Socio-Economics History Blog

Socio-Economics & History Commentary

Jim Willie: Petrodollar System Collapse

Click on image to download MP3 interview.

  • The Ochelli Effect-2017-07-20 Jim Willie Petrodollar System Collapse
    by https://ochelli.com/, Jim Willie http://Goldenjackass.com
    Hour one.
    * petrodollar system collapse
    * Jim’s been sick for weeks, but starting to feel better.
    * Why is the MSM constantly talking about exchange rates?
    * petrodollar system collapse?
    * A lot of movement different currencies, and the dollar collapse.
    * The Euro is on the rise, all seems well in central Europe, but Jim says it’s not.
    * The dollar is in deep trouble due to the petrodollar system collapse.
    * The Chinese are going to buy Saudi oil with their own currency.
    * Threats of sanctions from Germany, and they are going to ignore the Russian sanctions.
    * Germany is starting to flip east as Jim predicted some years ago.
    * American opinion or policy doesn’t matter any more
    * The entire energy market is moving away from dollars [13 mins in].
    * OPEC is now toothless because of , petrodollar system collapse?
    * Treasuries are being dumped, who’s picking up the slack?
    * Jim and Chuck are both obnoxious , and happy about it.
    * Iran dumped 80 tankers full of oil onto the market
    * bonds and the petrodollar system collapse
    * Countries are going to dump treasuries putting massive pressure on derivatives
    * The US will be loosing the global reserve currency.
    * Did the German’s get their gold back? 140 tons of stolen gold in Libya.
    * Is Trump a clown or a genius? or genius at being a clown?
    * Trump asked Germany to pay more towards NATO, the Germans seem to have another plan.
    * NATO is coming apart?
    * Gold standard and Don’t forget Silver.
    * Did the German’s get their gold back?
    * German air force suffering from parts shortages
    * Turkey buying S400 missile systems from Russia
    * Chemtrails, GMO food and seeds, vaccines , primer for petrodollar system collapse
    * Global currency reset to replace dollar
    * Germans are printing marks others to in Europe
    * Euro behind the curtain
    * Fort Knox is empty , or maybe not
    * economic stagflation
    * domestic only Dollar 2.0
    * The system will offer the cure to collapse
    * What role will France and the NEW Mark play?
    * DC vs. The rest of the world.and the petrodollar system collapse

    Hour two
    *Kim , and Kim Jung Un , plus other fascists?
    * SJWs Suck
    * Why can’t certain subject be discussed on FaceBook?
    * Vaccines and chemical elements involved in the rise of sexual deviations.
    * petrodollar system collapse?
    * Free Speech safe space, in cyber space ?
    * Jim Willie is the founder of Golden Jackass.com and editor of the HAT TRICK news letter: http://goldenjackass.com

end

July 25, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Russia & China Declare All Out War on US Petrodollar — Prepare for Exclusive Trade in Gold

  • Russia & China Declare All Out War on US Petrodollar — Prepare for Exclusive Trade in Gold
    by Jay Syrmopoulos, http://thefreethoughtproject.com/
    The formation of a BRICS gold marketplace, which could bypass the U.S. Petrodollar in bilateral trade, continues to take shape as Russia’s largest bank, state-owned Sberbank, announced this week that its Swiss subsidiary had begun trading in gold on the Shanghai Gold Exchange.

    Russian officials have repeatedly signaled that they plan to conduct transactions with China using gold as a means of marginalizing the power of the dollar in bilateral trade between the geopolitically powerful nations. This latest movement is quite simply the manifestation of a larger geopolitical game afoot between great powers. According to a report published by Reuters:

    Sberbank was granted international membership of the Shanghai exchange in September last year and in July completed a pilot transaction with 200 kg of gold kilobars sold to local financial institutions, the bank said.

    Sberbank plans to expand its presence on the Chinese precious metals market and anticipates total delivery of 5-6 tonnes of gold to China in the remaining months of 2017.

    Gold bars will be delivered directly to the official importers in China as well as through the exchange, Sberbank said. Russia’s second-largest bank VTB is also a member of the Shanghai Gold Exchange.

    To be clear, there is a revolutionary transformation of the entire global monetary system currently underway, being driven by an almost perfect storm. The implications of this transformation are extremely profound for U.S. policy in the Middle East, which for nearly the past half century has been underpinned by its strategic relationship with Saudi Arabia.

    read more.

end

July 22, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment

Petrodollar Faces Growing Threat From the East. Payments in Gold Across Asia

  • Petrodollar Faces Growing Threat From the East. Payments in Gold Across Asia
    by Andrew BrennanAsia Times, 27 April 2017, via http://www.globalresearch.ca/
    While the recent raft of Sino-Saudi trade agreements benefited Chinese soft power in protecting Xinjiang, and the Saudis by diversifying their economy, China’s slow intertwining with Saudi Arabia complements the Sino-Russian alliance. Primarily, its benefits could lead to a realistic threat to the petrodollar.

    The Persian rival who showed the way
    In 2012/2013, the US Treasury Department, under the Obama administration, initiated a raft of sanctions in an amateurish fashion against the Central Bank of Iran. As we were told, it was done to tire and bleed Iranian economic and social life enough to draw Tehran into negotiations concerning its nuclear programme. The argument of were they/weren’t they pursuing a weaponized nuclear program isn’t important; how the Iranians circumvented these sanctions is.


    The sanctions were meant to be stifling, but the Iranians loosened this problematic liquidity noose by using all their banks that weren’t sanctioned, and sold rich Iranian oil to India. Of course, the Indians couldn’t pay Tehran directly. Neither could they pay bilaterally in rupees due to sanctions and infrastructure needed to trade in a bilateral currency. Instead, Iran requested that India pay in gold so India paid Turkey, the Middle East’s gold market, and Turkey gave Turkish gold to Iranian banks, which then swapped with the Central Bank of Iran.

    Turkey, for its part, may soon be the gold payment intermediator across Asia, and is already nationalizing the sector with a demand for private confiscation occurring to support the Turkish economy, but this has scarcely been reported.

    This clever evasion was known as the Iran-India-Turkey triangle. Iran was escaping the dominance of the US dollar and trading in real money, not a hegemonic fiat currency that was being printed hot-off-the-press all day. They were dealing in gold; not something that could be strangled through SWIFT and electrons traded on a screen easily. A simple intermediator and precious metals could break Obama’s heralded “crippling” sanctions.

    Iran ideologically, as well as practically, wants nothing to do with the US dollar but rather it wants to be free of monetary pressures by the US on its domestic policies. The effectiveness of this evasion was a preview to what countries like China, Russia, and to a lesser extent India and South Korea, have all been trying to do: increase their independence from the US dollar. The Iranian gold triangle showed successful independence from US dollar reliance.

    The Chinese usurpers and their yellow metal
    Fast forward to March 2017; the Russian Central Bank opened its first overseas office in Beijing as an early step in phasing in a gold-backed standard of trade. This would be done by finalizing the issuance of the first federal loan bonds denominated in Chinese yuan and to allow gold imports from Russia.


    read more.

end

July 21, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | 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.

end

July 17, 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.

end

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

Jim Willie: US Being Isolated, Petrodollar Ending, + Viewer Questions!

  • Published on Jul 7, 2017
    A trade conflict is brewing between the U.S. and Germany, Dr. Jim Willie says. “The United States is now a fascist nation.” Fascists cut across party lines and make up 75 percent of the government, Willie says. He says fascists have a tendency to alienate and defraud their allies, and the U.S. is no different. The United States is imposing sanctions on German companies working on a pipeline between Germany and Russia. Willie says these actions have crossed the line for Germany and a trade conflict is ahead. Germany will move East, he forecasts. This will further the United States’s isolation and the destruction of the U.S. dollar.

end

July 8, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Dr Jim Willie: Jackass’ Red Glare Upon The Petrodollar

Click on image to download MP3 interview.

  • Dr Jim Willie: Jackass’ Red Glare Upon The Petrodollar
    by http://www.tfmetalsreport.com/
    For your holiday listening pleasure, Jim Willie returns for a comprehensive discussion of the petrodollar and how current events around the Arabian Peninsula are a sign of great distress for this monetary scheme.

    Again, what is the “petrodollar”. The idea was championed by Henry Kissinger in 1973 as a way to create ongoing demand for US dollars by maintaining the pricing of crude oil in dollars only. The effects of this were two-fold:

    1. To create constant demand for dollars…dollars which were now completely unhinged from any gold backing…and this demand would soak up any excess supply of new currency being printed in the US for military and social purposes.

    2. To force oil-exporting nations to keep their foreign currency reserves in dollars, thus creating an ongoing demand for US treasury bonds. This constant demand for bonds would help to keep interest rates…and thus the US debt service cost…unnaturally low.

    As a result, any threat to this system, whether it has come from Iran, Iraq or Libya has been squashed either politically or militarily over the past 40+ years. The current flare-up of tensions between Saudi Arabia and Qatar must be viewed through this prism and that is the primary topic of this 47-minute discussion.

    read more.

end

July 4, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , | 1 Comment

The End Of The (Petro)Dollar: What The Federal Reserve Doesn’t Want You To Know

The grim reaper is coming for the petrodollar.

  • The End Of The (Petro)Dollar: What The Federal Reserve Doesn’t Want You To Know
    by Shaun Bradley, http://www.activistpost.com/
    The United States’ ability to maintain its influence over the rest of the world has been slowly diminishing. Since the petrodollar was established in 1971, U.S. currency has monopolized international trade through oil deals with the Organization of the Petroleum Exporting Countries (OPEC) and continuous military interventions. There is, however, growing opposition to the American standard, and it gained more support recently when several Gulf states suddenly blockaded Qatar, which they accused of funding terrorism.

    Despite the mainstream narrative, there are several other reasons why Qatar is in the crosshairs. Over the past two years, it conducted over $86 billion worth of transactions in Chinese yuan and has signed other agreements with China that encourage further economic cooperation. Qatar also shares the world’s largest natural gas field with Iran, giving the two countries significant regional influence to expand their own trade deals.

    Meanwhile, uncontrollable debt and political divisions in the United States are clear signs of vulnerability. The Chinese and Russians proactively set up alternative financial systems for countries looking to distance themselves from the Federal Reserve.  After the IMF accepted the yuan into its basket of reserve currencies in October of last year, investors and economists finally started to pay attention. The economic power held by the Federal Reserve has been key in financing the American empire, but geopolitical changes are happening fast. The United States’ reputation has been tarnished by decades of undeclared wars, mass surveillance, and catastrophic foreign policy.

    One of America’s best remaining assets is its military strength, but it’s useless without a strong economy to fund it. Rival coalitions like the BRICS nations aren’t challenging the established order head on and are instead opting to undermine its financial support. Qatar is just the latest country to take steps to bypass the U.S. dollar. Russia made headlines in 2016 when they started accepting payments in yuan and took over as China’s largest oil partner, stealing a huge market share from Saudi Arabia in the process. Iran also dropped the dollar earlier this year in response to President Trump’s travel ban. As the tide continues to turn against the petrodollar, eventually even our allies will start to question what best serves their own interests.

    read more.

end

June 28, 2017 Posted by | Economics, GeoPolitics, History | , , , , , , , , , | Leave a comment

The Qatar Blockade, Petro-Yuan & Coming War on Iran

  • The Qatar Blockade, Petro-Yuan & Coming War on Iran
    by Dan Glazebrook, https://www.rt.com/op-edge/
    Qatar hasn’t been playing ball with the US-approved, Saudi-led ‘isolate Iran’ program. Partly because Doha has made independence from Riyadh a hallmark of its foreign policy, but mostly because Qatar and Iran share the world’s largest natural gas field.

    US President Donald Trump’s speech to the assembled Gulf leaders in Saudi Arabia on May 21 is worth reading in full. It is deeply disturbing.

    Having praised himself for his $110 billion arms deal with the Saudis, he goes on to talk about the threat posed by terrorism, and what a wonderful job the US and the Gulfies – that is, the leading state sponsor of the region’s supremacist death squads and its assembled proxies – are doing in combating it. He then goes on to claim that at the root of the region’s terrorism lurks… guess who? The power leading the regional pushback against Islamic State (IS, formerly ISIS) and Al-Qaeda: Iran.

    Starving terrorists of their territory, their funding, and the false allure of their craven ideology, will be the basis for defeating them,” he says. “But no discussion of stamping out this threat would be complete without mentioning the government that gives terrorists all three — safe harbor, financial backing and the social standing needed for recruitment.

    This is pretty much exactly how Joe Biden – in his own attempt to whitewash US involvement – described Trump’s Saudi hosts three years earlier. But Trump is not talking about IS’s Saudi backers; he is talking about Iran – the same Iran responsible, with its Syrian and Russian allies, for that fact that the IS flag is not today flying over Damascus.

    read more.

end

June 20, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | Comments Off on The Qatar Blockade, Petro-Yuan & Coming War on Iran

China Makes Move To End The Dollar! Petro-Dollar Collapse 2017?

  • Published on Jun 5, 2017
    China Now Pressuring Saudi oil exports be sold in Yuan. The Dollar Collapse is becoming a very real danger as a concerted effort to dethrone King Dollar as the world reserve currency The Petro Dollar stautus now looks more fragile than ever. China takes aim directly at the central point of strength to our very fragile fiat currency.

The grim reaper is coming for the petrodollar.

end

June 10, 2017 Posted by | Economics, GeoPolitics, History | , , , , , , , , , , , , | Comments Off on China Makes Move To End The Dollar! Petro-Dollar Collapse 2017?

Gulf States Launch Naval Blockade of Qatar

  • Published on Jun 6, 2017
    In what has emerged as the most significant escalation to result from the Qatar diplomatic crisis – which pits two of OPEC’s largest oil producers, Saudi Arabia and the UAE, against the world’s biggest exporter of liquefied natural gas and further disrupts stability in the region – the biggest Middle East oil and container ports banned all vessels sailing to and from Qatar from using their facilities.


    According to a notice posted on the website of Inchcape Shipping, Saudi Arabian and Bahraini authorities closed off all of their ports to Qatari-flagged vessels or ships traveling to or coming from the Persian Gulf state, in what can be described as a quasi-naval blockade. As Bloomberg adds, container and oil terminals in the United Arab Emirates also closed off traffic to any ships touching Qatar. Learn More:

    http://www.zerohedge.com/news/2017-06…

end

June 8, 2017 Posted by | GeoPolitics | , , , , | Comments Off on Gulf States Launch Naval Blockade of Qatar

China’s Yuan-for-Oil Deals Are a Direct Assault on the US Dollar

The grim reaper is coming for the petrodollar.

  • China’s Yuan-for-Oil Deals Are a Direct Assault on the US Dollar
    by Bryon King, http://russia-insider.com/en
    Editor’s note: Russia and China have already inked energy deals in yuan. The fact that the Saudis are inching closer to a similar agreement with Beijing should be front page news.

    China is currently modifying the terms of its oil trade with Saudi Arabia. Specifically, China is working on a deal to pay for Saudi oil using Chinese yuan. This effort poses a direct threat to the security of the dollar.

    If this China-Saudi deal happens — yuan for oil — it’s another step closer to the grave for the petrodollar, which has dominated global finance since 1974. You can revisit Jim Rickards article about the Assault on the Dollar, here.

    To recap, the petrodollar is weakening because the dollar is losing power as the world’s reserve currency. This is similar to the way pounds sterling gradually fell out of favor during the decline of the British Empire. The decline may take a long time, but what we’re seeing today is another step in the death march of the dollar.

    read more.

end

June 3, 2017 Posted by | Economics, GeoPolitics | , , , , , , | Comments Off on China’s Yuan-for-Oil Deals Are a Direct Assault on the US Dollar

Jim Willie: Three Days of Jackass

Click on image to download MP3 interview.

  • Jim Willie: Three Days of Jackass
    by Turd Ferguson, http://www.tfmetalsreport.com/
    As per tradition, the Golden Jackass returns today with over an hour of A+ audio entertainment for your holiday weekend listening. The discussion begins with some additional information on Jim’s latest public post found here: http://news.goldseek.com/GoldenJackass/1495656000.php 

    From there, the conversation moves to the petrodollar, the Eurasian Trade Zone, the new Hong Kong Gold Exchange and Jim even gives some thoughts on Bitcoin and the rest of the crypto-currencies.

    I’m confident that you’ll find this information to be very informative and valuable. Perhaps it will help you to pass the time while driving or traveling over the weekend. Either way, sit back and enjoy 75 minutes of Jackass consciousness.

end

May 27, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Comments Off on Jim Willie: Three Days of Jackass

Jim Willie: Sordid Saudi Signals

  • Jim Willie: Sordid Saudi Signals
    by Jim Willie, http://www.goldenjackass.com/, via http://www.goldseek.com/
    THE US-SAUDI ARMS DEAL
    THE SAUDI ARMS DEAL SUDDENLY TRIPLED IN SIZE WITH LONG TIME SCHEDULE WITHIN THE AGREEMENT… TRUMP COMPLETED THE SINGLE LARGEST ARMS DEAL IN US-HISTORY, DONE WITH SAUDI ARABIA… IT EXCEEDED THE PREVIOUS COMMITMENT FROM TWO WEEKS AGO, NOW WORTH $350 BILLION… WITNESS US-STYLE ECONOMIC STIMULUS, THE TOXIC WAY… THE USGOVT SUPPORTS THE FADING SAUDI KINGDOM, SUPPORTS THEIR VICIOUS YEMEN WAR, AND APPLAUDS THEIR SUPPORT OF ISIS TERROR… THE USGOVT IS ENCOURAGING THE FORMATION OF A GULF REGION NATO, SURELY DEDICATED TO US-ARMS SUPPLY… CURIOUS THE PAYMENT METHOD TO COME, WITH CONJECTURE.


    The USMilitary-industrial complex has come to the rescue of USEconomy with the massive arms sale to the world’s biggest purchaser of weapons, namely Saudi Arabia. Beyond the glitz and royal pageantry, President Trump’s visit to Saudi Arabia in all likelihood had a main purpose to sell weapons, and to complete a gigantic $350 billion over the next decade. It will have weapon orders filled over time. In turn, the Saudi Royals have promised to invest $billions in the United States as well and to make other commitments designed to placate Trump. The pablum on the official line is that the first phase, with $109.7bn in weapons purchases, will boost Saudi Arabia’s defense capabilities, bolstering their security services in the face of extreme terrorist groups, and the new threats from Iran. The White House added that the deal will create defense jobs while also reaffirming America’s commitment to Saudi Arabia. What a load of rubbish! The Saudis created the Yemen War in order to steal their neighbor’s energy deposits, thus creating a critical situation with consequent certain backfire. The USGovt support of Saudi Arabia goes hand in hand with desperate clinging to the Petro-Dollar. The defacto standard is in its final phase of demise. So the USGovt pledges support to the entire Gulf set of partners, which means the oil monarchies. If the kings and princes do not respond with overt support, they risk being murdered, or having untold terrorism unleashed on their people.

    read more.

end

May 25, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Comments Off on Jim Willie: Sordid Saudi Signals

China Is About To Unleash A New Global Monetary System

  • China Is About To Unleash A New Global Monetary System
    by http://www.kingworldnews.com
    In case anyone was wondering what the Chinese government is thinking, they are about to unleash a new global monetary system.

    The Greatest Bull Market In Gold
    Stephen Leeb:  “If you’re a gold investor fretting at the metal’s seeming drowsiness, don’t worry. A lot has been happening lately that brings us closer to the launch of a great bull market in gold that will be unmatched in its sweep and longevity. The biggest mistake you can make now would be to get shaken out of your gold (and silver) positions if gold continues to tread water or possibly even dips below $1,200. The second-biggest mistake would be to not take advantage of near-term weakness to add to your holdings…


    read more.

end

May 17, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Comments Off on China Is About To Unleash A New Global Monetary System