Socio-Economics History Blog

Socio-Economics & History Commentary

Celente, Corzine And The Great U.S. Bank Holiday!

November 23, 2011 Posted by | Economics | , , , , , , , , , , | Comments Off on Celente, Corzine And The Great U.S. Bank Holiday!

Bill Hicks (Humor): US Supplied Iraq with WMDs in The 1980-1990s (Hilarious)!

  • Bill Hicks is hilarious but absolutely accurate with his portrayal of what really happened (and is still happening). The basic idea is to build up enemies around the world so that the Illuminist MIC can have continuous wars!

    How Did Iraq Get Its Weapons? We Sold Them 
    by Neil Mackay and Felicity Arbuthnot (Scotland)
    THE US and Britain sold Saddam Hussein the technology and materials Iraq needed to develop nuclear, chemical and biological weapons of mass destruction.

    Reports by the US Senate’s committee on banking, housing and urban affairs — which oversees American exports policy — reveal that the US, under the successive administrations of Ronald Reagan and George Bush Sr, sold materials including anthrax, VX nerve gas, West Nile fever germs and botulism to Iraq right up until March 1992, as well as germs similar to tuberculosis and pneumonia. Other bacteria sold included brucella melitensis, which damages major organs, and clostridium perfringens, which causes gas gangrene.

    Classified US Defense Department documents also seen by the Sunday Herald show that Britain sold Iraq the drug pralidoxine, an antidote to nerve gas, in March 1992, after the end of the Gulf war. Pralidoxine can be reverse engineered to create nerve gas.

    The Senate committee’s reports on ‘US Chemical and Biological Warfare-Related Dual-Use Exports to Iraq’, undertaken in 1992 in the wake of the Gulf war, give the date and destination of all US exports. The reports show, for example, that on May 2, 1986, two batches of bacillus anthracis — the micro-organism that causes anthrax — were shipped to the Iraqi Ministry of Higher Education, along with two batches of the bacterium clostridium botulinum, the agent that causes deadly botulism poisoning.

    One batch each of salmonella and E coli were shipped to the Iraqi State Company for Drug Industries on August 31, 1987. Other shipments went from the US to the Iraq Atomic Energy Commission on July 11, 1988; the Department of Biology at the University of Basrah in November 1989; the Department of Microbiology at Baghdad University in June 1985; the Ministry of Health in April 1985 and Officers’ City, a military complex in Baghdad, in March and April 1986.

    The shipments to Iraq went on even after Saddam Hussein ordered the gassing of the Kurdish town of Halabja, in which at least 5000 men, women and children died. The atrocity, which shocked the world, took place in March 1988, but a month later the components and materials of weapons of mass destruction were continuing to arrive in Baghdad from the US.

    The Senate report also makes clear that: ‘The United States provided the government of Iraq with ‘dual use’ licensed materials which assisted in the development of Iraqi chemical, biological and missile-system programs.’This assistance, according to the report, included ‘chemical warfare-agent precursors, chemical warfare-agent production facility plans and technical drawings, chemical warfare filling equipment, biological warfare-related materials, missile fabrication equipment and missile system guidance equipment’.

    Donald Riegle, then chairman of the committee, said: ‘UN inspectors had identified many United States manufactured items that had been exported from the United States to Iraq under licenses issued by the Department of Commerce, and [established] that these items were used to further Iraq’s chemical and nuclear weapons development and its missile delivery system development programs.’

    Riegle added that, between January 1985 and August 1990, the ‘executive branch of our government approved 771 different export licenses for sale of dual-use technology to Iraq. I think that is a devastating record’.

    It is thought the information contained in the Senate committee reports is likely to make up much of the ‘evidence of proof’ that Bush and Blair will reveal in the coming days to justify the US and Britain going to war with Iraq. It is unlikely, however, that the two leaders will admit it was the Western powers that armed Saddam with these weapons of mass destruction.

    However, Bush and Blair will also have to prove that Saddam still has chemical, biological and nuclear capabilities. This looks like a difficult case to clinch in view of the fact that Scott Ritter, the UN’s former chief weapons inspector in Iraq, says the United Nations destroyed most of Iraq’s weapons of mass destruction and doubts that Saddam could have rebuilt his stocks by now.

    According to Ritter, between 90% and 95% of Iraq’s weapons of mass destruction were des troyed by the UN. He believes the remainder were probably used or destroyed during ‘the ravages of the Gulf War’.

    Ritter has described himself as a ‘card-carrying Republican’ who voted for George W Bush. Nevertheless, he has called the president a ‘liar’ over his claims that Saddam Hussein is a threat to America.

    Ritter has also alleged that the manufacture of chemical and biological weapons emits certain gases, which would have been detected by satellite. ‘We have seen none of this,’ he insists. ‘If Iraq was producing weapons today, we would have definitive proof.’

    He also dismisses claims that Iraq may have a nuclear weapons capacity or be on the verge of attaining one, saying that gamma-particle atomic radiation from the radioactive materials in the warheads would also have been detected by western surveillance.

    The UN’s former co-ordinator in Iraq and former UN under-secretary general, Count Hans von Sponeck, has also told the Sunday Herald that he believes the West is lying about Iraq’s weapons program.

    Von Sponeck visited the Al-Dora and Faluja factories near Baghdad in 1999 after they were ‘comprehensively trashed’ on the orders of UN inspectors, on the grounds that they were suspected of being chemical weapons plants. He returned to the site late in July this year, with a German TV crew, and said both plants were still wrecked.

    ‘We filmed the evidence of the dishonesty of the claims that they were producing chemical and biological weapons,’ von Sponeck has told the Sunday Herald. ‘They are indeed in the same destroyed state which we witnessed in 1999. There was no trace of any resumed activity at all.’


November 23, 2011 Posted by | GeoPolitics, History, Satire | , , , , , , , , , | Comments Off on Bill Hicks (Humor): US Supplied Iraq with WMDs in The 1980-1990s (Hilarious)!

Pimco’s El-Erian Says U.S. Economic Setting ‘Terrifying’!

  • The world is heading towards a global economic, financial and monetary meltdown. It is pretty obvious now except to the delusional !

    Pimco’s El-Erian Says U.S. Economic Setting ‘Terrifying’ !
    By Cordell Eddings and Betty Liu, 
    Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian said U.S. economic conditions are “terrifying” as the nation struggles to recover from recession.

    The odds of the U.S. returning to recession are as high as 50 percent, El-Erian said during an interview on Bloomberg Television’s “In the Loop”  with Betty Liu. U.S. economic growth was worse than expected and congressional policy makers are gridlocked over what to do about the economy and the deficit, which risk exacerbating an already weak recovery, he said.

    “We have less economic momentum than we thought we had and we have no policy momentum,” said El-Erian, who also serves as co-chief investment officer with Pimco founder Bill Gross at the world’s largest manager of bond funds.

    “What’s most terrifying,” he said, “we are having this discussion about the risk of recession at a time when unemployment is already too high, at a time when a quarter of homeowners are underwater on their mortgages, at a time then the fiscal deficit is at 9 percent and at a time when interest ratesare at zero.”

    The economy in the U.S. expanded less than previously estimated in the third quarter, reflecting a drop in inventories that points to a pickup in growth as 2011 comes to a close.

    … for more click here!


November 23, 2011 Posted by | Economics | , , , , , , , | Comments Off on Pimco’s El-Erian Says U.S. Economic Setting ‘Terrifying’!

Karl Denninger: Here You Go – It’s Over !!


  • The trust is broken over the MF Global debacle! When your money is not safe in your own segregated account in the hands of financial institutions, it is time to say goodbye to all financial institutions! Got physical gold yet?

    Here You Go: It’s Over ! 
     Karl Denninger Market Ticker
    We’re done folks. CNBC is reporting that there are now clients running out of the markets entirely because they do not believe their customer funds are safe.

      That’s the end of it. The belief that there are more MF Globals has now taken hold. The thieves have pushed it too far and now we’ve got the start of a global liquidity run, and with good reason.

    The authorities both in the regulatory side and on the prosecutorial side have refused to put a stop to the thievery and now the risk factors have turned into realized risk.

    The market is done folks. You can be right but if you make your bet in the markets, are right, and then get screwed anyway when someone steals the money and nobody goes to jail there comes a time when people begin to understand that it can happen to them and will unless they depart the market.

    We’re there folks.

      Oh sure, there will be rallies and there will be selloffs. But there is no longer a market, there is no longer a thing to trade, and there is no longer a reason to believe that superior analysis will lead to profit or even safety.

    This isn’t just about speculators – it is also about farmers, shippers, airlines, manufacturing concerns, everyone in business who has a need to hedge.More than four years ago I said that the government had to step in and demand that both off-balance sheet games be ended permanently and in all forms and that all derivatives had to be put on an exchange, without exception, and that every dollar of underwater position had to be backed by an actual dollar of capital in real money, held and known to be safe.

    The regulators refused and now it appears that what was put up on a regulated exchange was effectively stolen.

    Well folks, then none of your investment accounts — not your IRA, 401k, not even your bank account — is safe.

    Diversification is a strategy but the risk remains. It is up to you to decide how much you’re willing to risk losing to a crook. If the answer is “none” or you cannot reduce the at-risk portion of your assets to what you’re willing to lose to fraud then you can no longer participate in the market at all, in any form, nor even do business with a bank.

    That sucks, but it is what it is and if this meme spreads — and it will until it’s stopped — we run the risk of a “sudden stop” economic event.

    I hope you’re ready for it — I am to the best of my ability, and you ought to be.


November 23, 2011 Posted by | Economics | , , , , , , | Comments Off on Karl Denninger: Here You Go – It’s Over !!

Investors Dash for Cash as Eurozone Implodes!

  • The sheeple are gradually waking up. The smart money has already left the Eurozone. The endgame is the debasement of all fiat currencies. People fleeing to the supposed safety of the USD and US treasuries need to have their heads examined. The final move is a collapse of both the USD and US treasuries with a corresponding spectacular rise in the price of gold ! Got physical gold yet?

    Investors dash for cash as eurozone implodes!

    By , 
    Cash is the best-selling investment sector for October as investors shun stock   markets. Cash saw the largest inflows of all the investment sectors last month, as fear over the eurozone crisis caused cautious investors to shun the stock market.

    Online investment platform Fidelity Fundsnetwork revealed that its best selling sector for the month of October was the UK Money Market and the best selling fund its own Cash fund. More than £26.7m was put into cash last month – with investors sheltering £12.9m directly through the platform. The second most popular sector was the Cautious Managed sector, revealing that even those investors actively investing are cautious.

    Of the £26m invested in the Cautious Managed sector, £25m was invested by   financial advisers. Investors put £11.2m into the Cash fund in October, which spreads investors’ cash across a range of deposit accounts from developed market banks and financial institutions. It has returned just 0.3pc over the past 12 months, though has an annualised return since launch of 3.34pc.

    … for more click here! 


November 23, 2011 Posted by | Economics | , , , , | Comments Off on Investors Dash for Cash as Eurozone Implodes!

Austria, Belgian Bonds Crushed !

Contagion has spread to Austria & Belgium!

  • Both Austria and Belgium are not part of the PIIGS. But they are badly affected now! This is not going away any time soon. It will get alot worse and ultimately collapse the Eurozone. The Euro is toast!

    Austria, Belgian Bonds Crushed !
    by Tyler Durden,
    Yesterday we posted a note on Austria, titled “35 Seconds Of TV Air Time Explaining Why Austria’s AAA Rating Is Doomed” which among other things demonstrated in very vivid fashion, why courtesy of its massive Hungarian and broadly Eastern European exposure, an Austrian downgrade is virtually imminent. The follow up news that the Austrian Central Bank has henceforth forbidden any incremental Eastern European loan issuance is merely the cherry on top, and confirms that Austria’s biggest banks are now on the verge. As the chart below demonstrates which shows Austria benchmarks (which like Spain we expect will be promptly changed to a lower yielding piece to buy 1-2 days of breathing room), the hammering has returned. And elsewhere, Belgium is also getting annihilated as the ECB is now left with far too many plates to juggle.


November 23, 2011 Posted by | Economics | , , , , , | Comments Off on Austria, Belgian Bonds Crushed !

France’s AAA Status in Tatters as Yields Surge!

How long can the French debt edifice keep standing upright?Graphic source:

  • France one of the 2 engines of the Eurozone is now infected. It is a matter of time before the contagion spreads to Germany! The Eurozone is coming down!

    France’s AAA Status in Tatters as Yields Surge!
    By Mark Deen and Paul Dobson, 
    Investors aren’t waiting for Standard & Poor’s or Moody’s Investors Service to strip France, Europe’s second-biggest economy, of its top credit rating. The extra yield demanded to lend to AAA rated France for 10 years was 158 basis points more than the German rate at 11:51 a.m. today. The gap was 200 basis points on Nov. 17, the widest spread since 1990, up from 28 in April. The French 10-year yield was at 3.5 percent, about midway between top-rated Holland and Belgium, which is graded one level lower at Aa1 by Moody’s. French borrowing costs are more than a percentage point above the AAA rated U.K.

    “France isn’t trading like a AAA,” said Bill Blain, a strategist at Newedge Group in London, who recommends buying U.K. government debt. “The market has made its judgment already.”

    The debt crisis that began more than two years ago in Greece and snared Ireland, Portugal, Italy and Spain is close to reaching France. Moody’s said in a report published yesterday that any persistent increase in borrowing costs would amplify the French government’s challenges as economic growth slows.

    President Nicolas Sarkozy has unveiled two sets of budget cuts since August to preserve the credit rating and try to calm jittery markets. Two-year yields on French debt have climbed 55 basis points since Aug. 31 to 1.67 percent, while the rate on German notes of similar maturity fell 30 points to 0.42 percent.

    “The market is concerned about the dissolution of the euro itself, hence only bunds are acting as a safe haven,” said Richard McGuire, a fixed-income strategist at Rabo Bank International in London. Germany is the region’s largest nation.

    Credit Suisse
    French 10-year bond yields may climb above 5 percent, analysts at Credit Suisse Group AG said in a note to investors yesterday. Euro leaders must reach “a momentous deal” for fiscal and political union by mid-January to save the 17-nation bloc, Credit Suisse said in the report.

    Yield spreads have widened for the other AAA rated euro-zone countries — Austria, Finland, the Netherlands and Luxembourg — bringing the crisis from the periphery to the so-called core.

    France has the biggest debt burden of the top-rated euro nations, at 85 percent of gross domestic product. Its financial institutions also have the largest debt holdings in the five crisis-hit countries, at 681 billion euros ($921 billion) as of June, according to data from the Bank for International Settlements in Basel.

    “France is not a AAA at all,” said Nicola Marinelli, who oversees $150 million at Glendevon King Asset Management in London. “French banks are very exposed to euro-zone periphery. If they were to mark to market these loans at current levels, there would be huge losses.”

    … for more click here!


November 23, 2011 Posted by | Economics | , , , , , , , , | Comments Off on France’s AAA Status in Tatters as Yields Surge!

Spanish Bond Yields Surge After Debt Auction!

Need I say more?

  • Things are getting progressively worse. It is a matter of time before the plug is pulled and the whole Eurozone debt edifice comes tumbling down. Contagion will spread worldwide. Got physical gold yet?

    Spanish bond yields surge after debt auction! 
    By Emelia Sithole-Matarise, Reuters
    Spain’s borrowing costs surged at an auction of short-term debt today, keeping investors on edge and pushing up yields on peripheral eurozone government bonds on scant signs of political initiatives to tackle the debt crisis.

    Spain paid the highest interest in 14 years to sell short-term debt in an auction seen as a test of investor sentiment after the centre-right Popular Party won an election on Sunday, with the average yield on a three-month bill more than doubling to just over 5pc from almost 2.3pc a month earlier. The treasury sold €2.98 billion in 3- and 6-month bills.

    Fitch Ratings said the new government must surprise markets with a radical fiscal and structural reform programme if it is to improve expectations of its capacity to grow and cut debt within the confines of the eurozone.

    “It doesn’t look great, the continuing trend towards ever higher yields to get anything done, it has to be concerning,” said Gary Jenkins, head of fixed income at Evolution Securities.

    Spanish 10-year bond yields were up five basis points on the day at 6.64pc and five-year paper yielded 6.11pc, up 15 bps. The 10-year yield was just 13 bps from converging with that of Italy. Some strategists expect it to go back to trading at a premium over Italian debt as investors assess the new Spanish  government’s commitment to an austerity programme.

    “Underlying sentiment remains negative for the periphery and positive for German Bunds because of the ongoing lack of a political solution to the problems in Europe,” RIA Capital Markets strategist Nick Stamenkovic said.

    … for more click here!


November 23, 2011 Posted by | Economics | , , , , , , , , | Comments Off on Spanish Bond Yields Surge After Debt Auction!

Lindsey Williams: The Elite’s Plan for 2012 !

November 23, 2011 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , | Comments Off on Lindsey Williams: The Elite’s Plan for 2012 !

ABC News Bias Against Ron Paul Exposed by Peter Schiff !

Vote Ron Paul for President!

November 23, 2011 Posted by | GeoPolitics | , , , | Comments Off on ABC News Bias Against Ron Paul Exposed by Peter Schiff !

Bob Chapman: Germany Have Lost Its Sovereignty To International Banksters!

  • Bob Chapman on Radio Liberty  3rd Hour – 21 Nov 2011 explains that Germany will give up its sovereignty to international bodies ,the elite will never lose the opportunity of a crisis to pass their agenda the Euro will continue to deteriorate , The PIIGS nations will accept the diktat from the bureaucrats in Brussels , out of chaos here comes the NWO Bob Chapman and Dr. Stan explain, Europe is under the bankers and the bureaucrats occupation the Europeans have lost their sovereignty they can no more decide their fiscal policies just like the Americans with the Federal Reserve …..


November 23, 2011 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , | Comments Off on Bob Chapman: Germany Have Lost Its Sovereignty To International Banksters!

Keiser Report: Big Bad Banks!

November 23, 2011 Posted by | Economics | , , , , , , , , , , | Comments Off on Keiser Report: Big Bad Banks!

Proof that Colin Powell And Condoleeza Rice Lied About WMD on Iraq!

  • Famous Freemasons:

    Political Leaders USA   (or here)
    Bill Clinton, Senior Demolay (Masonic youth group)
    Newt Gingrich, 33rd Degree Freemason
    Bob Dole, 33rd Degree Freemason
    Jack Kemp, 33rd Degree Freemason
    Storm Thurmond, 33rd Degree Freemason
    Colin Powell, 33rd Degree Freemason, U.S. Secretary of State
    Jesse Helms, 33rd Degree Freemason
    Barry Goldwater, 33rd Degree Freemason
    Al Gore, Freemason …..


November 23, 2011 Posted by | GeoPolitics | , , , , , , , | Comments Off on Proof that Colin Powell And Condoleeza Rice Lied About WMD on Iraq!

US Invokes New Sanctions Against Iran, Syria Next?

  • The western Illuminati is laying the groundwork for the Satanic World War 3. War is simply a diversion from the economic collapse. It is their method of mass culling of the sheeple so as to maintain and increase their power base.


November 23, 2011 Posted by | GeoPolitics | , , , , , , , , , , | Comments Off on US Invokes New Sanctions Against Iran, Syria Next?

Mike Gravel: “Netanyahu is a Liar” !

  • Satanic World War 3 Plan
    The Third World War must be fomented by taking advantage of the differences caused by the “agentur” of the “Illuminati” between the political Zionists and the leaders of Islamic World. The war must be conducted in such a way that Islam (the Moslem Arabic World) and political Zionism (the State of Israel) mutually destroy each other. ….
  • The fact of the matter is, his last name is not Netanyahu. It is Mileikowsky. He is Ashkenazi and his ancestors were never in Palestine. He is not of the 12 tribes of Israel ie not the biological descendents of the 12 tribes of Israel. His father :

    Benzion Netanyahu (Hebrew: בנציון נתניהו; born Benzion Mileikowsky; March 25, 1910)[2][3] is an Israeli historian and a professor emeritus at Cornell University. He is a specialist in the golden age of Jewish History in Spain, and is known for his opus, the Origins of the Inquisition in Fifteenth Century Spain. He was secretary to Ze’ev Jabotinsky, “the father of Revisionist Zionism“, and was a Revisionist leader of the Zionist Movement in the United States. His three sons are

    Yonatan Netanyahu, former commander of Sayeret Matkal, who was killed in action leading the Entebbe hostage rescue.
    Benjamin Netanyahu, Israeli Prime Minister (1996–99, 2009–present).
    Iddo Netanyahu, a radiologist and writer.
  • Benjamin Netanyahu like many of his predecessors is a Freemason! Texe Marrs:

    Former Prime Minister Benjamin Netanyahu has publicly stated (see the Israeli publication Shishi, Spring 1994) that he was initiated into the Masonic Lodge while in the United States. The La Republica newspaper stated that Prime Minister Yitzak Rabin was active in Masonry and estimated there are 4,000 Israeli Freemasons, divided into 76 lodges. Most Israeli judges and religious figures are Masons. Rothschild-supported Hebrew University in Israel has erected an Egyptian obelisk, symbol of Freemasonry, in its courtyard, and inside the new Israeli Supreme Court building is a law library architecturally designed in the shape of an Egyptian pyramid.
  • Quotes on FreeMasonry:

    “To you, Sovereign Grand Inspectors General (of the 33rd degree), we say this, that you may repeat it to the brethren of the 32nd , 31st and 30th degrees – The Masonic Religion should be, by all of us initiates of the high degrees, maintained in the purity of the Luciferian doctrine.  … Yes, Lucifer is God … “
    Albert Pike, Morals and Dogma of the Ancient and Accepted Scottish Rite of Freemasonry in 1871 (blasphemy)

    One of the unheralded and least known facts about Freemasonry and the Masonic Lodge is its Jewish origins and nature. The religion of Judaism, based on the Babylonian Talmud, and the Jewish Cabala (or, Kabala), an alchemical system of magic and deviltry, form the basis for the Scottish Rite’s 33 ritual degree ceremonies.

    – Freemasonry is Jewish Magic, Texe Marrs

    “Masonry is based on Judaism. Eliminate the teachings of Judaism from the Masonic Ritual and what is left?”
    Jewish Tribune of New York, on October 28, 1927

    “Freemasonry is a Jewish establishment, whose history, grades, official appointments, passwords, and explanations are Jewish from beginning to end.”
    – Rabbi Isaac Wise

Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.


November 23, 2011 Posted by | GeoPolitics | , , , , , , | Comments Off on Mike Gravel: “Netanyahu is a Liar” !