Socio-Economics History Blog

Socio-Economics & History Commentary

Russia Contagion Spreads To European Banks: French SocGen, Austrian Raiffeisen Plummet!

Global economic, financial and monetary collapse super storm is coming!

Global economic, financial and monetary collapse super storm is coming!

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December 17, 2014 Posted by | Economics | , , , , , , , , , , | Leave a comment

Keiser Report: Oil Can Combust & Blow It All !

  • Published on Dec 16, 2014
    In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the blood-bathing in the oil related markets – from the Dubai stock exchange to the West Australian fracking company gone bust to some of the highest paid jobs in America being laid off. In the second half Max interviews former banker turned independent media star, Brian Rose of London Real TV and Silicon Real. They discuss whether or not London can ever be a new Silicon Valley.

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December 17, 2014 Posted by | Economics | , , , , , , , , , , , | Leave a comment

FX: “The USDRUB Pair Will Be Discontinued Due To Recent Instability Of The Russian Ruble”!

USDRUB-Trading_Halt-15Dec2014

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December 17, 2014 Posted by | Economics | , , , , , , | Leave a comment

Russian Ruble Collapse, Higher Interest Rates Not Helping!

  • Published on Dec 16, 2014
    The Russian ruble continues to plummet, despite the central bank’s latest move to defend the currency. Overnight, interest rates here hiked to 17%. At first that brought some relief – but then the ruble quickly lost those early gains. READ MORE:
    http://on.rt.com/9up9sv

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December 17, 2014 Posted by | Economics | , , , , , , | Leave a comment

Turmoil Spreads: Ruble Replunges, Crude Craters, Yen Surges, Emerging Markets Tumbling!

  • Turmoil Spreads: Ruble Replunges, Crude Craters, Yen Surges, Emerging Markets Tumbling! 
    by Tyler Durden, http://www.zerohedge.com
    For those wondering if the CBR’s intervention in the Russian FX market with its shocking emergency rate hike to 17% overnight calmed things, the answer is yes… for about two minutes. The USDRUB indeed tumbled nearly 10% to 59 and then promptly blew right back out, the Ruble crashing in panic selling and seemingly without any CBR market interventions, and at last check was freefalling through 72 74 76, and sending the Russian stock market plummeting by over 15%.
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    It is so bad, US equity futures which had jumped earlier on hopes of more Chinese intervention following the latest disastrous Chinese PMI print, as well as a French manufacturing PMI beat (don’t laugh), are back to unchanged.
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    The latest rout continues to be driven by the relentless plunge in Brent which also continued crashing overnight to fresh 5 year lows, sliding decidedly under $60 as WTI dropped well under $55 as well. And as we previewed over a month ago, it is not just Russia, but every single petroleum exporting country that is suddenly seeing a currency crisis, and spreading to all EMs with the Indian Rupee weakening the most since 2013, Indonesia lowering the Rupiah’s reference rate by the most on record, and so on. Ironically, this happens as the USDJPY is also crashing and dropping moments ago to 116.25, the lowest level since mid-November. At this rate the Fed will have no choice but to intervene, however in the opposite direction, and admit that despite all its best intentions, the US can not decouple from the rest of the world and a rate hike – so very priced in by everyone – is just no going to happen in the coming years (which sadly means that the latest subprime debt driven “recovery” is about to be called off).
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    A quick look at the oil market where Brent drops for 5th day, falls below $60 for 1st time since July 7, 2009 as the market continues to look for signs that falling prices is crimping production. WTI breaks below $55, drops to lowest since May 6, 2009.  “The race to the bottom continues, we are still not seeing any signs of supply disruption,” says Saxo Bank head of commodity strategy Ole Hansen. “There is very big negative momentum in the mkt and the fact people are starting to talk about breakeven levels of $35-$40 has put up a new red flag for mkts to aim at.… Jan. WTI options expire today and there is quite a lot of open interest ~$55 put strikes, that is probably the key level of potential support today.”
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    Not helping things was Russia’s announcement that it too like the Saudis will not cut production: Russia agrees with OPEC that market will determine crude price, Energy Minister Alexander Novak tells reporters at meeting of Gas Exporting Countries Forum in Doha, Qatar. Novak says that he met with OPEC energy ministers in Vienna; “The participants of that meeting concurred that the situation will be fixed by the market itself in terms of supple and demand balance.  Russia is not a country that changes its supply. We will maintain our production unchanged.”
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    read more!

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December 17, 2014 Posted by | Economics | , , , , , , , , , , , , , , , | Leave a comment

Oil Price: Opec ‘Will Let Oil Price Fall Below $40’!

PetroDollar_Scam_Breaking_Down

  • Why is the for profit oil cartel, OPEC, collapsing prices? Why are the Russians going along? Who is playing who? Lower oil prices mean lower demand for US dollars and lower demand for US debt/treasuries. How is the US going to finance its trillion dollar a year debt now that the FedRes has decided to “end QE”? All these moves in crashing oil price is not about economics. It is about geo-politics. It is about the global monetary, economic and financial hegemony! The petrodollar is about to die a violent death! A fatal heart attack is coming to Wall Street!
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  • Oil price: Opec ‘will let oil price fall below $40’! 
    by http://www.theweek.co.uk/ 
    Chancellor George Osborne says that overall falling oil prices are a ‘very good thing’.
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    As the price of Brent crude fell below $60 for the first time since 2009, the most powerful nations in Opec have made clear that they are willing to push prices as low as $40 a barrel in their bid to take on Russia and US shale, a high-profile Gulf oil minister said this week.
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    Suhail al-Mazrouei, energy minister of the United Arab Emirates, said that the organisation will let prices fall by more than $20 per barrel before they consider an emergency meeting to cut production.
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    “We are not going to change our minds because the prices went to $60, or to $40,” he said.
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    Brent crude, the global benchmark, fell by more than a dollar to $59.75 a barrel today, the BBC reports, while the price of US crude dropped to $54.85.

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    Tumbling prices have already had a profound impact around the globe, including in Britain where three times as many UK oil and gas firms have declared insolvency this year compared with 2013.
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    read more!

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

A Full-Blown Economic Crisis Has Erupted In Russia! Economic Chaos Will Soon Envelop the Whole World !

Global Super Storm meltdown??

Global Super Storm meltdown??

http://www.infowars.com/plummeting-oil-prices-could-destroy-the-banks-that-are-holding-trillions-in-commodity-derivatives/

Judo master Putin executing a deft move? Using the enemy’s oil attack thrust to floor the enemy! Click on image for article!

Judo master Putin! Never assume your enemy is stupid and doesn't know what he is doing!

Judo master Putin! Never assume your enemy is stupid and doesn’t know what he is doing!

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December 17, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | 1 Comment

Urgent: 3 New Signs Total Economic Collapse Is In Progress!

  • Published on Dec 12, 2014
    SGT REPORT ECONOMIC NEWS UPDATE: Documenting the Collapse for the week ending Friday, Dec 12, 2104.

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    - The System IS Collapsing, Here’s the Latest Dramatic Proof:
    - U.S Treasury seeks ‘Survival Kits’ for Federal Bank Examiners
    - CME Implements $400 wide gold circuit breakers for vast price swings
    - U.S. Taxpayers Now On The Hook For $303 TRILLION in Wall Street Derivatives
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    For REAL News & Information:
    http://sgtreport.com/
    http://thelibertymill.com/

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December 13, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | Leave a comment

The International Monetary System & Systemic Risk: When Will the Manure Hit the Ventilator?

  • Published on Dec 11, 2014
    Today on The Janssen Report (#89): there has been a lot of talk about the collapse of the global economy or monetary system, but when will it actually happen? Although nobody knows for sure, the signs of the accelerating unwinding of the system are there: dedollarization, humongous banking systemic risk (derivatives, debt) and preparations of bail-in scenarios across the G20 nations.

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    Many experts seem to agree that it cannot take more than a couple of years before the system crashes. But it could happen as early as 2015. Whether it will be a total collapse or a Big Reset, it will be not be beneficial for your wealth. Act! Buy some gold and silver. If you have little money to spare, consider buying a few silver 1-ounce coins.
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    Diversification of assets to other nations is a great option if you know where to go, what to do and how to do it. I will deal with that more in the near future.
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    Imagine the epic blow to financial institutions around the globe if their balance sheets start to vaporize. And then imagine what this will do to your personal financial situation.

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December 12, 2014 Posted by | Economics | , , , , , , , , , , , , , , , | Leave a comment

“V” Guerrilla Economist: 2014 Major Events And What to Expect in 2015!

  • Published on Dec 11, 2014
    12-09-2014, V: The Guerrilla Economist joins me to do a recap of 2014 and lays out some predictions as what to expect in 2015.

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    V website: http://www.roguemoney.net
Global financial storm approaching!

Global financial storm approaching!

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December 12, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

NIRP: (N)egative (I)nterest (R)ate (P)olicy!

Hyperinflation-Janet_Yellen_Breakfast

  • (N)egative (I)nterest (R)ate (P)olicy
    by Bill Holter, http://blog.milesfranklin.com/ 
    Negative interest rate policy (NIRP) has arrived to the U.S. for large deposits at commercial banks.  This is something we have already seen in Europe over the last few months and a sign (at least to me) that stress is again building.  As of January 1st, bank capital will be classified differently making some large and very mobile deposits at large banks a potential liability and thus not profitable.  This is being done because of the “mobility” of these deposits, the worry is the potential speed of flight capital if (when) it begins to run.
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    Let me explain what I mean by “stress” and you can decide which one fits the best if not a combination of “all of the above”.  First, the real economies of the Western world are again slowing and in many cases declining again.  Remember, this is happening even though fiscally, deficits are being run everywhere and monetarily, loose policy runs rampant.  As the real economy continues to slow, “more power” is being screamed from the helm to the engine room.  “More,” as in more debt, more liquidity and more of what created the problem in the first place.  This explanation is fairly obvious.
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    Two other and less obvious explanations for NIRP are “velocity” and “making preparations.”  Looking at velocity, it continues downward with no signs whatsoever of reversing.  Money is being printed by the trillions but it’s not making it onto the streets.  The money is piling up at banks who are hoarding the cash and making a “risk free” (really?) return by carrying the deposits at central banks.  This works well for the banks and the central banks themselves …but not so much for the real economy as actual “flowing” money feels tight and scarce.  As far as the real economy is concerned, credit policy is anything but loose.
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    The other aspect is that many large deposits (over the FDIC limits) are very “mobile”.  By this I mean they can move quickly.  So quickly in fact that back in 2008 there were “electronic” and overnight bank runs which no one saw …except the banks.  Banks “borrow low and lend high,” this is how they earn profits.  They traditionally borrowed via deposits and then turned around and lent these deposits out at a higher rate to earn a spread…banking 101 if you will.  But 2008 exposed a flaw in this model, as soon as even the whiff of a rumor of weakness at a bank would arise, this “hot money” would move to safer ground.  Whether this safer ground was another bank or even Treasury securities made no difference, the result was a bank(s) being left unfunded.  Their capital ran away and they were left with too many loans and assets (impaired?) carried by not enough capital.
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    read more!

Super_mario_draghi_going_for_breakfast

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December 10, 2014 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

The Calm Before the Storm: All Hell Will Break Loose In 2015!

Global Super Storm meltdown??

Global Super Storm meltdown??

  • The Calm Before the Storm: All Hell Will Break Loose In 2015! 
    by , http://www.thecommonsenseshow.com/ 
    Something big is about to happen. So many say that they can feel it in their bones.
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    A migration to underground hideouts began two years ago in earnest for members of the alphabet soup agency retirees. I knew one of these “refugees” personally and he pointed to 2015 as the time when he anticipated that all hell was going to break loose. I wrote an article about the defection of my FEMA contact, his family and like-minded individuals from FEMA and DHS,  almost two years ago.
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    Pastor Lindsay Williams recently sent me an email regarding a survival tip for the difficult times ahead. Pastor Williams has been a guest on my show several times and I sent him back an email asking when he would like to come back on my show. He responded that he has stopped doing interviews. His message indicated it is almost time to stop talking and to start preparing for some very dark days.
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    How do I know?  Some of my very best contacts have told me that it is time to stop warning the people, because it is now time to start hiding from the wrong people. My initial reaction is to not believe them, but there are too many well-placed sources to not take seriously.
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    Jim Marrs Saw the Warning on the Wall Five Years Ago
    In a December 9, 2012 interview on The Common Sense Show, Jim Marrs discussed how approximately 400-500 top level bankers have left their positions and have gone into seclusion. Marrs reminded my listening audience of how the elite have developed seed vaults which only they have access to. Marrs was clearly alluding to the fact that some very bad events are coming and the global elite are aware of it and are moving to meet the threat.  I have firsthand knowledge of four ex-fed officials and their families who have relocated to safety enclaves when doing so was very disruptive to their respective family’s lives. Increasingly, it is looking like some major event(s) is/are coming and persons with insider information are attempting to remove themselves from harm’s way. Jim Marrs will be a guest for three hours (9pm-Midnight Central) on December 7, 2014 to discuss this and other issues.
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    Another media friend of mine, Paul Martin, of Revolution Radio, has been repeatedly telling me that several key contacts of his from the various alphabet soup agencies as well as the military have, or are, leaving the country in anticipation of what is coming. In the past two weeks, I have had a number of phone calls from media people who are telling me that their sources are repeating the same mantra, or they are just dropping off of  the radar.
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    “Get ready for 2015″!
    We Are In the Calm Before the Storm Period
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    read more!

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December 9, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

NIRP Arrives In The US: TBTF Banks Tell Customers To Move Their Cash Or Be Charged Fees!

Beware_The_banksters_Cartoon

  • NIRP Arrives In The US: TBTF Banks Tell Customers To Move Their Cash Or Be Charged Fees! 
    by Tyler Durden, http://www.zerohedge.com 
    Back in June, the world was speechless when Goldman’s head of the ECB, Mario Draghi, stunned the world when he took Bernanke’s ZIRP and raised him one better by announcing the ECB would send deposit rates into negative territory, in the process launching the Neutron bomb known as N(egative)IRP and pushing European monetary policy into the “twilight zone”, forcing savers to pay (!) for the privilege of keeping the product of their labor in the form of fiat currency instead of invested in a global ponzi scheme built on capital market so broken even the BIS can no longer contain its shocked amazement.
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    Well, the US economy may be “decoupling” (just as it did right before Lehman) and one pundit after another are once again (incorrectly) predicting that the Fed may raise rates, but when it comes to the true “value” of money, US banks have just shown that when it comes to spread between reality and the economic outlook, the schism has never been deeper.
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    Enter US NIRP.
    As the WSJ reports, far from paying for the privilege of holding other people’s cash (and why would they with nearly $3 trillion in positive carry excess reserves sloshing around) US banks – primarily of the TBTF variety – “are urging some of their largest customers in the U.S. to take their cash elsewhere or be slapped with fees, citing new regulations that make it onerous for them to hold certain deposits.”

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    read more!

We will all be trillionaires but can't afford breakfast !

We will all be trillionaires but can’t afford breakfast !

Hyperinflation-Janet_Yellen_Breakfast

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December 9, 2014 Posted by | Economics, Social Trends | , , , , , , , , , | Leave a comment

Egon von Greyerz: Global Deflationary Implosion Will Start Money Printing!

  • Global Deflationary Implosion Will Start Money Printing! 
    by Greg Hunter’s USAWatchdog.com  (Early Sunday Release)
    Gold expert and money manager Egon von Greyerz says Japan is leading the parade to the bottom of the currency heap. Greyerz says, “Japan is printing unlimited amounts, and we can see that yen is leading the race to the bottom of the currencies.  Gold in yen is now only 10% below the peak because printing is debasing the currency.  That is what gold reflects.  Gold just reflects the destruction of paper money.  That’s happening in Japan, and it will happen in most other countries.   Greyerz goes on to say, “The Eurozone is under tremendous pressure, and it is virtually going into a deflationary implosion, and the ECB (European Central Bank) cannot let that happen because there will be no chance of the European banking system surviving with a deflationary implosion. Therefore, I am absolutely convinced the ECB is not far from starting to print major amounts of money, and that will accelerate in the next year. The U.S. is just a little bit behind, and the U.S. will also have to start printing money.”

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    Greyerz also predicts, “The yen is collapsing, and I think the next one to fall is probably the dollar, and I think that fall could actually be imminent. That’s going to happen at the same time gold starts going up.”  Greyerz goes on to explain, “There is no reason for the dollar to be strong.  It is size wise the most indebted economy in the world.  The so-called good figures coming out of the U.S. are not happening in the real economy.  It’s happening for some companies through financial engineering and the figures are not as good as they are being reported. We know ordinary people are suffering in the U.S., and the U.S. has the biggest debt in the world that will never be repaid. Tax revenues are more or less constant while the debt is going up exponentially.”
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    read more!

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December 8, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , | Leave a comment

John Williams: America and the Dollar is in Trouble!

  • John Williams: America and the Dollar is in Trouble! 
    by Greg Hunter’s USAWatchdog.com 
    Economist John Williams is not buying the recent 3.9% GDP upward revision. Williams explains, “No one I know thinks we are growing at 3.9% other than they are trying to sell a bill of goods to the markets, specifically the currency markets. 3.9% is nonsense. You had 4.6% growth in the second quarter and 3.9% in the third.  Here you had two quarters at close to 4%, and we have not seen anything like that since 2003.  This is the strongest economy we have seen in 11 years, and I can tell you Main Street USA is not seeing that. . . . If you understate inflation, which the government does, you overstate inflation adjusted growth, and that is probably the biggest problem in the GDP report.”
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    Recently, the U.S. deficit passed the $18 trillion mark, but using honest accounting, Williams says the debt picture is much worse, “Using generally accepted accounting principles with expenses and obligations, what you are seeing is the actual deficit. Instead of being half a trillion dollars last year, it was more like $6 trillion in the same length of time.  The gross federal debt right now is $18 trillion.  If you add on the unfunded liabilities such as Social Security and Medicare, you are approaching $100 trillion in terms of total federal obligation.  There is just no way that can be covered. . . . The government, long term, is bankrupt.”
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    read more!

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December 5, 2014 Posted by | Economics | , , , , , , , , , , , , | 1 Comment

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