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Socio-Economics & History Commentary

The Impossible Italian Job. The Italian Banking Crisis Would Complete Europe’s “Doom Loop”

Bank_Panic_in_Italy

  • The Impossible Italian Job. The Italian Banking Crisis Would Complete Europe’s “Doom Loop”
    by Don Quijones, Spain & Mexico, editor at WOLF STREET
    Italy’s repeated attempts to stave off a full-blown financial crisis and breathe life back into its moribund banking sector can be summed up in four words: too little, too late.


    In April, it set up a bad bank vehicle called Atlante that was expected to bail out the country’s most troubled lenders as well as allay growing fears of a systemic crisis within the financial sector. With just €5 billion of funds to its name, it did neither.

    Cue Plan B, which saw the EU in June grant permission for Italy to use “government guarantees” to create a “precautionary liquidity support program for their banks worth €150 billion. On the surface it seemed like a lot more money, but in the end it amounted to little more than a PR stunt. The stampede out of Italian banks barely missed a beat [As Fears of “Bank Run” Escalate, Italian Banks Get €150 Billion Bailout of Empty Promises].

    Finally, at the end of July things got seriously serious with the unveiling of Plan C: a third, much larger rescue deal for Italy’s chronically dependent and third largest bank, Monte dei Paschi. The deal involves a consortium of banks, led by JP Morgan, and in a secondary role, Italian investment bank Mediobanca, which will apparently help Monte dei Paschi raise €5 billion in new capital and sell €9.2 billion in bad loans at a deep discount to get them off its books.

    read more.
http://www.independent.co.uk/voices/why-italy-s-economy-is-about-to-collapse-a7091221.html

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

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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://sputniknews.com/europe/20160801/1043841943/italy-economy-crisis-banks.html

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

Negative Interest Rates to Completely DESTROY Global Economy! Here’s Why.

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

Dollar Disaster Looms? China and Russian Currencies Break Away

Well, what do you know? No lack of toilet paper!

Well, what do you know? No lack of toilet paper!

  • Dollar Disaster Looms? China and Russian Currencies Break Away
    by http://www.thedailybell.com/  
    Russia leaves the Dollar based monetary system and adopts a system of Sovereign Currency. The implications are phenomenal! “In 1990 the first priority of Washington and the IMF was to pressure Yeltsin and the Duma to “privatize” the State Bank of Russia, under a Constitutional amendment that mandated the new Central Bank of Russia, like the Federal Reserve or European Central Bank, be a purely monetarist entity whose only mandate is to control inflation and stabilize the Ruble. In effect, money creation in Russia was removed from state sovereignty and tied to the US dollar.”

    2016: “The Stolypin club report advises to increase the investment, pumping up the economy with money from the state budget and by the issue of the Bank of Russia”. Putin decided to follow the Stolypin club advice as the new monetary policy of the country. -Before It’s News

    Money is changing fast and the US dollar is going to crash. Here’s an excerpt from yet another recently published article (translated from the Russian) describing how the ruble may now evolve (here).

    We must nationalize the ruble. What does it mean? It means that we must separate the internal markets from the external ones.

    … Thus, the first step for Russia is secession from the IMF and others similar institutions designed to keep the entire world in bondage. The dollar noose must be cut.

    Now the amount of printed rubles will not be determined by how many dollars we have but by the actual needs of our economy.

    … We have absolutely no need in the central bank in its current form, but we do need a financial regular. Under any regime, it was the Treasury that performed this function. Let it remain the same now regardless of the official name. It may continue to be called the Central Bank. If the essence is changed, there is no need in changing plaques.

    You can also see an article (here) that goes into this issue more deeply and claims that Putin has in mind backing a portion of the ruble with gold as well. (We should note there are claims the  ruble is backed by gold already.)

    The dramatic – historical – Russian currency changes (if these articles are accurate) seem a little difficult to discern in full at this moment, but obviously things are changing fast. And they are changing for China’s “money” as well. In fact, some have speculated China and Russia could launch a joint, gold-backed currency (here, see bottom of article).

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

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

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

The Storm Is Approaching And It Looks Like It’s Going To Hit This Fall

  • Published on Aug 17, 2016
    Aetna blackmails the government with Obamacare to allow the merger with Humana to go forward. In two months Obama will give control of the internet to the UN. UN postpones peace keeping forces in Sudan. Japan continues to provoke China showing Chinese ships sailing in the South China Sea. US wants to place the THAAD missile system on South Korea’s destroyers. Kiev refuses to move forward on the Minsk agreement. Poroshenko wants armed OSCE forces in Donbass and Crimea. Turkey is in talks with Russia to close off the borders with Syria and allow peace keeping forces to monitor. US will not separate the moderate rebels from terrorists. Jeh Johnson will help the states monitor the elections and protect them against election tampering. Obama wants a third term in office by declaring a state of emergency.

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August 22, 2016 Posted by | GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Unraveling of Economy – Signs Have Arrived | Rob Kirby Q&A

  • Published on Aug 20, 2016
    IN THIS INTERVIEW: 

    – Derivatives used for globalist control ►0:50 
    – What is the difference/impact of Open Interest, Commitment of Traders & Precious Metal Futures? ►6:40 
    – What in your opinion are some of the key things to watch for that maybe a sign that things are going to turn over and go belly up? ►11:36 
    – Are there things that you recommend we Canadians should do different in preparation for the US dollar devaluation…for example will our dollar be devalued just like the American? ►13:50 

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

EURO HAS FAILED: Mistrust And Money Wars Sparks Claims Juncker’s EU is Finished

http://www.express.co.uk/news/world/702032/EURO-HAS-FAILED-Mistrust-and-money-wars-sparks-claims-Juncker-s-EU-is-finished

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http://www.b92.net/eng/news/world.php?yyyy=2012&mm=06&dd=20&nav_id=80854

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August 20, 2016 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , | Leave a comment

Derivatives: Unexploded Financial Weapons

  • Derivatives: Unexploded Financial Weapons
    by Dave Kranzler, http://investmentresearchdynamics.com/  
    Central counterparties keep records of trades and help suck risk out of the banking system, but this only works if they themselves are well capitalised and have plans in place to deal with a sudden collapse of one or more of its members and get close to failure. Otherwise, they’re just unexploded nuclear bombs nestling deep in the financial system.   – Business Insider LINK.

    Who are we kidding.  Since the 2008 de facto banking system collapse, the OTC derivatives problem has mushroomed out of control.   The Obama Government heralded in the Dodd Frank legislation, which allegedly made the financial system safer for everyone.  In reality it is nothing more than a fairlytale written with  the goal of allowing the Too Big To Fail banks to cover up their continued derivatives Ponzi scheme.

    Now the BIS has issued yet another warning about the dangers lurking with derivatives. The “central clearing exchanges,” like the Depository Trust Clearing Corporation, are giant derivatives-infested vipers nest which harbors the next – and possibly imminent – financial system collapse.

    This is one of the reasons behind Carl Icahn’s recent candor regarding the U.S. financial system:  “sooner or later there’s going to be a massive problem.”  LINK 

    In today’s episode of the Shadow of Truth,   we discuss the reasons why the BIS is sounding the derivatives alarm bell again and why Carl Icahn has become “Dr. Doom” on the stock market: (top of post)

WarrenBuffet-Financial_Derivatives_r_WMD_n_time_bombs_for_the_economic_system

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August 20, 2016 Posted by | Economics | , , , , , , , , , , , | Leave a comment

The German Question: Spark for The Global Collapse, Deutsche Bank at DANGER Level That Could SMASH Markets – Or a Driver for World Development

http://www.express.co.uk/finance/city/700648/Deutsche-Bank-DANGER-level-SMASH-markets-Brad-Lamensdorf

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  • Emphasis mine:
  • The German Question: Spark for The Global Collapse, — Or a Driver for World Development
    by https://larouchepac.com/  
    If Deutsche Bank is allowed to descend into an uncontrolled collapse, exploding the largest pool of derivatives among the world’s banks, not only will the German economy be destroyed, but all of Europe and the United States with it. And yet, that is what is on the agenda, literally any day. Yet another voice from the financial elite is screaming the alarm today: “Deutsche is in more trouble than people realize,” said Brad Lamensdorf of Ranger Equity Bear in an interview with The Express of London. “Something is very, very broken.”

    “Nothing is stable in the European banking system,” said Lyndon LaRouche in response. “The German economy is on the edge of an explosion. Merkel and Schauble are trying to manage the impossible. They must go. It’s only a question of when the break will occur.”

    There is a means to solve this crisis, but not unless leaders emerge immediately in Germany to restore stability. This requires, first, the recapitalization of Deutsche Bank under a new regime which writes off the worthless derivative bubble and restores commercial banking under Glass Steagall-style regulation. If that is done, now, LaRouche said, then Germany, in cooperation with Putin’s Russia, can avoid a sudden crash and drive a new paradigm of cooperation between the trans-Atlantic nations and the Russia-China partnership which is now leading the world economy forward, despite the Western collapse.

    Leading forces in Germany are trying to improve relations with Russia. Foreign Minister Frank-Walter Steinmeier met with his Russian counterpart, Sergei Lavrov, in Yekaterinburg on August 15, where the two agreed to “encourage contacts between government agencies, between regions in the Russian Federation and the Federal Republic of Germany,” Lavrov stated, adding that “we believe that interest shown by Frank-Walter in working with Russia’s regions deserves all kinds of support.” According to Lavrov, as reported in TASS, the two also discussed bilateral relations in “political, cultural, humanitarian and historical areas.” How long can the insane sanctions regime and NATO war mobilization be tolerated?

    Time is short. Putin has hit Obama’s war plan on two vulnerable flanks: first, in Syria, working under international law with the sovereign government of Syria to militarily defeat the terrorist apparatus on fronts across Syria, exposing Obama as a supporter of the Saudi-controlled al-Qaeda networks to achieve his criminal regime change aggressions; second, Putin has brought Turkey to its senses, ending Obama’s use of that country to funnel arms and terrorists into Syria.

    Obama has responded by deploying the neo-nazi gangs in Ukraine to launch terrorist attacks in Crimea — i.e., in Russian territory — and escalating the war on the Donbas region. Putin announced that the planned meeting of the Normandy group (France, Germany, Russia, and Ukraine) at the upcoming G20 meeting in China, to attempt to salvage the Minsk agreements, was now pointless, with Kiev opting for terror on Russian territory. Hollande, Merkel, and Poroshenko spoke by phone today — without Putin — and called for the Normandy process to continue. Others have proposed that Germany and Russia should proceed on their own to deal with Ukraine, to demand an end to the Obama-backed provocations from Kiev.

    War is on the agenda — a war that would quickly become global and nuclear. While Germany, under new leadership and in tandem with Russia, can prevent the economic collapse and stop the rush to war, it will take the courage of American citizens to stop Obama (and his stooge Hillary Clinton) from subjecting the U.S. to Wall Street’s destruction of the physical economy and taking the world to war. These decisions must be made now — not through a fraudulent election between two enemies of the American System, but now, through Constitutional means, removing Obama for his multiple crimes against the Constitution and against humanity, implementing Glass-Steagall, restoring national banking, and restoring America’s commitment to a fusion-powered future on Earth and in space.

    No “practical” partial measures can succeed.
WW3 is near?

WW3 is near?

https://larouchepac.com/20150115

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https://larouchepac.com/20141224

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https://larouchepac.com/20141222-3

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August 20, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Breaking: Unprecedented Exec. Order Just Signed | Rob Kirby

  • Published on Aug 18, 2016
    IN THIS INTERVIEW: 

    – Executive Order — Providing an Order of Succession within the Department of the Treasury ►0:51(Executive Order link: https://www.whitehouse.gov/the-press-…
    – Don’t trust the media – Trump is actually winning ►11:28 
    – Can the media stop Trump? ►16:18 
    – Can Obama stop Trump? ►18:53 

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August 19, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

If This Is The So Called Recovery, The Financial Collapse Is Going To Be A Disaster

  • Published on Aug 18, 2016
    Major UK banks reduce growth forecast which has nothing to do with the Brexit. Philly fed jumps on hope but all underlying indicators point to a decline. Caterpillar sales continue to decline and its getting much worse. Obamacare is doomed insurers suffer losses of 2 billion or more.

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August 19, 2016 Posted by | Economics | , , , , , , , , , , | Leave a comment

How The Globalists Will Attempt To Control Populations After The Collapse

Luciferian_New_World_Order_Koch_n_Spangler

  • How The Globalists Will Attempt To Control Populations Post-Collapse
    by Brandon Smith, http://www.alt-market.com/  
    There is an interesting disconnect with some people when discussing the concept of global centralization. Naturally, the mind reels in horror at the very idea, because many of us know, deep down at our core, that centralization is the root of tyranny.  We know that when absolute power is granted into the hands of an elite few over the lives of the masses, very bad things happen.  No small group of people has ever shown itself trustworthy, rational, empathic or wise enough to handle such a responsibility.  They ALWAYS screw it up, or, they deliberately take advantage of their extreme position of influence to force a particular ideology on everyone else.

    This leads to resistance, resistance leads to sociopolitical crackdown and then great numbers of people are imprisoned, enslaved or even murdered.  This leads to even more resistance until one of two possible outcomes emerges — chaos and revolution or complete totalitarianism and micro-managed collectivism.

    There is no way around this eventual conflict.  As long as the centralists continue to pursue total power, men and women will gather to fight them and the situation will escalate.  The only conceivable way that this fight could be defused is if the elites stop doing what they do.  If they suddenly become enlightened and realize the error of their ways, then perhaps we could escape the troubles unscathed.  Or, if those same elites all happen to meet an abrupt end and their influence is neutralized, then the world might have a chance to adjust and adapt in a more organic fashion.

    Unfortunately, there are people who refuse to believe that a fight is unavoidable.  They desperately want to believe there is another way, and they will engage in an amazing display of mental gymnastics in order to justify this belief.

    First, I think it is important to note that I have always argued that the globalists will eventually fail in their pursuit.  I find that some folks out there misinterpret my position when I outline the strategies of globalists and they assume I am presenting global centralization as a “sine qua non.”  I do not argue that the elites will win the fight, I only argue that there is no way to avoid the fight.

    read more.

Chester_Ward_One_World_Government_CFR

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!

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August 19, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , | Leave a comment

Japanese Imports, Exports Crash At Worst Rate Since 2009

Japan_Imports_Exports-20160817

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August 18, 2016 Posted by | Economics | , , , , , | Leave a comment

The SHOCKING Graph that Proves Portugal is Gaining on Italy in The Economic ‘DOOM LOOP’

Doom-loop-Exposure_of_National_banking_sectors_to_debt_of_their_Govt

  • The SHOCKING Graph that Proves Portugal is Gaining on Italy in The Economic ‘DOOM LOOP’
    by LANA CLEMENTS, http://www.express.co.uk/  
    PORTUGAL’S banks are catching up with Italy in terms of the so-called doom loop measure of fragility.

    Italian banks have been struggling amid billions of pounds worth of bad loans, but it is also heavily exposed to debt issued by the government. Portugal is rapidly getting itself into a similar position, according to Zerohedge.com. Essentially, weak banks and financially weak governments are dragging each other down in the so-called doom loop.

    Portuguese banks have stocked up on government debt over the past two years at speedy rate. And if they continue at the same pace will be in the same position as Italian firms by 2018, found the site. Portugal’s economy is already heavily weighed down by debt at GDP ratio of 129 per cent.

    Zerohedge.com predicts a 15 percent fall in government bond prices could wipe out a whopping 35 per cent of Italian bank cash and 22per cent of Spanish bank capita. 

    read more.

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August 18, 2016 Posted by | Economics | , , , , , , , | Leave a comment

Willem Middelkoop: IMF’s ‘Substitution Fund’ to Kick-Start SDR as New Global Currency?

  • Willem Middelkoop: IMF’s ‘Substitution Fund’ to Kick-Start SDR as New Global Currency?
    by http://lonestarwhitehouse.blogspot.com/  
    Willem Middelkoop (OMFIF Advisory Board) has published a new article intended as a current update to his book The Big Reset . This is an excellent and well documented piece that traces the history of various proposals to broaden the use of the SDR and also studies that have looked at anchoring the SDR to gold in some way in the past. 

    Below are a couple of brief excerpts from the paper and then a few added comments.
    ——————————————————————————————-

    The Big Reset (2013) fully explains the need for a major reform of the world’s financial system. At that time of publication, most people still had no clue what form the unfolding financial endgame would take. A few years further on, and as interest rates have reached a level not seen in 500 years, many are now starting to agree major monetary changes are needed urgently.

    Two major problems need to be addressed. First we will need to find a new anchor for the world’s monetary system, and secondly, worldwide debt restructurings, comparable to debt jubilees in ancient times, have to be arranged. Debt jubilees are still a step too far in the current global mental state, hence full focus is on the structuring of a new anchor.

    “Since the outbreak of the financial crisis, the Chinese have pressured the U.S. to change the current dollar-based monetary system. The Chinese, ever more in the driving seat of global finance, have made it very clear that the Special Drawing Rights (SDR or IMF-money) of the IMF is the preferred future international world reserve currency.”
    . . . . .
    “So there you go, to include a commodity like gold into the SDR as a six currency component could help to make the SDR, more neutral to global cycles and more representative of the shift in economic power witnessed over the last two decades.

    The idea of adding gold to the SDR was also studied by professor Catherine Schenk in 2011. According to her study to, ‘re-introduce a role for gold in the international monetary system’ would,  ‘provide a counterweight to the impact of the depreciation/appreciation of the US$’, and could, ‘reduce vulnerability to the USD exchange rate’. (1)

    Professor Robert Mundell, a special advisor to the Chinese government, is also in favor of bringing gold back to the monetary system: (9)

    read more.

James_Rickards-RIP_Petrodollar_March1975-4Sept2016

http://www.newdawnmagazine.com/Article/A_Global_Central_Bank_Global_Currency_World_Government.html

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https://socioecohistory.wordpress.com/2013/04/18/the-tower-of-basel-secretive-plans-for-the-issuing-of-a-global-currency-2/

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http://thenewamerican.com/economy/economics/item/14579-killing-the-dollar-g20-imf-push-for-global-fed-global-currency

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http://www.thenewamerican.com/economy/economics/item/20833-imf-the-new-global-fed

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Ron_Paul_Merger_of_ECB_FedRes_BOJ_WorldCentralBank

  • “They are planning through the IMF to come up with a World Currency to replace the dollar because the dollar will be replaced you just can’t keep printing them forever …. They wanna come up with another currency controlled and ruled by the United Nations and IMF ! “ – Quote: Ron Paul, 12 Jan 2012 at South Carolina.
  • “Are we going to go another step further into INTERNATIONAL MONEY … are we gonna go toward a U.N./IMF STANDARD where they are going to control with the USE OF FORCE another fiat standard. That’s what many people are working for and I CONSIDER THAT A VERY DANGEROUS MOVE!” – Ron Paul
http://www.thenewamerican.com/economy/economics/item/4489-imf-report-promotes-world-currency

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http://americanfreepress.net/?p=1263

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August 18, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Deutsche Bank ADMITS it is Preparing for Market Crash as Fears Over Bail Out Grow

http://www.express.co.uk/news/world/700610/Deutsche-Bank-ADMITS-it-is-preparing-for-market-crash-as-fears-over-bail-out-grow

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http://www.express.co.uk/news/world/699174/Deutsche-Bank-share-price-plunge-eurozone-crisis

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August 18, 2016 Posted by | Economics | , , , , , , , | Leave a comment

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