Dow sinks more than 350 points to 21-month low

GM shares sink to low not seen since 1955

Dow sinks more than 350 points to 21-month low...

MoneyNews.com reported on June 26, 2008:

Wall Street stocks skidded to one of the year's worst losses as oil surged over $140 for the first time ever and swamped markets already sinking under the weight of revived credit fears.

Concern mounted over more write-downs at major U.S. banks as investment bank Goldman Sachs sent an alarming note to clients about further losses. A separate Goldman note on the auto industry's woes sent General Motors stock plunging to its worst level in 53 years.

The dollar retreated broadly as investors discounted the chance of a U.S. interest rate hike any time soon after the Federal ReserveWednesday held rates at 2 percent. That boosted the euro to a record high of 169.45 against the yen.

Oil prices surged nearly 4 percent to a record over $140 a barrel after Libya said it was studying ways to cut output in response to potential U.S. actions against producer countries.

Crude was boosted earlier in the day by the weak dollar and comments by OPEC President Chakib Khelil who said prices could rise as high as $170 this summer.

A broad rally in agricultural commodities, which have been pummeled by the worst flooding in the U.S. heartland in 15 years, pushed corn prices to an all-time high as grains rallied in tandem with oil and gold, and fed fears that inflation will soon rage.

"The inflationary markets are running higher," said grains analyst Don Roose of U.S. Commodities, referring to active buying in the grain, gold and energy markets.

Gold ended nearly 4 percent higher as funds poured into commodities due to tumbling stocks after oil surged and boosted bullion's appeal as an alternative investment.

The blue-chip Dow slid 335 points to a 21-month low after Goldman Sachs urged investors to sell bank and automaker shares, fueling concern about the outlook for corporate profits.

Investors found little to lift their spirits amid the barrage of bearish news, and major stock indexes in Europe and the United States fell more than 2 percent.

"The price of oil is now at $140 and there is real concern that global growth is going to seriously slow down and that's hitting all sectors," said Eddie Bakker, managing director of equity sales and trading at Calyon Securities in New York.

Financial stocks plummeted after Goldman Sachs forecast additional write-downs of $8.9 billion at Citigroup and $4.2 billion at Merrill Lynch & Co.

Goldman also put Citigroup on its "conviction sell" list, and a Sanford C. Bernstein analyst said Merrill will take $3.5 billion in write-downs.

Shares of Citigroup fell 6.3 percent and Merrill Lynch & Co. fell 6.8 percent.

GM sank 10.8 percent to lows last seen in 1955.

The Dow slid 358.41 points, or 3.03 percent, at 11,453.42. The Standard & Poor's 500 Index fell 38.74 points, or 2.93 percent, at 1,283.23. The Nasdaq Composite Index was down 79.89 points, or 3.33 percent, at 2,321.37.

Banks also led European shares lower. Dutch-Belgian group Fortis was the top percentage loser, sliding almost 19 percent after saying it would shore up its balance sheet with measures worth more than 8 billion euros ($12.54 billion), including issuing new shares.

Barclays shed 5.8 percent, Credit Suisse fell 2 percent and Deutsche Bank slid 3.3 percent.

The FTSEurofirst 300 closed down 2.5 percent at 1,197.02 points in its worst single-day percentage fall since mid-March.

The weaker dollar helped oil prices rebound, along with Libya news and comments by the president of the Organization of Petroleum Exporting Countries.

"I forecast prices probably between $150-$170 during this summer. That will perhaps ease toward the end of the year," Chakib Khelil told France 24 television in an interview.

The euro strengthened because in contrast to the Fed's pause, the European Central Bank has repeatedly said it may lift rates in July to fight inflation.

"The dollar is on the ropes and has further to fall unless the Fed can correct the market perception that U.S. rates are on hold indefinitely," said Michael Woolfolk, senior currency strategist at The Bank of New York Mellon.

The benchmark 10-year U.S. Treasury note rose 14/32 to yield 4.043 percent. The 30-year U.S. Treasury bond gained 22/32 to yield at 4.61 percent.

The euro was up 0.59 percent at $1.5761.

The dollar fell against major currencies, with the U.S. Dollar Index down 0.60 percent at 72.47. Against the yen, the dollar fell 1.04 percent at 106.71.

Gold last traded at $912.60/913.60 in New York.

U.S. crude settled up $5.09 at $139.64 a barrel, after hitting an all-time high of $140.39 earlier, eclipsing the previous record of $139.89 a barrel hit June 16. London Brent crude settled up $5.50 at $139.83 a barrel.

"The primary reason bonds are doing so well are the concerns over financials, banking shares are doing particularly badly," said ABN AMRO strategist Harvinder Sian.

Overnight in Asia, stocks and government bonds mostly rose after the Federal Reserve on Wednesday kept rates steady and signaled it was in no hurry to raise them in the near term.

The MSCI index of stocks in the Asia-Pacific region outside of Japan rose 0.7 percent, while the pan-Asia index gained 0.2 percent.

Japan's Nikkei share average closed slightly lower, extending a losing streak to six days.

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"You will understand and broadcast the message to the world that there will be a great destruction in the monetary systems of the world. It will affect both the United States and Canada, and all the great powers of the world." - Our Lady of the Roses, November 1, 1985

"My child and My children, the days will grow darker, and there will be hunger in your land. Yes, My child, what I brought you here for this evening is to tell the world that there will be a crash in the monetary doings of your government—an absolute crash that will affect every man, woman, and child in the United States and Canada, and then, like a serpent, creep all over Europe, until the world sees one big, massive depression. I can illustrate to you, My children, what I mean by this monetary depression.
"Should you go and wish to buy a small instrument, even a guitar, that We hear plucking away at the dervishly, and devilry, of what is called the musical Mass, strung by guitars, and other creations of satan. My child, I go on to tell you, you will say that the guitar is not a costly item, but in order to buy this guitar you will carry an actual satchel, an overnight bag-size, My child—let Us put it that way clearly—of notes, your currency. It will take a whole suitcase of paper—paper money that no longer has a value. You will soon be reduced to bartering for your food.
"My child, I know you are affrighted at this word 'war'; 'death', 'turmoil', 'depression', but what can I do but tell you the truth. I cannot smooth over it, for I would be accepted like those upon earth who like ostriches, they walk about, proud in their scientific knowledge." - Our Lady of the Roses, September 7, 1985

The awesome Bayside Prophecies... https://www.tldm.org/Bayside/default.htm
These prophecies came from Jesus, Mary, and the saints to Veronica Lueken at Bayside, NY, from 1968 to 1995:

A godless nation shall fall! . . .
"Without My Son you are lost. A godless nation shall fall. A nation that has been eaten away and rotted by sin shall fall. A nation that has turned itself back and regressed to a state of animal living bordering on all sins of the flesh and impurity; given over to all manner of seeking things of the world; power, lust, envy, hate, murders, abortions, worship of false idols; loving money, power, and lacking the instinct of survival when survival can only be reached by pleading from them to the merciful heart of the Eternal Father." - Our Lady, June 13, 1981

A great money disaster . . .
"My child and My children, pray a constant vigilance of prayer. Keep this going throughout the United States and all of the nations of the world, for there is little time left. Soon, in the plans of the Eternal Father, He shall set forth and allow to come upon mankind, a great money disaster. In this way it will prove to you that the disaster back in the 1920's, My children, was as nothing compared to what will happen now. I talk of a great depression coming upon mankind." - Jesus, October 1, 1988

Destruction of the world monetary systems . . .
"You will understand and broadcast the message to the world that there will be a great destruction in the monetary systems of the world. It will affect both the United States and Canada, and all the great powers of the world. And I repeat again: You will go to your stores to do your shopping carrying papers which may as well be newspapers, for the value they will have to purchase even food will be nil.
"How can a great country like the United States fall, you say, My child? You ask Me in your heart. I read your heart. I will tell you why. Because they have given themselves over to satan. When a country has lost its morality and seeks the pleasures of the flesh, giving over, themselves over, to all manner of abominations, like homosexuality, and condoning this up the highest courts of the land, then that country shall fall." - Our Lady, November 1, 1985

Gathering of the world's money to control the masses . . .
"Man shall not create a new world as he seeks. For there cannot be a lasting world without His God. And I speak not of the false idols and gods that man creates in his human nature! There is only one Creator.
"You who cast aside this knowledge and choose to set yourselves up by power and the gathering of the world's money to control the masses, you will find that all of your power and all of your volumes of gold and silver cannot hold back the heavens as they descend upon you in a just chastisement. The world, the earth shall tremble, fear shall come upon mankind as he watches the approach of the destruction that he himself has chosen to set loose." - Jesus, February 10, 1978

Evil force like an octopus . . .
"There is a great evil force now enshrouding your world; it is like an octopus reaching out in every direction to ensnare the world. It is a force of evil set up by satan. There are many arms of the octopus controlled by the monies of the world.
"For the love of money and riches, many will sell their souls to get to the head. O My children, what do you gain if you gather all of the riches of the world and destroy your soul. When you come over the veil, and you will come over the veil, what will you bring with you - nothing of the material. You must gather your riches in Heaven now. They are supernatural: the graces, the merits that will allow you to enter into the Kingdom of your God." - Our Lady, June 24, 1976

The Illuminati . . .
"There is a group in the United States and the world, a group that started many years ago, calling itself the Illuminati, coming from the word 'light bearer'. Naturally, My children, this light that they bear stands for Lucifer, and as such they have gone through the world secretly known as Luciferians. They have brought into your country, the United States, and your neighbor Canada, a group of witchcraft practices. Well have they laid their plan to destroy your children with drugs, using your school systems, your medias of communication, your newspapers, your televisions, your radios: every means of communication has been infiltrated by the member and sub-members of the Illuminati, a conglomeration of individuals and powers and principalities throughout the world, and banking systems. As you well know, My children, money has always been the root of all evil, and many have sold their souls to get to the head." - Our Lady, November 25, 1978

You are worshiping idols . . .
"My children, you must change your values back to the plan of your God. As a nation, as a country, as in many countries throughout the world, you have become paganized and immoral. My children, it is the gauge for the fall of mankind: immorality and paganism. No nation shall stand without its God, the God in Heaven.
     "Man is creating many new gods, gods to feed his human nature; and it is a basic carnal nature. Idolaters abound. When you worship in abundance things, My children, you are worshiping idols! If you spend your time gathering things, money, power, you are worshiping idols. Remove yourself from these worldly pursuits.
     "It is a narrow road to the Kingdom of your God, Heaven. Many are called but few are chosen. The road with satan is wide. Many walk it and can never leave, because there are too few prayers said for them and by them.
     "Nothing is impossible to your God. Man shall never reach the highest pinnacle of Heaven in knowledge." - Jesus, March 18, 1978

Many will sell their souls to get to the head . . .
"The road to Heaven, My children, is a narrow one; too few stay upon it. For they are often carried away with the cares of the world, and the pleasures of the materialistic pursuits, and their gathering of money and prestige and power. For what? For the few short years allotted to each human upon earth. I ask you to ask yourself: is it worth it to lose your soul? Many will sell their souls to get to the head." - Our Lady, November 20, 1979

Gather your graces . . .
"You cannot accept two masters. One you will love, and the other you will learn to hate. And remember, My children, where your treasures are, your heart will always lie. And better that you gather your treasures in a place where there is neither rusting, nor attacks by moths, and robbers cannot take them from you. Store your treasures in Heaven, My children. Gather your graces. You must ransom your soul and the souls of your children, your households. Do not wait expecting to be repatriated at the last moment, My children. Many are coming across the veil unprepared, and, sadly, they cannot be accepted into the Kingdom." - Jesus, August 5, 1977

Store canned goods, water and blankets . . .
"My children, I caution you now, and I wish that you remember these instructions from several years ago in earth's time that I gave to you, to keep in your homes a good supply of canned good. They have shelf value, My children, they will not spoil. But better that you keep them and they spoil than to have come upon you the great Chastisement. It will be a ball of fire which will ignite many of the chemicals that are being stored up for the destruction of the nations.
"My children, not only with the canned foods will you store just food, but you must also make known to your families and your friends that they had best keep blankets and water in tight containers; for there will be on the onset of the Chastisement, there will be nothing that you can buy due to contamination." - Our Lady, July 1, 1985

Read the Bayside Prophecies:
September 7, 1985 message -- World monetary crash: "One massive depression" (click here)

Directives...

D213 - Riches, Part 1 PDF
D214 - Riches, Part 2 PDF
D307 - Monetary crash PDF

Articles...

Credit crisis and stock markets:

Zuckerman compares current 'financial crunch' to Great Depression
https://www.tldm.org/News11/ZuckermanComparesCrisisToGreatDepression.htm

European, Asian markets plunge
https://www.tldm.org/News11/EuropeanAsianMarketsPlunge.htm

Subprime Nation
https://www.tldm.org/News11/SubprimeNation.htm

Leading lender H&R Block likens US credit crisis to Great Depression
https://www.tldm.org/News11/H&RBlockLikensCrisisToDepression.htm

Fed faces gigantic insolvency time bomb
https://www.tldm.org/News11/FedFacesInsolvencyTimeBomb.htm

Global money markets tighten on cash shortages
https://www.tldm.org/News11/GlobalMoneyMarketsTighten.htm

Dollar collapse, stock market sell-off looms
https://www.tldm.org/News11/StockMarketSell-offLooms.htm

No time to sit and watch: "What we have on our hands here, folks, is a full-blown, global financial crisis"
https://www.tldm.org/News11/GlobalFinancialCrisis.htm

World stock markets spiral lower
https://www.tldm.org/News11/WorldStockMarketsSpiral.htm

Fed OD’s on liquidity but risks depression
https://www.tldm.org/News11/FedRisksDepression.htm

U.S. Comptroller General: Learn from the fall of Rome
https://www.tldm.org/News11/ComptrollerGeneralFallOfRome.htm

Perfect storm of debt rattles Wall Street
https://www.tldm.org/News11/PerfectStormOfDebt.htm

Asian stocks tumble the most in five months on credit concern
https://www.tldm.org/News11/AsianStocksTumble.htm

Subprime panic points to taxpayer bailout
https://www.tldm.org/News11/SubprimePanicTaxpayerBailout.htm

Fed cowardice invites catastrophe
https://www.tldm.org/News11/FedCowardiceInvitesCatastrophe.htm

Foreign money props U.S. economy
https://www.tldm.org/News11/ForeignMoneyPropsUSEconomy.htm

U.S. Treasury Secretary Henry Paulson: Coming financial crash shows need for immediate monetary reform
https://www.tldm.org/News11/PaulsonComingFinancialCrash.htm

Slow demise of the mighty greenback
https://www.tldm.org/News11/DemiseOfMightyGreenback.htm

Credit spree could cause 1930s-style depression
https://www.tldm.org/News11/CreditSpreeCouldCauseDepression.htm

Gloom gathers over U.S. economy
https://www.tldm.org/News10/GloomGathersUSEconomy.htm

It’s official: The crash of the U.S. economy has begun
https://www.tldm.org/News10/CrashOfUSEconomyHasBegun.htm

The plan to destroy America - via the dollar
https://www.tldm.org/News9/PlanToDestroyAmericaViaDollar.htm

Oil producers shun the dollar; Russia and Opec shift revenues into euros, yen and sterling
https://www.tldm.org/News9/OilProducersShunDollar.htm

U.S. Comptroller General warns the nation of economic calamity
https://www.tldm.org/news9/MonetaryCrashComptrollerGeneral.htm

Central banks caught in gold squeeze may crush dollar
https://www.tldm.org/News9/goldSqueezeMayCrushDollar.htm

Foreclosures:

Roach: ‘U.S. homes should fall 30 percent’
https://www.tldm.org/News11/RoachUSHomesShouldFall30Percent.htm

Foreclosure filings surge 68 percent
https://www.tldm.org/News11/ForeclosureFilingsSurge.htm

August 2007 report: 11 states have triple digit increases in foreclosures
https://www.tldm.org/News11/TripleDigitIncreasesInForeclosures.htm

New mortgage foreclosures set record
https://www.tldm.org/News11/MortgageForeclosuresSetRecord.htm

Shiller: U.S. housing woes could spur world slump
https://www.tldm.org/News11/HousingWoesCouldSpurWorldSlump.htm

Credit crunch hits the consumer — foreclosures double
https://www.tldm.org/News11/ForeclosuresDouble.htm

The worst isn't over in mortgage meltdown
https://www.tldm.org/News11/MortgageMeltdown.htm

Links...

Sub-prime lender says problems are on scale of Great Depression, [U.K.] Times Online, August 31, 2007
http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2358099.ece

Video: Money expert Jim Cramer of CNBC - "They're nuts, they know nothing! ... In the fixed income market, we have Armageddon"
http://www.youtube.com/watch?v=SWksEJQEYVU

Wall Street tremors, Asian markets' tsunami, Forbes.com, August 10, 2007
http://www.forbes.com/markets/2007/08/10/asian-markets-roundup-markets-equity-cx_vk_0810markets03.html

World markets rattled amid Dow Jones crash, ABC News Australia, August 10, 2007
http://abc.net.au/news/stories/2007/08/10/2001292.htm?section=business

Risky home loans run a fever, and the market prays it doesn't spread, U.S. News and World Report, July 15, 2007
http://www.usnews.com/usnews/biztech/articles/070715/23subprime.htm

U.S. dollar facing imminent collapse? WorldNetDaily, December 10, 2006
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53311

USA Today report: Real federal deficit 3.5 trillion, Newsmax, August 3, 2006
http://www.newsmax.com/archives/articles/2006/8/3/123820.shtml?s=lh

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Our Lady tells us to be protected from all evil, we must wear the following sacramentals around our necks: a Rosary, a crucifix, the St. Benedict medal, Our Lady of the Roses medal, the Miraculous Medal, and the scapular. We have all of these sacramentals in a packet we call "Heaven's Personal Protection Packet." This packet is available for a donation of $5.00 plus $3.00 shipping and handling. Send $8.00 to TLD Ministries, P.O. Box 40, Lowell, MI 49331. Item # P5 (Order Form)

    Our Lady of the Roses, Mary Help of Mothers promises to help protect our children. On September 13, 1977, She said, "He has an army of ogres wandering now throughout your country and all of the countries of the world. They are in possession of great power; so wear your sacramentals, and protect your children and your households. Learn the use every day of holy water throughout your household. Insist even with obstructions, insist that your children always wear a sacramental. One day they will understand that they will repel the demons."
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    This Heaven’s Personal Protection Packet is available for a donation of $5.00 plus $3.00 shipping and handling. Send $8.00 to TLD Ministries, P.O. Box 40, Lowell, MI 49331. You may use your MasterCard, VISA, or American Express and call 1-616-698-6448. Item # P5 (Order Form)

Your names have been written in Heaven… "It is not by accident that you are called by My Mother, for your names have been written in Heaven.... But with this great grace you have great responsibility to send this Message from Heaven throughout the world, for if you are able to recover just one more for Heaven, an additional star shall be placed in your crown." - Jesus, August 5, 1975

A great obligation to go forward... "It is not by accident that you are called by My Mother, for it is by merit and the prayers that have risen to Heaven for your salvation. For those who have received the grace to hear the Message from Heaven, you have a great obligation to go forward and bring this Message to your brothers and sisters. Do not expect a rest upon your earth, for you will have eternal rest very soon." - Jesus, June 12, 1976

The sin of omission... "The sin of omission shall condemn many to hell, be they layman or Hierarchy. I repeat: not the sin of commission, but the sin of omission will commit many to hell." Our Lady of the Roses, October 6, 1980

We encourage everyone to print or email copies of this web page to all the Bishops and all the clergy. Also, email or send this web page to the news media and as many people as possible.

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