Socio-Economics History Blog

Socio-Economics & History Commentary

Petrodollar Faces Growing Threat From the East. Payments in Gold Across Asia

  • Petrodollar Faces Growing Threat From the East. Payments in Gold Across Asia
    by Andrew BrennanAsia Times, via http://www.globalresearch.ca/
    While the recent raft of Sino-Saudi trade agreements benefited Chinese soft power in protecting Xinjiang, and the Saudis by diversifying their economy, China’s slow intertwining with Saudi Arabia complements the Sino-Russian alliance. Primarily, its benefits could lead to a realistic threat to the petrodollar.

    The Persian rival who showed the way
    In 2012/2013, the US Treasury Department, under the Obama administration, initiated a raft of sanctions in an amateurish fashion against the Central Bank of Iran. As we were told, it was done to tire and bleed Iranian economic and social life enough to draw Tehran into negotiations concerning its nuclear programme. The argument of were they/weren’t they pursuing a weaponized nuclear program isn’t important; how the Iranians circumvented these sanctions is.


    The sanctions were meant to be stifling, but the Iranians loosened this problematic liquidity noose by using all their banks that weren’t sanctioned, and sold rich Iranian oil to India. Of course, the Indians couldn’t pay Tehran directly. Neither could they pay bilaterally in rupees due to sanctions and infrastructure needed to trade in a bilateral currency. Instead, Iran requested that India pay in gold so India paid Turkey, the Middle East’s gold market, and Turkey gave Turkish gold to Iranian banks, which then swapped with the Central Bank of Iran.

    Turkey, for its part, may soon be the gold payment intermediator across Asia, and is already nationalizing the sector with a demand for private confiscation occurring to support the Turkish economy, but this has scarcely been reported.

    This clever evasion was known as the Iran-India-Turkey triangle. Iran was escaping the dominance of the US dollar and trading in real money, not a hegemonic fiat currency that was being printed hot-off-the-press all day. They were dealing in gold; not something that could be strangled through SWIFT and electrons traded on a screen easily. A simple intermediator and precious metals could break Obama’s heralded “crippling” sanctions.

    Iran ideologically, as well as practically, wants nothing to do with the US dollar but rather it wants to be free of monetary pressures by the US on its domestic policies. The effectiveness of this evasion was a preview to what countries like China, Russia, and to a lesser extent India and South Korea, have all been trying to do: increase their independence from the US dollar. The Iranian gold triangle showed successful independence from US dollar reliance.

    read more.

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May 2, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Mike Maloney: Insane Bond, Stock and Real Estate Markets. China, Russia & India Buying Gold

  • Mike Maloney: Insane Bond, Stock and Real Estate Markets. China, Russia & India Buying Gold 
    by Greg Hunter’s USAWatchdog.com (Early Sunday Release) 
    Financial expert Mike Maloney says what is going on in the economy is like a mass mental illness, especially when you consider the geopolitical risks and extreme valuations across the board. Maloney explains, “We have a stock market and real estate market and a bond market that are all insane.  We’ve got this crazy world where everything is at these valuations that are just impossible things.  That will cause a peak, and we are at a point where we are way overdue for a recession.  Recessions occur every four and a half years on average.  Just two months ago, this became the third longest expansion in U.S. history. . . . In 11 months, it becomes the second longest in history.  So, the chances of going into another recession sometime soon are very, very high.  The chances are on the order of 90% or higher right now for another recession.  When you couple this insane overvaluation of the stock markets, real estate is back in bubbles in most major cities . . . and this has been the perfect bull market for bonds, and at some time interest rates have to rise. . . . We are at the point now where we are going to hit big ruts and bumps in the economy, and the Fed has just taken the training wheels off of the bicycle. . . .This is the worst recovery in history.”


    read more.

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May 1, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

IMF Wants India To Wage War On Cash & Push For A Cashless Society

  • IMF Wants India To Wage War On Cash & Push For A Cashless Society
    by http://greatgameindia.com/
    In the face of strong public opposition the International Monetary Fund (IMF) published a working paper offering governments suggestions on how to move toward a cashless society. In its recent report The Macroeconomics of De-Cashing, the IMF proposed to abolish cash and recommended to adopt measures in order to restrict its use.

    The paper defines ‘De-cashing’ as “the gradual phasing out of currency from circulation and its replacement with convertible deposits.” Defined as replacing paper currency with convertible deposits, de-cashing would affect all key macroeconomic sectors.

    In order to achieve its goal the paper proposes certain steps that include “abolishing large denomination bills, imposing ceilings on cash transactions, introducing declaration requirements on the carriage of cash in and out of the country, reporting requirements for cash payments exceeding a specified amount, and even taxing cash transactions.”

    In an interview with Sputnik Germany, former head of the Federal Association of German Industry (BDI) Hans-Olaf Henkel said that this “could lead to terrible consequences.

    “The European Central Bank (ECB) does not want that depositors to keep their money under the pillow. If any bank in Europe goes bankrupt, then depositors have a guaranteed right that the state will return them the amount of up to 100,000 euros. But not more,” the economist told Sputnik Germany.

    One of the main reasons behind this proposal is the desire of financial institutions to force people to keep their money in banks. As explained in our exclusive report on the global War on Cash: Target India,

    read more.
http://norberthaering.de/en/home/27-german/news/745-washington-s-role-in-india#weiterlesen

Click on image for article.

http://www.armstrongeconomics.com/archives/30862

Click on image for article.

http://www.bloomberg.com/news/articles/2016-05-02/inside-the-secret-meeting-where-wall-street-tested-digital-cash

Click on image for article.

http://english.pravda.ru/news/business/19-05-2015/130638-cash-0/

Click on image for article.

https://www.rt.com/business/377307-jim-rogers-currency-control-cash/

The plan to microchip everyone with RFID ‘666’ is being implemented now. Click on image for article.

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April 24, 2017 Posted by | Economics, EndTimes, GeoPolitics, Social Trends | , , , , , , , | Leave a comment

India Outlawing Cash Altogether in 75 Cities

  • India Outlawing Cash Altogether in 75 Cities
    by Martin Armstrong, https://www.armstrongeconomics.com/
    The Prime Minister Narendra Modi announced on Friday the 14th, that 75 cities will be designated cashless/less-cash townships, with an overwhelming 56 of them being in Gujarat. Modi is determined to bring India into the 21st century. He is being cheered behind the curtain and every government is keenly watching the results. The townships were actually selected on the basis of a recommendation by none other than Price Waterhouse Coopers (PWC) furthering the G20 agenda to stamp out tax evasion worldwide.

    We should be paying close attention to this effort for it is really a global effort to desperately try to support socialism in a world facing a complete collapse in the global monetary system that is on the horizon. Government keep borrowing with never any intention of paying anything off. It’s just one Ponzi Scheme until nobody buys the debt anymore and it just stops.
http://norberthaering.de/en/home/27-german/news/745-washington-s-role-in-india#weiterlesen

Click on image for article.

http://english.pravda.ru/news/business/19-05-2015/130638-cash-0/

Click on image for article.

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April 19, 2017 Posted by | Economics, EndTimes | , , , , , , | Leave a comment

Indian Army Uses Kashmiri Man as Human Shield

  • Published on Apr 17, 2017
    People in Indian-controlled Kashmir have been outraged after a video of a young man strapped to an army vehicle went viral on social media websites. The man is seemingly used as a human shield to protect the convoy from stone-throwers. Press TV’s correspondent Shahana Butt has followed the case and talked to the young man.

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April 18, 2017 Posted by | GeoPolitics | | Leave a comment

Dollar Collapse Or Gold Standard? | Rob Kirby

  • Published on Mar 19, 2017
    The leader of India withdrew the most popular bank notes from India, and many industry insiders believe the motive was to stifle Indian gold demand since much of the gold trade in India is conducted in cash. But the plan backfired: Indian gold demand has gone through the roof!


    Rob Kirby from Kirby Analytics explains why what has just occurred in India is another blow for globalism. Brexit and Trump’s election have also been huge setbacks for globalism. Even though the anti-EU candidate lost in Holland’s elections Wednesday, Kirby thinks globalism is dying. Also in this interview:

    – Paul Ryan, “You’re Fired!” – Why it could happen
    – Will the Dollar go back to the gold standard?
    – The effects of the Dollar losing its world reserve currency status
    – U.S. debt ceiling hit at $19.9 trillion, default coming?
    – Both Republicans and Democrats want to stop Trump’s agenda
    – America doesn’t have the gold reserves it claims to have
    – How would gold investors benefit from a return to a gold standard?
    – Can the U.S. government stop Bitcoin by shutting down the Internet?
    – Will Glass-Steagall be reinstated?

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March 20, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Comments Off on Dollar Collapse Or Gold Standard? | Rob Kirby

Media Blackout As Two Government Pedophile Rings Busted

http://www.express.co.uk/posts/view/370439/Jimmy-Savile-was-part-of-satanic-ring

Click on image for article.

  • Media Blackout As Two Government Pedophile Rings Busted
    by Sean Adl-Tabatabai, http://yournewswire.com/
    Two high-level government pedophile rings were recently busted amid a total media blackout by the mainstream press.

    As western media outlets continue to attempt to debunk and discredit any notion that elite pedophile rings could exist, new reports suggest that high-level government pedophilia not only exists – but it has become the norm.

    In the North Bengal region of India, a child welfare officer has become the seventh person to be arrested by the State’s Criminal Investigative Department (CID) for operating a child-trafficking ring. According to The Hindu, “The CID had unearthed the child trafficking racket during raids at homes and nursing homes in Baduria area of North 24 Parganas district, in Behala in the southern fringes of Kolkata and some other parts of south Bengal in November last year.”

    Activistpost.com reports:
    Abortion clinics in the area were convincing mothers to give birth to their children in exchange for money ranging between $1,400 and $4,500 USD. Other birthing centers told mothers their children were stillborn, when they weren’t, allowing the clinic to steal the babies for sale on the black market. The children were transported in bread baskets to nursing homes in the area where they would remain until they were sold into servitude, as sex slaves, or brothels.

    “It is a huge network of NGOs, nursing homes, doctors and middlemen dealing in illegal adoption and baby trafficking that the police have busted. Our men are now building on the huge leads they have already got in this case,” Rajesh Kumar, CID’s Additional Director General told the press. Additionally, investigators believe foreigners were buying the children. Currency from other countries was found at the same time the children were discovered. Several corpses and skeletons of infants were also unearthed in the raided businesses.

    Child trafficking is on the rise in the U.S. In 2006, a woman living in North Carolina, Mercedes Farquharson, fled the country when it was discovered she’d been using two young girls as house slaves, forced to farm the land, and do all the household chores, along with cooking and cleaning. In 2009, she was arrested in Bulgaria, where she’d fled to escape justice.

    read more.

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March 20, 2017 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , , | Comments Off on Media Blackout As Two Government Pedophile Rings Busted

Globalists Fail Again, Populism Rising | Rob Kirby

  • Published on Mar 16, 2017
    The leader of India withdrew the most popular bank notes from India, and many industry insiders believe the motive was to stifle Indian gold demand since much of the gold trade in India is conducted in cash. But the plan backfired: Indian gold demand has gone through the roof!


    Rob Kirby from Kirby Analytics explains why what has just occurred in India is another blow for globalism. Brexit and Trump’s election have also been huge setbacks for globalism. Even though the anti-EU candidate lost in Holland’s elections Wednesday, Kirby thinks globalism is dying. Also in this interview:

    – Paul Ryan, “You’re Fired!” – Why it could happen
    – Will the Dollar go back to the gold standard?
    – The effects of the Dollar losing its world reserve currency status
    – U.S. debt ceiling hit at $19.9 trillion, default coming?
    – Both Republicans and Democrats want to stop Trump’s agenda
    – America doesn’t have the gold reserves it claims to have
    – How would gold investors benefit from a return to a gold standard?
    – Can the U.S. government stop Bitcoin by shutting down the Internet?
    – Will Glass-Steagall be reinstated?

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March 17, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Comments Off on Globalists Fail Again, Populism Rising | Rob Kirby

Indian Economy Collapses As ‘Demonetization’ Crushes Small Business

Source: WorldEconomics.com

Source: WorldEconomics.com

  • Indian Economy Collapses As ‘Demonetization’ Crushes Small Business
    by Tyler Durden, http://www.zerohedge.com
    The Sales Managers Index (SMI) is one of the earliest monthly indicators of Indian economic activity. February’s data shows the catastrophic after-effects of the December demonetization policy which was intended to crack down on corruption and ‘black money’. The February Headline SMI has fallen to an index level of 60.2 in unadjusted terms, the lowest level in over 3 years.

    Managers are reporting a big drop in monthly sales for both the consumer and industrial sectors, with small to medium size businesses that predominantly deal with cash transactions, being hardest hit.

    read more.
http://norberthaering.de/en/home/27-german/news/745-washington-s-role-in-india#weiterlesen

Click on image for article.

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March 4, 2017 Posted by | Economics | , , , , | Comments Off on Indian Economy Collapses As ‘Demonetization’ Crushes Small Business

India Kicks Out Bill & Melinda Gates Foundation

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February 20, 2017 Posted by | GeoPolitics, Medicine & Health, Social Trends | , , , , , , , , , , , | Comments Off on India Kicks Out Bill & Melinda Gates Foundation

Bill Gates BUSTED; India THROWS Out Foundation, Sues Gates For Dangerous Vaccines

http://pharmabiz.com/NewsDetails.aspx?aid=68352&sid=1

Click on image for article.

http://www.dnaindia.com/india/report-cancer-vaccine-programme-suspended-after-4-girls-die-1368681

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February 20, 2017 Posted by | Medicine & Health, Social Trends | , , , , , , , , , , , | Comments Off on Bill Gates BUSTED; India THROWS Out Foundation, Sues Gates For Dangerous Vaccines

EU Bureaucrats Escalate the War on Cash: Will Precious Metals Be in the Crosshairs?

http://www.ft.com/intl/cms/s/0/159b17ca-47f3-11e5-b3b2-1672f710807b.html

Click on image for article. Needs subscription.

  • EU Bureaucrats Escalate the War on Cash: Will Precious Metals Be in the Crosshairs?
    by https://www.moneymetals.com/
    The global war on cash rolls on. The cabal of bankers seeking more transaction fees, busybody political leaders, and central bankers who want to experiment with negative interest rates recently threw India into turmoil by eliminating the two largest denomination bank notes.

    Now they are preparing a similar assault on Europeans’ ability to transact privately and without giving bankers a cut. European Union officials just published a “Proposal for an EU Initiative on Restriction on Payments in Cash.”

    Predictably, the restrictions are being sold to citizens as a means of fighting terrorism – much like a host of other privacy and liberty-destroying power grabs in recent decades. This despite a telling admission contained in the proposal: “There remains the lack of readily available and solid evidence on legitimate versus illegitimate cash transactions.” Ban the use of cash first, ask questions later.

    Officials may, however, come to regret the timing of their proposal. Many European citizens will have trouble reconciling why leaders are willing to clamp down severely on cash, but not on the flood of refugees pouring in from the Middle East. Can they really be serious about terrorism?

    read more.
http://ec.europa.eu/smart-regulation/roadmaps/docs/plan_2016_028_cash_restrictions_en.pdf

Click on image to goto document.

https://www.weforum.org/agenda/2017/01/the-us-should-get-rid-of-cash-and-become-a-digital-economy-says-this-nobel-laureate-economist

‘666’ rapidly approaching! Click on image for article.

http://theantimedia.org/cash-europe-moves-elimination-paper-money/

Click on image for article.

http://news.xinhuanet.com/english/2016-01/20/c_135029001.htm

Click on image for article.

http://www.armstrongeconomics.com/archives/30862

Click on image for article.

http://www.bloomberg.com/news/articles/2016-05-02/inside-the-secret-meeting-where-wall-street-tested-digital-cash

Click on image for article.

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February 18, 2017 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , , , | Comments Off on EU Bureaucrats Escalate the War on Cash: Will Precious Metals Be in the Crosshairs?

Jim Willie: The Gold Standard Is Emerging!

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

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

  • Jim Willie: The Gold Standard Is Emerging!
    by http://www.silverdoctors.com/
    Summary
    The Chinese Are Putting in Place a Link Between Oil and Gold.   The Petro-Dollar has almost completely vanished. The Gold Standard is Emerging…

    By Hat Trick Letter Editor Jim Willie, GoldenJackass:
    The Gold Trade Note is gradually coming into view, its form within structured contracts is taking shape as components. the Petro-Dollar has almost completely vanished. The Petro-Yuan is essentially here in its infancy, in rudimentary form. the leap to the Gold Trade Note will be easy, once the pieces are aligned and in place. This new note for usage in secure trade settlement is in the inception process. It will be structured within existing trading vehicles and platforms.

    The Russians and Chinese appear to be forming the basis for the payment vehicle within the oil trade. Consider it as a formal reflection of the Iran-India gold for oil trade.

    Bilateral Oil for RMB Sale + Shanghai Gold Exchange = Gold Trade Note

    This triangle is precisely what China and Russia are doing now.
    Russian oil & gas is being sold for Chinese Yuan, and then Yuan is traded for Gold at the Shanghai Gold Exchange. The trade is not complex at all. Oil for RMB for Gold, creating a transaction payment in gold terms. The part unclear is posted margin to confirm and seal the transaction. The immediate implication is that the Chinese RMB will have a quasi-gold link. The original model used might have been the Iranian oil sales to India, with payment completed using Turkish gold. Such gold for oil trade appears to have been commonly executed from 2006 to 2010, and likely beyond that date.


    The Jackass has been expecting that the Gold Trade Note would be structured in a clever way, using swap contracts in major global commerce. It might be taking form in the triangle cited as the working template. Oil is the biggest commercial trade item. Soon comes the RMB-based contract for crude oil, traded in Shanghai. It will surely cause big waves, a major disruptive event.

    NEW SCHEISS DOLLAR & GOLD TRADE STANDARD
    In time, expect an eventual refusal by Eastern producing nations to accept USTreasury Bills in payment for trade. The United States Govt cannot continue on numerous glaring fronts of gross negligence and major violations. These violations have prompted the BRICS & Alliance nations to hasten their development of diverse non-USD platforms toward the goal of displacing the USDollar while at the same time to take steps toward the return of the Gold Standard.


    The New Scheiss Dollar will arrive in order to assure continued import supply to the USEconomy. It will be given a 30% devaluation out of the gate, then many more devaluations of similar variety. The New Dollar will fail all foreign and Eastern scrutiny. The USGovt will be forced to react to USTBill rejection at the ports.

    The US must accommodate with the New Scheiss Dollar in order to assure import supply, and to alleviate the many stalemates to come. The United States finds itself on the slippery slope that leads to the Third World, a Jackass forecast that has been presented since Lehman fell (better described as killed by JPM and GSax). The only apparent alternative is for the United States Govt to lease a large amount of gold bullion (like 10,000 tons) from China in order to properly launch a gold-backed currency. Doing so would open the gates for a generation of commercial colonization, but actual progress in returning capitalism to the United States.


    Any new currency, even with gold backing, would be subjected to a series of devaluations due to the enormous trade deficit. The result would be heavy powerful painful price inflation from the import front. The effect would be to reverse a generation of exported inflation by the United States. The entire USEconomy would go into a downward spiral with higher prices, supply shortages, and social disorder.

    However, the rising prices would come from the currency crisis, and not so much from the hyper monetary inflation. That flood of $trillions has been effectively firewalled off. During the crisis that comes, the gold price will find its true proper value between $5000 and $10,000 per ounce.

    Then later, it goes higher, as it seeks equilibrium in a new world where gold serves as the global arbiter in trade and banking and currencies.

    read more.

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February 18, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Comments Off on Jim Willie: The Gold Standard Is Emerging!

South Korea is the Newest Country Seeking to Eliminate Cash And Wants to Do So by 2020

https://www.bloomberg.com/view/articles/2016-09-01/want-a-free-market-abolish-cash

Click on image for article.

  • South Korea is the Newest Country Seeking to Eliminate Cash And Wants to Do So by 2020
    by http://www.thedailyeconomist.com/
    First it was Sweden, who’s people are so intoxicated by technology that it was not very difficult to get them to give up their cash to run on an entirely electronic financial system.  Then in November India decided to jump on the Cashless Society bandwagon, only unlike their counterparts living in the Northern part of Europe, their citizens are the exact opposite and do not trust their government or banking system to take away physical cash from the economy.

    Thus when it comes to creating a world without physical money it is on par with how half the world is content to be as sheep and follow the globalists desire to control every aspect of their spending, saving, and investing, while the other half is infused with the frequency of Populism, and realize that without the ability to control your own money in a physical form, then nearly all freedoms are permanently lost to the whims of elected and un-elected officials.

    As we are now well into the first quarter of 2017, and living in the aftermath of Brexit and the election of Donald Trump, the battle is on for the establishment to hold onto the status quo, while at the same time fighting a populist movement that seeks to tear down their power base built upon a foundation of debt, credit, and privately owned central banks.  And at the fore are two more major economies push strongly towards a cashless monetary system.

    And those two entities are the European Union, and South Korea.

    read more.
http://www.armstrongeconomics.com/archives/30862

Click on image for article.

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February 17, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Comments Off on South Korea is the Newest Country Seeking to Eliminate Cash And Wants to Do So by 2020

William Engdahl: Washington’s Dangerous War On Cash — What It’s Really About

  • Washington’s Dangerous War On Cash: What It’s Really About
    by http://www.gunsandbutter.org/
    * India withdraws 86% of the value of all currency in circulation;
    * USAID; Project Catalyst;
    * Global Innovation Exchange;
    * Better Than Cash Alliance;
    * Bill and Melinda Gates Foundation;
    * UNICEF; UN Development Program;
    * Mitre Corporation;
    * the Foreign Account Tax Compliance Act (FACTA);
    * Organization for Economic Cooperation and Development (OECD);
    * the larger global agenda of total control;
    * ECB set up to favor Germany;
    * Trade Czar Peter Navarro;
    * US currency war aimed at destroying the Euro;
    * US planned destruction of the Eurozone;
    * glyphosate;
    * fascism of EU bureaucracy in Brussels;
    * assassination of Chairman of Deutsche Bank, Alfred Herrhausen;
    * US emerging as the biggest tax haven in the world.
http://norberthaering.de/en/home/27-german/news/745-washington-s-role-in-india#weiterlesen

Click on image for article.

https://www.weforum.org/agenda/2017/01/the-us-should-get-rid-of-cash-and-become-a-digital-economy-says-this-nobel-laureate-economist

‘666’ rapidly approaching! Click on image for article.

http://www.infowars.com/federal-reserve-manufactures-greater-recession/

Click on image for article.

http://www.thenewamerican.com/tech/item/18619-establishment-pushing-cashless-society-to-control-humanity

Click on image for article.

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February 16, 2017 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , , , , , , , , | Comments Off on William Engdahl: Washington’s Dangerous War On Cash — What It’s Really About