Socio-Economics History Blog

Socio-Economics & History Commentary

Italy And Spain Must Pray For A Miracle!

  • We are very close to a calamitous sovereign debt crisis collapse. It will start in the PIIGS, spread to the rest of Eurozone, cause the Euro to collapse, sweep away UK and Japan and finally detonate in America! The USD will collapse! Do not for a moment think that Asia will be OK. I don’t think so. All fiat currencies, including the Chinese Yuan will go down the toilet bowl too.
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    Italy and Spain must pray for a miracle
    By Ambrose Evans-Pritchard, http://www.telegraph.co.uk/
    Once again Europe’s debt crisis has metastasized, and once again the financial   authorities face systemic contagion unless they take immediate and dramatic action.
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    If the ECB’s Jean-Claude Trichet is right in claiming that Europe was on the   brink of a 1930s financial cataclysm a year ago – and I think he is – it is   hard see how the threat is any less serious right now.
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    Fall-out from Greece flattened Portugal and Ireland last week. It is engulfing   Spain and Italy, countries with €6.3 trillion of public and private debt between them. Yields on Italian 10-year bonds hit a post-EMU high of 5.3pc on Friday. This   is not just a theoretical price: the Italian treasury has to roll over €69bn   (£61bn) in August and September; it must tap the markets for €500bn before   the end of 2013. The interest burden on Italy’s €1.84 trillion stock of public debt is about to rise very fast.
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    Spanish yields punched even higher, through the danger line of 5.7pc. The bond   markets of both countries are replicating the pattern seen in Greece,  Portugal, and Ireland before each spiraled into insolvency. And the virus is moving up the European map. French banks alone have $472bn (£394bn) of exposure to Italy and $175bn to Spain, according to the Bank for International Settlements.
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    “We believe the European sovereign crisis might be entering a new phase with contagion reaching the larger economies,” said Jacques Cailloux, chief Europe economist at RBS.
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    “It is unclear to us how this latest negative shock to confidence is going to be undone in the absence of a ‘shock and awe’ policy response.” Italy’s premier Silvio Berlusconi has chosen this moment of acute danger to undermine his own finance minister, Giulio Tremonti, the one figure in his cabinet respected by global bond vigilantes. “He’s not a team player, and thinks he’s genius and that everybody else is a cretin,” said Mr Berlusconi.
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    “What other country would allow itself the suicidal luxury of offering cynical markets such a spectacle of political disintegration and institutional decay at a time when Europe is destabilized by Greece’s sovereign debt and haunted by contagion? We have a band of poltroons dancing under the volcano, and the volcano is about to erupt.”
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    What can the eurozone now do to trump its last “shock and awe”? More loan packages solve nothing. Pretending that this is just a liquidity crisis will no longer wash.
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    ….. for the full article click here!

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July 11, 2011 Posted by | Economics | , , , , , , , , | Comments Off

War on Drugs: The Globalists Biggest Ponzi Scheme of All Time!

July 11, 2011 Posted by | GeoPolitics, Social Trends | , , , , , , , , | 1 Comment

Alex Jones: Why The Globalists Want To Kill The Rest of US !

July 11, 2011 Posted by | GeoPolitics, Social Trends | , , , , , , | 2 Comments

Nigel Farage: ‘You (EU) Are Supporting The Destruction of National Democracy! We’re Headed For a Europe of Rebellion And Violence!’

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July 11, 2011 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , | Comments Off

Lt. Col. Bo Gritz Claims CIA Drug Dealing, July 1988!

  • The drug trade is controlled by the Illuminati since day 1 ! It is a means of weakening and enslaving nations. Look at the chart below.

The Western Illuminati Organization Chart. Source: http://www.stevequayle.com

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July 11, 2011 Posted by | GeoPolitics, History, Social Trends | , , , , , | Comments Off

Professor Steve Keen: The Banksters Are Responsible For This Crisis!

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July 11, 2011 Posted by | Economics | , , , , , , , , | Comments Off

EU Calls Emergency Meeting As Crisis Stalks Italy!

The Eurozone is over burdened by insurmountable debts! So are the rest of the industrialized world !

  • You cannot solve a debt problem with more debts! This is not about bailing out the PIIGS. It is about bailing out the banks and shoving the bankster debts onto the sheeple. It is about financial rape via ‘Privatization’ ie. countries being forced to sell their national assets at pennies to the dollar. It is about world conquest, the destruction of national sovereignties via fraudulent finance at exorbitant interest rates. These Illuminist banksters are just gangster loan sharks in Armani suits!
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  • The world is heading towards a global currency crisis! The Euro, UKP, JPY and finally the USD will all become toilet paper! The rest of the world’s minor fiat currencies will not survive! Got gold yet?
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    EU calls emergency meeting as crisis stalks Italy
    By Luke Baker , http://www.reuters.com/
    (Reuters) – European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis for Monday morning, reflecting concern that the crisis could spread to Italy, the region’s third largest economy.
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    European Central Bank President Jean-Claude Trichet will attend the meeting along with Jean-Claude Juncker, chairman of the region’s finance ministers, European Commission President Jose Manuel Barroso and Olli Rehn, the economic and monetary affairs commissioner, three official sources told Reuters.
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    Van Rompuy’s spokesman Dirk De Backer said: “It’s a coordination, not a crisis meeting.” He added that Italy would not be on the agenda and declined to say what would be discussed.
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    However, two official sources told Reuters that the situation in Italy would be discussed. The talks were organized after a sharp sell-off in Italian assets on Friday, which has increased fears that Italy, with the highest sovereign debt ratio relative to its economy in the euro zone after Greece, could be next to suffer in the crisis. A second international bailout of Greece will also be discussed, the sources said.
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    The spread of the Italian 10-year government bond yield over benchmark German Bunds hit euro lifetime highs around 2.45 percentage points on Friday, raising the Italian yield to 5.28 percent, close to the 5.5-5.7 percent area which some bankers think could start putting heavy pressure on Italy’s finances.
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    Shares in Italy’s biggest bank, Unicredit Spa, fell 7.9 percent on Friday, partly because of worries about the results of stress tests of the health of European banks that will be released on July 15. The leading Italian stock index sank 3.5 percent.
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    The market pressure is due partly to Italy’s high sovereign debt and sluggish economy, but also to concern that Prime Minister Silvio Berlusconi may be trying to undermine and even push out Finance Minister Giulio Tremonti, who has promoted deep spending cuts to control the budget deficit. “We can’t go on for many more days like Friday,” a senior ECB official said. “We’re very worried about Italy.”
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    Monday’s emergency meeting will precede a previously scheduled gathering of the euro zone’s 17 finance ministers to discuss how to secure a contribution of private sector investors to the second bailout of Greece, as well as the results of the stress tests of 91 European banks.
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    Spain, traditionally seen as the next potential domino in the crisis, has managed to retain its access to market funding through fiscal reforms. But because of the large sizes of the Spanish and Italian economies, pressure on the euro zone would increase dramatically if those countries eventually needed financial assistance.
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    Private analysts have estimated a three-year bailout of Spain, based on its projected gross issuance of medium- and long-term debt in 2011, might cost some 300 billion euros — excluding any additional money for cleaning up Spain’s banks. A three-year rescue of Italy could cost twice that.
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    German newspaper Die Welt quoted an unnamed ECB source as saying on Sunday that the EFSF, which has a nominal size of 440 billion euros, was not large enough to protect Italy because it had not been designed to do that.
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    In Italy on Sunday, politicians and government officials scrambled to present a united front and defend Tremonti. Umberto Bossi, the powerful leader of Berlusconi’s Northern League coalition allies, praised Tremonti for “listening to the markets.”
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    “From tomorrow, we have the job of showing we are united and blocking the effort of speculators,” said Paolo Bonaiuti, a government undersecretary and senior aide to Berlusconi.
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    “In the coming months we have 120-130 billion euros of bond issues to deal with, so we need cohesion and united intent; it’ll take effort to show that the markets are overdoing it.”
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    However, Berlusconi himself was silent over the weekend and canceled two appointments to speak, and it was not clear how long the appearance of consensus in the government over austerity plans would last.
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    One factor behind bond markets’ growing instability is a sense that the euro zone’s basic strategy for dealing with debt problems — keeping countries afloat with emergency loans in the hope they can grow their way out of their debts within a few years — is flawed. More radical action to cut the countries’ debts or boost economic growth may be needed.

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July 11, 2011 Posted by | Economics | , , , , , , , , , | Comments Off

Ron Holland: Inevitability of Societal Chaos!

  • America, Eurozone, UK and most of the world are heading towards a global economic meltdown. With it, the social fabric of society will be torn apart. Make sure you prepare yourself. Put your money in physical gold/silver. When fiat currencies round the world collapses, gold will still be accepted as money!
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    Ron Holland on the Inevitability of Societal Chaos, How the Elites Will Try to Maintain Control – And How You Can Protect Your Wealth From Confiscation
    Anthony Wile, http://www.thedailybell.com/
    The Daily Bell is pleased to present an exclusive interview with Ron Holland.
    Introduction: Ron Holland is the author of three books, numerous special reports and hundreds of articles on investment and political topics, many of which focus on the interplay between politics and the investment markets. Selections of his essays can be found in the archives of LewRockwell.com and The Daily Bell.com. He currently is a contributing editor to several newsletters dealing with political and investing topics, a member of the Advisory Board of Zurich-based BFI-Consulting and Chairman of the Advisory Board of The Foundation for the Advancement of Free-Market Thinking (FAFMT).
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    Daily Bell: Thanks for taking the time to participate in another interview. Since you were here last time in December, things have continued to erode in the global economy. Do you feel the downward trend for the US dollar is going to change anytime soon?

    Ron Holland: Thanks for having me back, always a pleasure. With respect to your question about the future of the US dollar, before I answer it, I would like to say that I am not anti-American in anyway and, in fact, quite the opposite. My views are firmly aligned with those who believe in an individual’s right to life, liberty and the pursuit of happiness. But today in America we see these rights eroding right along with the dollar. So I have begun to speak out along with millions of other Americans.
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    Daily Bell: It does seem as if people are growing angrier, and more awake about what’s going on. Or maybe that’s just our bias.
    Ron Holland: It’s because the system is falling apart and growing more obviously unfair at the same time. The Anglosphere power elite has taken complete control of the US – of the entire West, as a matter of fact. Of course it’s always been that way to some extent.
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    Daily Bell: You have a point about the obviousness.
    Ron Holland: It used to be that they tried to hide it but the Internet has made that increasingly impossible as the DB often points out. So, it’s like they don’t care anymore. They’re pursuing their one-world vision no matter what. If you get in their way, they’ll try to run you over. And people resent it. Trouble for them is there are a lot more of us than them.
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    Daily Bell: You think people are seeing a pattern?
    Ron Holland: It’s a combination of the economic downturn and the new communication technology. People see the amount of money being thrown around on bailouts and wars. It can’t be hidden anymore because it’s available for anyone with a computer.
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    First they instituted central bank around the world and then they began to build their new world order, funding it by printing money-from-nothing. When the business cycle soured, they’d distract people with war. But again none of this is working so well now. It’s a fairly brutal and even obvious system once you understand it.
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    Daily Bell: It certainly worked well in the 20th century.
    Ron Holland: No doubt about it. Still, today, despite what I consider an awakening, we still have large number of people who don’t understand what’s going on and maybe never will. Some of them are barely capable of critical thought.  But those who are aware are growing too and at a faster rate than ever before. What gets people’s attention is when the economy is not working. And today there’s nothing left to milk in the West. The cow is dry and the cream has been siphoned off – and it sure as heck isn’t in my or your cup.
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    Daily Bell: We like to use the term Internet Reformation.
    Ron Holland: It sums it up rather well. Internet Reformation. John Q. Public is starting to understand that they have been the subject of a massive mind manipulation ever since they first walked through the doors of an American public school. It’s like a warm bath. Even after you get out of school, you’re subject to the same propaganda. The mainstream media is there to reinforce it as are the establishment historians.  In the 20th century there was literally no respite. But in the 21st century the alternative has really come on strong. Sites like yours (to which I encourage all readers of this article to subscribe – it’s free: click here to subscribe now), Mises.org and LewRockwell.com – just to name a few – are speaking truth to power. It’s an entirely different kind of illumination and it’s making a real difference.
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    Daily Bell: We’ve noticed it’s hard to take sometimes, to accept how badly you may have been manipulated and fooled. We certainly know the feeling. It makes you sick.
    Ron Holland: It’s not something you have a choice about. This knowledge is filtering around the world. People are waking up from a bad dream – or at least understanding why their lives are as they are. They’ve been robbed, and it’s better to live with that knowledge than without it. Once people start to see this gigantic cage of world government being built around them, they start to do something. That’s what’s behind the Tea Party movement. Even if those in the Tea Party don’t understand everything the same way, they know something’s wrong.
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    It ultimately comes back to the dysfunction of the current economy, the centralization, the inflation, joblessness, etc. Central banking and the Federal Reserve in the United States has got to be the greatest fraud of all time – the idea that a small group of chosen people can set the value of money for everyone else. They can’t. All they can do is print and inflate/devalue. That’s why more and more people understand they have to get out of paper money into gold and/or silver.
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    … for the full interview transcript click here!

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July 11, 2011 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , , , , , | Comments Off

Recovery? What Recovery? Duration of Unemployment Says Economic Depression!

Unemployment is not getting better! America is in economic depression!

July 11, 2011 Posted by | Economics | , , | Comments Off

Canadian Boat To Gaza: We Will Keep Coming Until The Blockade Collapses And Palestine Is Free!

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

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July 11, 2011 Posted by | GeoPolitics, Social Trends | , , , , , , | Comments Off

Evidence Big Pharma Owns The U.S. Government!

July 11, 2011 Posted by | Medicine & Health | , , | Comments Off

Brother Nathanael: The Jews Who Murdered Tsar Nicholas II !

Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

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July 11, 2011 Posted by | History | , , , | 1 Comment

   

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