PERES PEACE BEFORE SEPTEMBER POSSIBLE

DOUG AND LAURIE FRI'S 6-9 PM EST ABOUT THE ISSUES OF THE DAY
http://www.usaradio.com/listen_live_usa2.php
http://therothshow.com/show-archives/may-2011/
HAGMANN & HAGMANN-JUDI MCLEOD REPORT SAT'S 8-10PM ON BLOGTALK RADIO
http://www.blogtalkradio.com/cfp-radio

LAURIE ROTHS SITE
http://therothshow.com/
DOUG HAGMANNS SITES
http://homelandsecurityus.com/
https://hagmann-pi.com/Home.html
http://theneinblog.blogspot.com/
CANADA FREE PRESS-JUDI MCLEOD
http://www.canadafreepress.com/
OLIVE TREE MINISTRIES LATES SHOWS
http://olivetreeradio.com/OTM2011_06_11A.mp3
http://olivetreeradio.com/OTM2011_06_11B.mp3

WW3 THE 3 WAVES THAT MARCH TO ISRAEL
http://israndjer.blogspot.com/2005/11/questions-ww3-whats-coming.html (WW3 COMPLETE HAPPENINGS)

AMOS 9:10
10 All the sinners of my people shall die by the sword, which say, The evil shall not overtake nor prevent us.

DANIEL 11:40-45
40 And at the time of the end shall the king of the south( EGYPT) push at him:(EU DICTATOR IN ISRAEL) and the king of the north (RUSSIA AND MUSLIM HORDES OF EZEK 38+39) shall come against him like a whirlwind, with chariots, and with horsemen, and with many ships; and he shall enter into the countries, and shall overflow and pass over.
41 He shall enter also into the glorious land, and many countries shall be overthrown: but these shall escape out of his hand, even Edom, and Moab, and the chief of the children of Ammon.(JORDAN)
42 He shall stretch forth his hand also upon the countries: and the land of Egypt shall not escape.
43 But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: and the Libyans and the Ethiopians shall be at his steps.
44 But tidings out of the east(CHINA 2ND WAVE OF WW3) and out of the north(RUSSIA, MUSLIMS WHATS LEFT FROM WAVE 1) shall trouble him:(EU DICTATOR IN ISRAEL) therefore he shall go forth with great fury to destroy, and utterly to make away many.( 1/3RD OF EARTHS POPULATION)
45 And he shall plant the tabernacles of his palace between the seas in the glorious holy mountain; yet he shall come to his end, and none shall help him.

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

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

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

REVELATION 16:12
12 And the sixth angel poured out his vial upon the great river Euphrates; and the water thereof was dried up, that the way of the kings of the east might be prepared.(THIS IS THE ATATURK DAM IN TURKEY,THEY CROSS OVER).

DANIEL 11:44 (2ND WAVE OF WW3)
44 But tidings out of the east(CHINA) and out of the north(RUSSIA, MUSLIMS WHATS LEFT FROM WAVE 1) shall trouble him:(EU DICTATOR IN ISRAEL) therefore he shall go forth with great fury to destroy, and utterly to make away many.( 1/3RD OF EARTHS POPULATION)

REVELATION 9:12-18
12 One woe is past; and, behold, there come two woes more hereafter.
13 And the sixth angel sounded, and I heard a voice from the four horns of the golden altar which is before God,
14 Saying to the sixth angel which had the trumpet, Loose the four angels which are bound in the great river Euphrates.(IRAQ-SYRIA)
15 And the four angels were loosed, which were prepared for an hour, and a day, and a month, and a year, for to slay the third part of men.(1/3 Earths Population die in WW 3 2ND WAVE)
16 And the number of the army of the horsemen were two hundred thousand thousand:(200 MILLION MAN ARMY FROM CHINA AND THE KINGS OF THE EAST) and I heard the number of them.
17 And thus I saw the horses in the vision, and them that sat on them, having breastplates of fire, and of jacinth, and brimstone: and the heads of the horses were as the heads of lions; and out of their mouths issued fire and smoke and brimstone.(NUCLEAR BOMBS)
18 By these three was the third part of men killed, by the fire, and by the smoke, and by the brimstone, which issued out of their mouths.(NUCLEAR BOMBS)

MUSLIM NATIONS

EZEKIEL 38:1-12
1 And the word of the LORD came unto me, saying,
2 Son of man, set thy face against Gog,(RULER) the land of Magog,(RUSSIA) the chief prince of Meshech(MOSCOW)and Tubal,(TOBOLSK) and prophesy against him,
3 And say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech(MOSCOW) and Tubal:
4 And I will turn thee back, and put hooks into thy jaws,(GOD FORCES THE RUSSIA-MUSLIMS TO MARCH) and I will bring thee forth, and all thine army, horses and horsemen, all of them clothed with all sorts of armour, even a great company with bucklers and shields, all of them handling swords:
5 Persia,(IRAN,IRAQ) Ethiopia, and Libya with them; all of them with shield and helmet:
6 Gomer,(GERMANY) and all his bands; the house of Togarmah (TURKEY)of the north quarters, and all his bands:(SUDAN,AFRICA) and many people with thee.
7 Be thou prepared, and prepare for thyself, thou, and all thy company that are assembled unto thee, and be thou a guard unto them.
8 After many days thou shalt be visited: in the latter years thou shalt come into the land that is brought back from the sword, and is gathered out of many people, against the mountains of Israel, which have been always waste: but it is brought forth out of the nations, and they shall dwell safely all of them.
9 Thou shalt ascend and come like a storm, thou shalt be like a cloud to cover the land, thou, and all thy bands, and many people with thee.(RUSSIA-EGYPT AND MUSLIMS)
10 Thus saith the Lord GOD; It shall also come to pass, that at the same time shall things come into thy mind, and thou shalt think an evil thought:
11 And thou shalt say, I will go up to the land of unwalled villages; I will go to them that are at rest, that dwell safely, all of them dwelling without walls, and having neither bars nor gates,
12 To take a spoil, and to take a prey; to turn thine hand upon the desolate places that are now inhabited, and upon the people that are gathered out of the nations, which have gotten cattle and goods, that dwell in the midst of the land.

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

EZEKIEL 39:1-8
1 Therefore, thou son of man, prophesy against Gog,(LEADER OF RUSSIA) and say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech (MOSCOW) and Tubal: (TUBOLSK)
2 And I will turn thee back, and leave but the sixth part of thee, and will cause thee to come up from the north parts,(RUSSIA) and will bring thee upon the mountains of Israel:
3 And I will smite thy bow out of thy left hand, and will cause thine arrows to fall out of thy right hand.
4 Thou shalt fall upon the mountains of Israel, thou, and all thy bands,( ARABS) and the people that is with thee: I will give thee unto the ravenous birds of every sort, and to the beasts of the field to be devoured.
5 Thou shalt fall upon the open field: for I have spoken it, saith the Lord GOD.
6 And I will send a fire on Magog,(NUCLEAR BOMB) and among them that dwell carelessly in the isles: and they shall know that I am the LORD.
7 So will I make my holy name known in the midst of my people Israel; and I will not let them pollute my holy name any more: and the heathen shall know that I am the LORD, the Holy One in Israel.
8 Behold, it is come, and it is done, saith the Lord GOD; this is the day whereof I have spoken.

JOEL 2:3,20,30-31
3 A fire(NUCLEAR BOMB) devoureth before them;(RUSSIA-ARABS) and behind them a flame burneth: the land is as the garden of Eden before them, and behind them a desolate wilderness; yea, and nothing shall escape them.
20 But I will remove far off from you the northern army,(RUSSIA,MUSLIMS) and will drive him into a land barren and desolate, with his face toward the east sea, and his hinder part toward the utmost sea, and his stink shall come up, and his ill savour shall come up, because he hath done great things.(SIBERIAN DESERT)
30 And I will shew wonders in the heavens and in the earth, blood, and fire, and pillars of smoke.(NUCLEAR BOMB)
31 The sun shall be turned into darkness, and the moon into blood, before the great and the terrible day of the LORD come.

Russia, China warn West against Arab interference
– Thu Jun 16, 10:19 am ET

MOSCOW (AFP) – Russia and China oppose outside interference in the unrest in the Arab world, the two presidents said on Thursday in a declaration, as the West seeks their support for increasing pressure on Syria.The sides believe that the search for settling the situation in the countries of the Middle East and North Africa should take place in the legal field and through political means, said the declaration signed by Presidents Dmitry Medvedev and Hu Jintao.Outside forces should not interfere in internal processes in the countries of the region.Rather, the conflicts should be solved by launching broad national dialogue about rebuilding stability and social order and the promotion of democratic and economic reforms,the statement said.

The two presidents also expressed concern over the situation in Libya, calling for an end to hostilities between the forces of Libyan leader Moamer Kadhafi and the rebels.Russia has said it opposes the UN Security Council adopting any resolution on Syria, risking a major dispute with the West over the response to the crackdown on Syrian protestors.China has backed Russia's cautious stance although, as is customary, it has allowed its fellow permanent UN Security Council member to do most of the public talking on the issue.Russian foreign ministry spokesman Alexander Lukashevich confirmed in Moscow that Russia as before was opposed to a UN Security Council resolution on Syria.This position, as you know, has been set by the president and it remains unchanged,the Interfax news agency quoted him as saying.

Once bitter foes during the Cold War, Moscow and Beijing have over the past years ramped up political cooperation as both are driven by a desire to counterbalance US global dominance.Speaking through a translator, Hu said at the Kremlin that Russia and China should expand their strategic cooperation including within multilateral structures like the UN and the Group of Twenty developed and developing economies.
Joint work should also be ramped up within regional groupings like the Shanghai Cooperation Organisation in order to support peace, security and stability on the planet and facilitate the formation of a multilateral world and the democratisation of international relations,Hu said.In their joint declartion, the two countries also said they would also seek to intensify cooperation with major regional player India.

http://www.youtube.com/watch?v=GOhzRZOOMiU
US Naval and Troop Movements Toward North Africa, Middle East As Syrian Destabilization Escalates Webster Tarpley Infowars.com June 17, 2011

US Special Forces units based at Fort Hood, Texas, have been told to prepare for deployment to Libya no later than July, according to a US military source. The Special Forces would then be followed in September or October by heavy armored units of the First Cavalry Division, currently located in Iraq and Afghanistan, along with other components of the US III Corps. This report was broadcast today on the Alex Jones radio program, and comes against the backdrop of escalating US destabilization operations against Syria and sharpening US condemnation of Damascus and its ally, Tehran.Observers point out that US Special Forces have been in Libya since February. They also note that, while the Libyan destination is highly plausible, some of these units may also find themselves on the way to Yemen, Syria, or beyond.Another anonymous military source speaking on the Alex Jones broadcast reported that US stocks of depleted uranium (DU) munitions are currently very low. This may be the reality behind outgoing Defense Secretary Gates’ complaint last week that NATO is running out of bombs in Libya, and similar remarks by French NATO General Stephane Abrial in Belgrade.A source at US Central Command (CENTCOM) confirmed that US forces are being lined up for new foreign missions, and added that his unit had recently processed two deceased US Army soldiers and three deceased US civilians, possibly mercenaries. The source attributed these cases to Libya, although US operations in Libya are widely thought to be controlled by the new US African Command (AFRICOM).

These reports should be taken together with the energetic protests from the Russian Foreign Ministry over the presence of the US Aegis cruiser Monterrey (a vessel with anti-ballistic missile capabilities) in the Black Sea, along with the arrival of the amphibious assault ship USS Bataan off the coast of Syria.According to the Israeli site DebkaFile, which often reflects the views of the Mossad, Western sources additonally report a build-up of ship-borne anti-missile missile strength in the Mediterranean basin. This huge concentration of naval missile interceptor units looks like preparations by Washington for the contingency of Iran, Syria and Hizballah letting loose with surface missiles against US and Israeli targets in the event of US military intervention to stop the anti-opposition slaughter underway in Syria. Moscow, Tehran and Damascus, in particular, are taking this exceptional spate of American military movements in and around the Mediterranean as realistically portending American intervention in Syria.Debka also says that Hezbollah is in the process of moving some of its formidable missile assets from northern Lebanon to the central regions of that country, closer to Israel.The Obama administration is thus on a collision course with the Congress over the War Powers Act, which requires legislative approval of the Libyan war by June 20. If Obama continues to bomb Libya beyond next Monday, or compounds his air assault with a ground invasion, he will be impeachment bait.

LAND FOR PEACE (THE FUTURE 7 YEARS OF HELL ON EARTH)

JOEL 3:2
2 I will also gather all nations, and will bring them down into the valley of Jehoshaphat, and will plead with them there for my people and for my heritage Israel, whom they have scattered among the nations, and parted my land.

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 11:21-23
21 And in his estate shall stand up a vile person, to whom they shall not give the honour of the kingdom: but he shall come in peaceably, and obtain the kingdom by flatteries.
23 And after the league made with him he shall work deceitfully: for he shall come up, and shall become strong with a small people.
24 He shall enter peaceably even upon the fattest places of the province; and he shall do that which his fathers have not done, nor his fathers' fathers; he shall scatter among them the prey, and spoil, and riches: yea, and he shall forecast his devices against the strong holds, even for a time.

DANIEL 9:26-27
26 And after threescore and two weeks(62X7=434 YEARS+7X7=49 YEARS=TOTAL OF 69 WEEKS OR 483 YRS) 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;(ROMAN LEADERS DESTROYED THE 2ND TEMPLE) and the end thereof shall be with a flood, and unto the end of the war desolations are determined.(THERE HAS TO BE 70 WEEKS OR 490 YRS TO FUFILL THE VISION AND PROPHECY OF DAN 9:24).(THE NEXT VERSE IS THAT 7 YR WEEK OR (70TH FINAL WEEK).
27 And he( THE ROMAN,EU PRESIDENT) shall confirm the covenant with many for one week:(1X7=7 YEARS) and in the midst of the week he shall cause the sacrifice and the oblation to cease,(3 1/2 yrs in TEMPLE SACRIFICES STOPPED) and for the overspreading of abominations he shall make it desolate, even until the consummation, and that determined shall be poured upon the desolate.

JEREMIAH 6:14
14 They have healed also the hurt of the daughter of my people slightly, saying, Peace, peace; when there is no peace.

JEREMIAH 8:11
11 For they have healed the hurt of the daughter of my people slightly, saying, Peace, peace; when there is no peace.

1 THESSALONIANS 5:3
3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.

ISAIAH 28:14-19 (THIS IS THE 7 YR TREATY COVENANT OF DANIEL 9:27)
14 Wherefore hear the word of the LORD, ye scornful men, that rule this people which is in Jerusalem.
15 Because ye have said, We have made a covenant with death, and with hell are we at agreement; when the overflowing scourge shall pass through, it shall not come unto us: for we have made lies our refuge, and under falsehood have we hid ourselves:
16 Therefore thus saith the Lord GOD, Behold, I lay in Zion for a foundation a stone, a tried stone, a precious corner stone, a sure foundation: he that believeth shall not make haste.
17 Judgment also will I lay to the line, and righteousness to the plummet: and the hail shall sweep away the refuge of lies, and the waters shall overflow the hiding place.
18 And your covenant with death shall be disannulled, and your agreement with hell shall not stand; when the overflowing scourge shall pass through, then ye shall be trodden down by it.
19 From the time that it goeth forth it shall take you: for morning by morning shall it pass over, by day and by night: and it shall be a vexation only to understand the report.

Peres Says Peace Possible Before September
by Gavriel Queenann JUNE 16,11

President Shimon Peres said Thursday that peace could exist between Israel and the Palestinian Authority within months, the Associated Press reports.Ignoring the slow-burn of criticism in Israel's Hebrew-language press that an Israeli president is supposed to avoid politics, especially matters of potential controversy, and serve in a purely ceremonial capacity, Peres said an Israeli-PA peace accord could be reached before September.PA chairman Mahmoud Abbas has said he plans to ask the United Nations to unilaterally recognize a PA state based on the 1949 Armistice lines (often misleadingly referred to as the 1967 lines), an act which Peres warned would be only an illusion.A Palestinian state born of a unilateral declaration in the UN would remain [on] paper and will raise false hopes, Peres said.Israel would, according to Peres, respond to such a declaration by the UN with a series of strong, rhetorical questions.Can you stop terror, United Nations? Can you stop the politics of Iran that finances Hizbullah and finances Hamas? Can you stop the smuggling of arms? And if the United Nations cannot answer it, so what is the value of their resolution, Peres asked.But such a PA bid may not come to fruition at all as officials close to Mahmoud Abbas say he's found himself on a political precipice vis-a-vis the United Nations. The United States has openly said it would oppose such a move, with the European Union hinting it is likely to do the same.Peres nonetheless expressed optimism that a deal with the Palestinians can be reached within months.I don't exclude that in spite of the short time we can conclude an agreement with the Palestinians before September, Peres told the AP without explaining how fundamental differences lasting decades could be so easily set aside in less than three months when talks are, mutually, a non-starter at this point.

Peres also downplayed the issues that have held up the peace process for so many years, saying, In a strange way, the differences are psychological rather than material.I know a little bit about negotiations,Peres said,The opening position is extremely loud and very maximalist ... but they you have to go down quietly.Peres has reportedly met in secret with PA chairman Mahmoud Abbas in more than once in recent months in the hopes of advancing his personal agenda of restarting negotiations despite the position of the Netanyahu government – and the vast majority of Israelis – that negotiations are not possible at this time.It was secret negotiations between then-Defense Minister Shimon Peres and PLO chairman Yassir Arafat behind Prime Minister Yitzchak Rabin's back that resulted in the disastrous Oslo Accords and creation of the Palestinian Authority.Some 1,500 Israelis have been murdered in terror attacks and intifadas staged by PA arabs under the Oslo paradigm.(IsraelNationalNews.com)

MUSLIM NATIONS

EZEKIEL 38:1-12
1 And the word of the LORD came unto me, saying,
2 Son of man, set thy face against Gog,(RULER) the land of Magog,(RUSSIA) the chief prince of Meshech(MOSCOW)and Tubal,(TOBOLSK) and prophesy against him,
3 And say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech(MOSCOW) and Tubal:
4 And I will turn thee back, and put hooks into thy jaws,(GOD FORCES THE RUSSIA-MUSLIMS TO MARCH) and I will bring thee forth, and all thine army, horses and horsemen, all of them clothed with all sorts of armour, even a great company with bucklers and shields, all of them handling swords:
5 Persia,(IRAN,IRAQ) Ethiopia, and Libya with them; all of them with shield and helmet:
6 Gomer,(GERMANY) and all his bands; the house of Togarmah (TURKEY)of the north quarters, and all his bands:(SUDAN,AFRICA) and many people with thee.
7 Be thou prepared, and prepare for thyself, thou, and all thy company that are assembled unto thee, and be thou a guard unto them.
8 After many days thou shalt be visited: in the latter years thou shalt come into the land that is brought back from the sword, and is gathered out of many people, against the mountains of Israel, which have been always waste: but it is brought forth out of the nations, and they shall dwell safely all of them.
9 Thou shalt ascend and come like a storm, thou shalt be like a cloud to cover the land, thou, and all thy bands, and many people with thee.(RUSSIA-EGYPT AND MUSLIMS)
10 Thus saith the Lord GOD; It shall also come to pass, that at the same time shall things come into thy mind, and thou shalt think an evil thought:
11 And thou shalt say, I will go up to the land of unwalled villages; I will go to them that are at rest, that dwell safely, all of them dwelling without walls, and having neither bars nor gates,
12 To take a spoil, and to take a prey; to turn thine hand upon the desolate places that are now inhabited, and upon the people that are gathered out of the nations, which have gotten cattle and goods, that dwell in the midst of the land.

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

PSALMS 83:3-7
3 They (ARABS,MUSLIMS) have taken crafty counsel against thy people,(ISRAEL) and consulted against thy hidden ones.
4 They have said, Come, and let us cut them off from being a nation; that the name of Israel may be no more in remembrance.
5 For they (MUSLIMS) have consulted together with one consent: they are confederate against thee:(TREATIES)
6 The tabernacles of Edom,(JORDAN) and the Ishmaelites;(ARABS) of Moab, PALESTINIANS,JORDAN) and the Hagarenes;(EGYPT)
7 Gebal,(HEZZBALLOH,LEBANON) and Ammon,(JORDAN) and Amalek;(SYRIA,ARABS,SINAI) the Philistines (PALESTINIANS) with the inhabitants of Tyre;(LEBANON)

DANIEL 11:40-43
40 And at the time of the end shall the king of the south( EGYPT) push at him:(EU DICTATOR IN ISRAEL) and the king of the north (RUSSIA AND MUSLIM HORDES OF EZEK 38+39) shall come against him like a whirlwind, with chariots, and with horsemen, and with many ships; and he shall enter into the countries, and shall overflow and pass over.
41 He shall enter also into the glorious land, and many countries shall be overthrown: but these shall escape out of his hand, even Edom, and Moab, and the chief of the children of Ammon.(JORDAN)
42 He shall stretch forth his hand also upon the countries: and the land of Egypt shall not escape.
43 But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: and the Libyans and the Ethiopians shall be at his steps.

EZEKIEL 39:1-8
1 Therefore, thou son of man, prophesy against Gog,(LEADER OF RUSSIA) and say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech (MOSCOW) and Tubal: (TUBOLSK)
2 And I will turn thee back, and leave but the sixth part of thee, and will cause thee to come up from the north parts,(RUSSIA) and will bring thee upon the mountains of Israel:
3 And I will smite thy bow out of thy left hand, and will cause thine arrows to fall out of thy right hand.
4 Thou shalt fall upon the mountains of Israel, thou, and all thy bands,( ARABS) and the people that is with thee: I will give thee unto the ravenous birds of every sort, and to the beasts of the field to be devoured.
5 Thou shalt fall upon the open field: for I have spoken it, saith the Lord GOD.
6 And I will send a fire on Magog,(NUCLEAR BOMB) and among them that dwell carelessly in the isles: and they shall know that I am the LORD.
7 So will I make my holy name known in the midst of my people Israel; and I will not let them pollute my holy name any more: and the heathen shall know that I am the LORD, the Holy One in Israel.
8 Behold, it is come, and it is done, saith the Lord GOD; this is the day whereof I have spoken.

JOEL 2:3,20,30-31
3 A fire(NUCLEAR BOMB) devoureth before them;(RUSSIA-ARABS) and behind them a flame burneth: the land is as the garden of Eden before them, and behind them a desolate wilderness; yea, and nothing shall escape them.
20 But I will remove far off from you the northern army,(RUSSIA,MUSLIMS) and will drive him into a land barren and desolate, with his face toward the east sea, and his hinder part toward the utmost sea, and his stink shall come up, and his ill savour shall come up, because he hath done great things.(SIBERIAN DESERT)
30 And I will shew wonders in the heavens and in the earth, blood, and fire, and pillars of smoke.(NUCLEAR BOMB)
31 The sun shall be turned into darkness, and the moon into blood, before the great and the terrible day of the LORD come.

Al Qaeda Says No Recognition for the Alleged Israel
by Gavriel Queenann JUNE 16,11

After naming Ayman al-Zawahri as Al-Qaeda leader Osama Bin Laden's successor on Thursday the terror group, unsurprisingly, said it will never recognize any legitimacy for the alleged state of Israel,Reuters reports.We assure our people in Palestine that we will not accept any compromise with anyone regarding the land of Palestine,the Al-Qaeda statement read.A United States counter-terrorism official, speaking on condition of anonymity, told Reuters that Washington believed the announcement was genuine, but the State Department was dismissive of the communique’s significance.Zawahri, Al-Qaeda's operational commander who has been widely regarded as the brains behind the terror organization's global strategy, was appointed leader a month and a half after the assassination of Bin Laden.We seek the help of God to preach the true religion, to incite the nation to get ready and fight to fulfill the duty of fighting the infidels who aggress on the land of Islam, led by America and its spoiled child Israel, to fight them with all our might,the announcement stated.Al Qaeda also endorsed continued unrest in the Muslim world, which has benefited the terror group in Yemen where its forces are openly trying to take over parts of the country.We support the uprisings of our oppressed Muslim people who rose up in the face of the corrupt tyrants who dealt our nation the worst kind of torture in Egypt, Tunisia, Libya, Yemen, Syria and Morocco. We urge them and other Muslim people to rise up,the Al Qaeda statement said.

Since the outbreak of the so-called Arab Spring uprisings, Zawahri has been appearing in videos praising the Taliban and its armed operations against the US. In April, he urged Muslims to fight NATO and American forces in Libya.Earlier this month he released a new video recording following the death of bin Laden in May, vowing to press ahead with the group's campaign against the United States and its allies.In a video message posted on the internet on June 8, Zawahri said al-Qaeda would continue to fight. He called this year's Arab uprisings a disaster for Washington because, he said, they would remove Arab leaders who were the agents of America.(IsraelNationalNews.com)

Four Killed in Netanya Explosion
by Elad Benari JUNE 16,11

Four people were killed and 49 others were wounded late Thursday night after a loud explosion ripped through a four-storey building in the heart of the city of Netanya.
The building which was hit houses restaurants on the lower floor and apartments on the upper floors. Magen David Adom teams who were called to the scene began evacuating individuals who were trapped in the building, which partially collapsed as a result of the explosion.Of the 49 casualties, three were moderately wounded and the rest were lightly wounded. 27 of them were taken to Laniado Hospital in Netanya, 19 were taken to Hillel Yafe Hospital in Hadera, and two were taken to Meir Hospital in Kfar Saba.Police said that the explosion was not caused by a terrorist attack but rather by a gas balloon which malfunctioned and exploded. Eyewitnesses reported of a sharp smell of gas in the area.Voice of Israel radio later reported that the police had arrested an individual who was seen on Thursday afternoon as he was attempting to cut gas pipes in the building. The suspect is being questioned by police on suspicion that his actions may have caused the explosion.(IsraelNationalNews.com)

Recipe to Brighten Up Your Summer Shabbat Table
by Sima Herzfeld JUNE 16,11

Summer brings out the more relaxed and playfull side of our nature. Cooking with summer's fruits and vegetables is not only good for our health, it also enhances the beauty of our table. This is a quick recipe, 5 minutes of preparation time, 15 minutes of cooking time. The sweetness of the beets and the berries balance the bitterness of the quinoa. Even people (read: my kids) who have sworn off quinoa like this recipe.Gozi berries are the latest fad in weight loss. Gozi berries have a high glycemic index which means that they raise your sugar level and keep it a high level for a relatively longer period of time than, say, chocolate cake. Does this mean that you’ll lose weight? That’s up to you. If you eat gozi berries and also eat chocolate cake, then I’m going to have to say not, but the gozi berries might stop you from wanting to eat the cake by making you think that you are not so hungry. As for myself, I don’t really need to be hungry to eat chocolate cake, but it is certainly worth a try.Gozi berries are also slightly sour in flavor which means that they have a cleansing effect on the liver. Overall, while they don’t make the Top Ten Food List, they are still on my blog (the chocolate cake remains disappointed).
If you don't have or want to find gozi berries then substitute for them with cranberries or raisins.

Ingredients:

olive oil
1 onion, chopped
1 large beet, chopped
1 tsp pomegranate concentrate
2 cups quinoa, rinsed
4 cups water
1 tsp gozi berries
juice of 1/2 lemon
1/2 tsp turmeric
salt and pepper

Garnish:
yellow pepper, chopped
broccoli sprouts
shang mei mushrooms

Heat the olive oil in a 2 liter pot. Add the onion and saute for 3 minutes, add the beets and spices and saute for 3 more minutes. Add the water and the lemon juice and simmer for 10 minutes. Add the quinoa and the gozi berries and simmer until the water is almost completely absorbed. (About 10 minutes.) Remove from the flame, stir, and allow to stand covered for an additional 5 minutes.Garnish with broccoli sprouts, shang mei mushrooms and yellow pepper.Serve warm. Serves 4-6
Recipe from JustAddFlax.com.Enjoy!(IsraelNationalNews.com)

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,(WORLD SOCIALISM) 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
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CNBC VIDEOS
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HALF HOUR DOW RESULTS FRI JUNE 17,2011

09:30 AM +2.43
10:00 AM +91.58
10:30 AM +59.57
11:00 AM +97.60
11:30 AM +85.45
12:00 PM +79.70
12:30 PM +66.15
01:00 PM +40.80
01:30 PM +24.24
02:00 PM +50.79
02:30 PM +60.97
03:00 PM +42.25
03:30 PM +30.84
04:00 PM +42.84 12,004.36

S&P 500 1271.50 +3.86

NASDAQ 2616.48 -7.22

GOLD 1,537.80 +7.90

OIL 92.99 -1.96

TSE 300 12,790.00 -63.20

CDNX 1897.94 +8.59

S&P/TSX/60 734.93 -4.09

MORNING,NEWS,STATS

YEAR TO DATE PERFORMANCE
Dow +101 points at 4 minutes of trading today.
Dow -0.15 points at low today.
Dow +105 points at high today so far.
GOLD opens at $1,528.70.OIL opens at $93.21 today.

AFTERNOON,NEWS,STATS
Dow -0.15 points at low today so far.
Dow +111 points at high today so far.

WRAPUP,NEWS,STATS
Dow -0.15 points at low today.
Dow +111 points at high today.

GOLD ALLTIME HIGH $1,573.50 (NOT AT CLOSE)

DANIEL 7:23-24
23 Thus he said, The fourth beast(THE EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADE BLOCKS)
24 And the ten horns out of this kingdom are ten kings that shall arise:(10 NATIONS-10 WORLD REGIONS) and another shall rise after them;(#11 SPAIN) and he shall be diverse from the first, and he shall subdue three kings.(BE HEAD OF 3 KINGS OR NATIONS).

Key MEPs back Draghi for top post in eurozone bank
ANDREW WILLIS 16.06.2011 @ 09:21 CET

EUOBSERVER / BRUSSELS - Members of the European Parliament's economic and monetary affairs committee have backed Italian central bank governor Mario Draghi to take over the reins at the European Central Bank this November when outgoing president Jean-Claude Trichet is due to step down.The decision by a large majority on Wednesday (15 June) paves the way for a vote by the full plenary of MEPs on the 23 June, coinciding with a European summit in Brussels where leaders are expected to give their final endorsement.The draft summit conclusions, seen by EUobserver, say: The European Council ... appointed Mr Mario Draghi President of the European Central Bank from 1 November 2011 to 31 October 2019.In a two-hour hearing a day earlier, Draghi vigorously defended his candidature in front of questions from the euro-deputies, his direct style contrasting with Trichet's more diplomatic approach.

Greece, European economic governance and Draghi's former career in US investment bank Goldman Sachs were the main subjects, with MEPs keen to hear the Italian's views on the ongoing turmoil inside the eurozone.Striking a hawkish tone likely to go down well in Berlin, Draghi said fighting inflation should remain the ECB's number one priority.On Greece he stuck to the ECB line that any rescheduling of returns for private investors must be entirely voluntary, as had been the case in 2009 for some central and eastern European countries.The cost of a real default will exceed the benefits and will not address the root causes ... we do not know what contagion effects it will have, said Draghi, denying that his position is driven by the ECB's own exposure to Greece.The terms of a second package of financial aid for Athens have led to fraught discussion between eurozone states and EU institutions in recent days, aggravating tensions between Berlin and the Frankfurt-based EU bank.

Greece's current debt dilemma was less severe than the one faced by Italy in the 1990s, said Draghi. He added that as a former employee of Goldman Sachs, he played no role in the bank's provision of controversial currency swaps to Athens, perceived as enabling the government to hide the full extent of its debt.I acted with integrity and I am seen by unbiased people as having acted with integrity,he said.On economic governance, the Italian central banker told MEPs they were right to press for more ambitious rules than the ones currently being supported by member states.We need more automaticity as parliament is rightly pushing for and more sanctions,he said. He argued that it was too early for eurobonds or a European finance minister, as some would like to see, however.Afterwards Draghi told journalists that his first experience of democratic accountability was one of the greatest learning experiences I have ever had.The surprise exit form the ECB race earlier this year of Berlin's preferred candidate, Axel Weber, the then president of Germany's Bundesbank, was seen as opening the door to the Italian, whose southern European origins had been considered as a weak point in his application.

Brussels scolds Greek political class amid fresh turmoil LEIGH PHILLIPS 16.06.2011 @ 18:15 CET

EUOBSERVER / BRUSSELS - The European Commission reprimanded the Greek political class on Thursday for the governing and opposition parties' failure to forge a national unity government after talks broke down the day before.A great deal of responsibility lies on the shoulders of the Greek authorities and all Greek political leaders, EU economy commissioner Olli Rehn said in a statement.We expect the Greek Parliament to endorse the economic reform programme as agreed by the end of June.The EU-IMF-ECB troika have pressed the Greek government with its slim majority to forge a cross-party consensus with the conservative opposition in return for the latest, €12 billion tranche of bail-out cash.It is regrettable that the efforts to build national unity failed yesterday, Rehn continued, saying that all parties must support the bail-out agreement.Indeed, the efforts needed to avoid a default - which would be a catastrophe for Greece - are the responsibility of all political forces.The next days will be critical for the financial stability and economic recovery in Greece and Europe. I trust all leaders in Greece and Europe realise their responsibility and will act accordingly.On Wednesday, Greece's political crisis deepened when in talks with conservative opposition leader Antonis Samaras, Prime Minister George Papandreou offered to resign as head of government in what he described as his fourth attempt at forging a coalition government.However, Papandreou rejected demands by his opposite number that the memorandum of understanding between Greece and the Troika be renegotiated.

Rehn's rebuke came amid fresh turmoil in Athens.As the prime minister attempted to move forward with a cabinet shuffle, Papandreou was blindsided by a further two resignations by senior MPs in his party, putting into question the government's ability to push through a new five-year plan of austerity and state-asset sell-offs.
Yiorgos Floridis, who had been tipped as a possible replacement for finance minister George Papaconstaniou, and Ektoras Nasiokas tendered their resignations.However, the ruling Pasok party's narrow five-seat majority will not be reduced, as the pair are also stepping down from parliament rather than staying on as independents or defecting to other parties, meaning they will be replaced by other party figures.In leaving, Floridis blasted the behaviour of both the government and opposition, saying that they had sealed the end of a worn-out and redundant political system.The prime minister intends to move forward with a cabinet shuffle, a move that will likely involve the replacement of some Pasok ministers with non-partisan experts.It is all but certain that the finance minister will be amongst those to go, possibly to be replaced by a former Greek ECB official.Papandreou has demanded a confidence vote, with the debate due to start on Friday and a vote on Sunday.The new cabinet however may only last a few weeks, in place long enough to pass the five-year austerity package before, according to some reports, snap elections.Meanwhile, Olli Rehn also announced that the question of reaching an agreement on the latest dispersal of funds to Greece will be separated from the wider issue of a second bail-out in what he called a two-step approach.

He said that he expected the Eurogroup of finance ministers will reach an accord on the issuance of the fifth tranche of loans in early July, and a decision on the medium term and the nature of private bondholder involvement in any such move later next month.He said that he believed the IMF would be able to participate in the former step: I trust that we will also be able to conclude the pending review, in agreement with the IMF.There have been concerns that the Washington-based lender would not be able to sign on to the latest tranche of funds as its rules require that a country's funding requirements be resolved for the entire period of the coming year, a position that Greece cannot assure.An EU official told EUobserver that there is no fixed date for disbursement.The IMF has to take its decision, we have to take ours. It never happens the same day, although decisions are taken independently but with co-ordination.

EU backs budget support and 2030 target for renewables ANDREW WILLIS 16.06.2011 @ 17:30 CET

EUOBSERVER / BRUSSELS - The European Commission has said the EU must establish a binding 2030 target for renewable energy, pledging to include stimulus measures for the industry in its multi-annual budget proposals (post 2013) to be published later this month.Political turmoil in the oil-producing Arab world and Japan's nuclear accident have already served to buoy the renewables industry in recent months, but high development costs and Europe's emerging shale gas industry feature prominently among a number of key challenges.Pointing to the driest spring on record over much of Europe this year, and the associated problems for food production, European Commission President Jose Manuel Barroso told a conference in Brussels on Thursday (16 June) that the effects of climate change were increasingly visible.The world is heading towards a point of no return. Our foot is stuck on the accelerator and we need to hit the brakes, and fast. And renewable energy offers us a significant tool in doing so, the commission chief told delegates, assembled for the presentation of a UN report.Produced by the Intergovernmental Panel on Climate Change (IPCC), the report maps out a wide range of development scenarios for different types of renewable energy, including bioenergy, solar, geothermal, hydro, ocean and wind power.Europe risked being left behind as countries such as China pour large investments into the sector, warned Barroso, pledging to dedicate a very important part of the commission's multi-annual budget proposal (30 June) to developing the sector.I expect to mainstream support for resource efficiency and also measures to address the issue of climate change,he said, adding that Germany's recent u-turn on nuclear energy was likely to serve as an additional boost to renewable development.

Barroso also took the opportunity to condemn the US and China's opposition to the inclusion of the aviation sector in the EU's emissions trading scheme form 2012 onwards.Some of our partners who criticise us would do better for themselves and for the planet if they joined us instead in this effort,he said.

Caution on biofuels

EU climate commissioner Connie Hedegaard welcomed the IPCC report as a timely contribution to the renewable energy debate, adding that the time was now right for the EU to discuss longer-term plans in the area.Current rules oblige the 27-member bloc to secure 20 percent of its energy needs from renewable sources by 2020.But I think it is also now high time to start discussing a renewables target for 2030, said Hedegaard, noting that a recent report by the European Renewable Energy Council suggested 45 percent as an appropriate figure. The commission's own proposal is likely to be contained in a 2050 energy roadmap scheduled for later this year.One of the big challenges now is to get the private investors to go into this area, but in order for them to do so they need to look beyond 2020, Hedegaard said.A chapter in the IPCC report points to the large potential of bioenergy in boosting renewable energy production, although claims of land-grabs in Africa are among the list of controversies more recently linked to the growing of biofuel crops.The commission is also assessing the negative environmental impacts linked to the clearing of forests and scrubland for biofuel crops, prompting a fierce lobbying campaign by pro-biofuel groups in Brussels.We must take care now that we do no believe that everything that starts with bio is good by definition. We risk making very, very big mistakes if we dont get this right,warned Hedegaard.The problem of course is that if first you have established the companies, factories, the whole industry, then its more difficult to adjust afterwards.

Four states push back against EU Semester
LEIGH PHILLIPS 15.06.2011 @ 17:34 CET

EUOBSERVER / BRUSSELS - The European Commission has warned against a "watering down" of the new system of centralised oversight on national economic planning after the Hungarian EU presidency accused Brussels of steamrolling through the process and leaving no time to assess what is being proposed.In an angry letter seen by EUobserver, the Hungarian finance minister, Gyorgy Matolcsy, last week blasted the new European Semester, under which the commission and the Council give direction to national fiscal policies, saying that the way that the EU executive has handled the process so far undermines its credibility even as it is just getting off the ground.

Addressed to EU economy chief Olli Rehn and the Hungarian commissioner, Laszlo Andor, the letter complains that the commission is pushing through the process without giving states the time to access the recommendations before they have to be approved by the European Council.This approach undermines the credibility of the whole procedure,said the minister, whose country holds the six-month rotating presidency and shepherded in the new EU semester system.Expressing his serious concerns regarding the course of action the commission took during the European Semester,Matolcsy complained that Hungary was one of the few countries to submit its budget and economic planning documents on time, the minister said he expected Brussels would have allowed some give and take with Hungarian officials before the recommendations were published.We had provided the opportunity to the commission services to have an open and frank dialogue regarding the details of the programmes, he wrote.Unfortunately, the commission services did not grasp this opportunity.The commission's recommendations were only published on 7 June, leaving insufficient time for experts and policy makers to review them ahead of the EU Council at the end of the month, he said.He also went on to attack the content of the commission's assessment of the country's fiscal plans: Let me underline that our opinion differs substantially.Principally, he disagreed with commission's assessment the country's domestic economic projections, which Brussels had suggested was over-optimistic, calling for further austerity measures.

The minister argued that growth in domestic demand will be robust and that its pension reforms will reduce public debt in the short, medium and long term. Matolcsy attacked the commission's assessment of its pension measures as absolutely misleading.The minister concluded that as a result of these shortcomings in the Hungarian case, a review of the entire system may be deemed necessary.Hitting back at Budapest on Wednesday, commission economy spokesman Amadeu Altafaj-Tardio said far from the commission undermining the EU Semester process, the behaviour of member states presented a credibility test for the new system.He said that Spain and France had also pushed back against some of the recipes handed out to them, although not formally.Denmark also on Tuesday pushed back against the commission's call for the country to increase property taxes. Brussels is worried that artificially low mortgages on homes could create a property bubble.Brian Mikkelsen, the commerce minister, told Berlingske newspaper:The economy isn't in trouble just because people have borrowed money. They also have a lot of money. I disagree with the evaluation of the situation.French senior officials have complained about language in the commission's assessment calling for an increase to the retirement age after the country hiked it last year, a move that provoked widespread strikes and blockades. Paris is not eager to endure such upheaval so soon.The country is also resistant to demands that the country shift taxation away from progressive labour taxes and onto flat-rate VAT and green taxes. Madrid is also reluctant to go down this path.

Altafaj-Tardio however said that member states had already agreed to such moves via their endorsement of the EU 2020 strategy, a framework to boost competitiveness in the bloc.He also pointed out that the rapid timetable has been adopted by prime ministers and presidents.All member states, including Hungary, were of course well aware of this date,he said.He rejected the idea of any negotiations between the commission and member states over the timeframe: Independence and credibility would have been undermined had the Commission engaged in a dialogue with national authorities over the content of the recommendations.And he warned against the process of peer review leading to any watering down of the level of ambition that is needed to bring Europe back onto a solid track of growth.

http://www.israelnationalnews.com/News/News.aspx/144998

STORMS HURRICANES-TORNADOES

LUKE 21:25-26
25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity;(MASS CONFUSION) the sea and the waves roaring;(FIERCE WINDS)
26 Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.

THE FIRST JUDGEMENT OF THE EARTH STARTED WITH WATER-IT ONLY MAKES SENSE THE LAST GENERATION WILL BE HAVING FLOODING
GENESIS 7:6-12
6 And Noah was six hundred years old when the flood of waters was upon the earth.
7 And Noah went in, and his sons, and his wife, and his sons’ wives with him, into the ark, because of the waters of the flood.
8 Of clean beasts, and of beasts that are not clean, and of fowls, and of every thing that creepeth upon the earth,
9 There went in two and two unto Noah into the ark, the male and the female, as God had commanded Noah.
10 And it came to pass after seven days, that the waters of the flood were upon the earth.
11 In the six hundredth year of Noah’s life, in the second month, the seventeenth day of the month, the same day were all the fountains of the great deep broken up, and the windows of heaven were opened.
12 And the rain was upon the earth forty days and forty nights.
GOD PROMISED BY A RAINBOW-THE EARTH WOULD NEVER BE DESTROYED TOTALLY WITH A FLOOD AGAIN.BUT FLOODIING IS A SIGN OF JUDGEMENT.

Corps: Miss. River levee repairs could cost $1B
By HOLBROOK MOHR, Associated Press – Thu Jun 16, 3:40 pm ET

VICKSBURG, Miss. – A U.S. Army Corps of Engineers official says the cost of repairing Mississippi River levees that were damaged by this year's flooding could reach $1 billion, but it's not clear how much funding will be available.Col. Thatch Shepard, deputy commander of the Mississippi River Division, told The Associated Press on Thursday that repairing the levee system could cost $700 million to $1 billion. The Corps budget for the fiscal year is $210 million, so Shepard said he's hoping Congress will approve supplemental funding.There were preliminary signs this week that Congress is listening.A House Appropriations panel on Wednesday approved $1 billion in emergency money to repair levees and other flood control projects damaged by flooding along the Mississippi and Missouri rivers. The Senate panel has yet to act.

Oracle seeks billions in lawsuit against Google
By Dan Levine – Thu Jun 16, 5:39 pm ET

SAN FRANCISCO (Reuters) – Oracle Corp is seeking damages in the billions of dollars from Google Inc in a patent lawsuit over the smartphone market, according to a court filing.The disclosure on Thursday was the first time either side publicly mentioned the cumulative scale of Oracle's damages claims.Oracle sued Google last year, claiming the Web search company's Android mobile operating technology infringes Oracle's Java patents. Oracle bought the Java programing language through its acquisition of Sun Microsystems in January 2010.Some see the lawsuit as a sign of a growing business rivalry between the two companies.The case is also part of a wider web of litigation among phone makers and software firms over who owns the patents used in smartphones and tablets, as rivals aggressively rush into a market in which Apple jump-started with iPhone and iPad.Barring any settlements, a trial between Oracle and Google is expected to begin by November.Google has called an Oracle damages report unreliable and results-oriented, and asked a U.S. judge in San Francisco to ignore it, court documents show. In disputing Oracle's methodology, Google also asked the court to keep private some damages information Google disclosed in a court filing.Oracle then accused Google of trying to conceal the fact Oracle's damages claims in the case are in the billions, according to a document filed on Thursday. Oracle said it did not object to having the information about its damages become public.Due to Oracle's stance, U.S. District Judge William Alsup ordered Google on Thursday to make public the damages information by Friday.A Google representative declined to comment.The case in U.S. District Court, Northern District of California, is Oracle America, Inc v. Google Inc, 10-3561.(Reporting by Dan Levine; editing by Dave Zimmerman, Bernard Orr and Andre Grenon)

British govt backs banking reforms
by Roland Jackson – Thu Jun 16, 4:52 am ET

LONDON (AFP) – Finance minister George Osborne announced a major overhaul of Britain's banks, approving a separation of their retail and investment businesses to help avoid another global financial crisis.In a high-profile address to finance leaders in central London, Osborne also announced that Northern Rock would be privatised three years after it was nationalised to save it from collapse as the global financial crisis hit.Osborne backed the findings of the government-appointed Independent Commission on Banking (ICB) which earlier this year called for a ring-fencing of retail businesses.Today I have told the Commission that the government endorses both these proposals in principle... We will make these changes to banking to protect taxpayers in the future, he said.Osborne said he had taken the decision bearing in mind what he said was a British dilemma.As a global financial centre that generates hundreds of thousands of jobs, a successful banking and financial services industry is clearly in our national economic interests,he said.

But we cannot afford to let it pose a risk to the stability and prosperity of the nation's entire economy.The practice of banks using money from their retail arms to fund investment operations has been widely blamed as a major factor behind the global banking crisis.After months of speculation over Northern Rock, which was nationalised by the previous Labour government, Osborne said the coalition had to clear up the mess of the past.I can announce tonight that on behalf of you the British taxpayer, I have decided to put Northern Rock up for sale,he said, adding that they could at least get some of our money back.He did not set a price but the BBC said the government planned to sell it to a single buyer for about £1.0 billion (1.14 billion euros, $1.62 billion), rather less than the £1.4 billion it cost to bail out the lender.Potential buyers for Northern Rock could include Virgin Money, the Coventry and Yorkshire building societies, investment groups NBNK and Olivant, and Tesco Bank.Northern Rock plunged into crisis in mid-September 2007 when its exposure to the US-triggered credit crunch forced it to seek emergency assistance from the Bank of England, sparking the first run on a British bank in recent history.

To avert financial meltdown, the government agreed in December 2007 to guarantee all customer deposits and then later nationalised the bank in February 2008 to prevent its collapse.The lender was broken up into two parts last year, forming a so-called good bank that will be up for sale -- and a bad bank management company to run down the remaining toxic assets.Banking shares fell heavily in Wednesday trade, with Barclays closing down 1.58 percent to 260.73 pence and Royal Bank of Scotland shedding 1.53 percent to 40.91 pence.Bank of England chief Mervyn King, who spoke after Osborne, made a thinly veiled attack on banker pay packets.The governor expressed sympathy for the millions of people, not here tonight, who are now bearing the costs of the financial crisis.He also warned that Britain's economy faced tough challenges.Failure to tackle the imbalances during the seven years of plenty before 2007 threatens seven lean years thereafter,he cautioned.Storms from the world economy are likely to stir up the waters through which the UK economy must pass as it too adjusts to a new equilibrium with lower levels of debt and a rebalancing from domestic to external demand.We have to pass through turbulent waters. But we have set the right course,he added.In an interim report published in April, the ICB also recommended that banks set aside more capital to avoid future state bailouts.Cameron supported the report's findings but did not give a specific figure for future reserve levels, although it is expected to be higher than the international seven percent minimum.The Commission is seeking to protect borrowers and savers in the event of another crisis. It will publish its final report on September 12 when it will outline how exactly the so-called banking firewall will work.

Senate votes to repeal ethanol tax credits
By STEPHEN OHLEMACHER, Associated Press – JUNE 16,11

WASHINGTON – The Senate voted Thursday to repeal tax credits for producing ethanol, a vote that budget cutters hope will demonstrate a growing appetite in Congress to end special interest tax breaks to help reduce government borrowing.The Senate voted 73-27 to repeal the $5 billion annual subsidy, just two days after rejecting an identical measure. The tax credit provides 45 cents a gallon to oil refiners who mix gasoline with ethanol, a renewable, liquid fuel additive that comes mainly from corn in the U.S.The measure will now be added to a bill renewing a federal economic development program. The prospects for the overall bill are uncertain, but Thursday's vote clearly endangers the ethanol tax credit, which would expire at the end of the year anyway, unless Congress renews it.The measure passed Thursday would end the tax credit immediately. It would also repeal a 54-cent-a-gallon tariff on imported ethanol, which restricts imports, mainly from Brazil.The best way for ethanol to survive is to stand on its own two feet, without spending something we don't have to get something we're going to have anyway,said Sen. Tom Coburn, R-Okla.

In a sign that some ethanol subsidies are likely to endure, the Senate also voted 59-41 to reject a measure that would have eliminated a government program that supports the distribution of ethanol. The House had passed a similar measure earlier in the day, by a vote of 283-128, adding it to an agriculture spending bill.The debate played out as the White House and congressional leaders continued to negotiate spending cuts to help reign in government red ink. Thursday's vote will almost certainly make repealing the ethanol tax credit part of those discussions.The federal government, which borrows about 40 cents of every dollar it spends, has already hit the legal borrowing limit of $14.3 trillion. Treasury Secretary Timothy Geithner has warned Congress that the U.S. risks an unprecedented default on Treasury bonds if the borrowing limit isn't increased by Aug. 2. However, a growing number of lawmakers say they won't vote to increase the borrowing limit without substantial deficit reduction.Many Republicans have ruled out tax increases, though some have said they would support ending narrowly-tailored tax breaks like the ethanol tax credit. The ethanol tax credit is part of a package of dozens of business and individual tax breaks that Congress usually renews each year. Thursday's vote could spell trouble for some of the others.Thirty-three Republicans joined 38 Democrats in voting to eliminate the ethanol tax credit. Two independents who usually vote with the Democrats also supported the measure.

The Obama administration opposed both ethanol measures.The administration supports efforts currently under way in the Senate to reform and modernize tax incentives and other programs that support biofuels,Agriculture Secretary Tom Vilsack said in a statement. However, today's amendments are not reforms and are ill advised. They could lead to job loss and pull the rug out from under industry, which will lead to less choice for consumers and greater dependence on foreign oil.The Senate had rejected an identical amendment on Tuesday, 59-40, though some senators opposed it on procedural grounds that were later addressed.Critics say ethanol subsidies are no longer needed for an industry that is already supported by a mandate from Congress that requires refiners to blend 36 billion gallons of biofuels into auto fuel by 2022. They say it drives up corn prices, mainly for animal feed.A tax break from ethanol is a gift to the oil companies and grain producers, a gift that actually harms American consumers and our environment,said Sen. Ben Cardin, D-Md.Supporters of continued federal spending for ethanol argue it is a leading source of alternative fuel that helps reduce U.S. dependence on foreign oil. Sen. Tom Harkin, D-Iowa, said there should be a transition period rather than an abrupt elimination of the tax credit.This is truly a homegrown industry, built on the investment and labor of many thousands of Americans, providing a product that helps us with one of our most pressing national issues: our dependency on imported oil, Harkin said. Yet here we are debating amendments that I think clearly tell the industry, `you aren't important, you don't matter, and you don't have the support of the American people.' Well, I think that is the wrong, misguided message to be sending.Sen. Chuck Grassley, R-Iowa, asked: Why is the Senate taking a full week and voting twice on the same amendment that will increase prices at the pump, increase dependence on foreign oil, and lead to job losses? We should be having this debate in the context of a comprehensive energy plan.