Socio-Economics History Blog

Socio-Economics & History Commentary

⇧ US Debts, Liabilities: Bad State of Affairs | Professor Steve Hanke

  • SilverDoctors Published on Dec 14, 2018
    Steve H. Hanke, a Professor of Applied Economics and Co-Director of The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise. He served on President Reagan’s Council of Economic Advisers, has been an adviser to 5 foreign heads of state and 5 foreign cabinet ministers, and held a cabinet-level rank in both Lithuania and Montenegro. Professor Hanke is also a columnist at Forbes Magazine, a well-known currency reformer, and a currency and commodity trader. Silver and gold prices were flat to slightly down for the week. Silver spot price is closing the week down a few cents at around $14.64 oz while gold spot price is ending at $1240 US dollars per troy ounce. Ten dollars less per ounce than last week’s closing price. Concerning some recent discussions on our show, the palladium spot price is closing this week higher than gold’s spot price at $1251 per troy ounce. The last time palladium prices were higher than gold was from the year 2000 to the year 2002, during the Russian palladium supply, short squeeze. That episode saw the then palladium price high reach 4Xs the then spot price of gold. Is something similar to that, about repeat?

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December 15, 2018 Posted by | Economics | , , , , , , , , , | Leave a comment

Egon von Greyerz: Most Massive Wealth Destruction Ever Coming

  • Egon von Greyerz: Most Massive Wealth Destruction Ever Coming
    by Greg Hunter’s USAWatchdog.com 
    Financial and precious metals expert Egon von Greyerz (EvG) says don’t expect the global financial situation to get better anytime soon. EvG says, “You know what the politicians are doing now? Theresa May is my best example. These politicians are just running around posing and acting, but they are not achieving anything, and they are not achieving anything because the world is in a mess. What we are seeing the beginning of is the decline of the western world economy, which means the whole world economy. . . . There is no use in putting a time period on it, that it’s going to happen this year or next year. The trend is clear. We know that the world economy is in a mess. It’s going to decline, and in my view, it’s going to be a rapid decline.. . . Gold will reflect all of this, and currencies will be totally debased. . . . You don’t need a lot, you might only need another few snowflakes to trigger this avalanche. It could come in a month or in three months time because the system is a fake system. . . . I count $2 quadrillion in money. If you add debt, unfunded liabilities and the risk of derivatives, you come up to $2 quadrillion of debt and liabilities. The global GDP is $70 trillion. . . . So, you are talking about 30 times global GDP.”


    What could go wrong? EvG says, “You don’t need much to go wrong. It will happen. They have no remedy anymore. 2007 to 2009, I have said many times that was a rehearsal. The real thing is coming now or in the next few years, and no money printing will ever stop it. They will try, but they will fail. This is why you will get the depressionary hyperinflation, and when that fails you get the implosion of the system. All values will shrink to very low numbers, all assets and debts will shrink together. That is the longer term play. It’s not going to be nice for the world. It’s going to be horrible for the world.”

    read more.

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December 13, 2018 Posted by | Economics | , , , , , , , , , , | Leave a comment

Silver Supply Crisis Ahead? | Silver Fortune

  • SilverDoctors Published on Dec 12, 2018
    Matt from Silver Fortune tells Silver Doctors why there may be a supply crisis in the future. A large silver deposit was discovered in China recently. How does this impact the silver market? Matt says this shows the world is not running out of silver. However, he explains why he is still bullish on silver. He shares why there may be a supply crisis in the future. Eventually though, it may be the time to move out of silver, he says. He shares his silver exit strategy. Currently, the confidence in the economy is collapsing. Matt updates us the signals of crisis.

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December 13, 2018 Posted by | Economics | | Leave a comment

THE BEAR IS HERE: Is Your Exit Blocked?

  • ITM Trading Streamed live 2 hours ago
    Link to the Slides and Sources: https://www.itmtrading.com/blog/bear-…
    I believe that enough risk has now been transferred, to usher in the next financial crisis. Which will most likely be caused by derivative leverage explosions along with evaporating market liquidity. Weekly equity outflow reports and market trading volumes might be telling us that the selling has begun. On December 10, 2018 she warned about the “Gigantic holes in the system” and stated that the “tools that are available to deal with emerging problems are not great in the United States” and now, warns of another potential financial crisis. Ya think? Perhaps that’s why central banks and governments are accumulating gold at the highest levels since 2015. They have a plan…do you?

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December 13, 2018 Posted by | Economics | , , , , , , , , | Leave a comment

Jim Willie: Gold and Global Financial Crisis Redux

  • Jim Willie: Gold and Global Financial Crisis Redux
    by Jim Willie CB, GoldenJackass.com, via http://www.goldseek.com/
    The Global Financial Crisis, a broader deeper more powerful systemic crisis than the Lehman Event was, has finally arrived in a great redux. It is seen in numerous areas. We have finally arrived at the ten-year anniversary of the Lehman event, a killjob whereby JPMorgan and Goldman Sachs bought a few $billion in mortgage bonds and never paid Lehman Brothers. The firm died, called a financial failure, but was actually a strangulation. Goldman went on to capture AIG, in order to claim 100 cents per dollar on insured mortgage bonds, a second crime. The Wall Street banks, under the leader Henry Paulsen as the managing USTreasury Secretary, completed the third crime, by pitching the $700 billion TARP Fund. They stole it, using the fund for enriching themselves with redeemed preferred stock, instead of making the funds available for lending purposes. Here ten years later, nothing has been fixed. In fact, all the abuses heaped upon the mortgage finance sector have been repeated in sovereign bonds. The USTreasury Bond has become a subprime bond, financed by pure monetization, almost no actual bonds buyers, $trillion annual deficits, auctions rigged, with hidden demand from the derivative machinery. It qualifies as a Third World debt security. The corporate bonds were routinely abused in stock buybacks, hardly ever ploughed back into the business. High yield bonds are the norm now, along with the wrecked Emerging Market bonds. There are many analysts who call the current situation the Everything Bond Bubble.


    The Jackass prefers the name of Systemic Lehman Event, since it is part 2 with the exact same monetary abuse, bond fraud in underwriting, with a QE chaser. The Quantitative Easing is old fashioned hyper monetary inflation of the worst kind, unsterilized, meaning huge volume of funds added to the financial system with no extractions.The global financial crisis is upon us, having entered an intermediate level of debt saturation, of bond issuance deep abuse, of market rigging corruption, of banking system insolvency at acute levels, and of economic rot setting in. The outcome of the unfolding crisis will be three to five times more magnificent that what was witnessed in 2008 and 2009. Expect the current crisis to wreck a few big Western SIFI banks, collapse at least one national banking system, destroy at least five major Western corporations, and result in open discussion of the USGovt debt restructure, technically a default. The systemically important financial institutions (SIFI) cannot not be saved, since too many are insolvent, gigantic hollow reeds, dependent upon bond carry trade easy profits and narco money laundering fees. They rely upon hidden central bank welfare, to cover their $trillion exposure to derivatives. As the Petro-Dollar dissolves, these derivatives become unmanageable.

    read more.

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December 12, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Economic Structure Change, Ready And Prepared

  • X22Report Published on Dec 11, 2018
    Europe insists that the BREXIT deal will not be renegotiated, it is either the people take the EU deal or else. Australia is warning of a housing crisis. World’s largest cleaning service ISS is now laying off 100,000 employees, they number of employees has been declining for years. Trump reports very productive talks with China, big new coming soon. The central bank is trying to control the narrative, you can see via the MSM. The entire economic structure is about to change, prepared and ready for the transition.

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December 12, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | 1 Comment

The FedRes Dollar System Is Going To Fail, The System Is Ready For A Reset: Craig Hemke

December 12, 2018 Posted by | Economics | , , , , , , , , , , | Leave a comment

This Is All A Game,It’s Meant To Divide Us,We Need To Come Together Before It’s To Late: G. Mannarino

December 8, 2018 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , | Leave a comment

Massive Drawdown of Physical Metal | Rob Kirby

  • Reluctant Preppers Published on Dec 6, 2018
    When proprietary ​analyst of precious metals and former credit derivatives trader Rob Kirby informs us that an epic amount of physical precious metals was just withdrawn and memory-holed using off-market transactions, we sit up and take notice. The adage to “ignore their words and follow the money” leads us into a piercing expose of the Comex as an “operational crime scene,” the G20 summit as a sign of the breakup of nationalists vs. globalists, the government imposed hikes on oil & gas in France and the leading edge of hyperinflation contagion, and the Deutchebank investigation as a wedge between the US and the EU.

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December 8, 2018 Posted by | Economics | , , , , , , , , , , , | Leave a comment

ALERT: Yield Curve Inverted. Crisis Highly Likely | David Morgan

  • SilverDoctors Published on Dec 5, 2018
    The yield curve has inverted. The U.S. stock market was down 3% Tuesday. We’re headed for another crisis, says top silver expert David Morgan. There’s a shift out of stocks, he says. And as for precious metals, they are likely to go higher in the long term.

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

ENTERING THE FINANCIAL MINEFIELD: Is Your Armor Ready?

  • ITM Trading Streamed live on Nov 28, 2018
    As the derivative triggered financial crisis unfolded, in 2008 all IBORs failed as market liquidity evaporated and banks stopped lending to each other. In addition, global governments and central bankers now knew that banks, unwilling to assume that risk, would stop providing the markets which this benchmark rate during the next crisis, jeopardizing the valuations of over $300 trillion in fiat market contracts. This is why new interest rate benchmarks are required. There is no choice. This is why it’s so important to have a plan. Those in the know do, they buy physical gold. That’s part of my plan too.

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December 1, 2018 Posted by | Economics | , , , , , , , , , , , | Leave a comment

Bill Holter: Mad Max World Possible as Unpayable Debt Bubble Pops — There is Going to be a Reset

  • Bill Holter: Mad Max World Possible as Unpayable Debt Bubble Pops
    by Greg Hunter’s USAWatchdog.com
    Financial writer and precious metals expert Bill Holter has been asking the same question many others have been asking. How long can the heavily indebted and manipulated global economy go before it blows or can it go on indefinitely? Holter says, “It can’t keep going because it’s already stopped. The inflection point has already been hit. If you look at credit growth, it’s not credit growth. It’s either credit stagnation or credit contraction. The global financial system is a Ponzi scheme. In order to continue to reflate it, you have to have . . . exponentially more debt. That’s where we’ve been, and now we are at the point of debt saturation. There is really no ability to add more debt. Look at the U.S. for example. The U.S. pays $300 billion to $400 billion a year going all the way back to the 1990’s. That number never went higher, even though the amount of debt doubled and then doubled again. The reason it didn’t go higher is they pushed interest rates from 7% down to basically zero percent. So, the debt service amount never grew, and now it’s growing, and it’s growing at a time when the U.S. has basically already crossed the banana republic threshold of 100% debt to GDP. In the past 12 months, we spent $550 billion in interest, and it’s on its way to the moon.”


    So, what are people going to do in a world of “exponential debt”? Holter says, “Gold and silver have no liability. They have no liability whatsoever. They are pure monetary assets. There is no currency anywhere in the world that is backed directly by anything except the full faith and credit of the central banks. That’s the key. The world is awash in credit and awash in liabilities, and as this thing bursts, and it’s bursting right now right before your very eyes, and you are seeing it in the stock markets and bigger in the credit markets, when this thing bursts, people are going to scramble to get out from under liability. There’s only one way to do that . . . when credit begins to evaporate, then the cover over gold and silver is going to be lifted.”

    There is going to be a reset of this unpayable debt, and Holter says, “It’s going to happen, and I hope for not a very long period of time. I am hoping it’s just a two week or four week event where the system goes down and goes back up. If I am wrong, then you are looking at a Mad Max world. . . . Basically, nothing works. Your electricity doesn’t work. Your car may or may not work. We may have an EMP or it will work until you run out of gas. When credit breaks down, then distribution breaks down. If credit doesn’t come back up, then distribution is gone. That means every Walmart, every grocery store is empty. Basically, you are on your own.”

    In closing, Holter warns, “The balloon has already been popped. The pin has popped the bubble, and now we are just going to work its way out. The workout, by the way, is going to be a complete and utter financial collapse. It is a house of cards, and it is all going to end up flat.”

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November 29, 2018 Posted by | Economics | , , , , , , , , , | Leave a comment

RECESSION to RESET: What Happens Next? Q&A with Lynette Zang and Eric Griffin

  • ITM Trading Streamed live 5 hours ago
    Question 1. Richard M: In terms of inflation, what are the positive differences if only one currency existed instead of all?
    Question 2. Stephanos R: All I hear and about is that the bond yield will invert and when it does a recession is looming. Can this be manipulated and how?
    Question 3. Bobby B: In your opinion, in a monetary reset situation, what will happen to the credit as we know it today. Will all credit die? Even those with excellent credit?
    Question 4. Vince P: If the SDR is adopted, will America lose all control over its USD exchange rate? If so, that total control is exactly what the international banksters seek?
    Question 5. JR Ewing: What is understood by a collectible coin? Is for example a 1000 limited strike proof coin considered a collectible?

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November 28, 2018 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

Gold To Reassert Itself As Money | Alasdair MacLeod

  • FinanceAndLiberty.com Published on Nov 23, 2018
    The coming credit crisis will be the catalyst for China to adopt gold into their monetary system, says Alasdair MacLeod of Gold Money. The coming credit crisis will hurt China’s economy the worst, MacLeod says. He proposes that China should issue a perpetual bond. The coupon on that bond would be payable in Yuan or gold at the users choice. If this were to happen, it would undermine the Dollar and send gold higher. Why does MacLeod believe China is headed toward a gold standard? He gives many reasons including: China has been acquiring gold, is the largest gold miner in the world, doesn’t allow gold to leave, and has the biggest physical gold delivery market.

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November 24, 2018 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

Jim Willie Thanks-Giving Broadcast TFMetals Report

Click on image to play the MP3 interview.

  • INTERVIEW WITH MR FERGUSON AT TFMETALS
    by http://goldenjackass.com/main5.html

    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.

    https://www.tfmetalsreport.com/podcast/9081/your-holiday-weekend-jackass

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