Socio-Economics History Blog

Socio-Economics & History Commentary

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

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

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

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

China Begins To Reset The World’s Reserve Currency System

Get the message: Gold backed Chinese Yuan / RMB.

  • China Begins To Reset The World’s Reserve Currency System
    by Dave Kranzler, http://investmentresearchdynamics.com/
    It’s a strategic move swapping oil for gold, rather than for U.S. Treasuries, which can be printed out of thin air.  – Grant Williams

    A report released by the Nikkei Asian Review indicates that China is prepared to release a yuan-denominated oil futures contract that is convertible (backed by) physical gold.  The contract will enable China’s largest oil suppliers to settle  oil sales in yuan, rather than in dollars, and then convert the yuan into gold on exchanges in Hong Kong and Shanghai.

    This is a significant step in removing the global reserve currency status of the dollar and resetting the the global economic and geopolitical “landscape.”  Over the past several years, China has quietly established yuan-based currency exchange facilities, which has set up the ability to implement this new non-dollar trade settlement financial instrument. According to the Brookings Institute, 34 Central Banks around the world have signed bilateral local currency swap agreements with the PBoC as of of the end of September 2016, including the major oil-producing countries.  With this new contract, China’s largest oil suppliers will now be able to transact directly with China, and other oil importing countries, using yuan which are directly convertible into gold to settle the trade.

    As Alasdair Macleod asserts, “It is a mechanism which is likely to appeal to oil producers that prefer to avoid using dollars, and are not ready to accept that being paid in yuan for oil sales to China is a good idea either.”

    Since 1973, OPEC oil has been quoted and traded using to U.S. dollars, otherwise known as “petrodollars.”  The “recycling” of petrodollars into U.S. Treasuries has been the life-blood of the U.S. economic and political system.  In addition to reducing a major source of funding for the the U.S. Government’s enormous deficit spending, the introduction of a gold-backed yuan oil futures contract is an important step toward removing the dollar as the world’s reserve currency. More significantly it reintroduces gold into the global monetary system.

    While the new gold-backed “petroyuan” will allow oil producers to sell oil for gold rather than Treasuries. Furthermore, it reduces the ability of the U.S. Government to impose its will on the rest of the world.  
    It’s a strategic step toward not only ridding the world of its dependence on dollars, but also of reducing the ability of the U.S. to exert global economic and financially tyranny.   I would also argue that it’s one of the primary reasons behind the inability of the western Central Banks to drive the price of gold lower recently.

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

De-Dollarization Begins, China Readies Yuan Base Crude Oil

  • X22Report Published on Sep 4, 2017
    Countries are now starting to make laws to control cryptocurrencies like Bitcoin. The everyday American cannot afford to live and cannot live the American dream.  China is now pushing the agenda to de-dollarize. China will be backing crude oil using the yuan that will also be backed by gold. The western financial system is now moving to the east. The central bankers have completed the setup and is now getting ready to switch over.
  • X22Report Published on Sep 5, 2017
    Leaked BREXIT document shows the UK establishing new rules on immigration. We are now seeing signs that gold is getting ready to break out. Lego is now laying off 1500 people. Factory orders implode and the economy continues to deteriorate. Latest NAFTA negotiations are not going well, all sides have not come to any agreements. The BRICS are now allowing more countries to join and they are establishing a rail system for the belt & road.

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

Your Pension, IRA, 401K – They’re All At Risk! | Lynette Zang

  • FinanceAndLiberty.com Published on Sep 3, 2017
    Lynette Zang explains why your assets could be at risk of falling into a financial black hole. She says, “If you don’t hold it, you don’t own it.”

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September 5, 2017 Posted by | Economics, Social Trends | , , , , , , , , , , , , | Leave a comment

Bill Holter: Ending Will Be Financial Collapse Where Credit Stops

  • Bill Holter: Ending Will Be Financial Collapse Where Credit Stops
    by Greg Hunter’s USAWatchdog.com (Early Sunday Release)
    Financial writer Bill Holter says 2017 is the year of the “truth bombs,” and along with the truth comes pain. Holter explains, “Unfortunately, the truth coming out will mean a crashed system.  It will mean a nonfunctioning system.  When truth finally comes out, and it will one way or the other, credit will cease because credit is based on trust.  Credit is handed out on trust, and when the truth comes out, credit will cease.  Then the system is going to have to reboot.”

    What will our world look like when credit has stopped? Holter says, “Basically, with a credit seizure, that means distribution breaks down.  If you have seen any pictures of any of the Walmarts and grocery stores in Houston, the shelves are empty.  I live outside of Houston, and all the bread is made there, and there is no bread.  Now, forget about a flood, and imagine that there is no credit.  Without credit, nothing gets done.  Farmers can’t plant.  Farmers can’t harvest.  They can’t ship it to the silo.  The grain can’t be manufactured into bread, and once it’s bread, it can’t get shipped to the final destination because every one of those operations involves credit.  So, when credit stops, you are basically going to see a seizure of all goods making it to markets.”

    What other truth bombs are on Holter’s truth bomb list to be revealed? Holter says, “The biggest truth bomb I’d like to see come out would be to get to the bottom of the human trafficking and the pedophilia.  I would just like to save the children that are being molested.  I am basically 100% convinced that this is one of the biggest problems.  Other truth bombs would include the news services.  You have outlet after outlet throwing crap against the wall, and they all throw crap against the wall hoping some of it will stick.  None of it makes sense, and they are the ones that came up with the term ‘fake news’ when somebody tells the truth.  What they are doing is trying to brainwash the public.”

    read more.

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September 4, 2017 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , | Leave a comment

Jim Willie: The End of US Dollar Hegemony

Click on image to download MP3 interview.

  • Jim Willie: The End of US Dollar Hegemony
    by https://www.tfmetalsreport.com/
    Well, here we are…the unofficial end of summer. It’s Labor Day weekend here in the U.S. which means we are in the midst of a 3-day weekend. And you know what that means here at TFMR! Fresh Jackass for everyone! When Jim and I recorded this back on Thursday, time was somewhat short. So, with this constraint in mind, I asked Jim to focus on two, primary topics:

    1. Since we last spoke in July, what changes have occurred in the world of US dollar hegemony? Is the China-Russia-Saudi connection accelerating the demise of the petrodollar system?
    2. The current US debt and political situation and how this will increasingly impact global markets as traders return en masse on Tuesday.

    Just two topics yet over an hour of audio? Yep, that’s how it works and you’re just going to have to listen to the entire thing if you want to unearth all the nuggets of knowledge that The Jackass has left behind for you.

    Enjoy and have a great weekend!
    TF

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

Rickards: Here’s How to Crack the Code on Gold — It Won’t Be A Parabolic Rise But $10,000 Gold Is Coming

  • Rickards: Here’s How to Crack the Code on Gold — It Won’t Be A Parabolic Rise But $10,000 Gold Is Coming
    by CRAIG WILSON, https://dailyreckoning.com/
    Jim Rickards joined Kitco News and Daniela Cambone to discuss the latest news and analysis from gold markets, geopolitics and even bitcoin.  The Wall Street veteran took on the bigger picture facing metals investors and what could be just around the corner in a bubbling market.

    When asked why certain geopolitical tensions have greater impacts on gold and hard assets than others Rickards remarked, “There are two things going on, first is that the North Korean missile threat goes from high tension to back down again. This is a very serious threat and we are headed for war with North Korea. While I don’t know what it will take to not just get gold to go up but stocks and other sectors, ultimately markets are going to be impacted.”

    “People seem to have very short attention spans but that’s not how to think about it. It’s possible to see that Kim Jong-un is not deviating from his path to get nuclear weapons, the U.S will not allow it. There’s no middle ground there. It would be great if we could have diplomacy. I think we should also ratchet up sanctions on China. But I don’t see either of those happening.”

    Jim Rickards is the editor of Strategic Intelligence and is the New York Times best-selling author of The Road to Ruin. Rickards’ worked on Wall Street for decades and has advised the U.S intelligence community on international finance, trade and financial warfare.

    “Don’t underestimate the extent to which gold is being impacted by hedge funds, leverage players, and others that are in the mix for the current high in gold. They don’t really care if it is gold, soybeans, etc. but it is simply another commodity. They receive a nice profit with tight profits, tight stops.”

    read more.

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

Jim Willie: All American Finance Is Fraud

https://ochelli.com/wp-content/uploads/2017/08/The-Ochelli-Effect-2017-08-30.mp3

Click on image for MP3 audio interview.

  • Jim Willie: All American Finance Is Fraud
    by https://ochelli.com/, http://goldenjackass.com/
    Oil and the Petro-dollar , as Houston is pounded by Hurricane Harvey. What’s the reality of the trail of Gold Bars that are allegedly in Fort Knox? Jim Willie helps us follow the money as White Dragons make deals , Rothschild Family divides and the Chinese continue bailing out of the sinking ship that is the U.S. Dollar. All American Finance Is Fraud . How Much Gold would it take to back a U.S. Dollar ? Snowballs or ice pops in Hell? Banks and their Cartel Customers? Drugs , Oil , Blood , just a different bank bag containing the same shit. All American Finance Is Fraud Government is paralyzed by debt, ceiling or No ? All American Finance Is Fraud . We only had an hour with Jim Willie but if you need to know more … Which you do … Go Get :  Follow That Money

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

Germany & The US Strangely Broadcast Messages About Gold Holdings

  • Published on Aug 24, 2017
    UK retail sales decline at the fastest pace since 2016.  Sears is in trouble they are closing more stores as sales decline. First it was new home sales, now its existing home sales, the real estate market is imploding. Germany has been repatriating their gold and the US visited Fort Knox to assure the American people that the gold is there. Why now, are countries preparing the collapse of the system. Looking at the gold Germany has received something does not look right. 

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August 29, 2017 Posted by | Economics | , , , , , , , , , , , , , , , | Leave a comment

EUROPE PANICS: EU’s Brexit Unity on the BRINK as French Urge for Compromise in Trade Talks

  • EUROPE PANICS: EU’s Brexit Unity on the BRINK as French Urge for Compromise in Trade Talks
    by SIMON OSBORNE, http://www.express.co.uk/
    EUROPEAN Union’s Brexit position after France and other EU nations signalled they were willing to tear up the Brussels-imposed timetable on negotiations and get trade talks under way in October.

    The French proposals could lead to a major climbdown by European Unions hardliners who insist the terms of Britain’s departure need to be thrashed out before any free trade discussions get under way.

    The UK refuses to write any cheques unless payments are linked to a future trade deal with the EU, while Brussels insists there can be no trade talks until the money question is settled. But in a sign of growing tensions and possible splits within the EU, senior French diplomats have now made it clear they want the deadlock broken.

    read more.

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