Socio-Economics History Blog

Socio-Economics & History Commentary

Dubai Real Estate Crash !

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February 3, 2009 Posted by | Economics | , | 4 Comments

Ron Paul – End The Federal Reserve !

  • Ron Paul gives his views on what is happening in America in a conference by Mises Circle in Houston (24th Jan 2009).
     
  • Senator Paul says the current fiat money system based on the USD is coming to an end. People are coming to the realization that the Central Bank – Federal Reserve is the cause of the nation’s problems.
     
  • There is no accountability because the FedRes is not bound by law to reveal what they do. The FedRes is a private corporation run for the benefit of their bankster shareholders. The Federal Reserve is no more Federal than Federal Express!
     
  • Senator Ron Paul says : Let’s get the Government out of our Lives! And let’s end the Fed ! I agree totally !
     
  • Is there a Satanic Banking Cartel that wants to conquer and rule the world ? Henry Makow writes in The Satanist Banker Conspiracy :
     
    …..  the central banking cartel is the only group that has both the motive and the means to take over the world. Consisting mainly of Cabala-believing Jews and Freemasons, it is the HEAD of the octopus. Zionism, Freemasonry, organized Jewry, Western Imperialism, Jesuits, Vatican, Intelligence agencies, mass media, etc. are among countless octopus arms. 
     
    The “motive” is to protect its fraudulent private monopoly over public (government) credit (money creation) which is worth trillions and trillions. They need a “world government” to ensure that no nation creates its own interest free money or defaults on the loans the bankers created out of nothing. 
     
    The “means” of course is unlimited money funneled through their network of cartels, which allows them to own the government, mass media, education etc. Anyone who succeeds in public life is their puppet or unconsciously serves their agenda. Their Zionist-Freemason-Communist-Socialist-MI-5/6 network allows them to exercise covert control on the ground. 
     
    About 1770, a syndicate of bankers led by Mayer Rothschild started the “Illuminati”, a satanic cult designed to subvert society. According to Edith Starr Miller, the Rothschild syndicate included Jewish financiers such as Daniel Itzig, Friedlander, the Goldsmids and Mosses Mocatta. (“Occult Theocracy” p. 184.) 
     
    According to Miller, the goals of the Illuminati (Communism and the NWO) were the destruction of Christianity, monarchies, nation-states (in favor of their world government or “internationalism”), the abolition of family ties and marriage by means of promoting homosexuality and promiscuity; the end of inheritance and private property; and the suppression of any collective identity in the spurious name of “universal human brotherhood” i.e. “diversity.” (p.185) 
     
    SATANISM 
    The ideology behind this world tyranny, Illuminism, derives from the Jewish Cabala which conveniently preaches that man (i.e. the bankers) can usurp the place of God and redefine reality. Thus, the goal of world banker conspiracy is to enshrine Satan as God. The Illuminati uses revolution, war and financial turmoil to inaugurate their “New World Order.” 
     
    The world government tyranny is the only conquest to take place without the knowledge of the conquered. In the First Protocol of the “Protocols of the Elders of Zion,” the author says three times, our “countersign” is “Force and Make-believe.” By “Make-believe” he means mass deception or “magic.” 
     
    When alien bankers control the purse strings, inevitably the State becomes synonymous with these bankers. The State is a ruse used to manipulate the masses, “public” in name only. This is the truth behind the “make-believe” face of the Communist NWO. 
     ……
     
  • See also :
     
    America: From Freedom to Fascism
    America – Why do We Fight ?
    Do Banksters and the Military Industrial Complex Rule the World ?
    Federal Reserve is a Private Company.
     

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February 3, 2009 Posted by | Economics | , , , | 1 Comment

Global Depression – Social Unrest – Violent Protests

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Arcellor Mittal workers demonstrate during a protest march in Marseille. Photograph: Jean-paul Pelissier/Reuters

  • When the global economy tanks, hardship increases for the man in the street. We are seeing more and more violent protests. I see this escalating worldwide. Worse is to come when hyper-inflation sets in. That is when the middle class, the hardworking folks, the savers and conservative people see all their savings being inflated away. Inflation is a tax on savings. Every $100K you save in the bank will buy you less and less (less purchasing power) progressively. With hyper-inflation it is a lot worse.
     
  • 3 articles on the social unrest in the world. First, Governments across Europe tremble as angry people take to the streets :
      
    France paralysed by a wave of strike action, the boulevards of Paris resembling a debris-strewn battlefield. The Hungarian currency sinks to its lowest level ever against the euro, as the unemployment figure rises. Greek farmers block the road into Bulgaria in protest at low prices for their produce. New figures from the biggest bank in the Baltic show that the three post-Soviet states there face the biggest recessions in Europe.
      …….
    Europe’s time of troubles is gathering depth and scale. Governments are trembling. Revolt is in the air.
     
    Athens
    Alexandros Grigoropoulos, a 15-year-old middle-class boy going to a party in a rough neighbourhood on a December Saturday, was the first fatality of Europe’s season of strife. Shot dead by a policeman, the boy’s killing lit a bonfire of unrest in the city unmatched since the 1970s.
     
    There are many wellsprings of the serial protests rolling across Europe. In Athens, it was students and young people who suddenly mobilised to turn parts of the city into no-go areas. They were sick of the lack of jobs and prospects, the failings of the education system and seized with pessimism over their future.
     
    This week it was the farmers’ turn, rolling their tractors out to block the motorways, main road and border crossings across the Balkans to try to obtain better procurement prices for their produce.
     
    Riga
    The old Baltic trading city had seen nothing like it since the happy days of kicking out the Russians and overthrowing communism two decades ago. More than 10,000 people converged on the 13th-century cathedral to show the Latvian government what they thought of its efforts at containing the economic crisis. The peaceful protest morphed into a late-night rampage as a minority headed for the parliament, battled with riot police and trashed parts of the old city. The following day there were similar scenes in Vilnius, the Lithuanian capital next door.
     
    After Iceland, Latvia looks like the most vulnerable country to be hammered by the financial and economic crisis. The EU and IMF have already mounted a €7.5bn (£6.6bn) rescue plan but the outlook is the worst in Europe.
      
    Paris
    Burned-out cars, masked youths, smashed shop windows, and more than a million striking workers. The scenes from France are familiar, but not so familiar to President Nicolas Sarkozy, confronting the first big wave of industrial unrest of his time in the Elysée Palace.
       
  • Second, Violent unrest rocks China as crisis hits :
      
    Bankruptcies, unemployment and social unrest are spreading more widely in China than officially reported, according to independent research that paints an ominous picture for the world economy.
     
    The research was conducted for The Sunday Times over the last two months in three provinces vital to Chinese trade – Guangdong, Zhejiang and Jiangsu. It found that the global economic crisis has scythed through exports and set off dozens of protests that are never mentioned by the state media. 
      ……
    The instability may peak when millions of migrant workers flood back from celebrating the Chinese new year to find they no longer have jobs. That spells political trouble and there are already signs that the government’s $585 billion stimulus package will not be enough to achieve its goal of 8% growth this year. 

      ……
    Even security guards and teachers have staged protests as disorder sweeps through the industrial zones that were built on cheap manufacturing for multinational companies. Worker dormitory suburbs already resemble ghost towns.
     
    In the southern province of Guangdong, three jobless men detonated a bomb in a business travellers’ hotel in the commercial city of Foshan to extort money from the management.
     
    The Communist party is so concerned to buy off trouble that in one case, confirmed by a local government official in Foshan, armed police forced a factory owner to withdraw cash from the bank to pay his workers.
     
    “Hundreds of workers protested outside the city government so we ordered the boss to settle the back pay and sent police armed with machine-guns to take him to the bank and deliver the money to his workforce that very night,” the official said.
     
    On January 15 there were pitched battles at a textile factory in the nearby city of Dongguan between striking workers and security guards.
     
    On January 16, about 100 auxiliary security officers, known in Chinese as Bao An, staged a street protest after they were sacked by a state-owned firm in Shenzhen, a boom town adjoining Hong Kong.
     
    About 1,000 teachers confronted police on the streets of Yangjiang on January 5, demanding their wages from the local authorities. 
      
     

    russia-unrest1

    REUTERS - Supporters of the banned National Bolshevik party protest against Moscow's rulers

  • Third, Dissent beginning to spread across Russia as crisis bites :
      
    The Kremlin’s rule is beginning to look much shakier than at any time since Vladimir Putin came to power, after a series of protests in cities across its vast landmass this weekend by Russians disgruntled about the economy. And as the country starts to feel the effects of the global credit crunch, there are also signs of a growing rift between Prime Minister Putin, and his hand-picked successor as President, Dmitry Medvedev.
     
    In Vladivostok, 2,000 protesters took to the streets, with some carrying banners reading “Kremlin, we are against you”, and other people chanting directly for the removal of Mr Putin. The Pacific port city, seven time zones away from Moscow, has become a focal point for dissent after riot police broke up a march last year over car imports and detained 100 people. Saturday’s demonstration, under the watchful eye of the police, passed off peacefully.
     
    Nearly every major city had a street rally, and though most were low key, the unusual scale of dissatisfaction is likely to worry the authorities. The Russian economy has been hit hard by falling oil prices, many oligarchs have seen billions of pounds wiped off the value of their shares, and ordinary Russians are feeling the pinch as factories struggle to stay afloat and companies lay off employees.
     
    In Moscow, a motley band of communists, anarchists and liberals gathered at several points across the city to protest against Kremlin rule. At one spot, a dozen protesters taped over their mouths withwhite tape, held up white placards with no slogans, and handed blank white flyers to passers-by. Bemused by such a conceptual approach to protest, the police rounded them up and arrested them anyway, and the organiser got five days in prison.

     
  • This is beginning to look more and more like the period before WW2. The 1st Great Depression led to WW2. Are we seeing a repeat of the social conditions? Will we see another global war? WW3 ? 

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February 3, 2009 Posted by | Economics, Social Trends | , , , , | Comments Off on Global Depression – Social Unrest – Violent Protests

Can Countries Go Bankrupt ?

  • Most people think that there is no way a country can go bust. Tell them America is going bust and they will laugh at you. How can the most powerful nation in the world go bankrupt? The only superpower in the world can never ever default on its debt ! Really ?
     
  • Well guess what? Nations do go bust. Argentina, Iceland, Mexico, Russia (remember this great superpower?) and many more have gone bust. The Roman empire became bankrupt and collapsed. Why not America? Why not the European Union? Why not the Middle East Oil power? Aren’t they suppose to be filthy rich with their inexhaustible black gold? The news is, they are in trouble because they have build their economy on US$80/barrel oil. It is now US$40/barrel. Dubai is littered with frozen real estate projects that are half complete.
     
  • Spiegel Online International reports in Can Countries Really Go Bankrupt? :
      
    “There’s a rumor going around that states cannot go bankrupt,” German Chancellor Angela Merkel said recently at a private bank event in Frankfurt. “This rumor is not true.” Of course she’s right. Countries can go bankrupt if they allow their deficit spending to spin out of control and are no longer able to service their interest payments. Merkel’s comments can be read as a warning that countries need to keep their deficit spending in check. The message is: If governments go too far in trying to bail out companies and the economy, they could face insolvency themselves. 
     
    And so far, national governments have gone very far. Be it in the United States or in Europe, the sums governments are having to cough up to prevent the financial system from collapse are staggering. 
     
    Germany alone has already provided credit guarantees of €42 billion ($52.28 billion) to prevent the collapse of Munich’s Hypo Real Estate, a bottomless pit that most now believe will have to be fully nationalized. The only thing holding up such a move is a legal provision in Germany that limits state holdings in banks to 33 percent. Meanwhile, Germany’s second-largest consumer bank, Commerzbank, has been bailed out, with the state taking a one-quarter stake in the company. And the recent fourth-quarter loss of €4.8 billion at Germany’s leading financial institution, Deutsche Bank, suggests that it too may ultimately require state assistance.
     
    From Inconceivable to Inevitable
     
    The image is even bleaker in the United States, where economist Nouriel Roubini estimates that losses in the financial sector will total $3.6 trillion. In the United Kingdom, the government has partially nationalized the Royal Bank of Scotland and Lloyds TSB — and many experts see a full nationalization as inevitable.
     
    There are few who would disagree with such moves. Should large systemically-vital banks go bust, the global financial system would collapse. But how much can countries afford to pay before the deficit-spending bubble bursts? An unimaginable scenario? Less than a year ago, a nationalization of banks in the US, Germany and Britain would have been inconceivable. Today, even the US — the home of unbridled capitalism — sees these moves as inevitable.

     
  • Take the example of Britain and Italy :
     
    The country is on the brink of financial ruin. Real estate is overvalued, private households are overly indebted and its vast financial sector has been badly hit by the crisis. Confidence in Britain’s ability to overcome the economic turmoil is sinking by the day, as evidenced by the precipitous decline of the pound, which has almost reached parity with the euro. Just 13 months ago, it was worth €1.40.
     
    A Second Iceland
     
    “I wouldn’t invest any more money in Great Britain,” says American investor Jim Rogers. And economist Willem Buiter, a former consultant to the Bank of England, warns of the “risk that Great Britain will become a second Iceland.”
     
    One can also look to the example of Italy, which is on track to join a rather exclusive — and undesirable — club. At 106 percent of gross domestic product, Italy will have the third-largest national deficit in the world. In a country that has long had a solid savings rate, deficit spending hasn’t proven to be a huge problem in the past. The greatest challenge the government had was luring people to buy bonds at a set interest rate. The country’s finance minister has described these investments as the “most solid and secure thing available.” Of course, not everyone shares that opinion at the moment — particularly not the Italians themselves. One bond that was floated in mid-January only found takers after the government markedly increased the interest rate offered.

     
  • Saddled with huge debts, both America and the EU are burdening future generations with exorbitant debt repayments. At some point in time spending must be reigned in and taxes must increase. A US$10T debt at 3% amounts to interest payment of US$300B per year for America. With tax revenue of about US$ 2.1 to 2.4 T, interest payment amounts to 12 to 15% of tax revenues. 
     
  • As tax revenue collapses in the next few years, the budget deficit will rocket upwards. The deficit for 2009 will easily exceed US$ 2T. Projections into 2012 are for deficits of US$ 1T/year at least. How long can this last? This can only be financed be foreigners and they are pulling out.
     
  • Spiegel Online again :
     
    In a study for the International Monetary Fund, US economists Carmen Reinhart and Kenneth Rogoff researched financial crises of the last 800 years and concluded that state bankruptcies were a “universal phenomenon.” Many countries have, in fact, gone bankrupt more than once.
     
    Between 1500 and 1800, France became insolvent eight times. Spain went bankrupt seven times during the 19th century. Insolvency is a common phenomenon in every period of history, they concluded, and it would be erroneous to think that state bankruptcies are a “distinctive feature of the modern financial world.” 
     
    In most cases the country’s coffers were wiped out by war. But in each case, the countries managed to bring themselves back from ruin. They proved to be incredibly resourceful in using their connections to banks, companies and, especially, the people.
     
    The simplest solution was for states to just outright refuse to pay back their debts. In 1557, Spain’s King Philipp II refused to pay his country’s debts after its expensive military battles against the Dutch and the Ottomans. It was a decision that seriously damaged lender banks in Augsburg, Germany, and they never fully recovered.
     
  • The other options for a country like America are as follows :
     
    A similarly brutal option was to go to war to in order to plunder occupied areas. But such methods of budget consolidation tended to only happen when things started to collapse. Even in the old days, inflation was the preferred method of dealing with debt. They created more money and devaluated it. It’s a method that was adopted as early as ancient Rome, where the Romans devaluated their coins by using fewer precious metals in them. It became a standard practice. In Vienna, the silver content in the Kreuzer coin was reduced by 60 percent between 1500 and 1800 and the Ausgburg pfennig lost more than 70 percent of its value.
     
    Once paper money was introduced, the process was further simplified, since you could just print it. The first country to start printing money on a grand scale was France in the 18th century, when it needed to pay off the mountain of debt accrued by Louis XIV. In times of crisis, French governments ever since have fallen for this temptation.
     
  • Go to war for economic conquest or inflate your way out of the problem? Bernanke favors hyper-inflating away America’s debt. Quantitative Easing – Let’s print more money out of thin air! Would it surprise me if some knuckle headed politicians decide to engineer a WW3 to get the country out of the problem? Not at all. Some say, WW2 was engineered so that America could get out of the Great Depression.
     
  • When countries take the option of hyper-inflating their debts away, it means currency devaluation. History teaches us :
     
    In 1914, with the start of World War I, the German Reich also began to unpeg its currency from gold. Until then, anyone could trade paper money for precious medals. Unpegging the currency meant that the amount of money in circulation rose from 13 to 60 billion marks by the end of the war, while the products on offer were reduced by one-third. Prices skyrocketed.
     
    The disastrous development reached its peak in 1923 with hyperinflation. The exchange rate at the time was 4.2 trillion marks to the dollar. Bank notes were printed in 130 private printing presses, often on one side only to save ink. The only thing that could stop the mass devaluation was to change currencies.In November 1923, the government issued the so-called Rentenmark. The previous currency could be exchanged at a rate of 1 trillion marks for 1 Rentenmark. Inflation quickly stopped. People spoke of the “miracle of the Rentenmark.” But the truth is that it wiped out the savings and investments of large swaths of the German middle class as well as wealthy people who had been forced to finance the war by buying government bonds that had now been rendered worthless. Banks and insurance companies also lost their capital. The greatest winner, besides people who had loans or mortgages they no longer had to pay back, was the government. Its war debt shrank into insignificance.
     
    These traumatic events remain a part of the Germany’s collective memory and they fuel a latent fear of hyperinflation here today. Should people be afraid?

     
  • Spiegel Online asks :
     
    So will things get better? It would be an illusion to believe that countries have learned from their past mistakes, US economists Reinhart and Rogoff warn. In fact, another state could go bankrupt at anytime and take its people down with it.
     
    In this crisis, nothing is unimaginable anymore.
     
  • Will more countries go bust? Yes, without a doubt. Will America and Britain go bust? Yes! So will many EU countries and G20 countries! We are heading towards global insolvency. See also :
     
    GEAB : Systemic Economic Crisis: The Sequence of Global Insolvency Begins

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February 3, 2009 Posted by | Economics | , , , | 4 Comments

Chuck Missler – Return of the Nephilim, UFO, Aliens & the Bible

  • This is a continuation of the earlier video by Dr. Chuck Missler :

    Chuck Missler – Days of Noah, Nephilims & UFOs

  • Dr Missler continues on his exposition with a Biblical perspective. He covers the history of the UFO phenomenon from Roswell all the way to the present day. There seems to be ‘smoking gun’ evidence from original photos now digitally enhanced with modern technology that a UFO did crashed in Roswell. What are ‘Grays’, ‘Nordics’ and ‘Reptilians’ ??
  • He covers the science behind a 10 dimension universe. What type of universe are we living in? Why does UFOs seem to materialize and de-materialize so easily? He also covers the phenomenon of crop circles. Are they all man made and a prank? Or could there be some other explanation for some of them.
  • The bible speaks of a coming worldwide deception, 2 Thess 2:9-12 :

    9 The coming of the lawless one is according to the working of Satan, with all power, signs, and lying wonders, 10 and with all unrighteous deception among those who perish, because they did not receive the love of the truth, that they might be saved. 11 And for this reason God will send them strong delusion, that they should believe the lie, 12 that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.

  • Throughout ancient history, there has been records of half man, half god creatures (demigods) which we dismiss as myths. In ancient Babylon, they talk of the Annunaki. ‘Gods’ that came down from the heavens and taught man technology and knowledge. These ‘gods’ procreated with women and produced : Children of gods. Are these children/Nephilims returning? Are these fallen angels returning? Who built the pyramids? Who built the Temple of BaalBeck in Lebanon?

    baalbeck2

  • The bible speaks of an episode in history where angels co-habited with man, Jude 1:6-7 :

    And the angels who did not keep their proper domain, but left their own abode, He has reserved in everlasting chains under darkness for the judgment of the great day; 7 as Sodom and Gomorrah, and the cities around them in a similar manner to these, having given themselves over to sexual immorality and gone after strange flesh, are set forth as an example, suffering the vengeance of eternal fire.

    Similarly, 2 Peter 2:4-6 :

    4 For if God did not spare the angels who sinned, but cast them down to hell and delivered them into chains of darkness, to be reserved for judgment; 5 and did not spare the ancient world, but saved Noah, one of eight people, a preacher of righteousness, bringing in the flood on the world of the ungodly; 6 and turning the cities of Sodom and Gomorrah into ashes, condemned them to destruction, making them an example to those who afterward would live ungodly;

  • The bible also speaks of some time in the future where the beast that ascends out of bottomless pit will come upon earth. This beast : was and is not and is coming upon the earth. Is this a fallen angel that wreaked havoc on the earth in pre-flood times and was imprisoned in the bottomless pit (Could this be a Black Hole?) ?

    Revelation 11:7
    [ The Witnesses Killed ] When they finish their testimony, the beast that ascends out of the bottomless pit will make war against them, overcome them, and kill them.

    Revelation 17:8
    The beast that you saw was, and is not, and will ascend out of the bottomless pit and go to perdition. And those who dwell on the earth will marvel, whose names are not written in the Book of Life from the foundation of the world, when they see the beast that was, and is not, and yet is.

  • See also :

    Steve Quayle on Black Ops, UFOs, Nephilims and the Bible
    Epidemic of UFO Sightings in UK, Summer 2008

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February 3, 2009 Posted by | EndTimes, History | , , | 38 Comments