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Socio-Economics & History Commentary

‘Titanic’ Global Economy May “Collapse” Warn HSBC – Gold Is Lifeboat


  • ‘Titanic’ Global Economy May “Collapse” Warn HSBC – Gold Is Lifeboat
    by Mark O’Byrne,
    -“The world economy is like an ocean liner without lifeboats …” – HSBC
    – Four areas of high risk identified by HSBC
    – Risk of stock market crash
    – Pension funds and insurers may not meet obligations
    – Chinese recession may drag U.S. into recession or depression
    – Premature rate rise would expose very fragile global economy
    – “There aren’t enough lifeboats to go round”
    – Gold vital lifeboat when global ship strikes iceberg  

    The chief economist of the world’s third largest bank, HSBC’s Stephen King, has compared the global economy to the Titanic. In a note to clients on Wednesday he wrote We may not know what will cause the next downswing but, at this stage, we can categorically state that, in the event we hit an iceberg, there aren’t enough lifeboats to go round.

    “The world economy is like an ocean liner without lifeboats.” As we have been warning in recent months, when another recession arrives, governments do not have the ability or the reserves to prop up the economy like they did in 2008.

    Global debt has soared by 40 percent since the Great Recession. We now have a staggering $200 trillion of debt globally, or almost three times the size of the global economy. It would be a “truly titanic struggle” for policymakers to right the economy, King said.

    He believes that we are now nearer to the next global recession than we are to the last one which ended six years ago. In that time, however, the world has amassed mountains of new unpayable debt – expanding 25% in the last six years – and the U.S. economy has been sluggish despite an unprecedented wave of money printing which was intended to boost the economy. Indeed, post recession growth has never been so anaemic in recent history.

    read more.


May 25, 2015 Posted by | Economics | , , , , , , , , , | Leave a comment

James Turk: Silver in Backwardation – No One Wants the Counter-Party Risk!

  • James Turk: Silver in Backwardation – No One Wants the Counter-Party Risk!
    James Turk joins us this week for a MUST LISTEN show discussing:

    * Silver Has Been in Backwardation Since January– N
    o One Wants the Counter-Party Risk!
    * The writing is on the wall for Greece- Bail-in appears inevitable!
    * When Greece is bailed-in, Will Contagion Rip Across the Banking Systems of France, Italy and Spain?
    * Turk Explains Why Fiat Currency is Coming to a Conclusion
    * Governments Will Come Back to Gold Either Willingly, or Kicking and Screaming!
    * When the Big Black Swan hits, Will Americans Finally Wake Up to the Encroachment of Fascism?
    * Why it is Prudent to Protect Your Wealth With THINGS…Not Promises! 

    Turk Explains Why Buying Gold Today at $1200 is Better Than Buying Gold at $35 in 1971! 
    The SD Weekly Metals & Markets With The Doc, Eric Dubin, & James Turk.


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

Global Fraud Propping up System, Middle East Fighting, No Economic Recovery …

  • Published on May 21, 2015
    UBS is a whistleblower in a new case coming up, and this time, it involves some of the same big banks that just plead guilty to Forex and LIBOR market rigging. Now, new allegations of price rigging in the precious metals market looks like they will be coming to some more big banks. That’s right, gold and silver prices are being rigged and the Justice Department is probably going to fine more bankers. Lets’ see, interest rates have been rigged, currency markets have been rigged and precious metals markets are being rigged. Are you getting the picture of how dire it must be that all markets are rigged in some way? This past week Rob Kirby said, “The markets are a crime scene.” This is not an exaggeration.

    It looks like a crisis has been averted off the coast of Yemen. Iran has agreed to UN inspections of a cargo ship carrying humanitarian aid to Yemen. Iraq is not that lucky. Ramadi has fallen to ISIS. So has the ancient city of Palmyra in Syria. With these defeats, ISIS gets new equipment and tanks as they are abandoned by retreating Iraq forces. 

    In the latest “there is no recovery” news, look no further than the Federal Reserve. In last month’s Fed meeting, policymakers said they would not raise interest rates in June. According to USA Today it is because of “the economy’s recent sluggish performance.” There is NO RECOVERY and the Fed knows it.


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

Dr. Jim Willie: Wreckage of the Global Bond Markets, China’s Physical Gold Accumulation …

Click on image to download MP3 interview.

Click on image to download MP3 interview.

  • Dr. Jim Willie: Wreckage of the Global Bond Markets, China’s Physical Gold Accumulation …
    by Turd Ferguson,  
    Our holiday tradition continues. Please be sure to note that this extremely valuable interview is, of course, a free public thread. Over the course of this hour-long discussion, The Golden Jackass addresses two main points:

    * The wreckage of the global bond markets and the damage wrought by the never-ending quantitative easing of the global central banks.

    * China’s intentions behind their massive buildup of physical gold. You’ll find Jim’s rationale to be more comprehensive than that recently put forth by Jim Rickards. His reasoning is laid out in a straight-forward manner and would seem to be the best, most reasoned explanation yet of China’s motives and goals.

    For those Vault subscribers that have already listened to Part One of this interview, please fast forward to the 25:00 mark to continue with Part Two. Have a great weekend and enjoy your fresh Jackass!


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

The Economic Indicators Are Now Showing Signs Of A Collapse

  • Published on May 21, 2015
    Existing homes sales decline once again. Manufacturing implodes along with the Baltic Dry Index. IMF upgrade outlook for Russia. China’s gold standard would push gold up by 50 times. US people don’t believe the government can keep their private information private. US wants to permanently put the THAAD missile system in South Korea. The IS now controls half of Syria. The U.S. is getting ready to make a move to take out Assad. US using propaganda to have Assad removed. US loses control over the middle east get ready for an event to push the Authorization for War through congress.


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

Jim Willie: Gold & Silver Backed Currencies, Dollar Collapse …

    May 21st: covers the Gold Trade structures (central banks, corporate, retail), the Intl Monetary Fund with Chinese RMB currency acceptance and inclusion, the introduction of Gold & Silver backed currencies within the BRICS Alliance framework, some background of the IMF control elements with loan grants, the construction of the new Gold platforms that replace those USD-based, the impossible coexistence between paper money with Gold money, the credibility of conspiracy theories (a few cited), the Greek situation with open door to Russia & China for asset grabs, the building of new banking infrastructure, official surveillance threat to liberty and currency, goals of fair trade with legitimate banking, the great risk to the Average American with life savings, the great risk for United States falling into Third World, the many sources for hope personally, all through the discussion to bring in the angles with crypto-currency …


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

Bo Polny: A Gold & Silver Spike Before June 21, 2015


  • Bo Polny: A Gold & Silver Spike Before June 21, 2015
    Are Gold and Silver set to SPIKE before summer? A 15-minute must listen for all Gold and Silver investors.
    The slide from March 19 & 24, 2015 states three points: 

    1. Gold
    & Silver Bull Market Breakouts starting now (end of March 2015) and before summer!

    2. US Dollar top arrived March 16, 2015, continued weakness into end of April with a ‘breathtaking’ CRASH before summer!
    3. Devastating World Stock Market CRASH starting in 2015 & ending in 2016!

    read more.


May 22, 2015 Posted by | Economics | , , , , , , , , | Leave a comment

U.S. Control Over The Middle East Is Fading Which Will Push War Forward

  • Published on May 21, 2015
    Greece is going to tax deposits and withdrawals and the money collected will not go to the creditors. Greece might implement capital controls if no deals are reached. Eurozone economy has not improved since 2008. Caterpillar signal we are in a recession. BofA is now encouraging people to hold gold and cash. TPP has now been read and it does not benefit the people.Europe’s watchdog has concerns over the TPP. Ukraine is pushing a bill where they do not have to pay off creditors, Russia holds 3 billion of Ukraine’s bonds. US training of the Ukraine arm forces will continue into 2016. No more red lines for Syria, US pushing chemical weapons probe to UN, get ready for an offensive in Syria.


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

Obama Unleashing ‘Racial Agitators’ On Crime-Filled Cities, $163 Million to Back Them?

  • Published on May 20, 2015
    The Department of Justice announced it will send millions of dollars to various community-activist groups to combat urban crime and reduce tensions between racial minorities and the police. But critics believe such policies will only fuel further unrest by funding many of the so-called “community organizers” responsible for creating anti-police sentiment in American cities.

    To spread awareness of the new campaign, U.S. Attorney General Loretta Lynch toured Cincinnati Tuesday and identified the city as a model for how police departments around the country should operate. 

    Until recently, Cincinnati operated under a “Collaborative Agreement” after a 2001 police shooting. The agreement allowed various community organizations, including the Cincinnati Black United Front and the American Civil Liberties Union, to work directly with the police through a court-brokered agreement.

    New guidelines on how officers were to interact with the public, especially blacks, were often imposed over the objections of police themselves.

    President Obama, himself, toured the crime-plagued city of Camden, New Jersey, Monday to promote the new report from his “21st Century Policing Task Force,” designed to increase public trust in the police.

    The report calls for “mitigating implicit bias” as a “part of training at all levels of a law enforcement organization to increase awareness and ensure respectful encounters both inside the organization and with communities.”

    It particularly condemned “the use of disrespectful language and the implicit biases that lead offices to rely upon race” in the context of the law enforcement policy known as “stop and frisk.”

    The president also restricted the availability of military hardware previously provided to local law enforcement. Critics, including Cheryl Chumley, author of “Police State USA,” charge such actions are less about “saving innocent lives” and more about “creating a social justice movement that’s likely to clamp police from doing their jobs even while it federalizes the nation’s forces.”

    The Justice Department also announced $163 million in grants to be distributed for the purpose of “building trust with the community.” As part of its effort to execute the recommendations of the president’s task force, the Justice Department is looking for 10 localities to participate in a “collaborative reform” process to serve as a model for the rest of the country, emphasizing “procedural justice” and “implicit bias training.”

    ‘Racial agitators’
    A list of grants awarded by the Justice Department in 2013 indicate federal funding has been and will continue to be directed toward activist groups described by critics as “racial agitators.”

    For example, “Community Policing Development Awards” were given in 2013 to programs including “Building Trust With Communities of Color” from the Vera Institute of Justice, the “Race and Social Justice Initiative” at the Portland Police Department and “Racial Reconciliation, Truth-Telling, and Police Legitimacy” at John Jay College.

    Matthew Vadum, an expert in left-wing activist groups and the author of “Subversion, Inc.,” warns such federal funding invariably finds its way into the hands of progressive activists who personally profit from increased community tensions.

    “President Obama is no stranger to irony, or hypocrisy for that matter,” Vadum said in an interview with WND. “After attacking police as stupid, racist, vicious and thuggish almost non-stop throughout his presidency, now he suddenly cares about police officers and the communities they serve. Now he wants to throw millions of taxpayer dollars at ACORN-like groups and professional left-wing agitators whose calling in life is to generate civil unrest,” he said.

    “This means that people like the president’s point man on race relations, riot organizer Al Sharpton, will get his hands on lots of government money. This money won’t actually help anyone except for the often-violent Saul Alinsky-inspired community organizers who have been living high off the hog ever since one of their own took up residence in the White House.”

    ‘Wrong solutions to a problem he created’
    Peterson told WND: “Barack Obama and his cronies helped create this problem and now they’re offering all the wrong solutions. The $163 million will not go to fix inner city issues; the bulk of the money will be used to pay off Barack Obama’s political cronies.

    Read more at…

Click on image for article.


May 21, 2015 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , | Leave a comment

Greece Says It Cannot Repay an IMF Loan Due Early Next Month

  • Published on May 20, 2015
    The European Commissioner for Economic and Financial Affairs has urged Athens to speed up its reforms program, warning that Europe is running out of time. Pierre Moscovici has stressed Greece should stay within the euro bloc, adding that there is no other alternative. He, however, added that the reforms program should allow Greece to be more competitive and allow for more social justice within the country. Athens and eurobloc remain at odds over further cuts in public spending and civil servants pensions. Greece needs a deal with international creditors to unblock the remaining batch of loans worth 7-point-2 billion euros. Athens has warned that it will face a default without a bailout deal before June 5. It has also said that it will give priority to the payment of salaries, pensions and the country’s general running costs rather than the International Monetary Fund’s repayment on June 5.


May 21, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , | Leave a comment

The Planet as a Whole: A Race Between the BRICS and the World War Party

WW3 is near?

WW3 is near?

  • The Planet as a Whole: A Race between the BRICS and the World War Party
    The past weeks have seen an extraordinary consolidation of the economic partnership and mutual support among China, India, and Russia—the core of the BRICS impulse of scientific progress and economic growth, which is now reaching many nations. A “brotherhood,” as EIR Founding Editor Lyndon LaRouche recently called it, rather than an alliance of nations, some of which are driving the highest rates of productivity and growth in the world; others of which, desperately need that.

    But the relatively bankrupt trans-Atlantic countries, with very bankrupt banking systems, are driving the world toward war—and not only the spreading, genocidal wars in the Mideast and Northern Africa which Bush and Obama, Blair and Cameron, and their Saudi allies have started.

    This week, the battle was in full view in South Korea, where Indian Prime Minister Modi and U.S. Secretary of State Kerry were visiting at the same time.

    India and Korea formed a strategic partnership; Korea extended $10 billion in credits for Indian infrastructure development, along with a commitment to bring to India, South Korea’s famously successful model for rural development. Modi presented the benefits of his “Make in India” campaign, for Korea.

    Kerry, on the same day, dismayed his Korean hosts by blustering attacks on North Korea—virtual demands for war on the peninsula—and pushed the U.S. ballistic missile defense system Korea does not want, down their throats.

    Kerry’s deputy, Victoria Nuland, spent three days in Ukraine, then that country’s President signed laws which effectively glorify the country’s Nazi collaboration during World War II and outlaw dissent against it; while the Obama Administration again emphasized that heavy weapons for Ukraine to fight Russia were “on the table.”

    And London moved against Macedonia, with anti-government demonstrations led by European diplomats and promising “a war here like in Ukraine.” Macedonia is an important link on China’s “Maritime Silk Road” port-and-rail development corridor, and an opponent of anti-Russia sanctions. The attack against Macedonia is against the BRICS as a whole, which alliance is clearly giving Greece a live option to escape the murderous austerity and economic depression imposed on it by EU agencies.

    The BRICS dynamic must prevail. The current U.S.-NATO policy of destroying the BRICS combination, encircling and confronting both Russia and China, is not only a bankrupt policy; it is leading toward thermonuclear war and potential human extinction.

    read more.


May 21, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Alasdair Macleod: The Coming Panic Into Physical Gold And Silver

  • Alasdair Macleod: The Coming Panic Into Physical Gold And Silver
    Many of us are now predicting another round of QE, quite possibly before the leaves are finished falling off the trees this fall around the country.

    The one thing the Fed really is frightened of is contracting bank credit.  And this idea of collateral liquidation leading to more selling of collateral by the banks to cover loans is sort of self-feeding into nasty collapse if you like in asset prices.

    Now that’s not going to happen because they are going to print money to insure it doesn’t happen.

    We are very very close to that sort of tipping point and I think that people who have 
    an understanding of this are not going to hang around and wait for the Fed to print money. They are going to go quite quickly against the dollar…

    Anybody who doesn’t own physical silver or gold could miss out.  I think there’s a big change coming.

    Submitted by Fund Manager Dave Kranzler, Investment Research Dynamics:

    The strategic reasons for are now about to change in the next six months. Anybody who doesn’t own physical silver or gold could miss out. I think there’s a big change coming on.  – Alasdair Macleod,Shadow of Truth

    The Shadow of Truth interviewed Alasdair Macleod to get his take on the economic reports which show an economic contraction in the U.S., the recent move higher in precious metals prices and his thoughts on what China’s next move is with respect to their obvious hoarding of physical gold.

    read more.


May 21, 2015 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , | Leave a comment

Rob Kirby: Extreme Reduction in Standard of Living Guaranteed. China Gold Could Cause Tsunami of Dollars in US.

  • Rob Kirby: China Gold Could Cause Tsunami of Dollars in US
    by Greg Hunter’s 
    Gold expert Rob Kirby arranges deliveries of the yellow metal to his clients measured by the ton.  Kirby says news that China may disclose it has 30,000 tons of gold will be devastating for the West.  Kirby contends, “We could be fast approaching the moment when the tide is going to turn and go out, and we are going to find out who’s wearing a bathing suit.  I think that time is fast approaching, if it is not here already.”  Kirby also says, “I think the implied message is we are going to show you how much we have, and then you are going to have to show us how much you have. . . . America, very likely doesn’t have, in my view, doesn’t have the gold they claim to have.  They also probably spent a lot of other people’s gold in safe keeping.”

    What would happen to the U.S. dollar if China revealed a vast holding of physical gold?  Kirby contends, “If this would destabilize the dollar enough . . . it could cause a sudden drop in the U.S. dollar, which could signal a tsunami of dollars coming back to America and could set off a very, very ugly, ugly bout of inflation, which could build into a hyperinflation in America.  This would bring social unrest in America.  This is the social unrest the U.S. military and the Pentagon have been saying is inevitable and is coming to America.  This is exactly the kind of backdrop you would expect to have before this would occur.”

    Kirby points out, “The problem is our global capital markets have become criminal cesspools.  Our global capital markets right now are crime scenes.  The regulatory regime installed by the leadership of America to prevent this all from happening has been vacant.  They are derelict, and they are part of the problem.  It starts with the repeal of the Glass Steagall Act back in the late 1990’s.  You got to look back to see the context of where this train left the tracks.  This is not a derailment.  The derailment occurred a long time ago.  Right now, the engine of the train is in the middle of a corn field, and it’s still moving.”

    read more.


May 21, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

The Gloves Come Off: Moody’s Warns Of Greek “Deposit Freeze” As Schauble “Won’t Rule Out Default”

Photograph: Petros Giannakouris/AP

Photograph: Petros Giannakouris/AP

  • The Gloves Come Off: Moody’s Warns Of Greek “Deposit Freeze” As Schauble “Won’t Rule Out Default”
    by Tyler Durden,  
    Ever since Syriza took over the Greek government and has refused, at least until now, to concede to every Troika demand of perpetuating a status quo which it was elected with a mandate to overturn, Europe has done everything in its power to make not only Syriza’s life increasingly difficult and hostile, but has taken every opportunity to turn the Greek population against its rulers, in hopes that a more “moderate”, technocrat government would replace the “radical leftists.” So far it has failed, despite the best attempts by the ECB and the European Commission to sput a terminal bank run.

    The problem for Greece is that the government has run out of cash. Long ago in fact, and as reported earlier, the country has just two weeks of cash left and the next IMF payment will certainly not be made unless the IMF first finds a way to inject some more money into Greece (so the IMF can essentially repay the IMF), which however won’t happen without a deal first being implemented.

    The other problem is that Greece has run out of time to get a deal in order, especially since with every incremental negotiation, the Syriza government repeats it has substantial “red lines” it won’t cross, something the Troika takes as a direct ultimatum. And the ECB, the IMF and the European Commission are not good at handling ultimatums.

    Which is perhaps why the push to force a terminal bank run in Greece took on an added urgency today when first Moody’s and then Schauble, did everything in their power to strongarm Tsipras into agreeing with Troika demands, or else suffer the consequences of a Grexit: one which will have dire consequences for all of Europe, but which Europe is naively ignoring just because the recent launch of the ECB’s QE is making the underlying tension in the economy and financial markets (which no longer exist courtesy of precisely this QE).

    The gloves officially came off just before the market open today when Moody’s released a report titled “Outlook for Greece’s banking system is negative” in which it did the unthinkable: it explicitly said that the worst case for Greece is now an all but certain outcome if the government doesn’t concede to the Troika, or Institutions, or whatever they are called today.

    read more.


May 21, 2015 Posted by | Economics | , , , , , | Leave a comment

We’re in a Financial “Twilight Zone” Says Bank of America

May 20, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment


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