Socio-Economics History Blog

Socio-Economics & History Commentary

NATO War Crimes In Libya! ‘Before NATO Intrusion, Libya was African Switzerland’!

September 26, 2011 Posted by | GeoPolitics | , , , , , , , , , | 1 Comment

Norman Finkelstein: Israel a ‘Lunatic’ Nuclear State!

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

September 26, 2011 Posted by | GeoPolitics | , , , , , , , | Comments Off

Dr Norman Finkelstein Telling The Truth About Israel !

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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September 26, 2011 Posted by | GeoPolitics | , , , , , | Comments Off

Tad Lumpkin: Bankster Shake-Down!

September 26, 2011 Posted by | Economics | , , , , , , , , , , , | Comments Off

Peter Dale Scott: American War Machine!

September 26, 2011 Posted by | GeoPolitics, History | , , , , , , , , , | Comments Off

Meltdown Fears For Euro As G20 Makes Plans For Athens To Default on Debt!

  • This coming collapse will start in the PIIGS, spread to the rest of Eurozone, UK, Japan … and finally America. The rest of the world will tank as the tsunami waves of financial collapse reach them. All fiat currencies are scheduled for destruction via hyperinflation. The Illuminist plan to ‘solve’ the financial tsunami is QE to infinity! This guarantees currency debasement and currency war. Got physical gold/silver yet? This sharp correction in prices of gold/silver looks like the final correction before they explode astronomically higher. Gold will be around US$3,500/oz and silver US$150/oz within a year! Do not be afraid ! The Indians and Chinese are buying physical gold/silver with both hands! (emphasis mine)
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    Meltdown fears for euro as G20 makes plans for Athens to default on debt
    By Ben Chu in Washington and Margareta Pagano, http://www.independent.co.uk/
    Finance Minister signals Greece may opt for 50 per cent writedown on bonds as top economist warns Spain and Italy could be forced out of single currency
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    The world’s leading economic powers are moving towards an acceptance that Greece will default on up to half of its €350bn sovereign debts, according to reports from meetings in Washington yesterday. They are believed to be working on concrete plans to deal with these huge losses and their repercussions.
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    This news – almost regardless of any words of qualification that emerge this weekend – will have a resounding effect on the febrile markets when they open on Monday.
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    Unconfirmed reports circulated yesterday that G20 leaders have recognised that the Athens government cannot cope with the scale of its debt burden and that there will eventually need to be a considerable reduction in the face value of Greek debt. The Finance Minister, Evangelos Venizelos, was quoted by two Greek newspapers as suggesting that a 50 per cent writedown for the holders of Greek bonds would be the “best option”.
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    The priority for national policymakers now, apparently, is to contain the impact by recapitalising banks and boosting the powers of the European bailout fund by the time of the next G20 meeting in November.
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    Last night, the Chancellor, George Osborne, said: “There is a recognition here that the global debt crisis has entered a dangerous phase.” Asked whether the G20 was preparing for a Greek default, he tried to dampen speculation by saying: “No one has put forward a plan for a Greek default.”
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    The reports that officials are planning for default coincided with a warning from Dr Nouriel Roubini, the economist known as “Dr Doom” since he predicted the 2008 credit meltdown, that unless European leaders beef up the resources of the eurozone bailout fund, Italy and Spain could be forced out of the euro by panicking markets.
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    The US economist said in an interview: “Italy and Spain are toast, unless we have a tripling or four times as much of official resources to backstop them.” In the interview with Emerging Markets magazine, he said that another global downturn is now inevitable and that the only open question is how severe it will be. “At this point the debate is not whether we’re going to have a double-dip recession or not. The double dip has started. The only question is whether we are going to have a mild recession in advanced economies or whether we’re going to have a severe recession… The answer depends on whether you can keep Italy and Spain.”
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    G20 leaders, meeting in Washington yesterday, pledged to take decisive action to halt the crisis over eurozone sovereign debt, which has triggered turmoil in the financial market after the delay in approving the Greek bailout package agreed in July.
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    This followed an earlier pledge made by the G20 finance ministers on Friday to “maximise” the impact of the bailout fund, although they gave no specifics.
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    The US Treasury Secretary, Timothy Geithner, stressed in a BBC interview that the costs of the crisis are growing with each day the eurozone leaders fail to take decisive action. “These things have the classic dynamic that the longer you wait, the harder it is to solve, the more expensive it is to solve. There’s a huge premium on early action.” But he also claimed that the penny has finally dropped for European politicians. “I believe, on the basis of all my private conversations, that the leadership of Europe are going to move more forcefully and do what’s necessary to reverse this erosion of confidence.”
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    …. for the full article click here!

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September 26, 2011 Posted by | Economics | , , , , , , , , , , , | Comments Off

EU Given Six Weeks To Protect Itself Against ‘Inevitable Greek Default’!

6 weeks to Armageddon?

  • Behind the scenes, Eurozone governments are preparing for a Greek default ! I do not believe that it can be contained because the Illuminists will intentionally attack the Eurozone and bring down the system. Are you prepared for the coming global economic, financial and monetary meltdown? Got physical gold/silver yet? They are looking awfully cheap and deeply oversold. Silver it appears is running out of stock! The bullion banksters can manipulate the paper silver and gold prices lower all they want. But they cannot deliver physical goods. They have created a wonderful gift of exceptionally low prices! What are you waiting for? (emphasis mine)
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    EU given six weeks to protect itself against ‘inevitable Greek default’
    Heather Stewart and  http://www.guardiannews.com/uk-home
    IMF tells eurozone EFSF may need to be boosted five-fold to £1.7tn to convince markets that default could be contained
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    European Union governments will spend the next six weeks building a financial firewall to protect their fragile banking systems against what is now seen as an inevitable Greek default.
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    G20 sources said that up to 50% was likely to be wiped from the face value of Greece‘s €350bn debt – but not until Europe had put into place a war chest to prevent the contagion spreading.
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    More money will be disbursed by the International Monetary Fund and the EU next month to keep the Greek government afloat, but this is seen as a short-term fix while Europe’s leaders beef up the eurozone bailout fund, the European Financial Stability Facility.
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    Europe came under ferocious pressure at this weekend’s IMF meeting in Washington to contain the spiralling crisis, which is blamed for dragging the global economy to the brink of a double-dip recession. The IMF is reportedly willing to continue bailing out Greece in the short-term, provided that Europe uses the time to tackle the issue of debt once and for all. The Washington-based lender believes the 18-month delay since Greece was first bailed out last spring has exacerbated the crisis.
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    Tim Geithner, the US treasury secretary, said: “The threat of cascading default, bank runs and catastrophic risk must be taken off the table, otherwise it will undermine all other efforts, both within Europe and globally. “Decisions as to how to conclusively address the region’s problems cannot wait until the crisis gets more severe.”
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    Officials attending this weekend’s meetings suggested that the EFSF may have to be boosted to up to £1.7 trillion, almost five times its current size, to convince markets that it could contain the destabilising impact of a Greek default. Instead of European governments being forced to pour in cash up front, Geithner and others are calling for the EFSF to be allowed to underpin the operations of the ECB, by guaranteeing to bear part of any losses it is forced to take on sovereign bonds. That could massively boost the ECB’s buying power and help it to damp down the crisis in the event of a Greek default.
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    The US and Britain believe that Europe needs to deploy massive firepower to prevent a domino effect from Greece bringing down the other vulnerable members of the eurozone such as Portugal, Italy and Spain. However, ministers are reluctant to admit publicly that a Greek default is inevitable. George Osborne said in Washington: “No one here has put forward a plan for that; Greece has got a programme and needs to implement it.”
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    … for the full article click here!

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September 26, 2011 Posted by | Economics | , , , , , , , , , , , | Comments Off

World Bank Chief: ‘World is in a Danger Zone’!

  • The IMF, World Bank, FedRes, ECB, BIS …. and most central banks are privately owned Illuminist organizations. The Illuminists are the cause of the current crisis. They are engineering a worldwide economic, financial and monetary collapse to lay the foundation for their coming Luciferian New World Order, Global Fascist Military-Police State, Global Supra-National Central Bank, One World Currency … ’666′! Here is the Illuminati organization chart:

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

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September 26, 2011 Posted by | Economics | , , , , , , , , , , | 1 Comment

Geithner Plan for Europe is Last Chance To Avoid Global Catastrophe! Yeah Right !

Tim Geithner - Council on Foreign Relations, Illuminati!

  • “It was a carefully contrived occurrence. International bankers sought to bring about a condition of despair, so that they might emerge the rulers of us all.“
    Louis McFadden on 1929 Stock Market Crash. Louis McFadden died of poisoning shortly thereafter.
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  • Whatever CFR snake Tim Geithner comes up with I seriously doubt it will avert the coming global collapse. The US$600T derivatives market (some say US$1.5 Quadrillion) is imploding. How exactly do you find the money to fill up this US$600T hole? It is 9x the size of the global GDP! In the end, the Illuminist banksters will initiate QE to infinity. The Euro, UKP, Yen .. and USD will be toast! Minor currencies will not survive the onslaught of hyperinflation! Got physical gold/silver yet? They are looking awful cheap! (emphasis mine)
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    Geithner Plan for Europe is last chance to avoid global catastrophe
    By , http://www.telegraph.co.uk/
    Europe, the G20, and the global authorities have one last chance to contain the EMU debt crisis with a nuclear solution or abdicate responsibility and watch as the world slides into depression, endangering the benign but fragile order that has taken shape over the last three decades.
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    The threat of cascading default, bank runs, and catastrophic risk must be taken off the table,” said US Treasury Secretary Tim Geithner over the weekend. “Sovereign and banking stresses in Europe are the most serious risk now confronting the world economy. Decisions cannot wait until the crisis gets more severe.”
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    Euroland’s dysfunctional arrangements are no longer a local affair. As the European Central Bank’s Jean-Claude Trichet said in Washington, EMU is at the epicentre of a global sovereign debt crisis that risks engulfing all, and is more intractable than 2008 because governments themselves are now crippled.
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    China, India, Brazil and the world’s rising powers will not escape lightly this time if leaders let events spiral out of control. European banks have lent $3.4 trillion to emerging markets (BIS data), or three quarters of external loans to these countries.
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    The International Monetary Fund warned last week that emerging markets face the risk of “sharp reversals” or even a “sudden stop” if there is further spill-over from Europe. This comes at a time when Asia and parts of Latin America are already in the topping phase of a credit boom, one of epic proportions in China where loans have doubled to almost 200pc of GDP over the last five years.
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    Warning signs have been flashing red for the last three weeks. Shares of China’s top property developer Greentown have crashed by a third this month. The currencies of Indonesia, Brazil, Korea, South Africa, and Hungary have all buckled, and central banks have begun intervening to stop the slide. ”A continued flight from risk raises the growing possibility of investor capitulation in emerging markets,” said Neil Mellor from BNY Mellon.
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    The reserve powers would be well advised to pull out all the stops to save Europe and its banking system. Together they hold $10 trillion in foreign bonds. If they agreed to rotate just 4pc of these holdings ($400bn) into Spanish, Italian, and Belgian debt over the next two years, they could offer a soothing balm. None has yet risen to the challenge. It is `sauve qui peut’, with no evidence of G20 leadership in sight.
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    Once again, the US has had to take charge. The multi-trillion package now taking shape for Euroland was largely concocted in Washington, in cahoots with the European Commission, and is being imposed on Germany by the full force of American diplomacy.
    ….
    Even if the €2 trillion “Geithner Plan” does get off the ground, it can do no more than buy time – not to be sneezed at, for sure. The root of the euro crisis is a 30pc intra-EMU currency misalignment between North and South. That structural flaw cannot be solved with debt guarantees or bank rescues.
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    Nor can this gap in competitiveness be bridged by austerity alone, by pushing Club Med deeper into debt-deflation and perma-slump. Such a strategy must slowly eat away at Italian and Spanish society, undercutting the whole purpose of the EU Project. It would ultimately risk trapping them in a debt spiral as well, leading to collosal losses for Germany in the end.
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    The Geithner Plan must be accompanied a monetary blitz, since the fiscal card is largely exhausted and Germany refuses to lower its savings rate to rebalance the EMU system. The only plausible option is for the ECB to let rip with unsterilized bond purchases on a mass scale, with a treaty change in the bank’s mandate to target jobs and growth.
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    This would weaken the euro, giving a lifeline to southern manufacturers competing with China. It would engineer an inflationary mini-boom in Germany, forcing up relative German costs within EMU. That would be the beginning of a solution, albeit a bad one.
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    Sorry Deutschland. History has conspired against you, again. You must sign away €2 trillion, and debauch your central bank, and accept 5pc inflation, or be blamed for Götterdämmerung. It is not fair but that is what monetary union always meant. Didn’t they tell you?
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  • Quotes:
    -
    “We shall have world government whether or not you like it, by conquest or consent.”
    Statement by Council on Foreign Relations (CFR) member James Warburg to The Senate Foreign Relations Committee on February 17th, 1950
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    “The Council on Foreign Relations is ‘the establishment’. Not only does it have influence and power in key decision-making positions at the highest levels of government to apply pressure from above, but it also announces and uses individuals and groups to bring pressure from below, to justify the high level decisions for converting the U.S. from a sovereign Constitutional Republic into a servile member state of a one-world dictatorship.”
    Former Congressman John Rarick 1971
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    “The directors of the CFR (Council on Foreign Relations) make up a sort of Presidium for that part of the Establishment that guides our destiny as a nation.”
    The Christian Science Monitor, September 1, 1961
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    “The New World Order will have to be built from the bottom up rather than from the top down…but in the end run around national sovereignty, eroding it piece by piece will accomplish much more than the old fashioned frontal assault.”
    CFR member Richard Gardner, writing in the April 1974 issue of the CFR’s journal, Foreign Affairs.
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    “The planning of UN can be traced to the ‘secret steering committee’ established by Secretary [of State Cordell] Hull in January 1943. All of the members of this secret committee, with the exception of Hull, a Tennessee politician, were members of the Council on Foreign Relations. They saw Hull regularly to plan, select, and guide the labors of the [State] Department’s Advisory Committee. It was, in effect, the coordinating agency for all the State Department’s postwar planning.”
    Professors Laurence H. Shoup and William Minter, writing in their study of the CFR, “Imperial Brain Trust: The CFR and United States Foreign Policy.” (Monthly Review Press, 1977).
    -
    “The most powerful clique in these (CFR) groups have one objective in common: they want to bring about the surrender of the sovereignty and the national independence of the U.S. They want to end national boundaries and racial and ethnic loyalties supposedly to increase business and ensure world peace. What they strive for would inevitably lead to dictatorship and loss of freedoms by the people. The CFR was founded for “the purpose of promoting disarmament and submergence of U.S. sovereignty and national independence into an all-powerful one-world government.”
    Harpers, July 1958

end

September 26, 2011 Posted by | Economics | , , , , , , , , , , , , , | Comments Off

£1.75 Trillion Deal To Save The Euro!

Will not be missed !

  • This is just a new scam the Illuminists came up with for the total bankrupting of all Eurozone countries. The lynch pin of the Eurozone: Germany will be bankrupted with this move. Private bankster debts have been socialized since 2008. The debts have been shove down the throat of the public. Greece will default and trigger the falling dominoes. This is a planned global economic, financial and monetary collapse. Got physical gold yet? It is a great time to buy!
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    £1.75 trillion deal to save the euro
    By http://www.telegraph.co.uk/
    British taxpayers risk being caught up in a £1.75trillion deal aimed at saving   the euro by allowing Greece to default on its massive debts.
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    The three-pronged deal would set up a massive fund to create a “firewall” around the most indebted eurozone countries, allow for an “orderly” Greek default on at least some of its liabilities, and bail out European banks most at risk from debt.
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    German and French officials came up with the strategy which aims to end the eurozone’s sovereign debt crisis before it spirals completely out of control, plunging the world back into recession.
    ….
    The eurozone deal, being brokered by the G20 group of nations, would seek to “ring fence” the crisis around Greece, Portugal and Ireland – preventing it from spreading to major EU economies such as Italy and Spain.
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    It would involve the bailing out those European banks – mostly French – most at risk from their massive lendings to tottering economies. Greece, crucially, would be able to default on at least some of its more than £300billion debts but remain inside the eurozone. The Greek government’s private creditors would bear most of the increased costs.
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    At this stage, a new bail-out programme would be devised for Greece – with cash coming at least in part from the International Monetary Fund, in which Britain holds a 4.5 per cent stake. This could mean British taxpayers paying out more than the £1billion they are already slated to have to contribute under the terms of the first Greek   bailout fund.
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    Britain is not a member of the European Financial Stability Fund (EFSF) - which was set up last year to “preserve financial stability of Europe’s monetary union” by providing temporary financial assistance to eurozone countries in difficulty.
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    Most of the money in the new rescue package would come from the EFSF - limiting Britain’s involvement. The fund is currently valued at £350billion, but would need much more cash pumped into it from its members states. Britain’s banks, moreover, are not among the most exposed to Greek debt.
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    The deal would also use cash to buy up the government bonds issued by Italy and Spain – which are currently going unsold and adding to the peril surrounding the eurozone’s third and fourth largest economies.
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    In total it would amount to euro 2 trillion – £1.75 trillion.
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    … for the full article click here!

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September 26, 2011 Posted by | Economics | , , , , , , , , | Comments Off

The €2 Trillion Fund To Save The Euro!

RIP: Rest In Pieces

  • This is really about saving the banks by financially raping the sheeple. Of course, the Illuminists will never put it truthfully. They will promote a massive amount of fear: the Euro will collapse if you don’t save the banks. I say let the Euro collapse and all 17 countries go back to their own currencies. The Euro is a deeply flawed currency and is set up for failure from day 1. It is all about engineering a massive crisis to gain more power and control and the destruction of sovereignties. This €2 Trillion Fund will not work. Where is the money going to come from when every single nation is deep in debt? It is just a final financial rape of the taxpayer sheeple turning them into perpetual debt slaves! The Euro will definitely collapse!
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    The €2 Trillion Fund To Save The Euro!
    By http://www.telegraph.co.uk/
    The numbers keep getting bigger. When the European Financial Stability Facility (EFSF) was created in May last year it was underwritten to the tune of €440bn (£384bn).
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    This was bolstered by $60bn (£38.9bn) from the European Financial Stabilisation Mechanism and $250bn from the International Monetary Fund (IMF). Wind the clock forward and the sums talked about at the IMF in Washington over the weekend were almost three times that amount. After months of prevarication and political buck-passing European leaders have woken up to the fact that more money, action and structural change is required if the euro is to survive.
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    The plan that emerged over the weekend included €2trillion to be raised for the EFSF, a 50pc default on Greece’s €350bn of debt and for European banks that hold that debt, largely French and German, to be bailed out.
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    The sums are huge, but then so are the problems. Unfortunately for those tasked with sorting them out the problems are increasingly political as much as economic. For the new, larger plan to be put into action it will require the backing of eurozone member states’ national governments. Changes to the current €440bn facility that will allow it to be used to support banks are currently being ratified by individual countries. Germany, which supports over a quarter of the current fund, will vote later this week.
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    There can be no certainty the current vote will be won. If the Bundestag is asked to stump up another €500bn the problems will only mount.
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    Raoul Ruparel, analyst at think tank Open Europe, said: “This plan remains very much up in the air. The issue will be getting approval and what price would be extracted for that. A lot of Parliaments, Slovakia, Netherlands, Germany, are hesitant about giving the EFSF more scope to act. Will Germany ask for greater say in how this money is spent? If so it will only slow everything down which is not ideal.”
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    The idea behind the larger bail-out is that it would deal with the problems in Greece without excluding the country from the eurozone. It would also strengthen those banks exposed to Greek debt. A combination of these two measures and the extra cash available would then create a firewall around the other problematic economies of Spain, Portugal, Ireland and Italy.
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    Combine this with talk of an emergency interest rate cut from the European Central Bank and you have signs that action is finally being taken.
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    … for the full article click here!

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September 26, 2011 Posted by | Economics | , , , , , , , , | Comments Off

IMF: ‘We Are in a Precarious Situation’ Over Euro Crisis!

September 26, 2011 Posted by | Economics | , , , , , | Comments Off

   

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