Weekly News Wrap-Up 5.16.14

4Greg Hunter’s USAWatchdog.com

Numerous wildfires are engulfing parts of California.  In one county alone, in the southern part of the state, fire has burned nearly 10,000 acres.  Some lifelong residents say they have never seen it this bad.  Think this won’t affect you if you live elsewhere?  Think again.  This is really the side effect of a much bigger problem—extreme drought in the western part of the U.S.  From Texas to California, at least 10 states are dealing with some form of drought.  Some of the worst areas are in food growing regions.  If you have been to the grocery store recently, you know food prices are vaulting higher.  This drought is only going to make matters much worse, and please keep in mind, it’s still spring. 

The civil war in Ukraine is still going full force, and there is no resolution in sight.  Now, headlines say “East Ukraine Claims Independence.”  This means the sanction game between the U.S. and Russia will continue to ratchet upward.  There may or may not become a global shooting war over the Ukraine crisis, but a global economic war is very much game on.  Remember, Jim Rogers said recently on a USAWatchdog.com interview that sanctions probably will not hurt Russia and might even backfire and hurt the U.S.?  Another headline in USA Today, this week, says “Sanctions against Russia take toll—on U.S. companies.”  Some of the companies doing business named in the article are John Deere, McDonald’s and Master Card.  I would like to think this is some well thought out master plan that will benefit the U.S. economy, but I am repeatedly seeing signs this is a stupid clumsy NOT well thought out plan.  The economy officially grew at a paltry .1% in the first quarter.  Folks like Dr. Paul Craig Roberts say the growth was negative if you accurately factored in true inflation, and he’s predicting growth will turn negative in the months ahead.  On top of that, it was reported that Russia held a “de-dollarize” meeting with China and Iran.  In plain English, it wants the world to stop using the U.S. dollar to settle trade internationally. 

The latest policy blunder by the Obama Administration is the release of 36,000 illegal immigrants that were convicted of crimes like murder, rape, child molestation, drunk driving and domestic abuse.  Yes, I said convicted!  Once again, the Obama Administration is not talking about why they did this.  Don’t hold your breath for the folks in the mainstream media (MSM) to get some answers.   They don’t think this much of a story—until one of their loved ones is murdered by one of these released convicts.  

I would not normally cover something like former Treasury Secretary Tim Geithner’s new book called “Street Test,” but USA Today’s coverage of the book just about requires me to do it.  Please keep in mind, before Geithner was in charge of the Treasury Department, he was the head of the New York Federal Reserve.  He was responsible for regulating the big banks leading up to the 2008 meltdown.  Geithner’s lack of regulation over the big Wall Street Banks helped cause the meltdown, and yet no mention of that in this article.  USA Today acts as if this was a total surprise and Geithner saved the day!  Listen to this quote: “The crisis that began in 2007 was unprecedented in many ways, and Geithner and other policy makers were uncertain what was happening and what their response would be.”  The New York Fed watched as the big banks were leveraging up 40 or 50 to one, while millions of liar loans were packaged into AAA rates securities, and they didn’t know “what was happening.”  If this isn’t the mainstream media covering for the big banks and the Fed, I don’t know want is.  Of course, I am sure Gannett having banking relationships and shareholder relationships with JP Morgan and Goldman Sachs has nothing to do with the positive coverage.  Geithner said in the article, “I never found an effective way to explain to the public what we were doing and why.”  Hey, Mr. Geithner, let me take a shot at explaining what you did and why.  You bailed out massive fraud to help out a chosen few of your rich banker buddies, and nobody was held accountable.  Not a single big banker has been prosecuted, and nothing is fixed.  They just bought some time, and that appears to running out.  You got to wonder why even the USDA is now reportedly putting in orders to buy machine guns.  Does that sound like our leaders think the economy is going to improve? 

Speaking of fraud, details of the Bernie Madoff $60 billion Ponzi scheme keep coming out.  Now, it’s reported the fraud stretched globally and that the only places not affected were the “Gobi Desert and the polar ice caps.”  The bankers a JP Morgan reportedly paid a total of $2.5 billion in fines and restitution to avoid criminal charges.  Granted, this is a small piece in the fraud puzzle, but let me leave you with this overarching point.  The global economy was brought down by reckless fraud.  Nothing is fixed.  Now, fraud is continuing to prop it up.  There is manipulation and price rigging in all markets.  Interest rates, commodities, stocks, real estate are all manipulated and rigged in one big fraud-fest.  One thing I learned as an investigative reporter and that is frauds end quickly.  It all works until one day it doesn’t.  Look at how fast Bernie Madoff crashed.  It’s like the line out of the Forest Gump movie, “And then one day it was over, just like that.”  Be prepared. 

Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.

Comments
  1. Jeff

    Greg, really appreciate your insightful commentary. You just about covered it all…… I would like to add that it seems like everything is coming to a head……Our economy has been rolling over for some time. The backbone consumer is pulling back despite the ever rising market. Our enemies know our vulnerabilities and any number of black swans can happen on any given day……Not to be depressing but once the stock market rolls over the consumer will pull back and the dominos will really begin to fall……. We really are one market crash away from the inevitable….Russia and China know that.

    • Greg Hunter

      Yes sir Jeff, time seems to be getting shorter. As Dr. Jim Willie has said the interval for failure is decreasing.
      Greg

      • wd

        Hi Greg, Great wrap up. Some other news.

        Sears will be closing more stores, maybe completely gone in2 years and bring Kmart with it.

        Also Stein Mart department stores, a higher end discount store located in states along south to California, 50% of there stores are showing sales in the red (a manger for one of the stores who I used to shop with told me this-no reason to doubt him)

        Walmart and Target off….
        Retail is imploding….

    • allen ols

      Jeff;

      ……. At that point you crash…….kwn.com
      “Because at that stage the Fed has no choice but to begin raising interest rates — perhaps very quickly depending on how fast the monetary horse is leaving the barn. At that stage everything goes into reverse and the Fed has to tighten by actually raising interest rates.
      That will totally destabilize the system because what has kept everything lubricated to date and allowed this stable disequilibrium to persist is that an enormous stock of debt in the system, including $1 quadrillion (1000 trillion)of credit-sensitive derivatives, that can remain afloat only as long as interest rates are artificially suppressed.
      What people need to look for is any sign that the current closed loop becomes less closed. In other words, as we get leakage into the real economy from this closed loop of a tight-knit financial economy, this is the beginning of the end. This is the stage at which the Fed really has no alternative but to stop what they’ve been doing, which has been the only reason things have been propped up to date.
      We’ve been at this extraordinary quantitative easing for so long that many people have probably forgotten that it is extraordinary — this is not normal. As we revert to normality, the Fed will also have to revert to normal policies, and at that point we begin the process of normalization of interest rates.
      And given the stock of debt in the world, as that debt gets repriced and has to be serviced at anything close to normal interest rates, the system itself again will go into shock as it did in 2008. That quantity of debt, including $1 quadrillion derivatives, simply cannot be serviced at normal interest rates.
      So basically you have to look for what will make it unstable. At that point you crash. And this time when you crash there is simply no way out. It will be worse than the 1930s because the governments themselves are insolvent. …We have a scenario that essentially invites an apocalypse, and this (apocalypse) could happen very quickly.”

      http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/5/16_Were_Headed_For_An_Apocalypse_-_A_Financial_Armageddon.html

  2. The Heart

    Greg,

    Always good to hear your regular truth reporting. A path that always leads to success.

    A question for you. Did the babylonians start the fires in California to take the attention off the growing awakening around Benghazi, and the corruptions of this babylonian govt?

    Moar distractions?

    Someone is scrambling nervous eggs because the fires of truth are really heating up.

    Pray for justice and sanity to find their way through the milky hazes of ignorance, and corruptionism.

    Big giant blessing on ya, Good One!

    • Greg Hunter

      Heart,
      I have no source for that. The fact remains is it is extremely dry and it’s been going on out West for a long time. Fires are a side effect of drought. Thank you for your comment and support.
      Greg

      • Edward Ulysses Cate

        As reported, some of those brush fires were started by teen sociopaths. The financial fires were started by adult sociopaths. Most of these things are NOT caused by nature.

      • The Heart

        Sorry Greg,

        Forgot to attach this link that spurred the comment.

        http://www.youtube.com/watch?v=mRCm0CP1xIc

        Everybody knows the heat is on this criminal administration for all the scamery and corruption. It is very likly that more distractions from the crashing economy are forthcoming real soon, to include a possible false flag event to kick the bee hive over for good.

        Martial Law is the plan. Ash-ka-Nazi germany 2.o. Everybody also knows what happened to the last nazi germany the globalist banksters created.

        Thank you for your comment on this.

        • emeniag

          Heart,_____ There was a leak just recently at the Pentagon called the Zombie-Apocalypse, everybody laughed and thought it was funny. The truth be told they are preparing for something big and are covering all possibilities. And Greg thanks for preparing us for a worst case scenario, were it wont even be safe for Zomboids!

  3. Colin - 'the farmer from NZ'

    Thanks for another great week of reporting Greg.

    Armstrong certainly wound some of us up, but that has a good side as it promotes lively discussion amongst all. It could become ever so dull if we all agreed with 100% of everything said by each and every guest.

    The situation in the Ukraine is becoming one of the more shameful and tragic episodes of all time in the history US foreign affairs meddling. The financial cost of this to US companies is likely to be huge and permanent especially to the likes of Master Card and Visa. Customers of these companies will find alternative services and never ever move back. This is however completely minor though when compared to the inevitable global mass exodus away from US $ denominated trade deals. The Obama regime’s reckless hypocritical blundering, almost defies belief.

    Many of you probably find it a bit tedious when I am always banging on about the Fed. But……
    I cannot help thinking that a whole lot of the worst aspects of the US and global economy so often trace directly back to this inexcusably bad model. It is puzzling to me to see how little discussion goes on about the Fed and how it should be dissolved. I understand that many are afraid to speak out against this all powerful and evil institution but there is also terrible danger and continuing financial havoc to be had by allowing it to continue. I maintain that it is a waste of time and effort to try to mend anything financially in the US until such time as the Fed is completely dismembered. I grew up in awe of the US and its economy but I have to say that this admiration is diminishing at an alarming pace. It is very frustrating for me to see that the root cause of most of the financial decline in the US is painfully obvious, but it is not being addressed.

    Have a great weekend Greg.
    Cheers
    Col

    • Greg Hunter

      Col,
      I thought the points Armstrong made about the rich being “scared” and how they were moving their money “out of the banks” was priceless information. Thank you for your comments and involvement in this site.
      Greg

    • The Heart

      Brother Colin,

      You said: “The Obama regime’s reckless hypocritical blundering, almost defies belief.”

      He is a puppet playing his planned part perfectly. He is way low on the chain of command.

      And you said: “It is very frustrating for me to see that the root cause of most of the financial decline in the US is painfully obvious, but it is not being addressed.”

      Do you know Alfalfa is a weed? Animals love it and it is good food for THEM. When you whack the branches, it always grows back. Year after year. If you want to rid it from say, a garden, you have to dig deep and really scrounge up the dirt deeply to get it all out. Speaking from today’s real experiences doing this very thing in the strawberry patch, it is a real son-of-a-gun to do. It takes real work, and real consciousness so you do not injure the strawberry plants it is strewn, webbed, and entangled through. The Alfalfa will strangle the strawberries to death eventually.

      Sound familiar?

      What you should understand sir, is the fed, the obama puppet regime, and all the rest of the kow-towers to the god money are all only slaves and dupes to the real owners and roots of the huge world problems. The ones who profit from world wars are the IMF/WBanksters, the major family being the rothschilds in heavy association with the rocofellers. These groups are the root causes as you refer to, and to end the tyranny and insanity of wars for profits and population elimination agendas, they all must be dug out and rid from the earth garden forever if the world is to survive. The third world war they have long planned and created isreal to start, will be the last war alright, but after that, no one will be left to write the history of the once beautiful blue water planet. The putin and the obama are both part of the bankster plans and the losers will be 99% of the world’s people as they play them like chess pieces against each other. The whole darn shootin match is just stupid and why so many would be willing to die for these profiteering zionist bankster cretins from hell, is also just stupid.

      The one absolute answer to stopping the insanity of the war mongers for profit that want to start the war to cover up the crashing economy, all as planned of course, is to take the banksters out of the game. The minions will follow the money god back to hell after that.

      Try to imagine a world with no war at all, every country independant, and all freely trading in abundance and prosperity for the rest of earths time. The evil that uses money to control the world will be no moar.

      • Galaxy 500

        Obama is too there n skinned and vain to be a puppet bit it makes for another good conspiracy theory. Just like the one circulating in the Weimar republic during its quick decline. Then as now some of what he favor targets were the Jews

        • Galaxy 500

          Damn, I’d be better off not using the auto spell checker/suggester
          “Obama is too there n skinned and vain to be a puppet bit it ” should read as
          Obama is too thin skinned and vain to be anybody’s puppet but it makes for a good conspiracy

    • Galaxy 500

      Colin
      Yes, we are aware up here how badly we are being screwed over by our government and federal reserve.
      Tell us about the central bank in the great country of New Zealand. Who prints the currency and what backs it up? Who decides to print more money and who decides to increase the amount of credit in the country?
      Love to hear how you guys do it down there

      • Colin - 'the farmer from NZ'

        Hi G500
        Well this is going to take a bit of space answering these very good questions so I probably won’t get this all done in one post.
        Please don’t think I am picking on the US model because I consider myself on some moral high ground. And get this straight – I don’t think our’s is a crash hot model either – far from it. My view is that the whole central banking system of the world is rotten to the core.
        However to start with our NZ central bank is NOT owned by a private banking cartel – it is indeed 100% Govt owned. It is not a Govt department but a body corporate and its finances are included in the Crown accounts. My view is however that the remainder of the model and the way it interacts with the central banks of the world leaves an awful lot to be desired.
        We are a tiny economy and can only boast about one industry of any consequence. i.e. the dairy industry. We are not the largest dairy producer in the world but we are the biggest player in terms of traded dairy produce. We too as a country have huge total debt and as I have stated in previous posts I don’t agree with quoting total debt/GDP ratios as a measure of how deep a country is in the shite. NZ is not a vast consumer economy like the US but although our current account is not a disaster it wouldn’t take much of a downturn in our main commodity prices for us to be looking a bit like Greece or Portugal.
        Our NZ$ is a Fiat currency and based on fractional reserve banking but the size of our economy and the obvious fact that we are not a world reserve currency makes the effects of QE or money printing entirely different. NZ can’t export much of the inflationary effects of our QE overseas as the US has been able to. I view the “privilege” of a nation gaining reserve currency status as a very dangerous situation. With completely reckless behavior from two successive regimes [Bush followed by Obama] the US has been able to borrow more money than all the combined previous Govts in the history of the US. This scenario could only happen on this scale in a situation where a country had RCS to begin with. With the wrong leadership RCS can foster extremely bad behavior by the encumberant country and quickly lead to financial ruin.

        As I understand it the fundamental reason that countries have central banks is to isolate monetary policy away from the hands of Govts of the day and and to put it under the control of an ‘independent expert’ group of people to responsibly manage the currency, the money supply and interest rates to certain defined criteria. I am not sure if the FED fits any of this description.

        So to answer your questions directly:
        #1 In NZ the reserve bank has the sole right of issuing currency.
        #2 Probably 3 parts of buggerall. Fiat I think means “it is what it is”
        #3 I suppose the NZ central bank does – but I am still trying to get to the bottom of this one. To Joe Blow like me much of the mechanism is to say the least somewhat shrouded in mystery. I am personally making a private study of central banking systems in different countries of the world and believe it or not I’m finding it quite fascinating. However by far the most ridiculous discovery I have made is finding out about the ownership of the FED. Crikey I keep coming back to that don’t I. No one believes me down here when I tell them who owns the FED!
        #4 So in a nut-shell pretty much all monetary policy is decided by our reserve bank, its just that it isn’t privately owned.

        Please don’t put too much store on how we do things down here – IMHO our model is a long way from being good. If I was looking for an international model on how a country should deal with financial crises it would be Iceland. For an awesome local cooperative banking model I think the one in South Dakota is a perfect example of a system that can transform a state’s economy and at the very same time disenfranchise the banking cartels. Not everyone agrees with me but it is my view that crypto currencies have huge potential to also take much of the transactional banking away from these evil corporations.

        Remember I am a beef farmer not an expert in economics. My views are based solely on the experience of running a small struggling business for 40 years. I post not to criticize but merely to give another perspective from afar that I hope could in some small way foster some discussion that might help solve the immense financial mess in the US. I have huge empathy for the financial plight of the man in the street and the man down on the farm [ I know quite a few beef breeders there personally as my business takes me to the US from time to time in search of genetics]. I have particular sympathy also for the retired and the young that through no fault of there own inherit this gigantic mess. I also hope that I will live to see the day that the people responsible for this situation, in Govt and in banking will be brought to justice.

        Cheers
        Col
        By the way G500 I very much enjoy your input on watchdog.
        You challenge us at times and provoke positive thought and discussion – thats great.

  4. Rik

    Greg, ….thanks for another insightful week of news and events ,I’ve been following sites like this and others for years, like, ZH, Market Oracle , Jim Willie, Shadow stats, and a great deal of others on line and then follow whats on the MSM , its like living in a parallel universe. Its very strange to have everybody around me not seeing the things i do. Sometimes i wonder if I’m the one thats going insane or is it really the world around me. I find it frustrating not to be able to share with any friends or family around me, about the truth and how the world really works, sometimes i wish i was ignorant and living in a more blissful state.
    But then i read the latest goings on like the Ukraine situation and hearing the Victoria Nuland recordings and sifting thru all the propaganda and seeing all the lies.
    NO, better to be awake then asleep, thanks again…. to be able to come to a site like this I’m glad that you r here.

    Keep up the good work .. ……… good will over come evil as long as there is vigilance.

    Rik

    • Greg Hunter

      Rik,
      I worked at five TV stations and two networks as an investigative reporter for most of my professional life. I don’t claim to know it all but I do know how to source a story. I can assure you the MSM is lying by omission at the very least. This is not an “if” the economy will crash, but a “when,” it will crash. I am not talking about for the kids and grand kids either. It is for us in the here and now. Thank you for your comment and support and don’t stop preparing.
      Greg

  5. Andrew de Berry (Rev)

    Bless you Greg. Your observations are just invaluable! Andrew

    • Greg Hunter

      Thank you Rev!! My God bless you and yours and give you divine protection and guidance.
      Greg

  6. woody188

    Excellent article Greg. Your frustrations are shared with many worldwide.

    A small request, with the recent uptick in climate change hysteria, was wondering your take on the subject and if you would have any interest in bringing to light some of the 30,000+ scientist’s opinions that do not agree with the alleged warming consensus.

    Anecdotal evidence seems to point to a cooling trend. The mainstream media totally ignores this, preferring to hype the warming nonsense. It would seem they hope to claim a piece of the trillion dollar carbon credit market. So while science isn’t necessarily your forte, the subject does dovetail with your typical market related news as their fix to the problem is to carbon tax us via Wall Street.

    Keep up the great work!

  7. art barnes

    Greg, the west is in its 13 year of below normal rainfall & 20 years is termed a mega-drought, only twice seen in the West the last 2,000 years by tree ring scientist, the last being the middle ages. I’m glad you discussing it because the MSM is mostly in denial as well as local counties & cities, only a small few have started usage restrictions. Many reservoirs from Eastern Oklahoma to California may never fill again in our lifetime, its that bad, thank you for your coverage. Love your word “overarching”, never heard it before, but I’ve heard of the “quick fall” theory of fraud or whenever ever evil deeds is finally outed. Thank you for your passion as you know I’m being around your site for quite sometime and it seems its ratcheting up. Lastly, USDA buying arms, wow, that’s food for thought. Have a nice weekend.

    • Greg Hunter

      Thank you Art. I knew it was very bad but you have defined nicely just how bad.
      Greg

  8. Galaxy 500

    USDA wants 40S&W machine guns? Are mad cows really that big a problem?

    • Anne Elliott

      Perhaps it’s not a mad cow problem… Perhaps it is all those milk cows that have stopped giving milk and are have now turned into beef cows…

      • Galaxy 500

        If thats the case, lets buy barbecue grills instead of submachine guns

  9. Galaxy 500

    Massive fraud…isnt that the banker’s current business model?

    • Greg Hunter

      500,
      B I N G O!!! Thank you man!!
      Greg

  10. David

    Greg, I love the cartoons you have on Fridays. Keep up your exceptional reporting–I regularly listen to your interviews.

    • Greg Hunter

      T.hank you David.
      Greg

  11. Bruce

    Greg-
    Thanks for all of your hard work. I am a regular viewer / reader of yours, I try to vist your site evry Sunday Wednesday and Friday. Well it looks as if your analysis nails it again this Friday 5/16/14.
    One thing that is a little disconserting however is your lack of comment on Operation American Spring march, happening today, 5/16/14. As I remember you yourself saying, “Lie by omission”……
    Well your lack of reporting, or even mentioning of this is very concerning.

    • Greg Hunter

      Bruce,
      I do not want to be seen as a political proponent but an objective reporter. I have allowed multiple comments about “Operation American Spring” and I have not omitted a single one.
      Greg

    • Galaxy 500

      Dude
      since Greg didnt report on Operation American Spring, please allow me. Reports are that it was a crappie turn out. A few hundred at worst and a few thousand at best. A far cry from the millions that were predicted to show. While i agree with the sentiment of the group, it looks like it was poorly executed and plagued with problems.

  12. brian

    Fraud and corruption behave a lot like a fire, once they reach a point that they can no longer be contained they will simply burn until there is nothing left to burn.

    • Dwain

      Just wait. When SHTF and slop troughs start running dry, I think we will see those millions turn out for operation American Spring.

  13. vincentg

    The President was asked how come no one was arrested.
    His answer was no one broke any laws.

    Going back to Bill Clinton and maybe even Bush 1 laws pertaining to Banking and Wall Street were being changed.

    A bank during the time Clinton was president bought an insurance company which was against the law – outcome the Gramm-Leach-Bliley Act in November 1999

    After all, he who prints the money is the law.
    I think Mayer Amschel Rothschild made that quite clear long ago.

    • Greg Hunter

      Vincentg,
      The President is wrong on the facts and wrong on the law. Let me simply outline a few the many frauds. The banks sold “liar loans,” and then packaged them into securities. The were sold as AAA and equal to Treasury bonds. These “securities” turned “toxic” and when it all blew up, the bankers engaged in foreclosure fraud which included forgery, perjury and fraud on the court. LIBOR rate rigging is a global fraud in the hundreds of trillions of dollars in interest rates. Laundering money for drug cartels and terrorists is fraud and treason. Bernie Madoff is probably the simplest fraud to prove, and top bankers at JP Morgan simply paid a fine to avoid criminal charges. Madoff once stated that the “entire U.S. economy is a fraud.” He got that right and Madoff knows that all frauds end quickly.
      Greg

  14. Chip

    Great wrap up Greg. Events are accelerating around the globe for sure and not in a good way. So many people I talk to are completely clueless it just doesn’t make any sense to me. The main stream media is one giant propaganda tool of the government. Pull up Yahoo and there are stories about JZ and Briana, Hollywood stars, and National Enquirer type stories. Not one spec of true journalism. You are part of a dying breed my friend. Best of luck and have a good weekend…

  15. Beligerant

    Greg, good wrap up. The points which PCR made that seemed to resonate were:

    Rising Stock Market – Great, Fantastic!
    Rising Home Prices – Great, Awesome!
    Rising Middle Class Wages – Bad, Terrible, Horrible! Lets keep those wages stagnant.

    To have rapidly rising house prices you must have rapidly rising middle class wages!

    Its been pointed out by Gerald Celente and others they rig the CPI to show almost no inflation so the middle and blue collar workers receive little if any cost-of-living pay raises. After 20 years of this, the Lame Stream Media just can’t seem to figure out why the middle class has collapsed. Amazing?!

    We can only assume the latest round of protests by the fast food industry is just the tip of the iceberg. Its quite a statement even with the burger flippers are beginning to complain rather loudly.

    • Greg Hunter

      Good points Beligerant. Thank you for making them here.
      Greg

  16. mohammad

    Greg,

    I got goose bumps when you said that the admin had released 36000 illegal convicted felons.
    Here is why:

    Today is supposed to be the date for American Spring gathering that demands the ousting of Obama in Washington D.C. How much of that is going to materialize i do not know but certainly it is supposed to be credible when Fabian Calvo talks about it.

    IN SYRIA, march 2011 was the start of “Syrian Spring” and we were shocked then when first thing Assad did was the RELEASE of fierce prisoners!!!!!!
    Am almost sure that 36000 felons are not going to affect nor tip any results of elections!!
    So why the hell did he release them NOW?

  17. Diane Ryan

    Greg, thank you for another excellent weekly wrap-up. As our financial system goes, so goes civility. Dark days lie ahead.
    Here in Pacific Northwest, many ‘get it’. In addition to common preparations, our focus is two-fold: 1. Strengthening our spirituality, and 2. Strengthening our camaraderie.

    • Greg Hunter

      Diane Ryan,
      May the Good Lord help us all because we are going to need it. I pray everyday for Divine protection, Divine guidance and Divine healing. Thank you for your involvement in this site.
      Greg

      • The Heart

        Ding…ding…ding!

        +

  18. Larry

    Greg, great summation of the weeks activities. Their will come a day when your summation will be very brief and direct. “Stick a fork in us we are all done”.

  19. Jerry

    Greg, I loved your cartoon caption. It ‘s very fitting.
    Can you believe that we had a 0.1% GDP first quarter with 0% interest rates? How is that even possible ? Here we are 5 years later after Trillions of dollars of QE printing, and massive amounts of Tarp funds borrowed to restart the economy, and this is what we have to show for it? If I hear one more person talk about the so-called recovery I’m going to scream. The economy is broken. The system is broken. And now as a result of monetary debasement from 5 years worth of QE printing our dollar will soon be broken.

    Greg I’m going to ask this question for the 50th time to some of your readers who seem to think we have an option. Here it is. How do we fund over 125 Trillion dollars in unfunded liabilities , with 2.5 Trillion per year in tax revenue? I’d really like to know?
    Thanks Greg for all you do. Have a good weekend.

    • Greg Hunter

      Jerry,
      You said, “Can you believe that we had a 0.1% GDP first quarter with 0% interest rates? How is that even possible?” If that doesn’t say the world is in deep, deep trouble I don’t know what does.
      Greg

    • Galaxy 500

      A large dairy producing milk and ice cream products announced it was closing. 100 people laid off. I keep hearing about a rebounding economy but all I read about are layoffs and “consolidation.”
      http://m.therepublic.com/view/story/85b9905a65354f34946247c79ff825b1/NC–Maola-Milk

    • Colin - 'the farmer from NZ'

      HI Jerry
      Don’t you worry buddy – I am working on this question of yours.
      I’ll come up with something any day now. mmmmmmm…….
      Oh no – hang on, wait up Jerry – I just had one hell of an idea.
      I don’t think it is original [ maybe it has been done before, i’m not sure]
      but here goes anyway and whats more the answer is just one word……
      DEFAULT!………yeah that should do it.
      I am but a dumb-arse farmer and I solved this enormous problem in what..
      about 2 minutes tops. You know I really am wasted down here growing cattle.
      I think I should be working in high places like the Fed or at least the US Treasury.
      How do you reckon I would get on with Janet?
      Cheers
      Col

      • Galaxy 500

        We should have let the banks default in 2008 and given the depositors their FDIC coverage and let the share holders and bond holders take the hit. We would be on the mend by now. As opposed to the way they did it where the surgery was a success but the patient (the economy) died.

      • Jerry

        Colin.
        You are the only one that got it right. That has been the administrations plan from the beginning. Now you know why they removed the ceiling.

  20. Jerry

    Greg do you remember awhile back I told you the Arab states were planning a backdoor deal with the Chinese to dump the dollar ? I wish I could tell you I had a crystal ball and could look into the future, but in reality this has been know for quite some time.

    http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html

    The only difference between now and then, that would cause them to act , is the emerging markets of China and the BRIC nations, coupled with the pushback from the dollar by the G20 nations. Oh, and did I mention that they are pumping 80% water out of their largest wells? Time is not on their side.

  21. Terra Tear

    On the “Federal” Reserve: A whopping 16 trillion dollars has been “loaned out” throughout the world in financial assistance to foreign banks and corporations from South Korea to Scotland according to a Fed audit. { no agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president} This figure only represents a part of what was uncovered as a full audit has never been allowed or permitted. Between 12/07 and 6/10 the “Federal” Reserve secretly bailed out world banks, corporations, and governments under the guise of all-inclusive loan programs. Virtually none of the money has been returned and it was loaned out at 0% interest. To put this in perspective, the entire GDP of the United States is only $14.12 trillion. The budget that is being debated so heavily in Congress is “only” $3.5 trillion. Swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing entities around the world… {note that u.s. ‘numbers’ change at will}

  22. smaulgld

    Greg

    Don’t worry about inflation- the Fed is on the job. Fed President Bullard says we will meet our inflation target! http://www.reuters.com/article/2014/05/16/us-usa-fed-bullard-idUSBREA4F0I520140516?feedType=RSS&feedName=GCA-Economy2010

    And don’t worry about inflation because there is none: NPR says its low and likely to stay there! http://www.npr.org/2014/05/15/312674256/why-inflation-is-low-and-likely-to-stay-there

  23. Eddie Laidler

    Watch for people buying food at present lower prices to hedge against higher prices later.
    This will tell you that people have woken up to the real inflation.
    I work for THE big fast food corporation in the world. You know which one.
    Things are not pretty and the franchisees are suffering.

    • smaulgld

      Good observation Eddie-that would create shortages and even higher prices.

      • Galaxy 500

        Colin,
        You wrote,”Please don’t think I am picking on the US model because I consider myself on some moral high ground.”
        Please dont think my questions are an indictment of your posts. In my opinion, you present things in a well written, rational factual manner which is why I asked how y’all did things down there.
        As far as our “independent experts” running the Federal Reserve,…I am sure that everyone but the paid govt trolls are rolling on the floor laughing hysterically over that…while this may have been true at one time (until Greenspan) they are little more than the banking cartel’s lackeys and at worst, conspiring directly against the people and our nation.
        As a side note, my neighbor raised blue ribbon bovine years ago but had problems monetizing them. Now he is a very successful as a contractor raising hogs for Smithfield.

        • Galaxy 500

          Not sure how this got down here

        • Colin ' the farmer from NZ '

          G500
          No worries – all good – I enjoy constructive debate.
          Discussion like this shows that Watchdog IS working.
          It fosters constructive and informed debate amongst a wise and diverse group of people from the four corners of the globe. Oh….. Thats right the world is no longer flat and a globe does not have corners – anyway you know what I mean.
          The knowledge we gain will empower us and facilitate much needed financial and political reform.
          Cheers
          Col

  24. rene

    have posted a number of comments, especially from the perspective of Canadian who was so committed to the American Dream back in the 60’s I requested a posting to serve in Vietnam as a Combat Engineer ( 2 tours)…….now I don’t even recognize the USA……..the threat is not overseas but inside of American borders……..Washington DC……makes Al Capone look like an office clerk…………good luck and keep up with informing the masses that secured their lives

  25. Jeff

    Greg I have to say, even though I read all the others I look forward to your site the most. Always clear and truthful……. But what really stands out are the commenters. An intelligent informed group that are humble and respectful. You rarely find that in the other sites…. As a previous poster stated, civility is hard to come by these days…..I know you are a good person so maybe you’re just attracting them.

    • Greg Hunter

      Jeff,
      I am blessed with some of the smartest kindest folks on the internet. I actually learn something every time I log on from the commenter. I have one friend that says her favorite part are the commenters-I have to agree. Thank you for being one of them.
      Greg

  26. Ted

    Greg,
    Great report.
    Ever considered these huge droughts caused by geo- engineering….ie chemtrails/ Harp?

    • Greg Hunter

      Ted,
      It very well could be but that is hard to source and prove. That said, the chemtrails are real and so is the HARP program. Weird evil stuff is going on that is for sure!
      Greg

      • Galaxy 500

        Greg
        We’ll have to agree to disagree on this being real. Ive seen the photos of these so called chem trails and its nothing. If these chefs could do something released at 35000 ft at 500 mph and you dropped them at 100 ft at 100 mph people would be dropping like flies due to toxicity…but lets not let facts get in the way of a really good conspiracy theory that keeps us from being focused on the criminals in the banks and in govt. Droughts come and go. The planet is a dynamic system not a static one. Change just like shiite, happens.

        • Galaxy 500

          Chefs=chems=chemicals

        • Greg Hunter

          500,
          Watch this and then tell me it’s a hoax: https://www.youtube.com/watch?v=c34U0Pwz4_c&feature=youtu.be
          Your buddy
          Greg

          • Galaxy 500

            Ive seen that before. The question I have for you is what do you think it is other than water vapor? And as many airlines that have been sued out of existence, you think they are going to be carrying a bunch of chemicals? And you think they can keep it secertly? And there is this neat program called Photoshop?
            Sorry my friend, I’m not buying the conspiracy flavor of the week.
            Not to worry, I dont think less of you. I just need so reasonable verifiable proof, not some guy with a Quege board and a video feed. I read all about this when some guy put up video feed of contrails on a plane landing. Just explain if they were toxic chemicals and they dumped it at the airport why we didnt have at east a few deaths? My explanation. ..i dont have to know exactly what it is to reject that its somehow a secert program dumping toxins in the air as I dont believe they could keep it secert. Just ask the NSA ( Snowden) and military ( Manning).
            You know me, the proverbial doubting Thomas.

          • The Heart

            Further:

            Jeff Rense picked up on what we knew might happen sometime early this year.

            Here are some links to check out, but the thought is around the possibility they are using the HAARP thingy to keep the biggest parts of the radiation from hitting the west coast.

            And indeed, according to our Geiger counter, an Inspector, the foods that are coming from the west coast do in fact have radiation them. It is higher than our normal back ground of around 55 CPM.(counts per minute)

            http://www.rense.com/general96/pacstorms.html

            Watch this map below pretty regular and you will see the cyclic movement of the air on the west coast. You can zoom and rotate and learn to master this map just for fun, but watch the west coast.:

            http://earth.nullschool.net/#2013/12/21/0900Z/wind/isobaric/850hPa/equirectangular

            One can ask, why would they do this? Could it be to protect the people? Maybe. Could it be more to protect the giant agribusiness on the entire west coast? Maybe yes, probably.

            What may be happening is a double whipsaw crackback on the situation because the resultant is the backfire of the negative effects that are causing the drought. Either way, radioactive food, or a drought and no food, seems one way loses money faster than another.

            The coming planned chaos includes massive shortages. This is the population elimination agenda at work.

            Just some pood to fonder.

        • brian

          “Geo-engineering” got an entry in the Oxford dictionary a few years ago, its being “debated” and “discussed” in various rags and white papers and public meetings, and those kicking the idea around publicly are the same dee-bags that told us the debate regarding anthropogenic climate change is over.

          Whenever something like this is “discussed” openly by the types “looking into” it it means that it has already been started on a small scale, too many people are starting to notice and it is time to start conditioning the public to accept things as if they simply always have been so.

          Just consider the way in which JSOC was hidden and then unveiled at a time when it was being exposed, oh yeah, JSOC has been around for decades, serving the interests of the United States, protecting us and keeping us from harm–look here it is through the existence of JSOC that the big bad wolf, Osama bin Laden was killed, lets all chant USA in the streets, celebrate the victory of this glorious hit squad and forget that until now it was an organization that operated in secret, did illegal things and promoted mayhem and murder…well its the same with geo-engineering, one day you will wake up and you will be hearing from sources everywhere that, oh yeah, high altitude aerosol programs have been in existence for over a decade, its to reduce our planets exposure to an uptick in solar radiation….didnt you know, where have you been–they will talk about it as if it is as novel and dangerous as the invention of corn flakes. And 90% of my fellow citizens will swallow it and continue to fret over the “random” and unfortunate circumstances devouring their retirement fund.

          • Galaxy 500

            So you equate Joint Special Operations Command ( JSOC) being kept secert with some uber complex chemical weaponry that somehow modifies the weather being dropped from commercial aircraft?
            Its shows the lengths people will go to so they can believe in some complex conspiracy that doesnt have a chance in Hell of existing. However, this is America and people have the right to believe in fairy tales, vast right wing conspiracies, and the Jews running the world. Wish they made a pill to treat the irrational.

  27. Texas citizen

    I’ve read every comment and won’t add to the excellent discussion. But I will say that your site is always a pleasant read even if the state of affairs are not. I don’t recommend sites but I will recommend your site to others because of the consistent quality. Thank you Greg, God bless you.

    • Greg Hunter

      TX,
      Thank you sir. I used to live in Texas and loved it!!!! Beaumont TX home of KFDM-TV. I had the time of my life there before I met my wonderful wife.
      Greg

  28. Clifford Collins

    Greg,
    Love the show.. I listen to you and the interviews often.. Just saw this on Goldsilver.com and thought i would pass long..

    http://p.washingtontimes.com/news/2014/may/14/operation-american-spring-hitting-dc-to-oust-obama/

    Clifford

    • Ugly

      American Springs to oust Obama? Has same overtones of ousting Assad. Something fishy. Who are these groups doing so? I know of no conservative ones from what I read….Is this the ‘inside’ job to begin civil unrest? Americans, time to wake up….

      • Galaxy 500

        Dont worry Ugly. Only the wack a doodles showed from what I can tell. The event organizers were calling for millions to show and no more than a few hundred to a thousand showed.

  29. Ugly

    The Book says,
    A quart of wheat for a days wage….
    Thus, shouldn’t we be saving and storing much more than a days wage?
    Better start now. I know I need to keep going because my storage is still in need. Got garden going though….

    • Greg Hunter

      Ugly,
      You can’t go wrong reading the greatest Book ever written.
      Greg

  30. Outlooks gin

    Time is short and becoming shorter by the day. Thank you Greg for reiterating that fact. With each passing day, it brings the globe closer to the day of reckoning. As you say “it’s not a question of ‘if’ but of when! Just casting my interest at what has been slowly occurring around me locally, I see changes that others about me can now see also. It is NOT encouraging! Empty store fronts. For lease/for sale signs abound. Infrastructure that is degrading and going to ‘pot’ for want of regular maintenance. Could go on, but is just too depressing, as the present economic situation, is just as depressingly familiar to any here. Thank once again for a glimmer of truth in a sea of fraud, lies, and corruption.

    • Greg Hunter

      Thank you for the street level reporting. Where are you talking about?
      Greg

      • lastmanstanding

        It is in all communities and cities. The only monies for improvement are grants and funds coming from the gub…they are for beautification and key infrastructure…For those who WILL occupy these areas, not those who are currently there.

        Those in the know (satan’s minions) have crews searching, writing, rewriting for printed money (grants/funding) to further their evil goals (without remorse) at the expense of those of us that put in an honest days work.

        They will not succeed.

        • lastmanstanding

          If they do, most of us won’t want to live here.

        • Galaxy 500

          If Satan was as organized as the Obama Administration, we’d already be in Hell

  31. Coalburner9

    Greg:
    One of your best wrap up commentaries ever, in my humble opinion. I live in one of those red zones in drought country. And one day it will be like the Forrest Gump line, over. However in the present, after a couple of recent trips to Costco, my favorite store, I told my wife that when harvest season comes prices are going up a lot. We noted in less than one month many of our staples had jumped ten to fifteen percent and that is a lot for Costco. It was all quick cycle products unlike canned vegetables and some dried grains from last years crops. Grains affected by prices in the present South American harvest season already jumped too. Of course fresh food crops being grown and harvested now are up in price. Action: Buy reserves now of things still selling from last years crops and winter prices.
    Have a good weekend all!

    • Greg Hunter

      Good advice 9.
      Greg

    • Diane Ryan

      I’m with you Coalburner9; quality food is still quite affordable and AVAILABLE. Our church groups buy in bulk at Costco. Also, for folks living in the western half of US, I can highly recommend AzureStandard.com (no affiliation). We buy all of our quality bulk organic beans (black, pinto, red and kidney) and rolled oats (quick and regular) from them. Most families pool their purchases to meet the $550 min to get orders delivered to one home. Then they get together for a ‘Pailing Party’ (sealing food with oxygen absorbers in mylar bags and then pailed for a 20-25 year shelf life). Perhaps as important as building an emergency food supply, these parties build camaraderie! Families that pray and pail together, stay together!

  32. Kris

    Great work as always Greg! I actually tried watching a comparable amount of network news this week (haven’t watched any for years) and I felt like I gave myself brain damage. Donald Sterling, dogs eating in restaurants, satanic ceremonies, Putin playing hockey were all they talked about. No mention of Ukraine, Bankster fraud, the militarization of local police and bureaucratic alphabet agencies, Japan vs China tensions. I turned off the tv in disgust. They are certainly doing their best to pump out a lot of the unreality signal these days, I’m glad I found a better place to stay informed. Keep up the good work!

    • Greg Hunter

      kris,
      I used to work for the MSM and I was always stand on my bosses to do meaningful work. Very sad. The next time this blows up, and it will, the MSM won’t be able to sit around and say “nobody saw this coming.” That’s what they said the last time, and that was a huge LIE. It won’t work again.
      Greg

      • smaulgld

        Greg
        It is amazing how short people’s attention spans are. You would think that everyone would have learned their lesson regarding Fannie and Freddie and the too loose lending standards, but just this week as they realized the housing “recovery” isn’t happening, they agreed to reduce lending standards once again to boost housing. http://smaulgld.com/fannie-mae-freddie-mac-to-loosen-lending-standards/

        So, unfortunately, they will probably be able to say no one saw it coming and 99% of the people or close to it will believe them.

  33. allen ols

    greg

    the socialist safe haven of Venezuela is not where you want to end up as a loaf of bread costs on average over $11. ZERO HEDGE . COM

  34. Heidi Eberspaecher

    Hello Greg,
    Your site is one of my daily morning lectures. Your interviews and statements are very helpfull to support our need of information what is happening. We all here know that something will come, should be prepared as good as we can and be willing to take over responsibility for us as well as all around us who may still sleep.
    All in this world is having its two sides and when we are overlooking what humanity (espescially the West) has produced over centuries and what is going on now more and more, a cleaning in each and every aspect is more than needed. It is said that this will be done by the 4 elements and when we look around it is already happing around the world.
    We should acknowledge that humanity is not the doer. “Whatever is destined not to happen will not happen, try as you may. Whatever is destined to happen will happen, do what you may to prevent it. This is certain. The best course, therefore, is to remain silent.”
    This is a cosmic play in which we can evolve getting more and more aware who we really are. The cosmic cycle of Kali Yuga – the time of darkness – is coming to an end and before we are able to enter the Golden Age a big cleaning has to happen.
    So the best is to watch and witness with less emotions but increasing trust in God .
    Love + Light to all beings

    • Dan

      BEAUTIFUL comment Heidi, nice to hear some spirituality (vs. formalized religious dogma) injected into this madness!
      NAMASTE

    • Jerry

      ommmm.

  35. Galaxy 500

    Just what we need, a RINO that would be “King”
    Friday on CNN, Rep. Peter King (R-NY) said he is “certainly looking at” the possibility of running for the Republican nomination for president in 2016 if only to stop “isolationist” Sen. Rand Paul (R-KY) and Sen. Ted Cruz (R-TX)

    “I’m looking at this because I see people like Rand Paul and Ted Cruz, and to me, I don’t want the Republican Party going in that direction,” he said.

    King added when he recently saw Hillary Clinton he told her “to get ready.”

    Who amoung you believes that you can make peace with a group whose sole stated purpose is your destruction? Obama does…go ‘bama, go ‘bama
    http://www.breitbart.com/Big-Peace/2014/05/15/Official-Palestinian-Government-Facebook-Page-Mandates-Jews-Leave-Israel-Immediately

    Does it matter if a high level official is in bed with the Chinese? Damn right it does!
    http://www.breitbart.com/Big-Peace/2014/05/15/Director-of-National-Intel-Clapper-s-Office-Sued-Over-Ties-To-Chinese-Government

  36. Jeff

    Allen ols….. I agree with your commentary and could not have said it better (have voiced it for yrs)…..There’s no telling what choices “they” will make when things begin to unwind. I tend to think they will try to do more of the same. Much more, as they really haven’t a clue what they are doing. We will see the dollars’ decent, then a new and improved dollar……It will be anything but improved…….. Last time I commented about the impossibility of a rate hike because our interest payments (among other things) would implode. Don’t take my word for it. Here’s Bernanke’s….[ http://www.zerohedge.com/news/2014-05-17/bernanke-shocker-no-rate-normalization-during-my-lifetime ]

    • allen ols

      Jeff I quoted a writer from KWN William Kayne, I didnt write it, just thought it was spot on. al ols

  37. Jeff

    Greg If you’re looking for new guests I have a idea/request. There’s a guy who knows everything about EMP (nuclear) attacks who could give us some helpful insight…..I consider it very possible as it solves many problems our “elite” have. I don’t want to waste money on solar panels (or anything else) if they are going to be rendered useless. With all the prepping talk, knowing how to prepare for such a life changing event seems very important …….Also, I’ve been thinking about all the solar panels the Chinese want to put up in the Nevada desert (thank you scum bag Reid). The story always seemed strange to me. Maybe they plan to erect it AFTER the EMP blast…….Thanks again for your site and especially giving us the opportunity to chime in.

  38. Jerry

    Greg
    For whatever its worth, I’m receiving word from a high level source that the reset has begun. They are predicting a failed military attempt by NATO in mid June to take down the Russian military in Ukraine (possibly a black swan event) followed by the installment of the Yuan as the new reserve currency in several eastern markets in mid July. This source has never been wrong with the information I have received in the past. I know there are lots of doubting Thomas’s out there, so you do whatever you want with this information. I know what I’m going to do.

    • Greg Hunter

      Jerry,
      If your source is correct that is big news. Please post this comment again in the John Williams interview that just went up!!!
      Greg

  39. JM

    I just had a chat with my local convince store owner, a normal guy from India. I had simply made an off hand remark while standing in line asking him about gold in his home country. What followed was 10 minutes of economic chat that left me with the firm belief that a Indian convenience store owner understood economics better than all off my business school professors combined. I was amazed by the knowledge of fiat, insurance, savings, housing, and metals that this guy has. I also picked up some insights into the way his people think about money and wealth. Long story short, the western way of business is absolutely nothing like it was 50 years ago. Our coziness with debt is down right scary. Those guys pay their bills and totally despise debt. I’m looking forward to chatting more with this guy! I’d bet there are guys like this all over America in every convince store. Try it for yourself!

  40. Jerry

    Greg this is an addendum to my last post. According to my source the Western Banking Cabal that has been heavily invested in the commodities markets the past few years are beginning to leave said markets, because they can no longer stall off the Chinese with cheap Gold. The Gold supplies have been depleted in both New York and London. As a result of these Banks leaving the commodities markets , the Chinese have begun to step in to fill the void they have left. The Shanghai exchange will be the first to use the Gold backed Yuan as world reserve currency in mid July. ( That’s the prediction) For those of you who’ve been looking for a sign of the coming reset and the collapse of the dollar. HERE IT IS !

  41. The Heart

    Here be gathered together two of the greatest youngster truth voices and analyst researchers in the world now. They join the choir of wall watchers that have now become the curtains of grandeur behind these fine reporters.

    The circle of wagons grows. The stage is set. In the future war it will be, you are either on God’s side, that of love and goodness, truth and real justice, or you are on satans side and the warmongers for profit who own the elitist councils of foreign relations that use money as a god to control the world.

    Sunday ponderings.:

    http://www.youtube.com/watch?v=WJJBtBpqE8o&list=UUB1o7_gbFp2PLsamWxFenBg&index=4

  42. FWM

    Dear Mr. Hunter
    i absolutely love your style and determination to get the truth out to the American people. how can İ contribute to your site monetarily? We need more caring people like yourself to put an end to the insanity we are all living through god bless sir and keep it up

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