By Greg Hunter’s USAWatchdog.com
I warned last week about the kidnapping and murder of three Israelis and revenge killing of a Palestinian teen sparking violence in Israel. My fear is now been confirmed with Hamas rocket attacks on various targets in Israel. Israel is making counter attacks that have claimed the lives of dozens in Gaza. One big development is the rockets that Hamas is using are now more powerful and have up to a 100 mile range. In 2012, the rockets had only a 50 mile range. Israel has called up at least 40,000 troops and is getting ready for a ground assault in Gaza against Hamas. Now, I am worried about a much wider war being sparked in the Middle East. Does Israel also see a much wider war coming, and is it going to knock out Hamas now? Another big development: ISIS, or the Islamic State in Western Iraq and Eastern Syria, has acquired both chemical weapons and nearly 90 pounds of nuclear material. Is Israel worried about chemical weapons or nuclear material ending up in a Hamas rocket? I think the answer is clearly yes, and this will get much worse before it gets better. There are attempts at brokering a cease-fire by President Obama, but I don’t expect that until heavy damage has been done to Hamas’ ability to fire rockets into Tel Aviv.
In Ukraine, it looks like pro-government forces have the upper hand and have been winning over the pro-Russian separatists. I do not know how long this is going to last before Russia steps in. Russia has openly worried that what the Ukraine government might do is the same “ethnic cleansing.” Top Russian officials have clearly stated it will not allow that to happen. I think, at some point, Russia will cross the border and put a stop to the killing and the Ukraine army. It will be a total mismatch.
Closer to home on the southern U.S. border, illegal aliens continue to cross over by the thousands. Texas Governor Rick Perry forced a meeting with President Obama that some say he laughed through. There are photos of the President laughing on one side of a table and Governor Perry and his lieutenants on the other side–not smiling. Obama wants Congress to give him $3.7 billion in emergency money, and Republicans are balking because they do not trust him to actually close the border. Perry and others want the border closed ASAP and have asked the President to roll out the National Guard to do it. President Obama is not budging and is allowing the crisis he caused to fester. It looks like some sort of perverted negotiating tactic that has some Democrats very worried about the mid-term elections. I can’t see how this is a winning strategy. Even African Americans are questioning allowing this flood of illegal immigration.
On the economic front, Portugal’s largest bank missed a bond payment and defaulted on debt. You think that does not affect you? Think again. The global banking system is interconnected. This default could cause a daisy chain of defaults that could and probably will hit the global banking system. Gregory Mannarino of TradersChoice.net says the “entire system is malignant” and backed full of sour debt that is “unimaginable.” He says, “This is Europe’s Lehman Brothers moment that is multiple folds larger.” The default of Lehman caused the 2008 meltdown, and Mannarino says you might want to be taking some money out of your bank. (Click here to see Mannarino’s entire video.) It has been widely reported that Europe plans to take depositor money in the next banking crisis, and that will also hit U.S. banks.
Finally, former New Orleans Mayor Ray Nagin was convicted of bribery, fraud and money laundering. He will be serving the next ten years in jail. If Nagin can get ten years for money laundering, why hasn’t one big banker been jailed for laundering money for terrorists such as Iran and Sudan? That’s not just crime, but treason. Of course, there are many other crimes such as JP Morgan who admitted to helping Bernie Madoff with his $60 billion fraud. If Nagin can get 10 years for petty money laundering, why the heck can’t big bankers be convicted for laundering money in the billions of dollars?
Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.