Worker dies at Long Island Wal-Mart after being trampled in Black Friday stampede New York Daily News (November 28, 2008) - A Wal-Mart worker died early Friday after an "out-of-control" mob of frenzied shoppers smashed through the Long Island store's front doors and trampled him, police said. The Black Friday stampede plunged the Valley Stream outlet into chaos, knocking several employees to the ground and sending others scurrying atop vending machines to avoid the horde. When the madness ended, 34-year-old Jdimytai Damour was dead and four shoppers, including a woman eight months pregnant, were injured.

"He was bum-rushed by 200 people," said Wal-Mart worker Jimmy Overby, 43. "They took the doors off the hinges. He was trampled and killed in front of me. "They took me down, too ... I didn't know if I was going to live through it. I literally had to fight people off my back," Overby said.

Damour, a temporary maintenance worker from Jamaica, Queens, was gasping for air as shoppers continued to surge into the store after its 5 a.m. opening, witnesses said. Even officers who arrived to perform CPR on the trampled worker were stepped on by wild-eyed shoppers streaming inside, a cop at the scene said. "They pushed him down and walked all over him," Damour's sobbing sister, Danielle, 41, said. "How could these people do that? "He was such a young man with a good heart, full of life. He didn't deserve that."

Damour's sister said doctors told the family he died of a heart attack. His cousin, Ernst Damour, called the circumstances "completely unacceptable." "His body was a stepping bag with so much disregard for human life," Ernst Damour, 37, said. "There has to be some accountability."

Roughly 2,000 people gathered outside the Wal-Mart's doors in the predawn darkness. Chanting "push the doors in," the crowd pressed against the glass as the clock ticked down to the 5 a.m. opening. Sensing catastrophe, nervous employees formed a human chain inside the entrance to slow down the mass of shoppers. It didn't work. The mob barreled in and overwhelmed workers.

"They were jumping over the barricades and breaking down the door," said Pat Alexander, 53, of Crown Heights, Brooklyn. "Everyone was screaming. You just had to keep walking on your toes to keep from falling over." After the throng toppled Damour, his fellow employees had to fight through the crowd to help him, police said.

Witness Kimberly Cribbs said shoppers acted like "savages." "When they were saying they had to leave, that an employee got killed, people were yelling, 'I've been on line since Friday morning!'" Cribbs said. "They kept shopping."

When paramedics arrived, Damour's condition was grave. "They were pumping his chest, trying to bring him back, and there was nothing," said Dennis Smokes, 36, a Wal-Mart worker. Damour was taken to Franklin Hospital and pronounced dead at 6:03 a.m.

Hank Mullany, president of Wal-Mart's northeast division, said the company took extraordinary safety precautions. "We expected a large crowd this morning and added additional internal security, additional third-party security, additional store associates and we worked closely with the Nassau County police," he said in a statement. "We also erected barricades. Despite all of our precautions, this unfortunate event occurred." The 28-year-old pregnant woman and three other shoppers were taken to area hospitals with minor injuries, police said.

In a news conference after the incident, Nassau County police spokesman Lt. Michael Fleming described the crowd as "out of control" and the scene as "utter chaos." He said Wal-Mart did not have enough security onhand. Fleming said criminal charges were possible but that it would be difficult to identify individual shoppers in surveillance videos. Items on sale at the Wal-Mart store included a $798 Samsung 50-inch Plasma HDTV, a Bissel Compact Upright Vacuum for $28 and Men's Wrangler Tough Jeans for $8.

The Long Island store reopened at 1 p.m. and was packed within minutes. "I look at these people's faces and I keep thinking one of them could have stepped on him," said one employee. "How could you take a man's life to save $20 on a TV?"
| Signs of the Times | America | Economic Crisis |

The Bible said in the end times the love of many would grow cold and this along with other stories are prime examples of this. Now imagine if the financial situation gets worse and it isn't just good deals for Christmas, but survival with food and water? What about the mark of the beast? How many will gladly accept the new system if not doing so means not being able to buy or sell? True this is only one place and time, but there are much harder times coming according to scripture and the attitudes expressed above are even more frightening in these conditions. With a "look out for number one culture," how quickly will many turn? The attitude behind this and other less deadly stampedes is, "I want to get that great deal before it's taken by everyone else." At what cost?

Many care more about themselves than others. In contrast, Yeshua came to give His life for the whole world, John 15:9-21, and this self-centeredness shows a spirit of antichrist - or opposition to the spirit of Christ. We all battle against our human nature, let us continue to look more at the life of Christ and model ourselves after His example of selfless love for others. This is part of our testimony in a selfish world. It is how we are a light in a dark world and how we are set apart from the surroundings because much of the world is not about acting selflessly for others. Let us be a reflection of God's love for His glory.

Hurricane Season Blows Away Records Associated Press (November 27, 2008) - The 2008 Atlantic hurricane season, which ends Sunday, seemed to strike the United States and Cuba as if on redial, setting at least five weather records for persistence and repeatedly striking the same areas. "It was pretty relentless in a large number of big strikes," said Georgia Tech atmospheric sciences professor Judith Curry. "We just didn't have the huge monster where a lot of people lost their lives, but we had a lot of damage, a lot of damage."

Data on death and damage are still being calculated, but the insurance industry recorded at least $10.6 billion in losses this hurricane season. That includes $8.1 billion in insured damage from Hurricane Ike, which ranked as the seventh most expensive catastrophe in the United States history, according to Mike Barry of the Insurance Information Institute in New York.

Three records showed the hurricane season's relentlessness. Six consecutive named storms — Dolly, Edouard, Fay, Gustav, Hanna and Ike — struck the U.S. mainland, something that had not been seen in recorded history. It's also the first time a major hurricane, those with winds of at least 111 mph, formed in five consecutive months, July through November. And Bertha spun about for 17 days, making it the longest lived storm in July.

Two records involve storms hitting the same places repeatedly. Rain-heavy Fay was the only storm to hit the same state — Florida — four times, leaving heavy flood damage in its wake. A record three major hurricanes smacked Cuba: Gustav, Ike and Paloma.

Upper air currents helped storms get bigger and focused them into a few places — Cuba and the U.S. Gulf Coast — said Gerry Bell, the top hurricane forecaster at the National Oceanic and Atmospheric Administration's Climate Prediction Center. Five of the six storms that hit the United States this season struck the Gulf Coast. And that repeat-tracking of storms to the same place — and with it increased likelihood of landfall — is typical of years when the hurricane season is on overdrive, like this year, Bell said.

This year wasn't the busiest ever. It merely tied for the fourth most named storms in history with 16. The 2005 season shattered all records with 28 tropical storms and hurricanes. The 2008 season was busy largely because of the natural cycles of high and low storm activity that last anywhere from 25 to 40 years. "This one started in 1995. Based on the historical record, we're right in the middle of an active era," Bell said. An average season has 11 named storms, six of which become hurricanes. This year there were eight hurricanes, of which five - Bertha, Gustav, Ike, Omar and Paloma — became major hurricanes. Three of those — Gustav, Ike and Paloma — made "extreme" Category 4, where winds have to be at least 131 mph. "That's a lot," Bell said. "But it's typical of a very active season such as what we saw."

Curry said this year's large number of Category 4 storms indicates a "signal" of global warming. But Bell said the science is not quite clear on that. At the National Hurricane Center one thing is clear. Meteorologist and spokesman Dennis Feltgen said: "We're glad it's over."
| America | Earth Changes |

The Famine of 2009 Daily Kos (November 27, 2008) - Last week I received a very concerned call from South Dakota farmer and agronomist Bryan Lutter. "Neal, we're out of propane!" I figured this was personal distress – he and his family farm over three square miles of land and I know this has been a tough year for many people. He promptly corrected my misconception when I tried to console him. "No, everybody is out, all three grain elevators, we can't get fuel for the bins, and we're coming in real wet this year."

There are equally dramatic issues due to the bankruptcy of Verasun and the apparent insolvency of the nation's largest private crop insurance program. Payments that would have come in June or July of a normal year are still not dispersed at the end of November and this has grim implications for next year's crop.

I started digging into the details and unless I'm badly mistaken people are going to be starving in 2009 over causes and conditions being set down right now. It's a complex, interlocking issue, and I hope I've done a good job explaining it below the fold ...

(I just submitted my personal story and a vision for the nation at change.gov - I sure hope someone is listening over there.)

The Dakotas have faced fuel restrictions for at least the last two years. They're at the far end of the pipeline network and after complete outages in 2007 everyone orders their diesel well in advance. Vehicle tanks are kept fuller and the on farm tanks are not allowed to run low. Gasoline supply dynamics have changed as well; British Petroleum shuttered three hundred stations in the area, citing the high cost of trucking fuel to the locations from the pipeline terminals.

This year propane is in short supply. Rural homes in that part of the world are heated with propane and the grain elevator and on farm drying require it to bring corn moisture down for storage. There is no sense that homes will go cold this year, at least not due to supply issues; the grain drying season is a short period of intense usage that will draw to an end within the next week. Pray to whatever higher power you recognize that the unheard of figure of 18% of the crop still in the field is brought in before the snow flies.

The Dakotas were very wet this year and the corn is coming in at 22% moisture. A more usual number would be 18% and for long term storage it must be dried to 14% to avoid spoilage. That doubling in the moisture reduction needed, an 8% drop instead of 4%, pretty much doubles the amount of propane used. Right now the harvest is at a dead stop. What can be dried has been and what is left can't even be combined without the fuel to make it ready for storage; it would all just spoil in the bin if put up wet.

I wondered if this was a spot problem in that particular part of South Dakota, but Bryan said it was widespread – he'd talked to farmers as far away as St. Louis and they were reporting similar issues.I made a few calls to try to figure out how broad the problem was. I ended up talking to Rollin Tiefenthaler at fuel dealer Al's Corner in Carroll, Iowa about the issue.

The Iowa crop comes matures earlier and is brought in earlier, so that is done, but he confirms that propane is being trucked long distances because local terminals have outages. They did have one farmer's cooperative run out of propane and they scrambled to get them enough, but in general it wasn't a problem. These are plains cooperatives, operations with thirty employees, dozens of vehicles, and tens of millions of dollars in inventory and commodities under management, so one running out of fuel is a problem that would affect a whole county.

Diesel has been a bigger concern for them – instead of the thirty mile drive to the Magellan pipeline terminal in Milford they're running as far as Des Moines or Omaha, each about two hours away, and the added time and cost for running more trucks is eating them alive.

The die has already been cast in the Dakotas, they'll either get the crop in or they won't. If they don't and it winters in the field they not only lose 40% of the yield on that ground they lose 20% of next year's yield in soy beans. The corn makes an excellent snow fence, trapping drifts six feet high, and they're slow to clear in the spring. The farmers have to wait until it's dry enough to plant before they can finish bringing in the corn crop, then they plant their soy, and that delay cuts into the growing degree days available for the soy beans and thusly we see the yield drop.

A few of you might not be from farm state and thusly won't know the normal work flow. The corn crop is still partially in the field, but the soy beans are already done. Soy matures and dries earlier, so it gets tended first. There would never been an instance of soy being left to overwinter just based on crop timing and I don't think the small, thin stocks with relatively fragile pods would prove to be terribly durable under snow banks.

I wrote earlier about the famine potential we face due to the underfertilization of the wheat crop. Wheat that gets enough ammonia is 14% protein, if it is unfertilized closer to 8%, and that 43% reduction in total plant protein is going to cause unimaginable suffering in places like Egypt, where half of the population gets subsidized bread. Global end of season per capita wheat stocks have been about seventy pounds my entire life, except the last three years where they've dropped to only forty pounds. One mistake in this area and one of the four horsemen gets loose, certainly dragging his brothers along behind. That mistake may already have been made in the lack of wheat fertilization this fall.

The fall nitrogen fertilizer application has been 10% of the norm. A typical year would see 50% put on in the fall and 50% in the spring. During fertilizer application season the 3,100 mile national ammonia pipeline network runs flat out and the far points on the network experience low flow both fall and spring. If they try to jam 90% of the fertilization into a period of time when the system can only flow a little more than half of the need much of our cropland will go without in the spring of 2009.

Finances as much as weather are the issue with regards to fertilization this fall. Crop prices have fallen to half of what they were, ammonia prices have dropped but ammonia suppliers here, receiving 75% of their supply from overseas, still have product in their storage tanks purchase at the historical highs last spring and summer.

When farmers plant they record the acreage and they purchase crop insurance - $20 to $40 an acre depending on the crop. If they have a failure they file a claim, an adjustor contacts them, and they get a check to cover the deficit. Some of this runs through the U.S. Department of Agriculture and some of it is through private insurers.

My conversations with farmers earlier this week lead me to believe that the largest private insurer, Des Moines Iowa's Rain and Hail Agricultural Insurance may be insolvent. Flooding claims from this spring were filed and payments would have typically been received by the end of June or beginning of July. It's now the end of November and payments are not being dispersed. Individual farmers are told there was something wrong with their paperwork, but this is nonsense – some of these guys have been farming thirty years and they all didn't forget how to fill out a simple form all at the same time. Iowa did have its second five hundred year flood in a decade and a half this spring which certainly has something to do with the situation, but I suspect Wall Street's sticky fingers got hold of Rain & Hail's assets, just as they've done to every pension fund and state run municipal investment pool.

So, we're already facing what Bryan Lutter calls "the mother of all fertilizer shortages" next spring and on top of that local banks won't lend to farmers.

The local bank was quite willing to lend to a farmer on a crop despite the weather related risks just like they'd lend on a car despite the driving risks. So long as the asset was insured the risk was deemed manageable. There were sure to be losses here and there, but they'd be administrative hassles associated with well known risks. If the auto insurance companies were viewed as untrustworthy no one would be getting a car without 100% down at the dealership and the same rule is now in effect for farmers.

Farmers without financing can't afford nitrogen fertilizer at $1,000 a ton, which translates to $100 an acre at current application rates. They won't be paying $300 for a bag of 80,000 hybrid corn kernels, again a $100 per acre expense. The average farm size in Iowa is four hundred acres and planting to harvesting would run about $120,000.

This looks incredibly bad. Bryan and I are both puzzled as to why the mainstream media isn't covering this. Perhaps the need to sell Christmas season advertising trumps the need for the public to know about the troubles that are brewing.

This is already 1,600 words and I haven't even touched Verasun. Executive summary? The nation's second largest ethanol maker took corn from farmers, went bankrupt without paying many of them, and a whole lot of family farms are going to be foreclosed upon in short order if something isn't done.
| America | Earth Changes | 3rd Seal |

HOLLY NOTE: Weather, as we have warned for the past year has taken a terrible toll on crops. Floods, hail and tornadoes hammered America's breadbasket. Drought is killing California's huge agriculture belt and hitting crops in the Southeast this year. Decimated bee populations added to crop decline. Grain reserves are non-existent. Compounding matters, fuel, seed and equipment have all risen sharply in recent years.

Daily news address rampant concerns over rice, wheat, corn and soybean shortages. And now food rationing and hoarding is creeping into reality... Riots and food protests have already hit many nations: South Africa, Pakistan, Lebanon, Gaza, Kenya, Nicaragua, Mexico, Bahrain, the Emirates, Italy, Russia, Indonesia, Egypt in addition to Haiti, Cameroon, Senegal, the Ivory Coast, Mauritania, Bolivia, Peru, Thailand, Somali, Ethiopia, Burkina Faso, Uzbekistan, Yemen, India, and the Philippines. After the Mexican tortillas riots last year, corn tortillas prices rose another 18%. Despite lower fuel prices at the pump, food prices are expected to rise in 2009.

With food shortages threatening to become the biggest crisis of the 21st century, you can bet food riots are coming to America. In fact, top trend forecaster, Gerald Celente, warns on coming US food riots.

Stock up now - buy in bulk - and pack for long-term storage grain products, flour, rice, beans, powdered milk and any other foods you regularly consume. The longer you delay, prices are only going to escalate, your options will dwindle, along with selection. Please do this before your options close. When reading news articles, it is our hope you'll read beyond the headlines and hear the unspoken message - a quiet urging to prepare.

The Truth behind the Citigroup Bank "Nationalization" 321 Gold (November 26, 2008) - On Friday November 21, the world came within a hair's breadth of the most colossal financial collapse in history according to bankers on the inside of events with whom we have contact. The trigger was the bank which only two years ago was America's largest, Citigroup. The size of the US Government de facto nationalization of the $2 trillion banking institution is an indication of shocks yet to come in other major US and perhaps European banks thought to be 'too big to fail.'

The clumsy way in which US Treasury Secretary Henry Paulson - himself not a banker but a Wall Street 'investment banker', whose experience has been in the quite different world of buying and selling stocks or bonds or underwriting and selling same - has handled the unfolding crisis has been worse than incompetent. It has made a grave situation into a globally alarming one.

'Spitting into the wind'

A case in point is the secretive manner in which Paulson has used the $700 billion in taxpayer funds voted him by a labile Congress in September. Early on, Paulson put $125 billion in the nine largest banks, including $10 billion for his old firm, Goldman Sachs. However, if we compare the value of the equity share that $125 billion bought with the market price of those banks' stock, US taxpayers have paid $125 billion for bank stock that a private investor could have bought for $62.5 billion, according to a detailed analysis from Ron W. Bloom, economist with the US United Steelworkers union, whose members as well as pension fund face devastating losses were GM to fail.

That means half of the public's money was a gift to Paulson's Wall Street cronies. Now, only weeks later, the Treasury is forced to intervene to de facto nationalize Citigroup. It won't be the last.

Paulson demanded, and got from a labile US Congress, Democrat as well as Republican, sole discretion over how and where he can invest the $700 billion, to date with no effective oversight. It amounts to the Treasury Secretary in effect 'spitting into the wind' in terms of resolving the fundamental crisis.

It should be clear to any serious analyst by now that the September decision by Paulson to defer to rigid financial ideology and let the fourth largest US investment bank, Lehman Brothers fail, was the proximate trigger for the present global crisis. Lehman Bros.' surprise collapse triggered the current global crisis of confidence. It was simply not clear to the rest of the banking world which US financial institution bank might be saved and which not, after the Government had earlier saved the far smaller Bear Stearns, while letting the larger, far more strategic Lehman Bros. fail.

Some Citigroup details

The most alarming aspect of the crisis is the fact that we are in an inter-regnum period when the next President has been elected but cannot act on the situation until after January 20, 2009 when he is sworn in.

Consider the details of the latest Citigroup government de facto nationalization (for ideological reasons Paulson and the Bush Administration hysterically avoid admitting they are in the process of nationalizing key banks). Citigroup has more than $2 trillion of assets, dwarfing companies such as American International Group Inc. that got some $150 billion in US taxpayer funds in the past two months. Ironically, only eight weeks before, the Government had designated Citigroup to take over the failing Wachovia Bank. Normally authorities have an ailing bank absorbed by a stronger one. In this instance the opposite seems to have been the case. Now it is clear that the Citigroup was in deeper trouble than Wachovia. In a matter of hours in the week before the US Government nationalization was announced, the stock value of Citibank plunged to $3.77 in New York, giving the company a market value of about $21 billion. The market value of Citigroup stock in December 2006 had been $247 billion. Two days before the bank nationalization the CEO, Vikram Pandit had announced a huge 52,000 job slashing plan. It did nothing to stop the slide.

The scale of the hidden losses of perhaps the twenty largest US banks is so enormous that if not before, the first Presidential decree of President Barack Obama will likely have to be declaration of a US 'Bank Holiday' and the full nationalization of the major banks, taking on the toxic assets and losses until the economy can again function with credit flowing to industry once more.

Citigroup and the government have identified a pool of about $306 billion in troubled assets. Citigroup will absorb the first $29 billion in losses. After that, remaining losses will be split between Citigroup and the government, with the bank absorbing 10% and the government absorbing 90%. The US Treasury Department will use its $700 billion TARP or Troubled Asset Recovery Program bailout fund, to assume up to $5 billion of losses. If necessary, the Government's Federal Deposit Insurance Corporation (FDIC) will bear the next $10 billion of losses. Beyond that, the Federal Reserve will guarantee any additional losses. The measures are without precedent in US financial history. It's by no means certain they will salvage the dollar system.

The situation is so intertwined, with six US major banks holding the vast bulk of worldwide financial derivatives exposure, that the failure of a single major US financial institution could result in losses to the OTC derivatives market of $300-$400 billion, a new IMF working paper finds. What's more, since such a failure would likely cause cascading failures of other institutions. Total global financial system losses could exceed another $1,500 billion according to an IMF study by Singh and Segoviano. Read full story...

The madness over a Detroit GM rescue deal

The health of Citigroup is not the only gripping crisis that must be dealt with. At this point, political and ideological bickering in the US Congress has so far prevented a simple emergency $25 billion loan extension to General Motors and other of the US Big Three automakers-Ford and Chrysler. The absurd spectacle of US Congressmen attacking the chairmen of the Big Three for flying to the emergency Congressional hearings on a rescue loan in their private company jets while largely ignoring the issue of consequences to the economy of a GM failure underscores the utter lack of touch with reality that has overwhelmed Washington in recent years.

For GM to go into bankruptcy risks a disaster of colossal proportions. Although Lehman Bros., the biggest bankruptcy in US history, appears to have had an orderly settlement of its credit defaults swaps, the disruption occurred before-hand, as protection writers had to post additional collateral prior to settlement. That was a major factor in the dramatic global market selloff in October. GM is bigger by far, meaning bigger collateral damage, and this would take place when the financial system is even weaker than when Lehman failed.

In addition, a second, and potentially far more damaging issue, has been largely ignored. The advocates of letting GM go bankrupt argue that it can go into Chapter 11 just like other big companies that get themselves in trouble. That may not happen however, and a Chapter 7 or liquidation of GM that would then result would be a tectonic event.

The problem is that under Chapter 11 US law, it takes time for the company to get the protection of a bankruptcy court. Until that time, which may be weeks or months, the company would need urgently 'bridge financing' to continue operating. This is known as 'Debtor-in-Possession or DIP financing. DIP is essential for most Chapter 11 bankruptcies, as it takes time to get the plan of reorganization approved by creditors and the courts. Most companies, like GM today, go to bankruptcy court when they are at the end of their liquidity.

DIP is specifically for companies in, or on the verge of bankruptcy, and the debt is generally senior to other outstanding creditor claims. So it is actually very low risk, as the amount spent is usually not large, relatively speaking. But DIP lending is being severely curtailed right now, just when it is most needed, as healthier banks drastically cut loans in the severe credit crunch situation.

Without access to DIP bridge financing, GM would be forced into a partial, or even a full liquidation. The ramifications are horrendous. Aside from loss of 100,000 jobs at GM itself, GM is critical to keep many US auto suppliers in business. If GM failed soon most, possibly even all of the US and even foreign auto suppliers will go under. Those parts suppliers are important to other auto makers. Many foreign car factories would be forced to close due to loss of suppliers. Some analysts put 2009 job losses from a GM failure as high as 2.5 million jobs due to the follow-on effects. If the impact of that 2.5 million job loss is seen in terms of the overall losses to the economy of non-auto jobs such as services, home foreclosures caused and such, some estimate total impact would be more than 15 million jobs.

So far in the face of this staggering prospect, the members of the US Congress have chosen to focus on the fact the GM chief, Rick Wagoner, flew in his private company jet to Washington. The Congressional charade conjures up the image of Nero playing his fiddle as Rome goes up in flames. It should not be surprising that at the recent EU-Asian Summit in Beijing, Chinese officials mooted the idea of trading between the EU and Asian nations such as China in Euro, Renminbi, Yen or other national currencies other than the dollar. The Citigroup bailout and GM debacle has confirmed the death of the post-1944 Bretton Woods Dollar System.

The real truth behind Citigroup bailout

What neither Paulson nor anyone in Washington is willing to reveal is the real truth behind the Citigroup bailout. By his and the Republican Bush Administration's adamant earlier refusal to take an initial resolute action to immediately nationalize the nine or so largest troubled banks, he has created the present debacle. By refusing on ideological grounds to instead reorganize the banks' assets into some form of 'good bank' and 'bad bank,' similar to what the Government of Sweden did with what it called Securum, during its banking crisis in the early 1990's, Paulson and company have created a global financial structure on the brink.

A Securum or similar temporary nationalization would have allowed the healthy banks to continue lending to the real economy so the economy could continue operating, while the State merely sat on the undervalued real estate assets of the Swedish banks for some months until the recovering economy made the assets again marketable to the private sector. Instead, Paulson and his 'crony capitalists' in Washington have turned a bad situation into a globally catastrophic one.

His apparent realization of the error of his initial refusal to nationalize came too late. When Paulson reversed policy on September 19 and presented the nine largest banks with an ultimatum to accept partial Government equity ownership, abandoning his original bizarre plan to merely buy up the toxic waste asset-backed securities of the banks with his $700 billion TARP taxpayer money, he never revealed why.

Under the original Paulson Plan, as Dimitri B. Papadimitriou and L. Randall Wray of the Jerome Levy Institute at Bard College in New York point out, Paulson sought to create a situation in which the US 'Treasury would become an owner of troubled financial institutions in exchange for a capital injection-but without exercising any ownership rights, such as replacing the management that created the mess. The bailout would be used as an opportunity to consolidate control of the nation's financial system in the hands of a few large (Wall Street) banks, with government funds subsidizing purchases of troubled banks by "healthy" ones.'

Paulson soon realized the scale of crisis, largely triggered by his inept handling of the Lehman Brothers case, had created an impossible situation. Were Paulson to use the $700 billion to buy up toxic waste ABS assets from the select banks at today's market price, the $700 billion would be far too little to take an estimated $2 trillion ($2,000 billion) in Asset Backed Securities off the books of the banks.

The Levy Economics Institute economists state, 'It is probable that many and perhaps most financial institutions are insolvent today -- with a black hole of negative net worth that would swallow Paulson's entire $700 billion in one gulp.'

That reality is the real reason Paulson was forced to abandon his original 'crony bailout' TARP plan and opt to use some of his money to buy equity shares in the nine largest banks.

That scheme as well is 'dead on arrival' as the latest Citigroup nationalization scheme underscores. The dilemma Paulson has created with his inept handling of the crisis is simple: If the US Government paid the true value for these nearly worthless assets, the banks would have to write down huge losses, and, as Levy economists put it, 'announce to the world that they are insolvent.' On the other hand, if Paulson raised the toxic waste purchase price high enough to protect the banks from losses, $700 billion 'will buy only a tiny fraction of the 'troubled' assets.' That is what the latest nationalization of Citigroup is about.

It is only the beginning. The 2009 year will be one of titanic shocks and changes to the global order of a scale perhaps not experienced in the past five centuries. This is why we should speak of the end of the American Century and its Dollar System.

How destructive that process will be to the citizens of the United States who are the prime victims of Paulson's crony capitalists, as well as to the rest of the world depends now on the urgency and resoluteness with which heads of national Governments in Germany, the EU, China, Russia and the rest of the non-US world react. It is no time for ideological sentimentality and nostalgia of the postwar old order. That collapsed this past September along with Lehman Brothers and the Republican Presidency. Waiting for a 'miracle' from an Obama Presidency is no longer an option for the rest of the world.

| NewWorldOrder | America | Economic Crisis |

PM: Peace deal with Palestinians soon The Jerusalem Post (November 26, 2008) - It will soon be possible to reach a peace agreement with the Palestinians, Prime Minister Ehud Olmert said Tuesday, the morning after a farewell visit with US President George W. Bush and other administration officials who conceded a deal was not likely to materialize in the short term. "In principle there is nothing to prevent us from reaching an agreement on the core issues in the near future," Olmert said during a briefing with Israeli reporters. "I believe it is possible. I believe it is timely. A declaration is needed. I am ready to make it. I hope the other side is."

He also stressed the US had not tied Israel's hands when it came to military operations in the waning days of the Bush administration, despite media reports to the contrary. "I don't remember that anyone in the administration, including the last couple of days, advised me or any of my official representatives not to take any action which we will deem necessary for the fundamental security of Israel, and that includes Iran," he said, in response to a question from The Jerusalem Post. He pointed to conversations with Bush and his deputies who are "so open, so candid, so personal, that they can say to me anything they feel, and they do... This was not one of the things they said."

Speaking generally about his meetings with Bush, Vice President Dick Cheney, Secretary of State Condoleezza Rice and others, Olmert also said, "There is a deep, basic understanding between us about the Iranian threat and the need to act in order to remove that threat." There has been speculation that if Israel were going to attack Iran's nuclear sites it would do so before President-elect Barack Obama takes office on January 20. Time magazine also reported that the US had told Israel to refrain from a major invasion of Gaza, despite renewed rocket fire from the Strip, so as not to disrupt peace talks.

But when it came to the Palestinians, during the briefing and in remarks before his meeting with Bush, Olmert focused on the possibility of reaching an agreement rather than on the renewed violence. The prime minister said there wouldn't be any written declaration of principles or other document spelling out the intermediate steps taken and agreements reached to date to prepare for a new American administration, because he was looking for a comprehensive peace deal. "You don't need months to make a decision," he said, noting the two years of intensive meetings with the Palestinians that he's overseen. Read full story...

Ahead of their meeting and private dinner Monday night, Bush also focused on the peace process. "We strongly believe that Israel will benefit by having a Palestinian state, a democracy on her border that works for peace," the president said, sitting beside Olmert in the Oval Office. "That vision is alive because of you."

The two leaders exchanged expressions of friendship and appreciation, with Olmert praising Bush for removing the threat of Iraqi leader Saddam Hussein from Israel's eastern front. But Rice acknowledged earlier this month that the goal of a peace deal by the end of 2008, set at the Annapolis conference officially launching negotiations last year, was unachievable. Still, the subject was a major focus of Olmert's discussions with the secretary of state. "There are a number of issues that Prime Minister Olmert and the secretary discussed, obviously the Annapolis process being the key element," said Deputy State Department spokesman Robert Wood after their meeting Tuesday. It was a follow-up to talks Olmert held with Rice and National Security Adviser Stephen Hadley a day earlier.

Olmert also said the economic crisis was a key point of discussion, though he didn't expect it to affect the $30 billion in military aid Israel is slated to receive from the US over the next decade. "We have an agreement with the United States for 10 years and no one has any doubts that it will be fulfilled," Olmert said. "America is wealthy, powerful and has integrity. No one has hinted this is up for discussion."

He said the meetings also didn't touch on talk that the US might open a low-level interests section in Teheran to reenergize diplomatic efforts to limit its nuclear program. "This government has no interest in relations with Iran," Olmert said. Though Obama has indicated he favors engagement with the Islamic republic, Olmert said Israel would wait to see what he proposed before reacting. He said Obama shared the position that a nuclear-armed Iran was unacceptable.

Olmert didn't speak with Obama while in the US, noting that Obama has pointed out that there's only one president at a time and that meeting with foreign leaders wouldn't be appropriate at this point. But the prime minister did speak to Obama by phone soon after his victory to congratulate him, reporting that "there's a comprehensive and orderly transition [being prepared], and this includes on issues related to Israel." Obama has called for more intense efforts to promote the Israeli-Palestinian peace process and pledged not to wait until late in his term, as Bush did, to step up engagement on the issue.

In his conversation with reporters, Olmert also made the case for a resolution to the Israeli-Palestinian conflict. "The dispute is not between continuing the status quo or a two-state solution," he warned. "The dispute is between a two-state solution and the emergence of a new narrative - of one state."

| Israel | Islam | Dividing the Land | America |

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit Bloomberg (November 24, 2008) - The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.

The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.

When Congress approved the TARP on Oct. 3, Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson acknowledged the need for transparency and oversight. Now, as regulators commit far more money while refusing to disclose loan recipients or reveal the collateral they are taking in return, some Congress members are calling for the Fed to be reined in.

“Whether it’s lending or spending, it’s tax dollars that are going out the window and we end up holding collateral we don’t know anything about,” said Congressman Scott Garrett, a New Jersey Republican who serves on the House Financial Services Committee. “The time has come that we consider what sort of limitations we should be placing on the Fed so that authority returns to elected officials as opposed to appointed ones.”

Too Big to Fail

Bloomberg News tabulated data from the Fed, Treasury and Federal Deposit Insurance Corp. and interviewed regulatory officials, economists and academic researchers to gauge the full extent of the government’s rescue effort.

The bailout includes a Fed program to buy as much as $2.4 trillion in short-term notes, called commercial paper, that companies use to pay bills, begun Oct. 27, and $1.4 trillion from the FDIC to guarantee bank-to-bank loans, started Oct. 14.

William Poole, former president of the Federal Reserve Bank of St. Louis, said the two programs are unlikely to lose money. The bigger risk comes from rescuing companies perceived as “too big to fail,” he said.

‘Credit Risk’

The government committed $29 billion to help engineer the takeover in March of Bear Stearns Cos. by New York-based JPMorgan Chase & Co. and $122.8 billion in addition to TARP allocations to bail out New York-based American International Group Inc., once the world’s largest insurer.

Citigroup received $306 billion of government guarantees for troubled mortgages and toxic assets. The Treasury Department also will inject $20 billion into the bank after its stock fell 60 percent last week.

“No question there is some credit risk there,” Poole said.

Congressman Darrell Issa, a California Republican on the Oversight and Government Reform Committee, said risk is lurking in the programs that Poole thinks are safe.

“The thing that people don’t understand is it’s not how likely that the exposure becomes a reality, but what if it does?” Issa said. “There’s no transparency to it so who’s to say they’re right?”

The worst financial crisis in two generations has erased $23 trillion, or 38 percent, of the value of the world’s companies and brought down three of the biggest Wall Street firms. Read full story...

| NewWorldOrder | America | Economic Crisis |

Martin Hennecke - US May Lose Its 'AAA' Rating CNBC (November 10, 2008)

| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

A quick question... If the Dollar were to become obsolete and indeed currency collapsed all over the world and a new economic system were developed to eliminate the fraud, waste and abuse while ensuring security and a smooth transition from individual currencies, would you sign on? What if doing so required a "pledge of allegiance" of sorts to participate?

Revelation 13:11-18
And I beheld another beast coming up out of the earth; and he had two horns like a lamb, and he spake as a dragon. And he exerciseth all the power of the first beast before him, and causeth the earth and them which dwell therein to worship the first beast, whose deadly wound was healed. [Revelation 17] And he doeth great wonders, so that he maketh fire come down from heaven on the earth in the sight of men, And deceiveth them that dwell on the earth by the means of those miracles which he had power to do in the sight of the beast; saying to them that dwell on the earth, that they should make an image to the beast, which had the wound by a sword, and did live. And he had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed. And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: 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. 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.

What if signs and wonders were added to the mix and a world desperate for the spirituality drained from them through "modern science" calling into question God's Word, the mystery of iniquity, they came to worship another "savior" in a more physical and temporal sense that tickled their ears with self-satisfying words?

What if global economic collapse were to be a catalyst for a further globalization and acceptance of it, in addition to other catalysts, bringing the world further under the control of the man of sin?

What if I'm just crazy? What if I'm not. See if the world clamors for more government control while power consolidation continues... Watch!

Facts About Tax: Socialism, Christianity, and Taxation By Steven F. Hotze, M.D. www.AmericanVision.org Zola Levitt Newsletter (December 2008) - There are two competing worldviews in the United States: socialism and Christianity.

Socialism is a system where the State controls capital and production, plans the economy and redistributes wealth from producers to non-producers. It breeds a welfare environment where citizens become dependent upon the State for their daily bread. Individual liberties are replaced with the “common good,” decided by bureaucrats. In socialism, the State claims to be the sovereign authority, demanding people’s homage. Socialistic States are secular and have great disdain for Christianity which rejects this philosophy. Socialism is a de facto secular religious system which elevates the State to the position of God. Remember, the Romans proclaimed, “Vox populi, Vox Dei,” meaning “The voice of the people is the voice of God.”

Christianity acknowledges the sovereignty of God revealed in the Bible and through the person of the Lord Jesus Christ. Christianity proclaims liberty under law. It encourages personal responsibility and initiative. Proverbs instructs that, “The hand of the diligent shall prosper.” The concept of private property is firmly established by the 8th Commandment, “Thou Shalt Not Steal.” Christianity teaches that all government authority is established by God and that civil rulers must govern according to a higher law. This was the perspective of our founding fathers. George Washington wrote, “It is impossible to rightly govern the world without God and the Bible.” Yet politicians increasingly choose socialism over our Christian heritage. Nowhere is this more evident than in taxation. The Bible teaches tithing ten percent of your income to the Church and Christian ministries as acknowledgment that all that we have comes from God’s providential hand.

The socialist State claims ownership over citizens and their possessions by taxing their income and property. Even after you have paid off your mortgage, if you stop paying property taxes, you will find out who really owns your home. The United States has adopted a socalled “progressive” income tax policy. As income increases, the percentage of income subject to taxes rises. Those who earn the most pay the highest percentage of their income in taxes. According to the Congressional Budget Office the top 1% of income earners pays nearly 40% of the total income taxes collected by the federal government. The top 10% of income earners pay nearly 70% of the total income taxes collected. The top 40% of income earners pay 99% of all income taxes.

This means 60% of the people pay no income tax. Yet the socialists reward them with government programs. What is progressive about a system which penalizes individuals who strive to be successful? If you tax productivity, you get less of it. If you subsidize laziness, you get more of it. The socialists promote organized theft of the producers—under the guise of good government—and redistribute their money to buy the votes of the nonproductive, disincentivizing both groups.

We have a critical choice to make: Follow socialism and lose our liberty and property, or return to our nation’s Christian heritage.
| America |

See also: Socialism, Capitalism and Christianity

Clinton would be well seen abroad as US top diplomat: Solana EU Business (November 22, 2008) - If US president-elect Barack Obama names Hillary Clinton as his secretary of state, it will be "very well taken" in Europe, EU foreign policy chief Javier Solana said Friday. "It would be very well taken, if it were the case," Solana told reporters during a visit to Washington where he met with Obama representative Madeleine Albright. "She is a strong personality. She is an appropriate person, capable, with experience, well known. I think it would be very well taken by the majority of people," Solana said.

An aide to Obama said the president-elect is "on track" to nominate his former bitter foe to the prize post of secretary of state after next week's Thanksgiving holiday. The nomination, the subject of intense speculation since Clinton flew to Chicago to meet Obama last week, moved forward after financial disclosure issues were worked out with her husband, former president Bill Clinton. There will be no formal announcement before the holiday break which starts on Thursday November 27, the Obama aide said on condition of anonymity, adding the president-elect was still firming up his national security line-up.

New York Senator Clinton and Obama, who slugged it out during an acrimonious six-month Democratic primary campaign, were having substantive discussions about her future role, the aide said.

Signs the Clinton nomination could be firming up followed conflicting reports, some suggesting the Obama team was frustrated with the Clinton camp, others saying Clinton was agonizing over whether to give up her Senate seat. But details of the nominating process have been tightly held by both sides and it was unclear if any or all of the unnamed sources were speaking with authority for the two protagonists.
| EU/UN / 4th Kingdom | Solana | NewWorldOrder | America |

Hillary Clinton accepts post as Secretary of State Telegraph UK (November 22, 2008) - Senator Hillary Clinton has accepted Barack Obama's offer to become US Secretary of State, as the president-elect moved at rapid speed to assemble an all-star cabinet amid steep challenges at home and overseas.

Friends of the former First Lady told American news organisations that she had firmly decided to give up her seat as a senator for New York and become the international face of the man who thwarted her presidential ambitions in a long and sometimes bitter battle for the Democratic Party's nomination.

Other reports said Mr Obama will nominate Timothy Geithner, 47, as his Treasury Secretary. As head of the New York federal reserve bank he has been involved with the $700 billion bail-out of Wall Street, which he will take charge of if confirmed. As a former treasury official, Mr Geithner has invaluable Washington experience and will be considered a wise choice. Stocks soared as news of his appointment reached Wall Street. He will probably be joined around the cabinet table by Bill Richardson, the New Mexico governor, who has been reportedly selected as commerce secretary after losing out to Mrs Clinton as secretary of state, the most prestigious job beneath the presidency.

With Mr Obama likely to name his economic team in full within a few days, and Mrs Clinton's decision clearing the way for other foreign policy posts to be filled, he is set to complete many of the most important slots in his administration at uncommonly early stage. His choices for the positions of health secretary, attorney general and homeland security are Tom Daschle, Eric Holder, and Janet Napolitano, respectively, though they remain subject to approval by his vetting team.

Though news about some appointments has leaked out, to the frustration of the Obama camp, his transition from winning candidate to president is proceeding at a pace and with a smoothness that has impressed political observers. Mr Obama and his aides have understood that with the financial markets very jittery and economic confidence subsiding a calm and orderly changeover was paramount.

His administration will feature veterans of the Bill Clinton administration and politicians rewarded for their early support of during the primaries, such as Mr Richardson, Janet Napolitano, the Arizona governor tipped to become head the Homeland Security Department and Tom Daschle, who will run health.

His recruitment of Mrs Clinton in particular honours Mr Obama's pledge to appoint an all-star cabinet, or a "team of rivals", of strong personalities who will speak their minds and provide contrasting views. But some have criticised her management skills – her new department has 19,000 employees – and questioned her foreign policy experience at a time when the country is conducting wars in Iraq and Afghanistan and facing growing pressure from Russia, Iran and China.

Obama supporters have also raised concerns that a politician with such a large power base would happily follow anyone else's orders. Some have been unable to forgive Mrs Clinton for her strong criticism of Mr Obama during the primaries, when she launched an advertisement questioning whether the nation would want such an inexperienced politician answering the White House hotline at 3am. Mrs Clinton, 61, evidently had her own doubts, and was uncertain if she should give up her Senate seat from heavily Democratic New York, which she could most likely have occupied for the rest of her career.

The only hesitation about her within the Obama camp was removed after Mr Clinton co-operated fully with the vetting team's investigation of his network of overseas donors to his global charity. The former president is understood to have promised not to conduct speaking engagements or seek funds from sources that might present a conflict of interest with the foreign policy his wife would be pursuing.

Obama’s team: Confirmed White House positions

• Chief of staff Rahm Emmanuel
• Counsel Greg Craig
• Senior adviser David Axelrod
• Senior adviser Valerie Jarrett
• White House press secretary Robert Gibbs
• Vice-President’s chief of staff Ron Klain All positions
• Confirmed pending vetting
• Secretary of State Hillary Clinton
• Treasury Secretary Timothy Geithner
• Secretary of health Tom Daschle
• Attorney-general Eric Holder
• Secretary of homeland security Janet Napolitano

| America |

A Plan for Action: Managing Global Insecurity 42-page pdf at Brookings.edu (November 21, 2008) - The Managing Global Insecurity (MGI) Project seeks to build international support for global institutions and partnerships that can foster international peace and security—and the prosperity they enable—for the next 50 years. MGI is a joint initiative among the Brookings Institution, the Center on International Cooperation at New York University, and the Center for International Security and Cooperation at Stanford University.

Since its launch in the spring of 2007, MGI has sought to develop its recommendations and conduct its work in a manner best suited to address today’s most urgent global challenges—namely, by fostering a global dialogue. In a world where 21st century transnational threats—from climate change to nuclear proliferation and terrorism—require joint solutions, discussions on these solutions must take place both inside and outside American borders. As MGI launched this ambitious but urgent agenda, the Project convened two advisory groups—one American and bipartisan, and one international. MGI’s advisors are experienced leaders with diverse visions for how the international security system must be transformed. They are also skilled politicians who understand the political momentum that must power substantive recommendations.

MGI brought these groups together for meetings in Washington D.C., New York, Ditchley Park (UK), Singapore, and Berlin. With their assistance, MGI also conducted consultations with government officials, policymakers and non-governmental organizations across Europe and in Delhi, Beijing, Tokyo, Doha, and Mexico City. MGI held meetings at the United Nations, and with African and Latin American officials in Washington D.C. and New York. On the domestic front, MGI met with Congressional and Administration officials as well as foreign policy advisors to the U.S. Presidential campaigns. Ideas generated in international consultations were tested on U.S. constituencies; ideas generated among U.S. policymakers were sounded out for their resonance internationally. American and international leaders were brought together to consider draft proposals. Through this global dialogue, the Project sought a shared path forward.

MGI’s findings also derive from extensive research and analysis of current global security threats and the performance of international institutions. MGI solicited case studies from leading regional and subject experts that evaluated the successes and failures of international responses to the “hard cases”—from the North Korean nuclear threat to instability in Pakistan and state collapse in Iraq. Both in the United States and internationally, MGI convened experts to review the Project’s threat-specific analyses and proposals.

Financial support for the MGI project has also been robustly international. In addition to the Bertelsmann Stiftung, Rockefeller Brothers Fund, Ditchley Foundation, William and Flora Hewlett Foundation, John D. and Catherine T. MacArthur Foundation and UN Foundation, MGI has received funding and in-kind support from the Royal Ministry of Foreign Affairs of Norway, the Ministry of Foreign Affairs of Finland and the Lee Kuan Yew School of Public Policy. A number of think tanks and other institutions in Japan, China and India hosted workshops to debate the Project’s findings. MGI is indebted to its diverse supporters.

MGI’s research and consultations provide the foundation for the following Plan for Action, a series of policy briefs, and MGI’s book, Power and Responsibility: International Order in an Era of Transnational Threats (forthcoming, Brookings Press 2009). The authors are solely responsible for the following analysis and recommendations. Based on MGI’s consultations, however, they are confident this is a historic opportunity for the United States to forge new partnerships to tackle the most pressing problems of this century. more detail at the link...
| EU/UN / 4th Kingdom | Solana | NewWorldOrder | America | Economic Crisis |

“The aim of the MGI [Managing Global Insecurity] project is ambitious and urgent: to launch a new reform effort for the global security system in 2009 … for the global system is in serious trouble. It is simply not capable of solving the challenges of today. You all know the list: terrorism, nuclear proliferation, climate change, pandemics, failing states … None can be solved by a single government alone.” | Javier Solana, High Representative for the Common Foreign and Security Policy, European Union; MGI Advisory Group Member

I think it is worthwhile to note that the snowball is already rolling down the hill and there are many things that can happen to advance or delay plans in the global arena. If there were a threat large enough to further the cause of the globalists, then much like the ready-fire-fire-fire-aim approach to the global financial crisis, fear could be used to get people to take immediate action not yet fully defined in the timelines already determined. Of course I believe there are some using the fear with a definite plan of action for a common goal whether they realize what they are doing or not. I believe the mystery of iniquity is well at work in the world today.

I'm brought back to the Lisbon Treaty, the new European Constitution, and the powers that will be given to the foreign minister even before it is enacted. And now polling is showing that Ireland, who previously rejected the Lisbon Treaty in their referendum, is now having second thoughts on the matter. Could these often discussed "global tests" of leadership help the birth pangs to the new global order along? Keep watching!

A Plan For Action: Renewed American Leadership And International Cooperation for the 21st Century Brookings Institute (November 20, 2008) - MR. PASCUAL: -- in his personal capacity has given us tremendous support, along with the support of the U.N. Foundation, the Ministries of Foreign Affairs of Finland and Norway, who have been great supporters throughout, the Rockefeller Brothers Foundation, the Hewlett Foundation, the MacArthur Foundation, the Ford Foundation, and in kind support that we’ve been able to get from the Bertelsmann and Ditchley Foundations, the Lee Kuan Yew School of Public Policy, and think tanks and partners in the United States and around the world.

A big thanks to so many members of the diplomatic community who are here today and participating in this session and have provided constant feedback and advice on some of this work.

I need to give great thanks to both the domestic and international advisory group that we have had as part of this project. And you’ll see them on the left hand side of the column, as well as on the Action Plan, on the inside cover that you have of the Action Plan, a tremendously distinguished group of individuals who are some of the best practitioners in the world on foreign policy, international security policy, and global governance, and we are quite honored that they are willing to give their time to advise us on this project. And among those members of the advisory group are the panelists that we have today. And it’s a pleasure to be able to introduce them in the order that they’re going to speak today.

First is Former Secretary of State, Madeleine Albright, someone who has given tremendous advice directly herself in a book called The Memo to the President, How We Can Restore America’s Reputation and Leadership.

And then Javier Solana, the European Union’s High Representative for Common, Foreign, and Security Policy. Javier is I think a personal incarnation of the world’s most effective institution of global governance, namely himself.

And then Kemal Dervis, who is the Administrator of the U.N. Development Program. Many of you also know him from his role as Minister of Economy and Treasury in Turkey and his long career at the
World Bank. And Kemal is also an author of a tremendous book called Better Globalization, Legitimacy, Governance and Reform. I should say he had the wisdom of having that published by the Brookings Institution Press, as well.

And then Tom Pickering, Former Undersecretary of State for Political Affairs. And Tom really is sort of the icon of the American Foreign Service, having been an Ambassador in more places than anyone can imagine and carrying that knowledge around with him on a constant basis.

And finally Strobe Talbott, the President of the Brookings Institution, my boss, former Deputy Secretary of State, and author of another tremendous book called The Great Experiment, the Story of Ancient Empire, Modern States, and the Quest for a Global Nation. And he also happens to be my friend and has given us tremendous advice throughout this process, and all of them have just been amazing colleagues.

We are going to have a short presentation of some of the key themes in the Action Plan to create that as a foundation for the discussion. We’ll then have the part that you really want, which is a discussion with our panelists, and have a session to interact among themselves, and then a Q and A session for the audience. It’ll be I think a fairly full two hour program, but one that will be I think extremely interesting for everybody.

This project was a joint venture among Stanford and Brookings and NYU, in part because of its complexity and the nature of the goal that we set. We begin by looking at what kinds of recommendations are necessary to create and international order in the institutions that are going to bring about prosperity and security for the world over the next 50 years...

...MS. ALBRIGHT: I’d kind of like to step back a little bit, because in listening, and also in some of my meetings over the weekend, it is clear to me that venue shopping is one of the problems here. And the question is, which of these various organizations really are the right ones?

And some of you know this, but I’ll repeat it; when I first became Secretary, I kept looking for various European Ministers and they were always in some meeting with some kind of alphabet that I didn’t know. So I asked the Intelligence and Research part of the State Department to create a chart for me of the European Organizations, and it looked like some kind of astrological or astronomical chart, and everything was on top of everything else, and I nicknamed it the Euro Mess.

The bottom line is that we can’t keep creating organizations on top of others in terms of who does what with whom. And I think this is the real challenge in terms of which of the ones that really will work, and where do you have the right players, and not so much, if I may be so bold as to say, I like this organization because I dominate it, and I don’t want to be in that one because there are too many people in it, and I do think that that is one of the challenges that we have.

The other part goes back to something, Carlos, that you were talking about. As a professor I say this, the fight between sovereignty and international action is not dead, and when you say responsible sovereignty, different people – countries will take it a different way.

I think that President Bashir thinks he’s practicing responsible sovereignty. And so the question is, how these two concepts deal with what are very real crises that are out there. So venue shopping and the struggle between sovereignty and international multi-lateral action, I think no matter how great the good will is towards President Obama, and it’s stunning, I think it’s going to continue to be an issue of how we prioritize and deal with it...

...[Regarding global governance] MR. SOLANA: I think we have discussed one of the most fascinating topics of the times. I think the European Union has something to say about this, because a group of countries that have already, in a voluntary manner, chose to live together and to share sovereignty. It’s probably the only example and going as far as taking to the connectivity – currency, which is a very, very fundamental decision.

But I think we cannot understand that without talking at the same time about legitimacy. Legitimacy is absolutely fundamental, you want to govern a complicated structure, and that remains, the legitimacy remains at the level where proximity – exist. I don’t want to enter more into that – but it’s very, very crucial, it comes from legitimacy. Now, we may agree on many, many things even within the European Union that have to do, but you may sometimes need the legitimacy – very clear, the national – to do it. And that is a reality will be very difficult to overcome.

Now, you can put into the global – into federal entity as much things as you want to transfer from the – will be always – to run into legitimacy, it will be very difficult. The problems are global, the solutions are global, the resources and the legitimacy still is global... Read Q&A excerpt...

MS. McNAMARA: I'm Sally McNamara from the Heritage Foundation. However, I'm also British and I used to work in the European Union, so I'm very interested in these comments that the E.U. is a perfect model of global governance, and I would like to tell you that the E.U. lacks any sort of legitimacy or credibility, and any time the publics are asked whether they want more Europe and whether they want a common foreign insecurity policy, they actually turn around and say no. We have had several public referenda on things like the Nice Treaty, the Maastricht Treaty, and, most recently, the Lisbon Treaty. Ireland has said no, and under the E.U.'s own rules of success, this whole thing should go away now. However, the E.U. doesn't let something like democracy get in the way of the European project. It seems to me that the Americans are far more enthusiastic for a common foreign policy than the Europeans actually are, because they want Henry Kissinger's one line to Europe. So, I encourage you to rethink your enthusiasm for the European project, considering the fact that most European peoples don't want it, that the E.U. isn't even particular popular at the moment. They have the lowest ratings that they've ever had.

MR. TALBOTT: Well, picking from the menu of the questions asked, the one -- they're all terrific questions. The one that most provokes me to answer was really directed more at Javier, but you asked me to speak first.

I disagree with our colleague from the Heritage Foundation. I didn't hear anybody of any nationality up here use the word "perfect" to describe the European Union. But I would use the following adjectives with great confidence. The European Union is the most impressive, accomplished, and promising experiment in transnational governance on the planet today, and that has been immensely good for the half billion or so people of Europe. It has taken a huge swatch of real estate, which is as bloodied as any on the planet historically, a region of the world where there was a major war every generation from the 17th century on up to the E-day, and turned it into a zone of peace. No mean accomplishment. And it has done that through what Madeleine and I jokingly called the Euro-mess. But we did not use that term contemptuously. We saw a certain beauty and wisdom in the Euro-mess, and Madeleine's predecessors once upon a time trying to call her colleagues or their colleagues and counterparts in Europe wouldn't have found them at those meetings; they would have found them on battlefields or either planning to be on battlefields.

And as for the famous Kissinger question of all those years ago when Madeleine and Tom Pickering and I were in government, we had Javier's home phone, office phone, and cell phone, and we knew who to call...

...MR. DERVIS: Well, the trouble with being on the same panel with Strobe is that I usually agree so strongly with him and he says everything I could say much better. But I do want to also touch on the Europe issue and again agree. I do believe for the main points that Strobe made in terms of the peace in Europe, the cooperation, it is a huge, human achievement which has few precedents -- I think has no precedent in fact in (inaudible), but also, more specifically, the fact that there is (inaudible) Euro, the common currency, not in all of the E.U. but in a large part of it, that you can actually -- you know, it's a tremendous achievement, countries having given up the kind of sovereignty symbol of their currency, Germany particularly, you know, which was so fond of the Deutsche Mark, and I see signs in today's financial crisis that some who are outside the Euro zone are now rethinking that maybe it's not such a bad idea to be in part of the Euro zone, given the tremendous instability of exchange rates and particularly the problem for small countries and small currencies. The issue, of course, travel -- the fact that now you can travel freely from Lisbon up to Stockholm and, you know, that there is now the beginnings of a labor market that functions on the European scale I think is a tremendous achievement. And of course coming from Turkey right across the border, being kind of in and kind of out, it makes it particularly interesting.

But I do believe nonetheless that there is a political dimension to this and that if one wants the full support of citizens, then these processes of cooperation -- and this is another example. I think the challenge -- Europe also presents this challenge, and there -- you know, there is the truth that citizens don't feel part of it enough and therefore one has to deepen and widen politics, because politics -- democratic politics is the source of legitimacy. Technocrats meeting in Brussels don't generate legitimacy, and there we -- a lot of work still remains to be done in Europe, but one thing that I want to add here -- and maybe that's part of the problem, that global mechanisms are becoming increasingly more important than regional mechanisms. To some degree -- I mean, regional cooperation is still very important, but many of the issues we are discussing, whether it's nuclear nonproliferation, clean energy, climate disease, financial crises, they're all global issues, and the fact that President-elect Obama, who was then still Senator Obama, went to Berlin and had hundreds of thousands of people in the street, that was a political event, and it was not a European, it was not a German, it was an American. And we need more of that. We need European politicians who could come to an American city and attract hundreds of thousands of citizens or Chinese, Indians. We need to create -- it will take time. It will probably take decades. But in order to make global governance and cooperation truly legitimate and effective, we will need to add the democratic politics that I mentioned to the technocratic and kind of government networks that we've built.

MR. SOLANA: I'm not going to be very long, because Strobe and Kemal have defended the case which to my mind doesn't need too much to be defended. But let me not look to the past. The success of the European Union, vis-à-vis the tragic history of our continent, is (inaudible). What has been said by Kemal, the success also (inaudible) question about (inaudible) to the economy, like the construction of the (inaudible), which is very important in this critical moment and will continue to be. But we have been talking today for two hours already about something which is very difficult to match -- how global problems require global solutions -- have a contradiction and the contradiction is there, the contradiction with the legitimacy, as Kemal has said many times and I repeat once again. It is not in the global system. It is still local. It is more local, more (inaudible), and also resources. Now, I think the European Union is the best example today of how you can begin to resolve that contradiction, that you can have global problems, to be global on the scale of the European Union and (inaudible) globally on the scale of the European Union and at the same time not being perfect, as has been said, with all the (inaudible) legitimacy, but it's still distance in years light or farther mechanisms of legitimacy in other constructions of the international community. Therefore, the model is a model which is good for us, and I think it will be good for others, and that's why other parts of the world are beginning to rescind the European Union as a model. I don't have to go very far, but I remember when the ASEAN was trying to run the first "constitution". I don't know how many hours, days, and months they stayed with us, trying to understand and trying to see how they could move on in that direction. The same can be said about the regions of the world. I think that this kind of molecular structure -- you allowed me to use that terminology for my (inaudible) -- is better than the structure which is genetomic and not molecular. A molecular world it will be better to handle than the opposite. And I think we are very bottom molecular, political molecular structure. Every atom of the molecule is distinguished -- U.K., Spain, Italy, carbon, oxygen, nitrogen -- we share elections that give the power. And that is what I think is a way in which the E.U. has to move on, and I'm very happy to belong to that molecule (inaudible). more...

| EU/UN / 4th Kingdom | Solana | NewWorldOrder | America | Economic Crisis |

There are many people who hold that the center of power for the kingdom of the man of sin as prophesied in scripture will various entities other than Europe. I believe Solana's statement above highlights one of the reasons I believe Europe is the revived Roman Empire and the fourth kingdom prophesied by Daniel and John. In a world that is going global, Europe is the example of how to cede sovereignty to a unified body, including the consolidation of currency into one.

Secret 'peace talks' exposed WorldNet Daily (November 20, 2008) - Despite media reports painting a dismal picture of negotiation prospects, Israel and the Palestinian Authority are still quietly working to conclude a major agreement before President Bush leaves office in January, informed Israeli and Palestinian sources told WND. The sources, including a senior Palestinian negotiator, said the aim is to reach a series of understandings to be guaranteed by the U.S. that would result in an eventual Israeli withdrawal from the vast majority of the West Bank. The understandings would also grant the PA permission to open official institutions in Jerusalem but would postpone talks on the future status of the capital city until new Israeli and U.S. governments are installed next year.

The original plan, initiated at last November's U.S.-sponsored Annapolis summit, was to create a Palestinian state, at least on paper, by January. The summit launched talks aimed at concluding a final status agreement on all core issues – borders, the status of Jerusalem and the future of so-called Palestinian refugees.

But a final agreement has been hampered by several recent events here, most notably Prime Minister Ehud Olmert's decision to resign amid corruption charges, leading to general elections scheduled for February that will see a new prime minister elected. The candidate for office from Olmert's Kadima party, Foreign Minister Tzipi Livni, is said to oppose reaching a deal on Jerusalem or refugees ahead of elections, fearing it will harm her prospects among center-right voters. Livni is Olmert's chief negotiator with the Palestinians.

In spite of the upcoming elections and the Israeli government's subsequent political instability, teams of Israeli and Palestinian negotiators have been quietly meeting regularly the past few weeks in hope of concluding a series of understandings on key issues. Informed sources said any understandings reached will be backed up by Bush in an official letter. It is unclear how much weight such a letter will carry under a new U.S. administration.

According to the sources, neither side expects to conclude any deal on the status of Jerusalem or Palestinian "refugees" before January, putting aside those issues for future talks. Instead, negotiations are focused on reaching an agreement emphasizing borders, particularly a pledged Israeli evacuation of the vast majority of the strategic West Bank, which borders central Israeli population centers. Read full story...

A Palestinian source told WND the U.S. is said to favor Israel withdrawing from nearly the entire West Bank. The source said the U.S. consulate in Jerusalem has been closely monitoring Israeli activities in the territory, which the source said has led to the Jewish state clamping down on what are termed "illegal outposts," or Jewish structures built in the West Bank without government permission. Israel has recently announced a series of small West Bank evacuations, including the threatened forced removal of Jews who legally purchased a house in the ancient city of Hebron.

Also being heavily negotiated is an agreement that would allow the PA to official open institutions in Jerusalem. WND previously reported the PA already has been quietly operating in Jerusalem, apparently with tacit approval from the Israeli government. But the expected agreement to be concluded before January would give the PA official operational status in the city, likely leading to the opening of scores of Palestinian institutions there.

According to Israeli law, the PA cannot officially hold court in Jerusalem. The PA previously maintained a de facto headquarters in Jerusalem, called Orient House, but the building was closed down by Israel in 2001 following a series of suicide bombings in Jerusalem. Israel said it had information indicating the House was used to plan and fund terrorism. Thousands of documents and copies of bank certificates and checks captured by Israel from Orient House – including many documents obtained by WND – showed the offices were used to finance terrorism, including direct payments to the Al Aqsa Martyrs Brigades terror group.

In parallel with an understanding on the West Bank and Jerusalem institutions, the PA is pushing for a massive prisoner release to be pledged before January. A senior Palestinian negotiator told WND the PA requested that all Palestinian prisoners – meaning even convicted terrorists responsible for murdering Israelis as well as members of the rival Hamas terror group – be freed as part of the deal.

While the negotiator conceded such a massive release is unlikely, he said the PA's hope is that Israel will grant a large release, possibly including the freedom of convicted murderer Marwan Barghouti. Barghouti is a founder of Fatah's Al Aqsa Martyrs Brigades terror group, the most active Palestinian terror organization. He has boasted of planning the intifada, or Palestinian terror war, launched in September 2000, after then-PA President Yasser Arafat turned down an Israeli offer of a Palestinian state and instead attempted to "liberate" Palestine by force. Barghouti is serving five life sentences for his direct role in murdering Israelis.

Other understandings that Israel and the PA are attempting to reach before January surround water and natural resources. While it wasn't clear whether any understanding would actually be reached, the timing apparently favors all involved leaders.

With Bush set to depart office in January, sealing a deal between Israel and the Palestinians would bode well for his legacy, which some analysts say is hampered by what is described as an unpopular war in Iraq, an economic meltdown and a growing crisis with Russia.

Olmert is Israel's most unpopular prime minister. Tainted by corruption charges and a heavily mismanaged war in Lebanon in 2006, Olmert would also like to depart office with a deal in hand. Also there is some concern in Jerusalem that President-elect Barack Obama may push Israel into further concessions during future negotiations, so some argue a deal on key issues while Bush is in office may be in Israel's interests.

Abbas' term in office expires Jan. 10. His future leadership is sure to be contested by Hamas and by some in Fatah's young guard who want him to be replaced by Barghouti. Abbas' ability to tout an agreement in which Israel is compelled to retreat from the West Bank and release Palestinian prisoners could help his fading street popularity. Also, Abbas is said to be greatly concerned by the prospects of February's Israeli elections resulting in opposition leader Benjamin Netanyahu coming to power. Netanyahu has announced repeatedly, including as recently as yesterday, he would suspend negotiations with the PA.

| Israel | Islam | Dividing the Land | America |

Anarchy Has Come News With Views (November 20, 2008) - President Bush reportedly said that the Constitution was “just a G—D—n piece of paper.” It is hard to believe that the report is true, but you would have to admit that recent happenings in this once-great Constitutional Republic reflect the opinions of many in power in the nation’s capital.

Despite what you might hear on the news, or out of the mouth of our elected officials, America is not a Democracy. In fact, according to our Founders, a democracy was the worst form of all governments. Listen to what some wise men have said.

Ben Franklin said “Democracy is two wolves and a lamb voting on what to have for lunch. When the people find they can vote themselves money, that will herald the end of the republic.”

“The best argument against democracy is a five-minute conversation with the average voter.” Winston Churchill

“Democracy is the road to socialism.” Karl Marx

According to Webster’s unabridged Dictionary, a republic is “A form of government in which supreme power resides in a body of citizens entitled to vote and is exercised by elected officers and representatives responsible to them and governing according to law." I don’t have the time or the space to go over it for you. Please just read this commentary that I wrote two-years ago if you need it explained further.

Socialism is coming at us faster than a locomotive and we can’t even hear the train whistle. If we don’t rise up soon and DEMAND that government stay within the restrictions that the Founders put in place we will never pass to the next generation the “blessings of liberty” that our fathers passed to us.

The Constitution is the supreme law of the land. Without it, America is a lawless nation and those in power are the boldest criminals. Please remember this; we have no Constitutional Rights, we have God-granted rights. The purpose of the Constitution was to restrain government. The Bill of Rights should actually be called the Bill of Government Limitations. Individual citizens cannot violate the Constitution. Only governments can. I am doing my best to write this commentary without my usual hyperbole. As Joe Friday would say, “Just the facts.”

Our ‘elected officials” swear an oath to uphold the Constitution. None of them do and we let them get away with it. The Courts are the worst. The “domestic enemies” use the courts to subvert this nation and hardly a peep is heard as judges arbitrarily rewrite the Constitution. Marbury v Madison was the source of the decree that “All laws which are repugnant to the Constitution are null and void.” Marbury vs. Madison 5 US (2 Cranch) 137, 174, 176, (1803). We must reclaim the Constitution if the Republic is to be saved. Look at how far we have fallen.

Amendment I
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.

Most of these freedoms are under assault as courts determine when and where they can be exercised. The fairness doctrine, public prayer, freedom of assembly, and hate speech legislation are all eviscerating the restraints on government.

Amendment II
A well regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed.

The new administration promises “change”. Those who are awake know that one of those changes will be government restriction on the God-given right to own guns. That’s why gun sales are through the roof with the election of Obama.

Amendment III
No soldier shall, in time of peace be quartered in any house, without the consent of the owner, nor in time of war, but in a manner to be prescribed by law.

American soldiers are never to be used against the citizenry. It is call Posse Comitatus which has been suspended by “Executive Order.” The 3rd Infantry is now active on American soil. Of course, they are here to help in “emergencies.”

Amendment IV
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

Can you say unwarranted wiretaps in the name of security, thanks to the Patriot Act? Under this “un-Constitutional law” a person can now be detained without cause. Habeaus Corpus is gone.

Amendment V
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.

Ditto. See Patriot Act above

Amendment VI
In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the state and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the assistance of counsel for his defense.

See Habeas corpus above.

Need I go on? So the voters in California determined that marriage shall remain a union between a man and a woman and the anarchists hit the streets. They invade churches, and appeal to the courts to overturn the will of the people.

Anarchy is defined as a state of lawlessness or political disorder due to the absence of governmental authority. Lawless is abounding in America. Bankers openly steal from the people, government hands out money in violation of their oath, voter fraud runs rampant, and our new president may not even be eligible for the office.

America’s Constitution is a “living breathing document” because God’s Word is no longer the rock upon which all law stands. Remove God and you remove His laws. Remove His laws and you remove the pillars. The non-constitutional separation between the church and the state has removed the foundation of all moral law.

If God is gone, then government is god. “In those days there was no king in Israel, but every man did that which was right in his own eyes.”

"Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other." John Adams.

"We have staked the whole future of American civilization, not upon the power of government, far from it. We’ve staked the future of all our political institutions upon our capacity…to sustain ourselves according to the Ten Commandments of God." [1778 to the General Assembly of the State of Virginia] James Madison.

Anarchy has come to America.
| America |

Recession fears hit stock markets BBC News (November 20, 2008) - Wall Street shares have fallen steeply for the second day in a row, amid investors' growing fears of a protracted economic downturn. The Dow Jones average tumbled 5.5% after politicians said they could not agree on an immediate $25bn bail-out for the troubled US carmakers. Concerns over a sharp slowdown in US factory activity also added to worries about the strength of the economy. Earlier, European markets all closed sharply lower on recession worries.

US carmakers Ford, General Motors and Chrysler have now been told to come up with their own viable recovery plan by 2 December if they want a $25bn (£17bn) government rescue. Democratic House Speaker Nancy Pelosi said that without such a plan there would be no bail-out. She said there was currently no plan in circulation that could pass both Houses of Congress and win President George W Bush's approval.

Unemployment claims

At the close the Dow was down 449.99 at 7,552.29. The Nasdaq was down 5%, or 70 points, at 1,316.12. Adding to the gloom, a business survey from the Philadelphia Federal Reserve showed that factory activity covering the key areas of eastern Pennsylvania, southern New Jersey and Delaware fell by more than forecast in November. The index, which is seen as a key gauge of the future state of US manufacturing, slipped to minus 39.3 from minus 37.5 in October.

And new claims for unemployment benefits leapt last week to their highest in 16 years, according to the US labour department. "The unemployment data was yet another ugly data point in a seemingly never-ending stream of poor economic numbers," said Michael Wittner, global head of oil research at Societe Generale.

The White House indicated on Thursday that Mr Bush would approve legislation to increase unemployment benefits.

Meanwhile, shares in Citigroup tumbled to their lowest level in more than 15 years, despite news that Saudi Prince Alwaleed bin Talal, a long-time investor in the bank, was increasing his stake from less than 4% to 5%.

Mounting problems

The deepening global recession is being felt in a number of ways:

• Mining shares have been hit hard on fears that demand for steel and other raw materials will drop as the economy slows. Steel giant Arcelor-Mittal lost 8% and Vedanta Resources lost 8.5%
• Oil shares were among the main fallers with BP, Royal Dutch Shell and Total all at least 5% lower as sweet crude oil fell below $50 a barrel
• Japan's exports to Asia dropped in October for the first time in six years
• Job losses are mounting worldwide, with aerospace firm Rolls Royce, pharmaceutical giant AstraZeneca and French carmaker Peugeot Citroen announcing a total of 6,100 cuts
• China has warned its employment outlook is "grim", amid worries that economic problems could lead to social unrest
• Switzerland has cut its key interest rate to 1% in a surprise move
• The IMF has approved a $2.1bn (£1.4bn) loan for Iceland. Turkey is set to agree to a precautionary stand-by deal with the IMF soon
• Retail sales fell and public sector borrowing rose in the UK.

In Europe, the London, Paris and Frankfurt markets were all down by more than 3%. In Asia on Thursday, Japan's Nikkei index ended 6.8% lower and Hong Kong's main index fell more than 4%.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Bush Hands Over Reins of U.S. Economy to EU Newsmax (November 19, 2008) - The results of the G-20 economic summit amount to nothing less than the seamless integration of the United States into the European economy. In one month of legislation and one diplomatic meeting, the United States has unilaterally abdicated all the gains for the concept of free markets won by the Reagan administration and surrendered, in total, to the Western European model of socialism, stagnation, and excessive government regulation. Sovereignty is out the window. Without a vote, we are suddenly members of the European Union. Given the dismal record of those nations at creating jobs and sustaining growth, merging with the Europeans is like a partnership with death.

At the G-20 meeting, Bush agreed to subject the Securities and Exchange Commission (SEC) and our other regulatory agencies to the supervision of a global entity that would critique its regulatory standards and demand changes if it felt they were necessary. Bush agreed to create a College of Supervisors. According to The Washington Post, it would "examine the books of major financial institutions that operate across national borders so regulators could begin to have a more complete picture of banks' operations." Their scrutiny would extend to hedge funds and to various "exotic" financial instruments. The International Monetary Fund (IMF), a European-dominated operation, would conduct "regular vigorous reviews" of American financial institutions and practices. The European-dominated College of Supervisors would also weigh in on issues like executive compensation and investment practices.

There is nothing wrong with the substance of this regulation. Experience is showing it is needed. But it is very wrong to delegate these powers to unelected, international institutions with no political accountability. We have a Securities and Exchange Commission appointed by the president and confirmed by the Senate, both of whom are elected by the American people. It is with the SEC, the Treasury, and the Federal Reserve that financial accountability must take place.

The European Union achieved this massive subrogation of American sovereignty the way it usually does, by negotiation, gradual bureaucratic encroachment, and without asking the voters if they approve. What's more, Bush appears to have gone down without a fight, saving his debating time for arguing against the protectionism that France's Nicolas Sarkozy was pushing. By giving Bush a seeming victory on a moratorium against protectionism for one year, Sarkozy was able to slip over his massive scheme for taking over the supervision of the U.S. economy.

All kinds of political agendas are advancing under the cover of responding to the global financial crisis. Where Franklin Roosevelt saved capitalism by regulating it, Bush, to say nothing of Obama, has given the government control over our major financial and insurance institutions. And it isn't even our government! The power has now been transferred to the international community, led by the socialists in the European Union.

Will Obama govern from the left? He doesn't have to. George W. Bush has done all the heavy lifting for him. It was under Bush that the government basically took over as the chief stockholder of our financial institutions and under Bush that we ceded our financial controls to the European Union. In doing so, he has done nothing to preserve what differentiates the vibrant American economy from those dying economies in Europe.

Why have 80 percent of the jobs that have been created since 1980 in the industrialized world been created in the United States? How has America managed to retain its leading 24 percent share of global manufacturing even in the face of the Chinese surge? How has the U.S. GDP risen so high that it essentially equals that of the European Union, whose population is 50 percent greater? It has done so by an absence of stifling regulation, a liberation of capital to flow to innovative businesses, low taxes, and by a low level of unionization that has given business the flexibility to grow and prosper.

Europe, stagnated by taxation and regulation, has grown by a pittance while we have roared ahead. But now Bush — not Obama — Bush has given that all up and caved in to European socialists. The Bush legacy? European socialism. Who needs enemies with friends like Bush?
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Obama to fund forced abortions Spero News (November 15, 2008) -

0:01:51

Supporters of the United Nations Population Fund (UNFPA) are confident that President-elect Barack Obama will reverse the Bush administration’s 2002 decision to stop the $40 million it received in U.S. funding. The policy was instated because of UNFPA’s support for China’s one-child policy, which includes coercive abortion practices.

Rep. Carolyn Maloney (D – N.Y.) said the funding will be approved by the Democratic majority Congress. Her comments came while speaking Wednesday at a press conference at the National Press Club where the 2008 U.N. report on world population was released. “You know the president will have to do nothing,” said Maloney. “He will just have to let the will of Congress go through. One of the changes is that UNFPA will be funded,” CNSNews.com reports.

The Bush administration in 2002 had stopped funding the organization, citing the Kemp-Kasten Amendment which prohibits funds from being available to organizations or programs determined to be supporting or participating in coercive abortion or involuntary sterilization programs. In July of 2008, Deputy Secretary of State John Negroponte announced that for the sixth year in a row, the government had determined that “UNFPA provides support for and participates in the management of the Chinese government’s program of coercive abortion and involuntary sterilization.”

Rep. Maloney reported that she discusses UNFPA funding controversies in her book “Rumors of Our Progress are Greatly Exaggerated.” She said the UNFPA was founded “with American leadership” and “was supported strongly by George Bush’s father.”

The new UN report, “Reaching Common Ground: Culture, Gender and Human Rights,” calls for “cultural sensitivity” to “mitigate and overcome cultural resistance to couples and individuals using modern contraception.” It claims to prepare for the empowerment of women with control over their fertility. Nevertheless, Rep. Maloney claimed the U.S. will no longer “impose our own ideology” under the UNFPA funding changes. She said Obama “has already said his administration will change the way we do business in Washington and that improving the role of women around the world is going to be one of his prominent priorities. “I am thrilled with this report, and I am really thrilled at the new direction of our government,” Maloney said, according to CNSNews.com.
| America |

A little history on Planned Parenthood and Margaret Sanger quotes.

Obama transition tangled in ties to lobbying New York Times (November 14, 2008) - President-elect Barack Obama has imposed stricter conflict-of-interest restrictions on his White House transition team than any president before him. But a list of transition team members that his office made public on Friday includes a complicated tangle of ties to private influence-seekers.

Among the full roster of about 150 staff members being assigned to government agencies between now and Inauguration Day are dozens of former lobbyists and some who were registered as recently as this year. Many more are executives and partners at firms that pay lobbyists, and former government officials who work as consultants or advisers to those seeking influence.

After campaigning on promises to end the influence of lobbyists in the White House, Mr. Obama has imposed rules that bar officials on his transition team from handling any issues in areas of policy where they have lobbied over the last 12 months or from seeking to influence the same agencies for the next 12 months. The rules also bar officials from working on matters where family members or recent business associates may have a direct conflict of interest. In cases where there is even an “appearance of conflict,” officials must seek a waiver from the transition’s executive director, an Obama Senate aide and law school classmate, Christopher Lu.

At least one official initially involved in the transition appears to have been reassigned because of concern about his lobbying or legal work. Henry Rivera, a former Democratic commissioner on the Federal Communication Commission who was involved in planning for the agency’s transition, has dropped out of that role because he had represented clients on communications policy in the last year, the newsletter Communications Daily reported Friday. Instead, on the list that was made public on Friday, Mr. Rivera was listed on the team handling science, technology, space and the arts. The rules permit people who have lobbied in one area to join an Obama transition team in another. (With Mr. Rivera is Jim Kohlenberger, executive director of an advocacy group for Internet companies.) Representatives of the transition team declined to comment on the assignment, and Mr. Rivera did not return a phone call seeking comment.

Transition officials said that their policy went further than any previous White House to avoid self-dealing or influence-trading in the formation of the new administration, and that in the modern Washington it would be foolish to try to eliminate anyone who had worked in public policy for a private interest — or who had a family member in that business — from contributing to the transition. Stephanie Cutter, a transition spokeswoman, said in a written statement that the transition team reflected what she called Mr. Obama’s “commitment to change the way Washington does business and curb the influence of lobbyists on our government.” “While these rules disqualify many well-qualified professionals from participating in the transition as a result, they also put in place the right safeguards to prevent any potential conflicts of interest,” Ms. Cutter said.

Some appear to skirt the edges of the ban on working in areas of the transition where they have recently lobbied. Handling some Interior Department issues is Keith Harper, who lobbied earlier this year for Native American tribes. Overseeing the Consumer Products Safety Commission is Pamela Gilbert, a former executive director of the agency who as recently as two years ago lobbied for a consumer advocacy group. Within the last year she has lobbied for the company Barr Laboratories, for an investor group, and for an antitrust enforcement group.

Among the group handling the Justice Department and civil rights areas of the transition is Theodore Shaw, a litigator for an arm of the N.A.A.C.P. He has registered as a lobbyist for the group in the past, but N.A.A.C.P. officials say he has not lobbied in the past 12 months.

David J. Hayes, part of the 12-member group overseeing the transition and co-head of the team handling the areas of energy and natural resources, is the chairman of the environmental practice at the law and lobbying firm Latham & Watkins. He was personally registered as a lobbyist as recently as 2006, for clients including San Diego Gas and Electric.

Sally Katzen, another member of the supervisory group who is also on teams for the office of the president and government operations, was registered last year to lobby for the pharmaceutical company Amgen on Medicare reimbursements. Louisa Terrell, another member of the top working group, is on leave from the public policy office of the Internet company Yahoo! Tom Wheeler, another of the 12, is on leave from a firm that invests in technology companies and before 2004 lobbied for the cable television and wireless industries.

John L. White, a former Clinton official charged with overseeing the new Defense Department, is a partner in a firm that invests in defense contractors. Michael Warren, charged with overseeing Treasury, is chief operating officer of a firm that lobbies for clients including the U.S.-India Business Council.

Several of the officials have ties to the Fannie Mae, the government-backed mortgage firm whose implosion this fall contributed to the financial meltdown. Thomas Donilon, overseeing the State Department, is a partner in the law and lobbying firm O’Melveny and Myers who until three years ago lobbied for Fannie Mae. Wendy R. Sherman, the other official charged with reviewing the State Department, once headed Fannie Mae’s charitable foundation. And James Johnson, a former top officer of Fannie Mae, is on the economics and international trade team, charged with reviewing the Commodities Futures Trading Commission. Read full story...

Even Mr. Lu, the transition’s executive director charged with policing potential conflicts of interests, may have his own appearance problems. His wife, Kathryn Thomson, is a lawyer who represents corporate clients dealing with federal environmental regulations, while his older brother, Curtis Lu, is a top lawyer for Fannie Mae. (Such family connections may not be disqualifying conflicts depending on the nature of the transition job, ethics lawyers said.)

Mr. Lu has his work cut out for him in deciding which apparent conflicts may be of real concern, said Robert Walker, a Washington lawyer and former staff director of the Senate Ethics Committee. “I don’t think it is the brightest of bright lines, and there is going to be a lot of time spent thinking about just where that line is,” Mr. Walker said.

The people involved in the transition teams assigned to each federal department and agency have begun meeting with their current staff to collect information on budgets, pending issues and personnel matters. For now, the advisers assigned to each agency report back to the central 12-person working group, which coordinates the efforts.

The vast majority involved are second-tier officials of the Clinton administration, eager to help another Democrat take control of the White House. With the exception of a few academics, almost all of them spent the intervening years in the private sector, usually capitalizing on the connections and expertise they developed in the Clinton years.

For example, Sandy Berger, the Clinton national security adviser, founded Stonebridge International, a consulting and lobbying firm focused on helping clients resolve government issues here and overseas.

Mr. Berger took with him Mr. Warren, the former executive director of the president’s economic council who became chief operating officer of Stonebridge and has now become a major contributor to the transition in the pivotal areas of the Treasury Department and economic policy. Although not a registered lobbyist, Mr. Warren helped manage Stonebridge while it lobbied the government for clients including the U.S.-India Business Council within the last year as well as Dynergy International, Airbus and Conoco in earlier years. (More of Stonebridge’s business involves using government expertise and connections to help corporate clients abroad.)

Some transition officials now work at firms that do business with the agencies they are examining. John O. Brennan, a former Central Intelligence Agency official working on its transition, is president and chief executive of the Analysis Corporation, an intelligence contractor.

On the NASA review board, Lori Garver is now president of a strategic consulting company, Capital Space LLC, and previously worked for the aerospace company DFI International.

Among the transition officials charged with reviewing the Securities and Exchange Commission — likely to come under significant scrutiny amid the financial meltdown — is Mozelle Thompson, who runs a legal and policy consulting business for publicly traded companies including Facebook.com. One name on the transition list comes unencumbered by potential conflicts but instead by bad luck. Jami Miscik, leading a review of American intelligence agencies, was the head of intelligence analysis at the Central Intelligence Agency during its biggest embarrassment: the botched assessments about Iraq’s weapons of mass destruction. Then she moved on to become a senior official managing risks in emerging markets for the investment bank Lehman Brothers, until its collapse this fall.

| America |

German economy falls into recession Associated Press (November 13, 2008) - The German economy, Europe's biggest, tipped into recession in the third quarter as weakening exports fueled a bigger-than-expected fall in national output, government figures showed Thursday. Gross domestic product contracted by 0.5 percent in the July-September period compared with the previous quarter, the Federal Statistical Office said — a much sharper fall than the roughly 0.2 percent decline economists had expected. That followed a 0.4 percent fall in GDP in the second quarter, which was the first decline since late 2004, and a 1.4 percent growth rate in the first quarter.

A technical recession is defined as two consecutive quarters of negative growth. The statistical office said a slight increase in consumer and government spending in the third quarter, during which the global financial crisis gathered pace, was offset by falling exports and a large increase in imports. Exports are a mainstay of the German economy and largely powered its stronger performance over recent years.

Holger Schmieding, chief European economist at Bank of America, said the third-quarter economic decline may be "just the beginning." "Late 2008 and early 2009 could well be worse," he said. "Germany — and the euro zone — have to get ready for a serious recession."

Economists said the bigger-than-expected fall was partly explained by upward revisions to the first- and second-quarter figures — previously reported as a 1.3 percent rise and 0.5 percent decline. In addition, the euro reached record levels against the U.S. dollar during the quarter and oil prices hit all-time highs. Both have since retreated. Still, Thursday's figures pointed to more trouble ahead. Schmieding forecast that the German economy would shrink by 0.6 percent in both the current quarter and next year's first quarter.

Timo Klein, an economist at IHS Global Insight in Frankfurt, said that "net exports will stay on a weakening trend for most of 2009, due to faltering euro zone and indeed global demand." The euro's decline against the dollar "will offset this only partially, as the pace of growth in foreign countries is a much more important variable for German exports than the exchange rate," he added.

Klein said declining oil prices and inflation could support private consumption, but fears over jobs could hold back consumer spending. The government is predicting growth of 1.7 percent for the whole of 2008, but forecasts the economy will slow to 0.2 percent next year. On Wednesday, its independent panel of economic advisers offered a gloomier outlook, forecasting zero growth in 2009.

In an effort to reduce the impact of the economic crisis, the government is pushing through a stimulus package ranging from tax breaks on new cars to credit assistance for companies. It is aimed at triggering investments of up to 50 billion euros ($63 billion).
| EU/UN / 4th Kingdom | America | Economic Crisis |

Ex-Hitler youth's warning to America WorldNet Daily (November 13, 2008) - Because it has abandoned moral absolutes and its historic Christian faith, the U.S. is moving closer to a Nazi-style totalitarianism, warns a former German member of the Hitler Youth in a new book. "Every day brings this nation closer to a Nazi-style totalitarian abyss," writes Hilmar von Campe, now a U.S. citizen, and author of "Defeating the Totalitarian Lie: A Former Hitler Youth Warns America."

Von Campe has founded the national Institute for Truth and Freedom to fight for a return to constitutional government in the U.S. – a key, he believes, to keeping America free. "I lived the Nazi nightmare, and, as the old saying goes, 'A man with an experience is never at the mercy of a man with an argument,'" writes von Campe. "Everything I write is based on my personal experience in Nazi Germany. There is nothing theoretical about my description of what happens when a nation throws God out of government and society, and Christians become religious bystanders. I don't want to see a repetition. The role of God in human society is the decisive issue for this generation. My writing is part of my life of restitution for the crimes of a godless government, of the evil of which I was a part."

Von Campe grew up under the Nazis, served in the Hitler Youth and fought against the Red Army in the Yugoslavian theater as a tank gunner in the German army. He was captured at the end of the war and escaped five months later from a prisoner of war camp in Communist Yugoslavia. "It took me a long time to understand and define the nature of National Socialism," says von Campe. "And, unfortunately, their philosophy continues to flourish under different labels remaining a menace to America and free human society."

He writes: "The most painful part of defining National Socialism was to recognize my own moral responsibility for the Nazi disaster and their crimes against humanity. It boiled down to accepting the truth that 'as I am, so is my nation,' and realizing that if every German was like me, it was no wonder that the nation became a cesspool of gangsters. This realization is as valid today for any person in any nation as it was then, and it is true for America and every American now."

Von Campe's message is that political freedom and democratic rules alone are not sufficient to govern humanity justly. "Democratic procedures can be subverted and dishonest politicians are like sand in the gearbox, abundant, everywhere and destructive," he writes. "What I see in America today is people painting their cabins while the ship goes down. Today in America we are witnessing a repeat performance of the tragedy of 1933 when an entire nation let itself be led like a lamb to the Socialist slaughterhouse. This time, the end of freedom is inevitable unless America rises to her mission and destiny."

Von Campe says he sees spiritual parallels among Americans and his childhood Germany. "The silence from our pulpits regarding the moral collapse of American society from within is not very different from the silence that echoed from the pulpits in Germany toward Nazi policies," he explains. "Our family lived through the Nazi years in Germany, an experience typical of millions of Europeans regardless of what side they were on. We paid a high price for the moral perversions of a German government, which excluded God and His Commandments from their policies. America must not continue following the same path to destruction, but instead heed the lessons of history and the warning I am giving."

Specifically, von Campe warns Americans their political leaders are on the wrong footing, "denying our cultural and traditional roots based on our unique Constitution and Christian orientation as a nation. Christians don't understand their mission."
| NewWorldOrder | America |

'Gay fascists' storm church, attack members One News Now (November 13, 2008) - Homosexual activists recently attacked a Michigan church during its worship service. The attack occurred at Mount Hope Church in Lansing, Michigan, by a group of self-described homosexual anarchists called "Bash Back!" Susan Fani of the Catholic League describes what happened.

"Outside they were chanting 'Jesus was a homo' on a megaphone. They were beating on buckets, presumably to drown out what the pastor was saying inside the church, and carrying an upside-down pink cross," she explains. "They set off the fire alarm. They unfurled this big banner because they apparently were hiding in an unused part of the church, like the balcony area." A Catholic League article also notes the "gay fascists" stormed the pulpit and shouted obscenities at church members. The protesters carried a banner that read, "It's okay to be gay! Bash Back!"

Fani contends the group's activities were illegal. "The police did show up and, as far as we can tell, no one was arrested, which we also don't understand because apparently most of the 30 or so people in this group fled before the police got there, but some were still there," she adds.

President of the Catholic League Bill Donahue laments the refusal of the biased, mainstream media to report on what he calls one of the most disturbing events this year. "If an organized group of gay bashers stormed a gay church, there is not a single sentient person in the United States who wouldn't know about it." The league is contacting Mike Cox, Michigan's attorney general, for an investigation.
| America |

Liberals clinically mad, concludes top psychiatrist WorldNet Daily (November 12, 2008) - Just when liberals thought it was safe to start identifying themselves as such, an acclaimed, veteran psychiatrist is making the case that the ideology motivating them is actually a mental disorder. "Based on strikingly irrational beliefs and emotions, modern liberals relentlessly undermine the most important principles on which our freedoms were founded," says Dr. Lyle Rossiter, author of the new book, "The Liberal Mind: The Psychological Causes of Political Madness." "Like spoiled, angry children, they rebel against the normal responsibilities of adulthood and demand that a parental government meet their needs from cradle to grave."

While political activists on the other side of the spectrum have made similar observations, Rossiter boasts professional credentials and a life virtually free of activism and links to "the vast right-wing conspiracy." For more than 35 years he has diagnosed and treated more than 1,500 patients as a board-certified clinical psychiatrist and examined more than 2,700 civil and criminal cases as a board-certified forensic psychiatrist. He received his medical and psychiatric training at the University of Chicago.

Rossiter says the kind of liberalism being displayed by both Barack Obama and his Democratic primary opponent Hillary Clinton can only be understood as a psychological disorder. "A social scientist who understands human nature will not dismiss the vital roles of free choice, voluntary cooperation and moral integrity – as liberals do," he says. "A political leader who understands human nature will not ignore individual differences in talent, drive, personal appeal and work ethic, and then try to impose economic and social equality on the population – as liberals do. And a legislator who understands human nature will not create an environment of rules which over-regulates and over-taxes the nation's citizens, corrupts their character and reduces them to wards of the state – as liberals do."

Dr. Rossiter says the liberal agenda preys on weakness and feelings of inferiority in the population by:

• creating and reinforcing perceptions of victimization;
• satisfying infantile claims to entitlement, indulgence and compensation;
• augmenting primitive feelings of envy;
• rejecting the sovereignty of the individual, subordinating him to the will of the government.

"The roots of liberalism – and its associated madness – can be clearly identified by understanding how children develop from infancy to adulthood and how distorted development produces the irrational beliefs of the liberal mind," he says. "When the modern liberal mind whines about imaginary victims, rages against imaginary villains and seeks above all else to run the lives of persons competent to run their own lives, the neurosis of the liberal mind becomes painfully obvious."
| America |

An Interview With Dr. Ron Paul McAlvany Weekly Commentary (November 12, 2008) - Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the “one exception to the Gang of 535″ on Capitol Hill.
| America | Economic Crisis |

Council on Foreign Relations president predicts coups, genocide and terrorism to test Obama Current (November 9, 2008) - Echoing Vice President-Elect Joe Biden's promise of a generated crisis and Colin Powell's revelation of a crisis that will happen on January 21 or 22, we now have the president of the Council on Foreign Relations and Biderberger Richard Haas' similar predictions of doom and gloom scheduled for President-Elect Obama.

"While foreign leaders may or may not choose to test Obama, "the one thing I'm sure of is, events will test him," Council on Foreign Relations president Richard Haass said. "There will be coups. ... There will be genocide. ... There will be terrorism."

In 74 days, President-elect Barack Obama will assume responsibility for guiding the nation out of two wars and through a daunting array of real and potential global crises. Obama is likely to benefit from initial goodwill across much of the planet, where there's profound relief that the Bush years are ending. Still, the new president — untested in foreign affairs — faces what may be the most unsettled global scene since the 1930s and '40s."
| America |

Obama's Council on Foreign Relations Crew Global Research (November 9, 2008) - Meet some of president elect Obama’s leading foreign and domestic policy advisors and likely administration members, every one of them a prominent member of the Council On Foreign Relations. Will these people bring about "change" or will they continue to hold up the same entrenched system forged by the corporate elite for decades?

Susan E. Rice - Council on Foreign Relations, The Brookings Institution - Served as Assistant Secretary of State for African Affairs under Clinton from 1997 to 2001. Former Secretary of State Madeline Albright is a longtime mentor and family friend to Rice. Critics charge that she is is ill disposed towards Europe, has little understanding of the Middle East and would essentially follow the same policies of Condoleeza Rice if appointed the next Secretary of State or the National Security Adviser.

Anthony Lake - CFR, PNAC - Bill Clinton’s first national security adviser, who was criticized for the administration’s failure to confront the genocide in Rwanda in 1994 and now acknowledges the inaction as a major mistake.

Zbigniew Brzezinski - CFR, Trilateral Commission - Brzezinski is widely seen as the man who created Al Qaeda, and was involved in the Carter Administration plan to give arms, funding and training to the mujahideen in Afghanistan.

Richard Clarke - CFR - Former chief counter-terrorism adviser on the U.S. National Security Council under Bush. Notoriously turned against the Bush administration after 9/11 and the invasion of Iraq. Also advised Madeleine Albright during the Genocide in Rwanda.

Ivo Daalder - CFR, Brookings, PNAC - Co-authored a Washington Post op-ed with neocon Robert Kagan arguing that interventionism is a bipartisan affair that should be undertaken with the approval of our democratic allies.

Dennis Ross - CFR, Trilateral Commission, PNAC - Served as the director for policy planning in the State Department under President George H. W. Bush and special Middle East coordinator under President Bill Clinton. A noted supporter of the Iraq war, Ross is also a Foreign Affairs Analyst for the Fox News Channel.

Lawrence Korb - CFR, Brookings - Director of National Security Studies at the Council on Foreign Relations. Has criticized manor of the invasion of Iraq but has detailed plans to increase the manpower of the United States Army to fight the war on terror and to "spread liberal democratic values throughout the Middle East".

Bruce Reidel - CFR, Brookings - Former CIA analyst who wishes to expand the war on terror to fight Al Qaeda across the globe. Considered to be the reason behind Barack Obama’s Hawkish views on Pakistan and his Pro India leanings on Kashmir.

Stephen Flynn - CFR - Has been attributed with the idea for Obama’s much vaunted "Civilian Security Force". Flynn has written: "The United States should roughly replicate the Federal Reserve model by creating a Federal Security Reserve System (FSRS) with a national board of governors, 10 regional Homeland Security Districts, and 92 local branches called Metropolitan Anti-Terrorism Committees. The objective of this system would be to develop self-funding mechanisms to more fully engage a broad cross-section of American society to protect the country’s critical foundations from the widespread disruption that would arise from a terrorist attack."

Madeline Albright - CFR, Brookings - Currently serves on the Council on Foreign Relations Board of directors. Secretary of State and US Ambassador to the United Nations under Clinton. Did not take action against the genocide in Rwanda. Defended the sanctions against Iraq under Saddam Hussein. When asked by CBS’s 60 Minutes about the effects of sanctions: "We have heard that half a million children have died. I mean, that’s more children than died in Hiroshima. And, you know, is the price worth it?" Albright replied: "I think this is a very hard choice, but the price — we think the price is worth it."

This is by no means an exhaustive list. Of course, had John McCain become president, being a member of the CFR himself, his administration would have been replete with CFR representatives also. Max Boot, Lawrence Eagleburger and Henry Kissinger, to name but a few, are all CFR members and were all advisors to the McCain campaign.

Please do your own research and add more names in the comments section of this report. It is important to document how these people are a part of the engine of global elitism and do not represent change. Only with this understanding will others wake up to the false left-right paradigm and be able to create the environment for real political change.
| NewWorldOrder | America |

Mexico deadlier than Iraq WorldNet Daily (November 11, 2008) - Drug-related bloodshed has killed more than 4,400 people across Mexico this year – a body count that has already exceeded the U.S. military death toll of 4,192 in the Iraq war since March 20, 2003. Violence involving soldiers, police and gangs has resulted in murders of 387 people in the first two weeks of October alone, and 58 killings were reported on Nov. 3, the day drug hitmen ambushed and killed two police officers with grenades and guns. The violence is not letting up in Mexico, where brutal murders are reported daily. This month is no exception.

On Election Day, a jet carrying Interior Secretary Juan Camilo Mouriño, the second highest official of the Mexican government, crashed in Mexico City. Fourteen people, including Mouriño, were killed, and 40 were injured. Many people believe the plane was a cartel target because top crime-fighting officials were aboard, including former Assistant Attorney-General José Luis Santiago Vasconcelos – an official whose name was found on a hit list. Mexican authorities claim there is no evidence that the plane was targeted. But according to a survey published by the Milenio newspaper, 56 percent of Mexicans are refusing to believe the plane crash was an accident, even if police determine so.

This week, two disabled police officers were shot to death in Juarez, across the border from El paso, Texas. They were part of a special unit to help disabled people, the Associated Press reported. One officer was nearly blind while the other was wheelchair-bound.

Twelve police officers were murdered in the first week of November. Mexican gunmen armed with automatic rifles and grenades also riddled police chief Juan Manuel Pavon Felix and three other men with bullets in Nogales just last week, while another police chief, Alejandro Parada, was shot to death Friday.

Another man was handcuffed, decapitated and put into a plastic bag hanging from a Juarez bridge. His head was found in another bag in a nearby plaza. Kidnappers also murdered a 5-year-old boy in Mexico City by injecting his heart with acid.

Gunfire erupted Friday after Mexican drug gangs clashed inside a Mazatlan prison, killing five people. According to a Reuters report, guns and drugs are common in most Mexican prisons filled with drug and organized-crime convicts. This weekend also marked bloody deaths of 10 people – including policemen – in Tijuana. Drug hitmen killed three of the men in drive-by shootings, the San Diego Union-Tribune reported.

Meanwhile, Mexican police captured the country's most feared death squad boss, Jaime "The Hummer" Gonzales this week, along with the largest arms collection in Mexico history – 540 rifles, 165 grenades, 500,000 rounds of ammunition and 14 sticks of TNT – all near the U.S. border. The FBI said Gonzales is suspected of ordering dozens of hitmen to Reynosa for a confrontation with U.S. police, London's Telegraph reported.

Security analyst Fred Burton at the Austin, Texas-based Stratfor firm, a private intelligence and analysis company, told Voice of America he is concerned that the violence is spilling into the U.S. "If you talk to the border sheriffs, which I do – if you talk to the police departments along the border, they will tell you they have a significant problem with cross-border abductions, murders, the homicide rate, and it impacts on us all in the United States," Burton said. Santa Cruz County Sheriff Tony Estrada told Green Valley News, "When they go after cops, this is scary. It's the work of brazen, seemingly fearless executioners." He said the violence can easily spill over into the U.S.: "The border is an invisible line."

Meanwhile, the U.S. State Department issued a travel advisory in October for Americans who visit Mexico. Public shootouts, muggings, murders and bank robberies are rampant – even in broad daylight – and Mexican criminals harass U.S. travelers along border regions. "Some recent Mexican army and police confrontations with drug cartels have taken on the characteristics of small-unit combat, with cartels employing automatic weapons and, on occasion, grenades," the State Department warned.

Meanwhile, Mexican officials have launched a desperate campaign to draw American tourists back into Juarez after many decided to stay away from the region, the Associated Press reports. Billboards tout the city as the "land of encounters."
| Signs of the Times | America |

Interview: Single EU defence 'not for all' Euractiv (November 11, 2008) - It is impossible to conceive 'Defence Europe' as a project for all 27 member states because they do not all share "similar ambitions", French Defence Minister Hervé Morin told EurActiv France in an exclusive interview.

Nevertheless, there are grounds for increased cooperation between particular member states. "Our idea is to put a number of proposals on the table, in the knowledge that some will be well-received by a limited number of countries rather than all 26," noted Morin, underlining that this was how Europe was built in many other policy areas.

Morin is confident, nonetheless, that agreement can be reached among the 27 to raise military and public awareness of the need for a European defence capacity or "military Erasmus". The project is expected to focus on military training, fostering exchange between young European officers on coordinating evacuations of European nationals and on surveillance of European maritime areas. "We are confident that the proposals tabled will be adopted," said Morin, explaining that the French EU Presidency had received positive feedback regarding the planned measures.

Morin was also upbeat about information received from the Bush administration, which he said had changed its stance on European defence. Quoting Robert Gates, his US counterpart, the French minister noted that "there is no longer any American hostility to the creation of 'Defence Europe'. They have understood that it is a means of improving global military capabilities".

The defence minister explained that in designing a "system that nobody could block," the French Presidency had ensured that every member state could "decide upon its own participation". For example, Hungary, Romania and Bulgaria will not participate in the multinational airlift fleet based on the A400M, Morin explained, but they will benefit in terms of balancing their transportation deficiencies.
| EU/UN / 4th Kingdom | NewWorldOrder | America |

Gordon Brown calls for new world order to beat recession Telegraph UK (November 10, 2008) - Mr Brown will call on fellow world leaders to use the current worldwide economic downturn as an opportunity to thoroughly reform international financial institutions and create a new "truly global society" with Britain, the US and Europe providing leadership. His call comes ahead of an emergency summit of world leaders and finance ministers from 20 major countries, the G20, in Washington next weekend. Mr Brown will say that the Washington meeting must establish a consensus on a new Bretton Woods-style framework for the international financial system, featuring a reformed International Monetary Fund which will act as a global early-warning system for financial problems.

The original Bretton Woods agreements, signed in Bretton Woods, New Hampshire in 1944, established post-war international monetary protocols governing trade, banking and other financial relations among nations, including fixed exchange rates and the IMF.

Mr Brown's plan for strengthening the global economy 60 years later involves recapitalisation of banks to permit the resumption of normal lending to households and businesses, better international co-ordination of fiscal and monetary policy and a new IMF fund to help struggling economies and stop financial problems spreading between nations. He also wants agreement on a world trade deal and reform of the international financial system based on principles of "transparency, integrity, responsibility, sound banking practice and global governance with co-ordination across borders".

As Britain moves into a painful recession Mr Brown has staked his own leadership on helping to find a way out of the global crisis. In a speech to City financiers at the annual Lord Mayor's banquet in London he will say: "The British Government will begin to begin a new Bretton Woods with a new IMF that offers, by its surveillance of every economy, an early warning system and a crisis prevention mechanism for the whole world. "The alliance between Britain and the US, and more broadly between Europe and the US, can and must provide leadership, not in order to make the rules ourselves, but to lead the global effort to build a stronger and more just international order. "My message is that we must be internationalist not protectionist, interventionist not neutral, progressive not reactive and forward-looking not frozen by events. We can seize the moment and in doing so build a truly global society."

Mr Brown has already discussed IMF reforms with French President Nicolas Sarkozy and German Chancellor Angela Merkel and has called on countries including China and the oil-rich Gulf states to fund the bulk of an increase in the IMF's bailout pot. The Prime Minister wants the markets to be subjected to morality and ordinary people's interests are put first. He believes that in electing Barack Obama, US voters have showed their belief in a "progressive" agenda of government intervention to help families and businesses through the current crisis. He will say: "Uniquely in this global age, it is now in our power to come together so that 2008 is remembered not just for the failure of a financial crash that engulfed the world but for the resilience and optimism with which we faced the storm, endured it and prevailed."

However, the head of the IMF played down expectations of a new Bretton Woods system ahead of the G20 summit. Dominique Strauss-Kahn, the IMF's managing director, said: "Expectations should not be oversold. Things are not going to change overnight. Bretton Woods took two years to prepare. A lot of people are talking about Bretton Woods II. The words sound nice but we are not going to create a new international treaty."

The European Union has called for an overhaul of the IMF with French President Nicolas Sarkozy, whose country holds the EU's rotating presidency, saying: "We want to change the rules of the game". The US, however, has been more lukewarm on the possibility of radical change.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Who are the Architects of Economic Collapse? Will an Obama Administration Reverse the Tide? Global Research (November 9, 2008) - Most Serious Economic Crisis in Modern History

The October 2008 financial meltdown is not the result of a cyclical economic phenomenon. It is the deliberate result of US government policy instrumented through the Treasury and the US Federal Reserve Board. This is the most serious economic crisis in World history. 

The "bailout" proposed by the US Treasury does not constitute a "solution" to the crisis. In fact quite the opposite: it is the cause of further collapse. It triggers an unprecedented concentration of wealth, which in turn contributes to widening economic and social inequalities both within and between nations. 

The levels of indebtedness have skyrocketed. Industrial corporations are driven into bankruptcy, taken over by the global financial institutions. Credit, namely the supply of loanable funds, which constitutes the lifeline of production and investment, is controlled by a handful of financial conglomerates. 

With the "bailout", the public debt has spiraled. America is the most indebted country on earth. Prior to the "bailout", the US public debt was of the order of 10 trillion dollars. This US dollar denominated debt is composed of outstanding treasury bills and government bonds held by individuals, foreign governments, corporations and financial institutions. 

"The Bailout": The US Administration is Financing its Own Indebtedness

Ironically, the Wall Street banks --which are the recipients of the bailout money-- are also the brokers and underwriters of the US public debt. Although the banks hold only a portion of the public debt, they transact and trade in US dollar denominated public debt instruments Worldwide. 

In a bitter twist, the banks are the recipients of  a 700+ billion dollar handout and at the same time they act as creditors of the US government. We are dealing with an absurd circular relationship: To finance the bailout, Washington must borrow from the banks, which are the recipients of the bailout.

The US administration is financing its own indebtedness. Federal, State and municipal governments are increasingly in a straightjacket, under the tight control of the global financial conglomerates. Increasingly, the creditors call the shots on government reform. The bailout is conducive to the consolidation and centralization of banking power, which in turn backlashes on real economic activity, leading to a string of bankruptcies and mass unemployment.

Will an Obama Administration Reverse the Tide?

The financial crisis is the outcome of a deregulated financial architecture. Obama has stated unequivocally his resolve to address the policy failures of the Bush administration and "democratize" the US financial system. President-Elect Barack Obama says that he is committed to reversing the tide: 

"Let us remember that if this financial crisis taught us anything, it’s that we cannot have a thriving Wall Street while Main Street suffers. In this country, we rise or fall as one nation, as one people." (President-elect Barack Obama, November 4, 2008, emphasis added)

The Democrats casually blame the Bush administration for the October financial meltdown. Obama says that he will be introducing an entirely different policy agenda which responds to the interests of Main Street:

"Tomorrow, you can turn the page on policies that put the greed and irresponsibility of Wall Street before the hard work and sacrifice of men and women all across Main Street. Tomorrow you can choose policies that invest in our middle class and create new jobs and grow this economy so that everybody has a chance to succeed, from the CEO to the secretary and the janitor, from the factory owner to the men and women who work on the factory floor.( Barack Obama, election campaign, November 3, 2008, emphasis added)

Is Obama committed to "taming Wall Street" and "disarming financial markets"? Ironically, it was under the Clinton administration that these policies of "greed and irresponsibility" were adopted.

The 1999 Financial Services Modernization Act (FSMA) was conducive to the the repeal of the Glass-Steagall Act of 1933. A pillar of President Roosevelt’s "New Deal", the Glass-Steagall Act was put in place in response to the climate of corruption, financial manipulation and "insider trading" which resulted in more than 5,000 bank failures in the years following the 1929 Wall Street crash.

Bill Clinton signs into law the  Gramm-Leach-Bliley Financial Services Modernization Act, November 12, 1999. Under the 1999 Financial Services Modernization Act, effective control over the entire US financial services industry (including insurance companies, pension funds, securities companies, etc.) had been transferred to a handful of financial conglomerates and their associated hedge funds. Read full story...

| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Obama could reverse Bush orders on drilling, stem cells Breitbart (November 9, 2008) - Barack Obama is looking to reverse executive orders on oil drilling and stem cell research implemented by President George W. Bush, the president-elect's transition team said Sunday.
The move could signal a swift change of course after eight years under the Bush administration, even as top aides stressed Obama's bipartisan aims and predicted the new cabinet could contain familiar faces, particularly at the Pentagon.

Both the incoming Democrats and outgoing Republicans have largely struck a tone of civility, with economic woes and the wars in Iraq and Afghanistan high on the list of priorities ahead of Obama's inauguration on January 20. But as Obama prepared for handover talks at the White House Monday, his transition chief John Podesta signaled that Obama could wipe away some hallmarks of the Bush years, including a ban on embyronic stem cell research and moves to open new lands to oil drilling. "I think across the board, on stem cell research, on a number of areas, you see the Bush administration, even today, moving aggressively to do things that I think are probably not in the interest of the country," Podesta told Fox. "We're looking at -- again, in virtually every agency to see where we can move forward, whether that's on energy transformation, on improving health care, on stem cell research," he said.

Podesta, who also served as White House chief of staff under president Bill Clinton, said he would not "preview decisions that he (Obama) has yet to make." However he pointed out that "as a candidate, Senator Obama said that he wanted all the Bush executive orders reviewed, and decide which ones should be kept, and which ones should be repealed, and which ones should be amended." Among the measures that Podesta raised were the Bush administration's move to authorize oil and gas drilling in the western state of Utah, and embryonic stem cell research which Bush has limited because he views it as destruction of human life. Obama is "a transformational figure, and I think he's going to transform the way government acts as we move forward," Podesta said.

Meanwhile the Democrat, who has already appointed a chief of staff and is mulling options for key posts in treasury and defense, is busily crafting a diverse cabinet, his transition team co-chair Valerie Jarrett said. "Throughout the campaign, president-elect Obama has talked about the importance of bipartisanship," she told NBC. "I'm confident his administration will include people from all perspectives," said Jarrett, a close aide to Obama who served as his Senate campaign finance director in 2004.

With the US military engaged on two fronts in Iraq and Afghanistan, a key question has been whether Obama would keep on Defense Secretary Robert Gates. "I think everything is a possibility right now," Jarrett said when asked if the new administration would consider keeping Gates in his post.

Jarrett also defended Obama's pick of tough-talking Congressman Rahm Emanuel as his chief of staff, saying he brought political savvy to the incoming administration. "No one can hit the ground running faster than Rahm Emanuel. He embraces president-elect Obama's philosophy. He's going to do an outstanding job," she said. House minority leader John Boehner has assailed Emanuel as an "ironic choice for a president-elect who has promised to change Washington, make politics more civil, and govern from the center."

Bush's chief of staff Josh Bolten said the White House was also working hard to ensure a seamless transition. "Because if a crisis hits on January 21, they're the ones who are going to have to deal with it. We need to make sure that they're as well prepared as possible," Bolten said on C-Span.

On Saturday, Bush applauded Obama's election victory as a "triumph" and said "he can count on my complete cooperation as he makes his transition to the White House." But while the president and president-elect have taken the high road, partisanship has not entirely disappeared among lawmakers, as Democrats revel in the seats they snatched from Republicans in the House of Representatives and Senate in last week's election. Asked whether he agreed with the notion of keeping Gates as defense secretary, Senate Majority leader Harry Reid said on CNN: "Sure. I think we need a good transition there." "Why wouldn't we want to keep him? He's never been a registered Republican," he added.
| America |

Iran Challenges Obama by Hiking Tensions on Israel’s Borders DEBKAfile (November 8, 2008) - The strategy the Islamic regime has charted for the new US president hinges on fanning tensions on Israel’s northern and southern borders while putting a damper on the various Middle East peace initiatives. Syria was therefore discouraged from returning to its indirect peace track with Israel and Hamas ordered to boycott Egypt’s bid to patch up the quarrel between the Palestinian factions Hamas and Fatah.

Tehran’s object is to show Barack Obama who holds the whip hand in the Middle East and force him to seek urgent talks to defuse rising tensions.

At his first news conference as president elect, Obama said Friday, Nov. 7, that Iran’s pursuit of nuclear weapons was “unacceptable” and its support for terrorist organizations “must cease.” He ducked a reporter’s question about whether he had read the letter of congratulation sent him by Mahmoud Ahmadinejad and when he would answer. But Iran had already laid out its strategy for the incoming president, jumping in the day before the US presidential election.

Foreign minister Manouchehr Mottaki arrived in Damascus on Nov. 3 with a briefing for Syrian president Bashar Assad. According to our Middle East sources, Mottaki said Tehran would enter into dialogue with the new US president only from a position of political and military strength and did not propose to await Obama’s convenience until he took office in the White House on Jan. 20.

Iran’s rulers want to force the new US president to seek them out for a back-door channel of communications, in the same way as Ronald Reagan did while Jimmy Carter was still president to solve the 1980 hostage crisis in Tehran. They plan to make him come to them by raising tensions to crisis level.

While avoiding an explicit order to halt the Syrian-Israel talks, Mottaki gave Assad to understand that he must keep Tehran in the picture on their progress and goals. Better they should lead nowhere. This would fit in with Iran’s intention of putting on the table an impressive crisis package including Syria, Lebanon and the Palestinians and so force the new US administration to accept the Islamic republic as the prime power in the region.

To drive this home, they are stirring the pot wherever they can.

DEBKAfile’s Exclusive military sources disclose that Iranian agents, aided by Hizballah, are enlisting Palestinian militias in the big Lebanese Ain Hilwa refugee camp near Sidon and other camps for terrorist missions on Israel’s northern border.

The Israeli government has watched what was going on but done nothing. But US military and intelligence were concerned enough to warn Palestinian leader Mahmoud Abbas that he had better act fast before his Fatah faction lost Ain Hilwa. This happened shortly before US Secretary of state Condoleezza Rice departed for the Middle East Quartet’s Sharm el-Sheikh meeting Sunday, Nov. 9.

Abbas reacted by sacking Sultan Abu Al Aynayn, the veteran Fatah chief for all the refugee camps in Lebanon, and appointing the Palestinian general Kemal Midhath in his stead. But our counter-terror sources strongly doubt that the new man can stem the defections of Palestinian militias from Fatah and halt Iran’s and Hizballah’s takeover of the Ain Hilwa camp – especially since, according to the latest US intelligence information, Col. Al Aynayn had already been bought.

In Gaza, Israeli forces last week pre-empted in the nick of time a Hamas cross-border kidnap operation by means of a tunnel leading under the border fence. Hizballah’s abduction of two Israeli soldiers, the late Ehud Goldwasser and Eldad Regev in July 2006 triggered a full-scale war with Israel. The tunnel was destroyed but Hamas and Jihad Islami have maintained a four-day missile barrage against Israel.

In the diplomatic arena, Saturday, Nov. 8, Hamas suddenly announced a boycott of the oft-postponed Egyptian bid. It had been finally scheduled to take place in Cairo Monday, Nov. 9, to bring Hamas and Fatah together in Cairo for a power-sharing deal to bury the hatchet after three years.

This event was also intended to demonstrate to the Middle East Quartet that Egypt was back at center stage in the Middle East and had succeeded in drawing Hamas out of the radical Iranian orbit to embrace Palestinian unity and give the Quartet’s peace effort a major boost.

But Tehran was ahead of Cairo. Last Tuesday, Hamas leaders, including Khaled Meshaal, were given their orders from the Iranian foreign minister to boycott the Cairo talks. Following his script, a smiling Meshaal told a Sky interviewer: “If the new US president wants a role in the Middle East, he has no choice but to talk to us because we are the real force on the ground.”

By Saturday, Nov. 8, therefore, with missiles already flying from Gaza, Tehran had managed to spoil the last Middle East journey to be undertaken by Condoleezza Rice as secretary of state, and tip over Egypt’s Palestinian mediation bid and the prospects of Syrian-Israel talks. Still to come is a Lebanese-Israeli border flare-up - for which Tehran has already enlisted Hizballah and Lebanese Palestinian militias.
| Iran | Israel | Islam | America |

World has 100 days to fix crisis: EU leaders Economic Times (November 8, 2008) - European Union leaders backed a 100-day deadline by which the world's leading economies should decide urgent global finance reforms, French President Nicolas Sarkozy said on Friday. Sarkozy, who chaired a special meeting of EU nations, said the financial crisis and economic downturn required a quick deal on an overhaul at a Nov 15 summit in Washington bringing together leaders of the world's 20 largest industrialized nations and emerging economies. "We are in an economic crisis. We have to take this into account," Sarkozy said. "We have to react and we have no time to lose." "I'm not going to take part in a summit where there is just talk for talk's sake," Sarkozy told reporters after talks between the heads of the EU's 27 nations.

The EU is calling for a second global summit next spring to flesh out changes to the way the world economy is governed. They want to see far more supervision of big financial companies and are urging governments to jointly monitor them. They want to prevent a repeat of the Wall Street excesses that caused havoc in markets worldwide, and are bringing emerging economies China, India and Brazil on board for talks on shaping a new world economic order.

British Prime Minister Gordon Brown said the Washington talks should be a "decisive moment for the world economy." A text agreed by EU leaders says they want an early warning system that would watch for financial bubbles and prevent "world imbalances'', such as the swelling US trade deficit. They also suggest making the International Monetary Fund the world's financial watchdog, suggesting it be given more power to curb financial crises and give more money to aid countries in trouble.

The Europeans also want to close loopholes that allow some financial institutions to evade regulation, and ensure supervision for all major financial players, including ratings agencies or funds carrying high amounts of debt. The leaders in a declaration called for greater transparency in markets that would no longer omit "vast swathes of financial activity from auditable, certifiable accounts." It also said "excessive risk-taking must be overhauled," a reference to the sale of high-risk debt securities and executive pay that may reward risk-taking.

EU leaders will call on the Nov 15 summit to agree immediately on five principles: submit ratings agencies to more surveillance; align accounting standards; close loopholes; set banking codes of conduct to reduce excessive risk-taking; and ask the International Monetary Fund to suggest ways of calming the turmoil. To date, European governments alone have committed some 2 trillion euros ($2.6 trillion) in cash injections, bank deposit guarantees, interbank loan coverage and partial or full nationalization to prop up consumer and business confidence.

The damage done worldwide is fueling a search for a "new Bretton Woods", a reference to the post-World War II conference that shaped the international financial system. In Washington, there is little desire in the waning days of the Bush administration for a major overhaul of financial regulations. But the United States and European nations are no longer the only players. China and Brazil and India are jumping at the chance to join a major international effort.

G-20 finance officials nations will meet this weekend in Sao Paulo, Brazil, to prepare next week's summit. This may pave the way for emerging economies to play a larger role in global finance talks. France is suggesting bring them on board as members of the exclusive world club of G-8 industrialized nations which regularly meets to discuss the global economy.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Europe unveils its vision for global financial reform EU Observer (November 7, 2008) - EU leaders have agreed on a set of principles that should guide future talks on the reform of the global financial architecture, urging for more regulation and transparency in the sector that has delivered the world's biggest economic crisis since the Great Depression of the 1930s. "No financial institution, no market segmentation and no jurisdiction must escape proportionate and adequate regulation or at least oversight," states the document adopted at an extraordinary summit on Friday (7 November).

The list of desired measures will be presented at the G20 summit of industrialised and emerging economies on 15 November in Washington. The measures includes a call for transparency of financial transactions through revised accounting standards, an early warning system to tackle risks and a central role for the International Monetary Fund (IMF) "in a more efficient financial architecture."

"We don't want to move from the total lack of regulation to too much regulation," said French President Nicolas Sarkozy whose country currently holds the six-month presidency of the 27-strong Union.

He admitted that the three-hour debate with his EU counterparts was "pretty intense" but it did amount to a "united message" that they will send to other world powers next week.

"We will be defending a common position, a vision for restructuring our financial system," said the French leader.

Both Sweden and Britain reportedly expressed some unease about too much pro-regulation activism on France's part. German Chancellor Angela Merkel said that the EU agreed there would be no place for protectionism in the global talks next week.

The EU's scenario also included a chapter about the need to overhaul pay policy for company executives. UK Prime Minister Gordon Brown said that the issue of executive remuneration is "important and should be linked to long-term performance," although he did not endorse Belgian plans to limit executive pay-outs to a maximum of 12 months' salary.

"We are not for interventionism, we are for a good performance of the markets, we are for a social economy of the markets," commented European Commission President Jose Manuel Barroso.

Great expectations

Mr Sarkozy said that he had spoken to both outgoing US President George W Bush and his successor, Barack Obama, about next week's meeting in Washington. The document endorsed by all EU leaders states that within 100 days of the top-level global talks, measures to implement the principles desired by Europe should be drawn up. "It has to be a real historic meeting," said Mr Barroso.

The French leader argued that additional countries, such as Spain and the Netherlands, should be invited to the G20 meeting, adding that Paris, which as both a G7 member and current chair of the six-month rotating EU presidency temporarily has two seats at such meetings, will offer one of its two places to Madrid.

Meanwhile, Jean-Claude Juncker, Luxembourg's premier and finance minister as well as president of the Eurogroup, said he requested on Friday a single seat for the eurozone countries within the international financial institutions, with non-euro countries represented separately.

But he admitted that his idea was "too difficult for prime ministers to cope with", yet maintained confidence that this would happen eventually, as most of the EU countries, including the UK, will be part of the eurozone in 10 years.

He said he was "not offended" for not having been invited to the G20 meeting on 15 November - a day he would instead spend "between his bedsheets." Still, he criticised the fact that the EU has the tendency to be "over-represented" in the financial institutions, noting that the European Commission was not a G20 member, but will still take part in the global talks.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Dollars lining up for 'civilian national security force'? WorldNet Daily (November 6, 2008) - President-elect Barack Obama raised questions during an election campaign stop in Colorado Springs when he asserted the U.S. needs a "civilian national security force" that would be as powerful, strong and well-funded as the Army, Marines, Navy and Air Force, but few of those questions have been answered.

But now one report is proposing a possible solution for part of the equation: From where would the money for such an organization come? Democrats in Congress now are floating the idea of cutting U.S. military spending by 25 percent, or $150 billion a year, and according to a report from blogger Jay Tea, that could be used for the new "security force." The idea to cut the military, proposed by Rep. Barney Frank, already is being opposed by Republicans.

Frank, D-Mass., recently told a newspaper the Pentagon will have to start choosing the cuts from its weapons programs because he wants to slash more than $150 billion from the estimated $607 billion in defense spending already approved for fiscal year 2008. U.S. Rep. Roscoe Bartlett, R-Md., argued America now is fighting terror worldwide, including active wars in Afghanistan and Iran, and that has stretched the capabilities of the military already. He warned cutting funding in such a drastic way would be irresponsible. "You know if we don't make the right decisions about the military nothing else will matter will it? Because if we don't have a free country then you know what do these other programs matter at all? That's the number one responsibility," he said.

The blogger, however, saw the plan linked this way: "Representative Barney Frank, apparently not content with his role in wreaking havoc on the nation's financial system, has announced that he will push for a 25 percent cut in defense spending. This could actually work hand-in-hand with one of Obama's proposals for a 'civilian National Security Force,' which he said would be as well-funded as the military. If the defense budget is slashed, then it makes it easier to fund a new organization at the same level."

On the FamilySecurityMatters.org website, blogger Peter Gadiel lamented the lack of information about Obama's plan and its accompanying implied threat. "Such an outfit would be worse than useless in any foreign action. Its only possible use could be for domestic purposes. Since we already have police forces, and the National Guard what could a 'Domestic National Security Force' possibly be used for? Suppressing dissent? We simply do not know," he wrote. It was in a July speech in Colorado Springs that Obama insisted the U.S. "cannot continue to rely only on our military in order to achieve the national security objectives we've set." A video of his comments is here:

Obama spokesmen have declined to return WND calls requesting an explanation. Joseph Farah, founder and editor of WND, used his daily column first to raise the issue and then to elevate it with a call to all reporters to start asking questions about it. "If we're going to create some kind of national police force as big, powerful and well-funded as our combined U.S. military forces, isn't this rather a big deal?" Farah wrote. "I thought Democrats generally believed the U.S. spent too much on the military. How is it possible their candidate is seeking to create some kind of massive but secret national police force that will be even bigger than the Army, Navy, Marines and Air Force put together? "Is Obama serious about creating some kind of domestic security force bigger and more expensive than that? If not, why did he say it? What did he mean?" Farah wrote.

His call generated intense Internet discussions. The Blue Collar Muse blog commented, "In 2007, the U.S. Defense budget was $439 billion. Is Obama serious about creating some kind of domestic security force bigger and more expensive than that? The questions are legion and the implications of such an organization are staggering! What would it do? According to the title, it's a civilian force so how would it go about discharging 'national security' issues? What are the Constitutional implications for such a group? How is this to be paid. … The statement was made in the context of youth service. Is this an organization for just the youth or are adults going to participate? How does one get away from the specter of other such 'youth' organizations from Nazi Germany and the former Soviet Union when talking about it?"

Obama's Colorado Springs speech was about a "call to service." WND also reported Obama's "Universal Voluntary Public Service" program promoted on his campaign website. According to an editorial in Investor's Business Daily, Obama plans to use an existing group called Public Allies as a model for his national effort. "Big Brother had nothing on the Obamas," said IBD. "They plan to herd American youth into government-funded re-education camps where they'll be brainwashed into thinking America is a racist, oppressive place in need of 'social change.'"
| NewWorldOrder | America |

3 'Superbanks' Now Dominate Industry MSNBC (November 6, 2008) - The financial crisis that has been sweeping the globe has reshaped nearly every corner of the economy, but no industry has been altered more radically than banking. Several of the nation's biggest banks have failed or been absorbed by healthier institutions, leaving three giant "superbanks" with an unprecedented concentration of market power: Bank of America, JPMorgan Chase and Wells Fargo. While that may be good news for emerging giants and the failing companies they helped rescue, the new oligopoly raises troubling questions about regulation and competition, analysts and consumer advocates say.

"Bank fees are going up, up, up, and that’s the danger to consumers as more of these banks consolidate,” says Sally Greenberg, executive director of the National Consumer League. “It’s difficult for the average person to get a bank account that doesn’t involve fees, and if you get into financial distress you’re cooked, and you’ll be ‘fee-ed’ to death.” According to a recently released banking fee study from Bankrate.com, ATM surcharges rose 11 percent this year to an average of $1.97, and the fee for a bounced checks rose 2.5 percent to an average $28.95. "Consumers are going to be victims of higher and more punitive fees,” Greenberg predicts.

Moreover, many analysts worry about how federal and state authorities, who were unable to prevent the current financial industry meltdown, will be able to monitor the new giant banks that combine a wide range of operations from investment banking to consumer lending. “Large institutions are impossible to manage prudently, let alone regulate,” says Amar Bhide, a professor at the Columbia Business School. In fact, existing federal banking laws say that no bank can have more than 10 percent of the domestic deposit market — a threshold recently surpassed by all three superbanks.

When asked whether the government would take any action, a Justice Department official was noncommittal. “It’s always something we’ve looked at and will continue to look at," said spokeswoman Gina Talamona. "It’s something we’ve looked at as part of our general antitrust review.”

The reason limits on market share were put in place were so banks didn’t get so big they’d become monopolies that could risk the whole economy, explains Atul Gupta, finance department chair for Bentley University in Boston. But now the government appears to be pushing banks in the direction of more consolidation. The Treasury is pouring some $250 billion of taxpayer money into healthy financial institutions, and some of that is being used by stronger banks to snap up weaker rivals. “The government is convinced that allowing any of these firms to fail would have catastrophic implications,” says Gupta. “So the government is saying, ‘This bank is in trouble, so I want this bank to buy that one.’ And everyone holds their noses and hopes things work out.”

In the current environment, such rapid consolidation is a “no brainer," says Gregory F. Udell, Chase Chair of Banking and Finance at the Indiana University Kelley School of Business. The risk of creating monopolies, he says, “is a lot less than the risk of having a lot of zombie institutions out there.” He also points out that consolidation in the banking sector, though recently at a fever pitch, is nothing new. Indeed, the number of commercial banks and savings & loans in the United States has fallen in the past 20 years to 8,451 as of June, compared to 16,574 in 1988, according to FDIC data.

Espen Eckbo, finance professor at Dartmouth’s Tuck School of Business, believes economies of scale will only help the troubled financial sector. He maintains the banking sector got into trouble because of out-of-control risk taking — not because banks got too big. His answer: “We need to educate the boards of these banks that ultimately are supposed to be a stopgap for these things. They need to have a bird’s-eye view of the organization and understand if the left arm is taking on debt while the right arm is taking on debt. They have to oversee that.” But some analysts are arguing that the current wave of consolidation could be followed by a move to break up the biggest banks. Read full story...

In a recent congressional hearing, Nobel Prize-winning economist Joseph Stiglitz said the consolidation of the banking industry is "a very serious problem." I think it’s part of a general failure to enforce antitrust laws in the last few years. So one of the things I think is part of your exit strategy is that we have to think about breaking up some of the big banks.” Even American Banker, which covers the industry, predicts in a story titled “Pressure Builds to Corral the Giant Firms” that “the financial services companies considered ‘too big to fail’ may face a political backlash next year.”

Another major issue will be how successfully these merged banks will be able to integrate their operations, from staffing to technology. Even in the best of circumstances where companies have months to plan for a merger things can go awry, says Carol M. Beaumier, executive vice president of global industry programs at Protiviti, a business consulting and internal audit firm. “The level of due diligence and planning doesn’t exist,” says Beaumier of the rapid consolidations that have resulted from the financial meltdown. “We are creating a daunting task for companies that have to carry out these mergers. It creates uncertainty among employees (and) customers, and the government will be looking over its shoulder.”

Good employees at some of these institutions may be lost in the shuffle because, she says, “You don’t have time to prepare and identify those key performers.” As they grow, the megabanks could end up shooting themselves in the foot when it comes to service, says Standard & Poor’s analyst Stuart Plesser. “When they get really big they may lose some relationships in the end because there’s certainly some impersonal banking going on when they get that big,” he says.

The National Consumer League’s Greenberg believes government should move quickly to keep banking fees down for consumers, just as Congress capped executive compensation as part of the bailout bill. “The system isn’t working now, and all this consolidation means less competition,” she says. “It is incumbent on regulators and Congress to step in and say, ‘Wait a second. You don’t get to impose exorbitant fees.'” “These banks have to get away from a business plan that’s based on fines and penalties, she adds, “and get back to providing consumers, farmers and small businesses credit at a reasonable rate that serves both the lender and the borrower.”

Until a new administration takes action, consumers and small businesses can always vote with their feet and use a smaller, community bank. “Many consumers (are) turning to local banks, saying, 'I’m much more comfortable having my money with you,’” says Nancy Atkinson, senior analyst with Aite Group, a research firm that covers the financial services industry. “And small businesses say, 'I know my local banker, and I trust that person.’”

| NewWorldOrder | America | Economic Crisis |

Obama and EU to reinvent global politics, pundit says EU Observer (November 6, 2008) - The Obama administration will play a big role in "reinventing" the international system, especially on the financial side, in strong partnership with the EU, US foreign policy expert David J. Rothkopf said on Wednesday.

A former trade offical in the Clinton administration and a consultant on foreign affairs and emerging markets, Mr Rothkopf was talking from Washington during a video-conference organized by the Brussels branch of the Carnegie Endowment for International Peace, an international think-tank associated with the US State Department. "President Obama will play a bigger role in re-inventing the international system than any other president before in past decades," Mr Rothkopf argued, with a number of organisations and treaties badly needing an "update" or to be replaced altogether – ranging from the stalled Doha round of trade talks known to the non-proliferation treaty, as well as outdated bodies such as the G7 or the International Monetary Fund that don't include the emerging economies such as China.

US-EU relations will "clearly" improve, with a second trip to Europe probably taking place in the first months of his mandate, Mr Rothkopf said. The tendency of the Democratic Party to be "more comfortable" with multi-lateralism and listening to its European partners will also contribute to improving relations, he said. But there was also a "necessity" for this partnership to improve, Mr Rothkopf argued. "We can't do things alone, we need partnerships and burden sharing. I would expect a debate within NATO about a broader role and sense of burden sharing," he said, mentioning Afghanistan as an example where European help is needed. "Problems within Europe are going to have an impact on this as much as US obligations are, to the extent that the EU is divided on some of the big issues of the time and on the nature of the common foreign policy and common defence policy," Mr Rothkopf added.

New global financial regulator and IMF reform

Mr Rothkopf emphasised the need for a global financial regulator – something the G20 meeting in Washington on 15 November is still unlikely to agree upon, with the outgoing Bush administration opposing this idea and the Obama team yet not in charge. But G20 leaders would probably agree to meet again in the first months of 2009, when both the creation of such a body, as well as the reform of the IMF could take a more concrete shape.

He spoke of a "regulatory renaissance" and of of "fusion capitalism", by which he means seeing European and Asian visions of capitalism and how markets are to be regulated take greater prominance on the international stage, and not just the so-called Washington Consensus. Yet on the down side, Mr Rothkopf warned against "blazing new trails on protectionism" that would isolate economies and only aggravate problems.

In terms of what a global financial regulator would look like, Mr Rothkopf mentioned the EU as an example of "creating super-national structures," while also noting the problem of enforcement. "Getting everybody in a room and agreeing on principles is easy – this is what we are probably going to get on 15 November – but next year we'll see whether we'll get institutions that have the ability to enforce new global standards on the international financial markets. That's going to be the challenge," he said.

Any financial agreement would also foresee a leadership role for the US, in coalition with the EU and other countries, Mr Rothkopf projected.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

I'm brought back to what Glenn Beck spoke of regarding Biden's comments on a coming test by the world and global financial decisions that Obama would need their support on (October 20, 2008), even though it may seem like the wrong decision at the time. Be careful what you ask for America... you'll get it. Further global cooperation in these matters means America will essentially be under the same thumb as the rest of the world financially and part of building and implementing that system.

Javier SOLANA, EU High Representative for the CFSP, congratulates Barack Obama on his election as President of the United States of America Council of the European Union (November 5, 2008) - Javier SOLA9A, EU High Representative for the Common Foreign and Security Policy (CFSP), made the following statement today following the Presidential elections in the United States of America :

"I want to congratulate Barack Obama on his impressive election victory. Elections are about political renewal. The campaign has been exciting and uplifting and the turnout impressive. The sense of renewal also applies to the transatlantic relations. Europeans and Americans are keen to open a new chapter in their relations.

President-elect Obama ran on a ticket of change. This is most welcome since many things in the world today need changing. Let us do that together.

Europe is willing and able to help. There is a high number of very complex global problems: from the Middle-East to Iran and Afghanistan and Pakistan, from climate change to nonproliferation. We need to address those problems together with determination and creativity.

President-elect Obama personifies what is good and impressive about America. He also personifies today's complex and globalized world where change is a constant. As we grapple with these problems, it is good to have someone who put change, empathy and good judgement at the heart of his campaign.

I am looking forward to working with President Obama and his administration."
| EU/UN / 4th Kingdom | Solana | America |

Ron Paul Warns Of Great Shift Toward Global Government Under Obama Infowars (November 5, 2008) - Texas Congressman and 2008 presidential candidate Ron Paul has warned that the euphoria surrounding the election of Barack Obama combined with the overwhelming fear of major international crises could facilitate a cataclysmic shift toward a new world order.

Appearing live on the Alex Jones show earlier today, the Congressman spoke of a feeling of dread surrounding the change of guard both in the White House and on Capitol Hill: "I do feel it but I don't think it's brand new, I didn't wake up with it, I've had it for a while, I don't think the election was a surprise, but the rhetoric is getting pretty strong and they are getting very bold." he commented.

Speaking on the stage management of the election, and calling it a "huge distraction" from real issues, the Congressman outlined how both candidates were pre-positioned by the elite interests with the knowledge that either would satisfactorily serve their agenda: "I think McCain was obviously a back up candidate in case something happened where Obama didn't win, they'd have been satisfied with McCain, but they have been positioning Obama for a long long time." "This started even before he announced he was running. Anybody who would have gotten that much favorable coverage for so long, you know that the plans are laid for him to be the individual that's going to be taking care of the corporate elite." the Congressman continued.

Paul also warned that Democrats gains within the House and the Senate make for a particularly worrying situation of absolute power, similar to that held by the Republican party eight years ago. "Just as a Republican Congress wouldn't say boo to a Republican Congress, you know that the Democratic Congress is NEVER going to stand up." "I think it is very dangerous and the first year is going to be the most dangerous year." Paul stated. "Just think of Bush's first year, he also had the 9/11 thing that he could use to scare everybody to death. And Obama will use the financial crisis, which will get worse, and there will be more military skirmishes around the world." Paul asserted. The Congressman also warned that many Republican representatives may go along with Obama just to win favor with the electorate and be seen to follow popular opinion.

Commenting on the much touted "International crisis" that luminaries such as Colin Powell, Joe Biden and Zbigniew Brzezinski have all guaranteed will occur within weeks of Obama entering the White House, the Congressman stated that he believes it may be a catalyst for a shift toward world government: "I think it's going to be an announcement of a new monetary order, and they'll probably make it sound very limited, they're not going to say this is world government, even though it is if you control the world's money and you control the military, which they do indirectly." "A world central bank, worldwide regulation and world control of the whole system, of all the commodities and all the natural resources, what else can you call it other than world government?"

"Obama wouldn't be there if he didn't toe the line, and when the meeting starts on November 15th for the new monetary system, this could be the beginning of the end of what's left of our national sovereignty." Paul said, also warning that the global media are already hailing Obama as the world's leader.

With Obama having previously announced that he will shift military attention to Pakistan, the Congressman also warned that the president elect will, thanks to the previous administration, have the necessary precedent to escalate the war on terror: "It's the philosophy of the Bush doctrine, which was that we have the right to preemptively strike anybody and then he even expanded that recently by saying we don't have to invade and conquer, but we have the right to go in and bomb anybody without their permission, and that's why we go into Pakistan and Syria, which are acts of war. So they have the tools to do it and the sentiment and most Americans are oblivious to what is happening."

Paul also suggested that any escalation could be facilitated by false flag events such as Gulf of Tonkin style incidents. Urging listeners not to lose faith in the campaign for liberty and the quest to restore and the Republic, Ron Paul spoke of reason to look ahead: "We have to look for sources of optimism... ultimately though all that happens to us is a result of philosophy and beliefs and convictions and that is where I think we have made some inroads. We have drawn attention to the importance of monetary policy, the importance of the central bank, the importance of how government causes so much problems, it's just that we're in the minority." Paul said.

"We have to continue to do what we are doing, you are in the business of passing on and spreading information, that, to me, is most crucial, getting more people engaged, more people understanding what the issues are, nothing else is more important than that. Then when you see an opportunity we have to turn this into political action." the Congressman concluded.
| NewWorldOrder | America | Economic Crisis |

U.S. Treasury teaches 'Islamic Finance 101' WorldNet Daily (November 5, 2008) - The Treasury Department has announced it will teach "Islamic finance" to U.S. banking regulatory agencies, Congress and other parts of the executive branch today in Washington, D.C. – but critics say it is opening a door to American funding of Islamic extremism.

'Islamic Finance 101'

According to its announcement, the "Islamic Finance 101" forum is "designed to help inform the policy community about Islamic financial services, which are an increasingly important part of the global financial industry." The Treasury Department has collaborated with Harvard University's Islamic Finance Project to coordinate the event. The department says it expects about 100 people will attend the seminar. Some speakers include Assistant Secretary of the Treasury Neel Kashkari, senior adviser to Treasury Secretary Henry Paulson, Jr.; Harvard Business School professor Samuel Hayes; Mahmoud El-Gamal, chair of Islamic economics, finance and management at Rice University and Islamic finance adviser to the Treasury Department; Sarah Bell of the Federal Reserve Bank of New York; Yusuf Talal DeLorenzo, Shariah adviser and Islamic scholar; Michael McMillan, chair of the Islamic Legal Forum at the American Bar Association and professor of Islamic finance; and Rushdi Siddiqui, global director for the Dow Jones Islamic Market Indexes and vigorous advocate for Islamic finance.

Islamic finance is a system of banking consistent with the principles of Shariah, or Islamic law. It is becoming increasingly popular, having reached $800 billion by mid-2007 and growing at more than 15 percent each year. Wall Street now features an Islamic mutual fund and an Islamic index. However, critics claim anti-American terrorists are often financially supported through U.S. investments – creating a system by which the nation funds its own enemy.

Aiding the enemy

In his essay, "Financial Jihad: What Americans Need to Know," Vice President Christopher Holton of the Center for Security Policy writes, "America is losing the financial war on terror because Wall Street is embracing a subversive enemy ideology on one hand and providing corporate life support to state sponsors of terrorism on the other hand."

Holton refers to Islamic finance, or "Shariah-Compliant Finance" as a "modern-day Trojan horse" infiltrating the U.S. He said it poses a threat to the U.S. because it seeks to legitimize Shariah – a man-made medieval doctrine that regulates every aspect of life for Muslims – and could ultimately change American life and laws.

Shariah-compliant finance is becoming a major movement, because American banks and investors are seeking wealth from oil profits in the Middle East. Some advocates claim Islamic finance is socially responsible because it bans investors from funding companies that sell or promote products such as alcohol, tobacco, pornography, gambling and even pork.

However, Islamic financial institutions also require all industry participants to adhere to tenets of Shariah law. According to Nasser Suleiman's "Corporate Governance in Islamic Banking, "First and foremost, an Islamic organization must serve God. It must develop a distinctive corporate culture, the main purpose of which is to create a collective morality and spirituality which, when combined with the production of goods and services, sustains growth and the advancement of the Islamic way of life." Three nations that rule 100 percent by Shariah law – Iran, Saudi Arabia and Sudan – hold some of the most horrific human rights records in the world, Holton said. "This strongly suggests that Americans should strenuously resist anything associated with Shariah."

Tenets of Shariah

In his essay, "Islamic Finance or Financing Islamism," Alex Alexiev outlined the following tenets of Shariah taken from "The Reliance of the Traveler: The Classic Manual of Sacred Law":

• A woman is eligible for only half of the inheritance of a man
• A virgin may be married against her will by her father or grandfather
• A woman may not leave the house without her husband's permission
• A Muslim man may marry four women, including Christians and Jews; a Muslim woman can only marry a Muslim
• Beating an insubordinate wife is permissible
• Female sexual mutilation is obligatory
• Adultery [or the perception of adultery] is punished by death by stoning
• Offensive, military jihad against non-Muslims is a religious obligation
• Apostasy from Islam is punishable by death without trial
• Lying to infidels in time of jihad is permissible

'Useful idiots'

Alexiev writes that many Islamic financial institutions claim Shariah-Compliant Finance "derives its Islamic character from the strict observance of the ostensible Quranic prohibition of lending at interest, the imperative of almsgiving (zakat), avoidance of excessive uncertainty (gharar) and certain practices and products considered unlawful (haram) to Muslims …" However, he said, "[E]ven a casual examination of the reality of Islamic finance today reveals it to be a bogus concept practiced by deceptive ploys and disingenuous means by practitioners that are or should be aware of that, but remain predictably silent."

Shariah finance institutions that have funded militant Islamism for more than 30 years. Alexiev cites Islamic Development Bank's hundreds of millions of dollars in contributions to Hamas in support of suicide bombing. Bank Al-Taqwa and other banks and charities run by Saudi billionaires have funded al-Qaida activities.

Additionally, Shariah law mandates that Muslims donate 2.5 percent of their annual incomes to charities – including jihadists. When 400 banks regularly contribute to such charities, potential financial sums can be virtually limitless.

If Western banks endorse Shariah, they will "end up becoming what Lenin called useful idiots or worse to the Islamists," Alexiev writes. "And it is a very thin line between that and outright complicity in the Islamist agenda."
| Islam | NewWorldOrder | America | Economic Crisis |

Dems Target Private Retirement Accounts Carolina Journal Online (November 4, 2008) - Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration. Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.

The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for the House Committee on Education and Labor, Ghilarducci proposed that the government eliminate tax breaks for 401(k) and similar retirement accounts, such as IRAs, and confiscate workers’ retirement plan accounts and convert them to universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration.

Rep. George Miller, D-Calif., chairman of the House Committee on Education and Labor, in prepared remarks for the hearing on “The Impact of the Financial Crisis on Workers’ Retirement Security,” blamed Wall Street for the financial crisis and said his committee will “strengthen and protect Americans’ 401(k)s, pensions, and other retirement plans” and the “Democratic Congress will continue to conduct this much-needed oversight on behalf of the American people.”

Currently, 401(k) plans allow Americans to invest pretax money and their employers match up to a defined percentage, which not only increases workers’ retirement savings but also reduces their annual income tax. The balances are fully inheritable, subject to income tax, meaning workers pass on their wealth to their heirs, unlike Social Security. Even when they leave an employer and go to one that doesn’t offer a 401(k) or pension, workers can transfer their balances to a qualified IRA.

Mandating Equality

Ghilarducci’s plan first appeared in a paper for the Economic Policy Institute: Agenda for Shared Prosperity on Nov. 20, 2007, in which she said GRAs will rescue the flawed American retirement income system (www.sharedprosperity.org/bp204/bp204.pdf).

The current retirement system, Ghilarducci said, “exacerbates income and wealth inequalities” because tax breaks for voluntary retirement accounts are “skewed to the wealthy because it is easier for them to save, and because they receive bigger tax breaks when they do.”

Lauding GRAs as a way to effectively increase retirement savings, Ghilarducci wrote that savings incentives are unequal for rich and poor families because tax deferrals “provide a much larger ‘carrot’ to wealthy families than to middle-class families — and none whatsoever for families too poor to owe taxes.”

GRAs would guarantee a fixed 3 percent annual rate of return, although later in her article Ghilarducci explained that participants would not “earn a 3% real return in perpetuity.” In place of tax breaks workers now receive for contributions and thus a lower tax rate, workers would receive $600 annually from the government, inflation-adjusted. For low-income workers whose annual contributions are less than $600, the government would deposit whatever amount it would take to equal the minimum $600 for all participants.

In a radio interview with Kirby Wilbur in Seattle on Oct. 27, 2008, Ghilarducci explained that her proposal doesn’t eliminate the tax breaks, rather, “I’m just rearranging the tax breaks that are available now for 401(k)s and spreading — spreading the wealth.”

All workers would have 5 percent of their annual pay deducted from their paychecks and deposited to the GRA. They would still be paying Social Security and Medicare taxes, as would the employers. The GRA contribution would be shared equally by the worker and the employee. Employers no longer would be able to write off their contributions. Any capital gains would be taxable year-on-year.

Analysts point to another disturbing part of the plan. With a GRA, workers could bequeath only half of their account balances to their heirs, unlike full balances from existing 401(k) and IRA accounts. For workers who die after retiring, they could bequeath just their own contributions plus the interest but minus any benefits received and minus the employer contributions.

Another justification for Ghilarducci’s plan is to eliminate investment risk. In her testimony, Ghilarducci said, “humans often lack the foresight, discipline, and investing skills required to sustain a savings plan.” She cited the 2004 HSBC global survey on the Future of Retirement, in which she claimed that “a third of Americans wanted the government to force them to save more for retirement.”

What the survey actually reported was that 33 percent of Americans wanted the government to “enforce additional private savings,” a vastly different meaning than mandatory government-run savings. Of the four potential sources of retirement support, which were government, employer, family, and self, the majority of Americans said “self” was the most important contributor, followed by “government.” When broken out by family income, low-income U.S. households said the “government” was the most important retirement support, whereas high-income families ranked “government” last and “self” first (www.hsbc.com/retirement).

On Oct. 22, The Wall Street Journal reported that the Argentinean government had seized all private pension and retirement accounts to fund government programs and to address a ballooning deficit. Fearing an economic collapse, foreign investors quickly pulled out, forcing the Argentinean stock market to shut down several times. More than 10 years ago, nationalization of private savings sent Argentina’s economy into a long-term downward spiral.

Income and Wealth Redistribution

The majority of witness testimony during recent hearings before the House Committee on Education and Labor showed that congressional Democrats intend to address income and wealth inequality through redistribution.

On July 31, 2008, Robert Greenstein, executive director of the Center on Budget and Policy Priorities, testified before the subcommittee on workforce protections that “from the standpoint of equal treatment of people with different incomes, there is a fundamental flaw” in tax code incentives because they are “provided in the form of deductions, exemptions, and exclusions rather than in the form of refundable tax credits.”

Even people who don’t pay taxes should get money from the government, paid for by higher-income Americans, he said. “There is no obvious reason why lower-income taxpayers or people who do not file income taxes should get smaller incentives (or no tax incentives at all),” Greenstein said.

“Moving to refundable tax credits for promoting socially worthwhile activities would be an important step toward enhancing progressivity in the tax code in a way that would improve economic efficiency and performance at the same time,” Greenstein said, and “reducing barriers to labor organizing, preserving the real value of the minimum wage, and the other workforce security concerns . . . would contribute to an economy with less glaring and sharply widening inequality.”

When asked whether committee members seriously were considering Ghilarducci’s proposal for GSAs, Aaron Albright, press secretary for the Committee on Education and Labor, said Miller and other members were listening to all ideas.

Miller’s biggest priority has been on legislation aimed at greater transparency in 401(k)s and other retirement plan administration, specifically regarding fees, Albright said, and he sent a link to a Fox News interview of Miller on Oct. 24, 2008, to show that the congressman had not made a decision.

After repeated questions asked by Neil Cavuto of Fox News, Miller said he would not be in favor of “killing the 401(k)” or of “killing the tax advantages for 401(k)s.”

Arguing against liberal prescriptions, William Beach, director of the Center for Data Analysis at the Heritage Foundation, testified on Oct. 24 that the “roots of the current crisis are firmly planted in public policy mistakes” by the Federal Reserve and Congress. He cautioned Congress against raising taxes, increasing burdensome regulations, or withdrawing from international product or capital markets. “Congress can ill afford to repeat the awesome errors of its predecessor in the early days of the Great Depression,” Beach said.

Instead, Beach said, Congress could best address the financial crisis by making the tax reductions of 2001 and 2003 permanent, stopping dependence on demand-side stimulus, lowering the corporate profits tax, and reducing or eliminating taxes on capital gains and dividends.

Testifying before the same committee in early October, Jerry Bramlett, president and CEO of BenefitStreet, Inc., an independent 401(k) plan administrator, said one of the best ways to ensure retirement security would be to have the U.S. Department of Labor develop educational materials for workers so they could make better investment decisions, not exchange equity investments in retirement accounts for Treasury bills, as proposed in the GSAs.

Should Sen. Barack Obama win the presidency, congressional Democrats might have stronger support for their “spreading the wealth” agenda. On Oct. 27, the American Thinker posted a video of an interview with Obama on public radio station WBEZ-FM from 2001.

In the interview, Obama said, “The Supreme Court never ventured into the issues of redistribution of wealth, and of more basic issues such as political and economic justice in society.” The Constitution says only what “the states can’t do to you. Says what the Federal government can’t do to you,” and Obama added that the Warren Court wasn’t that radical.

Although in 2001 Obama said he was not “optimistic about bringing major redistributive change through the courts,” as president, he would likely have the opportunity to appoint one or more Supreme Court justices.

“The real tragedy of the civil rights movement was, um, because the civil rights movement became so court focused that I think there was a tendency to lose track of the political and community organizing and activities on the ground that are able to put together the actual coalition of powers through which you bring about redistributive change,” Obama said.
| NewWorldOrder | America | Economic Crisis |

French EU defence plan is not anti-NATO, minister says EU Observer (November 4, 2008) - The US is still critical of the EU's common security and defence policy, a pet project of the bloc's French presidency, but French interior minister Michelle Alliot-Marie defended the initiative on Monday as not being aimed against NATO.

Challenged by the deputy chairman of the NATO military committee, Lt. Gen. Karl Eikenberrry to explain France's view on the transatlantic link in the enhanced EU security and defence policy, Ms Alliot-Marie said "there are countries who don't have confidence in this [transatlantic] dialogue and believe a strong European security and defence policy is aimed at minimizing NATO, but I believe the opposite." She stressed that the EU is better adapted to deal with certain conflicts, while in others "NATO power" is needed. Both were addressing a 100-odd audience at the "Security and Defence Days" conference in Brussels on Monday evening.

Mr Eikenberry made acidic remarks about the EU's ability to plan, deploy and conduct successful missions, stressing that out of the bloc's 20 missions so far, five were short-term operations in Congo. "I'm not questioning the value of those missions, they were successful in the relief of pressing humanitarian problems, but what is the overarching strategic thinking in the EU with regard to the Congo?"

He also criticized the EU's "overwhelming preference for soft power" and lack of deployable troops despite massive spending on defence. "European security in this century depends on peace and stability abroad. This is a paradigm shift often stated but still not evident in terms of policies and strategic choices. The current European strategy does not articulate clear regional priorities or comprehensive integrated responses to trans-national threats," he said.

The NATO deputy chairman nevertheless underlined that in the US there is openness towards a closer cooperation between his organisation and the European Union. "President's Sarkozy's notion of bringing more Europe into NATO is pushing against a door that is already wide open," he argued.

French defence minister Herve Morin told the Financial Times on Monday that the mood in Washington had changed, after president Sarkozy announced that France would become a full member of NATO. "It took hours of conversation for the Americans to realise that France wasn't trying to set up a rival operation and that European defence could actually bolster the capabilities of the transatlantic alliance as a whole," Mr Morin had told FT.

Mr Morin also criticised British opposition to establishing a headquarters in Brussels for the EU's common security and defence policy (ESDP). "I appreciate British pragmatism but we have a situation where we have numerous headquarters - in Britain, France, Germany, Italy and now even Greece - and that costs us money," he said.

More ESDP even without Lisbon Treaty

Meanwhile, German conservative MEP Karl von Wogau, the chairman of the European Parliament's sub-committee on security and defence argued at a parliament hearing on Monday, that the failure of the Lisbon treaty, rejected in the Irish referendum, is no impediment for building up the ESDP. The treaty would have allowed more EU power in the field of security and defense, which still remains a core competence of national governments, the MEP said. But he referred to the creation in 2004 of the European Defence Agency (EDA), an EU body aimed at helping the bloc's governments to co-ordinate and prioritise defence spending, as an example of how the ESDP can proceed without Lisbon.

Nick Witney, former EDA chief, argued the same line, while praising France's efforts to re-energize the ESDP. He also stressed the need for a common headquarters in Brussels, capable of strategic planning for the EU's different missions.

UK opposes Brussels headquarters

France's push for a common headquarter is being challenged by the UK argument that the EU can draw on NATO's planning capabilities and its 17,000-strong European headquarter in Mons, some 70 km south of Brussels.

This is enshrined in the current EU treaty of Nice, which says that "when a given crisis gives rise to an EU-led operation making use of NATO assets and capabilities, the EU and NATO will draw on the so-called "Berlin Plus arrangements." "These arrangements cover three main elements that are directly connected to operations and which can be combined: EU access to NATO planning, NATO European command options and use of NATO assets and capabilities."
| EU/UN / 4th Kingdom | NewWorldOrder | America |

Obama Tells Abbas: I Support Dividing Jerusalem Israel National News (November 4, 2008) - Democratic presidential candidate Senator Barack Obama privately expressed his support for a new Arab state within Israel's current borders, including eastern Jerusalem, during his meeting with Palestinian Authority Chairman and Fatah leader Mahmoud Abbas in Ramallah this summer.

According to a report published Tuesday in the Lebanese newspaper al-Ahbar, Obama told Abbas that he supports a PA state, and Arab "rights to east Jerusalem" as well. The sources said Abbas and PA Prime Minister Salam Fayyad "heard the best things they ever heard from an American president" during the meeting. However, said sources quoted in the report, the candidate asked them to keep his declaration a secret.

PA spokesman Nimar Hamad said he had no comment on the remarks, other than to describe the briefing Abbas and Fayyad had given to the presidential hopeful. Later official PA reaction to the report categorically denied that Obama had made the statements attributed to him.

"The Palestinian Authority views the American elections as an internal matter and does not favor one person over another," he said in an official statement. "The PA hopes that the next American president will fulfill his commitment towards the Palestinians and pressure Israel."

Abbas, Fayyad and the rest of the Arab world are clearly hoping for an Obama victory, however. Hamas sources quoted in the article said that Arabs fear new wars would break out in the Middle East if Republican candidate Senator John McCain wins, but they believe there will be an official peace agreement with an Obama White House.

Mixed Messages in Gaza

PA Arabs who live in Gaza were reportedly celebrating in the streets with impromptu demonstrations, waving Hamas flags in anticipation of an Obama win, according to Voice of Israel government radio. But officials for the terrorist group that controls the region were skeptical that a change in the White House would lead to a change in facts on the ground. Hamas spokesman Fawzi Barhum was quoted by Voice of Israel as saying that voters who would have to choose between Obama and McCain were being presented with two "awful" options.

The group's Damascus-based political bureau chief, Khaled Mashaal, softened the statement by saying the group is prepared to work with any U.S. president and would welcome any change in American policy, especially if it corrected what he referred to as a "bias" toward the Jewish State.
| Israel | Islam | Dividing the Land | America |

Rebbetzin Esther Jungreis: Prepare for the Coming of Messiah Israel National News (October 27, 2008) - Internationally renowned Jewish inspirational speaker Rebbetzin Esther Jungreis warns that we are feeling the "birth pangs of the Mashiach," with limited time to save ourselves from dark prophecies surrounding his arrival.

In an exclusive interview on Israel National Radio's popular new show Mah Nishma with host Gavriel Sanders, Rebbetzin Jungreis, who is the founder of the successful 'Hineni' Jewish outreach organization and author of many books including the recently published 'Life is a Test: How to Handle Life's Challenges Successfully', addressed the fear that people feel as turbulent global events begin to make their mark on Jews and their allies around the world.

The birthpangs of the Messiah

"Anyone who has been just looking around and has his or her eyes open must be frightened. Things are happening that just don't make sense. Overnight, our cherished institutions, our icons, have collapsed. We don't understand it. People blame this one and that one. It's not just in the United States, it's all over the world, and we have so many natural disasters, and so much illness. What is happening?"

Rebbetzin Jungreis says G-d is bringing the world closer to redemption in a process called "chevlei Mashiach" – the labor pains of the arrival of the Messiah. "Now labor pains, you know, could be very, very painful…as the birth becomes more imminent, the pain becomes more intense, to the point where the mother can not bear it anymore, and just when she thinks she can not bear it, it's 'Mazal Tov!', and the baby is born."

'The generation of the dog'

Based on the writings of ancient Jewish sages, Jungreis concludes that this generation is replete with the signs that are prophesied to hail the coming of the Messiah, including endemic impudence, followership, idol worship, disasters, and war. "All our [sages] agree…they do not want to be present for the chevlei Mashiach, the birth pangs, because the birth pangs are going to be very painful… It's going to be a generation that will abound in chutzpah [audacity]. Chutzpah will be colossal. Families will be fragmented. Children will turn against parents, parents against children. The elderly will not be respected. Youth will be worshipped.

"… The generation will be like the generation of the dog.  What does that mean? The dog runs ahead but always looks back to see if the master is behind him. Similarly, people don't have their own opinions today. What is the media saying? The media is controlling the world…"

According to Rebbetzin Jungreis, the greatest idol worship of this generation is money, an obsession which causes the Western world to ignore the lurking danger posed by Islamist terror against Israel and the United States. "We have been very blessed, perhaps there was never in history such a wealthy Jewish generation as ours was. But there was no Hakaras HaTov, no credit to Hashem. "My strength did all this". We became arrogant, we became chutzpahdik, we forgot Hashem… Imach shemam [their names be obliterated], the sons of Ishmael, every minute it's "Allah". The sons of Esav, "the Lord," every minute. Their leadership is always speaking the name of G-d. Am Yisrael … they heard the word of Hashem panim el panim, face to face - has forgotten its G-d."

The propensity of the world to worship money is so great, says Rebbetzin Jungreis, that the murder of six million Jews during the Holocaust, Iran's effort to attain a nuclear weapon, and the rise of fascist and anti-Western powers can be attributed to it. "[Following the US stock market crash in 1929] America was so absorbed, Hitler had the playground of the world at his disposal, and no one stopped him," she says. "Too late did America and the world wake up. Early thirties – no one intervened with Hitler. They were all absorbed in a financial crisis.

"Fast forward. We have a financial crisis now. Ahmadinejad has the entire world at his disposal, came to New York, made the most toxic, poisonous accusations… if you had made those accusations against Muslims they would have burned down New York City, everyone would have been apologizing. Jews? No problem. He says it, and nobody even looks up, no one looks up. And in addition to him, all the rogue nations, all the demagogues, all the new Hitlers got into the act. Russia woke up again, back to its old tricks, making treaties with Chavez of Venezuela, right here in our own hemisphere. And of course, there is always North Korea. And America is worried about the stock market."

Ahmadinejad, Islamist terror - all part of prophecy

Islamist terror, says Rebbetzin Jungreis, is also predicted in the 9th century (Gregorian calendar) Jewish work, ' Pirkei d'Rabbi Eliezer,' which prophesied that before the coming of Messiah in the end of days, Ishmael – who is described as a brutal, wild man – will rule the world. Rebbetzin Jungreis attributes Arab terror in Israel, the Islamization of Europe, and the welcoming of Iranian President and vocal anti-Zionist Mahmoud Ahmadinejad in New York to the ancient prophetic writing.

"Ahmadinejad comes to New York, and he has the audacity, the chutzpah to proclaim … in public, at the UN, that it's Zionist Jews who are responsible for the financial crisis in the world, that they are manipulating the world, they're controlling the world… And guess what: The entire world is silent, no outcry, no outrage, no one says anything, and he – just for good measure – he adds that Israel is this cesspool that has to be destroyed, annihilated. No outcry, not a word."

Ahmadinejad himself has a role in the unfolding arrival of the Messiah, says Jungreis, and was also predicted to wield lethal power during the end of days. "You know it says in Yalkut Shimoni that right before Mashiach will come, during Chevlei Mashiach, the king of Persia, now what is Persia? Persia is today's Iran. The king of Persia is going to have a weapon that is going to terrorize the entire world."

'Hashem is hiding'

The current low spiritual state of the Jewish People has caused G-d to hide His face from them, says Rebbetzin Jungreis, who says this concealment is meant to provoke the Jewish People to search for Him.

"In parshas Vayelech… Hashem tells Moshe Rabbeinu that in the future, there will come a generation who will forget Hashem, and terrible sufferings will come upon them. And finally they will say 'you know why this is happening? Ein Eloka, G-d is not with us. G-d is not in our midst.' And then it says … " I will continue to hide My face." Dichotomous. If we admit that G-d is not with us, then why is G-d hiding? … That puts the onus of responsibility upon G-d – it's Your fault. You are not with us. We have to say 'We are not with Hashem! We are not with our Torah! We are not with our Mitzvot! We are responsible."'

Rebbetzin Jungreis says G-d's concealment is a crucial element in developing the proper relationship with Him, with the key to understanding it being found in the biblical story of Adam and Chava [Eve].

"What was the first sin of Adam and Chava?. We say that we ate from a fruit that was forbidden? No! Hashem was ready to negotiate that. The first sin was scapegoating!. 'The woman who You gave to be with me, it's her fault, she made me do it.' Not only was Adam scapegoating, he was an ingrate. And Chava, what did she say? 'It was the serpent.' And that's when Hashem said 'That's it. That's it. Out! Gan Eden is over.' And that is what we are doing. But listen to the chesed [kindness] Hashem said. 'I will hide My face.'

"When a mother goes with her toddler to the supermarket, let's say, and the toddler has a temper tantrum, and he doesn't want to go out unless he gets candy, what does the mother do? She says 'Okay, I'm leaving, you will have to stay here by yourself," and she goes away. Is she really going away? Of course not. She is keeping an eye on her baby, but she pretends to go away so the child should seek her out and run after her. So Hashem says 'I'm hiding' but if you're hiding, you want somebody to find you. There's a beautiful mashal [parable] from a Rebbe who was walking on the street and he sees a little boy crying, and he says 'why are you crying my little child?' 'I'm crying because I'm playing hide-and-seek and nobody's looking for me.'… Hashem is hiding, but He wants us to find Him. And we are not looking for Him, so what are we doing? Whose fault was it?" For part two of the article, click here.
| Iran | Israel | Islam | Gog/Magog | America | Economic Crisis |

Romans Chapter 13 Chuck Baldwin (August 10, 2008) - It seems that every time someone such as myself attempts to encourage our Christian brothers and sisters to resist an unconstitutional or otherwise reprehensible government policy, we hear the retort, "What about Romans Chapter 13? We Christians must submit to government. Any government. Read your Bible, and leave me alone." Or words to that effect.

No doubt, some who use this argument are sincere. They are only repeating what they have heard their pastor and other religious leaders say. On the other hand, let's be honest enough to admit that some who use this argument are just plain lazy, apathetic, and indifferent. And Romans 13 is their escape from responsibility. I suspect this is the much larger group, by the way.

Nevertheless, for the benefit of those who are sincere (but obviously misinformed), let's briefly examine Romans Chapter 13. I quote Romans Chapter 13, verses 1 through 7, from the Authorized King James text:

"Let every soul be subject unto the higher powers. For there is no power but of God: the powers that be are ordained of God. Whosoever therefore resisteth the power, resisteth the ordinance of God: and they that resist shall receive to themselves damnation. For rulers are not a terror to good works, but to the evil. Wilt thou then not be afraid of the power? do that which is good, and thou shalt have praise of the same: For he is the minister of God to thee for good. But if thou do that which is evil, be afraid; for he beareth not the sword in vain: for he is the minister of God, a revenger to execute wrath upon him that doeth evil. Wherefore ye must needs be subject, not only for wrath, but also for conscience sake. For this cause pay ye tribute also: for they are God's ministers, attending continually upon this very thing. Render therefore to all their dues: tribute to whom tribute is due; custom to whom custom; fear to whom fear; honor to whom honor."

Do our Christian friends who use these verses to teach that we should not oppose President Bush or any other political leader really believe that civil magistrates have unlimited authority to do anything they want without opposition? I doubt whether they truly believe that.

For example, what if our President decided to resurrect the old monarchal custom of Jus Primae Noctis (Law of First Night)? That was the old medieval custom when the king claimed the right to sleep with a subject's bride on the first night of their marriage. Would our sincere Christian brethren sheepishly say, "Romans Chapter 13 says we must submit to the government"? I think not. And would any of us respect any man who would submit to such a law?

So, there are limits to authority. A father has authority in his home, but does this give him power to abuse his wife and children? Of course not. An employer has authority on the job, but does this give him power to control the private lives of his employees? No. A pastor has overseer authority in the church, but does this give him power to tell employers in his church how to run their businesses? Of course not. All human authority is limited in nature. No man has unlimited authority over the lives of other men. (Lordship and Sovereignty is the exclusive domain of Jesus Christ.)

By the same token, a civil magistrate has authority in civil matters, but his authority is limited and defined. Observe that Romans Chapter 13 clearly limits the authority of civil government by strictly defining its purpose: "For rulers are not a terror to good works, but to the evil . . . For he is the minister of God to thee for good . . . for he is the minister of God, a revenger to execute wrath upon him that doeth evil."

Notice that civil government must not be a "terror to good works." It has no power or authority to terrorize good works or good people. God never gave it that authority. And any government that oversteps that divine boundary has no divine authority or protection.

Civil government is a "minister of God to thee for good." It is a not a minister of God for evil. Civil magistrates have a divine duty to "execute wrath upon him that doeth evil." They have no authority to execute wrath upon him that doeth good. None. Zilch. Zero. And anyone who says they do is lying. So, even in the midst of telling Christians to submit to civil authority, Romans Chapter 13 limits the power and reach of civil authority.

Did Moses violate God's principle of submission to authority when he killed the Egyptian taskmaster in defense of his fellow Hebrew? Did Elijah violate God's principle of submission to authority when he openly challenged Ahab and Jezebel? Did David violate God's principle of submission to authority when he refused to surrender to Saul's troops? Did Daniel violate God's principle of submission to authority when he disobeyed the king's law to not pray audibly to God? Did the three Hebrew children violate God's principle of submission to authority when they refused to bow to the image of the state? Did John the Baptist violate God's principle of submission to authority when he publicly scolded King Herod for his infidelity? Did Simon Peter and the other Apostles violate God's principle of submission to authority when they refused to stop preaching on the streets of Jerusalem? Did Paul violate God's principle of submission to authority when he refused to obey those authorities who demanded that he abandon his missionary work? In fact, Paul spent almost as much time in jail as he did out of jail.

Remember that every apostle of Christ (except John) was killed by hostile civil authorities opposed to their endeavors. Christians throughout church history were imprisoned, tortured, or killed by civil authorities of all stripes for refusing to submit to their various laws and prohibitions. Did all of these Christian martyrs violate God's principle of submission to authority?

So, even the great prophets, apostles, and writers of the Bible (including the writer of Romans Chapter 13) understood that human authority--even civil authority--is limited.

Plus, Paul makes it clear that our submission to civil authority must be predicated on more than fear of governmental retaliation. Notice, he said, "Wherefore ye must needs be subject, not only for wrath, but also for conscience sake." Meaning, our obedience to civil authority is more than just "because they said so." It is also a matter of conscience. This means we must think and reason for ourselves regarding the justness and rightness of our government's laws. Obedience is not automatic or robotic. It is a result of both rational deliberation and moral approbation.

Therefore, there are times when civil authority may need to be resisted. Either governmental abuse of power or the violation of conscience (or both) could precipitate civil disobedience. Of course, how and when we decide to resist civil authority is an entirely separate issue. And I will reserve that discussion for another time.

Beyond that, we in the United States of America do not live under a monarchy. We have no king. There is no single governing official in this country. America's "supreme Law" does not rest with any man or any group of men. America's "supreme Law" does not rest with the President, the Congress, or even the Supreme Court. In America, the U.S. Constitution is the "supreme Law of the Land." Under our laws, every governing official publicly promises to submit to the Constitution of the United States. Do readers understand the significance of this distinction? I hope so.

This means that in America the "higher powers" are not the men who occupy elected office, they are the tenets and principles set forth in the U.S. Constitution. Under our laws and form of government, it is the duty of every citizen, including our elected officials, to obey the U.S. Constitution. Therefore, this is how Romans Chapter 13 reads to Americans:

"Let every soul be subject unto the [U.S. Constitution.] For there is no [Constitution] but of God: the [Constitution] that be [is] ordained of God. Whosoever therefore resisteth the [Constitution], resisteth the ordinance of God: and they that resist shall receive to themselves damnation. For [the Constitution is] not a terror to good works, but to the evil. Wilt thou then not be afraid of the [Constitution]? do that which is good, and thou shalt have praise of the same: For [the Constitution] is the minister of God to thee for good. But if thou do that which is evil, be afraid; for [the Constitution] beareth not the sword in vain: for [the Constitution] is the minister of God, a revenger to execute wrath upon him that doeth evil. Wherefore ye must needs be subject, not only for wrath, but also for conscience sake. For this cause pay ye tribute also: for [the Constitution is] God's minister, attending continually upon this very thing. Render therefore to all their dues: tribute to whom tribute is due; custom to whom custom; fear to whom fear; honor to whom honor."

Dear Christian friend, the above is exactly the proper understanding of our responsibility to civil authority in these United States, as per the teaching of Romans Chapter 13.

Furthermore, Christians, above all people, should desire that their elected representatives submit to the Constitution, because it is constitutional government that has done more to protect Christian liberty than any governing document ever devised by man. As I have noted before in this column (See: http://www.chuckbaldwinlive.com/c2005/cbarchive_20050630.html ), Biblical principles form the foundation of all three of America's founding documents: The Declaration of Independence, The U.S. Constitution, and The Bill of Rights. As a result, Christians in America (for the most part) have not had to face the painful decision to "obey God rather than men" and defy their civil authorities.

The problem in America today is that we have allowed our political leaders to violate their oaths of office and to ignore, and blatantly disobey, the "supreme Law of the Land," the U.S. Constitution. Therefore, if we truly believe Romans Chapter 13, we will insist and demand that our civil magistrates submit to the U.S. Constitution. Now, how many of us Christians are going to truly obey Romans Chapter 13?
| America |

Solana’s speech to Institute for Security Studies Consilium Europa (October 30, 2008) - Dear friends, Let me start our "tour d'horizon" with the financial crisis. It has been the emblematic event of 2008, putting all else into the background. It is worth analysing, especially for its consequences for foreign policy. Allow me to make some observations:

First, the diagnosis. This crisis has confirmed that globalisation remains the dominant force shaping our world. This really is a global crisis. It has spread at incredible speed. Functionally, from sub-prime mortgages to credit markets to the real economy. And geographically from the US to Europe to emerging markets. Not everyone is affected equally; but no one is immune.

In its wake, the balance between markets, states and individuals will have to be adjusted. But globalisation itself - that is the global spread of goods, people, ideas and technology - will not stop. The crisis has highlighted globalisation's central dilemma. Today's big problems are global in nature. But the main resources and legitimacy are located at the national level. In a way, European integration is an attempt to resolve this core dilemma.

Regarding, the policy response, the crisis has demonstrated - once more - the need for stronger global institutions. With goodwill and creativity a lot can and has been achieved. Through ad-hoc crisis management among political leaders, central bankers and others. But if we are honest we must admit that the existing architecture is not up to the task - neither in Europe, nor globally.

I have been convinced, for some time, and I have underlined that in different fora, that the current international system is inadequate. Now the case for deep reform has become overwhelming. This must start with the international financial institutions. But we need to go further.

From the UN and the G8 to the regimes and institutions dealing with the big issues of our time: nonproliferation, energy and climate change, migration. Hopefully, the obvious need to deepen cooperation in the area of finance will act as a catalyst for these necessary wider reforms.

In any case, this effort cannot be handed by the US plus Europe alone. Even the talk of us "leading" is misleading. Apart from changing formats, the mindset needs changing too. We better not see this as the Western powers inviting the others for coffee after our discussions. We need all relevant players "present at the creation" of the new system, to use Acheson's famous phrase. And we need to be ready to engage them seriously. Read the full story...

| Iran | Israel | Islam | Gog/Magog | EU/UN / 4th Kingdom | Solana | 1^st Seal | America | Economic Crisis |

A Real Election Choice On The United Nations Forbes (October 30, 2008) - When Barack Obama said he'd like to "spread the wealth around," he was widely understood to be talking about redistributing income within the U.S. But there's another arena in which Obama fans are waiting impatiently for the promised wealth-spreading--the United Nations.

Officially, under its 1945 charter, the U.N. is a neutral body that takes no sides in U.S. politics. But a recent story in the Washington Post, headlined "At the U.N., Many Hope for an Obama Win," reports the same drumbeat I've been hearing from the U.N.'s New York headquarters. There's little love lost there for John McCain, who replies to the U.N.'s chronic scandals and tyrant-friendly tilt by proposing some competition, via a League of Democracies.

Obama, by contrast, promises to give the U.N. a bigger role in U.S. foreign policy and many more American tax dollars than the $5 billion or more per year that currently accounts for roughly one-quarter of the total U.N. budget--already the biggest share by far among the U.N.'s 192 member states.

A disturbing caveat here is that the total annual U.N. budget is something of a mystery even to the U.N., which produced an estimate two years ago of $20 billion. That has since grown, but the U.N. either won't or can't say by how much.

Cocooned in diplomatic immunities, and spent across borders, the U.N. budget is multilayered, secretively administered, erratically audited and often filtered through multiple U.N. agencies that charge fees to each other. These days, in the name of "public-private partnerships," it is also opaquely intertwined with assorted private foundations and corporations worldwide.

The danger here is not only graft and waste but the ease with which the U.N. collective, with its majority of nonfree member states, lends itself to support for dictatorships, money laundering and questionable transfers of technology and goods to rogue regimes (all of which emerged in investigations into both the U.N.'s 1996-2003 Oil-for-Food program in Iraq, and its more recent Cash-for-Kim scandal in North Korea).

Obama has yet to put forward a viable plan for holding the U.N. accountable. But he's already promising to embrace a massive U.N. program called the Millennium Development Goals, saying "When I'm president, they will be America's goals." This U.N. program in effect sets U.N.-approved central planning targets for poor countries and urges developed countries to pay for it by handing over 0.7% of gross national product--in effect, a direct tax levied by the U.N.

Obama is promising upfront that by 2012 he'd be tossing at least $50 billion a year into this pit. If, as president, he signs onto the full U.N. program, the tab for American taxpayers over the next four years could total well over $300 billion.

With the pale exception of Japan (the number two financial donor after the U.S.), America has been the only U.N. member state to even try to impose serious oversight on the U.N. Almost the entire U.S. effort came from a now-departed team brought to the U.S. mission in 2005 by former Ambassador John Bolton, and a few Republican members of Congress, chiefly Sen. Norm Coleman and the late Rep. Henry Hyde. Coleman, a former prosecutor who put himself on the line to uncover U.N.-related nests of money laundering, graft and abuse, is now running for re-election in Minnesota--where he might lose his seat to comedian Al Franken.

U.N. reforms proclaimed with fanfare in recent years have fizzled. A policy of financial disclosure by top U.N. officials, promised by Kofi Annan, has turned out to require no public disclosure whatsoever. A system-wide audit promised by Secretary-General Ban Ki-Moon in early 2007 was scaled back within the week to a tardy and off-site audit of a portion of the U.N.'s operations in North Korea.

A special task force set up almost three years ago to investigate U.N. procurement activities has identified at least 20 major cases of fraud, kickbacks and malfeasance tainting a total of more than $630 million worth of contracts. But this probe is due to be shut down by the end of this year, leaving behind at least 150 unfinished investigations.

Given the current U.N. scene, it's not just Joe the Plumber who comes to mind. American taxpayers might want to recall the fate of Boxer the horse, in George Orwell's Animal Farm, whose mantra as he slaved in the name of the collective good was "I must work harder"--right up until he was carted away to the glue factory.
| EU/UN / 4th Kingdom | America |

Egyptian War Games Cause For Concern in Israel, Lawmaker Says CNS News (October 29, 2008) - Israel is upset over Egyptian military exercises in which the simulated “enemy” is Israel, and some are calling on the U.S. to reconsider its aid to Egypt because of it. Israel and Egypt – two U.S. regional allies – signed a U.S.-sponsored peace treaty in 1979 – Israel’s first with an Arab nation.

The Egyptian navy reportedly carried out the largest exercise in its history last week. Dubbed Victory 41, the military maneuvers marked the Egyptian sinking of the Israeli Naval vessel Eilat 41 years ago, in which 47 Israeli sailors were killed and 91 wounded. According to the daily Ha’aretz, Oct. 20 was set aside as a holiday marking the sinking of the Israeli vessel for the Egyptian naval forces. The paper also quoted the Egyptian Navy commander in chief Vice Admiral Mohad Mamish in an interview with the Arabic newspaper Al Ahram, saying that the Egyptian Naval vessels were outfitted with advanced missiles and the Navy had supply contracts with Germany, Russia and the U.S.

“Unfortunately now for more than 10 years most of the big [Egyptian] exercises are simulating war against Israel,” said Dr. Yuval Steinitz, member of the Israeli Knesset’s influential Foreign Affairs and Defense Committee. The first time was in 1996 when they imitated a war against “a little country that is bordering Egypt on the northeast,” Steinitz told CNSNews.com on Wednesday. Looking on the map, it’s clear who they were simulating the war against, he said. The only new thing this time is that it has been leaked to the press, said Steinitz.

On Wednesday, Israeli Prime Minister Ehud Olmert telephoned Egyptian President Hosni Mubarak to apologize for comments made by a right-wing Knesset member, who noted that Mubarak has never come on a state visit to Israel. Olmert told Mubarak that Israel considered him to be “a strategic partner and a close friend.”

But there are signs of other strains in relations. The Hebrew daily Maariv reported on Tuesday that on a recent trip to Egypt, the director of the military/political and policy bureau of Israel’s Ministry of Defense, told Egyptian Intelligence chief Omar Suleiman and Defense Minister Hussein Tantawi that Israel was concerned about Egypt carrying out of Egyptian army exercises "that are directed against an Israeli threat and that relate to it [Israel] as an enemy.” (A translation was provided by the Independent Media Review and Analysis.)

Israel also is concerned that it has become the central focus for Egyptian officers in building their forces and by the lack of “any relations of any kind” between the Israeli and Egyptian armies, Gilad was quoted as saying. According to the paper, Tantawi said relations between the armies could improve in the future in tandem with progress in regional peace. He also said that security challenges obligate Egypt to build an effective deterrent force.

Steinitz said the military exercises, combined with massive Egyptian force building plus indoctrination of the military against Israel, was “something to be concerned about.” He also said that despite the peace agreement between the two countries, Egypt is anti-Israel in most international bodies and is also educating the public “for hatred and not for peace.”

Earlier this year, the Anti-Defamation League told the House Foreign Affairs Committee that its analysts had found the Egyptian press to be “a leading propagator of anti-Semitic images” for many years and that that trend was now spreading to other newspapers in the region.

Egypt is considered one of America’s allies in the region and has been a mediator in the Israeli-Palestinian peace process. It is currently mediating reconciliation talks between the military Hamas group and the Fatah faction of Palestinian Authority Chairman Mahmoud Abbas. Read full story...

U.S. aid

Since signing a peace treaty with Israel in 1979, Egypt has received an average of more than $2 billion annually in economic and military foreign assistance from the U.S. – the second largest foreign aid package after Israel. The administration has requested $1.3 billion in military aid for 2009 – the same amount it received in 2008. “U.S. policy toward Egypt is aimed at maintaining regional stability, improving bilateral relations, continuing military cooperation, and sustaining the March 1979 Egyptian-Israeli peace treaty,” according to a Congressional Research Service report to Congress in August 2008.

Egypt has long been viewed by U.S. administrations as a “moderating influence” in the Middle East. Many congressmen see Egypt as a “stabilizing force” in the region, but others would like to see the U.S. pressure Egypt to, among other things, “take a more active role in reducing Arab-Israeli tensions,” the report said.

The U.S. Embassy here had no comment on the military exercises.

But the Zionist Organization of America criticized the Egyptian “celebration” of its past attacks on Israel and urged the U.S. to reconsider its massive aid to Egypt contingent on Egypt adopting “truly peaceful actions and policies toward Israel.”

“Egypt has shown in a variety of ways that it remains a country deeply hostile to Israel and may indeed be a leading influence in Arab world hostility to Israel,” ZOA National President Morton A. Klein said in a statement. “In an era of peace that was meant to be ushered in by the 1979 Camp David peace treaty, Egypt should not be celebrating past military assaults on Israel which were fought in pursuit of a policy to eliminate Israel,” Klein said.  “This is not a matter of a country simply honoring its war dead. It is matter of maintaining the hostility to Israel’s existence,” he said.

The ZOA noted that the Egyptian celebrations were in the wider context of Egyptian political, cultural and media hostility toward Israel. Earlier this year, Egyptian Culture Minister Farouk Hosni said he would “burn Israeli books himself if found in Egyptian libraries.” In 2006, a poll found that 92 percent of Egyptians regarded Israel as an enemy nation, and 50 percent regarded the U.S. as an enemy, the ZOA reported.

| Israel | Islam | Isaiah 17 | Gog/Magog | NewWorldOrder | America |

It seems to me that America has her hands pretty deep into the Middle East mess and that we've easily given away our money for peace. But I think we are just being taken for our money, and now that this is diminishing in global influence, someone has to step in. Actually Europe has been stepping into that role and indeed Javier Solana was one of the authors of the roadmap to peace according to him. But then money is being given from Europe as well in the name of peace and security while it seems that the "chaos" from which peace is supposed to arrive could be just around the corner.

According to Bible prophecy, Islam will be coming against Israel time and again in these end times and a certain alliance of them will gather their forces and attack Israel from the North at which time God will destroy those invaders in the mountains of Israel and protect His people for His namesake. Israel has a role in the end times as made clear in the study of Bible prophecy. Ultimately this is what the HIStory, Our Future Bible studies lay out, Israel's central place in the completion of God's plans to bring a remnant of His people Israel through the fire to accept Yeshua as the Messiah prompting His return in glory.

One of these foreshadows is the rebuilding of the temple, a feat that seems impossible now. I posit that God's intervention in such a manner on Israel's behalf would not only silence the radical Islamic nations for a time, but I think it would also embolden the nation of Israel and cause a fundamental spiritual shift that would not only bring many more Jews to the Holy Land, but also bring the nation together and united under the authority of scripture, which to them includes the rebuilding of the temple and the resumption of the daily sacrifice while excluding the first coming of the Messiah. They will therefore very much desire to have the temple and according to scripture, they rebuild it.

I believe this action would also bring Israel's enemies from all around the world to be more focused on her and united together, giving the appearance of global unity - but under whom?

As we see this and other collusions such as Syria-Russia and the Russian navy enlarging Syrian ports for her ships. (Syrian ports lie to the North of Israel) Or large Russian war games and Hezbollah takeovers of Lebanon, (see also) also just to the North of Israel. Could all these activities of military forces as described in Ezekiel 38,39 be buildup to a planned attack in the future that God will stop?

As US forces make an attack inside Syria while our economy is weakened and we are increasingly viewed as the "big Satan" and Israel the "little Satan," a view of weakness in Israel's primary "friend" and something to spark the tensions, like say a possible Iranian underground nuclear test, could all be leading to the fulfillment of Isaiah 17 in a preemptive strike on Damascus. This could be the straw that brings the currently forming allies to utilize their prepared military forces in a sudden attack on Israel justified to the world in Israel's actions on Damascus. Would Turkey turn on Israel if the peace they were dealing with between Israel and Syria were seen as thrown away by an aggressive nation?

Perhaps I'm just imagining things. If not, time is short.

Uses for $700B Bailout Money Keep Changing Fox News (October 26, 2008) - First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets. Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.

But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them. Three weeks after becoming law, and with the first dollar of the $700 billion yet to go out, officials are just beginning to talk about helping a few strapped homeowners keep the foreclosure wolf from the door.

As the crisis worsens, the government's reaction keeps changing. Lawmakers in both parties are starting to gripe that the bailout is turning out to be far different from what the Bush administration sold to Congress. In buying equity stakes in banks, the Treasury has "deviated significantly from its original course," says Alabama Sen. Richard Shelby, the top Republican on the Senate Banking, Housing and Urban Affairs Committee. "We need to examine closely the reason for this change," said Shelby, who opposed the bailout.

The centerpiece of the Emergency Economic Stabilization Act is the "troubled asset relief program," or TARP for short. Critics note that tarps are used to cover things up. The money was to be devoted to buying "toxic" mortgage-backed securities whose value has fallen in lockstep with home prices. But once European governments said they were going into the banking business, Treasury Secretary Henry Paulson followed suit and diverted $250 billion to buy stock in healthy banks to spur lending. Bank executives hinted they might instead use it for acquisitions. Sen. Christopher Dodd, chairman of the Senate banking committee, said this development was "beyond troubling."

Sure enough, a day after Dodd, D-Conn., made the comment, the government confirmed that PNC Financial Services Group Inc. was approved to receive $7.7 billion in return for company stock. At the same time, PNC said it was acquiring National City Corp. for $5.58 billion. "Although there will be some consolidation, that's not the driver behind this program," Paulson recently told PBS talk show host Charlie Rose. "The driver is to have our healthy banks be well-capitalized so that they can play the role they need to play for our country right now."

Other planned uses of the bailout money have lawmakers protesting, although it is only fair to note there is nothing in the law that they just wrote to prevent those uses. Sen. Charles Schumer, D-N.Y. questioned allowing banks that accept bailout bucks to continue paying dividends on their common stock. "There are far better uses of taxpayer dollars than continuing dividend payments to shareholders," he said. Schumer, whose constituents include Wall Street bankers, said he also fears that they might stuff the money "under the proverbial mattress" rather than make loans.

Neel Kashkari, head of the Treasury's financial stability program, told Dodd's committee this past week that there are few strings attached to the capital-infusion program because too many rules would discourage financial institutions from participating.

As the bank plan has become a priority, the effort to buy troubled assets has receded from the headlines. Potential conflicts of interest pose all kinds of problems in finding qualified companies to manage that program. "Firms with the relevant financial expertise may also hold assets that become eligible for sale into the TARP or represent clients who hold troubled assets," Kashkari said.

The challenge was made plain when the Treasury hired the Bank of New York Mellon Corp. as "custodian" of the troubled assets purchase program. The bank will conduct "reverse auctions" to buy the toxic securities on behalf of the Treasury. The lower the price they set, the better chance sellers have of getting rid of the devalued securities.

On the same day it hired Mellon, the Treasury also picked the company to receive a $3 billion investment as part of the capital-infusion program. The same bank hired to help manage part of the economic rescue plan became a beneficiary of it.

With the Nov. 4 election nearing, lawmakers decided it was important to remind the government officials running the bailout program about parts of the law aimed at helping distressed homeowners by offering federal guarantees to mortgages renegotiated down to lower monthly payments. "The key to our nation's economic recovery is the recovery of the housing market," Dodd said. "And the key to recovery of the housing market is reducing foreclosures." Sheila Bair, who heads the Federal Deposit Insurance Corp., responded that her agency is working "closely and creatively" with Treasury officials to "realize the potential benefits of this authority."
| America | Economic Crisis |

U.S. attacks inside Syria WorldNet Daily (October 26, 2008) - The U.S. Army today confirmed it carried out a raid inside a Syrian village near the Iraqi border, killing at least eight. Today's operation is the first in which American forces so openly attacked militants on Syrian soil, clearly broadening the scope of the U.S. military campaign in Iraq.

The U.S. has long accused Damascus of failing to stop insurgents from crossing from Syria into Iraq, where they purportedly attack coalition troops and return to safety zones inside Syria. An official Syrian spokesman confirmed earlier reports by the country's SANA state-run television, which reported U.S. helicopters were involved in an attack in Al-Sukkariya, some five miles from the Iraqi border.

Eyewitnesses told reporters they saw four helicopters hover overhead and then at least eight soldiers disembark, where they engaged a number of men at a civilian construction site. SANA reported: "Four American helicopters violated Syrian airspace around 16:45 local time (13:45 GMT) on Sunday." It claimed "American soldiers" who had emerged from helicopters "attacked a civilian building under construction and fired at workmen inside, causing eight deaths." "The helicopters then left Syrian territory towards Iraqi territory," reported SANA.

The reported incident took place near the Iraqi border city of Qaim, which the U.S. has labeled as a major crossing point for insurgents, weapons and money. A U.S. official confirmed the attack targeted what he said were elements of arobust foreign fighter logistics network operating in Syria and that due to Syrian inaction the U.S. was now "taking matters into our own hands."

There have been unconfirmed reports in the past of U.S. forces operating along the Syrian-Iraqi boarder and even entering hundreds of feet into Syria in pursuit of insurgents, but today's reported operation would be the largest yet.

Israeli security officials said the Jewish state was not involved in the operation. They said it was likely the U.S. attacked insurgent or al-Qaida elements that ran inside Syria. They said the operation, if confirmed, likely was to send a signal to Damascus that it is not immune from retaliation if it continues to allow insurgents to utilize the country.

Already Syria has summoned the U.S. and Iraqi envoys to Damascus to protest against what it called a U.S. military attack on its soil. According to Syrian sources speaking to WND, Syria conveyed a message to the U.S. claiming Syria does not support the insurgency and opposes any insurgent or al-Qaida elements operating on Syrian soil. Syria told the U.S. they were not upset America had attacked insurgents or al-Qaida elements, if indeed that was the target, but that their protest was against the U.S. operating on Syrian soil without prior permission.
| Israel | Islam | Isaiah 17 | Gog/Magog | America |

Russia blasts off back to the future Scotland on Sunday (October 26, 2008) - As they tracked Russian military maneuvers last week, the US government's Kremlin-watchers might have been forgiven for wondering if they were seeing recycled newsreels. A huge exercise, Stability 2008, spread tens of thousands of troops, thousands of vehicles and scores of combat aircraft across nearly all 11 time zones of Russian territory in the largest war game since the collapse of the Soviet Union. There was no specified enemy, but the Russian forces appeared to be enacting a nationwide effort to quell unrest along Russia's southern border – and to repulse a US-led attack by Nato forces, according to experts in Moscow and Washington.

In a grim finale, commanders launched three intercontinental ballistic missiles, the type that can carry multiple nuclear warheads. It was a clear signal of the drastic endgame the Kremlin might consider should its conventional forces not hold. One of the missiles flew more than 7,100 miles, allowing Russian officials to claim they had set a distance record.

If these images of Russian power projection appeared drawn from the dark decades of Dr Strangelove, the response from Washington was anything but. Defence secretary Robert Gates and admiral Mike Mullen, chairman of the joint chiefs of staff, provided the same sanguine reply, echoed down through the ranks of government analysts who have spent years reading Russian military journals and scrutinising classified satellite photographs.

The Russian military fell to Third World standards from neglect and budget cuts in the turbulent years when Boris Yeltsin was president, they say. The new Kremlin leadership is working to create a force that can actually defend the nation's interests.

The military has embarked upon a programme to buy modern weapons, improve training and healthcare for troops, trim a bloated officer corps and create the first professional class of sergeant-level, small-unit leaders since the Second World War.

That is not to say that the US will stop judging Russian behaviour in light of what it considers a clumsy, ill-advised invasion of the former Soviet republic of Georgia. Yet policymakers also say the Kremlin's efforts at military modernisation should not prevent co-operation on mutual concerns, including countering terrorism and halting nuclear proliferation.

Even a high-profile speech last month by President Dmitry Medvedev, ordering a military modernisation programme and the largest increases in defence spending since the death of the old USSR, was viewed in Washington as short on substance and designed more for a domestic political agenda. Medvedev declared that, by 2020, Russia would construct new types of warships and an unspecified air and space defence system. Military spending, he said, will leap 26% next year, bringing it to 1.3 trillion rubles (about £30bn), its highest level since the collapse of the Soviet Union – but still a fraction of US military spending.

American experts were unimpressed. "Russia is prone to make fairly grandiose announcements about its military," said a defence department official. "These programmes have long been in the works. They are not new plans."

Even so, analysts of Russian military affairs acknowledge that a military renaissance would allow the Moscow leadership to increase political pressure on former Soviet republics, as well as former Warsaw Pact allies that embraced Nato after the collapse of communism. "What the Russian leadership has discovered is proof of an old maxim: that a foreign policy without a credible military is no foreign policy," said Dale Herspring, a scholar on Russian military affairs at Kansas State University. Read full story...

Some of the steps undertaken to wrench the Russian military out of mediocrity resemble changes in the American military over several decades. Russia plans for its ground forces to move to a system designed for the deployment of brigades, rather than bulkier division or corps headquarters – nearly copying the US army's approach.

The Russian military also plans to offer pay and housing incentives to attract noncommissioned officers – the valuable class of sergeants – to make a long-term career of military service. The plan would shift Russia further from reliance on one-year conscripts, who are not in uniform long enough to master even basic skills.

The Russian general staff will be trimmed to 900 from the current 1,100. But in an acknowledgment that the general officer corps can slow the pace of change throughout the military, most of those reductions will occur through retirement.

The Kremlin knows that its military bureaucracy is riddled with corruption. Experts in Washington say that audits ordered after Vladimir Putin took over from Yeltsin in 2000 found that 40% of the budget for some weapons programmes and salaries was lost to theft and waste. The new defence minister, Anatoly Serdyukov, was a surprise choice, given that he had no military background but was an expert in finance and taxes. As he moved to clean house across the military-industrial complex, the reason for his selection became clear.

Analysts of Kremlin affairs note that a central risk to Russian military reform might not be foreign armies but the current economic collapse, which has seen a plummeting of oil prices, robbing Russia of profits earmarked for upgrading the armed forces. An irony is emerging. One central cause of the Soviet collapse was that the USSR's centrally planned, calcified economy simply could not support the Kremlin's superpower military ambitions. If oil prices continue to drop, Medvedev and Putin may be faced with the same economic limits on their military plans.

| Israel | Islam | Isaiah 17 | Gog/Magog | America |

At the U.N., Many Hope for an Obama Win The Washington Post (October 26, 2008) - There are no "Obama 2008" buttons, banners or T-shirts visible here at U.N. headquarters, but it might be difficult to find a sliver of territory in the United States more enthusiastic over the prospect of the Illinois senator winning the White House. An informal survey of more than two dozen U.N. staff members and foreign delegates showed that the overwhelming majority would prefer that Sen. Barack Obama win the presidency, saying they think that the Democrat would usher in a new agenda of multilateralism after an era marked by Republican disdain for the world body.

Obama supporters hail from Russia, Canada, France, Britain, Germany, the Netherlands, Sierra Leone, South Africa, Indonesia and elsewhere. One American employee here seemed puzzled that he was being asked whether Sen. John McCain (R-Ariz.) was even a consideration. "Obama was and is unstoppable," the official said. "Please, God, let him win," he added.

"It would be hard to find anybody, I think, at the U.N. who would not believe that Obama would be a considerable improvement over any other alternative," said William H. Luers, executive director of the United Nations Association. "It's been a bad eight years, and there is a lot of bad feeling over it."

Conservatives who are skeptical of the United Nations said they are not surprised by the political tilt. "The fact is that most conservatives, most Republicans don't worship at the altar in New York, and I think that aggravates them more than anything else," said John R. Bolton, a former U.S. ambassador to the United Nations. "What they want is the bending of the knee, and they'll get it from an Obama administration."

The candidates have said little about their plans for the United Nations, but Obama has highlighted his desire to pursue diplomacy more assertively than the Bush administration, whereas McCain has called for the establishment of a league of democracies, which many here fear is code for sidelining the United Nations.

U.N. Secretary General Ban Ki-moon has avoided showing a public preference about the presidential campaign -- although he has hinted at a soft spot for Obama in private gatherings, according to U.N. officials. His top advisers say they think McCain and Obama would support many of Ban's priorities, including restraints on production of greenhouse gases that fuel climate change. "The secretary general and the Secretariat of the United Nations take no position on the U.S. election," said Ban's chief spokeswoman, Michele Montas. "The secretary general deeply respects the democratic process, and he looks forward to working with whomever the American people choose."

Many U.N. rank and file are less circumspect, saying they see in Obama's multicultural background -- a Kenyan father, an Indonesian stepfather and a mother and grandparents from Kansas -- a reflection of themselves. "We do not consider him an African American," said Congo's U.N. ambassador, Atoki Ileka. "We consider him an African." Read full story...

One U.N. official threw a party over the summer and asked guests to place stickers of either an elephant or a donkey on the front door to show their political preference. At the end of the night, the door was covered with about 30 donkeys and two elephants. "We found out that one of the Republicans was an American and the other couldn't vote," according to a U.N. official who attended. "So we convinced the American to vote for Obama."

"I have not heard a single person who will support McCain; if they do, they are in hiding," said another U.N. Obama booster from an African country. "The majority of people here believe in multilateralism," he said. "The Republicans were constantly questioning the relevance of the United Nations."

For the small minority of U.N. officials who have stuck with McCain -- only two of 28 U.N. officials and diplomats questioned said they favored the Arizona senator -- life in Turtle Bay can seem lonely. "I keep my mouth shut," said one American official here who plans to vote for McCain. "Everyone is knocking on wood, counting the days to the elections. Some Americans here are planning to move to Washington," in search of jobs in an Obama administration.

"It will be devastating if Obama loses," the official said. "There has been such an amount of faith placed on the outcome."

The official, who like all other Secretariat staffers spoke on the condition of anonymity, recalled that Democrats have not always been so supportive of the United Nations, citing the Clinton administration's lone 1996 campaign to block the reelection of then-Secretary General Boutros Boutros-Ghali. And some foreign delegations, including Georgia, have been outspoken in their support of the foreign policy approach of McCain, who reacted quickly and sharply to Russian intervention in Georgia.

Still, the Obama candidacy has enormous emotional resonance among delegates from developing countries, particularly for what it says about race in America. They recall that one of the United Nations' most famous civil servants, Ralph Bunche -- an African American who was awarded a Nobel Peace Prize for his Middle East mediation -- could never have risen to the same heights in U.S. foreign policy circles. And Kofi Annan, the first black U.N. secretary general, said the prospect of an Obama presidency would be "phenomenal."

Even while critics of the Bush administration here root for Obama, they acknowledge that the U.S. attitude toward the United Nations has improved dramatically in recent years, citing cooperation on Afghanistan, Iran and Iraq.

They say President Bush deserves much credit for supporting U.N.-backed initiatives, including the provision of billions of dollars in funding to fight AIDS and malaria in Africa as well as support for the largest expansion of U.N. peacekeeping in history. And they expect that whichever candidate prevails will be compelled by the United States' falling financial fortunes to work more cooperatively with foreign governments.

"We don't have voting rights," said Yukio Takasu, Japan's ambassador to the United Nations.

But, he added, "We expect whoever [wins] in Washington will have a fresh look at the U.N. and the utility of working through the U.N. And, of course, we have to adjust to them."

| EU/UN / 4th Kingdom | America |

Political alarms ring as panicked markets dive Reuters (October 25, 2008) - Asian and European leaders closed ranks on Saturday to try to bolster confidence among investors who fear that a global credit crunch has ushered in a deep and damaging world recession. The worst financial crisis in 80 years has forced countries to work together to find ways to help shore up a financial system crippled by banks fearful of lending to each other.

But with evidence mounting that Europe is already in recession, analysts fear that cooperation in shoring up banking systems could be threatened as governments begin to turn their attention to reviving domestic demand. "We must use every means to prevent the financial crisis impacting growth of the real economy," Chinese Prime Minister Wen Jiabao said at the end of a two-day summit of 43 Asian and European leaders in Beijing.

Governments have pledged around $4 trillion to support banks and restart money markets to try to stem the crisis and are considering tougher financial rules to guard against any repeat. Wen said countries needed to strike a balance between innovation and regulation and between savings and consumption. "We need financial innovation, but we need financial oversight even more," he said, adding that China's priority was to spur domestic demand to ensure the country maintained fairly fast, steady growth.

U.S. President George W. Bush, who will host a global summit on the financial crisis next month, said in a radio address on Saturday: "While the specific solutions pursued by every country may not be the same, agreeing on a common set of principles will be an essential step toward preventing similar crises in the future."

In the Gulf, finance ministers and central bank governors said at a meeting on coordinating policy that they would look at directing more government funds into banks and regional stock markets, Al-Arabiya television reported. Saudi Arabia, the United Arab Emirates and four other Gulf states have so far adopted separate responses to ease the pressures of the liquidity crunch on their banking sectors. Qatar's finance minister, Youssef Kamal, said the crisis would give impetus to create regional monetary union and he was sure the measures taken to protect the economies were sufficient.

Any significant redirection of Gulf investment to domestic markets could be a concern for banks and other firms in the West which have eyed the huge sums in the region's state-run sovereign wealth funds as a potential source of capital while European and U.S. credit and share markets are seized up. But the scarcity of private sector capital is being felt in the Gulf. Officials were set to discuss the risk of investments from countries hit by the crisis being "liquidated." Saudi Arabian stocks plummeted 8.7 percent on fears of an oil price fall and recession. more...
| Islam | EU/UN / 4th Kingdom | America | Economic Crisis |

Newspaper shows Obama belonged to socialist party WorldNet Daily (October 24, 2008) - Evidence has emerged that Sen. Barack Obama belonged to a socialist political party that sought to elect members to public office with the aim of moving the Democratic Party far leftward to ultimately form a new political party with a socialist agenda. Several blogs, including Powerline, previously documented that while running for the Illinois state Senate in 1996 as a Democrat, Obama actively sought and received the endorsement of the socialist-oriented New Party, with some blogs claiming Obama was a member of the controversial party.

The New Party, formed by members of the Democratic Socialists for America and leaders of an offshoot of the Community Party USA, was an electoral alliance that worked alongside the Association of Community Organizations for Reform Now, or ACORN. The New Party's aim was to help elect politicians to office who espouse its policies. Among New Party members was linguist and radical activist Noam Chomsky.

Obama's campaign has responded to the allegations, denying the presidential candidate was ever a member of the New Party. But the New Zeal blog dug up print copies of the New Party News, the party's official newspaper, which show Obama posing with New Party leaders, list him as a New Party member and include quotes from him. The party's Spring 1996 newspaper boasted: "New Party members won three other primaries this Spring in Chicago: Barack Obama (State Senate), Michael Chandler (Democratic Party Committee) and Patricia Martin (Cook County Judiciary). The paper quoted Obama saying "these victories prove that small 'd' democracy can work." The newspaper lists other politicians it endorsed who were not members but specifies Obama as a New Party member.

New Ground, the newsletter of Chicago's Democratic Socialists for America, reported in its July/August 1996 edition that Obama attended a New Party membership meeting April 11, 1996, in which he expressed his gratitude for the group's support and "encouraged NPers (New Party members) to join in his task forces on Voter Education and Voter Registration."

Becoming a New Party member requires some effort on behalf of the politician. Candidates must be approved by the party's political committee and, once approved, must sign a contract mandating they will have a "visible and active relationship" with the party.

The New Party, established in 1992, took advantage of what was known as electoral "fusion," which enabled candidates to run on two tickets simultaneously, attracting voters from both parties. But the New Party went defunct in 1998, one year after fusion was halted by the Supreme Court.

Following the initial reports of Obama's purported membership in the New Party, Obama associate and former Chicago New Party activist Carl Davidson posted a statement on several blogs claiming his former party was not socialist, but he admitted it worked with ACORN. "[The New Party] was a pragmatic party of 'small d democracy' mainly promoting economic reforms like the living wage and testing the fusion tactic, common in many countries but only operational in New York in the U.S. The main trend within it was ACORN, an Alinskyist outfit, which is hardly Marxist," wrote Davidson.

But the socialist goals of the New Party were enumerated on its old website. Among the New Party's stated objectives were "full employment, a shorter work week, and a guaranteed minimum income for all adults; a universal 'social wage' to include such basic benefits as health care, child care, vacation time, and lifelong access to education and training; a systematic phase-in of comparable worth and like programs to ensure gender equity." The New Party stated it also sought "the democratization of our banking and financial system – including popular election of those charged with public stewardship of our banking system, worker-owner control over their pension assets, community-controlled alternative financial institutions."

Many of the New Party's founding members were Democratic Socialists for America leaders and members of Committees of Correspondence, a breakaway of the Communist Party USA. Obama attended several DSA events and meetings, including a DSA-sponsored town hall meeting Feb. 25, 1996, entitled "Employment and Survival in Urban America." He sought and received an endorsement from the DSA. According to DSA documents, the New Party worked with ACORN to promote its candidates. ACORN, convicted in massive, nationwide voter fraud cases, has been a point of controversy for Obama over the presidential candidate's ties to the group.

In 1995, the DSA's New Ground newsletter stated, "In Chicago, the New Party's biggest asset and biggest liability is ACORN. "Like most organizations, ACORN is a mixed bag. On one hand, in Chicago, ACORN is a group that attempts to organize some of the most depressed communities in the city. Chicago organizers for ACORN and organizers for SEIU Local 880 have been given modest monthly recruitment quotas for new New Party members. On the other hand, like most groups that depend on canvassing for fundraising, it's easy enough to find burned out and disgruntled former employees. And ACORN has not had the reputation for being interested in coalition politics – until recently and, happily, not just within the New Party."
| America |

Closer global integration needed: Blair Canada.com (October 22, 2008) - Any impulse to retreat from a globalized economic system would be exactly the wrong response to the current worldwide financial crisis, warns former U.K. prime minister Tony Blair. Blair - whose successor, Gordon Brown, is being hailed as the architect of a financial rescue plan largely copied in the U.S. and other industrial nations - told the Board of Trade of Metropolitan Montreal that the crisis demonstrates the need for closer global integration, not less.

Those who would pull back from global trade and financial flows are taking the wrong lesson from the banking and credit tumult, Blair said, because globalization is "a fact, not driven by governments, but by people." The challenge facing governments is to make it work better, he said. Blair asked a rhetorical question: "Why is it that irresponsible lending in one area suddenly produces a convulsion in the world economy?" Because, he answered, all countries are now so closely linked that it isn't realistic to imagine withdrawing from the risks and benefits of globalization.

However, unlike some commentators who focus on the need for internationally co-ordinated regulatory constraints on business, Blair also pointed to the dangers of too much regulation. There must clearly be globally synchronized financial regulation "where there is systemic risk," Blair said, referring to the kinds of risks that can go beyond one bank or institution to endanger the whole financial system. A recent example was the collapse of Lehman Bros., a leading U.S. investment bank, which triggered a collapse in confidence that bank obligations would be honoured and greatly worsened stresses on financial institutions. However, Blair insisted that such new regulation must not be so heavy-handed that it stifles the entrepreneurship that he described as the heart of any successful economy.

Blair's comments about the financial crisis were part of a broader perspective on a more closely knit world in which, he warned, no serious challenge, from climate change to terrorism, can be dealt with successfully without close international co-operation. Partnered with the theme of global interdependence was one of power shifting inevitably toward Asia, leaving the big Western powers with a limited window of opportunity to help define the nature of a new world order. "Power is shifting East, and shifting East fast," Blair said.

He noted that in meetings with Chinese leaders during this summer's Olympic Games, he learned that China is now building more power stations than have been created in Europe since the Second World War and planning to open no fewer than 70 new international airports. India will soon be in a position to achieve similar spectacular growth, he said. The lesson of this gigantic power shift, Blair said, is that the West can no longer dominate the world through sheer economic and military strength. Instead of dictating, it must seek to persuade through the power of universal values: freedom, democracy and justice. And to be persuasive in enshrining such values in global institutions, it must be true to them - working harder, for instance, to solve the problems of disease, hunger and poverty in the poorest nations.

Brown, who is now the official envoy of the Quartet on the Middle East, a group including the United Nations, the U.S, the U.K. and Russia, offered another example from his current work. If there were to be a solution to the Israeli-Palestinian conflict, he said, this would be the most powerful influence imaginable in creating healthier relations between the West and the Islamic world. Brown was speaking at Montreal's Palais des congres, at an event sponsored by the TD Bank Financial Group.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Top Iran officials recommend preemptive strike against Israel Haaretz (October 22, 2008) - Senior Tehran officials are recommending a preemptive strike against Israel to prevent an Israeli attack on Iran's nuclear reactors, a senior Islamic Republic official told foreign diplomats two weeks ago in London. The official, Dr. Seyed G. Safavi, said recent threats by Israeli authorities strengthened this position, but that as of yet, a preemptive strike has not been integrated into Iranian policy.

Safavi is head of the Research Institute of Strategic Studies in Tehran, and an adviser to Supreme Leader Ali Khamenei. The institute is directly affiliated with Khamenei's office and with the Revolutionary Guards, and advises both on foreign policy issues. Safavi is also the brother of Yahya Rahim Safavi, who was the head of the Revolutionary Guards until a year ago and now is an adviser to Khamenei, and holds significant influence on security matters in the Iranian government.

An Israeli political official said senior Jerusalem officials were shown Safavi's remarks, which are considered highly sensitive. The source said the briefing in London dealt with a number of issues, primarily a potential Israeli attack on an Iranian reactor.

Safavi said a small, experienced group of officials is lobbying for a preemptive strike against Israel. "The recent Israeli declarations and harsh rhetoric on a strike against Iran put ammunition in these individuals' hands," he said. Transportation Minister Shaul Mofaz said in June that Israel would be forced to strike the Iranian nuclear reactor if Tehran continues to pursue its uranium enrichment program.

Safavi said Tehran recently drafted a new policy for responding to an Israeli or American attack on its nuclear facilities. While the previous policy called for attacks against Israel and American interests in the Middle East and beyond, the new policy is to target Israel alone. He added that many Revolutionary Guard leaders want to respond to a U.S. attack on Iranian soil by striking Israel, as they believe Israel would be partner to any U.S. action.

Safavi said that Iran's nuclear program is intended for peaceful purposes only, and that Khamenei recently released a fatwa against the use of weapons of mass destruction, though the contents of that religious ruling have not yet been publicized. Regarding dialogue with the United States and the West, Safavi said Iran's decision would be influenced by the results of the U.S. presidential elections next month, as well as by the Iranian presidential elections in June and the economic situation in the Islamic Republic.

Safavi also said that a victory by U.S. Democratic presidential candidate Barack Obama would pave the way for dialogue with Washington, while a John McCain presidency would bolster Iran's extreme right, which opposes dialogue. If conditions are favorable following the U.S. election, he said, Iran could draw back from President Mahmoud Ahmadinejad's declaration that "the nuclear case is closed," and put it back on the agenda.

Safavi said he believed that U.S. sanctions on Iran have run their course, and that there would be no point in strengthening them. Tehran would therefore demand "firm and significant" U.S. measures in return for stopping uranium enrichment. He also said Ahmadinejad is not guaranteed victory in the June 2009 elections, particularly given the dire economic situation in Iran. Still, Iranian experts believe his only real competition is former president Mohammad Khatami, who has not yet joined the race.

Safavi said the inflation rate in Iran is similar to that before the 1979 Islamic Revolution, but that unrest among civilians today is not as strong. This is because the current government uses oil revenues to help the poor, he said.
| Iran | Israel | Islam | Gog/Magog | America |

Obama's expected victory in US election could signal bad times for Israel YNet News (October 22, 2008) - Unless we see a dramatic and unexpected development, in about two weeks we shall have a new president in the United States: Barak Obama. Did I say “we”? Yes, we. The identity of the man who will be entering the White House and staying there in the coming years is more important for us and for our lives here than one could imagine. Seven million Israeli citizens go about their daily lives while having no clue as to how much their lives and wellbeing depend on the US, and first and foremost on the person who sits in the Oval Office.

As not to argue with the faithful amongst us, certainly not right after Rosh Hashana and Yom Kippur, we shall only say that some of the prayers we recently uttered would do well to make it to Pennsylvania Ave. in Washington. Our life hinges on the desire, or heaven forbid lack of desire, declarations, and deeds of the president – and apparently it will be Barack Obama.

To be honest, Obama doesn’t make us sleep well at night. We are about to see a president who has nothing to do with Judaism, Jews, and the State of Israel. He doesn’t know Malcolm Hoenlein (executive vice chairman of the Conference of Presidents), he is not scared of Abe Foxman (head of the Anti-Defamation League,) he has not delivered speeches on behalf of the Israel Bonds, and he has not traveled as the guest of the Jewish National Fund. His familiarity with the Middle East is minimal, and on top of that, right now he has a global economic crisis to resolve before he can drink tea with Tzipi Livni and coffee with Mahmoud Abbas.

The way things look now, with an emphasis on “for the time being,” the State of Israel won’t be overjoyed as a result of this development. Obama is not Bush Sr. (who was so-so in his attitude to Israel,) he is not Bill Clinton (who was like a member of the Jewish Federation,) and he is not Bush Jr. (who was like a former fighter in Ariel Sharon’s unit.) Meanwhile, we have several minor problems that require a solution, such as the Iranian nuke threat, Islamic terrorism, Hamas, Syria, and the economy.

For generations, we heard legends around here about the power of the Jewish “lobby” in Washington: AIPAC – now, its members are facing a test. However, here too we have a problem: American Jewry is not what it used to be when it comes to its attachment to Israel, and the generation of the children and grandchildren no longer blindly follows Israel’s leadership, its speeches and demands. Therefore, prepare for the arrival of the Obama. Apparently, although let’s hope this won’t happen, soon we shall go back to the biblical verse we love so much: “A people dwelling alone."
| Israel | America |

MEPs debate EU response to world crises with French president Sarkozy European Parliament (October 21, 2008) - At a debate with MEPs on the EU summit of 15-16 October, EU President-in-Office Sarkozy said the Russo-Georgian war and the financial crisis had strengthened the case for a united European response to major world problems. He rejected any idea that the EU should backtrack on its climate change commitments because of the crisis. While the main EP political groups broadly supported him, some felt the roots of the financial crisis went back a long way and queried the role of unbridled free markets.

Introducing the debate, the President of Parliament, Hans-Gert Pöttering, said that in the recent crises, Europe under the leadership of President Sarkozy had shown its ability to take coordinated, collective action. Without such action - and without the existence of the euro - "we would have been in a disastrous situation".

Georgia

The first subject considered by President Sarkozy, speaking on behalf of the European Council, was the Russo-Georgian war. While regarding the Russian reaction as "disproportionate", he also stressed it was a "reaction" to a previous "inappropriate" action. He then described the peace-making efforts carried out by himself on behalf of the EU. The Americans had thought "dialogue with the Russians is pointless" but in his view this was folly, since "Europe does not want another Cold War". He emphasised "it is Europe that has brought about peace", adding "it is a long time since Europe has played this sort of role in this kind of conflict".

World financial crisis: how to prevent a recurrence

Turning next to the world financial situation, Mr Sarkozy said "what was a serious crisis became a systemic crisis" with the collapse of Lehman Brothers. Moreover, the solutions now being found - in which Europe had taken the lead - simply amounted to "crisis management".

A key point was "how can we prevent a recurrence?". He had proposed to the UN General Assembly the creation of a "new global financial system" or "new Bretton Woods". The aim must be to "overhaul capitalism", not "by questioning the idea of a market economy" but observing certain principles: no bank working with state money must work with tax havens, all financial institutions must be subject to financial regulation, traders' bonus structures must not push them to take undue risks and the monetary system must be rethought. The USA and the EU had proposed a series of "summits on global governance", starting in November, involving first the G8 and then adding the G5, at which, he stressed, "Europe must speak with one voice".

Elsewhere in his speech, Mr Sarkozy returned to the financial crisis, saying it was undoubtedly now leading to an economic crisis and this too would require a "united European response". Among ideas he floated were measures to ensure that "European companies are not bought up by non-European capital while their stock exchange values are low" and the creation of sovereign wealth funds by each EU country. At a later point in the debate he pointed the finger at hedge funds and questioned the competence and independence of ratings agencies, pointing out that the latter were mainly US-based and perhaps Europe needed its own ratings agencies.

He also believed that "the eurozone cannot continue without clear economic governance". The European Central Bank must be independent but must be able to hold discussions with "an economic government" at head of state/government level.

No backsliding on energy/climate change

Mr Sarkozy's next topic was the future of the EU's energy and climate package. He rejected any idea "that the world should do less to combat climate change because of the financial crisis", saying "Europe must set an example" to the world. He recognised the difficulty some European countries were facing, especially those that are 95% dependent on coal, but some flexible solution must be found. Referring to the 20/20/20 targets, he described "respect for the climate change objectives" and "respect for the timetable" as essential.

Turning to the EU Immigration Pact, the French president said this was "a great example of European democracy" as, despite initial differences, the EU had agreed on a joint policy.

Lisbon Treaty

Lastly, the president argued that the recent crises with Georgia and the financial markets showed that "it would be a major mistake not to proceed with institutional reform" since Europe often needs "a powerful, rapid and united response", something which was difficult, for example, with the EU's six-month rotating presidency. The French presidency was thus looking to a roadmap to find a solution by December to the question of Irish ratification of the Lisbon Treaty. Concluding, he said "the world needs a Europe that speaks with a strong voice" and expressed appreciation to the EP for its "solidarity" in helping to create this sense of unity.

Commission President Barroso

President of the European Commission José Manuel Barroso said Mr Sarkozy's handling of the crisis had shown him as "dynamic as only he can be" and welcomed the fact that Europe was now working hand in hand with the US. He said "the EU should mould a global response with it values and interests".

He outlined a number of practical steps. He said the Commission would be looking at executive pay and derivatives. The feasibility of pan-Europe financial regulation would also be under review. He also signalled his forthcoming visit to China for talks saying: "The goal should be to devise a system of global financial governance adapted to the challenges of the 21st century – in terms of efficiency, transparency and representation."

Turning to the so called "real economy" he said that Europe faced a "serious economic slowdown" with jobs, incomes and order books affected. He went on to say: "There is no national road out of this crisis...we will swim or sink together. We must not give in to siren calls for protection. We must not turn our backs on globalisation or put our single market at risk."

He said that "European citizens need support - especially the vulnerable". To deal with the slowdown he called for "smart support" that would hit two targets at once. For example: "Helping the construction industry...but doing this by promoting an energy-efficient housing stock....Helping key industries like cars...but preparing them for tomorrow's markets of clean cars."

He told MEPs that there is "no national route out of this crisis" and that in Europe "we swim or sink together". He said that: "Europe shows its true colours in a crisis - in Georgia we stopped a war whilst with the financial crisis we are dealing with it."

He went on to say that: "There is no magic bullet to turn around the EU economy. What we have to do is take every option, explore every potential way in which EU policy can help Member States to seize every opportunity to put Europe on the road to growth. That is our task in the coming weeks. And it is a task I want to tackle together with the European Parliament." He finished by saying that it was: "The kind of occasion where the crisis calls into question old certainties and minds are more open to change."

Later, speaking after the main group speakers Mr Barroso said that analysis compiled by the Commission showed the crisis was triggered "by sectors that were not regulated in US". On climate change he said that with the financial crisis it would be "dramatically bad" if the EU backtracked on the 20/20/20 emission formula agreed last. He said that "the world - not just Europeans, are looking to us". Read full story...

Political group speakers

For the EPP-ED group, Joseph DAUL (FR) believed that Europe working together had twice over the summer helped show the way through major crises: Georgia and the financial markets. President Sarkozy had worked tirelessly and shown the value of the EU Presidency and the role for Europe on the world stage.

Parliament had already done key work on the financial situation with recommendations on regulation and surveillance, reform and an end to golden parachutes. He said "It is in economic crises that we develop rules for the future. Free markets have to be accompanied by rules and regulations If they existed previously they were not properly applied"

Mr Daul did not want to see the efforts of the little people in Europe wiped out. SMEs need support and we need to guarantee the social market and solidarity. He asked for all to ratify the Lisbon Treaty as soon as possible so that Europe could run more smoothly. He concluded that ahead we face many major issues together: climate, energy, defence. For the sake of future generations he stressed that we need to work on the basis of a Social Market economy model to solve them.

For the Socialist group, Martin SCHULZ (DE) was impressed by the recent resolute action of both President Sarkozy and Barroso. However, he felt we need to make full use of the current crisis to make sure we never again suffer such a disaster in the financial markets which has triggered a disaster in the real economy. We need new rules by the end of the year for banks, private equity.

Mr Schulz noted that in this debate Messrs Sarkozy, Daul, Barroso all spoke the language of true European Social Democracy." I am glad you have finally arrived, however late" he said. Mr Schulz was concerned about the situation of the ordinary citizen, the taxpayer, the small business in this crisis. We need to boost purchasing power to revive the Single Market and we need to cover the risks for the ordinary citizen not just the big fish.

He was delighted everyone was now singing from the same hymn sheet of social democracy but warned this was the time also to remember the long-term issue of climate change which would remain after the credit crunch had subsided. We should all be working towards sustainability. Finally, in this crisis he emphasised that we must not forget rights and keep the question of fundamental values on the agenda.

Thank you for these warm and encouraging words about working hand in hand", said Graham Watson (UK), for the ALDE group, "but why do the Council conclusions refer only to the Commission and the Council? Why, for example, under climate change, is there no reference to the Parliament?" "You will need the EP", he predicted, pointing to some Member States' behind-the-scenes attempts to "unpick" agreements on CO2 emission targets for new cars (2012) and emission sharing (2013).

"Since the Berlin wall fell, 50 million people have been lifted out of poverty, but today we are seeing what happens when markets lack transparency", said Mr Watson, welcoming the fact that co-ordinated measures had alleviated the immediate pressures. He stressed that the EU must play a leading role in applying such remedies internationally - working with the US if possible, and without it if necessary.

Mr Watson nonetheless regretted that the summit had failed to produce plans for an effective supervisory regime, such as a European financial services authority. "Supervision is still the missing piece of the jigsaw", he said. Finally, Mr Watson acknowledged that Mr Sarkozy's role as a "man of action" in managing the crises underlined the EU's need for a permanent President.

"Energy and willpower are required in politics, and are good for Europe", agreed Daniel Cohn-Bendit (Greens/EFA, DE), for his group. He stressed that all the crises - financial, environmental and hunger worldwide - are interdependent, and must be tackled together.

"These crises did not start in July or August, but years ago", he said in a reference to Mr Sarkozy's speech. "It was calls for unbridled growth and the rejection of financial market regulation a year ago that led us into these crises", he said, urging Europe's leaders to be "more self-critical". What Europe needs is a "social and environmental market", which entails "rethinking the way we manufacture, and the way we live".

"The German car industry already has money in tax havens, and does not need more", said Mr Cohn-Bendit, in a reference to car industry "climate change waivers" (which, he said, had been backed by both right and left wingers). He urged Mr Sarkozy to press for tax havens to be obliged to declare the country of origin of these funds. Finally, subjecting climate change proposals to unanimity in the Council "will put you at the mercy of countries that are backsliders" in December, he warned Mr Sarkozy.

For the UEN group, Cristiana MUSCARDINI (IT) said she agreed 100% with the statements and proposals made by French President Nicholas Sarkozy and thanked the Council for the immigration pact and the asylum pact, "common sectors which are important to us all". However, she called on certain "Commissioners, including competition Commissioners "to do the right thing". The statement on heating oil has not reassured the markets. "We need more on financial derivatives, which have laid low some European States.

Mrs Muscardini said a united, if not equal, Europe, would help to pinpoint strategies to solve the crisis, which she called "systemic" and "in order to combat a systemic crisis we need a new system". She called on Nicholas Sarkozy to recast global capitalism and maybe even go further to make sure that "market freedom is not untrammelled liberalism". She added that the European Central Bank "could have done more" to help banks that have and are "failing".

Francis WURTZ (FR), on behalf of the GUE/NGL group, warned that the "worst is still to come" of this "multidimensional crisis of such scale and seriousness". The dimensions may be "unfathomable", but the crisis still needs to be debated. The "shock" of this crisis is being felt everywhere and "we have a drop in public expenditure and plans for privatising public services are ahead," he said.

Mr Wurtz continued "We need to be held accountable to our citizens", adding that this cannot be avoided, by introducing regulation or "doing away with golden handshakes". He pointed to the fact that 2% of monetary transactions were for services and production, while the remaining 98% went on finance. "We must attack the roots of this evil" and we need a "new Bretton Woods".

According to Nigel FARAGE (UK) of the Independence and Democracy group, when President Sarkozy went to Georgia he was "not acting for the EU" as "there had been no meeting". "You did it as the President of France". As regards the financial crisis, "I'm glad the Irish and the Greeks did their own thing", he said, before adding "I haven't heard anyone say that this crisis is a failure of regulation. We haven't had a lack of regulation, we have a blizzard of regulation and this has not protected a single investor. We need to rethink what we have been doing. We need to act in our national interest. The Swiss can and they have the adaptability, to weather the financial crisis better than EU states"

The speaker from the non-aligned MEPs, Bruno GOLLNISCH (FR), said "We are looking at part of things here but we are quiet on the causes. No one saw this coming …. apart from a few economists and Jean Marie Le Pen's voice crying in the wilderness." In his view, "We need unfettered freeing up and decoupling of the financial side of things and the real economy, which is now declining." Turning to foreign affairs, he said "You don't see that Kosovo's unilateral declaration of independence paved the way to South Ossetia." His final comment was "You have to have a radical break with the global system and the movement of goods has to be rethought."

British and Irish speakers

Linda McAVAN (PES, UK) said it was not time to abandon climate change ambitions, adding that the socialists want "a credible agreement that balances environment, jobs and competitiveness" by Christmas and in time for international talks. "Let's have the political courage," she said.

Avril DOYLE (EPP-ED, IE) said that Europe's leaders had "committed themselves to reducing greenhouse gases by 20%". Now, in order to secure an agreement at Copenhagen "we will have to make a clear and unambiguous statement", she added. "There should be no delay and we cannot pay the higher price in the future" or, as President Sarkozy said, we will miss our date with history.

Giles CHICHESTER (EPP-ED, UK) told the House "It would not be far fetched to liken the crisis to a hurricane. Once the wind abates there is an illusion of calm but the devastation takes years to clear up." He continued "Tackling change is a long-term matter and there is no silver bullet". Moreover, "Over-regulation could precipitate something much worse, a re-run of the 1930's slump". "Let us not kill off the goose that lays the golden egg", he concluded.

John BOWIS (EPP-ED, UK) agreed with President Sarkozy that the climate change package "is so important that we cannot simply lose it under the pretext of a financial crisis". However, he went on "we will need reassurances for the countries which have real problems, as Poland does with coal" and "we must also be very clear that our support for biofuels in transport is dependent on the development of fuels from sustainable sources".

| Gog/Magog | EU/UN / 4th Kingdom | Solana | NewWorldOrder | 1^st Seal | America | Economic Crisis |

Training A Socialist Army of World Servers Part II News With Views (October 21, 2008) - Click here for part 1

Mind Change and Collective Service

"Obama.... plans to double the Peace Corps' budget by 2011 and expand AmeriCorps, USA Freedom Corps, VISTA, YouthBuild Program, and the Senior Corps. ...he proposes to form a Classroom Corps, Health Corps, Clean Energy Corps, Veterans Corps, Homeland Security Corps, Global Energy Corps, and a Green Jobs Corps."[1] Obama's Civilian National Security Force

"Jesus was a community organizer." (A visitor's response to "Training a Socialist Army of World Servers")

"[A community] organizer... does not have a fixed truth -- truth to him is relative and changing. ... To the extent that he is free from the shackles of dogma, he can respond to the realities of the widely different situations...."[2] Rules for Radicals by Saul Alinsky, the Marxist "organizer" whose disciples mentored Obama

“Jesus said... 'If you abide in My word, you are My disciples indeed. And you shall know the truth, and the truth shall make you free.'” John 8:31-32

"I was shocked," wrote one of our visitors, "when I read your first article on Obama's service programs. "Why is this getting a free ride in the press?" The simple answer is that Obama's revolutionary values match those of the mainstream media and the power brokers behind it. [3] Contrary voices are ignored or ridiculed. Perceptions are swayed by suggestions and exciting images, while facts become increasingly irrelevant. And as discernment drowns in this postmodern muddle, illusion reigns -- and few even care!

Without facts we'll lose our freedom! A sobering 1970 prediction by Professor Raymond Houghton, a spokesman for "progressive education," may soon be reality:

"...absolute behavior control is imminent.... The critical point of behavior control, in effect, is sneaking up on mankind without his self-conscious realization that a crisis is at hand. Man will... never self-consciously know that it has happened."[4]

STEPPING STONES TO RADICAL CHANGE

At the dawn of Stalin's deadly reign in the 1930s -- when Communist leader Antonio Gramsci was writing his cunning formula for transforming the West[5] -- numerous European Marxist were searching for effective strategies for mass control. As Hitler rose to power, some fled to America where they fine-tuned their tactics at "progressive" institutions like Columbia University. Welcomed by "progressive" educators, they found plenty of opportunity to test and teach their theories. Others merely exported their research to fellow revolutionaries in America. Their names -- Adorno, Marcuse, Lukács and Lewin -- don't ring many bells today, but no one can escape their impact on our nation.[6]

Their radical schemes fit right into the dialectic process. Like Saul Alinsky, their followers would "unfreeze" minds from uncompromising Truth, fill them with a passion for collectivism, "and refreeze" them with the new ideology. Before long, the mind-changing tactics that transformed the Soviet masses became the centerpiece of "service learning" in American schools and communities.

Remember, the primary goal behind such group service is "service learning," NOT compassion for the poor. The latter is mainly a feel-good incentive for group participation in a communal purpose, vision, activity and transformation.

This scheme matches the old Nazi model. Young Germans from age 10 to 19 had to serve in the Hitler Youth program. And, as Hitler affirmed back in 1933, 'the whole of National Socialism [Nazism] is based on Marxism."[7] His brainwashed servants, who became anything but compassionate, just copied the Communist strategies:

"The purpose of labor service was partly practical -- to... provide a source of cheap labor -- but mainly ideological. It was part of the cult of community current in the youth movement now manipulated by the Nazis for their own end."[8]

But shouldn't we gladly and willingly serve the needy and each other? Yes, of course! But not in ways that prompt us to twist, compromise or hide His Word under the banner of unity or charity.

LOVING THEIR SERVITUDE

"Belongingness" is the "ultimate need of the individual," wrote William Whyte, co-author of The Organization Man. His benchmark book -- a bestseller back in the sixties -- describes group thinkers who would gladly trade their home-taught convictions for the warm fuzzies of "belongingess."

According to Whyte, "man exists as a unit of society," and "only as he collaborates with others does he become worth while."[9] That sad assumption provided a useful "crisis" that spurred vast numbers of transformational "leadership training" conferences everywhere. As Whyte said,

"What is needed is an administrative elite, people trained to recognize that what man really wants most is group solidarity even if he does not realize it himself. ... They won't push him around; they won't even argue with him... They will adjust him. Through the scientific application of human relations, these... technicians will guide him into satisfying solidarity with the group so skillfully and unobtrusively that he will scarcely realize how the benefaction has been accomplished."[9]

Two decades earlier, Aldous Huxley had shared his concern about such "belongingness." Knowing the manipulative tactics behind collectivism, he wrote in Brave New World,

"The most important Manhattan Projects of the future will be vast government-sponsored enquiries into what the politicians and the participating scientists will call 'the problem of happiness' — in other words, the problem of making people love their servitude....

"The love of servitude cannot be established except as the result of a deep, personal revolution in human minds and bodies. To bring about that revolution we require... First, a greatly improved technique of suggestion.... Second, a fully developed science of human differences.... (Round pegs in square holes tend to have dangerous thoughts about the social system and to infect others with their discontents.)"[10]

Today's leadership training and continual assessments help our managers assess and track "human resources" everywhere -- even in churches. Those assessments of "human differences" help facilitators create the conflicts and stir tension needed for change. As Saul Alinsky wrote,

"...the organizer is constantly creating new out of the old. He knows that all new ideas arise from conflict [tension]; that every time man has had a new idea it has been a challenge to the sacred ideas of the past and the present and inevitably a conflict has raged."[11]

Alinsky taught his "organizers" (or facilitators) to lead "with a free and open mind void of certainty, hating dogma."[11] Do those words sound familiar? They would if you've read our excerpts from UNESCO: Its purpose and Its Philosophy by Julian Huxley (Aldous' brother). As head of this powerful UN agency, he wrote,

"The task before UNESCO... is to help the emergence of a single world culture.... [At] the moment, two opposing philosophies of life confront each other.... individualism versus collectivism... capitalism versus communism... Christianity versus Marxism. Can these opposites be reconciled, this antithesis be resolved in a higher synthesis? ... If we are to achieve progress, we must learn to uncrystallize our dogmas."[12]

That's the aim of the dialectic process: to "uncrystalize our dogmas." Its success is evident in today's post-modern generation that rejects the very notion of truth and certainty. Though he claims to be Christian, Obama fits this picture. During a 2004 interview with Chicago Sun-Times religion editor Cathleen Falsani for her book, The God Factor, Obama said,

"I’m rooted in the Christian tradition. I believe there are many paths to the same place, [emphasis mine see ] and that is a belief that there is a higher power, a belief that we are connected as a people.'"[13]

This is the new pluralism! Unity over Truth! Any path is okay -- unless it clashes with the ground rules for the dialectic process -- the foundation for Obama's expansive service plan. His website gives us a glimpse of that plan:

Obama will expand AmeriCorps from 75,000 slots today to 250,000.... He will establish a Classroom Corps to help teachers and students.... and a Homeland Security Corps to help communities plan, prepare for and respond to emergencies. ...

Obama will double the Peace Corps to 16,000 by 2011. He will work with the leaders of other countries to build an international network of overseas volunteers so that Americans work side-by-side with volunteers from other countries. ...

Obama will set a goal that all middle and high school students do 50 hours of community service a year. He will develop national guidelines for service- learning and will give schools better tools both to develop programs and to document student experience."[14] Read full story...

| EU/UN / 4th Kingdom | NewWorldOrder | America |

Thanks for the story JB, and he brings to light the connection of Obama with the Alliance of Civilizations. To find out some more on the AoC, please check out Richard Peterson's blog. To read the story from Obama's website in context to what the AoC stands for, read:

An Alliance of Civilizations Could Make Friends for Obama's America Official Obama Website (February 1, 2008) - "As an American residing in Spain, the Alliance of Civilizations (AoC), a United Nations initiative underway since 2004, sounds as tailor-made for Barack Obama as those trendy gray suits he wears. US participation in the Alliance or in some other similar peace initiative, led by an Obama Administration, could result in peace and understanding winning out over war and extremism."

Keep in mind that "extremism" to the AoC is defined as claiming sole ownership to the Truth, something the Bible does, and so anyone who associates themselves to absolutely becomes an "extremist."

John 14:6
Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

Revelation 13:1-9
And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy. And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority. And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast. And they worshipped the dragon which gave power unto the beast: and they worshipped the beast, saying, Who is like unto the beast? who is able to make war with him? And there was given unto him a mouth speaking great things and blasphemies; and power was given unto him to continue forty and two months. And he opened his mouth in blasphemy against God, to blaspheme his name, and his tabernacle, and them that dwell in heaven. And it was given unto him to make war with the saints, and to overcome them: and power was given him over all kindreds, and tongues, and nations. And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world. If any man have an ear, let him hear.

For more on the beast from the sea with the seven heads and 10 horns, examine this chart and read about Daniel's prophesied fourth kingdom. Rome has been reborn as prophesied and now is coming to power as described with a seven-year confirmed covenant with many, including Israel, and is led by one man who has been given the power to speak for Europe with one voice. And Obama is very aligned with the policies coming from Europe. Is McCain any better? While not as vocal, he is a member of the CFR and also has globalist leanings. So from where I stand today it appears that either way the globalists will get what they want, but it also appears that Obama has captured the minds of much of the nation and the globalists and the rest of the world couldn't be happier. I'm glad my hope is not in this world or I might fall apart with it, where is yours? Are you watching?

Biden to Supporters: "Gird Your Loins", For the Next President "It's Like Cleaning Augean Stables" ABC News Political Radar Blog (October 20, 2008) - ABC News' Matthew Jaffe Reports: Sen. Joe Biden, D-Del., on Sunday guaranteed that if elected, Sen. Barack Obama., D-Ill., will be tested by an international crisis within his first six months in power and he will need supporters to stand by him as he makes tough, and possibly unpopular, decisions. "Mark my words," the Democratic vice presidential nominee warned at the second of his two Seattle fundraisers Sunday. "It will not be six months before the world tests Barack Obama like they did John Kennedy. The world is looking. We're about to elect a brilliant 47-year-old senator president of the United States of America. Remember I said it standing here if you don't remember anything else I said. Watch, we're gonna have an international crisis, a generated crisis, to test the mettle of this guy."

"I can give you at least four or five scenarios from where it might originate," Biden said to Emerald City supporters, mentioning the Middle East and Russia as possibilities. "And he's gonna need help. And the kind of help he's gonna need is, he's gonna need you - not financially to help him - we're gonna need you to use your influence, your influence within the community, to stand with him. Because it's not gonna be apparent initially, it's not gonna be apparent that we're right."

Not only will the next administration have to deal with foreign affairs issues, Biden warned, but also with the current economic crisis. "Gird your loins," Biden told the crowd. "We're gonna win with your help, God willing, we're gonna win, but this is not gonna be an easy ride. This president, the next president, is gonna be left with the most significant task. It's like cleaning the Augean stables, man. This is more than just, this is more than – think about it, literally, think about it – this is more than just a capital crisis, this is more than just markets. This is a systemic problem we have with this economy."

The Delaware lawmaker managed to rake in an estimated $1 million total from his two money hauls at the downtown Sheraton, the same hotel where four years ago Sen. John Kerry, D-Mass., clinched the Democratic nomination. Despite warning about the difficulties the next administration will face, Biden said the Democratic ticket is equipped to meet the challenges head on. "I've forgotten more about foreign policy than most of my colleagues know, so I'm not being falsely humble with you. I think I can be value added, but this guy has it," the Senate Foreign Relations chairman said of Obama. "This guy has it. But he's gonna need your help. Because I promise you, you all are gonna be sitting here a year from now going, 'Oh my God, why are they there in the polls? Why is the polling so down? Why is this thing so tough?' We're gonna have to make some incredibly tough decisions in the first two years. So I'm asking you now, I'm asking you now, be prepared to stick with us. Remember the faith you had at this point because you're going to have to reinforce us."

"There are gonna be a lot of you who want to go, 'Whoa, wait a minute, yo, whoa, whoa, I don't know about that decision'," Biden continued. "Because if you think the decision is sound when they're made, which I believe you will when they're made, they're not likely to be as popular as they are sound. Because if they're popular, they're probably not sound."

Biden emphasized that the mountainous Afghanistan-Pakistan border is of particular concern, with Osama bin Laden "alive and well" and Pakistan "bristling with nuclear weapons." "You literally can see what these kids are up against, our kids in that region," Biden said in recalling when his helicopter was forced down due to a snowstorm there. "The place is crawling with al Qaeda. And it's real." "We do not have the military capacity, nor have we ever, quite frankly, in the last 20 years, to dictate outcomes," he cautioned. "It's so much more important than that. It's so much more complicated than that. And Barack gets it."

After speaking for just over a quarter of an hour, Biden noticed the media presence in the back of the small ballroom. "I probably shouldn't have said all this because it dawned on me that the press is here," he joked. "All kidding aside, these guys have left us in a God-awful place," he then said of the Bush regime, promptly wrapping up his remarks. "We have the ability to straighten it out. It's gonna take a little bit of time, so I ask you to stay with us. Stay with us."
| NewWorldOrder | America | Economic Crisis |

Please listen to Glenn Beck's commentary on this story and the possible implications in the audio files here. I think this could be what Glenn pondered on his show and possibly related to Middle East tensions that I think may be starting in the near future. Glenn touches on some other significant topics as well in the audio clip such as the October money printing spree.

'Smears' About Obama Largely True Newsmax (October 20, 2008) - The Obama campaign says its candidate is a victim of “smears” — and has even created a Web site to fight such attacks. But a Newsmax investigation finds many of the so-called smears are largely based in truth — and the Obama campaign uses half-truths, clever language, and ad hominem attacks to spin the facts.

Obama’s www.FightTheSmears.com focuses mainly on anti-Obama messages being repeated on the Internet and talk radio, the only media where Obama's ideological allies are not dominant. These "smears" and the Obama rebuttals are often framed in lawyerly language that leaves much wiggle room in the candidate’s answers. FightTheSmears.com also makes no attempt at objectivity, describing Obama’s critics as “pushing misleading research and distorted claims” because they are “ideologues” busy “spreading a ‘pack of lies’ about Barack.”

In a section of the site titled, “Who’s Behind the Smears?” visitors can see a chart naming seven groups and six individuals with lines that suggest multiple, sinister connections between them. The people and groups named are real and are members of Washington’s small but conservative sphere of power and influence. The Obama conspiracy chart links all of these conservative individuals and groups back to the critics who dogged the “Clinton 1992 Campaign.” This may come as something as a surprise to Hillary Clinton, as many of the “smears” against Obama first surfaced during her heated primary contest with him.

Newsmax reviewed 10 random claims and related rebuttals posted on Obama’s ever-changing FightTheSmears.com to gauge their veracity. Here’s what we found:

Claim No. 1: Obama's campaign is funded by the rich, big corporations and foreigners.

“Barack Obama was the only major presidential candidate this year to completely reject contributions from The Washington lobbyists and special interest PACs that have dominated our politics for years,” the Obama site says of the persistent online criticisms of its fundraising. “Instead, this campaign has been owned by the more than 3.1 million everyday Americans who have donated in small amounts.”

Not so, according to campaign finance records. Nearly half of the $600 million raised by Obama to date has come from wealthy donors and special interests. Obama's allies months ago dropped their ad linking Republican rival “Exxon John” McCain to Big Oil after it came to light that Obama had taken far more money from Exxon-Mobil than McCain.

“The Obama campaign has complied fully with federal election law,” claims the Obama site, “including donor eligibility and contribution disclosure requirements.” However, one giant loophole the politicians wrote into the law allows contributions in amounts of $200 or less with no donor identification. Obama claims that $300 million in campaign funds was given by these small donors, and he won’t release their names and addresses. McCain has released his whole donor database, including those who have contributed less than $200.

Critics argue that the other half of Obama’s campaign haul — the part not raised from big corporate donors and special interests — came in a small flood of anonymous donations that might be foreign or corrupt, or both.

Claim No. 2: Obama has had a close, ongoing relationship with domestic terrorist Bill Ayers.

The Obama site acknowledges that its candidate and Ayers ”served on the board of an education-reform organization in the mid-1990s,” but maintains most stories about the links between Obama and Ayers are phony or exaggerated. It does not mention that Obama and Ayers worked together on the board distributing millions of dollars with the aim of radicalizing Chicago schoolchildren.

Nor does the site acknowledge that Obama kicked off his first political campaign in the living room of Ayers, the former Weather Underground leader. (Obama is currently saying it was not the first event. There is no dispute that one of Obama’s first political events in his first run for public office was held in Ayers’ home.)

There is also no dispute the Weather Underground bombed the Pentagon the Capitol, the home of a New York Supreme Court justice, and a police station, among other targets. FBI agent Larry Grathwohl, who infiltrated the group, has recounted Ayers teaching him how to make bombs and saying, “In the revolution, some innocent people need to die.”

“Smear groups and now a desperate McCain campaign are trying to connect Barack to William Ayers using age-old guilt by association techniques . . .” says the Obama Web site. Actually, McCain and Obama critics are questioning why Obama would continue to associate with a man who, as recently as 2001, said he did not do enough and wished he had bombed more.

Conservatives also note that if Ayers had bombed abortion clinics, the liberal media would brand him a pariah forever. What does it tell us about the liberal media’s and Obama’s judgment and values that they see nothing wrong with embracing unrepentant terrorist Ayers today?

Claim No. 3: Obama takes advice from executives of troubled mortgage backer Fannie Mae.

“John McCain started smearing Obama about non-existent ties to Fannie Mae in some of his deceptive attack ads,” says FightTheSmears.com. The site downplays connections between Obama and two former heads of the giant mortgage-backing institution — James A. Johnson and Franklin D. Raines — whose corruption played a key role in the current financial crisis. But an editorial in the Aug. 27, 2008, Washington Post described Johnson and Raines, as “members of Mr. Obama’s political circle.”

Raines advised the Obama campaign on housing matters. Obama chose Johnson to select his vice presidential running mate. But because neither are advising Obama today, this Web site’s present-tense claim that he “doesn’t [not didn’t] take advice from Fannie Mae execs” is technically, if deceptively, true. Johnson also reportedly helped raise as much as $500,000 for Obama’s campaign.

And despite Obama’s lack of seniority in the U.S. Senate, he pocketed more than $105,000 in political contributions, the third-highest amount given to any lawmaker, directly from Fannie Mae and Freddie Mac. Obama’s Web site leaves all this unmentioned.

Claim No. 4: Obama has close ties with the Association of Community Organizations for Reform Now (ACORN), a group suspected of massive voter registration fraud.

Obama’s site says the candidate was never an ACORN employee and that ACORN “was not part of Project Vote, the successful voter registration drive [Obama] ran in 1992.” In defending Obama, the site resorts to smearing former Ohio Secretary of State Ken Blackwell — calling him a “discredited Republican voter-suppression guru” — for daring to fight the vote fraud so often associated with operatives of ACORN, among the largest radical groups in the United States.

As Newsmax has documented in ["Clever Obama Tries To Bury ACORN Past,"] Obama’s Web site is attempting to deceive when it says Obama was never “hired” to work as a trainer for ACORN’s leaders. In fact, he did the work for free from at least 1993 until 2003. ACORN spokesman Lewis Goldberg acknowledges in the Oct. 11, 2008, New York Times that Obama trained ACORN leaders. And Obama worked as a lawyer for ACORN.

As to heading up Project Vote in Illinois, Obama said during a speech to ACORN leaders last November, "[When] I ran the Project Vote voter registration drive in Illinois, ACORN was smack-dab in the middle of it.” Veteran journalist Karen Tumulty described Project Vote in the Oct. 18, 2004, issue of Time magazine as “a nonpartisan arm of the Association of Community Organizations for Reform Now” after interviewing its national director.

The co-founder of ACORN, former Students for a Democratic Society official Wade Rathke, described Project Vote as one of ACORN’s “family of organizations.” Over the years, ACORN and its front groups, like the one Obama ran in Illinois, have registered more than 4 million voters. When authorities in Virginia checked ACORN registrations, it found that 83 percent were fraudulent or had problems. This, in theory, could mean ACORN may have created the opportunity for stealing more than 3.3 million votes in this November’s election, a margin far wider than that by which Obama is likely to win. more...
| America |

Bush backs EU plan on global financial reform EU Observer (October 20, 2008) - US President George W. Bush has backed the European idea of a series of global talks on reform of the world's financial system, with the first summit set to be held shortly after the US presidential elections in November.

The outgoing American leader agreed there needs to be further co-ordinated effort to tackle the "challenges facing the global economy" after a three-hour meeting at Camp David on Saturday (18 October) with French President Nicolas Sarkozy, whose country currently chairs the 27-strong EU, and with European Commission President Jose Manuel Barroso. The three politicians said they would approach other world powers - both from the richest nations and the newly emerging economies such as China and India - and try to reach "agreement on principles of reform needed to avoid a repetition and assure global prosperity in the future."

Later summits will be "designed to implement agreement on specific steps to be taken to meet those principles," the trio said in a joint statement. The top-level talks are due to tackle controversial elements of the current financial order which are seen by some as having contributed or failed to prevent the credit crunch, which originated in the US and spread across the globe.

At the EU level, several such issues have been highlighted as the possible targets of stricter regulation - rating agencies, tax havens, hedge funds, executive pay but also the very role of key global institutions, the International Monetary Fund and World Bank. "We believe in the capacity and the ability of the American people to come up with the answers the world is waiting for, is expecting. Because this sort of capitalism is a betrayal of the capitalism we believe in," Mr Sarkozy said, newswires report.

"The meeting should be held rapidly, perhaps before the end of November. Since the crisis started in New York, maybe we can find the solution in New York," he added. However, US president Bush stressed that "as we make the regulatory and institutional changes necessary to avoid a repeat of this crisis, it is essential that we preserve the foundations of democratic capitalism - the commitment to free markets, free enterprise and free trade." "We must resist the dangerous temptation of economic isolationism and continue the policies of open markets that have lifted standards of living and held millions of people escape poverty around the world." Read full story...

More European banks in the red

Meanwhile, Dutch ING and French Caisse d'Epargne have joined the list of banks affected by the financial crisis. The Dutch government agreed on Sunday (19 October) to pump €10 billion into financial group ING, with the bank's management agreeing to scrap executive bonuses and its year-end dividend to shareholders. The move followed a round of tense negotiations over the weekend sparked by recent share falls by over a 25 percent of value, Reuters reported. The financial injection by the Dutch government is part of €20 billion package the Hague had put aside for possible bank bail-outs, in a move agreed in principle by all other European member states last week in a bid to prevent a bankruptcy of any financial situation essential for a country's whole economy.

In Germany, Bavaria's public sector bank BayernLB will be the first to use the German government's €500 billion rescue package. The bank's supervisory board is due to meet on Tuesday (21 October) to discuss the package, Bavarian state Finance Minister Erwin Huber said in an interview for Bild newspaper.

In France, the chairman of Groupe Caisse d'Epargne and two other top managers resigned on Sunday, following a €600 million trading scandal where a small team of traders had placed illicit bets on stock markets. The French government reacted by suggesting a special audit of all banks in the country.

| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Europeans signal clash with US over global capitalism Telegraph UK (October 19, 2008) - World leaders will meet in the United Sates next month to find a fix for the international financial crisis after President George W. Bush bowed to European calls for a global economic summit. Mr Bush bowed to demands from French President Nicolas Sarkozy, current holder of the EU's rotating presidency and José Manuel Barroso, President of the European Commission, at his Camp David presidential retreat.

The emboldened Europeans signalled that the bloc was ready to ambush Mr Bush and his successor, who is expected to attend the meeting, to impose a European vision for new financial market regulation. "The EU must take over the leadership of change because that is what it has long been calling for while the US was not favourable," said José Luis Rodriguez Zapatero, the Spanish Prime Minister. "There has to be regulation and limits to everything to do with incentives and rewards."

The French leader reiterated his attacks on the American-led sytem of capitalism. "We cannot continue along the same lines because the same problems will trigger the same disasters," said Mr Sarkozy. "This is no longer acceptable. This is no longer possible. This sort of capitalism is a betrayal of the sort of capitalism we believe in."

The summit, expected to take place just days or weeks after US presidential elections in November, will start a political tussle over The US President has backed the steps European nations have taken in recent weeks to stabilise financial markets but has signalled American uneasiness with some EU calls for a root and branch overhaul of capitalism.

But remarks after the Camp David meeting has already exposed deep trans-Atlanic differences. "We will work to strengthen and modernise our nations' financial systems so we can help ensure that this crisis doesn't happen again," said Mr Bush. "As we make the regulatory and institutional changes necessary to avoid a repeat of this crisis, it is essential that we preserve the foundations of democratic capitalism a commitment to free markets, free enterprise, and free trade," he said. "We must resist the dangerous temptation of economic isolationism and continue the policies of open markets that have lifted standards of living and helped millions of people escape poverty around the world."

In contrast, President Sarkozy and other EU leaders have floated radical ideas of reforming rating agencies, the creation of new international financial supervisors and tough regulation of hedge funds and tax havens. Even the venue of the global economic conference could be a source of discord after President Sarkozy called for it to be held under the auspices of the United Nations in New York, near America's Wall Street financial district, the source, the EU claims, of the present economic crisis. "Insofar as the crisis began in New York, then the global solution must be found to this crisis in New York," Mr Sarkozy said.

A weakened President Bush, who will be seeing out his last months in office after US presidential elections on Nov 4. The US leader is expected to try and wrest back control by holding the summit in Washington. European diplomats are hoping that a new US President-elect might be more receptive to European style "social market" reforms, especially if the elections sweep Democrat candidate Barack Obama into power. As Mr Bush nears the end of his second term and prepares to hand over the White House in January next year, any future American financial reforms will fall to his successor.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

In light of the Glenn Beck show regarding Biden's comments, what I've been feeling about an Obama win would fit quite well into the further integration of America into the global economy as a step to a new global financial system not run on paper currency, but electronically tracked data based on a unique ID system to label individuals in a global database. Crazy? You bet, and every day it seems a step closer in this climate of fear and uncertainty. My guess is that much of the world will accept this solution as an only way out. Time will tell - keep watching.

Obama raises stunning $150 million in September Associated Press (October 19, 2008) - Barack Obama raised more than $150 million in September, a stunning and unprecedented eruption of political giving that has given him a wide spending advantage over rival John McCain. The Democrat's campaign released the figure Sunday, one day before it must file a detailed report of its monthly finances with the Federal Election Commission.

Obama's money is fueling a vast campaign operation in an expanding field of competitive states. It also has underwritten a wave of both national and targeted video advertising unseen before in a presidential contest. Campaign manager David Plouffe, in an e-mail to supporters Sunday morning, said the campaign had added 632,000 new donors in September, for a total of 3.1 million contributors to the campaign. He said the average donation was $86.

The Democratic National Committee, moments later, announced that it raised $49.9 million and had $27.5 million in the bank at the start of October. The party has been raising money through joint fundraising events with Obama and can use the money to assist his candidacy.

Obama's numbers are possible because he opted out of the public financing system for the fall campaign. McCain, the Republican nominee, chose to participate in the system, which limits him to $84 million for the September-October stretch before the election. Obama initially had promised to accept public financing if McCain did, but changed his mind after setting primary fundraising records. His extraordinary fundraising is bound to set a new standard in politics that could doom the taxpayer-paid system. Many Republicans have begun to second-guess McCain's decision to participate in the program.

McCain, reacting to Obama's announcement, raised the potential for fundraising abuses. He said Obama is "completely breaking whatever idea we had after Watergate to keep the costs and spending on campaigns under control. ... That has unleashed now in presidential campaigns a new flood of spending that will then cause a scandal, and then we will fix it again" While McCain said he was not suggesting the Obama campaign had done anything illegal or improper, he said "history shows us where unlimited amounts of money are in political campaigns, it leads to scandal."

Obama's monthly figure pushed his total fundraising to $605 million. No presidential candidate has ever run such an expensive campaign. His campaign raised $65 million in August, his previous best. "The overall numbers obviously are impressive," Plouffe said in a campaign video. "But it's what's beneath the numbers in terms of average Americans who have had enough, who want a change and who are really fueling this campaign." With his money, and a favorable political wind at his back, Obama has secured his foothold in states that have voted for Democratic presidential candidates in the past. But he has also been able to expand the contest to reliably Republican states, forcing McCain and the Republican Party to spend their money defensively.

Plouffe pointed out that the campaign is now spending resources in West Virginia. Obama running mate Joe Biden was scheduled to campaign in Charleston, W.Va., on Friday and the campaign has secured television advertising in the state for the next two weeks, according to ad data obtained by The Associated Press. Plouffe hinted at further expansion, noting that public opinion polls show the race tightening in Georgia and North Dakota.

As much as Obama raised, he needed a big fundraising month to justify his decision to bypass the public finance system. Financially, he has been competing not only against McCain, but against the GOP, which raised $66 million in September. The combined Obama and DNC totals for September now give the Democrats a distinct financial advantage going into Election Day, just 16 days away. McCain spoke on "Fox News Sunday."
| America |

New Home Construction at Lowest Level Since World War II Fox News (October 18, 2008) - The nation is on track to build fewer homes this year than at any time since the end of World War II, adding to the woes of an economy that analysts said Friday has almost certainly entered a recession.

While the economic outlook darkened even further with bad reports on layoffs and consumer confidence, it was one of the quietest days since the financial meltdown began a month ago. Wall Street's tumultuous week turned out to be its best in five years. The Dow Jones industrial average lost 127 points Friday but turned in the strong week because of two huge days of gains — a record 936-point jump on Monday and an increase of 401 points Thursday.

Friday was still marked by the huge swings that have become typical lately. At various points the Dow was up nearly 300 points and down nearly 250, and it finished with a triple-digit move for the 22nd time in 25 trading sessions.

A monthly survey by the National Association of Home Builders showed sentiment among home builders hit a record low in early October. David Seiders, chief economist for the group, said builders are being hit by a double whammy from the financial turmoil: It's harder for them to get loans to pursue new houses, and more difficult to sell those they do build. He forecast that builders will keep slashing production in coming months, with construction starts for new homes and apartments totaling just 936,000 this year, the lowest level since 1945. "The builders are telling us that the financial crisis is really hurting because people justifiably have no idea where things are going," Seiders said.

Before the markets opened, President Bush went to the headquarters of the U.S. Chamber of Commerce to say that the $700 billion financial rescue package was "big enough and bold enough to work." But he cautioned that it would take time to unlock credit markets.

Adam Levitin, an associate professor at Georgetown University Law School, said that even with the government's injection of billions into the banks, the high debt loads carried by consumers and shortage of creditworthy borrowers could continue to chill lending. "Who's going to lend to GM right now?" Levitin said at a conference organized by the American Bar Association. He also asked what banks would lend money to homeowners with troubled mortgages.

Analysts said new data released Friday showed it's probably too late for the economy to avoid a recession. Many of them said they now had recessions in their forecasts, believing that the overall economy, as measured by total domestic production, probably shrank in the July-to-September quarter, dragged lower in part by the continued plunge in housing. "I don't think there is any ambiguity with respect to whether we are in a recession," said Mark Zandi, chief economist at Moody's Economy.com. "I think it actually started at the end of last year, and because of the financial panic we are going through now, it is likely to last another year."

Other economists said they were looking for at least three consecutive quarters of contraction, reflecting in part the fact that consumers, who account for two-thirds of total economic activity, are showing the strains of the biggest upheaval in the financial sector in 70 years.

A new University of Michigan/Reuters survey showed consumer confidence plunged in early October to its second-lowest level in the past 28 years. "Concerns about falling employment, incomes and wealth have overshadowed relief from lower energy prices," said Sara Johnson, an economist at Global Insight, a Lexington, Mass., forecasting firm.

The Commerce Department said Friday that construction of new homes and apartments dropped by a bigger-than-expected 6.3 percent in September to an annual rate of 817,000 units, the second weakest performance in government statistics dating back to 1959. The only weaker monthly showing occurred in January 1991, when the U.S. was in a recession and going through a similar painful housing correction.

In a bleak sign of future construction, applications for new building permits fell a sharp 8.2 percent to an annual rate of 786,000 units, the weakest level in more than 25 years. The government also sharply revised lower its construction data for July and August. That was after dismal news earlier this week that retail sales fell by 1.2 percent in September.

Influential billionaire investor Warren Buffett said in opinion piece in The New York Times that he sees opportunity in the Wall Street chaos. He's been moving his personal investments from safe Treasuries into U.S. stocks. "To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions," Buffett wrote. "But fears regarding the long-term prosperity of the nation's many sound companies make no sense." The market eventually will turn around. "So if you wait for the robins, spring will be over," he said.

On the housing front, while the sharp cutbacks in production will help reduce huge inventories of unsold homes, the problem is that rising levels of foreclosures are dumping more homes on the already glutted market. Zandi said he believed that home prices, which have already fallen by 20 percent, will fall by another 10 percent and will not stabilize until the middle of next year.

Kim Shelpman, the chief executive of Holiday Builders, which operates in Texas, Florida, Alabama and South Carolina, said that her company was competing against a rising tide of foreclosures, but that she believed the excess inventory of homes was being "eaten up at a much quicker pace."

Jesse Barrington, a sale consultant with Sotherby Homes, said the sales slowdown nationwide had been less pronounced in the upscale suburbs of north of Dallas where about 20 homes in a new subdivision had recently sold. "In a normal economy, this is a good year. In this economy, it's phenomenal," he said. In the South, sales managed a small 0.5 percent gain in September. They rose by 5.6 percent in the Midwest, where a boost in apartment building offset a slide in single-family homes to a record low.

The weakness last month was led by a 21 percent drop in the Northeast, where construction of single-family units fell to the lowest level on record, and the West, where building slipped by almost 17 percent with single-family construction also hitting a record-low in that region.

On Tuesday, the Treasury Department announced it would inject up to $250 billion in U.S. banks in return for partial ownership stakes, in a program similar to one launched in 1932 by President Herbert Hoover. The government hopes banks will use the capital infusions to rebuild their reserves and bolster lending to customers.
| America | Economic Crisis |

Corsi releases statement blocked by Kenya WorldNet Daily (October 17, 2008) - For the past week, I have been in Nairobi, Kenya, investigating the ties between Sen. Barack Obama and Kenyan Prime Minister Raila Odinga, as first presented in my New York Times No. 1 best-selling book, "The Obama Nation: Leftist Politics and the Cult of Personality." Chapter 4 of my book was devoted to Kenya. As a result of the investigative journalism I have done in Kenya this past week, I can now verify the following:

• Senator Barack Obama and Prime Minister Raila Odinga have been in direct contact since Senator Obama's visit to Kenya in 2006.
• Senator Obama has advised Raila Odinga on campaign strategy and helped Raila Odinga raise money in the United States for Raila Odinga's presidential campaign in Kenya.
• The memorandum of understanding Raila Odinga, representing the Orange Democratic Movement, or ODM, and Sheikh Abdullahi Abdi, the chairman of the National Muslim Leaders Forum, or NAMLEF, signed on Aug. 27, 2007, is now verified as a genuine document in the original long form Abdi produced for Kenyan television.
• An eight-page document drafted for Raila Odinga as an executive summary of his campaign strategy, entitled "Positioning and Marketing of the Orange Democratic Movement and the People's President – Hon. Raila A. Odinga," that was allegedly prepared by the party's core strategy team has also been verified as a valid document.
• Odinga's 2007 presidential campaign strategy called for exploiting anti-Kikuyu sentiments, claiming victory and charging voter fraud even if the campaign knew the election had been legitimately lost and being willing to fan the flames of ethnic tribal tensions and use violence as a last resort by calling for mass action which led to the destruction of properties, injuries, loss of life and the displacement of over 500,000 Kenyans. This was to create a situation forcing the Electoral Commission of Kenya to declare Odinga the winner or having him declare himself, by force, "The People's President" at a rally in Uhuru Park.
• Even though Odinga has not fulfilled his promises to the Muslims who voted for him, he continues to cause concern among Kenyan Christians, because he has not declared his position on Shariah law and the Kadhi's Court in Kenya.
• Sen. Obama remained in active phone contact with Odinga, through the New Hampshire Democratic Party primary in January, continuing to support Odinga, turning a blind eye to the memorandum of understanding signed with Muslims and the post-election violence instigated as part of the ODM campaign strategy.

Until the U.S. presidential election in November, I will be substantiating these charges on WorldNetDaily, where I am a senior staff investigative reporter. I also plan to be actively on radio and television in the United States to explain the results of my research in Kenya and the articles I plan to write on WorldNetDaily. Read full story...

| Islam | America |

Gordon Brown expects news on global regulation plans in the 'next few days' Citywire (October 15, 2008) - Prime Minister Gordon Brown has said he expects progress towards a cocoordinated approach to cross order regulation of the financial markets in 'the next few days.' Taking time out from his meeting with EU leaders in Brussels, he told journalists that leaders needed to work together to create a new ‘financial vision’ to ensure that the current crisis in financial markets does is not repeated.

He said it was time to move to stage two of the recovery process and establish appropriate regulation and an early warning process to ‘root out irresponsibilities and excesses’. ‘We need supervision and regulation where it has been lacking and where it is necessary, and international co-operation. We need an early warning system and proper co-ordination,’ he said.

José Manuel Barroso paid tribute to Brown’s role in driving forward the EU response to the financial crisis and said he agreed it was time to take action ‘to the next level’. The two leaders will attend the EU Council in Brussels over the next two days. Gordon Brown said that US president George Bush shared his sense of urgency. He said that although the new US president elected at the end of November will have to sign up to any eventual plan, he said there is no need to wait.

On Monday, Gordon Brown said the world needs an effective global early warning system to alert people across continents to economic and financial risks. He also called for globally accepted standards of supervision that apply equally in all countries, stronger arrangements for cross-border supervision of global firms, and much stronger institutions for co-operation and concerted action in a crisis. Brown is understood to have recommended the creation of a series of colleges of supervisors to oversee cross-border financial institutions.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

The O Jesse Knows New York Post (October 14, 2008) - PREPARE for a new America: That's the message that the Rev. Jesse Jackson conveyed to participants in the first World Policy Forum, held at this French lakeside resort last week. He promised "fundamental changes" in US foreign policy - saying America must "heal wounds" it has caused to other nations, revive its alliances and apologize for the "arrogance of the Bush administration."

The most important change would occur in the Middle East, where "decades of putting Israel's interests first" would end. Jackson believes that, although "Zionists who have controlled American policy for decades" remain strong, they'll lose a great deal of their clout when Barack Obama enters the White House.

"Obama is about change," Jackson told me in a wide-ranging conversation. "And the change that Obama promises is not limited to what we do in America itself. It is a change of the way America looks at the world and its place in it." Jackson warns that he isn't an Obama confidant or adviser, "just a supporter." But he adds that Obama has been "a neighbor or, better still, a member of the family." Jackson's son has been a close friend of Obama for years, and Jackson's daughter went to school with Obama's wife Michelle.

"We helped him start his career," says Jackson. "And then we were always there to help him move ahead. He is the continuation of our struggle for justice not only for the black people but also for all those who have been wronged." Read full story...

Will Obama's election close the chapter of black grievances linked to memories of slavery? The reverend takes a deep breath and waits a long time before responding. "No, that chapter won't be closed," he says. "However, Obama's victory will be a huge step in the direction we have wanted America to take for decades." Jackson rejects any suggestion that Obama was influenced by Marxist ideas in his youth. "I see no evidence of that," he says. "Obama's thirst for justice and equality is rooted in his black culture."

But is Obama - who's not a descendant of slaves - truly a typical American black? Jackson emphatically answers yes: "You don't need to be a descendant of slaves to experience the oppression, the suffocating injustice and the ugly racism that exists in our society," he says. "Obama experienced the same environment as all American blacks did. It was nonsense to suggest that he was somehow not black enough to feel the pain."

Is Jackson worried about the "Bradley effect" - that people may be telling pollsters they favor the black candidate, but won't end up voting for him? "I don't think this is how things will turn out," he says. "We have a collapsing economy and a war that we have lost in Iraq. In Afghanistan, we face a resurgent Taliban. New threats are looming in Pakistan. Our liberties have been trampled under feet . . . Today, most Americans want change, and know that only Barack can deliver what they want. Young Americans are especially determined to make sure that Obama wins."

He sees a broad public loss of confidence in the nation's institutions: "We have lost confidence in our president, our Congress, our banking system, our Wall Street and our legal system to protect our individual freedoms. . . I don't see how we could regain confidence in all those institutions without a radical change of direction."

Jackson declines to be more concrete about possible policy changes. After all, he insists, he isn't part of Obama's policy team. Yet he clearly hopes that his views, reflecting the position of many Democrats, would be reflected in the policies of an Obama administration. On the economic front, he hopes for "major changes in our trading policy."

"We cannot continue with the open-door policy," he says. "We need to protect our manufacturing industry against unfair competition that destroys American jobs and creates ill-paid jobs abroad." Would that mean an abrogation of the NAFTA treaty with Canada and Mexico? Jackson dismisses the question as "premature": "We could do a great deal without such dramatic action."

His most surprising position concerns Iraq. He passionately denounces the toppling of Saddam Hussein as "an illegal and unjust act." But he's now sure that the United States "will have to remain in Iraq for a very long time." What of Obama's promise to withdraw by 2010? Jackson believes that position will have to evolve, reflecting "realities on the ground." "We should work with our allies in Iraq to consolidate democratic institutions there," he says. "We must help the people of Iraq decide and shape their future in accordance with their own culture and faith."

On Iran, he strongly supports Obama's idea of opening a direct dialogue with the leadership in Tehran. "We've got to talk to tell them what we want and hear what they want," Jackson says. "Nothing is gained by not talking to others." Would that mean ignoring the four UN Security Council resolutions that demand an end to Iran's uranium-enrichment program? Jackson says direct talks wouldn't start without preparations. "Barack wants an aggressive and dynamic diplomacy," he says. "He also wants adequate preparatory work. We must enter the talks after the ground has been prepared," he says.

Jackson is especially critical of President Bush's approach to the Israel-Palestine conflict. "Bush was so afraid of a snafu and of upsetting Israel that he gave the whole thing a miss," Jackson says. "Barack will change that," because, as long as the Palestinians haven't seen justice, the Middle East will "remain a source of danger to us all."

"Barack is determined to repair our relations with the world of Islam and Muslims," Jackson says. "Thanks to his background and ecumenical approach, he knows how Muslims feel while remaining committed to his own faith."

| NewWorldOrder | America | Economic Crisis |

Obama's Abortion Extremism The Witherspoon Institute (October 14, 2008) - Sen. Barack Obama's views on life issues ranging from abortion to embryonic stem cell research mark him as not merely a pro-choice politician, but rather as the most extreme pro-abortion candidate to have ever run on a major party ticket.

Barack Obama is the most extreme pro-abortion candidate ever to seek the office of President of the United States. He is the most extreme pro-abortion member of the United States Senate. Indeed, he is the most extreme pro-abortion legislator ever to serve in either house of the United States Congress.

Yet there are Catholics and Evangelicals-even self-identified pro-life Catholics and Evangelicals - who aggressively promote Obama's candidacy and even declare him the preferred candidate from the pro-life point of view. What is going on here?

I have examined the arguments advanced by Obama's self-identified pro-life supporters, and they are spectacularly weak. It is nearly unfathomable to me that those advancing them can honestly believe what they are saying. But before proving my claims about Obama's abortion extremism, let me explain why I have described Obama as "pro-abortion" rather than "pro-choice."

According to the standard argument for the distinction between these labels, nobody is pro-abortion. Everybody would prefer a world without abortions. After all, what woman would deliberately get pregnant just to have an abortion? But given the world as it is, sometimes women find themselves with unplanned pregnancies at times in their lives when having a baby would present significant problems for them. So even if abortion is not medically required, it should be permitted, made as widely available as possible and, when necessary, paid for with taxpayers' money.

The defect in this argument can easily be brought into focus if we shift to the moral question that vexed an earlier generation of Americans: slavery. Many people at the time of the American founding would have preferred a world without slavery but nonetheless opposed abolition. Such people - Thomas Jefferson was one - reasoned that, given the world as it was, with slavery woven into the fabric of society just as it had often been throughout history, the economic consequences of abolition for society as a whole and for owners of plantations and other businesses that relied on slave labor would be dire. Many people who argued in this way were not monsters but honest and sincere, albeit profoundly mistaken. Some (though not Jefferson) showed their personal opposition to slavery by declining to own slaves themselves or freeing slaves whom they had purchased or inherited. They certainly didn't think anyone should be forced to own slaves. Still, they maintained that slavery should remain a legally permitted option and be given constitutional protection.

Would we describe such people, not as pro-slavery, but as "pro-choice"? Of course we would not. It wouldn't matter to us that they were "personally opposed" to slavery, or that they wished that slavery were "unnecessary," or that they wouldn't dream of forcing anyone to own slaves. We would hoot at the faux sophistication of a placard that said "Against slavery? Don't own one." We would observe that the fundamental divide is between people who believe that law and public power should permit slavery, and those who think that owning slaves is an unjust choice that should be prohibited. Read full story...

Just for the sake of argument, though, let us assume that there could be a morally meaningful distinction between being "pro-abortion" and being "pro-choice." Who would qualify for the latter description? Barack Obama certainly would not. For, unlike his running mate Joe Biden, Obama does not think that abortion is a purely private choice that public authority should refrain from getting involved in. Now, Senator Biden is hardly pro-life. He believes that the killing of the unborn should be legally permitted and relatively unencumbered. But unlike Obama, at least Biden has sometimes opposed using taxpayer dollars to fund abortion, thereby leaving Americans free to choose not to implicate themselves in it. If we stretch things to create a meaningful category called "pro-choice," then Biden might be a plausible candidate for the label; at least on occasions when he respects your choice or mine not to facilitate deliberate feticide.

The same cannot be said for Barack Obama. For starters, he supports legislation that would repeal the Hyde Amendment, which protects pro-life citizens from having to pay for abortions that are not necessary to save the life of the mother and are not the result of rape or incest. The abortion industry laments that this longstanding federal law, according to the pro-abortion group NARAL, "forces about half the women who would otherwise have abortions to carry unintended pregnancies to term and bear children against their wishes instead." In other words, a whole lot of people who are alive today would have been exterminated in utero were it not for the Hyde Amendment. Obama has promised to reverse the situation so that abortions that the industry complains are not happening (because the federal government is not subsidizing them) would happen. That is why people who profit from abortion love Obama even more than they do his running mate.

But this barely scratches the surface of Obama's extremism. He has promised that "the first thing I'd do as President is sign the Freedom of Choice Act" (known as FOCA). This proposed legislation would create a federally guaranteed "fundamental right" to abortion through all nine months of pregnancy, including, as Cardinal Justin Rigali of Philadelphia has noted in a statement condemning the proposed Act, "a right to abort a fully developed child in the final weeks for undefined 'health' reasons." In essence, FOCA would abolish virtually every existing state and federal limitation on abortion, including parental consent and notification laws for minors, state and federal funding restrictions on abortion, and conscience protections for pro-life citizens working in the health-care industry-protections against being forced to participate in the practice of abortion or else lose their jobs. The pro-abortion National Organization for Women has proclaimed with approval that FOCA would "sweep away hundreds of anti-abortion laws [and] policies."

It gets worse. Obama, unlike even many "pro-choice" legislators, opposed the ban on partial-birth abortions when he served in the Illinois legislature and condemned the Supreme Court decision that upheld legislation banning this heinous practice. He has referred to a baby conceived inadvertently by a young woman as a "punishment" that she should not endure. He has stated that women's equality requires access to abortion on demand. Appallingly, he wishes to strip federal funding from pro-life crisis pregnancy centers that provide alternatives to abortion for pregnant women in need. There is certainly nothing "pro-choice" about that.

But it gets even worse. Senator Obama, despite the urging of pro-life members of his own party, has not endorsed or offered support for the Pregnant Women Support Act, the signature bill of Democrats for Life, meant to reduce abortions by providing assistance for women facing crisis pregnancies. In fact, Obama has opposed key provisions of the Act, including providing coverage of unborn children in the State Children's Health Insurance Program (S-CHIP), and informed consent for women about the effects of abortion and the gestational age of their child. This legislation would not make a single abortion illegal. It simply seeks to make it easier for pregnant women to make the choice not to abort their babies. Here is a concrete test of whether Obama is "pro-choice" rather than pro-abortion. He flunked. Even Senator Edward Kennedy voted to include coverage of unborn children in S-CHIP. But Barack Obama stood resolutely with the most stalwart abortion advocates in opposing it.

It gets worse yet. In an act of breathtaking injustice which the Obama campaign lied about until critics produced documentary proof of what he had done, as an Illinois state senator Obama opposed legislation to protect children who are born alive, either as a result of an abortionist's unsuccessful effort to kill them in the womb, or by the deliberate delivery of the baby prior to viability. This legislation would not have banned any abortions. Indeed, it included a specific provision ensuring that it did not affect abortion laws. (This is one of the points Obama and his campaign lied about until they were caught.) The federal version of the bill passed unanimously in the United States Senate, winning the support of such ardent advocates of legal abortion as John Kerry and Barbara Boxer. But Barack Obama opposed it and worked to defeat it. For him, a child marked for abortion gets no protection-even ordinary medical or comfort care-even if she is born alive and entirely separated from her mother. So Obama has favored protecting what is literally a form of infanticide.

You may be thinking, it can't get worse than that. But it does.

For several years, Americans have been debating the use for biomedical research of embryos produced by in vitro fertilization (originally for reproductive purposes) but now left in a frozen condition in cryopreservation units. President Bush has restricted the use of federal funds for stem-cell research of the type that makes use of these embryos and destroys them in the process. I support the President's restriction, but some legislators with excellent pro-life records, including John McCain, argue that the use of federal money should be permitted where the embryos are going to be discarded or die anyway as the result of the parents' decision. Senator Obama, too, wants to lift the restriction.

But Obama would not stop there. He has co-sponsored a bill-strongly opposed by McCain-that would authorize the large-scale industrial production of human embryos for use in biomedical research in which they would be killed. In fact, the bill Obama co-sponsored would effectively require the killing of human beings in the embryonic stage that were produced by cloning. It would make it a federal crime for a woman to save an embryo by agreeing to have the tiny developing human being implanted in her womb so that he or she could be brought to term. This "clone and kill" bill would, if enacted, bring something to America that has heretofore existed only in China-the equivalent of legally mandated abortion. In an audacious act of deceit, Obama and his co-sponsors misleadingly call this an anti-cloning bill. But it is nothing of the kind. What it bans is not cloning, but allowing the embryonic children produced by cloning to survive.

Can it get still worse? Yes.

Decent people of every persuasion hold out the increasingly realistic hope of resolving the moral issue surrounding embryonic stem-cell research by developing methods to produce the exact equivalent of embryonic stem cells without using (or producing) embryos. But when a bill was introduced in the United States Senate to put a modest amount of federal money into research to develop these methods, Barack Obama was one of the few senators who opposed it. From any rational vantage point, this is unconscionable. Why would someone not wish to find a method of producing the pluripotent cells scientists want that all Americans could enthusiastically endorse? Why create and kill human embryos when there are alternatives that do not require the taking of nascent human lives? It is as if Obama is opposed to stem-cell research unless it involves killing human embryos.

This ultimate manifestation of Obama's extremism brings us back to the puzzle of his pro-life Catholic and Evangelical apologists.

They typically do not deny the facts I have reported. They could not; each one is a matter of public record. But despite Obama's injustices against the most vulnerable human beings, and despite the extraordinary support he receives from the industry that profits from killing the unborn (which should be a good indicator of where he stands), some Obama supporters insist that he is the better candidate from the pro-life point of view.

They say that his economic and social policies would so diminish the demand for abortion that the overall number would actually go down-despite the federal subsidizing of abortion and the elimination of hundreds of pro-life laws. The way to save lots of unborn babies, they say, is to vote for the pro-abortion-oops! "pro-choice"-candidate. They tell us not to worry that Obama opposes the Hyde Amendment, the Mexico City Policy (against funding abortion abroad), parental consent and notification laws, conscience protections, and the funding of alternatives to embryo-destructive research. They ask us to look past his support for Roe v. Wade, the Freedom of Choice Act, partial-birth abortion, and human cloning and embryo-killing. An Obama presidency, they insist, means less killing of the unborn.

This is delusional.

We know that the federal and state pro-life laws and policies that Obama has promised to sweep away (and that John McCain would protect) save thousands of lives every year. Studies conducted by Professor Michael New and other social scientists have removed any doubt. Often enough, the abortion lobby itself confirms the truth of what these scholars have determined. Tom McClusky has observed that Planned Parenthood's own statistics show that in each of the seven states that have FOCA-type legislation on the books, "abortion rates have increased while the national rate has decreased." In Maryland, where a bill similar to the one favored by Obama was enacted in 1991, he notes that "abortion rates have increased by 8 percent while the overall national abortion rate decreased by 9 percent." No one is really surprised. After all, the message clearly conveyed by policies such as those Obama favors is that abortion is a legitimate solution to the problem of unwanted pregnancies - so clearly legitimate that taxpayers should be forced to pay for it.

But for a moment let's suppose, against all the evidence, that Obama's proposals would reduce the number of abortions, even while subsidizing the killing with taxpayer dollars. Even so, many more unborn human beings would likely be killed under Obama than under McCain. A Congress controlled by strong Democratic majorities under Harry Reid and Nancy Pelosi would enact the bill authorizing the mass industrial production of human embryos by cloning for research in which they are killed. As president, Obama would sign it. The number of tiny humans created and killed under this legislation (assuming that an efficient human cloning technique is soon perfected) could dwarf the number of lives saved as a result of the reduced demand for abortion-even if we take a delusionally optimistic view of what that number would be.

Barack Obama and John McCain differ on many important issues about which reasonable people of goodwill, including pro-life Americans of every faith, disagree: how best to fight international terrorism, how to restore economic growth and prosperity, how to distribute the tax burden and reduce poverty, etc.

But on abortion and the industrial creation of embryos for destructive research, there is a profound difference of moral principle, not just prudence. These questions reveal the character and judgment of each man. Barack Obama is deeply committed to the belief that members of an entire class of human beings have no rights that others must respect. Across the spectrum of pro-life concerns for the unborn, he would deny these small and vulnerable members of the human family the basic protection of the laws. Over the next four to eight years, as many as five or even six U.S. Supreme Court justices could retire. Obama enthusiastically supports Roe v. Wade and would appoint judges who would protect that morally and constitutionally disastrous decision and even expand its scope. Indeed, in an interview in Glamour magazine, he made it clear that he would apply a litmus test for Supreme Court nominations: jurists who do not support Roe will not be considered for appointment by Obama. John McCain, by contrast, opposes Roe and would appoint judges likely to overturn it. This would not make abortion illegal, but it would return the issue to the forums of democratic deliberation, where pro-life Americans could engage in a fair debate to persuade fellow citizens that killing the unborn is no way to address the problems of pregnant women in need.

What kind of America do we want our beloved nation to be? Barack Obama's America is one in which being human just isn't enough to warrant care and protection. It is an America where the unborn may legitimately be killed without legal restriction, even by the grisly practice of partial-birth abortion. It is an America where a baby who survives abortion is not even entitled to comfort care as she dies on a stainless steel table or in a soiled linen bin. It is a nation in which some members of the human family are regarded as inferior and others superior in fundamental dignity and rights. In Obama's America, public policy would make a mockery of the great constitutional principle of the equal protection of the law. In perhaps the most telling comment made by any candidate in either party in this election year, Senator Obama, when asked by Rick Warren when a baby gets human rights, replied: "that question is above my pay grade." It was a profoundly disingenuous answer: For even at a state senator's pay grade, Obama presumed to answer that question with blind certainty. His unspoken answer then, as now, is chilling: human beings have no rights until infancy - and if they are unwanted survivors of attempted abortions, not even then.

In the end, the efforts of Obama's apologists to depict their man as the true pro-life candidate that Catholics and Evangelicals may and even should vote for, doesn't even amount to a nice try. Voting for the most extreme pro-abortion political candidate in American history is not the way to save unborn babies.

| NewWorldOrder | America |

Statistical dead heat Boston Herald (October 14, 2008) - Zogby International called the presidential race a “statistical dead heat,” yesterday citing a slip in the polls by Democrat Barack Obama, though major polls continued to show more significant leads over Republican John McCain. Zogby recorded 47.9 percent support for Obama among likely voters, and 43.6 percent for McCain, a 4.3-point spread.

“In this latest report, McCain gained eight-tenths of a point, while Obama lost one full point,” Zogby reported. “While the worldwide economic system underwent dramatic turmoil last week, the poll shows the presidential race remarkably unchanged overall at the end of the first full week of daily tracking. Through the week, Obama has always held a small lead, as large as 6.1 points (on Saturday) and as little as 1.9 points (last Wednesday).”

Meanwhile, Gallup polling, which has given double-digit leads among all registered voters for the past week, tightened into single digits over the weekend. Sunday, for the first time in a week, Gallup recorded a 7-point lead, with 50 percent of registered voters preferring Obama to 43 percent for McCain. Polling of likely voters has been even tighter, with Obama’s lead shrinking to 4 points. Obama’s lead in the latest Gallup three-day average among registered voters remained in double digits at 10 points, while his lead among likely voters was 7 points.
| America |

Glenn Beck: What happened? Glenn Beck (October 7, 2008) - Yes, another email letter from your crazy brother. You raised a lot of questions in your last email and I am going to try to answer all of them. I think all of your questions fall into three areas: (1) how did we get here; (2) what's coming; and (3) what can I do to prepare myself and my family.

Consider this email as my answer to your first question, "how did we get here?". I'll be sending you 2 more emails answering your other two questions. Since there's a lot of misinformation out there I will document each of the facts in my emails so you know where I pulled the information from and where you can go to read and learn more.

What you shouldn't do is panic. We'll get through this--don't pull all of your money out of the bank but have enough cash on-hand to meet any possible emergencies.

First, you've got to get the stock market's ups-and-downs out of your mind. The recent drops and upticks are short-term. Our economic problems are much bigger and deeper. Too many people believe that if the stock market goes up our problems are behind us and that's simply not true.

Last week the market had big drops and big upswings. In the end, the market ended down more than 800 points and lots of 'experts' were shouting it was a time to buy. I don't see it that way.

Did you know that just two days after the stock market crashed in October 1929 the market actually gained ground the next two days? The New York Times reported that "the market quickly regained its poise and stability...." Today, Wall Street 'pros' are telling us it's a good time to invest because Warren Buffet is investing. A lot of people were probably using the same argument when the Rockefeller family was buying stocks right after the 1929 crash, what they didn't know was that it would take Wall Street ten more years to see those prices again.

Our current economic crisis was caused by politicians, both Democrats and Republicans, who perverted the American Dream by treating home ownership as an undeniable right rather than what it really is, a privilege. President Bush aggressively promoted the benefits of home ownership through various policy positions, including a reckless zero down-payment initiative for some homebuyers and praised Fannie Mae and Freddie Mac even after concerns about their accounting standards began to surface. Read full letter...

Home ownership has always been part of the American Dream. It allows individuals and families to build wealth by having them pay themselves instead of a landlord or rental company and vests people in their communities by grounding them in local schools, stores and government.

The concept that owning a home was a privilege and not a right began to change in 1992 following a flawed Boston Federal Reserve Board study which allegedly found subtle discrimination in loan and mortgage lending by banks and mortgage lenders.

Politicians didn't care that the study was full of errors. The study found discrimination took place when five minority applicants were rejected for special low-income loans even though the applicants were rejected because they made too much money to qualify for a low-income loan, not because of their race. The report also classified as 'rejected' the applications of eight minority borrowers even though these borrowers voluntarily withdrew their mortgage applications. The study's sloppiness also went the other way.

The study reported that a white applicant was approved for a $3,115,000 loan in order to purchase a home valued at $445,000. It was later demonstrated that the actual loan was approved for $311,500, far less than $3 million reported and more importantly, less than the home's purchase price. When these and other errors were corrected no evidence of discrimination existed.

But politicians didn't care. They used this report as the basis to fix a problem which didn't exist. Leading the charge for change was President Clinton who immediately set-out to rework the Community Reinvestment Act to give federal officials the power to pressure banks to make loans they otherwise considered too risky or uneconomical.

Traditional lending requirements were labeled 'outdated' and discriminatory. What 'traditional lending requirements' were viewed as 'outdated' and 'discriminatory'? (1) banks were told that a "lack of credit history should not be seen as a negative factor" and that "past credit problems" should be viewed and considered in light of any "extenuating circumstances" so loans could be extended when they otherwise would have been denied; (2) banks were encouraged to let borrowers without enough money for a down-payment make-up any deficiency with "gifts, grants, or loans from relatives, nonprofit organizations, or municipal agencies" even though banks considered this risky as the home buyer would have little or no equity in the house; (3) banks were also instructed that borrowers who received child support, welfare payments or unemployment benefits could count that as 'income' for borrowing purposes.

Call me crazy but if you need to count child support money that's intended for your child, or are in such bad economic shape that you're relying on welfare payments to make ends meet or are unemployed, maybe, just maybe, you shouldn't be buying a house. Too bad our politicians and the 'best and brightest' on Wall Street couldn't figure that out!

Community groups like ACORN, threatened to cry racism if banks didn't increase their loans to subprime borrowers. Banks typically avoided subprime loans as they carried a greater risk of default, but with law on its side, ACORN and other groups intimidated lending institutions into making such loans.

Banks soon learned, however, that making subprime loans actually could increase their profits without increasing their risk. Once the banks extended a loan to a subprime borrower that loan could then be sold by the bank to Fannie Mae or Freddie Mac, two government sponsored entities charged with making home ownership affordable to all Americans.

Banks, Wall Street, and mortgage lenders were soon eager to extend mortgages to subprime borrowers because they could make lots of money without carrying any risk. Fannie and Freddie carried all the risk once the original lending agency sold the loan to them. And once Fannie and Freddie bought the loan this freed up the banks to make even more subprime loans.

So everyone was a winner. The subprime borrower got the money to buy a house. The banks generated mortgages and made a nice profit and Fannie and Freddie executives made tens-of-millions of dollars in salaries and bonuses by hitting their annual goals.

The problem was that in order to keep all of this going lending standards were continually lowered to help the next level of subprime borrowers qualify for mortgages and no one had an incentive to make sure that the new subprime borrowers would actually be capable of making regular mortgage payments. The banks which extended the loans really didn't care because they were just going to sell the loan off to Fannie or Freddie. Fannie and Freddie weren't too concerned because it wasn't their money-they knew that they were insured by the 'full faith and credit' of the federal government (that's government lingo for "you and me").

So when federal regulators began to warn the executives at Fannie and Freddie about the increasing risks of non-payment by subprime borrowers the companies did nothing and when the regulators took their concerns to congress their warnings were met with scorn and contempt. The politicians who received the most political contributions from Fannie and Freddie, by pure coincidence, just happened to be their biggest defenders: Chris Dodd (D-$133,900), John Kerry (D-$111,000) and Barack Obama (D-$105,189).

Representative Barney Frank, who has been a fierce defender of Fannie and Freddie, actually said, while arguing against more regulation, "I want to roll the dice a little bit more in this situation towards subsidized housing.... " It's nice to know that he doesn't mind gambling with our money. Senator Chris Dodd, in praising Fannie and Freddie said, "I, just briefly will say, Mr. Chairman, obviously, like most of us here, this is one of the great success stories of all time. "While Senator Charles Schumer said, "And my worry is that we're using the recent safety and soundness concerns, particularly with Freddie, and with a poor regulator, as a straw man to curtail Fannie and Freddie's mission."

Barack Obama has received more money from Fannie and Freddie than any other senator, with the exception of Senator Dodd, in the last four years. Before entering the senate, Obama filed a class-action lawsuit against Citibank, alleging that the bank was red-lining, or not doing enough lending in certain areas. That lawsuit was eventually settled. Arguably, Barack Obama helped cause the problem he now wants to fix.

The Federal Reserve Board was doing its part by throwing huge piles of cash at would-be home buyers by keeping interest rates too low. With low interest rates speculators began to look at houses as business opportunities, while others began to look at their homes as a giant piggy bank rather than a place where you actually lived and raised a family. Alan Greenspan encouraged this type of behavior and proudly said, "American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgages..." President Bush, responding to September 11th unwisely encouraged us to "go shopping" rather than hunker down financially and contribute to the War on Terror in other ways (can you say home equity loans?).

The SEC also shares in the blame. It failed to do its job (failed to adequately regulate mortgage brokers, the credit rating companies, and naked short-sellers), acted only after the markets froze-up (finally addressed mark-to-market rules) and refused to examine how the credit-default-swap market could grow from $919 billion in 2001 to over $54 trillion by 2008 (which allowed companies to make wild financial bets with the false confidence that 'insurance' would be there if the deal went south).

So what happened? Home-ownership rates which had been relatively constant for 25 years began a 10 year upward climb beginning in 1995, around the same time that government began its push and pressure for banks to make more subprime loans. The politicians, banks, lenders and Wall Streeters were thrilled because they were all making gobs of money.

Today we are all paying the price for the decisions made long ago. I have spoken to people involved at the highest levels and they now are all saying the same thing, "it is worse than anyone knows" and "worse than I even thought." Political and business leaders who I respect have told me that the economy is on the edge of an abyss.

The bailout is an outrage and is designed only to buy time for the politicians. It will delay the real hard times from hitting until after the November elections. Not one politician has said that this bailout legislation will put us on a better financial footing or that our economic problems will be put behind us. In fact, we'll be worse off because our politicians, even in this crisis, can't stop themselves from spending. This bill includes an extension of the rum tax benefits for Puerto Rico and the US Virgin Islands ($192 million), tax benefits for companies which manufacture wooden arrows for kids ($6 million), car racing tracks ($128 million), a provision which forces insurance companies to treat mental health problems like physical problems ($3.8 billion) and many, many more.

International markets don't offer any better alternative. Germany, England, the Netherlands, and Russia have all come out with their own government backed bailout plans. There are now calls for more international regulation (presumably led by the United Nations) and China has taken this opportunity to call for "a diversified currency and financial system and fair and just financial order that is not dependent on the United States." Meanwhile, there is increasing international indications that the dollar will lose its place as the reserve currency of the world.

The politicians from both political parties continue to lie to us. They promise us better healthcare and more government programs. The only thing either party will be able to deliver is higher, much higher, taxes as the debt swells and government revenues fall. The same politicians remain silent, while capitalism, which brought us the highest standard of living in the world, is increasingly attacked and discredited by its enemies.

But it's not capitalism which has been discredited by our current crisis, it's greed that has been shown to be at the root of our present economic uncertainty, and greed is unfortunately a universal human trait and has demonstrated its reach in socialism, fascism, communism and capitalism. The greed of Wall Street is nothing compared to the greed of our politicians who have continued to expand their power and influence at the expense of their country.

Our children and grandchildren will ultimately pay the price for their failure to act prudently and in the best interest of our country because they will be the ones saddled with mountains of debt and diminished standard of living.

I hope that this summary gives you a better idea of how the people who caused this fire are the same ones who are now telling us that they know best how to put it out and a reason not to believe their current promises.

We have faced tough times before. We fought the Nazis in World War II, defeated communism in the Cold War and Americans fought each other to keep our country together in our own Civil War. These tough times require us to educate ourselves and help others understand what has brought us to this point and the grave consequences of what will happen if we let this continue-that is our fight.

In my next email letter I will answer the other question you asked, "what's coming?"

Sis, I know you will always consider me your crazy brother but please pass this message on to all of your friends.  There are too many rumors circulating and I want to put the facts out there. This isn't about slamming the Democrats or Republicans--this is about getting the truth out to as many people as possible.  The more people we can wake-up the more people we will have restoring the hope, promise and opportunity of our great country.  Please pass this on.  Glenn

| Islam | EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

You can also listen to the October 8 show.

U.S. confirms bank buy-ins Chicago Tribune (October 11, 2008) - The government will buy an ownership stake in a broad array of American banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said late Friday. "This is a period like none of us has ever seen before," Paulson declared. He said the government program to purchase stock in private U.S. financial firms will be open to a broad array of institutions, including banks, in an effort to help them raise desperately needed money.

The administration received the authority to take such direct action in the $700 billion economic rescue bill that Congress passed and President George W. Bush signed last week. Paulson announced the administration's new effort to prop up banks at the conclusion of discussions among finance officials of the Group of Seven major industrialized countries. That group endorsed the outlines of a sweeping program to combat the worst global credit crisis in decades.

Paulson said the U.S. program would be designed to complement banks' own efforts to raise fresh capital from private sources. The government's stock purchases will be of non-voting shares so it will not have power to run the companies. Few details of the plan were available.

The purchase of stakes in companies would be in addition to the main thrust of the $700 billion rescue effort, which is to purchase distressed assets from financial institutions as a way of unthawing frozen credit, getting banks to resume normal lending operations and staving off severe problems for businesses and everyday Americans alike. It would mark the first time the government has taken equity ownership in banks in this manner since a similar program was employed during the Depression.

The Treasury, under the equity purchase program, would not be involved in bank management, Paulson said. "Such a program would be designed to encourage the raising of new private capital to complement public capital," he said.
| NewWorldOrder | America | Economic Crisis |

China stiffing America for $100 billion in debt WorldNet Daily (October 11, 2008) - While Chinese companies are in line to benefit directly from U.S. taxpayers' $700 billion-plus bailout of Wall Street, Fannie Mae, Freddie Mac and other financial institutions, Beijing is stiffing the U.S. for $100 billion or more in unpaid debt.

The status of the Chinese economy, including its repudiated debt, has prompted one analyst to warn of an "ominous threat" involving China's finances and suggest the possibility of "a dramatic reversal" for the "so-called Chinese Miracle." "One of the greatest problems facing China is the government's failure to acknowledge and effectively address the true extent of state institutions' bad debt," Kevin O'Brien writes in an article titled, "Reassessing China's Sovereign Risk: Emerging Global and Domestic Trends Threaten the 'Chinese Miracle."

O'Brien's report was published at a website for the Global Association of Risk Professionals, a not-for-profit independent trade association of risk management practitioners around the world. It has 77,000 members from fields such as banking, investment management and academics. One problem that should be addressed, he writes, is the $260 billion in sovereign debt owed U.S. and other investors which China has said it simply won't repay. "The repayment obligation was inherited by the People's Republic of China, when the communists took control in 1949. The successor government doctrine of settled international law affirms continuity of obligations among international recognized successive governments," O'Brien said.

"The PRC is the internationally recognized successor government … which contracted the credit sovereign debt … and which had a loan agreement that states that such debt is intended to be 'a binding engagement upon the Republic of China and its successors.'" The bonds, however, were excluded from a 1979 settlement of Chinese debts and in 1987, China even "concluded a discriminatory settlement accord with bondholders in Great Britain – an agreement that excluded from settlement any bonds held by non-UK citizens."

Then in 2006, the Chinese Ministry of Finance issued an official communiqué addressed to "the Embassy of the United States of America in China," in which the Chinese government formally repudiated China's defaulted full faith and credit sovereign debt and announced that it would not repay any debt held by American citizens, O'Brien said. The repudiation still stands, even though the China Economic Review confirmed that major Chinese banks own $8 billion in Fannie Mae and Freddie Mac securities that are the targets of bailout provisions.

"Bank of China said last month it owned $7.5 billion in Fannie and Freddie bonds," the report continued. "The bank also held $5.2 billion in mortgage-backed securities guaranteed by the two agencies." Those owners will be among the beneficiaries of the overall bailout plan assembled by the government and funded by taxpayers to "rescue" bad debt created by an agenda of loaning money to "subprime" recipients who may not have had the wherewithal to repay the loans. Recipients of the U.S. taxpayers' generosity also may include various private Chinese interests with investments in American real estate and mortgage. Read full story...

Iceland turns to Russia for bailout RIA Novosti (October 10, 2008) - Russia has agreed to bail out Iceland by granting this small island state a huge stabilization loan at an unbelievably low interest rate. Is it an act of wanton generosity, or a far-sighted geopolitical step? And in general, four billion euros, is it a lot or a little? The fate of Iceland has until recently not concerned Russia one bit. Now only a lazy person is not discussing the incredible sum the "island of stability" is going to inject into the economy of a sinking island of geysers.

Europe has meanwhile been discussing Iceland for a long time. Hedge-fund country, an example of liberal economic regulation and a model of a rapidly developing economy, Iceland was the first in the world to feel the impact of a full-bodied economic crisis. This happened at the end of 2007. Since this year began, Iceland's currency - the krona - has lost one-third of its value against the euro. Iceland's leading banks - Kaupthing, Glitnir and Landsbanki - have been marauded by international financial sharks. At the end of September, the country's authorities bought out (read, nationalized) Glitnir bank, and on October 7 Landsbanki, while on the same day Kaupthing bank received a 500 million euro loan from Iceland's National Bank. By the autumn of 2008 it had become clear Iceland might become the world's first country to suffer a default.

Why is the bubble of Iceland's economy bursting so loudly? It ballooned too rapidly, the IMF believes. In 2003-2007, the country's GDP had risen by 25%, with this robust growth fed mainly by outside borrowing. To attract foreign investments, the authorities strengthened the currency and ratcheted up interest rates (by the beginning of 2008, they were the highest in Europe - 15.5% per annum). The result was a monstrous misbalance: a modest GDP, on the one hand, and immense financial assets and tremendous liabilities, on the other. According to 2007 figures, Iceland's GDP was $16 billion, while its financial assets stood at 1,000% of GDP and an external debt of 550% of GDP.

With Iceland teetering on the brink of default, Russia's stabilization loan of four billion euros is a lifebelt, and a very sizeable one (on the evening of October 7, Finance Minister Alexei Kudrin acknowledged Russia's readiness to pay, although previously he had denied such claims by Iceland's National Bank). Judge for yourself: when, in May 2008, Iceland was drowning, the central banks of three Scandinavian countries - Sweden, Denmark and Norway - set up a special $2.3 billion rescue fund for Iceland. Now Russia alone is ready to fork over two and a half times as much for the same purpose. In other words, four billion euros by Iceland's standards is substantial.

In Russian eyes, it is a vast sum, too. And one pledged at a very fair rate. To judge from a release issued by Iceland's National Bank, Russia promised it at LIBOR+(0.3-0.5)%. This compares with LIBOR+1% at which the Russian Central Bank wants to offer loans to Russia's Vnesheconombank. At a time when Russian authorities hold crisis emergency meetings almost daily, this looks strange, to say the least. The man in the street would say this is no time for liberal loans when one's own existence is at stake. This man's response would not be quite right, in my opinion. Read full story...

There are several reasons why Russia should agree to issue the loan to Iceland. The first and overwhelming one is geo-economic.  Leaders in many countries are gradually beginning to understand that a world caught in the maelstrom of a financial crisis could be saved only by cooperative efforts. This was a theme running through a three-day world policy conference in Evian; it will certainly be taken up at an annual meeting of the International Monetary Fund and World Bank.

WB chief Robert Zoellick only recently proposed that the G8 also include BRIC countries (Brazil, Russia, India and China), Mexico, Saudi Arabia and South Africa. World leaders more and more often speak of the need to shelve personal ambitions, put away political squabbles and do something.

To come to the aid of Iceland at such a time has been for Russia a decision prompted by stark necessity. Russia has a rich war chest of windfall oil money. By the end of September, its Central Bank had $566 billion in international reserves, and $32-plus billion in the National Welfare Fund and the Reserve Fund. Of course, Russia could sit it out on its "island of stability" and fight the crisis within its four walls. But in this case Russia risks suddenly discovering that the global financial storm whipped up even further by Iceland's hurricane has wiped out all its stockpiled reserves.

Most of Iceland's lenders are European banks. Should Iceland declare a default, the whole of Europe would go into a spin, and would drag Russia after it, which now has a chance to scrape its way out of the crisis the cheap way. It emerges that by saving Iceland, Russia is saving itself first.

Other considerations are less global and more pragmatic. Crises come and go, but allies (sometimes) remain. Iceland, a rapidly developing economy and a happy hunting ground for businessmen from many European countries, is certain to remember this gesture and take more kindly to Russian investments in the future. So far, Russia-Iceland trade has been $100 million per year. And it was only shortly before the crisis that Russian business (represented by Roman Abramovich and Oleg Deripaska) began exploring the country's investment possibilities. Now the price for entering Iceland's economy could prove very low. Besides, it makes a good staging post for flights to Latin America.

| Iran | Gog/Magog | EU/UN / 4th Kingdom | America | Economic Crisis |

Proverbs 22:7
The rich ruleth over the poor, and the borrower is servant to the lender.

This principle is how I believe the world will be forced into a global fix for the economic failures by those who are the lenders. Perhaps the servants will be offered a clean slate in exchange for participation in the new system. I wouldn't be surprised because ultimately the spirit behind this is not worried about making money, but pulling souls away from their Creator and according to scripture, those who accept the terms of the new cashless system that relies on a mark make not only an immediate decision, but one that affects their eternity.

Revelation 14:9-11
And the third angel followed them, saying with a loud voice, If any man worship the beast and his image, and receive his mark in his forehead, or in his hand, the same shall drink of the wine of the wrath of God, which is poured out without mixture into the cup of his indignation; and he shall be tormented with fire and brimstone in the presence of the holy angels, and in the presence of the Lamb: and the smoke of their torment ascendeth up for ever and ever: and they have no rest day nor night, who worship the beast and his image, and whosoever receiveth the mark of his name.

It seems to me the house of cards is falling and everything that they try to do in order to prop it back up fails to do anything to stop it. How close are we to being indentured servants as a nation who will be offered a new financial system as a way out? I don't know for sure, but there are already globalization talks going on for the financial system: Foreign economists urge 'global plan'

Proof Obama backed ruthless, foreign thug WorldNet Daily (October 10, 2008) - Sen. Barack Obama designated a personal aide as his direct contact for the 2007 Kenyan presidential campaign of Raila Odinga, who later was appointed prime minister after his election loss was followed by widespread, deadly violence that destroyed or damaged 800 Christian churches, according to e-mails obtained by WND senior staff writer Jerry Corsi during a trip to Kenya.

Corsi attempted to release this and other information at a Tuesday press conference in Nairobi. The WND reporter and No. 1 New York Times bestselling author was detained by Kenya security officers as soon as he entered the hotel to make his presentation. He was held incommunicado and without food for the entire day before being permitted to board his regularly scheduled flight out of the country to London, where he is currently recuperating from the ordeal.

As WND has reported, Obama openly campaigned for Odinga during the Illinois Democrat's 2006 Senate "fact-finding visit" to Kenya. Odinga called for protests over alleged voter fraud after losing the December 2007 general election. The resulting protest violence left an estimated 1,000 members of the dominant Kikuyu tribe in Kenya dead and an estimated 500,000 displaced from their homes. Read full story...

| America |

To be clear, I don't have much hope in the other option on the table as both are following suit toward global government.

Berlusconi says leaders may close world’s markets Bloomberg (October 10, 2008) - Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance." "The idea of suspending the markets for the time it takes to rewrite the rules is being discussed," Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis "can't just be for one country, or even just for Europe, but global." The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.

Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis "in coming days," he said.

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are "talking about a new Bretton Woods." The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Potential Economic Seizure Dead Ahead The Market Ticker (October 9, 2008) - Ok folks, this is serious stuff.

This is now a national emergency. Seven trillion dollars of wealth has been vaporized in US Stocks in the last seven days alone, with five of it since the passage of that ill-designed and foolhardy "bailout" bill. The selloff this afternoon is the "real deal."  It was not caused by the stock market getting "mad", it was caused by the short-term credit market along with the Treasury market suddenly dislocating at a few minutes before the bond pit closed at 2:00 PM.

Worse is also the fact that institutional lending has essentially disappeared - both between banks and now it is choking off commercial short-term credit across the board. It doesn't get any more serious than this.  To repeat: short-term commercial credit is threatening to completely disappear from the American scene. Every action our government has taken thus far, including repealing mark-to-market requirements have made the situation worse by further destroying confidence.

In the overnight market the futures are imploding once again; the Osaka exchange was closed in Japan after hitting its "lock limit" within minutes prior to the Nikkei opening; the Nikkei is now down ANOTHER 10%, for a total loss of nearly 20% in just two days, with Japanese banks trading "offer only" - that is, NO BID.  There are rumors of government bond market fails in parts of Europe, and Iceland has essentially been cut off from the rest of the world Interbank marketplace. 

Japanese banks are now firewalling themselves from European and US claims; the interbank market is about to explode.  Iceland has effectively defaulted on sovereign debt and today there was a rumor that Hungary had a failed bond auction, effectively defaulting as well. 

Key: Sovereign debt (that is, Treasuries from various nations) has become infected with trash - unfortunately including ours now that Fannie and Freddie were nationalized and TARP has been passed - and may fail in a cascade-style fashion across the world.  If this occurs our ability to fund our government will be cut off as well, leading to a need to reduce government spending by $800 billion a year immediately.  This means huge and immediate cuts to Social Security, Medicare and Military budgets - by as much as half.

Over a year ago I warned in my writings that this could happen if we did not take action.  If we did not force accountability through Congress and onto our financial system.  If we did not force the thieves, liars and thugs on Wall Street to take their medicine. Instead of taking action we have sat on our collective asses and allowed Congress to pass bailout after bailout - now our stock market is down close to 40% from the top with 20% of that loss coming in just over one week! We are facing a global DEPRESSION and the cut-off of essential goods and services in this nation if we do not stop this lunacy immediately.

Please understand - the TRUCKER who has a  full load of food headed for your grocer REQUIRES commercial credit in order to fill his truck with diesel. The local GAS STATION owner REQUIRES commercial credit to fill his underground storage tank. The local CAR DEALER REQUIRES commercial credit to have cars - and parts - in his dealership.  No credit, no car - and no car repairs. The manufacturer over in China REQUIRES commercial credit (letters of credit from the buyer's bank) to be able to ship those goods to America, where you can buy them.  If the bank over there won't take the LOC from the bank over here, suddenly you have no tires, DVDs and other similar products to buy.

IF THESE MARKETS DO NOT IMMEDIATELY UNFREEZE THE CONSEQUENCE WILL BE THAT FOOD AND FUEL, ALONG WITH ALL OTHER MANNER OF CONSUMER PRODUCTS, MAY NOT FLOW TO YOUR GROCERY STORE AND GAS STATION. Read full story...

Think about that very carefully and then consider whether YOU can afford to sit on your ass for one more second, or whether you have an absolute NEED to get on the phone, fax, and whatever else RIGHT NOW to your elected and appointed representatives and, if you do not get in response that they will IMMEDIATELY resolve this matter whether you will vow to band together with every one of your associates and friends, form a group consisting of everyone in your local city or town, and call a GENERAL STRIKE, refusing to both work and permit commerce to be conducted UNTIL THE LIARS ARE FORCED INTO THE OPEN, DEALT WITH, AND THE SYSTEM IS ABLE TO CLEAR.

We are quite literally out of time.  This freeze in the markets WILL continue around the globe unless something is done NOW.  Every "intervention" and "promise" made by our government thus far - all of them - have been LIES.  Our government has done NOTHING to alleviate the problem and in fact every one of their "solutions" have made the situation worse - going back for more than a year. We have "pumped liquidity" and even bailed out firms with taxpayer money, and yet the markets have not unfrozen. 

They remain frozen because the root cause of the problem is that banks and other financial firms have been lying for more than a year, each quarter claiming to have "kitchen sinked" their losses only to report more the next quarter, and in some cases have gone on national TV to proclaim they're "well-capitalized" only days or weeks before they collapse!

The first question anyone asks when someone wishes to borrow money is whether or not they will get paid back.  If the lender does not believe they will be able to be paid back then that loan will not be made, no matter how much money someone has available to them. It really is that simple folks and yet this fundamental principle has been willfully and intentionally ignored for more than a year.

YOU MUST CHOOSE RIGHT NOW, TONIGHT, AS AN AMERICAN WHETHER YOU ARE GOING TO GO TO WORK TOMORROW AND PRETEND THAT NOTHING IS WRONG, OR WHETHER YOU ARE GOING TO ENGAGE IN PEACEFUL BUT FORCEFUL PROTEST IN DEMANDING THAT THIS CRISIS BE ADDRESSED NOT WITH "MORE OF THE SAME" BUT BY ARRESTING EACH AND EVERY ONE OF THE CROOKS, BY FORCING BALANCE SHEET TRANSPARENCY FOR EACH AND EVERY FIRM IN THE UNITED STATES, AND BY THEN FORCIBLY RECAPITALIZING VIA DEBT-TO-EQUITY "CRAMDOWNS" EACH AND EVERY INSOLVENT BANK AND OTHER FINANCIAL INSTITUTION, WITH TREASURY STEPPING IN WITH TAXPAYER MONEY ONLY AFTER THE TRUTH (OR FALSEHOOD) OF SOLVENCY IS ESTABLISHED IN PUBLIC WHERE WE CAN ALL SEE IT.

THIS IS NO LONGER JUST ABOUT YOUR RETIREMENT SAVINGS AND HOUSE (although that's important) IT NOW IS, QUITE LITERALLY, ABOUT THE ABILITY OF ORDINARY COMMERCE TO CONTINUE AND ESSENTIAL GOODS AND SERVICES - FOOD AND FUEL AMONG THEM - TO REACH OUR MARKETS. YOU LITERALLY MUST CHOOSE NOW, AS THE TIME TO DAWDLE AND THINK ABOUT IT HAS EXPIRED.

Update 7:30 AM CT 10/10 - Overnight LIBOR has come in dramatically, but 3 month dollar LIBOR has not - in fact, it went higher.  This tells you that while people do not believe the market is due to implode tomorrow - an improvement over yesterday - they also don't believe that anything will be fixed in the next few months.  Thus, as of this time, the nightmare scenario remains on the table.

8:00 AM - Trading desks (from the forum and a quick check) are reporting agencies being dumped by Chinese holders.  Don't be too quick to call this "screw those evil Americans" - this smells like have to sell as opposed to want to sell.  LOC seizures mean goods aren't moving which means you have to sell what you can, irrespective of price.  Ditto for the price dislocation in the Treasury market.  Say goodnight to what's left of the housing market - as I expected would happen - its done.

9:53 - Again, for the second day, no OMO (Open Market Operations) at The Fed. Read this report carefully.  Note that there are no Agencies and no Treasuries left on The Fed's balance sheet.  All gone.  All that is left is $80 billion of crappy MBS.  Bluntly, without printing raw money, The Fed is out of Treasuries with which to lend into the market, and thus cannot perform OMO any more; they must do "other things" (like print money.)  We are now officially into the twilight zone and Fed Solvency is an issue on the table.  President Bush spoke again but none one word about forcing transparency among financial institutions.  Raise cash now and be prepared for potential essential good and service disruptions as the supply pipelines could begin to go dry on these as soon as early next week.

| America | Economic Crisis |

New World Order: Global co-operation, nationalisation and state intervention - all in one day The Scotsman (October 9, 2008) - IT WAS a day of desperate global action, unprecedented in both scale and cost, intended to stymie the international devastation being wrought by the financial crisis. As the London stock market steeled itself to open again following days of vicious battering, Alistair Darling, the Chancellor, rose to stake the future of the country and the Cabinet on an audacious £500 billion banking bail-out.

And barely had the City begun to digest the hugely complex and unorthodox scheme when it was sent reeling again by an unscheduled interest rate cut – mirrored across the world – by the Monetary Policy Committee. It was the first such co-ordinated approach since the 9/11 terrorist attacks in 2001 – yet another indicator, had one been needed, of the gravity of the situation. The half percentage point drop was immediately passed on to millions of borrowers, with leading high-street banks cutting their mortgages.

The government's scheme, a three-part plan which takes in short, medium and long-term measures, was welcomed by business leaders and analysts. David Kern, adviser to the British Chamber of Commerce, said: "The government has taken a radical step, but it is one we welcome."

But there was concern a phenomenal amount of taxpayers' cash was being staked on a last-ditch measure that could fail. The Taxpayers' Alliance accused ministers of failing to address other options first. Meanwhile, the International Monetary Fund (IMF) issued a fresh warning that Britain was on the brink of recession. In its latest World Economic Outlook, it predicted the UK economy would contract by 0.1 per cent next year as growth across the developed countries slowed to almost zero.

The downturn will mean lost jobs, with unemployment forecast to rise from 5.4 per cent to 6 per cent, while public finances were said to be "considerably weaker" than in previous slowdowns. However, the IMF said it was expecting Britain to bounce back strongly in 2010.

The £500 billion plan includes the government taking shares of up to £50 billion in leading banks, increasing funds available to banks to £200 billion, and guaranteeing their debts when they lend to one another. The guarantees are likely to cost up to £250 billion. The Prime Minister called the plans "bold and far-reaching", but admitted they would offer no quick fix. Read full story...

Eight UK banks and building societies – including Royal Bank of Scotland, Halifax Bank of Scotland, Barclays, Lloyds TSB and Nationwide – have pledged to increase their capital by £25 billion but the government will pump in the funds if called upon. The Treasury also stands ready to make at least another £25 billion available, if necessary. The Bank of England – alongside its interest rate cut – is taking emergency action to help ensure banks have enough cash to run their day-to-day activities. It has increased to £200 billion the size of its special liquidity scheme that lets banks swap risky assets for Treasury bonds.

The government is also making the further £250 billion available for banks to guarantee debt, but a fee will be charged. Mr Brown moved to reassure taxpayers they would have the potential to "earn a proper return" from their investment. There would be "strings attached and conditions to be met" to protect taxpayer interests.

One key concern is whether there will be controls over the bonuses of the "fat cat" bank bosses. Gordon Brown, the Prime Minister, said such issues would be dealt with case by case. Remuneration should be "based on responsibility, hard work, effort and enterprise", he said. It had been claimed that RBS bosses, chief executive Sir Fred Goodwin and chairman Sir Tom McKillop, had offered to leave under a boardroom clear-out agreed with the government, but this was denied by the bank.

The announcement provided an initial boost to the FTSE 100 index of leading shares, and in particular to banking stocks, but this fell away later in the day. The FTSE closed at a loss of 5 per cent – its lowest close since 2004 – while banks failed to hold on to the huge gains of up to 60 per cent made earlier in the day.

When Mr Brown stood to address the House of Commons on the package, which could well determine how his premiership is judged, he was able to announce the interest rate cut. Central banks across Europe, the US, Canada and China also reduced interest rates in an emergency move. The banks hope to encourage nervous consumers and businesses to spend more freely again after widespread housing, credit and financial problems. The cut – which was immediately passed on to more than five million homeowners – was cautiously welcomed by analysts and business leaders.

Miles Templeman, director-general of the Institute of Directors, said: "Before today's announcement, the financial system was in the deep freeze. After today, it might be in the fridge, but there is no guarantee. Nobody should be under any illusion that the financial system is now fixed. Our concern now is for the real economy and how much it will slow. "There remains a real risk that the economic downturn under way will further undermine bank capital due to rising repossessions and bad debt."

Howard Archer, an economist, of Global Insight, said: "It's not the magic pill. We have a lot of difficult times ahead. But the first stage is stopping things getting worse, and the hope is this will help to stabilise the economy." Martin Weale, director of the National Institute of Economic and Social Research, said that, for the UK, it was important that the move came alongside the £500 billion package. He said: "The international banks concluded there is a major international banking crisis. Banks were collapsing in Europe, as well as the United States. I think they rather optimistically concluded a rate cut of this type can restore confidence." Rate cuts were "a valuable piece on the side", but he added: "The key issue is for affected countries to do what Britain has done and show governments are prepared to inject equity capital into banks that look as though they need it. "We will only be confident the worst is over when the US adopts a scheme like Britain."

And Louise Cuming, the head of mortgages at moneysupermarket.com, warned: "This is not a magic cure-all, and we won't see either the mortgage or the housing market bouncing back to where it was 18 months ago." Following the announcements, Mr Brown spoke by phone to the French president, Nicolas Sarkozy, the German chancellor, Angela Merkel, and the Italian prime minister, Silvio Berlusconi, as well as the EC president, José Manuel Barroso. The government is expected to hold up its plan as a potential model for the rest of Europe. The EU – which is concerned about competition implications of a scheme by Ireland to safeguard its deposits – later said it saw no problem with Britain's move.

| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Is the Federal Reserve Engaged in Acts of Economic Warfare Against America? Natural News (October 8, 2008) - In 1942, German intelligence officers rounded up skilled Jewish prisoners and launched Operation Bernhardt, a clever scheme designed to counterfeit hundreds of millions of dollars worth of British Pounds and destroy the British economy by flooding it with counterfeit money. Located in the Sachsenhausen concentration camp, Operation Bernhardt was, even by modern standards, a runaway success that resulted in the creation of forged bank notes worth 132 million British Pounds. This "economic warfare" operation resulted in a devastating economic effect on the British economy. You can read the true history of this operation here.

It is important to note that Operation Bernhardt was an act of war, specifically pursued for the purpose of destroying Britain's economy by creating so much new money that the value of the money already in circulation would plummet. This was considered a strategic attack, just as effective as carpet-bombing tank factories or mowing down soldiers on the field with German-made MG42 machine guns.

What does all this have to do with the Federal Reserve?

Today, the Federal Reserve is engaged in an eerily similar operation, counterfeiting trillions of dollars in U.S. bank notes and flooding the U.S. money supply with money created from nothing. The result, of course, is the same as was intended by Operation Bernhardt in 1942: The economic destruction of the target nation. Only this time, the target is the United States of America.

Hilariously, the Fed claims it's doing this to save the economy. Yet the laws of economics tell us that flooding the money supply with trillions of dollars in new money actually harms the economy. And the Fed has been hard at work causing this harm: $250+ billion two weeks ago, $600+ billion last week and $900 billion earlier this week! It's beginning to crank up the printing presses to the tune of a trillion dollars a week, and by doing so, it's contributing to the destruction of the U.S. economy at a pace the Third Reich could have barely imagined. Read full story...

Has the Fed declared war on the working class?

If the actions pursued by the Federal Reserve were being masterminded by Al-Qaeda, they would be denounced as acts of war. In World War II, such actions were deliberate acts of war. Targeting the economy for destruction by flooding the money supply with counterfeit currency is, by any measure, a threat to any nation.

So why is the Federal Reserve engaged in actions that, if committed by other nations, would warrant a military response? This is not an idle question. I'm not asking this in a satirical way. I'm quite serious about this: Why is the Fed committing acts of economic warfare against the United States of America? (The Fed, by the way, is a private company. It is not, as you've been led to believe, part of the U.S. government.) [Some videos presenting the facts on that here, here, here and here]

The answer is obvious. You've probably already figured it out: The Federal Reserve is at war with America. It's an economic war, of course, not a bombs-and-bullets war. The casualties, though, are just as real: Savings accounts, retirement funds, bank accounts, jobs, businesses, pensions and much more.

By counterfeiting trillions of dollars like a Sachsenhausen operation on steroids, the Fed is carpet-bombing the U.S. economy with an unprecedented flood of fiat currency, causing the exact same economic destruction intended by the Nazis in World War II (but on a much more devastating scale). And it's doing this as part of a new economic war.

Class warfare has begun

What war? The war between the wealthy elite and the working class. The Fed is working hard, of course, to protect the wealthy elite. Over a trillion dollars of taxpayer money has already been earmarked to bail out the rich, elite bankers who lost other people's money in a series of idiotic bets on fictitious financial instruments.

And what are these bankers doing with this taxpayer money? According to an Associated Press report published yesterday, executives of the failed insurance company AIG were sent on a $440,000 retreat "to a posh California resort" less than one week after the U.S. government bailed them out. At the spa, AIG executives enjoyed spa treatments, massages, organic food buffets and bodywork therapy, all while the American taxpayers footing the bill were slaving away in real jobs, doing real work. Want to see the invoice for yourself? View it here.

That's how this new class warfare is taking shape: YOU (the working class) get all the debt, all the losses, and all the financial burden. THEY (the wealthy elite) get all the profits, all the luxury spa treatments, all the tax breaks and billions of dollars in free money from the Federal Reserve.

In the 1942 Operation Bernhardt, the Germans literally planned to load hundreds of millions of dollars in British Pound bank notes and air-drop them over London. The resulting chaos, it was believed, would shut down the British economy, halting the flow of money needed by Britain to fund its war effort. In the United States today, the Fed is taking a different approach: Air-dropping trillions of dollars into the laps and bank accounts of wealthy bankers and financial institution CEOs, concentrating the massive creation of fiat currency into the hands of less than 1% of the population.

And just to make sure the economic carpet-bombing is a complete success, the Federal Reserve and U.S. government are conspiring to create more than a trillion dollars in new money each week, then flood those funds into banks, businesses and insurance companies. This will, of course, devastate the value of the dollars being saved, held or earned by the wage slaves who labor their lives away under this economic regime. (That would be you and me.)

It's a brilliant plan... if you're interested in destroying a nation. This kind of attack would bring almost any nation to its knees. It's an act of war that requires no violence, no bombs and no destruction of real infrastructure. And yet it achieves what every war in history has ever sought to achieve: The transfer of power from the hands of the many to the hands of the few. The Federal Reserve, in effect, has become a modern-day economic Third Reich, and it has set its sights on the U.S. economy.

Acts of economic terrorism?

The Federal Reserve is now doing to the U.S. what the terrorists could never have accomplished: The destruction of a large portion of its economy, its currency and the savings of its people. The economic losses of 9/11 pale in comparison to the financial destruction that has been unleashed onto America by the Federal Reserve.

Yet, amazingly, it wasn't "terrorists" who put this plan into place. Who was it, exactly? Your Congressional representatives played an important role in allowing this to happen. In a grand, historical betrayal of the American people, members of your own U.S. House of Representatives and Senate voted to initiate a massive economic coup in America, violating the wishes of 99% of the American people (who are aligned against bailing out the rich on the backs of the poor).

Of course, to hear them explain it, their actions are meant to save the taxpayers. Yep, that's their plan: To save YOU, the taxpayer, by confiscating your money and handing it over to the wealthy elite. And whatever money can't be stolen from the taxpayers will be counterfeited by the Fed's money-creation machine.

The Real Agenda: A Massive Transfer of Wealth

We are not watching an economic rescue, friends. We are watching an economic coup. Creating and dumping trillions of dollars into the money supply is an act of war. But it's a war with a specific purpose.

What's happening right now is that the United States is being taken over by King Henry and his accomplices. More than fifty percent of the housing and nearly twenty percent of the entire U.S. economy is now controlled by one person -- Henry Paulson -- and that person answers to no one. He isn't elected, he can't be removed from office, and he's subject to no law.

King Henry controls unlimited funds. He can print any amount of money, or confiscate any amount from the taxpayers (by spending taxpayer dollars to bail out his rich friends). If the Federal Reserve is the new Third Reich, King Henry is its Hitler.

The economic war has already been lost by the People. It was lost on September 30, 2008, when Congress surrendered the U.S. economy to King Henry. The People now own nothing but paper money and ephemeral digital account numbers, all of which could be turned into worthless digits overnight by a single decision from King Henry.

In this economic bailout and the Fed's unlimited creation of new money, America has suffered the greatest act of economic warfare in our nation's history. Note carefully that it wasn't conducted by the Nazis, Saddam Hussein or Al Qaeda. It was, in fact, put into place by 172 Democrats and 91 Republicans in the House, and a similar majority in the U.S. Senate. (See the complete list at the original article source linked above.) more...

| NewWorldOrder | America | Economic Crisis |

AIG Hits Up Fed for More Money CNN Money (October 8, 2008) - The New York Federal Reserve is lending up to $37.8 billion to American International Group to give the troubled insurer access to much-needed cash. In exchange, AIG is giving the New York Fed investment-grade, fixed-income securities that it had previously lent out to other institutions for a fee. Those institutions are now returning these securities and want their money back.

The new program, announced Wednesday, is on top of the $85 billion the federal government agreed to lend to AIG last month to prevent the global company from collapsing. AIG said last Friday it had drawn down $61 billion. The lending program is a way for AIG to get funding for its businesses, said a New York Fed spokesman. The system is similar to lending facilities the Fed provides to banks, which can also exchange collateral for cash.

The latest announcement does not jeopardize the government's ability to recoup its loan to AIG, experts said. "AIG will repay the loan," said Stewart Johnson, portfolio manager at Philo Smith, an investment bank specializing in insurance. "It's just a matter of how much of themselves they will have to sell."

Paying back a big debt

On Sept. 16, the Federal Reserve Board agreed to lend AIG $85 billion, using the company's assets as collateral. The loan is expected to be repaid from the proceeds of the asset sales. Interest on the line of credit is steep, and the government took a 79.9% stake in the company. Last week, AIG said it planned to hold onto its property-and-casualty insurance businesses, while selling off the rest of the company to pay the massive debt. Those other business lines include its aircraft leasing unit; asset-management division; retirement services; and U.S. life insurance operations.

AIG chief executive Edward Liddy, who was installed by the Federal Reserve last month after the bailout, on a conference call last Friday was optimistic about the potential for the asset sales. "We fully expect to emerge from this with a capital structure that's fit to fight," he said. "Our insurance businesses...are strong and well-capitalized." But some analysts are more skeptical. "The current disruption in the credit markets could make it difficult to sell businesses at attractive valuations," ratings agency Standard and Poor's said.

CreditSights valued the units AIG planned to sell at $32.9 billion and the divisions it will keep at $86 billion. These figures do not include the sale of a minority stake in its foreign life insurance operations, valued at $133.1 billion. First to hit the market will likely be units tied to airline leasing and consumer lending, both of which require funding from the debt markets, which is hard to come by these days. International Lease Finance Corp. could command more than $7 billion and American General Finance Corp. will likely bring in about $2 billion, according to CreditSights. Once AIG sells its assets, it faces many hurdles in stabilizing its property and casualty insurance divisions, experts said.
| America | Economic Crisis |

Federal Reserve, ECB and Bank of England make emergency interest rate cuts Telegraph UK (October 8, 2008) - The Federal Reserve, the European Central Bank and the Bank of England have all cut interest rates in an emergency move to restore confidence in the global financial system. The Fed cut its benchmark rate by a half point to 1.5 pc, the central bank said in a statement. The ECB and central banks of the U.K., Canada, Sweden and Switzerland are also reducing rates, the Fed added. "The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability," according to a joint statement by the central banks. "Some easing of global monetary conditions is therefore warranted." The move comes as the turmoil in financial markets deepens and the UK today unveiled a £500bn rescue package for the country's banking sector.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

George Bush to summon leaders to emergency finance summit Telegraph UK (October 7, 2008) - The prospect of a high-level global meeting came as the US central bank launched a new bid to unfreeze credit markets by effectively lending billions of dollars to US companies. The Federal Reserve moved after lending in the commercial paper market - where companies raise money from the open money markets - all but ceased, raising a serious threat to many American businesses' operations. "This facility should encourage investors to once again engage in term lending in the commercial paper market," the Fed said.

The Fed's move -- which puts billions of dollars of US taxpayers' money at risk -- was the latest sign of how desperate American leaders are to unblock the global financial system and avert a severe recession. Mr Bush underlined that message personally on Tuesday in conversations with other world leaders. The Prime Minister, Nicolas Sarkozy, the French President and Silvio Berlusconi, the Italian Prime Minister, spoke with the United States President by telephone. Mr Bush urged his European counterparts to coordinate efforts to solve financial crisis spreading around the globe. All are expected to agree to attend a meeting if the details can be thrashed out.

Downing Street said it was "a good idea" and welcomed the President's close attention to events in Europe. The idea was floated by Mr Sarkozy, who holds the presidency of the European Union. Dana Perino, the White House press secretary, said: "The president obviously talked to President Sarkozy about his idea to have a meeting. The president's open to that." The venue for the meeting would still have to be decided, although Washington is the likely destination.

Mr Brown squeezed in a last-minute meeting with Mr Bush when he was in America two weeks ago, prior to Congress agreeing the £700 billion rescue plan that had been proposed by Hank Paulsen, the United States Treasury Secretary. At that stage the problems of Europe seemed to relatively minor compared to the crisis unfolding on Wall Street, but events in Europe and elsewhere in the last week have highlighted the need for concerted and co-ordinated action.

In Luxembourg EU finance ministers on Tuesday said that they will talk daily in future and "ensure a comprehensive and coordinated response to the current situation." They agreed to guarantee private savings of up to Euro 50,000 (£38,900) for one year after failing to agree on a higher limit of Euro 100,000 (£77,800). The new limit is below the protection already offered by many EU countries, including the UK.

EU governments have been trying to restore confidence after a series of bank bailouts last week and a "beggar-my-neighbour" scramble by individual countries to increase deposit guarantees, started by Ireland's promise to underwrite 100 percent of deposits. Disparities in EU states' treatment of banks is unnerving investors and prompting savers to shift billions across borders.

In another unilateral European move, Spain on Tuesday announced it was setting up a £30 billion fund to help the financial sector. Taro Aso, the Japanese Prime Minister, said he was concerned that the EU leaders' failure to agree a seamless response to the banking crisis will cause continued turmoil in world markets. Mr Aso said: "European leaders have met, but it didn't go well, and European financial markets have fluctuated rapidly and substantially, so I'm worried about the impact on Japan."
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

European Crisis Deepens; Officials Vow to Save Banks Bloomberg (October 6, 2008) - The credit crunch deepened in Europe as government leaders pledged to bail out troubled banks and protect depositors. BNP Paribas SA will take control of Fortis's units in Belgium and Luxembourg after government efforts to ensure the company's stability failed, while Germany's government and financial institutions agreed on a 50 billion euro ($68 billion) rescue package for Hypo Real Estate Holding AG. U.K. Chancellor of the Exchequer Alistair Darling said Britain is "ready to do whatever it takes" to help its banks.

The developments yesterday came a day after a summit in Paris where leaders of Europe's four biggest economies stopped short of a plan mirroring the $700 billion rescue in the U.S. to counter the worst financial crisis since World War II. Instead, they agreed to work together to limit the economic fallout, ease accounting rules, and seek tougher financial regulations. "Until now the solutions have appeared to be uncoordinated, so perhaps it's time for a more coordinated approach globally," said Torsten Slok, an economist at Deutsche Bank AG in New York. "It's not just the U.S. and Europe, it's banks in every part of the world."

The euro slid to a 13-month low against the dollar and Treasuries rose as the credit crisis spread outside the U.S., prompting investors to opt for less risky investments. Asian stocks fell for a third day, led by financial companies.

`New World'

French President Nicolas Sarkozy, who convened the Oct. 4 meeting, called for a global summit "as soon as possible" to implement "a real and complete reform of the international financial system." He said "all actors" must be supervised, including credit-rating firms and hedge funds. Executive-pay systems must also be reviewed, he said. "We want a new world to come out of this," Sarkozy said. "We want to set up the basis for a capitalism of entrepreneurs, not speculators." Finance ministers from the Group of Seven industrialized nations meet in Washington later this week.

German Chancellor Angela Merkel's opposition to collective action underscored the hurdles to a European front. "Each country must take its responsibilities at a national level," she told a joint press conference after the summit. Germany will guarantee the savings of private account holders, Merkel said, in a bid by Europe's biggest economy to prevent a rush of withdrawals. Denmark said today commercial lenders will provide as much as 35 billion kroner ($6.4 billion) over the next two years to a fund to insure depositors against losses. Read full story...

Deposit Guarantees

Until now, German savings accounts, including those of small, privately held companies, have been guaranteed by 180 banks in Germany, the BDB private banks group said on Oct. 2. The guarantees of the banks covered 90 percent of an account's balance to a maximum of 20,000 euros, the group said. The German and Danish governments' commitments follow similar verbal pledges by Sarkozy and Italian Prime Minister Silvio Berlusconi, both of whom have promised to prevent losses for depositors in their countries. Ireland is guaranteeing banks' deposits and debts for two years, to restore confidence in the country's financial industry. Amid the race to shore up Europe's faltering financial institutions, BNP Paribas, France's biggest lender, agreed to pay 14.5 billion euros for control of Fortis's units in Belgium and Luxembourg.

BNP Paribas

The sale comes after a Sept. 28 bailout failed to stabilize what was Belgium's biggest financial-services provider, as clients withdrew money and the company had trouble obtaining loans. Fortis received an 11.2 billion euro capital injection from Belgium, the Netherlands and Luxembourg. The Belgian government will have an 11.6 percent stake in BNP Paribas, and Luxembourg a 1.1 percent holding, after the purchases are completed, BNP Paribas said in a statement today.

On Oct. 3, the Dutch government took control of Fortis's units in the Netherlands for 16.8 billion euros after deciding the initial rescue didn't go far enough. Meanwhile, Hypo Real Estate won a reprieve after Germany's finance ministry said the country's banks and insurers agreed to double a credit line for the company to 30 billion euros. The federal government's guarantee for the credit line remains unchanged, Torsten Albig, a spokesman for Finance Minister Peer Steinbrueck, said late yesterday in an e-mailed statement.

Too Big to Fail

Munich-based Hypo Real Estate had earlier announced that a government-backed 35 billion-euro bailout plan collapsed after commercial banks withdrew their support. The government and the Bundesbank have said that the nation's second-biggest property lender is too big to fail. The Hypo reprieve comes after Dexia SA, the world's biggest lender to local governments, got a 6.4 billion euro state-backed rescue on Sept. 30. Belgium's federal and regional governments, France and the company's largest shareholders will supply the funds for Brussels- and Paris-based Dexia.

Meanwhile, UniCredit SpA, Italy's biggest bank by assets, said it planned to boost capital by as much as 6.6 billion euros in an effort to calm investors' concerns about the strength of the lender's finances. The capital-raising project approved late yesterday by the bank's directors includes replacing the lender's cash dividend for 2008 earnings with 3.6 billion euros of new shares, and selling 3 billion euros of convertible securities.

Helping Banks

In the U.K., Darling said the government, which took over Bradford & Bingley Plc last week, is ready to offer further support to banks that may get into financial difficulty. He did not rule out a further injection of capital for failing institutions. "We are ready to do whatever it takes, and that is, we've put money in to help banks generally," Darling told the British Broadcasting Corp.'s Sunday AM program. "There are other measures we will be taking too, and I will announce them when we are ready to do that."

Darling's boss, Prime Minister Gordon Brown, was among the leaders gathered in Paris, along with Berlusconi, Luxembourg Prime Minister Jean-Claude Juncker, European Commission President Jose Manuel Barroso and European Central Bank President Jean- Claude Trichet.

Severe Crisis

"The good news out of the Paris meeting is that the European heads of state now recognize the severity of this crisis," Goldman Sachs Group Inc. economists Natacha Valla and Erik Nielsen said in a note to investors. "A pan-European approach would be much preferred, but given the urgency and complexities of organizing such measures between different fiscal regimes, national measures -- coordinated to the extent possible -- might still be good enough."

The leaders agreed on policy recommendations touching on regulation and accounting and said they'd press for looser enforcement of budget and competition rules at the EU level. They said they would seek to harmonize guarantees of deposit levels. The U.K. bank regulator increased its insurance ceiling to 50,000 pounds ($88,300) per account from 35,000 pounds to stem a flow of funds to Ireland after officials in Dublin guaranteed all debts and deposits of its banks.

Policy Recommendations

Anticipating increased spending, declining tax revenue, and government bank takeovers, European leaders called for "greater flexibility" in the application of the EU budget ceiling. European finance ministers last month pledged to keep their budget deficits below 3 percent of gross domestic product even as the economic slowdown dents tax receipts and boosts welfare payments. The leaders said they want to allow banks to keep some assets valued as if they'd be held until maturity, instead of having to review their value each quarter.

They also said they want to change accounting rules that require banks to review their holdings each quarter and report losses when the values decline, the so-called mark-to-market standard. Banks worldwide have written down more than $580 billion since last year, according to data compiled by Bloomberg.

| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Panic engulfs global stock markets AFP (October 6, 2008) - World markets suffered massive losses Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis. London, Frankfurt and Paris all tumbled more than six percent approaching the half-way mark while a 15-percent dive in Moscow forced a halt to Russian trading. "We have a seriously weak and fear driven market at our hands," said Tom Hougaard, chief market strategist at City Index. "It is anyone's guess where we will end the day."

Investors dumped shares after US stock markets had fallen sharply on Friday, despite US congressional approval of a 700-billion-dollar bank bailout. On Monday, Tokyo ended down 4.25 percent as Hong Kong's stock market shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai was down 5.58 percent in late afternoon trade. European stocks plummeted after Germany's fourth biggest bank had to be rescued over the weekend -- news that pushed the euro to a 13-month low against the dollar on Monday.

Crude oil futures tumbled to eight-month lows below 90 dollars a barrel in London and New York as worsening financial turmoil triggered fears about slowing demand for energy. "The market is not convinced that the US bailout package can protect the economy from the financial crisis," said Toyo Securities strategist Ryuta Otsuka. The Saudi stock market, the largest in the Arab world, shed 9.6 percent at the opening on Monday after a week-long holiday, and shares in other energy-rich Gulf states also slumped. "The Fed's bailout plan may have been passed on Friday but so far there's been no real reaction in credit markets and because of this the natural assumption is going to be that the measures won't work, even if such a call is rather premature," CMC Markets dealer Matt Buckland added.

Underscoring the worsening conditions in the United States, the world's largest economy, 159,000 US jobs were lost in September, according to government figures published Friday. "The approval of the financial rescue plan failed to bolster market confidence. Pessimism towards the global economy is running deeper," said Young Wang, an analyst at Yuanta Securities Investment Consulting in Taipei, where stocks ended down 4.1 percent, also at a four-year low.

As the US-born financial crisis takes a stronger grip in Europe, the German government agreed an emergency rescue package of 50 billion euros, or 68 billion dollars, for Hypo Real Estate, late Sunday before markets opened in Asia. It also announced an unlimited guarantee for personal savings deposits. France's BNP Paribas meanwhile announced Sunday that it was taking control of the operations of ailing financial group Fortis in Belgium and Luxembourg. The leaders of France, Germany, Italy and Britain vowed over the weekend to protect fragile banks but did not discuss a European financial rescue package. "Financial stocks are certainly going to be under pressure again with German mortgage lender Hypo Real Estate being the latest to receive state aid but the overall impact is going to cross all sectors with the prospect of slowing demand weighing on all the (company) heavyweights," added Buckland.

In an effort to keep credit flowing, global central banks pumped billions of extra dollars into short-term lending markets in what has become a daily effort to keep cash moving in a critical network. Markets were looking ahead to a meeting Friday of finance chiefs from the Group of Seven rich nations, waiting for any announcements on coordinated action such as liquidity injections or interest rate cuts, dealers said. A speech Tuesday by US Federal Reserve Chairman Ben Bernanke would also be closely watched for any clues on the possibility of a US interest rate cut. The Bank of England was expected to cut British borrowing costs by at least a quarter of a percentage point when it meets on Thursday.
| EU/UN / 4th Kingdom | America | Economic Crisis |

Four European nations call for new EU body to supervise banks Breitbart.com (October 4, 2008) - Four major European nations agreed Saturday to set up within the European Union a body to supervise banks as part of their efforts to stem the spread of the financial turmoil, triggered by the U.S. subprime mortgage crisis, in Europe. In a statement released after an emergency summit in Paris to deal with the financial crisis, leaders of Britain, France, Germany and Italy said mechanisms should be established within the European Union to oversee cross-border European financial institutions and enhance international cooperation.

The four nations also agreed that should public support be necessary for ailing financial institutions, it should take place in "a framework which recognizes adequate protection of taxpayers' money, the responsibility of managers, and shareholders to bear their share of the burden." They welcome the decision of the European Investment Bank to mobilize 30 billion euros of support for small and medium size European enterprises and urge the bank to frontload this effort, the statement said.

The four European Group of Eight member nations also agreed that the application of the Stability and Growth Pact, which governs fiscal policies of EU member states, should "reflect the current exceptional circumstances." The pact requires EU member states to limit the size of their budget deficit to less than 3 percent of gross domestic product. But the agreement by Britain, France, Germany and Italy suggests they will tolerate the deficit of an EU member state breaching the 3 percent of GDP threshold if it occurs as a result of the nationalization of failed financial institutions.

The four nations also expressed strong support for the recent actions taken by the European Central Bank and other European central banks to respond to the financial crisis and pledged to "take all the necessary measures" to ensure the soundness and stability of the European banking and financial system. French President Nicolas Sarkozy told a press conference after the summit that an emergency G-8 summit should be convened to discuss and come up with global countermeasures for the crisis. In addition to British Prime Minister Gordon Brown, German Chancellor Angela Merkel and Italian Prime Minister Silvio Berlusconi, other European leaders, including ECB President Jean-Claude Trichet attended the summit.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Syria rebuffs nuclear inspectors BBC News (October 3, 2008) - The head of Syria's nuclear programme has said that the country's military sites will remain off-limits to international nuclear inspectors. Damascus said it would co-operate with an International Atomic Energy Agency (IAEA) inquiry only if it did not threaten its national security. The watchdog is investigating claims of a secret Syrian nuclear programme. Syria's announcement comes after it dropped a bid to win a place on the board of the IAEA.

The IAEA investigation follows US allegations that Damascus was close to completing a nuclear reactor at a secret location, which was bombed by Israel last year. Syria has denied the allegations as "ridiculous". Ibrahim Othman told the IAEA that his government was "co-operating with the agency in full transparency". "However, this co-operation will not be in any way at the expense of disclosing our military sites or causing a threat to our national security," he added.

'Good co-operation'

Damascus allowed IAEA inspectors to visit the site at al-Kibar in June but has refused any follow-up trips. On Friday, Syria dropped its bid for a place on the IAEA board, leaving the post open to Western-backed Afghanistan. Both had been vying for the same seat on the board, representing the Middle East and South Asia (Mesa) group.

The body had been facing a divisive and unprecedented vote on the issue. IAEA Director Mohamed ElBaradei said Syria's co-operation had been "good", but it needed to show "maximum co-operation" for the agency to draw any conclusions.

A Syrian officer reported to have been in charge of facilitating the IAEA probe was killed in unexplained circumstances last summer, further delaying the proceedings. On Wednesday Iran, also accused by some countries of clandestine nuclear activity, dropped its bid for a seat on the IAEA board, saying it wanted to make way for regional ally Syria to join instead.
| Iran | Islam | EU/UN / 4th Kingdom | America |

Rebuilding EU-US relations Euractiv (October 3, 2008) - "There is a new window of opportunity to rebuild relations between the US and the EU as the Bush era draws to a close," according to Ronald D. Asmus, executive director of the Brussels-based Transatlantic Centre, a think tank. To do this, the United States and Europe need to define a common strategic agenda, argues Asmus's November paper. Deepening their economic integration ranks highly among the issues on which they must cooperate more, believes Asmus.

Rather than lowering tariffs or trade barriers, the aim here should be to create more common regulatory frameworks that eliminate barriers to trade and investment altogether, the author argues. Not only would leadership on this issue boost the GDP of both countries, it would also "assure the stability and openness of the global economy in this new era," he argues.

Asmus also calls on the "United States and Europe to define cooperation in homeland security to defend their societies and borders against the risk of terrorist and bio-weapon attacks". Furthermore, the two continents should aim to create fully liberalised visa regimes and travel between the United States and Europe because "such openness has tremendous potential to touch the lives of average citizens and bring both sides of the Atlantic back together". In Asmus's view, the transatlantic alliance should also promote democracy and freedom beyond its own borders and embrace those who seek to join the democratic community. Indeed, he states: "Keeping our doors open and anchoring young democracies while confronting a more nationalistic and assertive Russia is again at the top of the transatlantic agenda." Nevertheless, he says that the United States and Europe are not yet able to pursue a new and broader transatlantic agenda. He believes "we need to get the plumbing – the day-to-day processes of working together – of a new transatlantic relationship right" first.

In today's world, the US does not only need to cooperate with Europe on military and defence issues, but other policy domains such as energy, health and the environment, Asmus argues, all of which are within the competence of the EU. Thus, the United States cannot afford to have strong relations with NATO alone. "It needs strategic engagement with both organisations," he claims. To ensure that the transatlantic alliance works in practice, Asmus suggests that pragmatism should be the guiding principle, stating: "Washington and Brussels should embrace the well-known lesson of past transatlantic disputes: first work it out in practice; then rewrite the theory." To conclude, Asmus hopes that the next US president will have "the vision and the will to make the right kind of difference".
 | EU/UN / 4th Kingdom | NewWorldOrder | America |

NATO and EU to pool helicopters and air carriers EU Observer (October 2, 2008) - Both the EU and NATO seek to pool their defence capabilities drawn from the same European countries, after having experienced similar shortfalls in helicopters and air carriers in their missions in Chad and Afghanistan. The idea has been championed by the French EU presidency, which hopes to see several concrete initiatives adopted in November by EU defence ministers.

At an informal EU defence minister meeting in Deauville on Wednesday (1 October), France obtained the backing of several member states for initiatives such as setting up a trust fund to upgrade Europe's helicopter fleet to make up for shortfalls in helicopters and transport aircraft needed for quick and effective EU deployments abroad. The final decision will be taken at a formal defence ministers' summit in Brussels on 10 November.

The shortfall in helicopters was already highlighted on Monday, when General Patrick Nash, the operational commander of the EU mission in Chad told a press conference in Brussels that four helicopters might be soon borrowed from Russia, with talks being at "a very advanced stage." Yet the problem is not unique to the EU mission, as NATO and the United Nations experience similar challenges.

General James Mattis, in charge of NATO's capability development and transformation, recently met his EU counterpart, the chief executive of the European Defence Agency, Alexander Weis, in order to find "areas of common interest", such as helicopter and airlift capabilities. "In regards to airlift, helicopters, medical transports – whether it is an EU mission to Darfur or a NATO mission somewhere else, we just need those capabilities," General Mattis told journalists at a briefing on Wednesday during NATO Industry Day, which took place in Brussels.

He also stressed that when the EU and NATO draw on troops, they do it "from the same population of forces", which means that the two entities need to look for solutions that "resonate with each other, not contradict each other." "We're not a the point right now where the EU and NATO are working that closely, although they're starting," General Mattis said. Read full story...

The French connection

Yet France might play a pivotal role in this regard, with President Nicolas Sarkozy setting the improvement of EU defence capabilities as a precondition for his country to rejoin NATO's military structure, which is expected to take place at NATO's 60th anniversary summit in April next year.

French defence minister Herve Morin proved his commitment to pool EU military capabilities even when asked if the current global financial crisis will have an impact on the member states in terms of defence spending. "There are two ways you can face an economic crisis, when you have reduction in state revenue," Mr Morin said on Wednesday after the ministers meeting in Deauville.

"One is to say, let's forget everything and say there is nothing we can do in the future. The other reaction is to say, we may have less available, so let's pool our resources. That's a more intelligent response, surely. Let's share we've got, if we are going to have less," he urged.

Boeing for NATO, Airbus for EU

While the French defence minister was unveiling in Dauville a plan to lend Airbus A400M transport planes between EU countries or to create a multinational fleet at their disposal, in Brussels 10 NATO countries plus Sweden and Finland signed a deal to jointly buy and operate three Boeing C-17 carriers.

This NATO initiative, called Strategic Airlift Capability (SAC) "will support operations in Afghanistan and elsewhere, as well as other national missions, including EU and UN missions", Peter Flory, NATO Assistant Secretary General for Defense Investment said in a press release.

The 10 NATO members involved in SAC are Bulgaria, Estonia, Hungary, Lithuania, Netherlands, Norway, Poland, Romania, Slovenia and the United States, while the planes are to be placed at the Hungarian air base Papa early next year.

| EU/UN / 4th Kingdom | NewWorldOrder | America |

Evangelicals see moral decline in Wall St. woes Reuters (October 1, 2008) - Conservative U.S. Christians say the culture has gone to hell and it has taken the economy and Wall Street down with it. It is a view which outsiders may find puzzling but has wide resonance in the U.S. heartland: the notion that moral decay and a lost sense of responsibility has brought on the worst banking and credit crisis since the Great Depression. Such a view helps explain the unpopularity in conservative Christian circles -- which have a big influence on the Republican Party -- of a $700 billion bailout plan which the U.S. House of Representatives rejected on Monday, rocking financial markets. Mounting consumer and household debt as housing prices fall is one of the main reasons behind the current crisis -- a crisis that religious conservatives say has moral roots.

The narrative goes roughly like this: the "collapse" of the traditional family, widespread divorce and a "permissive" culture have led to a disregard for personal responsibility. A culture focused on instant gratification -- through the overuse of credit cards to buy consumer goods, for example -- has also lost other "traditional values" such as thrift and hard work. "You can't have a strong, vibrant society when you don't have strong, vibrant families. It's a crisis of commitment, it's a crisis of responsibility," said Tony Perkins, president of the Family Research Council, a conservative lobby group with strong evangelical ties. "If you don't live up to your responsibility you are going to see that in the broader culture. You see this on Wall Street," he told Reuters.

It is a view that has been echoed by other conservative commentators, on Christian radio stations and on popular "Talk Radio" programs. "To spend more than you've got is not the way we brought up our kids ... You have a whole credit industry that grew up around people wanting what their parents had without working 20 years to get it," said Gary Ledbetter, spokesman for the Southern Baptists of Texas Convention.

Conservative Christians and evangelical Protestants in particular are a key base of support for the Republican Party which has rallied to John McCain's White House bid since he picked Alaska Gov. Sarah Palin as his running mate. Tying "values" to economic problems is one way that religious conservatives can keep some focus on the "culture" issues they have long fought over as public attention is riveted on Wall Street, job security and house prices. Upholding "traditional" values which they say have been under assault since the 1960s informs much of their outlook, ranging from their opposition to abortion and gay rights to a professed aversion to heavy debt loads.

"Although debt is not a sin, it also is not a normal way of life, according to Scripture ... debt is a dangerous tool that must be used, if at all, with extreme caution and much prayer," says the conservative evangelical advocacy group "Focus on the Family" on its web site. But some commentators have noted that the "Religious Right" has long been among the staunchest supporters of the free-market ideology and the deregulation of financial markets preached by the Republican Party. "Essentially the Christian Right did not do serious biblical reflection on economics, it just borrowed its model from the Republicans," said David Gushee, a professor of Christian ethics at Mercer University in Atlanta. "Conservative Christians who accepted the unregulated free market ethos must bear some of the responsibility for its consequences," said Gushee.
| America | Economic Crisis |

Foreign economists urge 'global plan' The Washington Times (October 1, 2008) - Leaders and economists from Western Europe to East Asia Tuesday urged the United States to go beyond reviving a failed domestic bailout and start working on a new global financial system.  Associated Press Traders at MICEX, the Moscow Interbank Currency Exchange, watch and wait during a tense session in Moscow on Tuesday when stock indexes sank despite a two-hour trading halt. "The Americans don't have a choice — they must absolutely have a global plan," Christian Noyer, head of the French central bank, said in Paris.

David Smick, a global strategist and author of "The World Is Curved: Hidden Dangers of the Global Economy," said the next U.S. president should immediately call for a second "Bretton Woods" conference to devise a new doctrine of international finance. The tiny New Hampshire town hosted a conference shortly after World War II that established rules for economic interchange among the world's industrial powers and created the World Bank and International Monetary Fund. "I am convinced that the sickness runs deep and that we need to rethink the entire financial and monetary system, as we did in Bretton Woods ... to create the tools for worldwide regulation made necessary by the globalization of trade," French President Nicolas Sarkozy said in the French city of Toulon on Monday.

He said that officials from France, Britain, Germany and Italy will meet next week in Paris with the Continent's top financial officials to prepare for a proposed global summit on the economic crisis. European Central Bank President Jean-Claude Trichet will participate. The 27-nation European Union said Tuesday that the crisis "has become a global problem" and Washington has a "special responsibility" to resolve it. German Chancellor Angela Merkel took aim at the House failure to pass the Bush administration's $700 billion bailout proposal, which sparked a global stock market plunge. She called the package a "precondition for creating new confidence in the markets." Kaoru Yosano, the Japanese minister of economic and fiscal policy, agreed. "The outcome has caused a major impact on not only the U.S. economy but also the world economy," he said.

Until a few weeks ago, foreign governments were blase and even gloated about U.S. financial woes, Mr. Smick said. "The decoupled theory has taken a crash landing," demand is plummeting worldwide and foreign financial institutions have been forced to come to terms with their own "toxic waste," he said.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Americans Clueless About Plans to Create New Life Forms Live Science (September 30, 2008) - If you've never heard of the exciting field of synthetic biology, you're not alone, but you might want to get wise to the field's controversial promise to create life from scratch. About two-thirds of U.S. residents are clueless as well, having never heard of the synthetic biology. Only 2 percent in a new telephone survey of 1,003 adults said they have heard a lot about the work, which crosses biology with technology and promises to create forms of life that Nature never thought of.

Synthetic biologists engineer and build or redesign living organisms, such as bacteria, to carry out specific functions. The field is a scientific playground for the genetic code, where previously nonexistent DNA is formulated in test tubes. By taking genetic engineering to the extreme, synthetic biologists aim to make life in the lab.

The promise is that the novel organisms will fight disease, create alternative fuels or build living computers. Already, researchers have transplanted genetic material from one microbe species into the cellular body of another, described last year as the living "equivalent to converting a Macintosh computer to a PC by inserting a new piece of software."

"We face daunting problems of climate change, energy, health, and water resources," a group of 17 leading scientists in the field stated last year. "Synthetic biology offers solutions to these issues: microorganisms that convert plant matter to fuels or that synthesize new drugs or target and destroy rogue cells in the body."

Now you know. But why should you care? For one, the field "is potentially controversial because it raises issues of ownership, misuse, unintended consequences and accidental release," according to a report earlier this year commissioned by the Biotechnology and Biological Sciences Research Council in England. In a nutshell, some fear microscopic lab freaks might escape and wreak havoc.

That in mind, scientists are concerned that the United States is falling behind other countries in many areas of science and technology and that the current administration has been downright hostile toward some fields of science. Obtaining federal funding for cutting-edge research can be challenging when the public doesn't even know what the research is about or what its benefits might be.

And as the new poll showed, we tend to fear what we don't know. Respondents were asked how they viewed the potential risks and rewards of the new technology. "Those more familiar with synthetic biology are more inclined to have a positive assessment of the tradeoff," the pollsters found.

"Early in the administration of the next president, scientists are expected to take the next major step toward the creation of synthetic forms of life," said David Rejeski, director of the Project on Emerging Nanotechnologies. "Yet the results from the first U.S. telephone poll about synthetic biology show that most adults have heard just a little or nothing at all about it." The poll was conducted in August by Peter D. Hart Research Associates. The results were announced today.

Nearly half of the poll respondents said they have heard nothing at all about the broader field of nanotechnology. Again, "there is a positive association between awareness of nanotechnology and the belief that the benefits of nanotechnology will outweigh the risks," the analysts found.
| Technology | America |

France's Sarkozy battles fallout from financial crisis AFP (September 29, 2008) - President Nicolas Sarkozy on Monday battled to contain fallout from the global financial crisis, moving ahead with plans for a world summit and calling a meeting of French banking and insurance chiefs. France will host a meeting of European officials to prepare a summit "in the coming weeks to establish the basis of a new international financial system," said Sarkozy, whose country holds the presidency of the European Union. Officials from Britain, France, Germany and Italy -- the EU members of the G8 -- will meet in Paris in the coming days to lay the groundwork, he said on the sidelines of an EU-India summit in the southern city of Marseille.

On Tuesday, the president is to meet at the Elysee presidential palace with banking and insurance company chiefs to take a close look at the health of French banks and review the credit level of French households and businesses. The announcements came as the Franco-Belgian bank Dexia announced an emergency board meeting after liquidity concerns sent its shares into freefall. Dexia's shares closed Monday down 30 percent on the Paris exchange, at seven euros worth less than a third of their value this time last year.

Belgium's federal government announced late Monday that it had tentatively agreed, along with its three main regions and shareholders, to help prop up the embattled bank -- less than 24 hours after stepping in to rescue Belgian-Netherlands banking and insurance giant Fortis. "During consultations between the federal government and the three regional governments (Wallonia, Flanders and Brussels) this afternoon, they confirmed their in-principle agreement to take part in a joint effort to boost Dexia group's funds," a statement said. The statement, distributed by the office of Prime Minister Yves Leterme, made no mention of financial details but Belgian media said the support could amount to seven billion euros (10 billion dollars). Read full story...

On Sunday, the Benelux countries stepped in to partially nationalise Fortis, increasing fears the crisis that has wiped out several US and British banks was spreading across Europe. Sarkozy warned in a major address last week that France would not be spared from the turmoil unleashed by the US banking crisis. In Paris, the CAC 40 index plunged 5.04 percent to 3,953.48 points Monday in line with other European stock markets.

A further sign of economic trouble came with the release Monday of jobless figures showing that 41,300 people joined the ranks of France's unemployed in August, the biggest monthly spike since 1993, bringing the figure to 1,949,600. The government convened a crisis meeting of job sector officials late Monday to discuss the figures, which have compounded worries about the financial storm. Critics accused the government of deceit, saying that for months it had touted progress in economic reforms when the jobless situation was less than rosy even before the financial storm struck.

Last week Sarkozy insisted the government would "guarantee the security" of the French banking system and warned he would "not accept that a single customer loses a single euro" to collapsing banks. The right-wing president won election in May 2007 on a promise to rev up the economy and bring unemployment -- long the nation's number one concern -- down to five percent. The government unveiled a draft budget on Friday that scrapped a pledge to stamp out the deficit by 2012 and as Paris struggled to rein in public spending amid sluggish growth. "We are in a quasi-recession," said presidential adviser Henri Guaino.

France is headed into a "difficult period" and the government will "do everything that is necessary" to prevent the economy from taking a nosedive, Guaino said. Economy Minister Christine Lagarde said she nevertheless expected 2009 to end with a jobless rate of 7.1 percent, down from 7.2 percent in the second quarter of 2008. That figure was the lowest rate in 25 years, capping a steady decline in the unemployment rate that had even allowed the problem to slide off the national radar over the past year. Opinion polls show purchasing power has replaced unemployment as the number one concern of the average French voter.

Lagarde also Monday unveiled a plan to help French households from falling into a credit trap after the Bank of France said 88,000 people had filed for personal bankruptcy over the past four years, an increase of 70 percent.

| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

They're working to "establish the basis of a new international financial system" huh? Where is this leading do you think? What is the cheapest way to implement a new international financial system in a short period of time? Technology... and the technology is here now.

Dow drops 777 after house rejects bailout bill East Bay Business Times (September 29, 2008) - The Dow Jones Industrial average dropped a record 777 points Monday after the House of Representatives rejected a proposed $700 billion rescue plan for the nation’s struggling financial firms. The Dow closed the day at 10,365.45 as the S& P 500 plunged 106.85 to 106.42 and the Nasdaq dropped 199.61 to 1,983.73.

The House vote, 205 in favor and 228 against, came as a surprise, despite being an unpopular proposal among many American voters. The loss is seen as a blow to leaders of both parties who couldn't keep enough of their members in line to pass the measure. Two-thirds of Republicans voted against it, as well as 95 Democrats. The bill had been modified to satisfy its Congressional opponents, and included language that curbed executive pay and would have created an oversight committee to review the Treasury Department’s actions. With no other alternative plan immediately in the works, the rejection triggered a slide in financial stocks.

The House rejection comes on a day full of signs the financial crisis is accelerating. European regulators moved to bail out four major banks. Citigroup agreed to acquire Wachovia’s banking operations in a stock deal valuing Wachovia at about $1 per share, 90 percent less than its market capitalization Friday. Mitsubishi UFJ said it would take a 21 percent stake in Morgan Stanley for $9 billion. Lehman Brothers agreed to sell its Neuberger Berman mutual fund operations to Bain Capital LLC and Hellman & Friedman LLC for $2.15 billion, part of Lehman’s bankruptcy liquidation. Citigroup (NYSE:C) closed the day at $17.75, down 12 percent. Wachovia (NYSE:WB) closed the day at $1.84, down 82 percent. Bank of America (NYSE:BAC) closed the day at $30.25, down 18 percent. Wells Fargo (NYSE:WFC) closed the day at $33.25, down 11 percent.
| America | Economic Crisis |

Geno, one of the readers, shared this and some other stories with me referencing a passage in scripture I think is appropriate considering where this could very well be headed and where our hearts should be in the midst of it all.

Proverbs 22:1-7
A GOOD name is rather to be chosen than great riches, and loving favour rather than silver and gold. The rich and poor meet together: the LORD is the maker of them all. A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished. By humility and the fear of the LORD are riches, and honour, and life. Thorns and snares are in the way of the froward: he that doth keep his soul shall be far from them. Train up a child in the way he should go: and when he is old, he will not depart from it. The rich ruleth over the poor, and the borrower is servant to the lender.

Training A Socialist Army of World Servers News With Views (September 28, 2008)

Obama: “I will ask for your service and your active citizenship when I am president of the United States ... this will be a central cause of my presidency."[1]

Obama: "People of all ages, stations, and skills will be asked to serve.... I will set a goal for all American middle and high school students to perform 50 hours of service a year, and for all college students to perform 100 hours of service a year...."[2]

Saul Alinsky (Obama's Marxist mentor): "The disruption of the present organization is the first step toward community organization.... All change means disorganization of the old and organization of the new."[3] Rules for Radicals (excerpts here)

Brave New World: "A really efficient totalitarian state would be one in which the all-powerful executive of political bosses and their army of managers control a population of slaves who do not have to be coerced because they love their servitude. To make them love it is the task assigned... to ministries of propaganda, newspaper editors and schoolteachers."[4] Aldous Huxley

“These are serious times," said Barack Obama recently. "And they call for a serious debate about where we need to take the nation.”[5] That's true! So where does he want "to take our nation?" How does his version of "service" fit his vision of CHANGE? And what will it cost in terms of freedom, privacy, taxes, and government control?

There's nothing wrong with the old voluntary, personal service to the poor and needy. For centuries, Christian missionaries have given their lives and comforts to serve God among the sick, hungry and dying people in distant parts of the world. Others have shown the same God-given compassion in their own community. They've demonstrated His love, shared His Truths, and brought hope as well as help to the needy.

Obama's plan is radically different. Aimed at socialist change, it would raise "religious" boundaries, limit free speech, and ban divisive truths. It must be tolerant of today's amoral values and militantly intolerant toward traditional values. And -- like the tactics outlined in Saul Alinsky's "Rules for Radicals" -- it would use deception and "agitation" to create conflict, and the Hegelian/Marxist dialectic process to manipulate minds and establish the planned solidarity.[6] Obama learned all about it during his years as "Community Organizer" in Chicago. Read full story...

| NewWorldOrder | America |

Senate Sends $634 Billion Spending Bill to Bush Fox News (September 27, 2008) - Automakers gained $25 billion in taxpayer-subsidized loans and oil companies won elimination of a long-standing ban on drilling off the Atlantic and Pacific coasts as the Senate passed a sprawling spending bill Saturday. The 78-12 vote sent the $634 billion measure to President Bush, who was expected to sign it even though it spends more money and contains more pet projects than he would have liked.

The measure is needed to keep the government operating beyond the current budget year, which ends Tuesday. As a result, the legislation is one of the few bills this election year that simply must pass. Bush's signature would mean Congress could avoid a lame-duck session after the Nov. 4 election.

The Pentagon is in line for a record budget. In addition to $70 billion approved this summer for operations in Iraq and Afghanistan, the Defense Department would receive $488 billion, a 6 percent increase. The spending bill also offers aid to victims of flooding in the Midwest and recent hurricanes across the Gulf Coast. Such a huge bill usually would dominate the end-of-session agenda on Capitol Hill. But it went below the radar screen because attention focused on the congressional bailout of Wall Street.

The measure settles dozens of battles that have brewed for months between the Democrats who run Congress and the White House and its GOP allies. The administration won approval of the defense budget. Democrats wrested concessions from the White House on $23 billion for disaster-ravaged states, a doubling of low-income heating subsidies, and smaller spending items such as $24 million more for food shipments to the elderly.

The loan package for automakers would reward them with $25 billion in below-market loans, costing taxpayers $7.5 billion to subsidize the retooling of plants and development of technologies to help U.S. carmakers to build cleaner, more fuel efficient cars. Companies would not have to begin repaying the loans for five years, drawing objections from Sen. Jon Kyl, R-Ariz., who predicted they would return for more help when the money is due.

Republicans made ending the coastal drilling ban a central campaign issue this summer as $4-plus per gallon gasoline stoked voter anger and turned public opinion in favor of more exploration. The action does not mean drilling is imminent and still leaves the oil-rich eastern Gulf of Mexico off limits. But it could set the stage for the government to offer leases in some Atlantic federal waters as early as 2011.

Also in the bill is money to avert a shortfall in Pell college aid grants and solve problems in the Women, Infants and Children program delivering healthy foods to the poor. In addition to the Pentagon's budget, there is $40 billion for the Homeland Security Department and $73 billion for veterans' programs and military base construction projects. Combined with the Defense Department's spending, that amounts to about 60 percent of the budget work Congress must pass each year.

Democrats came under criticism from the GOP for short-circuiting the normal process for a spending bill after it became clear that Republicans would force difficult votes on the drilling ban. Democrats also wanted to avoid an election-year clash with Bush that would have played in his favor. They are willing to take their chances that Democrat Barack Obama will be elected president in November and permit increases for scores of programs squeezed by Bush each year. Bush had threatened to veto bills that did not cut the number and cost of pet projects in half or cause agency operating budgets to exceed his request. Democrats ignored the edict as they drafted the plan and the White House has apparently backed down.

Taxpayers for Common Sense, a watchdog group, discovered 2,322 pet projects totaling $6.6 billion. That included 2,025 in the defense portion alone that cost a total of $4.9 billion. Critics of such "earmarks" promise to scrutinize them in coming weeks and months for links to lobbyists and campaign contributions.
| America | Economic Crisis |

Isn't it great to have such money to throw around at a time like this?!

MEPs to ask US Congress about funding for Irish No vote EU Observer (September 26, 2008) - The European Parliament's delegation to the US will on its next trans-Atlantic visit ask Congress about allegations that the Irish anti-Lisbon Treaty campaign was funded out of America. The parliament's political group leaders - the "conference of presidents" - made the decision on Thursday (25 September) following calls for transparency by the Irish and French governments and the European Commission.

The move also comes after Declan Ganley - an Irish businessman with US interests who ran the prominent No-vote lobby, the Libertas group - admitted loaning it €200,000 of his own money. Under Irish rules, donations must be capped at €6,348. The conference of presidents decided not to set up its own commission of enquiry, leaving any investigation to Ireland's Standards in Public Office Commission (SIPO). But the parliament's administration will "regularly and closely monitor the situation."

Using language that puts Mr Ganley in an unsavoury light, the parliament statement noted that SIPO "enjoyed real investigative powers and that any proven misuse of funds ... could lead to sanctions, including of a criminal nature." The leader of the Liberal group, Graham Watson, said he supported contacting the US Congress because Irish-American groups had funded the Irish terrorist group, the IRA, in the past.

The idea that Mr Ganley fronted a US plot to kill the Lisbon Treaty emerged when Irish media reported that his US firm, Rivada Networks, had a €200 million communications equipment contact with the Pentagon. The French leader of the Green group in the European Parliament, Daniel Cohn-Bendit, popularised the theory at the opening meeting of this week's plenary session in Brussels.

"The Irish press revealed that there possibly exists a link between the financers of the No campaign in Ireland and the Pentagon as well as the CIA ... If proved true, this would clearly show that there are forces in the US willing to pay people to destabilise a strong and autonomous Europe," he said. "We stand on the side of those who strive for absolute transparency in all of these questions in order to keep Europe from suffering harm," parliament president Hans-Gert Poettering added.

No means no?

Ireland rejected the Lisbon Treaty in a referendum in June, with most No voters saying they lacked information on the treaty contents. Those who voted No were also concerned about threats to Irish neutrality, Europe's 'democratic deficit' and a weakening of Ireland's position in the European Union.

The main thrust of the treaty was to tidy up EU institutions after the 2004 round of enlargement and help create a robust EU foreign policy, its supporters say. Mr Ganley is now campaigning around Europe to launch an anti-Lisbon political group in time for European Parliament elections in 2009. A second Irish referendum on Lisbon is not expected before late 2009. "Libertas is obliged to communicate the details of its funding to the Irish authorities in 2009. Libertas will comply with this obligation," Mr Ganley said in response to what he called the parliament's "baseless allegations." "This statement gives us grave concern for the state of democracy in Europe," he added. "Neither Libertas nor I have done anything illegal or wrong - this is interference in the electoral process in Ireland."
| EU/UN / 4th Kingdom | America |

U.S. losing financial superpower status: Steinbrueck Market Watch (September 25, 2008) - Germany's finance minister on Thursday laid the blame for the global banking crisis on the Anglo-American free-market model's quest for ever-higher near-term profits, predicting the United States would soon lose its role as the world's dominant financial power.

"The U.S. will lose its status as the superpower of the global financial system, not abruptly but it will erode," Finance Minister Peer Steinbrueck told the lower house of Germany's parliament in Berlin, according to published reports. "The global financial system will become more multi-polar."

Steinbrueck criticized the United States for failing to adequately regulate investment banks and said free-market policies embraced by the United States and Great Britain that emphasized a short-term "insane drive for higher and higher profits" were partly to blame for the crisis. "Wall Street will never be what it was," he said.
 
The finance minister said he would push for a global ban on speculative short selling and would use next month's meeting of the Group of Seven finance ministers and central bankers in Washington to press for new rules that would prevent banks from fully securitizing loans and selling them to third parties.

Steinbrueck said U.S. authorities were late in undertaking rescue efforts, but said he welcomed the decision to attempt to bail out only organizations whose collapse would threaten the world financial system.

He repeated that he felt there was no need for Germany or Europe to echo the U.S. Treasury's proposal to spend around $700 billion to buy up toxic assets from distressed banks' balance sheets, saying the financial crisis is largely an "American problem." The minister warned, however, that the fallout from the crisis would make for lower growth in the near future and eventually impact the labor market.
| EU/UN / 4th Kingdom | America | Economic Crisis |

Something to consider regarding the "multi-polar" global financial system, it is still all run by central banks with the power to create currency, or perhaps do away with currency as we know it all-together in favor of a replacement system with global control. Power corrupts and absolute power corrupts absolutely. There is a conspiracy in the works by the mystery of iniquity, 2 Thessalonians 2, to bring about consolidation of power to hand to the man of sin according to scripture.

Wall Street rescue deal blocked BBC (September 26, 2008) - Talks to agree a huge $700bn (£380bn) bail-out of the US financial industry have ended in a "shouting match". After several hours of discussions with President George W Bush, a group of Republican members of Congress blocked the government plan. The proposal would have seen the government buy bad debts from US banks to prevent more of them collapsing. President Bush is due to make a statement about the negotiations at 0935 in Washington (1435 BST).

Both sides have agreed to resume talks later on Friday. The leader of the Democrats in the House of Representatives, Nancy Pelosi, told ABC News that she "hoped" a bailout plan could be agreed within 24 hours, because "it has to happen". Financial markets are gummed up because banks do not know exactly how much bad debt they hold and are therefore reluctant to lend to businesses, consumers and each other. The fall-out of this credit crunch continues to make a huge impact: The United States suffered its largest bank failure yet, when regulators moved in to close down Washington Mutual and then sold it to US rival JP Morgan Chase for $1.9bn

In a co-ordinated move the European Central Bank, the US Federal Reserve, the Bank of England, Bank of Japan and the Swiss National Bank announced new short-term loans to the banking sector worth tens of billions of dollars. Banks continued to cut costs, with UK banking giant HSBC saying it would axe 1,100 jobs Shares in UK bank Bradford & Bingley fell another 20% to 17 pence before recovering slightly. Read full story...

'Full throated discussion'

On Thursday, Democratic and Republican legislators appeared to have struck a deal. A group of Democrats and Republicans even made a public statement, with Senator Christopher Dodd, chairman of the Senate Banking Committee, announcing that they had reached "fundamental agreement" on the principles of a bail-out plan.

But after the White House meeting, the top Republican on the committee, Richard Shelby, told reporters: "I don't believe we have an agreement." The intense discussions reportedly saw US Treasury Secretary Henry Paulson literally down on one knee, begging Ms Pelosi to help push through the bail-out package. However, the agreement unravelled when a group of Republican legislators objected to the principle of the plan. The talks at the White House, led by Mr Paulson and US President George W Bush, then descended into what one participant described as "a full-throated discussion". Officials with the campaign team of Republican presidential candidate John McCain spoke of "a contentious shouting match".

The Republican critics of the bail-out plan worry about both its cost and how it would involve the government in the financial sector. Instead, they want a government-backed insurance policy for the huge amounts of bad debt built up by US banks. This proposal, however, was described as "unworkable" both by Democratic politicians and some US government officials.

Doubts over presidential debate

Some Democrats were scathing about the lack of support for the Paulson plan. "For House Republicans to take a walk is just appalling," said Democrat Barney Frank. He later added that the passage of the bill depended on the Republicans. "It depends on the House Republicans dropping this revolt against the president and cooperating in trying to amend the plan," he said.

The breakdown of talks has put a huge question mark over the first debate in the presidential election campaign in the US. Democratic candidate Barack Obama and Mr McCain were supposed to meet in Oxford, Mississippi. But Mr McCain said he wanted to pull out and focus on getting a bailout plan agreed instead. Democrats accused him of posturing and avoiding telling voters how he would solve the crisis.

Bank failure

As the credit crunch continues to bite, regulators moved in and shut down Washington Mutual (WaMu), one of the largest savings and loan institutions in the US. Depositors had withdrawn $16.7bn from the bank during the past 10 days alone. They immediately sold on the bank to banking giant JPMorgan Chase for $1.9bn. "With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business," said the Office of Thrift Supervision.

WaMu had seen its share price drop by more than 80% this year, after suffering considerable losses due to failed mortgages. Earlier this year JPMorgan Chase also bought investment bank Bear Stearns when it faced collapse.

| NewWorldOrder | America | Economic Crisis |

We're seeing further consolidation of financial power while the government is taking greater control and the Federal Reserve (neither federal nor reserve), along with global central banks, are pumping money into the system and devaluing currency. I believe we may be seeing the destruction of global economies to make way for a consolidation of power and control leading to the eventual fulfillment of the mark of the beast, the implementation of a global cashless monetary system enabled by technology.

WaMu is largest U.S. bank failure Reuters (September 25, 2008) - Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. Thursday's seizure and sale is the latest historic step in U.S. government attempts to clean up a banking industry littered with toxic mortgage debt. Negotiations over a $700 billion bailout of the entire financial system stalled in Washington on Thursday.

Washington Mutual, the largest U.S. savings and loan, has been one of the lenders hardest hit by the nation's housing bust and credit crisis, and had already suffered from soaring mortgage losses. Washington Mutual was shut by the federal Office of Thrift Supervision, and the Federal Deposit Insurance Corp was named receiver. This followed $16.7 billion of deposit outflows at the Seattle-based thrift since Sept 15, the OTS said. "With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business," the OTS said. Customers should expect business as usual on Friday, and all depositors are fully protected, the FDIC said.

FDIC Chairman Sheila Bair said the bailout happened on Thursday night because of media leaks, and to calm customers. Usually, the FDIC takes control of failed institutions on Friday nights, giving it the weekend to go through the books and enable them to reopen smoothly the following Monday. Washington Mutual has about $307 billion of assets and $188 billion of deposits, regulators said. The largest previous U.S. banking failure was Continental Illinois National Bank & Trust, which had $40 billion of assets when it collapsed in 1984.

JPMorgan said the transaction means it will now have 5,410 branches in 23 U.S. states from coast to coast, as well as the largest U.S. credit card business. It vaults JPMorgan past Bank of America Corp to become the nation's second-largest bank, with $2.04 trillion of assets, just behind Citigroup Inc. Bank of America will go to No. 1 once it completes its planned purchase of Merrill Lynch & Co. The bailout also fulfills JPMorgan Chief Executive Jamie Dimon's long-held goal of becoming a retail bank force in the western United States. It comes four months after JPMorgan acquired the failing investment bank Bear Stearns Cos at a fire-sale price through a government-financed transaction. On a conference call, Dimon said the "risk here obviously is the asset values." He added: "That's what created this opportunity." Read full story...

JPMorgan expects to incur $1.5 billion of pre-tax costs, but realize an equal amount of annual savings, mostly by the end of 2010. It expects the transaction to add to earnings immediately, and increase earnings 70 cents per share by 2011. It also plans to sell $8 billion of stock, and take a $31 billion write-down for the loans it bought, representing estimated future credit losses. The FDIC said the acquisition does not cover claims of Washington Mutual equity, senior debt and subordinated debt holders. It also said the transaction will not affect its roughly $45.2 billion deposit insurance fund. "Jamie Dimon is clearly feeling that he has an opportunity to grab market share, and get it at fire-sale prices," said Matt McCormick, a portfolio manager at Bahl & Gaynor Investment Counsel in Cincinnati. "He's becoming an acquisition machine."

BAILOUT UNCERTAINTY

The transaction came as Washington wrangles over the fate of a $700 billion bailout of the financial services industry, which has been battered by mortgage defaults and tight credit conditions, and evaporating investor confidence. "It removes an uncertainty from the market," said Shane Oliver, head of investment strategy at AMP Capital in Sydney. "The problem is that markets are in a jittery stage. Washington Mutual provides another reminder how tenuous things are."

Washington Mutual's collapse is the latest of a series of takeovers and outright failures that have transformed the American financial landscape and wiped out hundreds of billions of dollars of shareholder wealth. These include the disappearance of Bear, government takeovers of mortgage companies Fannie Mae and Freddie Mac and the insurer American International Group Inc, the bankruptcy of Lehman Brothers Holdings Inc, and Bank of America's purchase of Merrill.

JPMorgan, based in New York, ended June with $1.78 trillion of assets, $722.9 billion of deposits and 3,157 branches. Washington Mutual then had 2,239 branches and 43,198 employees. It is unclear how many people will lose their jobs. Shares of Washington Mutual plunged $1.24 to 45 cents in after-hours trading after news of a JPMorgan transaction surfaced. JPMorgan shares rose $1.04 to $44.50 after hours, but before the stock offering was announced.

119-YEAR HISTORY

The transaction ends exactly 119 years of independence for Washington Mutual, whose predecessor was incorporated on September 25, 1889, "to offer its stockholders a safe and profitable vehicle for investing and lending," according to the thrift's website. This helped Seattle residents rebuild after a fire torched the city's downtown.

It also follows more than a week of sale talks in which Washington Mutual attracted interest from several suitors. These included Banco Santander SA, Citigroup Inc, HSBC Holdings Plc, Toronto-Dominion Bank and Wells Fargo & Co, as well as private equity firms Blackstone Group LP and Carlyle Group, people familiar with the situation said.

Less than three weeks ago, Washington Mutual ousted Chief Executive Kerry Killinger, who drove the thrift's growth as well as its expansion in subprime and other risky mortgages. It replaced him with Alan Fishman, the former chief executive of Brooklyn, New York's Independence Community Bank Corp. WaMu's board was surprised at the seizure, and had been working on alternatives, people familiar with the matter said. More than half of Washington Mutual's roughly $227 billion book of real estate loans was in home equity loans, and in adjustable-rate mortgages and subprime mortgages that are now considered risky. The transaction wipes out a $1.35 billion investment by David Bonderman's private equity firm TPG Inc, the lead investor in a $7 billion capital raising by the thrift in April. A TPG spokesman said the firm is "dissatisfied with the loss," but that the investment "represented a very small portion of our assets."

DIMON POUNCES

The deal is the latest ambitious move by Dimon. Once a golden child at Citigroup before his mentor Sanford "Sandy" Weill engineered his ouster in 1998, Dimon has carved for himself something of a role as a Wall Street savior. Dimon joined JPMorgan in 2004 after selling his Bank One Corp to the bank for $56.9 billion, and became chief executive at the end of 2005.

Some historians see parallels between him and the legendary financier John Pierpont Morgan, who ran J.P. Morgan & Co and was credited with intervening to end a banking panic in 1907. JPMorgan has suffered less than many rivals from the credit crisis, but has been hurt. It said on Thursday it has already taken $3 billion to $3.5 billion of write-downs this quarter on mortgages and leveraged loans.

Washington Mutual has a major presence in California and Florida, two of the states hardest hit by the housing crisis. It also has a big presence in the New York City area. The thrift lost $6.3 billion in the nine months ended June 30. "It is surprising that it has hung on for as long as it has," said Nancy Bush, an analyst at NAB Research LLC.

| NewWorldOrder | America | Economic Crisis |

UN chief calls for 'global leadership' Breitbart.com (September 23, 2008) - UN chief Ban Ki-moon on Tuesday stressed the need for "global leadership" as he pressed world leaders not to pursue narrow national interests in the face of hard economic times. "I see a danger of nations looking more inward, rather than toward a shared future," he said at the opening of the UN General Assembly's annual debate. He spoke of a "challenge of global leadership" to tackle the world's worsening financial, energy and food crises.

"We see new centers of power and leadership -- in Asia, Latin America and across the newly developed world," Ban told more than 120 heads of state or government, including Presidents George W. Bush of the United States and Nicolas Sarkozy of France. "In this new world, our challenges are increasingly those of collaboration rather than confrontation," he added. "Nations can no longer protect their interests, or advance the well-being of their people, without the partnership of the rest."

On the world's current financial crisis, the UN secretary general stressed the need to "restore order to the international financial markets". "We need a new understanding on business ethics and governance, with more compassion and less uncritical faith in the 'magic' of markets," the UN boss said.

Ban, who has chosen implementation of key poverty reduction goals as a major theme of this year's debate, said he saw "a danger of retreating from the progress we have made, particularly in the realm of development and more equitably sharing the fruits of global growth." "Global growth has raised billions of people out of poverty. However, if you are among the world's poor, you have never felt poverty so sharply."

On Thursday, he will host a summit meeting on implementation of the poverty reduction Millennium Development Goals (MDGs) on the margins of the General Assembly session. Ban said he would use Thursday's summit to press world leaders, the private sector, foundations, and civil society to make "ambitious and concrete" proposals to ensure that these goals are implemented by a 2015 deadline.

Monday, a summit meeting on Africa's development needs adopted a political declaration urging rich countries to honor their pledge to double their annual aid to the continent, which is struggling to meet the MDGs. And returning to the theme of global leadership, Ban told the assembly: "It takes leadership to honor our pledges and our promises in the face of fiscal constraints and political opposition. "It takes leadership to commit our soldiers to a cause of peace in faraway places. It takes leadership to speak out for justice. To act on climate change despite wonderful voices against you."
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Russia sends warships on military exercise in America's 'backyard' as the new Cold War intensifies Daily Mail UK (September 23, 2008) - Russian warships set off for the Caribbean yesterday for their first naval exercises on the U.S.'s doorstep since the Cold War. The vessels from the Northern Fleet, including nuclear missile cruiser the Peter the Great, left their base in Severomorsk to hold joint manoeuvres with Venezuela.

The exercises are seen as retaliation to U.S. plans to install a strategic missile shield in Poland and the Czech Republic. It is also thought to be a response to Western support for Georgia, which was invaded by Moscow last month. Last week, in a show of strength that echoed the Cold War, two Russian Tu-160 Blackjack strategic bombers flew over the Caribbean into Venezuela - a close ally of Russia. The Bush administration has accused the Kremlin of playing a 'dangerous game' by carrying out flights with strategic bombers near U.S. borders.

Igor Dygalo, an aide to the chief naval commander, said last night: 'A flotilla of Russia's Northern Fleet ships, including its flagship, the nuclear missile cruiser Peter the Great, destroyer Admiral Chabanenko and escorting ships have left Severomorsk, the Northern Fleet's base. 'As a part of this trip, Russian warships will take part in joint exercises with the Venezuelan navy.' The Admiral Chabanenko, a Russian anti-submarine destroyer, Udaloy II class, has also set sail for Latin America

Deputy Navy Commander Vice-Admiral Nikolai Karachun added: 'The ships are loaded with both training and live rounds, all is in good order and checked, the ships are technically sound, all crews are fully prepared, and spare parts are on board the warships and their escorts.'

Russia resumed strategic bomber patrol flights over the Pacific, Atlantic and Arctic oceans last August, following an order signed by then-President Vladimir Putin. Russian bombers have since carried out more than 90 strategic patrol flights and have often been escorted by Nato planes, including RAF interceptors. The flights were designed to show the once-feared Russian Military had regained its confidence and aggression since decaying in the post-Soviet era.

Military leaders in the country have also threatened to base bombers in Cuba, deliberately evoking comparisons with the 1962 Cuba missile crisis in which the USA and the Soviet Union came close to all-out war after the Red Army shipped missiles to the Caribbean island. President Hugo Chavez has embarked on a five-nation foreign tour which includes a red carpet visit to Moscow where he will be lauded for standing up the United States.

Kremlin prime minister Vladimir Putin's push to the Caribbean will act as a warning to the next U.S. president, to be elected in November, that despite the world current financial turbulence, Moscow is again a force to be reckoned with following a massive oil-fuelled economic recovery since the fall of the USSR. Military analyst Alexander Golts said: 'It's a show of the Kremlin irritation about the U.S. deployment to Georgia. It's a signal to the United States: you have broken into our zone of influence, and we will show you that we can enter yours.' He added that the small Russian squadron could not pose any threat to the United States. 'Without protection from the air, it makes a sitting duck,' he said. 'It's ridiculous to even talk about the Russian ships providing a counterweight to the U.S. Navy.' The Peter the Great is armed with SS-N-19 Shipwreck long-range anti-ship missiles. The warship will sail in an area where nine of every 14 barrels of imported oil to the US must transit.

| Gog/Magog | America |

Islam, Secularism and the Gospel The Christian Post (September 23, 2008) - While Britons may think of America as its juvenile and impetuous offspring, Great Britain has surely become our senile grandmother. Through repeated acts of self-condemnation and political correctness, the British are systematically capitulating to all things Islamic. In essence, our British forbearers are committing cultural suicide. In what may appear to be deferential considerations to their growing Muslim population, British authorities are slowly conforming to the demands of an increasingly outspoken and violent minority. Already in Britain, Muslim men with multiple wives have been given the go-ahead to claim extra welfare benefits following a year-long government review. Even though bigamy is a crime in Britain, the decision by British authorities means that polygamous marriages can now be recognized formally (not to mentioned subsidized) by the state, so long as the weddings took place in countries where the arrangement is legal. And yes, polygamy remains a norm in the Muslim world.

In another act of mindless irony, the Research, Information and Communication Unit, a division of the British Home Office, established for the purpose of countering al-Qaeda’s influence in the UK, is actually instructing civil servants not to use terms such as “Islamist extremism” or “jihadi fundamentalist.” Instead, they are to use phrases such as “violent extremism” or “criminal murderers” or “thugs” to avoid any implication that there is connection between Islam and terrorism.

Closer to home, the US government also issued guidelines earlier this year for the Department of Homeland Security suggesting such terms as “jihad” and “Islamic terrorism” not be used. (Where is the Ronald Reagan of our generation who is willing to call evil evil?)

So ridiculous have British concessions to Muslim demands become that Fortis Bank “stopped giving piggy banks to children for fear of offending Muslims,” according to The Times of London. (Pigs are an offensive, unclean animal to Muslims.) There are also accounts of Muslim nurses refusing to comply with hygiene procedures on the grounds that scrubbing requires them to bare their arms.

And this past week, Fox News reported that “Islamic law has been officially adopted in Britain, with sharia courts given powers to rule on Muslim civil cases.” According to news reports, “The government has quietly sanctioned the powers for sharia judges to rule on cases ranging from divorce and financial disputes to those involving domestic violence.” Adding that “rulings issued by a network of five sharia courts are enforceable with the full power of the judicial system…” In an astonishing statement, the Lord Chief Justice, Lord Phillips, said there was no reason why sharia law, derived from several sources including the Qur´an, could not be used for contractual agreements and marital disputes. The first question that comes to mind: How does British society plan to mitigate between the Western and Muslim views relative to the rights of women? Read full story...

The first public signs of appeasement emerged in the wake of the Ayatollah Khomeini’s fatwa (death edict) against British author Salman Rushdie in 1989. Thousands of British Muslims marched in the streets calling for Rushdie to be killed while the British authorities thought it best to “play it cool,” according to Mark Steyn, author of America Alone. Of the more than 100 demonstrators arrested for violent assaults on the police that day, all were released without charges. British non-Muslims held a (much smaller) counter-demonstration shortly thereafter to uphold the right to free speech—meaning the free speech of Salman Rushdie—only to be attacked and beaten by Muslims. Playing it cool has only emboldened Muslim radicals and the calls for blood and violence increase. Today there are sections of London in which no non-Muslim dare venture for fear of being killed.

And the same is occurring across the rest of Europe. Recall the French riots in 2005 in which thousands of young Muslims, armed with clubs and sticks and shouting, “Allah Akbar!” stormed the streets. Windows were smashed; stores looted and cars were torched. Europeans trapped by the mob were viciously attacked, and some killed. The trouble in France finally ended only when various levels of French authorities quietly accepted that there were de facto no-go areas within the country, mini-Islamistans run by the dominant local Muslim majority. Shortly after, riots in Denmark featured Muslims taunting authorities, saying, “This territory belongs to Islam; you don’t belong here.” In a growing number of Western European nations there are now territories that have been effectively occupied by Islamic fundamentalists determined to subdue their host countries.

Iman Abdelali Hamdoune revealed the goal of Islam when he urged the Muslim faithful: Do not permit your children to follow the example of the French. They should comport themselves in a totally different manner than the French. Here in France we have to impose ourselves, and impose Islam.

Recently, the United Nations General Assembly began considering a resolution sponsored by the 57-nation Organization of the Islamic Conference (OIC) under the altruistic title of “Combating Defamation of Religion.” Supporters claim its goal is to stamp out “incitement to religious hatred, against Islam and Muslims in particular.” Of course, Muslims are at liberty to incite hatred and violence against other religions and infidels. Felice Gaer, chairman of the U.S.

Commission on International Religious Freedom, a bipartisan federal body, says it’s clear that the OIC countries are attempting to “mainstream” prohibitions on any speech that could be considered critical of Islam. So when Muslims take to the streets with signs reading BEHEAD THOSE WHO INSULT ISLAM, it would be insensitive of us to suggest that perhaps Islam is a factor in breeding violence. Hmm?

Next week I will explore the philosophical preconditions that have rendered Europe so impotent in its response to radical Islam, demonstrating that these same conditions are emerging within our own society. In short, there are three worldviews today that are contending to “narrate the world” (in the words of theologian Robert Webber)—Christianity, secular humanism, and Islam.

I will argue that the American church, in its present state, will not be able to counter the Islamic effort to narrate the world until it is liberated from its own cultural captivity. American evangelicalism, with its emphasis on personal experience and therapy, has produced a narcissistic faith that centers on self rather than Christ and the redemptive mission of God—and this has rendered the Christian story of the world shallow and irrelevant.

| Islam | EU/UN / 4th Kingdom | America |

One of the reasons I believe there may be a connection with the false prophet of Bible prophecy and the 12th Mahdi, is the coincidence of beheading prevalent in both prophecy of the time of great tribulation and Islam. I don't believe the Islam under the man of sin will be quite what it is today, but I also believe that a man from the earth (or a well) to whom Islam looks up to as a prophet could be very influential when calling fire from heaven and such to lead Islam to the "right path" and direct them to worship this man of sin. Also keep in mind that it is possible that all this will happen after the Ezekiel 38,39 prophecies are fulfilled, which would also help temporarily quiet Islam in preparation for the appearance of the 12th Mahdi. In this way, Islam would be moved under the authority of the man of sin and utilized with its global nature and similar hatred of Israel and Christians. Also remember that Islam plans to take over the world for Allah, what if they are led and convinced to accept that the antichrist's rule is that fulfillment? Am I right? I don't know, it's just the conclusions I've come to from my personal studies and watching things unfold. At any rate, keep watching.

US banks make shock status switch BBC News (September 22, 2008) - The last two major investment banks in the US have changed their status to become bank holding companies, allowing them to take deposits from investors. The changes should enable Goldman Sachs and Morgan Stanley to raise more funds by opening commercial banks. The move - part of a huge restructuring effort on Wall Street - will also give them access to Federal Reserve support.

The US government has announced a $700bn (£382bn) package to tackle the worst financial crisis for decades. Congress is considering the plan, drawn up by Treasury Secretary Henry Paulson, which would set up a fund to buy up much of the bad debt held by financial institutions, which had triggered the credit crisis.

The BBC's business editor Robert Peston said transforming these investment giants into licensed, deposit-taking banks marked the end of an era for Wall Street. "Now that the US taxpayer is in a formal sense underwriting Goldman and Morgan Stanley, their days of buckling the swash on the worldwide high seas of finance are over, possibly for good."

'Greater safety'

There had been fears, given the recent turbulence in the financial markets, that Morgan Stanley and Goldman Sachs would not be able to survive as independent players, and both their share prices have come under pressure. Both banks had filed requests with the Federal Reserve to change their status, and late on Sunday, the Fed announced it had granted the requests.

The last few weeks have seen dramatic and unexpected changes among banks, with Merrill Lynch being bought by Bank of America and Lehman Brothers filing for bankruptcy protection. Earlier this year, Bear Stearns was acquired by JP Morgan Chase. Read full story...

Flexibility and stability

Goldman Sachs said it already had two existing deposit businesses, Goldman Sachs Bank USA and Goldman Sachs Bank Europe, into which it is transferring assets from other parts of the business. "With over $150bn in assets, GS Bank USA will be one of the 10 largest banks in the US," the bank said. "We intend to grow our deposit base through acquisitions and organically," it added.

Commenting on the change for Morgan Stanley and Goldman Sachs, Chip MacDonald, mergers partner at law firm Jones Day, said: "It creates a perception of greater safety and supervision. It really rationalises the regulatory system". "It should be good for both Goldman Sachs and Morgan Stanley." Goldman Sachs said it decided to be regulated by the Federal because it "provides its members with full prudential supervision and access to permanent liquidity and funding".

John Mack, chairman and chief executive officer of Morgan Stanley, said: "This new bank holding structure will ensure that Morgan Stanley is in the strongest possible position - with the stability and flexibility to seize opportunities in the rapidly changing financial marketplace." "It also offers the marketplace certainty about the strength of our financial position and our access to funding."

Solution sought

Mr Paulson has urged other countries to follow the American example in dealing with the international financial crisis. Both presidential candidates have been having their say about the financial crisis. Republican John McCain said President George W Bush should take the blame for the crisis along with both parties in Congress. Mr McCain said he was enraged by the greed of Wall Street speculators and said the rescue plan should be funded by cutting government waste, rather than through taxation.

Meanwhile Democrat presidential candidate Barack Obama suggested Mr Paulson could be asked to play a role in his administration should he win the presidency. But Mr Obama criticised the bail-out proposal, calling for independent supervision of its implementation.

| America | Economic Crisis |

The coming 1-world currency WorldNet Daily (September 21, 2008) - On Wednesday, finance chiefs of five of the six-member, oil-rich Gulf Cooperation Council approved a proposal to create a monetary union as a move toward adopting a single currency, according to the AFP. The six Islamic states constituting the Gulf Cooperation Council are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Oman pulled out of the agreement last year. Five states in the compact have agreed to set 2010 as the target date for the creation of a monetary union and the adoption of common currency.

The emergence of an Islamic single currency among these oil-rich Middle Eastern countries marks a significant step in the emerging worldwide movement to abandon national currencies in favor of regional currencies, along the model where the EU states have abandoned their national currencies in favor of the European Central Bank and the euro.

In 2002, the finance ministers of the Gulf Cooperation Council states sought out the assistance of the European Central Bank, as the model for their single currency, according to BBC reports. The council was created in 1981 to promote the development of the member countries. The monetary union will entail the creation of a central bank to issue the single currency.

At the Wednesday meeting in the Saudi Red Sea city of Jeddah, the finance and economy ministers reviewed the European Union's response to the council's view on eliminating obstacles that have blocked a long-stalled free trade agreement with the EU. Progress was also made on key convergence factors required to underpin the common currency, including setting the ratio of budget deficit and public debt to the gross domestic product, target interest rates and reserve requirements. Progress yet remains in reaching a consensus on inflation, the last remaining stumbling block to creating the common currency.

International Monetary Fund Chief Dominique Strauss-Kahn, who met with the Gulf Cooperation Council finance ministers in Jeddah, hailed the move by the Gulf states toward economic integration, though he continued to express doubts the single currency would be adopted within two years.

"Achieving monetary union by 2010 will be a major challenge, as much remains to be done to enable the creation of a single currency within two years," Straus-Kahn. "Overcoming the current inflationary pressures, developing a clear vision of the powers of the future common central bank, choosing an exchange regime of the common currency, and harmonizing financial regulations and structures will be critical in this process." One factor easing the transition toward a single currency is that the six Gulf Cooperation Council member states all currently peg their currencies to the U.S. dollar.

For more on how globalists are pushing regional currencies toward a one-world currency, read Jerome Corsi's Red Alert, the premium, online intelligence news source by  the WND staff writer, columnist and author of the New York Times No. 1 best-seller, "The Obama Nation."
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

Government rushing to finish huge financial rescue plan Associated Press (September 19, 2008) - The Bush administration sketched out a multi-faceted effort on Friday to confront the worst U.S. financial crisis in decades, outlining a program that could cost taxpayers hundreds of billions of dollars to buy up bad mortgages and other toxic debt. Relief washed over Wall Street with a surge of buying.

President Bush, flanked by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, acknowledged that the program will put a "significant amount of taxpayers' money on the line."

Markets unhinged by anxiety in recent months greeted the plan enthusiastically. The Dow Jones industrials shot up over 400 points and stayed in that territory into the afternoon. Global stock markets soared, too.

The administration is asking Congress to give it sweeping new powers to execute the plan. Paulson said it "needs to be big enough to make a real difference and get to the heart of the problem."

Paulson gave few details but said he would work through the weekend with leaders of Congress from both parties to flesh out the program, the biggest proposed government intervention in financial markets since the Great Depression. Members of the Senate Banking Committee said they had yet to receive details of the proposal, but were ready to move quickly when they do. Read full story...

Before the markets opened Friday, the government announced plans to temporarily insure money-market deposits and to block short-selling in financial securities. Short selling is a trading method that bets the stocks will go down.

Speaking to reporters at the Treasury Department, Paulson said that the new troubled-asset relief program that he wants Congress to enact must be large enough to have the necessary impact while protecting taxpayers as much as possible.

"I am convinced that this bold approach will cost American families far less than the alternative — a continuing series of financial institution failures and frozen credit markets unable to fund economic expansion," Paulson said in a prepared statement. "The financial security of all Americans ... depends on our ability to restore our financial institutions to a sound footing," he said.

Paulson said mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market. He also said the Treasury Department will expand a program, announced earlier this month, to buy mortgage-backed securities, which have been badly hurt by the housing and credit crises. "As we all know, lax lending practices earlier this decade led to irresponsible lending and irresponsible borrowing. This simply put too many families into mortgages they could not afford," Paulson said.

At a news conference in which he only took three questions, Paulson was asked the approximate dollar size of the government intervention. "We're talking hundreds of billions," he said. Paulson did not address specifics about the plan to buy back bad debt or whether the government would take a direct stake in troubled banks in exchange for its help. "These illiquid assets are clogging up our financial system, and undermining the strength of our otherwise sound financial institutions. As a result, Americans' personal savings are threatened, and the ability of consumers and businesses to borrow and finance spending, investment, and job creation has been disrupted," Paulson said.

He said that the administration would present Congress with a proposed legislative package and then work with lawmakers "to flesh out the details through the weekend. And we're going to be asking them to take action on legislation next week." "This is what we need to do. Because for some time we've been saying that the root cause of the problems in our economy and our financial system is housing, and until we get stability in the housing market we are not going to get stability in our financial markets," he said.

Earlier, Bush authorized Treasury to tap up to $50 billion from a Depression-era fund to insure the holdings of eligible money market mutual funds. And the Federal Reserve announced it will expand its emergency lending program to help support the $2 trillion in assets of the funds. Both moves are designed to bolster the huge money market mutual fund industry, which has come under stress in recent days.

The Fed said it is expanding its emergency lending efforts to allow commercial banks to finance purchases of asset-backed paper from money market funds, which should help the funds meet demands for redemptions.

The Securities and Exchange Commission early Friday imposed a temporary emergency ban on short-selling, which had been contributing to the collapse of stock values of investment and commercial banks.

Congressional leaders said they expected to get the rescue plan Friday and act on it before Congress recesses for the election. The government's actions could help alleviate the uncertainty that has been sending the markets into tumult over the past week. Lending has come to a virtual standstill in the wake of the bankruptcy of Lehman Brothers Holdings Inc.

European Central Bank, Swiss National Bank and Bank of England also offered up more cash Friday. The three banks put a combined $90 billion into money markets in a lockstep move.

The chairman of the Senate Banking Committee, Chris Dodd, D-Conn., warned on ABC's "Good Morning America" Friday that the United States could be "days away from a complete meltdown of our financial system" and said Congress would work quickly to prevent that.

Later Dodd told reporters that the government's rescue plan will be costly, and demanded more details. "We're anxious to hear the specifics. None of us have any idea what the details are. We understand the gravity of the moment," he said. predicted the new bailout plan would cost at least half a trillion dollars.

Paulson said he wanted action next week by Congress. "Time is of the essence," House Speaker Nancy Pelosi, D-Calif., said Thursday night after being briefed by Paulson and Bernanke. Rep. Roy Blunt, the No. 2 GOP leader in the House, suggested the rescue can be handled without a tax increase. "It doesn't necessarily have to be something that impacts taxpayers in a negative way," said Blunt, R-Mo. "It all depends on how you put that structure together."

GOP presidential candidate John McCain said any action should "be designed to keep people in their homes and safeguard the life savings of all Americans." Democratic rival Barack Obama said it is critical that leaders in both parties work in concert. "Truly we are all in this together," he said. The federal government already has pledged more than $600 billion in the past year to bail out, or help bail out, some of the biggest names in American finance.

| NewWorldOrder | America | Economic Crisis |

The words "government," "rush," "financial" and "sweeping new powers" are not key words I want to hear, but from the response in the stock market and from several commentators I've heard, its the "best thing" for right now. In other words the alternative is worse, so we're ok with the lesser of two evils. And where are we getting all this money as we are so deep in debt? Get some more historical background on our current financial system here, here, here and here. I have a feeling that these increase governmental controls and "sweeping new powers" are going to lead to the end scripture speaks of such that we will be beholden to the government who in turn will be beholden to the financial rescue of the central banks who ultimately are working to bring about the New World Order and hand over their power to the man of sin. One thing to remember, you can't serve God and mammon (money) and in the end, those who rely on the temporal escape by man's government via the mark of the beast will lose eternal life in God's presence. Revelation 14:9-12 Perhaps you don't think this will happen in your lifetime... perhaps you're right, maybe you're wrong. Either way, keep watching!

China Paper Urges New Currency Order After "Financial Tsunami" Reuters (September 17, 2008) - Threatened by a "financial tsunami," the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday. The commentary in the overseas edition of the People's Daily said the collapse of Lehman Brothers Holdings Inc "may augur an even larger impending global 'financial tsunami'."

The People's Daily is the official newspaper of China's ruling Communist Party, and the overseas edition is a smaller circulation offshoot of the main paper. Its pronouncements do not necessarily directly reflect leadership views, but this commentary by a professor at Shanghai's Tongji University suggested considerable official alarm at the strains buckling world financial markets.

China's central bank earlier this week cut its lending rate for the first time in six years, a move analysts said was aimed at bolstering the economy and the battered stock market. "The eruption of the U.S. sub-prime crisis has exposed massive loopholes in the United States' financial oversight and supervision," writes the commentator, Shi Jianxun. "The world urgently needs to create a diversified currency and financial system and fair and just financial order that is not dependent on the United States."

But Vice Premier Wang Qishan, on a visit to the United States, told U.S. trade officials in a meeting on Tuesday that China and the United States needed to maintain close economic ties with global markets going through such turbulence. "The Chinese government is well aware of the fact that the United States, which is the world's largest developed country, and China, which is the world's largest developing country, should have constructive and cooperative economic and trade relations," he said.

China is a major buyer of U.S. Treasury bonds, and through its sovereign wealth fund it has taken stakes in two large U.S. financial institutions. In July 2005, China revalued the yuan and freed it from a dollar peg to float within managed bands. But the yuan and China's trade remains tightly linked to the fortunes of the dollar.

The commentary suggested China must brace for grave economic fallout and look to alternatives, saying the crisis brings to mind the Great Depression of the 1930s. "Lehman Brothers announced bankruptcy will not only have a domino effect on the global financial world, it will bring a shock to the world economy," the front-page comment stated.
| NewWorldOrder | America | Economic Crisis |

US government rescues insurer AIG BBC (September 17, 2008) - The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy. AIG will get an $85bn loan, in return for an 80% public stake in the firm. The rescue follows the collapse of US investment giant Lehman Brothers, which caused share prices to plummet across the world's financial markets. Authorities are hoping the bail-out will avert the threat of a global financial meltdown. The Fed's move is viewed by some as the most radical intervention in private business in its history and has helped fuel a tentative rally on global stock markets. The past few days have seen dramatic events unfold in the financial world:

• The UK's top mortgage lender HBOS is in merger talks with Lloyds TSB after a steep fall in HBOS shares
• The Fed and the US Treasury say AIG's bailout will protect the interests of US taxpayers
• US interest rates have been kept on hold despite widespread calls for a cut
• Barclays says it is buying some of the core assets of US investment bank Lehman Brothers for $1.75bn (£1bn)

'Challenging times'

The Federal Reserve made its decision about AIG "with the full support of the Treasury Department", it said in a statement, adding that the secured loan included conditions designed to protect "the interests of the US government and taxpayers". The US Treasury Secretary Henry Paulson refused to bail out America's fourth-largest investment bank Lehman Brothers after it filed for bankruptcy protection on Monday. But he supported the rescue of AIG and said the move would protect taxpayers. "These are challenging times for our financial markets," he said.

The rescue of AIG - which has a trillion dollars in assets and insures bank loans around the world - helped world stock markets rally. Wednesday trading saw gains in Tokyo, Taiwan, Singapore and Seoul, though prices in Hong Kong, Shanghai and Australia fell. European markets were higher, but trading was volatile. The dollar also rose against major currencies. Read full story

AIG's 'tentacles'

Analysts said the demise of AIG - which has policy holders in more than 100 countries and insures deals and investments across the globe - would have had a far greater impact on financial markets than Lehman's collapse. Were the company to fail, many banks and investment funds around the world would lose their insurance cover at a time when defaults on payments are likely to rise.

The Governor of New York, David Paterson, said AIG had so many business interests it would be hard to predict how widespread its bankruptcy would have been felt.

"Its tentacles go further in to the avenues of business, as in mortgages, as in credit, as in hedge funds, as in countless ways that affect consumers, that affect drivers, that affect homeowners, affect passengers," he said.

AIG had posted losses in each of the last nine months. It was badly affected by the collapse of the US housing market, says the BBC's business reporter Rob Young, owing to the underwriting payments it was forced to make when customers defaulted on their loans.

Market slump

The AIG plan calls for the government to seize up to 80% of the company and remove its management, in a similar fashion to the way it took control of mortgage giants Fannie Mae and Freddie Mac which were crippled by the US housing crisis. The White House welcomed the package, saying the deal was made "in the interest of promoting stability in financial markets and limiting damage to the broader economy". Meanwhile, the Fed has left interest rates unchanged at 2% despite calls for a cut. The BBC's Matthew Price in New York said the bank had decided an interest rate cut would not help to alleviate the short-term financial crisis.

On Wall Street, the Dow Jones rallied on Tuesday, closing 141 points higher having on Monday suffered its worst day's trading since the September 2001 attacks on the US.

Central banks around the world responded by carrying out emergency measures to keep markets liquid. The extra funding came as the interest rates at which banks lend to each other rocketed - as they did at the start of the credit crunch.

| America | Economic Crisis |

More... AIG bailed out, more havoc likely, experts say Newsday (September 17, 2008)

Glenn Beck: Congrats! Glenn Beck (September 17, 2008)

New Wall Street crisis will create a new financial world order, says RCM CIO City Wire UK (September 16, 2008) - As the sell-off in global markets continues, RCM's CIO for Europe Neil Dwane believes the aftermath of Monday's events will lead to the formation of a 'new world order', in which the remaining financial giants will flourish.

'Merrills rushed into the arms of Bank of America (BoA) who last night shut down its investment banking operations admitting failure. Surely BoA will not indulge Merrills' investment banking operations anywhere near to the extent that the old Merrills' management had done?' Dwane asks. Dwane believes the key implication of the Fed's decision not to facilitate the sale of Lehmans Brothers is that it shows that capacity is being removed from the markets, alongside the clear message that 'policy will not bail out all investors and losers'.

'Moral hazard is back and negligent Boards will find there to be no willing supplier of capital except on very onerous terms. The key messages of this weekend remain that capital remains scarce, leverage and accounting for the leveraged assets remains incomplete and inconsistent and a New World order is being born where financial behemoths are best placed,' he says.

One of the key features of this 'New World order' will be increased regulation, transparency and risk control, according to Dwane. However, the CIO of the equity specialist of Allianz Global Investors is anxious that 'investors remain complacent over the changes to come and the lower returns and earnings power of the sector in the future'.
| NewWorldOrder | America | Economic Crisis |

Draghi: Deeper Crisis Would Call for Global Solution Doug McIntosh (September 16, 2008) - National solutions have been enough to stem the financial-sector crisis so far, ECB Governing Council member Mario Draghi said in a Berlin speech Thursday, but they may not be enough if things get worse. “Policies are taking a variety of shapes that can be grouped within two broad categories: emergency and structural responses,” said Mr. Draghi, who also heads Italy’s central bank. “Until now, the first remained typically national since each crisis was unique to the financial structure of the country and so were the remedies. However, if the crisis were to become systemic - and the past weekend has shown just how sudden and dramatic the turn of events can be — I believe that an internationally coordinated effort will be necessary.”

Mr. Draghi’s words have international heft, since he chairs the Financial Stability Forum — a group of global regulators and central bankers working on solutions for preventing the next blowup. He indicated the framework of the global financial system is undergoing a gut check: “A resilient infrastructure is one that is capable of withstanding the effects of the failure of a large financial institution. As we speak, this objective is being tested by reality.”

Overall, he said, the global banking system has enough capital to meet its needs “under reasonable scenarios.” He offered no prediction about whether market conditions would continue to be “reasonable” but did say banks will need to raise “at least once again the amount of capital raised since the crisis began.” Mr. Draghi’s estimate of that amount, according to a person familiar with the matter, is $350 billion. Some banks will have an easier time of it than others - namely those “that ran the debt-financed, highly leveraged and maturity mismatched business model that provided steady fee income over the last several years.” –Joellen Perry
| NewWorldOrder | America | Economic Crisis |

A Trillion Here; A Trillion There Doug McIntosh (September 16, 2008) - It was Everett Dirksen, a politician from Illinois a few decades back who once said of government spending, " A billion here and a billion there, pretty soon you are really talking some money." This was in the 1970's, when a billion still meant something. It was in 1969 I think when the entire US government spending was $100 billion dollars and we were howling about an inflation rate of 3%. The good ole days to be sure.

Now we are dealing with nothing less than systemic collapse. I have been watching the news media coverage of the "situation on Wall Street." We do not have a situation here: we have the phased collapse of the American economy. When you find out Jeb Bush is a "consultant" for Lehman Brothers; when you hear McCain call for a "9-11 type commission to investigate Wall Street" you know the fix is in. It was the Bushes who destroyed the Savings and Loan industry, along with the Democrat St. Germaine, who raised the insurance coverage to $100,000. For me, there is a very clear trail of cookie crumbs in this so called "crisis." It is a planned crisis.

While watching PBS and its "Nightly Business Report" last night I was struck by how clueless these people really are. They simply don't have the capacity to understand what is going on. It is like my old 386 computer with its 4 Megabytes of RAM trying to run too many software programs at the same time: overload city. The mainstream simply doesn't have the mental ability to deal with what is happening right now in the economic sphere. The reason for that is simple: it isn't in their script. Of course, for someone of my impeccable doom and gloom credentials, I am not in the least surprised, amazed, or even stressed. After writing for over a decade on the open corruption of the "system", I may be many things, angry and appalled for instance, but not surprised or stunned. The New World Order is nothing if not consistent.

The reason for the current stock market meltdowns, the meltdowns being global and plural, is simple: the system is corrupt. It is pathetic to watch McCain call for investigations, or others for new regulations. One of the major reasons for this is because Congress repealed the Glass/Seagall? act from the Great Depression a few years back. There are specific actions taken, laws repealed for instance, that have directly resulted in the current "crisis." Specific people, regulators, politicians, economic experts and media whores have taken specific actions, and not taken specific actions, which have led to the current situation. I don't see any indication of any Congressperson or Senate person being indicted for Treason and tried for their vote repealing Glass/Seagall for instance. Nor will there ever be. This is also the way the NWO works. No accountability at all. Never has been and never will be. The insolence of the elite is well justified.

The headlines are screaming the ratings agencies just downgraded AIG, the insurance blob. I am so glad the ratings agencies decided to do their jobs. It is upon the politicians, the media, the ratings agencies the fake appraisals, the liar loans and all the other root causes of the current crisis may be laid. We do not need new government regulations; what we need is a system where corruption is punished and not rewarded. What we need is consequences and not bailouts. What we need is truth and not lies. But, it doesn't matter now. The fix is in. Read full story...

The other television show I watched last night was also PBS, "The Leher news hour." The segment had the famous Roubini, who is the closest thing to a doomer in the mainstream, as well as a former head of the IMF, the international monetary fund. The IMF being one of the biggest terror groups on this planet. The economic misery the IMF has caused is beyond description. After listening to Mr. Roubini's rather dismal views, doomer lite I call it, the knives came out. This former IMF guy gave the NWO plan right out there in plain view. Paraphrasing here, "Eventually, the US taxpayer will have to foot the bill." Yep, foot the bill for what now? All 5.5 TRILLION of Fannie and Freddie mortgages; all the rest. The NWO plan is to set up another savings and loan bailout system, resolution trust is what I think it was called, and stick it to the American taxpayer. So, because the NWO runs things; because the regulators, the courts, the politicians, the media and the court economists have been bought off and the "capitalists" have raped, looted and pillaged their way to vast wealth, we the American taxpayer get to clean up the mess. Like I said, the NWO is consistent. Trapped in a rut really. Take one greedy, insolent elite. Add a corrupt bought off system. Stir in vast amounts of money. Shake, rattle and roll until you get a frothy mixture of stupidity and excess. Then wait for the inevitable meltdown. Declare a crisis and when it gets bad enough use that crisis to advance NWO political agenda towards dictatorship and even more wealth concentration. Did I leave anything out?

Except this time the NWO has miscalculated, very, very badly. For one thing, our insolent elite hasn't factored in the chaos theory, or random events, or even the other NWO groups. Whether you think the hurricanes, Gustav, Fay and IKE were random events, or whether you think they are part of a larger weather manipulation effort intended to destroy the USA, it is clear to me the NWO didn't factor them in. And because they didn't do that, they have got a massive synergistic effect. This being the 2 plus 2 equals 16 and not four effect. As the USA heads into mid September we have not only bona fide economic crisis's in our stock markets, real estate, local and state governments and energy sectors, we have the physical destruction of a large swath of Texas.

I will make it plain for you. The damage from IKE was much more than the lying media and government has told you. At best, it will take 2 weeks to get the refineries on line. The main pipelines, like Colonial for instance, are shut down for lack of refined product. It takes 18 days to get oil pumped from Texas or the Gulf to New Jersey over these pipelines. My math tells me this is five weeks at a minimum before New Jersey starts to get heating oil deliveries. By the way, AIG, the imploding insurer, is a major insurer of oil refineries I hear. Figure it out yourself.

| NewWorldOrder | America | Economic Crisis |

I differ slightly from Doug's perspective in that I believe the mystery of iniquity at work today is indeed pushing the New World Order agenda, but to the end that a whole new global cashless system will have to be implemented and will be done centered in Europe. According to Bible prophecy, this will be the center of the New World Order and in order to participate in this new economic system that will bail out the current failing one, each person must pledge allegiance to the man of sin and receive his mark on the forehead or hand. (More on the mark of the beast and the current technology that could bring it here.) I believe everything is in place to support this system within a short period of time if not completely now thanks to the credit card companies and RFID tattoo ink. Who exactly is behind what is happening isn't what's most important, rather getting in right relationship with the only One who can save us from what is coming and bring us into eternal relationship with Him. Yeshua will judge what is happening now and knows exactly who it is. While we may watch and see, I prefer to leave the judging to Him and keep watching His Word come to pass.

Financial Crisis in America Threatens Israel's Stability Israel National News (September 15, 2008) - The venerated securities firm of Lehman Brothers Holdings Inc. announced early Monday morning on its website it will file for Chapter 11 bankruptcy protection, stunning Wall Street and rattling financial markets around the world. Not least among them was the Tel Aviv Stock Exchange, which opened with sharp losses as it echoed the news.

Lehman was one of the first international investment banks to open its doors in the State of Israel, and businesses across the country are going to be affected by what is taking place on Wall Street. Lehman has invested in numerous institutions in Israel, among them Bank Leumi, Psagot, the Clal group, Menorah and Harel Financial Services. All told, Lehman Brothers Inc. has invested more than NIS 850 million in Israeli institutions.

The company’s stock, which provides investment banking services to corporations, institutions, high-net worth individuals, municipalities and governments around the world, dropped by 93.88 percent since the beginning of this year, trading at $3.65 per share at the end of the day on Friday. Although one of the smallest of Wall Street’s major players, with only 25,000 employees, Lehman Brothers has been a heavy hitter in the mortgage market. The renowned investment bank began its most recent descent in the morass of the mortgage market crisis in the summer of 2007. Lehman Brothers reported in June a second-quarter loss of $2.8 billion, far greater than had been expected by analysts and the harbinger of a general malaise in the market.

In September, the US government announced its takeover of the Fannie Mae and Freddie Mac mortgage finance companies, and two days later, Lehman Brothers announced its next expected loss of $3.9 billion. It said it spinning off its commercial real estate holdings into a new public company.

Not far behind Monday’s morning’s blues was the gloom predicted by financial experts who eyed the next possible crash, that of major US insurance company, American International Group A.I.G. The New York Times reported Monday that the insurance giant has asked for a $40 billion loan from the Federal Reserve to pull it through the current crisis; without that crucial support, the newspaper reports, the company might not survive. A.I.G. provides insurance products – including general and life insurance as well as retirement services, financial services and asset management to individuals and businesses throughout the United States and abroad. Read full story...

As with Lehman, the government has refused to provide a financial guarantee for purchases of subsidiaries of the firm by other companies, thus making the deal much less attractive to potential bidders. Ratings agencies have threatened to downgrade the insurance giant’s credit score on Monday if it does not raise the $40 billion by the end of the day.

A.I.G. maintains a large presence in the State of Israel, offering mutual funds, retirement services and a wide array of insurance products for individuals and businesses. The company’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.

A.I.G. officials in Israel said its operations would not be directly affected because it operates relatively independent of the parent company. Nonetheless, the shakiness of the political situation has raised eyebrows at the Standard & Poor financial assessment firm, which is studying whether to downgrade Israel's debt rating as fears of a recession continue to mount.

Another major New York securities firm, Merrill Lynch agreed Sunday to sell itself to the Bank of America for approximately $50 billion in a last-ditch attempt to save itself from the same kind of financial crisis that just sank its competitor. Merrill Lynch, with 60,000 employees, is actually comprised of two companies, a wealth management company and a bond trading firm. It is one of the largest firms in the financial services industry, run by some 17,000 brokers who manage the portfolios of its hundreds of thousands of high-net clients.

As with Lehman Brothers, the crash of the housing market and the rise in foreclosures has taken its toll, eating away at the value in high-risk, high-return securities backed by subprime home mortgages. However, unlike Lehman, Merrill Lynch is also a household name in smaller markets across America as well, making it a more likely candidate to be tossed a lifeline by the Bank of America. Most of Lehman’s clients were major institutions. The new conglomerate formed by the marriage of Bank of America’s “wealth advisers” and Merrill Lynch’s brokers will be called Merrill Lynch Wealth Management. The deal brings the bank to the top of the brokerage houses and consumer banking franchises.

For Lehman Brothers, the end came when the government refused to absorb any of its losses on some of its trouble real estate assets, as it had in the past with other firms that went belly-up. The law firm of Weil, Gotshal & Manges has been retained to manage the bankruptcy proceedings and liquidation, an ignominious end for so prestigious a firm.

| Israel | America | Economic Crisis |

See also: How the Masters of the Universe ran amok and cost us the earth The Scotsman (September 16, 2008)

US faces the F-16s it supplied Pakistan The Times of India (September 14, 2008) - The United States is suddenly faced with the uncomfortable scenario of confronting the very same weapons and military hardware, including F-16 fighter jets, it has armed Pakistan with for decades. The unsavoury prospect of having to take a crack at the its one-time ally has surfaced most starkly in the skies over the Afghan-Pakistan border this weekend after the Pakistan Air Force deployed its US-supplied F-16s to challenge the violation of its airspace by US drones, and in one case, an airborne assault that landed US Navy Seals inside Pakistani territory.

The turnaround of Pakistan from an ally to a potential enemy has alarmed lawmakers, some of whom are now questioning the continued supply of arms to Islamabad. On Tuesday, a Democrat-controlled House Foreign Relations panel has scheduled a hearing whose snarky title -- ''Defeating al-Qaida's Air Force: Pakistan's F-16 Program in the Fight Against Terrorism'' == betrays the unease over the Bush Administration’s relentless arming of Pakistan. Al-Qaida has no known air force.

Some lawmakers and analysts have long questioned the need for Washington to arm Pakistan with sophisticated fighter jets to counter Al-Qaida’s and Taliban’s diffused militants, many of whom are in Pakistan’s towns and cities and are patronised by Islamabad’s intelligence agencies. ''The panel will look at how the F-16 program fits into the broader US strategy in the fight against terrorism as well as into the overall US relationship with Pakistan,'' a notification from the sub-committee read.

The House sub-committee is lead by Gary Ackerman, a known critic of the administration’s relentless pandering of Pakistan with military supplies. He and other lawmakers have questioned the administration’s recent decisions to provide funding for mid-life upgrades to F-16s, especially after government audits said Pakistan has been using US military aid to bulk up its forces against India rather than use it for counterterrorism.

In July, the Bush administration sought to shift $226.5 million in US counterterrorism aid for the F-16 upgrades. Ackerman said the subcommittee will seek witness testimony about the ''complete scope of the F-16 program with Pakistan including the number of planes, updates made to existing planes, proposed armaments, schedule of delivery and source of payment.''

In addition, because Congress has previously provided Pakistan with significant amounts of Foreign Military Financing (FMF) for counterterrorism and law enforcement activities against al-Qaida and the Taliban, the subcommittee will seek testimony on how these planes contribute to Pakistan’s efforts in the fight against terrorism and extremism, and how the use of additional FMF to pay for mid-life updates to Pakistan’s existing F-16 fleet enhances those efforts. The subcommittee is also expected to examine what counterterrorism equipment or programs were foregone as a result of the July 16, 2008, reprogramming request.

Fearful of a Congressional squeeze on further F-16 supplies and upgrades, an unnamed senior Pakistani official in Washington briefed US and Pakistani journalists on Friday on the central role the jets were playing in the war on terror. Pakistan, he said, has flown nearly 100 missions during three weeks in August that produced some 500-550 Taliban casualties. But the PAF needed night-flying capability because the militants were regrouping in the night.

There is a great deal of skepticism about Pakistan using F-16s against militants, and the body count it keeps producing. Several accounts from the region describe friendly, fraternal ties between the Pakistani military and Taliban fighters.

On Sunday, the Pakistani media reported tribal sources as saying a PAF jets were seen patrolling the skies on the country’s western borders with Afghanistan in the afternoon, soon after a US predator was seen flying in the area. ''Neither the CIA-operated Predator nor the Pakistani jet fighter took any offensive action as the two planes didn’t encounter each other,'' a report in the Pakistani newspaper The News, said. Pakistan’s army chief Pervez Kiyani has vowed to defend the country against US incursions ''at all costs.''

| America |

Drugs Affect More Drinking Water Associated Press (September 12, 2008) - Testing prompted by an Associated Press story that revealed trace amounts of pharmaceuticals in drinking water supplies has shown that more Americans are affected by the problem than previously thought — at least 46 million. That's up from 41 million people reported by the AP in March as part of an investigation into the presence of pharmaceuticals in the nation's waterways. The AP stories prompted federal and local legislative hearings, brought about calls for mandatory testing and disclosure, and led officials in at least 27 additional metropolitan areas to analyze their drinking water. Positive tests were reported in 17 cases, including Reno, Nev., Savannah, Ga., Colorado Springs, Colo., and Huntsville, Ala. Results are pending in three others. The test results, added to data from communities and water utilities that bowed to pressure to disclose earlier test results, produce the new total of Americans known to be exposed to drug-contaminated drinking water supplies. The overwhelming majority of U.S. cities have not tested drinking water while eight cities — including Boston, Phoenix and Seattle — were relieved that tests showed no detections. "We didn't think we'd find anything because our water comes from a pristine source, but after the AP stories we wanted to make sure and reassure our customers," said Andy Ryan, spokesman for Seattle Public Utilities. The substances detected in the latest tests mirrored those cited in the earlier AP report. Chicago, for example, found a cholesterol medication and a nicotine derivative. Many cities found the anti-convulsant carbamazepine. Officials in one of those communities, Colorado Springs, say they detected five pharmaceuticals in all, including a tranquilizer and a hormone. "This is obviously an emerging issue and after the AP stories came out we felt it was the responsible thing for us to do, as a utility, to find out where we stand. We believe that at these levels, based on current science, that the water is completely safe for our customers," said Colorado Springs spokesman Steve Berry. "We don't want to create unnecessary alarm, but at the same time we have a responsibility as a municipal utility to communicate with our customers and let them know." more...
| America |

Venezuela joins Bolivia and expels U.S. ambassador CBC News (September 11, 2008) - Venezuelan President Hugo Chavez has announced that the U.S. ambassador has 72 hours to leave Venezuela and he's recalling his ambassador from Washington. Chavez said he's asking U.S. Ambassador Patrick Duddy to leave as a means of showing solidarity with Bolivian President Evo Morales, who recently announced that he was expelling Washington's envoy to his country. Chavez announced the decision during a televised speech, hours after saying his government had detained a group of alleged conspirators in a plot to overthrow him. Chavez accused the group of current and former military officers of trying to assassinate him and topple the government with support from the United States. He didn't offer evidence. U.S. officials have repeatedly denied Chavez's accusations that Washington has backed plots against him. Bolivia's ambassador to the United States, Gustavo Guzman, was called to the U.S. State Department earlier Thursday and ordered to leave the country to reciprocate for Bolivia expelling the U.S. ambassador, said a department official who spoke on condition of anonymity. The move came after Morales said Wednesday that U.S. Ambassador Philip Goldberg is persona non grata in Bolivia, and asked his foreign minister to send a note to the American legate asking that he leave the country. Goldberg was accused of inciting anti-government protesters, although Morales offered no specific evidence. Morales' plans to overhaul the constitution and redirect gas revenues have incited two weeks of protests, which recently turned violent as demonstrators in the country's energy-rich eastern provinces stormed public offices, blocked roads and seized gas fields. At least eight people were killed and 20 injured Thursday, according to authorities, as anti-government protesters fought Morales's backers in eastern Bolivia and seized more natural gas fields. Morales is an indigenous Bolivian whose rise to power in 2005 was heralded as a watershed moment for the country's majority aboriginal population. He has used his first presidential term to effectively nationalize much of the nation's petroleum and mineral wealth — often to the detriment of foreign corporations and Bolivia's old-guard, wealthy elites. His economic policies have kindled an autonomy movement and touched off demonstrations in the resource-rich lowland regions of eastern Bolivia, where residents aren't keen to see royalties redistributed more widely among the populace.
| America |

The Feds are Running Scared The Daily Reckoning (September 11, 2008) - The fog of war – that is, in the “war” between inflation and deflation – is lifting. We’re beginning to see more clearly which way the battle is going. “America’s giant mortgage companies nationalized,” is how Le Monde treated Monday’s big story. “The biggest bailout in history...” it went on. But what does it mean when the world’s most free-market government nationalizes its largest finance industry? It means a couple things: First, that the days of “laissez-faire”, even ersatz laissez-faire, are over. No more deregulation. No more tax cuts. No more free trade agreements. Second, that the feds are running scared. They are in retreat. The battle between a natural market correction...and an unnatural, inflationary boom...is going against them. We were right all along – or almost right; when the dot.com bubble burst it marked the beginning of the end – the end of the bull market on Wall Street...the end of the credit expansion that began in ’82...and the peak of American power and influence in the world. The decline since then has been delayed and disguised – by a flood of new liquidity from the feds. But now, there’s no stopping it. And it’s much worse than it would have been 8 years ago. Because Americans became more and more used to spending money they didn’t have; now they have more debt than ever. And because the Chinese and other foreigners became more and more used to selling things to people who couldn’t pay for them; now their new apartment buildings are empty and their new factories are quiet. And now, the downturn is global...and it will be longer, and harder, than practically anyone imagines. This just in: “Top China developer’s sales fall sharply.” Maybe it was the distraction of the Olympics, but China’s biggest listed property developer, Vanke, said sales fell 35% last month. And this too: Yesterday, gold fell more than $30 – to $757. The euro rose to $1.40. Oil is rising this morning, on fears of Hurricane Ike, but it closed yesterday at $102. Our guess is that it will sink to the $70 range. And here’s Le Monde again: “Good news, finally...almost everywhere, inflation remains under control and in retreat.” Wrong. Wrong. Wrong. Inflation may be in retreat. But it’s not good news. It means the whole world is sinking into a slump – not just the US and Britain. And that’s what the feds are afraid of. Sec. Paulson justified the takeover of Mac and Mae on the grounds that the markets and the taxpayers needed “protection from a systemic risk.” What was the risk? That both Freddie and Fannie would go broke, that houses would fall to what they were really worth, and that – when the federally-chartered agencies stopped paying their debt to foreign lenders – the whole world financial system would melt down. Driven by fear...Paulson took the bold action... more...
| EU/UN / 4th Kingdom | America | Economic Crisis |

U.S. to guarantee Palestinian state WorldNet Daily (September 11, 2008) - The U.S. is planning to issue a letter guaranteeing the country will back agreements reached during current Israeli-Palestinian negotiations aimed at creating a Palestinian state before President Bush leaves office in January, WND has learned. The move is intended to ensure any agreements reached by the Israelis and the Palestinian Authority, and spelled out in a joint document, will be recognized by the next U.S. administration and binding for Israel and the PA. The information comes as Jacob Walles, the U.S. consul-general, stated in an interview with a major Palestinian newspaper yesterday that Israel and the PA agreed to negotiate Jerusalem and the Jordan Valley area leading to the Dead Sea. In response to the report, the State Department issued a statement claiming the U.S. government has not taken a position on the borders of a future Palestinian state and denying Jerusalem is being discussed. But Israeli and Palestinian sources intimately familiar with the current talks tell WND Jerusalem is being negotiated, with Palestinian officials claiming the talks are in advance stages. The sources also said the U.S. recently floated a plan to divide Jerusalem. According to informed Israeli and Palestinian sources, officials from the State Department this year presented both negotiating sides with several proposals for consideration regarding the future status of Jerusalem. It was unclear whether the U.S. proposals were accepted. One U.S. plan for Jerusalem obtained by WND was divided into timed phases and, among other things, called for Israel eventually to consider forfeiting parts of the Temple Mount, Judaism's holiest site. According to the first stage of the U.S. proposal, Israel initially would give the PA some municipal and security sovereignty over key Arab neighborhoods in eastern Jerusalem. The PA would be allowed to open some official institutions in Jerusalem, could elect a mayor for the Palestinian side of the city and would deploy some kind of so-called basic security force to maintain law and order. The specifics of the force were not detailed in the plan. The initial stage also calls for the PA to operate Jerusalem municipal institutions, such as offices to oversee trash collection and maintenance of roads. After five years, if both sides keep specific commitments called for in a larger principal agreement, according to the U.S. plan, the PA would be given full sovereignty over agreed-upon eastern Jerusalem neighborhoods and discussions would be held regarding an arrangement for the Temple Mount. The plan doesn't specify which parts of the Temple Mount could be forfeited to the Palestinians or whether an international force may be involved. The PA also could deploy official security forces in Jerusalem separate from a non-defined basic force after the five-year period and also could open major governmental institutions, such as a president's office, and offices for the finance and foreign ministries. The U.S. plan leaves Israel and the PA to negotiate which Jerusalem neighborhoods would become Palestinian. According to top diplomatic sources, Secretary of State Condoleezza Rice, who visited the region last month, pressed Israel to sign a document by the end of the year that would include Jerusalem by offering the Palestinians a state in Israel's capital city as well as in the West Bank and Gaza Strip. The Israeli team rather would conclude an agreement on paper by the end of the year that would give the Palestinians a state in the West Bank, Gaza and some Israeli territory, leaving conclusions on Jerusalem for a later date, the informed diplomatic sources told WND. The sources said the Palestinian team has been pushing to conclude a deal by January on all core issues, including Jerusalem, and has been petitioning the U.S. to pressure Israel into signing an agreement on paper that offers the Palestinians eastern Jerusalem. Rice, the sources said, has asked Israeli leaders to bend to what the U.S. refers to as a "compromise position," concluding an Israeli-Palestinian agreement by the end of the year that guarantees sections of Jerusalem to the Palestinians. But Israel would not be required to withdraw from Jerusalem for a period of one to five years.
| Israel | Islam | Dividing the Land | America |

Taxation Nation: Now You Own Fannie and Freddie McAlvany Weekly Commentary (September 10, 2008) - "It seems to me in one sentence, two things. We're right in the midst of the greatest financial crisis in the history of our country - number one - and number two; we're probably already over the line to becoming socialistic state, the USSA, the United Socialist States of America." - Jim Deeds
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

After listening to this, you probably already know where I think we're headed - a global cashless society where perceived wealth and prosperity are provided by the globalist government, the New World Order. This ½ hour show goes into the socialist steps that will bring us there and how the financial instability we are currently experiencing will lead us there.

Swastika Epidemic in the United States Israel National News (September 10, 2008) - An epidemic of swastikas has spread in the United States in recent days. Police are scrambling to find suspects as Nazi symbols and other anti-Semitic graffiti have appeared on storefronts, synagogues and other locations in dozens of locations across the country. Many incidents occurred over the Labor Day holiday. Rewards have been offered for the finding of the culprits. In Arizona, graffiti “artists” spray-painted swastikas on several buildings, including a Family Dollar store. Some of the swastikas were accompanied by a painted circle with an “x” running through it and the words “Say No” appearing in the middle. Police are looking for the culprits of these attacks and others in the area, including the painting of swastikas and other anti-Semitic messages on a traffic sign, a garage door and several mailboxes. On Sunday, near Boston, Massachusetts, a swastika was found scratched into the door of a Reform temple. Suspects have yet to be found after Rabbi Benjamin Lefkowitz found the Nazi symbol on the door of Temple Beth Sholom in the town of Hull, according to the local newspaper The Patriot Ledger. Jewish institutions in Georgia and California also became the repeated targets of swastika tagging over the weekend. The same Sunday of the Hull, Mass. attack, the Atlanta Jounal-Constitution reported that in the Atlanta, Georgia suburb of Sandy Springs, a swastika was found painted on a stop sign near a Jewish day school. It was the second time in a month that the area near the Epstein School has been targeted with swastikas. Sandy Springs police announced Tuesday that they were doubling the reward offered for information leading to the capture and conviction of the perpetrators, from $2,500 to $5,000. Over the weekend, vandals painted a swastika on a Conservative synagogue northeast of San Diego, California. The San Diego Sheriff’s Department reported that it was the third time since April that Temple Ner Tamid in Poway was targeted with anti-Semitic graffiti. Local authorities reported that the synagogue, serving some 120 families, was targeted in May with “white-supremacist letters, numbers and signs”, including symbols that apparently meant “Heil Hitler.” more...
| Israel | America |

Iranian President Mahmoud Ahmadinejad to Return to U.S. Fox News (September 10, 2008) - A U.N. spokesman has confirmed to FOX News that Iranian President Mahmoud Ahmadinejad will return to the U.S. to address the U.N.'s assembly on Sept. 23. Jewish groups plan to hold a large protest rally under the slogan "Stop Iran Now!" during Ahmadinejad's visit, Israel National News reported. The rally will take place in Dag Hammarskjöld Plaza, next to the U.N. building in which Ahmadinejad is scheduled to address the General Assembly. The visit comes a year after Ahmadinejad addressed students and faculty at Columbia University last fall. During his last visit, Ahmadinejad ignited a media firestorm with controversial comments in which he refuted the claim that Iran discriminates against women, and was derided loudly by the audience when he said there are no homosexuals in his country. Several people contested Ahmadinejad's invitation from Columbia and criticized the university for extending one. While Columbia President Lee Bolligner offered a scathing introduction to Ahmadinejad's address, it offered little comfort for those opposed to the event.
| Iran | America |

Fannie and Freddie Glenn Beck (September 8, 2008) - Now, I've been doing some I've been doing homework on Freddie and Fannie for I don't know how long and I've been waiting for this day because I knew that if I presented this three, four months ago, nobody would really pay attention to it because everyone was denying that Freddie and Fannie were going to fall apart. Still everybody is in somewhat denial, everybody is saying, oh, this is only going to cost the American taxpayers you $200 billion. That is a lie. It's going to cost you a whole lot more than that. Some say up to $1.6 trillion. To give you some idea of how much money that is, the original remember, "Oh, my gosh, all of a sudden we are having problems with our financial sector." The original panic was that the banks might have to write down as much as $200 billion. That's what we're writing a check for today for Freddie and Fannie, out of your pocket. I told you at the time when everyone said, oh, it's going to be $200 billion. No, it's not. It's going to be in the trillions, it will at least start with $1 trillion. Now we are approaching a trillion dollars in the regular financial markets and this is going to cost you a trillion dollars. This one is costing you. Now, I want to know where is the outrage. I want to know where is the outrage from the press. Where is the outrage from congress. I'm going to ask three questions and then I'm going to give you the answers, and I ask you just to pay attention here for just a second because when you know the real story behind Freddie and Fannie, blood is going to shoot out of your eyes. Here are the questions. Question one: Why aren't the CEOs of Fannie Mae and Freddie Mac going to jail? Do you remember the name Ken Lay? Why aren't the CEOs and corporate executives required to give back, at the very minimum, give back the millions of dollars they put into their pockets while they inflated the results to meet their bonus triggers? I want to explain something here. What they did, what Freddie and Fannie did is they have these CEOs that said, oh, we're going to meet our budget. And if they met their budget, they get these big bonuses. Well, they would say that they met their budget and then they would get the bonuses but then they wouldn't meet their budget and they would come back later and say, oh, we had to readjust. No one, no one questioned them. I'm sorry. Members of the press like the Wall Street Journal questioned them. We had questioned them. But nobody else had questioned them. The question I have now is, why. Why. I'll explain in a second when I introduce you to the players. I won't even have to explain. You are going to say, oh, my gosh, you're kidding me. Question number two: Why aren't the shareholders wiped out? Why is the federal government protecting the shareholders of Fannie and Freddie today? This isn't capitalism. Question number three: Where's the end game? You know everybody always says in congress, especially the Democrats, "We want an end game. How come, you know, if you're going to go in for a war, you've got to know how to get out. Where's the strategy here? Where's the end game? What does victory look like?" I can tell you what victory looks like but nobody else is going to tell you this. They will all deny it, but it is not a coincidence today that they put a 15 month, pretty much just a 15 month Band Aid on this. What they've done is save these problems for the next congress and the next President. Why? I'll explain hopefully later on here. We'll get into a chance to do that but I'll explain in great detail on tomorrow's program and show you what congress is actually doing right now. They are setting us up right now. more...
| NewWorldOrder | America | Economic Crisis |

So if the government bails out Fannie and Freddie, does that mean the Government now owns the loans on the land here in the US?

America's demonization next step in New World Order? Old-Thinker News (August 27, 2008) - Georgia is the graveyard of America's unipolar world

"Why that should be so isn't hard to understand. It's not only that the US and its camp followers have trampled on international law and the UN to bring death and destruction to the Middle East, Afghanistan and Pakistan... For the rest of us, a new assertiveness by Russia and other rising powers doesn't just offer some restraint on the unbridled exercise of global imperial power, it should also increase the pressure for a revival of a rules-based system of international relations."

Related: Australian paper proclaims: A New World Order as U.S. prosperity falls

After the recent Georgian incursion into South Ossetia, discussion has been rampant regarding America's influence and dominance on the world scene. Some are proclaiming that Russia has laid to rest aspirations for a so called New World Order. From one angle this may appear to be the case, but there is a bigger picture needs to be examined. The United States is going to - and to a degree already is - be held up as an example of why "global mechanisms" and a "world structure" need to be in place to prevent such actions as the invasion of Iraq and U.S. support of Georgian forces in the invasion of South Ossetia. We've been presented with a problem, now globalist think tanks and organizations like the Council on Foreign Relations will provide us with a solution. National sovereignty has no place in this era, so we're told. We must "share power". Former President of the Soviet Union, Mikhail Gorbachev, has stated that he sees the U.S. led Iraq war as an example of the need for a "new world order" to manage the globe.

"Look at the US in Iraq, everybody was opposed, even their allies, but they did not listen and what happened? They do not know how to get out of it now. Now we understand that... we are all linked to the US and if it falls apart it would be a real collapse. We have to help them to get out of there. That means that cooperation is needed, a new world order is necessary and global mechanisms to manage it."

Turkish President Abdullah Gul has made similar statements recently in response to the Georgia-Russia conflict. As the AFP reports,

"Turkish President Abdullah Gul predicted "a new world order" of joint international action, in an interview published in the U.K. on Saturday... He added that the conflict in Georgia shows the U.S. can no longer shape global politics on its own, and that it should start sharing power with other nations."

The 2008 election gives us an idea of the current trends underway and provides a window into the establishment's long term game-plan. Both Barack Obama and John McCain have openly indicated that globalist policy will be pursued if either of them are elected president. John McCain discussed his proposed "League of Democracies" at the Hoover institution in May of 2007. McCain stated in part,

"This League of Democracies would not supplant the United Nations or other international organizations. It would complement them. But it would be the one organization where the world's democracies could come together to discuss problems and solutions on the basis of shared principles and a common vision of the future. If I am elected president, I will call a summit of the world's democracies in my first year to seek the views of my democratic counterparts and begin exploring the practical steps necessary to realize this vision."

Barack Obama made his globalist stance known during his highly publicized speech in Berlin on July 24th. He said,

"Yes, there have been differences between America and Europe. No doubt, there will be differences in the future. But the burdens of global citizenship continue to bind us together. A change of leadership in Washington will not lift this burden. In this new century, Americans and Europeans alike will be required to do more -- not less. Partnership and cooperation among nations is not a choice; it is the one way, the only way, to protect our common security and advance our common humanity... In this new world, such dangerous currents have swept along faster than our efforts to contain them. That is why we cannot afford to be divided. No one nation, no matter how large or powerful, can defeat such challenges alone."

The more sophisticated branch of globalist elites who see the route to power through slower, deliberate and incremental steps are now making their move. The aggressive Neocons have served their purpose and are making the establishment nervous with further provocative actions. The corruption and wars that have tarnished the American people's name will now be used to further the aims of the global elite. America's demonization, and in turn its use as an example of the necessity of global governance, may very well be the next stage of the establishment's plan for world government.
| EU/UN / 4th Kingdom | NewWorldOrder | America |

It is increasingly becoming the status quo that a globalized world is the only way. Both presidential candidates hold this view and according to the Bible, it is the inevitable end. However the Biblical version is not as pretty as the globalists try to paint it today. How will we get from their vision to Biblical reality? I believe fear and the desire for peace and safety will be used to direct the world toward the ultimate end according to scripture. The New Age Movement has a goal of bringing all belief to an ecumenical position that excludes what are termed exclusionary and fundamentalist. Already there is the Alliance of Civilizations working with religions around the world from apostate Christianity to Buddhist and everything in between to essentially remove the fundamentalist aspects from all belief systems and label those who refuse as incompatible with the new age of peace they are trying to build on earth. Those who remain true to God's Word, which says that Yeshua is the only way to salvation will become more and more shunned and those who agree in rejecting the Truth will band together against those who refuse to conform. Perhaps you think I go a little too far, but remember that according to the Bible the ultimate end of a global government is centered around worship of a New Age Christ, a false Messiah who the world will adore while rejecting the God of Love because they had no love for the Truth.

John 14:23-29
Jesus answered and said unto him, If a man love me, he will keep my words: and my Father will love him, and we will come unto him, and make our abode with him. He that loveth me not keepeth not my sayings: and the word which ye hear is not mine, but the Father's which sent me. These things have I spoken unto you, being yet present with you. But the Comforter, which is the Holy Ghost, whom the Father will send in my name, he shall teach you all things, and bring all things to your remembrance, whatsoever I have said unto you. Peace I leave with you, my peace I give unto you: not as the world giveth, give I unto you. Let not your heart be troubled, neither let it be afraid. Ye have heard how I said unto you, I go away, and come again unto you. If ye loved me, ye would rejoice, because I said, I go unto the Father: for my Father is greater than I. And now I have told you before it come to pass, that, when it is come to pass, ye might believe.

John 15:12-22
This is my commandment, That ye love one another, as I have loved you. Greater love hath no man than this, that a man lay down his life for his friends. Ye are my friends, if ye do whatsoever I command you. Henceforth I call you not servants; for the servant knoweth not what his lord doeth: but I have called you friends; for all things that I have heard of my Father I have made known unto you. Ye have not chosen me, but I have chosen you, and ordained you, that ye should go and bring forth fruit, and that your fruit should remain: that whatsoever ye shall ask of the Father in my name, he may give it you. These things I command you, that ye love one another. If the world hate you, ye know that it hated me before it hated you. If ye were of the world, the world would love his own: but because ye are not of the world, but I have chosen you out of the world, therefore the world hateth you. Remember the word that I said unto you, The servant is not greater than his lord. If they have persecuted me, they will also persecute you; if they have kept my saying, they will keep yours also. But all these things will they do unto you for my name's sake, because they know not him that sent me. If I had not come and spoken unto them, they had not had sin: but now they have no cloak for their sin.

Palin electrifies conservative base Politico (August 31, 2008) - The selection of Sarah Palin as John McCain’s running mate has electrified conservative activists, providing a boost of energy to the GOP nominee-in-waiting from a key constituency that previously had been lukewarm — at best — about him. By tapping the anti-abortion and pro-gun Alaska governor just ahead of his convention, which is set to start here Monday, McCain hasn’t just won approval from a skeptical Republican base — he’s ignited a wave of elation and emotion that has led some grass-roots activists to weep with joy. Serious questions remain about McCain’s pick — exactly how much he knows about her and her positions, past and present, on key issues. But for the worker bee core of the party that is essential to any Republican victory, there are no doubts. “I woke up and my e-mail was just going crazy,” said Charmaine Yoest, head of the legislative arm of Americans United for Life and a former top official in Mike Huckabee’s presidential campaign. “And then when it was announced — it was like you couldn’t breathe.” The media elite — as well as elite members of the GOP consulting community — have all but mocked Palin as a former small-town mayor with zero Washington experience. But that view of her totally misses the cultural resonance she carries to crucial Republican power centers and could not be more at odds with the jubilation felt among true believers that one of their own is on the ticket. Palin, say conservative activists, has instantly changed how they feel about McCain’s campaign and spurred them to go to work for the Republican ticket. First, though, they’re expressing their newfound fondness for McCain with their checkbooks. Since tapping Palin, the campaign has raised nearly $7 million online, according to McCain aides. Most importantly for McCain, the two constituencies who are most energized by Palin just happen to be the twin grassroots pillars of the GOP: anti-abortion activists and pro-Second Amendment enthusiasts and sportsmen. Without these two camps making phone calls, stuffing envelopes and knocking on doors, Republican presidential candidates would severely lack for volunteers. They are critical to the health of the conservative coalition that has dominated Republican politics for a generation. Republicans say the primary source for the passion can be found in Palin’s example and authenticity. Not only is the 44-year-old governor opposed to abortion rights — but she carried and gave birth to a child with Down syndrome earlier this year, a profound and powerful motivating force to both opponents of abortion rights and the parents and relatives of special needs children. And not only is she a supporter of the right to bear arms — but she’s a lifetime member of the NRA and an avid hunter and fisherman whose gubernatorial office couch is adorned with a massive grizzly bear pelt. “She’s lived it!” exulted Yoest. “It’s so satisfying as a conservative woman. When she walked out on that stage there was just this moment. It was really emotional for a lot of us.”
| America |

Officials prepare for Gustav, Hanna The Washington Times (August 29, 2008) - Bush administration officials, sensitive to Friday's anniversary of Hurricane Katrina falling just days before the Republican National Convention, said Thursday that they will be far better prepared than they were three years ago if a pair of tropical storms turn into the Gulf of Mexico this weekend. "We feel we are more ready this year than we have ever been before," said Rear Adm. Brian Salerno, Coast Guard assistant commandant for marine safety, security and stewardship. The National Hurricane Center is predicting that Tropical Storm Gustav will become a major hurricane after it enters the warm waters of the Gulf. Tropical Storm Hanna formed behind Gustav Thursday morning. Gustav is expected to reach landfall at 8 a.m. Tuesday, the second day of the Republican National Convention in Minneapolis-St. Paul, and will serve as a reminder that Hurricanes Katrina and Rita in 2005 killed more than 1,000 people in New Orleans and across the Gulf Coast and that the Bush administration's response was widely criticized as inadequate and too slow.
| America | Earth Changes |

Condi pulls a Solomon: Split Jerusalem in 2 WorldNet Daily (August 28, 2008) - Secretary of State Condoleezza Rice, completing a visit to the region today, has been pressing Israel to sign a document by the end of the year that would divide Jerusalem by offering the Palestinians a state in Israel's capital city as well as in the West Bank and Gaza Strip, according to top diplomatic sources involved in the talks. The Israeli team, led by Prime Minister Ehud Olmert, has been negotiating the division of Jerusalem – despite claims to the contrary – but would rather conclude an agreement on paper by the end of the year that would give the Palestinians a state in the West Bank, Gaza and some Israeli territory, leaving conclusions on Jerusalem for a later date, the informed diplomatic sources told WND. The sources said the Palestinian team has been pushing to conclude a deal by January on all core issues, including Jerusalem, and has been petitioning the U.S. to pressure Israel into signing an agreement on paper that offers the Palestinians eastern Jerusalem. Rice, the sources said, has asked Israeli leaders to bend to what the U.S. refers to as a "compromise position," concluding an Israeli-Palestinian agreement by the end of the year that guarantees sections of Jerusalem to the Palestinians. But Israel would not be required to withdraw from Jerusalem for a period of one to five years. The diplomatic sources said the plan is that once an Israeli-Palestinian deal is reached on paper by January, Bush would issue an official letter guaranteeing that the U.S. supports the conclusions of the document. Any Israeli-Palestinian paper agreement is to finalize a process that began at last November's U.S. backed Annapolis conference, which seeks to create a Palestinian state, at least on paper, before Bush leaves office. One Palestinian negotiator speaking to WND described as "crazy" the intensity and frequency of Israeli-Palestinian talks in recent weeks, saying both sides have been meeting on a daily basis, usually at the highest levels. The negotiator said Foreign Minister Tzipi Livni and Chief Palestinian Negotiator Ahmed Queri have been leading the talks. The negotiator said Jerusalem is being discussed by both sides and that the two teams are "closer than ever" on coming to an agreement on the status of the city. This claim was verified to WND by other diplomatic sources involved in the negotiations. The Palestinian negotiator said Jerusalem would be divided along the framework of the 2000 U.S.-brokered Camp David accords. He said the general philosophy for dividing Jerusalem would be "Arab for Arab and Jew for Jew," meaning that most Arab-majority eastern sections of Jerusalem would be granted to the Palestinian Authority while Israel would retain Western, Jewish-majority sections. Israel recaptured eastern Jerusalem, including the Temple Mount – Judaism's holiest site – during the 1967 Six Day War. The Palestinians have claimed eastern Jerusalem as a future capital. About 244,000 Arabs live in Jerusalem, mostly in eastern neighborhoods. Jerusalem has an estimated total population of 724,000, the majority Jewish. A number of Arab-majority eastern Jerusalem neighborhoods widely regarded as slated for a Palestinian state include large numbers of Arabs who live on Jewish-owned land illegally. The Jewish National Fund, a U.S.-based nonprofit, owns hundred of acres of eastern Jerusalem land in which tens of thousands of Arabs illegally constructed homes the past few decades. Arabs are now the majority on the Jewish-owned land in question. Asked by WND whether Jerusalem is currently being negotiated, Mark Regev, Olmert's spokesman, simply stated, "No." Olmert has several times denied Jerusalem is being negotiated. Members of his government coalition have promised to bolt his government and precipitate new elections if Jerusalem is discussed in talks. Olmert, facing several criminal investigations described as "serious," recently announced he will resign after his Kadima party holds primaries next month to chose a new leader. That leader is widely expected to continue Israeli-Palestinian talks, especially if frontrunner Livni takes Olmert's place. The diplomatic situation in Israel is such that many commentators believe Olmert has an interest in concluding some sort of agreement quickly. Many believe he would like his input in an Israeli-Palestinian agreement to be among his final "achievements." WND first exclusively reported Aug. 1 that Olmert told the PA he intends to accelerate negotiations to reach some understanding on paper as soon as September. Over the weekend, the Israeli media quoted officials close to Olmert stating the prime minister is working for an interim document as soon as next month to be presented to the United Nations. The document likely will not be the conclusion of negotiations but an outline of some of the breakthroughs regarding the West Bank and Gaza. One PA negotiator told WND of the planned paper: "Papers are very important. It puts limits on the new prime minister. For example, the weak point of Israeli-Syrian negotiations are papers signed by former prime ministers that now must be abided during current negotiations." Regarding the division of Jerusalem, top diplomatic sources said both sides are close to agreements on specific issues. One PA negotiator claimed the U.S. has guaranteed the Palestinians that sensitive areas in eastern Jerusalem in which what he termed "extremist Jews" are purchasing real estate would be handed to the Palestinians. "The Israelis had no problem with this," the PA negotiator claimed. "We were also told not to worry too much about scattered Jewish properties in Arab neighborhoods, or yeshivas (Jewish seminaries) in the Old City." The PA negotiator's claim could not be verified by sources in Jerusalem. The initial stage also calls for the PA to operate Jerusalem municipal institutions, such as offices to oversee trash collection and maintenance of roads. After five years, if both sides keep specific commitments called for in a larger principal agreement, according to the U.S. plan the PA would be given full sovereignty over agreed upon eastern Jerusalem neighborhoods and discussions would be held regarding an arrangement for the Temple Mount. The plan doesn't specify which parts of the Temple Mount could be forfeited to the Palestinians or whether an international force may be involved. The PA also could deploy official security forces in Jerusalem separate from a non-defined basic force after the five year period and could also open major governmental institutions, such as a president's office, and offices for the finance and foreign ministries. The U.S. plan leaves Israel and the PA to negotiate which Jerusalem neighborhoods would become Palestinian. According to diplomatic sources familiar with the plan, while specific neighborhoods were not officially listed, American officials recommended sections of Jerusalem's Old City as well as certain largely Arab Jerusalem neighborhoods such as Jabal mukabar, Beit Hanina, Abu Dis, and Abu Tur become part of the Palestinian side. Also recommended were the Jerusalem neighborhoods of Shoafat, Kfar Akev and Qalandiya. more...
| Israel | Islam | Dividing the Land | Temple Mount | America |

Remember the evacuation of Gaza in 2005, just over three years ago on the 9th of Av? This similar potential situation brings this to mind...

Zechariah 14:1,2
Behold, the day of the LORD cometh, and thy spoil shall be divided in the midst of thee. For I will gather all nations against Jerusalem to battle; and the city shall be taken, and the houses rifled, and the women ravished; and half of the city shall go forth into captivity, and the residue of the people shall not be cut off from the city.

Will we see civil unrest when Jews are once again wrested from their homes to be given to the PA? It looks like the division of Israel is into two pieces, meaning two parties and perhaps Jews will only be moved from half of the city.

Europe into the breach International Herald Tribune (August 26, 2008) - Some diplomatic movement has returned to the Middle East. Under American supervision, Israelis and Palestinians have been negotiating again since the end of 2007. Syria and Israel have begun an indirect negotiation process with Turkey as a mediator. In Lebanon, a new government including all relevant political factions has finally been formed. This would not have been possible without a green light from Syria. And this green light would not have come had Damascus not been convinced that its own negotiations with Israel could, in the medium term at least, lead to a bilateral agreement and also bring about an improvement of Syrian-American relations. Individual European Union states have already honored this constructive about-turn of Syrian policies. For all those engaged in Middle East diplomacy - this goes for the Arab-Israeli fold as well as for the Iranian nuclear file - the U.S. political calendar is always present: No one expects the current U.S. administration to settle any of the conflicts in the region or to bring any of the ongoing diplomatic processes there to a conclusion during the rest of its term. This is explicitly so for the Syrian-Israeli negotiations: Syria has already declared that it would not move from indirect to direct talks before the inauguration of a new American administration ready to actively engage with such a process. Implicitly, however, the same applies to the Annapolis process between Israel and the Palestinian Authority. President Bush has repeatedly said that he wants the two sides to reach an agreement while he is still in office. Israel's outgoing Prime Minister Ehud Olmert and the Palestinian president, Mahmoud Abbas, who lead the talks, are both aware of the contours of a possible, mutually acceptable agreement, and they seem to have come closer with regard to some of the particularly difficult so-called final-status issues. Nonetheless, even under the most positive scenario, the best one could expect is a further narrowing of the gaps. A comprehensive agreement that would sort out such complex issues as the future of Jerusalem, Palestinian refugees, future borders between Israel and Palestine, or infrastructural links between the West Bank and the Gaza Strip, will not be reached within only a couple of months. And neither Israel's prime minister nor the Palestinian president would today have the authority and the necessary majorities to ratify, let alone to implement a peace agreement. All this does not speak against the process, only against exaggerated expectations. The process is extremely fragile, and it could easily break down - particularly in the absence of sustained external "care," of guidance and support from a third party both able and prepared to drive the process forward and encourage the negotiating parties to continue their efforts even in the face of domestic opposition. The current U.S. administration will cease to play its role after the November elections; many of its representatives will by then be looking for new jobs. The new U.S. president will first have to get his senior officials confirmed by Congress, and a foreign policy review, before he begins any major policy initiative. As a result, we should expect a time-out for any active American involvement in the Middle East peace process between the end of this year and at least March or April 2009. Herein lays Europe's challenge. As an active partner in the so-called Middle East Quartet with the United States, Russia and the United Nations, the EU has helped to bring about the current talks between Israelis and Palestinians. The EU and several of its member states are contributing to the process through the support of state- and institution-building in the Palestinian territories, particularly in the security and justice sectors. But beyond that, the EU must now prepare itself to keep the process alive from the end of this year through to next spring. Considering such a task we also have to be aware of the particular structures of the Union. President Nicolas Sarkozy of France, which currently holds the rotating presidency of the EU, has already announced a more active support for the Middle East peace process. But the French presidency ends in December 2008, and the Czech government, which takes over in January 2009, is unlikely to summon the same energy and resources for the Middle East. The EU's special representative for the Middle East, the Belgian diplomat Marc Otte, does not have enough political weight to assume a role that so far has been played by the U.S. secretary of state. Individual EU states like France, Germany or Spain would have the resources and diplomatic skills and could even be interested in temporarily guiding the process until a new American administration resumes this function. In practice, however, jealousy among EU states would make it impossible for any one of them to act for Europe in this or any other important foreign-policy field, unless this country happens to hold the EU presidency. EU states that want to promote a consensual and common European approach would therefore not even try to assume this role; others that might want to take it on would not be able to fill it. This does not make the EU incapable of acting. [Who ya gonna call?] The Union, through its Council of Foreign Ministers, should as soon as possible give a mandate to Javier Solana, the High Representative for the Common Foreign and Security Policy of the EU, to make himself available, with the approval of Israel, the Palestinians, and the current U.S. administration, as a temporary mediator for Israeli-Palestinian negotiations from the end of the year. Solana would not take such an initiative on his own, but he can do so with a mandate from the Council. His staff is familiar with the subject matter and his diplomatic skills are beyond doubt. Any coalition of willing EU states could support him by delegating some of their own experienced diplomats to his office for the task. Solana and the EU would not be expected to make peace or to bring the Israeli-Palestinian negotiations to a conclusion and to dispel any opposition to an agreement. This cannot be done by the EU, simply because, compared to the United States, it has less influence over Israel and cannot give security guarantees to either Israel or the Palestinians. The EU, however, can act as a temporary trustee for the process, thereby preventing it from breaking down and, given its knowledge of the regional situation, help the parties to find practical solutions for some of the most complicated final-status questions - for example, the political division of Jerusalem as the future capital of two states - only to hand back the process and the role of external guidance to Washington once the new administration there is ready for it. As an active trustee in this sense, the EU could not only show that it lives up to its own claim of contributing to crisis management through preventive diplomacy, it would also demonstrate to the new U.S. administration how high a peaceful resolution of the Israeli-Palestinian conflict ranges on the European list of priorities, and how useful it can be for the United States to cooperate on this with its trans-Atlantic partners.
| Signs of the Times | Israel | Islam | Dividing the Land | EU/UN / 4th Kingdom | Solana | NewWorldOrder | 1^st Seal | America |

I agree with Fulfilled Prophecy regarding the must-read nature of this story and thank them for their watching of the many things I would miss were it not for their diligence. I wonder what would happen if some kind of Middle East war were to break out and through it all, a particular person who helped author part of the roadmap were to actually bring the peace agreement to fruition and divide Israel? I believe he could be seen as an incredibly good diplomat and give further credibility to give him more power to bring peace in the world. Keep watching...

Explosion severs Azerbaijan-Georgia-Europe fuel railway link DEBKAfile (August 24, 2008) - The train hit a mine Sunday, Aug. 24 at the village of Skra, 5 km west of Gori, on the main track of the railway line linking Eastern and Western Georgia – a vital trade route for oil exports from Azerbaijan to European markets. Responsibility for the sabotage has not been determined. The blast deals a serious blow to Georgia’s efforts to recover from its ten-day war over South Ossetia in the face of the continuing Russian military presence. Georgian officials suggested Russian forces which pulled out of the area two days ago left a road mine on the railroad. Azerbaijan restored its oil consignments via Georgia only two days ago; their interruption during the fighting robbed the Saakasvhili government of valuable revenue, which the attack has suspended again. In another development Sunday, the guided missile destroyer USS McFaul docked at the Georgian port of Batumi carrying supplies such as blankets, hygiene kits and baby food. Two more US ships are due to dock later this week. The American vessels were supposed originally to put in at the Black Sea port of Poti, 80 km to the north, but changed direction to avoid meeting Russian troops who are fortifying their positions at Poti further up the coast. Russia says it entitled to keep its forces in a buffer zone around the breakaway territories of Abkhazia and South Ossetia, citing the truce and other international agreements as covering unspecified “additional security measures,” over and above their pre-conflict positions. French President Nicolas Sarkozy, Moscow claims, approved the buffer zones which they organized before the ceasefire was signed (as revealed by DEBKAfile on Aug. 17) Russia acknowledges that Poti is outside the ceasefire’s terms and its peacekeeping mandate. Saturday, the Russian missile cruiser Moskva returned to its base in Ukraine. DEBKAfile reported on Aug. 20 from official Russian sources that the warship was part of a large flotilla heading for the Mediterranean port of Tartus in Syria. The defense ministry in Moscow later detached the Moskva from the contingent and sent it back to the Black Sea.
| Gog/Magog | EU/UN / 4th Kingdom | America |

Tornado touches down south of Denver KRDO (August 24, 2008) - At least four tornadoes touched down southeast of Denver today, the eve of the Democratic National Convention. The twisters caused no substantial damage. Authorities say one twister touched down about 20 miles southeast of downtown Denver, between Castle Rock and Parker. Television footage showed a dusty twister spinning through relatively open country, with scattered houses nearby. Three more twisters touched down in the area, but the exact location of thoses weren't immediately known. The National Weather Service issued a flash flood warning for Jefferson County after the twisters. There was no immediate word of flooding damage. The storm also brought more than an inch of pea-sized hail.
| America | Earth Changes |

From a United Press International story: "I've never seen anything like it," Park County Coroner Sharon Morris told the newspaper. "And I've been here 25 years."

New Orleans Repeating Deadly Levee Mistakes Newsmax (August 23, 2008) - Signs are emerging that history is repeating itself in the Big Easy, still healing from Katrina: People have forgotten a lesson from four decades ago and believe once again that the federal government is constructing a levee system they can prosper behind. In a yearlong review of levee work here, The Associated Press has tracked a pattern of public misperception, political jockeying and legal fighting, along with economic and engineering miscalculations since Katrina, that threaten to make New Orleans the scene of another devastating flood. Dozens of interviews with engineers, historians, policymakers and flood zone residents confirmed many have not learned from public policy mistakes made after Hurricane Betsy in 1965, which set the stage for Katrina; many mistakes are being repeated. "People forget, but they cannot afford to forget," said Windell Curole, a Louisiana hurricane and levee expert. "If you believe you can't flood, that's when you increase the risk of flooding. In New Orleans, I don't think they talk about the risk." Tyrone Marshall, a 48-year-old bread vendor, is one person who doesn't believe he's going to flood again. "They've heightened the levees. They're raised up. It makes me feel safe," he said as he toiled outside his home in hard-hit Gentilly, a formerly flooded property refashioned into a California-style bungalow. Geneva Stanford, a 76-year-old health care worker, is a believer, too. She lives in a trim and tidy prefabricated house in the Lower 9th Ward, 200 feet from a rebuilt floodwall that Katrina broke. "This wall here wasn't there when we had the flood," Stanford said, radiant in a bright kanga-style dress. "When I look at it now, I say maybe if we had had it up it there then, maybe we wouldn't have flooded." They're not alone. A recent University of New Orleans survey of residents found concern about levee safety was dropping off the list of top worries, replaced by crime, incompetent leadership and corruption. This sense of security, though, may be dangerously naive. For the foreseeable future, New Orleans will be protected by levees unable to protect against another storm like Katrina. When and if the Army Corps of Engineers finishes $14.8 billion in post-Katrina work, the city will have limited protection _ what are defined as 100-year levees. more...
| America |

Obama chooses Sen. Joe Biden to be running mate CNN (August 23, 2008) - Presumptive Democratic presidential nominee Barack Obama introduced Sen. Joe Biden to the nation as his running mate Saturday, telling supporters that he is "a leader who is ready to step in and be president." "For months, I've searched for a leader to finish this journey alongside me and join me in making Washington work for the American people. I searched for a leader who understood the rising costs confronting working people and will always put their dreams first," Obama said. "Today, I've come back to Springfield to tell you I've found that leader," he said. The rally is the pair's first joint appearance since Obama announced that Biden, the senior U.S. senator from Delaware, would be his running mate on his Web site and in a text message to supporters early Saturday morning. Democrats hope that Biden's working-class roots and foreign policy experience will help Obama, who informed Biden of his decision Thursday. Thousands of cheering supporters gathered Saturday for the rally in Springfield, Illinois, where Obama announced his candidacy last year. It will be their only public appearance together before next week's Democratic convention in Denver. As he took to the podium at Saturday's rally, Biden invoked the 16th U.S. president, Abraham Lincoln, who was from Illinois. "President Lincoln once instructed us to be sure to put your feet in the right place and then stand firm," said Biden, a native of Scranton, Pennsylvania. "Today in Springfield, I know my feet are in the right place, and I'm proud to stand firm with the next president of the United States of America, Barack Obama." Obama stressed those roots, introducing 65-year-old Biden as "still that scrappy kid from Scranton who beat the odds." He noted hardships in Biden's life, including the deaths of Biden's first wife and infant daughter in a 1972 car wreck and his struggle to overcome a brain aneurysm in 1988. more...
| America |

US concedes Kremlin’s first military response in Georgia was “legitimate” DEBKAfile (August 22, 2008) - The US ambassador to Moscow, endorsing Russia's initial moves in Georgia, described the Kremlin's first military response as legitimate after Russian troops came under attack. This was the first positive statement by an American official about Moscow’s first response to the Georgian invasion of South Ossetia, after a string of condemnations from the heads of the Bush administration. It came from US ambassador John Beyrle, who arrived in Moscow last month, in an interview published by the Russian daily Kommersant Friday, Aug. 22. DEBKA-Net-Weekly disclosed Friday in its lead article that Washington and Moscow are working quietly and intensively to set up a summit between President George W. Bush and Russian prime minister Vladimir Putin to bring crisis-ridden US-Russian relations back on an even keel. (Both Powers Push for a Bush-Putin Summit.) Ambassador Beyrle’s words were the first public departure by a US official from the critical remarks of Moscow’s conduct heard uniformly from Bush, Condoleezza Rice and Robert Gates. The ambassador said Washington had not sanctioned Georgia’s initial actions when on Aug. 8, after a succession of tense skirmishes, Georgian forces attacked South Ossetia, triggering a massive Russian reaction when its peacekeepers came under fire. “We did not want to see a recourse to violence and force and we made that very, very clear,” said Beyrle. “The fact that we were trying to convince the Georgian side not to take this step is clear evidence that we did not want all this to happen,” he said. DEBKAfile: This was the first US admission that Georgia was the aggressor in South Ossetia and showed cracks in their hitherto solid support for president Mikhail Saakashvili. Beyrle said Washington still supports Russia's bid to join the World Trade Organization – an official departure from implied American threats to punish Moscow by international isolation. The US ambassador’s interview was run in the same Russian paper which quoted Syrian president Bashar Assad on Wednesday, as announcing he was willing to accept Russian missile bases in his country. Beyrle’s words look like a bid to halt the deterioration in Russo-American relations before they veer out of control in a second global arena. In another telling remark, the US ambassador said: “We have seen the destruction of civilian infrastructure, as well as calls by some Russian politicians to change the democratically-elected government of Georgia. That is why we believe that Russia has gone too far.” The subtext here, say DEBKAfile’s sources, is that if Moscow continues to pull troops out of Georgia and does not threaten the country’s integrity and regime, Russian and US leaders can do business.
| Gog/Magog | America |

U.S. government: We know parenting better than you WorldNet Daily (July 28, 2008) - The U.S. House of Representatives is scheduled to debate two bills that could give the federal government unprecedented control over the way parents raise their children – even providing funds for state workers to come into homes and screen babies for emotional and developmental problems. The Pre-K Act (HR 3289) and the Education Begins at Home Act (HR 2343) are two bills geared toward military and families who fall below state poverty lines. The measures are said to be a way to prevent child abuse, close the achievement gap in education between poor and minority infants versus middle-class children and evaluate babies younger than 5 for medical conditions.

'Education Begins at Home Act' – HR 2343

HR 2343 is sponsored by Rep. Danny Davis, D-Ill., and cosponsored by 55 Democrats and 11 Republicans. The Congressional Budget Office estimates that implementing the Education Begins at Home Act would cost taxpayers $190 million for state home visiting plus "such sums as may be necessary" for in-hospital parent education. While the bill may appear to be well-intentioned, Pediatrician Karen Effrem told WND government provisions in HR 2343 to evaluate children for developmental problems go too far. "The federal definition of developmental screening for special education also includes what they call socioemotional screening, which is mental health screening," Effrem said. "Mental health screening is very subjective no matter what age you do it. Obviously it is incredibly subjective when we are talking about very young children." While the program may not be mandatory for low-income and military families, there is no wording in the Education Begins at Home Act requiring parental permission for treatment or ongoing care once the family is enrolled – a point that leads some to ask where parental rights end and the government takes over. Also, critics ask how agents of the government plan to acquire private medical and financial records to offer the home visiting program. "There's no consent mentioned in the bill for any kind of screening – medical, health or developmental," Effrem said. "There are privacy concerns because when home visitors come into the home they assess everything about the family: Their financial situation, social situation, parenting practices, everything. All of that is put into a database." Effrem said it does not specify whether parents are allowed to decline evaluations, drugs or treatment for their children once they are diagnosed with developmental or medical conditions. "How free is someone who has been tagged as needing this program in the case of home visiting – like a military family or a poor family?" she asked. "How free are they to refuse? Even their refusal will be documented somewhere. There are plenty of instances where families have felt they can't refuse because they would lose benefits, be accused of not being good parents or potentially have their children taken away." When WND asked Effrem how long state-diagnosed conditions would remain in a child's permanent medical history, she responded: "Forever. As far as I know, there isn't any statute of limitations. The child's record follows them through school and potentially college, employment and military service." Effrem said conflicts could also arise when parents do not agree with parenting standards of government home visitors. "Who decides how cultural tolerance is going to be manifested?" she asked. "There's some blather in the language of the bill about having cultural awareness of the differences in parenting practices, but it seems like that never applies to Christian parents."

'Providing Resources Early for Kids'

The Pre-K Act, or HR 3289, is sponsored by Rep. Mazie Hirono, D-Hawaii, and cosponsored by 116 Democrats and Rep. Ileana Ros-Lehtinen, R-Fla. Estimated to cost $500 million for each of fiscal years 2008 through 2013, the bill provides funds for state-approved education. Government workers would reach mothers and fathers in the hospital after a baby has been delivered to promote Pre-K programs. "They give them information about child care Resource and Referral Network so they can get the child into a preschool or daycare that follows the state standards and get the mom working as quickly as possible," she said. "It's always that sort of thing: It's a list of resources, it's intruding on parental autonomy and authority and it's not necessarily accurate or welcome information." While parents may choose to be involved in preschool programs, Effrem said the Pre-K Act poses similar concerns about government trumping parents' rights. "Once they are involved, they don't have any say over curriculum," she said. "There's plenty of evidence of preschool curriculum that deals with issues that have nothing to do with a child's academic development – like gender, gender identity, careers, environmentalism, multiculturalism, feminism and all of that – things that don't amount to a hill of beans as far as a child learning how to read." Effrem said the Pre-K Act extends a "really messed-up K-12 system" to include even younger, more vulnerable children. "This is an expansion of the federal government into education when there really is no constitutional provision for it to do so."
| America |

NATO Says Russia Has Cut All Military Ties With Western Alliance Fox News (August 21, 2008) - Russia has halted all military cooperation with NATO, the Western alliance said Thursday, in the latest sign of East-West tension over the invasion of Georgia. NATO spokeswoman Carmen Romero said the alliance had received notification through military channels that Russia's Defense Ministry had taken a decision "to halt international military cooperation events between Russia and NATO countries until further instructions." She said NATO "takes note" of the decision, but had no further reaction. On Tuesday, NATO foreign ministers said they would make further ties with Russia dependent on Moscow making good on a pledge to pull its troops back to pre-conflict positions in Georgia. However, they stopped short of calling an immediate halt to all cooperation. Under a 2002 agreement that set up the NATO-Russia Council, the former Cold War foes began several cooperation projects. They include sharing expertise to combat heroin trafficking out of Afghanistan, developing battlefield anti-missile technology, joint exercises and help with rescue at sea. Romero said she was unaware of any specific events under the cooperation agreement scheduled before early September. NATO itself decided last week to suspend plans for a Russian warship to join NATO counterterrorism patrols in the Mediterranean Sea, deciding it was inappropriate in the wake of the eruption of fighting in Georgia.
| Gog/Magog | EU/UN / 4th Kingdom | America |

Norway: Russia to cut all military ties with NATO Associated Press (August 20, 2008) - Russia has informed Norway that it plans to suspend all military ties with NATO, Norway's Defense Ministry said Wednesday, a day after the military alliance urged Moscow to withdraw its forces from Georgia. NATO foreign ministers said Tuesday they would make further ties with Russia dependent on Moscow making good on a pledge to pull its troops back to pre-conflict positions in Georgia. However, they stopped short of calling an immediate halt to all cooperation. The Nordic country's embassy in Moscow received a telephone call from "a well-placed official in the Russian Ministry of Defense," who said Moscow plans "to freeze all military cooperation with NATO and allied countries," Espen Barth Eide, state secretary with the Norwegian ministry said. Eide told The Associated Press that the Russian official notified Norway it will receive a written note about this soon. He said Norwegian diplomats in Moscow would meet Russian officials on Thursday morning to clarify the implications of the freeze. "It is our understanding that other NATO countries will receive similar notes," Eide said. The ministry said the Russian official is known to the embassy, but Norway declined to provide a name or any further identifying information. A Kremlin official declined to comment on the report, and the Russian ambassador to NATO did not reply to messages left on his cell phone. But the Interfax news agency, citing what it called a military-diplomatic source in Moscow whom it did not identify, reported that Russia is reviewing its 2008 military cooperation plans with NATO. Officials at NATO headquarters in Brussels said Moscow had not informed the alliance it was taking such a step. Washington described the reported move as unfortunate. more...
| Gog/Magog | EU/UN / 4th Kingdom | America |

As US Looks to Improve Ties, Libya Positions Itself in Russia’s Corner CNS News (August 19, 2008) - At a time when the U.S. is moving towards full normalization of relations with Libya, Muammar Gaddafi’s son has made it clear that the North African nation is looking to Russia as its strategic partner. In a little-noticed interview with Russia’s Kommersant business daily, Seif al-Islam Gaddafi said Moscow’s resurgence, demonstrated by this month’s military incursion into Georgia, was a positive development for the Arab world. “What happened in Georgia is a good sign, which means America is no longer the sole world power setting the rules of the game,” Gaddafi said. “Now there is balance in the world. Russia is being reborn, and we value that. It is very good for us, for all of the Middle East,” he said. Gaddafi, who runs a charity called the Gaddafi Foundation, has frequently undertaken diplomatic missions on behalf of his father. The second oldest of seven sons, the 35-year-old is sometimes named as a possible successor to the unpredictable Libyan leader but has denied ambitions to rule the north African country – a position he reiterated in the Kommersant interview. The published interview appeared on the same day that the U.S. government announced a breakthrough agreement with Libya on compensation for terror victims, paving the way for the full normalization of bilateral ties. Asked whether his strong statements were not risking Libya’s newly-improved ties with the U.S., Gaddafi told the Russian paper that although his country has good relations with both the West and Russia, “Libya chose Russia as its strategic partner.” “Of course, Russia is our strategic partner, and we cannot compare it with any other country for closeness. That’s obvious.” Gaddafi said Libya backed Moscow’s position that Georgia had initiated the recent conflict – by mounting an offensive against separatists in a Russian-backed breakaway province – and forced a Russian military response. Libya would back Russia in the U.N. Security Council, he said. Libya, which has been improving relations with the West since pledging to stop supporting terrorism and shutting down its non-conventional weapons programs, in January began a two-year stint on the council. Its conduct there has at times drawn strong criticism. more...
| Gog/Magog | America |

Russia: Poland risks attack due to U.S. missiles MSNBC (August 15, 2008) - A top Russian general said Friday that Poland's agreement to accept a U.S. missile interceptor base exposed the ex-communist nation to attack, possibly by nuclear weapons, the Interfax news agency reported. The statement by Gen. Anatoly Nogovitsyn was the strongest threat that Russia issued against the plans to put missile defense elements in former Soviet satellite nations. Poland and the United States on Thursday signed a deal for Poland to accept a missile interceptor base as part of a system the United States said was aimed at blocking attacks by rogue nations. Moscow, however, felt it was aimed at Russia's missile force. "Poland, by deploying (the system) is exposing itself to a strike — 100 percent," Nogovitsyn, the deputy chief of staff, was quoted as saying. He added, in clear reference to the agreement, that Russia's military doctrine sanctions the use of nuclear weapons "against the allies of countries having nuclear weapons if they in some way help them." Nogovitsyn that would include elements of strategic deterrence systems, he said, according to Interfax. At a news conference earlier Friday, Nogovitsyn had reiterated Russia's frequently stated warning that placing missile-defense elements in Poland and the Czech Republic would bring an unspecified military response. But his subsequent reported statement substantially stepped up a war of words. more...
| Gog/Magog | America |

Europe's major economies contract BBC News (August 14, 2008) - The 15 economies of the eurozone contracted by 0.2% between April and June, heightening fears that the euro area is sliding towards recession. The eurozone's first decline since it was created in 1999 was driven by a slowdown in exports and consumer spending. The German economy, Europe's largest, shrank by 0.5% in the second quarter compared with the previous quarter. And in both France and Italy GDP shrank by 0.3% in the second quarter. The slowdown was less pronounced in the wider European community of 27 nations including the UK, which contracted by 0.1%. However Estonia, where the economy contracted for the second consecutive quarter, is now considered to be in recession. Ireland, whose economy contracted in the first quarter of the year, has not yet released its second quarter growth figures. Compared to the second quarter of 2007, the eurozone economies grew by 1.5% and the 27 European Union countries grew by 1.7%. The news weakened the euro, which was already well down from its recent highs against the dollar. But high eurozone inflation, which was unchanged on the month, made it unlikely that the European Central Bank, which raised interest rates last month, will reverse its stance. Spain was the only one of the major eurozone economies to see its economy expand between April and June. It grew by 0.1% compared with the previous quarter. Figures also released on Thursday showed that prices across the euro area rose by 4% in July compared to a year earlier. The European Central Bank increased interest rates in July by 025% to 4.25% in a bid to combat rising prices. The July figure is the same as June's inflation rate, but although the rate of increase is not quickening, economists said rising prices were still a concern. "Although inflation has been stable at 4.0 % in July, it is still way above target," said Jörg Radeke from the Centre for Economics and Business Research. "Hence, the possibility that the European Central Bank is cutting interest rates in 2008 to support the sickening economy is remote." more...
| EU/UN / 4th Kingdom | America | Economic Crisis |

America isn't the only economy that will be need to be replaced by a global cashless economy if it is truly global. The question is if this is the time of collapse just before the introduction. I don't know, but I'm still watching.

Report: Judge Says University Can Deny Course Credit to Christian Graduates Taught With Creationism Texts Fox News (August 13, 2008) - A federal judge has ruled the University of California can deny course credit to Christian high school graduates who have been taught with textbooks that reject evolution and declare the Bible infallible, the San Francisco Chronicle reported. U.S. District Judge James Otero of Los Angeles ruled Friday that the school's review committees did not discriminate against Christians because of religious viewpoints when it denied credit to those taught with certain religious textbooks, but instead made a legitimate claim that the texts failed to teach critical thinking and omitted important science and history topics. Charles Robinson, the university's vice president for legal affairs, told the Chronicle that the ruling "confirms that UC may apply the same admissions standards to all students and to all high schools without regard to their religious affiliations." But a lawyer for the Association of Christian Schools International, two Southern California high schools and several students who brought about the initial lawsuit in 2005 told the Chronicle that the ruling would be appealed in the 9th U.S. Circuit Court of Appeals in San Francisco. "It appears the UC is attempting to secularize private religious schools," attorney Jennifer Monk told the Chronicle. The paper said rejected texts include a book for the course Christianity's Influence on America, published by Bob Jones University, which "instructs the Bible is the unerring source for analysis of historical events" and "Biology for Christian Schools," whose first page says "if [scientific] conclusions contradict the Word of God, the conclusions are wrong," Otero wrote in his ruling.
| Signs of the Times | America |

Won't these people who deny the Bible feel and be seen as fools when the Truth is made evident to all. In reality, the Truth is clearly seen by what is made, yet there are still those who prefer to deny the Truth and consider themselves to be wise, becoming fools. The things of God are considered foolishness by the world, but for all eternity the Truth will remain as God declared it in His Word and those who reject it will be rejected by their own choice. More on Creation vs. Evolution

Romans 1:20-25
For the invisible things of him from the creation of the world are clearly seen, being understood by the things that are made, even his eternal power and Godhead; so that they are without excuse: Because that, when they knew God, they glorified him not as God, neither were thankful; but became vain in their imaginations, and their foolish heart was darkened. Professing themselves to be wise, they became fools, And changed the glory of the uncorruptible God into an image made like to corruptible man, and to birds, and fourfooted beasts, and creeping things. Wherefore God also gave them up to uncleanness through the lusts of their own hearts, to dishonour their own bodies between themselves: Who changed the truth of God into a lie, and worshipped and served the creature more than the Creator, who is blessed for ever. Amen.

2 Peter 3:3-9
Knowing this first, that there shall come in the last days scoffers, walking after their own lusts, And saying, Where is the promise of his coming? for since the fathers fell asleep, all things continue as they were from the beginning of the creation. For this they willingly are ignorant of, that by the word of God the heavens were of old, and the earth standing out of the water and in the water: Whereby the world that then was, being overflowed with water, perished: But the heavens and the earth, which are now, by the same word are kept in store, reserved unto fire against the day of judgment and perdition of ungodly men. But, beloved, be not ignorant of this one thing, that one day is with the Lord as a thousand years, and a thousand years as one day. The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.

U.S. green lights anything into oil WorldNet Daily (August 13, 2008) - A Georgia company looking to solve America's energy problem has finally teamed up with the federal government, hoping to make millions of barrels of oil every day from virtually anything that grows out of the Earth. Bell Bio-Energy, Inc. says it has reached an agreement with the U.S. Defense Department to build seven test production plants, mostly on military bases, to quickly turn naturally grown material into fuel. "What this means is that with the seven pilot plants – the military likes to refer to them as demonstrations – with those being built … it gives us the real-time engineering data that we need to finish the designs for a full-scale production facility," J.C. Bell, the man behind the project, told WND today. "In 18 months or so, we will start manufacturing oil directly from waste and we will build up to about 500,000 barrels a day within two years. In another six months, we'll reach a million barrels a day." As the United States now imports about 13 million barrels of oil a day, the only obstacle then to total energy independence from foreign sources will be the money needed to develop the processing plants, he said. "Working with the USDA we've identified enough waste material around the country, we truly believe we can make the United States totally energy independent of foreign countries in about five years," he said. WND originally reported on the project in March as Bell, an agricultural researcher, confirmed he'd isolated and modified specific bacteria that will, on a very large scale, naturally and rapidly convert plant material – including the leftovers from food – into hydrocarbons to fuel cars and trucks. That means trash like corn stalks and corn cobs – even the grass clippings from suburban lawns – can be turned into oil and gasoline to run trucks, buses and cars. He said he made the discovery standing downwind from his cows at his food-production company, Bell Plantation, in Tifton, Ga. "Cows are like people that eat lots of beans. They're really, really good at making natural gas," he said. "It dawned on me that that natural gas was methane." WND also reported how the national news media more or less ignored his announcement of a potential solution to America's dependence on Middle East nations for its oil. But the U.S. military was listening. And Bell now confirms his agreement with the Department of Defense, the Defense Energy Support Center and the Army will have seven demonstration facilities built at Fort Benning and Fort Stewart in Georgia, Fort Bragg in North Carolina, Fort AP Hill in Virginia, Fort Drum in New York and Fort Lewis in Washington, as well as one more installation in San Pedro, Calif. "We should have all of the plants running within 60 days," he said. "This is a big step in our growth, from the engineering that we develop with these plants, we will be able to build our full-scale production facilities and be in full production in the next 12 to 18 months. "Everyone now accepts the fact that we can make oil through bacterial action and now it is just a matter of time and money until we are turning out one million to two million barrels per day," he said. more...
| Technology | America |

Fed holds first auction for 84-day loans Yahoo Finance News (August 12, 2008) - The Federal Reserve has auctioned another $25 billion in loans to the nation's banks and given them more time to pay the money back in an effort to combat a serious credit squeeze. The Fed announced Tuesday that the money would be loaned at a rate of 2.754 percent. In the latest auction, the Fed offered the loans for an extended period of 84 days, rather than the 28-day period for the previous loans. It marked the Fed's latest attempt to be innovative in providing the nation's banking system with the cash it needs to combat a serious credit crisis stemming from mounting mortgage loan losses. The credit squeeze hit with force a year ago and the central bank has shoveled out billions of dollars in loans. From September through April it also was aggressively cutting interest rates to keep the financial turmoil from pushing the country into a deep recession. The Fed's interest-rate setting panel met again last week and for the second meeting held interest rates unchanged amid concerns that lowering rates further could stoke inflation pressures. Fed policymakers instead indicated that they are likely to hold rates steady for an extended period. That signal bolstered financial markets that had been worried higher inflation pressures might prompt the Fed to start raising rates even though the economy remains weak. The latest Fed auction was held on Monday with the results announced Tuesday. It saw 64 bidders seeking a total of $54.8 billion in funds. The Fed had announced that it would auction off $25 billion for 84 days. In two weeks the Fed will auction $75 billion in loans for 28 days. The Fed began the auction process last December in an effort to increase use of its discount window borrowing facility, believing that the auctions would help remove the stigma that banks feared was attached to their petitioning for direct loans from the Fed's discount window.
| America | Economic Crisis |

You can learn some more about the Fed's history and the magic that is our financial system here, here, here and here.

Russia Deploys Ships, Expands Georgia Bombing Blitz Fox News (August 10, 2008) - Russia battled Georgian forces on land and sea, reports said late Sunday, despite a Georgian cease-fire offer and its claim to be withdrawing from South Ossetia, the separatist Georgian province battered by days of intense fighting. Russia claimed to have sunk a Georgian boat that was trying to attack Russian vessels in the Black Sea, and Georgian officials said Russia sent tanks from South Ossetia into Georgia proper, heading toward a strategic city before being turned back. Russian planes on Sunday twice bombed an area near the Georgian capital's airport, officials said. The violence appeared to show gargantuan Russia's determination to subdue diminutive, U.S.-backed Georgia, even at the risk of international reproach. Russia fended off a wave of international calls to observe Georgia's cease-fire, saying it must first be assured that Georgian troops have indeed pulled back from South Ossetia. International envoys were heading in to try to end the conflict before it spreads throughout the Caucasus, a region plagued by ethnic tensions. But it was unclear what inducements or pressure the envoys could bring to bear, or to what extent either side was truly sensitive to world opinion. Georgian President Mikhail Saakashvili said one of the Russian raids on the airport area came a half hour before the arrival of the foreign ministers of France and Finland — in the country to try to mediate. Georgian Interior Ministry spokesman Temur Yakobashvili said Russian tanks tried to cross from South Ossetia into the territory of Georgia proper, but were turned back by Georgian forces. He said the tanks apparently were trying to approach Gori, but did not fire on the city of about 50,000 that sits on Georgia's only significant east-west highway. Russia also sent naval vessels to patrol off Georgia's Black Sea coast, but denied Sunday that the move was aimed at establishing a blockade. The ITAR-Tass news agency quoted a Russian Defense Ministry spokesman as saying that Georgian missile boats twice tried to attack Russian ships, which fired back and sank one of the Georgian vessels. South Ossetia broke away from Georgian control in 1992. Russia granted passports to most of its residents and the region's separatist leaders sought to absorb the region into Russia. Georgia, whose troops have been trained by American soldiers, began an offensive to regain control over South Ossetia overnight Friday, launching heavy rocket and artillery fire and air strikes that pounded the regional capital Tskhinvali. Georgia says it was responding to attacks by separatists. In response, Russia launched massive artillery shelling and air attacks on Georgian troops. Russia's Deputy Foreign Minister Grigory Karasin said more than 2,000 people had been killed in South Ossetia since Friday, most of them Ossetians with Russian passports. The figures could not be independently confirmed. The scope of Russia's military response has the Bush administration deeply worried. "We have made it clear to the Russians that if the disproportionate and dangerous escalation on the Russian side continues, that this will have a significant long-term impact on U.S.-Russian relations," U.S. deputy national security adviser Jim Jeffrey told reporters. The U.S. military began flying 2,000 Georgian troops home from Iraq after Georgia recalled them, even while calling for a truce. "Georgia expresses its readiness to immediately start negotiations with the Russian Federation on a cease-fire and termination of hostilities," the Georgian Foreign Ministry said in a statement, adding that it had notified Russia's envoy to Tbilisi. But Russia insisted Georgian troops were continuing their attacks. Alexander Darchiev, Russia's charge d'affairs in Washington, said Georgian soldiers were "not withdrawing but regrouping, including heavy armor and increased attacks on Tskhinvali." "Mass mobilization is still under way," he told CNN's "Late Edition." President Bush sought to contain the conflict in Georgia on Sunday as the White House warned that "Russian aggression must not go unanswered." Bush, in Beijing for the Olympics, has pressed for international mediation and reached out Sunday to French President Nicolas Sarkozy, who heads the European Union. The two agreed on the need for a cease-fire and a respect for Georgia's integrity, a White House spokesman said. more...
| Gog/Magog | EU/UN / 4th Kingdom | America |

Michael Savage vows to take Islam fight to Supreme Court WorldNet Daily (August 10, 2008) - Talk-radio host Michael Savage has announced he will bring his recently dismissed copyright infringement lawsuit against the Council on American-Islamic Relations to the U.S. Supreme Court in hopes of making public the Islamic group's sources of funding. Savage's suit – originally filed in San Francisco district court – alleged CAIR illegally published singled-out quotes and audio excerpts from his show regarding Islam, misappropriated his words and used the clips for its own fundraising purposes, damaging the value of his copyrighted material. CAIR last year waged a public campaign using excerpted Savage remarks to urge advertisers to boycott his top-rated program. CAIR stated its campaign successfully resulted in Savage losing $1 million in advertising. Part of Savage's lawsuit alleged CAIR received millions in foreign funding and that it may have been wrongfully acting as a lobbyist or agent for a foreign government, violating the Islamic group's nonprofit status. Savage also alleged CAIR was engaged in racketeering, describing the group as a "mouthpiece of international terror" that helped fund the 9/11 attacks, a contention strongly denied by CAIR. But his lawsuit was tossed last month by San Francisco District U.S. Judge Susan Illston, who argued it is legal to use excerpts of a public broadcast for purposes of comment and criticism. Illston, nominated to her position by President Bill Clinton, wrote in her ruling that Savage could try to rewrite the racketeering portion of his suit to better fit the specifics of his case. Savage's attorney Daniel Horowitz told WND he is reworking the suit to directly address Illston's "respectful" ruling. He said the new suit includes over 200 pages of supporting documents, including 200 pages of transcripts of the meeting in which CAIR was founded. In May 2007, CAIR was identified by the government as an unindicted co-conspirator in a case involving the Holy Land Foundation, a charity allegedly affiliated with Hamas. Federal prosecutors in the case listed CAIR under the category: “Individuals/entities who are and/or were members of the US Muslim Brotherhood’s Palestine Committee and/or its organizations.” The government also listed Omar Ahmad, CAIR's founder and chairman emeritus, under the same category. CAIR is registered as a nonprofit organization recognized as tax-exempt under IRS codes, which restrict "lobbying on behalf of a foreign government." CAIR's website claims it receives no foreign government support. But CAIR's headquarters near the U.S. Capitol until recently was owned by the ruler of Dubai, United Arab Emirates, and the ruler's foundation has pledged $50 million to capitalize a long-term CAIR public-relations campaign. The UAE formally recognized the Taliban, and Dubai reportedly acted as the transit point for cash for the 9/11 hijackers. Two of the hijackers were from the Emirates, and one served in the UAE military. Until 2005, the Al Maktoum Foundation run by Dubai's ruler Sheik Mohammed bin Rashid held the deed to CAIR's headquarters just three blocks from the Capitol. The same foundation reportedly has held telethons to raise money for families of Palestinian "martyrs" during the intifada – or terrorist war – started in September 2000 against Israel. It recently pledged a $50 million endowment for CAIR. CAIR argues that any assertions it receives money from foreign governments is "disinformation." "This is yet another attempt to invent a controversy," the group said. "CAIR's operational budget is funded by donations from American Muslims." CAIR, however, has never publicly acknowledged $1 million controlling interest that the ruler of Dubai's foundation took in its national headquarters just one year after 9/11. The group also received $500,000 from Saudi Prince Al-Waleed bin Talal, the sheik whose $10 million relief check after 9/11 was rejected by then-New York Mayor Rudy Giuliani after he blamed U.S. policy toward Israel for the attacks. "There is nothing criminal or immoral about accepting donations from foreign nationals," CAIR asserted. "The U.S. government, corporations and non-profit organizations routinely receive money from foreign nationals." "Bin Talal is not a member of the Saudi Arabian government," the group added in a statement. "He is a private entrepreneur and international investor." This may be a distinction without a difference, Savage's lawyers argue, since bin Talal is a member of the Saudi ruling family. "CAIR is proud to receive support of every individual," CAIR argued, "as long as they are not an official of any foreign government and there are no strings attached to the bequest." The UAE endowment to CAIR was specifically earmarked for public relations efforts to repair the image of Arabs and Muslims in America after public outrage doomed a Dubai bid to run U.S. ports. Lawyers for Savage argue that CAIR may have used UAE funds and other foreign support to attack the radio host. more...
| Islam | America |

Credit crisis triggers unprecedented response The Washington Post (August 8, 2008) - Since the credit crisis erupted a year ago, the Bush administration has presided over one of the broadest expansions of the government into private lending in U.S. history, risking public money to prop up financial firms both large and small. The administration has transformed federal agencies into dominant players in such diverse realms as student lending and mortgage finance while exposing itself to trillions of dollars in loans. The scope of these commitments demonstrates the unprecedented nature of the challenge facing the nation. Not since the Great Depression have so many debt markets been in turmoil at the same time, financial historians say. During the savings and loan crisis of the late 1980s and early 1990s, for example, the financial upheaval was largely contained to banks and thrifts, though the real estate market also felt the impact. Now, the contagion has rapidly spread from mortgages to bonds and exotic securities, student and corporate lending, credit cards and home equity loans, and residential and commercial real estate. The disruption has buffeted investment and commercial banks, mortgage finance agencies, and insurance firms of different stripes. "We have a banking crisis and an agency crisis and a mortgage crisis and a coming credit card crisis. We've never seen anything like that before. And it all seems to be coming home to roost at the same time. That's never happened either," said Charles Geisst, professor of finance at Manhattan College. He said the Great Depression was the last time financial markets were hammered by such a variety of factors. "But we did not even have credit cards in the 1930s; there were no such thing as student loans," he added. The breadth and speed of events have sent federal officials scrambling to plug leaks in the financial system. In the process, the government has bound taxpayers to the fate of a wide variety of banks and borrowers and could ultimately be responsible for losses in the tens of billions of dollars or more, according to estimates by congressional reports and interviews with regulators. But the government may also end up paying nothing at all, largely because it received collateral in return for backing much of these debts and could recoup some money if borrowers stop making their interest payments. No one knows for sure because much of the government's response involved novel programs designed to contain an unpredictable crisis. As the credit crisis worsened, Treasury Secretary Henry M. Paulson Jr., a strong proponent of free markets and the architect of much of the administration's response, began to push initiatives that enlarged the government's involvement on Wall Street and in the housing industry. "What I've said is that I'm playing the hand that was dealt and that my responsibility is to protect the U.S. economy and the American people," Paulson said in an interview. The pace of these interventions accelerated as the credit crisis spread across the capital markets. At first, the administration avoided programs that exposed taxpayers to potentially large losses. The Federal Housing Administration, for instance, offered struggling mortgage holders a chance to refinance into low-cost loans backed by the government with any losses borne by the agency's insurance fund. Last summer, Paulson also pressed private mortgage lenders to form an alliance called Hope Now to rework mortgages. The initiative did not require public funds, except to set up a hotline, and it may have prevented lawmakers at that time from pursuing more expensive initiatives, he said. Within months, however, Paulson was directing more significant intrusions into the markets. In March, he strongly endorsed the Fed leaders' decision to put $29 billion in public money on the line to facilitate the takeover of the crippled investment firm Bear Stearns by Wall Street bank J.P. Morgan Chase. In April, Paulson helped the Department of Education set up emergency programs to ensure students could get loans as private lenders fled the business because of trouble in the credit markets. Education officials ramped up their direct lending, which some analysts say could reach $75 billion, and got new authority from Congress to buy loans outright from lenders. Then, last month, Paulson pushed for new authority to lend or invest in mortgage giants, Fannie Mae and Freddie Mac, which the Congressional Budget Office said could impose a wide range of costs to taxpayers, from nothing to more than $100 billion. Along the way, the Fed was injecting money into the banking system, including through several new, unusual programs. In negotiations over the Bear Stearns rescue, the Fed agreed to back $30 billion worth of risky mortgage assets but persuaded J.P. Morgan to absorb the first $1 billion of any losses. At the end of July, the portfolio was worth $29.1 billion, according to the central bank. Because the Fed can be patient and sell the assets gradually over time, officials believe taxpayers are highly unlikely to lose more than a couple billion dollars and the central bank may ultimately make some money. more...
| NewWorldOrder | America | Economic Crisis |

This all seems to be leading to a point where our current financial system could be most easily replaced by a global cashless system and the nations indebted to those with wealth and power would have no alternatives but to join the global banking system that offers stability and security, forgiving debts in exchange for allegiance. I don't think this will be fully implemented until after the abomination of desolation, but I also believe that we're building up to that point now. Keep watching!

Third Aleutian Volcano Erupts Explosively USGS (August 8, 2008) - Kasatochi Volcano in Alaska's Aleutian Islands erupted explosively Aug. 7, sending an ash plume more than 35,000 feet into the air and forcing two biologists from the U.S. Fish and Wildlife Service to evacuate the island. "Kasatochi went from a quiet volcano to an explosive eruption within 24 hours and with very little warning," said USGS volcano scientist Marianne Guffanti. "We are thankful our colleagues were able to get out before the eruption began. They were rescued just in time by a local fishing boat." Kasatochi is the third volcano to erupt in the Aleutian Islands in three weeks. Okmok Volcano erupted unexpectedly and explosively on July 12, followed by Cleveland Volcano, 100 miles away, on July 21. Both volcanoes sent ash plumes skyrocketing and caused commercial airline flights to be diverted or cancelled. Scientists relied on seismic instruments on other volcano networks in the area to detect activity at Kasatochi volcano. "Fortunately, the existing seismic networks on nearby volcanoes picked up the activity at Kasatochi volcano," said Tom Murray, scientist-in-charge of the Alaska Volcano Observatory (AVO). "They were installed with funding from the Federal Aviation Administration to reduce the hazard to aviation from volcanic ash. These networks were crucial in recognizing that this volcano had entered the first stage of a major eruption." "Our hope is to have monitoring equipment on all volcanoes that pose the greatest threats to public safety," said Guffanti. "Satellite imagery is useful to see the big picture of what is happening and what is going into the atmosphere. But direct instrumentation, such as placing seismic monitors around a volcano, will help give an early warning and give people more time to plan for hazardous events." Scientists are working around the clock to monitor the volcanoes and keep the public and emergency responders informed.
| America | Earth Changes |

'2 US aircraft carriers headed for Gulf' The Jerusalem Post (August 7, 2008) - Two additional United States naval aircraft carriers are heading to the Gulf and the Red Sea, according to the Kuwaiti newspaper Kuwait Times. Kuwait began finalizing its "emergency war plan" on being told the vessels were bound for the region. The US Navy would neither confirm nor deny that carriers were en route. US Fifth Fleet Combined Maritime Command located in Bahrain said it could not comment due to what a spokesman termed "force-protection policy." While the Kuwaiti daily did not name the ships it believed were heading for the Middle East, The Media Line's defense analyst said they could be the USS Theodore Roosevelt and the USS Ronald Reagan. Within the last month, the Roosevelt completed an exercise along the US east coast focusing on communication among navies of different countries. It has since been declared ready for operational duties. The Reagan, currently with the Seventh Fleet, had just set sail from Japan. The Seventh Fleet area of operation stretches from the East Coast of Africa to the International Date Line. Meanwhile, the Arabic news agency Moheet reported at the end of July that an unnamed American destroyer, accompanied by two Israeli naval vessels traveled through the Suez Canal from the Mediterranean. A week earlier, a US nuclear submarine accompanied by a destroyer and a supply ship moved into the Mediterranean, according to Moheet. Currently there are two US naval battle groups operating in the Gulf: one is an aircraft carrier group, led by the USS Abraham Lincoln, which carries some 65 fighter aircraft. The other group is headed by the USS Peleliu which maintains a variety of planes and strike helicopters. The ship movements coincide with the latest downturn in relations between Washington and Teheran. The US and Iran are at odds over Iran's nuclear program, which the Bush administration claims is aimed at producing material for nuclear weapons; however, Teheran argues it is only for power generation. Kuwait, like other Arab countries in the Gulf, fears it will be caught in the middle should the US decide to launch an air strike against Iran if negotiations fail. The Kuwaitis are finalizing details of their security, humanitarian and vital services, the newspaper reported. The six members of the Gulf Cooperation Council (GCC) - Kuwait, Saudi Arabia, Bahrain, Qatar, the UAE and Oman - lie just across the Gulf from Iran. Generals in the Iranian military have repeatedly warned that American interests in the region would be targeted if Iran is subjected to any military strike by the US or its Western allies. Bahrain hosts the US Fifth Fleet, while there is a sizeable American base in Qatar. It is assumed the US also has military personnel in the other Gulf states, The Media Line's defense analyst said. Iran is thought to have intelligence operatives working in the GCC states, according to Dubai-based military analysts. The standoff between the US and Iran has left the Arab nations' political leaders in something of a bind, as they were being used as pawns by Washington and Teheran, according to The Media Line analyst. Iran has offered them economic and industrial sweeteners, while the US is boosting their defense capabilities. US President George W. Bush and Iranian President Mahmoud Ahmadinejad have paid visits to the GCC states in a bid to win their support.
| Iran | Islam | America |

Are feds stockpiling survival food? WorldNet Daily (July 25, 2008) - A Wall Street Journal columnist has advised people to "start stockpiling food" and an ABC News Report says "there are worrying signs appearing in the United States where some … locals are beginning to hoard supplies." Now there's concern that the U.S. government may be competing with consumers for stocks of storable food. "We're told that the feds bought the entire container of canned butter when it hit the California docks. (Something's up!)," said officials at Best Prices Storable Foods in an advisory to customers. Spokesman Bruce Hopkins told WND he also has had trouble obtaining No. 10 cans of various products from one of the world's larger suppliers of food stores, Oregon Freeze Dry. He said a company official told him on the telephone when he discussed the status of his order that it was because the government had purchased massive quantities of products, leaving none for other customers. That, however, was denied by Oregon Freeze Dry. In a website statement, the company confirmed it cannot assure supplying some items to customers. "We regret to inform you Oregon Freeze Dry cannot satisfy all Mountain House #10 can orders and we have removed #10 cans from our website temporarily," the company tells frustrated customers. "The reason for this is sales of #10 cans have continued to increase. OFD is allocating as much production capacity as possible to this market segment, but we must maintain capacity for our other market segments as well." The company statement continues, "We want to clarify inaccurate information we’ve seen on the Internet. This situation is not due to sales to the government domestically or in Iraq. We do sell products to this market, but we also sell other market segments … The reason for this decision is solely due to an unprecedented sales spike in #10 cans sales. "We expect this situation to be necessary for several months although this isn’t a guarantee. We will update this information as soon as we know more. We apologize for this inconvenience and appreciate your patience. We sincerely hope you will continue to be Mountain House customers in the future," the company statement said. But Hopkins wasn't backing away from his concerns. "The government just came in and said they're buying it. They did pay for it," he told WND about the summertime shipment of long-term storage butter. "They took it and no one else could have it. "We don't know why. The feds then went to freeze dried companies, and bought most of their canned stock," he said. more...
| America |

IMF Contemplates System Failure. Could it be the 1.2 Quadrillion in Derivatives? McAlvany Weekly Commentary (July 30, 2008)
| America | Economic Crisis |

U.S. companies vulnerable to foreign buyers Reuters (July 29, 2008) - With a record volume of international takeovers of U.S. companies, it almost appears America itself is up for sale. The weak dollar and slumping stock prices of U.S. companies has created a window of opportunity for international buyers to snatch up American icons such as beer brewer Anheuser-Busch Cos Inc and the landmark Chrysler Building in New York. "The dollar has depreciated so much that America is on the sale rack," said Sung Won Sohn, a professor of economics at California State University. "America has such an appetite for foreign goods -- Chinese imports and oil -- that U.S. dollars have gone overseas. Now, many Americans aren't happy that foreign companies are buying pieces of America with the money we gave them in the first place," Sohn said. In the second quarter, acquisitions of U.S. companies by international buyers totaled $124.3 billion, marking the highest total for any second quarter on record and jumping 23 percent over the year-earlier quarter, according to research firm Dealogic. International takeovers represented 22 percent of all U.S. merger activity in the first half of the year, up from 17 percent in the first half of 2007, according to research firm Dealogic. InBev NV's deal to acquire Anheuser-Busch for $52 billion gave Belgium the distinction of being the most active foreign buyer of U.S. assets in the first half of this year, followed by Spain and Canada, Dealogic said. The Anheuser-Busch deal ranked as the second-biggest cross-border acquisition of a U.S. company in history, following Vodafone Group Plc's  $60.3 billion acquisition of AirTouch Communications in 1999, according to Thomson Reuters. Other U.S. assets recently falling into international hands include Barr Pharmaceuticals Inc, which agreed to be acquired by Israel's Teva Pharmaceutical Industries Ltd, the world's largest generic drug company, for $7.46 billion; and eye care company Alcon Inc which is being bought by Switzerland's Novartis AG for about $27.7 billion. Earlier this month, Swiss drugmaker Roche AG made a bid to acquire the shares of its U.S. partner Genentech Inc it does not already own for $43.7 billion. Even the Pennsylvania Turnpike awarded long-term leasing rights to a Spanish-led investor group for $12.8 billion. Although some investment bankers and analyst pin the spike in cross-border activity to the weak dollar, others contend that strategy and the desire to expand globally were the motivators behind many of these recent corporate deals. "Strategic buyers don't wake up in the morning and say: 'This currency is cheap. I'm going to go do a deal.' They do a deal because it's strategic and makes sense," said Herald Ritch, president and co-chief executive officer of investment bank Sagent Advisers. "There's no question that, on the margin, currency levels tend to influence decisions, but strategic deals get done because they fit a company's strategy," Ritch said. European companies have been the most active buyers of U.S. assets, with 314 deals so far this year, compared with 117 deals by Asian acquirers, and 33 by African and Middle Eastern buyers, according to Thomson Reuters. "Europe and the U.S. dominate deal activity globally, so it makes sense that deals between those areas would predominate," Ritch said. Although some investment bankers view the second quarter's record pace of U.S. takeovers as an anomaly, Sohn said the 13-percent depreciation of the dollar against major currencies over the past 18 months should fuel more acquisitions. "There are trillions of dollars overseas that have to be put to work. This is just the tip of the iceberg," Sohn said.
| EU/UN / 4th Kingdom | NewWorldOrder | America | Economic Crisis |

How does Europe become the international power and authority Bible prophecy says it will be? Slowly and surely, bit by bit. Sung Won Sohn makes the statement that "America has such an appetite for foreign goods -- Chinese imports and oil -- that U.S. dollars have gone overseas." Have you noticed that you can't buy anything that isn't made in China today? I certainly haven't had any great desire to see manufacturing go overseas as it has, but policy has pushed it there because it's cheaper and this world, especially the business world, runs on money. America doesn't have many options when it comes to its desire for Chinese imports because business and government have created it this way. Is there an over-arching plan behind it? Given what Bible prophecy says and where we're headed, it's hard for me to deny the dots are connected. There's so much more out there relegated to "conspiracy theory" as well which all points toward the same conclusions. America is being sold out and this will help prop Europe up as the center it is prophesied to be. America is ceding power to Europe and being drained of its manufacturing ability and strength. Business and law are moving internationally, globally and what is a possible end to this? A nation in debt who will be forgiven that debt along with the rest of the world if they just take a mark and worship the man of sin who claims to be God. The technology and methodology is already present and easily implementable while the conditions that would call for its implementation are fast approaching in line with other signs of the times. Bible prophecy isn't fairy tales, it's foreknowledge dictated by God for the benefit of those who trust God's Word and to make us aware and awake as the time draws near. Keep watching!

California 'dodges bullet' as 5.4 earthquake rocks region Breitbart.com (July 29, 2008) - A 5.4 magnitude earthquake shook Southern California on Tuesday, spooking millions from Los Angeles to San Diego in a juddering reminder of the region's vulnerability to seismic shocks. No major injuries or damage were reported following the quake, which struck at 11:42 am (1842 GMT) near the town of Chino Hills, 33 miles (50 kilometers) east of Los Angeles at a depth of 7.6 miles (12 kilometers), the US Geological Survey said. The tremor was felt across Los Angeles, with the office block housing AFP's bureau on Sunset Boulevard in Hollywood swaying and shuddering after the quake. Offices and restaurants could be seen evacuating workers and customers. The quake, which was followed by 27 minor aftershocks, rippled across California and Nevada, rattling city officials in San Diego, tourists in Disneyland and residents as far east as Las Vegas, officials said. California Governor Arnold Schwarzenegger said the region had been lucky to avoid a major disaster.
"Thank God that there have not been any reports of serious injuries or damage to properties," Schwarzenegger said. "This reminds us once again that in California we have to be prepared for anything and everything." Henry Renteria, the director of California's Office of Emergency Services, said he expected to receive reports of minor damage as the day progressed. "But luckily, I think we dodged a bullet here, and have not seen any major issues with this event," Renteria told reporters. USGS official Kate Hutton said the earthquake was unlikely to have caused major damage to buildings. "Things will have fallen off shelves, but I'd be surprised to see some structural damage," Hutton told reporters. Hutton said the chance of the quake being a foreshock to a bigger temblor were five percent. "Most of that risk is in the first day," she said. "Actually, most of the risk is in the first two hours, but by the time you get 24 hours after the earthquake it's down to about one percent." Los Angeles' acting mayor Wendy Greuel said five people suffered minor injuries, including two people who were trampled as they evacuated a building. more...
| America | Earth Changes |

U.S. Intel: Iran Plans Nuclear Strike on U.S. Newsmax (July 29, 2008) - Iran has carried out missile tests for what could be a plan for a nuclear strike on the United States, the head of a national security panel has warned. In testimony before the House Armed Services Committee and in remarks to a private conference on missile defense over the weekend hosted by the Claremont Institute, Dr. William Graham warned that the U.S. intelligence community “doesn’t have a story” to explain the recent Iranian tests. One group of tests that troubled Graham, the former White House science adviser under President Ronald Reagan, were successful efforts to launch a Scud missile from a platform in the Caspian Sea. “They’ve got [test] ranges in Iran which are more than long enough to handle Scud launches and even Shahab-3 launches,” Dr. Graham said. “Why would they be launching from the surface of the Caspian Sea? They obviously have not explained that to us.” Another troubling group of tests involved Shahab-3 launches where the Iranians "detonated the warhead near apogee, not over the target area where the thing would eventually land, but at altitude,” Graham said. “Why would they do that?” Graham chairs the Commission to Assess the Threat to the United States from Electromagnetic Pulse (EMP) Attack, a blue-ribbon panel established by Congress in 2001. The commission examined the Iranian tests “and without too much effort connected the dots,” even though the U.S. intelligence community previously had failed to do so, Graham said. “The only plausible explanation we can find is that the Iranians are figuring out how to launch a missile from a ship and get it up to altitude and then detonate it,” he said. “And that’s exactly what you would do if you had a nuclear weapon on a Scud or a Shahab-3 or other missile, and you wanted to explode it over the United States.” The commission warned in a report issued in April that the United States was at risk of a sneak nuclear attack by a rogue nation or a terrorist group designed to take out our nation’s critical infrastructure. "If even a crude nuclear weapon were detonated anywhere between 40 kilometers to 400 kilometers above the earth, in a split-second it would generate an electro-magnetic pulse [EMP] that would cripple military and civilian communications, power, transportation, water, food, and other infrastructure," the report warned. While not causing immediate civilian casualties, the near-term impact on U.S. society would dwarf the damage of a direct nuclear strike on a U.S. city. “The first indication [of such an attack] would be that the power would go out, and some, but not all, the telecommunications would go out. We would not physically feel anything in our bodies,” Graham said. As electric power, water and gas delivery systems failed, there would be “truly massive traffic jams,” Graham added, since modern automobiles and signaling systems all depend on sophisticated electronics that would be disabled by the EMP wave. “So you would be walking. You wouldn’t be driving at that point,” Graham said. “And it wouldn’t do any good to call the maintenance or repair people because they wouldn’t be able to get there, even if you could get through to them.” The food distribution system also would grind to a halt as cold-storage warehouses stockpiling perishables went offline. Even warehouses equipped with backup diesel generators would fail, because “we wouldn’t be able to pump the fuel into the trucks and get the trucks to the warehouses,” Graham said. The United States “would quickly revert to an early 19th century type of country.” except that we would have 10 times as many people with ten times fewer resources, he said. more...
| Iran | America |

While there's nothing Biblically that I'm aware of regarding this kind of scenario, I also can't find concrete evidence of America either. Is this kind of thing possible? Yes. Will it happen? I don't know, but it wouldn't hurt for this scenario or others to prepare a little while we can.

Home prices drop by record 15.8 pct. in May Associated Press (July 29, 2008) - Home prices tumbled by the steepest rate ever in May, according to a closely watched housing index released Tuesday, as the housing slump deepened nationwide. The Standard & Poor's/Case-Shiller 20-city index dropped by 15.8 percent in May compared with a year ago, a record decline since its inception in 2000. The 10-city index plunged 16.9 percent, its biggest decline in its 21-year history. No city in the Case-Shiller 20-city index saw price gains in May, the second straight month that's happened. The monthly indices have not recorded an overall home price increase in any month since August 2006. Home values have fallen 18.4 percent since the 20-city index's peak in July 2006. Nine metropolitan cities — Las Vegas, Miami, Phoenix, Los Angeles, San Diego, San Francisco, Seattle, Wash., Portland, Ore., and Washington, D.C. — posted record declines in May. And the value of housing in Detroit is now lower than it was in 2000. But a possible bright spot in an otherwise dismal report, seven metros — Tampa, Fla., Boston, Detroit, Minneapolis, New York, Dallas and Atlanta — showed smaller annual declines. Las Vegas recorded the worst drop, with prices plunging 28.4 percent in the month. Miami came in a close second, with prices down 28.3 percent. Charlotte, N.C., posted the smallest drop at 0.2 percent. Until April, the North Carolina city had been the last metro still showing price gains.
| America | Economic Crisis |

Israel to build new settlement in West Bank Associated Press (July 24, 2008) - A key committee has approved construction of the first new Jewish settlement in the West Bank in a decade, an Israeli official said Thursday. The news infuriated Palestinians, who said the decision could cripple peace efforts. The only hurdle that remains is Defense Minister Ehud Barak, who plans to approve the Maskiot settlement within weeks, the official said. Barak had signaled to the national planning committee that it should authorize the plan, the official said. The official spoke on condition of anonymity because the Defense Ministry did not officially announce the settlement would be built in the Jordan Valley Rift, an arid north-south strip that forms Israel's eastern flank with Jordan. Asked why Israel was moving ahead with the politically charged plan, the official said that it has been in the pipeline for years. Israel originally announced in 2006 that it would build Maskiot, then froze the plan after international outcry. But earlier this year, nine Israeli families settled in mobile homes at the site, which Palestinians claim as part of a future state. A number of Israeli politicians however, have said Israel needs to retain control of the Jordan Valley as a buffer between a future Palestinian state and Jordan. The issue remains to be resolved in negotiations between Israel and the Palestinians. Settlers say around two dozen more families are waiting to join them. Palestinian negotiator Saeb Erekat accused Israel of undermining U.S.-backed peace talks. "This is destroying the process of a two-state solution," Erekat said. "I hope the Americans will make the Israelis revoke the decision. I think they can make the Israelis do this." The U.S. Embassy had no comment. But on her last visit to the region in June, U.S. Secretary of State Condoleezza Rice said settlement building "has the potential to harm the negotiations."
| Israel | Islam | Dividing the Land | America |

Jim Deeds: End of the World? No, Not Really. Just Time to Adjust Your Thinking McAlvany Weekly Commentary (July 23, 2008)
| America | Economic Crisis |

Barack Obama and the UN’s Drive for Global Governance Christian Worldview Network (July 18, 2008) - Senator Barack Obama has introduced a dangerous bill and it’s on the fast track to Senate passage, probably because of his high profile position as the expected Democrat presidential nominee. Obama hasn’t done much legislatively in his freshman Senate term, but this one is very telling about what we can expect from a President Obama. The bill is the “Global Poverty Act” (S.2433) and is not just a compassionate bit of fluff that Obama dreamed up to help the poor of the world. This bill is directly tied to the United Nations and serves as little more than a shakedown of American taxpayers in a massive wealth redistribution scheme. In fact, if passed, The Global Poverty Act will provide the United Nations with 0.7% of the United States gross national product. Estimates are that it will add up to at least $845 billion of taxpayer money for welfare to third world countries, in addition to the $300 billion Americans spent for the same thing in 2006. The situation is urgent because the Global Poverty Act has already passed the House of Representatives by a unanimous voice vote on September 25, 2007. The senate version has been passed out of the Senate Foreign Relations Committee by unanimous consent and ready for a full Senate vote. Of course the United States has had an ongoing program of supplying foreign aid and assistance to the poor for decades. And the U.S. pays most of the bills at the UN for its herd of programs. So what’s new about Obama’s bill, and why is it dangerous? Some history that led up to the Global Poverty Act. In 1999 and 2000 non-governmental organizations, NGOs held numerous meetings around the world to write what became known as the Charter for Global Democracy. The document was prepared to be a blueprint for achieving global governance. In reality it was a charter for the abolition of individual freedom, national sovereignty and limited government. The Charter for Global Democracy outlined its goals in 12 detailed “principles:”

• Principle One called for the consolidation of all international agencies under the direct authority of the UN.
• Principle Two called for UN regulation of all transnational corporations and financial institutions, requiring an “international code of conduct” concerning the environment and labor standards.
• Principle Three explored various schemes to create independent revenue sources for the UN – meaning UN taxes including fees on all international monetary transactions, taxes on aircraft flights in the skies, and on shipping fuels, and licensing of what the UN called the “global commons,” meaning use of air, water and natural resources. The Law of the Sea Treaty fits this category.
• Principle Four would restructure the UN by eliminating the veto power and permanent member status on the Security Council. Such a move would almost completely eliminate U.S. influence and power in the world body. In turn Principle Four called for the creation of an “Assembly of the People” which would be populated by hand-picked non-governmental organizations (NGOs) which are nothing more than political groups with their own agendas (the UN calls NGOs “civil society”). Now, the UN says these NGO’s will be the representatives of the “people” and the Assembly of the People will become the new power of the UN.
• Principle Five would authorize a standing UN army.
• Principle six would require UN registration of all arms and the reduction of all national armies “as part of a multinational global security system” under the authority of the UN.
• Principle Seven would require individual and national compliance with all UN “Human rights” treaties and declarations.
• Principle Eight would activate the UN Criminal Court and make it compulsory for all nations -- now achieved.
• Principle Nine called for a new institution to establish economic and environmental security by ensuring “Sustainable Development.”
• Principle Ten would establish an International Environmental Cort
• Principle Eleven demanded an international declaration stating that climate change is an essential global security interest that requires the creation of a “high level action team” to allocate carbon emissions based on equal per-capita rights -- The Kyoto Global Warming Treaty in action.
• Principle Twelve demanded the cancellation of all debt owed by the poorest nations, global poverty reductions and for the “equitable sharing” of global resources, as allocated by the UN -- here is where Obama’s Global Poverty Act comes in.

Specifically, the Charter for Global Democracy was intended to give the UN domain over all of the earth’s land, air and seas. In addition it would give the UN the power to control all natural resources, wild life, and energy sources, even radio waves. Such control would allow the UN to place taxes on everything from development; to fishing; to air travel; to shipping. Anything that could be defined as using the earth’s resources would be subject to UN use-taxes. Coincidentally, all twelve principles came directly from the UN’s Commission on Global Governance. more...
| EU/UN / 4th Kingdom |  America | NewWorldOrder |

Dinars for Dollars: Arabs Buying Out Collapsing Western Banks Israel National News (July 16, 2008) - First it was Citibank. Now it's Barclay's and New York City's Chrysler Building skyscraper. Muslim Arabs are buying out collapsing Western banks and businesses and gaining growing international power, but some Arab investors are worried their investments may go down the drain with the American economy. The current financial crisis in the United States has spread to other countries because of a massive debt that was not backed by enough real and liquid collateral. Banks and businesses gasping for financial breath are up for sale at basement prices, but no one is certain if the basement is the bottom. "The possibility remains that more Arab white knights will be sought to rescue ailing financial institutions," wrote Dr. Mohammed Ramady, a former banker and Visiting Associate Professor at the King Fahd University of Petroleum and Minerals in the Financial Adviser magazine. He said he fears that Arab investors will end up chasing their investments with more money to keep them from going under. The Abu Dhabi Investment Council of the oil-rich United Arab Emirates kingdom of Abu Dhabi last November announced it was bailing out the mammoth Citibank financial institution, formerly headed by Bank of Israel Governor Prof. Stanley Fischer, with $7.5 billion. Next in line was Britain's Barclay's Bank, which raised $9 billion from investors in the oil-rich kingdom of Qatar and in Asian countries. The Abu Dhabi Investment Council last month forked out approximately $800 million for a 75 percent stake in New York City's 1,046-foot-tall Chrysler Building, which was the world's tallest building for a year until the Empire State Building surpassed it in the 1930's. The purchase of American banks by foreigners has been blocked in the past by security and political considerations, but the barriers have come down, wrote Dr. Ramady. "How long this lasts is only a matter of guesswork, as once again, the specter of foreign takeovers of 'national' symbols will be hard to accept," he added. In a more serious vein, The Australian editor-at-large Paul Kelly wrote earlier this month that the foreign investments, headed by Arabs, signal a major change in international power. "The energy, financial and political woes that grip the U.S. signal a decisive shift in world power, mocking the liberal delusion that Barack Obama or John McCain can return American prestige and power to its pre-Bush year 2000 nirvana," he wrote. "There is no such nirvana. There is instead a new reality: the greatest transfer of income in human history [and] the rise of a new breed of wealthy autocracies that cripple U.S. hopes of dominating the global system and demands on the U.S. to make fresh compromises in a world where power is rapidly being diversified." more...
| Islam | EU/UN / 4th Kingdom | America | Economic Crisis |

Americans may be losing faith in free markets Los Angeles Times (July 16, 2008) - For a generation, most people accepted the idea that the core of what makes America tick was an economy governed by free markets. And whatever combination of goods, services and jobs the market cooked up was presumed to be fine for the nation and for its citizens -- certainly better than government meddling. No longer. Spurred by the continued housing crisis, turmoil in financial markets, spiking oil prices, disappearing jobs and shrinking retirement savings, the nation and its political leaders have begun to sour on the notion that the current market system is the key to a fair, stable and efficient society. "We're at a hinge point," said William A. Galston, a senior fellow at the Brookings Institution in Washington who helped craft President Clinton's market-friendly agenda during the 1990s. "The strong presumption in favor of markets, which has dominated public policy since the late 1970s, has been thrown very much into question." Now, to a degree not seen in years, politicians and outside experts are looking with favor at more, not less, government involvement in the economy. Of course, Americans always grouse during troubled times. And as market advocates are quick to point out, the current run of bad economic breaks has yet to result in the throwing over of free-market principles in favor of some drastically different approach -- such as a government-directed economy. "There may be a backlash against markets at the moment," acknowledged Kevin A. Hassett, economic studies director at the American Enterprise Institute in Washington and an advisor to presumed Republican presidential nominee John McCain. "But the backlash doesn't seem to be informed by any alternative view of how the world works." more...
| NewWorldOrder | America | Economic Crisis |

Euro soars to $1.60 against U.S. dollar, a new record high Associated Press (July 15, 2008) - The European single currency leapt to a record high above 1.60 dollars here on Tuesday as investor fears grew over the state of the US economy and its financial services sector, dealers said. In late morning London deals, the euro jumped to 1.6038 dollars, which beat the previous all-time peak of 1.6019 that was set on April 22.
| EU/UN / 4th Kingdom | America | Economic Crisis |

Fannie Mae, Freddie Rescue a 'Disaster,' Rogers Says Bloomberg (July 14, 2008) - The U.S. Treasury Department's plan to shore up Fannie Mae and Freddie Mac is an "unmitigated disaster" and the largest U.S. mortgage lenders are "basically insolvent," according to investor Jim Rogers. Taxpayers will be saddled with debt if Congress approves U.S. Treasury Secretary Henry Paulson's request for the authority to buy unlimited stakes in and lend to Fannie Mae and Freddie Mac, Rogers said in a Bloomberg Television interview. Rogers is betting that Fannie Mae shares will keep tumbling. Goldman Sachs Group Inc. analyst Daniel Zimmerman said the mortgage finance companies' shares may fall another 35 percent and lowered his share-price estimate for Fannie Mae to $7 from $18 and for Freddie Mac to $5 from $17. Freddie Mac fell 64 cents, or 8.3 percent, to $7.11 in New York Stock Exchange trading, while Fannie Mae fell 52 cents, or 5.1 percent, to $9.73. "I don't know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae," Rogers, 65, said in an interview from Singapore. "So we're going to bail out everybody else in the world. And it ruins the Federal Reserve's balance sheet and it makes the dollar more vulnerable and it increases inflation." The chairman of Rogers Holdings, who in April 2006 correctly predicted oil would reach $100 a barrel and gold $1,000 an ounce, also said the commodities bull market has a "long way to go" and advised buying agricultural commodities. Rogers, a former partner of hedge fund manager George Soros, predicted the start of the commodities rally in 1999 and started buying Chinese stocks in the same year. He traveled the world by motorcycle and car in the 1990s researching investment ideas for his books, which include "Adventure Capitalist" and "Hot Commodities." Billionaire investor Soros said today that Fannie Mae and Freddie Mac face a "solvency crisis," not a liquidity one, and that their troubles won't be the last financial disruption, Reuters reported. "This is a very serious financial crisis and it is the most serious financial crisis of our lifetime," Soros told Reuters in a telephone interview. "It is an idle dream to think that you could have this kind of crisis without the real economy being affected." "These companies were going to go bankrupt if they hadn't stepped in to do something, and they should've gone bankrupt with all of the mistakes they've made," Rogers said. "What's going to happen when you Band-Aid and put some Band-Aids on it for another year or two or three? What's going to happen three years from now when the situation's much, much, much worse?" Paulson's proposal, which the Treasury anticipates will be incorporated into an existing congressional bill and approved this week, signals a shift toward an explicit guarantee of Fannie Mae and Freddie Mac debt. The Federal Reserve separately authorized the firms to borrow directly from the central bank. more...
| America | Economic Crisis |

Fannie and Freddie Rescued? The “Con” fidence Game Continues McAlvany Report

Analysts say more U.S. banks will fail International Herald Tribune (July 14, 2008) - As home prices continue to decline and loan defaults mount, U.S. regulators are bracing for dozens of American banks to fail over the next year. But after a large mortgage lender in California collapsed late Friday, Wall Street analysts began posing two crucial questions: Just how many banks might falter? And, more urgently, which one could be next? The nation's banks are in far less danger than they were in the late 1980s and early 1990s, when more than 1,000 federally insured institutions went under during the savings-and-loan crisis. The debacle, the greatest collapse of American financial institutions since the Depression, prompted a government bailout that cost taxpayers about $125 billion. But the troubles are growing so rapidly at some small and midsize banks that as many as 150 out of the 7,500 banks nationwide could fail over the next 12 to 18 months, analysts say. Other lenders are likely to shut branches or seek mergers. "Everybody is drawing up lists, trying to figure out who the next bank is, No. 1, and No. 2, how many of them are there," said Richard Bove, the banking analyst with Ladenburg Thalmann, who released a list of troubled banks over the weekend. "And No. 3, from the standpoint of Washington, how badly is it going to affect the economy?" Many investors are on edge after federal regulators seized the California lender, IndyMac Bank, one of the nation's largest savings and loans, last week. With $32 billion in assets, IndyMac, a spinoff of the Countrywide Financial Corporation, was the biggest American lender to fail in more than two decades. Now, as the Bush administration grapples with the crisis at the nation's two largest mortgage finance companies, Fannie Mae and Freddie Mac, a rush of earnings reports in the coming days and weeks from some of the nation's largest financial companies are likely to provide more gloomy reminders about the sorry state of the industry. more...
| America | Economic Crisis |

In 2004 that the Bush administration was pushing the zero down-payment initiative. here and here Of course back when this was being pushed there were those making it known it would increase defaults. In hindsight, this push to get people into homes that couldn't really afford it along with adjustable rate mortgages that shift as they have, probably wasn't really a good idea. The push for everyone to get a house and the multitude of offers for low interest rate adjustable mortgages to those inexperienced home-buyers is a potent mix. Here's what a poster (Craig) said regarding where the majority of problems have come from:

"The ruling by HUD only affected a small portion of the homebuying public, those getting FHA-secured homes for first-time home buyers. A zero-down-payment loan for someone with good credit and proper loan documentation probably isn't defaulting that frequently. FHA loans require income verification. All FHA loans that I know of are 30-year fixed loans. These are not the loans creating the problems. ARMs with low teaser rates, Alt-A, no-doc, negative amortization, pay option, etc. loans are the problem loans now, and I seriously doubt that any of them would have qualified for FHA insurance. Also, if the problem loans were FHA insured, then Wall Street and the banks wouldn't be in the mess that they are in, as the federal government would be on the hook to pay off the loans. The problem loans are not FHA secured, therefore the initiative mentioned is not applicable in this case.

Our current fiscal problems are due to loose money from the Fed, collusion/fraud by and between Wall Street and the ratings agencies, and greed/lack of ownership by the banks, as well as lack of oversite by the Fed, Congress and the Executive Branch. Bush has very little responsibility for any of the problems. Wall Street, the ratings agencies and the banks are to blame. The Fed shares a lot of the blame because they have oversite on the banks, (and all the CDO crap was blessed by Greenspan as a great financial innovation). Congress and the Executive Branch, (of which Bush is the head), also share some blame because they have oversite into the actions of the Fed and thus the banks. Bush is at the very end of a long line of people/institutions that are to blame."

I'm not going to try and place blame, but in the scheme of transitioning to a new global financial system via a bail-out this could really help out. Revelation 13:16-18 It seems to me that in a world run by money, being in debt is a good way to transition people to a New World Order - most maybe even unknowingly at first. Now we have the government bailing out these banks while at the same time working to harmonize international law and trade. I'm sure over the thousands of years the mystery of iniquity has been working to globalize control of the world that some well thought-out plans have been developed. Are we seeing them unfold now? It also strikes me that many don't seem to notice or want to notice. Perhaps I'm just seeing things or maybe I'm just seeing things, that's up to you to decide for yourself after researching these things. If I'm wrong, let me know! Just remember that in order to give the kingdoms to the man of sin, they must belong to the dragon. Keep watching!

Ahmadinejad: We'll sever enemies' hands The Jerusalem Post (July 13, 2008) - Iran's President Mahmoud Ahmadinejad threatened on Sunday to "cut off the hands" of any would-be attackers of the Islamic Republic. "Before the enemies touch the trigger, the armed forces will cut off their hands," the state-run IRNA news agency quoted the leader as saying. Ahmadinejad said that missile tests conducted last week exhibited "only a small part" of Iran's defense capabilities, and that, if necessary, further capabilities would be revealed. Ahmadinejad's statement comes amid a report that US President George W. Bush has given Israel the "amber light" to carry out an attack on Iran if diplomatic efforts are unsuccessful in causing the Islamic Republic to back down and relinquish its nuclear program. According to a senior Pentagon official quoted by the British Sunday Times on Sunday morning, Bush has given Israel free rein to attack Iran's nuclear sites if sanctions fail in spite of opposition from US generals and regardless of the possible economic and political repercussions of such a strike. "Amber means get on with your preparations, stand by for immediate attack and tell us when you're ready," the official said, adding however, that Israel had been told that it could not count on the US to lend it military support. Contradicting recent reports to the contrary, he also said that the IAF would not be permitted to take off from American military bases in Iraq. The Jerusalem Post could not confirm the report. Ahmadinejad's aggressive statements contrasted strikingly with a report on Iranian state TV Sunday, which quoted him as saying that Iran would welcome the idea of setting up a US diplomatic office in Teheran. The report quoted the firebrand Iranian leader as saying he would consider an American request to set up an interests section in Iran. He said he "welcomes any move to expand ties." But Ahmadinejad said his government hasn't received any official request for such an office. Last month, US officials floated the idea but no formal requests were made. more...
| Iran | Israel | Islam | Isaiah 17 | Gog/Magog | America |

Feds take over mortgage lender IndyMac. May become most expensive bank collapse ever CNN Money (July 12, 2008) - In what could turn out to be the most expensive bank failure ever, troubled mortgage lender IndyMac Bank was taken over by federal regulators on Friday. The operations of the Pasadena, Calif.-based bank - once one of the nation's largest home lenders - were shut down at 3 p.m. by the Office of Thrift Supervision and transferred to the Federal Deposit Insurance Corp. According to the FDIC, 10,000 IndyMac customers could lose as much as $500 million in uninsured deposits. The agency says the failure will cost the Deposit Insurance Fund between $4 billion and $8 billion, based on preliminary estimates. "It's possible this will be the most costly bank failure in history, but it's too soon to say," FDIC Chairman Sheila Bair said in a conference call late Friday night. The failure could also affect premiums paid by all banks for deposit insurance, she added. IndyMac, with assets of $32.01 billion and deposits of $19.06 billion, is the fifth bank to fail this year. Between 2005 and 2007, only three banks failed. And in the past 15 years, the FDIC has taken over 127 banks with combined assets of $22 billion, according to FDIC records. "There will be increased failures, but it will be within range of what we can handle," Bair said. "People should not worry." IndyMac marks the largest bank collapse since 1984, when Continental Illinois, which had $40 billion in assets, failed, according to FDIC records. The two most expensive failures were in 1988: American Savings and Loan Association in California ($5.4 billion) and involved First Republic Bank in Texas ($4 billion). more...
| America | Economic Crisis |

Congress' approval plunges to 9 percent WorldNet Daily (July 8, 2008) - A major tracking poll for the first time shows Americans' approval of Congress has dipped below 10 percent. The most recent Rasmussen Reports survey calculates a mere 9 percent say Congress is doing a good or excellent job, while a majority of Americans, 52 percent, believe it is doing a poor job, which also ties a record high. Against President Bush's much-publicized poor approval ratings, today's poll shows Congress' numbers have plunged to less than a third of the president's. The Democrat-controlled Congress enjoys its highest rating among Democrat respondents, 13 percent of whom rated the Congress favorably. Only 8 percent of Republicans were willing to say Congress is doing a good job, while an almost non-existent 3 percent of unaffiliated voters gave Congress a positive rating. The polling company also asked respondents if they thought Congress has passed any legislation in the last six months to improve life in the U.S.. Just 12 percent said yes, while 62 percent said Congress has done nothing to improve life in America. A further 55 percent said it was unlikely that Congress would do anything in the near future to address important problems facing the nation. Despite dismal ratings for the Democratic Congress, another Rasmussen Report released today shows Americans are unwilling to vote the majority party out of office. When given the choice, 47 percent of voters said they would vote for their district's Democratic candidate, while 34 percent said they would vote Republican. In a related Rasmussen Reports survey, Democratic presidential candidate Barack Obama holds a 6 percent lead over rival John McCain (46 percent to 40 percent) in a poll released today, and President Bush scored a 32 percent approval rating in a poll released last week.
| America |

Report: Emirates calls on GCC countries to depeg currencies from US dollar The Jerusalem Post (July 6, 2008) - A newspaper in the United Arab Emirates says the tiny Gulf state's government is lobbying neighboring countries to depeg their currencies from the US dollar to curb inflation. The National, which is owned by the Abu Dhabi ruling family, reported Sunday that the UAE is calling on all six Gulf Cooperation Council member states to "rethink" their monetary policy amid soaring inflation in the oil-rich region. It cited an internal report by Abu Dhabi's Department of Planning and Economy. The GCC members are Saudi Arabia, Qatar, Kuwait, the United Arab Emirates, Bahrain and Oman. All of their currencies are pegged to the dollar except Kuwait, which depegged its currency, the dinar, from the dollar in May 2007 in favor of a basket of currencies.
| Islam | America | Economic Crisis |

Satan Now Appearing Naked In Human History? Constance Cumbey (July 3, 2008) - From time to time I have seriously recommended Fr. Seraphim Rose's excellent book. It is published by the St. Herman of Alaska Brotherhood. It is entitled Orthodoxy And The Religion of the Future. He wrote the book from a Russian Orthodox perspective, but with a directness and a clarity that will benefit all seeking the truth. I wish I could have discussed the book with its author, but he died of pneumonia in a San Francisco hospital in 1982, the year my own work went national. A friend of mine, Marie Fisher, who then lived in Seattle checked the group out for me on a trip she made in the late 1980s to northern California. The difficult primitive living conditions of the author's monastic order no doubt made him more susceptible to the pneumonia that claimed him. He undoubtedly saw the same trends I viewed then with alarm -- the alarm that caused me to write The Hidden Dangers of the Rainbow. He wrote that the years ahead promised to be more terrible than anyone could comprehend -- "it would appear that Satan is now entering naked into human history."

Today, ABC news reported a startling story. (WorldNet Daily story here) I don't know how much notice it obtained -- I had no opportunity to watch the news apart from just grasping what I could on the internet before retiring for the night (ok, the rest of the early morning at least -- it is now nearly 1 a.m.!). A former local Democratic party leader for Durham, North Carolina was arrested along with her husband. She was reportedly a former Vice-Chairman. Both were accused of torture and sex crimes through their Order of the Golden Dawn type Satanic cult, Order of the Morning Star. Pictures shown on the TV clip further indicated a link to something calling itself "Indigo Dawn." Here is a link to its site. You may view it for yourself by going to ABC News and viewing "world news" videos. It was further alleged that the couple trapped, chained and starved their victims first. This local Democratic party leader was an activist in the New Age Movement. She headed the local UN association. She wrote articles claiming that she had been told by her spirit guides that her role was to help usher in the New Age. Her articles detailing that may be read by clicking here. Here is a particularly interesting excerpt:

"Another trigger for the New Age will be peace in the Middle East . . . Do not underestimate what humanity can achieve. Keep in mind that civilization started in the Middle East, so peace there is imperative to peace worldwide . . . I invite all of you to look at the Temple Mount and tell me if you can see enough space in between the two mosques to add another place of worship. Imagine the Temple of Solomon sitting in between the five mosques, and you will have perfect harmony on the Temple Mount . . . "

I wonder what Fr. Seraphim Rose would have said about that? I suspect he would not be surprised. I also suspect he would tell us we should face these times with prayerful sobriety. I further wonder how his religious order is faring in the Northern California fires? Perilous times are clearly here. Stay tuned!
| Signs of the Times | America |

U.S. and EU near deal on sharing data International Herald Tribune (June 28, 2008) - The United States and the European Union are nearing completion of an agreement that would allow law enforcement and security agencies to obtain private information - including credit card transactions, travel histories and Internet browsing habits - about people on the other side of the Atlantic Ocean. Seeking to improve information-sharing to fight crime and terrorism, government officials have been meeting since February 2007 to reach a pact. Europe generally has more-stringent laws restricting how governments and businesses can collect and transfer personal data, which have led to high-profile disputes over American demands for such information. Negotiators have largely agreed on draft language for 12 major issues that are central to a "binding international agreement" making clear that it is lawful for European governments and companies to transfer personal information to the United States, and vice-versa, according to an internal report obtained by The New York Times. American and European Union officials are trying to head off future confrontations "by finding common ground on privacy and by agreeing not to impose conflicting obligations on private companies," said Stewart Baker, the assistant secretary for policy at the Department of Homeland Security, who is involved in the talks. "Globalization means that more and more companies are going to get caught between U.S. and European law." Paul Schwartz, a law professor at the University of California, Berkeley, said such a blanket agreement could transform international privacy law by eliminating a problem that has led to negotiations of "staggering" complexity between Europe and the United States. "The reason it's a big deal is that it is going to lower the whole transaction cost for the U.S. government to get information from Europe," Schwartz said. "Most of the negotiations will already be completed. They will just be able to say, 'Look, we provide adequate protection, so you're required to turn it over."' But the prospect that the agreement might lower barriers to sending personal information to the U.S. government has alarmed privacy-rights advocates in Europe. The Bush administration and the European Commission, the EU's executive body, have not publicized the talks. But in a little-noticed paragraph deep in a joint statement following a summit meeting between President George W. Bush and European leaders in Slovenia this month, the leaders hailed their progress. Issued June 10, the statement declared that "the fight against transnational crime and terrorism requires the ability to share personal data for law enforcement," and it called for the creation of a "binding international agreement" to facilitate such transfers while also ensuring that citizens' privacy is "fully" protected. In addition, businesses that operate on both sides of the Atlantic are pushing to eliminate the prospect of getting caught between conflicting legal obligations. "This will require compromise," said Peter Fleischer, the global privacy counsel for Google. "It will require people to agree on a framework that balances two conflicting issues - privacy and security. "But the need to develop that kind of framework is becoming more important as more data moves onto the Internet and circles across the global architecture." more...
| EU/UN / 4th Kingdom | NewWorldOrder | America |

Muslim Terrorists May Be Trying To Sink the Dollar Israel National News (June 27, 2008) - Mujahideen Muslim terrorists may be behind the sinking American dollar as part of a campaign to cripple the American economy, the Middle East Media Research Institute (MEMRI) reported. The media watch group, which specializes in tracking Arabic language websites, said that postings on websites the past two years reflect a move toward waging an economic war against the United States. Mujahideen terrorist groups that operate in Afghanistan, Pakistan and other countries "have come to the conclusion that it is financial, rather than military, losses that will prompt the U.S. to change its policies in the Middle East and elsewhere," according to MEMRI. An article recently posted in Sada Al-Jihad (Echo of Jihad) magazine and posted on several Muslim websites, discusses the September 11, 2001 attacks on the U.S. as having influenced the decline in the dollar. It also cited the cost of the war in Iraq and Afghanistan as draining the American economy. Another recent posting stated, "The dollar can expect two additional blows that will break its back... [namely] the announcement of the return of the [religious rule of the] Caliphate..." and the reinstatement of the gold standard in international monetary trade. It urged Mujahideen "to get rid of American dollars" before an "imminent" terrorist attack that "will put an end to the so-called United States of America and destroy its economy completely." MEMRI concluded, "Given that it is highly atypical for Al-Qaeda to give prior warning of its attacks, the message is probably an attempt to pressure Muslims to sell dollars, in order to generate pessimism in the dollar market and thus accelerate the drop in its value."
| Islam | America | Economic Crisis |

PLO Sees Bush's Exit as Chance for EU To Take Over One News Now (June 24, 2008) - Hind Khoury, French ambassador of the Palestine Liberation Organization (PLO), said Monday that next year's exit of American President George W. Bush from office will allow France and the rest of the European Union (EU) to exercise a more powerful role in the Middle East. Khoury noted that French diplomats have expressed they are prepared to "shake hands with Hizbullah." French President Nicolas Sarkozy met on Monday with Palestinian Authority (PA) leaders, including Khoury, at the French consulate in Jerusalem.
| Islam | EU/UN / 4th Kingdom | NewWorldOrder | America |