Socio-Economics History Blog

Socio-Economics & History Commentary

EU Pushes for Broader Global Use of Euro, De-Dollarization

  • PressTV Published on Dec 5, 2018
    The European Commission has unveiled its plans to reduce the E-U dependence on the U-S dollar and to strengthen the role of the euro. The commission called on companies and states to increase their use of the euro in energy contracts. It said it would study possible measures to promote the E-U currency in financial and commodity markets. According to the commission, the share of the euro in global holdings of foreign exchange reserves currently stands at around 20 percent. The U-S dollar, by comparison, is over 60 percent. The move follows the U-S withdrawal from the 20-15 Iran nuclear deal. That has forced many European companies to stop trading with Iran to avoid U-S sanctions.


December 7, 2018 Posted by | Economics | , , , , , , | Leave a comment

Amid Middle East Realignment & Saudi Blockade, Qatar Withdraws from OPEC

  • TheRealNews Published on Dec 4, 2018
    Qatar is withdrawing from oil organization OPEC, while Saudi Arabia continues its blockade. Colonel Larry Wilkerson says this is part of a larger realignment in the Middle East, as Turkey exerts more influence.


December 6, 2018 Posted by | GeoPolitics | , , , , , , , | Leave a comment

Cracks Appearing…Next Crisis Will Be Worse | Chris Martenson

  • SilverDoctors Published on Dec 4, 2018
    Bubbles burst from the “outside in,” Chris Martenson says. And that’s what we’re seeing right now. Cracks are appearing on the outside. Many junk rated debt and periphery country’s stock markets are in bear markets. Watch out for the crisis to seek into the bigger sectors. The economy cannot grow exponentially in a finite world. An infinite model cannot run on a finite sphere. By 2020 – 2022, a major energy crisis will hit in oil, Martenson says. How can we move out of the current infinite growth financial paradigm? Stay tuned to find out!


December 6, 2018 Posted by | Economics | , , , , , , , , , , , | Leave a comment

No Oil Will Go Through Persian Gulf if US Targets Iran’s Crude Exports: Iran President Rouhani

  • PressTV Published on Dec 4, 2018
    President Hassan Rouhani has reaffirmed that the United States will not be able to stop Iran’s oil sales, warning that no crude will find its way out of the Persian Gulf should Washington attempt to target Iranian crude exports.


December 5, 2018 Posted by | Economics, GeoPolitics | , , , , | Leave a comment

Jim Willie Thanks-Giving Broadcast TFMetals Report

Click on image to play the MP3 interview.


    November 22nd:  topics covered include the breakdown of Deutsche Bank with all the horrific fallout which could serve as the lit fuse for the next Global Financial Crisis, the USGovt deficit enormous problem characterized by current borrowing costs exceeding all tax revenue income that indicates Third World status, the high risk to Wall Street banks from the declining crude oil price whereby the big banks have credit exposure to the suicidal shale sector, the theft of $3 trillion in USTreasury Bonds owned by the Saudis as part of the Petro-Dollar Recycling practice whose assets are locked in the Exchange Stabilization Fund, the rising threat of both a US stock and US bond market severe decline triggered by rising interest rates, and the landmark precedent setting court cases like Monsanto loss (glyphosate & cancer) and like RFKennedy Jr victory against Vaccines (no USGovt efficacy) and like 5G tower victory case in London (installers & radiation), all of which provided open doors for class action lawsuits in the multiple $billions immediately.


November 23, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

‘Ironic that US Sanctions Those Who Defeated ISIS While Claiming It’s Fighting Terrorism’ – Prof

  • RT Published on Nov 22, 2018
    The US has introduced sanctions against what it called a network of petroleum shipments to Syria, including Russian and Iranian companies and individuals. Washington says it wants to disrupt shipments to Syrian-owned ports.

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Leaflet: US warning to ISIS terrorists to run away as airstrikes coming, abandon oil trucks. Click on image to goto Department of Defense statement: “.. these are the leaflets that we dropped — about 45 minutes before the airstrikes actually began.”


November 23, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Is This Beginning Of The End Of The Central Bank Currency System

  • X22Report Published on Nov 9, 2018
    UK retail apocalypse deepens, US retail follows, the retail industry is imploding. UMich sentiment is declining, people are starting to realize that the economy is not what it seems. The Federal Reserve is on track to raise the rates come this Dec, in 2019 they will be raising multiple times. Saudi Arabia is now thinking about getting rid of OPEC. Is this beginning of the end of the petrodollar.


November 10, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Will Iran Sanctions Force World to De-Dollarize?

  • RT America Published on Nov 6, 2018
    Anya Parampil reports on new US sanctions targeting Iran as well as efforts from the international community, including Russia, China, and Europe, to sidestep the new rules. Anya talks to Mohammad Marandi, Professor at the University of Tehran, about how Trump’s policies could lead to the isolation of the United States, as countries work to de-dollarize.


November 7, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

Why It’s Vital to Save the Iran Nuclear Deal

  • Why It’s Vital to Save the Iran Nuclear Deal
    by Wang Lei,
    For all practical purposes, Iran has been driven to a corner since the United States withdrew from the 2015 Iran nuclear deal and re-imposed sanctions on the Middle East country. The first phase of sanctions targeting Iran’s non-energy trade went into effect on Aug 6. In the second phase, the Trump administration announced on Friday that it will reimpose sanctions on Iran that were lifted under the historic Iran nuke deal.

    Because of the US’ withdrawal from the Iran nuclear deal and subsequent re-imposition of sanctions, the fear of confrontations between Iran and the US, and among Iran, Israel and Saudi Arabia have increased and the situation in the Middle East is worsening.

    Due to the restrictions on Iran’s oil exports, there has been a shortage of oil supply in the international market. The situation could worsen in the short term because it is difficult for other oil-producing countries to fill supply gap caused by “absence” of one of the world’s largest oil suppliers.

    Besides, the regional and international orders both could change, as the US sanctions would impede Iran’s risepushing the country toward traditional allies such as Russia and Syria – and Hezbollah in Lebanon. Worse, sectarianism and the zero-sum political game will rise again in the Middle East while multilateralism and security cooperation emphasized in the Iran nuclear deal would suffer.

    Moreover, saving the Iran nuclear deal is difficult. Even though the US’ requirement of totally blocking Iran’s oil exports cannot be met, countries such as Japan, India and Turkey have reduced oil imports from Iran, and several multinational companies have stopped operations in Iran.

    Iran still wants to save the nuclear deal, but it expects other countries that signed the deal to “compensate its losses” due to the US sanctions. Iranian President Hassan Rouhani has also indicated Iran could stop exporting oil to the whole region in protest against the US sanctions.

    Other signatories to the Iran nuclear deal can hardly compensate for Iran’s losses due to the US sanctions. True, the European Union is willing to partly compensate for Iran’s losses, but the different stances of EU countries on and the US’ withdrawal from the Iran nuclear deal have made it difficult to save the historic deal.

    read more.


November 5, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

8 Nations Allowed to Keep Buying Iranian Oil

  • Quite obviously, USA has lost this round and are backing down.
  • PressTV Published on Nov 2, 2018
    The US has agreed to let eight countries including, Japan, India and South Korea keep buying Iranian oil after Washington re-imposes sanctions on Tehran from next week. Bloomberg has cited a senior White House official as saying the waivers are aimed at preventing a rise in oil prices. The official, however, said the waivers are temporary. The Iranian Oil Ministry said this shows the country’s crude is needed and could not be withdrawn from the market. The US sanctions targeting Iran’s oil sector will come into effect on November the fifth. Washington had previously told its allies to cut all oil purchases from Iran to zero. It had also threatened to punish firms that continue business with Iran when sanctions are reintroduced.


November 3, 2018 Posted by | Economics, GeoPolitics | , , , , | Leave a comment

‘Petrodollar’ Exposed: The Root of Special US-Saudi Relationship

  • RT America Published on Nov 1, 2018
    In a special segment, Anya Parampil speaks with In Question producer Kei Pritsker to examine the roots of the special relationship between Saudi Arabia and the United States. Kei explains how the alliance is based on Saudi’s ability to manipulate global oil markets through its petrol production, as well as the fact that Riyadh saved the US dollar following the collapse of the gold standard in 1971. Saudi’s decision to only accept the dollar for oil purchases in 1974 breathed new life into the US currency, the viability of which was in question following the Nixon Gold Shock.


November 3, 2018 Posted by | Economics, GeoPolitics, History | , , , , , , , , , , | Leave a comment

The US Dollar Is DONE! China & Saudi Arabia Will Trade Oil In Yuan

  • World Alternative Media Published on Oct 25, 2018
    Josh Sigurdson talks with author and economic analyst John Sneisen about the currency swaps happening across the board as China convinces Saudi Arabia to trade oil in Yuan. For years, Saudi Arabia has traded with China in US Dollars, the world reserve currency, frustrating China. Well now, as the US dollar sees its inevitable precipice, China says they will compel Saudi Arabia to trade oil in Yuan! If this is done, most experts believe the rest of the oil market will move with them. China has been attempting to establish itself as the world reserve currency for quite some time as power incrementally shifts. It’s a massive phenomenon that’s not likely to stop any time soon.

    Saudi Arabia is the kingpin of OPEC and the IMF is looking to base its headquarters in China in the next few years if all works out as planned. This isn’t to mention the fact that China is pushing its centrally planned digital currency system or cashless society as the state gets more technocratic by the day, pushing social credit scores and examining every square foot with facial recognition technology. Individuals must decentralize and find a way out of this dependent system or being forced into it with little recourse. Self sustainability and independence is key!


October 27, 2018 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

End of Petrodollar? U.S. Allies Pivot East Toward Russia And China

October 26, 2018 Posted by | Economics | , , , , , , , , | Leave a comment

Saudis Threaten Trump: ‘You Want $400 Oil?’

  • RonPaulLibertyReport Published on Oct 15, 2018
    President Trump’s threat of “severe” repercussions if the Saudis are found to have killed journalist Jamal Khashoggi were met with more threats from the Saudi side, including from a media figure close to the royal family who warned of high oil prices and a shift of alliances. Meanwhile Secretary of State Pompeo is in the air heading to Saudi Arabia to get to the bottom of the missing journalist.


October 19, 2018 Posted by | Economics, GeoPolitics | , , , | Leave a comment

Huge!! Petrodollar Collapse? Saudi Arabia Warns $200 Barrel Oil?!

  • US sanctions on Riyadh would mean Washington is stabbing itself
    by Turki Aldakhil,
    I read the Saudi statement in response to the American proposals regarding sanctions on Saudi Arabia. The information circulating within decision-making circles within the kingdom have gone beyond the language used in the statement and discuss more than 30 potential measures to be taken against the imposition of sanctions on Riyadh. They present catastrophic scenarios that would hit the US economy much harder than Saudi Arabia’s economic climate.

    If US sanctions are imposed on Saudi Arabia, we will be facing an economic disaster that would rock the entire world. Riyadh is the capital of its oil, and touching this would affect oil production before any other vital commodity. It would lead to Saudi Arabia’s failure to commit to producing 7.5 million barrels. If the price of oil reaching $80 angered President Trump, no one should rule out the price jumping to $100, or $200, or even double that figure.

    An oil barrel may be priced in a different currency, Chinese yuan, perhaps, instead of the dollar. And oil is the most important commodity traded by the dollar today. All of this will throw the Middle East, the entire Muslim world, into the arms of Iran, which will become closer to Riyadh than Washington.

    There are simple procedures, that are part of over 30 others, that Riyadh will implement directly, without flinching an eye if sanctions are imposed. This is all when it comes to oil, but Saudi Arabia is not just about oil, it is a leader in the Muslim world with its standing and geographical importance. And perhaps trusted exchange of information between Riyadh and America and Western countries will be a thing of the past after it had contributed to the protection of millions of Westerners, as testified by senior Western officials themselves.

    Imposing any type of sanctions on Saudi Arabia by the West will cause the kingdom to resort to other options, US President Donald Trump had said a few days ago, and that Russia and China are ready to fulfill Riyadh’s military needs among others. No one can deny that repercussions of these sanctions will include a Russian military base in Tabuk, northwest of Saudi Arabia, in the heated four corners of Syria, Israel, Lebanon and Iraq.

    At a time where Hamas and Hezbollah have turned from enemies into friends, getting this close to Russia will lead to a closeness to Iran and maybe even a reconciliation with it.

    It will not be strange that Riyadh would stop buying weapons from the US. Riyadh is the most important customer of US companies, as Saudi Arabia buys 10 percent of the total weapons that these US companies produce, and buys 85 percent from the US army which means what’s left for the rest of the world is only five percent; in addition to the end of Riyadh’s investments in the US government which reaches $800 billion.

    The US will also be deprived of the Saudi market which is considered one of the top 20 economies in the world. These are simple procedures that are part of over 30 others that Riyadh will implement directly, without flinching an eye if sanctions are imposed on it, according to Saudi sources who are close to the decision-makers.

    The truth is that if Washington imposes sanctions on Riyadh, it will stab its own economy to death, even though it thinks that it is stabbing only Riyadh!


October 17, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment