OBAMA IS NOT FOR ISRAEL

AIG FUNDS WENT TO EUROPEAN UNION BANKS.

AIG names recipients of its bailout moneyStory Highlights,European banks Societe Generale, Deutsche Bank were top two beneficiaries,They received amounts of $4.1 billion and $2.6 billion, respectively,Wall Street firms Goldman Sachs and Merrill Lynch round out the top four,Congress wanted to know which banks got chunks of firm's billions in bailout funds MAR 16,09

CNN) -- Troubled insurance giant AIG, already under fire for intending to pay out $165 million in bonuses and compensation, succumbed Sunday to congressional pressure, identifying banks that received chunks of the company's billions in federal bailout funds last year.AIG says it recognizes the importance of upholding a high degree of transparency relating to bailout money.AIG, a recipient of at least $170 billion in federal bailout money , got an $85 billion loan from the Federal Reserve.The list released Sunday of counterparties that benefited from the bailout is topped by European banks Societe Generale and Deutsche Bank, which received $4.1 billion and $2.6 billion, respectively.Wall Street firms Goldman Sachs and Merrill Lynch round out the top four, receiving $2.5 billion and $1.8 billion, respectively.In releasing the list, AIG said it recognizes the importance of upholding a high degree of transparency with respect to the use of public funds,in a statement.Lawmakers have been pushing for AIG to release a list of its counterparties since last fall, arguing taxpayers have a right to know how federal aid is being used.Earlier this month, in reference to lawmakers request for a list of AIG's counterparties, U.S. Rep. Carolyn Maloney, D-New York, told CNNMoney it was critical to determine whether AIG's collapse would have resulted in a market catastrophe. We were told AIG posed systemic risk to our economy,she said.How do we know if that's true if we don't know where the money went?

AIG Payouts
Below are the top 10 largest payouts, according to a report released Sunday by AIG.

Societe Generale: $4.1 billion
Deutsche Bank: $2.6 billion
Goldman Sachs: $2.5 billion
Merrill Lynch: $1.8 billion
Calyon: $1.1 billion
Barclays: $0.9 billion
UBS: $0.8 billion
DZ Bank: $0.7 billion
Wachovia: $0.7 billion
Rabobank: $0.5 billion
Officials from the Federal Reserve and AIG have resisted disclosing the identity of the banks, citing concerns about competition and confidence in the market.Responding to questioning about AIG on March 5, Fed Vice Chairman Donald Kohn told the Senate Banking Committee that revealing the names of the banks would prevent financial institutions from doing business with AIG and other recipients of federal bailout money.They would draw back from doing business with those folks,Kohn said.Kohn's comments drew scrutiny from the committee, namely chairman Sen. Chris Dodd, D-Connecticut, who replied, Right now the public is deeply, deeply troubled by all of this. And it's their money that is being fed into these operations, and they, frankly, don't understand -- nor do we -- the legal arguments you're giving, but at a time we need to engender public trust and confidence in these very difficult steps, that kind of an answer undermines that effort very significantly.AIG, in its statement Sunday, said it consulted with the Fed about the benefit to the public of disclosing the counterparties, and whether doing so would cause competitive harm. The company also faced criticism over the weekend from White House officials and some congressional lawmakers who reacted strongly to news that AIG had intended to pay out $165 million in bonuses and compensation.

Commentary: Why is Fed keeping AIG's secrets?
Under pressure from the Treasury, AIG scaled back those plans and pledged to reduce 2009 bonuses -- or retention payments -- by at least 30 percent. That did little to temper outrage at the initial plan, however.In a letter Sunday to Treasury Secretary Tim Geithner, U.S. Sen. Russ Feingold urged the Obama administration to explore legal options to prevent the millions in AIG payouts.I write to ask why any bonuses would be legally required, given the company's abysmal performance,said Feingold, D-Wisconsin. iReport.com: AIG, You failed.Also Sunday, CBS' 60 Minutes aired an interview with Federal Reserve Chairman Ben Bernanke, who said the AIG bailout rankled him.Of all the events and all of the things we've done in the last 18 months, the single one that makes me the angriest, that gives me the most angst, is the intervention with AIG, Bernanke said.AIG lost a record $62 billion dollars in the fourth quarter of 2008. It has more than 74 million insurance policies issued in 130 countries around the world.

Jury's out on future of Europe, EU doyen says ANDREW RETTMAN
Today MAR 16,09 @ 09:01 CET

EUOBSERVER / BRUSSELS - The financial crisis is likely to create fundamental changes in the EU. But the bloc is still at an early stage of formulating its response, Belgian industrialist and former EU commissioner Etienne Davignon told EUobserver. It's clear that the world will not be the same after September 2008, he said in an interview on 12 March, referring to events last year such as the fall of Lehman Brothers bank in the US, which first put in the public eye what has since become the global economic crisis.How does Europe adjust to that change is the question. There is no objective reason to say that we will fail. There is not yet a clear indication that we will succeed in that test, so the jury's out.The 77-year old Mr Davignon is vice-chairman of Belgian energy firm Suez-Tractebel and president of Brussels-based NGO Friends of Europe. In the 1960s he worked under EU 'founding father' Paul-Henri Spaak in the Belgian foreign ministry and in the 1980s was EU commissioner for industry.Six months into the crisis, EU governments are at the stage of studying technical measures such as greater bank regulation and galvanising political will for future change, Mr Davignon said. But it will take another 18 to 24 months before the full effects of the crunch become clear. In the current grey period, Mr Davignon expects the 19 March EU summit and the 2 April G20 meeting in London to generate goodwill for co-ordinated action, but not to come out with detailed agendas. These two meetings are going to be important because of what [the media] will say - is it a lot of jaw-jaw and everything will get worse? Or maybe it's the beginning of a realisation that the world will no longer be the same and we are going to do something about it.

A meeting in June in Europe of the Bilderberg Group - an informal club of leading politicians, businessmen and thinkers chaired by Mr Davignon - could also improve understanding on future action, in the same way it helped create the euro in the 1990s, he said.When we were having debates on the euro, people [at Bilderberg events] could explain why it was worth taking risks and the others, for whom the formal policy was not to believe in it, were not obliged not to listen and had to stand up and come up with real arguments.

Future horizons

Mr Davignon spoke in favour of international bank regulation and dismissed fears that the potential creation of eurobonds - a government bond guaranteed by all 16 eurozone countries - would increase the cost of borrowing for the other nine EU members. National regulation of the financial sector has been a disaster. Ireland is a case. Iceland is a case,he said. The fact that you are making the euro countries healthier [via eurobonds] is an element that makes the situation of the less healthy less difficult to solve.The European Commission should relax rules on state aid and public deficits so long as it creates a clear new playbook for all EU states to follow, the Belgian businessman added. But it should not tolerate curbs on the single market as posited by French leader Nicolas Sarkozy, who in February urged French car firms not to move to the Czech Republic. That is totally unacceptable ...Yesterday, a French car producer was a French car producer. A German car producer was a German producer. Fiat was an Italian producer. Now they have a French origin, a German origin, an Italian origin. But they are European producers and we told them to be like this.Mr Davignon predicted that deeper EU integration as envisaged in the Lisbon treaty will continue due to a majority movement that is irresistible over a period of time, even if an individual member state opts out.A second negative referendum in Ireland on Lisbon would put on the agenda the notion that if somebody says No, why do we have to care about them? he said.

Godless and confused

The Belgian aristocrat warned that rising anti-establishment feeling in Europe will complicate attempts to implement new policy. But he indicated that the phenomenon has deeper roots than the financial crisis. People understand confusedly that there is a change [in the air], he said.But no government will satisfy the reactions of the people. They have the greatest reticence and cynicism against anybody who holds responsibility.Against the business community because of the financial excesses. Also, the church has disappeared. The popular reaction is also a consequence of the fact that a number of traditional references have disappeared. People are looking for what is the reference.

Outside interference' in Lisbon treaty campaign, Irish minister says
HONOR MAHONY 13.03.2009 @ 23:02 CET

EUOBSERVER / BRUSSELS - Irish Europe minister Dick Roche has said there was serious external interference in the run-up to the country's referendum on the Lisbon Treaty.

The minister made the comment after Ireland's ethics watchdog published a report Friday (13 March) saying that Libertas, which last year led a successful campaign against the EU's Lisbon treaty, did not reveal enough information on its referendum campaign.The Standards in Public Office commission (SIPO) said that the head of Libertas, businessman Declan Ganley, did not provide details of a loan he made to the campaign.SIPO said that Libertas also failed to give it information on the books provided by the Foundation for European Democracy as well as details on employees of Mr Ganley's company Rivada.The report on third parties who took part in the referendum campaign noted that despite a number of written and telephone reminders to Libertas, it has failed to provide the required information.SIPO defines third parties as an individual ...or body of persons that accepts a donation exceeding €126.97 in value. It notes that three types of donations are barred: anonymous donations of more than €126.97; donations that exceed €6,348.69 by one person in one year and foreign donations.Ireland's referendum, which resulted in a firm rejection of the Lisbon Treaty, stalling its implementation in the EU, saw four third parties investigated by Sipo.Of these, only Libertas said it had received a loan for its campaign, with Mr Ganley informing SIPO that he gave a personal loan of €200,000 to help the anti-treaty campaign.

The commission said that it wrote to Mr Ganley on 22 August asking for legal details on the loan and how it would be repaid.In spite of subsequent correspondence with Mr Ganley and his legal representatives, the information requested by the Standards Commission has not been provided by Libertas at the time of writing this report, the report said.The report also notes that it received no reply on its question of whether Libertas received other loans and on its query about who was the group's responsible person - whose main job is to oversee political donations.

Not informed of deadline

Reacting to the report, Europe minister Dick Roche, who has a long-running feud with Mr Ganley, was quoted by the Irish Times as saying:It raises real issues regarding the extent of foreign interference channelled via Libertas into the referendum campaign. The report demonstrates the need for an immediate strengthening of the law.

It confirms questions raised by me and others about the role of US defence contractor Rivada Networks Ltd and its Irish office. It contains and confirms that there was serious external interference in Ireland's referendum campaign from Mr Ganley's eurosceptic contacts via the Libertas campaign.In the run-up to the June referendum last year, Ireland was awash with speculation that Libertas was being funded from US sources opposed to European integration.For its part, Libertas, which is in the process of establishing itself as a pan-European force ahead of the European elections, said it was not aware of a deadline for providing the information.Libertas remains willing to provide the information required by SIPO. The latest correspondence to Libertas from SIPO dates from February 19th 2009, and Libertas has not been informed of a deadline for publication of today's report. It has always been our intention to provide SIPO with all of the necessary information by March 31st, and that remains our intention.It also pointed out that the report does not change the fact that Ireland voted No to the Lisbon treaty and claimed that if the country had voted Yes,it would not have been subject to this scrutiny.

G20 finance ministers prepare for IMF reform
ANDREW WILLIS Today MAR 16,09 @ 09:01 CET

An agreement to increase funding for the International Monetary Fund and to speed up changes to member state representation in the multilateral lender were the few concrete decisions to come out of Saturday's (14 March) meeting of G20 finance ministers and bank governors in London. We agreed on the urgent need to increase IMF resources very substantially,the ministers' communiqué released after the meeting said. However, a final decision on the actual figure was deferred to the G20 leaders' meeting on 2 April, possibly in a bid to secure at least one big announcement for that date.IMF president Dominique Strauss-Kahn has called in recent weeks for a doubling of the bank's funds from its current level of $250 billion (€193bn), whereas last week the United States administration surprised the global community by saying they believed IMF funds should be tripled. Diverging opinions on the need for further fiscal stimulus spending were evident in the group's statement that said little on the subject, instead reaffirming ministers' rejection of protectionism and willingness to maintain open trade and investment. The meeting emphasised the need to restore the financial sector to normal operation and unblock credit channels to businesses currently being starved of essential capital.

As part of this drive, ministers agreed a common framework on dealing with impaired assets, essentially a government commitment to act transparently when they move to deal with the hugely devalued assets held by national banks.More telling was the agreement to bring forward the next review of IMF quotas from 2013 to 2011 under which some developing countries, such as China, with large surpluses are likely to be asked to increase donations to the multilateral lender but with the quid pro quo of increased voting authority. Emerging and developing economies, including the poorest, should have greater voice and representation,the statement says. Pre-empting this decision, Brazil, Russia, India and China put out a separate communiqué before the meeting saying the recent system of ad hoc donations should give way to a permanent increase in member state quotas and the implicit adjustment in voting rights. Japan recently signed a deal to provide the IMF with a loan of $100 billion (€77bn).

Russia proposes creation of global super-reserve currency
16.03.2009, 15.15

MOSCOW, March 16 (Itar-Tass) -- Russia suggests the G20 summit in London in April should start establishing a system of managing the process of globalization and consider the possibility of creating a supra-national reserve currency or a super-reserve currency. The Russian Federation’s proposals for ways out of the ongoing financial and economic crisis and for a post-crisis order of the world financial system have been published on the Kremlin’s website. The proposals have been dispatched to the leadership of the G20 countries, the CIS and international organizations. The current global economic crisis points to the need for discarding standard approaches and requires the adoption of collective decisions, agreed at the international level and geared to creating a system of globalization process management,the document says. Russia suggests acting with the maximum resolution in order to restore sustainable economic development and also confidence and stability in the financial markets.The Russian side believes the summit should seek and achieve accord on the main parameters of a new world financial system. It suggests calling an international conference that would produce the basic parameters of a world financial architecture and adopt international conventions regarding a new financial world order.

Russia believes that the obsolete mono-polar structure of the world economy should give way to a system based on cooperation by several major centers.In the sphere of control and supervision Russia suggests drafting and adopting an international agreement setting global standards of control and supervision in the financial sector – a Standard Universal Regulatory Framework (SURF). Russia calls for reforming the international currency and financial system with the aim to strengthen its stability and control. In that connection the Russian side suggests discussing the possibility of expanding the list of currencies to be used as reserve ones, on the basis of the adoption of agreed measures to stimulate the development of major regional financial centers, and also the creation of a supra-national reserve currency that will be issued by international financial institutions.It looks expedient to reconsider the role of the IMF in that process and also to determine the possibility and need for taking measures that would allow for the SDRs (Special Drawing Rights) to become a super-reserve currency recognized by the world community, the document says. Also, Russia in the medium and long-term is for a revision of the role and mandate of the IMF in order to adjust both to a new structure of the world currency and financial system, whose modification is to be completed as a result of the current crisis.For the purpose of overcoming the current crisis it will be necessary to considerably increase the resources of the IMF.The decisions we shall make at the London summit must be not only adequate to the current situation, but also meet the requirements of a new, post-crisis world,the document says.

Russia, Iran signed hydrocarbon memorandum allowing for swap operations
15.03.2009, 21.15

VIENNA, March 15 (Itar-Tass) -- Russian Energy Minister Sergei Shmatko and Iranian Oil Minister Qolam Hosein Nozari signed a hydrocarbon memorandum on Sunday. The document allows swap operations to Gazprom, which will deliver gas to northern Iran in exchange for gas deliveries from southern Iran to Gulf countries. Gazprom will deliver Turkmen gas purchased by Russia to northern Iran in exchange for gas deliveries from southern Iran to Gulf countries, Shmatko said. Various options are under consideration. For instance, Gazprom may exchange Turkmen gas for crude, gas condensate, LNG or other types of fuel from southern Iran. Northern Iran has a major deficit of energy resources and no infrastructure for carrying hydrocarbons from southern areas,Gazprom department head Stanislav Tsygankov said. There are several options in gas supplies to northern Iran. There is the Turkmen gas pipeline and the gas pipeline from Azerbaijan, which is not being used at present but is quite operational. We are ready to deliver hydrocarbons in exchange for deliveries from southern areas,he said.

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/

SPECIAL CONFERENCE MAR 23-24,2009,ALL FINANCIAL INSTITUTIONS WILL BE THERE,ALL THE EU MEMBERS WILL BE THERE,AND THE G-20 WILL BE THERE.THIS SAME GROUP OF EU,BANKERS,G-20 WILL ALSO BE IN LONDON IN APRIL TO LAY PLANS FOR THE NEW WORLD ORDER,ESPECIALLY THE G-20.https://futurefinance.wsj.com/index.php

HALF HOUR DOW RESULTS MON MAR 16,2009

09:30 AM +26.12
10:00 AM +68.18
10:30 AM +35.36
11:00 AM +60.77
11:30 AM +115.41
12:00 PM +97.96
12:30 PM +107.10
01:00 PM +155.87
01:30 PM +142.41
02:00 PM +126.53
02:30 PM +107.60
03:00 PM +82.19
03:30 PM +35.44
04:00 PM -7.01 7216.97

S&P 500 753.89 -2.66

NASDAQ 1404.02 -27.48

GOLD 924.70 -5.40

OIL 46.98 +0.73%

TSE 300 8388.23 +84.84

CDNX 847.32 -1.65

S&P/TSX/60 510.93 +5.10

MORNING,NEWS,STATS

YEAR TO DATE PERFORMANCE
Dow -17.69%
S&P -16.24%
Nasdaq -9.23%
TSX Advances 874,declines 638,unchanged 262,Volume 2,160,557,170.
TSX Venture Exchange Advances 348,Declines 336,Unchanged 327,Volume 130,609,639.

Dow +56 points at 4 minutes of trading today.
Dow +26 points at low today.
Dow +120 points at high today so far.
GOLD opens at $918.50.OIL opens at $44.71 today.

AFTERNOON,NEWS,STATS
Dow +26 points at low today so far.
Dow +120 points at high today so far.

DAY TODAY PERFORMANCE - 12:30PM STATS
NYSE Advances 2,829,declines 775,unchanged 83,New Highs 7,New Lows 48.
Volume 3,216,919,910.
NASDAQ Advances 1,563,declines 898,unchanged 106,New highs 4,New Lows 22.
Volume 765,473,178.
TSX Advances 851,declines 421,unchanged 268,Volume 933,225,119.
TSX Venture Exchange Advances 198,Declines 248,Unchanged 254,Volume 53,176,782.

WRAPUP,NEWS,STATS
Dow -19 points at low today.
Dow +167 points at high today.
Dow -0.10% today Volume 586,443,280.
Nasdaq -1.92% today Volume 1,944,883,343.
S&P 500 -0.35% today Volume N/A

RECORD LOWS DOW
-Sept 30,1996 5,882.17
-Oct 30,1996 5,993.23
-Nov 6,1996 6,177.71
-Dec 16,1996 6,268.35
-Apr 15,1997 6,587.16
-Apr 21,1997 6,660.21
-Apr 28,1997 6,783.02
-May 1,1997 6,976.48
-May 7,1997 7,085.65

RECORD LOWS S&P 500
-Sept 5,1996 649.44
-Sept 6,1996 655.68
-Sept 11,1996 667.28
-Sept 12,1996 671.13
-Oct 1,1996 689.08
-Oct 28,1996 697.26
-Nov 4,1996 706.73
-Nov 5,1996 714.14
-Dec 17,1996 726.04

G-8 SUMMIT
http://www.g8italia2009.it/G8/G8-G8_Layout_locale-1199882116809_Home.htm
G-20 WEBSITE
http://www.g20.org/
LATEST G-20 WEBSITE NEWS
http://www.g20.org/pub_communiques.aspx
LONDON G-20 NEWS
http://www.londonsummit.gov.uk/en/
AIMES OF THE SUMMIT
http://www.londonsummit.gov.uk/en/summit-aims/
ECONOMIC SPEECHES
http://www.londonsummit.gov.uk/en/media-centre/latest-news/speeches/
STATEMENTS RELATED TO UK G-20 MEETING
http://www.londonsummit.gov.uk/en/media-centre/latest-news/transcripts/
TIMELINE OF UPCOMING SUMMITS
http://www.londonsummit.gov.uk/en/summit-aims/timeline-events/
IMF WEBSITE
http://www.imf.org/external/pubs/ft/survey/so/2009/NEW031409A.htm

Welcome from the United Kingdom G-20 WEBSITE
The United Kingdom is honoured to chair the Group of Twenty in 2009.

Since 1999, the G-20 has contributed to strengthen the international financial architecture and to foster sustainable economic growth and development. The G-20 now has a crucial role in driving forward work between advanced and emerging economies to tackle the international financial and economic crisis, restore worldwide financial stability, lead the international economic recovery and secure a sustainable future for all countries.The financial markets and the world economy continue to face serious global challenges and the severity of the crisis and ongoing uncertainties demonstrate the need for urgent action. During the United Kingdoms Chair, the immediate priority will be to gain further agreements for a concerted, co-ordinated international response.The G-20 will need to send a strong signal that it is prepared to take whatever further actions are necessary to stabilise the financial system and to provide further macroeconomic support. At the same time, the G-20 must commit to maintaining open trade and investment, to avoid a retreat to protectionism, and direct necessary additional support to emerging markets and developing countries.The G-20 should also lay the foundations to move beyond the crisis to a sustainable recovery. In 2009, it will be important to understand the roots of the international financial crisis and identify the lessons that we can learn to ensure that a crisis of this kind does not happen again. The G-20 should develop proposals that will restore global growth in the medium term, including the unwinding of emergency measures taken in response to the crisis.In addition, we should also make progress on long-term issues such as climate change and international development.In line with usual practice, the organisation of the G-20 events during the year will be shared between the Ministry of Finance and the Central Bank. We are looking forward to working closely and drawing on the valuable experience of our Troika colleagues, Brazil and South Korea, and the other G-20 members.

G20 Finance Ministers and Central Bank Governors Meeting Communiqué (14/03/2009) A communiqué was issued by the G20 Finance Ministers and Central Bank Governors following their meeting in West Sussex, 14 March 2009.

Read the communiqué
We, the G20 Finance Ministers and Central Bank Governors, met today to prepare for the Leaders’ London Summit. We agreed further action to restore global growth and support lending, and reforms to strengthen the global financial system.

Restoring Global Growth

1. We have taken decisive, coordinated and comprehensive action to boost demand and jobs, and are prepared to take whatever action is necessary until growth is restored. We commit to fight all forms of protectionism and maintain open trade and investment.

2. Our key priority now is to restore lending by tackling, where needed, problems in the financial system head on, through continued liquidity support, bank recapitalisation and dealing with impaired assets, through a common framework (attached). We reaffirm our commitment to take all necessary actions to ensure the soundness of systemically important institutions.

3. Fiscal expansion is providing vital support for growth and jobs. Acting together strengthens the impact and the exceptional policy actions announced so far must be implemented without delay. We are committed to deliver the scale of sustained effort necessary to restore growth, and call on the International Monetary Fund (IMF) to assess the actions taken and the actions required. We will ensure the restoration of growth and long-run fiscal sustainability.

4. Interest rates have been cut aggressively in most countries, and G20 central banks will maintain expansionary policies as long as needed, using the full range of monetary policy instruments, including unconventional policy instruments, consistent with price stability.

5. We are committed to helping emerging and developing economies to cope with the reversal in international capital flows. We recognise the urgent need to pursue all options for mobilising International Financial Institution (IFI) resources and liquidity to finance countercyclical spending, bank recapitalisation, infrastructure, trade finance, rollover risk and social support. We agreed on the urgent need to increase IMF resources very substantially. This could include further bilateral support, a significantly expanded and increased New Arrangements to Borrow (NAB), and an accelerated quota review. We should also ensure that all Multilateral Development Banks have the capital they need, beginning with a substantial capital increase for the Asian Development Bank, and put it to best use to help the world’s poorest. We welcomed the progress by the IMF and World Bank in introducing new and enhanced instruments, including the development of a new high-access, quick-disbursing precautionary facility.

Strengthening the Financial System

6. To further strengthen the global financial system we have completed the immediate steps in the Washington Action Plan and we welcome the Financial Stability Forum’s (FSF) expansion to all G20 members. We remain focused on the medium term actions, and make recommendations to the London Summit to ensure:

all systemically important financial institutions, markets and instruments are subject to an appropriate degree of regulation and oversight, and that hedge funds or their managers are registered and disclose appropriate information to assess the risks they pose;

Stronger regulation is reinforced by strengthened macro-prudential oversight to prevent the build-up of systemic risk;

financial regulations dampen rather than amplify economic cycles, including by building buffers of resources during the good times and measures to constrain leverage; but it is vital that capital requirements remain unchanged until recovery is assured; and,

strengthened international cooperation to prevent and resolve crises, including through supervisory colleges, institutional reinforcement of the FSF, and the launch of an IMF/FSF Early Warning Exercise.

7. We have also agreed to: regulatory oversight, including registration, of all Credit Rating Agencies whose ratings are used for regulatory purposes, and compliance with the International Organisation of Securities Commissions (IOSCO) code; full transparency of exposures to off- balance sheet vehicles; the need for improvements in accounting standards, including for provisioning and valuation uncertainty; greater standardisation and resilience of credit derivatives markets; the FSF’s sound practice principles for compensation; and the relevant international bodies identify non-cooperative jurisdictions and to develop a tool box of effective counter measures.

8. To strengthen the effectiveness and legitimacy of the IFIs we must enhance their governance and ensure they fully reflect changes in the world economy. Emerging and developing economies, including the poorest, should have greater voice and representation and the next review of IMF quotas should be concluded by January 2011. The package of quota and voice measures decided in April 2008 should be swiftly implemented. World Bank reforms should be completed by the Spring Meetings 2010. The heads of the IFIs should be appointed through open, merit based selection processes.

Notes for Editors,Download the PDF here [32Kb],Annex to Communiqué - download the PDF here [28Kb],Progress Report on the Immediate Actions of the Washington Action Plan prepared by the UK Chair of the G20 - download the PDF here [28Kb]
Alistair Darling press conference.

World Financial Crisis G-20 Asks IMF to Track, Assess Global Crisis Response
IMF Survey online March 14, 2009

G-20 says priority to restore lending by tackling problems in the financial system
Commitment to help emerging and developing economies in the crisis Ministers agree on need to substantially boost resources available to IMF Ministers from leading industrialized and emerging market economies asked the IMF to assess the policy responses taken so far by governments and central banks to combat the world economic crisis and backed a substantial boost in the Fund’s lendable resources.The finance ministers and central bank governors from the Group of Twenty (G-20) said they were determined to revive growth around the world. Our key priority now is to restore lending by tackling, where needed, problems in the financial system head on, through continued liquidity support, bank recapitalization, and dealing with impaired assets, through a common framework,a statement at the conclusion of a two-day meeting said.

They agreed to ensure that all systemically important financial institutions, markets, and financial instruments are subject to appropriate regulation and oversight, and that hedge funds or their managers are registered and disclose appropriate information to assess the risk they pose.The communiqué called on the IMF to assess the actions taken by governments so far to restore world growth and advise on what still needed to be done to combat the crisis, which erupted in the U.S. subprime market in mid-2007. Governments around the world have announced stimulus measures and cut interest rates to counter the recession.

Preparing for London summit

The ministers, meeting ahead of an April 2 summit in London convened to coordinate action to counter the global financial and economic crisis, said they were committed to helping emerging and developing economies cope with the reversal in international capital flows triggered by the turmoil.They recognized an urgent need to pursue all options for mobilizing the resources of the international financial institutions, as well as liquidity to finance countercyclical spending, bank recapitalization, infrastructure, trade finance, rollover risk, and social support.The G-20 said the IMF’s resources should be boosted very substantially. The increase could be either from individual contributions by IMF member countries, an increase in IMF official borrowing arrangements, or an accelerated review of quotas—the money that countries pay in as members of the Fund. Japan has already contributed an extra $100 billion.

The object of the exercise is to strengthen the IMF and its ability to do more.-- Trevor Manuel, South African Finance Minister.U.S. Treasury Secretary Tim Geithner said the G-20 supported a U.S. proposal for a substantial increase in emergency IMF resources through a major enlargement of the New Arrangements to Borrow and expansion of its membership. The object of the exercise is to strengthen the IMF and its ability to do more, said South African Finance Minister Trevor Manuel.So far the IMF has lent some $55 billion to countries around the world caught up in the crisis. IMF Managing Director Dominique Strauss-Kahn has been pressing for a at least a doubling of IMF resources to $500 billion as a precaution in case the crisis worsens and more countries need to access money from the Fund. With trade plummeting and capital flows drying up, Strauss-Kahn has said that the world has entered a period of below zero growth, in a phase that he has dubbed the Great Recession.The G-20 said they wanted to ensure that multilateral development banks have the capital they need, beginning with a substantial capital increase for the Asian Development Bank, and put it to best use to help the world's poorest.

G-20 includes two-thirds of world’s population

The G-20 represents about 90 percent of global gross national product, 80 percent of world trade (including trade within the European Union) as well as two-thirds of the world's population. The G-20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States of America, plus the European Union, represented by the rotating Council presidency and the European Central Bank. The Managing Director of the International Monetary Fund and the President of the World Bank, plus the chairs of the International Monetary and Financial Committee and Development Committee of the IMF and World Bank, also participate in G-20 meetings. Strauss-Kahn said it was important also to hear the voice of low-income countries. The IMF held a major conference in Tanzania March 10-11to listen to the views of African countries and said it would ensure they were taken into account at the London meeting.Focus on new facilities and governance.

Other elements in the G-20 statement relating to the IMF included:

The ministers welcomed progress by the IMF and World Bank in introducing new and enhanced lending instruments, including the development of a new high-access, quick-disbursing precautionary facility.

They called for the IMF and Financial Stability Forum to develop early warning mechanisms that could signal when systemic risks were becoming high

They stressed the need to strengthen the effectiveness and legitimacy of international financial institutions and that they reflect changes in the world economy. Emerging and developing economies, including the poorest, should have greater voice and representation and the next review of IMF quotas should be concluded by January 2011.

The package of IMF quota and voice measures decided in April 2008 should be swiftly implemented. World Bank reforms should be completed by the Spring Meetings 2010. The heads of international financial institutions should be appointed through open, merit based selection processes.

BRICs call for bigger voice

In a separate communiqué, four major emerging market economies—Brazil, China, India, and Russia—called for a bigger voice on international bodies, and backed a large increase in IMF resources. We draw our special attention to the reform of international financial institutions. We stand for reviewing the IMF role and mandate so as to adapt it to a new global monetary and financial architecture. We emphasize the importance of a strong commitment to governance reform with a clear timetable and roadmap,they said.They said the crisis has demonstrated that the IMF must strengthen its capability to monitor and give policy advice on the global economy. To achieve this goal, we emphasize the importance of better-focused even-handed surveillance across all IMF members, especially in respect to advanced economies with major international financial centers and large cross-border capital flows.Comments on this article should be sent to imfsurvey@imf.org

Powerful IMF Friday, Mar. 15, TIME

A Depressing Assessment From the World Bank on Global Economic Disparity
In their headstrong hurry to build plants atop plantations, many of the world's developing nations go for broke—and could end up there. When they get in a jam, they usually turn to a club of worldly bankers called the International Monetary Fund, set up at the Bretton Woods conference in 1944 to give emergency, short-term aid to ailing economies. The IMF has become a powerful and controversial force in the world economy, forcing upon loan-seeking nations stiff conditions that frequently rescue their economies but gall their free-spending politicians. With loans at work in 24 developing nations, the IMF swings considerable weight from the Nile to the River Plate. Last week the IMF announced that it will grant larger loans to nations whose economies suffer from temporary declines in prices of their exports—and do so with less stringent demands for internal corrective policies. The world's underdeveloped nations welcomed the news, but no one expected the IMF to relax much of its vigilance over national economies. The source of the fund's power is its $15 billion treasury, raised from 83 member nations, each of which can theoretically, at any difficult time, draw out 25% more than it put in. The advantage, of course, is that poorer nations can deposit their own soft currency, draw out hard currency in loans. Every year the IMF conducts on-site inspections of each member nation, dispatching teams of two to five expert economists to pry into budgets, money supplies and payments balances. The inspectors then pass on their reports to IMF's 18-man international board, headed by Sweden's Per Jacobsson, 69, an economist of the classical monetarist school.

Anxious for Approval. As a champion of fiscal sanity and free trade, Jacobsson's IMF frequently requires governments to reduce spending, limit credit expansion, drop trade barriers and raise taxes. Few nations willingly accede to such reforms, but the IMF can be tough. Before granting loans, it forced the Philippines to tighten credit and Egypt to devalue its pounds. It temporarily cut off credit to Turkey, Colombia and Brazil for failing to live up to its demands. Despite their balking, underdeveloped nations are anxious to get IMF's approval, aware that it opens the way for millions more in private credits and foreign aid. Many troubled nations are avidly seeking IMF aid. Argentina, which is fighting inflation, depression and a $365 million budget deficit, has been forced to raise cigarette and gasoline taxes and promise to raise fares on its debt-ridden national railways to qualify for a $50 million IMF loan. Inflation-racked Indonesia wants $30 million, and the IMF will probably demand a stern austerity program and a slowdown in military spending.Seeking $100 million, nearly bankrupt Brazil has pledged to cut its rate of inflation in half this year—from 60% to 30%. But that is not enough for the IMF; though most economists consider it an impossibility, the IMF is insisting that Brazil slash inflation to 10% within a year, perhaps as a bargaining tool to get Brazil to try harder. Breaking the Bible. The IMF feels that the leaders of developing nations often put politics ahead of economics, breaking every rule in the bible of Bretton Woods to stay in office. Some responsible critics, mostly within the developing nations themselves, think that the IMF is often too rigidly academic in its demands and blind to politicalrealities. The IMF can tell the Argentines to fire half of their nationalized railroademployees, says Yale Economist Richard Ruggles, but that might cause a strike that would do more long-run damage than an unbalanced budget.Per Jacobsson and his colleagues insist that the fund's economic prescriptions work—and have some good examples to prove it. Both Britain and Canada asked IMF help to survive currency crises. Greece prospered after it revalued its drachma, and Japan boomed anew after it liberalized trade—both under IMF prodding. Spain is building a modern economy for the first time, thanks partly to a $75 million IMF loan and an IMF-dictated policy of higher taxes, lower government spending and freer trade. The IMF may have become a dictator to the world's economies, but almost everybody seems to agree that its dictates are good ones.Last week, at about the same time that it signed an agreement to borrow $17 million from the U.S., Indonesia also signed a contract with General Dynamics to buy three Convair 990 commercial jets for more than $20 million.

G20 backs boosting ADB's capital by $100 bln
Sat Mar 14, 2009 3:47pm Market News

HORSHAM, England, March 14 (Reuters) - G20 finance chiefs backed on Saturday a tripling of the Asian Development Bank's capital to just over $150 billion and said other development banks should consider whether they need more to fight the crisis.In response to calls from Brazil, China, Russia and India, the G20 said they would bring forward global expenditure to support financing to developing countries by $100 billion over the next three years.The Asian Development Bank should immediately proceed with a substantial general capital increase of 200 percent or $100 billion,G20finance ministers and central bankers said in a statement.G-20 members, through their involvement in the Boards of Governors, commit to urgently review the adequacy of the capital resources of all MDBs (multilateral development banks) to provide appropriate increases in funding to mitigate the consequences of the crisis,they said.The move comes amid concern over the sharp fall in capital flows to emerging markets, starving them of credit needed to keep their economies going.The world's largest emerging economies said on Friday that the collapse of private capital this year was likely to continue into 2010, making it imperative that international financial agencies step up lending.It is imperative that multilateral financial institutions should expand their lending to offset the massive decline,said Brazil, China, Russia and India, known as the BRICs.

Multilateral development banks, like the ADB, should seek to offset the flight of capital and fuel demand by providing a consolidated basis for fiscal expansion, support to social safety nets, trade financing, bank recapitalization, and infrastructure investment,the G20 said in a statement.The G20 said they would review the capital needs of African Development Bank and the Inter-American Development Bank at annual meeting this year and called on the European Bank for Reconstruction and Development to promptly review its statutory capital constraints to give leeway to interventions.It said the Islamic Development Bank had a reasonable level of resources but should keep its needs under review as the situation in its member countries evolved. The G20 also urged the World Bank to reform ownership and internal governance to give more say to emerging markets and developing economies by the 2010 Spring Meeting.

Economy | 13.03.2009
Merkel Rejects Calls for New Stimulus Package Before G20 Meeting

Großansicht des Bildes mit der Bildunterschrift: Merkel wants a new regulatory system, not more spendingGerman Chancellor Angela Merkel has reiterated that she does not favor a new package of economic stimulus measures despite US calls for more spending as world leaders prepare for a G20 meeting in London. We do not think much of the idea of a new package of measures to underpin the economy, Merkel told a press conference in Munich on Friday, March 13, after a meeting with employers.Splits have emerged ahead of a meeting in London on Saturday of the Group of 20 finance chiefs, with the United States and Japan backing more stimulus spending and European leaders pushing tougher regulations as the best way out of the global economic crisis.The G20 group of developed and emerging economies will discuss measures to get their economies back on track at an April 2 summit in the British capital.Just three weeks before the April summit, discord seems to outweigh lip service to coordination. A German-French drive to focus on cross-border rules for finance is further souring the air.We have agreed that Germany and France will send a common signal at this summit on April 2, German Chancellor Angela Merkel said at a joint press conference with French President Nicolas Sarkozy in Berlin on Thursday.The issue is not spending even more but to put in place a regulatory system to prevent the economic catastrophe that the world is experiencing from being repeated,Merkel said in a direct rebuttal to US calls for more spending. There must be regulation and transparency of financial markets,she said.We consider that in Europe, we have already invested considerably, Sarkozy told reporters.Countries like France and Germany feel they have already drawn up substantial stimulus packages, with Berlin drafting two plans worth a total 81 billion euros ($104 billion).

Europe wary of Obama's pump-priming

Bildunterschrift: Großansicht des Bildes mit der Bildunterschrift: Obama signed off on a stimulus bill which dwarfs the EU's efforts.US President Barack Obama, who enacted a $787-billion stimulus bill last month, tried to bridge the gap on Wednesday, calling for a two-pronged G20 effort to fix the global economy: stimulus measures and regulatory reforms.But after a meeting of euro zone finance ministers this week, their chairman Prime Minister Jean-Claude Juncker of Luxembourg rejected the US calls for more pump-priming by other G20 economies, declaring such proposals do not suit us.Juncker, after conferring with Czech officials in Prague on Thursday, again voiced opposition to any additional spending plan to combat the crisis.The European recovery program represents a spending level of 3.4 to 4.0 percent of GDP, he said.Our public finances are beginning to suffer and we must take account of the effects these programs will have in 2009 and 2010 before we undertake additional spending.The US stimulus is substantially more than the 400 billion euros engaged by the 27 EU countries. The two total economies are of comparable size, but the EU has not forged an integrated response.

US eager to inject more cash; Europe balks

Bildunterschrift: Großansicht des Bildes mit der Bildunterschrift: The US wants to pump more dollars into the economy.US Treasury Secretary Timothy Geithner has also called for the International Monetary Fund's "New Arrangements to Borrow credit program to be boosted to $500 billion -- far more than proposed by the Europeans.For the whole of 2009, Britain is chairing meetings of the G20 -- a grouping of 19 developed and developing countries plus the European Union. G20 nations include China, Germany, Japan, Mexico, Turkey and the United States.The main point of contention appears to be a push by the United States and Britain -- which have angled much of their rescue spending on boosting demand -- for some leading EU countries to do likewise.The United States and Britain have included heavy demand-side measures, such as a cut in sales tax in Britain, because they stimulate activity quickly.

Europeans accused of being too industry-focused

Bildunterschrift: Großansicht des Bildes mit der Bildunterschrift: Sarkozy and Merkel want to protect their industrial sectors.They argue broadly that some countries, principally Germany but also France, have focused unduly on increasing state spending on investment in industry and infrastructure and should now allocate extra funds to spark consumption.However, leading countries in Europe face constraints on their big budget deficits, which are rising markedly above EU limits.

German officials have also begun to talk about exit strategies from the massive state spending and support program once the crisis begins to abate.European Commission chief Jose Manuel Barroso on Thursday defended Europe's efforts to soften the blow of the global crisis.The social system of Europe is very different from the American one, he told a news conference in Brussels.We have, compared to the US, a very ambitious system of social safety nets, in terms of unemployment, in terms of public health and in many other areas.So when we talk about fiscal stimulus, it's not the same thing in the US and in Europe because the Americans usually think about discretionary additional fiscal stimulus,he said.

Australia calls for Asian G20 meetingMarch 12, 2009

The federal government will call for a special Asian G20 summit as part of plans to ease the global economic crisis.Fairfax newspapers report that the plans will include doubling the resources of the International Monetary Fund's (IMF) resources and pumping money into struggling national economies.Australia will present the proposal at the G20 summit in London next month and hopes to secure a third G20 meeting in Asia, possibly South Korea, later this year, Fairfax said.A working paper obtained by Fairfax and sent to each G20 nation called for the Doha round of international trade negotiations to be concluded by the end of the year, the report said.Finance ministers will meet in London this weekend to decide the agenda for the G20 summit.

The working paper said the IMF will lose relevance without decisive action... to ensure (its) adequate and speedy resourcing.The paper called for key principles to ensure national stimulus packages have the greatest impact, noting that action taken by various governments in response to the crisis has proved insufficient because each is judged by the market against what others are doing.It also challenged G-20 leaders to abide by a commitment made in Washington in November not to revert to protectionist practices and proposed international agreement to manage toxic assets linked to bad subprime loans.These cost of these assets was estimated at $US3 trillion ($A4.7 trillion), with a potential cost to global gross domestic product of 3.5 per cent, Fairfax said.2009 AAP

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 (MUSLIMS) have consulted together with one consent: they are confederate against thee:(TREATIES)
6 The tabernacles of Edom,and the Ishmaelites;(ARABS) of Moab, and the Hagarenes;
7 Gebal, and Ammon,(JORDAN) and Amalek;(SYRIA) the Philistines (PALESTINIANS) with the inhabitants of Tyre;(LEBANON)

DANIEL 11:40-43
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.

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.

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)

WARS AND RUMURS OF WARS.

MATTHEW 24:6
6 And ye shall hear of wars and rumours of wars: see that ye be not troubled: for all these things must come to pass, but the end is not yet.

MARK 13:7
7 And when ye shall hear of wars and rumours of wars, be ye not troubled: for such things must needs be; but the end shall not be yet.

OBAMA DECEPTION 1H 53M OF THE OBAMA AGENDA - VIDEO
http://www.youtube.com/watch?v=eAaQNACwaLw&eurl=http://www.infowars.com/review-the-obama-deception-by-alex-jones/

IRAN - HAMAS CONNECTIONS
http://britanniaradio.blogspot.com/2009/03/03142009-middle-east-chessboard-click.html#links

U.S. Intelligence Official about Israel: This is just the beginning P1
U.S. Intelligence official breaks silence on Israel situation.

31 December 2008: Northeast Intelligence Network director Doug Hagmann interviewed a highly-placed U.S. intelligence official late yesterday who not only confirmed rumors about escalated and more intensive Israeli military operations against the Muslim terrorists in Gaza, warned of the increasing probability of abandonment of Israel by the U.S. and other Western countries based on what he termed malicious intelligence.

Remember that term,advised this well-placed intelligence official,you’ll be hearing it again.This is just the beginning,stated this intelligence official, who wished to remain anonymous. This official stated that the possibility for a much more protracted ground war is more likely today than at any other time in the past, adding that Israel is exercising her right to protect herself from her enemies in Gaza. But there is a catch, noted this official, and a big one at that: Israel could be about to lose the support of the United States.I have every reason to believe, based on what I’ve seen at my level of [security] clearance especially over the last several years, that Israel will soon be completely on their own… or worse. When asked what could be worse than losing the support of the United States, he stated: when our administration provides more support to Arab countries [with] financial and military aid, undercutting Israel’s defense efforts all while pushing Israel to succumb to the pressure of unreasonable demands designed to end with their political annihilation as a nation.According to this official, the U.S. has been slowly proceeding down this road. He cited the 2005 surrender of Gush Katif to the Palestinian Authority as one critical example of the slow dismantlement of Israel as a viable nation. Despite critical intelligence outlining in every possible manner imaginable that this would be a disastrous move leading to the events we are seeing today, it was done anyway, he stated.We are seeing the very scenario play out today that was outlined in intelligence briefs three and four years ago. Knowing that, there is something very wrong with this picture,he stated.He added that Western media is also playing a very big role in the current war in the Middle East, thanks, in part, to carefully worded statements prepared by political officials in Washington. Officials in the current administration, like some previous administrations, submit carefully crafted informational releases to a media that is controlled by those having special interests that are contrary to a legitimate peace in the Middle East.The game is rigged. At the highest levels of power in the U.S. and even by some in power in Israel, the game is rigged,he emphasized.The next obvious question in this interview was, of course,how is it rigged? followed by ”how are you in a position to know?

This official responded by stating that he has spent the last two decades serving in an unfortunate position where intelligence and politics meet and often collide. Now, merely days away from retirement, he stated that he is looking forward to leaving his position after conducting over 20 years of intelligence work that has been molded and massaged to advance the agendas of a select few.He continued: When an intelligence work product that has been thoroughly and properly vetted is submitted to those in Washington, and I see a completely different and entirely inaccurate product intentionally submitted and aired in the media, only to be told that is the way it must be, then I know it’s time for me to leave.It is obvious to me that most Americans don’t understand or don’t care what is actually happening in the Middle East relative to Israel. People don’t understand history, or have been subjected to revisionist history based on lies and more lies. Add to that a media that fails to provide an accurate assessment of what is taking place in Israel, in Gaza, and you end up with a very bad situation for Israel,stated this source. He added that the disinformation coming and going to and from Washington is getting worse, as is the media bias against Israel.The events currently taking place in Israel are extremely perilous for Israel and especially perilous for the national security of the United States, according to this source. Contrary to the accepted assessments of “Middle East experts in the news, our intelligence services have ample evidence to prove active collusion and support between HAMAS and other terrorist organizations, both Sunni and Shite. Further, there is a level of Iranian complicity in this war that is not being talked about, or being dismissed out of hand because of the schism between the Sunni and Shia sects,stated this source.

Coming next:More from this interview, in addition to an interview arranged by this intelligence official with a high-ranking Israeli IDF official conducted on 31 December 2008.

The Coming War
Part II in a series based on an interview with a former, highly-placed U.S. intelligence official who breaks his silence on the increasing probability of abandonment of Israel by the U.S. and other Western countries based on what he termed malicious intelligence. (Click here for Part I).By Douglas J. Hagmann, Director

10 March 2009: The Middle East will be the site of the coming war, and Israel will be at it’s epicenter. If we survive as a nation, the U.S. will not be on the side of righteousness in this war, instead turning our back to - or our guns against - our only true friend in the Middle East: Israel.Remember the phrase malicious intelligence? asked the source during our latest interview. Well, Charles Freeman, appointed by Barack Hussein Obama to chair the National Intelligence Council can be presented as exhibit 1. Freeman, a former ambassador to Saudi Arabia during the first Gulf war and an obvious the benefactor of Saudi money in his position as head of the Middle East Policy Council, has shifted his public position on the reasons behind the attack of 9/11 and Israel as a U.S. ally as quickly as former UN weapons inspector Scott RITTER shifted his public position on weapons of mass destruction in Iraq.

RITTER is referenced here not to digress from the primary topic, but is an integral part of the topic. He also illustrates how someone is apparently able to mentally reconcile and public embrace two starkly opposing viewpoints in a matter of a few short years without being medically diagnosed as a schizophrenic. In a most generic sense, many of the same factors involved in the about face done by Scott RITTER can be used as a template overlay for Charles Freeman, sans RITTER’s alleged search for contraband of a different type at a Burger King restaurant in Colonie, a suburb of Albany, NY. In a more specific sense, however, some of the usual suspects begin to emerge in both cases. While RITTER has been relegated to shill status for those usual suspects intent on implementing a New World Order, FREEMAN is being moved in as a key player.RITTER, of course, was a United Nations weapons inspector from 1991 to 1998 and was an outspoken critic of Saddam Hussein. That was, of course, until Shakir al-Khafaji, a close contact of Saddam Hussein and an Iraqi-American businessman from Detroit reportedly provided RITTER with $400,000 to produce a documentary titled In Shifting Sands that was extremely critical of the U.S. led U.N. inspections. It should be noted that in 2004, Shakir al-Khafaji pled guilty to multiple felony charges for his role in the U.N. Oil-for-Food scandal and that RITTER, of course, staunchly denies being the benefactor of Iraqi money. In fact, when RITTER was questioned about how he would respond to accusations of a quid pro Quo relationship with Shakir al-Khafaji (about monetary allocations in his name), he was quoted by Dr. Laurie Mylroie, writing in the Financial Times, stating: I’d say that person’s a f***ing liar…and tell him to come over here so I can kick his a**.[Expletives deleted].

I experienced some of that same venom when I had the opportunity to question RITTER about his epiphany about Iraq when he appeared as a guest on the Pat Campbell Show a few years back. During that exchange, RITTER denied receiving any Iraqi money from al-Khafaji, but was less than concise when he attempted to explain the underwriting process of that pro-Saddam, anti-U.S. propaganda.Now consider the Charles FREEMAN’s about-face regarding Israel as a friend and valuable ally of the United States, his more recent comments about the reasons behind the 9/11 attacks, and perhaps more importantly, his relationship with Saudi Arabia (including Citibank shareholder Prince Al-Waleed) through the prism of the RITTER affair. While both experienced their own individual epiphanies that share the same anti-Israeli roots, the difference here is that FREEMAN is about to assume a position of leadership with the National Intelligence Council, whose stated goal is to provide U.S. policymakers with unbiased information on issues of national security and global threats. He is on the inside, while RITTER, perhaps still searching for a method of having it his way,is presently out of the inner circle.Both, however, appear to share the common public position that Israel and the U.S. pro-Israel lobby is to blame for everything from the impetus for the 9/11 attacks to our war against Islamic terrorists. Both share vicious criticism of Israel. Both seem to be at ease with Iran’s nuclear ambitions. In the case of Charles FREEMAN, however, such sentiments extend beyond propaganda and can influence – or become U.S. policy.An article published today in the Wall Street Journal titled Obama’s National Intelligence Crackpot (What does the Jewish lobby have to do with China’s dissidents) does well to expose FREEMAN for who he is and the role he will play in our relationship with Israel and our war against Islamic terrorism. And if you want to follow the money and the globalist agenda, note that FREEMAN sits on the board of a major oil company owned by the Chinese government that is in the midst of a multibillion dollar deal with Iran, as reported by World Net Daily. So now we have the presumptive leader of the National Intelligence Council having ties to Iran via China, in addition to his financial ties to Saudi Arabia, the largest exporter of Wahabbism in the world - and the bankroll behind the Islamists inside the U.S.

How can any rational or sane person accept such a preposterous appointment? Well, it seems that many such appointments have been made that defy rationality, unless one can recognize that a larger agenda is at play here.Intelligence for national security purposes must not be subjugated by politics or financial interests, otherwise it becomes malicious at the hands with those having agendas. If one chooses to argue that Iraq was the victim of big oil interests, than that same argument must extend to our relationship with Israel and opposing Arab countries. In other words, money talks – and it talks loudly, frequently drowning out the truth with political propaganda propagated by a media already influenced by Arab financial interests. And with money comes power and influence.Now you can see where intelligence and politics meet and often collide,a reference made during my initial interview with this former U.S. intelligence official. Now this intelligence official explained that the Obama administration is being purposely filled with people who are truly anti-Israel, either because of their own financial interests or a larger globalist agenda that does not include Israel, or for that matter, the United States as a sovereign nation.

“Whatever the reason, the anti-Israel, pro-Islamist policy makers will be appointed or have already infiltrated nearly all levels of the U.S. government. These are the people who place anti-Semitic references in school textbooks, promote revisionist history regarding Islam, 9/11, and are the same people who allow or even promote the Islamic agendas in all aspects of Western society, especially the restrictions on speech against Islam. With regard to the latter, note that the United Nations is quite involved in forcing the restriction of hate speech and the implementation of global standards, some that have already been adapted by European nations.Closer to home, there is an organized, concerted effort on the part of these individuals to foster an atmosphere of anti-Semitism throughout the West, and in particular within the United States. This is an important aspect of their global objectives, and includes blaming the Jews for our current financial crisis. The majority of Americans might not care about or even understand the situation with the Palestinians, Israel or the Middle East, but they certainly care about their own finances, especially when they see their retirement funds evaporating before their eyes. Now, they become afraid, anxious and angry.Associate Israel or Jewish interests with global instability, Americans will become upset with the Jews and Israel. Blame them for being responsible for or contributing to the loss of their retirement and their economic problems, they will become angry. The objective is to erode support for the Jews and Israel in America, and is being done with the assistance of a media influenced and infiltrated by anti-Israel, pro-Palestinian, Arab and Muslim apologists. At the same time that the anti-Semitic undercurrent is perpetuated in America, world pressure against Israel will mount. Expect to see an increase in hostile acts against Jews in the U.S., Jewish synagogues and other Jewish assets, stated this source.Meanwhile, in order for the globalist agenda to succeed, the United States cannot remain a close ally of Israel. That relationship is being undermined from within, and the information being publicly disseminated is being manipulated from within - by a compromised and all-too-willing media.According to this source, the groundwork to get to this point has been in the works for years, if not decades.It was just placed on the fast track under Obama, who has promised his allegiance to the Arabs. If not already, this will become quite evident to even the most skeptical, much to the consternation of the majority of American Jews who voted for him.As for the coming war, it has already begun as a war for the minds, hearts and souls of the people in the West, and will manifest itself quickly to a physical war between Israel and her Arab neighbors. It will likely begin as it has in the past, with a missile or rocket fired by HAMAS, followed by a measured response from Israel. Then a good dose of propaganda from the media, who will portray the Jews as murderers of innocent men, women and children. Then outrage and condemnation from the international community, led by the United Nations, who will demand peace at the expense of Israel. This time, the U.N. will have the cooperation of the United States under the Obama administration.

We will send troops as part of a larger peacekeeping mission,but they will most certainly not be there to help the Israelis. But first, America must be convinced that being an ally of Israel is not in our best interests, and they are the antagonists in this scenario. By electing who we have, and by the appointments already made and policies already implemented, they’re off to a pretty good start, don’t you think? Numerous people have questioned how a junior senator from Illinois - a virtual unknown - could rise from virtual obscurity to the leader of the free world in seven years. Many of the same people have asked how that same person could rise to power despite still-unanswered questionsof his eligibility, and a past checkered by questionable associates and associations.The answers lie in the globalist agenda, one that has no place for Israel, beyond Israel being the catalyst for the implementation of a new world order.