Socio-Economics History Blog

Socio-Economics & History Commentary

Martin Armstrong: Economic Downturn Will Take World to War

  • Martin Armstrong: Economic Downturn Will Take World to War. Strong Dollar Could Cause Bond Market Crash
    by Greg Hunter’s USAWatchdog.com
    Renowned financial expert Martin Armstrong says the biggest risk out there is the effect a strong U.S. dollar has on the global bond market. Armstrong explains, “There’s these people who keep saying the dollar is going to crash.  If the dollar crashes, the world is happier and basically celebrating.  You have half the U.S. debt equivalent in emerging market debt issued in dollars.  If the dollar goes up, they are in trouble.  Then you are going to see sovereign defaults. . . . The U.S. is not going to default, but as you start defaults elsewhere outside the country, it makes people begin to get concerned about sovereign debt.  Sovereign debt is the worst of all.  It’s not secured.  If the U.S. government defaulted on its debt, what would happen?  You cannot go down to the National Gallery and start lifting Picassos.”


    So, a bond market crash is a distinct possibility? Armstrong says, “Yes.  All these things are contagions. . . . The real risk is coming from Europe and Asia.  That is the real risk. . . . There is no place to go but the dollar at this point.”

    If and when a global collapse comes, it will come from China or Europe. Armstrong says, “Yes, because you don’t collapse the core economy.  It’s always the peripheral coming in.  It was the same thing in the Great Depression.  It wasn’t the fact that the U.S. defaulted.  The problem was the first bank that went down was in Austria, and it happened to be owned in part by the Rothschilds.  When people hear a bank owned by the Rothschilds went down, people started to sell off all other banks.  Then all the countries defaulted.”

    Armstrong says there is going to be a major “monetary reform” in the not so distant future, and the U.S. will end up with a dollar for domestic use and a dollar used for international trade, sort of like a “domestic dollar” and an “international trade dollar.” Armstrong says, “Yes. All it is doing is replacing the dollar as the reserve currency.  That would satisfy China and Russia, and it would simply be maintained by an international board.  I strongly advise against the IMF.  It’s way, way too corrupt.”

    read more.

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April 14, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Willie on The Strength in Silver and China’s Bitch (JP Morgan)

www.goldenjackass.com

Click on image to play interview MP3 file!

  • Jim Willie on The Strength in Silver and China’s Bitch (JP Morgan)
    by , https://ochelli.com/
    04/07/2017 Friday – Jim Willie on The Strength in Silver and China’s Bitch (JP Morgan).  
    GoldenJackass.com is where you can find Jim Willie who doesn’t give a damn about plastic Dollars, but does explain how a gold-backed currency basket of nations might leave the US the odd man out. 

    GoldenJackass.com Summary (Get Your Hat Trick Newsletter Today) topics covered include:

    – Syrian War with US-led hidden ISIS involvement in grand confusion
    – falsified ISIS videos continue with guerrillas posing as rescue workers over fake victims
    – risk to paper assets with favor to Gold & Silver investments
    – the grand suppression of the Gold market since the Lehman event during the QE hyper monetary inflation episode
    – the 5-fold rise in money supply since Lehman event as justification for 5-fold sudden rise in Gold price
    – the stupid argument (propaganda) of not sufficient amount of Gold bullion to cover currencies as pure Keynesian rubbish
    – the USFed rate hikes with ulterior motives but with risk to undermine the USDollar credibility
    – the fear rises on the puffed up bloated bubbly USDollar currency market
    – the sequence likely to occur on Gold RESET with trade payment, then bank reserves, then gold backed currencies
    – the profound challenges for remedy to the gargantuan imbalances in the financial world
    – the imbalances which should not continue since so difficult to remedy (straw dog heresy)
    – the emerging dual universe of a USD-based West versus an RMB & Gold-based East

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April 13, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Gregory Mannarino: FedRes Deliberately Created Bubbles to Save Itself

  • Published on Apr 11, 2017
    Analyst/trader Gregory Mannarino says, “The Federal Reserve has re-inflated a housing bubble. So now, those ‘toxic assets,’ those mortgage-backed securities are worth something. Now, they are going to sell these at a profit. The profit should going to the poor people who were kicked out of their houses and lost everything. That is not going to happen. The Federal Reserve has deliberately created bubbles to save themselves. If the Federal Reserve allowed the markets to do it’s one and only job, and that is to determine fair value, we’d be out of the woods by now. We wouldn’t be facing another war right now. They refused to do this. The free market has been stolen. We really could be on the edge of a major event that would force people into the debt market. There could be huge amounts of cash coming out of the stock market because of all this fear. There could be massive amounts of cash going into suppressed assets like gold and silver. Housing could come under pressure. We could be staring at the next real Great Depression.”


    In closing, Mannarino says, “The global debt problem is going to get monumentally worse. Let’s see anyone argue that. Does anyone here believe that the global debt problem is going to get better? That should tell you what you need to do. This is like adding 2 + 2. This should be so simple for people to understand what they need to do. . . . If you want to hold those pieces of paper with numbers printed on them, they are unbacked liabilities being dispersed by bankrupted governments. If you want to hold that, good for you. I can promise you I am going to be taking the opposite side to that trade, and I will win.”

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April 13, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Leave a comment

Bank of England Rigging LIBOR – Gold Market Too?

Bank of England, Royal Exchange and GoldCore London HQ in No 1 Cornhill

  • Bank of England Rigging LIBOR – Gold Market Too?
    by Mark O’Byrne, http://www.goldcore.com/us/
    – Bank of England implicated in LIBOR scandal by BBC
    – “We’ve had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower.”
    – “This goes much much higher than me” -UBS’ Tom Hayes
    – Libor distraction as all markets are manipulated today
    –  Central bank’s “rigging” bond markets and likely gold
    – Risks of bank ‘holidays’, capital controls and of course bail-ins remains

    The LIBOR scandal reemerged yesterday as the BBC’s Panorama uncovered a secret recording implicating the Bank of England in the interest rate manipulation saga.


    According to the BBC the central bank pressured commercial banks during the 2008 financial crisis to lower their settings for LIBOR.

    In a telephone recording, aired last night in the UK, a senior Barclays manager, Mark Dearlove, can be heard instructing Libor submitter Peter Johnson, to lower his rates.

    Mr Johnson: “So I’ll push them below a realistic level of where I think I can get money?”
    Mr Dearlove: “The fact of the matter is we’ve got the Bank of England, all sorts of people involved in the whole thing… I am as reluctant as you are… these guys have just turned around and said just do it.”

    The Barclays submitter, Peter Johnson, who is featured in the phone call was jailed in 2016 after pleading guilty to accepting requests to manipulate LIBOR. Previous assurances from the Bank of England that they were not involved in LIBOR fixing have now come under question again. It has long been rumoured that the LIBOR fixing went higher than the banks and individuals that were originally implicated.

    In 2012, a 2008 telephone note came to light which recorded a phone call between Paul Tucker, executive at the Bank of England at the time and Barclays’ boss Bob Diamond. The note refers to what is apparently LIBOR not needing to be ‘so high’ as instructed.

    The telephone note was taken on the same day that the Panorama aired phone call between Johnson and Dearlove, took place. Despite the published telephone note, Bob Diamond told the Treasury Select Committee in 2012 that he had only recently became aware of the manipulations.

    read more.

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April 12, 2017 Posted by | Economics | , , , , , , | Leave a comment

James Rickards: This Is An Extinction-Level Event

  • James Rickards: This Is An Extinction-Level Event
    by http://www.silverdoctors.com/
    Submitted by Sprott’s Thoughts:
    James Rickards predicts the Fed will continue to raise rates and stall the economy.
    Transcript (edited for readability)
    Albert:  James, welcome back to The Power & Market Report. How are you?

    James:  I’m fine, Albert. Thank you. It’s good to be with you.
    Albert: First, before we start though, I want to let the viewers know that April 5 is the first anniversary of The New Case for Gold. So, congratulations on that.
    James:  Thank you.
    Albert:  And on April 7, you’re releasing the paperback edition of The Death of Money. So again, congratulations.
    James:  Thank you. And the paperback edition of The Death of Money as you know, Albert, New York Times Bestseller. It came out in 2014. A couple of things—you’re right, the paperback edition is coming out in a couple of days. It’s unusual. Usually a publisher would go to a paperback within about a year of the publication of the hard cover, but the hard cover, I’m happy to say, sold so well for so long that they delayed the paperback edition.

    But now the paperback edition is coming out. It has new material in it, so it’s not just a soft cover of the old book. It actually has some—a new preface I wrote that kind of goes over the material, shows why it has played out the way we expected and also adds entirely new material including new disclosures never before published on insider trading ahead of the 9/11 attacks. So, I’m very excited about this. It’s a very timely book. It’s still timely after a few years with some very new material included.

    Albert:  
    You know, I was going to joke at the beginning of the show that, you know, it’s been 3 months since we last talked and where is the new book? It turns out there actually is a new book.

    James:  Thanks.

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

Click on image for article.

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April 12, 2017 Posted by | Economics | , , , , , , , , , , , , , , , , , , | Leave a comment

Prepare For The Coming War: “It’s Going To Obliterate The Global Financial System… Our Economy Will Not Survive”

WW3 is near?

  • Prepare For The Coming War: “It’s Going To Obliterate The Global Financial System… Our Economy Will Not Survive”
    by Mac Slavo, April 9th, 2017, SHTFplan.com
    You know what’s so tragic about America? Despite all of the wars our nation gets involved in, we’re secretly one of the most peaceful cultures on the planet. We voted for George Bush, because he promised us a non-interventionist foreign policy. We voted for Obama, because he promised to bring the troops home from Iraq and Afghanistan. We voted for Trump, because he promised to end the nation building policies of his predecessor.


    And that’s the real tragedy. We’ve been voting for peace for nearly 20 years now, and all we get is war.

    That should really tell you something. It should tell you that our system doesn’t care about what the president stands for, or what the voters want. The system is never held accountable for anything, so there is nothing stopping it. One way or another, the deep state always gets its way. So if our government wants a war, then you can bet that we’re going to war.

    That was made abundantly clear last week when President Trump ordered the bombing of an air base in Syria. The attack was so provocative, that the Kremlin went so far as to say that the US is now “only one step from war” with Russia. The man who was supposed to buck the system and drain the swamp; the man who promised to restore our relationship with Russia and pull back from brinkmanship, seems to have finally submitted to the warmongers in our government. The deep state’s plan to drag us into a horrible conflagration was only temporarily derailed by Trump, and now it appears that their plans are back on track.

    But there’s a silver lining in all of this. Once you know that war is inevitable, and you accept that fact, you can have a pretty good idea of what’s going to happen next. You can finally take steps to prepare for it.

    As for what to expect next, you can bet the farm that our economy is not going to survive the next major war, especially if it involves a conflict with Russia or China. Even if this war doesn’t turn into a nuclear slugfest, it’s going to obliterate the global economy and financial system.


    For years Russia and China have been building an alternative to the dollar dominated financial system. They’ve built the BRICS financial bloc, they’ve been stocking up on gold, and they’ve been establishing trade agreements that don’t involve the dollar. When war breaks out, there’s going to be another system waiting in the wings to replace the dollar, which has been the world’s reserve currency for decades. The war will motivate China, Russia, and their allies, to pull the rug out from under the current economic paradigm.

    read more.

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

Dollar Collapse & The New Economy | Kerry Lutz

April 11, 2017 Posted by | Economics | , , , , , , , , , , , , , | Leave a comment

Russia And China Working On Gold Trading System, Gold Will Increase: Louis Cammarosano

April 10, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | Leave a comment

Clif High: FedRes Will Crash & FedRes Is the Market. First Ever Global Government Crash Coming

  • Clif High: FedRes Will Crash & FedRes Is the Market. First Ever Global Government Crash Coming
    by Greg Hunter’s USAWatchdog.com “Early Sunday Release” 
    Internet data mining expert Clif High uses what he calls “predictive linguistics” to spot trends and make predictions for future events. In his latest in-depth report, High sees a “huge” calamity coming for humanity.  Clif High explains, “There is all kinds of data for money and lack of money and lack of funding and all kinds of emotions around this.  There are hints in the data that something huge is coming for August and September that is being exposed by the language now.  I think it’s a bond crash or not a bond crash because I don’t know how that works.  It’s not a stock market crash.  The data I am looking at now says the stock market is not meaningful.  We may lose 50 cents on every dollar in the stock market in just a few days, but it’s meaningless.  It won’t make any difference at all to anybody according to what the data is showing me because the real crisis is in the crash of government.”


    High goes on to explain, “The emotions at the moment are projecting a crash of the ability of the state to function. . . . We have the projection that there is going to be some sort of big government crash. It concerns funding, interruption or something. . . . We have something akin to a definition change relative to bonds. . . . One way to think about this is there is going to be a human collective or re-understanding, or new understanding, about the whole bond market as we go forward in August, September and October.  This is going to cause huge disruptions for governments, which basically depends on the bonds as its source of funds.  I don’t know what that definition is going to mean, but the way the language is presenting itself, it’s very much like the same language that appeared in newspapers ahead of the Bretton Woods conference. . . . At that time, a bunch of countries got together around WWII and talked about how to deal with gold, money and the dollar after the war was over. . . . We have that same kind of language now relative to the bonds. . . .This redefinition is going to cause real problems relative to governments.  If I had to guess, I don’t think we will have a stock market crash, but a government crash or Fed crash or bank crash.  I don’t think a stock market crash will be meaningful because by the time it crashes, nobody will care because before we get there, the Fed will crash.  The Fed is the market.”

    read more.

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April 10, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

JUDGMENT DAY: Russia & China Bypass the Dollar With GOLD

  • Published on Apr 7, 2017
    NOTE: This interview was recorded in the hours BEFORE Trump bombed Syria, or it would have been discussed. In this conversation with Andy Hoffman we discuss the Russia and China’s rapid move away from the Dollar and toward gold. It will soon be judgment day for the Petro-dollar.

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

Jim Willie: Financial Derivatives Ticking Time Bomb

  • Published on Apr 6, 2017
    Jim Willie joins Silver Doctors to reveal the danger created by interest rate swap derivatives. As foreigners accelerate their dumping of U.S. Treasury Bonds and the Fed moves interest rates slightly higher, the interest rate swap derivatives market is coming under strain. When word gets out about the strain in these derivatives, foreign dumping of U.S. debt and movement away from the dollar and towards gold will accelerate, Willie says.


    Willie says China is getting ready to move to the “Gold Trade Note.” How will China move to a gold backed currency without killing their export market? Willie says China has to get a critical mass of support, say the entire Eurasian trade zone, to follow suit. If China can get this critical mass majority, then the rest of the world still trading with the U.S. dollar will be in the minority. That’s when U.S. dollar countries will face currency crises, Willie says.

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April 7, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , | Leave a comment

Global Gold / Silver Class Action Suit Urges PM Investors to Join

  • Global Gold / Silver Class Action Suit Urges PM Investors to Join
    by http://www.silverdoctors.com/
    Fed up waiting for a silver lining? The manipulators want you to be as good as gold.  Get angry and make things right in the English Courts!

    Your participation and a global response could change the future of precious metals pricing and bring about true price discovery!  Stand up, be counted and join our manipulation class- action now!

    OUR CLASS ACTION CURRENTLY RELATES 
    to anyone WHETHER AN INDIVIDUAL INVESTOR OR INVESTMENT ORGANISATION,  WORLDWIDE  who has invested in either gold/silver related investment instruments which include, without limitation: the following products:


    Submitted by Iain Watt:
    This article is written from personal experience. I’m sure it will resonate with many of you.

    In 2008, I like many others, watched the global financial crisis unfold. I watched in astonishment as the world’s financial system, a system that we had been led to believe was in excellent shape, crumble.

    I watched the desperate act of politicians as they sought to assure those with money in banks that they had nothing to worry about and I watched those same politicians scramble to bail out financial institutions that should have been allowed to fail – with billions of tax payers money. I’ve watched those same financial institutions develop relations with politicians and donate handsomely to them.

    I watched as we entered a new world order, where the worlds Central Bankers became the trusted “experts” in resolving the mess we were in. Very strange, since not one of those “experts” had the expertise to see it coming!

    I watched their Central Bank solution to the problem, the greatest monitory experiment in history – global Quantitative Easing. I watched as countries failed and were “bailed out”….even those with no realistic chance EVER of loan repayment. Extend and pretend goes on, even today.

    read more.

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

Paul Craig Roberts: Nuclear War More Likely — Blame Washington & MSM

  • Paul Craig Roberts: Nuclear War More Likely — Blame Washington & MSM
    by Greg Hunter’s USAWatchdog.com 
    Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, sees trouble for the economy. Dr. Roberts explains, “This image of a strong stock market is based essentially on debt, borrowing and debt, money creation and debt.  It’s a false signal that shows prosperity, and it’s not really there. . . . So, during a period of time when there has been no interest income on peoples’ savings in the form of bonds or CDs, there has also been no growth in Social Security income.  So, the elderly, or the largest block of them, are hard pressed.  The young come out of school with student debt and no good jobs.  A large percentage can’t find sufficient employment to support an independent existence.  They can’t possibly pay off the loans.  So, wherever you look, you see a debt based system that’s running out of steam.”


    Dr. Roberts, who holds a PhD in economics, says this is why retail is getting killed. Dr. Roberts contends, “A lot of people blame this on internet shopping and that people don’t want to be bothered to go to a mall.  The mall experience is old and outdated, and they would rather sit in front of a computer and order online.  This is the explanation people give who don’t want to see a problem.  An alternative explanation is that people have run out of any discretionary income with which to purchase things.  When you consider mortgage payments, car payments, credit card payments and food, there’s no money left to drive consumer discretionary spending.”

    Dr. Roberts says the Federal Reserve basically prints money and intervenes in all markets to prop them up or, as in the case of gold and silver, hold prices down. Dr. Roberts says, “It looks like the whole system is rigged.  People don’t understand this, and you can’t find any discussion about this in the financial press or in the economic profession. . . . Since the Fed has unlimited amounts of money, it can create endless amounts of money by pushing a computer button.  They don’t have to worry about losses.  So, they can support or rig all markets.”

    Dr. Roberts, formerly a top editor at the Wall Street Journal, says nuclear war is the most dire problem Americans face. This comes at a time when trust between Russia and America is at all-time lows.  Dr. Roberts says, “The danger is both warning systems, ours and the Soviets (Russians).  During the period of the cold war, there were many false alarms of incoming missiles.  Both sides would see incoming missiles, and yet no one believed it, and the reason they didn’t believe it was that the governments were working together to defuse tensions.  You had Kennedy with Khrushchev.  You had Nixon who gave us SALT-1, an anti-ballistic missile treaty.  You had Carter who gave us SALT-2.  You had Reagan and Gorbachev who ended the cold war.  So, all during these periods when false information of incoming missiles came in, no one believed it, but if you have distrust between the two powers as we now have, and Putin has said on a number of occasions we can no longer trust the Americans, if you can’t trust and you get incoming missile alerts, you are much more inclined to believe it.  So, the prospect of nuclear war is more likely.  Washington and the media . . . are creating distrust among their populations with Russia with this constant anti-Russian propaganda.  With all this bogus and false allegations about Russia. . . . the chances of all this going poof are very high.”

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April 6, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

The Financial System Will Go Dark When The Economic System Fails: James Rickards

April 5, 2017 Posted by | Economics | , , , , , , , , , , , , , , , , , , | Leave a comment

Massive Stock Correction to Send Metals Surging & Elites to Lose – Steve St. Angelo

  • Published on Apr 4, 2017
    Fan favorite guest with some of the best energy & metals expertise we know is back. If you want the best raw statistics and analysis be sure to check his site. Steve’s on today to refute a few things our latest viral silver interview with Charles Savoie brought up including potential government metals nationalization. He also continues to hammer the fact that energy returned on investment (ROI) is collapsing fast, a point that Chris Martenson of Peak Prosperity has been championing as well; according to Steve we’re in for a wild ride! TOPICS IN THIS INTERVIEW:

    01:10 Gold, Silver to Surge if/when manipulation ends?
    02:50 Is there Risk for Silver Nationalization?
    04:20 In 1930’s Gold to Silver Ratio 4 to 1
    07:00 Gov more Likely to Grab Institutional Silver
    12:50 American standard of living collapse conspiracy
    17:10 Does Technology offset some energy ROI drop?
    19:20 Shale oil = way more energy investment vs conventional
    21:50 Food energy returned on investment dropping as well
    24:50 World’s largest oil companies debt is exploding
    27:20 Elite to lose control & wealth as economy blows up
    29:05 Secrets to why Nixon depegged dollar from gold
    32:40 Oil a big reason behind 1970’s gold price rally
    36:00 US Retirement trouble: Pensions & 401k’s withdrawls up

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April 5, 2017 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment