Socio-Economics History Blog

Socio-Economics & History Commentary

Bank Of England Warns “Bigger Systemic Risk” Now Than 2008

  • Bank Of England Warns “Bigger Systemic Risk” Now Than 2008
    by janskoyles, http://www.goldcore.com/uk/
    – Bank of England warn that “bigger systemic risk” now than in 2008
    – BOE, Prudential Regulation Authority (PRA) concerns re financial system
    – Banks accused of “balance sheet trickery” -undermining spirit of post-08 rules
    – EU & UK corporate bond markets may be bigger source of instability than ’08
    – Credit card debt and car loan surge could cause another financial crisis
    – PRA warn banks returning to similar practices to those that sparked 08 crisis
    – ‘Conscious that corporate memories can be shed surprisingly fast’ warns PRA Chair

    Editor Mark O’Byrne
    Stark warnings have been issued by the Bank of England and its regulatory arm, the Prudential Regulation Authority (PRA). In less than one week the two bodies issued papers and speeches to warn industry members that many banks are showing signs of making the same mistakes that led to the 2008 financial crisis – the outcomes of which are predicted to be worse than those seen just nine years ago.


    Increased risks have been noted at different ends of the financial system, from the European corporate bond markets right through to retail lenders.

    The Bank of England’s ‘Stimulating Stress Across the Financial System’ was released last week. It looks at how it will assess risk in future studies on the European corporate bond market. It concludes that the corporate bond market could create more instability during the next financial shock than it did in the crisis of 2008.

    Just two days before this stark warning, the PRA’s chief-executive Sam Woods told lenders that they were on thin ice with their innovations designed to reduce their capital requirements and buoy earnings. Woods said that whilst their innovations “might meet the letter of the regulation” they must not be “designed to circumvent the spirit” of banking rules.

    Bank of England’s Woods accused banks of engaging balance sheet trickery to “circumvent the spirit” of post-financial crisis rules.

    Both warnings over both sets of practices is yet another reminder of the stark difference of interests between taxpayers, regulators and the banking industry. News of institutions circumventing regulations and non-bank corporate lenders creating more risk in the system begs the question if the financial system as we know it will ever be fit for purpose in terms of looking after the needs of borrowers and savers. It also rises concerns about how safe the banks are for depositors and whether banks are ‘safe for savers?’

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

Italy Threatens EU With “Nuclear Option”: Give 200,000 Migrants EU Visas, Sending Them North

http://www.express.co.uk/news/world/829232/Italian-Government-asylum-seekers-200-000-EU-visas-Schengen-scheme-travel

Click on image for article.

  • Italy Threatens EU With “Nuclear Option”: Give 200,000 Migrants EU Visas, Sending Them North
    by Tyler Durden, http://www.zerohedge.com
    Two weeks after Italy reacted with anger to Austria’s deployment of troops and armored vehicles to the border between the two nations, while reactivating border controls at the Brenner Pass over concerns that Italy will be unable to handle the roughly 85,000 migrants and refugees who have entered the country so far in 2017, the Italian government has threatened to retaliate in way that assures an imminent migrant crisis as well as an escalation of tensions between the two EU nations.

    According to The Times, an Italian minister and a senator have threatened to issue temporary EU visas to thousands of migrants in an effort to “resolve” Italy’s escalating migrant and refugee crisis, which would then allow the refugees to travel north. The move, which has been described as a ‘nuclear option,’ would allow the nearly 200,000 migrants currently stranded in Italy, to travel across Europe using a Brussels directive loophole.

    Paolo Gentiloni, the prime minister, is livid that the rest of Europe has refused to take its fair share of migrants and that they have closed ports to rescue ships as the number of refugees attempting the treacherous crossing from Libya to the Continent has surged.

    read more.

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July 17, 2017 Posted by | GeoPolitics, Social Trends | , , , , , , | Leave a comment

Jim Willie: Global Reserve Currency at Risk

  • Jim Willie: Global Reserve Currency at Risk
    by Jim Willie, http://www.goldenjackass.com/, via http://www.goldseek.com/
    Within the US borders, the population remains largely ignorant of the true significance of the global currency reserve concept. It is of paramount importance, yet almost never discussed in the financial press. The public within the United States simply assumes the country operates with the USDollar as its currency, with near blindness to its global role in trade and banking. The end of an era is coming, as the change will be powerful in its effect. The shock wave could hit this year in some form, in a manner to highlight its importance.

    MEANING OF CURRENCY RESERVE
    The term is tossed around in common manner, often without an explanation of what it means. A strict meaning is followed by a practical meaning. The USDollar serves as global currency reserve, insofar as the USTreasury Bond is the standard for bank reserve core asset usage. Numerous countries have a core foundation to their national banking system. They maintain core assets and ratios. It is not gold bullion, but rather the USGovt debt. It is the USTBond denominated in USDollars. Of course, such practice is upside down and lunatic. Debt operating as core assets in the global banking system is utterly reckless, insane, and bound to force a systemic breakdown. Such is the heresy and risk from the banker cabal.


    The practical side of global currency reserve system is that trade payments are standardized as being executed in USDollar terms. A crude oil shipment, a grain shipment, a container vessel shipment, they are paid in USD terms, often with short-term USTreasury Bills. Also, international contracts like for consulting services or for installation of IT systems typically are written for payment in USD terms. As a result, the nations set to pay for a shipment or contract maintain huge USTreasury stores in their banking systems, ready to complete the trade payments.

    read more.

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

The Next Financial Crisis Will Wipe Out Most Paper Assets: Lynette Zang

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

Eurozone is Doomed Even with German and French Battle to Safeguard Its Future

  • Eurozone is Doomed Even with German and French Battle to Safeguard Its Future
    by HELENE PERKINS, http://www.express.co.uk/
    THE eurozone is on the verge of break up despite France and Germany’s battle to keep it intact, according to one of the world’s biggest investment banks.

    A warning has been fired over the future of the single currency bloc by a senior employee at Bank of America Merrill Lynch, which he says been falling apart since if was formed close to two decades ago.

    Emergency bailouts have been dished out to Greece and Portugal but richer countries, including Germany, have failed to redistribute wealth to poorer eurozone countries.

    Athanasios Vamvakidis, who is based in London and has worked for the International Monetary Fund for 13 years before going to work for the US bank, said the situation had led to a split between members and a rise in inequality.

    He said the stance changed during the global financial crisis but added “divergence seems to be the norm since the eurozone was formed.” Mr Vamvakidis said it was a “red flag for the sustainability of the eurozone” and warned poorer countries could quit the bloc due to mounting debt. He said: “Wouldn’t such countries want to have their own monetary policy at some point? “Wouldn’t populism find the common currency to be an easy target – which is already happening in some countries?”

    He added: “Without growth, debt could prove unsustainable in some countries and populism against the eurozone could find support in some cases, leading to exit of a country left behind. “The probability that a country, at the core or the periphery, may decide to leave under a populist leadership at some point in the future is not low, in our view.”

    read more.

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July 15, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , | 1 Comment

Ron Paul On The Coming Dollar Crash, Cashless Society & False Flags

  • Published on Jul 13, 2017
    Josh Sigurdson interviews former congressman and host of The Liberty Report, Dr. Ron Paul. Dr. Paul responds to the Federal Reserve’s Janet Yellen’s delusional claim that we will not see another major crisis in our lifetime. He updates everyone on his views regarding the coming fiat dollar crash as medias across the board put his comments out of context. The fundamentals are off the table due to the level of manipulation so one cannot put an exact date on the fiat crash, we just know it will indeed happen.


    Dr. Paul also goes into his thoughts on the cashless society we’re seeing unroll in front of us on a global scale. From India to Australia, from China to Canada, the implementation of cashless systems is a dire concern for many as many of the top globalist financiers endorse the notion of implementing it into the SDR (Special Drawing Rights) at the IMF. Ron Paul breaks down his thoughts on this out of control centrally planned system and whether he thinks it will be accomplished or not.

    Josh also asks Dr. Paul about the possibility of further false flags to bring the United States into a potential violent conflict with Russia as the media hypes the anti-Russia narrative all day, every day. This shows the true nature of the similarities between both collectivist Democrats and Republicans as they obsess over “Russian collusion” and attempt to create a distabilizing narrative between the U.S. and Russia. No matter who is president, the deep state continues to perpetuate everything we’ve seen in the past. The Trilateral Commission, the CFR, they all continue to map out global policy regardless of the figurehead president.

    Ron Paul gives a voluntaryist bottom line as to how he believes people can encourage more people to understand the message of individual liberty, free markets, sound money and freedom in general. 
http://www.infowars.com/federal-reserve-manufactures-greater-recession/

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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July 15, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , | Leave a comment

Nomi Prins: Easy Money Policy Allows for Another Crisis

  • Nomi Prins: Easy Money Policy Allows for Another Crisis
    by CRAIG WILSON, https://dailyreckoning.com/
    Nomi Prins joined The Foreign Correspondents’ Club of Japan in Tokyo to discuss the banking landscape and state of financial regulations in the Trump era. The central bank historian and financial expert also took a deep dive into the shifting relations between the United States and Japan and what easy money policy has meant for financial markets.


    The author began the discussion noting that, “A lot of things have happened in the past months in particular within finance and trade alliances amongst countries in the Trump era.”

    Speaking on the recent gathering of world leaders Prins’ notes, “One of the things that came out of the G20 is whether it is America last in terms of the alliances occurring today. The American first policy is pushing new diplomacy and agreements with countries that have not spoken with one another in the past. This is happening for two reasons. One, from a standpoint of protecting the commonality of the world. It is filling the gap between receding powers versus rising power. Two, it is an anti-protectionist move.”

    Prins’ then builds on easy money policy stating, “We still have a problem of banks that are too big to fail. We still have a problem where the initial financial crisis that happened ten years ago in the United States, that was the result of the banks being too large and too speculative… in using the guarantees that the U.S government has provided to bank depositors and the provisions provided in the Glass-Steagall. Those deposits have become a guarantee for banks to become bigger and a guarantee for financial crises to become something that the government subsidizes. Our Federal Reserve, our central bank, also subsidizes this.”

    read more.

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

Timeline to Collapse: The End of Market Rigging, Money Fraud, Political & Moral Secrets | Rob Kirby

  • Published on Jul 11, 2017
    Rob Kirby, outspoken commentator, proprietary analyst and founder of KirbyAnalytics.com returns to Reluctant Preppers to spell out the timeline to collapse. Kirby explains how intervention in our capital markets has been rampant, our cash system is a crack-house, and why it needs to be busted. Kirby further argues that those who have denied it, perpetrated it, and prolonged it must be outed, and the natural law allowed to restore truthful and just money, to protect world peace. Kirby pulls no punches, takes on the powers that be, and clearly calls out the parties we can trust or not. Don’t miss this expose and get a healthy reality check from an astute observer of historical and current geo-financial affairs!

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

Dr. Jim Willie: Global Rejection of U.S. Dollar Is Coming

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

Something Big Is Lurking That Will Change The Precious Metals Market: Andrew Hoffman

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

The Economic Reset Has Been Planned & The Bankers Want To Control It

  • Published on Jul 11, 2017
    Get economic collapse news throughout the day visit http://x22report.com
    Wholesale sales tumble for the 3rd straight month in a row while inventories are building up. We have never seen QE until 2008 and we do not know what an unwind will look like or the discontinuation of QE, which could lead to a disaster. Rising interest rates will make the debt completely unsustainable. The central bankers knew the fiat system would only last a certain period of time, they have been planning this from the beginning just like they planned to come off the gold standard in 1971. Their main objective is to keep control of the system once the reset occurs. 
http://www.stopthecrime.net/Henry-Makow---Illuminati----(2008).PDF

Click on image for pdf E-book.

http://www.stopthecrime.net/Henry-Makow---Illuminati----(2008).PDF

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July 12, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , | Leave a comment

Ethereum Flash Crash – Wall St Conspiracy? | Jim Willie

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

King of Saudi Arabia to Visit Russia: Bringing Relationship to New Phase

  • Is this the end of the petrodollar? Yes. Qatar has already switched sides to the Russia-China-Iran axis. Now Saudi Arabia is doing the same. It implies that America’s Middle East hegemony is over. It also implies that USA has only 1 last card to play to ignite a Greater Middle East war: Zionist ‘666’ Israel, the Satanic counterfeit.
  • King of Saudi Arabia to Visit Russia: Bringing Relationship to New Phase
    by ALEX GORKA, https://www.strategic-culture.org/
    Much has been said about the much vaunted trip of US President Donald Trump to Saudi Arabia where he was lavished with extravagant royal pomp. The $110 billion arms deal was signed and the plans to create an Arab NATO set the agenda. The visit – the president’s first foreign trip – was described as a major step to boost the US clout in the Middle East but the days when the region was Washington’s exclusive sphere of influence are gone.

    The Kingdom has launched an ambitious Vision 2030 program to start a new chapter in its history, turning itself from a US dependent oil exporter to a regional powerhouse with diversified economy, gradually opening the doors to the whole world. Investment flows are to come from different directions with money put into different baskets. Saudi Arabia is intensifying its diplomatic efforts to change its perception to start a new era. Russia is viewed as a partner in the far-reaching plans.

    The blossoming relationship between Russia and Saudi Arabia signals yet another sea change in the ever-evolving global order. King Salman is to become the first Saudi monarch to visit Russia. The trip is expected this month with talks on the way to specify the date. The visit acquires special importance as the King has taken a decision not to attend the July 7-8 summit of the G20 summit in Hamburg, Germany.

    On May 30, President Putin welcomed then Deputy Crown Prince Mohammed bin Salman in the Kremlin and both men said they would deepen cooperation in oil and work on narrowing their differences over Syria. The visit came on the heels of US President Donald Trump’s historic visit to Riyadh.

    Prince Mohammed bin Salman was recently appointed to the position of Crown Prince and heir to King Salman of Saudi Arabia. This appointment bodes well for the Russia-Saudi relations. The crown prince has overseen the ties with Moscow and has visited Russia many times. Russian President Vladimir Putin has called him a «very reliable partner with whom you can reach agreements, and be certain that those agreements will be honored».

    Russia and Saudi Arabia might launch joint projects in petrochemical industry, in the field of renewable energy and liquefied natural gas (LNG) technologies among others. The Russia-Saudi Arabia brokered and recently extended oil output cut agreement between OPEC and non-OPEC members has become the flagship symbol of cooperation.

    read more.

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July 10, 2017 Posted by | GeoPolitics | , , , , , , , , , , , | Leave a comment

The World Is Changing,The US Will Collapse As A Civilization Unless We Change: Harley Schlanger

July 10, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | Leave a comment

The End Of The Cycle: “The Government Will Gladly Enter A War To Cleanse The Balance Sheet And Cull The Herd”

WW3 is near?

  • The End Of The Cycle: “The Government Will Gladly Enter A War To Cleanse The Balance Sheet And Cull The Herd”
    by Jeremiah Johnson, July 7th, 2017, SHTFplan.com
    In the days following the 241st anniversary of the signing of the Declaration of Independence, the country is in an even more precarious position than it was in 1776.  We face a situation of a fiat currency about to collapse as the consumer-based economy follows.  Whether orchestrated by our imperialistic government or following actions of a hostile foreign nation (prompted or unprompted) the government will gladly enter a war to “cleanse” the balance sheet and cull the herd.  Concurrently, the country is deeply divided domestically along lines of racial unrest.

    The country also faces a threat to its existence in the face of Muslim extremists who are fostered by the traitorous socialist-Marxists in our government who enabled their entry under Obama as protected “refugees.”  U.S. policy in every arena is a chariot drawn by horses with no driver, jerking toward the “Blues” of the socialist Democrats or the “Reds” of the socialist, pseudo-Republicans in the domestic quagmire, the Circus Maximus partially in ruin after years of Barack Hussein Obama II’s reign.

    The superficial and superfluous, in the meantime, becomes the public focus and hence the distraction: “Simulacra and simulation,” so to speak.  The majority have gone forward in their consumer-driven Habitrail according to the sacred Hallmark Calendar…the one that has a “THX-1138 Consumer Day” at least one day every month.  The one with a fixed venue: everyone left the house to shop, to eat, to plan on the big barbecue in the afternoon.  Finally, in the evening, everyone then piled into the cars to watch the fireworks.  Then they all went home, to mount the treadmill again in the morning.

    The government believes it is entitled to what those who pay taxes earn.  And those who support the system?  We believe that we are entitled to reset everything based on the merits of hard work and conservative values: an automatic, bloodless reset.  All these “entitlement” mindsets, forgetting that everything is cyclical.  We are at the end of the cycle for the United States.  We peaked long ago, and now we are deep in the decline-phase.  The Founding Fathers summed up in words what we are truly entitled to…a loss of our freedoms following the moral and societal degradation that we have allowed as a nation.  Some fostered it (the Marxists) and we the conservatives allowed them to do it.

    read more.

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July 10, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , | Leave a comment