Socio-Economics History Blog

Socio-Economics & History Commentary

China Has Grand Ambitions to Dethrone the Dollar. It May Make a Powerful Move this Year

https://www.cnbc.com/2017/10/24/petro-yuan-china-wants-to-dethrone-dollar-rmb-denominated-oil-contracts.html

Click on image for article.

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

“The Dollar is Finished” | Jim Willie (Part 1)

  • Jim Willie Says They Made It An Oil-For-Gold Contract For A Very Specific Reason
    by https://www.silverdoctors.com/
    Dr. Willie tells Silver Doctors that the West has no idea of the murders, fraud and theft committed by the U.S. to prevent the roll-out. Here’s more…

    Jim Willie of Golden Jackass joins Silver Doctors to discuss the latest happenings with the oil for gold-backed yuan contract.

    Dr Willie says he admires the likes of Hugo Salinas Price and doesn’t quite know what to make of it when Hugo says to think about the fact that China is not going to be the one supplying all of that gold. It’s quite possible the gold will come from the West in general, and London in specific.

    Jim Willie is not sure but he says there is much speculation about all of this and the details are only coming out bit by bit. Willie also discusses cryptocurrencies. Bitcoin isn’t the big winner though. He says asset-backed cryptocurrencies will be even more profitable than Bitcoin. This is Part I of the interview. Tune in for a timely update and stay tuned for Part II when it comes out.

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

Is North Korea Just a Smokescreen? The Real Target is China

  • Is North Korea Just a Smokescreen? The Real Target is China
    by Bryce McBride, https://www.mises.ca/
    Is Korea just a smokescreen?
    In my last article (Sticking the arson charge on a couple of patsies) I questioned why North Korea’s nuclear program was attracting such attention from the United States. North Korea is a very poor and backwards country whose bellicosity reflects the regime’s need for an external enemy like the United States to galvanize domestic support. Attacking America and its allies in the region is the last thing North Korea’s leaders would want to do as such an attack would guarantee an American response that would be sure to destroy their lives, their government and the lives of millions of innocent Korean civilians.

    However, this month I was made aware of another possible reason for the attention being paid to North Korea and its nuclear program. What if the escalating tensions over Korea are just a smokescreen intended to legitimize an American military buildup in the region aimed at intimidating China?

    In 2011, former U.S. President Barack Obama announced a change in U.S. foreign policy that was termed a ‘Pivot to Asia.’ The official thinking was that as China and the emerging countries of South-East Asia gained in economic importance, it made sense to devote more military and diplomatic attention to the region while reducing the attention paid to Europe and the Middle East.

    Of course, observers also saw the pivot as a response to the rising economic, political and military power of a resurgent China. Just as the U.S. sought to contain the Soviet Union during the Cold War with a string of encircling alliances and economic agreements, so America today seeks to keep China in check through military alliances with East Asian countries like Japan, South Korea and Taiwan and trade agreements such as the Trans-Pacific Partnership (TPP).

    Chinese leaders acutely resent continued American dominance in a region they consider their own backyard. However, they are not reckless and do not seek to engage in a potentially catastrophic military confrontation. Instead, they have spent the past few years establishing institutions and agreements which, taken together, will displace the U.S. dollar from the centre of the global financial system. Empire is expensive. Just as the British were forced to decolonize in the 1960s once the pound lost its reserve currency status in the years following World War II, so too will the demise of the dollar force American retreat from global (and, most importantly for the Chinese, East Asian) hegemony.

    read more.

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November 9, 2017 Posted by | GeoPolitics | , , , , , , , | 1 Comment

Global Crackdown Meets Crack Up Boom — Rob Kirby

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

Cryptocurrency Is Going To Push The Fiat Money System Over A Cliff: Rob Kirby

November 6, 2017 Posted by | Economics | , , , , , , , , , , , , , | Leave a comment

Ruble-Yuan Trade Between Russia & China Makes Dollar Odd Man Out

  • Ruble-Yuan Trade Between Russia & China Makes Dollar Odd Man Out
    by https://www.rt.com/
    Moscow and Beijing are looking to extend the three-year $25 billion yuan-ruble swap deal and seek greater use of domestic currencies in trade. Experts have told RT this is likely to cut dependence on the US dollar.

    This week, Russian Prime Minister Dmitry Medvedev said “the financial regulators of the two countries are working on extending the bilateral currency swap agreement for the next three years.”

    “In 2016, the share of national currencies in payments for exports of Russian goods and services was 13 percent, imports 16 percent. In the first quarter of 2017, these figures rose to 16 percent and 18 percent, respectively,”
     said Russian Deputy Prime Minister Sergey Prikhodko.

    Both China and Russia are committed to promoting their own currencies, and this means the dollar share is likely to shrink.

    “That’s a fact, and it’s not just indicative of the volume of transactions in national currencies. Russia and China are already working together on several BRICS multilateral agreements. Trade in national currencies is just one aspect of the general trend that has emerged in the world over the past decade,”
     a Moscow-based analyst Mehdi Mehdiyev told RT’s German website, RT Deutsch.


    Trade in national currencies protects countries against “external influences,” helps to avoid risks of fluctuations in exchange rates; swap agreements also help reduce the budget deficit, Mehdiyev said.

    Chinese financial expert Andrew KP Leung told RT Deutsch that for Moscow, trading in national currencies is a way to bypass Western sanctions, and for Beijing to promote the yuan.

    “China is one of the largest buyers of Russian energy exports. The extension of the currency swap will reduce transaction costs for Russia and China. Trading in yuan will reduce Russia’s dependency on the US dollar,”
     said Leung.


    read more.

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November 4, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

The Cabal And The Dollar Will Be Coming Down All At A Once: V & CJ

November 4, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

New World Order: The Economic End Game Continues

  • The Economic End Game Continues
    by Brandon Smith, http://alt-market.com/
    In November of 2014 I published an article titled ‘The Economic End Game Explained’. In it I outlined what I believed would be the process by which globalists would achieve what they call the “new world order” or what they sometimes call the “global economic reset.” As I have shown in great detail in the past, the globalist agenda includes a fiscal end game; a prize or trophy that they hope to obtain. This prize is a completely centralized global economic structure, rooted in a single central bank for the world, the removal of the U.S. dollar as world reserve currency, the institution of the SDR basket system which will act as a bridge for single a global currency supplanting all others and, ultimately, global governance of this system by a mere handful of “elites.”


    The timeline for this process is unclear, but there is some indication of when the “beginning of the end” would commence. As noted in the globalist owned magazine The Economist, in an article titled “Get Ready For The Phoenix,” the year of 2018 seems to be the launching point for the great reset. This timeline is supported by the numerous measures already taken to undermine dollar dominance in international trade as well as elevate the International Monetary Fund’s SDR basket. It is clear that the globalists have deadlines they intend to meet.

    That said, there have been some new developments since I wrote my initial analysis on the end-game strategy that I think merit serious attention. The end game continues, faster than ever before, and here are some of the indicators showing that the “predictions” of the globalists at The Economist in 1988 were more like self-fulfilling prophecies and 2018 remains a primary nexus point for a re-engineering of our economic environment.

    Using The East To Dismantle The Petrodollar
    As I mentioned in last week’s article, ‘Lies And Distractions Surrounding The Petrodollar,’ there has been silence and often disinformation in the mainstream when it comes to the quite open and obvious international pivot away from the dollar as the defacto purchasing mechanism for oil. This trend is only set to accelerate in two months as China begins fulfilling oil contracts in the Yuan instead of the dollar.


    The problem is that even in the alternative media there is a continuing myth that Eastern nations are angling to “break away” from the international order. I often see the argument presented that the loss of the petrodollar can only be a good thing for the world. I am not here to comment on whether the end of oil-denominated in dollars is a good or bad thing. I am here, though, to point out that there is absolutely no indication whatsoever that major eastern powers like Russia and China are acting to undermine the existing globalist system.

    On the contrary, China and Russia remain, as ever, heavily partnered with the IMF as well as the Bank for International Settlements, and their ties to international banking monoliths like Goldman Sachs and JP Morgan are long established.

    read more.

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

Click on image for article.

9 Jan 1988 cover, The Economist: Get Ready for a World Currency by 2018! The Rise of the Phoenix world currency from the ashes of national fiat currencies ie. destruction of fiat currencies via hyperinflation. “Phoenix” is of course an occult metaphor. Out of the destruction, the ashes of the old world order, the Luciferian New World Order will rise like a Phoenix!

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November 4, 2017 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

Iran Suggests Russia Help ‘Isolate the Americans’ by Ditching Dollar

http://www.express.co.uk/news/world/874772/Iran-supreme-leader-Ayatollah-Ali-Khamenei-asks-Vladimir-Putin-isolate-US-ditch-dollar

Click on image for article.

  • Iran Suggests Russia Help ‘Isolate the Americans’ by Ditching Dollar
    by https://www.rt.com/
    The best way to beat US sanctions against Iran and Russia is joint efforts to dump the American currency in bilateral trade, according to Iranian Supreme Leader Ali Khamenei.

    “By ignoring the negative propaganda of the enemies, that seek to weaken relations between countries, we can nullify US sanctions, using methods such as eliminating the dollar and replacing it with national currencies in transactions between two or more parties; thus, isolate the Americans,”
     he said on Wednesday at a meeting with Russian President Vladimir Putin in Tehran.


    According to Khamenei, economic relations have vast room for improvement. “In the transportation sector, we can expand cooperation, using the main axis of Chabahar port to the port of Saint Petersburg, as well as in other economic areas,” he said.

    During the meeting, which lasted about an hour and a quarter, Putin replied that Russia considers Iran “a strategic partner and a great neighbor, and we will take advantage of every opportunity to expand and consolidate relationships in all dimensions.”

    The Russian president said the US wants to interfere in all matters of the world and the region and often ignores interests of its allies to do so. However, since 2014, despite the sanctions, “we devoted our funds to scientific and technological progress, and we had significant growth in the fields of biotechnology, IT, agriculture and space industries. Now, in spite of the initial concerns, we have realized that we can do whatever we decide to,” said Putin.

    Putin is visiting the Iranian capital to attend a trilateral summit with the leaders of Iran and Azerbaijan.

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November 3, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

Dollar Should Not Dominate the World – Russian PM Medvedev

  • Dollar Should Not Dominate the World – Russian PM Medvedev
    by https://www.rt.com/
    The international financial system needs to balance which is why there is no place for a dominant currency, Russian Prime Minister Dmitry Medvedev said at a news conference on Wednesday.

    “The balanced system of financial relations should be based on the use of various reserve currencies, various forms of settlement. There should be no domination of any one currency,”
    said Medvedev, speaking at the regular Russia and China heads of government meeting.


    Medvedev said that no matter how strong the American economy, it also faces problems from time to time. “As a result, the entire financial world is shaken. A more balanced international financial system is better for everyone,” the prime minister said.

    According to Medvedev, Russia is pleased with the growing role of the Chinese yuan in global settlements, as it represents one of the world’s largest economies.

    In May, Russia and China established an investment fund worth 68 billion yuan ($10 billion).The countries also plan to extend the bilateral currency swap agreement for another three years. In 2014, Russia and China agreed on a 3-year ruble-yuan currency swap deal of up to $25 billion.

    China has been pushing for a greater use of the yuan in oil settlements. As the country has become the largest oil importer overtaking the United States, it can now dictate rules, experts note.

    The chief economist and managing director at High Frequency Economics Carl Weinberg has predicted that “Chinese [oil] demand will dwarf US demand,” and Beijing is likely to “compel” Saudi Arabia to sell crude oil in yuan, a move to be followed by others.

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November 2, 2017 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Gerald Celente: 2018 Predictions – Gold Will Hit a Bitcoin High

  • Gerald Celente: 2018 Predictions – Gold Will Hit a Bitcoin High
    by Greg Hunter’s USAWatchdog.com
    Top trends researcher Gerald Celente says he sees strong trends shaping up for 2018. First up, the embattled President Trump.  Celente says, “There’s not been one shred of evidence, period, paragraph, that Russia had anything to do with tapping into or hacking the DNC information and going into their computers.  It has nothing to do with Trump, but what it does is it’s taking the people’s minds off the major issues.  It’s also building that military industrial complex even bigger. We’ve got to watch out for those Russians.  Russia’s GDP is about 7% of America’s.  Trump has increased our military budget $54 billion.  The entire Russian military budget is $48 billion.  You talk to the average person, and they hate the Russians.  It’s working perfectly . . . We don’t see Trump being impeached.”


    On the Clintons, Celente contends, “Going back to the Uranium One deal. Yes, it is going to fall back on the Clintons.  The hundreds of millions of dollars given to the Clinton Foundation by Russians as they did the uranium deal.  Those are facts.  We don’t see anything happening to Trump.

    On the economy, Celente says, “We are now going into almost a year going into the Trump rally. I was negative on the stock market until Trump got elected.  What happened?  We did a 180 (degree turn) a week after he got elected and said this rally is real. . . . Trump is pro-business . . . it’s good for the markets and that sector.”

    But what about the 2018 economic forecast? Celente says, “For the economy, we see a slowdown.  Interest rates are going up.  That’s the bet.  Interest rates are going to go up another 25 basis points in December.  So, we believe by the 2nd quarter of 2018, you are going to start to see a slowdown because the only thing that has pumped up the markets is the cheap money. . . .The fish rots from the head down, the markets are going to melt from the head down.  The head being the very rich.  The top 10% of the rich own 96% of the stock. . . . So, this thing rots down, and we are seeing it now on research.  It’s going to fall from the top.”

    Celente also predicts China will make big headlines in 2018. Celente points out, “China is not using petro-dollars.  They are buying Russian oil, their biggest supplier, with yuan.  You can cash in the yuan for gold.  It’s the same with Iran and with Saudi Arabia.  This is another reason that China is going to go further.  You can start bringing your dollars to Walmart in a wheelbarrow because that’s what they will be worth. . . . What kept the dollar alive as the world reserve currency is that all the oil being traded is being bought in dollars.  If you are paying for oil in other currencies . . . the Federal Reserve can’t keep printing up all the money that they want.  They won’t have it out there as a reserve currency.  You will see inflation skyrocket in this country, and gold will hit like a Bitcoin high.  We believe it’s starting to happen.

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November 2, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Deutsche Asks A Stunning Question: “Is This The Beginning Of The End Of Fiat Money?”

  • Deutsche Asks A Stunning Question: “Is This The Beginning Of The End Of Fiat Money?”
    by Tyler Durden, http://www.zerohedge.com/
    One month ago, Deutsche Bank’s unorthodox credit analyst, Jim Reid published a phenomenal report, one which just a few years ago would have been anathema, as it dealt with two formerly taboo topics: is a financial crisis coming (yes), and what are the catalysts that have led the world to its current pre-crisis state, to which Reid had three simple answers: central banks, financial bubbles and record amounts of debt.

    Just as striking was Reid’s nuanced observation that it was the modern fiat system itself that has encouraged and perpetuated the current boom-bust cycle, and was itself in jeopardy when the next crash hits:

    We think the final break with precious metal currency systems from the early 1970s (after centuries of adhering to such regimes) and to a fiat currency world has encouraged budget deficits, rising debts, huge credit creation, ultra loose monetary policy, global build-up of imbalances, financial deregulation and more unstable markets.

    The various breaks with gold based currencies over the last century or so has correlated well with our financial shocks/crises indicator. 
    It shows that you are more likely to see crises/shocks when we break from hard currency systems. Some of the devaluation to Gold has been mindboggling over the last 100 years.


    read more.

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November 2, 2017 Posted by | Economics | , , , , , | Leave a comment

Russia & China to Extend Currency Swap Agreement to Lessen Dollar Dependence

  • Russia & China to Extend Currency Swap Agreement to Lessen Dollar Dependence
    by https://www.rt.com/
    Economic cooperation between Russia and China has been actively developing according to Russian Deputy Prime Minister Sergei Prikhodko. He says the sides are working to prolong the bilateral currency swap agreement.

    “At present, financial regulators of the two countries are working on extending the bilateral currency swap agreement for the next three years,” he said as Russian Prime Minister Dmitry Medvedev heads off on an official visit to China.

    Prikhodko added that settlements in national currencies are gradually increasing. “In 2016, the share of national currencies in payments for exports of Russian goods and services amounted to 13 percent, imports, 16 percent. In the first quarter of 2017, these figures rose to 16 percent and 18 percent, respectively,” he said.

    China has developed a system of cross-border payments in yuan, the China International Payments System (CIPS), to expand the use of its national currency in international payments, according to Prikhodko. He said some Russian banks have already joined CIPS.

    The Russian National Card Payment System (NSPK) and China’s UnionPay have agreed to process domestic Russian transactions using UnionPay cards in NSPK. This year the two countries plan a pilot project of UnionPay and Rosselkhozbank for issuing co-badging cards with Russia’s Mir payment system.

    read more.

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November 1, 2017 Posted by | Economics, GeoPolitics | , , , , | Leave a comment

Bombshell Analysis: Elites Killing US Dollar to Blame Trump

  • Bombshell Analysis: Elites Killing US Dollar to Blame Trump
    by  | http://www.Infowars.com
    China, global markets blocking demand for dollar, which will trigger US recession


    The globalists are planning to dump the US dollar as the world’s reserve currency, which would trigger an economic catastrophe they can then blame on President Trump.

    For the past several decades, the US was able to survive its trade deficit due to global demand for the dollar, especially in the energy sector, but now China, which has taken up the globalist mantle in the planned post-America world, is beginning to trade for oil in “petro-yuans.”

    “One of the world’s top energy importers, China, is set to roll out a yuan-denominated oil contract as early as this year,” reported RT. “Analysts call the plan, announced by Beijing in September, a huge move against the dollar’s global dominance.”

    “…The contract will enable the country’s trading partners to pay with gold or to convert yuan into gold without the necessity to keep money in Chinese assets or turn it into US dollars.”

    Historically, the US has been able to spend more than it earns – and survive economically despite a shrinking manufacturing base – because the dollar is the preferred medium of international trade, giving it greater value in global markets than it would have otherwise warranted.

    In fact, the US has actually benefitted from this trade deficit because foreign factories are forced to exchange their cars and TVs for “funny money.” “There is a dark side to the exchange, however,” wrote financial expert G. Edward Griffin. “As long as the dollar remains in high esteem as a trade currency, America can continue to spend more than it earns, but… when the dollar tumbles and foreigners no longer want it, the free ride will be over.”

    Mass inflation will ultimately result as the dollar loses value due to its loss in demand, and it’s certain the central bankers will blame President Trump for this catastrophe if it happens during his administration.

    However, this isn’t something the president has any real control over; it’s rather the residual effects of the Federal Reserve printing money out of practically nothing for years and of past administrations using “regime change” to temporarily prop up demand for the petrodollar.

    Remember, Muammar Gaddafi was overthrown in Libya not long after he proposed trading oil with a gold-back African currency instead of US dollars.

    read more.

The Satanic capstone on your dollar bill ie. the Anti-Christ, the bringer of false peace, the white horseman of Revelation 6. The Luciferian New World Order will be complete with the arrival of the Satanic capstone, the Man of Sin who will conquer the world with ‘peace’ in a world wrecked by global wars. Revelation 6!

From: Vintage ‘Trees’ music video. All humanity forming a pyramid worshipping, welcoming the Satanic capstone! The Anti-Christ, the bringer of false peace, the white horseman of Revelation 6 ! The completion of the New World Order project, in a world wrecked by global wars, collapse and chaos!

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November 1, 2017 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , | Leave a comment

China’s Launch of ‘Petro-Yuan’ Will Be ‘Wake Up Call’

  • China’s Launch of ‘Petro-Yuan’ Will Be ‘Wake Up Call’
    by http://www.atimes.com/writer/asia-unhedged/
    Possible Chinese investment in Saudi Aramco IPO could add to Beijing’s leverage

    Anticipation of a move to roll out a yuan-denominated oil contract within the coming months continues to grow, with hedge fund manager Adam Levinson saying Tuesday it will be a “wake up call” for investors.

    The launch of the “petro-yuan” will be a “huge story,” Levinson, who is founder of Graticule Asset Management Asia, told Bloomberg.

    As David Goldman noted earlier this month in Asia Unhedged, Moscow’s sale of Russia’s S-400 air defense system to Saudi Arabia represents a huge eastward shift for the Kingdom. The increasing importance of Chinese oil imports may have already given China enough leverage to persuade the Saudi’s to accept RMB payment for oil.

    Possible anchor investments from Chinese firms in an upcoming Saudi Aramco IPO could provide even more leverage, as Mishaal al Gergawi writes for Foreign Policy:

    While this investment may not explicitly require that Saudi Arabia agree to trade in yuan, it would give China leverage toward that goal. For Mohammed bin Salman, Chinese investment in Aramco could kick-start a new economic partnership with Beijing. As part of its economic reform, Saudi Arabia’s ambitious Vision 2030 plan intends to raise foreign direct investment from 3.8 percent of GDP to 5.7 percent, or an additional $12 billion per year.

    But even if the end of the dollar’s dominance is in front of us, it may still be far away. “Game changer it is not — at least not yet,” CNBC reported Gal Luft, co-director of the Institute for the Analysis of Global Security, as saying. “But it is another indicator of the beginning of the glacial, and I emphasize the word glacial, decline of the dollar.”

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October 30, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment