Moody’s dropped a bomb on global banks this week. It handed out credit rating cuts to 15 of the biggest banks in the western world. JP Morgan Chase, Bank of America and Citi were all cut two notches and Credit Suisse three notches. Since the 2008 financial crisis, it’s really been all about propping up the banks and nothing else. That’s why there has been growing talk of a world-wide money printing drop for weeks now, and one is coming soon.
Italian Prime Minister Mario Monti says there is “only a week to save the Eurozone.” Remember, Mr. Monti is an un-elected technocrat banker, and this is all about saving the banks and not the people. Congress wants documents in the failed “Fast and Furious” gun sting operation where a border patrol agent was killed with guns given to a Mexican drug cartel by undercover federal agents. The White House is invoking “Executive privilege” in order to not comply with Congress. This is turning ugly and may set off a Constitutional battle. Congress and the Executive Branch are supposed to be equal. There was another meeting this week concerning Iran’s nuclear program. The U.S., Russia, China, Germany, UK, France and, of course, Iran were all present. The only thing agreed upon was they would meet again. How long will Israel wait is the only question to me. Greg Hunter gives his analysis of these stories and more in the Weekly News wrap-Up.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.