Socio-Economics History Blog

Socio-Economics & History Commentary

Paul Craig Roberts: Markets Fall When Dollar Falls. Looming Catastrophe Hanging Over Our Heads

  • Paul Craig Roberts: Markets Fall When Dollar Falls. Looming Catastrophe Hanging Over Our Heads
    by Greg Hunter’s USAWatchdog.com
    Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on “phony profits” that come from global central banks “propping up” the financial system. Roberts says, “Any of these central banks are really only there for a handful of big banks. That’s all they are concerned with. All the Federal Reserve has been concerned with for the last decade is the welfare of a handful of mega banks. Of course, the banks are too large. They should have never been allowed to get that large. When you have a bank too big to fail, then your policy has failed. You’ve allowed too much concentration. Where is anti-trust? Where is the Sherman Act? Everything that was legislated in the past to prevent the kind of looming catastrophe that is hanging over our heads, this looming catastrophe is produced by central banks. They are perpetuating it because they don’t know how to get out of it.”


    The International Monetary Fund (IMF) has just warned on the profitability of nine huge global banks. Some say they equal nine possible Lehman Brothers, which was the financial institution that started the 2008 meltdown. Is the IMF terrified of the slightest correction in the markets? Dr. Roberts says, “I think so, yes, because it’s not based on reality. It’s based on massive liquidity. So, it’s full of all kinds of dangers.”

    The biggest danger to Dr. Roberts, who has a PhD in economics, is the U.S. dollar. Dr. Roberts contends, “It seems to me that the only thing that would cause the Federal Reserve to stop the liquidity would be if the U.S. dollar fell under attack. If for some reason people said, hey, we don’t want the dollar anymore, and they started moving out of dollars into other currencies or into something else, if they cease to hold assets in dollars, if that happened, the Fed would have to try to raise interest rates to support the dollar. Then you could see that everything could come apart. If the interest rates would go up, there would be all kinds of derivatives that would not be sustainable. The stock market would collapse. It would be a mess. It would be an utter mess. That’s what the IMF is worried about. It’s a messy situation. How do you get out of it?”

    How does Dr. Roberts say people should protect themselves? Dr. Roberts says, “I would not be in debt.”

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October 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Did Russia Just Issue A New Eurasian Currency?

  • X22Report Published on Oct 18, 2017
    Tens of millions of Americans have not recovered from the last crisis. IBM sales drop for 22 months in a row. Housing starts plummet as the housing market implodes on itself.  Mnuchin pushes agenda and says if you do not do what we want we will crash the economy. Warning inflation and a market correction might be headed our way very soon. The corporate media and government are pushing this idea. Russia just introduced a new currency, this new currency will most likely be used for the Eurasian countries.

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October 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Friday The Thirteenth Golden Jackass Jim Willie

https://ochelli.com/wp-content/uploads/2017/10/The-Ochelli-Effect-2017-10-13.mp3

Click on image for MP3 audio interview.

  • Friday The Thirteenth Golden Jackass
    by https://ochelli.com/
    The Ochelli Effect 10-13-2017 Jim Willie The man behind The “Hat Trick Newsletter” @  goldenjackass.com .Plus producer Tony Hurst has an unscripted conversation with Chuck in the second hour

    Hour 1 we break down money , Gold , Oil , and the U.S. Military Industrial Complex along with a few unusual subjects with the uniquely talented Jim Willie from GoldenJackass.com . Jim’s insights into finance ,  global trends , realities and the secret or not-so-secret  world of real deals is one of a kind and the Ochelli Effect is lucky to have Jim appear on a monthly basis. On Friday The Thirteenth Golden Jackass , we hear Jim answer listener questions and explain what happens when China decides to “Flip The Switch” , and what has happened to US Presidents  when they push back against the banking Cabals.

    Second Hour Tony Hursy makes a rare appearance on the show to pick Chuck’s brain a bit about current events , Climate Change , and What In Hell is actually going on in the alleged United States. The future of the show is addressed and Tony’s priceless contribution to show , website and Chuck’s basic knowledge are discussed. Also , What was that noise at the second hour break?

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

A Tsunami of Finance: German Expert Warns of Imminent Collapse of ‘World Casino’

  • A Tsunami of Finance: German Expert Warns of Imminent Collapse of ‘World Casino’
    by https://sputniknews.com/
    Financial expert Ernst Wolff gives Sputnik a taster of his new book, which warns that dependence on the financial industry and the US dollar has created a “financial tsunami,” the consequences of which the world is wholly unprepared for.

    Financial expert Ernst Wolff, author of a bestselling analysis of the International Monetary Fund‘s “modern day crusade against the working people on five continents,” has turned his attention to the global financial system in his latest book.

    Wolff sees the financial system at risk of imminent collapse and likens it to a “Financial Tsunami” which threatens to take us all by surprise, leaving devastation in its wake.

    In a taster of the book’s contents, he told Sputnik Deutschland that the US-based financial industry has been on “life support” since the 2008 crisis and its prognosis “doesn’t look good.”

    “The patient is about 75 years old. Our financial system was founded in in Bretton Woods, USA in 1944. The patient is in great difficulty because in 1998 and a second time in 2007/2008, he almost died. Since this second crisis, he has only been kept alive artificially. The financial system is lying in the intensive care unit.”

    While most countries have a state central bank, US monetary policy is conducted by the Federal Reserve, a consortium of 12 regional banks in which commercial banks own shares. Wolff describes the system as a “cartel.”

    “One not only gives a patient a diagnosis, but also a case history. First, we need to understand the power of the Federal Reserve, the American central bank which was established a hundred years ago. Many people still don’t know that the Federal Reserve is not a state institution, but is in private hands. This is a bank cartel which lies in the hands of several large, very rich families. This fact has been covered up in the course of history.”

    read more.

http://www.wnd.com/2008/03/59405/

Click on image for article.

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October 16, 2017 Posted by | Economics, GeoPolitics, History | , , , , , , , , , , , , , | Leave a comment

Willem Middelkoop: Any Sunday Night Now And Gold Could Be Revalued Up To $10,000

Click on image to download MP3 interview.

  • Willem Middelkoop: Any Sunday Night Now And Gold Could Be Revalued Up To $10,000
    by https://www.silverdoctors.com/
    Once the physical market breaks, there will be a quick revaluation of gold towards even $10,000. Here’s two ways Willem says it can play out…

    Willem Middelkoop interviewed by Craig Hemke on TF Metals Report
    Willem Middelkoop is an Amsterdam-based author and commodity fund manager. Somehow it had been over a year since we last spoke with Willem so we had plenty to discuss today. Please be sure to give this podcast a listen. Among the topics addressed in this 49-minute call:

    * the current similarities to the run-up to The Financial Crisis in 2008
    * how the falling dollar is impacting commodities
    * why China values physical gold and the likelihood of a global reset in price
    * which commodities or metals might benefit from the changes described in his new book, “The Tesla Revolution
    * the future of the euro and the possibility of it challenging the US dollar as global reserve currency
    * Willem’s interest and opinion on the Australian mining sector, specifically Artemis and Novo Resources
    * And a whole lot more!

    I’m confident you’ll find this audio to be interesting and very helpful. Thanks again to Willem for sharing his time and expertise.

    TF
    Willem Middelkoop is an author and founder of the Commodity Discovery Fund. He became a well-known personality through his work as stock market commentator for the Dutch business television channel RTLZ. Middelkoop predicted the onset of the credit crisis in his book “Als de dollar valt” (If The Dollar Falls) – 2007. Subsequent publications were “De permanente oliecrisis” (The permanent oil crisis) – 2008, “Overleef de kredietcrisis” (Surviving the credit crisis) – 2009, “Goud en het geheim van geld” (Gold and the secret of money) – 2012, The Big Reset – 2013 and The Tesla Revolution – 2017. In total, he has sold more than 150,000 copies of his books.

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October 16, 2017 Posted by | Economics | , , , , , , , , , , | Leave a comment

End of Petrodollar: Rise of Economic Protectionism to Reshape Global Trade

  • End of Petrodollar: Rise of Economic Protectionism to Reshape Global Trade
    by https://sputniknews.com/
    The era of petrodollar recycling is drawing to an end as shifts in technology and international politics render it redundant, meaning the US is entering volatile times.

    Kristian Rouz — The rise of economic protectionism and nationalism in politics of the recent years, including the gradual implementation of US President Donald Trump’s agenda and Brexit reshaping the contours of European trade, are poised to bring an end to the petrodollar recycling. These developments signal the first overhaul of international economic relations since the Nixon administration in the early 1970s in the United States.

    The petrodollar system entailed the end of the gold standard in the US, which had its national currency pegged to the value of gold at $35 per ounce in the aftermath of World War II. However, the severe challenges that global economy faced in the late 1960s pushed the administration of Richard Milhous Nixon to abandon the system.

    “The essence of the deal was that the US would agree to military sales and defense of Saudi Arabia in return for all oil trade being denominated in US dollars,” The Huffington Post explains.

    The shale revolution in oil productionin the early 2010s rendered this system irrelevant in the US, as North America is becoming increasingly independent of crude oil imports and has, in fact, increased its own oil and petrochemical exports under President Trump.

    However, President Trump’s push for greater protectionism faces obstacles, mainly in the form of a significant Saudi investment in US Treasury bonds accrued over the past 40 years. The petrodollar system has allowed Saudi Arabia to increase its foreign reserves, and many other prominent oil-producing nations have followed the same foreign investment pattern.

    The US, on its part, was able to increase its money supply by printing dollars, which has produced major dollar devaluation, by over 30 percent since the early 1980s. Subsequently, other oil importers, in order to pay for energy, had to buy US dollars first.

    read more.

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

De-Dollarization Continues, More Countries Pivot Away From The Dollar

  • X22Report Published on Oct 10, 2017
    Russia’s central bank is trying to stop cryptocurrencies. London housing prices are falling, the bubble is popping. In NY the commercial real estate and residential real estate is falling apart, foreclosures are way up, back to 2009 levels. The IMF is trying to convince the world that the economy is fully recovered, but buried deep in the report it says the recovery cannot be sustained. More countries move away from the dollar, Turkey and Iran decide to trade in their local currencies.

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

Rob Kirby: Could Be Just Days Or Weeks Until The Collapse Of The Petrodollar

  • Rob Kirby: Could Be Just Days Or Weeks Until The Collapse Of The Petrodollar
    by https://www.silverdoctors.com/
    Rob Kirby says that the system won’t stay afloat much longer as the petrodollar is failing. We could be just days to weeks away. Here’s why…

    Rob Kirby interviewed by Silver Doctors
    Also, Kirby discusses Catalonia’s movement towards independence. “The vote to become independent in Catalonia is symptomatic of a growing desire of peoples around the world to reject the forces of globalism,” Kirby says. He continues that now this anti-globalism movement is unstoppable. And Kirby answers viewers questions covering the following topics:

    – Pensions will suffer “apocalypse.”
    – Paying off debt vs. prepping for crisis
    – How much gold and silver to own
    – The petrodollar will collapse within months
    – Demand for physical metal will overwhelm price manipulation
    – Cryptocurrencies vs. fiat currencies

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

Buried In The Fed’s Report It Reveals The Truth About The Economy: Charles Hugh Smith

October 10, 2017 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

The Central Banks Are Transitioning The World Away From The Dollar: James Rickards

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

Click on image for article.

http://www.thenewamerican.com/world-news/europe/item/8864-vatican-council-calls-for-world-government-central-bank

Click on image for article.

http://americanfreepress.net/?p=1263

Click on image to goto article.

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

Challenging the Dollar: China and Russia’s Plan from Petroyuan to Gold

  • Challenging the Dollar: China and Russia’s Plan from Petroyuan to Gold
    by FEDERICO PIERACCINI, https://www.strategic-culture.org/
    As seen in my previous article, US military power is on the decline, and the effects are palpable. In a world full of conflicts brought on by Washington, the economic and financial shifts that are occurring are for many countries a long-awaited and welcome development.

    If we were to identify what uniquely fuels American imperialism and its aspirations for global hegemony, the role of the US dollar would figure prominently. An exploration of the depth of the dollar’s effects on the world economy is therefore necessary in order to understand the consequential geopolitical developments that have occurred over the last few decades.

    The reason the dollar plays such an important role in the world economy is due to the following three major factors: the petrodollar; the dollar as world reserve currency; and Nixon’s decision in 1971 to no longer make the dollar convertible into gold. As is easy to guess, the petrodollar strongly influenced the composition of the SDR basket, making the dollar the world reserve currency, spelling grave implications for the global economy due to Nixon’s decision to eliminate the dollar’s convertibility into gold. Most of the problems for the rest of the world began from a combination of these three factors.

    Dollar-Petrodollar-Gold
    The largest geo-economic change in the last fifty years was arguably implemented in 1973 with the agreement between OPEC, Saudi Arabia and the United States to sell oil exclusively in dollars.


    Specifically, Nixon arranged with Saudi King Faisal for Saudis to only accept dollars as a payment for oil and related investments, recycling billions of excess dollars into US treasury bills and other dollar-based financial resources. In exchange, Saudi Arabia and other OPEC countries came under American military protection. It reminds one of a mafia-style arrangement: the Saudis are obliged to conduct business in US dollars according to terms and conditions set by the US with little argument, and in exchange they receive generous protection.

    De-dollarize
    Beijing has started putting strong pressure on Riyadh to start accepting yuan payments for oil instead of dollars, as are other countries such as the Russian Federation. For Riyadh, this is an almost existential issue. Riyadh is in a delicate situation, dedicated as it is to keeping the US dollar tied to oil, even though its main ally, the US, has pursued in the Middle East a contradictory strategy, as seen with the JCPOA agreement. Iran, the main regional enemy of Saudi Arabia, was able to have sanctions lifted (especially from Europeans countries) thanks to the JCPOA. In addition, Iran was able to pursue a historic victory with its allies in Syria, gaining a preeminent role in the region and aspiring to become a regional powerhouse. Riyadh is obliged to obey the US, an ally that does not care about its fate in the region (Iran is increasingly influential in Iraq, Syria and Lebanon) and is even competing in the oil market. To make matters worse for Washington, China is Riyadh’s largest customer; and considering the agreements with Nigeria and Russia, Beijing can safely stop buying oil from Saudi Arabia should Riyadh continue to insist on receiving payment only in dollars. This would badly hurt the petrodollar, a perverse system that damages China and Russia most of all.


    read more.

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

Russia And China Continue To Hoard Gold To Prepare For The Dollar Collapse

  • X22Report Published on Oct 3, 2017
    The unemployment rate in the EU has been unchanged since 2009 but the youth unemployment rate is very high. Mortgage lenders are now taking it to the next level, they will help with student loan payments if the student purchases a house and takes out more debt. Russia and China are hoarding gold to prepare for the collapse of the dollar. 

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

$21 Trillion Missing: U.S. Government a Criminal Enterprise. Deep State Globalists Want to Destroy US Constitution – Catherine Austin Fitts

  • $21 Trillion Missing – U.S. Government a Criminal Enterprise. Deep State Globalists Want to Destroy US Constitution – Catherine Austin Fitts
    by Greg Hunter’s USAWatchdog.com (Early Sunday Release)
    Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says you can add $21 trillion of missing federal money on top of the $20 trillion U.S. deficit. It’s all in a new explosive report on Solari.com.  Fitts explains, “This is $65,000 for every man, woman and child resident in America.  In addition, it is now more than the outstanding official debt on the U.S. balance sheet. . . . We know that the U.S. government has been run like a criminal enterprise from a financial standpoint.”

    The new report was put together by Dr. Mark Skidmore at Michigan State University, and it is a detailed year-by-year study of DOD and HUD budgets between 1998 and 2015. The missing money is called “undocumentable adjustments,” but that may just be a polite name for theft, fraud and crime against “We the People.”  Fitts contends, “Here’s the critical issue because technology is leading us through tremendous change, and the people who get their hands on this technology and are able to subsidize the cost of capital are the ones that are going to win.  They have done that by basically hijacking the federal credit and using it to help centralize power under them.  So, we have to reverse that, and the Constitution is the tool to hold them accountable.  All their arguments just fall down when you realize they have just stolen an enormous amount of money from the federal government outside the law. . . . The U.S. Federal government doesn’t have information sovereignty, and it doesn’t have financial sovereignty.  So, we have to return it to that, and we have to keep that mechanism open long enough to get this money back.”

    read more.

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October 2, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | Leave a comment

The Struggle Continues And The World Is Changing, Change Is Need In The US: Harley Schlanger

October 2, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Gordon Long: Markets in Delusional Phase. Gold Price Will Explode When System Breaks

  • Gordon Long: Markets in Delusional Phase. Gold Price Will Explode When System Breaks
    by Greg Hunter’s USAWatchdog.com 
    Private investor Gordon Long contends the price of gold will shock the world when it revalues to reflect the massive amount of currency that has been printed globally. Long explains, “That is correct, and it won’t be something that is gradual, it will be very abrupt.  The system will break . . . and the financial markets will freeze up.  When they come out of the other end of that freeze, and it may be a number of weeks because the next crisis will be global and much more complex than 2008.  We could control that with the Federal Reserve . . . and this one you cannot do because you cannot get agreement with all those countries.  Never mind understanding the complexity.  So, when we come out on the other side . . . there will be a massive revaluation in the U.S. dollar. . . .  Gold could jump to $5,000 or $10,000 an ounce or something like that. . . . It will be massive.  They will have to put some stability in the monetary system, and the only way they can do it is having something they cannot print.  This is what has gotten us into this problem.  We have to get back to sound money.  It will have to be gold.  What percentage of backing will determine what the value the gold will be.”


    On the value of the U.S. dollar, Long contends, “Personally, I think the revaluation of the U.S. dollar will be well over 70% devaluation. It doesn’t mean the world is coming to an end.  It just means you have to go through this to reset.  Those who prepare and understand why this is happening and watch for the signals, there’s going to be fortunes transferred.  They are being transferred right now, frankly.  One other big caveat on gold prices going way up, expect the government to tax it like you have never seen before.”

    read more.

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September 29, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , | Leave a comment