Weekly News Wrap-Up 8.24.12
Greg Hunter’s USAWatchdog.com
Remember how I’ve been telling you there is no real recovery? Dr. Marc Faber said this week he thinks there is now a “100% chance” of a global recession. How can Faber make this call and we have any meaningful recovery? We simply do not, and what we have are bailouts and bottom bouncing. Faber has made many monster calls on the economy. In 2009, he told everyone to buy stock, and the market more than doubled. I would not bet against him. Maybe that’s why the Fed is signaling it will, once again, start quantitative easing or money printing. It meets at the end of the month at Jackson Hole, Wyoming. Expect a big announcement then.
This may also be why gold and silver have been rising in price lately. It looks like some sort of gold standard and an audit of the Federal Reserve are going to be part of the Republican platform this November. If the Republicans are serious, they may have a chance of capturing Ron Paul supporters which are young voters.
Tensions are still high in the Middle East. Fighting is still raging in Syria, and the rhetoric is still at a fevered pitch between Iran and Israel. Last week, a senior Iranian commander was quoted as saying he would “welcome” an attack because it would give Iran a reason “get rid of” the Jewish state “forever.”
Finally, I am in the Midwest this week, and the drought here is serious. The crops have been hit hard. A friend of mine says he expects to lose 70% of his crops. Other people are expecting to get zero, and are bush hogging the corn fields. I cannot believe this isn’t going to show up soon in much higher prices for food. If this drought continues into next year, the world will be in trouble. Join Greg Hunter as he gives his analysis of these stories and more in the Weekly News Wrap-Up.
Jill, with a few exceptions (such as areas in the Piedmont around Greensboro and Raleigh, this has been a good year for the corn crop in NC. The average yield is up 10%. With prices of corn up nearly $3 per bushel, corn farmers in our state have had a good year on the whole.
Quoted from your Marc Faber article, “Growth in the U.S. is also falling off. “The U.S. economy has decelerated and I don’t see much growth in the next six to 12 months,” Faber said.
There’s also little the Federal Reserve and other policy makers can do to turn the U.S. economy around. “I think that if you look at the injection of liquidity and the intervention by the Federal Reserve and the Treasury with fiscal measures, it has already impoverished the U.S. economy,” he said.
It would take “massive easing, a huge balance sheet expansion,” to boost economic activity in the U.S., according to Faber.”
Jill, that is what the FED is getting ready to do. Next week the FED will announce or let leak in Jackson Hole, WY that QE3 will commence and leave open the fact that it may never stop or open ended as they talk. Massive easing will commence shortly, then massive inflation that will follow in about 18 months out. Look out because with big “easing” and the farm issues currently experience in the country prices will inflate like this America has never seen before. Then probably price controls, martial law to enforce them, or a war to end all wars may follow that. Hold on, its going to get a little rough before it settles out. Historians will write that finally the world discovered you can’t borrow yourself into wealth.
Gold to be audited at Fort Knox? I will believe it when I see it. You know how campaign promises go. To remove all doubt, the first requirement is that it is audited by an independent source. Not the fox in the hen house so to speak. Second. That the gold be assayed. Remember when those gold bars with tungsten centers showed up in the Chinese bank. Third. The count may be right but are the serial numbers right? Fourth. Does the gold really belong to the USA and not owned by a foreign country. Fifth. I want an outside news source with live coverage of the audit. Sixth. I want people like Greg Hunter to be present and Mr.Murphy, Mr.Celente, Mr. Farber and a few others that
can tell us for sure what is there. No loop holes. No National Security claims. Surround the place with tanks and put a division of soldiers to guard it while it takes place. Fly some helo-gunships in the air, I don’t care, but “Get Er Done”.
I have had it with Bernacke, Geithner. Wall Street, Soros, Rothschild and all those with thier influence and manipulation. If the Republican Party is going to put an Gold Audit and Gold Standard plank in at the convention, they better be able to go “ALL THE WAY” and not just pay lip service.
It doesn’t matter if the gold is ‘owned’ by a foreign country, as it will simply be confiscated.
Mittens’ Audit the FED? Fire Bernanke? Obummer made a lot of campaigne promises too as I recall. He was going to undue everything Baby Bush did. Barry took Bush’s policies to a whole new level. I fully suspect Mittens’ to do the same. Write-in Ron Paul and send a message to these vipers in Washington.
Hey Greg, I enjoy your show , watch it all the time,but here in the midwest we call that a “ear of corn” a “corncob” is the part of the ear on which the kernels grow. I just thought you should know. Thanks, Phil
Monsanto corn should not look that bad. maybe theres something new in the chemtrails.Just a thought..When corn becomes more expensive then gass will the goberment still be putting it in with the petro? I think so..to subsidize monsanto sales of seed. As to my origanal comment, Chemtrails are efecting the weather with the use of haarp. This is big news,and should be looked at by main streem media..It never will.
Thanks for a great weak of honest reporting.Have a relaxing weakend.
Sorry to hear your freinds may lose 70% of their crops. Being a farmer is not for the weak. To have Mother Nature & Uncle Sam as your business partners, it is a wonder we have any farmers.
Dr. Farber on his blog is also predicting that Germany is about to go into recession as its growth is really slowing down as we speak. Germany may lead the way for global recession. If it does how can it continue to bail out the Euro (Spain, Greece, Italy, etc.). The Germans will not stand for going into debt to do that. Recession in Europe will immediately lead to one here then Asia; global. Its looking like the bottom bouncing as you say might just create another bottom to bounce along.
Greg, great cartoon. And this nut is on the science committe?
Greg, Video looked fantastic. My husband and I drove from New Bern to Goldsboro, NC. Very rural and we passed mile after mile of brown stunted corn stalks. The only farmers that seemed to have a good crop were the ones that had irrigation and there are few that can afford to invest that kind of big money in this area.
With all the corn being diverted to ethanol production to put in gas, what are they planning to feed us?