Revenge – the news network

15 Christian Women Raped By Muslim Mob In ‘Revenge Attack’ For Pastor Overseeing Conversions
James Macintyre 01 February 2017
Fifteen women were raped in a church by a mob of Muslims in eastern Uganda as a punishment against a pastor who was allegedly converting Muslims to Christianity.
The pastor is still missing along with eight other Christians two weeks after the attack in which the congregation were locked inside the church and several Christians were beaten, sources told Morning Star News.
Around 90 Muslims broke into the evening prayer meeting where some 80 Christians had gathered at the Katira Church of Uganda, in the Katira village, Budaka District at about 8:30pm on January 15 and beat the Christians with clubs and sticks, the report said.
A member of the congregation who escaped before the doors were locked heard one of the attackers shout, “Away with the pastor who is converting our Muslims to Christianity.”
The pastor, Moses Mutasa had been outside talking to some visitors to the church when several others arrived shouting, “Away with the pastor,” and he fled, according to Rev Musa Mukenye, who oversees several churches in the district’s Iki-iki County.

Pastor, Eight Others Missing in Uganda after Muslims Beat, Rape Congregation
Throng of about 90 attacks prayer meeting of 80.
January 29, 2017 By Our East Africa Correspondent
NAIROBI, Kenya (Morning Star News) – A pastor in eastern Uganda and eight other Christians are missing two weeks after a Muslim mob attacked a church prayer meeting, locked the congregation in, beat several members and raped 15 women, sources said.
The approximately 90 Muslims broke into the evening prayer meeting of Katira Church of Uganda, in Katira village, Budaka District at about 8:30 p.m. on Jan. 15 and beat them with clubs and sticks, area sources said. Previously Muslims had only thrown stones at the roof of the church building to disrupt church services of the 500-member congregation, villagers said.
At the evening service, about 80 members were present, and among those who escaped before the doors were locked was a Christian who heard one of the assailants shout, “Away with the pastor who is converting our Muslims to Christianity,” a church leader said.
Pastor Moses Mutasa had been outside questioning some visitors unknown to the church when several others arrived shouting, “Away with the pastor,” and he fled, said the Rev. Musa Mukenye, who oversees several churches in the district’s Iki-iki County.
“We do not know what has happened to our pastor, Moses Mutasa,” Pastor Mukenye told a meeting of local officials, police and other security officers. “He might have been killed or has been kept hostage.”
The assailants locked about half of those in attendance inside the building, beat the men and tied them up while they raped women, said a church elder stationed outside the building who escaped. About 50 men and 30 women had attended the prayer meeting, and most of those locked inside were women, sources said.
Muslim assailants positioned outside the church building also beat men and raped women as they tried to escape, a church elder said.
“Women’s clothing was found inside and outside the church building,” he said.
The abused women received treatment at a clinic in Katira.
Police arrived about two hours after the assault began, sources said. Several church members were also injured as they were trampled in the rush to get out of the building. Much church property was damaged, especially chairs.
The assailants were Muslims from the area, which is predominantly Muslim, sources said.
When police arrived, the attackers fled. Two days later, church members found leaflets accusing the pastor of converting Muslims and threatening more attacks, villagers said.
On the morning after the attack, some church members intent on retaliating gathered, and as tensions mounted police intervened, convening a meeting with Christian, Muslim and local political leaders on Jan. 22.
Christians were planning to destroy the village mosque in order to send a message that they were not cowards, but Pastor Mukenye pleaded for them to adopt an attitude of forgiveness, and they refrained, he said.
Pastor Mukenye told Morning Star News that Christians should leave justice to authorities.
“This act is evil, and police should not relent until the attackers are arrested and charged in a court of law,” he said.
The assault was the latest in a series of incidents of persecution against Christians in eastern Uganda. On Jan. 2 Islamic extremists ambushed a church leader in eastern Uganda after a sheikh they had sent to assassinate him at a Dec. 4 church service instead became a Christian, sources said.

Revenge of the Japanese Zombie Banks

Japanese banks, which should know a thing or two about banking crises, have once again clawed their way to the top of the heap of overseas lenders. And with their knack for impeccable timing, they’ve once again become the largest force in emerging market economies – just as financial turmoil there is coming to a boil.

The Bank of Japan, under the new religion of Abenomics, has embarked on a dizzying money-printing and bond buying program to devalue the yen (partially accomplished) and to get banks to sell their hoards of JGBs to the BOJ and then lend the proceeds to Japanese businesses so that they’d invest in productive assets so that the economy could start producing more and pick up momentum. However, with businesses in no mood to invest at home, there is little demand for loans in Japan.

There is demand overseas, however. Japanese banks are falling all over each other to lend to these businesses, including Japanese companies that are offshoring production. Focal point: emerging markets, where cross-border lending in the first quarter reached its highest level on record, according to the Bank for International Settlements’ Quarterly Review, released on Sunday. Largest recipient countries: China, Brazil, and Russia.

So Japanese banks had a 13% share of all cross-border loans in the first quarter, ahead of US banks with a 12% share, German banks (11%), British banks (10%), and French banks (10%).

Yen lending jumped 4.3%, or $55 billion, for the January-March quarter, the first Abenomics quarter. Nearly half of the $114 billion booked for the entire 12-month period! The pace of overseas lending has turned outright frenetic. It shows up in a myriad ways. For example, an August survey by the state-owned Development Bank of Japan showed that Japanese companies were planning to boost their investments overseas by 26% this fiscal year.

At the same time, overall cross-border lending by banks reporting to the BIS dropped during the first quarter. Dollar loans declined by $28 billion (-0.1%), euro loans by $145 billion (-1.4%), and sterling loans by $57 billion (-4.0%). In total, cross-border loans to advanced economies fell by $341 billion, or 1.5%.

But the first quarter belonged to the halcyon days in the emerging markets, before the current turmoil tore up much of the rosy scenery. And banks in general stepped up their activities there, and total cross-border loans to these countries soared by $267 billion, or 8.4%. A tsunami of money (which is now receding).

It’s not like Japanese banks haven’t been there before. During the bubble in the late 1980s, Japanese banks dethroned US banks as the number one overseas lender – including to the emerging markets. In 1989, their share of cross-border lending peaked at 39%. They had their reasons – including, as the BIS explains, a desire “to avoid regulatory restrictions at home.”

But then came the inevitable banking crisis that turned these unconquerable powerhouses, for which no loan was too large and no asset too overpriced, into the infamous “zombie banks” of the 1990s. With a mountain of loans decomposing in their basements, they focused on survival and dealing with the onset of deregulation. Waves of consolidations followed that turned 20 big “city banks” into three megabanks – Mitsubishi UFJ Financial Group, Mizuho Financial Group, and Sumitomo Mitsui Financial Group – that are now, thank God, too big to fail.

The BIS graph shows the implosion of their cross-border lending bubble by Japanese banks. It bottomed out in 2007, at the cusp of the financial crisis, at an 8% share. Then Japanese banks began once again to expand their overseas lending activities. Now they’re number one again, though at a much lower share.

There is a darker side

By the first quarter of 2013, cross-border loans by Japanese banks (by the three megabanks, that is) had increased to $4 trillion. But their cross-border funding amounted to only $2 trillion, mostly raised from non-banks, according to the BIS. The remaining $2 trillion were funded within Japan.

Thus, Japanese banks were deploying overseas their huge deposit base that had been painstakingly squirreled away by Japanese savers to live off during their long retirement years. Investing these $2 trillion overseas over the years to fund corporate expansion projects, acquisitions, and other operations, such as offshoring production to emerging market economies or even the US, was a boon for the economies of those countries. But it didn’t help the Japanese economy. Not one bit. Though $2 trillion would have been a lot of money in Japan’s $4.6 trillion economy.

Now, these Japanese megabanks have redoubled their efforts to lend overseas, funded by a new source, also at home. Upon urging from the Bank of Japan, as part of Abenomics, they are selling their vast holdings of JGBs to the Bank of Japan – $242 billion in the last quarter alone. And these funds too are largely flowing to destinations overseas.

But it has been good for these megabanks. They’re the prime beneficiaries of Abenomics. Lending rebounded. They wrote up stock holdings and extracted fees from frenzied trading. Profits surged. But smaller banks stuck in the real economy of Japan are not so lucky. Read… “We Don’t Feel Any Impact Of Abenomics Here”