ROUSTABOUT THURSDAY

STORMS HURRICANES-TORNADOES

LUKE 21:25-26
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.

Tropical Storm Odile forms in Pacific Ocean Thu Oct 9, 5:02 AM ET

MIAMI - The National Hurricane Center says Tropical Storm Odile has formed in the Pacific Ocean. Meanwhile, Hurricane Norbert has weakened to a Category 3 hurricane as it lumbers on a path expected to take it to Mexico's southern Baja California peninsula over the weekend.Odile, the 15th named storm of the Eastern Pacific hurricane season, has maximum sustained winds near 40 mph (65 kph). But the storm is expected to strengthen.Odile is centered about 315 miles (505 kilometers) southeast of Puerto Angel, Mexico. Forecasters expect Odile's center to head northwest, moving parallel to Mexico's Pacific coast but offshore.Northwest of Odile, Hurricane Norbert's winds have decreased slightly to 125 mph (205 kph), but forecasters say it remains a dangerous storm.

Norbert becomes Category 4 hurricane in Pacific By JULIE WATSON, Associated Press Writer Wed Oct 8, 11:58 PM ET

CIUDAD OBREGON, Mexico - Hurricane Norbert strengthened Wednesday into an extremely powerful Category 4 storm off Mexico's Pacific coast and was on track to hit the southern Baja California peninsula over the weekend. The U.S. National Hurricane Center said Norbert will likely turn toward the northeast over the next two days en route to the Baja peninsula and Mexican mainland. Officials across the region were setting up shelters and preparing for possible evacuations from low-lying regions.

In Ciudad Obregon, across the Sea of Cortez from Baja California, farmers were rushing to finish fertilizing their fields before the hurricane hit. At the Fiesta Inn hotel, workers were sealing wood decks to prepare for the heavy rains.The storm had maximum sustained winds near 135 mph and was moving west-northwest at near 9 mph late Wednesday, the hurricane center said. It was expected to reach a relatively unpopulated stretch of coast well north of Cabo San Lucas before dawn Saturday.

Norbert was centered about 420 miles south of the southern tip Baja California on Wednesday night.Baja residents were waiting to see what the storm would do before preparing.Everything is very calm right now. Only a sporadic shower or two, said Elizabeth Guillien, manager of Hotel Conquistador in Ciudad Constitucion, a town in the southern peninsula.Norbert is the seventh hurricane of the east Pacific season.

Further south, a tropical depression formed Wednesday off Central America's Pacific coast, near the El Salvador-Nicaragua border. Maximum sustained winds were near 35 mph.The depression was dumping rain across Central America as it headed toward Mexico's southern coastline. Forecasters warned it could cause mudslides.And in Mexico's Gulf coast, Tropical Storm Marco was a rain shower Wednesday after slamming into land with near hurricane-force winds and leaving flooding in its wake.

CNN NEWS VIDEO
http://edition.cnn.com/video/

YAHOO NEWS VIDEO
http://news.yahoo.com/video

MIDEAST CONFLICT NEWS
http://news.yahoo.com/video/1874;_ylt=A0wNcxFdg6xIgbkAwD6z174F

ABC NEWS VIDEO
http://news.yahoo.com/video/2461

FOX NEWS VIDEO
http://news.yahoo.com/video/3074

FOX BUSINESS VIDEO
http://news.yahoo.com/video/3045

AP NEWS VIDEO
http://news.yahoo.com/video/2529

BBC NEWS VIDEO
http://news.yahoo.com/video/2918

REUTERS VIDEO NEWS
http://news.yahoo.com/video/2704

AFP NEWS VIDEO
http://news.yahoo.com/video/3091

CNBC NEWS VIDEO
http://news.yahoo.com/video/3245

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

WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/

PSALMS 39:6
6 Surely every man walketh in a vain shew: surely they are disquieted in vain: he heapeth up riches, and knoweth not who shall gather them.

HALF HOUR DOW RESULTS THU OCT 09,2008

09:30 AM +97.89
10:00 AM +52.49
10:30 AM -30.58
11:00 AM -94.78
11:30 AM -121.94
12:00 PM -80.68
12:30 PM -65.31
01:00 PM -86.86
01:30 PM -13.84
02:00 PM -91.19
02:30 PM -150.69
03:00 PM -205.74
03:30 PM -389.47
04:00 PM -678.91 8579.19

S&P 500 909.92 -75.02

NAS 1645.12 -95.21

GOLD 919.8 +13.3

OIL 84.69 -4.26

TSE 300 -456.13 9,600.18

CDNX -30.97 1,041.67

S&P/TSX 60 -31.51 579.93

Dow drops below 8600 points.
Dow drops below 9000 points.
Dow drops for 7th straight day.
Dow drops from 250 points to 650 points in last hour.
Crude down 4%.
GM down almost 31%. down to 5.00 lowest since 1950.
S&P puts GM on down watch, credit watch negitive.
S&P drops 42% from all-tim high one year ago today.
Dow falls 37% from all-time high one year ago today.
Nasdaq down 5.5% today.
Dow falls 7.2% today. 675 points.
Stocks fall to 5 year lows.
volume in the last hour 1.75 billion shares traded.
Dow falls from 577 at close to 678.91.
Dow falls to below 9000, 10000 2 days ago, 11000 9 days ago.

WHAT AILS US

-Concerns about wider losses.
-capital raising.
-longer term problem:no E in P/E

S&P 500 PRICE 975 POINTS

Earnings EST. 2009: $75, 975/$75 = 13X EARNINGS.
AVERAGE: 15X EARNINGS. But $75 earnings way to high.
ASSUME $60 earnings: To get 13X EARNINGS (CHEAP)
S&P has to go to 800 points. 800/$60 = 13.3X EARNINGS.

Traders try to get rid of the stocks because of redemptions and margine calls.

3PM DISASTER HOUR. THE ISSUES.
1 - Forced selling, redemptions the source of late-day selling.
2 - Contining uncertainty in credit markets.
3 - How to determine earnings with credit uncertainty.
4 - Financials: concerns about wider losses, Capital raises.

DAVID ICKE ON THE GLOBAL ECONOMY
http://britanniaradio.blogspot.com/2008/10/alex-jones-prisonplanettv-broadcast.html

Treasury may capitalize banks by end of October: source By Karey Wutkowski
OCT 9,08

WASHINGTON (Reuters) - The U.S. Treasury Department plans to start directly injecting capital in U.S. banks as soon as the end of October in exchange for passive investment stakes, according to a financial policy source familiar with Treasury Secretary Henry Paulson's thinking. Using authority granted to it by last week's $700 billion market rescue legislation, Treasury would get common or preferred shares in the banks it capitalizes, the source told Reuters on Thursday. The government does not intend to seek seats on companies' board of directors in the voluntary capitalization program.White House spokeswoman Dana Perino said later on Thursday that Paulson is actively considering capital injections into troubled U.S. banks.Secretary Paulson is looking at all the different tools to figure out which ones should be used at what time and how robustly and how much money to put into each, she said.A Treasury spokesperson declined to comment in detail but said: Treasury has broad, flexible authorities under the financial rescue legislation to buy assets, provide guarantees and inject capital and intends to consider all of them.If the U.S. Treasury does inject capital into banks, it would be following the playbook of the British government, which on Wednesday pledged up to $87 billion to shore up banks' capital in exchange for preference shares.The source familiar with Paulson's thinking said Treasury was working extremely fast to put together a capital injection plan.The effect of injecting capital would be to boost banks' capacity to lend, thus complementing the bailout bill's objective of removing soured mortgage-backed assets weighing on banks' balance sheets.

Some critics of the proposals for buying soured mortgage-related products have said the process would take so long that it would reduce its efficiency, whereas a capital injection through share purchases would immediately put more cash for lending into the banking system.The question may be whether banks are willing to accept the government as a stakeholder in return for the new capital.The source said the injections would likely be made public, possibly inducing some reluctance among bankers to use it for fear that they would be identified as vulnerable institutions.

In addition, it was unclear whether a bank that wanted to participate would have to agree to conditions like limits on executive pay and an end to golden parachutes, or rich pay packets for departing executives.While public fury remains high at what is perceived as excessive pay for financial firms, corporations are generally reluctant to cede control over compensation levels, perhaps especially so to the government.

Paulson made clear on Wednesday that he interprets the authority granted by the financial rescue package as sweeping and that he intends to make full use of it. He said most attention has focused on Treasury plans to buy distressed securities from banks but made clear that wasn't the extent of his new authorities.We will use all of the tools we've been given to maximum effectiveness, including strengthening the capitalization of financial institutions of every size, he said.(Additional reporting by Andy Sullivan and Glenn Somerville; Editing by Leslie Adler)

Dow industrials fall over 600 points, below 9,000 By TIM PARADIS, AP Business Writer OCT 9,08

NEW YORK - Stocks have stepped up their selling in the final hour of trading. The Dow Jones industrial average is off more than 600 points, dropping below the 9,000 mark for the first time in five years. Financial, energy and health care stocks led the decline Thursday. General Motors Corp. led the Dow lower, falling nearly 30 percent.The Dow is down 645.62, or 6.97 percent, to 8,612.48. The blue chips hadn't fallen below the 9,000 level since Aug. 6, 2003.

UK calls for EU-wide rescue plan
LEIGH PHILLIPS Today OCT 9,08 @ 09:29 CET

In a sharp about face, UK Prime Minister Gordon has written to EU leaders encouraging the creation of a Europe-wide funding plan to tackle the worsening financial crisis.As recently as last week, Mr Brown said his country was opposed to any EU-wide rescue package.Writing to French President Nicholas Sarkozy on Wednesday (8 October), the British leader gave details on the UK's own £500 billion (€630 billion) plan announced yesterday morning and added that a concerted international approach was needed. The letter was also copied to other EU government leaders.

Speaking to reporters after announcing the UK plan, Mr Brown said he had also spoken to the French leader.We have invited other European countries to consider proposals we have put to them this morning on medium term funding and are in active consultation about how we can adopt a European-wide funding plan, he said.The UK plan that part-nationalises the country's banking sector will deploy £50 billion to buy preference shares in banks, £200 billion in short-term loans and an additional £250 billion to guarantee loans between banks.Meanwhile, Mr Sarkozy, whose country currently chairs the bloc's six-month rotating presidency, has suggested fresh EU actions will soon be taken.France and the European presidency are working on this global, co-ordinated response and in the hours ahead we will have concrete results, he said during a conference in the southeast of the country.The French president gave no details on the response and also seemed to suggest that the Brown plan was not a model for EU-wide planning, saying the UK bail-out was perfectly adapted to the situation his country is in.Separately, the French prime minister, Francois Fillon, told his country's parliament that France had set up its own fund to support banks, but that institutions would continue to be aided on an ad-hoc basis.

No Italian bank will fall

Meanwhile, Italy yesterday also passed a decree supporting the country's banks through a part-nationalisation, although no explicit amount of funds has been mentioned. Cash will be offered to banks in exchange for non-voting shares in the institutions.No Italian bank will fail. No Italian saver is at risk, Prime Minister Silvio Berlusconi said.Economy minister Giulio Tremonti however underscored that the move did not amount to a rescue fund, and, as in France, banks would be offered the money on a case-by-case basis.The Italian government also guaranteed deposits up to €103,000.Slovenia yesterday also announced extended bank guarantees. In the Balkan country's case, all private and small business savings are now protected.The Slovenian government wants to provide the same guarantees as other EU countries, therefore we will introduce unlimited state guarantee for bank deposits (of private individuals and small companies), finance minister Andrej Bajuk told reporters.

Stock market turmoil

Further to the east, Romania, Russia and Ukraine all temporarily suspended trading in their stock exchanges on Wednesday to prevent further slides in shares.Russia's bourses, the RTS and Micex were closed for two days after the former dropped 11 percent and the latter 14.4 percent ahead of the trading suspension.The Bucharest Stock Exchange in Romania halted trading after shares dropped a full 15 percent after just an hour, while in Ukraine, trading was suspended before the market opened.

Administration ponders ownership stakes in banks By MARTIN CRUTSINGER, AP Economics Writer OCT 9,08

WASHINGTON - The Bush administration is considering taking part ownership in certain U.S. banks as an option for dealing with a severe global credit crisis. An administration official, who spoke on condition of anonymity because no decision has been made, said the $700 billion rescue package passed by Congress last week allows the Treasury Department to inject fresh capital into financial institutions and get ownership shares in return.This official said all the new powers granted in the legislation were being considered as the administration seeks to deal with a serious credit crisis that has caused the biggest upheavals on Wall Street in seven decades and continues to roil global markets.Supporters of this approach, such as Sen. Charles Schumer, D-N.Y., argue that injecting fresh capital into U.S. banks who want to participate in the program would be an effective way to bolster banks' balance sheets and get them to resume lending. Taxpayers would benefit because the government would receive an equity stake in the bank in return for providing the capital.This idea would, at a minimum, complement the administration's planned approach of buying up troubled assets and may prove to be the most promising tool of all in Secretary Paulson's kit, Schumer said in a statement.A decision to inject capital directly into financial institutions in return for ownership stakes would be similar to a plan announced Wednesday by Britain.Treasury Secretary Henry Paulson told reporters that Treasury was moving quickly to implement the $700 billion rescue effort and he specifically mentioned reviewing ways to bolster the capital of banks.

We will use all the tools we've been given to maximum effectiveness, including strengthening the capitalization of financial institutions of every size, Paulson said at a Wednesday news conference.Asked whether he would try something like the British plan, Paulson said: We have a broad range of authorities and tools. ... We've emphasized the purchase of liquid assets, but we have a broad range of authorities. And I'm confident we have the authorities we need to work with going forward.The administration so far has stressed its major goal is to purchase bad loans from financial institutions.Paulson said that while the financial market turmoil has hurt the economy, the administration is moving quickly to begin the largest financial system rescue effort in history.Even with the program to buy bad assets from financial institutions, he said, some banks will fail. He also called for patience, saying the turmoil will not end quickly and significant challenges remain ahead.In an attempt to help stop the financial crisis from causing a global economic recession, the Federal Reserve and other central banks cut interest rates in a rare coordinated move Wednesday.Paulson called the coordinated rate cuts a welcome sign that central banks around the world are prepared to take the necessary steps to support the global economy during this difficult time.Paulson on Monday selected Neel Kashkari, 35, an assistant Treasury secretary, to be the interim head of the new program. In his remarks Wednesday, Paulson said the administration would move quickly to nominate someone to fill the job permanently.

Paulson said he was consulting with President Bush, congressional leaders and presidential candidates Barack Obama and John McCain before choosing someone to fill the job permanently. The post requires Senate confirmation, something Paulson predicted could occur in November.The administration has been rushing to implement the program, which cleared Congress last Friday. Paulson said it would be several weeks before the program makes its first purchases of troubled assets.U.S. and global financial markets continue to be severely strained, Paulson said at the briefing called to preview the upcoming weekend meetings of finance officials of the Group of Seven major industrial countries, the 185-nation International Monetary Fund and the World Bank. The global credit crisis was expected to be the major agenda item at those talks.

Iceland suspends stock trading, creates new bank By JANE WARDELL, AP Business Writer OCT 9,08

REYKJAVIK, Iceland - Iceland suspended trading on its stock exchange for two days and took control of the country's largest bank — the third to be placed under its protective umbrella — on Thursday as it grappled with a banking crisis that is threatening to engulf the entire country. The Nordic nation's government also used sweeping new emergency powers to create a new bank that will take over the bulk of the domestic operations of another one of its collapsed banks.The country is struggling to get a grip on the collapse of its top-heavy banking system, a situation that Prime Minister Geir H. Haarde has warned is putting Iceland at risk of national bankruptcy.Government officials announced that President Olafur Ragnar Grimsson was hospitalized Monday and Tuesday after undergoing coronary angioplasty and coronary dilation. Grimsson has been advised not to return to work for a a few days.A stock market boom in the mid-1990s supported the rapid growth of Iceland's banking sector, which came to dwarf the rest of the economy and provided financing for deals that ranged across Europe and conquered swaths of the British economy, from fashion retailers to top soccer teams..The strategy gave Iceland one of the world's highest per-capita incomes, but when liquidity markets dried up around the world, the banks struggled to refinance those heavy debts.Now Icelanders are watching helplessly as their economy implodes, causing ripples throughout Europe, where tens of thousands of people have accounts with subsidiaries of the Icelandic banks..

The OMX Nordic Exchange Iceland said that equity trading would remain halted until Monday because of unusual market conditions.The government's decision to take control of Kaupthing, the country's leading bank, which has assets and debts across the continent, means that the Financial Services Authority now has control of all three of the country's major banks. The other two, Landsbanki and Glitnir, are in receivership.The authority said the action was necessary to ensure the continued orderly operation of domestic banking and the safety of domestic deposits.It also used emergency powers, rushed in by parliament earlier this week, to hive off most of the domestic assets of Landsbanki into a separate entity to be called New Landsbanki that is fully owned by the government.The decision means that the new bank takes over all the bank's deposits in Iceland, and also the bulk of the banks assets that relate to its Icelandic operations, such as loans and other claims, it said in a statement.The decision ensures continued banking operations for Icelandic families and businesses, it added.In an attempt to curb any panic, the regulator stressed that both Kaupthing and Landsbanki were open for business as usual on Thursday and that all domestic deposits of the bank were guaranteed under Icelandic law. However, the move leaves the international operations of Landsbanki, which have already caused a diplomatic spat with Britain, open to question.British Prime Minister Gordon Brown has threatened to sue Iceland to recover the lost deposits of some 300,000 Britons who hold accounts with IceSave, the online arm of Landsbanki.

With local governments also holding accounts worth tens of millions of pounds (dollars) in Icelandic banks, the British government has also used powers under terrorism laws to freeze Landsbanki's assets until the status of the deposits is resolved.Savings bank ING Direct UK has agreed to buy more than 3 billion pounds (US$5.3 billion) of deposits held by around 180,000 British savers with Kaupthing Edge and Heritable Bank, which is owned by Landsbanki.Haarde said on Wednesday that discussions between the two countries had begun between the two countries to find a mutually satisfactory solution.Iceland's three major banks are being blamed for the financial catastrophe facing the country. A stock market boom in the mid-1990s supported the rapid growth of the country's banking sector, which now dwarfs the rest of the economy with assets at nine times annual gross domestic product of US$19 billion. The newly wealthy banking sector provided financing for a number of business deals across Europe. Kaupthing alone racked up debts of more than US$5.25 billion in five years to help fund British deals. When liquidity markets dried up around the world, they struggled to refinance those heavy debts. Haarde said on Wednesday that the banking sector had become too big as he acknowledged that it will take the tiny Nordic nation of just 320,000 people several years to recover from the current crisis. Glitnir, the country's third largest bank, said on Thursday that it had received liquidity support from the Norwegian Banks' Guarantee Fund of 5 billion Norwegian crowns (US$820,000) for its Norwegian unit. It added that the sale of the unit had begun. Glitnir's move into receivership on Wednesday was a sign that troubles at the bank were larger than the government thought when it announced less than two weeks ago that it would nationalize the bank — the switch into receivership gives Glitnir temporary protection from its debt obligations. In urgent moves to downsize the overgrown banking sector, the Financial Services Authority immediately began to restructure the bank, saying it would sell its Finnish and Swedish businesses. Similarly, Iceland's central bank had already loaned euro500 million (US$680 million) to Kaupthing earlier this week while the Swedish central bank had provided a loan of up to 5 billion crowns ($702 million). Those measures proved not to be enough in a rapidly deteriorating situation.

Traders look for direction on oil market By GEORGE JAHN, Associated Press Writer OCT 9,08

VIENNA, Austria - Oil prices looked for direction Thursday as traders weighed fears that a looming world recession will crimp demand against speculation that OPEC may cut output to keep prices from falling too far. Venezuelan President Hugo Chavez said Wednesday that some members of the Organization of Petroleum Exporting Countries want an extraordinary meeting before the group's Dec. 17 meeting in Algeria.OPEC's decision last month to cut production by 520,000 barrels a day failed to halt oil's slide.I think OPEC will definitely start to talk the market up, said Gerard Rigby, an energy analyst with Fuel First Consulting in Sydney. They'll try to keep their members to their quotas. Then if prices fall below $80, they may cut production.Light, sweet crude for November delivery was up by 10 cents at $89.05 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract overnight fell $1.11 to settle at $88.95.The U.S. Federal Reserve, along with central banks in Europe and China cut interest rates Wednesday in a bid to jump-start lending. But markets in the U.S. and Europe sank in response Wednesday. The Dow Jones industrial average lost another 2 percent, and the index has shed more than a third of its value since its all-time high set one year ago Thursday. European stocks rose on Thursday.

Traders are expecting the world to move toward recession, with the U.S. and Europe especially a concern, said Rigby. Based on the short-term trend, you could see prices approaching $80 next week.Weighing on prices was evidence of falling demand in the U.S, where crude inventories jumped by 8.1 million barrels last week while gasoline stocks surged 7.2 million barrels, the Energy Information Administration said Wednesday in its weekly inventory report.Both increases far exceeded expectations, reflecting both persistently weak demand and a recovery of Gulf Coast energy output following shutdowns prompted by Hurricane Ike last month.Overall demand for oil fell for a fifth straight week and year-on-year demand fell for a 24th straight week this year, noted trader and analyst Stephen Schork in his Schork Report. In fact last week demand ... fell to the lowest level since the week following the 9/11/2001 attacks.Demand for gasoline was also weaker, falling 5.3 percentage points over the four weeks ended Oct. 3 compared to the same period a year earlier, according to the EIA report.Crude has fallen about 40 percent since surging to an all-time record $147.27 a barrel on July 11.The bubble has burst, Rigby said. Before any real increase in prices, we need to see some good economic data from around the world, and that could be a few months.In other Nymex trading, heating oil futures were down by more than 2 pennies at $2.47 a gallon while gasoline rose by more than a cent to $2.04 a gallon. Natural gas for November delivery rose more than 3 cents to $6.77 per 1,000 cubic feet.In London, November Brent crude was up 13 cents to $84.49 a barrel on the ICE Futures exchange.
Associated Press writer Alex Kennedy contributed to this report from Singapore.

Russian stock market trading halted OCT 8,08

Russia's main stock exchange announced it was to halt trading until Friday after opening with steep losses on Wednesday.The MICEX index dropped more than 14% in the first half-hour of trading on Wednesday morning.The RTS exchange, whose index is widely considered the benchmark of Russia's markets, fell more than 11% in the first 30 minutes and suspended trading for one hour.The exchanges suffered their worst-ever one-day losses on Monday and ended on Tuesday with minor losses, in a tepid response to President Dmitry Medvedev's announcement of new measures to improve liquidity in the banking system.

ETFs Trade Through Russian Exchange Closures Written by Paul Amery
Thursday, 09 October 2008 09:12

The Russian stock exchanges, RTS and Micex, have repeatedly been closed over the last two months as the value of equities has fallen sharply. Wednesday's suspension of trading was the tenth such closure since early September. Trading was originally scheduled to resume on Friday 10 October, but in fact reopening today, 9 October.

Since September 30 2008 the Russian regulator, the Federal Service for Financial Markets (FSFM), has enforced a policy under which trading will be suspended on the Russian exchanges for no less than one hour if an index indicator deviates during the day by more than 5% in comparison to its opening value, or by more than 10% in comparison to its closing value of the previous trading day. At its closing level of 761.63 on 8 October, the RTS dollar index had declined by almost 70% from its all-time high of 2487.92, reached in May. So far in today's trading, the index has rebounded by around 10%. While trading in European Russia-focused ETFs has been affected by these repeated market closures, the suspensions of activity on the Russian exchanges have not automatically led to trading halts in the ETFs. This is because a number of leading Russian shares trade in ADR or GDR form on foreign exchanges. However both Manooj Mistry of db x-trackers and Claus Hein of Lyxor, the leading European managers of Russian equity ETFs, confirmed to IndexUniverse.com that some widening of bid-offer spreads would be inevitable during such periods of closure. In the U.S., the Market Vectors - Russia ETF (AMEX: RSX) has continued to trade as well without stoppage, as have the various BRIC (Brazil, Russia, India and China) ETFs. Of course, the Russia market is typically closed during U.S. trading hours, anyway; U.S. ETF shareholders trade based on estimates of where the markets are going, acting as an overnight price discovery mechanism for Russian shares.

Emerging market investors had been heavily overweight in Russia early in the year, with the February Merrill Lynch investor survey showing a net 73% of investors overweight in the country, and Russia topping the list of preferred emerging markets.

Russian markets climb sharply OCT 9,08

MOSCOW - Russia's battered stock markets surged after reopening Thursday, recouping some of the losses suffered early in the week when they suffered their biggest-ever one-day falls. The move higher was so steep that one exchange suspended trading twice during the day in conformance with Russian regulations requiring trading to halt temporarily if the composite index of all stocks on an exchange rises or falls by more than 5 percent.The index of selected leading stocks on the MICEX exchange, where most of Russia's trading takes place, was up 11.6 percent at 3:30 p.m. (1130 GMT) after two suspensions of up to an hour. The RTS exchange's index of leading stocks, which is widely seen as the market's economic benchmark, was up nearly 11 percent.The climb came after an ominous week in which both exchanges recorded their biggest one-day drops ever. Thursday's rise appeared to be largely in response to central banks worldwide moving to cut interest rates.This is more likely to be the beginning of the end of the crisis than the end itself, said Ovanes Oganisian, deputy head of equity research at Renaissance Capital. Steps will definitely be taken to make the financial sector more transparent and with more information on bad assets. This would restore confidence among the market players and would probably open the final stage of the crisis.Oil and gas blue chips led the growth as oil majors Lukoil and Rosneft climbed 27.1 and 21.8 percent, respectively. Natural gas company Gazprom went up 19.3 percent.Maxim Osadchiy, chief analyst at Moscow-based Antanta Pioglobal investment bank, said today's growth testifies to the market's high volatility. Markets are reacting differently to the same news, he said. There's no other word than chaos for what is happening now.Russia's once-booming stock market has suffered huge losses in recent months, with the RTS index dropping more than two-thirds since May. The market is plagued not only by reverberations from the global financial chaos, but by low prices for oil — which is the backbone of Russia's economy — and concerns in the wake of Russia's war with Georgia in August.

DANIEL 7:23-24
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).

EU too divided to solve frozen conflicts, Azerbaijan says
VALENTINA POP Today OCT 9,08 @ 09:25 CET

EUOBSERVER / BRUSSELS - Oil and gas-rich rich Azerbaijan, home of another frozen conflict with its neighbouring Russian ally Armenia, does not consider the EU as a feasible peace broker in the region, Azeri deputy foreign minister Araz Azimov has said.The European Union is a powerful economic and political union of states, but in terms of acting in a united way, the EU is not there yet, especially in an environment that changes rapidly. The EU it is not able to act in an instrumental way, Mr Azimov said on his expectations of possible EU involvement in finding a solution for the frozen conflict in Nagorno-Karabakh. The senior official made the comment at a conference organized in Brussels by the European Policy Center on Wednesday (8 October).The conflict between Azerbaijan and Armenia, which still occupies the Azeri region of Nagorno-Karabakh, is currently mediated by the so-called Minsk group, created by the Organization for Security and Co-operation in Europe (OSCE) in 1992 and headed by France, Russia and the United States. Other members of the Minsk group include Belarus, Germany, Italy, Portugal, the Netherlands, Sweden, Finland, Turkey as well as Armenia and Azerbaijan themselves.

In the Minsk group there is a majority of EU countries and we do take their position into account. We need the EU's influence as an international actor, but we don't think the EU is a feasible partner in the Minsk group, Mr Azimov explained.The EU's special representative to Georgia, Azerbaijan and Armenia, Peter Semneby, confirmed that the bloc remains supportive of the work of the Minsk group but didn't see as probable any change in terms of the EU joining the body as a full participant in its own right.He dismissed the idea that the EU was unable to respond forcefully and united to crisis situations however, considering that in the recent war in Georgia it proved very much able to show political will in brokering a ceasefire agreement and in quickly deploying an observer mission on the ground.Mr Semneby noted that it is the first European Security and Defence Policy (ESDP) mission deployed on former Soviet union territory, designed to stabilize the situation after an acute war.

EU role unclear

The status of the EUobservers remains unclear if Russians are to pull back by 10 October from the security zones and not granting them access into the two separatist enclaves, Azerbaijan's Mr Azimov countered.I think Russians will withdraw from the buffer zones, because they have no interest to stay. The six points [of the ceasefire agreement] will be implemented more or less, but then what will happen with South Ossetia and Abkhazia? he asked.The main lesson of 08/08 [the day Russia sent troops into Georgia, following the attempt by the Georgian military to take over control of South Ossetia] is that the stability of the region is put under a big question mark, while separatist movements are being further promoted, the Azeri diplomat said, adding that it will be important what happens in Geneva on 15 October, when diplomatic talks are scheduled on the status of the two Georgian breakaway regions, whose independence has been only recognized by Russia and Nicaragua.Mr Azimov spoke of the need for the EU to reconfigure its approach to Azerbaijan and start implementing the existing mechanisms from a 2006 energy partnership, not just talk about how important his country is for the bloc's energy security.Azerbaijan is not aiming, like Ukraine or Georgia, to become a member of the EU, but could very well imagine common areas for trade, economy, transport, he explained, as far as is procedurally possible without entering the membership discussion.

West loses influence in Caucasus

While the Azeri minister talked about his country's ability to balance between its close ally US, but also Russia and Iran, emphasising stability and political responsibility, Mustafa Aydın from the University of Ankara bluntly said that the region has dropped the whole idea of democratisation and Euro-Atlantic integration following the Russian invasion of Georgia.There is no talk of democratisation in the Caucasus any more. If authoritarianism worked in Russia, why not in the Caucasus as well? All the countries, including Turkey, have adopted a careful rhetoric towards Moscow, with 'stabilisation' being the key-word, Mr Aydin said.Vladimir Socor from the NGO the Jamestown Foundation and a long time expert on the region said the EU is by far not matching Russia in soft power in Azerbaijan and the wider region.The conflict in Georgia damaged the confidence of investors in the Caucasus energy corridor - the only direct link the EU has with the oil and gas-rich Caspian countries without passing through Russia - he explained.He talked of the need for the EU and US to subsidise pipelines such as the planned Nabucco gas pipeline, which would bring Caspian gas to the European markets.

Nabucco sweetener criticised

Mr Socor criticised the incipient idea in the outgoing Bush administration to re-route Nabucco through Armenia instead of Georgia as a sweetener for getting an agreement on Nagorno-Karabakh.Mr Azimov reassured the audience that such plans are not realistic, since a part of the project passing through Azerbaijan and Georgia to Turkey is already built.He stressed that the government in Baku still supports the project, but it shouldn't be the only one caring about Nabucco, calling on the EU to step up efforts to build the pipe.

EU-Russia treaty talks risk long delay
PHILIPPA RUNNER Today OCT 9,08 @ 09:18 CET

EUOBSERVER / BRUSSELS - Negotiations on a new EU-Russia treaty could be held up despite Russia's pull-back from Georgia buffer zones on Wednesday (8 October), with Lithuania pushing for Russian troop scale-back in South Ossetia and Abkhazia also before talks restart.[Lithuania] wants the EU to respect the agreements created by Sarkozy, an EU diplomat told EUobserver. It is hoping for the company of other new EU member states, the Nordic countries and London.Russian soldiers on Wednesday left two seven-kilometre-wide strips of land surrounding the Georgia breakaway regions of South Ossetia and Abkhazia, in compliance with a peace deal between Russia and Georgia brokered by French President Nicolas Sarkozy on 8 September. But Lithuania wants Russia to also respect the earlier Moscow-Tbilisi-Paris peace accord of 12 August, under which Russian armed forces will be pulled back to the line preceding the start of hostilities.Russia kept around 2,500 soldiers in South Ossetia and Abkhazia prior to the conflict. But it has since pledged to station 7,600 troops in the two territories for an indefinite period of time and recognised the rebel enclaves as independent states.The prospect of restarting negotiations on a new EU-Russia partnership agreement will come up for debate at an EU foreign ministers meeting on 13 October and the EU summit two days later.EU leaders froze the partnership talks on 1 September in a mini-sanction against Russia's invasion of Georgia. The EU is also awaiting a comprehensive audit of EU-Russia relations ahead of an EU-Russia summit in November.But Lithuania's hard line on fulfilling the 12 August peace accord runs counter to expectations in Paris and Moscow.French Prime Minister Francois Fillon and Russian ambassador to the EU Vladimir Chizhov in recent weeks both said they think EU-Russia negotiations will resume in October, without making reference to troop levels inside the rebel-held zones.

President Sarkozy speaking at a think-tank event in Evian, France, on Wednesday welcomed the Russian buffer zone withdrawal, saying President Medvedev had kept his word.The French leader also implied that the partial Russian pull-back constitutes full compliance with EU demands. The full implementation of the accords of August 12 and September 8 ... paves the way for the resumption of negotiations on an ambitious framework agreement, both in terms of the scope and intensity of co-operation, he said, AFP reports.

WW3 THE 3 WAVES THAT MARCH TO ISRAEL

DANIEL 11:40-45
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.
44 But tidings out of the east(CHINA 2ND WAVE OF WW3) 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)
45 And he shall plant the tabernacles of his palace between the seas in the glorious holy mountain; yet he shall come to his end, and none shall help him.

REVELATION 14:18-20
18 And another angel came out from the altar, which had power over fire; and cried with a loud cry to him that had the sharp sickle, saying, Thrust in thy sharp sickle, and gather the clusters of the vine of the earth; for her grapes are fully ripe.
19 And the angel thrust in his sickle into the earth, and gathered the vine of the earth, and cast it into the great winepress of the wrath of God.
20 And the winepress was trodden without the city,(JERUSALEM) and blood came out of the winepress, even unto the horse bridles, by the space of a thousand and six hundred furlongs.(200 MILES) (THE SIZE OF ISRAEL)

The Third and Final Wave of WW3 is when all Nations march to Jerusalem, but JESUS bodily returns to earth and destroys them,sets up his KINGDOM OF RULE FOR 1000 YEARS THEN FOREVER.

2ND WAVE CHINA AND KINGS OF THE EAST MARCH TO ISRAEL

REVELATION 16:12
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)

REVELATION 9:12-18
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)

N. Korea announces it is ending its nuclear freeze By GEORGE JAHN, Associated Press Writer OCT 9,08

VIENNA, Austria - North Korea has told the International Atomic Energy Agency that it is placing all its main nuclear complex off-limits to inspectors and will stop its program of dismantling the site. The IAEA made the development public in an announcement Thursday.A senior diplomat familiar with North Korea's statement said it is the clearest indication so far that Pyongyang plans to restart its atomic program, which includes facilities to produce plutonium that can be used in a bomb. The diplomat spoke on condition of anonymity because he was not authorized to comment on the matter.The North already barred agency personnel from its plutonium-reprocessing facility at Yongbyon last month.