Socio-Economics History Blog

Socio-Economics & History Commentary

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and former credit derivatives trader Rob Kirby informs us that an epic amount of physical precious metals was just withdrawn and memory-holed using off-market transactions, we sit up and take notice.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.

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December 8, 2018 Posted by | Economics | , , , , , , , , , , , | Leave a comment

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 USAWatchdog.com (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.”

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November 19, 2018 Posted by | Economics | , , , , , , , , , , , , , , , | Leave a comment

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 USAWatchdog.com 
    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.”

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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: https://www.itmtrading.com/blog/futur…
    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?

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November 14, 2018 Posted by | Economics | , , , , , , , , , | Leave a comment

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, https://www.zerohedge.com/
    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.

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November 9, 2018 Posted by | Economics | , , , | Leave a comment

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.

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November 9, 2018 Posted by | Economics | , , , , , , , , , | Leave a comment

Lynette Zang: Dollar Collapse & Gold

  • ITM Trading Streamed live on Oct 16, 2018
    yt-… Link to Slides and Sources: https://www.itmtrading.com/blog/takes…

    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?

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

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 USAWatchdog.com (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.”

http://www.wnd.com/2016/08/6-5-trillion-missing-from-defense-department/

Click on image for article.

http://crooksandliars.com/2015/06/report-reveals-85-trillion-missing

Click on image for article.

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October 16, 2018 Posted by | Economics | , , , , , , , , , , , | Leave a comment

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? 

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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

Will Hyperinflation Push Us to Return to the Gold Standard? The Questions that Didn’t Get Answered.

  • ITM Trading Streamed live 5 hours ago
    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?

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October 4, 2018 Posted by | Economics | , , , , , , , , | Comments Off on Will Hyperinflation Push Us to Return to the Gold Standard? The Questions that Didn’t Get Answered.

Peter Schiff: Coming Financial Crisis Much Bigger than 2008. People Will Be Dumping Dollars & Buying Gold

  • Peter Schiff: Coming Financial Crisis Much Bigger than 2008. People Will Be Dumping Dollars & Buying Gold
    by Greg Hunter’s USAWatchdog.com 
    Money manager Peter Schiff was in a small group warning of a coming financial meltdown that happened in 2008. Schiff says, “I was kind of a fixture on financial cable TV giving these warnings. My thought was the bubble would burst, and I knew that it would. Once the housing bubble burst and we had this financial crisis, I knew it would follow along with the Great Recession. I thought the Federal Reserve would try the best it could to reflate the bubbles in the stock markets and housing markets. But my thought was that their efforts would fail. The markets would not allow it and that a dollar collapse would intervene and would prevent new debt from being issued to fully reflate those bubbles. I was actually wrong. They didn’t just try to reflate the bubbles, they actually succeeded in blowing them bigger than ever.”


    Ten years later, Schiff is warning of another financial calamity bigger than the last one. Schiff says, “The problem is now we are on the precipice of a much bigger crisis than before. The next time, if they try to reflate those bubbles, which they will, it will be a spectacular failure because the markets are now prepared for the opposite. Everybody, right now, assumes the Fed is going to be able to keep raising rates. They assume they are going to shrink its balance sheet and that we have this booming economy that will never bust. When the Fed has to reverse course abruptly, acknowledge the underlying weakness that everybody has been oblivious to and they start cutting rates and launching another round of quantitative easing (money printing), I think the dollar is going to fall through the floor. I think the inflationary fires that are already burning pretty hot are going to ignite. It’s not going to be like 2008 where the dollar went up and consumer prices inched down a little bit. I think the dollar is going to tank and consumer prices are going to soar, and it’s going to be stagflation. When the markets get a whiff of that, they are not going to like the way it smells. It is going to create a dollar crisis. I think the Fed has put itself between a rock and a hard place. There is no way out this time. . . . This time, you really have to be positioned because this time is going to be the end of it. This is not going to be a hat trick or third time is a charm when it comes to reflating these bubbles.”

    read more.

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October 4, 2018 Posted by | Economics | , , , , , , , , , , , , | Comments Off on Peter Schiff: Coming Financial Crisis Much Bigger than 2008. People Will Be Dumping Dollars & Buying Gold

GOLD VS. SILVER BALANCE: Hyperinflation & Collapse Discussions. Q&A with Lynette Zang

  • ITM Trading Streamed live 4 hours ago
    Link to Questions: https://www.itmtrading.com/blog/gold-… 
    Viewer Submitted Questions:
    Question 1. Brian T: Trying to get the optimum balance of holding gold v silver puts my head in a spin… Bix Weir says “sell all your gold and buy silver”… Jim Sinclair says gold will go to $50,000, while Bill Holter says it may go to $100,000+! Jim Willie et al say more like $10,000? Everyone says silver will skyrocket, but price estimates vary from $500 to $1,000, or possibly a lot more. What does your crystal ball say, please?
    Question 2. Ian M: let’s say we experience Weimar inflation and 1 oz. gold = $100 million. We know that wages won’t keep up. So who exactly will be able to buy gold at $100 million?
    Question 3. Dave: if there’s a “reset” what stops the government from only paying out the face value of the silver or gold coin? If they reset why can’t they reset the value to face value?
    Question 4. Neil: Is it possible some countries will experience a deflationary depression while others experience a hyperinflationary depression?

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September 19, 2018 Posted by | Economics | , , , , , , , , | Comments Off on GOLD VS. SILVER BALANCE: Hyperinflation & Collapse Discussions. Q&A with Lynette Zang

WHERE Did the Missing $21 Trillion COME FROM? | Wayne Jett

  • Reluctant Preppers Published on Sep 10, 2018
    President Trump’s Executive Order (EO 13818) freezes the assets and travel rights of perpetrators of human rights abuses & corruption. Is this EO actually locking up unthinkable trillions of illicit funds in bank accounts just made public via a major leak? Author of “The Fruits of Graft: Great Depressions Then and Now,” Wayne Jett, returns to Reluctant Preppers to publicly comment on his recent article, “Where Did the Missing $21 Trillion COME FROM?” Jett declares with characteristic measured judgment why he believes we are witnessing a rout of globalists and their ill-gotten fortunes as never before seen in the history of the world! Read Wayne Jett’s article,

    “Where Did the Missing $21 Trillion COME FROM?” http://www.classicalcapital.com/Missi…

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September 12, 2018 Posted by | Economics | , , , , , , , , , , , | Comments Off on WHERE Did the Missing $21 Trillion COME FROM? | Wayne Jett

Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes

9 Jan 1988 cover, The Economist: Get Ready for a World Currency by 2018! The Rise of the Phoenix world currency from the ashes of national fiat currencies ie. destruction of fiat currencies via hyperinflation. “Phoenix” is of course an occult metaphor. Out of the destruction, the ashes of the old world order, the Luciferian New World Order will rise like a Phoenix!

  • Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes
    by http://theeconomiccollapseblog.com/
    The wait for the next global financial crisis is over.  Major currencies all over the planet are in a “death spiral”, many global stock markets are crashing, and economic activity is beginning to decline at a stunning rate in quite a few nations.  Over the past 16 years, the emerging market debt bubble has grown from 9 trillion dollars to 63 trillion dollars.  Yes, you read that correctly.  Now that emerging market debt bubble is imploding, and as a result emerging market currencies all over the globe are in “complete meltdown”.  In fact, at least 20 different currencies have fallen by double-digit percentages against the U.S. dollar so far in 2018, and nobody is quite sure what is going to happen next.

    You may be tempted to think that this must be a good thing for the United States since the value of the U.S. dollar has been rising, but it is not.

    During the “boom years”, trillions of dollars were borrowed by emerging market economies, and a high percentage of those loans were denominated in U.S. dollars.  Now that their currencies are crashing, it is going to take much more local currency to service those U.S.-denominated debts, and a whole lot of them are going to start going bad.

    That means that many financial institutions here in the United States and over in Europe are going to end up holding enormous piles of bad debt, and the losses could potentially be astronomical.

    The dominoes are starting to fall, and even the mainstream media is admitting that what we are facing is really bad.  For example, the following comes from a CNBC article entitled “The emerging market crisis is back. And this time it’s serious”

    read more.

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September 8, 2018 Posted by | Economics | , , , , , , , | Comments Off on Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes

HEADS UP: Central Bank Domino’s Falling!

  • ITM Trading Streamed live 3 hours ago
    The global contagion has begun. At this writing thirteen fiat currencies are imploding, and currency markets no longer seem to be listening to the central bankers as any intervention has a very short or no impact at all. What the globalists feared, is now coming to pass. In my opinion, we have just entered the next phase of the fiat system unraveling as confidence in emerging market central bankers evaporates. Since it is the “Full Faith and Credit” that supports the fiat system, this loss in confidence is critical. So what do governments and central bankers have confidence in? Physical gold. They know that gold is real money with global value, that is beyond the control of any other government or central bank. They know, what J.P. Morgan knew at the start of this fiat experiment, “Gold is money. Everything else is credit.”

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September 7, 2018 Posted by | Economics | , , , , , , , , , , , , , , , | Comments Off on HEADS UP: Central Bank Domino’s Falling!