Socio-Economics History Blog

Socio-Economics & History Commentary

Jim Rogers Calls Fed’s Ben Bernanke ‘A Disaster’!

November 15, 2010 Posted by | Economics | , , , , , , , , , | Comments Off

Jesse Ventura: FEMA Concentration Camps!

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November 15, 2010 Posted by | EndTimes, GeoPolitics | , , , , , , , , | Comments Off

Bernanke QE2 Program Backfiring! Global Money War Intensifying!

  • QE2 will not work. It will not be of much effect to boost employment. It is really for the banksters who are caught with trillions of dollars of toxic derivatives!
      
    Bernanke QE2 Program Backfiring! Global Money War Intensifying!
    The reviews are coming in fast and furious — and they’re downright terrible! … Get a load of these comments …
      
    - From the central bank president of Brazil, Henrique Meirelles: “Excess liquidity” resulting from QE2 is creating “risks for everyone” … 
     
    - From the vice foreign minister of China, Cui Tiankai: “Many countries are worried about the impact of the policy on their economies. It would be appropriate for someone to step forward and give us an explanation” …
     
    -  From the finance minister of Germany, Wolfgang Schäuble: “It’s our problem as well if the U.S. is no longer certain that the old recipes don’t work anymore.” Schäuble then delivered the coup de grâce, calling Bernanke’s gambit “clueless” …
      
    -  Jean-Claude Juncker of Luxembourg, the leader of a panel of euro-zone finance ministers, seconded the condemnation. He said: “I see more risks and possibilities of global excesses in the decisions that have been made by the Fed than benefits.”
     
    So there you have it. … despite multiple Fed and Treasury efforts to talk QE2 up, foreign leaders are having none of it. This international war of words is all part of what I’m calling “The Great Global Money War of 2010-2012.” We’re seeing a complete breakdown of international cooperation on monetary and fiscal policy. Countries are going their separate ways, with dramatic impacts for the capital markets.

     
    The Bond Market Gives Bernanke the Thumbs Down Too!
    Is it all just talk? A bunch of politicians whining about the Fed’s actions, but the markets ignoring them? Hardly. The bond market’s verdict on QE2 couldn’t be more clear — it’s a 100 percent universal rejection!
     
    The Fed claimed its moves would drive down long-term interest rates. Heck, Ben Bernanke wrote a highly unusual op-ed in The Washington Post defending his move. He claimed that long-term interest rates fell when the QE2 talk began bubbling up.
       
    My response: Really? … yield on the 30-year Treasury bond has shot UP by 75 basis points since late August, when the Fed started hinting at QE2 in earnest. That’s a rise of more than 21 percent — the biggest, multi-month surge in long-term rates in a year! Then Tuesday, an auction of 10-year Treasury Notes bombed. Uncle Sam tried to sell $24 billion of Treasuries, but the “bid-to-cover ratio” came in at just 2.8. That means there were just $2.80 in bids for every $1 in notes being sold, the worst reading since February. Result: A massive, one-day rise of 11 basis points in the 30-year bond yield.
     
    Wednesday was even worse … the government dumped $16 billion in 30-year Treasuries on the market, and buyers were having none of it. The auction’s bid-to-cover ratio was the worst in a year, causing yet ANOTHER surge in yields.
     
    Bernanke: What Me Worry?
    Things are so bad that this week, China — yes, China — downgraded its U.S. credit rating. China’s answer to Moody’s and S&P, Dagong Global Credit Rating Co., cut its sovereign debt rating for the U.S. to A+ from AA. It cited the detrimental effects of the QE2 plan and the U.S.’s sizable debt load. China owned $868 billion of Treasuries as of August, the most of any foreign creditor.
     
    But over in Fed-land, it’s business as usual … Bernanke told a crowd of college students in Jacksonville, Florida this past weekend that everything was hunky dory. He said it doesn’t matter what foreign countries think because “our first objective, the first goal that we have, is to meet our mandate to get price stability and maximum employment in the United States.”
       
    He waved off questions about the surge in commodities, saying they won’t cause broad inflation because they are just “one exception” in an otherwise anti-inflationary environment. And the gigantic surge in gold prices? Also, no worries. The Fed has “the tools to unwind and tighten policy at the appropriate time.”
      ….
    Look, the difference between the QE2 view in Washington — and the view in virtually every other capital city on the planet — couldn’t be more stark … Bernanke wants to throw more easy money at the economy, even though that strategy has led to two massive bubbles and busts. Foreign central bankers are shaking their heads in response and protesting ever more vigorously.
     
    I expect to see the global money war escalate in response. So now could be a good time for you to consider raising more cash and taking some profits in case this gets even uglier than it already has.

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November 15, 2010 Posted by | Economics | , , , , , , , , , , , | Comments Off

Thai Prime Minister Abhisit Calls On Asia To Use Chinese Yuan In Trade!

  • More signs of a coming USD collapse. American allies are openly calling for and planning for life after USD. 
      
    Abhisit calls on Asia to use yuan in trade
    G20 makes no progress in curbing capital flows
    Prime Minister Abhisit Vejjajiva, fearful of the effects of the soaring baht due to massive capital inflows, has proposed the use of the Chinese yuan as a major regional trading currency. Asia-Pacific leaders will have to discuss measures to deal with the fund inflows after the Group of 20 major economies failed to reach any tangible decisions, Mr Abhisit said yesterday.
     
    “The G20 did not make any progress on the matter and it is difficult to get the United States and China to express their clear stances on the issue. But what we can do is try to cooperate in the region and reduce the impact from currency volatility,” Mr Abhisit said before leaving for the Asian Games in China and an Asia-Pacific Economic Cooperation (Apec) leaders’ meeting in Yokohama, Japan, this weekend.
     
    G20 leaders drew a veil over their economic policy disputes in South Korea yesterday. They agreed to tackle tensions that have raised the spectre of a currency war and trade protectionism, but they fell short of already low expectations. Only vague “indicative guidelines” were set for measuring imbalances between their multi-speed economies. Leaders called a timeout to let tempers cool and left details to be discussed in the first half of next year.
     
    Mr Abhisit echoed a call made by the Asian Development Bank (ADB) to use China’s yuan as a major trading currency in the region to reduce the impact of currency volatility, especially linked to the weakening of the US dollar. He said he was the one who proposed the idea to the ADB. ADB president Haruhiko Kuroda met Mr Abhisit this week to seek Thailand’s support when it tables the proposal at the next meeting of Asean+3 (Asean plus China, Japan and South Korea) finance ministers.
     
    The prime minister expects the currency issue to be raised at the Apec meeting. “What Apec must push for are ways to promote regional cooperation so that the region can cushion the impacts of the fluctuations of currencies,” Mr Abhisit said. He added, however, that for the Chinese yuan to have a greater role in transactions in the region, China would have to relax its tight controls on the currency and its capital account. At present, about 90% of trade in Asia is conducted in US dollars.
     
    “I suggested that Asean could have an office dedicated to the handling of currency issues. It could join forces with the ADB in pushing the idea forward,” Mr Abhisit said. Experts expect currency issues to be highlighted at the Apec meeting.
     
    Donald Tsang, chief executive of the Hong Kong Special Administrative Region, said the regional private sector should brace for high volatility in the currency and securities markets as economies were increasingly linked. He made the comments in a sideline forum of the Apec meeting that started yesterday. The most pronounced problem to result from capital inflows, stemming from US funds seeking returns in Asia, would be an unsustainable rise in asset prices, Mr Tsang said. “The imbalance is unique. I have never seen it in my working life,” he said.

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November 15, 2010 Posted by | Economics | , , , , , , | Comments Off

Gerald Celente: Scenario Set Up For Next War!

November 15, 2010 Posted by | Economics | , , , , , , , , , | Comments Off

Alarm At Comex: Silver Will Soar Once Again!

November 15, 2010 Posted by | Economics | , | Comments Off

Russian Expert: It Was A Ballistic Missile Launched From A Submarine, 35 Miles Off The Coast of LA, California!

  • Feedback from ex-US military personnel (from www.stevequayle.com):
     
    I am a retired U.S. Navy FireControl Technician, who is platform certified in the gun and missile systems on board Adams class guided missile destroyers, I have also worked with the Navy’s Harpoon, Tomahawk and ASROC missile systems. (FireControl Techs operate, maintain and repair the computer, radar and periphial systems used to launch and guide the various naval weapon systems, we are the guys who “PUSH THE BUTTON”) 
     
    Anyway, what I saw in the recent video concerning the object 30 miles off the coast of CA. Is blatently a foreign made, Large Cruise or ICBM missile, being launched by a sub-surface aquatic platform. First I know its a large missile because it did not exhibit the typical “corkscrewing” trajectory of a beam riding missile as it trys to aquire the targeting beam. This tells me its a Big Boy with a complete guidence system installed in it, what is nicknamed a “fire and forget” missile, as once its launched its internal guidance system takes over and there is no real need for external guidance.
     
    Secondly, I’m fairly confident its not one of ours, as the vapor trail appears “dirty” it looks brownish. I have personally been involved in (5) SM2 missile launches, and (2) ASROC missile launches, and have been on safety observation for at least 15 more launches of Harpoons, Tomahawks and other missiles. We put alot of sweat and money into our “birds” and part of that is the fuel cells, they burn very clean, a whitish-blue infact, not a dirty blackish brown. That missile had rather crude fuel cells, which tells me its not one of ours.
     
    I bet the brass in Washington is freaked out big time, because of what I know of our “defenses” they should really have had a pretty good idea this thing was sitting there, and they should have been watching it, not only that the moment it broke the surface of the water and ignited our early warning dopplar should have picked it up, and relayed the info to NORAD, and the CAP units flying patrol over the country…  
     
    Any high ranking expert who believes this is a condensation trail off of a commercial airliner is lying or stupid. I hope you hear from other Fire Control Techs who saw the same thing I did!
     
    I forgot something, as any Firecontrol Tech or Gunnersmate will verify, the protocals to launch a missile are so complex, there is no way this was an “accidental” launch. I do not want to share too much info, but there is no “one red button” to launch a missile, thats all hollywood B.S. Yes two keys are turned to arm the system, but it takes at least three other things to occur in proper sequence to launch a bird, so thats at least 5 people all doing something at the right time. Its impossible to accidently lauch a missile!
    FC2- ANDREW/ RET
     

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November 15, 2010 Posted by | GeoPolitics | | 4 Comments

FedRes Legalized Counterfeiting, Money Printing Ponzi Scheme!

November 15, 2010 Posted by | Economics | , , , , , , , , , | Comments Off

G20 Showdown, Currency War, Dollar Devaluation And Gold !

November 15, 2010 Posted by | Economics | , , , , , , , | Comments Off

   

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