Socio-Economics History Blog

Socio-Economics & History Commentary

Russia-China Combined Gold Reserves Could Shake US Dominance in Global Economy – Expert Tells RT

  • Russia-China Combined Gold Reserves Could Shake US Dominance in Global Economy – Expert Tells RT
    The gold accumulated by China and Russia could be seen as part of a strategy to move away from international trade denominated in US dollars, according to Singapore’s BullionStar precious metals expert Ronan Manly.

    Manly exclusively told RT that there is a shift occurring regarding the two countries building up their gold reserves, to perhaps returning to gold-backed currencies in the future and a move away from the global dominance of the US dollar, which is no longer supported by gold.

    “China and Russia have both been aggressively accumulating their official gold reserves over the last 10 – 15 years,” he said, adding that only a decade ago each of them held around or less than 400 tons. “But now both these nations hold a combined 3670 tons of gold.”

    “Interestingly, both Russia and China publicize and promote their accumulations of gold and publicly refer to gold as a strategic monetary asset. They make no secret of this. But on the flipside, the US does the opposite, and constantly downplays the strategic role of gold.”

    According to Manly, for Russia and China gold is the only strategic monetary asset that could provide independence from the US dollar. Manly said the sides could conceivably be holding a lot more gold than they declare in their official reserves due to many channels through which they could buy the precious metal.

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January 9, 2018 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Gregory Mannarino: Deficits and Debt Will Explode Higher

  • Gregory Mannarino: Deficits and Debt Will Explode Higher
    by Greg Hunter’s
    Analyst/trader Gregory Mannarino is not bullish on the US dollar, and that should worry the man on the street. Mannarino explains, “Inflation is going to be the theme of 2018.  How do we know this is going to be the case?  Let’s look at what happened to the dollar last year. . . . The dollar got melted down last year, and this trajectory has been going on for decades.  It’s just getting progressively worse, and it’s going to continue this year.  It’s amazing to me to think that anyone thinks the dollar is going to get stronger from here.  President Trump wants a weak dollar.  He wants to keep the dollar low in relation to other currencies. . . . The weaker dollar is stock market positive.”

    On the ever expanding debt, Mannarino says, “Central banks have to continue supporting the markets by printing more cash out of thin air and inflating bubbles even worse. The debt bubble and deficits are going to get worse, and there’s no way out.  So, this is stock market positive. Distortions are getting worse, and valuations are getting more distorted than they already are. . . .  The whole system is so twisted and so rigged, every aspect is fake. . . Everything is going to inflate.  That includes the market, that includes debt, that includes deficits, and that includes distortions that will inflate and get worse until we hit that moment this all smacks up against a wall.”

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January 9, 2018 Posted by | Economics | , , , , , , , , , , , , , | Leave a comment

Jim Willie: Return to the Gold Standard

Click on image to download MP3 interview.

  • Jim Willie: Return to the Gold Standard
    January 7th:  a first show with the good pastor, which included a long introduction of the Jackass with background, then a free rein to hit on a great many diverse topics related to the unsound monetary system and its inevitable decay decline and demise, which will yield in favor of the Gold Standard, first to be seen in trade payment and finally seen in the banking system.


January 9, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Leave a comment

SHOCKING: Fed Transcript Reveals Entire Market Will COLLAPSE When Interest Rates Rise!

January 8, 2018 Posted by | Economics | , , , , , , , , , , | Leave a comment

This Is Why You Need To Pay Attention To Gold!

  • Press For Truth Published on Jan 5, 2018
    There is something happening with gold and you need to pay attention. Gold has risen over $60 in just the last 3 months the largest rise it’s seen since 2011. Are these signs of troubling times to come ahead and is now a good time to buy? In this video Dan Dicks of Press For Truth speaks with Lior Gantz of Wealth Research Group about the latest trends with gold and what that may imply while also giving his top picks for commodities and companies worth investing your assets in moving forward in 2018.


January 8, 2018 Posted by | Economics | , , , , , , | Leave a comment

We Are In A Giant Ponzi Scheme, The Physical Economy Is Not Growing: Harley Schlanger

January 6, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | 1 Comment

Petro-Yuan Looms: How China Will Shake Up The Oil Futures Market

  • Petro-Yuan Looms: How China Will Shake Up The Oil Futures Market
    by Tyler Durden,
    The “huge story”,as Graticule’s Adam Levinson called it, will, it appears, be a “wake up call” for the West that seems to happily be ignoring this potential bombshell that is China’s looming launch of domestic oil futures trading.

    Additionally, Levison warns Washington that besides serving as a hedging tool for Chinese companies, the contract will aid a broader Chinese government agenda of increasing the use of the yuan in trade settlement… and thus the acceleration of de-dollarization and the rise of the Petro-Yuan.

    “I don’t think there’s any doubt we’re going to see use of the renminbi in reserves go up substantially”

    China has been planning this for a number of years
     and given rising tensions, now seems like a good time for China to flex a little. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest — a first for China’s commodities markets — because the exchange is registered in Shanghai’s free trade zone. Even  Bloomberg admits there are implications for the U.S. dollar’s well-established role as the global currency of the oil market, as Sungwoo Park sums up some of the key questions

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January 5, 2018 Posted by | Economics, GeoPolitics | , , , , | Leave a comment

Pakistan Ditches Dollar In Trade With China In Retaliation For Trump Twitter Meltdown

  • Pakistan Ditches Dollar In Trade With China In Retaliation For Trump Twitter Meltdown
    by Tyler Durden,
    Less than a day after President Trump slammed Pakistan on Twitter for failure to combat terrorism, stating, “It’s not only Pakistan that we pay billions of dollars to for nothing, but also many other countries, and others,” and after it was revealed that the US will withhold $255 million in aid, Pakistan’s central bank announced it will be replacing the dollar with the yuan for bilateral trade and investment with China. 

    “SBP has already put in place the required regulatory framework which facilitates use of CNY in trade and investment transactions,” the State Bank of Pakistan (SBP) said in a press release late Tuesday, ensuring that imports, exports and financing transactions can be denominated in the Chinese currency.

    “The SBP, in the capacity of the policy maker of financial and currency markets, has taken comprehensive policy related measures to ensure that imports, exports and financing transactions can be denominated in yuan,”
     Dawn news, Pakistan’s most widely read English-language daily, announced while quoting the SBP press release.

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January 5, 2018 Posted by | Economics | , , , , | Leave a comment

The Paradigm Shift That Is Approaching Will Shutdown The Credit System: Lior Gantz

January 4, 2018 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

Pakistan’s State Bank Green Lights Yuan-Based Trade With China

  • Pakistan’s State Bank Green Lights Yuan-Based Trade With China
    The State Bank of Pakistan (SBP) has announced that all arrangements for using the Chinese currency for trade and investment are already in place.

    The central bank of Pakistan has given permission for the Chinese yuan to be used for investment and bilateral trade deals, which will eventually replace the dollar in Pakistan-China trade.

    The increase in trade and investment with China under the China-Pakistan Economic Corridor (CPEC) makes it easier for Pakistan to see that CNY-denominated trade with China will increase significantly and will provide with long term benefits for both the countries.

    “SBP has already put in place the required regulatory framework which facilitates use of CNY in trade and investment transactions,” the press release of the central bank stated.

    In late December Pakistan’s Minister for Planning and Development Ahsan Iqbal said that the government was considering a Chinese proposal to use the renminbi or yuan instead of the US dollar for payments in all bilateral trade.

    The minister further said that China had not stopped CPEC-related investments in Pakistan and all projects had been identified and committed to by both sides. The areas of cooperation include connectivity, energy, trade and industrial parks, agricultural development and poverty alleviation, tourism, people’s livelihood and exchange programs and financial cooperation, Dawn news reported.

    Pakistan and China have also agreed to establish and improve cross-border credit systems and financial services. In the near future plans strengthening currency swap arrangements and the establishment of a bilateral payment and settlement system will also take place.

    Hence with the central bank’s approval this cooperation will take on another dimension as it means that Pakistani and Chinese banks will, in the course of time, be able to open import letters of credit in rupees and yuan.

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January 4, 2018 Posted by | Economics | , , , , , , | Leave a comment

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
    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.

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January 3, 2018 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

Ringing In 2018 With Jim Willie

Click on image to play the MP3 interview.

  • Ringing In 2018 With Jim Willie
    by Turd Ferguson,
    Our old friend, Jim Willie, joins us for our annual tradition where we wrap up the year that was and look ahead to the year that will be. As we like to do, we simply had three primary topics for The Jackass. The questions are framed and then Jim fills in the blanks. As we wrap 2017 and look toward 2018, the topics are:

    1. Interest rates, QE and the global bond market
    2. The accelerating movement toward de-dollarization and risks to the petrodollar
    3. How geo-politics and war are impacted by #2 above

    You’ll no doubt enjoy this 65-minute call. It’s going to be a wildly unpredictable and volatile 2018. My hope for everyone listening is that it begins with a safe and relaxing New Year’s weekend.


January 2, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Fatal Blow to The Petro-Dollar Coming into View in 2018 | Jim Willie

  • Published on Dec 31, 2017
    The U.S. Dollar is not ruling the seas of global commerce anymore. In 2018, non-Dollar platforms will continue the Dollar’s decline, Dr. Jim Willie tells Silver Doctors. The Dollar has been the world reserve currency for decades, but the increase of non-Dollar trade is threatening the Dollar’s dominance.


January 2, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Will the Petroyuan Kill the Petrodollar?

  • Will the Petroyuan Kill the Petrodollar?
    by Ivan Danilov,
    You know that the jig is up for the petrodollar when the best argument its apologists can come up with is that “the petrodollar system is bad, but a petroyuan system will be worse.” Of course, the petrodollar won’t be dethroned tomorrow, but the writing is definitely on the wall.

    China is expected to launch its first yuan-denominated oil futures contract in 2018, and that will mark the beginning of the end for the dollar’s domination of the global oil trade.

    The threat of the petroyuan is now considered serious enough to warrant a hatchet job published in The Wall Street Journal. It the article “China’s Bid to Dominate Oil Pricing Will Fail,” Nathaniel Taplin lists a whole bunch of reasons China’s attempts to establish an alternative pricing and trading mechanism for the global oil trade is doomed to failure. However, the arguments presented in the article all boil down to a single thesis: the Chinese leadership is so inept, that it will surely botch every aspect of the petroyuan project launch. That’s a brave, bold and wrong assumption.

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January 2, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Ron Paul: ‘We Are On The Verge Of Something Like What Happened In ’89 When The Soviet System Just Collapsed’

  • Ron Paul: ‘We Are On The Verge Of Something Like What Happened In ’89 When The Soviet System Just Collapsed’
    by The godfather of the Tea Party movement and perhaps the most prominent right-leaning libertarian in America, Ron Paul, believes the economic boom the United States experienced under President Trump could be a “bit of an illusion.” Mr. Paul sees inequality, inflation, and debt as real threats that could potentially cause a turmoil.

    In a recent interview with the Washington Examiner, Paul said, “We’re on the verge of something like what happened in ’89 when the Soviet system just collapsed. I’m just hoping our system comes apart as gracefully as the Soviet system. We have ownership of these countries, but it’s not quite like the Soviets did. I think our stature in the world and our empire will end, and that’s when, hopefully, the doors will be open.”

    The crumbling of America’s “overseas empire,” as Mr. Paul calls it, could be a chance for the libertarian movement to captivate the country’s imagination by 2020. The fact that the system is coming apart could be a big opening for the libertarians, Paul claims. However, it is not just Trump administration’s foreign policy that could play a part in this. Paul considers the entire U.S. economy to be a bubble and an illusion built on governmental, corporate, and personal debt.

    The former politician and host of the popular Ron Paul Liberty Report podcast has been a vocal critic of the NSA’s surveillance program, the USA PATRIOT Act, the War on Drugs, and the government’s fiscal policies as a whole. Interestingly, the topic of one of Mr. Paul’s recent podcasts was bitcoin.

    “The government, for its own reasons, monopolized the creation of money. Money originated in the marketplace. Let people sort it out,” he says.

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