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Socio-Economics & History Commentary

The Western Financial System Teeters on the Brink — Only a New Bretton Woods Agreement Among the Four Powers Can Prevent Chaos

  • The Western Financial System Teeters on the Brink — Only a New Bretton Woods Agreement Among the Four Powers Can Prevent Chaos
    by https://larouchepac.com/
    The Western monetary system is hanging by a thread. The immediate panic in Turkey, Argentina and elsewhere eased slightly today, but the problem is not localized to one or more crisis points — it is systemic, the result of the past ten years’ refusal to change the policies which caused the 2008 breakdown. When Wall Street exploded in 2008, Bush and Obama showed their colors — the red, white and blue of the Union Jack, not the U.S. flag — refusing to implement Lyndon LaRouche’s call for restoring FDR’s Glass Steagall Act, while enacting laws which encouraged a full return of the derivative speculation at the expense of the real economy. This led to the revolt of the population expressed in the election of Donald Trump, who pledged to restore the US industrial economy and end the perpetual imperial warfare.

    Now, however, as LaRouche insisted after the 2008 crash, Glass Steagall alone will not do the job. Nothing short of an entirely new world financial order can succeed in replacing the “Casino Mondial” of floating exchange rates and unbridled speculation, which has taken the place of investment into the real economy, with the IMF and the ECB as the “enforcement” mechanism. Such a New Bretton Woods approach is required, restoring fixed exchange rates in a gold reserve system, while “New Silk Road” projects based on national credit expand the productivity and well being of the entire human race.

    Achieving such a new paradigm requires that Donald Trump sit down with the leaders of the other three great powers in the world — Russia, China and India — to formulate such a new Bretton Woods agreement. This was LaRouche’s insight in 2009, that only these four powers acting in tandem would have the power to replace the British Empire with a new financial system among sovereign nations based on real development. This vision was confirmed at the historic BRICS Summit in South Africa last month, where Russia, China and India dedicated themselves to extending the spirit and function of the New Silk Road to all of Africa and the so-called developing sector.

    Trump has declared, repeatedly, that Xi Jinping, Vladimir Putin and Narendra Modi are friends, despite the massive effort by the British and their assets in the U.S. to turn the nation against both Russia and China. Now, the Russiagate scam is exposed and could soon be ended, with the accusers becoming the accused. Trump’s lawyer Rudy Giuliani declared that it is time for Obama’s CIA chief John Brennan to be brought before a Grand Jury for his criminal connivance with British intelligence operative Christopher Steele, who orchestrated the ongoing coup attempt against the government of the United states. Leading Congressmen are now focused on the British intelligence role in the Russiagate coup attempt. This cleansing of the British imperial filth within the U.S. establishment must be successfully completed, immediately, freeing Trump to do what he must, through the Four Power alignment: to create the New Bretton Woods.

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August 18, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | Comments Off on The Western Financial System Teeters on the Brink — Only a New Bretton Woods Agreement Among the Four Powers Can Prevent Chaos

To Prepare For The Transition The US Must Source Gold Or We Fall Into A 3rd World Nation: Jim Willie

  • INTERVIEW WITH DAVE AT X22 REPORT
    by http://goldenjackass.com/main5.html
    August 4th:  topics covered include the growing awareness by the population that something is not right with fake news network stories turned silly with widespread internet and mainstream censorship with a gathering storm in grassroots economic recession which does not match the official government stories (COGNITIVE DISSONANCE WITHIN REICH ECONOMICS), the massive unemployment during vicious recession called all strong positive growth, the bond market expansion with potential forced pension investment in Special USTreasury Bonds, the elite policy changes from the Euro Central Bank in rainy day fund and Bank For Intl Settlements in concealing debt as hidden defense mechanisms against what they might perceive as the emerging Systemic Lehman Event in a global financial crisis during the climax global breakdown underway, as nothing was resolved since 2008 while all major sovereign bonds have turned subprime and many banking systems in ruins, the gradual installation & implementation of the Gold Standard from the many substantial Eastern endeavors, where the United States must source the gold for a new gold-backed currency with the ongoing concurrent risk from the $600 billion trade deficit, which must be eliminated, or else the USA falls into the Third World from the isolation in reaction to overdone desperate sanctions, including to our own US allied nations like Germany.

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August 6, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , | Comments Off on To Prepare For The Transition The US Must Source Gold Or We Fall Into A 3rd World Nation: Jim Willie

Is This Really The Recovery Or Is This The Move To A New System

  • X22Report Published on Jul 31, 2018
    UK household debt is worse than anytime on record. The American intention to purchase a car or a house is declining. Pending homes sales dropped, this falls in line with existing home sales and new home sales, the real estate bubble is popping. Erdogan wants to join BRICS but Turkey was rejected. The BRICS have just created the global development initiative and the US and other nations will need to join. The push to collapse the economy is to move it away from the central banking system and move it into the next system that will bring peace through development.

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August 1, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | 1 Comment

Jim Willie: Global Reset Update

  • INTERVIEW WITH V-GUERRILLA AT ROGUE MONEY
    by http://goldenjackass.com/main5.html
    July 30th:  topic covered include Putin hand-off of 160 terabytes of data to Trump with importance, the unsealed indictments using the OMNIBUS Bill, the trade war with backfires as all foreign policy initiatives since 2001 have failed badly, the Nord Stream 2 project with mindless unworkable USGovt sanctions (British Rolls Royce a turbine supplier), the flip of Germany to the eastern superpowers with trade, the German workaround with major corporations setting up Russian subsidiaries, the rise of Frankfurt as a German-based RMB Hub (competitor to London) to serve the Eurasian Trade Zone, the Turkish role in BRICS for potential gold provision in sovereign bond dumping via conversion, the flip of Japanese to the same Eastern Trade Zone, the energy shortage factor as motive for Japan to turn to Russia in natgas provision, and the general demise of Orwell’s Oceania (aka the Western banker cabal)

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July 31, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Comments Off on Jim Willie: Global Reset Update

The Creation Of A New International Trade Currency Will Damage The Dollar

  • X22Report Published on Apr 24, 2018
    Home prices are now surging, the central bankers have succeeded in creating the bubble of all bubbles. When looking at the data, unemployment is at its lowest point but home buyers are no where to be found. The data shows housing sales are down except out west. Russia purchases more gold and passes China. The BRICS are developing a new international trade currency this will collapse the dollar.

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April 25, 2018 Posted by | Economics | , , , , , , , , , , , , , | Comments Off on The Creation Of A New International Trade Currency Will Damage The Dollar

Russia and China Lay Economic Foundation Based on Golden Rule

Remember the Golden Rule: “He who has the gold Rules!”

  • Russia and China Lay Economic Foundation Based on Golden Rule
    by https://thedailycoin.org/
    One of the many themes we support at The Daily Coin is the constant progress happening across the emerging markets, especially the nations involved the Eastern economic alliances like BRICS, BRI, SCO, EAEU and the like. These nations under the direction of China or Russia or a combination are laying the groundwork to be the driving force of the 21st Century and beyond.

    We also continually report on gold moving from Western vaults to all points East. Most recently we discussed Kazakhstan and the importance of this nation both from a geographical position as well as natural resources like gold, rare earths and a wide variety of other elements within the borders of this growing nation.

    Gold always has our attention as the rules/laws surrounding gold have not changed. While most people, especially in the West, have forgotten these rules that does not mean they have changed or been overturned.

    One law that has stood the test of time is the golden rule – he who has the gold makes the rules. We also like the fact that JPMorgan, the man not the bank, stated in a congressional hearing that “gold is money and everything else is credit”. These two rules/laws working in conjunction with one another make for a formidable alliance. When you have natural rules/laws working together and nations begin forming alliances using these rules/laws as a foundation the rest of the world should take notice, but alias the Western world is more focused on “russia did it” than what Russia is actually doing.

    read more.

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January 3, 2018 Posted by | Economics | , , , , , , , , , , , , | Comments Off on Russia and China Lay Economic Foundation Based on Golden Rule

Russia Suggests Creating Single Virtual Currency for BRICS and EEU

  • Russia Suggests Creating Single Virtual Currency for BRICS and EEU
    by https://www.rt.com/
    An initiative to create a joint digital currency for BRICS countries and the Eurasian Economic Union (EEU) has been proposed by the Central Bank of Russia, according to its First Deputy Governor Olga Skorobogatova.

    She said the issue of a common cryptocurrency for a number of countries is very promising, more than that for a single nation.

    “The participants of different economic events where I usually take part… all come to the conclusion the issue of a virtual currency is not needed much by one country. First of all, it makes sense to discuss the cryptocurrency on the level of several countries such as BRICS and EEU. It makes sense to set one equivalent for all payments,”
     Skorobogatova said at a Russian finance ministry meeting.


    While no concrete decisions have been made yet, said the official, discussions are planned for 2018 by both BRICS and EEU members.

    “The introduction of a national digital currency seems to us not entirely justified from the point of view of macroeconomics, population…”
     said Skorobogatova.


    In September, the chief of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev said the BRICS finance committee was discussing a joint virtual currency for the five-nation bloc of developing economies of Brazil, Russia, India, China and South Africa. He added that within BRICS cryptocurrencies could replace the US dollar and other currencies used in settlements among the member states.

    read more.

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December 29, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Comments Off on Russia Suggests Creating Single Virtual Currency for BRICS and EEU

The Petro-Yuan Bombshell and Its Relation to the New US Security Doctrine

  • The Petro-Yuan Bombshell and Its Relation to the New US Security Doctrine
    by Pepe Escobar, http://russia-insider.com/en
    “Russia and China … have concluded that pumping the US military budget by buying US bonds … is an unsustainable proposition …”

    The new 55-page “America First” National Security Strategy (NSS), drafted over the course of 2017, defines Russia and China as “revisionist” powers, “rivals,” and for all practical purposes strategic competitors of the United States.

    The NSS stops short of defining Russia and China as enemies, allowing for an “attempt to build a great partnership with those and other countries.” Still, Beijing qualified it as “reckless” and “irrational.” The Kremlin noted its “imperialist character” and “disregard for a multipolar world.” Iran, predictably, is described by the NSS as “the world’s most significant state sponsor of terrorism.”

    Russia, China and Iran happen to be the three key movers and shakers in the ongoing geopolitical and geo-economic process of Eurasia integration.

    The NSS can certainly be regarded as a response to what happened at the BRICS summit in Xiamen last September. Then, Russian President Vladimir Putin insisted on “the BRIC countries’ concerns over the unfairness of the global financial and economic architecture which does not give due regard to the growing weight of the emerging economies,” and stressed the need to “overcome the excessive domination of a limited number of reserve currencies.”

    That was a clear reference to the US dollar, which accounts for nearly two-thirds of total reserve currency around the world and remains the benchmark determining the price of energy and strategic raw materials.

    And that brings us to the unnamed secret at the heart of the NSS; the Russia-China “threat” to the US dollar.   

    The CIPS/SWIFT face-off
    The website of the China Foreign Exchange Trade System (CFETS) recently announcedthe establishment of a yuan-ruble payment system, hinting that similar systems regarding other currencies participating in the New Silk Roads, a.k.a. Belt and Road Initiative (BRI) will also be in place in the near future.   


    Crucially, this is not about reducing currency risk; after all Russia and China have increasingly traded bilaterally in their own currencies since the 2014 US-imposed sanctions on Russia. This is about the implementation of a huge, new alternative reserve currency zone, bypassing the US dollar.   

    The decision follows the establishment by Beijing, in October 2015, of the China International Payments System (CIPS). CIPS has a cooperation agreement with the private, Belgium-based SWIFT international bank clearing system, through which virtually every global transaction must transit. 

    What matters, in this case, is that Beijing – as well as Moscow – clearly read the writing on the wall when, in 2012, Washington applied pressure on SWIFT; blocked international clearing for every Iranian bank; and froze $100 billion in Iranian assets overseas as well as Tehran’s potential to export oil. In the event that Washington might decide to slap sanctions on China, bank clearing though CIPS works as a de facto sanctions-evading mechanism.

    read more.

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December 27, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | 1 Comment

Russia-China Real Gold Standard Means End of US Dollar Dominance

https://www.rt.com/business/412546-china-russia-gold-standard-dollar/

Click on image for article.

December 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Comments Off on Russia-China Real Gold Standard Means End of US Dollar Dominance

Russia & China Could Set International Gold Price Based on Physical Gold Trading

  • Implied in this move by Russia and China is that: the west has run out of physical gold to suppress the gold price. As long as there is physical gold to be bought by Russia and China at a suppressed dirt cheap price, they will not make this move. The Global Currency Reset is near: the world will return to a gold backed currency/monetary standard.
  • Russia & China Could Set International Gold Price Based on Physical Gold Trading
    by https://www.rt.com/
    Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold.

    Gold pricing benchmarks from such a system would be based on physical gold transactions, which is a departure from the way the international gold price is currently established.

    Such a system would also be a threat to “gold” trading markets in London and New York. The London Over-the-Counter (OTC) and the New York COMEX futures exchange currently set the international gold price.

    OTC and COMEX are really trading synthetic derivatives on gold, and are completely detached from the physical gold market. In London, the derivative is fractionally-backed unallocated gold positions which are predominantly cash-settled. In New York the derivative is exchange-traded gold future contracts which are predominantly cash-settled and backed by very little real gold.

    The major gold producers Russia, China and other BRICS nations could change the way the international gold prices are set currently – in a synthetic trading environment which has very little to do with the physical gold market.

    read more.

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December 3, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Comments Off on Russia & China Could Set International Gold Price Based on Physical Gold Trading

BRICS Consider Setting Up Gold Trading System

Remember the Golden Rule: “He who has the gold Rules!”

  • BRICS Consider Setting Up Gold Trading System
    by https://www.rt.com/
    Brazil, Russia, India, China and South Africa (BRICS) are discussing the possibility of establishing a separate gold trading system, according to the First Deputy Chairman of Russia’s Central Bank Sergey Shvetsov.

    The traditional (trade) system based in London and partially in Swiss cities is becoming less relevant as new trade hubs are emerging, first of all in India, China, and South Africa,” he said, adding “we are discussing the possibility of establishing a single (system of) gold trade both within BRICS and at the level of bilateral contacts.”

    BRICS countries are large economies with substantial reserves of gold and an impressive volume of production and consumption of the precious metal, said the official. According to him, the new system may serve as a basis for the further creation of new benchmarks.

    The Bank of Russia has already signed a memorandum on developing bilateral gold trade with China. The regulator plans to form a single trade system with the People’s Republic of China in 2018.

    “We assume that trade and clearing links should be established. The point is that gold buyers should decide on the place of purchase,” Shvetsov said, adding that trade links will enable market participants to make deals on international exchanges via the central counterparty.

    Last year, the Bank of Russia and the People’s Bank of China announced plans to create a platform that would unite gold trading by the world’s two biggest gold buying countries.

    read more.

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November 28, 2017 Posted by | Economics | , , , | Comments Off on BRICS Consider Setting Up Gold Trading System

Putin: BRICS Ready to Challenge US Dollar as Global Reserve Currency

  • Putin: BRICS Ready to Challenge US Dollar as Global Reserve Currency
    by http://www.cetusnews.com/
    Russia is ready to join forces with its partners to counter excessive domination’ of the limited number of reserve currencies, Russian President Vladimir Putin said in his article in the run-up of the BRICS summit published on Friday.

    Russia is ready to join forces with its partners to counter excessive domination’ of the limited number of reserve currencies, Russian President Vladimir Putin said in his article in the run-up of the BRICS summit published on Friday.

    “We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies. We will also work towards a more balanced distribution of quotas and voting shares within the IMF and the World Bank,” Putin said in his article, headlined “BRICS: Towards New Horizons of Strategic Partnership,” to be published by the leading media of the BRICS states (Brazil, Russia, India, China and South Africa) ahead of the group’s summit due on September 3-5 in China.

    Unfairness of global financial architecture
    According to the Russian leader, Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies.


    read more.

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September 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Comments Off on Putin: BRICS Ready to Challenge US Dollar as Global Reserve Currency

Putin Reveals ‘Fair Multipolar World’ Concept in which Oil Contracts Could Bypass the US Dollar and be Traded with Oil, Yuan and Gold

  • Putin Reveals ‘Fair Multipolar World’ Concept in which Oil Contracts Could Bypass the US Dollar and be Traded with Oil, Yuan and Gold
    by PEPE ESCOBAR, http://www.atimes.com/
    The real BRICS bombshell
    The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context.

    Once again, it’s essential to keep in mind that the current core of BRICS is “RC”; the Russia-China strategic partnership. So in the Korean peninsula chessboard, RC context – with both nations sharing borders with the DPRK – is primordial.

    Meet the oil/yuan/gold triad
    It’s when President Putin starts talking that the BRICS reveal their true bombshell. Geopolitically and geo-economically, Putin’s emphasis is on a “fair multipolar world”, and “against protectionism and new barriers in global trade.” The message is straight to the point.

    The Syria game-changer – where Beijing silently but firmly supported Moscow – had to be evoked; “It was largely thanks to the efforts of Russia and other concerned countries that conditions have been created to improve the situation in Syria.”

    On the Korean peninsula, it’s clear how RC think in unison; “The situation is balancing on the brink of a large-scale conflict.” Putin’s judgment is as scathing as the – RC-proposed – possible solution is sound; “Putting pressure on Pyongyang to stop its nuclear missile program is misguided and futile. The region’s problems should only be settled through a direct dialogue of all the parties concerned without any preconditions.”

    Putin’s – and Xi’s – concept of multilateral order is clearly visible in the wide-ranging Xiamen Declaration, which proposes an “Afghan-led and Afghan-owned” peace and national reconciliation process, “including the Moscow Format of consultations” and the “Heart of Asia-Istanbul process”.

    That’s code for an all-Asian (and not Western) Afghan solution brokered by the Shanghai Cooperation Organization (SCO), led by RC, and of which Afghanistan is an observer and future full member.

    And then, Putin delivers the clincher; “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies.”

    “To overcome the excessive domination of the limited number of reserve currencies” is the politest way of stating what the BRICS have been discussing for years now; how to bypass the US dollar, as well as the petrodollar. Beijing is ready to step up the game. Soon China will launch a crude oil futures contract priced in yuan and convertible into gold.

    This means that Russia – as well as Iran, the other key node of Eurasia integration – may bypass US sanctions by trading energy in their own currencies, or in yuan. Inbuilt in the move is a true Chinese win-win; the yuan will be fully convertible into gold on both the Shanghai and Hong Kong exchanges.

    The new triad of oil, yuan and gold is actually a win-win-win. No problem at all if energy providers prefer to be paid in physical gold instead of yuan. The key message is the US dollar being bypassed.

    RC – via the Russian Central Bank and the People’s Bank of China – have been developing ruble-yuan swaps for quite a while now.

    read more.

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September 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | 1 Comment

China’s New Plans to Back Oil with Gold Emerged Out of BRICS Conference Under Putin’s Blueprint to End Dollar Hegemony

  • China’s New Plans to Back Oil with Gold Emerged Out of BRICS Conference Under Putin’s Blueprint to End Dollar Hegemony
    by http://www.thedailyeconomist.com/
    Last weekend, officials from China’s Shanghai International Energy Exchange dropped a bombshell that the Asian power would soon be introducing a new oil contract that would be denominated in the Yuan currency, and convertible with gold should customers demand it.  However, new information out on Sept. 5 shows that this gambit was not unilaterally decided by China alone, but came out of a blueprint forged in part by Russia’s President Vladimir Putin during the recent BRICS conference.

    And then, Putin delivers the clincher; “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies.”

    “To overcome the excessive domination of the limited number of reserve currencies” is the politest way of stating what the BRICS have been discussing for years now; how to bypass the US dollar, as well as the petrodollar. Beijing is ready to step up the game. Soon China will launch a crude oil futures contract priced in yuan and convertible into gold.

    This means that Russia – as well as Iran, the other key node of Eurasia integration – may bypass US sanctions by trading energy in their own currencies, or in yuan. Inbuilt in the move is a true Chinese win-win; the yuan will be fully convertible into gold on both the Shanghai and Hong Kong exchanges. – Asia Times


    So while President Trump and the Pentagon continue to play diplomatic ‘chicken’ over the potential threat of North Korea, they appear to be missing completely the covert destruction of dollar hegemony in almost the same exact fashion that the U.S. used 25 years ago to bring down the former Soviet Union…

    Attack them economically using oil and currencies to bankrupt the empire.

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September 8, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Comments Off on China’s New Plans to Back Oil with Gold Emerged Out of BRICS Conference Under Putin’s Blueprint to End Dollar Hegemony

De-Dollarization Begins, China Readies Yuan Base Crude Oil

  • X22Report Published on Sep 4, 2017
    Countries are now starting to make laws to control cryptocurrencies like Bitcoin. The everyday American cannot afford to live and cannot live the American dream.  China is now pushing the agenda to de-dollarize. China will be backing crude oil using the yuan that will also be backed by gold. The western financial system is now moving to the east. The central bankers have completed the setup and is now getting ready to switch over.
  • X22Report Published on Sep 5, 2017
    Leaked BREXIT document shows the UK establishing new rules on immigration. We are now seeing signs that gold is getting ready to break out. Lego is now laying off 1500 people. Factory orders implode and the economy continues to deteriorate. Latest NAFTA negotiations are not going well, all sides have not come to any agreements. The BRICS are now allowing more countries to join and they are establishing a rail system for the belt & road.

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September 6, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Comments Off on De-Dollarization Begins, China Readies Yuan Base Crude Oil