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Tuesday, July 22, 2014

NY Fed Slams Deutsche Bank (And Its €55 Trillion In Derivatives): Accuses It Of "Significant Operational Risk"

First it was French BNP that was punished with a $9 billion legal fee after France refused to cancel the Mistral warship shipment to Russia (which promptly led to French National Bank head Christian Noyer to warn that the days of the USD as a reserve currency are numbered), and now moments ago, none other than the 150x-levered NY Fed tapped Angela Merkel on the shoulder with a polite reminder to vote"Yes" on the next, "Level-3" round of Russia sanctions when it revealed, via the WSJ, that "Deutsche Bank's giant U.S. operations suffer from a litany of serious problems, including shoddy financial reporting, inadequate auditing and oversight and weak technology systems."
What could possibly go wrong? Well... this. Recall that as we have shown for two years in a row, Deutsche has a total derivative exposure that amounts to €55 trillion or just about $75 trillion. That's a trillion with a T, and is about 100 times greater than the €522 billion in deposits the bank has. It is also 5x greater than the GDP of Europe and more or less the same as the GDP of... the world.

In a letter to Deutsche Bank executives last December, a senior official with the New York Fed wrote that financial reports produced by some of the bank's U.S. arms "are of low quality, inaccurate and unreliable. The size and breadth of errors strongly suggest that the firm's entire U.S. regulatory reporting structure requires wide-ranging remedial action."

The criticism from the New York Fed represents a sharp rebuke to one of the world's biggest banks, and it comes at a time when federal regulators say they are increasingly focused on the health of overseas lenders with substantial U.S. operations.

The Dec. 11 letter, excerpts of which were reviewed by the Journal, said Deutsche Bank had made "no progress" at fixing previously identified problems. It said examiners found "material errors and poor data integrity" in its U.S. entities' public filings, which are used by regulators, economists and investors to evaluate its operations.

The shortcomings amount to a "systemic breakdown" and "expose the firm to significant operational risk and misstated regulatory reports," said the letter from Daniel Muccia, a New York Fed senior vice president responsible for supervising Deutsche Bank.


Deutsche Bank's external auditor, KPMG LLP, also identified "deficiencies" in the way the bank's U.S. entities were reporting financial data in 2013, according to a Deutsche Bank email reviewed by the Journal.
Oh wait, so those €55 trillion in derivatives are actually completelyfabricated? Well if that doesn't send the S&P 500 limit up nothing will.
DB's response is the generic one already attempted by that other permacriminal bank, Barclays, which hired a few hundred compliance people after it was revealed that the British firm was manipulating and rigging pretty much every product and market it was involved in.
"We have been working diligently to further strengthen our systems and controls and are committed to being best in class," a Deutsche Bank spokesman said Tuesday. As part of this, he said, the bank is spending €1 billion globally and appointing 1,300 people, including about 500 compliance, risk and technology employees in the U.S. Mr. Muccia declined to comment.
Sadly for now what this latest Pandora's box means is that confidence in Europe's insolvent banks just crashed with a bang once again, not that it would be reflected in the stock's rigged price of course: rigged most likely by Deutsche Bank among other of course.
The New York Fed's concerns also pose a challenge for Deutsche Bank's longtime finance chief, Stefan Krause, who is ultimately responsible for the company's financial figures and has been spearheading efforts to improve the quality of the bank's reporting.

The concerns from regulators strike at the heart of an issue plaguing many of the world's big banks: Some investors lack confidence in the integrity of their numbers. Such fears have been especially prevalent in Europe.
Then again, none of DB's numbers actually matter: if the banks needs a bailout the Fed will promptly step in, and today's advisory has one simple end point, which happens to be the same as the recent BNP $9 billion fine - don't even dare to side with Putin over the US. Because you sure have big bank over there Germany... It would be a pity if the NY Fed i) revealed just how insolvent it truly was and ii) decided not to bail it out subsequently.
* * *
As for Deutsche Bank's response perhaps the simplest and most effective one would be for the Frankfurt megabank to tell the NY Fed that perhaps its own 150x leverage is just a little more worthy of attention.
Credit to Zero Hedge

Russia Adds 500,000 Ounces Of Gold Reserves In June 2014

Based on the latest update of the Russian central bank, it appears that Russia has added another 500,000 ounces of physical gold to their reserves.

Total Russian gold reserves now stand at 35,200,000 ounces, which equals 921,35 tonnes.

Russia is among the top 8 countries based on the officially reported gold reserves.

The following chart, courtesy Sharelynx, shows the increase of Russian gold reserves over the last 8 years.

The latter part of the chart shows the monthly change.

It is very interesting to note how over the last 8 years, only 4 months have been slightly negative against an overwhelming number of positive months (in terms of additions).

Credit to Etfdailynews.com

White Flags Mysteriously Replace American Flags Atop Brooklyn Bridge

White Flags on Brooklyn Bridge

MANHATTAN — American flags were removed from atop the Brooklyn Bridge's two towers Tuesday morning and replaced by white flags, sources said.

Police, including the NYPD's counter terrorism and intelligence divisions, were checking surveillance footage from the bridge after images of the white flags hit social media about 7 a.m., sources said.

"Why are there white flags on top of the Brooklyn Bridge?" City Council member Mark Weprin tweeted at 9:34 a.m.

It was not immediately clear how the white flags, which are usually a military symbol for surrender, got there.

Witnesses reported seeing NYPD counter terrorism officers heading up the stairs to the bridge about 9:30 a.m.

But people were still allowed to walk across the bridge even as the police presence increased.

The Department of Transportation, which oversees the bridge, referred press inquiries to the NYPD, which did not have additional information.

DNA Info New York

Obama’s Newest Executive Orders Bans Eight Russian Arms Manufacturers

RUSSIAN AKM Underfolder Rifle
RUSSIAN AKM Underfolder Rifle
Daniel Terry, Agenda 21 Radio, Shooters Paradise
Washington, DC –(Ammoland.com)- President Obama last week announced new, wide-reaching economic sanctions on Russia in reaction to the situation in Ukraine, including bans that effect direct importations of Russian made Rifles and Handguns.
The restrictions cover certain major financial institutions, energy companies, Russian government leaders and eight arms manufacturers, including the Kalashnikov Concern.
The Eight Companies include:
Almaz-Antey manufactures surface-to-air missile systems currently used by the Russian military.
Federal State Unitary Enterprise State Research and Production Enterprise Bazalt is involved in the design and construction of air launched ordnance, rocket propelled grenades, and armored fighting vehicle ammunition. Bazalt’s manufacturing interests include aerial bombs, mortar shells, grenades, anti-tank and anti-saboteur grenade launchers, and projectiles of all types and calibers.

JSC Concern Sozvezdie develops and produces high-tech control and communication systems, radio electronic warfare and special equipment for military forces. JSC Concern Sozvezdie focuses on three primary lines of production: military-oriented production, dual-purpose products, and dual-purpose products and professional communication and control systems. JSC Concern Sozvezdie’s main activities include producing and developing materiel including automated control systems and communication systems for the tactical sector, automated control systems and communication systems for anti-missile defense and air defense systems, and automated communication systems and electronic warfare tools. The company produces systems and devices related to electronic warfare, such as small manpack and portable jammers. The products are designed to disrupt enemy army operations, to reduce staff and equipment loss, and to improve the operation of armed forces by radio jamming of enemy weapon control systems based on radio frequencies.

JSC MIC NPO Mashinostroyenia is a leading Russian rocketry company responsible for defense programs involving cruise missile complexes capable of surface, underwater, and ground platform-based launches. JSC MIC NPO Mashinostroyenia’s involvement in Russia’s strategic nuclear forces includes the manufacture of intercontinental ballistic rockets and the development of space systems, spacecraft, and automatic and manned orbital stations in support of Russia’s Ministry of Defense.

Kalashnikov Concern produces a number of military weapons, including multiple grades and versions of assault rifles, grenade launchers, sniper rifles, military shotguns, and aircraft cannons. Kalashnikov Concern is the largest firearms producer in Russia and is a subsidiary of Russia’s State Corporation of Russian Technologies (Rostec).

KBP Instrument Design Bureau is a research and production center that creates precision-guided weapons. KBP Instrument Design Bureau develops antitank missile systems and assault armaments, weapon systems for main battle tanks and lightly armored vehicles, guided artillery projectiles and guided missile systems, short-range air defense systems, gun armament and associated ammunition, combat small arms, and hunting/sporting guns.

Radio-Electronic Technologies designs and produces electronic warfare equipment including weapons-control systems, friend-or-foe identification (IFF) systems, avionics, operational and tactical systems, electronic warfare and intelligence equipment, special measuring instrumentation, and plugs, electric connectors, and cable products.

Uralvagonzavod is a Russian government-owned company that builds a variety of military equipment, including tanks.
In a FAQ document, the Treasury Department offered guidance on AK-47s already in the U.S. that will not be affected by the new sanctions.

The U. S, Treqsury Department went on to add answers to these two questions, among others on its website:

374. If I own a Kalashnikov product, is that product blocked by sanctions? Am I able to resell a Kalashnikov product at a gun show or other secondary market?

If a U.S. person is in possession of a Kalashnikov Concern product that was bought and fully paid for prior to the date of designation (i.e., no payment remains due to Kalashnikov Concern), then that product is not blocked and OFAC sanctions would not prohibit the U.S. person from keeping or selling the product in the secondary market, so long as Kalashnikov Concern has no interest in the transaction. New transactions by U.S. persons with Kalashnikov Concern are prohibited, however, and any property in which Kalashnikov Concern has an interest is blocked pursuant to OFAC’s designation of Kalashnikov Concern on July 16, 2014. If a U.S. person has an inventory of Kalashnikov Concern products in which Kalashnikov Concern has an interest (for example, the products are not fully paid for or are being sold on consignment), we advise that U.S. person to contact OFAC for further guidance on handling of the inventory. [7-16-2014]

375. If I have Kalashnikov products in my inventory, can I sell them?
If a U.S. person has an inventory of Kalashnikov Concern products in which Kalashnikov Concern has an interest (for example, the products are not fully paid for or are being sold on consignment), we advise that U.S. person to contact OFAC for further guidance on handling of the inventory. [7-16-2014]

The National Shooting Sports Foundation is the trade association for the firearms industry. Its mission is to promote, protect and preserve hunting and the shooting sports. Formed in 1961, NSSF has a membership of more than 6,000 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers. For more information, log on to www.nssf.org.


Blasts After IDF Strike Prove Hamas Used Tunnel for Terror


ILLegal come in we are open
The United Nations High Commissioner for Refugees (UNHRC) has previously met with officials from the U.S., Mexico and various Central American countries on the pretense of labeling the thousands of illegal immigrants as refugees. Indeed, the United Nations is now categorizing the present wave of immigrants as refugees from political and domestic violence that are merely seeking asylum in the United States. By declaring this to be the case, the United Nations is “lawfully” exerting their international power to force the United States to openly take in any and all refugees with welcoming arms, at the expense of the American taxpayer.

A Chance Encounter

Nearly three weeks ago while traveling to San Diego on Interstate 8, I had a chance encounter with a Border Patrol Agent in a convenience store located in Yuma, AZ. I approached him and gave him my business card. I promised the agent complete anonymity with regard to any questions that he would answer. He reluctantly agreed to answer my questions. In response to my questions about the health risks posed by illegal immigrants, he stated that Border Patrol Agents have contracted drug resistant TB, scabies that can carry more serious illnesses and bacteriological pneumonia. As an aside, one of Arizona’s most prominent physicians, Dr. Jane Orient, has been told the same by Border Patrol Agents whistleblowers and she stated so on my show on July 13th.

Some Border Patrol Agents Are “FED” Up

Last night, this same Border Patrol Agent called me at the number on my business card. He stated that he had been reading my articles and that he felt that I was expressing a deep understating the problem. However, he unequivocally stated my knowledge of UN involvement on the border was significantly outdated and understated.  He stated “the UN is already here and he has seen clear evidence that they are calling the shots on the border”.
This agent claims that he has encountered UN personnel at the detention facilities that he and fellow agents take the illegal immigrants to after arresting them. I asked him how he knew there were UN representatives at the border, he said he saw the proof in the sign-in sheets at the detention centers. Also, he noted that members of the World Health Organization have been in attendance as well. So, Dr. Jane Orient’s fears of a pandemic invasion may indeed be well-founded.
Throughout the course of his duties, the agent has learned that UN personnel are making decisions on which immigrants to send to what location inside of the United States. He said he has seen the UN personnel and DHS agents gathering MS-13 gangsters, captured from different roundups, patch worked together as a group and then shipped together to various locations on the perimeter of the United States. He knows this because some of his colleagues are involved in the transport of these illegal aliens. The agent’s partner, also on the phone, stated that “I objected to admitting MS-13 gangsters into the United States and I was told that we have our orders to treat them like anyone else”.
I asked the agent how he knew these were MS-13 and he said you can tell “by the tattoos”. He recounted the fact that MS-13 operatives will have a tattoo with tears on their face which represents a person that they have murdered in the commission of their drug related duties. He said he processed an MS-13 member who had 9 tears on his face and he was told to process him as an “unaccompanied juvenile refugee”.
Both men stated that while on patrol they encountered a storage area where they found water barrels . Upon closer examination, they discovered discarded drug bags and a hidden cache of weapons (e.g. AK-47′s). They also took four nearby people into custody and called for backup. He said that clearly one of the four detainees was from MS-13.  Eventually, four Border Patrol SUV’s showed up at the scene and were making plans to seize the guns as contraband connected to drug trafficking. When their supervisor arrived on the scene, the seizures were stopped and the agents were ordered from the area. As the agents were departing, they witnessed a civilian open bed pickup truck carrying about a dozen people in civilian clothes being transported to the area. In hindsight, he presumes that these men to be members of the Sinaloa cartel being brought in to secure their arms and other supplies. The agent stated that the stopping of arms seizures and drug seizures is becoming commonplace at the border.
After the event, all of the agents who were present at the scene attended a mandatory briefing in which they were told that they had accidentally uncovered an intelligence operation being conducted by ICE in conjunction with DHS in which they were allowing members of a cartel to operate with impunity in exchange for intelligence information on larger drug shipments.

We’ve Heard This Story Before

Let’s consider the public drug trial of Jesus Vicente Zambada-Niebla and compare the facts of this case to the claims of the two Border Patrol Agents.
Jesus Vicente Zambada-Niebla, the Sinaloa cartel’s “logistics coordinator” and son of a principal Sinaloa leader, asserted in court documents that Guzman is a U.S. informant and Sinaloa was “given carte blanche to continue to smuggle tons of illicit drugs into Chicago.”

“Niebla also alleged that Operation Fast and Furious was part of an agreement to finance and arm the cartel in exchange for information used to take down its rivals”. The details of the unholy agreement between the DEA and the Sinaloa cartel was that the DEA would allow 80% of all drug shipments into the United States in exchange for intelligence information on the other drug cartels. Why would the DEA want intelligence on the other cartels, yet, they would allow the Sinaloa cartel to continue with their drug operations right under the noses of the DEA. “The agents stated that this arrangement had been approved by high-ranking officials and federal prosecutors,” the Zambada-Niebla lawyer wrote”.

After being extradited to Chicago in February 2010, Zambada-Niebla argued that he was also “immune from arrest or prosecution” because he actively provided information to U.S. federal agents.

Niebla also alleged that Operation Fast and Furious was part of an agreement to finance and arm the cartel in exchange for information used to take down its rivals. This resurfaces the issue that Attorney General Eric Holder knew about the gun-running arrangements in Fast and Furious as we all knew he did.
The preceding paragraphs and the revelations by the two Border Patrol Agents clearly indicate that criminal elements, which resemble the forming of an military unit, are being strategically placed inside of the country. When I asked what was their best guess as to why MS-13 members are being processed as unaccompanied minors, one of the agents responded  “to protect the drug shipments and provide enough muscle in doing so as to threaten local law enforcement  who might interfere with an interdiction operation. Both agents also said that some of the operations on the American side of the border are so massive, and supported by the Mexican military, that the Border Patrol routinely avoids confrontations because they are outgunned and they are often miles away from backup.
Both agents have now been reassigned away from patrol activities to administrative duties. Their daily tasks consists of processing paperwork for immigrants. They said that all of their unit has been reassigned to clerical duties as well. I asked him who took his place on their patrol activities. He said as far as he knew, nobody has taken their place, thus leaving the border even more wide open than it was before.

Blaine Cooper Taken Down By Facebook

Blaine Cooper and I spoke by phone late last night. He was with the Arizona militia on the Texas-Mexico border. Blaine has made several damning videos on his experiences at the border which clearly point to the fact that the border should be closed to all immigration.
Blaine has informed me that after posting damning videos on his Facebook site, which showed that the Border Patrol was standing down as the drug cartels were clearly bringing drugs into the country, his Facebook account was closed and all his published videos are gone as well. Facebook claims that Blaine is using an alias on his account. I know Blaine and Blaine Cooper is his name. Facebook is lying and they wanted an excuse to hide the truth as to what is really going on at the border.
Very tellingly, Blaine found the opposite of what I heard from the Border Patrol Agents in Arizona. The Arizona based Border Patrol Agents are angry about this Obama-planned invasion. The Texas agents are working in cahoots with the Juarez cartel in Hancock County, Texas.
Blaine’s information is not contradicting the Arizona Border Patrol Agents account, it is just a second side of the same coin which will be explained in the next part of this series. Also presented in the next part in this series will be the complicity of Senator Rand Paul in this UN invasion of this country. Further, Congressman Duncan Hunter is involved in Fast and Furious and his actions explain how the local police are being federalized and this fact relates right back to these reported events. And, again, Congressmen Gowdy and Issa are completely negligent, or complicit in this plot as well. It is safe to say that this information is coming faster than I can report it. The bottom line is that this comes down to the fact that our country is in the process of being carved up and turned into a state-sponsored narco-terrorist state just like Mexico.
 Crdet to The Common Sense

New World Disorder: Emerging Division Between East And West Threatens To Plunge The Globe Into Chaos

East And West - Public Domain
In general, over the last several decades the world has experienced an unprecedented era of peace and prosperity.  The opening up of relations with China and the "end of the Cold War" resulted in an extended period of cooperation between east and west that was truly unique in the annals of history.  But now things are shifting.  The civil war in Ukraine and the crash of MH17 have created an enormous amount of tension between the United States and Russia, and many analysts believe that relations between the two superpowers are now even worse than they were during the end of the Cold War era.  In addition, the indictment of five PLA officers for cyber espionage and sharp disagreements over China's territorial claims in the South China Sea (among other issues) have caused U.S. relations with China to dip to their lowest point since at least 1989.  So could the emerging division between the east and the west ultimately plunge us into a period of global chaos?  And what would that mean for the world economy?
For as long as most Americans can remember, the U.S. dollar and the U.S. financial system have been overwhelmingly dominant.  But now the powers of the east appear to be determined to break this monopoly.  Four of the BRICS nations (China, Russia, India and Brazil) are on the list of the top ten biggest economies on the planet, and they are starting to make moves to become much less dependent on the U.S.-centered financial system of the western world.  For example, just last week the BRICS nations established two new institutions which are intended to be alternatives to the World Bank and the IMF...
So in their summit, from July 14 to 16, the five BRICS announced two major initiatives aimed squarely at increasing their power in global finance. They announced the launch of the New Development Bank, headquartered in Shanghai, that will offer financing for development projects in the emerging world. The bank will act as an alternative to the Washington, D.C.—based World Bank. The BRICS also formed what they’re calling a Contingent Reserve Arrangement, a series of currency agreements which can be utilized to help them smooth over financial imbalances with the rest of the world. That’s something the IMF does now.
Clearly, the idea is to create institutions and processes to supplement — and perhaps eventually supplant — the functions of those managed by U.S. and Europe. And they would be resources that they could control on their own, without the annoying conditions that the World Bank and the IMF always slap on their loans and assistance.
This comes at a time when both China and Russia are seeking to emphasize their own currencies and move away from using the U.S. dollar so much.
Even in the western media, it is being admitted that China's yuan is "a growing force in global finance", and according to CNBC the use of Chinese currency in international trade is growing very rapidly...
Of the German companies profiled, 23 percent are using the renminbi to settle trades, up from 9 percent last year, while usage in Hong Kong rose to 58 percent from 50 percent and to 17 percent from 9 percent in the U.S.
Usage of the renminbi among French companies - a new addition to this year's list - was high at 26 percent.
And of course Russia has been actively pursuing a "de-dollarization strategy" for months now.  Each new round of economic sanctions pushes Russia even further in the direction of independence from the U.S. dollar, and Gazprom has been working hard to get large customers to switch from paying for natural gas in dollars to paying for natural gas in euros and other currencies.  For much more on this, please see my previous article entitled "Russia Is Doing It – Russia Is Actually Abandoning The Dollar".
At this point, it seems clear that Russia plans to permanently decouple from the U.S. economy and the U.S. financial system.  Just today we learned that Vladimir Putin plans to make Russia less dependent on U.S. companies such as IBM and Microsoft, and any future rounds of sanctions are likely to cause even more damage to U.S. firms that do business in Russia.
But potentially much more troubling for the U.S. economy is the startling deterioration in the relationship between the Obama administration and China.  Some analysts are even describing this as "a tipping point"...
One day, the United States indicts five PLA officers for cybercrimes; the next, the United States claims victory in WTO disputes over car tariffs and rare earth minerals. All this is happening while the United States promises enduring support for Asian allies, and it has moved openly to challenge the legitimacy of Chinese territorial claims in the South China Sea. Meanwhile,China is busy creating facts on the ground and water. Last month, a $1 billion Chinese oil rig set up operations in territorial waters claimed by Vietnam. In the East China Sea, Chinese SU-27 fighter jets have come within 100 feet of Japanese surveillance aircraft.
This was all capped at the recent Shangri-La Asian Security dialogue in Singapore (Asia’s annual defense-ministers meeting): Defense Secretary Chuck Hagel bluntly described China’s behavior as “destabilizing, unilateral actions.” The PLA deputy chief of staff, Lt. Gen. Wang Guanzhong, accused the United States of “hegemonism.”
The mood has soured, more than the usual ups and downs of big-power relationships. The question now is not whether a “new type of relationship” is in the offing, but rather, whether U.S.-Chinese relations have reached a tipping point.
Most Americans could not care less about what China is doing in the South China Sea, but to the Chinese this is a very, very big deal.  In fact, China just sent a surveillance vessel to Hawaii as a bit of payback for what they regard as U.S. "provocations" in the region.
In the old days, China would have probably never have done such a thing.  But China is gaining confidence as the gap between the U.S. military and the Chinese military rapidly closes...
Away from the Chinese military’s expanding capabilities in cyberspace and electronic warfare, Beijing is growing the size and reach of its naval fleet, advancing its air force and testing a host of new missiles, the Pentagon said Thursday.
An annual report to Congress on China’s evolving military capability concluded that the modernization was being driven in part by growing territorial disputes in the East and South China seas, as well as by Beijing’s desire to expand its presence and influence abroad.
In fact, the Chinese military has grown so powerful that we are now seeing headlines such as this one in The Week: "China thinks it can defeat America in battle".
And the Russian military has made tremendous strides as well. Putin has been working hard to modernize the Russian nuclear arsenal, the Russians now have a "fifth generation" fighter jet that is supposedly far superior to the F-22 Raptor, and they have nuclear submarines that are so incredibly quiet that the U.S. Navy refers to them as "black holes".
If Russia and China stay united, they are more than capable of providing a counterbalance to U.S. power around the globe.
But even if military conflict is not in our immediate future, the breakdown in relations between east and west could still have a dramatic impact on the global economy.
Over the years, the U.S. and China have developed a highly symbiotic relationship that fuels a tremendous amount of economic activity all over the planet.  Each year, we buy hundreds of billions of dollars of products from the Chinese.  Just imagine what our stores would look like if we took everything that was "made in China" out of them.  And after we send them giant piles of our money, we beg the Chinese to lend it back to us at ultra-low interest rates.  This arrangement has allowed China to become extremely wealthy and it has allowed Americans to enjoy a massively inflated standard of living fueled by ever increasing amounts of debt.
So what happens if this relationship starts breaking down?
Without a doubt, it could potentially lead to global chaos.
So keep a close eye on this emerging division between the east and the west.  It could end up being far more important than most Americans would ever dare to imagine.
Credit to Economic Collapse

UKRAINE Propaganda War

Terrorists Use Ambulance for Transportation in Gaza


ISIS issued ultimatum to Mosul’s Christians to either convert, pay a tax, leave or face imminent execution

U.N. Secretary-General Ban Ki-moon said Sunday that the persecution of Iraqi Christians who have been driven from their homes in Mosul by Islamic State of Iraq and Syria (ISIS) militants could constitute a crime against humanity, Agence France-Presse reported.

Hundreds of Christian families fled their homes in the northern city Saturday as an ultimatum threatening their community’s centuries-old presence there expired.

Ban “condemns in the strongest terms the systematic persecution of minority populations in Iraq by Islamic State [of Iraq and Syria] and associated armed groups,” a U.N. statement said.

The United Nations chief highlighted that “any systematic attack on the civilian population or segments of the civilian population, because of their ethnic background, religious beliefs or faith may constitute a crime against humanity.”

The militants, who have run the city for almost six weeks, issued an ultimatum to Mosul’s Christians to either convert, pay a tax, leave or face imminent execution.

The city’s new rulers said there would be “nothing for them but the sword” if Christians did not abide by those conditions by 0900 GMT Saturday.

While some families initially appeared prepared to pay the “jizya” Islamic tribute to stay in their homes, messages broadcast by mosques on Friday sparked an exodus.

Ban was “particularly disturbed by reports of threats against Christians in Mosul and other IS-controlled parts of Iraq,” the statement read.

It added that he was also concerned by “reports that Turkoman, Yazidis and Shabaks are facing abductions, killings or the destruction of their property, and that the homes of Christian, Shia and Shabak residents in Mosul have been marked.”

Before the 2003 U.S. invasion, more than a million Christians lived in Iraq, including more than 600,000 in Baghdad and 60,000 in Mosul, as well as a substantial number in Kirkuk and in Basra.

Until their forced exodus over the weekend, Christians had been continuously present in Mosul for about 16 centuries.

Credit to Infowars