The Supreme Council for the Armed Forces has taken power from the Egyptian President. The Pharaoh has been toppled.

From Al Jazeera, who played such an essential role in this story. Watch it live, it’s really chilling. The lump in my throat is keeping back the tears. What an incredible moment for the Egyptian people, but also for Arabs and Muslims in the Middle East.

The world is rocked. Nothing will ever be the same again and that’s a very good thing.

Hosni Mubarak, the Egyptian president, has resigned from his post, handing over power to the armed forces.

Omar Suleiman, the vice-president, announced in a televised address that the president was “waiving” his office, and had handed over authority to the Supreme Council of the armed forces.

Suleiman’s short statement was received with a roar of approval and by celebratory chanting and flag-waving from a crowd of hundreds of thousands in Cairo’s Tahrir Square, as well by pro-democracy campaigners who attended protests across the country on Friday.

The crowd in Tahrir chanted “We have brought down the regime”, while many were seen crying, cheering and embracing one another.

Mohamed ElBaradei, an opposition leader, hailed the moment as being the “greatest day of my life”, in comments to the Associated Press news agency.

“The country has been liberated after decades of repression,” he said.

It’s a great day for Egypt, which has been the leader in the Arab world and now is the first to claim a new day has come. Much work lies ahead, but if the Egyptian people can topple the pharaoh they can do anything.

And to paraphrase Shibley Telhami from last night on Rachel Maddow’s show. Bin Laden’s worst nightmare just came true: A PEACEFUL REVOLUTION IN EGYPT.