Weekly News Wrap-Up 9.20.13

Defund Obama Care, No Fed Money Printing Exit and MoreBy Greg Hunter’s USAWatchdog.com 

To taper or not to taper–that is the question, and we have an answer.  The Fed is going to keep on printing $85 billion each and every month.  All the speculation the Federal Reserve was going to cut back on the money printing went “poof.”  The stock market spiked to new highs, but this is really just a “sugar high.”  The Fed is showing it has no exit plan, and if it did cut back on bond buying, interest rates would have spiked even more than they already have.  This is an ominous sign that the Fed has lost control of the bond market.  Keep in mind, interest rates shot up more than 1%, and that was with the Fed buying $85 billion a month.  They knew if they cut it back, rates would have shot up even more, and the economy would have tanked.  The Fed is stuck, and as famed investor Jim Rogers told us here on USAWatchdog.com, “If the Fed stops money printing, it’s going to be a disaster.  If the Fed keeps printing, it’s going to be a disaster.  Either way, it’s going to be a disaster.”  It’s only a matter of when. 

The Republicans in the House are trying, once again, to defund Obama Care.  Some say they are risking a government shutdown.  I say “no way” they are going to shut down the government because they could also shut down the weak and fragile economy.  I think this is just a way to mark out their political territory and to try to get the Obama Administration to negotiate cutting some spending.  The Democrats are going to have a very tough time in the 2014 mid-term elections because of this job killing law that even some Democrats call a “train wreck.”  

Syria is already probably going to miss its first deadline to start the process of turning over its chemical weapons, and the Obama Administration is going to just let it go.  It took 10 years for Libya to destroy its chemical weapons, and it was not done during a civil war.  The Middle East war questions are far from answered, but, for now, things are quiet.  

The Washington Navy Yard shooting claimed the lives of 13 people including the shooter.  Could a SWAT team have gone in and saved some people?  The BBC is reporting yes it could have, and the British news organization is reporting a SWAT team was on the scene early on and was ordered to stand down.  Why and why isn’t the mainstream media doing follow-up reports on the BBC story? 

Finally, JP Morgan has admitted wrongdoing for its so-called “London Whale” trading losses and is paying a $920 million fine.  My question is: why no criminal charges?  Bank CEO Jamie Dimon was in charge, and testimony by his top lieutenants on Capitol Hill said Dimon was running the show.  That included waiving off regulators early on.  Dimon said from the beginning, the losses would only amount to $2 billion–they ended up being $6.2 billion.  He said this just before the shareholders meeting in Tampa where he got a big $23 million payday.  His pay was cut in half because of the loss, but how do you miss by that much and still have a job?  Add the fines, and the losses were more than $7 billion!!!  

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

Comments
  1. michael

    Too bad all this is real. It’s like watching a bad play repeat itself. A bad soap opera.

  2. Ugly

    Greg,

    Lets face it. Life as we know is changing and has changed. The Navy issue is strange. From what I read, the first call about the shooting was around 8:02 and the first response around 8:33. That is weird. These people were sitting ducks.

    The story has changed so many times from 3rd floor, rifles, and maybe two gunman, to just one guy with a shotgun walking around and shooting at his leisure.

    Also, how does the govt just issue bonds for themselves to purchase? How do you just issue a bond? Also, people need to know that the term ‘money printing’ is a misnomer. There is no printing. It is just electronic numbers being propped into the system.

    Troubled days are here. Be ready everyone.

  3. Taboola la

    Paul Volker, where are you? You saved our asset’s, before! Who will save our soul’s, S. O. S.!
    See ( http://www.huffington.com/tag/paul_volker )

    • Taboola la

      Sorry, thats ( huffingtonpost.com/tag/paul_volker ).

  4. DAVE

    Hey Greg
    Always love the show but many times a bit over the top.Yes, just my opinion.As for many of the doom and gloom people, the answer has always been here. Once again, been a avid viewer, but must dismiss a lot of this.Think about it Greg.The people running this show have full control.The Banks and corps.As for what is to come?I gave that to you some time ago http://www.fdic.gov/about/srac/2012/gsifi.pdf …here is the answer to the DEFAULT which is coming.The plan is already in place.So don’t be fooled as to who is driving the boat.Note that the cover say’s the B.O.E but then goes right into the FDIC and so on.Note that most bills past are during the weekend and are at night.These people are not stupid and have a grip on what is going on and what is to come .You might say that 08 was a fluke ,but i assure it was not.Your thoughts Greg?

    thanks Dave

    • Greg

      Dave,
      Every story I talked about in the WNW 9/20/13 is listed under “Hunter’s Top Stories.” I source everything. What is over the top about telling the unvarnished truth? Heck ,I leave things out, such as the president directly shipping arms to the Syrian rebels which is comprised of 50% al-Qaeda. Thank you for your comment and support.
      Greg

    • Jim H

      Dave and Greg
      All I can say is WOW!!!! Dave I read over half of the article in your link and if corporations (banks included) are people then people must also be corporations. I have never seen so much debt converted into equity in my life. What a great deal! I want some of that and many down and out people should jump on this bandwagon also. Here is the US solution and guys it’s well worth the read. The title is mine. Thanks Dave.

      EUREKA!!!!

      U.S. approach to single point of entry resolution strategy
      24 Under the U.S. approach, the FDIC will be appointed receiver of the top-tier parent holding company of the financial group following the company’s failure and the completion of the appointment process set forth under the Dodd-Frank Act. Immediately after the parent holding company is placed into receivership, the FDIC will transfer assets (primarily the equity and investments in subsidiaries) from the receivership estate to a bridge financial holding company. By taking control of the SIFI at the top of the group, subsidiaries (domestic and foreign) carrying out critical services can remain open and operating, limiting the need for destabilizing insolvency proceedings at the subsidiary level. Equity claims of the shareholders and the claims of the subordinated and unsecured debt holders will likely remain in the receivership.
      25 Initially, the bridge holding company will be controlled by the FDIC as receiver. The next stage in the resolution is to transfer ownership and control of the surviving operations to private hands. Before this happens, the FDIC must ensure that the bridge has a strong capital base and must address whatever liquidity concerns remain. The FDIC would also likely require the restructuring of the firm—potentially into one or more smaller, non-systemic firms that could be resolved under bankruptcy.
      26 By leaving behind substantial unsecured liabilities and stockholder equity in the receivership, assets transferred to the bridge holding company will significantly exceed its liabilities, resulting in a well-capitalized holding company. After the creation of the bridge financial company, but before any transition to the private sector, a valuation process would be undertaken to estimate the extent of losses in the receivership and apportion these losses to the equity holders and subordinated and unsecured creditors according to their order of priority. In all likelihood, the equity holders would be wiped out and their claims would have little or no value.
      27 To capitalize the new operations—one or more new private entities—the FDIC expects that it will have to look to subordinated debt or even senior unsecured debt claims as the immediate source of capital. The original debt holders can thus expect that their claims will be written down to reflect any losses in the receivership of the parent that the shareholders cannot cover and that, like those of the shareholders, these claims will be left in the receivership.
      28 At this point, the remaining claims of the debt holders will be converted, in part, into equity claims that will serve to capitalize the new operations. The debt holders may also receive convertible subordinated debt in the new operations. This debt would provide a cushion against further losses in the firm, as it can be converted into equity if needed. Any remaining claims of the debt holders could be transferred to the new operations in the form of new unsecured debt.
      29 The transfer of equity and investments in operating subsidiaries to the bridge holding company should do much to alleviate liquidity pressures. Ongoing operations and their attendant liabilities also will be supported by assurances from the FDIC, as receiver. As demonstrated by past bridge-bank operations, the assurance of performance should encourage market funding and stabilize the bridge financial company. However, in the case where credit
      6
      10 December 2012markets are impaired and market funding is not available in the short term, the Dodd-Frank Act provides for FDIC access to the Orderly Liquidation Fund (OLF), a fund within the U.S. Treasury. In addition to providing a back-up source of funding, the OLF may also be used to provide guarantees, within limits, on the debt of the new operations. An expected goal of the strategy is to minimize or avoid use of the OLF. To the extent that the OLF is used, it must either be repaid from recoveries on the assets of the failed financial company or from assessments against the largest, most complex financial companies.9 The Dodd-Frank Act prohibits the loss of any taxpayer money in the orderly liquidation process.

    • Galaxy 500

      The buffoons are in full control? You’re kidding right? The best laid plans of mice and men oft go astray. Only God is in full control.

  5. RMJ Atkinson

    If there is a ganny smoking pot, SWAT will smash down her door, taser her, and drag her off by the scruff of the neck. If there is a nutter shooting everyone with a gun, they will wait til he kils himself. They are PATHETIC cowards!

  6. MAL

    Hi Greg,
    In the fall of 2008 the fed announced that it would begin paying interest on the money in the banks reserve accounts held at the fed including excess reserves. At the time the banks had historically deposited only the legally mandated amounts in their reserve accounts which as I understand it was about 50 billion dollars. Since the decision to pay interest the amount of excess reserves is about 1 trillion dollars.
    Question: If and when the tapering begins will the fed stop paying that interest and will that trillion in excess reserves then be “pumped” into the economy by the banks in the hope that it will have a stimulating effect and ease the effects of tapering? Just curious what you or your readers think.

    • Greg

      MAL
      I have no idea but nothing would surprise me at this point. Anyone else like to tackle this question, be my guest. Thank you for supporting the site.
      Greg

    • mohammad

      MAL,
      You are referring to velocity.
      We are not seeing the inflation/hyperinflation for the mere reason you have mentioned and that is the money is PARKED and not released to the public, they are (the feds) sterilizing the toxic mortgages, putting a lid on the side effect of hyperinflation by just doing that.
      They cannot taper, they are stuck.
      the moment they try or even sneeze taper economy will implode.
      They keep what they are doing eventually will collapse dollar by losing faith and all that ocean of dollars will come home to have the gallon of milk for 50…60$ god knows.
      Bottom line they are STUCK either way.

      • mohammad

        Jim Rickards on this issue to RT:
        https://www.youtube.com/watch?v=hKmyjXjz7E4

      • Robert Burke

        may I disagree…tapering will start in October….it will being slowly with small targets. Money printing has ended and tapering is about to start, they have no choice but to taper

        • mohammad

          Any reference Robert you can link to, this is interesting if true.
          if so then market should tank, the grease to equity wheels is liquidity.

          • mohammad

            Here is what Jim Rickards had said today:

            http://www.kitco.com/news/video

            when it comes out of Jim that feds CAN NOT TAPER IT MEANS A LOT.

          • mohammad

            SORRY ROBERT,
            my bad …. the interview at kitco with Jim Ricards can go on the side of your argument too….Wow so much confusing, will see in October, if they taper and gold goes down to 1000 range then great will be a good chance to strengthen the position in PM.

  7. mohammad

    Mr Obama,
    If there is any way you can read those words i want to thank you and thank your administration for the very cautious approach you have towards Syria issue.
    As an American citizen from Syrian origin and knowing that there is about 5 million Syrian residents in Damascus alone and more in the rest of the country that are HOSTAGES to the regime that can use chemical weapons on them if he is desperate, i appreciate the way you are handling that matter which shows that you are the most humane president ever took office in US history.

    • Allen Ols

      Mo

      Obama wanted to missle syria; u in denial; he got checkmated by putin who u need to thank putin. Obama needed lybias gold; stop sadaam hasiem iraq from trading oil for gold like lybia. We usa needed malias gold; we backed france to get 144 tons gold. Mo. U r a doc. Get jim willies hat trick letter. If u can’t afford it give me time , yard sale I will pay it.

      • mohammad

        Allen Ols,

        If Obama wants war he could of started it already.
        Military complex wants it, Netanyahu wants it, CONGRESS WANTS IT, but they do not want to carry the burden, they are a bluff, if the vote goes they will go AYE, if Israel wants it to happen the congress will say AYE, listen to what Panetta and Gates are saying now….Obama has to hit Syria without the congress…Yada yada yada……every one wants Obama to do what they in private wants to do but do not want to upset their base….
        Obama raised the stick but did not hit with it, that alone made Assad agree to:
        1- admit he has chemical weapons for the first time and that has a tremendous implication and consequences.
        2- agrees to disclose his stock pile and that has been already given to UN.
        3- Made Iran think many times and keep guessing, and that is the point keep guessing what is US next move will be. that in chess is called TEMPO, if your opponent is as good as you are and you are ahead of him with one step, you win.
        Russia and China are not ready for a world war, they are not positioned properly as of yet.
        They need a lot of gold and they need to control the skies and that has not happened.
        US is strong in technology and i wish for you to review few videos by Dr. Joseph Farrell to realize the very advanced technology in the thirties that US acquired after winning the war and the shear advances that could of happened to it by now, am not underestimating the Russians and Chinese but they are no match as we speak.

        We are not out of the woods and this thing is still rolling. I am aware of the macro picture and i think we will have a war, am just glad that our president is not running to it.

        On a side note may i ask to be called Mohammad and not MO.

        • Galaxy 500

          Mohammad,
          Have you missed how the Chinese have stolen all of our advanced war tech?

          • mohammad

            Those conventional technologies of rockets,chips… are obsolete. we gave them what we declassified.
            just imagine the possibilities of powering a whole city from a technology that is the size of a coffee cub, unified fields of magnetism and gravity was in US hands after the war ended, what can happen to it by now is beyond imagination.
            i will refer her to Dr. Farrell on the Bell project, listen to him on youtube and you will be amazed.

    • Taboola la

      Mo, the people on this site aren’t ignorant, they read. What side of the rebels, are you on? THIS SITE, IS ON THE SIDE OF theTRUTH, doesn’t take side’s. What is your agenda? Or are you a liar and know you are a liar? Hairless Krishna, $anjay Ka$h HariKerry, and you, should run together for political office, or Jihad.

      • mohammad

        Greg,
        I did not realize that you allow personal insults on your site, out of respect to you i will not engage with Taboola la.
        I always admire the standard of your blog that is why i will leave it there without any further comments on his (…..).

        • Greg

          Mohammad,
          I am sorry Mohammad. I missed the personal insult comment. When I see people talking to each other I don’t read the comments as carefully. (Everybody, play nice. Disagree all you want, but no personal insults please.)
          Greg

          • mohammad

            My respect is getting greater to you Greg, you do not have to be sorry you did not do any thing wrong, no worries, all good there.

        • Taboola la

          Mohammed, I’m sorry if you took my comments as an insult. I was asking if you were lying to us and if you knew you were lying, because you seem to be an intelligent man and you should respect our intelligence, also. Like I said Greg hunter does not take sides on the issues, though he might in PVT. He delivers the truth as he finds it and provides different sites and publications to keep us informed. He leaves it up to us to decide whats, what. The truth. The main stream media in this country have an agenda, like you seem to have. It’s obvious you aren’t following Greg, or are you playing us, for fools. If you were following the news as Greg has been delivering to us you would know, that many sources say the rebels in Syria didn’t know how to handle the chemical weapons delivered to them by prince Bandar Bin Sultan of the house of Saud and caused the chemical disaster to themselves and others, in Syria. That the Saudi’s want there pipelines thru Syria to bypass the Ruski’s and undermine, Russian gas, to Europe. That Bandar threatened Putin with Chechin terrorism at the winter Olympics. That Putin did the checkmate on the west, with the advanced Sunburn missile. That this fight is between the Sunni, Saudi, and Iran, Shia. I could go on and on but like I said you seem Ignorant on these revelations or maybe you have a hidden agenda. I don’t know, but it seems very strange, that you seem to only know the politically correct, uninformed view on matters, especially since you claim to be a follower of USAWatchDog.

  8. Jerry

    Greg you and I both know that the Fed can never stop printing money or the economy will “implode”. The question is how long will it continue? At some point the Bond buyers will stop buying Bonds, -OR- the Central Planners will shut down the Banking system to avoid overloading it with worthless U.S. paper. Either way it is coming.

    While most Americans were busy trying to figure out the next winner of American Idol, the Chinese and Russians were quietly buying tons of Gold to backstop their economies. The bigger question is does President Obama and the rest of the Socialist in Washington care that all four engines are out on this plane called the American economy, and that we are literally coasting on fumes? My guess is NO! In fact I think they’re planning on it. Why else would DHS be buying billions of bullets and thousands of urban assault vehicles, and tons and tons of emergency food?

    Greg the next few months are critical. Karen Hudes mentioned that the Bretton Woods Financial Committee would be meeting in October I believe. Keep an eye on this gathering as they may very well be planning the future of the dollar. The Chinese, the Russians, and several other Brick nations are already talking about pushing away from using the dollar as world currency. This is important. If that happens, this could be the beginning of the end.

    Thanks for all you do Greg, and for letting the light of truth shine forth.

    • Greg

      Jerry,
      Either way it implodes. Thank you for your comment and support.

  9. art barnes

    Greg, nice wrap up. FED answers the tapering question, just like most of if not all your interviewees predicted.

    We also learned or should have learned that Obama will never speak of a “red line” again as all quiet on the Syrian front, he ought to personally think Putin for pulling his big foot our of his mouth. Long term though loss of U.S. credibility will be used against us & Netanyahu will have to go it alone. The end of the month meeting will be Obama trying to convince Netanyahu that the U.S. Syria position will not impede his iron stance on Iran. Any fool can see that the Syrian development cannot help the situation in Iran, frankly, I don’t know why under the circumstances Netanyahu agreed to come to Washington again as it will just be more private “red line” which will never see fruition.

    JP Morgan and Company must own the Government & the Justice Department paying off and or knowing where the bodies are buried, how else could they not be criminally prosecuted for such acts?

    Lastly, the Republican stance on Obamacare and the debt ceiling will come and go as always. Prediction, posturing & photo ops for a month or so and then go back and get their paychecks from the lobbyist and kick the can further down the road. One other easy prediction, house speaker Boehner will spend and extra 5 hours during the debt ceiling week debate in the house barber shop.

    • Greg

      Thank you Art for adding your perspective and analysis to the Weekly News Wrap-Up!!
      Greg

    • Allen Ols

      Good stuff

  10. Sylvia Sterling

    Excellent weekly news wrap up. I feel like I have a handle on everything
    that happened this past week. Thanks !

    • Greg

      Sylvia Sterling,
      I don’t cover everything so please use other sources to back me up. That said, Thank You for your support.
      Greg

  11. Brody saari

    Man, talk about a schitzo market this week. So annoying watching people react like such baboons. The confusion being brought by the fed and media is an agravating comedy.

  12. Brian

    My question, and it is a doozy if I may say, is that given the level of unpunished criminal behavior going on today, how is it that we can expect anything other than the criminals in charge to simply remain in charge after the inevitable rise of chaos and collapse their criminal activity brings on? Is it not likely to the point of near certainty that the only thing that will really change after the collapse is that the people in power now will have an even freer hand to operate with later?

    Whether by design or not, the collapse of our economy will only strengthen the position of those currently running the show, because if we the people cannot bear to hold them into account now, for the relatively petty crimes that have been committed thus far, then how the hell is anyone going to be able to effectively stand up to them when we are living in a totally naked police state with a myriad crises unfolding all at once?

    Hey, I got an idea, lets ask the citizens of Boston, who allowed troops to illegally evict them from their homes and go through all their property what recourse they might have if say, when they were allowed back into their homes, there was a gold watch missing? Or how about asking folks who had things go missing after the TSA went through their effects at the airport what kind of investigation was done? Yeah, thats just a teaser and a taste of what is to come baby!

    The ominous theme du jour is one of concentration of power, power is being stripped away from the local levels right on down to the individual and poured into a few nodes of control, and those nodes are very very far away, served by self serving, short sighted, frustrated and compartmentalized yes men, very very much insulated by layer upon layer of bureaucratic bullshit and obfuscated by a body guard of lies and feigned ignorance.

    Whenever something goes wrong lately the answer is to centralize power, ensure that continuity of government (COG)is preserved above all else and to politely force the public to accept the measures being taken for the good of all us common simple folk……its no big surprise where this is all headed, and it is a truly dark and ugly place, filled with horrors beyond imagination and not at all easy to get out of…..fun fun!!!!!!!!

  13. Jon

    Greg,

    Money printing will go on forever we will never see the end. Only way the crash will occur if US or Israel attacks Iran.

  14. David

    Greg –

    Let me preface this by saying that I am not a fan of central banking. The Federal Reserve Act was the worst thing to ever happen to America. Well, if you don’t count Lincoln’s tyranny. However, let’s be clear on something, the Fed doesn’t print money. The treasury prints money. It’s easy to blame the Fed when in fact the congress, specifically the house of representatives is to blame. Article I, Section 7 states that all revenue bills shall originate in the house of representatives but the senate may propose or concur with amendments as on any other bills. The Federal Reserve is simply acting as a bank, issuing a line of credit to the government of the United States which allows them to produce their product, in this case currency. Now, the banker could simply shut off the credit which is what tapering would do and perhaps they should do that. But why would they? As a privately held entity their goal is to profit and they do so handsomely from the interest they make from their product which is credit. In my opinion congress deserves the lions share of the blame because they control the purse strings. President Obama is actually a peripheral figure in the budgeting process if you read the constitution and understand its revenue and spending measures. The problem too is that everyone in this country is essentially a junkie. Nobody wants their Social Security or Medicare or Medicaid or unemployment or EBT benefits cut. Non discretionary spending, mandated programs, are the largest component of the budget. You could cut all government spending except for non discretionary spending and this country would be running a budget deficit. Do you get that? You could eliminate every penny of discretionary spending and there would still be a deficit! As long as congress and the rest of the “money junkies” in this country keep going to their “pusher”, the Federal Reserve Bank then things will remain the same. It’s time to stop blaming the Federal Reserve and start looking at congress and the republican controlled house of representatives who keep mainlining debt like there is no tomorrow. Of course were it up to me I’d repeal the Federal Reserve Act and let the markets decide what is money but I don’t see that happening anytime soon.

    Keep up the good work,

    David

  15. Rod

    Great work Greg, keep telling the truth you’ll never convince the Kool-Aid drinkers.

  16. Jerry

    Jon.
    Please excuse me, but what evidence can you provide that we are still captains of our own ship? The very thought of easing back on QE brings the market down. There is no way out without collapsing it.. period. Eventually the Bond buying will have no effect. The more they print, the more worthless the dollar becomes. All we have left is a stack of IOU’s with interest, and a country in denial. You can go back to sleep now.

  17. Galaxy 500

    Greg,
    Informative and down right depressing…but then reality is a harh mistress. Thanks for being a source of real news.

    • Greg

      Thank you 500!!
      Greg

  18. Galaxy 500

    Ps. My wife’s orthopedic surgeon announces he is retiring…the date is the day before Obama care kicks in. And she works for WalGreens who announced they are moving employees to private exchanges.

  19. John S

    Hello Greg, i think we can sum this all up as Catch 22 and although further discussion might highlight new things you have all your answers right here. Showing us what the newspapers had to say highlighted their insanity and why no sane person should buy a newspaper today, or watch tv for news. The real news is here and on other websites like yours.
    Good roundup Greg trying to make sense of insanity.

  20. Robert Burke

    Watch what a Canadian Billionaire thinks of the USD.

    http://youtu.be/nX7J8-VTG08

  21. Enda

    Dear Greg:

    Great roundup as usual. It’s nice to have a site to read where it’s all truth, all the the time.

    Over the top? I don’t think so. You just tell it like it is, whether it’s soybeans or the printing presses rolling. I’ve noticed a few critics lately, and to you I say, be grateful for the work Greg is doing for your sakes. If you don’t like the site, don’t like it, but don’t give him a hard time for bringing the truth to your screen.

    Let’s understand this for once and for all – we’re in for a very rough ride. No economy, no country has ever debased its currency and not had a meltdown; the American ego does not understand this. We think food, water, peace, electricity and infrastructure are just assured. Wake up!

    • Greg

      Thank you Enda! You are very kind.
      Greg

  22. Matt

    Greg – you are doing an outstanding job and your the folks you interview are top notch. Would it be possible for you to find a guest to speak to why/how the national debt has been EXACTLY $16,699,396,000,000 for months?

    Regards –
    Matt

    • Greg

      Matt,
      Good question. I’ll try to ask it in my next interview.
      Greg

      • mohammad

        Greg,
        Last i checked as of today it was
        16,949,213,200,999 and going!

  23. Rick up north

    Greg Had to have an overnight ponder of your last question. Jamie the demon is the direct result of political shall we say contributions. Take a look at the POS heading the AGs office.Its not hard to connect the dots.Yes its going to hit the fan and I hope the filthy creatures feel the wrath of GOD justly so.On the noble metals I have a few pounds of each big deal.Life sustenance and liberty are first on the list.I like your site your opinions but mostly the dignity you show your readers.Looking fwd to monday.

    • Greg

      Thank you Rick up North, me too.
      Greg

  24. Tim

    Greg,

    Many people would like it if you did a special video on how the common person can prepare for this upcomming calamity. Most people do not have extra money for food, gold or survival products. What can the average guy do to survive this hellish future? What are you personally doing?

  25. Agent P

    Blackberry, Wells, Target and sure to be others following are putting a damper on the 6.5% unemployment goal. In fact, with the ‘hidden’ numbers the Fed no doubt pored over a few days back, it is likely the unemployment goalposts will have to be moved or perhaps even swapped out for some other high profile metric, like inflation targeting.

    The Fed is not going to come out and say that they cannot afford 10-year rates at 3% or higher, because that would be akin to admitting default, so the 3-card monty will continue, but now doubt is beginning to seep into the psyche of the market, and likely soon to be the bag-holding general public/investor.

    In addition, our foreign trading partners are watching these conditions with an even keener eye, and no doubt moving their own ‘goal-posts’ in by a substantial margin, knowing fairly well by now, that the Fed has no exit strategy and that U.S. dollar hegemony will soon give way to either multiple ‘reserve currencies’, or a completely new monetary system, both.

    And none of this even takes into account our foreign policy disasters and how that is affecting the mindset of our foreign trading partners/creditors. No folks, this is not working out well for the U.S. on ~many~ different levels and the whole shootin’ match is setting America up for the desolation of isolation on the world stage, and a very bleak future for Liberty within the confines of our own borders.

    • Greg

      Good stuff Agent P!! Thank you for posting facts and analysis.
      Greg

  26. BLT

    Greg, we need some bumperstickers (thats one word down here in Tx). Time for the watchdog nation!

  27. grossyi

    We all know that the economy is going to get much worse sooner or later. The Feds’ policy as hisory shows, guarantees this. So then why the big concern over a government shutdown. It will hurt the economy? The economy is on life support, pull the plug already. The longer we try to prop up this disaster the worse it is going to be. A government shut down followed by a refusal to raise the debt ceiling is what this economy needs to unwind the malinvestment and the fiat can of worms. That the responsibility for the disaster is laid at the feet of the Republicans or Obama Care or the Fed is irrelevent as long as the American people demand a return to Constitutional government.

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