The Weekly News Wrap-Up 7/8/11

By Greg Hunter’s USAWatchdog.com  (Updated and revised)

It is amazing that so few people know or want to know about the debt ceiling negotiations going on in Washington D.C. this weekend.  It has been reported the raise is in the neighborhood of $2.4 trillion.  That’s 2,400 billion bucks, and please remember a billion is 1,000 million.  On the other hand, the public is being bombarded with every tiny detail about the Casey Anthony case by the mainstream media.  The President said yesterday that Democratic and Republican leaders will work the weekend to hammer out some sort of compromise.  In simple terms, the impasse comes because the Republicans do not want tax increases in a down economy, and Democrats do not want entitlements and government programs cut in a down economy.   We will see if they can cut up to $4 trillion out of the budget over the next 10 years or so.  Congress could not even cut $60 billion out of the budget a few months back.  According to the Washington Post, the $38 billion that was cut, in actuality, was only a mere $350 million.  Fat chance on cutting up to $4 trillion, which by the way is $4,000 billion.  The big take-away here is that for the first time in modern history, we are openly talking about the possibility of the U.S. government defaulting on its debt.  The date certain is August 2, 2011.  If there is no deal by then, all hell will break loose.  I think they will get a deal so the economy doesn’t  implode, but the last time the two parties had a stand-off like this, they didn’t cut a deal until one hour before a forced government shutdown.  For common folk like me and you, the only thing you can count on is higher inflation.  By the way, there has been talk about the President using the 14th Amendment to by-pass Congress and order Treasury Secretary Tim Geithner to pay the lawful bills of the U.S.  This is a Constitutional can of nasty worms, and there is not a chance the President will try this–no way.  They reach a deal or they don’t.  It is that simple.

In the Greek debt arena, it looks like troubles for Greece and the world are far from over.  Now, one of the ratings agencies says the deal that was cut for austerity (higher taxes and less government entitlements and programs) may not work.  This could be considered a “selective default.”  It could also affect future deals with Portugal, Spain and Italy which also have big sovereign debt problems. On top of that, German high courts are wrestling with the fact the Lisbon Treaty (which is the basis for forming the European Union) has a “no bailout” clause.  Which means it is illegal to take money from one country, say Germany, and give it to another country, say Greece.  The fate of the EU may be in the hands of the German courts.  The German finance minister, once again, warned this week if a deal is not reached on how to deal with the sovereign debt crisis, then a daisy chain of defaults could spread across Europe.  The U.S. could be severely affected if this goes sour, so continue to keep an eye on this important story.

Yesterday, there was some good news on the employment front.  ADP, the payroll people, said 157,000 real jobs were created.  88,000 came from small business.  Also, some of the automakers are hiring a few thousand people.  The mainstream media hailed this as a turnaround in the economy.  It is not, and today’s unemployment numbers prove my point.  The official unemployment rate bumped up to 9.2% from 9.1%.  We lost more jobs than we created.  Also, Challenger, Gray and Christmas (employment specialists) said this week that planned layoffs are up more than 5% from the same time last year.  In June, planned layoffs are stated at 41,000.  This story has gotten little attention.  Things are going to get worse for employment and the economy, and I’ll be doing a post on the real unemployment numbers on Monday’s post (as long as something does not blow up over the weekend.)

Here’s some real good news.  Senators Rand Paul and Jim DeMint are sponsoring a bill called the “Sound Money Protection Act.”  It basically will do away with federal capital gains taxes on gold and silver coins.  The idea here is to get people to use the coins as money.  The value will be based on the actual bullion weight, not the silly amount stamped on the coin.  For example, a Gold Eagle one ounce coin is stamped with $50 on it, and gold is way over $1,500 per ounce at this writing.  The complete story is on the USAWatchdog.com site under “Hunter’s Top Stories.”

I had a story in the video presentation about HSBC and JP Morgan Banks being hit with federal RICO lawsuits over the alleged manipulation of gold and silver.  I could not independently confirm the new charges, so I took the story and video down.  There have been allegations of manipulation in the past with these two banks but, once again, I could not confirm the new charges.  On the other hand, there are new charges of “fraud” coming out of the UK over the Exchange Traded Funds (ETF) market.  That story is on the USAWatchdog.com site as well.

There is also a deal with the U.S. and Mexico over trucking.  The deal has been stalled for 15 years.  There have been questions of safety with Mexican trucks, and that has been reportedly worked out.  The reason the U.S. is motivated to allow Mexican trucks into the U.S. is the loss of $2 billion in trade because of Mexican tariffs.  So the farmers and other folks are happy, but the trucking industry is mad as heck.  I am sure it will fight this deal.  This is only a pilot program, so don’t expect to see thousands of Mexican trucks on our roads anytime soon.  I feel there is a sovereignty issue here, and there will  be much opposition from many different groups, not just the trucking industry.

Finally, the Casey Anthony story.  I am embarrassed to know what I know about this story, and I have been trying not to pay any attention to it.   I have said this before,  I don’t know if the jury got it right, but I do know the mainstream media (MSM) spent lots of money and lots of time covering this travesty.  It will not matter to 99.999% of Americans.  However, people know very little about the $2.4 trillion raise in the debt ceiling, and either way this goes, it will affect 99.999% of Americans.  I blame the MSM for this, and it is why the mainstream media is on a downward trajectory to irrelevance.  That’s the way I see it this week.  Thank you for supporting USAWatchdog.com.

Comments
  1. Sam

    Dear Greg,

    Gaffe here.

    You said a gold eagle is “stamped” at $50. No, a gold eagle has a nominal value of $20. A gold BUFFALO has a nominal value of $50.

    • Greg

      Sam,
      I was talking about the bullion Gold Eagle coin not the $20 gold piece from 1933 and before. The bullion coins that the U.S. began minting in1986 are stamped on the back “50 Dollars.” Check it out on Kitco.com:https://online.kitco.com/bullion/completelist_USD.html Thank you for having my back. I appreciate it man!!
      Greg

      • Sam

        Dear Greg,

        I beg to differ.

        I have the pre-1933 coins in my collection, as well as the modern coins. The gold double eagle (1986 and after) is $20. The BULLION coin (.9999) is the Buffalo, it’s at $50.

        Interestingly, on the eBay Gold Index, the bullion Buffalo has a lower selling price than the Eagle, which has less gold and more alloy. Go figure.

        • Greg

          Sam,
          This is not a matter of debate. The 1986 and newer Gold Eagle bullion coin is stamped “50 Dollars.” A collecable version of the Gold “Double Eagle” was minted in 2008 as a 2009 coin http://mintnewsblog.blogspot.com/2008/12/2009-ultra-high-relief-double-eagle.html This is not what I am talking about. I was talking about the Gold Eagle and it is the most common U.S. gold bullion coin since 1986.
          Greg

        • Davis

          The Gold Eagle and the gold Buffalo both contain 1 troy oz of gold. The difference being that the Eagle is alloyed with a small amount of copper to increase its hardness and resistance to wear. So actually the Eagle weighs slightly more than a Buffalo.

  2. Jacques du Jour

    How much national treasure has the government swindled in the last 10 years chasing a couple thousand guys in manjammies and sandals around the desert? Even adjusted for inflation, it’s astronomically more than we spent in WWII against opponents of significant numerical force and massive, technologically advanced militaries.

    A lot of people at the trough on that multi-trillion-dollar government-managed scheme. A lot of campaign-donating, lobbying, contracting former government type people with very comfortable lifestyles to maintain……ahem.

    On the bright side, after the revolution, we get to see them all tried and publicly executed.

    • BLT

      Saved me from having to make a comment!! Oh wait, WAY TO GO GREGUMS!!

      • Greg

        Thank you BLT!!!
        Greg

    • Art Barnes

      Yea, take note of them and also the newly formed investor class who are buying the people’s homes out from under them and putting them on the street with their co-conspirators the banks & bankers.

  3. John Bernard

    Greg
    This was a good presentation except you jumped the gun on employment. That went up another 10th of a percent. 18.000 jobs were created not 150.000. Nevertheless you are on top of most things. Thanks for that.

    John Bernard

    • Greg

      John,
      You are correct and that is part of the reason why I updated and revised this post. Thank you for your support.
      Greg

  4. Art Barnes

    Good video, especially about the state of the economy, the scheduled and realized corporate plant layoffs, etc. However, the debt ceiling is a non-story because its going to be raised and, frankly, every one knows it, its simply postering by the parties and the president. What the real story is in reality is about the repercussions of such debt raise: DEVALUATION OF THE DOLLAR VIA THE RESULTING INFLATION (or vice verse). That Greg is the real story and I’m glad you went into it and realize the implications after it is raised.

    The Rand Paul gold story has deep implications should it come to fuition. Should some people start purchasing and or trading in gold again the possible unintended consequence is that paper money could become less and less relevant, making paper money even less valuable and sought after, or, at least perceived as being of lesser value than gold. This could result in a lack of confidence of paper money resulting in gold climbing in perceived value and being sought after and traded as not being unique but standard for, and possibly perferred, for many transactions. This back page story may have far reaching implications for the future of the dollar. The saying is that a forest fire starts with one little match. Watch this story!

    • Greg

      Thank you Art, Dan and Craig for the comments and kind words!!!
      Greg

  5. Dan Baker

    Love you web site and just want to say thanks for what you do! You are a asset to this country. I also listen to you on coast to coast.
    Anyways, again just wanted to say thanks.
    Dan Baker

  6. Craig Ardolino

    Thanks for the post. More people should pay attention to the things that really matter. I for one did not watch anything related to the Casey Anthony case. All I know is she was found not guilty and now people are mad. I wish they would turn their anger to things that can make a difference to all of us.

    But then again, media sensations always revolve around important Federal Laws and/or bills to create a diversion to keep people’s attention elsewhere. “Go fetch the ball Rover so I can steal your food. That’s a good doggy.”

  7. Jerry A.

    It is impossible to understand why the people in this country are not outraged by the national debt. Our so called leaders are piling it up on us all, thinking incoming tax revenues will pay for it! The people still do not pay attention to every trillion dollar increase as if it is no big problem. The people seem to think that their government will always do what is best for us all. I am so mad and disgusted by our governments irresponsible behavior. I love this country but I will prepare to get off the sinking ship before it goes down. I for one have made some hard choices for my family by starting a business and purchasing a home out of the country as a just in case America sinks insurance plan. I am tired of trying to tell people all they have to do is take a real look at what is going on, and tell others. In my always optimistic way I thought common sense would just go viral. I have had little success. The people pay little or no attention to my words. Well, we must stop the big government, corporate, and monetary policy madness of endless war and the endless money printing caused by keynesian fractional reserve banking and lending lunacy. Thanks Greg, you are an American patriot. We need honest mainstream news reporting like we get from you.

    • Greg

      Thank you Jerry for your comment and support!!!
      Greg

    • Art Barnes

      Jerry, I have notice the same thing, no one even believes anything is really wrong, maybe some just enough wrong to bitch a little about it, but not enough wrong to actually take to it the streets, which is what it will take and in great numbers to boot. Americans have simply be indoctrinated to believing nothing can go really wrong with the great empire; so were the Romans.

  8. M SMITH

    Another great week of real reporting what’s really important to the well being of Americans. I feel as you, the MSM only reports 99.999% of what’s not real news.

    I wonder if there is a way for any American who holds physical gold & silver coins/bullion as a investment to get in on a Class Action RICO or some other sort of suite against not only JPM,HSBC but the others that don’t make the news but are neck deep into it also? Just a thought to wake up the sheep & congress!

    Boy here comes a bomb shell, they want to mess around with the CPI numbers so the folks on SS & military retirees get less in the Cost of Living Increases! Chained CPI numbers, what will they dream up next out of desperation? They are afraid of being sent home like a bad school kid.

    HSBC dumping physical for stocks in the miners? Martin Armstrong wrote about this “the forced panic trade”, I would have to read it again, but it seems you have to know what your doing or you would lose your butt because it’s a decoy or something like that, but I not in their league but John Paulson is & has a lot to lose, watch out John Paulson, HSBC & friends may be gunning for you!

    Jobs no where to be found, Obama said congress had to raise the debt ceiling before businesses would fill confy to hire, oh yea & even the temp agencies cut a huge amount of workers.

    Oh, the free trade deal with S. Korea where the US. would spend billions to re-train workers to work at the Panama Canal, really why can’t private corporations pay to re-train if it needs people to run the Canal.

    India increases imports of the amount of silver & gold bullion to feed demand increases. Americans for the most part either can’t afford to buy gold coins or just don’t know better. Silver ASE’s sales soar as San Fransisco mint ramps up to meet demand in USA. Turkey sales of Gold 1 oz coins to Turks & Arab nations beats sales of all U.S. AGE’s 1 oz sales in 2011.

    Obama wants to push a back door amnesty to get the Hispanic vote. Why come or stay, no jobs here my friend.

    Gas prices have gone up 19 cents here since Obama opened the SPR & food prices still rising as floods hit the heartland of USA, fires are still popping up in the hard hit drought of south west. My doctor just sent me a letter letting his patients know office visits were going up effective 1 Aug & any co-pays you must have just to get your refills renewed.
    Think I will go fishing, it has cooled down a bit & it would be nice to catch some fresh crappy & cat fish to go with the home grown veg’s from the garden. Thank again Greg,hope you have a great week end also.

    • Greg

      M Smith,
      Thank you for adding to the content of this post!
      Greg

  9. BLT

    Keep up the good work Greg. Your audience continues to get brighter and wittier by the day!!….not to mention funnier. That must be the coast to coast crowd. GO USA WATCHDOG!!

  10. iknowbetter

    Greg, you’re doing yeoman’s work that others won’t do.

    However, I’m puzzled. While you were once a reporter/newsman/journalist, how would you describe your current incarnation?

    While I accept and agree with most of your articles, I also note that your opinions, slants, and critiques are a large part of your online publishing. Therefore, you are something other than a reporter/newsman/journalist.

    I read your blog/news. Is it blews? Are you a blewser? What the heck are you now? Hybrid?

    I think you are an iconoclast, if that’s an acceptable characterization. Perhaps you have another appellation in mind?

    That may be a rhetorical question. And if you don’t reveal something meaningful, I’ll look like a …(signal lost)

    (signal regained) I like your Friday News Wrap-Ups. I’m fine with bias and slant. But I think it must be called something other than true journalism… a rare thing to find nowadays. Matt Taibbi comes to mind.

    Confused? Review paragraph two above.

    … ikb sometimes

    • Greg

      IKB,
      My slogan under the header says “Analyzing the news to give you a clear picture of what’s really going on.” I think I do what I advertise. There is so much disinformation, misinformation and outright ignoring of legitimate stories that I have my hands full. My editorial process is no different than the New York Times. I just pick different stories and chose to highlight different facts. There is no way a journalist can include every fact of a story, so there is an editorial process. My process repeatedly comes to a different conclusion than the MSM. How is what I am doing different that what they are doing? It is not. I just happen to have a track record of being correct. How often on this site have I come to the conclusion that the U.S. is not in a recovery? On Friday I was proven correct again with the latest unemployment numbers. I do some of the exact same things I was doing at CNN here on USAWatchdog.com. Editorially, I pick what stories are important and what facts go into those stories. That is no different than what the mainstream media does and they are journalists and I am not? Their conclusions are often incorrect and that makes them objective? You don’t think Matt Taibbi makes editorial decisions on what stories he decides to do and what facts go in them? I think the financial story is the biggest in the last 300 years. I also think the MSM is doing a terrible job of reporting it. Reporting a positive spin to make people feel good despite the facts is not real reporting. A profound change is coming and many will be unprepared for it, especially if they get their news from the mainstream media. I boil down complicated concepts and stories and condense them so people can understand what is going on. In short, I do the work and pull it all together. Isn’t that what journalists are supposed to do. I don’t know what I ,but I’d like be be know as a truth teller. Thank you for your comment, kind words and question.
      Greg

      • iknowbetter

        Duuude. I din’t mean to prick a boil. I was just asking where you fit in.

        “How is what I am doing different that what they are doing?”

        You do it better. They do it badly. The MSM is more about entertainment. And many do it under the guise of true journalism. It’s quite easy to see their quasi-hidden biases. Since your biases are loud and clear, it seems to me that you are something else.

        Perhaps the old journalism is a goner. Or maybe the ideal of it is gone. I was just asking what would you call yourself since you aren’t MSM. I grok what you’re doing. I don’t have a word for it, and you don’t either, apparently.

        Your work defines yourself, and that’s good as far as it goes. I get it. However, as strong as you are, you might be stronger if you define yourself and your niche with a viral catchword or something.

        Oh, geez. Ack! I’m suggesting ways of becoming more successful. Never mind. Success might put you into the MSM. And then what would you call yourself.

        …ikb than to write these late night missive

        • Greg

          IKB,
          I didn’t mean to come off defensive, but I can see how you could get that impression. I am sorry, I didn’t mean to do that. I actually sat down and put some time into answering your comment because I found your question refreshing and challenging. You are right, I don’t know what to call myself but you do raise a very important question. I really appreciate you looking out for me and yes I do want to be more successful. Heck, maybe we can take back the media message from corporate America and more people can know the truth about what is really gooing on. Many thanks for your interest and support.
          Your friend,
          Greg

      • g. johnson

        hey greg,

        first off, sincerest kudos for what you are trying to do here. no, not trying, what you ARE doing.

        i do agree in principle with what (i think) iknowbetter is trying to say. you made your living in a paradigm of journalistic endeavor that was, in a large part, frustrated by the constant fight to get a story out through an editing system that curtailed much of the content from ever seeing the light of day. unlike a lot of reporters and journalists who just stay in the game for the paycheck an/or the notoriety, you made a conscious decision to do something about that frustration, walked away. and “took it to the street”. freaking bravo. seriously. awesome.

        i stop by this site on pretty much a daily basis. mostly i just lurk. read your stories and (mostly) the reactive posts.

        what i see here, and what i like here, is a newbie bringing in other newbies and beginning to explore the truth of what is going on both in america and in the world at large.

        nothing but a good thing.

        sometimes i leave a comment, and often (i am sure) my comments tend to make you a little nervous. glad to be of service 🙂
        but you always print my comments, sometimes with a comment of your own, sometimes not. again…..very good show. not being afraid to let different points of view into a discussion is essential to any valid exploration of the truth. did you get that from noory? or are you a natural?? 😉

        the point i am trying to get to here is that the monetary crisis is not the biggest story of the last 300 years. it’s just a really really big red flag, a symptom of the big story. a story that is over 2000 years old (way over) and has more twists and turns than an olympic mountain logging road system. the biggest story in the true history of mankind is the story of the dark side of the human psyche versus (of course) the light side of same.

        forgive me if i am sounding melodramatic here, but truth is, stephen king could not be too dramatic in describing the human condition and it’s ramifications at this point in our history.

        i see a lot of people in here that are among the recently awoken, or those beginning to awaken because they were hit hard in the old wallet, in the portfolio. the bank account, retirement account, the insurmountable pile of bills on the kitchen table, etc., etc..

        good. whatever it takes to wake you up, just wake up.

        i have been watching this story unfold for over 45 years. i am a newbie. i know what the frustration of trying to bring the truth to light is all about. it is damn near impossible to convince anyone that their chosen political party is just a corrupt and working just as hard against your best interests as the other party, let alone try to convince someone that, basically, everything they know is wrong.

        so, you have to do it yourself. you know something is not right (damn i hope you see that as an understatement). investigate, don’t be influenced by anyone who would profit from influencing you. it’s all there, all the cause and effect, all the motivational reasons, everything. you just have to want to find the truth. and the truth will set you free, but only if you are ready and willing to be free.

        so thanks again greg, i really enjoy the site. good people come here.

        just for a good place to start for anyone looking for fellow travelers in the cause of human goodness winning out. i would like very much to introduce those who have not yet met him to aaron russo. one of the great patriots and humanitarianists of our time. although he died some 4 years ago. he left behind a legacy that has helped thousands see the simple clarity in the cause of liberty. to see enough to give them the courage and reason to move forward. to keep learning, to understand that the fight for human dignity and liberty is oh so very real.

        spend 4 hours with this man. if you are not better for it….well just go back to sleep.

        this page is an homage to mr. russo. three films are available. watch them in order. aaron russo is not a saint. aaron russon was just a man who got it. and he learned how to give it away.

        http://dandelionsalad.wordpress.com/2007/08/25/aaron-russo-has-died-aug-24th-2007-mad-as-hell-america-freedom-to-fascism-directors-authorized-version-videos/

        when you look up and see the shit rolling down at you, you have two choices. drown in it, or push it back up the hill.

        • Greg

          Thank you G. Johnson for the comment, very kind words and the link!!
          Greg

  11. George

    Hi Greg,
    Thanks for touching on the real news stories of the week. As far as i can tell, you were the only person to mention the mexican trucking story. I think that the pilot program is over and Obama signed the agreement that gives mexican trucking companies free reign to operate in the US, in direct competition to American companies. So Obama&Co. has desroyed another segment of the American middle class. Also this week was the final shuttle launch. As soon as the shuttle lands another 2000 people will be fired. That will bring the total job loss to about 10,000 that are directly linked to the nasa shuttle program. I’m assuming thats mostly middle class jobs lost and thats not including the economic devastation of the space coast area. I guess Obama&co are well pleased with their weeks work having destroyed another good chunk of the American middle class.

    Oh and by the way, great job on C2C the other night. You are the only news person who has any integrity. Thanks for your hard work and honest reporting. Go USAWATCHDOG!!!!

    • Greg

      Thank you George.
      Greg

  12. George

    Question 1: Is there any gold of consequence in Fort Knox?
    Question 2: if there is not, and I am wondering why we would not do an audit every decade, what is uncle sam going to pay with

  13. Ron P

    Greg, If it is not in a tweet or sent through Facebook, a large percentage of Americans will never hear or see anything concerning those subjects. The trial has been widely covered by those using this technology, the debt and deficits have not.

    And remeber, those that voted heavy for B.O. are the same ones that get their news from a tweet or facebook posting. Not until the country goes into the toilet and they get impacted directly will they pay attention and that is too late!

  14. M SMITH

    Obama & members of Congress still trying to push the Internet Kill Switch, why? the excuses vary, but we know the truth, don’t we! Don’t let it happen, start calling,faxing,emailing,every congress person, don’t settle for a aid, you want a answer that they Will Never Support a kill switch for any sort of made up emergency! Real or not! If we have a man made or natural disaster that is when we need access to every resource there is left to stop mass panic & have ways to get help to those that need it most. A short video was posted in 06/2011 at http://thedailybellcon/2072/Internet-Kill-Switch.

    Members of congress have silently trying to get more support to give Obama the power sooner. Why? Growing fear indexed nation wide across the board has went way up! Obama’s fear of lost of confidence from independents & progressives made him put his over paid czars/staffers to work using the net to send out polls & offering points to cash in for gas cards & other gifts to take more polls. Also get extra points to sign up others, more people you sign up,the nicer the gift,(but read the fine print,you will Have to spend $25/35 or more to dine out)! Many friends have sent me polls to take, after reading the rules hidden so small you have to mag 5X to read, I took one poll & minutes later my Spam box was full of polling emails full of spyware & viruses,email attachments I never opened, but for security reasons I put one in my in box & typed in the address in a new page, Norton 360 5.0 alerted me as high danger, it traced it’s trail, every part of the world had red circles on it, black dots were hot spots plotting where data was being gathered & sent to other servers to target with mass emails,social media & home phones, no US citizen is being spared world wide unless you put a block up. The questions are twisted to trick people to answer in a way that would produce false data to swing congress toward what Obama & the progressives wants, dirty tricks being paid for tax payers to shut the door on more freedoms!

    People need to keep a close eye on the Swiss, they are moving toward backing their currency with some sort of physical Gold, talks are in the works now. You may find more at http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/9_Jim_Rickards.html.Jim has over 30 years experience with topics vital to the updates he gives on Geo political/economic/world monetary news.

    • Greg

      M Smith,
      Amen to that !!
      Greg

  15. Jflan

    What happen to videos… no mas? 🙁

    • Greg

      Jflan,
      I had a story in the video that I did not properly confirm with so I took the video down and re-wrote my “Weekly News Wrap-Up” (WNR) over again and took out the story. I like everything on the site to be rock solid and that was not. The story in question was about JP Morgan and HSBC being hit with federal RICO charges. I simply could not independently conform it and checked everywhere for a second credible source. While I was re-writing the WNR I took the opportunity to include some new information about new unemployment data that came out after I recorded the WNR. I will be back with a new video this coming Friday. Thank you for asking.
      Greg

  16. Rich hopkins

    Hello Greg,

    I thought your weekly wrap video was excellent. I tried to send my subscribers there (MrThriveandSurvive channel) and the video was gone. Are you to re-post it? What happened?

    Rich

    • Greg

      Rich,
      I had a problem with verifying a story in the video and I took the post down and did an updated written version. The video will be back this Friday. Thank you for four support.
      Greg

  17. Phil

    Hey Greg
    I just went to the Wachovia bank this week to cash a check for $29750. I had to call 5 banks before I found one that could do it. It was on Wednesday and banks in Winston Salem,Clemmons and Advance were unable to make the transaction. I had to go to Greensboro to get it cashed. All paid out and gone now but I needed it in cash to pay out in cash for the principle of paying debt. This was a startling discovery to me that a banking company this big was unable to perform the transaction without the difficulty I had. This should be a wake up call to everyone. Please with hold my full name for obvious reasons. Phil

    • Greg

      Phil,
      A friend of mind took 2 months to get a $35,000 account closed and a check sent to him. How difficult do you think it will be to get money out of a brokerage when the next crash comes? Good info on your bank. Thank you
      Greg

  18. Ambrose

    Greg,

    Why bother to change the debt ceiling when there is no real long-term commitment to reduce the debt? Just go ahead and remove the ceiling! Make the U.S. the first country in the world wth unlimited debt. We are a country built on debt. That is a new American tradition for our children.

    Many people still do not feel the urgency to fix this country’s economic problems. They have been manipulated by the Government and MSM for so long that they don’t see the real problems. According to Shadowsats, June Unemployment Rates are 9.2% (U.3), 16.2% (U.6) and 22.7% (SGS). Also, April Year-to-Year Consumer Inflation: 3.2% (CPI-U), 3.6% (CPI-W), 10.7% (SGS). If our government cannot face the true figures, I don’t see any hope that any problems will be solved. Just like a drunk guy told other people he was sober and then drove his car off the cliff – that is exactly how I feel.

    Last week I saw an interesting news on Fox TV. It reported that the number of employee shoplifting was up from last year. The reporter explained that this is a good sign of the job market because employees are no longer worrying about getting caught and not able to find another job. What a joke!

    Don’t worry, be happy. Next year we will have to choose the lesser of two evils again. I don’t see any good presidential candidate out there. If the U.S. economy does not get better, Obama probably start a war to distract the voters from his mismanaged administration.

    Ambrose

  19. M SMITH

    Greg should get a award for the work he does, congress awards bad behaver? Greg tells it like he sees it, it’s hard damn work I would say to tell the truth, very easy to lie as you steal from your fellow man, I see every day on the MSM news outlets, repeat & wash, Repeat again.

    Greg, after your reply no video, I met a old buddy Saturday I had not seen since high school, we worked together at my ants grocery store & both of us were in music classes together. We had a lot to catch up on where our lives had took us. His was electronics & mine was environmental engineering & supply side management while in the Military. Time flew by as we told each others life journeys. I know where the future for many will be, advanced IT/IP security systems, communications & the people that are able to work along to meet/greet/install/train a companies IT personnel that being born out of homes & small shops maintained by a small groups of people who break from the pack to become self employed. My buddy has a 2 yr old IT Security Biz that has expanded across the south. Also a new form of music that’s really old & the roots where the blues was born is making a come back. I hope you enjoy the video & web site. http://CigarBoxGuitar.com, Homemade instruments is making a come back & the music is great.

    Also my son-in-law has a interview for a full time high paying IT/IPCSS job with him & I walked away with a deal to sort through 43 years of pocket change. 45 plus years of coin collecting now has turned into looking for those RARE COINS who billionaires seek out to add to their private stash of the worlds treasures, as John Wayne said Happy Days Ahead!

    • Greg

      Thank you M Smith for your support and comment. I hope you find a “Carson City” (CC) silver dollar in your collection!!
      Greg

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