Socio-Economics History Blog

Socio-Economics & History Commentary

Gordon T. Long: The Worldwide War On Cash

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July 24, 2015 Posted by | Economics, EndTimes, Social Trends | , , , , , , , , , , , , , , | Leave a comment

‘V’ The Guerrilla Economist on Greece, China, Petrodollar Demise And More …

  • Published on Jul 23, 2015
    As events move fast in 2015 and the collapse accelerating towards a climax later this decade, V: The Guerrilla Economist joins me to discuss the implications of fast developing events in Greece, Europe, China, and the US… 

    “Banking was conceived in iniquity and born in sin”. – Josiah Stamp
    V Radio show:


July 24, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Worldwide Economic Collapse Accelerating – At a Frightening Pace


  • Worldwide Economic Collapse Accelerating – At a Frightening Pace
    by Andrew Hoffman,  
    … OK, back to “business” – which sadly, involves the daily description of a global economy dying of fiat cancer; per last weekend’s Audioblog, has fostered an unprecedented environment of lies, propaganda, and stupidity. Frankly, I considered writing an entire article devoted to the universally moronic “analyses” of Sunday night’s “paper gold massacre“; as incredibly, after 15 years of relentless, blatantly obvious gold manipulation, nearly the entire “financial community” – from “experts” to “gurus” to pure charlatans, appear to actually be getting dumber. Sure, a handful of us understand what’s going on; but ominously, not only are the “99%” clueless, but much of the “Precious Metals community” as well. Just perusing Kitco’s “market nuggets” last night, it couldn’t be clearer how little people understand of the manipulation of not just gold, butall financial markets – particularly, so-called “experts” relied upon to manage money. Nor, for that matter, relationships as simple as (manipulated) Precious Metals relative to (manipulated) currencies, commodities, stocks, and bonds. Which is why identifying the handful of “good, smart people” – i.e., those who not only know what they speak of, but have your best interests at heart – is the most valuable “financial decision” you can make. Unquestionably, the Miles Franklin Blog is one of the few information oases in the desert – and if you ever want to know our views of others “expertise” on such matters, just ask!

    Anyhow, before I get to the horrific economic implosion that is the subject of today’s article, I want to highlight an aspect of said Precious Metals manipulation; which, for anyone with common sense, proves what we have been saying all along. Which is, a graphic depiction of how blatant the Cartel has become. Recall, inyesterday’s biggest supply reaction in commodity history,” I clinically described May 2011′s “Sunday Night Paper Silver Massacre“; which clearly, was the manipulative “blueprint” for this Sunday’s paper gold attack. In it, I described how on May 2nd, 2011, the “other” metal – in that case, gold – recouped all its post “bin Laden killed” losses by the 12:00 PM “cap of last resort” time on Monday; prompting a violent attack in the trading day’s final four hours, despite not a shred of incremental news or material outside market movements.

    read more.


July 24, 2015 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

“No Longer Confined To The Lunatic Fringe”: SocGen Admits Markets Are Completely Manipulated


  • “No Longer Confined To The Lunatic Fringe”: SocGen Admits Markets Are Completely Manipulated
    by Tyler Durden,  
    Perhaps the most interesting thing about China’s “unprecedented” plunge protection efforts – which, as we outlined on Wednesday, have succeeded in making China Securities Finance Corp. a top-10 shareholder in at least eight firms – is that in some ways, they aren’t “unprecedented” at all. That is, while some of what we’ve seen out of Beijing over the past month – notably the sweeping trading halts and the Politburo agitprop campaign aimed at “malicious” foreign short sellers – was more overt than what we might expect to see in more “developed’ markets, there’s certainly nothing terribly unusual about a central bank propping up equities.

    Considering the above, one is certainly left to believe that the term “market” may have lost all meaning in the seven years since the crisis. Here with a rather shockingly honest lament on manipulated markets, the disappearance of Benjamin Graham’s “voting machine”, and perhaps most importantly, a vindication of the tinfoil hat fringe blogs, is SocGen.
    *  *  *
    Via SocGen
    No longer a voting machine
    If in the short run, to paraphrase Benjamin Graham, equities are a voting machine, then it seems many of these votes are being coerced by interventionists. China is not alone in trying to influence equity prices, central bankers the world over have become obsessed with asset prices, to the extent that the notion of central banks making outright purchases of equities is no longer confined to the lunatic fringe. Of course none of these institutions are remotely interested in ‘weighing up’ the long-term returns. If they were, given the absence of attractive valuations and actual cash flow growth, they might be a little more circumspect in their cheerleading.

    Corporate executives, who are rewarded for achieving EPS and share price targets, typically in the form of stock options, are also experts in the art of creating a short-term positive market impression.

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July 24, 2015 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment


  • Published on Jul 23, 2015
    Harley Schlanger from LaRouche PAC and Helga Zepp-Larouche, Founder and President of The Schiller Institute, join us for an insider’s look at the Bankster domination and enslavement of Greece and Europe. Zepp-Larouche warns that a collapse of the western banking system would cause “a plunge into chaos.”

    “If Greece would default either in a chaotic way or by Grexit, then all of theses derivatives would go into a negative deleveraging… this is uncharted waters. This could lead to a blowout of the entire transatlantic system.”

    Ms. LaRouche explains that the only remedy for the out-of-control fascism of the international bankers who have enslaved Greece and much of the Euro-zone, and who have their sights set on the United States, is the immediate re-implementation of Glass-Steagall. Glass-Steagall is the road back to tying down Wall Street and the international banking elite to the rule of law.

    Zepp-Larouche also warns that due to the unbridled aggression of Washington and NATO in Ukraine that “Mankind has never been in more mortal danger than right this minute.” 

    Please join us for this in-depth conversation about the very future of humanity and the war against the Banksters.

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July 24, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Protesters Throw Petrol Bombs as Greek Parliament Votes on Bailout Reforms

  • Published on Jul 22, 2015
    An anti-austerity protest held outside the Greek Parliament in Athens ahead of the vote on the implementation of further austerity measures has resulted in protesters throwing petrol bombs at riot police.


July 23, 2015 Posted by | Economics, Social Trends | , , , , , , | Leave a comment

The Economic Data Points To A Major Collapse Headed Our Way

  • Published on Jul 22, 2015 
    Syriza party rebels against Tspiras. He is looking to completely overhaul the government. Russia is now saying that Greece never asked for 10 billion dollars to back the Drachma. Debt in Europe hits an all time new high. Catepillar has now 31 months of negative sales. Retail Federation lowers expectations for the rest of the year. 57% of Americans feel the economy is getting worse. The economic data points to a major economic collapse, which is headed our way. Existing homes sales increase but mortgage applications decrease, something is wrong. Gold is slammed down and China and Russia accumulate even more gold. Chattanooga shooter was on SSRI’s, the common thread of all other shootings.


July 23, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , | Leave a comment

Forget Recession: According To Caterpillar There Is A Full-Blown Global Depression


  • Forget Recession: According To Caterpillar There Is A Full-Blown Global Depression
    by Tyler Durden,
    One wouldn’t know it by looking at CAT stock, which has gone very much nowhere in the past 5 years thanks to just one thing – an exponential increase in the company’s share buybacks… 

    … but the company’s publicly disclosed monthly retail sales have just one message for anyone who follows them: forget recession, there is a global depression going on.

    And it is not just in China as many would like to scapegoat: in June, in addition to a -19% drop in Asia Pacific (following a 30% Y/Y plunge a year ago, which in turn followed a 21% drop in 2013), US retail sales posted their first Y/Y decline since February, dropping by 5%.

    But the real depression is in Latin America, where CAT retail sales plummeted by a whopping 50%: the most in reported history, and follow an 18% drop from a year earlier.

    Summarizing it all, after an increasingly shallower series of dead CAT bounces in the past year, first thanks to Latin America, and then the US, global retail sales just dropped by 14% – marching the biggest Y/Y decline since the financial crisis.

    And the cherry on top: there has now been an unprecedented 31 consecutive months of CAT retail sales declines. This compares to “only” 19 during the near systemic collapse in 2008. 

    read more.


July 23, 2015 Posted by | Economics | , , | Leave a comment

Greece End Game & China Dumps Half Trillion in Treasuries

  • Published on Jul 22, 2015
    The Greek drama that has been staged over the past several years has been done with the end goal of setting up a European government. French President Francois Hollande called on Sunday for the creation of a euro zone government and for citizens to renew their faith in the European project, which has been weakened by the Greek crisis. Reviving an idea originally put forward by former European Commission chief Jacques Delors, Hollande proposed “a government of the euro zone (with) a specific budget as well as a parliament to ensure its democratic control”.… 

    Meanwhile China is busy dumping treasuries by the hundreds of billions.… 


July 23, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Leave a comment

Wall Street Prepares To Reap Billions From Another Main Street Wipe Out


  • Wall Street Prepares To Reap Billions From Another Main Street Wipe Out
    by Tyler Durden,  
    On Monday evening, we noted that market participants are reducing the size of their trades and turning to derivatives in order to avoid the perils associated with what are increasingly illiquid markets. 

    While we’ve been pounding the table on bond market liquidity for years, the rest of the world (operating on the standard 2-3 year time lag) has just begun to wake up to how thin markets have become. Now, pundits, analysts, billionaire bankers, and incorrigible corporate raiders alike are shouting from the rooftops about the pitfalls of illiquidity. The secondary market for corporate credit has received the lion’s share of the attention (for reasons we outlined yesterday) and as Carl Icahn was at pains to explain to Larry Fink last week, ETFs are a large part of the problem. 

    The story is simple. Shrinking dealer inventories (the result of a post-crisis regulatory regime wherein the term “prop trader” is taboo) have made it harder to transact in size without having an outsized effect on prices for corporate bonds. Meanwhile, artificially suppressed borrowing costs and the attendant hunt for yield have led to record corporate issuance and voracious investor demand. In short, the primary market is booming while the secondary market has become a veritable no man’s land. If you need an analogy, try this: the crowded theatre is getting larger and more crowded while the exit keeps getting smaller.

    The proliferation of ETFs has made it easier for the retail crowd to chase yield in corners of the bond market where they might not have dared to venture before, and this has only served to create still more demand for things like high yield credit. 

    Now, with the US staring down a rate hike cycle, and with some corners of the HY market (see HY energy for instance) facing a number of insurmountable headwinds going forward, the fear is that the retail crowd will all head for the exits at once, leaving fund managers with a very nondiversifiable, unidirectional flow which will force them to sell the underlying assets into illiquid markets. Due to a generalized lack of market depth, that selling pressure has the potential to trigger a rout. Of course a sharp decline in prices would send still more panicked retail investors to the exits necessitating even more asset sales by fund managers and so on, and so forth.

    read more.
Financial rape of the sheeple!

Financial rape of the sheeple!




July 23, 2015 Posted by | Economics, Social Trends | , , , , , , , , , | Leave a comment

Yanis Varoufakis: Europe’s Vindictive Privatization Plan for Greece

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  • Europe’s Vindictive Privatization Plan for Greece
    by ,  
    Yanis Varoufakis, a former finance minister of Greece, is Professor of Economics at the University of Athens.

    ATHENS – On July 12, the summit of eurozone leaders dictated its terms of surrender to Greek Prime Minister Alexis Tsipras, who, terrified by the alternatives, accepted all of them. One of those terms concerned the disposition of Greece’s remaining public assets.

    Eurozone leaders demanded that Greek public assets be transferred to a Treuhand-like fund – a fire-sale vehicle similar to the one used after the fall of the Berlin Wall to privatize quickly, at great financial loss, and with devastating effects on employment all of the vanishing East German state’s public property.

    This Greek Treuhand would be based in – wait for it – Luxembourg, and would be run by an outfit overseen by Germany’s finance minister, Wolfgang Schäuble, the author of the scheme. It would complete the fire sales within three years. But, whereas the work of the original Treuhand was accompanied by massive West German investment in infrastructure and large-scale social transfers to the East German population, the people of Greece would receive no corresponding benefit of any sort.

    Euclid Tsakalotos, who succeeded me as Greece’s finance minister two weeks ago, did his best to ameliorate the worst aspects of the Greek Treuhand plan. He managed to have the fund domiciled in Athens, and he extracted from Greece’s creditors (the so-called troika of the European Commission, the European Central Bank, and the International Monetary Fund) the important concession that the sales could extend to 30 years, rather than a mere three. This was crucial, for it will permit the Greek state to hold undervalued assets until their price recovers from the current recession-induced lows.

    Alas, the Greek Treuhand remains an abomination, and it should be a stigma on Europe’s conscience. Worse, it is a wasted opportunity.

    The plan is politically toxic, because the fund, though domiciled in Greece, will effectively be managed by the troika. It is also financially noxious, because the proceeds will go toward servicing what even the IMF now admits is an unpayable debt. And it fails economically, because it wastes a wonderful opportunity to create homegrown investments to help counter the recessionary impact of the punitive fiscal consolidation that is also part of the July 12 summit’s “terms.”

    It did not have to be this way. On June 19, I communicated to the German government and to the troika an alternative proposal, as part of a document entitled “Ending the Greek Crisis”:

    read more.


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July 23, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment

Proof Your Politicians are For Sale – Infowars Nightly News

  • Published on Jul 20, 2015
    On this Monday, July 20th David Knight breaks down how your politicians are being bought and sold, then, the government’s latest attack on the 2nd amendment, and Wesley Clark advocates interning those citizens that don’t like America’s policies, then Lee Ann McAdoo interviews Dave Krieger about the latest developments with bankster corruption and finally David Knight and Rob Dew break down a fake video claiming to be a fire-fight between militias and troops involved in Operation Jade Helm.

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July 22, 2015 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , | Leave a comment

It’s Starting To Feel Like 2008 All Over Again, The Year Of The Collapse

  • Published on Jul 21, 2015
    Check Out The X22 Report Spotlight YouTube Channel –… 

    Get economic collapse news throughout the day visit 

    Report date: 7.21.2015
    Greek people dealing with a 23% tax, businesses and people suffering. Greek bankers want people to return the money and trust the bankers. Greek GDP lowered again. Tspiras wanted Putin to help and asked for 10 billion to back the Drachma. 1 in 5 US children live in poverty. Corporate earnings missed expectations and revenue is falling.FED instructs banks to hold extra capital. Germany pushes cashless society. Netherlands will release MH17 report on Aug 10. Ukraine right sector pushing another Maidan revolution to remove Poroshenko. Syria PM says US airstrikes are not helping the fight against the IS.


July 22, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Greek Prime Minister Asked Putin For $10 Billion To “Print Drachmas”, Greek Media Reports


  • Greek Prime Minister Asked Putin For $10 Billion To “Print Drachmas”, Greek Media Reports
    by Tyler Durden,  
    Back in January, when we reported what the very first official act of open European defiance by the then-brand new Greek prime minister Tsipras was (as a reminder it was his visit of a local rifle range where Nazis executed 200 Greeks on May 1, 1944) we noted that this was the start of a clear Greek pivot away from Europe and toward Russia.
    But most importantly, even back then we explicitly said that in order for Greece to preserve its leverage (something it found out the hard way it did not have 6 months later), it would need a Plan B, one that involves an alternative source of funds, i.e., Russia and/or China, which could be the source of the much needed interim cash Greece needs as it prints its own currency and prepares for life outside the European prison.
    As it turns out, none of this was a joke, and, if Greek newspaper “To Vima” is to be trusted, a “Plan B” involving an emergency $10 billion loan from Vladimir Putin which would be used to fund a new Greek currency, is precisely what Greece had been contemplating!

    According to Greek Reporter, Greek Prime Minister Alexis Tsipras has asked Russian President Vladimir Putin for 10 billion dollars in order to print drachmas.

    In other words, if true, then Greece did just as we said it should: approach Russia and the BRICs with a request for funding to be able to exit Europe’s gravitational pull…  
    But the biggest stunner: it was Putin who declined the offer on the night of the referendum.

    The July 5 referendum was a test for Tsipras to see what the Greek people were thinking about Europe and the Eurozone.However, on the night of the referendum, word came from Russia that Putin did not want to support Greece’s return to the drachma. That was confirmed the days that followed. After that, Tsipras had no choice left but to “surrender” to German Chancellor Angela Merkel and sign the third bailout package.

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July 22, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | Leave a comment

“Something Revolutionary Is In The Air”: Grexit By “Insurrection” Is The “Most Probable” Outcome


  • “Something Revolutionary Is In The Air”: Grexit By “Insurrection” Is The “Most Probable” Outcome
    by Tyler Durden,  
    A week ago, we said the following about the situation faced by Greek PM Alexis Tsipras when he and his new finance minister arrived in Brussels for the final round of bailout negotiations earlier this month: 

    …the entire world looked on in horror as Alexis Tsipras – who just days earlier secured a crucial referendum victory which by all accounts empowered him to ride into Brussels a conquering hero – was eviscerated by German FinMin Wolfgang Schaeuble and several like-minded EU finance ministers who smelled blood after Greece submitted a proposal that betrayed the Greek PM’s lack of conviction.

    In short, Tsipras made a fatal error. In an act of alarming defiance, he boldly called for a referendum on creditors’ proposals, campaigned for a “no” vote, and then, once 61% of the Greek populace gave their leader a mandate to reject more austerity, he proceeded to resubmit the very same proposal Greeks had just voted against. That told EU officials that Tsipras had no intention of leveraging the referendum outcome and from there, the “mental waterboarding” was on.

    Now, Greece is stuck with a deal that promises more of the same austerity measures that have so far served only to prolong an intractable recession and indeed, without some manner of debt relief or re-profiling, the new program has no chance of success. 

    Given all of this, it isn’t surprising that economists are once again beginning to talk about Grexit, and indeed, who can blame them? It’s difficult to take seriously the idea that the new “deal” has taken a Greek exit off the table when German FinMin Wolfgang Schaeuble still claims that a Greek exit from the EMU might be the country’s best chance at a “classic” haircut and economic recovery. Here’s Bloomberg with more on why Grexit is “back on the agenda”:

    Don’t pack away the currency presses just yet, Greece’s euro exit may be back on the table next year.

    There’s still a danger that Greece will be forced out of the euro region by the end of 2016, according to 71 percent of respondents in a Bloomberg survey of 34 economists.
    Seventy percent said they reckon Greece should be safe for the rest of 2015, though almost half said they thought the 86 billion-euro ($93 billion) bailout package Prime Minister Alexis Tsipras is targeting will prove to be too small.

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July 22, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | 1 Comment


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