The Middle East, namely Syria, continues to dominate the news in my world. It is because the threat of a wider war is increasing and not decreasing. President Obama met with Russian President Vladimir Putin about Syria and the civil war that has taken the lives of more than 90,000 Syrians. How did the meeting go? In a word, bad. No agreement was reached to end the war, and Russia will not agree to anything that removes the Assad regime. So, it appears to be “game on” in the war front as the U.S. arms the rebels which are, in effect, al-Qaeda terrorists.
This week, Fed Chief Ben Bernanke just hinted at slowing down the pace of money printing at the end of this year and bam!—we got a 500 point plus sell-off in the stock market. Let’s face it, the stock market is being propped up by the Fed, and the economy is so weak that even a hint of slowing down the easy money train and the market throws up. He also said he’s only going to do that if the economy continues to improve. I don’t know what numbers he’s looking at, but the economy is bottom bouncing at best. Many countries in the EU are in a depression. Now, China is having problems with growth and its banks. I don’t see how the Fed is going to stop the money printing in the face of little to negative real growth.
Gold also took it on the chin this week. It lost nearly $100 an ounce. Marc Faber says at these prices, mine production is going to be reduced. I look for a pretty big turnaround in gold and stocks when the Fed signals it will continue to print money. I think the Fed wanted to see what would happen if it hinted at slowing down the printing. It got its answer—crash.
Big news with NSA this week as it told its side of the story. It basically said it needs this massive surveillance program to keep America safe from terrorists. It said it stopped 50 terror attacks on places like the New York Stock Exchange, but could not give many details. I guess we will just have to trust an agency that had a secret spying program that takes in massive data of all Americans.
This brings me to my final thoughts on terror. The government says we are fighting terrorists; yet, this week, we find out the U.S. is going to start talks with the Taliban in Afghanistan. These are the same people who poison little girls who want to go to school, or they shoot them in the head for speaking out. Then, there is Syria. We are arming the rebels there, and the rebels are al-Qaeda terrorists. Also, this week, Edward Snowden was called a traitor who hurt national security for exposing a huge program that spies on Americans. But when Deloitte Financial Advisory Services gets caught helping a big European bank launder money for Iran, which is on the terror list, it just gets a fine and a one year suspension. Isn’t helping enemies launder millions of dollars treason? Doesn’t that help countries on the terror list? They want to imprison or kill Snowden, and they just fine consultants that help launder money for the people who support Hezbollah. War on terror. Right, keep telling us that.
Join Greg Hunter as he brings you his analysis on these stories and more in 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.