DANIEL 7:23-24
23 Thus he said, The fourth beast(THE EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TRADE BLOCKS)
24 And the ten horns out of this kingdom are ten kings that shall arise:(10 NATIONS-10 WORLD REGIONS) and another shall rise after them;(#11 SPAIN) and he shall be diverse from the first, and he shall subdue three kings.(BE HEAD OF 3 KINGS OR NATIONS).
Silent majority backs economic government of Europe
Today OCT 5,11 @ 09:16 By Honor Mahony
The European Commission believes it is backed by a silent majority in favour of its push for further EU integration and potential future role as the economic government of Europe.According to Johannes Laitenberger, head of cabinet to the European Commission president, the commission has more allies in its bid to re-assume control of the eurozone debt crisis - currently managed in a piecemeal fashion by member states - than is apparent at first sight.The first and best ally that we have in all of this is the silent majority who too often is drowned out by a very vocal minority of sceptics and critics but which is much more solid than we care to think, Laitenberger said Tuesday (4 October) at an event organised by the European Policy Centre.I am very confident that there are enough people, enough institutions, enough forces, that can be mobilised. You sense that the tide is turning. Many people who at the beginning of the discussion did not raise their voices are more forceful, more decisive and saying more clearly what needs to be done.Laitenberger's assessment comes just days after European Commission President Jose Manuel Barroso strongly criticised the handling of the eurozone debt crisis by member states, whose foot-dragging eleventh-hour decision making is widely seen as having exascerbated the single currency's woes.
While conceding the seriousness of the eurozone's crisis which has seen three countries bailed out, the German official believes it only serves to underline how important it is to pool decision-making among member states.We are used to having the most vigorous, the most controversial, debates on existential questions at the national level. The moment it comes to the European level, there is a little bit the shiver down the spine and we attempt to see it as a fatal flaw if the process here is a little more complex than at the national level.The strength of the process is that an agreement is then reached, he says, noting that if the intergovernmental method worked then we would not have needed to invent the community method.Expanding on what the commission means by economic governance - a nebulous phrase often defined by the user of the moment - Laitenberger said it implied different levels of work.These include ensuring coherence between the 17 countries in the eurozone and the ten outside it, with frictions already arising about who should be in the room when wide-ranging decisions are being taken.The commission also sees as its task to manage the debate between maintaining stability and responsibility as well as growth and solidarity - this touches on the central debate in northern European states who want more ailing eurozone countries to undertake tough reforms in return for loans.
It is also keen to make use of new tools allowing it more say in correcting macroeconomic imbalances between member states as well as the strengthen rules underpinning the single currency making it easier to punish misbehaving governments.
All of this has to be brought together into an architecture where the different parts really add up to [support] each another,said Laitenberger in reference to the commission's immediate work agenda.
AND YOU DON'T THINK THE EU HAS WORLD DOMINATION ALREADY.TELLING US IN CANADA HOW MANY EMISSIONS WE CAN USE.IN OUR TAR SANDS IN CALGARY.
I VOTED PC A WEEK AGO IN PRE VOTING.NO LIBERALS OR NDP PLEASE OR BLOCS.
EU to put higher pollution price on tar sands
Today OCT 5,11 @ 09:24 By Valentina Pop
The European Commission on Tuesday (4 October) proposed that oil derived from tar sands be given a higher greenhouse-gas emission value, a move slammed as unjustified and discriminatory by Canada, the world's largest producer of this fossil fuel.After more than a year of internal wrangling and amid strong lobbying from the oil industry and the Canadian government, the 27 EU commissioners agreed to qualify tar sands as a quarter more CO2 polluting than crude oil. The draft bill still needs approval of the EU legislature and member states and will require suppliers to reduce transport-fuel carbon emissions.With this measure, we are sending a clear signal to fossil-fuel suppliers. As fossil fuels will be a reality in the foreseeable future, it’s important to give them the right value, EU climate commissioner Connie Hedegaard said after the decision was approved. The Danish politician managed to overcome resistance from her German colleague, in charge of energy policy, who had adopted a more industry-favourable line.But the move is likely to complicate EU-Canadian talks on a free trade agreement that should have been sealed later this year.
Canada's natural resources minister, Joe Oliver, on Tuesday said his government may take the EU to the World Trade Organisation panel.Should the European Union implement unjustified measures that discriminate against the oil sands, we won’t hesitate to defend our interests, he said.They are doing it believing, apparently, that there is no downside, Oliver added. He explained that in Canada's view there is no scientific justification for labelling oil-sands-derived fuel as more polluting than crude oil.We don’t like the potential stigmatisation and we don’t think it is justified.And Europe is discriminating against a type of oil of which it imports very little, whereas crude from Russia and Nigeria is labelled as less polluting, because the bloc is importing more of this than of Canadian tar sands-extracted fuel.
David Plunkett, ambassador-designate of Canada to the EU also said the draft law would unfairly discriminate against Canadian oil.Oil sands crude has similar greenhouse gas emissions to many other crude oils imported by Europe, he said in an emailed statement, adding that in the last 20 years, greenhouse gas emissions per barrel of oil sands were reduced by 29 percent. Plunkett denied, however, that the bill would impact EU-Canada free trade negotiations.Canada's concerned by the domino-effect that this ruling may trigger around the world as other jurisdictions take a lead from the EU, rather than its actual exports to Europe, which are insignificant. Lawmakers in the US may look at the European bill and replicate it, which would deliver a major blow to Canada's oil industry. The US Congress will decide this year whether to allow a planned pipeline carrying crude oil extracted from the tar sands of Alberta to refineries on the US Gulf of Mexico.Green groups applauded the move, however.Tar sands extraction is a very dirty business for the climate, polluting rivers, lacing the air with toxins and turning forests into wasteland. Despite coming under intense pressure from oil lobbyists and Canada, the commission is doing the right thing by wanting to keep tar sands out of Europe to protect the climate, Greenpeace campaigner Franziska Achterberg said in a statement.Members of all political parties in the European Parliament also welcomed the fact that the commission resisted to pressure from the industry and Canada. I hope member states will do the right thing and not cave into delaying tactics in the form of a Canadian compromise which is rumoured to be proposed by some member states,said British Labour MEP Linda McAvan.
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
REVELATION 13:16-18
16 And he(FALSE POPE) causeth all,(WORLD SOCIALISM) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM
WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/
CNBC VIDEOS
http://www.cnbc.com/id/15839263/?tabid=15839796&tabheader=false
HALF HOUR DOW RESULTS THU OCTOBER 06,2011
09:30 AM -2.43
10:00 AM -80.69
10:30 AM +30.27
11:00 AM +15.67
11:30 AM +24.98
12:00 PM +85.67
12:30 PM +94.57
01:00 PM +77.95
01:30 PM +99.33
02:00 PM +110.25
02:30 PM +100.34
03:00 PM +80.70
03:30 PM +120.10
04:00 PM +183.38 11,123.33
S&P 500 1164.99 +20.94
NASDAQ 2506.82 +46.31
GOLD 1,651.60 +10.00
OIL 82.54 +2.86
TSE 300 11,780.10 +322.90
CDNX 1480.19 +66.54
S&P/TSX/60 677.13 +18.27
MORNING,NEWS,STATS
YEAR TO DATE PERFORMANCE
Dow -16 points at 4 minutes of trading today.
Dow -80 points at low today.
Dow +31 points at high today so far.
GOLD opens at $1,644.20.OIL opens at $79.44 today.
AFTERNOON,NEWS,STATS
Dow -80 points at low today so far.
Dow +131 points at high today so far.
WRAPUP,NEWS,STATS
Dow -80 points at low today.
Dow +183 points at high today.
GOLD ALLTIME HIGH $1,902.60 (NOT AT CLOSE)
NATURAL GAS THURSDAYS +97 BILLION CUBIC FEET
Italian rating hit by Moody’s downgrade
Today OCT 5,11 @ 09:18 By Leigh Phillips
In a move that ratchets up the pressure on EU leaders to work faster to resolve the eurozone’s banking and sovereign debt crisis, Moody’s Investors Service on Tuesday (4 October) knocked down Italy’s credit rating by three notches.Substantial further downgrades are still on the cards (Photo: Alessandro Marotta)While Prime Minister Silvio Berlusconi dismissed the downgrade as expected, the move was motivated by concerns that the country was burdened with political and economic uncertainties.The negative outlook reflects ongoing economic and financial risks in Italy and in the euro area, the ratings agency said.The uncertain market environment and the risk of further deterioration in investor sentiment could constrain the country's access to the public debt markets,continued the assessment by the firm.The downgrade, three notches down from Aa2 to A2, also follows on from a similar move by Standard & Poor’s, a rival credit ratings agency, which slashed the ratings on Italian government bonds by one notch to A with a negative outlook on 19 September.The Moody’s assessment also places the country on a negative outlook, which leaves the country at risk for yet further downgrades.The consensus adjustment in the country’s credit rating now appears to put Italy firmly in the category of peripheral eurozone states in danger of losing access to credit and no longer a core country merely infected by contagion from Greece and its fellow bail-out countries.Although the country has a low budget deficit, its debt is now up to €1.9 trillion, or 120 percent of GDP, but, crucially, Italy has long been mired in a low-growth trap.
Fitch, another ratings agency, on Monday slashed its growth estimates for the country for 2012 from one percent down to 0.2 percent and for 2013 from 1.6 percent down to 0.6 percent. The firm warned that austerity and tax hikes were pulling down growth prospects.Implementing a stricter austerity package which includes a one percent VAT rise, a three percent tax on the highest incomes and several government spending cuts will have a negative effect on private consumption and medium-term investment,the agency said in a statement.The Moody’s downgrade also reflected concerns over the government’s ability to push through structural adjustment.Having endorsed a fresh austerity package worth some €54 billion last month, Rome is battling divisions in the governing coalition over the introduction of new measures liberalising the economy that were supposed to have been unveiled by the end of last month and few details have been made public.The prime minister, Silvio Berlusconi, himself is distracted by three different court cases.He immediately dismissed the downgrade, saying that Italy intends to balance its budget by 2013 and that the ratings cut had been in the works since Moody’s said on 17 September it was reviewing the country’s standing with a view to a possible cut.However, in an ominous warning to the country, the agency said that Italy was on track for ratings cuts to substantially lower rating levels.
LAND FOR PEACE (THE FUTURE 7 YEARS OF HELL ON EARTH)
JOEL 3:2
2 I will also gather all nations, and will bring them down into the valley of Jehoshaphat, and will plead with them there for my people and for my heritage Israel, whom they have scattered among the nations, and parted my land.
THE WEEK OF DANIEL 9:27 WE KNOW ITS 7 YRS
Heres the scripture 1 week = 7 yrs Genesis 29:27-29
27 Fulfil her week, and we will give thee this also for the service which thou shalt serve with me yet seven other years.
28 And Jacob did so, and fulfilled her week: and he gave him Rachel his daughter to wife also.
29 And Laban gave to Rachel his daughter Bilhah his handmaid to be her maid.
DANIEL 11:21-23
21 And in his estate shall stand up a vile person, to whom they shall not give the honour of the kingdom: but he shall come in peaceably, and obtain the kingdom by flatteries.
23 And after the league made with him he shall work deceitfully: for he shall come up, and shall become strong with a small people.
24 He shall enter peaceably even upon the fattest places of the province; and he shall do that which his fathers have not done, nor his fathers' fathers; he shall scatter among them the prey, and spoil, and riches: yea, and he shall forecast his devices against the strong holds, even for a time.
DANIEL 9:26-27
26 And after threescore and two weeks(62X7=434 YEARS+7X7=49 YEARS=TOTAL OF 69 WEEKS OR 483 YRS) shall Messiah be cut off, but not for himself: and the people of the prince that shall come shall destroy the city and the sanctuary;(ROMAN LEADERS DESTROYED THE 2ND TEMPLE) and the end thereof shall be with a flood, and unto the end of the war desolations are determined.(THERE HAS TO BE 70 WEEKS OR 490 YRS TO FUFILL THE VISION AND PROPHECY OF DAN 9:24).(THE NEXT VERSE IS THAT 7 YR WEEK OR (70TH FINAL WEEK).
27 And he( THE ROMAN,EU PRESIDENT) shall confirm the covenant with many for one week:(1X7=7 YEARS) and in the midst of the week he shall cause the sacrifice and the oblation to cease,(3 1/2 yrs in TEMPLE SACRIFICES STOPPED) and for the overspreading of abominations he shall make it desolate, even until the consummation, and that determined shall be poured upon the desolate.
JEREMIAH 6:14
14 They have healed also the hurt of the daughter of my people slightly, saying, Peace, peace; when there is no peace.
JEREMIAH 8:11
11 For they have healed the hurt of the daughter of my people slightly, saying, Peace, peace; when there is no peace.
1 THESSALONIANS 5:3
3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.
ISAIAH 28:14-19 (THIS IS THE 7 YR TREATY COVENANT OF DANIEL 9:27)
14 Wherefore hear the word of the LORD, ye scornful men, that rule this people which is in Jerusalem.
15 Because ye have said, We have made a covenant with death, and with hell are we at agreement; when the overflowing scourge shall pass through, it shall not come unto us: for we have made lies our refuge, and under falsehood have we hid ourselves:
16 Therefore thus saith the Lord GOD, Behold, I lay in Zion for a foundation a stone, a tried stone, a precious corner stone, a sure foundation: he that believeth shall not make haste.
17 Judgment also will I lay to the line, and righteousness to the plummet: and the hail shall sweep away the refuge of lies, and the waters shall overflow the hiding place.
18 And your covenant with death shall be disannulled, and your agreement with hell shall not stand; when the overflowing scourge shall pass through, then ye shall be trodden down by it.
19 From the time that it goeth forth it shall take you: for morning by morning shall it pass over, by day and by night: and it shall be a vexation only to understand the report.
http://www.israelnationalnews.com/News/News.aspx/148511#.TozoznLw04o
PA Seeking to Amend Paris Agreement-Accusing Israel of using economic pressure as political blackmail,PA officials are seeking to amend the Paris Agreement on funds. By Gavriel Queenann First Publish: 10/5/2011, 8:17 PM
Officials in Ramallah on Tuesday tacitly admitted their claims the Palestinian Authority would provide a solvent state for residents in its enclaves without US aid or Israeli cooperation were false.With international donors reneging on aid pledges the cash-strapped PA has been unable to pay its salaries and bills, a situation now acute amid repercussions stemming from PA chairman Mahmoud Abbas' insistence on seeking a unilateral declaration of statehood outside the Oslo framework at the United Nations.The freeze of a bloc of $200 million in aid dollars by US lawmakers and commensurate freeze in tax credit transfers by Israel has infuriated the PA who says Israel is resorting to political blackmail and now wants to amend the Paris Agreement which stipulates funding provisions for the PA.President Mahmoud Abbas or the PLO will shortly issue a decree to set up a national committee of experts to review the Paris Agreement and assign another committee to negotiate an amendment to this agreement, Palestinian Economic Expert Nasr Abdul Karim, told Gulf News.The Israelis need to differentiate between political and economic issues, the Paris Agreement is no longer practical for the Palestinians, he stressed.The Paris Agreement, however, operates under the aegis of the Olso Accords, which both Israeli and PA officials have threatened to scrap in recent months amid the growing row over the PA bid at the UN - a direct violation of the Oslo Accords' proscription on unilateral moves by either party.
Additionally, observers note Israeli displeasure with Abbas' antics at the world body - also described as political blackmail and a propaganda stunt by officials in Tel Aviv - makes amending the Paris Agreement highly unlikely.Nor, observers say, does Israel have any incentive to sacrifice a powerful bargaining chip it can use to force PA officials back to the negotiating table.
Abbas Advancing Israeli Plots'-A senior Iranian lawmaker has accused PA chairman Mahmoud Abbas of advancing Israel's plots to curb Intifada and the Arab Spring.By Gavriel Queenann First Publish: 10/5/2011, 9:15 PM
Is Palestinian Authority chairman Mahmoud Abbas a Zionist quisling? Senior Iranian legislator Seyed Mohammad Javad Abtahi said Wednesday the answer was yes when he accused Abbas of advancing Israel's plots to disintigrate the PA and undermine the so-called Arab Spring.The game Abbas has started is a part of Israelis' plots to curb Intifada and undermine the Islamic countries' uprisings and awakening,Abtahi told Iran's semi-official Fars news agency.He rejected Abbas's commitment to a two-state solution, which he said were intended to disintegrate the PA, and said any negotiations or compromise on Palestine was totally unacceptable.Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei on Saturday also rejected a two-state solution to the Mideast conflict, calling instead for a unilateral Palestinian referendum to decide the future of Israel.We neither propose dumping the migrant Jews in the sea nor the UN arbitration, rather our proposal includes a referendum to be participated by all Palestinians,Khamenei said.Today the West is standing on a crossroad and it should either leave its age-old bullying and recognize the rights of the Palestinians or wait for harder blows in the near future,Khameini added.
I'LL GIVE YOU 12,000 (ROCKETS FIRED INTO ISRAEL SINCE 2005)REASONS WHY THE ARABS SHOULD BE CHECKED MORE THOROUGHLY AT AIRPORTS,OR SHOULD I SAY PIECE BY PIECE THE ISRAELIS ARE KILLED BY ARABS.
http://www.israelnationalnews.com/News/News.aspx/148498#.Tozr1nLw04o
High Court: Why Check Arabs More Thoroughly at Airport?-Nation's supreme judges are surprised to learn that Arabs are treated with more suspicion at Ben Gurion Airport.By Gil Ronen First Publish: 10/6/2011, 12:09 AM
The judges of the High Court for Justice repeatedly asked the State's representatives in a hearing Wednesday why Arabs are checked more thoroughly at Ben Gurion Airport than non-Arabs. The State representatives failed to answer the question in a way that satisfied the judges.The State's attorneys told the court that 0.5% of the country's population undergo more stringent checks than others at the airport. Court President Dorit Beinisch was shocked. She asked: Is the population divided into two categories? Are there two kinds of citizens in the security check? In the course of the session, Beinisch agreed to let the State attorneys show her classified material regarding changes made in the security check setup, ex parte. The Court decided to postpone its decision regarding the case.
Attorney Awni Bana, who represented the ultra-leftist Association for Civil Rights in Israel along with Advocate Dan Yakir, said after the session: The court took seriously the central claim we made in the motion, that the subject is not how the more intensive security check in conducted, but the very labeling of an entire populace as dangerous.Bana added that to this day, the Court has never given its approval to policies that discriminate between citizens, because of a security risk that stems from their nationality. The questions that the motion raises place before the Court a question of principle: is the State allowed to attach a high danger label to a group within its citizens, not because of concrete and tangible danger and suspicions regarding all its members, but solely because of the group's national-ethnic origin. We hope the Court does not create a precedent in this case.Yakir added that the invisibility of the security check that the Arab passengers undergo may be less humiliating, but this does not console them. Their very labeling is what is humiliating.
Police, IDF Destroy Jewish Outpost-State carries out demolition at Givat Gal Yosef, near Shilo. MK Ben Ari slams Netanyahu, Barak.By Gil Ronen First Publish: 10/5/2011, 10:59 PM
Forces from the Israel Police and IDF Civil Administration raided the outpost of Givat Gal Yosef, not far from Shilo in the Binyamin region north of Jerusalem, Wednesday evening.Jewish residents were not caught by complete surprise, as large forces had been seen leaving the Shaar Binyamin police station in the direction of Hizme and other junctions in the Binyamin area.These forces were apparently put in place in order to prevent Jewish reinforcements from joining the residents of Givat Gal Yosef and making the demolition more difficult.MK Michael Ben Ari (National Union) reacted to the destruction and said that it is too bad that on the eve of Yom Kippur, Netanyahu and Barak are sowing destruction and creating tension of the ground.The Chairman of the Jewish Home, Minister Daniel Hershkovitz, conducted a joint tour of Beit El and the neighborhood of Givat Assaf Tuesday, together with National Union Chairman MK Yaakov Katz (Ketzaleh).Hershkovitz voiced hope that Givat Assaf would not be razed. The Jewish Home has many red lines as regards remaining in the coalition, he contended.
INVENTION OF THE ATOMIC BOMB.
2 PETER 3:10-11
10 But the day of the Lord will come as a thief in the night; in the which the heavens shall pass away with a great noise, and the elements shall melt with fervent heat, the earth also and the works that are therein shall be burned up.
11 Seeing then that all these things shall be dissolved, what manner of persons ought ye to be in all holy conversation and godliness,
NUCLEAR WEAPONS WILL BE USED.
PSALMS 97:3
3 A fire goeth before him, and burneth up his enemies round about.
PSALMS 75:8
8 For in the hand of the LORD there is a cup, and the wine is red; it is full of mixture; and he poureth out of the same: but the dregs thereof, all the wicked of the earth shall wring them out, and drink them.
REVELATION 14:18-20
18 And another angel came out from the altar, which had power over fire; and cried with a loud cry to him that had the sharp sickle, saying, Thrust in thy sharp sickle, and gather the clusters of the vine of the earth; for her grapes are fully ripe.
19 And the angel thrust in his sickle into the earth, and gathered the vine of the earth, and cast it into the great winepress of the wrath of God.
20 And the winepress was trodden without the city,(JERUSALEM) and blood came out of the winepress, even unto the horse bridles, by the space of a thousand and six hundred furlongs.(200 MILES) (THE SIZE OF ISRAEL)
ISAIAH 66:15-18
15 For, behold, the LORD will come with fire, and with his chariots like a whirlwind, to render his anger with fury, and his rebuke with flames of fire.
16 For by fire and by his sword will the LORD plead with all flesh: and the slain of the LORD shall be many.
17 They that sanctify themselves, and purify themselves in the gardens behind one tree in the midst, eating swine's flesh, and the abomination, and the mouse, shall be consumed together, saith the LORD.
18 For I know their works and their thoughts: it shall come, that I will gather all nations and tongues; and they shall come, and see my glory.
ISAIAH 26:21
21 For, behold, the LORD cometh out of his place to punish the inhabitants of the earth for their iniquity: the earth also shall disclose her blood, and shall no more cover her slain.(WW3,1/2 earths population die).
ISAIAH 13:6-13 KJV
6 Howl ye; for the day of the LORD is at hand; it shall come as a destruction from the Almighty.
7 Therefore shall all hands be faint, and every man's heart shall melt:(FROM FRIGHT)
8 And they shall be afraid: pangs and sorrows shall take hold of them; they shall be in pain as a woman that travaileth: they shall be amazed one at another; their faces shall be as flames.
9 Behold, the day of the LORD cometh, cruel both with wrath and fierce anger, to lay the land desolate: and he shall destroy the sinners thereof out of it.
10 For the stars of heaven and the constellations thereof shall not give their light: the sun shall be darkened in his going forth, and the moon shall not cause her light to shine.
11 And I will punish the world for their evil, and the wicked for their iniquity; and I will cause the arrogancy of the proud to cease, and will lay low the haughtiness of the terrible.
12 I will make a man more precious than fine gold; even a man than the golden wedge of Ophir.
13 Therefore I will shake the heavens, and the earth shall remove out of her place, in the wrath of the LORD of hosts, and in the day of his fierce anger.
ISAIAH 24:17-23 KJV
17 Fear, and the pit, and the snare, are upon thee, O inhabitant of the earth.
18 And it shall come to pass, that he who fleeth from the noise of the fear shall fall into the pit; and he that cometh up out of the midst of the pit shall be taken in the snare: for the windows from on high are open, and the foundations of the earth do shake.
19 The earth is utterly broken down, the earth is clean dissolved, the earth is moved exceedingly.
20 The earth shall reel to and fro like a drunkard, and shall be removed like a cottage; and the transgression thereof shall be heavy upon it; and it shall fall, and not rise again.
21 And it shall come to pass in that day, that the LORD shall punish the host of the high ones that are on high, and the kings of the earth upon the earth.
22 And they shall be gathered together, as prisoners are gathered in the pit, and shall be shut up in the prison, and after many days shall they be visited.
23 Then the moon shall be confounded, and the sun ashamed, when the LORD of hosts shall reign in mount Zion, and in Jerusalem, and before his ancients gloriously.
2 TIMOTHY 3:1
1 This know also, that in the last days perilous (DANGEROUS) times shall come.
JOEL 2:3,30
3 A fire devoureth before them; and behind them a flame burneth: the land is as the garden of Eden before them, and behind them a desolate wilderness; yea, and nothing shall escape them.
30 And I will shew wonders in the heavens and in the earth, blood, and fire, and pillars of smoke.
ZECHARIAH 14:12-13
12 And this shall be the plague wherewith the LORD will smite all the people that have fought against Jerusalem; Their flesh shall consume away while they stand upon their feet, and their eyes shall consume away in their holes, and their tongue shall consume away in their mouth.
13 And it shall come to pass in that day, that a great tumult from the LORD shall be among them; and they shall lay hold every one on the hand of his neighbour, and his hand shall rise up against the hand of his neighbour.(1/2-3 BILLION DIE IN WW3)
EZEKIEL 20:47
47 And say to the forest of the south, Hear the word of the LORD; Thus saith the Lord GOD; Behold, I will kindle a fire in thee, and it shall devour every green tree in thee, and every dry tree: the flaming flame shall not be quenched, and all faces from the south to the north shall be burned therein.
ZEPHANIAH 1:18
18 Neither their silver nor their gold shall be able to deliver them in the day of the LORD'S wrath; but the whole land shall be devoured by the fire of his jealousy: for he shall make even a speedy riddance of all them that dwell in the land.
MALACHI 4:1
1 For, behold, the day cometh, that shall burn as an oven; and all the proud, yea, and all that do wickedly, shall be stubble: and the day that cometh shall burn them up, saith the LORD of hosts, that it shall leave them neither root nor branch.
REVELATION 8:7
7 The first angel sounded, and there followed hail and fire mingled with blood, and they were cast upon the earth: and the third part of trees was burnt up, and all green grass was burnt up.
REVELATION 9:18
18 By these three was the third part of men killed, by the fire, and by the smoke, and by the brimstone, which issued out of their mouths.
HALF OF EARTHS POPULATION DIE DURING THE 7 YR TRIBULATION.(THESE VERSES ARE JUDGEMENT SCRIPTURES NOT RAPTURE SCRIPTURES)
LUKE 17:34-37
34 I tell you, in that night there shall be two men in one bed; the one shall be taken, and the other shall be left.
35 Two women shall be grinding together; the one shall be taken, and the other left.
36 Two men shall be in the field; the one shall be taken, and the other left.
37 And they answered and said unto him, Where, Lord? And he said unto them, Wheresoever the body is, thither will the eagles be gathered together.(Christians have new bodies,this is the people against Jerusalem during the 7 yr treaty)(Christians bodies are not being eaten by the birds).
MATTHEW 24:37-51
37 But as the days of Noe were, so shall also the coming of the Son of man be.
38 For as in the days that were before the flood they were eating and drinking, marrying and giving in marriage, until the day that Noe entered into the ark,
39 And knew not until the flood came, and took them all away; so shall also the coming of the Son of man be.
40 Then shall two be in the field; the one shall be taken, and the other left.
41 Two women shall be grinding at the mill; the one shall be taken, and the other left.
42 Watch therefore: for ye know not what hour your Lord doth come.
43 But know this, that if the goodman of the house had known in what watch the thief would come, he would have watched, and would not have suffered his house to be broken up.
44 Therefore be ye also ready: for in such an hour as ye think not the Son of man cometh.
45 Who then is a faithful and wise servant, whom his lord hath made ruler over his household, to give them meat in due season?
46 Blessed is that servant, whom his lord when he cometh shall find so doing.
47 Verily I say unto you, That he shall make him ruler over all his goods.
48 But and if that evil servant shall say in his heart, My lord delayeth his coming;
49 And shall begin to smite his fellowservants, and to eat and drink with the drunken;
50 The lord of that servant shall come in a day when he looketh not for him, and in an hour that he is not aware of,
51 And shall cut him asunder, and appoint him his portion with the hypocrites: there shall be weeping and gnashing of teeth.
GOD IS GONNA PROTECT ISRAEL WITH THESE NUKES DURING THE 7 YEAR TRIBULATON PERIOD OF DANIEL 9:27 SO THERES NO HOGWASH,PIGS BLOOD HANKY PANKY COMING FROM RUSSIA--MUSLIM NATIONS.OR THE PIGS BLOOD THROWN ON THE MUSLIMS WILL CONTAMINATE THE RUSSIA-MUSLIMS THAT TRY TO DESTROY ISRAEL.FOR ONES WHO DON'T KNOW TOUCHING PIGS BLOOD BY AN ARAB-MUSLIM IS AN ABOMINATION.AND IT POLLUTES THEM.
Erdogan: Israel a Nuclear Threat to Mideast-Turkish prime minister accuses Israel of being a nuclear threat to the Mideast; claims Israeli towns have not been bombarded by Hamas.By Gavriel Queenann First Publish: 10/5/2011, 7:43 PM
Turkish Prime Minister Recep Tayyip Erdogan said Wednesday that Israel is a threat to the Mideast because it possesses nuclear weapons, AFP reports.I right now see Israel as a threat for its region, because it has the atomic bomb, Erdogan said in a foreign policy speech during an official visit to South Africa.He also accused Israel of committing state terrorism.Israel maintains a policy of nuclear ambiguity and has never officially admitted to having a nuclear arsenal. Nor, observers note, if Israel does possess nuclear weapons, did it employ them even in the darkest hours of the 1973 Yom Kippur War.Turkey downgraded relations with one-time ally Israel amid a fit of pique over conclusions of the UN Palmer Report, which concluded Israel's blockade of Gaza is legal and appropriate, with Ankara saying Israel's willingness to express regret for the deaths of Turkish nationals during the 2010 Mavi Marmara incident was insufficient.During the 31 May 2010 incidents Turkish agitators aboard the Mavi Marmara attempted to lynch Israeli naval commandoes who boarded the vessel. When less-than-lethal weapons proved insufficient to stop the threat the commandoes switched to live fire, killing 9.
Last month, Turkey expelled the Israeli ambassador and froze military ties and defense trade deals. Ankara has also threatened to send warships to escort any Turkish vessels trying to reach Hamas-ruled Gaza.I have asked many Israeli officials, how many Israelis, have been killed by rockets launched from Gaza and Palestine. I could not get an answer, Erdogan told his audience.Yet tens of thousands of Palestinians have been killed from bombs that have rained down on them from Israel.You sleep at night peacefully and secure, he said. Yet Palestinians can't find a single trace of peace in Palestine.Statistics for the number of rockets and mortars fired at Israeli communities in southern Israel – as well as injuries and causalities resulting there from – are released monthly to the public via the Internet by Israel's Foreign Ministry, the Shin Bet, and private advocacy groups.
Thursday, October 06, 2011
Wednesday, October 05, 2011
PUTIN UNVEILS COUNTER-EU OPTION FOR POST SOVIET STATES
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S&P Futures, MS CDS, And MS Bonds Tyler Durden's picture Submitted by Tyler Durden on 10/05/2011 08:44 -0400
Via Peter Tchir of TF Market Advisors-ZEROHEDGE
What do MS CDS and S&P Futures have in common? Everything AND Nothing.MS CDS and ES (E-mini S&P Futures) are clearly correlated. As MS CDS tightens, S&P futures rally, and vice versa. That is pretty clear. They are also the two most talked about things all day long lately. That is where the differences become blatantly obvious.
ES trades from 6 pm on Sunday until 4:15 Friday virtually continuously. It is global and the price is constantly known, and you can see the depth of the market at any given time. ES has been trading about 3.1 million contracts a day. Each contract represents an exposure of $56,112.50. That is a notional volume of about $175 billion. Yesterday, ES hit a low of 1068 and a high of 1119, about a 4.5% range. With volumes of $175 billion and huge swings, there must have been massive demand for counterparty protection? As far as I know, CDS on CME does not trade. I’m not sure anyone has ever asked for CME CDS and it isn’t in the DTCC list of top 1000 Reference Entities.Now look at MS CDS? No one even knows how much traded yesterday. No one knows what the volumes were on the way up or on the way down. I am guessing that about 50-100 trades occurred in the entire market yesterday. It is just a guess from a couple of volume numbers I did get. Given the volatility, a bunch of the trades were probably for $5 million instead of the standard $10 million. At the low end of the range, 50 trades at $5 million, volumes would have been $250 million. At the other end it could have been as high as $1 billion. Realistically the number was probably right around $500 million. Yesterday, in one of the busiest days ever, MS stock had volumes of 76 million shares. Assuming the average trade price was 12.50 that is a volume of $950 million. So for all the talk about how illiquid or thinly traded the CDS market is, the volumes are meaningful compared to stock volumes. It would be nice to know the exact numbers, and it would probably be helpful, but that is something the regulators have decided isn’t necessary for functioning markets. Until the regulators get their act together, we will have to just work on best guesses, and yesterday the volumes were probably about 3:1 stocks vs CDS, which I don’t think that is a particularly abnormal ratio.
For all the complaints about how such a low volume market like CDS can push the stocks, it is worth comparing to the bonds. It looks like MS has about $187 billion of debt outstanding. According to TRACE data, there were 201 trades totaling $687 million. Not bad until you examine how TRACE reporting works. The most active bond was the MS 5.5% of 2021, the benchmark 10 year. If a dealer buys from a client, sells to another dealer in the street through an intra-dealer broker, who finds a client to sell to, that counts as 4 trades. So one real trade, where the bond goes from one client to another generates 4 trades, each with a little bit of P&L if all is working correctly for the banks. Since every buy and sell is accounted no matter what, and the interdealer trades add even more, the right volume number is somewhere between 50% and 25% of the stated volume. That gets real volumes to around $300 million as a good estimate. At the lower end of the range of estimated CDS volumes. But at least with the bonds, you could download all the data and filter out the D trades, which are dealer to dealer, and adjust for double counting of B and S trades. Again, why isn’t that available for CDS? TRACE even lets you see what price bonds traded at. If anything, it only confirms that bonds were moving similarly to CDS and that they have similar volumes. Why have regulators been so insistent on making some transparency in the bond markets available but have done nothing to push CDS into the public domain in spite of the obvious impact on individual stocks and bonds, and even broader markets? I don’t know. It cannot be that they believe that CDS shouldn’t be available, and it shouldn’t be because it is too complicated – it isn’t much more complicated than stock or treasury futures, all of which are extremely liquid and transparent.
The other big talking point is that CDS is being driven by investors hedging counterparty risk. That I am willing to believe plays a role in this whole move. I have written repeatedly that the financials and counterparty risk are extremely correlated and can create negative feedback loops. As CDS widens, clients who have bought protection are in the money. If the spread widening that they are profiting from is name specific and non systematic, then they don’t really care much about the counterparty risk since the bank they are facing is fine. They do care when they are profiting from a move wider in financial spreads, and the counterparty that owes them more money by the day is seeing its spread widen as well. That creates the need to hedge the counterparty risk. Either that, or accept collateral from the bank. The collateral idea doesn’t work because most hedge funds aren’t set up to manage collateral, and banks are extremely reluctant to provide collateral to a hedge fund.So we are left with the status quo, that as bank spreads widen, systematic risk fears increase. Investors start talking about the possibility of a daisy chain of defaults. Clients rush to hedge counterparty risk. Traders short banks in expectation that someone will come in to hedge counterparty risk. The banks have fought clearing and exchanges, so it really does serve them right. So greedy to keep the market opaque and keep boutiques away from this revenue stream that they have once again set up the potential for bear runs. After Bear Stearns this should have been fixed, but wasn’t. After Lehman it should have been fixed, but wasn’t. If we make it through this crisis, it likely won’t be fixed. For the safety of the system, and to reduce systematic risk, and to eliminate inane talk of daisy chain counterparty defaults, these trades need to be cleared. It works for stock futures which are more volatile, it should work for CDS. The ironic thing is that the best dealers would figure out how to make money in the new system. It wouldn’t exactly be the same way they make money today, but they would adapt and be successful.I have to admit that I am sick of listening to talk about MS CDS when so much of the conversation addresses issues like volumes, liquidity, transparency, depth, counterparty risk, etc., when all of those issues could be, and should have been, addressed by regulators. The focus should be on whether or not there is value in MS credit at these prices/spreads not whether the prices/spreads are merely an illusion. I suspect that if we had all the same transparency that exists for stocks, MS CDS and bond spreads would be exactly the same as they are now, but at least we could be focused on the real problems and issues at MS.
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
REVELATION 13:16-18
16 And he(FALSE POPE) causeth all,(WORLD SOCIALISM) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM
WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/
CNBC VIDEOS
http://www.cnbc.com/id/15839263/?tabid=15839796&tabheader=false
HALF HOUR DOW RESULTS WED OCTOBER 05,2011
09:30 AM -3.43
10:00 AM -50.31
10:30 AM -12.00
11:00 AM +50.41
11:30 AM +63.65
12:00 PM +53.89
12:30 PM +1.10
01:00 PM +17.41
01:30 PM +40.27
02:00 PM +86.74
02:30 PM +95.25
03:00 PM +86.59
03:30 PM +68.34
04:00 PM +131.24 10,939.95
S&P 500 1144.04 +20.09
NASDAQ 2460.51 +55.83
GOLD 1,640.30 +34.20
OIL 79.64 +4.12
TSE 300 11,457.20 +279.34
CDNX 1413.65 +80.31
S&P/TSX/60 658.86 +16.52
MORNING,NEWS,STATS
YEAR TO DATE PERFORMANCE
Dow -31 points at 4 minutes of trading today.
Dow -52 points at low today.
Dow +7 points at high today so far.
GOLD opens at $1,623.00.OIL opens at $77.55 today.
AFTERNOON,NEWS,STATS
Dow -52 points at low today so far.
Dow +87 points at high today so far.
WRAPUP,NEWS,STATS
Dow -52 points at low today.
Dow +131 points at high today.
GOLD ALLTIME HIGH $1,902.60 (NOT AT CLOSE)
CRUDE OIL -4.68 MILLION BARRELS
GASOLINE -1.1 MILLION BARRELS
DISTILLATE INVENTORIES -744,000 BARRELS
Eurozone chiefs: Greece can wait till November
Today SEPT 5,11 @ 09:28 By Leigh Phillips
Eurozone finance ministers have kicked down a decision on the delivery of Greece’s latest tranche of bail-out cash, saying that the country can wait until November.At the end of a seven-hour meeting in Luxembourg that bled into early Tuesday (4 October), the economy chiefs stressed that they will not let Greece default, but that the country must work further on its structural adjustment and privatisations.
We had no one advocating a default for Greece. Everything will be done to avoid that and it will be avoided,Jean-Claude Juncker, the chair of the eurogroup of states, said after the meeting.The countries that employ the single currency will make a decision on handing over €8 billion in eurozone and IMF cash some time in October, he said, while the Belgian finance minister said that Athens has until mid-November before it runs out of cash.Greece told us that the funds will have to be made available during the second week of November. We reviewed the Greek plan and we will now wait for the final report from the troika since we have time to decide,Belgian finance minister Didier Reynders told reporters.Until now, Greece has maintained that it would begin to be unable to pay its bills around the middle of October.
Juncker also hinted that private sector investors may have to up their expected haircut on the Greek debt they hold, in line with the demands of Germany but opposed by France out of fears for its banks, which are highly exposed to debt from the Hellenic Republic.In July, eurozone leaders backed 21 percent write-downs on Greek bonds as part of a plan cobbled together by the International Institute for Finance, the global association of financial institutions. Berlin however has come round to the notion that Greece is simply unable to pay off the scale of its debts and that a more substantial haircut is necessary to prevent a disorderly default.The ministers for the first time also moved into discussions over a possible massive expansion of the firepower of the European Financial Stability Fund. It is understood that options on the table include leveraging the rescue fund via the European Central Bank in a way that would not require endorsement by the parliaments of all 17 eurozone member states, an arduous process not in keeping with the schedule demanded by markets for crisis response.We need a more flexible and powerful EFSF as a financial firewall to contain contagion,said Rehn, although none of the economy officials at the meeting would offer any further details than what is already the subject of speculation in the media.However, in one major breakthrough, the eurozone chiefs finally managed to resolve the issue of Finland’s demand for collateral from Greece in return for its participation in the bail-out.The ministers found a solution that still allows the country its collateral, but makes the terms so onerous that it is highly unlikely any other eurozone state will go down the same path.Finland must make a payment of €1.4 billion to the permanent eurozone rescue fund to be set up in 2013, the European Stability Mechanism, while other states only need to deliver their sums over the course of five years. Helsinki will also receive a lower interest rate on its loans compared to the other states.
Unrest spreads to military as retired Greek officers storm defence ministry 04.10.11 @ 16:55 By Leigh Phillips
The Greek armed forces now appear to be entering the political and street-level debate in the country over EU- and IMF-imposed austerity, with a group of retired Greek officers storming the defence ministry and the armed forces’ professional organisation issuing a stern warning to the government that the military’s confidence in the intentions of the state regarding their pensions has been shaken.
The Greek military professional association has warned the government its confidence has been shaken (Photo: EUobserver)Hundreds of retired Greek officers furious at EU-IMF-imposed cuts to their pensions invaded the Ministry of Defence on Friday (30 September), breaking doors and dismantling machinery.Amid a wider protest of some 2000 officers, around 300 stormed the building as the crowd shouted down with the Pasok junta - referring to the governing social democratic party.Defence minister Panos Beglitis denounced the officers’ actions as anti-democratic bullying by the state within the state and instructed the prosecutor of the Athens Military Court to conduct a preliminary investigation over whether the group had perpetrated any criminal offences against military institutions.Such bullying and anti-democratic behaviour that goes against the democratic government of the country are an insult that will be immediately repressed,said the minister.The retired military cannot act as a state within a state and they don't have the right to act anti-democratically, he declared.The officers removed doors and the dismantled security equipment that scans for the presence of weapons.After the chief of the general staff came down to speak to the crowd and asked them to leave, the officers abandoned their action at around four o’clock.On Sunday in a measured but pointed open letter to the government, the Association of Support and Cooperation of the State Armed Forces, the professional association of full-time staff, warned that the Greek Armed Forces are monitoring the government’s moves with increased concern and that their confidence in the intentions of the state have been shaken.
The executives of the Greek Armed Forces are monitoring with increased concern the latest developments regarding issues related to their needs after retirement, the letter reads.While condemning the behaviour of those who stormed the building, the association attacked the minister for his threat of repressive violence.After the rally of demobilised personnel of the armed forces - regardless of the conduct not consistent with status of retired men - and the known statements of the minister of national defence regarding the use of repressive violence against them, the confidence of the uniformed personnel of the armed forces has been shaken regarding the intentions of the state to assist them,the letter continues, after the rapid accumulation of subsistence problems, which hinder their undistracted devotion to the execution of their duties' Targeted escalating contempt and exclusion, denial of any dialogue and ultimately the threat of repressive violence is a serious blow to the morale of senior staff. This blow is extremely critical in the present geopolitical developments in our region,the letter continues.The military has every moral and legal basis to defend itself, and it will do so by any legal means, the letter, signed by the president and general secretary of the armed forces association, concludes.The defence ministry invasion comes atop angry protests last week by other elements of the Greek security forces, in this case, sections of the police, who demonstrated outside the European Commission offices and German and French embassies in the capital.The officers, upset at having their pay docked along with other civil servants as part of austerity imposed by international lenders, dropped a massive banner from Mount Lycabettus in Athens and denounced the EU and IMF.Last month, on a visit by Belgitis to Military Hospital 424 in Thessaloniki, employees blockaded the entrance and booed the minister. The cabinet member and his entourage were forced to exit their cars and enter the hospital on foot.
Road of internal conflict open
The incident also comes two weeks after Beglitis issued an ominous warning declaring: The road of internal conflict is open.On 19 September, in an interview with Ta Nea newspaper, the minister said: Recent days define the end of an epoch for Europe and for Greece. If we do not move immediately on orderly and conscious sacrifices, the road of internal conflict is open.Repeated efforts by EUobserver to extract a comment from the Ministry of Defence were unsuccessful.The minister has regularly insisted that the government will not go so far as to deploy the army to maintain order.However, on 4 February this year, according to the Athens News Agency, the Hellenic Army staged a mock battle with anti-austerity protesters. The Defence Ministry would not respond to requests for further detail on the military exercises.Code-named Callimachus after a commander of the Athenian army during the Battle of Marathon, the war games took place at the Koromila base in Argyroupolis, a village near Kilkis in northern Greece.The army’s 71st airborne brigade, which participates in EU peace-keeping operations in an EU battlegroup together with units from Cyprus, Bulgaria and Romania, practiced feuding parties control, conflict deterrence and crowd evacuation, according to the newswire, quoting military sources.
According to Diktio Spartakos, a network of trade-unionist conscripts in the army, a captain recently warned his troops to be on alert in case of the need to intervene against social disorder.Trade unionism by draftees is forbidden in the Greek military, so the group does not operate openly or use their real names or ranks.
State of alert order
On 17 September, in a military camp near Heraklion, the capital of the island of Crete and the country’s fourth biggest city, a Captain S informed his unit of a top secret state of alert order, according to soldiers from the trade-unionist network.
According to the group, Captain S., who was in charge of the unit, informed the guard about the existence of top secret state of alert order and said that all units should be on guard and apply increased security measures.The captain then allegedly went on to say that the order is linked to the announcement of new austerity measures, the laying off of tens of thousands of civil servants and new property taxes that may provoke social disorder for which the army should be ready.While a military junta known as the Regime of the Colonels ruled the country from 1967 to 1973, the Greek armed forces have for more than a generation been normalised under civilian command and few analysts expect the military to autonomously intervene against civil unrest.
Greek crisis close to claiming first victim in EU banking sector Today OCT 5,11 @ 09:37 By Andrew Rettman
Franco-Belgian bank Dexia has said it might restructure its operations in response to a run on shares caused by exposure to bad Greek debt.The Atomium monument in Brussels: The Franco-Belgian bank risks being split into tiny pieces in order to protect high-street savers (Photo: o palsson)The bank in a statement issued after an emergency meeting in the small hours of Tuesday (3 October) said the board has asked the CEO to prepare ... the necessay measures to solve structural problems which hamper its operational activities, citing the size of the portfolio of non-strategic assets [which] structurally weighs down on the group.Options for what would amount to a break-up of the company include getting rid of Dexia Credit Local, a unit which lends money to local authorities in Europe and the US, Dexia Banque Internationale a Luxembourg, its private fund-management branch, and Denizbank, its retail banking business in Turkey.Belgium and France, large shareholders in Dexia, might also create a 'bad bank' on the model of Ireland's Nama, which would take over Dexia's riskiest assets in a bid to protect its core activities.Rating's agency Moody's warned on Monday it is getting ready to downgrade Dexia, an announcement that wiped out 10 percent of the value of its shares in one day atop losses of 30 percent in the past three months. It said Dexia has experienced further tightening in its access to market funding - the day-to-day loans provided by markets which banks need to fund normal activity, like providing cash and loans to high-street savers.The loss of confidence comes due to Dexia's exposure to Greek and Italian debt. If the private sector is forced to write off 50 percent of Greek bonds, Dexia stands to lose around €2 billion, equivalent to 80 percent of its value as a company.
Belgian finance minister Didier Reynders tried to reassure Dexia's high-street customers on Monday. The French and Belgian governments are behind their banks, whether that is Dexia or another. To help banks and to help, for example French and Belgian savers, the first thing to do is to help Greece, he said at a meeting of EU finance ministers in Luxembourg.Dexia is a medium-sized bank by EU standards. But its larger cousins face similar problems. Major French banks BNP Paribas, Societe Generale and Credit Agricole also lost between four percent and five percent of their value this week due to exposure to Greece, on top of 40 percent to 56 percent losses in recent months.All four banks, including Dexia, were given a clean bill of health by EU stress tests in July.Fresh EU statistics on bank lending to small and medium-sized business show how the crisis in high finance is having a direct impact on the ground.Unsuccessful loan applications between 2007 and 2010 rose in 19 out of 20 EU countries for which data is available, the European Commission noted on Monday. Bulgaria is the worst hit, with the proportion of unsuccesful applications climbing from three percent to 36 percent. In Ireland, the numbers went from one percent to 27 percent.
MUSLIM NATIONS
EZEKIEL 38:1-12
1 And the word of the LORD came unto me, saying,
2 Son of man, set thy face against Gog,(RULER) the land of Magog,(RUSSIA) the chief prince of Meshech(MOSCOW)and Tubal,(TOBOLSK) and prophesy against him,
3 And say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech(MOSCOW) and Tubal:
4 And I will turn thee back, and put hooks into thy jaws,(GOD FORCES THE RUSSIA-MUSLIMS TO MARCH) and I will bring thee forth, and all thine army, horses and horsemen, all of them clothed with all sorts of armour, even a great company with bucklers and shields, all of them handling swords:
5 Persia,(IRAN,IRAQ) Ethiopia, and Libya with them; all of them with shield and helmet:
6 Gomer,(GERMANY) and all his bands; the house of Togarmah (TURKEY)of the north quarters, and all his bands:(SUDAN,AFRICA) and many people with thee.
7 Be thou prepared, and prepare for thyself, thou, and all thy company that are assembled unto thee, and be thou a guard unto them.
8 After many days thou shalt be visited: in the latter years thou shalt come into the land that is brought back from the sword, and is gathered out of many people, against the mountains of Israel, which have been always waste: but it is brought forth out of the nations, and they shall dwell safely all of them.
9 Thou shalt ascend and come like a storm, thou shalt be like a cloud to cover the land, thou, and all thy bands, and many people with thee.(RUSSIA-EGYPT AND MUSLIMS)
10 Thus saith the Lord GOD; It shall also come to pass, that at the same time shall things come into thy mind, and thou shalt think an evil thought:
11 And thou shalt say, I will go up to the land of unwalled villages; I will go to them that are at rest, that dwell safely, all of them dwelling without walls, and having neither bars nor gates,
12 To take a spoil, and to take a prey; to turn thine hand upon the desolate places that are now inhabited, and upon the people that are gathered out of the nations, which have gotten cattle and goods, that dwell in the midst of the land.
ISAIAH 17:1
1 The burden of Damascus. Behold, Damascus is taken away from being a city, and it shall be a ruinous heap.
PSALMS 83:3-7
3 They (ARABS,MUSLIMS) have taken crafty counsel against thy people,(ISRAEL) and consulted against thy hidden ones.
4 They have said, Come, and let us cut them off from being a nation; that the name of Israel may be no more in remembrance.
5 For they (MUSLIMS) have consulted together with one consent: they are confederate against thee:(TREATIES)
6 The tabernacles of Edom,(JORDAN) and the Ishmaelites;(ARABS) of Moab, PALESTINIANS,JORDAN) and the Hagarenes;(EGYPT)
7 Gebal,(HEZZBALLOH,LEBANON) and Ammon,(JORDAN) and Amalek;(SYRIA,ARABS,SINAI) the Philistines (PALESTINIANS) with the inhabitants of Tyre;(LEBANON)
DANIEL 11:40-43
40 And at the time of the end shall the king of the south( EGYPT) push at him:(EU DICTATOR IN ISRAEL) and the king of the north (RUSSIA AND MUSLIM HORDES OF EZEK 38+39) shall come against him like a whirlwind, with chariots, and with horsemen, and with many ships; and he shall enter into the countries, and shall overflow and pass over.
41 He shall enter also into the glorious land, and many countries shall be overthrown: but these shall escape out of his hand, even Edom, and Moab, and the chief of the children of Ammon.(JORDAN)
42 He shall stretch forth his hand also upon the countries: and the land of Egypt shall not escape.
43 But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: and the Libyans and the Ethiopians shall be at his steps.
EZEKIEL 39:1-8
1 Therefore, thou son of man, prophesy against Gog,(LEADER OF RUSSIA) and say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech (MOSCOW) and Tubal: (TUBOLSK)
2 And I will turn thee back, and leave but the sixth part of thee, and will cause thee to come up from the north parts,(RUSSIA) and will bring thee upon the mountains of Israel:
3 And I will smite thy bow out of thy left hand, and will cause thine arrows to fall out of thy right hand.
4 Thou shalt fall upon the mountains of Israel, thou, and all thy bands,( ARABS) and the people that is with thee: I will give thee unto the ravenous birds of every sort, and to the beasts of the field to be devoured.
5 Thou shalt fall upon the open field: for I have spoken it, saith the Lord GOD.
6 And I will send a fire on Magog,(NUCLEAR BOMB) and among them that dwell carelessly in the isles: and they shall know that I am the LORD.
7 So will I make my holy name known in the midst of my people Israel; and I will not let them pollute my holy name any more: and the heathen shall know that I am the LORD, the Holy One in Israel.
8 Behold, it is come, and it is done, saith the Lord GOD; this is the day whereof I have spoken.
JOEL 2:3,20,30-31
3 A fire(NUCLEAR BOMB) devoureth before them;(RUSSIA-ARABS) and behind them a flame burneth: the land is as the garden of Eden before them, and behind them a desolate wilderness; yea, and nothing shall escape them.
20 But I will remove far off from you the northern army,(RUSSIA,MUSLIMS) and will drive him into a land barren and desolate, with his face toward the east sea, and his hinder part toward the utmost sea, and his stink shall come up, and his ill savour shall come up, because he hath done great things.(SIBERIAN DESERT)
30 And I will shew wonders in the heavens and in the earth, blood, and fire, and pillars of smoke.(NUCLEAR BOMB)
31 The sun shall be turned into darkness, and the moon into blood, before the great and the terrible day of the LORD come.
Putin unveils counter-EU option for post-Soviet states 04.10.11 @ 16:09 By Andrew Rettman
With EU-Ukraine association talks on the rocks, Russian leader Vladimir Putin has unveiled a new plan to pull former Soviet countries into a Eurasian Union instead.
Putin. Many post-Soviet leaders feel more comfortable on visits in Moscow than in Brussels, in terms of language and protocol (Photo: ec.europa.eu)Putin outlined his ideas in an op-ed in Russian daily Izvestia on Tuesday (4 October). Noting that Russia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan are already pressing ahead with plans to form a Customs Union and a Single Economic Space, he said the bloc will in future become a fully-fledged Eurasian Union with joint economic governance, common institutions and passport-free travel on the EU model.We propose a model of a powerful supranational union capable of becoming one of the poles of the modern world and of playing the role of effectively 'binding' Europe and the dynamic Asia-Pacific region,he said.In a signal to other post-Soviet nations in the region - Armenia, Azerbaijan, Georgia, Moldova, Turkmenistan, Ukraine and Uzbekistan - he added: The Eurasian Union is an open project. We welcome the accession of other partners, notably the [former Soviet] commonwealth countries. This does not mean pushing anyone or rushing them into something. It should be a sovereign decision of the state dictated by its own long-term national interests.Putin noted the plan sounds like an attempt to rebuild the Soviet Union.He said the group of 12 countries have spiritual threads that unite [their] peoples and that the 70-year-long period of Soviet domination in the last century left the inheritance of a joint infrastructure and manufacturing base.But he added:We are not talking about recreating the Soviet Union. It would be naive to try to restore or copy what is already past ... The Eurasian alliance will be based on universal principles of integration, as an integral part of greater Europe, united by common values of freedom, democracy and market laws.Moscow's gambit comes at a sensitive time in EU-Ukraine relations.
The EU is in December planning to finalise a trade and association pact with Ukraine, by far the largest and most populous of its eastern neighbours. The treaty aims to pull Ukraine out of Russia's sphere of influence and put it on a path to EU membership 10 to 20 years down the line.The pact is in jeopardy on two fronts, however. The EU is angry at what it calls Ukrainian President Viktor Yanukovych's persecution of his political rivals. And Ukraine is angry over the EU's refusal to promise future accession in the preamble to the treaty, while at the same time asking it to make pro-EU reforms set to cost tens of billions of euros.The Ukrainian foreign ministry is considering confronting the EU with a make-or-break decision by submitting a formal application for EU membership early next year.But with anti-enlargement countries such as France, Germany and the Netherlands highly unlikely to endorse the move, the confrontation could end in Ukraine turning towards Putin's union instead.It's a dangerous situation. It [an EU refusal] would give pro-Russian elements in Ukraine all the excuse they need to abandon the European project. At the same time, with Putin becoming president [of Russia] again next year, he will be in a powerful position to exert influence on Kiev and other capitals in the region,an EU diplomatic source told EUobserver.Georgia and Moldova are the most pro-EU in the group. But powerful pro-Russian opposition forces exist in both countries, with Georgian President Mikhail Saakashvili's popularity waning after the 2008 Russia-Georgia war and with Moldova facing zero prospect of EU membership so long as more than 1,000 Russian troops remain parked on its territory in the frozen conflict over Transniestria.
http://www.zerohedge.com/news/zero-hedge-appreciates-unpaid-cnbc-marketing
S&P Futures, MS CDS, And MS Bonds Tyler Durden's picture Submitted by Tyler Durden on 10/05/2011 08:44 -0400
Via Peter Tchir of TF Market Advisors-ZEROHEDGE
What do MS CDS and S&P Futures have in common? Everything AND Nothing.MS CDS and ES (E-mini S&P Futures) are clearly correlated. As MS CDS tightens, S&P futures rally, and vice versa. That is pretty clear. They are also the two most talked about things all day long lately. That is where the differences become blatantly obvious.
ES trades from 6 pm on Sunday until 4:15 Friday virtually continuously. It is global and the price is constantly known, and you can see the depth of the market at any given time. ES has been trading about 3.1 million contracts a day. Each contract represents an exposure of $56,112.50. That is a notional volume of about $175 billion. Yesterday, ES hit a low of 1068 and a high of 1119, about a 4.5% range. With volumes of $175 billion and huge swings, there must have been massive demand for counterparty protection? As far as I know, CDS on CME does not trade. I’m not sure anyone has ever asked for CME CDS and it isn’t in the DTCC list of top 1000 Reference Entities.Now look at MS CDS? No one even knows how much traded yesterday. No one knows what the volumes were on the way up or on the way down. I am guessing that about 50-100 trades occurred in the entire market yesterday. It is just a guess from a couple of volume numbers I did get. Given the volatility, a bunch of the trades were probably for $5 million instead of the standard $10 million. At the low end of the range, 50 trades at $5 million, volumes would have been $250 million. At the other end it could have been as high as $1 billion. Realistically the number was probably right around $500 million. Yesterday, in one of the busiest days ever, MS stock had volumes of 76 million shares. Assuming the average trade price was 12.50 that is a volume of $950 million. So for all the talk about how illiquid or thinly traded the CDS market is, the volumes are meaningful compared to stock volumes. It would be nice to know the exact numbers, and it would probably be helpful, but that is something the regulators have decided isn’t necessary for functioning markets. Until the regulators get their act together, we will have to just work on best guesses, and yesterday the volumes were probably about 3:1 stocks vs CDS, which I don’t think that is a particularly abnormal ratio.
For all the complaints about how such a low volume market like CDS can push the stocks, it is worth comparing to the bonds. It looks like MS has about $187 billion of debt outstanding. According to TRACE data, there were 201 trades totaling $687 million. Not bad until you examine how TRACE reporting works. The most active bond was the MS 5.5% of 2021, the benchmark 10 year. If a dealer buys from a client, sells to another dealer in the street through an intra-dealer broker, who finds a client to sell to, that counts as 4 trades. So one real trade, where the bond goes from one client to another generates 4 trades, each with a little bit of P&L if all is working correctly for the banks. Since every buy and sell is accounted no matter what, and the interdealer trades add even more, the right volume number is somewhere between 50% and 25% of the stated volume. That gets real volumes to around $300 million as a good estimate. At the lower end of the range of estimated CDS volumes. But at least with the bonds, you could download all the data and filter out the D trades, which are dealer to dealer, and adjust for double counting of B and S trades. Again, why isn’t that available for CDS? TRACE even lets you see what price bonds traded at. If anything, it only confirms that bonds were moving similarly to CDS and that they have similar volumes. Why have regulators been so insistent on making some transparency in the bond markets available but have done nothing to push CDS into the public domain in spite of the obvious impact on individual stocks and bonds, and even broader markets? I don’t know. It cannot be that they believe that CDS shouldn’t be available, and it shouldn’t be because it is too complicated – it isn’t much more complicated than stock or treasury futures, all of which are extremely liquid and transparent.
The other big talking point is that CDS is being driven by investors hedging counterparty risk. That I am willing to believe plays a role in this whole move. I have written repeatedly that the financials and counterparty risk are extremely correlated and can create negative feedback loops. As CDS widens, clients who have bought protection are in the money. If the spread widening that they are profiting from is name specific and non systematic, then they don’t really care much about the counterparty risk since the bank they are facing is fine. They do care when they are profiting from a move wider in financial spreads, and the counterparty that owes them more money by the day is seeing its spread widen as well. That creates the need to hedge the counterparty risk. Either that, or accept collateral from the bank. The collateral idea doesn’t work because most hedge funds aren’t set up to manage collateral, and banks are extremely reluctant to provide collateral to a hedge fund.So we are left with the status quo, that as bank spreads widen, systematic risk fears increase. Investors start talking about the possibility of a daisy chain of defaults. Clients rush to hedge counterparty risk. Traders short banks in expectation that someone will come in to hedge counterparty risk. The banks have fought clearing and exchanges, so it really does serve them right. So greedy to keep the market opaque and keep boutiques away from this revenue stream that they have once again set up the potential for bear runs. After Bear Stearns this should have been fixed, but wasn’t. After Lehman it should have been fixed, but wasn’t. If we make it through this crisis, it likely won’t be fixed. For the safety of the system, and to reduce systematic risk, and to eliminate inane talk of daisy chain counterparty defaults, these trades need to be cleared. It works for stock futures which are more volatile, it should work for CDS. The ironic thing is that the best dealers would figure out how to make money in the new system. It wouldn’t exactly be the same way they make money today, but they would adapt and be successful.I have to admit that I am sick of listening to talk about MS CDS when so much of the conversation addresses issues like volumes, liquidity, transparency, depth, counterparty risk, etc., when all of those issues could be, and should have been, addressed by regulators. The focus should be on whether or not there is value in MS credit at these prices/spreads not whether the prices/spreads are merely an illusion. I suspect that if we had all the same transparency that exists for stocks, MS CDS and bond spreads would be exactly the same as they are now, but at least we could be focused on the real problems and issues at MS.
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
REVELATION 13:16-18
16 And he(FALSE POPE) causeth all,(WORLD SOCIALISM) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM
WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/
CNBC VIDEOS
http://www.cnbc.com/id/15839263/?tabid=15839796&tabheader=false
HALF HOUR DOW RESULTS WED OCTOBER 05,2011
09:30 AM -3.43
10:00 AM -50.31
10:30 AM -12.00
11:00 AM +50.41
11:30 AM +63.65
12:00 PM +53.89
12:30 PM +1.10
01:00 PM +17.41
01:30 PM +40.27
02:00 PM +86.74
02:30 PM +95.25
03:00 PM +86.59
03:30 PM +68.34
04:00 PM +131.24 10,939.95
S&P 500 1144.04 +20.09
NASDAQ 2460.51 +55.83
GOLD 1,640.30 +34.20
OIL 79.64 +4.12
TSE 300 11,457.20 +279.34
CDNX 1413.65 +80.31
S&P/TSX/60 658.86 +16.52
MORNING,NEWS,STATS
YEAR TO DATE PERFORMANCE
Dow -31 points at 4 minutes of trading today.
Dow -52 points at low today.
Dow +7 points at high today so far.
GOLD opens at $1,623.00.OIL opens at $77.55 today.
AFTERNOON,NEWS,STATS
Dow -52 points at low today so far.
Dow +87 points at high today so far.
WRAPUP,NEWS,STATS
Dow -52 points at low today.
Dow +131 points at high today.
GOLD ALLTIME HIGH $1,902.60 (NOT AT CLOSE)
CRUDE OIL -4.68 MILLION BARRELS
GASOLINE -1.1 MILLION BARRELS
DISTILLATE INVENTORIES -744,000 BARRELS
Eurozone chiefs: Greece can wait till November
Today SEPT 5,11 @ 09:28 By Leigh Phillips
Eurozone finance ministers have kicked down a decision on the delivery of Greece’s latest tranche of bail-out cash, saying that the country can wait until November.At the end of a seven-hour meeting in Luxembourg that bled into early Tuesday (4 October), the economy chiefs stressed that they will not let Greece default, but that the country must work further on its structural adjustment and privatisations.
We had no one advocating a default for Greece. Everything will be done to avoid that and it will be avoided,Jean-Claude Juncker, the chair of the eurogroup of states, said after the meeting.The countries that employ the single currency will make a decision on handing over €8 billion in eurozone and IMF cash some time in October, he said, while the Belgian finance minister said that Athens has until mid-November before it runs out of cash.Greece told us that the funds will have to be made available during the second week of November. We reviewed the Greek plan and we will now wait for the final report from the troika since we have time to decide,Belgian finance minister Didier Reynders told reporters.Until now, Greece has maintained that it would begin to be unable to pay its bills around the middle of October.
Juncker also hinted that private sector investors may have to up their expected haircut on the Greek debt they hold, in line with the demands of Germany but opposed by France out of fears for its banks, which are highly exposed to debt from the Hellenic Republic.In July, eurozone leaders backed 21 percent write-downs on Greek bonds as part of a plan cobbled together by the International Institute for Finance, the global association of financial institutions. Berlin however has come round to the notion that Greece is simply unable to pay off the scale of its debts and that a more substantial haircut is necessary to prevent a disorderly default.The ministers for the first time also moved into discussions over a possible massive expansion of the firepower of the European Financial Stability Fund. It is understood that options on the table include leveraging the rescue fund via the European Central Bank in a way that would not require endorsement by the parliaments of all 17 eurozone member states, an arduous process not in keeping with the schedule demanded by markets for crisis response.We need a more flexible and powerful EFSF as a financial firewall to contain contagion,said Rehn, although none of the economy officials at the meeting would offer any further details than what is already the subject of speculation in the media.However, in one major breakthrough, the eurozone chiefs finally managed to resolve the issue of Finland’s demand for collateral from Greece in return for its participation in the bail-out.The ministers found a solution that still allows the country its collateral, but makes the terms so onerous that it is highly unlikely any other eurozone state will go down the same path.Finland must make a payment of €1.4 billion to the permanent eurozone rescue fund to be set up in 2013, the European Stability Mechanism, while other states only need to deliver their sums over the course of five years. Helsinki will also receive a lower interest rate on its loans compared to the other states.
Unrest spreads to military as retired Greek officers storm defence ministry 04.10.11 @ 16:55 By Leigh Phillips
The Greek armed forces now appear to be entering the political and street-level debate in the country over EU- and IMF-imposed austerity, with a group of retired Greek officers storming the defence ministry and the armed forces’ professional organisation issuing a stern warning to the government that the military’s confidence in the intentions of the state regarding their pensions has been shaken.
The Greek military professional association has warned the government its confidence has been shaken (Photo: EUobserver)Hundreds of retired Greek officers furious at EU-IMF-imposed cuts to their pensions invaded the Ministry of Defence on Friday (30 September), breaking doors and dismantling machinery.Amid a wider protest of some 2000 officers, around 300 stormed the building as the crowd shouted down with the Pasok junta - referring to the governing social democratic party.Defence minister Panos Beglitis denounced the officers’ actions as anti-democratic bullying by the state within the state and instructed the prosecutor of the Athens Military Court to conduct a preliminary investigation over whether the group had perpetrated any criminal offences against military institutions.Such bullying and anti-democratic behaviour that goes against the democratic government of the country are an insult that will be immediately repressed,said the minister.The retired military cannot act as a state within a state and they don't have the right to act anti-democratically, he declared.The officers removed doors and the dismantled security equipment that scans for the presence of weapons.After the chief of the general staff came down to speak to the crowd and asked them to leave, the officers abandoned their action at around four o’clock.On Sunday in a measured but pointed open letter to the government, the Association of Support and Cooperation of the State Armed Forces, the professional association of full-time staff, warned that the Greek Armed Forces are monitoring the government’s moves with increased concern and that their confidence in the intentions of the state have been shaken.
The executives of the Greek Armed Forces are monitoring with increased concern the latest developments regarding issues related to their needs after retirement, the letter reads.While condemning the behaviour of those who stormed the building, the association attacked the minister for his threat of repressive violence.After the rally of demobilised personnel of the armed forces - regardless of the conduct not consistent with status of retired men - and the known statements of the minister of national defence regarding the use of repressive violence against them, the confidence of the uniformed personnel of the armed forces has been shaken regarding the intentions of the state to assist them,the letter continues, after the rapid accumulation of subsistence problems, which hinder their undistracted devotion to the execution of their duties' Targeted escalating contempt and exclusion, denial of any dialogue and ultimately the threat of repressive violence is a serious blow to the morale of senior staff. This blow is extremely critical in the present geopolitical developments in our region,the letter continues.The military has every moral and legal basis to defend itself, and it will do so by any legal means, the letter, signed by the president and general secretary of the armed forces association, concludes.The defence ministry invasion comes atop angry protests last week by other elements of the Greek security forces, in this case, sections of the police, who demonstrated outside the European Commission offices and German and French embassies in the capital.The officers, upset at having their pay docked along with other civil servants as part of austerity imposed by international lenders, dropped a massive banner from Mount Lycabettus in Athens and denounced the EU and IMF.Last month, on a visit by Belgitis to Military Hospital 424 in Thessaloniki, employees blockaded the entrance and booed the minister. The cabinet member and his entourage were forced to exit their cars and enter the hospital on foot.
Road of internal conflict open
The incident also comes two weeks after Beglitis issued an ominous warning declaring: The road of internal conflict is open.On 19 September, in an interview with Ta Nea newspaper, the minister said: Recent days define the end of an epoch for Europe and for Greece. If we do not move immediately on orderly and conscious sacrifices, the road of internal conflict is open.Repeated efforts by EUobserver to extract a comment from the Ministry of Defence were unsuccessful.The minister has regularly insisted that the government will not go so far as to deploy the army to maintain order.However, on 4 February this year, according to the Athens News Agency, the Hellenic Army staged a mock battle with anti-austerity protesters. The Defence Ministry would not respond to requests for further detail on the military exercises.Code-named Callimachus after a commander of the Athenian army during the Battle of Marathon, the war games took place at the Koromila base in Argyroupolis, a village near Kilkis in northern Greece.The army’s 71st airborne brigade, which participates in EU peace-keeping operations in an EU battlegroup together with units from Cyprus, Bulgaria and Romania, practiced feuding parties control, conflict deterrence and crowd evacuation, according to the newswire, quoting military sources.
According to Diktio Spartakos, a network of trade-unionist conscripts in the army, a captain recently warned his troops to be on alert in case of the need to intervene against social disorder.Trade unionism by draftees is forbidden in the Greek military, so the group does not operate openly or use their real names or ranks.
State of alert order
On 17 September, in a military camp near Heraklion, the capital of the island of Crete and the country’s fourth biggest city, a Captain S informed his unit of a top secret state of alert order, according to soldiers from the trade-unionist network.
According to the group, Captain S., who was in charge of the unit, informed the guard about the existence of top secret state of alert order and said that all units should be on guard and apply increased security measures.The captain then allegedly went on to say that the order is linked to the announcement of new austerity measures, the laying off of tens of thousands of civil servants and new property taxes that may provoke social disorder for which the army should be ready.While a military junta known as the Regime of the Colonels ruled the country from 1967 to 1973, the Greek armed forces have for more than a generation been normalised under civilian command and few analysts expect the military to autonomously intervene against civil unrest.
Greek crisis close to claiming first victim in EU banking sector Today OCT 5,11 @ 09:37 By Andrew Rettman
Franco-Belgian bank Dexia has said it might restructure its operations in response to a run on shares caused by exposure to bad Greek debt.The Atomium monument in Brussels: The Franco-Belgian bank risks being split into tiny pieces in order to protect high-street savers (Photo: o palsson)The bank in a statement issued after an emergency meeting in the small hours of Tuesday (3 October) said the board has asked the CEO to prepare ... the necessay measures to solve structural problems which hamper its operational activities, citing the size of the portfolio of non-strategic assets [which] structurally weighs down on the group.Options for what would amount to a break-up of the company include getting rid of Dexia Credit Local, a unit which lends money to local authorities in Europe and the US, Dexia Banque Internationale a Luxembourg, its private fund-management branch, and Denizbank, its retail banking business in Turkey.Belgium and France, large shareholders in Dexia, might also create a 'bad bank' on the model of Ireland's Nama, which would take over Dexia's riskiest assets in a bid to protect its core activities.Rating's agency Moody's warned on Monday it is getting ready to downgrade Dexia, an announcement that wiped out 10 percent of the value of its shares in one day atop losses of 30 percent in the past three months. It said Dexia has experienced further tightening in its access to market funding - the day-to-day loans provided by markets which banks need to fund normal activity, like providing cash and loans to high-street savers.The loss of confidence comes due to Dexia's exposure to Greek and Italian debt. If the private sector is forced to write off 50 percent of Greek bonds, Dexia stands to lose around €2 billion, equivalent to 80 percent of its value as a company.
Belgian finance minister Didier Reynders tried to reassure Dexia's high-street customers on Monday. The French and Belgian governments are behind their banks, whether that is Dexia or another. To help banks and to help, for example French and Belgian savers, the first thing to do is to help Greece, he said at a meeting of EU finance ministers in Luxembourg.Dexia is a medium-sized bank by EU standards. But its larger cousins face similar problems. Major French banks BNP Paribas, Societe Generale and Credit Agricole also lost between four percent and five percent of their value this week due to exposure to Greece, on top of 40 percent to 56 percent losses in recent months.All four banks, including Dexia, were given a clean bill of health by EU stress tests in July.Fresh EU statistics on bank lending to small and medium-sized business show how the crisis in high finance is having a direct impact on the ground.Unsuccessful loan applications between 2007 and 2010 rose in 19 out of 20 EU countries for which data is available, the European Commission noted on Monday. Bulgaria is the worst hit, with the proportion of unsuccesful applications climbing from three percent to 36 percent. In Ireland, the numbers went from one percent to 27 percent.
MUSLIM NATIONS
EZEKIEL 38:1-12
1 And the word of the LORD came unto me, saying,
2 Son of man, set thy face against Gog,(RULER) the land of Magog,(RUSSIA) the chief prince of Meshech(MOSCOW)and Tubal,(TOBOLSK) and prophesy against him,
3 And say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech(MOSCOW) and Tubal:
4 And I will turn thee back, and put hooks into thy jaws,(GOD FORCES THE RUSSIA-MUSLIMS TO MARCH) and I will bring thee forth, and all thine army, horses and horsemen, all of them clothed with all sorts of armour, even a great company with bucklers and shields, all of them handling swords:
5 Persia,(IRAN,IRAQ) Ethiopia, and Libya with them; all of them with shield and helmet:
6 Gomer,(GERMANY) and all his bands; the house of Togarmah (TURKEY)of the north quarters, and all his bands:(SUDAN,AFRICA) and many people with thee.
7 Be thou prepared, and prepare for thyself, thou, and all thy company that are assembled unto thee, and be thou a guard unto them.
8 After many days thou shalt be visited: in the latter years thou shalt come into the land that is brought back from the sword, and is gathered out of many people, against the mountains of Israel, which have been always waste: but it is brought forth out of the nations, and they shall dwell safely all of them.
9 Thou shalt ascend and come like a storm, thou shalt be like a cloud to cover the land, thou, and all thy bands, and many people with thee.(RUSSIA-EGYPT AND MUSLIMS)
10 Thus saith the Lord GOD; It shall also come to pass, that at the same time shall things come into thy mind, and thou shalt think an evil thought:
11 And thou shalt say, I will go up to the land of unwalled villages; I will go to them that are at rest, that dwell safely, all of them dwelling without walls, and having neither bars nor gates,
12 To take a spoil, and to take a prey; to turn thine hand upon the desolate places that are now inhabited, and upon the people that are gathered out of the nations, which have gotten cattle and goods, that dwell in the midst of the land.
ISAIAH 17:1
1 The burden of Damascus. Behold, Damascus is taken away from being a city, and it shall be a ruinous heap.
PSALMS 83:3-7
3 They (ARABS,MUSLIMS) have taken crafty counsel against thy people,(ISRAEL) and consulted against thy hidden ones.
4 They have said, Come, and let us cut them off from being a nation; that the name of Israel may be no more in remembrance.
5 For they (MUSLIMS) have consulted together with one consent: they are confederate against thee:(TREATIES)
6 The tabernacles of Edom,(JORDAN) and the Ishmaelites;(ARABS) of Moab, PALESTINIANS,JORDAN) and the Hagarenes;(EGYPT)
7 Gebal,(HEZZBALLOH,LEBANON) and Ammon,(JORDAN) and Amalek;(SYRIA,ARABS,SINAI) the Philistines (PALESTINIANS) with the inhabitants of Tyre;(LEBANON)
DANIEL 11:40-43
40 And at the time of the end shall the king of the south( EGYPT) push at him:(EU DICTATOR IN ISRAEL) and the king of the north (RUSSIA AND MUSLIM HORDES OF EZEK 38+39) shall come against him like a whirlwind, with chariots, and with horsemen, and with many ships; and he shall enter into the countries, and shall overflow and pass over.
41 He shall enter also into the glorious land, and many countries shall be overthrown: but these shall escape out of his hand, even Edom, and Moab, and the chief of the children of Ammon.(JORDAN)
42 He shall stretch forth his hand also upon the countries: and the land of Egypt shall not escape.
43 But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: and the Libyans and the Ethiopians shall be at his steps.
EZEKIEL 39:1-8
1 Therefore, thou son of man, prophesy against Gog,(LEADER OF RUSSIA) and say, Thus saith the Lord GOD; Behold, I am against thee, O Gog, the chief prince of Meshech (MOSCOW) and Tubal: (TUBOLSK)
2 And I will turn thee back, and leave but the sixth part of thee, and will cause thee to come up from the north parts,(RUSSIA) and will bring thee upon the mountains of Israel:
3 And I will smite thy bow out of thy left hand, and will cause thine arrows to fall out of thy right hand.
4 Thou shalt fall upon the mountains of Israel, thou, and all thy bands,( ARABS) and the people that is with thee: I will give thee unto the ravenous birds of every sort, and to the beasts of the field to be devoured.
5 Thou shalt fall upon the open field: for I have spoken it, saith the Lord GOD.
6 And I will send a fire on Magog,(NUCLEAR BOMB) and among them that dwell carelessly in the isles: and they shall know that I am the LORD.
7 So will I make my holy name known in the midst of my people Israel; and I will not let them pollute my holy name any more: and the heathen shall know that I am the LORD, the Holy One in Israel.
8 Behold, it is come, and it is done, saith the Lord GOD; this is the day whereof I have spoken.
JOEL 2:3,20,30-31
3 A fire(NUCLEAR BOMB) devoureth before them;(RUSSIA-ARABS) and behind them a flame burneth: the land is as the garden of Eden before them, and behind them a desolate wilderness; yea, and nothing shall escape them.
20 But I will remove far off from you the northern army,(RUSSIA,MUSLIMS) and will drive him into a land barren and desolate, with his face toward the east sea, and his hinder part toward the utmost sea, and his stink shall come up, and his ill savour shall come up, because he hath done great things.(SIBERIAN DESERT)
30 And I will shew wonders in the heavens and in the earth, blood, and fire, and pillars of smoke.(NUCLEAR BOMB)
31 The sun shall be turned into darkness, and the moon into blood, before the great and the terrible day of the LORD come.
Putin unveils counter-EU option for post-Soviet states 04.10.11 @ 16:09 By Andrew Rettman
With EU-Ukraine association talks on the rocks, Russian leader Vladimir Putin has unveiled a new plan to pull former Soviet countries into a Eurasian Union instead.
Putin. Many post-Soviet leaders feel more comfortable on visits in Moscow than in Brussels, in terms of language and protocol (Photo: ec.europa.eu)Putin outlined his ideas in an op-ed in Russian daily Izvestia on Tuesday (4 October). Noting that Russia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan are already pressing ahead with plans to form a Customs Union and a Single Economic Space, he said the bloc will in future become a fully-fledged Eurasian Union with joint economic governance, common institutions and passport-free travel on the EU model.We propose a model of a powerful supranational union capable of becoming one of the poles of the modern world and of playing the role of effectively 'binding' Europe and the dynamic Asia-Pacific region,he said.In a signal to other post-Soviet nations in the region - Armenia, Azerbaijan, Georgia, Moldova, Turkmenistan, Ukraine and Uzbekistan - he added: The Eurasian Union is an open project. We welcome the accession of other partners, notably the [former Soviet] commonwealth countries. This does not mean pushing anyone or rushing them into something. It should be a sovereign decision of the state dictated by its own long-term national interests.Putin noted the plan sounds like an attempt to rebuild the Soviet Union.He said the group of 12 countries have spiritual threads that unite [their] peoples and that the 70-year-long period of Soviet domination in the last century left the inheritance of a joint infrastructure and manufacturing base.But he added:We are not talking about recreating the Soviet Union. It would be naive to try to restore or copy what is already past ... The Eurasian alliance will be based on universal principles of integration, as an integral part of greater Europe, united by common values of freedom, democracy and market laws.Moscow's gambit comes at a sensitive time in EU-Ukraine relations.
The EU is in December planning to finalise a trade and association pact with Ukraine, by far the largest and most populous of its eastern neighbours. The treaty aims to pull Ukraine out of Russia's sphere of influence and put it on a path to EU membership 10 to 20 years down the line.The pact is in jeopardy on two fronts, however. The EU is angry at what it calls Ukrainian President Viktor Yanukovych's persecution of his political rivals. And Ukraine is angry over the EU's refusal to promise future accession in the preamble to the treaty, while at the same time asking it to make pro-EU reforms set to cost tens of billions of euros.The Ukrainian foreign ministry is considering confronting the EU with a make-or-break decision by submitting a formal application for EU membership early next year.But with anti-enlargement countries such as France, Germany and the Netherlands highly unlikely to endorse the move, the confrontation could end in Ukraine turning towards Putin's union instead.It's a dangerous situation. It [an EU refusal] would give pro-Russian elements in Ukraine all the excuse they need to abandon the European project. At the same time, with Putin becoming president [of Russia] again next year, he will be in a powerful position to exert influence on Kiev and other capitals in the region,an EU diplomatic source told EUobserver.Georgia and Moldova are the most pro-EU in the group. But powerful pro-Russian opposition forces exist in both countries, with Georgian President Mikhail Saakashvili's popularity waning after the 2008 Russia-Georgia war and with Moldova facing zero prospect of EU membership so long as more than 1,000 Russian troops remain parked on its territory in the frozen conflict over Transniestria.
Tuesday, October 04, 2011
SHVUT RACHEL NEARING FINAL STATE APPROVAL
Democrats and Establishment Unions Plan to Hijack OWS This Week Kurt Nimmo Infowars.com October 3, 2011
Despite the sincerity of most Occupy Wall Street protesters and their desire to close down Wall Street and even the Federal Reserve, the movement is quickly becoming a catch-all for socialists and large unions determined to tax millionaires out of existence.On Sunday, Crain’s wrote that the ragtag collection of no-name protesters will be joined this week by experienced agitators and a coalition of labor and community groups. The United Federation of Teachers, SEIU, Workers United, Transport Workers Union Local 100 and the Communications Workers of America are all expected to exploit Occupy Wall Street this week to push their agenda.In 2009, SEIU thugs beat a Tea Party activist in St. Louis. SEIU president Andy Stern was appointed to Obama’s National Commission on Fiscal Responsibility and Reform.Unions are working to direct the energy of the anti-banker protests into their leftist agenda. The challenge is, how do you transfer protest into power? asked Robert Master, legislative and political director of the Communications Workers of America and a co-chair of the Working Families Party. At the end of the day, you have to figure out a way to take this energy and turn it into legislation that really changes people’s lives.
The Working Families Party is an ACORN front. ACORN enthusiastically supported the election of Obama, although this is supposedly not allowed under its non-profit 501(c)(3) tax status.In addition to establishment unions, self-described progressive community groups and other foundation dependent organizations plan to exploit Occupy Wall Street’s momentum. In addition to Make the Road New York, the Coalition for the Homeless, the Alliance for Quality Education, Community Voices Heard, United New York and Strong Economy For All, Paul Joseph Watson reports today that the Soros funded group MoveOn.org plans to attend the demonstrations.MoveOn.org endorsed Obama in 2008. It fundraised and organized for his campaign and has become perhaps the lead lobby organization for his policies in 2009, apart from Obama’s own Organizing for America, according to SourceWatch. It teamed up with the unions SEIU and AFSCME to pressure Republicans to vote for Obama’s pro-Wall Street policies. It spent $30 million during the 2008 election cycle to get establishment Democrats elected.Most of the so-called community groups listed above support the Millionaire’s Tax, an idea cooked up by the Obama administration after Warren Buffett declared the rich do not pay enough taxes and urged the government to steal more money from millionaires. As I noted yesterday, such taxation schemes invariably trickle down to the middle and working classes and usually result in unemployment as businesses either cut back or close down.After the foundation funded and Democrat supported unions and so-called community groups dilute or takeover the Occupy Wall Street movement, calls for reforming Wall Street and eliminating the Federal Reserve – at present a minority voice in the movement – will be overwhelmed by the same old progressive Democrat agenda.Like the Libertarians behind the original Tea Party movement, the Occupy Wall Street activists who sincerely demand change on Wall Street and in the dominant financial sector will be driven from the movement and replaced by socialist apparatchiks and Democrats funded by Soros and establishment foundations.
Unions and progressives have no intention of reforming Wall Street, as a quick glance at the Obama administration dominated by Goldman Sachs, the CFR, and the Trilateral Commission reveals what the Democrat version of change is all about.Michael Moore admitted that far left socialists and Democrats are working to eliminate capitalism and turn America into another third-world cesspool. Not surprisingly, he said ending the Federal Reserve is irrelevant.Of course he would say that. Moore is a tool of the bankers who will now work tirelessly behind the scenes to dilute the OWS movement and turn it into another irrelevancy and circus sideshow demanding implementation of the same old tired socialist palliatives that only allow the global elite to centralize and consolidate their grip on humanity.
Obama Machine Prepares To Hijack Occupy Wall Street-Backer of Wall Street puppet Obama – MoveOn.org – wants to support the effort Paul Joseph Watson Infowars.com Monday, October 3, 2011
The leftist juggernaut MoveOn.org, a Democratic Party front which vehemently backed Obama’s 2008 election campaign, is set to hijack the Occupy Wall Street protests this week, which is pretty ironic given the fact that the Obama administration is a creature of Wall Street itself.
Paul-Obama
After largely staying out of the protests thus far, MoveOn.org is expected to mobilize its extensive online regional networks to drum up support for the effort, reports Crain’s New York Business.The Obama front organization has supported the demonstrators by way of its website coverage, but this marks the first time that MoveOn will actively engage to organize Occupy Wall Street events which its members will attend.The hypocrisy of MoveOn.org seizing control of a protest movement dubbed Occupy Wall Street is staggering. MoveOn.org endorsed Barack Obama in the 2008 Democratic Party primaries, fundraised and organized for him, and has become perhaps the lead lobby organization for his policies,reports SourceWatch.The organization is also strongly supported by billionaire George Soros, with Soros having donated around $5 million dollars to the group in recent years.So we have a Soros-backed organization which has aggressively lobbied for Obama, whose 2008 campaign was bankrolled by Wall Street (almost $2 million donated by Goldman Sachs and JP Morgan Chase), whose 2012 run is being bankrolled by Wall Street, and whose cabinet is filled with Wall Street operatives, now announcing its involvement in protests against Wall Street.Liberals really need to wake up and smell the coffee on this one.
People with diverse beliefs have thus far taken part in the demonstrations which have now spread across the country, from marxists to End the Fed populists. However, as we documented yesterday, the movement is quickly being consumed by the leftist machine that activated millions of Obamanoids to vote for the ultimate Wall Street puppet back in 2008.
A story which was linked prominently on the Drudge Report yesterday betrays the fact that many of the Occupy Wall Street protesters are actually Obama supporters and advocates of a totalitarian form of statist tyranny – big government communists posing as anarchists and progressives.This is the army that MoveOn.org will attempt to rouse to completely hijack the whole movement and silence the voices who are actively trying to steer the narrative of the protest towards concentrating on the genuine oligarchs of the US financial system.Here at Infowars we are not simply disregarding the Occupy Wall Street protest as a creation of the leftist machine and cynically abandoning the energy that thousands of young people are bringing to the streets.We are pointing out that the usual suspects are hard at work to subvert and divert the impact of the protest by steering it away from the real cause of our economic fallout – the Federal Reserve – an institution which Occupy Wall Street ideologues like Michael Moore have protected by their failure to acknowledge that it represents a far bigger threat than Wall Street.In addition, Alex Jones has announced the campaign to Occupy the Fed, details to follow, in a bid to focus the ‘Occupy Wall Street’ movement on the real enemies of the American people, the Federal Reserve, and not let the protest be manipulated by Democratic Party front groups who are an integral part of the Wall Street establishment.
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
REVELATION 13:16-18
16 And he(FALSE POPE) causeth all,(WORLD SOCIALISM) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM
WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/
CNBC VIDEOS
http://www.cnbc.com/id/15839263/?tabid=15839796&tabheader=false
HALF HOUR DOW RESULTS TUE OCTOBER 04,2011
09:30 AM -3.43
10:00 AM -208.20
10:30 AM -205.16
11:00 AM -112.72
11:30 AM -133.05
12:00 PM -127.41
12:30 PM -118.14
01:00 PM -66.60
01:30 PM -108.82
02:00 PM -118.44
02:30 PM -151.21
03:00 PM -179.33
03:30 PM -102.34
04:00 PM +153.41 10,808.71
S&P 500 1123.95 +24.72
NASDAQ 2404.82 +68.99
GOLD 1,611.70 -46.00
OIL 76.19 -1.42
TSE 300 11,177.90 -73.90
CDNX 1333.34 -56.06
S&P/TSX/60 642.34 -3.23
MORNING,NEWS,STATS
YEAR TO DATE PERFORMANCE
Dow -120 points at 4 minutes of trading today.
Dow -208 points at low today.
Dow -1 points at high today so far.
GOLD opens at $1,655.50.OIL opens at $76.06 today.
AFTERNOON,NEWS,STATS
Dow -208 points at low today so far.
Dow -1 points at high today so far.
WRAPUP,NEWS,STATS
Dow -208 points at low today.
Dow +153 points at high today.
GOLD ALLTIME HIGH $1,902.60 (NOT AT CLOSE)
http://www.infowars.com/occupy-the-federal-reserve-movement-launched/
Rehn: Rescue fund leveraging on the table
03.10.11 @ 17:39 By Leigh Phillips
EU economy commissioner Olli Rehn said on Monday (3 October) that European finance chiefs are considering different options on how to leverage the eurozone’s multi-billion-euro rescue fund to give it further firepower.We are reviewing options on optimising the use of the [European Financial Stability Fund] in order to get more out of it and make it more effective as a financial firewall to contain contagion. Leveraging is one of the options, he said speaking to reporters in Luxembourg.
Finance ministers are meeting in Luxembourg to assess the heavily indebted Greek government’s latest announced efforts to deliver on its promises of austerity and structural adjustment made to international lenders.There are growing fears that were Spain and Italy to be cut off from market funding, the existing €440 billion rescue fund would be insufficient to bail out such large economies and even an expansion of the war-chest to €780 billion agreed by eurozone leaders in July may not be enough.As a result even more radical options, such as the leveraging of the fund were understood to be a topic of discussion, but this is the first time that a senior EU leader has officially mentioned the subject.We will discuss this with the ministers, he said. There are options including the [European Central Bank] and options not including the ECB. This is something we will discuss today.
One possibility is that the EFSF could issue triple-A-rated bonds that could then be placed with the ECB as collateral against loans that could then be distributed to indebted eurozone states.The attraction of this option is that this could be performed without having to return once again to eurozone member countries for further guarantees at a time when citizens and some political forces are growing increasingly resistant to the idea of what appear to them as ever-expanding bail-outs.The commissioner also gave his blessing to the latest round of cuts and structural adjustments announced by the Greek government, despite an acknowledgement that Athens will not be able to meet its deficit reduction targets for this year or next. With an economy in free-fall, government revenues have fallen well below projections.Greece has taken important decisions in the past weeks, also including yesterday, Rehn said.On Sunday, Athens said that it will slash a further €6.6 billion from spending in an attempt to chase after budget shortfalls. The country’s finance minister also offered further details on a plan to put some 30,000 public-sector workers into a so-called labour reserve where wages are to be reduced by 40 percent ahead of presumptive lay-offs within a year.The next day, the government presented the draft budget for 2012 to parliament. MPs are expected to vote on the bill by the end of the month.We are currently assessing whether Greece will meet its fiscal targets with the current measures, he added. Officials from the so-called EU-ECB-IMF troika have returned to the Greek capital to continue their assessment of the government’s austerity efforts.So long as the troika give the all-clear, eurozone finance ministers and the IMF board are expected to rapidly approve the dispersal of the sixth tranche of bail-out cash to the country, a sum amounting to €8 billion.Without the funds, the country will likely run out of money to pay public servants and pensions by the middle of the month.
We're reviewing figures and assessing measures. It seems Greece is likely to miss its target this year. Next year, the concrete measures agreed so far go a long way to meet the fiscal targets. We will assess the measures, he continued.The commissioner also said that ministers would have to confront not one but three major dangers.We have a very important meeting at a critical juncture today. We are facing three main challenges: stalling growth, stressed sovereigns and still vulnerable banks,he said.
Greece will not meet deficit targets this year or in 2012 Today OCT 4,11 @ 09:17 By Leigh Phillips
The Greek finance ministry on Sunday (2 October) conceded that the government will not be able to meet the deficit reduction targets imposed by the European Union and the International Monetary Fund for this year or next.Ancient Greek vase painting of Apollo. The finance ministry has conceded it cannot meet its deficit targets (Photo: Fingalo)The shortfall between spending and revenues will amount to 8.5 percent of GDP in 2011, considerably wider than the 7.6 target set by international lenders.In 2012, the government will be able to reduce the deficit to 6.8 percent of GDP, but this figure still comes short of the 6.5 percent demanded by Brussels and Washington.
The news comes as Athens unveiled further details on its plan to trim the public-sector wage bill by placing 30,000 workers into a so-called labour reserve pool. These workers will see their salaries slashed by 40 percent ahead of a presumed dismissal within a year.Officials from the EU-ECB-IMF troika accepted a plan from finance minister Evangelos Venizelos that the bulk of the workers placed in the scheme be over 60 years old and due to retire within two years, while others will come from a number of state agencies scheduled for merger or shut-down.The troika inspectors have returned to the Greek capital to complete their assessment of the government’s efforts to meet agreed austerity and structural adjustment targets. If the troika gives the all-clear, eurozone finance ministers and the IMF are expected to release the sixth, €8 billiion tranche of bail-out cash to the country.EU finance ministers are to gather in Luxembourg on Monday to discuss the eurozone crisis and specifically consider the Greek situation, but it is not expected that any decision on the release of the latest tranche of cash will be taken at the meeting.Resistance to the austerity measures has widened in recent days, with rolling strikes by transport workers and occupations by staff at seven government ministries. The blockades have made it difficult for the troika inspectors to meet with Greek government officials.Transport minister Yannis Ragoussis’ meeting with the inspectors had to be delayed and held at a secret location, according to Ana, the Greek press agency, where the minister said the government must not make concessions to those that are protesting.
First EU country imposes sanctions on Russian officials Today OCT 4,11 @ 09:21 By Andrew Rettman
The UK has become the first EU country to impose sanctions on Russian officials implicated in the murder of lawyer Sergei Magnitsky, a British daily reports.
Policewoman in Russia. Browder says around 10 EU countries are considering taking action (Photo: Boris SV)Opposition MP Chris Bryant told The Guardian on Saturday (1 October) that UK immigration minister, Damian Green, from the ruling Conservative party, has confirmed they were quietly put on a visa blacklist.From conversations with Damian Green, I took it that these people would not be welcomed. It seems now as if there is a secret ban on these people, he said.America and countries in the EU are moving towards a full, open public ban on these people. If people are not welcome, they should make it clear they are not welcome, not just privately to the individual, but publicly, because it would make it absolutely clear to anybody else that if you are engaged in corruption and criminality in Russia, you are not coming to Britain,he added.The British move follows similar action by the US in August and a freeze on related bank accounts by Switzerland in April.The UK ban means the officials can still enter other EU countries.But Dutch foreign minister Uri Rosenthal has promised parliament he will look into action at EU level in November if a Russian investigation into the case comes up with nothing. The EU's foreign relations service has also said it cannot exclude EU-level steps if the Russian probe is a whitewash.US authorities have compiled a list of 60 Russian men and women said to have embezzled $230 million in Russian tax money and killed Magnitsky in 2009 when he exposed the scam.Reacting to the news, Magnitsky's former employer, UK-based venture capitalist Bill Browder told EUobserver: This [the UK ban] is a very significant development in the whole EU debate about this policy. It seems to me that it will be much harder for the EU to be inactive on EU-wide Magnitsky sanctions now that the US and UK governments have already acted.
Report: Israel, U.S. to Release Prisoners for Grapel-New details on the deal for Ilan Grapel's release: Both Israel and the U.S. will release Egyptian security prisoners.By Elad Benari First Publish: 10/4/2011, 5:43 AM
After Sunday’s report that Egypt is set to release dual U.S.-Israeli citizen Ilan Grapel after nearly four months, another report released on Monday sheds some more light on the deal that was reached to secure his release.According to the Israeli Ma’ariv newspaper, Israel has agreed to release 25 Egyptian security prisoners currently serving sentences in Israeli jails in exchange for Grapel.The report, which is based on comments made by a senior Egyptian television commentator, the United States will also release prisoners. Among the prisoners to be released are also ones classified by Egypt as high profile.The commentator added that the main part of the deal that was reached includes an American agreement to sell advanced weapons to the Egyptian Army, which until now the U.S. has refrained from doing due to Israeli pressure.Grapel, 27, was arrested on charges of being an Israeli spy by Egyptian transitional government authorities. He was accused of spying for Israel, and inciting riots following the toppling of former President Hosni Mubarak in the Tahrir Square Revolution.
Family and friends called the charges absurd, given that he was in Egypt to study Arabic culture, for which he has had long abiding passion. A number of Egyptians considered the charges to be bogus as well.According to Sunday’s report in the official Egyptian MENA news agency, the decision to release Grapel was reversed after the Obama administration agreed to increase its political and financial support to Egypt if he were to be released.Both Sunday and Monday’s reports said Grapel will return to the United States with Secretary of Defense Leon Panetta, who will make an official visit to Cairo starting on Tuesday.
Panetta in Jerusalem: U.S. is Committed to Israel's Security-PM Netanyahu meets with United States Secretary of Defense Leon Panetta in Jerusalem.By Elad Benari First Publish: 10/4/2011, 2:14 AM
Prime Minister Binyamin Netanyahu met on Monday with United States Secretary of Defense Leon Panetta in Jerusalem.Netanyahu thanked Panetta for coming to Jerusalem and told him, You’re coming to the Middle East at a time when it’s undergoing a tremendous convulsion. Probably nothing on this scale happened since the end of World War I, and during this time it’s particularly important to strengthen the security alliance between Israel and the United States.I have to commend you and of course, President Obama, for strengthening that alliance and our cooperation,added Netanyahu. I look forward to discussing with you in this meeting ways to do that. I think that’s important for our security and that’s important for peace.Netanyahu reiterated that peace has to be achieved through direct negotiations between the parties. Yesterday, Israel welcomed the Quartet statement that called for direct negotiation without preconditions.He told Panetta that when he meets Palestinian Authority Chairman Mahmoud Abbas maybe you can tell him, encourage him to enter direct negotiations without preconditions. That’s our hope and I think it should be our common goal.Panetta thanked Netanyahu for the welcome, adding that he looked forward to the ability to discuss some of the difficult challenges that face not only Israel but the United States as well.
Panetta stressed his country’s commitment to Israel’s security.We have been strong allies, we have been strong partners,he said.We have always made a commitment to do everything we can to support the security of Israel and as the Secretary of Defense, I intend to continue that commitment. I think it’s important for us to say to this region that when it comes to the difficult issues we face we stand together to try to confront our difficult and common challenges.Prior to his arrival in Israel, Panetta warned that Israel is becoming increasingly isolated in the Middle East.
Speaking to reporters who were traveling with him, Panetta said Israel must restart negotiations with the Palestinian Authority and work to restore relations with Egypt and Turkey.
Report: Egypt, Qatar Agree to Halt Gas Supplies to Israel-Egypt reportedly made a commitment in Tehran to stop providing natural gas to Israel. So did Qatar and dozens of other countries.By Chana Ya'ar First Publish: 10/4/2011, 3:16 AM
Egypt, which currently provides about 40 percent of Israel's natural gas through its Sinai Peninsula pipeline, has reportedly agreed to halt sales to the Jewish State during a conference in Tehran, according to the Iranian FARS news agency. So has Qatar, which in the past has expressed its willingness to sell gas to Israel if the Egyptian supply were to vanish.If true, gas prices in Israel could skyrocket until the Jewish State secures another source. Due to at least six terrorist attacks and sabotage this year alone, the amount of diesel fuel used to generate electricity rose by 103 percent since January, as compared with the same period a year ago.The delegation from Cairo was among dozens of others at the 5th International Conference on the Palestinian Intifada, where participants announced the agreement to cut the supply of natural gas to Israel from their countries in a final statement issued by the Political Groups and Parties' Commission.The two-day conference was reportedly attended by more than 50 parliamentary delegations, state officials and others from Muslim and non-Muslim nations. Among the countries in attendance were Jordan, Qatar, Egypt, Lebanon, Syria, Iraq, Oman, Afghanistan, Mexico, Hungary, Bolivia, Paraguay, Cuba, and Colombia.
The statement also included support for the Palestinian Intifada and regional uprisings and revolutions, and stressed the need to increase pressure on international courts which shrug off pursuing the crimes of the Zionist regime.In addition, a statement issued by the delegations at the conference called on Muslim countries to impose a strict ban on Israeli goods and activities of all companies and institutions with direct or indirect ties or affiliation with Israel, reported FARS.All Islamic states are required to pay serious attention to this issue and adopt the necessary measures to prevent the import of Israeli commodities, said a statement by the parliamentary commission at the conference.
Report: Shvut Rachel Nearing Final State Approval-The Jewish community of Shvut Rachel is nearing completion of the process to receive clearance for official state status.By Chana Ya'ar First Publish: 10/4/2011, 5:15 AM
The Jewish community of Shvut Rachel, located 30 miles north of Jerusalem, will reportedly receive final state approval.The State told the High Court of Justice in a brief that the 15-year-old community is nearing completion of the process to regulate its zoning status and construction. The brief was filed in response to a March 2011 petition by the leftist Peace Now movement, which pointedly asked the court to order the community destroyed.Peace Now noted the 2005 Sasson Report that designated Shvut Rachel to be an illegal outpost, and said the community was continuing to build, in violation of a state-ordered freeze on construction.The State had ordered the destruction of 29 homes following a freeze on construction in the community issued in late 2010.The petition... mentioned construction performed on State lands which [already] been inspected by a Blue Line team, noted the State brief, the group of Civil Administration inspectors tasked with reviewing land appropriations in Judea and Samaria since 1999.The political echelon now wishes to regulate construction on the premises and has therefore instructed... to promote the [community's] zoning status,said the brief.Since the matter... is pending resolution as evident in the actions taken to regulate [the construction and zoning] the requests brought forward in the petition – in particular the motion to demolish buildings – should not be granted,the brief added.
Peace Now director Yariv Oppenheimer told the Hebrew-language Yediot Acharanot newspaper in response, The Netanyahu government seeks to sanction one of the most isolated outposts in the territories... and it continues to expand the smaller, more isolated outposts.As far as [Prime Minister Binyamin] Netanyahu is concerned, the world, the rule of law and Israel's political interests are null and void when it comes to the settlers' desire to create facts on the ground and ruin any chance for separating from the Palestinians. Netanyahu was and is the settlers' lackey, and they are calling the shots.Shvut Rachel currently numbers 110 families, and is located on Highway 60 in the Shiloh area in the Binyamin region of Samaria, about a 35 minute drive from Jerusalem. The community was founded in memory of Rachela Druk, a resident of Shiloh and mother of seven who together with bus driver Isaac Rofe was killed in November 1991 when terrorists fired on their bus. Shvut Rachel was established by a group of students from the Shiloh Yeshiva in the name of the victims on the night of their funerals.Comprised mostly of young, idealistic Zionists, the oldest children are just now celebrating their Bar and Bat Mitzvahs. The community's single synagogue under the supervision of Rabbi Ben Tzion Amar, the rabbi of Shvut Rachel, alternates between several different prayer styles in order to accommodate everyone's needs.The community is especially known for its sales of organic strawberries to select outlets around the country.
Ashton Vows Aid for PA Amid US Cuts-EU foreign policy chief Catherine Ashton vowed to keep Ramallah on the dole as the US Congress blocks $200 million in aid payments.
By Gavriel Queenann First Publish: 10/3/2011, 6:35 PM
European Union foreign policy chief Catherine Ashton raced to assure Palestinian Authority officials they were still on the EU dole.Ashton informed Abbas that the EU projects to the PA and the Palestinians which are carried out in the Palestinian Territories, won’t be frozen due to the PA Leader move at the UN, the Arabic-language Al-Quds newspaper reported, citing sources close to PA chairman Mahmoud Abbas.Ashton's assurances come on the heels of reports the United States Congress was blocking the transfer of $200 million to cash-strapped officials in Ramallah due to Abbas' statehood gambit at the United Nations.The Congressional freeze for the latest block of US aid dollars - which total an average $600 million per annum - was first reported on Saturday by the UK-daily The Independent.The report remained unconfirmed until Monday, when US Secretary of Defense Leon Panetta criticized the Congressional move during a Tel Aviv press conference with Israeli counterpart Ehud Barak.
The administration opposes holding these funds from the Palestinians, Panetta said, insisting the funds have helped improve Israel's security.This is a critical time and it is not a time to withhold those funds, he said.PA Minister of Planning Ali Jirbawi told the PA-run WAFA news agency that the US Congress's decision to halt US aid to Ramallah has not yet been issued to Palestinian officials, but played down the significance of such a move.The Palestinian Authority is fully ready to embody the reality of a state, Jirbawi said, insisting there was a difference between financial crisis the PA faces and its readiness for statehood.However, Jihad al-Wazir, the PA's top monetary official, warned last month that a cessation of foreign aid from the United States could lead to fiscal ruin and collapse for RamallahThe Arab League on Sunday asked its member states to increase financial help to the Palestinians after the reported US block on the transfer of funds, AFP reported.The Arab League's chief called the bolstering of financial aid necessary for the Palestinians to face this threat.
Despite the sincerity of most Occupy Wall Street protesters and their desire to close down Wall Street and even the Federal Reserve, the movement is quickly becoming a catch-all for socialists and large unions determined to tax millionaires out of existence.On Sunday, Crain’s wrote that the ragtag collection of no-name protesters will be joined this week by experienced agitators and a coalition of labor and community groups. The United Federation of Teachers, SEIU, Workers United, Transport Workers Union Local 100 and the Communications Workers of America are all expected to exploit Occupy Wall Street this week to push their agenda.In 2009, SEIU thugs beat a Tea Party activist in St. Louis. SEIU president Andy Stern was appointed to Obama’s National Commission on Fiscal Responsibility and Reform.Unions are working to direct the energy of the anti-banker protests into their leftist agenda. The challenge is, how do you transfer protest into power? asked Robert Master, legislative and political director of the Communications Workers of America and a co-chair of the Working Families Party. At the end of the day, you have to figure out a way to take this energy and turn it into legislation that really changes people’s lives.
The Working Families Party is an ACORN front. ACORN enthusiastically supported the election of Obama, although this is supposedly not allowed under its non-profit 501(c)(3) tax status.In addition to establishment unions, self-described progressive community groups and other foundation dependent organizations plan to exploit Occupy Wall Street’s momentum. In addition to Make the Road New York, the Coalition for the Homeless, the Alliance for Quality Education, Community Voices Heard, United New York and Strong Economy For All, Paul Joseph Watson reports today that the Soros funded group MoveOn.org plans to attend the demonstrations.MoveOn.org endorsed Obama in 2008. It fundraised and organized for his campaign and has become perhaps the lead lobby organization for his policies in 2009, apart from Obama’s own Organizing for America, according to SourceWatch. It teamed up with the unions SEIU and AFSCME to pressure Republicans to vote for Obama’s pro-Wall Street policies. It spent $30 million during the 2008 election cycle to get establishment Democrats elected.Most of the so-called community groups listed above support the Millionaire’s Tax, an idea cooked up by the Obama administration after Warren Buffett declared the rich do not pay enough taxes and urged the government to steal more money from millionaires. As I noted yesterday, such taxation schemes invariably trickle down to the middle and working classes and usually result in unemployment as businesses either cut back or close down.After the foundation funded and Democrat supported unions and so-called community groups dilute or takeover the Occupy Wall Street movement, calls for reforming Wall Street and eliminating the Federal Reserve – at present a minority voice in the movement – will be overwhelmed by the same old progressive Democrat agenda.Like the Libertarians behind the original Tea Party movement, the Occupy Wall Street activists who sincerely demand change on Wall Street and in the dominant financial sector will be driven from the movement and replaced by socialist apparatchiks and Democrats funded by Soros and establishment foundations.
Unions and progressives have no intention of reforming Wall Street, as a quick glance at the Obama administration dominated by Goldman Sachs, the CFR, and the Trilateral Commission reveals what the Democrat version of change is all about.Michael Moore admitted that far left socialists and Democrats are working to eliminate capitalism and turn America into another third-world cesspool. Not surprisingly, he said ending the Federal Reserve is irrelevant.Of course he would say that. Moore is a tool of the bankers who will now work tirelessly behind the scenes to dilute the OWS movement and turn it into another irrelevancy and circus sideshow demanding implementation of the same old tired socialist palliatives that only allow the global elite to centralize and consolidate their grip on humanity.
Obama Machine Prepares To Hijack Occupy Wall Street-Backer of Wall Street puppet Obama – MoveOn.org – wants to support the effort Paul Joseph Watson Infowars.com Monday, October 3, 2011
The leftist juggernaut MoveOn.org, a Democratic Party front which vehemently backed Obama’s 2008 election campaign, is set to hijack the Occupy Wall Street protests this week, which is pretty ironic given the fact that the Obama administration is a creature of Wall Street itself.
Paul-Obama
After largely staying out of the protests thus far, MoveOn.org is expected to mobilize its extensive online regional networks to drum up support for the effort, reports Crain’s New York Business.The Obama front organization has supported the demonstrators by way of its website coverage, but this marks the first time that MoveOn will actively engage to organize Occupy Wall Street events which its members will attend.The hypocrisy of MoveOn.org seizing control of a protest movement dubbed Occupy Wall Street is staggering. MoveOn.org endorsed Barack Obama in the 2008 Democratic Party primaries, fundraised and organized for him, and has become perhaps the lead lobby organization for his policies,reports SourceWatch.The organization is also strongly supported by billionaire George Soros, with Soros having donated around $5 million dollars to the group in recent years.So we have a Soros-backed organization which has aggressively lobbied for Obama, whose 2008 campaign was bankrolled by Wall Street (almost $2 million donated by Goldman Sachs and JP Morgan Chase), whose 2012 run is being bankrolled by Wall Street, and whose cabinet is filled with Wall Street operatives, now announcing its involvement in protests against Wall Street.Liberals really need to wake up and smell the coffee on this one.
People with diverse beliefs have thus far taken part in the demonstrations which have now spread across the country, from marxists to End the Fed populists. However, as we documented yesterday, the movement is quickly being consumed by the leftist machine that activated millions of Obamanoids to vote for the ultimate Wall Street puppet back in 2008.
A story which was linked prominently on the Drudge Report yesterday betrays the fact that many of the Occupy Wall Street protesters are actually Obama supporters and advocates of a totalitarian form of statist tyranny – big government communists posing as anarchists and progressives.This is the army that MoveOn.org will attempt to rouse to completely hijack the whole movement and silence the voices who are actively trying to steer the narrative of the protest towards concentrating on the genuine oligarchs of the US financial system.Here at Infowars we are not simply disregarding the Occupy Wall Street protest as a creation of the leftist machine and cynically abandoning the energy that thousands of young people are bringing to the streets.We are pointing out that the usual suspects are hard at work to subvert and divert the impact of the protest by steering it away from the real cause of our economic fallout – the Federal Reserve – an institution which Occupy Wall Street ideologues like Michael Moore have protected by their failure to acknowledge that it represents a far bigger threat than Wall Street.In addition, Alex Jones has announced the campaign to Occupy the Fed, details to follow, in a bid to focus the ‘Occupy Wall Street’ movement on the real enemies of the American people, the Federal Reserve, and not let the protest be manipulated by Democratic Party front groups who are an integral part of the Wall Street establishment.
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
REVELATION 13:16-18
16 And he(FALSE POPE) causeth all,(WORLD SOCIALISM) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM
WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/
CNBC VIDEOS
http://www.cnbc.com/id/15839263/?tabid=15839796&tabheader=false
HALF HOUR DOW RESULTS TUE OCTOBER 04,2011
09:30 AM -3.43
10:00 AM -208.20
10:30 AM -205.16
11:00 AM -112.72
11:30 AM -133.05
12:00 PM -127.41
12:30 PM -118.14
01:00 PM -66.60
01:30 PM -108.82
02:00 PM -118.44
02:30 PM -151.21
03:00 PM -179.33
03:30 PM -102.34
04:00 PM +153.41 10,808.71
S&P 500 1123.95 +24.72
NASDAQ 2404.82 +68.99
GOLD 1,611.70 -46.00
OIL 76.19 -1.42
TSE 300 11,177.90 -73.90
CDNX 1333.34 -56.06
S&P/TSX/60 642.34 -3.23
MORNING,NEWS,STATS
YEAR TO DATE PERFORMANCE
Dow -120 points at 4 minutes of trading today.
Dow -208 points at low today.
Dow -1 points at high today so far.
GOLD opens at $1,655.50.OIL opens at $76.06 today.
AFTERNOON,NEWS,STATS
Dow -208 points at low today so far.
Dow -1 points at high today so far.
WRAPUP,NEWS,STATS
Dow -208 points at low today.
Dow +153 points at high today.
GOLD ALLTIME HIGH $1,902.60 (NOT AT CLOSE)
http://www.infowars.com/occupy-the-federal-reserve-movement-launched/
Rehn: Rescue fund leveraging on the table
03.10.11 @ 17:39 By Leigh Phillips
EU economy commissioner Olli Rehn said on Monday (3 October) that European finance chiefs are considering different options on how to leverage the eurozone’s multi-billion-euro rescue fund to give it further firepower.We are reviewing options on optimising the use of the [European Financial Stability Fund] in order to get more out of it and make it more effective as a financial firewall to contain contagion. Leveraging is one of the options, he said speaking to reporters in Luxembourg.
Finance ministers are meeting in Luxembourg to assess the heavily indebted Greek government’s latest announced efforts to deliver on its promises of austerity and structural adjustment made to international lenders.There are growing fears that were Spain and Italy to be cut off from market funding, the existing €440 billion rescue fund would be insufficient to bail out such large economies and even an expansion of the war-chest to €780 billion agreed by eurozone leaders in July may not be enough.As a result even more radical options, such as the leveraging of the fund were understood to be a topic of discussion, but this is the first time that a senior EU leader has officially mentioned the subject.We will discuss this with the ministers, he said. There are options including the [European Central Bank] and options not including the ECB. This is something we will discuss today.
One possibility is that the EFSF could issue triple-A-rated bonds that could then be placed with the ECB as collateral against loans that could then be distributed to indebted eurozone states.The attraction of this option is that this could be performed without having to return once again to eurozone member countries for further guarantees at a time when citizens and some political forces are growing increasingly resistant to the idea of what appear to them as ever-expanding bail-outs.The commissioner also gave his blessing to the latest round of cuts and structural adjustments announced by the Greek government, despite an acknowledgement that Athens will not be able to meet its deficit reduction targets for this year or next. With an economy in free-fall, government revenues have fallen well below projections.Greece has taken important decisions in the past weeks, also including yesterday, Rehn said.On Sunday, Athens said that it will slash a further €6.6 billion from spending in an attempt to chase after budget shortfalls. The country’s finance minister also offered further details on a plan to put some 30,000 public-sector workers into a so-called labour reserve where wages are to be reduced by 40 percent ahead of presumptive lay-offs within a year.The next day, the government presented the draft budget for 2012 to parliament. MPs are expected to vote on the bill by the end of the month.We are currently assessing whether Greece will meet its fiscal targets with the current measures, he added. Officials from the so-called EU-ECB-IMF troika have returned to the Greek capital to continue their assessment of the government’s austerity efforts.So long as the troika give the all-clear, eurozone finance ministers and the IMF board are expected to rapidly approve the dispersal of the sixth tranche of bail-out cash to the country, a sum amounting to €8 billion.Without the funds, the country will likely run out of money to pay public servants and pensions by the middle of the month.
We're reviewing figures and assessing measures. It seems Greece is likely to miss its target this year. Next year, the concrete measures agreed so far go a long way to meet the fiscal targets. We will assess the measures, he continued.The commissioner also said that ministers would have to confront not one but three major dangers.We have a very important meeting at a critical juncture today. We are facing three main challenges: stalling growth, stressed sovereigns and still vulnerable banks,he said.
Greece will not meet deficit targets this year or in 2012 Today OCT 4,11 @ 09:17 By Leigh Phillips
The Greek finance ministry on Sunday (2 October) conceded that the government will not be able to meet the deficit reduction targets imposed by the European Union and the International Monetary Fund for this year or next.Ancient Greek vase painting of Apollo. The finance ministry has conceded it cannot meet its deficit targets (Photo: Fingalo)The shortfall between spending and revenues will amount to 8.5 percent of GDP in 2011, considerably wider than the 7.6 target set by international lenders.In 2012, the government will be able to reduce the deficit to 6.8 percent of GDP, but this figure still comes short of the 6.5 percent demanded by Brussels and Washington.
The news comes as Athens unveiled further details on its plan to trim the public-sector wage bill by placing 30,000 workers into a so-called labour reserve pool. These workers will see their salaries slashed by 40 percent ahead of a presumed dismissal within a year.Officials from the EU-ECB-IMF troika accepted a plan from finance minister Evangelos Venizelos that the bulk of the workers placed in the scheme be over 60 years old and due to retire within two years, while others will come from a number of state agencies scheduled for merger or shut-down.The troika inspectors have returned to the Greek capital to complete their assessment of the government’s efforts to meet agreed austerity and structural adjustment targets. If the troika gives the all-clear, eurozone finance ministers and the IMF are expected to release the sixth, €8 billiion tranche of bail-out cash to the country.EU finance ministers are to gather in Luxembourg on Monday to discuss the eurozone crisis and specifically consider the Greek situation, but it is not expected that any decision on the release of the latest tranche of cash will be taken at the meeting.Resistance to the austerity measures has widened in recent days, with rolling strikes by transport workers and occupations by staff at seven government ministries. The blockades have made it difficult for the troika inspectors to meet with Greek government officials.Transport minister Yannis Ragoussis’ meeting with the inspectors had to be delayed and held at a secret location, according to Ana, the Greek press agency, where the minister said the government must not make concessions to those that are protesting.
First EU country imposes sanctions on Russian officials Today OCT 4,11 @ 09:21 By Andrew Rettman
The UK has become the first EU country to impose sanctions on Russian officials implicated in the murder of lawyer Sergei Magnitsky, a British daily reports.
Policewoman in Russia. Browder says around 10 EU countries are considering taking action (Photo: Boris SV)Opposition MP Chris Bryant told The Guardian on Saturday (1 October) that UK immigration minister, Damian Green, from the ruling Conservative party, has confirmed they were quietly put on a visa blacklist.From conversations with Damian Green, I took it that these people would not be welcomed. It seems now as if there is a secret ban on these people, he said.America and countries in the EU are moving towards a full, open public ban on these people. If people are not welcome, they should make it clear they are not welcome, not just privately to the individual, but publicly, because it would make it absolutely clear to anybody else that if you are engaged in corruption and criminality in Russia, you are not coming to Britain,he added.The British move follows similar action by the US in August and a freeze on related bank accounts by Switzerland in April.The UK ban means the officials can still enter other EU countries.But Dutch foreign minister Uri Rosenthal has promised parliament he will look into action at EU level in November if a Russian investigation into the case comes up with nothing. The EU's foreign relations service has also said it cannot exclude EU-level steps if the Russian probe is a whitewash.US authorities have compiled a list of 60 Russian men and women said to have embezzled $230 million in Russian tax money and killed Magnitsky in 2009 when he exposed the scam.Reacting to the news, Magnitsky's former employer, UK-based venture capitalist Bill Browder told EUobserver: This [the UK ban] is a very significant development in the whole EU debate about this policy. It seems to me that it will be much harder for the EU to be inactive on EU-wide Magnitsky sanctions now that the US and UK governments have already acted.
Report: Israel, U.S. to Release Prisoners for Grapel-New details on the deal for Ilan Grapel's release: Both Israel and the U.S. will release Egyptian security prisoners.By Elad Benari First Publish: 10/4/2011, 5:43 AM
After Sunday’s report that Egypt is set to release dual U.S.-Israeli citizen Ilan Grapel after nearly four months, another report released on Monday sheds some more light on the deal that was reached to secure his release.According to the Israeli Ma’ariv newspaper, Israel has agreed to release 25 Egyptian security prisoners currently serving sentences in Israeli jails in exchange for Grapel.The report, which is based on comments made by a senior Egyptian television commentator, the United States will also release prisoners. Among the prisoners to be released are also ones classified by Egypt as high profile.The commentator added that the main part of the deal that was reached includes an American agreement to sell advanced weapons to the Egyptian Army, which until now the U.S. has refrained from doing due to Israeli pressure.Grapel, 27, was arrested on charges of being an Israeli spy by Egyptian transitional government authorities. He was accused of spying for Israel, and inciting riots following the toppling of former President Hosni Mubarak in the Tahrir Square Revolution.
Family and friends called the charges absurd, given that he was in Egypt to study Arabic culture, for which he has had long abiding passion. A number of Egyptians considered the charges to be bogus as well.According to Sunday’s report in the official Egyptian MENA news agency, the decision to release Grapel was reversed after the Obama administration agreed to increase its political and financial support to Egypt if he were to be released.Both Sunday and Monday’s reports said Grapel will return to the United States with Secretary of Defense Leon Panetta, who will make an official visit to Cairo starting on Tuesday.
Panetta in Jerusalem: U.S. is Committed to Israel's Security-PM Netanyahu meets with United States Secretary of Defense Leon Panetta in Jerusalem.By Elad Benari First Publish: 10/4/2011, 2:14 AM
Prime Minister Binyamin Netanyahu met on Monday with United States Secretary of Defense Leon Panetta in Jerusalem.Netanyahu thanked Panetta for coming to Jerusalem and told him, You’re coming to the Middle East at a time when it’s undergoing a tremendous convulsion. Probably nothing on this scale happened since the end of World War I, and during this time it’s particularly important to strengthen the security alliance between Israel and the United States.I have to commend you and of course, President Obama, for strengthening that alliance and our cooperation,added Netanyahu. I look forward to discussing with you in this meeting ways to do that. I think that’s important for our security and that’s important for peace.Netanyahu reiterated that peace has to be achieved through direct negotiations between the parties. Yesterday, Israel welcomed the Quartet statement that called for direct negotiation without preconditions.He told Panetta that when he meets Palestinian Authority Chairman Mahmoud Abbas maybe you can tell him, encourage him to enter direct negotiations without preconditions. That’s our hope and I think it should be our common goal.Panetta thanked Netanyahu for the welcome, adding that he looked forward to the ability to discuss some of the difficult challenges that face not only Israel but the United States as well.
Panetta stressed his country’s commitment to Israel’s security.We have been strong allies, we have been strong partners,he said.We have always made a commitment to do everything we can to support the security of Israel and as the Secretary of Defense, I intend to continue that commitment. I think it’s important for us to say to this region that when it comes to the difficult issues we face we stand together to try to confront our difficult and common challenges.Prior to his arrival in Israel, Panetta warned that Israel is becoming increasingly isolated in the Middle East.
Speaking to reporters who were traveling with him, Panetta said Israel must restart negotiations with the Palestinian Authority and work to restore relations with Egypt and Turkey.
Report: Egypt, Qatar Agree to Halt Gas Supplies to Israel-Egypt reportedly made a commitment in Tehran to stop providing natural gas to Israel. So did Qatar and dozens of other countries.By Chana Ya'ar First Publish: 10/4/2011, 3:16 AM
Egypt, which currently provides about 40 percent of Israel's natural gas through its Sinai Peninsula pipeline, has reportedly agreed to halt sales to the Jewish State during a conference in Tehran, according to the Iranian FARS news agency. So has Qatar, which in the past has expressed its willingness to sell gas to Israel if the Egyptian supply were to vanish.If true, gas prices in Israel could skyrocket until the Jewish State secures another source. Due to at least six terrorist attacks and sabotage this year alone, the amount of diesel fuel used to generate electricity rose by 103 percent since January, as compared with the same period a year ago.The delegation from Cairo was among dozens of others at the 5th International Conference on the Palestinian Intifada, where participants announced the agreement to cut the supply of natural gas to Israel from their countries in a final statement issued by the Political Groups and Parties' Commission.The two-day conference was reportedly attended by more than 50 parliamentary delegations, state officials and others from Muslim and non-Muslim nations. Among the countries in attendance were Jordan, Qatar, Egypt, Lebanon, Syria, Iraq, Oman, Afghanistan, Mexico, Hungary, Bolivia, Paraguay, Cuba, and Colombia.
The statement also included support for the Palestinian Intifada and regional uprisings and revolutions, and stressed the need to increase pressure on international courts which shrug off pursuing the crimes of the Zionist regime.In addition, a statement issued by the delegations at the conference called on Muslim countries to impose a strict ban on Israeli goods and activities of all companies and institutions with direct or indirect ties or affiliation with Israel, reported FARS.All Islamic states are required to pay serious attention to this issue and adopt the necessary measures to prevent the import of Israeli commodities, said a statement by the parliamentary commission at the conference.
Report: Shvut Rachel Nearing Final State Approval-The Jewish community of Shvut Rachel is nearing completion of the process to receive clearance for official state status.By Chana Ya'ar First Publish: 10/4/2011, 5:15 AM
The Jewish community of Shvut Rachel, located 30 miles north of Jerusalem, will reportedly receive final state approval.The State told the High Court of Justice in a brief that the 15-year-old community is nearing completion of the process to regulate its zoning status and construction. The brief was filed in response to a March 2011 petition by the leftist Peace Now movement, which pointedly asked the court to order the community destroyed.Peace Now noted the 2005 Sasson Report that designated Shvut Rachel to be an illegal outpost, and said the community was continuing to build, in violation of a state-ordered freeze on construction.The State had ordered the destruction of 29 homes following a freeze on construction in the community issued in late 2010.The petition... mentioned construction performed on State lands which [already] been inspected by a Blue Line team, noted the State brief, the group of Civil Administration inspectors tasked with reviewing land appropriations in Judea and Samaria since 1999.The political echelon now wishes to regulate construction on the premises and has therefore instructed... to promote the [community's] zoning status,said the brief.Since the matter... is pending resolution as evident in the actions taken to regulate [the construction and zoning] the requests brought forward in the petition – in particular the motion to demolish buildings – should not be granted,the brief added.
Peace Now director Yariv Oppenheimer told the Hebrew-language Yediot Acharanot newspaper in response, The Netanyahu government seeks to sanction one of the most isolated outposts in the territories... and it continues to expand the smaller, more isolated outposts.As far as [Prime Minister Binyamin] Netanyahu is concerned, the world, the rule of law and Israel's political interests are null and void when it comes to the settlers' desire to create facts on the ground and ruin any chance for separating from the Palestinians. Netanyahu was and is the settlers' lackey, and they are calling the shots.Shvut Rachel currently numbers 110 families, and is located on Highway 60 in the Shiloh area in the Binyamin region of Samaria, about a 35 minute drive from Jerusalem. The community was founded in memory of Rachela Druk, a resident of Shiloh and mother of seven who together with bus driver Isaac Rofe was killed in November 1991 when terrorists fired on their bus. Shvut Rachel was established by a group of students from the Shiloh Yeshiva in the name of the victims on the night of their funerals.Comprised mostly of young, idealistic Zionists, the oldest children are just now celebrating their Bar and Bat Mitzvahs. The community's single synagogue under the supervision of Rabbi Ben Tzion Amar, the rabbi of Shvut Rachel, alternates between several different prayer styles in order to accommodate everyone's needs.The community is especially known for its sales of organic strawberries to select outlets around the country.
Ashton Vows Aid for PA Amid US Cuts-EU foreign policy chief Catherine Ashton vowed to keep Ramallah on the dole as the US Congress blocks $200 million in aid payments.
By Gavriel Queenann First Publish: 10/3/2011, 6:35 PM
European Union foreign policy chief Catherine Ashton raced to assure Palestinian Authority officials they were still on the EU dole.Ashton informed Abbas that the EU projects to the PA and the Palestinians which are carried out in the Palestinian Territories, won’t be frozen due to the PA Leader move at the UN, the Arabic-language Al-Quds newspaper reported, citing sources close to PA chairman Mahmoud Abbas.Ashton's assurances come on the heels of reports the United States Congress was blocking the transfer of $200 million to cash-strapped officials in Ramallah due to Abbas' statehood gambit at the United Nations.The Congressional freeze for the latest block of US aid dollars - which total an average $600 million per annum - was first reported on Saturday by the UK-daily The Independent.The report remained unconfirmed until Monday, when US Secretary of Defense Leon Panetta criticized the Congressional move during a Tel Aviv press conference with Israeli counterpart Ehud Barak.
The administration opposes holding these funds from the Palestinians, Panetta said, insisting the funds have helped improve Israel's security.This is a critical time and it is not a time to withhold those funds, he said.PA Minister of Planning Ali Jirbawi told the PA-run WAFA news agency that the US Congress's decision to halt US aid to Ramallah has not yet been issued to Palestinian officials, but played down the significance of such a move.The Palestinian Authority is fully ready to embody the reality of a state, Jirbawi said, insisting there was a difference between financial crisis the PA faces and its readiness for statehood.However, Jihad al-Wazir, the PA's top monetary official, warned last month that a cessation of foreign aid from the United States could lead to fiscal ruin and collapse for RamallahThe Arab League on Sunday asked its member states to increase financial help to the Palestinians after the reported US block on the transfer of funds, AFP reported.The Arab League's chief called the bolstering of financial aid necessary for the Palestinians to face this threat.
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