STOCKS DOWN TODAY

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).

Bahrain FM calls for regional grouping of Arabs, Israel Wed Oct 1, 6:54 AM ET

DUBAI (AFP) - The foreign minister of staunch US ally Bahrain has called for the creation of a regional grouping of Arab states with historic foe Israel, as well as Iran and Turkey, a newspaper reported on Wednesday. Israel, Iran, Turkey and Arab states should sit together in one organisation, Sheikh Khaled bin Ahmad al-Khalifa was quoted in the pan-Arab daily Al-Hayat as saying.Aren't we all members of a global organisation called the United Nations? Why not (come together) on a regional basis? This is the only way to solve our problems. There's no other way to solve them, now or in 200 years.Al-Hayat, which interviewed the Bahraini chief diplomat in New York, said he had proposed the establishment of a regional bloc in a speech to the UN General Assembly.The tiny Gulf kingdom is a major ally of the United States and has a free trade agreement with Washington. It also hosts the US Navy's Fifth Fleet.Bahrain's crown prince, Sheikh Salman bin Hamad al-Khalifa, met Israeli officials during World Economic Forum summits in 2000 and 2003, while Sheikh Khaled met Israeli counterpart Tzipi Livni at the UN last year.But political groupings in Bahrain, which is ruled by a Sunni dynasty and has a Shiite majority, resist any attempt at normalisation of ties with Israel.Only two Arab countries -- Egypt and Jordan -- have full fledged peace treaties with Israel. Bahrain's Gulf neighbour Qatar, another close US ally, is one of a handful of Arab countries to maintain political contacts with the Jewish state.

Forging ties with Israel without a solution to the Palestinian-Israeli conflict is generally unpopular among ordinary Arabs.Why don't we sit together even if we disagree, even if we don't recognise each other? Let's be in a single organisation in order to overcome the difficult stage through which the Middle East is passing -- a stage that remains hostage to the past, Sheikh Khaled told Al-Hayat, referring to the decades-old Arab-Israeli conflict.Told that his proposal might be perceived by some as a dream since it was hard to see hardline Iranian President Mahmoud Ahmadinejad sitting alongside Israel, Sheikh Khaled, whose country occasionally has problems with Iran, said: If this is perceived as a dream, well, many dreams have become reality.

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

HALF HOUR DOW RESULTS WED OCT 01,2008

09:30 AM -49.14
10:00 AM -95.66
10:30 AM -158.34
11:00 AM -182.79
11:30 AM -138.98
12:00 PM -115.25
12:30 PM -75.98
01:00 PM -10.99
01:30 PM -56.63
02:00 PM -54.72
02:30 PM -37.67
03:00 PM -41.41
03:30 PM -43.80
04:00 PM -19.59 10831.07

S&P 500 1161.06 -5.30

NAS 2069.40 -22.48

GOLD 875.5 -5.30

OIL 98.63 -2.01

IT WAS REPORTED THAT FRANCE WAS PUTTING UP A 300 BILLION BAILOUT PLAN FOR EUROPE LIKE THE USA, BUT IT IS UNCONFIRMED YET.

AND ALSO WARREN BUFFETT CHAIRMAN OF BERKSHIRE HATHAWAY LAST WEEK BOUGHT INTO GOLDMAN SACHS FOR 5 BILLION AND TODAY BOUGHT INTO GENERAL ELECTRIC FOR 3 BILLION.

IT WOULD NOT SURPRISE ME TO SEE A NEW WORLD SYSTEM OF THE ECONOMY LEAD BY THE WORLD BANK AND LEAD BY THE EUROPEAN UNION. I FIGURE THE EUROPEAN UNION WILL SET UP A SYSTEM OF THE 6 CONTINENTAL WORLD ECONOMIC REGIONS PLUS THE VATICAN FOR CHURCHES.

SINCE THE BIBLE DOES SAY THE WEALTH OF THE SINNERS IS BUILT UP FOR THE CHRISTIANS. SO I BELIEVE THE VATICAN WILL BE INVOLVED IN THIS NEW GROUPING.

7 WORLD ECONOMIC HEADQUARTERS.

LEADER WORLD BANK AND THE EUROPEAN UNION (WORLD CONTROLLER)
NORTH AMERICA LEADER - USA FEDERAL RESERVE.
SOUTH AMERICA LEADER - BRAZIL
AFRICA LEADER - INDIA
ASIA LEADER - CHINA
MIDEAST LEADER - ISRAEL
EUROPE RELIGIOUS LEADER - VATICAN

THESE WOULD BE THE 7 LEADERS OF THE GROUP FROM AROUND THE WORLD. THERE COULD BE A WORLD STOCK MARKET WERE ALL NATIONS COULD DO BUSINESS. THESE 7 HEADS WOULD SEPARATELY HAVE THEIR REGIONS OF THE CONTINENT TO CONROL AND RUSSIA WOULD BE UNDER THE EUROPEAN UNION STOCK MARKET. THE USA WOULD CONTROL ALL OF NORTH AMERICA PLUS AUSTRALIA AND ICELAND. ONCE AGAIN JUST MY THOUGHT ABOUT HOW THE EU COULD CONTROL THE WORLD ECONOMY LIKE THE BIBLE SAYS WILL HAPPEN IN THE LAST DAYS.

10 WORLD REGIONAL HEADQUARTERS

THE CLUB OF ROME FOUNDER AURELIO PECCEI WANTS THE WORLD IN 10 REGIONAL TRADING BLOCKS.

HERES WHAT THE WORLD WOULD LOOK LIKE (SINCE THERE WILL BE WORLD GOVERNMENT IN THE FUTURE)

01 CANADA, U.S.A, MEXICO
02 EUROPEAN UNION,WESTERN EUROPE
03 JAPAN
04 AUSTRALIA,NEW ZEALAND, S AFRICA, ISRAEL AND PACIFIC ISLANDS
05 EASTERN EUROPE
06 SOUTHERN, CENTRAL AND LATIN AMERICAS
07 NORTH AFRICA, AND MIDEAST (MOSLEMS)
08 CENTRAL AFRICA
09 SOUTH AND SOUTHEAST ASIA
10 CENTRAL ASIA

Congress leaders optimistic on revived bailout By ANDREW TAYLOR, Associated Press Writer OCT 1,08

WASHINGTON - The Senate moved toward passage Wednesday of a $700 billion financial industry bailout as opposition to the package among House Republican conservatives appeared to be softening, thanks partly to a provision increasing insurance for people's deposits. Congressional leaders from both parties said they were hopeful that a new version of the rescue plan could be cleared late this week after its stunning defeat that sparked a historic sell-off on Monday. House Democratic leaders tentatively planned a Friday vote.One House Republican who joined two-thirds of GOP lawmakers Monday in voting no indicated he's reconsidering. Others were also pondering a switch, according to congressional officials who spoke on condition of anonymity because they haven't publicly committed to changing their votes.Rep. John Shadegg of Arizona, a leading conservative, told a Phoenix radio station Wednesday that he'd be inclined to vote for the bill if it raised the cap on federal deposit insurance and changed a rule that forces companies to devalue assets on their balance sheets to reflect the price they can get on the market.The revised package to be voted on in the Senate, which adds $100 billion in tax breaks for businesses and the middle class, temporarily increases the deposit insurance cap from the current $100,000 to $250,000. The Securities and Exchange Commission said Tuesday it was easing the accounting rules in some cases.In a statement Wednesday, Rep. John Boehner, R-Ohio, the minority leader, called both a victory for House Republicans.

Congressional leaders said the changes should improve the package's chances — a message they hoped wouldn't get lost on a convulsive Wall Street.Some also saw heightened odds for the measure based on a flood of e-mails, calls and letters from constituents chiding Congress for inaction on the financial crisis. The feedback indicated greater public acceptance of the measure — if not a collective embrace — by voters about five weeks before the elections.House Republican Whip Roy Blunt said calls and e-mails to congressional offices that were running about 90 percent against the measure earlier now are coming in about a 50-50 pace.Even a 50-50 proposition might have been attractive on Wall Street, where the Dow Jones industrials at times lost more than 200 points in their third triple-digit move this week. Credit markets remained extremely tight and stocks also fell on a report that an index of manufacturing activity fell significantly in September.President Bush planned to call lawmakers ahead of the crucial vote,Democratic presidential nominee Barack Obama and his GOP rival, John McCain, planned to fly to Washington for the Senate vote, as did Democratic vice presidential nominee Joe Biden, adding to the political intrigue, and the White House continued to lobby hard, both publicly and privately.At the daily briefing Wednesday, spokesman Tony Fratto took the unusual step of citing the New York Times, as well as papers across the country, that carried stories on the tightening credit squeeze on small businesses, municipal projects and jobs. It is affecting real Americans out there, he said.

The legislation essentially would allow the government to buy bad mortgages and other devalued assets held by troubled financial institutions. If successful, advocates of the plan believe, that would help lift a major weight off the already sputtering national economy.Officials in both parties predicted the measure would pass the Senate by a wide margin.Behind the scenes, the president was conferring with Treasury chief Henry Paulson and Fed chairman Ben Bernanke to get an update and to plot strategy. The presidential spokesman told reporters that Bush's calls so far have all been very positive. We feel that there's a sense of momentum.Fratto called the increased deposit insurance an important improvement to the bill, and also welcomed the added tax breaks, calling them helpful despite the White House's initial desire for a clean bill.Scrambling to revive a package that met with bitter derision among constituents who viewed it as a giveaway to Wall Street, the Senate added a number of sweeteners designed to please rural lawmakers, including disaster aid for hurricane-battered states and money for rural schools. The package was hitching a ride on a popular measure to require health plans for 51 or more employees to give equal treatment to mental health or addiction if they cover such illnesses. Hoyer said, however, he was concerned that the tax additions could complicate the chances of final congressional passage when the legislation comes back to the House floor for a vote. There are worries that fiscally conservative House Democrats known as Blue Dogs will be repulsed by the tax breaks, and could vote no because they have believe cuts should be bankrolled with spending cuts or other tax increases. The tax plan passed the Senate last week on a 93-2 vote. It included AMT relief, $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana, and some $78 billion in renewable energy incentives and extensions of expiring tax breaks. All told, it would cost about $112 billion over five years. In a compromise worked out with Republicans, the bill does not pay for the AMT and disaster provisions, but does have revenue offsets for part of the energy and extension measures. Associated Press reporters Terence Hunt and Jennifer Loven contributed to this story.

World leaders look to US for salvation as economies near abyss
Sep 30 08:18 AM US/Eastern

Stocks Fall Around The Globe

World leaders called on the US government to take action to stave off global financial collapse Tuesday after Congress rejected a 700 billion dollar bailout in a move which stunned global markets. Another European bank, Dexia, had to be rescued and shares went through another roller coaster ride after the House of Representatives voted 228-205 against the rescue on Monday. European leaders led the calls for action by President George W. Bush who called close advisors into emergency talks after the defeat and was to make a statement on Tuesday. The US must take its responsibilities in this situation, must show statesmanship for the sake of their own companies and for the sake of the world, European Commission spokesman Johannes Laitenberger said. German Chancellor Angela Merkel called for another vote on the plan this week to restore market confidence. British Prime Minister Gordon Brown said he had sent a message to the White House to underline the importance that we attach to taking decisive action. New Japanese premier Taro Aso said: We should not let the world financial system collapse.

Australian Prime Minister Kevin Rudd said that he and other US allies would press Washington to take action. US Treasury Secretary Henry Paulson warned US lawmakers they had to act fast after his plan was dramatically rejected Monday. Markets around the world are under stress, said Paulson, architect of the proposal to buy up the mountains of bad mortgage-related debt behind a wave of home foreclosures and spectacular bank failures. We need to get something done, he added. This is much too important to simply let fail.Central banks again poured money into markets an attempt to revive the global banking system but stocks rallied slightly in Europe after an initial slump following the lead set by Wall Street and Asian markets.

London shares dropped initially, but later showed a slight gain of 0.22 percent, Paris was up 0.21 percent but Frankfurt was down 0.75 percent after a 4.1-percent fall in Tokyo, and losses in Asia except in Hong Kong which gained 0.8 percent. The Dow Jones Industrial Average sank 777.68 points or 6.98 percent on Monday, in a record points fall amid panic after the House vote. Hiroichi Nishi, equities chief at Nikko Cordial Securities in Tokyo, said: The market is exploring where the bottom is now.French-Belgian bank Dexia was rescued by the French, Belgian and Luxembourg governments which put in 6.4 billion euros (9.2 billion dollars). Governments also had to step in to save Dutch-Belgian bank Fortis and Britain's Bradford & Bingley this week. French President Nicolas Sarkozy called a pre-dawn meeting of key advisors and after talks with top bankers promised measures before the end of the week. A senior official in his office said. Banks are in trouble in Germany, Belgium and Great Britain. We feel a bit surrounded.France and Ireland reassured people with deposits in banks that their money was safe, echoing similar statements across Europe. The euro fell again, to 1.4376 dollars in London from 1.4432 in New York because credit worries are deepening over the European financial system, said Saburo Matsumoto at Sumitomo Trust Bank. The euro may fall further, he said. We fear the credit worries may spread into emerging economies.A vacuum of fear is causing a desperate shortage of funds in the interbank system, despite infusions from central banks, and is a critical factor in pressures that have brought down many top names in US and European banking. Some analysts now suggest there could be concerted central bank action to cut interest rates because likely economic slowdown, even recession, arising from the crisis would sharply cut inflationary pressures. Central banks emergency cuts: if not now, when? asked Citi analysts in London. But some other analysts doubted that there would be a pan-European initiative. Around the world officials and commentators used the language of disaster and despair to describe the possible impact of further delay in US action on the world economy and especially the interbank lending system.

In London, a leading global financial centre along with New York, The Guardian newspaper said: This has become a crisis of confidence in the banking system as a whole, which is unprecedented in modern times.The Times wrote: The collapse of the plan threatens all of Main Street, in America and further afield.Central banks again pumped out huge sums to keep global banking liquid with the European Central Bank renewing one-day loans of 30 billion dollars (20.8 billion euros). It also allocated 190 billion euros under a regular arrangement which once again revealed great tension on short-term bank interest rates. The Japanese central bank injected 3.0 trillion yen (28.8 billion dollars). Former World bank chief economist and Nobel economics prizewinner Joseph Stiglitz, forecasting that the crisis would ensure that Democrat candidate Barack Obama would win the presidential election. We will have other dramatic failures of financial institutions. The American economy is headed into a long recession.

Brussels calls for EU-wide response to financial crisis
ELITSA VUCHEVA Today OCT 1,08 @ 17:43 CET

EUOBSERVER / BRUSSELS – Days ahead of a meeting of the European members of the G8 for talks on the current financial turmoil, European Commission President Jose Manuel Barroso urged European governments to increase their co-operation and to counter the crisis and called for international oversight of financial markets.The challenge Europe is currently facing is not only to inject liquidity into the markets, Mr Barroso told a news conference in Brussels on Wednesday (1 October). We also need to inject credibility into the markets – in terms of European and of global governance of the financial system, he said.And in order to restore confidence in the markets, a joint European action is particularly important, the commission president added.Specifically, the president called for a further strengthening of the supervision structures at the European level.Mr Barroso also wants to see a reform of the current accounting rules and reforms to ensure the consistency of deposit guarantee schemes across Europe. Echoing calls from many quarters complaining that those responsible for the crisis have profited from their errors, he also called for an increasing in the transparency of executive pay.

The European financial system can cope

Despite the challenges however, he said: Our system can cope, the European financial system has the ability to respond, Mr Barroso said, echoing a statement made earlier today by Jean-Claude Juncker, the chair of the group of EU countries using the euro.

The Europeans can have confidence in their banking system, Mr Juncker told French radio Europe 1 on Wednesday morning, adding that he did not believe any government would let a big European bank go bankrupt.Luxembourg's premier also called for a stronger pan-European response and for the EU to take the leadership in countering the financial crisis.The statements of both Mr Barroso and Mr Juncker come just days before they are to meet the European leaders of the G8 group of leading industrial nations – France, Germany, Italy and the UK – together with the president of the European Central Bank, Jean-Claude Trichet, later this week and on Saturday (4 October) as well.Besides conducting talks on the financial crisis and on possible solutions, the leaders are to use the meeting to prepare for a global international summit, which the French EU presidency is hoping to hold before the end of the year.

The topic is also expected to figure high on the agenda of the EU summit of heads of state and governments from 15-16 October in Brussels.

Stricter rules for European banks unveiled in wake of crisis
ELITSA VUCHEVA Today OCT 1,08 @ 17:43 CET

The European Commission presented plans for tougher bank capital rules on Wednesday (1 October), in order to reduce risk exposure as a way to make the financial system stronger in the wake of the ongoing banking crisis.Under the proposed measures, banks would be restricted in lending beyond a certain limit to one party, and colleges of supervisors' would be put in place for those banking groups that operate in several EU states.Additionally, sellers of hazardous loans would have to maintain some of the risk by holding on to at least five percent of an investment when they sell loans repackaged as securities.These new rules will fundamentally strengthen the regulatory framework for EU banks and the financial system, EU internal market commissioner Charlie McCreevy said when presenting the plans.

Mixed reactions

MEPs have given mixed reactions to the new rules, however, with the Liberal grouping in the European Parliament welcoming a timely commission proposal, while the conservatives have warned against excessive regulation.The commission is right to propose Europe-wide measures to address the genuine concerns of Europe's citizens with respect to their savings and mortgages. This week's proposals address two of the key planks of the current crisis as individual national authorities struggle to contain the fall-out, stated Graham Watson, leader of the Liberals and Democrats in the European Parliament.For his part, John Purvis, the UK Conservative vice-chair of the European Parliament's Economic and Monetary Affairs committee, said: The EU should be taking action to ensure [the] systemic failures are never allowed to happen again, but excessive and intrusive regulation will only damage the smooth working of the financial system.Five percent retention is being billed as a panacea, but it could also make securities less attractive, potentially pushing up the cost of credit further still, he added.The proposals unveiled by Mr McCreevy – which must yet be approved by EU member states – come ahead of related legislation on credit rating agencies, which the commissioner hopes to present no later than next month.

US must take responsibility for global crisis, Brussels says
LEIGH PHILLIPS 30.09.2008 @ 22:17 CET

EUOBSERVER / BRUSSELS - The European Commission has expressed impatience with Washington over the defeat of a $700 billion bailout for Wall Street, calling on the US to take responsibility for the crisis. Meanwhile, fears are growing that the money central banks are pumping into markets are not putting out the financial fire.

Calling the Monday vote by the US House of Representatives a disappointment, commission spokesperson Johannes Laitenberger in unusually strong language said on Tuesday (30 September) that the turmoil we are facing has originated in the United States. It has become a global problem.The US has a special responsibility in this situation [and] the commission expects the decision will go through soon. The US must take its responsibility [and] must show statesmanship for the sake of their own country and for the sake of the world.The commission expects the decision to go through soon despite the bill's initial failure, he added, contrasting Europe's response to the events. The last few hours have once again shown that European authorities are assuming their responsibilities. Europe is engaging and calling for international cooperation, Mr Laitenberger said, highlighting a call by the French EU presidency for an international conference on the crisis in autumn.With the crisis still unfolding, the Irish government on Tuesday decided to guarantee all deposits held in the country's banks along with all money borrowed by the banks for two years. Dublin made the €400 billion move following a massive decline in the shares of Irish banks Allied Irish, Anglo Irish Bank, Bank of Ireland, Irish Life and Permanent, Irish Nationwide Building Society and the Educational Building Society. In mainland Europe, the Belgian and French governments gave €6.4 billion of tax payers' money to rescue Belgo-French bank Dexia, the world's biggest lender to local governments.The European Commission ... is supporting [government action to rescue] Dexia and the decision of Irish government to guarantee deposits with Irish banks, the commission's Mr Laitenberger explained. This shows that public authorities in Europe can live up to the task of preserving financial stability and protecting savings where different EU countries are concerned.

Liquidity loans hoarded

The EU official also praised national central banks in Europe and the Frankfurt-based European Central Bank (ECB) for providing liquidity to struggling money markets, saying the ECB has done a superb job.Brussels' praise came despite concerns that some private banks were taking ECB money and re-depositing it with the ECB for safe-keeping, instead of lending it to other banks to get markets moving again.Banks have as of Monday parked €44 billion with the ECB deposit facility ECB spokesperson William Lelieveldt told EUobserver, citing the most up to date figures available. This figure was €1.4 billion one week ago on 23 September, climbing to €4.2 billion on 25 September and hitting €28 billion by 26 September.It is true that this is a relatively high amount, said Mr Lelieveldt. But this must be compared to the much larger sums provided to these banks by the ECB.Some economists say government action may be required to get banks to lend to each other once again. Banks are hoarding their money as there is no expectation that loaning money will be profitable and not loss-making, UK economist Barry Gills of Newcastle University said. Central banks have been injecting massive amounts of liquidity for months but the insolvency problem within banks is actually spreading.All this liquid is not putting out the fire, he said.We need a much higher level of co-ordinated action than at member state or even EU level. We need a global regulator. It's the logical outflow of the globalisation of finance - the globalisation of financial regulation, he added.The expert predicted that economies in eastern Europe, especially Ukraine and the Baltic states, will find it harder than old Europe to weather the storm, saying the International Monetary Fund may have to be called in to deliver stabilisation loans.

Casino capitalism

The Socialist group in the European Parliament meanwhile is demanding the urgent and profound reform of the worldwide financial system.This crisis confirms the excesses of casino capitalism, Socialist group leader Martin Schultz said, denouncing a savage capitalism that no longer invests in enterprise and the creation of jobs, but contents itself to let loose to make money with more money.The Green group questioned the European Commission's position on government bailouts of ailing banks. The commission seems to have suspended its normal operating procedure of responding to mergers and state aid and this may be okay given the scale of the emergency, but in the longer term what we need is a joined-up politics, British Green MEP Caroline Lucas told EUobserver. The solution to the financial crisis is the solution to the ecological crisis.Echoing US President Theodore Roosevelt's reaction to the Great Depression in the 1930s - his New Deal - Ms Lucas called for a stricter regulatory regime and concomitant investment in environmental protection providing jobs to prevent social fall-out from the crisis. We need a green New Deal - the re-regulation of the financial system and massive investment in green infrastructure, renewable energies, new technologies and so on that will deliver quality jobs to Europeans - the hiring of a carbon army, if you will - to ensure we don't have millions thrown into unemployment.

Hoyer, Blunt hopeful of progress on rescue bill By ANDREW TAYLOR, Associated Press Writer OCT 1,08

WASHINGTON - Two House leaders said Wednesday headway is being made toward getting the $700 billion financial industry rescue bill through Congress, thanks partly to a provision increasing insurance for people's deposits. President Bush planned to call lawmakers asking for their support ahead of a crucial Senate vote Wednesday night.

I think the Senate thinks it has the votes and I think it probably will pass, House Majority Leader Steny Hoyer, D-Md., said. House Republican Whip Roy Blunt of Missouri agreed that prospects for passage have improved, and he said he was particularly heartened by indications the legislation has become more appealing to constituents back home.The plan for Wednesday night's vote was set after leaders there agreed to add tax breaks for businesses and the middle class and increase deposit insurance in an attempt to revive the legislation rejected by the House. The White House tried to build support by warning of the conseqences of failure.This morning we're seeing increased evidence of the credit squeeze on small businesses and municipalities all across the country, so it's critically important that we approve legislation this week and limit further damage to our economy, White House spokesman Tony Fratto said.Democratic presidential nominee Barack Obama and his GOP rival, John McCain, planned to fly to Washington for the Senate vote, as did Democratic vice presidential nominee Joe Biden.The surprise move by Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., appeared likely to win a big vote in the Senate that would put pressure on the House to go along and send the measure to the White House.Hoyer, though, said on NBC's Today show he was concerned that the tax issues could complicate the chances of final congressional passage when the legislation comes back to the House floor for a vote.There's no doubt the tax package is very controversial, he said, adding that there's no doubt in my mind that the Senate added this because they thought that's the only way they could get it passed. He said he wasn't pleased the tax provisions were attached to the bill.There are concerns that moderate House Democrats known as Blue Dogs will be repulsed by the tax breaks, and could vote no because they have been saying they don't want to see the deficit run up even further.

Stocks headed for a lower open Wednesday, indicating more of this week's gyrations as investors prepare for next big vote in Washington.Blunt said one of the reasons he is more optimistic is that lawmakers are hearing less vocal opposition from their districts. He said that calls and e-mails to congressional offices that were running about 90 percent against the measure earlier now are at about 50-50.It should be before the House as quickly as it can, Blunt said on NBC. But we should not set any artificial time limit here. He said that is one of the factors that doomed the bill, which was defeated 228-205 Monday, sending Wall Street into a nosedive with the biggest sell-off since the post-9-11 trading period.Both Blunt and Hoyer said they thought the atmosphere on the Hill was more conducive to passage now, saying they believe an emerging consensus on raising the federal deposit insurance to $250,000 has helped significantly and that a House vote could come later this week.Blunt also said he believes there's a better chance of getting the legislation enacted in the wake of a move to ease Security and Exchange Commission accounting rules in a way that would give businesses more leeway in how they value their assets.Senate Banking Committee Chairman Christopher Dodd, D-Conn., emerged from a meeting Tuesday to tell told reporters, I'm told a number of people who voted no yesterday are having serious second thoughts about it.

Adding a set of popular business tax breaks and legislation to prevent more than 20 million middle-class taxpayers from feeling the bite of the alternative minimum tax promised to win House GOP votes for the plan even as it angered moderate Blue Dog Democrats concerned about the tax cuts adding to the deficit.House Speaker Nancy Pelosi, D-Calif., issued a statement that suggested she does not like the move but did not reveal her plans. The Senate will vote tomorrow night and the Congress will work its will, Pelosi said Tuesday. The expected support of both Obama and McCain, however, makes it difficult for Pelosi to ship the measure back to the Senate with a different set of vote-getting add-ons.The Senate legislation also will contain an increase in the government's $100,000 cap on insured bank deposits, part of a move by lawmakers, Bush and the two presidential candidates to try to reassure markets that the plan will pass this week. The House vote was a stinging setback to leaders of both parties. The administration's proposal, still the heart of the legislation under consideration, would allow the government to buy bad mortgages and other deficient assets held by troubled financial institutions. If successful, advocates of the plan believe, that would help lift a major weight off the already sputtering national economy. The tax plan passed the Senate last week on a 93-2 vote. It included AMT relief, $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana, and some $78 billion in renewable energy incentives and extensions of expiring tax breaks. All told, it would cost about $112 billion over five years. In a compromise worked out with Republicans, the bill does not pay for the AMT and disaster provisions, but does have revenue offsets for part of the energy and extension measures.

FAITH UNDER FIRE Pastors rally for chaplains' reinstatement,Demand jobs for those forced to resign for praying in Jesus name September 30, 2008 8:39 pm Eastern 2008 WorldNetDaily

Dozens of prominent Christian leaders in Virginia have written Gov. Timothy Kaine requesting a change in the state policy that bans in Jesus name from state police chaplains' prayers and seeking reinstatement for the six chaplains who had to resign over the issue.This could impact the national election, since Virginia is such a close race, said former Navy Chaplain Gordon Klingenschmitt, who was dismissed from the military over the same issue but later won a battle in Congress creating a freedom for other chaplains to pray as their conscience dictates.These 86 pastors pledged to mobilize their people to vote accordingly, so the courage of these six police chaplains who were forced to resign because they prayed in Jesus name' could turn America's head on November 4th, Klingenschmitt said.The pastors now are awaiting a response from the governor.Their letter states, By defending religious discrimination, you endorse anti-Christian persecution, and prohibit free speech, literally censoring the word Jesus as illegal speech by chaplains. Is this your intention? It has been your action.WND reported earlier when the issue was raised and Kaine endorsed the plan.

According to Bishop Council Nedd, chief of the group called In God We Trust USA, the ban was issued by state police Col. W. Steven Flaherty to chaplains just weeks ago. The dispute became public through the work of Charles W. Carrico Sr., a member of Virginia's House of Delegates who is a former trooper.In God We Trust will assist Delegate Carrico and oppose this policy with every means at our disposal, said Nedd. Our supporters in Virginia are absolutely furious that the Commonwealth's government would rather its state troopers go without chaplains than risk someone being offended by a Christian chaplain invoking the name of Jesus Christ.The group's report said there had been no complaints about any of the prayers by chaplains; it was simply a ban adopted to prevent any possible future lawsuits.The action, however, violates their First Amendment rights and prevents the chaplains from serving effectively, said House Majority Leader H. Morgan Griffith. These men had little choice but to resign.Flaherty reported he was acting on an appeals court ruling dealing with prayers at the Fredericksburg City council, and his rule allowed only nondenominational prayers at public events.He said those who object could opt out.This is not a forced situation, a spokeswoman for the state law enforcement agency said. We wouldn't put them in that position.But Klingenschmitt, whose battle with the military over his use of the phrase remains in court where he's seeking reinstatement, said he cannot believe we live in a society where government officials literally dictate the content of a chaplain's prayers and dare to punish or exclude chaplains who pray in Jesus name.State officials said they were worried about future lawsuits because of an appeals court opinion written by former Supreme Court Justice Sandra Day O'Connor, who said discriminating against anyone who prays in Jesus name among officials rotating responsibilities to open city meetings is fair and reasonable. Her reasoning left Klingenschmitt wondering how that conclusion had been reached.That dispute focused on Rev. Hashmel Turner, a resident of Fredericksburg, Va., and a member of the town council, who was a part of a rotation of council members who prayed at the council meetings. He ended his prayers in Jesus name.That phrase, however, offended a listener, who prompted the involvement of several activist groups that threatened a lawsuit if the elected Christian council member continued to be allowed to pray in Jesus name.The city then adopted a non-sectarian prayer requirement, imposing a ban on any reference to Jesus.O'Connor wrote: The restriction that prayers be nonsectarian in nature is designed to make the prayers accessible to people who come from a variety of backgrounds, not to exclude or disparage a particular faith.Klingenschmitt noted, Ironically, she admitted Turner was excluded from participating solely because of the Christian content of his prayer. The Fredericksburg government violated everybody's rights by establishing a nonsectarian religion, and requiring all prayers conform, or face punishment of exclusion.The pastors' letter notes that the opinion actually didn't universalize any ban on Jesus-prayers, rather it gave the government three options.

The options included a nonsectarian prayer policy, a rotating prayer policy or appointing chaplains to pray as their own faith dictates, the letter said.

MUSLIM NATIONS

EZEKIEL 38:1-12
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.

ISAIAH 17:1
1 The burden of Damascus. Behold, Damascus is taken away from being a city, and it shall be a ruinous heap.

PSALMS 83:3-7
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 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)

EZEKIEL 39:1-8
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.

JOEL 2:3,20,30-31
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.

Russia rehabilitates last tsar by David Vujanovic OCT 1,08

MOSCOW (AFP) - Russia's Supreme Court on Wednesday formally rehabilitated the country's last tsar, Nicholas II, declaring that he and his family were unlawfully killed by Soviet authorities. The ruling negates the Romanov's culpability in crimes the Bolsheviks used to justify the 1917 revolution and the slaying of the tsar and his royal family the following year.The presidium declared as groundless the repression of Tsar Nicholas II and his family and rehabilitated them, said Supreme Court spokesman Pavel Odintsov.The decision overturns a ruling by the same court in November 2007 that the killings did not qualify as political repression, but premeditated murder.It was welcomed by the Russian Orthodox Church and descendants of Nicholas II including Grand Duchess Maria Vladimirovna, who spearheaded the campaign to rehabilitate the imperial Romanov family.The grand duchess expressed her joy and satisfaction after the decision, her spokesman Alexander Zakatov told AFP, adding the decision proves the rule of law in Russia.Another branch of the Romanov's descendants also praised the ruling.The fact that the Russian state took responsibility for that murder is a step towards repentance ... and the rehabilitation of all innocent (Bolshevik) victims, said their spokesman Ivan Artsishevsky.

Other Romanovs have been rehabilitated as victims of Soviet political repression, but a similar measure was refused in February for the last tsar and his immediate family, whose remains are buried in Saint Petersburg.A spokesman for the Orthodox Church said the decision can only be welcomed, in a statement reported by Interfax news agency.It strengthens the rule of law, restores historical continuity and 1,000 years of state tradition, the spokesman Georgy Ryabykh was quoted as saying.Tsar Nicholas II, his German-born wife Alexandra and their five children were shot by Bolshevik police in the cellars of a house in the Urals city of Yekaterinburg, where they were being held prisoner, on July 17, 1918, eight months after the Russian revolution.The fate of the tsar and his family has been a political football in Russia since their remains were found in a forest near Yekaterinburg in the closing years of the Soviet Union in the early 1990s.They were canonised by the Russian Orthodox Church as martyrs in 2000 despite abundant evidence that bloody Nicholas, as the Bolsheviks branded him, had been a leading contributor to the misfortunes that befell the country.In late 2002, the duchess appealed to a Kremlin commission under President Vladimir Putin to rehabilitate and declare null and void the crimes of Romanovs.Putin's successor, Dmitry Medvedev, who became Russia's youngest leader since Nicholas II when inaugurated as president in May at the age of 42, is reported to be something of an admirer of the late tsar.The Russian authorities have played along with moves to rehabilitate the Romanovs perhaps, observers believe, because the memory of their execution serves to tarnish the reputation of the Communist party, still the leading opposition group in Russian politics.The anniversary of the tsar's execution has become the occasion for religious processions throughout Russia. This year on July 17, hundreds of monarchists turned out in Moscow to commemorate the 90th anniversary of the slaying of Nicholas II and his family.

EU cease-fire monitors begin patrols in Georgia By MATT SIEGEL, Associated Press Writer OCT 1,08

KARALETI, Georgia - European Union monitors began patrolling Georgian territory Wednesday and Russian troops allowed some of them into a buffer zone around the breakaway region of South Ossetia despite earlier warnings from Moscow they would be blocked. Russian peacekeepers had said Tuesday that none of the 300 observers would be immediately permitted to be in the buffer zone, raising concerns that Moscow was stalling on withdrawing its troops from Georgia as it promised to do after its war with Georgia in August.But EU monitors were quickly allowed to pass through Russian checkpoints Wednesday near two Georgian villages on the perimeter of Moscow's so-called security zone.The situation is very calm, said Ivan Kukushkin, a smiling Russian officer in charge of the checkpoint near Kvenatkotsa.EU foreign policy chief Javier Solana's spokeswoman confirmed the deployment of the monitors was going smoothly and that they have been able to go wherever they planned to go.Russia and Georgia agreed to the EU observer mission as part of an updated cease-fire plan following the war, which ended with Russian and separatist forces in control of the breakaway regions of South Ossetia and Abkhazia. The Russians also dug in on other territory in Georgia.Terrified residents in the village of Karaleti, which was devastated by weeks of looting by South Ossetian militia, said EU monitors had come too late. Vitaly Shavishishvili, 24, and his relatives are now living in a cowshed after looters burned down their two-story house and stole two of their vehicles.

We only count on ourselves, Shavishishvili said.Zaira Mamagulashvili, 62, said that the looters burned more than 30 houses in the village and looted the local store and then blew it up with hand grenades.No one is in control. We are afraid of everyone, said Misha Sukhitashvili, another Karaleti resident. A Russian soldier is the kind of guy who after he has a drink is capable of anything.As part of the French-brokered cease-fire deal, Moscow agreed to withdraw its forces completely from areas outside of South Ossetia and Abkhazia within 10 days of the EU monitors' deployment —including from a roughly 4-mile buffer zone they have created southward from South Ossetia.The Russians gave us plans for dismantling their (check)points but didn't say when, EU mission director Hansjoerg Haber told reporters.At the Russian checkpoint near the Georgian village of Kvenatkotsa, an armored personnel carrier was parked up the hill near camouflaged tents and there was no sign of any preparations for a Russian troop pullback.Russia still plans to keep around 7,600 troops in South Ossetia and Abkhazia, and has refused to allow EU monitors inside the regions themselves.Show the flag, be friendly, show confidence, Haber told monitors in Basaleti, about 12 miles north of the Georgian capital, Tbilisi.

The EU observers will be based in four semi-permanent locations, including the central city of Gori near South Ossetia and the Black Sea port of Poti, key targets of Russian forces.Solana, who visited Georgia on Tuesday, expressed optimism that Moscow would pull its troops back in the promised time frame.The war began Aug. 7 when Georgian troops launched an offensive to regain control of South Ossetia. Russia sent troops, which quickly routed the Georgian military and pushed deep into Georgia. Russia's continued occupation of Georgian territory and its subsequent recognition of the independence of Abkhazia and South Ossetia has drawn strong condemnation from the West, which urged Moscow to respect Georgia's sovereignty.

Russian President Dmitry Medvedev insisted Wednesday that the military action was necessary to repel the Georgian aggression and protect Russian citizens and peacekeepers in the region. We have done a right thing, Medvedev said in the Kremlin after giving medals to soldiers who fought in the war. We have shown that Russia can protect its citizens, that all other nations must reckon with it.Associated Press writers Mansur Mirovalev and Misha Dzhindzhikhashvili in Bazaleti and Odisi, Georgia, contributed to this report.