Socio-Economics History Blog

Socio-Economics & History Commentary

9/11: Total Proof That Bombs Were Planted In The Buildings!

September 9, 2010 Posted by | History | , , , | 4 Comments

9/11 Coincidences!

September 9, 2010 Posted by | History | , , , , | 3 Comments

Professor Steven Jones: 9/11 Vancouver Canada Conference. Exposing The New World Order And Reclaiming Our Destiny!

September 9, 2010 Posted by | History | , , , , | 3 Comments

Professor Steven Jones: 9/11 Controlled Demolition Using Thermate! Exposing False Flag Terrorism!

September 9, 2010 Posted by | History | , , , | 3 Comments

Dr. Kevin Barrett: 9/11 False Flag Attack! Controlled Demolition!

September 9, 2010 Posted by | History | , , , | 1 Comment

Bob Chapman: U6 Unemployment Rate At Depression Level 21.4%. Gold Is Increasingly Behaving Like World Reserve Currency!

September 9, 2010 Posted by | Economics | , , , , , , , , , , | Comments Off

Jim Sinclair: Strapping In For The Big Move In Precious Metals!

  • Is gold and silver about to explode upwards? If so, by how much? Maestro Jim Sinclair thinks so and he is not alone in this. James Turk:
     
    “Friday’s action was confirmation that the pattern has changed. …. The big money recognizes that the train is leaving the station. .. This is exactly the type of trading action you would expect to see before the big breakout….  So, I am still expecting that upside explosion in silver as soon as we get above $20.5 to $21. …. The action in gold is consistent with what is happening in silver…  it will break into new high ground as well…. very rare to see this type of trading action… it means prices are about ready to take off to the upside.”
     
  • Patrick Heller:
      
    There are several factors when put together signal that the physical silver market could be on the brink of a panicked buying frenzy.
     
    • In years past, bargain-hunting
    buyers of gold and silver would often wait weeks for a market correction or a manipulation to drive down prices and then make their purchases. A year ago, the bargain shoppers were only waiting about one day to jump in. Right now, there are obviously a lot of deep-pockets buyers who will make purchases within hours of any kind of price pull back.
     
    • I received confirmation from one source last week that a new major buyer of physical silver had entered the market the previous week. This new buyer, an unidentified German conglomerate, had not previously purchased silver.
      ….
    … it looks as if silver buyers are moving away from paper markets and focusing on purchasing physical metal. The price of silver closed last Friday at $19.91, its highest close since March 17, 2008. With both the COMEX and LBMA showing problems of having enough silver to make physical deliveries, I anticipate that demand will mount in the next few weeks. There will be rising pressure from two sources. First, a number of owners of “paper silver” contracts will be trying to convert their asset into physical metal. Second, it is highly likely that the number of professional investors, perceiving a rare opportunity to profit from a supply squeeze, will continue to increase their buying efforts.
      ….
    … $25 by the end of this month is a definite possibility. $30 silver by the end of 2010 also a reasonable prospect. But these could also turn out to be extremely conservative. At the minimum, I would not be surprised to see the severe shortages of physical silver (and gold) that developed in late 2008 return by the end of this month. It is still possible to purchase physical silver today, and get it at reasonable premiums. I cannot guarantee how long this opportunity will last.
     
  • These are advice which we should not ignore. The sovereign debt crisis in the Eurozone is rumbling again. Japan is having a tough time reining in its Yen. At 83.x to the USD, the Japanese economy is in trouble! I always follow the writings of maestro Jim Sinclair, he is the man when it comes to gold!
     
    Strapping In For The Big Move
    ….I will stand with what I have said for nearly 10 years. Gold will trade at $1650 on or before January 14th, 2011. That never made me want to buy expensive in time call options. It has given me the courage to invest in gold without margin both in shares and bullion.
      
    There is no doubt in my mind that $1650 will occur in early 2011. I have told you that Martin Armstrong, a master timer, feels that gold will trade higher and face a reaction in middle to late June of 2011. The gold banks are throwing blocks to the price as we approach $1262. This is a major waste of time and money as gold is going to and through that price. The only argument is whether gold will hit $1650 in January 2011 or $3000-$5000 in June 2011.
     
    Do you have any idea how much money has been made by those that bought gold modestly and in cash only on every reaction and sold into the rhino horns? It sounded stupid when I suggested this tactic for the wannabe traders.
     
    I ran 22,000 long gold contracts in the New York and London markets in 1978 to 1980. Back then that was a big number. Today if I have a conviction, I simply play with everything I have and screw credit. The only credit I would use as a pro trader is options. Those of you who follow me closely know that I am NOT kidding. This is the time when PRICE and TIME meet each other. This is the time now as it was in 1979 that I went throttle to floor. This is the time now as it was in 1979 that I am committing 100% of all the cash I can accumulate to what I believe in.
     
    This is the time when all I have planned for is falling into place for the final and enormous pay day. However, I will not and you should not violate discipline, as I have always tried to teach you…..If I am wrong about gold at $1650 on or before 14/01/11 it only means gold will trade much higher than $1650 five months later.
     
    As far as being long and wrong, that is something I definitely am not.

end

September 9, 2010 Posted by | Economics | , , , | Comments Off

Yuan Trading Against Russian Ruble Said to Start Within Weeks in Shanghai!

  • This is clearly another death knell for the USD. Yuan forex trading for settlement of international trade has already started in Southeast Asia. As much as 66% of international trade is quoted and settled in USD. Because of this demand, the USD is given artificial value. America benefits because the USD has been the world reserve currency. Were it not the case, and the value of the USD purely determined by domestic economic policies, the USD would have collapse a long time ago.
     
  • Of course, the principal international trade in USD is oil. This is the reason why any attempts by oil exporters to sell oil in other currencies always end in war. Remember Iraq? Think Iran now, they are beginning to sell oil in other currencies.
     
  • Settlement of trade in Yuan is good for the world. When the USD collapses, which it will, international trade can still proceed. The interbank forex market is priced in USD, pricing currencies in Yuan will allow the interbank forex market to survive a coming USD collapse. There will be major hiccups though when the USD collapses. So far, the EU has not followed suit and encouraged/allowed settlement in Yuan.
     
  • Having said this, I am not a fan of fiat currencies backed by nothing. You have to be deluded to believe that a piece of paper printed by profligate irresponsible government is worth something! The sheeple will come around and awaken to this confidence job soon. There will be a currency crisis and a flight towards the safest money of all time: Gold !
     
    Yuan Trading Against Russian Ruble Said to Start Within Weeks in Shanghai
    China and Russia plan to start trading in each other’s currencies as the world’s second-biggest energy consumer and the largest energy supplier seek to diminish the dollar’s role in global trade.
     
    China may start trading its currency against the ruble within weeks, three bankers with knowledge of the matter told Bloomberg, and sent out a document last week allowing lenders to apply for ruble trading licenses, one of them said. Russia’s Micex Stock Exchange is making preparations to trade the ruble against the yuan in an initiative that has the backing of the country’s central bank,
    Ruben Aganbegyan, the head of the bourse, told reporters at a conference in Moscow today.
     
    “Given the risk to the dollar and U.S. assets from their fiscal position they want to reduce their dependence on the dollar as an invoicing currency,”
    Bhanu Baweja, global head of emerging markets fixed income, currency and credit research at UBS AG, said in a phone interview from London. “It makes sense for two large economies to exclude a third, overly dominant economy from their trading equation.”
     
    In the wake of the global financial crisis, which forced the U.S. economy into recession, both China and Russia have called for the dollar’s role in the financial system to be diluted. Volatility in major currencies is putting the global recovery at risk
    Zhang Ping, the head of China’s National Development and Reform Commission, said last month. President Dmitry Medvedev last year suggested Russia, holder of the world’s third-largest foreign-currency reserves, reduce its holdings of dollar.
       …..
    Dollar Elimination
    “China wants to reduce the volatility in its access to primary goods,” he said. “They want to reduce their dependence on the dollar in trade transactions.”
     
    HSBC Bank (China) Co. and
    Bank of Communications Co. completed the first yuan-ringgit transactions, according to the Foreign Exchange Trading Center, which is affiliated with the central bank. The central bank was investigating the possibility of offering new currency pairs on the interbank market, including ruble, won and ringgit, an unnamed official at the center said in April.
     
    “Gradually the dollar is being eliminated from the foreign-trade settlement flows,” said
    Dariusz Kowalczyk, a Hong-Kong based senior economist at Credit Agricole CIB. “People are beginning to trade Asian currencies without intermediation via the dollar.”

end

September 9, 2010 Posted by | Economics | , , , , , , , | 2 Comments

Peter Schiff: Dollar Collapse And Bond Bubble!

September 9, 2010 Posted by | Economics | , , , , , , , , , , | Comments Off

   

Follow

Get every new post delivered to your Inbox.

Join 501 other followers