Socio-Economics History Blog

Socio-Economics & History Commentary

China To Test Trade Petro-Yuan Oil Contracts THIS WEEKEND

Click on image for article.

  • China To Test Trade Petro-Yuan Oil Contracts THIS WEEKEND
    Bloomberg just went full Petro-yuan. There’s just one glaring omission. Here’s the details… One of the main understandings a person gets when they wake up to gold and silver is the inevitable death of the Petro-dollar.

    By now most in the precious metals space should be keen on the fact that China is the up-and-comer in the gold market. From the Shanghai Gold Exchange roll-out last year, and the IMF SDR basket inclusion the year before, China has been rising with it’s role in global finance. If there was a theme to China this year, it would be the highly polarizing rise of the Petro-yuan theme. Today this theme has come front and center in the MSM. Here’s Bloomberg just today:

    China’s moves to set up trading oil in yuan have sparked enthusiasm about what could be a shift in the global financial system: a reduced role for the U.S. dollar. Players like Adam Levinson, founder of hedge fund Graticule Asset Management Asia, call it a “huge story” to come.

    But with policy makers prioritizing market stability over internationalization, plans laid back in 2012 to start oil-futures trading priced in yuan or dollars in Shanghai that year are still pending. The latest from the city’s International Energy Exchange: it’s coming soon, with test trades scheduled this weekend.

    Let’s stop there for a moment. Notice the key words “market stability”. Note to self: The Fed has a mandate for “price stability”. Interesting. Secondly, they will begin test trades this weekend. Interesting. Bloomberg continues:

    As the world’s largest energy consumer and an increasing source of investment capital for oil-producing nations, China has an interest in using its own currency rather than that of a geopolitical competitor. One hurdle for setting up a rival to Brent or West Texas Intermediate: Overseas oil producers and traders would need to swallow China’s capital controls and penchant for occasional market interventions.

    Hmmm: Overseas oil producers and traders will need to swallow ‘capital controls’ and ‘occasional market interventions’? I’m sure oil producing countries would take those headaches and even losses eight days a week rather than having the war machine of the United States bombing their lands into the stone age all the while occupying their lands either before or after the fact.

    read more.


December 7, 2017 Posted by | Economics, GeoPolitics | , , , , , | Leave a comment

Dual Universe Of The Petro Yuan And Petro Dollar Has Arrived, It’s All About To Change: Jim Willie

December 6, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Jim Willie: Saudi Arabia Buying Time

Click on image for MP3 audio interview.

  • Jim Willie: Saudi Arabia Buying Time
    Ochelli Effect 12-1-2017 Jim Willie
    He’s Baaaack! Jim Willie , The editor-in-cheif and founder of The Hat Trick Newsletter & un-packs the recent palace intrigues in the kingdom of oil and everything else greasy.  Saudi Arabia Buying Time ? We are privileged to get Jim’s take on many shell games being run in the grand casino of financial fun and games on a global scale. How and Why are the Saudi Royals “Buying Time”? Listen and find out. Also is there a connection to other publicly covered events in other deserts? By the Way , Is there a PhD thesis that Jim could , should , would destroy if he took his Golden Jackass Flamethrower to it ? Never bet against Willie The Jackass , He’ll beat you by at least a Hat Trick.


December 3, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

The Dollar Is Finished, The Central Bankers Are Moving Us To A New System: Brandon Smith

November 26, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Willie: Give Thanks and Pass the Jackass

Click on image to play interview MP3 file!

  • Jim Willie: Give Thanks and Pass the Jackass
    by Turd Ferguson,
    In a holiday tradition here at TFMR, our old pal Jim Willie returns today to discuss a wide range of issues with questions posed by listeners in our A2A webinar format.

    Following an initial, 30-minute discussion of the significance of the recent events in Saudi Arabia, The Jackass spends nearly an hour fielding questions directly from the audience. Among the topics covered:

    * the growing economic conflict between the US and “the Eurasian Alliance”
    * the Swiss banks and shortages of allocated gold
    * reports of US intervention to allow ISIS terrorists to escape Raqqa
    * that “The Big Reset” has already begun, you likely just haven’t noticed
    * the Saudi Aramco IPO and what it signifies
    * Jim’s preferred asset allocation mix
    * and, in true Jackass free-form style, a whole lot more in between

    This baby checks in at 85 minutes. At an average speed of 70 mph, that means you can cover nearly 100 miles of drive time while listening on your way to your in-laws! For everyone else, maybe break it up into segments so that you don’t miss anything.


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

US ‘Empire of Debt’ Will go to War to Stop Emergence of Petro-Yuan – Max Keiser

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

Saudi Arabia Wants to Kill the Petrodollar – Economist

  • Saudi Arabia Wants to Kill the Petrodollar – Economist
    The United States and Saudi Arabia are so interdependent that a rift would mean disaster for the petrodollar system and the greenback’s reserve currency status, warns economist Brandon Smith. He is sure Riyadh is planning to ditch the dollar.

    “I believe the next phase of the global economic reset will begin in part with the breaking of petrodollar dominance. An important element of my analysis on the strategic shift away from the petrodollar has been the symbiosis between the US and Saudi Arabia. Saudi Arabia has been the single most important key to the dollar remaining as the petrocurrency from the very beginning,” 
    Smith wrote in an article for his website

    The site claims its goal is to “facilitate barter networking and the exchange of knowledge and ideas for thriving in a faltering monetary environment.”

    According to the economist, Saudi Arabia’s Crown Prince Mohammed Bin Salman has been seeking ways of cutting dependence on the US dollar. Smith says the country’s Vision 2030 program may be not about reducing oil’s share in the economy, but killing the petrodollar.

    “Prince Mohammed’s revolutionary “Vision for 2030” developed as he entered power was touted as a means to end Saudi reliance on oil revenues to support economic stability. However, I believe this plan is NOT about ending reliance on oil, but ending reliance on the US dollar. In fact, the plan indicates a move away from the dollar as the world’s petrocurrency and a de-pegging of the riyal from the dollar,”
     he wrote.

    A 1974 agreement between US President Richard Nixon and Saudi King Faisal meant Riyadh has been accepting dollars for all its oil exports.

    “Prince Mohammed has also established much deeper ties to Russia and China, creating bilateral agreements which may end up removing the dollar as the mechanism for oil trade between the nations,”
     Smith added.


November 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

Timing the Collapse: Ron Paul Says Watch the Petrodollar

  • Timing the Collapse: Ron Paul Says Watch the Petrodollar
    by Nick Giambruno, Senior Editor,
    “The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better.” (emphasis mine)
    ~ Ron Paul

    What Ron Paul is referring to here is the petrodollar system. It’s one of the main pillars that’s been holding up the US dollar’s status as the world’s premier reserve currency since the breakdown of Bretton Woods.

    Paul is essentially saying that, if we want to better understand the answer to the elusive question of “When will the fiat US dollar collapse?“, we have to watch the petrodollar system and the factors affecting it.

    At the recent Casey Research Summit, I had the chance to speak extensively with Dr. Paul on this subject, and he told me that he stands by his assessment. I believe this is critically important, because once the dollar loses this coveted status, the window of opportunity to take preventative action will definitively shut for Americans.

    At that moment, I believe the US government will become sufficiently desperate and implement the destructive measures that governments throughout the world and throughout history have all taken (overt capital controls, wealth confiscations, people controls, price and wage controls, pension nationalizations, etc.)

    But it’s not just the financial implications that need to be considered. The destruction of the dollar is going to wipe out the wealth of a lot people, and that will cause political and social consequences that will likely be worse than the financial consequences. The three points to understand here are:

    read more.


November 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Willie: Entire Western System Infected with Satanism. End of Petrodollar

    November 17th:  topics covered include the Global Paradigm Shift of financial insolvency and debt saturation in the West versus the infra-structure development and non-USD platforms in the East, the three global breakdown elements 1) crumbling Petro-Dollar with diverse ramifications, 2) failing banking system propped by QE hyper inflation, 3) development of Eurasian Trade Zone with One Belt One Road as massive diversion from the USDollar Sphere, the retirement of the Petro-Dollar that leads to quickening of events in the financial structures and geopolitical framework, the slipped power of the USMilitary with vulnerable Aegis system, the US/ Western political factions at work with President Trump versus the Fascist NeoCons, the rise of the Dual Universe (USD vs RMB) to be tolerated by the USGovt finally, the return of German trade ventures with Russia, the potential for European Union breakup with focus on Italy and France, the gold price suppression to crash up against the Gold Trade Note.


November 18, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Saudi Coup Signals War And The New World Order Reset

  • Saudi Coup Signals War And The New World Order Reset
    by Brandon Smith,
    For years now, I have been warning about the relationship of interdependency between the U.S. and Saudi Arabia and how this relationship, if ended, would mean disaster for the petrodollar system and by extension the dollar’s world reserve status. In my recent articles ‘Lies And Distractions Surrounding The Diminishing Petrodollar’ and ‘The Economic End Game Continues,’I point out that the death of the dollar as the premier petrocurrency is actually a primary goal for establishment globalists. Why? Because in an effort to achieve what they sometimes call the “global economic reset,” or the “new world order,” a more publicly accepted centralized global economy and monetary framework is paramount. And, this means the eventual implementation of a single world currency and a single global economic and political authority above and beyond the dollar system.

    But, it is not enough to simply initiate such socially and fiscally painful changes in a vacuum. The banking powers are not interested in taking any blame for the suffering that would be dealt to the masses during the inevitable upheaval (or blame for the suffering that has already been caused). Therefore, a believable narrative must be crafted. A narrative in which political intrigue and geopolitical crisis make the “new world order” a NECESSITY; one that the general public would accept or even demand as a solution to existing instability and disaster.

    That is to say, the globalists must fashion a propaganda story to be used in the future, in which “selfish” nation-states abused their sovereignty and created conditions for calamity, and the only solution was to end that sovereignty and place all power into the hands of a select few “wise and benevolent men” for the greater good of the world.

    I believe the next phase of the global economic reset will begin in part with the breaking of petrodollar dominance. An important element of my analysis on the strategic shift away from the petrodollar has been the symbiosis between the U.S. and Saudi Arabia. Saudi Arabia has been the single most important key to the dollar remaining as the petrocurrency from the very beginning.

    The very first oil exploration and extraction deal in Saudi Arabia was sought by the vast international oil cartels of Royal Dutch Shell, Near East Development Company, Anglo-Persian, etc., but eventually fell into the hands of none other than the Rockefeller’s Standard Oil Company. The dark history of Standard Oil aside, this meant that Saudi business would be handled primarily by American interests. And the Western thirst for oil, especially after World War I, would etch our relationship with the reigning monarchy in stone.

    read more.

Click on image for article.

Click on image for article.

Click on image to goto article.


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

How the Developments in Saudi Arabia May Foretell Collapse of Petrodollar

  • How the Developments in Saudi Arabia May Foretell Collapse of Petrodollar
    Saudi Arabia’s crown prince Mohammed bin Salman has vowed to return his country to “moderate Islam”; the pledge was followed by the dismissal and detainment of many of the country’s high-profile princes and businessmen. Turkish energy analyst Dr Volkan Ozdemir commented that it is not about politics but rather about economics and petrodollars.

    In his interview with Sputnik Turkiye, Volkan Ozdemir, the Chairman of Ankara-based EPPEN (Institute for Energy Markets and Policies), said that Riyadh is possibly cleaning out the opponents to the oil trade in US dollars and the changes the country is currently living through could be viewed as part of the US’ attempt to fight against a strengthening China.

    His comments refer to the latest developments in Saudi Arabia, with numerous dismissals and reshuffling of the country’s government. Dr Ozdemir recalled that Saudi Arabia remains the world leader in oil exports – producing about 10 million barrels per day and exporting about 7 million barrels daily.

    “For the last 44-45 years, the petrodollar system has been ruling the world, which means that the international oil trade had been mostly paid for in US dollars. It stems from the Middle Eastern crises of the 1970s, when Saudi Arabia bound itself to selling oil only in US dollars. Given that Saudi oil has played the major role in the US dollar becoming the world’s reserve currency, the US turned into the guarantor of the security of Saudi Arabia. Being the world’s reserve currency, the US dollar has remained the foundation of the US’ global hegemony,” the expert explained.

    read more.


November 16, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment

Petro Dollar Is In The Process Of Being Shutdown To Make Way For The New Currency: Bix Weir

Click on image for article.

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!

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

Jim Willie: Fall of the House of Saud, Finally

  • Fall of the House of Saud, Finally
    by Jim Willie CB,, via
    The Saudi Kingdom will fall, a longstanding Jackass forecast, an inevitable event
    The Saudi Kingdom will fall alongside the ruined collapsing Petro-Dollar
    The Saudi foundation has been the primary element to entire Petro-Dollar system
    This Saudi situation is loaded with intrigue, corruption, cunning, collusion, criminality
    The Saudi region will erupt in chaos ruin decay and gross destabilization
    The entire Saudi situation is a grand mixture of deep corruption and wreckage
    The Saudi Royals will scatter and escape with stolen wealth, an absolute guarantee
    The old guard like Prince al-Waleed are Citigroup investors and Wall Street friends
    US will knock off princes to continue the USD, and to prevent deviation toward the East
    Iran will knock off princes to stop the Yemen War, and to halt ISIS
    Iran has a new vested interest, to avoid the spread of war to Lebanon
    The US will deploy its usual terrorism, via Langley and ISIS tool
    Iran will use the Yemeni violent anger for a rapacious invasion by the Saudi thugs

    Head of Saudi National Guard is dead
    Crown prince Mohammed bin Salman captured the national media
    Significant figure Prince Bandar is under arrest, his wealth frozen
    Bandar is the key link in Bush Family for narcotics in the Saudi connection
    Entire Bush-Clinton Crime Family is falling apart, in the process of being exposed

    read more.


November 14, 2017 Posted by | GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , | Leave a comment

If The Saudi Arabia Situation Doesn’t Worry You, You’re Not Paying Attention

  • If The Saudi Arabia Situation Doesn’t Worry You, You’re Not Paying Attention
    by Chris Martenson,
    A key geopolitical axis is swiftly shifting
    While turbulent during the best of times, gigantic waves of change are now sweeping across the Middle East. The magnitude is such that the impact on the global price of oil, as well as world markets, is likely to be enormous.

    A dramatic geo-political realignment by Saudi Arabia is in full swing this month. It’s upending many decades of established strategic relationships among the world’s superpowers and, in particular, is throwing the Middle East into turmoil.

    So much is currently in flux, especially in Saudi Arabia, that nearly anything can happen next. Which is precisely why this volatile situation should command our focused attention at this time. The main elements currently in play are these:

    * A sudden and intense purging of powerful Saudi insiders (arrests, deaths, & asset seizures)
    * Huge changes in domestic policy and strategy
    * A shift away from the US in all respects (politically, financially and militarily)
    * Deepening ties to China
    * A surprising turn towards Russia (economically and militarily)
    * Increasing cooperation and alignment with Israel (the enemy of my enemy is my friend?)

    Taken together, this is tectonic change happening at blazing speed. That it’s receiving too little attention in the US press given the implications, is a tip off as to just how big a deal this is — as we’re all familiar by now with how the greater the actual relevance and importance of a development, the less press coverage it receives. This is not a direct conspiracy; it’s just what happens when your press becomes an organ of the state and other powerful interests. Like a dog trained with daily rewards and punishments, after a while the press needs no further instruction on the house rules.

    It does emphasize, however, that to be accurately informed about what’s going on, we have to do our own homework. Here’s a short primer to help get you started.

    read more.


November 13, 2017 Posted by | GeoPolitics | , , , , , , , , , , , , | Leave a comment

Jim Willie: The Saudi Straw That Broke the Petro Dollar’s Back


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