Weekly News Wrap-Up 4.12.13

5By Greg Hunter’s USAWatchdog.com 

North Korea, once again, leads the Weekly News Wrap-Up.  There has been nothing done to ease tensions in the past week on the Korean Peninsula—just the opposite.  On one side, you have the North Koreans planning more missile launches.  On the other, you have U.S. Secretary of Defense Chuck Hagel saying North Korea was “skating very close to a dangerous line.”  Incendiary things have been said in the past by North Korea, but nothing coming close to what’s been going on in recent weeks.  Kim Jung Un has personally been making war comments, and I wonder if Un has painted himself into a corner.  Will he feel he must attack to save face?  What will be the U.S. response to any attack?  People like Republican Congressman Peter King have publically said the U.S. has the right to make a preemptive strike.  Former Vice President Dick Cheney warns “We’re In Deep Doo Doo” on the North Korean situation.  Big questions about war with North Korea are yet to be answered.   

In the Middle East, the U.S. Navy has moved a laser attack weapon to the Persian Gulf.  It is reportedly a prototype, but I’ll bet it works just fine.  It is supposed to be able to disable boats and aircraft.  Why move a prototype to the Persian Gulf?  This is not a move towards peace.  It is adding to the military hardware already in and around the Persian Gulf.   This is another world tinderbox waiting for a spark.   

Think the financial situation is much better now?  Christine Lagarde of the International Monetary Fund (IMF) thinks so.  This past week, she said the “economic world no longer looks as dangerous as it did six months ago.”  Really?  Is that why Japan is frantically printing $1.4 trillion dollars to buy its own debt?  Is that why former White House Budget Director says Treasuries are the biggest bond bubble in history?  Is that why Cyprus is fighting a more than $500 million sale of its gold as part of a bailout deal?  Is that why Mohamed El-Erian, CEO of PIMCO, the world’s largest bond fund, said this week the IMF, EU and ECB “seems so disconnected from reality” when it comes to the ongoing Cypress banking crisis.  Late last year, Ms. Lagarde said this was a bad idea to print lots of money that would fuel a currency war.  Now, it’s a great idea to print massive amounts of money.  I don’t get it.  What changed? 

Join Greg Hunter as he gives his analysis of these stories and more on the Weekly News Wrap-Up.

Comments
  1. Jake

    Thanks Greg for all you do! I watch all of your videos. Good stuff.

    • Greg

      Thank you Jake!

  2. Troy

    The drums of war are beating loud; I’m not buying the hype!

    • Troy

      Things that should make U go Hmm?

      #
      The two faces of Rumsfeld | World news | The Guardian
      http://www.guardian.co.uk/world/2003/may/…/nuclear.northkorea – Cached – Similar
      May 9, 2003 … Donald Rumsfeld, the US defence secretary, sat on the board of a company
      which three years ago sold two light water nuclear reactors to North Korea – a
      country … The company also opened an office in the country’s capital, …
      #
      Rumsfeld Company Sold Nuclear Weapon Equipment to North Korea
      http://www.utne.com/…/RumsfeldCompanySoldNuclearWeaponEquipmenttoNorthKorea.as... – Cached – Similar
      Rumsfeld Company Sold Nuclear Weapon Equipment to North Korea … U.S.
      Defense Secretary Donald Rumsfeld served on the board of a Swiss company
      that in 2000 sold light water nuclear reactors to the government of North Korea,
      which … Rumsfeld sat on the ABB board from 1990 to 2001, earning $190,000 a
      year.

      • Greg

        Good stuff Troy. Thank you for posting it.
        Greg

      • Troy

        What makes me go hmm, is that the story is! no longer on the net.

        http://www.youtube.com/watch?v=RmwqnqL3Hbg

        Google: All wars are banker wars

        http://www.youtube.com/watch?v=Aaq5_sGdcTo

      • Troy

        Treasury Dept: Iran in ‘Far-Reaching Plot’ to Sell Oil
        Sanctions Malaysian Bank, Businesses for Involvement
        by Jason Ditz, April 11, 2013

        http://news.antiwar.com/2013/04/11/treasury-dept-iran-in-far-reaching-plot-to-sell-oil/

        All things (MUST) be denominated, in US dollars. Get it?

        Nothing to see, move along.

        • jc davis

          WOW ! Troy: This is unbelievable. Preventing Iran from trading oil for gold? When will the establishment start sanctions on Russia, and China for trading with Iran. Its a crazy world we (seem) to be alive in.

          • Troy

            Aloha JC Davis,

            “When you’re born you get a ticket to the freak show. When you’re born in America, you get a front row seat.”
            http://www.youtube.com/watch?v=EkTeZLiNCoM

            George Carlin. Enjoy the show ;)!

            China-Russia currency agreement further threatens U.S. dollar
            http://www.ibtimes.com/china-russia-currency-agreement-further-threatens-us-dollar-248338 – Cached
            China and Russia have agreed to allow their currencies to trade against each …

            China, Australia Reach Currency Deal – WSJ.com
            online.wsj.com/…/SB10001424127887323550604578409743048988874.html – Cached
            6 days ago … Australia and China agreed that starting Wednesday, the Australian dollar … to
            cut costs for local companies doing business in China, Australia’s biggest trading
            partner. …

            China Takes Another Stab At The Dollar, Launches Currency Swap …
            http://www.zerohedge.com/…/china-takes-another-stab-dollar-launches-currency-swap-line-france
            1 day ago … According to China Daily, as reported by Reuters, “France intends to set up a … ”
            The Bank of France has been working on ways to develop a RMB liquidity safety
            … As we pointed out a few days ago when we discussed the …. these currency
            deals have been going on….what i question is the feds and their …

            Perchance there is much more to this N Korea Hype than just N Korea? Perhaps it’s really a back door to war with China???

          • jc davis

            Troy: thanks. This is the straw that will brake the camels back.
            Esp.
            Meanwhile, China and Russia are gradually revolting against the U.S. dollar. This latest move to shift bilateral trade away from it is significant in itself because China-Russian trade — previously denominated in dollars — is currently around $40 billion per year. For Russia, trade with China is larger than trade with the U.S.

  3. Reader

    Perhaps a NEW TYPE of international Rhetoric has emerged…

  4. Henry

    I just read that Australia and China are going to start trading in the Yuan instead of the US dollar. Another blow to the USD as world reserve currency.

  5. Ugly

    With all of this going on and the USA losing its currency and even civil liberties; it really makes one want to work harder and pay more taxes?

    Work harder for what and for whom? I am beginning to think that walking, fishing, and spending time with family is where my extra time will be. Why pay more in taxes just to let the USA continue this stuff?

    Enjoy today. Tomorrow is a big unknown.

  6. g. johnson

    banksters arranging a war to deflect attention from the megathefts they are engaged in.
    no way a n. korean missle could penetrate our defenses unless they were allowed to.
    new 9-11 anyone?

    • Robert E. Salt

      I agree with g. johnson. Kim Jung Un is acting like a cornered rat. This is a case of history repeating itself. He is being provoked just like Japan was prior to Pearl Harbor. This is more dangerous, however, because the U.S. military didn’t have a squadron of Japanese planes to bomb Pearl Harbor, but they have missiles to attack an American city.

    • droidX-G

      No way? That would make our system perfect. I am not buying that

  7. bob d

    I read China trades US Treasury bonds for Russian oil. Then Russia will pay off debt with said bonds to British oil control of Russian oil lease. These US bond can’t be turn down as payment by international law. Clever move if true.

    • Greg

      That’s what my Jim Willie says too. Check out his interview from earlier this week.

  8. phil

    Good video Greg, as ever. May have been too late for your video deadline but here is an emerging story from the EU
    Frits Bolkenstein, who was in 2004 an EU commisioner, has now started in Holland an action to get a referendum, with a view for Holland leaving the EU. By Dutch law he has the required 40,000 signatures, and now by law the quetion must be raised by the Dutch Parlement. Wow, big rats jumping ship in no uncertain ways. Keep you posted if you wish

    • Greg

      Phil,
      All I can say is the Western world’s finances are in a dire mess. It will crash we just don’t know when. Never hesitate to let us all know new information. Hard for me to stay on top of everything. I appreciate your help!!!
      Greg

  9. Chip

    Great wrap up Greg. Hard to keep up with this stuff but apparently Draghi is now demanding that Cyprus sell her gold…

    http://www.zerohedge.com/news/2013-04-12/mario-draghi-orders-cyprus-sell-gold-cover-bailout-shortfall

    Also, you see the great smack down on gold today? Wow! dynamic times we are living…

    • Greg

      Chip,
      I see the smack down as a act of desperation and a way to acquire gold. Large outflows were reported at COMEX this week–surprise gold gets wacked!! As the price goes down look for supplies to dry up and commissions per bar or coin soar. The rich are buying–after all gold and silver are on sale!!!
      People should think possession and forget about price. Thank you for weighing in here.
      Greg

      • Chip

        I agree with you. Saw an article on King World News. Article claims that over 500 tons of paper gold were sold today and that was the driver for the move down in price…

        http://kingworldnews.com/kingworldnews/King_World_News.html

      • jc davis

        Greg My hope is they smack it 10 time as much…maybe I will buy me a real dollar in GOLD.LOL not likely to drop that low. Hey brother Greg. have fun this weekend!

  10. Brian

    Given that a carousel of monopolists and criminals have been taking turns steering, influencing and out right controlling our corrupt and broken government for longer than I have been alive, I’d say anything is possible at this point.

    Bad things just get worse until something monumental is done to correct things……………

  11. Albert tesla

    I have been very intensely follow the events in the Korean Peninsula and alot of it to me seems so inconsistent. If Kim Jon Un has been taught since birth really how to lead, then he should be well informed on how military strategies work, and I feel like a golden rule in war is never expose what weapons you have available to you, always move in silence and strike quickly and quietly… If anyone here has read the classic art of war you would understand my point, his openness with his plans are just way to oddly loud. I feel like this is all being orchestrated, someone has a mass scheme set up for NK that is going to perhaps effect the entire world. All thought we may never no the true politics behind it all, just know this, the person who benefits the most is usually the conducter 🙂

    Greg when you say you have smartest people on the web here i wouldnt doubt it. That should be your slogan haha. Honestly I could see high ranking politicians reading viewers comments here and then running to their superiors claiming to have come up with what someone wrote on here. This is the 1st website that I enjoy reading viewers comments!

    God bless the watchdogggg

    • Greg

      Albert,
      It is not hard to see the folks here are smart, inquisitive and some I know are connected but don’t reveal it. Happy you are one of the commenters and visitors to the site!!
      Greg

  12. Jerry LaBrue

    Thanks Greg for the great information. Here in Missouri we have a bit of news that may be of interest to you. It seems that Homeland Security has snuck into our state and lifted 158,000 concealed to carry license permit names from the Missouri Highway Patrol data bank. Our Lt. Governor (Peter Kinder) has been trying get an answer from DHS as to who requested this information. So far he has been stonewalled. Here we go. State licenses being lifted by the Feds. For what reason?

    • Greg

      I saw that Jerry and it makes me sad and I think it is very creepy. 185,000 concealed carry permits in the Show Me state. That info should not be given out. Why to the Feds need it anyway. Not a single atrocity was committed by someone with a concealed carry permit.

      • jc davis

        Its like what Troy and many others are saying. We have a secret government running the establishment. The oldest form of governing. wiki
        Oligarchy.

  13. George

    Greg,
    There is NOTHING in the news from Cyprus about runs on the banks. But there IS evidence that there is a run on the banks. Cyprus stole DOUBLE the amount they were REQUIRED to steal from the people. Less than two weeks later they need another 6 billion euros. Ergo, there must be a bank run. I read where the people in Cyprus were supposedly leaving there money in the banks as a vote for their county. Problem is only a stupid person would do this when the banks are accelerating toward collapse. The rules have been set up to steal as much as possible by way of capital controls.
    An article in the UK Telegraph, ” tucked away in clause 29. “Sale of excess gold reserves: The Cypriot authorities have committed to sell the excess amount of gold reserves owned by the Republic. This is estimated to generate one-off revenues to the state of €400m via an extraordinary payout of central bank profits.” Can someone explain how there can be any profits to payout when a bank is insolvent and steals 1/2 of the deposits?

    • Greg

      Geroge,
      I think they new what it was really going to cost and lied about it because they don’t want to start an panic. This smells of desperation. Thank you George.

  14. Iago Yugo

    Notice ALL media attention is on NK. It is a purely purposeful diversionary tactic on Obamas media machine’s part to rend attention away from this country’s continuing financial mismanagement by an administration that, between it’s cabinet experience, doesn’t have the qualifications to run a candy store.

    NK has been threatening the US day-in-and-day-out for the past 60 years! All of the sudden Obama’s media propagandists type up every word! C.mon, greg, you’re as big a fool as the rest of the kool-aid drinkers, to fall for this crap!

    Stay focused on the gov’t financial malaise. You’ll soon see the ONLY jobs Obama can come up with is oil-frakking the hell out of the mid-west.

    The falling dollar is good for those who buy precious metals. and because you can’t buy silver with foodstamps, thats where the trouble is brewing. HS is buying all the bullets to shoot unemplyed foodstampers who are DEMANDING raises in the (un)entitlements..

    • Greg

      Iago Yugo,
      this is a nuclear armed country making threats like never before. We are in turn making threats like never before. A war can be started by accident and only a fool would not take the possibility of this threat seriously.

  15. Mike R

    Anyone watching Gold and Silver prices this evening ? Its 10:58 CST, and gold is now around $1441.

    Suffice it to say, ETF’s like GLD,SLV, and then funds like GDX, GDXJ are going to get hammered at the open tomorrow.

    Most local shops that sell gold or silver, don’t have much on hand, or can’t get any. That was just this past Friday, so imagine what it’ll be like this week.

    If there is a run right now, on anything, its the physical metals. Also a massive silver mine, had a landslide. Kennecott. So they are saying thats 5 millions ounces of annual silver production off line now for months, if not more than a year.

    As the prices keep dropping, I’m just accumulating, and converting more and more of my FRN’s, into hard metals. Its sort of surreal watching all the commentaries from the so called “experts” say why metals are declining (‘great economy’) to (‘precious metal bear market ensuing’) while this paper raid by JPM, and GS, is really amounting to anyone who held paper, now wanting the physical. One of these days, the paper price of gold, is going to have to disconnect from the real physical value of the metal, if this continues. Demand for physical is probably going to overwhelm the system soon. Word out of china, is that they are in serious economic trouble too, and so you can imagine all the citizens there trying to buy as much as they can, while their government is probably on overload accumulating from every mine they can find in the world that’s willing to sell direct. Their own mined supplies must be going straight to vaults.

    This is a wild ass guess, but this run on the metals is likely a pre-cursor to a massive run on banks here in the US, if not worldwide in the EU and Japan.

    Why anyone would have much money in a bank paying next to zero, or even in a 401k, is just beyond me.

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