Socio-Economics History Blog

Socio-Economics & History Commentary

7 Alarming Signs The U.S. Dollar Is Doomed – Jerry Robinson

  • Follow the Money Published on Sep 20, 2017
    Summary: With the value of the U.S. dollar tumbling by more than 10% YTD and the U.S. national debt officially topping $20 trillion for the first time in history, I’ll share 7 signs that reveal much more downside lies ahead for the world’s leading currency. And later, Tom Cloud shares why he believes silver could reach $19 by the end of this year, and, in response to a listener question, financial advisor Mike Mitchell reveals the best income stream that you can create for your retirement. In the end, no world power lasts forever. Kingdoms come and kingdoms go. Empires rise and empires fall.  Of course, you know what they say… The bigger they are, the harder they fall. So in America’s case, our fall will be great. Are you ready? 

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

Blockchain to Merge with Physical Precious Metals | Rob Kirby

  • Reluctant Preppers Published on Sep 19, 2017
    Rob Kirby answers YOUR viewer questions in this rapid-fire interview, spanning: politics, the Chinese & global pivot away from the US Petrodollar, whether US Treasuries’ days are numbered, whether Gold & Silver price suppression is just a conspiracy theory or a proven fact, and whether Blockchain and crypto-currencies contain fatal flaws, or are ushering in a revolution of integrity for money in the world ahead!

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September 21, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , | Leave a comment

Putin Orders End To US Dollar Trade At Russian Seaports

  • Putin Orders End To US Dollar Trade At Russian Seaports
    by Tyler Durden, http://www.zerohedge.com/
    Whether in response to rising scorching tensions with the US, or simply to provide support for the ruble, on Tuesday Russian President Vladimir Putin instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, RT reported citing the Kremlin website.

    The head of Russian antitrust watchdog FAS Igor Artemyev, many services in Russian seaports are still priced in US dollars, even though such ports are state-owned. So, in order to “protect the interests” of dockworkers and their complyees with foreign currency obligations, the government was instructed to set a transition period before switching to ruble settlements.

    read more.
https://www.rt.com/business/403465-dollar-end-china-crude-rogers/

Click on image for article.

https://sputniknews.com/politics/20160915/1045341538/gold-yuan-china-dollar-eurasia.html

Click on image for article.

https://www.rt.com/business/319938-putin-dollar-oil-trade/

Click on image for article.

http://www.rt.com/business/314732-china-oil-contracts-dollar-yuan/

The Satanic WW3 drums will escalate. Watch for explosions, ‘accidents’ … in China. Click on image for article.

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September 20, 2017 Posted by | Economics | , , , , , | Leave a comment

Gold Oil Dollars Russia and China: The Death of the Petro-Dollar

  • Gold Oil Dollars Russia and China: The Death of the Petro-Dollar
    by F. William Engdahl, https://journal-neo.org/
    The 1944 Bretton Woods international monetary system as it has developed to the present is become, honestly said, the greatest hindrance to world peace and prosperity. Now China, increasingly backed by Russia—the two great Eurasian nations—are taking decisive steps to create a very viable alternative to the tyranny of the US dollar over the world trade and finance. Wall Street and Washington are not amused, but they are powerless to stop it.

    Shortly before the end of the Second World War, the US Government, advised by the major international banks of Wall Street, drafted what many mistakenly believe was a new gold standard. In truth, it was a dollar standard in which every other member currency of the International Monetary Fund countries fixed the value of their currency to the dollar. In turn, the US dollar was fixed then to gold at a value equal to 1/35th of an ounce of gold. At the time Washington and Wall Street could impose such a system as the Federal Reserve held some 75% of all world monetary gold as a consequence of the war and related developments. Bretton Woods established the dollar which then became the reserve currency of world trade held by central banks.

    Death Agony of a Defective Dollar Standard
    By the end of the 1960’s with soaring US Federal budget deficits from costs of the Vietnam War and other foolish spending, the dollar standard began to show its deep structural flaws. A recovered Western Europe and Japan no longer needed billions of US dollars for financing reconstruction. Germany and Japan had become world class export economies with higher efficiency than US manufacturing owing to a growing obsolescence of US basic industry from steel to autos and basic infrastructure. Washington should then have significantly devalued the dollar against gold in order to correct the growing world trade imbalance. Such a dollar devaluation would have boosted US manufacturing export earnings and reduced the trade imbalances. It would have been a huge pus for the real US economy. However for Wall Street banks it spelled huge losses. So instead, the Johnson and then Nixon administrations printed more dollars and in effect exported inflation to the world.


    The central banks of especially France and Germany reacted to the deafness in Washington by demanding US Federal Reserve gold for their US dollar reserves at $35 per unce s in the Bretton Woods 1944 agreement. By August 1971 the redemption of gold for inflated US dollars had reached a crisis point where Nixon was advised by a senior Treasury official, Paul Volcker, to rip up the Bretton Woods system.

    By 1973 gold was allowed by Washington to trade freely and was no longer the backing of a sound US dollar. Instead, an engineered oil price shock in October 1973 that sent the dollar price of oil higher by 400% in a matter of months, created what Henry Kissinger then called the petrodollar.

    read more.

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September 19, 2017 Posted by | Economics, GeoPolitics, History | , , , , , , , , , , , , , , , , , , , | Leave a comment

Putin: BRICS Ready to Challenge US Dollar as Global Reserve Currency

  • Putin: BRICS Ready to Challenge US Dollar as Global Reserve Currency
    by http://www.cetusnews.com/
    Russia is ready to join forces with its partners to counter excessive domination’ of the limited number of reserve currencies, Russian President Vladimir Putin said in his article in the run-up of the BRICS summit published on Friday.

    Russia is ready to join forces with its partners to counter excessive domination’ of the limited number of reserve currencies, Russian President Vladimir Putin said in his article in the run-up of the BRICS summit published on Friday.

    “We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies. We will also work towards a more balanced distribution of quotas and voting shares within the IMF and the World Bank,” Putin said in his article, headlined “BRICS: Towards New Horizons of Strategic Partnership,” to be published by the leading media of the BRICS states (Brazil, Russia, India, China and South Africa) ahead of the group’s summit due on September 3-5 in China.

    Unfairness of global financial architecture
    According to the Russian leader, Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies.


    read more.

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

China Dollar Dump Means Hyperinflation – Chris Martenson

  • China Dollar Dump Means Hyperinflation – Chris Martenson
    by Greg Hunter’s USAWatchdog.com (Early Sunday Release)
    Resource analyst and futurist Chris Martenson says everyone should be taking notice of our “dangerous markets.” At the center of the danger zone is the declining U.S. dollar.  Martenson explains, “We are talking about a steady erosion of the dollar as a reserve currency.  I think that is most likely.  The only thing that could make that really go fast is some kind of war.  The United States and China, we got to keep our eye on this because Trump has been threatening a trade war with China.  China responded and said if you do that, we may dump the dollar. . . . So, there is all this trade and financial back and forth and maybe even actual war at some point. . . . China has the ability to really impact the dollar in a big way on the world stage.  We better hope it does not come to that because a slow erosion we can adjust to; a quick erosion is going to really roil the markets and maybe blow a few of them up.”

    Martenson contends the U.S. could see hyperinflation in a short time if China “dumps the dollar.” Martenson explains, “The way that works is let’s say they want to unload $500 billion on some Tuesday morning.  Who is going to buy that $500 billion?  Who is on the other side of that trade?  Well, if there are not enough people bidding for those dollars, the price has to fall until you find enough people to absorb those, and the dollar would fall in value against all other sorts of other things such as other currencies, oil, gold, silver and all those things. . . . We would be looking for a paired event.  What we would be looking for is interest rates starting to rise on Treasuries and the dollar starting to fall in value in value against a variety of things.  Once we see those two things, we know we have a financial war or a monetary war. . . . That’s what blows up the derivatives market.  That’s what makes difficulties for traders.  That’s what makes the high frequency computers say I don’t like this and bolt and instantly evaporate from the markets.”

    read more.

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

Petrodollar End Looming as China & Allies Dump It in Oil Trading – Jim Rogers

https://www.rt.com/business/403465-dollar-end-china-crude-rogers/

Click on image for article.

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

The Petrodollar Doomsday Clock Just Ticked Closer To Midnight

  • X22Report Published on Sep 14, 2017
    Corporate media put out a report that Trump agreed to help the dreamers, the problem is that he denies the report. US agrees with Russia on a peace keeping force in Ukraine. US sanctions on NK will not work because there is really no goal to the sanctions. Venezuela has just taken the next step and they will now sell their oil bypassing the dollar. The petrodollar doomsday clock just moved closer to midnight. Iraq parliament turns down the Kurd referendum and remove the Pro-Kurd governor. Russia deploys the Mig 29 in Syria. The IS says they will fight until the death, there will be no evacuation.

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

Game Changer! China to Buy Oil with Gold-Backed Yuan, Russia’s Backdoor Deals

  • DAHBOO777 Published on Sep 13, 2017
    The world’s top oil importer, China, is preparing to launch a crude oil futures contract denominated in Chinese yuan and convertible into gold, potentially creating the most important Asian oil benchmark and allowing oil exporters to bypass U.S.-dollar denominated benchmarks by trading in yuan, Nikkei Asian Review reports. The crude oil futures will be the first commodity contract in China open to foreign investment funds, trading houses, and oil firms. The circumvention of U.S. dollar trade could allow oil exporters such as Russia and Iran, for example, to bypass U.S. sanctions by trading in yuan, according to Nikkei Asian Review. To make the yuan-denominated contract more attractive, China plans the yuan to be fully convertible in gold on the Shanghai and Hong Kong exchanges. Learn More:

    https://www.rt.com/usa/403118-usa-chi…
    http://russia-insider.com/en/politics…
https://asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-with-oil-benchmark-backed-by-gold

Click on image for article.

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

De-Dollarization Spikes: Venezuela Stops Accepting Dollars For Oil Payments

  • De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments
    by Tyler Durden, http://www.zerohedge.com/
    Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight?

    Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports.

    As we previously noted, Venezuelan President Nicolas Maduro said last Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week. According to Reuters,

    “Venezuela is going to implement a new system of international payments and will create a basket of currencies to free us from the dollar,”
     Maduro said in a multi-hour address to a new legislative “superbody.” He reportedly did not provide details of this new proposal.


    Maduro hinted further that the South American country would look to using the yuan instead, among other currencies.

    read more.
http://www.washingtonexaminer.com/russia-us-setting-stage-for-venezuela-invasion/article/2632759

Click on image for article.

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

Jim Willie: Death of the Dollar

  • INTERVIEW WITH KATHY RUBIO
    Sept 8th:  topics covered include the various ways in the which the USDollar shows strong signs of losing its global reserve currency status, as well as several of the Biblical Seven Bowls of ruinous contamination poured upon our planet Earth….. (hint: skip the first 4 minutes as opener)

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

Dollar Decline, the Rise of China’s Gold Yuan + 5 Levels of Preparedness | Jerry Robinson

  • CRITICAL PREPARATIONS for Rise of Gold-Backed Chinese Yuan and Fall of US Dollar
    by http://www.silverdoctors.com/
    Jerry Robinson shares critical areas of preparedness that all Americans should engage in right now as the world ditches the US dollar. Sure, there may be plenty of toilet paper available, but from the most basic preps to financial readiness, Jerry has it covered…

    Jerry Robinson interviewed on Reluctant Preppers
    The subject of much resistance, even in the alternative media, the upcoming global embracing of the Chinese yuan-traded oil contract, convertible to gold on the Chinese gold exchanges, will have serious implications for people holding and using the US dollar.

    As Western and Eastern United States find out, some the hard way, that the only real time to prepare is before disaster strikes, the coming dollar collapse will have deep and lasting effects on everybody. It will be a financial disaster like no other.

    In this robust interview, Jerry and Dunagun discuss what actions every person should take right now to prepare for the inevitable. It may seem like there is still time, until all of the sudden there isn’t.

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September 13, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , | Leave a comment

The Petro-Dollar is Close to Its End

  • The Petro-Dollar is Close to Its End
    by Finian Cunningham, http://tapnewswire.com/, 8 July 2017
    China and Russia have already ditched the US dollar in their vast energy trade. Now China is leveraging Saudi Arabia to also abandon the greenback for oil sales. No wonder, it seems, that US policies are increasingly lashing out.

    US global power depends on its presumed economic prowess and military force. With its economy in long-term decline, precipitated by the teetering dollar, the US rulers are relying increasingly on militarism to project power. That tendency is pushing the world to war.

    The challenge is to somehow steer the American military monster into a safe berth without eliciting a world war.

    The US decline is of historic proportions – on par with the demise of other past empires – and it stems from the looming collapse of the petrodollar system, which has given the US unprecedented privileges over the past decades since the Second World War.

    It is no coincidence that a surge in global tensions over recent years comes at a time when the American economy is staring into an abyss. The key to the survival of the US economy as we know it is the status of the American dollar as the world’s top reserve currency.

    The so-called petrodollar system, in which the world’s most traded commodity oil and gas are conducted primarily through American currency, appears to be coming to an end. That decades-old system is being challenged by the rise of China, Russia, India, Iran and others. If the petrodollar and its global privileges are displaced then the United States is facing an economic apocalypse.

    It should be said that there is nothing illegitimate about challenging this American unipolar dominance. Why should countries be forced to conduct their international trade primarily with the US dollar owing simply to historical circumstances during the 1970s that gave rise to the petrodollar system? That system works, in effect, like a global tax that the US imposes on all other nations because they are compelled to purchase American-printed banknotes.

    Perhaps no two other countries have done more to forge a multipolar global order than China and Russia. China is the biggest oil importer and Russia is the world’s biggest fuel exporter. When they announced last year that oil trade would be henceforth conducted in their own national currencies of yuan and rouble that development marked a nail in the dollar’s coffin.

    Now, only a few weeks ago, China and Saudi Arabia – the world’s second-biggest oil producer – reportedlylaunched earnest negotiations for future energy fuel trade to be conducted in yuan. Commentators say Saudi Arabia has little choice in the matter, since China has been progressively reducing the kingdom’s market share with other oil exporters, like Russia and Iran. If the Saudis want to maintain exports to the world’s biggest economy, then they will have to do their business in Chinese currency, not the US dollar as they have customarily done.

    Randy Martin, an American political analyst, said the long-anticipated decline in the petrodollar is picking up pace.

    “The petrodollar is in decline, and consequently the entire financial system that undergirds the western economies,” Martin said. “China and Russia have laid the global economic foundation for the new ‘Silk Road’ and the emergence of a new Eurasian economy that puts the US and its petrodollar on the outside. That leaves the US dollar and its economy in tatters as long as the US insists on trying to maintain its unipolar quest for global economic dominance. To be clear, what China and Russia have successfully done is to unravel the economic foundation of US global hegemony.”

    read more.

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

Keiser Report: RIP, Petrodollar?

  • RT Published on Sep 9, 2017
    Check Keiser Report website for more: http://www.maxkeiser.com/
    In this episode of the Keiser Report, Max and Stacy ask, “RIP, Petrodollar?” China readies a yuan-priced oil benchmark backed by gold. Is this the final nail in the dollar’s coffin? In the second half, Max interviews Michael Pento of PentoPort.com to discuss the oil-gold-yuan futures contract, North Korea, hurricanes and coming market meltdowns.

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

Venezuela Plans to Drop US Dollar in Gas, Oil Trade

  • Venezuela Plans to Drop US Dollar in Gas, Oil Trade
    by https://sputniknews.com/
    Venezuelan President says that the country is going to trade in oil, gas and gold using currencies other than the US dollar.

    CARACAS (Sputnik) — Venezuelan President Nicolas Maduro said Friday his country was going to trade in oil, gas and gold using currencies other than the US dollar, in response to Washington’s new financial sanctions.

    “I have decided to start selling gas, oil, gold and other commodities sold by Venezuela using other currencies, including the Chinese yuan, the Japanese yen, the Russian ruble, and the Indian rupee,” he said in a televised address.

    The president again accused Washington of using illegal monetary and trade practices to destabilize the national economy and usher in a change of power. Venezuela has been suffering from low oil prices and major shortages of food and medicine.

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