Weekly News Wrap-Up 1.11.13
By Greg Hunter’s USAWatchdog.com
Looks like the gun control debate is taking precedence over the severe financial problems the country is facing. We have a debt ceiling issue that could call into question the “full faith and credit” clause of the Constitution. In other words, we might default on our debt. We have these automatic cuts that have been postponed, and we still don’t have a deal to cut government spending. So, why is the Obama Administration pushing gun control now? Does the government want to start disarming the public just in time for the next financial meltdown?
It is now plain to see, massive crime by big banks is going unpunished. The most recent outrage is the latest deal with the big banks over mortgage fraud. A mere $8.5 billion settles the whole issue. What? This was trillions of dollars in fraud. What do you think QE 1, 2 was all about when the Fed decided to buy all this “toxic” debt? The Fed continues to buy this junk at a rate of $40 billion a month. What about criminal prosecutions? There have been none, zero, nada, for the financial elite. Look at the $800 trillion LIBOR rate rigging fraud. How about the money laundering for drug cartels and terrorists? HSBC was the latest to get fined, but, again, no criminal prosecutions!! Regulators said the reason why the bankers were not charged criminally is they were afraid to cause a financial collapse. A financial collapse could cause the collapse of the system. Yes, and that is what the real problem is. Nothing is fixed. As a matter of fact, I think things are potentially much worse than 2008. In the broader picture, are they really afraid of social unrest? My question, why not deal with guns after we fix the economy? Maybe it really cannot be fixed?
AIG will not be part of the shareholder lawsuit. It appears AIG shareholders feel they didn’t get all the money they deserved. What a bunch of weasels. If taxpayers didn’t bail them out to the tune of $182 billion, what do you think those share would have been worth?
Jack Lew has been nominated as Treasury Secretary. This is the guy that crafted the budget in 2011 that didn’t get a single “yes” vote in the Senate. Senator Jeff Sessions said Lew lied when he said that budget wouldn’t add to the national debt.
Finally, there were record sales of U.S. Silver Eagles this week. Nearly 4 million were sold in a single day. What do you suppose the price would be if they went ahead and deployed this crazy $1 trillion coin idea to fix the debt ceiling?
Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.