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Weekly News Wrap-Up 12.16.11

Greg Hunter’s USAWatchdog.com 

Congress held multiple hearings this week on what happened in the bankruptcy of MF Global. At least $1.2 billion in customer funds are missing, and none of the top executives, including Jon Corzine, knows anything.  Some are finding it hard to believe that Corzine, a former CEO of Goldman Sachs, a former Governor and Senator could be that much in the dark about what happened.

The IMF chief, Christine Lagarde, said the crisis in Europe is not only “unfolding but escalating.”  Iranians now say they brought down that American spy drone (SQ 170 Sentinel) by hacking into the electronics of the aircraft. The U.S. denies it’s even the real thing.  (more…)

The Last Bill of Rights Day

By Greg Hunter’s USAWatchdog.com

Earlier today, I wrote a hopeful article about how the language in the “Indefinite Detention” bill (otherwise know as National Defense Authorization Act or NDAA) might be changed to not gut the Bill of Rights. I was way too optimistic.  It appears to be over, and the reconciled bill is on its way to President Obama’s desk to sign into law.  It also appears there is zero chance he will veto the bill.  I think this effectively means America has had its last Bill of Rights Day.  (more…)

Hope Indefinite Detention Bill Will Be Changed to Protect Americans

By Greg Hunter’s USAWatchdog.com 

Not everyone in Congress thinks it is a good idea to pass a law that will allow indefinite detention of U.S. citizens.  Senator Mike Lee and Representative Justin Amash think the Senate version of the National Defense Authorization Act (NDAA) needs major changes to preserve constitutional rights of all Americans.  Both the House of Representatives and the Senate have passed versions of this bill.  The bill the Senate passed recently (S 1867) is where all the controversy comes from.  (more…)

Is the Gold Bull Really Dead?

Price of Gold: Is the Gold Bull Really Dead?By Greg Hunter’s USAWatchdog.com

Economist Dennis Gartman announced in his newsletter, yesterday, that he has sold all of his gold.  I don’t know if it was physical or paper gold in an ETF (exchange traded fund), but it is gone.  According to Bloomberg, Gartman said, “Since the early autumn here in the Northern Hemisphere gold has failed to make a new high. . . . (more…)

Three Stooges Testify about Missing Money at MF Global

From the movie "Three Dumb Clucks"

Greg Hunter’s USAWatchdog.com 

I watched in amazement today at the Senate Hearing on the collapse of MF Global about 6 weeks ago.  The three top executives testified about what they knew and when they knew it.  CEO Jon Corzine, COO Bradley Abelow and CFO Henri Steenkamp all sat there and, essentially, said none of them knew where $1.2 billion of segregated customer money went.  It might as well have been Moe, Larry and Curly testifying.   (more…)

Signs of Disintegration

US and European Economic Crisis: Signs of Disintegration!By Greg Hunter’s USAWatchdog.com 

“Disintegration.”  That’s the word both billionaire George Soros and French President Nicolas Sarkozy have recently used to describe what’s going on with the European economic crisis.  It is really a solvency crisis for the big banks there, and leaders are trying desperately to fix the problem.  Last week, 26 European countries agreed to give up sovereignty and vote for new rules on tax and spending and tough sanctions to enforce them.  (more…)

Weekly News Wrap-Up 12.9.11

By Greg Hunter’s USAWatchdog.com 

There was a big meeting in Europe this week to try and find a solution to the sovereign debt crisis.  The fate of the European Union hangs in the balance.  French President Nicolas Sarkozy said, “Never has the risk of disintegration been greater.”  He was also quoted saying there could be an “explosion” if a solution is not found in the next few weeks.  Former MF Global chief testified in front of Congress and says he has no idea where up to $3 billion of segregated client money is after more than a month after the brokerage declared bankruptcy.  (more…)

Does the Indefinite Detention Bill Foretell Future?

National Defense Authorization Act - Indefinite Detention Bill Senate Bill 1867By Greg Hunter’s USAWatchdog.com 

The recent passage of the National Defense Authorization Act (Senate Bill 1867), otherwise known as the “Indefinite Detention Bill,” should scare the heck out of anyone who loves the U.S. Constitution and the Bill of Rights.  This bill effectively hands over control to the military to arrest, torture and even kill terrorists on American soil.  (more…)

MSM Waking up to Zero Wall Street Prosecutions

This weekend 60 Minutes finally did a story about the fact that zero high ranking prosecutions have taken place in the wake of the financial meltdown.  I guess as far as CBS is concerned it is better late than never.  My only question is what in the hell took CBS so long to wake up to this outrageous travesty of justice?  Enormous crimes were committed by the highest ranking members of Wall Street.  This was racketeering on many levels.  (more…)

Is the World Spinning Out of Control?

Europe Bailout NewsGreg Hunter’s USAWatchdog.com 

More Europe bailout news. Last week, the world was elated with news that the Federal Reserve and five other central banks got together to prop up Eurozone banks drowning on sour sovereign debt, but the crisis is far from over.  The latest scheme is for countries to trade sovereignty over their budgets in return for more bailout money.  (more…)

Weekly News Wrap-Up 12.2.11

By Greg Hunter’s USAWatchdog.com 

It’s official.  America is now committed to bailing out Europe—again.  The Federal Reserve announced, this week, it would use something called  dollar “swaps” to give EU banks cheap easy money to keep their banks from imploding under the weight of sour sovereign debt.  Some big U.S. banks are also exposed and could end up in bankruptcy, if the EU collapses.  (more…)

Holding the EU together by Money Printing and Force

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?  (more…)

Economy is So Good People are Living in Cars

By Greg Hunter’s USAWatchdog.com

I have never seen, in all my time, so many people holding signs on street corners asking for money, food and work.  My wife spotted a couple in their forties living in their car in the middle of a crowded WalMart parking lot.  I am seeing more of that, too.  I was watching CNBC Monday, and one analyst basically said the economy was good and getting better.  He pointed to the great sales numbers on Black Friday.  (more…)

No Laws Were Broken

Wall Street Fraud & EU IMF Bailout But No Laws Were BrokenBy Greg Hunter’s USAWAtchdog.com 

It looks like the EU is getting a bailout from the IMF that could be nearly $800 billion.  Gold is going straight up, and I am sure global stock markets will also surge on the bailout news.  This will not really fix what is wrong.  It will also not put an end to the chronic crisis mode Europe and the U.S. have been in for the past 3 years.  I mean, if all the global bailouts didn’t fix the problem, including $16 trillion pumped out by the Fed after the 2008 meltdown, what’s another $800 billion going to do?  (more…)

Weekly News Wrap-Up 11.25.11

By Greg Hunter’s USAWatchdog.com

Happy Black Friday!  I hope you all had a great Thanksgiving! The Occupy Wall Street protesters are trying to derail the busiest shopping day of the year by telling people not to shop.  I do not understand why they would try to hurt struggling retailers.  I think this is well within their rights under the first Amendment but a public relations disaster. Meanwhile, the Tea Party is telling folks to “buycott” and go out and shop to help the economy. (more…)