Socio-Economics History Blog

Socio-Economics & History Commentary

Paul Craig Roberts: Markets Fall When Dollar Falls. Looming Catastrophe Hanging Over Our Heads

  • Paul Craig Roberts: Markets Fall When Dollar Falls. Looming Catastrophe Hanging Over Our Heads
    by Greg Hunter’s USAWatchdog.com
    Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on “phony profits” that come from global central banks “propping up” the financial system. Roberts says, “Any of these central banks are really only there for a handful of big banks. That’s all they are concerned with. All the Federal Reserve has been concerned with for the last decade is the welfare of a handful of mega banks. Of course, the banks are too large. They should have never been allowed to get that large. When you have a bank too big to fail, then your policy has failed. You’ve allowed too much concentration. Where is anti-trust? Where is the Sherman Act? Everything that was legislated in the past to prevent the kind of looming catastrophe that is hanging over our heads, this looming catastrophe is produced by central banks. They are perpetuating it because they don’t know how to get out of it.”


    The International Monetary Fund (IMF) has just warned on the profitability of nine huge global banks. Some say they equal nine possible Lehman Brothers, which was the financial institution that started the 2008 meltdown. Is the IMF terrified of the slightest correction in the markets? Dr. Roberts says, “I think so, yes, because it’s not based on reality. It’s based on massive liquidity. So, it’s full of all kinds of dangers.”

    The biggest danger to Dr. Roberts, who has a PhD in economics, is the U.S. dollar. Dr. Roberts contends, “It seems to me that the only thing that would cause the Federal Reserve to stop the liquidity would be if the U.S. dollar fell under attack. If for some reason people said, hey, we don’t want the dollar anymore, and they started moving out of dollars into other currencies or into something else, if they cease to hold assets in dollars, if that happened, the Fed would have to try to raise interest rates to support the dollar. Then you could see that everything could come apart. If the interest rates would go up, there would be all kinds of derivatives that would not be sustainable. The stock market would collapse. It would be a mess. It would be an utter mess. That’s what the IMF is worried about. It’s a messy situation. How do you get out of it?”

    How does Dr. Roberts say people should protect themselves? Dr. Roberts says, “I would not be in debt.”

end

October 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Breaking: China Moves To Kill The Petrodollar, Tells Saudi Arabia — China Will Pay For Oil In Yuan-Gold

  • The Alex Jones Channel Published on Oct 18, 2017
    China is making its move against America, not with military force but by trying to destroy the US economy.

end

October 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Did Russia Just Issue A New Eurasian Currency?

  • X22Report Published on Oct 18, 2017
    Tens of millions of Americans have not recovered from the last crisis. IBM sales drop for 22 months in a row. Housing starts plummet as the housing market implodes on itself.  Mnuchin pushes agenda and says if you do not do what we want we will crash the economy. Warning inflation and a market correction might be headed our way very soon. The corporate media and government are pushing this idea. Russia just introduced a new currency, this new currency will most likely be used for the Eurasian countries.

end

October 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Friday The Thirteenth Golden Jackass Jim Willie

https://ochelli.com/wp-content/uploads/2017/10/The-Ochelli-Effect-2017-10-13.mp3

Click on image for MP3 audio interview.

  • Friday The Thirteenth Golden Jackass
    by https://ochelli.com/
    The Ochelli Effect 10-13-2017 Jim Willie The man behind The “Hat Trick Newsletter” @  goldenjackass.com .Plus producer Tony Hurst has an unscripted conversation with Chuck in the second hour

    Hour 1 we break down money , Gold , Oil , and the U.S. Military Industrial Complex along with a few unusual subjects with the uniquely talented Jim Willie from GoldenJackass.com . Jim’s insights into finance ,  global trends , realities and the secret or not-so-secret  world of real deals is one of a kind and the Ochelli Effect is lucky to have Jim appear on a monthly basis. On Friday The Thirteenth Golden Jackass , we hear Jim answer listener questions and explain what happens when China decides to “Flip The Switch” , and what has happened to US Presidents  when they push back against the banking Cabals.

    Second Hour Tony Hursy makes a rare appearance on the show to pick Chuck’s brain a bit about current events , Climate Change , and What In Hell is actually going on in the alleged United States. The future of the show is addressed and Tony’s priceless contribution to show , website and Chuck’s basic knowledge are discussed. Also , What was that noise at the second hour break?

end

October 16, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

A Tsunami of Finance: German Expert Warns of Imminent Collapse of ‘World Casino’

  • A Tsunami of Finance: German Expert Warns of Imminent Collapse of ‘World Casino’
    by https://sputniknews.com/
    Financial expert Ernst Wolff gives Sputnik a taster of his new book, which warns that dependence on the financial industry and the US dollar has created a “financial tsunami,” the consequences of which the world is wholly unprepared for.

    Financial expert Ernst Wolff, author of a bestselling analysis of the International Monetary Fund‘s “modern day crusade against the working people on five continents,” has turned his attention to the global financial system in his latest book.

    Wolff sees the financial system at risk of imminent collapse and likens it to a “Financial Tsunami” which threatens to take us all by surprise, leaving devastation in its wake.

    In a taster of the book’s contents, he told Sputnik Deutschland that the US-based financial industry has been on “life support” since the 2008 crisis and its prognosis “doesn’t look good.”

    “The patient is about 75 years old. Our financial system was founded in in Bretton Woods, USA in 1944. The patient is in great difficulty because in 1998 and a second time in 2007/2008, he almost died. Since this second crisis, he has only been kept alive artificially. The financial system is lying in the intensive care unit.”

    While most countries have a state central bank, US monetary policy is conducted by the Federal Reserve, a consortium of 12 regional banks in which commercial banks own shares. Wolff describes the system as a “cartel.”

    “One not only gives a patient a diagnosis, but also a case history. First, we need to understand the power of the Federal Reserve, the American central bank which was established a hundred years ago. Many people still don’t know that the Federal Reserve is not a state institution, but is in private hands. This is a bank cartel which lies in the hands of several large, very rich families. This fact has been covered up in the course of history.”

    read more.

http://www.wnd.com/2008/03/59405/

Click on image for article.

end

October 16, 2017 Posted by | Economics, GeoPolitics, History | , , , , , , , , , , , , , | Leave a comment

Willem Middelkoop: Any Sunday Night Now And Gold Could Be Revalued Up To $10,000

Click on image to download MP3 interview.

  • Willem Middelkoop: Any Sunday Night Now And Gold Could Be Revalued Up To $10,000
    by https://www.silverdoctors.com/
    Once the physical market breaks, there will be a quick revaluation of gold towards even $10,000. Here’s two ways Willem says it can play out…

    Willem Middelkoop interviewed by Craig Hemke on TF Metals Report
    Willem Middelkoop is an Amsterdam-based author and commodity fund manager. Somehow it had been over a year since we last spoke with Willem so we had plenty to discuss today. Please be sure to give this podcast a listen. Among the topics addressed in this 49-minute call:

    * the current similarities to the run-up to The Financial Crisis in 2008
    * how the falling dollar is impacting commodities
    * why China values physical gold and the likelihood of a global reset in price
    * which commodities or metals might benefit from the changes described in his new book, “The Tesla Revolution
    * the future of the euro and the possibility of it challenging the US dollar as global reserve currency
    * Willem’s interest and opinion on the Australian mining sector, specifically Artemis and Novo Resources
    * And a whole lot more!

    I’m confident you’ll find this audio to be interesting and very helpful. Thanks again to Willem for sharing his time and expertise.

    TF
    Willem Middelkoop is an author and founder of the Commodity Discovery Fund. He became a well-known personality through his work as stock market commentator for the Dutch business television channel RTLZ. Middelkoop predicted the onset of the credit crisis in his book “Als de dollar valt” (If The Dollar Falls) – 2007. Subsequent publications were “De permanente oliecrisis” (The permanent oil crisis) – 2008, “Overleef de kredietcrisis” (Surviving the credit crisis) – 2009, “Goud en het geheim van geld” (Gold and the secret of money) – 2012, The Big Reset – 2013 and The Tesla Revolution – 2017. In total, he has sold more than 150,000 copies of his books.

end

October 16, 2017 Posted by | Economics | , , , , , , , , , , | Leave a comment

End of Petrodollar: Rise of Economic Protectionism to Reshape Global Trade

  • End of Petrodollar: Rise of Economic Protectionism to Reshape Global Trade
    by https://sputniknews.com/
    The era of petrodollar recycling is drawing to an end as shifts in technology and international politics render it redundant, meaning the US is entering volatile times.

    Kristian Rouz — The rise of economic protectionism and nationalism in politics of the recent years, including the gradual implementation of US President Donald Trump’s agenda and Brexit reshaping the contours of European trade, are poised to bring an end to the petrodollar recycling. These developments signal the first overhaul of international economic relations since the Nixon administration in the early 1970s in the United States.

    The petrodollar system entailed the end of the gold standard in the US, which had its national currency pegged to the value of gold at $35 per ounce in the aftermath of World War II. However, the severe challenges that global economy faced in the late 1960s pushed the administration of Richard Milhous Nixon to abandon the system.

    “The essence of the deal was that the US would agree to military sales and defense of Saudi Arabia in return for all oil trade being denominated in US dollars,” The Huffington Post explains.

    The shale revolution in oil productionin the early 2010s rendered this system irrelevant in the US, as North America is becoming increasingly independent of crude oil imports and has, in fact, increased its own oil and petrochemical exports under President Trump.

    However, President Trump’s push for greater protectionism faces obstacles, mainly in the form of a significant Saudi investment in US Treasury bonds accrued over the past 40 years. The petrodollar system has allowed Saudi Arabia to increase its foreign reserves, and many other prominent oil-producing nations have followed the same foreign investment pattern.

    The US, on its part, was able to increase its money supply by printing dollars, which has produced major dollar devaluation, by over 30 percent since the early 1980s. Subsequently, other oil importers, in order to pay for energy, had to buy US dollars first.

    read more.

end

October 16, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Russia And China Just Did Something That Will Be A Blow To The Dollar

  • X22Report Published on Oct 13, 2017
    The Fed has done it, it has made the people of the US believe the economy has recovered and everything is going to be just fine, this is when the crash the economy. Wells Fargo mortgage and auto loan origination declines rapidly. British bank forecasts a credit collapse coming very soon. China and Russia just setup a Yuan-Ruble payment system which is a blow to the dollar. 

end

October 16, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

De-Dollarization Continues, More Countries Pivot Away From The Dollar

  • X22Report Published on Oct 10, 2017
    Russia’s central bank is trying to stop cryptocurrencies. London housing prices are falling, the bubble is popping. In NY the commercial real estate and residential real estate is falling apart, foreclosures are way up, back to 2009 levels. The IMF is trying to convince the world that the economy is fully recovered, but buried deep in the report it says the recovery cannot be sustained. More countries move away from the dollar, Turkey and Iran decide to trade in their local currencies.

end

October 13, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Leave a comment

Rob Kirby: Could Be Just Days Or Weeks Until The Collapse Of The Petrodollar

  • Rob Kirby: Could Be Just Days Or Weeks Until The Collapse Of The Petrodollar
    by https://www.silverdoctors.com/
    Rob Kirby says that the system won’t stay afloat much longer as the petrodollar is failing. We could be just days to weeks away. Here’s why…

    Rob Kirby interviewed by Silver Doctors
    Also, Kirby discusses Catalonia’s movement towards independence. “The vote to become independent in Catalonia is symptomatic of a growing desire of peoples around the world to reject the forces of globalism,” Kirby says. He continues that now this anti-globalism movement is unstoppable. And Kirby answers viewers questions covering the following topics:

    – Pensions will suffer “apocalypse.”
    – Paying off debt vs. prepping for crisis
    – How much gold and silver to own
    – The petrodollar will collapse within months
    – Demand for physical metal will overwhelm price manipulation
    – Cryptocurrencies vs. fiat currencies

end

October 12, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

Jim Willie: 58 Recent Global Shifts That Are QUICKENING The Death Of King Dollar

  • Jim Willie: 58 Recent Global Shifts That Are QUICKENING The Death Of King Dollar
    by Jim Willie the Golden Jackass , via https://www.silverdoctors.com/
    Many are the turning points with individual nations, once firmly in the Western alliance camp, but no longer. They are flipping eastward or in the case of China cutting the major cords. The Shanghai developments are by far the most important in the financial setting. The Petro-Dollar is seeing its last months after a 43-year reign as defacto standard. Its retirement will begin in the East, then spread to the decaying loyal Western nations. The entire geopolitical chessboard is becoming more aligned with the Eurasian Trade Zone, one nation after another. Its cornerstones are Russia, China, and increasingly Iran. It has gathered some Eastern European countries like Turkey, and will gather more. It has pursued the Middle East oil monarchies, and will succeed in lassoing them into the zone corral. Whether they deploy financial connections, or trade ties, or security links, these nations no longer see the United States and British (who walk the American dog with a monetary leash) as the leading global players any longer. The leaders are China with its financial and industrial might and Russia with its energy and commodity strength.

    As the global structure shifts in alignment, many nations will be involved in the shifts directly. It can be perceived as chess pieces in movement. The many bilateral connections are being altered, so as to fit within the new forces. The power center is moving from West to East, although certainly very slowly. Some call it a giant ship changing course, but the Jackass thinks of it more as a very large baby being formed with numerous umbilical cords, which requires a very long gestation period like that for an elephant. The Eastern centers must remove the vestiges of old colonial power links. It is a very slow process, whereby the East must accept losses from the uprooted stanchions. The Eastern leaders measure their risks, make the changes, and consider the losses as part of a reorganization much like done with the better observed structural changes done by IBM or Chrysler.

    Walls on all continents are seeing more clear graffiti. The writing is on the walls for the King Dollar first relinquishing its dominant position, then soon permitting a peaceful coexistence with the Chinese RMB, and later suffering the ignominy of gradual more complete removal as global currency reserve. Expect next to see a wider recognition of the Dual Universe, with the USD pitted against the RMB but without war. The current challenges are numerous, significant, and undeniable. The following nations are central to the global paradigm shift in progress. Cited are some key events in the shift. They have two themes in common, energy pacts and financial flight from the King Dollar. The more full description with effects, angles, and players is included in the October Hat Trick Letter, now in the production phase.

    read more.

end

October 12, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Buried In The Fed’s Report It Reveals The Truth About The Economy: Charles Hugh Smith

October 10, 2017 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

The Central Banks Are Transitioning The World Away From The Dollar: James Rickards

http://www.newdawnmagazine.com/Article/A_Global_Central_Bank_Global_Currency_World_Government.html

Click on image for article.

http://www.thenewamerican.com/world-news/europe/item/8864-vatican-council-calls-for-world-government-central-bank

Click on image for article.

http://americanfreepress.net/?p=1263

Click on image to goto article.

October 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | Leave a comment

Petrodollar Collapse Alert: Russia and Saudi Arabia ‘Sign $3 Billion Arms Deal’ – Jerry Robinson

  • Follow the Money Published on Oct 6, 2017
    In this brief audio clip, Christian economist Jerry Robinson shares his insights into the warming of ties between Saudi Arabia and Russia and explains what it could mean to the failing petrodollar system. Read more about the petrodollar system here… http://ftmdaily.com/petrodollar

    Russian President Vladimir Putin hosted Saudi Arabia’s King Salman for talks at the Kremlin on Thursday, cementing a relationship that is pivotal for world oil prices and could decide the outcome of the conflict in Syria. King Salman, the first sitting Saudi monarch ever to visit Russia, led a delegation to Moscow that agreed joint investment deals worth several billion dollars, providing much-needed investment for a Russian economy battered by low oil prices and Western sanctions. Saudi Arabia said it had signed a memorandum of understanding on the purchase from Russia of S-400 air defense systems. That marked a shift for the kingdom, which buys most of its military kit from the United States and Britain.

end

October 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment

Saudia Arabia Pivots Towards Russia And Away From The US

  • X22Report Published on Oct 6, 2017
    Spanish courts are trying to block the Catalan independence vote. Russia and Saudi leaders meet and agree on a oil deal and a weapons deal. Saudi Arabia is pivoting away from the US and towards Russia. US troops can now fire in Afghanistan. North Korea keeps shouting about war, but they are not making any preparations. The IS and Site Intelligence are pushing the idea that Paddock was radicalized. Was Stephen Paddock working with the intelligence agencies. Julian Assange  says most terror plots are orchestrated by the FBI.

end

October 7, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | Leave a comment