisis, and the markets had begun to feed on their own momentum. “Another credit event similar to Greece can happen within weeks,” she said.
German Chancellor Angela Merkel and top economic policy makers in the euro zone appeared to recognize this in their warnings about the risk of an expanded crisis on Wednesday. “It’s absolutely essential to contain the bushfire in Greece so that it will not become a forest fire and a threat to financial stability for the European Union and its economy as a whole,” said European Monetary Affairs Commissioner Olli Rehn.
The markets could also panic if commercial banks around Europe, which have cut off funding lines to Greek banks, decide to do the same to banks in Portugal, Ireland and Spain. So far the stresses in the money markets do not approach those seen at the peak of the global crisis. The two-year euro zone swap spread, which measures the aversion of lenders to deal with any but the most creditworthy borrowers, has widened to 65 basis points, its widest since mid-March 2009, but is far below the record 130 bps hit in October 2008.
However, large Spanish and Portuguese banks are having to pay a higher price to access the interbank market, and this premium could widen if sovereign debt markets sink further.
The political difficulty of assembling an international bailout for a country — the Greek bailout was preceded by months of wrangling between angry governments — suggest the ECB would be the first institution to respond to an expanded crisis.
It could reintroduce emergency measures taken during the global crisis, resuming a programme of lending in dollars and Swiss francs over six- and 12-month maturities, or extending its promise to lend banks all the weekly funds they need at fixed rates beyond mid-October. It might also abandon minimum credit rating requirements for more countries’ sovereign bonds when they are used as collateral in its money market operations, as it did for Greece this week.
Its most radical step would be to buy countries’ bonds from the secondary market, shouldering their debt — though that would be hugely controversial and hurt the ECB’s reputation for conservative monetary policy. Analysts think it might pledge some 200 billion euros in such purchases. “They’ve a huge amount of armoury at their disposal. They can do a huge amount of things and I think they will be able to stabilize the market at some point,” said UBS chief European economist Stephane Deo.
- The situation is alot worse than most people realize. Most debt to GDP figures do not take into account the unfunded liabilities and off-balance sheet obligations of profligate governments. Take America for example: The current debt is about $13T as is the GDP. So the debt to GDP is 100%. But the unfunded liabilities of Social Security and MediCare is above US$100T. Fannie Mae and Freddie Mac’s obligations are about US$5-6T. There is no way these debts will be repaid!
- UK is in far worse shape than most of the Eurozone. Their only advantage is that they print their own currency the Sterling Pound. The UK government will simply print money out of thin air until there are no more trees on earth to solve their money problems. UK is following Zimbabwean economic policies. Soon, Brits will all be billionaires but they cannot afford breakfast. It will cost a wheelbarrow load of Sterling Pound just to buy a loaf of bread.
European commission’s spring forecasts put UK budget deficit this year at 12% of GDP – the highest in the European Union and worse than Treasury estimates.
Whoever wins the election must make sorting out the public finances the top priority, the European commission warned on the eve of the poll, as it predicted the British budget deficit would swell this year to become the biggest in the European Union, overtaking even Greece. The commission’s spring economic forecasts put the UK deficit for this calendar year at 12% of GDP, the highest of all 27 EU nations and worse than the Treasury’s own forecasts.
The country’s budget shortfall was the third largest in the EU last year but will overtake both Greece and Ireland this year, according to the forecasts. Greece’s measures to tackle its public finances problems are projected to cut its deficit to 9.3% of GDP. Worries about Britain’s public finances – in their worst state since the end of the second world war – continue to unnerve financial markets and analysts are divided over whether a hung parliament will have the clout to rapidly reduce the deficit. “The first thing for the new government to do is to agree on a convincing, ambitious programme of fiscal consolidation in order to start to reduce the very high deficit and stabilise the high debt level of the UK,” said European economic and monetary affairs commissioner Olli Rehn.
“That’s by far the first and foremost challenge of the new government. I trust whatever the colour of the government, I hope it will take this measure.” The deficit forecasts are an improvement on the commission’s last outlook for Britain but they still paint a gloomier picture than the government itself.
In financial year terms, the commission’s forecasts are for a worse deficit than predicted by Alistair Darling at his March budget. In 2010/11 the commission puts the deficit at 11.5% of GDP, compared with Darling’s forecast for an 11.1% ratio of public sector net borrowing – the gap between tax and spending – to GDP.
London-based economists at BNP Paribas, have warned that the City is grossly underestimating the chance of a downgrade from the UK’s current top-notch AAA status. They warn that an undecided Britain is heading towards a coalition government that would create distractions from repairing the public finances – something that would raise the chance of a downgrade to almost 50%, compared with a consensus estimate of 10% risk .
Dubai: Commercial Banks Buy Gold to Meet Demand ! ‘Everyone is Buying Gold! Customers are Demanding That Their Deposits be Kept in Gold !’
- The sheeple in Dubai are waking up. They are pretty smart and understand history. The reality is: fiat currencies are a confidence job (con-job) backed by nothing. Actually, worse than nothing! It is backed by the full faith and credit of profligate and lying governments. This, my friend, is not worth squat. Even responsible governments/countries will be dragged into the mud of a global monetary meltdown. Remember the golden rule: He who has the gold makes the rules! Emirates Business reports:
Dealers claim regional banks are stockpiling gold for clients who want their deposits saved in the yellow metal.
Commercial banks are buying gold to meet the demand of clients who want their deposits saved in gold, commodity dealers said. With the currencies in the GCC pegged to the volatile US dollar, local banks have all the more reasons to buy gold, local gold dealers emphasised.
On the other hand, senior Dubai-based bankers affirmed they have been considering meeting the demands of their customers to back the deposits with gold. The dealers, however, declined to name the banks they have been supplying gold to. Michael Mesaric, CEO of Valcambi Sa, one of the largest gold refiners in the world, said last year the company supplied 150 tonnes of gold to banks in Switzerland. He said the commercial banks in GCC are buying gold, as well.
“Everyone is buying gold. Customers are demanding that their deposits be kept in gold,” Mesaric told Emirates Business on the sidelines of the ’7th Dubai City of Gold Conference’. A Dubai-based banker said that banks have been open to the idea of buying gold. “We may not disclose our holdings in gold, but then the bullion is an important proposition for us. Especially with regards to holding the confidence of customers,” he said.
The director of investment banking of one of the prominent banks in Dubai said that his bank “will definitely look into buying gold”. Besides, there are reports of at least two banks in region – one in the UAE and the other in Saudi Arabia – launching a gold-backed fund for investors. Seid Suleman, President of Miraj, a Canada-based firm had earlier told this newspaper that he was holding talks with banks to launch funds. “It will be basically about managing gold-backed individual portfolios,” he said.
- Greg Hunter has written a highly perceptive piece. You will do well to imbibe his understanding of the situation. Keep in mind that the ECB does not have the mandate to print Euros. This is held by the national central banks of the Eurozone. Where is the ECB and IMF getting the money to bail Greece out? Where is Germany getting the money to bail Greece out? The Illuminist power behind the FedRes is engineering a conquest of the Eurzone for One World Government.
Pick a financial fire and you can be sure the U.S. government will hose it down with gallons of money. AIG, General Motors, Chrysler, insolvent states, FDIC, Fannie, Freddie and all the banks are just a few of the blazes Uncle Sam has sprayed money on.
Now, the Federal Reserve is printing up another $105 billion to send to Greece to help with its debt problem. Is the bailout cycle getting ready to take another turn bailing out the Banks? You know, the ones we were told had little exposure to sour European debt? Check out this article from Bloomberg last week: JPMorgan Chase & Co., the second- biggest U.S. bank by assets, has a larger exposure than any of its peers to Portugal, Italy,Ireland, Greece and Spain, according to Wells Fargo & Co. JPMorgan’s exposure to the five so-called PIIGS countries is $36.3 billion, equating to 28 percent of the firm’s Tier-1 capital, a measure of financial strength, Wells Fargo analysts including Matthew Burnell wrote today. Morgan Stanley holds $32.4 billion of debt in the region, which equates to 69 percent of its Tier 1 capital, Burnell wrote.”
I guess now we know why Ben Bernanke is supplying Greece with $105 billion in bailout money. It looks like he actually is bailing out U.S. Banks—again! I wrote about the Fed admitting to massive money creation 3 weeks ago in a post called “Bernanke Admits Printing $1.3 Trillion Out Of Thin Air.” It also looks like we are not going to stop this money printing train wreck because the bailouts seem to be never ending. This is the main reason we are facing a head-on collision with very big inflation.
In the latest report from John Williams of shadowstats.com, the inflation picture looks dire and definite. Williams wrote, “My outlook for a hyperinflationary great depression in theUnited States is unchanged; all that is unfolding now is some of the detail that should lead to that ultimate financial/economic disaster. Gold remains the best long-term hedge here, along with some silver, and cash outside the U.S. dollar and theUnited States. I still like the Canadian and Australian dollars and the Swiss franc. Again, the outlook is for the long haul, irrespective of any near-term extreme volatility in the various markets. As to the U.S. stock market, the term “insanity” comes to mind as I watch some of the day-to-day movements.”
Williams also thinks there are “mounting systemic risks.” On that issue, the Global Europe Anticipation Bulletin is in agreement with shadowstats.com. GEAB writes, “The fuss made over Greece by the English and US media in particular tried to hide from the majority of the economic, financial and political players the fact that the Greek problem wasn’t a sign of an upcoming Eurozone crisis (2) but, in fact, an early warning of the next big shock of the global systemic crisis. . . one mustn’t forget that the current crisis has its origin in the collapse of the world order created after 1945, of which the United States was the support, assisted by the United Kingdom.” (Click here for the complete GEAB report.)
I keep trying to find ways to explain the scope of what is going on in the world financial markets to friends and readers of this site. I told an acquaintance at dinner last night the money printing going on “has never happened on this scale in human history.” The guy just looked at me and said that he thought it was a good idea to invest in municipal bonds! How are broke cities and states going to pay the interest, let alone the principal, back. If the cities and states are bailed out, massive inflation will render the bonds worthless or near worthless.
People just do not understand the calamity that is upon us, but what do you expect when the mainstream media keeps broadcasting that we are in a “recovery.” I do not know exactly how this is going to end, but for the unprepared, it will end badly.
- What we are seeing is the race to the bottom by all fiat currencies. The USD has benefited via the weakness of the Euro and UK pound. But do not for any moment think that it is a sound currency! It is the most problematic of all currencies. We are experiencing competitive devaluations of currencies against one another. Gold is making record highs in Euro, Sterling and Yen every few days. The Asian Tigers will follow suit by adjusting their currencies lower to remain competitive. What is happening to the Euro is no where shocking compared to what is coming. The monetary tsunami will hit in the coming 12 months. The sheeple will stampede out of fiat currencies like mad dogs!
- Inflation is knocking at the door big time! It is manifesting itself in the price of food and commodities. Already China has seen a 10% increase in food prices (YoY) and India at 20% (YoY). The Chinese are caught in a web of their own making. If they continue to peg the CNY at 6.83 to the USD, inflation will rise greatly when the USD is devalued. The FedRes (IMO) is signalling that they will debase the USD by massively printing money out of thin air to bailout every Tom, Dick, Harry and their pet goldfish! Are they secretly bailing Greece out ?
- The hidden agenda behind this Eurozone crisis is: the destabilization of national sovereignties in favor of a regional supra-national government before a super merger to form a One World Government. The unelected EU parliament and ECB will get stronger and national governments and their central banks will wilt under the assault. Finally, they will surrender their rights to the monetary powers in the ECB. And the ECB will print money out of thin air massively to bail everybody out! The Euro is toast!
Euro’s Drop ‘Very Shocking’ and ‘Violent’
Yikes. The European common currency is getting thrashed Wednesday, bumping up against the $1.28 level earlier, amid all the uncertainty about the European credit crisis. The euro is down about 0.8% against the dollar at last glance — a sizable move in the massive currency markets. It’s down 1.2% against the Japanese yen, another safe haven currency. The swiss national bank seems to be fighting valiantly to keep the Swiss Franc from appreciating too much against the euro, something that would be detrimental to high-value manufactured exports from Switzerland. The euro is basically flat against the Swiss franc Wednesday. Moody’s warning of a possible downgrade for Portugal’s debt rating seemed to get things rolling downhill for the currency Wednesday.
The currency watchers we check in with from time to time seem somewhat taken aback by the sharpness of the euro moves lately. Camilla Sutton of Scotia Capital shot us this email:
“The move this morning in the lead into the North American market has been violent. Certainly technicals and model funds have exaggerated the move lower in EUR, however it is hard not to ignore the declining confidence in the EU framework.
The biggest problem now is that the events of the last six months have highlighted the weaknesses in the EU frameworks and there are still not solutions to most of these. Greece has an aid package, but there is still no plan [to] help the other weaker members should they need it. Contagion fears are slowly turning into a reality as bond yields of the weaker country continue to move higher (and some, like Ireland have reached a new high).”
Over at RBC Capital Markets, currency analyst George Davis offered up this comment:
This selloff is very shocking. The next support for EUR/USD is located at 1.2623, followed by 1.2459 and 1.2329. It will be hard for the EUR to mount any kind of sustained recovery until something happens that will eliminate the sovereign risk in Euroland. This uncertainty is likely to keep risk aversion levels – and the USD – higher.
- This sovereign debt crisis is a global crisis. Those who think Asia and in particular China and the Asian Tigers (HK, Singapore, Taiwan, S.Korea) will not be affected are deceiving themselves. Yes, these are in better shape since the 1997 Asian financial crisis. But the reality is that these countries are highly dependent on exports to the west. The Asian Tigers actively manage their currencies in USD terms to maintain competitiveness.
- As we see the Euro getting pounded daily, keep in mind that a ‘cheaper’ Euro is good for the Eurozone’s competitiveness. This crisis will continue in cycles of attacks through the PIIGS, UK, Japan and finally a cataclysmic detonation in America. The Illuminists owned firms are doing their part in these orchestrated attacks against nations of the world. I do not have faith in credit rating agencies. Weren’t they complicit in the sub prime frauds? Of course, we know they rely on Wall Street for business. Do not be naive, the world is heading towards a global monetary crisis. Flee to gold as your insurance!
- How is Japan going to pay back its debts which is at 220% of GDP? By massively printing money out of thin air (QE) ie stealth devaluation of the Yen. The world is heading towards a hyper-inflationary meltdown! Bloomberg reports:
Standard & Poor’s indicated that a fiscal plan scheduled for next month by Prime Minister Yukio Hatoyama’s government may be key to whether it will cut the nation’s sovereign credit rating. The proposal will be “an important statement of the government’s commitment” to rein in the deficit, William Hess, director of sovereign ratings for Asia, said in an interview yesterday in Tashkent, Uzbekistan. “Something has to appear to change our assessment for where things could end up.”
At stake for Japan is keeping the AA grade after S&P lowered its outlook for the rating in January, and shoring up confidence that it will avoid contagion from a Greek crisis threatening to engulf other sovereign borrowers. Finance Minister Naoto Kan said this week that Greece has shown the need for Japan to take a “very firm” stance toward reducing debt, which is approaching twice the size of Japan’s economy.
“There is a growing sense of urgency, even though it’s stated very quietly, that the situation isn’t sustainable,” said Hess, who was in the capital of Uzbekistan to attend an annual meeting of the Asian Development Bank. S&P downgraded Greece’s debt to junk, or below investment grade, last week and followed with cuts to Portugal and Spain. Greece secured an unprecedented 110 billion-euro ($145 billion) bailout package from the European Union and International Monetary Fund to prevent default this week.
Hatoyama’s government, which faces an election in the upper house of parliament in July, plans to roll out its medium-term fiscal proposal next month. It’s considering targeting a budget surplus or a reduction in the deficit to 3 percent of gross domestic product by 2020 from a 9.4 percent shortfall this year, a government official said on condition of anonymity last month.
“This will be a challenging year for the government to provide a credible plan,” said Hess. “The outlook change reflects the view of where things are headed.”
Japan’s government bonds have yet to signal evidence of investor concern. Benchmark 10-year notes yielded 1.29 percent at the end of last week, little changed from the start of the year and the lowest level among major economies. Japan’s market, unlike Greece, is almost solely composed of domestic investors, with less than 7 percent of holders being foreign as of December.