Climate Change Weekly Report: Nature or Human? Scientific Theory and the Importance of Hypothesis

Paris Climate Change

“It doesn’t matter how beautiful your theory is, it doesn’t matter how smart you are. If it doesn’t agree with experiment, it’s wrong.” Richard Feynman

Ken Haapala | Science and Environmental Policy Project (SEPP)

Scientific Theory and the Importance of Hypothesis

“It’s Wrong”: Nobel Laureate in Physics Richard Feynman (1965) was a brilliant scientist with a passion for teaching.

In some of his writing, and videos of his lectures, he clearly articulates the difficulties in formulating a scientific theory and the importance of hypothesis testing (experiment), see above quote. Feynman left a lasting impression on many students of science.

In his written testimony to the U.S. House Committee on Science, Space and Technology on February 2, John Christy of the University of Alabama in Huntsville submitted the results of 102 IPCC CIMP-5 Climate Model runs for the Global Bulk Atmospheric Temperature. (Surface to 50,000 feet (15,240 meters). (CIMP-5 is the latest version global climate models used by the UN Intergovernmental Panel on Climate Change (IPCC))

Christy tested the results of these model runs against temperature observations by four different datasets of weather balloon measurements with one type of instruments and by satellites with another type of instruments as calculated by 3 different entities. Christy shows a 0.98 correlation between the types of observational datasets, which is very high for such types of measurements. Not only is there significant disparity between the average of model runs and observations; but also, since 1995 the disparity is increasing significantly. The models greatly overestimate the warming of the bulk atmosphere.

Applying Feynman’s rule, the models are wrong!

By this empirical testing, the certainty expressed by the IPCC that human emissions of greenhouse gases, chiefly carbon dioxide (CO2), primarily responsible for late 20th century warming is wrong.

EPA’s finding that greenhouse gases, chiefly CO2, endanger public health and welfare is wrong. And the justification for the US Administration’s power plan is wrong.

Since Christy’s testimony undermines the foundation the government’s energy and environmental policy, including international efforts, it will be the primary focus of this TWTW.

See links under Challenging the Orthodoxy, DOWNLOAD THIS FULL WEEKLY REPORT.

Natural or Human? Christy’s evidence does not mean that there is no greenhouse effect, or that human emissions do not contribute to a warming. But it certainly indicates that the human emissions of a cause are overstated, and that the primary cause(s) of late 20th century warming is likely to be natural influences. This is directly contrary to probability of nature-only influence calculations by Mann et al. discussed in the January 30, 2016 TWTW. The artificial truncation of the data to the past 150 years can lead to incorrect conclusions, even assuming the calculations are correct.

Extension of Prior Testimony: On December 8, 2015 Christy give strong written testimony before the U.S. Senate Subcommittee on Space, Science and Competitiveness questioning claims of human-induced climate change impacts on extreme events such as wildfires (no evidence), droughts & floods (little or no evidence) with increasing grain production.

In that testimony, Christy expressed concern over the political influence on climate science, including the IPCC.

Subsequently, a grouped called Yale Climate Connections released a video attacking Christy’s December 8 testimony. The video featured statements by Climate scientists Michael Mann, Kevin Trenberth, Andrew Dessler, Carl Mears, and Ben Santer, and David Titley.

The title of the article accompanying the video is a dead giveaway of its purpose: “Experts Fault Reliance on Satellite Data Alone.” Carl Mears of the Remote Sensing Systems (RSS) should know that Christy and his group have used RSS satellite data for years in addition to UAH data and NOAA data. Further, he should know that balloon data is distinctly different from satellite data. See links under Defending the Orthodoxy.

Four Criticisms of Satellite Measurements

Four Points: In his February 2 testimony, Christy addresses four criticisms of satellite measurements, the first three of which are brought up in the video. The first is that satellites do not measure temperatures. Christy counters that they actually measure microwave radiation from oxygen, the intensity of which is directly proportional to the temperature of the oxygen. This is similar to modern doctors using ear probes measuring emitted radiation to measure a patient’s temperature – a great improvement to various types of older thermometers.

The second criticism is orbital decay, which was pointed out by RSS about 20 years ago and corrected. The third criticism is east-west drift (diurnal drift) of the satellites. This influences measurements of the lower troposphere, but not the middle troposphere, the data used in the hypothesis testing. Further, the error was corrected about 10 years ago.

A fourth criticism not brought up in the video, but discussed by Christy, is that some scientists have expressed that the satellite data hides the power and validity of the models. To prevent misinterpretation, Christy adjusts the data to the same starting point similar to a foot race starting at the same starting line. The starting point is1979 when satellite data became available rather than an artificially contrived one. No one has produced evidence Christy’s adjustments are in error.

Adjusting for errors in hypotheses when they are revealed is how science works to improve hypotheses. Improving hypotheses is one of the purposes of hypothesis testing. See links under Challenging the Orthodoxy, especially pp 4-5

Many Scientists Don’t Put Data into Linear Form

Linear Approach: Many scientists do not care for the tendency to put time-series data into linear form, or even constructing a regression trend between two points in the time-series, because it often disguises other trends that may only be observed in the rich data. However, a linear approach can be effective. Christy uses one to eliminate the influence of volcanoes, etc. and to better demonstrate the departure of the climate models from observations. Using the 36-year period from 1979 to 2015, Christy shows a linear trend of +0.079ºC/decade for balloon data, and +0.091 ºC/decade for satellite data. The average of 102 ICCC CMIP-5 Climate Model runs over the same period is +0.214 ºC/decade. Globally, the models overestimate bulk atmospheric warming (surface to 50,000 feet) by 2.5 times. From the data presented Christy states:

“Thus, the evidence here strongly suggests the theory, as embodied in models, goes much too far in forcing the atmosphere to retain heat when in reality the atmosphere has a means to relinquish heat and thus warms at a much slower rate.” See Christy, Challenging the Orthodoxy, pp 4-6

How Well Do We Understand Climate Change?

After addressing surface temperature data and the data quality issues involve (which have been discussed in TWTW), Christy goes to the key question: How Well Do We Understand Climate Change? After discussing the complexity of the modeling, he asserts that if we understand this complex system, we should be able of predict its behavior. This is a start; but, accurate prediction does not guarantee that the fundamental physics is understood. Based on the 102 climate model simulations of the troposphere Christy was able to access, our understanding is far from complete and does not inspire confidence. See Christy, Challenging the Orthodoxy, pp 6-11

Russian INM-CM4

Only One: To give a demonstration of the variation among the models Christy plots the 102 CMIPS Model Runs in 32 Groupings against Observations. Only one model comes close to the observations – the Russian INM-CM4. For those who like to calculate a low probability of 20th century warming being natural variability, there is a new challenge. What is the random probability of 101 out of 102 CMIP5 global climate model runs greatly overestimating global mid-tropospheric temperature observations? See Christy, Challenging the Orthodoxy, p 12.

Conclusion: Christy concluded with calculations of what would be the impact on global warming if the US ceased emissions totally – the US simply vanished. Using an IPCC model with a low end assumption of the influence of CO2 (not the much lower influence indicated by his research) after 50 years the effect would be less than monthly variations in global temperatures.

If the video by Yale Climate Connections, mentioned above, prompted Christy to prepare this rigorous, terse summary of the problems in IPCC models and science, perhaps those responsible for the video should be thanked. It would be difficult to create a better evaluation of the quality of the IPCC’s models.

Treaty – No Treaty: Smoke OR Mirrors, You Pick

Myron Ebell of the Competitive Enterprise Institute wrote an interesting article on the issue of what was agreed upon at the end of the Paris UNFCCC December Conference of Parties (COP-21). Is it a treaty or not? As stated in TWTW, the concluding effort appeared to be all smoke and mirrors on the part of the US delegates and the Administration. Ebell suggests that the UN is proceeding with full flourishes that it is a treaty.

According to Ebell it fits the conditions of a treaty as defined by the UN. As a treaty it requires consideration by the US Senate and concurrence of two-thirds of the senators present. It remains to be seen what this all-so-clever Administration will announce and do. See link under Analyzing Paris!

Number of the Week: 2.5 & 3 times.

How John Christy calculated that the global climate models overestimate global atmospheric warming by 2.5 times that of observations is explained under Linear Approach, above. Christy also calculated that the models overestimate atmospheric warming over the tropics by 3 times. This is the area in which the storied “hot spot” should be occurring. Even though it was not part of the literature, Ben Santer inserted the “hot spot” in the 2005 IPCC report, after it underwent peer review. No one has been able to physically find it. Perhaps, this is why Santer participated in the video criticizing atmospheric satellite and balloon measurements.

ARTICLES: The Articles section is now at the bottom of TWTW.
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Climategate Continued

Beyonce Goes All In On RACISM: Honors Black Panthers… Hates On Cops

By: Terresa Monroe-Hamilton | NoisyRoom.net

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Several of the backing dancers posted this image online following their performance demanding ‘Justice 4 Mario Woods’ a black man shot dead by police in San Francisco in December of last year.

Racism sells. Beyonce is proof of that at the Super Bowl this last weekend. Rudy Giuliani is right… her performance was disgraceful and a slap in the face to every cop out there. This is real life, not black Hollywood. The performance promoted militant violence and was dangerous just as Giuliani said. Beyonce and her dancers dressed in militant black leather with bandoliers and Black Panther-style berets. They utilized the Black Power salute and performed Beyonce’s Formation, which is a black pride, Black Lives Matter, uber racist anthem if I’ve ever heard one. It also accuses cops of killing blacks and is just vile and raunchy beyond belief. The singers formed an X in deference to Malcolm X, who was a black radical revolutionary involved with the Student Non-violent Coordinating Committee and was also a member of the Nation of Islam. Nice. You know who I’m disappointed in? Bruno Mars. He dressed in the same garb as Beyonce and a majority of the performers were of course black… except for Coldplay. This was the most racist, cop-hating atrocity yet.

All this Black Lives Matter crap where the dancers hold up a sign saying ‘Justice 4 Mario Woods’ is just deplorable. He was a black man shot by police in San Francisco when he would not drop the knife he was brandishing. He was a gang member and had just stabbed someone. Still armed with the kitchen knife allegedly used in the stabbing, Woods was reportedly pepper-sprayed and shot with less-lethal beanbag ammunition, but was still standing and refusing to surrender, according to police. Officers demanded he drop the knife, but Woods moved towards an officer who was approaching him and was subsequently shot 15 times. Gee, another thug in the midst of a crime who gets shot and killed and the activists screamed it was unnecessary. In whose world? He threatened cops after committing a violent crime. In my book, no big loss there.

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This was militant racism on show. It obviously took aim at police officers who turned it off during the halftime show and other officers literally turned their backs on the show. I don’t want to see this crap much less have my kids see it. Former Illinois congressman turned radio host Joe Walsh also lashed out after Beyonce’s performance, writing; ‘Beyonce sings anti-police song at halftime after receiving police escort to the Super Bowl. Liberal hypocrite.’ He then added; ‘Halftime at the Super Bowl – an embrace of the Black Panthers & Black Lives Matter and an attack on our Police. Welcome to today’s America.’ Anticipation had been building for her performance after she unexpectedly dropped the music video for the song on Saturday. The video, the most political Beyonce has released, showed scenes of white police lining up against a black teenager and graffiti that reads ‘stop shooting us’. It’s obvious this was done for marketing, but I also believe she backs black militants and a potential racial uprising. It’s despicable. There is a reason that the Black Panthers were named ‘the greatest threat to the internal security of the country’ by FBI Director J. Edgar Hoover. And this is paying homage to the Nation of Islam and uber hatemonger Louis Farrakhan as well. Beyonce has gone all the way to the bottom and is scraping evil here. On Friday, Beyonce’s husband, Jay-Z, pledged $1.5 million to the Black Lives Matter movement.

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Giuliani was simply incensed over the whole display and I don’t blame him one little bit. ‘This is football, not Hollywood, and I thought it was really outrageous that she used it as a platform to attack police officers who are the people who protect her and protect us, and keep us alive,’ Giuliani said during an appearance on FOX & Friends Monday morning. ‘And what we should be doing, in the African-American community and in all communities, is build up respect for police officers and focus on the fact that when something does go wrong, OK, we’ll work on that.’

The Super Bowl is supposed to be all American and I hate to break it to the likes of Beyonce, but that includes all races. How would everyone like it if someone did a song honoring the KKK at halftime? That’s akin to what Beyonce accomplished when honoring the Black Panthers and Malcolm X the way she did. Sheriff Clarke expressed his disgust with her as well.

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Police were outraged over Beyonce’s performance and I’m not surprised by that. Michelle Obama dressed to salute the same racist theme and sought Beyonce’s approval on her outfit. Shameful. This performance should never have been approved and surely it was the blackest football team in history, the Carolina Panthers, who saw that it was sanctioned. Because Beyonce is black, she got a pass. That’s unjust in the extreme. Those same cops gave her an escort to that game and protected her while she was there. For their efforts, she insinuated they were killers. That arrogant hatred is despicable. She’s definitely aligned with Jay-Z and Kanye West on these issues. Many people boycotted the halftime celebration, if not the whole game over this. I can relate. Beyonce won’t apologize for this – like I said, racism sells.

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From the Daily Mail:

The Black Panthers were an infamous armed group that was founded in Oakland in 1966, close to where the Super Bowl is being played this evening, and operated during the Sixties and Seventies.

The group, once dubbed ‘the greatest threat to the internal security of the country’ by FBI director J Edgar Hoover, was formed in 1966 to combat oppression of black people in the U.S.

While previous civil rights activists such as Martin Luther King had advocated a policy of non-violence, the Panthers supported the use of force in order to hit at authorities and protect members.

Malcolm X, born Malcolm Little, was sent to prison in 1946 for larceny and breaking and entering after a life of petty crime and trouble with the law.

But once in prison he discovered Islam and joined the Lost-Found Nation of Islam, dropping his ‘slave’ last name and adopting the letter ‘X’, symbolic of a stolen identity, in its place.

After he was paroled from prison in 1952 Malcolm X went on to challenge the mainstream non-violent civil rights movement of Martin Luther King Jr.

Instead he called on his followers to defend themselves from white aggression ‘by any means necessary’, and advocated black rifle clubs.

His fundamental belief, taken from the teachings of Elijah Muhammad, was that the white man was the devil, and that blacks could never live in harmony with whites.

His autobiography, and numerous public speeches, formed the basis for the black power movement which gained popularity in the 1960s and 1970s.

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From KeyWiki.org on the Black Panthers:

The Black Panther Party was a militant African-American organization that “advocated guerrilla warfare as taught by Mao Tsetung and Che Guevara for achieving revolution in the United States.” On April 25th, 1967, the first issue of The Black Panther, the party’s official news organ, went into distribution. In the following month, the party marched on the California state capital, fully armed, in protest of the state’s attempt to outlaw carrying loaded weapons in public. Bobby Seale read a statement of protest; while the police responded by immediately arresting him and all 30 armed Panthers. This early act kindled the fires of the burning resistance movement in the United States; soon initiating minority workers to take up arms and form new Panther chapters outside the state.

And if you were curious what the Black Panthers wanted, here is their 10 Point Program – tell me if this doesn’t sound strangely familiar:

We Want Freedom. We Want Power To Determine The Destiny Of Our Black Community.

We believe that Black people will not be free until we are able to determine our destiny.

We Want Full Employment For Our People.

We believe that the federal government is responsible and obligated to give every man employment or a guaranteed income. We believe that if the White American businessmen will not give full employment, then the means of production should be taken from the businessmen and placed in the community so that the people of the community can organize and employ all of its people and give a high standard of living.

We Want An End To The Robbery By The Capitalists Of Our Black Community.

We believe that this racist government has robbed us, and now we are demanding the overdue debt of forty acres and two mules.

Forty acres and two mules were promised 100 years ago as restitution for slave labor and mass murder of Black people. We will accept the payment in currency which will be distributed to our many communities. The Germans are now aiding the Jews in Israel for the genocide of the Jewish people. The Germans murdered six million Jews. The American racist has taken part in the slaughter of over fifty million Black people; therefore, we feel that this is a modest demand that we make.

We Want Decent Housing Fit For The Shelter Of Human Beings.

We believe that if the White Landlords will not give decent housing to our Black community, then the housing and the land should be made into cooperatives so that our community, with government aid, can build and make decent housing for its people.

We Want Education For Our People That Exposes The True Nature Of This Decadent American Society.

We Want Education That Teaches Us Our True History And Our Role In The Present-Day Society.

We believe in an educational system that will give to our people a knowledge of self. If a man does not have knowledge of himself and his position in society and the world, then he has little chance to relate to anything else.

We Want All Black Men To Be Exempt From Military Service.

We believe that Black people should not be forced to fight in the military service to defend a racist government that does not protect us. We will not fight and kill other people of color in the world who, like Black people, are being victimized by the White racist government of America. We will protect ourselves from the force and violence of the racist police and the racist military, by whatever means necessary.

We Want An Immediate End To Police Brutality And Murder Of Black People.

We believe we can end police brutality in our Black community by organizing Black self-defense groups that are dedicated to defending our Black community from racist police oppression and brutality. The Second Amendment to the Constitution of the United States gives a right to bear arms. We therefore believe that all Black people should arm themselves for self- defense.

We Want Freedom For All Black Men Held In Federal, State, County And City Prisons And Jails.

We believe that all Black people should be released from the many jails and prisons because they have not received a fair and impartial trial.

We Want All Black People When Brought To Trial To Be Tried In Court By A Jury Of Their Peer Group Or People From Their Black Communities, As Defined By The Constitution Of The United States.

We believe that the courts should follow the United States Constitution so that Black people will receive fair trials. The Fourteenth Amendment of the U.S. Constitution gives a man a right to be tried by his peer group. A peer is a person from a similar economic, social, religious, geographical, environmental, historical and racial background. To do this the court will be forced to select a jury from the Black community from which the Black defendant came. We have been, and are being, tried by all-White juries that have no understanding of the “average reasoning man” of the Black community.

We Want Land, Bread, Housing, Education, Clothing, Justice And Peace.

When, in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume, among the powers of the earth, the separate and equal station to which the laws of nature and nature’s God entitle them, a decent respect of the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal; that they are endowed by their Creator with certain inalienable rights; that among these are life, liberty, and the pursuit of happiness. That, to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed; that, whenever any form of government becomes destructive of these ends, it is the right of the people to alter or abolish it, and to institute a new government, laying its foundation on such principles, and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and, accordingly, all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But, when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security.

Along with militant black power, the Black Panthers wanted communism, by any means necessary. The BPP was credited with coining one of the most offensive slogans of the era: “Off the pig,” which was a crude invitation to kill police officers. Another BPP slogan was “The Revolution has come, it’s time to pick up the gun!” It was out of this culture of militant violence, especially towards the police, that radicals like Eldrige Cleaver gained influence and that the Black Liberation Army eventually grew.

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The practices of the late Malcolm X were deeply rooted in the theoretical foundations of the Black Panther Party. Malcolm X was both a militant revolutionary and a role model. The Panthers followed Malcolm X’s belief of international working class unity across the spectrum of color and gender, and thus united with various minority and white revolutionary groups. From the tenets of Maoism they set the role of their Party as the vanguard of the revolution and worked to establish a united front, while from Marxism they addressed the capitalist economic system, embraced the theory of dialectical materialism and represented the need for all workers to forcefully take over the means of production.

While the BPP only flirted with the concept of fully cooperating with white radical groups in order to achieve their goals, several white radicals and leftist groups offered assistance to the BPP due to their shared anti-American worldview. For example, the eighth national convention of the Young Socialist Alliance (YSA) in December of 1968 met in Chicago and featured Black Panther Party speakers. The YSA fully supported armed black guerrilla warfare. “Both Hillary Clinton and Bill Lanh Lee began their political careers as law students at Yale by organizing demonstrations in 1970 to shut down the university and stop the trial of seven Panther leaders accused of ordering the torture and execution of a black youth named Alex Rackley.”

Eldrige Cleaver believed that the success of the struggle ultimately depended on replicating the communist revolutions that had already taken place in other parts of the world. “If you look around the world,” he wrote, “you will see that the only countries which have liberated themselves and managed to withstand the tide of counter-revolution are precisely those countries that have strongly Marxist-Leninist parties.”

Author Paul Berman said, “The scary nature of the Panther movement was easy enough to detect. The paramilitary leather uniforms, the titles like ‘Minister of Information’ and ‘Minister of Defense,’ the jailhouse tone, the apology for rape in Cleaver’s writings, the lapses into anti-Semitism, the assassination campaigns against the police – everything advertised the terror and dictatorship that were bound to spring from Panther power, if the party ever had the bad luck to acquire any.”

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Beyonce had the opportunity to reach millions and bring people together. Instead, she deliberately stirred racial animosity and pushed militant black pride above patriotism and love of country. Cops are not indiscriminately killing black people. They have one of the world’s toughest jobs and they put their lives on the line every day for all us… even Beyonce. She brought black liberation politics to the Super Bowl and it was a disgrace.

The choreography wasn’t restricted to the football field; the halftime show was part of a marketing plan that put out messaging across multiple platforms, from social media to mainstream media. Our kids are seeing this and many will be swayed by hate because of it. They will learn to hate cops and love revolution, racial division and militancy. That’s not who we are. It’s ironic that Beyoncd Knowles and Jay-Z owe their success to the capitalist system the leftist Black Lives Matter movement is intent on destroying. Jay-Z’s story of going from rags to riches is well-known, as he went from being a drug dealer in the projects of New York to becoming an entertainment star and entrepreneur. Beyonce is the child of a small business owner and a sales manager for Xerox. Both biographies fly in the face of the Black Lives Matter narrative that black people somehow need to be “liberated” from the free market. Beyonce is making a ton of money from racism and promoting and glorifying black revolutionary movements. Not only does racism sell, hate is pretty profitable as well. This is definitely the cultural rot and decay that Rush Limbaugh referred to.

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The Black Panthers, once dubbed 'the greatest threat to the internal security of the country' by FBI Director J Edgar Hoover, was a rights group that operated in the Sixties and Seventies.

The Black Panthers, once dubbed ‘the greatest threat to the internal security of the country’ by FBI Director J Edgar Hoover, was a rights group that operated in the Sixties and Seventies.

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The Panthers followed the teachings of Malcolm X, who believed that blacks and whites could not co-exist peacefully and advocated violence in order to protect his followers.

The Panthers followed the teachings of Malcolm X, who believed that blacks and whites could not co-exist peacefully and advocated violence in order to protect his followers.

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The Manic Drive To Return Land To Nature While Destroying Agriculture

Map_of_all_U.S._Federal_Land-777x437

(Right Side News has been reporting on this issue for years, see our resource page here)

Patrick Wood | Technocracy News

Since 1992, war on agriculture and food production in the United States has been under fierce attack, but the greatest heat has been felt in the West.

Ranchers have had their long-existing grazing and water rights methodically stripped away on Federal land. Farmers have been relentlessly sued by environmental groups and over-regulated by the government.

The so-called Sagebrush Rebellion was just gaining momentum when Ronald Reagan was elected in 1979. As a Westerner, even Reagan counted himself part of the Rebellion.

a-biodiversity-treaty

At the heart of the early stages of the Sagebrush Rebellion was the U.S. Forest Service (USFS) and the Bureau of Land Management (BLM). In the 35 years since 1979, the USFS and BLM have steadily advanced like a Sherman tank, treading over any who would resist and destroying any who would actually attack.

An ignorant and apathetic public never came to the aid of their beleaguered brethren, leaving them to crushing machine of the Federal government. This could change shortly, because the recent Bundy (Nevada) and Hammond (Oregon) confrontations have raised public awareness of the resurgent Sagebrush Rebellion.

The larger picture is seen with the U.N.’s Convention on Biological Diversity (CBD), which was opened for signature at the Earth Summit in Rio De Janeiro in June 1992. The Earth Summit also codified and produced Agenda 21 (Agenda for the 21st Century).

President Clinton signed the CBD treaty on 04 June 1993, but ratification was flatly rejected by the Senate after the above map was introduced on the Senate floor. However, ratification aside, the Executive Branch has steadfastly prosecuted the CBD’s policies and agenda until the present, primarily through operations of the BLM and USFS.

Who has mostly felt the increasing pressure of the BLM and USFS?  Ranchers, farmers and anyone else who creates wealth from the land (lumber, mining, etc.).

This writer has thoroughly documented the connection between Technocracy, the Trilateral Commission and the United Nations’ Agenda 21/2030 Agenda plan for the world. The CBD is a central component to the transformation process sought by Technocracy: to return arable land to wilderness state and to drive rural populations into mega-cities where they can more easily be managed. (See Technocracy Rising: The Trojan Horse of Global Transformation)

While the Sagebrush Rebellion has a name and increasing pubic visibility, agricultural farmers are not so fortunate. A recent press release from the National Alliance for Environmental Reform (NAER) seeks to rectify that:

Powerful new film documents devastating impact of
environmental lawsuit abuse on California’s Central Valley

SACRAMENTO, CA — The National Alliance for Environmental Reform (NAER) today released a “powerful and provocative” new documentary film entitled “Dead Harvest,” about the devastating impact federal laws and environmental lawsuits restricting water are having on farms, towns and agricultural workers in California’s Central Valley, and increasingly on the state’s urban areas.

Written and directed by Emmy Award-winning filmmaker Ray McNally, “Dead Harvest” can be viewed at www.NAER.info.

“California’s Central Valley is the most abundant and productive agricultural land in the world,” said NAER board member Jack Stewart, who recently retired as president of the California Manufacturers and Technology Association.

“From fruits, nuts and vegetables, to beef, milk and cheese, a quarter of America’s food is produced here — and yet nearly a million acres have already been forced out of production because of a relentless onslaught of lawsuits filed by environmental groups that want to return large portions of the valley to desert by cutting off its water,” said Stewart.

“Despite costing thousands of jobs and billions in lost economic activity, virtually no one living outside the valley knows what’s happening here,” said Stewart. “‘Dead Harvest’ brings the crisis to life, detailing the devastating human and economic cost of these lawsuits, the hypocrisy of those filing them, and the damage they’re doing to California’s economy.

“It’s a powerful and provocative story that’s finally being told.”

The following film is highly recommended:

Super Bowl Halftime Anti-Police Rally

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Dawn Perlmutter | Front Page Magazine

Angry raised fists and Beyoncé’s glorification of the Black Panther Party.

Beyoncé’s glorification of the Black Panther Party during the Pepsi Super Bowl halftime show is the latest example of the war on police. In a tribute to the 50th anniversary of the founding of the militant anti-police group The Black Panther Party (BPP), Beyoncé’s backup dancers wore the groups signature black berets, 60’s Afro hairstyles and raised their fists in the classic Black Power gesture of the group. During the performance on the field the dancers formed an ‘X’ which has been described as an homage to Malcom X, the ideological inspiration for the Black Panther Party. After the performance Beyoncé’s dancers posed with a sign that read “Justice 4 Mario Woods”, a career criminal and gang member who was shot and killed by San Francisco police after slashing a man with a knife and threatening others.

Many media reports of the performance applauded Beyoncé’s use of the Super Bowl halftime show to showcase her political message on racism and police brutality.  This is consistent with the liberal medias characterization of the Black Panthers as an important civil rights movement regardless of the fact that they were a violent anti-police organization. The Black Panther Party (BPP) was founded in 1966 by Huey Newton and Bobby Seale in Oakland, California, close to where the Super Bowl 50 was played. They believed that Martin Luther King’s non-violent protests had failed and they advocated the use of force and armed self-defense in order to obtain freedom from white oppression. They protested against police brutality and used violence to achieve their revolutionary goal of igniting a race war in the United States. The Black Panthers coined the phrase off the pigs and openly advocated the killing of police officers as a form of political protest and justice. DiscoverTheNetworks reveals that “while they were radical icons by day, by night the Panthers grew into a criminal organization that engaged widely in drug dealing, pimping, extortion, theft, assault, and homicide. Indeed, BPP members were arrested 348 times for murder, armed robbery, rape, and burglary in 1969 alone.”

Black Panthers were responsible for at least 15 murders of law enforcement officers and wounded many more in ambush style attacks. They tortured and murdered their own members. In 1969 three New Haven Chapter Black Panther Party members tortured and murdered 19 year old Alex Rackley because they thought he was a police informant. In 1974 Betty Van Patter, the Panthers bookkeeper, went missing after a dispute over financial irregularities. Her brutally beaten body was found on a San Francisco beach a few weeks later. She had been raped and tortured. In 1977 the Black Panther Party’s assistant chief of Staff attempted to assassinate a key prosecution witness in the infamous murder trial of one of the founders Huey Newton. These are just a few of the violent incidents committed by the group that Beyoncé paid tribute to during America’s unofficial national holiday Super Bowl Sunday.

The song that Beyoncé sang during her half time political rally is titled ‘Formation’ and has been described as a celebration of black pride but it is more of a witchy race baiting anti-police anthem. The Formation video is filled with symbolism of black nationalist groups and depicts among other things historical representations of Beyoncé and others as creole women in various era clothing, Beyoncé as a Marie Laveau type voodoo queen, police offers in riot gear, Beyoncé on top of a sinking New Orleans police car, an image of a black child in a hoodie dancing in front of a line of police officers and graffiti that reads ‘Stop Shooting Us’.  The video was released one day before the super bowl. Just prior to the release the music streaming service Tidal, run by her rapper husband Jay-Z donated one and half million dollars to Black Lives Matter. The combination of the video, the controversy of her halftime show and the huge donation will inevitbaly make ‘Formation’ the Black Lives Matter theme song.

The Black Lives Matter movement was inspired by the Black Panther Party and another violent anti-police group the Black Liberation Army. The Black Liberation Army (BLA) founded in 1970 was comprised of former Black Panthers and was responsible for the murders of 13 law enforcement officers. On May 21, 1971, five members killed two New York City police officers, Joseph Piagentini and Waverly Jones. On August 29, 1971, three members murdered John Victor Young, a San Francisco police sergeant, while he was working at a desk in his police station. On January 27, 1972 members assassinated police officers Gregory Foster and Rocco Laurie in New York City. On November 3, 1971, Officer James R. Greene of the Atlanta Police Department was shot and killed in his patrol van at a gas station. On May 2, 1973, Joanne Deborah Chesimard aka Assata Shakur, with two other Black Liberation Army accomplices, killed New Jersey State Trooper Werner Foerster execution style at point blank range during a routine traffic stop on the New Jersey Turnpike. Chesimard was convicted and sentenced to life in 1977, but escaped from prison in 1979 and has lived comfortably in Cuba ever since.

The Black Lives Matter movement has glorified Joanne Chesimard aka Assata Shakur as a political prisoner. At many of BLM protests you will see activists wearing shirts that read ‘Assata Taught Me’ a reference to Assata teaching them to fight oppression. Although Chesimard is on the FBI’s most wanted terrorists list there is a Hands Off Assata movement. Chesimard is similar to Wesley Cook aka Mumia Abu-Jamal who murdered Philadelphia police officer Daniel Faulkner on December 9, 1981. Both were convicted cop killers who were transformed into Folk heroes through leftist revisionist history. Cook was a former Black Panther. Chesimard was a member of the Black Liberation Army. The Black Panther Party and the Black Liberation Army are the ideological inspiration for Black Lives Matter. Beyoncé was celebrating these anti-police cop killing groups at the 50th Super Bowl Halftime show.

The fact that the super bowl, the very symbol of American identity, sanctioned Beyoncé’s performance demonstrates that the mythology of institutional racism and the war on police just reached a new level of incitement. The signs are everywhere. There has been a tremendous increase in anti-police graffiti and desecration of fallen officer memorials. There have been 9 new incidents of police memorials being vandalized since I wrote about this in September 2015. Symbolic violence precedes actual violence. Making martyrs and folk saints out of criminals like Mike Brown and Mario Woods inspires other disaffected youth to confront police. Similar to lone wolf jihadist terrorists they know that they will be glorified by protesters and activists and live forever in murals and social media campaigns. Giving validity to false narratives, creating a hero mythology of convicted cop killers and glorifying domestic terrorist groups that target and assassinate police as civil rights movements has real life consequences. Beyoncé thinks it is hip and fashionable to foment racism and disrespect for police yet she did not turn down a highway clearing police escort to the stadium. Apparently the diva is a BLM pretender. #Beyoncéslifematters.

SOURCE: FRONT PAGE MAGAZINE

Islam’s Sword Comes for Christians

  • It was very difficult above all when they said, ‘Become Muslim or we’ll cut your head off.'” — Rev. Jacques Mourad, Syriac Catholic priest, Syria.
  • “The only reason they [Muslim authorities] let you go is when they torture you to death…. They don’t want you to die in prison, it’s not their responsibility, so they send you home to die.” — Helen Berhane, gospel singer, Eritrea.
  • “[I]f they fear that people are offended by being surrounded by Christian symbols, then perhaps those [Muslim] people applied for asylum in the wrong country.” — A speaker for the Progress Party, Norway, on being asked to remove crosses from Christian camp sites to accommodate Muslim asylum seekers.

Hostility for Christmas was on full display. On Christmas Day, Muslims in Bethlehem, as documented here, set a Christmas tree on fire and greeted the Latin Patriarch of Jerusalem with a hail of stones; in Belgium, Muslim “refugees” set fire to a public Christmas tree; in Nigeria, Muslim jihadis attacked churches during Christmas mass and killed at least 16; in the Philippines, on Christmas Eve, Muslim jihadis slaughtered 10 Christians to “make a statement;” in Bangladesh, churches skipped Christmas mass, due to assassination attempts on pastors and death threats against Christians; in Indonesia, churches were on “high alert,” with 150,000 security personnel patrolling; in Iran, Christians celebrating Christmas in homes were arrested; and three Muslim countries — Somalia, Tajikistan, and Brunei — formally banned any Christmas celebrations.

Earlier in December, in the United States, in San Bernardino, California, Mohamed Ahmed Elrawi, 57, a Muslim, pulled out a sword and, saying he would “Die and kill for Allah,” chased his neighbor, Mark Tashamneh a Christian of Jordanian descent. Tashamneh escaped and called police. After they arrested Elrawi on suspicion of attempted murder, they found in his apartment evidence suggesting that he is a “radicalized Muslim.” While police were escorting Elrawi out of his apartment, Elrawi said in Arabic to Tashamneh that he would kill him. “I’m a Christian,” Tashamneh told reporters. “I’m happy … and I believe what I believe. I am not against what he believes, but he apparently has a problem with me and came and threatened me.”

In Uganda, in separate incidents, Muslims slaughtered two Christian leaders with swords. Patrick Ojangole, a 43-year-old Christian father of five, was hacked to death. He had also supported several children whose families had disowned them for leaving Islam. According to Ojangole’s friend, who survived, they had been traveling to their village when they saw Muslim women covered in burqas sitting on the road: “Because it was late in the evening, we thought they needed some help from us, so we stopped, and while we were still talking with them, a man arrived [followed by two more men] … The two women immediately pulled out swords from their burqas and gave them to the men.” One of the three Muslim men reproached Patrick Ojangole’s for refusing to cease his Christian activities. Then the Muslims killed him. “Patrick was a very committed Christian and a hard-working farmer,” said the friend. “From his farm work, he used to support 10 children from Muslim families who had been ostracized by their families.” Ojangole’s five children range in age from seven to sixteen.

Separately, a pastor was also hacked to death and beheaded after he and other church members resisted efforts by local Muslims to seize land belonging to the church. When pastor Bongo Martin, 32, confronted them, the imam of the Muslim group said, “We have told you many times that we do not want the church to be located near our mosque. Your church has been taking our members to your church.” Then a Muslim, Abdulhakha Mugen, pulled out a sword and struck the pastor’s neck. Martin instantly collapsed but Mugen kept hacking at him until he was decapitated. His body was later found floating the river.

In a predominantly Muslim village in Uganda, after a Bible study, an additional five underground Christians, including a pregnant mother, died from poisoning.

The rest of December’s roundup of Muslim persecution of Christians around the world includes, but is not limited to, the following:

Muslim Attacks on Christian Churches and Symbols

Italy: While shouting “Allahu Akbar!” [“Allah is the Greatest!”], two Muslim men, one Palestinian the other Tunisian, attacked and tried to disarm soldiers stationed outside Santa Maria Maggiore cathedral in Rome. According to Italian media, “[W]hen police intervened, the two men aged, 40 and 30, called other foreigners in the area to their aid, and assaulted and threatened the arresting officers. After they were taken to the police station, they continued to speak out against law enforcement and Europe in both Arabic and Italian. They were charged with resisting and threatening an officer and instigation to commit a crime with intent to commit terrorist acts, slapped with an expulsion order, and taken to a migrant reception center in the southern city of Bari prior to repatriation.”

Egypt: A church which had obtained the necessary permits required for construction, and was under construction, in Swada village, Minya, was attacked on December 10 by a mob of at least 400 Muslims, incited by local officials. “They destroyed the marble, ceramics, cement, wood and church’s signs inside the buildings and destroyed the contents of the building, and attacked and injured some of the workers,” said a local man. After the attack, the same officials who incited the attack pointed to it as the reason to outlaw the church. The population of Swada is about 35% Christian, or 3,000 people, and there is not a single Coptic Orthodox church to serve them.

Separately, the ancient Paromeos monastery was threatened online by jihadists. The monastery, dedicated to the Virgin Mary, was built more than two hundred years before Islam overran Christian Egypt. Although the ancient monastery receives police protection, Christian activists are calling for greater security measures in response to increasing threats.

Yemen: Days after the Islamic State (ISIS) assassinated Aden city’s governor, an abandoned Catholic church was blown up. “The gunmen,” according to a resident, “who were probably extremists, blew up the [Immaculate Conception] Catholic church in the Mualla district of Aden… The building was completely destroyed.” The church had already been severely damaged after a Saudi-led coalition air strike last May. Reuters wrote: “Once a cosmopolitan city, home to thriving Hindu and Christian communities, Aden has gone from one of the world’s busiest ports as a key hub of the British empire to a largely lawless backwater. Its small Christian population left long ago. Unknown assailants had previously vandalized a Christian cemetery and torched another Aden church this year.”

Iraq: ISIS bombed a monastery that belonged to nuns in the Christian village of Tel Kepe. Ten Assyrian Christian homes were also bombed and several people injured. Separately, in Kirkuk, a cemetery used by the Assyrian Church and the Syriac Orthodox church was vandalized. Crosses and tombstones were broken, and graves opened. The identity of the perpetrators is unknown. Chaldean Patriarch Louis Sako condemned the destruction of the cemeteries. He said, “We live in difficult conditions…”

In December 2015, a Christian cemetery in Kirkuk, Iraq was vandalized. Crosses and tombstones were broken, and graves opened.

Turkey: Groups believed to be associated with ISIS issued death threats to at least 20 evangelical churches via social media, email, and mobile texts. They included “upsetting videos and pictures” said a human rights activist. Suspected Islamic State militants reportedly said they “are tired of waiting” for Muslims who had converted to Christianity to return to Islam. “Koranic commandments… urge us to slay the apostate like you,” said one message.

Bangladesh: “He who preaches Christianity must leave the country or die” were the words of an anonymous letter sent to ten leaders of Protestant Christian churches. An additional four church leaders narrowly escaped attempts on their lives, causing the nation’s churches to cancel Christmas Day church services.

Cameroon: Boko Haram jihadis invaded a Christian village and torched a church and several homes. Up to 1,000 Christians – men, women and children – were affected. Eight were killed. After reducing everything the villagers had to ashes, the jihadis also set their food supplies on fire. The villagers are struggling to survive.

Muslim Slaughter of Christians

Nigeria: Seven Muslim Fulani herdsmen attacked two households and a compound for Christians who had already been displaced from earlier jihadi attacks. Fifteen Christians were slaughtered, including three children aged 1, 3, and 5, as well as their grandmother. According to her daughter, “My mother struggled with the gunmen until they finally shot her and the three kids,” said her daughter. “She died trying to save the three children.” According to one resident: “They had come to survey the village that Sunday morning while we were in our churches. The Fulani gunmen even asked our children to give them drinking water, which they did, but the kids did not suspect anything and did not inform us about this. It was only after the attack that we were told about the visit of the gunmen to our village.”

Central African Republic: Armed Muslim Seleka militants attacked a camp for internally displaced persons. They killed eight Christians and wounded one UN peacekeeper. Since Muslim Seleka seized power of the Christian-majority country in 2013, thousands of people have been killed. After months of massacres, rapes, and looting by armed Seleka, Christian anti-balaka (anti-machete) armed groups emerged to counter the Seleka. Although they see themselves as a Christian militia, the nation’s churches condemn their violent actions.

Egypt: A 70-year-old Christian woman was found stabbed to death in her house in what is now a Muslim majority nation. She had 10 stab wounds in her chest. Police were informed and the matter was reported as being under investigation.

Dhimmitude

Norway: Christian camp sites offered as shelter for asylum seekers were told by local authorities to remove Christian symbols. According to the report, to accommodate “the large influx of asylum seekers to Norway, immigration authorities found it necessary to lodge asylum seekers in more places than ordinary reception centres. The Norwegian Missionary Society offered several Christian camp sites, which authorities accepted as long as the missionary society took down any cross or other Christian symbols.” It agreed. But a speaker for the Progress Party said, “I understand that asylum centres should be politically and religiously neutral, but I interpret it so that the camps would not engage in active ministry, which is said they will respect. The cross however, is not just a religious symbol, but also a part of our heritage and part of our flag…. [I]f they fear that people are offended by being surrounded by Christian symbols, then perhaps those [Muslim] people applied for asylum in the wrong country.”

Eritrea: After finding a new life in Europe, Gospel singer Helen Berhane shared her experiences in Eritrea. She told of how she was locked in a shipping container and tortured for being Christian. At a conference in Rome, she said: “The only reason they [Muslim authorities] let you go is when they torture you to death…. They don’t want you to die in prison, it’s not their responsibility, so they send you home to die.” Berhane, who was arrested for evangelizing and releasing religious music, was released only after she became deathly ill.

Syria: A Christian priest who escaped to the West after being held for months by Islamic State in Raqqa shared his “very intense experience, from the spiritual point of view.” According to Syriac Catholic priest, Rev. Jacques Mourad: “It was very difficult above all when they said, ‘Become Muslim or we’ll cut your head off.'”

Turkey: After widespread international criticism, the nation’s schoolroom textbooks appear improved in several ways, including how non-Sunni Muslims are depicted. But they still contain biases against non-Muslim religions, said a new study. The “major weakness” is that the “textbooks are still written through the paradigm of the officially-sanctioned interpretations of Islam and Islamic culture. All religious minority traditions in the country are depicted within the Muslim context rather than as distinct traditions. In addition, only superficial, limited, and misleading information is given about religions other than Islam, such as Judaism, Christianity, Hinduism and Buddhism.” For example, instead of explaining that Christians view Jesus as the Son of God, an eighth-grade text depicts him as one in a line of Islamic prophets called by Allah, akin to the Islamic historiography about Muhammad: “When Jesus reached 30 years of age, Allah gave him the duty of being a prophet…. He then began inviting people to believe in Allah. At the start, only 12 people believed in his call. They are called the ‘disciples.'”

Pakistan: Mary Javaid, a Christian teacher at a female primary school in the Punjab, was accused of having “preached Christianity to Muslim girls.” A Muslim man, Muhammad Sharif, filed a complaint with the Department of Education containing accusations against Javaid which, according to human rights lawyer, Sardar Mushtaq Gill, are false, and instead represent yet another case of discrimination and abuse towards a Christian involved in the area of education. A few months earlier, a Catholic teacher, appointed headmaster at a primary school, was beaten and tortured by a group of Muslim teachers who spurned the authority of a Christian “infidel.”

Nigeria: Mercy, a 22-year-old Christian woman abducted by Boko Haram in June 2014 and rescued after five weeks, described her ordeal in the Islamic camp. In June 2014, members of Boko Haram overran her town and declared it an Islamic caliphate. At least 100 people were killed in the attack. She was seized from her home in the middle of the night. “Everyone in the town,” she said, “ran to save themselves. My dad and I were separated. I don’t know what happened to him. I think he died the same way many others died, because they refused to deny Christ.” She was marched off to a Boko Haram camp. “When we got to the place, there were about 50 other women. I recognised many other Christians, who had now become Muslims and were forced to undergo Islamic teaching…. My first day was like hell. I cried all day and all night. I prayed like never before and asked God to give me courage.” The next morning, Mercy and the others were taken to a clearing for questioning and asked to convert to Islam.

The four other girls were very scared and immediately agreed. I pleaded that they allow me to remain a Christian, but my pleas fell on deaf ears. They beat me and told me to never mention Christianity in the camp again. Then they told me that they would arrange a husband for me. … We were forced to attend prayers at 5am. After that, we were sent to a madrassa [Islamic school]. There was only a short break. After we were given a little food, we returned to the madrassa. They constantly told us to work hard for the advancement of Boko Haram. In the afternoon we were dispersed to do our chores, such as washing the men’s clothes…. I witnessed constantly how Boko Haram members killed innocent people. Christian men who were captured and brought to the camp were killed for refusing to deny their faith. [It was like] the fulfilment of the [things written in the] Bible played out in front of my eyes, as people died for their faith in Christ. But others, including me, could not endure the torture and gave in to their demands.

Mercy was eventually “married” off to a Muslim man and without giving any details only said, “Every single day came with tears and fears for the unknown.”

About this Series

While not all, or even most, Muslims are involved, persecution of Christians is expanding. “Muslim Persecution of Christians” was developed to collate some — by no means all — of the instances of persecution that surface each month.

It documents what the mainstream media often fails to report.

It posits that such persecution is not random but systematic, and takes place in all languages, ethnicities and locations.

Raymond Ibrahim is author of Crucified Again: Exposing Islam’s New War in Christians (published by Regnery in cooperation with Gatestone Institute, April 2013).

Previous reports

Source: GATESTONE

Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here

Europe Lightning - Public Domain

Michael Snyder

There is so much chaos going on that I don’t even know where to start.  For a very long time I have been warning my readers that a major banking collapse was coming to Europe, and now it is finally unfolding.  Let’s start with Deutsche Bank.  The stock of the most important bank in the “strongest economy in Europe” plunged another 8 percent on Monday, and it is now hovering just above the all-time record low that was set during the last financial crisis.

Overall, the stock price is now down a staggering 36 percent since 2016 began, and Deutsche Bank credit default swaps are going parabolic.  Of course my readers were alerted to major problems at Deutsche Bank all the way back in September, and now the endgame is playing out.  In addition to Deutsche Bank, the list of other “too big to fail” banks in Europe that appear to be in very serious trouble includes Commerzbank, Credit Suisse, HSBC and BNP Paribas.  Just about every major bank in Italy could fall on that list as well, and Greek bank stocks lost close to a quarter of their value on Monday alone.

Financial Armageddon has come to Europe, and the entire planet is going to feel the pain.

The collapse of the banks in Europe is dragging down stock prices all over the continent.  At this point, more than one-fifth of all stock market wealth in Europe has already been wiped out since the middle of last year.  That means that we only have four-fifths left.  The following comes from USA Today

The MSCI Europe index is now down 20.5% from its highest point over the past 12 months, says S&P Global Market Intelligence, placing it in the 20% decline that unofficially defines a bear market.

Europe’s stock implosion makes the U.S.’ sell-off look like child’s play. The U.S.-centric Standard & Poor’s 500 Monday fell another 1.4% – but it’s only down 13% from its high. Some individual European markets are getting hit even harder. The Milan MIB 30, Madrid Ibex 35 and MSCI United Kingdom indexes are off 29%, 23% and 20% from their 52-week highs, respectively as investors fear the worse could be headed for the Old World.

These declines are being primarily driven by the banks.  According to MarketWatch, European banking stocks have fallen for six weeks in a row, and this is the longest streak that we have seen since the heart of the last financial crisis…

The region’s banking gauge, the Stoxx Europe 600 Banks Index FX7, -5.59% has logged six straight weeks of declines, its longest weekly losing stretch since 2008, when banks booked 10 weeks of losses, beginning in May, according to FactSet data.

The current environment for European banks is very, very bad. Over a full business cycle, I think it’s very questionable whether banks on average are able to cover their cost of equity. And as a result that makes it an unattractive investment for long-term investors,” warned Peter Garnry, head of equity strategy at Saxo Bank.

Overall, Europe’s banking stocks are down 23 percent year to date and 39 percent since the peak of the market in the middle of last year.

The financial crisis that began during the second half of 2015 is picking up speed over in Europe, and it isn’t just Deutsche Bank that could implode at any moment.  Credit Suisse is the most important bank in Switzerland, and they announced a fourth quarter loss of 5.8 billion dollars.  The stock price has fallen 34 percent year to date, and many are now raising questions about the continued viability of the bank.

Similar scenes are being repeated all over the continent.  On Monday we learned that Russia had just shut down two more major banks, and the collapse of Greek banks has pushed Greek stock prices to a 25 year low

Greek stocks tumbled on Monday to close nearly eight percent lower, with bank shares losing almost a quarter of their market value amid concerns over the future of government reforms.

The general index on the Athens stock exchange closed down 7.9 percent at 464.23 points — a 25-year-low — while banks suffered a 24.3-percent average drop.

This is what a financial crisis looks like.

Fortunately things are not this bad here in the U.S. quite yet, but we are on the exact same path that they are.

One of the big things that is fueling the banking crisis in Europe is the fact that the too big to fail banks over there have more than 100 billion dollars of exposure to energy sector loans.  This makes European banks even more sensitive to the price of oil than U.S. banks.  The following comes from CNBC

The four U.S. banks with the highest dollar amount of exposure to energy loans have a capital position 60 percent greater than European banks Deutsche Bank, UBS, Credit Suisse and HSBC, according to CLSA research using a measure called tangible common equity to tangible assets ratio. Or, as Mayo put it, “U.S. banks have more quality capital.”

Analysts at JPMorgan saw the energy loan crisis coming for Europe, and highlighted in early January where investors might get hit.

“[Standard Chartered] and [Deutsche Bank] would be the most sensitive banks to higher default rates in oil and gas,” the analysts wrote in their January report.

There is Deutsche Bank again.

It is funny how they keep coming up.

In the U.S., the collapse of the price of oil is pushing energy company after energy company into bankruptcy.  This has happened 42 times in North America since the beginning of last year so far, and rumors that Chesapeake Energy is heading that direction caused their stock price to plummet a staggering 33 percent on Monday

Energy stocks continue to tank, with Transocean (RIG) dropping 7% and Baker Hughes (BHI) down nearly 5%. But those losses pale in comparison with Chesapeake Energy (CHK), the energy giant that plummeted as much as 51% amid bankruptcy fears. Chesapeake denied it’s currently planning to file for bankruptcy, but its stock still closed down 33% on the day.

And let’s not forget about the ongoing bursting of the tech bubble that I wrote about yesterday.

On Monday the carnage continued, and this pushed the Nasdaq down to its lowest level in almost 18 months

Technology shares with lofty valuations, including those of midcap data analytics company Tableau Software Inc and Internet giant Facebook Inc, extended their losses on Monday following a gutting selloff in the previous session.

Shares of cloud services companies such as Splunk Inc and Salesforce.com Inc had also declined sharply on Friday. They fell again on Monday, dragging down the Nasdaq Composite index 2.4 percent to its lowest in nearly 1-1/2 years.

Those that read my articles regularly know that I have been warning this would happen.

All over the world we are witnessing a financial implosion.  As I write this article, the Japanese market has only been open less than an hour and it is already down 747 points.

The next great financial crisis is already here, and right now we are only in the early chapters.

Ultimately what we are facing is going to be far worse than the financial crisis of 2008/2009, and as a result of this great shaking the entire world is going to fundamentally change.

Source: Economics Collapse Blog