Friday, September 28, 2012

Greg Hunter, "Weekly News Wrap-Up 9.28.12"

"Weekly News Wrap-Up 9.28.12"
by Greg Hunter’s

"There were lots of fireworks at the United Nations this week. Yesterday, the Prime Minister of Israel, Benjamin Netanyahu, was drawing a red line of his own on a crude picture of a bomb. Don’t laugh, because he was really talking to the U.S. audience in illustrating his point that Iran is getting close to building a nuclear bomb. It was simple but effective. Earlier in the week, Iran’s President Mahmoud Ahmadinejad rejected charges that his country was becoming a nuclear threat to the world. He cleared up the controversy about the quote “wiping Israel off the face of the earth” and said he was talking about “occupied territories.” Ahmadinejad says he has long been misquoted.

Ahmadinejad keeps saying he wants peace but contradicted himself earlier in the week when he said Israel will be “eliminated” because it does not belong in the Middle East.  President Obama also addressed the UN and told Iran that the time to resolve the nuclear standoff peacefully was “not unlimited.” Obama also said, “...United States will do what we must to prevent Iran from obtaining a nuclear weapon.”  By the way, Iran test fired anti-ship missiles this week.  The world is inching towards war, not away from it. We’ve all heard about the “unlimited” QE (money printing) by the Federal Reserve it says is to revive the economy.

Now, the Fed has announced it is ready to bail out the EU if things spiral out of control. The ECB also has an “unlimited” printing money policy. Is there any wonder why gold is surging and everyone is predicting higher prices? It appears it is not working because the numbers for durable goods are in for August, and they plunged more than 13%. I have been telling you this for a couple of years that there is no real recovery, and there is not. John Williams at calls the economy “bottom bouncing at best.”   Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-Up.”

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