Socio-Economics History Blog

Socio-Economics & History Commentary

“Financial Nuclear Warheads”: The Yellow Vests Get It Right

  • For argument sake, let’s say 200,000 yellow vest protesters decide to withdraw $10,000 each out of their bank accounts. It amounts to $2Billion. This is not enough to collapse the banking system. The only way is to cause a real panic and cause millions of sheeple to do a bank run. Since, the Yellow Vests do not control the MSM, it is very difficult for them to ignite a massive bank run. If one actually occurs, I will be highly suspicious ie. it is enabled by Illuminist forces, intelligence agencies… possibly to introduce the CASHLESS system, totally electronic system where no one can withdraw their monies from the banking system.
  • “Financial Nuclear Warheads”: The Yellow Vests Get It Right
    by Robert Gore via Straight Line Logic bloghttps://www.zerohedge.com/
    The mainstream media has degenerated irreparably. Here’s a reliable rule of thumb: if it’s important it’s not covered; if it’s covered it’s not important. Stories in the American mainstream press about Yellow Vest protests have been few. One aspect of the protests, transcendently important, has received scant coverage.

    The Yellow Vest protestors have called for a coordinated run on French banks. Whether they realize it or not, they’re playing with nuclear warheads that could annihilate not just the French, but Europe’s and the entire world’s financial system. Because inextricably linked to the ends of contemporary governments―how much they can screw up the lives of those who must live under them—is the question of means―how do they fund their misrule? The short answer is taxes and debt.

    Since 1971, when President Nixon 
“temporarily” suspended international convertibility of dollars for gold (it’s never been reinstated), the monetary basis of the global economy has been fiat debt. Neither government or central bank debt nor currencies are tethered to any real constraint, like precious metals (see “Real Money,” SLL). Thus, politicians and monetary officials can create as much debt as they want: debt by fiat.

    Government and central bank debt is at the apex of the global debt pyramid. 
    The next tier is commercial banks that have accounts at central banks. Those accounts are bank assets and central bank liabilities, or debts. Central banks expand their fiat liabilities to banks in exchange for banks’ fiat government debt, an exchange called debt monetization, which is a bit of a misnomer since no “Real Money” is involved. The “monetization” is the central bank’s fiat expansion of banks’ accounts with the central bank in exchange for fiat government debt, which expands banks’ assets available for loans to governments, businesses, and individuals.


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January 16, 2019 Posted by | Economics | , , , , , , , | Leave a comment

Response to US Global Bullying: Iran, India Ditch Dollar to Continue Trading Oil Despite Sanctions

  • Response to US Global Bullying: Iran, India Ditch Dollar to Continue Trading Oil Despite Sanctions
    by Darius Shahtahmasebi, https://www.rt.com/
    In an effort to circumvent US-imposed sanctions, India and Iran have reportedly ditched the US dollar and are trading oil in rupees. The reason becomes clear after considering the dynamics at play in the region.

    In mid-February last year, Iranian President Hassan Rouhani visited India, and the two countries signed nine agreements signalling a strengthening of ties. Indian Prime Minister Narendra Modi appeared to celebrate the growing relationship, stating that it was “a matter of great pleasure” for India that an Iranian president came to India “after a gap of 10 years.”

    Fast-forward a few months later, and then-UN ambassador Nikki Haley was bluntly telling India that they should rethink their relationship with Tehran.

    Donald Trump’s decision to rip up the Joint Comprehensive Plan of Action (JCPOA) last year, also known as the Iranian nuclear accord, was a particularly significant blow to Iran-India relations. At the time the JCPOA was formulated, Indian officials believed the deal to be the “best deal available.” After the JCPOA’s implementation in 2016, exports of Iranian oil to India increased by more than 110 percent.

    Maybe the issue isn’t always that Washington wants to contain its rivals in the Middle East and Asia, but perhaps there is a chance that it also wants to keep a lid on its so-called allies as well. Right now, India is the third largest oil consumer in the world, and is expected to become the largest by the year 2040. As its domestic reserves are not meeting the needs of its rapidly expanding economy, India has been importing 80 percent of its oil supply from overseas, including and especially Iran.

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January 16, 2019 Posted by | Economics, GeoPolitics | , , , , , , | Leave a comment

The RESET Is Here: Expect Massive Financial Confusion?

January 16, 2019 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Jim Willie: Top Ten Trends Lead to Gold

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

  • Jim Willie: Top Ten Trends Lead to Gold
    by Jim Willie, GoldenJackass.com, http://www.goldseek.com/
    The year 2018 was a memorable year of great transitions. They involved changes in the political arena. They saw enormous changes in the debt picture, for both the USGovt and the major Western corporations. They saw a struggle to terminate the QE bond monetization, laced with hyper-inflation. They offered staggering damage to California, whose effects are easily 100 times greater than the World Trade Center fallout. They offered resistance to the US-led bully tactics, in slapping sanctions even on the US allies, a forecast by the Jackass two years ago. The globalist cabal agenda has been dealt a powerful damaging blow, perhaps lethal, during a year of great exposure for their criminality. The transitions offered a complete shift away from the perception of USMilitary full spectrum dominance. But the most important changes have come in the finance & economic sectors. The Gold Standard has seen a paved road for its implementation, arrival, and acceptance. The road can be identified for its several major constructed arteries. The pathways are built by the Eastern nations, which will continue to champion the financial reform, and thus wrest global control from New York and London. History is being made. It will still take time, but the momentum is gathering in a notable and convincing manner. The common theme of all the leading factors is the movement away from the USDollar, a theme so popular and widespread that it has been given a name, de-Dollarization. In the next year, even the compromised corrupted Wall Street bank community will openly discuss that Gold must be the solution to the unresolved crisis.

    TOP 10 FACTORS & EVENTS OF 2018, EACH WITH IMPORTANT IMPACT ON THE NEW YEAR TOWARD THE GOLDEN DIRECTION:

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January 15, 2019 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | Leave a comment

They Are Dumping The Dollar

January 15, 2019 Posted by | Economics | , , , , | Leave a comment

Catherine Austin Fitts: Federal Government Running Secret Open Bailout. Secret Money for Private Armies

  • Catherine Austin Fitts: Federal Government Running Secret Open Bailout. Secret Money for Private Armies
    by Greg Hunter’s USAWatchdog.com (Early Sunday Release)
    Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says it looks like a “global recession is coming.” Is that going to cause the debt reset we’ve been hearing about for years? Fitts says, “Make no mistake about it, there is no reason for the federal government to default or monkey with any debt because they can literally print the currency. The question is how do they make sure whatever they are printing really holds any kind of store of value. I think the reason you are seeing them reengineer the federal bureaucracy and financial transactions infrastructure is because they want much greater and tighter control to do whatever they do, and that includes to continue to debase the currency. They could do this (reset) entirely by debasing the currency. . . . What we are watching . . . is essentially a coup. We had a financial coup, and now we are watching a legal coup to consolidate that financial coup. I would keep my eye on the fundamental governance structure of the U.S. The important thing is not what they do. The important thing is who controls no matter what they do. Now, we have created a mechanism for them to control entirely in secret and create policies entirely in secret, including around the back of a U.S. President. . . . It’s pirating by the ‘just do it’ method. I said to someone the other day, what is it about secret money for secret private armies that you don ‘t understand?”

    $21 trillion in “missing money” at the DOD and HUD that was discovered by Dr. Mark Skidmore and Catherine Austin Fitts in 2017 has now become a national security issue. The federal government is not talking or answering questions, even though the DOD recently failed its first ever audit. Fitts says, “This is basically an open running bailout. Under this structure, you can transfer assets out of the federal government into private ownership, and nobody will know and nobody can stop it. There is no oversight whatsoever. You can’t even know who is doing it. I’m telling you they just took the United States government, they just changed the governance model by accounting policy to a fascist government. If you are an investor, you don’t know who owns those assets, and there is no evidence that you do. . . . If the law says you have to produce audited financial statements and you refuse to do so for 20 years, and then when somebody calls you on it, you proceed to change the accounting laws that say you can now run secret books for all the agencies and over 100 related entities.”

    In closing, Fitts says, “We cannot sit around and passively depend on a guy we elected President. The President cannot fix this. We need to fix this. . . . This is Main Street versus Wall Street. This is honest books versus dirty books. If you want the United States in 10 years to resemble anything what it looked like 20 years ago, you are going to have to do it, and there is no one else who can do it. You have to first get the intelligence to know what is happening.”

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January 14, 2019 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | 3 Comments

John Rubino: Time Is Ticking — Expect Huge Dollar Down Move Around The Corner!

January 14, 2019 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

Gold Is The Key, Patriots Have The FedRes Scrambling

  • X22Report Published on Jan 11, 2019
    Earning season does not look good, companies are not doing as we were told. The economic illusion the [CB] created is now falling apart, it will be showing up in the people’s sector and not the stock market, not the statistical numbers. Trump and team will be moving quickly to prepare the country for the transition. Certain Fed officials are trying to control the narrative but Powell continues with with plan. Russia is continuing to de-dollarize and says gold will be very important moving forward.

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January 12, 2019 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment

This Will Be A Very Hard Reset – Just Be Ready

January 12, 2019 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

5 Doom Loops of a Crisis What You Need to Know

  • ITM Trading Published on Jan 11, 2019
    Links to slides and sources: https://www.itmtrading.com/blog/5-doo…
    When we talk about patterns, no discussion would be complete without examining the pattern of a “Doom Loop”. In fact, there are five key “Doom Loops” seen during financial crisis’s: The Intermediary, Sovereign, Collateral, Hedging and ultimately, the Real Economy Doom Loop. In any Ponzi scheme, confidence is key. What governments, central banks and Wall Street are really afraid of is that public loss of confidence in the financial system. Without that they won’t shop or hold their wealth in Wall Street contracts. They won’t believe in the “stimulus” provided by governments and central bankers. They might even buy physical gold and silver! If that happened, how would wealth be voluntarily transferred? So you can see the patterns in doom loops, but there are also clear patterns in real money gold and silver. This lies in our future, though the time to get into position is now.

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January 12, 2019 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

HARD LANDING AHEAD: Are Credit Air Bags Ready?

  • ITM Trading Published on Jan 9, 2019
    Link to slides and sources: https://www.itmtrading.com/blog/hard-…
    For the first time since 2008, no junk bonds were issued in December 2018. “This is clearly more than year-end jitters,” said Guy LeBas, a strategist at Janney Montgomery Scott. “What we’re seeing now is pretty typical for end-of-credit-cycle behavior.” Voila, they too are calling the pattern shift that indicates the end is close. What about governments and central banks? They have their own problems; Trade Wars, Government Shutdowns, Bexit, Italy, bloated balance sheets and massive deficits with trillions in new government debt required. Who do you think will come first?

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January 11, 2019 Posted by | Economics | , , , , , , , , , , , , , , , | Leave a comment

Russia Shifts $100Bn of Its Reserves into Yuan, Yen & Euro in a Great Dollar Dump

  • Russia Shifts $100Bn of Its Reserves into Yuan, Yen & Euro in a Great Dollar Dump
    by https://www.rt.com/
    The Central Bank of Russia has moved further away from reliance on the US dollar and has axed its share in the country’s foreign reserves to a historic low, transferring about $100 billion into euro, Japanese yen and Chinese yuan.

    The share of the US currency in Russia’s international reserves portfolio has dramatically decreased in just three months between March and June 2018, from 43.7 percent to a new low of 21.9 percent, according to the Central Bank’s latest quarterly report, which is issued with a six-month lag.

    The money pulled from the dollar reserves was redistributed to increase the share of the euro to 32 percent and the share of Chinese yuan to 14.7 percent. Another 14.7 percent of the portfolio was invested in other currencies, including the British pound (6.3 percent), Japanese yen (4.5 percent), as well as Canadian (2.3 percent) and Australian (1 percent) dollars.

    The Central Bank’s total assets in foreign currencies and gold increased by $40.4 billion from July 2017 to June 2018, reaching $458.1 billion.

    read more.

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January 11, 2019 Posted by | Economics | , , , , , , | Leave a comment

Bix Weir: Debt Levels at ALL TIME Highs as Banks Wobble!! Deutsche Bank Can’t Take ANY More BAD NEWS!!

January 11, 2019 Posted by | Economics | , , , , , , , , , , , , , | Leave a comment

Lior Gantz: Explosive Upside Potential For Gold & Silver

  • Lior Gantz: Explosive Upside Potential For Gold & Silver
    by https://www.silverdoctors.com/
    Lior agrees that the outlook for gold and silver is improving dramatically. Here’s why… Lior Gantz interviewed by Palisade Radio:

    Lior agrees that the outlook for Gold and Silver is improving dramatically. Recent market action has resulted in a rebound. In September mining stocks hit 52-week lows, and the regular markets are now entering bear market territory. Inflation is on the rise and many states are hiking their minimum wage. Recent US Dollar strength is actually a bearish sign.

    Mining shares need several things to catch a bid. They need interest rates to be trending lower, an unfavorable environment for the stock markets, indications of inflation, and unstable geopolitics. Time Stamp Reference:

    1:10 – Current state of precious metal stocks.
    2:10 – Recent market sentiment.
    2:40 – Interest rates and inflation.
    4:00 – Dollar performance and why the outlook is bad.
    6:20 – Gold and silver demand picture.
    7:30 – Gold silver ratio and potential upsides.
    8:30 – Silver will outperform.
    10:00 – Uranium sector.
    13:25 – Misconceptions about gold.
    15:45 – China’s performance in the world and gold.
    17:00 – How gold minimizes risk.

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January 10, 2019 Posted by | Economics | , , , , , , , , , | Leave a comment

Collapse of the European Integration ‘Is On The Cards’ – Professor

  • Collapse of the European Integration ‘Is On The Cards’ – Professor
    by https://sputniknews.com/
    With 2019 beginning and the EU as fractured as ever, increasing scrutiny has been placed by leading economists on the bloc’s single currency the EU. Which they argue has caused more harm than good.

    Sputnik spoke with Stavros Mavroudeas, Professor of Political Economy at the University of Macedonia for more insight on the issue.

    Sputnik: Is the Euro a failed project?
    Stavros Mavroudeas: I think the Euro overall is a problematic project. It’s not a success story; it’s actually proving to be a story of a failure. The Euro is a part of the European integration project, and this in my opinion is an imperialist project.


    Imperialism meaning; at least in Marxism, that a country or bloc of countries exploits other countries economically. The European integration was inaugurated the Second World War under the auspices of the US, with the aim of securing economically and politically Western Europe, from the Soviet threat.

    It changed radically after the nineteen seventy three global capitalist crisis; because by then the US supremacy faltered, and there was another time after nineteen eighty nine, when the Soviet bloc collapsed.

    By then the European integration acquired greater independence from the US and even aspired to dethrone it, as the new economic capitalist superpower of the world.

    The former European Monetary Union is the necessary evolution of this course of European integration, because after the collapse of the Bretton Woods system, particularly its exchange rates system; that was based on the dollar and was a system of fixed exchange rates.

    Once this system collapsed; and it did so because of the US under the Nixon administration withdrew from that system and acted unilaterally, then the European integration needed a currency for its common market. They moved towards creating ultimately, after several previous failed attempts in creating the European Monetary Union, that is the Euro.

    Sputnik: Would the collapse of the Euro mean the collapse of the EU?
    Stavros Mavroudeas:
    I think that the possibility of either a collapse or a fragmentation of the European Integration and its monetary union is on the cards.


    read more.

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January 10, 2019 Posted by | Economics, GeoPolitics | , , , , , | Leave a comment