Socio-Economics History Blog

Socio-Economics & History Commentary

Creating Another “Crash of 1929”

  • Creating Another “Crash of 1929”
    by Jeff Thomas, http://www.internationalman.com/
    Regarding the Great Depression… we did it. We’re very sorry… We won’t do it again.
    – Ben Bernanke


    Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road
    either too much inflation, financial instability, or both.
    – Janet Yellen


    In his speech above, future Federal Reserve Chairman Ben Bernanke acknowledged that, by raising interest rates, the Fed triggered the stock market crash of 1929, which heralded in the Great Depression.

    Yet, in her speech above, Fed Chair Janet Yellen announced that “it makes sense” for the Fed to raise interest rates “a few times a year.” This is a concern, as economic conditions are similar to those in 1929, and a rise in interest rates may have the same effect as it did then.

    So let’s back up a bit and have a look at what happened in 1929. In the run-up to the 1929 crash, the Federal Reserve raised rates to 6%, ostensibly to “limit speculation in securities markets.” As history shows, this sent economic activity south rather quickly. Countless investors, large and small, who had bought stocks on margin, would be unable to pay increased interest rates and would be forced to default. (It’s important to understand that the actual default was not necessary to crash markets. The knowledge that investors would be in trouble was sufficient to send the markets into a tailspin.)

    Mister Bernanke was quite clear in 2002 when he stated that the Fed would not make the same mistake again that it made in 1929, yet, then, as now, there’s been a surprise victory by a Republican candidate for president. Then, as now, a wealthy man who had never held elective office was unexpectedly in the catbird seat and had the potential to endanger the control of the political class, at a time when that political class had been complicit in damaging the system by creating massive debt.

    read more.

http://www.wnd.com/2008/03/59405/

Click on image for article.

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

Click on image for article.

end

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

Rick Rule: Only Popular Solution = Dollar Destruction

  • Published on Apr 17, 2017
    President and CEO of Sprott US Holdings Rick Rule says gold, silver, and the US dollar rarely trade how they are trading right now… Gold, silver, and the US dollar are all trading higher. This trading pattern is extremely bullish for gold and silver, Rule says. Rule also notes the current strength in the US dollar is not reflective of economic strength. He explains why the US economy is actually weak. In addition, US dollar strength won’t last. With a national debt nearing $20 trillion and unfunded liabilities above $100 trillion, long term there is no practical option out of this debt besides devaluation.

end

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

Insider Reveals: China’s Top Billionaire Wants Physical Gold Now!!

  • Published on Apr 16, 2017
    A major gold mining insider just revealed that one of Asia’s richest men, billionaire Li Ka-shing is now very actively in the process of acquiring gold related assets and PHYSICAL gold like never before. The shift of gold from west to east has never been more evident. Sprott US Holdings President & CEO Rick Rule & Gold Mining Inc. Chairman Amir Adnani join me to discuss this & more.

end

April 17, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

London Gold Fix BREAK DOWN: Signal For A Gold Mega Move?

April 17, 2017 Posted by | Economics | , , , , , , , , , | Leave a comment

Marine Le Pen: The Potential Brexit Times 100

Marine Le Pen, a ferocious Eurosceptic, is surging in the polls. Marine Le Pen described the EU as a “nightmare”.

  • Marine Le Pen: The Potential Brexit Times 100
    by , https://www.milesfranklin.com/
    You want drama. ..and TRUTH?  Well, let’s start with this amazing, must see, three-minute 2009 clip from Ron Paul; or, as I deemed him five years ago, “America’s greatest man.”  Given what I discussed in Friday’s “did America just start World War III”; and yesterday’s “beating of the drums”; it couldn’t be more appropriate – as in it, he asks “what if” America’s foreign policy is misguided; and “what if” it continues down the horrifying road it appears dead set on taking.


    At this point, I have little interest in political correctness – as any slim, misguided hope I had of Donald Trump “draining the swamp” is gone.  In other words, my “stance” of neutrality – this, after I spent more energy helping to get him elected than 99% of the population – is dead.  I don’t for a second begrudge his failed attempt to “repeal and replace” Obamacare; nor his inability to even propose a tax reform bill – like the “phenomenal” one he promised last month, which as of yesterday, was declared dead.  For that matter, I’ll take no issue when his promised fiscal stimulus plan – which wouldn’t help the economy one iota, I might add – fails, too; particularly as the ugliest, most destructive debt ceiling crisis in U.S. history is mere weeks away.

    Just two days after he was elected, I predicted this as vehemently as possible, in my must listen “turning on Trump” Audioblog.  To wit, everything he campaigned on was pure rhetoric; designed – like any politician – simply to win the election.  Similarly, everything he promised was politically and/or economically unviable, particularly given the mortal enemies that he, as the “ultimate outsider,” started out with – from the lunatic “snowflake liberals” to the oxymoronically named, equally nation-destroying “Republicans.”

    That said, if he had been modestly diplomatic, perhaps the will of the people would overcome that of the deep state, if for a brief, fleeting moment.  However, asking Donald Trump to be diplomatic is like asking a lion to pass on a wildebeest; and frankly, the only times I’ve seen “diplomacy” are when he’s needed votes or political favor – like during the last weeks of the election campaign; at his “state of the union” speech; and, LOL, when he bombed Syria – which of course, won plaudits from the “wolves in wolves clothing” known as Congress and the mainstream media.  Including, I kid you not, the “fake news” kings of the world, and number one Trump haters, CNN.

    Yes, France, one of the oldest, most storied, and proud nations on Earth – inhabited by people famous for revolution, and standing up to tyranny. Today, France is a shell of its former greatness – having been destroyed by money printing, debt, immigration, and feckless “leaders” like current President François Hollande – whose approval rating is so low, he isn’t even running for re-election. Not to mention, Hollande’s 39-year old, snot-nosed, silver spoon “Minister of the Economy, Industry and Digital Affairs,” Emmanuel Macron – who the same propagandists and poll- and betting-line-riggers that said the BrExit and Trump would fail – are purporting to be the Presidential “front runner.” This, after the previous “front runner,” former Prime Minister François Fillon was charged with embezzlement of Parliamentary funds, funneled to his then girlfriend, and now wife. That said, Le Pen’s “odds” are far higher than either Trump’s or the BrExit’s ever were – and after she marches through the first round of voting on April 23rd, you can bet said “odds” will be higher still, particularly if fellow upstart; and yes, COMMUNIST, Jean-Luc Melenchon manages to surge past Macron, yielding a direct confrontation with Le Pen – which he could not possibly win. This is a low probability scenario, mind you, but in the land of the French Revolution, don’t be surprised if it happens.

    read more.

end

April 15, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Dr. Jim Willie: Golden Jackass Holiday Weekend

Click on image to download MP3 interview.

  • Dr. Jim Willie: Golden Jackass Holiday Weekend
    by Turd Ferguson, http://www.tfmetalsreport.com/
    It’s a sort of tradition around here that whenever we have a three-day market holiday weekend, we try to check in with Jim Willie. And this time, we used our A2A webinar format so that subscribers of TFMR were able to ask their own questions in real time. It was great fun and I think you’ll find it all quite thought-provoking.

    What topics did we discuss over this 97-minute call? Maybe a better question is…what topics did we not discuss? In this podcast you’ll here Jim pontificate on Trump, Syria, North Korea, gold, China, gold trade notes, silver, the mining shares, the Fed, debt jubilee, interest rates, the dollar, platinum and even his thoughts on Journey entering the Rock-and-Roll Hall of Fame. So sit back, relax and enjoy. And have a great holiday weekend, too.

end

April 15, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Jeff Brown: China Moves 30% More Funds into Physical Gold Bars – Ingots

April 14, 2017 Posted by | Economics | , , , , , , , , , , , , , | Leave a comment

Rick Rule: Extremely Rare & Bullish Trading Pattern in Gold and Silver

  • Published on Apr 13, 2017
    President and CEO of Sprott US Holdings Rick Rule says gold, silver, and the US dollar rarely trade how they are trading right now… Gold, silver, and the US dollar are all trading higher. This trading pattern is extremely bullish for gold and silver, Rule says. Rule also notes the current strength in the US dollar is not reflective of economic strength. He explains why the US economy is actually weak. In addition, US dollar strength won’t last. With a national debt nearing $20 trillion and unfunded liabilities above $100 trillion, long term there is no practical option out of this debt besides devaluation.

end

April 14, 2017 Posted by | Economics | , , , , , , , , , , | Leave a comment

Martin Armstrong: Economic Downturn Will Take World to War

  • Martin Armstrong: Economic Downturn Will Take World to War. Strong Dollar Could Cause Bond Market Crash
    by Greg Hunter’s USAWatchdog.com
    Renowned financial expert Martin Armstrong says the biggest risk out there is the effect a strong U.S. dollar has on the global bond market. Armstrong explains, “There’s these people who keep saying the dollar is going to crash.  If the dollar crashes, the world is happier and basically celebrating.  You have half the U.S. debt equivalent in emerging market debt issued in dollars.  If the dollar goes up, they are in trouble.  Then you are going to see sovereign defaults. . . . The U.S. is not going to default, but as you start defaults elsewhere outside the country, it makes people begin to get concerned about sovereign debt.  Sovereign debt is the worst of all.  It’s not secured.  If the U.S. government defaulted on its debt, what would happen?  You cannot go down to the National Gallery and start lifting Picassos.”


    So, a bond market crash is a distinct possibility? Armstrong says, “Yes.  All these things are contagions. . . . The real risk is coming from Europe and Asia.  That is the real risk. . . . There is no place to go but the dollar at this point.”

    If and when a global collapse comes, it will come from China or Europe. Armstrong says, “Yes, because you don’t collapse the core economy.  It’s always the peripheral coming in.  It was the same thing in the Great Depression.  It wasn’t the fact that the U.S. defaulted.  The problem was the first bank that went down was in Austria, and it happened to be owned in part by the Rothschilds.  When people hear a bank owned by the Rothschilds went down, people started to sell off all other banks.  Then all the countries defaulted.”

    Armstrong says there is going to be a major “monetary reform” in the not so distant future, and the U.S. will end up with a dollar for domestic use and a dollar used for international trade, sort of like a “domestic dollar” and an “international trade dollar.” Armstrong says, “Yes. All it is doing is replacing the dollar as the reserve currency.  That would satisfy China and Russia, and it would simply be maintained by an international board.  I strongly advise against the IMF.  It’s way, way too corrupt.”

    read more.

end

April 14, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Willie on The Strength in Silver and China’s Bitch (JP Morgan)

www.goldenjackass.com

Click on image to play interview MP3 file!

  • Jim Willie on The Strength in Silver and China’s Bitch (JP Morgan)
    by , https://ochelli.com/
    04/07/2017 Friday – Jim Willie on The Strength in Silver and China’s Bitch (JP Morgan).  
    GoldenJackass.com is where you can find Jim Willie who doesn’t give a damn about plastic Dollars, but does explain how a gold-backed currency basket of nations might leave the US the odd man out. 

    GoldenJackass.com Summary (Get Your Hat Trick Newsletter Today) topics covered include:

    – Syrian War with US-led hidden ISIS involvement in grand confusion
    – falsified ISIS videos continue with guerrillas posing as rescue workers over fake victims
    – risk to paper assets with favor to Gold & Silver investments
    – the grand suppression of the Gold market since the Lehman event during the QE hyper monetary inflation episode
    – the 5-fold rise in money supply since Lehman event as justification for 5-fold sudden rise in Gold price
    – the stupid argument (propaganda) of not sufficient amount of Gold bullion to cover currencies as pure Keynesian rubbish
    – the USFed rate hikes with ulterior motives but with risk to undermine the USDollar credibility
    – the fear rises on the puffed up bloated bubbly USDollar currency market
    – the sequence likely to occur on Gold RESET with trade payment, then bank reserves, then gold backed currencies
    – the profound challenges for remedy to the gargantuan imbalances in the financial world
    – the imbalances which should not continue since so difficult to remedy (straw dog heresy)
    – the emerging dual universe of a USD-based West versus an RMB & Gold-based East

end

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

Gregory Mannarino: FedRes Deliberately Created Bubbles to Save Itself

  • Published on Apr 11, 2017
    Analyst/trader Gregory Mannarino says, “The Federal Reserve has re-inflated a housing bubble. So now, those ‘toxic assets,’ those mortgage-backed securities are worth something. Now, they are going to sell these at a profit. The profit should going to the poor people who were kicked out of their houses and lost everything. That is not going to happen. The Federal Reserve has deliberately created bubbles to save themselves. If the Federal Reserve allowed the markets to do it’s one and only job, and that is to determine fair value, we’d be out of the woods by now. We wouldn’t be facing another war right now. They refused to do this. The free market has been stolen. We really could be on the edge of a major event that would force people into the debt market. There could be huge amounts of cash coming out of the stock market because of all this fear. There could be massive amounts of cash going into suppressed assets like gold and silver. Housing could come under pressure. We could be staring at the next real Great Depression.”


    In closing, Mannarino says, “The global debt problem is going to get monumentally worse. Let’s see anyone argue that. Does anyone here believe that the global debt problem is going to get better? That should tell you what you need to do. This is like adding 2 + 2. This should be so simple for people to understand what they need to do. . . . If you want to hold those pieces of paper with numbers printed on them, they are unbacked liabilities being dispersed by bankrupted governments. If you want to hold that, good for you. I can promise you I am going to be taking the opposite side to that trade, and I will win.”

end

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

Catherine Austin Fitts: US Dollar & US Empire Maintained by Corruption

  • Published on Apr 11, 2017
    During this 35+ minute interview Jason asks Catherine about the corruption trying to sabotage President Trump’s administration and his ability to get anything done. Catherine talks about the pervasive corruption at all levels of government “from sea to shining sea” and how it keeps the status quo going.


    Jason also asks Catherine whether Trump is a neocon or he’s been duped into the Syria strikes? Catherine has some interesting ideas about this. Jason then asks Catherine how many more times the Federal Reserve will raise interest rates in 2017?

    Catherine also discusses her Solari Report 2016 Annual Wrap Up, The Global Harvest & What It Means to Investors. Jason and Catherine discuss organic food and Catherine talks about how it’s an investable trend now.

end

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

The Biggest Asset Bubble in History is about to Pop | Michael Pento

  • Published on Apr 11, 2017
    The global bond market is the biggest asset bubble in history, says economist Michael Pento. By taking interest rates below 1% for 100 months, the Fed has deformed not only the bond market, but other assets such as real estate and the stock market. Many other central banks have held interest rates artificially low, sometimes taking interest rates negative. Today, the world has $14 trillion of negative yielding sovereign debt. Pento forecasts another crisis will hit later this year or early next year. At that time, he says the Fed will start “Helicopter Money.”

end

April 12, 2017 Posted by | Economics | , , , , , , , , , , , | Leave a comment

James Rickards: This Is An Extinction-Level Event

  • James Rickards: This Is An Extinction-Level Event
    by http://www.silverdoctors.com/
    Submitted by Sprott’s Thoughts:
    James Rickards predicts the Fed will continue to raise rates and stall the economy.
    Transcript (edited for readability)
    Albert:  James, welcome back to The Power & Market Report. How are you?

    James:  I’m fine, Albert. Thank you. It’s good to be with you.
    Albert: First, before we start though, I want to let the viewers know that April 5 is the first anniversary of The New Case for Gold. So, congratulations on that.
    James:  Thank you.
    Albert:  And on April 7, you’re releasing the paperback edition of The Death of Money. So again, congratulations.
    James:  Thank you. And the paperback edition of The Death of Money as you know, Albert, New York Times Bestseller. It came out in 2014. A couple of things—you’re right, the paperback edition is coming out in a couple of days. It’s unusual. Usually a publisher would go to a paperback within about a year of the publication of the hard cover, but the hard cover, I’m happy to say, sold so well for so long that they delayed the paperback edition.

    But now the paperback edition is coming out. It has new material in it, so it’s not just a soft cover of the old book. It actually has some—a new preface I wrote that kind of goes over the material, shows why it has played out the way we expected and also adds entirely new material including new disclosures never before published on insider trading ahead of the 9/11 attacks. So, I’m very excited about this. It’s a very timely book. It’s still timely after a few years with some very new material included.

    Albert:  
    You know, I was going to joke at the beginning of the show that, you know, it’s been 3 months since we last talked and where is the new book? It turns out there actually is a new book.

    James:  Thanks.

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

Click on image for article.

end

April 12, 2017 Posted by | Economics | , , , , , , , , , , , , , , , , , , | Leave a comment

Prepare For The Coming War: “It’s Going To Obliterate The Global Financial System… Our Economy Will Not Survive”

WW3 is near?

  • Prepare For The Coming War: “It’s Going To Obliterate The Global Financial System… Our Economy Will Not Survive”
    by Mac Slavo, April 9th, 2017, SHTFplan.com
    You know what’s so tragic about America? Despite all of the wars our nation gets involved in, we’re secretly one of the most peaceful cultures on the planet. We voted for George Bush, because he promised us a non-interventionist foreign policy. We voted for Obama, because he promised to bring the troops home from Iraq and Afghanistan. We voted for Trump, because he promised to end the nation building policies of his predecessor.


    And that’s the real tragedy. We’ve been voting for peace for nearly 20 years now, and all we get is war.

    That should really tell you something. It should tell you that our system doesn’t care about what the president stands for, or what the voters want. The system is never held accountable for anything, so there is nothing stopping it. One way or another, the deep state always gets its way. So if our government wants a war, then you can bet that we’re going to war.

    That was made abundantly clear last week when President Trump ordered the bombing of an air base in Syria. The attack was so provocative, that the Kremlin went so far as to say that the US is now “only one step from war” with Russia. The man who was supposed to buck the system and drain the swamp; the man who promised to restore our relationship with Russia and pull back from brinkmanship, seems to have finally submitted to the warmongers in our government. The deep state’s plan to drag us into a horrible conflagration was only temporarily derailed by Trump, and now it appears that their plans are back on track.

    But there’s a silver lining in all of this. Once you know that war is inevitable, and you accept that fact, you can have a pretty good idea of what’s going to happen next. You can finally take steps to prepare for it.

    As for what to expect next, you can bet the farm that our economy is not going to survive the next major war, especially if it involves a conflict with Russia or China. Even if this war doesn’t turn into a nuclear slugfest, it’s going to obliterate the global economy and financial system.


    For years Russia and China have been building an alternative to the dollar dominated financial system. They’ve built the BRICS financial bloc, they’ve been stocking up on gold, and they’ve been establishing trade agreements that don’t involve the dollar. When war breaks out, there’s going to be another system waiting in the wings to replace the dollar, which has been the world’s reserve currency for decades. The war will motivate China, Russia, and their allies, to pull the rug out from under the current economic paradigm.

    read more.

end

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