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Gold and Dow Flash the Same Warning Signal

By Greg hunter’s 

On Friday, both gold and the Dow flashed the same warning signal—the economy is in deep trouble.  The Dow plunged nearly 275 points on the news of a weak jobs report, and gold rocketed higher by $66 on speculation global bankers are going to print money to resuscitate a dying financial system.  You do not get this kind of tandem move in opposite directions by coincident.  Last week, both the stock and gold markets appeared to stop pretending and acknowledged the vortex of debt and insolvency that could suck us all into a black hole.


Weekly News Wrap-Up 6.1.12

By Greg Hunter’s 

Greece is on life support.   Spain is experiencing bank runs.  Many countries are in or heading into recession.  The European Union is in gridlock over what to do.  The bankers want money printing for bailouts and want the people to pay for it.  The leadership in the EU is, also, pushing for Euro-bonds that will spread the debt out to all the countries.  (more…)

Will Fed Printing Press Try to Save Europe?

Bank Insolvency: Will Fed Printing Press Try to Save Europe?By Greg Hunter’s 

You know things are heating up when the banks start with scare tactics.  In Greece, the bankers are in full court press to sway voters for next month’s election.  Reuters reported yesterday, “In a report released ahead of an election on June 17 that may determine whether the country stays in the single currency, the country’s biggest bank said the risk of Athens exiting the euro was no longer just a theoretical possibility, warning that the fallout from such a move would be dramatic.  (more…)

Iran–EU Debt Crisis Update

By Greg Hunter’s

The meeting, last week, in Iraq to negotiate a resolution to Iran’s nuclear program ended with zero concessions on either side.  The only thing positive was an agreement for another meeting, next month, in Russia.  This meeting is more than a discussion over Iran’s nuclear ambitions but more about the world powers trying to avoid all out global war.  (more…)

Weekly News Wrap-Up 5.25.12

By Greg Hunter’s 

The big meeting, this week, in Iraq concerning Iran’s nuclear program was a big bust.  The meeting, once again, ended the same way the last one did—with a date for another meeting.  The next one is in Russia, next month, and will involve all the same world powers (U.S. UK, France, Germany, Russia, China and Iran).

The West wants Iran to stop enriching uranium to high levels for fear of turning it into a nuclear weapon.  (more…)

Taxpayer Supported Gambling

Derivative Scandals: Taxpayer Supported GamblingBy Greg Hunter’s 

The $2 billion derivative trading loss JP Morgan announced, about two weeks ago, is growing in size.  It is reportedly now more than triple the original loss.  According to a CNN report, “One thing seems clear about JPMorgan Chase’s $2 billion loss. It’s no longer $2 billion. It’s likely much higher.  (more…)

Inflation–Deflation: Gold and Silver Win

By Greg Hunter’s

There is plenty of talk about inflation and deflation scenarios. Gold and silver do well in the extremes. I think it is safe to say the financial environment today is extreme. Look at the thud the Facebook IPO made since it was issued.  Look at the price suppression of gold and silver through naked shorts that the government regulators turn a blind eye to. Look at the interest rate suppression the Federal Reserve is masterminding with 30-year mortgage rates in record territory well below 4%.  (more…)

Iraq Meeting Will Decide War

Greg Hunter’s 

The meeting, this week, in Iraq to negotiate Iran’s nuclear program will decide whether or not the world will go to war.  The meeting is between the East (Iran, China and Russia) and the West (U.S., UK, France and Germany).   If the meeting goes well, war will be avoided.  If the meeting goes badly, the world will be heading for war.  (more…)

Weekly News Wrap-Up 5.18.12

By Greg Hunter’s 

The big news is what is coming up over the next four days.  There are two sets of meetings:  one in Camp David with the G8 and one in Chicago with NATO.  Forget the protests in Chicago; that is just noise and distraction.  There are three big problems that will be talked about at these meetings.  Syria is in the middle of a revolution, and Russia has warned the West to stay out.  Nothing is settled there, and the cease fire was short lived.    (more…)

Systemic Risk Is Everywhere

JP Morgan Derivatives Exposure: Systemic Risk Is EverywhereBy Greg Hunter’s 

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 Morgan gets into trouble, it alone could cause systemic failure.  Today, the FBI announced an investigation into the surprise $2 billion (more…)

JP Morgan Tip of Iceberg

By Greg Hunter’s 

William K. Black is one of my heroes.  He is a former bank regulator, professor and an outspoken critic of the part of Wall Street that crashed the financial system in 2008.  His big beef is there were zero prosecutions of financial elites.  A thousand big wigs were convicted (including a sitting governor) in the wake of the Savings and Loan crisis in the early 1990’s.  (more…)

JP Morgan Black Swan?

By Greg Hunter’s

The surprise announcement by JP Morgan that it lost $2 billion in trading derivatives was portrayed in some mainstream media outlets as no big deal.  The Associated Press reported Friday, “Bank stocks were hammered in Britain and the United States on Friday, partly because of fear that a surprise $2 billion trading loss by JPMorgan Chase would lead to tougher regulation of financial institutions. . . . (more…)

Weekly News Wrap-Up 5.11.12

By Greg Hunter’s

If you think gay marriage or Mitt Romney’s alleged forced haircuts when in prep school are the big stories you need to worry about, then you are watching too much of the mainstream media!  There are much bigger stories folks should be paying attention to.  (more…)

The Last Innings of a Very Bad Ball Game

By Greg Hunter’s

There is no way to characterize what is happening in the EU as positive.  The Euro-zone is a gigantic mess, and it is on the verge of falling apart.  There is no way the destruction of the European common currency (euro) will not cause huge problems here in the U.S.  If you watch the financial news channels, you would think that problems for the Western fiat monetary system is a long way off.  (more…)

Charlie Munger is Out of Touch

By Greg Hunter’s

You haven’t heard much from Charlie Munger (Warren Buffett’s right hand man) since he said this, a few years ago, about the massive bailouts the financial system received from taxpayers and the Federal Reserve: “So I think when you have troubles like that you shouldn’t be bitching about a little bailout. You should have been thinking it should have been bigger.”  And for those not doing so well in the downturn, the 86-year old Munger says “suck it in and cope.”  (more…)