Socio-Economics History Blog

Socio-Economics & History Commentary

The Next Financial Crisis Has Already Arrived In Europe, And People Are Starting To Freak Out

  • The Next Financial Crisis Has Already Arrived In Europe, And People Are Starting To Freak Out
    by Michael Snyder, http://theeconomiccollapseblog.com/
    Did you know that the sixth largest bank in Spain failed in spectacular fashion just a few days ago?  Many are comparing the sudden implosion of Banco Popular to the collapse of Lehman Brothers in 2008, and EU regulators hastily arranged a sale of the failed bank to Santander in order to avoid a full scale financial panic.  Sadly, most Americans have no idea that a new financial crisis is starting to play out over in Europe, because most Americans only care about what is going on in America.  But we should be paying attention, because the EU is the second largest economy on the entire planet, and the euro is the second most used currency on the entire planet.  The U.S. financial system is already teetering on the brink of disaster, and this new financial crisis in Europe could turn out to be enough to push us over the edge.

    If EU regulators had not arranged a “forced sale” of Banco Popular to Santander, we would probably be witnessing panic on a scale that we haven’t seen since 2008 in Europe right about now.  The following comes from the Telegraph

    Spanish banking giant Santander has stepped in to the rescue ailing rival Banco Popular by taking over the failing lender for €1 in a watershed deal masterminded by EU regulators to avoid a damaging collapse.

    Santander will tap its shareholders for €7bn in a rights issue to raise the capital needed to shore-up Popular’s finances in a dramatic private sector rescue of Spain’s sixth-largest lender.

    It will inflict losses of approximately €3.3bn on bond investors and shareholders but crucially will avoid a taxpayer bailout.

    But now that a “too big to fail” bank like Banco Popular has failed, investors are immediately trying to figure out which major Spanish banks may be the next to collapse.  According to Wolf Richter, many have identified Liberbank as an institution that is highly vulnerable…

    read more.

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June 16, 2017 Posted by | Economics, GeoPolitics | , , , , , | Leave a comment

Jim Willie: Saudi, Italy ….. Business as Usual?

Click on image to download MP3 interview.

  • Jim Willie: Saudi, Italy ….. Business as Usual?
    by https://ochelli.com/
    05/19/2017    Friday – Jim Willie from GoldenJackass.com Saudi, Italy, business as Usual? Jim Willie delivers a means to understand everything from arms deals, and Vaccines to Agenda 21 and How gold prices are being controlled. Japan, Israel, The USA, The EU, all the players on the grand chess board of Global Finance are addressed.

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May 22, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Eurozone WILL Shrink and Collapse: Shock Report Reveals What Business Leaders REALLY Think

  • Eurozone WILL Shrink and Collapse: Shock Report Reveals What Business Leaders REALLY Think
    by SIMON OSBORNE, http://www.express.co.uk/
    MORE than half of European business leaders expect the eurozone to shrink or collapse in coming years, according to a new report.

    Most companies want “more of Europe” but “are still doubting, even fearing, the eurozone’s durability in its current form”, analysts at the McKinsey Global Institute said. And this may limit economic recovery through the region, they said. Researchers questioned 2,000 executives across Britain, France, Germany, Italy, Poland and Spain, finding leaders reported a wide range of risks and uncertainties.

    Concerns around the future European Union crises, nervousness about rising populism and anti-globalisation sentiment and lingering fears about the future shape and direction of the EU itself, were widely reported, according to Lead author Jacques Bughin. He said: “We delved more deeply into attitudes toward the EU, asking about the benefits companies had experienced in the past, as well as their hopes and expectations for Europe in the future.

    “These are complicated times for the EU, which has had to contend with growing political and economic divergence, including the decision by the United Kingdom to withdraw altogether. “Overall, the response to our questions on the EU was positive. Just over half the companies surveyed think the EU has had a beneficial effect on their business, and the most successful companies are the most positive.

    read more.

Daniel 7:7 – ” … behold, a fourth beast, dreadful and terrible, exceedingly strong. It had huge iron teeth; it was devouring, breaking in pieces, and trampling the residue with its feet. It was different from all the beasts that were before it, and it had ten horns.”

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May 22, 2017 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , | Leave a comment

Billions Are Shorting The Market In Preparation For The Financial Apocalypse

  • Published on May 19, 2017
    IMF & Eurozone are threatening to walk away from Greece because they want Greece to implement more austerity. UBS hints of massive auto lending fraud, which mimics the housing market fraud back in 2008. Fed’s Bullard says they just triggered the collapse of the economy and now they might lower rates. George Soros is shorting the market and is hoping to use a financial apocalypse to bring down Trump. What this says is that he already knows the market is coming down and the central bankers are crashing the system.

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May 21, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

Update on BREXIT: EU Politicians Are In Panic Mode

  • Update on BREXIT: EU Politicians Are In Panic Mode
    by ALASDAIR MACLEOD MAY 11, 2017, https://wealth.goldmoney.com/
    This article looks at the background to Brexit negotiations and concludes that Britain is negotiating from a position of strength, while the EU is increasingly in a position of financial difficulty. Not only will the European Commission be forced to scale back its spending and redistribution of resources, but the euro project is threatened by capital flight between member states, despite the early signs of economic recovery which should be restoring market confidence. Politicking aside, pressure is mounting on the EU to defuse the disruption of Brexit by agreeing to a mutually beneficial deal as soon as possible.


    EU finances are getting desperate
    The EU cannot afford to prevaricate over Brexit because a bad Brexit risks causing it immeasurable harm. Not only does big business in Europe want a Britain with which it can freely trade, but confidence in the European Project is rapidly diminishing. The EU is a mega-state that is fading, and no one knows how to ensure its survival. Inevitably, the failings of the EU are catching up with it, and Britain’s leaving exposes the financial consequences of decades of bad management, capital destruction through wasteful redistribution and the lack of any contingency planning.


    Britain’s €8bn annual contribution to the EU budget is almost the same as the cost of administering the whole Brussels establishment, so Brexit will create a budget shortfall that is almost total, which Brussels will have to make up from the remaining members. Inevitably, some of the redistribution to Brussel’s pet projects will end up being cut as well. It is for this reason that the Brussels politicians hope for a capital payment from Britain.

    The Commission also has a commitment to redistribute member funds estimated at €238bn. It must have assumed prior to last year’s referendum that Britain would vote to remain and pay its share. Instead, it voted for Brexit, and the Commission will have to find the money from a capital contribution either from Britain, somewhere else, or cancel some of the projects. With these problems, the Commission is in a difficult position, wrong-footed by Brexit. And when Theresa May says no deal is better than a bad deal and means it, it really could mean an end to Brussels as we know it.

    read more.

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

Austria on the Edge: Government Set to COLLAPSE – And It Could Cause an EU Nightmare

  • Austria on the Edge: Government Set to COLLAPSE – And It Could Cause an EU Nightmare
    by JOEY MILLAR, http://www.express.co.uk/
    AUSTRIA’S government is on the verge of collapse due to a shock resignation, opening the door to the far-right Freedom Party.

    And the crisis could a huge headache for Brussels as the anti-EU Freedom Party is currently leading in the polls. Yesterday the future of the coalition government was thrown into doubt after Vice Chancellor Reinhold Mitterlehner resigned, prompting calls for an election. Many within his People’s Party believe an election should be called rather than simply replacing him as party leader and continuing the shaky coalition with the Social Democrats.

    The two parties had clashed regularly since taking power together in 2013 and Mr Mitterlehner’s resignation looks set to be the uneasy alliance’s death knoll. Officials also fear the resignation could provide a huge chance for the far-right Freedom Party, who were founded in 1956 by a former Nazi and are vehemently opposed to migration and the European Union.

    The party came incredibly close to securing the country’s presidency last year when candidate Norbert Hofer stormed to victory in the first round of victory before being defeated in the second. 

    read more.

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May 13, 2017 Posted by | GeoPolitics | , , , , | Leave a comment

“You Look Remarkably Calm For Someone Who Issues €2.5 Trillion Out Of Thin Air” – Dutch Politician To Draghi

  • “You Look Remarkably Calm For Someone Who Issues €2.5 Trillion Out Of Thin Air” – Dutch Politician To Draghi
    by Tyler Durden, http://www.zerohedge.com
    Used to a fawning press corps and clueless politicians, perhaps Mario Draghi was expecting a warm greeting, a series of softball questions from Dutch lawmakers, and some late night entertainment on Wednesday when the ECB president made a rare visit to the Hague. Instead, what followed, was an “unenviable grilling” from Dutch MPs for nearly two hours in the country’s parliament today which, as the FT said, left the usually implacable Italian confrontational and riled up as tempers flared and Dutch politicians probed Draghi on the ECB’s record of transparency, and attacked policies they said subsidized southern European countries and harmed Dutch pensioners.

    The reason Draghi occasionally travels to national capital cities is to defend the bank’s actions: most recently to Berlin, in late September. That trip helped to soothe German lawmakers as the ECB prepared to extend its stimulus again. Draghi was hoping to do the same with Dutch lawmakers who have been far less critical of the ECB’s actions compared to their German peers, in the past.

    read more.

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May 13, 2017 Posted by | Economics | , , , , , , | Leave a comment

Jim Willie: Will Gold Save The Day?

  • Published on May 11, 2017
    Will gold save the day and prevent growing geopolitical tensions from spinning out of control?


    Also, what’s the future of the European Union? Centrist Emmanuel Macron won the French presidential election, defeating far-right anti-EU candidate Marine Le Pen. Some were saying if Le Pen would have won, that could spell the end of the EU. Jim Willie says now that Macron has won, the EU may be safe…for a few months. In addition, Jim Willie answers the following viewers’ questions

    – psionin, “Jim Willie mentioned a few times that buying a large amount of gold necessitates the paying of high premiums over spot price, with the final price being over 2K USD per ounce. What prevents one in such a position from placing the order on the COMEX or LBMA and taking delivery?”

    – larryik1211, “When Major banks start to Default do you see JP MORGAN push to re-value Silver upwards to use their SILVER stockpile as leverage to buy up and consolidate all the other bankrupt entities?”

    – Mikey Riley, “In regard to COMEX activities, why would the ‘small specs’ continue to be washed and rinsed by the large commercials? Don’t they ever learn? How do those hedge funds stay in business? I thought the COMEX would be deemed irrelevant by now due to the obvious rigging.”

    – Cole Wheeler, “What does the bankruptcy of Puerto Rico mean for the rest of USA inc.?”

    – Craig Butterfield, “Will the collapse of the petro dollar, abolish the federal reserve and their suppression of metal prices?”

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May 12, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

The Central Bank Signals That It’s On Track To Bring The Entire System Down

  • Published on May 3, 2017
    Puerto Rico declares bankruptcy, the restructuring is larger than Detroit. EU blackmails any country that wants to leave the EU, now they want 100 billion euros. ADP employment declines. US auto sales decline as there are more delinquencies among the American people. The debt debacle is not even being talked about. Insiders are selling stocks at a record pace, do they know something we don’t. The Fed explains why the economy is still doing well, the recent numbers are just transitional, the push for the collapse is on and most likely they will raise rates in June.

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

US Dollar Fallout to Unleash Massive Conflict | Rob Kirby

  • Published on May 1, 2017
    Has Trump been co-opted as the first domino to fall in the populist/nationalist movement? Is the European Union headed for inevitable collapse, and is that a good or bad thing for the world? How have globalists designed the coming failure of the US-Dollar Based Reserve Currency, which is already showing severe signs of stress & weakness? Will Russia & China refuse to allow the US Dollar to dominate world economics and markets any longer, even at the utility cost? Proprietary analyst Rob Kirby, founder and host of KirbyAnalytics.com reviews Alasdair Macleod’s expose of America’s Financial W** Strategy and why we are hurtling towards conflict at an unimaginable scale, and what we must do to reduce risk and prepare now!

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

Euro SURGES After Anti-EU ‘Nightmare Scenario’ in French Election Averted

  • Euro SURGES After Anti-EU ‘Nightmare Scenario’ in French Election Averted
    by FRASER MOORE, http://www.express.co.uk/
    THE euro surged to a six-month high following the first round of the French presidential election as the markets shook off fears of two anti-European Union candidates making the run-off.

    The common currency surged two per cent against the dollar as centrist Emmanuel Macron and anti-EU Front National leader Marine Le Pen came appeared to come first and second respectively, according to exit polls.

    There were fears among investors of a “nightmare” scenario where Ms Le Pen and hard-left communist-endorsed Jean-luc Mélenchon, both anti-Brussels, would reach the second round of the election following a late surge in support for Mr Mélenchon.

    read more.

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April 24, 2017 Posted by | Economics, GeoPolitics | , , , | Comments Off on Euro SURGES After Anti-EU ‘Nightmare Scenario’ in French Election Averted

Le Pen Win Is Beginning Of The End Of EU

April 22, 2017 Posted by | GeoPolitics | , , , , | Comments Off on Le Pen Win Is Beginning Of The End Of EU

France: The Next Political Earthquake? | John Rubino

  • Published on Apr 20, 2017
    France could be the next political earthquake. Could a far-right candidate or a communist be France’s next president? What we’ve learned from Brexit and Trump’s election is “the improbable became possible, and then it happened.” The mainstream pollsters and media and political elite have been taken completely off guard in recent elections. Will France’s presidential election be even more earthshaking?

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April 22, 2017 Posted by | Economics, GeoPolitics | , , , , , , | Comments Off on France: The Next Political Earthquake? | John Rubino

Is Euroland on Verge of Disintegration?

  • Is Euroland on Verge of Disintegration?
    by F. William Engdahl, http://journal-neo.org/
    The decision last year by a majority of British voters to exit the European Union was more than a simple vote of the people. The Brexit campaign was promoted and financed by the most influential banks of the City of London and by the British Royal House. Far from the end of Britain, Brexit is far more likely to be the beginning of the end of the disastrous Euro single currency experiment.

    Since the global financial crisis of 2008 little significant has been done by Brussels or the governments of the 19 member Eurozone countries to bring the largest banks of the Eurozone into a healthy stability. On the contrary, even venerable mega-banks like Germany’s Deutsche Bank are teetering on the brink.

    In Italy the world’s oldest bank, Monte Paschi di Siena, is on state life-support. That is but the tip of an iceberg of Italian bank bad debts. Today in total Italy’s banks hold Italy’s banks hold €360 billion of bad loans or 20% of Italy’s GDP, which is double the total five years ago.

    It gets worse. Italy is the fourth largest economy in the EU. Its economy is in dismal shape so bank bad loans grow. State debt is almost as high as that of Greece, at 135% of GDP. Now, since the 2013 Cyprus bank crisis, the EU has passed a stringent new bank “bail-in” law, largely under German pressure. It stipulates that in event of a new banking crisis, a taxpayer bailout is prohibited until bank bond-holders and, if necessary as in Cyprus, its bank depositors, first “bail-in” or take the loss. In Italy, most holders of bank bonds are ordinary Italian citizens, with some €200 billion worth, who were told bank bonds were a secure investment. No more.

    read more.

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April 22, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Comments Off on Is Euroland on Verge of Disintegration?

Doug Casey Says the EU’s Collapse Is Now “Imminent”

  • Doug Casey Says the EU’s Collapse Is Now “Imminent”
    by Nick Giambruno, http://www.internationalman.com/
    On April 23, French voters could drive the entire European Union into its grave. Doug Casey and I recently discussed this historic election—and why it matters to US investors. The death of the EU will make most investors panic. But Doug and I are eager to pounce on the unique opportunities it will create.
    ….
    Nick Giambruno: Doug, you predicted the fall of the European Union a few years ago. What has changed since then?
    Doug Casey: Well, what’s changed is that the entire situation has gotten much worse. The inevitable has now become the imminent.

    The European Union evolved, devolved actually, from basically a free trade pact among a few countries to a giant, dysfunctional, overreaching bureaucracy. Free trade is an excellent idea. However, you don’t need to legislate free trade; that’s almost a contradiction in terms. A free trade pact between different governments is unnecessary for free trade. An individual country interested in prosperity and freedom only needs to eliminate all import and export duties, and all import and export quotas. When a country has duties or quotas, it’s essentially putting itself under embargo, shooting its economy in the foot. Businesses should trade with whomever they want for their own advantage.

    But that wasn’t the way the Europeans did it. The Eurocrats, instead, created a treaty the size of a New York telephone book, regulating everything. This is the problem with the European Union. They say it is about free trade, but really it’s about somebody’s arbitrary idea of “fair trade,” which amounts to regulating everything. In addition to its disastrous economic consequences, it creates misunderstandings and confusion in the mind of the average person. Brussels has become another layer of bureaucracy on top of all the national layers and local layers for the average European to deal with.

    The European Union in Brussels is composed of a class of bureaucrats that are extremely well paid, have tremendous benefits, and have their own self-referencing little culture. They’re exactly the same kind of people that live within the Washington, D.C. beltway.

    The EU was built upon a foundation of sand, doomed to failure from the very start. The idea was ill-fated because the Swedes and the Sicilians are as different from each other as the Poles and the Irish. There are linguistic, religious, and cultural differences, and big differences in the standard of living. Artificial political constructs never last. The EU is great for the “elites” in Brussels; not so much for the average citizen.

    read more.

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April 20, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Comments Off on Doug Casey Says the EU’s Collapse Is Now “Imminent”