Socio-Economics History Blog

Socio-Economics & History Commentary

The Econonic System Is Moving From West To East, This Is The End Game: Bill Holter

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

Jim Willie: Death of the Dollar

  • INTERVIEW WITH KATHY RUBIO
    Sept 8th:  topics covered include the various ways in the which the USDollar shows strong signs of losing its global reserve currency status, as well as several of the Biblical Seven Bowls of ruinous contamination poured upon our planet Earth….. (hint: skip the first 4 minutes as opener)

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

Dollar Decline, the Rise of China’s Gold Yuan + 5 Levels of Preparedness | Jerry Robinson

  • CRITICAL PREPARATIONS for Rise of Gold-Backed Chinese Yuan and Fall of US Dollar
    by http://www.silverdoctors.com/
    Jerry Robinson shares critical areas of preparedness that all Americans should engage in right now as the world ditches the US dollar. Sure, there may be plenty of toilet paper available, but from the most basic preps to financial readiness, Jerry has it covered…

    Jerry Robinson interviewed on Reluctant Preppers
    The subject of much resistance, even in the alternative media, the upcoming global embracing of the Chinese yuan-traded oil contract, convertible to gold on the Chinese gold exchanges, will have serious implications for people holding and using the US dollar.

    As Western and Eastern United States find out, some the hard way, that the only real time to prepare is before disaster strikes, the coming dollar collapse will have deep and lasting effects on everybody. It will be a financial disaster like no other.

    In this robust interview, Jerry and Dunagun discuss what actions every person should take right now to prepare for the inevitable. It may seem like there is still time, until all of the sudden there isn’t.

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September 13, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , | Leave a comment

The Petro-Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency — James Rickards

  • Money Master Published on Sep 10, 2017
    The Petro Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency

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

Warning: Bitcoin to Collapse | Alasdair MacLeod

  • FinanceAndLiberty.com Published on Sep 11, 2017
    Bitcoin is not money and never will be, says London Analysts Alasdair MacLeod. MacLeod explains why cryptocurrencies are a bubble. Either the bubble will collapse by itself or governments will destroy cryptocurrencies. But the general public hasn’t yet jumped on the cryptocurrency bandwagon. “When the ordinary man in the street starts playing, you know it’s time to get out,” he says. As for governments putting a stop to cryptocurrencies, MacLeod says it’ll be years before there’s an international agreement on such a matter.

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

The Petro-Dollar is Close to Its End

  • The Petro-Dollar is Close to Its End
    by Finian Cunningham, http://tapnewswire.com/, 8 July 2017
    China and Russia have already ditched the US dollar in their vast energy trade. Now China is leveraging Saudi Arabia to also abandon the greenback for oil sales. No wonder, it seems, that US policies are increasingly lashing out.

    US global power depends on its presumed economic prowess and military force. With its economy in long-term decline, precipitated by the teetering dollar, the US rulers are relying increasingly on militarism to project power. That tendency is pushing the world to war.

    The challenge is to somehow steer the American military monster into a safe berth without eliciting a world war.

    The US decline is of historic proportions – on par with the demise of other past empires – and it stems from the looming collapse of the petrodollar system, which has given the US unprecedented privileges over the past decades since the Second World War.

    It is no coincidence that a surge in global tensions over recent years comes at a time when the American economy is staring into an abyss. The key to the survival of the US economy as we know it is the status of the American dollar as the world’s top reserve currency.

    The so-called petrodollar system, in which the world’s most traded commodity oil and gas are conducted primarily through American currency, appears to be coming to an end. That decades-old system is being challenged by the rise of China, Russia, India, Iran and others. If the petrodollar and its global privileges are displaced then the United States is facing an economic apocalypse.

    It should be said that there is nothing illegitimate about challenging this American unipolar dominance. Why should countries be forced to conduct their international trade primarily with the US dollar owing simply to historical circumstances during the 1970s that gave rise to the petrodollar system? That system works, in effect, like a global tax that the US imposes on all other nations because they are compelled to purchase American-printed banknotes.

    Perhaps no two other countries have done more to forge a multipolar global order than China and Russia. China is the biggest oil importer and Russia is the world’s biggest fuel exporter. When they announced last year that oil trade would be henceforth conducted in their own national currencies of yuan and rouble that development marked a nail in the dollar’s coffin.

    Now, only a few weeks ago, China and Saudi Arabia – the world’s second-biggest oil producer – reportedlylaunched earnest negotiations for future energy fuel trade to be conducted in yuan. Commentators say Saudi Arabia has little choice in the matter, since China has been progressively reducing the kingdom’s market share with other oil exporters, like Russia and Iran. If the Saudis want to maintain exports to the world’s biggest economy, then they will have to do their business in Chinese currency, not the US dollar as they have customarily done.

    Randy Martin, an American political analyst, said the long-anticipated decline in the petrodollar is picking up pace.

    “The petrodollar is in decline, and consequently the entire financial system that undergirds the western economies,” Martin said. “China and Russia have laid the global economic foundation for the new ‘Silk Road’ and the emergence of a new Eurasian economy that puts the US and its petrodollar on the outside. That leaves the US dollar and its economy in tatters as long as the US insists on trying to maintain its unipolar quest for global economic dominance. To be clear, what China and Russia have successfully done is to unravel the economic foundation of US global hegemony.”

    read more.

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

Dear President Trump: America is in for a Rude Awakening in January

  • Dear President Trump: America is in for a Rude Awakening in January
    by , https://dailyreckoning.com/
    Dear President Trump,

    Over the last couple of years I’ve been all over TV… from Fox News to CNBC, CNN and Bloomberg. I’ve been telling our fellow Americans that the financial global elite was planning to issue their own globalist currency called special drawing rights, or SDRs.

    And that those elites would use this new currency to replace the U.S. dollar as the global reserve currency. I’ve even written about this extensively in my best-selling books The Road to Ruin and The New Case for Gold.

    I’m sure some people in the mainstream media thought I was out of line — but the United Nations and the International Monetary Fund (IMF) have both confirmed this plan to replace the U.S. dollar is real. I’ve made this warning many times, but it seems to be falling on deaf ears. That’s why I’m writing directly to you.

    Here’s the proof that the U.S. dollar is under attack, right in front of our eyes:

    The UN said we need “a new global reserve system… that no longer relies on the United States dollar as the single major reserve currency.”

    And the IMF admitted they want to make “the special drawing right (SDR) the principal reserve asset in the [International Monetary System].”

    More recently, the IMF advanced their plan by helping private institutions, such as the UK’s Standard Chartered Bank, issue bonds in SDRs.

    Although our mainstream media ignored this major event, the UK media reported:

    read more.

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

De-Dollarization Continues As More Countries Separate Themselves From The Dollar

  • X22Report Published on Sep 9, 2017
    American’s had to borrow big in July.  Wholesale inventories jumped to the highest since the November slide. Atlanta Fed is now reporting a 3.0 GDP number, completely manipulated. War on cash in India completely backfires the economy is falling apart. Venezuela pushes the agenda of bypassing the dollar and using other currencies. Iran, South Korea sign banking cooperation to bypass the dollar. More countries are moving to other currencies to protect themselves from the collapsing dollar.

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September 11, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Keiser Report: RIP, Petrodollar?

  • RT Published on Sep 9, 2017
    Check Keiser Report website for more: http://www.maxkeiser.com/
    In this episode of the Keiser Report, Max and Stacy ask, “RIP, Petrodollar?” China readies a yuan-priced oil benchmark backed by gold. Is this the final nail in the dollar’s coffin? In the second half, Max interviews Michael Pento of PentoPort.com to discuss the oil-gold-yuan futures contract, North Korea, hurricanes and coming market meltdowns.

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September 11, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

Venezuela Plans to Drop US Dollar in Gas, Oil Trade

  • Venezuela Plans to Drop US Dollar in Gas, Oil Trade
    by https://sputniknews.com/
    Venezuelan President says that the country is going to trade in oil, gas and gold using currencies other than the US dollar.

    CARACAS (Sputnik) — Venezuelan President Nicolas Maduro said Friday his country was going to trade in oil, gas and gold using currencies other than the US dollar, in response to Washington’s new financial sanctions.

    “I have decided to start selling gas, oil, gold and other commodities sold by Venezuela using other currencies, including the Chinese yuan, the Japanese yen, the Russian ruble, and the Indian rupee,” he said in a televised address.

    The president again accused Washington of using illegal monetary and trade practices to destabilize the national economy and usher in a change of power. Venezuela has been suffering from low oil prices and major shortages of food and medicine.

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September 11, 2017 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Lynette Zang: China Attacking USD – New Reserve Currency In Sight

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

Click on image for article.

September 11, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Putin Reveals ‘Fair Multipolar World’ Concept in which Oil Contracts Could Bypass the US Dollar and be Traded with Oil, Yuan and Gold

  • Putin Reveals ‘Fair Multipolar World’ Concept in which Oil Contracts Could Bypass the US Dollar and be Traded with Oil, Yuan and Gold
    by PEPE ESCOBAR, http://www.atimes.com/
    The real BRICS bombshell
    The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context.

    Once again, it’s essential to keep in mind that the current core of BRICS is “RC”; the Russia-China strategic partnership. So in the Korean peninsula chessboard, RC context – with both nations sharing borders with the DPRK – is primordial.

    Meet the oil/yuan/gold triad
    It’s when President Putin starts talking that the BRICS reveal their true bombshell. Geopolitically and geo-economically, Putin’s emphasis is on a “fair multipolar world”, and “against protectionism and new barriers in global trade.” The message is straight to the point.

    The Syria game-changer – where Beijing silently but firmly supported Moscow – had to be evoked; “It was largely thanks to the efforts of Russia and other concerned countries that conditions have been created to improve the situation in Syria.”

    On the Korean peninsula, it’s clear how RC think in unison; “The situation is balancing on the brink of a large-scale conflict.” Putin’s judgment is as scathing as the – RC-proposed – possible solution is sound; “Putting pressure on Pyongyang to stop its nuclear missile program is misguided and futile. The region’s problems should only be settled through a direct dialogue of all the parties concerned without any preconditions.”

    Putin’s – and Xi’s – concept of multilateral order is clearly visible in the wide-ranging Xiamen Declaration, which proposes an “Afghan-led and Afghan-owned” peace and national reconciliation process, “including the Moscow Format of consultations” and the “Heart of Asia-Istanbul process”.

    That’s code for an all-Asian (and not Western) Afghan solution brokered by the Shanghai Cooperation Organization (SCO), led by RC, and of which Afghanistan is an observer and future full member.

    And then, Putin delivers the clincher; “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies.”

    “To overcome the excessive domination of the limited number of reserve currencies” is the politest way of stating what the BRICS have been discussing for years now; how to bypass the US dollar, as well as the petrodollar. Beijing is ready to step up the game. Soon China will launch a crude oil futures contract priced in yuan and convertible into gold.

    This means that Russia – as well as Iran, the other key node of Eurasia integration – may bypass US sanctions by trading energy in their own currencies, or in yuan. Inbuilt in the move is a true Chinese win-win; the yuan will be fully convertible into gold on both the Shanghai and Hong Kong exchanges.

    The new triad of oil, yuan and gold is actually a win-win-win. No problem at all if energy providers prefer to be paid in physical gold instead of yuan. The key message is the US dollar being bypassed.

    RC – via the Russian Central Bank and the People’s Bank of China – have been developing ruble-yuan swaps for quite a while now.

    read more.

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September 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | 1 Comment

Jim Rickards: The North Korean Endgame is Playing Out Now

  • Jim Rickards: The North Korean Endgame is Playing Out Now
    by https://dailyreckoning.com/
    As mounting tensions rise from the latest round of nuclear testing out of North Korea, Jim Rickards believes a considerable window is closing by the United States. The threat of a nuclear armed and capable North Korea is a line that the currency wars expert and macro analyst believes the United States will now allow to be crossed. Speaking on CNBC’s Capital Connection Rickards offered his latest critique of the restrictions and response by the international community on North Korea.

    The interview began with a question what an oil embargo would mean for North Korea and how it would impact that country. Rickards blasts, “North Korea has already beaten the world to the punch. They’ve been building up their strategic oil reserves. What that means is they have an estimated year’s worth of held in reserve and China has played a role in these things in the past.”

    “The area that would be effective for a reactionary measure would be for the United States to exclude the People’s Bank of China, the Industrial and Commercial Bank of China and some of the other major Chinese banks from within the U.S dollar payment systems. The U.S could completely shut down the U.S operations.”

    read more.

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September 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

China’s New Plans to Back Oil with Gold Emerged Out of BRICS Conference Under Putin’s Blueprint to End Dollar Hegemony

  • China’s New Plans to Back Oil with Gold Emerged Out of BRICS Conference Under Putin’s Blueprint to End Dollar Hegemony
    by http://www.thedailyeconomist.com/
    Last weekend, officials from China’s Shanghai International Energy Exchange dropped a bombshell that the Asian power would soon be introducing a new oil contract that would be denominated in the Yuan currency, and convertible with gold should customers demand it.  However, new information out on Sept. 5 shows that this gambit was not unilaterally decided by China alone, but came out of a blueprint forged in part by Russia’s President Vladimir Putin during the recent BRICS conference.

    And then, Putin delivers the clincher; “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies.”

    “To overcome the excessive domination of the limited number of reserve currencies” is the politest way of stating what the BRICS have been discussing for years now; how to bypass the US dollar, as well as the petrodollar. Beijing is ready to step up the game. Soon China will launch a crude oil futures contract priced in yuan and convertible into gold.

    This means that Russia – as well as Iran, the other key node of Eurasia integration – may bypass US sanctions by trading energy in their own currencies, or in yuan. Inbuilt in the move is a true Chinese win-win; the yuan will be fully convertible into gold on both the Shanghai and Hong Kong exchanges. – Asia Times


    So while President Trump and the Pentagon continue to play diplomatic ‘chicken’ over the potential threat of North Korea, they appear to be missing completely the covert destruction of dollar hegemony in almost the same exact fashion that the U.S. used 25 years ago to bring down the former Soviet Union…

    Attack them economically using oil and currencies to bankrupt the empire.

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

In Gold We Trust: How the ‘Entire Western Monetary System is a Fraud’

  • In Gold We Trust: How the ‘Entire Western Monetary System is a Fraud’
    by https://sputniknews.com/
    The largest Russian bank, Sberbank, is planning to increase the supply of gold to China up to 10-15 tons in 2018. Keeping in mind that both the Russian ruble and Chinese yuan are covered by gold, this step is a part of the “de-dollarization” of their economies, according to economist Peter Koenig.

    The former World Bank staff, current economist and geopolitical analyst Mr. Peter Koenig told Sputnik Radio that this decision by Sberbank is just a continuation of economic and trade agreements between Russia and China. 

    “Both the ruble and yuan are 100 percent covered by gold, so this is just a part of a larger, fairly advanced scheme of the de-dollarization of their economies,” Koenig said.

    He further said, “The entire western monetary system is basically a fraud. It is privately made and privately owned. All international transfers have to transit through Wall Street banks and that is the only reason why the US can actually sanction as they say ‘countries that do not behave according to Washington’s dictate.’”

    read more.

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