Socio-Economics History Blog

Socio-Economics & History Commentary

Ireland’s Economic Suicide Pact with the E.U. !

  • Financial world war has been triggered. The Luciferian Banksters are taking over the world via debt enslavement. National sovereignties are being destroyed once a country buys into their system. You cannot solve a debt problem with more debts (bailouts). It will become an even bigger debt problem, an assured calamity and enslavement to Illuminist bankster!
     

    November 19, 2010 Posted by | Economics | , , , , , , | Comments Off on Ireland’s Economic Suicide Pact with the E.U. !

Crash JP Morgan Buy Silver Campaign Goes Global ! $500 Silver Target!!

Time to put Illuminist banksters to the sword !
  • It is time to put all the Illuminist banksters who are screwing the world to the sword ! Take no prisoners! We will not allow ourselves and our children to be enslaved by their fiat currency shenanigans any longer! 
     
    Crash JP Morgan Buy Silver Campaign Goes Global !
    (link here: http://unitednationsoffilm.com/?p=2452 )
    … During the interview on the Alex Jones Show, Max Keiser announced, “If everyone in America bought one silver coin, or even if one million people collectively bought 100 million ounces it would take it off the market and crash JPMorgan.” So people in their millions all over the world are buying physical silver. Coins, troy ounces, everything they can get their hands on.
     
    Keiser goes on to suggest, “If we can get everybody to buy one ounce of silver”. By using a google bomb or typing in the search term “Crash JP Morgan Buy Silver”, into the Google search engine the campaign has gone viral and this thing is now global. There are over 25 million search results in a matter of days from the announcement. Why so popular? Well people are F*** Pissed. The Luciferian Ponzi Scheme is imploding and has been uncovered, the entire financial system is a fraud and we are in the middle of the biggest revolution of human consciousness in history. What we are witnessing is the collapse of the biggest Ponzi Scheme in history, the Federal Reserve Crime Syndicate and Banksters Crash and Burn. *** New Google Bomb – 500 Dollar Silver
      ….
    The War is On
    The war is on and it’s not being fought with the bullets, bombs, illegal country invasions and chemical weapons the banks themselves have been investing in, it is being waged by the people (some 6.5 billion of us) vs. a few thousand global elite, illuminati royal banking families who throughout history have stolen everything. The law, in fact come down to a few simple facts. You don’t steal from anyone, you don’t harm anyone or their property and you don’t take what is not yours by illegal measures. The illuminati royal banking families have done exactly this. They are guilty of fraud, theft, illegal wars, murder, mass genocide, collusion, racketeering, deception, money laundering, drug trafficking, people trafficking, paedophilia, environmental catastrophe, the list is endless.
      
    $500 Dollar Silver
    The Crash JP Morgan Buy Silver Manifesto or: How to Get Hedge Funds To Do Your Dirty Work For You And Drive the Price of Silver to $500
     
    1 – JP Morgan has a huge short position in Silver – estimated to be 3.3 billion ounces – tied to an enormous, extremely precarious derivatives position (estimated to represent 1.5 trillion in risk to its balance sheet at $500 Silver).
     
    2 – Various exchanges around the world have been caught manipulating the price of Silver using ‘naked’ short sales i.e., counterfeiting.
     
    3 – Of all the actively traded commodities traded around the world, Silver is one of the least plentiful and its supply is shrinking, but its industrial uses are multiplying. The ‘networked’ age of global communications is built with Silver.
     
    4 – Hedge funds are taking physical delivery of Silver – adding substantial demand as well as exposing these exchange’s naked short positions – who are already scrambling to deliver – jacking prices up to multi-decade highs – and inspiring these predatory funds to buy more Silver.
     
    5 – There are billions of people around the world who are aware that banks have been committing fraud and embezzlement who are upset that their politicians seem only interested in helping the banks commit more fraud – who are looking for a cheap way to non-aggressively fight back and decapitalize these banks.
     
    6 – Many of these people have the access and wherewithal to purchase 1 ounce of Silver – thus removing hundreds of millions of ounces of Silver from the ‘paper’ market – forcing additional scrambling by dealers to fill orders by buying back short positions – inspiring the funds to buy and take physical delivery of more Silver – creating a colossal short squeeze – in which JP Morgan stands to be the biggest loser.
     
    7 – Buying Silver is how the world is monetizing its anger at the banks who stole their wealth.
     
    8 – Crash JP Morgan Buy Silver 

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November 19, 2010 Posted by | Economics | , , , , , , , | 2 Comments

Max Keiser: Congress Will Try — By Secret Vote — to Retroactively Legalize Foreclosure Fraud ! US$500/oz Silver Coming!

November 19, 2010 Posted by | Economics | , , , , , | Comments Off on Max Keiser: Congress Will Try — By Secret Vote — to Retroactively Legalize Foreclosure Fraud ! US$500/oz Silver Coming!

Eurozone Debt Crisis 2.0: Dollar Sucks Less than Euro, Again!

  • The corporate MSM is used as a propaganda tool by the Illuminists. It is there to sell wars and more wars. It is there to sell fabricated evidences of ‘terrorism’, WMDs, nuclear weapons …. to foment wars for the Illuminati. War is simply a method of raping the sheeple of their possessions and mass culling. The Illuminist ruling class builds their private military industrial complex (MIC) up using the taxes of the sheeple, ie wealth of the sheeple, and amass even more power. The Satanic cabal which rules this world uses war as a method of controlling the sheeple.
     
  • The financial MSM sells the Wall Street casino. Like all casinos: the house always wins. The sheeple are led down the street to financial ruin via all these financial ‘experts’ on TV. Will they tell you about the fraud and crime perpetrated by privately owned central banks? Will they tell you that the FedRes and ECB creates money out of nothing and loan it to the governments with interest? Will they tell you that governments are just another fully owned department of Illuminist banksters? All the bailouts are really about giving money to the banksters!
     
    Eurozone Debt Crisis 2.0: Dollar Sucks Less than Euro, Again
    The grand symphony of currency manipulation seems more finely orchestrated than ever before. However, it’s not necessarily the fundamentals that are moving currencies so much as global perception.  In the battle between the Fed’s quantitative weakening of the dollar versus the eurozone debt crisis, the dollar is winning this round of who sucks less.
     
    On October 1st, I posed the question, 
    will the dollar rebound before being dissolved into a global currency? At that time, no one was predicting the dollar to gain strength with the Federal Reserve planning more quantitative easing.  The windbag media promoted QE2 as a stock market stabilizer and a boost to U.S. exports, yet most experts openly called it a backdoor bailout, or monetizing debt, or plain old money printing.  Nearly everyone agreed it would ultimately erode the value of the dollar even further and cause measurable inflation.
      
    Indeed, it was a well-justified gloom-and-doom 6 months for the dollar by Fed critics.  After all the media build-up, the Fed’s announcement of the
    $600B easing plan came strategically on the day after mid-term elections, when most of the media was focused on feeding the false left-right frenzy by digesting the election results.  In other words, QE2 got some mention, but the timing was clearly a tactic to keep a lid on the talking-head backlash.  Then, Obama rushed out of the country for the G20 economic summit taking the remaining media distraction with him.  Between stories of Michelle’s shopping trips, it was revealed that China and other foreign economic players were not very happy about the Fed’s move. Yet, the dollar started to rally.
     
    Recent commentary by Chuck Butler in the
    Daily Reckoning questions the commodity sell-off and dollar rally:
     
    But does it all make sense, given what I mentioned above that the FOMC is looking for inflation to inject into our economy? No… But since when, going back to the financial meltdown, does anything the markets do make sense?Nothing makes sense if we still believe fundamentals actually matter.  Sure the dollar is nearly dead, fundamentally, but it seems that perception now trumps concrete analysis.  As I reported in October:
     
    The fundamentals suggest that it (the dollar) should be finished, but just as the world is about to declare it dead, miraculously a global storyline seems to emerge just when needed and foreign investors rush back in for “safety.”  A clear example was the steady drumbeat of a sovereign-foreign-debt war that resulted in reports of whether the Euro would even survive, while the dollar enjoyed a triumphant ride up victory mountain.
     

    Now, here we go again.  As soon as the Fed announcement was made, the media shifted its focus once again to the eurozone debt “crisis.”  Story after story, day after day, about the developing crisis in Ireland — and now Portugal.  News agencies often salivate to repost these headlines, because crisis sells.  And it sells because doom and gloomers, otherwise known as fundamental analysts, are waiting for reality to catch up to the numbers — not just in the eurozone, but globally. The debt-infected PIIGS is a legitimate story, but it is clearly being heavily pushed to make the dollar look less pitiful.
     
    …. to continue reading click here!

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November 19, 2010 Posted by | Economics | , , , , , , , , , , | Comments Off on Eurozone Debt Crisis 2.0: Dollar Sucks Less than Euro, Again!

Tavakoli on Bank & Foreclosure Fraud !

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  • The truth is America is being ‘raped’ by Illuminist banksters. Main Street is suffering while the Illuminist owned corporate media is trumpeting the Wall Street casino. Banksters are giving themselves billions of dollars in bonuses while holding trillions of dollars of toxic worthless derivatives. The use of Marked to Fantasy accounting standard has allowed the banksters to get away with it. The Illuminist bankster owned GMan will not do anything about.
      
    Jamie Dimon and Robert Rubin: Evasive on “Fraud as a Business Model”
    Foreclosure fraud isn’t about losing paperwork or having incorrect paperwork. It is about committing fraud and trying to manipulate the U.S. legal system. No one — not even a bank — can show up in court with phony evidence. State Attorneys General decry foreclosure fraud, because among other things, people signed affidavits making representations that were untrue. This is fraud on the court. All of these foreclosures may be vacated.
     
    Corrupt people in Congress and corrupt regulators cannot intervene for the banks this time. Banks have to face state courts, and many Attorneys General are happy to take them on. Banks that committed fraud on the court do not get a do-over. Even if they can show up later with correct documents, it does not erase the original crime of fraud on the court. Anyone who presented phony documents as evidence in court broke the law.
     
    Former Ohio Attorney General Richard Cordray advised banks that engaged in fraud on the courts (by submitting falsified affidavits) to negotiate meaningful loan modifications.
     
    Jamie Dimon’s Evasion
    Jamie Dimon, CEO of JPMorgan Chase, said that JPMorgan did not foreclose on people who didn’t deserve it. Dimon was dismissive saying JPMorgan might have to pay some penalties, but it should just carry on with foreclosures. JPMorgan’s third quarter 2010 report contradicts its CEO:
     
    “But the financial statement itself proved the lie. The bank said it was carefully checking 115,000 mortgage affidavits. It set aside a whopping $1.3 billion for legal costs. And it put an extra $1 billion into a now $3 billion fund for buying back bunk mortgages and mortgage products.”
    Too Big to Fail Rears its Head Again,” by Annie Lowrey, Washington Independent, October 14, 2010.
     
    JPMorgan’s role in alleged foreclosure fraud had already been made public when Dimon made these ill-considered statements. In a
    CNBC interview, Former Ohio Attorney General Richard Cordray retorted to baseless claims made by Ally Bank, formerly known as GMAC Bank, which was bailed out by TARP. Ally said that it didn’t know of instances of improper foreclosures. Cordray shot back that every foreclosure done with falsified affidavits was improper. It’s fraud on the courts. He stated that as yet, no one knows the scope, but it could be tens of thousands or hundreds of thousands of instances of fraud on the court.
     
    The fact that this happened repeatedly doesn’t make it more excusable, it makes it worse. Ally Bank, Bank of America, and JPMorgan have admitted to this practice. Apparently they had “fraud as a business model.”
     
    The good news for banks is that Richard Cordray was not reelected to the post of Ohio’s Attorney General. The bad news for banks — and the good news for Ohio — is that Cordray may become an Ohio Supreme Court Justice.
     
    Robert Rubin Dodges Responsibility
    The Economist’s Buttonwood Gathering in New York on October 25 featured Robert Rubin, former senior advisor of Citigroup (also former Treasury Secretary under President Bill Clinton, and former Co-Chair of Goldman Sachs) as head of the first panel. He led a role-play about what might happen if one of the United States defaulted on its debt in the year 2013.
     
    States cannot declare bankruptcy, but neither Rubin nor any other panel member mentioned it. Instead of putting states on notice now that they have to get their budgets in order — even if it means cutting back on promises — the panel suggested that the Federal Government should bail out the states.
     
    When it came time for Q&A, I asked the first question and framed it by pointing out the irony of this panel discussing a potential state default and systemic risk. While many states have been fiscally irresponsible, their distress is now acute due to fraudulent lending further damaging the economy leading to reduced tax revenues.
     
    Moreover, weak states also have higher borrowing costs, since municipal bond insurers’ credit ratings imploded after they sold credit default swap (CDS) protection on value destroying securitizations (CDOs).
     
    Rubin’s Citigroup bought credit default swap protection from Ambac, one of the two largest municipal bond insurers, on Citi’s value destroying mortgage backed securitizations.
     
    During Rubin’s watch as Citigroup’s “risk wizard,” Ambac sold protection on Citi’s toxic CDOs including Diversey Harbor ($1.875 billion), Ridgeway Court Funding I ($1.57 billion), Ridgeway Court Funding II ($1.95 billion), Adams Square II ($510 million), 888 Funding ($500 million), Class V Funding III ($500 million). Citi settled many of these contracts with Ambac for deep discounts. (The Fed did not have taxpayers’ interests in mind when it settled AIG’s transactions with Goldman Sachs and others for 100 cents on the dollar.)

     
     ….. to continue reading click here!

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November 19, 2010 Posted by | Economics | , , , , , , | Comments Off on Tavakoli on Bank & Foreclosure Fraud !

Chris Whalen: California Will Default On Its Debt!

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  • As many as 46 out of 50 states are bankrupt! America will QE to infinity. The USD is toast!
      
    California Will Default On Its Debt, Says Chris Whalen
    Municipal bonds have plummeted in recent days, as investors have suddenly focused on huge state and city budget deficits that there’s no easy way to fix. Nowhere has this collapse been more visible than California, which faces a massive $25 billion shortfall and red ink for as far as the eye can see.
     
    After years in which every looming financial crisis has been met with a government bailout, you might think that the same solution awaits California, as well as all the other states that have huge obligations that they can’t afford to meet. But this time that may not happen, says Chris Whalen, a financial industry analyst and Managing Director of
    Institutional Risk Analytics.
     
    In fact, Whalen thinks that California will default on its debt–hammering all the pension funds and other investors who have loaded up on apparently safe state bonds. The state won’t immediately default, Whalen says.  It will start by issuing the same sort of IOUs that it issued to by itself time during its budget crisis last year.  But, eventually, the debts will have to be restructured, and this will result in those who own California’s bonds receiving less than 100 cents on the dollar.
     
    Why won’t California just get a bailout?
    Because the Republicans now control Congress, Whalen says.  And also because, if California gets bailed out, dozens of other states will immediately line up with their hands out.  The public is fed up with bailouts, Whalen says–and eventually, the country will be forced to face up to its bad debts and write them off.
     
    Of course, if Whalen is right, the country could have a major crisis on its hands.  California is hardly the only state in trouble (click here to see the worst ones), and pension funds and other “safe” investments that Americans depend on will get hammered if states begin to default.
     
    Fixing state and local obligations will also require the renegotiation of pensions and salaries that government workers have long since taken for granted.  And they certainly won’t give those up without a fight.

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November 19, 2010 Posted by | Economics | , , , , , , , , , | Comments Off on Chris Whalen: California Will Default On Its Debt!

Keiser Report: ‘Crash JP Morgan’ Special ! Buy Physical Silver!

November 19, 2010 Posted by | Economics | , , , , | Comments Off on Keiser Report: ‘Crash JP Morgan’ Special ! Buy Physical Silver!

Silver Manipulation Song! 25 Lawsuits Filed Against JP Morgan!

  • Silver rocketed US$1.30 yesterday. Despite the CME increasing margins 2 times in a week, silver has recovered and will touch US$30/oz soon! Quote From Ted Butler’s Latest:
     
    “There have now been 25 lawsuits filed against JPMorgan, etc., for manipulating the price of silver. JP Morgan and silver manipulation have become synonymous.”

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November 19, 2010 Posted by | Economics | , , | Comments Off on Silver Manipulation Song! 25 Lawsuits Filed Against JP Morgan!