GREECE LOSES SOVEREIGNTY OVER BAILOUT

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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HALF HOUR DOW RESULTS THU OCTOBER 27,2011

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MORNING,NEWS,STATS

YEAR TO DATE PERFORMANCE
Dow +193 points at 4 minutes of trading today.
Dow +1 points at low today.
Dow +310 points at high today so far.
GOLD opens at $1,722.50.OIL opens at $93.20 today.

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WRAPUP,NEWS,STATS
Dow +1 points at low today.
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GOLD ALLTIME HIGH $1,902.60 (NOT AT CLOSE)

NATURAL GAS THURSDAYS

Eurozone chiefs reach deal with bank bosses on Greek haircut Today OCT 27,11 @ 05:27 By Leigh Phillips

BRUSSELS - Eurozone leaders have reached a deal with the world’s major banks under which they will accept a haircut of 50 percent on their holdings of Greek sovereign debt.The world's banks eventually agreed to accept a haircut of 50 percent on their Greek holdings (Photo: andres rueda)Early Thursday (27 October) morning, EU Presidents Herman van Rompuy and Jose Manuel Barroso announced that an agreement had finally been hammered out with the Institute for International Finance, the association representing the sector, after hours of stonewalling by the banks, who had refused to accept a write-down of Greek bonds exceeding 40 percent.It was agreed tonight there will be a nominal discount of 50 percent of notional Greek debt, a weary Van Rompuy told reporters just after 4am in the European capital.Earlier in the night, the managing director of the IIF, Charles Dallara, who led negotiations with EU premiers and presidents over the issue, had put out a statement saying bluntly: There is no agreement on any element of a deal.European leaders had been pushing for the banks to accept losses of 60 percent.The International Monetary Fund for its part is understood to have favoured a haircut of 75 percent, arguing that a more substantial write-down was the only way to ensure that Greece’s debt can be held at a sustainable level.Without such a reduction in its debt pile, the Washington-based lender feared that Athens will not indefinitely have to be attached to a drip-feed of bail-outs to keep its economy alive.German Chancellor Angela Merkel, French President Nicolas Sarkozy, IMF boss Christine Lagarde and EU Council President Herman van Rompuy met privately with Dallara through the night in a desperate attempt to convince the banking chief to break his stonewalling.

And ultimately, according to German Chancellor Angela Merkel, the EU leaders prevailed in pushing up the contribution of the banks.We actually at our level only made one offer. The representatives of the banks took it back to other banks,she told reporters. This was our last offer. In the end we got their approval.Asked whether the EU leaders ever threatened the banks with an imposed haircut, which would have entailed a hard Greek default, she replied: “Since an offer was made, we never hit that point, but clear a voluntary contribution was preferred so we didn't need to think about the other option.Van Rompuy also announced that eurozone leaders had agreed a plan to leverage the area’s rescue fund, the European Financial Stability Facility (EFSF), to build a firewall of some €1 trillion, although technical details of the plan will not be decided for perhaps another month.The EFSF will now insure against first losses on the issuance of fresh sovereign debt at a level of somewhere between 20 and 30 percent while at the same time establish a number of special purpose investment vehicles, or Spivs, which hopes to attract investment from sovereign wealth funds in China and other emerging economies, and will also involve additional participation of the International Monetary Fund.Both aspects of the reinforcement of the EFSF will multiply up to five-fold the firepower of the EFSF,he said, depending on market conditions, the set-up and investors’ responsiveness in view of economic policies.

Germany makes Greece pay with sovereignty for new bail-out Today OCT 26,11 @ 05:51 By Valentina Pop

BRUSSELS - Greek sovereignty was further undermined by eurozone leaders on Thursday (27 October), as Germany demanded a durable supervision on the ground of its economic policy-making under the terms of a second €130 billion bail-out.The new rescue package, which comes with a 50 percent debt cut by private lenders and is to run until 2020, will include a monitoring capacity on the ground instead of current visits every three months by the troika of European Commission, International Monetary Fund (IMF) and European Central Bank lenders, the summit communique said.The aim of the mission will be to advise and offer assistance in order to ensure the timely and full implementation of the reforms.German Chancellor Angela Merkel pushed for the permanent presence instead of the current set-up, which sees the troika coming and going every three months,she told journalists after the meeting.As an afterthought, the leaders in their joint statement also referred to the EU commission-led task force of 25 experts who shuttle back and forth between Brussels and Athens and whose declared mission is also to help the government with reforms and tax collection.We fully support the task force on technical assistance set up by the commission,the summit declaration said.On Wednesday, the head of the task force briefed journalists in Athens and defended the legitimacy of his unit, which had been formally asked for by the Greek Prime Minister Papandreou earlier this summer after EU commission chief Barroso and EU leaders convinced him to do so.

Papandreou also freely asked for the permanent troika, according to the summit conclusions.Speaking to media on Thursday morning, Papandreou was thankful for the second bail-out and said that a default last year would have been worse than the 50-percent debt restructuring planned for January.We were guinea pigs for these bail-outs. We had to implement tough fiscal policies, we claimed European solutions, he said.But there was no bad blood towards Merkel, at least in public statements.
What the chancellor said fully complies with our position, we will be responsible in the implementation of this agreement. This will make a different country: more viable, more transparent,he said.The country that has been lending us money wishes that we succeed and we request their support. I would like them to be with us when there are issues and have discussions about it then, not three months later.But ultimately, he stressed, nobody would be responsible for rebuilding the country other than the Greek people, parliament and government.

Barroso to make sure Berlusconi keeps promises
Today OCT 27,11 @ 06:19 By Andrew Rettman

BRUSSELS - Eurozone leaders have in a public paper and in private talks tasked the European Commission with keeping Italy to a laundry list of promises on economic reform.Berlusconi: It is unclear what sanctions if any the commission has to keep him to his word (Photo: ec.europa.eu)The euro summit declaration, published in the small hours of Thursday (27 October), devoted four paragraphs to recording what Italian leader Silvo Berlusconi earlier told peers he would do to stop Rome going bust.The euro declaration added: We invite the commission to provide a detailed assessment of the measures and to monitor their implementation, and the Italian authorities to provide in a timely way all the information necessary for such an assessment.Commission chief Jose Manuel Barroso in the post-summit press briefing read out Italy's main pledges - such as balancing the budget by 2013 - and noted that Berlusconi is also bound by personal remarks made behind closed doors.The spirit of the meeting was clear - we had good exchanges about this with the prime minister of Italy and there was a very clear insistence of all the participants on the need to have concrete implementations of the agreed objectives, Barroso said.The commission in a troika with the International Monetary Fund and the European Central Bank (ECB) already monitors economic policy in euro-countries with bail-outs - Greece, Ireland and Portugal.But its solo role on Italy is comparable only to monitoring of Bulgaria and Romania on anti-corruption reforms.Commission spokesman Olivier Bailly on Thursday underlined the novel nature of the arrangement, saying: This is a first for monitoring a country not in a [EU-IMF] programme. This is enormous.Italy and its €1.8 trillion debt is at the centre of market worries over eurozone stability.Fear of an Italian default forced leaders on Thursday to boost the capacity of the EU's rescue fund, the EFSF, to €1 trillion. It also prompted French President Nicolas Sarkozy to schedule a call with China's Wen Jibao to ask him for help and saw the ECB promise it will keep buying Italian bonds for now.It remains unclear how the commission will actually hold Berlusconi to his word, however.

The Italian premier on the eve of the summit shot off a press release saying nobody in the EU can appoint themselves as supervisors or give lessons to Rome.His eccentric style was also on show on Sunday when he demanded live on TV that Italy's man on the ECB board make way for a French candidate in a reshuffle. I don't know if the TV is the best way to send out such a message, but okay. Please don't ask me any more about Italian politics,Sarkozy told media on Thursday.Even if Italy's septuagenerian playboy means what he says, his coalition partners, the nationalist Northern League, signed up to hiking the retirement age under extreme protest. Volatility in Rome was again on show on Wednesday when MPs threw punches at each other in parliament over pensions reform.Leading Italian daily La Repubblica the same day wrote that Berlusconi will step down in December or January, adding another layer of uncertainty. But the government denied the report.

Banks stonewall EU leaders on haircut
Today OCT 27,11 @ 02:34 By Leigh Phillips

BRUSSELS - Negotiations between EU leaders and representatives of the global banking industry over the scale of losses the financial institutions are willing to take on their holdings of Greek sovereign debt have all but broken down.As the EU awaits market openings with trepidation with still no deal on a resolution to the eurozone crisis in sight, in the end it is not Franco-German divisions, the stability of the government in Italy or the commitment of Greece to implement austerity, but the refusal of the world’s banks to accept deeper write-downs on their exposure to Hellenic debt that could be the straw that breaks the European camel’s back.The managing director of the Washington-based Institute for International Finance (IIF), the association representing the sector, Charles Dallara, who is leading negotiations with EU premiers and presidents over the issue, late on Wednesday (26 October) put out a statement saying no agreement has been reached.There has been no agreement on any Greek deal or a specific haircut,Dallara said, stealing a public relations march on European leaders who have remained largely silent as talks progress.We remain open to a dialogue in search of a voluntary agreement. There is no agreement on any element of a deal.It is understood that the IIF bluntly told leaders they would accept nothing higher than a 40 percent write-down. France and Germany are pushing for a haircut of 50 percent.

The International Monetary Fund (IMF) for its part has said that a cut of 70-75 percent may be needed if Greece’s debt is to be held at a sustainable level so that Athens will not indefinitely have to be attached to a drip-feed of bail-outs to keep its economy alive.EU leaders had promised that a comprehensive solution would be delivered last Sunday, only to be forced to admit that such a plan could not be agreed until Wednesday of this week due to differences between core European powers.
As of the early hours of Thursday morning, German Chancellor Angela Merkel, French President Nicolas Sarkozy, IMF boss Christine Lagarde and EU Council President Herman van Rompuy had locked themselves in a room in the European Council building in Brussels with Dallara in a desperate attempt to convince the banking chief to give ground.The two other big planks of a comprehensive solution to the eurozone debt crisis - a bank recapitalisation of around €110 billion and the modalities and scale of a boost to the eurozone’s rescue fund - have been agreed at the summit, however.Eurozone leaders backed a plan to boost the European Financial Stability Facility (EFSF) to some €1 trillion, although technical details of the plan will not be decided for perhaps another month.The EFSF will now insure against first losses on the issuance of fresh sovereign debt at a level of somewhere between 20 and 30 percent. It will at the same time establish a number of special purpose investment vehicles, or Spivs, which will hope to attract investment from sovereign wealth funds in China and other emerging economies, and will also involve additional participation of the International Monetary Fund.

EU officials do not rule out third summit this weekend 26.10.11 @ 15:38 By Leigh Phillips

With negotiations ahead of Wednesday evening's (23 October) EU and eurozone summits in chaos, EU officials have confirmed that yet another EU emergency summit may be called this weekend.A senior figure close to the discussions told EUobserver: Nothing has been decided yet. The idea has been put out there to put the frighteners on some of the actors to encourage a deal today.Separately, an official in the cabinet of EU Council President Herman Van Rompuy, when asked if another summit will be called, said only there is no news ... there is a summit today. We'll see.The bare bones of an agreement may be delivered at the end of the Wednesday or weekend summit, with the technical details to be decided at a lower level in the following days. There was technical work to be done upstream and there will be technical work to be done downstream,Olivier Bailly, a spokesman for the European Commission told reporters on Wednesday.Convergence has been reached on the scale of a second bail-out of Europe’s banks - somewhere in the range of €110 billion. But agreement is still far off on two other key elements of a comprehensive solution - the size of a haircut on bank holdings of Greek public debt and how to boost the firepower of the eurozone's rescue fund, the EFSF.

For their part, diplomats are becoming increasingly exasperated.One gloomy figure told this website: I'm tired of it all. I just want to get out of here. They have to realise we're talking about the destruction of Europe here.Another downcast individual said: Whether it'll be enough is perhaps a bit on the hopeful side. There's not much optimism in the air with so many obstacles.Describing the situation as chaotic, he added there is a network of parallel discussions and negotiations going on in capitals, here in Brussels, at all different kinds of levels. It's such a complex thing.

Banks playing hardball

Fury at the position of the Institute for International Finance, the trade association of the world’s banks, is bubbling over, with one EU official noting that the banks have already been bailed out to the tune of €4.6 trillion.The IIF is thought to be refusing to budge from a maximum of a 40 percent haircut while the EU is pushing for between 50 and 60 percent. There is frustration at all levels,the contact said of the IIF. They’re playing hardball.So much of the grand bargain in the offing depends on the willingness of European and international banks to accept a substantial but voluntary haircut on their holdings of public debt. The imposition of a write-down would be viewed as a default, with unforeseen consequences on world markets.The International Monetary Fund for its part, which has consistently taken a harder line on the banks than the EU and the European Central Bank throughout the crisis, is not ruling out the need for a haircut as high as 75 percent, according to a report in the Wall Street Journal.If you were a bank and you saw Europe on the edge, what would you do? You hold all the cards,said one diplomat regarding the discussions with the banking association.
Two-shirter expected

EUobserver spoke to a range of EU officials to gauge their hopes for the evening.All paint a grim picture of the ad hoc organisation behind the scenes, saying they are unclear who is responsible for circulating information.It's difficult. Anyone who says it's gonna be a cake-walk is lying through their teeth,said the most optimistic of the characters interviewed.But when the crisis is big, big things happen.Even this individual said that he was prepared for the meeting to go through the night and into Thursday morning: I've brought a clean shirt and have two bananas at the office so I can last.

EU task force in Athens denies harming Greek sovereignty 26.10.11 @ 20:30 By Valentina Pop

Brussels - The EU task force advising the Greek government on reforms demanded by international lenders defended its legitimacy on Wednesday (26 October), saying it is not eroding the country's sovereignty, just hours after Germany demanded permanent foreign supervision of Athens.Headed by a German EU official, Horst Reichenbach, the 25-strong task force was launched on 20 July, just one day ahead of an EU summit paving the way for a second Greek bail-out under strict reform demands notably from Germany, the largest contributor to the eurozone lifelines.Speaking to media in Athens on Wednesday, Reichenbach set out areas his team is focusing on: health care and public administration reforms, tax collection and increased spending of EU structural funds.Amid reports of shortages of medicine, hospital equipment and blood, the German official said his team was ready to help the Greek health ministry in reducing the expenditure for pharmaceuticals because Greece has much higher expenditure for pharma than other member states.Reichenbach insisted that his work was not to rubberstamp or criticise plans by the Greek ministers, but to facilitate expertise and help from the EU commission and member states. For instance, experts from France and Germany could help Greek magistrates in changing the system so as to accelerate court cases, he said.Clearly, concerns about sovereignty should be taken seriously,he said in response to a question.The justification of the task force lies in the fact that the Prime Minister of Greece has asked for such support from the European Commission,he explained.If it had been the commission who took the initiative and imposed it on Greece I would feel much less convinced this is the way to go ahead,he added.

The task force was however a plan floated by EU commission chief Barroso and supported by the 23-24 June European council consultations with Prime Minister Papandreou,according to a statement by the EU commission itself.Earlier on Wednesday, German Chancellor Angela Merkel spelled out her vision for the future in Greece: even more foreign supervision.It's not enough that the troika [EU-IMF-ECB] comes and goes every three months. It would be desirable to have a permanent supervision in Greece,she told the Bundestag before flying to Brussels where she intended to bring this up.A spokesman for the Greek mission in Brussels refused to comment on the Merkel statements and only said that the EU task force was asked for by his Prime Minister.

Merkel wants permanent supervision of Greece, warns of war 26.10.11 @ 15:31 By Valentina Pop

Brussels - Peace should not be taken for granted if the euro fails, German chancellor Merkel told MPs Wednesday (26 October) ahead of the eurozone summit where an increase of the bail-out fund firepower may lead to Germany's own state assets being taken as collateral.In a dark blue jacket reflecting the mood in and about the eurozone, Merkel abandoned her usual cautious rhetoric warned outright of a war.
Nobody should take for granted another 50 years of peace and prosperity in Europe. They are not for granted. That's why I say: If the euro fails, Europe fails, Merkel said, followed by a long applause from all political groups.We have a historical obligation: To protect by all means Europe's unification process begun by our forefathers after centuries of hatred and blood spill. None of us can foresee what the consequences would be if we were to fail.It cannot be that sometime in the future they say the political generation responsible for Europe in the second decade of the 21 century has failed in the face of history,the chancellor continued.She was asking for the parliament's political green light on a negotiation mandate for the EU summit, beginning later today in Brussels. The summit is seeking to increase the firepower of the €440 billion-strong European Financial Stability Facility (EFSF) to stop the sovereign debt crisis spreading to countries like Italy and ultimately, France.The Bundestag approved the measure by a large majority, with 503 members in favour, 89 opposing and four abstaining.

German risks

While stressing that Germany's contribution to the EFSF loan guarantees would continue to be capped at €211 billion, she said she could not exclude there may be risks for Germany linked to the EFSF increase of firepower. Her own party colleagues had demanded that she clearly excludes German state assets, such as the central bank's gold reserves, to be put as collateral for the EFSF lending power.Nobody can clearly estimate if there will be such risks. What I can say is that we cannot exclude it,she said, insisting that the current situation is pushing European leaders into uncharted territories.Not to take these risks would be irresponsible. There is no better and more sensible alternative. Europe and the world are looking at Germany,the chancellor said.Looking ahead to the summit, the chancellor repeated her long-standing stance that there is no silver bullet, no simple solutions. We will still deal with these topics for years from now.She repeated her insistence that the EU treaty had to be changed, in the medium term, to be more strict on countries breaching the euro deficit rules.Where does it say that any treaty change has to take 10 years or that there should be no more changes after the Lisbon Treaty,she asked.EU leaders last Sunday agreed to have an evaluation presented to them in December by council chief Herman Van Rompuy about the possibility for a limited treaty change.

Permanent supervision for Greece

On the three euro-countries currently propped by EU-IMF loans, Merkel said Ireland was on the right path, Portugal showed it could implement the promised reforms, while Greece was still at the beginning of a long road.For the first time, as opposition MPs noted later on in the debate, Merkel had words of praise for the ordinary Greek citizens feeling the brunt of the austerity measures demanded by international lenders. People in Greece have to stomach a lot of sacrifices. They deserve our respect and also a sustainable growth perspective in the eurozone.According to the latest report of the so-called troika, consisting of experts sent from the European Commission, the European Central Bank and the International Monetary Fund, Greece will need even higher debt restructuring and losses for private lenders compared to what EU leaders had agreed upon on 21 July.
But debt restructuring alone does not solve the problem. Painful structural reforms have to be made, otherwise even after debt restructuring we're back to where we are today,Merkel warned.

That's why, she said, Greece would have to be assisted for quite some time.It's not enough that the troika comes and goes every three months. It would be desirable to have a permanent supervision in Greece,she said, adding that this issue would be brought up at the summit.In return for what seems to be an unprecedented sovereignty loss in an old EU member state, Merkel promised German investments and mentioned a meeting of local representatives from Germany and Greece in the coming weeks.We want Greece to be back on its feet again as soon as possible and will do everything we can to this end, she concluded.Her junior coalition party, the Liberal Free Democrats (FDP), had less sympathy for Greece, however. Rainer Bruederle, leader of the FDP group, said that the troika had given Athens a D and that nobody expects Greece to turn into an A student over night, as it was now just like eastern-European transition countries 20 years ago.Sticking to the teacher-pupil metaphor, Bruederle urged Greeks to do their homework and said the country could not be funded endlessly like a bottomless pit.The leftist opposition was outraged, with Die Linke leader Gregor Gysi pointing out that austerity has forced 27,000 small and medium enterprises to go bankrupt in Greece and that teachers earn as little as €1,000 a month. What more do you want from them? Do you want them to starve to death? he said.

Promo Video For DHS-Backed Spy Street Lights Pulled From You Tube-Company gets nervous after creepy Intellistreets concept exposed by Drudge Report Paul Joseph Watson Infowars.com Wednesday, October 26, 2011
http://www.youtube.com/watch?v=Qw10eKxaSDY&feature=player_embedded

The company behind a Department of Homeland Security-funded project to install street lights that double as sophisticated surveillance devices pulled its promo video for Intellistreets from You Tube hours after our article drawing attention to the issue was linked on the popular Drudge Report website.

You Tube

Having initially disabled comments on the You Tube clip, Illuminating Concepts yanked the video entirely this afternoon, presumably nervous about the negative publicity that could be generated from concerns about new high-tech street lights being used for Homeland Security purposes – their words, not ours.However, having gone to the trouble of putting together a promotional video for their product, and having already started installing the system in the city of Farmington Hills, Michigan with the aid of federal funding, the fact that the company attempted to prevent people learning about the Homeland Security applications for the street lights speaks volumes.If Intellistreets is such a cutting edge concept that presents an array of wonderful benefits, as the promo video claims, then why remove it from You Tube? It’s almost like a kid getting caught with his hand in the cookie jar.Now that the company has tried to hide the video, it will only generate more suspicion about the true purpose behind Intellistreets and the level of involvement on behalf of Homeland Security.As we documented earlier today, Intellistreets is even more frightening a concept than the DHS-funded surveillance cameras that have blanketed America. Not only does this system have video surveillance capabilities, it also includes audio sensors and speaker systems that will be used by authorities to promote civic awareness,presumably in the same vein as Homeland Security’s telescreens in Wal-Mart stores that feature a message from Janet Napolitano encouraging Americans to spy on each other and report suspicious activity.Using street lights as Minority Report-style broadcasting platforms for advertising and government propaganda also dovetails with the Obama administration’s agenda to have complete control over communications by means of the Emergency Alert System and the program to have all new cell phones display mandatory emergency messages from the federal government by next year.You can still watch a duplicate of the video for Intellistreets below (until that too is pulled). The video is also still available on the company’s website.