Friday, May 31, 2013

Greg Hunter"Weekly News Wrap-Up 5.31.13"

"Weekly News Wrap-Up 5.31.13"
By Greg Hunter’s

"The Middle East is inching towards war. In Syria, the Assad regime wants high-tech Russian missiles to thwart new efforts for a no-fly zone that the Obama Administration may be calling for.  Israel says if the Russians deliver them, they will attack and knock them out. The missiles would make a no-fly zone very difficult. Assad says he has the S-300 missiles, but the U.S. says not yet.  More than 70,000 Syrians have been killed in more than two years of civil war. Syria has said it will attack Israel if Israel attacks again. Senator John McCain met with Syrian rebels to discuss arming them. A large part of the rebel effort is al-Qaeda, a known terrorist group. Lawmakers say they want to vet the rebels, but how are you going to stop al-Qaeda from getting weapons? 

In news on the other side of the Middle East, there is a new State Department report that claims Iran is increasing sponsorship of terrorism. A big benefactor is Hezbollah. That’s who is helping Assad in Syria stay in power. Will this turn into an excuse to attack Iran?

Embattled Attorney General Eric Holder has invited many mainstream media (MSM) organizations for an “off-the-record” conversation, and most outlets have declined to allow the White House to engage in spin and pressure to get the media back in line. FOX, CBS and the New York Times are just a few that have said no to “off-the-record” conversations. Wow, the MSM acting like journalists again. How refreshing. Speaking of AG Holder, some House Republicans allege Holder may have committed perjury when he told the House that he was “not involved” with the potential prosecution of the press. Holder allegedly signed off on a search warrant, calling a FOX News reporter a “criminal co-conspirator.” The FOX News reporter was not charged with any crime. 

Two more countries are planning to trade with China and not use the U.S. dollar. France and New Zealand will be trading with China using the Yuan sometime in the future. This is another step in the U.S. dollar losing its reserve currency status. It could be an inflationary disaster for the U.S., and some say it’s closer than some would admit. The only question is when.

The stock market is in record territory. The MSM says the Bull Run is on “solid footing.” The MSM always fails to mention all the QE, or money printing, by the Fed in the last few years. The latest “open-ended” QE is $85 billion a month, or a little more than $1 trillion a year. The data this week would throw cold water on a vibrant economy. Unemployment came in higher than expected.  Home sales lower than expected. GDP was just revised lower, mortgage rates are up and interest rates are rising. Analyst and trader Gregory Mannarino predicts, “The Fed’s go-go juice is going to turn into poison.” I couldn’t agree more.

Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-Up.”

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