Socio-Economics History Blog

Socio-Economics & History Commentary

Alex Jones Breaks Down The Latest Movie from Hollywood on Bird Flu Pandemic!

  • Ex. British Military: The Illuminati Plans World War 3 in 18 – 24 Months! (“China will catch a cold”)

    During the nuclear ceasefire, there is planned to be a covert release of biological weapons. These will initially be targeted against the Chinese. As our source chillingly told us, “China will catch a cold”. Biological warfare will spread further, to the west. Infrastructure will be critically weakened.

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July 19, 2011 Posted by | EndTimes, Medicine & Health, Social Trends | , , , , , | 2 Comments

Alex Jones: Entire World on The ‘Brink of Collapse!!’

July 19, 2011 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , , , , | Comments Off

Lindsey Williams: A Very Important Reminder About The Coming Economic Collapse! The Euro Will Collapse First, 2-3 Weeks Later The Dollar Will Collapse!

Lindsey Williams: Get out of paper asset!

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July 19, 2011 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , , , | 1 Comment

Gold is Money: Except If You’re Bernanke!

July 19, 2011 Posted by | Economics | , , , , , , | Comments Off

Gold Over $1600 And Silver Over $40.30 on Risk of Systemic Financial Collapse And Fiat Currency Crisis!

  • Gold and silver are both rising rapidly. Gold is signalling major crisis dead ahead. Gold is not an investment. It is money! People who understand monetary history and the fiat currency Confidence Job are fleeing to gold. If the American debt ceiling is not raised, there will be a default and global economic and financial system collapse. If it is raised, hyperinflation will kick in. Either scenario is positive for gold. Inflation or deflation gold will do very well !
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    Gold Over $1600 and Silver Over $40.30 on Risk of Systemic and Fiat Currency Crisis
    by GoldCore
     Gold is trading at $1,600.84/oz, €1,141.34/oz and £996.35/oz. Gold rose to new record nominal highs in debt laden U.S. dollars, euros and pounds today due to the growing risk of a systemic financial collapse and fiat currency crisis. Gold rose 0.5% in U.S. dollar terms to a new nominal record high at $1,602.05 per ounce. Euro falls saw the dollar rise 0.8% against the euro and gold rise 1.4% in euro terms to EUR 1,041 per ounce. Gold rose 0.9% in British pound terms to £996 per ounce. Gold rose 0.8% to CHF 1,309 per ounce in the ‘safe haven’ fiat currency the Swiss franc.
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    Gold clears $1600 in convincing fashion
    by http://traderdannorcini.blogspot.com/
    A further deterioration in the sovereign debt woes involving the Euro zone coupled with an increasing loss of confidence in the monetary authorities of the West led to a strong opening in Asian trade last evening as gold came in well bid from the get go.
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    The buying picked up steam as it moved into very early European trading and continued to be firm as the action shifted into New York. One could see the attempt to cap the rally at $1600 by the bullion banks who no doubt had recruited some of the pit locals to their side but shortly after the close of lunch hour there in New York a burst of buying came in that startled the shorts for its intensity and drove them back decisively from the $1600 level.
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    The market pushed as high as $1608 ($1607.90) to be exact and has stayed strong going into the afternoon hours. This is no mean feat as one would normally expect a sizeable amount of profit taking from longs to come in at a round number like $1600, particularly after a rally of over $120 in the last two weeks time. I think the shorts were expecting that to occur also based on the attempt they were making to hold it below $1600. The idea is that they could induce a bout of long liquidation beginning with the short term oriented day traders who would be inclined to sell seeing the market stall at $1600. Instead of that occuring, some powerful long or group of longs came in and snatched up the offers to sell on the dip back below $1600 and then never let it go the rest of the session. If that group sticks around and pulls a repeat of today’s showing, this thing will go to $1650 faster than some of us are already imagining.
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    One thing I have also noticed about this chart is that while it shows the powerful uptrend that gold has been in since early 2009, the angle of ascent, even after the past two weeks strong showing, is still not all that steep. In other words, gold has not yet gone parabolic but is rising in a strong, yet relatively tempered fashion. For all the buying that has been and is presently occuring, there is not yet evidence of any PANIC. What there is evidence of is increasing fear and concern but not PANIC. It is that emotion which produces nearly vertical moves up.

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July 19, 2011 Posted by | Economics | , , , , , , , , , , , , | Comments Off

Portugal Loses Patience With Europe!

Source: http://www.telegraph.co.uk/ . Photo: Alamy

  • How long before the Euro collapses and the Eurozone breaks apart? It is difficult to say with certainty. But I doubt this can last beyond Mid 2012! It can happen any day now too! Do not wait to protect yourself against this coming global economic, financial and monetary collapse. Goto gold immediately!
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    Portugal Loses Patience With Europe
    By Ambrose Evans-Pritchard, http://www.telegraph.co.uk/
    Portugal’s new premier Pedro Passos Coelho — a free marketeer — began to growl over the weekend. “We want to take part in an ambitious European project and make our contribution so Europe can confront its problems in the most ambitious way, but as prime minister I will not stand by and wait for Europe to govern Portugal,” he told the party faithful.
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    So, it has begun: last week Greece’s premier George Papandreou launched two angry broadsides against EU magnates. How could he do otherwise after Eurogroup chair Jean-Claude Juncker told a German newspaper that Greece’s sovereignty would be “massively limited”?
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    “Massively limited?”
    Mr Juncker should be clamped in irons if he dares set foot on Greek soil.
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    Now the leader of what is arguably Europe’s oldest nation state (foundation 868, under Vimara Peres) has shown the first hints of frustration. Just to remind you: unemployment in Portugal is 12.4pc (youth: 28.1) and about to rise much further as the fiscal punch hits. The figures for Spain are 20.9pc (44.4), Greece 15pc (38.5), Ireland 14pc (26.5), Latvia 16.2pc (32.9). Yet the these countries are all facing further headwinds of fiscal and monetary tightening.
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    For a serving prime minister to make such remarks at this delicate juncture might be taken by some as a cloaked threat  to walk away from the EU project, if the country continues to be treated in a humiliating and damaging fashion. Mr Passos Coelho is fencing with a double-edged blade. Even to hint at misgivings over EMU is to set matters in motion. The markets were very quick to pick up on political body language during the ERM crisis in 1992.
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    I have great sympathy for Mr Passos Coelho and for the Portuguese people. The German-led creditor states have treated the EMU crisis as if it were a morality tale, castigating Club Med and Ireland for alleged fecklessness. All that is required — goes the argument — is further austerity, a dose of 1930s wage and debt-deflation, and virtue will be its own reward. The Left-wing Bloco calls it “social terrorism”.
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    Adding injury to insult, Germany has insisted that Portugal, Greece, and Ireland pay a penal rate of interest some 200 to 300 basis point over the cost of funding paid by the EU’s bail-out machinery, though this may soon be cut somewhat. As former US Treasury Secretary Larry Summers said this morning in the pink sheet, such penal rates play havoc with debt dynamics and are driving a string of countries into insolvency and depression.
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    This Germanic view of events is self-serving and intellectually dishonest. Southern Europe is in trouble because Europe’s monetary union is and always was dysfunctional. The Maastricht process caused interest rates to plunge in the Club Med bloc, setting off credit booms. Portugal’s rates fell from 16pc to 3pc in short order.
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    The ECB poured further petrol on the fire by tilting monetary policy to German needs in the middle of the last decade, when Germany was in trouble. The ECB breached is own eurozone M3 and inflation targets for year after year.
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    In the specific case of Portugal, the boom occurred earlier, in the late 1990s. … Yet over the last eight years Portugal has been relatively frugal. It did not have an Irish banking bubble, or a Spanish property bubble. It did let social transfer costs creep up to 22pc of GDP — when they should have been falling — but it also passed a string of fiscal austerity packages.
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    Yet at the end of the day it was punished anyway. It has failed to reap any worthwhile benefits. There has been no economic convergence or EMU catch-up effect. Productivity has remained stuck at 64pc of the core-EU average. Portugal switched from surplus on its external accounts in the early 1990s to a deficit of 109pc of GDP today.
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    Public and private debt has ballooned to 330pc of GDP, one of the highest in the world. Portugal will still have a current account deficit of almost 8pc this year and the budget deficit was still running at a 8.7pc rate in the first quarter. Such a profile two or three years into draconian cuts and demand compression is almost tragic.
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    And now they must implement yet further austerity, without debt relief or offsetting monetary stimulus or devaluation. This policy is a near certain formula for economic asphyxiation..
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    …. for the full article click here!

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July 19, 2011 Posted by | Economics | , , , , , , , , , , , | Comments Off

Markets Tumble on Eurozone Debt Crisis Fears! Wall Street Falls As Debt Default Day Edges Closer!

  • The financial quakes will get bigger and bigger. This Thursday is major event day. It is the Obama dateline for debt ceiling agreement and submission to the House for vote by 2 August. This Thursday is also the crisis summit for the 17 Eurozone countries to discuss the spreading sovereign debt crisis. I believe eventually the debt ceiling will be raised and QE3 will start. How the snakes plan to get there is another matter. They may drag this beyond 2 August, cut social security, Medicare… but pay the interest on the debts to prevent a default. This will result in social unrest, riots, tax revenue collapse and eventually a default. Got gold yet?
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    Markets tumble on eurozone debt crisis fears
    By http://www.telegraph.co.uk/
    Mounting fears that politicians will fail to resolve the eurozone’s debt   crisis sent markets sliding and Spain and Italy’s borrowing costs nearing the “point of no return”.
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    Investors are unconvinced that the euro-sharing nations will manage to reach agreement on a second bail-out for Greece before Thursday’s crunch summit in Brussels. Continued deadlock over how to contain the crisis raises the risk of Athens being forced into a disorderly default, which could wreak havoc on the global financial system, or of other, bigger economies becoming swept up also.
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    The yields, or returns, on Spanish and Italian 10-year government debt hit euro-era highs over 6pc as investors demanded greater reward to shoulder the risk. The borrowing costs implied by such yields close to the levels where governments can not afford to fund themselves and must be bailed out, said analysts.
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    “If we reach 7pc on Spain and Italy, we are probably approaching very quickly the point of no return,” said Nicola Marinelli, a fund manager at Glendevon King Asset Management. “Once the market is shut, it is   shut for good. The examples of Greece, Portugal and Ireland are clear.”
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    Gold breached $1,600 an ounce for the first time as the turmoil, combined with the row in the US over its debt ceiling, sent investors scurrying towards the “safe haven”.
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    Wall Street falls as debt default day edges closer
    By , http://www.telegraph.co.uk/
    Stock markets fell on Wall Street as the prospect of the US government defaulting on its debts moved a step closer after another day of political paralysis in Washington.
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    With no signs of progress from the series of parallel debt talks on Capitol   Hill, investors moved quickly to reduce their exposure to shares in what is   shaping up to be a fraught four trading days. The S&P 500 dropped 10.66   – 0.81pc – to 1,305.48, while the Dow Jones Industrial Average was down   92.34 – 0.74pc – to stand at 12,387.39.
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    Despite a slew of America’s biggest companies, including Coca-Cola, Apple and Goldman Sachs, reporting results this week, Wall Street’s attention is now riveted on the negotiations aimed at lifting America’s $14.3 trillion (£8.9 trillion) debt ceiling.
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    The markets “continue to have whipsaw trading as macro news continues to confuse and concern investors”, said Mary Ann Bartels, a strategist at Bank of America Merrill Lynch. “Investors are understandably maintaining a low profile.”
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    The relatively relaxed attitude Wall Street has so far taken to talks that began two months ago is now being replaced by growing anxiety as the August 2 deadline approaches. US Treasury Secretary Tim Geithner has warned that if the debt ceiling – or the country’s legal borrowing requirement – hasn’t been raised in two weeks time then the government will no longer be able to pay all its bills.
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    With some politicians in Congress downplaying the significance of a temporary default on its debts, on Monday ratings agency Fitch said that America risks losing its prized AAA credit rating for the first time in its history. “Agreement on a credible fiscal consolidation strategy will secure the US ‘AAA’ status,” Fitch said. “Failure to do so will inevitably weaken the sovereign credit profile.” The warning echoes those made by Standard & Poor’s and Moody’s last week.

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July 19, 2011 Posted by | Economics | , , , , , , , , | Comments Off

ZeroHedge: Sigma X (Goldman Sachs) Trading Suggests European Contagion May Be Shifting From Italy To The UK! Goldman Bet Against Entire European Nations!

  • Illuminist banksters are positioning the chess pieces for a catastrophic sovereign debt collapse. When they are ready, they will pull the plug on this giant debt ponzi scheme called the world economy! Look at what the snakes are doing: betting against the survival of the Eurozone! Who owns all the big banks and hedge funds of the world? Draw your own conclusions! (emphasis mine)
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    Sigma X Trading Suggests European Contagion May Be Shifting From Italy To The UK
    by Tyler Durden, http://www.zerohedge.com/
    Over 3 weeks ago, before Italian treasury spreads blew out by several hundred basis points, and before Italian bank stock trading halts became a daily occurrence, we suggested that the European contagion was shifting to Italy based on Goldman dark pool Sigma X trading. To wit: “Today’s most active names are Banca Monte dei Paschi di Siena, Unicredit and Intesa Sanpaolo. Translation: someone is actively positioning for serious action in Italy shortly.” That someone sure was right, and it is precisely this trifecta of stocks that at last check was halted on the Borsa. Well, based on today’s action at Sigma X, the next, and probably biggest domino may be about to fall: the UK itself, because coming in at position #2, just behind UniCredit, we see Lloyds Banking. And if Lloyds goes, the ones that will follow are Barclays and RBS. At that point, the financial crisis goes global.
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    Goldman Bet Against Entire European Nations – Who Were Clients – the Same Way It Bet Against Its Subprime Mortgage Clients
    by http://www.washingtonsblog.com/
    It is well-documented that big banks like Goldman Sachs made money by betting against investments which they themselves bundled and sold to their own clients, such as packages of subprime mortgage-related products such as collateralized debt obligations. This practice not only was illegal and unethical, but actually worsened the subprime crisis. See this, this, this, this and this. But did you know that the big banks did the same thing with entire European nations? As Andrew Gavin Marshall notes:
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    Greece  has a total debt of roughly 330 billion euros (or U.S. $473  billion).[New York Times] So how did this debt get out of control? As it turned out,  major U.S. banks, specifically J.P. Morgan Chase and Goldman Sachs,  “helped the Greek government to mask the true extent of its deficit with  the help of a derivatives deal that legally circumvented the EU  Maastricht deficit rules.” The deficit rules in place would slap major  fines on euro member states that exceeded the limit for the budget  deficit of 3% of GDP (gross domestic product), and that the total  government debt must not exceed 60% of GDP. Greece hid its debt through “creative accounting,” and in some cases, even  left out huge military expenditures. While the Greek government pursued  its “creative accounting” methods, it got more help from Wall Street  starting in 2002, in which “various investment banks offered complex  financial products with which governments could push part of their  liabilities into the future.” Put simply, with the help of Goldman Sachs  and JP Morgan Chase, Greece was able to hide its debt in the future by  transferring it into derivatives. A large deal was signed with Goldman  Sachs in 2002 involving derivatives, specifically, cross-currency swaps,  “in which government debt issued in dollars and yen was swapped for euro debt for a certain period — to be exchanged back into the original currencies at a later date.” The banks helped Greece devise a cross-currency swap scheme in which they used fictional exchange rates, allowing Greece to swap currencies and debt for an additional credit of  $1 billion. Disguised as a ‘swap,’ this credit did not show up in the  government’s debt statistics. As one German derivatives dealer has  stated, “The Maastricht rules can be circumvented quite legally through  swaps.”[Spiegel]
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    In  the same way that homeowners take out a second mortgage to pay off  their credit card debt, Goldman Sachs and JP Morgan Chase and other U.S.  banks helped push government debt far into the future through the derivatives market. This was done in Greece, Italy, and likely several  other euro-zone countries as well. In several dozen deals in Europe,  “banks provided cash upfront in return for government payments in the  future, with those liabilities then left off the books.” Because the  deals are not listed as loans, they are not listed as debt  (liabilities), and so the true debt of Greece and other euro-zone  countries was and likely to a large degree remains hidden. Greece effectively mortgaged its airports and highways to the major banks in order to get cash up-front and keep the loans off the books, classifying  them as transactions.[New York Times]
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    Further, while Goldman Sachs was helping Greece hide its debt from the official  statistics, it was also hedging its bets through buying insurance on  Greek debt as well as using other derivatives trades to protect itself  against a potential Greek default on its debt. So while Goldman Sachs  engaged in long-term trades with Greek debt (meaning Greece would owe  Goldman Sachs a great deal down the line), the firm simultaneously was  betting against Greek debt in the short-term, profiting from the Greek  debt crisis that it helped create.[Business Insider]

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July 19, 2011 Posted by | Economics | , , , , , , , , | Comments Off

Rense & Celente: Stop The Debt Sellers! Imminent Economic Collapse!

July 19, 2011 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , | Comments Off

Dr Scott Johnson: The Bohemian Grove Exposed ! Leaders of The World And Their Satanic Club!

  • The world is ruled by a Satanic elite. Dr. Scott Johnson covers the history of the Bohemian Grove and exposes the prominent western leaders who attend this club. They include: Jimmy Carter, George HW Bush (41st President, “Gog”, Skull & Bones) and his son George W Bush (43rd, Skull & Bones), Rockefeller, Nixon … etc. See also: http://www.contendingfortruth.com/
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    YouTube:
    Bohemian Grove is a 2,700-acre campground located at 20601 Bohemian Avenue, in Monte Rio, California, belonging to a private San Francisco-based men’s club known as the Bohemian Club. In mid-July each year, Bohemian Grove hosts a 2-3 week encampment of some of the most powerful men in the world. Each year, up to 2900 of the world’s most influential CEO’s, government officials, financiers, industrialists, and media moguls gather to hear speeches, network, and share common agendas. Jesus said “in secret have I done nothing” (John 18:20), because He had nothing to hide.
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    Why the secrecy from our nation’s top leaders? A bizarre pagan ritual of the Bohemian Grove, the Cremation of Care ceremony, is practiced by its members (all men), including both Presidents Bush, Ronald Reagan, Richard Nixon, Jimmy Carter, Colin Powell, Walter Cronkite and Henry Kissinger to name but a few. Each Year at Bohemian Grove, Members of This All-Male “Club” don red, black and silver robes to conduct an occult ritual wherein they worship a giant 40 ft. stone owl while sacrificing a mock human being (in effigy) to what they call the “Great Owl of Bohemia.” To which Romans 1:22,23 comes to mind: “Professing themselves to be wise, they became fools, And changed the glory of the uncorruptible God into an image made like to corruptible man, and to birds, and fourfooted beasts, and creeping things.” We will be looking at many aspects of this topic as well as how Molech, Lilith, Athena, Minerva could play a part in this debauchery.

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July 19, 2011 Posted by | EndTimes, History, Social Trends | , , , , | 2 Comments

Bohemian Grove 2011 Cremation Of Care Interviews! Western Leaders Gather For Satanic Ritual !

Bohemian Grove. Devil Worshippers! Sacrificing to Molech Owl!

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July 19, 2011 Posted by | Social Trends | , , | 2 Comments

   

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