Socio-Economics History Blog

Socio-Economics & History Commentary

Greece to Default on IMF in May, June if No Deal Reached !

The Illuminists are lining up the pieces for a catastrophic global collapse!

The Illuminists are lining up the pieces for a catastrophic global collapse!

  • Greece to Default on IMF in May, June if No Deal Reached !
    by Mike Shedlock, http://globaleconomicanalysis.blogspot.com/
    Greece is threatening to withhold payments to the IMF in May and June. This time it does not sound like a bluff. And if it’s not a bluff, we will finally know precisely when midnight occurs.

    The Financial Times reports Greece prepares for Debt Default if Talks with Creditors Fail.

    Greece is preparing to take the dramatic step of declaring a debt default unless it can reach a deal with its international creditors by the end of April, according to people briefed on the radical leftist government’s thinking.

    The government, which is rapidly running out of funds to pay public sector salaries and state pensions, has decided to withhold €2.5bn of payments due to the International Monetary Fund in May and June if no agreement is struck, they said.

    “We have come to the end of the road . . . If the Europeans won’t release bailout cash, there is no alternative [to a default],” one government official said.

    Default is a prospect for which other European governments, irritated at what they see as the unprofessional negotiating tactics and confrontational rhetoric of the Greek government, have also begun to make contingency plans.

    In the short term, a default would almost certainly lead to the suspension of emergency European Central Bank liquidity assistance for the Greek financial sector, the closure of Greek banks, capital controls and wider economic instability.

    read more!

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April 14, 2015 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

“There Will Be a More Volatile Crisis”: JPMorgan Chief Signals Coming Financial Tsunami!

Global financial tsunami coming??!

Global financial tsunami coming??!

  • Serpents warning about a coming financial tsunami they are engineering. A Satanic cabal rules this world. Wall Street is a financial operation of the Synagogue of Satan. Got physical gold yet?
  • “There Will Be a More Volatile Crisis”: JPMorgan Chief Signals Coming Financial Tsunami!
    by Mac Slavo, SHTFplan.com  
    Earth shaking words from a giant on Wall Street.
    The insiders know the next collapse is coming. What form it takes may remain a surprise to account holders and investors who are not on guard.

    But JPMorgan Chase chairman and CEO Jamie Dimon is positioning his firm to pick up the pieces after it hits. A loud warning from a person who may be considered a de facto spokesman for the insiders who prevail on Wall Street, Dimon’s comments are more than just precautionary and foreboding – they spell out the mechanism with which the big banks and the technocratic controllers will seize and concentrate power during the next crisis.

    Problem-reaction-solution… and the new rules of the game.

    Another crisis event is coming in the financial markets. That much is clear. How bad it will be depends upon how well you withstand the new rules of engagement.

    Dimon writes in his April 8, 2015 shareholder letter:

    Some things never change — there will be another crisis, and its impact will be felt by the financial market.

    The trigger to the next crisis will not be the same as the trigger to the last one – but there will be another crisis. Triggering events could be geopolitical (the 1973 Middle East crisis), a recession where the Fed rapidly increases interest rates (the 1980-1982 recession), a commodities price collapse (oil in the late 1980s), the commercial real estate crisis (in the early 1990s), the Asian crisis (in 1997), so-called “bubbles” (the 2000 Internet bubble and the 2008 mortgage/housing bubble), etc.
    While the past crises had different roots (you could spend a lot of time arguing the degree to which geopolitical, economic or purely financial factors caused each crisis), they generally had a strong effect across the financial markets


    read more!

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April 14, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Leave a comment

China Trade Surplus Crashes As Exports & Imports Collapse In March!

As Exports crash and Imports continues to slide for the 5th month... Source: www.zerohedge.com

As Exports crash and Imports continues to slide for the 5th month… Source: http://www.zerohedge.com

  • World economy is in BIG trouble. Don’t let the lying MSM tell you otherwise.
  • China Trade Surplus Crashes As Exports & Imports Collapse In March!
    by Tyler Durden, http://www.zerohedge.com  
    Forget the weather, it must be the smog. China just announced total carnage in its trade data for March:

    * CHINA’S MARCH IMPORTS FALL 12.3% Y/Y IN YUAN TERMS; EST. -11.3%
    * CHINA’S MARCH EXPORTS FALL 14.6% Y/Y IN YUAN TERMS; EST. +8.2%
    * CHINA’S MARCH TRADE SURPLUS 18.16 BILLION YUAN; EST 250B YUAN

    So what exactly was the Chinese stock market ‘discounting’?
    Trade Surplus collapses… (economists knew about year-end and forecast +250bn!!!)
    ….
    In US Dollars the picture is worse… 


    * CHINA’S MARCH EXPORTS FALL 15.0% FROM YEAR EARLIER
    * CHINA’S MARCH IMPORTS FALL 12.7% FROM YEAR EARLIER
    * CHINA’S MARCH TRADE SURPLUS $3.08 BILLION

    read more!

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April 13, 2015 Posted by | Economics | , , , , | Leave a comment

Martin Armstrong: Big Losses Coming in the Bond Market!

  • Published on Apr 12, 2015
    Renowned financial analyst Martin Armstrong says you can forget about the U.S. dollar crashing in value. Armstrong contends, “No, that’s absurd. The euro is in terrible shape. The yen is in terrible shape, and honestly, you can’t park money in yuan or Russian rubles, yet. I mean, let’s be realistic here, but eventually–yes.”


    Armstrong says the bond market is a different story as the Fed is going to be forced to raise rates. He contends just a few percentage points in rising rates are going to cause big losses and big changes. Armstrong predicts, “People will be losing huge money. We are looking at a few percentage points, and you are going to blow the national debts of all these countries way out of whack, and that’s what’s going to force political change.”

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April 13, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

U.S. Economic Recovery Illusion Is Falling Apart!

  • Published on Apr 11, 2015
    Greece has six days to present their proposals for the next payment. Italy wants to leave the Euro zone. Malls are closing down. Real estate recovery is a hoax. The White House warns states to be prepared for the next collapse. Protesters use holograms to protest the gag law. German businesses angry because they are losing billions because of the Russian sanctions. NATO getting ready the Russian Rapid Force by having drills. US not evacuating US citizens in Yemen. FBI sets up another fake IS sting.

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April 13, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Central Bank Gold Buying Soars To Near A 50-Year High!

Remember the Golden Rule: He who has the gold makes the rules! Got physical gold yet?

Remember the Golden Rule: He who has the gold makes the rules! Got physical gold yet?

  • For a global economic, financial and currency reset to be successful, you need to deal with the problem of overwhelming debt. How do you resolve the debt problem in countries around the world, ranging from 100% – 500% of GDP (public debt) in the industrialized world?
  • The simple answer is GOLD. Gold is the perfect debt extinguisher. If a government owes US$100B in public debt and has US$10B in physical gold at current price (US$1200/oz), a simple revaluation of gold price by 10X (ie. to US$12,000/oz) will make the country totally solvent! Ie. their physical gold holding will be worth US$100B overnight.
  • Central banks around the world are buying physical gold in anticipation of this global reset which is coming soon! It is not a question of whether but when.
  • Central Bank Gold Buying Soars To Near A 50-Year High!
    by Vronsky, http://www.gold-eagle.com/  
    During 2014 country Central Banks bought 477 tonnes…close to a 50-year high…and that’s equivalent enough to buy 75 Boeing Dreamliners planes. This is at once astounding as well as revealing vis-à-vis a slowly dropping gold price since late 2011.   

    Russia was by far the largest buyer. Its purchases made up a staggering 36% of total Central Bank buying. In total, Central Banks bought 477 tonnes of the precious metal last year of which 173 tonnes flowed into Russia, according to a report from the World Gold Council.

    Emerging market Central Banks in general have also had a strong appetite for gold in recent years. “They don’t have the legacy of the gold standard, so they are looking to add to their gold reserves,” explained World Gold Council’s Bhatia. “Big buyers over the last decade? China has added, India, Thailand, Mexico, Kazakhstan,” he said.

    Looking ahead what can we expect to see from Central Banks in terms of gold purchases? Most likely more of the same. “We expect Central Banks to be consistent buyers of gold. We are looking at steady as she goes. We expect Russia to continue to buy gold — and we don’t expect major sales from anyone,” concluded CPM Group’s Christian.  (Source: KitcoNews)

    read more!

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April 13, 2015 Posted by | Economics | , , , , , , , | Leave a comment

Iran Calls Obama Liar, Yemen War Intensifies, Economy Dives Again …

  • Published on Apr 9, 2015
    The Ayatollah Khamenei of Iran has weighed in on the Nuke deal, along with his subordinates, and has said that the White House and the President are liars. There is going to be no inspections of their military facilities, and they are not going to stop enriching uranium. Also, the President said the sanctions would be lifted gradually as the Iranians complied with the deal, and Iran now says they demand sanctions be lifted at the signing of the deal; otherwise, there is NO DEAL. They had me at “liar.”


    Iran is now reportedly sending warships to the Yemen coast. Egypt is also sending warships and troops. Egypt and the rest of the world has much to lose if the Strait of Mandeb is shut down by either war or terror. If the Mandeb Strait is closed, that means the Suez Canal will not produce revenue to Egypt, and things like oil shipments will stop and be forced to go around Africa to get to Europe.

    The economy showed yet another sign that it is in trouble. Wholesale sales have plunged and are joining the declining factory orders. The March Fed minutes were released, and the Fed is reportedly split on raising interest rates. My friend Gregory Mannarino of TradersChoice.net called me and said the Fed has turned into a “circus.” Mannarino contends the Fed knows that if it raises interest rates, the economy gets killed. I agree.

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April 11, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Willie: The Fall of the House of Saud and Germany’s Conflicted Move to Eurasia!

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April 11, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Unraveling at the Seams: EU on Verge of Collapse!

Eurozone collapse is coming!

Eurozone collapse is coming!

  • Unraveling at the Seams: EU on Verge of Collapse!
    by http://sputniknews.com/  
    Everyone in the EU is worried about the economy and financial situation, forgetting about the importance of geopolitics, and that could be the downfall of the union, according to French journalist Coralie Delaume.
    – 
    Greece’s exit from the European Union (EU) and its rapprochement with Russia would have serious geopolitical implications for Europe, French journalist Coralie Delaume said in an interview with Le Figaro.

    The Eurozone is getting weaker every day, said Delaume, adding that Greece’s withdrawal from the monetary union is highly probable, especially after Greece’s intention to introduce a “dual currency.” The so-called “Greek euro”, a currency that would be used in Greece only, would be in fact another step towards leaving the European monetary union.

    As Greece failed to find support in Europe, Tsipras hopes to get closer to Russia, especially considering that the two countries have a longstanding relationship.

    At this point in time, everyone in Europe is worried about the economy and financial situation, forgetting about the importance of geopolitics.

    “Everyone seems to be convinced that geopolitics is a residue of the 19th Century and that we now live in the era of economics and accounting… Europe has become a political black hole!” Delaume told Le Figaro.

    Meanwhile, Moscow is building political relationships with Greece, Turkey and Cyprus. Soon, the Russian navy will be allowed to enter the waters near Cyprus. Europeans are foolish enough to allow Russia to gain support in the Mediterranean region. From an economic and political standpoint, the EU is on the verge of collapse, Delaume said, as cited by the French daily.

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April 11, 2015 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Jeff Nielson: There is No Horror That Cannot Occur Once Economic Order Collapses!

  • Published on Apr 10, 2015
    by http://www.sgtreport.com/
    “There is no horror that cannot occur in human society, once economic order collapses,” so says Jeff Nielson from Bullion Bulls Canada.com. As the world prepares for economic life after the Dollar, Jeff and I examine the quantifiable data that proves Americans are living on borrowed time. There is absolutely no way the US Dollar can survive the mounting tsunami of debt accumulated by government spending that has been out of control for decades. As the world prepares for the day of reckoning, most Americans are blissfully unaware of what’s coming. Join us as we examine the REALITY of the global economic situation, as we document the collapse for April, 2015.


    Jeff’s site:
    http://www.bullionbullscanada.com/

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April 11, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , | Leave a comment

The Most Crucial Gold Questions Left …. Will Soon be Answered !

April 10, 2015 Posted by | Economics | , , , , , , , , , , , | 3 Comments

Jim Willie: Global Paradigm Shift Toward Eastern Power Centers!

Click on image to download MP3 interview!

Click on image to download MP3 interview!

  • Jim Willie: Global Paradigm Shift Toward Eastern Power Centers!
    by http://goldenjackass.com/main5.html  
    INTERVIEW WITH RICK WILES ON TRU-NEWS  
    April 8th: topics covered the personal psychological obstacles on accepting systemic breakdown, progress on the Global Paradigm Shift toward Eastern power centers, rise and replacement for the USDollar as floating gaseous corpse, financial insolvency of major Western banks, the ruse of bank bail-ins and real Cyprus story, the pension fund wreckage, the parade of nations behind the Chinese-led Asian Infrastructure Investment Bank with consequences, the BRICS Parliament and SCO counter balance force to NATO, the new Chinese alternative banking transaction system to compete with SWIFT, the real activity of Russian President Putin during those ten days last month, the upcoming new military bases in Nicaragua and Cuba.

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April 10, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments

The U.S. Government Is Preparing For The Economic Collapse And War! The U.S. Govt/Central Bankers Have Pushed The Middle East War To The Next Level !

  • Published on Apr 9, 2015
    Greece pays the IMF. Greece make a deal with Russia and reconfirms the gas pipeline. Initial claims did not count the layoffs from Texas. Austria implements bail-ins. Russia asking many countries to deal in their national currencies. Kiev starts information war with DPR. US Government reactivating Cheyenne Mountain and put aside 700 million to bring it up to date. Red Cross having a problem getting aid the Yemen people. FBI warns people about IS attacking WordPress sites but does not give advice on how to protect.
  • Published on Apr 8, 2015
    Greek government met with Russia to discuss the debt problems. Greece did not ask for Russia’s financial assistance. German factory orders decline. Bank Bail-ins are coming to the US and Europe. FED reports the economy is strong and will grow, remember 2008, we are not forecasting a recession. US captured phone called prior to 911. US as the ability to shutdown cell service during the civil disobedience. US aircraft arrives off the coast of Yemen, Iran’s destroyer arrives off the coast of Yemen. War is being pushed in the Middle East and it is now going to the next level. More propaganda about Russian hackers cyber attacking the White House.

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April 10, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

James Turk: We’re Going to Step On a Mine Before End of 2015!

  • James Turk: We’re Going to Step On a Mine Before End of 2015! 
    by Greg Hunter’s USAWatchdog.com
    Renowned Precious metals expert James Turk thinks this fall is going to be trouble for the U.S. dollar.  Turk explains, “I think that is the time frame we should be looking for, and there are a couple of reasons for this.  Every five years, the International Monetary Fund recalculates the “Special Drawing Rights,” the SDR. . . The Chinese have been quite clear over the last five years that they want to be included in the SDR when the next rewriting comes, and the next recalculation is scheduled for September and October.  So, it’s quite possible that China doesn’t come away with what it thinks it deserves . . . it may move further away from western institutions and create other Asian institutions like the AIIB (Asian Infrastructure Investment Bank) and bring this to fruition much quicker than would be the case.  So, I would agree the September, October, November time frame is going to be critically important this year.  If the wrong moves are made by the U.S. government, I think the dollar could fall substantially. . . . I think we are going to step on a mine before the end of this year.”

    Turk goes on to say, “Remember that the dollar has only risen because people around the world perceive it as the best option of a lot of poor choices.  In other words, people are moving out of the euro, and moving out of other weak currencies, in an emotional kneejerk reaction into the dollar.  They are not moving into the dollar because of any fundamental strengths.  The problems of the U.S. are still quite severe, particularly the debt problem and government spending out of control.  Things tend to rise and things tend to fall, and I wouldn’t be surprised to get a big drop in the dollar before the end of the year.”

    read more!

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April 9, 2015 Posted by | Economics | , , , , , , , , , , , , , , , , | 1 Comment

Swiss Government Becomes First Ever To Issue 10Y Debt At A Negative Yield !

10Y_Swiss_Govt_Bond_Yield_at_Issuance-April2015

  • Swiss Government Becomes First Ever To Issue 10Y Debt At A Negative Yield!
    by Tyler Durden, http://www.zerohedge.com  
    It had to happen sooner or later… in the new normal of yield-reaching, collateral-shortage-ing, money-printing economalypse, the Swiss government has become the first ever to issue a 10Y sovereign bond at a negative yield. As WSJ notes, while several European countries have sold government debt at negative yields up to five years of maturity – which means investors effectively pay for the privilege of buying it – no other country has previously stretched this out as long as 10 years. Mission Accomplished Central Bankers?

    read more!

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April 8, 2015 Posted by | Economics | , , , | 1 Comment

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