Financial War, Russian Shooting War, Phony Fed Stress Test, Obama • ObamaCare deadline extended
Reports are Russia has now amassed as many as 80,000 troops on the
Eastern Ukraine border. Russia says they are conducting war games and
training, but U.S. military sources openly worry about an invasion. I
do not understand why President Obama is saying that Russia is only a
"regional power" and is "threatening its neighbors out of weakness." So
far, that has not been Russia's MO. They took Crimea with hardly a
scuffle. The U.S. and the West has imposed some weak sanctions, and
Russia is countering by increasingly moving away from the U.S. dollar in
terms of trade.
The Federal Reserve conducted bank stress tests
and five big banks failed, including Citigroup. They are doing this to
make everyone think the banks are "safe." Here's the farce of it all.
Banks have been allowed phony accounting since 2009. The banks are not
as "safe" as the Fed claims.
Finally, five more people were
convicted in the Bernie Madoff fraud that prosecutors estimate to be a
total of $65 billion. The prosecutor said that the Madoff Ponzi scheme
"could not have been the work of one person." He is correct, but it was
much more than Madoff and his crew. JPMorgan reportedly paid big fines
and restitution to avoid criminal prosecution.
Join Greg Hunter of USAWatchdog.com as he analyzes these stories and more in the Weekly News Wrap-Up.
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