By Greg Hunter
A Congressional Hearing was held Friday on H.R. 1207 also known as “Audit the Fed.”  As far as I can tell, there was very little in the mainstream media on this Ron Paul sponsored bill.  290 Congressmen of both parties are behind the bill.  The importance of an audit is profound as the Fed controls the value of money for anyone holding or using dollars.  The Federal Reserve has spent or committed trillions of dollars in the financial meltdown with virtually no accountability.  For example, the Fed took …

By Greg Hunter
The test-firing of a new medium-range surface to surface missile, named Sejil-2, in Semnan in north-eastern Iran on 20 May 2009.
Take a look at today’s headline from Reuters, “Obama Accuses Iran of Building Secret Nuclear Plant.”  This just one day after the Israeli Prime Minister said the U.N.’s most urgent challenge “is to prevent the tyrants of Tehran  from acquiring nuclear weapons.” This is just part of the scolding Benjamin Netanyahu delivered to the General Assembly. The President of the United States was flanked by the …

By Greg Hunter
If you look around the world for the countries with the most geopolitical risk, what comes to mind?  Plenty of people would say places such as North Korea, Iraq and Afghanistan.  There is no question these nations are trouble spots for the U.S. and the world, but they pale in comparison to the one eyed jack and the joker of  wild card countries.  The two hot spots that could destroy the fragile world economy, if they destabilize, are the Taliban/Pakistan conflict and the Iran/Israel powder keg over alleged …

By Greg Hunter
The latest plan at the FDIC to replenish its drained insurance fund is to borrow from the people they are supposed to bailout, the banks!  What!?   This smacks of desperation at the FDIC.  You have been hearing since the financial meltdown began that the banks are in trouble and most are severely undercapitalized.   The plan regulators are considering is to have the nation’s healthy banks lend billions of dollars to rescue the FDIC insurance fund that protects bank depositors.
I have some questions about this plan to borrow money …

By Greg Hunter
  FDIC Chairman Sheila Bair
The 94th bank of the year was taken over by regulators on Friday.  Irwin Financial Corporation in Kentucky and Indiana cost the FDIC, or you the taxpayer, 850 million dollars.  That is  a lot of money for just one Midwest bank, considering the insurance fund had just 10.4 billion dollars.  Maybe that’s why FDIC Chairman Sheila Bair said, on the same day as the bank failure, she was considering borrowing from a 500 billion dollar line of credit at the Treasury.   Bair said at a global finance summit in …

By Greg Hunter
HR 1207 is a bill,  first sponsored by Congressman Ron Paul  in the U.S. House of Representatives, that will audit the Federal Reserve.  The Federal Reseve has never been audited in it’s 96 year history. Contrary to popular belief,  the Fed is not an arm of the U.S. Government but a subcontractor for monetary policy.  It is the Fed that also produces the money in your pocket, thus the term Federal Reserve Note.  The Bill, as of September 16, has 289 co-sponsors in Congress.  If the Bill is signed into law,  …

“a big, big tax”

By Greg Hunter
Every time I see a speech on the economy, such as President Obama’s on Monday, I rarely see someone cut to the heart of the problem.  There is too much debt!  That is the simple answer to what is wrong with the economy.   The President really did not address that issue.  He basically just scolded Wall Street for needing a bailout.   We have spent or committed 13 trillion dollars and we are nowhere near out of the woods. 
Here are a few examples of  the debt problems American is facing that I have talked about in a …

Greg’s Take:
I want to highlight this AP article below because it is why I started USAWatchdog.com.  I do not think people are getting the whole story, especially when it comes to the economy.  Things are much worse than what is being reported, and it is going to get a whole lot worse before it gets better.    I know that is not what you are hearing in the mainstream media.   Maybe the press, as a whole, is just not brave enough to put out the real story.  Some journalists are doing good reporting, but often their …

By Greg Hunter
This cartoon would be even funnier if were not partially true.  These days the average American owes $8,000 dollars on his credit cards.  I was asked by a friend of mine, “How should I hedge my investments in this environment?”   What  he really should ask is, “ How do I prepare for an economic storm?”  I am not a money manager, so I cannot tell you how to make tons of money.  I can tell you how to rig for trouble.
First of all, the best hedge you can have …