MARKETS PLUNGE AROUND WORLD

HOARDING OF GOLD AND SILVER

DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

REVELATION 18:10,17,19
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.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

REVELATION 13:16-18
16 And he(FALSE POPE) causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM

THE STOCK MARKET IS SELLING OFF ALL OVER THE WORLD. ITS NOT THE TOTAL COLLAPSE YET BUT THE NATIONS ARE IN DISTRESS LIKE THE BIBLE SAYS WOULD HAPPEN IN THE LAST DAYS. I WILL PUT A MID DAY AND CLOSING DAY REPORT TO SEE WHAT HAPPENS. THIS IS HAPPENNING ON JAN 22,08 I DATED AHEAD BECAUSE OF MY OTHER POSTS

WELL THE SKEPTICS OF PROPHECY BETTER START REALIZING GOD (JESUS) IS IN CONTROL OF WORLD EVENTS AND ALL THE PROPHECIES IN THE BIBLE WILL BE FULFILLED IN THIS LAST GENERATION TO SEE JERUSALEM CONTROLED BY THE ISRAELIS. A GENERATION IN THE BIBLE IS FROM 40 TO 51.4 YEARS. ISRAEL CAPTURED JERUSALEM JUNE 5-10,1967 AND ITS 40 YEARS NOW SINCE THE JEWS CAPTURED JERUSALEM, NO COINCIDENCE THAT THE MARKETS ARE CRASHING AS THE BIBLE FORTOLD IT AND ALL THE PROPHECIES WILL QUICKLY COME TO PASS FROM HERE ON IN.

MID DAY REPORT 12:30 PM EST

Dow drops 465 then gains most of it back By MADLEN READ, AP Business Writer JAN 22,08

NEW YORK - Wall Street struggled to steady itself Tuesday, climbing back from an early plunge after the Federal Reserve cut interest rates in hopes of restoring stability to a faltering U.S. economy. The Dow Jones industrials, down 465 points at the start of the session, recovered to a loss of about 175 points. The U.S. markets joined a global selloff amid growing fears that a recession in the United States could send economies around the world into a downturn. Though stocks regained ground as investors digested the Fed's move to cut the key interest rate by 0.75 percentage point and bargain-hunters entered the market, trading remained volatile and the major indexes fluctuated sharply, at times approaching the break-even point before heading down again.Analysts saw little, if any, optimism driving the market, particularly since Tuesday's drop followed months of losses on Wall Street.Sometimes market bottoms are not made by specific events, but by exhaustion, said Peter Boockvar, equity strategist at Miller Tabak.

Stocks have plunged, with frequent triple-digit drops in the Dow, as investors took in a stream of weak economic data and reports that financial firms had lost billions of dollars due to the housing and mortgage crisis. With the housing and credit markets unlikely to turn around soon, and more disappointing economic news expected, investors were likely to keep shying away from stocks.

No one expected an interest rate cut alone to erase investors' concerns. For the market to truly gain a foothold, investors need to see strong economic data in the coming weeks and solid earnings reports and forecasts this week from big multinational companies like Microsoft Corp., AT&T Inc., Caterpillar Inc. and Honeywell International Inc.If that doesn't happen, then all this is a short-term bottom before a resumption of selling, Boockvar said.U.S. bonds were mixed, with investors seeking safer investments as stocks declined. The price of oil, meanwhile, fell amid expectations that a downturn would depress demand for energy.The Fed lowered the target federal funds rate, or the interest banks charge one another for overnight loans, to 3.50 percent and the discount rate, the interest the Fed charges banks directly, to 4 percent. The decision came a week before the central bank's regularly scheduled meeting, a sign that it acknowledges that the world's financial situation is serious.

It can take months for an interest rate cut to work its way through the economy. In the short term, it makes borrowing cheaper, but the billions of dollars in failed mortgages over the past year have made lenders wary of writing loans to almost anyone — consumers or corporations. And the heavy losses that banks and other financial institutions have suffered have raised questions about their stability.Some analysts were waiting to see what else the Fed would do.It's just not enough yet. The Fed has got to do a lot more than just lower rates. They've got to inject more liquidity, said Harry Clark, president of Clark Capital Management in Philadelphia.The Dow was down 178.18, or 1.47 percent, at 11,921.12. The Dow was last below 12,000 in March 2007.The broader Standard & Poor's 500 index was off 22.19, or 1.67 percent, at 1,303.00, while the Nasdaq composite index fell 54.50, or 2.33 percent, to 2,285.52.On the Net:
New York Stock Exchange: http://www.nyse.com
Nasdaq Stock Market: http://www.nasdaq.com

Fed cuts interest rate 3/4 of a point By MARTIN CRUTSINGER, AP Economics Writer JAN 22,08

WASHINGTON - The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, slashed a key interest rate by three-quarters of a percentage point on Tuesday and indicated further rate cuts were likely. The surprise reduction in the federal funds rate from 4.25 down to 3.5 percent marked the biggest funds rate cut on records going back to 1990.Federal Reserve Chairman Ben Bernanke and his colleagues took the action after an emergency video conference on Monday night, a day when global markets had been pounded by rising concerns that weakness in the world's largest economy was spreading worldwide.Despite the Fed's bold move, Wall Street plunged at the opening. The Dow Jones industrial average was down 311.99 points in the first hour of trading.In a brief statement explaining its move, the Fed said that appreciable downside risks to growth remain and officials pledged to act in a timely manner to deal with the risks facing the economy. The action was approved on an 8-1 vote.Analysts said the fact that the Fed did not wait until its meeting next week to cut rates underscored the seriousness of the situation.

The world's stock markets are in meltdown so the Fed came in with an inter-meeting move to try to stop the panic, Christopher Rupkey, senior economist at Bank of Tokyo-Mitsubishi.The Bush administration, which had announced on Friday that President Bush supported a $150 billion economic stimulus package, said Tuesday that it was not ruling out doing more than the $150 billion proposal if necessary.Many analysts said if the carnage continues in stock markets, the Fed will move to cut rates again at its Jan. 29-30 meeting.This move is not an instant fix, said Ian Shepherdson, chief U.S. economist at High Frequency Economics. The economy is still staring recession in the face, but at least the Fed now gets it.In addition to cutting the funds rate, the Fed said it was reducing its discount rate, the interest it charges to make direct loans to banks, by a similar three-quarters of a percentage point, pushing this rate down to 4 percent.Commercial banks responded to the Fed's action on the funds rate by announcing similar cuts of three-quarter of a percent on its prime lending rate, the benchmark for millions of business and consumer loans. The action will mean the prime lending rate will drop from 7.25 percent down to 6.50 percent.

The Fed action was the most dramatic signal it can send that it is concerned about a potential recession in the United States.The Fed action occurred after global financial markets had plunged Monday as investors grew more concerned about the possibility that the United States, the world's largest economy, could be headed into a recession. Many markets suffered their biggest declines since the September 2001 terrorist attacks.In its statement, the Fed said it had decided to cut the federal funds rate in view of a weakening of the economic outlook and increasing downside risks to growth.The central bank said that the strains in short-term credit markets have eased a bit, but broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.The move caught financial markets by surprise. Many had expected the central bank would wait until its meeting next week to make any move in interest rates. The Fed made the move before markets had opened in the United States.

Before Tuesday's move, the Fed had cut interest rates three times, beginning in September, the month after a severe credit crunch had roiled Wall Street and global financial markets. The Fed cut the funds rate by a half-point in September and then by smaller quarter-point moves in October and December. The committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risk, the Fed statement said. The Fed's action was approved on an 8-1 vote with William Poole, president the Fed's regional bank, dissenting. The statement said that Poole objected because he did not believe current conditions justified a rate move before the Fed's meeting next week.

DAY WRAP UP REPORT AROUND 7 PM

US moves to avert economic meltdown By TERENCE HUNT, AP White House Correspondent JAN22,08

WASHINGTON - Jolted by global recession fears, the Federal Reserve slashed interest rates Tuesday, and President Bush and leaders of Congress joined in a rare show of cooperation in promising urgent action to pump up the economy with upwards of $150 billion in tax cuts and government spending. Market meltdowns overnight around the globe and growing anxiety at home stirred lawmakers and the administration toward swift action, possibly within a few weeks. Wall Street plummeted as the day began, following Asian stocks, then warily eased its sell-off after the Fed ordered the biggest cut on record in a key interest rate. The Dow Jones industrials, down 465 points at one point, closed the day off 128.The Fed, announcing its action after an emergency video conference Monday night, indicated further rate reductions were likely, aimed at encouraging people and companies to start spending again.The urgency that we feel at home is now even more urgent as we see the impact of our markets on others, House Speaker Nancy Pelosi said after both Democratic and Republican lawmakers met with Bush at the White House.Senate Majority Leader Harry Reid said the goal was to get a deal through Congress and on Bush's desk within roughly three weeks — lightning speed compared with the usual snail's pace on Capitol Hill. Bush expressed confidence that he and the Democratic-led Congress could put aside bitter differences that have marked his presidency.

I believe we can find common ground to get something done that's big enough, effective enough so that an economy that is inherently strong gets a boost — to make sure that this uncertainty doesn't translate into more economic woes for our workers and small business people, Bush said in the Cabinet Room.I've got reasonable expectations about how fast something can happen, the president said. But I'm also optimistic something will happen.Later, announcing the creation of a panel to educate people about their finances, Bush said he thought there would ben an agreement in relatively short order.The White House meeting was intended to show the world that Bush and his Democratic adversaries recognize the gravity of the economic slowdown and are serious about protecting consumers and investors who have watched their holdings shrink. Wall Street and global markets fear the stimulus package outlined by Bush is not enough to avert a recession. The Dow Jones industrial average is down nearly 10 percent since the beginning of the year — its worst first 14 trading days ever.Official Washington was accentuating the positive.I really feel good that we have an opportunity to do something together, Reid said, standing in the White House driveway with Pelosi after talking with Bush. Reid said the size of a deal suggested by Bush was a good number.

Administration officials are focusing on rebates of $800 to $1,600 for individuals and couples and so-called bonus depreciation to allow companies to deduct 50 percent of business investments made this year. Democrats say the package also should include boosts in unemployment benefits, food stamp payments and the Medicaid health care program for the poor and disabled. Talks between Pelosi and Minority Leader John Boehner, R-Ohio, have focused on smaller tax rebates of perhaps $500 for individuals.Like Bush, lawmakers would not discuss what a compromise plan would look like, stressing cooperation rather than potential differences over details.This is about one thing in this package: Is it a stimulus? Pelosi said So whatever it is that we are considering, it must meet that one criterion: Does it stimulate the economy? Does it put money into the hands of those who will spend it? When the Democratic leaders were asked if they agreed with Bush's statement that the economy is inherently strong, Pelosi said, I certainly hope so.Reid said the House would pass a package first and send it to the Senate.Treasury Secretary Henry Paulson went to Capitol Hill for talks on the ingredients of the economic package. Time is of the essence and the president stands ready to work on a bipartisan basis to enact economic growth legislation as soon as possible, he said earlier in a speech at the U.S. Chamber of Commerce.Many analysts say the United States already has tumbled into a recession — a notion rejected by the White House. We are not forecasting a recession, spokeswoman Dana Perino said. Clearly there is a slowdown.Leaving open the possibility of a bigger stimulus package, she said, I'm not going to close the door but I'm not suggesting that anyone believes it has to be bigger than the roughly $150 billion figure already discussed. Later, she said the White House has not seen higher numbers floated by members of Congress and that Bush believes the package he has outlined is the right amount.

The Fed's rate cut caught Washington by surprise. Federal Reserve Chairman Ben Bernanke and his colleagues approved the cut Monday night after global markets were slammed by rising concerns that weakness in the world's largest economy was spreading worldwide.
The world's stock markets are in meltdown, so the Fed came in with an inter-meeting move to try to stop the panic, said Christopher Rupkey, senior economist at Bank of Tokyo-Mitsubishi. The reduction in the federal funds rate from 4.25 percent to 3.5 percent marked the biggest reduction in this target rate for overnight loans on records going back to 1990. It marked the first time the Fed has changed rates between meetings since 2001, when the central bank was battling the combined impacts of a recession and the terrorist attacks. Commercial banks responded by announcing similar cuts of three-quarter of a percent in their prime lending rate, the benchmark for millions of business and consumer loans. The action will mean the prime lending rate will drop from 7.25 percent down to 6.50 percent. Analysts said the fact that the Fed did not wait until its meeting next week to cut rates underscored the seriousness of the situation. The Fed was expected to cut rates further, possibly as soon as their next meeting on Jan. 29-30, if there are continued signs that the economy is weakening. This move by the Fed was essential, said Lyle Gramley, a former Fed governor who is now a senior analyst with the Stanford Financial Group in Washington. Bernanke promised in a speech earlier this month to take substantive action in a timely and decisive manner.Associated Press writers Martin Crutsinger, Andrew Taylor, Deb Riechmann and Ben Feller contributed to this report.

Asia Stock Markets Fall As US Recession Worries Grow
By Heda Bayron Hong Kong 22 January 2008

Asia's stock markets saw another bruising trading day as investors continued to dump shares, scared of a possible U.S. recession. VOA's Heda Bayron reports from Hong Kong. With no positive news about the U.S. economy, turbulence continued to rock Asia's stock markets Tuesday. Japan's Nikkei 225 index fell 5.7 percent. China's benchmark Shanghai Composite Index plunged more than seven percent, while Taiwan's index tumbled 6.5 percent.Stock analysts say Asia's export-driven economies will feel the pinch of any slowdown in the U.S. Ernie Hon, stock strategist at ICEA Securities in Hong Kong, says some investors are looking toward the U.S. Federal Reserve for relief.I think it really depends on what the U.S. Federal Reserve will do in the coming few days, said Hon. Actually, I'm betting the Fed will cut interest rates before [the FOMC meeting at] the end of this month, maybe within this week. Then there may be some stimulus to the market.The Hang Seng index dived eight percent. Trading was briefly suspended in South Korea as the market dropped more than six percent - it closed 4.4 percent down. Trading in India was also halted for an hour after the market plunged nearly 10 percent.

In Australia, Prime Minister Kevin Rudd tried to assure investors that the economy remains strong even as the Australian Stock Exchange All Ordinaries Index lost seven percent Tuesday, its biggest one-day percentage fall in nearly 20 years.It's important though at times like this that we emphasize again the strength of the fundamentals of the Australian economy, said Mr. Rudd. Economic management, responsible economic management is the core business of this Australian government.Investors in Asia are looking anxiously toward the U.S. A drop in U.S. interest rates could halt a fall in U.S. consumption - an indicator of demand for Asian exports. It could also make the stocks more attractive investments than bonds.
But with mounting losses from bad housing loans and Washington's failure to deal promptly with the problem, analysts say investor confidence will remain shaky.

Market plunge is storm warning for world leaders Reuters Tuesday January 22 2008 (Adds Fed rate cut, quotes from Davos as delegates arrive)By Mike Dolan

DAVOS, Switzerland, Jan 22 (Reuters) - Steep stock market losses and a dramatic U.S. interest rate cut on Tuesday rang a storm warning for business leaders and policy-makers meeting in Switzerland this week as they assess the need for a more global response to a looming U.S. recession.Leaders of the European Central Bank, International Monetary Fund and U.S. officials will face calls for coordinated action following some of the biggest one-day losses in European and Asian equities since the Sept. 11, 2001 attacks on the United States.Despite the Federal Reserve's emergency interest rate cut of three-quarters of a percentage point on Tuesday, investors are looking to the gathering at World Economic Forum in Davos to shore up confidence that has been drained by the continued fallout from last year's credit and banking shock.

Europe's response -- particularly that of the inflation-focussed European Central Bank -- will be critical.The ECB has stuck fast to its line that fighting elevated inflation takes priority over addressing a possible slowdown in growth and there were few signs on Tuesday of that changing.ECB Vice President Lucas Papademos said in Luxembourg the bank would act swiftly to ensure money markets functioned smoothly, but added: It's more important than ever that central banks continue to pursue policy on price stability.
Business optimism among the world's top companies has fallen for the first time in five years, according to a survey by consultant PricewaterhouseCoopers released at Davos on Tuesday, and few now believe the rest of the world can escape a U.S.-led downturn.
I don't think there is a country that will avoid the effects, including South Africa, the leader of South's Africa's ruling African National Congress Jacob Zuma told Reuters as he arrived in the Swiss resort.

CRITICAL MASS AT DAVOS?

ECB President Jean-Claude Trichet, Bundesbank President Axel Weber, Bank of Italy chief Mario Draghi and Christian Noyer from the Bank of France are all due in Davos over the next four days.New York Fed chief Timothy Geithner is also on the list.With market and business confidence at such a low ebb, investors are seeking some united front from the massed ranks of central bankers, treasury chiefs and corporate executives..Financial market veterans frequently note that one of the catalysts for the 1987 stock market crash was very public disagreements between the United States and Europe over the appropriate monetary and fiscal policy actions needed.As banks across the world continue report eye-watering losses from the credit shock, they are rapidly scaling back lending to businesses and consumers.Billionaire investor George Soros, expected at Davos later, said the world was facing the worst financial crisis since World War Two and the United States was threatened with recession, according to an interview with the Austrian daily Standard.
Some of the policy-makers necessary to form a critical quorum at Davos have dropped out of the event over the past week due to intense domestic demands.U.S. Treasury Secretary Henry Paulson, who is in the middle of presenting a U.S. fiscal stimulus package worth about $150 billion, and British finance minister Alistair Darling have both withdrawn at short notice.The U.S. Treasury delegation still includes Under Secretary for International Affairs David McCormick, a key diplomat at next month's critical G7 finance meeting in Tokyo.International Monetary Fund chief Dominique Strauss-Kahn and the head of Organisation for Economic Cooperation and Development, Angel Gurria, both address the Davos meeting.

WHAT'S THE WORRY?

The root of last year's reversal of global economic fortunes lies in a U.S. real estate bust, but the financial seizure was essentially global.Apart from last month's relatively successful though limited central bank action to defuse tensions in bank-to-bank lending, international policy reactions have been uneven.
On one hand, the Fed and U.S. Treasury have almost spooked investors with the extent to which they have signalled further rate cuts and tax relief already this year.Some investors who fear a full-blown recession may already be underway in some U.S. states reckon that even these measures may not take hold soon enough to prevent a painful economic contraction.UK Prime Minister Gordon Brown -- in Davos on Friday -- has called for the IMF to take a lead in international financial crises. However, Britain's response to the crisis is clouded by its focus on rescuing stricken mortgage lender Northern Rock.Whatever the obstacles to concerted policy moves, the market slide will certainly focus minds in Davos and traders will watch all suggestions of action with nervous interest.
For full coverage, blogs and TV from Davos see: http://uk.reuters.com/news/globalcoverage/worldeconomicforum2008 (Additional reporting by Natsuko Waki and Ben Hirschler; Editing by Tom Hals)