Socio-Economics History Blog

Socio-Economics & History Commentary

Bonds, Gold Types, Paper Gold Dumping … Q&A with Lynette Zang and Eric Griffin

  • ITM Trading Streamed live 4 hours ago
    Question 1. Donna L: Why do you prefer Numismatics over Bullion?
    Question 2. Cycle Tech: Will world governments and central banks cause the crash when they are ready to do so?
    Question 3. Stephanos R: At the opening bell of the stock market, on April 16th, 2019, someone sold 1.5 billion dollars worth of notional (paper) gold. Who can own this amount of notional gold and why would they be selling it? Central Bank? Or one of the large international/national banks?
    Question 4. Art S: Could you kindly explain how a strong dollar would be bad for all of us and the precious metal market?
    Question 5. Daniel F: Once the hyper-inflationary spiral begins, do you see a compensatory mechanism being triggered, in which bond owners would flee in panic, causing an implosion in the market and subsequent spike in interest rates?


April 24, 2019 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

Chris Powell: Global Manipulation Cannot Stop Inflation

  • This is Bigger than Gold & Silver Manipulation – Chris Powell
    by Greg Hunter’s (Early Sunday Release)
    Chris Powell, Treasurer and Secretary of the Gold Anti-Trust Action Committee (GATA), says price manipulation of all markets is a major problem the world faces. Powell explains, “This is an issue far bigger than gold and silver. Gold and silver are just minerals, atomic elements. The issue for us is much bigger than that. The issue is free and transparent markets and having an accountable government. You cannot have those things unless you have freely traded monetary metals markets and freely trading currency markets as well. We don’t worship the golden calf or the silver bull. We are pursuing a much more justice oriented agenda here. We want government to tell us what they are doing in the markets. We want them to be open and accountable, and that requires a free and transparent monetary metals market.”

    No matter how much financial manipulation is occurring on a global scale, you cannot suppress the outcome of those policies. One of the outcomes is inflation, and yet the new cover of Bloomberg/Newsweek asks the question “Is Inflation Dead?” Powell says, “This is worse than a prediction. It’s a delusion. Inflation is all around us. I don’t know what world the government is living in where they put out monthly reports saying inflation is tame. These people are not paying medical insurance premiums. They are not paying college tuition. They are not paying state taxes. They are not going to the grocery store and seeing prices rise monthly and, of course, they are not noticing the inflation that has manifested itself in the stock market. . . . Inflation is not dead. It’s all around us, and it has been all around us.”

    GATA has been trying to get the U.S. government to come clean about massive market manipulations. GATA says they have hit a stone wall of silence. Powell concludes, “Presumably, the U.S. Treasury is secretly trading in any number of markets and refuses to say which markets they are. . . . I heard a U.S. Assistant Attorney move for a Summary Judgement dismissal of our lawsuit saying, without admitting the U.S. government was rigging the markets as we complained in our lawsuit, the U.S. government does claim the power to do what our lawsuit complained of, and that was to secretly rig the markets. I think we have established this now to the satisfaction of any reasonable person . . . . Especially since the CME Group, which operates the major futures exchanges in the United States, has just renewed what it calls its central bank incentive program, which gives enormous volume trading discounts to governments and central banks for surreptitiously trading all the futures markets. . . . So, we know the CME group has created mechanisms for secret trading by the U.S. government and other governments to get discounts in all of the futures trading in the United States.”

    In closing, Powell reminds us, “At some point, manipulations do fail . . . . Manipulations only work because of deception.” Powell contends that global financial powers are trying to suppress inflation through the manipulation of all futures and commodities, but it’s not working.


April 22, 2019 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

Michael Pento: Falling Interest Rates — Rocket Fuel for Gold

  • Michael Pento: Falling Interest Rates — Rocket Fuel for Gold
    by Greg Hunter’s
    Money manager Michael Pento says get ready for big inflation. Pento explains, “When the emergency ended (from the 2008-2009 financial meltdown), they were going to reverse course, sell those assets back to the public and take those dollars out of the economy. . . . A funny thing happened on the way to doing that, the global economy imploded. So, here’s the point . . . the central banks have admitted, tacitly at least, they can never take away those assets. They can never drain their balance sheet, meaning they have permanently monetized this debt. Interest rates can never be allowed to rise above 0% in nominal terms and, in real terms, will grow more and more profoundly negative. That should shock investors. That is a moment of enlightenment, a watershed moment, an epiphany throughout the world. Hello investors, central banks are putting you on notice that nominal interest rates are going to be at 0% or below, and real interest rates will grow more and more negative throughout time. . . . If China cannot re-leverage its economy for explosive growth, and central banks are extremely fettered with their ability and means for which to stimulate economic growth immediately, I would be cautious about buying this rally, which I am. I think we are going to have one more sharp downturn in the equity market . . . and then, here’s the sad truth, you have to go massively long inflation hedges.”

    This brings up top gold and silver for protection against the coming money printing and inflation. Pento explains, “These currencies will collapse against precious metals as they did in Rome. Prices will go a lot higher as they did in Rome. . . . When people lose faith in a currency’s purchasing power . . . this is why gold has had spectacular three month rally, and I expect it to continue after a little consolidation here. . . . The debt has been permanently monetized across the globe. That’s pretty scary. If we are all headed in the same direction as Rome, that is pretty frightening. . . . Central banks have messed up for lack of a better word. They understand that they control the entire global economy. They control all asset prices, and they can never step away. That should scare everybody.”

    In closing, Pento gives his simple economic road map. Pento says, “We’re going to have one final whoosh down in stock prices and in the economy. That’s going to bring Jerome Powell (Fed Head) back to 0% interest rates and back into QE (money printing), and then it is intractable inflation for as far as the eye can see. That is going to be a very, very dangerous new paradigm for the world. We are all going to look like Rome. Real interest rates will be falling, and that is rocket fuel for gold.”


February 28, 2019 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

Currencies Threatened by a Credit Crisis — The Return of the Gold Standard

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

  • Currencies Threatened by a Credit Crisis — The Return of the Gold Standard
    In this article I draw attention to the similarities between the current economic situation and that of 1929, and the threat to today’s unbacked currencies. There is the coincidence of trade protectionism with the top of the credit cycle, and there are the inflationary events that preceded it. The principal difference today is in modern macroeconomic delusions, which hold that regulating inflation of money and credit is the solution to all ills. I conclude that economic salvation can only come from ditching today’s macroeconomic theories and by returning to monetary stability through credible gold exchange standards.

    There is an assumption in economic circles that when the general level of prices changes, it is always due to changes in supply and demand for goods and services. Prices change all the time, but without a change in the public’s preference for or against holding money and with all else being equal, the general level of prices simply cannot change. Changes in the general level of prices are due to changes in the purchasing power of the money, which stems from the public’s preferences for or against it and do not emanate from goods and services.

    This may not at first sight appear to matter, but it calls into question the widespread assumption that price changes are only due to changes in supply and demand for goods and services. It is a basic error behind modern monetary theory (MMT), whose supporters are busy reviving Georg Knapp’s Chartalist theories of money, the theories that permitted Bismarck’s inflationary pre-war armament financing and the subsequent collapse of the German currency in 1923. Believers in a divine right for the state to issue currency will not let themselves be distracted by inconvenient facts. MMT followers are only one group of neo-Keynesian inflationists, who are generally blind to the blunders of their revisionist economics.

    Instead, they assume that the purchasing power of a state-issued currency is objectively fixed, only varied by changes in its quantity. Preferences for or against money are not in their economic lexicon. They ignore the evidence of hyperinflations, where the loss of purchasing power is never a straight-line affair. A myopic approach allows them to believe their feared deflation can be offset simply by regulating the increase in the quantity of money to ensure price stability, when in fact they are advocating what amounts to a hospital pass.

    read more.


February 20, 2019 Posted by | Economics, History | , , , , , , , | Comments Off on Currencies Threatened by a Credit Crisis — The Return of the Gold Standard

Reset Mortgages, Cashless Society, When to Buy Gold And Silver … Q&A with Lynette Zang and Eric Griff

  • ITM Trading Streamed live on Feb 12, 2019
    Link to the Slides and Sources:…
    Question 1. Colonel S: Would the U.S. government do its own reset for America and other nations do resets for their countries?
    Question 2. Alferes 77: It is inevitable that we are going to have a cashless society, if so what can we do now to be prepared for that?
    Question 3. Eddie: what will happen to those bank accounts that have less than $250,000 during a bail-in?
    Question 4. 83: Does a mortgage company have the legal ability to reset your fixed mortgage interest rate during hyperinflation? If so what counter strategy can the mortgage holder execute?
    Question 5. Joel V: Jim Rogers says to wait until the crash to buy precious metals. He says that as everyone panics and scrambles for dollars that will temporarily strengthen the dollar which will lower metal prices. I’ve looked at the charts and they do line up with that theory. In 2008 there was about a one-month time period where silver was around $10, immediately following the crash. What is your opinion on the matter?


February 15, 2019 Posted by | Economics | , , , , , , , , | Comments Off on Reset Mortgages, Cashless Society, When to Buy Gold And Silver … Q&A with Lynette Zang and Eric Griff

401k, BAIL-IN, BAIL-OUT, CREDIT AND DEBT. Q&A with Lynette Zang and Eric Griffin

  • ITM Trading Streamed live 5 hours ago
    Link to the Slides and Sources:…
    Question 1. Lots of Viewers: What is your opinion on withdrawing all funds from a 401k to position into other assets?
    Question 2. Woody G: How do you see the reset affecting brokerage accounts? Will these disappear down a dark hole or will the market survive intact?
    Question 3. Rajat S: Could you please explain the difference between bail-in and bail-out concept when it comes to saving financial institutions in situation of crash.
    Question 4. Sandy M: Would you suggest using the credit card line of credit to buy gold while it is still available? I’m assuming that when the crash happens that all credit will disappear.
    Question 5. Doug M: You said that that they are ready for a reset. Do you think that movement to come is going to be inflationary, hyper-inflationary, or deflationary? For those of us with some “debt”, are we going to get to pay off that “debt” with much cheaper dollars?


January 9, 2019 Posted by | Economics | , , , , , , , , , , , , | Comments Off on 401k, BAIL-IN, BAIL-OUT, CREDIT AND DEBT. Q&A with Lynette Zang and Eric Griffin

Massive Drawdown of Physical Metal | Rob Kirby

  • Reluctant Preppers Published on Dec 6, 2018
    When proprietary ​analyst of precious metals and former credit derivatives trader Rob Kirby informs us that an epic amount of physical precious metals was just withdrawn and memory-holed using off-market transactions, we sit up and take notice. The adage to “ignore their words and follow the money” leads us into a piercing expose of the Comex as an “operational crime scene,” the G20 summit as a sign of the breakup of nationalists vs. globalists, the government imposed hikes on oil & gas in France and the leading edge of hyperinflation contagion, and the Deutchebank investigation as a wedge between the US and the EU.


December 8, 2018 Posted by | Economics | , , , , , , , , , , , | Comments Off on Massive Drawdown of Physical Metal | Rob Kirby

Rob Kirby: Massive Amounts of Dollars Must Be Fed into System or It Blows Up

  • Rob Kirby: Massive Amounts of Dollars Must Be Fed into System or It Blows Up
    by Greg Hunter’s (Early Sunday Release)
    Macroeconomic analyst Rob Kirby has one burning question for the U.S. Treasury selling record amounts of debt to finance the federal government. Kirby asks, “The question is . . . and more and more people are asking, with the traditional financiers absent from the game, so they are not buying the new debt . . . The question is who is buying it? The only credible answer is the debt is being monetized. This $21 trillion . . . in “missing money” . . . is being mobilized to monetize the debt. It’s memory holed, but this is not a game that can go on forever. This is not a sustainable practice.”

    This may be a good reason why the Bank of England is not giving Venezuela’s gold back after it asked for it. It is also holding on tightly to Australia’s gold. Is the Bank of England afraid the global debt balloon is going to pop soon? Kirby contends, “This balloon will pop, and at some point in time, the price of gold is going to go bananas up. This will happen as sure as there will be wild fires again in California.”

    Kirby says as the gold price skyrockets, the buying power of the U.S. dollar will implode. Kirby explains, “The growth rate of the current world reserve currency, the fiat U.S. dollar, is in a phase where its growth is vertical. It must remain vertical, and the minute it stops going vertical, it collapses onto itself, and that likely means a hyperinflation event. It means the currency goes to a zero value. All fiat currencies return to their true intrinsic value, which is zero. Fiat currencies throughout history have all shared that one common trait. They all return to their true intrinsic value, and the U.S dollar will be no different than the hundreds of other fiat currencies before it.”

    Kirby also arranges the purchase of gold by the ton for wealthy clients. What has been happening in his world? Kirby says, “In the last three or four months, I would share with you that the urge for very serious money to get out of fiat and into physical metal has been unprecedented. We are talking many, many, many billions of dollars worth of fiat money looking to get converted into physical metal. The lineup of billions of dollars to get into physical metal is astoundingly large.”

    If you think this all sounds crazy, well it is, and the financial elites know it. Kirby says, “When the financial elites are dealing with hopeless situations, they will make decisions that they know are absolutely foolhardy, have no merit and no prospects for success long term. They will push the mantra that if we can prevent the collapse from happening today and buy another day, or buy another week, or buy another month, then it’s worth doing. They avoid anarchy and basically they avoid meeting their end, and they avoid being hung. What this is really all about is treason has been committed at the very highest levels by financial elites and the people in control of the financial apparatus. In America, the people controlling the financial apparatus are the Deep State, and we know that Trump is anti-Deep State.”

    In closing, Kirby says, “Why has this gone on so long? Most people are dumbfounded it (a crash) did not happen 10 to 15 years ago. The reason it hasn’t happened? . . . . The explanation is these jokers have created so much more money than anyone can wrap their head around. The money was created because we are on the vertical part of the growth curve of the dollar. This money has to be continually fed into the system or the whole thing blows up.”


November 19, 2018 Posted by | Economics | , , , , , , , , , , , , , , , | Comments Off on Rob Kirby: Massive Amounts of Dollars Must Be Fed into System or It Blows Up

John Rubino: Elite Terrified of 1930’s Depression or Weimar Hyperinflation

  • John Rubino: Elite Terrified of 1930’s Depression or Weimar Hyperinflation
    by Greg Hunter’s 
    Financial writer John Rubino says everywhere you look, debt is exponentially mounting. Nothing demonstrates the “imminent bankruptcy” problem better than the financial obligations of New York City. Rubino says, “They just announced that they have unfunded liabilities for retiree healthcare, just retiree healthcare and not the rest of their pensions, of $100 billion. That’s for a city, not a state or a country, and if you add their unfunded liabilities for their pensions, which is another $50 billion or so, and their official debt, which is $50 billion or so, you get $200 billion that New York City is on the hook for that they have not put money away for. If a private sector company had finances like that, they would be insolvent, and their accountants would force them to say that.”You can tell the same story for cities, states and countries around the world swimming in unrepayable debt. So, what will be done when bond defaults and financial failures begin? Will Trump let it go like the failed debt of Puerto Rico or have massive bailouts? Rubino says, “It’s possible that Trump will teach that lesson to the system, but I think the numbers are so big now the risk of a 1930’s style depression, or a Weimar Germany hyperinflation, is so great these guys are going to be terrified of anything that seems to be destabilizing. The pressure on whoever is in charge of the central bank or federal government is going to be to try to nip crises in the bud before they can really get going when you don’t know what is going to happen. For instance, New York City goes bankrupt, and that pulls down Chicago, and then that pulls down California. What does that mean? Nobody knows, and nobody wants to find out.”

    Rubino contends massive bailouts will explode in the next economic downturn, and they will have grave consequences for interest rates and the U.S. dollar. Rubino says, “They would say, hey, here’s $5 trillion to bail out states and localities across the country. People will see that and will worry about what that means for the value of the dollar. So, they sell dollars, and not just here, but all around the world. The dollar starts to fall, and interest rates start to go up. If the dollar is tanking, who wants to lend money to the federal government that is going to be paid back in a depreciating currency? So, our interest rates go up. That causes our interest costs to go through the roof and forces the government to borrow even more. . . . At some point, the whole thing blows up. There is a number out there when all this will happen. . . . So, the question is what is that number, and when do we hit it? . . . . The concept of fiat currencies will be called into question when all this happens. The dollar might lead this down or some other fiat currency might lead it down. . . .At some point, they will realize all the fiat currencies are basically in the same boat. . . . We can’t know the timing of this, but we can know what will do well when this happens, and that is gold and silver.”


November 15, 2018 Posted by | Economics | , , , , , , , , , , , , | 1 Comment

THE FUTURE OF GOLD: As Economic Patterns Shift. Q&A with Lynette Zang and Eric Griffin

  • ITM Trading Streamed live 5 hours ago
    Link to Slides and Sources:…
    Question 1. Niko: With all the current stock market volatility, I’m wondering if money market accounts are any safer of a position?
    Question 2. Nola S: How are collectible coins identified? Are these coins collectible: the $20 St. Gaudens, $10 Indian, $10 Liberty, & $1 Peace?
    Question 3. Kathleen D: explain the Exchange Stabilization Fund (ESF), it’s role in our economy as well as in relation to the Fed?
    Question 4. Richard W: If gold ownership is made illegal, what good is gold ownership as we probably won’t be able to find buyers?
    Question 5. Jason H: Let’s say I have 1oz of gold today given a spot price of $1,330 USD and I buy 380 loafs of bread @ $3.50 USD. Tomorrow comes and the entire world dumps fiat and goes back to gold & silver (or perhaps 100% PM backed fiat). Would this not result in a huge demand in gold thus increasing its value (or purchasing power) from say 380 loafs to 450?


November 14, 2018 Posted by | Economics | , , , , , , , , , | Comments Off on THE FUTURE OF GOLD: As Economic Patterns Shift. Q&A with Lynette Zang and Eric Griffin

Argentina Signs $8.7 Billion Swap Agreement With Beijing To Shore Up Sagging Peso

  • Argentina Signs $8.7 Billion Swap Agreement With Beijing To Shore Up Sagging Peso
    by Tyler Durden,
    Embattled Argentinian President Mauricio Macri has been scrambling to shore up his country’s struggling currency since the IMF’s executive board finally approved a record – and expanded – $57 billion bailout loan with the explicit condition that the country’s central bank refrain from using that money to support the Argentine peso.

    But as Argentina’s battered economy has continued to deteriorate, the peso’s value has eroded dramatically as the central banks pushed , cementing its status as one of the worst-performing currencies of 2018, as traders ignored a series of frantic rate hikes that brought the overnight interest rate in the country to a staggering 60% (which appears somewhat more appealing next to the country’s annualized inflation rate of 40%).

    read more.


November 9, 2018 Posted by | Economics | , , , | Comments Off on Argentina Signs $8.7 Billion Swap Agreement With Beijing To Shore Up Sagging Peso

LIVING THROUGH A COMPLETE COLLAPSE: Boots on the Ground with Fernando “FerFAL” Aguirre

  • ITM Trading Published on Nov 8, 2018
    In this video Lynette Zang Interviews Fernando “FerFAL” Aguirre; a father, husband and survivalist that has lived through the Argentine socio-economic collapse of 2001, and the consequences such collapse had in the years that followed. He’s the author of numerous articles found on line and is recognized among the survival and preparedness community for his personal experience and no-nonsense approach to survivalism. He’s also the publisher and owner of “Surviving in Argentina”, a blog he keep up with updated articles, posts as well as reports of the situation in Argentina.


November 9, 2018 Posted by | Economics | , , , , , , , , , | Comments Off on LIVING THROUGH A COMPLETE COLLAPSE: Boots on the Ground with Fernando “FerFAL” Aguirre

Lynette Zang: Dollar Collapse & Gold

  • ITM Trading Streamed live on Oct 16, 2018
    yt-… Link to Slides and Sources:…

    Question 1. Sean B: Would zirp apply to brokerage accounts? Would a brokerage money market account be safer than a bank account?
    Question 2. Stephanos R: How do you come up with 25 gold 1oz coins can buy you 1 square block, buildings and all?
    Question 3. Richard W: Can the US Treasury change the maturation date of a bill/note/bond? ie, changing a 6 month note that I purchase to a 30 year bond after the fact?
    Question 4. Ye K: Given gold and usd is currently so much stronger than Venezuala, Argentina dollar. Why would investors not take the opportunity to go raid their assets?
    Question 5. Donnie M: Is it likely that high priced beach front property will take biggest hit. While productive farm land will lose less?


October 18, 2018 Posted by | Economics | , , , , , , , , | Comments Off on Lynette Zang: Dollar Collapse & Gold

Dr. Mark Skidmore: $21 Trillion “Missing” Money Huge Implications for Dollar. Entire Federal Budget Now National Security Secret

  • Dr. Mark Skidmore: $21 Trillion “Missing” Money Huge Implications for Dollar. Entire Federal Budget Now National Security Secret
    by Greg Hunter’s (Early Sunday Release)
    Michigan State Economics Professor Mark Skidmore made a stunning discovery late last year. Using publicly available government accounting reports, he revealed there was $21 trillion in what he calls “missing money” from the Department of Defense (DOD) and Housing and Urban Development (HUD). The data he used has been scrubbed, all accounting records are heavily redacted and now the federal government has declared its accounting falls under “national security.” Dr. Skidmore can no longer get the government to respond. Dr. Skidmore explains, “At this point, they are no longer responding to any of my inquiries. They are just not answering, and that is very astounding . . . and you can go on and look at the report yourself and see all of it blacked out. I actually lost sleep over that. That really bothered me. . . . Now, they are not even using standard accounting financial reporting rules. They are just moving things around and not telling anybody. So, first, all of this stuff is hidden because it is a national security issue, and now they are just changing the accounting standards. I would ask is that constitutional? I don’t think so. Does it match any of our financial reporting laws? I don’t think so. I am not sure what gives the government the authority to make that decision, and, yet, it’s happening.”

    The revelation that there is an additional $21 trillion dollars that cannot be accounted for on top of the more than $21 trillion officially in federal debt is an astounding number. It is probably the most important data point since the Federal Reserve was founded in 1913. Dr. Skidmore says, “It’s a huge amount of money to not be able to explain, and they are not explaining it.”

    Dr. Skidmore says there is a limit to money printing even when all the global central banks are doing it. Skidmore says, “What does it mean when a central bank is buying equities, or buying debt with printed money in order to suppress interest rates and keep this game going? I think, overall, the whole world is awash in debt, and it’s expanding at a rate that is unsustainable. The only way it has been sustained is that interest rates have been falling for 30 years. Now, interest rates are no longer falling, and we are running up against a constraint. Now, if this $21 trillion in ‘missing’ federal money really represents spending above and beyond what the official records indicate, then that has huge financial implications and huge implications for confidence in the dollar as the reserve currency. This is an enormous priority to address and not just cover up and say we are all good.”

    In closing, Dr. Skidmore says, “How can you have a democracy if you don’t have any transparency whatsoever? Having integrity and confidence is so essential to the whole system, and this just puts everything in question. . . . We should clean this up and show we are legitimate. If we don’t, we are just shooting ourselves in the foot.”

Click on image for article.

Click on image for article.


October 16, 2018 Posted by | Economics | , , , , , , , , , , , | Comments Off on Dr. Mark Skidmore: $21 Trillion “Missing” Money Huge Implications for Dollar. Entire Federal Budget Now National Security Secret

WILL HYPERINFLATION PUSH US to Return to the Gold Standard? The Questions that Didn’t Get Answered

  • ITM Trading Streamed live on Oct 3, 2018
    Question 1: I’ve read that one of the reasons we haven’t experienced hyperinflation is because the banks have placed QE reserves they received at the Central Bank where they are receiving more interest $ than they could in other instruments. I have heard Lynette say that the banks have no reserves; they have either lent them all out or distributed them to executive compensation or buybacks. So which is correct?

    Question 2: My question is that if the Fed can create currency with the click of their mouse, are they, or why aren’t they creating money and buying physical gold? It would essentially be buying insurance for free.
    Question 3: Do you think it would make sense for the US to return to a gold standard and why/why not?
    Question 4: IF the US was to default on its China debt, would that in itself constitute a trigger event for the banks?

    And if you want to actually DO about all of this, that’s what we specialize in at ITM Trading. How do you protect your wealth for the next collapse and financial reset? 


October 8, 2018 Posted by | Economics | , , , , , , , , , | Comments Off on WILL HYPERINFLATION PUSH US to Return to the Gold Standard? The Questions that Didn’t Get Answered