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The Alpha-Omega Report's

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Weekly News Round Up

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For February 21, 2010

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The recent assassination of a top Homas official carried out in Dubai has led to suspicions that Israel's spy agency, The MOSSAD, was behind the killing operation using an 11 member team, some of whom carried British passports.

The revelation that some of the assassins in the team were using British passports has prompted the British government to consider severing its intelligence-sharing agreement with Israel. British lawmakers are reported to be furious after learning details involving British passport usage.

Israel has never denied involvement with the assassination has remained silent on the assassination of Hamas military commander Mahmoud al-Mabhouh that was carried out earlier this year in a posh hotel in Dubai.

Although Israel had previsouly promised it would never use British passports as part of its Mossad spying activities, the British government summoned Israel's ambassador to the British Foreign Office for an accounting. He is expected to give an accounting of Israel's activities and involvement in the incident.

For more details, LINK HERE.

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China is no longer the number one holder of US debt. Records from December bond trading show a record drop in foreign holdings of US T-bills. China is now reducing its investment exposure to the U.S. and after being the number one holder of US doubt for a year, has relinquished that honor back to Japan.

Foreign ownership of US Treasury Bills fell by a record drop of $53 billion dollars in December. The previous record drop was set earlier in April of 2009, meaning two record drops in less than a year.

China reduced its holdings of Treasury securities by $34.2 billion in December of 2009. The Chinese have repeatedly told U.S. leaders that America has unsustainable debt levels and that there is no sound policy for dealing with the debt. The Chinese are now doubting America's ability to repay its debts. With China balking at buying US debt, and other foreigners following suit, the Obama Administration and its Democratic Congress will be facing an economic crisis far worse than the 2008 banks & stock market collapse.

There is also a concern among economists that continued declines in foreign debt holdings could force a sharp, upward spike in interest rates and threaten any economic recovery and that would lead to a pancaking collapse that results in America going bankrupt. More details, .

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In the middle of an economic crisis, Greece has now lost the right to vote on EU decisions, EU bankers struggle to find a way to resolve Greek finanical debt.

There is growing concern that Greece and other EU nations suffering similar woes may cause the EU to collapse. An EU collapse would negate a Biblical prophecy theory that the EU meet's the criteria to be Daniel's revived Roman Empire. More details, LINK HERE.

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Among those lobbying for Global Warming climate change laws have been some major corporations. Three of those big corporations are now dropping out of the climate-change lobbying group in Washington. British Petroleum and ConocoPhillips alnog with the Caterpillar company have all announced they're not renewing their membership in a lobbying roup called "The U.S. Climate Action Partnership." The group had been instrumental in lobbying for "cap and trade" legislation.

The announcment by the three major corporations comes as the debate over Global Warming and climate change has turned against Global Warming advocates in part because of admissions of fraud by key scientists as well as unprecedented winter storms and colder temperatures for the past 15 years. For more details on this story, LINK HERE.

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Wal Mart reported its 4th Quarter sales fell by 2 percent for the same stores during the Christmas holiday quarter of November, December and January. The retailer blamed the sales drop on lower, deflationary prices, but shoppers complained of rising prices not lower prices. Undoubtedly, Wal Mart's sales drop is due to a slowing economy.

More details, LINK HERE.

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The Dutch government collapsed on Saturday after part of the coalition government announced it was quitting the coalition over irreconcilable differences on whether the Netherlands should continue its NATO role in the Afghanistan conflict.

More details, LINK HERE.

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The El Nino that is bringing severe winter storms across North America is also triggering severe drought in Venezuela, creating serious political problems for President Hugo Chavez. The drought conditions have had a severe impact on Venezuela's electrical grid which relies heavily on hydro-electric power plants which in return rely on normal water levels to generate electricity.

The drought has also triggered water conservation and rationing. It is also drying up Venezuela's economy as factories close and stores and offices reduce working hours. President Chavez calls the situation a "true emergency" and blames the El Nino and "climate change." Others suggest Divine punishment.

Chavez has become close allies with Iran and Chavez supports Iran and its battle against Israel. God's promise to Abraham ("I will bless those that bless you and curse those that curse you" - Genesis 12:3) is being proven true to the Venezuelan people and to Chavez - though given Chavez' remarks, the Venezuelan leader has not come to grips with the fact that God is behind the weather problems. More details, on Venezuela's situation - LINK HERE.

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