Socio-Economics History Blog

Socio-Economics & History Commentary

Rick Santelli – Time for a Chicago Tea Party !

  • Rick Santelli calling for a Chicago Tea Party in July ! He’s the Man !!!
  • The filth and dirty trash in Congress are leading the nation to hell! Time for more to speak up and say we will not go quietly into the night ! “How about we all stop paying our mortgages! It’s a moral hazard !

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February 20, 2009 Posted by | Economics | , , | Comments Off

Hospice for US$ – Launch for Gold !

gold-chart-18-feb-09

  • Jim Willie, of the Hat Trick Letter, is always politically incorrect, but fascinatingly true. His analysis gives insights you can find no where else. His writing style is quick pace and full of life and deep meaning. He comments in Russia’s Post U.S. New World Order Blueprint :
      
    US Dollar Essentially Dead
    The USDollar is essentially dead, the Davos Forum its funeral wake. It is enjoying a physical erection in the medical morgue, a rise in a death dance ceremony. US leaders refuse to accept the reality. They desperately need its continuation for assistance in funding the USGovt monstrous deficits. Western leaders struggle to admit the reality. Russian leaders, Chinese leaders, and Arab leaders (more quietly) openly admit the reality. Read the billboards, as the Davos Forum offered an entire row of them to observe. THE BEST STRESS METER IS NOW GOLD.Notice how gold rose all through the Davos Forum gathering. Nothing was solved. The Putin Blueprint for the ‘Post-US World’ shook up the currency markets, as gold reacted. The gold price is breaking out in all major currencies, except in USDollar terms. It just hit a new euro high.
     
    A cherished contact with deep global experience had some very strong words about Davos and the Putin Blueprint. He made additional comments about the Wen trip across major European capitals. In an important message, he said,
    “Read in between the lines of Putin’s speech and you find all the hints you want. The Chinese and Russians are burying the US alive. The Japanese, Germans, and Gulf States keep a very low profile for the moment. The decisions have been made: wait for 2010 . They will use the unfolding chaos to introduce the new currency basket and trade rules…
      
    There is a brand new system being designed that will borrow from the past and apply 21st century tools for barter / counter trade / excess capacity etc. An Exchange Platform will cut out the banks altogether … [Chinese Premier] Wen delivered his speech in Davos and went straight to Berlin where they put the final touch on the new world currency basket , sponsored by Berlin-Moscow-Beijing-Tokyo-Riyadh. Moscow and Berlin already have a massive counter trade / barter trade agreement in place, and Beijing was eager to joint that platform as well.” The new global currencies are planned for launch in January 2010. They will be launched amidst growing chaos. Events up to that time will be tumultuous.
      
    Very Bullish Gold Chart
    (See chart at top of post) The gold price has completed an important U-shaped reversal. Its low of 710 and top at 980 indicate a target of 1250 next. Notice the crossovers of the crucial moving average series. Both the 50-day MA and 100-day MA have run above the 200-day MA, very bullish. Technical chart traders use them to direct traffic flow. The cyclicals are aligned with strength. The fundamentals could not be better for gold than at any time in a few decades. All major governments are ruining their currencies in a desperate attempt to avoid economic collapse after bank system insolvency has rendered their nations hostage to dangerous accommodative monetary policies. All major currencies are now at risk simultaneously. The gold price breakout over 1000 again could come when the Dow Jones Industrial Index and the S&P500 index each breach critical support. They have been dancing at that support for days. The USEconomic field has become a swamp, and it is sinking. It should sink the US stock market.
     
    The USDollar should not be the true focus of attention. Paradoxically, as it dies a horrible death, its reserve currency status ensures it might be last to crumble. All other currencies are at risk, except perhaps the Japanese yen. The focus of attention should be directed to gold & silver. The pundits, anchors, and supposed experts believe that the rise in the gold price means that price inflation is an imminent but hidden threat. THEY ARE SO WRONG. The threat is of a collapsed global financial foundation, complete with rising chaos from no current viable alternative, as the Untied States finds itself tossed into a dungeon. The process is slow, but the pace is accelerating. The signpost in the dungeon is marked ‘Third World’ with full shame. The charges will go without trial, as the marketplace is brutal. But bank ruin, institutional corruption, exported bond fraud, permission of counterfeit rings, protection of crime syndicates, and abused global reserve currency custodial responsibility lie at the core. Most scrutiny of charges will be conducted much later, when too late, in an examination of the wreckage.
     
  • America is heading towards 3rd world country status.
     
    The broken bank system, crippled households, endless housing decline, corporations in retreat, and federal debt that cannot be financed by foreign creditors, these work together to guarantee that the Untied States does not just enter the Third World, but that the US will be thrust quickly into the Third World . Imagine a criminal in old colonial times being thrown down a staircase into a dirty dank dungeon, landing with many bruises, a bloody mouth, and perhaps a broken arm. The new US leadership is already making huge errors. Their lack of integrity is for now a well-kept secret, since the camp they emerged from is foul. Third World nations are not known for integrity or sound judgment. At a time when the US, UK, and European banks face dire need for bailouts and rescues, one might consider the specter of entire nations requiring bailouts, not just their banks. Iceland gave notice. Watch in horror as the risk rises for failures of states. 
      …… 
    The reality is that foreign creditors have already announced to key USCongressional members that they will not be purchasing any USTreasury Bonds for several months. Whether active boycott or inability from lack of trade surplus, it does not matter. Dire straits come to the US shores very soon.

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February 20, 2009 Posted by | Economics | , , , , , | Comments Off

Major Crash Alert – Dow Jones (DJIA) to Plunge to 4500 !!

  • We are at the point where the DJIA will likely crash and many people will get burnt. My gut feeling and simple chart analysis tells me we are close to a movement down to 5800 region and thereafter a movement down to 4800-5000 region. So be prepared for a major plunge in the DJIA in the coming weeks.
     
  • Mike Paulenoff is of similar opinion, Dow Jones Monthly Stock Chart Points to 4500 Crash  :
     
    Not much commentary is needed when viewing the monthly chart of the Dow. We only need an active imagination. All I will say here is that I have projections from this monthly chart to 6800-6500 and then to 4500. Since this is a monthly chart, however, we need to realize that the timeframe for such a move, and the volatility that could emerge between 8500 and 7500, add some definite challenges to capitalizing from such a move in trading the Dow Diamonds Trust (NYSE: DIA) or the ultra long or short Dow ETF instruments. 
     
    crashalert-dowjones

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February 20, 2009 Posted by | Economics | , , | Comments Off

Zbigniew Brzezinski- Massive Unemployment & Increasing Risk of Riots !

  • Dr. Zbigniew Brzezinski former National Security Chief of Carter administration, was on Morning Joe (17 Feb 08)  to discuss about what’s wrong with the economy and his ideas for turning it around. He sounds a warning about massive unemployment and class warfare. A backlash is coming against all these banksters that have ripped off the country.
     
  • The breakdown of American society is around the corner. Think Iceland, Lithuania, Latvia and perestroika Poland in the late 80s early 90s. 
     
  • Admiral Michael Mullen, chairman of the Joint Chiefs highlighted his concerns recently. Tom Philpott reports:
      
    Though he’s a warrior, not an economist, Adm. Michael Mullen, chairman of the Joint Chiefs of Staff, ranks the financial crisis as a higher priority and greater risk to security than current wars in Iraq and Afghanistan.
      
    “The scope of it is, to me, mind-boggling,” said Mullen in an interview, hours before President Obama made his first visit to the Pentagon as commander in chief.
     
    Mullen said it is a testament to the nation’s strength and to the severity of the fiscal crisis that Congress last fall swiftly approved a relief fund of $700 billion to bail out banks and thaw frozen credit markets. The amount nearly matched last year’s defense budget, Mullen noted, contrasting the speed of that action to the long, detailed process of setting military requirements, debating programs and passing a defense budget.
     
    That’s “not even to speak of discussions, literally today, of a stimulus package that’s going to be another eight or nine hundred billion. I think that’s going to affect all of us much more than personally,” Mullen said. “I’ve been concerned and remain concerned about the impact of this on security,” he said. “It’s a global crisis. And as that impacts security issues, or feeds greater instability, I think it will impact on our national security in ways that we quite haven’t figured out yet”
     

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February 20, 2009 Posted by | Economics, Social Trends | , , , , , , | Comments Off

Britain on the Brink of Collapse!

  • Standard and Poor (S&P) has warned Britain that its ‘AAA’ rating may be cut! This will be calamitous, interest rates will go up and fund managers will sell its debt. Some funds have policies that bar them from buying non ‘AAA’ sovereign debt. This warning is coming at a time when Britain needs to borrow more money.
     
  • Interest rate is already close to zero. The Bank of England is seriously pushing for Quantitative Easing as options run out. Printing money out of thin air !  
“I care not what puppet is placed on the throne of England to rule the Empire, … The man that controls Britain’s money supply controls the British Empire. And I control the money supply.”
- Baron Nathan Mayer Rothschild

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February 20, 2009 Posted by | Economics | , , , , , , | 1 Comment

Eastern Europe Contagion Fear ! Ukraine Crumbling !

  • As mentioned in my past 2 posts :
     
    Next Wave of Banking Crisis to come from Eastern Europe
    Eastern Europe Economic Collapse & Looming Debt Defaults
     
    The panic is getting palpable for EU member nations.
     
  • The fear is growing that any day now, the falling dominoes of Eastern European countries will cascade into a rushing tsunami and collapse Western Europe!
     
  • The Telegraph reports in EU mulls action as Ukraine crumble triggers contagion fears for Europe:
      
    Europe’s institutions are scrambling for ways to prevent financial contagion from Ukraine and the rest of Eastern Europe from setting off a full-blown banking crisis in Austria, with risks of systemic contagion across the eurozone. 
     
    Joaquin Almunia, EU’s economic commissioner, said Brussels is ready to co-ordinate a pan-EU response to contain the crisis before matters get out of hand.
     
    “I share with the Austrian authorities their concern about the situation of these economies. Everybody shares their concern about the risks involved. We are extremely concerned about the difficulties with the Ukrainian government,” he said.
     
    West European banks have lent roughly $1.6 trillion (£1.13 trillion) to the region, led by Austrian, Swedish, Italian, Greek, Belgian, and Swiss banks. Almost $400bn must be rolled over this year in hostile markets.
     
    Lithuania’s president Andrius Kubilius echoed the warnings on Wednesday. “We are worried about what can happen in Ukraine and Russia. The collapse of one of these markets would have a very negative impact. It would be good to see a more co-ordinated approach,” he told the
    Financial Times.
     
    Ukraine’s travails appear to be snowballing out of control after the central bank said the economy contracted 20pc in January year-on-year, with a dramatic 34pc slide in industrial production. Valery Lytvytsky, the bank’s top adviser, said the collapse is the worst in recorded Ukrainian history, exceeding the darkest days after the Bolshevik revolution.
     
    The currency has fallen 40pc since the crisis began, a crippling blow to companies with large debts in dollars or euros. Three banks have failed.
     
    Credit default swaps measuring risk on Ukraine’s state debt rose to panic levels of 3,500 on rumours of imminent default following the refusal of the International Monetary Fund to disburse the second tranche of its $16.4bn rescue package. The IMF said the government had failed to rein in public spending as agreed.
     
    Premier Yulia Tymoshenko insisted there was no danger of default. “I would like to tell the whole country that the state is paying all its credits,” she said.
      
    She appeared unrepentant over the loss of her finance minister, Viktor Pynzenyk, who resigned this week saying he was no longer willing to serve as a political pawn. “Not all government officials are capable of working in difficult circumstances. The weakest ones abandon the battlefield,” she said, in comments bordering on political farce.
     
    Neil Shearing from Capital Economics said Eastern Europe as a whole is likely to contract by 5pc to 10pc this year. “It’s pretty grim and it creates the risk of a retreat into populism,” he said.
     
    The political risks in Ukraine are huge. The country has a large Russian minority, much of it living in oblasts near Russia’s frontier, creating an open door for the Kremlin to intervene if the crisis leads to civil disorder.
     
    Lars Christensen from Danske Bank said ex-Soviet bloc had been a casualty of the blanket extension of guarantees to banks across Western Europe. “East Europe’s governments are not strong enough to offer such guarantees for their own banks. This has increased relative risk.” he said.
     
    The European Bank for Reconstruction and Development said it is mulling $500m in aid to boost Ukraine’s banks, but first the country has to restore credibility.
     
    “We see an urgent need for conducive, comprehensive actions by the Ukrainian authorities,” EBRD chief Thomas Mirow said. 

     
  • How bad is this unfolding crisis? Very very bad ! Nightmarish ! Ukraine is but 1 domino. There are alot more dominoes that are set to fall. You can put out 1 fire but can you put out tens of firestorms in Eastern Europe? I am not optimistic. This is a danger alarm going off! The world is a few weeks (maybe even days) away from catastrophe. Wakey ! Wakey !!

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February 20, 2009 Posted by | Economics | , , , , , , | 5 Comments

G7 sets sights on New World Economic Order

“Economic crises have been produced by us for the goyim by no other means than the withdrawal of money from circulation.”  - Protocols of Zion – 20

  • I am of the opinion that t the current crisis is created by the Illuminati elite to drive the world towards their 1 World Government fascist police state. The bells are chiming louder for this New World Order, New World Financial Order, New World Economic Order…
     
  • This plan has been in place for a long time. Consider the Protocols of Zion, a Satanic manual delineating the plan for global conquest. It reads very much like what is happening in the world now.
     
  • Now we hear more noises from our leaders pushing for this New World Order. G7 sets sights on new world economic order :
     
    The world’s richest nations called Saturday for urgent reform of global finance to save the world from the economic devastation that is dragging more and more countries into recession.
     
    Italy’s Finance Minister called for a “new world economic order” as he wrapped up the crisis meeting of finance leaders from the Group of Seven leading economies over which he presided here.
     
    In a joint declaration, the G7 called for “urgent reforms” of the international financial system. Tremonti said a so-called set of “legal standards” discussed in Rome would be presented at a meeting of 20 key advanced and emerging economies (G20) in London in April and a summit of the Group of Eight (G8) world powers in July.
     
    “A new world economic order might seem rhetorical,” he told reporters. “But it is a true goal we should be aiming towards… today right here in Rome we’ve embarked on a very significant journey, both technical and ethical.”
     
    The G7 delegates in a joint statement vowed to avoid protectionism as they seek to stabilise the tottering world economy and financial markets and said stabilisation of the world economy was their “highest priority.”
     
    The global crisis “has highlighted fundamental weaknesses in the international financial system and that urgent reforms are needed,” the statement said.
     
    US Treasury Secretary Timothy Geithner vowed that his country, the biggest economy in the world and the source of much of the financial drama in recent months, would work with other nations for a consensus on reforms.
     
    “We need to begin the process of comprehensive reform of our financial system and the international financial system, so the world never again faces a crisis this severe,” Geithner said after the talks.
     
    Dominique Strauss-Kahn, head of the International Monetary Fund (IMF) — the body coming to the rescue of some crisis-hit countries — said restructuring banks damaged by the credit crunch was the main problem facing governments
    .
     
  • The Illuminati’s philosophy is : Order out of Chaos. They create the crisis – chaos and when the world react in horror and fear, they come out with their pre-planned solution. So they end up looking like saviors. But in reality they are the cause of the world’s problem. To understand more on this, you may want to read Paul Joseph Watson’s similarly titled book : Order Out Of Chaos .

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February 20, 2009 Posted by | Economics, EndTimes, GeoPolitics | , , , | Comments Off

Lindsey Williams – Global Bankruptcies and One World Government

Part    4      ,    Part    5     ,     Part    6  
  • Pastor Lindsey Williams on the Alex Jones show (18 Feb). He gives us his latest update on what the Illuminati elite is planning for the world for the next 1-2 years.
     
  • Pastor Williams :
     
    - Dubai will be a ghost town
    - Oil prices will hover at or below US$50/barrel for the next 1-1.5 years. US states’ tax revenue have plunged 75% because of the drop in oil price from US$147 to under US$40/barrel.
    - Middle East oil producing nations are falling into bankruptcies.
    - This crisis created by the Satanic Illuminati elite will not just affect America and the Middle East. It is a planned global bankruptcy.
    - Eastern Europe is in deep trouble and falling into bankruptcy.
    - Russia will be hit hard but will rise from the ashes as a much greater power.
    - America will collapse into chaos, hyper-inflation, food shortages, riots …. and will take many years to recover from this crisis.
    - When the USD collapses, American’s will be taking a wheel barrow of USD to buy a loaf of bread. Americans will beg the ruling elite for a new currency. The Illuminati elite already has this new currency planned and awaiting implementation.
    - We will see a new global economic and financial order. The plan is to bankrupt the entire world and buy up assets on the cheap. The Illuminati is driving the world towards a 1 World Government ruled by them.
     
  • Will we see global enslavement and ’666′ in our life time? It is getting alot closer.

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February 20, 2009 Posted by | Economics | , , , , , , , , , , | 9 Comments

   

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