Socio-Economics History Blog

Socio-Economics & History Commentary

The Establishment Wants To Remain In Power & They Will Do Anything To Keep It: David Robertson

January 17, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Germany’s Vice Chancellor Warns of Europe Breakup

  • Published on Jan 7, 2017
    Germany’s Vice Chancellor has warned about the possible collapse of the European Union due to Berlin’s push for austerity policies in the euro zone. Sigmar Gabriel says Berlin’s insistence on austerity has left Europe more divided than ever and a break-up of the EU is no longer inconceivable. He says strenuous efforts by countries like France and Italy to reduce their fiscal deficits come with political risks which might lead to the rise of the far-right to power. Far-right politicians want their countries to leave the EU. Gabriel believes if that happens, Germany’s next generations will curse the current officials.
http://www.express.co.uk/news/politics/711387/European-Union-Juncker-plan-economy-army-Brussels-led-superstate

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http://www.express.co.uk/news/politics/711387/European-Union-Juncker-plan-economy-army-Brussels-led-superstate

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January 8, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Central Bankers Are In The Process Of Banning Cash One Country At A Time

  • Published on Jan 3, 2017
    Trump lashes out at GM and Ford and says will impose border tax if jobs are moved out of the country. Manufacturing survey is detached from the hard data, industrial production declining. Pension systems around the country are worse off than everyone realizes. Inflation hits Germany. Greece implements a soft cash ban, the central bankers are slowly banning cash one country at a time. Finland starts helicopter money drops to push spending. EU leaders are now worried that more countries are going to vote to exit the EU. Britain’s EU ambassador resigns before the BREXIT. The system is coming apart and the central bankers/Elite will react to save it.
http://english.pravda.ru/news/business/19-05-2015/130638-cash-0/

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http://www.armstrongeconomics.com/archives/30862

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http://www.bloomberg.com/news/articles/2016-05-02/inside-the-secret-meeting-where-wall-street-tested-digital-cash

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

German Institution Predicts Possible Italy Exit of Eurozone

  • Published on Jan 2, 2017
    A German research institution says Italians will seek to quit the euro currency if their standard of living does not improve. Ifo chief Clemens Fuest says the standard of living in Italy has remained the same since 2000 and if the situation is not changed, Italians will choose to leave the eurozone. Italy is eurozone’s third-largest economy, but its stock market has been the worst performer in Europe last year. Italy is hit with financial problems in its banking system. The country has recently approved a bailout plan to help the struggling banks.

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

Jim Willie: For Auld Lang Jackass

Click on image to download MP3 interview.

Click on image to download MP3 interview.

  • Jim Willie: For Auld Lang Jackass
    by Turd Ferguson, http://www.tfmetalsreport.com/
    One year ends and a new one begins. That means it’s time to take stock of where we’ve been and where we’re going and few are better at pointing the way than The Golden Jackass. For this call, I asked Jim to primarily focus his comments on three, specific areas of interest for 2017:

    1. The global bond market, QE and interest rates
    2. The Italian and Eurozone banking sector
    3. The Trump Administration versus The Established Elites

    As usual, I think you’ll find this entertaining and very informative. Enjoy the show and be sure to have a safe and relaxing New Year’s weekend.

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January 2, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | 1 Comment

EURO ON THE BRINK: Investors Predict Currency COLLAPSE as Italy ‘Worry Child Number One’

italy-ecb-euro-collapse

  • EURO ON THE BRINK: Investors Predict Currency COLLAPSE as Italy ‘Worry Child Number One’  
    by SIOBHAN MCFADYEN, http://www.express.co.uk/
    ONE in five investors is predicting a Eurozone breakup, a survey has revealed, amid fresh fears Italian banks could be first to be allowed to go bust.

    According to the latest Sentix Euro Break-up Index data captured just before Christmas, 21.8 per cent of 933 investors questioned believe Italy could end up leaving the Eurozone as its banks struggle with a liquidity crisis. Sentix CEO Manfred Hübner said: “Italy remains the euro-worry child number one, even before Greece.”

    Last week new Italian Prime Minister New Paolo Gentiloni approved £17bn in public funds to help stabilise his country’s most fragile financial institutions. The crisis began to show cracks of earthquake proportions when the European Central Bank announced the results of the 2016 bank stress tests on July 29.

    They identified Italian banks as being £307bn in the red thanks to bad loans which make up 18 per cent of total bank balance sheets. Also causing concern is their chronically poor profitability, record-low interest rates, thin capital buffers and high costs. Since July the ECB has repeatedly dragged its heels in offering a bail out.

    read more.

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December 28, 2016 Posted by | Economics | , , , , , , , | Leave a comment

The Italian Bank Run: Monte Paschi Capital Shortfall Surges 75% To €8.8Bn Due To “Rapid Liquidity Deterioration”

Bank_Panic_in_Italy

  • The Italian Bank Run: Monte Paschi Capital Shortfall Surges 75% To €8.8Bn Due To “Rapid Liquidity Deterioration” 
    by Tyler Durden, http://www.zerohedge.com 
    While the big news last week was that Italy’s third largest bank, Monte Paschi, had been nationalized after JPM destroyed the bank’s chances of securing a private-sector rescue, and that Italy would issue up to €20 billion in public debt to fund the bailout of this, and other insolvent Italian banks, it appears there may be more moving parts to the story.

    Recall that as we warned, the biggest danger for both Monte Paschi, and Italy’s banking system in general, is that retail depositor confidence in the Siena bank is shaken enough to lead to a bank run either in the world’s oldest bank, or worse, across the entire Italian banking sector, leading to a worst case probability outcome of falling bank dominoes as bank funding needs explode, resulting in even more deposit outflows, and so on in a toxic feedback loop.

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December 27, 2016 Posted by | Economics | , , , , , , | 1 Comment

BAILOUT: Italy Saves Bank as ECB Balance Sheet Shows EXPONENTIAL Growth!

December 26, 2016 Posted by | Economics | , , , , , , | Leave a comment

Big Money Placing Bets On A Financial IMPLOSION?

  • Published on Dec 22, 2016
    https://sdbullion.com/silver 

    http://www.silverdoctors.com/precious… 
    Doc & Dubin Are Back, Breaking Down the Chaotic Market Action:  

    *This Time Eric Is Worried: Bond Crash To Trigger A Blow Off Top in Precious Metals Within 2 Years?
    *”I’ve Never Seen Anything As Insane As What We’re Seeing Right Now- Things Are Gonna Break In 2017″
    *Italian Banking Crisis: FX Markets EXPLODE
    *Eric Catches A RED FLAG: Big Money Placing Bets On A Financial IMPLOSION?

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

European Banking Bloodbath Spreads To Spain After Italy Fires €20 Billion “Bazooka” At €360 Billion Problem

Eurozone_Collapse

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December 22, 2016 Posted by | Economics | , , , , , | Leave a comment

Deutsche Bank Failure Will DESTROY the ENTIRE European Banking System, Top Analyst Says

deutschebank_could_collapse_entire_financial_banking_system

  • Deutsche Bank Failure Will DESTROY the ENTIRE European Banking System, Top Analyst Says 
    by JON ROGERS, http://www.express.co.uk/
    A SENIOR financial analyst has claimed that if Deutsche Bank is allowed to fail it will collapse the entire European banking system.

    Ewen Cameron Watt, a senior director at investment managers Blackrock Investment Institute, told CNBC: “If Deutsche Bank doesn’t make it, forget European banks as a whole.” “I think if you look at Deutsche Bank, what John Cryan (Chief Executive, Deutsche Bank) is doing is trying to lead a very long march back to a sustainable model. “They have got through a lot of harder stuff but there are still many mountains ahead.”

    The bleak warning comes after Deutsche Bank, the country’s largest lender, is facing a huge fine of $14billion (£11billion) from the US Department of Justice for the mis-selling of residential mortgage-backed securities in the run-up to the 2008 financial crisis.

    Mr Watt added: ”If the bank can remain solvent and the bail-in is not too severe then it is a bit like someone having a heart attack and the defibrillator is put on them and they recover. “They are not well but the proportion between the moment when things are applied to them and their recovery is a big change for the individual.”

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December 21, 2016 Posted by | Economics | , , , , , , , | Leave a comment

Eurozone COLLAPSE Fears as Italy Demands £17BILLION Bailout to Prop Up Its ‘Doomed’ Bank

Bank_Panic_in_Italy

  • Eurozone COLLAPSE Fears as Italy Demands £17BILLION Bailout to Prop Up Its ‘Doomed’ Bank 
    by LANA CLEMENTS, http://www.express.co.uk/
    ITALY is preparing to pump billions of pounds into its crisis-hit banks amid rising fears of a financial crisis that could destroy the eurozone.

    Rome asked for parliamentary approval to borrow €20billion (£16.8bn) to prop up troubled lenders, including Monte dei Paschi di Siena (MPS). Italy’s oldest bank is running out of time to find a solution to its €40bn (£33bn) book of bad loans. If MPS doesn’t find more cash by the end of the year, it will be wound down by the European Central Bank (ECB), which could spark a crisis of confidence in the country’s financial sector.

    The lender is now pushing ahead with a desperate attempt to raise around £4.2billion (€5bn) of private cash, as part of a plan to stay afloat and protect its retail investors. But the plan is expected to fail, meaning Rome will have to step in.

    Italy’s Economy minister said the money it was seeking could be used to keep the banking system afloat. He said: “These resources could also be used as part of a programme to boost capital at banks.” 

    Under European Union rules, any bailout by the Government must be accompanied by losses for Italian savers and pensioners with bonds in the bank. The move is set to be politically explosive the week-old administration of Prime Minister Paolo Gentiloni.

    read more.

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December 21, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

END OF THE EU? Top Economist Warns Brussels’ Death is NEAR And The World Should Prepare

http://www.express.co.uk/news/politics/742755/European-Union-Eurozone-Brussels-Jean-Claude-Juncker-Renzi-Le-Pen-economy-Brexit

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http://www.express.co.uk/news/politics/711387/European-Union-Juncker-plan-economy-army-Brussels-led-superstate

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http://www.express.co.uk/news/politics/711387/European-Union-Juncker-plan-economy-army-Brussels-led-superstate

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December 13, 2016 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , , | Leave a comment

The Eurozone is Teetering on the Brink – Britain Might Soon be the EU’s Only Friend

Eurozone_Collapse

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December 12, 2016 Posted by | Economics, GeoPolitics | , , , , , , | Leave a comment

Italy Vote is ‘Harbinger’ of Doom: Deutsche Bank Boss Warns of MORE Turbulence After No Vote

http://www.express.co.uk/finance/city/737238/Italy-referendum-banks-finance-crisis-Matteo-Renzi-No-vote-warning

Click on image for article.

  • Italy Vote is ‘Harbinger’ of Doom: Deutsche Bank Boss Warns of MORE Turbulence After No Vote
    by LANA CLEMENTS, http://www.express.co.uk/
    DEUTSCHE Bank’s chief executive warned staff of more eurozone turmoil after Italian Prime Minister Matteo Renzi’s resignation over a referendum on constitutional reform.

    Europe’s economy is at risk of more mayhem in the aftermath of the key vote in Italy, John Cryan told employees at the troubled German bank. He said: “The result of the constitutional referendum in Italy is a harbinger of renewed turbulence that could spill over from the political arena to the economy – with Europe particular endangered.”

    Italy’s banks have been at the forefront of financial concerns for the EU following the outcome of the Italian vote. And experts say the panic could spread to some of Europe’s biggest banks, such as Deutsche. The lender has had a difficult year, which has seen it lose around 40 per cent of its value.  Ahead of the Italian referendum markets again questioned whether the German government would step in and save Deutsche, should it need help.

    Similar worries surfaced earlier this year, after comments from Angela Merkel confirmed she would not approve a state-backed rescue of banks.

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December 6, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | 1 Comment