By Greg Hunter
USAWatchdog.com   
Last week, at the G20 meeting in Toronto, there was much discussion about money printing for bailouts and cutbacks for austerity.  These were the two main options talked about to deal with the economic malaise facing the globe.   The U.S. is firmly in the money printing camp.  Europe, on the other hand, is officially taking the cutback and austerity path. 

By Greg Hunter (Updated)
USAWatchdog.com   
The much awaited financial reform bill was finished up in an overnight marathon House and Senate committee session last week.  Now it appears there is a holdup in the Senate because of the $19 billion bank tax contained in the legislation.  Several Senators on both sides of the isle want to remove the tax leaving a bill that must be paid for by taxpayers or not implemented at all.   This bill came about as a result of the near collapse of the financial system brought about by …

By Greg Hunter (updated)
USAWatchdog.com
 Respected banking analyst Meredith Whitney dropped a bomb on CNBC at the beginning of the week by saying, “Unequivocally, I see a double-dip in housing.  There’s no doubt about it . . . prices are going down again.” Whitney warned as foreclosures and short sales go north, bank profits head south.  She said, “You look at the non-performing loans on bank balance sheets and they have doubled in one year alone

By Greg Hunter
USAWatchdog.com
The possibility of a BP bankruptcy because of the ongoing Gulf oil spill is very real.  Since the oil spill disaster on April 20, the company’s share price has been cut in half.  BP has lost $90 billion in value for shareholders.  The company dividend has been diverted to help pay for stopping the out-of-control well, cleanup and damages.  At the beginning of this month, the President said, “Untold damage is being done to the environment — damage that could last for decades.” This broken well is spewing …

By Greg Hunter
USAWatchdog.com
Last week, three stories acted as signposts for the direction of the U.S. Dollar value.  The first is about a letter President Obama sent to members of the G20 (Group of 20 major industrial countries) in advance of next weekend’s meeting in Canada.  The President’s letter asked members to “reaffirm our unity of purpose to provide the policy support necessary to keep economic growth strong.” 

By Greg Hunter
USAWatchdog.com   
It’s not exactly the kind of audit Congressmen Ron Paul and Alan Grayson wanted in their original legislation, but it looks like their wish to peel away some of the Federal Reserve’s secret deals in lending and the securities market will be exposed for the first time in history.   The House and Senate are working to reconcile two similar bills and make them into one to put on the President’s desk.

By Greg Hunter
USAWatchdog.com
Last night, President Obama addressed the nation from the Oval Office in the White House on the Gulf oil disaster.  He got off to a great start by saying, “Already, this oil spill is the worst environmental disaster America has ever faced.

Greg Hunter
USAWatchdog.com 
It seems everyday I watch mainstream media there is a discussion about the ongoing so- called “recovery.”  Yesterday was no exception.  I was watching an anchor on MSNBC ask a guest why the “recovery” is so uneven and why it was hard to maintain upward momentum?  I yelled out to my TV, “Because there is no recovery!” 

By Greg Hunter
USAWatchdog.com  
Fed Chairman Ben Bernanke gave testimony to the U.S. House Budget Committee a couple of days ago.  His preposterous statements seemed to go unquestioned by the Committee.  So, I am going to tackle the highlights, ask a few questions and make several statements of my own that I think should have been made by our Congressmen.

By Greg Hunter
USAWatchdog.com   
Gold hit another all-time high yesterday!  According to gold website Kitco.com, “. . . investors continue to seek out the precious yellow metal as a safe-haven asset amid heightened financial, economic and geopolitical uncertainty. One market watcher in a wire service report summed up nicely gold’s recent price action, saying “it’s a warm blanket on a cold day.” August Comex gold closed up $4.80 an ounce at $1,245.60 after hitting a new high of $1,254.50 in early trading.”