China Financial Collapse, Bitcoin Black Eye, Ukraine-Russia War and Bernanke Memoirs

Pro-western protesters have force the Ukrainian President to flee, and now there is a new president who is partial to the West. My prediction is Russia will do everything in its power both covertly and overtly to keep Ukraine under its influence. This includes outright invasion if necessary. Ukraine has a major Russian seaport. If Syria could start a world war, then Ukraine is Syria on steroids. In Ukraine, the West is playing with nuclear fire. I wonder, is Ukraine payback for blocking the U.S. intervention in Syria? Is this a way to tie up Russia so Syria can be toppled? Who knows, but the global war probabilities are increasing, not decreasing.

China has turned into another global collapse wild card. Finance expert and money manager James Rickards says, “. . . investors are in for a rude awakening when they realize how much of the China story is false and how quickly it may come unraveled.”

Bitcoin got another black eye this week when Japan based so-called “Mt. Gox” Bitcoin exchange went under, taking $400 million worth of Bitcoins with it. I have warned that Bitcoin is risky. Its price has been all over the map in the last year and has had several hundred dollar swings in value both up and down. I do not like Bitcoin for many reasons. One of the things I hate about it is the identity of the programmers who invented it are still anonymous. This is supposed to be cutting edge currency. It’s like Thomas Edison wanting to stay in hiding after inventing the light bulb. Why the secrecy?

Join Greg Hunter of as he analyzes these stories and more on the Weekly News Wrap-Up.