By Greg Hunter’s USAWatchdog.com
Once again, the Ukraine crisis is the top story. President Obama is threatening Russian President Putin with international sanctions if he does not back off in Ukraine. Russia is countering threats of sanctions with threats of sanctions of their own. Russia may also demand payment for its oil and natural gas in gold. Dr. Jim Willie brought this up this week on USAWatchdog.com. It’s not just the U.S., but the European Union is also leaning towards sanctions, and it appears Germany is on board. This comes at a time when both the U.S. and EU are facing continued bad economic news. Just this week, it was reported that wholesale inventories for things like autos rose and sales plunged. Not a good time to start an economic war. Meanwhile, Secretary of State John Kerry issued an ultimatum to Russia about the annexation of Crimea. The deadline is Monday. Only one catch, looks like the voters there are going to overwhelmingly pass a referendum to join Russia this weekend. The U.S. and EU say they will not recognize the vote as legit. Russia is also amassing troops on the Ukrainian border. Russia already has 25,000 troops in Crimea. They have been there because it has a naval base there. The new Ukrainian interim Prime Minister, Arseniy Yatsenyuk, has asked for weapons from the West; but so far, his request has been denied, at least publicly. The new Ukrainian interim PM has also said, “We fight for our sovereignty and we will never surrender.” I am very worried that neither the West or Russia are going to back down, and we will have War. Don’t kid yourself, this could eventually turn into a nuclear war, and where does it stop? The Obama Administration must know the danger. Do they actually want war?
I did not want to cover this but I am because image of the President is very important. This latest “spoof interview” with comedic actor Zach Galifianakis called “Between the Ferns” did not help his image. On one hand, the President is doing some goofy interview to pitch a failed health plan. On the other hand, the President is warning Putin to “back off.” This all happened this week.
It is heating back up again between Israel and Hamas in Gaza. Hamas fired dozens of rockets into Israel, and Israel responded with air strikes against what it calls “terror” positions. There had been a cease-fire until this week. Now, sources claim the cease-fire is back on. How long this cease-fire will last is anybody’s guess.
With the talk of war and rumors of war along with possible sanctions between the West and Russia, is there any wonder why the stock market plunged 230 points on Thursday? Inflation is back in the picture, and even the mainstream media is talking about it now, so you know it’s bad. My friend, Gregory Mannarino of TradersChoice.net, says look out below if you are a stock investor. The market is going lower from here. As far as inflation, Mannarino says forget about inflation, the real story is the dollar and it is deflating. Yes, the deflation in the U.S. dollar will cause more inflation for you and me. Mannarino says watch the value of the dollar. It is sinking and will continue to do so.
Dianne Feinstein, who is in charge of the Senate Intelligence Committee, is upset the CIA spied on her committee. I say, now she knows how we feel! She says the CIA illegally went into Senate computers to remove documents about torture allegations in the post 9/11 world. The CIA says the Senate did not have authorization to have the documents. What? The people overseeing the CIA need permission to have documents for oversight? Really? Over in the House of Representatives, Darrell Issa says what the CIA did amounts to treason. Feinstein says what the CIA did was unconstitutional and violates “Separation of Powers.” CIA Director John Brennan has denied doing anything wrong. I guess some folks in Congress finally see how out of control the spy agencies have gotten. This goes well beyond protecting the country from terrorists. Thank you, Edward Snowden.
Finally, the GOP won a Congressional seat in Florida this week in a special election. Let me tell you why this is an ominous sign for Democrats. I have been telling you the Democrats are going to get blistered in November. Now, even ultra-left wing commentator Chris Matthews agrees with me that the Democrats will lose the Senate this fall. I used to live in Pinellas County, which is a county in the Tampa Bay area. Tampa Bay is what is called a test market. Why? It has a very diverse population. You could call it a microcosm of America. The Democrats out-spent the Republican candidate, David Jolly, by 2 to 1. If the Republican prevailed in this race, can you see how the rest of America might vote come November?
Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.
Jim Sinclair will be on this coming week. It is a must see interview!