Socio-Economics History Blog

Socio-Economics & History Commentary

Jim Willie: Two Key Events Will Unleash Gold — The Global Currency Reset Has Already Begun

  • Jim Willie: Two Key Events Will Unleash Gold — The Global Currency Reset Has Already Begun
    by Jim Willie CB, 
    TIMBER!! That is the standard cry in the forest industry among loggers who cut down giant trees, the warning to step aside for the great impact. GET READY FOR THE SIMULTANEOUS BANKING CRISIS IN THE THREE BIGGEST EUROPEAN ECONOMIES: GERMANY, FRANCE, ITALY. The United States and the London Centre will not be able to avoid the crisis.

    Try that again. TIMBERRRR !! An event of monumental importance and impact is on the verge of occurrence. The largest bank in Europe is Deutsche Bank. Its credit default swap is rising in cost, while its stock price has entered single digits in a powerful decline. The great D-Bank, site of the European office in management of the multi-$trillion derivatives, is on the verge of financial failure. It is the largest bank in all of Europe. All of its business segments are impaired and losing money in a hemorrhage. Furthermore, it is a big bond holder for Italian Govt Bonds. The Italian banking system is in the death throes, which has finally been recognized. Their recent elections openly debated pathways in the face of banking system failure, which the Jackass has been expecting for over a year in steady coverage with analysis. However, the bigger bond holder for Italian debt is France. Expect a massive bank crisis to emerge very soon that wrecks Societe General and BNP Paribas, its two largest banks.

    The Global Currency RESET has begun, hardly with fanfare and parades, or even formal public statements by the main players. Many are the events and steps toward the planning and execution of the RESET, which will be very disruptive, and make the Lehman failure seem rather minor by comparison. The Jackass has consistently called what comes to be the Systemic Lehman Event, since major sovereign bonds have become subprime in quality, kept sustained by central banks with their QE.

    An astute and very well-informed source with solid connections has provided important direction on the development. Timing is always difficult. He looks toward two key events that soon will trigger a global financial crisis, complete with a wave of reforms and solutions sought, all amidst great changes in financial markets. Expect a complete restructuring of the financial world we know it, as in debt restructure. The result will be a gold-centric financial structure, with central banks honoring finally the Gold Standard and the gold asset in banking reserves.

    read more.


June 5, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

THE PARTY IS OVER: Who Will Clean Up the Mess?

  • ITM Trading Streamed live on May 30, 2018
    Link to Slides and Sources:…
    Sounds starts a minute in. Sorry for the audio! In 2007 the financial crisis began to unfold as the US dollar crashed through the last long-term support level and rapidly plunged to lows never before seen and the USD carry trade was born. As yields were pushed to new lows, money printing exploded to new highs. Risky governments and corporations saw huge demand with interest rates ridiculously low, that borrowing spree lifted the global debt record to over $217 trillion. But now the party is over. One look at the derivative spot gold markets in terms of emerging market currencies says it all. They are up. At some point, when these governments are forced to show the truth, gold will be reset much higher. If you own it when this happens, you will not have to clean up the mess.


June 5, 2018 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

Deutsche Bank Is Big Enough A Collapse Could Bring Down The Economy: Wolf Richter

June 5, 2018 Posted by | Economics | , , , , , , , , | 1 Comment

Why Is The Mainstream Media Suddenly Buzzing About “Another Global Financial Crisis”?

  • Why Is The Mainstream Media Suddenly Buzzing About “Another Global Financial Crisis”?
    All of a sudden, the mainstream media is starting to sound a lot like The Economic Collapse Blog.  Throughout the Obama years, the mainstream media in the United States always seemed extremely hesitant to suggest that difficult economic times may be ahead, but now talk of “another global financial crisis” seems to be all over the place.  Is this because they truly believe that one is coming, or is it just another angle that they can use to attack Donald Trump?  In any event, it is undeniable that evidence is mounting that big trouble could be right around the corner.  European financial markets are already in meltdown mode, a major international trade war has just erupted, the worst “retail apocalypse” in modern U.S. history is accelerating, and our debt problems continue to grow with each passing day.  Normally the mainstream news is much more subdued than I am about all of this stuff, and so I was very surprised to see reporter James Pethokoukis come out with an article entitled “Here comes another global financial crisis”…:

    Investors are increasingly worried that an escalating political crisis in Italy could lead to a populist, euroskeptic government taking power. As a result, there’s rising uncertainty about whether the country might eventually abandon the euro currency zone or default on its giant debt pile. To make things worse, the Trump administration continues to toy with the idea of a trade war with Europe and China. That would be the last thing the global economy would need if the Italian situation deteriorates further. Debt crises and trade wars are a toxic combination.

    And remember, this comes just days after George Soros ominously declared that “we may be heading into another major financial crisis.” So what has changed? Certainly, what is happening in Italy is starting to get everyone’s attention.  Here is more from James Pethokoukis

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June 4, 2018 Posted by | Economics | , , , , , , , , , | Leave a comment

Expert Preparing for ‘CATASTROPHIC Event’ Which Could HIT Italy and European Banks

  • Expert Preparing for ‘CATASTROPHIC Event’ Which Could HIT Italy and European Banks
    EXPERTS have warned Italy’s political crisis will continue to affect the stability of the global market, with economist Ian Shepherdson warning investors to prepare for a “catastrophic event” that could rock Italian and European banks.

    The economist said investors will have to consider the “low probability” of a hard hit to the Italian economy as the country plunges into political crisis. Instability in  and continued concerns over Brexit have pushed the price of the EU common currency down in a torrid week for European traders.

    In a statement to CNBC, Mr Shepherdson said: “Investors have to price-in the low probability of an absolutely catastrophic event, which would result in enormous stresses on European banks, capital controls in Italy, and a collapse in asset prices.”

    The decision has effectively blocked parties Lega and Five Star Movement (M5S) from forming a populist coalition Government.

    Global markets reacted poorly to the political uncertainty, with the Italian stock market plummeting down 3 percent on May 29 after losing 10 percent throughout May.

    Krishna Guha from Evercore ISI said: “Markets will live under a cloud from Italy risk with a high probability of further bouts of stress over the months ahead, which should keep global safe bond yields from moving aggressively higher.” Investors across Europe have been nursing a growing concern that a new vote in Italy could become a de facto referendum on the eurozone.

    President Mattarella’s decision to veto Prof Savona was blasted by eurosceptic Lega leader Matteo Salvini, who put forward the name of the anti-euro economist.

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June 2, 2018 Posted by | Economics | , , , , , , , , | Leave a comment

Italy Ready to QUIT EURO: Lega’s Matteo Salvini Reveals Plan for Italexit in SHOCK Footage

  • Italy Ready to QUIT EURO: Lega’s Matteo Salvini Reveals Plan for Italexit in SHOCK Footage
    ITALY’S new government could be on the verge of sensationally quitting the Eurozone after footage emerged of Lega leader Matteo Salvini revealing plans for ‘Italexit’.

    In the video, filmed in July 2016, the right-winger vowed to lead Italy out of the common currency if his party was to form a government. Mr Salvini, 45, told an event in Rome that his party would quit the embattled eurozone without even holding a referendum on the issue. He said: “You do not need a referendum because it would be a massacre for the Italian economy. “I say that if the League goes to the government, we leave the euro.”

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June 1, 2018 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Italy: Anti-EU Alliance is BORN – Populist PM SWORN in Today in EU’s WORST NIGHTMARE

  • Italy: Anti-EU Alliance is BORN – Populist PM SWORN in Today in EU’s WORST NIGHTMARE
    ITALY populist forces and President Sergio Mattarella have made a breakthrough which looks like creating the European Union’s biggest nightmare: a eurosceptic government in the eurozone’s third-biggest economy.

    The longest-ever political crisis in the history of the Italian Republic looks over after a long day of talks between all political forces. Lega’s Matteo Salvini and Five Star Movement’s Luigi Di Maio found an agreement and assigned the eighteen ministerial posts available after a four-hour long meeting.

    The eurosceptic pair will both be deputy prime ministers of a government led by law professor Giuseppe Conte, who returned to Rome after his resignation last week.

    And europhile President Mattarella gave his blessing to all the decisions taken by Mr Salvini and Mr Di Maio, as the man he regarded as the main problem to the formation of the new executive, anti-euro economist Paolo Savona, has been moved from the Economy Ministry to the European Affairs one. 

    read more.


June 1, 2018 Posted by | GeoPolitics | , , , , , , | Leave a comment

Jim Willie: Demise of the Dollar

  • ROGUE MONEY Streamed live on May 30, 2018
    Dr. Jim Willie returns to deliver an excellent assessment of geopolitical events unfolding around the globe that are leading to further US isolation and the inevitable demise of the US dollar. A must listen to interview. To learn about about Jim’s work with the Hat Trick Letter please visit:
    May 31st:  topics covered include the growing US isolation from failed foreign policy, the defiant disobedient reaction by European Union with respect to Russian sanctions and renewed Iran sanctions, the powerful effects to come from the Shanghai Gold-Oil-RMB (GOR) futures contracts for the lost USDollar global monopoly, the growing RMB-based oil contract volume which will surpass the Brent volume, the imminent Saudi oil sales to China in RMB terms, the upcoming launch of the Gold Trade Note atop the GOR contracts, the skein of non-USD platforms to undermine the King Dollar Court with its financial terror, the ARAMCO deal for potential control by China & Russia of Saudi oil production, the actual background of nefarious devious corrupt Jim Rickards, the BRICS Gold Trading Center with likely Turkish role from 1000 years of gold market experience, the dual risk of Deutsche Bank failure combined with the fallout effect of Italian banking system as a key trigger for global breakdown


June 1, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Willie: Decline of the Dollar in Global Trade — The Petro-Gold-Yuan Contract

Click on image to download MP3 interview.

  • Jim Willie: Decline of the Dollar in Global Trade — The Petro-Gold-Yuan Contract
    by Turd Ferguson,
    It’s another three-day US market holiday weekend so The Golden Jackass, Jim Willie, stopped by on Friday to discuss the present situation and look forward to what promises to be a volatile and unpredictable summer.

    The primary topic that I asked Jim to address was the US dollar. However and as you might imagine, this took us down several different paths and it led to an interesting discussion. Among the topics covered:

    * the declining use of the US$ in global trade
    * the foundations being laid for a dollar alternative system
    * Turkish gold repatriation
    * DeutscheBank
    * the Italian Banks and the EU banking sector
    and quite a bit more

    These podcasts always prompt plenty of fresh thought and conversation so I look forward to seeing your feedback in the comments section. Thanks again to Jim for his willingness to share his insights with TFMR on such a regular basis.


May 27, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | 1 Comment

US Has Largest Debt in World History, Dollar to Lose Status as No.1 Currency – Investor Jim Rogers

  • RT Published on May 24, 2018
    The US dollar is becoming less appealing for investors as American debt continues to soar and the greenback is printed to cover it, investor Jim Rogers said at the St. Petersburg International Economic Forum (SPIEF).


May 25, 2018 Posted by | Economics | , , , , , | Leave a comment

Italy’s Financial Collapse Sparks Fear In Europe! Massive DEBT CONTAGION Could Crash System!

May 24, 2018 Posted by | Economics | , , , , , , | 1 Comment

Emerging Markets MELTDOWN as Stocks, Bonds, Currencies Fall! Markets In PANIC MODE?!

May 22, 2018 Posted by | Economics | , , , , , , , | Leave a comment

Get Ready A New Currency Is Coming?

  • X22Report Published on May 17, 2018
    People of other countries are using cryptocurrency to get their funds out of the country. Iranian people are doing this right now, people of Argentina and Venezuela have done this. Steve Wozniak says that cryptocurrency (blockchain) will achieve its full potential in 10 years. The dollar is dying and a new currency is being ushered in. Jobless claims hit an all time low, last time we saw this happen we entered a recession. The Philly Fed just surged, the last time this happened we entered a recession in 8 months.


May 18, 2018 Posted by | Economics | , , , , , | Leave a comment

EU to Switch From Dollar to Euro in Payments for Iranian Oil Supplies – Source

  • EU to Switch From Dollar to Euro in Payments for Iranian Oil Supplies – Source
    MOSCOW (Sputnik) – The European Union is planning to switch from US dollars to euros when paying for the oil supplies from Iran, a diplomatic source told Sputnik.

    On Tuesday, EU foreign policy chief Federica Mogherini said that after talks with the foreign ministers of the United Kingdom, France, Germany, and Iran in Brussels that the sides had agreed to work out practical solutions in response to the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA), known as the Iran nuclear deal, within the next few weeks. In particular, the European Union and Iran would maintain and deepen economic ties, including in the area of oil and gas supplies.

    On May 8, US President Donald Trump announced his decision to withdraw the United States from the Joint Comprehensive Plan of Action, also known as the Iran nuclear deal. He also vowed to reinstate the sanctions against Iran that were lifted as a result of the agreement.

    The foreign ministers of Germany, the United Kingdom and France have issued a joint statement saying their countries will stay in the JCPOA even if the United States pulls out of it.

    In 2015, Iran, China, France, Germany, Russia, United Kingdom, United States, and the European Union created the JCPOA, under which international sanctions on Iran would gradually be lifted in exchange for Tehran maintaining the peaceful nature of its nuclear program.


May 18, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Use Logic, The Deal, We Are At The End Of The Economic Cycle: Charles Hugh Smith

May 15, 2018 Posted by | Economics | , , , , , , , , , , , , | Leave a comment