By Greg Hunter’s USAWatchdog.com 
The $2 billion loss of JP Morgan in derivatives trading is signaling, once again, the enormous risks big banks take with taxpayer backing.  All U.S. banks are covered by the FDIC, and if a loss is big enough, it could threaten the financial system just as it did in 2008.  JP Morgan has $70 trillion in total derivative exposure.  The entire world has a little more than $700 trillion in derivative exposure, and one bank has 10% of all the derivative exposure on the planet!  If JP …

Greg Hunter’s USAWatchdog.com 
If you listen to the mainstream media, you would think that we are in a recovery and the future of the U.S. dollar’s reign as world reserve currency is not in jeopardy.  But a look on alternative news sites tells a different story.  The dollar is quietly under attack, and the latest assault comes from Brazil, Russia, India, China and South Africa (aka BRICS) who want to start a joint bank.  The dollar (as a reserve currency) does not really benefit the BRICS, but it is a necessary …

By Greg Hunter’s USAWatchdog.com 
Countries around the world have been actively seeking ways to not do business in dollars for the past few years.  The U.S. dollar is the so-called world reserve currency, but the big question is for how long?  China and Japan are beginning to shun the dollar in trade between the two countries.  Mind you, this is the 2nd biggest economy in the world doing business without dollars with the 3rd biggest economy in the world.  Russia and China, also, have an agreement to not use the dollar, …

By Greg Hunter’s USAWatchdog.com 
It is official.  State and federal governments have condoned forgery, perjury and fraud in what’s been called the “robo-signing” foreclosure debacle.  Last week, the five biggest banks in America signed on to a $26 billion deal that, basically, lets them off with a slap on the wrist for fraudulently foreclosing on homes in the last few years. 

By Greg Hunter’s USAWatchdog.com 
The Federal Reserve announced, this week, that it was keeping interest rates at near zero percent until at least 2014.  It sure doesn’t look like the so-called “recovery” is going very well.  The Fed also said it may “stimulate” the economy soon.  Print baby print—you wonder why gold has been rising in price? 

By Greg Hunter’s USAWatchdog.com 
The European Union is frantically trying to come up with a plan to fix the debt crisis that is threatening to cause a worldwide financial calamity.  It seems every day there’s a new idea to save the union.  The latest is some sort of backdoor bailout through the International Monetary Fund (IMF).  Why doesn’t the European Central Bank (ECB) just take care of the bailout by itself? 

By Greg Hunter’s USAWatchdog.com
If you listen to the narrative coming from the right, you would think the Occupy Wall Street (OWS) protesters were social deviants.  Sean Hannity said on his show last week, “What have we seen here, violence, rape, arson, destruction of property, sex in public, masturbation in public, naked people, drugs, drug paraphernalia, anti-Americanism, anti-Semitism, anti-capitalism.” 

By Greg Hunter’s USAWatchdog.com
Something a little different today.  I have three videos for you to watch.  The first features a guy named Eddie Hobbs.  He is a financial planner and expert from Ireland.  In recent weeks, some of my stories have indicated there could be bank runs in the EU.  Last week, Mr. Hobbs confirmed the wealthy are indeed taking money out of EU countries with sour sovereign debt. 

I have to applaud the “Occupy Wall Street” movement even if their message is a little disjointed.  I think the message will sharpen in time.  I hope the main focus continues to be the ongoing market manipulation and crime that has gone unpunished.  I know folks on both sides of the spectrum are criticizing these folks.    I am not surprised because, after all, both parties have been bought off by the Wall Street bankers.  (I am behind anyone who is exercising their First Amendment rights.)  

By Greg Hunter’s USAWatchdog.com  
I keep hearing the so-called experts say how much better shape the banks are in now than in the last financial meltdown of 2008.  To that, I say horse hooey!  Any expert worth his salt knows that nothing has been fixed in the financial system.  The problems were papered over with fiat currency and the proverbial can kicked down the road—ting ting ting.