Socio-Economics History Blog

Socio-Economics & History Commentary

“Everything Has Gone Wrong”: Soros Warns “Major” Financial Crisis Is Coming

  • “Everything Has Gone Wrong”: Soros Warns “Major” Financial Crisis Is Coming
    by Tyler Durden, https://www.zerohedge.com/
    In a speech delivered Tuesday in Paris, billionaire investor George Soros warned that the world could be on the brink of another devastating financial crisis, as debt crises reemerge in Europe and a strengthening dollar pressures both the US’s emerging- and developed-market rivals.


    And Europe, with Italy dragging worries about the possible dissolution of the euro back to the forefront, won’t be far behind. Political pressures like the dissolution of its transatlantic alliance with the US will eventually translate into economic harm. Presently, Europe is facing three pressing problems: The refugee crisis, the austerity policy that has hindered Europe’s economic development, and territorial disintegration – not only Brexit, but the threat that countries like Italy might follow suit…

    read more.

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May 30, 2018 Posted by | Economics | , , , , , , , | Leave a comment

Global Markets Descend Into Contagious Panic As Italy Implodes

  • Global Markets Descend Into Contagious Panic As Italy Implodes
    by Tyler Durden, https://www.zerohedge.com/
    Commenting on today’s sheer market chaos as the US and UK return from holiday, Bloomberg writes that “fixed-income markets have descended into panic amid mounting concern over the risk of Italy leaving the euro or leading to its break-up” and while Italy is suffering the biggest losses in peripheral debt, core bonds and Treasuries are spiking higher.


    For those who stayed away from market news over the holiday weekend, this is what happened and why we are here today: Italy PM-designate Conte gave up on efforts of forming a government after Italian President Mattarella rejected Eurosceptic Paolo Savona for the Economy Minister position because the appointment would have “alarmed markets and investors, Italians and foreigners” (yes, very ironic in retrospect, although just as we predicted would happen)Mattarella then summoned former-IMF senior director Cottarelli to meet in a move viewed by some as laying the groundwork for a technocratic government. Forza Italia said they would not support this government, and 5SM and League set their sights on the now highly likely new elections (touted from September 9th). Both 5SM and League saying they will evaluate their coalition in these new elections. 

    read more.

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May 30, 2018 Posted by | Economics, GeoPolitics | , , , , , , | Leave a comment

Italian Bonds, Stocks Crash In Furious Reversal As Political Drama Explodes

  • Italian Bonds, Stocks Crash In Furious Reversal As Political Drama Explodes
    by Tyler Durden, https://www.zerohedge.com/
    Yesterday, in the aftermath of the latest Italian political drama, in which president Mattarella openly mocked democracy, and under pressure from Europe vetoed the choice of the euroskeptic economy minister, Paolo Savona, we warned that this outcome was even worse for markets than the one which most had dreaded, namely Mattarella folding and greenlighting the 82-year-old professor for reasons we laid out article from Sunday.

    What happened next was a full court press by so-called experts and momentum reversal algos to spin yesterday’s outcome as good news, and sure enough in early trading the EUR bounced sharply, rising above 1.17, Bunds slumped, and Italian bonds and stocks gapped higher at the open.

    … And then all hell broke loose when, just as we predicted, Mattarella’s decision simply reinforced the League’s hard line position, when shortly after the open League leader Matteo Salvini reiterated his support for Savona, and in a Facebook video said that “either EU rules will change or it makes no sense for Italy to remain in the European Union.” Worse, dragging Italy to the verge of the constitutional crisis we warned about yesterday, Salvini turned the nation against the Brussels-lackey president and said that Mattarella “chose EU rules over Italians’ vote” which “is an issue for democracy.”

    read more.

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May 28, 2018 Posted by | Economics, GeoPolitics | , , , , , | Leave a comment

Emerging Markets MELTDOWN as Stocks, Bonds, Currencies Fall! Markets In PANIC MODE?!

May 22, 2018 Posted by | Economics | , , , , , , , | Leave a comment

Use Logic, The Deal, We Are At The End Of The Economic Cycle: Charles Hugh Smith

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

Bill Holter: Prepare For A Weekend Shocker And A 95% Stock Market Crash In Terms Of Gold

  • Bill Holter: Prepare For A Weekend Shocker And A 95% Stock Market Crash In Terms Of Gold
    by https://www.silverdoctors.com/
    Bill Holter provides a timely update on the coming financial system meltdown and credit crisis. Here’s the details… Bill Holter interviewed on Portfolio Wealth Group:

    Bill pulls no punches in this must listen, hard hitting interview.
    Bill is estimating a drop in the stock market of 40% to 50%, but as Bill puts it, if we’re talking about the drop in terms of gold, then Bill says we could be talking about an 80% to 95% drop.

    For the latest update on what to expect from the financial system which includes a credit crisis and a “mathematically certain” global hyperinflation, tune in to the interview in its entirety above.

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May 11, 2018 Posted by | Economics | , , , , , , , , , , , , | Leave a comment

Malaysian Stocks, Ringgit Crash As Opposition Wins Election

  • Malaysian Stocks, Ringgit Crash As Opposition Wins Election
    by Tyler Durden, https://www.zerohedge.com/
    Update 2: Malaysia’s Opposition Coalition wins a majority in the nation’s election. The Ringgit is tumbling-er…

    Mahathir Mohamad’s Pakatan Harapan coalition secures a majority in the Malaysian parliament, according to the election commission.

    And here’s why the currency is crumbling…

    When a currency weakens, the country loses money, the people lose money and costs of imports go up and generally the economy can’t do well. Capital control would become necessary in unusual situations.
    *  *  *
    Update 1: Of the 152 seats tallied, BN has 63 and the opposition coalition 71, while PAS, a potential kingmaker, has 14. And Malaysian stocks are collapsing…down 8% – the biggest drop in at least 2 1/2 years…

    read more.

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

Michael Pento: Super Spike In Precious Metals Coming. Worldwide Depression Coming, Buy Gold

  • Michael Pento: Super Spike In Precious Metals Coming. Worldwide Depression Coming, Buy Gold
    by Greg Hunter’s USAWatchdog.com 
    Money manager Michael Pento says it’s not a matter of if the economy tanks, it’s only a matter of when. The next downturn is going to be the worst–ever.  Pento explains, “The mainstream financial media and most of Wall Street . . . will say that the increase of interest rates, the great deleveraging process has been consummated, and central banks can raise interest rates and then call it a “beautiful deleveraging,” a beautiful process.  That is a lie. . . . There is $240 trillion of global debt.  The bond bubble is bursting. . . . Why are emerging markets crumbling now?  It’s because the bond bubble is in the process of bursting.  As that bubble bursts, look for this chaos to metastasize across the globe.”


    Pento, who is also an economist, goes on to say, “I believe this will bring down real estate prices, equity market values and start currency chaos. Unfortunately, a worldwide depression is coming like we have never seen before because we have never before had so much debt sit on top of artificially depressed interest rates.  The hubris and arrogance of central banks to take that away, they are way too late in doing so, and they think they can do this with impunity.  They are dead wrong.  They (central banks) have always caused recessions.  We are heading into a global depression.  The question is what are central banks going to do about it this time?  The Federal Reserve does not have a Federal Funds Rate they can take to zero percent.  They don’t have a balance sheet that is $800 billion.  They have a balance sheet that is $4.3 trillion. . . . The steps that they are going to take after this depression, the powers that be, the Illuminati are pushing things like negative interest rates, universal basic income and helicopter money to re-inflate asset prices, which will be plunging from record high altitudes.”

    Pento says we will have “deflation” first and then “runaway inflation.” Pento says this means gold is the place to be for the foreseeable future.  Pento contends, “There is going to be a run on gold like we have never seen before.  There is going to be a super-spike in the precious metals. . . . These are unprecedented times coming, and you should take physical possession of your gold.  I like gold and I like silver, and I like platinum.  I most especially like gold though. . . . This is happening now.  The bond bubble is bursting.”

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May 10, 2018 Posted by | Economics | , , , , , , , , , , | Leave a comment

Forget About 2008, This Crash Is Going To Be Much Worse: Gregory Mannarino

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

Charles Nenner: Bloodbath Dow 5,000 Coming in 2020

  • Charles Nenner: Bloodbath Dow 5,000 Coming in 2020
    by Greg Hunter’s USAWatchdog.com
    Renowned geopolitical and financial cycle expert Charles Nenner says, “The mainstream media talking heads are telling you to buy, but never tell you to sell.” Nenner says the time to sell stocks is getting close and explains, “It’s just a hopeless situation. I feel sorry for people who invest their money. We have had a nice ride, but soon the whole thing will come tumbling down. They listen to all these things and have no clue on how to invest . . . . I think soon . . . this will become the longest expansion in financial history. . . . So, this could be the longest expansion ever, what are you playing with? You are gambling with nonsense. So, it’s over.


    Nenner goes on to say, “Then, you have the inflation story. The inflation story is brought about by people who don’t do their historical homework. They remember for the last 30 years, there was always inflation. So, they continue to talk about inflation. I proved that in most of the financial history that deflation is the norm. . . . They have talked about inflation for two years, and there is still no inflation. . . . Copper is going down. Crude is going down, and we have a deflation problem, not an inflation problem.”

    Nenner is predicting interest rates “are going down” and not up in the foreseeable future. Nenner is also calling for the stock market to go on a “downward slide through the year 2020.” Nenner says, “I can’t explain it, but the cycle topped, and the cycle is down until 2021.”

    How bad will it be? Nenner says, “Very bad. I called for Dow Jones 5,000, and I still call for Dow Jones 5,000. . . . It’s going to be a blood bath, but as I said the last time, in the 1990’s when the Dow was 5,000, the world still looked okay.”

    Is there a big debt reset coming? Nenner says, “The last time we were in this situation was when Roosevelt was President. It was very interesting because they paid off only 25% on the dollar because the inflation that came. Now, the problem is if you don’t have inflation, you still owe the whole amount of money. This is why they urgently need this inflation. So, the value of the money goes down, and you have to pay off less. There is no inflation. So, it is a big problem, but they can keep this going forever. I don’t think it’s a problem because countries can keep printing money as long as they want.”

    Then Nenner said, “I see the dollar becoming strong again.” Nenner is “dollar positive.” The other big cycle Nenner has been seeing is the so-called “war cycle.” Nenner says, “The next four or five years in this war cycle is very dangerous.” On gold and silver, Nenner is bullish, but “not until after this summer.”

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May 3, 2018 Posted by | Economics | , , , , , , , , | Leave a comment

Peter Schiff: Gold To Spike By $100/Day Over Many Days In A Row

  • Peter Schiff: Gold To Spike By $100/Day Over Many Days In A Row
    by https://www.silverdoctors.com/
    Peter Schiff says once gold takes off, it’s going to be like “an invading army busting through the castle doors”. Here’s why… Peter Schiff interviewed by Mike Adams via Natural News:

    (Natural News) Mike Adams, the Health Ranger, launched his new “Counterthink” program on the Infowars network this week with an interview featuring financial expert Peter Schiff, who gave his  analysis of what’s currently happening in the stock market, where the dollar is headed, what’s in store for Bitcoin and what’s in store for American investors in the months ahead.

    Schiff said that currently, he believes Wall Street is experiencing a bit of a bear market he believes is liable to expand as the U.S. dollar — at its lowest in three decades — continues its slide, reflecting in higher oil, silver and gold prices.

    Asked what he would tell someone who is just now waking up to the reality that much of what passes for conventional wisdom in the financial sector is based on faulty assumptions and fake news, Schiff said, “the good news is, they can still get out.”

    “The markets are still close to their highs, and even though the dollar fell a lot in January, it fell from a very high level,” he said. “It’s still way over-valued. So you have time to get out of those assets, which would include stocks and bonds and get out of the dollar into a better portfolio of foreign stocks — not just indiscriminately but companies in the right countries with the right currencies and get some exposure to commodities, get some exposure to precious metals.”

    read more.

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April 26, 2018 Posted by | Economics | , , , , , , , , , | Comments Off on Peter Schiff: Gold To Spike By $100/Day Over Many Days In A Row

Your Gold in Vaults? Confiscations, Mattress Money, 2021 and more… Q&A with Lynette and Eric

  • ITM Trading Streamed live 5 hours ago
    Questions: https://www.itmtrading.com/blog/gold-…
    Question 1. Mike M: I have approx. 1/3 of my gold stored in a vault in Singapore. What would happen to that if there is an overt confiscation?
    Question 2. Rene W: To get protection against bail-in would it be wise to remove let say $10,000.00 or more from your bank account and stuff it under the mattress?
    Question 3. Awake1percent: What happens to social security and other entitlements AFTER the reset? Will people start getting their government checks in whatever the new currency is? Do you think these programs could just cease?
    Question 4. Annette S: When being used for barter, can you get the same amount of goods for a one-ounce silver round that you could get with a one ounce silver eagle? If so, why would someone pay the extra premium for the eagle?
    Question 5. Craig J: why is it that when countries by tons of gold and big gold guys that buy gold by the tonnage for their clients, why doesn’t the price rise dramatically?
    Question 6. Robert J: Lastest Video: does this mean your advice going from variable rate to fixed rate and then having nine months to pay off your mortgage is no longer applicable because they can change it anyway?
    Question 7. H Zilla: I am still confused by the 100% consent requirement for certain changes to be implemented in 2021. Wouldn’t this be a good thing for mortgage, school and car loan holders in keeping the new rates from being raised for the benefit of the IMF?

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April 25, 2018 Posted by | Economics | , , , , , , , , , , , , , , , | Comments Off on Your Gold in Vaults? Confiscations, Mattress Money, 2021 and more… Q&A with Lynette and Eric

Be Prepared For The Entire System To Go Dark For 2-3 Days: Jordan Sather

April 21, 2018 Posted by | Economics | , , , , , , , , , , , , | Comments Off on Be Prepared For The Entire System To Go Dark For 2-3 Days: Jordan Sather

Worldwide Debt Default | Michael Pento

  • SilverDoctors Published on Apr 19, 2018
    The yield curve will invert, leading to a shrinking of the money supply, and a recession later this year, Michael Pento of Pento Portfolio Strategy tells Silver Doctors. He says bonds currently are the “most mispriced assets in the history of the world.” He sees a world wide default on debt coming. The stock market is also in trouble. There is a confluence of events coming in the fall that will lead to a bear market like we haven’t seen in a decade.

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April 20, 2018 Posted by | Economics | , , , , , , , , , , | Comments Off on Worldwide Debt Default | Michael Pento

Lynette Zang: Gold Still Rises In Price Even AFTER The Reset

  • Lynette Zang: Gold Still Rises In Price Even AFTER The Reset
    by https://www.silverdoctors.com/
    Lynette has new information on the coming reset based on happenings in Venezuela and the proposed legislation in the U.S. Congress. Here’s the details… from Lynette Zang of ITM Trading:

    Question 1: Venezuela has done the reset of its currency to gold. Does this means that the reset is dependent on each country’s government and only those facing a crisis like Venezuela? Will there be an eventual reset on a global level such that all countries will reset their currency to the true fundamental gold value?

    Question 2: Should I sell my gold/silver bullion for junk silver coins or silver eagles?

    Question 3: I was waiting on Lynette’s response about what would happen to a TD Ameritrade account upon a systemic failure, hopefully you can squeeze this in.

    Question 4: House bill 5404 on gold standard. Your thoughts?

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April 7, 2018 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Comments Off on Lynette Zang: Gold Still Rises In Price Even AFTER The Reset