Saturday, June 27, 2009
CLIMATE HOGWASH BILL
http://rss.nfowars.net/20090626_Fri_Alex.mp3 (A-J JUNE 26,09)
OBAMA DEPOPULATION HEALTHCARE PLAN
ROTHCHILDS LINKS TO SLAVERY
JOHN LOEFFLER US EMBASSY HOLD CURRENCY FOR 12 MONTHS ONLY
ALLIANCE OF CIVILIZATIONS (UN OCCULT ONE WORLD CHURCH)
CONSTANCE CUMBEY ON NEW AGE OCCULTS
THE POPULATION REDUCTION AGENDA
House Passes Historic Bill to Curb Climate Change ,Republicans Argue That Legislation Is Too Costly and Will Damage Economy; Prospects in Senate Remain Murky By GREG HITT and STEPHEN POWER
WASHINGTON -- Landmark legislation to curb U.S. greenhouse-gas emissions was approved by the House of Representatives in a close vote late Friday, securing an initial victory for a cornerstone of President Barack Obama's agenda.After months of negotiations, the Democratic-controlled House has narrowly passed sweeping legislation calling for the nation's first-ever limits on pollution linked to global warming. Stephen Power explains the bill's implications.The 1,200 page bill -- formally known as the American Clean Energy and Security Act will reach into almost every corner of the U.S. economy. By putting a price on emissions of common gases, such as carbon dioxide, the bill would affect the way electricity is generated, how homes and offices are designed, how foreign trade is conducted and how much Americans pay to drive cars or to heat their homes.The House climate bill, approved by a 219-212 vote Friday evening, would mandate that 15% of the nation's electricity come from sources such as wind and solar power by 2020, potentially expanding the market and profit potential for companies in those sectors. Towards that goal, it seeks to boost nascent industries such as wind-generated electricity and solar power.The Avaaz Climate Action Factory, the Chesapeake Climate Action Network, and the Energy Action Coalition hold a rally to urge the House to pass the climate bill.But it isn't clear how much of the sprawling House bill will survive in the Senate, where moderate Democrats and Republicans could form a majority that backs less ambitious action. Among the potential problem areas: the House bill has a provision that would impose tariffs on goods imported from countries that don't match U.S. carbon dioxide restrictions a slap at China and India that some business interests fear could provoke a trade war.
Business groups split on the measure. The Edison Electric Institute, which represents investor-owned utilities that stand to benefit from the free-permit program, backs it. The U.S. Chamber of Commerce and the National Association of Manufacturers lobbied against passage. The National Petrochemical and Refiners Association, whose members in the oil-refining sector will receive 2% of the free permits, denounced the measure as an abject policy failure.Thoughts for Fuel: Carter's Energy Plan Will Put Priorities On Conservation, Environmental Issues (Dec. 28, 1976)Carter's Energy Budget Changes to Stress Conservation, Cut Back Nuclear Projects (Feb. 17, 1977)President Loses A Crucial Vote On Energy Policy (Sep. 23, 1977)Blitz to Aid Carter's Energy Plan Is Set; Staffers Call Six-Week Period Critical(Aug. 6, 1979)U.S. steel companies are also opposed. They fear the bill doesn't do enough to shield them from a competitive advantage that would accrue to firms in countries that don't operate under emissions caps.Mr. Obama and House leaders struggled to win over a large group of rank-and-file Democrats who expressed doubts about the climate bill. The president lobbied hard personally and through top aides to secure votes from wavering members over the past several days. But in the end, 44 Democrats defected, joining 168 Republicans in opposition. Eight Republicans crossed party lines to support the bill.
Mr. Obama and other Democratic leaders insisted the measure will spur job-creating investments in green technologies, while lessening U.S. reliance on foreign oil. They said the fear that higher energy costs will result is overblown, in part because savings from energy-efficiency investments could offset most or all of the costs to consumers.President Obama speaks in the Diplomatic Room of the White House.
The nonpartisan Congressional Budget Office has estimated the bill would have a modest impact on family budgets. The CBO projected an annual economy-wide cost in 2020of $22 billion, or about $175 per household. The CBO's study didn't consider the broader effect of the legislation on employment or gross domestic product.Republicans argued that the CBO's estimate lowballs the actual cost of the bill for families. They contended the measure amounted to a job-killing tax on consumers and businesses. The Waxman-Markey bill promises to destroy our standard of living,said Rep. Frank Lucas (R., Okla.).Democratic leaders stressed the measure will spur job-creating investments in green technologies, while lessening the nation's reliance on foreign oil. They say fear of higher energy costs is overblown, in part because savings from energy efficiency investments could offset most or all of the costs to consumers.
Speaker Nancy Pelosi (D., Calif.) followed Mr. Boehner to close debate, but spoke only briefly to urge passage. Just remember these four words: Jobs, jobs, jobs and jobs,she said, reinforcing her party's portrayal of the bill as good for the economy.
—Russell Gold contributed to this article.Write to Greg Hitt at email@example.com and Stephen Power at firstname.lastname@example.org
23 Thus he said, The fourth beast(THE EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADE BLOCKS)
24 And the ten horns out of this kingdom are ten kings that shall arise:(10 NATIONS) and another shall rise after them;(#11 SPAIN) and he shall be diverse from the first, and he shall subdue three kings.(BE HEAD OF 3 KINGS OR NATIONS).
NOW WE SEE WHY AMERICA IS PAYING TO BAILOUT ALL THE EU BANKS ALSO.NOT ONLY WILL THIS CLIMATE BILL LET THE EU CONTROL AMERICA BUT BUSH AT THE G-20 HANDED OVER AMERICAS ECONOMY TO THE EU AS THIS STORY TELLS US.SO THE EU IS IN CONTROL OF AMERICA ALREADY.
Dick Morris Political Insider RSS ARCHIVE Bush Hands Over Reins of U.S. Economy to EU Wednesday, November 19, 2008 2:28 PM By: Dick Morris & Eileen McGann
The results of the G-20 economic summit amount to nothing less than the seamless integration of the United States into the European economy.In one month of legislation and one diplomatic meeting, the United States has unilaterally abdicated all the gains for the concept of free markets won by the Reagan administration and surrendered, in total, to the Western European model of socialism, stagnation, and excessive government regulation. Sovereignty is out the window. Without a vote, we are suddenly members of the European Union. Given the dismal record of those nations at creating jobs and sustaining growth, merging with the Europeans is like a partnership with death. At the G-20 meeting, Bush agreed to subject the Securities and Exchange Commission (SEC) and our other regulatory agencies to the supervision of a global entity that would critique its regulatory standards and demand changes if it felt they were necessary. Bush agreed to create a College of Supervisors. According to The Washington Post, it would examine the books of major financial institutions that operate across national borders so regulators could begin to have a more complete picture of banks' operations.
Their scrutiny would extend to hedge funds and to various exotic financial instruments. The International Monetary Fund (IMF), a European-dominated operation, would conduct regular vigorous reviews of American financial institutions and practices.The European-dominated College of Supervisors would also weigh in on issues like executive compensation and investment practices.
There is nothing wrong with the substance of this regulation.
Experience is showing it is needed. But it is very wrong to delegate these powers to unelected, international institutions with no political accountability. We have a Securities and Exchange Commission appointed by the president and confirmed by the Senate, both of whom are elected by the American people. It is with the SEC, the Treasury, and the Federal Reserve that financial accountability must take place. The European Union achieved this massive subrogation of American sovereignty the way it usually does, by negotiation, gradual bureaucratic encroachment, and without asking the voters if they approve.What's more, Bush appears to have gone down without a fight, saving his debating time for arguing against the protectionism that France's Nicolas Sarkozy was pushing.By giving Bush a seeming victory on a moratorium against protectionism for one year, Sarkozy was able to slip over his massive scheme for taking over the supervision of the U.S. economy. All kinds of political agendas are advancing under the cover of responding to the global financial crisis. Where Franklin Roosevelt saved capitalism by regulating it, Bush, to say nothing of Obama, has given the government control over our major financial and insurance institutions. And it isn't even our government! The power has now been transferred to the international community, led by the socialists in the European Union.
Will Obama govern from the left? He doesn't have to.
George W. Bush has done all the heavy lifting for him. It was under Bush that the government basically took over as the chief stockholder of our financial institutions and under Bush that we ceded our financial controls to the European Union. In doing so, he has done nothing to preserve what differentiates the vibrant American economy from those dying economies in Europe. Why have 80 percent of the jobs that have been created since 1980 in the industrialized world been created in the United States? How has America managed to retain its leading 24 percent share of global manufacturing even in the face of the Chinese surge? How has the U.S. GDP risen so high that it essentially equals that of the European Union, whose population is 50 percent greater? It has done so by an absence of stifling regulation, a liberation of capital to flow to innovative businesses, low taxes, and by a low level of unionization that has given business the flexibility to grow and prosper. Europe, stagnated by taxation and regulation, has grown by a pittance while we have roared ahead. But now Bush — not Obama — Bush has given that all up and caved in to European socialists. The Bush legacy? European socialism. Who needs enemies with friends like Bush? 2008 Dick Morris & Eileen McGann.
Solana backs Felipe González for EU president job
Published: Tuesday 23 June 2009
EU foreign policy chief Javier Solana yesterday (22 June) endorsed former Spanish Prime Minister Felipe González as first permanent president of the European Council, should the Lisbon Treaty enter into force.
The Treaty of Lisbon, expected to enter into force in 2010, introduces two new European top jobs: a high-profile president who will chair EU summit meetings for a two-and-a-half year term and a revamped foreign policy chief (see EurActive LinksDossier on Choosing Mr. Europe).In a widely-noted interview with Spanish daily El País, Jean-Marie Colombani, former editor of Le Monde, maintains that Sarkozy is pushing for former Spanish Prime Minister Felipe González to become the first EU president once the Lisbon Treaty is ratified. According to Colombani, Sarkozy has dropped his support for former British Prime Minister Tony Blair, among other reasons for not having done anything in his current capacity as special representative of the Middle East Quartet. Colombani claimed that Sarkozy does not care that González is a socialist, as he sees him first as a man of ideas about Europe.
Speaking at a public event organised by the Belgian section of the Association of European Journalists in Brussels, Solana was positive about the possible nomination of González for the job.Answering a question, he said:[Felipe González] is a good friend, we have worked together for 15 years, and I know he has the energy and the capacity for the job.Should the Lisbon Treaty enter into force by the end of 2009, the EU’s first permanent president will be introduced under the Spanish EU Presidency in the first half of 2010.A relationship between two Spaniards - and I know them well - will be very positive, very constructive, and would bring added value,Solana said, referring to José Luis Rodríguez Zapatero, the Spanish prime minister, alongside González.Solana said the future EU president's chances of shaping the new institution depended on general political will on the one hand, and the personality and determination of the job holder on the other.The Lisbon Treaty says little about the division of responsibility between the country holding the rotating EU presidency and the permanent EU president, and many believe the first six months will set an important precedent for the future.Zapatero and González - like Solana - are from the Spanish Socialist Worker's Party (PSOE), a relationship which should enable good cooperation and ensure a smooth start for the new job.González is currently chairing the EU 'reflection group' put in place last year with the aim of anticipating long-term challenges facing the Union (EurActiv 14/10/09).
But while personalities such as González and Zapatero prove the high quality of Spanish statesmen, the audience pressed Solana to comment on the risk of an Iberian overload should a Spaniard take the job of EU Council president and José Manuel Barroso, a Portuguese, be re-confirmed as Commission head for the next five years. It's a question for others to respond to,said Solana, amid laughter from the audience.Solana was also positive about introducing the position of an energy tsar to co-ordinate Europe's dealings with Russia, although the job is not foreseen by the Lisbon Treaty. But he warned that EU countries had varying degrees of dependency on Russian gas, and coordination would not be a simple thing. Referring to the future EU external action service foreseen under the Lisbon Treaty, Solana said it would bring together diplomats who already work in the Commission and the Council, and those who come from member states. It is difficult to say what its exact size will be, and hard to predict the date by which it will be fully in place, Solana explained, adding that there would be no big bang as the service would be constituted gradually. Solana cited Addis Ababa as an example, saying the capital of Ethiopia and the African Union had a European ambassador who represents the Commission, the Council and EU member states at the same time. He suggested that this could be a model for building similar representations elsewhere in the world, like Afghanistan and the Middle East, for example. He also called for work on the EU's new external service to begin as soon as possible.Better tomorrow than never,he said.
CONSTANCE CUMBEY AUDIO
Friday, June 26, 2009 Once again: Javier Solana is designated spokesman for the world
Once again, Javier Solana, it appears from the following text, has been designated as the one voice the major powers of the world are speaking through.Obama said however that the talks compered by the international P5-plus-1 group over Iran's nuclear program would likely continue.He argued that despite speaking out with a unified voice on the violence in Tehran, the world needed to recognize that the prospect of Iran with nuclear weapons was a big problem.My expectation would be... that you're going to continue to see some multilateral discussions with Iran.European Union foreign policy chief Javier Solana has been authorized by UN Security Council permanent members Britain, China, France, Russia and the United States plus Germany to discuss the issue with Tehran.Stay tuned! Constance Cumbey.
Saturday, 27 June 2009 Open Europe's EU reform
Open Europe lobbies actively on European issues through critical comment, a daily press summary highlighting almost every derogatory news item available, media appearances, op-ed articles and participation in events.The torrent of negative comment raised my interest to find out what Open Europe is lobbying for, in other words what the reformed European Union would look like. I found a web document called Our vision. When I asked, Open Europe admitted that they do not have one document that sets out their reform agenda in one place. However, for specific reform proposals they recommended Chapter 5 of their publication Out of control? Measuring a decade of EU regulation and The European Parliament – What does it do and how does it affect your everyday life?
Every member state has signed up to the aim of an ever closer union among the peoples of Europe. This aim is the first one stated in the preamble of the Treaty establishing the European Community (since the Treaty of Rome, 1957, EEC Treaty). Article 1 of the Treaty on European Union sets out that the establishment of the EU marks a new step in the process of creating this closer union among the peoples of Europe.The process and the direction are clear, but the treaties do not spell out the speed or the ultimate goals (finalité) of European integration.Since I am primarily interested in the overall vision of Open Europe, Our vision remains the main source for assessing their alternative vision. For systematic reasons, I will choose the order of the issues and the comments.
By calling for a flexible European Union, based on voluntary cooperation, Open Europe rejects the basic aim of the treaties, at least for the United Kingdom. It looks hard to reconcile a repudiation of an organisation’s main aims with continued membership. The logical option would be for Britain to withdraw from the European Union.
Practical alternatives Withdrawal
Open Europe sees that the current process of integration leads to failure, deadlock and crisis. The UK (and other member states) could seek a looser relationship with the centre - for example replacing their current mode of membership by free trade and single market agreements with the other member states.
Logically, the looser relationship would mean secession.
This option would be clear-cut, with participation in the single market through international agreements with the European Union (member states). The models already exist.Iceland, Liechtenstein and Norway together with the 27 EU member states form the European Economic Area (EEA), which allows them access to the internal market as well as the option to participate in EU programmes of choice. (In addition, they are part of the Schengen area of free travel and common controls at the external borders.)Then there is the Swiss model, marginally more independent. Switzerland concludes bilateral agreements with the European Union (including Schengen).The drawback of both models is that the outsiders can mainly accept (or reject) what the European Union has cooked up. They can influence outcomes through consultation and lobbying, but they are not present when the EU institutions reach the internal outcomes. In my opinion, Open Europe needs to do much more to indicate the course of action to take and to assess the consequences if Britain withdraws from the European Union, which would be the logical option considering its rejection of the basic treaty aims.
Open Europe’s other option is that the EU as a whole could be restructured to accommodate different members’ conflicting interests.Apart from a minimum core of common rules, participation in EU policies should be voluntary. The less integrationist member states should not stop groups of other countries from pursuing deeper integration among themselves within the EU framework.Countries would be allowed to opt in or out of: the common foreign and security policy; border control; justice and home affairs legislation; the CAP and CFP; cross-Europe emissions trading; external aid and other EU spending policies (e.g. on research). It would also mean allowing member states to take back control of regional aid and to repeal some legislation which is currently tacked inappropriately onto the internal market (like the Working Time Directive).In my view, Open Europe’s view of the future European Union is incompatible with the aim to achieve ever closer union, under the existing treaties, as expressed by the timid reforms in the Treaty of Lisbon and especially with regard to the global challenges of the 21st century. Beyond the Lisbon Treaty, a unified foreign and security policy, including a future common defence, are prerequisites for Europe as an influential actor on the global stage. Effective powers require democratic government at EU level. Economic policy, resources (taxation) and some internal policies need to be strengthened. But Open Europe’s vision of the dismantled European Union à-la-carte has one redeeming feature, worth further study. Open Europe recognises that less integrationist countries should not stop (groups of) other countries from pursuing deeper integration within the EU framework. It does, however, raise a number of questions, which need to be addressed. The European Union is based on international treaties, concluded between the member states, subject to unanimous agreement and ratification by all member states. The powers (competences) of the EU are laid down in these treaties, in some detail.The enlarged European Union is almost impossible to reform, as shown by the painful road since the Nice summit in December 2000. The proposed reforms (Lisbon Treaty) are at the level of the least reform-minded countries. Open Europe’s principles of unhindered progress and voluntary participation require new ground rules. In the near future, as long as intergovernmental conferences (with or without conventions) agree on treaty reform, a qualified majority of member states should be allowed to progress, as long as the minority is allowed to opt out of the policy area and future implementation.
It is hard to believe that anti-integrationist countries would abide by a promise to let the majority progress, or that future treaties would be ratified by all member states. Therefore, the European Union would have to agree on coming treaties entering into force among the ratifying states.It is more natural that the minority opts out, than that the majority is forced to establish special procedures among itself, such as enhanced or permanent structured cooperation. The participating countries would constitute the Council with regard to each policy area. Governance would be messy, but somehow possible.The supranational institutions of the European Union would, however, give rise to more serious questions. Should the MEPs of the opting-out nations be allowed to legislate on all matters, if their states of origin are exempt from duties pertaining to important policy areas? Should the fringe nations be given the same weight in the Commission, the Court of Justice, the consultative bodies and agencies? On the other hand, after massive opt-outs some member states would be quick to demand lower contributions to the EU budget.Open Europe needs to look closer at the implications of a European Union à-la-carte, if it wants to present it as a credible alternative.Long term, the EU treaties need to be replaced by a basic law, which can be amended at EU level, by democratically legitimate institutions, by qualified majorities. How does Open Europe envision the situation of fringe countries in this context?
Open Europe has been consistently long on critique, but short on constructive proposals. It is high time to set out the alternatives for the United Kingdom (and perhaps some other member states) in much more detail, both secession and some sort of minimal membership, which would satisfy not only British preferences but the aspirations of the European mainstream.Ralf Grahn
Jun 24, 2009, 1:35 a.m. EST Latest Schultz Shock: a bank holiday Commentary: A leading newsletter paints a grim picture of the future By Peter Brimelow, MarketWatchEmbassy's being told to buy foreign currency???
NEW YORK (MarketWatch)The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style bank holiday.But it's surprisingly sanguine about stocks in the (very) short term. The Harry Schultz Letter (HSL) was my pick for Letter of the Year in 2008 because it really did predict what it rightly called a coming financial tsunami.But its performance in 2008 was still terrible, albeit arguably for technical reasons. ( See Dec. 28, 2008, column.)
Now HSL has bounced back big-time. ( See April 13 column.) Over the year to date through May, it's up a remarkable 81.7% by Hulbert Financial Digest count, compared to 4.1% for the dividend-reinvested Wilshire 5000 Total Stock Market Index. Of course, simple arithmetic dictates that doesn't make up for 2008 over the past 12 months, HSL is still down 48.19% versus negative 32.63% for the total return Wilshire 5000. In fact, the damage inflicted by 2008 was so great that HSL is also under water over the past three years, down an annualized 14.89% against a drop of 8.18% annualized for the total return Wilshire 5000. Still, over the past five years, the letter has achieved an annualized gain of 9.19%, compared to negative 1.26% annualized for the total return Wilshire 5000. This reflects its success in catching the post-millennium hard-asset bull market that caused me to name it Letter of the Year, for more conventional reasons, in 2005. ( See Dec. 29, 2005, column.) And over the past 10 years, the letter still shows an annualized gain of 3.65%, against negative 0.86% annualized for the total return Wilshire. In its current issue, HSL reports rumors that Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that something is about to happen ... within 180 days, but could be 120-150 days.Yes, yes, it's paranoid. But paranoids have enemies and the Crash of 2008 really did happen.
HSL's suspicion: Another FDR-style bank holiday of indefinite length, perhaps soon, to let the insiders sort out the bank mess, which (despite their rosy propaganda campaign) is getting more out of their control every day. Insiders want to impose new bank rules. Widespread nationalization could result, already underway. It could also lead to a formal U.S. dollar devaluation, as FDR did by revaluing gold (and then confiscating it).HSL is still sticking with its 20-year V formation forecast, but emphasizes that within the current 10-year downtrend phase there will be rallies that will last 1-2 years.It attributes its current success to successfully trading almost daily, especially in commodity stocks (coal/potash/energy/ fertilizer/gold). Take profits constantly and rebuy on mini pullbacks. Prefer non-U.S. dollar companies; many such companies are listed in U.S. & Canada or Australia.HSL says:The world is staggering today between stagflation and net deflation right now; it varies widely around globe. Net deflation is a maybe 35% risk, due to toxics and/or deepening depression. Bit more likely, we'll slowly creep up to a dangerous 4.5% inflation on average, medium-term. But the wild card is the currency risk, which has a 50% (?) chance of boiling over and causing literally overnight (i.e. 24 hours) mega inflation in the asset markets.Nevertheless, in the very short term, HSL's charting leads it to say: we MAY not get a new bear market decline that many bears are predicting. Likewise, DJIA & S&P500 may build a Head-and Shoulders right shoulder.
HSL's currently recommended allocation:
• 35%-45% Government notes, bills and bonds. (Not U.S.)
• 8%-10% Stocks (non-golds).
• 10%-30% Commodities, via futures, commodity stocks and/or physical assets.
• 35%-45% Gold stocks and bullion.
• 0-5% Bear stock protection via inverse ETFs like ProShares UltraShort QQQ /quotes/comstock/13!qid/quotes/nls/qid (QID 33.70, -0.89, -2.56%) ; ProShares UltraShort Dow30 /quotes/comstock/13!dxd/quotes/nls/dxd (DXD 50.29, +0.49, +0.98%) (Use to trade/hedge market downturns only.)It ain't over till it's over.Life is like a jar of jalepeno peppers.what you do today may burn your ass tomorrow.There is no doubt that we've been living beyond our means and we're going to have to make some
adjustments.Obama during the campaign.This year's budget deficit: $1.5 trillion.
What the Big Banks Have Won MIKE WHITNEY
Counterpunch Saturday, June 27, 2009
The trouble started 24 months ago, but the origins of the financial crisis are still disputed. The problems did not begin with subprime loans, lax lending standards or shoddy ratings agencies. The meltdown can be traced back to the activities of the big banks and their enablers at the Federal Reserve. The Fed’s artificially low interest rates provided a subsidy for risky speculation while deregulation allowed financial institutions to increase leverage to perilous levels, creating trillions of dollars of credit backed by insufficient capital reserves. When two Bear Stearns hedge funds defaulted in July 2007, the process of turbo-charging profits through massive credit expansion flipped into reverse sending the financial system into a downward spiral.
It is inaccurate to call the current slump a recession, which suggests a mismatch between supply and demand that is part of the normal business cycle. In truth, the economy has stumbled into a multi-trillion dollar capital hole that was created by the reckless actions of the nation’s largest financial institutions. The banks blew up the system and now the country has slipped into a depression.Currently, the banks are lobbying congress to preserve the financial innovations which are at the heart of the crisis. These so-called innovations are, in fact, the instruments (derivatives) and processes (securitization) which help the banks achieve their main goal of avoiding reserve requirements. Securitization and derivatives are devices for concealing the build-up of leverage which is essential for increasing profits with as little capital as possible. If Congress fails to see through this ruse and re-regulate the system, the banks will inflate another bubble and destroy what little is left of the economy.On June 22, 2009, Christopher Whalen, of Institutional Risk Analysis, appeared before the Senate Committee on Banking, Housing and Urban Affairs, and outlined the dangers of Over-The-Counter (OTC) derivatives. He pointed out that derivatives trading is hugely profitable and generates supra-normal returns for banking giants JP Morgan, Goldman Sachs and other large derivatives dealers. He also noted that,the deliberate inefficiency of the OTC derivatives market results in a dedicated tax or subsidy meant to benefit one class of financial institutions, namely the largest OTC dealer banks, at the expense of other market participants.As Whalen testified:Regulators who are supposed to protect the taxpayer from the costs of cleaning up these periodic loss events are so captured by the very industry they are charged by law to regulate as to be entirely ineffective….The views of the existing financial regulatory agencies and particularly the Federal Reserve Board and Treasury, should get no consideration from the Committee since the views of these agencies are largely duplicative of the views of JPM and the large OTC dealers.
Whalen’s complaint is heard frequently on the Internet where bloggers have blasted the cozy relationship between the Fed and the big banks. In fact, the Fed and Treasury are not only hostile towards regulation, they operate as the de facto policy arm of the banking establishment. This explains why Bernanke has underwritten the entire financial system with $12.8 trillion, while the broader economy languishes in economic quicksand. The Fed’s lavish gift amounts to a taxpayer-funded insurance policy for which no premium is paid. Whalen continues:In my view, CDS (credit default swaps) contracts and complex structured assets are deceptive by design and beg the question as to whether a certain level of complexity is so speculative and reckless as to violate US securities and anti-fraud laws. That is, if an OTC derivative contract lacks a clear cash basis and cannot be valued by both parties to the transaction with the same degree of facility and transparency as cash market instruments, then the OTC contact should be treated as fraudulent and banned as a matter of law and regulation. Most CDS contracts and complex structured financial instruments fall into this category of deliberately fraudulent instruments for which no cash basis exists.No one understands these instruments; they are deliberately opaque and impossible to price. they should be banned, but the Fed and Treasury continue to look the other way because they are in the thrall of the banks. This phenomenon is known as regulatory capture.Credit default swaps (CDS) are a particularly insidious invention. They were originally designed to protect against the possibility of bond going into default, but quickly morphed into a means for massive speculation which is virtually indistinguishable from casino-type gambling. CDS can be used to doll-up one’s credit rating, short the market or hedge against potential losses. CDS trading poses a clear danger to the financial system (The CDS market has mushroomed to $30 trillion industry) but the Fed and other regulators have largely ignored the activity because it is a cash cow for the banks.
Whalen again:It is important for the Committee to understand that the reform proposal from the Obama Administration regarding OTC derivatives is a canard; an attempt by the White House and the Treasury Department to leave in place the de facto monopoly over the OTC markets by the largest dealer banks led by JPM, GS and other institutions….The only beneficiaries of the current OTC market for derivatives are JPM, GS and the other large OTC dealers…. Without OTC derivatives, Bear Stearns, Lehman Brothers and AIG would never have failed, but without the excessive rents earned by JPM, GS and the remaining legacy OTC dealers, the largest banks cannot survive and must shrink dramatically.(Statement by Christopher Whalen to the Committee on Banking, Housing and Urban Affairs, Subcommittee on Securities, Insurance, and Investment, United States Senate, June 22, 2009)The Geithner-Summers reform proposals are a public relations scam designed to conceal the fact that the banks will continue to maintain their stranglehold on OTC derivatives trading while circumventing government oversight. Nothing will change. Bernanke and Geithner’s primary objective is to preserve the ability of the banks to use complex instruments to enhance leverage and maximize profits.The banks created the financial crisis, and now they are its biggest beneficiaries. They don’t need to worry about risk, because Bernanke has assured them that they will be bailed out regardless of the cost. Financial institutions that have explicit government guarantees are able to get cheaper funding because lending to the bank is the same as lending to the state.
U.S. Stocks Drop as Savings Rate Hits 15-Year High, Oil Falls
By Elizabeth Stanton
June 26 (Bloomberg) -- U.S. stocks fell, giving the Standard & Poor’s 500 Index the first two-week decline since March, after the highest American savings rate in 15 years spurred concern that consumer spending will slow and oil retreated. The dollar dropped after China’s central bank reiterated a call for a worldwide currency. Exxon Mobil Corp. and Tesoro Corp. dropped as crude oil futures lost 1.5 percent to $69.16 a barrel. The Russell 2000 Index of so-called small-cap companies added 0.8 percent as investors placed bets on the annual revision of stock weightings, to be completed after the close of trading today.The S&P 500 decreased 0.2 percent to 918.90 at 4 p.m. in New York. The Dow Jones Industrial Average fell 34.01 points, or 0.4 percent, to 8,438.39. The dollar slumped 0.7 percent against the currencies of six trading partners as China sought to replace it. The magnitude of that savings rate may have gotten some folks by surprise,said Philip Orlando, who helps manage $409 billion as chief equity market strategist at Federated Investors Inc. in New York. Economic and earnings growth is potentially not going to be as robust as some were thinking. That’s weighing on stocks.While the stock market has rebounded since March on optimism the deterioration in the global economy will slow, U.S. business activity is probably contracting for a fourth consecutive quarter, according to economists’ estimates. The S&P 500, which advanced 36 percent in 3 1/2 months through yesterday, has fallen 0.3 percent since June 19.
The Dollar Index fell 0.7 percent to 79.83. The restatement of Governor Zhou Xiaochuan’s proposal in March added to speculation that China will diversify its currency reserves, the world’s largest at more than $1.95 trillion. Chinese investors, the biggest foreign owners of U.S. Treasuries, reduced holdings by $4.4 billion in April to $763.5 billion after Premier Wen Jiabao expressed concern about the value of dollar assets. Long-term concern about the dollar is something globally we’re all worried about,said Eric Teal, who oversees $5 billion as chief investment officer at First Citizens Bank in Raleigh, North Carolina. Energy companies in the S&P 500 declined 1 percent as a group, the most among 10 industries. Exxon slumped 1.2percent to $69.05. Tesoro decreased 1.9 percent to $12.77. Crude oil dropped after the Commerce Department said the savings rate among Americans rose to a 15-year high of 6.9 percent.
The income and spending data reflects a deflationary bias in the economy,said Kevin Caron, a Florham Park, New Jersey- based money manager at Stifel Nicolaus & Co.Why pay 18 times earnings for an economy with a deflationary burden on its shoulders? The 40 percent rally in the S&P 500 from March 9 through June 12 pushed its valuation to almost 17 times its companies’ estimated operating earnings over the coming year, the highest since the index peaked in October 2007. The valuation fell to under 10 times estimated profit in November 2008. The benchmark index for U.S. stock options fell a fourth day to the lowest since Sept. 12, the last session before Lehman Brothers Holdings Inc. filed for the biggest bankruptcy in U.S. history. The VIX, as the Chicago Board Options Exchange Volatility Index is known, retreated 1.6 percent to 25.93. The index, which measures the cost of using options as insurance against declines in the S&P 500, is down from a record 80.86 in November yet above its 20.18 average over its 19-year history. Quarterly profits at the 495 companies in the S&P 500 that have reported results since April 7 dropped 32 percent on average, according to Bloomberg data. Analysts expect annual earnings in the measure to decline 15 percent before rebounding 22 percent in 2010, estimates compiled by Bloomberg show.
KB Home fell the most in the S&P 500, sliding 9.1 percent to $13.42. The Los Angeles-based homebuilder that targets first- time buyers reported a second-quarter net loss that was 53 percent bigger than the average analyst estimate, according to Bloomberg data.Micron Technology Inc. dropped 3.8 percent to $5.10. The biggest U.S. maker of computer-memory chips said its third- quarter net loss widened as slowing electronics demand and an industry glut kept prices below the cost of production. UBS AG fell 5.2 percent to $12.30. The European bank with the biggest losses from the credit crisis raised about 3.8 billion Swiss francs ($3.5 billion) by selling shares and said it expects a second-quarter loss.
Led by financial companies seeking to rebuild balance sheets eroded by rising delinquency rates on mortgage-backed and other forms of debt, U.S. companies are creating new equity at the fastest pace on record, causing future earnings to be divided among a larger number of shares. During the second quarter, 195 public companies have raised $91.9 billion by selling additional shares.The cost of borrowing dollars for three months in London, called the London interbank offered rate, or Libor, declined to 0.598 percent from 0.601 percent, extending its decline this year to 0.83 point. The rate, a benchmark for about $360 trillion of financial products around the world, peaked at 4.82 percent on Oct. 10 following the collapse of Lehman Brothers Holdings Inc. on Sept. 15.Palm Inc. surged 16 percent to $16.22. The maker of the new Pre phone reported a smaller fourth-quarter loss than analysts estimated after sales fell less than predicted.To contact the reporter on this story: Elizabeth Stanton in New York at email@example.com.
Scotland passes world's most ambitious climate bill,Scottish government sets target for 42 per cent cut in emissions by 2020 James Murray, BusinessGreen, 25 Jun 2009
Businesses in Scotland can expect to face significantly more demanding carbon emissions targets than their counterparts in the rest of the UK, after the Scottish Parliament passed a climate bill that is far more stringent than that adopted by Westminster.As with the UK bill, the Scottish legislation sets a target of cutting emissions 80 per cent by 2050, but that target includes emissions from international shipping and aviation, while the UK will not formally decide whether international emissions are included until 2012.Moreover, the Scottish bill sets significantly more demanding medium-term targets, requiring a 42 per cent cut in emissions by 2020. In contrast, the UK's recently released carbon budgets require emissions to be cut by 34 per cent below 1990 levels by the later date of 2022.Scotland's climate change minister Stewart Stevenson hailed the bill as the most ambitious and comprehensive piece of climate change legislation anywhere in the world, adding that while challenging the targets would help to create tens of thousands of new jobs.The bill was passed a week after the Scottish government released a wide-ranging new strategy designed to ensure the emission targets are met through a huge increase in renewable energy capacity, reductions in energy demand and the mass rollout of electric vehicles.The strategy sets a goal of ensuring all of Scotland's electricity comes from low carbon sources such as renewables or carbon capture and storage plants by 2030, and outlines plans for a raft of new initiatives, including proposals for tighter building regulations, expanded insulation programmes and new efforts to promote adoption of low carbon vehicles.
Stevenson said the bill would deliver clear economic benefits and help maintain a thriving economy.Harnessing the energy related opportunities presented by Scotland's natural capital can create tens of thousands of green jobs as we move to 2050, he added.These are jobs for the future: jobs in our rapidly expanding renewables industry; in developing and applying clean fossil fuel technology; in energy efficiency and microgeneration; and in the developing sustainable transport industry.
Scotland is fast emerging as one of the UK's clean tech hubs and the government has consistently talked up the country as an ideal location for both wind and marines renewables. It also recently announced ambitious plans to halve the amount of construction waste sent to landfill by 2012 and establish a zero-waste strategy.
Climate Change Bill passed Source: The Scottish Government
Published Friday, 26 June, 2009 - 10:22
The Scottish Government's world-leading legislation to tackle climate change has been passed by MSPs in the Parliament.The Bill sets a target of reducing emissions by 80 per cent by 2050, including emissions from international aviation and shipping. It also sets an interim target for a 42 per cent cut in emissions by 2020.
Climate Change Minister Stewart Stevenson said:
Scotland can be proud of this Bill, the most ambitious and comprehensive piece of climate change legislation anywhere in the world. As a country we are leading global action and expect others to follow our lead as we look to the international summit in Copenhagen this December.Setting targets is not an end in itself, it is delivery that matters. In our Delivery Plan published last week we set out a vision of how we will achieve our targets, demanding action now and in the future.While climate change is a threat, it should also be seen as a real opportunity. Harnessing the energy related opportunities presented by Scotland's natural capital can create tens of thousands of jobs and help us emerge from the current global economic downturn on the back of a strong green economic revival.Achieving these targets will be challenging. But I am confident that Government, business and the people of Scotland are ready to rise to the challenge.Governor of California Arnold Schwarzenegger also gave his backing to the Bill.
He said:Climate change is a global problem that requires a global solution. California has set aggressive greenhouse gas reduction targets, but we need the help of the world to tackle the most pressing environmental issue of our time.Scotland's ambitious and comprehensive targets encourage other nations to step up to the plate as we look toward an international agreement in Copenhagen, and it sends a message to the world that we must act now and we must act swiftly.More than 21,000 responses were received to the Scottish Government's consultation on a draft Climate Change Bill.
25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity;(MASS CONFUSION) the sea and the waves roaring;(FIERCE WINDS)
26 Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.
Caribbean tropical wave may grow into Gulf storm Fri Jun 26, 2:02 pm ET
NEW YORK (Reuters) – A tropical wave over the western Caribbean Sea between Honduras and Cuba has a moderate chance -- 30 to 50 percent -- of developing into a tropical cyclone over the next 48 hours, the U.S. National Hurricane Center forecast Friday.
The NHC does not expect significant development of the system before it reaches the Yucatan Peninsula in Mexico early Saturday, but conditions are forecast to become a little more favorable once it reaches the southern Gulf of Mexico late Saturday or Sunday.Most weather models project the system will move northwest across eastern Yucatan and reach the central Gulf of Mexico over the next five days or so.If the system develops into a tropical storm with winds of 39 to 73 miles per hour, it would be named Ana, the first named storm of the Atlantic hurricane season.The mere possibility of development has made some short traders nervous and helped prop up natural gas futures prices ahead of the weekend, energy traders said.The energy market watches for storms that could enter the Gulf of Mexico and threaten U.S. oil and natural gas platforms and refineries along the coast.The commodities market likewise watches for storms that could hit agriculture crops like citrus and cotton in Florida and other states along the coast to Texas.(Reporting by Scott DiSavino; Editing by John Picinich)
Strong thunderstorms batter southeast Michigan AccuWeather Thu Jun 25, 6:50 pm ET
HADLEY, Mich. – Severe thunderstorms have moved through southeast Michigan, leaving about 100,000 electrical customers without service.The National Weather Service issued severe thunderstorm warnings for a half-dozen counties in the region Thursday afternoon, but canceled them several hours later. Tornado warnings were briefly in effect for Lapeer and Monroe counties, although forecasters did not confirm any tornadoes had touched down.Flash flood warnings were issued for rivers and streams in much of Macomb and Oakland counties and southern Lapeer County.DTE Energy Co. spokeswoman Lorie Kessler says about 100,000 customers lost power because of the storms, including 66,000 in Macomb County and 20,000 in Wayne County. She says service likely will be fully restored sometime Friday.
Ten dead in Czech floods, central Europe on alert By Petr Josek – Thu Jun 25, 12:48 pm ET
NOVY JICIN, Czech Republic (Reuters) – At least 10 people died in flooding in the eastern Czech Republic, and rising river levels prompted flood warnings across central Europe following heavy rains this week.The 10 Czechs died near the country's border with Poland and Slovakia, with most of the damage near the town of Novy Jicin, 260 km (160 miles) east of Prague.Officials said at least six people were drowned late on Wednesday and four more died when medical teams were unable to reach them.
Rescuers evacuated hundreds of people from wrecked houses and buildings threatened by high water, and the government moved to deploy up to 1,000 soldiers to help.The situation is bad, although somewhat stabilized,said Tomas Vindis, a council member in Novy Jicin, a town of 27,000.The water is not a threat at the moment... but the forecast is not exactly favorable, so everybody is worried a bit that it could come back.The flooding is the central European country's worst natural disaster since heavy floods in 2002, when 17 people died and water ravaged the historic center of Prague, costing the state around $3 billion in repair costs.The governor of the hardest hit region, Jaroslav Palas, said the damages now would run into the tens of millions of dollars.In Austria, the river Danube has risen this week after some of the heaviest rainfalls in 50 years. The water level was expected to peak in Vienna Thursday as rainfalls ebbed.Vienna's Albertina Museum, home to landmark impressionist works by Monet and Renoir, started evacuating 950,000 artworks Thursday from its leaking underground depot.Around 13,000 police, firefighters and soldiers worked to stem the floods Wednesday. Some villages along rivers flowing toward the Danube were cut off and cellars and roads were underwater, mainly in the region west of the Austrian capital.Bratislava declared a second-degree alert in western Slovakia, where the Danube was expected to crest later in the day.Hungary put first or second degree alerts in place for the upper section of the Danube. Budapest has called the highest alert for the lower section of the northwestern Raba river.The Polish National Security Center said rivers topped warning levels in 43 places and alarm levels in another 20. Flood alarms were introduced in parts of southern Poland.Czech meteorologists forecast more rain into the weekend.(Additional reporting by Robert Mueller in Prague and Reuters bureaux in Vienna, Budapest, Warsaw and Bratislava, writing by Jason Hovet and Peter Laca; editing by Michael Roddy)
Eight dead as storm sweeps Philippines: govt Thu Jun 25, 12:45 am ET
MANILA (AFP) – At least eight people were killed while 12 others remained missing after tropical storm Nangka swept through the central and northern Philippines, officials said on Thursday.The dead and missing were mostly fishermen whose boats were damaged at sea or who were washed away by floods.The storm also forced more than 44,000 people to flee their homes due to rising waters, the civil defence office said, with at least five reported injured.Nangka brought heavy rains, strong winds, hailstorms and even a tornado to various parts of the country, causing floods, landslides, power outages and forcing the Coast Guard to suspend sea travel in the affected areas.This left almost 10,000 people and hundreds of vehicles stranded at ports when ferries were unable to sail, the civil defence office said.Seventy-seven people were also rescued from rough waters by the coast guard during the storm.
Schools remained shut in the capital and surrounding areas due to rain and damage caused by the storm.As of 5:00 am Thursday (2100 GMT Wednesday), Nangka had weakened and was charted 170 kilometres (106 miles) west of Metropolitan Manila, packing winds of 55 kilometres per hour as it moved northwest, the government weather station said.
However the government warned Nangka could still regain strength as it moves across the South China Sea towards Taiwan.
REBUILT 3RD TEMPLE (THE EU DICTATORS TEMPLE)
10 Which say to the seers, See not; and to the prophets, Prophesy not unto us right things, speak unto us smooth things, prophesy deceits:
11 Get you out of the way, turn aside out of the path, cause the Holy One of Israel to cease from before us.
12 Wherefore thus saith the Holy One of Israel, Because ye despise this word, and trust in oppression and perverseness, and stay thereon:
13 Therefore this iniquity shall be to you as a breach ready to fall, swelling out in a high wall, whose breaking cometh suddenly at an instant.
14 And he shall break it as the breaking of the potters’ vessel that is broken in pieces; he shall not spare: so that there shall not be found in the bursting of it a sherd to take fire from the hearth, or to take water withal out of the pit.
15 For thus saith the Lord GOD, the Holy One of Israel; In returning and rest shall ye be saved; in quietness and in confidence shall be your strength: and ye would not.
16 But ye said, No; for we will flee upon horses; therefore shall ye flee: and, We will ride upon the swift; therefore shall they that pursue you be swift.
1 And there was given me a reed like unto a rod: and the angel stood, saying, Rise, and measure the temple of God, and the altar, and them that worship therein.
2 But the court which is without the temple leave out, and measure it not; for it is given unto the Gentiles: and the holy city shall they tread under foot forty and two months.
27 And he( THE ROMAN,EU PRESIDENT) shall confirm the covenant with many for one week:(1X7=7 YEARS) and in the midst of the week he shall cause the sacrifice and the oblation to cease,(3 1/2 yrs in TEMPLE SACRIFICES STOPPED) and for the overspreading of abominations he shall make it desolate, even until the consummation, and that determined shall be poured upon the desolate.
REBUILT 4TH TEMPLE (THE TRUE MESSIAHS TEMPLE)
12 And speak unto him, saying, Thus speaketh the LORD of hosts, saying, Behold the man whose name is The BRANCH; and he shall grow up out of his place, and he shall build the temple of the LORD:
13 Even he shall build the temple of the LORD; and he shall bear the glory, and shall sit and rule upon his throne; and he shall be a priest upon his throne: and the counsel of peace shall be between them both.
9 Surely the isles shall wait for me, and the ships of Tarshish first, to bring thy sons from far, their silver and their gold with them, unto the name of the LORD thy God, and to the Holy One of Israel, because he hath glorified thee.
10 And the sons of strangers shall build up thy walls, and their kings shall minister unto thee: for in my wrath I smote thee, but in my favour have I had mercy on thee.
1 The word that Isaiah the son of Amoz saw concerning Judah and Jerusalem.
2 And it shall come to pass in the last days, that the mountain of the LORD's house shall be established in the top of the mountains, and shall be exalted above the hills; and all nations shall flow unto it.
3 And many people shall go and say, Come ye, and let us go up to the mountain of the LORD, to the house of the God of Jacob; and he will teach us of his ways, and we will walk in his paths: for out of Zion shall go forth the law, and the word of the LORD from Jerusalem.
4 And he shall judge among the nations, and shall rebuke many people: and they shall beat their swords into plowshares, and their spears into pruninghooks: nation shall not lift up sword against nation, neither shall they learn war any more.
5 O house of Jacob, come ye, and let us walk in the light of the LORD.
9 And they that went before, and they that followed, cried, saying, Hosanna; Blessed is he that cometh in the name of the Lord:
10 Blessed be the kingdom of our father David, that cometh in the name of the Lord: Hosanna in the highest.
15 And they come to Jerusalem: and Jesus went into the temple, and began to cast out them that sold and bought in the temple, and overthrew the tables of the moneychangers, and the seats of them that sold doves;
16 And would not suffer that any man should carry any vessel through the temple.
17 And he taught, saying unto them, Is it not written, My house shall be called of all nations the house of prayer? but ye have made it a den of thieves.
EZEKIEL 40 TO 48 IS THIS 4TH TEMPLE TO BIG FOR THE MOUNT I BELIEVE TO BE BUILT 25 MILES FROM JERUSALEM.
ETHIOPIA ARK OF COVENANT
MUCH ABOUT HISTORY Hark! Where's the Bible Ark? Ethiopia's Orthodox patriarch cops out on revealing plan for public viewing June 26, 2009 4:16 pm Eastern 2009 WorldNetDailyhttp://wnd.com/index.php?fa=PAGE.view&pageId=102274
Sketch of Ark of the Covenant based on a description by the late explorer Ron Wyatt (wyattmuseum.com)The leader of the Ethiopian Orthodox Church today backed off on a much-anticipated announcement about the Ark of the Covenant -- the ancient container holding the Ten Commandment -- which he claims to have seen. But no other evidence or, indeed, even any announcement, was made public today when word had been expected.
Ark hunters and Bible enthusiasts have been buzzing for two days on the report from the Italian news agency Adnkronos that Patriarch Abuna Pauolos, in Italy for a meeting with Pope Benedict XVI this week, said, Soon the world will be able to admire the Ark of the Covenant described in the Bible as the container of the tablets of the law that God delivered to Moses and the center of searches and studies for centuries.
He had suggested the possibility the artifact might be viewable in a planned museum. I repeat (the Ark of the Covenant) is in Ethiopia and nobody … knows for how much time. Only God knows,he said in the Adnkronos report available online. The report said Pauolos reported the artifact is described perfectly in the Bible and is in good condition. The state of conservation is good because it is not made from man's hand, but is something that God has made,Pauolos said, according to the report.Abuna Pauolos, patriarch of the Orthodox Church of Ethiopia.The agency had reported an announcement would be made at the Hotel Aldrovandi in Rome, and a hotel spokeswoman told WND Pauolos had been in residence there, but no news conference or event was scheduled.The Ark of the Covenant is in Ethiopia for many centuries,said Pauolos in the report.As a patriarch I have seen it with my own eyes and only few highly qualified persons could do the same, until now.
Bob Cornuke, biblical investigator, international explorer and best-selling author, has participated in more than 27 expeditions around the world searching for lost locations described in the Bible. A man some consider a real-life Indiana Jones, he has written a book titled Relic Quest about the Ark of the Covenant and participated in History Channel production called Digging for Truth.Next week, Cornuke will travel to Ethiopia for the 13th time since he began his search for the Ark. He told WND he believes it is possible Ethiopia could have the real artifact. They either have the Ark of the Covenant or they have a replica that they have believed to be the Ark of the Covenant for 2,000 years,he said.Cornuke said, if it is genuine, there's a plausible explanation of how the Ark may have come to the Church of Our Lady Mary of Zion in Ethiopia.The Ark could have been taken out of the temple during the time of the atrocities of Manasseh,he said.We have kind of a bread crumb trail that appears to go to Egypt, and it stayed on an island there for a couple hundred years called Elephantine Island. The Ark then was transferred over to Lake Tana in Ethiopia where it stayed on Tana Qirqos Island for 800 years. Then it was taken to Axum, where it is enshrined in a temple today where they don't let anybody see it.
Church of Our Lady Mary of Zion in Ethiopia
Cornuke said he traveled to Tana Qirqos Island and lived with monks who remain there even today.They unlocked this big, four-inch thick wood door,he said.It opened up to a treasure room, and they showed me meat forks and bowls and things that they say are from Solomon's temple. When the History Channel did this show, they said it was one of the largest viewed shows. People were fascinated.He said Ethiopians consider the Ark to be the ultimate holy object, and the church guards the suspected artifact from the eyes and pollution of man.In Ethiopia, their whole culture is centered around worshipping this object,Cornuke said.Could they have the actual Ark? I think I could make a case that they actually could.Want to know more about the ancient box holding the Ten Commandments? Get Exploring the Ark of the Covenant – a two-DVD set! But according to a statement delivered to WND by the webmaster for the Ethiopian Orthodox Church, there is no chance that the religious leaders and people in the nation will give up their custody of what they believe is the Ark.I think Abba Pauolos must be out of his mind. … An (artifact) should not be shown or touched other than the clergies but to put it on display is a reckless comment let alone doing it,the statement said.Not only the local clergies but the people of Ethiopia won't allow it and it is not going to happen.The webmaster noted there were artifacts moved from Ethiopia to Britain over the years, and even those are not allowed to be displayed.
Pauolos in the Adnkronos report said any display would need the approval of the supreme court of the Ethiopian Orthodox Church. A spokesman for a U.S. branch of the church, Mehereto Belete of Los Angeles, told WND he had been given no word of any major change in the status of the Ark.It is news for us just as it is for you,he said.Cornuke explained that a special guardian lives inside the church which reportedly holds the Ark and never leaves. Once a guardian is appointed, he stays until he dies and another man replaces him.We know for a fact that there have been 30 guardians in history who have never left that enclosure,Cornuke said.I know the guardian. When CNN and BBC went over there, he wouldn't see anybody but me. So I went and talked to him, and he's getting very aged. He told me they have the real Ark and he worships 13 hours a day in front of it. When he gets through, he is covered in sweat and he's exhausted.He said he met a 105-year-old man who claimed to have seen the Ark 50 years ago when he was training a replacement guardian. It frightened him to death when he got a glimpse of it.Cornuke said he also met with the president of Ethiopia nearly nine years ago and had a one-on-one conversation with him in his palace. He asked if Ethiopia had the Ark of the Covenant.According to Cornuke, the president responded:Yes, we do. I am the president, and I know. It's not a copy. It's the real thing.
Well-known author Grant Jeffrey
However, Grant Jeffrey, host of TBN's Bible Prophecy Revealed and well-known author of Armageddon: Appointment With Destiny, does not believe claims that the Ark is in Ethiopia. He told WND he spoke extensively with Robert Thompson, former adviser to former Ethiopian Emperor Haile Selassie. Jeffrey said Thompson told him the Ark of the Covenant had been taken to Ethiopia by Menelik, purported son of the Queen of Sheba and King Solomon. When Menelik became emperor, he claims royal priests entrusted him with the Ark of the Covenant because King Solomon was slipping into apostasy. A replica was then left behind in Israel.The Ethiopian royal chronicles suggest that for 3,000 years, they had been guarding the ark, knowing that it had to go back to Israel eventually,Jeffrey said.He claims that after the Ethiopian civil war, Israel sent in a group of commandos from the tribe of Levi and the carried the Ark onto a plane and back to Israel in 1991.It is being held there secretly, waiting in the eyes of the religious leaders of Israel, for a supernatural signal from God to rebuild the temple,he said.They are not going to do it before that. When that happens, they will bring the Ark into that temple.
But author and Bible teacher Chuck Missler, founder of Koinonia House, told WND the theory of Menelik obtaining the Ark is not biblical, though he believes there is a possibility that the Ethiopians may have the real deal. The fact that the Ethiopians may have been guarding the Ark of the Bible is very possible,he said.They cling to a belief that is clearly not biblical in terms of how the Ark got down there. But that doesn't mean they don't have it.Missler said there is no biblical basis for the Menelik account, and he believes there was a reason for that version of events. What everybody overlooks is that there's a reason that particular story was cooked up in early times,he said. It was to give their kings Solomonic descent. There's reason why they would try to sell that. But just because the official belief in how it got down there is not biblical, doesn't mean they don't have it.Tennessee historian and Time is the Ally of Deceit author Richard Rives, searched for the Ark and participated in excavations beneath Mount Moriah outside the walls of ancient Jerusalem. His group was trying to verify claims by relic hunter Ron Wyatt that he actually saw the Ark there several decades ago after tunneling through a small passageway.David and Richard Rives at man-made wall that could conceal passageway to Ark (wyattmuseum.com).While they found Roman ruins from the first century, Rives told WND they were unsuccessful in confirming Wyatt's account. Nonetheless, Rives does not believe the story of Menelik obtaining the artifact or that Ethiopia ever had the real Ark.God's presence was on the mercy seat. That was the throne of God,he said. If the account were accurate, Rives said God would have been dwelling on an Ark replica in Jerusalem.I just don't believe they could have persuaded him to sit on a fake Ark of the Covenant,he said.
Many theories exist about the ultimate fate of the Ark, including that it has been hidden in a still unknown location, it was destroyed by enemies of the Israelites, taken by Egyptian invaders to Egypt or removed by divine intervention. The quest for the artifact received additional publicity in 1981 when actor Harrison Ford searched for it in Steven Spielberg's Raiders of the Lost Ark.Cornuke said Ethiopians claim their purported Ark is kept in a large stone sarcophagus lined in ornately hammered silver. The Ark itself is made of acacia wood and laminated with a thin veneer of gold. The mercy seat sits atop the Ark and is made of pure, hammered gold and includes two cherubim facing one another.Whether the artifact is real or simply a copy, Cornuke said an unveiling might leave the world with more questions than answers.We have only typology to go on,he said.We could probably have some people analyze the wood samples and come up with some kind of dating protocol on it because it is acacia wood to see if that is it.Rives said a close inspection of the Ten Commandments would be necessary to ensure they are in accordance with true text and not later versions of the Ten Commandments. Cornuke said experts would also need to determine whether the artifact itself fits biblical description and trace its path to Ethiopia.We are peeking behind the veil of history,he said.We're taking a glimpse of an artifact that could be a very holy object.
Holy Ark Announcement Due on Friday
by Hillel Fendel JUNE 25,09
(IsraelNN.com) An Ethiopian church leader says Friday, June 26, marks the right time to unveil the Biblical Ark of the Covenant, which he says has been hidden in his church for centuries.Abuna Pauolos, Patriarch of the Ethiopian Orthodox Church, was in Rome this week to meet with Pope Benedict XVI. While there, he told reporters that the time had come to reveal before the world the Holy Ark. He said that the holy container has been in the custody of his church for hundreds of years.Paulous said he would make the full announcement this Friday, June 26, 2 PM local time (3 PM Israel time, 8 AM New York time) at a press conference in Rome.The claim that the Biblical Holy Ark has been kept at the Church, in the city of Axum, is an old one, but this is the first time that the Church plans to actually reveal the actual container, or news of it. It is not known whether the Church claims that the actual Tablets of the Law are inside it.
Copies of the alleged Ark are kept in many other churches in Ethiopia.
The news of the impending announcement was first reported by the Italian news agency Adnkronos. Pauolos told the news outlet, Soon the world will be able to admire the Ark of the Covenant described in the Bible as the container of the tablets of the law that G-d delivered to Moses, and the center of searches and studies for centuries.
Pauolos said The Ark of the Covenant has been in Ethiopia for many centuries. As Patriarch, I have seen it with my own eyes, and only a few, highly-qualified persons could do the same - until now.
Back to Earth
Stuart Munro-Hay, author of “Quest for the Ark of the Covenant: The True History of the Tablets of Moses,concluded that the object in question is definitely not the original Holy Ark. The building of the Ark of the Covenant – also known as the Ark of Testimony and the Ark of G-d’s Covenant – in accordance with Divine instructions is recounted in the Book of Exodus. The Ark held the Tablets of the Law, and traveled with the People of Israel, leading the way into the Promised Land. It was placed first in the Tabernacle in Shilo, and centuries later in the Holy Temple built by King Solomon. Since then, its whereabouts have been unknown, though one popular legend says it was brought to Ethiopia. Alternatively, it could be under the Temple Mount, in a cave at Mt. Nevo in Jordan, in the Vatican, a hideaway in Utah, or elsewhere.
Ben-Ari vs. Beinisch Over Religious Supreme Court Nominee
by Maayana Miskin JUNE 25,09
(IsraelNN.com) MK Michael Ben-Ari (Ichud Leumi – National Union) has begun a campaign to get Supreme Court President Dorit Beinisch removed from the Judges Selection Committee. Ben-Ari charges that Beinisch is biased against religious nominees.The freshman MK is calling on his colleagues to sign a petition asking Beinisch to step down.The initiative to remove Beinisch from the committee began, Ben-Ari explains, following an aggressive, unprecedented campaign that began in the [Supreme Court] President's office, against the candidacy of four religious judges to the Supreme Court.Beinisch's associates attacked certain candidates in particular, he said, chief among them judge Moshe Drori.Sources identified as being close to Beinisch said the justice had received dozens of angry letters complaining about Drori's candidacy. That's really amazing, Drori's candidacy was made public just a day ago, and president Beinisch has already received dozens of responses,Ben-Ari replied sarcastically.Moreover, did Beinisch receive complaints against Drori alone? Were there no complaints against other judges, those who Justice Beinisch hopes to see succeed? he asked.
Report Led to Complaints of Racism
According to the Hebrew-language daily Yediot Aharonot, many complaints were sent following a report in the paper accusing Drori of racism. The paper published selected quotes from a judgement in which Drori ruled in favor of a hareidi-religious man accused of attacking a female supermarket cashier of Ethiopian Jewish origin, and followed with statements from Ethiopian-Israeli activists accusing the judge of racism.Boaz Kenig, the attorney who represented the hareidi-religious man in the case that led to accusations of racism, accused Yediot Aharonot of taking quotes out of context.In order to understand the verdict you have to read the entire thing,he insisted.There isn't a trace of racism against the plaintiff – the opposite.Among those who criticized Drori following the publication of the Yediot Aharonot article was MK Shlomo Molla, who termed Drori racist and evil.Not all responses to the report were critical. Several figures in the legal world spoke out in defense of Drori, terming him brilliant,understanding and warm.
Media Leaks to Sway Committee?
Whatever the complaints against Drori or others, such information should not be leaked to the public, Ben-Ari said. Is this how the Judges Selection Committee is supposed to make its decisions? Is this how committee members are swayed to pick one judge over another? Ben-Ari ended his petition with harsh criticism of Beinisch and her colleagues: Justice Beinisch, like her fellow enlightened, liberal judges, wants the Supreme Court to have a single opinion. They do not want religious judges, judges who may have voted for a party slightly to the right of Meretz, they do not want independent judges, only those who will conform to the system.
AMERICA (POLITICAL BABYLON)
21 And I will set my glory among the heathen, and all the heathen shall see my judgment that I have executed, and my hand that I have laid upon them.
1 Woe to the land shadowing with wings, which is beyond the rivers of Ethiopia:
2 That sendeth ambassadors by the sea, even in vessels of bulrushes upon the waters, saying, Go, ye swift messengers, to a nation scattered and peeled, to a people terrible from their beginning hitherto; a nation meted out and trodden down, whose land the rivers have spoiled!
11 Because ye were glad, because ye rejoiced, O ye destroyers of mine heritage, because ye are grown fat as the heifer at grass, and bellow as bulls;(BACKSLIDERS)
37 A sword is upon their horses, and upon their chariots, and upon all the mingled people that are in the midst of her; and they shall become as women: a sword is upon her treasures; and they shall be robbed.(A NATION OF MINGLED PEOPLE)
12 Your mother shall be sore confounded; she that bare you shall be ashamed:(MOTHER ENGLAND) behold, the hindermost of the nations shall be a wilderness, a dry land, and a desert.
13 O thou that dwellest upon many waters, abundant in treasures, thine end is come, and the measure of thy covetousness.
7 Babylon hath been a golden cup in the LORD's hand, that made all the earth drunken: the nations have drunken of her wine; therefore the nations are mad.
53 Though Babylon should mount up to heaven, and though she should fortify the height of her strength, yet from me shall spoilers come unto her, saith the LORD.
3 For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies.
5 For her sins have reached unto heaven, and God hath remembered her iniquities.
7 How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow.
3 For out of the north there cometh up a nation against her, which shall make her land desolate, and none shall dwell therein: they shall remove, they shall depart, both man and beast.
24 I have laid a snare for thee, and thou art also taken, O Babylon, and thou wast not aware: thou art found, and also caught, because thou hast striven against the LORD. (RUSSIA A SNEAK ATTACK ON AMERICA)
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
I PREDICT RUSSIA WILL EMP EITHER NEW YORK OR WASHINGTON OR PROBABLY BOTH IN THE FUTURE LIKE THE BIBLE SAYS TO SNEAK NUKE AMERICA.
FROM JOSEPH FARAH'S G2 BULLETIN Plan to protect D.C. from nuke EMP attack,Defense initiative focuses on saving government June 25, 2009 12:00 am Eastern 2009 WorldNetDaily
Editor's Note: The following report is excerpted from Joseph Farah's G2 Bulletin, the premium online newsletter published by the founder of WND. Subscriptions are $99 a year or, for monthly trials, just $9.95 per month for credit card users, and provide instant access for the complete reports.
Air Force One
WASHINGTON – As North Korea threatens a missile launch on Hawaii and Iran continues to develop its own nuclear war capabilities, President Obama has greenlighted a plan to save the federal government from the devastating capabilities of a nuclear electro-magnetic pulse attack on the U.S, according to a report in Joseph Farah's G2 Bulletin. As WND has reported, a high-altitude nuclear EMP attack potentially could disrupt or damage electronic systems over much of the U.S., William Graham, chairman of the Commission to Assess the Threat to the United States From Electromagnetic Pulse Attack, told a hearing of the House Armed Services Committee in July 2008. The commission concluded Iran is not only covertly developing nuclear weapons. Since 2005 Tehran has been testing ballistic missiles designed to destroy America's technical infrastructure, effectively neutralizing the world's lone superpower. Detonated at a height of 60 to 500 kilometers above the continental U.S., one nuclear warhead could cripple the country – knocking out electrical power and circuit boards and rendering the U.S. domestic communications impotent.Keep in touch with the most important breaking news stories about critical developments around the globe with Joseph Farah's G2 Bulletin, the premium, online intelligence news source edited and published by the founder of WND.In 2005, the Senate Judiciary Subcommittee on Terrorism, Technology and Homeland Security chaired by Sen. John Kyl, R-Ariz., held a hearing on the EMP threat.
An electromagnetic pulse (EMP) attack on the American homeland, said one of the distinguished scientists who testified at the hearing, is one of only a few ways that the United States could be defeated by its enemies – terrorist or otherwise,wrote Kyl.And it is probably the easiest. A single Scud missile, carrying a single nuclear weapon, detonated at the appropriate altitude, would interact with the Earth's atmosphere, producing an electromagnetic pulse radiating down to the surface at the speed of light. Depending on the location and size of the blast, the effect would be to knock out already stressed power grids and other electrical systems across much or even all of the continental United States, for months if not years.While few preparations have been made since 2005 to protect the American heartland, the Defense Information Systems Agency plans to install a presidential network in the Washington area this year that will be able to survive an attack by a nuclear weapon that generates a high-altitude electromagnetic pulse.The agency started work on the network last year to install communications equipment resistant to damage by an EMP attack. The network was developed at the direction of the National Security Presidential Directive on Survivable Senior Leadership Communications in a HEMP Environment.It features Promina network switches from Network Equipment Technologies Inc. and manage communications over a specially designed and deployed Voice over Internet Protocol network.DISA developed the HEMP system, which includes upgrades to a UHF network serving senior leadership in the Washington area, as part of a National Emergency Action Decision Network to serve the president, secretary of defense and other senior leaders. John Garing, DISA chief information officer and director of strategic planning, said the network supports radio systems on helicopters and feeds into the HEMP network. Funding for all systems in the National Emergency Action Decision Network is pegged at less than $1 million. The systems will be installed in ground installations and executive aircraft, including Air Force One, four VIP Boeing 757s and two VIP Boeing 737 aircraft.DISA also asked for $49.5 million in its fiscal 2010 budget for the Crisis Management System, a high-performance, closed network that provides classified multimedia teleconferencing for the president, Cabinet secretaries, designated agency directors and their staffs,budget documents noted.
SENATORS OF CONGRESS
RON PAUL ON AUDIT THE FED
AUDIT THE FED HAS 244 SIGNED UP AS OF SATURDAY.
Ron Paul’s Bill To Audit The Federal Reserve Now Has 244 Co-Sponsors
By tmartin • June 14, 2009
Ron Paul’s bill to audit the Federal Reserve (HR 1207) now has 244 co-sponsors, and the numbers keep growing! This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With more than 50% of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.
Step 1: Your Representative
If your representative is not on the following list of HR 1207 co-sponsors, call their offices, write to them, email them, etc. Let them know they need to support HR 1207. If you live in their district, let them know. Go to their office.
Capitol Switchboard: (202) 224-3121
Step 2: Financial Services Committee
HR 1207 is now in the House Committee on Financial Services. This is THE MOST IMPORTANT STEP in this legislation! If it doesn’t get out of committee it will not come to a vote! There are 71 members on this committee and they are all listed below.
We need to let all members of the House Committee on Financial Services know that we want them to allow full House consideration of HR 1207 so it can move forward; we need them to support this. Now is the time.Call their offices, write to them, email them, etc. Let them know they need to support HR 1207. If you live in their district, let them know. Go to their office.
Help with this all important public outreach. NOW REALLY IS THE TIME!
Here’s a sample letter you can use:
Please co-sponsor and/or support H.R.1207, an effort to audit the Federal Reserve.
Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going.
Currently there are 244 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going.Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it.Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure.
Step 3: The People
Tell everyone you know about HR 1207 and ask them to support it and to contact their representative as well. Link to this page and to CampaignForLiberty.com.This initiative is crucial and we need to redouble our efforts to get HR 1207 passed.
1 And the word of the LORD came unto me, saying,
2 Son of man, set thy face against Gog,(RULER) the land of Magog,(RUSSIA) the chief prince of Meshech(MOSCOW)and Tubal,(TOBOLSK) and prophesy against him,
3 And say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech(MOSCOW) and Tubal:
4 And I will turn thee back, and put hooks into thy jaws,(GOD FORCES THE RUSSIA-MUSLIMS TO MARCH) and I will bring thee forth, and all thine army, horses and horsemen, all of them clothed with all sorts of armour, even a great company with bucklers and shields, all of them handling swords:
5 Persia,(IRAN,IRAQ) Ethiopia, and Libya with them; all of them with shield and helmet:
6 Gomer,(GERMANY) and all his bands; the house of Togarmah (TURKEY)of the north quarters, and all his bands:(SUDAN,AFRICA) and many people with thee.
7 Be thou prepared, and prepare for thyself, thou, and all thy company that are assembled unto thee, and be thou a guard unto them.
8 After many days thou shalt be visited: in the latter years thou shalt come into the land that is brought back from the sword, and is gathered out of many people, against the mountains of Israel, which have been always waste: but it is brought forth out of the nations, and they shall dwell safely all of them.
9 Thou shalt ascend and come like a storm, thou shalt be like a cloud to cover the land, thou, and all thy bands, and many people with thee.(RUSSIA-EGYPT AND MUSLIMS)
10 Thus saith the Lord GOD; It shall also come to pass, that at the same time shall things come into thy mind, and thou shalt think an evil thought:
11 And thou shalt say, I will go up to the land of unwalled villages; I will go to them that are at rest, that dwell safely, all of them dwelling without walls, and having neither bars nor gates,
12 To take a spoil, and to take a prey; to turn thine hand upon the desolate places that are now inhabited, and upon the people that are gathered out of the nations, which have gotten cattle and goods, that dwell in the midst of the land.
1 The burden of Damascus. Behold, Damascus is taken away from being a city, and it shall be a ruinous heap.
3 They (ARABS,MUSLIMS) have taken crafty counsel against thy people,(ISRAEL) and consulted against thy hidden ones.
4 They have said, Come, and let us cut them off from being a nation; that the name of Israel may be no more in remembrance.
5 For they (MUSLIMS) have consulted together with one consent: they are confederate against thee:(TREATIES)
6 The tabernacles of Edom,and the Ishmaelites;(ARABS) of Moab, and the Hagarenes;
7 Gebal, and Ammon,(JORDAN) and Amalek;(SYRIA) the Philistines (PALESTINIANS) with the inhabitants of Tyre;(LEBANON)
40 And at the time of the end shall the king of the south( EGYPT) push at him:(EU DICTATOR IN ISRAEL) and the king of the north (RUSSIA AND MUSLIM HORDES OF EZEK 38+39) shall come against him like a whirlwind, with chariots, and with horsemen, and with many ships; and he shall enter into the countries, and shall overflow and pass over.
41 He shall enter also into the glorious land, and many countries shall be overthrown: but these shall escape out of his hand, even Edom, and Moab, and the chief of the children of Ammon.(JORDAN)
42 He shall stretch forth his hand also upon the countries: and the land of Egypt shall not escape.
43 But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: and the Libyans and the Ethiopians shall be at his steps.
1 Therefore, thou son of man, prophesy against Gog,(LEADER OF RUSSIA) and say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech (MOSCOW) and Tubal: (TUBOLSK)
2 And I will turn thee back, and leave but the sixth part of thee, and will cause thee to come up from the north parts,(RUSSIA) and will bring thee upon the mountains of Israel:
3 And I will smite thy bow out of thy left hand, and will cause thine arrows to fall out of thy right hand.
4 Thou shalt fall upon the mountains of Israel, thou, and all thy bands,( ARABS) and the people that is with thee: I will give thee unto the ravenous birds of every sort, and to the beasts of the field to be devoured.
5 Thou shalt fall upon the open field: for I have spoken it, saith the Lord GOD.
6 And I will send a fire on Magog,(NUCLEAR BOMB) and among them that dwell carelessly in the isles: and they shall know that I am the LORD.
7 So will I make my holy name known in the midst of my people Israel; and I will not let them pollute my holy name any more: and the heathen shall know that I am the LORD, the Holy One in Israel.
8 Behold, it is come, and it is done, saith the Lord GOD; this is the day whereof I have spoken.
3 A fire(NUCLEAR BOMB) devoureth before them;(RUSSIA-ARABS) and behind them a flame burneth: the land is as the garden of Eden before them, and behind them a desolate wilderness; yea, and nothing shall escape them.
20 But I will remove far off from you the northern army,(RUSSIA,MUSLIMS) and will drive him into a land barren and desolate, with his face toward the east sea, and his hinder part toward the utmost sea, and his stink shall come up, and his ill savour shall come up, because he hath done great things.(SIBERIAN DESERT)
30 And I will shew wonders in the heavens and in the earth, blood, and fire, and pillars of smoke.(NUCLEAR BOMB)
31 The sun shall be turned into darkness, and the moon into blood, before the great and the terrible day of the LORD come.
Iranian cleric urges executing some protesters By WILLIAM J. KOLE, Associated Press Writer William JUNE 26,09
EDITOR'S NOTE: Iranian authorities have barred journalists for international news organizations from reporting on the streets and ordered them to stay in their offices. This report is based on the accounts of witnesses reached in Iran and official statements carried on Iranian media.A senior cleric on Friday urged Iran's protest leaders to be punished without mercy and said some should face execution — harsh calls that signal a nasty new turn in the regime's crackdown on demonstrators two weeks after its disputed election.Hard-liners have ordered long sentences and hangings before, and some fear those awaiting trial by a judiciary whose verdicts reflect the will of supreme leader Ayatollah Ali Khamenei could face the most severe punishments the Islamic system can dish out.Anyone who takes up arms to fight with the people, they are worthy of execution,Ayatollah Ahmed Khatami, a ranking cleric, said in a nationally broadcast sermon at Tehran University.Khatami said those who disturbed the peace and destroyed public property were at war with God and should be dealt with without mercy.His call for merciless retribution for those who stirred up Iran's largest wave of dissent since the 1979 Islamic Revolution came as Mir Hossein Mousavi, the nation's increasingly isolated opposition leader, has been under heavy pressure to give up his fight and slipped even further from view.Mousavi said he would seek official permission for any future rallies, effectively ending his role in street protests organized by supporters who insist he — not hard-line incumbent President Mahmoud Ahmadinejad — won the June 12 election. And an aide said Mousavi's Web site, his primary means of staying in touch with supporters, was taken down by unknown hackers.
Mousavi alleges he was robbed of victory through widespread and systematic fraud. The regime rejects the claim, refusing to consider new balloting, and on Friday, the Guardian Council — Iran's top electoral body — proclaimed the vote the healthiest held since the revolution.Since the election, opposition protesters repeatedly have clashed with security forces who arrested hundreds of people, including journalists, academics and university students. At least 17 people have been killed, in addition to eight members of the pro-government Basij militia, officials have said.President Barack Obama, joined at the White House by German Chancellor Angela Merkel, hailed the demonstrators in Iran and condemned the violence against them.Their bravery in the face of brutality is a testament to their enduring pursuit of justice,Obama said.The violence perpetrated against them is outrageous. In spite of the government's efforts to keep the world from bearing witness to that violence, we see it and we condemn it.Obama scoffed at accusations of U.S. meddling in Iran by Ahmadinejad, who on Thursday called for repentance from the U.S. leader. Obama added that Mousavi has captured the imagination or spirit of those in Iran who are interested in opening up.The demonstrations petered out this week under an ever-intensifying crackdown. Mousavi, meanwhile, has sent mixed signals to supporters, asking them not to break the law while pledging not to drop his challenge.Amnesty International called the prospect of quick trials and capital punishment for some detainees a very worrying development. It said Iran was the world's No. 2 executioner after China last year, with at least 346 known instances of people put to death. The group also called on the regime to release dozens of detained journalists it said faced possible torture.Khatami's call for harsh penalties and even death for those who are found to have defied the Islamic system is certainly an attempt to instill fear in people,said Ann Harrison, an Iran researcher at Amnesty.Whether the regime will actually follow through — or need to — was unclear. After Iran's 1999 student uprising, the regime sentenced scores to death, but many of those eventually were commuted to prison terms.
Either way, detainees face a fearsome, cleric-controlled judiciary. Courts often convene behind closed doors, rights groups complain that defendants sometimes have little access to lawyers, and the world learns of their fate only if a verdict happens to be announced on state TV.Any chances of a trial that meets standards of due process would be very slim,said Aaron Rhodes, spokesman for the New York-based International Campaign for Human Rights in Iran. What the regime is really saying is that any Iranian citizen who has dared express views which aren't consistent with the views of a small hard-line clique is at risk of the most severe punishment the system can deal out,he said.They are really at the mercy of the system at this point.In his sermon, Khatami asked the judiciary to confront the leaders of the protests, leaders of the violations, and those who are supported by the United States and Israel strongly, and without mercy to provide a lesson for all.He reminded worshippers that Khamenei, the supreme leader, rules by God's design and must not be defied. The cleric also lashed out at foreign journalists, accusing them of false reporting, and singled out Britain for new criticism. Earlier this week, Iran expelled two British diplomats, prompting the expulsion of two Iranian diplomats by Britain. In this unrest, Britons have behaved very mischievously and it is fair to add the slogan of down with England to the slogan of down with USA, he said.In Trieste, Italy, foreign ministers of the Group of Eight countries called for an end to the violence in Iran and urged the authorities to find a peaceful solution.Also Friday, more than 150 demonstrators attacked the Iranian Embassy outside the Swedish capital of Stockholm, throwing stones, breaking windows and injuring one worker, police said. Officers evicted the few demonstrators who climbed in through broken windows and arrested one person, said police spokesman Ulf Hoglund.Khatami alleged that the icon of the opposition, slain protester Neda Agha Soltan, was killed by demonstrators, not the Iranian security forces. Soltan, 27, was killed by a shot to the chest last week, on the sidelines of a protest.In London, an Iranian doctor who said he tried to save Soltan as the young woman bled to death, told the BBC she apparently was shot by a member of the Basij militia. Protesters spotted an armed member of the militia on a motorcycle, and stopped and disarmed him, said Dr. Arash Hejazi.In quelling protests, Basij militiamen have broken up even small groups of people walking together to prevent any possible gathering. Still, dozens of friends and relatives of Soltan managed to pay tribute Friday, arriving at Tehran's Behesht-e Zahra cemetery in groups of two and three, uttering brief prayers and placing flowers on her grave, witnesses said.Kole reported from Cairo; Associated Press writers Shaya Tayefe Mohajer in Cairo, Louise Nordstrom in Stockholm, and Ben Feller in Washington contributed to this report.
Regulators shut 4 banks; 44 failures this year By STEPHEN BERNARD and MARCY GORDON, AP Business Writers JUNE 26,09
NEW YORK – Regulators on Friday shut down four small banks, boosting to 44 the number of failures this year of federally insured banks.The Federal Deposit Insurance Corp. was appointed receiver of the failed banks: Community Bank of West Georgia, based in Villa Rica, Ga.; Neighborhood Community Bank, located in Newman, Ga.; Horizon Bank in Pine City, Minn.; and MetroPacific Bank in Irvine, Calif.Community Bank of West Georgia had $199.4 million in assets and $182.5 million in deposits as of May 15. Neighborhood Community Bank had $221.6 million in assets and $191.3 million in deposits as of March 31. Horizon Bank had $87.6 million in assets and $69.4 million in deposits as of March 31. MetroPacific Bank had $80 million in assets and deposits of $73 million as of June 8.The two closures in Georgia brought to 14 the number of banks in Georgia that have failed since the beginning of last year, more than in any other state. Most of the failures have involved banks in the Atlanta area, where the collapse of the real estate market brought economic dislocation.CharterBank, based in West Point, Ga., agreed to assume all of the deposits of Neighborhood Community Bank and to purchase about $209.6 million of the assets; the FDIC will retain the remaining assets for later disposition. Neighborhood Community's four offices will reopen as branches of CharterBank.The FDIC said it will mail checks to Community Bank of West Georgia depositors for the amounts of their insured funds. Direct deposits from the government, such as Social Security and veterans' benefits, will be transferred to United Community Bank in Blairsville, Ga.
All of the deposits at Horizon Bank will be assumed by St. Cloud, Minn.-based Stearns Bank NA. Stearns Bank also agreed to purchase $84.4 million of Horizon Bank's assets. The FDIC will retain the remaining assets for later disposition. Horizon Bank's two offices will reopen Saturday as branches of Stearns Bank, and customers accounts will automatically be transferred to Stearns Bank.Nearly all of MetroPacific Bank's deposits will be assumed by Tustin, Calif.-based Sunwest bank. Only about $6 million in brokered deposits will not be absorbed by Sunwest. The FDIC will pay brokers directly for the amount of those funds. Virtually all of MetroPacific Bank's assets are being purchased by Sunwest Bank. MetroPacific Bank's lone office will reopen Monday as a branch of Sunwest Bank. Deposits will be automatically transferred to Sunwest Bank.The 44 banks closed nationwide this year compare with 25 in all of 2008 and three in 2007.The FDIC estimates that the cost to the deposit insurance fund from the failure of Community Bank of West Georgia will be $85 million. CharterBank's failure will cost the fund $66.7 million. The failure of Horizon Bank is expected to cost the fund $33.5 million, while the closure of MetroPacific Bank will cost the fund about $29 million.As the economy has soured, with unemployment rising, home prices tumbling and loan defaults soaring, bank failures have cascaded and sapped billions out of the deposit insurance fund. It now stands at its lowest level since 1993, $13 billion as of the first quarter.While the pounding from losses on home mortgages may be nearing an end, delinquencies on commercial real estate loans remain a hot spot of potential trouble, FDIC officials say. If the recession deepens, defaults on the high-risk loans could spike. Many regional banks hold large numbers of them.The number of banks on the FDIC's list of problem institutions leaped to 305 in the first quarter — the highest number since 1994 during the savings and loan crisis — from 252 in the fourth quarter. The combined assets of those banks rose to $220 billion from $159 billion.The FDIC expects U.S. bank failures to cost the insurance fund around $70 billion through 2013. The agency recently adopted a new system of emergency fees paid by U.S. financial institutions that shifts more of the burden to bigger banks to help replenish the fund.Congress has more than tripled the amount the FDIC may borrow from the Treasury Department if needed to restore the insurance fund, to $100 billion from $30 billion.
Government stress tests of the 19 biggest U.S. banks last month showed that 10 of them had to raise a total of $75 billion in new capital to withstand possible future losses.A key government effort to ease the credit crisis reached a milestone on June 17 as 10 large banks said they had repaid a total of $68 billion in federal bailout funds.The Obama administration on Friday established its process for pricing billions of dollars worth of warrants that large banks must repurchase to exit the $700 billion bailout program.In addition to the $68 billion in bailout funds repaid by the 10 large institutions, another $2 billion has been repaid by smaller banks. The closing last month of struggling Florida thrift BankUnited FSB is expected to cost the insurance fund $4.9 billion, the second-largest hit since the financial crisis began. The costliest was the July 2008 seizure of big California lender IndyMac Bank, on which the insurance fund is estimated to have lost $10.7 billion.The largest U.S. bank failure ever also came last year: Seattle-based thrift Washington Mutual Inc. fell in September, with about $307 billion in assets. It was acquired by JPMorgan Chase & Co. for $1.9 billion in a deal brokered by the FDIC.Marcy Gordon reported from Washington.
Bernanke: Reliable stats help Fed, Americans By JEANNINE AVERSA, AP Economics Writer – Fri Jun 26, 2:06 pm ET
WASHINGTON – Reliable economic statistics produced by the U.S. government are important to Federal Reserve policymakers as well as millions of ordinary Americans wanting to keep tabs on jobs, wages and prices at stores, Fed chairman Ben Bernanke said Friday.Bernanke offered those observations in prepared remarks celebrating the 125th anniversary of the Labor Department's Bureau of Labor Statistics, the agency responsible for producing a raft of economic reports, including monthly employment figures, consumer prices, wholesale prices, employment costs and productivity.Clearly the timeliness and the reliability of your labor market and price reports are critical to us,Bernanke said. The agency's reports also help the public understand economic trends, he added.Fed policymakers weigh all kinds of economic data in deciding the direction of interest rates.The Fed on Wednesday decided to hold a key bank lending rate at a record low near zero to help brace the economy, which has been stuck in a recession since December 2007.In his remarks, Bernanke didn't talk about the current state of the economy or financial conditions.
AIG's Alico set for Europe restructuring: letter By Sudip Kar-Gupta – Fri Jun 26, 11:10 am ET
PARIS (Reuters) – AIG's (AIG.N) American Life Insurance Company (Alico) will restructure its western European businesses in order to generate cost savings, according to an internal document obtained by Reuters.The letter -- dated June 25 and signed by Alico Chairman and Chief Executive Rodney Martin -- says Alico will merge its continental and western European business with that of its UK and Irish business to form one new entity.The new division will report to Marc Sevestre, currently head of the continental and western European business of Alico.Over the next few weeks, a work group ... will develop a consolidation plan as well as a broader western European strategy and identify synergies between our western European operations, the letter said.The work group will include representatives from the CWE (continental and western Europe) and UKI (UK and Ireland) regions and from key home office functions.
Earlier this week, the U.S. government agreed to accept $25 billion of preferred stock in AIG's Alico and American International Assurance Co Ltd (AIA) businesses.The agreement will reduce AIG's debt of about $40 billion under a Federal Reserve Bank of New York credit facility, but it will still be a while before taxpayers get any cash back for their bailout of the insurer.Since its near-collapse last September, U.S. taxpayers have committed up to about $180 billion to AIG's rescue.AIG also said this week's agreement with the government positions AIA and Alico for initial public offerings, depending on market conditions.(Reporting by Sudip Kar-Gupta; editing by John Stonestreet)
Sri Lanka accuses IMF of playing politics by P. Parameswaran – Fri Jun 26, 3:34 pm ET
WASHINGTON (AFP) – Sri Lanka on Friday accused the International Monetary Fund of politicizing financial aid following the fund's delay in considering a 1.9 billion dollar bailout for the war-ravaged economy.Never ever has the IMF taken political factors into account. Now, it seems for the first time they are doing that -- indirectly,Sri Lanka?s trade minister G.L. Peiris told AFP in Washington ahead of talks with fund officials.Sri Lanka tapped the IMF for aid in March in a bid to stave off its first balance of payment deficit in four years after the island's foreign currency reserves fell to around six weeks' worth of imports.The loan has been put off due to political pressure from the United States, Britain and other Western nations over Colombo's handling of the final stages of the battle against Tamil separatists and charges that thousands of civilians were killed.
The Tamil Tigers were defeated last month.
Peiris said the IMF and Sri Lankan authorities had completed what he called tactical discussions over the 1.9 billion dollar standby facility as early as April but that the fund's board had still not met to consider the issue.So we think that it is wrong and apart from the fact that it is unfair because Sri Lanka has to be helped in this situation, not obstructed, it is a very unsound and dangerous precedent for the future,he warned.The IMF is now going to be embroiled in controversial political issues as part of the criteria governing their judgment in respect of particular transactions. That is very much our view,Peiris said.The United States, the main shareholder in the IMF and whose approval is key to the release of the money, has welcomed the end to the fighting in Sri Lanka but urged Colombo to meet the needs of the displaced masses and engage with all communities to protect their rights.
Washington has also supported calls for a probe into alleged war crimes committed by Sri Lankan government troops.The IMF said on May 15 that it was in advanced stage of discussions with the Sri Lankan authorities on the bailout prospects and that it looked forward to having a program brought to the board for approval in the coming weeks.Peiris remained confident however that the bailout funds will come through to Sri Lanka eventually.Human rights organizations have reported that thousands of Tamils had been taken from the state-run camps for those displaced by fighting.The United Nations also has often been at odds with the Sri Lankan government over Colombo's handling of the treatment of 300,000 people displaced by the fighting and detained in temporary shelters.Peiris responded to allegations by some human rights campaigners who compared the plight of the displaced Tamil civilians in government camps to that under Nazi Germany.This connotation of a Nazi concentration camp is a figment of their imagination. It is not true,he said.
G-8 to Israel: end settlements, open borders By NICOLE WINFIELD, Associated Press Writer – Fri Jun 26, 2:23 pm ET
TRIESTE, Italy – A broad international coalition urged Israel on Friday to freeze all settlement activity in the West Bank and lift its blockade of the Gaza Strip, backing U.S. President Barack Obama's Mideast policy.The Quartet of Mideast negotiators and foreign ministers of the Group of Eight industrialized nations took advantage of what the U.N. chief said was a historic opportunity with the new Obama administration in issuing nearly identical calls for the resumption of direct peace talks, an end to violence, and economic reconstruction for war-battered Gaza.We are now trying very hard to seize the very favorably created political atmosphere,of Obama's election to push the peace process forward, U.N. Secretary-General Ban Ki-moon told a news conference.Israel has rejected demands that it halt all settlement building, saying it must accommodate natural growth in the Israeli enclaves.However both the G-8 and the Quartet — the United States, Russia, European Union and United Nations — urged Israel to freeze all settlement activity, including natural growth, with the quartet also urging it to dismantle settlement outposts erected since March 2001.It was the first Quartet meeting since Obama came to office, held on the sidelines of a meeting of the G-8 foreign ministers in this picturesque Adriatic port on Italy's northeastern coast. At the G-8 meeting, ministers also said they deplored the postelection violence in Iran and urged the Tehran authorities to ensure the will of the Iranian people is reflected in the electoral outcome.
The G-8 meeting was to tackle the Afghanistan situation later Friday and Saturday.
Originally, Iran had been invited to attend the Afghan sessions, part of host Italy's aim to involve all regional players in discussions. But Rome rescinded its invitation following the crackdown on protesters, and the focus of the G-8 summit Friday shifted to criticizing the crackdown and pressing forward with Mideast peace.The G-8 and Quartet called for an immediate and sustained reopening of Gaza's crossing points to ensure a regular flow of people, as well as humanitarian and commercial goods into the isolated territory. While recognizing Israel's legitimate security concerns,the Quartet said enabling movement of and access for Palestinians was critical.Gaza's borders were closed by Israel and Egypt after the takeover two years ago of the territory by Hamas, considered a terrorist organization by the West. Hamas has repeatedly fired rockets from Gaza on Israeli border towns, setting off a three-week war by Israel on Gaza's Hamas leaders in the winter.Israel has allowed some humanitarian aid and food supplies into Gaza, but the reconstruction of Gaza's war damage, including thousands of damaged or destroyed homes, is on hold because Israel won't allow in cement or other building materials.The call of both the Quartet and the G-8 for a settlement freeze signaled broad international support for Obama's Mideast policy.The Bush administration had accepted the need for some settlement growth, something the Palestinians long rejected.But just last week, U.S. Secretary of State Hillary Clinton reiterated that the United States wanted a halt to settlement activity in the West Bank, saying no informal agreement that Israel may have reached with the Bush administration was valid. Clinton was speaking after a meeting with Israeli Foreign Minister Avigdor Lieberman, who said he wanted the Bush administration understandings to remain.The United States and Israel have at least publicly given no ground in their opposing views, though Israeli officials say they are trying to find a formula agreeable to Washington that would allow at least limited construction.The U.S. special Mideast peace envoy, George Mitchell, denied the United States and Israel were heading in opposite directions under Obama and Israeli Prime Minister Benjamin Netanyahu.
The United States and Israel are close friends and allies,Mitchell said Friday.
In discussions with Israeli officials as well as the Palestinians and Arab leaders, there may be some difference of opinions, but we discuss them not as a controversy among adversaries but as a discussion among friends,he said at a news conference after the Quartet meeting. The settlement issue is a major obstacle both to the resumption of Israeli-Palestinian negotiations and to an eventual peace deal. Nearly 300,000 Israelis live in West Bank settlements, along with 180,000 Israelis in Jewish neighborhoods of east Jerusalem. The Palestinians seek both areas, captured by Israel in the 1967 Mideast war, as parts of a future state. Earlier this month, Netanyahu grudgingly yielded to Obama's demand that Israel endorse the idea of a Palestinian state, albeit with a host of conditions the Palestinians reject.
But he rejected U.S. pressure for a settlement freeze.
The Quartet's special representative, former British Prime Minister Tony Blair, said the political push for a two-state solution had to be accompanied by changes on the ground, including an end to settlements and economic reconstruction for Gaza. The best way to ensure that Gaza is part of the solution and does not remain the problem is that we help the people,Blair said. You can never separate the politics and the security and the economics. They go together.In the statement, the Quartet welcomed plans by Israel to promote Palestinian economic development and called for robust and sustained financial support of the Palestinian Authority. It demanded the Palestinians commit themselves to nonviolence and recognize Israel. Ban, the U.N. chief, said there was a historic opportunity for Mideast peace, praising Obama's powerful, visionary speech delivered in Cairo earlier this month. Obama called for a new beginning between the United States and Muslims to confront violent extremism and to advance Mideast peace.The European commissioner for foreign relations, Benita Ferrero-Waldner, concurred.With the new Obama administration ... there is a new possibility of engagement. That has to be used. That is the way forward,she said.
2ND WAVE CHINA AND KINGS OF THE EAST MARCH TO ISRAEL
12 And the sixth angel poured out his vial upon the great river Euphrates; and the water thereof was dried up, that the way of the kings of the east might be prepared.(THIS IS THE ATATURK DAM IN TURKEY,THEY CROSS OVER).
DANIEL 11:44 (2ND WAVE OF WW3)
44 But tidings out of the east(CHINA) and out of the north(RUSSIA, MUSLIMS WHATS LEFT FROM WAVE 1) shall trouble him:(EU DICTATOR IN ISRAEL) therefore he shall go forth with great fury to destroy, and utterly to make away many.( 1/3RD OF EARTHS POPULATION)
12 One woe is past; and, behold, there come two woes more hereafter.
13 And the sixth angel sounded, and I heard a voice from the four horns of the golden altar which is before God,
14 Saying to the sixth angel which had the trumpet, Loose the four angels which are bound in the great river Euphrates.(IRAQ-SYRIA)
15 And the four angels were loosed, which were prepared for an hour, and a day, and a month, and a year, for to slay the third part of men.(1/3 Earths Population die in WW 3 2ND WAVE)
16 And the number of the army of the horsemen were two hundred thousand thousand:(200 MILLION MAN ARMY FROM CHINA AND THE KINGS OF THE EAST) and I heard the number of them.
17 And thus I saw the horses in the vision, and them that sat on them, having breastplates of fire, and of jacinth, and brimstone: and the heads of the horses were as the heads of lions; and out of their mouths issued fire and smoke and brimstone.(NUCLEAR BOMBS)
18 By these three was the third part of men killed, by the fire, and by the smoke, and by the brimstone, which issued out of their mouths.(NUCLEAR BOMBS)
US will not use force to inspect NKorean ship By KWANG-TAE KIM, Associated Press Writer – Fri Jun 26, 10:27 am ET
SEOUL, South Korea – The United States will not use force to inspect a North Korean ship suspected of carrying banned goods, an American official was quoted as saying Friday.An American destroyer has been shadowing the North Korean freighter sailing off China's coast, possibly on its way to Myanmar.Defense Undersecretary Michele Flournoy met with South Korean officials in Seoul on Friday as the U.S. sought international support for aggressively enforcing a U.N. sanctions resolution aimed at punishing Pyongyang for its second nuclear test last month. The North Korean-flagged ship, Kang Nam 1, is the first to be tracked under the U.N. resolution.North Korea has in response escalated threats of war, with a slew of harsh rhetoric including warnings that it would unleash a fire shower of nuclear retaliation and wipe out the (U.S.) aggressors in the event of a conflict.On Thursday, the communist regime organized a massive anti-American rally in Pyongyang where some 100,000 participants vowed to crush the U.S. One senior speaker told the crowd that the North will respond to any sanctions or U.S. provocations with an annihilating blow.That was seen as a pointed threat in response to the American destroyer.Flournoy said Friday that Washington has ruled the use military force to inspect the North Korean freighter.The U.N. resolution lays out a regime that has a very clear set of steps,Flournoy said, according to the Yonhap news agency.I want to be very clear ... This is not a resolution that sponsors, that authorizes use of force for interdiction.Flournoy said the U.S. still has incentives and disincentives that will get North Korea to change course.
Everything remains on the table, but we're focused on implementing the resolution fully, responsibly and with our international partners,she said.Flournoy's trip came as the U.S. sought international support for aggressively enforcing the U.N. sanctions.It is not clear what was on board the North Korean freighter, but officials have mentioned artillery and other conventional weaponry. One intelligence expert suspected missiles.The U.S. and its allies have made no decision on whether to request inspection of the ship, Pentagon press secretary Geoff Morrell said Wednesday in Washington, but North Korea has said it would consider any interception an act of war.If permission for inspection is refused, the ship must dock at a port of its choosing, so local authorities can check its cargo. Vessels suspected of carrying banned goods must not be offered bunkering services at port, such as fuel, the resolution says.A senior U.S. defense official said the ship had cleared the Taiwan Strait. He said he didn't know whether or when the Kang Nam may need to stop in some port to refuel, but that the ship has in the past stopped in Hong Kong's port.
Another U.S. defense official said he tended to doubt reports that the Kang Nam was carrying nuclear-related equipment, saying information seems to indicate the cargo is banned conventional munitions. Both officials spoke on condition of anonymity in order to talk about intelligence.North Korea is suspected to have transported banned goods to Myanmar before on the Kang Nam, said Bertil Lintner, a Bangkok-based North Korea expert who has written a book about leader Kim Jong Il.South Korea, meanwhile, plans to use high-tech surveillance and weapons systems to counter North Korea's missile and nuclear programs, Defense Minister Lee Sang-hee said in a Friday briefing.South Korea plans to employ unmanned reconnaissance planes and add "bunker-buster bombs to its arsenal in case of signs that the North planned to launch an attack toward the South, Lee said.Associated Press writers Jae-soon Chang in Seoul, and Pauline Jelinek in Washington, contributed to this report.
G8 countries condemn North Korea's missile tests Fri Jun 26, 2:09 pm ET
TRIESTE, Italy – Foreign ministers from Group of Eight countries on Friday condemned North Korea's nuclear and missile tests and urged the country to return to the negotiating table.
After its nuclear explosion last month, the United Nations slapped sanctions on Pyongyang.We condemn in the strongest terms the nuclear tests in May, and the April launch using ballistic missile technology,which constitute a threat to regional peace and stability,the G-8 foreign ministers said in a statement during their meeting in Italy.They welcomed the U.N. Security Council resolution calling on all 192 U.N. members to inspect North Korean vessels on the high seas,if they have information that provides reasonable grounds to believe that the cargo contains banned weapons or material to make them, and if approval is given by the country whose flag the ship sails under.The foreign ministers urged Pyongyang to abide by U.N. resolutions and abandon all nuclear weapons and existing nuclear programs as well as ballistic missile programs.The ministers called on North Korea not to conduct further destabilizing actions and to return to six-nation disarmament talks.Japanese Foreign Minister Hirofumi Nakasone said during a news conference that the tests conducted in April and May are a challenge to the peace and the stability of the international community, and this is something that we cannot abide by.In Washington, officials said the White House will dispatch a career diplomat to Beijing and other capitals in coming days to coordinate implementation of the new U.N. sanctions on North Korea.
Philip S. Goldberg, who has served as U.S. ambassador to Bolivia and other countries, will lead a delegation representing other key U.S. departments, including Treasury, Defense and State. He also will be the administration's full-time North Korea sanctions coordinator, according to two senior administration officials who discussed the plan on condition of anonymity because it has not been publicly announced.
Associated Press writer Robert Burns in Washington contributed to this report.