Socio-Economics History Blog

Socio-Economics & History Commentary

Jim Willie: Death of the Dollar

  • INTERVIEW WITH KATHY RUBIO
    Sept 8th:  topics covered include the various ways in the which the USDollar shows strong signs of losing its global reserve currency status, as well as several of the Biblical Seven Bowls of ruinous contamination poured upon our planet Earth….. (hint: skip the first 4 minutes as opener)

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September 13, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Dollar Decline, the Rise of China’s Gold Yuan + 5 Levels of Preparedness | Jerry Robinson

  • CRITICAL PREPARATIONS for Rise of Gold-Backed Chinese Yuan and Fall of US Dollar
    by http://www.silverdoctors.com/
    Jerry Robinson shares critical areas of preparedness that all Americans should engage in right now as the world ditches the US dollar. Sure, there may be plenty of toilet paper available, but from the most basic preps to financial readiness, Jerry has it covered…

    Jerry Robinson interviewed on Reluctant Preppers
    The subject of much resistance, even in the alternative media, the upcoming global embracing of the Chinese yuan-traded oil contract, convertible to gold on the Chinese gold exchanges, will have serious implications for people holding and using the US dollar.

    As Western and Eastern United States find out, some the hard way, that the only real time to prepare is before disaster strikes, the coming dollar collapse will have deep and lasting effects on everybody. It will be a financial disaster like no other.

    In this robust interview, Jerry and Dunagun discuss what actions every person should take right now to prepare for the inevitable. It may seem like there is still time, until all of the sudden there isn’t.

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September 13, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , | Leave a comment

The Petro-Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency — James Rickards

  • Money Master Published on Sep 10, 2017
    The Petro Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency

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September 13, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Warning: Bitcoin to Collapse | Alasdair MacLeod

  • FinanceAndLiberty.com Published on Sep 11, 2017
    Bitcoin is not money and never will be, says London Analysts Alasdair MacLeod. MacLeod explains why cryptocurrencies are a bubble. Either the bubble will collapse by itself or governments will destroy cryptocurrencies. But the general public hasn’t yet jumped on the cryptocurrency bandwagon. “When the ordinary man in the street starts playing, you know it’s time to get out,” he says. As for governments putting a stop to cryptocurrencies, MacLeod says it’ll be years before there’s an international agreement on such a matter.

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September 13, 2017 Posted by | Economics | , , , , , , , , , , , | Leave a comment

The Petro-Dollar is Close to Its End

  • The Petro-Dollar is Close to Its End
    by Finian Cunningham, http://tapnewswire.com/, 8 July 2017
    China and Russia have already ditched the US dollar in their vast energy trade. Now China is leveraging Saudi Arabia to also abandon the greenback for oil sales. No wonder, it seems, that US policies are increasingly lashing out.

    US global power depends on its presumed economic prowess and military force. With its economy in long-term decline, precipitated by the teetering dollar, the US rulers are relying increasingly on militarism to project power. That tendency is pushing the world to war.

    The challenge is to somehow steer the American military monster into a safe berth without eliciting a world war.

    The US decline is of historic proportions – on par with the demise of other past empires – and it stems from the looming collapse of the petrodollar system, which has given the US unprecedented privileges over the past decades since the Second World War.

    It is no coincidence that a surge in global tensions over recent years comes at a time when the American economy is staring into an abyss. The key to the survival of the US economy as we know it is the status of the American dollar as the world’s top reserve currency.

    The so-called petrodollar system, in which the world’s most traded commodity oil and gas are conducted primarily through American currency, appears to be coming to an end. That decades-old system is being challenged by the rise of China, Russia, India, Iran and others. If the petrodollar and its global privileges are displaced then the United States is facing an economic apocalypse.

    It should be said that there is nothing illegitimate about challenging this American unipolar dominance. Why should countries be forced to conduct their international trade primarily with the US dollar owing simply to historical circumstances during the 1970s that gave rise to the petrodollar system? That system works, in effect, like a global tax that the US imposes on all other nations because they are compelled to purchase American-printed banknotes.

    Perhaps no two other countries have done more to forge a multipolar global order than China and Russia. China is the biggest oil importer and Russia is the world’s biggest fuel exporter. When they announced last year that oil trade would be henceforth conducted in their own national currencies of yuan and rouble that development marked a nail in the dollar’s coffin.

    Now, only a few weeks ago, China and Saudi Arabia – the world’s second-biggest oil producer – reportedlylaunched earnest negotiations for future energy fuel trade to be conducted in yuan. Commentators say Saudi Arabia has little choice in the matter, since China has been progressively reducing the kingdom’s market share with other oil exporters, like Russia and Iran. If the Saudis want to maintain exports to the world’s biggest economy, then they will have to do their business in Chinese currency, not the US dollar as they have customarily done.

    Randy Martin, an American political analyst, said the long-anticipated decline in the petrodollar is picking up pace.

    “The petrodollar is in decline, and consequently the entire financial system that undergirds the western economies,” Martin said. “China and Russia have laid the global economic foundation for the new ‘Silk Road’ and the emergence of a new Eurasian economy that puts the US and its petrodollar on the outside. That leaves the US dollar and its economy in tatters as long as the US insists on trying to maintain its unipolar quest for global economic dominance. To be clear, what China and Russia have successfully done is to unravel the economic foundation of US global hegemony.”

    read more.

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September 13, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | Leave a comment

Dear President Trump: America is in for a Rude Awakening in January

  • Dear President Trump: America is in for a Rude Awakening in January
    by , https://dailyreckoning.com/
    Dear President Trump,

    Over the last couple of years I’ve been all over TV… from Fox News to CNBC, CNN and Bloomberg. I’ve been telling our fellow Americans that the financial global elite was planning to issue their own globalist currency called special drawing rights, or SDRs.

    And that those elites would use this new currency to replace the U.S. dollar as the global reserve currency. I’ve even written about this extensively in my best-selling books The Road to Ruin and The New Case for Gold.

    I’m sure some people in the mainstream media thought I was out of line — but the United Nations and the International Monetary Fund (IMF) have both confirmed this plan to replace the U.S. dollar is real. I’ve made this warning many times, but it seems to be falling on deaf ears. That’s why I’m writing directly to you.

    Here’s the proof that the U.S. dollar is under attack, right in front of our eyes:

    The UN said we need “a new global reserve system… that no longer relies on the United States dollar as the single major reserve currency.”

    And the IMF admitted they want to make “the special drawing right (SDR) the principal reserve asset in the [International Monetary System].”

    More recently, the IMF advanced their plan by helping private institutions, such as the UK’s Standard Chartered Bank, issue bonds in SDRs.

    Although our mainstream media ignored this major event, the UK media reported:

    read more.

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September 12, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

De-Dollarization Continues As More Countries Separate Themselves From The Dollar

  • X22Report Published on Sep 9, 2017
    American’s had to borrow big in July.  Wholesale inventories jumped to the highest since the November slide. Atlanta Fed is now reporting a 3.0 GDP number, completely manipulated. War on cash in India completely backfires the economy is falling apart. Venezuela pushes the agenda of bypassing the dollar and using other currencies. Iran, South Korea sign banking cooperation to bypass the dollar. More countries are moving to other currencies to protect themselves from the collapsing dollar.

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September 11, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Lynette Zang: China Attacking USD – New Reserve Currency In Sight

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

Click on image for article.

September 11, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Putin Reveals ‘Fair Multipolar World’ Concept in which Oil Contracts Could Bypass the US Dollar and be Traded with Oil, Yuan and Gold

  • Putin Reveals ‘Fair Multipolar World’ Concept in which Oil Contracts Could Bypass the US Dollar and be Traded with Oil, Yuan and Gold
    by PEPE ESCOBAR, http://www.atimes.com/
    The real BRICS bombshell
    The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context.

    Once again, it’s essential to keep in mind that the current core of BRICS is “RC”; the Russia-China strategic partnership. So in the Korean peninsula chessboard, RC context – with both nations sharing borders with the DPRK – is primordial.

    Meet the oil/yuan/gold triad
    It’s when President Putin starts talking that the BRICS reveal their true bombshell. Geopolitically and geo-economically, Putin’s emphasis is on a “fair multipolar world”, and “against protectionism and new barriers in global trade.” The message is straight to the point.

    The Syria game-changer – where Beijing silently but firmly supported Moscow – had to be evoked; “It was largely thanks to the efforts of Russia and other concerned countries that conditions have been created to improve the situation in Syria.”

    On the Korean peninsula, it’s clear how RC think in unison; “The situation is balancing on the brink of a large-scale conflict.” Putin’s judgment is as scathing as the – RC-proposed – possible solution is sound; “Putting pressure on Pyongyang to stop its nuclear missile program is misguided and futile. The region’s problems should only be settled through a direct dialogue of all the parties concerned without any preconditions.”

    Putin’s – and Xi’s – concept of multilateral order is clearly visible in the wide-ranging Xiamen Declaration, which proposes an “Afghan-led and Afghan-owned” peace and national reconciliation process, “including the Moscow Format of consultations” and the “Heart of Asia-Istanbul process”.

    That’s code for an all-Asian (and not Western) Afghan solution brokered by the Shanghai Cooperation Organization (SCO), led by RC, and of which Afghanistan is an observer and future full member.

    And then, Putin delivers the clincher; “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies.”

    “To overcome the excessive domination of the limited number of reserve currencies” is the politest way of stating what the BRICS have been discussing for years now; how to bypass the US dollar, as well as the petrodollar. Beijing is ready to step up the game. Soon China will launch a crude oil futures contract priced in yuan and convertible into gold.

    This means that Russia – as well as Iran, the other key node of Eurasia integration – may bypass US sanctions by trading energy in their own currencies, or in yuan. Inbuilt in the move is a true Chinese win-win; the yuan will be fully convertible into gold on both the Shanghai and Hong Kong exchanges.

    The new triad of oil, yuan and gold is actually a win-win-win. No problem at all if energy providers prefer to be paid in physical gold instead of yuan. The key message is the US dollar being bypassed.

    RC – via the Russian Central Bank and the People’s Bank of China – have been developing ruble-yuan swaps for quite a while now.

    read more.

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September 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | 1 Comment

Jim Rickards: The North Korean Endgame is Playing Out Now

  • Jim Rickards: The North Korean Endgame is Playing Out Now
    by https://dailyreckoning.com/
    As mounting tensions rise from the latest round of nuclear testing out of North Korea, Jim Rickards believes a considerable window is closing by the United States. The threat of a nuclear armed and capable North Korea is a line that the currency wars expert and macro analyst believes the United States will now allow to be crossed. Speaking on CNBC’s Capital Connection Rickards offered his latest critique of the restrictions and response by the international community on North Korea.

    The interview began with a question what an oil embargo would mean for North Korea and how it would impact that country. Rickards blasts, “North Korea has already beaten the world to the punch. They’ve been building up their strategic oil reserves. What that means is they have an estimated year’s worth of held in reserve and China has played a role in these things in the past.”

    “The area that would be effective for a reactionary measure would be for the United States to exclude the People’s Bank of China, the Industrial and Commercial Bank of China and some of the other major Chinese banks from within the U.S dollar payment systems. The U.S could completely shut down the U.S operations.”

    read more.

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September 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

China’s New World Order: Gold-Backed Oil Benchmark on the Way

  • corbettreport Published on Sep 5, 2017
    SHOW NOTES: https://www.corbettreport.com/?p=23932 China has announced a “new world order” for world oil markets that could have profound effects on the global economy and the monetary order itself. But as The Shanghai International Energy Exchange gears up for operation, it’s important to note yet again that this is another engineered conflict with the pre-determined death of the dollar system being used to bring in the new multipolar world order that the NWO has been openly working toward for decades.

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September 7, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

China Begins To Reset The World’s Reserve Currency System

Get the message: Gold backed Chinese Yuan / RMB.

  • China Begins To Reset The World’s Reserve Currency System
    by Dave Kranzler, http://investmentresearchdynamics.com/
    It’s a strategic move swapping oil for gold, rather than for U.S. Treasuries, which can be printed out of thin air.  – Grant Williams

    A report released by the Nikkei Asian Review indicates that China is prepared to release a yuan-denominated oil futures contract that is convertible (backed by) physical gold.  The contract will enable China’s largest oil suppliers to settle  oil sales in yuan, rather than in dollars, and then convert the yuan into gold on exchanges in Hong Kong and Shanghai.

    This is a significant step in removing the global reserve currency status of the dollar and resetting the the global economic and geopolitical “landscape.”  Over the past several years, China has quietly established yuan-based currency exchange facilities, which has set up the ability to implement this new non-dollar trade settlement financial instrument. According to the Brookings Institute, 34 Central Banks around the world have signed bilateral local currency swap agreements with the PBoC as of of the end of September 2016, including the major oil-producing countries.  With this new contract, China’s largest oil suppliers will now be able to transact directly with China, and other oil importing countries, using yuan which are directly convertible into gold to settle the trade.

    As Alasdair Macleod asserts, “It is a mechanism which is likely to appeal to oil producers that prefer to avoid using dollars, and are not ready to accept that being paid in yuan for oil sales to China is a good idea either.”

    Since 1973, OPEC oil has been quoted and traded using to U.S. dollars, otherwise known as “petrodollars.”  The “recycling” of petrodollars into U.S. Treasuries has been the life-blood of the U.S. economic and political system.  In addition to reducing a major source of funding for the the U.S. Government’s enormous deficit spending, the introduction of a gold-backed yuan oil futures contract is an important step toward removing the dollar as the world’s reserve currency. More significantly it reintroduces gold into the global monetary system.

    While the new gold-backed “petroyuan” will allow oil producers to sell oil for gold rather than Treasuries. Furthermore, it reduces the ability of the U.S. Government to impose its will on the rest of the world.  
    It’s a strategic step toward not only ridding the world of its dependence on dollars, but also of reducing the ability of the U.S. to exert global economic and financially tyranny.   I would also argue that it’s one of the primary reasons behind the inability of the western Central Banks to drive the price of gold lower recently.

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September 6, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

De-Dollarization Begins, China Readies Yuan Base Crude Oil

  • X22Report Published on Sep 4, 2017
    Countries are now starting to make laws to control cryptocurrencies like Bitcoin. The everyday American cannot afford to live and cannot live the American dream.  China is now pushing the agenda to de-dollarize. China will be backing crude oil using the yuan that will also be backed by gold. The western financial system is now moving to the east. The central bankers have completed the setup and is now getting ready to switch over.
  • X22Report Published on Sep 5, 2017
    Leaked BREXIT document shows the UK establishing new rules on immigration. We are now seeing signs that gold is getting ready to break out. Lego is now laying off 1500 people. Factory orders implode and the economy continues to deteriorate. Latest NAFTA negotiations are not going well, all sides have not come to any agreements. The BRICS are now allowing more countries to join and they are establishing a rail system for the belt & road.

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September 6, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Leave a comment

Your Pension, IRA, 401K – They’re All At Risk! | Lynette Zang

  • FinanceAndLiberty.com Published on Sep 3, 2017
    Lynette Zang explains why your assets could be at risk of falling into a financial black hole. She says, “If you don’t hold it, you don’t own it.”

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September 5, 2017 Posted by | Economics, Social Trends | , , , , , , , , , , , , | Leave a comment

Bill Holter: Ending Will Be Financial Collapse Where Credit Stops

  • Bill Holter: Ending Will Be Financial Collapse Where Credit Stops
    by Greg Hunter’s USAWatchdog.com (Early Sunday Release)
    Financial writer Bill Holter says 2017 is the year of the “truth bombs,” and along with the truth comes pain. Holter explains, “Unfortunately, the truth coming out will mean a crashed system.  It will mean a nonfunctioning system.  When truth finally comes out, and it will one way or the other, credit will cease because credit is based on trust.  Credit is handed out on trust, and when the truth comes out, credit will cease.  Then the system is going to have to reboot.”

    What will our world look like when credit has stopped? Holter says, “Basically, with a credit seizure, that means distribution breaks down.  If you have seen any pictures of any of the Walmarts and grocery stores in Houston, the shelves are empty.  I live outside of Houston, and all the bread is made there, and there is no bread.  Now, forget about a flood, and imagine that there is no credit.  Without credit, nothing gets done.  Farmers can’t plant.  Farmers can’t harvest.  They can’t ship it to the silo.  The grain can’t be manufactured into bread, and once it’s bread, it can’t get shipped to the final destination because every one of those operations involves credit.  So, when credit stops, you are basically going to see a seizure of all goods making it to markets.”

    What other truth bombs are on Holter’s truth bomb list to be revealed? Holter says, “The biggest truth bomb I’d like to see come out would be to get to the bottom of the human trafficking and the pedophilia.  I would just like to save the children that are being molested.  I am basically 100% convinced that this is one of the biggest problems.  Other truth bombs would include the news services.  You have outlet after outlet throwing crap against the wall, and they all throw crap against the wall hoping some of it will stick.  None of it makes sense, and they are the ones that came up with the term ‘fake news’ when somebody tells the truth.  What they are doing is trying to brainwash the public.”

    read more.

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September 4, 2017 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , | Leave a comment