Socio-Economics History Blog

Socio-Economics & History Commentary

US Financial Showdown with Russia is More Dangerous Than It Looks, for Both Sides!

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10771069/US-financial-showdown-with-Russia-is-more-dangerous-than-it-looks-for-both-sides.html

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  • US financial showdown with Russia is more dangerous than it looks, for both sides! 
    by Ambrose Evans-Pritchard, http://www.telegraph.co.uk/
    The US Treasury faces a more formidable prey with Russia, the world’s biggest producer of energy with a $2 trillion economy, superb scientists and a first-strike nuclear arsenal
    -
    The United States has constructed a financial neutron bomb. For the past 12 years an elite cell at the US Treasury has been sharpening the tools of economic warfare, designing ways to bring almost any country to its knees without firing a shot.
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    T
    he strategy relies on hegemonic control over the global banking system, buttressed by a network of allies and the reluctant acquiescence of neutral states. Let us call this the Manhattan Project of the early 21st century.
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    “It is a new kind of war, like a creeping financial insurgency, intended to constrict our enemies’ financial lifeblood, unprecedented in its reach and effectiveness,” says Juan Zarate, the Treasury and White House official who helped spearhead policy after 9/11.
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    “The new geo-economic game may be more efficient and subtle than past geopolitical competitions, but it is no less ruthless and destructive,” he writes in his book Treasury’s War: the Unleashing of a New Era of Financial Warfare.
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    Bear this in mind as Washington tightens the noose on Vladimir Putin’s Russia, slowly shutting off market access for Russian banks, companies and state bodies with $714bn of dollar debt (Sberbank data).
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    read more!

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April 21, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

US Dollar Dying as Tensions Over Ukraine Heat Up!

US-dollar-crumpled-dying

  • US dollar dying as tensions over Ukraine heat up: Analyst! 
    by http://www.presstv.com/
    The US dollar is losing its dominance on global trade amid spiraling tensions between Washington and Moscow over Ukraine, says an analyst.
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    In his Friday column for Press TV website, F. William Engdahl said Russia and leading trading countries are developing “alternatives to using the US dollar for their bilateral trade.”
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    The analyst said the US government has been printing “money without limit, in order to rescue the bankrupt Wall Street banks with what the Federal Reserve calls Quantitative Easing.”
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    “Washington’s decision to go for the military coup in Ukraine [has]…isolated the power of US hegemony and opened the door for a genuine multipolar world where peaceful cooperation replaced military threats and sole superpower domination,” Engdahl stated.
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    He said Washington’s “foolish” imposition of sanctions on Russia over Crimea’s secession from Ukraine “has forced Moscow to react by selling Gazprom bonds not in the dollar market but rather in the fast-emerging Chinese Yuan.”
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    “The US has just shot itself in the foot,” he wrote. Citing a new report by the International Monetary Fund, Engdahl said there has been a “dramatic shift” from the “US dollar as reserve currency.”
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    “The foolish [US President Barack] Obama sanctions threats against Moscow are simply accelerating the refocus of giant Russian companies like Gazprom and Norilsk Nickel to the huge Asian market,” wrote the analyst.
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    He said following the “NATO-led Ukraine coup and ensuing crisis,” other countries “are looking to lessen their dollar exposure.” The analyst said “stupid people” in the United States and NATO have failed to “think through or foresee the global consequences of their actions.”

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April 21, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

GEAB N°84: Europe Dragged into a Division of the World Between Debtors and Creditors – The United States’ Desperate Solutions for Not Sinking Alone!

Percentage_of_Population_Unable_to_afford_food_in_Europe

  • GEAB N°84 is available! Europe dragged into a division of the world between debtors and creditors: the United States’ desperate solutions for not sinking alone! 
    by http://www.leap2020.eu/ 
    In the present confrontation between Russia and the West over the Ukrainian crisis, the image of the Cold War inevitably comes to mind and the media are obviously fond of it. However, contrary to what it gives us to understand, it’s not Russia that seeks the return of an iron curtain but really the US. An iron curtain separating the old powers and emerging nations; the world before and the world afterwards; debtors and creditors. And this in the crazy hope of preserving the American way of life and the US’ influence over “its” camp in the absence of being able to impose it on the whole world. In other words, go down with as many companions as possible to give the impression of not sinking.
    -

    For the US, these are the current stakes in fact: drag along the whole Western camp with them to be able to continue dominating and trading with enough countries. So, we are witnessing a formidable operation of turning round opinion and leaders in Europe to ensure docile and understanding rulers vis-à-vis the American boss, supported by a blitzkrieg to link them permanently with the TTIP and to cut them off from what could be their lifeline, namely the BRICS, their huge markets, their vibrant future, their link with developing countries, etc. We are analyzing all these aspects in this GEAB issue, as well as the subtle use of the fear of deflation to convince Europeans to adopt US methods.
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    In the light of the extreme danger of these methods used by the US, it goes without saying that leaving the US ship wouldn’t be an act of betrayal by Europe, but really a major step forward for the world as we have already extensively analyzed in previous GEAB issues (1).
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    Unfortunately, the most reasonable European leaders are completely paralyzed and the best strategy that they are still capable of currently putting into effect, in the best case scenario, seems to be simply to delay (2), certainly useful and welcome but hardly sufficient…
    -
    Layout of the full article:
    1. LOWER THE MASKS
    2. QUICK A TTIP
    3. AN ECONOMIC ABERRATION
    4. INSTIL THE FEAR OF DEFLATION IN EUROPE, THE SECOND US WEAPON
    5. DEBTORS VERSUS CREDITORS, THE WORLD CUT IN TWO
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    This public announcement contains excerpt from sections 1 and 2.

    -
    LOWER THE MASKS
    With the internet and “leak” type issues, keeping a secret has become difficult for secret agents and countries with dirty hands. Besides Snowden’s or WikiLeaks disclosures, we have further learned recently that the US was behind a social network in Cuba targeting the destabilization of the government in power (3).
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    We have been able to watch this video opportunely leaked on YouTube (4) showing the Americans at work behind the coup d’état in the Ukraine. Or again, it would seem that they are not innocent in Erdoğan’s current destabilization in Turkey (5), a country whose situation we will go into in more detail in the next GEAB issue (6)…
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    The masks are falling… certainly on the evidence, but that nobody can ignore.
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    But the United States is no longer satisfied with developing countries or banana republics… In Europe, they are also managing to turn round the leaders one after the other, so that they obediently follow American interests. It’s no longer “what’s good for General Motors is good for America” as Charles Wilson (former GM CEO) said in 1953, but “what’s good for the US is good for Europe”. It already has Cameron, Rajoy, Barroso and Ashton’s support… It has succeeded in getting Donald Tusk’s Poland’s whilst he was strongly resistant at the beginning of his term of office (7), Italy’s thanks to Renzi’s opportunist coup d’état (8), and France’s Hollande/Valls thanks in particular to a ministerial reshuffle and a Prime Minister little suspected of anti-Americanism. Unlike the beginning of his term of office when he played the independence card on Mali or on other fronts, François Hollande seems to be completely submissive to the United States. What pressure has been put on him? As for Germany, it’s still resisting somewhat but for how long (9)? We will expand on these remarks in the Telescope.
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    Europe is thus dragged towards US interests that aren’t its own, neither in terms of politics, geopolitics, or trade as we will see. Whilst the BRICS have chosen an opposite path and are seeking to withdraw from the henceforth profoundly negative influence of the US at any price, Europe is now being taken for a ride. Evidenced, for example, by Belgium’s purchase of $130 billion worth of US Treasuries in three months from October 2013 to January 2040 (latest figures available (10)), being at an annual rate greater than its GDP (11)… It’s certainly not Belgium itself which is responsible for this aberration, but Brussels of course, that’s to say the EU as a little US soldier.
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    read more!
http://www.thenewamerican.com/economy/item/17201-us-eu-trade-pact-accelerates-economic-and-political-integration

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April 21, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , | Leave a comment

Alasdair Macleod: Paper Currencies Face Ultimate Collapse- Loss of Confidence in the Dollar Could Propel Silver to $75!

  • Alasdair Macleod: Paper Currencies Face Ultimate Collapse- Loss of Confidence in the Dollar Could Propel Silver to $75!! 
    by http://www.silverdoctors.com/ 
    London expert Alasdair Macleod returns to the SD Weekly Metals & Markets with his brilliant PM analysis, including:
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    Chinese 2013 gold demand 7,603 tons- More than DOUBLE Global Supply & mainstream estimates!
    * Macleod states that China’s total gold reserves (public & private) may be between 10 and 25,000 tons of gold!
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    Vaulting companies have never seen a 1 kilo (9999) gold bar- not one ounce is leaving China!
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    Gold being delivered from Western vaults has turned dirty- (barely .9 gold):  Bullion Banks Now Scraping the Bottom of the Vaults to Source Asian Gold Demand! 
    * Swiss Refiners are working 24/7, with up to 20 tons a day being sourced to China via Switzerland alone!
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    We discuss plunging GOFO rates: Macleod explains that the London Market has been Effectively Cleaned Out of Gold Below $1300, & that No One is Willing to Arbitrage the Negative GOFO Because There is No Bullion Available!
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    Alasdair provides his short & long term outlook for gold & silver, & states that Paper Currencies Face Ultimate Collapse, and that the Coming Loss of Confidence in the Dollar Could Propel Silver to $75!

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April 21, 2014 Posted by | Economics | , , , , , , , , , , , , , , , , | Leave a comment

Ex-White House Official Warns Ukraine Chaos To Engulf World !

http://www.dailymail.co.uk/news/article-2605578/Edward-Lucas-I-hope-Im-wrong-historians-look-say-start-World-War-III.html

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  • Ex-White House Official Warns Ukraine Chaos To Engulf World! 
    by http://www.kingworldnews.com
    Today King World News interviewed the former White House official who was Special Assistant to the President of the United States for Economic Policy and a former member of the U.S. President’s Working Group on Financial Markets, also known as the Plunge Protection Team, or PPT.  While in the White House, Dr. Philippa “Pippa” Malmgren served as financial market advisor in the White House and functioned as the direct liaison between the White House and the Federal Reserve.
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    Dr. Malmgren formerly headed the Global Asset Management business for Bankers Trust in Asia, out of Hong Kong, and was also Chief Currency Strategist for Bankers Trust Company, and former Head of Global Investment Strategy at UBS.  Dr. Malmgren was also a senior consultant to Deutsche Bank, and currently advises the largest sovereign wealth funds, hedge funds, and pension funds in the world.
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    Eric King:  “The belief that is out there is that they (the Chinese) are positioning themselves to have the yuan replace the dollar, or create at least an alternative to the U.S. dollar supremacy as the world’s reserve currency.”
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    Dr. Malmgren:
    “After events in Ukraine, the Russians also feel very strongly (about unseating the dollar).  I think what we are going to find is that both China and Russia have entirely ceased to be buyers of U.S. Treasuries….
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    read more!

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April 21, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

US/Russia De-Escalation Agreement Is A Distraction, The War Agenda Moves Forward !

  • Published on Apr 17, 2014
    Get economic collapse news throughout the day visit http://x22report.com

    More news visit http://thepeoplesnewz.com
    Report date: 4.17.2014
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    The public debt of Spain is getting worse and threatens to exceed 100% GDP. Housing continues to implode and more mortgage departments are laying off. President Obama is creating an executive order to support solar panel development which leads back to the BLM/Bundy Ranch crisis. North Korea is moving missiles to its coast. US and Russia have agreed on a de-escalation in Ukraine. This agreement is already being broken because anti-terrorism operation are continuing in Ukraine. Research facility loses SAR Virus and have no idea where it is. Be prepared for a false flag event.

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April 21, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

US Dollars to be Swept Out of Russia!

April 21, 2014 Posted by | Economics | , , , , , , | Leave a comment

Jim Willie: FedRes Has Lost Control, Systemic Failure Flashing Warning Signals Now!

MoneySupplyVelocity_at_50yr_lows_evidence_of_Systemic_failure

  • “The West will continue its rapacious confiscation of wealth and its vicious devotion to war until the platform they stand on built of USD ceramic tiles and USTBond cables and SWIFT pylons collapses..” - Quote
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  • Jim Willie: Fed Has Lost Control, Systemic Failure Flashing Warning Signals Now! 
    by http://www.silverdoctors.com/ 
    Summary
    The US Federal Reserve has been printing money since 2011 to cover USGovt debt securities in a frenetic manner. They have lost control. They call it stimulus, when it is actually the opposite. It does assist the speculators with nearly zero cost money to borrow, but one must be a club member to win loan grants. The Quantitative Easing programs are deceptive. When the program was initially announced, the Jackass claimed it would be part of an endless sequence. With QE1 and QE2 and Operation Twist and QE3, following the failed trial balloon called Taper Talk, it is quite clear to anyone with an active brain stem and absent rose colored glasses that the USFed is caught in a trap called QE to Infinity. It is not stimulative. Instead, the uncontrollable bond monetization causes capital destruction. It causes economic degradation. It causes lost jobs and vanished income. It is a gigantic wet blanket to smother and destroy the USEconomy slowly, amidst unending propaganda. QE is the device that will result in Systemic Failure, which is already flashing signals of its arrival.
    ========================================
    by Dr. Jim Willie, http://www.goldenjackass.com/ 
    MONEY VELOCITY FALLING RAPIDLY
    Money Velocity continues to fall rapidly in both the USEconomy and that of Canada, reaching 50-year lows in the Untied States. The indication is failure in monetary policy, as hyper inflation has killed capital on an extensive basis. The capital destruction is in its fourth year, probably having reached critical mass. Compared and contrasted with fast rising money supply, the systemic failure is obvious to conclude. The exception is to morons, Wall Street junkies, Big Bank criminal elite, and USGovt hacks. The fast decline in Money Velocity means that it is not moving in the body economic. The reason is simple. The blood system is contaminated with the USDollar, a toxic currency with no backing in a hard asset. The new money is toxic currency under phenomenal debasement by its own steward, the USFed itself. They redouble their harmful policy instead of abandoning it.

    -
    The Money Velocity picture is not pretty. The declining rate has broken lows set 50 years ago. Technically, the velocity of money is the frequency at which one unit of currency is used to purchase domestically produced goods and services within a given time period, like an inventory cycle time. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy. The result would be that growth (as measured in GDP) should be rising. With falling velocity of money, then fewer transactions are occurring and a recession is indicated. Such is the present case in astonishing rapid deterioration. Consumers and business are holding firm their money rather than investing it, as they see poor prospects. New capital formation is not occurring inside the USEconomy, or pitifully little. Debts are being dissolved, usually in default. It should be noted that the velocity of money has also been falling in the EU and Japan. The entire global economy is in recession, the pathogenesis shared.
    ….
    GOLD STANDARD PROTECTION, SOLUTION, FUTURE
    The protection is with Gold & Silver bars & coins. The solution is not more bond purchases, broader monetization programs, more liberalized bank reserve rules, or suspended accounting rules. The solution is liquidation of the big dead zombie banks, and a return to the Gold Standard. It will be put in place. It will be installed. It will arrive with a vast new structure of legitimacy. It will include barter systems and decentralized mechanisms. It will include new Letters of Credit based in Gold Trade Notes. But the East led by Russia, China, and followed by India, Japan, and South Korea will be the promoters, installers, and architects of the new strong stable equitable Gold Standard system that the Untied States dreads and fears. The West will continue its rapacious confiscation of wealth and its vicious devotion to war until the platform they stand on built of USD ceramic tiles and USTBond cables and SWIFT pylons collapses. The return of the Gold Standard will relieve the global economy of the burden and wreckage of central bank ruinous and criminal actions. The damage will be extensive. The survivors will be owners of Gold & Silver. The rest will become debt slaves in a nasty fascist state.

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    read more!

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April 17, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Dave Kranzler Reports on the Latest Manipulation of the Gold Price!

PetroDollar is dying!

PetroDollar is dying!

  • Dave Kranzler reports on the latest manipulation of the gold price! 
    by http://www.paulcraigroberts.org/ 
    Shortly after the Shanghai gold market closed last night, the market manipulators went to work on the gold price. Gold was taken down another $20 during the morning trading in London, primarily in three HFT trading induced “mini flash crashes.” There were not any related news reports or events that would have triggered the relentless selling of paper gold (Comex futures via the Globex system and LBMA forward contracts).
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    A
    s soon as the Comex floor trading opened at 8:20 a.m. EST, nearly 4,000 contracts were dropped instantaneously onto the floor and into the Globex system. This is over a half a billion dollars worth of gold – over 10 tonnes of paper gold – in a nano-second. This amount represents 47% of the amount of actual physical gold that was reported to be available for delivery by the Comex yesterday. The sudden burst in volume halted the Comex computer system for 10 seconds. The contract bomb caused an immediate $16 plunge in the price of gold. Over a period of 7 minutes from the time the Comex opened, over 14,000 contracts traded. This represented over 18% of the total volume in Comex contracts that had traded in the previous 14 hours of trading starting at 6 p.m. EST the night before.
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    Obviously this is was intentional and determined selling of paper gold for the purposes of driving the price a lot lower. The news reported over the last 24 hours, if anything, should have caused the price of gold to move higher. This includes the re-escalation of the events in Ukraine, an inflation report released this morning which showed that the rate of inflation in March was double the rate that was expected by Wall Street forecasters and a report of manufacturing activity in the northeast which was significantly lower than expected.
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    It is no coincidence that today is the anniversary date of last year’s $200 price plunge in gold. In fact, about a week prior to last year’s intervention operation, a series of bearish articles and Wall Street analyst reports started hitting the newswires, similar to the flurry of news reports that were released last night. It is painfully obvious to anyone paying attention that there is a serious effort being conducted by the Fed, the U.S. Government and the big banks to hold down the price of gold.
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    The reason for this is that the U.S. Government is growing more desperate by the day to prop up the stock market and the U.S. dollar. Russia and China have been announcing a series of deals between each other and with several other large trading partners to begin conducting oil and gas trade using their respective currencies, thereby completely bypassing the use of the U.S. dollar. It is clear that far and middle eastern countries are working to systematically scale down and phase out the world’s reliance on the U.S. dollar and the catastrophic political and economic policies it represents.
http://voiceofrussia.com/2014_04_04/Russia-prepares-to-attack-the-petrodollar-2335/

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http://voiceofrussia.com/news/2014_03_28/Russia-s-secret-weapon-crashing-US-economy-by-collapsing-petrodollar-5071/

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April 17, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Peter Schiff: The Coming Economic Collapse by 2014 – 2015!

David_Rockefeller_On_The_Verge_of_New_World_Order

Larry_McDonald_Rockefeller_One_World_Government

David_Rockefeller_I_stand_guilty

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April 17, 2014 Posted by | Economics, Social Trends, GeoPolitics | , , , , , , , , , , , , , , , , , , | Leave a comment

Ukrainian Crisis Triggered by US Deep State in Preparation for Revamp of International Monetary System?!

Global currency, economic and financial storm coming!

Global currency, economic and financial chaos/storm coming!

  • “Our analysis is that the Ukrainian crisis was triggered by the U.S. deep state in preparation for the introduction of the next reorganization of the international monetary and financial system.  This is to retain the EU in the area of U.S. domination.” - Quote
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  • Ukrainian Crisis Triggered by US Deep State in Preparation for Revamp of International Monetary System! 
    by Bruno Paul, http://www.silverdoctors.com/
    We first established in January 2013 the need to resolve the problem of the international monetary system, and its absolute priority. We then proposed in May 2013 a strategy to effectively prepare the necessary resilience to support the change in the international monetary system. The various official announcements over the past months have largely confirmed that this anticipation was shared.
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    The synthesis of this strategy was again stressed by Laurence Brahm on 21/10/2013:
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    “ It is not the complete removal of the old Bretton Woods financial architecture but rather the creation of a new parallel structure to the old. Eventually, countries will be able to choose which architecture is better suited to their own plans for reconstruction and renovation. ” [4]
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    This week of April 2014 where I release this article sees an important step in international relations. It is nothing less than discussing the 2015 framework and choosing between the repetition of the Vienna Conference in 1815 (the Concert of Nations) or Yalta Conference in 1945 (the Cold War) that will support the “new rules of the game in international politics“. [5]
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    In fact, this week in Europe a large number of high level bilateral meetings take place:
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    *  President Xi with the Prime Minister of the Netherlands, François Hollande, Angela Merkel then with the European Commission president [6]
    *  President Obama with President Xi, and then he has extended his trip at the last minute to meet the Heads of State of the Netherlands, Italy, Belgium, UAE, South Korea, Japan, then a meeting with the Pope in Rome and a meeting with the King of Saudi Arabia. [7] Not to mention a planned meeting with Mr Barroso and Van Rompuy [8]
    *  The G7 meeting on the sidelines of the Nuclear Security Summit in 2014
    *  And other bilateral meetings, more or less official and prepared, among other heads of state following their presence at the Nuclear Security Summit 2014. Officially the goal is mostly to talk about the crisis in Ukraine and Crimea, or to sign some contracts. The public communiques will mention them.
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    We believe that other issues, much more important but related, will be discussed: those around the current reorganization of the new international monetary and financial system.
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    Our analysis is that the Ukrainian crisis was triggered by the U.S. deep state in preparation for the introduction of this next reorganization. [9] This is to retain the EU in the area of U.S. domination. [9.1]
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    The time has come to clarify what we mean by new international monetary and financial system. We believe this is not only about launching what is already announced:
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    *  A Development Bank for BRICS parallel to the World Bank
    *  A BRICS stabilization fund parallel to the IMF
    *  New bilateral trade agreements parallel to the WTO but to go much further.
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    Firstly, BRICS Development Bank is becoming a “Bank initiated by BRICS for the development of all interested parties” and whose governance is open to any state wishing to join with the framework agreement. [9.2]
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    Secondly, and this is the most innovative part: it is to create another parallel institution to the Bank for International Settlements (BIS). This is the oldest international financial institution fully governed by the West (6 permanent members and founders are the central banks of Belgium, France, Germany, Italy, UK and USA, which can have a double voting weight – analogy with Obama’s meetings this week is not a coincidence [10])
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    BIS is the central bank of central banks, that is to say, it organizes and manage trade between them … especially those concerning physical gold. Activities related to financial regulation (the famous Basel Committee rules) were added much later, after the existence of the bank became public when it was kept secret since its inception. [10.7]
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    The first problem to solve for the overhaul of the international monetary and financial system is not really the choice of a new currency. This is only a means. This is primarily to ensure price stability and the development of international trade. Otherwise, the only alternative is endless war for resources that are increasingly scarce. It is therefore necessary to separate the problem of a reference currency for international trade, from that of a reserve currency for central banks.
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    Global geopolitical dislocation following the 2008 crisis has cut the Gordian knot: there is no need any more to make a decision for all countries (which has blocked reform for many years [10.6]). Now BRICS countries have the initiative and willingness to move forward. This will is the key factor as we wrote: [10.9]
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    read more!

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April 16, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Paul Craig Roberts Warns U.S. Now Close To Total Collapse!

US_Economic_Collapse

  • Once Russia and China decides to abandon the SWIFT system, other countries which do business with them will have to implement the new system ie. the alternative to SWIFT. This implies that the western Illuminati’s global currency, financial and economic hegemony is over! The dollar will collapse!
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  • Paul Craig Roberts Warns U.S. Now Close To Total Collapse! 
    by http://www.kingworldnews.com
    Today former US Treasury official, Dr. Paul Craig Roberts, warned King World News that the United States is now close to total collapse.  Dr. Roberts also accused Goldman Sachs and the Fed of being totally corrupt as they desperately maneuver to try to prevent the collapse of the SWIFT payment system, and he also blasted Goldman Sachs for reiterating its call for $1,050 gold.  Below is what Dr. Roberts had to say in this powerful interview.
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    Eric King:
      “Dr. Roberts, we’ve seen Goldman Sachs reiterate their call for $1,050 gold, which has facilitated the smash on gold today.  This comes on the anniversary of last year’s $200 two-day smash in gold.  But Goldman is claiming gold will decline because the U.S. economy will accelerate in the second half of this year.”

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    Dr. Roberts:  “The American economy is not going to boom because real consumer incomes have been falling, not rising.  If there is no income growth then there is no credit growth either.  So the U.S. economy is definitely not going to accelerate….

    The West may not be in a position to prevent an explosion in the gold price if Russia and other countries drop out of the SWIFT system.  The Russian energy transactions are a trillion dollars or more (each year).  Well, that’s equal to the amount of QE that was injected into the system annually.  So the elimination of that demand for dollars in international transactions would offset a year of QE.
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    read more!

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April 16, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | Leave a comment

John Rubino: Is The Demise Of The PetroDollar Coming?!

  • Published on Apr 13, 2014
    John Rubino sees big risks for the Dollar ahead. As it tries to punish Russia for the latter’s dismemberment of Ukraine, the West is discovering that the balance of power isn’t what it used to be. Russia is a huge supplier of oil and gas — traded in US dollars — which gives it both leverage over near-term energy flows and, far more ominous for the US, the ability to threaten the dollar’s reign as the world’s reserve currency. And it’s taking some big, active steps towards that goal.

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April 16, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | 3 Comments

Russia Declares War on U.S. Dollar!

PetroDollar_Scam_Breaking_Down

  • Russia Declares War on U.S. Dollar! 
    by Jerry Robinson, http://ftmdaily.com/ 
    As the West continues to unleash its anger against Russia’s recent military moves, Vladimir Putin has intensified his diplomatic efforts with a rising China. After a decade of talks, Mr. Putin is expected to announce a broad plan to export vast amounts of natural gas to China during an official state visit to China next month. If Mr. Putin can seal the deal it will be another major victory for the BRICS nations and will provide yet another nail into the coffin of the failing U.S. dollar.
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    Of course, both sides are facing intense pressure from the West to abandon the deal. China, however, seems intent on pushing closer to Russia. Russia, in particular, is under the threat of more Western sanctions for its recent role in Ukraine. So too, Western sanctions are targeting Russia’s state-run energy company, Gazprom. Gazprom’s response to these sanctions shows just how close we are to the end of the petrodollar system
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    From the Financial Times, a story entitled: Gazprom Looks to Drop the Dollar to Avoid Sanctions’ Bite:
    The oil arm of Russia’s state-owned Gazprom is preparing customers to settle contracts in euros rather than dollars as it braces for the possible escalation of US sanctions against Moscow.
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    Alexander Dyukov, chief executive of Gazprom Neft, told reporters in St Petersburg that the company had discussed shifting contracts to euros with its customers. “Practically all – 95 per cent of our customers – confirmed their willingness to move to settlement in euros,” he said.
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    Through Gazprom, Russia is openly declaring war on the U.S. dollar and its long-standing role as the settlement currency in global oil transactions. Ukraine is yet another proxy war for the U.S. and Russia. Now, however, the long knives are coming out.
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    The Financial Times report continues:
    One senior banker said that many commodity groups, including Gazprom Neft, had held talks with bankers about financing in euros rather than dollars. “Every commodity sector business is talking about what is possible if you couldn’t do deals in dollars – if you couldn’t get dollar clearing through New York,” he said.
    Such a switch could result in higher costs for companies because of the need to convert currencies and the lower liquidity for those other than the US dollar.
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    read more!

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April 16, 2014 Posted by | Economics, EndTimes | , , , , , , , , , , , , , , , , , , | Leave a comment

Dumping the Dollar: Russian Oil Firm Gazprom Neft Says Asian Buyers Willing to Use Euros!

Dollar-collapsing-like-titanic

  • Dumping the Dollar: Russian oil firm Gazprom Neft says Asian buyers willing to use euros
    by Vladimir Soldatkin and Florence Tan, via http://stratrisks.com/, 10 April 2014
    (Reuters) Russian state-controlled oil producer Gazprom Neft said it had received positive responses from Asian clients about the possibility of using euros as a settlement currency instead of the dollar.
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    Company head Alexander Dyukov said this week Gazprom Neft had broached the idea of dropping the dollar, traditionally the currency of choice for the global energy sector, in response to a possible new round of Western sanctions over Russia’s annexation of Crimea.
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    He said the company had discussed with buyers the possibility of switching contracts to euros and that 95 percent had said they were ready to do it. Gazprom Neft ships around 30,000 barrels per day of oil eastward.
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    “Gazprom Neft has held discussions with its eastern partners about the possibility of completing settlements in the European currency. They, in turn, expressed their potential readiness for this,” the oil arm of top Russian top natural gas producer Gazprom said in emailed comments on Thursday.
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    Three buyers in Japan and China said they had been approached by Gazprom to settle oil payments in currencies other than the dollar. Two of the buyers said they were still considering the proposal, while the third said his company had bought crude using euros before and did not see it as a problem.
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    “Switching to euros is not a big deal. The problem is who will bear the exchange cost,” a trader with a Japanese buyer of Russian Asia-bound ESPO crude oil blend said.
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    read more!

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April 15, 2014 Posted by | Economics | , , , , , , , , , | Leave a comment

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