THRIVING THURSDAY

Israel's president praises Saudi king By EDITH M. LEDERER, Associated Press Writer – Wed Nov 12, 7:44 pm ET

UNITED NATIONS – Israel's president had rare praise for Saudi Arabia's king at a U.N. interfaith conference Wednesday, saying King Abdullah's initiative to end the Arab-Israeli conflict inspired hope that all countries in the Middle East could live in peace.Speaking to hundreds of guests in the General Assembly chamber, where Israel has often been villified by its Arab neighbors, Shimon Peres appealed to Abdullah to maintain his leadership in the Arab world during the difficult peace process.Minutes earlier, Abdullah said it was high time the world learned the harsh lesson of history — that differences between followers of different religions and cultures engendered intolerance, causing devastating wars and considerable bloodshed without any sound logical or ideological justification.The Saudi monarch, who initiated the two-day U.N. conference as well as another interfaith meeting in July in Madrid, called for all peoples and nations to promote peace, harmony and tolerance, saying terrorism and criminality are the enemies of every religion and every civilization.When Peres took the floor, he told delegates that building a new future in the Middle East seems more feasible today in light of the Saudi proposal which evolved into an Arab peace initiative. The 2002 Saudi plan calls for Arab recognition of the Jewish state in exchange for a full Israeli withdrawal from all lands captured in the 1967 Mideast war.

Then, looking directly at Abdullah, the Israeli president interrupted his prepared speech.Your Majesty, the king of Saudi Arabia, Peres said. I was listening to your message. I wish that your voice will become the prevailing voice of the whole region, of all people. It's right. It's needed. It's promising.Later, Peres told reporters the king's initiative created a U-turn in the policies of the Middle East, because until quite recently the formal Arab position was ... based on three Nos ... no recognition, no negotiation, no peace with Israel.Peres called the Saudi leader a voice of frankness and understanding.There is a real change, basically positive. I don't deny there are open and difficult questions, but if there is a will — as the Arabs are saying — there is a way. What was today demonstrated was the will. We know that we have to work for the way, Peres said.Both Peres and Abdullah attended a private dinner Tuesday night for leaders attending the conference, but the Israeli president would not say whether they had any personal contact — or whether he talked with other Arab leaders.The Saudi king did not directly mention Mideast peace efforts, and he made no mention of criticism from Human Rights Watch and others about Saudi Arabia refusing to allow the public practice of any religion other than Islam.Terrorism and criminality are the enemies of every religion and every civilization, he said, adding that they have appeared because of the absence of tolerance. Abdullah said constructive dialogue among peoples and nations can revive these lofty ideals.U.N. Secretary-General Ban Ki-moon warned the conference that globalization has increased communal strife, extremist ideologies and the polarization of societies.Anti-Semitism remains a scourge, he said. Islamaphobia has emerged as a new term for an old and terrible form of prejudice. And other kinds of racism and discrimination show a dismaying persistence.One of the great challenges of our time must now surely be to ensure that our rich cultural diversity makes us more secure — not less, Ban said.That challenge was echoed by other speakers at the conference which continues Thursday with speeches by President Bush and British Prime Minister Gordon Brown.Jordan's King Abdullah II warned that extremists — Muslim, Christian and Jewish — are thriving on the doubts and divisions stemming from the Israeli-Palestinian conflict. I can think of no more effective way to ease East-West and inter-faith tensions than to end the Israeli-Palestinian conflict with a peace based on justice, respect for international law and the right of all people to live in dignity, he said.

Simulation Shows What Would Happen If Magnitude 7.8 Earthquake Hit California
ScienceDaily (Nov. 13, 2008) — What would happen in California was hit by the Big One? New 3-D animations of a magnitude 7.8 earthquake scenario are now available to the public.

Fourteen animations can be downloaded from the site in high definition format. The 3-D animations show, from the perspective of a several different Southern California locations, how intensely the ground would shake and shift during a very strong 7.8 earthquake with an epicenter on the southern end of the San Andreas Fault.The science-based earthquake scenario, developed by USGS scientists and partners, is used for both the Great Southern California ShakeOut drill on November 13 and the statewide Golden Guardian 2008 emergency response exercise from November 13 - 18.

The ShakeOut earthquake scenario animations provide a graphic tool for first responders, engineers, decision makers, Southern California residents and other members of the public to understand, visualize and prepare for the devastating effects, even far from the epicenter, of a large, damaging earthquake. The San Andreas Fault has produced earthquakes of this magnitude in the past and could again in the future.The USGS is also making available new broadcast-quality background interviews and footage of the San Andreas Fault-crossing Cajon Pass, a narrow corridor through the San Gabriel Mountains known as an important lifeline corridor where roads, railroads, water and energy pipelines, and electrical and communications infrastructure provide service to millions of residences, businesses, commuters and communities in Southern California. In the ShakeOut earthquake scenario, this narrow corridor would be greatly affected, as the 3-D animations also show. The Great Southern California ShakeOut: An Earthquake Scenario Based On Science, is a USGS video production that shows how science is used by government agencies, emergency responders, policymakers, and the public to help build safer communities. It includes interviews with the USGS, the Office of Homeland Security, the City of Los Angeles, the County of Riverside, the California Governor's Office, the East Valley Water District, the Art Center College of Design, the County of San Bernardino, and a professor emeritus from Colorado State University.Animations are available at at http://earthquake.usgs.gov/regional/nca/simulations/shakeout/.

Pan-European referendum impossible, expert says
VALENTINA POP Today NOV 13,08 @ 09:25 CET

EUOBSERVER / BRUSSELS - Recently I sat at a table with 20 top constitutional lawyers from different countries asking if a pan-European referendum was possible and the answer was 'no way,' because of all the different constitutional arrangements. It's more complicated than any other solution, Stefano Bartolini from the European University Institute in Florence said at a conference organised by the EU parliament ahead of the 2009 elections.EU leaders signed the Lisbon treaty in December 2007, but the Irish No put a halt to the project (Photo: Portuguese EU Presidency)Asked if this was the case with a non-binding referendum as well, he replied that this was the type of plebiscite he referred to, a binding one being unthinkable.The chairman of the recently registered Libertas party, Daclan Ganley, who was one of the Irish No-campaigners on the Lisbon treaty, has been advocating a pan-European referendum on the rejected document.But the idea sparked some virulent remarks from British liberal MEP Andrew Duff.

I think if you are seeking to destroy a parliament and political parties, then you resort to plebiscite. And you have populism, xenophobia, ultra-nationalism and racism.He said he was in favour of holding referendums on local matters, for instance on building a casino in a town, but not on constitutional questions.It's insulting the intelligence of the people to ask them if they agree with this extraordinarily obscure text they are not going to read or understand. What do we have MPs for? Why do we pay their salaries? he argued.Another expert from the European University Institute, Mark Franklin, also said referendums were extremely dangerous because they could be misused by unscrupulous politicians.Mr Franklin, who studied voter behaviour during the past decades, said people use treaty referendums to express feelings on unconnected EU issues, such as immigration, where they normally have no say.It's really hard to control that you will actually get an answer on the specific question you're asking and not on something else, he said.A Swiss citizen in the audience noted that in her country, people are very well informed when they go to a referendum and answer precisely on the particular matter they are being asked about, however.

Low turnout debates, a masochistic exercise

With turnout in the European elections constantly decreasing in the past decades, debates in the parliament on this phenomenon were a bit of a masochistic exercise, the legislature's vice-president Alejo Vidal-Quadras told the audience in his opening remarks.It seems to be one of the laws of nature now, that every time we have elections, we get fewer voters. We spend more and more money in trying to get people to vote, but in every European election we see the parliament acquiring less power from the ballot box, he said. While to Mr Vidal-Quadras, the explanations of the low turnout were still a mystery, in Mr Franklin's view, this phenomenon was easily explained by the fact that EU elections were not real elections, where voters could influence policy making.Voters know perfectly well that they won't have any influence on EU policy making in the European elections, because the ultimate decision maker is the EU Council, not the parliament, Mr Franklin said.Give voters some real elections, then they will come to the ballot box.

Rise of fringe parties

The absence of strategic voting in EU elections - voting for big parties because they are likely to get power - should also lead to good scores for extreme parties, both on the right and the left side of the political spectrum, the Italian-based expert added.To Mr Duff, a strong promoter of the Lisbon treaty, the rise in nationalism and even xenophobia and racism was all because of the rejection of the text. With big parties reluctant to bring up EU topics such as the Lisbon treaty, since they were usually internally split on the issues, it was up to the fringe parties to talk openly about such things in the upcoming election campaign, Mr Duff explained. This would only put more pressure on mainstream party discipline, which could ultimately fail to suppress the quarrel about the federalist and nationalist wings, he said.It should be a fairly bloody campaign. And at least if it's exciting, it might induce a higher turnout, Mr Duff concluded.

CNN NEWS VIDEO
http://edition.cnn.com/video/

YAHOO NEWS VIDEO
http://news.yahoo.com/video

MIDEAST CONFLICT NEWS
http://news.yahoo.com/video/1874;_ylt=A0wNcxFdg6xIgbkAwD6z174F

ABC NEWS VIDEO
http://news.yahoo.com/video/2461

FOX NEWS VIDEO
http://news.yahoo.com/video/3074

FOX BUSINESS VIDEO
http://news.yahoo.com/video/3045

AP NEWS VIDEO
http://news.yahoo.com/video/2529

BBC NEWS VIDEO
http://news.yahoo.com/video/2918

REUTERS VIDEO NEWS
http://news.yahoo.com/video/2704

AFP NEWS VIDEO
http://news.yahoo.com/video/3091

CNBC NEWS VIDEO
http://news.yahoo.com/video/3245

HOARDING OF GOLD AND SILVER

DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

REVELATION 13:16-18
16 And he(FALSE POPE) causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM

WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/

HALF HOUR DOW RESULTS THU NOV 13,2008

09:30 AM +31.18
10:00 AM -57.93
10:30 AM +91.19
11:00 AM -1.04
11:30 AM +9.40
12:00 PM -34.89
12:30 PM -89.45
01:00 PM -238.87
01:30 PM -144.25
02:00 PM -34.49
02:30 PM +158.42
03:00 PM +208.99
03:30 PM +299.47
04:00 PM +552.59 8835.25

S&P 500 911.29 +58.99

NASDAQ 1596.70 +97.49

GOLD 737.5 +19.2

OIL 59.42 +3.36

TSE 300 9309.79 +387.22

CDNX 813.49 -9.01

S&P/TSX/60 564.44 +26.24

MORNING NEWS,STATS

YEAR TO DATE PERFORMANCE
Dow -37.56
Dow Transports -23.99%
S&P 500 -41.96%
Russell 2000 -40.89%
NYSE Composite -45.37%

Dow +109 points in first 3 minutes.
Dow up +112 points at high today so far.
Down down -58 points at low today so far.
Dow,S&P near 5 1/2 year closing lows.
3 month T-BILL 0.193% at 9:30AM.
GERMANY is officially in recession.
P.Robertson:GM must go into bankruptcy,then it can rebuild,rebound.

AFTERNOON,NEWS,STATS

Dow at high was +125 points today.
Dow at low was -317 points.
Dow trades in 442 point range today so far as of 2PM.
Dow dips below 8000 points at 1PM today.
Dow trades below 2008 closing low but still above intraday low of 7882 points.
Dow,S&P,Nasdaq on pace for biggest weekly loss since week ending OCT 10,2008.
S&P breaches 2008 low at 12:53PM today.
Nasdaq dips to 2008 low at 1PM today.
Major averages extend losses after S&P 500 drops to 2008 low.
CHRYSLER Narelli:says it would be difficult to survive without GOV. help.

BUSH ON G 20 AND CRISIS.
-Confidence about the future.
-NY has been and always will be financial capital of the world.
-Economies worldwide connected.
-G 20 countries to be there (in WSH)Developing countries,World Bank,IMF,UN,and FINANCIAL STABILITY FORUM will be there Saturday.
-Will meet Sat to adress the current crisis.
-And to lay reforms to prevent a future crisis.
-To big for a single meeting,to complex a series of meetings needed.
1-Understanding the causes of the Global crisis.
2-Reviewing our responses so far.
3-Developing principles for reforming our financial and regulatory systems.
4-Launching a specific action plan to impliment those principals.
5-And reaffirming our conviction that free market principals offer the surest path to lasting prosperity.
-Looking for the Global causes behind the Global crisis.
-Broader reforms to strengthen the Global economy over the long term.
-Establish principals for adapting our financial systems to the realities of the 21st century market place.
-Action we can take to impliment these principals.
-Financials worldwide must be transparent.
1-Consider improving accounting rules.
2-Must be sure markets,firms,financial products are properly regulated.
3-We must enhance the integrity of our financial markets.
4-We must strengthen our cooperation amoung the worlds financial authorities.
-Lending nations should coordinate national laws and regulations.
-reform institutions IMF and WORLD BANK,based on economic order of 1944.
-IMF,WORLD BANK should modernize their Governing structures.
-Extend greater voting power to dynamic devoloping nations.
-IMF should agree to work more closely with member countries to ensure their exchange rate policies are market oriented and fair.
-The WORLD BANK should insure developement programs to reflect the prioraties of the people they are designed to serve and focus on measurable results.
-Government intervention is not the cure all.
-European countries have strict Housing laws.
-Surest path to growth is FRE MARKETS and FREE PEOPLE.
-Free market system provides incentives that lead to prosperity.

WRAPUP NEWS,STATS

Dow at high was 592 points today.
Dow at low was -317 points today.
Dow has 909 point range today.
2 BILLION shares trades today.
Dow up 7% today.
Dow dropped as much as 3.8% to 7965 in todays trading.
Dow back above 8800 points after falling below 8000 points earlier today.
S&P 500 up 7% today.
S&P was down 3.9% to 819 points at todays low.
S&P back above 900 points after dropping below 819 Earlier in the day.
Nasdaq up 6% today.
Nasdaq down 4.7% to 1429 at days low.
S&P and Nasdaq had breached OCT intraday lows before bouncing back strong.
Wall streets biggest gain in 2 weeks.
Stocks swing in range over 9% in todays trading.
Nordstrom Q3 revenue $1.80 BILLION.
Nordstrom Q3 EPS $0.33.
Kohl's Q3 Revenue $3.80 BILLION.
Kohl's Q3 EPS $0.52 VS $0.51 FORCAST.

Stocks stage huge rebound; Dow jumps 553 points By MADLEN READ and JOE BEL BRUNO, AP Business Writer NOV 13,08

CVX 75.71 +8.43
INTC 14.43 +0.91
WMT 54.93 +2.31

Reuters – … NEW YORK – Wall Street launched a massive rebound Thursday, muscling the Dow Jones industrial average up nearly 553 points after driving it down near its lows for the year, as investors decided they did not want to miss out on cheap stocks.After three days of selling that wiped out about $1 trillion in shareholder value, many investors, though nervous about the economy, appeared convinced the market had priced in enough bad news. So when the Standard & Poor's 500 index managed to recover from multiyear trading lows, investors swarmed back in.It's a herd mentality, said Ryan Larson, senior equity trader at Voyageur Asset Management. We started going higher — and you don't want to be the last one on the boat.Some analysts also said investors were positioning themselves ahead of a meeting of Group of 20 leaders in Washington. The meeting could bring decisions on mending the troubled global financial system.There was some anticipation that we'll hear some good news from that meeting, said Jack A. Ablin, chief investment officer at Harris Private Bank. Thursday's rally was part hopeful, part technical. But certainly welcome.As stocks rallied, so did oil prices, sending shares of energy companies higher. The biggest gainer among the 30 Dow companies was Chevron Corp., which rose $8.43, or 12.5 percent, to $75.71. Another big gainer was Exxon Mobil Corp., which climbed $6.48, or 9.4 percent, to $75.41; these two energy stocks represented one-fifth of the Dow's point gain Thursday.Stocks sold off early after the Labor Department said the number of newly laid-off individuals seeking unemployment benefits jumped last week to the highest level since right after the Sept. 11, 2001 terrorist attacks. There was also more evidence of a severe pullback in consumer spending — a worsening trend that had pummeled stocks earlier in the week. Wal-Mart Stores Inc. trimmed expectations for full-year earnings, and Intel Corp. late Wednesday cut more than $1 billion from its sales forecast.

But then the S&P lifted above its Oct. 10 trading lows, and a Treasury auction of 30-year bonds got decent demand from both domestic and foreign buyers, said Arthur Hogan, chief market analyst at Jefferies & Co. The auction results alleviated some fears about the government having a hard time financing its costly bailout.Many analysts had predicted the market would retest the multiyear lows it reached last month. They also still forecast volatility for some time to come, as Wall Street tries to rebuild from October's devastating losses and gauge the severity of the economy's downturn. During past recoveries from bear markets, a great deal of turbulence in the market became commonplace — so it's possible that Thursday's gains will get erased if more gloomy reports pour in.But Hogan called the market's resiliency a great sign.According to preliminary calculations, the Dow rose 552.59, or 6.67 percent, to 8,835.25, after falling as low as 7,965.42 and rising as high as 8,876.59. That's a trading range of 911 points. The Dow did not sink below its Oct. 10 trading low of 7,882.51.The Dow's nearly 553-point gain was the third-largest single-session point gain on record, following the 889-point rise on Oct. 28 and the 936-point surge on Oct. 13.The Standard & Poor's 500 index rose 58.99, or 6.92 percent, to 911.29, after dropping to 818.69 — well below its intraday low of 839.80 on Oct. 10.The Nasdaq composite index rose 97.49, or 6.50 percent, to 1,596.70.The Russell 2000 index of smaller companies rose 38.43, or 8.5 percent, to 491.23.The stock market gained back $700 billion Thursday, after losing about $1 trillion during the first three days of the week, according to the Dow Jones Wilshire 5000 index, which reflects the value of nearly all U.S. stocks. At its lowest trading level Thursday, the market value of the Wilshire index fell below $10 trillion for the first time since April 2003.Advancing issues outpaced decliners by nearly 3 to 1 on the New York Stock Exchange, where volume came to 1.99 billion shares.The price of a barrel of light, sweet crude rose $2.08 to $58.24 on the New York Mercantile Exchange, after falling to the lowest levels since January 2007. Government bond prices fell as investors fled back into stocks. The three-month Treasury bill's yield rose to 0.20 percent from 0.13 percent late Wednesday, and the yield on the benchmark 10-year Treasury note rose to 3.88 percent from 3.67 percent late Wednesday. Higher yields indicate lower demand.

Wal-Mart shares rebounded $2.31, or 4.4 percent, to $54.93. The discount retailer's shares had traded lower in earlier trading after it cut its profit outlook because of the flagging global economy and renewed strength of the dollar. Wal-Mart is the only company among the Dow industrials that is up for the year. Intel also slashed its outlook, initially driving down shares on concerns that consumers are shying away from big purchases like computers. But its shares recovered to trade up 91 cents, or 6.7 percent, to $14.43. General Motors shares, however, remained weak as the nation's automakers wait for President-elect Obama to push Congress to approve a bailout of the struggling industry. There are also reports that Obama will move to appoint a czar or board to oversee the companies. GM dropped 13 cents, or 4.2 percent, to $2.95. Ford shares rose 6 cents, or 3.3 percent, to $1.90. The dollar was mixed against other major currencies. Gold prices rose. Overseas, Japan's Nikkei closed down 5.25 percent and Hong Kong Hang Seng fell 5.15 percent. In European trading, Britain's FTSE 100 was down 0.31 percent, Germany's DAX rose 0.62 percent, and France's CAC-40 added 1.10 percent. On the Net: New York Stock Exchange: http://www.nyse.com Nasdaq Stock Market: http://www.nasdaq.com

Brussels turns regulatory eye on rating agencies
LUCIA KUBOSOVA Today NOV 13,08 @ 09:25 CET

EUOBSERVER / BRUSSELS - The European Commission has unveiled a proposal to regulate credit rating agencies, boasting the blueprint goes further than legislation anywhere else in the world in its attempt to prevent future turbulence based on false ratings of various market actors.These very exciting rules are necessary to restore the confidence of the market in the ratings business in the European Union, said EU internal market commissioner Charlie McCreevy when presenting the document to journalists on Wednesday (12 November).The package includes measures aiming to boost the transparency of the bodies whose malpractice is viewed by some policy makers as one of the factors behind the current financial crisis - by introducing an obligation for them to disclose the models, methodologies and key assumptions on which they base their ratings.Apart from a broader disclosure, credit agencies will in future have to undergo a newly established registration procedure and face an effective surveillance regime by European regulators, under the proposed rules.

Finally, the bill tackles the issue of possible conflict of interest by forbidding rating agencies from providing advisory services, and by introducing the practice of a minimum of three independent directors on an agency board whose pay cannot depend on the business performance of the rating agency. The proposal is in my view well balanced. It ensures the analytical independence of credit rating agencies while at the same time ensuring that they are subject to effective oversight to ensure that professional standards are applied, argued Mr McCreevy.German Liberal Wolf Klinz praised the plan, noting that it will "ensure an orderly admission of rating agencies, more transparency and an enhanced co-operation between the national supervisory authorities.

Better regulation

But analyst Nicolas Veron from the Brussels-based think-tank Bruegel argues that the commission is exaggerating the role that credit agencies have played in the financial crisis. This regulation responds to obvious political demand, Mr Veron told the EUobserver, adding that it was rushed and not enough stakeholders had been consulted. Such an approach could have even worse consequences if taken when Brussels comes forward with other legislative initiatives related to market turmoil.

The analyst argues that the credit agencies showed a lack of understanding and research as they didn't see the crisis coming but that will not primarily be changed due to a stricter regulation.With some aspects - especially those on disclosure - I could definitely agree but I think the commission goes a bit too far in prescribing how the rating agencies should behave in different aspects of their life, he said. The political approach taken by the EU executive is contradictory to its doctrine of better regulation, Mr Veron noted.

Ambitions and scepticism

Commissioner McCreevy denied accusations of over-regulation, pointing out that he has been already associated with the fight against it in the EU corners.He also played down concerns over a possible shift of capital away from Europe: I think that in the new market that is developing from the financial turmoil, investors are going to be particularly careful on where they invest their money. They will invest money in jurisdictions where they think there are high standards, he said.The Irish commissioner believes the EU's rules - which must yet be agreed to by the European Parliament and national governments - will set an example for other global powers.

While we are setting standards for the EU, we want these to become global standards, and we will discuss them with our main international partners with that objective in mind, said Mr McCreevy.The reform of rating agencies is on the European to-do list for the financial market overhaul. A global overhaul of finance oversight is set to be debated at a series of G20 summits of leading industrialised and emerging economies, with the first such gathering scheduled for 15 November.But Mr Veron is sceptical also about this initiative, particularly in its early stages in which president-elect Barack Obama has yet to replace the lame duck administration of outgoing President George W. Bush.

Oil falls to $55 on grim US economic outlook By ALEX KENNEDY, Associated Press Writer NOV 12,08

BBY 21.97 -1.91
MS 11.94 -2.14
^GSPC 852.30 -46.65

SINGAPORE – Oil prices slid to near $55 a barrel Thursday in Asia as more bad economic news from the U.S. heightened fears of a severe global downturn that will pulverise demand for crude.Light, sweet crude for December delivery was down 81 cents to $55.35 a barrel, after falling as low as $55.03, in electronic trading on the New York Mercantile Exchange by midmorning in Singapore.There are fears of reduced demand through 2009, said Victor Shum, an energy analyst at consultancy Purvin & Gertz in Singapore. Market sentiment is extremely bearish. It seems like there's nothing that can stop the bears.The crude futures contract overnight fell $3.50 to settle at $56.16, the lowest closing price since January 2007, after the U.S. Energy Department slashed its 2009 oil consumption forecast.The department said Wednesday it expects U.S. consumption of petroleum to next year drop more severely than any time since 1980. The department's Energy Information Administration said 2009 petroleum consumption is projected to sink by 250,000 barrels per day, or 1.3 percent, more than twice that projected in its previous outlook.Signs that U.S. consumer spending has plummeted also fueled pessimism. Department store retailer Macy's Inc. said sales fell more than 7 percent in the third quarter and consumer electronics retailer Best Buy Co. slashed its fiscal 2009 guidance on fears that consumer spending will erode.Morgan Stanley said it plans to cut 10 percent of staff at its institutional securities group the bank's biggest business that covers everything from investment banking to stock trading.

It's not just gloom and doom sentiment, it's indeed real, Shum said. Companies are showing poor earnings and announcing major job cuts. There's a lot of bad news putting downward pressure on oil.The grim company news helped send the Dow Jones industrial average down 4.7 percent Wednesday, and Asian stocks followed suit Thursday. Japan's benchmark Nikkei 225 index fell 5.1 percent, Hong Kong's Hang Seng index plunged 6.1 percent, and the Korea Composite Stock Price Index dropped 5.3 percent.Oil traders have looked to stock markets for guidance on investor expectations about economic growth.The Organization of Petroleum Exporting Countries, which produces about 40 percent of world supplies, has signaled it may cut production before its next meeting in December on top of a 1.5 million barrel reduction in output quotas last month.I think OPEC considers $50 a must-defend price, Shum said. There are bullish elements that the market has been ignoring.In other Nymex trading, heating oil futures fell 1.39 cents to $1.82 a gallon, while gasoline prices dropped 0.3 cents to $1.24 a gallon. Natural gas for December delivery slid 8.6 cents to $6.32 per 1,000 cubic feet.In London, December Brent crude fell 41 cents to $51.96 a barrel on the ICE Futures exchange.

Canada buys up mortgages, central bank lends more By John McCrank John Mccrank – Wed Nov 12, 5:18 pm ET

TORONTO (Reuters) – The Canadian government will buy up C$50 billion ($40 billion) more in insured mortgages from banks as part of a series of steps announced on Wednesday to improve the availability of long-term credit.The move came as U.S. Treasury Secretary Henry Paulson said he was backing away from buying troubled mortgage assets using a $700 billion bailout fund. Canadian officials said the key difference between the two approaches is that Canadian mortgages are not in distress.

Other measures taken by Ottawa included making it cheaper to use government insurance to guarantee bank borrowing, loosening regulations for banks to allow them more sources of funding, and boosting the borrowing authority of the government's Business Development Bank by C$1.8 billion.The Bank of Canada also set up a term loan facility to lend C$8 billion to banks in four tranches, using their non-mortgage loans as collateral.The measures were aimed not only at easing the credit crunch but at ensuring that domestic banks are able to compete on an equal basis with those in other countries.The government of Canada is prepared to take whatever steps are necessary to ensure that Canada's strong financial system is not put at a competitive disadvantage by developments in other countries, Finance Minister Jim Flaherty said.The government will not allow Canada's financial system, which has been ranked as the soundest in the world, to be put at risk by global events.

Flaherty said Ottawa would triple to C$75 billion the amount of insured mortgage pools it would buy by the end of the fiscal year on March 31. The assets are already insured by the government's Canada Mortgage and Housing Corp.Most Canadian mortgages are not in default nor are they worth more than the underlying properties, unlike many in the United States. But there is still not a strong market for mortgages in the current crisis, so when the government buys them it moves funds to the banks, which they are able to use to lend again.This extension of the program to purchase insured mortgages will further support the availability of credit, which will benefit Canadian households, businesses and the economy, Flaherty said. In addition, it will earn a modest rate of return for the government with no additional risk to the taxpayer.Looking ahead to the weekend G20 summit in Washington on the crisis, Flaherty said countries should make sure their regulations and financial systems are in good order rather than engaging in a grand reorganization of capitalism.I think, quite frankly, that the regulatory approach of getting one's own house in order first is the right approach... because we are in the midst of this and we're probably not that close to the end, he told a business round-table.Among Wednesday's announcements, Flaherty said the government would charge less to guarantee borrowing by Canadian banks. The guarantee facility was introduced on October 23 to ease the lending crunch and to put the banks on an equal footing with foreign competitors. It has not been used so far.The lowest price for insurance under the facility will now be 110 basis points rather than the 160 basis points as announced on October 23, making it more attractive to banks.The move to increase the borrowing authority of the Business Development Bank, which lends to Canadian businesses, was another attempt to improve credit availability.Toby Auterson, senior economist at the Economist Intelligence Unit, said the mortgage purchase plan was a good move to try to get lending moving again.But there is still this crisis of global de-leveraging and risk aversion still present in the market, so banks may end up just hoarding the cash to protect their own interests, Auterson added.

Toronto-Dominion Bank Chief Executive Ed Clark said that Canadian banks should be able to get through the financial crisis without relying on the kind of government aid that is being deployed to financial institutions in other countries. He noted that Ottawa is making money from the mortgage purchase program. We would like to get through this crisis without government bailouts. There have been no bailouts of the Canadian banking system, Clark told a conference in New York. ($1=$1.24 Canadian)
(Writing by Randall Palmer, editing by Rob Wilson)

Putin questions Baltic pipeline, as oil and gas prices drop
VALENTINA POP Today NOV 13,08 @ 09:44 CET

Russian Prime Minister Vladimir Putin has questioned the construction of the Nord Stream pipeline for the first time since the signing of the agreement with Germany to establish the gas delivery network, as gas is set to become cheaper along with the drop in oil prices.Two days ahead of the EU-Russia summit, Mr Putin said he would scrap a planned pipeline that would carry Gazprom gas under the Baltic Sea to Germany if Europe didn't show enough commitment. His remarks suggest the pipeline might be too expensive for Gazprom to build, especially since the price of gas is set to drop significantly.Europe must decide whether it needs this pipeline or not, Mr Putin told Finnish Prime Minister Matti Vanhanen on Wednesday (12 November) at a meeting in Moscow.If you don't, we will build liquefaction plants and send gas to world markets, including to European markets. But it will be simply more expensive for you, he added.His remarks come ahead of the EU-Russia summit in Nice on Friday, when EU leaders are set to announce the resumption of talks with their eastern neighbour on a strategic partnership agreement, suspended after the Russian-Georgian conflict.Joachim Pfeiffer, energy-policy spokesperson for German Chancellor Angela Merkel's Christian Democratic Union, said in a statement that while Germany still supports the pipeline, We won't insist on the Nord Stream project if it doesn't make business sense.Moscow has so far never questioned the viability of the , km-long submarine pipeline, despite construction costs rising year after year, and now estimated to total €7.4 billion, according to the Suddeutsche Zeitung.The German daily points out that the financial crisis has hit Moscow badly and that the price of oil, the driver of Russian growth, has dropped by 50 percent since the summer, leaving Gazprom highly indebted.Mr Putin's calls for Europe to make up its mind about Nord Stream refers to geopolitical and environmental concerns raised by several EU member states. Even in Germany, the project sparked multiple controversies.

The agreement between then president Vladimir Putin and Chancellor Gerhard Schroder was signed during the latter's last weeks in office, with Mr Schroeder later hired later as a member of the Nord Stream board.The Baltic states and Poland strongly oppose the project, concerned they would be cut off from existing gas infrastructure with Russia, as Moscow would probably channel most of the gas deliveries through the direct pipeline to Germany. Sweden also opposes the project due to environmental concerns, echoed by MEPs, who have called for a new investigation into the pipeline's impact on the environment. Finland, one of several EU states that has a say in approving the project, will conduct an environmental review of the plan next year, Mr Vanhanen said after the meeting with his Russian counterpart on Wednesday.

Missile quid pro quo

Ever since the decision of EU foreign ministers to resume talks with Russia, Moscow has softened its stance towards member countries. It has dropped plant import restrictions against Poland and postponed an increase in timber tariffs.Even President Dmitri Medvedev's discussion of placing missiles in its Kaliningrad outpost the second day after the US elections has proven to be a short-term tactical gambit.In an interview with Le Monde on Thursday, Mr Medvedev said he was not going to deploy the short-range missiles in Kaliningrad unless the US goes ahead with its planned missile defense shield in Poland and the Czech republic. We are ready to give up our decision to deploy missiles in Kaliningrad if the new US administration, after having analysed the real utility of the system in responding to rogue states decides to abandon its anti-missile system. The first reaction of the US shows that the new administration is reflecting upon it. We are ready to negotiate a zero-option, he said.

FROM WND'S JERUSALEM BUREAU Syria blames Israel for uranium at bomb site,Claims leaked reports were politically motivated attempt to bring pressure November 12, 2008 11:00 am Eastern By Aaron Klein 2008 WorldNetDaily

Syrian nuclear site

JERUSALEM – Syria's foreign minister today claimed Israel may be behind the United Nations' discovery of uranium traces at a site in Syria bombed last year by the Jewish state.Walid Mualem said the uranium may have been in the bombs that Israel used to target the site and claimed leaks last weekend by the diplomats about the traces found at the site were politically motivated and aimed at pressuring Syria.

These media leaks are a clear-cut signal that the purpose was to pressure Syria. This means that the subject is not technical but rather political, Moallem said.No one has ever asked himself what kind of Israeli bombs had hit the site, and what did they contain, he added.Israeli security sources dismissed Mualem's claims, while the Israel Defense Forces and prime minister's office had no comment.The site bombed by Israel Sept. 6, 2007, was identified by the White House in April as a secret nuclear reactor being built with aid from North Korea.Last weekend, Reuters quoted diplomats close to the U.N. investigation charging uranium was found at the bomb site. The new information is significant, because it was leaked to the media hours after another report by International Atomic Energy Agency Director Mohamed ElBaradei. The head of the U.N. agency said at an IAEA board meeting two months ago that preliminary findings from test samples taken by inspectors who visited the Syrian site in June found no evidence of atomic activity.But two diplomats tied to the U.N. investigation told Reuters the test samples showed evidence of a form of processed uranium that was engineered by humans and was not natural.The diplomats said the finding is not smoking-gun proof that Syria was building a nascent nuclear reactor, but that taken together with other information released by the White House, the uranium discovery warrants further investigation.It isn't enough to conclude or prove what the Syrians were doing, but the IAEA has concluded this requires further investigation, a diplomat told Reuters.A second diplomat said the findings would figure into a report on Syria that will be presented to the IAEA's 35-nation board next week ahead of a scheduled two-day board meeting starting Nov. 24.

The Bush administration, the CIA and other intelligence officials in April briefed select congressional committees on some details of Israel's Sept. 6, 2007, air strike. White House press secretary Dana Perino issued a statement explaining the Syrian regime was building a covert nuclear reactor in its eastern desert capable of producing plutonium.We are convinced, based on a variety of information, that North Korea assisted Syria's covert nuclear activities, she said. We have good reason to believe that reactor, which was damaged beyond repair on Sept. 6 of last year, was not intended for peaceful purposes.The U.S. statement accused Syria of hiding the reactor from the International Atomic Energy Agency and said after the Israeli air strike, Damascus moved quickly to bury evidence of the reactor's existence.This cover-up only served to reinforce our confidence that this reactor was not intended for peaceful activities, the White House statement read.A top U.S. official told the foreign media the Syrian reactor was similar in design to a North Korean reactor in Yongbyon that previously produced small amounts of plutonium, which could be used to construct a nuclear weapon.The White House also released photographs of the bombed Syrian site, which looked strikingly similar to the known designs of North Korean nuclear reactors.Syrian officials denied any involvement in nuclear activity and dismissed Washington's accusations as part of a campaign to discredit the Damascus government.Syria allowed U.N. investigators to visit the site in June, but according to media reports, Syrian Ambassador Mohammed Badi Khattab suggested his country would not allow further visits by U.N. inspectors under any circumstances, claiming that since his country was still technically at war with Israel, additional IAEA visits could expose some of Syria's non-nuclear military secrets.The information throws a wrench into the reported plans of President-elect Barack Obama to dialogue with Damascus. On Monday, WND quoted a Syrian diplomatic source stating his country was briefed by Obama policy aids this past summer that the Democrat supports ending Syria's isolation and that as president he would work to bring Damascus into the international community.The source said the pledges were made at a meeting in Washington, D.C., between Obama's policy aids and Syrian Ambassador Imad Moustapha. The source said Moustapha was asked at the time by Obama's camp not to comment on the meeting.The source said Moustapha was told that Obama favors engagement and economic cooperation with Syria as opposed to the Bush administration's policy of isolating the country and imposing economic sanctions.The source also disclosed Obama's team said the president-elect favors talks between Israel and Syria leading to an Israeli withdrawal from the Golan Heights – strategic, mountainous territory looking down on Israeli population centers that was twice used in the past by Syria to mount ground invasions into the Jewish state.

Hamas: We met Obama advisers,Terrorist group says campaign asked it to keep contact secret until after election November 11, 2008 9:39 am Eastern By Aaron Klein
2008 WorldNetDaily

Barack Obama speaks to media during trip to Israel in July

JERUSALEM – Hamas held a meeting in the Gaza Strip several months ago with aides to President-elect Barack Obama, but the terror group was asked to keep the contacts secret until after last week's elections, according to a senior Hamas official.Ahmed Yousef, Hamas' chief political adviser in Gaza, told the leading Al-Hayat Arabic-language newspaper Hamas has maintained regular communication with Obama aides that even continued during the past week.We were in contact with a number of Obama's aides through the Internet, and later met with some of them in Gaza, but they advised us not to come out with any statements, as they may have a negative effect on his election campaign and be used by Republican candidate John McCain (to attack Obama), Yousuf told Al-Hayat.Yousuf said Hamas's contact with Obama's advisers was ongoing, adding that relations were maintained after Obama's electoral victory last Tuesday.Yousef could not be reached by WND for immediate comment. It wasn't clear which Obama aides Hamas is claiming to have met in Gaza. Obama's transition team did not immediately respond to a WND e-mail and phone message requesting comment.Obama's senior foreign policy adviser, Denis McDonough, told the Jerusalem Post today, This assertion is just plain false.

Yousef gave WND a series of recent interviews in which he praised Obama as the leading candidate. Last week, he called Obama's win a historic victory for the world and told WND that Hamas was sending a letter of congratulation to the president-elect.Six months ago, Robert Malley, a Mideast expert described as an ancillary adviser to Obama, resigned amid a report in a London newspaper that he had contact with Hamas. According to some media reports, Malley is again representing Obama's positions in meetings in Egypt and Syria, although it wasn't immediately clear whether he was acting independently. FrontPageMagazine.com claims Malley was dispatched by Obama.Hamas is responsible for scores of suicide bombings, rocket attacks, shootings and cross-border raids. Its official charter calls for the murder of Jews and destruction of Israel. Just today, Hamas members took responsibility for launching dozens of rockets from Gaza aimed at Jewish civilian population centers.

Last week, Yousef told WND of Obama's win: This is a historic day, a turning point. I think this is the very first time in history that one country's election concerned everyone everywhere all over [the] world. Everybody is looking forward to Obama's change, for a change in the U.S. policy, particularly in the Israeli-Palestinian equation, which is the mother of all conflicts.Yousef said he believes an Obama administration will be more willing to engage in dialogue with Hamas.He said Obama's job will be to restore America's dignity in the world and put an end to the wars in the region.Yousef took the occasion to blast the policies of President Bush, commenting he hopes that after January the Bush administration will not be heard from again.We are sick of wars and conflict, the Hamas official said.Yousef seemed aware his comments may generate some negative publicity for Obama, but he said he feels it important to reach out and to express our thoughts and engage.I praised him six months ago, some people tried to use that against him. But I knew he would win. Like everyone else, we expected this important victory, he said.Yousef was referring to an interview he gave to WND and WABC Radio in April in which he praised Obama and then found his comments had fueled a firestorm of accusations in the presidential campaign.In April, Yousef stated he hoped Obama would become president, comparing the Illinois senator to President John F. Kennedy.We like Mr. Obama, and we hope that he will win the election, Yousef told WND at the time.I hope Mr. Obama and the Democrats will change the political discourse. ... I do believe [Obama] is like John Kennedy, a great man with a great principle. And he has a vision to change America to make it in a position to lead the world community, but not with humiliation and arrogance, Yousef said.Sen. John McCain repeatedly used Yousef's remarks to criticize Obama's judgment foreign policy.

WHAT WILL WEDNESDAY BRING

Iran tests precision missile able to reach Europe By ALI AKBAR DAREINI, Associated Press Writer NOV 12,08

TEHRAN, Iran – Iran said it successfully test-fired a new generation of long range surface-to-surface missile on Wednesday — one that could easily strike as far away as southeastern Europe with greater precision than earlier models.The Sajjil is a solid fuel high-speed missile with a range of about 1,200 miles, Defense Minister Mostafa Mohammed Najjar said on state television. At that range, it could easily strike Iran's arch-foe Israel and go as far as southeastern Europe.Solid-fuel missiles are more accurate than the liquid fuel missiles of similar range currently possessed by Iran. The country has had a solid-fuel missile with a shorter range — the Fateh, able to fly 120 miles — for several years.The Islamic Republic News Agency said the test was conducted Wednesday, and television showed the missile being fired from a desert launching pad.Najjar said the missile was a defensive weapon and not a response to threats against Iran. He didn't name any country, but Israel has recently threatened to take military action against Iran to stop Tehran from developing a nuclear bomb.Najjar said the missile was part of a defensive, deterrent strategy ... specifically with defensive objectives.The defense minister, quoted by Iran state television, said the two-stage missile with two solid-fuel engines has an extraordinary high capability but gave no further details. He did not say whether it was capable of carrying a nuclear warhead.

Israel's Foreign Ministry refused comment about the missile test.

In Washington, the State Department said the missile tests were not good for the stability of the region and were another sign that U.S. plans to construct a missile shield in Europe are critical to international security. Department spokesman Robert Wood said Washington hoped Russia, which has criticized the proposed shield, would recognize the threat posed by Iran and realize the system is not aimed at Russia.I think it's pretty obvious when Iran launches one of these ballistic missiles, that this is something of concern to the international community, and I'm including Russia in the international community here, he said.The name Sajjil means baked clay, a reference to a story in the Quran, Islam's holy book, in which birds sent by God drive off an enemy army attacking the holy city of Mecca by pelting them with stones of baked clay.Iran has intensified its domestic missile development in recent years, raising concerns of the U.S. and its allies at a time when they accuse the country of seeking to build a nuclear weapon. Iran denies it wants to build a bomb, saying its nuclear program is aimed only at generating electricity.In a speech coinciding with the missile launch, President Mahmoud Ahmadinejad warned that his government would act against any threats.The Iranian nation defends its dignity. Should any power stand against the Iranian nation, the Iranian people will crush it under its foot and will strike it on the mouth, he said in a speech broadcast live on state television.Ahmadinejad added that it doesn't matter who comes to power in America because the important question will be how a future U.S. administration will behave.The Sajjil's range puts it at around the same range as Iran's other farthest-flying missiles — a version of the Shahab-3 unveiled in 2005 and the Ghadr, which was shown off at a September 2007 military parade. The Shahab-3 missile is capable of carrying a nuclear warhead, and its latest versions use a combination of liquid and solid fuel.Iran launched an arms development program during its 1980-88 war with Iraq to compensate for a U.S. weapons embargo. Since 1992, Iran has produced its own tanks, armored personnel carriers, missiles and a fighter plane. Najjar said the Sajjil was built by the Defense Ministry's aerospace department.Associated Press writer Matthew Lee in Washington contributed to this report.

CNN NEWS VIDEO
http://edition.cnn.com/video/

YAHOO NEWS VIDEO
http://news.yahoo.com/video

MIDEAST CONFLICT NEWS
http://news.yahoo.com/video/1874;_ylt=A0wNcxFdg6xIgbkAwD6z174F

ABC NEWS VIDEO
http://news.yahoo.com/video/2461

FOX NEWS VIDEO
http://news.yahoo.com/video/3074

FOX BUSINESS VIDEO
http://news.yahoo.com/video/3045

AP NEWS VIDEO
http://news.yahoo.com/video/2529

BBC NEWS VIDEO
http://news.yahoo.com/video/2918

REUTERS VIDEO NEWS
http://news.yahoo.com/video/2704

AFP NEWS VIDEO
http://news.yahoo.com/video/3091

CNBC NEWS VIDEO
http://news.yahoo.com/video/3245

HOARDING OF GOLD AND SILVER

DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

REVELATION 13:16-18
16 And he(FALSE POPE) causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM

WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/

HALF HOUR DOW RESULTS WED NOV 12,2008

09:30 AM -66.27
10:00 AM -146.55
10:30 AM -219.51
11:00 AM -274.23
11:30 AM -249.30
12:00 PM -261.17
12:30 PM -224.13
01:00 PM -235.20
01:30 PM -265.71
02:00 PM -301.17
02:30 PM -282.91
03:00 PM -325.20
03:30 PM -389.64
04:00 PM -411.30 8282.66

S&P 500 852.30 -46.65

NASDAQ 1499.21 -81.69

GOLD 710.1 -22.7

OIL 55.75 -3.58

TSE 300 8905.61 -518.39

CDNX 822.50 -49.83

S&P/TSX/60 537.32 -34.62

MORNING NEWS,STATS

Dow down -202 points in first 4 minutes.
Dow Down -122 at high this morning so far.
Dow down -304 at low today so far this morning.
FDIC,FED,TREASURY issue joint statement on BANK LENDING.
-Urge Banks to make economically viable & appropriate Loans.
-Urge Banks to strengthen capital positions.
-Worn Banks not to tighten lending standards to much.
-Press Banks to modify Mortgages,Urge systematic approach.
-Warn Banks they will take action if dividend policy is Inappropriate.
-All Banking Organisations expected to adhere to principles in joint statement.

AFTERNOON NEWS,STATS

Dow down -333 points at low today.
Dow down 3% today so far.
Dow below 8,360 points at 2:08 PM today.
Dow,S&P,Nasdaq touch lowest levels since OCT 27,08
Stocks fall following Best Buy warning,Paulson TARP update.
GM the only Dow stock trading higher today.
4 WEEK Bill auction at a yield of .07,Any more credit Questions.

WRAPUP NEWS STATS

MARKETS IN LAST HOUR
-G 20 meeting this weekend.
BANKS
-Still need more Capital.
-New round of dividend-cutting comeing?
-No recapitalization scheme:France,Spain,Italy and Ireland.
GE Capital can issue up to $139 BILLION of GOV.guarenteed debt.
GE capital approved for FDIC'S temporary liquidity guarentee program.
Crude oil settles down $3.17 to $56.16.
Crude oil touches 22 month low.
Oil falls to lowest level since JAN 2007.
Stocks fall for third day straight.
Energy prices slide 5% or more today.
Major Averages have not registered monthly gains since AUGUST.
Dow down -429 points at low today.
Dow down 4.7% today.
Dow below 8290 points today.
S&P down 5.2% today.
S&P at 852 points today.
S&P ends day about 3 points above OCT closing low.
S&P,Dow still over OCT closing lows.
Nasdaq down 5.2% today.
Nasdaq falls below 1500 points today.
Nasdaq closes at 5 1/2 year low today.
Nasdaq drops 9% over last 3 days.
Stocks have dropped in last 5 of 7 sessions.
Citigroup stocks below $10 today,12 year low.

Loonie falls more than two cents Wed Nov 12, 12:43 PM
By The Canadian Press

TORONTO - Canada's dollar dropped to its lowest level this month as the currency was buffeted Wednesday by lower commodity prices, falling equity markets and uncertainty about the U.S. mortgage industry. The loonie was down all morning but made a big dive as U.S. Treasury Secretary Henry Paulson was announcing changes to US$700-billion rescue plan for troubled financial firms. The currency fell to as low as 81.10 cents US during Paulson's televised speech, a decline of 2.48 cents US from Tuesday's close, but there were likely other factors that contributed to the loonie's slump. Commodity currencies (which include Canada's) are under relatively severe pressure right now and that's consistent with the decline in crude oil prices. They're down about $2.50 a barrel this morning, said Steve Malyon, a Scotia Capital currency strategist. And we're also seeing equity markets under pretty significant pressure and those, really, have been two key ingredients going back over the past several weeks and even the past several months.In terms the impact of Paulson's speech, the markets may be expressing its disappointment that the treasury department appears to be moving away from the initial intent of relief program.

Paulson said the program will not be used to purchase troubled mortgages and other assets from banks as originally planned, but the government will continue to invest banking companies to provide them with the capital they require to weather the credit crunch. So it sort of begs the question of how we're going to establish a market for these distressed assets and that may be contributing to some nervousness, Malyon said. But we're also seen some negative announcements regarding large corporations and negative earnings news. I just think there's a general air of uncertainty and nervousness out there that's contributing to the weakness in equity markets and that's translating into weakness commodity currencies.Canada's resources-based economy and currency are linked to the price of commodities such as oil, metals and grains, which have been falling in the last several months over recession fears. The December contract for crude oil, a major Canadian export, fell below US$59 a barrel Wednesday - providing some relief for energy users including drivers but undermining what had been one of the country's strongest sectors. Finance Minister Jim Flaherty and the Bank of Canada also made separate announcements Wednesday morning about further help they're giving to ease strains on the Canadian banking sector. Canada's central bank said it will inject an additional $8 billion into the country's tight money markets under new liberal terms. The Bank of Canada said its the new Canadian-dollar term loan facility will be conducted in four auctions of $2 billion each over the next few weeks. Flaherty said Ottawa will buy another $50 billion in residential mortgages from Canadian banks to ease the credit crunch they're facing as a result of the ongoing global financial upheaval. Malyon said he didn't think Flaherty's announcement had much impact on the Canadian dollar.

Stocks skid on news gov't won't buy banks' assets By SARA LEPRO, AP Business Writer Sara Lepro, NOV 12 ,08

BBY 21.97 -1.91
M 8.37 -1.04
MS 11.94 -2.14
SBUX 9.33 -0.66
TOL 17.88 -1.05

NEW YORK – A disheartened Wall Street fell for the third straight session Wednesday as investors absorbed another series of dismal corporate reports and news that the government won't buy banks' soured mortgage assets after all. The Dow Jones industrials skidded 410 points, and all the major indexes dropped more than 4 percent.The market started the day falling on more signs that companies are being hurt by a severe pullback in consumer spending. Macy's Inc. said it lost $44 million in the third quarter as sales at the department store retailer fell more than 7 percent. And consumer electronics retailer Best Buy Co. slashed its fiscal 2009 guidance on fears that consumer spending will erode even further.Meanwhile, Morgan Stanley, suffering from the ongoing losses on Wall Street, outlined plans to cut 10 percent of staff in its institutional securities group — its biggest business that covers everything from investment banking to stock trading.The bleak reports, which followed disappointing news from coffee retailer Starbucks Corp. and homebuilder Toll Brothers Inc. earlier in the week, made it increasingly clear to investors that companies across the economy are suffering from the aftermath of the housing and credit crises.There just doesn't appear to be an end in sight to the bad news, said Anton Schutz, portfolio manager of the Burnham Financial Industries Fund and the Burnham Financial Services Fund. The selling is relentless.There was more pain at mid-morning, when Treasury Secretary Henry Paulson said the government's $700 billion financial rescue package won't purchase troubled assets from banks. He said that plan would have taken too much time, and that the Treasury instead will rely on buying stakes in banks and encouraging them to resume more normal lending.

While the market had been pleased by the government's decision weeks ago to buy banks' stock, investors still hoped to see the financial industry relieved of the burden of the mortgage assets whose decline in value helped set off the nation's financial crisis. His comments, which underscored the anxiety that remains about the health of the financial system, sent stocks falling further.Analysts believe the market is in the process of retesting the intraday low hit on Oct. 10, when the blue chips fell to 7,882.50.We're just going through the typical process of testing and retesting, said Matt King, chief investment officer of Bell Investment Advisors. If we can continue to build higher and higher lows, that's definitely a positive. If the Dow can build a base above 8,100 and bounce off that, we see that as a definite technical positive.The selling accelerated in the last hour of the day, as it has done in most sessions over the past two months.When there is a lot of volatility, especially on a big down day, people just decide they don't want to own stocks overnight, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "News doesn't drive this lower, fear does. Investors will back the next morning after they see where things settled.According to preliminary calculations, The Dow shed 411.30, or 4.73 percent, to 8,282.66.The broader Standard & Poor's 500 index dropped 46.65, or 5.19 percent, to 852.30, and the Nasdaq composite index stumbled 81.69, or 5.17 percent, to 1,499.21.On the Net:New York Stock Exchange: http://www.nyse.com Nasdaq Stock Market: http://www.nasdaq.com

Oil slips below $59 on global growth pessimism By GEORGE JAHN, Associated Press Writer NOV 12,08

VIENNA, Austria – Oil prices slipped below $59 a barrel Wednesday as investors grappled with the prospect that global growth next year will slow more than originally feared, cutting demand for gasoline and other crude products.Expectations that a snapshot of the U.S. inventories will also show reduced consumption of oil and derivatives also acted as a drag on the market.Light, sweet crude for December delivery was down 99 cents to $58.34 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract overnight fell $3.08 to settle at $59.33, the lowest closing price since March 2007.Oil prices have fallen about 60 percent in four months, plunging from a record $147.27 in mid-July.We have a pretty good idea that global growth is going to be pretty awful next year and probably not much better in 2010, said Mark Pervan, senior commodity strategist with ANZ Bank in Melbourne. There was clearly a bubble scenario in all commodities and that bubble has burst.Investors are pricing in slowing crude demand growth from China, whose economy, the world's fourth largest, was once thought to be a counterweight to weakening demand from the U.S. and Europe.U.S. bank Morgan Stanley earlier this week cut its 2009 forecast for Chinese economic growth to 7.5 percent from 8.2 percent. The bank expects Asia outside of Japan to grow 5.5 percent next year, the U.S. economy to shrink 1.3 percent and Europe to contract 0.6 percent.China is now seen as less of a backstop to falling demand in developed countries, Pervan said. With definitive slowing in China, the market is even more sensitive to negative economic news out of the US and Europe.The World Bank said Tuesday it expects developing countries to grow 4.5 percent next year, down from its previous forecast of 6.4 percent growth. Developed countries will likely contract 0.1 percent in 2009, the Bank said.

Trader and analyst Stephen Schork noted that the reaction to Beijing's planned economic stimulus package earlier this week — and the subsequent oil price fluctuations — were symptomatic of the jittery state the market finds itself in.It is important to remember that price is a function of the crowd's emotional input to a given fundamental event. he said in a research note. Thus, those traders who thought it was a good idea to pay $65 Sunday night were probably the same traders who had to sell (at) $59 yesterday afternoon.Investors have brushed off two recent production cuts by the Organization of Petroleum Exporting Countries, and prices have continued to fall amid talk of a third quota output reduction next month.

Qatar's prime minister, Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, said Tuesday that fair oil prices of between $70 to $90 per barrel would ensure that expensive oil exploration could continue and help to avert price spikes in the future.The market has become so demand focused that obvious support mechanisms, like OPEC cutting supply, don't have the same impact, said Pervan, who expects prices to fall to $45 a barrel during the first quarter of next year.Investors will be watching for signs of slowing U.S. demand in the weekly oil inventories report to be released by the U.S. Energy Department's Energy Information Administration. The petroleum supply report was expected to show that oil stocks rose 1.1 million barrels last week, according to the average of estimates in a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.The Platts survey also showed that analysts projected gasoline inventories rose 850,000 million barrels and distillates increased 1 million barrels last week.In other Nymex trading, heating oil futures slipped by more than 3 cents to $1.90 a gallon, while gasoline lost nearly 2 pennies to fetch $1.29 a gallon. Natural gas for December delivery fell 12 cents to $6.69 per 1,000 cubic feet.In London, December Brent crude fell 68 cents to $55.03 a barrel on the ICE Futures exchange. Associated Press writer Alex Kennedy contributed to this report from Singapore.

European shares edge up, dollar dips By Carolyn Cohn NOV 12,08

LONDON (Reuters) - European stocks recovered some ground on Wednesday after steep losses in the previous session and the dollar dipped, but oil hovered near 20-month lows on ongoing worries about a slowdown in global demand.Weak corporate earnings dragged down U.S. stocks and Asian shares followed, with shares of General Motors sliding to a 65-year low on Tuesday on mounting worries about whether it can avoid bankruptcy.But European mining shares tracked firmer metals prices and banks advanced after recent losses. Gold rose and platinum gained more than 3 percent, helped by a weaker dollar.The FTSEurofirst 300 index of top European shares rose 0.29 percent to 886.13, after falling more than 4 percent on Tuesday. The index has lost about 40 percent this year, hit by the global credit crunch and resulting economic slowdown.The markets are still being buffeted by growth concerns, equity market weakness and risk aversion, said analysts at Calyon in a client note.Whilst perhaps not in the crisis situation of a few weeks ago, nervousness continues to undermine risk appetite.World Bank President Robert Zoellick warned global trade may drop next year for the first time in more than a quarter of a century as the global credit crisis cuts into trade financing.Russia's RTS share index fell 7.8 percent, dragged down by U.S. and Asian markets and falling oil. The more liquid MICEX index was suspended limit down until Thursday.U.S. crude oil fell 90 cents a barrel to $58.41, close to its lowest since March 2007 and down more than $80 from record peaks hit in July.The dollar dipped after earlier hitting two-week highs against the euro, to trade around half a percent lower at $1.2577. It steadied against the yen at 97.75.

POUND SLIDES

Sterling hit 12-year lows on a trade-weighted basis on worries about a UK recession and expectations of further monetary easing, after a shock 150-basis point UK rate cut last week.Overall, sentiment is negative for sterling as weak data have intensified recession fears and on expectations of continued aggressive rate cuts by the Bank of England, said Commerzbank currency strategist Antje Praefke in Frankfurt.
The Bank of England will release its quarterly inflation report at 1030 GMT and is expected to slash its growth forecast and warn that inflation may undershoot its 2 percent target next year.Euro zone government bonds were under pressure on the prospect of absorbing the day's sizeable new issuance.Germany will offer 7 billion euros of new 10-year Bunds, with a $25 billion auction of 3-year notes in the U.S. to follow.Two-year euro zone government bond yields were up 3.4 basis points and 10-year yields were up 1.9.The MSCI global emerging equities index fell 1.28 percent and emerging sovereign debt spreads widened by 7 basis points to 599 bps over U.S. Treasuries.(Editing by Mike Peacock)

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) 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).

Czech president and Irish No camp hold victory banquet
LISBETH KIRK Today NOV 12,08 @ 09:22 CET

EUOBSERVER / DUBLIN - Czech President Vaclav Klaus ends a three-day official visit to Ireland on Wednesday (12 November), a trip marked by a great deal more controversy than most trips by heads of state to Dublin.The Irish government is still struggling to find answers to satisfy both Irish voters and other governments in the European Union after a majority of people voted down the Lisbon treaty in a referendum in June. We must find ways of allaying the concerns raised by the Irish people. We must do so, however, in a manner that proves acceptable to our EU partners. This combination will not be easy to achieve, but I am determined to do so, Irish Taoiseach Brian Cowen declared on the first day of the state visit.The Irish leader is expected to come up with a proposal for a solution at the EU summit in December, just one month from now. Meanwhile, a special committee of the Irish parliament is still busy organising hearings to figure out why the majority of the Irish voted No.With the Czech republic taking over the EU presidency from January 2009, Prague will be tasked to find a solution to the Lisbon treaty stalemate. But the country itself has not yet ratified the text, with a decision of the Constitutional Court expected on 25 November and the president so far refusing to sign the treaty.

This state visit was planned long ago, and before the referendum on the Lisbon treaty had even taken place, the Czech head of state pointed out at a press conference in Dublin on Tuesday (11 November).Changes have been going on in the European Union, in radical shifts going from integration to unification, from inter-governmentalism to supranationalism, Vaclav Klaus said, adding that the Lisbon treaty was accelerating the shifts.We have the feeling - some of us - that it is not adding to positive development in Europe and that democracy and freedom are not to be enhanced by the ratification of the Lisbon treaty. To the contrary.President Klaus said he had followed with great interest the referendums in Ireland in 2008 and in France and the Netherlands in 2005, all ending with the majority of the electorate rejecting new EU treaties.Because of our Communist past, we are extremely sensitive about the idea of freedom and democracy, perhaps even over sensitive, he admitted.We are part of Europe and have always been. We have no other chance than to participate in European integration ... What we are talking about is the internal development of the European Union. You can have different views on how to organise the Union and what competences move from Dublin or Prague to Brussels. That is the issue of the day.

Malcontents' dinner

The Irish government hosting the visit had made no secret of their discontent that Mr Klaus accepted an invitation to dine with the leaders of the Irish No campaign while he was in Ireland.At the invitation of one of the No groups, Libertas leader Declan Ganley, some 80 people celebrated the referendum result at the fashionable Shelbourne Hotel in central Dublin. Among the guests were the leader of the French right-wing nationalist party Mouvement Pour La France, Philippe de Villiers, and Austrian independent MEP, Hans-Peter Martin.President Klaus and Mr Ganley held a joint press conference in the Constitutional Room at the hotel, where the first constitution for a free Irish state was drafted in 1922. Some of the drafts written on an old-style typewriter can be studied in the room, with corrections of the texts showing how difficult drafting treaties was at the time.The Czech president denied breaching protocol by meeting Mr Ganley and his campaigners during the official state visit.During two days with official representatives of the Irish government, no one mentioned this meeting. It is a creation of part of the media, seeing a problem, President Klaus said. Mr Ganley added that French President Sarkozy had not been criticised for meeting No camp representatives when he visited Ireland earlier in the year.

Libertas speculation

Declan Ganley recently registered his group, Libertas, as a political party under Irish law, with speculation growing that he might run a list in the upcoming European Parliament elections in June 2009.Libertas is in active discussion with people in many countries sharing our views, the group's leader said. June 2009 might be an opportunity to give people the European referendum they have not had, he hinted, holding back however from offering further details.Asked whether he would support such a pan-European political initiative, Vaclav Klaus said he would not join any such movement as president of his country. But if Mr Ganley wins the European elections I will be the first one to congratulate him.

Liberals hope to hold head above water in next EU parliament
VALENTINA POP Today NOV 12,08 @ 08:13 CET

EUOBSERVER / FOCUS - The financial crisis has forced the European Liberals to adopt a more moderate deregulatory stance in their party manifesto for next year's European Parliament elections in an attempt to strike a balance between their support for free markets and concerns that voters may be less receptive at the moment to a classical liberal message. The Liberals, known for their fondness of deregulation and celebration of free markets, worry that in the wake of the financial crisis, they may not be the most popular option in the minds of voters worried about their jobs and the collapsing economy and looking to government for a helping hand.According to the chair of the grouping in the European Parliament, Annemie Neyts, the Liberals are hoping to hold onto around 100 seats in the next European Parliament. The party grouping currently has 103 euro-deputies in the chamber, the third largest group after the European People's Party and the Party of European Socialists.Ms Neyts says she hopes for at least the same number of seats to be won in the next legislature.Asked whether she thought the global financial and economic crisis will also translate into fewer votes for the Liberal parties, Ms Neyts stressed that the European Liberal Democrat and Reform Party (ELDR) never opposed regulation, which is necessary in order for a market to be kept open.In terms of the financial crisis, it is important to keep markets open and measures should not have any distorting effect, but we should also work towards an EU-wide regulator, she argued.However, she agreed that the current crisis could boost the leftist parties, not so much the mainstream social-democratic ones, which were struggling to appeal to the voters, but in a strengthening of the revolutionary parties, mostly on the left, but possibly also on the right.Following its congress in Stockholm on 30-31 October, the ELDR adopted its manifesto for next year's European elections, covering four main areas: civil liberties, the EU single market, climate change and foreign affairs. The positions outlined in the 36-page document are guidelines for the national campaigns, Ms Neyts explained to EUobserver, adding that the platform has been developed by four working groups for over a year and a half. The manifesto warns against a relapse into obsolete policies of nationalisation, over-regulation and protectionism, and says: There is no room for fantasies about new world orders or a reinvention of capitalism.

Instead of a new economic order, the European Liberals call for a reformed and sound financial system, something more in line with what is expected to be discussed at the G20 summit in Washington on 15 November.However, the Liberals are far from embracing wholesale government interventionism.By intervening, governments curtail the responsibility of free enterprise for the risks involved, reducing the personal responsibility of the citizen. The only guarantee for prosperity lies in the high-level personal responsibility of market participants. Therefore, the way in which the crisis is handled must not be allowed to undermine faith in the strength of a liberal order, which is by definition never risk-free, the manifesto reads.In terms of climate change, Ms Neyts underlined: The ambitious goals should not be sacrificed, but rather seen as an economic opportunity.In their manifesto, the Liberals urge all member states to reach an agreement on the EU's climate package in order for the EU to be able to act as a strong and united actor at the Copenhagen post-Kyoto conference in December 2009.Backing the EU goal of reducing greenhouse gas emissions by at least 20 percent by 2020, the Liberals want to make climate protection and the reduction of greenhouse gas emissions a top priority with respect to EU energy-related legislation introduced in the European Parliament.

Focus on agricultural policy reform

One strong priority that emerged during the drafting of the manifesto was the reform of the common agricultural policy (CAP), Ms Neyts added.The ELDR manifesto underlines that the rise in food prices heavily impacts low-income countries, with 75percent of the world's poor living in rural areas, while just five percent of the EU population does so - the EU farming sector accounts for less than three percent of the EU's GDP while receiving more than 40 percent of the EU budget. Against this background, the European Liberals propose a progressive reduction of the CAP after 2013 and its replacement with new common food, rural and sustainable land-use strategies. They also invite the European Commission to work towards a multilaterally-agreed total liberalisation of world agricultural trade within a fixed deadline.This liberalisation, in the ELDR view, should be accompanied by the respect of the same food-safety standards as those faced internally by EU farmers for EU agricultural imports in order to avoid EU farmers being put at a competitive disadvantage and thereby ensure a level playing field.

MEPs loth to ask US congress on Irish No funding
PHILIPPA RUNNER Today NOV 12,08 @ 09:28 CET

EUOBSERVER / BRUSSELS - MEPs will in December ask US members of congress whether the Irish No campaign on the Lisbon treaty received US funds, but the question will be put in a low-profile way to avoid embarrassment.There is no prospect of me asking a formal question in the context of the meetings, but there will be an opportunity to raise the matter informally, British Conservative MEP and the chairman of the European Parliament's US delegation, Jonathan Evans, told EUobserver on Tuesday (11 November).I'm not going to ignore concerns that were raised but I'm not going to elevate it to the same importance as the main agenda items ... what would I ask anyway? If the CIA gave funding to the No camp? European Parliament leaders - the conference of presidents - in September discussed the US connections of Irish businessman Declan Ganley, who helped orchestrate the No vote against the Lisbon treaty in June.Mr Ganley's company, Rivada Networks, makes communications equipment for the US government. The leader of the Green group in the parliament, Daniel Cohn-Bendit, said in plenary at the time that there possibly exists a link between the financiers of the No campaign in Ireland and the Pentagon, as well as the CIA, which would show there are forces in the US willing to pay people to destabilise a strong and autonomous Europe.Mr Ganley has denied receiving foreign funding for the Lisbon referendum campaign. The European Parliament's interference in the Irish electoral process causes grave concern for the state of democracy in Europe, he said in September.The European Parliament delegation will meet with about 20 congressmen in Miami between 6 and 8 December. The formal agenda for the six sessions includes questions on the financial crisis, climate change, the US elections, visa waivers, the security of containerised trade, Iran and Russia. The event will generate a three-page report indicating any potential follow-ups.Mr Evans said the conference of presidents did not give him official instructions to ask the Ganley question, but the office of parliament President Hans-Gert Poettering gave him to understand it is treating the matter seriously.I don't think the president views the Ganley issue lightly, the British MEP said. He explained that initial contacts with congress did not bode well for a Ganley query and implied the whole affair may end up hurting the European Parliament's reputation.Those in the US have expressed incredulity that this might become a formal issue at a delegation meeting. The Congress secretariat asked: Are you Europeans serious? Someone else asked: Is it now the European Parliament's position that the CIA organised the referendum in Ireland? We're not going to have our agenda sidelined by this issue, Mr Evans said. Expecting a congressional inquiry into this matter may be unrealistic.

MEPs pressure Prague to ratify Lisbon treaty
VALENTINA POP 11.11.2008 @ 22:36 CET

EUOBSERVER / BRUSSELS - The Czech Republic could be a bigger problem than Ireland for the ratification of the Lisbon treaty, German social-democrat MEP Jo Leinen told EUobserver after returning from Prague on a delegation divided by its approach to the problem. A group of hardliners in the Senate and Czech President Vaclav Klaus are playing a postponing game on Lisbon, Mr Leinen explained, saying the clique has already ensured Lisbon will not be ratified by the time the Czech republic takes over the EU presidency on 1 January 2009.There will be a shadow on the Czech presidency and they will be confronted with this situation already at the December summit and from the first day of their presidency, the MEP, who is the chairman of the European Parliament's constitutional affairs committee, explained. The European Parliament delegation visited the Czech capital last week, after a verdict by the constitutional court on whether the EU treaty is compatible with the country's charter was postponed from 10 November to 25 November.The Czech republic and Ireland are the biggest obstacles to Lisbon ratification, although the German and Polish presidents have also refused to sign off on the text for now.Prague will resume its parliamentary procedure after the constitutional court verdict. But Ireland rejected the text in a referendum in June, with pro-Lisbon treaty politicians now keen to isolate Dublin to force a second vote. The key problem that we face is to oblige and persuade the Irish to change their mind about the Treaty of Lisbon, and the [Czech] presidency will play a key part in that exercise. So instead of becoming part of the solution to the Irish problem, a Czech presidency that is reluctant to ratify itself will become part of the problem, UK liberal MEP Andrew Duff told this website. Until they ratify, the Czech EU presidency will not have credibility and authority, he added.Failure to adopt Lisbon could in the end split the EU into sub-groups, the British constitutional expert warned. [It would] break the cohesion of the EU, leaving the Czechs and Irish behind, for instance in establishing a separate [EU] treaty in security and defence matters.Danish eurosceptic MEP Hanne Dahl has complained about the delegation's Czech foray on her personal blog, however, calling her colleagues' attempt to pressure Czech politicians a breach of normal diplomatic behaviour and completely unacceptable.What several members of the delegation said was not in any way the official opinion of the EU parliament. The [parliament] did not issue a statement saying that it thinks the Czech republic is not qualified to chair the EU presidency because it didn't ratify the Lisbon Treaty, she said.

Ms Dahl said the situation is exemplary of how smaller EU countries are treated if they do not follow the mainstream, adding that some EU capitals want to set up a rotating EU presidency among just the six biggest EU states if Lisbon fails. Denmark is also a small country which had four opt-outs from common EU policies when it chaired the EU quite successfully in 2002, undermining the argument that the Czech republic cannot do a good job, she argued. Her remarks left Mr Duff unfazed. We certainly ought not to apologise at all for putting pressure on the Czech parliament, the sooner they can conclude it [the ratification], the more pleased we would be and the better the prospect for persuading the Irish to alter their mind would be.

EU dissident meets No campaigner

Meanwhile, Czech President Vaclav Klaus planned to meet Irish politician and No-campaigner Declan Ganley in Dublin on Tuesday (11 November).My predecessor Vaclav Havel also liked to meet dissidents in different countries, so I will now meet a European Union dissident. And I see myself as one of them, Mr Klaus said before making the trip.Mr Ganley is chairman of the Libertas association, which led the campaign for a No vote in June. Mr Klaus was the only European head of state to welcome the Irish rejection of the treaty, aimed at streamlining EU decision-making after recent enlargement, calling it a victory over European bureaucracy.The Libertas website said Mr Ganley was now working on a platform that could give all EU citizens a chance to express their views on Lisbon at the ballot box next June - the date of the next European elections.

MEPs attack Facebook over anti-gypsy hate groups
LEIGH PHILLIPS Today NOV 12,08 @ 09:13 CET

Socialist deputies in the European Parliament have condemned Facebook, the popular social networking service, for hosting anti-gypsy groups on its site.Facebook groups attacking Roma people and bearing such names as Let's burn them all, Turn gypsies into fuel and Useful work for gypsies: testers of gas chambers have been roundly condemned by the Party of European Socialists.German MEP and Socialist group leader Martin Schulz said: The existence of these groups is repulsive. I call upon Facebook to remove them immediately.Mr Schultz highlighted seven such Facebook groups - all Italy-based - saying that known fascist organisations were behind them.Nazi salutes appear as illustrations on some of the group webpages.With Facebook, any user can set up a group that others can sign up to. Normally, groups bring together people with common interests or professions, or from the same town or who went to the same elementary school.Political groups also make use of the Facebook feature. Both candidates for the US presidential race, Barack Obama and John McCain, had their own Facebook groups.However, the company has repeatedly run into trouble for hosting groups that are considerably more unsavoury.Last August, a cross-party assembly of members of parliament in the UK condemned the site for hosting four Facebook groups backing the fascist British National Party. The groups' webpages included images of Ku Klux Klan members posing with a sword under the caption Local BNP meeting, blacks welcome" and called on people to hang gollywogs and to join to help them fight evil and win the war of cleansing Britain.Facebook has been loth to remove such groups, citing freedom of speech. Despite the UK campaign, and the subsequent decision by six corporations, including Vodafone and Virgin Media, to yank their advertising from the site when the groups were discovered, the social networking site to this day is still hosting them.

Speaking on Tuesday, the 90th anniversary of the end of the First World War, the euro-deputy said: It is shameful that on the day Europe marks the deaths of those who fell in war, Facebook is helping those who want to take us back to those dark days.Backed by the leader of the Italian Socialists in the European Parliament, Gianni Pittell, Mr Schulz called on Facebook users to contact the company and demand they close down the groups.Mr Pitelli, for his part, said it was a day of shame for Facebook.

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 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.

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.

Olmert's change from hawk to dove seems complete By ARON HELLER, Associated Press Writer – Wed Nov 12, 2:44 am ET

JERUSALEM – Prime Minister Ehud Olmert, once one of Israel's leading hawks, is leaving office an outspoken dove.Forced out by corruption charges, Olmert is saying something that used to be fringe opinion among Israelis — that to make peace with the Palestinians, Israel must make sweeping territorial concessions, including Arab parts of Jerusalem.We must relinquish ... parts of our homeland as well as Arab neighborhoods in Jerusalem, and return to the seed of the territory that was the state of Israel up to 1967, with the necessary adjustments arising from the reality that has since been created, he said in one of two speeches this week in which he laid out his credo.The ideology he once espoused, of keeping the territory Israel captured in the 1967 Mideast war, will not work. It is already not working," he said in speeches Monday marking the 13th anniversary of the assassination of his dovish predecessor, Yitzhak Rabin, by a Jewish nationalist.We were wrong. We did not see the big picture, he said.Unless the land was partitioned into Jewish and Palestinian states, it would morph into one country in which an Arab majority would mean the end of Jewish statehood, he warned.The moment of truth has come, and there is no escaping it ... if God forbid, we drag our feet, we might lose the support for the idea of two states. The alternative is inconceivable.Never before has a serving Israeli prime minister spoken so forcefully for partitioning the land, and it was all the more striking given Olmert's background.Raised in a staunchly nationalist home on an ideology that opposed any territorial concessions to the Arabs, Olmert went on to serve in the hard-line governments of his former Likud Party.In recent years, though, he has come to publicly embrace a land-for-peace deal, but never the formula of complete withdrawal with border adjustments. As deputy prime minister, Olmert helped lead Israel's 2005 unilateral withdrawal from the Gaza Strip. He was elected prime minister in March 2006 on a platform calling for a broad withdrawal from the West Bank as well.His latest speeches go further, to the astonishment of the public. They sound close to what has long between the international formula for Mideast peace but is sharply at odds with past Israeli governments that demanded a substantial redrawing of borders to protect the country from surprise attack.

It's amazing, but it is tragic, says Moshe Amirav, a childhood friend of Olmert's who recalls being expelled from Likud 20 years ago for saying what Olmert is saying now.But I am optimistic about the future, added Amirav, a political scientist at the Hebrew University in Jerusalem. If he, a right-wing prime minister, is saying this, there is hope.Olmert resigned in September because of corruption charges, but remains in office until a new government is formed after the Feb. 10 election.

Longtime Israeli doves fault him for not speaking up sooner. Lawmaker Yossi Sarid said he found the prime minister's comments to be heartfelt but delivered publicly only when he had nothing left to win and nothing left to lose.It's too bad he woke up so late, Sarid said.Olmert confidants say he couldn't speak out so frankly as long as he had to hold a shaky coalition government together.Foreign Minister Tzipi Livni, her centrist Kadima party's candidate to succeed Olmert, quickly distanced herself from his remarks. I am not committed to the words of the outgoing prime minister, she told Israel's Army Radio Tuesday. We can conduct negotiations my way without having to reach the points the outgoing prime minister presented yesterday.

Polls regularly show most Israelis support a two-state solution with the Palestinians, though not necessarily a withdrawal to the 1967 borders. I am saying what this nation truly needs, not what it wants to hear, Olmert said at Rabin's grave. Palestinian negotiator Saeb Erekat praised Olmert for his candor and remembered their first encounter 20 years ago. The man I spoke with then is a totally different man than the one I see before me today, he said. And maybe I am a different man now, too.