Socio-Economics History Blog

Socio-Economics & History Commentary

Vladimir Putin Proposes “Eurasian” Currency Union!

  • Published on Mar 20, 2015
    As Telegraph reports, Putin made his proposal at a meeting with the Belarussian and Kazakh presidents which highlighted the challenges facing the Russian-led Eurasian Economic Union following the fall in global oil prices and the decline of the Russian rouble.

    “The time has come to start thinking about forming a currency union,” Mr Putin said after the talks in the Kazakh capital Astana with Belarussian President Alexander Lukashenko and Kazakh President Nursultan Nazarbayev.

    Not surprising, considering both Belarus and Kazakhstan have spent a lot of time in the past year alternatively devaluing, and scrambling to prop up their currency.…


March 21, 2015 Posted by | Economics, GeoPolitics | , , , , , , | 1 Comment

The Titanic Sinks At Dawn!

Global financial system Titanic hits iceberg!

Global financial system Titanic hits iceberg!

  • The Titanic Sinks At Dawn! 
    by , 
    What Titanic?  The RMS Titanic, or any of the following:

    * A titanic quantity of derivatives – say 1,000 Trillion dollars. A derivative crash was at the center of the 2008 market meltdown.  It could happen again since there is now more debt, leverage, and risk than in 2008.

    * A titanic accumulation of debt – global debt is approximately $200 Trillion. Global population is about 7,000,000,000 so there is about $28,000 in debt per living human being.  If global debt were backed by all the gold mined in the history of the world, an ounce of gold would back $36,000 in debt.  Gold currently sells for less than $1,200.  Gold is undervalued and there is an excess of debt.

    * A titanic increase in debt in the past decade. Official US debt increased by over $10,000,000,000,000 in the past ten years.  What did the US gain from the increase of $10 Trillion in debt?  Are debt accumulation and expense policies materially different in Europe or Japan?  Was the debt used to create productive assets or was it just flushed down the toilet into non-productive expenditures?  THE BENEFIT IS GONE, BUT THE DEBT REMAINS.  This debt accumulation policy is neither good business nor sustainable.

    * A titanic bond bubble. Since interest rates are currently at multi-generational lows, or 700 year lows in Europe, or perhaps all-time lows, that strongly suggests a bubble in bonds.  Would you buy a bond from an insolvent government knowing the government will pay you next to nothing in interest over the next ten years?  Further, the government is guaranteeing a devalued currency so any dollars, euros, or yen you eventually receive will be worth much less in purchasing power than today.

    * A titanic currency bubble in the US dollar, which just hit a 12 year high after a parabolic rise since May last year. Experience with parabolic rises suggests extreme caution.

    * A titanic collapse in the crude oil market. Supply is strong, demand is weak, and prices have fallen to about $45 from about $105 last June.  The last time crude oil prices fell was from July to October 2008, a most difficult time.

    The titanic creation of paper assets such as bonds, currencies, and stocks has created substantial risk.  That risk has spilled over into the crude oil, gold and silver markets since they are strongly influenced by the paper derivative markets – paper contracts for crude oil, paper gold, and paper silver.  Leverage and derivatives magnify risk.  The instability will eventually create a second version of the 2008 recession/depression.

    read more!


March 20, 2015 Posted by | Economics | , , , , , , , , , , , , , | 1 Comment

How Low, Will It Go? Crude Oil Continues to Fall, Now Below $43 a Barrel !

March 19, 2015 Posted by | Economics | , , | 1 Comment

Architects of Iraq War ADMIT It Was Illegal !

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  • Architects of Iraq War ADMIT It Was Illegal! 
    by WashingtonsBlog 
    “International Law … Would Have Required Us to Leave Saddam Hussein Alone”

    The chief American prosecutor for the Nuremberg war crime trials – Robert H. Jackson – stated:

    To initiate a war of aggression, therefore, is not only an international crime; it is the supreme international crime differing only from other war crimes in that it contains within itself the accumulated evil of the whole.

    Forget third-hand allegations … the architects of the Iraq war admit that they initiated a war of aggression, not a war to defend America from imminent attack.

    Influential Pentagon hawk Richard Perle conceded in 2003 that the invasion of Iraq had been illegal:

    International law … would have required us to leave Saddam Hussein alone“, and this would have been morally unacceptable.

    Indeed, U.S. government officials have admitted that everyone knew that Iraq didn’t have weapons of mass destruction. A top Bush administration adviser –  Philip Zelikow said that the Iraq war was launched to protect Israel. And the following Bush officials admitted that the Iraq war was launched for oil:

    * George W. Bush
    * Key war architect – and Under Secretary of State – John Bolton
    * Former Bush speechwriter David Frum (referring to Dick Cheney)
    * A high-level National Security Council officer
    * 4 Star General John Abizaid, the former commander of CENTCOM, with responsibility for Iraq
    * Many others

    Of course, this is “old news” (#15) … except that the U.S. did the same thing in Libya, and is now doing the same thing in Ukraine, Syria and elsewhere.

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March 19, 2015 Posted by | GeoPolitics, History | , , , , , , , , , , , , , , | 1 Comment

US Army to Conduct Massive Joint Drill with Arab Allies in Persian Gulf!

  • Published on Mar 16, 2015
    The American Central Command has said in a statement that the drill code-named ‘Exercise Eagle Resolve’ kicked off on March 8 and will last until the end of this month. About three-thousand American troops have been joined by forces from Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The drill consists of a weeklong series of simulated exercises to increase the participants’ ability to respond as a multinational headquarters staff. ‘Eagle Resolve’ was first held in the United States back in 1999.



March 17, 2015 Posted by | GeoPolitics | , , , , , , , , , , , , , | 1 Comment

The U.S. Dollar Is Going Parabolic – Something Somewhere Is Collapsing!


  • Financial derivatives contracts are priced mainly in US dollars. As the derivatives contracts are triggered, demand for US dollars will increase to settle these contracts. This will cause the US dollar to rise in value compared to other currencies. This is what we are seeing now in the US Dollar Index Chart above.
  • The U.S. Dollar Is Going Parabolic – Something Somewhere Is Collapsing! 
    Marketvane’s Bullish Consensus for the $US hit 90% yesterday.  At the beginning of March it was 83%.  Market bullish sentiment toward the dollar has not been this bullish since the turn of the millenium.  It is a very strong contrarian signal…

    The US Dollar index is going parabolic.  More often than not, markets that go parabolic will crash.  This is what happened with the dollar in 2008 (click to enlarge): (top of post)

    The common “narrative” out there is that the dollar squeeze is being fueled by European sovereign and corporate entities scrambling for dollars in order to pay dollar-denominated debt obligations. Yes, this is part of the equation. But, just like in 2008, it is a sympton of a castrophic underlying systemic problem. After all, the Fed has created close to $4 trillion in new dollars, $2.6 trillion of which are sitting in the excess reserve account of the big banks at the Fed earning interest. That’s $2.6 trillion in excess dollars that can used to fund any excess demand for dollars.

    There’s also a repo collateral short squeeze plus a vicious Treasury short-squeeze going on, especially in the middle of the curve, where the Fed has removed most of the supply. But again, these are all “symptoms” of an underlying problem. Let’s not forget that the price of oil, along with many other key economic indicators are collapsing right now.

    I believe that the collapse in the energy sector has triggered a silent derivatives counterparty bomb that we can’t see because of the intentional opacity of the OTC derivatives market. But you don’t have a 50% collapse in a key economic commodity like oil – a commodity which has $100’s of billions in OTC derivatives securities wrapped around it – without some kind of counterparty default tsunami that has been triggered. Throw on top of that the Greece situation and you have a recipe for a derivatives financial nuclear meltdown.

    Wall Street has been stunningly silent about the meltdown in the energy sector. There has not been one utterance about any derivatives connected to the situation. But we’ve seen at least two big energy junk bond issuers blow up. One of them did not even make the first interest payment on its debt. Without question there were OTC credit default swaps connected to this debt.

    The parabolic dollar “short squeeze” storyline is what they want you see. I would suggest that something much bigger and catastrophic unfolding behind that curtain…
Global financial tsunami coming??!

Global financial tsunami coming??!


March 13, 2015 Posted by | Economics | , , , , , , , , | 1 Comment

U.S. Invasion Of Venezuela Predicted ! Obama Signs Executive Order Declaring Venezuela a National Security Threat!

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March 12, 2015 Posted by | GeoPolitics | , , , , , , , , , , , , | 1 Comment

Jim Willie: Interest Rates Will Never Rise!

  • Published on Mar 6, 2015
    Jason Burack of Wall St for Main St had on returning guest, editor of the Hat Trick Letter, Jim Willie.

    During this hour+ long discussion, Jason asks Jim about why would the US declare economic war against Russia and Putin. In other words, why would the US poke the bear?

    Jim points to the petro dollar and says how the French Total CEO was assassinated on Russian soil and it was made to look like Putin did it. Jason then asks Jim about financial repression in the US, UK, Japan and the EU and how long these developed countries’ central banks can keep interest rates down and drop them and the yield curve further?

    Jim says as long as this debt based fiat currency system continues with QE, etc interest rates will NEVER rise again until everything blows up and collapses.

    Jason and Jim discuss losing personal freedoms in the US, gold inflation vs deflation and if the European Union will break up in this in depth interview.


March 7, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , | Comments Off on Jim Willie: Interest Rates Will Never Rise!

Jim Willie: The Greatest Self-Inflicted Gunshot Wound in 2,000 Years!

Remember the Golden Rule: He who has the gold makes the rules! Got physical gold yet?

Remember the Golden Rule: He who has the gold makes the rules! Got physical gold yet?

  • Jim Willie: The Greatest Self-Inflicted Gunshot Wound in 2,000 Years! 
    A final End Game has begun.  The current stage is the global rejection of the USDollar, the once respected revered and resilient currency which has in recent years fallen on its own Third World sword. QE is a Third World monetary policy, plainly stated. What remains is the loss of the most prestigious of the nation’s calling card, the USD as global reserve currency.

    The reaction of global USDollar rejection in response to Quantitative Easing, otherwise known as hyper monetary inflation, will go down in US history, even world history, as the greatest self-inflicted gunshot wound the head and chest in two thousand years.

    by Jim WillieGolden 

    It is very difficult to find a foreign policy deployed by the United States Govt that has been successful in recent years. In fact, almost all aggressive foreign policy initiatives have resulted in profound losses either in financial strategic position or in alliances with previous staid allied nations. They have almost uniformly backfired, while bravado has mixed with stupidity, while arrogance has blended with futility.

    The USDollar is soon to fade into oblivion. Its rise signals its demise. The hidden dismantle of the Petro-Dollar mechanism has been full of intrigue. The Gold Standard will return, but through the trade window. The solution to the untreated Global Financial Crisis is the gold route. The Eurasian Trade Zone will be built upon the gold route, and see a revival of the Silk Road with accompanying Maritime Routes. The nascent trade zone will soon include Germany and whatever nation follows its prudent lead. The movement cannot be stopped, not even by war. In fact, the Ukraine War will eventually catalyze the Eurasian Trade Zone, with European entries harboring disgust. The safe haven is not the USDollar, but rather Gold & Silver, otherwise defined as money. Banks find refuge in bullion bars, while individuals find refuge in bars & coins. Foreign nations will find refuge by banning the USDollar in trade settlement and banking reserve systems.

    read more!


March 5, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Complete Breakdown Of All Economic Activity!

  • Complete Breakdown Of All Economic Activity! 
    The Baltic Dry Index hit a new all-time low yesterday of 522.  It was over 2200 as recently as late 2013.  The stunning collapse in this index is similar to the stunning collapse in the price of oil since July 2014.  Not one single Wall St. analyst was forecasting a decline for oil. Similarly, many of the indices of many of the reports which measure economic activity in this country are beginning to drop sharply, with several back to their levels of 2008/2009.  

    Retail sales fell nearly 1% two months in a row, including in December which should be the best growth month of the year for retail sales.  Today the Empire State  Manufacturing Survey (from the NY Fed) declined  and missed consensus estimates.  The new orders sub-index dropped close zero and the future business expectations index collapsed from 48 to 25.

    Folks, our economy is getting ready to fall off a cliff again.  My colleague Rory Hall (The Daily Coin) and I did a brief “Web of Deception” episode discussing theses issues plus a brief update on Greece: (video top of post)


February 24, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , | 1 Comment

The New Elite for 2015 – New DVD From Pastor Lindsey Williams!

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February 21, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off on The New Elite for 2015 – New DVD From Pastor Lindsey Williams!

Andrew Hoffman: Greece Will Default – Calamity Follows!

  • Andrew Hoffman: Greece Will Default-Calamity Follows! 
    by Greg Hunter’s 
    Financial writer Andrew Hoffman says the debt problem in Greece will not have a happy ending. Hoffman contends, “More than half of Greek debt, everyone talks about the 400 billion euros they owe, more than half of this debt is from the bailouts in the last four years. . . . Two years ago, I wrote that Greece was my top pick to catalyze the big one, and here we are in that same position. . . . If there is an agreement, it is only going to be bad for everybody.  It’s going to bad for Europe and bad for Greece.  Of course, if there is no agreement, then there is your end game right there.  They are not just going to leave the euro; they are going to default on their debt.  That is the only way Greece can be saved.  It is the only way Greece can be saved, and it is the same just about everywhere else. . . . I can’t see any deal they could make.”

    On physical gold and silver, Hoffman points out, “We are seeing record demand around the world.  2013 was a record year.  2014 was a record year, and starting 2015, gold imports in China have been 50% above last year’s levels to start this year.  There is going to be a supply response . . .  just look at the earnings of the gold mining companies; they are decimated. . . . I predicted Armageddon.  I think they are all going to merge, and they are going to cut whatever is left of their businesses to the bone.  There is going to be no supply out there, particularly in silver, and it is all happening at a time when demand is surging.  That’s why it makes the ability of this cartel, the same people that are printing the money, to keep gold and silver prices in check all that more tenuous.”

    read more!


February 20, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | Comments Off on Andrew Hoffman: Greece Will Default – Calamity Follows!

Is Boko Haram a CIA Covert Op to Divide and Conquer Africa?

US AFRICOM - African Command ! Invasion begins!

US AFRICOM – African Command ! Invasion begins!

  • The Pentagram needs a pretext for the invasion and conquest of Africa via their AFRICOM arm. First they create the problem, then they ride in, pretending to be saviors, as the solution to the problem. Yes! Boko Haram is a CIA operation. The process is called the Hegelian Dialectic employing the Satanic: Order Out of Chaos philosophy.
  • Is Boko Haram a CIA Covert Op to Divide and Conquer Africa? 
    by Julie Lévesque, 
    The objectives of the US military presence in Africa are well documented: counter Chinese influence and control strategic locations and natural resources including oil reserves. This was confirmed more than 8 years ago by the US State Department:

    In 2007, US State Department advisor Dr. J. Peter Pham commented on AFRICOM’s strategic objectives of “protecting access to hydrocarbons and other strategic resources which Africa has in abundance, a task which includes ensuring against the vulnerability of those natural riches and ensuring that no other interested third parties, such as China, India, Japan, or Russia, obtain monopolies or preferential treatment.” (Nile Bowie, CIA Covert Ops in Nigeria: Fertile Ground for US Sponsored Balkanization Global Research, 11 April 2012)

    At the beginning of February,  AFRICOM’s “head General David Rodriguez called for a large-scale US-led ‘counterinsurgency’ campaign against groups in West Africa during remarks at the Center for Strategic and International Studies in Washington, DC:

    In similar remarks at a the US Army West Point academy last week, US Special Operations Command (SOCOM) chief General Joseph Votel said that US commando teams must prepare for new deployments against Boko Haram and the Islamic State. ” (Thomas Gaist, US AFRICOM Commander Calls for “Huge” Military Campaign in West Africa, World Socialist Web Site, February 02, 2015)

    Mark P. Fancher highlighted the hypocrisy and the “imperialist arrogance” of western countries, which “notwithstanding the universal condemnation of colonialism”, are evermore willing “to publicly declare (without apologies) their plans to expand and coordinate their military presence in Africa.” (Mark P. Fancher, Arrogant Western Military Coordination and the New/Old Threat to Africa, Black Agenda Report, 4 February 2015)

    Now more troops from Benin, Cameroon, Niger, Nigeria and Chad are being sent to fight against Boko Haram.

    This new war on yet another shadowy terrorist entity in Africa is reminiscent of the failed Kony 2012 propaganda campaign cloaked in humanitarian ideals. It is used as a smoke screen to avoid addressing the issue of the victims of the war on terror, the real causes of terrorism and to justify another military invasion. It is true that Boko Haram makes victims, however the goal of Western intervention in Africa is not to come to their rescue.

    The deadliest conflict in the world since the Second World War and still raging is happening in Congo and the Western elite and its media couldn’t care less. That alone shows that military interventions are not intended to save lives.

    To understand why the media focuses on Boko Haram, we need to know what it is and who is behind it.  What is the underlying context, what interests are being served?

    Is Boko Haram another US clandestine operation?
    Boko Haram is based in northeast Nigeria, the most populated country and largest economy in Africa. Nigeria is the largest oil producer of the continent with 3.4% of the World’s  reserves of crude oil.

    read more!

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February 18, 2015 Posted by | GeoPolitics | , , , , , , , , , , , , , , | 1 Comment

Welcome to World War Three!

World War 3 Coming Soon Nuclear Blast

  • Welcome to World War Three
    by James Howard Kunstler, 
    In case anyone didn’t get ISIL’s message from their latest video in which 21 Egyptian Coptic Christians have their heads sawn off, here it is: “We’re executioners, not warriors.” Those gouts of blood spilled on a Libyan beach amount to ISIL’s welcome mat to the mass execution of the Euro-American west. The dignity of a funeral is not even on the program.

    What we’ve got now with apocalyptic Jihadism spreading clear across the region from Pakistan to Morocco, and Europe blandly ignoring it across the Mediterranean, is an epochal face-off that will change the world. It comes at an odd moment in history, namely as the massive oil wealth of the Middle East and North Africa enters decline. It was that oil wealth that provoked a population spike in a desolate corner of the planet the past century.
    Partly what you’re seeing over there is an internal fight to control what’s left of the treasure. That battle has already had the strange consequence of disabling the oil production capacity in places like Iraq and Libya, where there is still a lot of oil, but not enough political stability to allow the complicated business of extraction and transport to take place. What’s more there has also been tremendous damage to the oil infrastructure in these places, some from deliberate sabotage, some from shelling and bombing, and a lot from sheer neglect and deferred maintenance. Oil refineries and transport terminals are very delicate machines that require constant loving care.

    It’s self-evident now that ISIL would like to control as much of the remaining oil wealth as possible — though I doubt they have the competence to run it for long even if they appear to control the terrain. The Euro-American west always has the option of completing the destruction with bombs and missiles, but then they would also be destroying their own future oil supplies and hence their modern industrial economies.

    The Big Prize, of course, is the grand fortress of Saudi Arabia. The kingdom is surrounded by Islamic maniacs now, with Yemen recently fallen to the south, the ever-hostile Iranian Shi’a across the Persian Gulf, disintegrating Iraq and Syria to the north, and the festering human compost heap of Egypt and then Libya across the Red Sea. And, of course, along the saddle of the Levant there is Israel with all its enemies and problems. Arabia has a new King, 79, rumored to be weak in the head. …. If Saudi Arabia falls apart, it’s game over for modern life as the West has known it (and much of Asia now, too).

    The USA, meanwhile, has managed to embroil itself in a completely unnecessary and idiotic struggle over Ukraine, a place of no real strategic importance to us. And in doing so we’ve managed to alienate perhaps the one nation with the will and the motivation to oppose Jihadism, namely Russia, with its vast southern border facing the immensity of Islamic Central Asia.

    Europe, meanwhile, is preoccupied playing games with itself over money. Today is supposedly crunch time for Greece. The so-called Troika — the European Central Bank, The European Union bureaucrats, and the International Monetary Fund — still expects Greece to continue to pretend to pay back its debt. That’s been the meaning of “austerity” until now. But Europe is a gigantic debt minefield that no one can really walk across. Other parts of it than Greece are just waiting to blow up, and will, and it’s unclear whether Europe is even paying attention to the blood-red welcome mat that was laid out in Libya last weekend. The true meaning of “austerity” will become clear when Europe finds itself forced to fight World War Three at the same time that its banking system implodes.

    read more!



February 17, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | Comments Off on Welcome to World War Three!

Dr Jim Willie: Death of PetroDollar!

  • Dr. Jim Willie Webinar begins at the 49 minutes mark.
  • Published on Feb 12, 2015
    .. covered the Swiss Franc currency situation, the Ukraine War hidden motives, factors surrounding the death of the Petro-Dollar, and several questions from the audience.


February 14, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment


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