Socio-Economics History Blog

Socio-Economics & History Commentary

Italy On The BRINK: ‘No’ Vote in Renzi’s Referendum Could Spark Euro Economic APOCALYPSE

http://www.express.co.uk/news/world/738883/Italy-constitutional-referendum-No-vote-banks-meltdown-Matteo-Renzi-eurozone

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December 2, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

During The Economic Reset People Are Going To Feel The Pain Of A Collapsing Economy: Andrew Hoffman

December 1, 2016 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

James Rickards | The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis

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!

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!

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

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http://www.thenewamerican.com/world-news/europe/item/8864-vatican-council-calls-for-world-government-central-bank

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http://americanfreepress.net/?p=1263

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Ron_Paul_Merger_of_ECB_FedRes_BOJ_WorldCentralBank

http://www.thenewamerican.com/world-news/item/13126-the-united-nations-on-the-brink-of-becoming-a-world-government

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Carroll_Quigley_Tragedy_n_Hope2

December 1, 2016 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , , , , , , , , , , | 1 Comment

The Future of the Eurozone Could Be Decided on December 4th in Austria And Italy

euro_logo_dynamite

  • The Future of the Eurozone Could Be Decided on December 4th in Austria And Italy 
    by Is this the most important time in the EU’s history? Italy and Austria take votes at the beginning of December that could destabilize or even end the euro and the EU itself.

    This is part of a destabilizing trend that we’ve long noted and anticipated, some 16 months ago with the destruction of the EU’s Schengen agreement that used to stand for free-travel throughout Europe. The two potential upheavals are the Italian referendum and the Austrian election, both of which are set to occur on the same day, December 4th.

    Not long ago, we mentioned how a collapse of the troubled Italian banking giant Banco Monte dei Paschi could prove to be problematic for the Italian economy and in turn, the entire Eurozone. There are also three other mid-sized Italian banks, Popolare di Vicenza, Veneto Banca and Carige, which are in varying levels of distress, but additionally pose direct threats to the Italian financial system.

    However, the precursor to bank failures In Italy is this upcoming constitutional referendum. The basis of this reform would lessen the number of Senate seats from 321 down to just 100 politicians. (Which, to be truthful, is still exactly 100 too many.)

    Another proposed change has to do with the way Senators are elected. The new proposition is to have the Senate members be made up of “regional councillors” who will not be salaried as most of the current Senators are.

    One more stipulation will allow the president to appoint five senators to serve for seven years each – in hopes of checking the power of the five current lifetime Senators. The outcome of this referendum is particularly significant because it is likely to be a deciding factor in whether or not the populist Five Star Movement gains yet more power.

    Stronger support for this party, which has vowed to carry out a new referendum for an “Italexit”, is certain to create a great deal more uncertainty in markets. International financiers are already sweaty palmed thinking about this disastrous prospect in light of the current prime murderer, Matteo Renzi’s threat to step down should the referendum fail.

    Those behind Renzi are not merely observing passively, however. The political establishment, according to the UK’s Financial Times, intends to modify election laws to make sure the Five Star Movement cannot gain power no matter the outcome of next Sunday’s referendum on constitutional reform.

    read more.

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December 1, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

Italy’s Referendum Will COLLAPSE EURO – Chilling Warning from Investor Who Forecast Brexit

http://www.express.co.uk/finance/city/737238/Italy-referendum-banks-finance-crisis-Matteo-Renzi-No-vote-warning

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  • Italy’s Referendum Will COLLAPSE EURO – Chilling Warning from Investor Who Forecast Brexit  
    by JON ROGERS, http://www.express.co.uk/
    AN INVESTOR who correctly predicted Britain would leave the European Union (EU) before the referendum has now forecasted the euro will collapse.

    Jim Mellon, the Chairman of the Burnbrae Group, has warned the currency will become a victim in the growing anti-establishment surge which will cause the EU to fracture – all within five years. He said: “Brexit is going to be a sideshow to the problems of Europe that are becoming more and more evident.  “The euro as it stands at the moment is just a very inappropriate mechanism — I give the euro between one and five years of life.”

    The UK’s recent Brexit vote, along with Donald Trump’s election as US President, has signalled a sea-change in global politics and populist movements around the world have gathered pace. Italy’s referendum vote at the weekend, as well as France’s presidential election next year, could also see upsets at the ballot box, giving currency traders cause for concern and initiating a run on the euro.

    read more.
http://www.dailymail.co.uk/news/article-3974306/Italy-poised-country-reject-establishment-shock-poll-finds-referendum-protest-vote-poised-beat-government.html

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http://www.express.co.uk/news/politics/736963/Italy-Matteo-Renzi-Italeave-EU-European-Union-Five-Star-Movement-Berlusconi-politics-Euro

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http://www.express.co.uk/news/world/731484/Italian-referendum-shockwaves-European-Union-financial-markets

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http://www.express.co.uk/news/world/691326/Italy-prime-minister-Matteo-Renzi-political-financial-break-down-Eurozone-European-Union

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December 1, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

REVEALED: Terrified ECB Has ‘Emergency Italian Rescue Plan’ Ahead of Referendum

Eurozone_Collapse

  • REVEALED: Terrified ECB Has ‘Emergency Italian Rescue Plan’ Ahead of Referendum  
    by LANA CLEMENTS, http://www.express.co.uk/
    THE European Central Bank (ECB) is ready to step in and rescue the Italian government, if the referendum goes against Prime Minister Matteo Renzi, according to insiders.

    Debt-laden Italy has seen its borrowing costs jump ahead of the vote, as investors worry the outcome could throw the economy into chaos. But, if Mr Renzi loses on Sunday, a dramatic sell-off in Italian debt – or so-called bonds – could be triggered, which could send costs for Rome spiralling out of control.

    If Italy can’t pay its debts, it faces bankruptcy and would have to turn to the Brussels for a bail-out. However, the ECB is set to to stabilise the government costs after the referendum, by snapping up billions of pounds worth of the bonds – helping to sustain market prices and costs – central bank sources have reportedly said.

    The eurozone central bank already hoovers up huge sums of government and corporate debt each month, as part of its money-printing programme designed to kick-start the economy. But the scheme could be used to temporarily increase the amount of Italian bonds bought, said the sources.

    The ECB could only fight against immediate market volatility, because the so-called asset-purchase programme is not supposed to be used to rescue individual countries facing a financial crisis. If Rome needed further help, it would need to formally ask the eurozone for help.

    read more.

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December 1, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Germany on a Knife Edge: Italian Referendum Sparks Panic Over Deustche Bank’s Future

breaking-get_ready_for_the_collapse_of_deutschebank

  • Germany on a Knife Edge: Italian Referendum Sparks Panic Over Deustche Bank’s Future 
    by LANA CLEMENTS, http://www.express.co.uk/
    DEUTSCHE Bank’s share price tumbled further during Tuesday trading, as fears escalated for the lender’s future ahead of Italy’s referendum on Sunday.

    Investors have dumped stock in Germany’s largest bank, taking its price down almost one per cent today, and by more than three per cent over the the last five trading sessions. Deutsche has already lost almost half its value this year, as markets fret over the bank’s weakness and a looming fine from US authorities.

    The troubled lender is now looking vulnerable to shocks set to rip through the eurozone if Italy’s Prime Minister loses a vote over Constitutional Reform on Sunday, said experts. It’s feared Italy’s banking sector could topple if leader Matteo Renzi is forced to resign.

    Contagion could then spread through to some of Europe’s most systematically important banks, such as Deutsche, which already look fragile, experts warned.
    As a result, the referendum has caused markets to question whether the German government would step in and save Deutsche, should it need help.

    Similar worries surfaced earlier this year, after comments from Angela Merkel confirmed she would not approve a state-backed rescue of banks. This year Deutsche has sold assets and axed jobs, as part of a huge cost-cutting programme aimed at shoring up its position. But investors are not convinced it is enough to stabilise the bank.

    read more.
http://www.express.co.uk/news/politics/736963/Italy-Matteo-Renzi-Italeave-EU-European-Union-Five-Star-Movement-Berlusconi-politics-Euro

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November 30, 2016 Posted by | Economics | , , , , , , , , | 1 Comment

Up To Eight Italian Banks May Fail If Renzi Loses Referendum

dansk_research_flowchart-italy_referendum_scenarios

  • Up To Eight Italian Banks May Fail If Renzi Loses Referendum
    by Tyler Durden, http://www.zerohedge.com 
    Just as we were concluding our write up on the return of Europe’s solvency crisis, facilitated by Donald Trump’s NATO funding demands and the end of the ECB’s unprecedented can kicking exercise, the FT reported that as many as eight of Italy’s troubled banks “risk failing” if prime minister Renzi loses next weekend’s constitutional referendum and ensuing market turbulence deters investors from recapitalizing them, citing senior bankers.

    This particular rather adverse outcome is captured by the lower-right, glowing red box in the Danske Research flowchart shown above.

    Renzi, who has previous said he will quit if he loses the referendum although has since changed his tune, has championed a market solution to solve the problems of Italy’s €4tn banking system and avoid a vote-losing “resolution” of Italian banks under new EU rules. A resolution restructures and, if necessary, winds up a bank by imposing losses on both equity and debt investors, particularly controversial in Italy, where millions of individual investors have bought bank bonds.

    The following chart from the ECB demonstrates why a bail-in of Italian banks would be the equivalent of political suicide: the vast majority of bail-inable Italian debt is held domestically, read savers and pensioners. Should they be impaired, it would lead to an overnight social crisis.

    read more.

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November 29, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Ticking Timebomb: Italy’s EIGHT Banks Will FALL if Renzi Loses Referendum… And DESTROY EU

http://www.express.co.uk/finance/city/737238/Italy-referendum-banks-finance-crisis-Matteo-Renzi-No-vote-warning

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November 29, 2016 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Fox News: America Facing Civil War

  • Published on Nov 28, 2016
    Alex Jones talks with former Navy SEAL Matt Bracken about whether or not he like Fox thinks America is on the brink of civil war.

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November 29, 2016 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , , , , , | Leave a comment

Jim Willie: Criss-Crossed Fuses And Lit Bonfire

dynamite-fuse-burning

  • Criss-Crossed Fuses And Lit Bonfire
    by Jim Willie, http://www.goldenjackass.com/ ,  via http://www.goldseek.com/
    Many are the potential fuses to be lit, which would create the conflagration, the massive bonfire of the bond vanities and bank charades. Many are the fuses lying around, all criss-crossed, all exposed, all overlapping each other in highly dangerous manner. If any single fuse is lit, then several will light and the detonation arrives. It is unavoidable since the financial world is so deeply interwoven. Never in modern history has the global financial structure been so badly weakened, so totally corrupted, so thoroughly undermined by control mechanisms, so intensely defended by sanctions even war. In 2007 and early 2008, the Jackass warned of a mortgage bust that would alter the global system forever. It happened with far reaching consequences which endure to this day. In recent months the Jackass is warning of a Systemic Lehman event, where several major national systems are at heightened risk of a similar bust like what happened in September 2008. Except this time, the entire global financial system will erupt like a debt volcano, with several epicenters, all located in the West. The big Western banks are all lashed together, all tied to each other. The banker cabal believed that the interconnectivity within their bank structures would make them all immune to failure risk. The reality is that the failure of any one major bank guarantees the systemic breakdown of all of them. It will erupt like a cave-in of the flying buttresses at the Notre Dame in Paris, with numerous bank (churches) collapsing, all located in the West.

    FINAL SOLUTION
    When the collapse occurs, the solution will finally be discussed, the solution avoided for eight full years. THE GOLD STANDARD WILL BE INSTALLED. It will first arrive in the trade payment system. Then it will arrive in the banking reserves system. Lastly it will be seen in the gold backed currencies. The paper game has gone on since 2008 in grand style and unspeakable corruption.


    This article attempts to list many threats to a systemic breakdown from ignition of several megatons of TNT dynamite. The financial press has often mentioned derivatives as capable of inflicting damage and devastation like with nuclear explosions. The systemic breakdown is due to occur soon, actually way overdue to occur. The prevention has been a massive global project run by the major central banks in coordination with a few ministries of finance. The primary control center is the USDept Treasury and their Exchange Stabilization Fund. This truly gigantic multi-$trillion fund is a very well-kept secret. Its recent activity has been to permit the USTreasury Bond yield to rise, but without pushing down the sacred USDollar. Not much mention has come from the sleepy lapdog financial press on this unusual anomaly. The motive is to keep the Japanese happy, since they are the last holdout among the $1 trillion USGovt debt holders. The Chinese are dumping USTBonds, but the United States cannot afford for Japan to dump USTBonds at the same time.

    read more.

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November 29, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

India’s Modi Admits Plan Shifting Nation To “Cashless Society”

https://www.biblegateway.com/passage/?search=Revelation+13%3A16-18&version=NKJV

  • The Synagogue of Satan is running out of time to prepare for the arrival of their Man of Sin. This desperate action by the Modi (Kissinger puppet?) government is causing a massive economic decline in India. There is really no need to be so extreme and urgent if you want to move the country forward into more electronic transactions. The real reason is: the serpents don’t have much time left. 23 Sept 2017 is rapidly approaching.
  • India’s Modi Admits Plan Shifting Nation To “Cashless Society”  
    by Tyler Durden, http://www.zerohedge.com 
    Well who could have seen this coming? Just as we noted, the slippery slope towards full government control in a cash-less society is where Indian PM Modi is heading following his chaos-creating demonetization efforts of the last two weeks. While massive opposition protests are planned tomorrow, Modi remains indignant, as Reuters reports, “we can gradually move from a less-cash society to a cashless society…this is the chance for you to enter the digital world.”

    Indian Prime Minister Narendra Modi on Sunday urged the nation’s small traders and daily wage earners to embrace digital payment channels, as a cash crunch following the government’s surprise ban on high-value bank notes drags on.

    Modi, speaking in his monthly address on national radio, said the government understands that millions have been affected by the ban on 500-rupee and 1000-rupees notes, but defended the action.

    “I want to tell my small merchant brothers and sisters, this is the chance for you to enter the digital world,”
    Modi said speaking in Hindi, urging them to use mobile banking applications and credit-card swipe machines.


    “It’s correct that a 100 percent cashless society is not possible. But why don’t we make a beginning for a less-cash society in India?,” Modi said. “We can gradually move from a less-cash society to a cashless society.”

    More than 90 percent of consumer purchases in India are transacted in cash,
    Credit Suisse estimates. While a smartphone boom and falling mobile data prices have led to a surge in digital payments in recent years, the base still remains low. Modi
    urged technology-savvy young people to spare some time teaching others how to use digital payment platforms.

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

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

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November 29, 2016 Posted by | Economics, EndTimes, GeoPolitics, Social Trends | , , , , , , , , | Leave a comment

The Economic Indicators Are Pointing Towards A Depression: Michael Snyder

November 28, 2016 Posted by | Economics | , , , , , , , , , , , , , , , , , | Leave a comment

Italy: The Biggest Elephant Jeopardizing Europe And The Euro

greece_italy_collapse_eu

  • Italy: The Biggest Elephant Jeopardizing Europe And The Euro
    by Not just the euro, but the entire European Union may be in jeopardy next week when the Italians vote on a constitutional referendum initiated by Prime Minister, Matteo Renzi.

    What a Jubilee year it has been. First Brexit, then Trump and now it appears Italy is on the cusp of also escaping the grasp of the European Union. After two years of directly covering trends involved with the disintegration of Western culture in my book Shemitah Trends, I can say with confidence that what has been built up is being torn down. That includes the European Union which will either gradually or abruptly collapse into various pieces.

    Nonetheless, the overall centralization and authoritarianism of Europe will not cease. It simply will be ruled in pieces instead of as one region. The disasters that will come as a result of the fracturing, will be used as justifications to create the additional globalism that our controllers seek – though in general, most people are opposed to it.

    A splintered Europe is probably easier to control than a homogenous one. Part of control is setting individuals, groups and regions against one another. Having an “enemy” to unite against justifies authoritarianism.

    Is Renzi everything he seems to be? His nickname is Il Rottamatore – the “Demolition Man.” It is hard to believe he simply decided the best way to reform Italy was via referendum, especially given the rising anti-euro sentiment and political opposition to constitutional changes.

    In order to examine what’s really going on in Italy, you have to be aware of recent political trends — one of the most prominent being George Soros’s affiliation with one of Italy’s most influential political parties, the “Five Star Movement.”

    This party was founded by comedian Beppe Grillo and has espoused a variety of anti-mainstream points of view. Most notably, the party has called for a vote on leaving the Eurozone. It is very possible that if Renzi loses his referendum, political maneuverings could bring further referendums directly affecting Italy’s participation in the EU.

    How do we know about Soros’s affiliation with the party? Because he is close friends with economist Joseph Stiglitz who is a good friend of Grillo’s and Stiglitz reportedly has had a strong influence on Grillo’s economic stance. Papers published in August from DC Leaks reportedly reveal Soros’s influence directly on emergent political entities including the Five Star party.

    read more.

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November 28, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Italy is Poised to Become Next Country to Reject the Establishment as Shock Poll Finds Referendum Protest Vote is Poised to Beat the Government

http://www.dailymail.co.uk/news/article-3974306/Italy-poised-country-reject-establishment-shock-poll-finds-referendum-protest-vote-poised-beat-government.html

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  • What is happening in India now will be replicated throughout the world. Got physical gold/silver yet?

Eurozone_Collapse

http://www.ibtimes.co.uk/societe-generale-seconds-rbs-doomsday-prophecy-predicts-collapse-eurozone-1537621

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November 28, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment