Greg Hunter
USAWatchdog.com
November 12, 2010
- A d v e r t i s e m e n t
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The G-20 kicked off in Seoul South Korea this week. It seems to me everyone should be talking about the U.S. defaulting on its obligations by massive money printing. Instead, the group of twenty finance ministers and central bankers from the most important industrialized and developing economies of the world has been sidetracked. There is the threat of a North Korean attack on South Korea. The Guardian UK reports, “The British delegation is taking seriously the potential threat of an attack on the G20 summit by North Korea, whose border is just 50 miles away from the gathering in Seoul. A diplomat said: “There has been speculation that the North Koreans will attempt some kind of disruptive incursion into South Korea.” (Click here for the complete Guardian UK story.)
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Then, there is the latest PIIGS (Portugal, Italy, Ireland, Greece and Spain) problem that has popped up. It seems Ireland has the Group preoccupied with another bailout in the EU. Reuters reports, “Ireland’s issues have moved to the forefront of currency concerns recently after taking a backseat to U.S. Federal Reserve policy for several weeks. Yields on 10-year Irish bonds rose well above 8 percent to a record high over comparable German debt, the euro zone’s standard. Investors are worried Ireland would not be able to cut spending as planned and may require a bailout, with bond holders forced to absorb losses.” (Click here for the complete Reuters story.)
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