North Korea, once again, leads the Weekly News Wrap-Up. There has been nothing done to ease tensions in the past week on the Korean Peninsula—just the opposite. On one side, you have the North Koreans planning more missile launches. On the other, you have U.S. Secretary of Defense Chuck Hagel saying North Korea was “skating very close to a dangerous line.” Incendiary things have been said in the past by North Korea, but nothing coming close to what’s been going on in recent weeks. Kim Jung Un has personally been making war comments, and I wonder if Un has painted himself into a corner. Will he feel he must attack to save face? What will be the U.S. response to any attack? People like Republican Congressman Peter King have publically said the U.S. has the right to make a preemptive strike. Former Vice President Dick Cheney warns “We’re In Deep Doo Doo” on the North Korean situation. Big questions about war with North Korea are yet to be answered.
In the Middle East, the U.S. Navy has moved a laser attack weapon to the Persian Gulf. It is reportedly a prototype, but I’ll bet it works just fine. It is supposed to be able to disable boats and aircraft. Why move a prototype to the Persian Gulf? This is not a move towards peace. It is adding to the military hardware already in and around the Persian Gulf. This is another world tinderbox waiting for a spark.
Think the financial situation is much better now? Christine Lagarde of the International Monetary Fund (IMF) thinks so. This past week, she said the “economic world no longer looks as dangerous as it did six months ago.” Really? Is that why Japan is frantically printing $1.4 trillion dollars to buy its own debt? Is that why former White House Budget Director says Treasuries are the biggest bond bubble in history? Is that why Cyprus is fighting a more than $500 million sale of its gold as part of a bailout deal? Is that why Mohamed El-Erian, CEO of PIMCO, the world’s largest bond fund, said this week the IMF, EU and ECB “seems so disconnected fromreality” when it comes to the ongoing Cypress banking crisis. Late last year, Ms. Lagarde said this was a bad idea to print lots of money that would fuel a currency war. Now, it’s a great idea to print massive amounts of money. I don’t get it. What changed?
Join Greg Hunter as he gives his analysis of these stories and more on the Weekly News Wrap-Up.
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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.