Weekly News Wrap-Up 6.1.12
By Greg Hunter’s USAWatchdog.com
Greece is on life support. Spain is experiencing bank runs. Many countries are in or heading into recession. The European Union is in gridlock over what to do. The bankers want money printing for bailouts and want the people to pay for it. The leadership in the EU is, also, pushing for Euro-bonds that will spread the debt out to all the countries. Germany is a big holdout. It doesn’t like the money printing bailout idea and hates the idea of taking on the debt of all the EU countries.
Meanwhile, the Fed is probably busy behind the scenes printing money and handing it over to the European Central Bank for more bailouts. No telling when the crisis will end, but my bet is it will end badly for 99% of the population.
The U.S is not doing much better than Europe, but it is the cleanest dirty shirt in the clothes hamper. Treasury interest rates fell to an all-time low of just 1.65% for ten year bonds. Would you loan money to the U.S. for 1.6% and expect to get back anywhere near the buying power of your money in a decade? This is supposedly the safe haven play. All I can say is America will take the spotlight in the sovereign crisis sooner than later.
Mitt Romney clinches the GOP presidential nomination—yawn. John Edwards’ trial ends with one not guilty and a mistrial on the other five counts. Federal prosecutors have been trying to put this weasel in jail over a million bucks to try and cover up a love child and not a single prosecution of elite bankers that caused the trillions of dollars in losses and the financial meltdown of 2008? You have got to be kidding. Greg Hunter gives his analysis of these stories and more in the Weekly News Wrap-Up.
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About the Author
Greg Hunter
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.
The next “rinse cycle” in the Debt Markets will definitely ring a few bells. Let us just hope it does not do awesome damage. Rather, It just might work to seriously sober up the top 20 percent of the American people and crystallize a resolution to the crisis.
In the meantime CNBC & the Wall Street elite blame the lackluster Dow on Europe again & again. CNBC will never own up to any actual realities here at home such as poor US manufacturing due to our patriotic American companies going offshore taking our jobs with them along with a decent standard of living for the employees left behind. Wall Street will never admit that many of their little precious companies they tout don’t actually make, manufacture, or produce anything such old Enron and the new boy on the block Face Book.
A house of cards is evolving and the FED will print & print until the last card placed on top takes it down. Sooner or later the people will wake up and smell the fake roses sprayed with Wall Street’s perfume and realize they been had, of course, it may take their job for them to be able to realize it. Many will accept the approaching third world economy, happy to have a ball game, race, or whatever to watch along with a few beers. Others will just go along and believe it is Europe or China that is causing the problem and believing the MSM that another election will solve all ills, all the while the FED who is not subject to American law goes unabashed printing & destroying the middle class of American. This can’t turn out good but it is certainly foreseeable.
Lastly, nice work this week Greg.
Thank you Art for the comment.
Greg
Kudos Greg.
FYI
CBO whistle blower on the fraud in ‘robo signing’ properties.
http://www.zerohedge.com/news/terminated-cbo-whistleblower-shares-her-full-story-zero-hedge-exposes-deep-conflicts-impartial-
Tom,
So much fraud and the American people are sound asleep.
Greg
Hi Greg,
You can,t blame the populations of Greece or Spain to try to rescue their savings. I have good insight contact in german financial/politics and he expects sooner or later currencie controls in Zwitserland, Germany and many more countries in EU. The banksters are clearly in control as they have the empty shells called politician deep in their pockets.
Now you are very correct that 99% of population will suffer but we should not forget that we are ourselfes are to blame as well. The majority of population does not read and listens only the msm corporate controlled media. Now we gonna see the final transfer of wealth from the masses to the very few hands.
This is why a central bank is a real cancer for each society, it should be in constition that it should be forbidden to practice. Andrew Jackson you remember obe of late us president: on his gravestone is written “I killed the central bank”.
All these institutions like Un, Worldbank, IMF, EU, Worldtrade centre etc, etc are noting else then tools for the iluminati bankers. O yes I forgot to mention the beast (BIS) bank of international settlements.
Was set up with help of Hjalmar Schacht (rotschildt agent).
If we do not return to sound money that is free of any shackles of any politicians/bankers the future is hopeless for us.
Pieter
You left out the good new that the Orchestra (media propagandists) on the top deck of the U.S.S. Titanic are really playing some good,soothing music.(before the frigid and deadly waters drown and kill us)
Marcel,
Love the visual description.
Greg
marcel.
That was too cool…love it.
This may sound like a stupid question, but I’m going to ask it anyway.
Why does the Fed have to “sell” it’s bonds to private banks via the discount window?
Why doesn’t Bernanke just print $300 million dollars and give each and every American $1 million dollars to spend as they wish?
You know, with $1 million dollars,we could pay off our credit card bills, student loans, mortgages,etc..and everyone would be happy.
Hey do the math, 300 million americans, with each 1 million in printed fiat, is 300 trillion, now thats inflationary, go GOLD.
Well, partly because $300 million dollars would give each of the 300 million Americans exactly $1. No particularly helpful, don’t you agree?
Actually, $300 million would only provide 300 people with $1 million dollars each. The Fed would have to print $300 trillion dollars to give each American $1 million dollars each. That said, I wouldn’t put it past Bernanke to print that much. In fact, before it’s all over it may cost $300 trillion to buy a loaf of bread. And the presses keep printing…
This new insanity of asking the banks to take on the US debt must have the financial wizards in a tizzy, couple that with the Fannie Mae and Freddie Mac debt bucket, the euro fiasco and we are really in seriously deep dooo doo…..there is no safe place for your money right now.
Greg, in a world were you don’t what a product is made out of & what sort of bad stuff it contains, this site is a site of Made in USA, why buy from a company who moved it plant off shore for bigger profits leaving millions out of work. Folks try this site for any thing you may need. http://www.americansworking.com/index.html. I have found their products are much better than a walmart products made in China or BFE!
The job numbers sure were not a surprize & those who think it will get better are dead wrong. We should follow Icelands lead & do it fast. The only proble is DC is owned by the bankers. Icelander’s stood up against a crooked gov & banking system, Americans are scared to stand up except to get in line for a damn Iphone! They don’t care that their freedoms have been took away & most of the youth when ask about NDAA have never heard of it. GOD Bless for your working to get the truth out to those who will open their minds to listen!
Greg, this is another great weekly review and down to the point. If I were you, I would mention the decision of the China, as the second world economy, and Japan, as the third world economy, starting by June 1, 2012,are now trading in yuan and yen, without converting those currencies to US dollars, as it was traditionally expected by the USA. The USA government representatives didn’t react to this latest news like they need to digest that shock first.
Miro, You just did it, and it is a very important point. The U.S. is being attacked from all sides. Thank you for your additional analysis.
Greg
When in danger, When in doubt.
Run in circles, Scream and shout.
How did everybody like that stock market action? Wonder if they were thinking about the “up limit” on the Comex as to gold. They have a down limit in stocks and an up limit for gold. Hmmmmm? The only thing good happening is whether Greece pulls the ejection handle and punches out of the EURO. A put up or shut up moment. I am reading all sorts of bad news about Greece. Unemployment,increase in suicide, hunger and no medical supplies. Babies being left on doorsteps. That’s Right! They are abandoning their family because they can not afford to feed them. Oh, and they have real soup kitchens and no EBT cards. We here in the USA worry about how big the soda cups are getting or the supersizing of our meals. I’m just preaching to the choir here. Yet with Russia, Iran, Syria and Israel in the mix, you could say a MAD MAX Syndrome is not fully out of the picture.
Isn’t 300 million only 300 people?