Weekly News Wrap-Up 4.20.12

By Greg Hunter’s USAWatchdog.com 

Talks, last weekend, in Turkey over Iran’s nuclear program have produced yet another round of discussions in Iraq scheduled for about this time next month.  The West wants Iran to stop enriching uranium and shut down its not-so-secret underground facility.  Nothing but a new round of talks May 23rd has been agreed upon.  Israel is not included in the negotiations but said that Iran got a “freebie” in that Iran is free to enrich uranium without a single concession.  Negotiators are the U.S., Germany, France, Britain, China and Russia.

The so-called “recovery” story is constantly being pushed by the mainstream media.  The latest sign the “recovery” is not really a recovery comes from the housing sector.  An unexpected 2.6% drop in existing home sales threw cold water on the recovery story.  At bet, the recovery is uneven, but that’s what you get when you bail out Wall Street with printed money, mass layoffs and government sanctioned accounting fraud.  Companies can value assets at whatever they think they can get for them in the future so depreciated assets look pretty good on paper, and there’s no stopping bonuses because of fantasy accounting.

The EU debt crisis just went from bad to worse with news Spain is in deep trouble, and so is Italy.  Could this be the one, two knockout punch for European banks?  One fund manager says central banks will print money for bailouts, but there will still be bankruptcies and panic coming soon.  He predicts gold will go higher?  Greg Hunter of USAWatchdog.com gives his analysis on these stories and more in the Weekly-News Wrap-Up.

Comments
  1. Art Barnes

    Greg, Israel was right, a pass again for Iran. The “continuance” if you will was for the benefit of the O’bama Administration who wants to get this crisis pass or near the U.S. election. At that point, the Administration can use it and get a hot “wag the dog” war started if it needs to in a pinch, or, if not, argue containment by peace through strength works as a campaign issue.

    It will be interesting to watch how the bankers, Wall Street & the MSM spin Spain as not that big of a economy and therefore no sky is falling as they print, print, & print Spain into $50.00 for a loaf of bread.

    Thank you for your work.

    • Greg

      Thank you Art. Very dangerous situation right now in the ME.
      Greg

  2. Lulu

    Greg,
    Thanks again for sharing your wisdom!
    I have excellent credit. Should I be concerned having my home mortgage with Bank of America? If so, do you have any tips on how to safely refinance with a safer bank….if there is such a thing?

    • Greg

      Lulu,
      I would only refinance with a local bank that will hold the promissory note. In other words not sell your loan or package it into a mortgage-backed security.
      Greg

  3. j. bradbury

    I have been following you for about a year now, and have enjoyed your site the whole time. I love your “Top Stories” section and continue to find article that blow me away.

    • Greg

      Thank you j. bradbury.
      Greg

  4. This guy

    Greg…
    Great work, as always!
    Corporate America claiming value on what they THINK they can get for assets, and then adding that supposed value to their bottom line; isn’t that exactly what Enron did? Not to be naive, but I thought that practice was illegal?
    All the best!

    • Greg

      This Guy,
      This is Enron on acid!!
      Greg

  5. M SMITH

    Greg, each day we feel/see/hear/watch the results/reactions to the actions of past & our present policy makers. It has become very ugly world for billions world wide & no bed of roses for millions of americans. Re-inventing the wheel(constitution) has lead politicans to think they are privileged, above the laws of GOD & of men. Inside the thousands of government agencies corruption has become normalcy, take it, do it, you either use our propaganda tool to ensure funds flow to keep our life styles or we target you via all of tools they invented & we use to carry on this deception on the american people.

    I found this quote and I think it’s worth sharing, it’s talking about us shrimps surviving the coming storm.
    “….it is best that you work to actively establish your desired gold position without undue delay, and then with peace of mind you can turn your full attention to the business of living your life as it was meant to be. Spending significantly further time obsessing over currencies and investment is a fool’s errand”

    Being under the weather makes time to find such good advise, on late Sunday afternoon!

    • Greg

      Thank you M Smith. This feels like a slow motion train wreck. I am waiting fore someone to flip a switch and turn it to real speed.
      Greg

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