mkfs.s3ql error: Invalid Credentials or skewed system clock

[Venduss]

I am attempting to create an S3 filesystem and I am receiving the following error:

"Invalid credentials or skewed system clock." 

Information about my setup:

>> mkfs.s3ql --version

>> S3QL 1.12

Not my real values but just to make sure I am not making a mistake with parameters.

Access Key ID: BA8AHD760HA1ZXDJUZPR

Secret Access Key: valDQ8yuckEKzKVgxeHZRewcWb8zHVrVlezLyzPH

Bucket Name: 4CB68BE999C642FB

>> mkfs.s3ql s3://4CB68BE999C642FB

>> Enter backend login: BA8AHD760HA1ZXDJUZPR

>> Enter backend password: valDQ8yuckEKzKVgxeHZRewcWb8zHVrVlezLyzPH

>> Invalid credentials or skewed system clock.

To rule out the skewed clock I ran:

>>ntpdate -q pool.ntp.org

server 216.129.110.30, stratum 2, offset -0.007092, delay 0.05629

server 72.8.140.222, stratum 2, offset -0.003913, delay 0.10594

server 165.123.132.61, stratum 2, offset -0.011243, delay 0.08008

server 173.248.148.27, stratum 2, offset -0.005386, delay 0.10223

18 Oct 23:14:08 ntpdate[16126]: adjust time server 216.129.110.30 offset -0.007092 sec

Anyone see any problems with what I am doing?