Socio-Economics History Blog

Socio-Economics & History Commentary

Italy: The Biggest Elephant Jeopardizing Europe And The Euro

greece_italy_collapse_eu

  • Italy: The Biggest Elephant Jeopardizing Europe And The Euro
    by Not just the euro, but the entire European Union may be in jeopardy next week when the Italians vote on a constitutional referendum initiated by Prime Minister, Matteo Renzi.

    What a Jubilee year it has been. First Brexit, then Trump and now it appears Italy is on the cusp of also escaping the grasp of the European Union. After two years of directly covering trends involved with the disintegration of Western culture in my book Shemitah Trends, I can say with confidence that what has been built up is being torn down. That includes the European Union which will either gradually or abruptly collapse into various pieces.

    Nonetheless, the overall centralization and authoritarianism of Europe will not cease. It simply will be ruled in pieces instead of as one region. The disasters that will come as a result of the fracturing, will be used as justifications to create the additional globalism that our controllers seek – though in general, most people are opposed to it.

    A splintered Europe is probably easier to control than a homogenous one. Part of control is setting individuals, groups and regions against one another. Having an “enemy” to unite against justifies authoritarianism.

    Is Renzi everything he seems to be? His nickname is Il Rottamatore – the “Demolition Man.” It is hard to believe he simply decided the best way to reform Italy was via referendum, especially given the rising anti-euro sentiment and political opposition to constitutional changes.

    In order to examine what’s really going on in Italy, you have to be aware of recent political trends — one of the most prominent being George Soros’s affiliation with one of Italy’s most influential political parties, the “Five Star Movement.”

    This party was founded by comedian Beppe Grillo and has espoused a variety of anti-mainstream points of view. Most notably, the party has called for a vote on leaving the Eurozone. It is very possible that if Renzi loses his referendum, political maneuverings could bring further referendums directly affecting Italy’s participation in the EU.

    How do we know about Soros’s affiliation with the party? Because he is close friends with economist Joseph Stiglitz who is a good friend of Grillo’s and Stiglitz reportedly has had a strong influence on Grillo’s economic stance. Papers published in August from DC Leaks reportedly reveal Soros’s influence directly on emergent political entities including the Five Star party.

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November 28, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

EURO IS OVER: Italy Opposition Set to Push Out Renzi AND Failing Currency After Referendum

http://www.express.co.uk/news/politics/736963/Italy-Matteo-Renzi-Italeave-EU-European-Union-Five-Star-Movement-Berlusconi-politics-Euro

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http://www.express.co.uk/news/world/725531/Europe-brink-banking-Armageddon-crisis-Credit-Crunch-economy

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http://www.express.co.uk/news/world/704996/Banks-preparing-for-economic-nuclear-winter-Senior-banking-analyst-warns-of-EU-APOCALYP

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http://www.express.co.uk/news/world/691326/Italy-prime-minister-Matteo-Renzi-political-financial-break-down-Eurozone-European-Union

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http://www.ibtimes.co.uk/bis-warns-gathering-storm-global-economy-markets-lose-faith-central-banks-1547898

The Illuminist bankster serpents who are causing the coming global collapse are blaming everyone for the problem. Click on image for article.

http://www.theguardian.com/business/2016/jan/12/beware-great-2016-financial-crisis-warns-city-pessimist

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November 28, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Cash Crackdown Escalates: India May Impose 60% Tax On “Unaccounted” Deposits, Curbs On Gold Holdings

New Delhi : People standing in long queues to exchange their old Rs 500 and 1000 notes and withdraw cash from the ATM in New Delhi om Thursday.PTI Photo by Subhav Shukla(PTI11_17_2016_000041B)

New Delhi : People standing in long queues to exchange their old Rs 500 and 1000 notes and withdraw cash from the ATM in New Delhi on Thursday (17 Nov 2016).PTI Photo by Subhav Shukla

  • Cash Crackdown Escalates: India May Impose 60% Tax On “Unaccounted” Deposits, Curbs On Gold Holdings 
    by Tyler Durden, http://www.zerohedge.com 
    As reported yesterday, India’s unexpected crackdown on “black money” which saw the elimination of the old high denomination bills, is not going well, not only because former PM Manmohan Singh slammed the idea warning it would cut as much as 2% from the GDP of the world’s fastest growing economy, but because so far the voluntary participation in the “exchange” of old for new notes ahead of today’s exchange suspension (deposits of old cash may still take place until December 31) has been far below expectations.

    As a result, the government is taking even more aggressive steps to part savers with their allegedly “laundered” cash, and as the Indian Express reports, Mody’s cabinet discussed amending laws to levy close to 60% income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes. “The move comes amid banks reporting over Rs 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the 500 and 1,000 rupee notes were banned, which authorities apprehend may be the laundered black money.”

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November 26, 2016 Posted by | Economics | , , , , | 1 Comment

Italy’s Vote Could Spark Fresh Eurozone Financial Crisis, Warns European Central Bank

Italy-banks-crisis-Renzi

  • Italy’s Vote Could Spark Fresh Eurozone Financial Crisis, Warns European Central Bank  
    by LANA CLEMENTS, http://www.express.co.uk/  
    GROWING populism within the eurozone – and sweeping in from the Atlantic – could have devastating consequences for the bloc’s future, the European Central Bank (ECB) has warned.

    Europe’s top monetary policymakers issued a stark alert ahead of Italy’s constitutional referendum on December 4, which threatens another hammer blow to the crumbling European Union (EU).

    It’s feared Brexit and the US election of Donald Trump at the start of the month has fuelled anti-Brussels sentiment in the eurozone, which now poses a serious risk to the bloc’s financial stability.

    ECB vice-president Vitor Constancio said he is closely watching the outcome of Italy’s vote amid rising concerns the outcome could spark a meltdown worse than last year’s Greek debt crisis. If Italian leader Matteo Renzi loses the vote, it’s thought the anti-euro 5-Star Movement could take over as ruling party – and refuse to pay back the country’s debts.

    Mr Constancio said the ECB would react to any “economic shock” from the vote. He said: “It’s the sort of political uncertainty that will trigger or not an economic shock in financial markets. “And depending on the degree of that shock, then we have to see if we have anything to do or not.” The market risk assigned to Italian government debt has shot up in recent weeks.

    read more.
http://www.express.co.uk/news/world/731484/Italian-referendum-shockwaves-European-Union-financial-markets

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http://www.express.co.uk/news/world/691326/Italy-prime-minister-Matteo-Renzi-political-financial-break-down-Eurozone-European-Union

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November 26, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , | 1 Comment

Dr. Jim Willie: Golden Jackass with Turd Ferguson — ThanksGiving

www.goldenjackass.com

Click on image to play interview MP3 file!

  • Gobble Up Some Jackass
    by Turd Ferguson, http://www.tfmetalsreport.com/ , 24 Nov 2016 
    It’s a market holiday weekend so you know what that means….fresh Jackass for your listening pleasure! In this wide-ranging conversation, The Jackass and I discuss:

    * the U.S. election results
    * the roiling global markets post-election
    * what the turmoil in the currency markets may suggest
    * how changes in global interest rates will impact the global economy and markets
    * the impact higher rates are having on hyper-levered balance sheets
    * AND MUCH, MUCH MORE.

    Enjoy and Happy Thanksgiving to all!
    TF

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November 25, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Breaking News on the War on Cash: Now Spain

http://www.wsj.com/articles/the-political-war-on-cash-1455754850

Click on image for article. Needs subscription.

https://www.biblegateway.com/passage/?search=Revelation+13%3A16-18&version=NKJV

  • Breaking News on the War on Cash: Now Spain
    by India, Uruguay, Australia and now Spain. The Minister of Finance and Public Service, Cristóbal Montoro has reportedly just announced “anticipated measures in order to ‘reduce the use of cash.’

    In other words, Spain is going to make cash transactions even more difficult. As of presstime, from what we can tell, this has yet to be reported anywhere in English media except here now at TDV.

    As you can see, the chaos is increasing. Combine cash bans with attacks on fake news (more on that tomorrow), and you end up disturbing a significant amount of people as we wrote here recently.

    This amounts to a trend of course, of the sort we’ve been analyzing for several years now. We’ve predicted increased social chaos throughout the West and beyond because globalism is not built by votes but by violence and widespread disaffection that allows globalist “solutions” to be rammed home.

    I expect “cash banning” to be speeded up along with selected attacks on the alternative media – as part of a larger effort to create widespread social dissension. People believe attacks on cash and “news” are what they seem to be on the surface. They are not. They are part of a much deeper strategy that involves additional globalism. We’ve expected just these sorts of actions and have profited from them for the past several years along with our newsletter subscribers. We await more of the same.

    Currently, violence spawned by this anti-cash trend can be seen in such countries as Uruguay and India where cash banning on large bills has ignited significant social chaos already. India is in the throes of riots while Uruguay has been hit with a nationwide strike aimed in part at derailing a mandate that all employers must pay employees electronically via a bank account, starting as soon as March.

    You won’t read much about the results of cash banning because the mainstream media won’t cover it, but the moves are doing their job, which is in part to inflict maximum social damage and make people aware that nothing they think they control is really theirs.

    read more.

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http://www.infowars.com/federal-reserve-manufactures-greater-recession/

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http://www.infowars.com/financial-times-calls-for-abolishing-cash/

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November 25, 2016 Posted by | Economics, EndTimes, Social Trends | , , , , , , , , | 2 Comments

Relentless Dollar Surge Continues: Asian Currencies Plunge To 7 Year Lows, Hitting Emerging Markets

dollar_surge_usdx-23nov2016

  • Relentless Dollar Surge Continues: Asian Currencies Plunge To 7 Year Lows, Hitting Emerging Markets
    by Tyler Durden, http://www.zerohedge.com 
    While most global equity markets were subdued due to the US Thaksgiving holiday, the FX world was very busy overnight, marked by the relentless dollar surge on expectations of a rate hike not only in December but further in 2017, sending Asian currencies to the weakest level in 7 years: the Bloomberg-JPMorgan Asia Dollar Index reached 103.32, the lowest level since March 2009.

    The regional FX plunge will likely deter regional central banks from easing monetary policies as the prospects of higher U.S. rates spurred capital outflows according to Toru Nishihama, an emerging-market economist at Dai-ichi Life Research Institute who added that depreciating currencies are making it very hard for central banks to ease on concerns about inflationary pressure and acceleration of fund outflows.

    read more.

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November 25, 2016 Posted by | Economics | , , , | Leave a comment

Corbett Report: Nomi Prins Explains The Central Bankers’ Game of Thrones

  • Published on Nov 22, 2016
    SHOW NOTES AND MP3: https://www.corbettreport.com/?p=20523 

    Today James talks to Nomi Prins, author of books like All The Presidents Bankers, about her recent article “The Central Bank Power Shift from West to East, Game of Thrones Style.” We talk about the changing economic and monetary landscape and how the locus of central bank power is shifting to the East, with players like the People’s Bank of China gaining in prominence and former US/EU lapdogs like the IMF becoming brokers for these new power players in the new world financial order.

Carroll_Quigley_Tragedy_n_Hope2

Charles_Lindberg_on_FedRes

Who owns the world reserve currency, the dollar, the global monetary hegemony? Look at the Satanic capstone on your dollar bill. The Luciferian New World Order will be complete with the arrival of the Satanic capstone: the Anti-Christ, fake messiah, bringer of false peace, the white horseman of Revelation 6!

Who owns the world reserve currency, the dollar, the global monetary hegemony? Look at the Satanic capstone on your dollar bill. The Luciferian New World Order will be complete with the arrival of the Satanic capstone: the Anti-Christ, fake messiah, bringer of false peace, the white horseman of Revelation 6!

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November 24, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | 1 Comment

Physical Gold Buying Soars In Asia

  • Physical Gold Buying Soars In Asia  
    by Dave Kranzler, 17 Nov 2016, http://investmentresearchdynamics.com/
    Gold was pushing $1230/oz overnight, as the methodical take-down of gold and silver in the NYC and London paper markets has triggered an avalanche of demand for physical gold in the eastern hemisphere.

    Last night ex-duty import premiums in India were $14 over spot gold.  In Shanghai the premium to world gold was $9.76.  Delivery volume into the Shanghai Gold Exchange rocketed to an extraordinary 86.55 tonnes (it was 35.9 tonnes on Wednesday).  The open interest on the SGE was 807 tonnes.  To one observer’s recollection, John Brimelow of John Brimelow’s Gold Jottings, this is the first time the open interest has been over 800 tonnes.

    In Viet Nam the premium paid by the public was $90 over world gold.  The spread has been wider over the last 15 years, but not much and only during times when there’s been high “backwardation” between the physical delivery bullion markets in the east vs. the fraudulent paper gold markets in London and NYC.

    To reinforce this nebulous idea of gold flowing from west to east, and unusually high amount of gold was shipped out of the Comex kilo bar vaults yesterday.  320,434 ozs left the Comex.  Over 12,000 kilobars have left JP Morgan’s kilobar vault account in the last two days.  This is being attributed as evidence of Asia’s voracious demand right now, as NY and London – when those two conduits actually clear real metal – trade 400oz LBMA grade bars whereas Asia prefers kilobars.

    The price of gold is being attacked right now in a manner that is quite reminiscent of the way it was attacked in the summer of 2008, right before the global financial markets collapsed, led by the fall of Lehman.

    Something really ugly is coming toward the global economic and financial system.   The dollar index soared from 72 to 86 between June 2008 and October 2008, while gold and silver were systematically taken a lot lower.   We know how that played.

    read more.

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November 24, 2016 Posted by | Economics | , , , , , , , , , , , , , , , , | Leave a comment

David Morgan: Record Run into Gold And Silver Coming

  • David Morgan: Record Run into Gold and Silver Coming
    by Greg Hunter’s USAWatchdog.com
    Precious metals expert David Morgan says trillions of dollars of negative interest rate paying bonds is a sign we are getting close to another financial calamity bigger than the last. Morgan explains, “Now, as everyone knows, we are even at negative interest rates, and people are buying into this.  They are guaranteed to get less back. . . . This is the upside-down world we are living in.  This is the scientific planet that is our reality.  So, this is the reason you will see a run to the dollar before you see a run to gold. . . . We are in the final step before another 1% of the population takes action into the precious metals.  When the run starts, it won’t be because 90% of the population wakes up and says I need precious metals to protect my financial wellbeing.  What will happen is another 1% will wake up and say I need precious metals to protect my financial wellbeing.  That will double the market.  The physical gold market is less than 1% of all financial assets, and the silver market is about .02% of all financial assets.  So, it doesn’t take a big amount of new money to put the paper price at stratospheric levels, and that’s what will take place.  When people don’t trust the dollar they are holding in their hands, when that happens, there will be a run into gold that will be in the financial record books. . . . The dollar is going up, up and up, and it will peak.  Once it starts down, it will start down kind of slowly, and then, it will build momentum.  Then, it will hit terminal velocity.  It will hit a level that it has accelerated to its maximum point and will continue until it hits the ground. . . . As that occurs, more and more people will be motivated to move into the precious metals.  The door is very narrow, and there will be a big flood of people wishing to get through that door.  It’s going to come down to you will either have it or you won’t.”


    On the question of whether or not Trump will prosecute the Clintons about pay-to-play accusations and the Clinton Foundation, Morgan says, “Certainly this is like the interest rate swaps, and all these global entities in the global banking system are interconnected. I mean if you have a failure in one, it’s systemic.  It goes throughout the whole system.  That’s a good analogy for the Clintons.  This failure of the Clinton dynasty goes throughout the entire system.  They are so connected and it goes across party lines.  There is no doubt about that.”  So, there is no telling how the Clinton question will actually play out.

    Will the Trump Administration have an economic calamity in the bond market because of the heavy global debt load? Morgan says, “Yes, something will take place before the four years is over.  I can almost guarantee that.  The math is just too simple to see, and you are already seeing it in the bond market.  I am very confident because how the bond market is reacting and the amount of paper that has been pushed upon the system that cannot tolerate any more.  Things will unravel in some way, shape or form. . . . I think before that four year time frame (Trump’s first term) is over, we are going to see that big thrust into the precious metals.”

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November 24, 2016 Posted by | Economics | , , , , , , , , , , , , , , , | Leave a comment

We Need A Reset & A Debt Jubilee, The Economic Outcome Will Be Devasting: Jeff Nielson

November 24, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

James Rickards: The Road to Ruin — The Global Elites’ Secret Plan For The Next Financial Crisis

  • Wake Up with Steve Curtis – 22 Nov 2016 
    Steve’s guest is James Rickards; author of “The Road to Ruin – The Global Elites’ Secret Plan For The Next Financial Crisis”. The global economy has made what seems like an incredible comeback after the financial crisis of 2008. Yet this comeback is ARTIFICIAL – that’s according to New York Times bestselling author JAMES RICKARDS.

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November 24, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Bill Holter: Comex Physical Gold & Silver Deliveries — The Elephant in The Room?

  • An Elephant In The Room? 
    by , http://www.jsmineset.com/  
    Here we are again, just six days away from a major COMEX gold (and silver) delivery month with a huge outsized amount of contracts outstanding versus deliverable inventory. For a background, COMEX holds 2,083,000 (nearly 65 tons) of registered gold. This amount is much higher than it was last December when it stood at a miniscule 152,000 ounces (4.7 tons).

    Since May of this year, something has drastically changed in the monthly amounts delivered. For all of 2015, only 51 tons were delivered which amounted to about 4.25 tons per month. If you recall, many months would arrive at first notice day with a huge amount of contracts open, only to see the contracts evaporate before the close of the delivery period. I postulated then and still believe, contract holders were offered premiums to “just go away” and not take delivery. I cannot prove this but you must ask, why someone would FULLY FUND their account to take delivery and then not follow through. It makes no sense other than if they were enticed not to take delivery after placing the full amount of funds in their accounts to settle delivery.

    So far this year, 191 tons have stood for delivery, 168 of those tons since May. The average delivery since May has been over 24 tons per month with only two of the seven months being a traditional delivery month. June and August amounted to nearly 93 tons alone. The change since May has been astonishing. Rather than contracts being “bled down” each month (enticed by premiums offered?), nearly every single month has had more standing by the end of the month than were at the beginning of the month (nearly double in some cases). Another big change is, previously, the bulk of deliveries would be withheld until just before the end of the delivery period. Now, massive deliveries are being made on the 2nd, 3rd and 4th delivery days of the month. Please remember, it makes no sense to “wait” to make a delivery as storage fees add up for each day …it seems to me that it is now known that many contract owners cannot be enticed with premiums!

    So why has this begun to happen, why are more contracts demanding delivery and why are they jumping queue and opening more contracts during expiration? I believe it is simply because there is either a greater “need or desire” for gold. If I had to guess, I believe the new and different demand is in large part a function of the Shanghai Gold Exchange opening in September. Immediately after opening, we saw close to $4 premiums for gold (versus COMEX and LBMA pricing) and around .50 cent premiums for silver. These premiums are now recently much higher! For the last few weeks these premiums have grown to the $10-$12 range for gold and over $1 for silver. The premiums shot up on Monday to $20.33 for gold and $1.35 for silver. This is obviously more than generous enough to allow massive arbitrage to occur.

    read more.

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November 24, 2016 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

We Are Being Set Up For Higher Interest Rates, A Major Recession And A Giant Stock Market Crash

US_Govt_preparing_for_Collapse

  • “Obama Set Up the Next President For a Major Recession”… And A Giant Crash Is Coming
    by Michael Snyder, November 21st, 2016, Economic Collapse Blog 
    Editor’s Comment: The past many months have carried a lot of noise about the coming crash, about a tipping point that may be fast approaching. The economics are simply giving way, and they can’t hold the illusion forever. Now that Donald Trump will be calling the shots, the money powers can usher in collapse if they wish, and have ready their scapegoat. It won’t just be Trump the man or the president, but the people who elected him, who backed Brexit and who gave up on their system. They people who let loose the chaos that now consumes us.

    Their rage, their anger and their desperation is brewing unrest. The ascent of populism in the political arena has put the establishment in retreat, and revealed, at last, a most dangerous atmosphere, from which collapse can properly precipitate … one in which all regulatory steadiness on the part of the system has been thrown off balance and out of whack by popular revolt. By the time the hammer falls, and the markets fall to the ground, the people rioting in the streets and losing their civility when ATMs stop working and store shelves go empty – these people will become the face of the disaster. The banks have been planning the next rise and fall for sometime; the next phase is all digital, and tightly monitored and controlled.

    We Are Being Set Up For Higher Interest Rates, A Major Recession And A Giant Stock Market Crash
    by Michael Snyder

    Since Donald Trump’s victory on election night we have seen the worst bond crash in 15 years.  Global bond investors have seen trillions of dollars of wealth wiped out since November 8th, and analysts are warning of another tough week ahead.  The general consensus in the investing community is that a Trump administration will mean much higher inflation, and as a result investors are already starting to demand higher interest rates.  Unfortunately for all of us, history has shown that higher interest rates always cause an economic slowdown.  And this makes perfect sense, because economic activity naturally slows down when it becomes more expensive to borrow money.  The Obama administration had already set up the next president for a major recession anyway, but now this bond crash threatens to bring it on sooner rather than later.

    For those that are not familiar with the bond market, when yields go up bond prices go down.  And when bond prices go down, that is bad news for economic growth. So we generally don’t want yields to go up. Unfortunately, yields have been absolutely soaring over the past couple of weeks, and the yield on 10 year Treasury notes has now jumped “one full percentage point since July”… 

    read more.

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November 23, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , | Leave a comment

James Rickards: End Game for the Global Economy

  • Published on Nov 18, 2016
    On Mises Weekends this week, James Rickards joins Jeff to discuss The Road to Ruin, his latest book outlining what financial elites have planned for the next financial crisis. Rickards highlights a number of policy tools governments and central bankers have created for themselves, and points to their handling of recent crises in Cypress and Greece bail-in approach as patterns for the rest of the world.


    But, with the Federal Reserve and their peers around the world still unable to normalize their balance sheets following 2008, the real question is: “who is going to bail out the central banks?” Jeff and Jim discuss the answer to that question—and how people can protect themselves—in an interview you won’t want to miss.

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November 23, 2016 Posted by | Economics | , , , , , , , , , , , , , , , , , , | Leave a comment