Saturday, May 05, 2007

Gates May Have Accelerated Ancient Prophecy Of Russian Attack On Israel With Defense Deal

Gates May Have Accelerated Ancient Prophecy Of Russian Attack On Israel With Defense Deal - Bill Wilson
By Bill Wilson, KIN Senior Analyst
WASH—Apr 24—KIN-- U.S. Defense Secretary Robert Gates may well have accelerated an ancient prophecy about Russia and Iran attacking Israel by offering the Russians an opportunity to see how America would defend herself against Iranian missiles made with Russian-assistance. Gates was trying to sweeten the pot for Russian approval of U.S. missile defense deployments in Poland and the Czech Republic. Gates, however, came away from the meeting with Russian President Vladimir Putin with no change in Russian policy, but a certain agreement that the Russians will have access to American missile defense technology.
Gates announced that Russia and the United States have agreed to cooperate by forming a working group where the U.S. will share technical aspects of the proposed missile shield and develop a joint missile defense effort. The Russians, however, remained concerned that the missile defense systems to be deployed may be turned against Russia in the future. While the Russians apparently agreed to participating in the working group and getting a first hand view of the inner workings of American missile defense systems, Russian Defense minister Anatoly Serdyukov told reporters that “The Russian position remains unchanged.”
Gates agreed to share with Russia the technology, radar interceptors and development aspects of the missile shield that would be used by the United States. According to reports, Gates even invited the Russians to visit the American missile defense sites in Alaska and California to see the non-explosive interceptors and the missile tracking radar systems that would be used in Eastern Europe. Russia is likely to absorb all the technical detail it can on U.S. anti-missile installations because Iran would use missiles similar to Russia’s in the event of an attack.
According to the New York Times, the owners of Russia’s largest independent radio network, The Russian News Service, have ordered the network to portray the United States as an enemy. It appears that Gates and the Bush Administration do not understand the Russian intent. The Apostle Paul writes in 2 Corinthians 3:14, “But their minds were blinded: for until this day remains the same veil untaken away in the reading of the Old Testament.” The reading of the Old Testament, especially in Ezekiel 38, shows that Russia is prophesied to join with Iran in coming against Israel. The United States may have accelerated this prophesy by agreeing to share missile defense technology with the Russians.

Can the "Axis of Oil" Topple the US$?

Can the "Axis of Oil" Topple the US$?
May 1, 2007
Can the “Axis of Oil” Topple the US Dollar? By Gary Dorsch, Editor, Global Money Trends newsletter Were it not for its “reserve currency” status, slowly turning into a post-World War II relic, the US dollar would have already collapsed by now. A string of $4.4 trillion of US trade deficits since 1996, and a heavy reliance on foreign money to fund its external imbalance, has severely weakened America’s global economic leadership over the past five years. The US dollar survives, due to America’s political stability, its military might in the Persian Gulf, its large $12.5 trillion economy (28% of global GDP), and deep and liquid financial markets for bonds and stocks. Last week, the US dollar fell to an all-time low against the Euro, a new milestone in a steep decline that began more than six years ago. The Euro hit a record high of $1.3682 on April 27th, up from $1.20 a year ago and as little as 83 cents in October 2000, when the rally against the dollar began. The British pound is hovering near $2 area, and the Australian dollar fetches 82.50 US-cents, both at 15-year highs.

Since the beginning of the year, 50 of the world’s currencies have risen against the dollar while only eight have declined. Behind the falling US dollar is a changing global economy. China and the US are the locomotives in the global economy, accounting for 60% of all the global growth in the last five years. But now, the $12.5 trillion US economy is sputtering, due to a slumping housing sector, while the $2.5 trillion Chinese economy is overheating, expanding at a blistering 11.1% pace in Q’1 India’s elephant, China’s dragon, and other dynamic economies, such as Russia and South Korea are expected to contribute more than 50% to world economic growth in 2007, with China’s contribution alone being 30% and India’s 10%. In comparison, the US contribution to world growth is expected to fall to 12%, after its economic output halved to 1.3% in Q’1, the smallest gain in four years. Every time US year-on-year GDP growth has dipped below 2% since 1960, a full-blown recession unfolded. In contrast, the Euro zone economy is expanding at a 2.6% clip, its best performance in six years, and the European Central Bank is aiming to lift its interest rate in June, thus making the US dollar less attractive next to the Euro. As such, many foreign central banks have been reducing their exposure from the US dollar to the Euro and British pound over the past year. US Dollar Slides despite Improvement in Foreign Trade Since the bursting of the dot-com investment boom on Wall Street in 2001, the US Dollar Index has been sliding on a slippery slope, weakened by rising US trade and budget deficits, and an increasingly unpopular war in Iraq, which is costing the US Treasury about $2 billion per week. The US Dollar Index has a weighting of 57.6% in Euros, 13.6% in Japanese yen, 12% in British pounds, 9% in Canadian dollars, 4.2% in Swedish kronas, and 3.6% in Swiss francs.

The weaker dollar is beginning to translate into an improved US trade balance for the first time in six years. The US trade deficit is February was $59.4 billion, compared with a record high of $69.6 billion in July 2006. In February, the US posted a surplus with Britain for the first time since 2001. For the first two months of 2007, the deficit with the European Union was less than $13 billion, down 28% from a year earlier. With Canada, the deficit fell to below $12 billion from more than $16 billion. Still, the US deficit with China soared to a record high of $232.5 billion dollars in 2006, up from $201.5 billion the year before, to account for nearly one-third of the total. The annual US deficit with Japan also hit a new high at $88.4 billion, up 7.2% from 2005, thanks to Tokyo’s weak yen policy. Beijing and Tokyo have achieved such spectacular results by manipulating their currencies against the US dollar. Japanese Financial Warlords Buck the Trend The giant US trade deficit of $763 billion in 2006 produced a huge outflow of dollars to other countries. The People’s Bank of China, the Bank of Japan, and Arab Oil kingdoms have been the key linchpins in limiting the US dollar’s losses by buying US Treasury debt. Foreign central banks boosted their holdings of US Treasury and agency debt by $14.2 billion in the week ended April 25th, to a record $1.93 trillion. Although the US dollar is sliding to multi-year lows against most major currencies, the greenback is up 5% against the Japanese yen from a year ago. The Bank of Japan is the largest holder of US Treasures with $618 billion, and pursues a radical monetary policy, pegging its overnight loan rate at only half-percent, or 475 basis points below the US fed funds rate, in order to prop-up the US dollar.“Most countries are diversifying their investments to non-US dollar assets. But in the case of Japan, we are still cautious about shifting from the dollar to other currencies,” said Hiroshi Watanabe, Japan’s powerful FX chief in Abu Dhabi, on April 19th “If we do that, it goes towards the depreciation of the dollar. So why should we trigger such a stupid action?” Watanabe asked. The Bank of Japan is the world’s largest “yen carry” trader. Last fiscal year, Tokyo paid 7.6 billion yen in interest expense, while earning 3 trillion yen in interest rate income on US Treasuries. “Thus, we don’t have any plans to sell foreign currencies to redeem government bonds,” said Japanese finance minister Koji Omi on March 23rd. The US Treasury is thrilled with Japan’s “cheap yen” policy, which encourages the flow of capital from Tokyo to US financial markets. Tokyo also reaps big rewards, as yen has fallen 14% in the past year against the Euro, 5% against the dollar and 9% against China’s yuan. That’s boosted Japan’s trade surplus by 74% to a record 1.63 trillion yen ($14 billion) in March from a year earlier. China overtook the US as Japan’s largest trade partner in the year ended March 31st. Arab Oil Kingdoms Recycle Petrodollars into US$ Washington’s allies in the Arab world, particularly in the Persian Gulf, are now worried about the influence of Shi’ite Iran in Iraq and elsewhere in the predominantly Sunni Muslim region. The US accuses Tehran of seeking to set up a covert nuclear weapons program, a fear shared by Saudi Arabia, the world’s biggest oil exporter. Riyadh fears that US troops will leave Iraq prematurely, and enable Iran to consolidate its influence and leaving Sunni Arabs at the mercy of Shi’ite militias. The Arab Oil kingdoms are supporting the US war effort in Iraq by recycling much of their petrodollar surpluses into US Treasuries. But nearly four years into the Iraq war, America’s patience with the war is growing thin. Democrats voted for a $124 billion funding bill for Afghanistan and Iraq for the current fiscal year, but with strings attached, ordering US troops to begin withdrawing from Iraq by October 1st.

The Arab Oil kingdoms are willing to recycle petrodollars into US Treasuries, but also want to be compensated for a weaker dollar with higher oil prices. The OPEC-10 cartel has lowered its daily oil output by 1.8 million barrels since November 2005, and with the depletion of 500,000 bpd from Mexico’s giant Cantarell oil field last year, OPEC is back in the driver’s seat. OPEC has guided the benchmark North Sea Brent price upward to $68 /barrel, from as low as $51 /bl in January. China Grows weary of weaker dollar, US Protectionist Threats But while Tokyo’s financial warlords and Arab Oil Kingdoms are firmly committed to the defense of the US dollar, how Beijing decides to use its $1.2 trillion of wealth would have much bigger ramifications for financial and commodities markets worldwide. China’s FX reserves soared by $136 billion in Q’1, more than half the $247 billion gain for all of 2006, and are on course to reach $1.5 trillion next year. China suffers losses on its massive $700 billion US bond portfolio, whenever it allows the dollar to move lower against the yuan. The dollar has fallen only 1.3% against the yuan so far this year, and dealers expect a devaluation of only 4% for 2007. Still, the dollar fell to a new post revaluation low of 7.7025 on April 30th, after the Chinese central bank raised bank reserve requirements 0.5% to 11% last Friday.
The slow pace of yuan appreciation could invite “veto-proof” US Congressional protectionist legislation against Chinese exports in the second half of this year. Until now, Congressional efforts to get China to move toward a more flexible exchange rate with threats of tariffs have been frustrated by the leverage exerted by the Chinese through their huge ownership of US Treasury debt. But if the US Congress slaps tariffs on Chinese imports into the US this year, it might cause Beijing to switch its allegiance to the “Axis of Oil,” a loosely aligned alliance of top oil producers, who are slowly chipping away at the US dollar’s allure, and aim to thwart American economic and foreign policy at every turn. “Axis of Oil” Chipping away at US Dollar’s Base of Support The “Axis of Oil” led by Russia, Iran, and Venezuela, is slowly chipping away at the US dollar’s status as the world’s “reserve currency.” Russia, the world’s second largest oil exporter demands rubles in exchange for its Urals crude oil, and Iran, the world’s fourth largest oil exporter is earning most of its revenues in the Euro. Venezuela’s central bank began shifting its FX reserves to Euros in 2005. The “Axis of Oil” seeks to draw China into its sphere, exploiting China’s huge thirst for oil. Iran became China’s top oil supplier in January, providing 2.14 million tons of crude, up 13% over the same month last year, and tripling that of December’s supply of 740,000 tons. China aims to establish 625 million barrels of strategic petroleum reserves to be able to cover 90 days of net oil imports by 2015.
China’s state-run Zhuhai Zhenrong, the biggest buyer of Iranian crude worldwide, began paying for its oil in Euros late last year. Japanese refiners who buy 500,000 bpd of Iranian crude, or a fifth of Iran’s 2.4 million-bpd shipments, continue to pay in dollars but are willing to shift to yen if asked. A major share of global trade in commodities belongs to crude oil, which is widely transacted in US dollars. That forces oil importers and central banks to buy US dollars, regardless of the direction of US interest rates. Last month, world-wide oil consumption rose to 85.5 million bpd. By 2030, crude oil demand is expected to reach 118 million bpd, so the dollar-crude oil link is vital to maintain the dollar’s “reserve currency” status, and allowing America to live beyond its means.
Right now, the only serious threat to the US dollar’s international dominance is the Euro. The gross domestic product of the Euro zone is roughly the same as that of the US, and its population is 60% bigger. Europe is the Middle East’s biggest trading partner, is a major oil importer, has a comparable share of global trade as the US, but its external accounts are much better balanced. The Euro zone ran a current account deficit of only 3.2 billion euros ($4.2 billion) over the past 12-months. But the “Axis of Oil” could topple the US dollar, if it demands payment for oil sales in Euros. In November 2000, Saddam Hussein insisted that Iraq’s oil be paid for in Euros. When the value of the Euro rose, Iraq’s oil revenues increased accordingly. The economic threat this represented to the US dollar might have been one of the reasons why the Bush administration was so anxious to topple Saddam. Russian Bear Leads the Assault on the US Dollar But a greater threat to the US dollar’s hegemony is the “Axis of Oil.” Russia is the #1 producer of natural gas and the #2 producer of crude oil and much of its vast energy assets are still under exploration. Each up-tick in the oil price pumps billions of additional dollars into the Kremlin’s coffers. One year ago, on May 10th, Russian kingpin Vladimir Putin declared that Russian Urals blend crude oil would be traded for Russian rubles, instead of US dollars, and made the ruble fully convertible. One month later, on June 8th, 2006, the Russian central bank said it had cut the share of US dollars in its reserves by 5% to 50% and boosted the Euro’s share to 40%, with the rest in sterling and yen. Due to soaring oil revenues and an appreciating Euro, Russia’s foreign exchange reserves have mushroomed to $361 billion today, the third largest in the world, behind China and Japan.
Russia’s FX reserves now exceed its outstanding foreign debt of $103 billion, a vast improvement since 1998, when Moscow defaulted on $40 billion of debt repayments. Russia’s FX reserves ballooned with a widening foreign trade surplus, which rose to $164.4 billion in 2006, up 15.1% from 2005. Two thirds of Russia’s oil and natural gas exports were shipped to the European Union. Russia’s $800 billion economy expanded at a sizzling 8.4% rate in the first quarter, and industrial production was 16% higher from a year ago, outpaced only by China and India. The Kremlin is securing its control over Russia’s natural resources, yet has done little to scare foreign investors away, at least in the energy sphere. Russia attracted $26 billion in foreign direct investment last year, even after the Kremlin pressured Royal Dutch Shell to relinquish its controlling stake in the Sakhalin II oil-and-gas field, and installed Gazprom as the controlling partner. The Kremlin built Rosneft into the world leader among publicly traded oil companies with 16-billion barrels of oil reserves and 24.7 trillion cubic feet of natural gas, and a reserve life of 30-years for oil and 51-years for gas. Russia’s other top oil producer Lukoil has oil and gas reserves of 20.4 billion barrels of oil equivalent.
Russia also earns 15% of its export revenues from metals and is home to the world’s largest nickel producer, Norilsk Nickel, and Rusal, the world’s largest aluminum company. Russia is the world’s fourth-largest steel maker with foreign sales of $22.5 billion and non-ferrous metal exports of $16.5 billion last year. Russia’s gold mines produced 164.2 tons of the yellow metal last year.
The Russian central bank prints massive amounts of rubles each year, in exchange for Euros and US dollars that are flooding into the country. The central bank said its M2 money supply grew by 52.7% in the 12-months thru April 1st. Yet the US dollar is sliding to seven year lows against the Russian ruble. The Russian central bank said the annual increase in Russian M2 is equal to around 27% of gross domestic product, which creates excessive liquidity and inflates financial assets. The Russian Trading System Index (RTS) has been further inflated by “yen carry” traders, who borrow yen in Tokyo at less than 1% to buy Russian stocks. Russian kingpin Putin on Collision Course with US, Turns to China Russia is the largest economy in the world that is not yet a member of the World Trade organization, and had apparently overcome all major roadblocks in bilateral WTO talks with the US last year. But once Putin made it clear that Russia would continue building Iran’s nuclear reactor, the US began hindering its admission to the global trade body. On April 9th, US Trade Representatives Susan Schwab said Moscow was making only “slow progress for entry into the world trade body.” “We would like to see Russia a full fledged member of the WTO and hope that Russia will undertake the commitments and responsibilities, the obligations that come with being a WTO member,” she said. Schwab also said Congress was not prepared to revoke the 1974 Jackson-Vanik amendment, crucial for Moscow to enter the WTO. On April 23rd, US Defense chief Robert Gates met with Putin to address criticism of Washington’s plans to place missile defense systems in Poland and the Czech Republic, a dispute that is driving relations between the countries to a Cold War low. Putin argues the sites are too close to Russia’s borders and the US could eventually equip the sites with offensive weapons aimed at Russia.
But in a swipe at Russia’s steadfast support for the Iranian regime, Washington says its 10 interceptor missile sites in Poland and radar in the Czech Republic are meant to defend against long-range missile threats from Iran. Washington also accuses Moscow of rolling back democracy and reviving its imperialist past, and Moscow charges Washington with meddling in its domestic affairs. America’s efforts to isolate Iran economically have been frustrated by Putin’s insurance that UN Security Council resolutions against Tehran’s mullahs are watered down as much as possible.
Moscow has also provided Iran with anti-aircraft missile systems and S-300 missiles that could make any possible US military strike on Iranian nuclear sites more dangerous. Then on April 26th, Russian kingpin Putin suspended Russia’s obligations under the Conventional Forces in Europe Treaty, a move he linked to US plans for a missile defense shield in Europe. Two days later, on April 28th, Russia’s pipeline monopoly Transneft said it has built a third of its planned pipeline to China and is on track to complete the 1650 mile pipeline by the end of 2008. The pipeline, Russia’s first oil route to Asia, will eventually pump 600,000 bpd of crude oil to China. Beijing is a major buyer of Russia’s oil and natural gas and lobbied hard for top priority access over Japan to the oil pipeline carrying Siberian crude to Asian markets. China is also helping Russia develop its natural resources, particularly in Siberia. Trading between the two emerging giants is growing rapidly.
In February 2005, Russian Finance chief Kudrin revealed that Chinese banks provided $6 billion in financing for Rosneft’s acquisition of Yuganskneftegaz, secured by long-term oil delivery contracts between Rosneft and the Chinese National Petroleum Company. The CNPC is also involved in several joint ventures with Gazprom to develop energy reserves in Iran. Last year, bilateral Sino-Russian trade was $33 billion, up from $20 billion in 2005, and is expected to reach $70 billion by 2010. China is Russia’s fourth largest trading partner while Russia is China’s eighth largest trading partner. They are the most important members of the Shanghai Cooperation Council, one of the most powerful economic centers of the world. Iran Solidifies Alliance with China Beijing must walk along a delicate tightrope, balancing its hugely profitable trade surplus of $232 billion with the United States, against its increasing dependence on crude oil imports from Iran. An oil exporter until 1993, China now produces only for domestic use. Its proven oil reserves at home could be depleted in 12 years, so Beijing is aggressively trying to secure supplies in hot spots the globe. China’s Sinopec will visit Iran next week to discuss outstanding financial issues on a possible $100 billion deal to develop the giant Yadavaran oilfield said Gholamhossein Nozari, director of the National Iranian Oil Company. Yadavaran is expected to produce 300,000 bpd, about the same amount Iran now exports to China. Royal Dutch Shell is also interested in participating in Yadavaran
Beijing also wants to reinforce its relations with Iran to tap the Caspian Sea energy region, and lessen its dependence on maritime oil imports from the Arab kingdoms in the Persian Gulf, thus securing an uninterrupted flow of oil. China proposes to help Iran modernize its petroleum industry and the wider Iranian economy with industrial technology, capital, engineering services and nuclear technology. The Sino-Iranian economic relationship extends beyond exploitation of Iran’s oil reserves. Beijing sells anti-ship missiles like the Silkworm and surface-to-surface cruise missiles to Tehran, and has assisted in the development of Iran’s long-range ballistic Shihab-3 and Shihab-4 missiles. But Beijing wants to deepen the presence of its firms in the Iranian market, which could be a good outlet for Chinese exports.Blessed with the second largest oil reserves in the world, Iran’s oil production has averaged about 3.9 million for the past three years. However, as a result of surging domestic demand, growing 10% per year and depleting oil fields, Iranian oil and gas revenues are expected to fall from $54 billion in 2006 to $49 billion this year. In ten years, Iran’s 2.4 million bpd of oil exports could dry up, unless new oil fields are developed with the help of Chinese, Russian, or European oil companies. But the US State Department is strongly urging its trading partners not to invest in Iran. The US Congress is pushing a broad spectrum of legislation against Iran this year, with “veto proof” bipartisan support. The most recent proposal is sponsored by Senator Chris Dodd and Rep Tom Lantos, which brings China and Russia into the fray, threatening economic sanctions on any country that aids Iran’s oil industry.

But Tehran is well aware of its commercial links with other nations, and buys one third of its imports from the European Union, led by Germany, France, and Italy. This all means that Iran is actually in a far stronger position than its size. Consider the year of debating, threatening, and blackmailing that went into two UN Security Council resolutions aimed at Iran’s nuclear program. In the end, China and Russia stripped the guts outs of the resolutions. Meanwhile, tension with Iran over its nuclear weapons drive is keeping oil prices high, which in turn, pumps up the flow of cash to the Kremlin and Venezuela. For good measure, Iran sits on the neck of the Strait of Hormuz, through which 17-million barrels of oil flows each day. Once Iran’s mullahs obtain nuclear weapons, the cost of crude oil and shipping rates could sky rocket, and force central banks to inflate their money supplies at an even faster clip, to offset the economic pain.On March 26th, Ebrahim Sheibany, ’s central banker said the Iranian economy can withstand the watered down UN sanctions, and the regime has enough foreign currency reserves to handle any major shocks. “In US dollars, it is at 20% because we need to keep that” he said. Sheibany indicated that is asking overseas buyers of its oil, including , to pay in Euros rather than US dollars, a tactic that is being closely watched by foreign-exchange markets. “That’s our policy and right now we are doing that. I think that this is bad for and the importers. As I say, I believe that they are shooting their own foot because they have international currency and they should take care of that. If not, we are shifting to other currencies,” Sheibany said.
Venezuela’s Hugo Chavez a key player in the “Axis of Oil” Adding Venezuela’s mercurial Hugo Chavez to the “Axis of Oil”, makes matters much tougher for Washington. Venezuela is the fourth-largest supplier of oil to the United States, accounting for more than 10% of American oil imports, and ships 1.3 million barrels of crude oil north every day. Chavez has promised to cut off oil shipments to the US, if Iran is attacked by the US military. Chavez has already reduced oil shipments to the US by 200,000 bpd from a year ago.
On July 30th, 2006, on a two day visit to Tehran, Chavez pledged that his country would “stay by Iran at any time and under any condition. We are with you and with Iran forever. As long as we remain united we will be able to defeat US imperialism, but if we are divided they will push us aside,” Chavez said. He invited Iranian oil companies to invest in Venezuela.
Iran’s president, Mahmoud Ahmedinejad, replied, “I feel I have met a brother and trench mate after meeting Chavez. We do not have any limitation in cooperation. Iran and Venezuela are next to each other and supporters of each other. Chavez is a source of a progressive and revolutionary current in South America and his stance in restricting imperialism is tangible.” Chavez noted that, “Russia helped break a US-imposed blockade by agreeing to sell fighter planes and helicopters worth billions of dollars to Venezuela.” On May 1st, Chavez declared that Venezuela will strip the world’s biggest oil companies of operational control over the Orinoco Belt crude projects that can convert about 600,000 bpd of heavy, tar like crude into valuable synthetic oil. Oil Minister Rafael Ramirez has said that Venezuela will only consider agreements on the booked value of the projects rather than their much larger current net worth. Venezuela says there are around 235 billion barrels of crude reserves in the vast Orinoco Belt, and if correct, would give Chavez the planet’s largest oil supply. Venezuela currently has 80 billion barrels of proven reserves. Petroleos de Venezuela PDVSA is working with oil companies from China, India, Iran and Brazil to certify the Orinoco reserves, while Chavez seeks to reduce his reliance on the United States. The implications are potentially stark for the United States, which imports 62% of its oil supply. Chavez says PDVSA is ready to become the sole energy supplier to Cuba, Bolivia, Nicaragua and Haiti, and would finance up to 50% of the total oil bill. Chavez is also giving away at least 100,000 bpd to Cuba, which the Castro brothers sell on the open market at their own profit, draining Venezuela’s finances further.Chavez is absorbing higher shipping costs to reach China, expanding oil exports to the Asian juggernaut by tenfold, to about 160,000 bpd since 2004. The Baltic Exchange’s Dry Freight Index, a composite of global seaborne trade routes for commodities, hit a record high on April 27th, driven by surging demand for raw materials to Asia. The cost index of merchant ships, tripled to 6,230 points over the past 14-months, surpassing the all-time high of 6,208 in Dec 2004. Venezuelan Finance Minister Nelson Merentes said Caracas used some petrodollars to pay off $4.7 billion of foreign debt in 2006, lowering the national debt by 15% to $26.3 billion. Merentes aims for Venezuela’s debt to be lower than 25% of Gross Domestic Product by the end of 2008. Revenue at PDVSA came to $101 billion in 2006, but the net profit was only $4.8 billion. Chavez spent an estimated $9 billion to keep gasoline prices under 20 cents a gallon, and spent billions more to cement political alliances with Bolivia, Cuba, and Nicaragua.

Because of heavy spending on social programs and subsidizing oil sales to Central America, Venezuela's FX reserves haven't grown anywhere near to the extent of Moscow's hoard. S&P has a "junk status" rating of BB- on Venezuela's bonds, and has put Caracas on notice about a possible downgrade, due to the ouster of Exxon Mobil, ConocoPhilips, Chevron Corp, Total, Statoil , and British Petroleum from the Orinco Belt. That might not scare Chavez however, who can rely on investment from Sinopec, Lukoil, and Petroleos de Brazil for development of the Orinco oil reserves.
The G-7 Response to an “Axis of Oil” Shift from the US Dollar During the last several decades, control of global oil reserves has steadily passed from private companies to national oil companies like Rosneft and Petróleos de Venezuela. Roughly 77% of the world’s 1.15 trillion barrels of proven reserves is in the hands of the national companies, and 14 of the top-20 oil companies are state-controlled. Together, the “Axis of Oil” pumps one-fifth of global oil output. Maintaining the US dollar monopoly on the sale of oil is critical to the Fed’s ability to print money, without sending the greenback into a tailspin. However, if the ”Axis of Oil” and /or the Chinese dragon decide to shift more of their trade surpluses towards the Euro or gold, it could seriously undermine the US dollar, increasing the cost of US imports, and corral the US economy into the “Stagflation” trap. Such a scenario is more likely in the event of a US military strike on Iran. But the Group of Seven central banks have worked together for a long time, dealing with many market crises, usually by coordinated inflation of their money supplies, to keep currencies in stable target zones. Still, a shift by the “Axis of Oil” and especially China, away from the US dollar could override the G-7’s manipulative antics. On May 1st, Fed chief Ben Bernanke warned Congress against imposing tariffs on Chinese imports into the US, which could spark Beijing’s flight from the dollar. “If trade both destroys and creates jobs, what is its overall effect on employment? The answer is, essentially, none,” Bernanke said in Butte, Montana. The Fed’s ability to print unlimited amounts of US dollars and inflate assets, might hang in the balance. This article is just the "Tip of the Iceberg", of what’s available in the Global Money Trends newsletter, published on Friday mornings, for 44 issues per year! Here's what you will receive with a subscription, Insightful analysis and predictions for the (1) top dozen stock markets around the world, Exchange Traded Funds, and US home-builder indexes (2) Commodities such as crude oil, copper, gold, silver, the DJ Commodity Index, and gold mining and oil company indexes (3) Foreign currencies such as, the Australian dollar, British pound, Euro, Japanese yen, and Canadian dollar (4) Libor interest rates, global bond markets and central bank monetary policies, (5) Central banker "Jawboning" and Intervention techniques that move markets. GMT filters important news and information into (1) bullet-point, easy to understand analysis, (2) featuring "Inter-Market Technical Analysis" that visually displays the dynamic inter-relationships between foreign currencies, commodities, interest rates and the stock markets from a dozen key countries around the world. Also included are (3) charts of key economic statistics of foreign countries that move markets. A subscription to Global Money Trends is offered at only $140 US dollars per year for “44 weekly issues”, including access to all back issues. Click on the following hyperlink, to order now, Call toll free from USA to order, Sunday thru Thursday, 2 am to 4 pm EST, at 866-576-7872. This article may be re-printed in its entirety on other internet sites for public viewing, with links required to, Mr Dorsch worked on the trading floor of the Chicago Mercantile Exchange for nine years as the chief Financial Futures Analyst for three clearing firms, Oppenheimer Rouse Futures Inc, GH Miller and Company, and a commodity fund at the LNS Financial Group. As a transactional broker for Charles Schwab's Global Investment Services department, Mr Dorsch handled thousands of customer trades in 45 stock exchanges around the world, including Australia, Canada, Japan, Hong Kong, the Euro zone, London, Toronto, South Africa, Mexico, and New Zealand, and Canadian oil trusts, ADR's and Exchange Traded Funds. He wrote a weekly newsletter from 2000 thru September 2005 called, "Foreign Currency Trends" for Charles Schwab's Global Investment department, featuring inter-market technical analysis, to understand the dynamic inter-relationships between the foreign exchange, global bond and stock markets, and key industrial commodities. Copyright © 2005-2007 SirChartsAlot, Inc. All rights reserved.Disclaimer:’s analysis and insights are based upon data gathered by it from various sources believed to be reliable, complete and accurate. However, no guarantee is made by as to the reliability, completeness and accuracy of the data so analyzed. is in the business of gathering information, analyzing it and disseminating the analysis for informational and educational purposes only. attempts to analyze trends, not make recommendations. All statements and expressions are the opinion of and are not meant to be investment advice or solicitation or recommendation to establish market positions. Our opinions are subject to change without notice. strongly advises readers to conduct thorough research relevant to decisions and verify facts from various independent sources.

US House Passes Hate Crimes Law Would Outlaw Bible & Christianity Bush Promises Veto

US House Passes Hate Crimes Law
Would Outlaw Bible & Christianity
Bush Promises Veto

(A-O Newswire) - Perhaps ironically, the U.S. House of Representatives approved a new "hate crimes" law on the designated, National Day of Prayer. The House bill would make it a crime to to speak negatively about Homosexuality. The House passed the legislation 237 to 180. It would make it easier for federal law enforcement to take part in or assist local law enforcement prosecutions involving "bias-motivated" attacks.
The legislation is so loosely worded that the courts could easily judge the Bible and church sermons to be considered "hate" speech and thus outlaw the Bible and sermons. It will also prohibit churches from discriminating against employing pastors or church workers who were homosexuals.
Essentially, the legislation is the opening of the door towards governmental regulation of churches and religious activities and censorship of the Bible itself.
Mainstream media is not covering the long-term ramifications of the legislation and is instead portraying the law as a societal positive. CNN coverage for example has failed to note that the legislation would reach into church pulpits and or censor the Bible, itself. Why? Mainstream media is being managed to convey the New World Order agenda.
The legislation is the first major step towards outlawing genuine Christianity and turning genuine Christians into criminals. Christianity and Christians must be destroyed so that the New World Order can achieve its global government and bring on the Antichrist.
This latest move by the House of Representatives may or may not stand. The US Senate still has to approve the measure and then the President must sign the new law into effect. The White House has threatened to veto the bill before the debate and vote on the bill. While Bush might veto the bill, don't look for such a veto to be the end of the matter. Bush is in a position where he must veto the measure or lose Christian base that has become his last large base of support.
Should Bush not veto the bill, he would alienate the last constituency he has left. He would effectively have no political support left for anything remaining on his agenda. For that reason alone, he is forced to support the idea of a veto. His veto will likely hold though because it would appear that there is not enough support in the House for a two-thirds majority to override the veto. It will re-surface, sooner or later if vetoed.
Sooner or later, the concept will become the law of the land. It may take another two years, when Democrats take over the White House in 2009, assuming there are elections and the Democrats win. Should martial law develop instead, due to say war or a terror attack, look for the Bush administration to find alternate ways and means to censor Christianity, the Church and the Bible. One way or the other, genuine, Biblically-based Christianity in America is on its last legs. It's hard to believe genuine Christianity will have the freedom to be pursued in America in another 5 years.
More details on the House legislation here. More here.

Israel in Grave Political Crisis While Syria Makes Ominous Military Move

Israel in Grave Political Crisis

While Syria Makes Ominous Military Move

The political situation in Israel has reached meltdown phase today in the wake of the government report identifying who was to blame for the Israeli military failures in the Lebanon war of last summer. The report, released yesterday to the public provided extremely severe criticism of the Prime Minister, Ehud Olmert. It is only an "interim" report and the commission noted that the final report will actually assess blame on those responsible. The interim report outlines severe crticism but doesn't actually point blame at anyone. The final report due in July will identify those responsible by name.
The report's interim draft however identifies a series of blunders made by the Prime Minister, his cabinet and the military commanders.
As a result of the report, Israel's political world has been turned upside down. The Israeli public, even before the release of the interim report, was already inclined towards new elections. Polling showed the Prime Minister had little support in a vote of confidence. After the report, most of the Israeli population is upset and apparently political heads will roll. They won't be alone. Military commanders not already fired will likly be removed soon.
What follows below is a special coverage page devoted to the political situation in Israel which has now become a grave crisis. Israel's political turmoil is giving Israel's enemies thoughts of renewing military conflict to destroy, once and for all, the nation of Israel. As you will see in a story below, Syria has just made an ominous military move that might well signal Syrian intentions to attack israel while Israel writhes in political turmoil.
Political Heat Bubbles In Israel
Gov't Commission Blames PM For War Loss
PM Refuses To Resign
An independent commssion investigating the reasons for the Israeli military's poor showing during last summer's war in Lebanon released a preliminary draft report today that was sharply critical of Israel's government leaders, especially the Prime Minister. Link Here After the commission's preliminary draft was released to the public, calls went up for Prime Minister Olmert to resign. In response to the criticism, Olmert announced that he has no intention of resigning. Details here.

Olmert's Political Party
To Abandon Olmert
Olmert May Be Removed From Power By His Own Party
Senior member's of the Prime Minister's political party, Kadima stated on Monday that they were shocked by the intensity of the criticism in the Winograd Commission's interim report. As a result of that severe criticism, key leaders in the Kadima party are indicating that the party will remove Olmert from office as a way to avoid new emergency elections. More details here.
Israeli Media Drumbeat...
Olmert's Gov't Unfit To Run The Next War
As a result of the Winograd Commission's interim report, the media is now jumping on a bandwagon aimed at forcing Olmert from office. Read an Israeli analysis of the political situation in Israel in the wake of the Winograd Commision's interim report. LINK.
Israeli Media Predicts
Olmert Will Resign

Winograd Commission Report
Triggers Military Commander Shake Up

Labor Party May Quit Olmert's Gov't
Could Trigger Olmert's Ouster

Jerusalem Post Reports ...
Political Poll Shows
No Votes For Olmert
If New Elections Are Called
The Jerusalem Post is reporting that a new Channel 2 TV opinion poll shows that Prime Minister Olmert doesn't even get 1% of a poll asking voters who they'd want as Prime Minister. The Poll showed former PM Benjamin Netanyahu as the leading choice among voters to be the next Prime Minister. Polling also showed that a majority of Israelis want new elections held. LINK

Israel In Political Turmoil
Debka Reports From Israel
Olmert Is Finished
He Just Doesn't Want To Accept It
The Winograd Commission's Report on the Lebanon War of last summer is the talk of all the nation of Israel today and will apparently be so until there is a change in government. Debakfile reports from Israel that mass protests are planned for later this week. There is concern that Olmert's refusal to resign could result in civil unrest and riots. All at a time when Israel's enemies are preparing to attack and destroy Israel. Israel is certain in grave crisis. Read a lengthy analysis of the situation direct from Israel by Debkafile. LINK

Syria Makes Ominous Troop Movements
On Border With Israel

Debkafile, citing Israeli military sources, reports that Syria has recalled an infantry brigade posted on its border with Iraq and redirected that Infantry brigade to the Golan Heights border region with Israel. The move relieved a Syrian "special forces" commando unit that had been holding the border position. The move now frees up that commando unit for new duties, perhaps for offensive military operations as part of an attack spearhead against Israel while the Israeli government is in a state of near paralysis. Details - LINK here.

US Congress Working To Fastrack New Laws To Outlaw Bible & Christianity

US Congress Working To Fastrack New Laws To Outlaw Bible & Christianity
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For those familiar with "America, The Babylon" ( the 2-volume work proving textually, from the original Greek and Hebrew texts of Isaiah, Jersmiah and Revelation, that America is the final, end-days Babylon ) the news of Congress working to outlaw genuine Christianity and turn Christians into criminals should come as no surprise. Yes, you read that correctly.
Congress is now moving to outlaw the Bible and Christianity!
If Congress follows through as it now appears, a new "hate-crimes" law will make criminals of Christians and subject them to long prison terms, though eventually the penalty will be death.
Why would Congress do this? Congress is and always has been under Satanic control via the fallen angel whose Idol image stands atop the Capitol Dome. The Capitol Building where US lawmakers meet is a pagan temple dedicated to the MOTHER OF THE HARLOTS
Background Explanation
If you're an American Christian you will most likely disbelieve that your America, "God's favorite nation" could turn its back on Christianity. After all "God shed His grace on thee" as the song goes. Congress would never outlaw Christianity, would it?
Not only would Congress outlaw Christianity but is doing so now in the building originally called The Temple of the goddess of Liberty - who originally was the chief goddess of Babylon - Ishtar- also known as the goddess of Liberty/Freedom and also known as the MOTHER OF THE HARLOTS. LInk to US Library of Congress web page admitting to the Capitol being the Temple of Liberty.

Above Left: An idol of the chief Babylonian goddess, Ishtar found by archaeologists. The goddess holds a torch in her left hand and in her right hand an object much like the Statue of Liberty's torch.
Above Center: The Statue of Liberty who's sculptor Frederick Bartholdi wrote that the statue was his way of representing his impression of the Roman goddess Libertas, or Rome's goddess of Freedom/Liberty. Perhaps Bartholdi, a Freemason did or didn't realize that the Roman's goddess Libertas was borrowed from Babylon who was known in Babylon as Ishtar, Goddess of Liberty/Freedom, as well as MOTHER OF THE HARLOTS, Goddess of Justice and Faith, Goddess of War, Goddess of Love, Goddess of Fertility, Queen of Heaven who's also known as the Morning Star, her temporary base being Venus and her Home Star - the Dog Star - Sirius, from whence she originated.
Above Right: A close-up view of the statue - goddess of Freedom which stands atop the US Capitol Dome. This too is another "idol" of Babylon's chief goddess Ishtar, known as Libertas to the Romans. In this artistic version the goddess carries a sword, signifying her warrioress qualities as the goddess of war. However, due to objections by the soon-to-be President of the Confederacy, the statue was modified from its original design in regards to the headress. Originally it was supposed to have had the "Freedom cap" but after slave-holding states objected, the headress was given a more "Indian" motif with feathers and stars.
With this latest effort of Congress to outlaw Christianity, it should come as no surprise to A-O readers who've read "America, The Babylon" The Irony of the situation is mind-boggling though.

Above: Orginally called by the founding fathers as "The Temple of the goddess of Liberty. The Capitol Building is actually dedicated to the Roman goddess Libertas whom the Romans borrowed from the Babylonian\s chief goddess, Ishtar, also known by Isthar worshippers as "The MOTHER OFTHE HARLOTS." Verifying links here.
Link here confirming Capitol's original design was to copycat The Roman Empires Temple dedicated to all the pagan gods of Rome - The Pantheon. Thing was, the Romans borrowed the Pantheon idea from the Babylonians - So the building where the Congress meets is a "temple" to Ishtar - MOTHER OF THE HARLOTS, whose design is a copycat of the Roman/Babylonian Pantheon - a pagan temple dedicated to ALL the gods and godesses of Rome/Babylon.

The Congress, meets in the Capitol Building which the founding fathers orginally named as the Temple of the Goddess of Liberty or Freedom. That goddess is actually the chief goddess of Babylon known as Ishtar/Inanna who held many titles in Babylon - including the title of goddes of Liberty as well as the title of "THE MOTHER OF THE HARLOTS." It was a title of great honor, reverence and holiness to her worshippers.
The founding fathers of America, officially called the building where law makers would meet as being a Temple of Liberty, dedicated to the Goddess of Liberty. Most people do not understand that the Goddess Liberty is actually the Harlot of Revelation 17:5 - "The MOTHER OF THE HARLOTS."

New Laws Proposed
Being "Fast-tracked"
Under the Banner of Hate Crimes Laws
H.R. 1592 Has 137 Sponsors!

It would appear that its just a matter of time before "Bible-believing" Christians will become criminals and the Bible will be outlawed as a "Hate" publication under new legal proposals being fast-tracked in Congress.
A new proposal in the US House of Representatives - H.R. 1592 is a new bill that criminalizes thoughts, feelings, and beliefs. It has the potential for interfering with religious liberty and freedom of speech under the guies of "hate" speech.
The new legislation, if passed, would effectively outlaw the Bible and Biblically-based Christianity and make criminals of genuine Christians who believed the Bible. The proposal is designed to protect homosexuality through a new federal law that would turn "thoughts, feelings and beliefs" into criminal offenses and put Christians in the bulls-eye for federal prosecution.
Under the new law, Christian groups like "Focus on the Family" with James Dobson would become illegal groups and Dobson could find himself facing "LIFE IN PRISON."
Reveredn Ted Pike of the National Prayer Alliance has been a leading figure in fighting this law. He has stated:
"Most persons who are concerned about imminent passage of the federal 'anti-hate' bill don't realize that S. 1105 in the Senate and H.R. 1592 in the House are actually amendments to a federal hate law passed in 1969. During the height of the civil rights movement, 'Title 18, U.S.C., Sec. 245' stipulated that no one could verbally '…attempt to…intimidate' another person (chiefly black) away from enjoyment of their federally protected right to equal employment, public services, housing, voting rights, jury privileges, etc. If the government finds such verbal 'intimidation' in a state and state officials are not enforcing these guarantees, the federal government can invade states' rights in local law enforcement, upholding Title 18,"
Pike notes that in 2007, the new measure will give special treatment to homsexuals, transexuals and transvestites.
The proposal would make it "federally indictable to '…attempt to…intimidate' a homosexual from believing that he (even if he has AIDS or hepatitis) has the right to work in a restaurant, be employed as a police officer or summer camp counselor, or has equal rights to housing and employment anywhere he wishes," according to Reverend Pike.
Any ministry, church, pastor, publisher or Christian broadcaster who even merely cites Bible passages prohibiting or mentioning homosexuality in a negative way would be considered in violation of the law and could face an extra 25 to 50 years in prison just for saying or publishing a few words.
And of course, with the new law, it would be illegal for a church to refuse to hire a homosexual or lesbian as a church pastor or other job position in the church.
WorldNetDaily is reporting that the proposal has been endorsed by a majority of Democrats on the House Judiciary Committee and has 137 congressmen sponsoring the bill. For more details on this amazing story, LINK here.
The state o New Hampshire has beaten the US Congress to the punch by enacting its own "Hate Law" before the US Congress could act first. It is an exceedlingly "grim" law. Here's more on the subject. LINK

Revelation 17

1And there came one of the seven angels which had the seven vials, and talked with me, saying unto me, Come hither; I will shew unto thee the judgment of the great whore that sitteth upon many waters:
2With whom the kings of the earth have committed fornication, and the inhabitants of the earth have been made drunk with the wine of her fornication.
4And the woman was arrayed in purple and scarlet colour, and decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication:
5And upon her forehead was a name written, mystery, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS OF THE EARTH.
6And I saw the woman drunken with the blood of the saints, and with the blood of the martyrs of Jesus: and when I saw her, I wondered with great admiration.
3For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies.
Also 18:23B
for thy merchants were the great men of the earth; for by thy sorceries were all nations deceived.
This last verse notes that not only is wine involved by industrial-strength "pharmakeia" - or the use of chemicals and the entire panoply of occult practices including modern medicine, science, plastics, oil & gas industry, chemical industries.
What Will Convince US Christians that America is Babylon?
This news of Congress working on legislation to outlaw Christianity while pretending to be a "Christian" nation ought to be enough to wake up the Christians in America because this Congressional move is the latest example of America, gone Babylon and beyond. But American Christians won't wake up because most of them are drunk on the wine of blasphemy which the Church has been drinking just like the rest of the world. ( see Revelation 17:5
Will American Christians ever wake up to the fact that they are living in the Babylon prophesied by Isaiah (chpts 13, 14, 47) and Jeremiah (chtps 50, 51) and by John in Revelation chapters 17 and 18?
It is all too likely that Americans likely wake up too late, if at all, to understand what's going on around them. As the Prophecies state clearly, the Harlot has made the whole Earth "drunk" and the Church in America is drunk from the Harlot's wine just like the rest of humanity.
Yes, the American Church has become drunk on the Harlot's wine which is the Wine of Freedom/Liberty and "democracy." For that reason, the Church has been asleep for 200 years, anf most of the alleged "American Church" has been following a false gospel meaning there are very few Americans who are or ever were Christians. Most American "Christians" past and present are eternally damned because they altered salvation. Salvation is by Grace through Faith Alone - NOT BY HUMAN EFFORT. However, most American Christians try to add human effort into the salvation mix and create a new gospel.
The Apostle Paul writes in Galatians 1:6-9 that anyone who adds "human effort" to the pure gospel of Grace Through Faith Alone, is eternally damned, without hope because they have cut-off grace, insulted God and rejected God's simple offer.
This false gospel of salvation by faith PLUS Works is prevalent in most churches in America today, perhaps in as many as 98% of American Churches both now and throughout America's history.
There is a slow awakening by some American Christians already to the idea that something is horribly wrong and have begun to wonder if America might well be Babylon. For those of you who are A-O readers who recognize and understand that America is the Babylon of Biblical Prophecy, you would do well to pass along your copy of "America, The Babylon" to others, or obtain an extra copy from A-O by donating $25 to keep the website alive and going. Click here for details on obtaining a copy.

US Wants To Require Rx For Vitamins & Supplements

US Gov't Goes INSANE
US Wants To Require Rx For Vitamins & Supplements

The FDA is ready to classify vitamins and supplements, drugs and even water as needing to be regulated by prescription authorizations. The FDA has proposed regulating such substances and has given opponents of the idea until the end of April to argue against regulating such substances.
The FDA is "fast-tracking" the idea under the guidance of a new administrator who took over the agency just last year. The new policy would regulate vitamins, herbs, alternative therapies, even juices and "Holy Water." The new regulations could make it necessary for Americans to get a prescription from their doctor for vitamins
Not only that, but farmers or ordinary folks with a garden in their backyard growing ordinary garden herbs could find themselves arrested as a drug dealer. Massage oils and handheld massagers would also be illegal without a prescription from a doctor.
Even vegetable juices will be regulated as a drug and require a prescription. That means Americans will have to get a prescription just to enjoy Tomato soup or have a glass of orange juice for their breakfast.
Raw sprouting vegetables and other anti-cancer foods will become regulated as drugs. Any liquids like Gatorade or "Power drinks" or water or sports drinks that are marketed for preventing dehydration. The use of heating rocks as a method used in massage would be outlawed also.
One thing that will happen immediately, if approved, will be the disappearance of foods, vitamins, supplements and homeopathic remedies from store shelves. Apparently this would include first-aid supplies like band-aids, rubbing alcohol, even hydrogen peroxide. Anything of a healthful nature would now come under the "Big Brother" umbrella of the FDA.
The entire FDA authorization proposal is outlined in FDA Docket Number 2006-0480. The approval of such a proposal will not automatically mean that all items will immediatly require a prescription but that such items will fall under FDA regulations. It will take some time for the FDA to begin instituting prescription requirements for items like vitamins and supplements but the pharmaceutical industry is but one of many lobbying for prescription requirements for monopolistic reasons.
Such news should remind Prophecy students of the Babylon prophecy statement in Revelation 18:23b
"for thy merchants were the great men of the earth; for by thy sorceries (pharmakeia - pharmaceuticals - chemicals) were all nations deceived.
This verse clearly tells us that Babylon's merchants were the "mega-merchants" of the Earth and by their "pharmakeia" ( the word means the business of chemicals, drugs, & occult-related practices) the world is deceived and "under their spell" so to speak. This FDA proposal is clearly designed to widen the scope of their deception beyond measure. For more on this story, read the WorldNetDaily 'expose' on this subject. LINK here.

As it really is!

As it really is!
Posted: Friday, May 04, 2007 - written by jerry golden

Once again I want to reiterate that Israel has never been faced with such a threat to its very existence. With Leadership unable to see anything but their political future in danger and not caring about what is best for the State. The most recent curse on Israel was the second horrible gift given to us by Ariel Sharon, the Kadima Party, first was the Disengagement from Gaza. But there is a third and he has a name Ehud Olmert, and this third and present curse has himself given us a defeat at the hands of a Terrorist Party that has now encouraged our Arab neighbors to believe that they can now destroy the once thought to be unbeatable IDF. As you are reading this Syria is massing their army on our northern border along the Golan Heights. It is also good to remember that Syria and Iran have a pack to go to war together against the Zionist State.

While I am reiterating why not say this again as well, before Bush went to war he made a deal with the Arab world that if they will sit still he would deliver Israel into their hands, he has been doing his dead level best to do that with the Road Map to Hell. Yesterday Condoleezza Rice met with the Syrian Foreign Minister at Sharm e-Sheikh, Egypt. Think about that for a minute, this is one of the axes of evil that the Bush administration would not meet with because they supported terrorists. If you will allow me I want to carry this a step or two further, I have always believed that Iraq had weapons of mass destruction and that they were all moved into Syria, in fact I believe that Bush knows that, what I can’t understand is why he has not opening said so. There were a few high ranking Iraqi officials who defected to the US right after the war that even told the locations of these weapons in Syria, and how convoys of trucks traveled for days into Syria carrying those weapons. So my question would be if Bush isn‘t part of the EU and UN plot to destroy Israel along with the Arab world, then why at this time knowing the above is Rice speaking with the Syrian Foreign Minister in Egypt of all places?

Last night over 200,000 of us Israelis gathered in Rabin Square in Tel-Aviv to demand that the failure Olmert GO HOME and that will not be the last such rally, for many more are planned. He has a “0” approval rating and still refuses to step down, what is even more disturbing is the MK’s in the Kadima and Labor Parties who know what they have brought on this country with their Disengagement and last summer’s Lebanon war will also not step down and call for new elections when they know that the over whelming majority of Israel is demanding it. All of this is simply showing that the idea of democracy in Israel is now dead and the only way for it to be resurrected is for the people to continue to demand their resignations and call for new elections.

But new elections bring with it a set of new problems here in Israel it would seem that the Likud (the party I’ve always been with) is now once again headed by Netanyahu, he says he has learnt his lessons and is now ready to lead the country. I will be the first to admit that he is the best of the possibilities we now have, but that does not mean that we here in Israel have forgotten his performance of the past when he gave away the second most Holy City in Israel Hebron and to add to the insult he also gave them Bethlehem and was about to give them Jericho but was forced out of office. I like many others have not forgotten that he was in favor of the Gaza Disengagement one day and against it the next and then for it back and forth seeming to go with the polls from one day to the next.

We here in Israel don’t vote for a man, we vote for a Party and that Party designates who will be the Prime Minister and often times it is not the best man in that Party but the most popular one. For example in the Likud there is such a man who has never taken bribes, has never been corrupted and has always stood for the Zionist State of Israel regardless of how unpopular it may have been, his name is Uzi Landau, but Uzi doesn’t have much of a chance of being elected by his Party (Likud) to be the Prime Minister because he is labeled a rebel. So Netanyahu it will be, and all I can say is God help us. But even Netanyahu is a major improvement over the present failure that now sits in that office. I know that Netanyahu is a very popular Israeli leader among most evangelical Christians but they know little of the inside working of Israeli politics and I feel that he cannot be trusted.

So when you put all the above together it draws a very disturbing picture. One thing is almost certain we are about to go into a terrible war, this time with an enemy who has missiles that can reach every part of Israel and known to be armed with chemical and biological warheads. It would seem that the only way that Syria can now be stopped is by a nuclear bomb on Damascus (Isa. 17:1). The longer Israel sits still under the leadership of Olmert our enemies are getting stronger by the day as they frantically prepare for war. The UN has turned a blind eye and many cases assisted Iran’s rearmament of Hezbollah in Lebanon. Russia has supplied all the missiles Syria needs, and the US has made Egypt a military might in the region. Simply put we are surrounded as many are saying by a sea of Arabs threatening once again to destroy us. And in the meantime among us live the so-called “Palestinians” who have been teaching their children from kinder garden through college that their greatest honor is to kill Jews for Allah. Daily we have been shelled from the Gaza Strip into our southern cities and not once has the international community said anything about this act of aggression against out civilian populations, we are in trouble and if we don’t take care of ourselves we are doomed, lest God sends us a miracle.

There is a good ending for us who know God and love Him, for He will continue to bring His chosen back to the land promised to them as an everlasting covenant. God has called us to prepare to rescue Jews who will be fleeing Europe soon, running for their lives and we are about preparing with your help. I am asking God today to speak into your heart and spirit what He would have you do.

Pray for the peace of Jerusalem, for our son Joel, and all the IDF soldiers. Pray for this Ministry and your part in it. Shalom, jerry golden
The Golden Report