BREAKING NEWS:THE DEMOCRATES WHEN BACK IN THE HOUSE WANT TO PUT A BILL THREW THAT SAYS A SIMPLE MAJORITY VOTE 51% CAN PUSH THE HEALTHCARE BILL THREW.THIS WILL ELIMINATE THE REPUBLICANS AND FORCE THIS MURDER HEALTHCARE BILL THROUGH.THESE GODLESS LIBERAL,DEMOCRAT,NEW WORLD ORDER NUTCASES WILL DO ANYTHING TO GET THEIR MURDER HEALTHCARE BILL PASSED AND THEY WILL TRY EVERY TRICK IN THE BOOK TO GET IT DONE WITHOUT ANY OPPOSITION.
EU DICTATOR (WORLD LEADER)
http://www.youtube.com/watch?v=nnq5cQMiAB8&feature=related
REVELATION 17:12-13
12 And the ten horns (NATIONS) which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.
13 These have one mind, and shall give their power and strength unto the beast.
REVELATION 6:1-2
1 And I saw when the Lamb opened one of the seals, and I heard, as it were the noise of thunder, one of the four beasts saying, Come and see.
2 And I saw, and behold a white horse:(PEACE) and he that sat on him had a bow;(EU DICTATOR) and a crown was given unto him:(PRESIDENT OF THE EU) and he went forth conquering, and to conquer.(MILITARY GENIUS)
REVELATION 13:1-10
1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.(THE EU AND ITS DICTATOR IS GODLESS)
2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority.(DICTATOR COMES FROM NEW AGE OR OCCULT)
3 And I saw one of his heads as it were wounded to death;(MURDERERD) and his deadly wound was healed:(COMES BACK TO LIFE) and all the world wondered after the beast.(THE WORLD THINKS ITS GOD IN THE FLESH, MESSIAH TO ISRAEL)
4 And they worshipped the dragon (SATAN) which gave power unto the beast:(JEWISH EU DICTATOR) and they worshipped the beast, saying, Who is like unto the beast? who is able to make war with him?(FALSE RESURRECTION,SATAN BRINGS HIM TO LIFE)
5 And there was given unto him a mouth speaking great things and blasphemies; and power was given unto him to continue forty and two months.(GIVEN WORLD CONTROL FOR 3 1/2YRS)
6 And he opened his mouth in blasphemy against God,(HES A GOD HATER) to blaspheme his name, and his tabernacle, and them that dwell in heaven.(HES A LIBERAL OR DEMOCRAT,WILL PUT ANYTHING ABOUT GOD DOWN)
7 And it was given unto him to make war with the saints,(BEHEAD THEM) and to overcome them: and power was given him over all kindreds, and tongues, and nations.(WORLD DOMINATION)
8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.(WORLD DICTATOR)
9 If any man have an ear, let him hear.
10 He that leadeth into captivity shall go into captivity: he that killeth with the sword must be killed with the sword. Here is the patience and the faith of the saints.(SAVED CHRISTIANS AND JEWS DIE FOR THEIR FAITH AT THIS TIME,NOW WE ARE SAVED BY GRACE BUT DURING THE 7 YEARS OF HELL ON EARTH, PEOPLE WILL BE PUT TO DEATH (BEHEADINGS) FOR THEIR BELIEF IN GOD (JESUS) OR THE BIBLE.
THE WEEK OF DANIEL 9:27 WE KNOW ITS 7 YRS
Heres the scripture 1 week = 7 yrs Genesis 29:27-29
27 Fulfil her week, and we will give thee this also for the service which thou shalt serve with me yet seven other years.
28 And Jacob did so, and fulfilled her week: and he gave him Rachel his daughter to wife also.
29 And Laban gave to Rachel his daughter Bilhah his handmaid to be her maid.
DANIEL 9:26-27
26 And after threescore and two weeks shall Messiah be cut off, but not for himself: and the people of the prince that shall come (ROMANS IN AD 70) shall destroy the city and the sanctuary;(ROMANS DESTROYED THE 2ND TEMPLE) and the end thereof shall be with a flood, and unto the end of the war desolations are determined.
27 And he( EU ROMAN, JEWISH DICTATOR) shall confirm the covenant with many for one week:( 7 YEARS) and in the midst of the week he shall cause the sacrifice and the oblation to cease,( 3 1/2 YRS) and for the overspreading of abominations he shall make it desolate, even until the consummation, and that determined shall be poured upon the desolate.
We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent.James Paul Warburg appearing before the Senate on 7th February 1950
Like a famous WWII Belgian General,Paul Henry Spock said in 1957:We need no commission, we have already too many. What we need is a man who is great enough to be able to keep all the people in subjection to himself and to lift us out of the economic bog into which we threaten to sink. Send us such a man. Be he a god or a devil, we will accept him.And today, sadly, the world is indeed ready for such a man.
WORLD GOVERNMENT
http://www.youtube.com/watch?v=nnq5cQMiAB8&feature=related
http://britanniaradio.blogspot.com/2009/07/we-are-already-under-global-government.html#links
EPHESIANS 6:10-13
10 Finally, my brethren, be strong in the Lord, and in the power of his might.
11 Put on the whole armour of God, that ye may be able to stand against the wiles of the devil.
12 For we wrestle not against flesh and blood, but against principalities,(DEMONIC ANGELS IN HIGH PLACES) against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.(SPIRTIUAL DEMONIC PERSONS)
13 Wherefore take unto you the whole armour of God, that ye may be able to withstand in the evil day, and having done all, to stand.
LUKE 4:5-7(BECAUSE SATAN OFFERS WORLD POWER, WORLD ORDERERS HAVE ACCEPTED SATANS GIFT)
5 And the devil, taking him (JESUS) up into an high mountain, shewed unto him all the kingdoms of the world in a moment of time.
6 And the devil said unto him, All this power will I give thee, and the glory of them: for that is delivered unto me; and to whomsoever I will I give it.
7 If thou therefore wilt worship me, all shall be thine.
DANIEL 7:23-25
23 Thus he said, The fourth beast shall be the fourth kingdom upon earth, which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.
24 And the ten horns out of this kingdom are ten kings that shall arise: and another shall rise after them; and he shall be diverse from the first, and he shall subdue three kings.
25 And he shall speak great words against the most High, and shall wear out the saints of the most High, and think to change times and laws: and they shall be given into his hand until a time and times and the dividing of time.
DANIEL 12:4,1
4 But thou, O Daniel, shut up the words, and seal the book, even to the time of the end: many shall run to and fro, and knowledge shall be increased.
1 And at that time shall Michael stand up, the great prince which standeth for the children of thy people: and there shall be a time of trouble, such as never was since there was a nation even to that same time: and at that time thy people shall be delivered, every one that shall be found written in the book.
REVELATION 13:1-3,7,8,12,16-18
1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.
2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority.
3 And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast.
7 And it was given unto him to make war with the saints, and to overcome them: and power was given him over all kindreds, and tongues, and nations.
8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.
12 And he exerciseth all the power of the first beast before him, and causeth the earth and them which dwell therein to worship the first beast, whose deadly wound was healed.
16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
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.
REVELATION 17:3,7,9-10,12,18
3 So he carried me away in the spirit into the wilderness: and I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns.
7 And the angel said unto me, Wherefore didst thou marvel? I will tell thee the mystery of the woman, and of the beast that carrieth her, which hath the seven heads and ten horns.
9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sitteth.
10 And there are seven kings: five are fallen, and one is, and the other is not yet come; and when he cometh, he must continue a short space.
12 And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.
18 And the woman which thou sawest is that great city, which reigneth over the kings of the earth.
ANTICHRIST (NAMES OF)
MATTHEW 24:24
24 For there shall arise false Christs, and false prophets, and shall shew great signs and wonders; insomuch that, if it were possible, they shall deceive the very elect.
MARK 13:22
22 For false Christs and false prophets shall rise, and shall shew signs and wonders, to seduce, if it were possible, even the elect.
1 JOHN 4:2-3
2 Hereby know ye the Spirit of God: Every spirit that confesseth that Jesus Christ is come in the flesh is of God:
3 And every spirit that confesseth not that Jesus Christ is come in the flesh is not of God: and this is that spirit of antichrist, whereof ye have heard that it should come; and even now already is it in the world.
2 JOHN 7
7 For many deceivers are entered into the world, who confess not that Jesus Christ is come in the flesh. This is a deceiver and an antichrist.
1 JOHN 2:18,22
18 Little children, it is the last time: and as ye have heard that antichrist shall come, even now are there many antichrists; whereby we know that it is the last time.
22 Who is a liar but he that denieth that Jesus is the Christ? He is antichrist, that denieth the Father and the Son.
DANIEL 9:26 (COMES FROM ROME) (EU)
26 And after threescore and two weeks shall Messiah be cut off, but not for himself: and the people of the prince that shall come shall destroy the city and the sanctuary; and the end thereof shall be with a flood, and unto the end of the war desolations are determined.
DANIEL 8:9
9 And out of one of them came forth a little horn, which waxed exceeding great, toward the south, and toward the east, and toward the pleasant land.
DANIEL 7:8
8 I considered the horns, and, behold, there came up among them another little horn, before whom there were three of the first horns plucked up by the roots: and, behold, in this horn were eyes like the eyes of man, and a mouth speaking great things.
DANIEL 8:23
23 And in the latter time of their kingdom, when the transgressors are come to the full, a king of fierce countenance, and understanding dark sentences, shall stand up.
DANIEL 11:36
36 And the king shall do according to his will; and he shall exalt himself, and magnify himself above every god, and shall speak marvellous things against the God of gods, and shall prosper till the indignation be accomplished: for that that is determined shall be done.
2 THESSALONIANS 2:3-4,8
3 Let no man deceive you by any means: for that day shall not come, except there come a falling away first, and that man of sin be revealed, the son of perdition;
4 Who opposeth and exalteth himself above all that is called God, or that is worshipped; so that he as God sitteth in the temple of God, shewing himself that he is God.
8 And then shall that Wicked be revealed, whom the Lord shall consume with the spirit of his mouth, and shall destroy with the brightness of his coming:
ISAIAH 57:20
20 But the wicked are like the troubled sea, when it cannot rest, whose waters cast up mire and dirt.
REVELATION 13:1-2
1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.
2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority.
BABYLON (FALSE CHURCH DESTROYED) VATICAN IN ROME
REVELATION 17:1-18
1 And there came one of the seven angels which had the seven vials, and talked with me, saying unto me, Come hither; I will shew unto thee the judgment of the great whore that sitteth upon many waters:
2 With whom the kings of the earth have committed fornication, and the inhabitants of the earth have been made drunk with the wine of her fornication.
3 So he carried me away in the spirit into the wilderness: and I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns.
4 And the woman was arrayed in purple and scarlet colour, and decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication:
5 And upon her forehead was a name written, MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS OF THE EARTH.
6 And I saw the woman drunken with the blood of the saints, and with the blood of the martyrs of Jesus: and when I saw her, I wondered with great admiration.
7 And the angel said unto me, Wherefore didst thou marvel? I will tell thee the mystery of the woman, and of the beast that carrieth her, which hath the seven heads and ten horns.
8 The beast that thou sawest was, and is not; and shall ascend out of the bottomless pit, and go into perdition: and they that dwell on the earth shall wonder, whose names were not written in the book of life from the foundation of the world, when they behold the beast that was, and is not, and yet is.
9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sitteth.
10 And there are seven kings: five are fallen, and one is, and the other is not yet come; and when he cometh, he must continue a short space.
11 And the beast that was, and is not, even he is the eighth, and is of the seven, and goeth into perdition.
12 And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.
13 These have one mind, and shall give their power and strength unto the beast.
14 These shall make war with the Lamb, and the Lamb shall overcome them: for he is Lord of lords, and King of kings: and they that are with him are called, and chosen, and faithful.
15 And he saith unto me, The waters which thou sawest, where the whore sitteth, are peoples, and multitudes, and nations, and tongues.
16 And the ten horns which thou sawest upon the beast, these shall hate the whore, and shall make her desolate and naked, and shall eat her flesh, and burn her with fire.
17 For God hath put in their hearts to fulfil his will, and to agree, and give their kingdom unto the beast, until the words of God shall be fulfilled.
18 And the woman which thou sawest is that great city, which reigneth over the kings of the earth.
EU CALLS FOR WORLD GOVERNMENT
http://www.youtube.com/watch?v=a7D21rPpBrk&eurl=http%3A%2F%2Feuro%2Dmed%2Edk%2F%3Fp%3D1277&feature=player_embedded
http://www.youtube.com/watch?v=wFs99zBTRO0&feature=related
http://www.youtube.com/watch?v=kTfv6uOHgqQ&feature=related
http://www.youtube.com/watch?v=QVeMBNB0cII&feature=related
http://video.google.com/videoplay?docid=-4291770489472554607&ei=iaRTSrzHAoqUqQL1gMGqDw&q=EU&hl=en
http://www.youtube.com/watch?v=QVeMBNB0cII&feature=player_embedded
http://www.youtube.com/watch?v=aVmtbLc4t6M&eurl=http%3A%2F%2Feuro%2Dmed%2Edk%2F%3Fp%3D1277&feature=player_embedded
http://www.youtube.com/watch?v=Uv5cqh26CC0&eurl=http%3A%2F%2Feuro%2Dmed%2Edk%2F%3Fp%3D1277&feature=player_embedded
EXCELLENT EU REVIEW - WORLD REGIONS,GLOBAL CURRENCY
http://exposureroom.com/members/cybersilence.aspx/assets/d37a8ebc60694cc98173b8f32cfe898d/
EU-NEW SOVIET UNION
http://www.youtube.com/watch?v=bM2Ql3wOGcU&feature=player_embedded
http://www.youtube.com/watch?v=l6Cj1b-rp1E&feature=player_embedded
WORLD GOVERNMENT UNDER TREATYS-INTERNATIONAL LAW
http://en.wikipedia.org/wiki/World_government
TRANSATLANTIC POLICY
http://www.tpnonline.org/
JOAN VEON ON TAMAR YONAH 2008 (WORLD GOVERNMENT)
http://britanniaradio.blogspot.com/2009/07/we-are-already-under-global-government.html#links
UNDERSTANDING WORLD GOVERNMENT
http://www.womensgroup.org/
http://video.google.com/videoplay?docid=504526035342184251
BANK OF INTERNATIONAL SETTLEMENT PRESS
http://www.bis.org/events/agm2009/pcvideo.htm
HISTORY OF WAR AND THE FEDERAL RESERVE
http://video.google.com/videoplay?docid=1874212534444628577&hl=en
WELL THERES NO DOUBT THE NEW WORLD ORDER ONE WORLD GOVERNMENT IS ALMOST HERE AND NOW I KNOW FOR SURE OBAMA IS A FORERUNNER OF THE FUTURE EU WORLD DICTATOR.CHRISTIANS HAVE NO RIGHTS AND NO RIGHTS FOR ANYONE AS WELL AS FACIST GOVERNMENT CONTROL OF EVERYTHING BY OBAMA TO THE OFFSHORE BANKERS OR EU GOVERNMENT.I WOULD SAY COME QUICKLY LORD JESUS FOR US CHRISTIANS AT THE RAPTURE ANY SECOND NOW PLEASE AND THANK YOU.
WITCHCRAFT IN THE WHITE HOUSE
http://www.youtube.com/watch?v=AmaiX86sUoc&feature=related
http://www.youtube.com/watch?v=IF2eILED00s&feature=related
http://www.youtube.com/watch?v=ZARWvlz_yKI&feature=channel_page
http://www.youtube.com/watch?v=Sbh7KrUwawI&feature=channel
http://www.youtube.com/watch?v=4IG0tmvCozU&feature=channel
http://www.youtube.com/watch?v=NgP-SyrooKI&feature=channel
INSIDE THE LEGAL PROFESSION: DLA Piper to appoint Alan Solow vice chairman of its U.S. restructuring group,President Barack Obama is close friend of attorney, who is active in Jewish organizations APR 14,09Tribune reporter.
Lateral hiring has taken a back seat to layoffs at big law firms in the past six months. But some partner moves show that firms also are making strategic investments amid the recession.DLA Piper plans to announce Tuesday that Alan Solow will become vice chairman of its U.S. restructuring group. He joins the firm after 25 years at Goldberg Kohn, where he served on its management committee.Solow will help rebuild DLA's bankruptcy practice in Chicago with a focus on financial institutions, after the loss of a group to Neal, Gerber & Eisenberg.Solow, 54, is respected in Chicago's bankruptcy bar, but he is perhaps better known for his deep involvement in Jewish causes and being a close friend of President Barack Obama.Solow loves to tell a story from the campaign trail last fall. He attended the presidential candidates' debate in Oxford, Miss., in September, just before the Jewish New Year. Afterward, Solow e-mailed Obama to let him know he had been in the audience. Obama quickly responded:
Alan — Sorry I missed you. But I did see your precious new grandchild at my event in Chicago. Have a sweet holiday.Solow likes to joke that Obama is the first Jewish president because the response showed how much he understands Jewish people.It's not that he told me to have a sweet High Holiday,he said.It's that he told me he saw my precious new grandchild.Solow's connections are one of the reasons DLA went after him, sources said. In January he was elected chairman of the Conference of Presidents of Major American Jewish Organizations, the American Jewish community's most prominent voice in foreign and domestic policy issues. In that role, Solow has led delegations to meet with Pope Benedict XVI and Benjamin Netanyahu, Israel's new prime minister.In my civic and philanthropic work, I've shared experiences with many people in senior leadership positions in American business,he said.That creates relationships that often times lead to business.Bankruptcy law isn't the only practice thriving during the economic downturn. The recession has not stopped mergers among drug companies, and lawyers are gearing up for regulatory changes under the Obama administration.Monte Dube is leaving McDermott Will & Emery for Proskauer Rose. Dube, who once led McDermott's health-law department, focuses on hospital mergers and represents private-equity firms in health-care acquisitions.In addition, Jenner & Block said it will open a Los Angeles office, the first time it will hang its flag west of the Mississippi River. It recruited two partners from the Los Angeles office of Kirkland & Ellis, Rick Richmond and Brent Caslin, who specialize in commercial and intellectual-property disputes.Mayer Brown leadership: Partners will vote Thursday to confirm a new chairman as well as a new management structure that sweeps aside the existing three-person office of chairman and shrinks the management committee from 16 to seven partners. The proposal also would create a partnership board consisting of the chairman and 12 other partners. The firm declined further comment. Bert Krueger has been nominated as chairman to replace James Holzhauer, who announced his resignation last month.asachdev@tribune.com
Last update - 00:00 13/11/2008 Some Chicago Jews say Obama is actually the first Jewish president By Natasha Mozgovaya
Quite a few of Barack Obama's friends from the past have popped up recently. It's doubtful whether he even knows their names, but in the Chicago Jewish community many people really are long-time friends of the president-elect. Some of the older people in the community say that they raised him,while others half-jokingly call Obama the first Jewish president.They raised contributions for him, provided him with contacts, and also enjoyed hosting him and believed in his glorious future in politics. During most of the campaign, when rumors were spreading among American Jews that Obama was a closet Muslim who was more supportive of the Palestinians and was interested in granting the president of Iran legitimacy, his support among American Jews did not even come close to that enjoyed by Bill Clinton. But at the moment of truth, according to the exit polls, it turns out that 78 percent of Jews voted for Obama.
Members of the Chicago Jewish community are not surprised. They claim that the Jews simply discovered what they have known for years. Obama lives near the synagogue in the Hyde Park neighborhood of Chicago, an area with quite a large Jewish population. Some of area visitors may even mistake the heavy security presence on the street for the synagogue's location - that is, until they hear about Obama.Alan Solow, an attorney from Chicago, a leader of the Jewish community and a veteran Obama supporter, was one of the few who gained access to the president-elect after his speech in Chicago's Grant Park last week. After his speech on Tuesday night [election day] in front of hundreds of thousands people, he was the same Barack Obama I know. I think his life is going to change, but it won't change the type of person he is. Presidents tend to become isolated, but I'm confident he'll fight hard against it,he says.Solow used to live in Obama's neighborhood, and says that Obama has always had excellent relations with the Jewish community.As a local senator, he was very effective and helpful in what we call the Jewish agenda,the community issues, values. He has always had a deep understanding of Israel's need for security. I went with him to Israel for a week in January 2006, and when he started the race for the presidency I had no doubt I'd support him. The first thing that impressed me about him was his intellect - he's one of the smartest people I've met - but he's also a warm and caring person who has a keen interest in issues that people of this country are worried about,continues Solow. I said with a smile that he will be the first Jewish president. He also has a deep understanding of issues that confront Israel and the Jewish community. And I think his personal story reflects the story of Jewish immigration to the United States.He was raised in a family without any built-in advantages: His father was a stranger, but with the help of a close family and an emphasis on education and hard work, he succeeded. It's the Jewish story in America. He understands it, and that's why he's so close to the Jewish community. His first autobiography is about seeking his roots and he understands Jewish people's yearning for this - it fits into his world view and it's one of the reasons for his support of Israel. When he says that Israel's security is sacrosanct, I believe him. As I know him, he won't say things he doesn't really mean. And he has a lot of close Jewish friends who can confirm this.
Solow is also very familiar with Obama's first appointment - his designated White House chief of staff.Rahm is an active member of Jewish community, his children go to the day schools and he was always recognized as Jewish when he was Clinton's advisor. But I don't believe that the fact that he's a devoted Jew and supports Israel has anything to do with his appointment. He's simply the best person for this job, because of his experience in Congress and in Clinton's administration, and because of his intellect. But his support of Israel fits with the president-elect's thinking.
Michael Bauer, a political activist from the community who has known Obama for over a decade and supported his presidential campaign, says his first reaction to Obama's victory was disbelief.It seemed like a dream. After the election, I had a brief opportunity to congratulate him, to exchange a hug with Barack, a kiss with Michelle. We're very proud of him and we're sure he'll successfully handle the big challenges facing the country and the new president,he says.If we go back to his work as a State senator, his Senate district had a relatively high percentage of Jews, and more importantly, it was a Jewish population involved both politically and with charity organizations. When he was in the State Senate, the Democrats were a minority. When you're a minority you don't get too much accomplished. Neither Barack as a State Senator nor any of his colleagues were able to accomplish a great deal, because of Republican control of the State Senate. However, because of his district, it was always clear to me that many people supporting Barack are active in the Jewish community both locally and nationally. And they agreed about his sensitivity to a number of issues - the issue of the U.S-Israel relationship and domestically, issues that many of us are concerned about, be it the separation of Church and State, women's right to choose, etc. It was always a natural fit between the Jewish community and Barack Obama. He understands those issues. Frankly, he's so smart he understands them better than most of us,says Bauer.
Identifying with Sderot
As a U.S. senator he visited Israel twice, and especially the second time I think was highly significant,Bauer continues.I think it was important to him personally to go to Sderot and see the proximity involved when Israel is attacked on a daily basis from Gaza. I think it was also symbolic for the people of Israel and the worldwide community, as well as the Jewish community, to see Barack Obama going to Sderot and speaking about it, that as president it will be unacceptable to him and he recognizes Israel's right to defend itself. This symbolism was important on so many different levels. I've known the president-elect for over 10 years, and his values and principles never change. If you ask me whether I have confidence that he'll continue to be committed to Israel's existence as a Jewish state within secure borders - I have absolutely no doubt.President Bush supported Israel as well, but after eight years of his support Israel faces a stronger Iran, Hezbollah at the northern border, Hamas at the southern border - and Hamas gained a sort of political legitimacy. I think George Bush was a disaster for the State of Israel. And I think Obama's administration understands Israel's needs for safety and security, the importance of Israel remaining a Jewish state, and will try to help to mediate a peace in the Middle East that accomplishes those goals. There are still people who don't believe it, but the great thing in democracy is that everyone has an opinion and you don't need 100 percent consensus. I think peace in the Middle East is one of his highest priorities - he's not going to wait for seven years as a president to start working on it.Bauer was also heavily involved in Rahm Emanuel's campaign for Congress. Let me say something about Rahm. One of the things people don't like about him is the fact he's short with people, but it's only because he's such a smart person. He doesn't need a 15-minute phone conversation, he gets to the issues in three minutes. And Israel - it's in his blood. The fact that Joe Biden, with a long record of supporting Israel, is Obama's vice president-elect and Rahm Emanuel is his chief of staff - I'm not sure what reassurance anyone needs that the president-elect when he is president will remain a close ally of the State of Israel and the people of Israel.
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/
HALF HOUR DOW RESULTS WED AUGUST 19,2009
09:30 AM -5.55
10:00 AM -9.92
10:30 AM -36.50
11:00 AM -23.20
11:30 AM -23.45
12:00 PM +56.31
12:30 PM +69.08
01:00 PM +73.16
01:30 PM +86.99
02:00 PM +79.96
02:30 PM +73.54
03:00 PM +66.21
03:30 PM +49.43
04:00 PM +61.22 9279.16
S&P 500 996.46 +6.79
NASDAQ 1969.24 +13.32
GOLD 943.20 +4.00
OIL 72.21 +3.02
TSE 300 10,685.83 +11.99
CDNX 1176.95 +10.45
S&P/TSX/60 643.46 +1.56
MORNING,NEWS,STATS
YEAR TO DATE PERFORMANCE
Dow +5.03%
S&P +9.57%
Nasdaq +24.03%
TSX Advances 1,021,declines 475,unchanged 231,Volume 372,532,220.
TSX Venture Exchange Advances 424,Declines 375,Unchanged 330,Volume 220,477,635.
Dow -79 points at 4 minutes of trading today.
Dow -83 points at low today.
Dow +75 points at high today so far.
GOLD opens at $936.80.OIL opens at $68.57 today.
INVENTORIES
CRUDE OIL -8.4 MILLION BARRELS.
GASOLINE -2.1 MILLION BARRELS.
DISTILLATE -700,000 BARRELS.
REFINERY UTILIZATION +0.5% TO 84.0%
AFTERNOON,NEWS,STATS
Dow -83 points at low today so far.
Dow +75 points at high today so far.
DAY TODAY PERFORMANCE - 12:30PM STATS
NYSE Advances 1,827,declines 1,688,unchanged 135,New Highs 35,New Lows 32.
Volume 2,269,571,901.
NASDAQ Advances 1,315,declines 1,209,unchanged 141,New highs 13,New Lows 11.
Volume 858,484,609.
TSX Advances 528,declines 696,unchanged 219,Volume 195,473,616.
TSX Venture Exchange Advances 245,Declines 305,Unchanged 224,Volume 92,514,804.
SKYROCKETING TODAY
GOLD $945.50 +$6.50
OIL $71.77 +$2.56 AS OF 1PM
WRAPUP,NEWS,STATS
Dow -86 points at low today.
Dow +105 points at high today.
Dow +0.66% today Volume 176,852,758.
Nasdaq +0.68% today Volume 1,895,039,991.
S&P 500 +0.69% today Volume N/A
ROGERS ABOLISH,IMF-WORLD BANK
http://www.youtube.com/watch?v=xxOyLrHRMHg
http://www.veoh.com/browse/videos/category/educational/watch/v7054416EY8qk6Mb#
http://www.veoh.com/browse/videos/category/educational/watch/v7054416EY8qk6Mb#watch%3Dv3128810Se7zhAn6
IMF-WORLD BANK BEATDOWN
http://www.youtube.com/watch?v=mVXcesSQZQQ
http://www.youtube.com/watch?v=_xgxCf05Kmw&feature=player_embedded
http://www.youtube.com/watch?v=DrynBzUpyag&feature=player_embedded
http://www.ustream.tv/recorded/1121573
WORLD BANK GLOBAL MONITERING REPORT
http://issuu.com/world.bank.publications/docs/9780821378595?mode=embed&documentId=090506203356-3c5c24bdc8f14f55acba6398ddaa13f3&layout=grey
GEORGE HUNT-WORLD BANK ,RELIGION&RULERS(MUST SEE BY ALL,HAPPENING RIGHT NOW)
http://www.youtube.com/watch?v=8OvpjRglW9U&feature=related
http://www.youtube.com/watch?v=lFnxNowaaIU&feature=related
http://www.youtube.com/watch?v=584x0zkmHgw&feature=related
http://www.youtube.com/watch?v=zsZvQcZ9Mu4&feature=related
http://www.youtube.com/watch?v=hGl3DHrVMFY&feature=related
http://www.youtube.com/watch?v=Kg90X7OkEsU&feature=related
AN INSIDE VIEW OF INTERNATIONAL BANKING
http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoid=36666041
WORLD WILDERNESS CONGRESS
http://en.wikipedia.org/wiki/World_Wilderness_Congress
MILLENIUM SEED BANK
http://www.kew.org/msbp/index.htm
The Millennium Seed Bank Project (MSBP) International Programme
Volume 1 Number 1 - July 2004 Steve Alton
The Millennium Seed Bank Project (MSBP) International Programme is a nine year global conservation programme (2001-2010), conceived, developed and managed by the Seed Conservation Department at the Royal Botanic Gardens, Kew (RBG, Kew).The two principal aims of the Programme are to: collect and conserve 10% of the world’s seed-bearing flora (some 24,000 species), principally from the drylands, by the year 2010
develop bilateral research, training and capacity-building relationships worldwide in order to support and to advance the seed conservation effort.The drylands cover a third of the Earth’s land surface, including many of the world’s poorest countries, and support almost one fifth of its population. The most immediate threat to dryland areas is desertification due to intensive human settlement in areas subject to drought. This concern is reflected in the Convention on Biological Diversity’s drylands work programme, and in the establishment of the Convention to Combat Desertification (CCD).One of the most important aspects of the MSBP is that, through its bilateral agreements and support of partner institutions, it ensures duplication of conserved seed collections at facilities all over the world, at the same time providing capital input, training and technical expertise for seed banking activities. Where agreements allow and quantities are sufficient, the germplasm stored in the Millennium Seed Bank and the other banks worldwide will be made available to the world scientific and plant conservation communities, and the Project will become a world focal point for ex situ conservation research. The MSBP International Programme partners include institutions in Australia, Botswana, Burkina Faso, Chile, Egypt, Jordan, Kenya, Lebanon, Madagascar, Mali, Malawi, Mexico, Namibia, Saudi Arabia, South Africa and the USA. These collaborations have as their basis the precepts of the CBD, respecting national sovereignty and supporting national biodiversity conservation strategies. Benefit-sharing, in the form of duplicate seed storage, data exchange, technology transfer and training are all essential components of the Programme, and will help to ensure the long term sustainability of the Programme after 2010.
Collecting work has also been carried out closer to home. In the UK, around 97% of native higher plant species are now represented in the Millennium Seed Bank. This includes 88% of UK species ascribed to an IUCN Threat Category. Of these, 28% are considered to have total or adequate site coverage.In addition to the major partnerships above, the MSBP is actively pursuing collaborations with a range of other organisations engaged in wild-species seed conservation. One such initiative is the formation of a network of European Seed Banks, which seeks to share expertise and facilities, co-ordinate the setting of priorities and therefore avoid duplication of effort across continental Europe. To support this work, funding has been secured under the European Commission’s 6th Framework Programme for Research, Technical Development and Demonstration. These initiatives are important steps along the path to achieving Target 8, the ex situ conservation target of the Global Strategy for Plant Conservation, but more is needed. To this end, the UK Programme is being extended to cover the UK’s Overseas Territories, with funding from the Foreign and Commonwealth Office. In addition, the Millennium Seed Bank is keen to encourage the use of its state-of-the-art facilities by any organisation seeking long-term storage of seed material. Universities, NGOs, botanic gardens and government departments are encouraged to make use of the Millennium Seed Bank, either as the primary repository of ex situ material, or as a back-up for their own storage facilities. Donated seed samples can either be made available for research or conservation work through the Index Seminum system, or held for the sole use of the donors. Detailed information on initial viability can be provided, and samples of the material can be repatriated along with passport data and germination instructions. There are also opportunities for collaborative research, training and joint fieldwork.
The Seeds for Life Project (SfLP) in Kenya
In Kenya, five institutions, the Forestry Department (FD), National Genebank of Kenya (GBK) through Kenya Agricultural Research Institute (KARI), the Kenya Forestry Research Institute (KEFRI), Kenya Wildlife Service (KWS) and the National Museums of Kenya (NMK) are working with RBG, Kew to strengthen the national capacity to store native seed. As well as strengthening the national institutions, the medium to long term objective is to ensure that this capacity is passed on to local communities, in particular to support on-farm utilisation of indigenous species. This project, the Seeds for Life Project (SfLP) has allowed the five partners to develop a harmonised 'best practise protocol' for collection and handling of plant genetic resources for long-term storage.
Joint research and continuing training programmes are central to the project.
Kenyans have undertaken research attachments at the Wellcome Trust Millennium Building at Wakehurst Place (site of the MSB). Research topics have included studies on the germination and storage of both Kenyan orchid seeds and African tree seeds, and data management issues. On-going collaborative research includes research on the suitability of locally available storage containers. These participants have contributed to the development and delivery of an undergraduate diploma course in seed conservation techniques at Maseno University. The three Kenyans who participated in the 2001 Kew Plant Conservation Techniques Diploma course developed projects on a community-based element to the SfLP, a standard operating procedure for X-ray examination of seed at KEFRI and the SfLP species prioritisation list for their assignments.Kenyans have undertaken technical training attachments at the Wellcome Trust Millennium Building which have covered all aspects of seed processing and banking. The training has facilitated the entry of these technicians onto the diploma course at Maseno University in Kenya. Six in-country workshops have been run, on subjects including seed collecting, data and documentation, species prioritisation, project development and the science programme; these have been led by Kenyan experts, sometimes following research or training attachments at the Wellcome Trust Millennium Building.The SfLP has supported postgraduate and undergraduates studies which includes the course at Maseno University.
Ex situ Conservation of Endemic, Vulnerable and Endangered Plant Species from Desert and Mediterranean Zones of Chile.
In Chile, The Instituto de Investigaciones Agropecuarias (INIA) is working with Kew to implement a project on ex situ conservation of endemic, vulnerable and endangered plant species from desert and mediterranean zones of Chile. Collecting, joint research and a continuing training programme are central to the project, which will seeks additional academic and technical partnerships throughout central and northern Chile as it develops.The project leader, Dr Pedro León, has been discussing with Chilean colleagues ways in which they can participate in the project, for example by contributing data and joining collecting missions. A seed collecting techniques training course was held in March 2002, attended by scientists from 13 different institutes.The Chilean fieldwork team is initially concentrating on threatened geophytes and later attention will move to endangered tree and shrub species from central Chile. For these species, research is required into seed storage behaviour. In addition, Kew and INIA will jointly work to gather appropriate information about the Chilean dryland flora. The project database will include information on the biology and ecology of native species, specially focused on information related to seed and fruit characteristics, germination, dispersal and pollination. Collecting expeditions take place principally between November and April each year. Targeting of species for conservation is helped by access to the specimen data held at the Universidad de la Serena, Museo Nacional, and Unviersidad de Conceptión (Flora of Chile database).The project's seed research forms part of the regional CEAZA (Centro de Estudios Avanzados en Zonas Áridas, Chile) project investigating the effect of the El Niño southern oscillation (ENSO) on the adaptation of the flora and fauna.
The IMF and the World Bank How Do They Differ?
David D. Driscoll
If you have difficulty distinguishing the World Bank from the International Monetary Fund, you are not alone. Most people have only the vaguest idea of what these institutions do, and very few people indeed could, if pressed on the point, say why and how they differ. Even John Maynard Keynes, a founding father of the two institutions and considered by many the most brilliant economist of the twentieth century, admitted at the inaugural meeting of the International Monetary Fund that he was confused by the names: he thought the Fund should be called a bank, and the Bank should be called a fund. Confusion has reigned ever since.Known collectively as the Bretton Woods Institutions after the remote village in New Hampshire, U.S.A., where they were founded by the delegates of 44 nations in July 1944, the Bank and the IMF are twin intergovernmental pillars supporting the structure of the world's economic and financial order. That there are two pillars rather than one is no accident. The international community was consciously trying to establish a division of labor in setting up the two agencies. Those who deal professionally with the IMF and Bank find them categorically distinct. To the rest of the world, the niceties of the division of labor are even more mysterious than are the activities of the two institutions.
Similarities between them do little to resolve the confusion. Superficially the Bank and IMF exhibit many common characteristics. Both are in a sense owned and directed by the governments of member nations. The People's Republic of China, by far the most populous state on earth, is a member, as is the world's largest industrial power (the United States). In fact, virtually every country on earth is a member of both institutions. Both institutions concern themselves with economic issues and concentrate their efforts on broadening and strengthening the economies of their member nations. Staff members of both the Bank and IMF often appear at international conferences, speaking the same recondite language of the economics and development professions, or are reported in the media to be negotiating involved and somewhat mystifying programs of economic adjustment with ministers of finance or other government officials. The two institutions hold joint annual meetings, which the news media cover extensively. Both have headquarters in Washington, D.C., where popular confusion over what they do and how they differ is about as pronounced as everywhere else. For many years both occupied the same building and even now, though located on opposite sides of a street very near the White House, they share a common library and other facilities, regularly exchange economic data, sometimes present joint seminars, daily hold informal meetings, and occasionally send out joint missions to member countries.Despite these and other similarities, however, the Bank and the IMF remain distinct. The fundamental difference is this: the Bank is primarily a development institution; the IMF is a cooperative institution that seeks to maintain an orderly system of payments and receipts between nations. Each has a different purpose, a distinct structure, receives its funding from different sources, assists different categories of members, and strives to achieve distinct goals through methods peculiar to itself.
Purposes
At Bretton Woods the international community assigned to the World Bank the aims implied in its formal name, the International Bank for Reconstruction and Development (IBRD), giving it primary responsibility for financing economic development. The Bank's first loans were extended during the late 1940s to finance the reconstruction of the war-ravaged economies of Western Europe. When these nations recovered some measure of economic self-sufficiency, the Bank turned its attention to assisting the world's poorer nations, known as developing countries, to which it has since the 1940s loaned more than $330 billion. The World Bank has one central purpose: to promote economic and social progress in developing countries by helping to raise productivity so that their people may live a better and fuller life.The international community assigned to the IMF a different purpose. In establishing the IMF, the world community was reacting to the unresolved financial problems instrumental in initiating and protracting the Great Depression of the 1930s: sudden, unpredictable variations in the exchange values of national currencies and a widespread disinclination among governments to allow their national currency to be exchanged for foreign currency. Set up as a voluntary and cooperative institution, the IMF attracts to its membership nations that are prepared, in a spirit of enlightened self-interest, to relinquish some measure of national sovereignty by abjuring practices injurious to the economic well-being of their fellow member nations. The rules of the institution, contained in the IMF's Articles of Agreement signed by all members, constitute a code of conduct. The code is simple: it requires members to allow their currency to be exchanged for foreign currencies freely and without restriction, to keep the IMF informed of changes they contemplate in financial and monetary policies that will affect fellow members' economies, and, to the extent possible, to modify these policies on the advice of the IMF to accommodate the needs of the entire membership. To help nations abide by the code of conduct, the IMF administers a pool of money from which members can borrow when they are in trouble. The IMF is not, however, primarily a lending institution as is the Bank. It is first and foremost an overseer of its members' monetary and exchange rate policies and a guardian of the code of conduct. Philosophically committed to the orderly and stable growth of the world economy, the IMF is an enemy of surprise. It receives frequent reports on members' economic policies and prospects, which it debates, comments on, and communicates to the entire membership so that other members may respond in full knowledge of the facts and a clear understanding of how their own domestic policies may affect other countries. The IMF is convinced that a fundamental condition for international prosperity is an orderly monetary system that will encourage trade, create jobs, expand economic activity, and raise living standards throughout the world. By its constitution the IMF is required to oversee and maintain this system, no more and no less.
Size and Structure
The IMF is small (about 2,300 staff members) and, unlike the World Bank, has no affiliates or subsidiaries. Most of its staff members work at headquarters in Washington, D.C., although three small offices are maintained in Paris, Geneva, and at the United Nations in New York. Its professional staff members are for the most part economists and financial experts.The structure of the Bank is somewhat more complex. The World Bank itself comprises two major organizations: the International Bank for Reconstruction and Development and the International Development Association (IDA). Moreover, associated with, but legally and financially separate from the World Bank are the International Finance Corporation, which mobilizes funding for private enterprises in developing countries, the International Center for Settlement of Investment Disputes, and the Multilateral Guarantee Agency. With over 7,000 staff members, the World Bank Group is about three times as large as the IMF, and maintains about 40 offices throughout the world, although 95 percent of its staff work at its Washington, D.C., headquarters. The Bank employs a staff with an astonishing range of expertise: economists, engineers, urban planners, agronomists, statisticians, lawyers, portfolio managers, loan officers, project appraisers, as well as experts in telecommunications, water supply and sewerage, transportation, education, energy, rural development, population and health care, and other disciplines.
Source of Funding
The World Bank is an investment bank, intermediating between investors and recipients, borrowing from the one and lending to the other. Its owners are the governments of its 180 member nations with equity shares in the Bank, which were valued at about $176 billion in June 1995. The IBRD obtains most of the funds it lends to finance development by market borrowing through the issue of bonds (which carry an AAA rating because repayment is guaranteed by member governments) to individuals and private institutions in more than 100 countries. Its concessional loan associate, IDA, is largely financed by grants from donor nations. The Bank is a major borrower in the world's capital markets and the largest nonresident borrower in virtually all countries where its issues are sold. It also borrows money by selling bonds and notes directly to governments, their agencies, and central banks. The proceeds of these bond sales are lent in turn to developing countries at affordable rates of interest to help finance projects and policy reform programs that give promise of success.Despite Lord Keynes's profession of confusion, the IMF is not a bank and does not intermediate between investors and recipients. Nevertheless, it has at its disposal significant resources, presently valued at over $215 billion. These resources come from quota subscriptions, or membership fees, paid in by the IMF's 182 member countries. Each member contributes to this pool of resources a certain amount of money proportionate to its economic size and strength (richer countries pay more, poorer less). While the Bank borrows and lends, the IMF is more like a credit union whose members have access to a common pool of resources (the sum total of their individual contributions) to assist them in times of need. Although under special and highly restrictive circumstances the IMF borrows from official entities (but not from private markets), it relies principally on its quota subscriptions to finance its operations. The adequacy of these resources is reviewed every five years.
Recipients of Funding
Neither wealthy countries nor private individuals borrow from the World Bank, which lends only to creditworthy governments of developing nations. The poorer the country, the more favorable the conditions under which it can borrow from the Bank. Developing countries whose per capita gross national product (GNP) exceeds $1,305 may borrow from the IBRD. (Per capita GNP, a less formidable term than it sounds, is a measure of wealth, obtained by dividing the value of goods and services produced in a country during one year by the number of people in that country.) These loans carry an interest rate slightly above the market rate at which the Bank itself borrows and must generally be repaid within 12-15 years. The IDA, on the other hand, lends only to governments of very poor developing nations whose per capita GNP is below $1,305, and in practice IDA loans go to countries with annual per capita incomes below $865. IDA loans are interest free and have a maturity of 35 or 40 years.In contrast, all member nations, both wealthy and poor, have the right to financial assistance from the IMF. Maintaining an orderly and stable international monetary system requires all participants in that system to fulfill their financial obligations to other participants. Membership in the IMF gives to each country that experiences a shortage of foreign exchange--preventing it from fulfilling these obligations--temporary access to the IMF's pool of currencies to resolve this difficulty, usually referred to as a balance of payments problem. These problems are no respecter of economic size or level of per capita GNP, with the result that over the years almost all members of the IMF, from the smallest developing country to the largest industrial country, have at one time or other had recourse to the IMF and received from it financial assistance to tide them over difficult periods. Money received from the IMF must normally be repaid within three to five years, and in no case later than ten years. Interest rates are slightly below market rates, but are not so concessional as those assigned to the World Bank's IDA loans. Through the use of IMF resources, countries have been able to buy time to rectify economic policies and to restore growth without having to resort to actions damaging to other members' economies.
World Bank Operations
The World Bank exists to encourage poor countries to develop by providing them with technical assistance and funding for projects and policies that will realize the countries' economic potential. The Bank views development as a long-term, integrated endeavor.During the first two decades of its existence, two thirds of the assistance provided by the Bank went to electric power and transportation projects. Although these so-called infrastructure projects remain important, the Bank has diversified its activities in recent years as it has gained experience with and acquired new insights into the development process.The Bank gives particular attention to projects that can directly benefit the poorest people in developing countries. The direct involvement of the poorest in economic activity is being promoted through lending for agriculture and rural development, small-scale enterprises, and urban development. The Bank is helping the poor to be more productive and to gain access to such necessities as safe water and waste-disposal facilities, health care, family-planning assistance, nutrition, education, and housing. Within infrastructure projects there have also been changes. In transportation projects, greater attention is given to constructing farm-to-market roads. Rather than concentrating exclusively on cities, power projects increasingly provide lighting and power for villages and small farms. Industrial projects place greater emphasis on creating jobs in small enterprises. Labor-intensive construction is used where practical. In addition to electric power, the Bank is supporting development of oil, gas, coal, fuelwood, and biomass as alternative sources of energy.The Bank provides most of its financial and technical assistance to developing countries by supporting specific projects. Although IBRD loans and IDA credits are made on different financial terms, the two institutions use the same standards in assessing the soundness of projects. The decision whether a project will receive IBRD or IDA financing depends on the economic condition of the country and not on the characteristics of the project.
Its borrowing member countries also look to the Bank as a source of technical assistance. By far the largest element of Bank-financed technical assistance--running over $1 billion a year recently--is that financed as a component of Bank loans or credits extended for other purposes. But the amount of Bank-financed technical assistance for free-standing loans and to prepare projects has also increased. The Bank serves as executing agency for technical assistance projects financed by the United Nations Development Program in agriculture and rural development, energy, and economic planning. In response to the economic climate in many of its member countries, the Bank is now emphasizing technical assistance for institutional development and macroeconomic policy formulation.Every project supported by the Bank is designed in close collaboration with national governments and local agencies, and often in cooperation with other multilateral assistance organizations. Indeed, about half of all Bank-assisted projects also receive cofinancing from official sources, that is, governments, multilateral financial institutions, and export-credit agencies that directly finance the procurement of goods and services, and from private sources, such as commercial banks. In making loans to developing countries, the Bank does not compete with other sources of finance. It assists only those projects for which the required capital is not available from other sources on reasonable terms. Through its work, the Bank seeks to strengthen the economies of borrowing nations so that they can graduate from reliance on Bank resources and meet their financial needs, on terms they can afford directly from conventional sources of capital.The range of the Bank's activities is far broader than its lending operations. Since the Bank's lending decisions depend heavily on the economic condition of the borrowing country, the Bank carefully studies its economy and the needs of the sectors for which lending is contemplated. These analyses help in formulating an appropriate long-term development assistance strategy for the economy. Graduation from the IBRD and IDA has occurred for many years. Of the 34 very poor countries that borrowed money from IDA during the earliest years, more than two dozen have made enough progress for them no longer to need IDA money, leaving that money available to other countries that joined the Bank more recently. Similarly, about 20 countries that formerly borrowed money from the IBRD no longer have to do so. An outstanding example is Japan. For a period of 14 years, it borrowed from the IBRD. Now, the IBRD borrows large sums in Japan.
IMF Operations
The IMF has gone through two distinct phases in its 50-year history. During the first phase, ending in 1973, the IMF oversaw the adoption of general convertibility among the major currencies, supervised a system of fixed exchange rates tied to the value of gold, and provided short-term financing to countries in need of a quick infusion of foreign exchange to keep their currencies at par value or to adjust to changing economic circumstances. Difficulties encountered in maintaining a system of fixed exchange rates gave rise to unstable monetary and financial conditions throughout the world and led the international community to reconsider how the IMF could most effectively function in a regime of flexible exchange rates. After five years of analysis and negotiation (1973-78), the IMF's second phase began with the amendment of its constitution in 1978, broadening its functions to enable it to grapple with the challenges that have arisen since the collapse of the par value system. These functions are three.First, the IMF continues to urge its members to allow their national currencies to be exchanged without restriction for the currencies of other member countries. As of May 1996, 115 members had agreed to full convertibility of their national currencies. Second, in place of monitoring members' compliance with their obligations in a fixed exchange system, the IMF supervises economic policies that influence their balance of payments in the presently legalized flexible exchange rate environment. This supervision provides opportunities for an early warning of any exchange rate or balance of payments problem. In this, the IMF's role is principally advisory. It confers at regular intervals (usually once a year) with its members, analyzing their economic positions and apprising them of actual or potential problems arising from their policies, and keeps the entire membership informed of these developments. Third, the IMF continues to provide short- and medium-term financial assistance to member nations that run into temporary balance of payments difficulties. The financial assistance usually involves the provision by the IMF of convertible currencies to augment the afflicted member's dwindling foreign exchange reserves, but only in return for the government's promise to reform the economic policies that caused the balance of payments problem in the first place. The IMF sees its financial role in these cases not as subsidizing further deficits but as easing a country's painful transition to living within its means.How in practice does the IMF assist its members? The key opening the door to IMF assistance is the member's balance of payments, the tally of its payments and receipts with other nations. Foreign payments should be in rough balance: a country ideally should take in just about what it pays out. When financial problems cause the price of a member's currency and the price of its goods to fall out of line, balance of payments difficulties are sure to follow. If this happens, the member country may, by virtue of the Articles of Agreement, apply to the IMF for assistance.To illustrate, let us take the example of a small country whose economy is based on agriculture. For convenience in trade, the government of such a country generally pegs the domestic currency to a convertible currency: so many units of domestic money to a U.S. dollar or French franc. Unless the exchange rate is adjusted from time to time to take account of changes in relative prices, the domestic currency will tend to become overvalued, with an exchange rate, say, of one unit of domestic currency to one U.S. dollar, when relative prices might suggest that two units to one dollar is more realistic. Governments, however, often succumb to the temptation to tolerate overvaluation, because an overvalued currency makes imports cheaper than they would be if the currency were correctly priced.
The other side of the coin, unfortunately, is that overvaluation makes the country's exports more expensive and hence less attractive to foreign buyers. If the currency is thus overvalued, the country will eventually experience a fall-off in export earnings (exports are too expensive) and a rise in import expenditures (imports are apparently cheap and are bought on credit). In effect, the country is earning less, spending more, and going into debt, a predicament as unsustainable for a country as it is for any of us. Moreover, this situation is usually attended by a host of other economic ills for the country. Finding a diminished market for their export crops and receiving low prices from the government marketing board for produce consumed domestically, farmers either resort to illegal black market exports or lose the incentive to produce. Many of them abandon the farm to seek employment in overcrowded cities, where they become part of larger social and economic problems. Declining domestic agricultural productivity forces the government to use scarce foreign exchange reserves (scarce because export earnings are down) to buy food from abroad. The balance of payments becomes dangerously distorted.As an IMF member, a country finding itself in this bind can turn to the IMF for consultative and financial assistance. In a collaborative effort, the country and the IMF can attempt to root out the causes of the payments imbalance by working out a comprehensive program that, depending on the particulars of the case, might include raising producer prices paid to farmers so as to encourage agricultural production and reverse migration to the cities, lowering interest rates to expand the supply of credit, and adjusting the currency to reflect the level of world prices, thereby discouraging imports and raising the competitiveness of exports. Because reorganizing the economy to implement these reforms is disruptive and not without cost, the IMF will lend money to subsidize policy reforms during the period of transition. To ensure that this money is put to the most productive uses, the IMF closely monitors the country's economic progress during this time, providing technical assistance and further consultative services as needed.In addition to assisting its members in this way, the IMF also helps by providing technical assistance in organizing central banks, establishing and reforming tax systems, and setting up agencies to gather and publish economic statistics. The IMF is also authorized to issue a special type of money, called the SDR, to provide its members with additional liquidity. Known technically as a fiduciary asset, the SDR can be retained by members as part of their monetary reserves or be used in place of national currencies in transactions with other members. To date the IMF has issued slightly over 21.4 billion SDRs, presently valued at about U.S. $30 billion.
Over the past few years, in response to an emerging interest by the world community to return to a more stable system of exchange rates that would reduce the present fluctuations in the values of currencies, the IMF has been strengthening its supervision of members' economic policies. Provisions exist in its Articles of Agreement that would allow the IMF to adopt a more active role, should the world community decide on stricter management of flexible exchange rates or even on a return to some system of stable exchange rates.Measuring the success of the IMF's operations over the years is not easy, for much of the IMF's work consists in averting financial crises or in preventing their becoming worse. Most observers feel that merely to have contained the debt crisis of the 1980s, which posed the risk of collapse in the world's financial system, must be counted a success for the IMF. The Fund has also gained some recognition for assisting in setting up market-based economies in the countries of the former Soviet Union and for responding swiftly to the Mexican peso crisis in 1994, but its main contribution lies in its unobrusive, day-to-day encouragement of confidence in the international system. Nowhere will you find a bridge or a hospital built by the IMF, but the next time you buy a Japanese camera or drive a foreign car, or without difficulty exchange dollars or pounds for another currency while on holiday, you will be benefiting from the vast increase in foreign trade over the past 50 years and the widespread currency convertibility that would have been unimaginable without the world monetary system that the IMF was created to maintain.
Cooperation Between Bank and IMF
Although the Bank and IMF are distinct entities, they work together in close cooperation. This cooperation, present since their founding, has become more pronounced since the 1970s. Since then the Bank's activities have increasingly reflected the realization that the pace of economic and social development accelerates only when sound underlying financial and economic policies are in place. The IMF has also recognized that unsound financial and economic policies are often deeply rooted in long-term inefficient use of resources that resists eradication through short-term adaptations of financial policies. It does little good for the Bank to develop a long-term irrigation project to assist, say, the export of cotton, if the country's balance of payments position is so chaotic that no foreign buyers will deal with the country. On the other hand, it does little good for the IMF to help establish a sound exchange rate for a country's currency, unless the production of cotton for export will suffice to sustain that exchange rate over the medium to long term. The key to solving these problems is seen in restructuring economic sectors so that the economic potential of projects might be realized throughout the economy and the stability of the economy might enhance the effectiveness of the individual project.Around 75 percent of the Bank's lending is applied to specific projects dealing with roads, dams, power stations, agriculture, and industry. As the global economy became mired in recession in the early 1980s, the Bank expanded the scope of its lending operations to include structural- and sector-adjustment loans. These help developing countries adjust their economic policies and structures in the face of serious balance of payments problems that threaten continued development. The main objective of structural-adjustment lending is to restructure a developing country's economy as the best basis for sustained economic growth. Loans support programs that are intended to anticipate and avert economic crises through economic reforms and changes in investment priorities. By using so-called policy-based lending, the Bank stimulates economic growth in heavily indebted countries--particularly in Latin America and in sub-Saharan Africa--that are undertaking, often at much social pain, far-reaching programs of economic adjustment.In addition to its traditional function as provider of short-term balance of payments assistance, the advent of the oil crisis in the mid-1970s and the debt crisis in the early 1980s induced the IMF, too, to rethink its policy of restricting its financial assistance to short-term lending. As balance of payments shortfalls grew larger and longer-term structural reforms in members' economies were called for to eliminate these shortfalls, the IMF enlarged the amount of financial assistance it provides and lengthened the period within which its financial assistance would be available. In doing so, the IMF implicitly recognizes that balance of payments problems arise not only from a temporary lack of liquidity and inadequate financial and budgetary policies but also from long-standing contradictions in the structure of members' economies, requiring reforms stretching over a number of years and suggesting closer collaboration with the World Bank, which commands both the expertise and experience to deal with protracted structural impediments to growth. Focusing on structural reform in recent years has resulted in considerable convergence in the efforts of the Bank and IMF and has led them to greater reliance on each other's special expertise. This convergence has been hastened by the debt crisis, brought on by the inability of developing countries to repay the enormous loans they contracted during the late 1970s and early 1980s. The debt crisis has emphasized that economic growth can be sustained only when resources are being used efficiently and that resources can be used efficiently only in a stable monetary and financial environment.
The bedrock of cooperation between the Bank and IMF is the regular and frequent interaction of economists and loan officers who work on the same country. The Bank staff brings to this interchange a longer-term view of the slow process of development and a profound knowledge of the structural requirements and economic potential of a country. The IMF staff contributes its own perspective on the day-to-day capability of a country to sustain its flow of payments to creditors and to attract from them investment finance, as well as on how the country is integrated within the world economy. This interchange of information is backed up by a coordination of financial assistance to members. For instance, the Bank has been approving structural- or sector-adjustment loans for most of the countries that are taking advantage of financial assistance from the IMF. In addition, both institutions encourage other lenders, both private and official, to join with them in cofinancing projects and in mobilizing credits to countries that are in need. Cooperation between the Bretton Woods Institutions has two results: the identification of programs that will encourage growth in a stable economic environment and the coordination of financing that will ensure the success of these programs. Other lenders, particularly commercial banks, frequently make credits available only after seeing satisfactory performance by the borrowing country of its program of structural adjustment.
Cooperation between the Bank and the IMF has over the past decade been formalized with the establishment in the IMF of procedures to provide financing at below market rates to its poorest member countries. These procedures enable the IMF to make available up to $12 billion to those 70 or so poor member countries that adjust the structure of their economies to improve their balance of payment position and to foster growth. The Bank joins with the IMF in providing additional money for these countries from IDA. But what IDA can provide in financial resources is only a fraction of the world's minimum needs for concessional external finance. Happily, various governments and international agencies have responded positively to the Bank's special action program for low-income, debt-distressed countries of the region by pledging an extra $7 billion for cofinancing programs arranged by the Bank.
The Bank and the IMF have distinct mandates that allow them to contribute, each in its own way, to the stability of the international monetary and financial system and to the fostering of balanced economic growth throughout the entire membership. Since their founding 50 years ago, both institutions have been challenged by changing economic circumstances to develop new ways of assisting their membership. The Bank has expanded its assistance from an orientation toward projects to the broader aspects of economic reform. Simultaneously the IMF has gone beyond concern with simple balance of payment adjustment to interest itself in the structural reform of its members' economies. Some overlapping by both institutions has inevitably occurred, making cooperation between the Bank and the IMF crucial. Devising programs that will integrate members' economies more fully into the international monetary and financial system and at the same time encourage economic expansion continues to challenge the expertise of both Bretton Woods Institutions.
Sierra Leone Hosts African Bank Governors Conference,Written by John Baimba Sesay West Africa Bureau Chief Sierra Leone, West, West Africa Aug 10, 2009
Deputy Finance Minister Richard Conteh
500 cabinet ministers, finance experts, international partners (World Bank, IMF, etc.) from nearly all the sub-Saharan countries in Africa, and the Breton Woods institutions are to meet in Freetown between August 12 and August 13, 2009 as the Africa Caucus Group A Press Release issued by the Ministry of Information and Communication in Freetown states that African Ministers of Finance and Bank Governors formed the African Caucus following the Montere Convention in Mexico in 2002. The Caucus is composed of African countries that are also members of the World Bank and the IMF, especially those in sub-Saharan Africa whose economies are weak and characterized as Least Developed Countries.The rationale of this African Caucus is because in the annual meetings of the World Bank/IMF, African countries would be generally marginalized, and their concerns largely ignored. Also, because most African countries would hardly be able to meet their financial commitments to these Breton Woods institutions, they would not be represented in various committees where key policies are debated. In the face of such marginalization, the African countries have grouped together so that focus will be made to bear on the peculiar financial concerns of African countries vis-à-vis the rest of the world.The Minister of Finance and Economic Development of Sierra Leone, Dr. Samura Kamara, is expected to chair the meeting, by virtue of his position as Chair of the African Caucus for 2009 – 2010, after serving as Vice Chair during the preceding two years.
The group regularly meets to discuss the latest economic challenges facing Africa countries. An official at the Ministry of Finance and Economic Development believes that the hosting of the African Caucus meeting in Sierra Leone offers the country tremendous benefits; as it would be the biggest international finance meeting the country is hosting following the ends to its civil war in 2002.The 500 participants of the conference will help in showcasing Sierra Leone’s investments and tourist potentials as well as improve donor confidence and relations.The Minister Mineral Resources, Alhaji Alpha Kanu, is quoted by local media to have expressed that it is important for Sierra Leone to host the African Governors conference since he is of the conviction that it will help project the image of Sierra Leone.The government of President Ernest Bai Koroma, which came to power almost two years ago, was elected on the platform of change. In that line, there have been efforts aimed at rebranding the image of the country at the international front, and the hosting of this meeting in the next couple of days is seen as a major rebranding development.The meeting in Sierra Leone is expected to discuss common economic problems facing member states, and to specifically discuss financial and economic crisis in the context of Africa, and also to review various economic policies and reforms to meet current global trends says Edward King, Public Relations Officer for the Ministry of Finance.
Meanwhile, the Freetown City Council is flexing his muscle to ensure that the city is kept clean, a Herculean task during the rainy season, when heavy rainfall causes a lot of land erosion, and gathering of debris to clog the gutters of the city.The last conference of such magnitude held in the country was in 1982; when Sierra Leone hosted the Organization of African Unity (OAU) conference.
Business | August 19, 2009 IMF helps 22 countries build data centres
Martin Luther Oketch Kampala
The International Monetary Fund (IMF) has increased the number of Sub Saharan African countries it is helping to build a reliable statistics systems from 15 to 22. Better statistics is expected to help in the formulation, implementation, and monitoring of sound macroeconomic policies and in making of prudent investment decisions.The first phase of the project - based on the IMF’s General Data Dissemination System (GDDS) framework - was funded by the U.K. Department for International Development (Dfid). The $8 million three-year project, implemented jointly by the IMF and the World Bank, will be completed on September 30.The GDDS is a structured process through which IMF member countries voluntarily commit themselves to improve the quality of the data they produce.The GDDS constitutes the following statistical elements: data coverage, periodicity and timeliness relates to the production and dissemination of economic, financial and socio-demographic data by member countries; quality of the data which relates to information that is available to users to access the information covered by the system; integrity of the data relates to the confidence of the user community in the data produced by the statistical systems while access by the public relates to the dissemination of official statistics to users in a convenient and equitable manner.Statistics are the eyes and ears of any country’s development programmes because it guides policy makers in the country to plan and design better programmes, which show whether the country is making progress or there is a decline in a specific sector of the economy.
In the wake of the severe international financial crises that began in 1994, there was heightened awareness that the ready availability of comprehensive, reliable, and timely data would facilitate the formulation, implementation, and monitoring of sound macroeconomic policies and investment decisions, thereby reducing the frequency and moderating the severity of future crises,explains the IMF.The IMF further explains that the first phase which consisted of 15 countries based on the GDDS framework offered a natural opportunity for collaboration between the IMF and the World Bank, as it includes both macroeconomic and socio-demographic statistics. In order to implement the project effectively, the two institutions agreed at the beginning of the project to a common structure, format, management, and reporting system for the provision of technical assistance,says the IMF.
World emerges from recession, IMF claims ,It's official: the recovery has begun – although recovery will be unpredictable and protracted, according to the International Monetary Fund's chief economist. By Angela Monaghan Published: 10:36PM BST 18 Aug 2009
Emerging from the dark: the IMF's chief economist says the world is emerging from recession Photo: Reuters The recovery has started, claims Olivier Blanchard in a paper to be published by the IMF on Wednesday.Sustaining it will require delicate rebalancing acts, both within and across countries.He warned that recovery would be slow and complicated: The world is not in a run-of-the mill recession. The turnaround will not be simple. The crisis has left deep scars, which will affect both supply and demand for many years to come,he said.Inflation confounds expectations of a drop His comments followed the news on Monday that Japan became the latest major economy to return to growth in the second quarter, following a recovery in German and French GDP. The British economy shrank by 0.8pc in the second quarter according to the Office for National Statistics (ONS). Adam Posen, who will join the Bank of England's Monetary Policy Committee next month, conceded yesterday that the UK, along with the US, Italy and Spain, was lagging in economic recovery. He added he was surprised by news of recovery in Germany and France. Official figures released yesterday showed that inflation remained at 1.8pc in July for the second month in a row, close to the 2pc target. Economists had predicted a fall to 1.5pc. The figures underlined unexpected resilience to deflationary pressures,The ONS data suggested that the relative weakness of the pound was responsible, pushing up the price of imported goods and keeping inflation in positive territory despite the recession.
Charles Davis, economist at the Centre for Economics and Business Research, said:Part of this is due to the sterling depreciation which, despite gains over the last month, is significantly weaker than a year ago.It means the UK is the only one of the world's six biggest economies to avoid deflation. The pound rose more than
2 cents against the dollar after the inflation figures were published, closing at $1.653.In July, price rises in games, toys, and hobby-related items – which are largely imported – helped to keep inflation at 1.8pc, offsetting falls in food inflation. Kerri Maddock at Barclays Capital said that the trend should steer the economy away from the tail risk of outright deflation. Although falling prices provide some relief for struggling households during recession, a sustained period of deflation in the UK caused by weak demand would likely damage the economy further, prompting businesses to produce less and therefore shed jobs, leading to higher unemployment which would in turn hit spending even further. The continued strength of the CPI has taken the Bank of England by surprise. Governor Mervyn King said last week that despite the so-called stickiness shown by UK prices, the CPI rate was more likely than not to fall below 1pc in the coming months. Despite the figures, economists said that inflation should start to fall again in the coming months as the impact of the weaker pound fades, while electricity and gas bills fall, food inflation drops and the full disinflationary impact of the spare capacity in the economy feeds through.In a further surprise, the broader retail prices index (RPI), which also includes housing and mortgage costs, actually rose to -1.4pc in July from -1.6pc.
Africa eyes stronger representation in IMF, World Bank
(AFP) – AUG 13,09
FREETOWN — A seminar of financial decision-makers from Africa started Wednesday in Sierra Leone with a demand by President Ernest Koroma for stronger African representation in the World Bank and IMF.Koroma told some 37 finance ministers and 40 central bank governors gathered in Freetown that reforms aimed at improved representation are taking too long to come into effect in the executives.We are however gratified by the developments in the World Bank, especially the approval of the third chair for sub-Saharan Africa, Koroma said at the forum, attended by envoys from the International Monetary Fund (IMF), the World Bank and other financial institutions.The seminar is meeting under the theme, Global Crisis in Africa: responses, lessons learnt and the way forward.It has gathered financial experts to the west African country's capital for two days. Koroma argued that they should press for a third chair on the IMF Board and increase Africa's say in who was selected to manage the two global institutions.Apart from lobbying for greater African power within the IMF and the World Bank, Koroma addressed the concern of financing of the infrastructure deficit facing our countries and regions.Direct foreign investments, remittances and foreign exchange were also declining, he said.The seminar's facilitator, Deputy Financial Secretary Joseph Kanu, told AFP that delegates will on Thursday discuss the third chair at the World Bank and a memorandum to be presented to the heads of the IMF and World Bank at a meeting of the two institutions in Istanbul, Turkey in September.Kanu also said a G20 preparation summit for the Least Developed Countries will be held on Friday followed up with a London conference on August 17.
WB pitches tuition-caps removal Written by Cai U. Ordinario / Reporter
Tuesday, 18 August 2009 21:51
A NEW World Bank study on education is expected by many sources in the education sector to roil the field because it is recommending that all tuition caps, at least in all private schools, should be removed.The bank said this would encourage more private investments in the education system that this early, a source said, could give rise to charges of dividing the poor from the rich in such a desperately desired asset for the children of the not-so-well- off.But, the bank said, regulating the distribution of tuition and other fees among school owners or requiring schools to consult the government about any fee increases to make private education affordable for the poor or prevent price gouging can also have negative effects such as causing the quality of education to deteriorate and limiting the profitability of education investments.The study titled The Role and Impact of Public-Private Partnerships in Education argues that making high-quality education accessible for all in developing countries requires innovative programs and initiatives in addition to public resources and leadership such as allowing more private-sector players in education.
Governments can promote private involvement in education by allowing private schools to set their own tuition and other fees,the study said, and noted that Ghana, India, the Philippines and Vietnam limit the level of tuition and other fees charged by independent private schools—private schools that do not receive government subsidies.
The World Bank also said another problem occurs when tuition and other fee limits are not fully enforced. This further decreases the chance of the private sector investing in education because of the uncertainty this creates.The study believes that to improve the education system of developing countries like the Philippines, there is a need to deepen and create partnerships between the private sector and the government. This will be a reliable way of financing quality education and making it more accessible to the poor.There are ways in which the public and private sectors can join together to complement each others’ strengths in providing education services and helping developing countries meet the Millennium Development Goals for education and to improve learning outcomes,said Harry Anthony Patrinos, one of the authors of the study.
New Central Bank sales-agreement very gold-bullish
8/13/2009 1:27:41 PM | Jeff Nielson
When the central banks of Europe created this sales agreement, it was intended as a sales ceiling.[Editor’s note: the following article first appeared on the website Bullion Bulls Canada on August 7.]Europe's central banks jointly announced a new sales agreement to govern the gold they annually dump onto the market. They announced a 20% lower quota – down to 400 tons per year – despite the price of gold sitting only a couple of rallies away from a new, nominal record.The fact that these central banks are significantly reducing their gold sales despite the high price of gold can only be interpreted two ways. First, it could simply signify that these central banks have much less gold to sell, and thus will be steadily reducing their sales no matter how high the price of gold goes.The alternative interpretation would be that despite the near-record price, Europe's central banks expect the price of gold to go much higher – and thus don't want to give away their gold (as was done by U.K. Prime Minister Gordon Brown).In fact, both interpretations are correct. Even if we take the reported gold reserves of these central banks seriously (despite very good reasons to doubt those claims) Europe's central banks hold little more than 10,000 tons of gold, with about 40% of that amount held by Germany, alone. At the previous ceiling of 500 tons per year (or 5% of Europe's total gold holdings) Europe's central banks would have squandered all their gold reserves in 20 years.However, with Germany adamant that it won't sell any of its gold, in reality the previous agreement would have exhausted all of Europe's available gold – forever – in only about ten years. Even reducing this quota to 400 tons per year only extends the life of this game for a couple more years.
This was one of the reasons why the United States was so obsessed with getting the IMF to dump some of its gold. Ultimately, the suppression of the gold market is aimed at keeping the world's reserve currency stable (i.e. the U.S. dollar), and with it, all the other forms of worthless paper currency floating around in the world. In fact, the 400 tons of IMF gold that was finally approved for sale is being included within the sales quota of Europe's central banks (despite the fact this gold is owned by ALL of the world's nations).When the central banks of Europe originally created this sales agreement (with gold trading at about 1/3 its current value), it was intended as a sales ceiling. In other words, supposedly without such an agreement, these central banks would have dumped even more gold onto the market. However, the reality of this deal is that it was always a sales quota – a target which the U.S. pressured Europe to try to meet, to help fight the losing battle of suppressing the price of gold.For those new to the gold market, pushing down the price of gold has been an important element in Western economic policy for decades. Gold has always been the ultimate barometer of the global economy, because in a free market, changes in inflation would be almost instantly reflected in the gold price. Of course we don't have free markets – as evidenced by the Plunge Protection Team, whose full-time job is to manipulate U.S. markets on a daily basis.The reason that gold-suppression is so important is because lying about inflation is so important. Trillions of dollars per year in government transfer payments (i.e. social programs) are supposedly indexed to inflation, to continue to provide a level of benefits in real dollars. In reality, by lying about inflation governments can reduce the real value of those benefits, while the general population remains oblivious to how they are being cheated by their own governments.Gold (and silver) manipulation can be empirically demonstrated by simply looking at the huge (and grossly manipulative) short positions (in the U.S.s Comex futures market) which are many times larger than the long or short positions of any other commodities, in the history of the global economy. Naturally, the U.S. regulator (the Commodities Futures Trading Commission) is incapable of seeing any signs of manipulation.
However, we don't need any confirmation by the CFTC to demonstrate gold manipulation since it has been openly admitted by the world's most prominent bankers. Officials at the Bank for International Settlements (the world's bank for central banks) have openly acknowledged that stabilizing the price of gold is an official policy of this institution. Since stabilizing the price of gold never means pushing the price of gold up, you don't have to be an expert in linguistics to understand what is really being said.Sir Alan Greenspan was much less ambivalent. When asked how he would respond to a global monetary crisis, his famous reply was,We stand ready to lease gold in ever-increasing amounts. Leasing gold is a central bank synonym for dumping gold onto the market, since these bankers do not directly trade gold, but instead have private bankers do this for them.The only possible way that leasing gold can be considered a response to a global monetary crisis is if the primary function of these central bankers is merely to create an illusion of stability in the global monetary system.As I and many other gold-commentators have pointed out, the entire world is now operating with a fiat currency system (i.e. currencies backed by nothing) for the first time in human history. Every time that individual countries have experimented in fiat currencies, the results have been identical. Greedy bankers create too much money, and much too much debt, and these economic houses of cards financially implode in spectacular fashion.
Thus, the bankers themselves know that the current monetary system is doomed, and their primary function is to create an illusion of stability for as long as possible – before the inevitable implosion of this system. Proof of the pending collapse of this system is that aggregate debt levels have risen exponentially (exactly what happened with all other currency failures), to the point where some of the world's biggest debtors - notably the United States - are being forced to print money simply to pay the interest on trillions of dollars of debt. This is happening because the U.S. is no longer able to borrow enough from other counties to pay this interest.If we were to think of the U.S. as an individual, it is totally obvious what happens to a person who is so heavily indebted that they never pay off a penny of debt, and keep borrowing more and more money just to pay their interest: they go bankrupt.Thus, the losing battle to suppress the price of gold is precisely parallel to the losing efforts of this same group of corrupt bankers to keep their towering, teetering mountains of debt stable. These mountains will collapse into rubble, and their currencies will become worthless, as has been happening with fiat currencies for 2,000years, and (as always) the solution to this collapse will be to re-institute a system of currencies backed by gold and silver.The fact that central banks are running out of gold to use as “ammunition” to continue playing their game provides a finite maximum length of time this system could survive (roughly a decade). In reality, the game will be over long before those gold reserves reach zero.Regardless of U.S. pressure, one by one, Europe's central banks will simply refuse to dump any more of their own gold (following Germany's example). Indeed, Switzerland (who is one of Europe's largest gold-holders behind Germany) announced today it has no plans to sell any more of its gold.Just as the Manipulators could no longer meet the 500 tons per year quota of the old agreement (total sales this year will likely be below 400 tons), long before this new, five-year sales quota expires total gold sales will fall well below the target quota.
With demand for gold continuing to rise, and an important supply-source being reduced it becomes harder each day for the anti-gold cabal to hold the price of gold below its current equilibrium value (somewhere between $2000 and $5000 per ounce). Thus the failure of gold-manipulation – and the resultant explosion in the price of gold will be an important signal that collapse of the global monetary system is imminent.It goes without saying that the time to buy gold and silver is now, while 99% of the world remains oblivious to the inevitable collapse of the current monetary system. Buying a store of value with a 5,000 year track-record behind it, using soon-to-be-worthless paper is a bargain at any price.This article was written by a member of the Stockhouse community.To read more work by Jeff Nielson, visit Bullion Bulls Canada.
I WRITE NEWS ABOUT AND PUT NEWS ARTICLES ABOUT ISRAEL AND JERUSALEM PERTAINING TO BIBLE PROPHESY HAPPENINGS.JOEL 3:20 But Judah (ISRAEL) shall dwell for ever, and Jerusalem from generation to generation.(THATS ISRAEL-JERUSALEM WILL NEVER BE DESTROYED AGAIN)-WE CHRISTIANS ARE ALL WAITING PATIENTLY FOR THE PRE-TRIBULATION RAPTURE TO OCCUR.SO WE CAN GO TO JESUS AND GET OUR NEVER DYING BODIES.SO WE CAN RULE OVER CITIES OURSELVES.WHILE JESUS RULES FROM DAVIDS THRONE FOREVER IN JERUSALEM.
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Wednesday, August 19, 2009
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