Weekly News Wrap-Up 11.4.11

By Greg Hunter’s USAWatchdog.com  

Will the people of Greece vote on the 130 billion euro bailout plan?  Not now, according to the Greek Prime Minister.  The people will be heard even if it comes to more intense protests in the streets.  For now, the sovereign debt crisis and worldwide financial meltdown are on hold, but not for long.  Israel was planning an attack against Iran, and the plan was leaked by former Israeli intelligence personnel.  Will they attack anyway?  Herman Cain and sexual harassment is the story the MSM is fixated on, but does he or anyone else have a plan to fix the country?  The national debt is $15 trillion, and 15% of the population (a new record) is on food stamps.  Is there anyone out there that will address the real problem in the country and that is insolvent banks being propped up with government sanctioned accounting fraud?  All this and more from Greg Hunter in this week’s installment of the Weekly News Wrap-Up.

Comments
  1. Alessandro Machi

    Greg, you wrote…”Is there anyone out there that will address the real problem in the country and that is insolvent banks being propped up with government sanctioned accounting fraud?”

    adding to that, “Debt Restructuring by bank customers requires that the customer first be placed into default”. This is an outrage and needs to change.

  2. jay

    greg. id like to piont out some things.
    1 nothing leaks out of the israile country without them wanting it to . i believe they are testing the responce of china.
    2 i see no reason to go to war with iran over nukes..they already have them by being in aliance with china.china made this clear.
    3 my ideas on greese is the same as the thoughts i have of msm,they all work for the oligarchy influenced by the big banks.
    id like to see you state your ideas to fix the economy,different from ron pauls ideas. should we just abandon all money not backed by gold and silver?
    http://www.freepress.net/ownership/chart/main
    the big six msm and there owners. love,and look foward to your comments daily.

    • Greg

      Thank you Jay for weighing in with your comment.
      Greg

  3. Mitchell Bupp

    Hi Greg, I don’t know what the Greeks will do? I suspect this is about trapping and containing oppsition to the bankster bailout. Papa George knows that the Greek people would flush the Euro if given the chance. The entire theroy of paying debt with more debt is a self fulfilling policy failure. The facts remain that the asset (derivative) bubble will soon pop. This is clearly evident by the banksters actions to limit their exposure and put their debt on to the government just like the politicians did in Greece. The Greatest Depression is soon to hit. I hope that millions of American are preparing to weather the storm. I encourage everyone to look at and evaluate their position when the economy takes another downturn.

    • Greg

      Thank you Mitch, Hoppe and Art for the comments.
      Greg

  4. Art Barnes

    Greg, maybe Israel put out a false leak to bring attention to the Iran issue once again and to place it on front stage again instead of the European economic play which has been on the MSM spotlight for months now. Who knows for sure, but bet that Israel will not allow Iran to get nuclear. Would we allow Mexico to get Nuclear when every week a statement comes out of its leadership that they want the US to be destroyed and driven into the sea; I submit surly not and what country in the world would. History may record that Iran’s leadership failed to take enough Prozac and was destroyed because of a bad case of “run of the mouth” trying to evoke someone to come forth from its water wells.

    As for the Greek issue, the now “no vote” will insure that the people rise up again. I frankly can’t see the real problem of default for its people. Thinking people should opt for the default, start over and learn from your mistakes. Why suffer for the sake of the criminal banksters, they are at least at guilty anyone else if not more so in the matter. I predict the Greek people will not take this standing down eating Greek salad. Frankly, I’m proud of the Greek people for taking it to the streets. Once again, its the leadership who is selling its people out of the equation just like they do here. They take us to war, pass thousands of fees, taxes, laws and regulations without much discussion except lip service.

    Cain, Cain & more Cain. Although I don’t like a fiat man in the first instance, on the sexual harassment issue its just the MSM and the administration afraid of a black conservative running against the president. The liberals know that many black Americans are very conservative especially on family and other such issues and Cain would make a lot of inroads with their voting block. Frankly, I’m tire of the so-called sexual harassment issue which came along with the woman’s movement 50 or so years ago. Its now just turned into a quick money scheme for the corporate woman to bag another man and place another notch on their gun barrel. Shameful as men that we were taught to admire beauty and give a compliment by our parents. My father predicted not long before he died that there was a time coming when no one will get up and give their seat on the bus to a female, who knows in time maybe that jester could be construed as harassment. I think I will sent Mr. Cain some money just for the political lynching he is receiving.

    Lastly, 15 million on food stamps and growing I surmise. One has to ask who benefits from that, follow the money so to speak; maybe agriculture? An American farmer preaching at the local coffee shop about the inequities of giving poor people food stamps while his commodities is high due in part to the food stamp program is demagoguery. I have never received a dime from any program in my life including unemployment insurance, etc., but I’m willing to help out those who need it, or at least I’m not going around in a hypocrisy stupor.

    We need to see clearly that the elite of our country, their bought and paid for Main Street Media and the politicians in Congress is not going to do anything but keep us squabbling between each other as different parties and “groups”, states, and or voting blocks, etc. all the while they steal us blind.

    • Greg

      Art,
      Thank you for adding your analysis to this post.
      Greg

  5. M SMITH

    Greg, MF Global knew what it was doing & I bet the SEC & CFTC also knew, but just as the other Primary Dealers have been doing for decades, looting the pension funds of millions of Americans in the currency markets. State Street & Bank of NYC Mellon were caught red handed, but it was not the SEC & or CFTC who brought this to the Attorney Generals of FL,VA & the AG of southern district of Manhattan. So why do we even need these over paid scum bags?

    Martin Armstrong has been silentnt for a while, but this morning there is new writings that relates to your weekly wrap up. http://armstrongeconomics.com/writings. Two are dated 11/01/2011, the last two are Nov 2nd & 3rd.

    I have a lot more to add but will have to do it later.

    • Greg

      Thank you M Smith for the tip that Mr. Armstrong has new stuff out to read.
      Greg

  6. RonP

    Greg, why is it that many can see the problems that we are now experiencing and see the future problems coming at us without resistance, but nothing is being done to stop that from happening? Why is it that moderation in government where the two sides work together (like Reagan a Tip O’ working on raising SS age to 67 to extend the programs life)to get something done is bad?

    It is not complicated to watch what is happening in Europe to see what we are facing in a short period of time. If have my facts straight, Dexia has failed in Europe and was one of Europes larger banks. Dexia passed Europes stress test and sill failed. There are four more large banks in Europe that have passed their stress test and are close to the same results as Dexia. These banks, along wit Dexia have large loans outstanding to the PIIG countries and with the defaults to come, once the first couple fail, so will many more.

    The question then will be how long our large banks can survive given the global nature of banking finance. Will Bank Of America survive if they have large balances with European countries? How about JP Morgan/Chase?

    Yo ask if any one of the candidates have a suggested solution to fixing the country. I offer that before the country can be fixed, we need to fix our government. As long as they are controlled by both fringes of their parties, nothing will be fixed and we will end up “Europe”.

    • Greg

      Ron P all good questions!!
      Greg

  7. steve

    Thanks for giving your opinion on whats going on. Always look forward to it.

    • Greg

      Thank you Steve for your kind words and support.
      Greg

  8. Scotsman

    Israel is surrounded by enemies sworn to destroy her. Terrorists to the north, east, and south supported by at the minimum Iran. 100,000 rockets, Syria, a newly unknown and heavily armed by the United States Egypt, Iranian proxies, allies, and even Revolutionary Guard members in Lebanon and Syria, all with the intent to destroy Israel. Iran has been at war with the United States since 1979. If Israel or other nations strike at Iran for developing a hostile nuclear weapons program aimed at the destruction of Israel or a proliferation of nukes to terrorist groups then I have just one question. What took the threatened nations so long to act?

  9. herb

    The article in yesterdays New York Times shows that nothing has changed in the way our goverment watchdogs are guarding the chicken coop! Jon Corzine belongs in the same catagory of all the other slime that has run Goldman and has help brought down our economy. Hank Paulson who should be behind bars like the rest of these CEO’s of Goldman that continue to game the system.

    Occupy Wall Street continues to get more wood to add to the fire! Toast them!

    • Greg

      Herb,
      I agree! had we not bailed out the banks and protected only the depositors things would have been better by now. If we would have fired the banking and Wall Street heads and prosecuted some of them for the crime they committed then the “OWS” movement would have never materialized. Greg

  10. Bob

    Credit Unions are looking for help,this is a good sign. Now we just need to get the troops home before the world cuts are credit rating.

  11. Frank Rizzo

    Can we just make it through the holiday season without the global economic collapse happening?

    I wonder if crossing the 15 trillion dollar US debt will cause psychological damage to the markets? We are in such bad shape! We shouldn’t let our governments be so reckless with our money. Perhaps Australia will open its borders to those that have portable assets.

  12. jay

    centeral banks buying up gold.
    http://news.goldseek.com/GoldSeek/1320411600.php

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