Weekly News Wrap-Up 1.11.13

45By 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.

Comments
  1. Sean S

    Hi Greg

    “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 a very emotive issue which mobilises masses of debate, much waffle on both sides etc etc , many column inches in newspapers and internet sites, time in the mainstream electronic media and so on. What is more it is an issue of distraction which you can run for months and months without people getting too bored with it, especially when you have just had some darling little innocent kids brutally gunned down by some mentally deficient loony. (That is until the next mass killings by some other loony because this will not be the last one). Hence the really critical financial and economic issues that people like yourself are constantly talking about are pushed out of the spotlight which is exactly what the Government and the Federal Reserve (both of which have incredibly jointly mismanaged fiscal and monetary policy) want to see happen.

    Just do a brief article on gun control issues here and you will be swamped with comments. Talk to someone in the street about massive FR buying of Government debt and irresponsible levels of Government spending, massive levels of inflation in prospect etc. and their eyes will glaze over.

    IMHO, talk of totally removing all fire arms from the public is emotional rubbish because it simply will not happen – not in your life time anyway. The second amendment, the NRA and political reality will see to that. At best certain types of particularly sinister auto and semi auto high powered weapons may be restricted from purchase but the public will still be left with access to arsenals of fire arms not on the restricted list. There is a line drawn now on what weapons the public can buy. It has never been open slather. That won’t stop the NRA and others whining of course because any change whatsoever to the status quo, no matter how minimal, is like a red rag to a bull with these people. (The old thin edge of the wedge argument). Just my opinion – nothing more.

    So as I said, there is nothing like an issue such as this to distract the masses. How about we add some debate on abortion,gay marriage, etc etc. The media will have a field day with all the less important issues and the zombies will all tune into it as they always do.

    By the way, getting back to items of importance, I am looking forward to you doing an interview with Bill Gross at some stage and perhaps also his CEO, Dr. El-Erian. Would be interesting if you could swing it (not at all easy I expect). I am sure there are many economic and financial issues you would like to get their current take on.

    Thank you.
    All the best.
    S

    • Greg

      Thank you Sean for the comment, analysis and support.
      Greg

  2. art barnes

    Greg, yes they are afraid of social unrest. Billions of bullets being sent to various government agencies, small town police departments looking like marine invading divisions, gun control tops agenda with executive orders coming to implement them, drones in America spying on Americans, executive orders in effect for detention of Americans without habeas corpus, and on and on. As you guest said on your interview this last Wednesday a financial collapse is coming and they know it. All debt based economic systems have a life span, ours was created in 1913 and without it tied to a standard (such as gold) it cannot be healthy & maintain itself. Simply stated, it will inflate its way into collapse. What keeps a debt based economy somewhat viable is a “standard” if you will, without it it self destructs. It does take time in order to do so, in our case its been since 1971 with the Nixon Administration’s changing the gold standard. Simply stated, a fiat currency has a life span and the dollar is aging quickly.

  3. ROY

    It is now very clear that the economic situation is not fixable. The banking fraud will not be punished because these corrupt bankers are just employees taking orders from the same boss or bosses, the president takes orders from. This whole financial mess is a very well organized take down of the global financial system, to be replaced with who knows what. We won’t have long to wait to find out what they have planned for us. I think it is far too late for us to do anything except to put any excess assets into physical things, farm land, precious metals, food, guns, barter stuff. Just think you knew later this year a great quake was to hit in your area, what would you do to prepare for it, Probably not a quake, but something just about as bad if you live in a big city, a financial quake is far worse. Just look at what the big moneyed folks did, created a huge pump and dump in the american housing market, now they are buying up large blocks of this foreclosed housing for rentals. I think they all ready are using another system of financing their global empire building. The paper currency is just a dinosaur system that will be soon be put out of it’s misery. This gun control issue is just a screen saver type issue to keep the waters muddied,while they complete their grand plan. I believe there was an incident back in the George Bush the second presidency, that Bush was over heard on an open microphone, ” if the American people ever find out what we have done to them , they will hang us all” .

  4. Jim H

    These things that are happening are not happening by mistake or as a result of loss of control, they are happening as the execution of a plan.
    The plan has been articulated by the wealthiest and most powerful people on the planet for decades and yet for some reason no one seems to hear what they say.

    “We are grateful to The Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the work is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto determination practiced in past centuries.”

    David Rockefeller, founder of the Trilateral Commission, in an address to a meeting of The Trilateral Commission, in June, 1991.

    “The Council on Foreign Relations is “the establishment.” Not only does it have influence and power in key decision-making positions at the highest levels of government to apply pressure from above, but it also announces and uses individuals and groups to bring pressure from below, to justify the high level decisions for converting the U.S. from a sovereign Constitutional Republic into a servile member state of a one-world dictatorship.”

    Former Congressman John Rarick 1971

    “In the next century, nations as we know it will be obsolete; all states will recognize a single, global authority. National sovereignty wasn’t such a great idea after all.”

    Strobe Talbot, President Clinton’s Deputy Secretary of State, as quoted in Time, July 20th, l992.

    • Greg

      Good stuff Jim H!! Thank you for posting it here.
      Greg

    • frosty

      Speaking of quotes that help explain current conditions…

      “Give me control of a nation’s money and I care not who makes it’s laws” — Mayer Amschel Bauer Rothschild

  5. Spanky

    Greg ;

    you need to do a piece on the blatant gold and silver market rigging. we had another big one this morning at 6:45 PST …. down $16 in 30 seconds!!!! nobody trades like this.. it is the FED itself doing the rigging. record sales of silver as you say and gold as well , yet the “price” goes down every week ……

    • Greg

      Thank you Spanky Mike and Claude for the comments.
      Greg

  6. Mike Preslar

    Once again Greg you hit the nail on the head. Our Government no longer works for us, they only exist to hold on to thier own power.
    I’m afraid a violent time will come to us all when we can no longer lie our way to prosperity on the backs of the worlds poor.

    I wonder why the fact that Law Enforcement and tough Gun Laws failed to protect anyone at Sandy Hook? Call 911, good luck with that.
    The ‘Rule of Law’ no longer exists, it’s no small wonder Peace and Justice have lost a place in our society. We don’t have a Gun problem, we have a Mental Health problem.

  7. Claude Tanguay

    I like affirmation on your photo today.
    “Commodities most likely to be manipulated by Bullion banks”.
    Today we saw a big drop for gold and silver at 9:45. Banksters want Gold and Silver at low prices and they will. Small investors are stuck with market manipulators and are afraid to invest. Really depressing… M. Hunter, congratulations for your analyzing. Really enjoyed. We will place a link about your website on our page. Investors need to know your site.

  8. BOB D

    Bankers were working with Congress and the Pentagon , as part of the war on terror. The FBI reported to Congress around 2005 about the housing bubble. Congress just look the other way.
    The every day Joe felt rich getting all the easy money,from home prices going up. If Joe had to fund the wars, we wouldn’t have useless wars.
    Generals don’t go to jail for doing the war thing for Congress, why should the Bankers. If the Bankers go to jail they take Congress with them. The western
    Banks clean the drug money under orders from the government. Better we clean the money and control the profits.
    Congress can’t pass laws , when they know on the other hand they work in a lawless system.

  9. Chuck Allen

    Greg,

    Gun control is the only objective the federal government wants to implement. If need be the “GUNS” in American should be used to secure the nation AGAIN!

    The U.S. as a whole should jump over the “Fiscal Cliff” and get it over with. Americans should take action and force bankruptcy on the banks by not paying back a single dollar owed at this point. I’ll bet the fiscal cliff would happen next week. Then as a nation we could work on correcting the problem.

    Another point, the words politician and banker should be removed from the lexicon and made illegal to use them again. Banks should be outlawed and replaced with credit unions where the lenders are the same people who own the credit union and save their money there.

    Representatives should be totally controlled by reduction in number; (why do we need over 500 of these bums anyway?) maybe one senator and one congressman per state. Maybe! Their terms should be limited to three years, with elections held every year so as to have an overlapping one year cycle of the elected on each end. Their salary should be reduced 20% below, the average wage of the MIDDLE CLASS working population in the U.S. Any pay raises would require a vote by the citizens. Also they would have the same health and retirement available to the people of the U.S.

    I would recommend impeachment of the entire congress and executive at this point. Regardless of party affiliation, they have all failed to do their sworn duty to the Constitution.

    A little “Spring Cleaning” of the government would be a good thing for the health of our country.

    • Greg

      Yes Chuck, There is little difference between the two parties. A good house cleaning is in order but it’s not going to happen. America just voted in the exact same setup we has in the last two years. Thank you for the comment.

    • Rebecca

      I agree with Chuck on many things, but not the number of congressmen and senators per state. If there was only one per state, then the metropolitans would rule and the rural folks and small towns would be left in the dust, to eat the scraps thrown to them by the metro folks. If they would throw them any scraps.

      Reduce the legislators’ wages. Yes. Reduce their benefits. Yes. Put them on the same playing field as the people who voted them in — same health insurance, same kinds of retirement plans. Yes.

      Make it illegal for them to draw big fees for speaking “their opinion” at posh events where they cater to the elite and metropolitans. YES!
      In fact, make it illegal for them to speak at such events, period.

      Cut down representation? No. You hurt the little guy doing that.

  10. Troy

    Kabuki Circus http://www.youtube.com/watch?v=7nKBKPcycFE Enjoy the freak show

  11. Jim H

    Wow Greg!

    I’m the other Jim H so I say amen to the first Jim H post and add applause for your serious heartfelt no matter what I sound like video. Perhaps it is time now for all of us to sound like Alex Jones, Jesse Ventura and others who even I have accused of being over the top at times even when I agreed with their main message. I can’t think of a better time in my 60 years on planet earth to sound the call “we know who you are, what you’ve done and what you plan to do (of course many and much is still hidden with help from the MSM). In my case this I do with a smile on my face because as corny as it sounds, it just feels right to do it this way and people aren’t running away from my fear and negativity.
    Again, great video Greg.

    • Greg

      Thank you Jim H. Serious forces are ato play here.
      Greg

  12. Dave (archivesDave) Clumpner

    GREAT Article Per Usual Greg:
    Your comments on the Trillion Dollar Platinum coin were SPOT on!

    Let’s see now, by my calculations, the size of that platinum coin figured at $2000 an once, would have to weigh somewhere near …
    (are you ready?)…
    TWENTY THOUSAND TONS.
    Even with Bernanke’s hubris and ego, I don’t think even he
    could fit that into his pocket.

    • Greg

      Dave,
      Thank you for computing the math on this and posting it here.
      Greg

  13. Ambrose

    Greg,

    As I recall, Obama and many congressional members were graduates from Law Schools. Most of them are probably masters of distraction. Here is an interesting article from The Paralegal Society about the distraction tactics used by paralegals: “Distraction, Misdirection and the Art of Verbal Jujitsu” (http://theparalegalsociety.wordpress.com/2012/05/09/distraction-misdirection-and-the-art-of-verbal-jujitsu/)

    Why Obama administration is pushing for gun control instead of focusing on spending cut? He is taking advantage of the growing anti-gun movement after the Newtown massacre. Spending cut is much more difficult to deal with and he could upset a lot of people, including many of his supporters.

    Ever wonders why Michelle Obama is pushing for nutritional school lunches instead of addressing the nation’s hunger problems? According to the United States Department of Agriculture (USDA), 16.7 million children under 18 in the United States don’t have enough food because they are living in poverty. How about helping those hungry childern? The First Lady is pretty good at distraction herself.

    HSBC is just another example of “Too Big to Prosecute”. I would strongly suggest that the Congress changes the law so that all the Big Banks are exempted from U.S. Laws and Regulations. Why do you need those banking laws when you don’t use them anyway? HSBC should be called “HSBC, a non-law-abiding financial institution”. Citibank, JPMorgan Chase, and Bank of America will be called law-exempted banks. (“Money-Laundering Inquiry Is Said to Aim at U.S. Banks” http://www.nytimes.com/2012/09/15/business/money-laundering-inquiry-said-to-target-us-banks.html?pagewanted=all&_r=0). Let criminals know where they should bank and do unlawful but acceptable money laundering in the U.S.

    Finally Jack Lew is probably not a good candidate for the Treasury Secretary position. If Obama really want to fix the economy, he should nominate the retiring Rep. Ron Paul as the next Treasury Secretary. Of course that will never happen.

    Ambrose

    • Greg

      Amen to Ron Paul Ambrose.
      Greg

  14. Doug

    Greg
    Tizzle Tazzell Twizzle Twum. Time for this one to go home. Let’s establish an annual meeting retreat soon and all meet to hash out future details. Might be an interesting prospect.
    Doug.

  15. John Titus

    “Regulators said the reason why the bankers were not charged criminally is they were afraid to cause a financial collapse.”

    The regulators are wrong on both the facts and the law.

    First, by the time the story broke, “HSBC ha[d] already sacked all the senior staff involved in the scandal.” http://www.guardian.co.uk/business/2012/dec/11/hsbc-fine-prosecution-money-laundering The DOJ never explained–nor was it ever asked–why it wasn’t prosecuting people who’d left the bank. Even if prosecuting HSBC would somehow cause a collapse (which I very much doubt; I thought this lie died with the TARP fiasco), that theory cannot and does not apply to anyone outside the bank. Why was this entire class of admitted criminals given blanket immunity?

    Second, the DOJ’s theory is legally wrong because it leaves admitted criminals in charge of a bank that’s supposedly critical to the system as a whole; this result is illogical and indeed insane. Tellingly, the “sky would fall” argument is materially identical to a bomb threat from terrorists, and illustrates the wisdom behind the legal admonition, Fiat justitia ruat caelum (let justice be done though the heavens may fall. The fact that the “systemic risk” argument comes from the DOJ reveals much about our so-called law enforcers.

    In any event, the rush to make the 2nd amendment the next casualty in our ongoing legal crisis is very troubling indeed.

    • Greg

      John Titus,
      This is good straight forward analysis. Thank you for posting it.
      Greg

  16. jc davis

    Greg. tic toc… Its time for john Williams to give us the real numbers for 2012 deficit he spoke of in his last interview with you.

    • Greg

      JC Davis,
      Williams will hopefully be on soon.
      Greg

  17. Greg

    Where are the arrests? From what I have researched, the secret societies have infiltrated most areas of commerce, law enforcement, congress, judicial, and some state systems. When you watch and read papers/documents/videos about these societies it is a no brainer that we can’t get an arrest; they are all part of the scam and protect each other by oath of death. Until these societies are talked about and more people understand the grip they hold on our nation – nothing will change. JFK tried to expose them (and other stuff) and they did not like that too much did they.. We can complain all we want, but nothing can be done until people begin addressing these secret societies. Why is it a person will go to prison for robbing a bank, but when the bank robs the American people no arrests are ever made. It is time this subject is placed where it belongs and that is in venues like this. It is only common sense to see the American people are being played on a huge scale and another false flag is right around the corner.

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