Socio-Economics History Blog

Socio-Economics & History Commentary

Look Who’s Frantically Demanding that Taxpayers Stop Italy’s Bank Meltdown

Eurozone_Collapse

  • Look Who’s Frantically Demanding that Taxpayers Stop Italy’s Bank Meltdown
    by , http://wolfstreet.com/  
    New Opportunities for “America’s Most Corrupt Bank.”
    It was a perfect gift to a desperate market. All that was needed was a gentle hint that Italy’s troubled banks and their bondholders might not be hung out to dry. A “public backstop” for Italy’s weakest lenders would be a “very useful” measure in these “exceptional times,” ECB President Mario Draghi said.


    Most Italian and European bank stocks surged.
    The ECB is the second member of the institutional triad formerly known as the Troika to have called for a taxpayer funded bailout of Italy’s banking system. Earlier this month the IMF used its article IV consultation – an annual economic and financial health check – to warn of “global spillovers” from a full-blown Italian banking crisis, “given Italy’s systemic weight.”

    Desperate times call for “significant measures,” says IMF economist Juan Toro. These measures include a taxpayer-funded state intervention, a practice that was supposed to have been consigned to the annals of history by Europe’s enactment of new bail-in rules on Jan 1, 2016. The idea behind the new legislation was simple: never again would taxpayers be left exclusively paying to bail out bondholders of Europe’s insolvent banks.

    But even before the ink has dried, the new rules are about to be broken, or at least bent beyond recognition. Apparently this is necessary for two main reasons:

    read more.
http://www.express.co.uk/news/world/688424/Struggling-Italy-banks-could-spark-financial-crisis-EU-refuses-to-help

If Italian banks fall, French and German banks are toast. The EU and Eurozone will collapse. Click on image for article.

http://www.express.co.uk/finance/city/686853/Italy-s-deepening-banking-crisis-could-rip-the-eurozone-apart-warn-experts

Click on image for article.

JPMorgan-Italy_banks_insolvency

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July 25, 2016 Posted by | Economics | , , , , , , , , | Leave a comment

Why This Could Be the End of Europe as We Know It

EUrope_collapse_cartoon

  • Why This Could Be the End of Europe as We Know It
    by https://www.caseyresearch.com/  
    The world’s biggest economy is unraveling.
    Regular readers know we’re talking about the European Union (EU). The EU is an economic union made up of 28 countries. It was put together after World War II to keep European countries from going to war with one another.

    Over time, it turned into the world’s biggest economic experiment. And, right now, that experiment is going awry.

    As you probably heard, the United Kingdom voted to leave the EU a month ago. The “Brexit,” as folks are calling it, shook financial markets from London to New York City. It knocked more than $3 trillion from the global stock market in two days.

    Then, things calmed down. Over the past three weeks, global stocks have regained more than $4.5 trillion. The S&P 500 and Dow just hit new all-time highs. Many folks now think things are OK in Europe.

    As you’re about to see, things aren’t fine. That’s because Europe now has a much bigger problem than the Brexit. Italy, Europe’s fourth biggest economy, is racing toward a full-blown banking crisis.

    Today, we’ll show you why this isn’t just a problem for Italy. It’s a serious threat to all of Europe. One of our analysts even says Italy’s banking crisis could trigger the end of Europe as we know it.

    • Italy’s banking system is a disaster…

    Financial Times
    reported last week:

    The amount of gross non-performing loans held by the [Italian] banks increased 85 per cent to €360bn in the five years to 2015… The total stock of bad debts — the most distressed part of the pile — more than doubled over the same period.

    read more.
http://www.express.co.uk/news/world/691326/Italy-prime-minister-Matteo-Renzi-political-financial-break-down-Eurozone-European-Union

Click on image for article.

http://www.telegraph.co.uk/business/2016/07/16/why-italys-banking-crisis-will-shake-the-eurozone-to-its-core/

Click on image for article.

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July 25, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

Bo Polny Predicts Worst Stock Market Crash in History By End Of The Jubilee Year on October 2

  • Published on Jul 22, 2016
    Jeff interviews Bo Polny of Gold2020 Forecast topics include: the Shemitah market cycles, the timing of Brexit, 9/11 and the assassination of John F Kennedy in the market, a whole lot of other important events fall on Shemitah cycle dates, the US to hit its debt ceiling, activities of the Pope take place on Shemitah & Jubilee dates, Israel, Syria and Turkey, new nuclear ambitions in the U.K. Bo’s predictions regarding the DOW, time to get out of the markets and into gold and silver, the gold cycle shows upcoming all time highs, the TDV portfolio is up 200% this year so far!

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July 25, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | Leave a comment

NATO ON EDGE: Top Military Chief Warns Putin is Ready to Start World War Three ‘OVERNIGHT’

http://www.express.co.uk/news/world/692601/NATO-military-chief-warns-Vladimir-Putin-invade-Poland-start-World-War-Three

Click on image for article.

  • It appears the western Illuminati is desperate to start their Satanic WW3. It implies that they will not prop up the financial markets much longer. They need their WW3 as a distraction for the sheeple to mask the global economic, financial and currency collapse. They will blame it on this WW3, terrorism … anything but themselves. WW3 will not just be Europe but it will also be in the Middle East and Asia. All the forces are in place to trigger WW3. Expect false flag attacks blamed on Russia to ignite war. Persistent rumours of Operation BlackJack 2.0, a series of nuclear false flag attacks on 5-7 major western cities, going ‘Live’ in the summer (to be blamed on ISIS, Muslim terrorists).
  • My understanding is that, all 3 arms of the Illuminati: western Illuminati, Russian and Chinese Illuminati have agreed to this Satanic WW3. The Satanic cabal is deceiving the sheeple into hating and killing each other. The sheeple think it is war: US+NATO+Europe vs Russia, US+Allies vs Russia+Allies in the Middle East, Christian West vs Muslim World, US+Japan+Philippines vs China in Asia … In reality, it is: Satan and his minions vs the Rest of Humanity.
  • This coming Satanic WW3 is really about laying the foundation for the coming of the Anti-Christ. The Man of Sin will bring about “PEACE”, when no one, no government could do so; in a world wrecked by global wars, societal collapse, economic, financial, currency collapse, violence, genocide …
From: Vintage 'Trees' music video. All humanity forming a pyramid worshipping, welcoming the Satanic capstone! The Anti-Christ, the bringer of false peace, the white horseman of Revelation 6 ! The completion of the New World Order project, in a world wrecked by global wars, collapse and chaos!

From: Vintage ‘Trees’ music video. All humanity forming a pyramid worshipping, welcoming the Satanic capstone! The Anti-Christ, the bringer of false peace, the white horseman of Revelation 6 ! The completion of the New World Order project, in a world wrecked by global wars, collapse and chaos!

http://www.biblegateway.com/passage/?search=Revelation+6%3A2&version=NKJV

Who owns the world reserve currency, the dollar, the global monetary hegemony? Look at the Satanic capstone on your dollar bill. The Luciferian New World Order will be complete with the arrival of the Satanic capstone: the Anti-Christ, fake messiah, bringer of false peace, the white horseman of Revelation 6!

Who owns the world reserve currency, the dollar, the global monetary hegemony? Look at the Satanic capstone on your dollar bill. The Luciferian New World Order will be complete with the arrival of the Satanic capstone: the Anti-Christ, fake messiah, bringer of false peace, the white horseman of Revelation 6!

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July 25, 2016 Posted by | GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Gerald Celente: WW3 To Prevent Worst World Market Crash in History

  • Published on Jul 23, 2016
    Gerald Celente, popular guest is back to discuss the further progression on war propaganda and market crashes. He states that the richest 62 people have more wealth than the entire world.

    Checkout Gerald’s new Site for Peace: http://OccupyPeace.US & The Trends Journal: http://TrendsResearch.com 

    TOPICS IN THIS INTERVIEW:
    02:20 28 Pages Implicating Saudi Arabia in 9/11
    05:40 Turkey fake coup, more on Middle East Destabilization
    08:40 World Standard of Living Dropping, Elite 0.1% Enriched
    09:45 Stock Market Propped up from Collapse Years Ago
    14:40 How will US Economy Collapse & Next QE Scam
    16:40 Potential World War 3 to Prevent Huge Collapse

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July 25, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Gold Standard After Massive Crash? Jerry Robinson Q&A

  • Published on Jul 22, 2016
    Viewers’ Questions: 

    – Will the paper and physical prices of precious metals decouple? ►0:33 
    – Will silver be used for bartering? ►7:07 
    – Will gold and silver metal or mines be confiscated? ►11:05 
    – If most of the major nations of the world are facing catastrophic debt problems including the US, the EU, China, Japan, Brazil, etc., won’t all of them have an incentive to launch wars against each other to deflect attention from their own financial and governmental malfeasance? ►15:15 

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

Japan Is Signalling The End-Game For The U.S. . Tokyo TOCOM Launches Physical Gold Trading

Remember the Golden Rule: "He who has the gold Rules!"

Remember the Golden Rule: “He who has the gold Rules!”

  • Japan Is Signalling The End-Game For The U.S.
    by Dave Kranzler, http://investmentresearchdynamics.com/ 
    On a side-note, it’s important to know that late July/early August is seasonally the most quiet part of the year for the biggest eastern hemisphere gold accumulators. And we’re going into the “roll” period, when the bulk of the massive blob of August paper gold “rolls” into December, the next “front month” for Comex Paper gold. Having said that, China has actually slightly increased its gold imports this month. India has been in hibernation since March 1 but it’s biggest seasonal buying period starts in about four weeks. Unless smuggled gold into India is significantly greater in volume than anyone understands, India’s demand will be somewhat price inelastic and its elephantine appetite for gold will have a big impact on the price of gold.

    This leads us to Japan. Curiously, Japan announced announced last week that its TOCOM commodity exchange (Japan’s less corrupted CME-equivalent) would begin trading physical gold – like the Shanghai Gold Exchange – on July 25th – TOCOM Physical Gold.  It also announced that it would be introducing a delivery-at-settlement option for its current-month gold futures contract. That is, TOCOM gold futures buyers will now have the ability to take delivery of physical gold via TOCOM’s paper gold.

    The news of this event was largely muted in the western financial media and even the alternative media blogosphere largely seems to have overlooked the news release. But this is a highly significant development because it signals a subtle shift in Japan’s economic and monetary focus from west to east.  It will also create an big upward price-readjustment in gold and silver.

    read more.

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

Former Fed Governor: Fed Is Not Data Dependent; It Is Propping Up Asset Markets

Don't you see the Illuminist pyramid and Satanic capstone on your dollar bill? The symbol of the Anti-Christ.

Don’t you see the Illuminist pyramid and Satanic capstone on your dollar bill? The symbol of the Anti-Christ.

  • Former Fed Governor: Fed Is Not Data Dependent; It Is Propping Up Asset Markets
    by , http://schiffgold.com/ 
    Earlier this year, Peter Schiff picked up on something few reported on when a former Federal Reserve president admitted the central bank created a phony wealth effect by pumping up stocks and other asset markets through its monetary policy. Several months later, analysis proved this was true, showing that 93% of the entire stock market move since 2008 was caused by Federal Reserve policy.

    Today, the Fed continues to focus on propping up asset markets. Even a former Federal Reserve governor admits this is the case. Kevin Warsh appeared CNBC’s Squawk Box on Thursday and said the Fed isn’t really “data dependent” in the sense that it is looking at the overall economy. It is really market dependent.

    They look to me asset price dependent more than they look data dependent. When the stock market falls like it did in the beginning of this year, they say, ‘Oh, we better not do anything.’ Stock markets are now at career highs. I suspect when they meet over the course of the next 10 days they will suggest, ‘Oh, now they look like they can be somewhat more responsible.’ I don’t like changing policy meeting to meeting based on data, or even with what the S&P 500 is doing. I like making it based on what’s happening on the real side of the economy, and that has not been very convenient over the last six to nine months.”

    read more.

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

Italian Tax Debt Hits ‘ALARMING’ Levels, Warns IMF – The Same Spark that Toppled Greece

http://www.express.co.uk/news/world/688424/Struggling-Italy-banks-could-spark-financial-crisis-EU-refuses-to-help

If Italian banks fall, French and German banks are toast. The EU and Eurozone will collapse. Click on image for article.

  • Italian Tax Debt Hits ‘ALARMING’ Levels, Warns IMF – The Same Spark that Toppled Greece
    by REBECCA PERRING, http://www.express.co.uk/  
    ITALY needs to overcome fragmentation within its financial system, the International Monetary Fund has warned as the eurozone’s third biggest economy faces challenges in the aftermath of Brexit.

    Financial watchdogs described the nation’s fiscal debt as “alarming” and warned structural problems must be addressed as it unveiled the state of Italy’s tax agencies. 

    The IMF published a report this week titled “Italy: Enhancing Governance and Effectiveness of the Fiscal Agencies,” as part of the Fund’s Capacity Development function, which aims to help countries improve public administration.

    According to Rai.TV, Juan Toro of the International Monetary Fund (IMF), claimed it was necessary to take significant measures in the recovery of credit.

    The Italian government is currently failing properly to collect tax revenues – one of the reasons behind Greece’s financial crisis.

    In a separate report, concerns Italy is on the brink of financial and political meltdown are rising and leader Matteo Renzi may be about to push it over the edge by calling a referendum on constitutional reform in October, potentially plunging the already beleaguered European Union into fresh chaos. According to the report one of the country’s biggest challenges is the evasion of VAT, which peaks to around 30 per cent over two to three years. 

    read more.

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

Gerald Celente: “Stop The March To World War!”

  • Published on Jul 22, 2016
    “US stocks close at record highs”, “American exports to China sink further” and the US has released the Saudi documents regarding 9/11. 15 out of 19 who reportedly launched attacks on the World Trade Center were Saudis”.

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July 23, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , | Leave a comment

European Financial System is ‘Nearing a Grand Catastrophe’

  • European Financial System is ‘Nearing a Grand Catastrophe’
    by http://sputniknews.com/  
    The cheap money policy of the European Central Bank creates risk for the entire European financial system, a German economist said.

    The European Central Bank purchased €85.1 billion ($94.8 billion) of debt in June as it increased its asset-purchase program, Bloomberg reported. The asset-purchase program is part of the ECB’s quantitative easing plan. The pace of buying in June compares with a target of €80 billion per month. Thus, the bank is directly investing into the European economy, bypassing the banking system.

    This program creates significant risks while its advantages are questionable, financial expert Ernst Wolff said. He warned that the initiative may result in a total financial collapse.

    The analysts explained that the ECB policy creates serious risks for small and less developed countries like Greece. At the same time, big economies like Germany take advantage of working with the regulator because the ECB acts in favor of rich and powerful investors.

    In addition to corporate bonds, the ECB is buying government bonds. However, according to its rules, the bank cannot purchase bonds at a yield lower than the bank’s deposit rate, which is currently —0.4 percent.

    However, Wolff noted, the ECB usually violates the rule, in particularly buying German government bonds.

    read more.

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

US Turning Up The Heat All Around The World To Get WWIII Started

  • Published on Jul 21, 2016
    Ukraine and Canada going to send a security agreement. Fighting intensifies in Ukraine, OSCE reports bombings in the South East. French forces caught in Libya, Libyan Unity government says forces need to ask permission. Kerry rallying the coalition forces to come together share intel to remove Assad. 5,000 ISIS soldiers sneak into Syria from Turkey, but turn out to be Turkmen. The entire coup seems to be theatrical as Erdogan gains more power.

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July 22, 2016 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Italy MUST Act NOW: IMF’s URGENT Warning to EU as Italian Debt Hits ‘ALARMING’ Levels

http://www.express.co.uk/news/world/691716/Italy-finance-banks-International-Monetary-Fund-warning-Brexit-Matteo-Renzi

Click on image for article.

http://www.telegraph.co.uk/business/2016/07/16/why-italys-banking-crisis-will-shake-the-eurozone-to-its-core/

Click on image for article.

http://www.express.co.uk/news/world/691326/Italy-prime-minister-Matteo-Renzi-political-financial-break-down-Eurozone-European-Union

Click on image for article.

http://www.express.co.uk/news/world/688424/Struggling-Italy-banks-could-spark-financial-crisis-EU-refuses-to-help

If Italian banks fall, French and German banks are toast. The EU and Eurozone will collapse. Click on image for article.

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

END OF EU: Fears in Germany that Brexit Could Lead to Break Up of European Union

Brexit-Abandon_EU_ship_cartoon

  • END OF EU: Fears in Germany that Brexit Could Lead to Break Up of European Union
    by TOM PARFITT, http://www.express.co.uk/  
    NINE out of 10 German business leaders believe the EU is in a “critical” situation after Britain’s vote to leave, a new survey has revealed.

    The poll of 506 company executives laid bare the widespread concern in Germany that Brexitcould spark the break-up of the crumbling union. Two-third expect the EU’s global political power to decline while 40 per cent believe other countries will follow Britain out of the exit door. Renate Kocher, the head of the Allensbach Institute, which conducted the research, said: “The EU needs extensive reform to prevent further exits.”

    More than half of those polled believed the British economy will suffer “considerable damage” as a result of last month’s historic Brexit vote. But just 15 per cent anticipate heavy losses for Germany’s economy, despite the fact Germany is the UK’s largest export market in Europe. And nearly three-quarters believe major decisions should be made by the country’s parliament rather than put to the public in the form of referendums. 

    read more.
http://www.wnd.com/2016/06/european-superstate-suggested-as-brexit-solution/#!

Click on image for article.

http://uatoday.tv/politics/european-superstate-instead-of-e-u-680410.html

Click on image for article.

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

Déjà Vu, The Economic Indicators Look Alot Like 2008

  • Published on Jul 20, 2016
    Tech companies, financial institutions are continually cutting jobs.White House put together a report telling the American people that student debt is good. The housing market is starting to look a lot like 2008, bubbles everywhere. The IMF are a bunch of clowns and almost everyone of their predictions did not come true.

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

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