OIL spill 1st in story 1, Global markets in story 2 And a hot spot in climate change in story 3.
May 20, 2006, 11:12PM2,000 Gallons of Oil Spilled Near Oahu, © 2006 The Associated Press
HONOLULU — An oil tanker spilled up to 2,000 gallons of crude oil into the Pacific Ocean on Saturday morning, an official said.The Coast Guard and the state Health Department categorized it as a minimal spill, said Nathan Hokama, spokesman for Tesoro Corp., which owns the tanker. There were no immediate reports of harm to wildlife.The spill occurred about 1.5 miles off the coast of Oahu when a hose line pumping oil from the tanker to a floating buoy disconnected, Hokama said.
The only thing we know right now is that one of the couplings in the hose separated, which is what it's supposed to do whenever there's a strain on the hose," he said. Crews from the Clean Islands Council and the Marine Spill Response Corporation helped with cleanup. The light crude oil may have dissipated quickly because of strong sunshine and choppy waters, Hokama said. Any potential fines would be assessed based on the results of an investigation, he said.
STORY 2
WELL THE GLOBAL MARKETS NEVER COLLAPSED THIS TIME BUT THEY ARE ON EARTHAKE (SHAKY) GROUNDS. ONE OF THESE TIMES IT WILL BE THE COLLAPSE THE BIBLE SAYS WILL HAPPEN IN THE FUTURE.
Ten days that shook the world's markets US interest rate fears sparked a torrid fortnight, with £45bn wiped off London share prices. What will happen next, asks Heather Stewart Sunday May 21, 2006 The Observer
From Stockholm to Tokyo, New York to Istanbul, market mayhem swept across the world last week, unleashing violent movements on stock markets and foreign exchanges everywhere, and hammering down the price of commodities such as copper and gold. In London, the FTSE 100 suffered its worst day for more than three years on Wednesday, before ending the week at 5,672, more than 4 per cent down in five days' trading. After a febrile fortnight, analysts are asking themselves if the turmoil is over - or whether the sell-off marked the end of the three-year bull market and the dawn of a much more volatile era.
Stephen Lewis, of bankers Insinger de Beaufort, says it's too early to write off the risk that the events of the past few days could be the trigger for a full-blown financial crisis. 'Volatility rises, to the extent that it has in equity and commodity markets in recent days, when emotions take over; when actions in the markets are forced; when survival is at stake. In such circumstances, there can be no reliable forecasts of how far markets will move,' he warned. The worldwide wobble started with the dollar. A warning from G7 finance ministers last month about imbalances in the global economy, and a hint from Federal Reserve chairman Ben Bernanke that he might halt the rise in interest rates, brought the greenback bears out of hiding, and triggered a frenzy of selling.
But over the past few tumultuous days alarm has spread far beyond the currency markets. 'The equity markets were standing rather naively on the sidelines, and suddenly they've woken up,' says David Bloom, currency strategist at HSBC, who has long predicted a dollar shake-out. 'Markets have been looking very vulnerable,' said Julian Jessop, international economist at Capital Economics. 'There have been some bubbles developing, particularly in commodities. All investors are waking up to an alarming new world. After five years in which credit has been plentiful as central banks kept the cash taps on, the cost of borrowing has gradually begun to grind upwards. In the US, the Federal Reserve has raised interest rates 16 times, to 5 per cent, from 1 per cent two years ago. The European Central Bank has also raised borrowing costs, and even Japan, the home of the zero interest rate for many years, has responded to a stronger economy by promising to start tightening monetary policy.
In this new climate, with money rapidly becoming more expensive, investors will be less keen to take enormous bets using borrowed cash. The unwinding of some of these risky positions was responsible for some of last week's upheaval. Everyone and his dog has leveraged up to the eyeballs buying everything they can get their hands on,' said Charles Dumas, of Lombard Street Research. 'Now liquidity's drying up because interest rates are high; bond yields are high; everyone's finding their funding drying up. One extreme example of this is what analysts call the 'yen carry trade': investors have been taking advantage of zero interest rates in Japan, borrowing the money to take bets in other markets. With rates in Japan on the way up, they have been hurriedly extricating themselves: and that has hit risky but high-yielding assets, such as emerging market bonds. Turkey took a pounding last week, for example, as nervous investors pulled their cash back home.
We think that there's been a very big shake-out in some of the asset classes where people had become very extended, especially emerging markets and commodities,' said Peter Oppenheimer, European head of portfolio strategy at Goldman Sachs. As if this 'liquidity drain,' as Lewis calls it, wasn't enough to spook the markets, it is happening at a time when the Federal Reserve, the world's most important central bank, is in the hands of a new boy - former Princeton academic Bernanke. He has to win the confidence of the markets at the same time as deciding on the right time to stop increasing US interest rates. If he pushes borrowing costs too high, the US economy could be plunged into recession; if he stops too soon, the markets will fear that inflation is about to get out of control.
He's between a rock and a hard place,' said Dresdner currency analyst Sonja Marten. 'It's a very tricky situation. There is going to be that risk of a hard landing, and that's what the markets are not sure about. Goldman Sachs analysts call this the 'Bernanke bind' and, at the margins, it could increase the anxiety in the markets over the months ahead. 'They're going to pressure Bernanke, which could be bad,' says Dumas. Through the fog of market panic last week, analysts said it was important not to forget the underlying economic causes of the upheaval. For several years now, economists have been watching with growing alarm as the US spent more than it earned, running up a record current account deficit with the rest of the world - worth almost 7 per cent of GDP last year.
Funding all that surplus spending has been easy, because foreign investors - notably governments in Asia and the Middle East - have been happy to gobble up American assets, including US Treasury bonds. But, just like an overdraft, the current account deficit can't go on growing indefinitely: something has to give. Most experts have believed for some time that a devaluation in the dollar would be the best way of helping to bring America's income and expenditure back into line. It should make US goods cheaper, helping American exporters while slowing down imports, which will become more expensive for Americans to buy. The weakening in the dollar over the past couple of weeks could be seen as the first step towards this 'rebalancing'.
All this might sound like the concern of academic number-crunchers. But the US current account deficit has a more homely analogue in the finances of the small-town American household. Buoyed by low interest rates and a property boom, consumers have, quite simply, been spending more than they earn. The savings ratio - the proportion of the average worker's take-home pay that is squirrelled away for a rainy day - has slipped below zero. With interest rates rising, and signs emerging that the frothy property market is on the turn, American homeowners may respond by acting to put their finances back in order. That could mean a downturn, or at worse a recession, in the US economy. If the housing market in the US slows sharply, then that will drag down the economy as a whole,' says Jessop. And when America sneezes, the rest of the world catches a cold: European Union politicians have already started to sound the alarm about the impact of a stronger euro on exporters, for example, and China would be hit hard if US demand for its products plummeted.
For the UK, too, if the rise in sterling against the dollar is sustained, the economic consequences could be painful, particularly when combined with an American slowdown. At the beginning of last week, economists were betting on an early rise in interest rates; but the Bank could find the stronger pound does the same job. This economic story will play out over months, not at the breakneck speed of the financial markets, and it is hard to predict how its ramifications will ripple across the world. 'There's no new trend established yet,' said HSBC's Bloom. 'It's an unsettled time.' But Bernanke, whose hands are on the world's most important economic lever, will have to hope he isn't forced to win the confidence of the markets the way his predecessor, Alan Greenspan, did - by stepping in to stop the stock market crash of 1987 turning into a global financial crisis.
STORY 3
Natural ReactionHotspot for climate changeAnne Zammit
EXPERTS on tropical glaciers have been racing with climate change to reach one of the loneliest places on the planet before it melts. Seldom visited by local tribes, the highlands of New Guinea are shielded from watchful satellites by constant cloud cover. Critical information on how the climate works is locked inside these glaciers at the heart of the El Niño region where Pacific ocean temperatures are warmer than usual.
The glaciers around Mount Jaya have retreated 300 metres over the past three decades, displaying the highest rate of global warming for the region. New species, such as a tree kangaroo, which have only just been discovered on this vast Asian island, are under threat from the rise in temperature. Habitats in the higher altitudes are heating up more quickly than the lowlands.
Another shock surprise this year has been the dramatic slowing of vital Atlantic Ocean currents. If the trend is to continue, scientists fear that it might plunge Europe into winter. A climate change index has been developed to rank regions according to the severity of climate change expected by the end of this century. The Mediterranean can expect less rainfall overall but more variability in summer rain, making both droughts and flash floods more likely. Also high on the list of climate change extremes is north eastern Europe which looks set to see more snow.
Climate change is no longer perceived as predominantly an environmental issue, but is beginning to impact directly on people's lives. The carbon-based economy has been described as an "uncontrolled experiment" with the global climate, with serious risks for ecosystems, business and human health. It was noted at a UN climate meeting in New York held earlier this month that climate impacts will affect not only the environment but also social and economic systems. Agricultural production and food security, fisheries, coastal zone management and public health are all threatened.
We may not be preparing ourselves well enough for the risk of abrupt and runaway climate change. Damages from rising seas, extreme weather and ecosystem collapse are already becoming apparent. We can pay the price in terms of renewable energy, energy efficiency and emission reduction investments now... or we can pay later, perhaps with our lives.Rapid and more frequent climatic changes are now becoming increasingly apparent to most countries and the next five to 20 years are expected to show more examples of adverse impacts while current investments to mitigate the causes are negligible.
The EU has decided to meet its requirements to offset climate change under the Kyoto Protocol as a whole, rather than as individual signatories, with each member state given a different emissions target by the EU Commission. The targeted cut in greenhouse gas emissions by at least five per cent below 1990 levels must be met between 2008 and 2012. Emissions trading has been introduced to give some flexibility while keeping total emissions within the overall capped level. Individual installations may emit more than their allocation on condition that they can find another trader that has emitted less than allowed and is willing to sell their unused allowance. A draft of the National Allocation Plan for Malta for 2008-2012 is open for public comment on the MEPA Website until May 29.
Costing the changes
An estimate that it would take $325 billion for the United States to meet the Kyoto Protocol targets on cutting emissions led the Bush administration to claim that the benefits did not justify its costs. As The Washington Post of May 9 has pointed out, the cost of the Iraq war, now in excess of $300 billion, is close to what it would cost the US to implement the Kyoto Protocol. This amount is exactly what the World Bank estimates it would cost to meet the needs of people in developing countries through more efficient and cleaner sources of energy.
The European Environment Agency calculates that action to combat climate change will deliver considerable benefits. Europe would save €10 billion a year on air pollution control and see 20,000 fewer premature deaths with a drop in damage to ecosystems. The price for conventional energy sources has been increasing and will do so further, but the price for renewable energy will decrease due to the development of technologies and economies of scale.
Surprisingly, funding for EU research projects in renewable energy and energy efficiency have dropped. The inter-parliamentary European Forum for Renewable Energy Sources has urged that the research budget for renewables in the upcoming FP-7 research programme must be significantly increased.
It may be some time before renewable energy sources are able to deliver the large amounts of energy required for bulk energy for most countries. The National Commission for Sustainable Development which met earlier this month augured that appropriate policies and incentives combined with more resources for research and development could shorten this time.
Sunday, May 21, 2006
EU NAVY
THE EU WANTS ITS OWN NAVY FLEET, TO GO WITH THEIR RAPID REACTION FORCE. I'D SAY THE EU ARMY IS COMING TOGETHER!!!!!!!!!! WOULD YOU.!!!!!!!!!!!!!
Full steam ahead: Brussels draws up plan for 'EU navy'By Justin Stares in Brussels (Filed: 21/05/2006)
The European Commission has drawn up plans to set up a European coastguard, which critics fear is a back-door attempt by Brussels to create an EU navy with its own powers to stop and search shipping. Plans to upgrade the European Maritime Safety Agency (EMSA) into a fully-fledged coastguard are buried in a document revising European Union (EU) transport policy that is due to be published next month.
Armed coastguard will be embryonic naval service. They come on the back of other "empire building" moves by Brussels, including a planned EU army, a common foreign policy and diplomatic service, and a European-wide policy on energy.
The commission says a European coastguard would help to enforce maritime legislation. It would have the authority to intercept shipping across all of Europe's traditional maritime borders, which could require that crews be armed - and raises questions of national sovereignty over coastal waters. Lloyd's List, the daily newspaper which covers the maritime industry, accused the commission of attempting to build up a navy by stealth in a leading article last week.
The concept of a European coastguard has a federalist charm about it that causes eyes to brighten instantly among gatherings of Europhiles, tired of endless discussions about fish or agriculture," the newspaper said. "In a way, it is a European navy, by the back door. Julian Brazier, the shadow shipping minister, said: "This is very worrying news. It seems the empire building ambitions of Brussels know no bounds. The drift towards an EU navy must be stopped. Mr Brazier has tabled a parliamentary question demanding to know the Government's position on the EU coastguard plans.The plan would be a betrayal of the maritime history of our country and the tens of thousands of men and women currently involved in our maritime sector," he said.
The commission document is written in French and entitled Préparer la Mobilité de Demain (Preparing Tomorrow's Mobility). In it, the commission says it believes the time has come to consider the "concept of a European coastguard". Such a body would improve passenger safety at sea and environmental protection legislation, it says.Its main role initially would be to avert maritime pollution disasters, such as the oil slick that devastated French and Spanish Atlantic coasts in 2002, when the aged Prestige tanker snapped in half. The coastguard would be easy to implement, the commission notes, because the EU can "from today call on the support of the safety agencies, including EMSA.
The Lisbon-based agency came to life two years ago as a technical body to help the commission to draw up maritime legislation. But its remit and staffing levels have increased rapidly since then. It controls a small fleet of ships and has a staff of around 120 - more than twice the number originally envisaged.
The European parliament has long supported forming an EU coastguard, claiming that the principle of the coastguard is already accepted by all EU governments, including Britain. The Council of Ministers, the institution that represents governments in Brussels, last year agreed to a feasibility study on its creation. Until now, however, it has not been official EU policy. Critics say a European coastguard would be more complicated to set up than a European army because national coastguards today have varying functions, both military and civil. Willem de Ruiter, the executive director of EMSA, says talk of the agency becoming a fully-fledged coastguard was far-fetched and unrealistic. He said: "Many people don't understand what they mean when they say 'coastguard'. Are they talking about military operations or civil operations, or both?
Full steam ahead: Brussels draws up plan for 'EU navy'By Justin Stares in Brussels (Filed: 21/05/2006)
The European Commission has drawn up plans to set up a European coastguard, which critics fear is a back-door attempt by Brussels to create an EU navy with its own powers to stop and search shipping. Plans to upgrade the European Maritime Safety Agency (EMSA) into a fully-fledged coastguard are buried in a document revising European Union (EU) transport policy that is due to be published next month.
Armed coastguard will be embryonic naval service. They come on the back of other "empire building" moves by Brussels, including a planned EU army, a common foreign policy and diplomatic service, and a European-wide policy on energy.
The commission says a European coastguard would help to enforce maritime legislation. It would have the authority to intercept shipping across all of Europe's traditional maritime borders, which could require that crews be armed - and raises questions of national sovereignty over coastal waters. Lloyd's List, the daily newspaper which covers the maritime industry, accused the commission of attempting to build up a navy by stealth in a leading article last week.
The concept of a European coastguard has a federalist charm about it that causes eyes to brighten instantly among gatherings of Europhiles, tired of endless discussions about fish or agriculture," the newspaper said. "In a way, it is a European navy, by the back door. Julian Brazier, the shadow shipping minister, said: "This is very worrying news. It seems the empire building ambitions of Brussels know no bounds. The drift towards an EU navy must be stopped. Mr Brazier has tabled a parliamentary question demanding to know the Government's position on the EU coastguard plans.The plan would be a betrayal of the maritime history of our country and the tens of thousands of men and women currently involved in our maritime sector," he said.
The commission document is written in French and entitled Préparer la Mobilité de Demain (Preparing Tomorrow's Mobility). In it, the commission says it believes the time has come to consider the "concept of a European coastguard". Such a body would improve passenger safety at sea and environmental protection legislation, it says.Its main role initially would be to avert maritime pollution disasters, such as the oil slick that devastated French and Spanish Atlantic coasts in 2002, when the aged Prestige tanker snapped in half. The coastguard would be easy to implement, the commission notes, because the EU can "from today call on the support of the safety agencies, including EMSA.
The Lisbon-based agency came to life two years ago as a technical body to help the commission to draw up maritime legislation. But its remit and staffing levels have increased rapidly since then. It controls a small fleet of ships and has a staff of around 120 - more than twice the number originally envisaged.
The European parliament has long supported forming an EU coastguard, claiming that the principle of the coastguard is already accepted by all EU governments, including Britain. The Council of Ministers, the institution that represents governments in Brussels, last year agreed to a feasibility study on its creation. Until now, however, it has not been official EU policy. Critics say a European coastguard would be more complicated to set up than a European army because national coastguards today have varying functions, both military and civil. Willem de Ruiter, the executive director of EMSA, says talk of the agency becoming a fully-fledged coastguard was far-fetched and unrealistic. He said: "Many people don't understand what they mean when they say 'coastguard'. Are they talking about military operations or civil operations, or both?
FIRES IN ALBERTA RUSSIA
Stories on this day in history. FIRES IN ALBERTA , CHINA, GOLD PLUNGES IN DEHLI AND NEW ZEALAND FREE TRADE DEAL NEXT YEAR LIKELY.
Alberta forest fires out of controlCanadian Press
WHITECOURT, Alta. — A wildfire almost twice as large as another one that had been threatening in west-central Alberta was burning out of control in the forests of the province's northwest. Officials said the fire near Whitecourt was believed to have chewed through 15 square kilometres. They had planned to fly over the site overnight Friday with infrared equipment to determine its size. Winds from the east were blowing the long and narrow fire towards the west where the province's Eagle Tower lookout was evacuated. The Virginia Hills Road near Highway 43 was also closed.
Meanwhile, weary firefighters finally managed to get a handle on what had previously been Alberta's largest forest fire.The status of the Burnstick Lake fire in west-central Alberta was changed from out of control to being held. Fire officials said they were confident the blaze would not spread any further.An evacuation notice issued to residents near Caroline, Rocky Mountain House and several campgrounds was lifted as a result. Flames swept through almost nine square kilometres of mature timber and clearcuts on Crown land in the five days the fire burned out of control.
At its height, crowns of trees were exploding in flames, and more than 100 firefighters were involved in battling the blaze.Fire officials feared the blaze would continue to grow over the May long weekend, but forecast winds never materialized.The fire is not expected to spread, based on the resources we have, and on the forecasted weather," said Rob Harris, provincial wildfire information officer.Sundre Forest Products will attempt to harvest salvageable scorched timber within the next month.There are 15 fires burning in Alberta's forest protection area. Crews have already been called to 529 fires this season.Open burning has been banned in a large area of southwestern Alberta.
More than 90 fires rage in eastern Russia
KHABAROVSK, Russia, May 20 (UPI) -- Raging fires in Russia's far east have destroyed almost 1.4 million acres of forest, particularly in the Amur region. More than 1,000 firefighters have mobilized to put out the fires. Thirty-two fires have been suppressed and 10 localized, but new fires have sprung up, Itar-Tass reported. The number of fires is almost four times worse than during the same time period last year. The Amur region alone has already lost close to a million acres. Forest experts have said the conflagrations are not putting towns or businesses at risk.
Gold prices plunge, back in four digits Press Trust Of India Posted Saturday , May 20, 2006 at 19:29Updated Saturday , May 20, 2006 at 19:38.
New Delhi: Gold prices tumbled on the bullion market on Saturday due to aggressive selling by stockists influenced by weakening overseas trend amid drying demand in local markets due to off marriage season.Gold was down by Rs 340 at Rs 9,910 per ten gram in the absence of buying by retail customers and jewellery fabricators, as stockists continued to sell on reports the metal in overseas markets revealed an over night heavy loss.Gold fell 7.8 percent in the week to 659.20 dollar an ounce in London, dropping from a 26-year high of 730.40 dollar on May 12 and silver rising a record level over 14.50 dollar.
A similar weak trend was noticed in silver on reduced offtake by industrial units and stockists, against reports of new stocks coming from neighbouring states.Marketmen said the ending marriage season at this time dampened trading sentiment, which was already passing through a rough patch.They said the activity in the market remained dull as most of the retail customers extended their decision to buy gold at prevailing high levels in the last few days.Standard gold and ornaments dropped by Rs 340 each at Rs 9910 and Rs 9760 per ten gram respectively. Sovereign dropped by Rs 200 at Rs 8000 per piece of eight gram.
Silver ready plunged by Rs 700 at Rs 19,100 per kilo and weekly-based delivery by Rs 2560 per kilo as speculators unwind their long positions in view of a fall in its prices in overseas markets last night.Silver coins were unchanged at Rs 23,000 for buying and Rs 23,200 for selling of 100 pieces.
GCC-New Zealand free trade deal likely next year By Mariam Al Hakeem,
Correspondent Riyadh: The GCC states and New Zealand are expected to sign a free trade agreement next year. A source in the New Zealand embassy in Riyadh told Gulf News that there is a strong chance of signing the trade agreement, especially after the recent visit of Trade Minister Phil Goff to the Gulf. According to a source, negotiators will start intensive, wide-ranging talks to work out details of a free trade accord this year.The vast Gulf market, and its exports of petro-leum products, especially petrochemical products from Saudi Arabia, will be the major basis for the agreement," the source said.
Major breakthrough
The volume of New Zealand's exports to the six GCC states reached $500 million last year and its imports from the GCC, mainly oil and petrochemical products, has exceeded $1 billion. Meanwhile, the forthcoming talks between the European Trade Commission and the GCC are expected to be a major breakthrough in overcoming the bottlenecks in the establishment of a much-awaited GCC-EU free trade zone, said a senior GCC official.Saudi Deputy Finance Minister for Economic Affairs Dr. Hamad Al Bazie, who is heading the Gulf team in the trade talks with the European Union, told reporters here yesterday that the date for the talks has yet to be fixed.
The recent meeting of the Ministerial Council of the GCC and the European Union, held in Brussels, stressed the need to accelerate the procedures to conclude the free trade agreement. The meeting also agreed to hold talks between the European Trade Commission and the relevant GCC ministers to solve the outstanding issues, mainly concerned with the services sector and government purchasing,he said. According to Al Bazie, the GCC states have completed the procedures in this respect and presented them to the concerned agencies with the hope of signing a final agreement with the Europeans.
Alberta forest fires out of controlCanadian Press
WHITECOURT, Alta. — A wildfire almost twice as large as another one that had been threatening in west-central Alberta was burning out of control in the forests of the province's northwest. Officials said the fire near Whitecourt was believed to have chewed through 15 square kilometres. They had planned to fly over the site overnight Friday with infrared equipment to determine its size. Winds from the east were blowing the long and narrow fire towards the west where the province's Eagle Tower lookout was evacuated. The Virginia Hills Road near Highway 43 was also closed.
Meanwhile, weary firefighters finally managed to get a handle on what had previously been Alberta's largest forest fire.The status of the Burnstick Lake fire in west-central Alberta was changed from out of control to being held. Fire officials said they were confident the blaze would not spread any further.An evacuation notice issued to residents near Caroline, Rocky Mountain House and several campgrounds was lifted as a result. Flames swept through almost nine square kilometres of mature timber and clearcuts on Crown land in the five days the fire burned out of control.
At its height, crowns of trees were exploding in flames, and more than 100 firefighters were involved in battling the blaze.Fire officials feared the blaze would continue to grow over the May long weekend, but forecast winds never materialized.The fire is not expected to spread, based on the resources we have, and on the forecasted weather," said Rob Harris, provincial wildfire information officer.Sundre Forest Products will attempt to harvest salvageable scorched timber within the next month.There are 15 fires burning in Alberta's forest protection area. Crews have already been called to 529 fires this season.Open burning has been banned in a large area of southwestern Alberta.
More than 90 fires rage in eastern Russia
KHABAROVSK, Russia, May 20 (UPI) -- Raging fires in Russia's far east have destroyed almost 1.4 million acres of forest, particularly in the Amur region. More than 1,000 firefighters have mobilized to put out the fires. Thirty-two fires have been suppressed and 10 localized, but new fires have sprung up, Itar-Tass reported. The number of fires is almost four times worse than during the same time period last year. The Amur region alone has already lost close to a million acres. Forest experts have said the conflagrations are not putting towns or businesses at risk.
Gold prices plunge, back in four digits Press Trust Of India Posted Saturday , May 20, 2006 at 19:29Updated Saturday , May 20, 2006 at 19:38.
New Delhi: Gold prices tumbled on the bullion market on Saturday due to aggressive selling by stockists influenced by weakening overseas trend amid drying demand in local markets due to off marriage season.Gold was down by Rs 340 at Rs 9,910 per ten gram in the absence of buying by retail customers and jewellery fabricators, as stockists continued to sell on reports the metal in overseas markets revealed an over night heavy loss.Gold fell 7.8 percent in the week to 659.20 dollar an ounce in London, dropping from a 26-year high of 730.40 dollar on May 12 and silver rising a record level over 14.50 dollar.
A similar weak trend was noticed in silver on reduced offtake by industrial units and stockists, against reports of new stocks coming from neighbouring states.Marketmen said the ending marriage season at this time dampened trading sentiment, which was already passing through a rough patch.They said the activity in the market remained dull as most of the retail customers extended their decision to buy gold at prevailing high levels in the last few days.Standard gold and ornaments dropped by Rs 340 each at Rs 9910 and Rs 9760 per ten gram respectively. Sovereign dropped by Rs 200 at Rs 8000 per piece of eight gram.
Silver ready plunged by Rs 700 at Rs 19,100 per kilo and weekly-based delivery by Rs 2560 per kilo as speculators unwind their long positions in view of a fall in its prices in overseas markets last night.Silver coins were unchanged at Rs 23,000 for buying and Rs 23,200 for selling of 100 pieces.
GCC-New Zealand free trade deal likely next year By Mariam Al Hakeem,
Correspondent Riyadh: The GCC states and New Zealand are expected to sign a free trade agreement next year. A source in the New Zealand embassy in Riyadh told Gulf News that there is a strong chance of signing the trade agreement, especially after the recent visit of Trade Minister Phil Goff to the Gulf. According to a source, negotiators will start intensive, wide-ranging talks to work out details of a free trade accord this year.The vast Gulf market, and its exports of petro-leum products, especially petrochemical products from Saudi Arabia, will be the major basis for the agreement," the source said.
Major breakthrough
The volume of New Zealand's exports to the six GCC states reached $500 million last year and its imports from the GCC, mainly oil and petrochemical products, has exceeded $1 billion. Meanwhile, the forthcoming talks between the European Trade Commission and the GCC are expected to be a major breakthrough in overcoming the bottlenecks in the establishment of a much-awaited GCC-EU free trade zone, said a senior GCC official.Saudi Deputy Finance Minister for Economic Affairs Dr. Hamad Al Bazie, who is heading the Gulf team in the trade talks with the European Union, told reporters here yesterday that the date for the talks has yet to be fixed.
The recent meeting of the Ministerial Council of the GCC and the European Union, held in Brussels, stressed the need to accelerate the procedures to conclude the free trade agreement. The meeting also agreed to hold talks between the European Trade Commission and the relevant GCC ministers to solve the outstanding issues, mainly concerned with the services sector and government purchasing,he said. According to Al Bazie, the GCC states have completed the procedures in this respect and presented them to the concerned agencies with the hope of signing a final agreement with the Europeans.
Saturday, May 20, 2006
QUEBEC FLOODING
QUEBEC gets flooding in story 1 and story 2 CHANCHU STILL KILLING PEOPLE.
Heavy rain in Quebec takes toll as one community evacuates 30 homes 58 minutes ago
COWANSVILLE, Que. (CP) - Nine straight days of rain forced a community east of Montreal to evacuate about 30 homes because of flooding. The banks of the Yamaska River began overflowing early Saturday morning, forcing about 100 people from their homes. Officials warned that more homes could be evacuated if the situation worsened, and asked residents to clear out their basements as a precaution. The Red Cross set up an emergency shelter for evacuees, and several pumps were working to keep the flooding from spreading.
Flooding was also reported in several nearby communities. A further 50 to 100 people were forced their homes in Bromont, Granby, St-Hilaire and Brigham. Environment Canada said more than 140 millimetres of rain had already fallen this month in southwestern Quebec. While that is still far from the record of 175 millimetres set in 1945, it says the nine consecutive days of rain in parts of the province have seen is unusual. Meteorologists blame the soggy conditions on a stationary weather pattern, known as an upper low system, hovering over the Great Lakes for the past several days. There are disturbances moving around the surface (which are) bringing rain, said Environment Canada's Rene Heroux on Saturday.
In the last 24 hours, the Cowansville area has received 75 millimetres of rain... and that's why there was some river flooding. Heroux said more regular weather patterns would return early in the week, bringing sunny skies with them. Cowansville is about an hour's drive east of Montreal.
Storm claims 90 lives, 200 missing,Saturday, May 20, 2006 Posted: 0718 GMT (1518 HKT)
HANOI, Vietnam (AP) -- The Asia-wide death toll from Tropical Storm Chanchu stands at nearly 90, with almost 200 Vietnamese fisherman still missing at sea, as the storm weakened Saturday off southern Japan.The missing fishermen were in two separate groups of boats in different parts of the South China Sea.
Authorities from Danang revised the number of sailors missing on Saturday, saying about 198 remained unaccounted for from both groups. Officials earlier said nearly 250 were lost. The death toll was also lowered from 28 to 24 bodies recovered. High waves in southern Japan killed one teenager and left another missing after they'd been swimming, said coast guard
spokesman Shoji Kawabata.
The storm brought rain to parts of southern and central Japan, said forecasting service Weather Underground. Earlier, Chanchu battered several areas around the South China sea after rising to typhoon strength and killed 37 in the Philippines a week ago. Eighty-seven people are confirmed to have died across the region. It was downgraded from a typhoon on Thursday as it hit China, but still caused landslides and flooding and forced the evacuation of more than 1 million people.
Landslides and collapsing buildings killed 15 people and left four missing in China's Fujian province, the provincial Water Resources Department said. Eight more people died in neighboring Guangdong province, it said.Two fishing boats from Vietnam's central city of Danang that survived the storm were returning to port with 20 corpses and four surviving sailors, said Ha Van Thong, a coast guard official from Danang. Thong said nearly 60 other survivors had been rescued from the water.
In total, 176 fishermen remained missing from the Danang group, he said. Vietnam contacted officials in China and Taiwan to assist with the rescue. Meanwhile, another 22 Vietnamese fishermen from central Quang Ngai province also remained missing after their boats were caught in the storm in a separate incident. Four bodies have been recovered from that group, said Nguyen Sau of the Quang Ngai border control. Flooding in southern Taiwan swept two women to their deaths. T.C. Lee, an official with the Hong Kong Observatory, said Chanchu was the most intense typhoon on record to strike in the South China Sea in May, an early month in the annual typhoon season.
Lee said the early arrival of the year's first typhoon did not necessarily portend an unusually active storm season, and said the observatory forecasted an average year of six to eight typhoons affecting the territory.But a Chinese meteorologist quoted by the Xinhua News Agency, Ding Yihui of the Chinese Academy of Engineering, said the storm appeared to be a sign of increasingly extreme weather events, a phenomena some scientists have linked to rising global temperatures.
Heavy rain in Quebec takes toll as one community evacuates 30 homes 58 minutes ago
COWANSVILLE, Que. (CP) - Nine straight days of rain forced a community east of Montreal to evacuate about 30 homes because of flooding. The banks of the Yamaska River began overflowing early Saturday morning, forcing about 100 people from their homes. Officials warned that more homes could be evacuated if the situation worsened, and asked residents to clear out their basements as a precaution. The Red Cross set up an emergency shelter for evacuees, and several pumps were working to keep the flooding from spreading.
Flooding was also reported in several nearby communities. A further 50 to 100 people were forced their homes in Bromont, Granby, St-Hilaire and Brigham. Environment Canada said more than 140 millimetres of rain had already fallen this month in southwestern Quebec. While that is still far from the record of 175 millimetres set in 1945, it says the nine consecutive days of rain in parts of the province have seen is unusual. Meteorologists blame the soggy conditions on a stationary weather pattern, known as an upper low system, hovering over the Great Lakes for the past several days. There are disturbances moving around the surface (which are) bringing rain, said Environment Canada's Rene Heroux on Saturday.
In the last 24 hours, the Cowansville area has received 75 millimetres of rain... and that's why there was some river flooding. Heroux said more regular weather patterns would return early in the week, bringing sunny skies with them. Cowansville is about an hour's drive east of Montreal.
Storm claims 90 lives, 200 missing,Saturday, May 20, 2006 Posted: 0718 GMT (1518 HKT)
HANOI, Vietnam (AP) -- The Asia-wide death toll from Tropical Storm Chanchu stands at nearly 90, with almost 200 Vietnamese fisherman still missing at sea, as the storm weakened Saturday off southern Japan.The missing fishermen were in two separate groups of boats in different parts of the South China Sea.
Authorities from Danang revised the number of sailors missing on Saturday, saying about 198 remained unaccounted for from both groups. Officials earlier said nearly 250 were lost. The death toll was also lowered from 28 to 24 bodies recovered. High waves in southern Japan killed one teenager and left another missing after they'd been swimming, said coast guard
spokesman Shoji Kawabata.
The storm brought rain to parts of southern and central Japan, said forecasting service Weather Underground. Earlier, Chanchu battered several areas around the South China sea after rising to typhoon strength and killed 37 in the Philippines a week ago. Eighty-seven people are confirmed to have died across the region. It was downgraded from a typhoon on Thursday as it hit China, but still caused landslides and flooding and forced the evacuation of more than 1 million people.
Landslides and collapsing buildings killed 15 people and left four missing in China's Fujian province, the provincial Water Resources Department said. Eight more people died in neighboring Guangdong province, it said.Two fishing boats from Vietnam's central city of Danang that survived the storm were returning to port with 20 corpses and four surviving sailors, said Ha Van Thong, a coast guard official from Danang. Thong said nearly 60 other survivors had been rescued from the water.
In total, 176 fishermen remained missing from the Danang group, he said. Vietnam contacted officials in China and Taiwan to assist with the rescue. Meanwhile, another 22 Vietnamese fishermen from central Quang Ngai province also remained missing after their boats were caught in the storm in a separate incident. Four bodies have been recovered from that group, said Nguyen Sau of the Quang Ngai border control. Flooding in southern Taiwan swept two women to their deaths. T.C. Lee, an official with the Hong Kong Observatory, said Chanchu was the most intense typhoon on record to strike in the South China Sea in May, an early month in the annual typhoon season.
Lee said the early arrival of the year's first typhoon did not necessarily portend an unusually active storm season, and said the observatory forecasted an average year of six to eight typhoons affecting the territory.But a Chinese meteorologist quoted by the Xinhua News Agency, Ding Yihui of the Chinese Academy of Engineering, said the storm appeared to be a sign of increasingly extreme weather events, a phenomena some scientists have linked to rising global temperatures.
ELECTION OF UN SECRETARY GENERAL
HOW IS THE SECRETARY GENERAL OF THE UN ELECTED?
Kofi Annan is leaving office this year and the race to succeed him has begun in the corridors of the UN and key capitals around the World. But how do you get to be Secretary General? Can you apply? Who decides who gets the job?
Its a big job being Secretary General of the United Nations. Your the worlds chief diplomat, a figure of tremendous moral authority. You"d think choosing Kofis succesor would involve a job description, a formal job interview, but no the decision is taken in secret inside the Security council chambers. The rest of the UN will be expected to rubber stamp the decision.
But its really the 5 permanent members of the security council who have the most power. And it could come down to just 2 countries and who they want.
If the USA and CHINA can do a deal early on then it might be over quite quickly. Many of the less powerful countries complain its unfair that the Secretary General should be chosin this way. Theres been 7 Secretary Generals of the United nations. The covention is that each region of the world gets to provide the candidates in rotation. So this time the Asians are saying its their turn.
The Asians are saying they have may qualified as well as representative candidates. The 3 candidates from Asia are Ban Ki-Moon, the South Korean foreign minister. Burakiart Sathirathai, Thailands deputy prime minister and Jayantha Dhanapala who oversaw peace talks. Their not household names, I never heard of any of them myself.
Insiders say its far to early to say who will get the top job. The insider says its very likely that who ever eventually emerges is not yet an official candidate. Whoever gets the job as UN Secretary General will be a Global figure in an uncertain world.
THE FUTURE EU DICTATOR COMES TO POWER THE SAME WAY.
This future EU politician is voted into power by the leading nations of the European Union. He will not be elected by the population at large either just like the UN does through the Security council as Revelation tells us.
DANIEL 7:23-24 Thus he said, The fourth beast shall be the fourth kingdom upon earth, which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.24 And the ten horns out of this kingdom are ten kings that shall arise: and another shall rise after them; and he shall be diverse from the first, and he shall subdue three kings.
REVELATION 17:3,9,10,12,18 So he carried me away in the spirit into the wilderness: and I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns.9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sitteth.10 And there are seven kings: five are fallen, and one is, and the other is not yet come; and when he cometh, he must continue a short space.12 And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.13 These have one mind, and shall give their power and strength unto the beast.18 And the woman which thou sawest is that great city, which reigneth over the kings of the earth.
REVELTION 6:1-2 And I saw when the Lamb opened one of the seals, and I heard, as it were the noise of thunder, one of the four beasts saying, Come and see.2 And I saw, and behold a white horse: and he that sat on him had a bow; and a crown was given unto him: and he went forth conquering, and to conquer.
REVELATION 13:1-10,16-18 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority.3 And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast.4 And they worshipped the dragon which gave power unto the beast: and they worshipped the beast, saying, Who is like unto the beast? who is able to make war with him?5 And there was given unto him a mouth speaking great things and blasphemies; and power was given unto him to continue forty and two months.6 And he opened his mouth in blasphemy against God, to blaspheme his name, and his tabernacle, and them that dwell in heaven.7 And it was given unto him to make war with the saints, and to overcome them: and power was given him over all kindreds, and tongues, and nations.8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.9 If any man have an ear, let him hear.10 He that leadeth into captivity shall go into captivity: he that killeth with the sword must be killed with the sword. Here is the patience and the faith of the saints.16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
We see in Daniel that the 4TH WORLD EMPIRE SINCE BABYLON OR THE 7TH WORLD EMPIRE in history or REVIVED ROMAN EMPIRE IS EU. This EUROPEAN EMPIRE WILL HAVE WORLD CONTROL. After it gets to 10 kings or nations in the EU another emerges #11 SPAIN and boots 3 countries from the EU.
The Leader who boots the 3 countries out becomes the world dictator of Revelation 6,13 and 17. In Revelation 17 it says the EU would be blasphemous, that happened already with the Danish muslim uproar. And the EU does not want GOD in their constitution just like REV 13 and 17 says. Then in 17:12-13 we see the Future Dictator coming to power by a system like the UN does, he is givin rulership by the 10 nations of the EU and becomes the EU PRESIDENT. Notice in 13 they all agree with the decision. They give him the political power of the EU block.
REVELATION 6 & 13 tells us what he will be like in power.
1-A LEADER OF PEACE as he SIGNS the 7 YR PEACE contract with ISRAELIS / ARABS,MANY of DANIEL 9:27.
2-A MILITARY LEADER, HE CONQUERS.
3-A BLASPHEMOUS LEADER.
4-A OCCULT LEADER-SATAN GIVES HIM HIS POWER AND STRENGTH.
5-A WORLD LEADER-GIVEN WORLD CONTROL IN VERSES 3,7,8.
6-A DECEPTIVE LEADER-HE PROSPERS THROUGH LIES AND DECEPTION.
7-A MURDEROUS LEADER-HAS PEOPLE BEHEADED FOR NOT WORSHIPPING HIM AS GOD.
8-A DICTATOR-MAKE EVERYONE RECIEVE A MICROCHIP IN THEIR HANDS OR FOREHEAD.
THE ROLE OF THE SECRETARY-GENERAL
Equal parts diplomat and advocate, civil servant and CEO, the Secretary-General is a symbol of United Nations ideals and a spokesman for the interests of the world's peoples, in particular the poor and vulnerable among them. The current Secretary-General, and the seventh occupant of the post, is Mr. Kofi A. Annan of Ghana, who took office on 1 January 1997.
The Charter describes the Secretary-General as "chief administrative officer" of the Organization, who shall act in that capacity and perform "such other functions as are entrusted" to him or her by the Security Council, General Assembly, Economic and Social Council and other United Nations organs. The Charter also empowers the Secretary-General to "bring to the attention of the Security Council any matter which in his opinion may threaten the maintenance of international peace and security". These guidelines both define the powers of the office and grant it considerable scope for action. The Secretary-General would fail if he did not take careful account of the concerns of Member States, but he must also uphold the values and moral authority of the United Nations, and speak and act for peace, even at the risk, from time to time, of challenging or disagreeing with those same Member States.
That creative tension accompanies the Secretary-General through day-to-day work that includes attendance at sessions of United Nations bodies; consultations with world leaders, government officials, and others; and worldwide travel intended to keep him in touch with the peoples of the Organization's Member States and informed about the vast array of issues of international concern that are on the Organization's agenda. Each year, the Secretary-General issues a report on the work of the United Nations that appraises its activities and outlines future priorities. The Secretary-General is also Chairman of the Administrative Committee on Coordination (ACC), which brings together the Executive Heads of all UN funds, programmes and specialized agencies twice a year in order to further coordination and cooperation in the entire range of substantive and management issues facing the United Nations System.
One of the most vital roles played by the Secretary-General is the use of his "good offices" -- steps taken publicly and in private, drawing upon his independence, impartiality and integrity, to prevent international disputes from arising, escalating or spreading. Since becoming Secretary-General, Mr. Annan has made use of his good offices in a range of situations, including Cyprus, East Timor, Iraq, Libya, Nigeria and Western Sahara.
Each Secretary-General also defines his role within the context of his particular time in office.
Previous Secretaries-General
Under the Charter, the Secretary-General is appointed by the General Assembly upon the recommendation of the Security Council. Mr. Annan's predecessors as Secretary-General were: Boutros Boutros-Ghali (Egypt), who held office from January 1992 to December 1996; Javier PÈrez de CuÈllar (Peru), who served from January 1982 to December 1991; Kurt Waldheim (Austria), who held office from January 1972 to December 1981; U Thant (Burma, now Myanmar), who served from November 1961, when he was appointed acting Secretary-General (he was formally appointed Secretary-General in November 1962) to December 1971; Dag Hammarskjˆld (Sweden), who served from April 1953 until his death in a plane crash in Africa in September 1961; and Trygve Lie (Norway), who held office from February 1946 to his resignation in November 1952.
Kofi Annan is leaving office this year and the race to succeed him has begun in the corridors of the UN and key capitals around the World. But how do you get to be Secretary General? Can you apply? Who decides who gets the job?
Its a big job being Secretary General of the United Nations. Your the worlds chief diplomat, a figure of tremendous moral authority. You"d think choosing Kofis succesor would involve a job description, a formal job interview, but no the decision is taken in secret inside the Security council chambers. The rest of the UN will be expected to rubber stamp the decision.
But its really the 5 permanent members of the security council who have the most power. And it could come down to just 2 countries and who they want.
If the USA and CHINA can do a deal early on then it might be over quite quickly. Many of the less powerful countries complain its unfair that the Secretary General should be chosin this way. Theres been 7 Secretary Generals of the United nations. The covention is that each region of the world gets to provide the candidates in rotation. So this time the Asians are saying its their turn.
The Asians are saying they have may qualified as well as representative candidates. The 3 candidates from Asia are Ban Ki-Moon, the South Korean foreign minister. Burakiart Sathirathai, Thailands deputy prime minister and Jayantha Dhanapala who oversaw peace talks. Their not household names, I never heard of any of them myself.
Insiders say its far to early to say who will get the top job. The insider says its very likely that who ever eventually emerges is not yet an official candidate. Whoever gets the job as UN Secretary General will be a Global figure in an uncertain world.
THE FUTURE EU DICTATOR COMES TO POWER THE SAME WAY.
This future EU politician is voted into power by the leading nations of the European Union. He will not be elected by the population at large either just like the UN does through the Security council as Revelation tells us.
DANIEL 7:23-24 Thus he said, The fourth beast shall be the fourth kingdom upon earth, which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.24 And the ten horns out of this kingdom are ten kings that shall arise: and another shall rise after them; and he shall be diverse from the first, and he shall subdue three kings.
REVELATION 17:3,9,10,12,18 So he carried me away in the spirit into the wilderness: and I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns.9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sitteth.10 And there are seven kings: five are fallen, and one is, and the other is not yet come; and when he cometh, he must continue a short space.12 And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.13 These have one mind, and shall give their power and strength unto the beast.18 And the woman which thou sawest is that great city, which reigneth over the kings of the earth.
REVELTION 6:1-2 And I saw when the Lamb opened one of the seals, and I heard, as it were the noise of thunder, one of the four beasts saying, Come and see.2 And I saw, and behold a white horse: and he that sat on him had a bow; and a crown was given unto him: and he went forth conquering, and to conquer.
REVELATION 13:1-10,16-18 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority.3 And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast.4 And they worshipped the dragon which gave power unto the beast: and they worshipped the beast, saying, Who is like unto the beast? who is able to make war with him?5 And there was given unto him a mouth speaking great things and blasphemies; and power was given unto him to continue forty and two months.6 And he opened his mouth in blasphemy against God, to blaspheme his name, and his tabernacle, and them that dwell in heaven.7 And it was given unto him to make war with the saints, and to overcome them: and power was given him over all kindreds, and tongues, and nations.8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.9 If any man have an ear, let him hear.10 He that leadeth into captivity shall go into captivity: he that killeth with the sword must be killed with the sword. Here is the patience and the faith of the saints.16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
We see in Daniel that the 4TH WORLD EMPIRE SINCE BABYLON OR THE 7TH WORLD EMPIRE in history or REVIVED ROMAN EMPIRE IS EU. This EUROPEAN EMPIRE WILL HAVE WORLD CONTROL. After it gets to 10 kings or nations in the EU another emerges #11 SPAIN and boots 3 countries from the EU.
The Leader who boots the 3 countries out becomes the world dictator of Revelation 6,13 and 17. In Revelation 17 it says the EU would be blasphemous, that happened already with the Danish muslim uproar. And the EU does not want GOD in their constitution just like REV 13 and 17 says. Then in 17:12-13 we see the Future Dictator coming to power by a system like the UN does, he is givin rulership by the 10 nations of the EU and becomes the EU PRESIDENT. Notice in 13 they all agree with the decision. They give him the political power of the EU block.
REVELATION 6 & 13 tells us what he will be like in power.
1-A LEADER OF PEACE as he SIGNS the 7 YR PEACE contract with ISRAELIS / ARABS,MANY of DANIEL 9:27.
2-A MILITARY LEADER, HE CONQUERS.
3-A BLASPHEMOUS LEADER.
4-A OCCULT LEADER-SATAN GIVES HIM HIS POWER AND STRENGTH.
5-A WORLD LEADER-GIVEN WORLD CONTROL IN VERSES 3,7,8.
6-A DECEPTIVE LEADER-HE PROSPERS THROUGH LIES AND DECEPTION.
7-A MURDEROUS LEADER-HAS PEOPLE BEHEADED FOR NOT WORSHIPPING HIM AS GOD.
8-A DICTATOR-MAKE EVERYONE RECIEVE A MICROCHIP IN THEIR HANDS OR FOREHEAD.
THE ROLE OF THE SECRETARY-GENERAL
Equal parts diplomat and advocate, civil servant and CEO, the Secretary-General is a symbol of United Nations ideals and a spokesman for the interests of the world's peoples, in particular the poor and vulnerable among them. The current Secretary-General, and the seventh occupant of the post, is Mr. Kofi A. Annan of Ghana, who took office on 1 January 1997.
The Charter describes the Secretary-General as "chief administrative officer" of the Organization, who shall act in that capacity and perform "such other functions as are entrusted" to him or her by the Security Council, General Assembly, Economic and Social Council and other United Nations organs. The Charter also empowers the Secretary-General to "bring to the attention of the Security Council any matter which in his opinion may threaten the maintenance of international peace and security". These guidelines both define the powers of the office and grant it considerable scope for action. The Secretary-General would fail if he did not take careful account of the concerns of Member States, but he must also uphold the values and moral authority of the United Nations, and speak and act for peace, even at the risk, from time to time, of challenging or disagreeing with those same Member States.
That creative tension accompanies the Secretary-General through day-to-day work that includes attendance at sessions of United Nations bodies; consultations with world leaders, government officials, and others; and worldwide travel intended to keep him in touch with the peoples of the Organization's Member States and informed about the vast array of issues of international concern that are on the Organization's agenda. Each year, the Secretary-General issues a report on the work of the United Nations that appraises its activities and outlines future priorities. The Secretary-General is also Chairman of the Administrative Committee on Coordination (ACC), which brings together the Executive Heads of all UN funds, programmes and specialized agencies twice a year in order to further coordination and cooperation in the entire range of substantive and management issues facing the United Nations System.
One of the most vital roles played by the Secretary-General is the use of his "good offices" -- steps taken publicly and in private, drawing upon his independence, impartiality and integrity, to prevent international disputes from arising, escalating or spreading. Since becoming Secretary-General, Mr. Annan has made use of his good offices in a range of situations, including Cyprus, East Timor, Iraq, Libya, Nigeria and Western Sahara.
Each Secretary-General also defines his role within the context of his particular time in office.
Previous Secretaries-General
Under the Charter, the Secretary-General is appointed by the General Assembly upon the recommendation of the Security Council. Mr. Annan's predecessors as Secretary-General were: Boutros Boutros-Ghali (Egypt), who held office from January 1992 to December 1996; Javier PÈrez de CuÈllar (Peru), who served from January 1982 to December 1991; Kurt Waldheim (Austria), who held office from January 1972 to December 1981; U Thant (Burma, now Myanmar), who served from November 1961, when he was appointed acting Secretary-General (he was formally appointed Secretary-General in November 1962) to December 1971; Dag Hammarskjˆld (Sweden), who served from April 1953 until his death in a plane crash in Africa in September 1961; and Trygve Lie (Norway), who held office from February 1946 to his resignation in November 1952.
Friday, May 19, 2006
VATICAN WCC CONVERSION PARTNERSHIP
Well Folks the World Council of Churches, the Vatican and other religions met to do a study of how to convert people. Interesting when in REVELATION 17 we see a WORLD CHURCH combined from all the Religions of the WORLD, team up with the European Union to Persecute true believers in Christ and have them beheaded for their faith.
So when it says in this story that freedom of Religion is a non-negotiable right, well they are wrong, this bunch headed by the Vatican in the future will take the freedom of Religion from true Christians and will behead them in the future.
And oviously since beheadings are big during the tribulation, the Muslims will infiltrate the Vatican and control it some how. Or I can not see why beheadings would become common place. The only way the false world church could do beheadings is to go by Sharia Muslim law, and Muslim practices by the new age movement.
World Council of Churches & Vatican Partner in New Conversion Study
A new study partnership initiative between the World Council of Churches (WCC) and the Vatican has begun this week. A new study partnership initiative between the World Council of Churches (WCC) and the Vatican has begun this week. Immediately upon its commencement an affirmation was made that the freedom of religion was a “non-negotiable” human right that should be valid for every single member of society across the world.Rev. Canon Dr Andrew Wingate from the UK (left) with Prof. Anantanand Rambachan from India (right).
(WCC/Jacques Matthey) Freedom of religion is a fundamental, inviolable and non-negotiable right of every human being in every country in the world, states the report of the 12-16 May meeting in Lariano/Velletri, near Rome, that launched the cooperative study.It was also
emphasised that the “obsession of converting others” needed to be cured in the religious world.The report said, “Freedom of religion connotes the freedom, without any obstruction, to practise one's own faith, freedom to propagate the teachings of one's faith to people of one's own and other faiths, and also the freedom to embrace another faith out of one's own free choice.
However, this right entailed the “equally non-negotiable responsibility to respect faiths other than our own, and never to denigrate, vilify or misrepresent them for the purpose of affirming superiority of our faith. Also, the “right to invite others to an understanding" of one's own faith "should not be exercised by violating other's rights and religious sensibilities. Also contained
in the report was the bold recommendation that, “All should heal themselves from the obsession of converting others.
Acknowledging that "errors have been perpetrated and injustice committed by the adherents of every faith," it suggests that "it is incumbent on every community to conduct honest self-critical examination" of its historical record as well as its doctrines. As a result of “self-criticism and repentance," some reforms should take place in order to ensure a healthier approach to the
issue of conversion.
Among the various suggestions made included: Discouraging and rejecting "unethical means", avoiding taking advantage of "vulnerable" people like children and disabled persons, and doing humanitarian work "without any ulterior motives. The report, which was issued by 27 participants from Buddhist, Christian, Hindu, Muslim, Jewish and Yoruba religious backgrounds, recognised that "many differences and disagreements" remained among them, but nonetheless a "convergent understanding of the several aspects of the issue of religious conversion" developed.
The participants also warmly greeted the useful and vitally needed idea of a collectively developed "code of conduct" on conversion, and it was suggested that "inter-religious dialogues on the issue of conversion should continue at various levels.
Daniel Blakemailto:Blakedaniel@christiantoday.com
Strong earthquake hits off Indonesian island 4 minutes ago HONG KONG
(AFP) - A strong earthquake with an estimated magnitude of 6.1 on the Richter scale hit off the Indonesian island of Sulawesi, observatories in Hong Kong and the United States said. The quake struck at 1444 GMT at a depth of 61 kilometers (38 miles) some 195 kilometers south of Manado, the main city on the northeastern tip of the island, the US Geological Survey said. It was located 310 kilometers west-southwest of Ternate in the Moluccas and 930 kilometers north of Dili, East Timor, the USGS statement said.
The Hong Kong observatory said the quake struck at 10:50 pm Hong Kong time (1450 GMT) and was initially determined to be centred in the Molucca Sea, about 200 kilometres south of Manado. There were no reports of damage or casualties.Indonesia sits on the Pacific "Ring of Fire, where the meeting of continental plates causes high volcanic and seismic activity.
So when it says in this story that freedom of Religion is a non-negotiable right, well they are wrong, this bunch headed by the Vatican in the future will take the freedom of Religion from true Christians and will behead them in the future.
And oviously since beheadings are big during the tribulation, the Muslims will infiltrate the Vatican and control it some how. Or I can not see why beheadings would become common place. The only way the false world church could do beheadings is to go by Sharia Muslim law, and Muslim practices by the new age movement.
World Council of Churches & Vatican Partner in New Conversion Study
A new study partnership initiative between the World Council of Churches (WCC) and the Vatican has begun this week. A new study partnership initiative between the World Council of Churches (WCC) and the Vatican has begun this week. Immediately upon its commencement an affirmation was made that the freedom of religion was a “non-negotiable” human right that should be valid for every single member of society across the world.Rev. Canon Dr Andrew Wingate from the UK (left) with Prof. Anantanand Rambachan from India (right).
(WCC/Jacques Matthey) Freedom of religion is a fundamental, inviolable and non-negotiable right of every human being in every country in the world, states the report of the 12-16 May meeting in Lariano/Velletri, near Rome, that launched the cooperative study.It was also
emphasised that the “obsession of converting others” needed to be cured in the religious world.The report said, “Freedom of religion connotes the freedom, without any obstruction, to practise one's own faith, freedom to propagate the teachings of one's faith to people of one's own and other faiths, and also the freedom to embrace another faith out of one's own free choice.
However, this right entailed the “equally non-negotiable responsibility to respect faiths other than our own, and never to denigrate, vilify or misrepresent them for the purpose of affirming superiority of our faith. Also, the “right to invite others to an understanding" of one's own faith "should not be exercised by violating other's rights and religious sensibilities. Also contained
in the report was the bold recommendation that, “All should heal themselves from the obsession of converting others.
Acknowledging that "errors have been perpetrated and injustice committed by the adherents of every faith," it suggests that "it is incumbent on every community to conduct honest self-critical examination" of its historical record as well as its doctrines. As a result of “self-criticism and repentance," some reforms should take place in order to ensure a healthier approach to the
issue of conversion.
Among the various suggestions made included: Discouraging and rejecting "unethical means", avoiding taking advantage of "vulnerable" people like children and disabled persons, and doing humanitarian work "without any ulterior motives. The report, which was issued by 27 participants from Buddhist, Christian, Hindu, Muslim, Jewish and Yoruba religious backgrounds, recognised that "many differences and disagreements" remained among them, but nonetheless a "convergent understanding of the several aspects of the issue of religious conversion" developed.
The participants also warmly greeted the useful and vitally needed idea of a collectively developed "code of conduct" on conversion, and it was suggested that "inter-religious dialogues on the issue of conversion should continue at various levels.
Daniel Blakemailto:Blakedaniel@christiantoday.com
Strong earthquake hits off Indonesian island 4 minutes ago HONG KONG
(AFP) - A strong earthquake with an estimated magnitude of 6.1 on the Richter scale hit off the Indonesian island of Sulawesi, observatories in Hong Kong and the United States said. The quake struck at 1444 GMT at a depth of 61 kilometers (38 miles) some 195 kilometers south of Manado, the main city on the northeastern tip of the island, the US Geological Survey said. It was located 310 kilometers west-southwest of Ternate in the Moluccas and 930 kilometers north of Dili, East Timor, the USGS statement said.
The Hong Kong observatory said the quake struck at 10:50 pm Hong Kong time (1450 GMT) and was initially determined to be centred in the Molucca Sea, about 200 kilometres south of Manado. There were no reports of damage or casualties.Indonesia sits on the Pacific "Ring of Fire, where the meeting of continental plates causes high volcanic and seismic activity.
DAVINCI CODE LIES OPENS TODAY
DA VINCI CODE LIES AND DECEPTION MAY 19,2006
As we all know the Da Vinci code movie is coming out today. This movie is filled with lies about Jesus having a wife and child. Every true Christian sould not go to see this movie filled with lies and doctrines of demons.
Jesus came to die on the cross for our sins, not to marry Mary Magdeline and have a child who went to France.
Dan Brown is trying to take GOD out of Jesus and make him a mere human being. No Christian should spend their money on this trash that puts down our GOD and SAVIOR JESUS CHRIST. The reviews from the world are even bad about this movie.The Bible clearly says people will turn from the truth in the last days to lies, fables and myths, decieving and being decieved. And false teachers and prophets will arise in these last days also.
2 TIMOTHY 3:13
13 But evil men and seducers shall wax worse and worse, deceiving, and being deceived.
1 TIMOTHY 4:1-2
1 Now the Spirit speaketh expressly, that in the latter times some shall depart from the faith, giving heed to seducing spirits,
and doctrines of devils;
2 Speaking lies in hypocrisy; having their conscience seared with a hot iron;
2 TIMOTHY 4:1-4
1 I charge thee therefore before God, and the Lord Jesus Christ, who shall judge the quick and the dead at his appearing and his kingdom;
2 Preach the word; be instant in season, out of season; reprove, rebuke, exhort with all longsuffering and doctrine.
3 For the time will come when they will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears;
4 And they shall turn away their ears from the truth, and shall be turned unto fables.
MATTHEW 24:5,24
5 For many shall come in my name, saying, I am Christ; and shall deceive many.
24 For there shall arise false Christs, and false prophets, and shall shew great signs and wonders; inso much that, if it were possible, they shall deceive the very elect.
MARK 13:22-23
22 For false Christs and false prophets shall rise, and shall shew signs and wonders, to seduce, if it were possible, even the elect.
23 But take ye heed: behold, I have foretold you all things.
2 TIMOTHY 3:1-5
1 This know also, that in the last days perilous times shall come.
2 For men shall be lovers of their own selves, covetous, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy,
3 Without natural affection, trucebreakers, false accusers, incontinent, fierce, despisers of those that are good,
4 Traitors, heady, highminded, lovers of pleasures more than lovers of God;
5 Having a form of godliness, but denying the power thereof: from such turn away.
6 For of this sort are they which creep into houses, and lead captive silly women laden with sins, led away with divers lusts,
7 Ever learning, and never able to come to the knowledge of the truth.
C$ losing global edge, still strong vs greenback Thursday, May 18, 2006 3:50:10 PM ET.By Cameron French
TORONTO (Reuters) - The Canadian dollar is losing its edge against most world currencies as North American interest rates stop rising and oil and metals prices ease, but it could still extend its climb beyond recent 28-year highs versus the greenback. The currency, known as the loonie for the picture of the loon on the one-dollar coin, was the top performer of Group of Seven currencies in 2005, helped by strong commodity prices and steadily rising domestic interest rates.It rose further against the U.S. dollar this year, charging above 90 U.S. cents for the first time since 1978 to touch a high of C$1.0975, or 91.12 U.S. cents on May 9. Some spoke seriously about the prospect of parity between the two currencies.
But with the outlook for commodity prices uncertain and the Bank of Canada poised to stop raising rates, any further gains will likely reflect U.S. economic troubles and their impact on the U.S. dollar, while the loonie will keep falling against currencies like the euro and the yen. We've moved to a period of time where Canada's moving out of the spotlight. It's like the action is
done, said David Powell, currency analyst at IDEAglobal. Powell expects the Canadian dollar to rise further against the greenback this year. But he says that will reflect pressure on the U.S. dollar from a yawning current account deficit and expectations that U.S. interest rates have peaked.
DIFFERENT PICTURES
The picture looks different elsewhere in the world, where the euro zone has already started raising interest rates and Japan looks set to abandon its zero-interest-rate policy.The Canadian dollar has already pulled back against the euro, the pound and the yen after strong gains last year, and George Davis, chief technical strategist at RBC Capital Markets, said technical and
fundamental indicators suggest the retreat should only deepen. I think from a medium to longer term perspective, valuations for the Canadian dollar are extremely overbought," he said.You've almost got a reversal of the scenario where last year we saw the Bank of Canada start to progress through its tightening cycle, while all the other global central banks apart from the Fed
basically stood pat.
Investors racing to take advantage of the Canadian dollar's positive exposure to energy and metals prices may also have gotten ahead of themselves, as metals start what could become a long correction.The Canadian dollar was around C$1.1202 to the U.S. dollar, or 89.28 U.S. cents, on Thursday after a tame April inflation report suggested the Bank of Canada will raise
rates at most once more.The currency was at C$1.4360 to the euro, while it was C$2.1183 against the pound and at 98.85 yen. At the start of last year the Canadian dollar was at C$1.6306 to the euro, C$2.3075 to the pound and at 85.10 yen.
The loonie's recent gains have also prompted speculators to bet on its one-way movement, and as fundamentals shift, they could unwind those bets quickly.While the Canadian dollar needs to be firm and robust, the acceleration that we've seen has got to dissipate, said Amarjit Sahota, head of global research at HIFX in San Francisco.That's really apparent when you look at the IMM (currency futures) data, on how long the speculative community is on Canadian dollars, and we'd expect that to (come off)."
As we all know the Da Vinci code movie is coming out today. This movie is filled with lies about Jesus having a wife and child. Every true Christian sould not go to see this movie filled with lies and doctrines of demons.
Jesus came to die on the cross for our sins, not to marry Mary Magdeline and have a child who went to France.
Dan Brown is trying to take GOD out of Jesus and make him a mere human being. No Christian should spend their money on this trash that puts down our GOD and SAVIOR JESUS CHRIST. The reviews from the world are even bad about this movie.The Bible clearly says people will turn from the truth in the last days to lies, fables and myths, decieving and being decieved. And false teachers and prophets will arise in these last days also.
2 TIMOTHY 3:13
13 But evil men and seducers shall wax worse and worse, deceiving, and being deceived.
1 TIMOTHY 4:1-2
1 Now the Spirit speaketh expressly, that in the latter times some shall depart from the faith, giving heed to seducing spirits,
and doctrines of devils;
2 Speaking lies in hypocrisy; having their conscience seared with a hot iron;
2 TIMOTHY 4:1-4
1 I charge thee therefore before God, and the Lord Jesus Christ, who shall judge the quick and the dead at his appearing and his kingdom;
2 Preach the word; be instant in season, out of season; reprove, rebuke, exhort with all longsuffering and doctrine.
3 For the time will come when they will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears;
4 And they shall turn away their ears from the truth, and shall be turned unto fables.
MATTHEW 24:5,24
5 For many shall come in my name, saying, I am Christ; and shall deceive many.
24 For there shall arise false Christs, and false prophets, and shall shew great signs and wonders; inso much that, if it were possible, they shall deceive the very elect.
MARK 13:22-23
22 For false Christs and false prophets shall rise, and shall shew signs and wonders, to seduce, if it were possible, even the elect.
23 But take ye heed: behold, I have foretold you all things.
2 TIMOTHY 3:1-5
1 This know also, that in the last days perilous times shall come.
2 For men shall be lovers of their own selves, covetous, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy,
3 Without natural affection, trucebreakers, false accusers, incontinent, fierce, despisers of those that are good,
4 Traitors, heady, highminded, lovers of pleasures more than lovers of God;
5 Having a form of godliness, but denying the power thereof: from such turn away.
6 For of this sort are they which creep into houses, and lead captive silly women laden with sins, led away with divers lusts,
7 Ever learning, and never able to come to the knowledge of the truth.
C$ losing global edge, still strong vs greenback Thursday, May 18, 2006 3:50:10 PM ET.By Cameron French
TORONTO (Reuters) - The Canadian dollar is losing its edge against most world currencies as North American interest rates stop rising and oil and metals prices ease, but it could still extend its climb beyond recent 28-year highs versus the greenback. The currency, known as the loonie for the picture of the loon on the one-dollar coin, was the top performer of Group of Seven currencies in 2005, helped by strong commodity prices and steadily rising domestic interest rates.It rose further against the U.S. dollar this year, charging above 90 U.S. cents for the first time since 1978 to touch a high of C$1.0975, or 91.12 U.S. cents on May 9. Some spoke seriously about the prospect of parity between the two currencies.
But with the outlook for commodity prices uncertain and the Bank of Canada poised to stop raising rates, any further gains will likely reflect U.S. economic troubles and their impact on the U.S. dollar, while the loonie will keep falling against currencies like the euro and the yen. We've moved to a period of time where Canada's moving out of the spotlight. It's like the action is
done, said David Powell, currency analyst at IDEAglobal. Powell expects the Canadian dollar to rise further against the greenback this year. But he says that will reflect pressure on the U.S. dollar from a yawning current account deficit and expectations that U.S. interest rates have peaked.
DIFFERENT PICTURES
The picture looks different elsewhere in the world, where the euro zone has already started raising interest rates and Japan looks set to abandon its zero-interest-rate policy.The Canadian dollar has already pulled back against the euro, the pound and the yen after strong gains last year, and George Davis, chief technical strategist at RBC Capital Markets, said technical and
fundamental indicators suggest the retreat should only deepen. I think from a medium to longer term perspective, valuations for the Canadian dollar are extremely overbought," he said.You've almost got a reversal of the scenario where last year we saw the Bank of Canada start to progress through its tightening cycle, while all the other global central banks apart from the Fed
basically stood pat.
Investors racing to take advantage of the Canadian dollar's positive exposure to energy and metals prices may also have gotten ahead of themselves, as metals start what could become a long correction.The Canadian dollar was around C$1.1202 to the U.S. dollar, or 89.28 U.S. cents, on Thursday after a tame April inflation report suggested the Bank of Canada will raise
rates at most once more.The currency was at C$1.4360 to the euro, while it was C$2.1183 against the pound and at 98.85 yen. At the start of last year the Canadian dollar was at C$1.6306 to the euro, C$2.3075 to the pound and at 85.10 yen.
The loonie's recent gains have also prompted speculators to bet on its one-way movement, and as fundamentals shift, they could unwind those bets quickly.While the Canadian dollar needs to be firm and robust, the acceleration that we've seen has got to dissipate, said Amarjit Sahota, head of global research at HIFX in San Francisco.That's really apparent when you look at the IMM (currency futures) data, on how long the speculative community is on Canadian dollars, and we'd expect that to (come off)."
Thursday, May 18, 2006
RAGING SEAS SURVEY OF SCARYIST
Is the Bible up to date or what. This survey proves Bible prophecy correct as Hurricanes top the list of of scarry happenings.
What Does Luke 21:25-26 say, Nations in distress and fear of the raging seas (Storms, Hurricanes, Tornadoes, Tsunamis). And world terrorism in Genesis 6:11-13.
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; the sea and the waves roaring;
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.
GENESIS 6:11-13
11 The earth also was corrupt before God, and the earth was filled with violence.
12 And God looked upon the earth, and, behold, it was corrupt; for all flesh had corrupted his way upon the earth.
13 And God said unto Noah, The end of all flesh is come before me; for the earth is filled with violence through them; and, behold, I will destroy them with the earth.
2 TIMOTHY 3:1
1 This know also, that in the last days perilous (dangerous) times shall come.
Weather scarier than terroristsBy Jennifer Harper THE WASHINGTON TIMES May 18, 06
Howling winds and lashing rain seem more dangerous to Americans than dirty bombs and al Qaeda, according to a Harris poll released Tuesday that examines public sentiment of natural or man-made disasters. Although personal confidence in handling calamities seems intact, trust in the federal government is downright shaky. What tops the danger meter? Hurricanes were ranked the most destructive disaster by 72 percent of respondents, followed by earthquakes and tornadoes, each cited by 53 percent, and terrorism, cited by 43 percent. Floods (37 percent), wildfires (19 percent) and drought (16 percent) followed.
But Americans don't seem particularly concerned by sloppy soil and blizzards. Mudslides were cited as destructive by only 5 percent, and ice or snowstorms by 3 percent. The danger factor varies by region. Folks in the Midwest most often cited terrorism as the most destructive act, while those in the South find it the least harmful. Southerners were more likely than respondents from other regions to say hurricanes and tornadoes are more destructive. Oddly, more Easterners than Westerners say earthquakes are the most destructive. Some disasters are taken more personally than others. When asked which calamity most directly affected them, Midwestern and Southern respondents named tornadoes. It was snow and ice for Easterners and earthquakes out West.
Bad memories of slow government response after Hurricane Katrina may linger. When asked whether the federal government was prepared to deal with the nine types of disasters, almost half -- 47 percent -- said agencies would not be able to cope with any of them. Only a quarter said the government could cope with a terrorist attack, while 20 percent said it could respond to a wildfire. The numbers go downhill from there: Only 2 percent said the government could deal with a mudslide. As June approaches and we await Hurricane Alberto or Tropical Storm Beryl, it will be interesting to see if people are right about the federal government's ability to handle these disasters," the poll's analysts said.
It may start with better outreach. A Temple University study conducted after the destructive hurricanes last year found that poor communications" generated chaos, distress and alarm. The university is drafting an emergency response guide for officials. Americans are reasonably ready to handle disasters on their own. The poll found that 81 percent said they were prepared to
handle a snowstorm, while less than half said they could deal with a tornado or drought. About 42 percent were prepared for a flood, 38 percent for a wildfire, 35 percent for a hurricane and 29 percent for an earthquake. Just 28 percent were ready for a terrorist attack and 21 percent for a mudslide.
The poll of 3,979 adults was conducted online April 12 to 20 and had a margin of error of two percentage points.
Typhoon Chanchu Kills 50 People in Asia By CHRISTOPHER BODEEN, Associated Press Writer
1 hour, 8 minutes ago SHANGHAI, China - A powerful typhoon pummeled southern China on Thursday, killing at least 11 people and leaving 27 Vietnamese fishermen missing after their boats sank in Chinese waters. Typhoon Chanchu has killed at least 50 people in Asia, including 37 last weekend in the Philippines, where it destroyed thousands of homes. There were fears the death toll could rise dramatically.
The storm hit the coast of China early Thursday, flooding scores of homes and forcing the evacuation of more than 1 million people before weakening to a severe tropical storm.The official Xinhua News Agency said eight people died and four were missing when mudslides buried two homes in coastal Fujian province. Three others — including two children — were killed when the storm made landfall near Shantou in the northern tip of China's Guangdong province, knocking over houses.
The missing Vietnamese fishermen were on three boats that sank in Chinese waters,Vietnamese officials said Thursday. Six other boats with 67 fishermen were able to reach an island and report the sinking of the other vessels. Vietnam asked Chinese authorities to help search for the missing.
Taiwan reported the deaths of two women swept away by floods in the southern region of Pingtung on Wednesday. In southern Japan, high waves swept away three 17-year-old male students swimming off Hateruma island in the Okinawa chain, leaving one dead and another missing, coast guard spokesman Shoji Kawabata said. The third was rescued. China said it had moved more than 1 million people to safety in Guangdong and Fujian provinces. The storm bypassed the financial center of Hong Kong on the Guangdong coast.
Thousands of people evacuated from fishing boats and low-lying areas were staying with relatives, in tents, or in schools and government warehouses, said an official of the Chaozhou city government in Guangdong, who like many Chinese bureaucrats would only give his surname, Zhang. Nearly 100,000 ships were ordered to return to harbor, Xinhua said. Television news showed violent waves pounding sea walls along China's coast. Reports said winds and rain damaged dikes, uprooted trees and brought down buildings along the Guangdong coast. By 8 p.m. Thursday, Chanchu, which means "pearl" in Cantonese, was centered about 186 miles south of Shanghai and picking up speed as it headed along the coast and out to sea at about 28 mph, the Hong Kong Observatory said.The storm was expected to enter the East China Sea later Thursday or early Friday.
An official with the Fujian Provincial Flood Control and Drought Relief Headquarters, who gave only his surname, Huang, said winds at the storm's center had weakened when it crossed over the land and were blowing at about 56 mph.Taiwan ordered schools on the outlying island of Kinmen closed because of the storm. Chanchu earlier drove an oil tanker to run aground near
Taiwan's southern port of Kaohsiung. Rescuers in helicopters airlifted 13 crew members off the ship, which was later freed with no leakage of oil. T.C. Lee, an official with the Hong Kong Observatory, said Chanchu was the "most intense" typhoon to strike in the South China Sea in May, an early month in the annual cyclone season.
However, the early arrival of the year's first typhoon does not necessarily portend an unusually active storm season, Lee said by telephone. (Associated Press reporter Tran Van Minh in Hanoi, Vietnam, contributed to this report).
What Does Luke 21:25-26 say, Nations in distress and fear of the raging seas (Storms, Hurricanes, Tornadoes, Tsunamis). And world terrorism in Genesis 6:11-13.
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; the sea and the waves roaring;
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.
GENESIS 6:11-13
11 The earth also was corrupt before God, and the earth was filled with violence.
12 And God looked upon the earth, and, behold, it was corrupt; for all flesh had corrupted his way upon the earth.
13 And God said unto Noah, The end of all flesh is come before me; for the earth is filled with violence through them; and, behold, I will destroy them with the earth.
2 TIMOTHY 3:1
1 This know also, that in the last days perilous (dangerous) times shall come.
Weather scarier than terroristsBy Jennifer Harper THE WASHINGTON TIMES May 18, 06
Howling winds and lashing rain seem more dangerous to Americans than dirty bombs and al Qaeda, according to a Harris poll released Tuesday that examines public sentiment of natural or man-made disasters. Although personal confidence in handling calamities seems intact, trust in the federal government is downright shaky. What tops the danger meter? Hurricanes were ranked the most destructive disaster by 72 percent of respondents, followed by earthquakes and tornadoes, each cited by 53 percent, and terrorism, cited by 43 percent. Floods (37 percent), wildfires (19 percent) and drought (16 percent) followed.
But Americans don't seem particularly concerned by sloppy soil and blizzards. Mudslides were cited as destructive by only 5 percent, and ice or snowstorms by 3 percent. The danger factor varies by region. Folks in the Midwest most often cited terrorism as the most destructive act, while those in the South find it the least harmful. Southerners were more likely than respondents from other regions to say hurricanes and tornadoes are more destructive. Oddly, more Easterners than Westerners say earthquakes are the most destructive. Some disasters are taken more personally than others. When asked which calamity most directly affected them, Midwestern and Southern respondents named tornadoes. It was snow and ice for Easterners and earthquakes out West.
Bad memories of slow government response after Hurricane Katrina may linger. When asked whether the federal government was prepared to deal with the nine types of disasters, almost half -- 47 percent -- said agencies would not be able to cope with any of them. Only a quarter said the government could cope with a terrorist attack, while 20 percent said it could respond to a wildfire. The numbers go downhill from there: Only 2 percent said the government could deal with a mudslide. As June approaches and we await Hurricane Alberto or Tropical Storm Beryl, it will be interesting to see if people are right about the federal government's ability to handle these disasters," the poll's analysts said.
It may start with better outreach. A Temple University study conducted after the destructive hurricanes last year found that poor communications" generated chaos, distress and alarm. The university is drafting an emergency response guide for officials. Americans are reasonably ready to handle disasters on their own. The poll found that 81 percent said they were prepared to
handle a snowstorm, while less than half said they could deal with a tornado or drought. About 42 percent were prepared for a flood, 38 percent for a wildfire, 35 percent for a hurricane and 29 percent for an earthquake. Just 28 percent were ready for a terrorist attack and 21 percent for a mudslide.
The poll of 3,979 adults was conducted online April 12 to 20 and had a margin of error of two percentage points.
Typhoon Chanchu Kills 50 People in Asia By CHRISTOPHER BODEEN, Associated Press Writer
1 hour, 8 minutes ago SHANGHAI, China - A powerful typhoon pummeled southern China on Thursday, killing at least 11 people and leaving 27 Vietnamese fishermen missing after their boats sank in Chinese waters. Typhoon Chanchu has killed at least 50 people in Asia, including 37 last weekend in the Philippines, where it destroyed thousands of homes. There were fears the death toll could rise dramatically.
The storm hit the coast of China early Thursday, flooding scores of homes and forcing the evacuation of more than 1 million people before weakening to a severe tropical storm.The official Xinhua News Agency said eight people died and four were missing when mudslides buried two homes in coastal Fujian province. Three others — including two children — were killed when the storm made landfall near Shantou in the northern tip of China's Guangdong province, knocking over houses.
The missing Vietnamese fishermen were on three boats that sank in Chinese waters,Vietnamese officials said Thursday. Six other boats with 67 fishermen were able to reach an island and report the sinking of the other vessels. Vietnam asked Chinese authorities to help search for the missing.
Taiwan reported the deaths of two women swept away by floods in the southern region of Pingtung on Wednesday. In southern Japan, high waves swept away three 17-year-old male students swimming off Hateruma island in the Okinawa chain, leaving one dead and another missing, coast guard spokesman Shoji Kawabata said. The third was rescued. China said it had moved more than 1 million people to safety in Guangdong and Fujian provinces. The storm bypassed the financial center of Hong Kong on the Guangdong coast.
Thousands of people evacuated from fishing boats and low-lying areas were staying with relatives, in tents, or in schools and government warehouses, said an official of the Chaozhou city government in Guangdong, who like many Chinese bureaucrats would only give his surname, Zhang. Nearly 100,000 ships were ordered to return to harbor, Xinhua said. Television news showed violent waves pounding sea walls along China's coast. Reports said winds and rain damaged dikes, uprooted trees and brought down buildings along the Guangdong coast. By 8 p.m. Thursday, Chanchu, which means "pearl" in Cantonese, was centered about 186 miles south of Shanghai and picking up speed as it headed along the coast and out to sea at about 28 mph, the Hong Kong Observatory said.The storm was expected to enter the East China Sea later Thursday or early Friday.
An official with the Fujian Provincial Flood Control and Drought Relief Headquarters, who gave only his surname, Huang, said winds at the storm's center had weakened when it crossed over the land and were blowing at about 56 mph.Taiwan ordered schools on the outlying island of Kinmen closed because of the storm. Chanchu earlier drove an oil tanker to run aground near
Taiwan's southern port of Kaohsiung. Rescuers in helicopters airlifted 13 crew members off the ship, which was later freed with no leakage of oil. T.C. Lee, an official with the Hong Kong Observatory, said Chanchu was the "most intense" typhoon to strike in the South China Sea in May, an early month in the annual cyclone season.
However, the early arrival of the year's first typhoon does not necessarily portend an unusually active storm season, Lee said by telephone. (Associated Press reporter Tran Van Minh in Hanoi, Vietnam, contributed to this report).
Wednesday, May 17, 2006
DOLLAR STOCKS STILL IN TROUBLE
In Story 1 the Dollar and stocks are still in trouble. Story 2 Chavez and the Euro and story 3 Storm could damage Asia.
Big rise in core inflation spooks Wall Street By Tim Ahmann Wed May 17, 4:40 PM
ET WASHINGTON (Reuters) - A big jump in energy costs pushed U.S. consumer prices up sharply last month, while rising rents led to a surprisingly steep gain in core prices, according to a government report on Wednesday that spooked financial markets. The Labor Department said the consumer price index rose 0.6 percent in April, while the closely watched core index, which strips out volatile food and energy prices, rose 0.3 percent for a second consecutive month. Both figures were above expectations on Wall Street, where economists had looked for overall prices to rise 0.5 percent, with core prices up just 0.2 percent.
The data sent stock markets reeling. The blue-chip Dow Jones industrial average (^DJI - news) closed down 214 points, its biggest one-day drop since March 2003, while the tech-laden Nasdaq composite (^IXIC - news) wiped out its gains for the year. Prices for U.S. government bonds also took a dive as traders saw the strong inflation data as boosting odds of further interest-rate hikes from the U.S. central bank. It's time to get worried," said Brandeis University professor Stephen Cecchetti.
The Labor Department said half of the increase in the core inflation index was due to a 0.3 percent gain in shelter costs, with increases in the cost of apparel, medical care, and education and communication also contributing. The rise in shelter costs reflected the second straight monthly 0.4 percent increase in the department's rents-based measure of owner-occupied housing costs, a sign the rental market may be tightening as Americans give up trying to buy. Over the past 12 months, the core consumer price index has risen 2.3 percent, a pickup from the 2.1 percent gain registered in the period through March and the biggest 12-month advance in more than a year.
ENERGY COSTS HURT
Headline inflation has moved up even quicker because of big gains in energy costs, with overall consumer prices up 3.5 percent in the past 12 months. Energy prices climbed 3.9 percent in April, building on a 1.3 percent March gain. Gasoline prices rose 8.8 percent in April and fuel oil costs increased 5.2 percent. Natural gas prices, however, slid 5.2 percent.The big jump in energy prices over the last year has largely eroded whatever pay gains U.S. workers have managed to win. Over the past year, inflation-adjusted hourly earnings are up just 0.1 percent -- the first gain since last June. Fed officials have been concerned that tightening labor markets and diminishing excess capacity at industrial firms, coupled with persistent pressure from lofty oil prices, could generate a broad-based pickup in inflation.
After raising the benchmark overnight lending rate last week for the 16th consecutive time, the Fed warned borrowing costs may have to move higher still given inflation risks. Bets in futures markets for a 17th straight rate hike at the central bank's upcoming meeting in late June jumped as high as 58 percent on Wednesday, a 20 percentage point gain. While the CPI data will raise eyebrows at the Fed, policy-makers focus more heavily on a separate inflation measure that does not put so much weight on rental costs.
Economists said the Fed could still pause in June to try to gauge whether the economy is downshifting to cooler growth. Buttressing forecasts of a slowdown, the Commerce Department said on Tuesday that U.S. housing starts fell last month to their lowest annual pace since November 2004. While economists saw that as a sign higher mortgage rates were slowing activity, the Mortgage Bankers Association said on Wednesday its seasonally adjusted index of mortgage application activity last week increased 4.6 percent. For details, see .
(Additional reporting by Julie Haviv in New York)
Chavez may price oil exports in euros (associated press)
MAY. 16 7:09 P.M. ET Venezuela's president Hugo Chavez said Tuesday that he would consider pricing his country's oil in euros instead of dollars in line with a similar declaration made by Iran. Earlier this month Iran's state television reported the country's Oil Ministry granted a license for its first euro-denominated market. That is an interesting proposal made by the president of Iran," Chavez told Britain's Channel 4 news. "We are free to choose too between the dollar and the euro.If the market were to succeed -- or if Iran simply demanded payment for its oil in euros -- commodities experts said it could lead central bankers around the world to convert some dollar reserves into euros, possibly causing a decline in the dollar's value.Oil is currently denominated in dollars around the globe, whether through direct sales between producers and consumers or in trades made on markets in New York and London, but Chavez said that he would be willing to seek an alternative.
So what the president of Iran says is recognizing the power of Europe. They have succeeded in integrating and have a single currency competing with the dollar, and Venezuela might also consider that," said Chavez, president of the world's fifth largest oil exporter. Iranian legislators earlier this year urged the government to set up the market to reduce the United States influence over the Islamic republic's economy. First floated in 2004 when reformist president Mohammad Khatami was in power, the idea of a euros-traded oil bourse gained new life after the stridently nationalist Mahmoud Ahmadinejad was elected president last summer.
Typhoon Chanchu threatens Taiwan, southern China; Hong Kong spared 52 minutes
ago SHANGHAI, China (AP) - A powerful typhoon roared toward China's southern coast, forcing the evacuation of more than a half-million people and the cancellation of dozens of flights, the Chinese government said Thursday. Typhoon Chanchu's eye was picking up speed and was expected to hit Guangdong province, one of China's biggest manufacturing centres, later in the day, China's Xinhua News Agency said.
Some 327,000 coastal Guangdong residents had already been moved inland Wednesday and more than 51,000 ships were ordered to return to harbour, Xinhua said. In Fujian province, just north of Guangdong, more than 307,000 people were evacuated and 42,000 ships were docked, it said. Some 26 - mainly domestic - flights out of Fujian also were cancelled and Shanghai-based China Eastern Airlines cancelled 38 flights headed for Hong Kong the nearby mainland city Shenzhen, it said.
After slamming into Guangdong, Chanchu was expected to churn up the coast to Fujian province, just across from Taiwan, said the Hong Kong Observatory's forecast and tracking map. The storm was picking up speed as it moved at 24 kilometres an hour with winds of 158 km/h near its centre. As the storm churned through the South China Sea, it caused an oil tanker to run aground near Taiwan's southern port Kaohsiung, officials said. Rescuers in helicopters lifted 13 crew members off the ship.
The typhoon, the strongest ever reported in the South China Sea in May, was heading toward Hong Kong earlier this week, but it changed course overnight, swirling about 225 kilometres east of the city Wednesday afternoon. The storm kicked up high waves and spawned showers but caused no major damage.
In southern Japan, high waves swept three 17-year-old male students from near a beach Wednesday afternoon, leaving one dead and another missing, officials said. They were in the water off Hateruma island in the southern island chain Okinawa when high waves swept them out to sea, said coast guard spokesman Shoji Kawabata. One was found floating near the island and later pronounced dead at a hospital, Kawabata said. Another was rescued by a local diving boat, while the third remained missing.
Chanchu swept over the Philippines last weekend, killing 37 people and destroying thousands of homes.
Big rise in core inflation spooks Wall Street By Tim Ahmann Wed May 17, 4:40 PM
ET WASHINGTON (Reuters) - A big jump in energy costs pushed U.S. consumer prices up sharply last month, while rising rents led to a surprisingly steep gain in core prices, according to a government report on Wednesday that spooked financial markets. The Labor Department said the consumer price index rose 0.6 percent in April, while the closely watched core index, which strips out volatile food and energy prices, rose 0.3 percent for a second consecutive month. Both figures were above expectations on Wall Street, where economists had looked for overall prices to rise 0.5 percent, with core prices up just 0.2 percent.
The data sent stock markets reeling. The blue-chip Dow Jones industrial average (^DJI - news) closed down 214 points, its biggest one-day drop since March 2003, while the tech-laden Nasdaq composite (^IXIC - news) wiped out its gains for the year. Prices for U.S. government bonds also took a dive as traders saw the strong inflation data as boosting odds of further interest-rate hikes from the U.S. central bank. It's time to get worried," said Brandeis University professor Stephen Cecchetti.
The Labor Department said half of the increase in the core inflation index was due to a 0.3 percent gain in shelter costs, with increases in the cost of apparel, medical care, and education and communication also contributing. The rise in shelter costs reflected the second straight monthly 0.4 percent increase in the department's rents-based measure of owner-occupied housing costs, a sign the rental market may be tightening as Americans give up trying to buy. Over the past 12 months, the core consumer price index has risen 2.3 percent, a pickup from the 2.1 percent gain registered in the period through March and the biggest 12-month advance in more than a year.
ENERGY COSTS HURT
Headline inflation has moved up even quicker because of big gains in energy costs, with overall consumer prices up 3.5 percent in the past 12 months. Energy prices climbed 3.9 percent in April, building on a 1.3 percent March gain. Gasoline prices rose 8.8 percent in April and fuel oil costs increased 5.2 percent. Natural gas prices, however, slid 5.2 percent.The big jump in energy prices over the last year has largely eroded whatever pay gains U.S. workers have managed to win. Over the past year, inflation-adjusted hourly earnings are up just 0.1 percent -- the first gain since last June. Fed officials have been concerned that tightening labor markets and diminishing excess capacity at industrial firms, coupled with persistent pressure from lofty oil prices, could generate a broad-based pickup in inflation.
After raising the benchmark overnight lending rate last week for the 16th consecutive time, the Fed warned borrowing costs may have to move higher still given inflation risks. Bets in futures markets for a 17th straight rate hike at the central bank's upcoming meeting in late June jumped as high as 58 percent on Wednesday, a 20 percentage point gain. While the CPI data will raise eyebrows at the Fed, policy-makers focus more heavily on a separate inflation measure that does not put so much weight on rental costs.
Economists said the Fed could still pause in June to try to gauge whether the economy is downshifting to cooler growth. Buttressing forecasts of a slowdown, the Commerce Department said on Tuesday that U.S. housing starts fell last month to their lowest annual pace since November 2004. While economists saw that as a sign higher mortgage rates were slowing activity, the Mortgage Bankers Association said on Wednesday its seasonally adjusted index of mortgage application activity last week increased 4.6 percent. For details, see .
(Additional reporting by Julie Haviv in New York)
Chavez may price oil exports in euros (associated press)
MAY. 16 7:09 P.M. ET Venezuela's president Hugo Chavez said Tuesday that he would consider pricing his country's oil in euros instead of dollars in line with a similar declaration made by Iran. Earlier this month Iran's state television reported the country's Oil Ministry granted a license for its first euro-denominated market. That is an interesting proposal made by the president of Iran," Chavez told Britain's Channel 4 news. "We are free to choose too between the dollar and the euro.If the market were to succeed -- or if Iran simply demanded payment for its oil in euros -- commodities experts said it could lead central bankers around the world to convert some dollar reserves into euros, possibly causing a decline in the dollar's value.Oil is currently denominated in dollars around the globe, whether through direct sales between producers and consumers or in trades made on markets in New York and London, but Chavez said that he would be willing to seek an alternative.
So what the president of Iran says is recognizing the power of Europe. They have succeeded in integrating and have a single currency competing with the dollar, and Venezuela might also consider that," said Chavez, president of the world's fifth largest oil exporter. Iranian legislators earlier this year urged the government to set up the market to reduce the United States influence over the Islamic republic's economy. First floated in 2004 when reformist president Mohammad Khatami was in power, the idea of a euros-traded oil bourse gained new life after the stridently nationalist Mahmoud Ahmadinejad was elected president last summer.
Typhoon Chanchu threatens Taiwan, southern China; Hong Kong spared 52 minutes
ago SHANGHAI, China (AP) - A powerful typhoon roared toward China's southern coast, forcing the evacuation of more than a half-million people and the cancellation of dozens of flights, the Chinese government said Thursday. Typhoon Chanchu's eye was picking up speed and was expected to hit Guangdong province, one of China's biggest manufacturing centres, later in the day, China's Xinhua News Agency said.
Some 327,000 coastal Guangdong residents had already been moved inland Wednesday and more than 51,000 ships were ordered to return to harbour, Xinhua said. In Fujian province, just north of Guangdong, more than 307,000 people were evacuated and 42,000 ships were docked, it said. Some 26 - mainly domestic - flights out of Fujian also were cancelled and Shanghai-based China Eastern Airlines cancelled 38 flights headed for Hong Kong the nearby mainland city Shenzhen, it said.
After slamming into Guangdong, Chanchu was expected to churn up the coast to Fujian province, just across from Taiwan, said the Hong Kong Observatory's forecast and tracking map. The storm was picking up speed as it moved at 24 kilometres an hour with winds of 158 km/h near its centre. As the storm churned through the South China Sea, it caused an oil tanker to run aground near Taiwan's southern port Kaohsiung, officials said. Rescuers in helicopters lifted 13 crew members off the ship.
The typhoon, the strongest ever reported in the South China Sea in May, was heading toward Hong Kong earlier this week, but it changed course overnight, swirling about 225 kilometres east of the city Wednesday afternoon. The storm kicked up high waves and spawned showers but caused no major damage.
In southern Japan, high waves swept three 17-year-old male students from near a beach Wednesday afternoon, leaving one dead and another missing, officials said. They were in the water off Hateruma island in the southern island chain Okinawa when high waves swept them out to sea, said coast guard spokesman Shoji Kawabata. One was found floating near the island and later pronounced dead at a hospital, Kawabata said. Another was rescued by a local diving boat, while the third remained missing.
Chanchu swept over the Philippines last weekend, killing 37 people and destroying thousands of homes.
NATO GLOBAL POLICE FORCE
The Bible says the EU has to have its own Army. So if this will be the future EU army or their own Rapid Reaction force, the European Union will have a fast and swift Army that will control all the World as well as secure Israels safety in the future.
REVELATION 19:1919 And I saw the beast,(EU WORLD DICTATOR) and the kings of the earth, and their armies, gathered together to make war against him that sat on the horse, and against his army.
As we see here the World comes against Jerusalem and notice it says the EU will have its own Army as well as the World Armies. WHO IS THE LEADER (THE BEAST) EU WORLD DICTATOR., and his Army as well as the World Armies. Maybe Nato will be disbanded in favor of Individual Rapid reaction forces around the World. Only GOD will bring it about for sure, but it will come to pass no matter what.
The real business of NATO-GLOBAL POLICE FORCERisto E.J. Penttila International Herald Tribune TUESDAY, MAY 16, 2006
HELSINKI Let's face it: NATO has already become a global policeman. The question now is whether it will turn out to be a good cop or a bad cop. If NATO wants to be a good cop, it must work out principles and decision- making procedures for the most likely crises of the future - even if those crises are a far cry from the war games played during the Cold War. If NATO continues to deny that it has become a global policeman, it will act without legitimacy and without a moral compass. In other words, it will be a bad cop. Jaap de Hoop Scheffer, the secretary general of NATO, likes to say "NATO is not a global policeman." In a typical speech he repeats the sentence two or three times. To make sure that the point is not lost on more skeptical audiences he throws in a bit of French: "L'OTAN n'est pas le gendarme du monde.
The sound bite sends a clear signal. Yet, it does not stand up to closer scrutiny. NATO provides law and order to the citizens of Bosnia and Herzegovina. It patrols sea-lanes in the Mediterranean. It provides assistance to victims of hurricanes and earthquakes. It escorts children to school in Afghanistan. It educates officers in post-socialist states in the virtues of democracy. It provides logistical support for the African Union. It incarcerates war criminals. It fights terrorism. These are not war-fighting operations. They cannot even be classified as hardcore crisis management. They are low-tech and low-casualty. Their objective is to bring order to weak states and to help the inhabitants get back to living normal lives. And what is more: There is a growing demand for these kinds of law-and-order operations.
The African Union would love to have NATO help bring order to Darfur and other killing fields in Africa. At some point the Israelis and Palestinians are going to be ready for an international peacekeeping force. At that point NATO forces - most likely operating under the United Nations flag - could become a stabilizing element. And, of course, the Americans would be delighted to see NATO troops in Iraq. Law-and-order operations are not the only kind of task NATO has to confront in the future. Looking forward, the alliance is likely to be involved in two types of operations.
The first category, let's call it traditional operations, is both more dangerous and less likely. It consists of using military force to defend the vital interests of one or more member states. The operations could vary from the defense of the territorial integrity of a member state to an improbable (but imaginable) intervention to secure Western energy supplies. Decision- making in these situations will not be easy but there is a process for it. After all, NATO was created for these kinds of existential crises.The second category of future operations is both more likely and less dangerous (at least, it is less dangerous for the populations and vital interests of NATO member states). Let's call these operations policing operations. They consist of stopping genocide, patrolling borders, securing sea-lanes and thwarting warlords. Some of the operations in this category are nasty, others are easier to manage. For NATO, the key issue is to make the correct decision about whether or not to engage.
The problem is that most NATO member states and most of its civil servants think that genocides and civil wars are none of NATO's business. Whose business are they then? The United Nations peacekeepers are suffering from too many engagements and too few resources. The EU military forces are being developed but they will certainly not be able to shoulder difficult operations without the help of the United States for years to come. African peacekeepers are being trained but they are not ready yet. The only show in town is NATO. It seems quite natural for NATO to pay attention to conflicts, whatever their cause, that have or potentially have an important military content. It also seems natural that the alliance would get involved when something has to be done but no one else is up to the task.
NATO claims to defend freedom, democracy and liberty. Well, freedom, democracy and liberty are at stake when people are being slaughtered in Darfur. The same principles are also at stake when war-torn countries are trying to rebuild themselves.No one is suggesting that NATO should get involved in all the trouble spots of the world. What I am suggesting is that the alliance recognize what it has become and begin to act accordingly.
Risto E.J. Penttila is the director of the Finnish Business and Policy Forum.--------------------------------------------------------------------------------
REVELATION 19:1919 And I saw the beast,(EU WORLD DICTATOR) and the kings of the earth, and their armies, gathered together to make war against him that sat on the horse, and against his army.
As we see here the World comes against Jerusalem and notice it says the EU will have its own Army as well as the World Armies. WHO IS THE LEADER (THE BEAST) EU WORLD DICTATOR., and his Army as well as the World Armies. Maybe Nato will be disbanded in favor of Individual Rapid reaction forces around the World. Only GOD will bring it about for sure, but it will come to pass no matter what.
The real business of NATO-GLOBAL POLICE FORCERisto E.J. Penttila International Herald Tribune TUESDAY, MAY 16, 2006
HELSINKI Let's face it: NATO has already become a global policeman. The question now is whether it will turn out to be a good cop or a bad cop. If NATO wants to be a good cop, it must work out principles and decision- making procedures for the most likely crises of the future - even if those crises are a far cry from the war games played during the Cold War. If NATO continues to deny that it has become a global policeman, it will act without legitimacy and without a moral compass. In other words, it will be a bad cop. Jaap de Hoop Scheffer, the secretary general of NATO, likes to say "NATO is not a global policeman." In a typical speech he repeats the sentence two or three times. To make sure that the point is not lost on more skeptical audiences he throws in a bit of French: "L'OTAN n'est pas le gendarme du monde.
The sound bite sends a clear signal. Yet, it does not stand up to closer scrutiny. NATO provides law and order to the citizens of Bosnia and Herzegovina. It patrols sea-lanes in the Mediterranean. It provides assistance to victims of hurricanes and earthquakes. It escorts children to school in Afghanistan. It educates officers in post-socialist states in the virtues of democracy. It provides logistical support for the African Union. It incarcerates war criminals. It fights terrorism. These are not war-fighting operations. They cannot even be classified as hardcore crisis management. They are low-tech and low-casualty. Their objective is to bring order to weak states and to help the inhabitants get back to living normal lives. And what is more: There is a growing demand for these kinds of law-and-order operations.
The African Union would love to have NATO help bring order to Darfur and other killing fields in Africa. At some point the Israelis and Palestinians are going to be ready for an international peacekeeping force. At that point NATO forces - most likely operating under the United Nations flag - could become a stabilizing element. And, of course, the Americans would be delighted to see NATO troops in Iraq. Law-and-order operations are not the only kind of task NATO has to confront in the future. Looking forward, the alliance is likely to be involved in two types of operations.
The first category, let's call it traditional operations, is both more dangerous and less likely. It consists of using military force to defend the vital interests of one or more member states. The operations could vary from the defense of the territorial integrity of a member state to an improbable (but imaginable) intervention to secure Western energy supplies. Decision- making in these situations will not be easy but there is a process for it. After all, NATO was created for these kinds of existential crises.The second category of future operations is both more likely and less dangerous (at least, it is less dangerous for the populations and vital interests of NATO member states). Let's call these operations policing operations. They consist of stopping genocide, patrolling borders, securing sea-lanes and thwarting warlords. Some of the operations in this category are nasty, others are easier to manage. For NATO, the key issue is to make the correct decision about whether or not to engage.
The problem is that most NATO member states and most of its civil servants think that genocides and civil wars are none of NATO's business. Whose business are they then? The United Nations peacekeepers are suffering from too many engagements and too few resources. The EU military forces are being developed but they will certainly not be able to shoulder difficult operations without the help of the United States for years to come. African peacekeepers are being trained but they are not ready yet. The only show in town is NATO. It seems quite natural for NATO to pay attention to conflicts, whatever their cause, that have or potentially have an important military content. It also seems natural that the alliance would get involved when something has to be done but no one else is up to the task.
NATO claims to defend freedom, democracy and liberty. Well, freedom, democracy and liberty are at stake when people are being slaughtered in Darfur. The same principles are also at stake when war-torn countries are trying to rebuild themselves.No one is suggesting that NATO should get involved in all the trouble spots of the world. What I am suggesting is that the alliance recognize what it has become and begin to act accordingly.
Risto E.J. Penttila is the director of the Finnish Business and Policy Forum.--------------------------------------------------------------------------------
EU NY STOCK MARKET MERGER MAYBE
The Bible plainly says the European Union will control the Money of the World in the future, so this could be the beggining if EURONEXT AND NEW YORK STOCK EXCHANGES MERGE. If they do merge then the EU will develope a micro-chip system that will work because Revelation says the EU will make every one on Earth recieve a Chip in their right hand or forehead or they will be murdered.
Euronext, NYSE discuss merger proposals: source By Mathieu Robbins Tue May 16, 4:01 PM
ET LONDON/NEW YORK (Reuters) - European share markets operator Euronext and New York rival NYSE Group Inc. are looking at merger options as industry players rush to team up, said a source familiar with the matter on Tuesday.
Euronext (ENXT.PA) advisers met NYSE (NYSE:NYX - news) management in New York on Monday and discussed options such as an all-share deal, a cash offer or the creation of a new company, in which investors of both exchanges would get cash and shares, the source said. NYSE's Chief Executive John Thain and his Euronext counterpart Jean-Francois Theodore have met several times in recent weeks, including at least once last week, the source said. There is only a limited number of exchanges Euronext could merge with so it's normal they are talking," said Michael Long, an analyst at Keefe, Bruyette & Woods.
They want to flesh out their options and the best way to do that is to meet. The exchanges are jostling for position in a frenzy of merger talks among European bourses. This has been spurred on by activist shareholders in Euronext and Deutsche Boerse AG (DB1Gn.DE) pushing the two exchanges to merge, as well as several takeover approaches to the London Stock Exchange (LSE.L) (LSE). Exchanges are under pressure to consolidate to boost volumes, create economies of scale that reduce trading costs and to attract more companies to list their shares.
The LSE's shares have surged around 150 percent over the past 12 months, while it has been courted by Deutsche Boerse, Euronext (ENXT.AS), Australia's bank Macquarie Bank Ltd. (MBL.AX) and U.S. exchange Nasdaq Stock Market Inc.
(Nasdaq:NDAQ - news), although it has rejected offers as being too low. Euronext's imminent annual general meeting on May 23 has also focused the attention of the Paris-based company on making progress in its own plans and it has said it is looking into alternatives to a Boerse merger, which it could present at the meeting. Both Euronext and NYSE have had contact with several potential tie-up counterparties in the last few weeks as they ponder a range of different strategic options and tie-ups. Euronext is still in talks with Deutsche Boerse, while NYSE is still considering a bid for the London Stock Exchange if the talks with Euronext do not lead to a successful deal.
The New York exchange is talking first to Euronext because the Paris-based exchange wants to be able to brief its shareholders on the outcome of talks by the time of its annual meeting, sources familiar with the situation said. On the other hand, the NYSE's main rival to buy the London exchange, Nasdaq, is largely restrained from bidding for several months. This leaves the NYSE time to think through alternatives before focusing on any bid for London. Euronext, which the source said has asked the French treasury and market regulator AMF if they have any objection to a tie-up, reiterated on Monday it was open to a deal with Deutsche Boerse on the right terms.
Euronext said on Tuesday it was still considering several options ahead of its annual meeting, but declined to comment further.
SHAREHOLDERS MIXED ON DEAL
Among hurdles the NYSE would need to surmount is hostility to a deal from some of its own shareholders. As I understand Euronext, I don't know that I'd be wildly in favor of a merger," said Thomas Caldwell, chairman of Caldwell Asset Management Inc., whose firm owns or controls more than 4 million NYSE shares and a smaller stake in the London Stock Exchange. He thinks the NYSE should focus on the U.S. market.
But shareholder and former NYSE seat holder Bill Power said a deal could be good if it was non-dilutive. He cited Euronext's Liffe derivatives exchange and Liffe Connect electronic trading platform as benefits of such a deal. Another NYSE shareholder, who spoke on condition of anonymity, also cited Euronext's Liffe division as a good reason for going ahead with a deal.
But Nasdaq's recent accumulation of a 24.1 percent stake in the LSE does make it harder for the NYSE to bid for the London bourse, the shareholder said. If the NYSE bought the LSE for stock, Nasdaq would become a large shareholder of the Big Board, while if it was for cash, it would be added to Nasdaq's war chest for acquisitions.
(Additional reporting by Megan Davies and David Cullen)
Fears for eurozone if dollar crashes · ECB boss warns of future damage to export demand · Poor US economic data adds to the pressure Larry Elliott, economics editorWednesday May 17, 2006 The Guardian
The European Central Bank warned last night of the dangers to the world economy of a plunge in the dollar as the US currency came under renewed pressure on foreign exchange markets.
Christian Noyer, a member of the ECB's governing council, said a marked depreciation in the greenback would be bad for growth in the 12-nation eurozone and run counter to agreements made by the G7 industrial nations.
Mr Noyer's remarks, made in an interview on Reuters TV, came as a business survey in Germany showed that a stronger euro and higher commodity prices may already be hurting confidence.
The ZEW expectations index - a barometer of Germany's future economic health - fell sharply from 62.7 in April to 50 this month, its fourth consecutive decline. Analysts said Germany - the eurozone's biggest economy - had been boosted by strong demand for its exports, but that this trend would be jeopardised if the single currency continued to rise.
"The evidence since the euro's launch is that its movements affect economic activity in the zone with a lag of 12 to 18 months," said Stephen Lewis of Insinger de Beaufort. "Euro appreciation is storing up trouble for the future.
The weaker than expected ZEW index temporarily halted the slide in the dollar. It resumed its decline, however, after the release in Washington of data showing softness in the American economy. Core producer prices - an indication of the cost pressures facing US industry - showed a 0.1% monthly increase, while the number of new houses being built stood at 1.85m, 100,000 fewer than expected.
While foreign exchange dealers remain confident that the ECB will raise rates by at least a quarter point next month, the US figures prompted speculation that the Federal Reserve will pull back from raising borrowing costs for a 17th successive time at its June meeting.
By lunchtime in New York, the euro was trading at $1.2820 against the US currency, up from $1.2795 on Monday. Sterling moved up from $1.8793 overnight to $1.8820, taking its rise since the turn of the year to almost 10%. The pound held steady against the euro at €1.4680 and was close to a 10-month high when measured by its trade-weighted index against a basket of currencies.
Mr Noyer said he did not believe the euro's rise was the start of the sort of disorderly unwinding of global imbalances feared by some economists. Any such development would be counter-productive, he added.
I exclude that kind of development. I don't think it would happen but if it were to happen it would not anyhow correct the imbalances, it would aggravate global imbalances. This would be worrying for world growth ... This is certainly not something which is hoped or wished for by any authority within the G7.
The euro is up almost 6% against the dollar since the start of April. "If we had big movements in the foreign exchange market which could hamper the economic growth in the euro area, it would run exactly contrary to what is deemed as necessary by the G7 to help rebalancing the global economy," Mr Noyer said.
Special reportsThe euro European integration
British politics and the euro
Currency converterFind out what your cash is worth abroad
See the new currencyPhoto gallery: know your euro notes and coins
MapA graphical guide to euroland
Talk about itShould Britain join the single currency?
Useful linksUK Independence party
Quest database: your euro questions answered (EU)
Euronext, NYSE discuss merger proposals: source By Mathieu Robbins Tue May 16, 4:01 PM
ET LONDON/NEW YORK (Reuters) - European share markets operator Euronext and New York rival NYSE Group Inc. are looking at merger options as industry players rush to team up, said a source familiar with the matter on Tuesday.
Euronext (ENXT.PA) advisers met NYSE (NYSE:NYX - news) management in New York on Monday and discussed options such as an all-share deal, a cash offer or the creation of a new company, in which investors of both exchanges would get cash and shares, the source said. NYSE's Chief Executive John Thain and his Euronext counterpart Jean-Francois Theodore have met several times in recent weeks, including at least once last week, the source said. There is only a limited number of exchanges Euronext could merge with so it's normal they are talking," said Michael Long, an analyst at Keefe, Bruyette & Woods.
They want to flesh out their options and the best way to do that is to meet. The exchanges are jostling for position in a frenzy of merger talks among European bourses. This has been spurred on by activist shareholders in Euronext and Deutsche Boerse AG (DB1Gn.DE) pushing the two exchanges to merge, as well as several takeover approaches to the London Stock Exchange (LSE.L) (LSE). Exchanges are under pressure to consolidate to boost volumes, create economies of scale that reduce trading costs and to attract more companies to list their shares.
The LSE's shares have surged around 150 percent over the past 12 months, while it has been courted by Deutsche Boerse, Euronext (ENXT.AS), Australia's bank Macquarie Bank Ltd. (MBL.AX) and U.S. exchange Nasdaq Stock Market Inc.
(Nasdaq:NDAQ - news), although it has rejected offers as being too low. Euronext's imminent annual general meeting on May 23 has also focused the attention of the Paris-based company on making progress in its own plans and it has said it is looking into alternatives to a Boerse merger, which it could present at the meeting. Both Euronext and NYSE have had contact with several potential tie-up counterparties in the last few weeks as they ponder a range of different strategic options and tie-ups. Euronext is still in talks with Deutsche Boerse, while NYSE is still considering a bid for the London Stock Exchange if the talks with Euronext do not lead to a successful deal.
The New York exchange is talking first to Euronext because the Paris-based exchange wants to be able to brief its shareholders on the outcome of talks by the time of its annual meeting, sources familiar with the situation said. On the other hand, the NYSE's main rival to buy the London exchange, Nasdaq, is largely restrained from bidding for several months. This leaves the NYSE time to think through alternatives before focusing on any bid for London. Euronext, which the source said has asked the French treasury and market regulator AMF if they have any objection to a tie-up, reiterated on Monday it was open to a deal with Deutsche Boerse on the right terms.
Euronext said on Tuesday it was still considering several options ahead of its annual meeting, but declined to comment further.
SHAREHOLDERS MIXED ON DEAL
Among hurdles the NYSE would need to surmount is hostility to a deal from some of its own shareholders. As I understand Euronext, I don't know that I'd be wildly in favor of a merger," said Thomas Caldwell, chairman of Caldwell Asset Management Inc., whose firm owns or controls more than 4 million NYSE shares and a smaller stake in the London Stock Exchange. He thinks the NYSE should focus on the U.S. market.
But shareholder and former NYSE seat holder Bill Power said a deal could be good if it was non-dilutive. He cited Euronext's Liffe derivatives exchange and Liffe Connect electronic trading platform as benefits of such a deal. Another NYSE shareholder, who spoke on condition of anonymity, also cited Euronext's Liffe division as a good reason for going ahead with a deal.
But Nasdaq's recent accumulation of a 24.1 percent stake in the LSE does make it harder for the NYSE to bid for the London bourse, the shareholder said. If the NYSE bought the LSE for stock, Nasdaq would become a large shareholder of the Big Board, while if it was for cash, it would be added to Nasdaq's war chest for acquisitions.
(Additional reporting by Megan Davies and David Cullen)
Fears for eurozone if dollar crashes · ECB boss warns of future damage to export demand · Poor US economic data adds to the pressure Larry Elliott, economics editorWednesday May 17, 2006 The Guardian
The European Central Bank warned last night of the dangers to the world economy of a plunge in the dollar as the US currency came under renewed pressure on foreign exchange markets.
Christian Noyer, a member of the ECB's governing council, said a marked depreciation in the greenback would be bad for growth in the 12-nation eurozone and run counter to agreements made by the G7 industrial nations.
Mr Noyer's remarks, made in an interview on Reuters TV, came as a business survey in Germany showed that a stronger euro and higher commodity prices may already be hurting confidence.
The ZEW expectations index - a barometer of Germany's future economic health - fell sharply from 62.7 in April to 50 this month, its fourth consecutive decline. Analysts said Germany - the eurozone's biggest economy - had been boosted by strong demand for its exports, but that this trend would be jeopardised if the single currency continued to rise.
"The evidence since the euro's launch is that its movements affect economic activity in the zone with a lag of 12 to 18 months," said Stephen Lewis of Insinger de Beaufort. "Euro appreciation is storing up trouble for the future.
The weaker than expected ZEW index temporarily halted the slide in the dollar. It resumed its decline, however, after the release in Washington of data showing softness in the American economy. Core producer prices - an indication of the cost pressures facing US industry - showed a 0.1% monthly increase, while the number of new houses being built stood at 1.85m, 100,000 fewer than expected.
While foreign exchange dealers remain confident that the ECB will raise rates by at least a quarter point next month, the US figures prompted speculation that the Federal Reserve will pull back from raising borrowing costs for a 17th successive time at its June meeting.
By lunchtime in New York, the euro was trading at $1.2820 against the US currency, up from $1.2795 on Monday. Sterling moved up from $1.8793 overnight to $1.8820, taking its rise since the turn of the year to almost 10%. The pound held steady against the euro at €1.4680 and was close to a 10-month high when measured by its trade-weighted index against a basket of currencies.
Mr Noyer said he did not believe the euro's rise was the start of the sort of disorderly unwinding of global imbalances feared by some economists. Any such development would be counter-productive, he added.
I exclude that kind of development. I don't think it would happen but if it were to happen it would not anyhow correct the imbalances, it would aggravate global imbalances. This would be worrying for world growth ... This is certainly not something which is hoped or wished for by any authority within the G7.
The euro is up almost 6% against the dollar since the start of April. "If we had big movements in the foreign exchange market which could hamper the economic growth in the euro area, it would run exactly contrary to what is deemed as necessary by the G7 to help rebalancing the global economy," Mr Noyer said.
Special reportsThe euro European integration
British politics and the euro
Currency converterFind out what your cash is worth abroad
See the new currencyPhoto gallery: know your euro notes and coins
MapA graphical guide to euroland
Talk about itShould Britain join the single currency?
Useful linksUK Independence party
Quest database: your euro questions answered (EU)
Tuesday, May 16, 2006
GLOBAL STOCKS IN TROUBLE
Is Ezekiel 7:19 and James 5:1-3 here, time will tell??????????????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
EZEKIEL 7:1919 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.
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.
And the result of the future stock market crash!!!!!!!!!!!!, The EU COMPUTER CHIP SYSTEM WILL COME INTO PLAY.!!!!!!!!
REVELATION 13:16-18
16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
US dollar weakness likely to crash global stocks
The US dollar appears to be entering a long-awaited devaluation period to compensate for global imbalances. But this is also likely to spark a significant sell-off of US equities and bonds because many investors will not want to hold assets valued in a currency that is in decline. Monday, May 15 - 2006 at 09:35
Last Friday equity markets around the world saw one of their worst days for three years, and this may be just a taste of what is to come if the US dollar bears are proved right. Kuwait's 1% revaluation against the US dollar was insignificant in itself but a powerful warning about the sentiment of the market which has been impacted by a perceived end to interest rate tightening by the Federal Reserve. With interest rates apparently on hold, the US dollar is less attractive than other currencies such as the euro where interest rates look likely to go higher.
David Bloom, currency strategist at the world's second largest bank HSBC, says this switch is a 'regime change' and forecasts $1.40 to the euro over the next 12 months. His warning is that phase two of a US dollar decline will result is an equity sell-off and 'an increase in volatility and uncertainty across the board.
Complacency to end
Perhaps this change of pace should not come as such a shock. Equity markets have been remarkably benign for a long period, and a return to greater levels of volatility could be expected. Moreover, global stock markets have just posted a six-year high, and cyclical peaks are not normally long lasting. On the other hand, the weakness of the US dollar is benefiting
precious metal prices which rise in nominal terms to compensate for a weakening dollar, particularly in the case of gold which is a quasi-monetary instrument. So as the US dollar declines further the upward momentum seen in the gold price is likely to continue.
However, the sharpness of an equity sell-off and US dollar decline will determine what happens to precious metals next. If major investors all dump the US dollar and US bonds and equities at the same time then a financial crisis could push even more money into gold as a safe haven asset. But if this crisis deepened then investors might have to liquidate gold positions and gold shares to shore up their balance sheets.
Historical precedent
Many past periods of crisis on Wall Street have been precipitated by major shifts in the value of the US currency, a fact not ignored by the International Monetary Fund whose officials are concerned to ensure that US dollar weakness does not cause a full blown financial crisis. IMF officials are currently in emergency talks with governments and a US dollar support package
could emerge. The intelligent investor will not be too impressed by such developments and if holding long positions in US equities or bonds could well choose to use any period of stability underpinned by IMF intervention as a point to quietly leave these markets. For waiting around for a disaster to strike would not be a bright move.
Major quake rocks Pacific near Kermadec Islands Wellington, New Zealand-16 May 2006 02:44
A magnitude 7,4 earthquake struck in the Pacific Ocean, off the coast of the Kermadec Islands, at 10.39am GMT on Tuesday, the United States Geological Survey reported on its website. The quake -- which hit at a depth of 148km -- was located some 290km south, south-west of Raoul Island, in the Kermadec Islands chain. The Kermadecs, some 810km north-east of Auckland, are New Zealand's northernmost territory and one of the most active sites in the world for earthquakes caused by tectonic plate movement. Reports from Whakatane on the east coast of New Zealand said the quake rolled for 30 seconds, while a Wanganui resident on the west coast said the shaking lasted almost a minute. A Whakatane police officer said he was sitting on a roller chair talking to the police communications centre in Auckland when it struck. Things started moving and I thought this is a goodie, Sergeant Andrew O'Reilly said.
The Kermadec area has been experiencing up to 30 earthquakes a day since March 18 when a New Zealand conservation worker was killed in a volcanic eruption on volatile Raoul Island. The Pacific Tsunami Warning Centre said that "no destructive Pacific-wide tsunami threat exists based on historical earthquake and tsunami data", but cautioned that earthquakes of this
magnitude can sometimes spark local tsunamis. Authorities in the region should be aware of this possibility and take appropriate action," the tsunami centre said in its statement. -- AFP
AFX News Limited Forex - Dollar back in trouble as US data points to Fed pause in June, 05.16.2006, 12:10 PM
LONDON (AFX) - The dollar suffered a renewed bout of selling after relatively tame core US producer price data and another
soft housing report reinforced expectations that the US Federal Reserve will not raise the cost of borrowing in June. Though the Labor Department reported that higher energy costs pushed US producer prices up a higher-than-expected monthly 0.9 pct in April, the core reading, which excludes food and energy prices, came in below forecasts. It was up 0.1 pct for the second month running against expectations of a 0.2 pct rise.
Meanwhile, government figures showed that construction of new US homes fell back for the third month running in April. Starts fell 7.4 pct in April to a seasonally adjusted 1.85 mln annualised units, the lowest level since November 2004. It was the largest drop in more than a year and the last time there were three straight monthly declines in construction was the winter of 2003-2004. The decline in housing starts in April was larger than expected. Economists had forecast housing starts to remain basically flat at 1.97 mln units.
Following the data, the euro moved up to a high of 1.2870 usd and back toward the 1.2973 usd one-year high recorded yesterday. Meanwhile, the dollar fell below 110 yen and toward the 109.32 low recorded last September. 'The US PPI report indicates inflation remains contained (at least on the core basis), and the sharper than expected weakness in housing signals
fresh weakness is ahead for the dollar,' said Brian Dolan, head of currency research at Gain Capital. The slowing in the housing market that the Fed has anticipated is materialising and the benign inflation readings fit their outlook, both suggesting that no further Fed tightening is needed,' he added.
The minutes to the last meeting of the rate-setting Federal Open Market Committee indicated that the US rate outlook is very much data dependent. The US currency has fallen heavily over the past month amid growing concern about global economic imbalances, speculation that US interest rates are near a peak at 5.00 pct and signs of reserve diversification by world central
banks. Expectations of an imminent Fed pause contrast with predictions of tighter monetary policy from the European Central Bank, helping the euro rapidly surge up towards 1.30 usd.
'With the ECB talking up the possibility of a 50 basis point increment for the tightening cycle while the Fed advocates a pause, cyclical drivers point to euro strength,' said Mitul Kotecha, head of global FX strategy at CALYON. 'Additionally, with the growing focus on structural factors pointing to further downside for the dollar, we favour buying the euro...with a target
1.3245 usd and a stop at 1.2595 usd,' he added. Earlier, the euro suffered little damage from a disappointing business survey in Germany, the single currency zone's largest single economy.
The euro initially fell back below 1.28 usd after the ZEW institute said its main index on economic expectations fell by 12.7 points to a six-month low of +50.0 in May, as a result of the strong euro and sky-high oil prices. Analysts had been predicting only a modest fall to +60.0.
London 1450 GMT
London 1133 GMT
US dollar
yen 110.02 down from 110.31
sfr 1.2078 down from 1.2116
Euro usd 1.2852 up from 1.2814
stg 0.6815 up from 0.6813
yen 141.42 up from 141.35
sfr 1.5526 down from 1.5527
Sterling usd 1.8857 up from 1.8812
yen 207.52 up from 207.48
sfr 2.2778 down from 2.2790
Australian dollar usd 0.7672 up from 0.7618
stg 0.4068 up from 0.4051
yen 84.41 up from 84.03
pan.pylas@afxnews.com pp/ks/cmr/pp/slm ,COPYRIGHT
EZEKIEL 7:1919 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.
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.
And the result of the future stock market crash!!!!!!!!!!!!, The EU COMPUTER CHIP SYSTEM WILL COME INTO PLAY.!!!!!!!!
REVELATION 13:16-18
16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
US dollar weakness likely to crash global stocks
The US dollar appears to be entering a long-awaited devaluation period to compensate for global imbalances. But this is also likely to spark a significant sell-off of US equities and bonds because many investors will not want to hold assets valued in a currency that is in decline. Monday, May 15 - 2006 at 09:35
Last Friday equity markets around the world saw one of their worst days for three years, and this may be just a taste of what is to come if the US dollar bears are proved right. Kuwait's 1% revaluation against the US dollar was insignificant in itself but a powerful warning about the sentiment of the market which has been impacted by a perceived end to interest rate tightening by the Federal Reserve. With interest rates apparently on hold, the US dollar is less attractive than other currencies such as the euro where interest rates look likely to go higher.
David Bloom, currency strategist at the world's second largest bank HSBC, says this switch is a 'regime change' and forecasts $1.40 to the euro over the next 12 months. His warning is that phase two of a US dollar decline will result is an equity sell-off and 'an increase in volatility and uncertainty across the board.
Complacency to end
Perhaps this change of pace should not come as such a shock. Equity markets have been remarkably benign for a long period, and a return to greater levels of volatility could be expected. Moreover, global stock markets have just posted a six-year high, and cyclical peaks are not normally long lasting. On the other hand, the weakness of the US dollar is benefiting
precious metal prices which rise in nominal terms to compensate for a weakening dollar, particularly in the case of gold which is a quasi-monetary instrument. So as the US dollar declines further the upward momentum seen in the gold price is likely to continue.
However, the sharpness of an equity sell-off and US dollar decline will determine what happens to precious metals next. If major investors all dump the US dollar and US bonds and equities at the same time then a financial crisis could push even more money into gold as a safe haven asset. But if this crisis deepened then investors might have to liquidate gold positions and gold shares to shore up their balance sheets.
Historical precedent
Many past periods of crisis on Wall Street have been precipitated by major shifts in the value of the US currency, a fact not ignored by the International Monetary Fund whose officials are concerned to ensure that US dollar weakness does not cause a full blown financial crisis. IMF officials are currently in emergency talks with governments and a US dollar support package
could emerge. The intelligent investor will not be too impressed by such developments and if holding long positions in US equities or bonds could well choose to use any period of stability underpinned by IMF intervention as a point to quietly leave these markets. For waiting around for a disaster to strike would not be a bright move.
Major quake rocks Pacific near Kermadec Islands Wellington, New Zealand-16 May 2006 02:44
A magnitude 7,4 earthquake struck in the Pacific Ocean, off the coast of the Kermadec Islands, at 10.39am GMT on Tuesday, the United States Geological Survey reported on its website. The quake -- which hit at a depth of 148km -- was located some 290km south, south-west of Raoul Island, in the Kermadec Islands chain. The Kermadecs, some 810km north-east of Auckland, are New Zealand's northernmost territory and one of the most active sites in the world for earthquakes caused by tectonic plate movement. Reports from Whakatane on the east coast of New Zealand said the quake rolled for 30 seconds, while a Wanganui resident on the west coast said the shaking lasted almost a minute. A Whakatane police officer said he was sitting on a roller chair talking to the police communications centre in Auckland when it struck. Things started moving and I thought this is a goodie, Sergeant Andrew O'Reilly said.
The Kermadec area has been experiencing up to 30 earthquakes a day since March 18 when a New Zealand conservation worker was killed in a volcanic eruption on volatile Raoul Island. The Pacific Tsunami Warning Centre said that "no destructive Pacific-wide tsunami threat exists based on historical earthquake and tsunami data", but cautioned that earthquakes of this
magnitude can sometimes spark local tsunamis. Authorities in the region should be aware of this possibility and take appropriate action," the tsunami centre said in its statement. -- AFP
AFX News Limited Forex - Dollar back in trouble as US data points to Fed pause in June, 05.16.2006, 12:10 PM
LONDON (AFX) - The dollar suffered a renewed bout of selling after relatively tame core US producer price data and another
soft housing report reinforced expectations that the US Federal Reserve will not raise the cost of borrowing in June. Though the Labor Department reported that higher energy costs pushed US producer prices up a higher-than-expected monthly 0.9 pct in April, the core reading, which excludes food and energy prices, came in below forecasts. It was up 0.1 pct for the second month running against expectations of a 0.2 pct rise.
Meanwhile, government figures showed that construction of new US homes fell back for the third month running in April. Starts fell 7.4 pct in April to a seasonally adjusted 1.85 mln annualised units, the lowest level since November 2004. It was the largest drop in more than a year and the last time there were three straight monthly declines in construction was the winter of 2003-2004. The decline in housing starts in April was larger than expected. Economists had forecast housing starts to remain basically flat at 1.97 mln units.
Following the data, the euro moved up to a high of 1.2870 usd and back toward the 1.2973 usd one-year high recorded yesterday. Meanwhile, the dollar fell below 110 yen and toward the 109.32 low recorded last September. 'The US PPI report indicates inflation remains contained (at least on the core basis), and the sharper than expected weakness in housing signals
fresh weakness is ahead for the dollar,' said Brian Dolan, head of currency research at Gain Capital. The slowing in the housing market that the Fed has anticipated is materialising and the benign inflation readings fit their outlook, both suggesting that no further Fed tightening is needed,' he added.
The minutes to the last meeting of the rate-setting Federal Open Market Committee indicated that the US rate outlook is very much data dependent. The US currency has fallen heavily over the past month amid growing concern about global economic imbalances, speculation that US interest rates are near a peak at 5.00 pct and signs of reserve diversification by world central
banks. Expectations of an imminent Fed pause contrast with predictions of tighter monetary policy from the European Central Bank, helping the euro rapidly surge up towards 1.30 usd.
'With the ECB talking up the possibility of a 50 basis point increment for the tightening cycle while the Fed advocates a pause, cyclical drivers point to euro strength,' said Mitul Kotecha, head of global FX strategy at CALYON. 'Additionally, with the growing focus on structural factors pointing to further downside for the dollar, we favour buying the euro...with a target
1.3245 usd and a stop at 1.2595 usd,' he added. Earlier, the euro suffered little damage from a disappointing business survey in Germany, the single currency zone's largest single economy.
The euro initially fell back below 1.28 usd after the ZEW institute said its main index on economic expectations fell by 12.7 points to a six-month low of +50.0 in May, as a result of the strong euro and sky-high oil prices. Analysts had been predicting only a modest fall to +60.0.
London 1450 GMT
London 1133 GMT
US dollar
yen 110.02 down from 110.31
sfr 1.2078 down from 1.2116
Euro usd 1.2852 up from 1.2814
stg 0.6815 up from 0.6813
yen 141.42 up from 141.35
sfr 1.5526 down from 1.5527
Sterling usd 1.8857 up from 1.8812
yen 207.52 up from 207.48
sfr 2.2778 down from 2.2790
Australian dollar usd 0.7672 up from 0.7618
stg 0.4068 up from 0.4051
yen 84.41 up from 84.03
pan.pylas@afxnews.com pp/ks/cmr/pp/slm ,COPYRIGHT
MERAPI VOLANO HAPPENINGS
Merapi Volcano effects in story 1 and a minor Quake in new Zealand in story 2.
List of Dangers Posed by Erupting Volcano By The Associated Press Mon May 15, 2:40 PM
ET The eruption of a volcano such as Indonesia's Mount Merapi can unleash powerful forces. Some of the dangers posed by a volcanic eruption. PYROCLASTIC FLOWS: These clouds of volcanic ash, gas and debris are the biggest threat to those living on the slopes of Mount Merapi.
At the bottom of the flow is a layer of coarse rock fragments that bursts forth like a shotgun blast. It hugs the ground, and can splinter forests like toothpicks and destroy buildings. The top layer is a turbulent ash cloud. A pyroclastic cloud is fast, moving at 50 to 100 mph. And it's hot — up to 1,500 degrees. In 1980, Mount St. Helens in Oregon directed a blast of hot material that reached 300 mph.
MAGMA: The boiling magma rumbling and rising to the surface of a volcano and forming lava flows contains dissolved carbon dioxide and other gases. Fresh, foaming magma contains more gas than old magma. If the gas content is high, the explosivity is greater.
ASH: The most likely and widespread danger from any volcano is ash. Initially, ash is blasted 60,000 feet into the atmosphere and winds can carry it for hundreds of miles. The 1883 eruption of Indonesia's Krakatoa volcano, one of the most destructive in history, killed 36,000 people and covered Java with ash. Volcanic ash is not the product of combustion like ash from a wood stove. Gritty and abrasive, it is made up of tiny fragments of rock, natural glass and minerals that get pulverized by earthquakes and internal explosions. The plume can choke engines of passing aircraft and disrupt telecommunications signals.
TEPHRA: Tephra is a catchall term for fragments of volcanic rock and lava thrown airborne. Some tephra is nearly four feet wide, but most of it is gravel that acts like shrapnel and shreds whatever is in its path.
LAHAR: Lahar is a catastrophic slurry of water and rock fragments that rushes down the volcano's slopes. It looks like wet concrete and can carry house-sized boulders, trees, even bridges. It follows river valleys, often growing and gaining speed as it consumes the water in the channel.
Moderate quake rattles New Zealand capital Sun May 14, 6:56 PM ET
WELLINGTON (AFP) - An earthquake measuring 5.0 on the Richter scale shook the New Zealand capital of Wellington, seismologists said. There were no immediate reports of injuries or damage from the moderate quake which struck at 5:32 am (1732 GMT Sunday).
The tremblor was located 50 kilometres (31 miles) northwest of Wellington and 60 kilometres below the earth's surface, GNS Science, the nation's geological agency, said in a statement on its website. The quake was felt throughout the Wellington area. GNS records 14,000 earthquakes in and around New Zealand every year as the country is positioned on the boundary of the Australian and Pacific tectonic plates. Most of these quakes are small with only 150 on average felt by residents.
List of Dangers Posed by Erupting Volcano By The Associated Press Mon May 15, 2:40 PM
ET The eruption of a volcano such as Indonesia's Mount Merapi can unleash powerful forces. Some of the dangers posed by a volcanic eruption. PYROCLASTIC FLOWS: These clouds of volcanic ash, gas and debris are the biggest threat to those living on the slopes of Mount Merapi.
At the bottom of the flow is a layer of coarse rock fragments that bursts forth like a shotgun blast. It hugs the ground, and can splinter forests like toothpicks and destroy buildings. The top layer is a turbulent ash cloud. A pyroclastic cloud is fast, moving at 50 to 100 mph. And it's hot — up to 1,500 degrees. In 1980, Mount St. Helens in Oregon directed a blast of hot material that reached 300 mph.
MAGMA: The boiling magma rumbling and rising to the surface of a volcano and forming lava flows contains dissolved carbon dioxide and other gases. Fresh, foaming magma contains more gas than old magma. If the gas content is high, the explosivity is greater.
ASH: The most likely and widespread danger from any volcano is ash. Initially, ash is blasted 60,000 feet into the atmosphere and winds can carry it for hundreds of miles. The 1883 eruption of Indonesia's Krakatoa volcano, one of the most destructive in history, killed 36,000 people and covered Java with ash. Volcanic ash is not the product of combustion like ash from a wood stove. Gritty and abrasive, it is made up of tiny fragments of rock, natural glass and minerals that get pulverized by earthquakes and internal explosions. The plume can choke engines of passing aircraft and disrupt telecommunications signals.
TEPHRA: Tephra is a catchall term for fragments of volcanic rock and lava thrown airborne. Some tephra is nearly four feet wide, but most of it is gravel that acts like shrapnel and shreds whatever is in its path.
LAHAR: Lahar is a catastrophic slurry of water and rock fragments that rushes down the volcano's slopes. It looks like wet concrete and can carry house-sized boulders, trees, even bridges. It follows river valleys, often growing and gaining speed as it consumes the water in the channel.
Moderate quake rattles New Zealand capital Sun May 14, 6:56 PM ET
WELLINGTON (AFP) - An earthquake measuring 5.0 on the Richter scale shook the New Zealand capital of Wellington, seismologists said. There were no immediate reports of injuries or damage from the moderate quake which struck at 5:32 am (1732 GMT Sunday).
The tremblor was located 50 kilometres (31 miles) northwest of Wellington and 60 kilometres below the earth's surface, GNS Science, the nation's geological agency, said in a statement on its website. The quake was felt throughout the Wellington area. GNS records 14,000 earthquakes in and around New Zealand every year as the country is positioned on the boundary of the Australian and Pacific tectonic plates. Most of these quakes are small with only 150 on average felt by residents.
Sunday, May 14, 2006
GLOBAL STOCK MARKET STUMBLES
Global stock markets tumble as U.S. dollar shatters North Korea Times
Saturday 13th May, 2006
Equity markets around the world plummeted Friday as the U.S. dollar went into freefall.
The American currency's near collapse followed several weeks of declines, which has seen the dollar lose 7% of its value against the euro, yen, and the pound, in the last month alone. The dollar index (weighted against a number of currencies) has fallen to its lowest level since October 1997. The relentless selling has failed to cause even the shallowest of corrections.
Friday's announcement by the Trade Department of a 5.6% fall in the trade deficit for April, coming in at $62 billion against analysts expectations of $67 billion, failed to arrest the slide.
The dollar rout has unnerved global stock markets with major falls being recorded in Asia, Europe, and the Americas.
London's FTSE 100 fell 129.90 or 2.15% Friday to 5,912.10. The Paris-based CAC 40 at 5,150.45 was down 112.49 or 2.14%. The German DAX fell 138.44 or 2.29% to 5,916.28. The Amsterdam Exchanges index was off 11.79 or 2.53% at 455.09. In Sweden the OMX Stockholm 30 index fell 29.71 or 2.85% to 1,013.69. The Swiss SMI shed 143.17 or 1.77% to 7,954.10.
In Asia Japan's Nikkei 225 ended the day down 260.36 points or 1.54% at 16,601.78. The Hong Kong Hang Seng fell 238.93 or 1.39% at 16,901.85.
Middle East markets, where the week ends on Thursdays, suffered one of their worst weeks ever. Most Mideast currencies are pegged to the dollar which means the value of stock investments held by foreigners has been plummeting in line with the U.S. currency. The Dubai stock market shed 14.35% for the week, while the Abu Dhabi market gave up 10.49%. Market
analysts fear the stock meltdown may feed into the propery sector which is overblown, particularly in Dubai. Emaar, the emirate's largest property developer lost 22.8%, more than a fifth of its value, over the week.
In the U.S. the Dow Jones industrials fell 119.74 or 1.04% to 11,380.99 Friday, while the S&P 500 declined 14.68 or 1.27% to 1,291.24. The Nasdaq Composite shed 28.92 or 1.27% to 2,243.78. In Canada, the Toronto S&P/TSX Composite lost 127.36 or 1.05% to 12,038.07. The Mexican Bolsa index dropped 280.37 or 1.31% to 21,154.90, while the Brazil Bovespa declined 635.10 or 1.55% to 40,211.97.
The dollar hit a new low of 1.2955 against the euro Friday, while the British pound touched 1.8998. The Swiss franc soared to 1.1965, while the Japanese yen traded as high as 109.32. The commodity currencies were litte changed from Thursday's close but in solid demand. The Canadian dollar reached 1.0991 while the Australian dollar firmed to .7782. The New Zealand
dollar reached a modest high of .6325. The dollar was just shy of its lows for the day the close of trading in New York Friday.
The feverish selling this week has come despite a quarter-point increase in the Fed funds rate to 5%, well ahead of European, Swiss,and Japanese interest rates. The Fed demonstrated an increasing concern over the extent of dollar-selling by signalling its regular monthly interest rate increases may not be over. Markets have been selling the dollar on the basis the Fed will
soon pause, just as other countries are planning to begin a round of interest rate increases.
The U.S., and the G7 in an April communique, expressed concern about the value of the dollar against Asian currencies, particularly the yuan, however the brunt of the selling has been borne by the euro and the Swiss franc.
The Japanese yen which had lagged the majors finally caught up this week. The momentum behind the selling has not waned in recent weeks, with some traders saying the dollar-selling is over-extended, and ripe for a correction.
Saturday 13th May, 2006
Equity markets around the world plummeted Friday as the U.S. dollar went into freefall.
The American currency's near collapse followed several weeks of declines, which has seen the dollar lose 7% of its value against the euro, yen, and the pound, in the last month alone. The dollar index (weighted against a number of currencies) has fallen to its lowest level since October 1997. The relentless selling has failed to cause even the shallowest of corrections.
Friday's announcement by the Trade Department of a 5.6% fall in the trade deficit for April, coming in at $62 billion against analysts expectations of $67 billion, failed to arrest the slide.
The dollar rout has unnerved global stock markets with major falls being recorded in Asia, Europe, and the Americas.
London's FTSE 100 fell 129.90 or 2.15% Friday to 5,912.10. The Paris-based CAC 40 at 5,150.45 was down 112.49 or 2.14%. The German DAX fell 138.44 or 2.29% to 5,916.28. The Amsterdam Exchanges index was off 11.79 or 2.53% at 455.09. In Sweden the OMX Stockholm 30 index fell 29.71 or 2.85% to 1,013.69. The Swiss SMI shed 143.17 or 1.77% to 7,954.10.
In Asia Japan's Nikkei 225 ended the day down 260.36 points or 1.54% at 16,601.78. The Hong Kong Hang Seng fell 238.93 or 1.39% at 16,901.85.
Middle East markets, where the week ends on Thursdays, suffered one of their worst weeks ever. Most Mideast currencies are pegged to the dollar which means the value of stock investments held by foreigners has been plummeting in line with the U.S. currency. The Dubai stock market shed 14.35% for the week, while the Abu Dhabi market gave up 10.49%. Market
analysts fear the stock meltdown may feed into the propery sector which is overblown, particularly in Dubai. Emaar, the emirate's largest property developer lost 22.8%, more than a fifth of its value, over the week.
In the U.S. the Dow Jones industrials fell 119.74 or 1.04% to 11,380.99 Friday, while the S&P 500 declined 14.68 or 1.27% to 1,291.24. The Nasdaq Composite shed 28.92 or 1.27% to 2,243.78. In Canada, the Toronto S&P/TSX Composite lost 127.36 or 1.05% to 12,038.07. The Mexican Bolsa index dropped 280.37 or 1.31% to 21,154.90, while the Brazil Bovespa declined 635.10 or 1.55% to 40,211.97.
The dollar hit a new low of 1.2955 against the euro Friday, while the British pound touched 1.8998. The Swiss franc soared to 1.1965, while the Japanese yen traded as high as 109.32. The commodity currencies were litte changed from Thursday's close but in solid demand. The Canadian dollar reached 1.0991 while the Australian dollar firmed to .7782. The New Zealand
dollar reached a modest high of .6325. The dollar was just shy of its lows for the day the close of trading in New York Friday.
The feverish selling this week has come despite a quarter-point increase in the Fed funds rate to 5%, well ahead of European, Swiss,and Japanese interest rates. The Fed demonstrated an increasing concern over the extent of dollar-selling by signalling its regular monthly interest rate increases may not be over. Markets have been selling the dollar on the basis the Fed will
soon pause, just as other countries are planning to begin a round of interest rate increases.
The U.S., and the G7 in an April communique, expressed concern about the value of the dollar against Asian currencies, particularly the yuan, however the brunt of the selling has been borne by the euro and the Swiss franc.
The Japanese yen which had lagged the majors finally caught up this week. The momentum behind the selling has not waned in recent weeks, with some traders saying the dollar-selling is over-extended, and ripe for a correction.
Subscribe to:
Posts (Atom)