Wednesday, November 30, 2016

Situation ethics from Leo X to Pope Francis

Situation ethics from Leo X to Pope Francis
With interest rates too low, usury-loving Catholic nuns turn to the market

Like the Vatican Bank and 21st century Catholics generally, these nuns in the news report that follows have no moral qualms about despising low interest rates and seeking an alternative investmentuntil their prayers that interest rates go up can be answered. 
  
Contrary to heated denials from “Conservative” and “traditional” Catholics, the Church of Rome did indeed begin, during the Renaissance, to gradually overthrow its immemorial dogmatic law in conformity with situation ethics. Until the pontificate of Pope Leo X (1515), all profits on loans were a mortal sin requiring confession, restitution and absolution before the lender could be readmitted to Communion. Unrepentant usurers were refused Communion and burial in sacred ground. This writer’s study, “Usury in Christendom: The Mortal Sin that Was and Now is Not,” contains documentation demonstrating that situation ethics predates the pontificate of Pope Francis by five centuries.

Usury rates were too low for this usury-dependent order of Catholic nuns. Consequently, according to the Wall Street Journal, they turned to the stock market.  Michael Hoffman
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Get Thee to a Brokerage! 
Low Rates Turn Nuns Into Traders 
Sister Lioba manages German convent’s $2 million portfolio; a 2.6% return

By Georgi Kantchev 
Wall Street Journal, Front page, Nov. 30, 2016

MARIENDONK NUNNERY, Germany—On a recent morning, Sister Lioba Zahn read the Bible, attended prayer, did the laundry and then prayed again. In the afternoon, she called her bank and started trading. Ultralow and negative interest rates have hit savings and investments around the developed world, crushing the income that many mom and pop investors rely on. Mom, pop and Sister Lioba. 

For over a century, Mariendonk financed itself by selling milk and candles, and through income on its bank deposits. After the European Central Bank began cutting rates, eventually going all the way below zero to their current -0.4%, Sister Lioba realized her convent needed extra income to survive.“With rates so low, we must get a better return if we want to sustain the convent,” says Sister Lioba, who holds the position of “cellerarin,” a convent’s version of a chief financial officer. 

Back in 2013, the nunnery’s roof needed repairing and the only car that the 28 sisters owned was nearing the end of its life. Calling her bank, Sister Lioba was offered a seven-year savings bond that carried a 1% annual return. She said she couldn’t believe what she was hearing. 

“You don’t need to have studied mathematics to see that we were going down,” said Sister Lioba, who had studied psychology. 

After morning prayer, she gathered her fellow nuns into a wood-paneled room inside the convent and showed a PowerPoint on low interest rates.

Presiding over the meeting, Sister Christiana Reemts, Mariendonk’s abbess, made an observation. “Twenty years ago we could get enough money from interest to renovate our whole building,” she remembered saying. “Now the interest rate can bring tears to one’s eyes.” 

In Mariendonk, a decision was made and global markets had a new investor. Sister Lioba now runs a portfolio of roughly €2 million, or $2.1 million, from her convent office. 

“I started by googling what a swap is,” Sister Lioba says, referring to a derivative that allows an investor to exchange the income stream of one asset with that of another.

The 54-year-old then began studying the financial pages of German newspapers and her bank’s research notes.  “I now understand every third sentence instead every 10th when I started,” she says.

Carsten Klude, chief economist at Mariendonk’s house bank, M.M. Warburg & Co. KGaA, cautions against underestimating the nuns.  “People often think that the sisters don’t get much from the outside world behind the thick walls of the monastery,” said Mr. Klude, who visits there several times a year. “But they have actually proven themselves to be quite the savvy investors.”

Last year, their portfolio yielded 2.6%. That is above the 0.3% return on German government debt but below the 9.6% the DAX stock market index returned last year. The Church of England has a portfolio valued at around £7 billion, or $8.7 billion, invested in assets including timber and hedge funds, and the Vatican has billions of assets tied up in real estate and private equity.

Mariendonk, an independent convent that receives little financial support from the Catholic Church, is a less likely addition to the fast-paced world of global investing. The red-brick convent is reached by a country road that snakes past farms, mills and sheep in the west German countryside.

Like many investors, Sister Lioba remembers the first stock she bought: Novo-Nordisk AS , a Danish drug company. She bought it in late 2013 and its value increased by around a third before she sold it earlier this year at a profit. “My only regret is why we didn’t buy some more at the time,” she says.

Her best trade so far: selling Deutsche Bank AG just before the financial giant’s stock started tanking. She also sold shares in Volkswagen AG in the fall of 2015, ahead of accusations that the German auto maker had cheated emissions tests. “Once those were stocks that you could take with you to bed,” she said. “Good that we got out in time.”

On the other hand, French bank BNP Paribas SA, Germany’s Daimler AG and telecom provider Telefónica Deutschland Holding AG , have all been losers for Mariendonk. To protect against such losses, Mariendonk says it never invests more than 4% of the overall portfolio in one asset.

Like other investors, Sister Lioba worries she could end up taking on too much risk as she joins the global hunt for yield. Traditional havens such as bonds offer such low returns that Mariendonk now invests around a third of its money in stocks, which are typically more volatile than fixed-income investments. Before rates fell below zero in 2014, the nunnery invested less than a quarter of its portfolio in equity.

Sister Lioba looks at three criteria: yield, low risk and moral acceptability. She has declined offers to invest in some oil companies and says emerging markets don’t match Mariendonk’s risk profile.


Michael Hoffman is the author of The Occult Renaissance Church of Rome, forthcoming in 2017 from Independent History and Research
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Monday, November 28, 2016

Wake someone up this Christmas!

Wake someone up this Christmas 
Truth makes a great gift! 

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Martin Luther and Zinskauf: The German Reformation in the Struggle Over Usury. No. 65. $8.00

Modern German & Islamic Resistance to Usury. No. 64. $7.00

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Judaism in the American South after the Civil War. No. 54. $8

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Martin Luther: On the Jews. Read by Michael Hoffman on eight audio CDs. Also includes the introductory CD no. 1, containing Hoffman’s history of Luther’s relationship with Judaism, contending that Luthers "On the Jews and their Lies" was composed when Luther was at the height of his powers and was fully representative of his theology. Michael presents the pros and cons of Luther’s teachings on Judaism. CDs 2-9 consist of Hoffman’s complete dramatic reading of Luther’s book. This is the only recording of Luther’s controversial book in existence. Boxed set of 9 CDs. More than 8 hours of listening. $64.95 

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Eisenmenger and his Banned Work. Explains significance of Johann Andreas Eisenmenger’s incomparable research and why we should preserve the memory of this heroic German scholar and colossus of learning, who dedicated his life to truth and surpassed the rabbis in knowledge of their own texts in his banned masterpiece, Entdecktes Judenthum, and its checkered publishing history. 70 minutes. $9.95

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The Other Side of The Talmud Debate. Part One consists of a 20-minute video of a lecture given at Oxford University by Dr. Asaf Yedidya: “Nazi Attacks On The Talmud: Anti-Semitic Readings of Jewish Texts.”  Dr. Yedidya is “lecturer in Jewish History at the Center for Jewish Studies at Bar-Ilan University.” Part Two is a 19-minute video of Christian scholar Michael Hoffman’s response to Dr. Asaf Yedidya’s lecture. In his reply, Hoffman points out misdirection and censored texts in the Oxford lecture and the inaccuracies and omissions employed in order to demonize Talmud critics and uphold the alleged benevolence of the Talmud. DVD. 40 minutes. $14.95

Goldstein’s Massacre at the Mosque. Raw footage and newscasts tell of the now-forgotten Israeli terrorist Baruch Goldstein, the mass murderer who slaughtered 40 Palestinian civilians in 1994. Watch as Israeli settlers applaud the bloodshed in a most depraved and callous manner. Graphic, must-see evidence of the racist, genocidal mentality which the Talmud generates among Israelis. DVD. $15.95 

History of Catholic and Protestant Usury. College-level course. Nearly two hours. In this lecture in Lansing, Michigan, historian Michael Hoffman covers the contents of his book Usury in Christendom: The Mortal Sin that Was and Now is Not and answers challenging questions from the audience. Here is a unique opportunity to learn and understand what Christ, the Bible, the medieval thinkers and the Church taught about profit from loans and how that sacred doctrine, faithfully upheld for nearly 1500 years, was first overthrown by the situation ethics of the Church of Rome. Here’s a detailed rebuttal to the laissez-faire Shylock economics which today controls the Conservative movement, the Church of Rome and most Protestant churches, rendering us impotent against our plutocratic enemies, and making a mockery of true Christianity. Set of two DVDs. $22.95

The Mystery of Göbekli Tepe. Michael presents his study of the oldest known temple in the world, located in southeastern Turkey and estimated to have been built between 11,000 and 12,000 years ago. He regards it as a hieroglyphic mythogram from deep antiquity linked to some of earth’s most profound mysteries. 45 minutes. DVD. $15.95

The Seduction of Judeo-“Christianity” by Orthodox Judaism. Hoffman makes it clear: there is no possibility of an alliance between Christianity and Judaism, even on issues such as family values, as deluded “Conservatives” imagine. He demonstrates Orthodox Judaism’s hidden side: child molestation, homosexuality, blasphemy against Jesus and Mary, Messiah-denial, deprecation of the Biblical patriarchs, including Moses; as well as magic and paganism. Includes questions from the congregation at America’s Promise Bible Church in Idaho, and Michael’s replies. 49 minutes. DVD. $15.95

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World War Two Revisionist Charles Provan. The late Charles Provan was an authority on Nazi SS Judge Konrad Morgen. Provan discusses anomalies in the official history of WWII in light of Morgen’s investigative career. He spotlights many hidden and forbidden facts about World War War II. Approx. 55 minutes. DVD. $16.95 

Issues in Biblical Exegesis. Bible scholar Charles Provan is interviewed concerning sensitive Scriptural issues, including what the Bible and the early Church teach about homosexuality, abortion, masturbation and birth control. In part two, Provan discusses the conditional nature of Biblical prophecy, misuse of the Bible by pro-Zionist fundamentalists; the thickets of Pauline theology, Nietzsche’s critique of Christianity; race and nationalism, destruction of the 2nd temple and the drive to build the 3rd Temple. Due to mature nature of the topics this is for adults only. 45 minutes. DVD.  $16.95

Great Holocaust Trial DVD. Michael Hoffman’s documentary film on the 1985 show-trial of Ernst Zundel, prosecuted in Toronto for publishing the pamphlet, Did Six Million Really Die? Edited from more than one hundred hours of establishment TV newscasts about the trial. 67 minutes. A classic. DVD. $16.95 

World War Two Revisionists: Ditlieb Felderer. Pioneering forensic investigator of Auschwitz who is of Judaic descent, is interviewed concerning gas chambers, Anne Frank’s Diary and what it means to think independently. A stimulating evening with a brilliant independent thinker and investigator, even if we don’t agree with everything he says. Approximately two hours on two DVDs..$22.95

Tour of Auschwitz: Ditlieb Felderer’s Auschwitz Slide Show. A DVD of pioneering revisionist Felderer’s 1985 slide show of the Auschwitz-Birkenau forced labor camp, given before a small audience of both revisionists and true believers in the Six Million narrative. Felderer knows Auschwitz like no one else. His collection of 30,000 Auschwitz photo-slides, was destroyed in the arson of Ernst Zundel’s home in 1995. To the best of our knowledge, this is the last record (a sampling) of those world-historic slides. Two hours on two DVDs. $29.95 

Talmudic Persecution of Christians by the followers of Orthodox Judaism. Brief DVD shows Orthodox Judaics harassing Christians and blaspheming the name of Jesus; as well as arson against a Christian mission. Scenes of bigotry and hatred for Christ and Christians, with the most virulent hostility reserved for those who convert from Judaism to Christianity. 24 minutes. $14.95

Hoffman Interviewed by Ernst Zundel. Mr. Zündel engages Michael in two lively discussions of his books: They Were White and They Were Slaves, and The Great Holocaust Trial. 1 hour. $15.95

World War Two Revisionists: Hans Von Der Heide who served with the Wehrmacht on the eastern front and the Waffen SS on the western front. Here is his unvarnished account of his service. Von der Heide in his speech, deportment and views is a complete contradiction of the propaganda image of an SS soldier. Historic eyewitness testimony.  65 minutes.$16.95 

The Occult Philosophy. M. Hoffman’s 1987 speech in Anaheim, California is one of his earliest anti-occult statements, a survey of the Conspiracy, unraveling “the occult counter-church whose rules are more rigid than the ‘uptight’ Church it claims to oppose.” 1 hr. $16.95    

The Judaic Role in the Black Slave Trade DVD. Black History Prof. Tony Martin’s brilliant speech nails the hidden Judaic role in the trans-Atlantic trade in African slaves which the mainstream media will not publicize.. Very persuasive and revealing. Introduction by M. Hoffman. 60 minutes. DVD.$16.95  

A Critical Study of Judaism - Live From San Jose - Slideshow on DVD. Hoffman’s intensive scholarly course on the religion of Judaism, illustrated with a power-point presentation featuring enlarged photos of relevant proof-texts from the Babylonian Talmud and rabbinic halacha; filmed before an audience in San Jose, Calif. More than 100 minutes of inside information. Two DVDs. $29.95 
 
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Looking for accurate knowledge of the true, revisionist history of Antonin Scalia, Dante, King Richard III, Thomas More, Edmund Campion or Ezra Pound? Did God speak Greek? What is the “terror alchemy” behind 9/11? Is there a rabbinic curse on Christians that can be proved with irrefutable documentation? Was England’s Navy staffed by white slaves?  Discover Martin Luther’s authentic stand on the Money Power, and Abraham Lincoln’s death camp. Find out why much of what the Establishment tells us about the past, from the Salem Witch Craze to the history of Prussia, and dozens of other familiar history tales, are dead wrong. What are the Russian roots of Nazism? Was Roger Taney the most eminent Supreme Court Justice of all time, and if so, why? Is there a Christian theological mandate for doubting the homicidal gas chambers of Auschwitz? 
  
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Books

Judaism Discovered. 1100 pages $49.95 

Judaism’s Strange Gods. 381 pages $17.95 

Great Holocaust Trial. 182 pages $18.95 

They Were White and They Were Slaves 137 pages. $17.95 
 
Secret Societies & Psychological Warfare 215 pages. $19.95 

Usury in Christendom 416 pages. $17.95 

The Talmud Tested. 715 pages. $27.95 


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