Just three stories today, but they are big ones–North Korea, the Middle East and the ongoing banking crisis. North Korea has rattled its saber in the past, but not this loudly. Any talk that this is another bluff to get the world to back off on the sanctions for its nuclear program is underestimating the seriousness of the situation. North Korea has the 5th biggest army in the world, and it faces the 6th biggest army in the world in South Korea. Could the North win an all-out war? Probably not, but that does not mean it couldn’t do serious damage to South Korea. The U.S. is taking the threat seriously because it has been flying training missions with B-2 bombers as well as stealth fighters. The B-2 is designed to carry nuclear weapons, and some in Congress are talking “preemptive strike.” Mistakes can happen, and when countries are armed with nuclear weapons, it amplifies this dire situation.
The Middle East is on fire, and the center of the blaze is Syria. There were more reports that the conflict is spreading to neighboring countries. It was reported that Syrian jets bombed targets in Lebanon. There have also been reports in recent months of attacks into Turkey and Israel. Speaking of Israel, the problem of Iran’s nuclear program is nowhere near being resolved, and once again, there were warnings given that Iran is only months away from getting enough material for a weapon. Iran says its nuclear program is for the peaceful production of energy. That too is a dicey situation with no clear peaceful resolution in sight.
Don’t think this banking crisis is over—it’s not. The situation in Cyprus is far from over, and people like James Turk are warning a big bond default from a country like Argentina could send the financial system into shock. Other financial experts like Jim Rogers, Peter Schiff and Egon Von Greyerz all warn that bank deposits will be up for grabs in the next financial meltdown. Greg Hunter analyzes 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.