Socio-Economics History Blog

Socio-Economics & History Commentary

European Markets Rattled by Dexia!

October 5, 2011 Posted by | Economics | , , , , , | Comments Off

Jeffrey Sachs: Greek Default Could Rip Apart Euro Zone!

October 5, 2011 Posted by | Economics | , , , , , , , | Comments Off

Max Keiser: America’s Financial Vietnam!

October 5, 2011 Posted by | Economics, Social Trends | , , , , , , , , , , | Comments Off

The 13th Tribe of Khazaria! Ashkenazi Khazars Are Not The Jews of The Bible!

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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October 5, 2011 Posted by | History | , , , , , , | 30 Comments

Italy Downgrade Deepens Contagion Fears Over Euro Debt Crisis!

Will the Italian boot kick the bucket?

  • The Illuminists are about to pull the plug and initiate the global meltdown. This is a planned, control demolition by the Illuminists. They are aggressively attacking the price of gold (and silver) to prevent the sheeple from realizing that it is the safest asset. They want to maintain their global monetary (USD) hegemony as long as possible until the final trigger pull. Do not be taken for a ride. Gold will rise spectacularly as money flees one currency after another and eventually flees US treasuries and USD!
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    Italy downgrade deepens contagion fears over euro debt crisis
    by Dominic Rushe, guardian.co.uk 
    Ratings agency Moody’s slashes Italy debt rating by three points, increasing pressure on European governments trying to contain financial crisis.
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    Italy‘s sovereign debt rating has been cut for the second time in as many weeks, with ratings agency Moody’s citing “sustained and non-cyclical erosion of confidence” as it slashed its forecast for the country.
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    In a report released after US stock markets closed on Tuesday, Moody’s downgraded Italy’s government bond ratings from Aa2 to A2 with a “negative outlook”, suggesting further cuts could be to come. The move threatens to increase Italy’s cost of borrowing, and will add yet more pressure to European finance ministers now wrestling with a financial crisis that has spread across the continent.
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    Italy’s prime minsiter Silvio Berlusconi criticised Moody’s rival Standard & Poor’s when it cut Italy’s credit rating last month, saying the ratings agency’s action was “dictated more by newspaper stories than by reality”.
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    In its report, Moody’s said the decision had been driven by three main factors: the debt crisis, which was causing a “sustained and non-cyclical erosion of confidence” in Europe and increasing “long-term funding risks” for Italy; the increased downside risks to economic growth due to macroeconomic structural weaknesses; and a weakening global outlook.
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    “The implementation risks and time needed to achieve the government’s fiscal consolidation targets to reverse the adverse trend observed in the public debt, due to economic and political uncertainties,” Moody’s said.
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    The Italian government said in a statement that the decision was expected, and reiterated its pledge to balance its budget. Italy last month approved a €54bn package of austerity measures aimed at eliminating the country’s budget woes and that it hoped would stave off a Moody’s downgrade. The pledge to cut government spending and raise taxes met with cautious approval from Brussels, the European Central Bank and the International Monetary Fund but has not appeased Moody’s.
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    “Even if policy actions were to succeed in the short term in returning some degree of normality to euro area sovereign debt markets, the underlying fragility and loss of confidence is deep and likely to be sustained,” Moody’s said in its report.
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    “The Italian economy continues to face significant challenges due to structural economic weaknesses. These problems — mainly low productivity and important labour and product market rigidities — have been an impediment to the achievement of higher potential growth rates over the past decade and continue to hinder the economy’s recovery from the severe recession it experienced in 2009,” said Moody’s.
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    …. for the full article click here!

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October 5, 2011 Posted by | Economics | , , , , , , | Comments Off

Dexia Rescue Moves Bank Crisis From Europe’s Periphery To Core!

Days / weeks to Armageddon?

  • The financial tsunami is getting closer and closer. The sheeple are still asleep. Things are about to blow up and its ramifications unpredictable. Gold and silver look pretty cheap. Make sure you get out of harm’s way!
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    Dexia Rescue Moves Bank Crisis From Europe’s Periphery to Core
    By Gavin Finch, Liam Vaughan and Anne-Sylvaine Chassany

    http://www.bloomberg.com/
    Less than three months after Dexia SA (DEXB)got a clean bill of health in European Union stress tests, France and Belgium are considering a second bailout, moving the banking crisis from the continent’s periphery to its heartland.
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    “We’re seeing a practical example of contagion playing out,” said Jean-Pierre Lambert, an analyst at Keefe Bruyette & Woods in London, referring to Dexia’s “material exposure” to the debt of countries on the EU’s rim. “Investors aren’t quite sure what the sovereign debt losses will be, nor where the share price should be. They are concerned about the risks and reduce their funding.”
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    Dexia shares fell 22 percent yesterday, the most of any company in the 46-member Bloomberg Europe 500 Banks and Financial Services Index, even as the French and Belgian governments pledged to support the bank. The two countries, which bailed out Dexia in 2008, will take “all necessary measures” to protect clients and will guarantee all of Dexia’s loans, French Finance Minister Francois Baroin and Belgian Finance Minister Didier Reynders said in a statement yesterday.
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    Yves Leterme, Belgium’s prime minister, said yesterday that a “bad bank” to hold Dexia’s troubled assets will be set up. The board of the Paris- and Brussels-based municipal lender met Oct. 3 to discuss a breakup of the bank after the sovereign debt crisis reduced its ability to obtain funding, said three people with knowledge of the talks.
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    U.S. stocks rallied at the end of trading in New Yorkyesterday, driving the Standard & Poor’s Index up 4.1 percent in the final 50 minutes, amid speculation EU officials are examining the need to recapitalize the region’s banks.
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    Shunning Banks
    Investors are shunning European lenders, whose shares are down 36 percent this year, on concern that the sovereign debt crisis has undermined their ability to fund themselves. U.S. money-market funds cut their holdings of commercial paper sold by foreign financial firms, mostly European, by 31 percent in the third quarter, according to data compiled by Bloomberg.
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    The European Central Bank has been providing banks with as much short-term euro funding as they need at its benchmark rate against eligible collateral since October 2008, after the collapse of Lehman Brothers Holdings Inc. triggered a global recession. It has been forced by the debt crisis, spreading beyond Greece to Italy and Spain, to extend those measures and in August reintroduced longer-duration, six-month euro loans.
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    The ECB also joined with the U.S. Federal Reserve and other central banks on Sept. 15 to lend dollars to euro-area banks with three-month loans to ensure lenders have enough of the currency through the end of the year.
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    …. for the full article here!

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October 5, 2011 Posted by | Economics | , , , , , , , | Comments Off

Who’s Next as Dexia Takes First Step Towards Rescue?

  • This Eurozone collapse will spread to the rest of the world. We are too inter-connected for any region to escape its effects. Asia will not escape this coming global economic, financial and monetary meltdown! Got physical gold yet?
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    Who’s next as Dexia takes first step towards rescue?
    By , Banking Correspondent,
    http://www.telegraph.co.uk/
    So after more than a month of speculation and rumour, Dexia looks set to become the first French lender to succumb to the inevitability of a state-led rescue as it stands on the verge of break-up.
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    With bond markets shut since May, interbank funding in seizure, and money market investors withdrawing all but the most short-term financing it has been only a matter of time before a major bank would hit the wall. Like 2008 and the inexorable fall of banking dominoes, the question now is who is next?
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    Societe Generale’s deputy chief executive and chief financial officer speaking at a banking conference this morning have repeated their insistence the French lender remains “fundamentally robust”.
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    Maybe it is, but in these markets few investors are prepared to give management teams the benefit of the doubt. Lehman Brothers, Royal Bank of Scotland, Landsbanki – all gave impassioned protestations they were fine, until they were not.
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    More than a few analysts are reaching the conclusion that a new round of government rescues and restructurings are on the cards. SocGen’s own analysts yesterday recommended that clients buy protection against the debt of Barclays, warning the bank may not be able to generate sufficient internal capital to meet the incoming Basel III capital requirements.
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    It seems likely that RBS and Lloyds Banking Group could require some additional form of state support within the next six months. This will most likely lead to a new round of so-called “bank bashing” – this will be unfair. RBS and Lloyds have been doing all the right things to reduce risk, there problem is this latest leg of the crisis has come upon them too quickly.
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    Another year or two of asset reductions and they could probably have weathered the storm alone, as it is RBS could well face full nationalisation within the next six to 12 months and Lloyds some new form of liquidity support.
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    However, compared to what faces their Continental peers this will seem mild. Since 2008 many of Europe’s major banks have chosen to ignore the warning signals from the markets and have continued with business as normal, pretending the crisis was an “Anglo-Saxon” phenomenon and nothing to do with them.
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    …. for the full article click here!

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October 5, 2011 Posted by | Economics | , , , , , | Comments Off

Dexia Bank Goes Bust ! France And Belgium ‘Guarantee’ Dexia Bank Finances!

  • A major Franco-Belgium Bank: Dexia has gone bust! It is affecting other European banks, rumored to be SocGen? BNP?… ?? Most major western banks are insolvent. They have many toxic ‘assets’ that are hidden off balance sheet or marked to model/fantasy instead of market value! Got physical gold yet?
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    France and Belgium ‘guarantee’ Dexia bank finances
    By
    http://www.telegraph.co.uk/
    French and Belgian government stepped in to guarantee the finances of Dexia after shares in the troubled bank tumbled more than 37pc on talk that it will be broken up.
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    The governments, working with central banks, said they would take all measures necessary to protect Dexia’s account holders and creditors. “To this end, they pledge to guarantee financing raised by Dexia,” Francois Baroin and Didier Reynders, the countries’ finance ministers, said in a joint statement.
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    The statement made clear the aim was to protect account holders and creditors of the Franco-Belgian financial group. Dexia shares, which fell 10pc yesterday after Moody’s warned it could be downgraded, fell heavily during early trading after the company’s board urged its chief executive Pierre Mariani to fix the lender’s “structural problems”.
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    The announcement by the lender followed an emergency board meeting last night where a break-up of the bank was though to have been discussed.
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    “In the current environment, the size of the non-strategic asset portfolio impacts the group structurally,” Dexia said in a statement on Tuesday. “This is why the board of directors asked the chief executive officer, in consultation with the relevant governments and the supervisory authorities, to prepare the necessary measures to resolve the structural problems.”
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    Dexia is still labouring to resolve funding issues that led to a bailout during the 2008 financial crisis, when short-term credit dried up. At the time much of its long-term lending to public authorities was financed by short-term borrowing.
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    On top of that it has heavy exposure to Greek debt, which has weighed on the shares as markets bet that a Greek default is inevitable.
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    …. for the full article click here!

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October 5, 2011 Posted by | Economics | , , , , | Comments Off

Banks in Europe Face Huge Losses From Greece!

Shares of Dexia, the large French-Belgian bank, collapsed in recent days. Banking woes prompted a broad market sell-off in Europe on Tuesday. Yves Herman/Reuters

  • We are very close to a global collapse. Greece will default. This is a foregone conclusion. Its debts are still rising despite 2 years of so-called bailout and austerity programs. Of course, the Illuminist banksters do not want Greece to get out of the noose. They know what they press for: austerity programs, will make things worse for Greece. It is simply financial rape of the Greeks.
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    Banks in Europe Face Huge Losses From Greece
    By LANDON THOMAS JR.,
    http://www.nytimes.com/
    Europe’s biggest banks may finally be forced to own up to their losses. While bank executives and government leaders have been reluctant to acknowledge that the hundreds of billions of euros of Greek debt held by financial institutions is worth far less than its face value, they are slowly accepting the grim reality, as investors, clients and lenders grow increasingly wary.
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    On Tuesday, Deutsche Bank said it would not meet its profit goals for the year, citing investor uncertainty and losses on Greek bond holdings. Government officials are debating dismantling Dexia, the large French-Belgian bank, and warehousing its troubled assets in a bad bank.
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    The latest woes prompted a broad market sell-off in Europe, hitting banks in France and Germany particularly hard. Wall Street, dragged down early by the problems on the Continent, lifted at the close, after reports that European financial officials were considering ways to shore up the industry.
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    As Europe’s debt crisis continues to fester, financial firms exposed to troubled sovereign debt face a brutal fallout. Weaker banks are moving closer to the embrace of their governments. Shares of Dexia — which held more than 21 billion euros of Greek, Italian, Spanish and Portuguese bonds at the end of last year — collapsed in recent days. The situation led the Belgian and French governments, three years after originally bailing out Dexia, to guarantee the bank’s future financing needs.
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    For stronger banks like Deutsche Bank, the biggest in Germany, the pressure is building to cut costs and raise capital. On Tuesday, Deutsche said that it could no longer meet its 2011 profit target of 10 billion euros, or $13.3 billion. The bank said it would take a loss of 250 million euros on its Greek debt and cut 500 investment banking jobs, most of them outside Germany.
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    By the numbers, a write-down on Greek debt should be affordable. Some banks have already marked down their holdings to market prices. But several of the biggest holders, including Dexia, Société Générale, BNP Paribas and two German-owned state banks, have resisted admitting that their Greek bonds are worth, at best, 50 percent of their face value. Dexia has 3.4 billion euros on its books while Deutsche Bank holds 1.1 billion euros.
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    European policy makers are fearful of pushing Greece into default. Regulators want to wait until they can erect a firewall around Italian and Spanish debt and protect the European banks holding the bonds on their balance sheets at near or face value.
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    …. for the full article click here!

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October 5, 2011 Posted by | Economics | , , , , , , | Comments Off

Henry Makow: Satanic Debt Racket Exposed in Banker’s Novel !

  • There are 13 Satanic bloodlines. The 13th is the Merovingian bloodline. It is from this bloodline that the Luciferians believe their ‘messiah’, the Anti-Christ, bringer of false peace, the white horseman of Revelation 6… will come from. (emphasis mine)
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    THE MEROVINGIAN DYNASTY
    SATANIC BLOODLINE OF THE ANTICHRIST & FALSE PROPHET
    PART II – IDENTITY OF THE FALSE CHRIST
    …
    Charlemagne was also Jewish, his descendants claiming the pedigree of tribe of Judah, whereas the Merovingians were of the apostate tribe of Dan:
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     Incredibly, Charlemagne’s Jewish name was David Kalonymus…  “The Carolingian Dynasty were the direct descends of the House of David of the tribe of Judah on their male lineage. The Merovingian Kings were direct descendants of the Tribe of Dan through their ancestress’ rape by the Prince of Dan (also called the Beast of Poseidan / Neptune). Queen Argotta was raped by Dan the Sea King and her son Clodion the Hairy was adopted and brought up by Pharamond (Faramund) who was a Davidic descendant of St Joseph of Arimathea. It was Clodion who brought the custom of Long hair in to the Frankish Kingdom as descendants of Samson of the Tribe of Dan. Like Samson their long hair was invested with mystic power. Clodius was also called Merovee I (from the Sea). From him the dynasty took its name of Merovingian. It was believed that a Danite descendant of the Merovingians would claim Davidic descent and be an antichrist figure opposed by a true Great Davidic King descended from Constantine, Arthur and Charlemagne from among the lands of Joseph and Ephraim (the Lost Tribes in the Western Refuge or Exile of Zarephath).” (The Trojan House of Charlemagne)
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    THE LOST TRIBE OF DAN
    THE EARLY JEWISH & CHRISTIAN VIEW OF THE IDENTITY OF THE ANTICHRIST
    …. The Merovingians, who plan to rule the world from their future throne at Jerusalem, claim to come from the tribe of Judah through Jesus Christ and Mary Magdalene. However, the weight of evidence indicates that they descended from the tribe of Dan. Although Scripture states that Samson was “of the family of the Danites” [Judges 13:2], Yair Davidy of Brit-Am Israel claims that his lineage includes the Messianic tribe of Judah: “Samson the superman hero came from the Tribe of Dan but his mother was from Judah. Samson, in some respects, was considered a forerunner of the Messiah who will come from Judah but his mother, according to the Midrash will be of the Tribe of Dan.” [Brit-Am Israel newsletter, 2/9/99]
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    Genesis 49
    Jacob’s Last Words to His Sons
    1 And Jacob called his sons and said, “Gather together, that I may tell you what shall befall you in the last days:
    ….
    16“Dan shall judge his people
          As one of the tribes of Israel.
    17  Dan shall be a serpent by the way,
          A viper by the path, 
          That bites the horse’s heels   
          So that its rider shall fall backward.
    18  I have waited for your salvation, O LORD!
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  • The Bible clearly implies that the Anti-Christ is from the tribe of Dan. In Revelation 7, when 144,000 Jews were chosen to preach the Gospel during the endtimes, the tribe of Dan was left out! (Note: the biological descendents of the 12 tribes of Israel were chosen and not Ashkenazi non semitic Khazars converts to Judaism!)
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  • ‘That bites the horse’s heels’, compare this verse to Genesis 3:15, “you (serpent) shall bruise His heel”. Viper, serpent both mean snake ie. Satanic!
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  • The world is ruled by a Satanic cabal. These 13 Satanic bloodlines trace their ancestry all the way to the fallen angels of Genesis 6. They are the seed of the serpent if you can accept it.
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    Satanic Debt Racket Exposed in Banker’s Novel
    by Henry Makow,
    http://www.henrymakow.com/
    It all becomes very clear. These families have been milking us for centuries. We are quite literally their “cattle” i.e. goyim.
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    “Bank Crisis Set to Trigger New Credit Crunch” says the latest newspaper headline.  
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    Belgium author Pascal Roussel, 45, is well placed to explain the financial turmoil convulsing the world. By day, he works in the Financial Risk Dept. of the European Investment Bank in Luxemburg. No, he is not an Illuminati banker but a mere functionary. But he does not take his position lightly. For the last ten years, he has been studying the Illuminati conspiracy and has made contact with insiders. The result is a novel, “Divina Insidia – The Divine Trap,”  which explains the Illuminati conspiracy to the incredulous, and contains new insights and nuggets of information for old hands.
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    Most important, Roussel presents the conspiracy in a simple and plausible way, throwing our collective predicament into frightening relief.
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    “OLIGARCHIC FAMILIES” 
    According to Roussel, twelve “oligarchic families” have grown indescribably wealthy by lending “money” to governments at interest. These are the central bankers.  Most but not all are Illuminati Jews. Their wealth is in the trillions. Bill Gates and Warren Buffett are paupers in comparison. It all becomes very clear. These families have been milking us for centuries. We are quite literally their “cattle” i.e. goyim. 
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    The whole of modern history can be explained by their farm management practices. Wars are started to increase the debt and cull the herd. The goal is to cull the herd to 500 million and chip the remnant. These families and their henchmen own 80% of the world’s wealth and do nothing useful yet believe the impoverished majority are parasites.  
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    Roussel, .. explains how compound interest resulted in astronomical exponential gains year-after-year. All religions have banned lending at interest to prevent what actually has occurred: this immense wealth and power has fallen into the hands of Satanists.
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    The world’s major banks are mere proxies for these twelve families who create the money out of nothing. (The banks get their “money” from them.) Greece is the target now but eventually the whole world will be squeezed like an lemon to get this “money” back. (“We will absorb all the wealth of the world,” is how Cecil Rhodes described it to his patron Nathan Rothschild.) 
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    They threaten depositors will lose their savings if banks fail. But, it is really these twelve families of generational Satanists who want their pound of flesh.
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    If our governments weren’t run by their lackeys, they would protect the deposits and let the “oligarchic families” twist in the wind. Roussel doesn’t name the families but obviously one is the Rothschilds. 
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    Roussel explains that fractional reserve banking is a ponzi scheme. They lend $90 for every $100 on deposit. Those $90 are deposited somewhere else and $81 more dollars are lent. So it continues ad infinitum. Obviously, the way to fight this beast is to withdraw your cash from the bank.
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    THE NOVEL
    Roussel’s narrative revolves around a Rothschild who has a spiritual revelation and wants to issue a warning. He selects an attractive young Swiss journalist,  Ann Standford, to write a book and deposits a fortune into her bank account.
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    He then takes her on a Cook’s Tour of Illuminati landmarks — the Georgia Guidestones, a Bilderberg meeting, Bohemian Grove etc. — explaining some aspect of the conspiracy in each place. He describes its origins in paganism and the Kabbalah, which led to the Illuminist philosophy. But ultimately, it boils down to debt and interest.
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    “You want to defeat us?” Roussel’s Rothschild says.”Abolish loans with interest and don’t create any more money. Economic cycles will disappear. Wealth will no longer be concentrated in the hands of a few “mega creditors” like me and money will gain value in time.  What you bequeath to your children will have more value than when you first got it.”     
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    Meanwhile another Illuminati “superior” has put assassins on their trail. Roussel’s storytelling is workman-like and his wholesome European Christian sensibility is uplifting.
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    The ending is quite unexpected and inspired. The book is worth reading for it alone. Roussel leaves us with a credible vision of defiance and hope. All we need do is affirm the Truth and resist evil. The whole rotten structure will collapse.
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  • See also:
    -
    The History of the Illuminati ! The 13 Satanic Bloodlines!
    The Prophecy Club: The Top 13 Illuminati Bloodlines And Mind Control !
    Myron Fagan’s 1960s Lecture Exposing The Illuminati, CFR And The Satanic One World Government Plan!
    Bill Schnoebelen: Exposing the Illuminati from Within
    Svali: The Illuminati Defector Who Turned To Christ !
    John Todd (1970s): Ex Council of 13 Illuminati Member Reveals How the Illuminists Work. Trilateral Commission, Council on Foreign Relations, Illuminati Corporations, World Government, Attack On Christian Church, Rock Music….
    David Icke: Satanic Bloodline Families…Insane Inbreds!
    Swiss Banker Unmasks Bilderberg Criminals!
    Stanley Monteith: Secrets of the Illuminati Revealed ! The Hidden Luciferian History of The New World Order!
    Dark Secrets: Inside The Bohemian Grove! Satanism And The Ruling Elite!

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

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October 5, 2011 Posted by | EndTimes, History | , , , | 1 Comment

Jim Rogers on US-China Trade War!

October 5, 2011 Posted by | Economics | , | Comments Off

Mainstream Media Ignores Occupy Wall Street !

  • Quotes:
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    “We are grateful to The Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the work is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national autodetermination practiced in past centuries.”
    David Rockefeller, founder of the Trilateral Commission, in an address to a meeting of The Trilateral Commission, in June, 1991.
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    “In March, 1915, the J.P. Morgan interests, the steel, shipbuilding, and powder interest, and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press….They found it was only necessary to purchase the control of 25 of the greatest papers.
    -
    “An agreement was reached; the policy of the papers was bought, to be paid for by the month; an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers.”
    U.S. Congressman Oscar Callaway, 1917

Western MSM !

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October 5, 2011 Posted by | Social Trends | , , , , | Comments Off

Grip on Greece Tightens as €8 Billion Bailout Held Back!

October 5, 2011 Posted by | Economics | , , , , , , , , , | Comments Off

Pig-Headed EU Denial Hastens Demise of Dying Eurozone!

October 5, 2011 Posted by | Economics | , , , , , , , , , | Comments Off

Keiser Report: Deutschmark & Drachma Revival?

October 5, 2011 Posted by | Economics | , , , , , , , , , , | Comments Off

   

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