localhost root # emerge sync


Performing Global Updates: /usr/portage/profiles/updates/1Q-2005
(Could take a couple of minutes if you have a lot of binary packages.)
  .='update pass'  *='binary update'  @='/var/db move'
  s='/var/db SLOT move' S='binary SLOT move' p='update /etc/portage/package.*'
..............................................................................................................................................................................................................................................................Traceback (most recent call last):
  File "/usr/bin/emerge", line 10, in ?
    import portage
  File "/usr/lib/portage/pym/portage.py", line 7140, in ?
    do_upgrade(mykey)
  File "/usr/lib/portage/pym/portage.py", line 7077, in do_upgrade
    myworld=open("/"+WORLD_FILE,"w")
IOError: [Errno 2] No such file or directory: '//var/lib/portage/world'